Document:

Exhibit 10.27

 

EXECUTION VERSION

 

 

 

CREDIT, GUARANTY AND SECURITY AGREEMENT

 

dated as of April 22, 2021

 

by and among

 

TRANSFIX, INC.

 

and its other Affiliates from time to time party
hereto,

 

as a Borrower, and collectively as Borrowers,

 

and

 

its other Affiliates from time to time party
hereto,

 

as a Guarantor, and collectively as Guarantors

 

and

 

MIDCAP FINANCIAL TRUST,

 

as Agent and as a Lender,

 

and

 

THE ADDITIONAL LENDERS

 

from time to time party hereto

 

as Lenders

 

 

 

 

     

     

    

 

table
of contents

 

Page

 

	ARTICLE 1 - - DEFINITIONS	1
	 	 
	Section 1.1	Certain Defined Terms	1
	Section 1.2	Accounting Terms and Determinations	36
	Section 1.3	Other Definitional and Interpretive Provisions	36
	Section 1.4	Time is of the Essence	36
	 	 
	ARTICLE 2 - - LOANS AND LETTERS OF CREDIT	37
	 	 
	Section 2.1	Loans	37
	Section 2.2	Interest, Interest Calculations and Certain Fees	39
	Section 2.3 	Notes	40
	Section 2.4 	[Reserved]	40
	Section 2.5 	Letters of Credit and Letter of Credit Fees	41
	Section 2.6	General Provisions Regarding Payment; Loan Account	43
	Section 2.7 	Maximum Interest	44
	Section 2.8	Taxes; Capital Adequacy	44
	Section 2.9 	Appointment of Borrower Representative	47
	Section 2.10	Joint and Several Liability; Rights of Contribution; Subordination and Subrogation	48
	Section 2.11 	Collections and Lockbox Account	49
	Section 2.12 	Termination; Restriction on Termination	50
	 	 
	ARTICLE 3 - - REPRESENTATIONS AND WARRANTIES	51
	 	 
	Section 3.1	Existence and Power	51
	Section 3.2	Organization and Governmental Authorization; No Contravention	51
	Section 3.3	Binding Effect	51
	Section 3.4	Capitalization	51
	Section 3.5	Financial Information	52
	Section 3.6	Litigation	52
	Section 3.7	Ownership of Property	52
	Section 3.8	No Default	52
	Section 3.9	Labor Matters	52
	Section 3.10	Investment Company Act	52
	Section 3.11	Margin Regulations	52
	Section 3.12	Compliance With Laws; Anti-Terrorism Laws	53
	Section 3.13	Taxes	53
	Section 3.14	Compliance with ERISA	53
	Section 3.15	Brokers	54
	Section 3.16	Consummation of Operative Documents	54
	Section 3.17	Material Contracts	54
	Section 3.18	Compliance with Environmental Requirements; No Hazardous Materials	55
	Section 3.19	Intellectual Property	55
	Section 3.20	Solvency	56
	Section 3.21	Full Disclosure	56
	Section 3.22	Interest Rate	56
	Section 3.23	Subsidiaries	56
	Section 3.24	Accounts	56
	Section 3.25	Senior Indebtedness Status	56

  

     

     

    

 

	ARTICLE 4 - - AFFIRMATIVE COVENANTS	57
	 	 	 
	Section 4.1	Financial Statements and Other Reports	57
	Section 4.2	Payment and Performance of Obligations	58
	Section 4.3	Maintenance of Existence	59
	Section 4.4	Maintenance of Property; Insurance	60
	Section 4.5	Compliance with Laws and Material Contracts	60
	Section 4.6	Inspection of Property, Books and Records	60
	Section 4.7	Use of Proceeds	61
	Section 4.8	Estoppel Certificates	61
	Section 4.9	Notices of Litigation and Defaults	61
	Section 4.10	Hazardous Materials; Remediation	63
	Section 4.11	Further Assurances	63
	Section 4.12	Reserved	63
	Section 4.13	Power of Attorney	63
	Section 4.14	Borrowing Base Collateral Administration	63
	Section 4.15	Maintenance of Management	63
	Section 4.16	Schedule Updates	64
	Section 4.17	Broker/Carrier Agreements	64
	 	 	 

	ARTICLE 5 - - NEGATIVE COVENANTS	64
	 	 	 
	Section 5.1	Debt; Contingent Obligations	64
	Section 5.2	Liens	64
	Section 5.3	Restricted Distributions	64
	Section 5.4	Restrictive Agreements	64
	Section 5.5	Payments and Modifications of Subordinated Debt	64
	Section 5.6	Consolidations, Mergers and Sales of Assets; Change in Control	65
	Section 5.7	Purchase of Assets, Investments	65
	Section 5.8	Transactions with Affiliates	65
	Section 5.9	Modification of Organizational Documents	66
	Section 5.10	Modification of Certain Agreements	66
	Section 5.11	Conduct of Business	66
	Section 5.12	Lease Payments	66
	Section 5.13	Limitation on Sale and Leaseback Transactions	66
	Section 5.14	Deposit Accounts and Securities Accounts; Payroll and Benefits Accounts	67
	Section 5.15	Compliance with Anti-Terrorism Laws	67
	Section 5.16	Change in Accounting; Fiscal Year	67
	Section 5.17	Agreements Regarding Receivables	68
	Section 5.18	Holdco Covenant	68
	Section 5.19	Broker/Carrier Agreements	68
	 	 	 

     

     

    

 

	 	 	 
	ARTICLE 6 - - [RESERVED]	69
	 	 	 
	ARTICLE 7 - - CONDITIONS	69
	 	 	 
	Section 7.1	Conditions to Closing	69
	Section 7.2	Conditions to Each Loan, Support Agreement and Lender Letter of Credit	69
	Section 7.3	Searches	70
	Section 7.4	Post-Closing Requirements	70
	 	 	 
	ARTICLE 8 - - [RESERVED]	71
	 	 	 
	ARTICLE 9 - - SECURITY AGREEMENT	71
	 	 	 
	Section 9.1	Generally	71
	Section 9.2	Representations and Warranties and Covenants Relating to Collateral	71
	 	 	 
	ARTICLE 10 - EVENTS OF DEFAULT	75
	 	 	 
	Section 10.1	Events of Default	75
	Section 10.2	Acceleration and Suspension or Termination of Revolving Loan Commitment	77
	Section 10.3	UCC Remedies	77
	Section 10.4	Cash Collateral	79
	Section 10.5	Default Rate of Interest	79
	Section 10.6	Setoff Rights	79
	Section 10.7	Application of Proceeds	79
	Section 10.8	Waivers	80
	Section 10.9	Injunctive Relief	82
	Section 10.10	Marshalling; Payments Set Aside	82
	 	 	 

     

     

    

 

	 	 	 
	ARTICLE 11 - - AGENT	82
	 	 	 
	Section 11.1	Appointment and Authorization	82
	Section 11.2	Agent and Affiliates	82
	Section 11.3	Action by Agent	82
	Section 11.4	Consultation with Experts	83
	Section 11.5	Liability of Agent	83
	Section 11.6	Indemnification	83
	Section 11.7	Right to Request and Act on Instructions	84
	Section 11.8	Credit Decision	84
	Section 11.9	Collateral Matters	84
	Section 11.10	Agency for Perfection	84
	Section 11.11	Notice of Default	84
	Section 11.12	Assignment by Agent; Resignation of Agent; Successor Agent	85
	Section 11.13	Payment and Sharing of Payment	85
	Section 11.14	Right to Perform, Preserve and Protect	88
	Section 11.15	Additional Titled Agents	88
	Section 11.16	Amendments and Waivers	88
	Section 11.17	Assignments and Participations	89
	Section 11.18	Funding and Settlement Provisions Applicable When Non-Funding Lenders Exist	92
	Section 11.19	Buy-Out Upon Refinancing	93
	 	 	 
	ARTICLE 12 - - GUARANTY	93
	 	 	 
	Section 12.1	Guaranty	93
	Section 12.2	Payment of Amounts Owed	93
	Section 12.3	Certain Waivers by Guarantor	94
	Section 12.4	Guarantor’s Obligations Not Affected by Modifications of Financing Documents	96
	Section 12.5	Reinstatement; Deficiency	96
	Section 12.6	Subordination of Borrowers’ Obligations to Guarantors; Claims in Bankruptcy	96
	Section 12.7	Maximum Liability	97
	Section 12.8	Guarantor’s Investigation	97
	Section 12.9	Termination	97
	Section 12.10	Representative	97
	 	 	 

     

     

    

 

	ARTICLE 13
    - - MISCELLANEOUS	97
	 	 	 
	Section 13.1	Survival	97
	Section 13.2	No Waivers	98
	Section 13.3	Notices	98
	Section 13.4	Severability	98
	Section 13.5	Headings	99
	Section 13.6	Confidentiality	99
	Section 13.7	Waiver of Consequential and Other Damages	99
	Section 13.8	GOVERNING LAW; SUBMISSION TO JURISDICTION	100
	Section 13.9	WAIVER OF JURY TRIAL	100
	Section 13.10	Publication; Advertisement	100
	Section 13.11	Counterparts; Integration	101
	Section 13.12	No Strict Construction	101
	Section 13.13	Lender Approvals	101
	Section 13.14	Expenses; Indemnity	102
	Section 13.15	[Reserved]	103
	Section 13.16	Reinstatement	103
	Section 13.17	Successors and Assigns	103
	Section 13.18	USA PATRIOT Act Notification	103
	Section 13.19	Acknowledgement and Consent to Bail-In of EEA Financial
    Institutions	103
	 	 	 

 

     

     

    

 

 

CREDIT,
GUARANTY AND SECURITY AGREEMENT

 

THIS
CREDIT, GUARANTY AND SECURITY AGREEMENT (as the same may be amended, supplemented, restated or otherwise modified from time
to time, the “Agreement”) is dated as of April 22, 2021, by and among TRANSFIX, INC., a Delaware
corporation (in its individual capacity, “TFX” and together with each entity that becomes a borrower hereunder, each
individually as a “Borrower”, and collectively as “Borrowers”), each entity that becomes a guarantor
hereunder (each individually as a “Guarantor” and collectively as “Guarantors”), the other Credit
Parties (as defined below) from time to time party hereto, MIDCAP FINANCIAL TRUST, a Delaware statutory trust, individually as
a Lender, and as Agent, and the financial institutions or other entities from time to time parties hereto, each as a Lender.

 

RECITALS

 

Borrowers have requested that
Lenders make available to Borrowers the financing facilities as described herein. Lenders are willing to extend such credit to Borrowers
under the terms and conditions herein set forth.

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, the receipt and
sufficiency of which are hereby acknowledged, Borrowers, Lenders and Agent agree as follows:

 

ARTICLE 1 - - DEFINITIONS

 

Section 1.1        Certain
Defined Terms. The following terms have the following meanings:

 

“Acceleration Event”
means the occurrence of an Event of Default (a) in respect of which Agent has declared all or any portion of the Obligations to be
immediately due and payable pursuant to Section 10.2, (b) pursuant to Section 10.1(a), and in respect of which Agent has
suspended or terminated the Revolving Loan Commitment pursuant to Section 10.2, and/or (c) pursuant to either Section 10.1(e) and/or
Section 10.1(f).

 

“Account Debtor”
means “account debtor”, as defined in Article 9 of the UCC, and any other obligor in respect of an Account.

 

“Accounts”
means, collectively, (a) any right to payment of a monetary obligation, whether or not earned by performance, (b) without duplication,
any “account” (as defined in the UCC), any accounts receivable (whether in the form of payments for services rendered or goods
sold, rents, license fees or otherwise), any “payment intangibles” (as defined in the UCC) and all other rights to payment
and/or reimbursement of every kind and description, whether or not earned by performance, (c) all accounts, “general intangibles”
(as defined in the UCC), Intellectual Property, rights, remedies, Guarantees, “supporting obligations” (as defined in
the UCC), “letter-of-credit rights” (as defined in the UCC) and security interests in respect of the foregoing, all rights
of enforcement and collection, all books and records evidencing or related to the foregoing, and all rights under the Financing Documents
in respect of the foregoing, (d) all information and data compiled or derived by any Borrower or to which any Borrower is entitled
in respect of or related to the foregoing, and (e) all proceeds of any of the foregoing.

 

“Additional Tranche”
means an additional amount of Revolving Loan Commitment equal to $25,000,000 (it being acknowledged that multiple Additional Tranches
are permitted pursuant to Section 2.1(c) in minimum amounts of $5,000,000 each for a total of up to $25,000,000).

 

    1 

     

    

 

Affected Lender”
has the meaning set forth in Section 11.17(c).

 

“Affiliate”
means, with respect to any Person, (a) any Person that directly or indirectly controls such Person, (b) any Person which is
controlled by or is under common control with such controlling Person, and (c) each of such Person’s (other than, with respect
to any Lender, any Lender’s) officers or directors (or Persons functioning in substantially similar roles) and the spouses, parents,
descendants and siblings of such officers, directors or other Persons. As used in this definition, the term “control” of a
Person means the possession, directly or indirectly, of the power to vote twenty percent (20%) or more of any class of voting securities
of such Person or to direct or cause the direction of the management or policies of a Person, whether through the ownership of voting
securities, by contract or otherwise.

 

“Agent”
means MCF, in its capacity as administrative agent for itself and for Lenders hereunder, as such capacity is established in, and subject
to the provisions of, Article 11, and the successors and assigns of MCF in such capacity.

 

“Agreement”
has the meaning set forth in the introductory paragraph hereof.

 

“Anti-Terrorism Laws”
means any Laws relating to terrorism or money laundering, including, without limitation, Executive Order No. 13224 (effective September 24,
2001), the USA PATRIOT Act, the Laws comprising or implementing the Bank Secrecy Act, and the Laws administered by OFAC.

 

“Applicable Margin”
means with respect to Revolving Loans and all other Obligations three and one-half percent (3.50%).

 

“Approved Fund”
means any (a) investment company, fund, trust, securitization vehicle or conduit 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 Business, or (b) any
Person (other than a natural person) that temporarily warehouses loans for Agent or any Lender or any entity described in the preceding
clause (a) and that, with respect to each of the preceding clauses (a) and (b), is administered or managed by (i) a
Lender, (ii) Agent, (iii) an Affiliate of a Lender or Agent, or (iii) a Person (other than a natural person) or an Affiliate
of a Person (other than a natural person) that administers or manages an Agent or Lender.

 

“Asset Disposition”
means any sale, lease, license, transfer, assignment or other consensual disposition (including by merger, allocation of assets (including
allocation of assets to any series of a limited liability company), division, consolidation or amalgamation) by any Credit Party or any
Subsidiary thereof of any asset of such Credit Party or Subsidiary.

 

“Assignment Agreement”
means an assignment agreement in form and substance acceptable to Agent.

 

“Availability
Block Trigger Date” means the date upon which upon which a Borrowing Base Certificate or Compliance Certificate is delivered
(or required to be delivered pursuant to the Financing Documents) evidencing that the Liquidity of the Credit Parties is equal to or less
than the Trigger Amount.

 

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

 

    2 

     

    

 

“Bail-In
Legislation” means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European
Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described
in the EU Bail-In Legislation Schedule.

 

“Bankruptcy Code”
means Title 11 of the United States Code entitled “Bankruptcy”, as the same may be amended, modified or supplemented from
time to time, and any successor statute thereto.

 

“Base LIBOR Rate”
means, for each Interest Period, the rate per annum, determined by Agent in accordance with its customary procedures, and utilizing such
electronic or other quotation sources as it considers appropriate (rounded upwards, if necessary, to the next 1/100%), to be the rate
at which Dollar deposits (for delivery on the first day of such Interest Period) in the amount of $1,000,000 are offered to major banks
in the London interbank market on or about 11:00 a.m. (London, England time) two (2) Business Days prior to the commencement
of such Interest Period, for a term comparable to such Interest Period, which determination shall be conclusive in the absence of manifest
error; provided, however, if (a) the administrator responsible for determining and publishing such rate per annum,
determined by Agent in accordance with its customary procedures, has made a public announcement identifying a date certain on or after
which such rate shall no longer be provided or published, as the case may be; or (b) timely, adequate and reasonable means do not
exist for ascertaining such rate and the circumstances giving rise to the Agent’s inability to ascertain the Base LIBOR Rate are
unlikely to be temporary as determined in Agent’s reasonable discretion, then Agent may, upon prior written notice to Borrower Representative,
choose, in consultation with Borrower, a reasonably comparable index or source together with corresponding adjustments to “Applicable
Margin” or scale factor or spread adjustment or floor to such index that Agent, in its reasonable discretion, has determined is
necessary to preserve the current all-in yield (including interest rate margins, any interest rate floors, original issue discount and
upfront fees, but without regard to future fluctuations of such alternative index, it being acknowledged and agreed that neither Agent
nor any Lender shall have any liability whatsoever from such future fluctuations) to use as the basis for Base LIBOR Rate.

 

“Base Rate”
means the per annum rate of interest announced, from time to time, within Wells Fargo Bank, National Association (“Wells Fargo”)
at its principal office in San Francisco as its “prime rate,” with the understanding that the “prime rate” is
one of Wells Fargo’s base rates (not necessarily the lowest of such rates) and serves as the basis upon which effective rates of
interest are calculated for those loans making reference thereto and is evidenced by the recording thereof after its announcement in such
internal publications as Wells Fargo may designate; provided, however, that Agent may, upon prior written notice to Borrower, choose
a reasonably comparable index or source to use as the basis for the Base Rate.

 

“Blocked Person”
means any Person: (a) listed in the annex to, or is otherwise subject to the provisions of, Executive Order No. 13224, (b) owned
or controlled by, or acting for or on behalf of, any Person that is listed in the annex to, or is otherwise subject to the provisions
of, Executive Order No. 13224, (c) with which any Lender is prohibited from dealing or otherwise engaging in any transaction
by any Anti-Terrorism Law, (d) that commits, threatens or conspires to commit or supports “terrorism” as defined in Executive
Order No. 13224, or (e) that is named a “specially designated national” or “blocked person” on the most
current list published by OFAC or other similar list or is named as a “listed person” or “listed entity” on other
lists made under any Anti-Terrorism Law.

 

“Borrower”
and “Borrowers” has the meaning set forth in the introductory paragraph of this Agreement.

 

“Borrower Representative”
means TFX, in its capacity as Borrower Representative pursuant to the provisions of Section 2.9, or any successor Borrower Representative
selected by Borrowers and approved by Agent.

 

    3 

     

    

 

“Borrower Unrestricted
Cash” means unrestricted cash and cash equivalents of the Credit Parties that (a) are held in the name of a Credit Party
in one or more Deposit Accounts or Securities Accounts, other than the Cash Collateral Account, in the United States that are subject
to a Deposit Account Control Agreement or Securities Account Control Agreement, as applicable, in favor of Agent, (b) are not subject
to any Lien (other than the Lien in favor of Agent and Permitted Liens that are junior in priority to the Liens in favor of the Agent
and subject to a Subordination Agreement), and (c) are not funds for the payment of a drawn or committed but unpaid draft, ACH or
EFT transaction or specified for any other purposes, including without limitation cash collateralization of Letters of Credit Liabilities.

 

“Borrowing Base”
means the sum of (without duplication):

 

(a)            the
product of (i) ninety percent (90%) multiplied by (ii) the aggregate net amount at such time of the Eligible Accounts;
plus

 

(b)            the
lesser of (i) the amount of the funds on deposit in the Cash Collateral Account and (ii) $5,000,000;

 

(c)            the
lesser of (i) the product of (A) ninety percent (90%) multiplied by (B) the aggregate net amount at such time of
the Eligible Unbilled Accounts and (ii) $3,500,000;

 

(d)            the
product of (A) eighty-five percent (85%) (or ninety percent (90% in the case of investment grade Accounts) multiplied by (B) the
aggregate net amount at such time of the Eligible Pre-Audit Accounts; minus

 

(e)            the
amount of the Dilution Reserve, the Overdue AP Reserve, and other reserves and/or adjustments (including without limitation, reserves
and/or adjustments in respect of rent) established from time to time by the Agent in its Permitted Discretion as being appropriate (i) to
reflect any impediments to the Agent’s ability to realize upon the Collateral included in the Borrowing Base, (ii) to reflect
claims and liabilities that may need to be satisfied in connection with the realization upon the Collateral included in the Borrowing
Base or (iii) to reflect criteria, events, conditions, contingencies or risks which adversely affect any component of the Borrowing
Base.

 

“Borrowing Base Certificate”
means a certificate, duly executed by a Responsible Officer of Borrower Representative, appropriately completed and substantially in the
form of Exhibit C hereto.

 

“Borrowing Base Collateral”
means accounts and all other Collateral, including the Cash Collateral Account, which is part of, or is of a type which could be included
in, the Borrowing Base.

 

“Broker/Carrier Agreement”
means a “Broker/Motor Carrier Agreement” substantially in the form of Exhibit E hereto, or any other similar agreement
between a Credit Party and a carrier pursuant to which any Credit Party retains services of the carrier to satisfy all or a portion of
its and/or its customer’s transportation needs.

 

“Business Day”
means any day except a Saturday, Sunday or other day on which either the New York Stock Exchange is closed, or on which commercial banks
in Washington, DC and New York City are authorized by law to close, and, in the case of a Business Day which relates to a determination
of the LIBOR Rate, a day on which dealings are carried on in the London interbank eurodollar market.

 

“Cash Collateral
Account” means a segregated Deposit Account or Securities Account of a Borrower, in the United States, the funds in which consist
solely of unrestricted cash and/or cash equivalents of the Borrowers that (a) is subject to a Deposit Account Control Agreement or
Securities Account Control Agreement, as applicable, in favor of Agent, (b) is not subject to any Lien (other than the Lien in favor
of Agent), and (c) are not funds held for the payment of any drawn or committed, but unpaid draft, ACH or EFT transaction or specified
for any other purposes, including without limitation cash collateralization of Letters of Credit Liabilities.

 

    4 

     

    

 

“CERCLA”
means the Comprehensive Environmental Response, Compensation and Liability Act of 1980, 42 U.S.C.A. § 9601 et seq., as the
same may be amended from time to time.

 

“CFC” means
(i) any “controlled foreign corporation” within the meaning of Section 957 of the Code in which any Credit Party
is a “United States shareholder” within the meaning of Section 951(b) of the Code and (ii) any Subsidiary whose
sole assets (other than a de minimis amount) is equity of an entity described in clause (i) of this definition, other than a Protected
CFC.

 

“Change in Control”
means any of the following events:

 

(a) if, on any date of
determination, either (i) the requirements of clause (b) of the definition of “Post Toggle Payment Conditions” have
not been achieved, or (ii) neither Holdings nor any Affiliate thereof that is a Credit Party shall be registered with the SEC in
good standing and its equity shall not be freely traded on a public securities exchange in the United States, then “Change in Control”
means:

 

(i)            New
Enterprise Associates 15, L.P. (“NEA”) and Canvas Venture Fund, L.P. (“Canvas”), collectively, shall
cease to (i) own, on a fully diluted basis, directly or indirectly, at least twenty-five percent (25%) of the equity interests of
TFX (prior to the Permitted Reorganization) and Holdings (on and after the Permitted Reorganization), or (ii) possess the right to
elect (through contract, ownership of voting securities or otherwise) at all times a majority of the board of directors (or similar governing
body) of TFX (prior to the Permitted Reorganization) or Holdings (on and after the Permitted Reorganization) and to direct the management
policies and decisions of TFX or Holdings as the case may be, other than pursuant to a sale of TFX’s (prior to the Permitted Reorganization)
or Holdings’ (on and after the Permitted Reorganization) equity in a Qualified IPO or Permitted SPAC Transaction, so long as Borrower
Representative provides to Agent at least ten (10) Business Days prior to the closing of the transaction a general description of
the material terms of the transaction, all documentation and other information required by Agent, any Lender and/or any regulatory authorities
under applicable “know your customer” and anti-money laundering rules and regulations, including, without limitation,
the USA PATRIOT Act, with respect to the Credit Parties, in each case, to the extent requested by Agent or any Lender;

 

(ii)            TFX
(prior to the Permitted Reorganization) or Holdings (on and after the Permitted Reorganization) ceases to own, directly or indirectly,
100% of the capital stock of any of its Subsidiaries (except (A) with respect to equity interests of any such Subsidiary organized
outside the United States, for director’s qualifying shares or any other equity interests required to be held by a third party under
applicable law, (B) as permitted under Section 5.6, or (C) joint ventures constituting Permitted Investments);

 

    5 

     

    

 

(b)           If,
on any date of determination, (i) the requirements of clause (b) of the definition of “Post Toggle Payment Conditions”
have been achieved, and (ii) Holdings or any Affiliate thereof that is a Credit Party is registered with the SEC in good standing
and its equity is freely traded on a public securities exchange in the United States, then “Change in Control” means:

 

(i)            at
any time, any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities
Exchange Act of 1934, as amended) other than any one or more holders of equity interests of TFX as of the Closing Date, shall become,
or obtain rights (whether by means of warrants, options or otherwise) to become, the “beneficial owner” (as defined in Rules 13(d)-3
and 13(d)-5 under the Securities Exchange Act of 1934, as amended), directly or indirectly, of more than fifty percent (50%) of the equity
interests of TFX (prior to the Permitted Reorganization) or Holdings (on and after the Permitted Reorganization) or more than fifty percent
(50%) of the ordinary voting power for the election of directors of TFX prior to the Permitted Reorganization and Holdings on and after
the Permitted Reorganization (determined on a fully diluted basis) other than by the sale of TFX’s (prior to the Permitted Reorganization)
or Holdings’ (on and after the Permitted Reorganization) equity or convertible equity securities in a Qualified IPO or a Permitted
SPAC Transaction, so long as Borrower Representative provides to Agent at least ten (10) Business Days prior to the closing of the
transaction a general description of the material terms of the transaction, all documentation and other information required by Agent,
any Lender and/or any regulatory authorities under applicable “know your customer” and anti-money laundering rules and
regulations, including, without limitation, the USA PATRIOT Act, with respect to the Credit Parties, in each case, to the extent requested
by Agent or any Lender; or

 

(ii)            at
any time, TFX shall cease to own and control, of record and beneficially, directly or indirectly, one hundred percent (100.0%) of each
class of outstanding capital stock of each Subsidiary of TFX (except (A) with respect to equity interests of any such Subsidiary
organized outside the United States, for director’s qualifying shares or any other equity interests required to be held by a third
party under applicable law, (B) as permitted under Section 5.6, or (C) joint ventures constituting Permitted Investments)
free and clear of all Liens (except any Liens created by this Agreement and Permitted Liens); or

 

(c)          at
all times, the occurrence of any “Change of Control”, “Change in Control”, or terms of similar import under
any document or instrument governing or relating to equity in such Person or Debt of such Person, if the effect of such failure or
occurrence is to cause or to permit the holder or holders of any such Debt to cause Debt having an individual principal amount in
excess of the then-applicable Payment Condition Toggle Amount, individually or in the aggregate, to become or be declared due prior
to its stated maturity.

 

(d)         Notwithstanding
the foregoing, none of the Permitted Reorganization, a Permitted SPAC Transaction nor a Qualified IPO shall in and of itself constitute
a “Change in Control.”

 

“Closing Date”
means the date of this Agreement.

 

“Code”
means the Internal Revenue Code of 1986, as amended from time to time, any successor statutes thereto, and applicable U.S. Department
of Treasury regulations issued pursuant thereto in temporary or final form.

 

“Collateral”
means all property, now existing or hereafter acquired, mortgaged or pledged to, or purported to be subjected to a Lien in favor of, Agent,
for the benefit of Agent and Lenders, pursuant to this Agreement and the Security Documents, including, without limitation, all of the
property described in Schedule 9.1 hereto.

 

“Collateral Management
Fee” has the meaning set forth in Section 2.2(d).

 

“Commitment Annex”
means Annex A to this Agreement.

 

“Commitment Expiry
Date” means the date that is five (5) years following the Closing Date.

 

“Competitor”
means any Person that is an operating company reasonably identified by Agent as directly engaged in the same or substantially the same
line of business as any Credit Party and such business accounts for all or substantially all the revenue or net income of such Person
at the time of such determination.

 

    6 

     

    

 

“Compliance Certificate”
means a certificate, duly executed by a Responsible Officer of Borrower Representative, appropriately completed and substantially in the
form of Exhibit B hereto.

 

“Consolidated Subsidiary”
means, at any date, any Subsidiary the accounts of which would be consolidated with those of TFX prior to the Permitted Reorganization
or Holdings on and after the Permitted Reorganization (or any other Person, as the context may require hereunder) in its consolidated
financial statements if such statements were prepared as of such date.

 

“Contingent
Obligation” means, with respect to any Person, any direct or indirect liability of such Person: (a) with respect
to any Debt of another Person (a “Third Party Obligation”) if the purpose or intent of such Person incurring such liability,
or the effect thereof, is to provide assurance to the obligee of such Third Party Obligation that such Third Party Obligation will be
paid or discharged, or that any agreement relating thereto will be complied with, or that any holder of such Third Party Obligation will
be protected, in whole or in part, against loss with respect thereto; (b) with respect to any undrawn portion of any letter of credit
issued for the account of such Person or as to which such Person is otherwise liable for the reimbursement of any drawing; (c) under
any Swap Contract, to the extent not yet due and payable; (d) to make take-or-pay or similar payments if required regardless of nonperformance
by any other party or parties to an agreement; or (e) for any obligations of another Person pursuant to any Guarantee or pursuant
to any agreement to purchase, repurchase or otherwise acquire any obligation or any property constituting security therefor, to provide
funds for the payment or discharge of such obligation or to preserve the solvency, financial condition or level of income of another Person.
The amount of any Contingent Obligation shall be equal to the amount of the obligation so Guaranteed or otherwise supported or, if not
a fixed and determinable amount, the maximum amount so Guaranteed or otherwise supported.

 

“Controlled Group”
means all members of any group of corporations and all members of a group of trades or businesses (whether or not incorporated) under
common control which, together with any Borrower, are treated as a single employer under Section 414(b) or (c), of the Code
or Section 4001(b) of ERISA and, solely for purposes of Section 412 and 436 of the Code, Section 414(m) or (o) of
the Code.

 

“Credit Exposure”
means, at any time, any portion of the Revolving Loan Commitment that remains outstanding, or any Reimbursement Obligation or other Obligation
that remains unpaid or any Letter of Credit or Support Agreement not supported with cash collateral required by this Agreement that remains
outstanding; provided, however, that no Credit Exposure shall be deemed to exist solely
due to the existence of contingent indemnification liability, absent the assertion of a claim, or the known existence of a claim reasonably
likely to be asserted, with respect thereto.

 

“Credit Party”
means (a) each Borrower, (b) each Guarantor, and (c) each other Person, whether now existing or hereafter acquired or formed
that grants a Lien on all or substantially all of its assets to secure payment of the Obligations.

 

“Debt”
of a Person means at any date, without duplication, (a) all obligations of such Person for borrowed money, (b) all obligations
of such Person evidenced by bonds, debentures, notes or other similar instruments, (c) except to the extent such trade payables are
subject to a Permitted Contest, all obligations of such Person to pay the deferred purchase price of property or services, except trade
accounts payable arising and paid within 60 days of the due date therefor and in the Ordinary Course of Business, (d) all capital
leases of such Person other than leases that would have been considered operating leases under GAAP prior to January 1, 2019, (e) all
non-contingent obligations of such Person to reimburse any bank or other Person in respect of amounts paid under a letter of credit, banker’s
acceptance or similar instrument, (f) all equity securities of such Person subject to repurchase or redemption other than such equity
securities which (i) provide for such repurchase or redemption at the sole option of such Person, (ii) provide for such repurchase
or redemption only after ninety-one (91) days following the Termination Date, and (iii) provide for such repurchase or redemption
as a result of a change in control event or asset sale or other disposition or casualty event, so long as any rights of the holders thereof
to require the redemption thereof upon the occurrence of such a change of control event or asset sale or other disposition or casualty
event are subject to the prior payment or conversion in full of the Obligations, (g) all obligations secured by a Lien on any asset
of such Person, whether or not such obligation is otherwise an obligation of such Person, (h) ”earnouts”, purchase price
adjustments, profit sharing arrangements, deferred purchase money amounts and similar payment obligations or continuing obligations of
any nature of such Person arising out of purchase and sale contracts, (i) all Debt of others Guaranteed by such Person, (j) off-balance
sheet liabilities and/or Pension Plan or Multiemployer Plan liabilities of such Person, and (k) obligations arising under non-compete
agreements to the extent. Without duplication of any of the foregoing, Debt of Credit Parties shall include any and all Loans and Letter
of Credit Liabilities.

 

    7 

     

    

 

“Default”
means any condition or event which with the giving of notice or lapse of time or both would, unless cured or waived, become an Event of
Default.

 

“Defaulted Lender”
means, so long as such failure shall remain in existence and uncured, any Lender which shall have failed to make any Loan or other credit
accommodation, disbursement, settlement or reimbursement required pursuant to the terms of any Financing Document.

 

“Deposit Account”
means a “deposit account” (as defined in Article 9 of the UCC), an investment account, or other account in which funds
are held or invested for credit to or for the benefit of any Credit Party.

 

“Deposit Account
Control Agreement” means an agreement, in form and substance reasonably satisfactory to Agent, among Agent, any Credit Party
and each financial institution in which such Credit Party maintains a Deposit Account, which agreement provides that (a) such financial
institution shall comply with instructions originated by Agent directing disposition of the funds in such Deposit Account without further
consent by the applicable Credit Party, and (b) such financial institution shall agree that it shall have no Lien on, or right of
setoff or recoupment against, such Deposit Account or the contents thereof, other than in respect of usual and customary service fees
and returned items for which Agent has been given value, in each such case expressly consented to by Agent, and containing such other
terms and conditions as Agent may reasonably require, including as to any such agreement pertaining to any Lockbox Account, providing
that such financial institution shall wire, or otherwise transfer, in immediately available funds, on a daily basis to the Payment Account
all funds received or deposited into such Lockbox or Lockbox Account.

 

“Dilution”
means, as of any date of determination, a percentage, based upon the experience during any prior period selected from time to time by
Agent in its Permitted Discretion, that is the result of dividing the Dollar amount of (a) bad debt write-downs, discounts, advertising
allowances, credits, or other dilutive items with respect to Borrowers’ Accounts during such period, without duplication, by (b) Borrowers’
billings with respect to Accounts during such period.

 

“Dilution Reserve”
means, as of any date of determination, an amount sufficient to reduce the advance rate against Eligible Accounts, Eligible Pre Audit
Account, and an Eligible Unbilled Account by one (1) percentage point for each percentage point by which Dilution is in excess of
five percent (5%).

 

“Disqualified
Stock” means any equity interest that, by its terms (or by the terms of any security or other equity interest 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,
pursuant to a sinking fund obligation or otherwise, or is redeemable at the option of the holder thereof, in whole or in part, on or prior
to the date which is ninety-one (91) days after the Termination Date, (b) is convertible into or exchangeable for (i) debt securities
or (ii) any equity interest referred to in clause (a) above, in each case at any time prior to the date which is ninety-one
(91) days after the Termination Date, (c) contains any repurchase obligation that would be expected to come into effect either (i) prior
to payment in full of all Obligations or (ii) prior to the date that is ninety-one (91) days after the Termination Date or (d) provides
for scheduled payments or requires the payment of cash dividends or distributions prior to the date that is ninety-one (91) days after
the Maturity Date.

 

    8 

     

    

 

“Dollars”
or “$” means the lawful currency of the United States of America.

 

“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 Account”
means, subject to the criteria below, an account receivable of a Credit Party, which was generated in the name of a Credit Party in its
Ordinary Course of Business and not acquired via assignment, acquisition or otherwise (other than any account receivable acquired by a
Credit Party pursuant to a Permitted Acquisition and for which Agent has completed its customary diligence, including a collateral audit,
the results of which are acceptable to Agent in its Permitted Discretion), and which Agent, in its good faith credit judgment and discretion,
deems to be an Eligible Account. The net amount of an Eligible Account at any time shall be the face amount of such Eligible Account
as originally billed minus all cash collections and other proceeds of such Account received from or on behalf of the Account Debtor
thereunder as of such date and any and all returns, rebates, discounts (which may, at Agent’s option, be calculated on shortest
terms), credits, allowances or excise taxes of any nature at any time issued, owing, claimed by Account Debtors, granted, outstanding
or payable in connection with such Accounts at such time. Without limiting the generality of the foregoing, no Account shall be an Eligible
Account if:

 

(a)            the
Account remains unpaid more than ninety (90) days (except for Accounts with respect to which the Account Debtor is Abbott Laboratories,
Proctor & Gamble, Anheuser Busch, Anthony International, Celanese, Hill Phoenix, Mondelez International, Upfield and Unilever
for which such period shall be one hundred twenty (120) days) past the claim or invoice date (but in no event more than sixty (60) days
after the due date therefor);

 

(b)            the
Account is subject to any defense, set-off, recoupment, counterclaim, deduction, discount, credit, chargeback, freight
claim, allowance, or adjustment of any kind (but only to the extent of such defense, set-off, recoupment, counterclaim, deduction, discount,
credit, chargeback, freight claim, allowance, or adjustment), or the applicable Credit Party
is not able to bring suit or otherwise enforce its remedies against the Account Debtor through judicial process;

 

(c)            if
the Account arises from the sale of goods, any part of any goods the sale of which has given rise to the Account has been
returned, rejected, lost, or damaged (but only to the extent that such goods have been so returned, rejected, lost or damaged);

 

    9 

     

    

 

(d)            if
the Account arises from the sale of goods, the sale was not an absolute, bona fide sale, or the sale was made on consignment or on approval
or on a sale-or-return or bill-and-hold or progress billing basis, or the sale was made subject to any other repurchase or return agreement,
or the goods have not been shipped to the Account Debtor or its designee or the sale was
not made in compliance with applicable Laws;

 

(e)            if
the Account arises from the performance of services, the services have not actually been performed or the services were undertaken in
violation of any Law or the Account represents a progress billing for which services have not been fully and completely rendered;

 

(f)            the
Account is subject to a Lien (except for Liens in favor of the Agent and Permitted Liens
that are junior in priority to the Liens in favor of the Agent and subject to a Subordination Agreement), or Agent does not have a first
priority, perfected Lien on such Account;

 

(g)            the
Account is evidenced by Chattel Paper or an Instrument of any kind, or has been reduced to judgment, unless such
Chattel Paper or Instrument has been delivered to Agent;

 

(h)            the
Account Debtor is an Affiliate or Subsidiary of a Credit Party, or if the Account Debtor holds any Debt of a Credit Party;

 

(i)            more
than fifty percent (50%) of the aggregate balance of all Accounts owing from the Account Debtor obligated on the Account are ineligible
under subclause (a) above (in which case all Accounts from such Account Debtor shall be ineligible);

 

(j)            without
limiting the provisions of clause (i) above, (i) fifty percent (50%) or more of the aggregate unpaid Accounts from
an Account Debtor obligated on the Account, in each case, are not deemed Eligible Accounts under this Agreement for any reason;

 

(k)            w
the total unpaid Accounts of the Account Debtor obligated on the Account exceed (i) fifty percent (50%) or more of the net amount
of all Eligible Accounts owing from all Account Debtors that are rated by Standard and Poor’s or Moody’s as investment grade
(but only the amount of the Accounts of such Account Debtor exceeding such fifty percent
(50%) limitation shall be considered ineligible), (ii) thirty five percent (35%) or more of the net amount of all Eligible Accounts
owing from Account Debtors set forth on Schedule 1.2 (as updated from time to time with the consent of Agent) is obligated on the
Account (but only the amount of the Accounts of such Account Debtor exceeding such thirty
five percent (35%) limitation shall be considered ineligible), or (iii) twenty five percent (25%) or more of the net amount of all
Eligible Accounts owing from all Account Debtors obligated on the Account (but only the amount of the Accounts
of such Account Debtor exceeding such twenty five percent (25%) limitation shall be considered ineligible);

 

(l)            any
covenant, representation or warranty contained in the Financing Documents with respect to such Account has been breached in any material
respect;

 

(m)            the
Account is unbilled or has not been invoiced to the Account Debtor in accordance with the procedures and requirements of the applicable
Account Debtor;

 

(n)            the
Account is an obligation of an Account Debtor that is the federal, state or local government or any political subdivision thereof, unless
(i) Agent has agreed to the contrary in writing and Agent has received from the Account Debtor the acknowledgement of Agent’s
notice of assignment of such obligation pursuant to this Agreement, (ii) the Account is supported by an irrevocable letter of credit
satisfactory to Agent (as to form, substance and issuer or domestic confirming bank) that has been delivered to Agent and is directly
drawable by Agent, (iii) such Account is covered by credit insurance in form, substance and amount and by an insurer, satisfactory
to Agent, or (iv)  if such Account is owing by the federal government, Borrowers shall have complied to the reasonable satisfaction
of Agent with all applicable requirements of the Assignment of Claims Act, 31 USC §3727, with respect thereto;

 

    10 

     

    

 

(o)            the
Account is an obligation of an Account Debtor that has suspended business, made a general assignment for the benefit
of creditors, is unable to pay its debts as they become due or as to which a petition has been filed (voluntary or involuntary) under
any law relating to bankruptcy, insolvency, reorganization or relief of debtors, or the Account is an Account as to which any facts, events
or occurrences exist which could reasonably be expected to impair the validity, enforceability or collectability of such Account or reduce
the amount payable or delay payment thereunder;

 

(p)            the
Account Debtor has its principal place of business or executive office outside the United States or Canada; provided that Accounts
owing from Account Debtors with a principal place of business or executive office located in Mexico, the United Kingdom or any EEA Member
Country, in an amount not to exceed ten percent (10%) of the total aggregate amount of all Eligible Accounts, shall not be ineligible
solely as a result of this clause (p), so long as (i) payment of the Account is assured by a credit insurance policy the proceeds
of which have been assigned to Agent and is otherwise satisfactory to Agent as to form, amount and issuer in its sole discretion and (ii) Agent
has approved such Account Debtor in writing (such approval not to be unreasonably withheld, conditioned or delayed);

 

(q)            the
Account is payable in a currency other than United States dollars;

 

(r)            the
Account Debtor is an individual;

 

(s)            the
Credit Party owning such Account has not signed and delivered to Agent notices, in the form requested by Agent, directing the Account
Debtors to make payment to the applicable Lockbox Account;

 

(t)            the
Account includes late charges or finance charges (but only such portion of the Account shall be ineligible);

 

(u)            the
Account arises out of the sale of any Inventory upon which any other Person holds, claims or asserts a Lien (other than Permitted Liens
described in clause (l) of the definition thereof); or

 

(v)            the
Account or Account Debtor fails to meet such other specifications and requirements which may from time to time be established by Agent
in its Permitted Discretion.

