Document:

Exhibit 10.1

 

Execution Version

 

Published
Deal CUSIP: 71742TAD2

Revolver
CUSIP: 71742TAE0

Term
Loan CUSIP: 71742TAF7

 

AMENDED AND RESTATED CREDIT AGREEMENT

 

Dated as of April 22, 2021

 

among

 

PHIBRO ANIMAL HEALTH CORPORATION,

as the Borrower,

 

BANK OF AMERICA, N.A.,

as Administrative Agent, Collateral Agent and L/C Issuer,

 

and

 

THE LENDERS PARTY HERETO

 

Arranged By:

 

BOFA SECURITIES, INC.,

and

COÖPERATIEVE RABOBANK U.A., NEW YORK BRANCH,

as Joint Lead Arrangers and Joint Bookrunners,

 

COÖPERATIEVE RABOBANK U.A., NEW YORK BRANCH

as Syndication Agent

 

     

     

    

 

		TABLE OF CONTENTS	 

 

Page

 

	ARTICLE 1	 
	Definitions and Accounting Terms	1
	 	 
	Section 1.01.   Defined Terms	1
	Section 1.02.   Other Interpretive Provisions	51
	Section 1.03.   Accounting Terms	52
	Section 1.04.   Rounding	52
	Section 1.05.   References to Agreements, Laws, etc.	53
	Section 1.06.   Times of Day	53
	Section 1.07.   Timing of Payment or Performance	53
	Section 1.08.   Currency Equivalents Generally	53
	Section 1.09.   Letter of Credit Amounts	54
	Section 1.10.   Certain Calculations	54
	Section 1.11.   Divisions	55
	Section 1.12.   Interest Rates	55
	Article
                                            2

                                                                                The Commitments and Credit Extensions
	55
	Section 2.01.   The Loans	55
	Section 2.02.   Borrowings, Conversions and Continuations of Loans	56
	Section 2.03.   Letters of Credit	58
	Section 2.04.   [Reserved]	67
	Section 2.05.   Prepayments	67
	Section 2.06.   Termination or Reduction of Commitments	74
	Section 2.07.   Repayment of Loans	75
	Section 2.08.   Interest	76
	Section 2.09.   Fees	76
	Section 2.10.   Computation of Interest and Fees	77
	Section 2.11.   Evidence of Indebtedness	77
	Section 2.12.   Payments Generally	78
	Section 2.13.   Sharing of Payments	81
	Section 2.14.   Incremental Credit Extensions	82
	Section 2.15.   Extensions of Term Loans and Revolving Credit Commitments	85
	Section 2.16.   Defaulting Lenders	87
	Section 2.17.   Cash Collateral	89
	Article
                                            3

                                                                                Taxes, Increased Costs Protection and Illegality
	90
	Section 3.01.   Taxes	90
	Section 3.02.   Illegality	94
	Section 3.03.   Inability to Determine Rates	95

 

     

     

    

 

	Section 3.04.   Increased Cost and Reduced Return; Capital Adequacy; Reserves on Eurodollar Rate Loans	98
	Section 3.05.   Funding Losses	99
	Section 3.06.   Matters Applicable to All Requests for Compensation	100
	Section 3.07.   Replacement of Lenders under Certain Circumstances	101
	Section 3.08.   Survival	102
	Article
                                            4

                                                                                Conditions Precedent to Credit Extensions
	102
	Section 4.01.   Conditions of Initial Credit Extension	102
	Section 4.02.   Conditions to All Credit Extensions	105
	Section 4.03.   Conditions to Restatement Effective Date	105
	Article
                                            5

                                                                                Representations and Warranties
	108
	Section 5.01.   Existence, Qualification and Power; Compliance with Laws	108
	Section 5.02.   Authorization; No Contravention	109
	Section 5.03.   Governmental Authorization; Other Consents	109
	Section 5.04.   Binding Effect	109
	Section 5.05.   Financial Statements; No Material Adverse Effect	109
	Section 5.06.   Litigation	110
	Section 5.07.   Ownership of Property; Liens	110
	Section 5.08.   Environmental Compliance	110
	Section 5.09.   Taxes	111
	Section 5.10.   Compliance with ERISA	111
	Section 5.11.   Subsidiaries; Equity Interests	112
	Section 5.12.   Margin Regulations; Investment Company Act	112
	Section 5.13.   Disclosure	112
	Section 5.14.   Intellectual Property; Licenses, etc.	112
	Section 5.15.   Solvency	113
	Section 5.16.   Collateral Documents	113
	Section 5.17.   Use of Proceeds	113
	Section 5.18.   Senior Indebtedness	113
	Section 5.19.   Anti-Money Laundering, Economic Sanctions Laws, and Anti-Corruption Law	113
	Section 5.20.   Labor Matters	114
	Section 5.21.   EEA Financial Institutions	114
	Section 5.22.   Beneficial Ownership Regulation	114
	Article
                                            6

                                                                                Affirmative Covenants
	114
	Section 6.01.   Financial Statements	114
	Section 6.02.   Certificates; Other Information	116
	Section 6.03.   Notices	118
	Section 6.04.   [Reserved]	118

 

    ii 

     

    

 

	Section 6.05.   Maintenance of Existence	118
	Section 6.06.   Maintenance of Properties	118
	Section 6.07.   Maintenance of Insurance	118
	Section 6.08.   Compliance with Laws	119
	Section 6.09.   Books and Records	119
	Section 6.10.   Inspection Rights	119
	Section 6.11.   Covenant to Guarantee Obligations and Give Security	120
	Section 6.12.   Use of Proceeds	121
	Section 6.13.   Further Assurances and Post-Closing Covenants	122
	Section 6.14.   Designation of Subsidiaries	122
	Section 6.15.   Payment of Taxes	122
	Article
                                            7

                                                                                Negative Covenants
	123
	Section 7.01.   Liens	123
	Section 7.02.   Investments	127
	Section 7.03.   Indebtedness	130
	Section 7.04.   Fundamental Changes	136
	Section 7.05.   Dispositions	137
	Section 7.06.   Restricted Payments	139
	Section 7.07.   [Reserved]	141
	Section 7.08.   Transactions with Affiliates	141
	Section 7.09.   Prepayments, Etc., of Indebtedness	142
	Section 7.10.   Financial Covenants	142
	Section 7.11.   Nature of Business	143
	Section 7.12.   Burdensome Agreements	143
	Section 7.13.   Anti-Corruption Laws	144
	Article
                                            8

                                                                                Events of Default and Remedies
	144
	Section 8.01.   Events of Default	144
	Section 8.02.   Remedies Upon Event of Default	147
	Section 8.03.   Exclusion of Immaterial Subsidiaries	147
	Section 8.04.   Application of Funds	147
	Article
                                            9

                                                                                Administrative Agent and Other Agents
	149
	Section 9.01.   Appointment and Authorization of Agents	149
	Section 9.02.   Delegation of Duties	150
	Section 9.03.   Liability of Agents	150
	Section 9.04.   Reliance by Agents	151
	Section 9.05.   Notice of Default	152
	Section 9.06.   Credit Decision; Disclosure of Information by Agents	152
	Section 9.07.   Agents in Their Individual Capacities	153

 

    iii 

     

    

 

	Section 9.08.   Successor Agents	153
	Section 9.09.   Administrative Agent May File Proofs of Claim	154
	Section 9.10.   Collateral and Guaranty Matters	155
	Section 9.11.   Other Agents; Arrangers and Managers	156
	Section 9.12.   Appointment of Supplemental Administrative Agents	156
	Section 9.13.   Withholding Tax	157
	Section 9.14.   Cash Management Obligations and Secured Hedge Agreements	158
	Section 9.15.   Recovery of Erroneous Payments	158
	Article
                                            10

                                                                                Miscellaneous
	158
	Section 10.01.   Amendments, Etc.	158
	Section 10.02.   Notices and Other Communications; Facsimile Copies	161
	Section 10.03.   No Waiver; Cumulative Remedies	163
	Section 10.04.   Attorney Costs and Expenses	164
	Section 10.05.   Indemnification	165
	Section 10.06.   Payments Set Aside	166
	Section 10.07.   Successors and Assigns	167
	Section 10.08.   Confidentiality	174
	Section 10.09.   Setoff	175
	Section 10.10.   Counterparts	175
	Section 10.11.   Integration	175
	Section 10.12.   Survival of Representations and Warranties	175
	Section 10.13.   Severability	175
	Section 10.14.   GOVERNING LAW; Jurisdiction, etc.	176
	Section 10.15.   WAIVER OF RIGHT TO TRIAL BY JURY	177
	Section 10.16.   Binding Effect	177
	Section 10.17.   Judgment Currency	177
	Section 10.18.   Lender Action	178
	Section 10.19.   USA PATRIOT Act	178
	Section 10.20.   No Advisory or Fiduciary Responsibility	178
	Section 10.21.   Appointment of Borrower	179
	Section 10.22.   Electronic Execution of Assignments and Certain Other Documents	179
	Section 10.23.   Acknowledgment and Consent to Bail-In of Affected Financial Institutions	179
	Section 10.24.   MIRE Events	180
	Section 10.25.   Amendment and Restatement; No Novation	180
	Section 10.26.   Certain ERISA Matters	181
	Section 10.27.   Acknowledgement Regarding Any Supported QFCs	182

 

 

SCHEDULES

 

	1.01A 	—	Guarantors
	1.01B  	—	Immaterial Subsidiaries
	1.01C  	—	Revolving Credit Commitment
	1.01D    	—	Term A Commitment

 

    iv 

     

    

 

	1.01E  	—	Unrestricted Subsidiaries
	2.03(a)	—	Existing Letters of Credit
	5.06   	—	Litigation
	5.08       	—	Environmental Compliance
	5.11    	—	Subsidiaries and Other Equity Interests
	5.20  	—	Labor Matters
	7.01(b)	—	Existing Liens
	7.02(g)	—	Existing Investments
	7.03(c)	—	Surviving Indebtedness
	10.02 	—	Administrative Agent’s Office, Certain Addresses for Notices

 

EXHIBITS

 

Form of

 

	A	—	Committed Loan Notice
	B	—	[Reserved]
	C-1	—	Term Note
	C-2	—	Revolving Credit Note
	D	—	Compliance Certificate
	E	—	Assignment and Assumption
	F	—	Guaranty
	G	—	Security Agreement
	H	—	[Reserved]
	I	—	[Reserved]
	J	—	[Reserved]
	K	—	Discounted Prepayment Option Notice
	L	—	Lender Participation Notice
	M	—	Discounted Voluntary Prepayment Notice
	N	—	United States Tax Compliance Certificate

 

    v 

     

    

 

 

 

AMENDED AND RESTATED CREDIT AGREEMENT

 

This AMENDED AND RESTATED CREDIT AGREEMENT (“Agreement”)
is entered into as of April 22, 2021, among PHIBRO ANIMAL HEALTH CORPORATION, a Delaware corporation (the “Borrower”),
BANK OF AMERICA, N.A. (“Bank of America”), as Administrative Agent, Collateral Agent and L/C Issuer and each lender
from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”).

 

PRELIMINARY STATEMENTS

 

1.       The
Borrower, the lenders from time to time party thereto and Bank of America, as administrative agent, were party to that certain Credit
Agreement, dated as of June 29, 2017 (the “Existing Credit Agreement”).

 

The Borrower requested on the Restatement Effective
Date that the Lenders extend credit to the Borrower in the form of (i) Term A Loans in an initial aggregate principal amount equal to
$300,000,000 and (ii) Revolving Credit Commitments in an initial aggregate principal amount of $250,000,000 (the “Revolving
Credit Facility”). The Revolving Credit Facility may include one or more Letters of Credit from time to time.

 

2.       The
proceeds of the Term A Loans and the Initial Revolving Borrowing, together with cash of the Borrower, will be used to refinance and/or
replace the outstanding Term Loans and Revolving Credit Facility under the Existing Credit Agreement. The proceeds of Revolving Credit
Loans made after the Restatement Effective Date and Letters of Credit will be used for working capital and other general corporate purposes
of the Borrower and its Subsidiaries, including Capital Expenditures, Restricted Payments and the financing of Permitted Acquisitions.

 

3.       Subject
to the satisfaction of the conditions set forth in Section 4.03 hereof, the parties hereto as of the Restatement Effective Date have agreed
to amend and restate the Existing Credit Agreement in the form of this Agreement, and the applicable Lenders have indicated their willingness
to lend, and the L/C Issuer has indicated its willingness to issue Letters of Credit, in each case, on the terms and subject to the conditions
set forth herein.

 

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

 

Article
1

Definitions and Accounting Terms

 

Section 1.01.     
Defined Terms. As used in this Agreement, the following terms shall have the meanings set forth below:

 

“Acceptable Discount” has the
meaning specified in ‎Section 2.05(d)(iii).

 

“Acceptance Date” has the meaning
specified in ‎Section 2.05(d)(ii).

 

“Accounting Changes” has the
meaning specified in ‎Section 1.03(d).

 

    

     

    

 

“Acquired EBITDA” means, with
respect to any Acquired Entity or Business that, in each case, becomes or is acquired by a Restricted Subsidiary during the relevant period
or any Converted Restricted Subsidiary for any period, the amount for such period of Consolidated EBITDA (determined using the definition
of “Consolidated EBITDA” and the other defined terms used therein as if references to the Borrower and the Restricted
Subsidiaries therein were to such Acquired Entity or Business and its Subsidiaries or Converted Restricted Subsidiary and its Subsidiaries,
as the case may be that, in each case, becomes or is acquired by a Restricted Subsidiary) of such Acquired Entity or Business or Converted
Restricted Subsidiary, as determined on a consolidated basis for such Acquired Entity or Business or Converted Restricted Subsidiary.

 

“Acquired Entity or Business”
has the meaning specified in the definition of the term “Consolidated EBITDA.”

 

“Additional Lender” has the
meaning specified in ‎Section 2.14(c).

 

“Administrative Agent” means,
subject to ‎Section 9.12, Bank of America, in its capacity as administrative
agent under the Loan Documents, or any successor administrative agent appointed in accordance with ‎‎‎Section
9.08.

 

“Administrative Agent’s Office”
means, with respect to any currency, the Administrative Agent’s address and, as appropriate, account as set forth on Schedule ‎10.02
with respect to such currency, or such other address or account as the Administrative Agent may from time to time notify the Borrower
and the Lenders.

 

“Administrative Questionnaire”
means an Administrative Questionnaire in a form supplied by the Administrative Agent.

 

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

 

“Affiliate” means, with respect
to any Person, another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under
common Control with the Person specified. “Control” means the possession, directly or indirectly, of the power to direct
or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or
otherwise. “Controlling” and “Controlled” have meanings correlative thereto.

 

“Agent Fee Letter” means the
fee letter dated April 22, 2021 among the Borrower, Bank of America and BofA Securities, Inc., as amended, supplemented or otherwise modified
from time to time.

 

“Agents” means, collectively,
the Administrative Agent, the Collateral Agent, and the Supplemental Administrative Agents (if any).

 

“Aggregate Commitments” means
the Commitments of all the Lenders.

 

“Agreement” means this Amended
and Restated Credit Agreement.

 

    2

     

    

 

“Agreement Currency” has the
meaning specified in ‎Section 10.17.

 

“Alternative Currency” means
each of Euro, British Pounds Sterling and Canadian Dollars.

 

“Anti-Money Laundering Laws”
means any and all laws, judgments, orders, executive orders, decrees, ordinances, rules, regulations, statutes, case law or treaties applicable
to a Loan Party or its Subsidiaries, related to terrorism financing or money laundering including any applicable provision of Title III
of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (“USA
PATRIOT Act”) of 2001 (Title III of Pub. L. 107-56) and The Currency and Foreign Transactions Reporting Act (also known as the
 “Bank Secrecy Act”, 31 U.S.C. §§ 5311-5330 and 12 U.S.C. §§ 1818(s), 1820(b) and 19511959).

 

“Applicable Discount” has the
meaning specified in ‎Section 2.05(d)(iii).

 

“Applicable Lending Office”
means for any Lender, such Lender’s office, branch or affiliate designated for Eurodollar Rate Loans, Base Rate Loans, LIBOR Daily
Floating Rate Loans, L/C Advances or Letters of Credit, as applicable, as notified to the Administrative Agent and the Borrower or as
otherwise specified in the Assignment and Assumption pursuant to which such Lender became a party hereto, any of which offices may, subject
to Section ‎3.01(e) and ‎Section
3.02, be changed by such Lender upon ten (10) days’ prior written notice to the Administrative Agent and the Borrower; provided
that, for the purposes of the definition of “Excluded Taxes” and ‎Section
3.01, any such change shall be deemed an assignment made pursuant to an Assignment and Assumption.

 

“Applicable Rate” means a percentage
per annum equal to: (a) until delivery of financial statements and a related Compliance Certificate for the fiscal quarter ending June
30, 2021, (A) for Eurodollar Rate Loans that are Revolving Credit Loans, Eurodollar Rate Loans that are Term A Loans and Letter of Credit
Fees, 1.75%, (B) for Base Rate Loans that are Revolving Credit Loans and Base Rate Loans that are Term A Loans, 0.75%, (C) for Revolving
Credit Loans that are LIBOR Daily Floating Rate Loans, 1.75%, and (D) for Commitment Fees, 0.25%, and (b) thereafter, in connection with
the Revolving Credit Loans, Term A Loans, Commitment Fees and Letter of Credit Fees, the percentages per annum set forth in the table
below, based upon the First Lien Net Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative
Agent pursuant to ‎Section 6.02(a):

 

Applicable Rate

 

	Pricing

 Level	 	First Lien Net Leverage Ratio	 	Letter of Credit Fees	 	 	Base Rate for Revolving Credit Loans and Term A Loans	 	 	Eurodollar Rate for Revolving Credit Loans and Term A Loans	 	 	LIBOR Daily Floating Rate Loans	 	 	Commitment 

Fee	 
	I	 	≥ 3.50:1.00	 	 	2.00	%	 	 	1.00	%	 	 	2.00	%	 	 	2.00	%	 	 	0.30	%
	II	 	≥ 2.25:1.00 and <3.50:1.00	 	 	1.75	%	 	 	0.75	%	 	 	1.75	%	 	 	1.75	%	 	 	0.25	%
	III	 	<2.25:1.00	 	 	1.50	%	 	 	0.50	%	 	 	1.50	%	 	 	1.50	%	 	 	0.20	%

 

    3

     

    

 

Any increase or decrease in the Applicable Rate
resulting from a change in the First Lien Net Leverage Ratio shall become effective as of the first Business Day immediately following
the date a Compliance Certificate is delivered pursuant to ‎Section
6.02(a); provided, however, that if a Compliance Certificate is not delivered when due in accordance with such Section,
then Pricing Level I shall apply as of the first Business Day after the date on which such Compliance Certificate was required to have
been delivered and shall remain in effect until the first Business Day immediately following the date a Compliance Certificate is delivered
in accordance with ‎Section 6.02(a).

 

Notwithstanding anything to the contrary contained
above in this definition or elsewhere in this Agreement, if it is subsequently determined that the First Lien Net Leverage Ratio set forth
in any Compliance Certificate delivered to the Administrative Agent is inaccurate for any reason and the result thereof is that the Lenders
received interest or fees for any period based on an Applicable Rate that is less than that which would have been applicable had the First
Lien Net Leverage Ratio been accurately determined, then, for all purposes of this Agreement, the “Applicable Rate”
for any day occurring within the period covered by such Compliance Certificate shall retroactively be deemed to be the relevant percentage
as based upon the accurately determined First Lien Net Leverage Ratio for such period, and any shortfall in the interest or fees theretofore
paid by the Borrower for the relevant period pursuant to Section ‎2.09
and Section ‎2.10 as a result of the miscalculation of the First
Lien Net Leverage Ratio shall be deemed to be (and shall be) due and payable under the relevant provisions of Section ‎2.09
or Section ‎2.10, as applicable, at the time the interest or fees
for such period were required to be paid pursuant to said Section (and shall remain due and payable until paid in full, together with
all amounts owing under ‎Section 2.09 (other than ‎Section
2.09(b)), in accordance with the terms of this Agreement); provided that, notwithstanding the foregoing, so long as an Event of
Default described in ‎Section 8.01(f) has not occurred with respect
to the Borrower, such shortfall shall be due and payable five (5) Business Days following the determination described above.

 

Notwithstanding the foregoing, the Applicable Rate
in respect of any Class of Extended Revolving Credit Commitments or any Incremental Term Loans, Extended Term Loans or Revolving Credit
Loans made pursuant to any Extended Revolving Credit Commitments shall be the applicable percentages per annum set forth in the relevant
Incremental Facility Amendment or Extension Offer.

 

“Appropriate Lender” means,
at any time, (a) with respect to Loans of any Class, the Lenders of such Class and (b) with respect to any Letters of Credit, (i) the
relevant L/C Issuer and (ii) the Revolving Credit Lenders.

 

“Approved Foreign Bank” has
the meaning specified in the definition of “Cash Equivalents.”

 

“Approved Fund” means, with
respect to any Lender, any Fund that is administered, advised or managed by (a) such Lender, (b) an Affiliate of such Lender or (c) an
entity or an Affiliate of an entity that administers, advises or manages such Lender.

 

    4

     

    

 

“Assignees” has the meaning
specified in ‎Section 10.07(b)(i).

 

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

 

“Attorney Costs” means and includes
all reasonable fees, expenses and disbursements of any law firm or other external legal counsel.

 

“Attributable Indebtedness”
means, on any date, in respect of any Capitalized Lease, the capitalized amount thereof that would appear on a consolidated balance sheet
of the Borrower and its Restricted Subsidiaries prepared as of such date in accordance with GAAP.

 

“Auction Agent” means (a) the
Administrative Agent or (b) any other financial institution or advisor employed by the Borrower (whether or not an Affiliate of the Administrative
Agent) to act as an arranger in connection with any Discounted Loan Prepayment pursuant to ‎Section
2.05(d); provided that the Borrower shall not designate the Administrative Agent as the Auction Agent without the written consent of the
Administrative Agent (it being understood that the Administrative Agent shall be under no obligation to agree to act as the Auction Agent).

 

“Audited Financial Statements”
means the audited consolidated balance sheet of the Borrower and its Subsidiaries as of June 30, 2020 and 2019 and the related consolidated
statements of operations, comprehensive income, changes in stockholders’ equity and cash flows of the Borrower and its Subsidiaries
for each of the three years in the period ended June 30, 2020, including the related notes thereto.

 

“Auto-Renewal Letter of Credit”
has the meaning specified in ‎Section 2.03(b)(iii).

 

“Bail-In Action” means the exercise
of any Write-Down and Conversion Powers by the applicable Resolution Authority in respect of any liability of an 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, regulation, rule or requirement for such EEA Member Country from time to time which is described
in the EU 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 time) and any other law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing
banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency
proceedings).

 

“Bank of America” has the meaning
specified in the introductory paragraph to this Agreement.

 

“Bankruptcy Code” means Title
11 of the United State Code, as amended, or any similar federal or state law for the relief of debtors.

 

    5

     

    

 

“Bankruptcy Event” means, with
respect to any Person, such Person or its parent entity becomes the subject of a bankruptcy or insolvency proceeding, or has had a receiver,
conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization
or liquidation of its business appointed for it, or, in the good faith determination of the Administrative Agent, has taken any action
in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment; provided
that a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition of any ownership interest, in
such Person by a Governmental Authority or instrumentality thereof; provided, further, that such ownership interest does not result
in or provide such Person with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments
or writs of attachment on its assets or permit such Person (or such Governmental Authority or instrumentality) to reject, repudiate, disavow
or disaffirm any contracts or agreements made by such Person or its parent entity.

 

“Base Rate” means a fluctuating
rate per annum, for any day, equal to the highest of:

 

(a)       the
rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate”;

 

(b)       1/2
of 1% per annum above the Federal Funds Rate; and

 

(c)       the
Eurodollar Rate plus 1%.

 

The “prime rate” is a rate set by Bank of America
based upon various factors including Bank of America’s costs and desired return, general economic conditions and other factors,
and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such
prime rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of
such change.

 

“Base Rate Loan” means a Loan
that bears interest at a rate based on the Base Rate.

 

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

 

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

 

“Benefit Plan” means any of
(a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I of ERISA, (b) a “plan” as defined
in and subject to Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for
purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”.

 

“Borrower” has the meaning specified
in the introductory paragraph to this Agreement.

 

“Borrower Materials” has the
meaning specified in ‎Section 6.02.

 

    6

     

    

 

“Borrowing” means Loans of the
same Class, Type and currency, made, converted or continued on the same date and, in the case of Eurodollar Rate Loans, as to which a
single Interest Period is in effect.

 

“Brazil Entity” means any Subsidiary
of the Borrower organized under the laws of Brazil or any state thereof.

 

“British Pounds Sterling” and
 “£” mean the lawful currency of the United Kingdom.

 

“Business Day” means any day
other than a Saturday, Sunday or other day on which commercial banks are authorized to close under the Laws of, or are in fact closed
in, the state where the Administrative Agent’s Office with respect to Obligations denominated in Dollars is located; provided that,
if such day relates to any interest rate settings as to a Eurodollar Rate Loan or a LIBOR Daily Floating Rate Loan denominated in Dollars,
any fundings, disbursements, settlements and payments in Dollars in respect of any such Eurodollar Rate Loan or such LIBOR Daily Floating
Rate Loan, or any other dealings in Dollars to be carried out pursuant to this Agreement in respect of any such Eurodollar Rate Loan or
such LIBOR Daily Floating Rate Loan, means any such day on which dealings in deposits in Dollars are conducted by and between banks in
the London interbank eurodollar market.

 

“Capital Expenditures” means,
for any period, the aggregate of, without duplication, (a) all expenditures (whether paid in cash or accrued as liabilities and including
Capitalized Research and Development Costs and Capitalized Software Expenditures) by the Borrower and its Restricted Subsidiaries during
such period that, in conformity with GAAP, are or are required to be included as additions during such period to property, plant or equipment
reflected in the consolidated balance sheet of the Borrower and its Restricted Subsidiaries and (b) Capitalized Lease Obligations incurred
by the Borrower and its Restricted Subsidiaries during such period.

 

“Capitalized Lease Obligation”
means, at the time any determination thereof is to be made, the amount of the liability in respect of a Capitalized Lease that would at
such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) prepared in
accordance with GAAP.

 

“Capitalized Leases” means all
leases that are required to be, in accordance with GAAP, recorded as capitalized leases; provided that for all purposes hereunder
the amount of obligations under any Capitalized Lease shall be the amount thereof accounted for as a liability in accordance with GAAP.

 

“Capitalized Research and Development
Costs” means research and development costs that are required to be, in accordance with GAAP, capitalized.

 

“Capitalized Software Expenditures”
means, for any period, the aggregate of all expenditures (whether paid in cash or accrued as liabilities) by a Person and its Restricted
Subsidiaries during such period in respect of purchased software or internally developed software and software enhancements that, in conformity
with GAAP, are or are required to be reflected as capitalized costs on the consolidated balance sheet of a Person and its Restricted Subsidiaries.

 

    7

     

    

 

“Cash Collateralize” means to
pledge and deposit with or deliver to the Administrative Agent, for the benefit of the Administrative Agent, any relevant L/C Issuer and
the Revolving Credit Lenders, as collateral for L/C Obligations or obligations of Revolving Credit Lenders to fund participations in respect
of either thereof (as the context may require), cash or deposit account balances or, if the relevant L/C Issuer benefiting from such collateral
shall agree in its sole discretion, other credit support, in each case pursuant to documentation in form and substance reasonably satisfactory
to (a) the Administrative Agent and (b) such L/C Issuer. “Cash Collateral” shall have a meaning correlative to the
foregoing and shall include the proceeds of such cash collateral and other credit support.

 

“Cash Equivalents” means any
of the following types of Investments, to the extent owned by the Borrower or any Restricted Subsidiary, whether denominated in Dollars
or an Alternative Currency:

 

(1)       Dollars
or any Alternative Currency;

 

(2)       securities
issued or directly and fully and unconditionally guaranteed or insured by the United States government or any agency or instrumentality
of the foregoing the securities of which are unconditionally guaranteed as a full faith and credit obligation of such government with
maturities of 24 months or less from the date of acquisition;

 

(3)       certificates
of deposit, time deposits and eurodollar time deposits with maturities of one year or less from the date of acquisition, with any domestic
or foreign commercial bank having capital and surplus of not less than $500,000,000 in the case of U.S. banks and $100,000,000 (or the
Dollar Equivalent as of the date of determination) in the case of non-U.S. banks;

 

(4)       repurchase
obligations for underlying securities of the types described in clauses (2), (3) and (7) of this definition entered into with any financial
institution meeting the qualifications specified in clause (3) above;

 

(5)       commercial
paper rated at least “P-1” by Moody’s or at least “A-1” by S&P, and in each case maturing
within 24 months after the date of creation thereof and Indebtedness or preferred stock issued by Persons with a rating of “A”
or higher from S&P or “A2” or higher from Moody’s, with maturities of 24 months or less from the date of
acquisition;

 

(6)       marketable
short-term money market and similar securities having a rating of at least “P1” or “A-1” from either
Moody’s or S&P, respectively (or, if at any time neither Moody’s nor S&P shall be rating such obligations, an equivalent
rating from another nationally recognized statistical rating agency selected by the Borrower) and in each case maturing within 24 months
after the date of creation or acquisition thereof;

 

(7)       readily
marketable direct obligations issued by any state, commonwealth or territory of the United States or any political subdivision or taxing
authority thereof having an Investment Grade Rating from Moody’s or S&P with maturities of 24 months or less from the date of
acquisition;

 

    8

     

    

 

(8)       readily
marketable direct obligations issued by any foreign government or any political subdivision or public instrumentality thereof, in each
case having an Investment Grade Rating from Moody’s or S&P with maturities of 24 months or less from the date of acquisition;

 

(9)       Investments
with average maturities of 12 months or less from the date of acquisition in money market funds rated within the top three ratings category
by S&P or Moody’s;

 

(10)       with
respect to any Foreign Subsidiary: (i) obligations of the national government of the country in which such Foreign Subsidiary maintains
its chief executive office and principal place of business provided such country is a member of the Organization for Economic Cooperation
and Development, in each case maturing within one year after the date of investment therein, (ii) certificates of deposit of, bankers
acceptances of, or time deposits with, any commercial bank which is organized and existing under the laws of the country in which such
Foreign Subsidiary maintains its chief executive office and principal place of business provided such country is a member of the
Organization for Economic Cooperation and Development, and whose short-term commercial paper rating from S&P is at least “A-1”
or the equivalent thereof or from Moody’s is at least “P-1” or the equivalent thereof (any such bank being an
 “Approved Foreign Bank”), and in each case with maturities of not more than 270 days from the date of acquisition and
(iii) the equivalent of demand deposit accounts which are maintained with an Approved Foreign Bank; and

 

(11)       investment
funds investing 90% of their assets in securities of the types described in clauses (1) through (10) above.

 

“Cash Management Bank” means
any Lender, any Agent, any Lead Arranger or any Affiliate of the foregoing providing treasury, depository, credit or debit card, purchasing
card and/or cash management services or automated clearing house transfers of funds to the Borrower or any Restricted Subsidiary or conducting
any automated clearing house transfers of funds.

 

“Cash Management Obligations”
means obligations owed by the Borrower or any Restricted Subsidiary to any Cash Management Bank in respect of any overdraft and related
liabilities arising from treasury, depository, credit or debit card, purchasing card, zero balance accounts, returned check concentration,
controlled disbursement, lockbox, account reconciliation, reporting and trade finance services, or cash management services or any automated
clearing house transfers of funds.

 

“Casualty Event” means any event
that gives rise to the receipt by the Borrower or any Restricted Subsidiary of any casualty insurance proceeds or condemnation awards
in respect of any equipment, fixed assets or real property (including any improvements thereon) to replace or repair such equipment, fixed
assets or real property.

 

“CFC” means a “controlled
foreign corporation” within the meaning of Section 957 of the Code.

 

    9

     

    

 

“Change in Law” means the occurrence,
after the date of this Agreement, of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b)
any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any
Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of
law) by any Governmental Authority; provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street
Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and
(y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking
Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel
III, shall in each case be deemed to be a “Change in Law”, regardless of the date enacted, adopted, issued, implemented
or promulgated.

 

“Change of Control” means the
earlier to occur of:

 

(1)       the
Borrower becomes aware of (by way of a report or any other filing pursuant to Section 13(d) of the Exchange Act, proxy, vote, written
notice or otherwise) any “person” or “group” of related persons (as such terms are used in Sections
13(d) and 14(d) of the Exchange Act as in effect on the Issue Date), other than one or more Permitted Holders, is or becomes the “beneficial
owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act as in effect on the Issue Date), directly or indirectly,
of more than 50% of the total voting power of the Voting Stock of the Borrower (other than a transaction following which holders of securities
that represented 100% of the Voting Stock of Borrower, immediately prior to such transaction (or other securities into which such securities
are converted as part of such transaction) own, directly or indirectly, at a least a majority of the voting power of the Voting Stock
of the surviving Person in such transaction immediately after such transaction);

 

(2)       the
sale, lease, transfer, conveyance or other disposition (other than by way of merger, consolidation or other business combination transaction),
in one or a series of related transactions, of all or substantially all of the assets of the Borrower and its Restricted Subsidiaries
taken as a whole to a Person, other than a Restricted Subsidiary or one or more Permitted Holders; or

 

(3)       during
any period of 12 consecutive months, individuals who at the beginning of such period constituted the Board of Directors (together with
or as replaced by any new directors whose election to such Board of Directors or whose nomination for election by the stockholders of
the Borrower was approved by (i) the majority in interest of the Permitted Holders or (ii) a vote of the majority of the directors of
the Borrower then still in office who were either directors at the beginning of such period or whose election or nomination for election
was previously so approved) cease for any reason to constitute a majority of the Board of Directors of the Borrower.

 

    10

     

    

 

“Class” (a) when used with
respect to Lenders, refers to whether such Lenders are Revolving Credit Lenders or Term Lenders, (b) when used with respect to
Commitments, refers to whether such Commitments are Revolving Credit Commitments, Term A Commitments, Extended Revolving Credit
Commitments, Refinancing Revolving Commitments, an Incremental Revolving Commitment, Commitments in respect of any Extended Term
Loans or Commitments in respect of any Incremental Term Loans and (c) when used with respect to Loans or a Borrowing, refers to
whether such Loans, or the Loans comprising such Borrowing, are Revolving Credit Loans, Term A Loans, Extended Term Loans or
Incremental Term Loans. Incremental Term Loans and Extended Term Loans that have different terms and conditions (together with the
Commitments in respect thereof) shall be construed to be in different Classes.

 

“Closing Date” means the date
that all the conditions precedent in ‎Section 4.01 are satisfied
or waived in accordance with ‎Section 10.01 (it being understood
that such date occurred on June 29, 2017).

 

“Code” means the U.S. Internal
Revenue Code of 1986, as amended from time to time.

 

“Collateral” means all the “Collateral”
as defined in the Collateral Documents and shall include the Mortgaged Properties.

 

“Collateral Agent” means Bank
of America, in its capacity as collateral agent under any of the Loan Documents, or any successor collateral agent appointed in accordance
with ‎Section 9.08.

 

“Collateral and Guarantee Requirement”
means, at any time on and after the Closing Date, the requirement that:

 

(a)       the
Collateral Agent shall have received each Collateral Document required to be delivered on the Closing Date pursuant to ‎Section
4.01 or pursuant to Section ‎6.11 or Section ‎6.13
at such time, duly executed by each Loan Party that is a party thereto;

 

(b)       all
Obligations shall have been unconditionally guaranteed (the “Guaranties”) by each Wholly-Owned Restricted Subsidiary
(other than any Excluded Subsidiary), including as of the Restatement Effective Date those that are listed on Schedule 1.01A hereto (each,
a “Guarantor”);

 

(c)       the
Obligations and the Guaranties shall have been secured pursuant to the Security Agreement by a first-priority security interest in
all the Equity Interests (other than (i) Equity Interests of De Minimis Foreign Subsidiaries, (ii) any Equity Interest of any
Subsidiary acquired pursuant to a Permitted Acquisition financed with Indebtedness incurred pursuant to ‎Section
7.03(w) if such Equity Interests are pledged as security for such Indebtedness and if and for so long as the terms of such
Indebtedness prohibit the creation of any other Lien on such Equity Interests and (iii) Equity Interests of any JV Entity if and for
so long as the terms of any Contractual Obligation existing on the Closing Date prohibit the creation of any other Lien on such
Equity Interests (or with respect to any JV Entity acquired after the Closing Date, as of the date of such acquisition; provided
such Contractual Obligation was not entered into in connection with or anticipation of such acquisition)) held directly by the
Borrower or any Guarantor in any Restricted Subsidiary (limited, in the case of Equity Interests of any Foreign Subsidiary not
otherwise excluded from this clause (c), to 65% of the issued and outstanding Equity Interests of each such Foreign Subsidiary);

 

    11

     

    

 

(d)       except
to the extent otherwise provided hereunder or under any Collateral Document, the Obligations and the Guaranties shall have been secured
by a perfected security interest (other than in the case of mortgages, to the extent such security interest may be perfected by delivering
certificated securities, filing personal property financing statements or making any necessary filings with the United States Patent and
Trademark Office or United States Copyright Office) in, and mortgages on, substantially all tangible and intangible assets of the Borrower
and each Guarantor (including, without limitation, accounts receivable, inventory, equipment, investment property, United States intellectual
property, other general intangibles (including contract rights), intercompany notes that are negotiable instruments, owned (but not leased)
real property and proceeds of the foregoing), in each case, with the priority required by the Collateral Documents; provided that
security interests in real property shall be limited to the Mortgaged Properties;

 

(e)       none
of the Collateral shall be subject to any Liens other than Liens permitted by ‎Section
7.01; and

 

(f)       the
Collateral Agent shall have received (i) counterparts of a Mortgage with respect to each Material Real Property required to be
delivered pursuant to Section ‎6.11 and Section ‎6.13
or with respect to the properties with an existing Mortgage under the Existing Credit Agreement, an executed modification to the
existing Mortgage, in form and substance reasonably satisfactory to the Administrative Agent, modifying any maximum secured amount
stated therein and confirming that the Lien of such Mortgage secures the Obligations and otherwise ratifying and confirming the Lien
of such Mortgage, (the “Mortgaged Properties”) duly executed and delivered by the record owner of such property,
(ii) a title insurance policy or a date down endorsement (or, to the extent not available in the applicable jurisdiction, a
modification endorsement) to the existing title insurance policy for such property or the equivalent or other form (if applicable)
available in each applicable jurisdiction (the “Mortgage Policies”) insuring the Lien of each such Mortgage in an
amount not to exceed the fair market value of each such Material Real Property (as reasonably determined by the Borrower) as a valid
Lien on the property described therein, free of any other Liens except as expressly permitted by ‎Section
7.01, together with such endorsements, coinsurance and reinsurance as the Collateral Agent may reasonably request, (iii) a completed
Life of Loan Federal Emergency Management Agency Standard Flood Hazard Determination with respect to each Mortgaged Property
(together with a notice about special flood hazard area status and flood disaster assistance duly executed by the Borrower and each
Loan Party relating thereto) and if any improvements on any Mortgaged Property is located in an area designated as a
 “special flood hazard area,” evidence of such flood insurance as may be required under ‎Section
6.07, (iv) solely with respect to the requirements of Section 6.11, upon the reasonable request of the Collateral Agent, an
environmental assessment provided by the Borrower in scope, form and substance reasonably satisfactory to the Collateral Agent
(provided that the Borrower shall only be required to deliver  the foregoing to the extent such request is received by
the Borrower no later than six months after the date upon which such Material Real Property becomes a Mortgaged Property; provided
further that, the Borrower shall not be required to deliver any additional environmental assessments with respect to any
Mortgaged Property other than as required under this clause (f)) and (v) such existing surveys, existing abstracts, existing
appraisals, existing environmental assessment reports, legal opinions and other documents as the Collateral Agent may reasonably
request with respect to any such Mortgaged Property.

 

    12

     

    

 

The foregoing definition shall not require the
creation or perfection of pledges of or security interests in, or the obtaining of title insurance or surveys with respect to, particular
assets if and for so long as the Administrative Agent and the Borrower agree in writing that the cost of creating or perfecting such pledges
or security interests in such assets or obtaining title insurance or surveys in respect of such assets shall be excessive in view of the
benefits to be obtained by the Lenders therefrom.

 

The Administrative Agent may grant extensions of
time for creation or the perfection of security interests in or the obtaining of title insurance and surveys with respect to particular
assets (including extensions beyond the Closing Date for the perfection of security interests in the assets of the Loan Parties on such
date) where it reasonably determines, in consultation with the Borrower, that creation or perfection cannot be accomplished without undue
effort or expense by the time or times at which it would otherwise be required by this Agreement or the Collateral Documents.

 

Notwithstanding the foregoing, the Administrative
Agent shall not enter into any Mortgage in respect of any real property acquired by the Borrower or any other Loan Party after the Closing
Date until (1) the date that occurs 45 days after the Administrative Agent has delivered to the Lenders (which may be delivered electronically)
the following documents in respect of such real property: (i) a completed flood hazard determination from a third party vendor; (ii) if
such real property is located in a “special flood hazard area”, (A) a notification to the Borrower (or applicable Loan Party)
of that fact and (if applicable) notification to the Borrower (or applicable Loan Party) that flood insurance coverage is not available
and (B) evidence of the receipt by the Borrower (or applicable Loan Party) of such notice; and (iii) if such notice is required to be
provided to the Borrower (or applicable Loan Party) and flood insurance is available in the community in which such real property is located,
evidence of required flood insurance and (2) the Administrative Agent shall have received written confirmation from the Lenders that flood
insurance due diligence and flood insurance compliance has been completed by the Lenders (such written confirmation not to be unreasonably
conditioned, withheld or delayed).

 

Notwithstanding the foregoing provisions of
this definition or anything in this Agreement or any other Loan Document to the contrary, (a) with respect to leases of real
property entered into by any Loan Party, such Loan Party shall not be required to take any action with respect to creation or
perfection of security interests with respect to such leases; (b) Liens and the Guaranties required to be granted from time to time
pursuant to the Collateral and Guarantee Requirement shall be subject to exceptions and limitations set forth in the Collateral
Documents and, to the extent appropriate in the applicable jurisdiction, as agreed in writing between the Administrative Agent and
the Borrower; (c) the Collateral and Guarantee Requirement shall not apply to any of the following assets: (i) any fee-owned real
property that is not a Material Real Property or that is located in a jurisdiction other than the United States and any leasehold
interests in real property, (ii) motor vehicles and other assets subject to certificates of title to the extent a Lien thereon
cannot be perfected by the filing of a UCC financing statement (or equivalent), letter of credit rights and commercial tort claims,
(iii) assets for which a pledge thereof or a security interest therein is prohibited by applicable Laws, (iv) any lease, license or
other agreements or any property subject to a purchase money security interest, Capitalized Lease Obligation or similar
arrangements, in each case to the extent permitted under the Loan Documents, to the extent that a pledge thereof or a security
interest therein would violate or invalidate such lease, license or agreement, purchase money, Capitalized Lease or similar
arrangement, or create a right of termination in favor of any other party thereto (other than a Borrower or a Guarantor) after
giving effect to the applicable anti-assignment clauses of the Uniform Commercial Code and applicable Laws, other than the proceeds
and receivables thereof the assignment of which is expressly deemed effective under applicable Laws notwithstanding such
prohibition, (v) any Equity Interest of any Subsidiary the pledge of which is prohibited by applicable law or which would require
governmental consent, approval, license or authorization unless such consent, approval, license or authorization has been received
(but Borrower shall use its commercially reasonably efforts to obtain such consent, approval, license or authorization), (vi) any
intent-to-use trademark application prior to the filing and acceptance of a verified statement of use or amendment to allege use
with respect thereto to the extent, if any, that, and solely during the period, if any, in which the grant, attachment or assignment
(apart from the business or that portion of the business to which it relates) of a security interest therein would impair the
validity or enforceability of such intent-to-use trademark application under the federal laws of the United States and (vii) any
assets to the extent a security interest in such assets would result in material adverse tax consequences as reasonably determined
by the Borrower and the Administrative Agent; (d) no deposit account control agreement, securities account control agreement or
other control agreements or control arrangements shall be required with respect to any deposit account, securities account or other
asset specifically requiring perfection through control agreements; (e) no landlord waivers, estoppels, warehouseman waiver or other
collateral access or similar letters or agreements shall be required; (f) no action shall be required with respect to any
Intellectual Property (as defined in the Security Agreement) that is governed solely by the laws of a jurisdiction other than the
United States; and (g) no actions in any jurisdiction outside of the United States or that are necessary to comply with the Laws of
any jurisdiction outside of the United States shall be required in order to create any security interests in assets located, titled,
registered or filed outside of the United States or to perfect such security interests (it being understood that there shall be no
security agreements, pledge agreements, or share charge (or mortgage) agreements governed under the Laws of any jurisdiction outside
of the United States).

 

    13

     

    

 

“Collateral Documents” means,
collectively, the Security Agreement, the Mortgages, each of the mortgages, collateral assignments, Security Agreement Supplements, security
agreements, pledge agreements, intellectual property security agreements or other similar agreements delivered to the Collateral Agent
and the Lenders pursuant to Section ‎4.01(f), Section ‎6.11
or Section ‎6.13, the Guaranty and each of the other agreements,
instruments or documents that creates or purports to create a Lien or Guaranty in favor of the Collateral Agent for the benefit of the
Secured Parties.

 

“Commitment” means a Term
A Commitment, a Revolving Credit Commitment, an Extended Revolving Credit Commitment, an Incremental Revolving Credit Commitment, a
Refinancing Revolving Commitment, a commitment in respect of any Incremental Term Loans or a commitment in respect of any Extended
Term Loans or any combination thereof, as the context may require.

 

    14

     

    

 

 

“Commitment Fee” has the meaning
provided in ‎Section 2.09(a).

 

“Committed Loan Notice” means
a notice of (a) a Term Borrowing, (b) a Revolving Credit Borrowing, (c) a conversion of Loans from one Type to the other, or (d) a continuation
of Eurodollar Rate Loans, pursuant to ‎Section 2.02(a), which, if
in writing, shall be substantially in the form of Exhibit A or such other form as may be approved by the Administrative Agent (including
any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately
completed and signed by a Responsible Officer of the Borrower.

 

“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” has the meaning specified
in ‎Section 5.19(b) of this Agreement.

 

“Compliance Certificate” means
a certificate substantially in the form of Exhibit D.

 

“Consolidated Cash Interest Charges”
means, as of any date for the applicable period ending on such date with respect to Borrower and its Restricted Subsidiaries on a consolidated
basis, the Consolidated Interest Expense paid or payable in cash only and solely in respect of Indebtedness for borrowed money and excluding,
for the avoidance of doubt, (i) amortization of deferred financing costs, debt issuance costs, commissions, fees and expenses, (ii) any
expenses resulting from discounting of indebtedness in connection with the application of recapitalization accounting or purchase accounting,
(iii) penalties or interest related to taxes and any other amounts of noncash interest resulting from the effects of acquisition method
accounting or pushdown accounting), (iv) the accretion or accrual of, or accrued interest on, discounted liabilities during such period,
(v) any one-time cash costs associated with breakage in respect of swap contracts for interest rates, (vi) all non-recurring interest
expense consisting of liquidated damages for failure to timely comply with registration rights obligations, all as calculated on a consolidated
basis in accordance with GAAP, (vii) fees and expenses in connection with any amendment or waiver of Indebtedness and (viii) expensing
of bridge, arrangement, structuring, commitment or other financing fees or periodic bank fees. Notwithstanding the foregoing, “Consolidated
Cash Interest Charges” shall include, without duplication, (x) the interest component of Capitalized Lease Obligations and (y) net
payments, if any, pursuant to interest rate obligations under any Swap Contracts with respect to Indebtedness.

 

“Consolidated Depreciation and Amortization
Expense” means, for any period, the total amount of depreciation and amortization expense, including the amortization of deferred
financing fees or costs, capital expenditures and the amortization of original issue discount resulting from the issuance of Indebtedness
at less than par, of the Borrower and its Restricted Subsidiaries for such period on a consolidated basis and otherwise as determined
in accordance with GAAP.

 

    15

     

    

 

“Consolidated EBITDA” means,
for any Period, the Consolidated Net Income of the Borrower and its Restricted Subsidiaries for such period:

 

(a)       increased
(without duplication) by the following:

 

(i)       provision
for taxes based on income or profits or capital, including, without limitation, state, franchise and similar taxes and foreign withholding
taxes of the Borrower and its Restricted Subsidiaries paid or accrued during such period, including any penalties and interest relating
to any tax examinations, deducted (and not added back) in computing Consolidated Net Income; plus

 

(ii)       Consolidated
Interest Expense of the Borrower and its Restricted Subsidiaries for such period (including (w) bank fees, (x) payments made or received
under any Swap Contracts or other derivative instruments entered into for the purpose of hedging interest rate risk and (y) costs of surety
bonds in connection with financing activities); plus

 

(iii)       Consolidated
Depreciation and Amortization Expense of the Borrower and its Restricted Subsidiaries for such period to the extent the same were deducted
(and not added back) in computing Consolidated Net Income; plus

 

(iv)       any
expenses or charges related to any equity offering, Investment, acquisition, disposition or recapitalization permitted hereunder or the
incurrence of Indebtedness permitted to be incurred hereunder (including a refinancing thereof) (in each case, whether or not successful),
including (A) such fees, expenses or charges related to the Loans and any other credit facilities and (B) any amendment or other modification
of the Loans and any other credit facility or issuance of Indebtedness, in each case, deducted (and not added back) in computing Consolidated
Net Income; plus

 

(v)       the
amount of any restructuring charge or reserve, integration cost or other business optimization expense or cost associated with establishing
new facilities or with licensing or developing new products that is deducted (and not added back) in such period in computing Consolidated
Net Income, including any onetime costs incurred in connection with acquisitions on and after the Closing Date, and costs related to the
closure and/or consolidation of facilities; provided that the aggregate amount added back pursuant to this clause (v), clause (vii)
and clause (xiii) below and any increase to Consolidated EBITDA as a result of the Pro Forma Adjustment attributable to business optimization
expenses (other than as a result of an actual increase in revenues or an actual reduction in costs) for any period shall not exceed (on
a Pro Forma Basis) 20% of Consolidated EBITDA for such period (before giving pro forma effect to such adjustments); provided further,
that the aggregate amount added back pursuant to this clause (v) with respect to costs associated with licensing or developing new products
shall not exceed $5 million; plus

 

(vi)       any
other non-cash charges, write-downs, expenses, losses or items reducing Consolidated Net Income for such period including any impairment
charges or the impact of purchase accounting, (excluding any such non-cash charge, write-down or item to the extent it represents an accrual
or reserve for a cash expenditure for a future period); plus

 

(vii)       the
amount of “run-rate” cost savings, operating expense reductions and synergies projected by the Borrower in good faith
and certified by a Responsible Officer of the Borrower in writing to the Administrative Agent to result from actions either taken or initiated
prior to or during such period (which cost savings and synergies shall be subject only to certification by a Responsible Officer of the
Borrower and shall be calculated on a pro forma basis as though such cost savings and synergies had been realized on the first day of
such period), net of the amount of actual benefits realized prior to or during such period from such actions; provided that (A)
a Responsible Officer of the Borrower shall have certified to the Administrative Agent that (x) such cost savings and synergies are reasonably
identifiable and (y) such actions have been taken or are expected to be taken within twelve (12) months after the date of determination
to take such action, (B) no cost savings or synergies shall be added pursuant to this clause (vii) to the extent duplicative of any expenses
or charges relating to such cost savings that are included in clause (v) above with respect to such period and (C) the aggregate amount
added back pursuant to clause (v) above, this clause (vii), clause (xiii) below, and any increase to Consolidated EBITDA as a result of
clause (b) of the Pro Forma Adjustment attributable to business optimization expenses (other than as a result of an actual increase in
revenues or an actual reduction in costs) for any period shall not exceed (on a Pro Forma Basis) 20% of Consolidated EBITDA for such period
(before giving pro forma effect to such adjustments); plus

 

(viii)       any
costs or expense incurred by the Borrower or a Restricted Subsidiary pursuant to any management equity plan or stock option plan or any
other management or employee benefit plan or agreement or any stock subscription or shareholder agreement, to the extent that such cost
or expenses are funded with cash proceeds contributed to the capital of the Borrower or net cash proceeds of an issuance of Equity Interests
of the Borrower (other than Disqualified Equity Interests); plus

 

    16

     

    

 

(ix)       cash
receipts (or any netting arrangements resulting in reduced cash expenditures) not representing Consolidated EBITDA or Consolidated Net
Income in any period to the extent non-cash gains relating to such income were deducted in the calculation of Consolidated EBITDA pursuant
to paragraph (b) below for any previous period and not added back; plus

 

(x)       any
net loss included in Consolidated Net Income attributable to non-controlling interests pursuant to the application of Accounting Standards
Codification Topic 810-10-45; plus

 

(xi)       realized
foreign exchange losses resulting from the impact of foreign currency changes on the valuation of assets or liabilities on the balance
sheet of the Borrower and its Restricted Subsidiaries;

 

(xii)       net
realized losses from Swap Contracts or embedded derivatives that require similar accounting treatment and the application of Accounting
Standard Codification Topic 815 and related pronouncements; and

 

(xiii)       any
costs or expenses incurred relating to environmental remediation, litigation or other disputes in respect of events and exposures that
are known prior to the Closing Date, provided that the aggregate amount added back pursuant to clause (v) above, clause (viii) above and
this clause (xiii), and any increase to Consolidated EBITDA as a result of clause (b) of the Pro Forma Adjustment attributable to business
optimization expenses (other than as a result of an actual increase in revenues or an actual reduction in costs) for any period shall
not exceed (on a Pro Forma Basis) 20% of Consolidated EBITDA for such period (before giving pro forma effect to such adjustments);

 

(b)       decreased
(without duplication) by: (i) non-cash gains increasing Consolidated Net Income of the Borrower and its Restricted Subsidiaries for such
period, excluding any non-cash gains to the extent they represent the reversal of an accrual or reserve for a potential cash item that
reduced Consolidated EBITDA in any prior period and any non-cash gains with respect to cash actually received in a prior period so long
as such cash did not increase Consolidated EBITDA in such prior period; plus (ii) realized foreign exchange income or gains resulting
from the impact of foreign currency changes on the valuation of assets or liabilities on the balance sheet of the Borrower and its Restricted
Subsidiaries; plus (iii) any net realized income or gains from any obligations under any Swap Contracts or embedded derivatives
that require similar accounting treatment and the application of Accounting Standard Codification Topic 815 and related pronouncements;
plus (iv) any amounts included in Consolidated Net Income of such Person for such period attributable to non-controlling interests
pursuant to the application of Accounting Standards Codification Topic 810-10-45;

 

(c)       increased
or decreased (without duplication) by, as applicable, any adjustments resulting for the application of Accounting Standards Codification
Topic 460 or any comparable regulation; and

 

(d)       increased
or decreased (to the extent not already included in determining Consolidated EBITDA) by any Pro Forma Adjustment.

 

There shall be included in determining
Consolidated EBITDA for any period, without duplication, (A) the Acquired EBITDA of any Person, property, business or asset acquired
by the Borrower or any Restricted Subsidiary during such period (but not the Acquired EBITDA of any related Person, property,
business or assets to the extent not so acquired) (including the Companies), to the extent not subsequently sold, transferred or
otherwise disposed of by the Borrower or such Restricted Subsidiary during such period (each such Person, property, business or
asset acquired and not subsequently so disposed of, an “Acquired Entity or Business”), and the Acquired EBITDA of
any Unrestricted Subsidiary that is converted into a Restricted Subsidiary during such period (each a “Converted Restricted
Subsidiary”), based on the actual Acquired EBITDA of such Acquired Entity or Business or Converted Restricted Subsidiary
for such period (including the portion thereof occurring prior to such acquisition) and (B) an adjustment in respect of each
Acquired Entity or Business equal to the amount of the Pro Forma Adjustment with respect to such Acquired Entity or Business for
such period (including the portion thereof occurring prior to such acquisition) as specified in a certificate executed by a
Responsible Officer and delivered to the Lenders and the Administrative Agent. For purposes of determining the Net Leverage Ratio,
the First Lien Net Leverage Ratio and the Consolidated Interest Coverage Ratio, there shall be excluded in determining Consolidated
EBITDA for any period the Disposed EBITDA of any Person, property, business or asset (other than an Unrestricted Subsidiary) sold,
transferred or otherwise disposed of, closed or classified as discontinued operations by the Borrower or any Restricted Subsidiary
during such period (each such Person, property, business or asset so sold or disposed of, a “Sold Entity or
Business”) and the Disposed EBITDA of any Restricted Subsidiary that is converted into an Unrestricted Subsidiary during
such period (each a “Converted Unrestricted Subsidiary”), based on the actual Disposed EBITDA of such Sold Entity
or Business or Converted Unrestricted Subsidiary for such period (including the portion thereof occurring prior to such sale,
transfer or disposition).

 

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“Consolidated First Lien Net Debt”
means, as of any date of determination, (a) the aggregate principal amount of Indebtedness of the Borrower and its Restricted Subsidiaries
outstanding on such date, determined on a consolidated basis in accordance with GAAP (but excluding the effects of any discounting of
Indebtedness resulting from the application of purchase accounting in connection with any Permitted Acquisition), consisting of, without
duplication, Indebtedness for borrowed money secured by a first priority Lien on the Collateral, obligations in respect of Capitalized
Leases and Indebtedness incurred pursuant to ‎Section 7.03(f) minus
(b) an amount equal to the excess of (i) (A) all unrestricted cash and Cash Equivalents (determined in accordance with GAAP) included
in the consolidated balance sheet of the Borrower and its domestic Restricted Subsidiaries held in the United States as of such date plus
(B) 100% of all unrestricted cash and Cash Equivalents included in the consolidated balance sheet of the Borrower, to the extent not held
in the United States, and of the Borrower’s foreign Restricted Subsidiaries in an amount up to $50 million plus 60% of any such
unrestricted cash and Cash Equivalents in excess of $50 million less (ii) $5,000,000; provided that Consolidated First Lien Net Debt shall
not include (x) Letters of Credit, except to the extent of drawn but unreimbursed amounts thereunder and (y) obligations under Swap Contracts.
Notwithstanding the foregoing, to the extent any guaranty by any Loan Party of indebtedness or other obligations of a Brazil Entity incurred
pursuant to Section 7.03(s) is secured, such guaranty shall be deemed to constitute Consolidated First Lien Net Debt for all purposes
hereunder.

 

“Consolidated Interest Coverage Ratio”
means, with respect to any Test Period, the ratio of (a) Consolidated EBITDA for such Test Period to (b) Consolidated Cash Interest Charges
for such Test Period.

 

“Consolidated Interest Expense”
means, for any period, without duplication, the sum of:

 

(1)       consolidated interest expense
of the Borrower and its Restricted Subsidiaries for such period, to the extent such expense was deducted (and not added back) in computing
Consolidated Net Income including (a) amortization of original issue discount or premium resulting from the issuance of Indebtedness
at less than par, (b) all commissions, discounts and other fees and charges owed with respect to letters of credit or bankers acceptances,
(c) non-cash interest payments (but excluding any non-cash interest expense attributable to the movement in the mark to market valuation
of any obligations under any Swap Contracts or other derivative instruments pursuant to GAAP), (d) the interest component of Capitalized
Lease Obligations, and (e) net payments, if any, pursuant to interest rate obligations under any Swap Contracts with respect to Indebtedness;
plus

 

(2)       consolidated
capitalized interest of the Borrower and its Restricted Subsidiaries for such period, whether paid or accrued; less

 

(3)       interest
income for such period.

 

For purposes of this definition, interest on a Capitalized Lease Obligation
shall be deemed to accrue at an interest rate reasonably determined by the Borrower to be the rate of interest implicit in such Capitalized
Lease Obligation in accordance with GAAP.

 

“Consolidated Net Debt” means,
as of any date of determination, (a) the aggregate principal amount of Indebtedness of the Borrower and its Restricted Subsidiaries outstanding
on such date, determined on a consolidated basis in accordance with GAAP (but excluding the effects of any discounting of Indebtedness
resulting from the application of purchase accounting in connection with any Permitted Acquisition), consisting of, without duplication,
Indebtedness for borrowed money, obligations in respect of Capitalized Leases and Indebtedness incurred pursuant to ‎Section
7.03(f) minus (b) an amount equal to the excess of (i) (A) all unrestricted cash and Cash Equivalents (determined in accordance with GAAP)
included in the consolidated balance sheet of the Borrower and its domestic Restricted Subsidiaries held in the United States as of such
date plus (B) 100% of all unrestricted cash and Cash Equivalents included in the consolidated balance sheet of the Borrower, to
the extent not held in the United States, and of the Borrower’s foreign Restricted Subsidiaries in an amount up to $50 million plus
60% of any such unrestricted cash and Cash Equivalents in excess of $50 million less (ii) $5,000,000; provided that Consolidated
Net Debt shall not include (x) Letters of Credit, except to the extent of drawn but unreimbursed amounts thereunder and (y) obligations
under Swap Contracts.

 

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“Consolidated Net Income” means,
for any period, the net income (loss) of the Borrower and its Restricted Subsidiaries for such period determined on a consolidated basis
on the basis of GAAP; provided, however, that there will not be included in such Consolidated Net Income:

 

(1)       subject
to the limitations contained in clause (3) below, any net income (loss) of any Person if such Person is not a Restricted Subsidiary, except
that the Borrower’s equity in the net income of any such Person for such period will be included in such Consolidated Net Income
up to the aggregate amount of cash or Cash Equivalents actually distributed by such Person during such period to the Borrower or a Restricted
Subsidiary as a dividend or other distribution or return on investment (subject, in the case of a dividend or other distribution or return
on investment to a Restricted Subsidiary, to the limitations contained in clause (2) below);

 

(2)       [reserved];

 

(3)       any
net gain (or loss) realized upon the sale or other disposition of any asset or disposed operations of the Borrower or any Restricted Subsidiaries
(including pursuant to any sale/leaseback transaction) which is not sold or otherwise disposed of in the ordinary course of business (as
determined in good faith by a Responsible Officer or the board of directors of the Borrower);

 

(4)       any
extraordinary, exceptional, unusual or nonrecurring gain, loss, charge or expense;

 

(5)       the
cumulative effect of a change in accounting principles;

 

(6)       any
(i) non-cash compensation charge or expense arising from any grant of stock, stock options, stock appreciation rights or other equity
based awards and any non-cash deemed finance charges in respect of any pension liabilities or other provisions and (ii) income (loss)
attributable to deferred compensation plans or trusts;

 

(7)       all
deferred financing costs written off and premiums paid or other expenses incurred directly in connection with any early extinguishment
of Indebtedness and any net gain (loss) from any write-off or forgiveness of Indebtedness;

 

(8)       any
unrealized gains or losses in respect of any obligations under any Swap Contracts or any ineffectiveness recognized in earnings related
to qualifying hedge transactions or the fair value of changes therein recognized in earnings for derivatives that do not qualify as hedge
transactions, in each case, in respect of any obligations under any Swap Contracts;

 

(9)       any
unrealized foreign currency translation gains or losses in respect of Indebtedness of any the Borrower or any Restricted Subsidiary denominated
in a currency other than the functional currency of the Borrower or any Restricted Subsidiary and any unrealized foreign exchange gains
or losses relating to translation of assets and liabilities denominated in foreign currencies;

 

(10)       any
unrealized foreign currency translation or transaction gains or losses in respect of Indebtedness or other obligations of the Borrower
or any Restricted Subsidiary owing to the Borrower or any Restricted Subsidiary;

 

(11)       any
purchase accounting effects including, but not limited to, adjustments to inventory, property and equipment, software and other intangible
assets and deferred revenue in component amounts required or permitted by GAAP and related authoritative pronouncements (including the
effects of such adjustments pushed down to the Borrower and the Restricted Subsidiaries), as a result of any consummated acquisition,
or the amortization or write-off of any amounts thereof (including any write-off of in process research and development);

 

    19

     

    

 

(12)       any
goodwill or other intangible asset impairment charge or write-off;

 

(13)       any
after-tax effect of income (loss) from the early extinguishment or cancellation of Indebtedness or any obligations under any Swap Contracts
or other derivative instruments;

 

(14)       accruals
and reserves that are established within twelve months after the Closing Date that are so required to be established as a result of the
Transaction in accordance with GAAP;

 

(15)       fees,
costs and expenses (including audit fees) related to or incurred in connection with the Transactions, this Agreement and the other Loan
Documents;

 

(16)       any
net unrealized gains and losses resulting from Swap Contracts or embedded derivatives that require similar accounting treatment and the
application of Accounting Standards Codification Topic 815 and related pronouncements; and

 

(17)       gains
and losses due solely to fluctuations in currency values and the related tax effects in accordance with GAAP.

 

In addition, to the extent not already excluded
from the Consolidated Net Income of the Borrower and its Restricted Subsidiaries, notwithstanding anything to the contrary in the foregoing,
Consolidated Net Income shall exclude (i) any expenses and charges that are reimbursed by indemnification or other reimbursement provisions
in connection with any investment or any sale, conveyance, transfer or other disposition of assets permitted hereunder and (ii) to the
extent covered by insurance and actually reimbursed, or, so long as the Borrower has made a determination that there exists reasonable
evidence that such amount will in fact be reimbursed by the insurer and only to the extent that such amount is (A) not denied by the applicable
carrier in writing within 180 days and (B) in fact reimbursed within 365 days of the date of such evidence (with a deduction for any amount
so added back to the extent not so reimbursed within such 365 days), expenses with respect to liability or casualty events or business
interruption.

 

“Contractual Obligation” means,
as to any Person, any provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such
Person is a party or by which it or any of its property is bound.

 

“Control” has the meaning specified
in the definition of “Affiliate.”

 

“Converted Restricted Subsidiary”
has the meaning specified in the definition of “Consolidated EBITDA.”

 

“Converted Unrestricted Subsidiary”
has the meaning specified in the definition of “Consolidated EBITDA.”

 

“Credit Extension” means each
of the following: (a) a Borrowing and (b) an L/C Credit Extension.

 

“Debtor Relief Laws” means the
Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors,
moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable
jurisdictions from time to time in effect and affecting the rights of creditors generally.

 

“Declined Proceeds” has the
meaning specified in Section 2.05(b)(v).

 

“Default” means any event or
condition that constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event
of Default.

 

“Default Rate” means an interest
rate equal to (a) the Base Rate plus (b) the Applicable Rate applicable to Base Rate Loans plus (c) 2.0% per annum; provided that
with respect to a Eurodollar Rate Loan or a LIBOR Daily Floating Rate Loan, the Default Rate shall be an interest rate equal to the interest
rate (including any Applicable Rate) otherwise applicable to such Loan plus 2.0% per annum, in each case, to the fullest extent permitted
by applicable Laws.

 

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“Defaulting Lender” means,
subject to ‎Section 2.16(b), any Lender that (a) has failed to
perform any of its funding obligations hereunder, including in respect of its Loans or participations in respect of Letters of
Credit within three Business Days of the date required to be funded by it hereunder (unless such failure relates to such
Lender’s obligation to fund a Loan timely hereunder and is based on such Lender’s determination that a condition
precedent to funding (which condition precedent, together with the applicable default, if any, shall be specifically identified in
writing by such Lender) cannot be satisfied), (b) has notified the Borrower, or the Administrative Agent or any Lender that it does
not intend to comply with its funding obligations or has made a public statement to that effect with respect to its funding
obligations hereunder or under other agreements in which it commits to extend credit (unless such writing or public statement
relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s
determination that a condition precedent to funding (which condition precedent, together with the applicable default, if any, shall
be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three Business Days
after request by the Administrative Agent, to confirm in a manner satisfactory to the Administrative Agent that it will comply with
its funding obligations (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of
such written confirmation by the Administrative Agent and the Borrower), or (d) has, or has a direct or indirect parent company that
has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii) had a receiver, conservator, trustee, administrator,
assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or a custodian
appointed for it, (iii) taken any action in furtherance of, or indicated its consent to, approval of or acquiescence in any such
proceeding or appointment or (iv) 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.

 

“De Minimis Foreign Subsidiary”
means, at any date of determination, any Foreign Subsidiary the Equity Interests of which would otherwise be required to be pledged pursuant
to the Collateral and Guarantee Requirement and which does not have either (a) net sales that are, when combined with all other De Minimis
Foreign Subsidiaries, greater than five percent (5.0%) of the net sales of the Borrower and its Restricted Subsidiaries as of the most
recent fiscal quarter end for which the Borrower has delivered financial statements pursuant to Section ‎6.01(a)
or ‎(b) or (b) assets with a book value that, when combined with
all other De Minimis Foreign Subsidiaries, greater than five percent (5.0%) of the book value of Total Assets as of the most recent fiscal
quarter end for which the Borrower has delivered financial statements pursuant to Section ‎6.01(a)
or ‎(b).

 

“Designated Jurisdiction” means
any country or territory to the extent that such country or territory itself is the subject of a comprehensive embargo under Sanctions
(as of the date of this Agreement, the Crimea region of Ukraine, Cuba, Iran, Syria and North Korea).

 

“Designated Non-Cash Consideration”
means the fair market value of non-cash consideration received by the Borrower or a Restricted Subsidiary in connection with a Disposition
pursuant to ‎Section 7.05(m) that is designated as Designated Non-Cash
Consideration pursuant to a certificate of a Responsible Officer of the Borrower, setting forth the basis of such valuation (which amount
will be reduced by the fair market value of the portion of the non-cash consideration converted to cash within 180 days following the
consummation of the applicable Disposition).

 

“Discount Range” has the meaning
specified in ‎Section 2.05(d)(ii).

 

“Discounted Prepayment Option Notice”
has the meaning specified in ‎Section 2.05(d)(ii).

 

“Discounted Voluntary Prepayment”
has the meaning specified in ‎Section 2.05(d)(i).

 

“Discounted Voluntary Prepayment Notice”
has the meaning specified in ‎Section 2.05(d)(v).

 

“Disposed EBITDA” means, with
respect to any Sold Entity or Business or any Converted Unrestricted Subsidiary for any period, the amount for such period of Consolidated
EBITDA of such Sold Entity or Business or such Converted Unrestricted Subsidiary, all as determined on a consolidated basis for such Sold
Entity or Business or such Converted Unrestricted Subsidiary.

 

“Disposition” or “Dispose”
means the sale, transfer, license, lease or other disposition (including any Sale Leaseback and any issuance or sale of Equity Interests
of a Restricted Subsidiary) of any property by any Person, including any sale, assignment, transfer or other disposal, with or without
recourse, of any notes or accounts receivable or any rights and claims associated therewith; provided that “Disposition”
and “Dispose” shall not be deemed to include any issuance by the Borrower of any of its Equity Interests to another
Person.

 

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“Disqualified Equity Interests”
means any Equity Interest which, by its terms (or by the terms of any security or other Equity Interests into which it is convertible
or for which it is exchangeable), or upon the happening of any event or condition (a) matures or is mandatorily redeemable (other than
solely for Qualified 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 subject
to the prior repayment in full of the Loans and all other Obligations under the Loan Documents that are accrued and payable and the termination
of the Commitments and all outstanding Letters of Credit), (b) is redeemable at the option of the holder thereof (other than solely for
Qualified Equity Interests), in whole or in part, (c) provides for the scheduled payments of dividends in cash, or (d) is or becomes 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 ninety-one (91) days after the Maturity Date of the Term Loans.

 

“Disqualified Lenders” means
(i) competitors and any of their Affiliates of the Borrower and its Subsidiaries in each case that have been specified in writing to the
Administrative Agent from time to time and (ii) any Affiliates of the foregoing that are clearly identifiable on the basis of such Affiliates’
name.

 

“Dollar” and “$”
mean lawful money of the United States.

 

“Dollar Equivalent” means, at
any time, (a) with respect to any amount denominated in Dollars, such amount, and (b) with respect to any amount denominated in any Alternative
Currency, the equivalent amount thereof in Dollars as determined by the Administrative Agent or an L/C Issuer, as the case may be, at
such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of Dollars with such
Alternative Currency.

 

“Domestic Subsidiary” means
any Subsidiary (other than a Domestic Subsidiary Holding Company) that is organized under the laws of the United States, any state thereof
or the District of Columbia.

 

“Domestic Subsidiary Holding Company”
means any Subsidiary that is organized under the laws of the United States, any state thereof or the District of Columbia and that has
no material assets other than equity interests (including any debt instrument, option, warrant or other instrument treated as equity for
U.S. federal income tax purposes) in one or more Foreign Subsidiaries that are CFCs.

 

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

 

“EEA Member Country” means any
of the member states of the European Union, Iceland, 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 any EEA Financial Institution.

 

“Eligible Assignee” means any
Assignee permitted by and consented to in accordance with ‎Section
10.07(b). For the avoidance of doubt, any Disqualified Lender is subject to Section 10.07(k).

 

“EMU Legislation” means the
legislative measures of the European Council for the introduction of, changeover to or operation of a single or unified European currency.

 

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“Environment” means ambient
air, indoor air, surface water, groundwater, drinking water, soil, surface and subsurface strata, and natural resources such as wetlands,
flora and fauna.

 

“Environmental Laws” means any
and all applicable Laws relating to pollution, the protection of the environment, natural resources or to the generation, transport, storage,
use, disposal, treatment, Release or threat of Release of any Hazardous Materials or, to the extent relating to exposure to Hazardous
Materials, human health.

 

“Environmental Liability” means
any liability, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities)
directly or indirectly resulting from or based upon (a) any Environmental Law, (b) the generation, use, handling, transportation, storage,
disposal or treatment of any Hazardous Materials, (c) exposure of any Person to any Hazardous Materials, (d) the Release or threatened
Release of any Hazardous Materials or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed
or imposed with respect to any of the foregoing.

 

“Equity Interests” means, with
respect to any Person, all of the shares, interests, rights, participations or other equivalents (however designated) of capital stock
of (or other ownership or profit interests or units in) such Person and all of the warrants, options or other rights for the purchase,
acquisition or exchange from such Person of any of the foregoing (including through convertible securities).

 

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

 

“ERISA Affiliate” means any
trade or business (whether or not incorporated) that is under common control with any Loan Party and is treated as a single employer within
the meaning of Section 414 of the Code or Section 4001 of ERISA.