 

All Accounts that are at any
time excluded from Eligible Accounts by virtue of any one or more of the exclusionary criteria set forth above shall nevertheless constitute
Collateral.

 

“Eligible Assignee”
means (a) a Lender (other than a Defaulted Lender), (b) an Affiliate of a Lender, (c) an Approved Fund, and (d) any
other Person (other than a natural person) approved by Agent; provided, however, that notwithstanding the foregoing, (x) ”Eligible
Assignee” shall not include (i) any Credit Party or any of a Credit Party’s Affiliates, (ii) any natural person,
or (iii) any Person that is a Competitor or any known Affiliate of a Competitor reasonably identified by Agent, and (y) no proposed
assignee intending to assume all or any portion of the Revolving Loan Commitment shall be an Eligible Assignee unless such proposed assignee
either already holds a portion of such Revolving Loan Commitment or has been approved as an Eligible Assignee by Agent.

 

    11 

     

    

 

“Eligible Pre-Audit
Accounts” means any Account of a Credit Party (i) that has been acquired pursuant to a Permitted Acquisition, (ii) that
has not been subject to and would otherwise constitute an Eligible Account but for the requirement of the definition of “Eligible
Account” that Agent’s customary collateral audit be completed, the results of which are acceptable to Agent in its Permitted
Discretion, and (iii) with respect to which no more than twenty (20) days has elapsed since the acquisition of such Account (or such
longer period as Agent may agree in its sole discretion); provided, however, that each Eligible Pre-Audit Account shall be properly
recorded on Borrowers’ accounting systems (or an accounting system accessible to Borrower) at all times and shall be subject to
establishment of reserves consistent with any reserves that may be established under clause (e) of the definition of “Borrowing
Base”; provided further, however, that if Borrower has provided the requisite notice of the Permitted Acquisition and Agent has
failed to timely conduct its customary collateral audit, then such Account shall be deemed to be an “Eligible Pre-Audit Account”
hereunder.

 

“Eligible Unbilled
Accounts” means any Account of a Credit Party that (i) has not been invoiced or billed, (ii) would otherwise constitute
an Eligible Account but for the requirements of clauses (a) and (m) of the definition of “Eligible Account” and
(iii) no more than thirty (30) days has elapsed since the day on which such Borrower completed performance of the services or delivered
the goods, as applicable, giving rise to such Account; provided, however, that each Eligible Unbilled Account shall be properly
recorded on Borrowers’ accounting systems at all times and shall be subject to establishment of reserves that may be established
under clause (e) of the definition of “Borrowing Base”.

 

“Environmental Laws”
means any present and future federal, state and local laws, statutes, ordinances, rules, regulations, standards, policies and other governmental
directives or requirements, as well as common law, pertaining to the environment, natural resources, pollution, human health and safety,
or clean-up that apply to any Credit Party and relate to Hazardous Materials, including, without limitation, the Comprehensive Environmental
Response, Compensation and Liability Act of 1980 (42 U.S.C. § 9601 et seq.), the Resource Conservation and Recovery Act of
1976 (42 U.S.C. § 6901 et seq.), the Federal Water Pollution Control Act (33 U.S.C. § 1251 et seq.), the Hazardous
Materials Transportation Act (49 U.S.C. § 5101 et seq.), the Clean Air Act (42 U.S.C. § 7401 et seq.), the Federal
Insecticide, Fungicide and Rodenticide Act (7 U.S.C. § 136 et seq.), the Emergency Planning and Community Right-to-Know Act
(42 U.S.C. § 11001 et seq.), the Occupational Safety and Health Act (29 U.S.C. § 651 et seq.), the Residential
Lead-Based Paint Hazard Reduction Act (42 U.S.C. § 4851 et seq.), any analogous state or local laws, any amendments thereto,
and the regulations promulgated pursuant to said laws, together with all amendments from time to time to any of the foregoing and judicial
interpretations thereof.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as the same may be amended, modified or supplemented from time to time, and
any successor statute thereto, and any and all rules or regulations promulgated from time to time thereunder.

 

“ERISA Plan”
means any “employee benefit plan”, as such term is defined in Section 3(3) of ERISA (other than a Multiemployer
Plan), which any Credit Party maintains, sponsors or contributes to, or, in the case of an employee benefit plan which is subject to Section 412
of the Code or Title IV of ERISA, to which any Credit Party or any member of the Controlled Group may have any liability, including any
liability by reason of having been a substantial employer within the meaning of Section 4063 of ERISA at any time during the preceding
five (5) years, or by reason of being deemed to be a contributing sponsor under Section 4069 of ERISA.

 

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

 

“Event of Default”
has the meaning set forth in Section 10.1.

 

    12 

     

    

 

“Excluded Accounts”
has the meaning set forth in Section 5.14(b).

 

“Excluded
Property” shall mean (i) any right, title or interest in any permit, lease, capital lease, license, contract,
agreement, account receivable or other General Intangible or instrument held by the Credit Parties, or to which any of the Credit
Parties is a party or any of its right, title or interest thereunder to the extent, or any assets owned by such Credit Party that
are subject to a purchase money Lien, a Lien securing a capital lease or any similar arrangement, but only to the extent, that the
creation of a security interest therein would, under applicable law or the terms of such permit, lease, capital lease, license,
contract, agreement, account receivable, agreement, General Intangible or instrument creating rights in such permit, lease, capital
lease, license, contract, agreement, account receivable, agreement, General Intangible, instrument, assets, goods, inventory or
equipment, or as a matter of law, result in a breach of the terms of, or constitute a default under, any permit, lease, capital
lease, license, contract, agreement, account receivable, agreement creating rights in such permit, lease, capital lease, license,
contract, agreement, account receivable, agreement, General Intangible or instrument, assets, goods, inventory or equipment held by
the Credit Parties or to which any of the Credit Parties is a party or render void the security interest therein (other than to the
extent that any such term would be rendered ineffective pursuant to Section 9-406, 9-407, 9-408 or 9-409 of the UCC (or any
successor provision or provisions)); provided, that immediately upon the ineffectiveness, lapse or termination of any such
provision or upon obtaining a required consent to cure any potential breach, such right, title or interest in such permit, lease,
capital lease, license, contract, agreement, account receivable, inventory or equipment shall cease to be an “Excluded
Property”; (ii) Excluded Accounts; (iii) to the extent that the pledge of more than sixty-five percent (65%) of the
outstanding voting equity interests of any CFC would have a material tax impact on any direct or indirect parent of such CFC, the
voting stock or other voting equity interests of any CFC, solely to the extent that such voting equity interests represent more than
sixty-five percent (65%) of the outstanding voting equity interests of such CFC, and (y) any equity interests of any Subsidiary
of a CFC; and (iv) any United States intent-to-use trademark application prior to the filing of a “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 creation by a Credit Party of a security interest therein would impair the validity or enforceability of such
intent-to-use trademark application under applicable federal law, rule or regulation. For the avoidance of doubt,
 “Excluded Property” shall not include any right to receive any payment of money or the proceeds, substitutions or
replacements of any Excluded Property (unless such proceeds, substitutions or replacements would constitute an Excluded
Property).

 

“Excluded Taxes”
means any of the following Taxes imposed on or with respect to Agent, any Lender or any other recipient of any payment to be made by or
on behalf of any obligation of Credit Parties hereunder or the Obligations or required to be withheld or deducted from a payment to Agent,
such Lender or such recipient (including any interest and penalties thereon): (a) Taxes to the extent imposed on or measured by Agent’s,
any Lender’s or such recipient’s net income (however denominated), branch profits Taxes, and franchise Taxes and similar Taxes,
in each case, (i) imposed by the jurisdiction (or any political subdivision thereof) under which Agent, such Lender or such recipient
is organized, has its principal office or conducts business with respect to entering into any of the Financing Documents or taking any
action thereunder or (ii) that are Other Connection Taxes; (b) in the case of a Lender, United States withholding Taxes imposed
on amounts payable to or for the account of such Lender with respect to an applicable interest in the Loans pursuant to a Law in effect
on the date on which (i) such Lender becomes a party to this Agreement other than as a result of an assignment requested by a Credit
Party under the terms hereof or (ii) such Lender changes its lending office for funding its Loan, except in each case to the extent
that, pursuant to Section 2.8, amounts with respect to such Taxes were payable either to such Lender’s assignor immediately
before such Lender acquired the applicable interest in a Loan, Letter of Credit, Revolving Loan Commitment or to such Lender immediately
before it changed its lending office; (c) Taxes attributable to such Lender’s failure to comply with Section 2.8(c); and
(d) any withholding Taxes imposed in respect of a Lender under FATCA.

 

    13 

     

    

 

 

“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, any
agreement entered into pursuant to the implementation of Section 1471(b)(1) of the Code, and any fiscal or regulatory legislation
rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities and implementing
such sections of the Code.

 

“Federal Funds
Rate” means, for any day, the rate of interest per annum (rounded upwards, if necessary, to the nearest whole multiple of
1/100 of 1%) equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve
System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next
succeeding such day, provided, however, 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, and (b) if no such rate is so published on such
next preceding Business Day, the Federal Funds Rate for such day shall be the average rate quoted to Agent on such day on such
transactions as determined by Agent.

 

“Fee Letter”
means each agreement between Agent and Borrower relating to fees payable to Agent in connection with this Agreement.

 

“Financing Documents”
means this Agreement, any Notes, each Fee Letter, the Security Documents, any subordination or intercreditor agreement pursuant to which
any Debt and/or any Liens securing such Debt is subordinated to all or any portion of the Obligations and all other documents, instruments
and agreements related to the Obligations and heretofore executed, executed concurrently herewith or executed at any time and from time
to time hereafter, as any or all of the same may be amended, supplemented, restated or otherwise modified from time to time.

 

“Foreign Lender”
has the meaning set forth in Section 2.8(c)(i).

 

“GAAP”
means generally accepted accounting principles set forth from time to time in the opinions and pronouncements of the Accounting Principles
Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards
Board (or agencies with similar functions of comparable stature and authority within the United States accounting profession), which are
applicable to the circumstances as of the date of determination.

 

“General Intangible”
means any “general intangible” as defined in Article 9 of the UCC, and any personal property, including things in action,
other than accounts, chattel paper, commercial tort claims, deposit accounts, documents, goods, instruments, investment property, letter-of-credit
rights, letters of credit, money, and oil, gas or other minerals before extraction, but including payment intangibles and software.

 

“Governmental Authority”
means any nation or government, any state, local or other political subdivision thereof, and any agency, department or Person exercising
executive, legislative, judicial, regulatory or administrative functions of or pertaining to government and any corporation or other Person
owned or controlled (through stock or capital ownership or otherwise) by any of the foregoing, whether domestic or foreign.

 

“Guarantee”
by any Person means any obligation, contingent or otherwise, of such Person directly or indirectly guaranteeing any Debt or other obligation
of any other Person and, without limiting the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise,
of such Person (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Debt or other obligation (whether
arising by virtue of partnership arrangements, by agreement to keep-well, to purchase assets, goods, securities or services, to take-or-pay,
or to maintain financial statement conditions or otherwise), or (b) entered into for the purpose of assuring in any other manner
the obligee of such Debt or other obligation of the payment thereof or to protect such obligee against loss in respect thereof (in whole
or in part), provided, however, that the term Guarantee shall not include endorsements for collection or deposit in the
Ordinary Course of Business. The term “Guarantee” used as a verb has a corresponding meaning.

 

    14 

     

    

 

“Guarantor”
means Holdings and any other Person that has executed or delivered, or shall in the future execute or deliver, any Guarantee of any portion
of the Obligations (including pursuant to Article 12 hereof).

 

“Hazardous
Materials” means petroleum and petroleum products and compounds containing them, including gasoline, diesel fuel and oil;
explosives, flammable materials; radioactive materials; polychlorinated biphenyls and compounds containing them; lead and lead-based
paint; asbestos or asbestos-containing materials; any substance the presence of which is prohibited by any Environmental Laws; toxic
mold, any substance that requires special handling; and any other material or substance now or in the future defined as a
 “hazardous substance,” “hazardous material,” “hazardous waste,” “toxic substance,”
 “toxic pollutant,” “contaminant,” “pollutant” or other words of similar import within the
meaning of any Environmental Law, including: (a) any “hazardous substance” defined as such in (or for purposes of)
CERCLA, or any so-called “superfund” or “superlien” Law, including the judicial interpretation thereof;
(b) any “pollutant or contaminant” as defined in 42 U.S.C.A. § 9601(33); (c) any material now defined as
 “hazardous waste” pursuant to 40 C.F.R. Part 260; (d) any petroleum or petroleum by-products, including crude
oil or any fraction thereof; (e) natural gas, natural gas liquids, liquefied natural gas, or synthetic gas usable for fuel;
(f) any “hazardous chemical” as defined pursuant to 29 C.F.R. Part 1910; (g) any toxic or harmful
substances, wastes, materials, pollutants or contaminants (including, without limitation, asbestos, polychlorinated biphenyls,
flammable explosives, radioactive materials, infectious substances, materials containing lead-based paint or raw materials which
include hazardous constituents); and (h) any other toxic substance or contaminant that is subject to any Environmental Laws or
other past or present requirement of any Governmental Authority.

 

“Hazardous Materials
Contamination” means contamination (whether now existing or hereafter occurring) of the improvements, buildings, facilities,
personalty, soil, groundwater, air or other elements on or of the relevant property by Hazardous Materials, or any derivatives thereof,
or on or of any other property as a result of Hazardous Materials, or any derivatives thereof, generated on, emanating from or disposed
of in connection with the relevant property.

 

“Holdings”
means an entity formed in a state within the United States that, upon formation, shall become the direct parent or the direct parent of
the direct parent of TFX and satisfy the other obligations set forth in paragraph 2 of Schedule 7.4.

 

“Indemnified
Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account
of any obligation of Borrowers or any other Credit Party under any Financing Documents and (b) to the extent not otherwise described
in (a), Other Taxes.

 

“Instrument”
means “instrument”, as defined in Article 9 of the UCC.

 

“Intellectual Property”
means all patents, patent applications and like protections, including improvements divisions, continuations, renewals, reissues, extensions
and continuations in part of the same, trademarks, trade names, trade styles, trade dress, service marks, logos and other business identifiers
and, to the extent permitted under applicable law, any applications therefor, whether registered or not, and the goodwill of the business
of such Person connected with and symbolized thereby, copyright rights, copyright applications, copyright registrations and like protections
in works of authorship and derivative works, whether published or unpublished, technology, know-how and processes, operating manuals,
trade secrets, computer hardware and software, rights to unpatented inventions and all applications and licenses therefor, used in or
necessary for the conduct of business by such Person and all claims for damages by way of any past, present or future infringement of
any of the foregoing.

 

    15 

     

    

 

“Interest Period”
means any period commencing on the first day of a calendar month and ending on the last day of such calendar month.

 

“Inventory”
means “inventory” as defined in Article 9 of the UCC.

 

“Investment”
means any investment in any Person, whether by means of acquiring (whether for cash, property, services, securities or otherwise), making
or holding Debt, securities, capital contributions, loans, time deposits, advances, or Guarantees. The amount of any Investment shall
be the original cost of such Investment plus the cost of all additions thereto, without any adjustments for increases or decreases
in value, or write-ups, write-downs or write-offs with respect thereto.

 

“IRS”
has the meaning set forth in Section 2.8(c)(i).

 

“Laws”
means any and all federal, state, provincial, territorial, local and foreign statutes, laws, judicial decisions, regulations, ordinances,
rules, judgments, orders, decrees, codes, injunctions, permits, governmental agreements and governmental restrictions, whether now or
hereafter in effect, which are applicable to any Credit Party in any particular circumstance. “Laws” includes, without
limitation, Environmental Laws.

 

“LC
Issuer” means one or more banks, trust companies or other Persons in each case expressly identified by Agent from time to time,
in its sole discretion, as an LC Issuer for purposes of issuing one or more Letters of Credit hereunder. Without limitation of Agent’s
discretion to identify any Person as an LC Issuer, no Person shall be designated as an LC Issuer unless such Person maintains reporting
systems acceptable to Agent with respect to letter of credit exposure and agrees to provide regular reporting to Agent satisfactory to
it with respect to such exposure.

 

“Lender”
means each of (a) MCF, in its capacity as a lender hereunder, (b) each other Person party hereto in its capacity as a lender
hereunder, (c) each other Person that becomes a party hereto as Lender pursuant to Section 11.17, and (d) the respective
successors of all of the foregoing, and “Lenders” means all of the foregoing.

 

“Lender
Letter of Credit” means a Letter of Credit issued by an LC Issuer that is also, at the time of issuance of such Letter of Credit,
a Lender.

 

“Letter
of Credit” means a standby letter of credit issued for the account of any Borrower by an LC Issuer which expires by its terms
within one year after the date of issuance and in any event at least thirty (30) days prior to the Commitment Expiry Date. Notwithstanding
the foregoing, a Letter of Credit may provide for automatic extensions of its expiry date for one or more successive one (1) year
periods, provided, however, that the LC Issuer that issued such Letter of Credit has the right to terminate such Letter of Credit
on each such annual expiration date and no renewal term may extend the term of the Letter of Credit to a date that is later than the thirtieth
(30th) day prior to the Commitment Expiry Date. Each Letter of Credit shall be either a Lender Letter of Credit or a Supported Letter
of Credit.

 

    16 

     

    

 

“Letter
of Credit Liabilities” means, at any time of calculation, the sum of (a) without duplication, the amount then available
for drawing under all outstanding Lender Letters of Credit and all Supported Letters of Credit, in each case without regard to whether
any conditions to drawing thereunder can then be met, plus (b) without duplication, the aggregate unpaid amount of all reimbursement
obligations in respect of previous drawings made under all such Lender Letters of Credit and Supported Letters of Credit.

 

“LIBOR Rate”
means, for each Loan, a per annum rate of interest equal to the greater of (a) one percent (1.00%) and (b) the rate determined
by Agent (rounded upwards, if necessary, to the next 1/100th%) by dividing (i) the Base LIBOR Rate for the Interest Period,
by (ii) the sum of one minus the daily average during such Interest Period of the aggregate maximum reserve requirement
(expressed as a decimal) then imposed under Regulation D of the Board of Governors of the Federal Reserve System (or any successor thereto)
for “Eurocurrency Liabilities” (as defined therein).

 

“Lien”
means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind, in respect of such
asset. For the purposes of this Agreement and the other Financing Documents, any Credit Party or any Subsidiary shall be deemed to own
subject to a Lien any asset which it has acquired or holds subject to the interest of a vendor or lessor under any conditional sale agreement,
capital lease or other title retention agreement relating to such asset.

 

“Liquidity”
means, as of any date of determination, the sum of (a) the Revolving Loan Availability plus (b) Borrower Unrestricted
Cash.

 

“Liquidity Payment
Conditions” means the satisfaction of clauses (a), (b)(ii)(A) and (c) of the definition of “Post Toggle Payment
Conditions” at the time of, and after giving pro forma effect to, such proposed transaction.

 

“Litigation”
means any action, suit or proceeding before any court, mediator, arbitrator or Governmental Authority.

 

“Loan(s)”
means the Revolving Loans.

 

“Loan Account”
has the meaning set forth in Section 2.6(b).

 

“Lockbox”
has the meaning set forth in Section 2.11.

 

“Lockbox Account”
means an account or accounts maintained at the Lockbox Bank into which collections of Accounts are paid.

 

“Lockbox Bank”
has the meaning set forth in Section 2.11.

 

“Margin Stock”
means “margin stock” as such term is defined in Regulation T, U, or X of the Board of Governors of the Federal Reserve System.

 

“Material Adverse
Effect” means with respect to any event, act, condition or occurrence of whatever nature, a material adverse change in, or a
material adverse effect upon, any of (i) the financial condition, operations, business or properties of the Credit Parties, taken
as a whole, (ii) the ability of Agent or Lenders to enforce the Obligations or realize upon a portion of the Collateral in which
Agent has previously perfected a Lien having an aggregate value in excess of $1,000,000 (other than as a result of an action taken or
not taken that is solely in the control of Agent), or the ability of any Credit Party to perform any of its material obligations under
any Financing Document to which it is a party, (iii) the legality, validity or enforceability of any Financing Document, or (iv) the
existence, perfection or priority of any security interest granted in any Financing Document and covering Collateral in which Agent has
previously perfected a Lien with an aggregate value in excess of $1,000,000

 

“Material Contracts”
has the meaning set forth in Section 3.17.

 

“Maximum Lawful Rate”
has the meaning set forth in Section 2.7.

 

“MCF” means
MidCap Financial Trust, a Delaware statutory trust, and its successors and assigns.

 

    17 

     

    

 

“Minimum Balance”
shall mean, at any time, an amount that equals the product of: (i) the average Borrowing Base (or, if less on any given day, the
Revolving Loan Commitment) during the immediately preceding month multiplied by (ii) the Minimum Balance Percentage for such
month.

 

“Minimum Balance
Fee” shall mean a fee equal to (a) the positive difference, if any, remaining after subtracting (i) the average end-of-day
principal balance of Revolving Loans outstanding during the immediately preceding month (without giving effect to the clearance day calculations
referenced above or in Section 2.2(a) from (ii) the Minimum Balance multiplied by (b) the highest interest
rate applicable to the Revolving Loans during such month (or, during the existence of an Event of Default, the default rate of interest
set forth in Section 10.5(a)).

 

“Minimum Balance
Percentage” means ten percent (10%).

 

“Multiemployer Plan”
means a multiemployer plan within the meaning of Section 4001(a)(3) of ERISA to which any Credit Party or any other member of
the Controlled Group (or any Person who in the last five years was a member of the Controlled Group) is making or accruing an obligation
to make contributions or has within the preceding five plan years (as determined on the applicable date of determination) made contributions.

 

“Notes”
has the meaning set forth in Section 2.3.

 

“Notice of Borrowing”
means a notice of a Responsible Officer of Borrower Representative, appropriately completed and substantially in the form of Exhibit D
hereto.

 

“Notice
of LC Credit Event” means a notice from a Responsible Officer of Borrower Representative to Agent with respect to any issuance,
increase or extension of a Letter of Credit specifying: (a) the date of issuance or increase of a Letter of Credit; (b) the
identity of the LC Issuer with respect to such Letter of Credit, (c) the expiry date of such Letter of Credit; (d) the proposed
terms of such Letter of Credit, including the face amount; and (e) the transactions that are to be supported or financed with such
Letter of Credit or increase thereof.

 

“Obligations”
means all obligations, liabilities and indebtedness (monetary (including, without limitation, the payment of interest and other amounts
arising after the commencement of any case with respect to any Credit Party under the Bankruptcy Code or any similar statute which would
accrue and become due but for the commencement of such case, whether or not such amounts are allowed or allowable in whole or in part
in such case) or otherwise) of each Credit Party under this Agreement or any other Financing Document, in each case howsoever created,
arising or evidenced, whether direct or indirect, absolute or contingent, now or hereafter existing, or due or to become due. In addition
to, but without duplication of, the foregoing, the Obligations shall include, without limitation, all obligations, liabilities and indebtedness
arising from or in connection with (a) all Support Agreements and (b) all Lender Letters of Credit.

 

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

 

“OFAC Lists”
means, collectively, the Specially Designated Nationals and Blocked Persons List maintained by OFAC pursuant to Executive Order No. 13224,
66 Fed. Reg. 49079 (Sept. 25, 2001) and/or any other list of terrorists or other restricted Persons maintained pursuant to any of the
rules and regulations of OFAC or pursuant to any other applicable Executive Orders.

 

    18 

     

    

 

“Operative Documents”
means the Financing Documents and Subordinated Debt Documents.

 

“Ordinary
Course of Business” means, in respect of any transaction involving any Credit Party, the ordinary course of business of such
Credit Party, as conducted by such Credit Party in accordance with past practices or as conducted by such Credit Party in accordance
with ordinary prevailing industry standards of the industry in which such Credit Party has its primary business or any business reasonably
related or ancillary thereto or reasonable extensions thereof and undertaken by such Credit Party in good faith and not for purposes of
evading any covenant or restriction in any Financing Document.

 

“Organizational Documents”
means, with respect to any Person other than a natural person, the documents by which such Person was organized (such as a certificate
of incorporation, certificate of limited partnership or articles of organization, and including, without limitation, any certificates
of designation for preferred stock or other forms of preferred equity) and which relate to the internal governance of such Person (such
as by-laws, a partnership agreement or an operating, limited liability company or members agreement), including any and all shareholder
agreements or voting agreements relating to the capital stock or other equity interests of such Person.

 

“Other
Connection Taxes” means taxes imposed as a result of a present or former connection between Agent or any Lender and the jurisdiction
imposing such tax (other than connections arising from Agent or such Lender having executed, delivered, become a party to, performed its
obligations under, received payments under, engaged in any other transaction pursuant to or enforced any Financing Document, or sold or
assigned an interest in any Loans or any Financing Document).

 

“Other
Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar taxes that arise from
any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a
security interest under, or otherwise with respect to, any Financing Document, except any such taxes that are Other Connection Taxes imposed
with respect to an assignment (other than an assignment made pursuant to Section 2.8(i)).

 

“Overdue
AP” means the sum of all amounts due and owing to Borrowers’ trade creditors which are outstanding sixty (60) days
or more past their due date as most recently reported to Agent pursuant to Section 4.1.

 

“Overdue AP Reserve”
means a reserve established and maintained by Agent in an amount equal to the Overdue AP.

 

“Participant Register”
has the meaning set forth in Section 11.17(a)(iii).

 

“Payment Account”
means the account specified on the signature pages hereof into which all payments by or on behalf of each Borrower to Agent under
the Financing Documents shall be made, or such other account as Agent shall from time to time specify by notice to Borrower Representative.

 

“Payment Condition
Toggle Amount” means, as of any date of determination, if (i) the Pre Toggle Payment Conditions have been met or exceeded,
but the Post Toggle Payment Conditions have not been met, $1,000,000 and (ii) the Post Toggle Payment Conditions have been met, $5,000,000.

 

“PBGC”
means the Pension Benefit Guaranty Corporation and any Person succeeding to any or all of its functions under ERISA.

 

    19 

     

    

 

“Pension Plan”
means any ERISA Plan that is subject to Section 412 of the Code or Title IV of ERISA.

 

“Permits”
means all governmental licenses, authorizations, supplier numbers, registrations, permits, certificates, franchises, qualifications, accreditations,
consents and approvals of a Credit Party required under all applicable Laws and required for such Credit Party in order to carry on its
business as now conducted.

 

“Permitted
Acquisition” means any acquisition by a Credit Party to the extent that each of the following conditions shall have been
satisfied:

 

(a)            the
Borrower Representative shall have delivered and/or confirmed to Agent;

 

(i)            with
respect to any acquisition or series of related acquisitions, (A) not less than ten (10) Business Days (or such shorter period
as approved by the Agent in its sole discretion) prior to the closing of the proposed acquisition: (w) a description of the proposed
acquisition, in reasonable detail, which shall include, in any event, the identity of the seller(s) and to the extent equity interests
are acquired, the identity of the issuer of such equity (including name, jurisdiction of formation, location of the chief executive offices),
a general summary of the assets to be acquired and the liabilities and other obligations to be assumed, (x) to the extent available,
copies of all material contracts, broker/carrier agreements, subscription contracts, customer contracts, warehouse or bailee or similar
agreements, and, to the extent reasonably requested by Agent, other contracts of the Target, (y) a pro forma accounting of all accounts
receivable and inventory to be acquired, if any, identification of accounts receivable that will be proposed as Eligible Pre-Audit Accounts
or otherwise proposed to be included in the Borrowing Base, and (z) to the extent available, other due diligence (including, a quality
of earnings report, last audited and most recent unaudited financial statements); (B) not less than five (5) days prior to consummation
of such acquisition, notice of any material adverse changes, additions, exceptions or other material adverse modification to the information
or the structure, terms and conditions of such acquisition, each as previously provided to Agent, and (B) not less than five (5) Business
Days following the consummation of such acquisition, executed counterparts of the material agreements and any other agreements reasonably
required by Agent pursuant to which such acquisition was consummated and any schedules to such agreements, or

 

(ii)            with
respect to any acquisition or series of related acquisitions in connection with which no assets to be acquired will be proposed as
Eligible Pre-Audit Accounts or otherwise proposed be included in the calculation of the Borrowing Base, (a) not less than ten
(10) Business Days (or such shorter period as approved by the Agent in its reasonable discretion) prior to the closing of the
proposed acquisition: (A) a description of the proposed acquisition, in reasonable detail, which shall include, in any event,
the identity of the seller(s) and to the extent equity interests are acquired, the identity of the issuer of such equity
(including name, jurisdiction of formation, location of the chief executive offices), a general summary of the assets to be acquired
and the liabilities and other obligations to be assumed and (B) not less than five (5) Business Days following such
acquisition (or such longer period as approved by the Agent in its sole discretion), executed counterparts of the material
agreements pursuant to which such acquisition was consummated, any schedules to such agreements, and any other agreements reasonably
requested by Agent;

 

(b)            the
Credit Parties (including any new Subsidiary to the extent required by Section 4.11) shall execute and deliver the agreements, instruments
and other documents to the extent required by Section 4.11;

 

(c)            no
Default or Event of Default shall have occurred and be continuing, or would exist after giving pro forma effect to, the proposed acquisition;

 

(d)            all
transactions in connection with such acquisition shall be consummated, in all material respects, in accordance with applicable Laws;

 

    20 

     

    

 

(e)            the
assets acquired in such acquisition are for use in the same line of business as the Credit Parties are currently engaged or a line of
business reasonably related or ancillary thereto or reasonable extensions thereof;

 

(f)            such
acquisition shall not be hostile and, if applicable, shall have been approved by the board of directors (or other similar body) and/or
the stockholders or other equity holders of the Target;

 

(g)            no
Debt or Liens are assumed or created (other than Permitted Liens and Permitted Debt) in connection with such acquisitions; and

 

(h)            Agent
shall have received a certificate of a Responsible Officer of the Borrower Representative demonstrating, on a pro forma basis after giving
effect to the consummation of such acquisition, that the Liquidity is not less than the Trigger Amount and notice that there has been
no material changes, additions, exceptions or other modification to the information or the structure, terms and conditions of such acquisition,
each as previously provided to Agent, including notice of any material adverse change delivered pursuant to clause (a)(i)(B) of this
definition.

 

Notwithstanding the foregoing,
no Accounts acquired by a Credit Party in a Permitted Acquisition shall be included as Eligible Accounts or Eligible Unbilled Accounts
at the respective advance rate set forth therefor in the definition of “Borrowing Base” until a field examination / collateral
audit (and, if required by Agent, an Inventory appraisal) with respect thereto has been completed to the reasonable satisfaction of Agent,
including the establishment of reserves permitted under clause (e) of the definition of “Borrowing Base” required in
Agent’s Permitted Discretion unless such Accounts qualify as Eligible Pre-Audit Accounts. Credit Parties hereby acknowledge and
agree that field examinations / collateral audit and appraisals in connection with Permitted Acquisitions shall not count against the
limited number of field examinations or appraisals for which expense reimbursement may be sought.

 

“Permitted Asset
Dispositions” means the following Asset Dispositions:

 

(a)            dispositions
of Inventory in the Ordinary Course of Business;

 

(b)            dispositions
of assets not constituting ABL Priority Collateral in the Ordinary Course of Business that the applicable Borrower or Subsidiary determines
in good faith is no longer used or useful in the business of such Borrower and its Subsidiaries;

 

(c)            the
use of cash or cash equivalents and conversions of cash equivalents into cash or other cash equivalents, in each case, in a manner not
prohibited by the Financing Documents;

 

(d)            any
non-exclusive sub-license of Intellectual Property rights of a Credit Party to any other Credit Party in the Ordinary Course of Business
so long as all such licenses do not result in a legal transfer of title to the licensed property;

 

    21 

     

    

 

(e)            to
the extent constituting an Asset Disposition, the granting of Permitted Liens, the making of Permitted Investments, and the making of
Permitted Distributions;

 

(f)            the
leasing or subleasing of assets (other than Accounts) of any Borrower or its Subsidiaries in the Ordinary Course of Business;

 

(g)            dispositions
of assets among Credit Parties to the extent not otherwise prohibited pursuant to the terms of this Agreement;

 

(h)            any
involuntary loss, damage or destruction of property, so long as the fair market value of such property is less than $1,000,000 in the
aggregate in any fiscal year;

 

(i)            dispositions
of equipment or real property for fair market value to the extent that (i) such property is exchanged for credit against the purchase
price of similar replacement property or (ii) the proceeds of such disposition are promptly applied to the purchase price of such
replacement property; provided that, to the extent the property being transferred constitutes Collateral, such replacement property
shall constitute Collateral;

 

(j)            the
sale or discount, in each case, without recourse, of accounts receivable (other than Eligible Accounts, Eligible Pre Audit Accounts and
Eligible Unbilled Accounts) arising in the Ordinary Course of Business, but only in connection with the compromise or collection thereof,
in an amount not to exceed $250,000 in any year and $1,000,000 over the term of this Agreement; provided, that the proceeds thereof
shall be immediately deposited in the Lockbox;

 

(k)            dispositions
approved by Agent in writing (such approval not to be unreasonably withheld);

 

(l)            abandonment,
cancellation or disposition of any Intellectual Property of any Credit Party which, in such Credit Party’s reasonable business judgment
is no longer material in the conduct of the Credit Parties’ business, taken as a whole; and

 

(m)            other
dispositions of property for fair market value in a single transaction or a series of related transactions with an aggregate value not
to exceed the then-applicable Payment Condition Toggle Amount in the aggregate in any fiscal year.

 

“Permitted Contest”
means, with respect to any tax obligation or other obligation allegedly or potentially owing from any Credit Party or its Subsidiary to
any governmental tax authority or other third party, a contest maintained in good faith by appropriate proceedings promptly instituted
and diligently conducted and with respect to which such reserve or other appropriate provision, if any, as shall be required in conformity
with GAAP shall have been made on the books and records and financial statements of the applicable Credit Party(ies); provided,
however, that (a) compliance with the obligation that is the subject of such contest is effectively stayed during such challenge;
(b) Credit Parties’ and their Subsidiaries’ title to, and its right to use, the Collateral is not adversely affected
thereby and Agent’s Lien and priority on the Collateral are not adversely affected, altered or impaired thereby; (c) the Collateral
or any part thereof or any interest therein shall not be in any danger of being sold, forfeited or lost by reason of such contest by Credit
Parties or their Subsidiaries; and (d) upon a final determination of such contest, Credit Parties and their Subsidiaries shall timely
comply with the requirements thereof.

 

    22 

     

    

 

“Permitted Contingent
Obligations” means:

 

(a)            Contingent
Obligations arising in respect of the Debt under the Financing Documents;

 

(b)            Contingent
Obligations resulting from endorsements for collection or deposit in the Ordinary Course of Business;

 

(c)            Contingent
Obligations outstanding on the Closing Date and set forth on Schedule 5.1 (and any Permitted Refinancings of the indebtedness
underlying such Contingent Obligations);

 

(d)            Contingent
Obligations incurred in the Ordinary Course of Business with respect to surety and appeal bonds, performance bonds and other similar obligations;

 

(e)            Contingent
Obligations arising under indemnity agreements with title insurers to cause such title insurers to issue to Agent mortgagee title insurance
policies;

 

(f)            Contingent
Obligations arising with respect to customary indemnification obligations in favor of purchasers in connection with dispositions of personal
property assets permitted under Section 5.6 and incurred in connection with the consummation of any Permitted Acquisition;

 

(g)            so
long as there exists no Event of Default both immediately before and immediately after giving effect to any such transaction, Contingent
Obligations existing or arising under any Swap Contract, provided, however, that such obligations are (or were) entered into by
Credit Party or Subsidiary in the Ordinary Course of Business for the purpose of directly mitigating risks associated with liabilities,
commitments, investments, assets, or property held or reasonably anticipated by such Person and not for purposes of speculation;

 

(h)            Contingent
Obligations arising under unsecured guarantees of Debt of any Credit Party or any of its Subsidiaries to the extent that the Person that
is obligated under such guaranty could have incurred such underlying Debt;

 

(i)            indemnity
obligations under customer contracts that are entered into in the Ordinary Course of Business;

 

(j)            indemnity
obligations provided for the benefit of directors (or comparable managers) or officers of a Credit Party or one of its Subsidiaries so
long as it has been approved by such Credit Party’s or such Subsidiary’s board of directors (or comparable governing body)
in accordance with applicable law; and

 

(k)            other
Contingent Obligations not permitted by clauses (a) through (j) above, not to exceed the then-applicable Payment Condition Toggle
Amount at any time outstanding.

 

    23 

     

    

 

“Permitted Debt”
means:

 

(a)            each
Credit Party’s and its Subsidiaries’ Debt to Agent and each Lender under this Agreement and the other Financing Documents;

 

(b)            Debt
incurred as a result of endorsing negotiable instruments received in the Ordinary Course of Business;

 

(c)            purchase
money Debt and capital leases not to exceed the then-applicable Payment Condition Toggle Amount in the aggregate at any time (whether
in the form of a loan or a lease) used solely to acquire equipment, motor vehicles, or other capital assets used in the Ordinary Course
of Business and secured only by such equipment, motor vehicles or capital assets;

 

(d)            Debt
existing on the date of this Agreement and described on Schedule 5.1 (and any Permitted Refinancings of such Debt);

 

(e)            trade
accounts payable arising in the Ordinary Course of Business;

 

(f)            to
the extent constituting Debt (without duplication), Permitted Contingent Obligations;

 

(g)            Permitted
Senior Term Debt;

 

(h)            Customary
unsecured earnout obligations and other similar contingent purchase price obligations incurred in connection with a Permitted Acquisition;

 

(i)            Subordinated
Debt;

 

(j)            so
long as there exists no Event of Default both immediately before and immediately after giving effect to any such transaction, Debt existing
or arising under any Swap Contract, provided, however, that such obligations are (or were) entered into by Borrower or an
Affiliate in the Ordinary Course of Business for the purpose of directly mitigating risks associated with liabilities, commitments, investments,
assets, or property held or reasonably anticipated by such Person and not for purposes of speculation;

 

    24 

     

    

 

(k)            Debt
in the form of insurance premiums financed through the applicable insurance company;

 

(l)            Debt
incurred in the Ordinary Course of Business in respect of (i) credit cards, credit card processing services, debit cards, stored
value cards, commercial cards (including so-called “purchase cards”, “procurement cards” or “p-cards”),
(ii) cash management services, or (iii) in respect of netting services, overdraft protection, and other like services; provided,
that such Debt described in the foregoing clauses (i)-(iii) shall not exceed $1,000,000 in the aggregate at any time;

 

(m)            unsecured
Debt owing to employees, former employees, former officers, directors, or former directors, so long as (i) no Default or Event of
Default has occurred and is continuing or would result from the incurrence thereof and (ii) such Debt is subordinated in right of
payment to the Obligations on terms and conditions reasonably acceptable to Agent;

 

(n)            [Reserved];

 

(o)            intercompany
loans made (i)by a Credit Party or any Subsidiary of a Credit Party that is not a Credit Party to a Credit Party, provided such
loans shall be subordinated upon terms reasonably satisfactory to Agent and (ii) by a Credit Party to another Credit Party;

 

(p)            [Reserved];

 

(q)            accrual
of interest, accretion or amortization of original issue discount, or the payment of interest in kind, in each case, on Debt that otherwise
constitutes Permitted Debt;

 

(r)            Permitted
Refinancings of any items of Permitted Debt (a) through (q) above; and

 

(s)            any
other unsecured Debt incurred by any Credit Party or any of its Subsidiaries in an aggregate outstanding amount not to exceed the then-applicable
Payment Condition Toggle Amount.

 

“Permitted Discretion”
means a determination made in the exercise of reasonable (from the perspective of a secured asset-based lender) business judgment.

 

“Permitted Distributions”
means the following Restricted Distributions:

 

(a)            dividends
by any Subsidiary of any Credit Party to its direct parent or Holdings;

 

(b)            dividends
payable solely in common stock;

 

(c)            de
minimis cash payments in lieu of the issuance of fractional shares;

 

    25 

     

    

 

(d)            cashless
conversion of any convertible securities of any Credit Party or its Subsidiaries into any other securities pursuant to the terms of such
convertible securities or otherwise in exchange thereof or any cashless exercise of any exercisable securities;

 

(e)            repurchases
of stock of investors, officers, employees, directors or consultants pursuant to stock purchase agreements or other agreements in respect
of TFX’s stock (at any time prior to a Permitted Reorganization) or Holdings’ stock (at any time following a Permitted Reorganization),
so long as an Event of Default does not exist at the time of such repurchase and would not exist after giving effect to such repurchase,
provided, however, that such repurchase does not exceed the sum of (x) $5,000,000 in the aggregate per fiscal year plus (y) to
the extent that any repurchase is paid for with the proceeds of any sale or issuance of TFX’s stock (other than Disqualified Stock)
prior to a Permitted Reorganization or Holdings’ stock (other than Disqualified Stock) on and after a Permitted Reorganization,
an aggregate amount not to exceed forty percent (40.0%) of the total net cash proceeds received by the Credit Parties from any such sale
or issuance;

 

(f)            purchases
of stock that are deemed to occur in connection with an exercise of options or warrants or other rights to any other equity interests;

 

(g)            exchanges,
assumptions or like transactions of equity of TFX for the comparable equity of Holdings in connection with a Permitted Reorganization;

 

(h)            any
Restricted Distribution so long as the Liquidity Payment Conditions are satisfied at the time of such Restricted Distribution; and

 

(i)            solely
with respect to each taxable year the applicable Credit Party is treated as a partnership or disregarded entity for federal income tax
purposes, dividends or distributions paid to such Credit Party’s shareholder(s) or member(s) solely to the extent of the
amount, and at the times, necessary for such shareholder(s) or member(s) to pay its or their respective federal (and, if applicable,
state) income taxes arising from and due on such shareholder(s)’ or member(s)’ respective allocable shares of such Borrower’s
taxable income for the taxable period that are imposed directly to such shareholder(s) or member(s) under applicable law (taking
into account for the purpose of determining allocable taxable income for such periods, all applicable deductions and losses for the current
taxable year (including the deduction under Section 199A of the Code) and any prior taxable periods to the extent not previously
taken into account hereunder and all amortization and depreciation deductions as the result of basis adjustments under Sections 732, 734,
and 743 of the Code and disregarding any income amounts includible to a member under Section 707(c) or 736(a) of the Code
as guaranteed payments for services and also taking into in determining the applicable income tax liability of any shareholder or member
any special tax rate based on the character or type of income and any applicable income tax credits available under applicable law to
a member or shareholder from the operations of such Borrower); provided, however, that no Event of Default shall exist, and no
act, event or condition shall have occurred or exist which with notice or the lapse of time, or both, would constitute an Event of Default.

 

“Permitted Investments”
means:

 

(a)            Investments
shown on Schedule 5.7 and existing on the Closing Date;

 

(b)            the
holding of cash and cash equivalents to the extent constituting an Investment;

 

(c)            Investments
consisting of the endorsement of negotiable instruments for deposit or collection or similar transactions in the Ordinary Course of Business;

 

    26 

     

    

 

(d)            Investments
consisting of (i) travel advances and employee relocation loans and other employee loans and advances in the Ordinary Course of Business,
and (ii) loans to employees, officers or directors relating to the purchase of equity securities of Credit Parties or their Subsidiaries
pursuant to employee stock purchase plans or agreements approved by such Credit Party’s Board of Directors (or other governing body);

 

(e)            Investments
(including debt obligations) received in connection with the bankruptcy or reorganization of customers or suppliers and in settlement
of delinquent obligations of, and other disputes with, customers or suppliers arising in the Ordinary Course of Business;

 

(f)            Investments
consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and suppliers who are not Affiliates,
in the Ordinary Course of Business, provided, however, that this subpart (f) shall not apply to Investments of Credit
Parties in any Subsidiary;

 

(g)            Investments
consisting of (1) Deposit Accounts or Securities Accounts in which Agent has received a Deposit Account Control Agreement or Securities
Account Control Agreement and (2) Excluded Accounts;

 

(h)            Investments
by any Credit Party in (1) any other Borrower, or (2) any Guarantor to the extent such Guarantor has granted a Lien to Agent
in all or substantially all of its property of the type described in Schedule 9.1 hereto and otherwise made in compliance with
Section 4.11(d);

 

(i)            Investments
by (1) any Subsidiary that is not a Credit Party in any other Subsidiary that is not a Credit Party; and (2) Investments made
by any Credit Party in any Subsidiary of such Credit Party that is not a Credit Party, so long as no Default or Event of Default has occurred
and is continuing or would result therefrom, in an amount not to exceed the Payment Condition Toggle Amount at any time outstanding;

 

(j)            Permitted
Acquisitions;

 

(k)            Investments
arising in connection with the Permitted Reorganization;

 

(l)            Investments
consisting of advances made in connection with purchases of goods or services in the Ordinary Course of Business;

 

(m)            Investments
accepted in connection with asset dispositions permitted hereunder;

 

(n)            Investments
held by a Target acquired in a Permitted Acquisition to the extent that such Investments were not made in contemplation of or in connection
with such Permitted Acquisition and were in existence on the date of such Permitted Acquisition;

 

(o)            so
long as no Event of Default exists at the time of such Investments or after giving effect to such Investment, other Investments in an
amount not to exceed the Payment Condition Toggle Amount in the aggregate outstanding at any time; and

 

(p)            other
Investments, so long as the Liquidity Payment Conditions are satisfied.

 

“Permitted Liens”
means:

 

(a)            deposits
or pledges of cash to secure obligations under workmen’s compensation, social security or similar laws, or under unemployment insurance
(but excluding Liens arising under ERISA or, with respect to any Pension Plan or Multiemployer Plan, the Code) pertaining to a Credit
Party’s or its Subsidiary’s employees, if any;

 

    27 

     

    

 

(b)            deposits
or pledges of cash to secure bids, tenders, contracts (other than contracts for the payment of money or the deferred purchase price of
property or services), leases, statutory obligations, surety and appeal bonds and other obligations of like nature arising in the Ordinary
Course of Business;

 

(c)            carrier’s,
warehousemen’s, mechanic’s, workmen’s, materialmen’s or other like Liens on Collateral, other than any Collateral
which is part of the Borrowing Base, arising in the Ordinary Course of Business with respect to obligations which are not due, or which
are being contested pursuant to a Permitted Contest;

 

(d)            Liens
on Collateral, other than Accounts, for taxes or other governmental charges not at the time delinquent or thereafter payable without penalty
or the subject of a Permitted Contest;

 

(e)            attachments,
appeal bonds, judgments and other similar Liens on Collateral other than Accounts, arising in connection with court proceedings that do
not constitute an Event of Default; provided, however, that the execution or other enforcement of such Liens is effectively
stayed and the claims secured thereby are the subject of a Permitted Contest;

 

(f)            Liens
and encumbrances in favor of Agent under the Financing Documents;

 

(g)            Liens
on Collateral, other than Collateral, which is part of the Borrowing Base, existing on the date hereof and set forth on Schedule 5.2;

 

(h)            any
Lien on any equipment securing Debt permitted under subpart (c) of the definition of Permitted Debt, provided, however,
that such Lien attaches concurrently with or within sixty (60) days after the acquisition thereof;

 

(i)            purported
Liens evidenced by the filing of precautionary UCC financing statements relating solely to operating leases or consignments of personal
property entered into the Ordinary Course of Business;

 

(j)            easements,
covenants, conditions, rights of way, restrictions, encroachments, and other minor defects or irregularities in title as to real property
owned or leased by a Credit Party, in each case which do not and will not interfere in any material respect with the ordinary conduct
of the business of the applicable Person;

 

(k)            Liens
on segregated Deposit Accounts securing letters of credit issued by Silicon Valley Bank outstanding as of the Closing Date, each as set
forth on Schedule 1.1, which funds on deposit therein shall not exceed, in the aggregate, 105% of the sum of face values of all such letters
of credit.

 

(l)            Subject
to the terms of the applicable intercreditor agreement, Liens securing Permitted Senior Term Debt;

 

    28 

     

    

 

(m)            Liens
(including the right of setoff) in favor of a bank or other depository institution in connection with the establishment of depository
relations not given in connection with the issuance of Debt, but solely to the extent that such Liens are limited to specific deposit
accounts and amounts therein and in any event, do not secure Debt for borrowed money or any other financing arrangement;

 

(n)            Liens
that are replacements of Permitted Liens to the extent that the original Debt is the subject of a Permitted Refinancing to such Debt and
so long as the replacement Liens only encumber those assets that secured the original Debt;

 

(o)            [Reserved];

 

(p)            Liens
granted in the Ordinary Course of Business on the unearned portion of insurance premiums securing the financing of insurance premiums
to the extent the financing is permitted under the definition of Permitted Debt; provided, that the aggregate principal amount
secured thereby does not exceed insurance premiums to be paid by the Credit Parties for one (1) year;

 

(q)            [Reserved];

 

(r)            leases
or subleases of real property granted in the Ordinary Course of Business, and leases, subleases, nonexclusive licenses or sublicenses
of personal property (other than Intellectual Property) granted in the Ordinary Course of Business;

 

(s)            non-exclusive
licenses of Intellectual Property granted to third parties in the Ordinary Course of Business;

 

(t)            any
interest or title of a licensor, lessor or sublicensor under any operating lease entered into in the Ordinary Course of Business and covering
only the assets so leased; and

 

    29 

     

    

 

(u)            other
Liens (on assets other than Accounts) which do not secure Debt for borrowed money or letters of credit and as to which the aggregate amount
of the obligations secured thereby does not exceed $2,500,000.

 

“Permitted
Modifications” means (a) such amendments or other modifications to a Credit Party’s or Subsidiary’s Organizational
Documents as are required under this Agreement or by applicable Law, (b) such amendments or modifications to a Credit Party’s
or Subsidiary’s Organizational Documents (other than those involving a change in the name of a Credit Party or Subsidiary or involving
a reorganization of a Credit Party or Subsidiary under the laws of a different jurisdiction) that would not adversely affect the rights
and interests of Agent or Lenders, (c) such amendments or other modifications to a Credit Party’s or Subsidiary’s Organizational
Documents as are required to effectuate the (i) Permitted Reorganization, (ii) any equity or convertible equity financing, (iii) a
Qualified IPO or (iv) the Permitted SPAC Transaction.

 

“Permitted Refinancings”
means any refinancings, extensions, increases or amendments to Permitted Debt; provided, that (i) the aggregate principal
amount of such Debt does not exceed the principal amount of such Debt being refinanced plus the amount of any interest, premiums or penalties
actually due and required to be paid plus reasonable and documented fees and expenses associated therewith and actually incurred, which,
in the aggregate, shall not exceed six percent (6%) of the principal amount of the Debt being refinanced, (ii) any Liens securing
such Debt are not extended to any additional property of any Credit Party, (iii) no Credit Party that is not originally obligated
(or required to become obligated) with respect to repayment of such Debt is required to become obligated with respect thereto, (iv) such
refinancing, extension, increase or amendment does not result in a shortening of the average weighted maturity of such Debt being refinanced,
(v) the terms of any such refinancing, extension, increase or amendment (other than pricing, premiums and optional prepayment or
optional redemption provisions) are not materially less favorable to the obligor thereunder than the original terms of such Debt being
refinanced, taken as a whole, and (vi) if the Debt being refinanced was subordinated in right of payment to the Obligations, then
the terms and conditions of the refinanced, extended, increased or amended Debt must include subordination terms and conditions that are
at least as favorable to Agent and Lenders as those that were applicable such Debt being refinanced.

 

“Permitted Reorganization”
has the meaning set forth on Schedule 7.4.

 

“Permitted Senior
Term Debt “ means a senior secured term loan credit facility that is either (a) provided by Agent and Lenders, it being
acknowledged and agreed by Credit Parties that Agent and Lenders shall have no obligation whatsoever to provide any Permitted Senior Term
Debt but agree to review and evaluate any reasonable request made by Credit Parties therefor or (b) (i) that is incurred at
a time during which no Default or Event of Default has occurred and is continuing, (ii) the terms of which are subject to an intercreditor
agreement, among Borrowers, Agent and the term lenders thereunder (or a duly authorized agent acting on behalf of such term loan lenders),
in form and substance reasonably satisfactory to Agent, pursuant to which, among other things, Agent will agree to subordinate its Liens
on the Collateral other than ABL Priority Collateral to the Liens in favor of the agent and lenders under such term loan credit facility
and the agent and lenders under such term loan credit facility will subordinate their Liens on the ABL Priority Collateral to the Liens
in favor of the Agent hereunder, and (iii) the terms of which do not conflict with this Agreement and the other Financing Documents
and that contains covenant levels that are reasonably acceptable to Agent (such acceptance not to be unreasonably withheld, delayed or
conditioned), where “ABL Priority Collateral” will include, among other things, all accounts, receivables, security
accounts, cash, cash equivalents, money and deposit accounts, Inventory, Documents, Investment Property, Letter of Credit Rights,
Supporting Obligations and all books and other Records, all collateral security and guarantees, proceeds, products, substitutions and
to the extent needed to realize on such ABL Priority Collateral, all relevant rights in the intellectual property, in each case, of the
Credit Parties.

 

    30 

     

    

 

“Permitted SPAC Transaction”
means a merger transaction between TFX (prior to the Permitted Reorganization) or Holdings (on and after the Permitted Reorganization)
or another Credit Party that holds, directly or indirectly, 100% of the equity interests of Holdings and a publicly traded “special
purpose acquisition corporation” or “blank check company” (as defined under the Securities Exchange Act of 1934, as
amended, the “SPAC”) at least a portion of the consideration for which will be securities issued by the SPAC; provided,
that (i) the equity interests of the surviving entity is registered with the SEC, and/or is publicly traded on and/or registered
with a public securities exchange in the United States, (ii) upon consummation of the Permitted SPAC Transaction, Liquidity shall
be not less than Liquidity immediately prior to the consummation of such transaction and, (iii) the value of the Collateral upon
consummation of the Permitted SPAC Transaction shall be greater than or equal to the value of the Collateral immediately prior to the
consummation of such Permitted SPAC Transaction, including the pledge of the equity of the Borrower.

 

“Person”
means any natural person, corporation, limited liability company, professional association, limited partnership, general partnership,
joint stock company, joint venture, association, company, trust, bank, trust company, land trust, business trust or other organization,
whether or not a legal entity, and any Governmental Authority.

 

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

 

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

 

(b)            as
of the date of any such transaction or payment, (i) Credit Parties shall have received unrestricted net cash proceeds of not less
than $100,000,000 in the aggregate from all equity financings after the Closing Date, including a Permitted SPAC Transaction, a Qualified
IPO or other equity raise, in each case, consummated after the Closing Date and (ii) either (A) Liquidity for the immediately
preceding thirty (30) consecutive day period shall have been greater than, and after giving effect to the subject transaction or payment,
on a pro forma basis, shall be greater than, two times the Revolving Loan Commitment as of such date or (B) the market capitalization
of the Credit Parties shall be greater than $250,000,000 in the aggregate; and

 

(c)            Agent
shall have received not less than ten (10) Business Days’ prior written notice of the proposed payment or transaction (or such
shorter period as determined by Agent) of $5,000,000 or more and such information with respect thereto as Agent may reasonably request,
including (i) the proposed date and amount of the payment or transaction, (ii) all documentation and other information required
by regulatory authorities under applicable under applicable “know your customer” and anti-money laundering rules and
regulations, including, without limitation, the USA PATRIOT Act, with respect to the Credit Parties in each case to the extent requested
by the Administrative Agent, and (iii) a general description of the transaction or event giving rise to such payment and the proposed
date of the consummation of such payment or transaction.

 

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

 

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

 

(b)            Agent
shall have received such information with respect thereto as Agent may reasonably request, including (i) the proposed date and amount
of the payment or transaction, (ii) all documentation and other information required by regulatory authorities under applicable under
applicable “know your customer” and anti-money laundering rules and regulations, including, without limitation, the USA
PATRIOT Act, with respect to the Credit Parties in each case to the extent requested by the Administrative Agent, and (iii) a general
description of the transaction or event giving rise to such payment and the proposed date of the consummation of such payment or transaction.

 

    31 

     

    

 

“Pro Rata Share”
means (a)  with respect to a Lender’s obligation to make Revolving Loans, such Lender’s right to receive the unused line
fee described in Section 2.2(b), such Lender’s obligation to purchase interests and participations in Letters of Credit and
related Support Agreement liabilities and obligations, and such Lender’s obligation to share in Letter of Credit Liabilities and
to receive the related Letter of Credit fee described in Section 2.5(b), the Revolving Loan Commitment Percentage of such Lender,
(b) with respect to a Lender’s right to receive payments of principal and interest with respect to Revolving Loans, such Lender’s
Revolving Loan Exposure with respect thereto; and (c) for all other purposes (including, without limitation, the indemnification
obligations arising under Section 11.6) with respect to any Lender, the percentage obtained by dividing (i) the sum of
the Revolving Loan Commitment Amount of such Lender (or, in the event the Revolving Loan Commitment shall have been terminated, such Lender’s
then existing Revolving Loan Outstandings), by (ii) the aggregate Revolving Loan Commitment (or, in the event the Revolving
Loan Commitment shall have been terminated, the then existing Revolving Loan Outstandings) of all Lenders.

 

“Protected CFC”
means any “controlled foreign corporation” within the meaning of Section 957 of the Code all of whose United States shareholders
as defined in Section 951(b) of the Code are treated as domestic “C-corporations” for federal income tax purposes
that are eligible for the deduction under Section 245A of the Code with respect to dividends from such controlled foreign corporation.

 

“Qualified
IPO” means the issuance and sale by TFX (prior to the Permitted Reorganization) or by Holdings (on and after the Permitted Reorganization)
of its common stock in a public offering (other than a public offering pursuant to a registration statement on Form S-8) pursuant
to an effective registration statement (whether alone or in connection with a secondary public offering) filed with the SEC in accordance
with the Securities Act of 1933, as amended, following which the common stock of TFX or Holdings, as applicable, is listed on the New
York Stock Exchange or the Nasdaq Stock Market and in respect of which Credit Parties have delivered evidence satisfactory to Agent that
Credit Parties have received unrestricted net cash proceeds of not less than $50,000,000 (subject to no clawback, escrow or other terms
limiting TFX’s or Holdings’, as applicable ability to freely use such proceeds).

 

“Register”
has the meaning set forth in Section 11.17(a)(iii).

 

“Reimbursement
Obligations” means, at any date, the obligations of each Borrower then outstanding to reimburse (a) Agent for payments
made by Agent under a Support Agreement, and/or (b) any LC Issuer, for payments made by such LC Issuer under a Lender Letter of Credit.

 

“Replacement Lender”
has the meaning set forth in Section 11.17(c).

 

“Required Lenders”
means at any time Lenders holding (a) fifty-one percent (51%) or more of the sum of the Revolving Loan Commitment, or (b) if
the Revolving Loan Commitment has been terminated, fifty-one percent (51%) or more of the sum of (x) the then aggregate outstanding
principal balance of the Loans plus (y) the then aggregate amount of Letter of Credit Liabilities; provided, that the
Revolving Loan Commitment Amounts of any Defaulted Lender shall be disregarded in the determination of the Required Lenders.

 

“Responsible Officer”
means any of the Chief Executive Officer, Chief Financial Officer, Controller and General Counsel.

 

“Restricted
Distribution” means as to any Person (a) any dividend or other distribution (whether in cash, securities or other
property) on any equity interest in such Person (except those payable solely in its equity interests of the same class),
(b) any payment by such Person on account of (i) the purchase, redemption, retirement, defeasance, surrender,
cancellation, termination or acquisition of any equity interests in such Person or any claim respecting the purchase or sale of any
equity interest in such Person, or (ii) any option, warrant or other right to acquire any equity interests in such Person,
(c) any management fees, salaries or other fees or compensation to any Person holding an equity interest in a Credit Party or a
Subsidiary of a Credit Party (other than (i) payments of salaries or other compensation to individuals,
(ii) directors’ or consultants’ fees, (iii) payments in respect of directors’ and officers’
indemnity rights or liability insurance coverage, and (iv) advances and reimbursements to employees, consultants, or directors,
all in the Ordinary Course of Business), an Affiliate of a Credit Party or an Affiliate of any Subsidiary of a Credit Party, or
(d) repayments of or debt service on loans or other indebtedness held by any Person holding an equity interest in a Credit
Party or a Subsidiary of a Credit Party, an Affiliate of a Credit Party or an Affiliate of any Subsidiary of a Credit Party unless
permitted under and made pursuant to a Subordination Agreement applicable to such loans or other indebtedness.

 

    32 

     

    

 

“Revolving Lender”
means each Lender having a Revolving Loan Commitment Amount in excess of Zero Dollars ($0) (or, in the event the Revolving Loan Commitment
shall have been terminated at any time, each Lender at such time having Revolving Loan Outstandings in excess of Zero Dollars ($0)).

 

“Revolving Loan Availability”
means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

 

“Revolving Loan Borrowing”
means a borrowing of a Revolving Loan.

 

“Revolving Loan Commitment”
means, as of any date of determination, the aggregate Revolving Loan Commitment Amounts of all Lenders as of such date.

 

“Revolving Loan Commitment
Amount” means, as to any Lender, the dollar amount set forth opposite such Lender’s name on the Commitment Annex under
the column “Revolving Loan Commitment Amount” (if such Lender’s name is not so set forth thereon, then the dollar amount
on the Commitment Annex for the Revolving Loan Commitment Amount for such Lender shall be deemed to be $0), as such amount may be adjusted
from time to time by (a) any amounts assigned to an Eligible Assignee (with respect to such Lender’s portion of Revolving Loans
outstanding and its commitment to make Revolving Loans) pursuant to the terms of any and all effective Assignment Agreements to which
such Lender is a party, and (b) any Additional Tranche(s) activated by Borrowers. For the avoidance of doubt, the aggregate
Revolving Loan Commitment Amount of all Lenders on the Closing Date shall be $50,000,000 and if the Additional Tranche is fully activated
by Borrowers pursuant to the terms of the Agreement such amount shall increase to $75,000,000.

 

“Revolving Loan Commitment
Percentage” means, as to any Lender, (a) on the Closing Date, the percentage set forth opposite such Lender’s name
on the Commitment Annex under the column “Revolving Loan Commitment Percentage” (if such Lender’s name is not so set
forth thereon, then, on the Closing Date, such percentage for such Lender shall be deemed to be zero), and (b) on any date following
the Closing Date, the percentage equal to the Revolving Loan Commitment Amount of such Lender on such date divided by the Revolving
Loan Commitment on such date.

 

“Revolving Loan Exposure”
means, with respect to any Lender on any date of determination, the percentage equal to the amount of such Lender’s Revolving Loan
Outstandings on such date divided by the aggregate Revolving Loan Outstandings of all Lenders on such date.

 

“Revolving Loan Limit”
means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

 

“Revolving Loan Outstandings”
means, at any time of calculation, (a)  the sum of the then existing aggregate outstanding principal amount of Revolving Loans plus
the then existing Letter of Credit Liabilities, and (b) when used with reference to any single Lender, the sum of the then existing
outstanding principal amount of Revolving Loans advanced by such Lender plus the then existing Letter of Credit Liabilities for
the account of such Lender.

 

“Revolving Loans”
has the meaning set forth in Section 2.1(b).

 

“SEC” means
the United States Securities and Exchange Commission.

 

“Securities Account”
means a “securities account” (as defined in Article 9 of the UCC), an investment account, or other account in which investment
property or securities are held or invested for credit to or for the benefit of any Credit Party.

 

    33 

     

    

 

“Securities Account
Control Agreement” means an agreement, in form and substance reasonably satisfactory to Agent, among Agent, any applicable Credit
Party and each securities intermediary in which such Credit Party maintains a Securities Account pursuant to which Agent shall obtain
 “control” (as defined in Article 9 of the UCC) over such Securities Account.

 

“Security Document”
means this Agreement, any pledge agreement entered into pursuant to paragraph 2 of Schedule 7.4 and any other agreement, document or instrument
executed concurrently herewith or at any time hereafter pursuant to which one or more Credit Parties or any other Person either (a) Guarantees
payment or performance of all or any portion of the Obligations, and/or (b) provides, as security for all or any portion of the Obligations,
a Lien on any of its assets in favor of Agent for its own benefit and the benefit of the Lenders, as any or all of the same may be amended,
supplemented, restated or otherwise modified from time to time.

 

“Settlement Service”
has the meaning set forth in Section 11.17(a)(v).

 

“Solvent”
means, with respect to any Person, that such Person (a) owns and will own assets the fair saleable value of which are (i) greater
than the total amount of its liabilities (including Contingent Obligations), and (ii) greater than the amount that will be required
to pay the probable liabilities of its then existing debts as they become absolute and matured considering all financing alternatives
and potential asset sales reasonably available to it; (b) has capital that is not unreasonably small in relation to its business
as presently conducted or after giving effect to any contemplated transaction; and (c) does not intend to incur and does not believe
that it will incur debts beyond its ability to pay such debts as they become due.

 

“Subordinated Debt”
means any Debt of Credit Parties incurred pursuant to the terms of the Subordinated Debt Documents and with the prior written consent
of Agent, all of which documents must be in form and substance reasonably acceptable to Agent in its sole discretion. As of the Closing
Date, there is no Subordinated Debt.

 

“Subordinated Debt
Documents” means any documents evidencing and/or securing Debt governed by a Subordination Agreement, all of which documents
must be in form and substance reasonably acceptable to Agent in its sole discretion. As of the Closing Date, there are no Subordinated
Debt Documents.

 

“Subordination Agreement”
means any agreement between Agent and another creditor of Credit Parties, as the same may be amended, supplemented, restated or otherwise
modified from time to time in accordance with the terms thereof, pursuant to which the Debt owing from any Credit Party(ies) and/or the
Liens securing such Debt granted by any Credit Party(ies) to such creditor are subordinated in any way to the Obligations and the Liens
created under the Security Documents, the terms and provisions of such Subordination Agreements to have been agreed to by and be reasonably
acceptable to Agent in the exercise of its sole discretion.

 

    34 

     

    

 

 

“Subsidiary”
means, with respect to any Person, (a) any corporation (or any foreign equivalent thereof) of which an aggregate of more than fifty
percent (50%) of the outstanding capital stock having ordinary voting power to elect a majority of the board of directors of such corporation
(irrespective of whether, at the time, capital stock of any other class or classes of such corporation shall have or might have voting
power by reason of the happening of any contingency) is at the time, directly or indirectly, owned legally or beneficially by such Person
or one or more Subsidiaries of such Person, or with respect to which any such Person has the right to vote or designate the vote of more
than fifty percent (50%) of such capital stock whether by proxy, agreement, operation of law or otherwise, and (b) any partnership
or limited liability company (or any foreign equivalent thereof) in which such Person and/or one or more Subsidiaries of such Person shall
have an interest (whether in the form of voting or participation in profits or capital contribution) of more than fifty percent (50%)
or of which any such Person is a general partner or may exercise the powers of a general partner. Unless the context otherwise requires,
each reference to a Subsidiary shall be a reference to a Subsidiary of a Credit Party.

 

“Support
Agreement” has the meaning set forth in Section 2.5(a).

 

“Supported
Letter of Credit” means a Letter of Credit issued by an LC Issuer in reliance on one or more Support Agreements.

 

“Swap Contract”
means any “swap agreement”, as defined in Section 101 of the Bankruptcy Code, that is obtained by Borrower to provide
protection against fluctuations in interest or currency exchange rates, but only if Agent provides its prior written consent to the entry
into such “swap agreement”.

 

“Target”
means any Person or business unit or asset group of any Person acquired or proposed to be acquired in an acquisition; provided,
that, no Target may be a corporate Affiliate or Subsidiary of a Credit Party.

 

“Taxes”
means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees
or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.

 

“Termination Date”
means the earliest to occur of (a) the Commitment Expiry Date, (b) any date on which the maturity of the Loans becomes accelerated
pursuant to Section 10.2, or (c) the termination date stated in any notice of termination of this Agreement provided by Borrowers
in accordance with Section 2.12.

 

“TFX”
has the meaning set forth in the introductory paragraph of this Agreement.

 

“Trigger
Amount” means an amount equal to seven and one half percent (7.5%) of the Revolving Loan Commitment.

 

“UCC” means
the Uniform Commercial Code of the State of New York or of any other state the laws of which are required to be applied in connection
with the perfection of security interests in any Collateral.

 

“U.S.
Tax Compliance Certificate” has the meaning set forth in Section 2.8(c)(i).

 

“United States”
means the United States of America.

 

“Withholding
Agent” means each Credit Party or Agent.

 

“Write-Down and Conversion
Powers” means, 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.

 

    35 

     

    

 

Section 1.2
            Accounting Terms and Determinations. Unless otherwise specified herein, all accounting
terms used herein shall be interpreted, all accounting determinations hereunder (including, without limitation, determinations made
pursuant to the exhibits hereto) shall be made, and all financial statements required to be delivered hereunder shall be
prepared on a consolidated basis in accordance with GAAP applied on a basis consistent with the most recent audited consolidated
financial statements of each Borrower and its Consolidated Subsidiaries delivered to Agent and each of the Lenders on or prior to
the Closing Date. If at any time any change in GAAP would affect the computation of any financial ratio or financial requirement set
forth in any Financing Document, and either Borrowers or the Required Lenders shall so request, the Agent, the Lenders and Borrowers
shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in
GAAP (subject to the approval of the Required Lenders, not to be unreasonably withheld, delayed or conditioned, and any delay of
more than twenty (20) days being deemed unreasonable); provided, however, that until so amended, (a) such ratio
or requirement shall continue to be computed in accordance with GAAP prior to such change therein and (b) Borrowers shall
provide to the Agent and the Lenders financial statements and other documents required under this Agreement which include a
reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP.
Notwithstanding any other provision contained herein, all terms of an accounting or financial nature used herein shall be construed,
and all computations of amounts and ratios referred to herein shall be made, without giving effect to any election under Statement
of Financial Accounting Standards 159 (or any other Financial Accounting Standard having a similar result or effect) to value any
Debt or other liabilities of any Credit Party or any Subsidiary of any Credit Party at “fair value”, as defined therein. Furthermore,
notwithstanding any such change in GAAP that after the Closing Date would require lease obligations that would be treated as
operating leases as of the date they are entered into to be classified and accounted for as capital leases or otherwise reflected on
the consolidated balance sheet of Borrower and its Subsidiaries, for the purposes of determining compliance with any covenant or
other obligation contained herein, such obligations shall be treated as operating leases during the term of this
Agreement.

 

Section 1.3
            Other Definitional and Interpretive Provisions. References in this Agreement to
 “Articles”, “Sections”, “Annexes”, “Exhibits”, or “Schedules” shall be
to Articles, Sections, Annexes, Exhibits or Schedules of or to this Agreement unless otherwise specifically provided. Any term
defined herein may be used in the singular or plural. “Include”, “includes” and “including”
shall be deemed to be followed by “without limitation”. Except as otherwise specified or limited herein, references to
any Person include the successors and assigns of such Person. References “from” or “through” any date mean,
unless otherwise specified, “from and including” or “through and including”, respectively. Unless otherwise
specified herein, the settlement of all payments and fundings hereunder between or among the parties hereto shall be made in lawful
money of the United States and in immediately available funds. References to any statute or act shall include all related current
regulations and all amendments and any successor statutes, acts and regulations. All amounts used for purposes of financial
calculations required to be made herein shall be without duplication. References to any statute or act, without additional
reference, shall be deemed to refer to federal statutes and acts of the United States. References to any agreement, instrument or
document shall include all schedules, exhibits, annexes and other attachments thereto. References to capitalized terms that are not
defined herein, but are defined in the UCC, shall have the meanings given them in the UCC. All references herein to times of day
shall be references to Eastern time (daylight savings or standard time, as applicable). All references herein to a merger, transfer,
consolidation, amalgamation, assignment, sale or transfer, or analogous term, will be construed to mean also a division of or by a
limited liability company, as if it were a merger, transfer, consolidation, amalgamation, assignment, sale or transfer, or similar
term, as applicable. Any series of limited liability company shall be considered a separate Person.

 

Section 1.4
            Time is of the Essence. Time is of the essence in Borrower’s and each other Credit
Party’s performance under this Agreement and all other Financing Documents.

 

    36 

     

    

 

ARTICLE 2 - - LOANS AND LETTERS OF CREDIT

 

Section 2.1
          Loans.

 

(a)            [Reserved].

 

(b)            Revolving
Loans.

 

(i)            Revolving
Loans and Borrowings. On the terms and subject to the conditions set forth herein, each Lender severally agrees to make loans to
Borrowers from time to time as set forth herein (each a “Revolving Loan”, and collectively, “Revolving
Loans”) equal to such Lender’s Revolving Loan Commitment Percentage of Revolving Loans requested by Borrowers
hereunder, provided, however, that after giving effect thereto, the Revolving Loan Outstandings shall not exceed the
Revolving Loan Limit. Borrowers shall deliver to Agent a Notice of Borrowing with respect to each proposed Revolving Loan Borrowing,
such Notice of Borrowing to be delivered before 1:00 p.m. (Eastern time) two (2) Business Days prior to the date of
such proposed borrowing (other than the initial Revolving Loan Borrowing on the Closing Date). Each Borrower and each Revolving
Lender hereby authorizes Agent to make Revolving Loans on behalf of Revolving Lenders, at any time in its sole discretion, (A) as
provided in Section 2.5(c), with respect to obligations arising under Support Agreements and/or Lender Letters of Credit, and
(B) to pay principal owing in respect of the Loans and interest, fees, expenses and other charges payable by any Credit
Party from time to time arising under this Agreement or any other Financing Document. The Borrowing Base shall be determined by
Agent based on the most recent Borrowing Base Certificate delivered to Agent in accordance with this Agreement and such other
information as may be available to Agent. Without limiting any other rights and remedies of Agent hereunder or under the other
Financing Documents, the Revolving Loans shall be subject to Agent’s continuing right to withhold reserves from the Borrowing
Base as provided in the “Borrowing Base” definition, and to increase and decrease such reserves from time to time, if
and to the extent that in Agent’s Permitted Discretion, such reserves are necessary.

 

(ii)            Mandatory
Revolving Loan Repayments and Prepayments.

 

(A)            The
Revolving Loan Commitment shall terminate on the Termination Date. On such Termination Date, there shall become due, and Borrowers shall
pay, the entire outstanding principal amount of each Revolving Loan, together with accrued and unpaid Obligations pertaining thereto incurred
to, but excluding the Termination Date; provided, however, that such payment is made not later than 12:00 Noon (Eastern time) on
the Termination Date.

 

(B)            If
at any time the Revolving Loan Outstandings exceed the Revolving Loan Limit, then, on the next succeeding Business Day, Borrowers shall
repay the Revolving Loans or cash collateralize Letter of Credit Liabilities in the manner specified in Section 2.5(e) or cause
the cancellation of outstanding Letters of Credit, or any combination of the foregoing, in an aggregate amount equal to such excess.

 

(C)            Principal
payable on account of Revolving Loans shall be payable by Borrowers to Agent (I) immediately upon the receipt by any Borrower or
Agent of any payments on or proceeds from any of the Accounts, to the extent of such payments or proceeds, as further described in Section 2.11
below, and (II) in full on the Termination Date.

 

    37 

     

    

 

(iii)            Optional
Prepayments. Borrowers may from time to time prepay the Revolving Loans in whole or in part without premium or penalty. For the avoidance
of doubt, unless otherwise consented to in writing by Agent, nothing in this clause shall permit Borrowers to terminate or reduce the
Revolving Loan Commitment other than in connection with a prepayment of all Obligations in full and termination of the Revolving Loan
Commitment and the Financing Documents in accordance with Section 2.12(b).

 

(iv)            LIBOR
Rate.

 

(A)            Except
as provided in subsection (C) below, Revolving Loans shall accrue interest at the LIBOR Rate plus the Applicable Margin.

 

(B)            The
LIBOR Rate may be adjusted by Agent with respect to any Lender on a prospective basis to take into account any additional or
increased costs to such Lender of maintaining or obtaining any eurodollar deposits or increased costs, in each case, due to changes
in applicable Law occurring subsequent to the commencement of the then applicable Interest Period, including changes in tax laws
(except to the extent such changes result in the Lender becoming Liable for Excluded Taxes or Indemnified Taxes) and changes in the
reserve requirements imposed by the Board of Governors of the Federal Reserve System (or any successor), which additional or
increased costs would increase the cost of funding loans bearing interest based upon the LIBOR Rate; provided, however, that
notwithstanding anything in this Agreement to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act
and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (ii) all requests, rules,
guidelines or directives 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 applicable Law”, regardless of the date enacted, adopted or issued. In
any such event, the affected Lender shall give Borrowers and Agent notice of such a determination and adjustment and Agent promptly
shall transmit the notice to each other Lender and, upon its receipt of the notice from the affected Lender, Borrowers may, by
notice to such affected Lender (I) require such Lender to furnish to Borrowers a statement setting forth the basis for
adjusting such LIBOR Rate and the method for determining the amount of such adjustment, or (II) repay the Loans bearing
interest based upon the LIBOR Rate with respect to which such adjustment is made.

 

(C)            In
the event that any change in market conditions or any law, regulation, treaty, or directive, or any change therein or in the interpretation
of application thereof, shall at any time after the date hereof, in the reasonable opinion of any Lender, make it unlawful or impractical
for such Lender to fund or maintain Loans bearing interest based upon the LIBOR Rate or to continue such funding or maintaining, or to
determine or charge interest rates at the LIBOR Rate, such Lender shall give notice of such changed circumstances to Agent and Borrowers
and Agent promptly shall transmit the notice to each other Lender and (I) in the case of any outstanding Loans of such Lender bearing
interest based upon the LIBOR Rate, the date specified in such Lender’s notice shall be deemed to be the last day of the Interest
Period of such Loans, and interest upon such Lender’s Loans thereafter shall accrue interest at Base Rate plus the Applicable
Margin, and (II)  such Loans shall continue to accrue interest at Base Rate plus the Applicable Margin until such Lender determines
that it would no longer be unlawful or impractical to maintain such Loans at the LIBOR Rate.

 

 

(D)            Anything
to the contrary contained herein notwithstanding, neither Agent nor any Lender is required actually to acquire eurodollar deposits to
fund or otherwise match fund any Obligation as to which interest accrues based on the LIBOR Rate.

 

    38 

     

    

 

(c)
          Additional Tranches. After the
Closing Date, so long as no Default or Event of Default exists and subject to the terms of this Agreement, with the prior written
consent of Agent and all Lenders in their sole discretion, the Revolving Loan Commitment may be increased upon the written request
of Borrower Representative (which such request shall state the aggregate amount of the Additional Tranche requested and shall be
made at least thirty (30) days prior to the proposed effective date of such Additional Tranche) to Agent to activate an Additional
Tranche; provided, however, that Agent and Lenders shall have no obligation to consent to any requested activation of an
Additional Tranche and the written consent of Agent and all Lenders providing such Additional Tranche shall be required in order to
activate an Additional Tranche. Upon activating an Additional Tranche, each Lender’s Revolving Loan Commitment shall increase
by a proportionate amount so as to maintain the same Pro Rata Share of the Revolving Loan Commitment as such Lender held immediately
prior to such activation. In the event Agent and all Lenders do not consent to the activation of a requested Additional Tranche
within thirty (30) days after receiving a written request from Borrower Representative, then the Revolving Loan Commitment shall not
be increased and, within the next ninety (90) days, Borrowers may terminate this Agreement upon written notice to Agent and, if the
Borrowing Base on the date of such request would have supported such increased Revolving Loan Commitment, upon repayment in full of
all Obligations, no fee shall be due pursuant to Section 2.2(e) in connection with such termination.

 

(d)            Availability
Block. On and after the Availability Block Trigger Date, the Revolving Loan Limit shall automatically be reduced by a dollar amount
that is equivalent to the Trigger Amount.

 

Section 2.2
           Interest, Interest Calculations and Certain Fees.

 

(a)
           Interest. From and following
the Closing Date, except as expressly set forth in this Agreement, Loans and the other Obligations shall bear interest at the sum of
the LIBOR Rate plus the Applicable Margin. Interest on the Loans shall be paid in arrears on the first (1st) day of each
month and on the maturity of such Loans, whether by acceleration or otherwise. Interest on all other Obligations shall be payable
upon demand. For purposes of calculating interest, all funds transferred to the Payment Account for application to any Revolving
Loans shall be subject to no more than a three (3) Business Day clearance period and all interest accruing on such funds during
such clearance period shall accrue for the benefit of Agent, and not for the benefit of the Lenders.

 

(b)
          Unused Line Fee. From and
following the Closing Date, Borrowers shall pay Agent, for the benefit of all Lenders committed to make Revolving Loans, in
accordance with their respective Pro Rata Shares, a fee in an amount equal to (i) (A) the Revolving Loan Commitment minus
(B) the average daily balance of the sum of the Revolving Loan Outstandings during the preceding month, multiplied by
(ii) one-half of one percent (0.50%) per annum. Such fee is to be paid monthly in arrears on the first day of each month.