 

“ERISA Event” means (a) a Reportable
Event with respect to a Pension Plan; (b) a withdrawal by any Loan Party or any ERISA 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 that is treated as such a withdrawal under Section 4062(e) of ERISA; (c) a failure to satisfy the minimum funding standard
under Section 412 of the Code or Section 302 of ERISA with respect to a Pension Plan, whether or not waived, or a failure to make any
required contribution to a Multiemployer Plan; (d) a complete or partial withdrawal by any Loan Party or any ERISA Affiliate from a Multiemployer
Plan, notification of any Loan Party or ERISA Affiliate concerning the imposition of withdrawal liability or notification that a Multiemployer
Plan is insolvent or is in reorganization within the meaning of Title IV of ERISA or that is in endangered or critical status, within
the meaning of Section 305 of ERISA; (e) the filing of a notice of intent to terminate, the treatment of a Plan amendment as a termination
under Section 4041 or 4041A of ERISA, or the commencement of proceedings by the PBGC to terminate a Pension Plan or Multiemployer Plan;
(f) 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; (g) the imposition of any liability under Title IV of ERISA, other than for PBGC
premiums due but not delinquent under Section 4007 of ERISA, upon any Loan Party or any ERISA Affiliate; (h) a determination that any
Pension Plan is, or is expected to be, in “at-risk” status (within the meaning of Section 303(i)(4)(A) of ERISA or
Section 430(i)(4)(A) of the Code); or (i) the occurrence of a non-exempt prohibited transaction with respect to any Pension Plan maintained
or contributed to by any Loan Party (within the meaning of Section 4975 of the Code or Section 406 of ERISA) which could result in liability
to any Loan Party.

 

"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.

 

“Euro”, “EUR”
and “€” mean lawful money of the Participating Member States introduced in accordance with EMU Legislation.

 

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“Eurodollar Rate”
means:

 

(a)       for
any Interest Period with respect to a Eurodollar Rate Loan, the rate per annum equal to the London Interbank Offered Rate as administered
by ICE Benchmark Administration (or any other Person that takes over the administration of such rate for U.S. Dollars for a period equal
in length to such Interest Period) (“LIBOR”) as published on the applicable Bloomberg screen page (or such other commercially
available source providing such quotations as may be designated by the Administrative Agent from time to time) at approximately 11:00
a.m., London time, two Business Days prior to the commencement of such Interest Period, for Dollar deposits (for delivery on the first
day of such Interest Period) with a term equivalent to such Interest Period;

 

(b)       for
any interest calculation with respect to a Base Rate Loan on any date, the rate per annum equal to LIBOR, at or about 11:00 a.m., London
time determined two London Banking Days prior to such date for U.S. Dollar deposits with a term of one month commencing that day; and

 

(c)        if the Eurodollar Rate
shall be less than zero, such rate shall be deemed zero for purposes of this Agreement.

 

“Eurodollar Rate Loan” means
a Loan that bears interest at a rate based on the Eurodollar Rate.

 

“Event of Default” has the meaning
specified in ‎Section 8.01.

 

“Exchange Act” means the Securities
Exchange Act of 1934.

 

“Excluded Subsidiary” means
(a) any Subsidiary that is prohibited by applicable Law or by any Contractual Obligation existing on the Closing Date (or, with respect
to Subsidiaries acquired after the Closing Date, as of the date of such acquisition; provided that such Contractual Obligation
was not entered into in connection with or anticipation of such acquisition) from guaranteeing the Facilities or which would require (including
regulatory) consent, approval, license or authorization from any Governmental Authority to provide a Guaranty unless such consent, approval,
license or authorization has been received, (b) any Foreign Subsidiary, (c) any Domestic Subsidiary that is a Subsidiary of a Foreign
Subsidiary that is a CFC, (d) any Subsidiary that does not qualify as an Excluded Subsidiary under any other clause of this definition
solely because of its ownership of assets relating to (i) the Borrower’s ongoing development project relating to a veterinary preparation
for African Swine Fever and (ii) the Borrower’s ongoing and future collaborative arrangements relating to the manufacture, sale
and/or distribution of veterinary preparations primarily related to China and Hong Kong, (e) any Immaterial Subsidiary, (f) any not-for-profit
Subsidiary, (g) any captive insurance Subsidiary, (h) any Unrestricted Subsidiary, (i) any Domestic Subsidiary Holding Company and (j)
any other Subsidiary with respect to which, in the reasonable judgment of the Administrative Agent (confirmed in writing by notice to
the Borrower), the cost or other consequences (including any adverse tax consequences) of providing a Guaranty shall be excessive in view
of the benefits to be obtained by the Lenders therefrom.

 

“Excluded Swap Obligation”
means, with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a portion of the Guaranty of such
Guarantor of, or the grant by such Guarantor of a security interest pursuant to the Collateral Documents to secure, such Swap
Obligation (or any Guaranty thereof) is or becomes illegal or unlawful under or otherwise violates the Commodity Exchange Act or any
rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof)
by virtue of such Guarantor’s failure 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 Guarantor, or the grant by
such Guarantor of a security interest, would otherwise have become effective with respect to such Swap Obligation but for such
Guarantor’s failure to constitute an “eligible contract participant” at such time. 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 or unlawful under the Commodity
Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official
interpretation of any thereof).

 

    24

     

    

 

“Excluded Taxes” means, (a)
with respect to each Agent and each Lender, taxes (including any additions to tax, penalties and interest) imposed on its overall net
income or net profits (including any franchise taxes imposed in lieu thereof) by any jurisdiction as a result of such Agent or such Lender,
as the case may be, being resident or being deemed to be resident, being organized, maintaining an Applicable Lending Office, or carrying
on business or being deemed to carry on business in such jurisdiction (other than any business or deemed business arising solely from
any Loan Documents or any transactions contemplated thereby), (b) any U.S. federal withholding tax that is imposed on amounts payable
to a Lender under the law in effect at the time such Lender becomes a party to this Agreement; provided that this clause (b) shall
not apply to the extent that (x) the indemnity payments or additional amounts any Lender would be entitled to receive (without regard
to this clause (b)) do not exceed the indemnity payment or additional amounts that the Lender’s assignor (if any) was entitled to
receive immediately prior to such assignment or (y) such Tax is imposed on a Lender in connection with an interest or participation in
any Loan or other obligations that such Lender acquired pursuant to ‎Section
3.07, (c) any withholding tax resulting from a failure of a Lender to comply with ‎Section
3.01(f) or a failure of the Agent to comply with ‎Section 3.01(g),
and (d) FATCA.

 

“Existing Credit Agreement”
has the meaning set forth in the preliminary statements hereto

 

“Existing Indebtedness” means
Indebtedness for borrowed money of each of the Companies, the Borrower and their respective Restricted Subsidiaries outstanding immediately
prior to the Closing Date.

 

“Existing Letters of Credit”
has the meaning specified in ‎Section 2.03(a).

 

“Extended Revolving Credit Commitment”
has the meaning specified in ‎Section 2.15(a).

 

“Extended Term Loans” has the
meaning specified in ‎Section 2.15(a).

 

“Extending Revolving Credit Lender”
has the meaning specified in ‎Section 2.15(a).

 

“Extending Term Lender” has
the meaning specified in ‎Section 2.15(a).

 

“Extension” has the meaning
specified in ‎Section 2.15(a).

 

“Extension Offer” has the meaning
specified in ‎Section 2.15(a).

 

“Facility” means the Term Loans
or the Revolving Credit Facility, as the context may require.

 

“FATCA” means Sections 1471
through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not
materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreements entered
into pursuant to Section 1471(b)(1) of the Code.

 

“Federal Funds Rate” means,
for any day, the rate per annum equal to the weighted average of the rates on overnight Federal funds transactions with members of the
Federal Reserve System, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided
that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding
Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so published on such next succeeding Business
Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%)
charged to Bank of America on such day on such transactions as determined by the Administrative Agent.

 

    25

     

    

 

“Financial Covenants” means
the covenants set forth in ‎Section 7.10.

 

“First Lien Net Leverage Ratio”
means, with respect to any Test Period, the ratio of (a) the Consolidated First Lien Net Debt as of the last day of such Test Period to
(b) Consolidated EBITDA of the Borrower for such Test Period.

 

“Fixed Amounts” has the meaning
specified in Section 1.10(c).

 

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

 

“Foreign Casualty Event” has
the meaning specified in ‎Section 2.05(b)(vi).

 

“Foreign Disposition” has the
meaning specified in ‎Section 2.05(b)(vi).

 

“Foreign Plan” means any employee
benefit plan, program, policy, arrangement or agreement maintained or contributed to or by, or entered into with, any Loan Party or any
Subsidiary with respect to employees outside the United States.

 

“Foreign Subsidiary” means any
direct or indirect Restricted Subsidiary of the Borrower which is not a Domestic Subsidiary.

 

“FRB” means the Board of Governors
of the Federal Reserve System of the United States.

 

“Fronting Exposure” means,
at any time there is a Defaulting Lender, such Defaulting Lender’s Pro Rata Share of the outstanding L/C Obligations owing to
such L/C Issuer other than L/C Obligations as to which such Defaulting Lender’s participation obligation has been reallocated
to other Lenders or Cash Collateralized in accordance with the terms hereof.

 

“Fronting Fee” has the meaning
specified in ‎Section 2.03(h).

 

“Fund” means any Person (other
than a natural person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar
extensions of credit in the ordinary course of its activities.

 

“GAAP” means generally accepted
accounting principles in the United States, as in effect from time to time; provided that (A) if the Borrower notifies the Administrative
Agent that the Borrower requests an amendment to any provision hereof to eliminate the effect of any change occurring after the Closing
Date in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the 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 change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect
and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended
in accordance herewith, (B) at any time after the Closing Date, the Borrower may elect, upon notice to the Administrative Agent, to apply
IFRS accounting principles in lieu of GAAP and, upon any such election, references herein to GAAP shall thereafter be construed to mean
IFRS (except as otherwise provided herein), including as to the ability of the Borrower to make an election pursuant to clause (A) of
this proviso, (C) any election made pursuant to clause (B) of this proviso, once made, shall be irrevocable, (D) any calculation or determination
in this Agreement that requires the application of GAAP for periods that include fiscal quarters ended prior to the Borrower’s election
to apply IFRS shall remain as previously calculated or determined in accordance with GAAP and (E) the Borrower may only make an election
pursuant to clause (B) of this proviso if it also elects to report any subsequent financial reports required to be made by the Borrower,
including pursuant to Sections ‎6.01(a) and ‎(b),
in IFRS.

 

    26

     

    

 

“Governmental Authority” means
any nation or government, any state, provincial, territorial or other political subdivision thereof, any agency, authority, instrumentality,
regulatory body, court, administrative tribunal, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory
or administrative powers or functions of or pertaining to government.

 

“Granting Lender” has the meaning
specified in ‎Section 10.07(h).

 

“Guarantee Obligations”
means, as to any Person, without duplication, (a) any obligation, contingent or otherwise, of such Person guaranteeing or having the
economic effect of guaranteeing any Indebtedness or other monetary obligation payable or performable by another Person (the
 “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person,
direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other
monetary obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in respect
of such Indebtedness or other monetary obligation of the payment or performance of such Indebtedness or other monetary obligation,
(iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash
flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other monetary obligation, or (iv)
entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or other monetary
obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part),
or (b) any Lien on any assets of such Person securing any Indebtedness or other monetary obligation of any other Person, whether or
not such Indebtedness or other monetary obligation is assumed by such Person (or any right, contingent or otherwise, of any holder
of such Indebtedness to obtain any such Lien); provided that the term “Guarantee Obligations” shall not
include endorsements for collection or deposit, in either case in the ordinary course of business, or customary and reasonable
indemnity obligations in effect on the Closing Date or entered into in connection with any acquisition or disposition of assets
permitted under this Agreement (other than such obligations with respect to Indebtedness). The amount of any Guarantee Obligation
shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in
respect of which such Guarantee Obligation is made or, if not stated or determinable, the maximum reasonably anticipated liability
in respect thereof as determined by the guaranteeing Person in good faith; provided, further that “Guarantee
Obligations” shall exclude any Excluded Swap Obligations.

 

“Guaranties” has the meaning
specified in the definition of “Collateral and Guarantee Requirement.”

 

“Guarantors” has the meaning
specified in the definition of “Collateral and Guarantee Requirement.” For the avoidance of doubt, the Borrower in
its sole discretion may cause any Restricted Subsidiary that is not a Guarantor to Guarantee the Obligations by causing such Restricted
Subsidiary to execute and deliver to the Administrative Agent a Guaranty Supplement (as defined in the Guaranty), and any such Restricted
Subsidiary shall thereafter be a Guarantor, Loan Party and Subsidiary Guarantor hereunder for all purposes.

 

“Guaranty” means, collectively,
(a) the Guaranty substantially in the form of Exhibit F and (b) each other guaranty and guaranty supplement delivered pursuant to ‎Section
6.11.

 

“Hazardous Materials” means
all explosive or radioactive substances or wastes, and all other chemicals, pollutants, contaminants, substances or wastes of any nature
regulated pursuant to any applicable Environmental Law, including petroleum or petroleum distillates, asbestos or asbestos-containing
materials, polychlorinated biphenyls, radon gas and toxic mold.

 

“Hedge Bank” means any Person
that is a Lender, an Agent, a Lead Arranger or an Affiliate of any of the foregoing at the time it enters into a Secured Hedge Agreement
or is a Lender, an Agent, a Lead Arranger or an Affiliate of any of the foregoing on the Restatement Effective Date and on the Restatement
Effective Date is also party to a Swap Contract with a Loan Party or any Restricted Subsidiary permitted under ‎Section
7.03(g), in each case in its capacity as a party thereto.

 

“HMT” has the meaning specified
in ‎Section 5.19(b).

 

“Honor Date” has the meaning
specified in ‎Section 2.03(c)(i).

 

    27

     

    

 

“Immaterial Subsidiary” means,
at any date of determination, each Subsidiary of the Borrower that has been designated by the Borrower in writing to the Administrative
Agent as an “Immaterial Subsidiary” for purposes of this Agreement (and not redesignated as a Material Subsidiary as
provided below); provided that (a) for purposes of this Agreement, at no time shall (i) the total assets of all Immaterial Subsidiaries
(other than Foreign Subsidiaries and Unrestricted Subsidiaries) in the aggregate at the last day of the most recent Test Period equal
or exceed 5% of the Total Assets of the Borrower and its Subsidiaries at such date or (ii) the Consolidated EBITDA for such Test Period
of all Immaterial Subsidiaries (other than Foreign Subsidiaries and Unrestricted Subsidiaries) in the aggregate equal or exceed 5% of
the Consolidated EBITDA of the Borrower and its Subsidiaries for such period, in each case determined in accordance with GAAP, (b) the
Borrower shall not designate any new Immaterial Subsidiary if such designation would not comply with the provisions set forth in clause
(a) above, and (c) if the total assets or Consolidated EBITDA of all Subsidiaries so designated by the Borrower as “Immaterial
Subsidiaries” (and not redesignated as “Material Subsidiaries”) shall at any time exceed the limits set forth
in clause (a) above, then all such Subsidiaries shall be deemed to be Material Subsidiaries unless and until the Borrower shall redesignate
one or more Immaterial Subsidiaries as Material Subsidiaries, in each case in a written notice to the Administrative Agent, and, as a
result thereof, the total assets and Consolidated EBITDA of all Subsidiaries still designated as “Immaterial Subsidiaries”
in the aggregate do not exceed such limits; and provided further that the Borrower may designate and re-designate a Subsidiary
as an Immaterial Subsidiary at any time, subject to the terms set forth in this definition. Each Immaterial Subsidiary of the Borrower
as of the Restatement Effective Date is set forth on Schedule 1.01B hereto.

 

“IFRS” means International Financial
Reporting Standards as adopted in the European Union.

 

“Impacted Loans” has the meaning
specified in ‎Section 3.03.

 

“Incremental Facilities” has
the meaning specified in ‎Section 2.14(a).

 

“Incremental Facilities Cap”
has the meaning specified in ‎Section 2.14(a).

 

“Incremental Facility Amendment”
has the meaning specified in ‎Section 2.14(c).

 

“Incremental Facility Closing Date”
has the meaning specified in ‎Section 2.14(c).

 

“Incremental Revolving Commitments”
has the meaning specified in ‎Section 2.14(a).

 

“Incremental Revolving Lender”
has the meaning specified in ‎Section 2.14(c).

 

“Incremental Term Loan Increases”
has the meaning specified in ‎Section 2.14(a).

 

“Incremental Term Loans” has
the meaning specified in ‎Section 2.14(a).

 

“Incurrence Based Amounts” has
the meaning specified in Section 1.10(c).

 

    28

     

    

 

“Indebtedness” means, as to
any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness or liabilities in
accordance with GAAP:

 

(a)       all
obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements
or other similar instruments;

 

(b)       the
maximum amount (after giving effect to any prior drawings or reductions which may have been reimbursed) of all letters of credit (including
standby and commercial), banker’s acceptances, bank guaranties, surety bonds, performance bonds and similar instruments issued or
created by or for the account of such Person;

 

(c)       net
obligations of such Person under any Swap Contract;

 

(d)       all
obligations of such Person to pay the deferred purchase price of property or services (other than (i) trade accounts payable in the ordinary
course of business and (ii) any earn-out obligation until such obligation becomes a liability on the balance sheet of such Person in accordance
with GAAP and if not paid after becoming due and payable);

 

(e)       indebtedness
(excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person (including indebtedness arising
under conditional sales or other title retention agreements and mortgage, industrial revenue bond, industrial development bond and similar
financings), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse;

 

(f)       all
Attributable Indebtedness;

 

(g)       all
obligations of such Person in respect of any Disqualified Equity Interests; and

 

(h)       all
Guarantee Obligations of such Person in respect of any of the foregoing.

 

For all purposes hereof, the Indebtedness of any Person shall (A) include
the Indebtedness of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company
or similar organization under the laws of the jurisdiction of such joint venture) in which such Person is a general partner or a joint
venturer, except to the extent such Person’s liability for such Indebtedness is otherwise limited and only to the extent such Indebtedness
would be included in the calculation of Consolidated Net Debt (without giving effect to clause (b) thereof) and (B) in the case of the
Borrower and its Restricted Subsidiaries, exclude all intercompany Indebtedness having a term not exceeding 364 days (inclusive of any
roll-over or extensions of terms) and made in the ordinary course of business. The amount of any net obligation under any Swap Contract
on any date shall be deemed to be the Swap Termination Value thereof as of such date. The amount of Indebtedness of any Person for purposes
of clause (e) shall be deemed to be equal to the lesser of (i) the aggregate unpaid amount of such Indebtedness and (ii) the fair market
value of the property encumbered thereby as determined by such Person in good faith.

 

    29

     

    

 

“Indemnified Liabilities” has
the meaning specified in ‎Section 10.05.

 

“Indemnified Taxes” means all
Taxes other than Excluded Taxes.

 

“Indemnitees” has the meaning
specified in ‎Section 10.05.

 

“Information” has the meaning
specified in ‎Section 10.08.

 

“Initial Lenders” means each
of Bank of America and Rabobank.

 

“Initial Revolving Borrowing”
means one or more borrowings of Revolving Credit Loans or issuances or deemed issuances of Letters of Credit on the Closing Date as specified
in Section ‎2.01(b) and Section ‎2.03(a)(i).

 

    30

     

    

 

 

“Interest Payment Date” means
(a) as to any Loan other than a Base Rate Loan, the last day of each Interest Period applicable to such Loan and the Maturity Date of
the Facility under which such Loan was made; provided that if any Interest Period for a Eurodollar Rate Loan exceeds three months,
the respective dates that fall every three months after the beginning of such Interest Period shall also be Interest Payment Dates; (b)
as to any Base Rate Loan, the last Business Day of each March, June, September and December and the Maturity Date of the Facility under
which such Loan was made and (c) as to any LIBOR Daily Floating Rate Loan, the last Business Day of each month.

 

“Interest Period” means, as
to each Eurodollar Rate Loan, the period commencing on the date such Eurodollar Rate Loan is disbursed or converted to or continued as
a Eurodollar Rate Loan and ending on the date one, three or six months (or twelve months or any shorter amount of time if consented to
by all the Appropriate Lenders) thereafter, as selected by the Borrower in its Committed Loan Notice, or such other period that is twelve
months or less requested by the Borrower and consented to by all the Appropriate Lenders; provided that:

 

(i)       any
Interest Period that would otherwise end on a day that is not a Business Day shall be extended to the next succeeding Business Day unless
such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Business Day;

 

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

 

(iii)       no
Interest Period shall extend beyond the Maturity Date of the Facility under which such Loan was made.

 

“Investment” means, as to
any Person, any direct or indirect acquisition or investment by such Person, whether by means of (a) the purchase or other
acquisition of Equity Interests or debt or other securities of another Person, (b) a loan, advance or capital contribution to,
Guarantee Obligation with respect to any Obligation of, or purchase or other acquisition of any other debt or equity participation
or interest in, another Person, including any partnership or joint venture interest in such other Person (excluding, in the case of
the Borrower and its Restricted Subsidiaries, intercompany loans, advances, or Indebtedness having a term not exceeding 364 days
(inclusive of any roll-over or extensions of terms) and made in the ordinary course of business) or (c) the purchase or other
acquisition (in one transaction or a series of transactions) of all or substantially all of the property and assets or business of
another Person or assets constituting a business unit, line of business or division of such Person. For purposes of covenant
compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or
decreases in the value of such Investment.

 

For purposes of clarification, any transfer pricing
arrangements among the Borrower and its Subsidiaries for the provision and extension of customary services by Foreign Subsidiaries in
the normal course of business of the Borrower and its Domestic Subsidiaries, consistent with the past practices of the Borrower and its
Domestic Subsidiaries, and any payments by the Borrower and its Domestic Subsidiaries to Foreign Subsidiaries thereunder shall not be
deemed an Investment by the Borrower or its Domestic Subsidiaries in such Foreign Subsidiaries.

 

    31

     

    

 

“ISDA Definitions” means 2006
ISDA Definitions (or successor definitional booklet for interest rate derivatives) published by the International Swaps and Derivatives
Association, Inc. or any successor thereto, as amended or supplemented from time to time.

 

“Issuer Documents” means with
respect to any Letter of Credit, the Letter of Credit Application, and any other document, agreement and instrument entered into by the
L/C Issuer and the Borrower (or any Subsidiary) or in favor of the L/C Issuer and relating to such Letter of Credit.

 

“Investment Grade Rating” means
a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, or an equivalent rating
by Fitch, Inc.

 

“IP Rights” has the meaning
specified in ‎Section 5.14.

 

“JV Entity” means (a) any joint
venture and (b) any non-Wholly-Owned Subsidiary of the Borrower.

 

“Judgment Currency” has the
meaning specified in ‎Section 10.17.

 

“Junior Debt” means Indebtedness
incurred by a Loan Party that is (a) Subordinated Debt or (b) unsecured Indebtedness incurred under Sections 7.03‎(r),
‎(t), ‎(w)(ii)
and ‎(x).

 

“Junior Debt Documents” means
any agreement, indenture and instrument pursuant to which any Junior Debt is issued, in each case as amended to the extent permitted under
the Loan Documents.

 

“Latest Maturity Date” means,
at any date of determination, the latest Maturity Date applicable to any Loan or Commitment hereunder at such time, including the latest
maturity date of any Extended Revolving Credit Commitment, Extended Term Loan or Incremental Term Loan, in each case as extended in accordance
with this Agreement from time to time.

 

“Laws” means, collectively,
all international, foreign, federal, state, provincial and local laws (including common laws), statutes, treaties, rules, guidelines,
regulations, ordinances, codes, orders and administrative or judicial precedents or authorities, including the interpretation or administration
thereof by any Governmental Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative
orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority.

 

“L/C Advance” means, with respect
to each Revolving Credit Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Pro Rata
Share.

 

“L/C Borrowing” means an extension
of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the applicable Honor Date or refinanced
as a Revolving Credit Borrowing.

 

    32

     

    

 

“L/C Credit Extension” means,
with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the renewal or increase of the
amount thereof.

 

“L/C Issuer” means (i) Bank
of America or any of its Subsidiaries or Affiliates selected by Bank of America, and (ii) any other Lender (or any of its Subsidiaries
or Affiliates) that becomes an L/C Issuer in accordance with Section ‎2.03(j)
or Section ‎10.07(j); in the case of each of clause (i) or (ii)
above, in its capacity as an issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder.

 

“L/C Obligation” means, as at
any date of determination, the aggregate maximum amount then available to be drawn under all outstanding Letters of Credit plus the aggregate
of all Unreimbursed Amounts in respect of Letters of Credit, including all L/C Borrowings. For purposes of computing the amount available
to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with ‎Section
1.09.

 

“Lead Arrangers” means BofA
Securities, Inc. and Rabobank in their capacity as Joint Lead Arrangers and Joint Bookrunners (or any other registered broker-dealer wholly-owned
by Bank of America to which all or substantially all of Bank of America’s or any of its subsidiaries’ investment banking,
commercial lending services or related businesses may be transferred following the date of this Agreement).

 

“Lender” has the meaning specified
in the introductory paragraph to this Agreement and, as the context requires, includes an L/C Issuer, and their respective successors
and assigns as permitted hereunder, each of which is referred to herein as a “Lender.”

 

“Lender Participation Notice”
has the meaning specified in ‎Section 2.05(d)(iii).

 

“Letter of Credit” means any
standby letter of credit issued hereunder. Letters of Credit may be issued in Dollars.

 

“Letter of Credit Application”
means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the relevant
L/C Issuer.

 

“Letter of Credit Expiration Date”
means the day that is five (5) Business Days prior to the scheduled Maturity Date then in effect for the Revolving Credit Facility (or,
if such day is not a Business Day, the next preceding Business Day).

 

“Letter of Credit Fee” has the
meaning specified in ‎Section 2.03(g).

 

“Letter of Credit Sublimit”
means an amount equal to $35,000,000. The Letter of Credit Sublimit is part of, and not in addition to, the Revolving Credit Facility.

 

“LIBOR Daily Floating Rate”
means the fluctuating rate of interest, which can change on each Business Day, equal to LIBOR, or a comparable or successor rate which
rate is approved by the Administrative Agent, as published on the applicable Bloomberg screen page (or such other commercially available
source providing such quotations as may be designated by the Administrative Agent from time to time) at or about 11:00 a.m., London time,
two (2) Business Days prior to the date in question, for Dollar deposits with a term equivalent to a one (1) month term beginning on that
date (in such case, the “LIBOR Rate”); provided that:  (x) to the extent a comparable or successor rate
is approved by the Administrative Agent in connection herewith, the approved rate shall be applied in a manner consistent with market
practice; provided, further that to the extent such market practice is not administratively feasible for the Administrative
Agent, such approved rate shall be applied in a manner as otherwise reasonably determined by the Administrative Agent and (y) if the LIBOR
Daily Floating Rate shall be less than zero (0), such rate shall be deemed zero (0) for purposes of this Agreement.

 

    33

     

    

 

“LIBOR Daily Floating Rate Loan”
means a Revolving Credit Loan that bears interest on the LIBOR Daily Floating Rate.

 

“LIBOR Replacement
Date” has the meaning specified in Section 3.03(b).

 

“LIBOR Screen Rate”
means the LIBOR quote on the applicable screen page that Agent designates to determine LIBOR (or such other commercially available source
providing such quotations as designated by Agent from time to time).

 

“LIBOR Successor
Rate” has the meaning specified in Section 3.03(b).

 

“LIBOR Successor
Rate Conforming Changes” with respect to any proposed LIBOR Successor Rate, any conforming changes to the definition of
Base Rate, Interest Period, timing and frequency of determining rates and making payments of interest and other technical,
administrative or operational matters (including, for the avoidance of doubt, the definition of Business Day, timing of borrowing
requests or prepayment, conversion or continuation notices, and length of look-back periods) as may be appropriate, in
Administrative Agent's discretion, to reflect the adoption and implementation of such LIBOR Successor Rate and to permit the
administration thereof by Administrative Agent in a manner substantially consistent with market practice (or, if Administrative
Agent determines that adoption of any portion of such market practice is not administratively feasible or that no market practice
for the administration of such LIBOR Successor Rate exists, in such other manner of administration as Administrative Agent
determines is reasonably necessary in connection with the administration of this Agreement and any other Loan Document).

 

“Lien” means any mortgage, pledge,
hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, deemed trust, or preference, priority
or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including
any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to real property, and
any Capitalized Lease having substantially the same economic effect as any of the foregoing).

 

“Limited Condition Acquisition”
means any acquisition by the Borrower or one or more of its Restricted Subsidiaries permitted under this Agreement whose consummation
is not conditioned under the applicable acquisition agreement on the availability of, or on obtaining, third party financing.

 

    34

     

    

 

“Loan” means an extension of
credit by a Lender to the Borrower under ‎Article 2 in the form
of a Term Loan or a Revolving Credit Loan (including any Incremental Term Loans, any Extended Term Loans, Loans made pursuant to any Incremental
Revolving Commitment).

 

“Loan Documents” means, collectively,
this Agreement, the Notes, the Collateral Documents, the Agent Fee Letter, and each Letter of Credit Application, in each case as amended
from time to time (it being understood that no Secured Hedge Agreement shall be a Loan Document).

 

“Loan Parties” means, collectively,
the Borrower and each Guarantor.

 

“London Banking Day” is a day
on which banks in London are open for business and dealing in offshore dollars.

 

“Master Agreement” has the meaning
specified in the definition of “Swap Contract.”

 

“Material Adverse Effect” means
(a) a material adverse effect on the business, operations, assets, liabilities (actual or contingent) or financial condition of the Borrower
and its Restricted Subsidiaries, taken as a whole, (b) a material adverse effect on the ability of the Loan Parties (taken as a whole)
to perform their respective payment obligations under any Loan Document to which any of the Loan Parties is a party or (c) a material
adverse effect on the rights and remedies of the Lenders or the Agents under any Loan Document.

 

“Material Intellectual
Property” means any intellectual property that is material to the operation of the business of the Borrower and its Restricted
Subsidiaries, taken as a whole.

 

“Material Real Property” means
(i) any real property with a fair market value in excess of $15,000,000 and (ii) any Mortgaged Property under the Existing Credit Agreement
as of the Restatement Effective Date.

 

“Material Subsidiary”
means, at any date of determination, each Restricted Subsidiary of the Borrower that is not an Immaterial Subsidiary (but including,
in any case, any Restricted Subsidiary that has been designated as a Material Subsidiary as provided in, or has been designated as
an Immaterial Subsidiary in a manner that does not comply with, the definition of “Immaterial Subsidiary”).

 

“Maturity Date” means (a) with
respect to the Revolving Credit Facility, the fifth anniversary of the Restatement Effective Date (and, with respect to Extended Revolving
Credit Commitments, the maturity date applicable to such Extended Revolving Credit Commitments in accordance with the terms hereof), and
(b) with respect to Term A Loans, the fifth anniversary of the Restatement Effective Date or with respect to any (i) Extended Term Loan,
the maturity date applicable to such Extended Term Loan in accordance with the terms hereof or (ii) Incremental Term Loan, the maturity
date applicable to such Incremental Term Loan in accordance with the terms hereof; provided that if any such day is not a Business
Day, the Maturity Date shall be the Business Day immediately preceding such day.

 

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“Minimum Extension Condition”
has the meaning specified in ‎Section 2.15(b).

 

“Minimum Tranche Amount” has
the meaning specified in ‎Section 2.15(b).

 

“Moody’s” means Moody’s
Investors Service, Inc. and any successor thereto.

 

“Mortgage” means, collectively,
the deeds of trust, trust deeds, deeds of hypothecation and mortgages creating and evidencing a Lien on a Mortgaged Property made by the
Loan Parties in favor or for the benefit of the Collateral Agent on behalf of the Secured Parties in form and substance reasonably satisfactory
to the Collateral Agent, and any other mortgages executed and delivered pursuant to Section ‎6.11
and/or Section ‎6.13.

 

“Mortgage Policies” has the
meaning specified in paragraph (f) of the definition of “Collateral and Guarantee Requirement.”

 

“Mortgaged Properties” has the
meaning specified in paragraph (f) of the definition of “Collateral and Guarantee Requirement.”

 

“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 contributions, or during the immediately preceding six (6) years, has made or been obligated to make contributions.

 

“Net Cash Proceeds” means:

 

(a)       with
respect to the Disposition of any asset by the Borrower or any Restricted Subsidiary or any Casualty Event, the excess, if any, of
(i) the sum of cash and Cash Equivalents received in connection with such Disposition or Casualty Event (including any cash or Cash
Equivalents received by way of deferred payment pursuant to, or by monetization of, a note receivable or otherwise, but only as and
when so received and, with respect to any Casualty Event, any insurance proceeds or condemnation awards in respect of such Casualty
Event actually received by or paid to or for the account of the Borrower or any Restricted Subsidiary) over (ii) the sum of (A) the
principal amount, premium or penalty, if any, interest and other amounts on any Indebtedness that is secured by the asset subject to
such Disposition or Casualty Event and that is required to be repaid (and is timely repaid) in connection with such Disposition or
Casualty Event (other than Indebtedness under the Loan Documents), (B) the out-of-pocket fees and expenses (including
attorneys’ fees, investment banking fees, survey costs, title insurance premiums, and related search and recording charges,
transfer taxes, deed or mortgage recording taxes, other customary expenses and brokerage, consultant and other customary fees)
actually incurred by the Borrower or such Restricted Subsidiary in connection with such Disposition or Casualty Event, (C) taxes
paid or reasonably estimated to be actually payable in connection therewith (including, for the avoidance of doubt, any income,
withholding and other taxes payable as a result of the distribution of such proceeds to the Borrower), and (D) any reserve for
adjustment in respect of (x) the sale price of such asset or assets established in accordance with GAAP and (y) any liabilities
associated with such asset or assets and retained by the Borrower or any Restricted Subsidiary after such sale or other disposition
thereof, including pension and other post-employment benefit liabilities and liabilities related to environmental matters or with
respect to any indemnification obligations associated with such transaction, it being understood that “Net Cash
Proceeds” shall include (i) any cash or Cash Equivalents received upon the Disposition of any non-cash consideration by
the Borrower or any Restricted Subsidiary in any such Disposition and (ii) upon the reversal (without the satisfaction of any
applicable liabilities in cash in a corresponding amount) of any reserve described in clause (D) above or if such liabilities have
not been satisfied in cash and such reserve is not reversed within 365 days after such Disposition or Casualty Event, the amount of
such reserve; provided that (x) no net cash proceeds calculated in accordance with the foregoing realized in a single
transaction or series of related transactions shall constitute Net Cash Proceeds unless such net cash proceeds shall exceed
$2,500,000 and (y) no such net cash proceeds shall constitute Net Cash Proceeds under this clause (a) in any fiscal year until the
aggregate amount of all such net cash proceeds in such fiscal year for all Dispositions shall exceed $7,500,000 (and thereafter only
net cash proceeds in excess of such amount shall constitute Net Cash Proceeds under this clause (a)); and

 

    36

     

    

 

(b)       with
respect to the incurrence or issuance of any Indebtedness by the Borrower or any Restricted Subsidiary, the excess, if any, of (x) the
sum of the cash received in connection with such incurrence or issuance over (y) the investment banking fees, underwriting discounts,
commissions, costs and other out-of-pocket expenses and other customary expenses incurred by the Borrower or such Restricted Subsidiary
in connection with such incurrence or issuance.

 

“Net Leverage Ratio” means,
with respect to any Test Period, the ratio of (a) Consolidated Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA
of the Borrower for such Test Period.

 

“Non-Consenting Lender” has
the meaning specified in ‎Section 3.07(d).

 

“Non-Loan Party” means any Subsidiary
of the Borrower that is not a Loan Party.

 

“Nonrenewal Notice Date” has
the meaning specified in ‎Section 2.03(b)(iii).

 

“Note” means a Term Note, or
a Revolving Credit Note as the context may require.

 

“Obligations” means all (x)
advances to, and debts, liabilities, obligations, covenants and duties of, any Loan Party or other Subsidiary arising under any Loan Document
or otherwise with respect to any Loan or Letter of Credit, whether direct or indirect (including those acquired by assumption), absolute
or contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement
by or against any Loan Party or any other Subsidiary of any proceeding under any Debtor Relief Laws naming such Person as the debtor in
such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding, (y) obligations of any Loan Party
or any other Subsidiary arising under any Secured Hedge Agreement (excluding any Excluded Swap Obligations), and (z) Cash Management Obligations.
Without limiting the generality of the foregoing, the Obligations of the Loan Parties under the Loan Documents (and of any of their Subsidiaries
to the extent they have obligations under the Loan Documents) include (a) the obligation (including guarantee obligations) to pay principal,
interest, Letter of Credit commissions, reimbursement obligations, charges, expenses, fees, Attorney Costs, indemnities and other amounts
payable by any Loan Party or any other Subsidiary under any Loan Document and (b) the obligation of any Loan Party or any other Subsidiary
to reimburse any amount in respect of any of the foregoing that any Lender, in its sole discretion, may elect to pay or advance on behalf
of such Loan Party or such Subsidiary. Notwithstanding anything herein to the contrary, “Obligations” shall in no event
include any Excluded Swap Obligations.

 

“OFAC” has the meaning specified
in ‎Section 5.19(b).

 

“Offered Loans” has the meaning
specified in ‎Section 2.05(d)(iii).

 

“Organization Documents” means
(a) with respect to any corporation, the certificate or articles of incorporation and the bylaws; (b) with respect to any limited liability
company, the certificate or articles of formation or organization and operating agreement; and (c) with respect to any partnership, joint
venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or organization
and any agreement, declaration, instrument, filing or notice with respect thereto filed in connection with its formation or organization
with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable, any certificate or
articles of formation or organization of such entity.

 

    37

     

    

 

“Other Taxes” means all
present or future stamp, court or documentary Taxes and any other excise, property, intangible, mortgage recording or similar Taxes
which arise from any payment made under any Loan Document or from the execution, delivery, performance, enforcement or registration
of, or otherwise with respect to, any Loan Document, excluding, in each case, any such Taxes resulting from an Assignment and
Assumption or transfer or assignment to or designation of a new Applicable Lending Office or other office for receiving payments
under any Loan Document (“Assignment Taxes”), but only to the extent such Assignment Taxes (i) are imposed as a
result of a present or former connection between the applicable Lender and the taxing jurisdiction (other than any connection
arising solely from any Loan Documents or any transactions contemplated thereby) and (ii) do not result from an assignment, change
of Applicable Lending Office, etc., requested by the Borrower (including, for the avoidance of doubt, under ‎Section
3.07 of this Agreement).

 

“Outstanding Amount” means (a)
with respect to the Term Loans and Revolving Credit Loans on any date, the outstanding principal amount thereof after giving effect to
any borrowings and prepayments or repayments thereof (including any refinancing of outstanding Unreimbursed Amounts under Letters of Credit
or L/C Credit Extensions as a Revolving Credit Borrowing), occurring on such date; and (b) with respect to any L/C Obligations on any
date, the outstanding amount thereof on such date after giving effect to any related L/C Credit Extension occurring on such date and any
other changes thereto as of such date, including as a result of any reimbursements of outstanding Unreimbursed Amounts under related Letters
of Credit (including any refinancing of outstanding Unreimbursed Amounts under related Letters of Credit or related L/C Credit Extensions
as a Revolving Credit Borrowing) or any reductions in the maximum amount available for drawing under related Letters of Credit taking
effect on such date.

 

“Overnight Rate” means, for
any day, the greater of (i) the Federal Funds Rate and (ii) an overnight rate determined by the Administrative Agent or the relevant L/C
Issuer, as the case may be, in accordance with banking industry rules on interbank compensation.

 

“Participant” has the meaning
specified in ‎Section 10.07(e).

 

“Participant Register” has the
meaning specified in ‎Section 10.07(e).

 

“Participating Member State”
means each state so described in any EMU Legislation.

 

“PBGC” means the Pension Benefit
Guaranty Corporation.

 

“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 any 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 six (6) years.

 

“Permitted Acquisition” has
the meaning specified in ‎Section 7.02(j).

 

“Permitted Equity Issuance”
means any sale or issuance of any Qualified Equity Interests of the Borrower.

 

“Permitted Holder” means each
of : (i) Jack Bendheim, (ii) each of Jack Bendheim’s spouse, siblings, ancestors, descendants (whether by blood, marriage or adoption,
and including stepchildren) and the spouses, siblings, ancestors and decedents thereof (whether by blood, marriage or adoption, and including
stepchildren) of such natural persons, the beneficiaries, estates and legal representatives of any of the foregoing, the trustee of any
bona fide trust of which any of the foregoing, individually or in the aggregate, are the majority in interest beneficiaries or grantors,
and any corporation, partnership, limited liability company or other Person in which any of the foregoing, individually or in the aggregate,
own or control a majority interest and (iii) any other Person that qualifies as a “Permitted Entity” or “Qualified
Stockholder” under the certificate of incorporation of the Borrower as in effect on the Closing Date.

 

    38

     

    

 

“Permitted Receivables Financing”
means one or more receivables purchase facilities made available to any Brazil Entity, including Phibro Saude Animal Internacional Ltda
and Phibro Saude e Nutricao Animal Ltda., on then-market terms (as reasonably determined by the Borrower).

 

“Permitted Refinancing” means,
with respect to any Person, any modification (other than a release of such Person), refinancing, refunding, renewal or extension of any
Indebtedness of such Person; provided that (a) the principal amount (or accreted value, if applicable) thereof does not exceed
the principal amount (or accreted value, if applicable) of the Indebtedness so modified, refinanced, refunded, renewed or extended except
by an amount equal to unpaid accrued interest and premium thereon plus other reasonable amounts paid, and fees and expenses reasonably
incurred, in connection with such modification, refinancing, refunding, renewal or extension and by an amount equal to any existing commitments
unutilized thereunder, and as otherwise permitted under ‎Section
7.03, (b) other than with respect to a Permitted Refinancing in respect of Indebtedness permitted pursuant to ‎Section
7.03(f), such modification, refinancing, refunding, renewal or extension has a final maturity date equal to or later than the final maturity
date of, and has a Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of, the Indebtedness
being modified, refinanced, refunded, renewed or extended, (c) other than with respect to a Permitted Refinancing in respect of Indebtedness
permitted pursuant to ‎Section 7.03(f), at the time thereof, no
Event of Default shall have occurred and be continuing, (d) (i) to the extent such Indebtedness being so modified, refinanced, refunded,
renewed or extended is subordinated in right of payment to the Obligations, such modification, refinancing, refunding, renewal or extension
is subordinated in right of payment to the Obligations on terms at least as favorable to the Lenders as those contained in the documentation
governing the Indebtedness being so modified, refinanced, refunded, renewed or extended, and (ii) the terms and conditions (including,
if applicable, as to collateral but excluding as to subordination, interest rate and redemption premium) of any such modified, refinanced,
refunded, renewed or extended Indebtedness, taken as a whole, are not materially less favorable to the Loan Parties or the Lenders than
the terms and conditions of the Indebtedness being modified, refinanced, refunded, renewed or extended (provided that a certificate
of a Responsible Officer delivered to the Administrative Agent at least five (5) Business Days prior to the incurrence of such Indebtedness,
together with a reasonably detailed description of the material terms and conditions of such Indebtedness or drafts of the documentation
relating thereto, stating that the Borrower has determined in good faith that such terms and conditions satisfy the foregoing requirement,
shall be conclusive evidence that such terms and conditions satisfy the foregoing requirement unless the Administrative Agent notifies
the Borrower within such five Business Day period that it disagrees with such determination (including a reasonable description of the
basis upon which it disagrees)) or, to the extent such Indebtedness being so modified, refinanced, refunded, renewed or extended was incurred
on market terms, are otherwise on market terms at the time of incurrence or issuance and (d) such modification, refinancing, refunding,
renewal or extension is incurred by a Person who is the obligor of the Indebtedness being so modified, refinanced, refunded, renewed or
extended.

 

“Permitted Sale Leaseback” means
any Sale Leaseback consummated by the Borrower or any of its Restricted Subsidiaries after the Closing Date in an amount not to exceed
$5,000,000 in any fiscal year; provided that any such Sale Leaseback not between (a) a Loan Party and another Loan Party or (b)
a Restricted Subsidiary that is not a Loan Party and another Restricted Subsidiary that is not a Loan Party must be, in each case, consummated
for fair value as determined at the time of consummation in good faith by the Borrower or such Restricted Subsidiary.

 

“Person” means any natural person,
corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity.

 

“Plan” means any “employee
benefit plan” (as such term is defined in Section 3(3) of ERISA) other than a Foreign Plan, established or maintained by any
Loan Party or, with respect to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, any ERISA Affiliate.

 

    39

     

    

 

“Plan of Reorganization” has
the meaning specified in ‎Section 10.07(k).

 

“Platform” has the meaning specified
in ‎Section 6.02.

 

“Post-Acquisition Period” means,
with respect to any Specified Transaction, the period beginning on the date such Specified Transaction is consummated and ending on the
last day of the fourth full consecutive fiscal quarter immediately following the date on which such Specified Transaction is consummated.

 

“Pre-Adjustment Successor
Rate” has the meaning specified in Section 3.03(b).

 

“Pro Forma Adjustment”
means, for any Test Period that includes all or any part of a fiscal quarter included in any Post-Acquisition Period, with respect
to the Acquired EBITDA of the applicable Acquired Entity or Business or Converted Restricted Subsidiary or the Consolidated EBITDA
of the Borrower, (a) the pro forma increase or decrease in such Acquired EBITDA or such Consolidated EBITDA, as the case may be,
that is factually supportable and is expected to have a continuing impact, in each case as determined on a basis consistent with
Article 11 of Regulation S-X of the Securities Act, as interpreted by the Securities and Exchange Commission and (b) additional good
faith pro forma adjustments arising out of cost savings initiatives attributable to such transaction and additional costs associated
with the combination of the operations of such Acquired Entity or Business or Converted Restricted Subsidiary with the operations of
the Borrower and its Restricted Subsidiaries, in each case being given pro forma effect, that (i) have been realized or (ii) will be
implemented within the relevant Post-Acquisition Period and are supportable and quantifiable and expected to be realized within the
succeeding twelve (12) months and, in each case, including, but not limited to, (w) reduction in personnel expenses, (x) reduction
of costs related to administrative functions, (y) reductions of costs related to leased or owned properties and (z) reductions from
the consolidation of operations and streamlining of corporate overhead) taking into account, for purposes of determining such
compliance, the historical financial statements of the Acquired Entity or Business or Converted Restricted Subsidiary and the
consolidated financial statements of the Borrower and its Subsidiaries, assuming such Permitted Acquisition or Disposition, and all
other Permitted Acquisitions or Dispositions that have been consummated during the period, and any Indebtedness or other liabilities
repaid in connection therewith had been consummated and incurred or repaid at the beginning of such period (and assuming that such
Indebtedness to be incurred bears interest during any portion of the applicable measurement period prior to the relevant acquisition
at the interest rate which is or would be in effect with respect to such Indebtedness as at the relevant date of determination); provided
that, so long as such actions are taken during such Post-Acquisition Period or such costs are incurred during such Post-Acquisition
Period, as applicable, for purposes of projecting such pro forma increase or decrease to such Acquired EBITDA or such Consolidated
EBITDA, as the case may be, it may be assumed that such cost savings will be realizable during the entirety of such Test Period, or
such additional costs, as applicable, will be incurred during the entirety of such Test Period; provided further that (i) the
aggregate amount added back to Consolidated EBITDA pursuant to clause (v) and clause (vii) paragraph (a) of the definition thereof
and any increase in Consolidated EBITDA as a result of such Pro Forma Adjustment attributable to business optimization expenses
(other than as a result of an actual increase in revenues or an actual reduction in costs) pursuant to this clause (b) shall not
exceed 20% of total Consolidated EBITDA on a Pro Forma Basis for such Test Period and (ii) any such pro forma increase or decrease
in Consolidated EBITDA shall be without duplication of cost savings or additional costs already included in such Consolidated
EBITDA.

 

    40

     

    

 

“Pro Forma Balance Sheet” has
the meaning specified in ‎‎‎Section 4.01(j).

 

“Pro Forma Basis” and “Pro
Forma Effect” mean, with respect to compliance with any test hereunder for an applicable period of measurement, that (A) to
the extent applicable, the Pro Forma Adjustment shall have been made and (B) all Specified Transactions and the following transactions
in connection therewith shall be deemed to have occurred as of the first day of the applicable period of measurement (as of the last date
in the case of a balance sheet item) in such test: (a) income statement items (whether positive or negative) attributable to the property
or Person subject to such Specified Transaction, (i) in the case of a Disposition of all or substantially all Equity Interests in any
Subsidiary of the Borrower or any division, product line, or facility used for operations of the Borrower or any of its Subsidiaries,
shall be excluded, and (ii) in the case of a Permitted Acquisition or Investment described in the definition of “Specified Transaction,”
shall be included, (b) any retirement of Indebtedness, and (c) any Indebtedness incurred or assumed by the Borrower or any of its Restricted
Subsidiaries in connection therewith and if such Indebtedness has a floating or formula rate, shall have an implied rate of interest for
the applicable period for purposes of this definition determined by utilizing the rate which is or would be in effect with respect to
such Indebtedness as at the relevant date of determination; provided that, without limiting the application of the Pro Forma Adjustment
pursuant to (A) above, the foregoing pro forma adjustments may be applied to any such test solely to the extent that such adjustments
are consistent with the definition of Consolidated EBITDA and give effect to events (including operating expense reductions) that are
(as determined by the Borrower in good faith) (i) (x) directly attributable to such transaction, (y) expected to have a continuing impact
on the Borrower and its Restricted Subsidiaries and (z) factually supportable or (ii) otherwise consistent with the definition of Pro
Forma Adjustment.

 

“Pro Forma Compliance” means
compliance on a Pro Forma Basis with the Financial Covenants.

 

“Pro Forma Financial Statements”
has the meaning specified in ‎Section 5.05(b).

 

“Pro Rata Share” means, with
respect to each Lender at any time a fraction (expressed as a percentage, carried out to the ninth decimal place), the numerator of which
is the amount of the Commitments (or Loans, in the case of Term Loans) of such Lender under the applicable Facility or Facilities at such
time and the denominator of which is the amount of the Aggregate Commitments (or aggregate Loans, in the case of Term Loans) under the
applicable Facility or Facilities at such time; provided that if the Revolving Credit Commitments have been terminated, then the
Pro Rata Share of each Lender shall be determined based on the Pro Rata Share of such Lender immediately prior to such termination and
after giving effect to any subsequent assignments made pursuant to the terms hereof.

 

“Proposed Discounted Prepayment Amount”
has the meaning specified in ‎Section 2.05(d)(ii).

 

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“PTE” means a prohibited transaction
class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time.

 

“Qualified ECP Guarantor” means,
in respect of any Swap Obligation, each Loan Party that has total assets exceeding $10,000,000 at the time the relevant guarantee 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 any Equity Interests that are not Disqualified Equity Interests.

 

“Qualifying Lenders” has the
meaning specified in ‎Section 2.05(d)(iv).

 

“Qualifying Loans” has the meaning
specified in ‎Section 2.05(d)(iv).

 

“Qualifying Material Acquisition”
means any Permitted Acquisition or similar Investment permitted under this Agreement with an acquisition consideration equal to or greater
than $25 million.

 

“Rabobank” means Coöperatieve
Rabobank U.A., New York Branch.

 

“Refinancing” means the repayment
in full of, and termination of commitments under, the Credit Agreement, dated as of April 16, 2014 (as amended, restated, amended and
restated, supplemented or modified from time to time) among the Borrower, the lenders party thereto from time to time and Bank of America,
as administrative agent.

 

“Refinancing Revolving Commitments”
means Incremental Revolving Commitments that are designated by a Responsible Officer of the Borrower as “Refinancing Revolving
Commitments” in a certificate of a Responsible Officer of the Borrower delivered to the Administrative Agent on or prior to
the date of incurrence.

 

“Refinancing Term Loans” means
Incremental Term Loans and Incremental Term Loan Increases that are designated by a Responsible Officer of the Borrower as “Refinancing
Term Loans” in a certificate of a Responsible Officer of the Borrower delivered to the Administrative Agent on or prior to the
date of incurrence.

 

“Register” has the meaning specified
in ‎Section 10.07(d).

 

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"Related Adjustment" means, in
determining any LIBOR Successor Rate, the first relevant available alternative set forth in the order below that can be determined by
Agent applicable to such LIBOR Successor Rate: (a) the spread adjustment, or method for calculating or determining such spread adjustment,
that has been selected or recommended by the Relevant Governmental Body for the relevant Pre-Adjustment Successor Rate (taking into account
the interest period, interest payment date or payment period for interest calculated and/or tenor thereto) and which adjustment or method
(i) is published on an information service as selected by Agent from time to time in its discretion or (ii) solely with respect to Term
SOFR, if not currently published, which was previously so recommended for Term SOFR and published on an information service acceptable
to Agent; or (b) the spread adjustment that would apply (or has previously been applied) to the fallback rate for a derivative transaction
referencing the ISDA Definitions (taking into account the interest period, interest payment date or payment period for interest calculated
and/or tenor thereto).

 

“Related Indemnified Person”
means, with respect to any Indemnitee, (1) any controlling person or controlled affiliate of such Indemnitee and (2) the respective directors,
officers or employees of such Indemnitee or any of its controlling persons or controlled affiliates and (3) the respective agents, advisors
or representatives of such Indemnitee or any of its controlling persons or controlled affiliates, in the case of this clause (3) acting
on behalf of such Indemnitee, controlling person or such controlled affiliate; provided that each reference to a controlled affiliate
or controlling person in this definition pertains to a controlled affiliate or controlling person involved in any one of the Transaction.

 

“Related Parties” means, with
respect to any Person, such Person’s Affiliates, and the partners, directors, officers, employees, counsel, agents, trustees, controlling
persons, advisors and other representatives and successors of such Person and of such Person’s Affiliates.

 

“Release” means any release,
spill, emission, discharge, deposit, disposal, leaking, pumping, pouring, dumping, emptying, injection or leaching into the Environment
or into, from or through any building, structure or facility.

 

"Relevant Governmental Body" means
the Federal Reserve Board and/or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Federal Reserve
Board and/or the Federal Reserve Bank of New York.

 

“Reportable Event” means, with
respect to any Plan, any of the events set forth in Section 4043(c) of ERISA or the regulations issued thereunder, other than events for
which the thirty (30) day notice period has been waived.

 

“Request for Credit Extension”
means (a) with respect to a Borrowing, conversion or continuation of Term Loans or Revolving Credit Loans, a Committed Loan Notice and
(b) with respect to an L/C Credit Extension, a Letter of Credit Application.

 

“Required Lenders” means, as
of any date of determination, Lenders having more than 50% of the sum of the (a) Total Outstandings (with the aggregate outstanding amount
of each Lender’s risk participation and funded participation in L/C Obligations being deemed “held” by such Lender
for purposes of this definition), (b) aggregate unused Term A Commitments, and (c) aggregate unused Revolving Credit Commitments; provided
that the unused Term A Commitment and unused Revolving Credit Commitment of, and the portion of the Total Outstandings held or deemed
held by any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders.

 

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“Required Revolving Credit Lenders”
means, as of any date of determination, at least two Lenders having more than 50.0% in the aggregate of (a) the Revolving Credit Commitments
or (b) after the termination of the Revolving Credit Commitments, the Revolving Credit Exposure; provided that the Revolving Credit
Commitment and the Revolving Credit Exposure of any Defaulting Lender shall be excluded for the purposes of making a determination of
Required Revolving Credit Lenders.

 

“Rescindable Amount” has the
meaning specified in Section 2.12(h).

 

“Resolution Authority” shall
mean an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.

 

“Responsible Officer” means
the chief executive officer, president, vice president, chief financial officer, treasurer, assistant treasurer or manager of treasury
services or other similar officer of a Loan Party and, as to any document delivered on the Closing Date, any secretary or assistant secretary
of a Loan Party and, solely for purposes of notices given pursuant to Article II, any other officer or employee of the applicable Loan
Party so designated by any of the foregoing officers in a notice to the Administrative Agent or any other officer or employee of the applicable
Loan Party designated in or pursuant to an agreement between the applicable Loan Party and the Administrative Agent. Any document delivered
hereunder that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all necessary
corporate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed
to have acted on behalf of such Loan Party.

 

“Restatement Effective Date”
means April 22, 2021, the first date on which all conditions precedent in Section 4.03 are satisfied or waived in accordance with Section
4.03.

 

“Restricted Payment” means any
dividend or other distribution (whether in cash, securities or other property) with respect to any Equity Interest in the Borrower or
any Restricted Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit,
on account of the purchase, redemption, retirement, defeasance, acquisition, cancellation or termination of any such Equity Interest,
or on account of any return of capital to the holders of Equity Interests of the Borrower.

 

“Restricted Subsidiary” means
any Subsidiary of the Borrower other than an Unrestricted Subsidiary.

 

“Revolving Credit Borrowing”
means a borrowing consisting of Revolving Credit Loans of the same Class and Type made, converted or continued on the same date and, in
the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Revolving Credit Lenders pursuant to ‎Section
2.01(b).

 

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“Revolving Credit Commitment”
means, as to each Revolving Credit Lender, its obligation to (a) make Revolving Credit Loans to the Borrower pursuant to Section ‎2.01(b)
or Section ‎2.03, as applicable and (b) purchase participations
in L/C Obligations in respect of Letters of Credit, in an aggregate principal amount at any one time outstanding not to exceed the amount
set forth opposite such Lender’s name on Schedule 1.01C under the caption “Revolving Credit Commitment” or in the Assignment
and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in
accordance with this Agreement. The aggregate Revolving Credit Commitments of all Revolving Credit Lenders shall be $250,000,000 on the
Restatement Effective Date as such amount may be adjusted from time to time in accordance with the terms of this Agreement.

 

“Revolving Credit Exposure”
means, as to each Revolving Credit Lender at any time, the sum of (a) the outstanding principal amount of all Revolving Credit Loans held
by such Revolving Credit Lender (or its Applicable Lending Office) and (b) such Revolving Credit Lender’s Pro Rata Share of the
L/C Obligations.

 

“Revolving Credit Facility”
has the meaning specified in the Preliminary Statements to this Agreement.

 

“Revolving Credit Lender” means,
at any time, any Lender that has a Revolving Credit Commitment or that holds Revolving Credit Loans at such time.

 

“Revolving Credit Loan” has
the meaning specified in ‎Section 2.01(b).

 

“Revolving Credit Note” means
a promissory note of the Borrower payable to any Revolving Credit Lender or its registered assigns, in substantially the form of Exhibit
C-2 hereto, evidencing the aggregate Indebtedness of the Borrower to such Revolving Credit Lender resulting from the Revolving Credit
Loans made by such Revolving Credit Lender.

 

“S&P” means Standard &
Poor’s Ratings Services, a subsidiary of S&P Global Inc., and any successor thereto.

 

“Sale Leaseback” means any transaction
or series of related transactions pursuant to which the Borrower or any of its Restricted Subsidiaries (a) sells, transfers or otherwise
disposes of any property, real or personal, whether now owned or hereafter acquired, and (b) as part of such transaction, thereafter rents
or leases such property or other property that it intends to use for substantially the same purpose or purposes as the property being
sold, transferred or disposed.

 

“Same Day Funds” means immediately
available funds.

 

“Sanction(s)” has the meaning
specified in ‎Section 5.19(b).

 

“SEC” means the Securities and
Exchange Commission, or any Governmental Authority succeeding to any of its principal functions.

 

“Secured Hedge Agreement” means
any Swap Contract permitted under ‎Section 7.03(g) that is entered
into by and between any Loan Party or any Restricted Subsidiary and any Hedge Bank.

 

“Secured Parties” means, collectively,
the Administrative Agent, the Collateral Agent, the Lenders, the Hedge Banks, the Cash Management Banks, the Supplemental Administrative
Agent and each co-agent or sub-agent appointed by the Administrative Agent from time to time pursuant to ‎Section
9.01(c).

 

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“Securities Act” means the Securities
Act of 1933.

 

“Security Agreement” means,
collectively, (a) the Security Agreement executed by certain Loan Parties substantially in the form of Exhibit G and (b) each Security
Agreement Supplement executed and delivered pursuant to ‎Section
6.11.

 

“Security Agreement Supplement”
has the meaning specified in the Security Agreement.

 

"SOFR" means with respect to any
Business Day, the secured overnight financing rate published for such day by the Federal Reserve Bank of New York, as the administrator
of the benchmark (or a successor administrator) on the Federal Reserve Bank of New York's website (or any successor source) at approximately
8:00 a.m. (New York City time) on the immediately succeeding Business Day and, in each case, that has been selected or recommended by
the Relevant Governmental Body.

 

“Sold Entity or Business” has
the meaning specified in the definition of the term “Consolidated EBITDA.”

 

“Solvent” and “Solvency”
mean, with respect to any Person on any date of determination, that on such date (i) the fair value of the property (for the avoidance
of doubt, calculated to include goodwill and other intangibles) of such Person is greater than the total amount of liabilities, including
contingent liabilities, of such Person, (ii) the present fair salable value of the assets of such Person is not less than the amount that
will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (iii) such Person does
not intend to, and does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay such debts and
liabilities as they mature and (iv) such Person is not engaged in business or a transaction, and is not about to engage in business or
a transaction, for which such Person’s property would constitute an unreasonably small capital; the amount of contingent liabilities
at any time shall be computed as the amount that, in the light of all the facts and circumstances existing at such time, represents the
amount that can reasonably be expected to become an actual or matured liability.

 

“SPC” has the meaning specified
in ‎Section 10.07(h).

 

“Specified Transaction” means
any Investment, Disposition, incurrence or repayment of Indebtedness, Restricted Payment, Subsidiary designation (as a Restricted Subsidiary
or an Unrestricted Subsidiary), discontinuance of operations, the incurrence of Incremental Term Loans or Incremental Revolving Commitments,
or any other event that by the terms of this Agreement requires such test to be calculated on a “Pro Forma Basis” or
after giving “Pro Forma Effect”; provided that any increase in the Revolving Credit Commitment, for purposes
of this “Specified Transaction” definition, shall be deemed to be fully drawn; provided, further, that
any such Specified Transaction having an aggregate value of less than $5,000,000 shall not be calculated on a “Pro Forma Basis”
or after giving “Pro Forma Effect.”

 

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“Spot Rate” for a currency means
the rate determined by the Administrative Agent, to be the rate quoted by the Person acting in such capacity as the spot rate for the
purchase by such Person of such currency with another currency through its principal foreign exchange trading office at approximately
11:00 a.m. on the date two Business Days prior to the date as of which the foreign exchange computation is made; provided that
the Administrative Agent may obtain such spot rate from another financial institution designated by the Administrative Agent if the Person
acting in such capacity does not have as of the date of determination a spot buying rate for any such currency.

 

“Subordinated Debt” means Indebtedness
incurred by a Loan Party that is contractually subordinated in right of payment to the prior payment of all Obligations of such Loan Party
under the Loan Documents.

 

“Subordinated Debt Documents”
means any agreement, indenture and instrument pursuant to which any Subordinated Debt is issued, in each case as amended to the extent
permitted under the Loan Documents.

 

“Subsidiary” of a Person means
a corporation, partnership, joint venture, limited liability company or other business entity of which a majority of the shares of securities
or other interests having ordinary voting power for the election of directors or other governing body (other than securities or interests
having such power only by reason of the happening of a contingency) are at the time beneficially owned, or the management of which is
otherwise controlled, directly or indirectly, through one or more intermediaries, or both, by such Person. Unless otherwise specified,
all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries
of the Borrower.

 

“Subsidiary Guarantor” means,
collectively, the Subsidiaries of the Borrower that are Guarantors.

 

“Supplemental Administrative Agent”
has the meaning specified in ‎Section 9.12(a) and “Supplemental
Administrative Agents” shall have the corresponding meaning.

 

“Surviving Indebtedness” has
the meaning specified in ‎Section 7.03(c).

 

“Swap Contract” means (a)
any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps,
commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or
options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange
transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap
transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing
(including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any
master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and
conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc.,
any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any
related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master
Agreement.

 

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“Swap Obligation” means, with
respect to any Guarantor, 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.

 

“Swap Termination Value” means,
in respect of any one or more Swap Contracts, after taking into account the effect of any legally enforceable netting agreement relating
to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined
in accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined
as the mark to market value(s) for such Swap Contracts, as determined by the Hedge Bank (or the Borrower, if no Hedge Bank is party to
such Swap Contract) in accordance with the terms thereof and in accordance with customary methods for calculating mark-to-market values
under similar arrangements by the Hedge Bank (or the Borrower, if no Hedge Bank is party to such Swap Contract).

 

“SWIFT” has the meaning specified
in ‎Section 2.03(f).

 

“Syndication Agent” means Rabobank
in its capacity as Syndication Agent under this Agreement.

 

“Taxes” means all present or
future taxes, duties, levies, imposts, deductions, assessments, fees, withholdings or similar charges, and all liabilities (including
additions to tax, penalties and interest) with respect thereto.

 

“Term A Borrowing” means a Borrowing
in respect of Term A Loans.

 

“Term A Commitment” means, as
to each Term A Lender, its obligation to make a Term A Loan to the Borrower pursuant to ‎Section
2.01(a) in an aggregate principal amount not to exceed the amount set forth opposite such Lender’s name on Schedule 1.01D under
the caption “Term A Commitment” or in the Assignment and Assumption pursuant to which such Term A Lender becomes a
party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. The initial aggregate
amount of the Term A Commitments is $300,000,000.

 

“Term A Lender” means, at any
time, any Lender that has a Term A Commitment or a Term A Loan at such time.

 

“Term A Loan” means a Loan made
pursuant to ‎Section 2.01(a).

 

“Term Borrowing” means a Term
A Borrowing or a borrowing in respect of Incremental Term Loans, as the context requires.

 

“Term Lender” means, at any
time, any lender that has a Term A Commitment, a Term A Loan or an Incremental Term Loan at such time.

 

“Term Loan” means a Term A Loan,
an Incremental Term Loan or an Extended Term Loan, as the context requires.

 

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“Term Commitments” means a Term
A Commitment or a commitment in respect of any Incremental Term Loans or any combination thereof, as the context may require.

 

“Term Note” means a promissory
note of the Borrower payable to any Term Lender or its registered assigns, in substantially the form of Exhibit C-1 hereto with appropriate
insertions, evidencing the aggregate Indebtedness of the Borrower to such Term Lender resulting from any Class of Term Loans made by such
Term Lender.

 

“Term SOFR” means the forward-looking
term rate for any period that is approximately (as determined by Agent) as long as any of the Interest Period options set forth in the
definition of "Interest Period" and that is based on SOFR and that has been selected or recommended by the Relevant Governmental
Body, in each case as published on an information service as selected by Agent from time to time in its discretion.

 

“Test Period” means, at any
date of determination, the most recently completed four consecutive fiscal quarters of the Borrower ending on or prior to such date for
which financial statements have been or are required to be delivered pursuant to Section ‎6.01(a)
or ‎(b) provided that prior to the first date that Financial Statements
have been delivered pursuant to Section ‎6.01(a) or ‎(b),
the Test Period in effect shall be the four consecutive fiscal quarters of the Borrower ended December 31, 2020.

 

“Threshold Amount” means $15,000,000.

 

“Total Assets” means the total
assets of the Borrower and its Restricted Subsidiaries on a consolidated basis, as shown on the most recent balance sheet of the Borrower
delivered pursuant to ‎Section 6.01(a) or (b) or, for the period
prior to the time any such statements are so delivered pursuant to Section ‎6.01(a)
or (b), the pro forma financial statements of the Borrower giving effect to the Transaction.

 

“Total Outstandings” means the
aggregate Outstanding Amount of all Loans and all L/C Obligations.

 

“Total Revolving Outstandings”
means the aggregate Outstanding Amount of all Revolving Credit Loans and all L/C Obligations.

 

“Trade Date” has the meaning
specified in ‎Section 10.07(k).

 

“Transaction” means, collectively,
(a) the funding of the Term Loans and the Initial Revolving Borrowing on the Restatement Effective Date, (b) the consummation of any other
transactions in connection with the foregoing and (c) the payment of the fees and expenses incurred in connection with any of the foregoing.

 

“Transaction Expenses” means
any fees or expenses incurred or paid by the Borrower or any Restricted Subsidiary in connection with the Transaction, this Agreement
and the other Loan Documents and the transactions contemplated hereby and thereby.

 

“Type” means, with respect to
a Loan, its character as a Base Rate Loan, a Eurodollar Rate Loan or a LIBOR Daily Floating Rate Loan.

 

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“UK Financial Institution” means
any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom
Prudential Regulation 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 affiliates
of such credit institutions or investment firms.

 

“UK Resolution Authority” shall
mean the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution.

 

“Unaudited Financial Statements”
means the unaudited balance sheets and related statements of income and cash flows of the Borrower and its Subsidiaries for each fiscal
quarter ended after the most recent fiscal year covered by the Audited Financial Statements and at least forty-five (45) days before the
Restatement Effective Date.

 

“Uniform Commercial Code” or
 “UCC” means the Uniform Commercial Code as the same may from time to time be in effect in the State of New York or
the Uniform Commercial Code (or similar code or statute) of another jurisdiction, to the extent it may be required to apply to any item
or items of Collateral.

 

“United States” and “U.S.”
mean the United States of America.

 

“UNSC” has the meaning specified
in ‎Section 5.19(b).

 

“Unreimbursed Amount” has the
meaning specified in ‎Section 2.03(c)(i).

 

“Unrestricted Subsidiary” means
(i) each Subsidiary of the Borrower listed on Schedule 1.01E, (ii) any Subsidiary of the Borrower designated by the board of directors
of the Borrower as an Unrestricted Subsidiary pursuant to ‎Section
6.14 subsequent to the Closing Date and (iii) any Subsidiary of an Unrestricted Subsidiary.

 

“USA PATRIOT Act” means The
Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Title III of
Pub. L. No. 107-56 (signed into law October 26, 2001)), as amended or modified from time to time.

 

“Voting Stock” means, with respect
to any Person, Equity Interests of such Person entitling the holders thereof the right to vote in the election of directors of such Person
under ordinary circumstances.

 

“Weighted Average Life to Maturity”
means, when applied to any Indebtedness at any date, the number of years obtained by dividing: (i) the sum of the products obtained by
multiplying (a) the amount of each then remaining installment, sinking fund, serial maturity or other required payments of principal,
including payment at final maturity, in respect thereof, by (b) the number of years (calculated to the nearest one-twelfth) that will
elapse between such date and the making of such payment by (ii) the then outstanding principal amount of such Indebtedness.

 

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“Wholly-Owned” means, with respect
to a Subsidiary of a Person, a Subsidiary of such Person all of the outstanding Equity Interests of which (other than (x) director’s
qualifying shares, (y) shares issued to foreign nationals to the extent required by applicable Law and (z) other de minimus share issuances)
are owned by such Person and/or by one or more wholly-owned Subsidiaries of such Person.

 

“Withdrawal Liability” means
the liability of a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are
defined in Part I of Subtitle E of Title IV of ERISA.

 

"Write-Down and Conversion Powers"
means (a) with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time
to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the
EU Bail-In Legislation Schedule 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 instrument
under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any
other person, to provide that any such contract or instrument is to have effect as if a right had been exercised 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.

 

Section 1.02.     
Other Interpretive Provisions. With reference to this Agreement and each other Loan Document, unless otherwise specified
herein or in such other Loan Document:

 

(a)           
The meanings of defined terms are equally applicable to the singular and plural forms of the defined terms.

 

(b)           
(i) The words “herein,” “hereto,” “hereof” and “hereunder”
and words of similar import when used in any Loan Document shall refer to such Loan Document as a whole and not to any particular provision
thereof.

 

(ii)           
Article, Section, Exhibit and Schedule references are to the Loan Document in which such reference appears.

 

(iii)           
The term “including” is by way of example and not limitation.

 

(iv)           
 The term “documents” includes any and all instruments, documents, agreements, certificates, notices, reports,
financial statements and other writings, however evidenced, whether in physical or electronic form.

 

(c)           
In the computation of periods of time from a specified date to a later specified date, the word “from” means
 “from and including”; the words “to” and “until” each mean “to but excluding”;
and the word “through” means “to and including.”

 

(d)           
Section headings herein and in the other Loan Documents are included for convenience of reference only and shall not affect the
interpretation of this Agreement or any other Loan Document.

 

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Section 1.03.     
Accounting Terms. (a) All accounting terms not specifically or completely defined herein shall be construed in conformity
with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement
shall be prepared in conformity with, GAAP, applied in a manner consistent with that used in preparing the Audited Financial Statements,
except as otherwise specifically prescribed herein.

 

(b)           
Notwithstanding anything to the contrary herein, for purposes of determining compliance with any test or basket contained in this
Agreement with respect to any period (or date, as applicable) during (or on) which any Specified Transaction occurs, the Net Leverage
Ratio, the First Lien Net Leverage Ratio, the Consolidated Interest Coverage Ratio and Total Assets shall be calculated with respect to
such period (or date) and such Specified Transaction on a Pro Forma Basis.

 

(c)           
Where reference is made to “the Borrower and its Restricted Subsidiaries on a consolidated basis” or similar
language, such consolidation shall not include any Subsidiaries of the Borrower other than Restricted Subsidiaries.

 

(d)           
In the event that the Borrower elects to prepare its financial statements in accordance with IFRS and such election results in
a change in the method of calculation of financial covenants, standards or terms (collectively, the “Accounting Changes”)
in this Agreement, the Borrower and the Administrative Agent agree to enter into good faith negotiations in order to amend such provisions
of this Agreement (including the levels applicable herein to any computation of the Net Leverage Ratio, the First Lien Net Leverage Ratio
and the Consolidated Interest Coverage Ratio) so as to reflect equitably the Accounting Changes with the desired result that the criteria
for evaluating the Borrower’s financial condition shall be substantially the same after such change as if such change had not been
made. Until such time as such an amendment shall have been executed and delivered by the Borrower, the Administrative Agent and the Required
Lenders, all financial covenants, standards and terms in this Agreement shall continue to be calculated or construed in accordance with
GAAP (as determined in good faith by a Responsible Officer of the Borrower) (it being agreed that the reconciliation between GAAP and
IFRS used in such determination shall be made available to Lenders) as if such change had not occurred.

 

(e)            Notwithstanding
anything to the contrary contained in paragraph (a) above or in the definition of “Capitalized Lease,” in the event of
an accounting change requiring all leases to be capitalized, only those leases (assuming for purposes hereof that such leases were
in existence on the date hereof) that would constitute Capitalized Leases in conformity with GAAP on the date hereof shall be
considered Capitalized Leases, and all calculations and deliverables under this Agreement or any other Loan Document shall be made
or delivered, as applicable, in accordance therewith.