 

(c)
          Minimum Balance Fee. On the first day of each month from and
following the Closing Date, the Borrowers agree to pay to Agent, for the ratable benefit of all Lenders, the sum of the Minimum Balance
Fees due for the prior month. The Minimum Balance Fee shall be deemed fully earned when due and payable and, once paid, shall be non-refundable.

 

(d)
          Collateral Management Fee. On the
first day of each month from and following the Closing Date, the Borrowers agree to pay to Agent, to Agent for its own account, in
arrears, a fee in an amount equal to $50,000 per annum (the “Collateral Management Fee”). The Collateral
Management Fee shall be deemed fully earned when due and payable and, once paid, shall be non-refundable.

 

(e)     Deferred
Revolving Loan Origination Fee. If Lenders’ funding obligations in respect
of the Revolving Loan Commitment under this Agreement terminate or are permanently reduced for any reason (whether by voluntary termination
by Borrowers, by reason of the occurrence of an Event of Default, the automatic termination of the Revolving Loan Commitments (including
any automatic termination due to the occurrence of an Event of Default described in Section 10.1(f) or otherwise) prior to the
Commitment Expiry Date, Borrowers shall pay to Agent on the date of such termination or reduction for the benefit of all Lenders committed
to make Revolving Loans on the Closing Date, a fee as compensation for the costs of such Lenders being prepared to make funds available
to Borrowers under this Agreement, equal to an amount determined by multiplying the Revolving Loan Commitment so terminated or
reduced by the following applicable percentage amount: three percent (3.0%) for the first year following the Closing Date, two
percent (2.0%) for the second year following the Closing Date, and zero percent (0.0%) thereafter. All fees payable pursuant to this paragraph
shall be deemed fully earned and non-refundable as of the Closing Date.

 

    39 

     

    

 

(f)     Fee
Letter. In addition to the other fees set forth herein, the Borrowers agree to pay to Agent the fees set forth in the Fee
Letter.

 

(g)     Audit
Fees. Borrowers shall pay to Agent, for its own account and not for the benefit of any other Lenders, all reasonable
fees and expenses in connection with audits and inspections of Borrowers’ books and records, audits, valuations or appraisals of
the Collateral, audits of Borrowers’ compliance with applicable Laws and such other matters as Agent shall deem appropriate, which
shall be due and payable on the first Business Day of the month following the date of issuance by Agent of a written request for payment
thereof to Borrowers, subject to the limitations set forth in Section 4.6 (in the case of audits and field examinations) and Section 4.14(d) (in
the case of valuations or appraisals of the Collateral); provided that fees and expenses reimbursable by the Credit Parties hereunder
shall not exceed $25,000 for any individual audit.

 

(h)     Wire
Fees. Borrowers shall pay to Agent, for its own account and not for the account
of any other Lenders, on written demand, fees for incoming and outgoing wires made for the account of Borrowers, such fees to be based
on Agent’s then current wire fee schedule (available upon written request of the Borrowers).

 

(i)     Computation
of Interest and Related Fees. All interest and fees under each Financing
Document shall be calculated on the basis of a 360-day year for the actual number of days elapsed. The date of funding of a Loan shall
be included in the calculation of interest. The date of payment of a Loan shall be excluded from the calculation of interest. If a Loan
is repaid on the same day that it is made, one (1) day’s interest shall be charged.

 

(j)     Automated
Clearing House Payments. If Agent (or its designated servicer or
trustee on behalf of a securitization vehicle) so elects, monthly payments of principal, interest, fees, expenses or any other
amounts due and owing from Borrower to Agent hereunder shall be paid to Agent by Automated Clearing House debit of immediately
available funds from the financial institution account designated by Borrower Representative in the Automated Clearing House debit
authorization executed by Borrowers or Borrower Representative in connection with this Agreement, and shall be effective upon
receipt. Borrowers shall execute any and all forms and documentation necessary from time to time to effectuate such automatic
debiting. In no event shall any such payments be refunded to Borrowers.

 

Section 2.3     Notes.     The
portion of the Loans made by each Lender shall be evidenced, if so requested by such Lender, by one or more promissory notes executed
by Borrowers on a joint and several basis (each, a “Note”) in an original principal amount equal to such Lender’s
Revolving Loan Commitment Amount. Upon activation of an Additional Tranche in accordance with Section 2.1(c) hereof, Borrowers
shall deliver to each Lender to whom Borrowers previously delivered a Note, a restated Note evidencing such Lender’s Revolving Loan
Commitment Amount.

 

Section 2.4     [Reserved].

 

    40 

     

    

 

Section 2.5     Letters
of Credit and Letter of Credit Fees.

 

(a)            Letter
of Credit. On the terms and subject to the conditions set forth herein, the Revolving Loan Commitment may be used by Borrowers, in
addition to the making of Revolving Loans hereunder, for the issuance, prior to that date which is one year prior to the Commitment Expiry
Date, by (i) Agent, of letters of credit, Guarantees or other agreements or arrangements (each, a “Support Agreement”)
to induce an LC Issuer to issue or increase the amount of, or extend the expiry date of, one or more Letters of Credit and (ii) a
Lender, identified by Agent, as an LC Issuer, of one or more Lender Letters of Credit, so long as, in each case:

 

(i)            Agent
shall have received a Notice of LC Credit Event at least five (5) Business Days before the relevant date of issuance, increase or
extension; and

 

(ii)            after
giving effect to such issuance, increase or extension, (A) the aggregate Letter of Credit Liabilities do not exceed $5,000,000, and
(B) the Revolving Loan Outstandings do not exceed the Revolving Loan Limit.

 

Nothing in this Agreement
shall be construed to obligate any Lender to issue, increase the amount of or extend the expiry date of any Letter of Credit, which act
or acts, if any, shall be subject to agreements to be entered into from time to time between Borrowers and such Lender. Each Lender that
is an LC Issuer hereby agrees to give Agent prompt written notice of each issuance of a Lender Letter of Credit by such Lender and each
payment made by such Lender in respect of Lender Letters of Credit issued by such Lender.

 

Notwithstanding anything to
the contrary set forth herein, Borrowers agree and acknowledge that no part of the Revolving Loan Commitment will be available for the
issuance of a Letter of Credit until such times as Agent notifies Borrower Representative that a Lender party to this Agreement is an
LC Issuer.

 

(b)     Letter
of Credit Fee. Borrowers shall pay to Agent, for the benefit of the Revolving
Lenders in accordance with their respective Pro Rata Shares, a letter of credit fee with respect to the Letter of Credit Liabilities for
each Letter of Credit, computed for each day from the date of issuance of such Letter of Credit to the date that is the last day a drawing
is available under such Letter of Credit, at a rate per annum equal to the Applicable Margin then applicable to Loans bearing interest
based upon the LIBOR Rate. Such fee shall be payable in arrears on the last day of each calendar month prior to the Termination Date and
on such date. In addition, Borrowers agree to pay promptly to the LC Issuer its customary fronting or other fees that it may charge in
connection with any Letter of Credit.

 

(c)     Reimbursement
Obligations of Borrowers. If either (i) Agent shall make a
payment to an LC Issuer pursuant to a Support Agreement, or (ii) any Lender shall notify Agent that it has made payment in
respect of, a Lender Letter of Credit, (A) the applicable Borrower shall reimburse Agent or such Lender, as applicable, for the
amount of such payment by the end of the Business Day following the day on which Agent or such Lender shall make such payment and
(B) Borrowers shall be deemed to have immediately requested that Revolving Lenders make a Revolving Loan, in a principal amount
equal to the amount of such payment (but solely to the extent such Borrower shall have failed to directly reimburse Agent or, with
respect to Lender Letters of Credit, the applicable LC Issuer, for the amount of such payment). Agent shall promptly notify
Revolving Lenders of any such deemed request and each Revolving Lender hereby agrees to make available to Agent not later than noon
(Eastern time) on the Business Day following such notification from Agent such Revolving Lender’s Pro Rata Share of such
Revolving Loan. Each Revolving Lender hereby absolutely and unconditionally agrees to fund such Revolving Lender’s Pro Rata
Share of the Loan described in the immediately preceding sentence, unaffected by any circumstance whatsoever, including, without
limitation, (x) the occurrence and continuance of a Default or Event of Default, (y) the fact that, whether before or
after giving effect to the making of any such Revolving Loan, the Revolving Loan Outstandings exceed or will exceed the Revolving
Loan Limit, and/or (z) the non-satisfaction of any conditions set forth in Section 7.2. Agent hereby agrees to apply the
gross proceeds of each Revolving Loan deemed made pursuant to this Section 2.5(c) in satisfaction of Borrowers’
reimbursement obligations arising pursuant to this Section 2.5(c). Borrowers shall pay interest, on demand, on all amounts so
paid by Agent pursuant to any Support Agreement or to any applicable Lender in honoring a draw request under any Lender Letter of
Credit for each day from the date of such payment until Borrowers reimburse Agent or the applicable Lender therefor (whether
pursuant to clause (A) or (B) of the first sentence of this subsection (c)) at a rate per annum equal to the sum
of two percent (2%) plus the interest rate applicable to Revolving Loans for such day.

 

    41 

     

    

 

(d)     Reimbursement
and Other Payments by Borrowers. The obligations of each Borrower to reimburse
Agent and/or the applicable LC Issuer pursuant to Section 2.5(c) shall be absolute, unconditional and irrevocable, and shall
be performed strictly in accordance with the terms of this Agreement, under all circumstances whatsoever, including the following:

 

(i)            any
lack of validity or enforceability of, or any amendment or waiver of or any consent to departure from, any Letter of Credit or any related
document;

 

(ii)            the
existence of any claim, set-off, defense or other right which any Borrower may have at any time against the beneficiary of any Letter
of Credit, the LC Issuer (including any claim for improper payment), Agent, any Lender or any other Person, whether in connection with
any Financing Document or any unrelated transaction, provided, however, that nothing herein shall prevent the assertion
of any such claim by separate suit or compulsory counterclaim;

 

(iii)            any
statement or any other document presented under any 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 whatsoever;

 

(iv)            any
affiliation between the LC Issuer and Agent; or

 

(v)            to
the extent permitted under applicable law, any other circumstance or happening whatsoever, whether or not similar to any of the foregoing.

 

(e)     Deposit
Obligations of Borrowers. In the event any Letters of Credit are
outstanding at the time that Borrowers prepay in full or are required to repay the Obligations or the Revolving Loan Commitment is
terminated, Borrowers shall (i) deposit with Agent for the benefit of all Revolving Lenders cash in an amount equal to one
hundred five percent (105%) of the aggregate outstanding Letter of Credit Liabilities to be available to Agent, for its benefit and
the benefit of issuers of Letters of Credit, to reimburse payments of drafts drawn under such Letters of Credit and pay any fees and
expenses related thereto, and (ii) prepay the fee payable under Section 2.5(b) with respect to such Letters of Credit
for the full remaining terms of such Letters of Credit assuming that the full amount of such Letters of Credit as of the date of
such repayment or termination remain outstanding until the end of such remaining terms. Upon termination of any such Letter of
Credit and so long as no Event of Default has occurred and is continuing, the unearned portion of such prepaid fee attributable to
such Letter of Credit shall be refunded to Borrowers, together with the deposit described in the preceding
clause (i) attributable to such Letter of Credit, but only to the extent not previously applied by Agent in the manner
described herein.

 

(f)     Participations
in Support Agreements and Lender Letters of Credit.

 

(i)            Concurrently
with the issuance of each Supported Letter of Credit, Agent shall be deemed to have sold and transferred to each Revolving Lender, and
each such Revolving Lender shall be deemed irrevocably and immediately to have purchased and received from Agent, without recourse or
warranty, an undivided interest and participation in, to the extent of such Lender’s Pro Rata Share, Agent’s Support Agreement
liabilities and obligations in respect of such Supported Letter of Credit and Borrowers’ Reimbursement Obligations with respect
thereto. Concurrently with the issuance of each Lender Letter of Credit, the LC Issuer in respect thereof shall be deemed to have sold
and transferred to each Revolving Lender, and each such Revolving Lender shall be deemed irrevocably and immediately to have purchased
and received from such LC Issuer, without recourse or warranty, an undivided interest and participation in, to the extent of such Lender’s
Pro Rata Share, such Lender Letter of Credit and Borrowers’ Reimbursement Obligations with respect thereto. Any purchase obligation
arising pursuant to the immediately two preceding sentences shall be absolute and unconditional and shall not be affected by any circumstances
whatsoever.

 

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(ii)            If
either (A) Agent makes any payment or disbursement under any Support Agreement and/or (B) an LC Issuer makes any payment or
disbursement under any Lender Letter of Credit, and (I) Borrowers have not reimbursed Agent or the applicable LC Issuer, as applicable,
in full for such payment or disbursement in accordance with Section 2.5(c), or (II) any reimbursement under any Support Agreement
or Lender Letter of Credit received by Agent or any LC Issuer, as applicable, from any Credit Party is or must be returned or rescinded
upon or during any bankruptcy or reorganization of any Credit Party or otherwise, each Revolving Lender shall be irrevocably and unconditionally
obligated to pay to Agent or the applicable LC Issuer, as applicable, its Pro Rata Share of such payment or disbursement (but no such
payment shall diminish the Obligations of Borrowers under Section 2.5(c)). To the extent any such Revolving Lender shall not have
made such amount available to Agent or the applicable LC Issuer, as applicable, before 12:00 Noon (Eastern time) on the Business Day on
which such Lender receives notice from Agent or the applicable LC Issuer, as applicable, of such payment or disbursement, or return or
rescission, as applicable, such Lender agrees to pay interest on such amount to Agent or the applicable LC Issuer, as applicable, forthwith
on demand accruing daily at the Federal Funds Rate, for the first three (3) days following such Lender’s receipt of such notice,
and thereafter at the Base Rate plus the Applicable Margin in respect of Revolving Loans. Any such Revolving Lender’s failure
to make available to Agent or the applicable LC Issuer, as applicable, its Pro Rata Share of any such payment or disbursement, or return
or rescission, as applicable, shall not relieve any other Lender of its obligation hereunder to make available such other Revolving Lender’s
Pro Rata Share of such payment, but no Revolving Lender shall be responsible for the failure of any other Lender to make available such
other Lender’s Pro Rata Share of any such payment or disbursement, or return or rescission.

 

Section 2.6     General
Provisions Regarding Payment; Loan Account.

 

(a)            All
payments to be made by each Borrower under any Financing Document, including payments of principal and interest made hereunder and
pursuant to any other Financing Document, and all fees, expenses, indemnities and reimbursements, shall be made without set-off,
recoupment or counterclaim. If any payment hereunder becomes due and payable on a day other than a Business Day, such payment shall
be extended to the next succeeding Business Day and, with respect to payments of principal, interest thereon shall be payable at the
then applicable rate during such extension (it being understood and agreed that, solely for purposes of calculating financial
covenants and computations contained herein and determining compliance therewith, if payment is made, in full, on any such extended
due date, such payment shall be deemed to have been paid on the original due date without giving effect to any extension thereto).
Any payments received in the Payment Account before 12:00 Noon (Eastern time) on any date shall be deemed received by Agent on such
date, and any payments received in the Payment Account at or after 12:00 Noon (Eastern time) on any date shall be deemed received by
Agent on the next succeeding Business Day. Borrowers and each Lender hereby authorize and direct Agent, subject to the provisions of
Section 10.7 hereof, to apply such prepayment against then outstanding Revolving Loans.

 

(b)            Agent
shall maintain a loan account (the “Loan Account”) on its books to record Loans and other extensions of credit made
by the Lenders hereunder or under any other Financing Document, and all payments thereon made by each Borrower. All entries in the Loan
Account shall be made in accordance with Agent’s customary accounting practices as in effect from time to time. The balance in the
Loan Account, as recorded in Agent’s books and records at any time shall be conclusive and binding evidence of the amounts due and
owing to Agent by each Borrower absent manifest error; provided, however, that any failure to so record or any error in
so recording shall not limit or otherwise affect any Borrower’s duty to pay all amounts owing hereunder or under any other Financing
Document. Agent shall endeavor to provide Borrowers with a monthly statement regarding the Loan Account (but neither Agent nor any Lender
shall have any liability if Agent shall fail to provide any such statement). Unless any Borrower notifies Agent of any objection to any
such statement (specifically describing the basis for such objection) within ninety (90) days after the date of receipt thereof, it shall
be deemed final, binding and conclusive upon Borrowers in all respects as to all matters reflected therein.

 

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Section 2.7     Maximum
Interest. In no event shall the interest charged with respect to the Loans or any other Obligations of any Borrower under any Financing
Document exceed the maximum amount permitted under the laws of the State of New York or of any other applicable jurisdiction. Notwithstanding
anything to the contrary herein or elsewhere, if at any time the rate of interest payable hereunder or under any Note or other Financing
Document (the “Stated Rate”) would exceed the highest rate of interest permitted under any applicable law to be charged
(the “Maximum Lawful Rate”), then for so long as the Maximum Lawful Rate would be so exceeded, the rate of interest
payable shall be equal to the Maximum Lawful Rate; provided, however, that if at any time thereafter the Stated Rate is
less than the Maximum Lawful Rate, each Borrower shall, to the extent permitted by law, continue to pay interest at the Maximum Lawful
Rate until such time as the total interest received is equal to the total interest which would have been received had the Stated Rate
been (but for the operation of this provision) the interest rate payable. Thereafter, the interest rate payable shall be the Stated Rate
unless and until the Stated Rate again would exceed the Maximum Lawful Rate, in which event this provision shall again apply. In no event
shall the total interest received by any Lender exceed the amount which it could lawfully have received had the interest been calculated
for the full term hereof at the Maximum Lawful Rate. If, notwithstanding the prior sentence, any Lender has received interest hereunder
in excess of the Maximum Lawful Rate, such excess amount shall be applied to the reduction of the principal balance of the Loans or to
other amounts (other than interest) payable hereunder, and if no such principal or other amounts are then outstanding, such excess or
part thereof remaining shall be paid to Borrowers. In computing interest payable with reference to the Maximum Lawful Rate applicable
to any Lender, such interest shall be calculated at a daily rate equal to the Maximum Lawful Rate divided by the number of days
in the year in which such calculation is made.

 

Section 2.8     Taxes;
Capital Adequacy.

 

(a)            All
payments of principal and interest on the Loans and all other amounts payable hereunder shall be made free and clear of and without
deduction for any Taxes, except as required by applicable Law. If any applicable Law (as determined in the good faith discretion of
an applicable Withholding Agent) requires the deduction or withholding of any Tax from any such payment by a Withholding Agent, then
the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall timely pay the full amount
deducted or withheld to the relevant Governmental Authority in accordance with applicable Law and if any such withholding or
deduction is in respect of any Indemnified Taxes, then the Borrowers shall pay such additional amount or amounts as is necessary to
ensure that the net amount actually received by Agent and each Lender will equal the full amount Agent and such Lender would have
received had no such withholding or deduction been required (including, without limitation, such withholdings and deductions
applicable to additional sums payable under this Section 2.8). After payment of any Tax by a Borrower to a Governmental
Authority pursuant to this Section 2.8, such Borrower shall promptly forward to Agent the original or a certified copy of an
official receipt, a copy of the return reporting such payment, or other documentation satisfactory to Agent evidencing such payment
to such authority. Borrowers shall timely pay to the relevant Governmental Authority in accordance with applicable Law, or at the
option of Agent timely reimburse it for the payment of, any Other Taxes.

 

(b)            The
Borrowers shall indemnify Agent and the Lenders, within ten (10) days after demand thereof, for the full amount of any Indemnified
Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section 2.8) payable or paid
by Agent or any Lender or required to be withheld or deducted from a payment to Agent or any Lender and any expenses arising therefrom
or with respect thereto, whether or not such Indemnified Taxes and Other Taxes were correctly or legally imposed or asserted by the relevant
Governmental Authority. A certificate in reasonable detail as to the amount of such payment or liability delivered to Borrowers by a Lender
(with a copy to Agent), or by Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error.

 

(c)            Any
Lender that is entitled to an exemption from or reduction of withholding tax with respect to payments made under any Financing Document
shall deliver to Borrower Representative and Agent, at the time or times prescribed by applicable Law or reasonably requested by Borrower
Representative or Agent, such properly completed and executed documentation reasonably requested by Borrower Representative or Agent as
will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested
by Borrower Representative or Agent, shall deliver such other documentation prescribed by applicable Law or reasonably requested by Borrowers
or Agent as will enable Borrowers or Agent to determine whether or not such Lender is subject to backup withholding or information reporting
requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such
documentation (other than such documentation set forth in Sections 2.8(c)(i), 2.8(c)(ii) and 2.8(e) below) shall not be
required if in such Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material
unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender. Without Limiting the generality
of the foregoing:

 

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(i)            Each
Lender that is not a “United States person” (as such term is defined in Section 7701(a)(30) of the Code) for U.S.
federal income tax purposes and is a party hereto on the Closing Date or purports to become an assignee of an interest pursuant to
Section 11.17(a) after the Closing Date (unless such Lender was already a Lender hereunder immediately prior to such
assignment) (each such Lender a “Foreign Lender”) shall, to the extent permitted by Law, execute and deliver to
Borrower Representative and Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which
such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the
Borrower Representative or Agent) whichever of the following is applicable: (A) in the case of a Foreign Lender claiming the
benefits of an income tax treaty to which the United States is a party, (x) with respect to payments of interest under any
Financing Document, two (2) properly completed and executed originals of United States Internal Revenue Service
(“IRS”) Forms W-8BEN or W-8BEN-E (or successor form) establishing an exemption from, or reduction of, U.S.
federal withholding tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other
applicable payments under any Financing Documents, two (2) properly completed and executed originals of IRS Forms W-8BEN or
W-8BEN-E (or successor form) establishing an exemption from, or reduction of, U.S. federal withholding tax pursuant to the
 “business profits” or “other income” article of such tax treaty; (B) two (2) executed originals of
Form W-8ECI (or successor form); (C) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio
interest under Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit F-1 to
the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a
 “10 percent shareholder” of any Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a
 “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance
Certificate”) and (y) two (2) executed originals of IRS Forms W-8BEN or W-8BEN-E (or successor form); (D) to
the extent a Foreign Lender is not the beneficial owner, two (2) executed originals of IRS Form W-8IMY, accompanied by IRS
Form W-8ECI, IRS Form W-8BEN or W-8BEN-E (or successor form), a U.S. Tax Compliance Certificate substantially in the
form of Exhibit F-2 or Exhibit F-3, IRS Form W-9 (or successor form), and/or other certification
documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more
direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a
U.S. Tax Compliance Certificate substantially in the form of Exhibit F-4 on behalf of each such direct and indirect
partner; or (E) other applicable forms, certificates or documents prescribed by the IRS. Each Lender agrees that if any form or
certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or
certification or promptly notify Borrower Representative and Agent in writing of its legal inability to do so. In addition, to the
extent permitted by applicable Law, such forms shall be delivered by each Foreign Lender upon the obsolescence or invalidity of any
form previously delivered by such Foreign Lender. Each Foreign Lender shall promptly notify Borrower Representative at any time it
determines that it is no longer in a position to provide any previously delivered certificate to Borrower Representative (or any
other form of certification adopted by the U.S. taxing authorities for such purpose).

 

(ii)            Each
Lender that is a “United States person” (as such term is defined in Section 7701(a)(30) of the Code) for U.S. federal
income tax purposes and is a party hereto on the Closing Date or purports to become an assignee of an interest pursuant to Section 11.17(a) after
the Closing Date (unless such Lender was already a Lender hereunder immediately prior to such assignment) shall, to the extent permitted
by Law, provide to Borrower Representative and Agent on or prior to the date on which such Lender becomes a Lender under this Agreement
(and from time to time thereafter upon the reasonable request of the Borrower Representative or Agent), a properly completed and executed
IRS Form W-9 or any successor form certifying as to such Lender’s entitlement to an exemption from U.S. backup withholding
and other applicable forms, certificates or documents prescribed by the IRS or reasonably requested by Borrower Representative or Agent.
Each such Lender shall promptly notify Borrowers at any time it determines that any certificate previously delivered to Borrower Representative
(or any other form of certification adopted by the U.S. governmental authorities for such purposes) is no longer valid.

 

(iii)            Any
Foreign Lender shall, to the extent it is legally entitled to do so, deliver to Borrower Representative and Agent (in such number of copies
as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and
from time to time thereafter upon the reasonable request of the Borrower Representative or Agent), executed copies of any other form prescribed
by applicable Law as a basis for claiming exemption from or a reduction in U.S. Federal withholding Tax, duly completed, together with
such supplementary documentation as may be prescribed by applicable law to permit Borrowers or Agent to determine the withholding or deduction
required to be made.

 

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(d)            If
any Lender determines, in its sole discretion exercised in good faith, that it has received a refund in respect of any Taxes as to which
it has been indemnified by any Borrower pursuant to this Section 2.8 (including by the payment of additional amounts pursuant to
this Section 2.8), then it shall promptly pay an amount equal to such refund to Borrowers, net of all reasonable out-of-pocket expenses
of such Lender or of Agent with respect thereto incurred in order to obtain such refund, including any Taxes; provided, however,
that Borrowers, upon the written request of such Lender or Agent, agree to repay any amount paid over to Borrowers to such Lender or to
Agent (plus any related penalties, interest or other charges imposed by the relevant Governmental Authority) in the event such Lender
or Agent is required, for any reason, to disgorge or otherwise repay such refund. Notwithstanding anything to the contrary in this Section 2.8,
in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this Section 2.8(d) the
payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been
in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification
payments or additional amounts with respect to such Tax had never been paid. This Section 2.8 shall not be construed to require any
indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the
indemnifying party or any other Person.

 

(e)            If
a payment made to a Lender under any Financing Document would be subject to U.S. federal withholding tax imposed by FATCA if such
Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in
Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to Borrower Representative and
Agent at the time or times prescribed by Law and at such time or times reasonably requested by Borrower Representative or Agent such
documentation prescribed by applicable Law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such
additional documentation reasonably requested by Borrower Representative or Agent as may be necessary for Borrowers and Agent to
comply with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under
FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (e),
 “FATCA” shall include any amendments made to FATCA after the date of this Agreement.

 

(f)            Each
Lender shall severally indemnify Agent, within ten (10) days after demand therefor, for (i) any Indemnified Taxes attributable
to such Lender (but only to the extent that any Credit Party has not already indemnified Agent for such Indemnified Taxes and without
limiting the obligation of the Credit Parties to do so), (ii) any Taxes attributable to such Lender’s failure to comply with
the provisions of Section 11.17 relating to the maintenance of a Participant Register and (iii) any Excluded Taxes attributable
to such Lender, in each case, that are payable or paid by Agent in connection with any Financing Document, and any reasonable expenses
arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental
Authority. A certificate as to the amount of such payment or liability delivered to any Lender by Agent shall be conclusive absent manifest
error. Each Lender hereby authorizes Agent to set off and apply any and all amounts at any time owing to such Lender under any Financing
Document or otherwise payable by Agent to such Lender from any other source against any amount due to Agent under this paragraph (f).

 

(g)            Each
party’s obligations under Section 2.8(a) through (f) shall survive the resignation or replacement of Agent or any
assignment of rights by, or the replacement of, a Lender, and the repayment, satisfaction or discharge of all Obligations hereunder.

 

(h)            If
any Lender shall reasonably determine that the adoption or taking effect of, or any change in, any applicable Law regarding capital adequacy,
in each instance, after the Closing Date, or any change after the Closing Date in the interpretation, administration or application thereof
by any Governmental Authority, central bank or comparable agency charged with the interpretation, administration or application thereof,
or the compliance by any Lender or any Person controlling such Lender with any request, guideline or directive regarding capital adequacy
(whether or not having the force of Law) of any such Governmental Authority, central bank or comparable agency adopted or otherwise taking
effect after the Closing Date, has or would have the effect of reducing the rate of return on such Lender’s or such controlling
Person’s capital as a consequence of such Lender’s obligations hereunder to a level below that which such Lender or such controlling
Person could have achieved but for such adoption, taking effect, change, interpretation, administration, application or compliance (taking
into consideration such Lender’s or such controlling Person’s policies with respect to capital adequacy) then from time to
time, upon demand by such Lender (which demand shall be accompanied by a certificate setting forth the basis for such demand and a calculation
of the amount thereof in reasonable detail, a copy of which shall be furnished to Agent), Borrowers shall promptly pay to such Lender
such additional amount as will compensate such Lender or such controlling Person for such reduction, so long as such amounts have accrued
on or after the day which is two hundred seventy (270) days prior to the date on which such Lender first made demand therefor; provided
that notwithstanding anything in this Agreement to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act
and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (ii) all requests, rules, guidelines
or directives 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 applicable Law”, regardless of the date enacted, adopted or issued.

 

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(i)            If
any Lender requests compensation under any of Section 2.1(a)(iv), Section 2.1(b)(iv) or this Section 2.8, or
requires Borrowers to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant
to Section 2.8, then, upon the written request of Borrower Representative, such Lender shall use reasonable efforts to
designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder
(subject to the provisions of Section 11.17) to another of its offices, branches or affiliates, if, in the reasonable judgment
of such Lender, such designation or assignment (i) would eliminate or materially reduce amounts payable pursuant to any such
Section, as the case may be, in the future, (ii) would not subject such Lender to any unreimbursed cost or expense and
(iii) would not otherwise be disadvantageous to such Lender (as determined in its sole good faith discretion). Without
limitation of the provisions of Section 13.14, each Borrower hereby agrees to pay all reasonable and documented, out-of-pocket
costs and expenses incurred by any Lender in connection with any such designation or assignment.

 

Section 2.9     Appointment
of Borrower Representative.

 

(a)            Each
Borrower hereby irrevocably appoints and constitutes Borrower Representative as its agent and attorney-in-fact to request and receive
Loans in the name or on behalf of such Borrower and any other Borrowers, deliver Notices of Borrowing, Notices of LC Credit Events and
Borrowing Base Certificates, give instructions with respect to the disbursement of the proceeds of the Loans, requesting Letters of Credit,
giving and receiving all other notices and consents hereunder or under any of the other Financing Documents and taking all other actions
(including in respect of compliance with covenants) in the name or on behalf of any Borrower or Borrowers pursuant to this Agreement and
the other Financing Documents. Agent and Lenders may disburse the Loans to such bank account of Borrower Representative or a Borrower
or otherwise make such Loans to a Borrower, and LC Issuer may provide such Letters of Credit for the account of a Borrower, in each case
as Borrower Representative may designate or direct, without notice to any other Borrower. Notwithstanding anything to the contrary contained
herein, Agent may at any time and from time to time require that Loans to or for the account of any Borrower be disbursed directly to
an operating account of such Borrower.

 

(b)            Borrower
Representative hereby accepts the appointment by Borrowers to act as the agent and attorney-in-fact of Borrowers pursuant to this Section 2.9.
Borrower Representative shall ensure that the disbursement of any Loans that are at any time requested by or to be remitted to or for
the account of a Borrower, or the issuance of any Letter of Credit requested on behalf of a Borrower hereunder, shall be remitted or issued
to or for the account of such Borrower.

 

(c)            Each
Borrower hereby irrevocably appoints and constitutes Borrower Representative as its agent to receive statements on account and all other
notices from Agent, Lenders, and LC Issuer with respect to the Obligations or otherwise under or in connection with this Agreement and
the other Financing Documents.

 

(d)            Any
notice, election, representation, warranty, agreement or undertaking made or delivered by or on behalf of any Borrower by Borrower Representative
shall be deemed for all purposes to have been made or delivered by such Borrower, as the case may be, and shall be binding upon and enforceable
against such Borrower to the same extent as if made or delivered directly by such Borrower.

 

(e)            No
resignation by or termination of the appointment of Borrower Representative as agent and attorney-in-fact as aforesaid shall be effective,
except after ten (10) Business Days’ prior written notice to Agent. If the Borrower Representative resigns under this Agreement,
Borrowers shall be entitled to appoint a successor Borrower Representative (which shall be a Borrower and shall be reasonably acceptable
to Agent as such successor). Upon the acceptance of its appointment as successor Borrower Representative hereunder, such successor Borrower
Representative shall succeed to all the rights, powers and duties of the retiring Borrower Representative and the term “Borrower
Representative” means such successor Borrower Representative for all purposes of this Agreement and the other Financing Documents,
and the retiring or terminated Borrower Representative’s appointment, powers and duties as Borrower Representative shall be thereupon
terminated.

 

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Section 2.10     Joint
and Several Liability; Rights of Contribution; Subordination and Subrogation.

 

(a)            Borrowers
are defined collectively to include all Persons named as one of the Borrowers herein; provided, however, that any
references herein to “any Borrower”, “each Borrower” or similar references, shall be construed as a
reference to each individual Person named as one of the Borrowers herein. Each Person so named shall be jointly and severally liable
for all of the obligations of Borrowers under this Agreement. Each Borrower, individually, expressly understands, agrees and
acknowledges, that the credit facilities would not be made available on the terms herein in the absence of the collective credit of
all of the Persons named as the Borrowers herein, the joint and several liability of all such Persons, and the
cross-collateralization of the collateral of all such Persons. Accordingly, each Borrower individually acknowledges that the benefit
to each of the Persons named as one of the Borrowers as a whole constitutes reasonably equivalent value, regardless of the amount of
the credit facilities actually borrowed by, advanced to, or the amount of collateral provided by, any individual Borrower. In
addition, each entity named as one of the Borrowers herein hereby acknowledges and agrees that all of the representations,
warranties, covenants, obligations, conditions, agreements and other terms contained in this Agreement shall be applicable to and
shall be binding upon and measured and enforceable individually against each Person named as one of the Borrowers herein as well as
all such Persons when taken together. By way of illustration, but without limiting the generality of the foregoing, the terms of
Section 10.1 of this Agreement are to be applied to each individual Person named as one of the Borrowers herein (as well as to
all such Persons taken as a whole), such that the occurrence of any of the events described in Section 10.1 of this Agreement
as to any Person named as one of the Borrowers herein shall constitute an Event of Default even if such event has not occurred as to
any other Persons named as the Borrowers or as to all such Persons taken as a whole.

 

(b)            Notwithstanding
any provisions of this Agreement to the contrary, it is intended that the joint and several nature of the liability of each Borrower for
the Obligations and the Liens granted by Borrowers to secure the Obligations, not constitute a Fraudulent Conveyance (as defined below).
Consequently, Agent, Lenders and each Borrower agree that if the liability of a Borrower for the Obligations, or any Liens granted by
such Borrower securing the Obligations would, but for the application of this sentence, constitute a Fraudulent Conveyance, the liability
of such Borrower and the Liens securing such liability shall be valid and enforceable only to the maximum extent that would not cause
such liability or such Lien to constitute a Fraudulent Conveyance, and the liability of such Borrower and this Agreement shall automatically
be deemed to have been amended accordingly. For purposes hereof, the term “Fraudulent Conveyance” means a fraudulent
conveyance under Section 548 of Chapter 11 of Title II of the Bankruptcy Code or a fraudulent conveyance or fraudulent transfer
under the applicable provisions of any fraudulent conveyance or fraudulent transfer law or similar law of any state, nation or other governmental
unit, as in effect from time to time.

 

(c)            Agent
is hereby authorized, without notice or demand (except as otherwise specifically required under this Agreement or by applicable law) and
without affecting the liability of any Borrower hereunder, at any time and from time to time, to (i) renew, extend or otherwise increase
the time for payment of the Obligations; (ii) with the written agreement of all Borrowers, change the terms relating to the Obligations
or otherwise modify, amend or change the terms of any Note or other agreement, document or instrument now or hereafter executed by any
Borrower and delivered to Agent for any Lender; (iii) accept partial payments of the Obligations; (iv) take and hold any Collateral
for the payment of the Obligations or for the payment of any guaranties of the Obligations and exchange, enforce, waive and release any
such Collateral; (v) apply any such Collateral and direct the order or manner of sale thereof as Agent, in its sole discretion, may
determine; and (vi) settle, release, compromise, collect or otherwise liquidate the Obligations and any Collateral therefor in any
manner, all guarantor and surety defenses being hereby waived by each Borrower. Except as specifically provided in this Agreement or any
of the other Financing Documents, Agent shall have the exclusive right to determine the time and manner of application of any payments
or credits, whether received from any Borrower or any other source, and such determination shall be binding on all Borrowers. All such
payments and credits may be applied, reversed and reapplied, in whole or in part, to any of the Obligations that Agent shall determine,
in its sole discretion, without affecting the validity or enforceability of the Obligations of any other Borrower.

 

(d)            Each
Borrower hereby agrees that, except as hereinafter provided, its obligations hereunder shall be unconditional, irrespective of (i) the
absence of any attempt to collect the Obligations from any obligor or other action to enforce the same; (ii) the waiver or consent
by Agent with respect to any provision of any instrument evidencing the Obligations, or any part thereof, or any other agreement heretofore,
now or hereafter executed by a Borrower and delivered to Agent; (iii) failure by Agent to take any steps to perfect and maintain
its security interest in, or to preserve its rights to, any security or collateral for the Obligations; (iv) the institution of any
proceeding under the Bankruptcy Code, or any similar proceeding, by or against a Borrower or Agent’s election in any such proceeding
of the application of Section 1111(b)(2) of the Bankruptcy Code; (v) any borrowing or grant of a security interest by a
Borrower as debtor-in-possession, under Section 364 of the Bankruptcy Code; (vi) the disallowance, under Section 502 of
the Bankruptcy Code, of all or any portion of Agent’s claim(s) for repayment of any of the Obligations; or (vii) any other
circumstance other than payment in full of the Obligations which might otherwise constitute a legal or equitable discharge or defense
of a guarantor or surety.

 

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(e)            Borrowers
hereby agree, as between themselves, that to the extent that Agent, on behalf of Lenders, shall have received from any Borrower any Recovery
Amount (as defined below), then the paying Borrower shall have a right of contribution against each other Borrower in an amount equal
to such other Borrower’s contributive share of such Recovery Amount; provided, however, that in the event any Borrower
suffers a Deficiency Amount (as defined below), then the Borrower suffering the Deficiency Amount shall be entitled to seek and receive
contribution from and against the other Borrowers in an amount equal to the Deficiency Amount; and provided, further, that
in no event shall the aggregate amounts so reimbursed by reason of the contribution of any Borrower equal or exceed an amount that would,
if paid, constitute or result in Fraudulent Conveyance. Until all Obligations have been paid and satisfied in full (other than contingent
and indemnification obligations for which no claim has been made), no payment made by or for the account of a Borrower including, without
limitation, (i) a payment made by such Borrower on behalf of the liabilities of any other Borrower, or (ii) a payment made by
any other Guarantor under any Guarantee, shall entitle such Borrower, by subrogation or otherwise, to any payment from such other Borrower
or from or out of such other Borrower’s property. The right of each Borrower to receive any contribution under this Section 2.10(e) or
by subrogation or otherwise from any other Borrower shall be subordinate in right of payment to the Obligations and such Borrower shall
not exercise any right or remedy against such other Borrower or any property of such other Borrower by reason of any performance of such
Borrower of its joint and several obligations hereunder, until the Obligations have been paid and satisfied in full (other than contingent
and indemnification obligations for which no claim has been made), and no Borrower shall exercise any right or remedy with respect to
this Section 2.10(e) until the Obligations have been paid and satisfied in full (other than contingent and indemnification obligations
for which no claim has been made). As used in this Section 2.10(e), the term “Recovery Amount” means the amount
of proceeds received by or credited to Agent from the exercise of any remedy of the Lenders under this Agreement or the other Financing
Documents, including, without limitation, the sale of any Collateral. As used in this Section 2.10(e), the term “Deficiency
Amount” means any amount that is less than the entire amount a Borrower is entitled to receive by way of contribution or subrogation
from, but that has not been paid by, the other Borrowers in respect of any Recovery Amount attributable to the Borrower entitled to contribution,
until the Deficiency Amount has been reduced to Zero Dollars ($0) through contributions and reimbursements made under the terms of this
Section 2.10(e) or otherwise.

 

Section 2.11     Collections
and Lockbox Account.

 

(a)            Borrowers
shall maintain a lockbox (the “Lockbox”) with a United States depository institution reasonably acceptable to Agent
(the “Lockbox Bank”), subject to the provisions of this Agreement, and shall execute with the Lockbox Bank a Deposit
Account Control Agreement and such other agreements related to such Lockbox as Agent may reasonably require. For the avoidance of doubt,
Silicon Valley Bank is reasonably acceptable to Agent. Borrowers shall direct that all collections of Accounts and proceeds of other Borrowing
Base Collateral are paid directly from Account Debtors (i) into the Lockbox for deposit into the Lockbox Account and/or (ii) directly
into the Lockbox Account; provided, however, that unless Agent shall otherwise direct by written notice to Borrowers, Borrowers
shall be permitted to cause Account Debtors who are individuals to pay Accounts directly to Borrowers, which Borrowers shall then administer
and apply in the manner required below. For the avoidance of doubt, neither proceeds of new equity or convertible equity raises nor receipts
of casualty or condemnation insurance proceeds shall be required to be deposited into the Lockbox. All funds deposited into a Lockbox
Account shall be transferred into the Payment Account by the close of each Business Day.

 

(b)            [Reserved].

 

(c)            Notwithstanding
anything in any lockbox agreement or Deposit Account Control Agreement to the contrary, Borrowers agree that they shall be liable
for any fees and charges in effect from time to time and charged by the Lockbox Bank in connection with the Lockbox, the Lockbox
Account, and that Agent shall have no liability therefor. Borrowers hereby indemnify and agree to hold Agent harmless from any and
all liabilities, claims, losses and demands whatsoever, including reasonable attorneys’ fees and expenses, arising from or
relating to actions of Agent or the Lockbox Bank pursuant to this Section or any lockbox agreement or Deposit Account Control
Agreement or similar agreement, except to the extent of such losses arising solely from Agent’s gross negligence or willful
misconduct.

 

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(d)            Agent
shall apply, on a daily basis, all funds transferred into the Payment Account pursuant to this Section 2.11 to reduce the outstanding
Revolving Loans in such order of application as Agent shall elect. If as the result of collections of Accounts pursuant to the terms and
conditions of this Section, a credit balance exists with respect to the Loan Account, such credit balance shall not accrue interest in
favor of Borrowers, but Agent shall transfer such funds into an account designated by Borrower Representative for so long as no Event
of Default exists.

 

(e)            To
the extent that any collections of Accounts or proceeds of other Borrowing Base Collateral are not sent directly to the Lockbox or Lockbox
Account but are received by any Borrower, such collections shall be held in trust for the benefit of Agent pursuant to an express trust
created hereby and promptly remitted, in the form received, to applicable Lockbox or Lockbox Account. No such funds received by any Borrower
shall be commingled with other funds of the Borrowers.

 

(f)            Borrowers
acknowledge and agree that compliance with the terms of this Section is essential, and that Agent and Lenders will suffer immediate
and irreparable injury and have no adequate remedy at law, if any Borrower, through acts or omissions, causes or permits Account Debtors
to send payments other than to the Lockbox or Lockbox Accounts or if any Borrower fails to promptly deposit collections of Accounts or
proceeds of other Borrowing Base Collateral in the Lockbox Account as herein required. Accordingly, in addition to all other rights and
remedies of Agent and Lenders hereunder, Agent shall have the right to seek specific performance of the Borrowers’ obligations under
this Section, and any other equitable relief as Agent may deem necessary or appropriate, and Borrowers waive any requirement for the posting
of a bond in connection with such equitable relief.

 

(g)            Borrowers
shall not, and Borrowers shall not suffer or permit any Credit Party to, (i) withdraw any amounts from any Lockbox Account, (ii) change
the procedures or sweep instructions under the agreements governing any Lockbox Accounts, or (iii) send to or deposit in any Lockbox
Account any funds other than payments made with respect to and proceeds of Accounts or other Borrowing Base Collateral. Borrowers shall,
and shall cause each Credit Party to, cooperate with Agent in the identification and reconciliation on a daily basis of all amounts received
in or required to be deposited into the Lockbox Accounts. If more than five percent (5%) of the collections of Accounts received by Borrowers
during any given thirty (30) day period is not identified or reconciled to the reasonable satisfaction of Agent within thirty (30) Business
Days of receipt, Agent shall not be obligated to make further advances under this Agreement until such amount is identified or is reconciled
to the reasonable satisfaction of Agent, as the case may be. In addition, if any such amount cannot be identified or reconciled to the
reasonable satisfaction of Agent, Agent may utilize its own staff or, if it deems necessary, engage an outside auditor, in either case
at Borrowers’ expense (which in the case of Agent’s own staff shall be in accordance with Agent’s then prevailing customary
charges (plus expenses)), to make such examination and report as may be necessary to identify and reconcile such amount.

 

(h)            If
any Borrower breaches its obligation to direct payments of the proceeds of the Borrowing Base Collateral to the Lockbox Account, Agent,
as the irrevocably made, constituted and appointed true and lawful attorney for Borrowers, may, by the signature or other act of any of
Agent’s authorized representatives (without requiring any of them to do so), direct any Account Debtor to pay proceeds of the Borrowing
Base Collateral to Borrowers by directing payment to the Lockbox Account.

 

Section 2.12     Termination;
Restriction on Termination.

 

(a)     Termination
by Lenders. In addition to the rights set forth in Section 10.2, Agent
may, and at the direction of Required Lenders shall, terminate this Agreement without notice upon or after the occurrence and during the
continuance of an Event of Default.

 

(b)     Termination
by Borrowers. Upon at least five (5) days’ prior written
notice, Borrowers may, at their option, terminate this Agreement; provided, however, that no such termination shall be
effective until Borrowers have (i) paid or collateralized to Agent’s reasonable satisfaction all of the Obligations in
immediately available funds, all Letters of Credit and Support Agreements have expired, terminated or have been cash collateralized
to Agent’s satisfaction, (ii) complied with Section 2.12(c) and the terms of any Fee Letter. Any notice of
termination given by Borrowers shall be irrevocable unless all Lenders otherwise agree in writing and no Lender shall have any
obligation to make any Loans on or after the termination date stated in such notice; provided, however, that Borrowers
may rescind any notice of termination relative to proposed payments in full of the Obligations with the proceeds of third party Debt
if the closing for such issuance or incurrence does not happen on or before the date of the proposed termination (in which case, a
new notice shall be required to be sent in connection with any subsequent termination. Borrowers may elect to terminate this
Agreement in its entirety only. No section of this Agreement or type of Loan available hereunder may be terminated singly.

 

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(c)     Effectiveness
of Termination. All of the Obligations shall be immediately due and payable
upon the Termination Date. All undertakings, agreements, covenants, warranties and representations of Borrowers contained in the Financing
Documents shall survive any such termination and Agent shall retain its Liens in the Collateral and Agent and each Lender shall retain
all of its rights and remedies under the Financing Documents notwithstanding such termination until all Obligations (other than contingent
and indemnification obligations for which no claim has been made) have been discharged or paid, in full, in immediately available funds,
including, without limitation, all Obligations under Section 2.2 and the terms of any Fee Letter resulting from such termination.
When all of the Obligations have been paid in full, all Letters of Credit have been cash collateralized in accordance with the terms hereof
and all Revolving Loan Commitments have been terminated, Agent will, subject to the terms of any payoff letter agreement, at Borrowers’
sole expense, execute and deliver any termination statements, lien releases, discharges of security interests, and other similar discharge
or release documents (and, if applicable, in recordable form) as are reasonably necessary to release, as of record, Agent’s Liens
and all notices of security interests and liens previously filed by Agent. Notwithstanding the foregoing or the payment in full of the
Obligations, Agent shall not be required to terminate its Liens in the Collateral unless, with respect to any loss or damage Agent may
incur as a result of dishonored checks or other items of payment received by Agent from Borrower or any Account Debtor and applied to
the Obligations, Agent shall, at its option, (i) have received a written agreement satisfactory to Agent, executed by Borrowers and
by any Person whose loans or other advances to Borrowers are used in whole or in part to satisfy the Obligations, indemnifying Agent and
each Lender from any such loss or damage or (ii) have retained cash Collateral or other Collateral for such period of time as Agent,
in its discretion, may deem necessary to protect Agent and each Lender from any such loss or damage.

 

ARTICLE 3 - - REPRESENTATIONS AND WARRANTIES

 

To induce Agent and Lenders
to enter into this Agreement and to make the Loans and other credit accommodations contemplated hereby, each Credit Party hereby represents
and warrants to Agent and each Lender that:

 

Section 3.1     Existence
and Power. Each Credit Party is (a) an entity as specified on Schedule 3.1, (b) is duly organized or formed,
validly existing and in good standing under the laws of the jurisdiction specified on Schedule 3.1 and no other jurisdiction,
(c) has the same legal name as it appears in such Credit Party’s Organizational Documents and an organizational identification
number (if any), in each case as specified on Schedule 3.1, (d) has all requisite powers to own its own assets and has
all requisite Permits necessary in the operation of its business as presently conducted, except where the failure to have such powers
or Permits could not reasonably be expected to have a Material Adverse Effect, and (e) is qualified to do business as a foreign entity
in each jurisdiction in which it is required to be so qualified, which jurisdictions as of the Closing Date are specified on Schedule 3.1,
except in the case of clause (e) of this section where the failure to be so qualified could not reasonably be expected to have a
Material Adverse Effect. Except as set forth on Schedule 3.1, no Credit Party (x) has had, over the five (5) year
period preceding the Closing Date, any name other than its current name, or (y) was incorporated or organized under the laws of any
jurisdiction other than its current jurisdiction of incorporation or organization.

 

Section 3.2     Organization
and Governmental Authorization; No Contravention. The execution, delivery and performance by each Credit Party of the Operative
Documents to which it is a party are (a) within its powers, (b) have been duly authorized by all necessary action pursuant
to its Organizational Documents, (c) require no further action by or in respect of, or filing with, any Governmental Authority
and (d) do not violate, conflict with or cause a breach or a default under (i) any Law applicable to any Credit Party or
(ii) any of the Organizational Documents of any Credit Party, or (iii) any agreement or instrument binding upon it, except
for such violations, conflicts, breaches or defaults as could not, with respect to this clause (iii), reasonably be expected to
have a Material Adverse Effect.

 

Section 3.3     Binding
Effect. Each of the Operative Documents to which any Credit Party is a party constitutes a valid and binding agreement or instrument
of such Credit Party, enforceable against such Credit Party in accordance with its respective terms, except as the enforceability thereof
may be limited by bankruptcy, insolvency or other similar laws relating to the enforcement of creditors’ rights generally and by
general equitable principles. Each Operative Document has been duly executed and delivered by each Credit Party that is party thereto.

 

Section 3.4     Capitalization.
The authorized equity securities of each of the Credit Parties as of March 31, 2021 are as set forth on Schedule 3.4.
All issued and outstanding equity securities of each of the Credit Parties are duly authorized and validly issued, fully paid, nonassessable,
free and clear of all Liens other than those in favor of Agent for the benefit of Agent and Lenders and Permitted Liens, and such equity
securities were issued in compliance with all applicable Laws. The identity of the holders of the equity securities of each of the Credit
Parties and the percentage of their fully-diluted ownership of the equity securities of each of the Credit Parties as of March 31,
2021 is set forth on Schedule 3.4. No shares of the capital stock or other equity securities of any Credit Party, other than
those described above, are actually issued and outstanding as of March 31, 2021. Except as set forth on Schedule 3.4,
as of the Closing Date there are no preemptive or other outstanding rights, options, warrants, conversion rights or similar agreements
or understandings for the purchase or acquisition from any Credit Party of any equity securities of any such entity.

 

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Section 3.5     Financial
Information.

 

(a)            All
information delivered to Agent and pertaining to the financial condition of and prepared by or on behalf of any Credit Party fairly presents
in all material respects the financial position of such Credit Party as of such date in conformity with GAAP (and as to unaudited financial
statements, subject to normal year-end adjustments and the absence of footnote disclosures).

 

(b)            Since
January 31, 2021, nothing has occurred involving the Company’s business that has had, or will have, a Material Adverse Effect.

 

Section 3.6     Litigation.
Except as set forth on Schedule 3.6 as of the Closing Date, and except as hereafter disclosed to Agent in writing, there
is no Litigation pending against, or to the knowledge of such Credit Party’s Responsible Officers, threatened in writing against
or affecting, any Credit Party or, to the knowledge of such Credit Party’s Responsible Officers, any party to any Operative Document
other than a Credit Party. There is no Litigation pending against any Credit Party in which an adverse decision will have a Material
Adverse Effect or which in any manner draws into question the validity of any of the Operative Documents.

 

Section 3.7     Ownership
of Property. Each Credit Party and each of its Subsidiaries is the lawful owner of, has good and marketable title to and is in lawful
possession of, or has valid leasehold interests in, all properties, accounts and other assets (real or personal, tangible, intangible
or mixed) purported or reported to be owned or leased (as the case may be) by such Person.

 

Section 3.8     No
Default. No Event of Default, or to the knowledge of such Credit Party’s Responsible Officers, Default, has occurred and is
continuing. No Credit Party is in breach or default under or with respect to any contract, agreement, lease or other instrument to which
it is a party or by which its property is bound or affected, which breach or default will have a Material Adverse Effect.

 

Section 3.9     Labor
Matters. As of the Closing Date, there are no strikes or other labor disputes pending or, to the knowledge of any Credit
Party’s Responsible Officers, threatened in writing against any Credit Party. Except as could not reasonably be expected,
individually or in the aggregate, to have a Material Adverse Effect, (i) hours worked and payments made to the employees of the
Credit Parties have not been in violation of the Fair Labor Standards Act or any other applicable Law dealing with such matters and
(ii) all payments due from the Credit Parties, or for which any claim may be made against any of them, on account of wages and
employee and retiree health and welfare insurance and other benefits have been paid or accrued as a liability on their books, as the
case may be. The consummation of the transactions contemplated by the Financing Documents will not give rise to a right of
termination or right of renegotiation on the part of any union under any collective bargaining agreement to which it is a party or
by which it is bound.

 

Section 3.10     Investment
Company Act. No Credit Party is an “investment company” or a company “controlled” by an “investment
company” or a “subsidiary” of an “investment company,” all within the meaning of the Investment Company
Act of 1940.

 

Section 3.11     Margin
Regulations.

 

(a)            The
Credit Parties and their Subsidiaries do not own any stock, partnership interest or other equity securities, except for Permitted Investments.
Without limiting the foregoing, the Credit Parties and their Subsidiaries do not own or hold any Margin Stock.

 

(b)            None
of the proceeds from the Loans have been or will be used, directly or indirectly, for the purpose of purchasing or carrying any “margin
stock” (as defined in Regulation U of the Federal Reserve Board), for the purpose of reducing or retiring any indebtedness which
was originally incurred to purchase or carry any “margin stock” or for any other purpose which might cause any of the Loans
to be considered a “purpose credit” within the meaning of Regulation T, U or X of the Federal Reserve Board.

 

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Section 3.12     Compliance
With Laws; Anti-Terrorism Laws.

 

(a)            Each
Credit Party is in compliance with the requirements of all applicable Laws, except for such Laws the noncompliance with which could not
reasonably be expected to have a Material Adverse Effect.

 

(b)            None
of the Credit Parties and, to the knowledge of the Responsible Officers of the Credit Parties, none of their Affiliates (i) is in
violation of any Anti-Terrorism Law, (ii) engages in or conspires to engage in any transaction that evades or avoids, or has the
purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in any Anti-Terrorism Law, (iii) is a
Blocked Person, or is controlled by a Blocked Person, (iv) is acting or will act for or on behalf of a Blocked Person, (v) is
associated with, or will become associated with, a Blocked Person or (vi) is providing, or will provide, material, financial or
technical support or other services to or in support of acts of terrorism of a Blocked Person. No Credit Party nor, to the knowledge
of the Responsible Officers of any Credit Party, any of its Affiliates or agents acting or benefiting in any capacity in connection with
the transactions contemplated by this Agreement, (A) conducts any business or engages in making or receiving any contribution of
funds, goods or services to or for the benefit of any Blocked Person, or (B) deals in, or otherwise engages in any transaction relating
to, any property or interest in property blocked pursuant to Executive Order No. 13224, any similar executive order or other Anti-Terrorism
Law.

 

Section 3.13     Taxes.
All federal, state and material local tax returns, reports and statements required to be filed by or on behalf of each Credit Party have
been filed with the appropriate Governmental Authorities in all jurisdictions in which such returns, reports and statements are required
to be filed and, except to the extent subject to a Permitted Contest, all Taxes (including real property Taxes) and other charges shown
to be due and payable in respect thereof have been timely paid prior to the date on which any fine, penalty, interest, late charge or
loss may be added thereto for nonpayment thereof. Except to the extent subject to a Permitted Contest, all material state and local sales
and use Taxes required to be paid by each Credit Party have been paid. All federal and state returns have been filed by each Credit Party
for all periods for which returns were due with respect to employee income tax withholding, social security and unemployment taxes, and,
except to the extent subject to a Permitted Contest, the amounts shown thereon to be due and payable have been paid in full or adequate
provisions therefor have been made.

 

Section 3.14     Compliance
with ERISA.

 

(a)            Except
as would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect, each Credit Party and each
Subsidiary is in compliance with the applicable provisions of ERISA and the provisions of the Code relating to ERISA Plans and the regulations
and published interpretations therein. With respect to each ERISA Plan which is intended to be qualified under Section 401(a) of
the Code is so qualified, and the United States Internal Revenue Service has issued a favorable determination letter with respect to
each such ERISA Plan which may be relied on currently. Except as could not reasonably be expected, individually or in the aggregate,
to have a Material Adverse Effect no Credit Party has incurred liability for any material excise tax under any of Sections 4971
through 5000 of the Code.

 

(b)            During
the thirty-six (36) month period prior to the Closing Date or the making of any Loan or the issuance of any Letter of Credit, (i)  no
contribution failure has occurred with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k) of
ERISA or Section 430(k) of the Code and no event has occurred that would give rise to a Lien under Section 4068 of ERISA;
and (ii) except as would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect : (A) no
steps have been taken to terminate any Pension Plan, (B) no condition exists or event or transaction has occurred with respect to
any Pension Plan which could result in the incurrence by any Credit Party of any material liability, fine or penalty; (C) no Credit
Party has incurred liability to the PBGC (other than for current premiums) with respect to any employee Pension Plan; (D) all contributions
(if any) have been made on a timely basis to any Multiemployer Plan that are required to be made by any Credit Party or any other member
of the Controlled Group under the terms of the plan or of any collective bargaining agreement or by applicable Law; (E) no Credit
Party nor any member of the Controlled Group has withdrawn or partially withdrawn from any Multiemployer Plan, incurred any withdrawal
liability with respect to any such plan or received notice of any claim or demand for withdrawal liability or partial withdrawal liability
from any such plan, and no condition has occurred which, if continued, could result in a withdrawal or partial withdrawal from any such
plan, and (F) no Credit Party nor any member of the Controlled Group has received any notice that any Multiemployer Plan is in reorganization,
that increased contributions may be required to avoid a reduction in plan benefits or the imposition of any excise tax, that any such
plan is or has been funded at a rate less than that required under Section 412 of the Code, that any such plan is or may be terminated,
or that any such plan is or may become insolvent.

 

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Section 3.15     Brokers.
Except for fees payable to Agent and/or Lenders and to Guggenheim Securities LLC, no broker, finder or other intermediary has brought
about the obtaining, making or closing of the transactions contemplated by the Operative Documents, and no Credit Party has or will have
any obligation to any Person in respect of any finder’s or brokerage fees, commissions or other expenses in connection herewith
or therewith.

 

Section 3.16     Consummation
of Operative Documents. All transactions contemplated by the Operative Documents to be consummated on or prior to the date hereof
have been so consummated (including, without limitation, the disbursement and transfer of all funds in connection therewith) in all material
respects pursuant to the provisions of the applicable Operative Documents, true and complete copies of which have been delivered to Agent,
and in compliance with all applicable Law, except for such Laws the noncompliance with which would not reasonably be expected to have
a Material Adverse Effect.

 

Section 3.17     Material
Contracts. Except for the Operative Documents and the other agreements set forth on Schedule 3.17, as of the Closing
Date there are no (a) (i) employment agreements covering the management of any Credit Party, (ii) collective
bargaining agreements or other similar labor agreements covering any employees of any Credit Party, (iii)  agreements to which
any Credit Party is a party or by which it is bound, (iv) agreements regarding any Credit Party, its assets or operations or
any investment therein to which any of its preferred stock holders is a party or by which it is bound, (v) real estate
leases, Intellectual Property licenses or other lease or license agreements to which any Credit Party is a party, either as
lessor or lessee, or as licensor or licensee (other than licenses arising from the purchase of “off the shelf” products
and other than non-exclusive licenses granted to customers in the Ordinary Course of Business), (vi) customer, distribution,
marketing or supply agreements to which any Credit Party is a party, in each case of this clause (a), requiring payment of more than
$1,000,000 per each agreement, license or lease each in any year, (b) partnership agreements to which any Credit Party is a
general partner or joint venture agreements to which any Credit Party is a party, (c) third party billing arrangements to which
any Credit Party is a party, (d) any Broker/Carrier Agreements that departs in any material respect from the form attached
hereto as Exhibit E, or (e) to the extent that the breach, nonperformance or cancellation of which, or the failure
of which to renew, will have a Material Adverse Effect, any other agreements or instruments to which any Credit Party is a party,
(clauses (a) through (e), together with the Operative Documents and the documents set forth on Schedule 3.17, each, a
 “Material Contract” and, collectively, the “Material Contracts”). Schedule 3.17
sets forth, with respect to each real estate lease agreement to which any Credit Party is a party (as a lessee) as of the Closing
Date, the address of the subject property and the annual rental (or, where applicable, a general description of the method of
computing the annual rental) as of the Closing Date. The consummation of the transactions contemplated by the Financing Documents
will not give rise to a right of termination in favor of any party to any Material Contract (other than any Credit Party), except
for such Material Contracts the noncompliance with which would not reasonably be expected to have a Material Adverse Effect.

 

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Section 3.18     Compliance
with Environmental Requirements; No Hazardous Materials.

 

Except in each case as set forth on Schedule 3.18:

 

(a)            except
as would not reasonably be expected to have a Material Adverse Effect, no notice, notification, demand, request for information, citation,
summons, complaint or order has been issued, no complaint has been filed, no penalty has been assessed and no investigation or review
is pending, or to such Credit Party’s actual knowledge, threatened by any Governmental Authority or other Person with respect to
any (i) alleged violation by any Credit Party of any Environmental Law, (ii) alleged failure by any Credit Party to have any
Permits required in connection with the conduct of its business or to comply with the terms and conditions thereof, (iii) any generation,
treatment, storage, recycling, transportation or disposal of any Hazardous Materials, or (iv) release of Hazardous Materials; and

 

(b)            except
as would not reasonably be expected to have a Material Adverse Effect, no property now owned or leased by any Credit Party and, to the
actual knowledge of each Credit Party, no such property previously owned or leased by any Credit Party, to which any Credit Party has,
directly or indirectly, transported or arranged for the transportation of any Hazardous Materials, is listed or, to such Credit Party’s
knowledge, proposed for listing, on the National Priorities List promulgated pursuant to CERCLA, or CERCLIS (as defined in CERCLA) or
any similar state list or is the subject of federal, state or local enforcement actions or, to the knowledge of such Credit Party, other
investigations which may lead to claims against any Credit Party for clean-up costs, remedial work, damage to natural resources or personal
injury claims, including, without limitation, claims under CERCLA.

 

For purposes of this Section 3.18,
each Credit Party shall be deemed to include any business or business entity (including a corporation) that is, in whole or in part,
a predecessor of such Credit Party.

 

Section 3.19     Intellectual
Property. Each Credit Party owns, is licensed to use or otherwise has the right to use, all Intellectual Property that is
material to the condition (financial or other), business or operations of such Credit Party, except where the absence of such
ownership or rights would not reasonably be expected to have a Material Adverse Effect. All Intellectual Property owned by any
Credit Party and existing as of the Closing Date which is issued, registered or pending with any United States or foreign
Governmental Authority (including, without limitation, any and all applications for the registration of any such Intellectual
Property with any such United States or foreign Governmental Authority) and, to the knowledge of the Responsible Officers of each
Credit Party, all licenses under which any Credit Party is the exclusive licensee of any such registered Intellectual Property (or
any such application for the registration of Intellectual Property) owned by another Person are set forth on Schedule 3.19.
Such Schedule 3.19 indicates in each case whether such registered Intellectual Property (or application therefor) is
owned or exclusively licensed by such Credit Party. Except as indicated on Schedule 3.19, the applicable Credit Party is
the sole and exclusive owner of the entire and unencumbered right, title and interest in and to each such registered Intellectual
Property (or application therefor) purported to be owned by such Credit Party, free and clear of any Liens and/or licenses in favor
of third parties or agreements or covenants not to sue such third parties for infringement other than non-exclusive licenses granted
in the Ordinary Course of Business. All registered Intellectual Property of each Credit Party is duly and properly registered, filed
or issued in the appropriate office and jurisdictions for such registrations, filings or issuances, except where the failure to do
so would not reasonably be expected to have a Material Adverse Effect. To the knowledge of each Credit Party, no Credit Party is
party to, nor bound by, any material license agreement with respect to which any Credit Party is the licensee that prohibits or
otherwise restricts such Credit Party from granting a security interest in such Credit Party’s interest in such license
agreement. To the knowledge of each Credit Party conducts its business without infringement or claim of infringement of any
Intellectual Property rights of others and there is no infringement or claim of infringement by others of any Intellectual Property
rights of any Credit Party, which infringement or claim of infringement would reasonably be expected to have a Material Adverse
Effect.

 

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Section 3.20     Solvency.
After giving effect to the Loan advance and the liabilities and obligations of each Credit Party under the Operative Documents, the Borrowers
and each additional Credit Party, on a consolidated basis, are Solvent.

 

Section 3.21     Full
Disclosure. To the knowledge of the Credit Parties, none of the written information furnished by and prepared by or on behalf of
any Credit Party to Agent or any Lender in connection with the consummation of the transactions contemplated by the Operative Documents,
contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements contained herein
or therein not misleading in light of the circumstances under which such statements were made. All financial projections delivered to
Agent and the Lenders and prepared by Credit Parties (or their agents) have been prepared on the basis of the assumptions stated therein.
Such projections represent each Credit Party’s good faith estimate of such Credit Party’s future financial performance and
such assumptions are believed by such Credit Party to be fair and reasonable in light of current business conditions; provided,
however, that Credit Parties are not representing or warranting that such projections can or will be attained.

 

Section 3.22     Interest
Rate. Subject to Section 2.7, the rate of interest paid under this Agreement and the method and manner of the calculation thereof
do not violate any usury or other law or applicable Laws, any of the Organizational Documents, or any of the Operative Documents.

 

Section 3.23     Subsidiaries.
Credit Parties do not own any stock, partnership interests, limited liability company interests or other equity securities or Subsidiaries
except for Permitted Investments.

 

Section 3.24     Accounts.     As
to each Account that is identified by Borrowers as an Eligible Account, Eligible Pre Audit Account or an Eligible Unbilled Account in
a Borrowing Base Certificate submitted to Agent, as of the date of such Borrowing Base Certificate, such Account is (i) a bona fide
existing payment obligation of the applicable Account Debtor created by the sale and delivery of Inventory or the rendition of services
to such Account Debtor in the Ordinary Course of Business of the applicable Borrower, (ii) owed to the applicable Borrower without
any known defenses, disputes, offsets, counterclaims, or rights of return or cancellation, and (iii) not excluded as ineligible
by virtue of one or more of the excluding criteria set forth in the definition of Eligible Account, Eligible Pre Audit Account or an
Eligible Unbilled Account, as applicable.

 

Section 3.25     Senior
Indebtedness Status. The Obligations of each Credit Party under this Agreement and each of the other Financing Documents ranks and
shall continue to rank at least senior in priority of payment to all Debt that is contractually subordinated to the Obligations of each
such Person under this Agreement (except as otherwise permitted in any applicable Subordination Agreement) and is designated as “Senior
Indebtedness” (or an equivalent term) under all instruments and documents, now or in the future, relating to all Debt that is contractually
subordinated to the Obligations under this Agreement of each such Person.

 

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ARTICLE 4 - - AFFIRMATIVE COVENANTS

 

Each Credit Party agrees
that:

 

Section 4.1     Financial
Statements and Other Reports. Each Credit Party will deliver to Agent:

 

(a)            as
soon as available, but no later than thirty (30) days after the last day of each month, (i) a company prepared unaudited consolidated
balance sheet, cash flow and income statement (including year-to-date results) covering , prior to the Permitted Reorganization, TFX’s
and its Consolidated Subsidiaries’, and on and after the Permitted Reorganization, Holdings and its Consolidated Subsidiaries’,
consolidated operations during the period, prepared under GAAP, consistently applied, setting forth in comparative form the corresponding
figures as at the end of the corresponding month of the previous fiscal year and the projected figures for such period based upon the
projections required hereunder, all in reasonable detail, certified by a Responsible Officer and in a form acceptable to Agent; and (ii) evidence
of payment and satisfaction of all payroll, withholding and similar taxes due and owing by all Credit Parties with respect to the payroll
period(s) occurring during such month;

 

(b)            as
soon as available, but no later than one hundred eighty (180) days after the last day of Credit Party’s fiscal year, audited consolidated
financial statements prepared under GAAP, consistently applied, together with an unqualified opinion on the financial statements from
an independent certified public accounting firm reasonably acceptable to Agent;

 

(c)            within
five (5) Business Days of delivery or filing thereof, copies of all statements, reports and notices made available to Credit Parties’
security holders or to any holders of Subordinated Debt and copies of all reports and other filings made by any Credit Party with any
stock exchange on which any securities of any Credit Party are traded and/or the SEC;

 

(d)            promptly
(but in any event within ten (10) days of any request therefor) budgets, sales projections, operating plans and other financial
information and information, reports or statements regarding the Credit Parties, their business and the Collateral that may be readily
prepared from information on-hand without undue time or expense as Agent may from time to time reasonably request;

 

(e)            together
with the monthly financial statements described in clause (a) above, a duly completed Compliance Certificate signed by a Responsible
Officer setting forth calculations showing monthly cash and cash equivalents of the Credit Parties and their Consolidated Subsidiaries
and compliance with the covenants set forth in this Agreement, including Liquidity and the amount of funds on deposit in the Cash Collateral
Account as of the last day of such month;

 

(f)            within
twenty (20) days after the last day of each month, deliver to Agent a duly completed Borrowing Base Certificate signed by a Responsible
Officer, with aged listings of accounts receivable (by delivery date), Liquidity and the amount of funds on deposit in the Cash Collateral
Account as of the last day of such month;

 

(g)            every
ninety (90) days on a schedule to be designated by Agent, and at such other times as Agent shall request, a schedule of Eligible
Accounts, Eligible Pre Audit Accounts or Eligible Unbilled Accounts denoting, the thirty (30) largest Account Debtors during such quarter,
such Account Debtor’s credit rating(s), if any, as rated by A.M. Best Company, Standard & Poor’s Corporation,
Moody’s Investors Service, Inc., FITCH, Inc. or other applicable rating agent;

 

(h)            within
thirty (30) days after the start of each fiscal year, projections for such fiscal year, on a quarterly basis for the current year and
on an annual basis for the subsequent year;

 

(i)            promptly
after the request by any Lender, all documentation and other information that such Lender reasonably requests in order to comply with
its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations, including,
without limitation, the USA PATRIOT Act; and

 

(j)            promptly,
but in any event within five (5) Business Days, after any Responsible Officer of any Credit Party obtains knowledge of the
occurrence of any event or change that has resulted or would result in, either in any case or in the aggregate, a Material Adverse
Effect, a certificate of a Responsible Officer specifying the nature and period of existence of any such event or change, or
specifying the notice given or action taken by such holder or Person and the nature of such event or change, and what action the
applicable Credit Party or Subsidiary has taken, is taking or proposes to take with respect thereto.

 

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Section 4.2     Payment
and Performance of Obligations. Each Credit Party (a) will pay and discharge, and cause each Subsidiary to pay and discharge,
on a timely basis as and when due, all of their respective obligations and liabilities, except for such obligations and/or liabilities
(i) that may be the subject of a Permitted Contest, and (ii) the nonpayment or nondischarge of which would not reasonably be
expected to have a Material Adverse Effect or result in a Lien against any Collateral, except for Permitted Liens, (b) without limiting
anything contained in the foregoing clause (a), pay all amounts due and owing in respect of Taxes (including without limitation,
payroll and withholdings tax liabilities) on a timely basis as and when due, and in any case prior to the date on which any fine, penalty,
interest, late charge or loss may be added thereto for nonpayment thereof except as could not reasonably be expected to exceed $500,000
in liability in the aggregate at any time, (c) will maintain, and cause each Subsidiary to maintain, in accordance with GAAP, appropriate
reserves for the accrual of all of their respective obligations and liabilities, and (d) will not breach or permit any Subsidiary
to breach, or permit to exist any default under, the terms of any lease, commitment, contract, instrument or obligation to which it is
a party, or by which its properties or assets are bound, except for such breaches or defaults which would not have a Material Adverse
Effect.

 

Section 4.3     Maintenance
of Existence. Each Credit Party will preserve, renew and keep in full force and effect and in good standing, and will cause each
Subsidiary to preserve, renew and keep in full force and effect and in good standing, their (a) respective existence except (i) as
permitted under Section 5.6 and (ii) so long as no Event of Default is continuing, any Subsidiary that is not a Credit Party
may dissolve so long as its remaining assets are transferred to its direct parent, and (b) their respective rights, privileges and
franchises necessary in the normal conduct of business.

 

Section 4.4     Maintenance
of Property; Insurance.

 

(a)            Each
Credit Party will keep, and will cause each Subsidiary to keep, all property useful and necessary in its business in good working order
and condition, ordinary wear and tear excepted. If all or any material part of the Collateral useful or necessary in its business, or
upon which any Borrowing Base is calculated, becomes damaged or destroyed, each Credit Party will, and will cause each Subsidiary to,
promptly and completely repair and/or restore the affected Collateral in a good and workmanlike manner, regardless of whether Agent agrees
to disburse insurance proceeds or other sums to pay costs of the work of repair or reconstruction.

 

(b)            Upon
completion of any Permitted Contest, Credit Parties shall, and will cause each Subsidiary to, timely pay the amount due, if any (after
taking into consideration any applicable insurance), and upon request of the Agent, deliver to Agent proof of the completion of the contest
and payment of the amount due, if any.

 

(c)            Each
Credit Party will maintain (i) casualty insurance on all real and personal property on an all risks basis (including the perils
of flood, windstorm and quake), covering the repair and replacement cost of all such property and coverage, business interruption and
rent loss coverages with extended period of indemnity (for the period required by Agent from time to time) and indemnity for extra expense,
in each case without application of coinsurance and with agreed amount endorsements, (ii) general and professional liability insurance
(including products/completed operations liability coverage), and (iii) such other insurance coverage in each case 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
as are customarily carried under similar circumstances by such other Persons;. All such insurance shall be provided by insurers having
an A.M. Best policyholders rating reasonably acceptable to Agent.

 

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(d)            On
or prior to the Closing Date, and at all times thereafter, each Credit Party will cause Agent to be named as an additional insured,
assignee and lender loss payee (which shall include, as applicable, identification as mortgagee), as applicable, on each insurance
policy required to be maintained pursuant to this Section 4.4 pursuant to endorsements in form and substance acceptable to
Agent. Credit Parties shall deliver to Agent and the Lenders (i) on the Closing Date, a certificate from Credit Parties’
insurance broker dated such date showing the amount of coverage as of such date, and that such policies will include effective
waivers (whether under the terms of any such policy or otherwise) by the insurer of all claims for insurance premiums against all
loss payees and additional insureds and all rights of subrogation against all loss payees and additional insureds, and that if all
or any part of such policy is canceled, terminated or expires, the insurer will forthwith give notice thereof to each additional
insured, assignee and loss payee and that no cancellation, reduction in amount or material change in coverage thereof shall be
effective until at least thirty (30) days after receipt by each additional insured, assignee and loss payee of written notice
thereof, (ii) on an annual basis, and upon the request of any Lender through Agent from time to time full information as to the
insurance carried, (iii) within five (5) days of receipt of notice from any insurer, a copy of any notice of cancellation,
nonrenewal or material change in coverage from that existing on the date of this Agreement, (iv) forthwith, notice of any
cancellation or nonrenewal of coverage by any Credit Party, and (v) at least sixty (60) days prior to expiration of any policy
of insurance, evidence of renewal of such insurance upon the terms and conditions herein required.

 

(e)            In
the event any Credit Party fails to provide Agent with evidence of the insurance coverage required by this Agreement, Agent may purchase
insurance at Credit Parties’ expense to protect Agent’s interests in the Collateral. This insurance may, but need not, protect
such Credit Party’s interests. The coverage purchased by Agent may not pay any claim made by such Credit Party or any claim that
is made against such Credit Party in connection with the Collateral. Such Credit Party may later cancel any insurance purchased by Agent,
but only after providing Agent with evidence that such Credit Party has obtained insurance as required by this Agreement. If Agent purchases
insurance for the Collateral, Credit Parties will be responsible for the costs of that insurance to the fullest extent provided by law,
including interest and other charges imposed by Agent in connection with the placement of the insurance, until the effective date of
the cancellation or expiration of the insurance. The costs of the insurance may be added to the Obligations. The costs of the insurance
may be more than the cost of insurance such Credit Party is able to obtain on its own.

 

Section 4.5     Compliance
with Laws and Material Contracts. Each Credit Party will comply, and cause each Subsidiary to comply, with the requirements of all
applicable Laws and Material Contracts, except to the extent that failure to so comply would not reasonably be expected to (a) have
a Material Adverse Effect, or (b) result in any Lien (other than Permitted Liens) upon either (i) a material portion of the
assets of any such Person in favor of any Governmental Authority, or (ii) any Borrowing Base Collateral which is part of the Borrowing
Base.

 

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Section 4.6     Inspection
of Property, Books and Records. Each Credit Party will keep, and will cause each Subsidiary to keep, proper books of record substantially
in accordance with GAAP in which full, true and correct entries shall be made of all dealings and transactions in relation to its business
and activities; and will permit, and will cause each Subsidiary to permit, at the sole cost of the applicable Credit Party or any applicable
Subsidiary, representatives of Agent and of any Lender to visit and inspect any of their respective properties, to examine and make abstracts
or copies from any of their respective books and records, to conduct a collateral audit and analysis of their respective operations and
the Collateral, to evaluate and make physical verifications and appraisals of the Inventory and other Collateral in any manner and through
any medium that Agent considers advisable, to verify the amount and age of the Accounts, the identity and credit of the respective Account
Debtors, to review the billing practices of Credit Parties and to discuss their respective affairs, finances and accounts with their
respective officers, employees and independent public accountants as often as may reasonably be desired. Notwithstanding the foregoing,
unless a Default or Event of Default has occurred and is continuing, (x) during the period commencing on the Closing Date and ending
on the first anniversary of the Closing Date, such collateral audits shall not occur more than four (4) times during such twelve-month
period, (y) during the period commencing on the first anniversary of the Closing Date and ending on the second anniversary of the
Closing Date, such inspections shall not occur more than three (3) times during such period, and (z) during any period of twelve
consecutive months thereafter, such inspections shall not occur more than two (2) times during such twelve-month period. In the
absence of a Default or an Event of Default, Agent or any Lender exercising any rights pursuant to this Section 4.6 shall give the
applicable Credit Party or any applicable Subsidiary commercially reasonable prior notice of such exercise and conduct such visit or
inspection during regular business hours. No notice shall be required during the existence and continuance of any Default or any time
during which Agent reasonably believes a Default exists.

 

Section 4.7     Use
of Proceeds. Borrowers shall use the proceeds of Revolving Loans solely for (a) transaction fees incurred in connection
with the Financing Documents, (b) repayment of the obligations under and termination of the lenders’ obligations to lend
under that certain Amended and Restated Loan and Security Agreement, dated as of May 20, 2019, between Silicon Valley Bank,
Borrower, and (ii) that certain Plain English Growth Capital Loan and Security Agreement, dated as of May 31, 2019,
between Triple Point Venture Growth and Borrower, and (c) for working capital needs and general corporate purposes of Borrowers
and their Subsidiaries, including, without limitation, Permitted Acquisitions. No portion of the proceeds of the Loans will be used
for family, personal, agricultural or household use.

 

Section 4.8     Estoppel
Certificates. After written request by Agent, which, so long as no Event of Default has occurred and is continuing, shall be limited
to one (1) such report per fiscal year of Credit Parties, Credit Parties, within twenty (20) days and at their expense, will furnish
Agent with a statement, duly acknowledged and certified, setting forth (a) the amount of the original principal amount of the Notes,
and the unpaid principal amount of the Notes, (b) the rate of interest of the Notes, (c) the date payments of interest and/or
principal were last paid, (d) any offsets or defenses to the payment of the Obligations, and if any are alleged, the nature thereof,
(e) that the Notes and this Agreement have not been modified or if modified, giving particulars of such modification, and (f) that
there has occurred and is then continuing no Default or if such Default exists, the nature thereof, the period of time it has existed,
and the action being taken to remedy such Default; provided that Agent shall have provided the Register to Credit Party, upon
such Credit Party’s request, prior to Credit Party being required to furnish such statement to Agent. After written request by
Agent, which, so long as no Event of Default has occurred and is continuing, shall be limited to one (1) such report per twelve
(12) month period, Credit Parties, within twenty (20) days and at their expense, will furnish Agent with a certificate, signed by a Responsible
Officer of Credit Parties, updating all of the representations and warranties contained in this Agreement and the other Financing Documents
and certifying that all of the representations and warranties contained in this Agreement and the other Financing Documents, as updated
in accordance with this Agreement and the other Financing Documents from time to time, are true, accurate and complete in all material
respects as of the date of such certificate (except to the extent such representation or warranty expressly relates to an earlier date,
in which case such representation or warranty shall be true, accurate and complete in all material respects as of such earlier date).