 

Section 1.04.     
Rounding. Any financial ratios required to be satisfied in order for a specific action to be permitted under this Agreement
shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number
of places by which such ratio is expressed herein and rounding the result up or down to the nearest number (with a rounding-up if there
is no nearest number).

 

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Section 1.05.     
References to Agreements, Laws, etc. Unless otherwise expressly provided herein, (a) references to Organization Documents,
agreements (including the Loan Documents) and other contractual instruments shall be deemed to include all subsequent amendments, restatements,
extensions, supplements and other modifications thereto, but only to the extent that such amendments, restatements, extensions, supplements
and other modifications are permitted by any Loan Document; and (b) references to any Law shall include all statutory and regulatory provisions
consolidating, amending, replacing, supplementing or interpreting such Law.

 

Section 1.06.     
Times of Day. Unless otherwise specified, all references herein to times of day shall be references to Eastern time (daylight
or standard, as applicable).

 

Section 1.07.     
Timing of Payment or Performance. When the payment of any obligation or the performance of any covenant, duty or obligation
is stated to be due or performance required on a day which is not a Business Day, the date of such payment (other than as described in
the definition of Interest Period) or performance shall extend to the immediately succeeding Business Day.

 

Section 1.08.     
Currency Equivalents Generally.

 

(i)       For
purposes of determining compliance with Sections ‎7.01, ‎7.02
and ‎7.03 with respect to any amount of Indebtedness or Investment
in a currency other than Dollars, no Default shall be deemed to have occurred solely as a result of changes in rates of exchange occurring
after the time such Lien Indebtedness or Investment is incurred; provided that, for the avoidance of doubt, the foregoing provisions
of this ‎Section 1.08 shall otherwise apply to such Sections, including
with respect to determining whether any Lien, Indebtedness or Investment may be incurred at any time under such Sections.

 

(ii)       For
purposes of determining compliance under ‎Article 7, any amount
in a currency other than Dollars will be converted to Dollars in a manner consistent with that used in calculating net income in the Borrower’s
annual financial statements delivered pursuant to ‎Section 6.01(a);
provided, however, that the foregoing shall not be deemed to apply to the determination of any amount of Indebtedness.

 

(a)           
 For purposes of determining compliance with any restriction on the incurrence of Indebtedness, the Dollar Equivalent of the principal
amount of Indebtedness denominated in a foreign currency shall be calculated based on the Spot Rate in effect on the date such Indebtedness
was incurred, in the case of term debt, or first committed, in the case of revolving credit debt; provided that if such Indebtedness
is incurred to extend, replace, refund, refinance, renew or defease other Indebtedness denominated in a foreign currency, and such extension,
replacement, refunding, refinancing, renewal or defeasance would cause the applicable restriction to be exceeded if calculated at the
Dollars exchange rate in effect on the date of such extension, replacement, refunding, refinancing, renewal or defeasance, such restriction
shall be deemed not to have been exceeded so long as the principal amount of such refinancing Indebtedness does not exceed the principal
amount of such Indebtedness being extended, replaced, refunded, refinanced, renewed or defeased.

 

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Section 1.09.     
Letter of Credit Amounts. Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed
to be the stated amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter
of Credit that, by its terms or the terms of any Issuer Document related thereto, provides for one or more automatic increases in the
stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after
giving effect to all such increases, whether or not such maximum stated amount is in effect at such time. For all purposes of this Agreement,
if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by any reason
of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so
remaining available to be drawn.

 

Section 1.10.     
Certain Calculations.

 

(a)           
In the case of the incurrence of any Indebtedness (including any Incremental Term Facility (but for the avoidance of doubt, excluding
the incurrence of any Indebtedness under the Revolving Credit Facility) or Liens or the making of any Permitted Acquisitions or other
similar Investments, in each case, in connection with a Limited Condition Acquisition, at the Borrower’s option, the relevant ratios
and baskets shall be determined, and any Default or Event of Default shall be tested, as of the date the definitive acquisition agreements
for such Limited Condition Acquisition are entered into and calculated as if the acquisition and other pro forma events in connection
therewith were consummated on such date; provided that if the Borrower has made such an election, in connection with the calculation of
any ratio or basket with respect to the incurrence of any Indebtedness (including any Incremental Term Facilities) or Liens, or the making
of any Permitted Acquisitions or other similar Investments on or following such date and prior to the earlier of the date on which such
Limited Condition Acquisition is consummated or the definitive agreement for such Limited Condition Acquisition is terminated, any such
ratio shall be calculated on a Pro Forma Basis assuming such Limited Condition Acquisition and other pro forma events in connection therewith
(including any incurrence of Indebtedness and Liens) have been consummated.

 

(b)            The
increase in amounts secured by Liens by virtue of accrual of interest, the accretion of accreted value, the payment of interest or
dividends in the form of additional Indebtedness, amortization of original issue discount and increases in the amount of
Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies will not be deemed to be an
incurrence of Liens for purposes of Section 7.01.

 

(c)           
Notwithstanding anything to the contrary herein, with respect to any Indebtedness or Liens incurred in reliance on a provision
of this Agreement that does not require compliance with a financial ratio or test (including, without limitation, pro forma compliance
with any First Lien Net Leverage Ratio, Net Leverage Ratio or Consolidated Interest Coverage Ratio test) (any such amounts, the “Fixed
Amounts”) substantially concurrently with any Indebtedness or Lien incurred in reliance on a provision of this Agreement that
requires compliance with any such financial ratio or test (any such amounts, the “Incurrence Based Amounts”), it is
understood and agreed that in determining whether the incurrence of such Indebtedness or Lien is permitted under Section 7.01 or 7.03,
as applicable, the Fixed Amounts (and any cash proceeds thereof) (excluding, for the avoidance of doubt, Indebtedness resulting from borrowings
under the Revolving Credit Facility) which occur concurrently with the incurrence of the Incurrence Based Amounts shall in each case be
disregarded in the calculation of the financial ratio or test applicable to the Incurrence Based Amounts in connection with such substantially
concurrent incurrence, in each case, under Section 7.01 or Section 7.03.

 

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Section 1.11.     
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 comes 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.

 

Section 1.12.     
Interest Rates. The Administrative Agent does not warrant, nor accept responsibility, nor shall the Administrative Agent
have any liability with respect to the administration, submission or any other matter related to the rates in the definition of “Eurodollar
Rate” or with respect to any rate that is an alternative or replacement for or successor to any of such rate (including, without
limitation, any LIBOR Successor Rate) or the effect of any of the foregoing, or of any LIBOR Successor Rate Conforming Changes.

 

Article
2

The Commitments and Credit Extensions

 

Section 2.01.     
The Loans.

 

(a)           
The Term A Borrowings. Subject to the terms and conditions set forth herein, each Term A Lender severally agrees to make
to the Borrower a single loan denominated in Dollars in a principal amount equal to such Term A Lender’s Term A Commitment on the
Restatement Effective Date. Amounts borrowed under this ‎Section 2.01(a) and repaid
or prepaid may not be reborrowed. Term A Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.

 

(b)            The
Revolving Credit Borrowings. Subject to the terms and conditions set forth herein, each Revolving Credit Lender severally agrees
to make (or cause its Applicable Lending Office to make) loans denominated in Dollars (each such loan, a “Revolving Credit
Loan”) from time to time, on any Business Day on and after the Restatement Effective Date until the Maturity Date with
respect to the Revolving Credit Facility, in an aggregate principal amount not to exceed at any time outstanding the amount of such
Lender’s Revolving Credit Commitment; provided that after giving effect to any such Revolving Credit Borrowing, the
aggregate Outstanding Amount of the Revolving Credit Loans of any Lender, plus such Lender’s Pro Rata Share of the Outstanding
Amount of all L/C Obligations shall not exceed such Lender’s Revolving Credit Commitment. Within the limits of each
Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this ‎Section
2.01(b), prepay under ‎Section 2.05, and reborrow under this ‎Section
2.01(b). Revolving Credit Loans may be Base Rate Loans, Eurodollar Rate Loans or a LIBOR Daily Floating Rate Loan, as further
provided herein.

 

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Section 2.02.      Borrowings,
Conversions and Continuations of Loans. Each Term Borrowing, each Revolving Credit Borrowing, each conversion of Loans from one
Type to the other, and each continuation of Eurodollar Rate Loans shall be made upon the Borrower’s irrevocable notice to the
Administrative Agent, which may be given by (A) telephone or (B) a Committed Loan Notice; provided that any telephone notice must be
confirmed immediately by delivery to the Administrative Agent of a Committed Loan Notice. Each such Committed Loan Notice must be
received by the Administrative Agent not later than 11:00 a.m. (i) three (3) Business Days prior to the requested date of any
Borrowing or continuation of Eurodollar Rate Loans or any conversion of Base Rate Loans or LIBOR Daily Floating Rate Loans to
Eurocurrency Loans and (ii) on the requested date of any Borrowing of Base Rate Loans or LIBOR Daily Floating Rate Loan or any
conversion of Eurodollar Rate Loans to Base Rate Loans or a LIBOR Daily Floating Rate Loan. If the Borrower wishes to request
Eurodollar Rate Loans having an Interest Period other than one, three or six months in duration as provided in the definition of
 “Interest Period”, the Committed Loan Notice must be received by the Administrative Agent not later than 12:00
noon four Business Days prior to the requested date of such Borrowing, conversion or continuation of Eurodollar Rate Loans,
whereupon the Administrative Agent shall give prompt notice to the Appropriate Lenders of such request and determine whether the
requested Interest Period is acceptable to all of them. Not later than 12:00 noon, three Business Days before the requested date of
such Borrowing, conversion or continuation of Eurodollar Rate Loans, the Administrative Agent shall notify the Borrower (which
notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Lenders. Each Borrowing
of, conversion to or continuation of Eurodollar Rate Loans shall be in a principal amount of $500,000 or a whole multiple of
$100,000 in excess thereof. Except as provided in ‎Section 2.03(c), each Borrowing of or conversion to Base Rate Loans
shall be in a principal amount of $100,000 or a whole multiple of $100,000 in excess thereof. Each Committed Loan Notice shall
specify (i) whether the Borrower is requesting a Term Borrowing, a Revolving Credit Borrowing, a conversion of Loans from one Type
to the other, or a continuation of Eurodollar Rate Loans, (ii) the requested date of the Borrowing, conversion or continuation, as
the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv)
the Type of Loans to be borrowed or to which existing Loans are to be converted and (v) if applicable, the duration of the Interest
Period with respect thereto. If the Borrower fails to specify a Type of Loan in a Committed Loan Notice or fails to give a timely
notice requesting a conversion or continuation, then the applicable Loans shall be made as, or converted to, Base Rate Loans. Any
such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with
respect to the applicable Eurodollar Rate Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of
Eurodollar Rate Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have
specified an Interest Period of one (1) month. For the avoidance of doubt, the Borrower and Lenders acknowledge and agree that any
conversion or continuation of an existing Loan shall be deemed to be a continuation of that Loan with a converted interest rate
methodology and not a new Loan.

 

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(a)           
Following receipt of a Committed Loan Notice, the Administrative Agent shall promptly notify each Appropriate Lender of the amount
of its Pro Rata Share of the applicable Class of Loans, and if no timely notice of a conversion or continuation is provided by the Borrower,
the Administrative Agent shall notify each Appropriate Lender of the details of any automatic conversion to Base Rate Loans or continuation
described in ‎Section 2.02(a). In the case of each Borrowing, each Appropriate Lender
shall make (or cause its Applicable Lending Office to make) the amount of its Loan available to the Administrative Agent at the Administrative
Agent’s Office not later than 1:00 p.m. on the Business Day specified in the applicable Committed Loan Notice. Upon satisfaction
of the applicable conditions set forth in ‎Section 4.02 (and, if such Borrowing is the
initial Credit Extension, ‎Section 4.01), the Administrative Agent shall make all funds
so received available to the Borrower in like funds as received by the Administrative Agent either by (i) crediting the account of the
Borrower on the books of the Administrative Agent with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance
with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower; provided that if, on the
date the Committed Loan Notice with respect to such Borrowing is given by the Borrower, there are L/C Borrowings outstanding, then the
proceeds of such Borrowing shall be applied first, to the payment in full of any such L/C Borrowings and second, to the Borrower as provided
above.

 

(b)           
Except as otherwise provided herein, a Eurodollar Rate Loan may be continued or converted only on the last day of an Interest Period
for such Eurodollar Rate Loan unless the Borrower pays the amount due, if any, under ‎Section
3.05 in connection therewith. During the existence of an Event of Default, the Administrative Agent or the Required Lenders may require
that no Loans may be converted to or continued as Eurodollar Rate Loans without the consent of the Required Lenders.

 

(c)           
The Administrative Agent shall promptly notify the Borrower and the Lenders of the interest rate applicable to any Interest Period
for Eurodollar Rate Loans upon determination of such interest rate. The determination of the Eurodollar Rate by the Administrative Agent
shall be conclusive in the absence of manifest error.

 

(d)           
Anything in subsections ‎(a) to ‎(d)
above to the contrary notwithstanding, after giving effect to all Term Borrowings and Revolving Credit Borrowings, all conversions of
Term Loans and Revolving Credit Loans from one Type to the other, and all continuations of Term Loans and Revolving Credit Loans as the
same Type, there shall not be more than ten (10) Interest Periods in effect for Term Borrowings and Revolving Credit Borrowings.

 

(e)           
 Notwithstanding anything to the contrary in this Agreement, any Lender may exchange, continue or rollover all of the portion of
its Loans in connection with any refinancing, extension, loan modification or similar transaction permitted by the terms of this Agreement,
pursuant to a cashless settlement mechanism approved by the Borrower, the Administrative Agent and such Lender.

 

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Section 2.03.     
Letters of Credit.

 

(a)            
The Letter of Credit Commitments.

 

(i)           
Subject to the terms and conditions set forth herein, (1) each L/C Issuer agrees, in reliance upon the agreements of the other
Revolving Credit Lenders set forth in this ‎Section 2.03, (x) from time to time
on any Business Day during the period from the Restatement Effective Date until the Letter of Credit Expiration Date, to issue Letters
of Credit in Dollars for the account of the Borrower (provided that any Letter of Credit may be for the benefit of any Subsidiary
of the Borrower) and to amend or renew Letters of Credit previously issued by it, in accordance with ‎Section
2.03(b), and (y) to honor drawings under the Letters of Credit and (2) the Revolving Credit Lenders severally agree to participate in
Letters of Credit issued pursuant to this ‎Section 2.03; provided that
no L/C Issuer shall be obligated to make any L/C Credit Extension with respect to any Letter of Credit, and no Lender shall be obligated
to participate in any Letter of Credit if immediately after giving effect to such L/C Credit Extension, (x) the Revolving Credit Exposure
of any Lender would exceed such Lender’s Revolving Credit Commitment, or (y) the Outstanding Amount of the L/C Obligations would
exceed the Letter of Credit Sublimit. Each request by the Borrower for the issuance or amendment of a Letter of Credit shall be deemed
to be a representation by the Borrower that the L/C Credit Extension so requested complies with the conditions set forth in the proviso
to the preceding sentence. Within the foregoing limits, and subject to the terms and conditions hereof, the Borrower’s ability to
obtain Letters of Credit shall be fully revolving, and accordingly the Borrower may, during the foregoing period, obtain Letters of Credit
to replace Letters of Credit that have expired or that have been drawn upon and reimbursed. It is hereby acknowledged and agreed that
each of the letters of credit described in Schedule ‎2.03(a) (the “Existing
Letters of Credit”) shall constitute a “Letter of Credit” for all purposes of this Agreement and shall be
deemed issued under this Agreement on the Restatement Effective Date and shall be subject to and governed by the terms and conditions
of this Agreement.

 

(ii)           
An L/C Issuer shall not issue any Letter of Credit if:

 

(A)           
subject to ‎Section 2.03(b)(iii), the expiry date of the requested Letter of Credit
would occur more than twelve months after the date of issuance or last renewal, unless the Required Revolving Credit Lenders have approved
such expiry date; or

 

(B)            subject
to ‎Section 2.03(b)(iii), the expiry date of the requested Letter of Credit would occur
after the Letter of Credit Expiration Date, unless (x) all the Revolving Credit Lenders and such L/C Issuer have approved such
expiry date or (y) the Borrower has entered into arrangements reasonably satisfactory to the relevant L/C Issuer to Cash
Collateralize the Outstanding Amount of such L/C Obligations or backstop such Letter of Credit on the later of (I) the date of
issuance of such Letter of Credit and (II) the 7th day prior to the Letter of Credit Expiration Date).

 

(iii)           
An L/C Issuer shall not be under any obligation to issue any Letter of Credit if:

 

(A)           
any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain such
L/C Issuer from issuing the Letter of Credit, or any Law applicable to such L/C Issuer or any request or directive (whether or not having
the force of law) from any Governmental Authority with jurisdiction over such L/C Issuer shall prohibit, or request that such L/C Issuer
refrain from, the issuance of letters of credit generally or the Letter of Credit in particular or shall impose upon such L/C Issuer with
respect to the Letter of Credit any restriction, reserve or capital requirement (for which such L/C Issuer is not otherwise compensated
for hereunder) not in effect on the Closing Date, or shall impose upon such L/C Issuer any unreimbursed loss, cost or expense which was
not applicable on the Closing Date and which such L/C Issuer is not otherwise compensated for hereunder and in good faith deems material
to it;

 

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(B)           
the issuance of the Letter of Credit would violate one or more policies of such L/C Issuer applicable to letters of credit generally;

 

(C)           
except as otherwise agreed by the Administrative Agent and such L/C Issuer, the Letter of Credit is in an initial stated amount
less than $25,000;

 

(D)           
the Letter of Credit is to be denominated in a currency other than Dollars unless otherwise agreed by the Administrative Agent
and the L/C issuer;

 

(E)           
any Revolving Credit Lender is at that time a Defaulting Lender, unless such L/C Issuer has entered into arrangements, including
the delivery of Cash Collateral, with the Borrower or such Lender to eliminate the L/C Issuer’s Fronting Exposure (after giving
effect to ‎Section 2.16(a)(iv)) with respect to the Defaulting Lender arising from either the
Letter of Credit then proposed to be issued or that Letter of Credit and all other L/C Obligations as to which such L/C Issuer has Fronting
Exposure, as it may elect in its sole discretion; or

 

(F)           
the Letter of Credit contains any provisions for automatic reinstatement of the stated amount after any drawing thereunder.

 

(iv)           
An L/C Issuer shall be under no obligation to amend any Letter of Credit if (A) such L/C Issuer would have no obligation at such
time to issue the Letter of Credit in its amended form under the terms hereof, or (B) the beneficiary of the Letter of Credit does not
accept the proposed amendment to the Letter of Credit.

 

(v)           
 An L/C Issuer shall act on behalf of the Revolving Credit Lenders with respect to any Letters of Credit issued by it and the documents
associated therewith, and such L/C Issuer shall have all of the benefits and immunities (A) provided to the Administrative Agent in ‎Article
9 with respect to any acts taken or omissions suffered by such L/C Issuer in connection with Letters of Credit issued by it or proposed
to be issued by it and the Letter of Credit Application pertaining to such Letters of Credit as fully as if the term “Administrative
Agent” as used in ‎Article 9 included such L/C Issuer with respect
to such acts or omissions, and (B) as additionally provided herein with respect to such L/C Issuer.

 

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(b)           
Procedures for Issuance and Amendment of Letters of Credit; Auto Renewal Letters of Credit.

 

(i)           
Each Letter of Credit shall be issued or amended, as the case may be, upon the request of the Borrower delivered to an L/C Issuer
(with a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible
Officer of the Borrower. Such Letter of Credit Application must be received by the relevant L/C Issuer and the Administrative Agent not
later than 11:00 a.m. at least two (2) Business Days prior to the proposed issuance date or date of amendment, as the case may be; or,
in each case, such later date and time as the relevant L/C Issuer may agree in a particular instance in its sole discretion. In the case
of a request for an initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and detail reasonably
satisfactory to the relevant L/C Issuer: (a) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(b) the amount and currency thereof; (c) the expiry date thereof; (d) the name and address of the beneficiary thereof; (e) the documents
to be presented by such beneficiary in case of any drawing thereunder; (f) the full text of any certificate to be presented by such beneficiary
in case of any drawing thereunder; and (g) such other matters as the relevant L/C Issuer may reasonably request. In the case of a request
for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in form and detail reasonably satisfactory
to the relevant L/C Issuer (1) the Letter of Credit to be amended; (2) the proposed date of amendment thereof (which shall be a Business
Day); (3) the nature of the proposed amendment; and (4) such other matters as the relevant L/C Issuer may reasonably request.

 

(ii)            Promptly
after receipt of any Letter of Credit Application, the relevant L/C Issuer will confirm with the Administrative Agent (by telephone
or in writing) that the Administrative Agent has received a copy of such Letter of Credit Application from the Borrower and, if not,
such L/C Issuer will provide the Administrative Agent with a copy thereof. Unless the relevant L/C Issuer has received written
notice from the Administrative Agent, any Revolving Credit Lender or any Loan Party, at least one (1) Business Day prior to the
requested date of issuance or amendment of the applicable Letter of Credit, that one or more applicable conditions contained in ‎Article
4 shall not have been satisfied, then, subject to the terms and conditions hereof, such L/C Issuer shall, on the requested date,
issue a Letter of Credit for the account of the Borrower (and, if requested, on behalf of a Subsidiary) or enter into the applicable
amendment, as the case may be, in each case, in accordance with such L/C’s Issuer’s usual and customary business
policies. Immediately upon the issuance of each Letter of Credit, each Revolving Credit Lender shall be deemed to, and hereby
irrevocably and unconditionally agrees to, acquire from the relevant L/C Issuer a risk participation in such Letter of Credit in an
amount equal to the product of such Revolving Credit Lender’s Pro Rata Share times the amount of such Letter of Credit.

 

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(iii)           
If the Borrower so requests in any applicable Letter of Credit Application, the relevant L/C Issuer shall agree to issue a Letter
of Credit that has automatic renewal provisions (each, an “Auto-Renewal Letter of Credit”); provided that any
such Auto-Renewal Letter of Credit must permit the relevant L/C Issuer to prevent any such renewal at least once in each twelve-month
period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than
a day (the “Nonrenewal Notice Date”) in each such twelve-month period to be agreed upon at the time such Letter of
Credit is issued. Unless otherwise directed by the relevant L/C Issuer, the Borrower shall not be required to make a specific request
to the relevant L/C Issuer for any such renewal. Once an Auto-Renewal Letter of Credit has been issued, the applicable Lenders shall be
deemed to have authorized (but may not require) the relevant L/C Issuer to permit the renewal of such Letter of Credit at any time to
an expiry date not later than the Letter of Credit Expiration Date (unless the Borrower has entered into arrangements reasonably satisfactory
to the relevant L/C Issuer to Cash Collateralize the Outstanding Amount of such L/C Obligations or backstop such Letter of Credit on the
later of (I) the date of issuance of such Letter of Credit and (II) the 30th day prior to the Letter of Credit Expiration Date); provided
that the relevant L/C Issuer shall not permit any such renewal if (A) the relevant L/C Issuer has determined that it would not be permitted
or would have no obligation at such time to issue such Letter of Credit in its renewed form under the terms hereof (by reason of the provisions
of Sections ‎2.03(a)(ii) or ‎(iii)
or otherwise), or (B) it has received notice (which may be by telephone, followed promptly in writing, or in writing) on or before the
day that is seven (7) Business Days before the Nonrenewal Notice Date from the Administrative Agent or any Revolving Credit Lender, as
applicable, or the Borrower that one or more of the applicable conditions specified in ‎Section
4.02 is not then satisfied.

 

(iv)          Promptly after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with respect thereto
or to the beneficiary thereof, the relevant L/C Issuer will also deliver to the Borrower and the Administrative Agent a true and complete
copy of such Letter of Credit or amendment.

 

(c)           
Drawings and Reimbursements; Funding of Participations.

 

(i)            Upon
receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the relevant L/C Issuer
shall notify promptly the Borrower and the Administrative Agent thereof. On the Business Day immediately following the Business Day
on which the Borrower shall have received notice of any payment by an L/C Issuer under a Letter of Credit (or, if the Borrower shall
have received such notice later than 1:00 p.m. on any Business Day, on the second succeeding Business Day) (each such date, an
 “Honor Date”), the Borrower shall reimburse such L/C Issuer through the Administrative Agent in an amount equal
to the amount of such drawing by 1:00 p.m. on such Business Day. If the Borrower fails to so reimburse such L/C Issuer by such time,
the Administrative Agent shall promptly notify each Appropriate Lender of the Honor Date, the amount of the unreimbursed drawing
(the “Unreimbursed Amount”), and the amount of such Appropriate Lender’s Pro Rata Share thereof. In such
event, the Borrower shall be deemed to have requested a Revolving Credit Borrowing of Base Rate Loans to be disbursed on the Honor
Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in ‎Section
2.02 for the principal amount of Base Rate Loans but subject to the amount of the unutilized portion of the Revolving Credit
Commitments of the Appropriate Lenders, and subject to the conditions set forth in ‎Section
4.02(b). Any notice given by an L/C Issuer or the Administrative Agent pursuant to this ‎Section
2.03(c)(i) may be given by telephone if immediately confirmed in writing; provided that the lack of such an immediate
confirmation shall not affect the conclusiveness or binding effect of such notice.

 

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(ii)           
Each Revolving Credit Lender (including any such Lender acting as an L/C Issuer) shall upon any notice pursuant to ‎Section
2.03(c)(i) make funds available to the Administrative Agent for the account of the relevant L/C Issuer at the Administrative Agent’s
Office for payments in an amount equal to its Pro Rata Share of any Unreimbursed Amount in respect of a Letter of Credit not later than
1:00 p.m. on the Business Day specified in such notice by the Administrative Agent, whereupon, subject to the provisions of ‎Section
2.03(c)(iii), each Revolving Credit Lender that so makes funds available shall be deemed to have made a Base Rate Loan to the Borrower
in such amount. The Administrative Agent shall remit the funds so received to the relevant L/C Issuer.

 

(iii)           
With respect to any Unreimbursed Amount in respect of a Letter of Credit that is not fully refinanced by a Revolving Credit Borrowing
of Base Rate Loans because the conditions set forth in ‎Section 4.02 cannot be
satisfied or for any other reason, the Borrower shall be deemed to have incurred from the relevant L/C Issuer an L/C Borrowing in the
amount of the Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be due and payable on demand (together with interest)
and shall bear interest at the Default Rate. In such event, each Revolving Credit Lender’s payment to the Administrative Agent for
the account of the relevant L/C Issuer pursuant to ‎Section 2.03(c)(ii) shall
be deemed payment in respect of its participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender in satisfaction
of its participation obligation under this ‎Section 2.03.

 

(iv)           
Until each Revolving Credit Lender funds its Revolving Credit Loan or L/C Advance pursuant to this ‎Section
2.03(c) to reimburse the relevant L/C Issuer for any amount drawn under any Letter of Credit, interest in respect of such Lender’s
Pro Rata Share of such amount shall be solely for the account of the relevant L/C Issuer.

 

(v)            Each
Revolving Credit Lender’s obligation to make Revolving Credit Loans or L/C Advances to reimburse an L/C Issuer for amounts
drawn under Letters of Credit, as contemplated by this ‎Section 2.03(c),
shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff, counterclaim,
recoupment, defense or other right which such Lender may have against the relevant L/C Issuer, the Borrower or any other Person for
any reason whatsoever; (B) the occurrence or continuance of a Default; or (C) any other occurrence, event or condition, whether or
not similar to any of the foregoing; provided that each Revolving Credit Lender’s obligation to make Revolving Credit
Loans (but not L/C Advances) pursuant to this ‎Section 2.03(c) is subject
to the conditions set forth in ‎Section 4.02 (other than delivery by the
Borrower of a Committed Loan Notice). No such making of an L/C Advance shall relieve or otherwise impair the obligation of the
Borrower to reimburse the relevant L/C Issuer for the amount of any payment made by such L/C Issuer under any Letter of Credit,
together with interest as provided herein.

 

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(vi)          If any Revolving Credit Lender fails to make available to the Administrative Agent for the account of the relevant L/C Issuer any
amount required to be paid by such Lender pursuant to the foregoing provisions of this ‎Section
2.03(c) by the time specified in ‎Section 2.03(c)(ii), such L/C Issuer shall
be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the
period from the date such payment is required to the date on which such payment is immediately available to such L/C Issuer at a rate
per annum equal to the applicable Overnight Rate then in effect, plus any administrative, processing or similar fees customarily charged
by such L/C Issuer in connection with the foregoing. If such Lender pays such amount (with interest and fees as aforesaid), the amount
so paid shall constitute such Lender’s Loan included in the relevant Borrowing or L/C Advance in respect of the relevant L/C Borrowing,
as the case may be. A certificate of the relevant L/C Issuer submitted to any Revolving Credit Lender (through the Administrative Agent)
with respect to any amounts owing under this ‎Section 2.03(c)(vi) shall be conclusive
absent demonstrable error.

 

(d)           
Repayment of Participations.

 

(i)           
If, at any time after an L/C Issuer has made a payment under any Letter of Credit and has received from any Revolving Credit Lender
such Lender’s L/C Advance in respect of such payment in accordance with this ‎Section
2.03(d), the Administrative Agent receives for the account of such L/C Issuer any payment in respect of the related Unreimbursed Amount
or interest thereon (whether directly from the Borrower or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative
Agent), the Administrative Agent will distribute to each Revolving Credit Lender its Pro Rata Share thereof (appropriately adjusted, in
the case of interest payments, to reflect the period of time during which such Lender’s L/C Advance was outstanding) in the same
funds as those received by the Administrative Agent.

 

(ii)            If
any payment received by the Administrative Agent for the account of an L/C Issuer pursuant to ‎Section
2.03(d)(i) is required to be returned under any of the circumstances described in ‎Section
10.06 (including pursuant to any settlement entered into by such L/C Issuer in its discretion), each Revolving Credit Lender shall
pay to the Administrative Agent for the account of such L/C Issuer its Pro Rata Share thereof on demand of the Administrative Agent,
plus interest thereon from the date of such demand to the date such amount is returned by such Lender, at a rate per annum equal to
the applicable Overnight Rate. The obligations of the Revolving Credit Lenders under this clause shall survive the payment in full
of the Obligations and the termination of this Agreement.

 

(e)           
Obligations Absolute. The obligation of the Borrower to reimburse the relevant L/C Issuer for each drawing under each Letter
of Credit issued by it and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in
accordance with the terms of this Agreement under all circumstances, including the following:

 

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(i)           
any lack of validity or enforceability of such Letter of Credit, this Agreement, any Loan Document or any other agreement or instrument
relating to any of the foregoing;

 

(ii)           
the existence of any claim, counterclaim, setoff, defense or other right that the Borrower or any Subsidiary may have at any time
against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee
may be acting), the relevant L/C Issuer or any other Person, whether in connection with this Agreement, the transactions contemplated
hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction;

 

(iii)           
any draft, demand, certificate or other document presented under such Letter of Credit proving to be forged, fraudulent, invalid
or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission
or otherwise of any document required in order to make a drawing under such Letter of Credit;

 

(iv)           
waiver by the L/C Issuer of any requirement that exists for the L/C Issuer’s protection and not the protection of the Borrower
or any waiver by the L/C Issuer which does not in fact materially prejudice the Borrower;

 

(v)           
any payment by the relevant L/C Issuer under such Letter of Credit against presentation of a draft or certificate that does not
strictly comply with the terms of such Letter of Credit; or any payment made by the relevant L/C Issuer under such Letter of Credit to
any Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver
or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection
with any proceeding under any Debtor Relief Law;

 

(vi)           
any exchange, release or nonperfection of any Collateral, or any release or amendment or waiver of or consent to departure from
the Guaranty or any other guaranty, for all or any of the Obligations of any Loan Party in respect of such Letter of Credit; or

 

(vii)           
any other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other circumstance
that might otherwise constitute a defense available to, or a discharge of, the Borrower or any Subsidiary;

 

provided that the foregoing shall not
excuse any L/C Issuer from liability to the Borrower to the extent of any direct damages (as opposed to consequential damages,
claims in respect of which are waived by the Borrower to the extent permitted by applicable Law) suffered by the Borrower that are
caused by such L/C Issuer’s gross negligence or willful misconduct (as determined by a court of competent jurisdiction in a
final non-appealable decision) when determining whether drafts and other documents presented under a Letter of Credit comply with
the terms thereof. The Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered
to it and, in the event of any claim of noncompliance with the Borrower’s instructions or other irregularity, the Borrower
will promptly notify the applicable L/C Issuer. The Borrower shall be conclusively deemed to have waived any such claim against the
relevant L/C Issuer and its correspondents unless such notice is given as aforesaid.

 

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(f)            
Role of L/C Issuers. Each Lender and the Borrower agree that, in paying any drawing under a Letter of Credit, the relevant
L/C Issuer shall not have any responsibility to obtain any document (other than any sight draft, certificates and documents expressly
required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of the
Person executing or delivering any such document. None of the L/C Issuers, the Agents, any of their respective Related Parties, nor any
of the respective correspondents, participants or assignees of any L/C Issuer shall be liable to any Lender for (i) any action taken or
omitted in connection herewith at the request or with the approval of the Required Lenders or the Required Revolving Credit Lenders, as
applicable; (ii) any action taken or omitted in the absence of gross negligence or willful misconduct (as determined by a court of competent
jurisdiction in a final non-appealable decision); or (iii) the due execution, effectiveness, validity or enforceability of any document
or instrument related to any Letter of Credit or Letter of Credit Application. The Borrower hereby assumes all risks of the acts or omissions
of any beneficiary or transferee with respect to its use of any Letter of Credit; provided that this assumption is not intended
to, and shall not, preclude the Borrower’s pursuing such rights and remedies as it may have against the beneficiary or transferee
at law or under any other agreement. None of the L/C Issuers, the Agents, any of their respective Related Parties, nor any of the respective
correspondents, participants or assignees of any L/C Issuer, shall be liable or responsible for any of the matters described in clauses
(i) through (vii) of ‎Section 2.03(e); provided that anything in such clauses
to the contrary notwithstanding, the Borrower may have a claim against an L/C Issuer, and such L/C Issuer may be liable to the Borrower,
to the extent, but only to the extent, of any direct, as opposed to consequential or exemplary, damages suffered by the Borrower caused
by such L/C Issuer’s willful misconduct or gross negligence or such L/C Issuer’s willful or grossly negligent failure to pay
under any Letter of Credit after the presentation to it by the beneficiary of a sight draft and certificate(s) strictly complying with
the terms and conditions of a Letter of Credit (in each case as determined by a court of competent jurisdiction in a final non-appealable
decision). In furtherance and not in limitation of the foregoing, each L/C Issuer may accept documents that appear on their face to be
in order, without responsibility for further investigation, regardless of any notice or information to the contrary, and no L/C Issuer
shall be responsible for the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign a
Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective
for any reason. The L/C Issuer may send a Letter of Credit or conduct any communication to or from the beneficiary via the Society for
Worldwide Interbank Financial Telecommunication (“SWIFT”) message or overnight courier, or any other commercially reasonable
means of communicating with a beneficiary.

 

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(g)           
 Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Lender
in accordance with its Pro Rata Share, a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit
issued pursuant to this Agreement equal to the product of (i) Applicable Rate for Letter of Credit Fees and (ii) the daily maximum amount
then available to be drawn under such Letter of Credit; provided, however, any Letter of Credit Fees otherwise payable for the
account of a Defaulting Lender with respect to any Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral
satisfactory to the relevant L/C Issuer pursuant to ‎Section 2.17 shall be payable,
to the maximum extent permitted by applicable Law, to the other Lenders in accordance with the upward adjustments in their respective
Pro Rata Share allocable to such Letter of Credit pursuant to ‎Section 2.16(a)(iv),
with the balance of such fee, if any, payable to such L/C Issuer for its own account. Such Letter of Credit Fee shall be computed on a
quarterly basis in arrears. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of
such Letter of Credit shall be determined in accordance with ‎Section 1.09. Such Letter
of Credit Fee shall be due and payable on the first Business Day after the end of each March, June, September and December, commencing
with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter
on demand. If there is any change in the Applicable Rate during any quarter, the daily maximum amount of each Letter of Credit shall be
computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

 

(h)           
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuers. The Borrower shall pay directly to each L/C
Issuer for its own account, a fronting fee (a “Fronting Fee”) with respect to each Letter of Credit issued by it equal
to 0.125% per annum of the daily maximum amount then available to be drawn under such Letter of Credit. For purposes of computing the
daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with
‎Section 1.09. Such fronting fees shall be computed on a quarterly basis in arrears.
Such fronting fees shall be due and payable on the first Business Day after the end of each March, June, September and December, commencing
with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter
on demand. In addition, the Borrower shall pay directly to each L/C Issuer for its own account the customary issuance, presentation, amendment
and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time
in effect. Such customary fees and standard costs and charges are due and payable within ten (10) Business Days of demand and are nonrefundable.

 

(i)            
Conflict with Letter of Credit Application. Notwithstanding anything else to the contrary in any Letter of Credit Application,
in the event of any conflict between the terms hereof and the terms of any Letter of Credit Application, the terms hereof shall control.

 

(j)            
Addition of an L/C Issuer. A Revolving Credit Lender (or any of its Subsidiaries or affiliates) may become an additional
L/C Issuer hereunder pursuant to a written agreement among the Borrower, the Administrative Agent and such Revolving Credit Lender. The
Administrative Agent shall notify the Revolving Credit Lenders of any such additional L/C Issuer.

 

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(k)           
 Provisions Related to Extended Revolving Credit Commitments. If the maturity date in respect of any tranche of Revolving
Credit Commitments occurs prior to the expiration of any Letter of Credit, then (i) if one or more other tranches of Revolving Credit
Commitments in respect of which the maturity date shall not have occurred are then in effect, such Letters of Credit shall automatically
be deemed to have been issued (including for purposes of the obligations of the Revolving Credit Lenders to purchase participations therein
and to make Revolving Credit Loans and payments in respect thereof pursuant to ‎Section
2.03(d)) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments in respect of such non-terminating
tranches up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving Credit Commitments thereunder
at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (ii) to the extent not
reallocated pursuant to immediately preceding clause ‎(i), the Borrower shall Cash Collateralize
any such Letter of Credit in accordance with ‎Section 2.17. If, for any reason, such
Cash Collateral is not provided or the reallocation does not occur, the Revolving Credit Lenders under the maturing tranche shall continue
to be responsible for their participating interests in the Letters of Credit. Except to the extent of reallocations of participations
pursuant to clause ‎(i) of the second preceding sentence, the occurrence of a maturity
date with respect to a given tranche of Revolving Credit Commitments shall have no effect upon (and shall not diminish) the percentage
participations of the Revolving Credit Lenders in any Letter of Credit issued before such maturity date. Commencing with the maturity
date of any tranche of Revolving Credit Commitments, the sublimit for Letters of Credit shall be agreed with the Lenders under the extended
tranches.

 

(l)            
Applicability of ISP and UCP. Unless otherwise expressly agreed by the L/C Issuer and the Borrower when a Letter of Credit
is issued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby
Letter of Credit, and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. Notwithstanding the foregoing, the L/C
Issuer shall not be responsible to the Borrower for, and the L/C Issuer’s rights and remedies against the Borrower shall not be
impaired by, any action or inaction of the L/C Issuer required or permitted under any law, order, or practice that is required or permitted
to be applied to any Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where the L/C Issuer or the
beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official
commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade – International Financial Services Association
(BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.

 

(m)            
Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in
support of any obligations of, or is for the account of, a Subsidiary, the Borrower shall be obligated to reimburse the applicable L/C
Issuer hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of
Credit for the account of Subsidiaries inures to the benefit of the Borrower, and that the Borrower’s business derives substantial
benefits from the businesses of such Subsidiaries.

 

Section 2.04.     
[Reserved].

 

Section 2.05.     
Prepayments.

 

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(a)           
Optional Prepayments. (i) The Borrower may, upon notice to the Administrative Agent (including in any form on an electronic
platform or electronic transmission system as shall be approved by the Administrative Agent), at any time or from time to time voluntarily
prepay Term Loans and Revolving Credit Loans in whole or in part without premium or penalty (except as set forth below); provided
that (1) such notice must be received by the Administrative Agent not later than 11:00 a.m. (A) three (3) Business Days’ prior to
any date of prepayment of Eurodollar Rate Loans, and (B) on the date of prepayment of Base Rate Loans or LIBOR Daily Floating Rate Loans;
(2) any prepayment of Eurodollar Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof;
and (3) any prepayment of Base Rate Loans or LIBOR Daily Floating Rate Loans shall be in a principal amount of $100,000 or a whole multiple
of $100,000 in excess thereof or, in each case, the entire principal amount thereof then outstanding. Each such notice shall specify the
date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid; provided that such prepayment and notice may
be conditioned on the consummation of a financing or other transaction or any other event. The Administrative Agent will promptly notify
each Appropriate Lender of its receipt of each such notice, and of the amount of such Lender’s Pro Rata Share of such prepayment.
If such notice is given by the Borrower, unless such notice is conditional, the Borrower shall make such prepayment and the payment amount
specified in such notice shall be due and payable on the date specified therein. Any prepayment of a Eurodollar Rate Loan shall be accompanied
by all accrued interest thereon, together with any additional amounts required pursuant to ‎Section
3.05. Each prepayment of Term Loans pursuant to this ‎Section 2.05(a) shall be applied
to the installments thereof as directed by the Borrower (it being understood and agreed that if the Borrower does not so direct at the
time of such prepayment, such prepayment shall be applied against the scheduled repayments of Term Loans of the relevant class under Sections
‎2.07(a) and ‎(b) in direct order
of maturity) and shall be paid to the Appropriate Lenders in accordance with their respective Pro Rata Shares.

 

(ii)           
Notwithstanding anything to the contrary contained in this Agreement, the Borrower may rescind any notice of prepayment under ‎Section
2.05(a) if such prepayment would have resulted from a refinancing of all of the Facilities, which refinancing shall not be consummated
or shall otherwise be delayed.

 

(b)           
Mandatory Prepayments.

 

(i)           
[Reserved].

 

(ii)            (A)
Subject to ‎Section 2.05(b)(ii)(B), if (x) the Borrower or any Restricted
Subsidiary Disposes of any property or assets (other than any Disposition of any property or assets permitted by ‎Section
7.05(a), ‎(b), ‎(c), ‎(d), ‎(e), ‎(f), ‎(g), ‎(j), ‎(k), ‎(n), ‎(o)
or ‎(p)), or (y) any Casualty Event occurs, which in the aggregate results
in the realization or receipt by the Borrower or such Restricted Subsidiary of Net Cash Proceeds, the Borrower shall make a
prepayment, in accordance with ‎Section 2.05(b)(ii)(C), of an aggregate
principal amount of Term Loans equal to 100% of all such Net Cash Proceeds realized or received; provided that no such
prepayment shall be required pursuant to this ‎Section 2.05(b)(ii)(A) with
respect to such portion of such Net Cash Proceeds that the Borrower shall have, on or prior to such date, given written notice to
the Administrative Agent of its intent to reinvest in accordance with ‎Section
2.05(b)(ii)(B) (which notice may only be provided if no Event of Default has occurred and is then continuing).

 

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(B)           
With respect to any Net Cash Proceeds realized or received with respect to any Disposition (other than any Disposition specifically
excluded from the application of ‎Section 2.05(b)(ii)(A)) or any Casualty Event, at the option
of the Borrower, the Borrower may reinvest all or any portion of such Net Cash Proceeds in assets useful for its business (other than
working capital), including acquisitions permitted under ‎Section 7.02, within the later of
(x) twelve (12) months following receipt of such Net Cash Proceeds or (y) if the Borrower enters into a legally binding commitment to
reinvest such Net Cash Proceeds within twelve (12) months following receipt thereof, one hundred and eighty (180) days after the twelve
month period following receipt of such Net Cash Proceeds; provided that (i) so long as an Event of Default shall have occurred
and be continuing, the Borrower shall not be permitted to make any such reinvestments (other than pursuant to a legally binding commitment
that the Borrower entered into at a time when no Event of Default is continuing) and (ii) if any Net Cash Proceeds are not so reinvested
by the deadline specified in clause (x) or (y) above, as applicable, or if any such Net Cash Proceeds are no longer intended to be or
cannot be so reinvested at any time after delivery of a Notice of Reinvestment Election, an amount equal to 100% of such Net Cash Proceeds
shall be applied, in accordance with ‎Section 2.05(b)(ii)(C), to the prepayment of the Term
Loans as set forth in this ‎Section 2.05.

 

(C)           
On each occasion that the Borrower must make a prepayment of the Term Loans pursuant to this ‎Section
2.05(b)(ii), the Borrower shall, within five (5) Business Days after the date of realization or receipt of such Net Cash Proceeds (or,
in the case of prepayments required pursuant to ‎Section 2.05(b)(ii)(B), within five (5) Business
Days of the deadline specified in clause (x) or (y) thereof, as applicable, or of the date the Borrower reasonably determines that such
Net Cash Proceeds are no longer intended to be or cannot be so reinvested, as the case may be), make a prepayment, in accordance with
‎Section 2.05(b)(v) below, of the principal amount of Term Loans in an amount equal to 100%
of such Net Cash Proceeds realized or received.

 

(iii)           
If the Borrower or any Restricted Subsidiary incurs or issues any (x) Refinancing Term Loans, (y) Indebtedness pursuant to ‎Section
7.03(x)(i) or ‎(z) Indebtedness not expressly permitted to be incurred or issued
pursuant to ‎Section 7.03, the Borrower shall (a) designate such Term Loans to
be prepaid (other than in the case of a prepayment pursuant to clause (z)) and (b) cause to be prepaid an aggregate principal amount of
Term Loans equal to 100% of all Net Cash Proceeds received therefrom on or prior to the date which is five (5) Business Days after the
receipt of such Net Cash Proceeds. If the Borrower obtains any Refinancing Revolving Commitments, the Borrower shall, concurrently with
the receipt thereof, terminate Revolving Credit Commitments in an equivalent amount pursuant to ‎Section
2.06.

 

(iv)           
 (X) Each prepayment of any Term Loans being prepaid pursuant to this ‎Section
2.05(b) shall be applied, to the installments thereof pro rata in direct order of maturity for the remaining scheduled payments pursuant
to ‎Section 2.07(b) following the applicable prepayment event; (Y) each such
prepayment (other than any prepayment pursuant to ‎Section 2.05(b)(iii)(x) or
(y)) shall be applied to Term A Loans on a pro rata basis and each prepayment pursuant to ‎Section
2.05(b)(iii)(x) or (y) shall be applied as directed by the Borrower; and (Z) each such prepayment shall be paid to the Lenders receiving
such prepayment in accordance with their respective Pro Rata Shares subject to clause ‎(v)
of this ‎Section 2.05(b).

 

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(v)           
The Borrower shall notify the Administrative Agent (including in any form on an electronic platform or electronic transmission
system as shall be approved by the Administrative Agent) in writing of any mandatory prepayment of Term Loans required to be made pursuant
to clauses ‎(i), ‎(ii),
and ‎(iii) of this ‎Section
2.05(b) at least five (5) Business Days prior to 1:00 p.m. on the date of such prepayment. Each such notice shall specify the date of
such prepayment and provide a reasonably detailed calculation of the amount of such prepayment. The Administrative Agent will promptly
notify each Appropriate Lender of the contents of the Borrower’s prepayment notice and of such Appropriate Lender’s Pro Rata
Share of the prepayment. Each Appropriate Lender may reject all or a portion of its Pro Rata Share of any mandatory prepayment of (such
declined proceed amounts, the “Declined Proceeds”) any Term A Loans required to be paid pursuant to clause (ii) of
this Section 2.05(b) by providing written notice (each, a “Rejection Notice”) to the Administrative Agent and the Borrower
no later than 5.00 p.m. three (3) Business Days after the date of such Lender’s receipt of notice from the Administrative Agent
regarding such prepayment. Each Rejection Notice from a given Lender shall specify the principal amount of the mandatory prepayment of
Term A Loans to be rejected by such Lender. If a Lender fails to deliver a Rejection Notice to the Administrative Agent within the time
frame specified above or such Rejection Notice fails to specify the principal amount of the Term Loans to be rejected, any such failure
will be deemed an acceptance of the total amount of such mandatory repayment of Term A Loans. Any Declined Proceeds shall be retained
by the Borrower.

 

(vi)           
Notwithstanding any other provisions of this ‎Section 2.05(b),

 

(A)            to
the extent that any of or all the Net Cash Proceeds of any Disposition by a Foreign Subsidiary giving rise to a prepayment pursuant
to ‎Section 2.05(b)(ii) (a “Foreign Disposition”) or the Net Cash
Proceeds of any Casualty Event from a Foreign Subsidiary (a “Foreign Casualty Event”) is prohibited or delayed by
applicable local law from being repatriated to the United States, the portion of such Net Cash Proceeds so affected will not be
required to be applied to repay Term Loans at the time provided in ‎Section 2.05(b)(ii).
Instead, such amounts may be retained by the applicable Foreign Subsidiary (the Borrower hereby agreeing to cause the applicable
Foreign Subsidiary to promptly take all commercially reasonable actions required by the applicable local law to permit such
repatriation), and provided that to the extent such repatriation of any of such affected Net Cash Proceeds is permitted under the
applicable local law within one year after receipt of such Net Cash Proceeds, such repatriation will be promptly effected and such
repatriated Net Cash Proceeds will be promptly (and in any event not later than three (3) Business Days after such repatriation)
applied (net of costs, expenses or additional taxes payable or reserved against as a result thereof) to the repayment of the Term
Loans pursuant to this ‎Section 2.05(b) to the extent provided herein, and

 

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(B)           
to the extent that the Borrower has determined in good faith that repatriation of any of or all the Net Cash Proceeds of any Foreign
Disposition or any Foreign Casualty Event would have any adverse tax cost consequence with respect to such Net Cash Proceeds, the Net
Cash Proceeds so affected may be retained by the applicable Foreign Subsidiary.

 

(vii)           
If for any reason the Total Revolving Outstandings at any time exceed the aggregate Revolving Credit Commitments then in effect,
the Borrower shall immediately prepay Revolving Credit Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal
to such excess; provided, however, that the Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant
to this ‎Section 2.05(b)(vii)‎
unless, after the prepayment in full of the Revolving Credit Loans, the Total Revolving Outstandings exceed the aggregate Revolving Credit
Commitments then in effect. All amounts required to be paid pursuant to this ‎Section
2.05(b)(vii) shall be applied first, ratably to the L/C Borrowings, second, ratably to the outstanding Revolving Credit
Loans, and third, to Cash Collateralize the remaining L/C Obligations. Within the parameters of the applications set forth in the
foregoing sentence, such prepayments shall be applied first to LIBOR Daily Floating Rate Loans, next to Base Rate Loans and then to Eurodollar
Rate Loans in direct order of Interest Period maturities. No prepayment under this ‎Section
2.05(b)(vii) shall result in a mandatory reduction of Revolving Credit Commitments.

 

(c)           
Interest, Funding Losses, etc. All prepayments under this ‎Section 2.05
shall be accompanied by all accrued interest thereon, together with, in the case of any such prepayment of a Eurodollar Rate Loan on a
date other than the last day of an Interest Period therefor, any amounts owing in respect of such Eurodollar Rate Loan pursuant to ‎Section
3.05.

 

Notwithstanding any of the other provisions of
this ‎Section 2.05, so long as no Event of Default shall have occurred
and be continuing, if any prepayment of Eurodollar Rate Loans is required to be made under this ‎Section
2.05, prior to the last day of the Interest Period therefor, in lieu of making any payment pursuant to this ‎Section
2.05 in respect of any such Eurodollar Rate Loan prior to the last day of the Interest Period therefor, the Borrower may, in its sole
discretion, deposit with the Administrative Agent the amount of any such prepayment otherwise required to be made hereunder until the
last day of such Interest Period, at which time the Administrative Agent shall be authorized (without any further action by or notice
to or from the Borrower or any other Loan Party) to apply such amount to the prepayment of such Loans in accordance with this ‎Section
2.05. Such deposit shall constitute cash collateral for the Eurodollar Rate Loans to be so prepaid; provided that the Borrower
may at any time direct that such deposit be applied to make the applicable payment required pursuant to this ‎Section
2.05.

 

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(d)           
 Discounted Voluntary Prepayments.

 

(i)           
Notwithstanding anything to the contrary set forth in this Agreement (including ‎Section
2.13) or any other Loan Document, the Borrower shall have the right at any time and from time to time to prepay one or more Classes of
Term Loans to the Lenders thereof at a discount to the par value of such Loans and on a non pro rata basis (each, a “Discounted
Voluntary Prepayment”) pursuant to the procedures described in this ‎Section
2.05(d); provided that (A) no proceeds from Revolving Credit Loans shall be used to consummate any such Discounted Voluntary Prepayment,
(B) Discounted Voluntary Prepayments may be made by the Borrower on a non-pro rata basis through (i) open market purchases (provided that
any Loans acquired by or on behalf of the Borrower through any open market purchase shall be cancelled immediately after such purchase)
and (ii) Dutch auction (by retaining an Auction Agent) or similar procedures that shall be offered to all Term Lenders on a pro rata basis
with customary procedures to be agreed and subject to customary restrictions to be agreed, (C) no Default or Event of Default shall have
occurred and be continuing or would result from such Discounted Voluntary Prepayment, and (D) the Borrower shall deliver to the Administrative
Agent, together with each Discounted Prepayment Option Notice, a certificate of a Responsible Officer of the Borrower (1) stating that
the condition to such Discounted Voluntary Prepayment contained in ‎Section 2.05(d)(i)
has been satisfied, and (2) specifying the aggregate principal amount of Term Loans of any Class to be prepaid pursuant to such Discounted
Voluntary Prepayment.

 

(ii)           
To the extent the Borrower seeks to make a Discounted Voluntary Prepayment, the Borrower will provide written notice to the Administrative
Agent substantially in the form of Exhibit K hereto (each, a “Discounted Prepayment Option Notice”) that the Borrower
desires to prepay Term Loans of one or more specified Classes in an aggregate principal amount specified therein by the Borrower (each,
a “Proposed Discounted Prepayment Amount”), in each case at a discount to the par value of such Loans as specified
below. The Proposed Discounted Prepayment Amount of any Loans shall not be less than $10,000,000. The Discounted Prepayment Option Notice
shall further specify with respect to the proposed Discounted Voluntary Prepayment (A) the Proposed Discounted Prepayment Amount for Loans
to be prepaid, (B) a discount range (which may be a single percentage) selected by the Borrower with respect to such proposed Discounted
Voluntary Prepayment equal to a percentage of par of the principal amount of the Loans to be prepaid (the “Discount Range”),
and (C) the date by which Lenders are required to indicate their election to participate in such proposed Discounted Voluntary Prepayment,
which shall be at least five Business Days following the date of the Discounted Prepayment Option Notice (the “Acceptance Date”).

 

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(iii)            Upon
receipt of a Discounted Prepayment Option Notice, the Administrative Agent shall promptly notify each applicable Lender thereof. On
or prior to the Acceptance Date, each such Lender may specify by written notice substantially in the form of Exhibit L hereto (each,
a “Lender Participation Notice”) to the Administrative Agent (A) a maximum discount to par (the
 “Acceptable Discount”) within the Discount Range (for example, a Lender specifying a discount to par of 20% would
accept a purchase price of 80% of the par value of the Loans to be prepaid) and (B) a maximum principal amount (subject to rounding
requirements specified by the Administrative Agent) of the Loans to be prepaid held by such Lender with respect to which such Lender
is willing to permit a Discounted Voluntary Prepayment at the Acceptable Discount (“Offered Loans”). Based on the
Acceptable Discounts and principal amounts of the Loans to be prepaid specified by the Lenders in the applicable Lender
Participation Notice, the Administrative Agent, in consultation with the Borrower, shall determine the applicable discount for such
Loans to be prepaid (the “Applicable Discount”), which Applicable Discount shall be (A) the percentage specified
by the Borrower if the Borrower has selected a single percentage pursuant to ‎Section
2.05(d)(ii)) for the Discounted Voluntary Prepayment or (B) otherwise, the highest Acceptable Discount at which the Borrower can pay
the Proposed Discounted Prepayment Amount in full (determined by adding the principal amounts of Offered Loans commencing with the
Offered Loans with the highest Acceptable Discount); provided, however, that in the event that such Proposed
Discounted Prepayment Amount cannot be repaid in full at any Acceptable Discount, the Applicable Discount shall be the lowest
Acceptable Discount specified by the Lenders that is within the Discount Range. The Applicable Discount shall be applicable for all
Lenders who have offered to participate in the Discounted Voluntary Prepayment and have Qualifying Loans. Any Lender with
outstanding Loans to be prepaid whose Lender Participation Notice is not received by the Administrative Agent by the Acceptance Date
shall be deemed to have declined to accept a Discounted Voluntary Prepayment of any of its Loans at any discount to their par value
within the Applicable Discount.

 

(iv)           
The Borrower shall make a Discounted Voluntary Prepayment by prepaying those Loans to be prepaid (or the respective portions thereof)
offered by the Lenders (“Qualifying Lenders”) that specify an Acceptable Discount that is equal to or greater than
the Applicable Discount (“Qualifying Loans”) at the Applicable Discount; provided that if the aggregate proceeds
required to prepay all Qualifying Loans (disregarding any interest payable at such time) would exceed the amount of aggregate proceeds
required to prepay the Proposed Discounted Prepayment Amount, such amounts in each case calculated by applying the Applicable Discount,
the Borrower shall prepay such Qualifying Loans ratably among the Qualifying Lenders based on their respective principal amounts of such
Qualifying Loans (subject to rounding requirements specified by the Administrative Agent). If the aggregate proceeds required to prepay
all Qualifying Loans (disregarding any interest payable at such time) would be less than the amount of aggregate proceeds required to
prepay the Proposed Discounted Prepayment Amount, such amounts in each case calculated by applying the Applicable Discount, the Borrower
shall prepay all Qualifying Loans.

 

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(v)            Subject
to the satisfaction of the conditions in ‎Section 2.05(d)(i), each
Discounted Voluntary Prepayment shall be made within five (5) Business Days of the Acceptance Date (or such later date as the
Administrative Agent shall reasonably agree, given the time required to calculate the Applicable Discount and determine the amount
and holders of Qualifying Loans), without premium or penalty (but subject to ‎Section
3.05), upon irrevocable notice substantially in the form of Exhibit M hereto (each a “Discounted Voluntary Prepayment
Notice”), delivered to the Administrative Agent no later than 1:00 p.m., three (3) Business Days prior to the date of such
Discounted Voluntary Prepayment, which notice shall specify the date and amount of the Discounted Voluntary Prepayment and the
Applicable Discount determined by the Administrative Agent. Upon receipt of any Discounted Voluntary Prepayment Notice, the
Administrative Agent shall promptly notify each relevant Lender thereof. If any Discounted Voluntary Prepayment Notice is given, the
amount specified in such notice shall be due and payable to the applicable Lenders, subject to the Applicable Discount on the
applicable Loans, on the date specified therein together with accrued interest (on the par principal amount) to but not including
such date on the amount prepaid. Upon consummation of each Discounted Voluntary Prepayment, any such Term Loans so prepaid shall be
immediately cancelled and the par principal amount of such Term Loans so prepaid shall be applied ratably to reduce the remaining
installments of such Class of Term Loans (as applicable).

 

(vi)           
To the extent not expressly provided for herein, each Discounted Voluntary Prepayment shall be consummated pursuant to customary
procedures (including as to timing, rounding, minimum amounts, Type and Interest Periods and calculation of Applicable Discount in accordance
with ‎Section 2.05(d)(iii) above) established by the Borrower and the relevant
Lenders at the time of such Discounted Voluntary Prepayment.

 

(vii)           
Prior to the delivery of a Discounted Voluntary Prepayment Notice, (A) upon written notice to the Administrative Agent, the Borrower
may withdraw or modify its offer to make a Discounted Voluntary Prepayment pursuant to any Discounted Prepayment Option Notice and (B)
no Lender may withdraw its offer to participate in a Discounted Voluntary Prepayment pursuant to any Lender Participation Notice unless
the terms of such proposed Discounted Voluntary Prepayment have been modified by the Borrower after the date of such Lender Participation
Notice.

 

(viii)           
Nothing in this ‎Section 2.05(d) shall require the Borrower to undertake
any Discounted Voluntary Prepayment.

 

Section 2.06.     
Termination or Reduction of Commitments.

 

(a)           
Optional. The Borrower may, upon written notice to the Administrative Agent, terminate the unused Commitments of any Class,
or from time to time permanently reduce the unused Commitments of any Class; provided that (i) any such notice shall be received
by the Administrative Agent three (3) Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall
be in an aggregate amount of $1,000,000 or any whole multiple of $100,000 in excess thereof and (iii) if, after giving effect to any reduction
of the Commitments, the Letter of Credit Sublimit exceeds the amount of the Revolving Credit Facility, such sublimit shall be automatically
reduced by the amount of such excess. The amount of any such Commitment reduction shall not be applied to the Letter of Credit Sublimit
unless otherwise specified by the Borrower. Notwithstanding the foregoing, the Borrower may rescind or postpone any notice of termination
of the Commitments if such termination would have resulted from a refinancing of all of the Facilities, which refinancing shall not be
consummated or otherwise shall be delayed.

 

(b)           
 Mandatory. The Term A Commitment of each Term A Lender shall be automatically and permanently reduced to $0 upon the making
of such Term A Lender’s Term Loans pursuant to ‎Section 2.01(a). The Revolving
Credit Commitments (other than any Extended Revolving Credit Commitments) shall terminate on the applicable Maturity Date. The Extended
Revolving Credit Commitments and any Incremental Revolving Credit Commitments shall terminate on the respective maturity dates applicable
thereto.

 

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(c)           
Application of Commitment Reductions; Payment of Fees. The Administrative Agent will promptly notify the Lenders of any
termination or reduction of unused portions of the Letter of Credit Sublimit or the unused Commitments of any Class under this ‎Section
2.06. Upon any reduction of unused Commitments of any Class, the Commitment of each Lender of such Class shall be reduced by such Lender’s
Pro Rata Share of the amount by which such Commitments are reduced (other than the termination of the Commitment of any Lender as provided
in ‎Section 3.07). All Commitment Fees accrued until the effective date of any termination
of the Revolving Credit Commitments shall be paid on the effective date of such termination.

 

Section 2.07.     
Repayment of Loans.

 

(a)           
Term A Loans. Subject to adjustment as a result of the application of prepayments in accordance with ‎Section
2.05, the Borrower shall repay to the Administrative Agent for the ratable account of the Term A Lenders holding Term A Loans on the dates
set forth below, an aggregate amount on the applicable date equal to the percentage set forth below of the initial aggregate principal
amount of the Term A Loans made on the Restatement Effective Date:

 

	Payment Date	 	Term A Percentage	 
	June 30, 2021	 	 	0.625	%
	September 30, 2021	 	 	0.625	%
	December 31, 2021	 	 	0.625	%
	March 31, 2022	 	 	0.625	%
	June 30, 2022	 	 	1.250	%
	September 30, 2022	 	 	1.250	%
	December 31, 2022	 	 	1.250	%
	March 31, 2023	 	 	1.250	%
	June 30, 2023	 	 	1.250	%
	September 30, 2023	 	 	1.250	%
	December 31, 2023	 	 	1.250	%
	March 31, 2024	 	 	1.250	%
	June 30, 2024	 	 	1.875	%
	September 30, 2024	 	 	1.875	%
	December 31, 2024	 	 	1.875	%
	March 31, 2025	 	 	1.875	%
	June 30, 2025	 	 	2.500	%
	September 30, 2025	 	 	2.500	%
	December 31, 2025	 	 	2.500	%
	March 31, 2026	 	 	2.500	%

 

; provided that the aggregate principal amount
of all Term A Loans outstanding on the Maturity Date shall be repaid on such date.

 

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(b)           
Revolving Credit Loans. The Borrower shall repay to the Administrative Agent for the ratable account of the Appropriate
Lenders on the Maturity Date for the Revolving Credit Facility the aggregate principal amount of all of its Revolving Credit Loans outstanding
on such date.

 

Section 2.08.     
Interest.

 

(a)           
Subject to the provisions of ‎Section 2.08(b), (i) each Eurodollar Rate Loan
shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate
for such Interest Period plus the Applicable Rate; (ii) each Base Rate Loan shall bear interest on the outstanding principal amount
thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate; and (iii) each
LIBOR Daily Floating Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a
rate per annum equal to the LIBOR Daily Floating Rate plus the relevant Applicable Rate.

 

(b)           
The Borrower shall pay interest on past due amounts hereunder at a fluctuating interest rate per annum at all times equal to the
Default Rate to the fullest extent permitted by applicable Laws. Accrued and unpaid interest on past due amounts (including interest on
past due interest) shall be due and payable upon demand to the fullest extent permitted by Applicable Laws.

 

(c)           
Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times
as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment,
and before and after the commencement of any proceeding under any Debtor Relief Law.

 

Section 2.09.     
Fees. In addition to certain fees described in Sections ‎2.03(g) and ‎(h):

 

(a)           
Commitment Fee. The Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Lender in accordance
with its Pro Rata Share, a commitment fee (the “Commitment Fee”) in Dollars, equal to the product of (i) the Applicable
Rate for Commitment Fees and (ii) the actual daily amount by which the aggregate Revolving Credit Commitment exceeds the sum of (A) the
Outstanding Amount of Revolving Credit Loans and (B) the Outstanding Amount of L/C Obligations. The Commitment Fee shall accrue at all
times from the Restatement Effective Date until the Maturity Date for the Revolving Credit Facility, including at any time during which
one or more of the conditions in ‎Article 4 is not met, and shall be due and payable
quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur
after the Restatement Effective Date, and on the Maturity Date for the Revolving Credit Facility. The Commitment Fee shall be calculated
quarterly in arrears.

 

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(b)           
Other Fees. The Borrower shall pay to the Agents and the Lenders for their own respective accounts such fees as shall have
been separately agreed upon in writing in the amounts and at the times so specified. Such fees shall be fully earned when paid and shall
not be refundable for any reason whatsoever (except as expressly agreed between the Borrower and the applicable Agent or Lender).

 

Section 2.10.     
Computation of Interest and Fees. All computations of interest for Base Rate Loans (including Base Rate Loans determined
by reference to Eurodollar Rate) shall be made on the basis of a year of three hundred and sixty-five (365) days or three hundred and
sixty-six (366) days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis
of a three hundred and sixty (360) day year and actual days elapsed. Interest shall accrue on each Loan for the day on which such Loan
is made, and shall not accrue on such Loan, or any portion thereof, for the day on which such Loan or such portion is paid; provided
that any such Loan that is repaid on the same day on which it is made shall, subject to ‎Section 2.12(a), bear interest for
one (1) day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all
purposes, absent manifest error.

 

Section 2.11.     
Evidence of Indebtedness.

 

(a)            The
Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and evidenced
by one or more entries in the Register maintained by the Administrative Agent, acting solely for purposes of Treasury Regulation
Section 5f.103-1(c), as agent for the Borrower, in each case in the ordinary course of business. The accounts or records maintained
by the Administrative Agent and each Lender shall be prima facie evidence absent manifest error of the amount of the Credit
Extensions made by the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing
so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to
the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records
of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the
absence of demonstrable error. Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute and
deliver to such Lender (through the Administrative Agent) a Note payable to such Lender, which shall evidence such Lender’s
Loans in addition to such accounts or records. Each Lender may attach schedules to its Note and endorse thereon the date, Type (if
applicable), amount and maturity of its Loans and payments with respect thereto.

 

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(b)           
In addition to the accounts and records referred to in ‎Section 2.11(a), each
Lender and the Administrative Agent shall maintain in accordance with its usual practice accounts or records and, in the case of the Administrative
Agent, entries in the Register, evidencing the purchases and sales by such Lender of participations in Letters of Credit. In the event
of any conflict between the accounts and records maintained by the Administrative Agent and the accounts and records of any Lender in
respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of demonstrable error.

 

(c)           
Entries made in good faith by the Administrative Agent in the Register pursuant to Section ‎2.11(a)
and ‎(b), and by each Lender in its account or accounts pursuant to Section ‎2.11(a)
and ‎(b), shall be prima facie evidence of the amount of principal and interest due
and payable or to become due and payable from the Borrower to, in the case of the Register, each Lender and, in the case of such account
or accounts, such Lender, under this Agreement and the other Loan Documents, absent manifest error; provided that the failure of
the Administrative Agent or such Lender to make an entry, or any finding that an entry is incorrect, in the Register or such account or
accounts shall not limit or otherwise affect the obligations of the Borrower under this Agreement and the other Loan Documents.

 

Section 2.12.     
Payments Generally.

 

(a)           
All payments to be made by the Borrower shall be made free and clear of and without condition or deduction for any counterclaim,
defense, recoupment or setoff. Except as otherwise expressly provided herein, all payments by the Borrower hereunder shall be made to
the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at the applicable Administrative Agent’s
Office in Dollars and in Same Day Funds not later than 2:00 p.m. on the date specified herein. The Administrative Agent will promptly
distribute to each Lender its Applicable Percentage (or other applicable share as provided herein) of such payment in like funds as received
by wire transfer to such Lender’s Applicable Lending Office. All payments received by the Administrative Agent after 2:00 p.m.,
shall (in the sole discretion of the Administrative Agent) be deemed received on the next succeeding Business Day and any applicable interest
or fee shall continue to accrue. If any payment to be made by the Borrower shall come due on a day other than a Business Day, payment
shall be made on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the
case may be.

 

(b)           
If any payment to be made by the Borrower shall come due on a day other than a Business Day, payment shall be made on the next
following Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be; provided
that, if such extension would cause payment of interest on or principal of Eurodollar Rate Loans to be made in the next succeeding calendar
month, such payment shall be made on the immediately preceding Business Day.

 

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(c)           
 (i) Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing of Eurodollar
Rate Loans (or, in the case of any Borrowing of Base Rate Loans, prior to 12:00 noon on the date of such Borrowing) that such Lender will
not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such
Lender has made such share available on such date in accordance with ‎Section 2.02 (or,
in the case of a Borrowing of Base Rate Loans, that such Lender has made such share available in accordance with and at the time required
by ‎Section 2.02) and may, in reliance upon such assumption, make available to the Borrower
a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative
Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding
amount in Same Day Funds with interest thereon, for each day from and including the date such amount is made available to the Borrower
to but excluding the date of payment to the Administrative Agent, at (A) in the case of a payment to be made by such Lender, the Overnight
Rate, plus any administrative, processing or similar fees customarily charged by the Administrative Agent in connection with the foregoing,
and (B) in the case of a payment to be made by the Borrower, the interest rate applicable to Base Rate Loans. If the Borrower and such
Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly
remit to the Borrower the amount of such interest paid by the Borrower for such period. If such Lender pays its share of the applicable
Borrowing to the Administrative Agent, then the amount so paid shall constitute such Lender’s Loan included in such Borrowing. Any
payment by the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that shall have failed to make
such payment to the Administrative Agent.

 

(ii)           
Unless the Administrative Agent shall have received notice from the Borrower prior to the time at which any payment is due to the
Administrative Agent for the account of the Lenders or the relevant L/C Issuer hereunder that the Borrower will not make such payment,
the Administrative Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon
such assumption, distribute to the Appropriate Lenders or such L/C Issuer, as the case may be, the amount due. In such event, if the Borrower
has not in fact made such payment, then each of the Appropriate Lenders or such L/C Issuer, as the case may be, severally agrees to repay
to the Administrative Agent forthwith on demand the amount so distributed to such Lender or such L/C Issuer, in Same Day Funds with interest
thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative
Agent, at the Overnight Rate.

 

A notice of the Administrative Agent to any Lender
or the Borrower with respect to any amount owing under this ‎Section
2.12(c) shall be conclusive, absent manifest error.

 

(d)           
If any Lender makes available to the Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing
provisions of this ‎Article 2, and such funds are not made available to the Borrower
by the Administrative Agent because the conditions to the applicable Credit Extension set forth in ‎Article
4 are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds as
received from such Lender) to such Lender, without interest.

 

(e)           
 The obligations of the Lenders hereunder to make Term Loans and Revolving Credit Loans, to fund participations in Letters of Credit
and to make payments pursuant to ‎Section 10.05(b) are several and not joint. The failure
of any Lender to make any Loan, to fund any such participation or to make any payment under ‎Section
10.05(b) on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and
no Lender shall be responsible for the failure of any other Lender to so make its Loan, to purchase its participation or to make its payment
under ‎Section 10.05(b).

 

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(f)            
Nothing herein shall be deemed to obligate any Lender to obtain the funds for any Loan in any particular place or manner or to
constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner.

 

(g)           
Whenever any payment received by the Administrative Agent under this Agreement or any of the other Loan Documents is insufficient
to pay in full all amounts due and payable to the Administrative Agent and the Lenders under or in respect of this Agreement and the other
Loan Documents on any date, such payment shall be distributed by the Administrative Agent and applied by the Administrative Agent and
the Lenders in the order of priority set forth in ‎Section 8.04. If the Administrative
Agent receives funds for application to the Obligations of the Loan Parties under or in respect of the Loan Documents under circumstances
for which the Loan Documents do not specify the manner in which such funds are to be applied, the Administrative Agent may, but shall
not be obligated to, elect to distribute such funds to each of the Lenders in accordance with such Lender’s Pro Rata Share of the
sum of (a) the Outstanding Amount of all Loans outstanding at such time and (b) the Outstanding Amount of all L/C Obligations outstanding
at such time, in repayment or prepayment of such of the outstanding Loans or other Obligations then owing to such Lender.

 

(h)           
Unless the Administrative Agent shall have received notice from the Borrower prior to the date on which any payment is due to the
Administrative Agent for the account of the Lenders or any L/C Issuer hereunder that the Borrower will not make such payment, the Administrative
Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption,
distribute to the Lenders or the applicable L/C Issuers, as the case may be, the amount due.

With Respect to any payment that the Administrative Agent makes for the account of the Lenders or any L/C Issuer hereunder as to which
the Administrative Agent determines (which determination shall be conclusive absent manifest error) that any of the following applies
(such payment referred to as the “Rescindable Amount”): (1) the Borrower has not in fact made such payment; (2) the
Administrative Agent has made a payment in excess of the amount so paid by the Borrower (whether or not then owed); or (3) the Administrative
agent has for any reason otherwise erroneously made such payment; then each of the Lenders or the applicable L/C Issuers, as the case
may be, severally agrees to repay to the Administrative Agent forthwith on demand the Rescindable Amount so distributed to such Lender
or such L/C Issuer, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed
to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate and a rate determined
by the Administrative Agent in accordance with banking industry rules on interbank compensation.