 

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Section 4.9     Notices
of Litigation and Defaults. Credit Parties shall promptly (but in any event within 10 days) provide written notice to Agent (a) of
any litigation or governmental proceedings pending or threatened (in writing) against Borrowers or other Credit Party which would reasonably
be expected to have a Material Adverse Effect with respect to Borrowers or any other Credit Party or which in any manner calls into question
the validity or enforceability of any Financing Document, (b) upon any Responsible Officer of any Credit Party becoming aware of
the existence of any Default or Event of Default, (c) if any Credit Party is in breach or default under or with respect to any Material
Contract, or if any Credit Party is in breach or default under or with respect to any other contract, agreement, lease or other instrument
to which it is a party or by which its property is bound or affected, which breach or default would reasonably be expected to have a
Material Adverse Effect, (d) of any strikes or other labor disputes pending or, to any Credit Party’s knowledge, threatened
in writing against any Credit Party, (e) if there is any infringement or claim of infringement by any other Person with respect
to any Intellectual Property rights of any Credit Party that would reasonably be expected to have a Material Adverse Effect, or if there
is any claim by any other Person that any Credit Party in the conduct of its business is infringing on the rights of others in respect
of Intellectual Property, and (f) of all bona fide disputes and claims that involve more than the then-applicable Payment Condition
Toggle Amount. Credit Parties represent and warrant that Schedule 4.9 sets forth a complete list of all material matters existing
as of the Closing Date for which notice would be required under this Section as of the Closing Date.

 

Section 4.10     Hazardous
Materials; Remediation.

 

(a)            If
any release or disposal of Hazardous Materials on any real property or any other assets of any Borrower or any other Credit Party, such
Credit Party will cause, or direct the applicable Credit Party to cause, the prompt containment and removal of such Hazardous Materials
and the remediation of such real property or other assets as is necessary to comply with all Environmental Laws and to preserve the value
of such real property or other assets. Without limiting the generality of the foregoing, each Credit Party shall, and shall cause each
other Credit Party to, comply with each Environmental Law requiring the performance at any real property by any Borrower or any other
Credit Party of activities in response to the release or threatened release of a Hazardous Material.

 

(b)            Credit
Parties will provide Agent within thirty (30) days after written demand therefor with a bond, letter of credit or similar financial assurance
evidencing to the reasonable satisfaction of Agent that sufficient funds are available to pay the cost of removing, treating and disposing
of any Hazardous Materials or Hazardous Materials Contamination and discharging any assessment which may be established on any property
as a result thereof, such demand to be made, if at all, upon Agent’s reasonable business determination that the failure to remove,
treat or dispose of any Hazardous Materials or Hazardous Materials Contamination, or the failure to discharge any such assessment could
reasonably be expected to have a Material Adverse Effect.

 

Section 4.11     Further
Assurances.

 

(a)            Each
Credit Party will, and will cause each Subsidiary to, at its own cost and expense, promptly and duly take, execute, acknowledge and deliver
all such further acts, documents and assurances as may from time to time be reasonably necessary or as Agent or the Required Lenders
may from time to time reasonably request in order to carry out the intent and purposes of the Financing Documents and the transactions
contemplated thereby, including all such actions to (i) establish, create, preserve, protect and perfect a first priority Lien (subject
only to Permitted Liens) in favor of Agent for itself and for the benefit of the Lenders on the Collateral (including Collateral acquired
after the date hereof), and (ii) unless Agent shall agree otherwise in writing, cause all Subsidiaries of Credit Parties (other
than a CFC) to be jointly and severally obligated with the other Credit Parties under all covenants and obligations under this Agreement,
including the obligation to repay the Obligations. Without limiting the generality of the foregoing, (x) Credit Parties shall, at
the time of the delivery of any Compliance Certificate disclosing the acquisition by an Credit Party of any registered Intellectual Property
or application for the registration of Intellectual Property, deliver to Agent a duly completed and executed supplement to the applicable
Credit Party’s Patent Security Agreement or Trademark Security Agreement in the form of the respective Exhibit thereto, and
(y) at the request of Agent, following the disclosure by Credit Parties on any Compliance Certificate of the acquisition by any
Credit Party of any rights under a license as a licensee with respect to any registered Intellectual Property or application for the
registration of any Intellectual Property owned by another Person, Credit Parties shall execute any documents requested by Agent to establish,
create, preserve, protect and perfect a first priority lien in favor of Agent, to the extent legally possible, in such Credit Party’s
rights under such license and shall use their commercially reasonable efforts to obtain the written consent of the licensor which such
license to the granting in favor of Agent of a Lien on such Credit Party’s rights as licensee under such license.

 

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(b)            Upon
receipt of an affidavit of an authorized representative of Agent or a Lender as to the loss, theft, destruction or mutilation of any
Note or any other Financing Document which is not of public record, and, in the case of any such mutilation, upon surrender and cancellation
of such Note or other applicable Financing Document, Credit Parties will issue, in lieu thereof, a replacement Note or other applicable
Financing Document, dated the date of such lost, stolen, destroyed or mutilated Note or other Financing Document in the same principal
amount thereof and otherwise of like tenor.

 

(c)            Each
Credit Party shall provide Agent with at least fifteen (15) days (or such shorter period as Agent may accept in its sole discretion)
prior written notice of its intention to create (or to the extent permitted under this Agreement, acquire) a new Subsidiary. Upon
the formation or, to the extent permitted under this Agreement, acquisition of a new Subsidiary, Credit Parties shall (within thirty
(30) days of such formation or acquisition): (i) pledge, have pledged or cause or have caused to be pledged to the Agent
pursuant to a pledge agreement in form and substance reasonably satisfactory to the Agent, all of the outstanding shares of equity
interests or other equity interests of such new Subsidiary owned directly or indirectly by any Credit Party, along with undated
stock or equivalent powers for such certificates, executed in blank, subject to the limitations set forth in clause (b) of the
definition of Excluded Collateral; (ii) unless Agent shall agree otherwise in writing, cause the new Subsidiary (other than a
CFC) to take such other actions (including entering into or joining any Security Documents) as are necessary or advisable in the
reasonable opinion of the Agent in order to grant the Agent, acting on behalf of the Lenders, a first priority Lien on all real and
personal property of such Subsidiary in existence as of such date and in all after acquired property, which first priority Liens are
required to be granted pursuant to the Security Documents; (iii) unless Agent shall agree otherwise in writing, cause such new
Subsidiary (other than a CFC) to either (at the election of Agent) become a Borrower hereunder with joint and several liability for
all obligations of Borrowers hereunder and under the other Financing Documents pursuant to a joinder agreement or other similar
agreement in form and substance satisfactory to Agent or to become a Guarantor of the obligations of Borrowers hereunder and under
the other Financing Documents pursuant to a guaranty and suretyship agreement in form and substance satisfactory to Agent; and
(iv) cause the new Subsidiary (other than a CFC) to deliver certified copies of such Subsidiary’s certificate or articles
of incorporation, together with good standing certificates, by-laws (or other operating agreement or governing documents),
resolutions of the Board of Directors or other governing body, approving and authorizing the execution and delivery of the Security
Documents, incumbency certificates and to execute and/or deliver such other documents and legal opinions or to take such other
actions as may be requested by the Agent, in each case, in form and substance reasonably satisfactory to the Agent.

 

(d)            Upon
the reasonable request of Agent, Credit Parties shall obtain a landlord’s agreement or mortgagee agreement, as applicable, from
the lessor of each leased property or mortgagee of owned property with respect to any business location where any portion of the Collateral
having a value in excess of the then-applicable Payment Condition Toggle Amount, or the records relating to such Collateral and/or software
and equipment relating to such records or Collateral, is stored or located, which agreement or letter shall be reasonably satisfactory
in form and substance to Agent. Credit Parties shall timely and fully pay and perform their obligations under all leases and other agreements
with respect to each leased location where any Collateral, or any records related thereto, is or may be located.

 

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Section 4.12     Reserved.

 

Section 4.13     Power
of Attorney. Each of the authorized representatives of Agent is hereby irrevocably made, constituted and appointed the true and lawful
attorney for the Credit Parties (without requiring any of them to act as such) with full power of substitution to do the following: (a) after
the occurrence and during the continuance of an Event of Default, endorse the name of Credit Parties upon any and all checks, drafts,
money orders, and other instruments for the payment of money that are payable to Credit Parties and constitute collections on Credit
Parties’ Accounts; (b) after the occurrence and during the continuance of an Event of Default, so long as Agent has provided
not less than three (3) Business Days’ prior written notice to Credit Party to perform the same and Credit Party has failed
to take such action, execute in the name of Credit Parties any schedules, assignments, instruments, documents, and statements that Credit
Parties are obligated to give Agent under this Agreement; (c) after the occurrence and during the continuance of an Event of Default,
take any action Credit Parties are required to take under this Agreement; (d) so long as Agent has provided not less than three
(3) Business Days’ prior written notice to any Credit Party to perform the same and Credit Party has failed to take such action,
do such other and further acts and deeds in the name of such Credit Party that Agent may deem necessary or desirable to enforce any Account
or other Collateral or perfect Agent’s security interest or Lien in any Collateral; and (e) after the occurrence and during
the continuance of an Event of Default, do such other and further acts and deeds in the name of the Credit Parties that Agent may deem
necessary or desirable to enforce its rights with regard to any Account or other Collateral. This power of attorney shall be irrevocable
and coupled with an interest.

 

Section 4.14     Borrowing
Base Collateral Administration.

 

(a)            All
data and other information relating to Accounts or other intangible Collateral shall at all times be kept by Borrowers, at their respective
principal offices (or in electronic form in the “cloud” where Agent has access) and shall not be moved from such locations
without (i) providing prior written notice to Agent, and (ii) obtaining the prior written consent of Agent, which consent shall
not be unreasonably withheld.

 

(b)            the
Credit Parties shall provide prompt written notice to each Person who either is currently an Account Debtor or becomes an Account Debtor
at any time following the date of this Agreement that directs each Account Debtor to make payments into the Lockbox, and hereby authorizes
Agent, upon Credit Parties’ failure to send such notices within ten (10) days after the date of this Agreement (or ten (10) days
after the Person becomes an Account Debtor), to send any and all similar notices to such Person. Agent reserves the right to notify Account
Debtors that Agent has been granted a Lien upon all Accounts.

 

Section 4.15     Maintenance
of Management. Credit Parties will notify Agent promptly in writing of any change in its board of directors or executive officers.

 

Section 4.16     Schedule
Updates. Borrower shall, in the event of any information in the Schedule 3.19, Schedule 5.14, Schedule 9.2(b) or Schedule 9.2(d) becoming
outdated, inaccurate, incomplete or misleading in any material respect, deliver to Agent, together with the next Compliance Certificate
required to be delivered under this Agreement after such event a proposed update to such Schedule correcting all outdated, inaccurate,
incomplete or misleading information.

 

Section 4.17     Broker/Carrier
Agreements. Credit Parties will use commercially reasonable efforts to ensure that each Broker/Carrier Agreement entered into after
the Closing Date is substantially identical to the form attached as Exhibit E hereto.

 

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ARTICLE 5 - - NEGATIVE COVENANTS

 

Each Credit Party agrees
that:

 

Section 5.1     Debt;
Contingent Obligations. No Credit Party will, or will permit any Subsidiary to, directly or indirectly, create, incur, assume, guarantee
or otherwise become or remain directly or indirectly liable with respect to, any Debt, except for Permitted Debt. No Credit Party will,
or will permit any Subsidiary to, directly or indirectly, create, assume, incur or suffer to exist any Contingent Obligations, except
for Permitted Contingent Obligations.

 

Section 5.2     Liens.
No Credit Party will, or will permit any Subsidiary to, directly or indirectly, create, assume or suffer to exist any Lien on any asset
now owned or hereafter acquired by it, except for Permitted Liens.

 

Section 5.3     Restricted
Distributions. No Credit Party will, or will permit any Subsidiary to, directly or indirectly, declare, order, pay, make or set apart
any sum for any Restricted Distribution, except for Permitted Distributions.

 

Section 5.4     Restrictive
Agreements. No Credit Party will, or will permit any Subsidiary to, directly or indirectly (a) enter into or assume any agreement
(other than the Financing Documents and any agreements for purchase money debt permitted under clause (c) of the definition
of Permitted Debt) prohibiting the creation or assumption of any Lien upon its properties or assets, whether now owned or hereafter acquired,
or (b) create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction of any kind (except
as provided by the Financing Documents) on the ability of any Subsidiary to: (i) pay or make Restricted Distributions to any Credit
Party or any Subsidiary; (ii) pay any Debt owed to any Credit Party or any Subsidiary; (iii) make loans or advances to any
Credit Party or any Subsidiary; or (iv) transfer any of its property or assets to any Credit Party or any Subsidiary. Notwithstanding
the foregoing, this Section 5.4 will not restrict or prohibit: (A) any agreements governing any purchase money Liens or capital
lease obligations otherwise permitted hereunder (in which case, any prohibition or limitation shall only be effective against the assets
financed thereby and proceeds thereof), (B) customary restrictions in leases, subleases, licenses or asset sale agreements otherwise
permitted hereby so long as such restrictions may relate to the assets subject thereto and proceeds thereof, (C) customary restrictions
contained in Debt and Contingent Obligations permitted pursuant to Section 5.1 (provided that such restrictions do not restrict
the Liens or guarantees securing or guaranteeing the Obligations), (D) restrictions arising in connection with cash or other deposits
permitted hereunder and limited to such cash or deposit, (E) customary provisions restricting assignment of any agreement entered
into in the Ordinary Course of Business, (F) restrictions arising by reason of applicable law, rule, regulation or order or the
terms of any license, authorization, concession or permit, and (G) restrictions on cash or other deposits or net worth imposed by
customers, suppliers or landlords or required by insurance, surety or bonding companies, in each case, under contracts entered into in
the Ordinary Course of Business.

 

Section 5.5     Payments
and Modifications of Subordinated Debt. No Credit Party will, or will permit any Subsidiary to, without the prior written consent
of Agent, directly or indirectly (a) declare, pay, make or set aside any amount for payment in respect of Subordinated Debt, except
for payments made in full compliance with and expressly permitted under the Subordination Agreement, (b) amend or otherwise modify
the terms of any Subordinated Debt, except for amendments or modifications made in full compliance with the Subordination Agreement,
(c) declare, pay, make or set aside any amount for payment in respect of any Debt hereinafter incurred that, by its terms, or by
separate agreement, is subordinated to the Obligations, except for payments made in full compliance with and expressly permitted under
the subordination provisions applicable thereto, or (d) amend or otherwise modify the terms of any Debt referred to in clauses (a) through
(c) above, if the effect of such amendment or modification is to (i) increase the cash pay interest rate or fees on, or change
the manner or timing of payment of, such Debt, (ii) accelerate or shorten the dates upon which payments of principal or interest
are due on, or the principal amount of, such Debt, (iii) change in a manner adverse to any Credit Party or Agent any event of default
or add or make more restrictive any covenant with respect to such Debt, (iv) change the prepayment provisions of such Debt or any
of the defined terms related thereto, in each case, in any adverse manner, (v) change the subordination provisions thereof (or the
subordination terms of any guaranty thereof), or (vi) change or amend any other term if such change or amendment would materially
increase the obligations of the obligor or confer additional material rights on the holder of such Debt in a manner adverse to Credit
Parties, any Subsidiaries, Agent or Lenders. Credit Parties shall, prior to entering into any such amendment or modification, deliver
to Agent reasonably in advance of the execution thereof, any final or execution form copy thereof.

 

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Section 5.6     Consolidations,
Mergers and Sales of Assets; Change in Control. No Credit Party will, or will permit any Subsidiary to, directly or indirectly (a) consolidate
or merge or amalgamate with or into any other Person other than (i) in order to consummate a Permitted Acquisition, so long as a
Credit Party is the surviving entity of any such merger to which it is a party, (ii) any merger between Credit Parties so long as
a Borrower is the surviving entity of any such merger to which it is a party, (iii) any merger between a Credit Party and a Subsidiary
of such Credit Party that is not a Credit Party so long as such Credit Party is the surviving entity of any such merger, (iv) any
merger between Subsidiaries of any Credit Party that are not Credit Parties, (v) any merger in connection with a Permitted SPAC
Transaction, or (vi) any other merger so long as the Obligations are paid in full and the Financing Documents are terminated concurrently
with the consummation of such merger or (b) consummate any Asset Dispositions other than Permitted Asset Dispositions.

 

Section 5.7     Purchase
of Assets, Investments. No Credit Party will, or will permit any Subsidiary to, directly or indirectly acquire, make or own
or enter into any agreement to acquire, make or own any Investment other than Permitted Investments. Without limiting the foregoing,
no Credit Party shall, nor will any Credit Party permit any Subsidiary to, purchase or carry Margin Stock.

 

Section 5.8     Transactions
with Affiliates. Except as otherwise disclosed on Schedule 5.8, and except for transactions that are disclosed to Agent in advance
of being entered into and which contain terms that are no less favorable to the applicable Credit Party or any Subsidiary, as the case
may be, than those which might be obtained from a non-Affiliate of any Credit Party, no Credit Party will, or will permit any Subsidiary
to, directly or indirectly, enter into or permit to exist any transaction (including the purchase, sale, lease or exchange of any property
or the rendering of any service) with any Affiliate of any Credit Party other than:

 

(a)            any
equity or convertible equity financings led by a non-Affiliate;

 

(b)            any
directors’ or officers’ liability insurance coverage provided in the Ordinary Course of Business or any indemnity provided
for the benefit of directors or officers (or comparable managers) of a Credit Party or one of its Subsidiaries so long as it has been
approved by such Credit Party’s or such Subsidiary’s board of directors (or comparable governing body) in accordance with
applicable law and subject to customary directors and officers insurance,

 

(c)            the
payment of compensation, severance, acceleration of vesting, employee benefit arrangements, issuances of securities or other payments,
awards, or grants in cash, securities, or otherwise, or the funding of employment agreements, any waiver of restrictions on transfers
of equity or any waivers or assignments of any rights of first refusal or similar rights that belongs to TFX (prior to the Permitted Reorganization)
or Holdings (on and after the Permitted Reorganization), stock options, restricted stock units and stock ownership to employees (in each
case, to the extent not otherwise prohibited hereunder), to officers, and directors of a Credit Party or one of its Subsidiaries in the
Ordinary Course of Business and consistent with industry practice and, in each case, so long as it has been approved by such Credit Party’s
or such Subsidiary’s board of directors (or comparable governing body) in accordance with applicable law,

 

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(d)            transactions
to the extent permitted by clause(m) of the definition of Permitted Debt,

 

(e)            Permitted
Distributions,

 

(f)            mergers
amongst Credit Parties and their Subsidiaries to the extent permitted by Section 5.6,

 

(g)            transactions
to the extent permitted by clause (g) of the definition of Permitted Asset Dispositions,

 

(h)            transactions
to the extent permitted by clauses (d), (h), (i)(1), or (n) of the definition of Permitted Investments,

 

(i)            the
consummation of the Permitted Reorganization, and

 

(j)            transactions
solely among Credit Parties.

 

Section 5.9     Modification
of Organizational Documents. No Credit Party will, or will permit any Subsidiary to, directly or indirectly, amend or otherwise modify
any Organizational Documents of such Person, except for Permitted Modifications.

 

Section 5.10     Modification
of Certain Agreements. No Credit Party will, or will permit any Subsidiary to, directly or indirectly, amend or otherwise modify
any Material Contract, which amendment or modification in any case: (a) is contrary to the terms of this Agreement or any other
Financing Document; or (b) will be adverse in any material respect to the rights, interests or privileges of Agent or the Lenders
or their ability to enforce the same.

 

Section 5.11     Conduct
of Business. No Credit Party will, or will permit any Subsidiary to, directly or indirectly, engage in any line of business other
than those businesses engaged in on the Closing Date and described on Schedule 5.11 and businesses reasonably related or
ancillary thereto or reasonable extensions thereof. No Credit Party will, or will permit any Subsidiary to, other than in the Ordinary
Course of Business, change its normal billing payment and reimbursement policies and procedures with respect to its Accounts (including,
without limitation, the amount and timing of finance charges, fees and write-offs).

 

Section 5.12     Lease
Payments. No Credit Party will, or will permit any Subsidiary to, directly or indirectly, incur or assume (whether pursuant to a
Guarantee or otherwise) any liability for rental payments except (a) in the Ordinary Course of Business or (b) to the extent
such liability is owed to a Credit Party.

 

Section 5.13     Limitation
on Sale and Leaseback Transactions. No Credit Party will, or will permit any Subsidiary to, directly or indirectly, enter into any
arrangement with any Person whereby, in a substantially contemporaneous transaction, any Credit Party or any Subsidiaries sells or transfers
all or substantially all of its right, title and interest in an asset and, in connection therewith, acquires or leases back the right
to use such asset other than any such arrangement solely between Credit Parties.

 

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Section 5.14     Deposit
Accounts and Securities Accounts; Payroll and Benefits Accounts.

 

(a)            No
Credit Party will, or will permit any Subsidiary to, directly or indirectly, establish any new Deposit Account or Securities Account
(other than an Excluded Account) without prior written notice to Agent, and unless Agent, such Credit Party or such Subsidiary and the
bank, financial institution or securities intermediary at which the account is to be opened enter into a Deposit Account Control Agreement
or Securities Account Control Agreement prior to or concurrently with the establishment of such Deposit Account or Securities Account
(or such later date agreed by Agent in its sole discretion).

 

(b)            Credit
Parties represent and warrant that Schedule 5.14 lists all of the Deposit Accounts and Securities Accounts of each Credit Party
as of the Closing Date and as of the date on which each Compliance Certificate is delivered. The provisions of this Section requiring
Deposit Account Control Agreements shall not apply to Deposit Accounts (x) exclusively used for payroll, payroll taxes and other
employee wage and benefit payments to or for the benefit of Credit Parties’ employees, (y) with an amount on deposit at any
time not to exceed $250,000 in the aggregate, in each case, to the extent identified to Agent by Credit Parties as such, and (z) exclusively
used for deposit of cash collateral constituting Permitted Liens pursuant to clauses (a), (b) and (k) thereof (such accounts,
 “Excluded Accounts”).

 

(c)            At
all times that any Obligations remain outstanding, Credit Party shall maintain one or more separate Deposit Accounts to hold any and
all amounts to be used for payroll, payroll taxes and other employee wage and benefit payments, and shall not commingle any monies allocated
for such purposes with funds in any other Deposit Account.

 

Section 5.15     Compliance
with Anti-Terrorism Laws. Agent hereby notifies Credit Parties that pursuant to the requirements of Anti-Terrorism Laws, and Agent’s
policies and practices, Agent is required to obtain, verify and record certain information and documentation that identifies Credit Parties
and their principals, which information includes the name and address of each Credit Party and its principals and such other information
that will allow Agent to identify such party in accordance with Anti-Terrorism Laws. No Credit Party will, or will permit any Subsidiary
to, directly or indirectly, knowingly enter into any Material Contracts with any Blocked Person or any Person listed on the OFAC Lists.
Each Credit Party shall immediately notify Agent if such Credit Party has knowledge that any Borrower, any additional Credit Party or
any of their respective Affiliates or agents acting or benefiting in any capacity in connection with the transactions contemplated by
this Agreement is or becomes a Blocked Person or (a) is convicted on, (b) pleads nolo contendere to, (c) is indicted on,
or (d) is arraigned and held over on charges involving money laundering or predicate crimes to money laundering. No Credit Party
will, or will permit any Subsidiary to, directly or indirectly, (i) conduct any business or engage in any transaction or dealing
with any Blocked Person, including, without limitation, the making or receiving of any contribution of funds, goods or services to or
for the benefit of any Blocked Person, (ii) deal in, or otherwise engage in any transaction relating to, any property or interests
in property blocked pursuant to Executive Order No. 13224, any similar executive order or other Anti-Terrorism Law, or (iii) engage
in or conspire to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate,
any of the prohibitions set forth in Executive Order No. 13224 or other Anti-Terrorism Law.

 

Section 5.16     Change
in Accounting; Fiscal Year. No Credit Party shall, and no Credit Party shall suffer or permit any of its Subsidiaries to, (i) make
any significant change in accounting treatment or reporting practices, except as required by GAAP or (ii) change the fiscal year
or method for determining fiscal quarters of any Credit Party or of any consolidated Subsidiary of any Credit Party, except in each case,
in connection with the Permitted Reorganization.

 

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Section 5.17     Agreements
Regarding Receivables. No Credit Party may backdate, postdate or redate any of its invoices. No Credit Party may make any sales
on extended dating or credit terms beyond that customary in such Credit Party’s industry. In addition to the Borrowing Base
Certificate to be delivered in accordance with this Agreement, Borrower Representative shall notify Agent promptly upon any Credit
Party’s learning thereof, in the event any Eligible Account, Eligible Pre Audit Account or Eligible Unbilled Account becomes
ineligible for any reason, other than the aging of such Account, and of the reasons for such ineligibility. Borrower Representative
shall also notify Agent promptly of all material disputes and claims with respect to the Accounts of any Credit Party, and such
Credit Party will settle or adjust such material disputes and claims at no expense to Agent; provided, however, no Credit
Party may, without Agent’s consent, grant (a) any discount, credit or allowance in respect of its Accounts (i) which
is outside the Ordinary Course of Business or (ii) which discount, credit or allowance, with respect to any individual Account,
exceeds an amount equal to $250,000 in any year and $1,000,000 over the term of this Agreement or (b) any materially adverse
extension, compromise or settlement to any customer or account debtor with respect to any then Eligible Account, Eligible Pre-Audit
Account or Eligible Unbilled Account. Nothing permitted by this Section 5.17, however, may be construed to alter in any the
criteria for Eligible Accounts, Eligible Pre-Audit Accounts or Eligible Unbilled Accounts provided in Section 1.1.

 

Section 5.18     Holdco
Covenant. Holdings shall not engage in any material business activity other than (i) its ownership of the equity interests of
its Subsidiaries and activities incidental thereto, (ii) maintaining its corporate existence, including general and corporate overhead,
(iii) incurring guarantees of (A) Debt permitted to be incurred by any other Credit Party hereunder, provided such guarantee
shall be subordinated to the Obligations to the same extent as such other Debt, and (B) of obligations that do not constitute Debt
so long as the primary obligation is permitted hereunder, (iv) the entry into, and the performance of its obligations with respect
to, the Financing Documents or documentation relating to other Debt permitted to be incurred hereunder and other agreements contemplated
hereby and thereby (except that Holdings shall not be a primary obligor (as distinguished from a guarantor) of indebtedness for borrowed
money), (v) the payment of Permitted Distributions, the issuance of its own equity interests, the making of contributions to the
capital of its Subsidiaries, the incurrence of the Obligations, (vi) to the extent not otherwise covered by the other clauses of
this Section 5.18, any of the activities of Holdings referred to in the definition of Permitted Distributions, (vii) maintaining
deposit accounts in connection with the conduct of its business, and paying Taxes and other customary obligations in the Ordinary Course
of Business, (viii) consummating the Permitted SPAC Transaction, Permitted Reorganization, any equity or convertible equity financing
or a Qualified IPO, and (ix) complying with applicable Law and activities incidental to the foregoing.

 

Section 5.19     Broker/Carrier
Agreements. No Credit Party will, or will permit any Subsidiary to enter into any Broker/Carrier Agreement or similar document or
agreement (or amend an existing Broker/Carrier Agreement or similar document) (i) that includes or could reasonably be expected
or interpreted to create an “interline arrangement”, (ii) requires any Credit Party segregate, reserve or otherwise
set aside or agree to segregate, reserve or otherwise set aside proceeds of customer payments or other funds to be paid onwards to carriers,
or (iii) provides that a Person other than the relevant Credit Parties is responsible for payment of fees and charges or other obligations
thereunder, (iv) that provides the carrier recourse to the shipper for non-payment by the relevant Credit Party or that conditions
payment to the carrier on the Credit Party’s receipt of payment by the shipper.

 

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ARTICLE 6 - - [RESERVED]

 

ARTICLE 7 - - CONDITIONS

 

Section 7.1     Conditions
to Closing. The obligation of each Lender to make the initial Loans, of Agent to issue any Support Agreements on the Closing Date
and of any LC Issuer to issue any Lender Letter of Credit, in each case, on the Closing Date shall be subject to the receipt by Agent
of each agreement, document and instrument set forth on the closing checklist prepared by Agent or its counsel, each in form and substance
reasonably satisfactory to Agent, and such other closing deliverables reasonably requested by Agent and Lenders, and to the satisfaction
of the following conditions precedent, each to the satisfaction of Agent and Lenders in their reasonable discretion:

 

(a)            evidence
of the consummation of the transactions (other than the funding of the Loan and the closing of any acquisition for which the proceeds
of the Loan are purchase money) contemplated by the Operative Documents including, without limitation, the funding of any and all investments
contemplated by the Operative Documents;

 

(b)            the
receipt by Agent of executed counterparts of this Agreement and the other Financing Documents;

 

(c)            the
payment of all fees, expenses and other amounts due and payable under each Financing Document;

 

(d)            since
January 31, 2021, nothing has occurred that has had, or would have, a Material Adverse Effect; and

 

(e)            the
receipt of the initial Borrowing Base Certificate, prepared as of the Closing Date.

 

Each Lender, by delivering
its signature page to this Agreement, shall be deemed to have acknowledged receipt of, and consented to and approved, each Financing
Document, each additional Operative Document and each other document, agreement and/or instrument required to be approved by Agent, Required
Lenders or Lenders, as applicable, on the Closing Date.

 

Section 7.2     Conditions
to Each Loan, Support Agreement and Lender Letter of Credit. The obligation of the Lenders to make a Loan (other than Revolving Loans
made pursuant to Section 2.5(c)) or an advance in respect of any Loan, of Agent to issue any Support Agreement or of any LC Issuer
to issue any Lender Letter of Credit (including on the Closing Date) is subject to the satisfaction of the following additional conditions:

 

(a)            (i) in
the case of the initial borrowing of Revolving Loans, receipt by Agent of a Notice of Borrowing (or telephonic notice if permitted by
this Agreement) and the initial Borrowing Base Certificate, in the case of any Support Agreement or Lender Letter of Credit, receipt
by Agent of a Notice of LC Credit Event in accordance with Section 2.5(a), and (ii) in the case of any subsequent borrowing
of Revolving Loans, receipt by Agent of a Notice of Borrowing (or telephonic notice if permitted by this Agreement) and updated Borrowing
Base Certificate;

 

(b)            the
fact that, immediately after such borrowing and after application of the proceeds thereof or after such issuance, the Revolving Loan
Outstandings will not exceed the Revolving Loan Limit;

 

(c)            the
fact that, immediately before and after such advance or issuance, no Default or Event of Default shall have occurred and be continuing;

 

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(d)            for
Loans made on the Closing Date, the fact that the representations and warranties of each Credit Party contained in the Financing Documents
shall be true, correct and complete on and as of the Closing Date, except to the extent that any such representation or warranty relates
to a specific date in which case such representation or warranty shall be true and correct as of such earlier date;

 

(e)            the
fact that, immediately before and after giving effect to such advance or issuance, Liquidity is not less than the Trigger Amount;

 

(f)            for
Loans made after the Closing Date, the fact that the representations and warranties of each Credit Party contained in the Financing Documents
shall be true, correct and complete in all material respects on and as of the date of such borrowing or issuance, except to the extent
that any such representation or warranty relates to an earlier date, in which case such representation or warranty shall be true and
correct in all material respects as of such earlier date; provided, however, in each case, such materiality qualifier shall not
be applicable to any representations and warranties that are already qualified or modified by materiality in the text thereof; and

 

(g)            the
fact that no Material Adverse Effect shall have occurred and be continuing with respect to Borrowers or any Credit Party since the date
of this Agreement.

 

Each giving of a Notice of
LC Credit Event hereunder, each giving of a Notice of Borrowing hereunder and each acceptance by any Borrower of the proceeds of any
Loan made hereunder shall be deemed to be (y) a representation and warranty by each Borrower on the date of such notice or
acceptance as to the facts specified in this Section, and (z) a restatement by each Borrower that each and every one of the
representations made by it in any of the Financing Documents is true and correct in all material respects (and in all respects, if
any such representation or warranty is already qualified by materiality) as of such date (except to the extent that such
representations and warranties expressly relate solely to an earlier date).

 

Section 7.3     Searches.
Before the Closing Date, and thereafter (as and when determined by Agent in its discretion), Agent shall have the right to perform, all
at the Credit Parties’ expense, the searches described in clauses (a), (b), and (c) below against Borrowers and any other
Credit Party, the results of which are to be consistent in all material respects with Credit Parties’ representations and warranties
under this Agreement and the satisfactory results of which shall be a condition precedent to all advances of Loan proceeds, all issuances
of Lender Letters of Credit and all undertakings in respect of Support Agreements: (a) UCC searches with the Secretary of State
of the jurisdiction in which the applicable Person is organized; (b) judgment, pending litigation, federal tax lien, personal property
tax lien, and corporate and partnership tax lien searches, in each jurisdiction searched under clause (a) above; and (c) searches
of applicable corporate, limited liability company, partnership and related records to confirm the continued existence, organization
and good standing of the applicable Person and the exact legal name under which such Person is organized; provided, that unless
an Event of Default has occurred and is continuing, such lien searches at the expense of Borrowers shall not occur more than two (2) times
during any twelve-month period.

 

Section 7.4     Post-Closing
Requirements. Credit Parties shall complete each of the post-closing obligations and/or provide to Agent each of the documents, instruments,
agreements and information listed on Schedule 7.4 attached hereto on or before the date set forth for each such item thereon, each
of which shall be completed or provided in form and substance satisfactory to Agent.

 

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ARTICLE 8 - - [RESERVED]

 

ARTICLE 9 - - SECURITY AGREEMENT

 

Section 9.1          Generally.
As security for the payment and performance of the Obligations and without limiting any other grant of a Lien and security interest in
any Security Document, each Credit Party hereby assigns, pledges and grants to Agent, for the benefit of itself and Lenders, a continuing
first priority Lien on and security interest in, upon, and to the property set forth on Schedule 9.1 attached hereto and made a part
hereof.

 

Section 9.2            Representations
and Warranties and Covenants Relating to Collateral.

 

(a)            The
security interest granted pursuant to this Agreement constitutes a valid and, to the extent such security interest is required to be perfected
by this Agreement and any other Financing Document, continuing perfected security interest in favor of Agent in all Collateral subject,
for the following Collateral, to the occurrence of the following: (i) in the case of all Collateral in which a security interest
may be perfected by filing a financing statement under the UCC, the completion of the filings and other actions specified on Schedule
9.2(a) (which, in the case of all filings and other documents referred to on such schedule, have been delivered to Agent in completed
and duly authorized form), (ii) with respect to any Deposit Account, the execution of Deposit Account Control Agreements, (iii) in
the case of letter-of-credit rights that are not supporting obligations of Collateral, the execution of a contractual obligation granting
control to Agent over such letter-of-credit rights, (iv) in the case of electronic chattel paper, the completion of all steps necessary
to grant control to Agent over such electronic chattel paper, (v) in the case of all certificated stock, debt instruments and investment
property, the delivery thereof to Agent of such certificated stock, debt instruments and investment property consisting of instruments
and certificates, in each case properly endorsed for transfer to Agent or in blank, (vi) in the case of all investment property not
in certificated form, the execution of control agreements with respect to such investment property, (vii) in the case of all other
instruments and tangible chattel paper that are not certificated stock, debt instructions or investment property, the delivery thereof
to Agent of such instruments and tangible chattel paper, and (viii) in the case of registered copyrights, the filing of a copyright
security agreement with the United States Copyright Office. Such security interest shall be prior to all other Liens on the Collateral
except for Permitted Liens. Except to the extent not required pursuant to the terms of this Agreement, all actions by each Credit Party
necessary or desirable to protect and perfect the Lien granted hereunder on the Collateral have been duly taken.

 

(b)            Schedule 9.2(b) sets
forth (i) each chief executive office and principal place of business of each Credit Party and each of their respective Subsidiaries,
and (ii) except for locations that, in each case, contain less than the then-applicable Payment Condition Toggle Amount in assets
or property of the Credit Parties, and as to all such locations with assets or property, do not exceed the then-applicable Payment Condition
Toggle Amount in the aggregate, all of the addresses (including all warehouses) at which any of the Collateral is located (other
than temporary locations for repair, maintenance or transit) and/or books and records of Credit Parties regarding any Collateral or any
of such Credit Party’s assets, liabilities, business operations or financial condition are kept, which such Schedule 9.2(b) indicates
in each case which Credit Party(ies) have Collateral and/or books and records located at such address, and, in the case of any such address
not owned by one or more of the Credit Party(ies), indicates the nature of such location (e.g., leased business location operated by Credit
Party(ies), third party warehouse, consignment location, processor location, etc.) and the name and address of the third party owning
and/or operating such location.

 

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(c)            Without
limiting the generality of Section 3.2, except as indicated on Schedule 3.19 with respect to any rights of any Credit
Party as a licensee under any license of Intellectual Property owned by another Person, and except for the filing of financing statements
under the UCC and consents, approvals, authorizations, or other orders or actions that have already been obtained or given (as applicable)
and that are still in force, no authorization, approval or other action by, and no notice to or filing with, any Governmental Authority
or consent of any other Person is required for (i) the grant by each Credit Party to Agent of the security interests and Liens in
the Collateral provided for under this Agreement and the other Security Documents (if any), or (ii) the exercise by Agent of its
rights and remedies with respect to the Collateral provided for under this Agreement and the other Security Documents or under any applicable
Law, including the UCC and neither any such grant of Liens in favor of Agent or exercise of rights by Agent shall violate or cause a default
under any agreement between any Credit Party and any other Person relating to any such collateral, including any license to which a Credit
Party is a party, whether as licensor or licensee, with respect to any Intellectual Property, whether owned by such Credit Party or any
other Person.

 

(d)            As
of the Closing Date, except as set forth on Schedule 9.2(d), no Credit Party has any ownership interest in any Chattel Paper (as defined
in Article 9 of the UCC), letter of credit rights, commercial tort claims, Instruments, documents or investment property (other
than equity interests in any Subsidiaries of such Credit Party disclosed on Schedule 3.4) and Credit Parties shall give notice
to Agent promptly (but in any event not later than the delivery by Credit Parties of the next Compliance Certificate required pursuant
to Section 4.1 above) upon the acquisition by any Credit Party of any such Chattel Paper, letter of credit rights, commercial tort
claims, Instruments, or investment property, in each case, in excess of the then-applicable Payment Condition Toggle Amount. No Person
other than Agent or (if applicable) any Lender has “control” (as defined in Article 9 of the UCC) over any Deposit Account,
investment property (including Securities Accounts and commodities account), letter of credit rights or electronic chattel paper in which
any Credit Party has any interest (except for such control arising by operation of law in favor of any bank or securities intermediary
or commodities intermediary with whom any Deposit Account, Securities Account or commodities account of Credit Parties is maintained).

 

(e)            Except
in connection with the Permitted Reorganization, Credit Parties shall not, and shall not permit any Credit Party to, take any of the following
actions or make any of the following changes unless Credit Parties have given at least ten (10) Business Days prior written notice
to Agent of Credit Parties’ intention to take any such action (which such written notice shall include an updated version of any
Schedule impacted by such change) and have executed any and all documents, instruments and agreements and taken any other actions
which Agent may request after receiving such written notice in order to protect and preserve the Liens, rights and remedies of Agent with
respect to the Collateral: (i) change the legal name or organizational identification number of any Credit Party as it appears in
official filings in the jurisdiction of its organization, (ii) change the jurisdiction of incorporation or formation, or the foreign
equivalent thereof, of any Credit Party or allow any Credit Party to designate any jurisdiction as an additional jurisdiction of incorporation
for such Credit Party, or change the type of entity that it is, or (iii) change its chief executive office, principal place of business,
or the location of its books and records concerning the Collateral or move any Collateral to or place any Collateral on any location that
is not then listed on the Schedules and/or establish any business location at any location that is not then listed on the Schedules.

 

(f)            Except
as permitted under Section 5.18, Credit Parties shall not adjust, settle or compromise the amount or payment of any Account, or
release wholly or partly any Account Debtor, or allow any credit or discount thereon (other than adjustments, settlements, compromises,
credits and discounts in the Ordinary Course of Business, made while no Default exists and in amounts which are not material with respect
to the Account and which, after giving effect thereto, do not cause the Borrowing Base to be less than the Revolving Loan Outstandings)
without the prior written consent of Agent. Without limiting the generality of this Agreement or any other provisions of any of the Financing
Documents relating to the rights of Agent after the occurrence and during the continuance of an Event of Default, Agent shall have the
right at any time after the occurrence and during the continuance of an Event of Default to: (i) exercise the rights of Credit Parties
with respect to the obligation of any Account Debtor to make payment or otherwise render performance to Credit Parties and with respect
to any property that secures the obligations of any Account Debtor or any other Person obligated on the Collateral, and (ii) adjust,
settle or compromise the amount or payment of such Accounts.

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(g)          Without
limiting the generality of Sections 9.2(c) and 9.2(e):

 

(i)            Credit
Parties shall deliver to Agent all tangible Chattel Paper and all Instruments and documents with an aggregate value in excess of the then-applicable
Payment Condition Toggle Amount owned by any Credit Party and constituting part of the Collateral duly endorsed and accompanied by duly
executed instruments of transfer or assignment, all in form and substance reasonably satisfactory to Agent. Credit Parties shall provide
Agent with “control” (as defined in Article 9 of the UCC) of all electronic Chattel Paper owned by any Credit Party and
constituting part of the Collateral by having Agent identified as the assignee on the records pertaining to the single authoritative copy
thereof and otherwise complying with the applicable elements of control set forth in the UCC. Credit Parties also shall deliver to Agent
all security agreements securing any such Chattel Paper and securing any such Instruments. Credit Parties will mark conspicuously all
such Chattel Paper and all such Instruments and documents with a legend, in form and substance reasonably satisfactory to Agent, indicating
that such Chattel Paper and such instruments and documents are subject to the security interests and Liens in favor of Agent created pursuant
to this Agreement and the Security Documents. Credit Parties shall comply with all the provisions of Section 5.14 with respect to
the Deposit Accounts and Securities Accounts of Credit Parties.

 

(ii)            Credit
Parties shall deliver to Agent all letters of credit with an aggregate value in excess of the then-applicable Payment Condition
Toggle Amount on which any Credit Party is the beneficiary and which give rise to letter of credit rights owned by such Credit Party which
constitute part of the Collateral in each case duly endorsed and accompanied by duly executed instruments of transfer or assignment, all
in form and substance satisfactory to Agent. Credit Parties shall take any and all actions as may be necessary or desirable, or that Agent
may request, from time to time, to cause Agent to obtain exclusive “control” (as defined in Article 9 of the UCC) of
any such letter of credit rights in a manner acceptable to Agent.

 

(iii)            Credit
Parties shall promptly advise Agent upon any Credit Party becoming aware that it has any interests in any commercial tort claim with an
aggregate value in excess of the then-applicable Payment Condition Toggle Amount that constitutes part of the Collateral, which
such notice shall include descriptions of the events and circumstances giving rise to such commercial tort claim and the dates such events
and circumstances occurred, the potential defendants with respect such commercial tort claim and any court proceedings that have been
instituted with respect to such commercial tort claims, and Credit Parties shall, with respect to any such commercial tort claim, execute
and deliver to Agent such documents as Agent shall request to perfect, preserve or protect the Liens, rights and remedies of Agent with
respect to any such commercial tort claim.

 

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(iv)            Without
limiting Section 4.11(d), except for locations that, in each case, contain less than $500,000 (or, upon satisfaction of
the Post Toggle Payment Conditions, $1,000,000) in assets or property of the Credit Parties, and as to all such locations with
assets or property, do not exceed the then-applicable Payment Condition Toggle Amount in the aggregate (other than temporary
locations for repair, maintenance or transit), no Collateral and no books and records and/or software and equipment of the Credit
Parties regarding any of the Collateral or any of the Credit Parties’ assets, liabilities, business operations or financial
condition shall at any time be located at any leased location or in the possession or control of any warehouse, consignee, bailee or
any of Credit Parties agents or processors without prior written notice to Agent and if Agent has so requested, use commercially
reasonable efforts to obtain warehouse receipts, consignment agreements, landlord waivers, or bailee waivers (as applicable)
satisfactory to Agent prior to the commencement of such lease or of such possession or control (as applicable). Credit Parties have
notified Agent that Collateral and books and records are currently located at the locations set forth on
Schedule 9.2(b) (as updated from time to time pursuant to Section 4.16). Except for locations that, in each case,
contain less than $500,000 (or, upon satisfaction of the Post Toggle Payment Conditions, $1,000,000) in assets or property of the
Credit Parties, and as to all such locations with assets or property, do not exceed the then-applicable Payment Condition Toggle
Amount in the aggregate (other than temporary locations for repair, maintenance or transit), Credit Parties shall, upon the request
of Agent, notify any such landlord, warehouse, consignee, bailee, agent or processor of the security interests and Liens in favor of
Agent created pursuant to this Agreement and the Security Documents, instruct such Person to hold all such Collateral for
Agent’s account subject to Agent’s instructions and shall use commercially reasonable efforts to obtain an
acknowledgement from such Person that such Person holds the Collateral for Agent’s benefit.

 

(v)            Credit
Parties shall cause all equipment and other tangible personal property other than Inventory to be maintained and preserved in the same
condition, repair and in working order as when new, ordinary wear and tear and Permitted Asset Dispositions excepted, and shall promptly
make or cause to be made all repairs, replacements and other improvements in connection therewith that are necessary or desirable to such
end. Upon written request of Agent, Credit Parties shall promptly deliver to Agent any and all certificates of title, applications for
title or similar evidence of ownership of all such tangible personal property with an aggregate value in excess of the then-applicable
Payment Condition Toggle Amount and shall cause Agent to be named as lienholder on any such certificate of title or other evidence of
ownership. Credit Parties shall not permit any such tangible personal property to become fixtures to real estate unless such real estate
is subject to a Lien in favor of Agent.

 

(vi)            Each
Credit Party hereby authorizes Agent to file without the signature of such Credit Party one or more UCC financing statements relating
to liens on personal property relating to all or any part of the Collateral, which financing statements may list Agent as the “secured
party” and such Credit Party as the “debtor” and which describe and indicate the collateral covered thereby as all or
any part of the Collateral under the Financing Documents (including an indication of the collateral covered by any such financing
statement as “all assets” of such Credit Party now owned or hereafter acquired), in such jurisdictions as Agent from time
to time determines are appropriate, and to file without the signature of such Credit Party any continuations of or corrective amendments
to any such financing statements, in any such case in order for Agent to perfect, preserve or protect the Liens, rights and remedies of
Agent with respect to the Collateral. Each Credit Party also ratifies its authorization for Agent to have filed in any jurisdiction any
initial financing statements or amendments thereto if filed prior to the date hereof. Agent shall endeavor to promptly provide copies
of any filed financing statements to the applicable Borrower and its counsel.

 

(vii)            As
of the Closing Date, no Credit Party holds, and, after the Closing Date, Credit Parties shall promptly notify Agent in writing upon creation
or acquisition by any Credit Party of, any Collateral which constitutes a claim against any Governmental Authority, including, without
limitation, the federal government of the United States or any instrumentality or agency thereof, the assignment of which claim is restricted
by any applicable Law, including, without limitation, the federal Assignment of Claims Act and any other comparable Law. Upon the request
of Agent, Credit Parties shall take such steps as may be necessary or desirable, or that Agent may request, to comply with any such applicable
Law.

 

(viii)            Credit
Parties shall furnish to Agent from time to time any statements and schedules further identifying or describing the Collateral and any
other information, reports or evidence concerning the Collateral as Agent may reasonably request from time to time.

 

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ARTICLE 10 - EVENTS OF DEFAULT

 

Section 10.1          Events
of Default. For purposes of the Financing Documents, the occurrence of any of the following conditions and/or events, whether voluntary
or involuntary, by operation of law or otherwise, shall constitute an “Event of Default”:

 

(a)            (i) any
Credit Party shall fail to pay when due any principal, interest, premium or fee under any Financing Document or any other amount payable
under any Financing Document, (ii) there shall occur any default in the performance of or compliance with any of the following sections of
this Agreement: Section 2.11, Section 4.2(b), Section 4.4(c), Section 4.6, Section 4.9, Section 4.11(c),
Article 5, or Section 7.4, or (iii) there shall occur any default in the performance of or compliance with Section 4.1
of this Agreement and Borrower Representative has received written notice from Agent or Required Lenders of such default or Borrower Representative
has delivered to Agent a Compliance Certificate evidencing such default;

 

(b)            any
Credit Party defaults in the performance of or compliance with any material term contained in this Agreement or in any other Financing
Document (other than occurrences described in other provisions of this Section 10.1 for which a different grace or cure period is
specified or for which no grace or cure period is specified and thereby constitute immediate Events of Default) and such default is not
remedied by the Credit Party or waived by Agent within twenty (20) days after the earlier of (i) receipt by Borrower Representative
of notice from Agent or Required Lenders of such default, or (ii) knowledge of any Credit Party of such default;

 

(c)            any
representation, warranty, certificate made by any Credit Party or any other Person in any Financing Document is incorrect in any respect
(or in any material respect if such representation, warranty, or certification is not by its terms already qualified as to materiality)
when made (or deemed made);

 

(d)            (i) failure
of any Credit Party to pay when due or within any applicable grace period any principal, interest or other amount on Debt (other than
the Loans), or the occurrence of any breach, default, condition or event with respect to any Debt (other than the Loans), if the effect
of such failure or occurrence is to cause or to permit the holder or holders of any such Debt, to cause, Debt or other liabilities having
an individual principal amount in excess of the Payment Condition Toggle Amount to become or be declared due prior to its stated maturity,
or (ii) the occurrence of any breach or default under any terms or provisions of any Subordinated Debt Document or under any agreement
subordinating the Subordinated Debt to all or any portion of the Obligations or the occurrence of any event requiring the prepayment of
any Subordinated Debt;

 

(e)            any
Credit Party or any Subsidiary of a Credit Party shall commence a voluntary case or other proceeding seeking liquidation, reorganization
or other relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or
seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of it or any substantial part of its property,
or shall consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other
proceeding commenced against it, or shall make a general assignment for the benefit of creditors, or shall fail generally to pay its debts
as they become due, or shall take any corporate action to authorize any of the foregoing;

 

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(f)            an
involuntary case or other proceeding shall be commenced against any Credit Party or any Subsidiary of a Credit Party seeking liquidation,
reorganization or other relief with respect to it or its debts under any bankruptcy, insolvency or other similar law now or hereafter
in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of it or any substantial
part of its property, and such involuntary case or other proceeding shall remain undismissed and unstayed for a period of sixty (60) days;
or an order for relief shall be entered against any Credit Party or any Subsidiary of a Credit Party under applicable federal bankruptcy,
insolvency or other similar law in respect of (i) bankruptcy, liquidation, winding-up, dissolution or suspension of general operations,
(ii) composition, rescheduling, reorganization, arrangement or readjustment of, or other relief from, or stay of proceedings to enforce,
some or all of the debts or obligations, or (iii) possession, foreclosure, seizure or retention, sale or other disposition of, or
other proceedings to enforce security over, all or any substantial part of the assets of such Credit Party or Subsidiary;

 

(g)            (i) the
provision by the administrator of any Pension Plan pursuant to Section 4041(a)(2) of ERISA of a notice of intent to terminate
such plan in a distress termination described in Section 4041(c) of ERISA or the institution of any steps by any Person to terminate
a Pension Plan if as a result of such termination any Credit Party or any member of the Controlled Group would be required to make a contribution
to such Pension Plan, or would incur a liability or obligation to such Pension Plan, in excess of $1,000,000, (ii) a contribution
failure by a Credit Party occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k) of
ERISA or Section 430(k) of the Code or an event occurs with respect to any Pension Plan that could reasonably be expected to
give rise to a Lien under Section 4068, or (iii) there shall occur any withdrawal or partial withdrawal from a Multiemployer
Plan and the withdrawal liability (without unaccrued interest) of a Credit Party to the Multiemployer Plans as a result of such withdrawal
(including any outstanding withdrawal liability that any Credit Party or any member of the Controlled Group have incurred on the date
of such withdrawal) exceeds $1,000,000;

 

(h)            one
or more judgments or orders for the payment of money (not paid or fully covered by insurance maintained in accordance with the requirements
of this Agreement and as to which the relevant insurance company has acknowledged coverage) aggregating in excess of Payment Condition
Toggle Amount shall be rendered against any or all Credit Parties and either (i) enforcement proceedings shall have been commenced
by any creditor upon any such judgments or orders, or (ii) there shall be any period of twenty (20) consecutive days during which
a stay of enforcement of any such judgments or orders, by reason of a pending appeal, bond or otherwise, shall not be in effect;

 

(i)            (i) any
Lien created by any of the Security Documents shall at any time fail to constitute a valid and perfected Lien on all of the Collateral
purported to be encumbered thereby, subject to no prior or equal Lien except Permitted Liens, or any Credit Party shall so assert or (ii) any
of the Financing Documents shall for any reason fail to constitute the valid and binding agreement of any party thereto, or any Credit
Party shall so assert, in each case, unless such Financing Document terminates pursuant to the terms and conditions thereof without any
breach or default thereunder by any Credit Party thereto;

 

(j)            the
institution by any Governmental Authority of criminal proceedings against any Credit Party;

 

(k)            without
limiting Section 10.1(b), a default or event of default occurs under any Guarantee of any portion of the Obligations by any Credit
Party;

 

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(l)            if
any Credit Party is or becomes an entity whose equity is registered with the SEC, and/or is publicly traded on and/or registered with
a public securities exchange, such Credit Party’s equity fails to remain registered with the SEC in good standing, and/or such equity
fails to remain publicly traded on and registered with a public securities exchange; or

 

(m)            the
occurrence of any event that has had a Material Adverse Effect; or

 

(n)            a
Change in Control shall occur unless the Obligations are paid in full concurrently with the consummation thereof.

 

All cure periods provided
for in this Section 10.1 shall run concurrently with any cure period provided for in any applicable Financing Documents under which
the default occurred.

 

Section 10.2          Acceleration
and Suspension or Termination of Revolving Loan Commitment. Upon the occurrence and during the continuance of an Event of
Default, Agent may, and shall if requested by Required Lenders, (a) by written notice to Borrower Representative suspend or
terminate the Revolving Loan Commitment and the obligations of Agent and the Lenders with respect thereto, in whole or in part (and,
if in part, each Lender’s Revolving Loan Commitment shall be reduced in accordance with its Pro Rata Share), and/or
(b) by notice to Borrower Representative declare all or any portion of the Obligations to be, and the Obligations shall
thereupon become, immediately due and payable, with accrued interest thereon, without presentment, demand, protest or other notice
of any kind, all of which are hereby waived by each Credit Party and Credit Parties will pay the same; provided, however,
that in the case of any of the Events of Default specified in Section 10.1(e) or 10.1(f) above, without any notice to
any Credit Party or any other act by Agent or the Lenders, the Revolving Loan Commitment and the obligations of Agent and the
Lenders with respect thereto shall thereupon immediately and automatically terminate and all of the Obligations shall become
immediately and automatically due and payable without presentment, demand, protest or other notice of any kind, all of which are
hereby waived by each Credit Party and Credit Parties will pay the same.

 

Section 10.3         UCC
Remedies.

 

(a)            Upon
the occurrence of and during the continuance of an Event of Default under this Agreement or the other Financing Documents, Agent, in addition
to all other rights, options, and remedies granted to Agent under this Agreement or at law or in equity, may exercise, either directly
or through one or more assignees or designees, all rights and remedies granted to it under all Financing Documents and under the UCC in
effect in the applicable jurisdiction(s) and under any other applicable law; including, without limitation:

 

(i)            the
right to take possession of, send notices regarding, and collect directly the Collateral, with or without judicial process;

 

(ii)            the
right to (by its own means or with judicial assistance) enter any of Credit Parties’ premises and take possession of the Collateral,
or render it unusable, or to render it usable or saleable, or dispose of the Collateral on such premises in compliance with subsection (iii) below
and to take possession of Credit Parties’ original books and records, to obtain access to Credit Parties’ data processing
equipment, computer hardware and software relating to the Collateral and to use all of the foregoing and the information contained therein
in any manner Agent deems appropriate, without any liability for rent, storage, utilities, or other sums, and Credit Parties shall not
resist or interfere with such action (if Credit Parties’ books and records are prepared or maintained by an accounting service,
contractor or other third party agent, Credit Parties hereby irrevocably authorize such service, contractor or other agent, upon notice
by Agent to such Person that an Event of Default has occurred and is continuing, to deliver to Agent or its designees such books and records,
and to follow Agent’s instructions with respect to further services to be rendered);

 

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(iii)            the
right to require Credit Parties at Credit Parties’ expense to assemble all or any part of the Collateral and make it available to
Agent at any place designated by Agent;

 

(iv)            the
right to notify postal authorities to change the address for delivery of Credit Parties’ mail to an address designated by Agent
and to receive, open and dispose of all mail addressed to any Credit Party; and/or

 

(v)            the
right to enforce Credit Parties’ rights against Account Debtors and other obligors, including, without limitation, (i) the
right to collect Accounts directly in Agent’s own name (as agent for Lenders) and to charge the collection costs and expenses, including
attorneys’ fees, to Credit Parties, and (ii) the right, in the name of Agent or any designee of Agent or Credit Parties, to
verify the validity, amount or any other matter relating to any Accounts by mail, telephone, telegraph or otherwise, including, without
limitation, verification of Credit Parties’ compliance with applicable Laws. Credit Parties shall cooperate fully with Agent in
an effort to facilitate and promptly conclude such verification process. Such verification may include contacts between Agent and applicable
federal, state and local regulatory authorities having jurisdiction over the Credit Parties’ affairs, all of which contacts Credit
Parties hereby irrevocably authorize.

 

(b)            Each
Credit Party agrees that a written notice received by it at least ten (10) days before the time of any intended public sale, or
the time after which any private sale or other disposition of the Collateral is to be made, shall be deemed to be reasonable notice
of such sale or other disposition. If permitted by applicable law, any perishable Collateral which threatens to speedily decline in
value or which is sold on a recognized market may be sold immediately by Agent without prior notice to Credit Parties. At any sale
or disposition of Collateral, Agent may (to the extent permitted by applicable law) purchase all or any part of the Collateral, free
from any right of redemption by Credit Parties, which right is hereby waived and released. Each Credit Party covenants and agrees
not to interfere with or impose any obstacle to Agent’s exercise of its rights and remedies with respect to the Collateral.
Agent shall have no obligation to clean-up or otherwise prepare the Collateral for sale. Agent may comply with any applicable state
or federal law requirements in connection with a disposition of the Collateral and compliance will not be considered to adversely
affect the commercial reasonableness of any sale of the Collateral. Agent may sell the Collateral without giving any warranties as
to the Collateral. Agent may specifically disclaim any warranties of title or the like. This procedure will not be considered to
adversely affect the commercial reasonableness of any sale of the Collateral. If Agent sells any of the Collateral upon credit,
Credit Parties will be credited only with payments actually made by the purchaser, received by Agent and applied to the indebtedness
of the purchaser. In the event the purchaser fails to pay for the Collateral, Agent may resell the Collateral and Credit Parties
shall be credited with the proceeds of the sale. Credit Parties shall remain liable for any deficiency if the proceeds of any sale
or disposition of the Collateral are insufficient to pay all Obligations.

 

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(c)            Without
restricting the generality of the foregoing and for the purposes aforesaid, each Credit Party hereby appoints and constitutes Agent its
lawful attorney-in-fact with full power of substitution in the Collateral, upon the occurrence and during the continuance of an Event
of Default, to (i) use unadvanced funds remaining under this Agreement or which may be reserved, escrowed or set aside for any purposes
hereunder at any time, or to advance funds in excess of the Revolving Loan Commitments, (ii) pay, settle or compromise all existing
bills and claims, which may be Liens or security interests, or to avoid such bills and claims becoming Liens against the Collateral,
(iii) execute all applications and certificates in the name of such Credit Party and to prosecute and defend all actions or proceedings
in connection with the Collateral, and (iv) do any and every act which such Credit Party might do in its own behalf; it being understood
and agreed that this power of attorney in this subsection (c) shall be a power coupled with an interest and cannot be revoked.

 

(d)            Upon
the occurrence and during the continuance of an Event of Default, Agent and each Lender is hereby granted a non-exclusive, royalty-free
license or other right to use, without charge, Credit Parties’ labels, mask works, rights of use of any name, any other Intellectual
Property and advertising matter, and any similar property as it pertains to the Collateral, in completing production of, advertising for
sale, and selling any Collateral and, in connection with Agent’s exercise of its rights under this Article, Credit Parties’
rights under all licenses (whether as licensor or licensee) and all franchise agreements inure to Agent’s and each Lender’s
benefit.

 

Section 10.4          Cash
Collateral. If any Event of Default specified in Section 10.1(e) or 10.1(f) shall occur, (b) the Obligations shall
have otherwise been accelerated pursuant to Section 10.2, or (c) the Revolving Loan Commitment and the obligations of Agent
and the Lenders with respect thereto shall have been terminated pursuant to Section 10.2, then without any request or the taking
of any other action by Agent or the Lenders, Borrowers shall immediately comply with the provisions of Section 2.5(e) with respect
to the deposit of cash collateral to secure the existing Letter of Credit Liability and future payment of related fees.

 

Section 10.5         Default
Rate of Interest. At the election of Agent or Required Lenders, after the occurrence of an Event of Default and for so long as it
continues, (a) the Loans and other Obligations shall bear interest at rates that are two percent (2.0%) per annum in excess of the
rates otherwise payable under this Agreement, and (b) the fee described in Section 2.5(b) shall increase by a rate that
is two percent (2.0%) in excess of the rate otherwise payable under such Section; provided, however,
that in the case of any Event of Default specified in Section 10.1(e) or 10.1(f) above, such default rates shall apply
immediately and automatically without the need for any election or action of any kind on the part of Agent or any Lender.

 

Section 10.6          Setoff
Rights. During the continuance of any Event of Default, each Lender is hereby authorized by each Credit Party at any time or
from time to time, with reasonably prompt subsequent notice to such Credit Party (any prior or contemporaneous notice being hereby
expressly waived) to set off and to appropriate and to apply any and all (a) balances held by such Lender or any of such
Lender’s Affiliates at any of its offices for the account of such Credit Party or any of its Subsidiaries (regardless of
whether such balances are then due to such Credit Party or its Subsidiaries), and (b) other property at any time held or owing
by such Lender to or for the credit or for the account of such Credit Party or any of its Subsidiaries, against and on account of
any of the Obligations; except that no Lender shall exercise any such right without the prior written consent of Agent. Any Lender
exercising a right to set off shall purchase for cash (and the other Lenders shall sell) interests in each of such other
Lender’s Pro Rata Share of the Obligations as would be necessary to cause all Lenders to share the amount so set off with each
other Lender in accordance with their respective Pro Rata Share of the Obligations. Each Credit Party agrees, to the fullest extent
permitted by law, that any Lender and any of such Lender’s Affiliates may exercise its right to set off with respect to the
Obligations as provided in this Section 10.6.

 

Section 10.7         Application
of Proceeds.

 

(a)            Notwithstanding
anything to the contrary contained in this Agreement, upon the occurrence and during the continuance of an Event of Default, each Credit
Party irrevocably waives the right to direct the application of any and all payments at any time or times thereafter received by Agent
from or on behalf of such Credit Party of all or any part of the Obligations, and, as between Credit Parties on the one hand and Agent
and Lenders on the other, Agent shall have the continuing and exclusive right to apply and to reapply any and all payments received against
the Obligations in such manner as Agent may deem advisable notwithstanding any previous application by Agent.

 

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(b)            Following
the occurrence and continuance of an Event of Default, but absent the occurrence and continuance of an Acceleration Event, Agent shall
apply any and all payments received by Agent in respect of the Obligations, and any and all proceeds of Collateral received by Agent,
in such order as Agent may from time to time elect.

 

(c)            Notwithstanding
anything to the contrary contained in this Agreement, if an Acceleration Event shall have occurred, and so long as it continues, Agent
shall apply any and all payments received by Agent in respect of the Obligations, and any and all proceeds of Collateral received by Agent,
in the following order: first, to all fees, costs, indemnities, liabilities, obligations and expenses incurred by or owing
to Agent with respect to this Agreement, the other Financing Documents or the Collateral; second, to all fees, costs, indemnities,
liabilities, obligations and expenses incurred by or owing to any Lender with respect to this Agreement, the other Financing Documents
or the Collateral; third, to accrued and unpaid interest on the Obligations (including any interest which, but for the provisions
of the Bankruptcy Code, would have accrued on such amounts); fourth, to the principal amount of the Obligations outstanding
and to provide cash collateral to secure any and all Letter of Credit Liability and future payment of related fees, as provided for in
Section 2.5(e); and fifth to any other indebtedness or obligations of Credit Parties owing to Agent or any Lender under
the Financing Documents. Any balance remaining shall be delivered to Credit Parties or to whomever may be lawfully entitled to receive
such balance or as a court of competent jurisdiction may direct. In carrying out the foregoing, (y) amounts received shall be applied
in the numerical order provided until exhausted prior to the application to the next succeeding category, and (z) each of the Persons
entitled to receive a payment in any particular category shall receive an amount equal to its Pro Rata Share of amounts available to be
applied pursuant thereto for such category.

 

Section 10.8          Waivers.
To the fullest extent permitted under applicable law:

 

(a)            Except
as otherwise provided for in this Agreement and to the fullest extent permitted by applicable law, each Credit Party waives: (i) presentment,
demand and protest, and notice of presentment, dishonor, intent to accelerate, acceleration, protest, default, nonpayment, maturity, release,
compromise, settlement, extension or renewal of any or all Financing Documents, the Notes or any other notes, commercial paper, accounts,
contracts, documents, Instruments, Chattel Paper and Guarantees at any time held by Lenders on which any Credit Party may in any
way be liable, and hereby ratifies and confirms whatever Lenders may lawfully do in this regard; (ii) all rights to notice and a
hearing prior to Agent’s or any Lender’s taking possession or control of, or to Agent’s or any Lender’s replevy,
attachment or levy upon, any Collateral or any bond or security which might be required by any court prior to allowing Agent or any Lender
to exercise any of its remedies; and (iii) the benefit of all valuation, appraisal and exemption Laws. Each Credit Party acknowledges
that it has been advised by counsel of its choices and decisions with respect to this Agreement, the other Financing Documents and the
transactions evidenced hereby and thereby.

 

(b)            Each
Credit Party for itself and all its successors and assigns, (i) agrees that its liability shall not be in any manner affected by
any indulgence, extension of time, renewal, waiver, or modification granted or consented to by Lender and made in accordance with the
terms of any Financing Document; (ii) consents to any indulgences and all extensions of time, renewals, waivers, or modifications
that may be granted by Agent or any Lender with respect to the payment or other provisions of the Financing Documents and made in accordance
with the terms of any Financing Document, and to any substitution, exchange or release of the Collateral, or any part thereof, with or
without substitution, and agrees to the addition or release of any Credit Party, endorsers, guarantors, or sureties, or whether primarily
or secondarily liable, without notice to any other Credit Party and without affecting its liability hereunder; (iii) agrees that
its liability shall be unconditional and without regard to the liability of any other Credit Party, Agent or any Lender for any tax on
the indebtedness; and (iv) to the fullest extent permitted by law, expressly waives the benefit of any statute or rule of law
or equity now provided, or which may hereafter be provided, which would produce a result contrary to or in conflict with the foregoing.

 

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(c)            To
the extent that Agent or any Lender may have acquiesced in any noncompliance with any requirements or conditions precedent to the closing
of the Loans or to any subsequent disbursement of Loan proceeds, such acquiescence shall not be deemed to constitute a waiver by Agent
or any Lender of such requirements with respect to any future disbursements of Loan proceeds and Agent may at any time after such acquiescence
require Credit Parties to comply with all such requirements. Any forbearance by Agent or Lender in exercising any right or remedy under
any of the Financing Documents, or otherwise afforded by applicable law, including any failure to accelerate the maturity date of the
Loans, shall not be a waiver of or preclude the exercise of any right or remedy nor shall it serve as a novation of the Notes or as a
reinstatement of the Loans or a waiver of such right of acceleration or the right to insist upon strict compliance of the terms of the
Financing Documents. Agent’s or any Lender’s acceptance of payment of any sum secured by any of the Financing Documents after
the due date of such payment shall not be a waiver of Agent’s and such Lender’s right to either require prompt payment when
due of all other sums so secured or to declare a default for failure to make prompt payment. The procurement of insurance or the payment
of taxes or other Liens or charges by Agent as the result of an Event of Default shall not be a waiver of Agent’s right to accelerate
the maturity of the Loans, nor shall Agent’s receipt of any condemnation awards, insurance proceeds, or damages under this Agreement
operate to cure or waive any Credit Party’s default in payment of sums secured by any of the Financing Documents.

 

(d)            Without
limiting the generality of anything contained in this Agreement or the other Financing Documents, each Credit Party agrees that if an
Event of Default is continuing (i) Agent and Lenders shall not be subject to any “one action” or “election of remedies”
law or rule, and (ii) all Liens and other rights, remedies or privileges provided to Agent or Lenders shall remain in full force
and effect until Agent or Lenders have exhausted all remedies against the Collateral and any other properties owned by Credit Parties
and the Financing Documents and other security instruments or agreements securing the Loans have been foreclosed, sold and/or otherwise
realized upon in satisfaction of Credit Parties’ obligations under the Financing Documents.

 

(e)            Nothing
contained herein or in any other Financing Document shall be construed as requiring Agent or any Lender to resort to any part of the Collateral
for the satisfaction of any of Credit Parties’ obligations under the Financing Documents in preference or priority to any other
Collateral, and Agent may seek satisfaction out of all of the Collateral or any part thereof, in its absolute discretion in respect of
Credit Parties’ obligations under the Financing Documents. In addition, Agent shall have the right from time to time to partially
foreclose upon any Collateral in any manner and for any amounts secured by the Financing Documents then due and payable as determined
by Agent in its sole discretion, including, without limitation, the following circumstances: (i) in the event any Credit Party defaults
beyond any applicable grace period in the payment of one or more scheduled payments of principal and/or interest, Agent may foreclose
upon all or any part of the Collateral to recover such delinquent payments, or (ii) in the event Agent elects to accelerate less
than the entire outstanding principal balance of the Loans, Agent may foreclose all or any part of the Collateral to recover so much of
the principal balance of the Loans as Lender may accelerate and such other sums secured by one or more of the Financing Documents as Agent
may elect. Notwithstanding one or more partial foreclosures, any unforeclosed Collateral shall remain subject to the Financing Documents
to secure payment of sums secured by the Financing Documents and not previously recovered.

 

(f)            To
the fullest extent permitted by law, each Credit Party, for itself and its successors and assigns, waives in the event of foreclosure
of any or all of the Collateral any equitable right otherwise available to any Credit Party which would require the separate sale of any
of the Collateral or require Agent or Lenders to exhaust their remedies against any part of the Collateral before proceeding against any
other part of the Collateral; and further in the event of such foreclosure each Credit Party does hereby expressly consent to and authorize,
at the option of Agent, the foreclosure and sale either separately or together of each part of the Collateral.

 

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Section 10.9          Injunctive
Relief. The parties acknowledge and agree that, in the event of a breach or threatened breach of any Credit Party’s obligations
under any Financing Documents, Agent and Lenders may have no adequate remedy in money damages and, accordingly, shall be entitled to an
injunction (including, without limitation, a temporary restraining order, preliminary injunction, writ of attachment, or order compelling
an audit) against such breach or threatened breach, including, without limitation, maintaining any cash management and collection procedure
described herein. However, no specification in this Agreement of a specific legal or equitable remedy shall be construed as a waiver or
prohibition against any other legal or equitable remedies in the event of a breach or threatened breach of any provision of this Agreement.
Each Credit Party waives, to the fullest extent permitted by law, the requirement of the posting of any bond in connection with such injunctive
relief. By joining in the Financing Documents as a Credit Party, each Credit Party specifically joins in this Section as if this
Section were a part of each Financing Document executed by such Credit Party.

 

Section 10.10         Marshalling;
Payments Set Aside. Neither Agent nor any Lender shall be under any obligation to marshal any assets in payment of any or all of the
Obligations. To the extent that Credit Party makes any payment or Agent enforces its Liens or Agent or any Lender exercises its right
of set-off, and such payment or the proceeds of such enforcement or set-off is subsequently invalidated, declared to be fraudulent or
preferential, set aside, or required to be repaid by anyone, then to the extent of such recovery, the Obligations or part thereof originally
intended to be satisfied, and all Liens, rights and remedies therefor, shall be revived and continued in full force and effect as if such
payment had not been made or such enforcement or set-off had not occurred.

 

ARTICLE 11 - - AGENT

 

Section 11.1         Appointment
and Authorization. Each Lender hereby irrevocably appoints and authorizes Agent to enter into each of the Financing Documents to which
it is a party (other than this Agreement) on its behalf and to take such actions as Agent on its behalf and to exercise such powers under
the Financing Documents as are delegated to Agent by the terms thereof, together with all such powers as are reasonably incidental thereto.
Subject to the terms of Section 11.16 and to the terms of the other Financing Documents, Agent is authorized and empowered to amend,
modify, or waive any provisions of this Agreement or the other Financing Documents on behalf of Lenders. The provisions of this Article 11
are solely for the benefit of Agent and Lenders and neither any Borrower nor any other Credit Party shall have any rights as a third party
beneficiary of any of the provisions hereof. In performing its functions and duties under this Agreement, Agent shall act solely as agent
of Lenders and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or
for any Borrower or any other Credit Party. Agent may perform any of its duties hereunder, or under the Financing Documents, by or through
its agents, servicers, trustees, investment managers or employees.

 

Section 11.2          Agent
and Affiliates. Agent shall have the same rights and powers under the Financing Documents as any other Lender and may exercise or
refrain from exercising the same as though it were not Agent, and Agent and its Affiliates may lend money to, invest in and generally
engage in any kind of business with each Credit Party or Affiliate of any Credit Party as if it were not Agent hereunder.

 

Section 11.3          Action
by Agent. The duties of Agent shall be mechanical and administrative in nature. Agent shall not have by reason of this Agreement
a fiduciary relationship in respect of any Lender. Nothing in this Agreement or any of the Financing Documents is intended to or shall
be construed to impose upon Agent any obligations in respect of this Agreement or any of the Financing Documents except as expressly
set forth herein or therein.

 

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Section 11.4           Consultation
with Experts. Agent may consult with legal counsel, independent public accountants and other experts selected by it and shall not
be liable for any action taken or omitted to be taken by it in good faith in accordance with the advice of such counsel, accountants or
experts.

 

Section 11.5          Liability
of Agent. Neither Agent nor any of its directors, officers, agents, trustees, investment managers, servicers or employees shall be
liable to any Lender for any action taken or not taken by it in connection with the Financing Documents, except that Agent shall be liable
with respect to its specific duties set forth hereunder but only to the extent of its own gross negligence or willful misconduct in the
discharge thereof as determined by a final non-appealable judgment of a court of competent jurisdiction. Neither Agent nor any of its
directors, officers, agents, trustees, investment managers, servicers or employees shall be responsible for or have any duty to ascertain,
inquire into or verify (a) any statement, warranty or representation made in connection with any Financing Document or any borrowing
hereunder; (b) the performance or observance of any of the covenants or agreements specified in any Financing Document; (c) the
satisfaction of any condition specified in any Financing Document; (d) the validity, effectiveness, sufficiency or genuineness of
any Financing Document, any Lien purported to be created or perfected thereby or any other instrument or writing furnished in connection
therewith; (e) the existence or non-existence of any Default or Event of Default; or (f) the financial condition of any Credit
Party. Agent shall not incur any liability by acting in reliance upon any notice, consent, certificate, statement, or other writing (which
may be a bank wire, facsimile or electronic transmission or similar writing) believed by it to be genuine or to be signed by the proper
party or parties. Agent shall not be liable for any apportionment or distribution of payments made by it in good faith and if any such
apportionment or distribution is subsequently determined to have been made in error the sole recourse of any Lender to whom payment was
due but not made, shall be to recover from other Lenders any payment in excess of the amount to which they are determined to be entitled
(and such other Lenders hereby agree to return to such Lender any such erroneous payments received by them).

 

Section 11.6           Indemnification.
Each Lender shall, in accordance with its Pro Rata Share, indemnify Agent (to the extent not reimbursed by Credit Parties) upon demand
against any cost, expense (including counsel fees and disbursements), claim, demand, action, loss or liability (except such as result
from Agent’s gross negligence or willful misconduct as determined by a final non-appealable judgment of a court of competent jurisdiction)
that Agent may suffer or incur in connection with the Financing Documents or any action taken or omitted by Agent hereunder or thereunder.
If any indemnity furnished to Agent for any purpose shall, in the opinion of Agent, be insufficient or become impaired, Agent may call
for additional indemnity and cease, or not commence, to do the acts indemnified against even if so directed by Required Lenders until
such additional indemnity is furnished. Each Lender further agrees to severally indemnify the Agent
for, within 10 days after demand therefor, any Taxes attributable to such Lender’s failure to comply with the provisions of Section 11.17(a)(iii) relating
to the maintenance of a Participant Register that are payable or paid by the Agent in connection with any Financing Document, and any
reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted
by the relevant Governmental Authority. Each Lender hereby authorizes the Agent to set off and apply any and all amounts at any time owing
to such Lender under any Financing Document or otherwise payable by the Agent to the Lender from any other source against any amount due
to the Agent under this Section 11.6.

 

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Section 11.7           Right
to Request and Act on Instructions. Agent may at any time request instructions from Lenders with respect to any actions or approvals
which by the terms of this Agreement or of any of the Financing Documents Agent is permitted or desires to take or to grant, and if such
instructions are promptly requested, Agent shall be absolutely entitled to refrain from taking any action or to withhold any approval
and shall not be under any liability whatsoever to any Person for refraining from any action or withholding any approval under any of
the Financing Documents until it shall have received such instructions from Required Lenders or all or such other portion of the Lenders
as shall be prescribed by this Agreement. Without limiting the foregoing, no Lender shall have any right of action whatsoever against
Agent as a result of Agent acting or refraining from acting under this Agreement or any of the other Financing Documents in accordance
with the instructions of Required Lenders (or all or such other portion of the Lenders as shall be prescribed by this Agreement) and,
notwithstanding the instructions of Required Lenders (or such other applicable portion of the Lenders), Agent shall have no obligation
to take any action if it believes, in good faith, that such action would violate applicable Law or exposes Agent to any liability for
which it has not received satisfactory indemnification in accordance with the provisions of Section 11.6.

 

Section 11.8          Credit
Decision. Each Lender acknowledges that it has, independently and without reliance upon Agent or any other Lender and, based on such
documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender
also acknowledges that it will, independently and without reliance upon Agent or any other Lender and, based on such documents and information
as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking any action under the Financing
Documents.

 

Section 11.9          Collateral
Matters. Lenders irrevocably authorize Agent, at its option and in its discretion, to (a) release any Lien granted to or held
by Agent under any Security Document (i) upon termination of the Revolving Loan Commitment and payment in full of all Obligations
(other than contingent and indemnification obligations to the extent no claims giving rise thereto have been asserted); or (ii) constituting
property sold or disposed of as part of or in connection with any disposition permitted under any Financing Document (it being understood
and agreed that Agent may conclusively rely without further inquiry on a certificate of a Responsible Officer as to the sale or other
disposition of property being made in full compliance with the provisions of the Financing Documents); and (b) subordinate any Lien
granted to or held by Agent under any Security Document to a Permitted Lien that is allowed to have priority over the Liens granted to
or held by Agent pursuant to the definition of “Permitted Liens”. Upon request by Agent at any time, Lenders will confirm
Agent’s authority to release and/or subordinate particular types or items of Collateral pursuant to this Section 11.9.

 

Section 11.10         Agency
for Perfection. Agent and each Lender hereby appoint each other Lender as agent for the purpose of perfecting Agent’s security
interest in assets which, in accordance with the Uniform Commercial Code in any applicable jurisdiction, can be perfected by possession
or control. Should any Lender (other than Agent) obtain possession or control of any such assets, such Lender shall notify Agent thereof,
and, promptly upon Agent’s request therefor, shall deliver such assets to Agent or in accordance with Agent’s instructions
or transfer control to Agent in accordance with Agent’s instructions. Each Lender agrees that it will not have any right individually
to enforce or seek to enforce any Security Document or to realize upon any Collateral for the Loan unless instructed to do so by Agent
(or consented to by Agent), it being understood and agreed that such rights and remedies may be exercised only by Agent.

 

Section 11.11        Notice
of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default except with
respect to defaults in the payment of principal, interest and fees required to be paid to Agent for the account of Lenders, unless Agent
shall have received written notice from a Lender or a Borrower referring to this Agreement, describing such Default or Event of Default
and stating that such notice is a “notice of default”. Agent will notify each Lender of its receipt of any such notice. Agent
shall take such action with respect to such Default or Event of Default as may be requested by Required Lenders (or all or such other
portion of the Lenders as shall be prescribed by this Agreement) in accordance with the terms hereof. Unless and until Agent has received
any such request, Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such
Default or Event of Default as it shall deem advisable or in the best interests of Lenders.

 

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Section 11.12       Assignment
by Agent; Resignation of Agent; Successor Agent.

 

(a)            Agent
may at any time assign its rights, powers, privileges and duties hereunder to (i) another Lender or an Affiliate of Agent or any
Lender or any Approved Fund, or (ii) any Person to whom Agent, in its capacity as a Lender, has assigned (or will assign, in conjunction
with such assignment of agency rights hereunder) 50% or more of its Loan, in each case without the consent of the Lenders or Borrowers.
Following any such assignment, Agent shall endeavor to give notice to the Lenders and Borrowers. Failure to give such notice shall not
affect such assignment in any way or cause the assignment to be ineffective. An assignment by Agent pursuant to this subsection (a) shall
not be deemed a resignation by Agent for purposes of subsection (b) below.

 

(b)            Without
limiting the rights of Agent to designate an assignee pursuant to subsection (a) above, Agent may at any time give notice
of its resignation to the Lenders and Borrowers. Upon receipt of any such notice of resignation, Required Lenders shall have the
right to appoint a successor Agent. If no such successor shall have been so appointed by Required Lenders and shall have accepted
such appointment within ten (10) Business Days after the retiring Agent gives notice of its resignation, then the retiring
Agent may on behalf of the Lenders, appoint a successor Agent; provided, however, that if Agent shall notify Borrowers and
the Lenders that no Person has accepted such appointment, then such resignation shall nonetheless become effective in accordance
with such notice from Agent that no Person has accepted such appointment and, from and following delivery of such notice,
(i) the retiring Agent shall be discharged from its duties and obligations hereunder and under the other Financing Documents,
and (ii) all payments, communications and determinations provided to be made by, to or through Agent shall instead be made by
or to each Lender directly, until such time as Required Lenders appoint a successor Agent as provided for above in this
paragraph.