 

A notice of the Administrative Agent to any Lender or the Borrower
with respect to any amount owing under this clause (i) shall be conclusive, absent manifest error.

 

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Section 2.13.     
Sharing of Payments. If, other than as expressly provided elsewhere herein, any Lender shall obtain on account of the Loans
made by it, or the participations in L/C Obligations, any payment (whether voluntary, involuntary, through the exercise of any right of
setoff, or otherwise) in excess of its ratable share (or other share contemplated hereunder) thereof, such Lender shall immediately (a)
notify the Administrative Agent of such fact, and (b) purchase from the other Lenders such participations in the Loans made by them and/or
such subparticipations in the participations in L/C Obligations, as shall be necessary to cause such purchasing Lender to share the excess
payment in respect of such Loans or such participations, as the case may be, pro rata with each of them; provided that (x) if all
or any portion of such excess payment is thereafter recovered from the purchasing Lender under any of the circumstances described in ‎Section
10.06 (including pursuant to any settlement entered into by the purchasing Lender in its discretion), such purchase shall to that extent
be rescinded and each other Lender shall repay to the purchasing Lender the purchase price paid therefor, together with an amount equal
to such paying Lender’s ratable share (according to the proportion of (i) the amount of such paying Lender’s required repayment
to (ii) the total amount so recovered from the purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender
in respect of the total amount so recovered, without further interest thereon and (y) the provisions of this ‎Section 2.13
shall not be construed to apply to any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement
(including the application of funds arising from the existence of a Defaulting Lender or Disqualified Lender) or any payment obtained
by a Lender as consideration for the assignment of or sale of a participation in any of its Loans or participations in L/C Obligations
to any assignee or participant. The Borrower agrees that any Lender so purchasing a participation from another Lender may, to the fullest
extent permitted by applicable Law, exercise all its rights of payment (including the right of setoff, but subject to ‎Section
10.09) with respect to such participation as fully as if such Lender were the direct creditor of the Borrower in the amount of such participation.
The Administrative Agent will keep records (which shall be conclusive and binding in the absence of demonstrable error) of participations
purchased under this ‎Section 2.13 and will in each case notify the Lenders following any such purchases or repayments. Each
Lender that purchases a participation pursuant to this ‎Section 2.13 shall from and after such purchase have the right to
give all notices, requests, demands, directions and other communications under this Agreement with respect to the portion of the Obligations
purchased to the same extent as though the purchasing Lender were the original owner of the Obligations purchased.

 

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Section 2.14.     
Incremental Credit Extensions.

 

(a)            At
any time and from time to time, subject to the terms and conditions set forth herein, the Borrower may, by notice to the
Administrative Agent (whereupon the Administrative Agent shall promptly deliver a copy to each of the Lenders), request to add one
or more additional tranches of term loans (the “Incremental Term Loans”), one or more increases in any Class of
Term Loans or Incremental Term Loans (the “Incremental Term Loan Increases”) or one or more increases in the
Revolving Credit Commitments (the “Incremental Revolving Commitments”; together with the Incremental Term Loans
and the Incremental Term Loan Increases, the “Incremental Facilities”). Notwithstanding anything to the contrary
herein, the aggregate principal amount of all Incremental Facilities incurred after the Restatement Effective Date (other than
Refinancing Term Loans and Refinancing Revolving Commitments), shall not exceed the sum of (i) $120,000,000 plus (ii) the
amount of any voluntary prepayments of the Term Loans and voluntary permanent reductions of the Revolving Credit Commitments
effected after the Restatement Effective Date (it being understood that any prepayment of Term Loans with the proceeds of
substantially concurrent borrowings of new Loans hereunder or any reduction of Revolving Credit Commitments in connection with a
substantially concurrent issuance of new revolving commitments hereunder shall not increase the calculation of the amount under this
clause (ii)) plus (iii) unlimited additional Incremental Facilities so long as, after giving Pro Forma Effect to the making
of the Incremental Term Loans or the establishment of Incremental Revolving Commitments (assuming that any such Incremental
Revolving Commitments are drawn in full and excluding the cash proceeds of such Incremental Facility) and after giving effect to any
Specified Transaction consummated in connection therewith and all other appropriate Pro Forma Adjustments, the First Lien Net
Leverage Ratio does not exceed 2.80:1.00 (or, solely in the case of Incremental Facilities incurred to finance a Permitted
Acquisition, 3.50:1.00) (clauses (i), (ii) and (iii), collectively, the “Incremental Facilities Cap”); provided that
(x) Incremental Facilities and Permitted Alternative Incremental Facilities Debt may be incurred under one or more of clauses
(i) through (iii) as selected by the Borrower in its sole discretion and (y) if Incremental Facilities or Permitted
Alternative Incremental Facilities Debt are intended to be incurred under clause (iii) and any other of clauses (i) or (ii)
in a single transaction or series of related transactions, (A) incurrence of the portion of such Incremental Facilities or Permitted
Alternative Incremental Facilities Debt to be incurred under clause (iii) shall first be calculated without giving effect to
any Incremental Facilities or Permitted Alternative Incremental Facilities Debt to be incurred under all other such clauses, but
giving full pro forma effect the use of proceeds of the entire amount of all such Incremental Facilities or Permitted
Alternative Incremental Facilities Debt and related transactions, and (B) thereafter, incurrence of the portion of such Incremental
Facilities or Permitted Alternative Incremental Facilities Debt to be incurred under such other applicable clauses of this
definition shall be calculated.

 

(b)           
The Incremental Facilities are subject to the following terms and conditions:

 

(i)           
each Incremental Facility shall have the same guarantees as, and be secured on a pari passu basis by the same Collateral
securing, the Obligations hereunder;

 

(ii)           
no existing Lender will be required to participate in any such Incremental Facility without its consent;

 

(iii)           
no Default or Event of Default would exist after giving effect thereto, subject to customary “SunGard” or certain
fund conditionality in the case of Incremental Facilities issued in connection with a permitted acquisition or similar investments, if
agreed by the Lenders providing such Incremental Facility;

 

(iv)            the
maturity date of any Incremental Term Loans shall be no earlier than the Maturity Date of the Term A Loans, and the Weighted Average
Life to Maturity of such Incremental Term Loans shall be not shorter than the then remaining Weighted Average Life to Maturity of
the Term A Loans;

 

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(v)           
each Incremental Facility incurred pursuant to clause (a)(i) above shall be subject to Pro Forma Compliance;

 

(vi)           
in the case of (A) Incremental Revolving Commitments, the maturity date of such Incremental Revolving Commitments shall be the
same as the Maturity Date of the Revolving Credit Facility, such Incremental Revolving Commitments shall require no scheduled amortization
or mandatory commitment reduction prior to the Maturity Date of the Revolving Credit Facility and the Incremental Revolving Commitments
shall be on the exact same terms and pursuant to the exact same documentation applicable to the Revolving Credit Facility and (B) Incremental
Term Loan Increases, the maturity date of such Incremental Term Loan Increases shall be the same as the Maturity Date of the applicable
Class of Term Loans or Incremental Term Loans, and such Incremental Term Loan Increases shall be on the exact same terms and pursuant
to the exact same documentation applicable to the applicable Class of Term Loans or Incremental Term Loans;

 

(vii)           
[reserved];

 

(viii)           
the interest rate margins and (subject to clause ‎(iv)) amortization schedule
applicable to any Incremental Term Loans shall be determined by the Borrower and the lenders thereunder;

 

(ix)           
any Incremental Term Loan may participate (A) in any voluntary prepayment of Term Loans as set forth in Section 2.05(a)
on a pro rata basis, greater than pro rata basis or less than a pro rata basis with the then-existing Term Loans and (B) in any mandatory
prepayment of Term Loans as set forth in Section 2.05(b) on a pro rata basis (to the extent secured on a pari passu
basis with the Term Loans made on the Restatement Effective Date), greater than pro rata basis with respect to prepayments of any such
Incremental Term Loans with the proceeds of any Refinancing Term Loans or less than a pro rata basis with the then-existing Term Loans
to the extent provided in such Sections;

 

(x)           
[reserved];

 

(xi)            any
Incremental Term Loans shall be on terms and pursuant to documentation to be determined; provided that, to the extent such
terms and documentation are not consistent with the Term A Loans (except to the extent permitted by clause ‎(iv), ‎(viii)
or ‎(ix) above), they shall be reasonably satisfactory to the
Administrative Agent; provided, further, that (A) the terms and conditions of such Incremental Term Loans (excluding pricing
and optional prepayment or redemption terms) do not contain covenants (including financial maintenance covenants) or events of
default, taken as a whole, that are materially more restrictive than (or in addition to) those contained in this Agreement (except
for covenants or other provisions applicable only to periods after the Latest Maturity Date) (it being understood that to the extent
any covenant is added for the benefit of such Incremental Term Loans, no consent shall be required from the Administrative Agent or
any Lender to the extent that such covenant is also added for the benefit of each Facility) (as determined by the Borrower in good
faith); and

 

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(xii)           
each Incremental Facility shall be in an integral multiple of $1,000,000 and be in an aggregate principal amount that is not less
than $10,000,000 in the case of any Incremental Term Loans or Incremental Term Loan Increases or $5,000,000 in the case of any Incremental
Revolving Commitments; provided that such amount may be less than the applicable minimum amount if such amount represents all the
remaining availability hereunder as set forth above.

 

(c)            Each
notice from the Borrower pursuant to this Section shall set forth the requested amount and proposed terms of the relevant
Incremental Term Loans, Incremental Term Loan Increases and/or Incremental Revolving Commitments. Any additional bank, financial
institution, existing Lender or other Person that elects to provide the applicable Incremental Facility shall be reasonably
satisfactory to the Borrower and, to the extent the Administrative Agent would have a consent right to an assignment to such Person
under ‎Section 10.07, the Administrative Agent (any such bank, financial
institution, existing Lender or other Person being called an “Additional Lender”) and, if not already a Lender,
shall become a Lender under this Agreement pursuant to an amendment (an “Incremental Facility Amendment”) to this
Agreement and, as appropriate, the other Loan Documents, executed by the Borrower, such Additional Lender and the Administrative
Agent. No Incremental Facility Amendment shall require the consent of any Lenders other than the Additional Lenders with respect to
such Incremental Facility Amendment. Commitments in respect of any Incremental Facilities shall become Commitments under this
Agreement. An Incremental Facility Amendment may, without the consent of any other Lenders, effect such amendments to any Loan
Documents as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of this ‎Section
2.14. The effectiveness of any Incremental Facility Amendment shall, unless otherwise agreed to by the Administrative Agent and the
Additional Lenders, be subject to the satisfaction on the date thereof (each, an “Incremental Facility Closing
Date”) of each of the conditions set forth in ‎Section 4.02 (it being
understood that (x) all references to “the date of such Credit Extension” in ‎Section
4.02 shall be deemed to refer to the Incremental Facility Closing Date and (y) the Incremental Facility Closing Date shall be deemed
to be the initial Credit Extension for purposes of ‎Section 4.02(a) and (z) to the
extent the proceeds of any Incremental Facility are being used to finance a Permitted Acquisition and the lenders under such
Incremental Facility agree, the conditions in ‎Section 4.02 may be subject to
customary “SunGard” limitations (or, for an acquisition of a foreign entity, “certain funds”
limitations)). The proceeds of any Incremental Term Loans and Incremental Term Loan Increases will be used for general corporate
purposes (including Permitted Acquisitions, Investments, Restricted Payments and Capital Expenditures). Upon each increase in the
Revolving Credit Commitments pursuant to this Section, each Revolving Credit Lender immediately prior to such increase will
automatically and without further act be deemed to have assigned to each Lender providing a portion of the Incremental Revolving
Credit Commitment (each a “Incremental Revolving Lender”) in respect of such increase, and each such Incremental
Revolving Lender will automatically and without further act be deemed to have assumed, a portion of such Revolving Credit
Lender’s participations hereunder in outstanding Letters of Credit such that, after giving effect to each such deemed
assignment and assumption of participations, the percentage of the aggregate outstanding participations hereunder in Letters of
Credit will equal the percentage of the aggregate Revolving Credit Commitments of all Revolving Credit Lenders represented by such
Revolving Credit Lender’s Revolving Credit Commitment. The Administrative Agent and the Lenders hereby agree that the minimum
borrowing, pro rata borrowing and pro rata payment requirements contained elsewhere in this Agreement shall not apply to the
transactions effected pursuant to the immediately preceding sentence.

 

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Section 2.15.     
Extensions of Term Loans and Revolving Credit Commitments.

 

(a)            Notwithstanding
anything to the contrary in this Agreement, pursuant to one or more offers (each, an “Extension Offer”) made from
time to time by the Borrower to all Lenders of any Class of Term Loans or any Class of Revolving Credit Commitments, in each case on
a pro rata basis (based on the aggregate outstanding principal amount of the respective Term Loans or Revolving Credit Commitments
of the applicable Class) and on the same terms to each such Lender, the Borrower is hereby permitted to consummate from time to time
transactions with individual Lenders that accept the terms contained in such Extension Offers to extend the maturity date of each
such Lender’s relevant tranche of Term Loans and/or Revolving Credit Commitments of the applicable Class and otherwise modify
the terms of such Term Loans and/or Revolving Credit Commitments pursuant to the terms of the relevant Extension Offer (including,
without limitation, by increasing the interest rate or fees payable in respect of such Term Loans and/or Revolving Credit
Commitments (and related outstandings) and/or modifying the amortization schedule in respect of such Lender’s Term Loans
and/or adding or changing redemption provisions and premiums) (each, an “Extension,” and each group of Term Loans
or Revolving Credit Commitments, as applicable, in each case as so extended, as well as the original Term Loans and the original
Revolving Credit Commitments (in each case not so extended), being a separate Class of Term Loans from the tranche of Term Loans
from which they were converted, and any Extended Revolving Credit Commitments (as defined below) shall constitute a separate Class
of Revolving Credit Commitments from the Class of Revolving Credit Commitments from which they were converted), so long as the
following terms are satisfied: (i) no Default or Event of Default shall have occurred and be continuing at the time the offering
document in respect of an Extension Offer is delivered to the Lenders, (ii) except as to interest rates, fees and final maturity
(which shall be determined by the Borrower and set forth in the relevant Extension Offer), the Revolving Credit Commitment of any
Revolving Credit Lender that agrees to an extension with respect to such Revolving Credit Commitment (an “Extending
Revolving Credit Lender”) extended pursuant to an Extension (an “Extended Revolving Credit
Commitment”), and the related outstandings, shall be a Revolving Credit Commitment (or related outstandings, as the case
may be) with the same terms as the original Revolving Credit Commitments (and related outstandings); provided that (x)
subject to the provisions of Section ‎2.03(k) to the extent dealing with Letters
of Credit which mature or expire after a maturity date when there exist Extended Revolving Credit Commitments with a longer maturity
date, all Letters of Credit shall be participated in on a pro rata basis by all Lenders with Revolving Credit Commitments in
accordance with their Pro Rata Share of the Revolving Credit Commitments (and except as provided in Section ‎2.03(k),
without giving effect to changes thereto on an earlier maturity date with respect to Letters of Credit theretofore incurred or
issued) and all borrowings under Revolving Credit Commitments and repayments thereunder shall be made on a pro rata basis (except
for (A) payments of interest and fees at different rates on Extended Revolving Credit Commitments (and related outstandings) and (B)
repayments required upon the maturity date of the non-extending Revolving Credit Commitments) and (y) at no time shall there be
Revolving Credit Commitments hereunder (including Extended Revolving Credit Commitments and any original Revolving Credit
Commitments) which have more than three different maturity dates, (iii) except as to interest rates, fees, amortization, final
maturity date, premium, required prepayment dates and participation in prepayments (which shall, subject to immediately succeeding
clauses ‎(iv), ‎(v) and ‎(vi),
be determined by the Borrower and set forth in the relevant Extension Offer), the Term Loans of any Term Lender that agrees to an
extension with respect to such Term Loans (an “Extending Term Lender”) extended pursuant to any Extension
(“Extended Term Loans”) shall have the same terms as the Class of Term Loans subject to such Extension Offer,
(iv) the final maturity date of any Extended Term Loans (other than any Extended Term Loans that are Term Loans) shall be no earlier
than the maturity date hereunder and the amortization schedule applicable to Term A Loans pursuant to ‎Section
2.07(b) for periods prior to the Maturity Date for Term Loans may not be increased, (v) the Weighted Average Life to Maturity of any
Extended Term Loans shall be no shorter than the remaining Weighted Average Life to Maturity of the Term Loans extended thereby,
(vi) any Extended Term Loans may participate on a pro rata basis or a less than pro rata basis (but not greater than a pro rata
basis) in any voluntary or mandatory repayments or prepayments hereunder, in each case as specified in the respective Extension
Offer, (vii) if the aggregate principal amount of the Class of Term Loans (calculated on the face amount thereof) or Revolving
Credit Commitments of such class, as the case may be, in respect of which Term Lenders or Revolving Credit Lenders, as the case may
be, shall have accepted the relevant Extension Offer shall exceed the maximum aggregate principal amount of Term Loans or Revolving
Credit Commitments of such Class, as the case may be, offered to be extended by the Borrower pursuant to such Extension Offer, then
the Term Loans or Revolving Credit Commitments of such Class, as the case may be, of such Term Lenders or Revolving Credit Lenders,
as the case may be, shall be extended ratably up to such maximum amount based on the respective principal amounts (but not to exceed
actual holdings of record) with respect to which such Term Lenders or Revolving Credit Lenders, as the case may be, have accepted
such Extension Offer, (viii) all documentation in respect of such Extension shall be consistent with the foregoing, (ix) any
applicable Minimum Extension Condition shall be satisfied unless waived by the Borrower and (x) the Minimum Tranche Amount shall be
satisfied unless waived by the Administrative Agent.

 

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(b)            With
respect to all Extensions consummated by the Borrower pursuant to this ‎Section
2.15, (i) such Extensions shall not constitute voluntary or mandatory payments or prepayments for purposes of ‎Section
2.05 and (ii) no Extension Offer is required to be in any minimum amount or any minimum increment; provided that (x) the
Borrower may at its election specify as a condition (a “Minimum Extension Condition”) to consummating any such
Extension that a minimum amount (to be determined and specified in the relevant Extension Offer in the Borrower’s sole
discretion and may be waived by the Borrower) of Term Loans or Revolving Credit Commitments (as applicable) of any or all applicable
Classes be tendered and (y) no tranche of Extended Term Loans shall be in an amount of less than $10,000,000 (the “Minimum
Tranche Amount”), unless such Minimum Tranche Amount is waived by the Administrative Agent. The Administrative Agent and
the Lenders hereby consent to the transactions contemplated by this Section (including, for the avoidance of doubt, payment of any
interest, fees or premium in respect of any Extended Term Loans and/or Extended Revolving Credit Commitments on the such terms as
may be set forth in the relevant Extension Offer) and hereby waive the requirements of any provision of this Agreement (including,
without limitation, Sections ‎2.05, ‎2.12
and ‎2.13) or any other Loan Document that may otherwise prohibit any such
Extension or any other transaction contemplated by this Section.

 

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(c)           
No consent of any Lender or the Administrative Agent shall be required to effectuate any Extension, other than (A) the consent
of each Lender agreeing to such Extension with respect to one or more of its Term Loans and/or Revolving Credit Commitments (or a portion
thereof) and (B) with respect to any Extension of the Revolving Credit Commitments, the consent of the L/C Issuer, which consent shall
not be unreasonably withheld or delayed. All Extended Term Loans, Extended Revolving Credit Commitments and all obligations in respect
thereof shall be Obligations under this Agreement and the other Loan Documents that are secured by the Collateral on a pari passu basis
with all other applicable Obligations under this Agreement and the other Loan Documents. The Lenders hereby irrevocably authorize the
Administrative Agent to enter into amendments to this Agreement and the other Loan Documents with the Borrower as may be necessary in
order to establish new Classes in respect of Revolving Credit Commitments or Term Loans so extended and such technical amendments as may
be necessary or appropriate in the reasonable opinion of the Administrative Agent and the Borrower in connection with the establishment
of such new Classes, in each case on terms consistent with this Section. Without limiting the foregoing, in connection with any Extensions
the respective Loan Parties shall (at their expense) amend (and the Administrative Agent is hereby directed to amend) any Mortgage that
has a maturity date prior to the then Latest Maturity Date so that such maturity date is extended to the then Latest Maturity Date (or
such later date as may be advised by local counsel to the Administrative Agent).

 

(d)           
In connection with any Extension, the Borrower shall provide the Administrative Agent at least five (5) Business Days’ (or
such shorter period as may be agreed by the Administrative Agent) prior written notice thereof, and shall agree to such procedures (including,
without limitation, regarding timing, rounding and other adjustments and to ensure reasonable administrative management of the credit
facilities hereunder after such Extension), if any, as may be established by, or acceptable to, the Administrative Agent, in each case
acting reasonably to accomplish the purposes of this Section.

 

Section 2.16.     
Defaulting Lenders.

 

(a)           
Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender,
then, until such time as that Lender is no longer a Defaulting Lender, to the extent permitted by applicable Law:

 

(i)           
Waivers and Amendments. That Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with
respect to this Agreement shall be restricted as set forth in ‎Section 10.01.

 

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(ii)            Reallocation
of Payments. Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of
that Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise, and including any
amounts made available to the Administrative Agent by that Defaulting Lender pursuant to ‎Section
10.09), shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the
payment of any amounts owing by that Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro
rata basis of any amounts owing by that Defaulting Lender to any applicable L/C Issuer hereunder; third, if so determined by
the Administrative Agent or requested by any relevant L/C Issuer, to be held as Cash Collateral for future funding obligations of
that Defaulting Lender of any participation in any Letter of Credit, to the extent such funding obligations have not been
reallocated pursuant to ‎Section 2.16(a)(iv) or Cash Collateralized
pursuant to ‎Section 2.17; fourth, as the Borrower may request (so
long as no Default or Event of Default exists), to the funding of any Loan in respect of which that Defaulting Lender has failed to
fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; fifth, if so determined by
the Administrative Agent and the Borrower, to be held in a non-interest bearing deposit account and released in order to satisfy
obligations of that Defaulting Lender to fund Loans under this Agreement; sixth, to the payment of any amounts owing to the
Lenders, the L/C Issuer as a result of any judgment of a court of competent jurisdiction obtained by any Lender, any L/C Issuer
against that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; seventh,
to the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the
Borrower against that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this
Agreement; and eighth, to that Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided
that if (x) such payment is a payment of the principal amount of any Loans or L/C Borrowings in respect of which that Defaulting
Lender has not fully funded its appropriate share and (y) such Loans or L/C Borrowings were made at a time when the conditions set
forth in ‎Section 4.02 were satisfied or waived, such payment shall be
applied solely to pay the Loans of, and L/C Borrowings owed to, all non-Defaulting Lenders on a pro rata basis prior to being
applied to the payment of any Loans of, or L/C Borrowings owed to, that Defaulting Lender. Any payments, prepayments or other
amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash
Collateral pursuant to this ‎Section 2.16(a)(ii) shall be deemed paid to
and redirected by that Defaulting Lender, and each Lender irrevocably consents hereto.

 

(iii)           
Certain Fees. That Defaulting Lender (x) shall not be entitled to receive any commitment fee pursuant to ‎Section
2.09(a) for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that
otherwise would have been required to have been paid to that Defaulting Lender) and (y) shall be limited in its right to receive Letter
of Credit Fees as provided in ‎Section 2.03(c).

 

(iv)            Reallocation
of Pro Rata Shares to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of
computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of
Credit pursuant to Section ‎2.03, the “Pro Rata Share”
of each non-Defaulting Lender shall be computed without giving effect to the Commitment of that Defaulting Lender; provided,
that, the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit shall
not exceed the positive difference, if any, of (1) the Commitment of that non-Defaulting Lender minus (2) the aggregate
Outstanding Amount of the Revolving Credit Loans of that Lender. Subject to ‎Section
10.23, no reallocation hereunder shall constitute a waiver 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 following such reallocation.

 

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(b)           
Defaulting Lender Cure. If the Borrower, the Administrative Agent and each relevant L/C Issuer agree in writing in their
sole discretion that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify
the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which
may include arrangements with respect to any Cash Collateral), that Lender will, to the extent applicable, purchase that portion of outstanding
Loans of the other Lenders (and such Lender shall pay such other Lenders any break funding costs arising as a result of such purchase)
or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations
in Letters of Credit to be held on a pro rata basis by the Lenders in accordance with their Pro Rata Share (without giving effect to ‎Section
2.16(a)(iv)), whereupon that Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively
with respect to fees accrued or payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and provided,
further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender
will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.

 

Section 2.17.     
Cash Collateral.

 

(a)            Certain
Credit Support Events. Upon the request of the Administrative Agent or the relevant L/C Issuer if, as of the Letter of Credit
Expiration Date, any L/C Obligation for any reason remains outstanding, the Borrower shall, in each case, immediately Cash
Collateralize the then Outstanding Amount of all L/C Obligations. In addition, if the Administrative Agent notifies the Borrower at
any time that the Outstanding Amount of all L/C Obligations at such time exceeds 105% of the Letter of Credit Sublimit then in
effect, then, within two Business Days after receipt of such notice, the Borrower shall Cash Collateralize the L/C Obligations in an
amount equal to the amount by which the Outstanding Amount of all L/C Obligations exceeds the Letter of Credit Sublimit. At any time
that there shall exist a Defaulting Lender, promptly upon the request of the Administrative Agent or an L/C Issuer, the Borrower
shall deliver to the Administrative Agent Cash Collateral in an amount sufficient to cover all Fronting Exposure (after giving
effect to ‎Section 2.16(a)(iv)) and any Cash Collateral provided by the Defaulting
Lender). If at any time the Administrative Agent determines that any funds held as Cash Collateral are subject to any right or claim
of any Person other than the Administrative Agent or that the total amount of such funds is less than the aggregate Outstanding
Amount of all L/C Obligations, the Borrower will, forthwith upon demand by the Administrative Agent, pay to the Administrative
Agent, as additional funds to be deposited as Cash Collateral, an amount equal to the excess of (x) such aggregate Outstanding
Amount over (y) the total amount of funds, if any, then held as Cash Collateral that the Administrative Agent determines to be free
and clear of any such right and claim. Upon the drawing of any Letter of Credit for which funds are on deposit as Cash Collateral,
such funds shall be applied, to the extent permitted under applicable Laws, to reimburse the relevant L/C Issuer.

 

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(b)           
Grant of Security Interest. All Cash Collateral (other than credit support not constituting funds subject to deposit) shall
be maintained in blocked deposit accounts at Bank of America or any other arrangement agreed to by the Administrative Agent and may be
invested in readily available Cash Equivalents at its sole discretion. The Borrower, and to the extent provided by any Lender, such Lender,
hereby grants to (and subjects to the control of) the Administrative Agent, for the benefit of the Administrative Agent, the relevant
L/C Issuers and the Lenders, and agrees to maintain, a first priority security interest in all such cash, deposit accounts and all balances
therein, and all other property so provided as collateral pursuant hereto, and in all proceeds of the foregoing, all as security for the
obligations to which such Cash Collateral may be applied pursuant to ‎Section 2.17(c).
If at any time the Administrative Agent determines that Cash Collateral is subject to any right or claim of any Person other than the
Administrative Agent as herein provided, or that the total amount of such Cash Collateral is less than the applicable Fronting Exposure
and other obligations secured thereby, the Borrower or the relevant Defaulting Lender will, promptly upon demand by the Administrative
Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency.

 

(c)           
Application. Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided under any of
this ‎Section 2.17 or Sections ‎‎2.05,
‎2.06 or ‎8.02 in respect of Letters
of Credit shall be held and applied to the satisfaction of the specific L/C Obligations, obligations to fund participations therein (including,
as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation) and other obligations for which the Cash
Collateral was so provided, prior to any other application of such property as may be provided for herein.

 

(d)           
Release. Cash Collateral (or the appropriate portion thereof) provided to reduce Fronting Exposure or other obligations
shall be released promptly following (i) the elimination of the applicable Fronting Exposure or other obligations giving rise thereto
(including by the termination of Defaulting Lender status of the applicable Lender) or (ii) the Administrative Agent’s good faith
determination that there exists excess Cash Collateral; provided, however, (x) that Cash Collateral furnished by or on behalf
of a Loan Party shall not be released during the continuance of a Default or Event of Default (and following application as provided in
this ‎Section 2.17 may be otherwise applied in accordance with ‎Section
8.04), and (y) the Person providing Cash Collateral and the L/C Issuer, may agree that Cash Collateral shall not be released but instead
held to support future anticipated Fronting Exposure or other obligations. To the extent that the amount of any Cash Collateral exceeds
the aggregate amount of Fronting Exposure or other obligations giving rise thereto plus costs incidental thereto, and so long as no Default
or Event of Default has occurred and is continuing, the excess shall be refunded to the Person that provided such Cash Collateral.

 

Article
3

Taxes, Increased Costs Protection and Illegality

 

Section 3.01.     
Taxes.

 

(a)           
Except as provided in this ‎Section 3.01, any and all payments by the Borrower
(the term Borrower under this ‎Article 3 being deemed to include any Subsidiary for
whose account a Letter of Credit is issued) or any Guarantor to or for the account of any Agent or any Lender under any Loan Document
shall be made free and clear of and without deduction for any Taxes. If any applicable withholding agent shall be required by any Laws
to deduct any Taxes from or in respect of any sum payable under any Loan Document to any Agent or any Lender, (i) if such Taxes are Indemnified
Taxes or Other Taxes, the sum payable by the Borrower or applicable Guarantor shall be increased as necessary so that after all required
deductions have been made (including deductions applicable to additional sums payable under this ‎Section
3.01), each of such Agent and such Lender receives an amount equal to the sum it would have received had no such deductions been made,
(ii) such applicable withholding agent shall make such deductions, (iii) such applicable withholding agent shall pay the full amount deducted
to the relevant taxation authority or other authority in accordance with applicable Laws, and (iv) within thirty (30) days after the date
of such payment by such applicable withholding agent (or, if receipts or evidence are not available within thirty (30) days, as soon as
possible thereafter), such applicable withholding agent shall furnish to Borrower, the Administrative Agent and such Agent or Lender (as
the case may be but without duplication) the original or a facsimile copy of a receipt evidencing payment thereof to the extent such a
receipt is issued therefor, or other written proof of payment thereof that is reasonably satisfactory to the Administrative Agent.

 

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(b)           
In addition, the Borrower agrees to pay all Other Taxes.

 

(c)           
Without duplication of any amounts payable pursuant to Section ‎3.01(a) or ‎(b),
the Borrower agrees to indemnify each Agent and each Lender for (i) the full amount of Indemnified Taxes and Other Taxes (including any
Indemnified Taxes or Other Taxes imposed or asserted by any jurisdiction on amounts payable under this ‎Section
3.01) payable by such Agent and such Lender and (ii) any reasonable expenses arising therefrom or with respect thereto, in each case whether
or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. Such
Agent or Lender, as the case may be, will, at the Borrower’s request, provide the Borrower with a written statement thereof setting
forth in reasonable detail the basis and calculation of such amounts (such statement shall be conclusive absent demonstrable error). Payment
under this ‎Section 3.01(c) shall be made within ten (10) days after the date such Lender
or such Agent makes a demand therefor.

 

(d)            If
any Lender or Agent determines, in its reasonable discretion, that it has received a refund in respect of any Indemnified Taxes or
Other Taxes as to which indemnification or additional amounts have been paid to it by the Borrower or any Guarantor pursuant to this ‎Section
3.01, it shall promptly remit such refund as soon as practicable after it is determined that such refund pertains to Indemnified
Taxes or Other Taxes (but only to the extent of indemnity payments made, or additional amounts paid, by the Borrower or any
Guarantor under this ‎Section 3.01 with respect to the Indemnified Taxes or Other
Taxes giving rise to such refund plus any interest included in such refund by the relevant taxing authority attributable thereto) to
the Borrower, net of all reasonable out-of-pocket expenses (including any Taxes) of the Lender or Agent, as the case may be and
without interest (other than any interest paid by the relevant taxing authority with respect to such refund); provided that
the Borrower, upon the request of the Lender or Agent, as the case may be, agrees promptly to return such refund to such party in
the event such party is required to repay such refund to the relevant taxing authority. Such Lender or Agent, as the case may be,
shall, at the Borrower’s request, provide the Borrower with a copy of any notice of assessment or other evidence of the
requirement to repay such refund received from the relevant taxing authority (provided that such Lender or Agent may delete
any information therein that such Lender or Agent deems confidential). Nothing herein contained shall interfere with the right of a
Lender or Agent to arrange its Tax affairs in whatever manner it thinks fit nor oblige any Lender or Agent to claim any Tax refund
or to make available its Tax returns or disclose any information relating to its Tax affairs or any computations in respect thereof
or require any Lender or Agent to do anything that would prejudice its ability to benefit from any other refunds, credits, reliefs,
remissions or repayments to which it may be entitled.

 

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(e)           
Each Lender agrees that, upon the occurrence of any event giving rise to the operation of Section ‎3.01(a)
or ‎(c) with respect to such Lender, it will, if requested by the Borrower, use commercially
reasonable efforts (subject to legal and regulatory restrictions) to designate another Applicable Lending Office for any Loan or Letter
of Credit affected by such event; provided that such efforts are made on terms that, in the judgment of such Lender, cause such
Lender and its Applicable Lending Office(s) to suffer no material economic, legal or regulatory disadvantage; and provided further
that nothing in this ‎Section 3.01(e) shall affect or postpone any of the Obligations
of the Borrower or the rights of such Lender pursuant to Section ‎3.01(a) or ‎(c).

 

(f)            
Each Lender shall, at such times as are reasonably requested by the Borrower or the Administrative Agent, provide the Borrower
and the Administrative Agent with any documentation prescribed by Law, or reasonably requested by the Borrower or the Administrative Agent,
certifying as to any entitlement of such Lender to an exemption from, or reduction in, any withholding Tax with respect to any payments
to be made to such Lender under any Loan Document. Each such Lender shall, whenever a lapse in time or change in circumstances renders
such documentation (including any documentation specifically referenced below) expired, obsolete or inaccurate in any material respect,
deliver promptly to the Borrower and the Administrative Agent updated or other appropriate documentation (including any new documentation
reasonably requested by the applicable withholding agent) or promptly notify the Borrower and the Administrative Agent in writing of its
inability to do so.

 

Without limiting the generality of the foregoing:

 

(i)           
Each Lender that is a “United States person” (as defined in Section 7701(a)(30) of the Code) shall deliver to
the Borrower and the Administrative Agent on or before the date on which it becomes a party to this Agreement two properly completed and
duly signed original copies of Internal Revenue Service Form W-9 (or any successor form) certifying that such Lender is exempt from U.S.
federal backup withholding;

 

(ii)           Each
Lender that is not a “United States person” (as defined in Section 7701(a)(30) of the Code) shall deliver to the
Borrower and the Administrative Agent on or before the date on which it becomes a party to this Agreement (and from time to time
thereafter when required by Law or upon the reasonable request of the Borrower or the Administrative Agent) whichever of the
following is applicable:

 

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(A)           two
duly completed copies of Internal Revenue Service Form W-8BEN or Form W-8BEN-E, as applicable (or any successor forms) claiming eligibility
for benefits of an income tax treaty to which the United States of America is a party,

 

(B)           
two duly completed copies of Internal Revenue Service Form W-8ECI (or any successor forms),

 

(C)           
in the case of a Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate,
in substantially the form of the applicable certificate as set forth in Exhibit N (any such certificate a “United States Tax
Compliance Certificate”), or any other form approved by the Administrative Agent, to the effect that such Lender is not (A)
a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder”
of the Borrower within the meaning of Section 881(c)(3)(B) of the Code or (C) a “controlled foreign corporation” described
in Section 881(c)(3)(C) of the Code, and that no payments in connection with the Loan Documents are effectively connected with such Lender’s
conduct of a U.S. trade or business and (y) two duly completed copies of Internal Revenue Service Form W-8BEN or Form W-8BEN-E, as applicable
(or any successor forms),

 

(D)           
to the extent a Lender is not the beneficial owner (for example, where the Lender is a partnership, or is a Lender that has granted
a participation), Internal Revenue Service Form W-8IMY (or any successor forms) of the Lender, accompanied by a Form W-8ECI, W-8BEN, W-8BEN-E,
United States Tax Compliance Certificate, Form W-9, Form W-8IMY (or other successor forms) or any other required information from each
beneficial owner, as applicable (provided that, if the Lender is a partnership (and not a participating Lender) and one or more
beneficial owners are claiming the portfolio interest exemption, the United States Tax Compliance Certificate may be provided by such
Lender on behalf of such beneficial owner(s)), or

 

(E)           
any other documentation prescribed by applicable requirements of U.S. federal income tax Law (including FATCA) as a basis for claiming
any applicable exemption from or reduction in U.S. federal withholding Tax duly completed, together with such supplementary documentation
as may be prescribed by applicable requirements of Law or reasonably requested by the Borrower or the Administrative Agent to permit the
Borrower and the Administrative Agent to determine the withholding or deduction required to be made.

 

Notwithstanding any other provision of this clause
‎(f), a Lender shall not be required to deliver any form that such
Lender is not legally eligible to deliver.

 

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(g)           
 The Administrative Agent shall provide the Borrower with two duly completed original copies of Internal Revenue Service Form W-9
certifying it is exempt from U.S. federal backup withholding, and shall update such forms periodically upon the reasonable request of
the Borrower.

 

(h)           
For the avoidance of doubt, the term “Lender” shall, for purposes of this ‎Section
3.01, include any L/C Issuer.

 

Section 3.02.     
Illegality.

 

(a)           
If any Lender determines that any Law has made it unlawful, or that any Governmental Authority that is a court, statutory board
or commission has asserted that it is unlawful, for any Lender or its Applicable Lending Office to perform any of its obligations hereunder
or make, maintain or fund or charge interest with respect to any Credit Extension or to determine or charge interest rates based upon
the Eurodollar Rate as contemplated by this Agreement, then, on notice thereof by such Lender to the Borrower through the Administrative
Agent, in respect of Eurodollar Rate Loans, (A) any obligation of such Lender to issue, make, maintain, fund or charge interest with respect
to any such Credit Extension or continue Eurodollar Rate Loans or to convert Base Rate Loans to Eurodollar Rate Loans shall be suspended
until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination no longer
exist, (B) upon receipt of such notice, the Borrower shall upon demand from such Lender (with a copy to the Administrative Agent), prepay
in the case of Eurodollar Rate Loans, such Eurodollar Rate Loans that have become unlawful or, if applicable, convert all Eurodollar Rate
Loans of such Lender to Base Rate Loans, either on the last day of the Interest Period therefor, if such Lender may lawfully continue
to maintain such Eurodollar Rate Loans to such day, or promptly, if such Lender may not lawfully continue to maintain such Eurodollar
Rate Loans, (C) upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted
and all amounts due, if any, in connection with such prepayment or conversion under ‎Section
3.05. Each Lender agrees to designate a different Applicable Lending Office if such designation will avoid the need for any such notice
and will not, in the good faith judgment of such Lender, otherwise be materially disadvantageous to such Lender.

 

(b)           
If any provision of this Agreement or any of the other Loan Documents would obligate the Borrower to make any payment of interest
with respect to any of the Revolving Credit Exposure or other amount payable to the Administrative Agent or any Revolving Credit Lender
in an amount or calculated at a rate which would be prohibited by any Law then, notwithstanding such provision, such amount or rates shall
be deemed to have been adjusted with retroactive effect to the maximum amount or rate of interest, as the case may be, as would not be
so prohibited by any applicable law or so result in a receipt by the Administrative Agent or such Revolving Credit Lender of interest
with respect to its Revolving Credit Exposure at a criminal rate, such adjustment to be effected, to the extent necessary, as follows:

 

(i)           
first, by reducing the amount or rates of interest required to be paid to the Administrative Agent or the affected Revolving
Credit Lender under ‎Section 2.08; and

 

(ii)           thereafter, by reducing any fees, commissions, premiums and other amounts required to be paid to the Administrative Agent
or the affected Revolving Credit Lender which would constitute interest with respect to the Revolving Credit Exposure for purposes of
any applicable law.

 

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Section 3.03.     
Inability to Determine Rates.

 

(a)           
If in connection with any request for a Eurodollar Rate Loan or a conversion to or continuation thereof, (b) the Administrative
Agent determines that (i) Dollar deposits are not being offered to banks in the London interbank Eurodollar market for the applicable
amount and Interest Period of such Eurodollar Rate Loan, or (ii) adequate and reasonable means do not exist for determining the Eurodollar
Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan or in connection with an existing or proposed Base
Rate Loan (in each case with respect to clause (a)(i) above, “Impacted Loans”), or (c) the Administrative Agent determines
that for any reason the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan does not adequately
and fairly reflect the cost to such Lenders of funding such Eurodollar Rate Loan, the Administrative Agent will promptly so notify the
Borrower and each Lender. Thereafter, (x) the obligation of the Lenders to make or maintain Eurodollar Rate Loans shall be suspended (to
the extent of the affected Eurodollar Rate Loans or Interest Periods) and (y) in the event of a determination described in the preceding
sentence with respect to the Eurodollar Rate component of the Base Rate, the utilization of the Eurodollar Rate component in determining
the Base Rate shall be suspended, in each case until the Administrative Agent upon the instruction of the affected Lenders revokes such
notice. Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of
Eurodollar Rate Loans (to the extent of the affected Eurodollar Rate Loans or Interest Periods) or, failing that, will be deemed to have
converted such request into a request for a Committed Borrowing of Base Rate Loans in the amount specified therein.

Notwithstanding the foregoing, if the Administrative Agent has made the determination described in clause (a)(i) of this section, the
Administrative Agent, in consultation with the Borrower and the affected Lenders, may establish an alternative interest rate for the Impacted
Loans, in which case, such alternative rate of interest shall apply with respect to the Impacted Loans until (1) the Administrative
Agent revokes the notice delivered with respect to the Impacted Loans under clause ‎(a) of the first sentence of this section,
(2) the Administrative Agent or the affected Lenders notifies the Administrative Agent and the Borrower that such alternative interest
rate does not adequately and fairly reflect the cost to such Lenders of funding the Impacted Loans, or (3) any Lender determines that
any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for such Lender or its Applicable Lending
Office to make, maintain or fund Loans whose interest is determined by reference to such alternative rate of interest or to determine
or charge interest rates based upon such rate or any Governmental Authority has imposed material restrictions on the authority of such
Lender to do any of the foregoing and provides the Administrative Agent and the Borrower written notice thereof.

 

(b)            Notwithstanding
anything to the contrary in this Agreement or any other Loan Document, if Administrative Agent determines (which determination shall
be conclusive absent manifest error), or Borrower or Required Lenders notify Administrative Agent (with, in the case of Required
Lenders, a copy to Borrower) that Borrower or Required Lenders (as applicable) have determined, that:

 

(i)           
adequate and reasonable means do not exist for ascertaining LIBOR for any Interest Period hereunder or any other tenors of LIBOR,
including because the LIBOR Screen Rate is not available or published on a current basis and such circumstances are unlikely to be temporary;

 

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(ii)           
the administrator of the LIBOR Screen Rate or a Governmental Authority having jurisdiction over Administrative Agent or such administrator
has made a public statement identifying a specific date after which LIBOR or the LIBOR Screen Rate shall no longer be made available,
or used for determining the interest rate of loans, provided that, at the time of such statement, there is no successor administrator
that is satisfactory to Administrative Agent that will continue to provide LIBOR after such specific date (such specific date, "Scheduled
Unavailability Date");

 

(iii)           the administrator of the LIBOR Screen Rate or a Governmental Authority having jurisdiction over such administrator has made a public
statement announcing that all Interest Periods and other tenors of LIBOR are no longer representative;

 

(iv)          syndicated
loans currently being executed, or that include language similar to that contained in this Section, are being executed or amended (as
applicable) to incorporate or adopt a new benchmark interest rate to replace LIBOR;

then, in the case of clauses (i) through (iii) above, on a date and time determined by Administrative Agent (any such date, "LIBOR
Replacement Date"), which date shall be at the end of an Interest Period or on the relevant interest payment date, as applicable,
for interest calculated and shall occur within a reasonable period of time after the occurrence of any of the events or circumstances
under clauses (i), (ii) or (iii) above and, solely with respect to clause (ii) above, no later than the Scheduled Unavailability Date,
LIBOR will be replaced hereunder and under the other Loan Documents with, subject to the proviso below, the first available alternative
set forth in the order below for any payment period for interest calculated that can be determined by Administrative Agent, in each case,
without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document ("LIBOR
Successor Rate"; and any such rate before giving effect to the Related Adjustment, "Pre-Adjustment Successor Rate"):

 

(x)       Term
SOFR plus the Related Adjustment; and

 

(y)      SOFR
plus the Related Adjustment;

 

and in the case of
clause (iv) above, Administrative Agent and Borrower may amend this Agreement solely for the purpose of replacing LIBOR under this
Agreement and the other Loan Documents in accordance with the definition of "LIBOR Successor Rate" and such amendment will
become effective at 5:00 p.m. on the fifth Business Day after Administrative Agent shall have notified Lenders and Borrower of the
occurrence of the circumstances described in clause (d) above unless, prior to such time, Required Lenders have delivered to
Administrative Agent written notice that such Required Lenders object to the implementation of a LIBOR Successor Rate pursuant to
such clause; provided, that if Administrative Agent determines that Term SOFR has become available, is administratively
feasible for Administrative Agent and would have been identified as the Pre-Adjustment Successor Rate in accordance with the
foregoing if it had been so available at the time that the LIBOR Successor Rate then in effect was so identified, and notifies
Borrower and Lenders of such availability, then from and after the beginning of the Interest Period, relevant interest payment date
or payment period for interest calculated, in each case, commencing no less than 30 days after the date of such notice, the
Pre-Adjustment Successor Rate shall be Term SOFR and the LIBOR Successor Rate shall be Term SOFR plus the relevant Related
Adjustment.

 

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Administrative Agent will
promptly (in one or more notices) notify Borrower and Lenders of (x) any occurrence of any of the events, periods or circumstances under
clauses (i) through (iii) above, (y) a LIBOR Replacement Date, and (z) the LIBOR Successor Rate. Any LIBOR Successor Rate shall be applied
in a manner consistent with market practice; provided, that to the extent such market practice is not administratively feasible
for Administrative Agent, such LIBOR Successor Rate shall be applied in a manner as otherwise reasonably determined by Administrative
Agent. Notwithstanding anything else herein, if at any time any LIBOR Successor Rate as so determined would otherwise be less than 0.00%,
the LIBOR Successor Rate will be deemed to be 0.00% for the purposes of this Agreement and the other Loan Documents.

 

In connection with the implementation
of a LIBOR Successor Rate, Administrative Agent will have the right to make LIBOR Successor Rate Conforming Changes from time to time
and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such LIBOR Successor Rate
Conforming Changes will become effective without any further action or consent of any other party to this Agreement; provided,
that with respect to any such amendment effected, Administrative Agent shall post each such amendment implementing such LIBOR Successor
Rate Conforming Changes to Borrower and Lenders reasonably promptly after such amendment becomes effective.

 

If events or circumstances
of the type described in clauses (i) through (iii) above have occurred with respect to the LIBOR Successor Rate then in effect, then the
successor rate thereto shall be determined in accordance with the definition of "LIBOR Successor Rate."

 

(c)            Notwithstanding
anything to the contrary herein, (i) after any such determination by Administrative Agent or receipt by Administrative Agent of any
such notice described under Section 3.03(b)(i) through (iii), as applicable, if Administrative Agent determines that
none of the LIBOR Successor Rates is available on or prior to the LIBOR Replacement Date, (ii) if the events or circumstances
described in Section 3.03(b)(iv) have occurred but none of the LIBOR Successor Rates is available, or (iii) if the events or
circumstances of the type described in Section 3.03(b)(i) through (iii) have occurred with respect to the LIBOR
Successor Rate then in effect and Administrative Agent determines that none of the LIBOR Successor Rates is available, then in each
case, Administrative Agent and Borrower may amend this Agreement solely for the purpose of replacing LIBOR or any then current LIBOR
Successor Rate in accordance with this Section at the end of any Interest Period, relevant interest payment date or payment period
for interest calculated, as applicable, with another alternate benchmark rate giving due consideration to any evolving or then
existing convention for similar U.S. dollar denominated syndicated credit facilities for such alternative benchmarks and, in each
case, including any Related Adjustments and any other mathematical or other adjustments to such benchmark giving due consideration
to any evolving or then existing convention for similar U.S. dollar denominated syndicated credit facilities for such benchmarks,
which adjustment or method for calculating such adjustment shall be published on an information service as selected by
Administrative Agent from time to time in its discretion and may be periodically updated. For the avoidance of doubt, any such
proposed rate and adjustments shall constitute a LIBOR Successor Rate. Any such amendment shall become effective at 5:00 p.m. on the
fifth Business Day after Administrative Agent shall have posted such proposed amendment to Lenders and Borrower unless, prior to
such time, Required Lenders have delivered to Administrative Agent written notice that such Required Lenders object to such
amendment.

 

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(d)           
If, at the end of any Interest Period, relevant interest payment date or payment period for interest calculated, no LIBOR Successor
Rate has been determined in accordance with Section 3.03(b) or (c) and the circumstances under Section 3.03(b)(i)
or (iii) above exist or the Scheduled Unavailability Date has occurred (as applicable), Administrative Agent will promptly so notify
Borrower and Lenders. Thereafter, (i) the obligation of Lenders to make or maintain LIBOR Loans shall be suspended (to the extent of the
affected LIBOR Loans, Interest Periods, interest payment dates or payment periods), and (ii) the LIBOR component shall no longer be utilized
in determining Base Rate, until the LIBOR Successor Rate has been determined in accordance with Section 3.03(b) or (c).
Upon receipt of such notice, Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of LIBOR Loans
(to the extent of the affected Loans, Interest Periods, interest payment dates or payment periods) or, failing that, will be deemed to
have converted such request into a request for Base Rate Loans (subject to the foregoing clause (ii)).

 

Section 3.04.     
Increased Cost and Reduced Return; Capital Adequacy; Reserves on Eurodollar Rate Loans.

 

(a)           
If any Lender determines that as a result of any Change in Law or such Lender’s compliance therewith, there shall be any
increase in the cost to such Lender of agreeing to make or making, funding or maintaining any Loan (other than a Base Rate Loan) or issuing
or participating in Letters of Credit, or a reduction in the amount received or receivable by such Lender in connection with any of the
foregoing (excluding for purposes of this ‎Section 3.04(a) any such increased costs
or reduction in amount resulting from (i) Indemnified Taxes or Other Taxes indemnifiable by ‎Section
3.01, (ii) Excluded Taxes, or (iii) reserve requirements contemplated by ‎Section 3.04(c)),
then from time to time within fifteen (15) days after demand by such Lender setting forth in reasonable detail such increased costs (with
a copy of such demand to the Administrative Agent given in accordance with ‎Section
3.06), the Borrower shall pay to such Lender such additional amounts as will compensate such Lender for such increased cost or reduction.

 

(b)            If
any Lender determines that the introduction of any Law regarding capital adequacy or liquidity or any change therein or in the
interpretation thereof, in each case after the Closing Date, or compliance by such Lender (or its Applicable Lending Office)
therewith, has the effect of reducing the rate of return on the capital of such Lender or any corporation controlling such Lender as
a consequence of such Lender’s obligations hereunder (taking into consideration its policies with respect to capital adequacy
or liquidity and such Lender’s desired return on capital), then from time to time upon demand of such Lender setting forth in
reasonable detail the charge and the calculation of such reduced rate of return (with a copy of such demand to the Administrative
Agent given in accordance with ‎Section 3.06), the Borrower shall pay to such
Lender such additional amounts as will compensate such Lender for such reduction within fifteen (15) days after receipt of such
demand.

 

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(c)           
The Borrower shall pay to each Lender, (i) as long as such Lender shall be required to maintain reserves with respect to liabilities
or assets consisting of or including Eurocurrency funds or deposits, additional interest on the unpaid principal amount of each Eurodollar
Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith,
which determination shall be conclusive in the absence of demonstrable error), and (ii) as long as such Lender shall be required to comply
with any reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed in
respect of the maintenance of the Commitments or the funding of the Eurodollar Rate Loans, such additional costs (expressed as a percentage
per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment
or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive absent demonstrable error)
which in each case shall be due and payable on each date on which interest is payable on such Loan; provided that the Borrower
shall have received at least fifteen (15) days’ prior notice (with a copy to the Administrative Agent) of such additional interest
or cost from such Lender. If a Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional
interest or cost shall be due and payable fifteen (15) days after receipt of such notice.

 

(d)           
Subject to ‎Section 3.06(b), failure or delay on the part of any Lender to demand
compensation pursuant to this ‎Section 3.04 shall not constitute a waiver of such Lender’s
right to demand such compensation.

 

(e)           
If any Lender requests compensation under this ‎Section 3.04, then such Lender
will, if requested by the Borrower, use commercially reasonable efforts to designate another Applicable Lending Office for any Loan or
Letter of Credit affected by such event; provided that such efforts are made on terms that, in the reasonable judgment of such
Lender, cause such Lender and its Applicable Lending Office(s) to suffer no material economic, legal or regulatory disadvantage; and provided
further that nothing in this ‎Section 3.04(e) shall affect or postpone any of the Obligations
of the Borrower or the rights of such Lender pursuant to Section ‎3.04(a), ‎(b),
‎(c) or ‎(d).

 

Section 3.05.     
Funding Losses. Upon demand of any Lender (with a copy to the Administrative Agent) from time to time, the Borrower shall
promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of:

 

(a)           
any continuation, conversion, payment or prepayment of any Eurodollar Rate Loan on a day other than the last day of the Interest
Period for such Loan; or

 

(b)            
any failure by the Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or
convert any Loan (other than a Base Rate Loan) on the date or in the amount notified by the Borrower;

 

including any loss or expense
(excluding loss of anticipated profits or any LIBOR “floor”) arising from the liquidation or reemployment of
funds obtained by it to maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained.

 

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For purposes of calculating amounts payable by
the Borrower to the Lenders under this ‎Section 3.05, each Lender
shall be deemed to have funded each Eurodollar Rate Loan made by it at the Eurodollar Rate for such Loan by a matching deposit or other
borrowing in the London interbank eurodollar market for a comparable amount and for a comparable period, whether or not such Eurodollar
Rate Loan was in fact so funded.

 

Section 3.06.     
Matters Applicable to All Requests for Compensation.

 

(a)           
Any Agent or any Lender claiming compensation under this ‎Article 3 shall deliver
a certificate to the Borrower setting forth the additional amount or amounts to be paid to it hereunder which shall be conclusive in the
absence of demonstrable error. In determining such amount, such Agent or such Lender may use any reasonable averaging and attribution
methods.

 

(b)           
With respect to any Lender’s claim for compensation under Section ‎3.01,
Section ‎3.02, Section ‎3.03 or Section
‎3.04, the Borrower shall not be required to compensate such Lender for any amount incurred
more than one hundred and eighty (180) days prior to the date that such Lender notifies the Borrower of the event that gives rise to such
claim; provided that, if the circumstance giving rise to such claim is retroactive, then such 180-day period referred to above
shall be extended to include the period of retroactive effect thereof. If any Lender requests compensation by the Borrower under ‎Section
3.04, the Borrower may, by notice to such Lender (with a copy to the Administrative Agent), suspend the obligation of such Lender to make
or continue Eurodollar Rate Loans from one Interest Period to another, or to convert Base Rate Loans into Eurodollar Rate Loans, until
the event or condition giving rise to such request ceases to be in effect (in which case the provisions of ‎Section
3.06(c) shall be applicable); provided that such suspension shall not affect the right of such Lender to receive the compensation
so requested.

 

(c)           
If the obligation of any Lender to make or continue any Eurodollar Rate Loan from one Interest Period to another, or to convert
Base Rate Loans into Eurodollar Rate Loans shall be suspended pursuant to ‎Section 3.06(b)
hereof, such Lender’s Eurodollar Rate Loans shall be automatically converted into Base Rate Loans on the last day(s) of the then
current Interest Period(s) for such Eurodollar Rate Loans (or, in the case of an immediate conversion required by ‎Section
3.02, on such earlier date as required by Law) and, unless and until such Lender gives notice as provided below that the circumstances
specified in Section ‎3.01, Section ‎3.02,
Section ‎3.03 or Section ‎3.04 hereof
that gave rise to such conversion no longer exist:

 

(i)           
to the extent that such Lender’s Eurodollar Rate Loans have been so converted, all payments and prepayments of principal
that would otherwise be applied to such Lender’s Eurodollar Rate Loans shall be applied instead to its Base Rate Loans; and

 

(ii)           
 all Loans that would otherwise be made or continued from one Interest Period to another by such Lender as Eurodollar Rate Loans
shall be made or continued instead as Base Rate Loans, and all Base Rate Loans of such Lender that would otherwise be converted into Eurodollar
Rate Loans shall remain as Base Rate Loans.

 

(d)           
If any Lender gives notice to the Borrower (with a copy to the Administrative Agent) that the circumstances specified in Section
‎3.01, Section ‎3.02, Section ‎3.03
or Section ‎3.04 hereof that gave rise to the conversion of such Lender’s Eurodollar
Rate Loans pursuant to this ‎Section 3.06 no longer exist (which such Lender agrees
to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Loans made by other Lenders are outstanding, such
Lender’s Base Rate Loans shall be automatically converted to Eurodollar Rate Loans, on the first day(s) of the next succeeding Interest
Period(s) for such outstanding Eurodollar Rate Loans, to the extent necessary so that, after giving effect thereto, all Loans held by
the Lenders holding Eurodollar Rate Loans and by such Lender are held pro rata (as to principal amounts, interest rate basis, and Interest
Periods) in accordance with their respective Commitments.

 

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Section 3.07.     
Replacement of Lenders under Certain Circumstances.

 

(a)           
If at any time (i) any Lender requests reimbursement for amounts owing pursuant to Section ‎3.01
or Section ‎3.04 as a result of any condition described in such Sections or any Lender
ceases to make Eurodollar Rate Loans as a result of any condition described in Section ‎3.02
or Section ‎3.04, (ii) any Lender becomes a Defaulting Lender or (iii) any Lender becomes
a Non-Consenting Lender, then the Borrower may, on prior written notice to the Administrative Agent and such Lender, replace such Lender
by requiring such Lender to (and such Lender shall be obligated to) assign pursuant to ‎Section
10.07(b) (with the assignment fee to be paid by the Borrower in such instance) all of its rights and obligations under this Agreement
(or, with respect to clause ‎(iii) above, all of its rights and obligations with respect
to the Class of Loans or Commitments that is the subject of the related consent, waiver or amendment) to one or more Eligible Assignees;
provided that neither the Administrative Agent nor any Lender shall have any obligation to the Borrower to find a replacement Lender
or other such Person; and provided further that (A) in the case of any such assignment resulting from a claim for compensation
under ‎Section 3.04 or payments required to be made pursuant to ‎Section
3.01, such assignment will result in a reduction in such compensation or payments and (B) in the case of any such assignment resulting
from a Lender becoming a Non-Consenting Lender, the applicable Eligible Assignees shall have agreed to the applicable departure, waiver
or amendment of the Loan Documents.

 

(b)            Any
Lender being replaced pursuant to ‎Section 3.07(a) above shall (i) execute and
deliver an Assignment and Assumption with respect to such Lender’s Commitment and outstanding Loans and participations in L/C
Obligations, provided that the failure of any such Lender to execute an Assignment and Assumption shall not render such
assignment invalid and such assignment shall be recorded in the Register and (ii) deliver Notes, if any, evidencing such Loans to
the Borrower or Administrative Agent. Pursuant to such Assignment and Assumption, (A) the assignee Lender shall acquire all or a
portion, as the case may be, of the assigning Lender’s Commitment and outstanding Loans and participations in L/C Obligations,
(B) all obligations of the Borrower owing to the assigning Lender relating to the Loans and participations so assigned shall be paid
in full by the assignee Lender to such assigning Lender concurrently with such assignment and assumption, and any amounts owing to
the assigning Lender (other than a Defaulting Lender) under Section ‎2.05(a)(ii)
and Section ‎3.05 as a consequence of such assignment shall have been paid by the
Borrower to the assigning Lender and (C) upon such payment and, if so requested by the assignee Lender, the assignor Lender shall
deliver to the assignee Lender the appropriate Note or Notes executed by the Borrower, the assignee Lender shall become a Lender
hereunder and the assigning Lender shall cease to constitute a Lender hereunder with respect to such assigned Loans, Commitments and
participations, except with respect to indemnification provisions under this Agreement, which shall survive as to such assigning
Lender.

 

    101

     

    

 

(c)           
Notwithstanding anything to the contrary contained above, any Lender that acts as an L/C Issuer may not be replaced hereunder at
any time that it has any Letter of Credit outstanding hereunder unless arrangements reasonably satisfactory to such L/C Issuer (including
the furnishing of a back-up standby letter of credit in form and substance, and issued by an issuer reasonably satisfactory to such L/C
Issuer, or the depositing of cash collateral into a cash collateral account in amounts and pursuant to arrangements reasonably satisfactory
to such L/C Issuer) have been made with respect to each such outstanding Letter of Credit and the Lender that acts as the Administrative
Agent may not be replaced hereunder except in accordance with the terms of ‎Section
9.09.

 

(d)           
In the event that (i) the Borrower or the Administrative Agent has requested that the Lenders (A) consent to an extension of the
Maturity Date of any Class of Loans, (B) consent to a departure or waiver of any provisions of the Loan Documents or agree to any amendment
thereto, (ii) the consent, waiver or amendment in question requires the agreement of all affected Lenders in accordance with the terms
of ‎Section 10.01 or all the Lenders with respect to a certain Class of the Loans and
(iii) the Required Lenders have agreed to such consent, waiver or amendment (or the extending Lenders have agreed to such extension),
then any Lender who does not agree to such consent, waiver, amendment or extension shall be deemed a “Non-Consenting Lender.”

 

Section 3.08.     
Survival. All of the Borrower’s obligations under this ‎Article 3 shall survive termination of the Aggregate
Commitments and repayment of all other Obligations hereunder.

 

Article
4

Conditions Precedent to Credit Extensions

 

Section 4.01.     
Conditions of Initial Credit Extension. The obligation of each Lender to make Loans, and the obligation of the L/C Issuer
to issue Letters of Credit, on the Closing Date, is subject at the time of the making of such Loans or the issuance of such Letters of
Credit to the satisfaction of the following conditions on or before such date:

 

(a)           
Credit Agreement. This Agreement shall have been duly executed and delivered by each party to this Agreement and the exhibits
and schedules hereto shall be in form and substance reasonably satisfactory to the Lead Arrangers.

 

(b)           
 Pro Forma Compliance. After giving Pro Forma Effect to the Transaction (including the initial Credit Extension), the Borrower
and its Restricted Subsidiaries shall be in Pro Forma Compliance with the Financial Covenants.

 

    102

     

    

 

(c)           
Organization Documents. The Administrative Agent shall have received (i) a copy of the Organization Documents, including
all amendments thereto, of the Borrower and each Guarantor, certified, if applicable, as of a recent date by the Secretary of State or
other competent authority of the state of its organization, if applicable, or similar Governmental Authority, and a certificate as to
the good standing or comparable certificate under applicable law (where relevant) of the Borrower and each Guarantor as of a recent date
from the Closing Date, from such Secretary of State, similar Governmental Authority or other competent authority and (ii) a certificate
of the Secretary or Assistant Secretary or comparable officer under applicable law or director of the Borrower and each Guarantor dated
the Closing Date and certifying (where relevant) (A) that attached thereto is a true and complete copy of the Organization Documents of
the Borrower and each Guarantor as in effect on the Closing Date, (B) that attached thereto is a true and complete copy of resolutions
duly adopted by the board of directors (or equivalent governing body) of the Borrower and each Guarantor authorizing the execution, delivery
and performance of the Loan Documents to which such Person is a party and, the borrowings hereunder, and that such resolutions have not
been modified, rescinded or amended and are in full force and effect, (C) that the Organization Documents of the Borrower and each Guarantor
have not been amended since the date of the last amendment shown on such certificate, (D) as to (if applicable) the incumbency and specimen
signature of each officer executing any Loan Document on behalf of the Borrower and countersigned by another officer as to the incumbency
and specimen signature of the Secretary or Assistant Secretary or comparable officer under applicable law executing the certificate pursuant
to clause ‎(ii) above and (E) such other matters that are customarily included in a
certificate of this nature in the jurisdiction of its incorporation or organization.

 

(d)           
USA PATRIOT Act. The Lenders shall have received all documentation and other information required by regulatory authorities
with respect to the Borrower and each Guarantor reasonably requested by the Lenders under applicable “know your customer”
and anti-money laundering rules and regulations, including without limitation the USA PATRIOT Act, to the extent stipulated by the Administrative
Agent at least five (5) Business Days prior to the Closing Date.

 

(e)           
Legal Opinions. The Administrative Agent shall have received, on behalf of itself, the Collateral Agent, the Lenders and
the L/C Issuers, an opinion of Kirkland & Ellis LLP, special counsel for the Borrower.

 

(f)             Guaranty
and Security Agreement. Each of the Guaranty and the Security Agreement shall have been duly executed and delivered by each
party thereto and the Borrower shall have delivered or caused to have been delivered (i) Uniform Commercial Code financing
statements identifying the Borrower and all Guarantors as debtors, (ii) stock certificates of the Borrower’s Wholly-Owned
Subsidiaries that are Domestic Subsidiaries and that are required to be pledged pursuant to the Collateral and Guarantee
Requirement, together with undated stock powers duly executed in blank and (iii) instruments evidencing the pledged debt required to
be delivered to the Collateral Agent pursuant to the terms of the Security Agreement, together with undated instruments of transfer
duly executed in blank, (iv) certified copies of UCC, United States Patent and Trademark Office and United States Copyright Office,
tax and judgment lien searches, or equivalent reports or searches, each of a recent date listing all effective financing statements,
lien notices or comparable documents (together with copies of such financing statements and documents) that name any Loan Party as
debtor and that are filed in those state and county jurisdictions in which any Loan Party is organized or maintains its principal
place of business and such other searches that are required by Schedule II of the Security Agreement or that the Administrative
Agent deems necessary or appropriate, none of which encumber the Collateral covered or intended to be covered by the Collateral
Documents (other than Permitted Liens), and (v) evidence that all other actions, recordings and filings that the Administrative
Agent may deem necessary or desirable in order to perfect a first priority lien created under the Security Agreement has been taken
(including receipt of duly executed payoff letters and UCC-3 termination statements).

 

    103

     

    

 

(g)           
Insurance. Evidence that all insurance required to be maintained pursuant to the Loan Documents has been obtained and is
in effect, together with the certificates of insurance, naming the Administrative Agent, on behalf of the Secured Parties, as an additional
insured or loss payee, as the case may be, under all casualty insurance policies (including flood insurance policies) maintained with
respect to the assets and properties of the Loan Parties that constitutes Collateral.

 

(h)           
Consents, Licenses and Approvals. A certificate of a Responsible Officer of each Loan Party either (A) attaching copies
of all consents, licenses and approvals required in connection with the consummation by such Loan Party of the transactions under the
Loan Documents and the execution, delivery and performance by such Loan Party and the validity against such Loan Party of the Loan Documents
to which it is a party, and such consents, licenses and approvals shall be in full force and effect, or (B) stating that no such consents,
licenses or approvals are so required.

 

(i)            
Solvency. Certificate attesting to the Solvency of the Borrower and its Subsidiaries on a consolidated basis before and
after giving effect to the Transaction from its chief financial officer, on behalf of the Borrower.

 

(j)            
Pro Forma Balance Sheet. The Lenders shall have received a pro forma consolidated balance sheet of the Borrower as of the
last day of the most recently completed fiscal quarter ended at least 45 days prior to the Closing Date (or 90 days prior to the Closing
Date in case such fiscal quarter is the end of the Borrower’s fiscal year), prepared after giving effect to the Transaction as if
the Transaction had occurred as of such date, which need not be prepared in compliance with Regulation S-X of the Securities Act of 1933,
as amended, or include adjustments for purchase accounting (including adjustments of the type contemplated by Financial Accounting Standards
Board Accounting Standards Codification 805, Business Combinations (formerly SFAS 141R)).

 

(k)            Refinancing.
Concurrently with the funding of the Loans, all existing indebtedness for borrowed money of the Borrower and its Subsidiaries shall
have been paid in full, and all commitments, security interests and guaranties in connection therewith other than as expressly
permitted by this Agreement shall have been terminated and released, all to the reasonable satisfaction of the Lead Arrangers. After
giving effect to the consummation of the Transactions, the Borrower and its Subsidiaries shall have no outstanding Indebtedness for
borrowed money, except for Indebtedness (i) incurred pursuant to the Loans and (ii) expressly permitted by this Agreement.

 

(l)            
Fees, etc. Concurrently with the funding of the Loans, the Administrative Agent shall have received evidence of payment
of all fees, reasonable costs and expenses (including, without limitation, legal fees and expenses that have been invoiced at least three
(3) days before the Closing Date have been or will be paid) and other compensation contemplated hereby or by any other Loan Document on
or prior to the Closing Date to the Administrative Agent, the Lead Arrangers and the Lenders.

 

    104

     

    

 

(m)            
Request for Credit Extension. The Administrative Agent and, if applicable, the L/C Issuer shall have received a Committed
Loan Notice or Letter of Credit Application, as applicable, relating to the initial Credit Extension.

 

(n)           
Closing Certificate. The Administrative Agent shall have received a certificate signed by a Responsible Officer of the Borrower
certifying that the conditions set forth in ‎Sections 4.01(b), ‎4.02(a)
and ‎4.02(b) have been satisfied.

 

Subject to ‎Section
6.13, the making of the initial Credit Extension by the Lenders hereunder shall conclusively be deemed to constitute an acknowledgement
by the Administrative Agent and each Lender that each of the conditions precedent set forth in this ‎Section
4.01 shall have been satisfied in accordance with its respective terms or shall have been irrevocably waived by such Person.

 

Section 4.02.     
Conditions to All Credit Extensions. The obligation of each Lender to honor any Request for Credit Extension (other than
a Loan Notice requesting only a conversion of Committed Loans to the other Type or a continuation of Eurodollar Rate Loans), including
the Credit Extension on the Closing Date, is subject to the following conditions precedent:

 

(a)           
Representations. The representations and warranties of each Loan Party contained in ‎Article
5 or any other Loan Document, shall be true and correct in all respects or, in the case of such representations and warranties which are
not otherwise subject to a materiality qualification in accordance with its terms, shall be true and correct in all material respects,
in each case on and as of the date of such Credit Extension, except to the extent that such representations and warranties specifically
refer to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date.

 

(b)           
No Default. No Default shall exist or would result from such proposed Credit Extension or from the application of the proceeds
thereof.

 

(c)            Request
for Credit Extension. The Administrative Agent and, if applicable, the L/C Issuer shall have received a Request for Credit
Extension in accordance with the requirements hereof. Each Request for Credit Extension (other than a Committed Loan Notice
requesting only a conversion of Loans to the other Type or a continuation of Eurodollar Rate Loans) submitted by the Borrower shall
be deemed to be a representation and warranty that the applicable conditions specified in Sections ‎4.02(a)
and ‎(b) have been satisfied on and as of the date of the applicable Credit
Extension.

 

Section 4.03.     
Conditions to Restatement Effective Date. This Agreement shall become effective on the date that each of the following conditions
shall have been satisfied, except as otherwise agreed between the Borrower and the Administrative Agent:

 

    105

     

    

 

(a)           
Loan Documents. The Administrative Agent’s receipt of the following, in form and substance reasonably satisfactory
to the Administrative Agent:

 

(i)           
executed counterparts of this Agreement by each Loan Party and each Lender as of the Restatement Effective Date; and

 

(ii)           
a certificate, dated the Restatement Effective Date and signed by a Responsible Officer of the Borrower, confirming satisfaction
of the conditions set forth in Sections 4.03(c), (d) and (e)

 

(b)           
Fees, etc. The Administrative Agent shall have received evidence of payment of (i) all fees, reasonable costs and expenses
(including, without limitation, legal fees and expenses that have been invoiced at least three (3) days before the Restatement Effective
Date have been or will be paid) and other compensation contemplated hereby or by any other Loan Document on or prior to the Restatement
Effective Date to the Administrative Agent, the Lead Arrangers and the Lenders and (ii) all accrued and unpaid interest and fees in respect
of the loans and commitments outstanding under the Existing Credit Agreement immediately prior to the Restatement Effective Date.

 

(c)           
Representations. The representations and warranties of each Loan Party contained in ‎Article
5 or any other Loan Document, shall be true and correct in all respects or, in the case of such representations and warranties which are
not otherwise subject to a materiality qualification in accordance with its terms, shall be true and correct in all material respects,
in each case on and as of the date of such Credit Extension, except to the extent that such representations and warranties specifically
refer to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date.

 

(d)           
No Default. No Default shall exist or would result from such proposed Credit Extension or from the application of the proceeds
thereof.

 

    106

     

    

 

(e)           Organization
Documents. The Administrative Agent shall have received (i) a copy of the Organization Documents, including all amendments
thereto, of the Borrower and each Guarantor, certified, if applicable, as of a recent date by the Secretary of State or other
competent authority of the state of its organization, if applicable, or similar Governmental Authority, and a certificate as to the
good standing or comparable certificate under applicable law (where relevant) of the Borrower and each Guarantor as of a recent date
from the Restatement Effective Date, from such Secretary of State, similar Governmental Authority or other competent authority and
(ii) a certificate of the Secretary or Assistant Secretary or comparable officer under applicable law or director of the Borrower
and each Guarantor dated the Restatement Effective Date and certifying (where relevant) (A) that attached thereto is a true and
complete copy of the Organization Documents of the Borrower and each Guarantor as in effect on the Restatement Effective Date, (B)
that attached thereto is a true and complete copy of resolutions duly adopted by the board of directors (or equivalent governing
body) of the Borrower and each Guarantor authorizing the execution, delivery and performance of the Loan Documents to which such
Person is a party and, the borrowings hereunder, and that such resolutions have not been modified, rescinded or amended and are in
full force and effect, (C) that the Organization Documents of the Borrower and each Guarantor have not been amended since the date
of the last amendment shown on such certificate, (D) as to (if applicable) the incumbency and specimen signature of each officer
executing any Loan Document on behalf of the Borrower and countersigned by another officer as to the incumbency and specimen
signature of the Secretary or Assistant Secretary or comparable officer under applicable law executing the certificate pursuant to
clause ‎(ii) above and (E) such other matters that are customarily included in a
certificate of this nature in the jurisdiction of its incorporation or organization.

 

(f)            Legal
Opinions. The Administrative Agent shall have received, on behalf of itself, the Collateral Agent, the Lenders and the L/C Issuers,
an opinion of Kirkland & Ellis LLP, special counsel for the Borrower.

 

(g)           USA
PATRIOT Act and Beneficial Ownership Regulation. The Lenders shall have received all documentation and other information required
by regulatory authorities with respect to the Borrower and each Guarantor reasonably requested by the Lenders under applicable “know
your customer” and anti-money laundering rules and regulations, including without limitation the USA PATRIOT Act and (ii) with
respect to any Borrower that qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, a Beneficial
Ownership Certification to each Lender that so requests, in each case, to the extent stipulated by the Administrative Agent at least
five (5) Business Days prior to the Restatement Effective Date.

 

(h)           Guaranty
and Security Agreement. The Borrower shall have delivered or caused to have been delivered (i) Uniform Commercial Code financing
statements identifying the Borrower and all Guarantors as debtors, (ii) instruments evidencing the pledged debt required to be delivered
to the Collateral Agent pursuant to the terms of the Security Agreement, together with undated instruments of transfer duly executed
in blank, (iii) certified copies of UCC, United States Patent and Trademark Office and United States Copyright Office, tax and judgment
lien searches, or equivalent reports or searches, each of a recent date listing all effective financing statements, lien notices or comparable
documents (together with copies of such financing statements and documents) that name any Loan Party as debtor and that are filed in
those state and county jurisdictions in which any Loan Party is organized or maintains its principal place of business and such other
searches that are required by Schedule II of the Security Agreement or that the Administrative Agent deems necessary or appropriate,
none of which encumber the Collateral covered or intended to be covered by the Collateral Documents (other than Permitted Liens), and
(iv) evidence that all other actions, recordings and filings that the Administrative Agent may deem necessary or desirable in order to
perfect a first priority lien created under the Security Agreement has been taken (including receipt of duly executed payoff letters
and UCC-3 termination statements).

 

(i)             Insurance.
Evidence that all insurance required to be maintained pursuant to the Loan Documents has been obtained and is in effect, together
with the certificates of insurance, naming the Administrative Agent, on behalf of the Secured Parties, as an additional insured or
loss payee, as the case may be, under all casualty insurance policies (including flood insurance policies) maintained with respect
to the assets and properties of the Loan Parties that constitutes Collateral.

 

(j)            
Consents, Licenses and Approvals. A certificate of a Responsible Officer of each Loan Party either (A) attaching copies
of all consents, licenses and approvals required in connection with the consummation by such Loan Party of the transactions under the
Loan Documents and the execution, delivery and performance by such Loan Party and the validity against such Loan Party of the Loan Documents
to which it is a party, and such consents, licenses and approvals shall be in full force and effect, or (B) stating that no such consents,
licenses or approvals are so required.

 

    107

     

    

 

(k)           
Solvency. Certificate attesting to the Solvency of the Borrower and its Subsidiaries on a consolidated basis before and
after giving effect to the transactions on the Restatement Effective Date from its chief financial officer, on behalf of the Borrower.

 

(l)            
Request for Credit Extension. The Administrative Agent and, if applicable, the L/C Issuer shall have received a Committed
Loan Notice or Letter of Credit Application, as applicable, relating to the initial Credit Extension.

 

(m)            Pro Forma Compliance. After giving Pro Forma Effect to the Transaction (including the initial Credit Extension), the Borrower
and its Restricted Subsidiaries shall be in Pro Forma Compliance with the Financial Covenants.

 

Subject to ‎Section
6.13, the execution and delivery of this Agreement by the Lenders hereunder and funding of any amounts on the Restatement Effective Date
shall conclusively be deemed to constitute an acknowledgement by the Administrative Agent and each Lender that each of the conditions
precedent set forth in this ‎Section 4.01 shall have been satisfied
in accordance with its respective terms or shall have been irrevocably waived by such Person.

 

Article
5

Representations and Warranties

 

The Borrower represents and warrants to the Agents
and the Lenders that:

 

Section 5.01.      Existence,
Qualification and Power; Compliance with Laws. Each Loan Party and each other Restricted Subsidiary (a) is a Person duly
incorporated, organized or formed, and validly existing and (to the extent applicable in the relevant jurisdiction) in good standing
under the Laws of the jurisdiction of its incorporation or organization, except, in the case of any Restricted Subsidiaries, where
the failure of such Restricted Subsidiaries to be in good standing could not reasonably be expected to have a Material Adverse
Effect, (b) has all requisite power and authority to (i) own or lease its assets and carry on its business and (ii) execute, deliver
and perform its obligations under the Loan Documents to which it is a party, (c) (to the extent applicable in the relevant
jurisdiction) is duly qualified and in good standing under the Laws of each jurisdiction where its ownership, lease or operation of
properties or the conduct of its business requires such qualification, (d) is in compliance with all Laws, orders, writs,
injunctions and orders and (e) has all requisite governmental licenses, authorizations, consents and approvals to operate its
business as currently conducted; except in each case referred to in clause ‎(c), ‎(d) or ‎(e),
to the extent that failure to do so could not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect.

 

    108

     

    

 

Section 5.02.     
Authorization; No Contravention. The execution, delivery and performance by each Loan Party of each Loan Document to which
such Person is a party, and the consummation of the lending Transaction under the Loan Documents, are within such Loan Party’s corporate
or other powers, have been duly authorized by all necessary corporate or other organizational action, and do not and will not (a) contravene
the terms of any of such Person’s Organization Documents, (b) conflict with or result in any breach or contravention of, or the
creation of any Lien under (other than under the Loan Documents), or require any payment to be made under (i) any Contractual Obligation
to which such Person is a party or affecting such Person or the properties of such Person or any of its Subsidiaries or (ii) any material
order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Person or its property is subject;
or (c) violate any material Law; except with respect to any conflict, breach or contravention or payment (but not creation of Liens) referred
to in clause (b)(i), to the extent that such conflict, breach, contravention or payment could not, individually or in the aggregate, reasonably
be expected to have a Material Adverse Effect.

 

Section 5.03.     
Governmental Authorization; Other Consents. No approval, consent, exemption, authorization, or other action by, or notice
to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with (a) the execution, delivery
or performance by, or enforcement against, any Loan Party of this Agreement or any other Loan Document, or for the consummation of the
lending Transaction under the Loan Documents, (b) the grant by any Loan Party of the Liens granted by it pursuant to the Collateral Documents,
(c) the perfection or maintenance of the Liens created under the Collateral Documents (including the priority thereof), or (d) the exercise
by the Administrative Agent or any Lender of its rights under the Loan Documents or the remedies in respect of the Collateral pursuant
to the Collateral Documents, except for (i) filings necessary to perfect the Liens on the Collateral granted by the Loan Parties in favor
of the Secured Parties from and after the Closing Date, (ii) the approvals, consents, exemptions, authorizations, actions, notices and
filings which have been duly obtained, taken, given or made and are in full force and effect, (iii) approvals, consents, exceptions, authorization,
action, notice or filing under securities laws and (iv) those approvals, consents, exemptions, authorizations or other actions, notices
or filings, the failure of which to obtain or make could not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect.

 

Section 5.04.     
Binding Effect. This Agreement and each other Loan Document has been duly executed and delivered by each Loan Party that
is party thereto. This Agreement and each other Loan Document constitutes a legal, valid and binding obligation of such Loan Party, enforceable
against each Loan Party that is party thereto in accordance with its terms, except as such enforceability may be limited by Debtor Relief
Laws and by general principles of equity.

 

Section 5.05.     
Financial Statements; No Material Adverse Effect.

 

(a)            The
Audited Financial Statements and Unaudited Financial Statements fairly present in all material respects the financial condition of
the Borrower and its consolidated Subsidiaries as of the dates thereof and their results of operations for the period covered
thereby in accordance with GAAP consistently applied throughout the periods covered thereby.

 

(b)           
[Reserved].

 

(c)           
Since the Closing Date, there has been no event or circumstance, either individually or in the aggregate, that has had or could
reasonably be expected to have a Material Adverse Effect.

 

    109

     

    

 

 

Each Lender and the Administrative Agent hereby
acknowledges and agrees that the Borrower and its Subsidiaries may be required to restate historical financial statements as the result
of the implementation of changes in GAAP or the interpretation thereof, and that the fact of such restatements for such purpose only will
not, in and of itself, result in a Default under the Loan Documents.

 

Section 5.06.     
Litigation. Except as disclosed in Schedule ‎5.06, there are no actions, suits, proceedings, claims or disputes
pending or, to the knowledge of the Borrower, threatened in writing or contemplated, at law, in equity, in arbitration or before any Governmental
Authority, by or against the Borrower or any Restricted Subsidiary or against any of their properties or revenues that either individually
or in the aggregate, could reasonably be expected to have a Material Adverse Effect.

 

Section 5.07.     
Ownership of Property; Liens. Each Loan Party and each of its Subsidiaries has good and valid title in fee simple to, or
valid leasehold interests in, or easements or other limited property interests in, all property necessary in the ordinary conduct of its
business, free and clear of all Liens except for minor defects in title that do not materially interfere with its ability to conduct its
business or to utilize such assets for their intended purposes and Liens permitted under the Loan Documents and except, in each case,
where the failure to have such title or other interest could not reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect.

 

Section 5.08.     
Environmental Compliance.

 

(a)       Except as disclosed in Schedule ‎5.08, there are no pending or, to the knowledge
of the Borrower, threatened claims, actions, suits, notices of violation, notices of potential responsibility or liability, or proceedings
by or against any Loan Party or any of their respective Subsidiaries alleging actual or potential liability or responsibility for violation
of, or otherwise relating to, any applicable Environmental Law that could, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect.

 

(b)       Except as could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, (i) there is no
asbestos or asbestos-containing material on any property currently owned, leased or operated by any Loan Party or any Subsidiaries; and
(ii) there has been no Release or threatened Release of Hazardous Materials on, under or from any location in a manner which would reasonably
be expected to give rise to Environmental Liability of any of the Loan Parties or their respective Subsidiaries.

 

(c)       No Loan Party nor any of their respective Subsidiaries is undertaking, or has completed, either individually or together with
other persons, any investigation or response action relating to any actual or threatened Release of Hazardous Materials at any location,
either voluntarily or pursuant to the order of any Governmental Authority or the requirements of any applicable Environmental Law except
for such investigation or response action that, individually or in the aggregate, could not reasonably be expected to result in a Material
Adverse Effect.

 

    110

     

    

 

(d)       All Hazardous Materials transported from any property currently or formerly (during the time of such Loan Party or Subsidiary’s
ownership, lease or operation) owned, leased or operated by any Loan Party or any of their respective Subsidiaries for off-site disposal
have been disposed of in a manner which would not reasonably be expected to result, individually or in the aggregate, in a Material Adverse
Effect.

 

(e)       Except as could not reasonably be expected to result, individually or in the aggregate, in a Material Adverse Effect, none of the
Loan Parties nor any of their respective Subsidiaries is subject to or has contractually assumed any liability or obligation under or
relating to any applicable Environmental Law.

 

(f)        Except as could not reasonably be expected to result, individually or in the aggregate, in a Material Adverse Effect, the Loan
Parties and their respective Subsidiaries and their respective businesses, operations and properties are and have been in compliance with
all applicable Environmental Laws.

 

Section 5.09.     
Taxes. The Borrower and each Restricted Subsidiary have timely filed all federal, provincial, state, municipal, foreign
and other tax returns and reports required to be filed, and have timely paid all federal, provincial, state, municipal, foreign and other
taxes, assessments, fees and other governmental charges levied or imposed upon them or their properties, income or assets otherwise due
and payable (including in their capacity as a withholding agent), except those which are being contested in good faith by appropriate
proceedings diligently conducted and for which adequate reserves have been provided in accordance with GAAP and, except for failures to
file or pay as could not, either individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. There
are no Tax audits, deficiencies, assessments or other claims with respect to the Borrower or any Restricted Subsidiary that could, either
individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect.

 

Section 5.10.     
Compliance with ERISA.

 

(a)       Except as could not, either individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect, each
Plan is in compliance in with the applicable provisions of ERISA, the Code and other federal or state Laws.

 

(b)       (i)
No ERISA Event or similar event with respect to a Foreign Plan has occurred or is reasonably expected to occur; (ii) 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 4201 et seq. or 4243 of ERISA
with respect to a Multiemployer Plan; and (iii) neither any Loan Party nor any ERISA Affiliate has engaged in a transaction that
could be subject to Section 4069 or 4212(c) of ERISA, except, with respect to each of the foregoing clauses of this ‎Section
5.10, as could not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect.

 

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Section 5.11.     
Subsidiaries; Equity Interests. As of the Restatement Effective Date, neither the Borrower nor any other Loan Party has
any Subsidiaries other than those specifically disclosed in Schedule ‎5.11, and all of the outstanding Equity Interests in
the Borrower and its Subsidiaries have been validly issued, are fully paid and nonassessable (other than equity consisting of limited
liability company interests or partnership interests which, pursuant to the relevant organizational or formation documents, cannot be
fully paid and nonassessable) and all Equity Interests owned by any Loan Party are owned free and clear of all Liens except (i) those
created under the Collateral Documents and (ii) any nonconsensual Lien that is permitted under ‎Section 7.01. As of the Restatement
Effective Date, Schedule ‎5.11 (a) sets forth the name and jurisdiction of organization of each Subsidiary, (b) sets forth
the ownership interest of the Borrower and any of their Subsidiaries in each of their Subsidiaries, including the percentage of such ownership
and (c) identifies each Person the Equity Interests of which are required to be pledged on the Restatement Effective Date pursuant to
the Collateral and Guarantee Requirement.

 

Section 5.12.     
Margin Regulations; Investment Company Act.

 

(a)       No Loan Party is engaged nor will it engage, principally or as one of its important activities, in the business of purchasing or
carrying margin stock (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying
margin stock, and no proceeds of any Borrowings or drawings under any Letter of Credit will be used for any purpose that violates Regulation
U or Regulation X of the FRB.

 

(b)       None
of the Borrower or any Subsidiary is or is required to be registered as an “investment company” under the Investment
Company Act of 1940, as amended.

 

Section 5.13.     
Disclosure. No report, financial statement, certificate or other written information furnished by or on behalf of any Loan
Party to any Agent, any Lead Arranger or any Lender in connection with the transactions contemplated hereby and the negotiation or syndication
of this Agreement or delivered hereunder or any other Loan Document (as modified or supplemented by other information so furnished) when
taken as a whole contains when furnished any material misstatement of fact or omits to state any material fact necessary to make the statements
therein, in the light of the circumstances under which they were made, not materially misleading; provided that, with respect to
projected financial information, the Borrower represents only that such information was prepared in good faith based upon assumptions
believed to be reasonable at the time of preparation; it being understood that such projections may vary from actual results and that
such variances may be material.

 

Section 5.14.      Intellectual
Property; Licenses, etc. Each of the Loan Parties and the other Restricted Subsidiaries own, license or possess the legal right
to use, all of the trademarks, service marks, trade names, copyrights, domain names, patents, patent rights, technology, software,
know how, database rights, design rights and other intellectual property rights (collectively, “IP Rights”) that
are reasonably necessary for the operation of their respective businesses as currently conducted. To the knowledge of the Borrower,
no such IP Rights infringe upon any rights held by any Person except for such infringements, individually or in the aggregate, which
could not reasonably be expected to have a Material Adverse Effect. No claim or litigation regarding any such IP Rights, is pending
or, to the knowledge of the Borrower, threatened against any Loan Party or Subsidiary, which, either individually or in the
aggregate, could reasonably be expected to have a Material Adverse Effect.

 

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Section 5.15.     
Solvency. On the Restatement Effective Date after giving effect to the Loans and other transactions to be consummated on
such date, the Borrower and its Subsidiaries, on a consolidated basis, are Solvent.

 

Section 5.16.     
Collateral Documents. The Collateral Documents are effective to create in favor of the Collateral Agent for the benefit
of the Secured Parties legal, valid and enforceable Liens on, and security interests in, the Collateral and, (i) when all appropriate
filings or recordings are made in the appropriate offices as may be required under applicable Laws (which filings or recordings shall
be made to the extent required by any Collateral Document) and (ii) upon the taking of possession or control by the Collateral Agent of
such Collateral with respect to which a security interest may be perfected only by possession or control (which possession or control
shall be given to the Collateral Agent to the extent required by any Collateral Document), such Collateral Document will constitute fully
perfected Liens on (to the extent that perfection can be achieved under applicable Law by making such filings or recordings or taking
such possession or control), and security interests in, all right, title and interest of the Loan Parties in such Collateral, in each
case subject to no Liens other than the applicable Liens permitted under the Loan Documents.

 

Section 5.17.     
Use of Proceeds. The proceeds of the Term Loans and the Revolving Credit Loans shall be used in a manner consistent with
the uses set forth in the Preliminary Statements to this Agreement.

 

Section 5.18.     
Senior Indebtedness. The Obligations constitute “Senior Indebtedness” (or similar term) of the Borrower
under its Subordinated Debt Documents (if any).

 

Section 5.19.     
Anti-Money Laundering, Economic Sanctions Laws, and Anti-Corruption Law. (a) No Loan Party, none of its Subsidiaries and,
to the knowledge of senior management of the each Loan Party, none of the respective officers or directors of such Loan Party or such
Subsidiary (i) is in material violation of any applicable Anti-Money Laundering Law or (ii) has engaged or engages in any transaction,
investment, undertaking or activity that conceals the identity, source or destination of the proceeds from any category of offenses designated
in any applicable law, regulation or other binding measure implementing the “Forty Recommendations” and “Nine
Special Recommendations” published by the Organization for Economic Cooperation and Development’s Financial Action Task
Force on Money Laundering.

 

(b)       Neither
the Borrower nor any of its Subsidiaries or, to the knowledge of the Borrower or any of its Subsidiaries, any director, officer,
employee, agent, affiliate or representative of the Borrower or any of its Subsidiaries is an individual or entity, or is owned or
controlled by any individual or entity that is currently the subject of any sanctions administered or enforced by the United States
government (including, without limitation, the U.S. Department of Treasury’s Office of Foreign Assets Control
(“OFAC”)), the United Nations Security Council (“UNSC”), the European Union, Her
Majesty’s Treasury (“HMT”), or other relevant sanctions authority (collectively,
 “Sanctions”), nor is the Borrower or any of its Subsidiaries located, organized or resident in a Designated
Jurisdiction (including by being listed on OFAC’s List of Specially Designated Nationals, HMT’s Consolidated List of
Financial Sanctions Targets and the Investment Ban List, or any similar list enforced by any other relevant sanctions
authority).

 

(c)       No part of the proceeds of the Loans will be used, directly, or, to the knowledge of the Borrower, indirectly, for any payments
to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else
acting in an official capacity, or to any other Person, in order to obtain, retain or direct business or obtain any improper advantage,
in violation of the United States Foreign Corrupt Practices Act of 1977, as amended, or any other applicable anti-corruption Law.

 

(d)       The
Borrower has conducted its business in compliance with the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010
and other similar anti-corruption legislation in other jurisdictions, and have instituted and maintained policies and procedures designed
to promote and achieve compliance with such laws.

 

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Section 5.20.     
Labor Matters.

 

Except as set forth on Schedule ‎5.20,
there are no collective bargaining agreements or Multiemployer Plans covering the employees of the Borrower or any of its domestic Subsidiaries
as of the Restatement Effective Date and, as of the Restatement Effective Date, neither the Borrower nor any Subsidiary has suffered any
strikes, walkouts, work stoppages or other material labor difficulty within the last five years, which in any case could reasonably be
expected to have a Material Adverse Effect.

 

Section 5.21.     
EEA Financial Institutions. None of the Borrower or any Guarantor
is an EEA Financial Institution.

 

Section 5.22.     
Beneficial Ownership Regulation. As of the Restatement Effective Date, the information included in the Beneficial Ownership
Certification, if applicable, is true and correct in all respects.

 

Article
6

Affirmative Covenants

 

So long as any Lender shall have any Commitment
hereunder, any Loan or other Obligation hereunder which is accrued and payable shall remain unpaid or unsatisfied, or any Letter of Credit
shall remain outstanding, the Borrower shall, and shall (except in the case of the covenants set forth in Section ‎6.01,
Section ‎6.02 and Section ‎6.03)
cause each Restricted Subsidiary to:

 

Section 6.01.     
Financial Statements. Deliver to the Administrative Agent for prompt further distribution to each Lender:

 

(a)       within ninety (90) days after the end of the applicable fiscal year of the Borrower, a consolidated balance sheet of the Borrower
and its Subsidiaries as at the end of such fiscal year, and the related consolidated statements of income or operations, stockholders’
equity and cash flows for such fiscal year setting forth in each case in comparative form the figures for the previous fiscal year, all
in reasonable detail and prepared in accordance with GAAP, audited and accompanied by a report and opinion of an independent registered
public accounting firm of nationally recognized standing, which report and opinion shall be prepared in accordance with generally accepted
auditing standards and shall not be subject to any “going concern” or like qualification or exception (other than
an emphasis of matter paragraph) or any qualification or exception as to the scope of such audit (other than with respect to, or resulting
from, the regularly scheduled maturity of the Facilities);

 

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(b)       commencing
with the fiscal quarter ended March 31, 2021, within forty-five (45) days after the end of each fiscal quarter (other than the last fiscal
quarter of each fiscal year), a consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal quarter,
and the related (i) consolidated statements of income or operations for such fiscal quarter and for the portion of the fiscal year then
ended and (ii) consolidated statements of cash flows for the portion of the fiscal year then ended setting forth in each case in comparative
form the figures for the corresponding fiscal quarter of the previous fiscal year and the corresponding portion of the previous fiscal
year, all in reasonable detail and certified by a Responsible Officer of the Borrower as fairly presenting in all material respects the
financial condition, results of operations, stockholders’ equity and cash flows of the Borrower and its Subsidiaries in accordance
with GAAP, subject only to normal year-end adjustments and the absence of footnotes; and

 

(c)       simultaneously
with the delivery of each set of consolidated financial statements referred to in Sections ‎6.01(a)
and ‎(b) above the related consolidating financial statements reflecting the adjustments
necessary to eliminate the accounts of Unrestricted Subsidiaries (if any) from such consolidated financial statements.

 

Notwithstanding the foregoing, the obligations in paragraphs ‎(a)
and ‎(b) of this ‎Section
6.01 may be satisfied with respect to financial information of the Borrower and its Subsidiaries by furnishing (A) the applicable consolidated
financial statements of any direct or indirect parent of the Borrower that, directly or indirectly, holds all of the Equity Interests
of the Borrower or (B) the Borrower’s (or any direct or indirect parent thereof, as applicable) Form 10-K or 10-Q, as applicable,
filed with the SEC or (C) following an election by the Borrower pursuant to the definition of “GAAP,” the applicable
financial statements determined in accordance with IFRS; provided that, with respect to each of clauses ‎(A)
and ‎(B) (i) such information is accompanied by consolidating information
that explains in reasonable detail the differences between the information relating to the Borrower (or a parent of the Borrower, if such
information relates to such a parent), on the one hand, and the information relating to the Borrower and its Restricted Subsidiaries on
a standalone basis, on the other hand and (ii), to the extent such information is in lieu of information required to be provided under
‎Section 6.01(a), such materials are accompanied by a report and
opinion an independent registered public accounting firm of nationally recognized standing, which report and opinion shall be prepared
in accordance with generally accepted auditing standards.

 

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Section 6.02.     Certificates;
Other Information. Deliver to the Administrative Agent for prompt further distribution to each Lender:

 

(a)       no
later than five (5) days after the delivery of the financial statements referred to in Sections ‎6.01(a)
and ‎(b), a duly completed Compliance Certificate signed by a Responsible Officer of
the Borrower, including (i) a description of each event, condition or circumstance during the last fiscal quarter covered by such Compliance
Certificate requiring a prepayment under ‎Section 2.05(b), (ii) a list that identifies
each Domestic Subsidiary that is an Excluded Subsidiary solely by reason of clause (e) of the definition thereof as of the date of delivery
of such Compliance Certificate or a confirmation that there is no change in such information since the later of the Closing Date or the
date of the last such list and (iii) such other information required by the Compliance Certificate;

 

(b)       promptly after the same are publicly available, copies of all annual, regular, periodic and special reports and registration statements
which the Borrower files with the SEC or with any Governmental Authority that may be substituted therefor (other than amendments to any
registration statement (to the extent such registration statement, in the form it became effective, is delivered), exhibits to any registration
statement and, if applicable, any registration statement on Form S-8) and in any case not otherwise required to be delivered to the Administrative
Agent pursuant hereto;

 

(c)       promptly after the furnishing thereof, copies of any material requests or material notices received by any Loan Party or any of
its Subsidiaries (other than in the ordinary course of business) that could reasonably be expected to result in a Material Adverse Effect;

 

(d)       together
with the delivery of the financial statements pursuant to ‎Section 6.01(a) and each
Compliance Certificate pursuant to ‎Section 6.02(a) (commencing with the financial
statements for the fiscal year ended June 30, 2021), a report setting forth the information required by Section 3.03(c) of the Security
Agreement or confirming that there has been no change in such information since the Closing Date or the date of the last annual Compliance
Certificate;

 

(e)       promptly, such additional information regarding the business, legal, financial or corporate affairs of any Loan Party or any Material
Subsidiary, or compliance with the terms of the Loan Documents, as the Administrative Agent or any Lender through the Administrative Agent
may from time to time reasonably request; and

 

(f)        promptly following a request by any Lender, an updated Beneficial Ownership Certification with respect to any Borrower that qualifies
as a “legal entity customer” under the Beneficial Ownership Regulation.

 

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Documents required to be delivered pursuant
to Sections ‎6.01(a) and ‎(b)
or Sections ‎6.02(b) and ‎(c)
may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower
posts such documents, or provides a link thereto on the Borrower’s website on the Internet at the website address listed on
Schedule ‎10.02; or (ii) on which such documents are posted on
the Borrower’s behalf on IntraLinks/IntraAgency or another relevant website, if any, to which each Lender and the
Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent); provided
that: (i) upon written request by the Administrative Agent, the Borrower shall deliver paper copies of such documents to the
Administrative Agent for further distribution to each Lender until a written request to cease delivering paper copies is given by
the Administrative Agent and (ii) the Borrower shall notify (which may be by facsimile or electronic mail) the Administrative Agent
of the posting of any such documents and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft
copies) of such documents. The Administrative Agent shall have no obligation to request the delivery of or to maintain paper copies
of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Borrower with any
such request by a Lender for delivery, and each Lender shall be solely responsible for timely accessing posted documents or
requesting delivery of paper copies of such documents from the Administrative Agent and maintaining its copies of such
documents.

 

The Borrower hereby acknowledges that (a) the Administrative
Agent and/or the Lead Arrangers may, but shall not be obligated to, make available to the Lenders and the L/C Issuers materials and/or
information provided by or on behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the
Borrower Materials on IntraLinks, Syndtrak, ClearPar, or a substantially similar electronic transmission system (the “Platform”)
and (b) certain of the Lenders (each a “Public Lender”) may have personnel who do not wish to receive material non-public
information with respect to the Borrower or its Affiliates, or the respective securities of any of the foregoing, and who may be engaged
in investment and other market-related activities with respect to such Persons’ securities. The Borrower hereby agrees that so long
as the Borrower is the issuer of any outstanding debt or equity securities that are registered or issued pursuant to a private offering
or is actively contemplating issuing any such securities (w) all Borrower Materials that are to be made available to Public Lenders shall
be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC”
shall appear prominently on the first page thereof; (x) by marking Borrower Materials “PUBLIC,” the Borrower shall
be deemed to have authorized the Administrative Agent, the Lead Arrangers, the L/C Issuer and the Lenders to treat such Borrower Materials
as not containing any material non-public information (although it may be sensitive and proprietary) with respect to the Borrower or its
securities for purposes of United States federal and state securities laws (provided, however, that to the extent such Borrower
Materials constitute Information, they shall be treated as set forth in ‎Section
10.08); (y) all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform
designated as “Public Side Information”; and (z) the Administrative Agent and the Lead Arrangers shall be entitled
to treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the
Platform not designated “Public Side Information.” Notwithstanding the foregoing, the Borrower shall be under no obligation
to mark any Borrower Materials “PUBLIC.”

 

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Section 6.03.     
Notices. Promptly after a Responsible Officer obtains actual knowledge thereof, notify the Administrative Agent:

 

(a)       of the occurrence of any Default, which notice shall specify the nature thereof, the period of existence thereof and what action
the Borrower proposes to take with respect thereto;

 

(b)       any litigation or governmental proceeding (including, without limitation, pursuant to any applicable Environmental Laws) pending
against the Borrower or any of the Subsidiaries that could reasonably be expected to be determined adversely and, if so determined, to
result in a Material Adverse Effect; and

 

(c)       of
the occurrence of any ERISA Event or similar event with respect to a Foreign Plan that could reasonably be expected to have a Material
Adverse Effect.

 

Section 6.04.     
 [Reserved].

 

Section 6.05.     
Maintenance of Existence. (a) Preserve, renew and maintain in full force and effect its legal existence under the Laws of
the jurisdiction of its organization and (b) take all reasonable action to maintain all rights, privileges (including its good standing),
permits, licenses and franchises necessary or desirable in the normal conduct of its business, except in the case of clauses ‎(a)
(other than with respect to the Borrower) and ‎(b), (i) to the extent that failure to do so could not reasonably be expected
to have a Material Adverse Effect or (ii) pursuant to a transaction permitted by Section ‎7.04 or Section ‎7.05.

 

Section 6.06.     
Maintenance of Properties. Except if the failure to do so could not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect, (i) maintain, preserve and protect all of its material tangible properties and equipment necessary
in the operation of its business in good working order, repair and condition, ordinary wear and tear excepted and casualty or condemnation
excepted, and (ii) make all necessary renewals, replacements, modifications, improvements, upgrades, extensions and additions thereof
or thereto in accordance with prudent industry practice.

 

Section 6.07.     
Maintenance of Insurance. Maintain with financially sound and reputable insurance companies, insurance with respect to its
properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business,
of such types and in such amounts (after giving effect to any self-insurance reasonable and customary for similarly situated Persons engaged
in the same or similar businesses as the Borrower and its Restricted Subsidiaries) as are customarily carried under similar circumstances
by such other Persons. If any portion of any Mortgaged Property is at any time located in an area identified by the Federal Emergency
Management Agency (or any successor agency) as a special flood hazard area with respect to which flood insurance has been made available
under the National Flood Insurance Act of 1968 (as now or hereafter in effect or successor act thereto), then, to the extent required
by applicable Laws, the Borrower shall, or shall cause each Loan Party to, (i) maintain, or cause to be maintained, with a financially
sound and reputable insurer, flood insurance sufficient to comply with all applicable rules and regulations promulgated pursuant to the
Flood Insurance Laws in an amount reasonably satisfactory to the Administrative Agent and (ii) deliver to the Administrative Agent evidence
of such compliance in form and substance reasonably acceptable to the Administrative Agent, including, without limitation, evidence of
annual renewals of such insurance.

 

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Section 6.08.      Compliance
with Laws. (a) Comply in all respects with the requirements of all Laws and all orders, writs, injunctions, decrees and
judgments applicable to it or to its business or property (including without limitation Environmental Laws, ERISA and the USA
PATRIOT Act), except if the failure to comply therewith could not, individually or in the aggregate reasonably be expected to have a
Material Adverse Effect.

 

(b)       Conduct its businesses in compliance with the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010, and
other similar applicable anti-corruption legislation in other jurisdictions, and maintain policies and procedures designed to promote
and achieve compliance with such laws.

 

Section 6.09.     
Books and Records. Maintain proper books of record and account, in which entries that are full, true and correct in all
material respects and are in conformity with GAAP consistently applied shall be made of all material financial transactions and matters
involving the assets and business of the Borrower or such Subsidiary, as the case may be.

 

Section 6.10.     
Inspection Rights. Permit representatives and independent contractors of the Administrative Agent and each Lender to visit
and inspect any of its properties and to discuss its affairs, finances and accounts with its directors, officers, and independent public
accountants, all at the reasonable expense of the Borrower and at such reasonable times during normal business hours and as often as may
be reasonably desired, upon reasonable advance notice to the Borrower; provided that, excluding any such visits and inspections
during the continuation of an Event of Default, only the Administrative Agent on behalf of the Lenders may exercise rights of the Administrative
Agent and the Lenders under this ‎Section 6.10 and the Administrative Agent shall not exercise such rights more often than
one (1) time during any calendar year absent the existence of an Event of Default and only one (1) such time shall be at the Borrower’s
expense; provided further that when an Event of Default exists, the Administrative Agent or any Lender (or any of their respective
representatives or independent contractors) may do any of the foregoing at the expense of the Borrower at any time during normal business
hours and upon reasonable advance notice. The Administrative Agent and the Lenders shall give the Borrower the opportunity to participate
in any discussions with the Borrower’s independent public accountants. Notwithstanding anything to the contrary in this ‎Section
6.10, none of the Borrower or any Restricted Subsidiary will be required to disclose or permit the inspection or discussion of, any document,
information or other matter (i) that constitutes non-financial trade secrets or non-financial proprietary information, (ii) in respect
of which disclosure to the Administrative Agent or any Lender (or their respective representatives or contractors) is prohibited by Law
or any binding agreement or (iii) that is subject to attorney client or similar privilege or constitutes attorney work product.

 

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Section 6.11.     
Covenant to Guarantee Obligations and Give Security. At the Borrower’s expense, take all action necessary or reasonably
requested by the Administrative Agent to ensure that the Collateral and Guarantee Requirement continues to be satisfied, including:

 

(a)       upon
the formation or acquisition of any new direct or indirect Wholly-Owned Restricted Subsidiary (in each case, other than an Excluded Subsidiary)
by any Loan Party, the designation in accordance with ‎Section 6.14 of any existing
direct or indirect Wholly-Owned Subsidiary as a Restricted Subsidiary, or any Immaterial Subsidiary becoming a Material Subsidiary:

 

(i)         within forty-five (45) days after such formation, acquisition, designation or occurrence or such longer period as the Administrative
Agent may agree in its reasonable discretion:

 

(A)        cause
each such Restricted Subsidiary that is required to become a Guarantor under the Collateral and Guarantee Requirement to furnish to the
Administrative Agent a description of the Material Real Properties owned by such Restricted Subsidiary in detail reasonably satisfactory
to the Administrative Agent;

 

(B)         cause
each such Restricted Subsidiary that is required to become a Guarantor pursuant to the Collateral and Guarantee Requirement to duly execute
and deliver to the Administrative Agent or the Collateral Agent (as appropriate) the Guaranty (or supplement thereto), Mortgages, pledges,
assignments, Security Agreement Supplements and other security agreements and documents or joinders or supplements thereto (including
without limitation, with respect to Mortgages, the documents listed in ‎Section 6.13(b)),
to the extent required by the Collateral and Guarantee Requirement, the Security Documents or as otherwise reasonably requested by and
in form and substance reasonably satisfactory to the Administrative Agent and the Collateral Agent (consistent with the Mortgages, Security
Agreement and other Collateral Documents in effect on the Closing Date), in each case granting Liens required by the Collateral and Guarantee
Requirement;

 

(C)         cause each such Restricted Subsidiary that is required to become a Guarantor pursuant to the Collateral and Guarantee Requirement
to deliver any and all certificates representing Equity Interests (to the extent certificated) that are required to be pledged pursuant
to the Collateral and Guarantee Requirement, accompanied by undated stock powers or other appropriate instruments of transfer executed
in blank (or any other documents customary under local law) and instruments evidencing the Indebtedness held by such Restricted Subsidiary
and required to be pledged pursuant to the Collateral Documents, indorsed in blank to the Collateral Agent; and

 

(D)         take and cause such Restricted Subsidiary and each direct or indirect parent of such Restricted Subsidiary that is required to
become a Guarantor pursuant to the Collateral and Guarantee Requirement to take whatever action (including the recording of Mortgages,
the filing of financing statements and delivery of stock and membership interest certificates) may be necessary in the reasonable opinion
of the Collateral Agent to vest in the Collateral Agent (or in any representative of the Collateral Agent designated by it) valid and
perfected Liens required by the Collateral and Guarantee Requirement, enforceable against all third parties in accordance with their terms,
except as such enforceability may be limited by Debtor Relief Laws and by general principles of equity (regardless of whether enforcement
is sought in equity or at law); and

 

(ii)        as promptly as practicable after the request therefor by the Collateral Agent, deliver to the Collateral Agent with respect to
each Material Real Property, any existing title reports, title insurance policies and surveys or environmental assessment reports.

 

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(b)       after
the Closing Date, promptly after the acquisition of any Material Real Property (other than leasehold interests and other than any Material
Real Property subject to a Lien permitted pursuant to Section ‎7.01(i) or ‎(o))
by any Loan Party (or promptly after the date that any Material Real Property of any Loan Party is no longer subject to a Lien permitted
pursuant to Section ‎7.01(i) or ‎(o)),
if such Material Real Property shall not already be subject to a perfected Lien pursuant to the Collateral and Guarantee Requirement,
and is required to be the Borrower shall give notice thereof to the Administrative Agent and within 60 days of such acquisition (or such
longer period as the Administrative Agent may agree in its reasonable discretion) shall cause such real property to be subjected to a
Lien to the extent required by the Collateral and Guarantee Requirement and will take, or cause the relevant Loan Party to take, such
actions as shall be necessary or reasonably requested by the Administrative Agent or the Collateral Agent to grant and perfect or record
such Lien, including, as applicable, the actions referred to in paragraph (f) of the definition of Collateral and Guarantee Requirement.
Notwithstanding the foregoing, the Administrative Agent may exclude any Material Real Property that is acquired after the Restatement
Effective Date and located in a flood plain from the Collateral and Guarantee Requirement.

 

Section 6.12.     
Use of Proceeds.

 

(a)       Use the proceeds of the Term Loans to fund the (i) Refinancing and paying any breakage costs, redemption premiums and other fees,
costs and expenses payable in connection with such Refinancing and (ii) Transaction Expenses.

 

(b)       Use the proceeds of the Credit Extensions under the Revolving Credit Facility to finance general corporate and working capital
purposes of the Borrower and any of its Subsidiaries (including Capital Expenditures, Investments and Restricted Payments and any other
transaction not prohibited hereunder), the payment of fees, costs and expenses related to or arising in connection with the Transaction;
provided that in no event shall the proceeds of the Credit Extensions be used in contravention of any Law or of any Loan Document,
nor shall the Borrower, directly or indirectly, use the proceeds of the transaction, or lend, contribute or otherwise make available such
proceeds to any Subsidiary, joint venture partner or other Person, to fund any activities of or business with any Person, that is the
subject of Sanctions, or in a country or territory that is a Designated Jurisdiction, except to the extent such funding would be permissible
for Person required to comply with Sanctions, or in any other manner which would result in a violation by any Person (including any Lender,
any Lead Arranger, the Administrative Agent or any L/C Issuer) of Sanctions.

 

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Section 6.13.     
Further Assurances and Post-Closing Covenants.

 

(a)       Promptly
upon reasonable request by the Administrative Agent or the Collateral Agent (i) correct any material defect or error that may be
discovered in the execution, acknowledgment, filing or recordation of any Collateral Document or other filing, document or
instrument relating to any Collateral, and (ii) do, execute, acknowledge, deliver, record, re-record, file, re-file, register and
re-register any and all such further acts, deeds, certificates, assurances and other instruments as the Administrative Agent or the
Collateral Agent may reasonably request from time to time in order to carry out more effectively the purposes of this Agreement and
the Collateral Documents.

 

(b)       Within
forty-five (45) calendar days of the Closing Date (or such longer period as the Administrative Agent may agree in its sole discretion)
satisfy the applicable Collateral and Guarantee Requirements that were not satisfied on the Closing Date and within ten (10) calendar
days of the Closing Date (or such longer period as the Administrative Agent may agree in its sole discretion), satisfy ‎Section
4.01(g) to the extent not satisfied on the Closing Date.

 

(c)       Within
forty-five (45) calendar days of the Restatement Effective Date (or such longer period as the Administrative Agent may agree in its sole
discretion) satisfy clauses (f)(i) and (f)(ii) of the Collateral and Guarantee Requirement to the extent not satisfied on the Restatement
Effective Date.

 

Section 6.14.     
Designation of Subsidiaries.

 

The Borrower may at any time designate any Restricted
Subsidiary as an Unrestricted Subsidiary or any Unrestricted Subsidiary as a Restricted Subsidiary if (i) no Default or Event of Default
exists or would result therefrom and (ii) the Borrower and its Restricted Subsidiaries are in Pro Forma Compliance. The designation of
any Restricted Subsidiary as an Unrestricted Subsidiary shall constitute an Investment by the Borrower therein at the date of designation
in an amount equal to the fair market value of the Borrower’s investment therein. The designation of any Unrestricted Subsidiary
as a Restricted Subsidiary shall constitute the incurrence at the time of designation of any Indebtedness or Liens of such Subsidiary
existing at such time. Notwithstanding anything herein to the contrary, in no event shall (i) the Borrower designate any Subsidiary as
an Unrestricted Subsidiary if such Subsidiary owns any Material Intellectual Property or (ii) any Unrestricted Subsidiary own any Material
Intellectual Property.

 

Section 6.15.     
Payment of Taxes.

 

The Borrower will pay and discharge, and will cause
each of the Restricted Subsidiaries to pay and discharge, all taxes, assessments and governmental charges or levies imposed upon it or
upon its income or profits, or upon any properties belonging to it, in each case on a timely basis, and all lawful claims which, if unpaid,
may reasonably be expected to become a lien or charge upon any properties of the Borrower or any of the Restricted Subsidiaries not otherwise
permitted under this Agreement; provided that neither the Borrower nor any of the Restricted Subsidiaries shall be required to
pay any such tax, assessment, charge, levy or claim which is being contested in good faith and by proper proceedings if it has maintained
adequate reserves with respect thereto in accordance with GAAP or which would not reasonably be expected to, individually or in the aggregate,
constitute a Material Adverse Effect.

 

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Article
7 

Negative Covenants

 

So long as any Lender shall have any Commitment
hereunder, any Loan or other Obligation hereunder which is accrued and payable shall remain unpaid or unsatisfied, or any Letter of Credit
shall remain outstanding, the Borrower shall not, nor shall it permit any of its Restricted Subsidiaries to, directly or indirectly:

 

Section 7.01.     
Liens. Create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned
or hereafter acquired, other than the following:

 

(a)         Liens
pursuant to any Loan Document;

 

(b)         Liens existing on the Restatement Effective Date and set forth on Schedule ‎7.01(b);

 

(c)         Liens for taxes, assessments or governmental charges which are not overdue for a period of more than thirty (30) days or which
are being contested in good faith and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained
on the books of the applicable Person to the extent required in accordance with GAAP;

 

(d)         statutory
or common law Liens of landlords, carriers, warehousemen, mechanics, materialmen, repairmen, construction contractors or other like Liens
arising in the ordinary course of business which secure amounts not overdue for a period of more than sixty (60) days or if more than
sixty (60) days overdue, are unfiled (or if filed have been discharged or stayed) and no other action has been taken to enforce such
Lien or which are being contested in good faith and by appropriate proceedings diligently conducted, if adequate reserves with respect
thereto are maintained on the books of the applicable Person to the extent required in accordance with GAAP;

 

(e)         (i) pledges or deposits in the ordinary course of business in connection with workers’ compensation, unemployment insurance
and other social security legislation and (ii) pledges and deposits in the ordinary course of business securing liability for reimbursement
or indemnification obligations of (including obligations in respect of letters of credit or bank guarantees for the benefit of) insurance
carriers providing property, casualty or liability insurance to the Borrower or any Restricted Subsidiary;

 

(f)          deposits to secure the performance and payment of bids, trade contracts, governmental contracts and leases (other than Indebtedness
for borrowed money), statutory obligations, surety, stay, customs and appeal bonds, performance bonds and other obligations of a like
nature (including those to secure health, safety and environmental obligations) incurred in the ordinary course of business;

 

(g)         easements,
rights-of-way, restrictions, covenants, conditions, encroachments, protrusions and other similar encumbrances and minor title
defects affecting real property which, in the aggregate, do not in any case materially interfere with the ordinary conduct of the
business of the Borrower or any Restricted Subsidiary and any exception on the title polices issued in connection with the Mortgaged
Property;

 

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(h)         Liens securing judgments for the payment of money (or appeal or surety bonds relating to such judgments) not constituting an Event
of Default under ‎Section 8.01(h);

 

(i)          Liens securing Indebtedness permitted under ‎Section 7.03(f); provided
that (i) such Liens attach concurrently with or within two hundred and seventy (270) days after the acquisition, construction, repair,
replacement or improvement (as applicable) of the property subject to such Liens, (ii) such Liens do not at any time encumber any property
other than the property financed by such Indebtedness, replacements thereof and additions and accessions to such property and the proceeds
and the products thereof and customary security deposits, and (iii) with respect to Capitalized Leases, such Liens do not at any time
extend to or cover any assets (except for additions and accessions to such assets, replacements and products thereof and customary security
deposits) other than the assets subject to such Capitalized Leases; provided that individual financings of equipment provided by
one lender may be cross-collateralized to other financings of equipment provided by such lender;

 

(j)          leases, licenses, subleases or sublicenses and Liens on the property covered thereby, in each case, granted to others in the ordinary
course of business which do not (i) interfere in any material respect with the business of the Borrower or any Restricted Subsidiary,
taken as a whole, or (ii) secure any Indebtedness;

 

(k)         Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection
with the importation of goods in the ordinary course of business;

 

(l)          Liens (i) of a collection bank (including those arising under Section 4-210 of the Uniform Commercial Code) on the items in the
course of collection, and (ii) in favor of a banking or other financial institution arising as a matter of law encumbering deposits or
other funds maintained with a financial institution (including the right of set off) and which are within the general parameters customary
in the banking industry;

 

(m)        Liens
(i) on cash advances in favor of the seller of any property to be acquired in an Investment permitted pursuant to ‎Section
7.02(j) to be applied against the purchase price for such Investment and (ii) consisting of an agreement to Dispose of any property in
a Disposition permitted (or that is required to be permitted as a condition to closing such Disposition) under ‎Section
7.05 (other than ‎Section 7.05(e)), in each case, solely to the extent such Investment
or Disposition, as the case may be, would have been permitted on the date of the creation of such Lien;

 

(n)         [Reserved];

 

(o)         Liens
existing on property at the time of its acquisition or existing on the property of any Person at the time such Person becomes a
Restricted Subsidiary (other than by designation as a Restricted Subsidiary pursuant to ‎Section
6.14), in each case after the date hereof; provided that (i) such Lien was not created in contemplation of such acquisition
or such Person becoming a Restricted Subsidiary, (ii) such Lien does not extend to or cover any other assets or property (other than
the proceeds or products thereof and other than after-acquired property subjected to a Lien securing Indebtedness and other
obligations incurred prior to such time and which Indebtedness and other obligations are permitted hereunder that require, pursuant
to their terms at such time, a pledge of after-acquired property, it being understood that such requirement shall not be permitted
to apply to any property to which such requirement would not have applied but for such acquisition), and (iii) the Indebtedness
secured thereby is permitted under Section ‎7.03(f) or ‎(w);

 

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(p)         any interest or title of a lessor or sublessor under leases or subleases entered into by the Borrower or any of its Restricted
Subsidiaries in the ordinary course of business;

 

(q)         Liens arising out of conditional sale, title retention, consignment or similar arrangements for sale of goods entered into by the
Borrower or any of its Restricted Subsidiaries in the ordinary course of business;

 

(r)          Liens
that are contractual rights of set-off relating to purchase orders and other agreements entered into with customers of the Borrower or
any Restricted Subsidiary in the ordinary course of business;

 

(s)         Liens
arising from precautionary Uniform Commercial Code financing statement filings regarding operating leases or consignments entered into
in connection with any transaction otherwise permitted under this Agreement;

 

(t)          Liens
on insurance policies and the proceeds thereof securing the financing of the premiums with respect thereto;

 

(u)         any
zoning or similar law or right reserved to or vested in any Governmental Authority to control or regulate the use of any real property
that does not materially interfere with the ordinary conduct of the business of the Borrower or any Restricted Subsidiary;

 

(v)         Liens on specific items of inventory or other goods and the proceeds thereof securing such Person’s obligations in respect
of documentary letters of credit issued for the account of such Person to facilitate the purchase, shipment or storage of such inventory
or goods;

 

(w)        the modification, replacement, renewal or extension of any Lien permitted by clauses ‎(b),
‎(i) and ‎(o) of this ‎Section
7.01; provided that (i) the Lien does not extend to any additional property other than (A) after-acquired property that is affixed
or incorporated into the property covered by such Lien, and (B) proceeds and products thereof; and (ii) the renewal, extension or refinancing
of the obligations secured or benefited by such Liens is permitted by ‎Section 7.03;

 

(x)         ground leases in respect of real property on which facilities owned or leased by the Borrower or any of its Subsidiaries are located;

 

(y)         Liens
on property of a Non-Loan Party securing Indebtedness of such Non-Loan Party permitted to be incurred by ‎Section
7.03;

 

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(z)          Liens solely on any cash earnest money deposits made by the Borrower or any of its Restricted Subsidiaries in connection with
any letter of intent or purchase agreement permitted hereunder;

 

(aa)          [Reserved];

 

(bb)         Liens
securing Indebtedness permitted pursuant to ‎Section 7.03(m);

 

(cc)         other
Liens securing Indebtedness or other obligations in an aggregate principal amount at any time outstanding not to exceed the greater of
(x) $20,000,000 and (y) 2.5% of Total Assets (measured at the time of the incurrence of such Lien);

 

(dd)         Liens
securing Indebtedness permitted pursuant to ‎Section 7.03(x); provided that such Lien
is a Lien on the Collateral that is pari passu with the Lien securing the Obligations and may not be secured by any assets that are not
Collateral and the beneficiaries thereof (or an agent on their behalf) shall have entered into an intercreditor agreement with the Administrative
Agent that is reasonably satisfactory to the Administrative Agent;

 

(ee)          Liens securing Indebtedness permitted pursuant to ‎Section 7.03(w) (to the extent
such Indebtedness is incurred to finance a Permitted Acquisition); provided that such Lien is a Lien on the Collateral that is pari passu
with the Lien securing the Obligations and may not be secured by any assets that are not Collateral and the beneficiaries thereof (or
an agent on their behalf) shall have entered into an intercreditor agreement with the Administrative Agent that is reasonably satisfactory
to the Administrative Agent;

 

(ff)           Liens securing Indebtedness permitted pursuant to ‎Section 7.03(t); provided
that such Lien is a Lien on the Collateral that is pari passu with the Lien securing the Obligations and may not be secured by any assets
that are not Collateral and the beneficiaries thereof (or an agent on their behalf) shall have entered into an intercreditor agreement
with the Administrative Agent that is reasonably satisfactory to the Administrative Agent;

 

(gg)         with
respect to any Foreign Subsidiary, other Liens and privileges arising mandatorily by Law;

 

(hh)         Liens in favor of the Borrower or a Loan Party, provided that such Liens are subordinate to the Liens of the Collateral Documents;

 

(ii)           Liens
securing Swap Contracts entered into for bona fide hedging purposes of the Borrower or any of its Subsidiaries and not for the purpose
of speculation; and

 

(jj)            Liens
securing Indebtedness or other obligations of a Brazil Entity permitted pursuant to Section 7.03(s) and/or Guarantee Obligations of Loan
Parties permitted by Section 7.03(s) in respect of such Indebtedness or obligations of a Brazil Entity; provided that (i) in the case
of Guarantee Obligations of a Loan Party, such Lien is a Lien on the Collateral that is pari passu with the Lien securing the Obligations
and may not be secured by any assets that are not Collateral and the beneficiaries thereof (or an agent on their behalf) shall have entered
into an intercreditor agreement with the Administrative Agent that is reasonably satisfactory to the Required Lenders (it being agreed
that any such intercreditor agreement that is posted to the Lenders and not objected to by the Required Lenders within five (5) Business
Days shall be deemed so acceptable to the Required Lenders) (ii) in the case of Indebtedness or other obligations of a Brazil Entity,
such Lien is a Lien on accounts receivable of one or more Brazil Entities and may not be secured by any assets that are not accounts
receivable of a Brazil Entity;

 

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For purposes of determining compliance with this
Section 7.01, in the event that a Lien meets the criteria of more than one of the categories of Liens described in clauses ‎(a)
through ‎(ii) above, the Borrower may, in its sole discretion, divide, classify and
reclassify or later divide, classify or reclassify such Lien (or any portion thereof) in one or more of the above clauses; provided
that all Liens outstanding under the Loan Documents will be deemed to have been incurred in reliance only on the exception in clause ‎(a)
of this Section 7.01.

 

Section 7.02.     
Investments. Make any Investments, except:

 

(a)         Investments by the Borrower or a Restricted Subsidiary in assets that were Cash Equivalents when such Investment was made;

 

(b)         loans or advances to officers, directors, partners and employees of the Borrower or its Restricted Subsidiaries (i) for reasonable
and customary business-related travel, entertainment, relocation and analogous ordinary business purposes and (ii) for purposes not described
in the foregoing clause ‎(i) in an aggregate principal amount outstanding under this
clause (b)(ii) not to exceed $2,500,000;

 

(c)         asset
purchases (including purchases of inventory, supplies and materials) and the licensing or contribution of intellectual property pursuant
to joint marketing or other arrangements with other Persons, in each case in the ordinary course of business;

 

(d)         Investments (i) by any Loan Party in any other Loan Party, (ii) by any Subsidiary in any Loan Party, (iii) by any Non-Loan Party
in any other Non-Loan Party, (iv) by a Loan Party in a Non-Loan Party to the extent such Investment is made to fund all or any portion
of (and up to an amount not exceeding) an Investment by such Non-Loan Party in reliance on and in accordance with Section ‎7.02(j),
‎(t), or ‎(x) and (v) by any Loan
Party in any Non-Loan Party; provided that the aggregate amount of such Investments in Non-Loan Parties pursuant to clause ‎(v)
(excluding any Investments received in respect of, or consisting of, the transfer or contribution of Equity Interests in or Indebtedness
of any Foreign Subsidiary to any other Foreign Subsidiary that is a Restricted Subsidiary), as valued at cost at the time each such Investment
is made, shall not exceed (A) the greater of (x) $130,000,0001
and (y) 16.5% of Total Assets (measured at the time of the making of such Investment) plus (B) an amount equal to any distributions,
returns of capital or sale proceeds actually received by Loan Parties in cash in respect of any Investments under clause ‎(v)
(which amount shall not exceed the amount of such Investment valued at cost at the time such Investment was made);

 

(e)         Investments
consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from the grant of trade credit in
the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from financially troubled account
debtors and other credits to suppliers in the ordinary course of business;

 

 

1  NTD - Consistent
with grower and marketing term sheet.

 

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(f)          Investments consisting of Liens, Indebtedness, fundamental changes, Dispositions and Restricted Payments permitted under Section
‎7.01, Section ‎7.03 (other than Sections
‎7.03(d) and ‎(e)‎),
Section ‎7.04, Section ‎7.05 (other
than Sections ‎7.05(d)(ii), ‎(e) and
‎(p)) and Section ‎7.06 (other than
Section ‎7.06(d)), respectively; provided, however, that no Investments
may be made solely pursuant to this ‎Section 7.02(f);

 

(g)         Investments existing on the Restatement Effective Date and set forth on Schedule ‎7.02(g)
and Investments consisting of any modification, replacement, renewal, reinvestment or extension of any Investment existing on the Closing
Date; provided that the amount of any Investment permitted pursuant to this ‎Section
7.02(g) is not increased from the amount of such Investment on the Closing Date except pursuant to the terms of such Investment as of
the Closing Date or as otherwise permitted by this ‎Section 7.02;

 

(h)         Investments
in Swap Contracts permitted under ‎Section 7.03(g);

 

(i)          promissory notes and other noncash consideration received in connection with Dispositions permitted by Section ‎7.05
(other than Sections ‎7.05(d)(ii), ‎(e)
and ‎(p));

 

(j)          the purchase or other acquisition of property and assets or businesses of any Person or of assets constituting a business unit,
a line of business or division of such Person, or Equity Interests in a Person that, upon the consummation thereof, will be a Restricted
Subsidiary of the Borrower (including as a result of a merger or consolidation) (each, a “Permitted Acquisition”);
provided that (i) no Default or Event of Default shall have occurred and be continuing immediately before and immediately after
giving pro forma effect to such Permitted Acquisition, (ii) upon giving effect to such Permitted Acquisition, the Borrower shall be in
compliance with ‎Section 7.11, (iii) after giving Pro Forma Effect to such Permitted
Acquisition (including any assumption or incurrence of Indebtedness in connection therewith), the Borrower and its Restricted Subsidiaries
shall be in Pro Forma Compliance, (iv) the Borrower shall comply with Section ‎6.11
and Section ‎6.13 (within the time period specified therein), to the extent applicable,
and (v) the aggregate purchase consideration paid by Loan Parties for the acquisition of Persons that do not become Guarantors and assets
acquired by Non-Loan Parties shall not exceed the greater of (x) $200,000,000 and (y) 25.0% of Total Assets (measured at the time of the
making of such Investment), plus an amount equal to any distributions, returns of capital or sale proceeds actually received by
Loan Parties in cash in respect of any Investments made under this clause (v) (which amount shall not exceed the amount of such Investment
valued at cost at the time such Investment was made);

 

(k)         the
conversion or contribution of Indebtedness or other obligations from Subsidiaries to an Equity Interest in the obligor; provided that
any such conversion or contribution shall not result in an additional ability to make Investments in Non-Loan Parties in the amount of
such converted or contributed obligations;

 

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(l)          Investments in the ordinary course of business consisting of endorsements for collection or deposit and customary trade arrangements
with customers consistent with past practices;

 

(m)        Investments (including debt obligations and Equity Interests) received in connection with the bankruptcy or reorganization of suppliers
and customers or in settlement of delinquent obligations of, or other disputes with, customers and suppliers arising in the ordinary course
of business or upon the foreclosure with respect to any secured Investment or other transfer of title with respect to any secured Investment;

 

(n)         [Reserved];

 

(o)         advances of payroll payments to employees in the ordinary course of business;

 

(p)         [Reserved];

 

(q)         Investments held by a Restricted Subsidiary acquired after the Restatement Effective Date or of a corporation merged with the Borrower
or merged or consolidated with a Restricted Subsidiary in accordance with ‎Section 7.04
after the Restatement Effective Date to the extent that such Investments were not made in contemplation of or in connection with such
acquisition, merger or consolidation and were in existence on the date of such acquisition, merger or consolidation;

 

(r)          Guarantee Obligations of the Borrower or any Restricted Subsidiary in respect of leases (other than Capitalized Leases) or of other
obligations that do not constitute Indebtedness;

 

(s)         Investments
to the extent that payment for such Investments is made solely with Qualified Equity Interests of the Borrower;

 

(t)          other
Investments made after the Closing Date in an aggregate amount, as valued at cost at the time each such Investment is made, not to exceed
the greater of (x) $20,000,000 and (y) 2.5% of Total Assets (measured at the time of the making of such Investment), plus an amount
equal to any distributions, returns of capital or sale proceeds actually received by the Borrower or a Restricted Subsidiary in cash
in respect of any Investments made under this clause ‎(t) (which amount shall not exceed
the amount of such Investment valued at cost at the time such Investment was made);

 

(u)         [reserved];

 

(v)         Guarantee Obligations of the Borrower or any Restricted Subsidiary in connection with the provision of credit card payment processing
services;

 

(w)        contributions to a “rabbi” trust for the benefit of employees of the Borrower or the Restricted Subsidiaries
or other grantor trust subject to claims of creditors in the case of a bankruptcy of the Borrower;

 

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(x)            Investments
in any JV Entity and any Unrestricted Subsidiary in an aggregate amount as valued at cost at the time each such Investment is made
not to exceed the greater of (x) $25,000,000 and (y) 3.3% of Total Assets (measured at the time of the making of such Investment), plus an
amount equal to any distributions, returns of capital or sale proceeds actually received by the Borrower or any Restricted
Subsidiary in cash in respect of any Investments made under this clause (x) (which amount shall not exceed the amount of such
Investment valued at cost at the time such Investment was made);

 

(y)           
additional Investments; provided that after giving Pro Forma Effect thereto, (i) the Net Leverage Ratio (calculated on a Pro Forma
Basis) is not greater than 3.25:1.00 as of the last day of the Test Period most recently ended on or prior to the making of such Investment
and (ii) no Default or Event of Default shall have occurred and be continuing; and

 

(z)           
Investments utilizing the amount of any cash contributions or net cash proceeds from any Permitted Equity Issuance (or issuance
of debt securities that have been converted into or exchanged for Qualified Equity Interests) (other than any cash contributions or equity
or debt issuances to the extent utilized in connection with other transactions permitted pursuant to this Section 7.02 and Sections 7.06
or 7.09) received by or made to the Borrower after the Closing Date;

 

For purposes of determining compliance with this
‎Section 7.02, in the event that an Investment meets the criteria
of more than one of the categories of Investments described in clauses ‎(a)
through (z) above, the Borrower may, in its sole discretion, divide, classify and reclassify such Investment (or any portion thereof)
in one or more of the above clauses.

 

The accrual of interest, the accretion of accreted
value and the payment of interest in the form of additional Indebtedness shall not be deemed to be an Investment for purposes of this
‎Section 7.02.

 

Section 7.03.     
Indebtedness. Create, incur, assume or suffer to exist any Indebtedness, except:

 

(a)           
Indebtedness of the Borrower and any of its Subsidiaries under the Loan Documents;

 

(b)           
[reserved];

 

(c)           
Indebtedness existing on the Restatement Effective Date and listed on Schedule ‎7.03(c)
(the “Surviving Indebtedness”) and any Permitted Refinancing thereof;

 

(d)            Guarantee
Obligations of the Borrower and its Restricted Subsidiaries in respect of Indebtedness of the Borrower or any Restricted Subsidiary
otherwise permitted hereunder (including any guarantee of Indebtedness of a Brazil Entity permitted under Section 7.03(s)) (except
that a Non-Loan Party may not, by virtue of this ‎Section 7.03(d), guarantee
Indebtedness that such Non-Loan Party could not otherwise incur under this ‎Section
7.03); provided that, if the Indebtedness being guaranteed is subordinated to the Obligations, such Guarantee Obligation
shall be subordinated to the Guaranty of the Obligations on terms at least as favorable to the Lenders as those contained in the
subordination of such Indebtedness; provided that the Guarantee Obligations of Loan Parties in respect of Indebtedness of
Non-Loan Parties pursuant to this ‎Section 7.03(d) shall be permitted to the
extent constituting an Investment permitted by ‎Section 7.02 (other than ‎Section
7.02(f));

 

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(e)           
Indebtedness of the Borrower or any Restricted Subsidiary owing to the Borrower or any other Restricted Subsidiary to the extent
constituting an Investment permitted by ‎Section 7.02 (other than ‎Section
7.02(f)); provided that all such Indebtedness incurred following the Closing Date of any Loan Party owed to any Person that is
not a Loan Party shall be subject to the subordination terms set forth in ‎Section 5.02
of the Security Agreement;

 

(f)            
(i) Attributable Indebtedness and other Indebtedness (including Capitalized Leases) financing the acquisition, construction, repair,
replacement or improvement of fixed or capital assets (provided that such Indebtedness is incurred concurrently with or within
two hundred seventy (270) days after the applicable acquisition, construction, repair, replacement or improvement), (ii) Attributable
Indebtedness arising out of Permitted Sale Leasebacks; and (iii) any Indebtedness incurred to refinance the Indebtedness set forth in
the immediately preceding clauses (i) and (ii) so long as the principal amount (or accreted value, if applicable) thereof does not exceed
the principal amount (or accreted value, if applicable) of the Indebtedness so refinanced except by an amount equal to unpaid accrued
interest and premium thereon plus other reasonable amounts paid, and fees and expenses reasonably incurred, in connection with such refinancing
and by an amount equal to any existing commitments unutilized thereunder, and as otherwise permitted under ‎Section
7.03; provided that the aggregate principal amount of Indebtedness under this ‎Section
7.03(f) (other than customary fees, expenses and premiums associated with clause (iii)) does not exceed the greater of (a) $35,000,0002
and (b) 4.5% of Total Assets (measured at the time of the incurrence of such Indebtedness);

 

(g)           
Indebtedness in respect of Swap Contracts designed to hedge against interest rates, foreign exchange rates or commodities pricing
risks and not for speculative purposes;

 

(h)           
[reserved];

 

(i)            
Indebtedness representing deferred compensation to employees of the Borrower and its Restricted Subsidiaries incurred in the ordinary
course of business;

 

(j)            
Indebtedness to current or former officers, directors, partners, managers, consultants and employees, their respective estates,
spouses or former spouses to finance the purchase or redemption of Equity Interests of the Borrower permitted by ‎Section
7.06 in an aggregate amount not to exceed $2,500,000 at any one time outstanding;

 

(k)           
Indebtedness incurred by the Borrower or any of its Restricted Subsidiaries in a Permitted Acquisition, any other Investment expressly
permitted hereunder or any Disposition, in each case to the extent constituting indemnification obligations or obligations in respect
of purchase price (including earn-outs) or other similar adjustments;

 

(l)             Indebtedness
consisting of obligations of the Borrower or any of its Restricted Subsidiaries under deferred compensation or other similar
arrangements incurred by such Person in connection with the Transaction and Permitted Acquisitions or any other Investment expressly
permitted hereunder;

 

 

 2 NTD - Consistent with grower and marketing term
sheet.

 

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(m)           Cash Management Obligations and other Indebtedness in respect of netting services, automatic clearinghouse arrangements, overdraft
protections and similar arrangements in each case incurred in the ordinary course;

 

(n)           
Indebtedness consisting of (i) the financing of insurance premiums or (ii) take or pay obligations contained in supply arrangements,
in each case, in the ordinary course of business;

 

(o)           
Indebtedness incurred by the Borrower or any of its Restricted Subsidiaries in respect of letters of credit, bank guarantees, banker’s
acceptances, warehouse receipts or similar instruments issued or created in the ordinary course of business, including in respect of workers
compensation claims, health, disability or other employee benefits or property, casualty or liability insurance or self-insurance or other
Indebtedness with respect to reimbursement-type obligations regarding workers compensation claims;

 

(p)           
obligations in respect of performance, bid, appeal and surety bonds and performance and completion bonds and guarantees and similar
obligations provided by the Borrower or any of its Restricted Subsidiaries or obligations in respect of letters of credit, bank guarantees
or similar instruments related thereto, in each case in the ordinary course of business or consistent with past practice;

 

(q)           
Indebtedness supported by a Letter of Credit in a principal amount not to exceed the face amount of such Letter of Credit;

 

(r)             other
unsecured Indebtedness in an aggregate amount not to exceed the greater of (x) $20,000,000 and (y) 2.5% of Total Assets (measured at
the time of incurrence) at any one time outstanding; provided that the Borrower or any Restricted Subsidiary may incur
unlimited additional unsecured Indebtedness, so long as the Net Leverage Ratio as of the most recent Test Period (calculated
on a Pro Forma Basis after giving effect to the incurrence of such indebtedness and any related Specified Transaction) is not
greater than 5.00:1.00; provided, further, that (i) the aggregate principal amount of such Indebtedness incurred by Non-Loan
Parties shall not exceed the greater of (x) $65,000,000 and (y) 8.5% of Total Assets (measured at the time of incurrence); provided
that Indebtedness incurred pursuant to this Section 7.03(r) (together with any Indebtedness incurred or assumed by any Non-Loan
Party pursuant to Sections ‎7.03(s), ‎7.03(w)(i)
and 7.03(w)(ii)) shall not exceed (x) the greater of $65,000,000 and (y) 8.5% of Total Assets (measured at the time of incurrence)
in the aggregate, (ii) such Indebtedness has a final maturity date equal to or later than 91 days after the final maturity date of,
and has a Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of, the Term A Loans,
(iii) such Indebtedness does not have mandatory prepayment, redemption or offer to purchase events more favorable than the Term
Loans and Revolving Commitments, and (iv) the terms and conditions reflect market terms and conditions at the time of incurrence or
issuance; provided that the covenants and events of default are, taken as a whole, not materially tighter than or in addition to
those included in the Loan Documents (as determined by the Borrower in good faith) (except for covenants or other provisions
applicable only after the Latest Maturity Date, it being understood that to the extent any covenant is added for the benefit of such
Indebtedness, no consent shall be required from any Agent or any Lender to the extent that such covenant is also added for the
benefit of each Facility);

 

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(s)           
Indebtedness incurred by a Non-Loan Party (including Indebtedness incurred by any then-existing Brazil Entity for short-term pre-export
financing and any Permitted Receivables Financing), and guarantees thereof by Non-Loan Parties, in an aggregate principal amount not to
exceed the greater of (x) $65,000,000 and (y) 8.5% of Total Assets (measured at the time of incurrence); provided that Indebtedness
incurred pursuant to this ‎Section 7.03(s) (together with any Indebtedness incurred
or assumed by any Non-Loan Party pursuant to Sections‎ ‎7.03(r), ‎7.03(w)(i)
and 7.03(w)(ii)) shall not exceed the aggregate of (x) $65,000,000 and (y) 8.5% of Total Assets (measured at the time of incurrence) in
the aggregate;

 

(t)            
(i) Indebtedness (in the form of first lien secured notes or unsecured notes or loans) incurred by the Borrower to the extent that
the Borrower shall have been permitted to incur such Indebtedness pursuant to ‎Section
2.14(a) and with respect to any such Indebtedness incurred pursuant to ‎Section 2.14(a)(iii)
other than first lien secured notes, the Net Leverage Ratio does not exceed 5.00:1.00 on a Pro Forma Basis; provided such Indebtedness
incurred pursuant to Section 2.14(a)(i) and Section 2.14(a)(ii) shall be deemed to be usage of clauses (i) and/or (ii) of the Incremental
Facilities Cap, as applicable; provided that (A) such Indebtedness has a final maturity date equal to or later than 91 days after
the final maturity date of the Term A Loans, (B) as of the date of the incurrence of such Indebtedness, the Weighted Average Life to Maturity
of such Indebtedness shall not be shorter than that of the Term A Loans, (C) no Restricted Subsidiary is a borrower or guarantor with
respect to such Indebtedness unless such Restricted Subsidiary is a Subsidiary Guarantor which shall have previously or substantially
concurrently Guaranteed the Obligations, (D) if secured, such Indebtedness shall be secured on a pari passu basis by the Collateral, (E)
the terms and conditions reflect market terms and conditions at the time of incurrence or issuance; provided that the covenants and events
of default are, taken as a whole, not materially tighter than or in addition to those included in the Loan Documents (as determined by
the Borrower in good faith) (except for covenants or other provisions applicable only after the Latest Maturity Date, it being understood
that to the extent any covenant is added for the benefit of such incremental indebtedness, no consent shall be required from any Agent
or any Lender to the extent that such covenant is also added for the benefit of each Facility) and (F) the Borrower has delivered to the
Administrative Agent a certificate of a Responsible Officer, together with all relevant financial information reasonably requested by
the Administrative Agent, including reasonably detailed calculations demonstrating compliance with clauses ‎(A)
and ‎(B) (such Indebtedness incurred pursuant to this clause ‎(t)
being referred to as “Permitted Alternative Incremental Facilities Debt”);

 

(u)           
additional Indebtedness in an aggregate principal amount not to exceed the greater of (x) $45,000,000 and (y) 5.5% of Total Assets
(measured at the time of incurrence);

 

(v)           
[reserved];

 

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(w)           (i)
Indebtedness assumed in connection with any Permitted Acquisition, provided that such Indebtedness was not incurred in contemplation
of such Permitted Acquisition and no Default or Event of Default has occurred and is continuing, in an aggregate principal amount
(together with any Indebtedness incurred pursuant to clause (ii) below) not to exceed the greater of $20,000,000 and 2.5% of Total
Assets (measured at the time of incurrence), plus unlimited additional Indebtedness so long as (A) if such Indebtedness is secured
(other than to the extent secured solely by Liens that are junior to the Liens securing the Obligations or that are not on
Collateral (provided that obligations in respect of Capitalized Leases shall be deemed to be secured on Collateral for purposes of
this clause (A))) after giving Pro Forma Effect to such Permitted Acquisition and such Indebtedness, the First Lien Net Leverage
Ratio (calculated on a Pro Forma Basis) as of the most recent Test Period would not be greater than 3.50:1.00, (B) if such
Indebtedness is not covered by clause (A) above, after giving Pro Forma Effect to such Permitted Acquisition and such Indebtedness,
the Net Leverage Ratio (calculated on a Pro Forma Basis) as of the most recent Test Period would not be greater than 5.00:1.00 and
(C) the Borrower and its Restricted Subsidiaries are in Pro Forma Compliance; provided further, that the maximum aggregate
principal amount of Indebtedness that may be assumed pursuant to this ‎Section
7.03(w)(i) by Non-Loan Parties shall not exceed the greater of (x) $65,000,000 and (y) 8.5% of Total Assets (measured at the time of
incurrence); provided further that Indebtedness assumed pursuant to this ‎Section
7.03(w)(i) (together with any Indebtedness incurred or assumed by any Non-Loan Party pursuant to Sections ‎7.03(r), ‎7.03(s)
and ‎7.03(w)(ii)) shall not exceed the greater of (x) $65,000,000 and (y) 8.5% of
Total Assets (measured at the time of incurrence) in the aggregate;

 

(ii) Indebtedness (in the form of first lien
secured or unsecured notes or loans or secured notes or loans that are not secured by a lien on the Collateral) incurred to finance
a Permitted Acquisition, provided that no Default or Event of Default has occurred and is continuing, in an aggregate principal
amount (together with any Indebtedness incurred pursuant to clause ‎(i) above) not
to exceed the greater of $20,000,000 and 2.5% of Total Assets (measured at the time of incurrence), plus unlimited additional
Indebtedness so long as (A) if such Indebtedness is secured on a pari passu basis with the Liens on the Collateral securing
the Obligations, after giving Pro Forma Effect to such Permitted Acquisition and such Indebtedness, the First Lien Net Leverage
Ratio (calculated on a Pro Forma Basis) as of the most recent Test Period would not be greater than 3.50:1.00, (B) if such
Indebtedness is unsecured or is not secured by lien on the Collateral, after giving Pro Forma Effect to such Permitted Acquisition
and such Indebtedness, the Net Leverage Ratio (calculated on a Pro Forma Basis) as of the most recent Test Period would not be
greater than 5.00:1.00 and (C) the Borrower and its Restricted Subsidiaries are in Pro Forma Compliance; provided further,
that the maximum aggregate principal amount of Indebtedness that may be incurred pursuant to this Section 7.03(w)(ii) by Non-Loan
Parties shall not exceed the greater of (x) $65,000,000 and (y) 8.5% of Total Assets (measured at the time of incurrence); provided
further that Indebtedness incurred pursuant to this Section 7.03(w)(ii) (together with any Indebtedness incurred or assumed by
any Non-Loan Party pursuant to Sections ‎7.03(r), ‎7.03(s)
and 7.03(w)(i)) shall not exceed the greater of (x)$65,000,000 and (y) 8.5% of Total Assets (measured at the time of incurrence) in
the aggregate; provided further, that (1) such Indebtedness has a final maturity date equal to or later than 91 days after
the final maturity date of the Term A Loans, (2) as of the date of the incurrence of such Indebtedness, the Weighted Average Life to
Maturity of such Indebtedness shall not be shorter than that of the Term A Loans, (3) if secured, such Indebtedness shall be secured
on a pari passu basis by the Collateral, (4) the terms and conditions reflect market terms and conditions at the time of incurrence
or issuance; provided that the covenants and events of default are, taken as a whole, not materially tighter than or in addition to
those included in the Loan Documents (as determined by the Borrower in good faith) (except for covenants or other provisions
applicable only after the Latest Maturity Date, it being understood that to the extent any covenant is added for the benefit of the
lenders providing such Indebtedness, no consent shall be required from any Agent or any Lender to the extent that such covenant is
also added for the benefit of each Facility) and (5) the Borrower has delivered to the Administrative Agent a certificate of a
Responsible Officer, together with all relevant financial information reasonably requested by the Administrative Agent, including
reasonably detailed calculations demonstrating compliance with clauses (1) and (2);

 

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(iii) any Permitted Refinancing thereof;

 

(x)           
(i) Indebtedness incurred by the Borrower (in the form of term loans and revolving loans and, with respect to Indebtedness used
to prepay Term Loans, first lien secured or unsecured notes) to the extent that 100% of the Net Cash Proceeds therefrom are, immediately
after the receipt thereof, applied solely to the prepayment of Term Loans in accordance with ‎Section
2.05(b)(iii) or to the prepayment of Revolving Loans and concurrent termination of Revolving Commitments; provided that (A) such
Indebtedness shall not mature earlier than the Maturity Date with respect to the relevant Term Loans being refinanced or Revolving Commitments
being replaced, as applicable, (B) as of the date of the incurrence of such Indebtedness refinancing Term Loans, the Weighted Average
Life to Maturity of such Indebtedness shall not be shorter than that of the remaining Term Loans being refinanced, (C) no Restricted Subsidiary
is a borrower or guarantor with respect to such Indebtedness unless such Restricted Subsidiary is a Subsidiary Guarantor which shall have
previously or substantially concurrently Guarantied the Obligations, (D) if secured, such Indebtedness is secured on a pari passu basis
by the Collateral (E) the covenants and events of default are, taken as a whole, not materially more favorable to the investors providing
such refinancing indebtedness than those applicable to the Term Loans being refinanced or the Revolving Commitments being replaced, as
applicable, or otherwise reflect market terms and conditions (excluding pricing, call protection and optional prepayment or redemption
terms) on the date of issuance (as determined by the Borrower in good faith) (except for covenants or other provisions applicable only
after the Latest Maturity Date, it being understood that to the extent any covenant is added for the benefit of such refinancing indebtedness,
no consent shall be required from any Agent or any Lender to the extent that such covenant is also added for the benefit of each Facility)
and (F) the Borrower has delivered to the Administrative Agent a certificate of a Responsible Officer, together with all relevant financial
information reasonably requested by the Administrative Agent, including reasonably detailed calculations demonstrating compliance with
clauses ‎(A) and ‎(B) and (ii) any
Permitted Refinancing thereof;

 

(y)           
Guarantee Obligations of the Borrower or any Restricted Subsidiary in connection with the provision of credit card payment processing
services; and

 

(z)           
all premiums (if any), interest (including post-petition interest), fees, expenses, charges and additional or contingent interest
on obligations described in clauses ‎(a) through (y) above.

 

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For purposes of determining compliance with
any restriction on the incurrence of Indebtedness, the principal amount of Indebtedness denominated in a foreign currency shall be
calculated based on the Dollars exchange rate in effect on the date such Indebtedness was incurred, in the case of term debt, or
first committed, in the case of revolving credit debt; provided that if such Indebtedness is incurred to extend, replace,
refund, refinance, renew or defease other Indebtedness denominated in a foreign currency, and such extension, replacement,
refunding, refinancing, renewal or defeasance would cause the applicable restriction to be exceeded if calculated at the Dollars
exchange rate in effect on the date of such extension, replacement, refunding, refinancing, renewal or defeasance, such restriction
shall be deemed not to have been exceeded so long as the principal amount of such refinancing Indebtedness does not exceed the
principal amount of such Indebtedness being extended, replaced, refunded, refinanced, renewed or defeased.

 

For purposes of determining compliance with this
‎Section 7.03, in the event that an item of Indebtedness meets the
criteria of more than one of the categories of Indebtedness described in clauses ‎(a)
through ‎(y) above, the Borrower may, in its sole discretion, divide,
classify and reclassify or later divide, classify or reclassify such item of Indebtedness (or any portion thereof) in one or more of the
above clauses; provided that all Indebtedness outstanding under the Loan Documents will be deemed to have been incurred in reliance
only on the exception in clause ‎(a) of this ‎Section
7.03.

 

The accrual of interest, the accretion of accreted
value and the payment of interest in the form of additional Indebtedness shall not be deemed to be an incurrence of Indebtedness for purposes
of this ‎Section 7.03.

 

Section 7.04.     
Fundamental Changes. Merge, dissolve, liquidate, consolidate with or into another Person, or Dispose of (whether in one
transaction or in a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in
favor of any Person, except that:

 

(a)           
any Restricted Subsidiary may merge with (i) the Borrower (including a merger the purpose of which is to reorganize the Borrower
in a new State within the United States); provided that the Borrower shall be the continuing or surviving Person, or (ii) any one
or more other Restricted Subsidiaries; provided that when any Restricted Subsidiary that is a Loan Party is merging with another
Restricted Subsidiary, a Loan Party shall be the continuing or surviving Person;

 

(b)           
(i) any Subsidiary that is not a Loan Party may merge or consolidate with or into any other Subsidiary that is not a Loan Party,
(ii) (A) any Subsidiary may liquidate, wind up or dissolve, or (B) any Restricted Subsidiary may change its legal form, in each case,
if in either case, the Borrower determines in good faith that such action is in the best interests of the Borrower and its Subsidiaries
and is not materially disadvantageous to the Lenders and (iii) the Borrower may change its legal form if it determines in good faith that
such action is in the best interests of the Borrower and its Subsidiaries, and the Administrative Agent reasonably determines it is not
disadvantageous to the Lenders;

 

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(c)            any
Restricted Subsidiary may Dispose of all or substantially all of its assets (upon voluntary liquidation or otherwise) to another
Restricted Subsidiary; provided that if the transferor in such a transaction is a Loan Party, then (i) the transferee must be
a Loan Party or (ii) to the extent constituting an Investment, such Investment must be a permitted Investment in or Indebtedness of
a Restricted Subsidiary which is not a Loan Party in accordance with Section ‎7.02
(other than Section ‎7.02(f)) and Section ‎7.03,
respectively;

 

(d)           
so long as no Default exists or would result therefrom, any Restricted Subsidiary may merge with any other Person in order to effect
an Investment permitted pursuant to ‎Section 7.02 (other than ‎Section
7.02(f)); provided that the continuing or surviving Person shall be a Restricted Subsidiary, which together with each of its Restricted
Subsidiaries, shall have complied with the requirements of ‎Section 6.11;

 

(e)           
[reserved]; and

 

(f)            
so long as no Default exists or would result therefrom, a merger, dissolution, liquidation, winding up, consolidation or Disposition,
the purpose of which is to effect a Disposition permitted pursuant to ‎Section 7.05
(other than ‎Section 7.05(e)), may be effected.

 

Section 7.05.     
Dispositions. Make any Disposition, except:

 

(a)           
Dispositions of obsolete, worn out or surplus property, whether now owned or hereafter acquired, in the ordinary course of business
and Dispositions of property no longer used or useful in the conduct of the business of the Borrower and its Restricted Subsidiaries;

 

(b)           
Dispositions of inventory and immaterial assets in the ordinary course of business (including allowing any patent issuances, registrations
or any patent applications or applications for registration of any immaterial IP Rights to lapse or go abandoned in the ordinary course
of business);

 

(c)           
Dispositions of property to the extent that (i) such property is exchanged for credit against the purchase price of similar replacement
property that is promptly purchased or (ii) the proceeds of such Disposition are promptly applied to the purchase price of such replacement
property (which replacement property is actually promptly purchased);

 

(d)           
Dispositions of property to the Borrower or a Restricted Subsidiary; provided that if the transferor of such property is
a Loan Party (i) the transferee thereof must be a Loan Party or (ii) to the extent such transaction constitutes an Investment, such transaction
is permitted under ‎Section 7.02 (other than ‎Section
7.02(f)) or (iii) such Disposition shall consist of the transfer of Equity Interests in or Indebtedness of any Foreign Subsidiary to any
other Foreign Subsidiary that is a Restricted Subsidiary;

 

(e)           
Dispositions permitted by Section ‎7.02 (other than Section ‎7.02(f)),
Section ‎7.04 and Section ‎7.06 and
Liens (and realization on any Liens) permitted by ‎Section 7.01 (other than ‎Section
7.01(m));

 

(f)            
Dispositions in the ordinary course of business of Cash Equivalents;

 

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(g)           
leases, subleases, licenses or sublicenses, in each case in the ordinary course of business and which do not materially interfere
with the business of the Borrower and its Restricted Subsidiaries, taken as a whole;

 

(h)           
 transfers of property subject to Casualty Events;

 

(i)            
Dispositions of Investments in joint ventures to the extent required by, or made pursuant to customary buy/sell arrangements between,
the joint venture parties set forth in joint venture arrangements and similar binding arrangements;

 

(j)            
Dispositions of accounts receivable in the ordinary course of business in connection with the collection or compromise thereof;

 

(k)           
the unwinding of any Swap Contract pursuant to its terms;

 

(l)            
Permitted Sale Leasebacks;

 

(m)          
Dispositions not otherwise permitted pursuant to this ‎Section 7.05; provided
that (i) such Disposition shall be for fair market value as reasonably determined by the Borrower or the applicable Restricted Subsidiary
in good faith based on sales of similar assets, if available, (ii) the Borrower or the applicable Restricted Subsidiary complies with
the applicable provisions of ‎Section 2.05, and (iii) with respect to any Disposition
pursuant to this clause ‎(m) for a purchase price in excess of $10,000,000, the Borrower
or a Restricted Subsidiary shall receive not less than 75% of such consideration in the form of cash or Cash Equivalents; provided,
however, that for the purposes of this clause (iii), (A) any liabilities (as shown on the most recent balance sheet of the Borrower
provided hereunder or in the footnotes thereto) of the Borrower or any of its Restricted Subsidiaries, other than liabilities that are
by their terms subordinated in right of payment to the Obligations under the Loan Documents, that are assumed by the transferee with respect
to the applicable Disposition and for which the Borrower and all of the Restricted Subsidiaries shall have been validly released by all
applicable creditors in writing, shall be deemed to be cash, (B) any securities, notes or other obligations received by the Borrower or
any of its Restricted Subsidiaries from such transferee that are converted by the Borrower or such Restricted Subsidiary into cash or
Cash Equivalents (to the extent of the cash or Cash Equivalents received) within 180 days following the closing of the applicable Disposition,
shall be deemed to be cash and (C) any Designated Non-Cash Consideration received by the Borrower and its Restricted Subsidiaries in respect
of such Disposition having an aggregate fair market value, taken together with all other Designated Non-Cash Consideration received pursuant
to this clause ‎(m) that is at that time outstanding, not in excess of $20,000,000 at
the time of the receipt of such Designated Non-Cash Consideration (net of any non-cash consideration converted into cash and Cash Equivalents
received in respect of any such non-cash consideration), with the fair market value of each item of Designated Non-Cash Consideration
being measured at the time received and without giving effect to subsequent changes in value, shall be deemed to be cash;

 

(n)           
the abandonment or other Disposition of intellectual property which are reasonably determined by the Borrower, in good faith, to
be no longer economical, negligible, obsolete or otherwise not material to its business;

 

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(o)           
the Borrower and its Restricted Subsidiaries may surrender or waive contractual rights and settle or waive contractual or litigation
claims in the ordinary course of business;

 

(p)           
Dispositions of non-core or obsolete assets acquired in connection with Permitted Acquisitions;

 

(q)           
 any sale of Equity Interests in, or Indebtedness or other securities of, an Unrestricted Subsidiary;

 

(r)            
any forgiveness, writeoff or writedown of any intercompany obligations or obligations owing pursuant to ‎Section
7.02(b); provided that any forgiveness of obligations owing by a Non-Loan Party shall not result in additional ability to make
Investments in Non-Loan Parties in the amount of such forgiven obligations;

 

(s)           
any Disposition or series of related Dispositions not otherwise permitted pursuant to this ‎Section
7.05 in an amount not to exceed $10,000,000; and

 

(t)            
Dispositions for Cash Equivalents of accounts receivable of any Brazil Entity in connection with Indebtedness permitted under Section
7.03(s).

 

To the extent any Collateral is Disposed of as expressly permitted
by this ‎Section 7.05 to any Person other than the Borrower or any
Guarantor, such Collateral shall be sold free and clear of the Liens created by the Loan Documents and, if requested by the Administrative
Agent, upon the certification by the Borrower that such Disposition is expressly permitted by this Agreement, the Administrative Agent
or the Collateral Agent, as applicable, shall be authorized to take and shall take any actions deemed appropriate in order to effect the
foregoing.

 

Section 7.06.     
Restricted Payments. Declare or make, directly or indirectly, any Restricted Payment, except:

 

(a)           
each Restricted Subsidiary may make Restricted Payments to the Borrower and to other Restricted Subsidiaries (and, in the case
of a Restricted Payment by a non-wholly-owned Restricted Subsidiary, to the Borrower and any other Restricted Subsidiary and to each other
owner of Equity Interests of such Restricted Subsidiary based on their relative ownership interests of the relevant class of Equity Interests);

 

(b)           
(i) the Borrower may redeem in whole or in part any of its Equity Interests for another class of its Equity Interests or rights
to acquire its Equity Interests or with proceeds from substantially concurrent equity contributions or issuances of new Equity Interests;
provided that any terms and provisions material to the interests of the Lenders, when taken as a whole, contained in such other
class of Equity Interests are at least as advantageous to the Lenders as those contained in the Equity Interests redeemed thereby and
(ii) the Borrower and each Restricted Subsidiary may declare and make dividend payments or other distributions payable solely in the Equity
Interests (other than Disqualified Equity Interests not otherwise permitted by ‎Section
7.03) of such Person;

 

(c)           
[reserved];

 

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(d)           
to the extent constituting Restricted Payments, the Borrower and its Restricted Subsidiaries may enter into and consummate transactions
expressly permitted by any provision of Section ‎7.02 (other than Section ‎7.02(f))
or Section ‎7.04;

 

(e)           
 repurchases of Equity Interests in the ordinary course of business in the Borrower or any Restricted Subsidiary deemed to occur
upon exercise of stock options or warrants if such Equity Interests represent a portion of the exercise price of such options or warrants;

 

(f)            
the Borrower or any Restricted Subsidiary may, in good faith, pay for the repurchase, retirement or other acquisition or retirement
for value of Equity Interests of it held by any future, present or former employee, director, officer or consultant (or any Affiliates,
spouses, former spouses, other immediate family members, successors, executors, administrators, heirs, legatees or distributees of any
of the foregoing) of the Borrower or any of its Subsidiaries pursuant to any employee, management or director equity plan, employee, management
or director stock option plan or any other employee, management or director benefit plan or any agreement (including any stock subscription
or shareholder agreement) with any employee, director, officer or consultant of the Borrower or any Subsidiary; provided that such
payments do not to exceed $5,000,000 in any fiscal year; provided that any unused portion of the preceding basket for any calendar
year may be carried forward to succeeding calendar years, so long as the aggregate amount of all Restricted Payments made pursuant to
this ‎Section 7.06(f) in any calendar year (after giving effect to such carry forward)
shall not exceed $10,000,000; provided further that cancellation of Indebtedness owing to the Borrower or any of its Subsidiaries
from members of management of the Borrower or any of the Borrower’s Restricted Subsidiaries in connection with a repurchase of Equity
Interests of any of the Borrower will not be deemed to constitute a Restricted Payment for purposes of this covenant or any other provision
of this Agreement;

 

(g)           
netting of shares under stock option plans to settle option price payments owed to employees and officers of the Borrower with
respect thereto, and netting of shares to settle such employees’ and officers’ federal, state and income tax liabilities (if
any) related to restricted stock units and similar stock based awards thereunder;

 

(h)           
the Borrower or any Restricted Subsidiary may pay any dividend or distribution within 60 days after the date of declaration thereof,
if at the date of declaration such payment would have complied with the provisions of this Agreement;

 

(i)            
the Borrower or any Restricted Subsidiary may (a) pay cash in lieu of fractional Equity Interests in connection with any dividend,
split or combination thereof or any Permitted Acquisition and (b) honor any conversion request by a holder of convertible Indebtedness
and make cash payments in lieu of fractional shares in connection with any such conversion and may make payments on convertible Indebtedness
in accordance with its terms;

 

(j)            
the Borrower and each Restricted Subsidiary may declare and make dividend payments to or other distributions payable in Qualified
Equity Interests of such Person;

 

(k)           
[reserved];

 

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(l)             the
declaration and payment by the Borrower of dividends on the common stock or common equity interests of the Borrower in an amount not
to exceed in any fiscal year the greatest of (x) the aggregate amount of dividends on the common stock or common equity interests of
the Borrower paid by the Borrower in the prior fiscal year, (y) at the time of any such declaration by the Borrower, an amount equal
to 40% of the Consolidated Net Income of the Borrower for the Test Period most recently ended and (z) $22,000,000; provided that
no Default or Event of Default shall have occurred and be continuing at the time of the declaration of any such Restricted
Payment;

 

(m)           the Borrower or any Restricted Subsidiary may make additional Restricted Payment; provided that after giving Pro Forma Effect thereto,
(i) the Net Leverage Ratio (calculated on a Pro Forma Basis) is not greater than 3.00:1.00 as of the last day of the Test Period most
recently ended on or prior to the making of such Restricted Payment and (ii) no Default or Event of Default shall have occurred and be
continuing; and

 

(n)           
Restricted Payments utilizing the amount of any cash contributions or net cash proceeds from any Permitted Equity Issuance (or
issuance of debt securities that have been converted into or exchanged for Qualified Equity Interests) (other than any cash contributions
or equity or debt issuances to the extent utilized in connection with other transactions permitted pursuant to Sections 7.02, 7.06 or
7.09) received by or made to the Borrower after the Closing Date.

 

Section 7.07.     
 [Reserved].

 

Section 7.08.     
Transactions with Affiliates. Enter into any transaction of any kind with any Affiliate of the Borrower with a fair market
value in excess of $2,000,000, whether or not in the ordinary course of business, other than:

 

(a)           
transactions between or among the Borrower or any Restricted Subsidiary or any entity that becomes a Restricted Subsidiary as a
result of such transaction;

 

(b)           
transactions on terms not less favorable to the Borrower or such Restricted Subsidiary as would be obtainable by the Borrower or
such Restricted Subsidiary at the time in a comparable arm’s-length transaction with a Person other than an Affiliate;

 

(c)           
the Transaction and the payment of fees and expenses related to the Transaction;

 

(d)           
equity issuances, repurchases, redemptions, retirements or other acquisitions or retirements of Equity Interests by the Borrower
or any Restricted Subsidiary permitted under ‎Section 7.06;

 

(e)           
loans, Investments and other transactions by and among the Borrower and/or one or more Subsidiaries and joint ventures to the extent
permitted under (or not prohibited by) this ‎Article 7;

 

(f)            
employment and severance arrangements between the Borrower or any of its Subsidiaries and their respective officers and employees
in the ordinary course of business as determined in good faith by the board of directors or senior management of the relevant Person and
transactions pursuant to stock option plans and employee benefit plans and arrangements;

 

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(g)           
 the payment of customary fees and reasonable out of pocket costs to, and indemnities provided on behalf of, directors,
officers, employees and consultants of the Borrower and its Restricted Subsidiaries in the ordinary course of business;

 

(h)           
transactions pursuant to permitted agreements in existence on the Closing Date and disclosed or referenced in any Form 10-K, Form
10-Q, 8-K or proxy statement, as applicable, filed with the SEC prior to or on the Closing Date (excluding any Section entitled “Risk
Factors” therein) or any amendment thereto to the extent such an amendment is not adverse to the Lenders in any material respect;

 

(i)            
Restricted Payments permitted under ‎Section 7.06;

 

(j)            
the issuance of Equity Interests of the Borrower, including the issuance of such Equity Interests to any officer, director, employee
or consultant of the Borrower or any of its Subsidiaries; and

 

(k)           
Dispositions for Cash Equivalents of accounts receivable of any Brazil Entity in connection with Indebtedness permitted under Section
7.03(s).

 

Section 7.09.     
Prepayments, Etc., of Indebtedness.

 

(a)           
Prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner any Junior Debt (it
being understood that payments of regularly scheduled interest and mandatory prepayments (including AHYDO payments) under such Junior
Debt Documents shall be permitted), except for (i) the refinancing thereof with the Net Cash Proceeds of any Indebtedness (to the extent
such Indebtedness constitutes a Permitted Refinancing), (ii) the conversion thereof to Equity Interests (other than Disqualified Equity
Interests) of the Borrower and (iii) additional prepayments, redemptions, purchases, defeasances and other payments, provided that after
giving Pro Forma Effect thereto, (x) the Net Leverage Ratio (calculated on a Pro Forma Basis) is not greater than 3.00:1.00 as of the
last day of the Test Period most recently ended on or prior to the making of such prepayment, redemption, purchase, defeasance and other
payment and (y) no Default or Event of Default shall have occurred and be continuing.

 

(b)           
Amend, modify or change in any manner materially adverse to the interests of the Lenders any term or condition of the Junior Debt
Documents without the consent of the Required Lenders (not to be unreasonably withheld or delayed).

 

Section 7.10.     
Financial Covenants.

 

(a)           
Maximum First Lien Net Leverage Ratio. Permit the First Lien Net Leverage Ratio as of the last day of any Test Period, commencing
with the Test Period ending March 31, 2021 to be greater than 4.00:1.00.

 

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Notwithstanding the foregoing, at the
election of the Borrower, up to three times during the term of this Agreement, the First Lien Net Leverage Ratio set forth above may
be increased to accommodate a Qualifying Material Acquisition, as determined by the Borrower and as designated in the Compliance
Certificate or earlier notice given by the Borrower in connection with such Qualifying Material Acquisition; provided,
however, (i) such increase will not go into effect until the closing of such Permitted Acquisition and, at the Borrower’s
election, such increase shall apply either (x) for the fiscal quarter in which such Qualifying Material Acquisition is consummated
and the three full fiscal quarters immediately following the consummation thereof or (y) for the four fiscal quarters immediately
following the fiscal quarter in which such Qualifying Material Acquisition is consummated, and immediately upon the expiration of
the applicable time period referenced in clause (x) or (y) above, the required First Lien Net Leverage Ratio shall revert to 4.00 to
1.00 for the measurement period in which such step-down occurs; and (ii) in no event shall the First Lien Net Leverage Ratio after
giving effect to any such step-up exceed 4.50 to 1.00.

 

(b)           
Minimum Consolidated Interest Coverage Ratio. Permit the Consolidated Interest Coverage Ratio as of the last day of any
Test Period, commencing with the Test Period ending March 31, 2021 to be less than 3.00 to 1.00.

 

Section 7.11.     
Nature of Business. Engage in any material line of business substantially different from those lines of business conducted
by the Borrower and its Restricted Subsidiaries on the Closing Date or any business reasonably related or ancillary thereto.

 

Section 7.12.     
Burdensome Agreements. Enter into, or permit to exist, any Contractual Obligation that encumbers or restricts the ability
of (v) any Restricted Subsidiary to make Restricted Payments to any Loan Party, (w) any Restricted Subsidiary to make loans or advances
to any Loan Party, (x) any Restricted Subsidiary to transfer any of its property to any Loan Party, (y) the Borrower or any Restricted
Subsidiary to pledge its property pursuant to the Loan Documents or (z) any Loan Party to create, incur, assume or suffer to exist any
Lien upon any of their respective properties or revenues, whether now owned or hereafter acquired, for the benefit of the Secured Parties
with respect to the Obligations under the Loan Documents, except in respect of any of the matters referred to in clauses (v) through (z)
above:

 

(i)             
restrictions and conditions imposed by law or any Loan Document;

 

(ii)            
restrictions and conditions existing on the Closing Date or to any extension, renewal, amendment, modification or replacement thereof,
except to the extent any such amendment, modification or replacement expands the scope of any such restriction or condition;

 

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

 

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(iv)           
customary provisions in leases, licenses and other contracts restricting the assignment thereof;

 

(v)            
restrictions imposed by any agreement relating to secured Indebtedness permitted by this Agreement to the extent such restriction
applies only to the property securing such Indebtedness;

 

(vi)           
 restrictions or conditions set forth in any agreement in effect at any time any Person becomes a Restricted Subsidiary (but not
any modification or amendment expanding the scope of any such restriction or condition); provided that such agreement was not entered
into in contemplation of such Person becoming a Restricted Subsidiary and the restriction or condition set forth in such agreement does
not apply to the Borrower or any other Restricted Subsidiary;

 

(vii)           restrictions or conditions in any Indebtedness permitted pursuant to ‎Section
7.03 to the extent such restrictions or conditions are no more restrictive than the restrictions and conditions in the Loan Documents
or, in the case of Subordinated Debt, are market terms at the time of issuance (as determined by the Borrower in good faith) or, in the
case of Indebtedness of any Non-Loan Party, are imposed solely on such Non-Loan Party and its Subsidiaries and are market terms at the
time of issuance (as determined by the Borrower in good faith); provided that any such restrictions or conditions permit compliance
with the Collateral and Guarantee Requirement and ‎Section 6.11;

 

(viii)         
restrictions on cash or other deposits imposed by agreements entered into in the ordinary course of business; and

 

(ix)            encumbrances
and restrictions under the Organization Documents of JV Entities.

 

Section 7.13.     
Anti-Corruption Laws. Directly or, to the Borrower’s knowledge, indirectly use the proceeds of any Credit Extension
for any purpose which would breach the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010, and other similar
applicable anti-corruption legislation in other jurisdictions.

 

Article
8

Events of Default and Remedies

 

Section 8.01.     
Events of Default. Any of the following events referred to in any of clauses ‎(a) through ‎(k)
inclusive of this ‎Section 8.01 shall constitute an “Event of Default”:

 

(a)           
Non-Payment. Any Loan Party fails to pay (i) when and as required to be paid herein, any amount of principal of any Loan
or any reimbursement obligation in respect of any L/C Obligation or (ii) within five (5) Business Days after the same becomes due, any
interest on any Loan or any other amount payable hereunder or with respect to any other Loan Document; or

 

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(b)           
Specific Covenants. The Borrower fails to perform or observe any term, covenant or agreement contained in any of Section
‎6.03(a) or Section ‎6.05 (solely
with respect to the Borrower), Section ‎6.12, Section ‎6.14
or ‎Article 7; or

 

(c)           
Other Defaults. Any Loan Party fails to perform or observe any other covenant or agreement (not specified in Section ‎8.01(a)
or ‎(b) above) contained in any Loan Document on its part to be performed or observed
and such failure continues for thirty (30) days after receipt by the Borrower of written notice thereof by the Administrative Agent or
the Required Lenders; or

 

(d)           
Representations and Warranties. Any representation, warranty, certification or statement of fact made or deemed made by
or on behalf of any Loan Party herein, in any other Loan Document, or in any document required to be delivered in connection herewith
or therewith shall be incorrect or misleading in any material respect when made or deemed made and such incorrect or misleading representation,
warranty, certification or statement of fact, if capable of being cured, remains so incorrect or misleading for thirty (30) days after
receipt by the Borrower of written notice thereof by the Administrative Agent or the Required Lenders; or

 

(e)           
Cross-Default. Any Loan Party or any Restricted Subsidiary (A) fails to make any payment beyond the applicable grace period
with respect thereto, if any (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any
Indebtedness (other than Indebtedness hereunder) having an aggregate principal amount of not less than the Threshold Amount, or (B) fails
to observe or perform any other agreement or condition relating to any such Indebtedness, or any other event occurs (other than, with
respect to Indebtedness consisting of Swap Contracts, termination events or equivalent events pursuant to the terms of such Swap Contracts),
the effect of which default or other event is to cause, or to permit the holder or holders of such Indebtedness (or a trustee or agent
on behalf of such holder or holders or beneficiary or beneficiaries) to cause, after giving effect to any grace period, with the giving
of notice if required, all such Indebtedness to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise),
or an offer to repurchase, prepay, defease or redeem all such Indebtedness to be made, prior to its stated maturity; provided that
this clause (e)(B) shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property
or assets securing such Indebtedness, if such sale or transfer is permitted hereunder and under the documents providing for such Indebtedness;
provided, further, that such failure is unremedied and is not waived by the holders of such Indebtedness; or

 

(f)            
Insolvency Proceedings, Etc. Any Loan Party or any of the Restricted Subsidiaries institutes or consents to the institution
of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the
appointment of any receiver, interim receiver, receiver and manager, trustee, custodian, conservator, liquidator, rehabilitator, administrator,
administrative receiver or similar officer for it or for all or any material part of its property; or any receiver, interim receiver,
receiver and manager, trustee, custodian, conservator, liquidator, rehabilitator, administrator, administrative receiver or similar officer
is appointed without the application or consent of such Person and the appointment continues undischarged or unstayed for sixty (60) calendar
days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any material part of its property is instituted
without the consent of such Person and continues undismissed or unstayed for sixty (60) calendar days; or an order for relief is entered
in any such proceeding; or

 

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(g)           
Inability to Pay Debts; Attachment. (i) Any Loan Party or any Restricted Subsidiary becomes unable or admits in writing
its inability or fails generally to pay its debts as they become due, or (ii) any writ or warrant of attachment or execution or similar
process is issued or levied against all or any material part of the property of the Loan Parties, taken as a whole, and is not released,
vacated or fully bonded within sixty (60) days after its issue or levy; or

 

(h)           
Judgments. There is entered against any Loan Party or any Restricted Subsidiary a final judgment or order for the payment
of money in an aggregate amount exceeding the Threshold Amount (to the extent not covered by independent third-party insurance) and such
judgment or order shall not have been satisfied, vacated, discharged or stayed or bonded pending an appeal for a period of sixty (60)
consecutive days; or

 

(i)            
ERISA. (i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which has resulted or could reasonably
be expected to result in liability of any Loan Party or ERISA Affiliate under Title IV of ERISA in an aggregate amount which could reasonably
be expected to result in a Material Adverse Effect, (ii) any Loan Party or any ERISA Affiliate fails to pay when due, after the expiration
of any applicable grace period, any installment payment with respect to its Withdrawal Liability under Section 4201 of ERISA under a Multiemployer
Plan in an aggregate amount which could reasonably be expected to result in a Material Adverse Effect, (iii) any Loan Party or any ERISA
Affiliate shall have been notified by the sponsor of a Multiemployer Plan that such Multiemployer Plan is in reorganization or is being
terminated, within the meaning of Title IV of ERISA, and as a result of such reorganization or termination the aggregate annual contributions
of the Loan Parties and the ERISA Affiliates to all Multiemployer Plans that are then in reorganization or being terminated have been
or will be increased over the amounts contributed to such Multiemployer Plans for the plan years of such Multiemployer Plans immediately
preceding the plan year in which such reorganization or termination occurs by an aggregate amount which could reasonably be expected to
result in a Material Adverse Effect; or (iv) a termination, withdrawal or noncompliance with applicable law or plan terms or termination,
withdrawal or other event similar to an ERISA Event occurs with respect to a Foreign Plan that could reasonably be expected to result
in a Material Adverse Effect; or

 

(j)            
Invalidity of Loan Documents. Any material provision of this Agreement or any Collateral Document, at any time after its
execution and delivery and for any reason other than as expressly permitted hereunder or thereunder (including as a result of a transaction
permitted under Section ‎7.04 or Section ‎7.05)
or solely as a result of acts or omissions by the Administrative Agent or any Lender or the satisfaction in full of all the Obligations,
ceases to be in full force and effect; or any Collateral Document ceases to create a valid and perfected first priority lien on the Collateral
covered thereby (to the extent required hereby or thereby); or any Loan Party contests in writing the validity or enforceability of any
material provision of this Agreement or any Collateral Document; or any Loan Party denies in writing that it has any or further liability
or obligation under this Agreement or any Collateral Document (other than as a result of repayment in full of the Obligations and termination
of the Aggregate Commitments), or purports in writing to revoke or rescind this Agreement or any Collateral Document; or

 

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(k)           
Change of Control. There occurs any Change of Control.

 

Section 8.02.     
Remedies Upon Event of Default.

 

(a)           
If any Event of Default occurs and is continuing the Administrative Agent may and, at the request of the Required Lenders, shall
take any or all of the following actions:

 

(i)             
 declare the Commitment of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions to be terminated,
whereupon such Commitments and obligation shall be terminated;

 

(ii)            
declare the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing
or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other
notice of any kind, all of which are hereby expressly waived by the Borrower;

 

(iii)           
require that the Borrower Cash Collateralize the L/C Obligations (in an amount equal to the then Outstanding Amount thereof); and

 

(iv)           
exercise on behalf of itself and the Lenders all rights and remedies available to it and the
Lenders under the Loan Documents or applicable Law;

 

provided that upon the occurrence of an Event of Default under
‎Section 8.01(f) with respect to the Borrower, the obligation of
each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions shall automatically terminate, the unpaid
principal amount of all outstanding Loans and all interest and other amounts as aforesaid shall automatically become due and payable,
and the obligation of the Borrower to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in each
case without further act of the Administrative Agent or any Lender.

 

Section 8.03.     
Exclusion of Immaterial Subsidiaries. Solely for the purpose of determining whether a Default has occurred under clause
‎(f) or ‎(g) of ‎Section 8.01, any reference in any such clause to any Restricted Subsidiary or
Loan Party shall be deemed not to include any Subsidiary that is an Immaterial Subsidiary or at such time could, upon designation by the
Borrower, become an Immaterial Subsidiary affected by any event or circumstances referred to in any such clause unless the Consolidated
EBITDA of such Subsidiary together with the Consolidated EBITDA of all other Subsidiaries affected by such event or circumstance referred
to in such clause, shall exceed 5% of the Consolidated EBITDA of the Borrower and its Restricted Subsidiaries.

 

Section 8.04.     
Application of Funds. If the circumstances described in ‎Section 2.12(g) have occurred, or after the exercise
of remedies provided for in ‎Section 8.02 (or after the Loans have automatically become immediately due and payable and the
L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to ‎Section 8.02),
including in any bankruptcy or insolvency proceeding, any amounts received on account of the Obligations shall be applied by the Administrative
Agent in the following order:

 

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First, to payment of that portion of the Obligations
constituting fees, indemnities, expenses and other amounts (other than principal and interest, but including Attorney Costs payable under
‎Section 10.04 and amounts payable under ‎Article
3) payable to each Agent in its capacity as such;

 

Second, to payment of that portion of the Obligations
constituting fees, indemnities and other amounts (other than principal and interest) payable to the Lenders (including Attorney Costs
payable under ‎Section 10.04 and amounts payable under ‎Article
3), ratably among them in proportion to the amounts described in this clause Second payable to them;

 

Third, to payment of that portion of the Obligations
constituting accrued and unpaid interest (including, but not limited to, post-petition interest), ratably among the Lenders in proportion
to the respective amounts described in this clause Third payable to them;

 

Fourth, to payment of that portion of the Obligations
constituting unpaid principal, Unreimbursed Amounts or face amounts of the Loans and L/C Borrowings, the Swap Termination Value under
Secured Hedge Agreements and Cash Management Obligations, and to the Administrative Agent for the account of the L/C Issuers, to Cash
Collateralize that portion of L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit, ratably among the Secured
Parties in proportion to the respective amounts described in this clause Fourth held by them;

 

Fifth, to the payment of all other Obligations
of the Loan Parties that are due and payable to the Administrative Agent and the other Secured Parties on such date, ratably based upon
the respective aggregate amounts of all such Obligations owing to the Administrative Agent and the other Secured Parties on such date;
and

 

Last, the balance, if any, after all of the Obligations
(other than contingent indemnity obligations) have been paid in full, to the Borrower or as otherwise required by Law;

 

provided, however, that notwithstanding anything to the contrary
in this Agreement or any other Loan Document in no circumstances shall proceeds of any Collateral constituting an asset of a Loan Party
that is not a Qualified ECP Guarantor be applied towards the payment of any Obligations constituting Swap Obligations, but appropriate
adjustments shall be made with respect to payments from other Loan Parties to preserve the allocation to Obligations otherwise set forth
above in this Section.

 

Subject to ‎Section
2.03(c), amounts used to Cash Collateralize the aggregate undrawn amount of Letters of Credit pursuant to clause Fourth above shall be
applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all
Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the other Obligations, if any, in
the order set forth above and, if no Obligations remain outstanding, to the Borrower.

 

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Article
9

Administrative Agent and Other Agents

 

Section 9.01.     
Appointment and Authorization of Agents.

 

(a)            Each
of the Lenders and each L/C Issuer hereby irrevocably appoints Bank of America to act on its behalf as the Administrative Agent
hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to
exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such actions and
powers as are reasonably incidental thereto. The provisions of this Article are solely for the benefit of the Administrative Agent,
the Lenders and the L/C Issuers, and neither the Borrower nor any other Loan Party shall have rights as a third party beneficiary of
any of such provisions. Notwithstanding any provision to the contrary contained elsewhere herein or in any other Loan Document, the
Administrative Agent shall have no duties or responsibilities, except those expressly set forth herein, nor shall the Administrative
Agent have or be deemed to have any fiduciary relationship with any Lender or participant, and no implied covenants, functions,
responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist
against the Administrative Agent. Without limiting the generality of the foregoing sentence, the use of the term
 “agent” herein and in the other Loan Documents with reference to any Agent is not intended to connote any
fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Law. Instead, such term is used
merely as a matter of market custom, and is intended to create or reflect only an administrative relationship between independent
contracting parties.

 

(b)           
Each L/C Issuer shall act on behalf of the Lenders with respect to any Letters of Credit issued by it and the documents associated
therewith, and each such L/C Issuer shall have all of the benefits and immunities (i) provided to the Agents in this ‎Article
9 with respect to any acts taken or omissions suffered by such L/C Issuer in connection with Letters of Credit issued by it or proposed
to be issued by it and the applications and agreements for letters of credit pertaining to such Letters of Credit as fully as if the term
 “Agent” as used in this ‎Article 9 and in the definition of “Related
Parties” included such L/C Issuer with respect to such acts or omissions, and (ii) as additionally provided herein with respect
to such L/C Issuer.

 

(c)           
The Administrative Agent shall also act as the “collateral agent” under the Loan Documents, and each of the
Lenders (including in its capacities as a potential Hedge Bank and a potential Cash Management Bank) and each L/C Issuer hereby irrevocably
appoints and authorizes the Administrative Agent to act as the agent of such Lender and such L/C Issuer for purposes of acquiring, holding
and enforcing any and all Liens on Collateral granted by any of the Loan Parties to secure any of the Obligations, together with such
powers and discretion as are reasonably incidental thereto. In this connection, the Administrative Agent, as “collateral agent”
and any co-agents, sub-agents and attorneys-in-fact appointed by the Administrative Agent pursuant to ‎Section
9.02 for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Collateral Documents,
or for exercising any rights and remedies thereunder at the direction of the Administrative Agent), shall be entitled to the benefits
of all provisions of this ‎Article 9 (including ‎Section
9.07) and ‎Article 10, as though such co-agents, sub-agents and attorneys-in-fact were
the “collateral agent” under the Loan Documents) as if set forth in full herein with respect thereto.

 

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(d)            The
Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other
Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender” or
 “Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the
Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits
from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business
with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and
without any duty to account therefor to the Lenders.

 

Section 9.02.     
Delegation of Duties. The Administrative Agent may perform any and all of its duties and exercise its rights and powers
hereunder or under any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative
Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Related
Parties. The exculpatory provisions of this Article shall apply to any such sub-agent and to the Related Parties of the Administrative
Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities
provided for herein as well as activities as Administrative Agent.

 

Section 9.03.     
Liability of Agents.

 

(a)           
The Administrative Agent or the Lead Arrangers, as applicable, shall not have any duties or obligations except those expressly
set forth herein and in the other Loan Documents, and its duties hereunder shall be administrative in nature. Without limiting the generality
of the foregoing, the Administrative Agent or the Lead Arrangers, as applicable:

 

(i)           
shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing;

 

(ii)          
shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and
powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed
in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in
the other Loan Documents); provided that the Administrative Agent shall not be required to take any action that, in its opinion
or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any Loan Document or applicable
Law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that
may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law; and

 

(iii)         
shall not have any duty or responsibility to disclose, and shall not be liable for the failure to disclose, to any Lender or any
L/C Issuer, any credit or other information concerning the business, prospects, operations, property, financial and other condition or
creditworthiness of any of the Loan Parties or any of their Affiliates, that is communicated to, obtained or in the possession of, the
Administrative Agent, Lead Arrangers to any of their Related Parties in any capacity, except for notices, reports and other documents
expressly required to be furnished to the Lenders by the Administrative Agent herein.

 

(b)            The
Administrative Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the
Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall
believe in good faith shall be necessary, under the circumstances as provided in Sections ‎10.01
and ‎8.02) or (ii) in the absence of its own gross negligence or willful
misconduct (in each case, as determined in a final, non-appealable judgment of a court of competent jurisdiction).

 

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(c)           
The Administrative Agent shall not be responsible to any Lender for or have any duty to ascertain or inquire into (i) any statement,
warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate,
report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance
of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the
validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or
document, or the creation, perfection or priority of any Lien purported to be created by the Collateral Documents, (v) the value or the
sufficiency of any Collateral, (vi) the satisfaction of any condition set forth in ‎Article
4 or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent or (vii)
compliance by Affiliates of a Lender with the terms hereof relating to Affiliates of a Lender.

 

(d)           
The Administrative Agent shall not have any duties or responsibilities or be liable for monitoring or enforcing ‎Section
10.07(b)(ii)(E).

 

(e)           
The Administrative Agent shall not be responsible or have any liability for, or have any duty to ascertain, inquire into, monitor
or enforce, compliance with the provisions of this Agreement relating to Disqualified Lenders or Affiliates of a Lender. Without limiting
the generality of the foregoing, the Administrative Agent shall not ‎(x) be obligated
to ascertain, monitor or inquire as to whether any Lender or prospective Lender is a Disqualified Lender or Affiliate of a Lender or (y)
have any liability with respect to or arising out of any assignment of Loans, or disclosure of confidential information, to any ‎Disqualified
Lender or Affiliate of a Lender.

 

Section 9.04.     
Reliance by Agents.

 

(a)           
Each Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate,
consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other
distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. Each Agent also
may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not
incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan, or the issuance,
extension, renewal or increase of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the relevant
L/C Issuer, the Administrative Agent may presume that such condition is satisfactory to such Lender or the L/C Issuer unless the Administrative
Agent shall have received notice to the contrary from such Lender or the L/C Issuer prior to the making of such Loan or the issuance of
such Letter of Credit. Each Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other
experts selected by it, and shall not be liable for any action taken or not taken in good faith by it in accordance with the advice of
any such counsel, accountants or experts.

 

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Section 9.05.     
Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default, except
with respect to defaults in the payment of principal, interest and fees required to be paid to the Administrative Agent for the account
of the Lenders, unless the Administrative Agent shall have received written notice from a Lender or the Borrower referring to this Agreement,
describing such Default and stating that such notice is a “notice of default.” The Administrative Agent will notify
the Lenders of its receipt of any such notice. The Administrative Agent shall take such action with respect to any Event of Default as
may be directed by the Required Lenders in accordance with Article VIII; provided that unless and until the Administrative Agent
has received any such direction, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking
such action, with respect to such Event of Default as it shall deem advisable or in the best interest of the Lenders.

 

Section 9.06.      Credit
Decision; Disclosure of Information by Agents and Lead Arrangers. Each Lender and each L/C Issuer expressly acknowledges that
none of the Administrative Agent nor the Lead Arrangers have made any representation or warranty to it, and that no act by the
Administrative Agent or the Lead Arrangers hereafter taken, including any consent to, and acceptance of any assignment or review of
the affairs of any Loan Party of any Affiliate thereof, shall be deemed to constitute any representation or warranty by the
Administrative Agent or the Lead Arrangers to any Lender or each L/C Issuer as to any matter, including whether the Administrative
Agent or the Lead Arrangers have disclosed material information in their (or their Related Parties’) possession. Each Lender
and each L/C Issuer represents to the Administrative Agent and the Lead Arrangers that it has, independently and without reliance
upon the Administrative Agent, the Lead Arrangers, any other Lender or any of their Related Parties and based on such documents and
information as it has deemed appropriate, made its own credit analysis of, appraisal of, and investigation into, the business,
prospects, operations, property, financial and other condition and creditworthiness of the Loan Parties and their Subsidiaries, and
all applicable bank or other regulatory Laws relating to the transactions contemplated hereby, and made its own and decision to
enter into this Agreement and to extend credit to the Borrower hereunder. Each Lender and each L/C Issuer also acknowledges that it
will, independently and without reliance upon the Administrative Agent, the Lead Arrangers, any other Lender or any of their Related
Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own credit
analysis, appraisals and decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any
related agreement or any document furnished hereunder or thereunder, and to make such investigations as it deems necessary to inform
itself as to the business, prospects, operations, property, financial and other condition and creditworthiness of the Loan Parties.
Each Lender and each L/C Issuer represents and warrants that (i) the Loan Documents set forth the terms of a commercial lending
facility and (ii) it is engaged in making, acquiring or holding commercial loans in the ordinary course and is entering into this
Agreement as a Lender or L/C Issuer for the purpose of making, acquiring or holding commercial loans and providing other facilities
set forth herein as may be applicable to such Lender or L/C Issuer, and not for the purpose of purchasing, acquiring or holding any
other type of financial instrument, and each Lender and each L/C Issuer agrees not to assert a claim in contravention of the
foregoing. Each Lender and each L/C Issuer represents and warrants that it is sophisticated with respect to decisions to make,
acquire and/or hold commercial loans and to provide other facilities set forth herein, as may be applicable to such Lender or such
L/C Issuer, and either it, or the Person exercising discretion in making its decision to make, acquire and/or hold such commercial
loans or to provide such other facilities, is experienced in making, acquiring or holding such commercial loans or providing such
other facilities.. Except for notices, reports and other documents expressly required to be furnished to the Lenders by any Agent
herein, such Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning
the business, prospects, operations, property, financial and other condition or creditworthiness of any of the Loan Parties or any
of their respective Affiliates which may come into the possession of any Agent or their respective Related Parties. Except for
notices, reports and other documents expressly required to be furnished to the Lenders by any Agent herein, such Agent shall not
have any duty or responsibility to provide any Lender with any credit or other information concerning the business, prospects,
operations, property, financial and other condition or creditworthiness of any of the Loan Parties or any of their respective
Affiliates which may come into the possession of any Agent or their respective Related Parties.

 

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Section 9.07.     
Agents in Their Individual Capacities.

 

Bank of America and its Affiliates may make loans
to, issue letters of credit for the account of, accept deposits from, acquire Equity Interests in and generally engage in any kind of
banking, trust, financial advisory, underwriting or other business with each of the Loan Parties and their respective Affiliates as though
Bank of America were not the Administrative Agent hereunder and without notice to or consent of the Lenders. The Lenders acknowledge that,
pursuant to such activities, Bank of America or its Affiliates may receive information regarding any Loan Party or any Affiliate of a
Loan Party (including information that may be subject to confidentiality obligations in favor of such Loan Party or such Affiliate) and
acknowledge that the Administrative Agent shall be under no obligation to provide such information to them. With respect to its Loans,
Bank of America shall have the same rights and powers under this Agreement as any other Lender and may exercise such rights and powers
as though it were not the Administrative Agent, and the terms “Lender” and “Lenders” include Bank
of America in its individual capacity.

 

Section 9.08.     
Successor Agents.

 

The Administrative Agent may resign, upon 30
days prior notice to the Lenders, each L/C Issuer and the Borrower. Upon receipt of any such notice of resignation, the Required
Lenders shall have the right, in consultation with the Borrower, to appoint a successor, which shall be a bank with an office in the
United States, or an Affiliate of any such bank with an office in the United States, which appointment of a successor agent shall
require the consent of the Borrower (except during the existence of an Event of Default under Section ‎8.01(f)
or ‎(g)), which consent shall not be unreasonably withheld or
delayed. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within
30 days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may (but
shall not be obligated to) on behalf of the Lenders and the L/C Issuers (without the consent of any of the Lenders or the L/C
Issuers but with the consent of the Borrower (except during the existence of an Event of Default under Section ‎8.01(f)
or ‎(g)), which consent shall not be unreasonably withheld or
delayed), appoint a successor Administrative Agent meeting the qualifications set forth above, provided that in no event shall such
successor Administrative Agent be a Defaulting Lender or Disqualified Lender; provided that if the Administrative Agent shall notify
the Borrower and the Lenders that no qualifying Person has accepted such appointment, then such resignation shall nonetheless become
effective in accordance with such notice and (i) the retiring Administrative Agent shall be discharged from its duties and
obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by the
Administrative Agent on behalf of the Lenders or any L/C Issuer under any of the Loan Documents, the retiring Administrative Agent
shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed); (ii) all
payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by
or to each Lender and the L/C Issuer directly, until such time as the Required Lenders appoint a successor Administrative Agent as
provided for above in this Section and (iii) the Borrower and the Lenders agree that in no event shall the retiring Administrative
Agent and Collateral Agent or any of their respective Affiliates or any of their respective officers, directors, employees, agents,
advisors, partners, trustees or representatives have any liability to the Loan Parties, any Lender or any other Person or entity for
damages of any kind, including, without limitation, direct or indirect, special, incidental or consequential damages, losses or
expenses (whether in tort, contract or otherwise) arising out of the failure of a successor Administrative Agent or Collateral Agent
to be appointed and to accept such appointment. Upon the acceptance of a successor’s appointment as Administrative Agent
hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring
(or retired) Administrative Agent, and the retiring Administrative Agent shall be discharged from all of its duties and obligations
hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this ‎Section
9.09). The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor
unless otherwise agreed between the Borrower and such successor. After the retiring Administrative Agent’s resignation
hereunder and under the other Loan Documents, the provisions of this ‎Article
9 and Sections ‎10.04 and ‎10.05
shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties
in respect of any actions taken or omitted to be taken by any of them (i) while the retiring or removed Administrative Agent was
acting as Administrative Agent and (ii) after such resignation or removal for as long as any of them continues to act in any
capacity hereunder or under the other Loan Documents, including (a) acting as collateral agent or otherwise holding any collateral
security on behalf of any of the Lenders and (b) in respect of any actions taken in connection with transferring the agency to any
successor Administrative Agent.

 

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Section 9.09.     
Administrative Agent May File Proofs of Claim. In case of the pendency of any proceeding under any Debtor Relief Law or
any other judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the principal of any Loan
or L/C Obligation shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative
Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise:

 

(a)            to
file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, L/C Obligations
and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to
have the claims of the Lenders and the Administrative Agent (including any claim for the reasonable compensation, expenses,
disbursements and advances of the Lenders and the Administrative Agent and their respective agents and counsel and all other amounts
due the Lenders and the Administrative Agent under Section ‎2.09 and Section ‎10.04)
allowed in such judicial proceeding; and

 

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(b)           
to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same; and

 

(c)           
any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding
is hereby authorized by each Lender to make such payments to the Administrative Agent and, in the event that the Administrative Agent
shall consent to the making of such payments directly to the Lenders, to pay to the Administrative Agent any amount due for the reasonable
compensation, expenses, disbursements and advances of the Agents and their respective agents and counsel, and any other amounts due to
the Administrative Agent under Section ‎2.09 and Section ‎10.04.

 

Nothing contained herein shall be deemed to authorize
the Administrative Agent to authorize or consent to or accept or adopt on behalf of any Lender any plan of reorganization, arrangement,
adjustment or composition affecting the Obligations or the rights of any Lender or to authorize the Administrative Agent to vote in respect
of the claim of any Lender in any such proceeding.

 

Section 9.10.     
Collateral and Guaranty Matters. The Lenders (including in its capacities as a potential Cash Management Bank and a potential
Hedge Bank) irrevocably agree:

 

(a)           
that any Lien on any property granted to or held by the Administrative Agent or the Collateral Agent under any Loan Document shall
be automatically released (i) upon termination of the Aggregate Commitments and payment in full of all Obligations (other than (x) obligations
under Secured Hedge Agreements not yet due and payable, (y) Cash Management Obligations not yet due and payable and (z) contingent indemnification
obligations not yet accrued and payable), the expiration or termination of all Letters of Credit and any other obligation (including a
guarantee that is contingent in nature), (ii) at the time the property subject to such Lien is transferred or to be transferred as part
of or in connection with any transfer permitted hereunder or under any other Loan Document to any Person other than the Borrower or any
of its Restricted Subsidiaries that are Guarantors, (iii) subject to ‎Section 10.01,
if the release of such Lien is approved, authorized or ratified in writing by the Required Lenders, (iv) if the property subject to such
Lien is owned by a Guarantor, upon release of such Guarantor from its obligations under its Guaranty pursuant to clause ‎(c)
or ‎(d) below, or (v) if the property subject to such Lien becomes subject to the exclusions
set forth in the last paragraph of the definition of Collateral and Guarantee Requirement pursuant to a transaction not prohibited by
this Agreement;

 

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(b)           
to release or subordinate any Lien on any property granted to or held by the Administrative Agent or the Collateral Agent under
any Loan Document to the holder of any Lien on such property that is permitted by ‎Section
7.01(i) and ‎(o);

 

(c)           
that any Subsidiary Guarantor shall be automatically released from its obligations under the Guaranty if such Person ceases to
be a Restricted Subsidiary as a result of a transaction or designation permitted hereunder; and

 

(d)           
 if any Subsidiary Guarantor shall cease to be a Material Subsidiary (as certified in writing by a Responsible Officer), (i) such
Subsidiary shall be automatically released from its obligations under the Guaranty and (ii) any Liens granted by such Subsidiary or Liens
on the Equity Interests of such Subsidiary shall be automatically released.

 

Upon request by the Administrative Agent at any
time, the Required Lenders will confirm in writing the Administrative Agent’s authority to release or subordinate its interest in
particular types or items of property, or to release any Guarantor from its obligations under the Guaranty pursuant to this ‎Section
9.11. In each case as specified in this ‎Section 9.11, the Administrative
Agent will promptly (and each Lender irrevocably authorizes the Administrative Agent to), at the Borrower’s expense, execute and
deliver to the applicable Loan Party such documents as such Loan Party may reasonably request to evidence the release or subordination
of such item of Collateral from the assignment and security interest granted under the Collateral Documents, or to evidence the release
of such Guarantor from its obligations under the Guaranty, in each case in accordance with the terms of the Loan Documents and this ‎Section
9.11.

 

Section 9.11.     
Other Agents; Arrangers and Managers. None of the Lenders or other Persons identified on the facing page or signature pages
of this Agreement as a “syndication agent” or “co-arranger” shall have any right, power, obligation,
liability, responsibility or duty under this Agreement other than those applicable to all Lenders as such or in its capacity, as applicable,
as the Administrative Agent or L/C Issuer hereunder. Without limiting the foregoing, none of the Lenders or other Persons so identified
shall have or be deemed to have any fiduciary relationship with any Lender. Each Lender acknowledges that it has not relied, and will
not rely, on any of the Lenders or other Persons so identified in deciding to enter into this Agreement or in taking or not taking action
hereunder.

 

Section 9.12.     
Appointment of Supplemental Administrative Agents.

 

(a)           
It is the purpose of this Agreement and the other Loan Documents that there shall be no violation of any Law of any jurisdiction
denying or restricting the right of banking corporations or associations to transact business as agent or trustee in such jurisdiction.
It is recognized that in case of litigation under this Agreement or any of the other Loan Documents, and in particular in case of the
enforcement of any of the Loan Documents, or in case the Administrative Agent deems that by reason of any present or future Law of any
jurisdiction it may not exercise any of the rights, powers or remedies granted herein or in any of the other Loan Documents or take any
other action which may be desirable or necessary in connection therewith, the Administrative Agent is hereby authorized to appoint an
additional individual or institution selected by the Administrative Agent in its sole discretion as a separate trustee, co-trustee, administrative
agent, collateral agent, administrative sub-agent or administrative co-agent (any such additional individual or institution being referred
to herein individually as a “Supplemental Administrative Agent” and, collectively, as “Supplemental Administrative
Agents”).

 

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(b)            In
the event that the Administrative Agent appoints a Supplemental Administrative Agent with respect to any Collateral, (i) each and
every right, power, privilege or duty expressed or intended by this Agreement or any of the other Loan Documents to be exercised by
or vested in or conveyed to the Administrative Agent with respect to such Collateral shall be exercisable by and vest in such
Supplemental Administrative Agent to the extent, and only to the extent, necessary to enable such Supplemental Administrative Agent
to exercise such rights, powers and privileges with respect to such Collateral and to perform such duties with respect to such
Collateral, and every covenant and obligation contained in the Loan Documents and necessary to the exercise or performance thereof
by such Supplemental Administrative Agent shall run to and be enforceable by either the Administrative Agent or such Supplemental
Administrative Agent, and (ii) the provisions of this ‎Article 9 and of Section ‎10.04
and Section ‎10.05 that refer to the Administrative Agent shall inure to the
benefit of such Supplemental Administrative Agent and all references therein to the Administrative Agent shall be deemed to be
references to the Administrative Agent and/or such Supplemental Administrative Agent, as the context may require.

 

(c)           
Should any instrument in writing from any Loan Party be required by any Supplemental Administrative Agent so appointed by the Administrative
Agent for more fully and certainly vesting in and confirming to him or it such rights, powers, privileges and duties, the Borrower shall,
or shall cause such Loan Party to, execute, acknowledge and deliver any and all such instruments promptly upon request by the Administrative
Agent. In case any Supplemental Administrative Agent, or a successor thereto, shall die, become incapable of acting, resign or be removed,
all the rights, powers, privileges and duties of such Supplemental Administrative Agent, to the extent permitted by Law, shall vest in
and be exercised by the Administrative Agent until the appointment of a new Supplemental Administrative Agent.

 

Section 9.13.     
Withholding Tax. To the extent required by any applicable Law, the Administrative Agent may deduct or withhold from any
payment to any Lender an amount equivalent to any applicable withholding Tax. If the Internal Revenue Service or any other Governmental
Authority asserts a claim that the Administrative Agent did not properly withhold Tax from amounts paid to or for the account of any Lender
for any reason (including because the appropriate form was not delivered or was not properly executed or because such Lender failed to
notify the Administrative Agent of a change in circumstance that rendered the exemption from, or reduction of, withholding Tax ineffective)
or any Excluded Taxes attributable to such Lender are payable by the Administrative Agent in connection with any Loan Document, such Lender
shall indemnify and hold harmless the Administrative Agent fully for all amounts paid, directly or indirectly, by the Administrative Agent
as Tax or otherwise, including any penalties, additions to Tax or interest and together with all expenses (including legal expenses, allocated
internal costs and out-of-pocket expenses) incurred, whether or not such Tax was correctly or legally imposed or asserted by the relevant
Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent
shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts
at any time owing to such Lender under this Agreement or any other Loan Document against any amount due the Administrative Agent under
this ‎‎‎Section 9.13. The agreements in this ‎‎‎Section 9.13 shall survive the resignation
and/or replacement of the Administrative Agent, any assignment of rights by, or the replacement of, a Lender, the termination of this
Agreement and the repayment, satisfaction or discharge of all other obligations. For the avoidance of doubt, (1) the term “Lender”
shall, for purposes of this ‎‎‎Section 9.13, include any L/C Issuer and (2) this ‎Section 9.13 shall
not limit or expand the obligations of the Borrower or any Guarantor under ‎Section 3.01 or any other provision of this Agreement.

 

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Section 9.14.     
Cash Management Obligations and Secured Hedge Agreements. No Cash Management Bank or Hedge Bank that obtains the benefits of ‎Section
8.04, the Guaranty or any Collateral by virtue of the provisions hereof or of the Guaranty or any Collateral Document shall have any
right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise
in respect of the Collateral (including the release or impairment of any Collateral) other than in its capacity as a Lender and, in such
case, only to the extent expressly provided in the Loan Documents. Notwithstanding any other provision of this ‎Article
9 to the contrary, the Administrative Agent shall not be required to verify the payment of, or that other satisfactory arrangements have
been made with respect to, Cash Management Obligations and Obligations arising under Secured Hedge Agreements unless the Administrative
Agent has received written notice of such Obligations, together with such supporting documentation as the Administrative Agent may request,
from the applicable Cash Management Bank or Hedge Bank, as the case may be.

 

Section 9.15.     
Recovery of Erroneous Payments. Without limitation of any other provision in this Agreement, if at any time the Administrative
Agent makes a payment hereunder in error to any Lender or any L/C Issuer (the “Credit Party”), whether or not in respect
of an Obligation due and owing by the Borrower at such time, where such payment is a Rescindable Amount, then in any such event, each
Credit Party receiving a Rescindable Amount severally agrees to repay to the Administrative Agent forthwith on demand the Rescindable
Amount received by such Credit Party in immediately available funds in the currency so received, with interest thereon, for each day from
and including the date such Rescindable Amount is received by it to but excluding the date of payment to the Administrative Agent, at
the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank
compensation. Each Credit Party irrevocably waives any and all defenses, including any “discharge for value” (under which
a creditor might otherwise claim a right to retain funds mistakenly paid by a third party in respect of a debt owed by another) or similar
defense to its obligation to return any Rescindable Amount. The Administrative Agent shall inform each Credit Party promptly upon determining
that any payment made to such Credit Party comprised, in whole or in part, a Rescindable Amount.

 

Article
10

Miscellaneous

 

Section 10.01.  Amendments,
Etc. Except as otherwise set forth in this Agreement, no amendment or waiver of any provision of this Agreement or any other
Loan Document, and no consent to any departure by the Borrower or any other Loan Party therefrom, shall be effective unless in
writing signed by the Required Lenders and the Borrower or the applicable Loan Party, as the case may be, and (to the extent that
such waiver, amendment or modification does not affect the rights, duties, privileges or obligations of the Administrative Agent
under this Agreement, the Administrative Agent shall execute such waiver, amendment or other modification to the extent approved by
the Required Lenders; provided that, to the extent such waiver, amendment or modification was delivered to the Administrative
Agent and does not affect the rights, duties, privileges or obligations of the Administrative Agent under this Agreement, the
Administrative Agent’s failure to so execute shall not impact the effectiveness of such waiver, amendment or modification),
each such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided
that no such amendment, waiver or consent shall:

 

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(a)           
extend or increase the Commitment of any Lender without the written consent of each Lender directly and adversely affected thereby
(it being understood that a waiver of any condition precedent set forth in ‎Section
4.02 or the waiver of any Default, mandatory prepayment or mandatory reduction of the Commitments shall not constitute an extension or
increase of any Commitment of any Lender);

 

(b)           
postpone any date scheduled for, or reduce the amount of, any payment of principal, interest or fees hereunder without the written
consent of each Lender directly and adversely affected thereby, it being understood that the waiver of (or amendment to the terms of)
any mandatory prepayment of the Term Loans shall not constitute a postponement of any date scheduled for the payment of principal or interest;

 

(c)           
reduce the principal of, or the rate of interest specified herein on, any Loan or L/C Borrowing, or (subject to clause (iii) of
the second proviso to this ‎Section 10.01) any fees or other amounts payable hereunder
or under any other Loan Document without the written consent of each Lender directly and adversely affected thereby, it being understood
that any change to the definition of First Lien Net Leverage Ratio or in the component definitions thereof shall not constitute a reduction
in the rate of interest; provided that only the consent of the Required Lenders shall be necessary to amend the definition of “Default
Rate” or to waive any obligation of the Borrower to pay interest at the Default Rate;

 

(d)           
change any provision of this ‎Section 10.01, the definition of “Required
Lenders,” “Required Revolving Credit Lenders” or “Pro Rata Share” or Section ‎2.05(b)(iv)(Y),
Section ‎2.05(d)(iv) (with respect to the requirement to make ratable payments), Section
‎2.06(c), Section ‎2.13, Section ‎8.04
or any other provision hereof specifying the number or percentage of Lenders required to waive, amend or modify any rights hereunder or
make any determination or grant any consent hereunder, in each case without the written consent of each Lender directly and adversely
affected thereby;

 

(e)           
release all or substantially all of the value of the Collateral in any transaction or series of related transactions, without the
written consent of each Lender; provided that any transaction permitted under Section ‎7.04
or Section ‎7.05 shall not be subject to this clause (e) to the extent such transaction
does not result in the release of all or substantially all of the Collateral;

 

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(f)            
release all or substantially all of the Guaranties in any transaction or series of related transactions, without the written consent
of each Lender; provided that any transaction permitted under Section ‎7.04 or
Section ‎7.05 shall not be subject to this clause ‎(f)
to the extent such transaction does not result in the release of all or substantially all of the Guaranties;

 

(g)            (i)
subordinate, or have the effect of subordinating, the Obligations hereunder to any other Indebtedness or other obligation or (ii)
subordinate, or have the effect of subordinating,the Liens securing the Obligations to Liens securing any other Indebtedness or
other obligation, in each case without the prior written consent of each Lender directly affected thereby;

 

and provided
further that (i) no amendment, waiver or consent shall, unless in writing and signed by each L/C Issuer in addition to the Lenders
required above, change any provision of ‎‎Section 1.09
or affect the rights or duties of an L/C Issuer under this Agreement or any Letter of Credit Application relating to any Letter of
Credit issued or to be issued by it; (ii) no amendment, waiver or consent shall, unless in writing and signed by the Administrative
Agent or the Collateral Agent, as applicable, in addition to the Lenders required above, affect the rights or duties of, or any fees
or other amounts payable to, the Administrative Agent or the Collateral Agent, as applicable, under this Agreement or any other Loan
Document; (iii) ‎Section 10.07(h) may not be amended, waived
or otherwise modified without the consent of each Granting Lender all or any part of whose Loans are being funded by an SPC at the
time of such amendment, waiver or other modification; (iv) any amendment or waiver that by its terms affects the rights or duties of
Lenders holding Loans or Commitments of a particular Class (but not the Lenders holding Loans or Commitments of any other Class)
will require only the requisite percentage in interest of the affected Class of Lenders that would be required to consent thereto if
such Class of Lenders were the only Class of Lenders and (v) only the consent of the Required Revolving Credit Lenders shall be
necessary to waive any conditions set forth in ‎Section 4.02
to the making of any Revolving Loans ‎. Notwithstanding the
foregoing this Agreement may be amended (or amended and restated) with the written consent of the Required Lenders, the
Administrative Agent and the Borrower (a) to add one or more additional credit facilities to this Agreement and to permit the
extensions of credit from time to time outstanding thereunder and the accrued interest and fees in respect thereof to share ratably
in the benefits of this Agreement and the other Loan Documents with the Term Loans, the Revolving Credit Loans, the Incremental Term
Loans, if any, and the accrued interest and fees in respect thereof and (b) to include appropriately the Lenders holding such credit
facilities in any determination of the Required Lenders.

 

Notwithstanding anything to the contrary
contained in this ‎Section 10.01, (i) the Borrower and the
Administrative Agent may, without the input or consent of the Lenders, effect amendments to this Agreement and the other Loan
Documents as may be necessary or appropriate in the opinion of the Administrative Agent to effect the provisions of Sections ‎2.14
and ‎2.15; (ii) the Agent Fee Letter may be amended, or rights
or privileges thereunder waived, in a writing executed only by the parties thereto; (iii) the Administrative Agent is hereby
authorized by the Lenders to approve the forms of Collateral Documents as contemplated herein, and to enter into any Loan Documents
in such forms as approved by it on or prior to the Closing Date (and thereafter as contemplated by the provisions of this Credit
Agreement); (iv) the Administrative Agent shall be permitted to agree to the form of, and approve such modifications to, the
Schedules hereto on or prior to the Closing Date as shall be reasonably satisfactory to the Administrative Agent; (v) the Borrower
and the Administrative Agent may without the input or consent of the Lenders, effect amendments to this Agreement and the other Loan
Documents that are not materially adverse to the Lenders (or one or more Facilities thereof); (vi) if the Administrative Agent and
the Borrower have jointly identified an obvious error or any error or omission of a technical nature, in each case, in any Loan
Document, then the Administrative Agent and the Borrower shall be permitted to amend such provision without the input or consent of
the Lenders and (vii) any guarantees, collateral security documents and related documents executed by the Borrower or any
Subsidiaries in connection with this Agreement may be in a form reasonably determined by the Administrative Agent and may be,
together with this Agreement, amended, supplemented and waived with the consent of the Administrative Agent at the request of the
Borrower without the need to obtain the consent of any other Lender if such amendment, supplement or waiver is delivered in order
(a) to comply with local Law or advice of local counsel, (b) to cure ambiguities, omissions, mistakes or defects or (c) to cause
such guarantee, collateral security document or other document to be consistent with this Agreement and the other Loan
Documents.

 

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Section 10.02. 
Notices and Other Communications; Facsimile Copies.

 

(a)           
Except in the case of notices and other communications expressly permitted to be given by telephone (and except as provided in
subsection ‎(b) below), all notices and other communications provided for herein shall
be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by facsimile
or electronic mail as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be
made to the applicable telephone number, as follows:

 

(i)           
if to the Borrower, the Administrative Agent or an L/C Issuer, to the address, facsimile number, electronic mail address or telephone
number specified for such Person on Schedule ‎10.02; and

 

(ii)           
if to any other Lender, to the address, facsimile number, electronic mail address or telephone number specified in its Administrative
Questionnaire (including, as appropriate, notices delivered solely to the Person designated by a Lender on its Administrative Questionnaire
then in effect for the delivery of notices that may contain material non-public information relating to the Borrower).

 

Notices and other communications sent by hand or overnight courier
service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices and other communications
sent 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). Notices and other communications
delivered through electronic communications to the extent provided in ‎Section
10.02(b) shall be effective as provided in such ‎Section 10.02(b).

 

(b)           
Electronic Communications. Notices and other communications to the Lenders and any L/C Issuer hereunder may be delivered or furnished
by electronic communication (including e-mail, FpML messaging, and Internet or intranet websites) pursuant to procedures approved by the
Administrative Agent; provided that the foregoing shall not apply to notices to any Lender or any L/C Issuer pursuant to ‎Article
2 if such Lender or the L/C Issuer, as applicable, has notified the Administrative Agent that it is incapable of receiving notices under
such Article by electronic communication. The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and
other communications to it hereunder by electronic communications pursuant to procedures approved by it; provided that approval
of such procedures may be limited to particular notices or communications.

 

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Unless the Administrative Agent otherwise prescribes,
(i) notices and other communications sent to an email address shall be deemed received upon the sender’s receipt of an acknowledgement
from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other
written acknowledgement), and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the
deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice
or communication is available and identifying the website address therefor; provided that if such notice or other communication
is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening
of business on the next Business Day for the recipient.

 

(c)           
The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT PARTIES
(AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY
DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING
ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER
CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative
Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to the Borrower, any Lender,
any L/C Issuer or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise)
arising out of the Borrower’s, any Loan Party’s or the Administrative Agent’s transmission of Borrower Materials or
notices through the Platform, any other electronic messaging service or through the Internet, except to the extent that such losses, claims,
damages, liabilities or expenses are determined by a court of competent jurisdiction by a final and nonappealable judgment to have resulted
from the gross negligence or willful misconduct of such Agent Party; provided, however, that in no event shall any Agent
Party have any liability to the Borrower, any Lender, any L/C Issuer or any other Person for indirect, special, incidental, consequential
or punitive damages (as opposed to direct or actual damages).

 

(d)           
Change of Address, Etc. Each of the Borrower, the Administrative Agent and the L/C Issuer may change its address, facsimile
or telephone number for notices and other communications hereunder by notice to the other parties hereto. Each other Lender may change
its address, facsimile or telephone number for notices and other communications hereunder by notice to the Borrower, the Administrative
Agent and each L/C Issuer. In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that the Administrative
Agent has on record (i) an effective address, contact name, telephone number, facsimile number and electronic mail address to which notices
and other communications may be sent and (ii) accurate wire instructions for such Lender. Furthermore, each Public Lender agrees to cause
at least one individual at or on behalf of such Public Lender to at all times have selected the “Private Side Information”
or similar designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance
with such Public Lender’s compliance procedures and applicable Law, including United States Federal and state securities Laws,
to make reference to Borrower Materials that are not made available through the“Public Side Information” portion of
the Platform and that may contain material non-public information with respect to the Borrower or its securities for purposes of United
States Federal or state securities laws.

 

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(e)           
Reliance by Administrative Agent, L/C Issuers and Lenders. The Administrative Agent, the L/C Issuers and the Lenders shall
be entitled to rely and act upon any notices (including telephonic notices and Committed Loan Notices) purportedly given by or on behalf
of the Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed
by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation
thereof. The Borrower shall indemnify the Administrative Agent, each L/C Issuer, each Lender and the Related Parties of each of them from
all losses, costs, expenses and liabilities resulting from the reliance in good faith by such Person on each notice purportedly given
by or on behalf of the Borrower. All telephonic notices to and other telephonic communications with the Administrative Agent may be recorded
by the Administrative Agent, and each of the parties hereto hereby consents to such recording.

 

(f)            
Notice to other Loan Parties. The Borrower agrees that notices to be given to any other Loan Party under this Agreement
or any other Loan Document may be given to the Borrower in accordance with the provisions of this ‎Section
10.02 with the same effect as if given to such other Loan Party in accordance with the terms hereunder or thereunder.

 

Section 10.03. 
No Waiver; Cumulative Remedies. No failure by any Lender, any L/C Issuer or the Administrative Agent to exercise, and no
delay by any such Person in exercising, any right, remedy, power or privilege hereunder or under any other Loan Document shall operate
as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or
further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein
provided, and provided under each other Loan Document, are cumulative and not exclusive of any rights, remedies, powers and privileges
provided by law.

 

Notwithstanding anything to the contrary contained
herein or in any other Loan Document, the authority to enforce rights and remedies hereunder and under the other Loan Documents against
the Loan Parties or any of them shall be vested exclusively in, and all actions and proceedings at law in connection with such enforcement
shall be instituted and maintained exclusively by, the Administrative Agent in accordance with ‎Section
8.02 for the benefit of all the Lenders and each L/C Issuer; provided, however, that the foregoing shall not prohibit (a)
any Lender from exercising setoff rights in accordance with ‎Section
10.09 (subject to the terms of ‎Section 2.13), or (b) any Lender
from filing proofs of claim or appearing and filing pleadings on its own behalf during the pendency of a proceeding relative to any Loan
Party under any Debtor Relief Law; and provided, further, that if at any time there is no Person acting as Administrative Agent
hereunder and under the other Loan Documents, then the Required Lenders shall have the rights otherwise ascribed to the Administrative
Agent pursuant to ‎Section 8.02.

 

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Notwithstanding anything to the contrary
contained herein or in any other Loan Document, the authority to enforce rights and remedies hereunder and under the other Loan
Documents against the Loan Parties or any of them shall be vested exclusively in, and all actions and proceedings at law in
connection with such enforcement shall be instituted and maintained exclusively by, the Administrative Agent in accordance with ‎Section
8.02 for the benefit of all the Lenders and the L/C Issuer; provided, however, that the foregoing shall not prohibit
(a) the Administrative Agent from exercising on its own behalf the rights and remedies that inure to its benefit (solely in its
capacity as Administrative Agent) hereunder and under the other Loan Documents, (b) the L/C Issuer from exercising the rights and
remedies that inure to its benefit (solely in its capacity as L/C Issuer, as the case may be) hereunder and under the other Loan
Documents, (c) any Lender from exercising setoff rights in accordance with ‎Section
10.09 (subject to the terms of ‎Section 2.13), or (d) any
Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the pendency of a proceeding relative
to any Loan Party under any Debtor Relief Law; and provided, further, that if at any time there is no Person acting as
Administrative Agent hereunder and under the other Loan Documents, then (i) the Required Lenders shall have the rights otherwise
ascribed to the Administrative Agent pursuant to ‎Section 8.02
and (ii) in addition to the matters set forth in clauses (c), (d) and (e) of the preceding proviso and subject to ‎Section
2.13, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and as authorized by
the Required Lenders.

 

Section 10.04. 
Attorney Costs and Expenses. The Borrower agrees to pay or reimburse (a) the Administrative Agent and the Lead Arrangers
for all reasonable and documented or invoiced out-of-pocket costs and expenses associated with the syndication of the Term Loans and Revolving
Credit Loans (including reasonable and documented out of pocket travel expenses) and the preparation and negotiation of this Agreement
and the other Loan Documents entered into on or about, or prior to, the Restatement Effective Date (whether or not the transactions contemplated
thereby are consummated), including all Attorney Costs of Davis Polk & Wardwell LLP and, if necessary, one local counsel in each relevant
jurisdiction, (b) the Agent and the Lenders for all reasonable and documented or invoiced out-of-pocket costs and expenses incurred in
connection with the enforcement of any rights or remedies under this Agreement or the other Loan Documents (including all costs and expenses
incurred in connection with any workout in respect of the Loans, all such costs and expenses incurred during any legal proceeding, including
any proceeding under any Debtor Relief Law, and including all Attorney Costs of one counsel to the Agents and the Lenders and, if necessary,
one local and foreign counsel in each relevant jurisdiction and, in the event of a potential conflict of interest where the Lender affected
by such conflict informs the Borrower of such conflict, such additional counsels as are reasonably required, and (c) the Agents for all
reasonable and documented or invoiced out-of-pocket costs and expenses associated with the administration, amendment, modification, waiver
and/or enforcement of this Agreement and the other Loan Documents, including all Attorney Costs of one counsel to the Agents and, if necessary,
one local and foreign counsel in each relevant jurisdiction. The foregoing costs and expenses shall include all reasonable search, filing,
recording and title insurance charges and fees related thereto, and other reasonable and documented out-of-pocket expenses incurred by
any Agent. The agreements in this ‎Section 10.04 shall survive the termination of the Aggregate Commitments and repayment
of all other Obligations. All amounts due under this ‎Section 10.04 shall be paid within ten (10) Business Days of receipt
by the Borrower of an invoice relating thereto setting forth such expenses in reasonable detail. If any Loan Party fails to pay when due
any costs, expenses or other amounts payable by it hereunder or under any Loan Document, such amount may be paid on behalf of such Loan
Party by the Administrative Agent in its sole discretion.

 

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Section 10.05. Indemnification. (a) Whether
or not the transactions contemplated hereby are consummated, the Borrower shall indemnify and hold harmless each L/C Issuer, each
Agent, each Lender, each Lead Arranger, the Syndication Agent and each Related Party of the foregoing (collectively, the
 “Indemnitees”) from and against any and all losses, liabilities, damages, claims, and reasonable and documented
or invoiced out-of-pocket fees and expenses, joint or several (including reasonable Attorney Costs of one counsel for all
Indemnitees and, if necessary, one firm of local counsel in each appropriate jurisdiction (which may include a single special
counsel acting in multiple jurisdictions) for all Indemnitees (and, in the case of an actual or perceived conflict of interest,
where the Indemnitee affected by such conflict informs the Borrower of such conflict and thereafter retains its own counsel, of
another firm of counsel for such affected Indemnitee)) of any such Indemnitee of any kind or nature whatsoever which may at any time
be imposed on, incurred by or asserted against any such Indemnitee in any way relating to or arising out of or in connection with
(a) the execution, delivery, enforcement, performance or administration of any Loan Document or any other agreement, letter or
instrument delivered in connection with the transactions contemplated thereby or the consummation of the transactions contemplated
thereby, (b) any Commitment, Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by
an L/C Issuer to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do
not strictly comply with the terms of such Letter of Credit), (c) any actual or alleged presence or Release or threat of Release of
Hazardous Materials on, at, under or from any property currently or formerly owned, leased or operated by the Borrower, any
Subsidiary or any other Loan Party or any of its Subsidiaries, or any Environmental Liability related in any way to the Borrower,
any Subsidiary or any other Loan Party or any of its Subsidiaries, or (d) any actual or prospective claim, litigation, investigation
or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory (regardless of whether such
Indemnitees is a party thereto and whether or not such proceedings are brought by the Borrower, its equity holders, its Affiliates,
creditors or any other third person) (including any investigation of, preparation for, or defense of any pending or threatened
claim, investigation, litigation or proceeding) (all the foregoing, collectively, the “Indemnified Liabilities”),
in all cases, whether or not caused by or arising, in whole or in part, out of the negligence of the Indemnitee; provided
that such indemnity shall not, as to any Indemnitee, be available to the extent that such liabilities, obligations, losses, damages,
penalties, claims, demands, actions, judgments, suits, costs, expenses or disbursements resulted from (x) the gross negligence, bad
faith or willful misconduct of such Indemnitee or of its Related Indemnified Persons (as determined by a court of competent
jurisdiction in a final and non-appealable decision), (y) a material breach of the Loan Documents by such Indemnitee or one of its
Affiliates (as determined by a court of competent jurisdiction in a final and non-appealable decision) or (z) disputes to the extent
such disputes do not arise from any act or omission of the Borrower or any of its Affiliates and that is brought by an Indemnitee
against any other Indemnitee (other than claims against an Indemnitee acting in its capacity as an L/C Issuer, Agent, Lead Arranger,
Syndication Agent or similar role under the Loan Documents). No Indemnitee shall be liable for any damages arising from the use or
misuse by others of any information or other materials obtained through IntraLinks or other similar information transmission systems
in connection with this Agreement nor shall any Indemnitee or any Loan Party have any liability for any special, punitive, indirect
or consequential damages relating to this Agreement or any other Loan Document or arising out of its activities in connection
herewith or therewith (whether before or after the Closing Date); provided that the foregoing shall not limit the
Borrower’s indemnity and reimbursement obligations to the extent set forth in Section ‎10.04 and Section ‎10.05(a).
In the case of an investigation, litigation or other proceeding to which the indemnity in this ‎Section 10.05 applies,
such indemnity shall be effective whether or not such investigation, litigation or proceeding is brought by any Loan Party, its
directors, partners, stockholders or creditors or an Indemnitee or any other Person, whether or not any Indemnitee is otherwise a
party thereto and whether or not any of the transactions contemplated hereunder or under any of the other Loan Documents is
consummated. All amounts due under this ‎Section 10.05 shall be paid within ten (10) Business Days after demand
therefor; provided, however, that such Indemnitee shall promptly refund such amount to the extent that there is a
final judicial or arbitral determination that such Indemnitee was not entitled to indemnification or contribution rights with
respect to such payment pursuant to the express terms of this ‎Section 10.05. The agreements in this ‎Section
10.05 shall survive the resignation of any Agent, the replacement of any Lender, the termination of the Aggregate Commitments and
the repayment, satisfaction or discharge of all the other Obligations. For the avoidance of doubt, this ‎Section 10.05
shall not apply to Taxes other than Taxes that represent liabilities, obligations, losses, damages, etc., with respect to a non-Tax
claim.

 

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(b)           
To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under Section ‎10.04
or Section ‎10.05(a) to be paid by it to any Agent (or any sub-agent thereof), any L/C
Issuer or any Related Party of any of the foregoing, each Lender severally agrees to pay to such Agent (or any such sub-agent), such L/C
Issuer or such Related Party, as the case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed
expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed expense or indemnified loss, claim,
damage, liability or related expense, as the case may be, was incurred by or asserted against such Agent (or any such sub-agent) or such
L/C Issuer in its capacity as such, or against any Related Party of any of the foregoing acting for such Agent (or any such sub-agent)
or L/C Issuer in connection with such capacity. The obligations of the Lenders under this subsection ‎(b)
are subject to the provisions of ‎Section 2.12(e).

 

Section 10.06. 
Payments Set Aside. To the extent that any payment by or on behalf of the Borrower is made to any Agent or any Lender, or
any Agent or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently
invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by such
Agent or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under
any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be
satisfied shall be revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred,
and (b) each Lender severally agrees to pay to the Administrative Agent upon demand its applicable share of any amount so recovered from
or repaid by any Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal
to the applicable Overnight Rate, in the applicable currency of such payment.

 

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Section 10.07.Successors and Assigns.

 

(a)           
The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors
and assigns permitted hereby, except that, except as otherwise provided herein (including without limitation as permitted under ‎Section
7.04), the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent
of the Administrative Agent, each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except
(i) to an Eligible Assignee, (ii) by way of participation in accordance with the provisions of ‎Section
10.07(e), (iii) by way of pledge or assignment of a security interest subject to the restrictions of ‎Section
10.07(g) or (iv) to an SPC in accordance with the provisions of ‎Section 10.07(h) (and
any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied,
shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby,
Participants to the extent provided in ‎Section 10.07(e) and, to the extent expressly
contemplated hereby, the Related Parties of each of the Administrative Agent, each L/C Issuer and the Lenders) any legal or equitable
right, remedy or claim under or by reason of this Agreement.

 

(b)           
(i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may assign to one or more assignees (“Assignees”)
all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans (including
for purposes of this ‎Section 10.07(b) and participations in L/C Obligations) at the
time owing to it) with the prior written consent (such consent not to be unreasonably withheld or delayed) of:

 

(A)           
the Borrower; provided that, no consent of the Borrower shall be required for an assignment of any (x) Term Loan to any
other Lender, any Affiliate of a Lender or any Approved Fund or, if an Event of Default under Section ‎8.01(a),
‎(f) or ‎(g) has occurred and is continuing, any
Assignee or (y) Revolving Credit Facility to any Revolving Credit Lender, any Affiliate of a Revolving Credit Lender or any Approved Fund
or, if an Event of Default under Section ‎8.01(a), ‎(f)
or ‎(g) has occurred and is continuing, any Assignee; provided, however, that
the Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Administrative
Agent within ten (10) Business Days after having received notice thereof;

 

(B)           
the Administrative Agent; provided that no consent of the Administrative Agent shall be required for an assignment of (i)
all or any portion of a Term Loan to another Lender, an Affiliate of a Lender or an Approved Fund or (ii) all or any portion of a Revolving
Credit Commitment or Revolving Credit Loan to a Revolving Credit Lender or an Affiliate of a Revolving Credit Lender; and

 

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(C)            in
the case of any assignment of any of the Revolving Credit Facility, each L/C Issuer at the time of such assignment; provided that
no consent of such L/C Issuers shall be required for any assignment of all or any portion of a Revolving Credit Commitment or
Revolving Credit Loan to a Revolving Credit Lender or an Affiliate of a Revolving Credit Lender.

 

(ii)           
Assignments shall be subject to the following additional conditions:

 

(A)           
except in the case of an assignment to a Lender or an Affiliate of a Lender or an Approved Fund or an assignment of the entire
remaining amount of the assigning Lender’s Commitment or Loans of any Class, the amount of the Commitment or Loans of the assigning
Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such assignment is delivered
to the Administrative Agent) shall not be less than $5,000,000 (in the case of each of the Revolving Credit Facility and a Term Loan)
unless the Borrower and the Administrative Agent otherwise consents; provided that (1) no such consent of the Borrower shall be
required if an Event of Default under Section ‎8.01(a), ‎(f)
or ‎(g) has occurred and is continuing and (2) such amounts shall be aggregated in respect
of each Lender and its Affiliates or Approved Funds, if any;

 

(B)           
the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption;

 

(C)           
the Assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire and any documentation
required by ‎Section 3.01(f);

 

(D)           
no such assignment shall be made (I) to the Borrower or any of the Borrower’s Affiliates or Subsidiaries except in accordance
with ‎Section 2.05(d), or (II) to any Defaulting Lender or any of its Subsidiaries, or any
Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (B), or (C) to a
natural person (or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of a natural person);
and

 

(E)           
the Assignee shall not be a Disqualified Lender; and a Lender may only disclose the list of Disqualified Lenders to a potential
assignee that agrees that, unless it becomes a Lender, it will keep the list confidential on terms substantially similar to those in ‎10.08
of this Agreement.

 

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This clause ‎(b)
shall not prohibit any Lender from assigning all or a portion of its rights and obligations among separate Facilities on a non-pro rata
basis.

 

(c)            Subject
to acceptance and recording thereof by the Administrative Agent pursuant to ‎Section
10.07(d) and receipt by the Administrative Agent from the parties to each assignment of a processing and recordation fee of $3,500
(provided that (i) such fee shall not apply to assignments by the Initial Lenders, or any of their respective Affiliates and
(ii) the Administrative Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any
assignment), from and after the effective date specified in each Assignment and Assumption, the Eligible Assignee thereunder shall
be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and
obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by
such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and
Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a
party hereto but shall continue to be entitled to the benefits of Sections ‎3.01, ‎3.04, ‎3.05, ‎10.04
and ‎10.05 with respect to facts and circumstances occurring prior to the
effective date of such assignment). Upon request, and the surrender by the assigning Lender of its Note (if any), the Borrower (at
its expense) shall execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or
obligations under this Agreement that does not comply with this clause ‎(c) shall
be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance
with ‎Section 10.07(e). For greater certainty, any assignment by a Lender pursuant
to this ‎Section 10.07 shall not in any way constitute or be deemed to constitute
a novation, discharge, recession, extinguishment or substitution of the existing Indebtedness and any Indebtedness so assigned shall
continue to be the same obligation and not a new obligations.

 

(d)           
The Administrative Agent, acting solely for this purpose as a non-fiduciary agent of the Borrower (and such agency being solely
for tax purposes), shall maintain at the Administrative Agent’s Office in the United States a copy of each Assignment and Assumption
delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts
(and related interest amounts) of the Loans and L/C Obligations owing to, each Lender pursuant to the terms hereof from time to time (the
 “Register”). The entries in the Register shall be conclusive absent manifest error and the Borrower, the Administrative
Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder
for all purposes of this Agreement, notwithstanding notice to the contrary. In addition, the Administrative Agent shall maintain on the
Register information regarding the designation, and revocation of designation, of any Lender as a Defaulting Lender. The Register shall
be available for inspection by the Borrower, any Agent and any Lender, at any reasonable time and from time to time upon reasonable prior
notice.

 

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(e)            Any
Lender may at any time, without the consent of, or notice to, the Borrower, the Administrative Agent or any L/C Issuer, sell
participations to any Person (other than a natural person, or a holding company, investment vehicle or trust for, or owned and
operated for the primary benefit of a natural person, or a Defaulting Lender or the Borrower or any of the Borrower’s
Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such Lender’s rights and/or
obligations under this Agreement (including all or a portion of its Commitment and/or the Loans (including such Lender’s
participations in L/C Obligations) owing to it); provided that (i) such Lender’s obligations under this Agreement shall
remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such
obligations and (iii) the Borrower, the Agents, the L/C Issuers and the other Lenders shall continue to deal solely and directly
with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement or instrument
pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this
Agreement and the other Loan Documents and to approve any amendment, modification or waiver of any provision of this Agreement or
the other Loan Documents; provided that such agreement or instrument may provide that such Lender will not, without the
consent of the Participant, agree to any amendment, waiver or other modification described in Section ‎10.01(a), ‎(b), ‎(c), ‎(e)
or ‎(f) that directly affects such Participant. Subject to ‎Section
10.07(f), the Borrower agrees that each Participant shall be entitled to the benefits of Sections ‎3.01, ‎3.04
and ‎3.05 (through the applicable Lender), subject to the requirements and
limitations of such Sections (including Sections ‎3.01(e) and ‎(f)
and Section ‎3.04(e)) and Sections ‎3.06
and ‎3.07, to the same extent as if it were a Lender and had acquired its interest
by assignment pursuant to ‎Section 10.07(b). To the extent permitted by applicable
Law, each Participant also shall be entitled to the benefits of ‎Section 10.09 as
though it were a Lender; provided that such Participant agrees to be subject to ‎Section
2.13 as though it were a Lender. Any Lender that sells participations shall, acting solely for this purpose as a non-fiduciary agent
of the Borrower (and such agency being solely for tax purposes), maintain a register on which it enters the name and the address of
each Participant and the principal amounts (and related interest amounts) of each Participant’s participation interest in the
Commitments and/or Loans (or other rights or obligations) held by it (the “Participant Register”). The entries in
the Participant Register shall be conclusive, absent demonstrable error, and such Lender shall treat each person whose name is
recorded in the Participant Register as the owner of such participation interest as the owner thereof for all purposes
notwithstanding any notice to the contrary. No Lender shall have any obligation to disclose all or any portion of the Participant
Register to any Person (including the identity of any Participant or any information relating to a Participant’s interest in
any commitments, loans, or its other obligations under this Agreement) except to the extent that such disclosure is necessary to
establish in connection with a Tax audit or other Tax proceeding that such commitment, loan, letter of credit or other obligation is
in registered form under Section 5f.103-1(c) of the United States Treasury Regulations.

 

(f)            
A Participant shall not be entitled to receive any greater payment under Section ‎3.01,
‎3.04 or ‎3.05 than the applicable
Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation
to such Participant is made with the Borrower’s prior written consent or except to the extent such entitlement to a greater payment
results from a Change in Law after the Participant became a Participant.

 

(g)           
Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (including
under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve
Bank; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute
any such pledgee or assignee for such Lender as a party hereto.

 

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(h)            Notwithstanding
anything to the contrary contained herein, any Lender (a “Granting Lender”) may grant to a special purpose
funding vehicle identified as such in writing from time to time by the Granting Lender to the Administrative Agent and the Borrower
(an “SPC”) the option to provide all or any part of any Loan that such Granting Lender would otherwise be
obligated to make pursuant to this Agreement; provided that (i) nothing herein shall constitute a commitment by any SPC to
fund any Loan and (ii) if an SPC elects not to exercise such option or otherwise fails to make all or any part of such Loan, the
Granting Lender shall be obligated to make such Loan pursuant to the terms hereof. Each party hereto hereby agrees that (i) an SPC
shall be entitled to the benefit of Sections ‎3.01, ‎3.04
and ‎3.05, subject to the requirements and limitations of such Sections (including
Sections ‎3.01(e) and ‎(f)) and
Section ‎3.06 and Section ‎3.07,
to the same extent as if such SPC were a Lender, but neither the grant to any SPC nor the exercise by any SPC of such option shall
increase the costs or expenses or otherwise increase or change the obligations of the Borrower under this Agreement (including its
obligations under Section ‎3.01, ‎3.04
or ‎3.05) except to the extent any entitlement to greater amounts results from a
Change in Law after the grant to the SPC occurred, (ii) no SPC shall be liable for any indemnity or similar payment obligation under
this Agreement for which a Lender would be liable and such liability shall remain with the Granting Lender, and (iii) the Granting
Lender shall for all purposes, including the approval of any amendment, waiver or other modification of any provision of any Loan
Document, remain the lender of record hereunder. The making of a Loan by an SPC hereunder shall utilize the Commitment of the
Granting Lender to the same extent, and as if, such Loan were made by such Granting Lender. Notwithstanding anything to the contrary
contained herein, any SPC may (i) with notice to, but without prior consent of the Borrower and the Administrative Agent, assign all
or any portion of its right to receive payment with respect to any Loan to the Granting Lender and (ii) disclose on a confidential
basis any nonpublic information relating to its funding of Loans to any rating agency, commercial paper dealer or provider of any
surety or Guarantee Obligation or credit or liquidity enhancement to such SPC.

 

(i)            
Notwithstanding anything to the contrary contained herein, (1) any Lender may in accordance with applicable Law create a security
interest in all or any portion of the Loans owing to it and the Note, if any, held by it and (2) any Lender that is a Fund may create
a security interest in all or any portion of the Loans owing to it and the Note, if any, held by it to the trustee for holders of obligations
owed, or securities issued, by such Fund as security for such obligations or securities; provided that unless and until such trustee
actually becomes a Lender in compliance with the other provisions of this ‎Section 10.07,
(i) no such pledge shall release the pledging Lender from any of its obligations under the Loan Documents and (ii) such trustee shall
not be entitled to exercise any of the rights of a Lender under the Loan Documents even though such trustee may have acquired ownership
rights with respect to the pledged interest through foreclosure or otherwise.

 

(j)            
Notwithstanding anything to the contrary contained herein, any L/C Issuer may, upon thirty (30) days’ notice to the Borrower
and the Lenders, resign as an L/C Issuer; provided that on or prior to the expiration of such 30-day period with respect to such
resignation, the relevant L/C Issuer shall have identified, in consultation with the Borrower, a successor L/C Issuer willing to accept
its appointment as successor L/C Issuer. In the event of any such resignation of an L/C Issuer, the Borrower shall be entitled to appoint
from among the Lenders willing to accept such appointment a successor L/C Issuer hereunder; provided that no failure by the Borrower
to appoint any such successor shall affect the resignation of the relevant L/C Issuer. If an L/C Issuer resigns as an L/C Issuer, it shall
retain all the rights and obligations of an L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective
date of its resignation as an L/C Issuer and all L/C Obligations with respect thereto (including the right to require the Lenders to make
Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to ‎Section
2.03(c)).

 

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(k)           
 Disqualified Lenders. (i) No assignment shall be made to any Person that was a Disqualified Lender as of the date (the
 “Trade Date”) on which the applicable Lender entered into a binding agreement to sell and assign all or a portion of
its rights and obligations under this Agreement to such Person (unless the Borrower has consented to such assignment as otherwise contemplated
by this Section 10.07, in which case such Person will not be considered a Disqualified Lender for the purpose of such assignment). For
the avoidance of doubt, with respect to any assignee that becomes a Disqualified Lender after the applicable Trade Date, (x) such assignee
shall not retroactively be disqualified from becoming a Lender and (y) the execution by the Borrower of an Assignment and Assumption with
respect to such assignee will not by itself result in such assignee no longer being considered a Disqualified Lender. Any assignment in
violation of this clause (k)(i) shall not be void, but the other provisions of this clause (k) shall apply.

 

   (ii) If
any assignment is made to any Disqualified Lender without the Borrower’s prior consent in violation of clause (i) above, or if any
Person becomes a Disqualified Lender after the applicable Trade Date, the Borrower may, at its sole expense and effort, upon notice to
the applicable Disqualified Lender and the Administrative Agent, (A) terminate any Revolving Credit Commitment of such Disqualified Lender
and repay all obligations of the Borrower owing to such Disqualified Lender in connection with such Revolving Credit Commitment, (B) in
the case of outstanding Term Loans held by Disqualified Lenders, prepay such Term Loan by paying the lesser of (x) the principal amount
thereof and (y) the amount that such Disqualified Lender paid to acquire such Term Loans, in each case plus accrued interest, accrued
fees and all other amounts (other than principal amounts) payable to it hereunder and under the other Loan Documents and/or (C) require
such Disqualified Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in this
Section 10.07), all of its interest, rights and obligations under this Agreement and related Loan Documents to an Eligible Assignee that
shall assume such obligations at the lesser of (x) the principal amount thereof and (y) the amount that such Disqualified Lender paid
to acquire such interests, rights and obligations, in each case plus accrued interest, accrued fees and all other amounts (other than
principal amounts) payable to it hereunder and the other Loan Documents; provided that (i) the Borrower shall have paid to the Administrative
Agent the assignment fee (if any) specified in 10.07(c), (ii) such assignment does not conflict with applicable Laws and (iii) in the
case of clause (B), the Borrower shall not use the proceeds from any Loans to prepay Term Loans held by Disqualified Lenders.

 

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   (iii) Notwithstanding
anything to the contrary contained in this Agreement, Disqualified Lenders (A) will not (x) have the right to receive information, reports
or other materials provided to Lenders by the Borrower, the Administrative Agent or any other Lender, (y) attend or participate in meetings
attended by the Lenders and the Administrative Agent, or (z) access any electronic site established for the Lenders or confidential communications
from counsel to or financial advisors of the Administrative Agent or the Lenders and (B) (x) for purposes of any consent to any amendment,
waiver or modification of, or any action under, and for the purpose of any direction to the Administrative Agent or any Lender to undertake
any action (or refrain from taking any action) under this Agreement or any other Loan Document, each Disqualified Lender will be deemed
to have consented in the same proportion as the Lenders that are not Disqualified Lenders consented to such matter, and (y) for purposes
of voting on any plan of reorganization or plan of liquidation pursuant to any Debtor Relief Laws (“Plan of Reorganization”),
each Disqualified Lender party hereto hereby agrees (1) not to vote on such Plan of Reorganization, (2) if such Disqualified Lender does
vote on such Plan of Reorganization notwithstanding the restriction in the foregoing clause (1), such vote will be deemed not to be in
good faith and shall be “designated” pursuant to Section 1126(e) of the Bankruptcy Code (or any similar provision in any
other Debtor Relief Laws), and such vote shall not be counted in determining whether the applicable class has accepted or rejected such
Plan of Reorganization in accordance with Section 1126(c) of the Bankruptcy Code (or any similar provision in any other Debtor Relief
Laws) and (3) not to contest any request by any party for a determination by the Bankruptcy Court (or other applicable court of competent
jurisdiction) effectuating the foregoing clause (2).

 

   (iv) The
Administrative Agent shall have the right, and the Borrower hereby expressly authorizes the Administrative Agent, to (A) post the list
of Disqualified Lenders provided by the Borrower and any updates thereto from time to time on the Platform, including that portion of
the Platform that is designated for “public side” Lenders or (B) provide such list of Disqualified Lenders to each Lender
requesting the same.

 

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Section 10.08.  Confidentiality.
Each of the Agents and the Lenders agrees to maintain the confidentiality of the Information and to not use or disclose such
information, except that Information may be disclosed (a) to its Affiliates and its and its Affiliates’ respective partners,
directors, officers, employees, trustees, investment advisors, professionals and other experts and agents, including accountants,
legal counsel and other advisors and representatives (it being understood that the Persons to whom such disclosure is made will be
informed of the confidential nature of such Information and instructed to keep such Information confidential); (b) pursuant to the
order of any court or administrative agency or in any pending legal, judicial or administrative proceeding, or otherwise as required
by applicable Law, rule or regulation or compulsory legal process based on the advice of counsel (in which case such Agent or Lender
agrees (except with respect to any audit or examination conducted by bank accountants or any self-regulatory authority or
Governmental Authority exercising examination or regulatory authority), to the extent practicable and not prohibited by applicable
law, rule or regulation, to inform the Borrower promptly thereof prior to disclosure), (c) upon the request or demand of any
regulatory authority having or purporting to have jurisdiction over such Agent or Lender or any of their respective Affiliates (in
which case such Agent or Lender agrees (except with respect to any audit or examination conducted by bank accountants or any
self-regulatory authority or Governmental Authority exercising examination or regulatory authority), to the extent practicable and
not prohibited by applicable law, rule or regulation, to inform you promptly thereof prior to disclosure), to the extent practicable
and not prohibited by applicable law, to inform you promptly thereof prior to disclosure); (d) to any other party to this Agreement;
(e) subject to an agreement containing provisions substantially the same as those of this ‎Section 10.08 (or as may
otherwise be reasonably acceptable to the Borrower), to any pledgee referred to in Section ‎10.07(g) or ‎(i),
counterparty to a Swap Contract, Eligible Assignee of or Participant in, or any prospective Eligible Assignee of or Participant in,
any of its rights or obligations under this Agreement (it being understood that the list of Disqualified Lenders provided by the
Borrower and any updates thereto from time to time may be disclosed to any assignee or prospective assignee in reliance on this
clause (e)); (f) with the written consent of the Borrower; (g) to the extent such Information(x) becomes publicly available other
than as a result of a breach of this ‎Section 10.08 or (y) is or was received by any Agent or any Lender or any of
their respective Affiliates from a third party that is not, to such party’s knowledge, subject to contractual or fiduciary
confidentiality obligations owning to the Borrower, (h) to the extent such information is independently developed by such Agent or
Lender or any of their respective Affiliates; (i) to any Governmental Authority or examiner regulating any Lender; (j) to any rating
agency when required by it (it being understood that, prior to any such disclosure, such rating agency shall undertake to preserve
the confidentiality of any Information relating to the Loan Parties received by it from such Lender); (k) in connection with the
exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any
other Loan Document or the enforcement of rights hereunder or thereunder; or (l) on a confidential basis to (i) any rating agency in
connection with rating the Borrower or its Subsidiaries or the credit facilities provided hereunder or (ii) the CUSIP Service Bureau
or any similar agency in connection with the issuance and monitoring of CUSIP numbers of other market identifiers with respect to
the credit facilities provided hereunder. In addition, the Agents and the Lenders may disclose the existence of this Agreement and
information about this Agreement to market data collectors, similar service providers to the lending industry, and service providers
to the Agents and the Lenders in connection with the administration and management of this Agreement, the other Loan Documents, the
Commitments, and the Credit Extensions. For the purposes of this ‎Section 10.08, “Information” means
all information received from any Loan Party or its Affiliates or its Affiliates’ directors, officers, employees, trustees,
investment advisors or agents, relating to the Borrower or any of their subsidiaries or their business, other than any such
information that is publicly available to any Agent or any Lender prior to disclosure by any Loan Party other than as a result of a
breach of this ‎Section 10.08, including, without limitation, information delivered pursuant to Section ‎6.01, ‎6.02
or ‎6.03 hereof.

 

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Section 10.09.  Setoff.
In addition to any rights and remedies of the Lenders provided by Law, upon the occurrence and during the continuance of any Event
of Default, each Lender and its Affiliates and each L/C Issuer and its Affiliates is authorized at any time and from time to time,
without prior notice to the Borrower or any other Loan Party, any such notice being waived by the Borrower (on its own behalf and on
behalf of each Loan Party and its Subsidiaries) to the fullest extent permitted by applicable Law, to set off and apply any and all
deposits (general or special, time or demand, provisional or final) at any time held by, and other Indebtedness at any time owing
by, such Lender and its Affiliates or such L/C Issuer and its Affiliates, as the case may be, to or for the credit or the account of
the respective Loan Parties and their Subsidiaries against any and all Obligations owing to such Lender and its Affiliates or such
L/C Issuer and its Affiliates hereunder or under any other Loan Document, now or hereafter existing, irrespective of whether or not
such Agent or such Lender or Affiliate shall have made demand under this Agreement or any other Loan Document and although such
Obligations may be contingent or unmatured or denominated in a currency different from that of the applicable deposit or
Indebtedness; provided that in the event that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts
so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of ‎Section
2.17 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the
benefit of the Administrative Agent and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Administrative
Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such
right of setoff. Notwithstanding anything to the contrary contained herein, no Lender or its Affiliates and no L/C Issuer or its
Affiliates shall have a right to set off and apply any deposits held or other Indebtedness owning by such Lender or its Affiliates
or such L/C Issuer or its Affiliates, as the case may be, to or for the credit or the account of any Subsidiary of a Loan Party
which is not a “United States person” within the meaning of Section 7701(a)(30) of the Code unless such
Subsidiary is not a direct or indirect Subsidiary of the Borrower. Each Lender and L/C Issuer agrees promptly to notify the Borrower
and the Administrative Agent after any such set off and application made by such Lender or L/C Issuer, as the case may be; provided
that the failure to give such notice shall not affect the validity of such setoff and application. The rights of the Administrative
Agent, each Lender and each L/C Issuer under this ‎Section 10.09 are in addition to other rights and remedies
(including other rights of setoff) that the Administrative Agent, such Lender and such L/C Issuer may have.

 

Section 10.10. 
Counterparts. This Agreement and each other Loan Document may be executed in one or more counterparts, each of which shall
be deemed an original, but all of which together shall constitute one and the same instrument. Delivery by telecopier of an executed counterpart
of a signature page to this Agreement and each other Loan Document shall be effective as delivery of an original executed counterpart
of this Agreement and such other Loan Document. The Agents may also require that any such documents and signatures delivered by telecopier
be confirmed by a manually signed original thereof; provided that the failure to request or deliver the same shall not limit the
effectiveness of any document or signature delivered by telecopier.

 

Section 10.11. 
Integration. This Agreement, together with the other Loan Documents, comprises the complete and integrated agreement of
the parties on the subject matter hereof and thereof and supersedes all prior agreements, written or oral, on such subject matter. In
the event of any conflict between the provisions of this Agreement and those of any other Loan Document, the provisions of this Agreement
shall control; provided that (i) the inclusion of supplemental rights or remedies in favor of the Agents or the Lenders in any
other Loan Document shall not be deemed a conflict with this Agreement and (ii) the Commitment Letter shall continue to be in full force
and effect to the extent set forth in Section 9 thereof. Each Loan Document was drafted with the joint participation of the respective
parties thereto and shall be construed neither against nor in favor of any party, but rather in accordance with the fair meaning thereof.

 

Section 10.12. 
Survival of Representations and Warranties. All representations and warranties made hereunder and in any other Loan Document
or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery
hereof and thereof. Such representations and warranties have been or will be relied upon by each Agent and each Lender, regardless of
any investigation made by any Agent or any Lender or on their behalf and notwithstanding that any Agent or any Lender may have had notice
or knowledge of any Default at the time of any Credit Extension, and shall continue in full force and effect as long as any Loan or any
other Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding.

 

Section 10.13.  Severability.
If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or unenforceable, the legality,
validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or
impaired thereby. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such
provision in any other jurisdiction.

 

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Section 10.14. 
GOVERNING LAW; Jurisdiction, etc.

 

(a)           
GOVERNING LAW. THIS AGREEMENT AND EACH OTHER LOAN DOCUMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW
OF THE STATE OF NEW YORK (EXCEPT AS OTHERWISE EXPRESSLY PROVIDED THEREIN).

 

(b)           
JURISDICTION. EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION
OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF
NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER
LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES
THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING SHALL BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. 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 IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT ANY AGENT, ANY LENDER OR THE L/C ISSUER MAY OTHERWISE
HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST THE BORROWER OR ANY OTHER LOAN PARTY
OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION.

 

(c)           
WAIVER OF VENUE. EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO
THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF THIS SECTION. EACH OF THE PARTIES HERETO HEREBY
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH
ACTION OR PROCEEDING IN ANY SUCH COURT.

 

(d)           
SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION
‎10.02. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE
PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.

 

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Section 10.15. 
WAIVER OF RIGHT TO TRIAL BY JURY. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW,
ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT
OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).
EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE
OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS
AND CERTIFICATIONS IN THIS SECTION.

 

Section 10.16. 
Binding Effect. This Agreement shall become effective when it shall have been executed by the Borrower and the Administrative
Agent shall have been notified by each Lender and L/C Issuer that each such Lender and L/C Issuer has executed it and thereafter shall
be binding upon and inure to the benefit of the Borrower, each Agent and each Lender and their respective successors and assigns, except
that the Borrower shall not have the right to assign its rights hereunder or any interest herein without the prior written consent of
the Lenders except as permitted by ‎Section 7.04.

 

Section 10.17. 
Judgment Currency. If, for the purposes 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 the Administrative Agent could purchase the first currency with such other currency on the Business Day preceding
that on which final judgment is given. The obligation of the Borrower in respect of any such sum due from it to the Administrative Agent
or the Lenders hereunder or under the other Loan Documents 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 extent that on the Business Day following receipt by the Administrative Agent of any sum
adjudged to be so due in the Judgment Currency, the Administrative Agent may in accordance with normal banking procedures purchase the
Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so purchased is less than the sum originally due
to the Administrative Agent from the Borrower in the Agreement Currency, the Borrower agrees, as a separate obligation and notwithstanding
any such judgment, to indemnify the Administrative Agent or the Person to whom such obligation was owing against such loss. If the amount
of the Agreement Currency so purchased is greater than the sum originally due to the Administrative Agent in such currency, the Administrative
Agent agrees to return the amount of any excess to the Borrower (or to any other Person who may be entitled thereto under applicable Law).

 

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Section 10.18.   Lender
Action. Each Lender agrees that it shall not take or institute any actions or proceedings, judicial or otherwise, for any right
or remedy against any Loan Party or any other obligor under any of the Loan Documents or the Secured Hedge Agreements (including the
exercise of any right of setoff, rights on account of any banker’s lien or similar claim or other rights of self-help), or
institute any actions or proceedings, or otherwise commence any remedial procedures, with respect to any Collateral or any other
property of any such Loan Party, without the prior written consent of the Administrative Agent. The provision of this ‎Section
10.18 are for the sole benefit of the Lenders and shall not afford any right to, or constitute a defense available to, any Loan
Party.

 

Section 10.19. 
 USA PATRIOT Act and Beneficial Ownership Regulation. Each Lender subject to the USA PATRIOT Act and Beneficial Ownership
Regulation hereby notifies the Borrower that, pursuant to the requirements of the USA PATRIOT Act and the requirements of the Beneficial
Ownership Regulation, it is required to (a) obtain, verify and record information that identifies 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 USA PATRIOT Act and (b) obtain a certification regarding beneficial ownership in compliance with the Beneficial Ownership Regulation.
The Borrower shall, promptly following a request by the Administrative Agent or any Lender, provide all documentation and other information
that the Administrative Agent or such Lender requests in order to comply with its ongoing obligations under applicable “know
your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act and the Beneficial Ownership Regulation.

 

Section 10.20. 
No Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated hereby (including
in connection with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrower acknowledges and agrees,
and acknowledges its Subsidiaries’ understanding, that: (i) the arranging and other services regarding this Agreement provided by
the Administrative Agent and the Lead Arrangers are arm’s-length commercial transactions between the Borrower its Subsidiaries,
on the one hand, and the Administrative Agent and the Lead Arrangers, on the other hand, (ii) in connection with the transactions contemplated
hereby or the process leading thereto, the Agents, the Lead Arrangers, the Lenders and their respective Subsidiaries (as the case may
be) are acting solely as a principal and not as agents or fiduciaries of the Borrower, its Subsidiaries or any other Person, (iii) the
Agents, the Lead Arrangers, the Lenders and their respective Subsidiaries (as the case may be) have not assumed an advisory or fiduciary
responsibility or any other obligation in favor of the Borrower or its Subsidiaries with respect to the transactions contemplated hereby
or the process leading thereto (irrespective of whether the Agents, the Lead Arrangers, the Lenders or any of their respective Subsidiaries
have advised or are currently advising the Borrower or its Subsidiaries on other matters) except the obligations expressly set forth in
this Agreement, the other Loan Documents and the Commitment Letter and (iv) you have consulted your own legal and financial advisors to
the extent you deemed appropriate. The Borrower further acknowledges and agrees, and acknowledges its Subsidiaries’ understanding,
that the Borrower and its Subsidiaries are responsible for making their own independent judgment with respect to such transactions and
the process leading thereto. The Borrower agrees, and acknowledges its Subsidiaries’ understanding, that they will not claim that
the Agents, the Lead Arrangers, the Lenders or their respective Subsidiaries, as the case may be, have rendered advisory services of any
nature or respect, or owe a fiduciary or similar duty to the Borrower or its Subsidiaries, in connection with such transaction or the
process leading thereto.

 

    178

     

    

 

Section 10.21. 
Appointment of Borrower. Each of the Loan Parties hereby appoints the Borrower to act as its agent for all purposes of
this Agreement, the other Loan Documents and all other documents and electronic platforms entered into in connection herewith and agrees
that (a) the Borrower may execute such documents and provide such authorizations on behalf of such Loan Parties as the Borrower deems
appropriate in its sole discretion and each Loan Party shall be obligated by all of the terms of any such document and/or authorization
executed on its behalf, (b) any notice or communication delivered by the Administrative Agent, L/C Issuer or a Lender to the Borrower
shall be deemed delivered to each Loan Party and (c) the Administrative Agent, L/C Issuer or the Lenders may accept, and be permitted
to rely on, any document, authorization, instrument or agreement executed by the Borrower on behalf of each of the Loan Parties.

 

Section 10.22. 
Electronic Execution of Assignments and Certain Other Documents. The words “delivery,” “execute,”
 “execution,” “signed,” “signature,” and words of like import in any Loan Document or any other document
executed in connection herewith shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract
formations on electronic platforms approved by the Administrative Agent, or the keeping of records in electronic form, each of which shall
be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based
recordkeeping system, as the case may be, to the extent and as provided for in any applicable Law, including the Federal Electronic Signatures
in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on
the Uniform Electronic Transactions Act; provided that notwithstanding anything contained herein to the contrary neither the Administrative
Agent, the L/C Issuer nor any Lender is under any obligation to agree to accept electronic signatures in any form or in any format unless
expressly agreed to by the Administrative Agent, the L/C Issuer or such Lender pursuant to procedures approved by it and provided further
without limiting the foregoing, upon the request of any party, any electronic signature shall be promptly followed by such manually executed
counterpart.

 

Section 10.23. 
Acknowledgment and Consent to Bail-In of Affected Financial Institutions. Notwithstanding anything to the contrary in any
Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any
liability of any 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 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 the applicable Resolution Authority to any such liabilities arising
hereunder which may be payable to it by any party hereto that is an 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;

 

    179

     

    

 

(ii)           
 a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such Affected Financial
Institution, its parent equity, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or
other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or
any other Loan Document; or

 

(iii)           
the variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of any the
applicable Resolution Authority.

 

Section 10.24. 
MIRE Events. Each of the parties hereto acknowledges and agrees that, if there are any Mortgaged Properties, any increase,
extension or renewal of any of the Commitments or Loans (including the provision of Incremental Facilities hereunder, but excluding (i)
any continuation or conversion of borrowings, (ii) the making of any Revolving Credit Loans or (iii) the issuance, renewal or extension
of Letters of Credit) shall be subject to (and conditioned upon): (1) the prior delivery of all flood hazard determination certifications,
acknowledgements and evidence of flood insurance and other flood-related documentation with respect to such Mortgaged Properties as required
by Flood Insurance Laws and as otherwise reasonably required by the Administrative Agent and (2) the Administrative Agent shall have received
written confirmation from the Lenders, flood insurance due diligence and flood insurance compliance has been completed by the Lenders
(such written confirmation not to be unreasonably withheld, conditioned or delayed).

 

Section 10.25. 
Amendment and Restatement; No Novation. (a) This Agreement constitutes an amendment and restatement of the Existing Credit
Agreement effective from and after the Restatement Effective Date. The execution and delivery of this Agreement shall not constitute a
novation of any Indebtedness or other Obligations owing to the Lenders or the Administrative Agent under the Existing Credit agreement
based on facts or events occurring or existing prior to the execution and delivery of this Agreement. On the Restatement Effective date,
the credit facilities described in the Existing Credit Agreement shall be amended, supplemented, modified and restated in their entirety
by the facilities described herein, all loans and other obligations of the Borrower outstanding as of such date under the Existing Credit
Agreement shall be deemed to be Loans and Obligations outstanding under the corresponding facilities described herein, without any further
action by any Person, and participations in Letters of Credit shall be deemed to be reallocated as are necessary in order that the outstanding
balance of such participations, together with any Loans funded on the Restatement Effective Date, reflect he respective Commitments of
the Lenders hereunder.

 

(b)            In
connection with the foregoing, by signing this Agreement, each Loan Party hereby confirms that notwithstanding the effectiveness of
this Agreement and the transactions contemplated hereby, (i) the Obligations of such Loan Party under this Agreement and the other
Loan Documents are entitled to the benefits of the guarantees and the security interests set forth or created herein and in the
Collateral Documents, (ii) each Guarantor hereby confirms and ratifies its continuing unconditional obligations as Guarantor with
respect to all of the Guaranteed Obligations, (iii) each Loan Document to which such Loan Party is a party is, and shall continue to
be, in full force and effect and is hereby ratified and confirmed in all respects and shall remain in full force and effect
according to its terms and (iv) such Loan Party ratifies and confirms that all Liens granted, conveyed or assigned to any Agent by
such Person pursuant to any Loan Document to which it is a party remain in full force and effect, are not released or reduced and
continue to secure full payment and performance of the Obligations.

 

    180

     

    

 

Section 10.26. 
Certain ERISA Matters.

 

(a)           
Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the
date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative
Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that at least one of the following
is and will be true:

 

(i)           
such Lender is not using “plan assets” (within the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit
Plans with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters
of Credit, the Commitments or this Agreement,

 

(ii)           
the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined
by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company
general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38
(a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions
determined by in-house asset managers), is applicable with respect to such Lender’s entrance into, participation in, administration
of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement,

 

(iii)           
(A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager”
(within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of
such Lender to enter into, participate in, administer and perform the Loans, the Letters of Credit, the Commitments and this Agreement,
(C) the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this
Agreement satisfies the requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender,
the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation
in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement, or

 

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

 

In addition, unless either (1) sub-clause (i)
in the immediately preceding clause (a) is true with respect to a Lender or (2) a Lender has provided another representation,
warranty and covenant in accordance with sub-clause (iv) in the immediately preceding clause (a), such Lender further (x) represents
and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a
Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and
not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that the Administrative Agent is not
a fiduciary with respect to the assets of such Lender involved in such Lender’s entrance into, participation in,
administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement (including in connection
with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents
related hereto or thereto).

 

    181

     

    

 

Section 10.27. 
Acknowledgement Regarding Any Supported QFCs. To the extent that the Loan Documents provide support, through a guarantee
or otherwise, for Swap Contracts 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 and/or of the United States or any other
state of the United States):

 

(a)                       
In the event a Covered Entity that is party to a Supported 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 such 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 Supported 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 subject 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.

 

(b)                       
As used in this Section 10.27, the following terms have the following meanings:

 

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

 

    182

     

    

 

(ii)                      
“Covered Entity” means any of the following:

 

(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).

 

(iii)                      “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.

 

(iv)                     
“QFC” has the meaning assigned to the term “qualified financial contract” in, and shall be interpreted
in accordance with, 12 U.S.C. 5390(c)(8)(D).

 

[THE REMAINDER OF THIS PAGE IS INTENTIONALLY
LEFT BLANK.]

 

    183

     

    

 

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

 

	 	PHIBRO ANIMAL HEALTH CORPORATION, as the Borrower
	 	 
	 	By:	/s/ Damian Finio
	 	 	Name:	Damian Finio
	 	 	Title:	Chief Financial Officer

 

     

     

    

 

	 	BANK OF AMERICA, N.A. as Administrative Agent and Collateral Agent
	 	 
	 	By:	/s/  Joan Mok
	 	 	Name: Joan Mok
	 	 	Title: Vice President

 

      

     

    

 

	 	BANK OF AMERICA, N.A.  as L/C Issuer and Lender
	 	 
	 	By:	/s/ Dilcia Peña Hill
	 	 	Name:  Dilcia Peña Hill
	 	 	Title: Senior Vice President

 

    	 

     

    

 

	 	CÖOOPERATIEVE RABOBANK U.A., NEW YORK BRANCH 

as Joint Lead Arranger, Joint Bookrunner and Syndication Agent
	 	 
	 	By:	/s/ Eric Rogowski
	 	 	Name:  Eric Rogowski
	 	 	Title: Managing Director
	 	 
	 	By:	/s/ Anthony Fidanza
	 	 	Name: Anthony Fidanza
	 	 	Title: Vice President

 

    	 

     

    

 

	 	CÖOOPERATIEVE RABOBANK U.A., NEW YORK BRANCH 

as Lender
	 	 
	 	By:	/s/ Michalene Donegan
	 	 	Name:  Michalene Donegan
	 	 	Title: Managing Director
	 	 
	 	By:	/s/ Hunter Odom
	 	 	Name:  Hunter Odom
	 	 	Title: Vice President

 

    	 

     

    

 

	 	Wells Fargo Bank, N.A.,  as Lender
	 	 
	 	By:	/s/ Matthew Beltman
	 	 	Name:  Matthew Beltman
	 	 	Title: Vice President

 

    	 

     

    

 

	 	Fifth Third Bank, National Association, as Lender
	 	 
	 	By:	/s/ Michael L. Laurie
	 	 	Name:  Michael L. Laurie
	 	 	Title: Managing Director

 

     

     

    

 

	 	Compeer Financial, PCA, as Lender
	 	 
	 	By:	/s/ Daniel J. Best
	 	 	Name:  Daniel J. Best
	 	 	Title: Director, Capital Markets

 

     

     

    

 

	 	Farm Credit Services of America, PCA, as Lender
	 	 
	 	By:	/s/ Thomas Markowski
	 	 	Name:  Thomas Markowski
	 	 	Title: Vice President

 

     

     

    

 

	 	AgCountry Farm Credit Services, PCA, as Lender
	 	 
	 	By:	/s/ Lisa Caswell
	 	 	Name:  Lisa Caswell
	 	 	Title: Vice President

 

     

     

    

 

	 	TD Bank, N.A., as Lender
	 	 
	 	By:	/s/ Maciej Niedzwiecki
	 	 	Name:  Maciej Niedzwiecki
	 	 	Title: Senior Vice President

 

     

     

    

 

	 	AgFirst Farm Credit Bank, as Lender
	 	 
	 	By:	/s/ Matthew H. Jeffords
	 	 	Name:  Matthew H. Jeffords
	 	 	Title: Vice President

 

     

     

    

 

	 	FARM CREDIT BANK OF TEXAS, as Lender
	 	 
	 	By:	/s/ Alan Robinson
	 	 	Name:  Alan Robinson
	 	 	Title: Vice President

 

     

     

    

 

	 	CITIBANK, N.A., as Lender
	 	 
	 	By:	/s/ Anthony Scalfaro
	 	 	Name:  Anthony Scalfaro
	 	 	Title: Vice President

 

     

     

    

 

	 	CoBank FCB, as Lender
	 	 
	 	By:	/s/ Kelli Cholas
	 	 	Name: Kelli Cholas
	 	 	Title: Assistant Corporate Secretarycaci-ex101_221.htm

Exhibit 10.1

 

JPMorgan Chase Bank, National Association

New York Branch

383 Madison Avenue
New York, NY, 10179

 

 

 

March 12, 2021

	
To: 
	
CACI International Inc

	

	
1100 North Glebe Road

	

	
Arlington, VA 22201

 

Re: Master Confirmation—Uncollared Accelerated Share Repurchase

This master confirmation (this “Master Confirmation”), dated as of March 12, 2021, is intended to set forth certain terms and provisions of certain Transactions (each, a “Transaction”) entered into from time to time between JPMorgan Chase Bank, National Association (“JPMorgan”) and CACI International Inc, a Delaware corporation (“Counterparty”).  This Master Confirmation, taken alone, is neither a commitment by either party to enter into any Transaction nor evidence of a Transaction.  The additional terms of any particular Transaction shall be set forth in a Supplemental Confirmation in the form of Schedule A hereto (a “Supplemental Confirmation”), which shall reference this Master Confirmation and supplement, form a part of, and be subject to this Master Confirmation.  This Master Confirmation and each Supplemental Confirmation together shall constitute a “Confirmation” as referred to in the Agreement specified below.

The definitions and provisions contained in the 2002 ISDA Equity Derivatives Definitions (the “Equity Definitions”), as published by the International Swaps and Derivatives Association, Inc., are incorporated into this Master Confirmation.  This Master Confirmation and each Supplemental Confirmation evidence a complete binding agreement between Counterparty and JPMorgan as to the subject matter and terms of each Transaction to which this Master Confirmation and such Supplemental Confirmation relate and shall supersede all prior or contemporaneous written or oral communications with respect thereto.

This Master Confirmation and each Supplemental Confirmation supplement, form a part of, and are subject to an agreement in the form of the ISDA 2002 Master Agreement (the “Agreement”) as if JPMorgan and Counterparty had executed the Agreement on the date of this Master Confirmation (but without any Schedule except for (i) the election of New York law as the governing law (without reference to its choice of law provisions) and (ii) the election that subparagraph (ii) of Section 2(c) will not apply to the Transactions). 

The Transactions shall be the sole Transactions under the Agreement.  If there exists any ISDA Master Agreement between JPMorgan and Counterparty or any confirmation or other agreement between JPMorgan and Counterparty pursuant to which an ISDA Master Agreement is deemed to exist between JPMorgan and Counterparty, then notwithstanding anything to the contrary in such ISDA Master Agreement, such confirmation or agreement or any other agreement to which JPMorgan and Counterparty are parties, the Transactions shall not be considered Transactions under, or otherwise governed by, such existing or deemed ISDA Master Agreement, and the occurrence of any Event of Default or Termination Event under the Agreement with respect to either party or any Transaction shall not, by itself, give rise to any right or obligation under any such other agreement or deemed agreement.  Notwithstanding anything to the contrary in any other agreement between the parties or their Affiliates, the Transactions shall not be “Specified Transactions” (or similarly treated) under any other agreement between the parties or their Affiliates.

All provisions contained or incorporated by reference in the Agreement shall govern this Master Confirmation and each Supplemental Confirmation except as expressly modified herein or in the related Supplemental Confirmation.

 

 

 

If, in relation to any Transaction to which this Master Confirmation and a Supplemental Confirmation relate, there is any inconsistency between the Agreement, this Master Confirmation, such Supplemental Confirmation and the Equity Definitions, the following will prevail for purposes of such Transaction in the order of precedence indicated: (i) such Supplemental Confirmation; (ii) this Master Confirmation; (iii) the Equity Definitions; and (iv) the Agreement.

1.Each Transaction constitutes a Share Forward Transaction for the purposes of the Equity Definitions.  Set forth below are the terms and conditions that, together with the terms and conditions set forth in the Supplemental Confirmation relating to any Transaction, shall govern such Transaction.

General Terms.

	
 
	
Trade Date:
	
For each Transaction, as set forth in the related Supplemental Confirmation.

	
 
	
Buyer:
	
Counterparty 

	
 
	
Seller:
	
JPMorgan 

	
 
	
Shares:
	
The common stock of Counterparty, par value USD 0.10 per share (Exchange symbol “CACI”).

	
 
	
Exchange:
	
The New York Stock Exchange

	
 
	
Related Exchange(s):
	
All Exchanges.

	
 
	
Prepayment/Variable Obligation:
	
Applicable 

	
 
	
Prepayment Amount:
	
For each Transaction, as set forth in the related Supplemental Confirmation. 

	
 
	
Prepayment Date:
	
For each Transaction, as set forth in the related Supplemental Confirmation.

Valuation.

	
 
	
VWAP Price:
	
For any Exchange Business Day, the volume-weighted average price at which the Shares trade as reported in the composite transactions for United States exchanges and quotation systems, during the regular trading session for the Exchange on such Exchange Business Day, excluding (i) trades that do not settle regular way, (ii) opening (regular way) reported trades in the consolidated system on such Exchange Business Day, (iii) trades that occur in the last ten minutes before the scheduled close of trading on the Exchange on such Exchange Business Day and ten minutes before the scheduled close of the primary trading in the market where the trade is effected, and (iv) trades on such Exchange Business Day that do not satisfy the requirements of Rule 10b-18(b)(3) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as determined in good faith by the Calculation Agent (all such trades other than any trades described in clauses (i) to (iv) above, “Rule 10b-18 Eligible Transactions”).  Counterparty acknowledges that the Calculation Agent shall refer to the Bloomberg Page “CACI US <Equity> AQR SEC” (or any successor thereto), in its judgment, for such Exchange Business Day to determine the VWAP Price in its commercially reasonable judgment, absent manifest error or unavailability of such page (or a successor thereto).

2

 

	
 
		

	
 
	
Forward Price:
	
For each Transaction, the arithmetic average of the VWAP Prices for all of the Exchange Business Days in the Calculation Period for such Transaction, subject to “Valuation Disruption” below.

	
 
	
Forward Price Adjustment Amount:
	
For each Transaction, as set forth in the related Supplemental Confirmation.

	
 
	
Calculation Period:
	
For each Transaction, the period from, and including, the Calculation Period Start Date for such Transaction to, and including, the Termination Date for such Transaction.

	
 
	
Calculation Period Start Date:
	
For each Transaction, as set forth in the related Supplemental Confirmation.

	
 
	
Termination Date:
	
For each Transaction, the Scheduled Termination Date for such Transaction; provided that JPMorgan shall have the right to designate any Exchange Business Day on or after the First Acceleration Date to be the Termination Date for all or any part of such Transaction (an “Accelerated Termination Date”) by delivering notice (an “Acceleration Notice”) to Counterparty of any such designation prior to 6:00 p.m. (New York City time) on the Exchange Business Day immediately following the designated Accelerated Termination Date. JPMorgan shall specify in each Acceleration Notice the portion of the Prepayment Amount that is subject to acceleration (which may be less than the full Prepayment Amount). If the portion of the Prepayment Amount that is subject to acceleration is less than the full Prepayment Amount, then the Calculation Agent shall make such mechanical or administrative adjustments to the terms of the Transaction (including adjusting the Prepayment Amount that remains subject to the Transaction) as appropriate in order to take into account the occurrence of such Accelerated Termination Date (including cumulative adjustments to take into account all prior Accelerated Termination Dates). 

	
 
	
Scheduled Termination Date:
	
For each Transaction, as set forth in the related Supplemental Confirmation, subject to postponement as provided in “Valuation Disruption” below.

	
 
	
First Acceleration Date:
	
For each Transaction, as set forth in the related Supplemental Confirmation.

	
 
	
Valuation Disruption:
	
The definition of “Market Disruption Event” in Section 6.3(a) of the Equity Definitions is hereby amended by deleting the words “at any time during the one-hour period that ends at the relevant Valuation Time, Latest Exercise Time, Knock-in Valuation Time or Knock-out Valuation Time, as the case may be” and inserting the words “at any time on any Scheduled Trading Day during the Calculation Period or Settlement Valuation Period” after the word “material,” in the third line thereof.

3

 

 

	
 
	

	
Section 6.3(d) of the Equity Definitions is hereby amended by deleting the remainder of the provision following the term “Scheduled Closing Time” in the fourth line thereof.

	
 
	

	
Notwithstanding anything to the contrary in the Equity Definitions, to the extent that a Disrupted Day occurs (i) in the Calculation Period, the Calculation Agent may, in its good faith and commercially reasonable discretion, postpone the Scheduled Termination Date by no more than such number of Disrupted Days, or (ii) in the Settlement Valuation Period, the Calculation Agent may, in its commercially reasonable discretion, extend the Settlement Valuation Period by no more than such number of Disrupted Days.  The Calculation Agent shall  also determine, in its commercially reasonable discretion, whether (i) such Disrupted Day is a Disrupted Day in full, in which case the VWAP Price for such Disrupted Day shall not be included for purposes of determining the Forward Price or the Settlement Price, as the case may be, or (ii) such Disrupted Day is a Disrupted Day only in part, in which case the VWAP Price for such Disrupted Day shall be determined by the Calculation Agent based on Rule 10b-18 Eligible Transactions in the Shares on such Disrupted Day taking into account the nature and duration of the relevant Market Disruption Event, and the weighting of the VWAP Price for the relevant Exchange Business Days during the Calculation Period or the Settlement Valuation Period, as the case may be, shall be adjusted in a commercially reasonable manner by the Calculation Agent for purposes of determining the Forward Price or the Settlement Price, as the case may be, with such adjustments based on, the duration of any Market Disruption Event and the volume, historical trading patterns and price of the Shares.  Any Exchange Business Day on which, as of the date hereof, the Exchange is scheduled to close prior to its normal close of trading shall be deemed not to be an Exchange Business Day; if a closure of the Exchange prior to its normal close of trading on any Exchange Business Day is scheduled following the date hereof, then such Exchange Business Day shall be deemed to be a Disrupted Day in full. The Calculation Agent shall use good faith efforts to notify Counterparty in writing of (i) the circumstances giving rise to such Disrupted Day and (ii) any such weighting, extension or suspension, each case, as soon as reasonably practicable after the occurrence of such Disrupted Day. 

	
 
	

	
If a Disrupted Day occurs during the Calculation Period for any Transaction or the Settlement Valuation Period for any Transaction, as the case may be, and each of the nine immediately following Scheduled Trading Days is a Disrupted Day (a “Disruption Event”), then the Calculation Agent, in its good faith and commercially reasonable discretion, may deem such Disruption Event (and each consecutive Disrupted Day thereafter) to be either (x) a Potential Adjustment Event in respect of such Transaction or (y) an Additional Termination Event in respect of such Transaction, with Counterparty as the sole 

4

 

	
 
		
Affected Party and such Transaction as the sole Affected Transaction.

Settlement Terms.

	
 
	
Settlement Procedures:
	
For each Transaction:

	
 
	
(i)
	
if the Number of Shares to be Delivered for such Transaction is positive, Physical Settlement shall be applicable to such Transaction; provided that JPMorgan does not, and shall not, make the agreement or the representations set forth in Section 9.11 of the Equity Definitions related to the restrictions imposed by applicable securities laws with respect to any Shares delivered by JPMorgan to Counterparty under any Transaction that arise as a result of the fact that Counterparty is the issuer of the Shares; or

	
 
	
(ii)
	
if the Number of Shares to be Delivered for such Transaction is negative, then the Counterparty Settlement Provisions in Annex A hereto shall apply to such Transaction.

	
 
	
Number of Shares to be Delivered:
	
For each Transaction, a number of Shares (rounded down to the nearest whole number) equal to (a)(i) the Prepayment Amount for such Transaction, divided by (ii)(A) the Forward Price for such Transaction minus (B) the Forward Price Adjustment Amount for such Transaction, minus (b) the number of Initial Shares for such Transaction; provided that if the result of the calculation in clause (a)(ii) is equal to or less than the Floor Price for such Transaction, then the Number of Shares to be Delivered for such Transaction shall be determined as if clause (a)(ii) were replaced with “(ii) the Floor Price for such Transaction”.  For the avoidance of doubt, if the Forward Price Adjustment Amount for any Transaction is a negative number, clause (a)(ii) of the immediately preceding sentence shall be equal to (A) the Forward Price for such Transaction, plus (B) the absolute value of the Forward Price Adjustment Amount.

	
 
	
Floor Price:
	
For each Transaction, as set forth in the related Supplemental Confirmation.

	
 
	
Excess Dividend Amount:
	
For the avoidance of doubt, all references to the Excess Dividend Amount shall be deleted from Section 9.2(a)(iii) of the Equity Definitions.

	
 
	
Settlement Date:
	
For each Transaction, if the Number of Shares to be Delivered for all or such portion of such Transaction is positive (x) in the case of an Accelerated Termination Date, the date that is one Settlement Cycle immediately following the date on which JPMorgan delivers the relevant Acceleration Notice and (y) in the case of a Termination Date occurring on the Scheduled Termination Date, the date that is one Settlement Cycle immediately following the Termination Date, in either case, for all or such portion of such Transaction (the final Settlement Date, the “Final Settlement Date”).  

5

 

	
 
	
Settlement Currency:
	
USD 

	
 
	
Initial Share Delivery:
	
For each Transaction, JPMorgan shall deliver a number of Shares equal to the Initial Shares for such Transaction to Counterparty on the Initial Share Delivery Date for such Transaction in accordance with Section 9.4 of the Equity Definitions, with such Initial Share Delivery Date deemed to be a “Settlement Date” for purposes of such Section 9.4.

	
 
	
Initial Share Delivery Date:
	
For each Transaction, as set forth in the related Supplemental Confirmation.

	
 
	
Initial Shares:
	
For each Transaction, as set forth in the related Supplemental Confirmation.

Share Adjustments.

	
 
	
Potential Adjustment Event:
	
Notwithstanding anything to the contrary in Section 11.2(e) of the Equity Definitions, repurchases effected in accordance with Section 9 below shall not constitute a Potential Adjustment Event. In addition to the events described in Section 11.2(e) of the Equity Definitions, it shall constitute an additional Potential Adjustment Event if (x) the Scheduled Termination Date for any Transaction is postponed pursuant to “Valuation Disruption” above (including, for the avoidance of doubt, pursuant to Section 7 hereof), (y) a Regulatory Disruption as described in Section 7 hereof occurs or (z) a Disruption Event occurs.  In the case of any event described in clause (x), (y) or (z) above occurs, the Calculation Agent may, in its commercially reasonable discretion, adjust any relevant terms of such Transaction in a commercially reasonable manner as necessary to preserve as nearly as practicable the fair value of such Transaction prior to such postponement, Regulatory Disruption or Disruption Event, as the case may be. 

	
 
	
Excess Dividend:
	
For any calendar quarter, any dividend or distribution on the Shares with an ex-dividend date occurring during such calendar quarter (other than any dividend or distribution of the type described in Section 11.2(e)(i) or Section 11.2(e)(ii)(A) of the Equity Definitions or any Extraordinary Dividend) (a “Dividend”) the amount or value of which per Share (as determined by the Calculation Agent), when aggregated with the amount or value (as determined by the Calculation Agent) of any and all previous Dividends with ex-dividend dates occurring in the same calendar quarter, exceeds the Ordinary Dividend Amount. “Extraordinary Dividend” means the per Share cash dividend or distribution, or a portion thereof, declared by Counterparty on the Shares that is classified by the board of directors of Counterparty as an “extraordinary” dividend.  

6

 

 

	
 
	
Consequences of Excess Dividend:
	
The declaration by Counterparty of any Excess Dividend, the ex-dividend date for which occurs or is scheduled to occur during the Relevant Dividend Period for any Transaction, may, at JPMorgan’s election in its commercially reasonable discretion, either (x) constitute an Additional Termination Event in respect of such Transaction, with Counterparty as the sole Affected Party and such Transaction as the sole Affected Transaction or (y) result in an adjustment, by the Calculation Agent, to the Floor Price in a commercially reasonable manner as the Calculation Agent determines appropriate to preserve as nearly practicable the fair value of such Transaction after taking into account such Excess Dividend. For the avoidance of doubt, any amount calculated pursuant to Section 6 of the Agreement shall not reflect the value associated with such Excess Dividend. 

 

	
 
	
Ordinary Dividend Amount:
	
For each Transaction, as set forth in the related Supplemental Confirmation.

	
 
	
Method of Adjustment:
	
Calculation Agent Adjustment 

	
 
	
Early Ordinary Dividend Payment:
	
For each Transaction, if an ex-dividend date for any Dividend that is not (x) an Excess Dividend, (y) a dividend or distribution of the type described in Section 11.2(e)(i) or Section 11.2(e)(ii)(A) of the Equity Definitions or (z) an Extraordinary Dividend, occurs during any calendar quarter occurring (in whole or in part) during the Relevant Dividend Period for such Transaction and is prior to the Scheduled Ex-Dividend Date for such Transaction for the relevant calendar quarter (as determined by the Calculation Agent), the Calculation Agent shall make such adjustment in a commercially reasonable manner to the exercise, settlement, payment or any other terms of the relevant Transaction as the Calculation Agent determines appropriate to preserve the fair value of such Transaction after taking into account solely the timing of such Dividend. For the avoidance of doubt, such adjustment is designed to capture the economic effect on such Transaction of the change in timing of such Dividend, but will not reflect the value associated with any of such Dividend declared or paid by the Counterparty to holders of record of any Shares. 

	
 
	
Scheduled Ex-Dividend Dates:
	
For each Transaction, as set forth in the related Supplemental Confirmation for each calendar quarter.

	
 
	
Relevant Dividend Period:
	
For each Transaction, the period from, and including, the Trade Date for such Transaction to, and including, the Relevant Dividend Period End Date for such Transaction.

	
 
	
Relevant Dividend Period End Date:
	
For each Transaction, if the Number of Shares to be Delivered for such Transaction is negative, the last day of the Settlement Valuation Period; otherwise, the Termination Date for such Transaction.

7

 

 

Extraordinary Events.

Consequences of Merger Events:

	
 
	
(a) Share-for-Share:
	
Cancellation and Payment 

	
 
	
(b) Share-for-Other:
	
Cancellation and Payment 

	
 
	
(c) Share-for-Combined:
	
Cancellation and Payment 

	
 
	
Tender Offer:
	
Applicable; provided that Section 12.1(d) of the Equity Definitions shall be amended by replacing (a) “10%” in the third line thereof with “20%” and (b) the words “voting shares” with the word “Shares”. 

Consequences of Tender Offers:

	
 
	
(a) Share-for-Share:
	
Modified Calculation Agent Adjustment 

	
 
	
(b) Share-for-Other:
	
Modified Calculation Agent Adjustment

	
 
	
(c) Share-for-Combined:
	
Modified Calculation Agent Adjustment

	
 
	
Nationalization, Insolvency or Delisting:
	
Cancellation and Payment; provided that in addition to the provisions of Section 12.6(a)(iii) of the Equity Definitions, it shall also constitute a Delisting if the Exchange is located in the United States and the Shares are not immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or their respective successors); if the Shares are immediately re-listed, re-traded or re-quoted on any such exchange or quotation system, such exchange or quotation system shall be deemed to be the Exchange.

Additional Disruption Events:

	
 
	
(a) Change in Law:
	
Applicable; provided that (a) Section 12.9(a)(ii) of the Equity Definitions is hereby amended by (i) replacing the phrase “the interpretation” in the third line thereof with the phrase “, or public announcement of, the formal or informal interpretation”, and  (ii) replacing the word “Shares” where it appears in clause (X) thereof with the words “Hedge Positions” and (b) JPMorgan shall not terminate any “Transaction” for a Change in Law referred to in clause (Y) of Section 12.9(a)(ii) of the Equity Definitions except to the extent it is exercising its right to terminate as a result of such “Change in Law” with respect to other similarly situated counterparties in respect of similar transactions; provided further that Section 12.9(a)(ii) of the Equity Definitions is hereby amended by replacing the parenthetical beginning after the word “regulation” in the second line thereof with the words “(including, for the avoidance of doubt and without limitation, (x) any tax law or (y) adoption or promulgation of new regulations authorized or mandated by existing statute)”.

	
 
	
(b) Failure to Deliver:
	
Applicable 

8

 

	
 
		

	
 
	
(c) Insolvency Filing:
	
Applicable 

	
 
	
(d) Loss of Stock Borrow:
	
Applicable

	
 
	
Maximum Stock Loan Rate:
	
For each Transaction, as set forth in the related Supplemental Confirmation.

 

 

	
 
	
(e) Increased Cost of Stock Borrow:
	
Applicable 

	
 
	
Initial Stock Loan Rate:
	
For each Transaction, as set forth in the related Supplemental Confirmation.

	
 
	
Hedging Party:
	
For all relevant Additional Disruption Events, JPMorgan; provided that, upon written request from Counterparty, JPMorgan shall promptly (and, in any event, within five Exchange Business Days of such request) provide Counterparty with a written explanation describing in reasonable detail any determination or calculation made by JPMorgan as Hedging Party (but without disclosing JPMorgan’s confidential or proprietary models or other information that may be confidential, proprietary or subject to contractual, legal or regulatory obligations to not disclose such information).

	
 
	
Determining Party:
	
For all relevant Additional Disruption Events, JPMorgan; provided that, upon written request from Counterparty, JPMorgan shall promptly (and, in any event, within five Exchange Business Days of such request) provide Counterparty with a written explanation describing in reasonable detail any determination or calculation made by JPMorgan as Determining Party (but without disclosing JPMorgan’s confidential or proprietary models or other information that may be confidential, proprietary or subject to contractual, legal or regulatory obligations to not disclose such information).

	
 
	
Hedging Adjustments:
	
For the avoidance of doubt, whenever the Calculation Agent, Hedging Party or Determining Party is called upon to make an adjustment or calculation pursuant to the terms of this Master Confirmation or the Equity Definitions to take into account the effect of an event, the Calculation Agent, Hedging Party or Determining Party shall make such adjustment or calculation in a commercially reasonable manner and by reference to the effect of such event on JPMorgan, assuming that JPMorgan maintains a commercially reasonable Hedge Position.

 

9

 

 

Non-Reliance/Agreements and

Acknowledgements Regarding

Hedging Activities/Additional

	
 
	
Acknowledgements:
	
Applicable 

	
2.
	
Calculation Agent.JPMorgan.  Whenever the Calculation Agent is required to act or to exercise judgment in any way with respect to any Transaction hereunder, it will do so in good faith and in a commercially reasonable manner.

Following the occurrence and during the continuation of an Event of Default pursuant to Section 5(a)(vii) of the Agreement with respect to which JPMorgan is the Defaulting Party, Counterparty shall have the right to designate an independent, nationally recognized equity derivatives dealer to replace JPMorgan as Calculation Agent, and the parties hereto shall work in good faith to execute any appropriate documentation required by such replacement Calculation Agent.

Following any determination, adjustment or calculation by the Calculation Agent, the Calculation Agent will, upon written request by Counterparty, promptly (and, in any event, within five Exchange Business Days of such request) provide to Counterparty a report (in a commonly used file format for the storage and manipulation of financial data but without disclosing JPMorgan’s confidential or proprietary models or other information that may be confidential, proprietary or subject to contractual, legal or regulatory obligations to not disclose such information) displaying in reasonable detail the basis for such determination, adjustment or calculation, as the case may be.

 

	
3.
	
Account Details.

	
 
	
(a)
	
Account for payments to Counterparty: Counterparty to provide.  

Account for delivery of Shares to Counterparty: Counterparty to provide. 

	
 
	
(b)
	
Account for payments to JPMorgan:

Bank:JPMorgan Chase Bank, N.A.

ABA#: 021000021

Acct No.: 099997979

Beneficiary:JPMorgan Chase Bank, N.A.  New York

Ref:Derivatives

Account for delivery of Shares to JPMorgan:

DTC 0352

	
4.
	
Offices.

	
 
	
(a)
	
The Office of Counterparty for each Transaction is:  Inapplicable, Counterparty is not a Multibranch Party.

10

 

	
 
	
(b)
	
The Office of JPMorgan for each Transaction is: New York

JPMorgan Chase Bank, National Association
New York Branch
383 Madison Avenue
New York, NY, 10179

	
5.
	
Notices.

	
 
	
(a)
	
Address for notices or communications to Counterparty:

CACI International Inc
1100 North Glebe Road
Arlington, VA 22201
Attention: Thomas Mutryn 

              (Executive Vice President, Chief Financial Officer and Treasurer)  
Telephone No.:703-841-4488
Email Address:tmutryn@caci.com

 

With a copy to:

 

Attention: William Koegel

(Executive Vice President, General Counsel and Secretary) 

Telephone No.:703-841-7810

Email Address: wkoegel@caci.com 

 

 

	
 
	
(b)
	
Address for notices or communications to JPMorgan:

JPMorgan Chase Bank, National Association
EDG Marketing Support
Email:edg_notices@jpmorgan.com

edg_ny_corporate_sales_support@jpmorgan.com

 

With a copy to:

Attention:Brett Chalmers
Title:Vice President
Telephone No.:(212) 622-2252
Email Address:brett.chalmers@jpmorgan.com

 

	
6.
	
Representations, Warranties and Agreements.

	
 
	
(a)
	
Additional Representations, Warranties and Covenants of Each Party.  In addition to the representations, warranties and covenants in the Agreement, each party represents, warrants and covenants to the other party that:

	
 
	
(i)
	
It is an “eligible contract participant” (as such term is defined in the Commodity Exchange Act, as amended).

	
 
	
(ii)
	
The offer and sale of each Transaction to it is intended to be exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), by virtue of Section 4(a)(2) thereof.  Accordingly, each party represents and warrants to the other that (A) it has the financial ability to bear the economic risk of its investment in each Transaction and is able to bear a total loss of its investment, (B) it is an “accredited investor” as that term is defined under Regulation D under the Securities Act and (C) the disposition of each Transaction is restricted under this Master Confirmation, the Securities Act and state securities laws.

11

 

	
 
	
(b)
	
Additional Representations, Warranties and Covenants of Counterparty.  In addition to the representations, warranties and covenants in the Agreement, Counterparty represents, warrants and covenants to JPMorgan that:

	
 
	
(i)
	
As of the Trade Date for each Transaction hereunder, (A) such Transaction is being entered into pursuant to a publicly disclosed Share buy-back program approved by its board of directors, and (B) there is no internal policy of Counterparty, whether written or oral, that would prohibit Counterparty from entering into any aspect of such Transaction, including, without limitation, the purchases of Shares to be made pursuant to such Transaction.

	
 
	
(ii)
	
As of the Trade Date for each Transaction hereunder, the purchase or writing of such Transaction and the transactions contemplated hereby will not violate Rule 13e-1 or Rule 13e-4 under the Exchange Act.

	
 
	
(iii)
	
As of the Trade Date for each Transaction hereunder, it is not entering into such Transaction, and as of the date of any election pursuant to Section 15 or the Settlement Method Election contained in the Counterparty Settlement Provisions Annex A hereto with respect to any Transaction hereunder, it is not making such election, in each case (A) on the basis of, and is not aware of, any material non-public information regarding Counterparty or the Shares, (B) in anticipation of, in connection with, or to facilitate, a distribution of its securities, a self tender offer or a third-party tender offer in violation of the Exchange Act or (C) to create actual or apparent trading activity in the Shares (or any security convertible into or exchangeable for the Shares) or to raise or depress or otherwise manipulate the price of the Shares (or any security convertible into or exchangeable for the Shares).

	
 
	
(iv)
	
Counterparty (A) is capable of evaluating investment risks independently, both in general and with regard to all transactions and investment strategies involving a security or securities; (B) will exercise independent judgment in evaluating the recommendations of any broker-dealer or its associated persons, unless it has otherwise notified the broker-dealer in writing; and (C) has total assets of at least USD 50,000,000 as of the date hereof.

	
 
	
(v)
	
As of the Trade Date for each Transaction hereunder, Counterparty is in compliance with its reporting obligations under the Exchange Act . 

	
 
	
(vi)
	
(A) The Shares are not, as of the Calculation Period Start Date, and (B) Counterparty will not, at any time during any Regulation M Period (as defined below) for any Transaction, cause the Shares to be, subject to a “restricted period” (as defined in Regulation M promulgated under the Exchange Act) unless, in the case of clause (B), Counterparty has provided written notice to JPMorgan of such restricted period not later than the Scheduled Trading Day immediately preceding the first day of such “restricted period”; Counterparty acknowledges that any such notice may cause a Disrupted Day to occur pursuant to Section 7 hereof; accordingly, Counterparty acknowledges that its delivery of such notice must comply with the standards set forth in Section 8 hereof.  Counterparty is not currently contemplating any “distribution” (as defined in Regulation M promulgated under the Exchange Act) of Shares, or any security for which Shares are a “reference security” (as defined in Regulation M promulgated under the Exchange Act).  “Regulation M Period” means, for any Transaction, (A) the Relevant Period (as defined below) for such Transaction, (B) the Settlement Valuation Period, if any, for such Transaction and (C) the Seller Termination Purchase Period (as defined below), if any, for such Transaction.  “Relevant Period” means, for any Transaction, the period commencing on the Calculation Period Start Date for such Transaction and ending on the later of (1) the earlier of (x) the Scheduled Termination Date and (y) the last Additional Relevant Day (as specified in the related Supplemental Confirmation) for such Transaction, or such earlier day as elected by JPMorgan and communicated to Counterparty on such day (or, if later, the First Acceleration Date without regard to any acceleration thereof pursuant to “Special Provisions for Acquisition Transaction Announcements” below) and (2) if Section 15 

12

 

	
 
		
hereof is applicable to such Transaction, the date on which all deliveries owed pursuant to such Section 15 have been made. 

	
 
	
(vii)
	
As of the Trade Date, the Prepayment Date and the Initial Share Delivery Date for each Transaction, Counterparty is not “insolvent” (as such term is defined under Section 101(32) of the U.S. Bankruptcy Code (Title 11 of the United States Code) (the “Bankruptcy Code”)) and Counterparty would be able to purchase a number of Shares with a value equal to the Prepayment Amount in compliance with the laws of the jurisdiction of Counterparty’s incorporation.

	
 
	
(viii)
	
Counterparty is not, and after giving effect to each Transaction will not be, required to register as an “investment company” as such term is defined in the Investment Company Act of 1940, as amended.

	
 
	
(ix)
	
Counterparty has not entered, and will not enter, into any repurchase transaction with respect to the Shares (or any security convertible into or exchangeable for the Shares) (including, without limitation, any agreements similar to the Transactions described herein) where any initial hedge period, calculation period, relevant period, settlement valuation period or seller termination purchase period (each however defined) in such other transaction will overlap at any time (including, without limitation, as a result of extensions in such initial hedge period, calculation period, relevant period, settlement valuation period or seller termination purchase period as provided in the relevant agreements) with any Relevant Period, any Settlement Valuation Period (if applicable) or any Seller Termination Purchase Period (if applicable) under this Master Confirmation, except pursuant to any such other agreements entered into with JPMorgan.  In the event that the initial hedge period, relevant period, calculation period or settlement valuation period in any other transaction overlaps with any Relevant Period, any Settlement Valuation Period (if applicable) or any Seller Termination Purchase Period (if applicable) under this Master Confirmation as a result of any postponement of the Scheduled Termination Date or extension of the Settlement Valuation Period pursuant to “Valuation Disruption” above or any analogous provision in such other transaction, except pursuant to any such other transaction entered into with JPMorgan, Counterparty shall promptly amend such other transaction to avoid any such overlap. Notwithstanding the foregoing, nothing in this Section 6(b)(ix) shall prohibit or apply to the repurchase of Shares by Counterparty from holders of awards granted under Counterparty’s equity incentive plans for the purpose of paying the tax withholding obligations arising from vesting of, or paying the exercise price in connection with the exercise of, or reacquiring Shares as a result of the forfeiture of, any such awards (collectively, “Permitted Equity Incentive Plan Purchases”).

	
 
	
(x)
	
Upon request by JPMorgan, Counterparty shall, at least one day prior to the first day of, the Calculation Period, the Settlement Valuation Period, if any, or the Seller Termination Purchase Period, if any, for any Transaction), as applicable, notify JPMorgan of the total number of Shares purchased in Rule 10b-18 purchases of blocks pursuant to the once-a-week block exception set forth in paragraph (b)(4) of Rule 10b-18 under the Exchange Act (“Rule 10b-18”) by or for Counterparty or any of its “affiliated purchasers” (as defined in Rule 10b-18) during each of the four calendar weeks preceding such day and during the calendar week in which such day occurs (“Rule 10b-18 purchase” and “blocks” each being used as defined in Rule 10b-18), which notice shall be substantially in the form set forth in Schedule B hereto.

	
 
	
(xi)
	
As of the Trade Date for each Transaction hereunder, there has not been any Merger Announcement (as defined below) with respect to any Merger Transaction that is still pending.

	
 
	
(xii)
	
The assets of Counterparty do not constitute “plan assets” under the Employee Retirement Income Security Act of 1974, as amended, the Department of Labor Regulations promulgated thereunder or similar law.

13

 

	
 
	
(c)
	
Additional Representations, Warranties and Covenants of JPMorgan.

	
 
	
(i)
	
In addition to the covenants in the Agreement and herein, JPMorgan agrees to use commercially reasonable efforts, during the Calculation Period and any Settlement Valuation Period for any Transaction, to make all purchases of Shares in connection with such Transaction in a manner that would comply with the limitations set forth in clauses (b)(1), (b)(2), (b)(3) and (b)(4) and (c) of Rule 10b-18, as if such rule were applicable to such purchases and taking into account any applicable Securities and Exchange Commission no action letters as appropriate, and subject to any delays between the execution and reporting of a trade of the Shares on the Exchange and other circumstances beyond JPMorgan’s control; provided that, during the Calculation Period, the foregoing agreement shall not apply to purchases made to dynamically hedge for JPMorgan’s own account or the account of its affiliate(s) the optionality arising under a Transaction (including, for the avoidance of doubt, timing optionality). Notwithstanding the foregoing, JPMorgan shall not be responsible for any failure to comply with (i) Rule 10b-18(b)(1) to the extent that Counterparty has failed to comply with Section 9 hereof or (ii) Rule 10b-18(b)(3) to the extent any transaction that was executed (or deemed to be executed) by or on behalf of Counterparty or an “affiliated purchaser” (as defined under Rule 10b-18) pursuant to a separate agreement is not deemed to be an “independent bid” or an “independent transaction” for purposes of Rule 10b-18(b)(3).

	
 
	
(ii)
	
In connection with each Transaction, JPMorgan represents and warrants to Counterparty that it has not, at any time prior to execution of the Supplemental Confirmation for such Transaction, entered into or discussed any offsetting transaction(s) in respect of such Transaction with any third party (other than discussions with its outside counsel).

	
 
	
(iii)
	
Within one Exchange Business Day of purchasing any Shares on behalf of Counterparty pursuant to the once-a-week block exception set forth in paragraph (b)(4) of Rule 10b-18, JPMorgan shall notify Counterparty of the total number of Shares so purchased.

	
7.
	
Regulatory Disruption.  In the event that JPMorgan concludes, in its reasonable, good faith discretion, based on advice of counsel, that it is appropriate with respect to any legal, regulatory or self-regulatory requirements or related policies and procedures (whether or not such requirements, policies or procedures are imposed by law or have been voluntarily adopted by JPMorgan, so long as such requirements, policies or procedures are related to legal, regulatory or self-regulatory issues and are generally applicable in similar situations and applied to any Transaction hereunder in a non-discriminatory manner), for it to refrain from or decrease any market activity  in order to maintain, establish or unwind a commercially reasonable hedge position on any Scheduled Trading Day or Days during the Calculation Period or, if applicable, the Settlement Valuation Period, JPMorgan may by written notice to Counterparty elect to deem that a Market Disruption Event has occurred and will be continuing on such Scheduled Trading Day or Days.  For the avoidance of doubt, JPMorgan shall make its determination pursuant to the first sentence of this section in a manner consistent with determinations made with respect to other issuers under similar facts and circumstances.

	
8.
	
10b5-1 Plan.  Counterparty represents, warrants and covenants to JPMorgan that: 

	
 
	
(a)
	
Counterparty is entering into this Master Confirmation and each Transaction hereunder in good faith and not as part of a plan or scheme to evade the prohibitions of Rule 10b5-1 under the Exchange Act (“Rule 10b5-1”) or any other antifraud or anti-manipulation provisions of the federal or applicable state securities laws and that it has not entered into or altered and will not enter into or alter any corresponding or hedging transaction or position with respect to the Shares.  Counterparty acknowledges that it is the intent of the parties that each Transaction entered into under this Master Confirmation satisfy the requirements of paragraphs (c)(1)(i)(A) and (B) of Rule 10b5-1 and each Transaction entered into under this Master Confirmation shall be interpreted so as to satisfy the requirements of Rule 10b5-1(c).

	
 
	
(b)
	
During the Calculation Period and the Settlement Valuation Period, if any, for any Transaction and in connection with the delivery of any Alternative Delivery Units for any Transaction, JPMorgan (or its agent or Affiliate) may effect transactions in Shares in connection with such Transaction.  The timing of such transactions by JPMorgan, the price paid or received per Share pursuant to such 

14

 

	
 
		
transactions and the manner in which such transactions are made, including, without limitation, whether such transactions are made on any securities exchange or privately, shall be within the sole judgment of JPMorgan  (subject, for the avoidance of doubt, to the express requirements of Section 6(c)(i)).  Counterparty acknowledges and agrees that all such transactions shall be made in JPMorgan’s sole judgment and for JPMorgan’s own account.

	
 
	
(c)
	
Counterparty does not have, and shall not attempt to exercise, any control or influence over how, when or whether JPMorgan (or its agent or Affiliate) makes any “purchases or sales” (within the meaning of Rule 10b5-1(c)(1)(i)(B)(3)) in connection with any Transaction, including, without limitation, over how, when or whether JPMorgan (or its agent or Affiliate) enters into any hedging transactions.  Counterparty represents and warrants that it has consulted with its own advisors as to the legal aspects of its adoption and implementation of this Master Confirmation and each Supplemental Confirmation under Rule 10b5-1.

	
 
	
(d)
	
Counterparty acknowledges and agrees that any amendment, modification, waiver or termination of this Master Confirmation or any Supplemental Confirmation must be effected in a manner consistent with  Rule 10b5-1(c).  Without limiting the generality of the foregoing, any such amendment, modification, waiver or termination shall be made in good faith and not as part of a plan or scheme to evade the prohibitions of Rule 10b-5, and no such amendment, modification or waiver shall be made at any time at which Counterparty or any officer, director, manager or similar person of Counterparty is aware of any material non-public information regarding Counterparty or the Shares.

	
 
	
(e)
	
Counterparty shall not, directly or indirectly, communicate any information relating to the Shares or any Transaction (including, without limitation, any notices required by Section 10(a) hereof) to any employee of JPMorgan, other than as set forth in the Communications Procedures attached as Annex B hereto.

	
9.
	
Counterparty Purchases.  Counterparty (or any “affiliated purchaser” as defined in Rule 10b-18) shall not, without the prior written consent of JPMorgan, directly or indirectly (including, without limitation, by means of a derivative instrument) purchase, offer to purchase, place any bid or limit order that would effect a purchase of, or commence any tender offer relating to, any Shares (or equivalent interest, including, without limitation, a unit of beneficial interest in a trust or limited partnership or a depository share), listed contracts on the Shares or securities that are convertible into, or exchangeable or exercisable for Shares (including, without limitation, any Rule 10b-18 purchases of blocks (as defined in Rule 10b-18)) during any Relevant Period, any Settlement Valuation Period (if applicable) or any Seller Termination Purchase Period (if applicable), under this Master Confirmation, except through JPMorgan (and, for the avoidance of doubt, JPMorgan shall not be obligated to effect any such purchases). If JPMorgan is requested, and agrees, to make any such purchases, JPMorgan will cooperate in good faith with Counterparty to execute mutually acceptable documentation pursuant to which JPMorgan shall make any such purchases. Notwithstanding the foregoing, (i) an agent independent of Counterparty may purchase Shares effected by or for an issuer plan in accordance with the requirements of Section 10b-18(a)(13)(ii) under the Exchange Act (with “issuer plan” and “agent independent of Counterparty” each being used herein as defined in Rule 10b-18) and (ii) Counterparty or any “affiliated purchaser” may purchase Shares in (x) unsolicited transactions or (y) privately negotiated (off-market) transactions, in each case, so long as, (A) such transactions would not reasonably be expected to result in any market purchases and (B) such transactions are not “Rule 10b-18 purchases” (as defined in Rule 10b-18), in each case, without the consent of JPMorgan. In addition, nothing in this Section 9 shall prohibit or apply to Permitted Equity Incentive Plan Purchases or to any other acquisition, exercise, exchange or other transaction in connection with awards under any equity incentive plan or program of Counterparty, so long as, in each case, such purchase, acquisition, exercise, exchange or other transaction would not reasonably be expected to result in any market purchases. 

	
10.
	
Special Provisions for Merger Transactions.  Notwithstanding anything to the contrary herein or in the Equity Definitions:

	
 
	
(a)
	
Counterparty agrees that it: 

	
 
	
(i)
	
will not during the period commencing on the Trade Date for any Transaction and ending on the last day of the Relevant Period or, if applicable, the later of the last day of the 

15

 

	
 
		
Settlement Valuation Period and the last day of the Seller Termination Purchase Period, for such Transaction make, or permit to be made (in each case, to the extent within Counterparty’s control), any public announcement (as defined in Rule 165(f) under the Securities Act) of any Merger Transaction or potential Merger Transaction (a “Merger Announcement”) unless such Merger Announcement is made prior to the opening or after the close of the regular trading session on the Exchange for the Shares; 

	
 
	
(ii)
	
shall promptly (but in any event prior to the next opening of the regular trading session on the Exchange) notify JPMorgan following any such Merger Announcement that such Merger Announcement has been made; and 

	
 
	
(iii)
	
shall promptly (but in any event prior to the next opening of the regular trading session on the Exchange) provide JPMorgan with written notice specifying (i) Counterparty’s average daily Rule 10b-18 Purchases (as defined in Rule 10b-18) during the three full calendar months immediately preceding the announcement date of any Merger Transaction or potential Merger Transaction that were not effected through JPMorgan or its Affiliates and (ii) the number of Shares purchased pursuant to the proviso in Rule 10b-18(b)(4) under the Exchange Act for the three full calendar months preceding the announcement date of any Merger Transaction or potential Merger Transaction.  Such written notice shall be deemed to be a certification by Counterparty to JPMorgan that such information is true and correct.  In addition, Counterparty shall promptly notify JPMorgan of the earlier to occur of the completion of such transaction and the completion of the vote by target shareholders.

	
 
	
(b)
	
Counterparty acknowledges that any such Merger Announcement or delivery of a notice with respect thereto may cause the terms of any Transaction to be adjusted to the extent expressly provided herein; accordingly, Counterparty acknowledges that its delivery of such notice must comply with the standards set forth in Section 8 hereof.

	
 
	
(c)
	
Upon the occurrence of any Merger Announcement (whether made by Counterparty or a third party), JPMorgan in its good faith, reasonable discretion, based on the advice of counsel, may elect to deem that a Market Disruption Event has occurred and will be continuing on such Exchange Business Day or Days as determined by JPMorgan (it being understood that the consequences set forth under Potential Adjustment Event or under Valuation Disruption may result as provided in such provisions).

“Merger Transaction” means any merger, acquisition or similar transaction involving a recapitalization as contemplated by Rule 10b-18(a)(13)(iv) under the Exchange Act, other than any such transaction in which the consideration consists solely of cash and there is no valuation period. 

	
11.
	
Special Provisions for Acquisition Transaction Announcements.  Notwithstanding anything to the contrary herein or in the Equity Definitions:

	
 
	
(a)
	
If an Acquisition Transaction Announcement occurs after the Trade Date and on or prior to the Final Settlement Date for any Transaction, then the Calculation Agent shall make such adjustments to the Forward Price Adjustment Amount (including reducing the Forward Price Adjustment Amount to zero or to a negative number), if any, as the Calculation Agent shall determine in its good faith and any commercially reasonable judgment to be necessary to preserve the fair value of the Transaction after giving effect to such Acquisition Transaction Announcement (including adjustments to account for changes in volatility, expected dividends, stock loan rate, value of any commercially reasonable Hedge Positions in connection with the Transaction and liquidity relevant to the Shares or to such Transaction).  If an Acquisition Transaction Announcement occurs after the Trade Date, but prior to the First Acceleration Date, of any Transaction, the First Acceleration Date shall be the date of such Acquisition Transaction Announcement.  If the Number of Shares to be Delivered for any settlement of any Transaction is a negative number as a result of any adjustment described in this clause (a), then the terms of the Counterparty Settlement Provisions in Annex A hereto shall apply.

16

 

	
 
	
(b)
	
“Acquisition Transaction Announcement” means (i) the announcement of an Acquisition Transaction or an event that, if consummated, would result in an Acquisition Transaction, (ii) an announcement that Counterparty or any of its subsidiaries has entered into an agreement, a letter of intent or an understanding designed to result in an Acquisition Transaction, (iii) the announcement of the intention to solicit or enter into, or to explore strategic alternatives or other similar undertaking that may include, an Acquisition Transaction, (iv) any other announcement that in the commercially reasonable judgment of the Calculation Agent is reasonably likely to result in an Acquisition Transaction, or (v) any announcement of any change or amendment to any previous Acquisition Transaction Announcement (including any announcement of the abandonment of any such previously announced Acquisition Transaction, agreement, letter of intent, understanding or intention).  For the avoidance of doubt, announcements as used in the definition of Acquisition Transaction Announcement refer to any public announcement whether made by Counterparty or a third party.

	
 
	
(c)
	
“Acquisition Transaction” means (i) any Merger Event (for purposes of this definition the definition of Merger Event shall be read with the references therein to “100%” being replaced by “25%” and references to “50%” being replaced by “75%” and without reference to the clause beginning immediately following the definition of Reverse Merger therein to the end of such definition) or Tender Offer, (ii) the sale or transfer of all or substantially all of the assets of Counterparty, (iii) a recapitalization, reclassification, binding share exchange or other similar transaction with respect to Counterparty, (iv) any acquisition by Counterparty or any of its subsidiaries where the aggregate consideration transferable by Counterparty or its subsidiaries exceeds 20% of the market capitalization of Counterparty, (v) any lease, exchange, transfer, disposition (including, without limitation, by way of spin-off or distribution) of assets (including, without limitation, any capital stock or other ownership interests in subsidiaries, but, for the avoidance of doubt, not including any capital stock of Counterparty) or other similar event by Counterparty or any of its subsidiaries where the aggregate consideration transferable or receivable by or to Counterparty or its subsidiaries exceeds 20% of the market capitalization of Counterparty, measured as of the relevant date of announcement or (vi) any transaction in which Counterparty or its board of directors has a legal obligation to make a recommendation to its shareholders in respect of such transaction (whether pursuant to Rule 14e-2 under the Exchange Act or otherwise).  

	
12.
	
Acknowledgments.

	
 
	
(a)
	
The parties hereto intend for:

	
 
	
(i) 
	
each Transaction to be a “securities contract” as defined in Section 741(7) of the Bankruptcy Code and a “forward contract” as defined in Section 101(25) of the Bankruptcy Code, and the parties hereto to be entitled to the protections afforded by, among other Sections, Sections 362(b)(6), 362(b)(27), 362(o), 546(e), 546(j), 555, 556, 560 and 561 of the Bankruptcy Code; 

	
 
	
(ii) 
	
the Agreement to be a “master netting agreement” as defined in Section 101(38A) of the Bankruptcy Code; 

	
 
	
(iii) 
	
a party’s right to liquidate, terminate or accelerate any Transaction, net out or offset termination values or payment amounts, and to exercise any other remedies upon the occurrence of any Event of Default or Termination Event under the Agreement with respect to the other party or any Extraordinary Event that results in the termination or cancellation of any Transaction to constitute a “contractual right” (as defined in the Bankruptcy Code); and 

	
 
	
(iv) 
	
all payments for, under or in connection with each Transaction, all payments for the Shares (including, for the avoidance of doubt, payment of the Prepayment Amount) and the transfer of such Shares to constitute “settlement payments” and “transfers” (as defined in the Bankruptcy Code).

17

 

 

	
 
	
(b)
	
Counterparty acknowledges that:

	
 
	
(i)
	
during the term of any Transaction, JPMorgan and its Affiliates may buy or sell Shares or other securities or buy or sell options or futures contracts or enter into swaps or other derivative securities in order to establish, adjust or unwind its hedge position with respect to such Transaction; 

	
 
	
(ii)
	
JPMorgan and its Affiliates may also be active in the market for the Shares and Share-linked transactions other than in connection with hedging activities in relation to any Transaction; 

	
 
	
(iii)
	
JPMorgan shall make its own determination as to whether, when or in what manner any hedging or market activities in Counterparty’s securities shall be conducted and shall do so in a manner that it deems appropriate to hedge its price and market risk with respect to the Forward Price and the VWAP Price; 

	
 
	
(iv)
	
any market activities of JPMorgan and its Affiliates with respect to the Shares may affect the market price and volatility of the Shares, as well as the Forward Price, the VWAP Price and the Settlement Price, each in a manner that may be adverse to Counterparty; and 

	
 
	
(v)
	
each Transaction is a derivatives transaction in which it has granted JPMorgan an option; JPMorgan may purchase shares for its own account at an average price that may be greater than, or less than, the price paid by Counterparty under the terms of the related Transaction.

	
13.
	
No Collateral, Netting or Setoff.  Notwithstanding any provision of the Agreement or any other agreement between the parties, including the Credit Agreement, dated as of October 21, 2010, as amended (the “Credit Agreement”), among Counterparty, Bank of America, N.A., as administrative agent, certain lenders including JPMorgan, and the other parties thereto, to the contrary, the obligations of Counterparty hereunder are not secured by any collateral or supported by any guaranty, including the “Collateral” and the “Guaranty” (each as defined in the Credit Agreement).  Obligations under any Transaction shall not be netted, recouped or set off (including pursuant to Section 6 of the Agreement) against any other obligations of the parties, whether arising under the Agreement, this Master Confirmation or any Supplemental Confirmation, or under any other agreement between the parties hereto, by operation of law or otherwise, and no other obligations of the parties shall be netted, recouped or set off (including pursuant to Section 6 of the Agreement) against obligations under any Transaction, whether arising under the Agreement, this Master Confirmation or any Supplemental Confirmation, or under any other agreement between the parties hereto, by operation of law or otherwise, and each party hereby waives any such right of setoff, netting or recoupment.   

	
14.
	
Delivery of Shares.  Notwithstanding anything to the contrary herein, JPMorgan may, by prior notice to Counterparty, satisfy its obligation to deliver any Shares or other securities on any date due (an “Original Delivery Date”) by making separate deliveries of Shares or such securities, as the case may be, at more than one time on or prior to such Original Delivery Date, so long as the aggregate number of Shares and other securities so delivered on or prior to such Original Delivery Date is equal to the number required to be delivered on such Original Delivery Date.

	
15.
	
Alternative Termination Settlement.  In the event that (a) an Early Termination Date (whether as a result of an Event of Default or a Termination Event) occurs or is designated with respect to any Transaction or (b) any Transaction is cancelled or terminated upon the occurrence of an Extraordinary Event (except as a result of (i) a Nationalization, Insolvency or Merger Event in which the consideration to be paid to holders of Shares consists solely of cash, (ii) a Merger Event or Tender Offer that is within Counterparty’s control, or (iii) an Event of Default in which Counterparty is the Defaulting Party or a Termination Event in which Counterparty is the Affected Party other than an Event of Default of the type described in Section 5(a)(iii), (v), (vi), (vii) or (viii) of the Agreement or a Termination Event of the type described in Section 5(b) of the Agreement, in each case that resulted from an event or events outside Counterparty’s control), if either party would owe any amount to the other party pursuant to Section 6(d)(ii) of the Agreement or any Cancellation Amount pursuant to Article 12 of the Equity Definitions (any such amount, a “Payment Amount”), then, in lieu of any payment of such Payment Amount, Counterparty may, no later than the Early Termination Date or the date on which such Transaction is terminated or cancelled, elect to deliver or for JPMorgan to deliver, as the case may be, 

18

 

		
to the other party a number of Shares (or, in the case of a Nationalization, Insolvency or Merger Event, a number of units, each comprising the number or amount of the securities or property that a hypothetical holder of one Share would receive in such Nationalization, Insolvency or Merger Event, as the case may be (each such unit, an “Alternative Delivery Unit”)) with a value equal to the Payment Amount, as determined in a commercially reasonable manner by the Calculation Agent over a commercially reasonable period of time and in a commercially reasonable manner (and the parties agree that, in making such determination of value, the Calculation Agent may take into account  the market price of the Shares or Alternative Delivery Units on the Early Termination Date or the date of early cancellation or termination, as the case may be, and, if such delivery is made by JPMorgan, the prices at which JPMorgan purchases Shares or Alternative Delivery Units in a commercially reasonable manner to fulfill its delivery obligations under this Section 15), assuming that such prices reflect the prevailing market prices of the Shares or Alternative Delivery Units, as the case may be; provided that in determining the composition of any Alternative Delivery Unit, if the relevant Nationalization, Insolvency or Merger Event involves a choice of consideration to be received by holders, such holder shall be deemed to have elected to receive the maximum possible amount of cash;  provided further that Counterparty may make such election only if Counterparty represents and warrants to JPMorgan, in writing on the date it notifies JPMorgan of such election, that, as of such date, Counterparty is not aware of any material non-public information regarding Counterparty or the Shares and is making such election in good faith and not as part of a plan or scheme to evade compliance with the federal securities laws; and provided further that if JPMorgan would owe Counterparty any Payment Amount and Counterparty does not elect to require JPMorgan to satisfy such Payment Amount with Shares or Alternative Delivery Units, as the case may be, in whole, JPMorgan shall have the right, in its sole discretion, to elect to satisfy any portion of such Payment Amount that Counterparty has not so elected be satisfied with Shares or Alternative Delivery Units, as the case may be, notwithstanding Counterparty’s failure to so elect .  If delivery of Shares or Alternative Delivery Units, as the case may be, pursuant to this Section 15 is to be made by Counterparty, paragraphs 2 through 7 of Annex A hereto shall apply as if (A) such delivery were a settlement of such Transaction to which Net Share Settlement applied, (B) the Cash Settlement Payment Date were the Early Termination Date or the date of early cancellation or termination, as the case may be, and (C) the Forward Cash Settlement Amount were equal to (x) zero minus (y) the Payment Amount owed by Counterparty.  For the avoidance of doubt, if Counterparty does not elect for the provisions of this Section 15 relating to the delivery of Shares or Alternative Delivery Units, as the case may be, to apply to any Payment Amount, the provisions of Article 12 of the Equity Definitions, or the provisions of Section 6(d)(ii) of the Agreement, as the case may be, shall apply.  If delivery of Shares or Alternative Delivery Units, as the case may be, is to be made by JPMorgan pursuant to this Section 15, the period during which JPMorgan purchases Shares or Alternative Delivery Units to fulfill its delivery obligations under this Section 15 shall be referred to as the “Seller Termination Purchase Period.”

	
16.
	
Calculations and Payment Date upon Early Termination.  The parties acknowledge and agree that in calculating (a) the Close-Out Amount pursuant to Section 6 of the Agreement and (b) the amount due upon cancellation or termination of any Transaction (whether in whole or in part) pursuant to Article 12 of the Equity Definitions as a result of an Extraordinary Event, JPMorgan may, if commercially reasonable to do so, determine such amount based on expected losses assuming a commercially reasonable (including, without limitation, with regard to reasonable legal and regulatory guidelines) risk bid were used to determine loss.  Notwithstanding anything to the contrary in Section 6(d)(ii) of the Agreement or Article 12 of the Equity Definitions, all amounts calculated as being due in respect of an Early Termination Date under Section 6(e) of the Agreement or upon cancellation or termination of the relevant Transaction under Article 12 of the Equity Definitions will be payable (i) on the day that notice of the amount payable is effective, if notice is received prior to 11:00 a.m. (New York City time), or (ii) on the Exchange Business Day following the day that notice of the amount payable is effective, if notice is received at or after 11:00 a.m. (New York City time); provided that if Counterparty elects to receive or deliver Shares or Alternative Delivery Units in accordance with Section 15, such Shares or Alternative Delivery Units shall be delivered on a date selected by JPMorgan as promptly as practicable.

	
17.
	
Limit on Beneficial Ownership.  Notwithstanding any other provisions hereof, JPMorgan shall not be entitled to take delivery of any Shares deliverable hereunder to the extent (but only to the extent) that, after such receipt of any Shares hereunder, the Equity Percentage would exceed 7.5%.  Any purported delivery hereunder shall be void and have no effect to the extent (but only to the extent) that, after such delivery the Equity Percentage would exceed 7.5%. If any delivery owed to JPMorgan hereunder is not made, in whole or in part, as a result of this provision, Counterparty’s obligation to make such delivery shall not be 

19

 

		
extinguished and Counterparty shall make such delivery as promptly as practicable after, but in no event later than one Business Day after, JPMorgan gives notice to Counterparty that, after such delivery, the Equity Percentage would not exceed 7.5%.  The “Equity Percentage” as of any day is the fraction, expressed as a percentage, (A) the numerator of which is the number of Shares that JPMorgan and any of its affiliates or any other person subject to aggregation with JPMorgan for purposes of the “beneficial ownership” test under Section 13 of the Exchange Act, or any “group” (within the meaning of Section 13) of which JPMorgan is or may be deemed to be a part beneficially owns (within the meaning of Section 13 of the Exchange Act), without duplication, on such day (or, to the extent that for any reason the equivalent calculation under Section 16 of the Exchange Act and the rules and regulations thereunder results in a higher number, such higher number) and (B) the denominator of which is the number of Shares outstanding on such day.

	
18.
	
Maximum Share Delivery.  Notwithstanding anything to the contrary in this Master Confirmation, in no event shall JPMorgan be required to deliver any Shares, or any Shares or other securities comprising Alternative Delivery Units, in respect of any Transaction in excess of the Maximum Number of  Shares set forth in the Supplemental Confirmation for such Transaction.

	
19.
	
Additional Termination Events.

	
 
	
(a)
	
The occurrence of an event described in paragraph III of Annex B hereto will constitute an Additional Termination Event, with Counterparty as the sole Affected Party and the Transactions specified in such paragraph III as the Affected Transactions.

	
 
	
(b)
	
Notwithstanding anything to the contrary in Section 6 of the Agreement, if a Termination Price is specified in the Supplemental Confirmation for any Transaction, then an Additional Termination Event will occur without any notice or action by JPMorgan or Counterparty if, on two consecutive Exchange Business Days, the price of the Shares on the Exchange at any time is below such Termination Price, with Counterparty as the sole Affected Party, such Transaction as the sole Affected Transaction  and such second consecutive Exchange Business Day as the “Early Termination Date” for purposes of the Agreement.

	
20.
	
Non-confidentiality.  JPMorgan and Counterparty hereby acknowledge and agree that, subject to Section 8(e) hereof, each is authorized to disclose every aspect of this Master Confirmation, any Supplemental Confirmation and the transactions contemplated hereby and thereby to any and all persons, without limitation of any kind, and there are no express or implied agreements, arrangements or understandings to the contrary.

	
21.
	
[Reserved] 

	
22.
	
Assignment and Transfer; Designation of Affiliates.  Notwithstanding anything to the contrary in the Agreement, JPMorgan may assign any of its rights or duties hereunder to any one or more of its Affiliates without the prior written consent of Counterparty; provided that (i) any such Affiliate has a long-term issuer rating that is equal to or better than JPMorgan’s credit rating at the time of such assignment, or (ii) any such Affiliate’s obligations hereunder will be guaranteed, pursuant to the terms of a customary guarantee in a form used by JPMorgan generally for similar transactions, by JPMorgan or JPMorgan’s ultimate parent; and provided further that, after such assignment, Counterparty shall be entitled to a payment, on any payment date, that is not less than the payment Counterparty would have received in the absence of such assignment on account of any deduction or withholding under Section 2(d)(i) of the Agreement, except to the extent such deduction or withholding results from a Change in Tax Law (as defined in the Agreement) occurring after the date of such assignment.  Notwithstanding any other provision in this Master Confirmation to the contrary requiring or allowing JPMorgan to purchase, sell, receive or deliver any Shares or other securities to or from Counterparty, JPMorgan may designate any of its Affiliates to purchase, sell, receive or deliver such Shares or other securities and otherwise to perform JPMorgan’s obligations in respect of any Transaction and any such designee may assume such obligations.  JPMorgan may assign the right to receive Settlement Shares to any third party who may legally receive Settlement Shares.  JPMorgan shall be discharged of its obligations to Counterparty only to the extent of any such performance.  For the avoidance of doubt, JPMorgan hereby acknowledges that notwithstanding any such designation hereunder, to the extent any of JPMorgan’s obligations in respect of any Transaction are not completed by its designee, JPMorgan shall be obligated to continue to perform or to cause any other of its designees to perform in respect of such obligations.

20

 

	
23.
	
Amendments to the Equity Definitions.

	
 
	
(a)
	
Section 11.2(a) of the Equity Definitions is hereby amended by deleting the words “a diluting or concentrative” and replacing them with the words “a material economic” and adding the phrase “or such Transaction” at the end of the sentence.

	
 
	
(b)
	
Section 11.2(c) of the Equity Definitions is hereby amended by (i) replacing the words “a diluting or concentrative” with “a material economic” in the fifth line thereof, (ii) adding the phrase “or such Transaction” after the words “the relevant Shares” in the same sentence, (iii) replacing the words “a diluting or concentrative” with “a material economic” in the sixth to last line thereof, and (iv) deleting the phrase “(provided that no adjustments will be made to account solely for changes in volatility, expected dividends, stock loan rate or liquidity relative to the relevant Shares)” and replacing it with the phrase “(and, for the avoidance of doubt, adjustments may be made to account solely for changes in volatility, stock loan rate or liquidity relative to the relevant Shares).”

	
 
	
(c)
	
Section 11.2(e) of the Equity Definitions is hereby amended by deleting clause (iii) thereof in its entirety. 

	
 
	
(d)
	
Section 11.2(e)(vii) of the Equity Definitions is hereby amended by deleting the words “a diluting or concentrative” and replacing them with the words “a material economic” and adding the phrase “or the relevant Transaction” at the end of the sentence.

	
 
	
(e)
	
Section 12.6(a)(ii) of the Equity Definitions is hereby amended by (i) deleting from the fourth line thereof the word “or” after the word “official” and inserting a comma therefor, and (ii) deleting the semi-colon at the end of subsection (B) thereof and inserting the following words therefor “or (C) at JPMorgan’s option, the occurrence of any of the events specified in Section 5(a)(vii) (1) through (9) of the ISDA Master Agreement with respect to that Issuer.”

	
 
	
(f)
	
Section 12.9(b)(iv) of the Equity Definitions is hereby amended by:

	
 
	
(i)
	
deleting (1) subsection (A) in its entirety, (2) the phrase “or (B)” following subsection (A) and (3) the phrase “in each case” in subsection (B); and

	
 
	
(ii)
	
replacing the phrase “neither the Non-Hedging Party nor the Lending Party lends Shares” with the phrase “such Lending Party does not lend Shares” in the penultimate sentence.

	
 
	
(g)
	
Section 12.9(b)(v) of the Equity Definitions is hereby amended by:

	
 
	
(i)
	
adding the phrase “; provided that the Non-Hedging Party may so elect to terminate the Transaction only if the Non-Hedging Party represents and warrants to the Hedging Party in writing on the date it notifies the Hedging Party of such election that, as of such date, the Non-Hedging Party is not aware of any material non-public information regarding Counterparty or the Shares and is making such election in good faith and not as part of a plan or scheme to evade compliance with the federal securities laws” immediately prior to the period at the end of subsection (C); and

	
 
	
(ii)
	
deleting clause (X) in the final sentence.

	
24.
	
Extraordinary Dividend.  If Counterparty declares any Extraordinary Dividend that has an ex-dividend date during the period commencing on the Trade Date for any Transaction and ending on the last day of the Relevant Period or, if applicable, the later of the last day of the Settlement Valuation Period and the last day of the Seller Termination Purchase Period, for such Transaction, then prior to or on the date on which such Extraordinary Dividend is paid by Counterparty to holders of record, Counterparty shall pay to JPMorgan, for each Transaction under this Master Confirmation, an amount in cash equal to the product of (i) the amount of such Extraordinary Dividend and (ii) the theoretical short delta number of shares as of the opening of business on the related ex-dividend date, as determined by the Calculation Agent, required for JPMorgan to hedge its exposure to such Transaction in a commercially reasonable manner.

21

 

	
25.
	
Status of Claims in Bankruptcy.  JPMorgan acknowledges and agrees that neither this Master Confirmation nor any Supplemental Confirmation is intended to convey to JPMorgan rights against Counterparty with respect to any Transaction that are senior to the claims of common stockholders of Counterparty in any United States bankruptcy proceedings of Counterparty; provided that nothing herein shall limit or shall be deemed to limit JPMorgan’s right to pursue remedies in the event of a breach by Counterparty of its obligations and agreements with respect to any Transaction; provided further that nothing herein shall limit or shall be deemed to limit JPMorgan’s rights in respect of any transactions other than any Transaction.

	
26.
	
Wall Street Transparency and Accountability Act.  In connection with Section 739 of the Wall Street Transparency and Accountability Act of 2010 (“WSTAA”), the parties hereby agree that neither the enactment of WSTAA or any regulation under the WSTAA, nor any requirement under WSTAA or an amendment made by WSTAA, nor any similar legal certainty provision in any legislation enacted, or rule or regulation promulgated, on or after the date of this Master Confirmation, shall limit or otherwise impair either party’s otherwise applicable rights to terminate, renegotiate, modify, amend or supplement any Supplemental Confirmation, this Master Confirmation or the Agreement, as applicable, arising from a termination event, force majeure, illegality, increased costs, regulatory change or similar event under any Supplemental Confirmation, this Master Confirmation, the Equity Definitions incorporated herein, or the Agreement (including, without limitation, rights arising from Change in Law, Loss of Stock Borrow, Increased Cost of Stock Borrow, Hedging Disruption, Increased Cost of Hedging, or Illegality).

	
27.
	
Delivery of Cash.  For the avoidance of doubt, other than payment of the Prepayment Amount by Counterparty for each Transaction and any payment required to be made pursuant to Section 23, nothing in this Master Confirmation shall be interpreted as requiring Counterparty to cash settle any Transaction, except in circumstances where cash settlement is within Counterparty’s control (including, without limitation, where Counterparty does not timely elect to receive or deliver Shares in respect of the settlement of such Transactions) or in those circumstances in which all or substantially all holders of the Shares would also receive cash.

	
28.
	
Communications with Employees of J.P. Morgan Securities LLC.  If Counterparty interacts with any employee of J.P. Morgan Securities LLC with respect to any Transaction, Counterparty is hereby notified that such employee will act solely as an authorized representative of JPMorgan Chase Bank, N.A. (and not as a representative of J.P. Morgan Securities LLC) in connection with such Transaction.

	
29.
	
Waiver of Jury Trial.  EACH PARTY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING RELATING TO THE AGREEMENT, THIS MASTER CONFIRMATION, EACH SUPPLEMENTAL CONFIRMATION, THE TRANSACTIONS HEREUNDER AND ALL MATTERS ARISING IN CONNECTION WITH THE AGREEMENT, THIS MASTER CONFIRMATION AND ANY SUPPLEMENTAL CONFIRMATION AND THE TRANSACTIONS HEREUNDER.  EACH PARTY (I) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF SUCH A SUIT, ACTION OR PROCEEDING, SEEK TO ENFORCE THE FOREGOING WAIVER AND (II) ACKNOWLEDGES THAT IT AND THE OTHER PARTY HAVE BEEN INDUCED TO ENTER INTO THE TRANSACTIONS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS PROVIDED HEREIN.

	
30.
	
Counterparts.  This Master Confirmation may be executed in any number of counterparts, all of which shall constitute one and the same instrument, and any party hereto may execute this Master Confirmation by signing and delivering one or more counterparts.

	
31.
	
U.S. Resolution Stay Protocol.  The parties acknowledge and agree that (i) to the extent that prior to the date hereof both parties have adhered to the 2018 ISDA U.S. Resolution Stay Protocol (the “Protocol”), the terms of the Protocol are incorporated into and form a part of the Agreement, and for such purposes the Agreement shall be deemed a Protocol Covered Agreement, JPMorgan shall be deemed a Regulated Entity and Counterparty shall be deemed an Adhering Party; (ii) to the extent that prior to the date hereof the parties have executed a separate agreement the effect of which is to amend the qualified financial contracts between them to conform with the requirements of the QFC Stay Rules (the “Bilateral Agreement”), the terms of the Bilateral Agreement are incorporated into and form a part of the Agreement, and for such purposes the 

22

 

		
Agreement shall be deemed a Covered Agreement, JPMorgan shall be deemed a Covered Entity and Counterparty shall be deemed a Counterparty Entity; or (iii) if clause (i) and clause (ii) do not apply, the terms of Section 1 and Section 2 and the related defined terms (together, the “Bilateral Terms”) of the form of bilateral template entitled “Full-Length Omnibus (for use between U.S. G-SIBs and Corporate Groups)” published by ISDA on November 2, 2018 (currently available on the 2018 ISDA U.S. Resolution Stay Protocol page at www.isda.org and, a copy of which is available upon request), the effect of which is to amend the qualified financial contracts between the parties thereto to conform with the requirements of the QFC Stay Rules, are hereby incorporated into and form a part of the Agreement, and for such purposes the Agreement shall be deemed a “Covered Agreement,” JPMorgan shall be deemed a “Covered Entity” and Counterparty shall be deemed a “Counterparty Entity.” In the event that, after the date of the Agreement, both parties hereto become adhering parties to the Protocol, the terms of the Protocol will replace the terms of this paragraph. In the event of any inconsistencies between the Agreement and the terms of the Protocol, the Bilateral Agreement or the Bilateral Terms (each, the “QFC Stay Terms”), as applicable, the QFC Stay Terms will govern. Terms used in this paragraph without definition shall have the meanings assigned to them under the QFC Stay Rules. For purposes of this paragraph, references to “the Agreement” include any related credit enhancements entered into between the parties or provided by one to the other. In addition, the parties agree that the terms of this paragraph shall be incorporated into any related covered affiliate credit enhancements, with all references to JPMorgan replaced by references to the covered affiliate support provider.

“QFC Stay Rules” means the regulations codified at 12 C.F.R. 252.2, 252.81–8, 12 C.F.R. 382.1-7 and 12 C.F.R. 47.1-8, which, subject to limited exceptions, require an express recognition of the stay-and-transfer powers of the FDIC under the Federal Deposit Insurance Act and the Orderly Liquidation Authority under Title II of the Dodd Frank Wall Street Reform and Consumer Protection Act and the override of default rights related directly or indirectly to the entry of an affiliate into certain insolvency proceedings and any restrictions on the transfer of any covered affiliate credit enhancements.

	
32.
	
CARES Act.  Counterparty represents and warrants that it has not applied, and throughout the term of any Transaction shall not apply, for a loan, loan guarantee, direct loan (as that term is defined in the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”)) or other investment, or to receive any financial assistance or relief under any program or facility that (a) is established under applicable law (whether in existence as of the Trade Date for such Transaction or subsequently enacted, adopted or amended), including without limitation the CARES Act and the Federal Reserve Act, as amended, and (b) requires under applicable law (or any regulation, guidance, interpretation or other pronouncement thereunder), as a condition of such loan, loan guarantee, direct loan (as that term is defined in the CARES Act), investment, financial assistance or relief, that Counterparty agree, attest, certify or warrant that it has not, as of the date specified in such condition, repurchased, or will not repurchase, any equity security of Counterparty, and that it has not, as of the date specified in such condition, made a capital distribution or will not make a capital distribution. Counterparty further represents and warrants that the Prepayment Amount for any Transaction is not being paid, in whole or in part, directly or indirectly, with funds received under or pursuant to any program or facility, including the U.S. Small Business Administration’s “Paycheck Protection Program”, that (a) is established under applicable law (whether in existence as of the Trade Date for such Transaction or subsequently enacted, adopted or amended), including without limitation the CARES Act and the Federal Reserve Act, as amended, and (b) requires under such applicable law (or any regulation, guidance, interpretation or other pronouncement of a governmental authority with jurisdiction for such program or facility) that such funds be used for specified or enumerated purposes that do not include the purchase of Shares pursuant to any Transaction (either by specific reference thereto or by general reference to transactions with the attributes thereof in all relevant respects). 

23

 

Please confirm that the foregoing correctly sets forth the terms of our agreement by executing this Master Confirmation and returning it to us.

Very truly yours,

		
	
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

	
By:
	
/s/ Brett Chalmers

	
Authorized Signatory

	
Name:Brett Chalmers

 

Accepted and confirmed
as of the date first set 
forth above:

		
	
CACI INTERNATIONAL INC

	
By:
	
/s/ Thomas A. Mutryn

	
Authorized Signatory

	
Name:Thomas A. Mutryn

Chief Financial Officer

 

 

 

 

 

 

SCHEDULE A

FORM OF SUPPLEMENTAL CONFIRMATION

JPMorgan Chase Bank, National Association

New York Branch

383 Madison Avenue
New York, NY, 10179

 

 

[__________], 20[__]

	
To: 
	
CACI International Inc
1100 North Glebe Road
Arlington, VA 22201

 

Re: Supplemental Confirmation—Uncollared Accelerated Share Repurchase

The purpose of this Supplemental Confirmation is to confirm the terms and conditions of the Transaction entered into between JPMorgan Chase Bank, National Association (“JPMorgan”) and CACI International Inc, a Delaware corporation (“Counterparty”) on the Trade Date specified below.  This Supplemental Confirmation is a binding contract between JPMorgan and Counterparty as of the relevant Trade Date for the Transaction referenced below.

1.This Supplemental Confirmation supplements, forms part of, and is subject to the Master Confirmation, dated as of March 12, 2021 (the “Master Confirmation”), between JPMorgan and Counterparty, as amended and supplemented from time to time.  All provisions contained in the Master Confirmation govern this Supplemental Confirmation except as expressly modified below.

2.The terms of the Transaction to which this Supplemental Confirmation relates are as follows: 

Trade Date:[__________], 20[__]

Forward Price Adjustment Amount:USD [___] 

	
Calculation Period Start Date:
	
[__________], 20[__]

	
Scheduled Termination Date:
	
[__________], 20[__]

	
First Acceleration Date:
	
[__________], 20[__]

Prepayment Amount:USD [___] 

Prepayment Date:[__________], 20[__]

	
Initial Shares:
	
[___] Shares; provided that if, in connection with the Transaction, JPMorgan is unable, after using its good faith, commercially reasonable efforts, to borrow or otherwise acquire a number of Shares equal to the Initial Shares for delivery to Counterparty on the Initial Share Delivery Date in a commercially reasonable manner, the Initial Shares delivered on the Initial Share Delivery Date shall be reduced to such number of Shares that JPMorgan is able to so borrow or otherwise acquire in a commercially reasonable manner, and thereafter JPMorgan shall continue to use commercially reasonable efforts to borrow or otherwise acquire, at a stock borrow cost no greater than the Initial Stock Loan Rate, a number of Shares 

A-1

 

		
equal to the shortfall in the Initial Share Delivery and to deliver such additional Shares as soon as reasonably practicable but only to the extent such delivery of additional Shares would not cause a Loss of Stock Borrow or an Increased Cost of Stock Borrow to occur (it being understood, for the avoidance of doubt, that in using such commercially reasonable efforts, JPMorgan shall act in good faith and in accordance with its then current policies, practices and procedures (including without limitation any policies, practices or procedures relating to counterparty risk, market risk, reputational risk, credit, documentation, legal regulatory capital, compliance and collateral), and shall not be required to enter into any securities lending transaction or transact with any securities lender if such transaction would not be in accordance with such policies, practices and procedures).  For the avoidance of doubt, the aggregate of all shares delivered to Counterparty in respect of the Transaction pursuant to this paragraph shall be the “Initial Shares” for purposes of “Number of Shares to be Delivered” in the Master Confirmation.

Initial Share Delivery Date:[__________], 20[__]1

	
Ordinary Dividend Amount:
	
For any Dividend before the Termination Date, USD [___] per Share
For any Dividend after the Termination Date, USD 0.00 per Share

Scheduled Ex-Dividend Dates:[__________]

	
Maximum Stock Loan Rate:
	
[__] basis points per annum

	
Initial Stock Loan Rate:
	
[__] basis points per annum

Maximum Number of Shares:[___]2 Shares

Floor Price:USD 0.01 per Share 

 

Termination Price:USD [___] per Share3 

	
Additional Relevant Days:
	
The [___] Exchange Business Days immediately following the Calculation Period.

	
Reserved Shares:
	
The Reserved Shares shall be equal to [___] Shares.

3.Counterparty represents and warrants to JPMorgan that neither it nor any “affiliated purchaser” (as defined in Rule 10b-18 under the Exchange Act) has made any purchases of blocks pursuant to the proviso in Rule 10b-18(b)(4) under the Exchange Act during either (i) the four full calendar weeks immediately preceding the Trade Date or (ii) 

	
	 

	
1
	
 To reflect ordinary T+2 settlement. 

	
2
	
 To be approximately 50% of the total number of Shares outstanding on the Trade Date.

	
3
	
 To be 50% of the closing stock price on the Trade Date. 

A-2

 

during the calendar week in which the Trade Date occurs, except as set forth in any notice delivered pursuant to Section 6(b)(xv) of the Master Confirmation.

4.This Supplemental Confirmation may be executed in any number of counterparts, all of which shall constitute one and the same instrument, and any party hereto may execute this Supplemental Confirmation by signing and delivering one or more counterparts.

 

A-3

 

Please confirm that the foregoing correctly sets forth the terms of our agreement by executing this Supplemental Confirmation and returning it to us.

Very truly yours,

		
	
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

	
By:
	
 

	
Authorized Signatory

	
Name:

 

Accepted and confirmed
as of the Trade Date:

		
	
CACI INTERNATIONAL INC

	
By:
	
 

	
Authorized Signatory

	
Name:

 

 

 

 

A-4

 

 

SCHEDULE B

FORM OF CERTIFICATE OF RULE 10B-18 PURCHASES

 

[Letterhead of Counterparty]

JPMorgan Chase Bank, National Association

New York Branch

383 Madison Avenue
New York, NY, 10179

 

Re: Uncollared Accelerated Share Repurchase

 

Ladies and Gentlemen:

In connection with our entry into the Master Confirmation, dated as of March 12, 2021, between JPMorgan Chase Bank, National Association and CACI International Inc, a Delaware corporation, as amended and supplemented from time to time (the “Master Confirmation”) and the Supplemental Confirmation thereto, dated as of [__________], 20[__], we hereby represent that set forth below is the total number of shares of our common stock purchased by or for us or any of our affiliated purchasers in Rule 10b-18 purchases of blocks (all as defined in Rule 10b-18 under the Securities Exchange Act of 1934) pursuant to the once-a-week block exception set forth in Rule 10b-18(b)(4) during the four full calendar weeks immediately preceding the first day of the [Calculation Period][Settlement Valuation Period][Seller Termination Purchase Period] (as defined in the Master Confirmation) and the week during which the first day of such [Calculation Period][Settlement Valuation Period][Seller Termination Purchase Period] occurs.

Number of Shares:   __________________

We understand that you will use this information in calculating trading volume for purposes of Rule 10b-18.

Very truly yours,

		
	
CACI INTERNATIONAL INC

	
By:
	
 

	
Authorized Signatory

	
Name:

 

B-1

 

 

ANNEX A

COUNTERPARTY SETTLEMENT PROVISIONS

	
1.
	
The following Counterparty Settlement Provisions shall apply to any Transaction to the extent indicated under the Master Confirmation: 

	
Settlement Currency:
	
USD 

	
Settlement Method Election:
	
Applicable; provided that (i) Section 7.1 of the Equity Definitions is hereby amended by deleting the word “Physical” in the sixth line thereof and replacing it with the words “Net Share” and (ii) the Electing Party may make a settlement method election only if the Electing Party represents and warrants to JPMorgan in writing on the date it notifies JPMorgan of its election that, as of such date, the Electing Party is not aware of any material non-public information regarding Counterparty or the Shares and is electing the settlement method in good faith and not as part of a plan or scheme to evade compliance with the federal securities laws.

	
Electing Party:
	
Counterparty 

	
Settlement Method Election Date:
	
The earlier of (i) the Scheduled Termination Date and (ii) the second Exchange Business Day immediately following the Accelerated Termination Date (in which case the election under Section 7.1 of the Equity Definitions shall be made no later than 10 minutes prior to the open of trading on the Exchange on such second Exchange Business Day), as the case may be.

	
Default Settlement Method:
	
Cash Settlement

	
Forward Cash Settlement Amount:
	
An amount equal to (a) the Number of Shares to be Delivered, multiplied by (b) the Settlement Price.

	
Settlement Price:
	
An amount equal to the average of the VWAP Prices for the Exchange Business Days in the Settlement Valuation Period, subject to Valuation Disruption as specified in the Master Confirmation (in each case, plus interest on such amount during the Settlement Valuation Period at the rate of interest for Counterparty’s long term, unsecured and unsubordinated indebtedness, as determined by the Calculation Agent in a commercially reasonable manner).

	
Settlement Valuation Period:
	
A number of Scheduled Trading Days selected by JPMorgan in its reasonable discretion as necessary in order to unwind its commercially reasonable hedge position in a commercially reasonable manner, beginning on the Scheduled Trading Day immediately following the earlier of (i) the Scheduled Termination Date or (ii) the Exchange Business Day immediately following the Termination Date. 

	
Cash Settlement:
	
If Cash Settlement is applicable, then Buyer shall pay to JPMorgan the absolute value of the Forward Cash Settlement Amount on the Cash Settlement Payment Date.

	
Cash Settlement Payment Date:
	
The Exchange Business Day immediately following the last day of the Settlement Valuation Period.

 

Annex A-1

 

	
Net Share Settlement Procedures:
	
If Net Share Settlement is applicable, Net Share Settlement shall be made in accordance with paragraphs 2 through 7 below.

	
2.
	
Net Share Settlement shall be made by delivery on the Cash Settlement Payment Date of a number of Shares satisfying the conditions set forth in paragraph 3 below (the “Registered Settlement Shares”), or a number of Shares not satisfying such conditions (the “Unregistered Settlement Shares”), in either case with a value equal to  the absolute value of the Forward Cash Settlement Amount (which value shall, in the case of Unregistered Settlement Shares, take into account a commercially reasonable illiquidity discount), in each case as determined by the Calculation Agent.  Counterparty has the right to elect “Net Share Settlement” or “Cash Settlement” in its sole discretion; provided that, solely for the avoidance of doubt, if Counterparty fails to satisfy the conditions for delivery of either Registered Settlement Shares or Unregistered Settlement Shares hereunder in sections 3 or 4, respectively, Counterparty shall be deemed to have elected Cash Settlement in accordance with paragraph 1 above notwithstanding Counterparty’s election of Net Share Settlement.

	
3.
	
Counterparty may only deliver Registered Settlement Shares pursuant to paragraph 2 above if: 

	
(a)
	
a registration statement covering public resale of the Registered Settlement Shares by JPMorgan (the “Registration Statement”) shall have been filed with the Securities and Exchange Commission under the Securities Act and been declared or otherwise become effective on or prior to the date of delivery, and no stop order shall be in effect with respect to the Registration Statement; a printed prospectus relating to the Registered Settlement Shares (including, without limitation, any prospectus supplement thereto, the “Prospectus”) shall have been delivered to JPMorgan, in such quantities as JPMorgan shall reasonably have requested, on or prior to the date of delivery; 

	
(b)
	
the form and content of the Registration Statement and the Prospectus (including, without limitation, any sections describing the plan of distribution) shall be reasonably satisfactory to JPMorgan; 

	
(c)
	
as of or prior to the date of delivery, JPMorgan and its agents shall have been afforded a reasonable opportunity to conduct a due diligence investigation with respect to Counterparty customary in scope for underwritten offerings of equity securities  of similar size by companies similar to Counterparty (provided that prior to receiving or being granted access to any such information, JPMorgan and any such agent may be required by Counterparty to enter into a customary nondisclosure agreement with Counterparty in respect of any such due diligence investigation) and the results of such investigation are satisfactory to JPMorgan, in its discretion; and 

	
(d)
	
as of the date of delivery, an agreement (the “Underwriting Agreement”) shall have been entered into with JPMorgan in connection with the public resale of the Registered Settlement Shares by JPMorgan substantially similar to underwriting agreements customary for underwritten offerings of equity securities of similar size by similar companies, in form and substance reasonably satisfactory to JPMorgan, which Underwriting Agreement shall include, without limitation, provisions substantially similar to those contained in such underwriting agreements relating, without limitation, to the mutual indemnification of, and contribution in connection with the liability of, the parties and the provision of customary opinions, accountants’ comfort letters and lawyers’ negative assurance letters.

	
4.
	
If Counterparty delivers Unregistered Settlement Shares pursuant to paragraph 2 above: 

	
(a)
	
all Unregistered Settlement Shares shall be delivered to JPMorgan (or any Affiliate of JPMorgan designated by JPMorgan) pursuant to the exemption from the registration requirements of the Securities Act provided by Section 4(a)(2) thereof; 

	
(b)
	
as of or prior to the date of delivery, JPMorgan and any potential purchaser of any such shares from JPMorgan (or any Affiliate of JPMorgan designated by JPMorgan) identified by JPMorgan shall be afforded a commercially reasonable opportunity to conduct a due diligence investigation with respect to Counterparty customary in scope for private placements of equity securities of similar size by similar companies (including, without limitation, the right to have made available to them for inspection all financial and other records, pertinent corporate documents and other information reasonably requested by them);  provided that prior to receiving or being granted access to any such information, any such potential purchaser may be required by Counterparty to enter into a customary nondisclosure agreement with Counterparty in respect of any such due diligence investigation;

 

Annex A-2

 

	
(c)
	
as of the date of delivery, Counterparty shall enter into an agreement (a “Private Placement Agreement”) with JPMorgan (or any Affiliate of JPMorgan designated by JPMorgan) in connection with the private placement of such shares by Counterparty to JPMorgan (or any such Affiliate) and the private resale of such shares by JPMorgan (or any such Affiliate), substantially similar to private placement purchase agreements customary for private placements of equity securities of similar size by similar companies, in form and substance commercially reasonably satisfactory to JPMorgan, which Private Placement Agreement shall include, without limitation, provisions substantially similar to those contained in such private placement purchase agreements relating, without limitation, to the mutual indemnification of, and contribution in connection with the liability of, the parties, shall provide for Counterparty using best efforts to deliver documentation appropriate for a private placement of similar size by companies similar to Counterparty, and shall provide for the payment by Counterparty of all commercially reasonable fees and actual, documented out-of-pocket expenses of JPMorgan (and any such Affiliate) in connection with such resale, including, reasonable fees and actual, documented out-of-pocket expenses of counsel for JPMorgan, and shall contain representations, warranties, covenants and agreements of the parties reasonably necessary or advisable to establish and maintain the availability of an exemption from the registration requirements of the Securities Act for such resales; and 

	
(d)
	
in connection with the private placement of such shares by Counterparty to JPMorgan (or any such Affiliate) and the private resale of such shares by JPMorgan (or any such Affiliate), Counterparty shall, if so requested by JPMorgan, prepare, in cooperation with JPMorgan, a private placement memorandum in form and substance commercially reasonably satisfactory to JPMorgan and customary for private placements of equity securities of similar size by companies similar to Counterparty.

	
5.
	
JPMorgan, itself or through an Affiliate (the “Selling Agent”) or any underwriter(s), will sell all, or such lesser portion as may be required hereunder, of the Registered Settlement Shares or Unregistered Settlement Shares and any Makewhole Shares (as defined below) (together, the “Settlement Shares”) delivered by Counterparty to JPMorgan pursuant to paragraph 6 below commencing on the Cash Settlement Payment Date and continuing until the date on which the aggregate Net Proceeds (as such term is defined below) of such sales, as determined by JPMorgan in a commercially reasonable manner, is equal to the absolute value of the Forward Cash Settlement Amount (such date, the “Final Resale Date”).  If the proceeds of any such sale(s) made by JPMorgan, the Selling Agent or any underwriter(s), net of any commercially reasonable fees and commissions (including, without limitation, underwriting or placement fees) customary for similar transactions under the circumstances at the time of the offering, together with commercially reasonable carrying charges and expenses incurred in connection with the offer and sale of the Shares (including, without limitation, the covering of any over-allotment or short position (syndicate or otherwise)) (the “Net Proceeds”) exceed the absolute value of the Forward Cash Settlement Amount, JPMorgan will refund, in USD, such excess to Counterparty on the date that is three (3) Currency Business Days following the Final Resale Date, and, if any portion of the Settlement Shares remains unsold, JPMorgan shall return to Counterparty on that date such unsold Shares. 

	
6.
	
If the Calculation Agent determines in good faith and in a commercially reasonable manner that the Net Proceeds received from the sale of the Registered Settlement Shares or Unregistered Settlement Shares or any Makewhole Shares, if any, pursuant to this paragraph 6 are less than the absolute value of the Forward Cash Settlement Amount (the amount in USD by which the Net Proceeds are less than the absolute value of the Forward Cash Settlement Amount being the “Shortfall” and the date on which such determination is made, the “Deficiency Determination Date”), Counterparty shall on the Exchange Business Day next succeeding the Deficiency Determination Date (the “Makewhole Notice Date”) deliver to JPMorgan, through the Selling Agent, a notice of Counterparty’s election that Counterparty shall either (i) pay an amount in cash equal to the Shortfall on the day that is one Currency Business Day after the Makewhole Notice Date, or (ii) deliver additional Shares.  If Counterparty elects to deliver to JPMorgan additional Shares, then Counterparty shall deliver additional Shares in compliance with the terms and conditions of paragraph 3 or paragraph 4 above, as the case may be (the “Makewhole Shares”), on the first Clearance System Business Day which is also an Exchange Business Day following the Makewhole Notice Date in such number as the Calculation Agent reasonably believes would have a market value on that Exchange Business Day equal to the Shortfall.  Such Makewhole Shares shall be sold by JPMorgan in accordance with the provisions above; provided that if the sum of the Net Proceeds from the sale of the originally delivered Shares and the Net Proceeds from the sale of any Makewhole Shares is less than the absolute value of the Forward Cash Settlement Amount then Counterparty shall, at its election, either make such cash payment or deliver to JPMorgan further Makewhole Shares until such Shortfall has been reduced to zero.

 

Annex A-3

 

	
7.
	
Notwithstanding the foregoing, in no event shall the aggregate number of Settlement Shares for any Transaction be greater than the Reserved Shares for such Transaction (for each Transaction, the “Capped Number” for such Transaction).  Counterparty represents and warrants (which shall be deemed to be repeated on each day that a Transaction is outstanding) that the sum of the Capped Number for all Transactions under this Master Confirmation which are then outstanding is equal to or less than the number of Shares determined according to the following formula: 

A – B

	
 
	
Where
	
A  = the number of authorized but unissued shares of Counterparty that are not reserved for future issuance on the date of the determination of such Capped Number; and

	
 
	

	
B  = the maximum number of Shares required to be delivered to third parties if Counterparty elected Net Share Settlement of all transactions in the Shares (other than such Transaction) with all third parties that are then currently outstanding and unexercised.

“Reserved Shares” means, for each Transaction, as set forth in the related Supplemental Confirmation.  If at any time, as a result of this paragraph 7, Counterparty fails to deliver to JPMorgan any Settlement Shares, Counterparty shall, to the extent that Counterparty has at such time authorized but unissued Shares not reserved for other purposes, promptly notify JPMorgan thereof and deliver to JPMorgan a number of Shares not previously delivered as a result of this paragraph 7.    Counterparty agrees to  use its best efforts to cause the number of authorized but unissued Shares to be increased, if necessary, to an amount sufficient to permit Counterparty to fulfill its obligation to deliver any Settlement Shares.

 

Annex A-4

 

 

ANNEX B

COMMUNICATIONS PROCEDURES

 

March 12, 2021

 

I.Introduction

CACI International Inc (“Counterparty”) and JPMorgan Chase Bank, National Association (“JPMorgan”) have adopted these communications procedures (the “Communications Procedures”) in connection with entering into the Master Confirmation (the “Master Confirmation”), dated as of March 12, 2021, between JPMorgan and Counterparty relating to Uncollared Accelerated Share Repurchase transactions.  These Communications Procedures supplement, form part of, and are subject to the Master Confirmation.

II.Communications Rules

For each Transaction, from the Trade Date for such Transaction until the date all payments or deliveries of Shares have been made with respect to such Transaction, Counterparty and its Employees and Designees shall not engage in any Program-Related Communication with, or disclose any Material Non-Public Information to, any EDG Trading Personnel.  Except as set forth in the preceding sentence, the Master Confirmation shall not limit Counterparty and its Employees and Designees in their communication with Affiliates and Employees of JPMorgan, including, without limitation, Employees who are EDG Permitted Contacts.

III.Termination

If, in the sole judgment of any EDG Trading Personnel or any Affiliate or Employee of JPMorgan participating in any Communication with Counterparty or any Employee or Designee of Counterparty, such Communication would not be permitted by these Communications Procedures, such EDG Trading Personnel or Affiliate or Employee of JPMorgan shall immediately terminate such Communication.  In such case, or if such EDG Trading Personnel or Affiliate or Employee of JPMorgan determines following completion of any Communication with Counterparty or any Employee or Designee of Counterparty that such Communication was not permitted by these Communications Procedures, such EDG Trading Personnel or such Affiliate or Employee of JPMorgan shall promptly consult with his or her supervisors and with counsel for JPMorgan regarding such Communication.  If, in the reasonable judgment of JPMorgan’s counsel following such consultation, there is more than an insignificant risk that such Communication could materially jeopardize the availability of the affirmative defenses provided in Rule 10b5-1 under the Exchange Act with respect to any ongoing or contemplated activities of JPMorgan or its Affiliates in respect of any Transaction pursuant to the Master Confirmation, it shall be an Additional Termination Event pursuant to Section 19(a) of the Master Confirmation, with Counterparty as the sole Affected Party and all Transactions under the Master Confirmation as Affected Transactions.

IV.Definitions

Capitalized terms used and not otherwise defined herein shall have the meanings ascribed to them in the Master Confirmation.  As used herein, the following words and phrases shall have the following meanings:

“Communication” means any contact or communication (whether written, electronic, oral or otherwise) between Counterparty or any of its Employees or Designees, on the one hand, and JPMorgan or any of its Affiliates or Employees, on the other hand.

“Designee” means a person designated, in writing or orally, by Counterparty to communicate with JPMorgan on behalf of Counterparty.

“EDG Permitted Contact” means any of Mr. David Aidelson, Mr. Elliot Chalom, Ms. Yana Chernobilsky, Mr. Ganaraj S. Hegde, Mr. Noah L. Wynkoop and Mr. Brett Chalmers or any of their designees; provided that JPMorgan may amend the list of EDG Permitted Contacts by delivering a revised list of EDG Permitted Contacts to Counterparty.

 

Annex B-1

 

“EDG Trading Personnel” means Mr. Michael Captain, Ms. Jennifer Hilibrand, Mr. Spyros Kallipolitis, Mr. Michael Tatro and any other Employee of the public side of the Equity Derivatives Group of JPMorgan Chase & Co.; provided that JPMorgan may amend the list of EDG Trading Personnel by delivering a revised list of EDG Trading Personnel to Counterparty; and provided further that, for the avoidance of doubt, the persons listed as EDG Permitted Contacts are not EDG Trading Personnel.

“Employee” means, with respect to any entity, any owner, principal, officer, director, employee or other agent or representative of such entity, and any Affiliate of any of such owner, principal, officer, director, employee, agent or representative.

“Material Non-Public Information” means information relating to Counterparty or the Shares that (a) has not been widely disseminated by wire service, in one or more newspapers of general circulation, by communication from Counterparty to its shareholders or in a press release, or contained in a public filing made by Counterparty with the Securities and Exchange Commission and (b) a reasonable investor might consider to be of importance in making an investment decision to buy, sell or hold Shares.  For the avoidance of doubt and solely by way of illustration, information should be presumed “material” if it relates to such matters as dividend increases or decreases, earnings estimates, changes in previously released earnings estimates, significant expansion or curtailment of operations, a significant increase or decline of orders, significant merger or acquisition proposals or agreements, significant new products or discoveries, extraordinary borrowing, major litigation, liquidity problems, extraordinary management developments, purchase or sale of substantial assets and similar matters.

“Program-Related Communication” means any Communication the subject matter of which relates to the Master Confirmation or any Transaction under the Master Confirmation or any activities of JPMorgan (or any of its Affiliates) in respect of the Master Confirmation or any Transaction under the Master Confirmation.

 

Annex B-2

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