 

(c)            Upon
(i) an assignment permitted by subsection (a) above, or (ii) the acceptance of a successor’s appointment as
Agent pursuant to subsection (b) above, such successor shall succeed to and become vested with all of the rights, powers, privileges
and duties of the retiring (or retired) Agent, and the retiring Agent shall be discharged from all of its duties and obligations hereunder
and under the other Financing Documents (if not already discharged therefrom as provided above in this paragraph). The fees payable by
Borrowers to a successor Agent shall be the same as those payable to its predecessor unless otherwise agreed between Borrowers and such
successor. After the retiring Agent’s resignation hereunder and under the other Financing Documents, the provisions of this Article and
Section 11.12 shall continue in effect for the benefit of such retiring Agent and its sub-agents in respect of any actions taken
or omitted to be taken by any of them while the retiring Agent was acting or was continuing to act as Agent.

 

Section 11.13        Payment
and Sharing of Payment.

 

(a)            Revolving
Loan Advances, Payments and Settlements; Interest and Fee Payments.

 

(i)            Agent
shall have the right, on behalf of Revolving Lenders to disburse funds to Borrowers for all Revolving Loans requested or deemed requested
by Borrowers pursuant to the terms of this Agreement. Agent shall be conclusively entitled to assume, for purposes of the preceding sentence,
that each Revolving Lender, other than any Non-Funding Lenders, will fund its Pro Rata Share of all Revolving Loans requested by Borrowers.
Each Revolving Lender shall reimburse Agent on demand, in accordance with the provisions of the immediately following paragraph, for all
funds disbursed on its behalf by Agent pursuant to the first sentence of this clause (i), or if Agent so requests, each Revolving
Lender will remit to Agent its Pro Rata Share of any Revolving Loan before Agent disburses the same to a Borrower. If Agent elects to
require that each Revolving Lender make funds available to Agent, prior to a disbursement by Agent to a Borrower, Agent shall advise each
Revolving Lender by telephone, facsimile or e-mail of the amount of such Revolving Lender’s Pro Rata Share of the Revolving Loan
requested by such Borrower no later than noon (Eastern time) on the date of funding of such Revolving Loan, and each such Revolving Lender
shall pay Agent on such date such Revolving Lender’s Pro Rata Share of such requested Revolving Loan, in same day funds, by wire
transfer to the Payment Account, or such other account as may be identified by Agent to Revolving Lenders from time to time. If any Lender
fails to pay the amount of its Pro Rata Share of any funds advanced by Agent pursuant to the first sentence of this clause (i) within
one (1) Business Day after Agent’s demand, Agent shall promptly notify Borrower Representative, and Borrowers shall immediately
repay such amount to Agent. Any repayment required by Borrowers pursuant to this Section 11.13 shall be accompanied by accrued interest
thereon from and including the date such amount is made available to a Borrower to but excluding the date of payment at the rate of interest
then applicable to Revolving Loans. Nothing in this Section 11.13 or elsewhere in this Agreement or the other Financing Documents
shall be deemed to require Agent to advance funds on behalf of any Lender or to relieve any Lender from its obligation to fulfill its
commitments hereunder or to prejudice any rights that Agent or any Borrower may have against any Lender as a result of any default by
such Lender hereunder.

 

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(ii)            On
a Business Day of each week as selected from time to time by Agent, or more frequently (including daily), if Agent so elects (each
such day being a “Settlement Date”), Agent will advise each Revolving Lender by telephone, facsimile or e-mail of the
amount of each such Revolving Lender’s percentage interest of the Revolving Loan balance as of the close of business of the
Business Day immediately preceding the Settlement Date. In the event that payments are necessary to adjust the amount of such
Revolving Lender’s actual percentage interest of the Revolving Loans to such Lender’s required percentage interest of
the Revolving Loan balance as of any Settlement Date, the Revolving Lender from which such payment is due shall pay Agent, without
setoff or discount, to the Payment Account before 1:00 p.m. (Eastern time) on the Business Day following the Settlement
Date the full amount necessary to make such adjustment. Any obligation arising pursuant to the immediately preceding sentence shall
be absolute and unconditional and shall not be affected by any circumstance whatsoever. In the event settlement shall not have
occurred by the date and time specified in the second preceding sentence, interest shall accrue on the unsettled amount at the rate
of interest then applicable to Revolving Loans.

 

(iii)            On
each Settlement Date, Agent shall advise each Revolving Lender by telephone, facsimile or e-mail of the amount of such Revolving Lender’s
percentage interest of principal, interest and fees paid for the benefit of Revolving Lenders with respect to each applicable Revolving
Loan, to the extent of such Revolving Lender’s Revolving Loan Exposure with respect thereto, and shall make payment to such Revolving
Lender before 1:00 p.m. (Eastern time) on the Business Day following the Settlement Date of such amounts in accordance with
wire instructions delivered by such Revolving Lender to Agent, as the same may be modified from time to time by written notice to Agent;
provided, however, that, in the case such Revolving Lender is a Defaulted Lender, Agent shall be entitled to set off the funding
short-fall against that Defaulted Lender’s respective share of all payments received from any Borrower.

 

(iv)            On
the Closing Date, Agent, on behalf of Lenders, may elect to advance to Borrowers the full amount of the initial Loans to be made on the
Closing Date prior to receiving funds from Lenders, in reliance upon each Lender’s commitment to make its Pro Rata Share of such
Loans to Borrowers in a timely manner on such date. If Agent elects to advance the initial Loans to Borrower in such manner, Agent shall
be entitled to receive all interest that accrues on the Closing Date on each Lender’s Pro Rata Share of such Loans unless Agent
receives such Lender’s Pro Rata Share of such Loans before 3:00 p.m. (Eastern time) on the Closing Date.

 

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(v)            It
is understood that for purposes of advances to Borrowers made pursuant to this Section 11.13, Agent will be using the funds of Agent,
and pending settlement, (A) all funds transferred from the Payment Account to the outstanding Revolving Loans shall be applied first
to advances made by Agent to Borrowers pursuant to this Section 11.13, and (B) all interest accruing on such advances shall
be payable to Agent.

 

(vi)            The
provisions of this Section 11.13(a) shall be deemed to be binding upon Agent and Lenders notwithstanding the occurrence of any
Default or Event of Default, or any insolvency or bankruptcy proceeding pertaining to any Borrower or any other Credit Party.

 

(b)            [Reserved].

 

(c)            Return
of Payments.

 

(i)            If
Agent pays an amount to a Lender under this Agreement in the belief or expectation that a related payment has been or will be received
by Agent from a Borrower and such related payment is not received by Agent, then Agent will be entitled to recover such amount from such
Lender on demand without setoff, counterclaim or deduction of any kind, together with interest accruing on a daily basis at the Federal
Funds Rate.

 

(ii)            If
Agent determines at any time that any amount received by Agent under this Agreement must be returned to any Borrower or paid to any
other Person pursuant to any insolvency law or otherwise, then, notwithstanding any other term or condition of this Agreement or any
other Financing Document, Agent will not be required to distribute any portion thereof to any Lender. In addition, each Lender will
repay to Agent on demand any portion of such amount that Agent has distributed to such Lender, together with interest at such rate,
if any, as Agent is required to pay to any Borrower or such other Person, without setoff, counterclaim or deduction of any kind.

 

(d)            Defaulted
Lenders. The failure of any Defaulted Lender to make any payment required by it hereunder shall not relieve any other Lender of its
obligations to make payment, but neither any other Lender nor Agent shall be responsible for the failure of any Defaulted Lender to make
any payment required hereunder. Notwithstanding anything set forth herein to the contrary, a Defaulted Lender shall not have any voting
or consent rights under or with respect to any Financing Document or constitute a “Lender” (or be included in the calculation
of “Required Lenders” hereunder) for any voting or consent rights under or with respect to any Financing Document.

 

(e)            Sharing
of Payments. If any Lender shall obtain any payment or other recovery (whether voluntary, involuntary, by application of setoff or
otherwise) on account of any Loan (other than pursuant to the terms of Section 2.8(d)) in excess of its Pro Rata Share of payments
entitled pursuant to the other provisions of this Section 11.13, such Lender shall purchase from the other Lenders such participations
in extensions of credit made by such other Lenders (without recourse, representation or warranty) as shall be necessary to cause such
purchasing Lender to share the excess payment or other recovery ratably with each of them; provided, however, that if all or any
portion of the excess payment or other recovery is thereafter required to be returned or otherwise recovered from such purchasing Lender,
such portion of such purchase shall be rescinded and each Lender which has sold a participation to the purchasing Lender shall repay to
the purchasing Lender the purchase price to the ratable extent of such return or recovery, without interest. Each Borrower agrees that
any Lender so purchasing a participation from another Lender pursuant to this clause (e) may, to the fullest extent permitted
by law, exercise all its rights of payment (including pursuant to Section 10.6) with respect to such participation as fully as if
such Lender were the direct creditor of Borrowers in the amount of such participation. If under any applicable bankruptcy, insolvency
or other similar law, any Lender receives a secured claim in lieu of a setoff to which this clause (e) applies, such Lender
shall, to the extent practicable, exercise its rights in respect of such secured claim in a manner consistent with the rights of the Lenders
entitled under this clause (e) to share in the benefits of any recovery on such secured claim.

 

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Section 11.14        Right
to Perform, Preserve and Protect. If any Credit Party fails to perform any obligation hereunder or under any other Financing Document,
Agent itself may, but shall not be obligated to, cause such obligation to be performed at Borrowers’ expense. Agent is further authorized
by Borrowers and the Lenders to make expenditures from time to time which Agent, in its reasonable business judgment, deems necessary
or desirable to (a) preserve or protect the business conducted by Borrowers, the Collateral, or any portion thereof, and/or (b) enhance
the likelihood of, or maximize the amount of, repayment of the Loan and other Obligations. Each Borrower hereby agrees to reimburse Agent
on demand for any and all costs, liabilities and obligations incurred by Agent pursuant to this Section 11.14. Each Lender hereby
agrees to indemnify Agent upon demand for any and all costs, liabilities and obligations incurred by Agent pursuant to this Section 11.14,
in accordance with the provisions of Section 11.6.

 

Section 11.15       Additional
Titled Agents. Except for rights and powers, if any, expressly reserved under this Agreement to any bookrunner, arranger or to any
titled agent named on the cover page of this Agreement, other than Agent (collectively, the “Additional Titled Agents”),
and except for obligations, liabilities, duties and responsibilities, if any, expressly assumed under this Agreement by any Additional
Titled Agent, no Additional Titled Agent, in such capacity, has any rights, powers, liabilities, duties or responsibilities hereunder
or under any of the other Financing Documents. Without limiting the foregoing, no Additional Titled Agent shall have nor be deemed to
have a fiduciary relationship with any Lender. At any time that any Lender serving as an Additional Titled Agent shall have transferred
to any other Person (other than any Affiliates) all of its interests in the Loan, such Lender shall be deemed to have concurrently resigned
as such Additional Titled Agent.

 

Section 11.16        Amendments
and Waivers.

 

(a)            No
provision of this Agreement or any other Financing Document may be materially amended, waived or otherwise modified unless such
amendment, waiver or other modification is in writing and is signed or otherwise approved by Borrowers, the Required Lenders and any
other Lender to the extent required under Section 11.16(b); provided, however, the Fee Letter may be amended, or rights
or privileges thereunder waived, in a writing executed only by the parties thereto.

 

(b)            In
addition to the required signatures under Section 11.16(a), no provision of this Agreement or any other Financing Document may be
amended, waived or otherwise modified unless such amendment, waiver or other modification is in writing and is signed or otherwise approved
by the following Persons:

 

(i)            if
any amendment, waiver or other modification would increase a Lender’s Revolving Loan Commitment, by such Lender; and/or

 

(ii)            if
the rights or duties of Agent or LC Issuer are affected thereby, by Agent and LC Issuer, respectively, as the case may be;

 

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provided,
however, that, in each of (i) and (ii) above, no such amendment, waiver or other modification shall, unless signed
or otherwise approved in writing by all the Lenders directly affected thereby, (A) reduce the principal of, rate of interest on or
any fees with respect to any Loan or Reimbursement Obligation or forgive any principal, interest (other than default interest) or fees
(other than late charges) with respect to any Loan or Reimbursement Obligation; (B) postpone the date fixed for, or waive, any payment
(other than any mandatory prepayment pursuant to Section 2.1(b)(ii)) of principal of any Loan or of any Reimbursement Obligation,
or of interest on any Loan or Reimbursement Obligation (other than default interest) or any fees provided for hereunder (other than late
charges) or postpone the date of termination of any commitment of any Lender hereunder; (C) change the definition of the term Required
Lenders or the percentage of Lenders which shall be required for Lenders to take any action hereunder; (D) release all or substantially
all of the Collateral, authorize any Borrower to sell or otherwise dispose of all or substantially all of the Collateral, release any
Guarantor of all or any portion of the Obligations or its Guarantee obligations with respect thereto, except, in each case with respect
to this clause (D), as otherwise may be provided in this Agreement or the other Financing Documents (including in connection with
any disposition permitted hereunder); (E) amend, waive or otherwise modify this Section 11.16(b) or the definitions of
the terms used in this Section 11.16(b) insofar as the definitions affect the substance of this Section 11.16(b); (F) consent
to the assignment, delegation or other transfer by any Credit Party of any of its rights and obligations under any Financing Document
or release any Borrower of its payment obligations under any Financing Document, except, in each case with respect to this clause (F),
pursuant to a merger or consolidation permitted pursuant to this Agreement; or (G) amend any of the provisions of Section 10.7
or amend any of the definitions Pro Rata Share, Revolving Loan Commitment, Revolving Loan Commitment Amount, Revolving Loan Commitment
Percentage or that provide for the Lenders to receive their Pro Rata Shares of any fees, payments, setoffs or proceeds of Collateral hereunder.
It is hereby understood and agreed that all Lenders shall be deemed directly affected by an amendment, waiver or other modification of
the type described in the preceding clauses (C), (D), (E), (F) and (G) of the preceding sentence.

 

Section 11.17        Assignments
and Participations.

 

(a)            Assignments.

 

(i)            Any
Lender may at any time assign to one or more Eligible Assignees all or any portion of such Lender’s Loan together with all
related obligations of such Lender hereunder with the prior written consent (such consent not be unreasonably withheld or delayed)
of Borrower Representative; provided that no consent of Borrower Representative shall be required (A) if an Event of
Default has occurred and is continuing, or (B) in connection with an assignment to a Person that is a Lender, Agent or an
Affiliate (other than natural persons) of a Lender or Agent or an Approved Fund. Notwithstanding anything in this Section 11.17
to the contrary, if the consent of the Borrower Representative is otherwise required by this paragraph with respect to any
assignment hereunder, and the Borrower Representative has not given the Agent written notice of its objection to such assignment
within 5 Business Days after written notice to the Borrower Representative, the Borrower Representative shall be deemed to have
consented to such assignment. Except as Agent may
otherwise agree, the amount of any such assignment (determined as of the date of the applicable Assignment Agreement or, if a
 “Trade Date” is specified in such Assignment Agreement, as of such Trade Date) shall be in a minimum aggregate amount
equal to $1,000,000 or, if less, the assignor’s entire interests in the outstanding Loan; provided, however,
that, in connection with simultaneous assignments to two or more related Approved Funds, such Approved Funds shall be treated as one
assignee for purposes of determining compliance with the minimum assignment size referred to above. Borrowers and Agent shall be
entitled to continue to deal solely and directly with such Lender in connection with the interests so assigned to an Eligible
Assignee until Agent shall have received and accepted an effective Assignment Agreement executed, delivered and fully completed by
the applicable parties thereto and a processing fee of $3,500 to be paid by the assigning Lender (unless waived by Agent); provided,
however, that only one processing fee shall be payable in connection with simultaneous assignments to two or more related
Approved Funds.

 

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(ii)            From
and after the date on which the conditions described above have been met, (A) such Eligible Assignee shall be deemed automatically
to have become a party hereto and, to the extent of the interests assigned to such Eligible Assignee pursuant to such Assignment Agreement,
shall have the rights and obligations of a Lender hereunder, and (B) the assigning Lender, to the extent that rights and obligations
hereunder have been assigned by it pursuant to such Assignment Agreement, shall be released from its rights and obligations hereunder
(other than those that survive termination pursuant to Section 13.1). Upon the request of the Eligible Assignee (and, as applicable,
the assigning Lender) pursuant to an effective Assignment Agreement, each Borrower shall execute and deliver to Agent for delivery to
the Eligible Assignee (and, as applicable, the assigning Lender) Notes in the aggregate principal amount of the Eligible Assignee’s
Loan (and, as applicable, Notes in the principal amount of that portion of the principal amount of the Loan retained by the assigning
Lender). Upon receipt by the assigning Lender of such Note, the assigning Lender shall return to Borrower Representative any prior Note
held by it.

 

(iii)            Agent,
acting solely for this purpose as an agent of Borrower, shall maintain at the office of its servicer located in Bethesda, Maryland a copy
of each Assignment Agreement delivered to it and a register for the recordation of the names and addresses of each Lender, and the commitments
of, and principal amount of (and stated interest on) the Loan owing to, such Lender pursuant to the terms hereof (the “Register”).
The entries in such Register shall be conclusive, and Borrower, Agent and Lenders may treat each Person whose name is recorded therein
pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. Such Register
shall be available for inspection by Borrower and any Lender, at any reasonable time upon reasonable prior notice to Agent. Each Lender
that sells a participation shall, acting solely for this purpose as an agent of Borrowers maintain a register on which it enters the name
and address of each participant and the principal amounts of (and stated interest on) each participant’s interest in the Obligations
(each, a “Participant Register”). The entries in the Participant Registers shall be conclusive, absent manifest error.
Each Participant Register shall be available for inspection by Borrowers and Agent at any reasonable time upon reasonable prior notice
to the applicable Lender; provided, that no Lender shall have any obligation to disclose all or any portion of the Participant
Register (including the identity of any Participant or any information relating to a Participant’s interest in any commitments,
loans, letters of credit or its other obligations under any Financing Document) to any Person (including Borrowers) except to the extent
that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form
under Section 5f.103-1(c) of the United States Treasury Regulations. For the avoidance of doubt, Agent (in its capacity as Agent)
shall have no responsibility for maintaining a Participant Register. Any attempted assignment, sale of a participation or other transfer
of any interest in any obligation hereunder that does not comply with this Section 11.17(a)(iii) shall be null and void and
have no effect.

 

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(iv)            Notwithstanding
the foregoing provisions of this Section 11.17(a) or any other provision of this Agreement, any Lender may at any time pledge
or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including
any pledge or assignment to secure obligations to a Federal Reserve Bank; provided, however, 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.

 

(v)             Notwithstanding
the foregoing provisions of this Section 11.17(a) or any other provision of this Agreement, Agent has the right, but not the
obligation, to effectuate assignments of Loan via an electronic settlement system acceptable to Agent as designated in writing from time
to time to the Lenders by Agent (the “Settlement Service”). At any time when the Agent elects, in its sole discretion,
to implement such Settlement Service, each such assignment shall be effected by the assigning Lender and proposed assignee pursuant to
the procedures then in effect under the Settlement Service, which procedures shall be consistent with the other provisions of this Section 11.17(a).
Each assigning Lender and proposed Eligible Assignee shall comply with the requirements of the Settlement Service in connection with
effecting any assignment of Loan pursuant to the Settlement Service. With the prior written approval of Agent, Agent’s approval
of such Eligible Assignee shall be deemed to have been automatically granted with respect to any transfer effected through the Settlement
Service. Assignments and assumptions of the Loan shall be effected by the provisions otherwise set forth herein until Agent notifies
Lenders of the Settlement Service as set forth herein.

 

(b)           Participations.
Any Lender may at any time, without the consent of, or notice to, any Borrower or Agent, sell to one or more Persons (other than any
Borrower or any Borrower’s Affiliates) participating interests in its Loan, commitments or other interests hereunder (any such
Person, a “Participant”). In the event of a sale by a Lender of a participating interest to a Participant, (i) such
Lender’s obligations hereunder shall remain unchanged for all purposes, (ii) Borrowers and Agent shall continue to deal solely
and directly with such Lender in connection with such Lender’s rights and obligations hereunder, and (iii) all amounts payable
by each Borrower shall be determined as if such Lender had not sold such participation and shall be paid directly to such Lender. Each
Borrower agrees that if amounts outstanding under this Agreement are due and payable (as a result of acceleration or otherwise), each
Participant shall be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement
to the same extent as if the amount of its participating interest were owing directly to it as a Lender under this Agreement; provided,
however, that such right of set-off shall be subject to the obligation of each Participant to share with Lenders, and Lenders agree
to share with each Participant, as provided in Section 11.5.

 

(c)           Replacement
of Lenders. Within thirty (30) days after: (i) receipt by Agent of notice and demand from any Lender for payment of additional
costs as provided in Section 2.8(h), which demand shall not have been revoked, (ii) any Borrower is required to pay any additional
amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.8(a) through (h), (iii) any
Lender is a Defaulted Lender, and the circumstances causing such status shall not have been cured or waived; or (iv) any failure
by any Lender to consent to a requested amendment, waiver or modification to any Financing Document in which Required Lenders have already
consented to such amendment, waiver or modification but the consent of each Lender, or each Lender affected thereby, is required with
respect thereto (each relevant Lender in the foregoing clauses (i) through (iv) being an “Affected Lender”)
each of Borrower Representative and Agent may, at its option, notify such Affected Lender and, in the case of Borrowers’ election,
Agent, of such Person’s intention to obtain, at Borrowers’ expense, a replacement Lender (“Replacement Lender”)
for such Lender, which Replacement Lender shall be an Eligible Assignee and, in the event the Replacement Lender is to replace an Affected
Lender described in the preceding clause (iv), such Replacement Lender consents to the requested amendment, waiver or modification
making the replaced Lender an Affected Lender. In the event Borrowers or Agent, as applicable, obtains a Replacement Lender within ninety
(90) days following notice of its intention to do so, the Affected Lender shall sell, at par, and assign all of its Loan and funding
commitments hereunder to such Replacement Lender in accordance with the procedures set forth in Section 11.17(a); provided, however,
that (A) Borrowers shall have reimbursed such Lender for its increased costs and additional payments for which it is entitled
to reimbursement under Section 2.8(a) through (h), as applicable, of this Agreement through the date of such sale and assignment,
and (B) Borrowers shall pay to Agent the $3,500 processing fee in respect of such assignment. In the event that a replaced Lender
does not execute an Assignment Agreement pursuant to Section 11.17(a) within five (5) Business Days after receipt by such
replaced Lender of notice of replacement pursuant to this Section 11.17(c) and presentation to such replaced Lender of an Assignment
Agreement evidencing an assignment pursuant to this Section 11.17(c), such replaced Lender shall be deemed to have consented to
the terms of such Assignment Agreement, and any such Assignment Agreement executed by Agent, the Replacement Lender and, to the extent
required pursuant to Section 11.17(a), Borrowers, shall be effective for purposes of this Section 11.17(c) and Section 11.17(a).
Upon any such assignment and payment, such replaced Lender shall no longer constitute a “Lender” for purposes hereof, other
than with respect to such rights and obligations that survive termination as set forth in Section 13.1.

 

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(d)           Credit
Party Assignments. No Credit Party may assign, delegate or otherwise transfer any of its rights or other obligations hereunder or
under any other Financing Document without the prior written consent of Agent and each Lender.

 

Section 11.18         Funding
and Settlement Provisions Applicable When Non-Funding Lenders Exist.

 

So long as Agent has not
waived the conditions to the funding of Loans set forth in Section 7.2 or Section 2.1, any Lender may deliver a notice to Agent
stating that such Lender shall cease making Revolving Loans due to the non-satisfaction of one or more conditions to funding Loans set
forth in Section 7.2 or Section 2.1 and specifying any such non-satisfied conditions. Any Lender delivering any such notice
shall become a non-funding Lender (a “Non-Funding Lender”) for purposes of this Agreement commencing on the Business Day
following receipt by Agent of such notice, and shall cease to be a Non-Funding Lender on the date on which such Lender has either revoked
the effectiveness of such notice or acknowledged in writing to each of Agent the satisfaction of the condition(s) specified in such
notice, or Required Lenders waive the conditions to the funding of such Loans giving rise to such notice by Non-Funding Lender. Each
Non-Funding Lender shall remain a Lender for purposes of this Agreement to the extent that such Non-Funding Lender has Revolving Loan
Outstandings in excess of $0; provided, however, that during any period of time that any Non-Funding Lender exists, and notwithstanding
any provision to the contrary set forth herein, the following provisions shall apply:

 

(a)           For
purposes of determining the Pro Rata Share of each Revolving Lender under clause (c) of the definition of such term, each Non-Funding
Lender shall be deemed to have a Revolving Loan Commitment Amount as in effect immediately before such Lender became a Non-Funding Lender.

 

(b)           Except
as provided in clause (a) above, the Revolving Loan Commitment Amount of each Non-Funding Lender shall be deemed to be Zero
Dollars ($0).

 

(c)           The
Revolving Loan Commitment at any date of determination during such period shall be deemed to be equal to the sum of (i) the aggregate
Revolving Loan Commitment Amounts of all Lenders, other than the Non-Funding Lenders as of such date plus (ii) the aggregate Revolving
Loan Outstandings of all Non-Funding Lenders as of such date.

 

(d)           [Reserved].

 

(e)           Agent
shall have no right to make or disburse Revolving Loans for the account of any Non-Funding Lender pursuant to Section 2.1(b)(i) to
pay interest, fees, expenses and other charges of any Credit Party other than reimbursement obligations that have arisen pursuant to
Section 2.5(c) in respect of Letters of Credit issued at the time such Non-Funding Lender was not then a Non-Funding Lender.

 

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(f)            Agent
shall have no right to (i) make or disburse Revolving Loans as provided in Section 2.1(b)(i) for the account of any
Revolving Lender that was a Non-Funding Lender at the time of issuance of any Letter of Credit for which funding or reimbursement
obligations have arisen pursuant to Section 2.5(c), or (ii) assume that any Revolving Lender that was a Non-Funding Lender
at the time of issuance of such Letter of Credit will fund any portion of the Revolving Loans to be funded pursuant to
Section 2.5(c) in respect of such Letter of Credit. In addition, no Revolving Lender that was a Non-Funding Lender at the
time of issuance of any Letter of Credit for which funding or reimbursement obligations have arisen pursuant to Section 2.5(c),
shall have an obligation to fund any portion of the Revolving Loans to be funded pursuant to Section 2.5(c) in respect to
such Letter of Credit, or to make any payment to Agent or the LC Issuer, as applicable, under Section 2.5(f)(ii) in
respect of such Letter of Credit, or be deemed to have purchased any interest or participation in such Letter of Credit from Agent
or the LC Issuer, as applicable, under Section 2.5(f)(i).

 

(g)           To
the extent that Agent applies proceeds of Collateral or other payments received by Agent to repayment of Revolving Loans pursuant to
Section 10.7, such payments and proceeds shall be applied first in respect of Revolving Loans made at the time any Non-Funding Lenders
exist, and second in respect of all other outstanding Revolving Loans.

 

Section 11.19         Buy-Out
Upon Refinancing. MCF shall have the right to purchase from the other Lenders all of their respective interests in the Loan at par
in connection with any refinancing of the Loan upon one or more new economic terms, but which refinancing is structured as an amendment
and restatement of the Loan rather than a payoff of the Loan.

 

ARTICLE 12 - - GUARANTY

 

Section 12.1           Guaranty.
Each Guarantor hereby unconditionally guarantees, as a primary obligor and not merely as a surety, jointly and severally with each
other Guarantor when and as due, whether at maturity, by acceleration, by notice of prepayment or otherwise, the due and punctual performance
of all of the Obligations, including payment in full of the principal, accrued but unpaid interest and all other amounts due and owing
to the Agent and Lenders under the Loans. Each payment made by any Guarantor pursuant to this Article 12 shall be made in lawful
money of the United States in immediately available funds.

 

Section 12.2           Payment
of Amounts Owed. The Guarantee hereunder is an absolute, unconditional and continuing guarantee of the full and punctual payment
and performance of all of the Obligations and not of their collectability only and is in no way conditioned upon any requirement that
the Agent or any Lender first attempt to collect any of the Obligations from any Borrower or resort to any collateral security or other
means of obtaining payment. In the event of any default by Borrowers in the payment of the Obligations, after the expiration of any applicable
cure or grace period, each Guarantor agrees, on demand by Agent (which demand may be made concurrently with notice to Borrowers that
the Borrowers are in default of their obligations), to pay the Obligations, regardless of any defense (other than the defense of payment
in full of the Obligations), right of set-off or recoupment or claims which any Borrower or Guarantor may have against Agent or Lenders
or the holder of the Notes. All of the remedies set forth in this Agreement, in any other Financing Document or at law or equity shall
be equally available to Agent and Lenders, and the choice by Agent or Lenders of one such alternative over another shall not be subject
to question or challenge by any Guarantor or any other person, nor shall any such choice be asserted as a defense, setoff, recoupment
or failure to mitigate damages in any action, proceeding, or counteraction by Agent or Lenders to recover or seeking any other remedy
under this Guarantee, nor shall such choice preclude Agent or Lenders from subsequently electing to exercise a different remedy.

 

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Section 12.3           Certain
Waivers by Guarantor. To the fullest extent permitted by law, each Guarantor does hereby:

 

(a)           waive
notice of acceptance of this Agreement by Agent and Lenders and any and, except as otherwise expressly required herein, all notices and
demands of every kind which may be required to be given by any statute, rule or law;

 

(b)           agree
to refrain from asserting, until after repayment in full of the Obligations, any defense, right of set-off, right of recoupment or other
claim which such Guarantor may have against any Borrower arising in connection with Guarantor’s satisfaction of the Obligations
pursuant to the Guarantee hereunder;

 

(c)           waive
any defense (other than the defense of payment in full of the Obligations), right of set-off, right of recoupment or other claim which
such Guarantor may have against Agent, Lenders or the holder of the Notes;

 

(d)           waive
any and all rights such Guarantor may have under any anti-deficiency statute or other similar protections;

 

(e)           waive
all rights at law or in equity to seek subrogation, contribution, indemnification or any other form of reimbursement or repayment from
any Borrower, any other Guarantor or any other person or entity now or hereafter primarily or secondarily liable for any of the Obligations
until the Obligations have been paid in full;

 

(f)            waive
presentment for payment, demand for payment, notice of nonpayment or dishonor, protest and notice of protest, diligence in collection
and any and all formalities which otherwise might be legally required to charge such Guarantor with liability except for such notices
as are expressly provided for in the Financing Documents;

 

(g)           waive
the benefit of all appraisement, valuation, marshalling, forbearance, stay, extension, redemption, homestead, exemption and moratorium
laws now or hereafter in effect;

 

(h)           waive
any defense based on the incapacity, lack of authority, death or disability of any other person or entity or the failure of Agent or
Lenders to file or enforce a claim against the estate of any other person or entity in any administrative, bankruptcy or other proceeding;

 

(i)            waive
any defense based on an election of remedies by Agent or Lenders, whether or not such election may affect in any way the recourse, subrogation
or other rights of such Guarantor against any Borrower, any other Guarantor or any other person in connection with the Obligations;

 

(j)            except
as otherwise expressly provided for in any Financing Document, waive any defense based on the failure of the Agent or Lenders to (i) provide
notice to such Guarantor of a sale or other disposition of any of the security for any of the Obligations, or (ii) conduct such
a sale or disposition in a commercially reasonable manner;

 

(k)           waive
any defense based on the negligence of Agent or Lenders in administering this Agreement or the other Financing Documents (including,
but not limited to, the failure to perfect any security interest in any Collateral), or taking or failing to take any action in connection
therewith, provided, however, that such waiver shall not apply to the gross negligence, bad faith or willful misconduct of the
Agent or Lenders, as determined by the final, non-appealable decision of a court having proper jurisdiction;

 

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(l)            waive
the defense of expiration of any statute of limitations affecting the liability of such Guarantor hereunder or the enforcement hereof;

  

(m)          waive
any right to file any Claim (as defined below) as part of, and any right to request consolidation of any action or proceeding relating
to a Claim with, any action or proceeding filed or maintained by Agent or Lenders to collect any Obligations of such Guarantor to Agent
or Lenders hereunder or to exercise any rights or remedies available to Agent or Lenders under the Financing Documents, at law, in equity
or otherwise;

 

(n)           agree
that neither Agent nor Lenders shall have any obligation to obtain, perfect or retain a security interest in any property to secure any
of the Obligations (including any mortgage or security interest contemplated by the Financing Documents), or to protect or insure any
such property;

 

(o)           waive
any obligation Agent or Lenders may have to disclose to such Guarantor any facts the Agent or Lenders now or hereafter may know or have
reasonably available to it regarding the Borrowers or Borrowers’ financial condition, whether or not the Agent or Lenders have
a reasonable opportunity to communicate such facts or have reason to believe that any such facts are unknown to such Guarantor or materially
increase the risk to such Guarantor beyond the risk such Guarantor intends to assume hereunder;

 

(p)           agree
that neither Agent nor Lenders shall be liable in any way for any decrease in the value or marketability of any property securing any
of the Obligations which may result from any action or omission of the Agent or Lenders in enforcing any part of this Agreement, provided,
however, that such waiver shall not apply to the gross negligence, bad faith or willful misconduct of the Agent or Lenders, as determined
by the final, non-appealable decision of a court having proper jurisdiction;

 

(q)           waive
any defense based on any invalidity, irregularity or unenforceability, in whole or in part, of any one or more of the Financing Documents;

 

(r)            waive
any defense based on any change in the composition of Borrowers, and

 

(s)           waive
any defense based on any representations and warranties made by such Guarantor herein or by any Borrower herein or in any of the Financing
Documents.

 

For purposes of this section, the term “Claim”
shall mean any claim, action or cause of action, defense, counterclaim, set-off or right of recoupment of any kind or nature against
the Agent or Lenders, its officers, directors, employees, agents, members, actuaries, accountants, trustees or attorneys, or any affiliate
of the Agent or Lenders in connection with the making, closing, administration, collection or enforcement by the Agent or Lenders of
the Obligations.

 

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Section 12.4           Guarantor’s
Obligations Not Affected by Modifications of Financing Documents. Each Guarantor further agrees that such Guarantor’s liability
as guarantor shall not be impaired or affected by any renewals or extensions which may be made from time to time, with or without the
knowledge or consent of Guarantor, except as otherwise expressly provided for hereunder, for the time for payment of interest or principal
or by any forbearance or delay in collecting interest or principal hereunder, or by any waiver by Agent or Lenders under this Agreement
or any other Financing Documents, or by Agent’s or Lenders’ failure or election not to pursue any other remedies it may have
against any Borrower or Guarantor, or by any change or modification in the Notes, this Agreement or any other Financing Document, or
by the acceptance by Agent or Lenders of any additional security or any increase, substitution or change therein, or by the release by
Agent or Lenders of any security or any withdrawal thereof or decrease therein, or by the application of payments received from any source
to the payment of any obligation other than the Obligations even though Agent or Lenders might lawfully have elected to apply such payments
to any part or all of the Obligations, it being the intent hereof that, subject to Agent’s or Lenders’ compliance with the
terms of this Section 12 and the Financing Documents, each Guarantor shall remain liable for the payment of the Obligations, until
the Obligations have been paid in full, notwithstanding any act or thing which might otherwise operate as a legal or equitable discharge
of a surety. Each Guarantor further understands and agrees that Agent or Lenders may at any time enter into agreements with Borrowers
to amend, modify and/or increase the principal amount of, interest rate applicable to or other economic and non-economic terms of this
Agreement or the other Financing Documents, and may waive or release any provision or provisions of this Agreement or the other Financing
Documents, and, with reference to such instruments, may make and enter into any such agreement or agreements as Agent, Lenders and Borrowers
may deem proper and desirable, without in any manner impairing this Guarantee or any of Agent’s or Lenders’ rights hereunder
or each Guarantor’s obligations hereunder, and each Guarantor’s obligations hereunder shall apply to the this Agreement and
other Financing Documents as so amended, modified, extended, renewed or increased. 

 

Section 12.5           Reinstatement;
Deficiency. This guaranty shall continue to be effective or be reinstated (as the case may be) if at any time payment of all or
any part of any sum payable pursuant to this Agreement or any other Financing Document is rescinded or otherwise required to be
returned by Agent or Lenders upon the insolvency, bankruptcy, dissolution, liquidation, or reorganization of any Borrower, or upon
or as a result of the appointment of a receiver, intervenor, custodian or conservator of or trustee or similar officer for, any
Borrower or any substantial part of its property, or otherwise, all as though such payment to Agent or Lenders had not been made,
regardless of whether Agent or Lenders contested the order requiring the return of such payment. In the event of the foreclosure of
the Financing Documents and of a deficiency, each Guarantor hereby promises and agrees forthwith to pay the amount of such
deficiency notwithstanding the fact that recovery of said deficiency against Borrowers would not be allowed by applicable law;
however, the foregoing shall not be deemed to require that Agent or Lenders institute foreclosure proceedings or otherwise resort to
or exhaust any other collateral or security prior to or concurrently with enforcing this guaranty.

 

Section 12.6           Subordination
of Borrowers’ Obligations to Guarantors; Claims in Bankruptcy.(a)

 

(a)           Any
indebtedness of any Borrower to any Guarantor (including, but not limited to, any right of such Guarantor to a return of any capital
contributed to a Borrower), whether now or hereafter existing, is hereby subordinated to the payment of the Obligations. Each Guarantor
agrees that, until the Obligations have been paid in full, such Guarantor will not seek, accept, or retain for its own account, any payment
from any Borrower on account of such subordinated debt. Any payments to any Guarantor on account of such subordinated debt shall be collected
and received by such Guarantor in trust for Agent and Lenders and shall be immediately paid over to Agent, for the benefit of Agent and
Lenders, on account of the Obligations without impairing or releasing the obligations of such Guarantor hereunder.

 

(b)           Each
Guarantor shall promptly file in any bankruptcy or other proceeding in which the filing of claims is required by law, all claims and
proofs of claims that such Guarantor may have against any Borrower or any other Guarantor and does hereby assign to Agent or its nominee
(and will, upon request of Agent, reconfirm in writing the assignment to Agent or its nominee of) all rights of such Guarantor under
such claims. If such Guarantor does not file any such claim, Agent, as attorney-in-fact for such Guarantor, is hereby irrevocably
authorized to do so in the name of such Guarantor, or in Agent’s discretion, to assign the claim to a designee and cause proof
of claim to be filed in the name of Agent’s designee. In all such cases, whether in administration, bankruptcy or otherwise, the
person or persons authorized to pay such claim shall pay to Agent, for the benefit of Agent and Lenders, the full amount thereof and,
to the full extent necessary for that purpose, each Guarantor hereby assigns to the Lenders all of such Guarantor’s rights to any
such payments or distributions to which such Guarantor would otherwise be entitled, such assignment being a present and irrevocable assignment
of all such rights.

 

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Section 12.7           Maximum
Liability. The provisions of this Section 12 are severable, and in any action or proceeding involving any state corporate law,
or any state, federal or foreign bankruptcy, insolvency, reorganization or other law affecting the rights of creditors generally, if
the obligations of any Guarantor under this Article 12 would otherwise be held or determined to be avoidable, invalid or unenforceable
on account of the amount of such Guarantor’s liability under this Article 12, then, notwithstanding any other provision of
this Article 12 to the contrary, the amount of such liability shall, without any further action by the Guarantors or the Agent or
any Lender, be automatically limited and reduced to the highest amount that is valid and enforceable as determined in such action or
proceeding (such highest amount determined hereunder being the relevant Guarantor’s “Maximum Liability”). This
Section 12.7 with respect to the Maximum Liability of each Guarantor is intended solely to preserve the rights of the Agent and
the Lenders to the maximum extent not subject to avoidance under applicable law, and no Guarantor nor any other Person shall have any
right or claim under this Section 12.7 with respect to such Maximum Liability, except to the extent necessary so that the obligations
of any Guarantor hereunder shall not be rendered voidable under applicable law. Each Guarantor agrees that the Obligations may at any
time and from time to time exceed the Maximum Liability of each Guarantor without impairing this guaranty or affecting the rights and
remedies of the Agent or the Lenders hereunder, provided that, nothing in this sentence shall be construed to increase any Guarantor’s
obligations hereunder beyond its Maximum Liability.

 

Section 12.8           Guarantor’s
Investigation. Each Guarantor acknowledges receipt of a copy of each of this Agreement and the other Financing Documents. Each Guarantor
has made an independent investigation of the other Credit Parties and of the financial condition of the other Credit Parties. Neither
Agent nor any Lender has made and neither Agent nor any Lender does make any representations or warranties as to the income, expense,
operation, finances or any other matter or thing affecting any Credit Party nor has Agent or any Lender made any representations or warranties
as to the amount or nature of the Obligations of any Credit Party to which this Article 12 applies as specifically herein set forth,
nor has Agent or any Lender or any officer, agent or employee of Agent or any Lender or any representative thereof, made any other oral
representations, agreements or commitments of any kind or nature, and each Guarantor hereby expressly acknowledges that no such representations
or warranties have been made and such Guarantor expressly disclaims reliance on any such representations or warranties.

 

Section 12.9          Termination.
The provisions of this Article 12 shall remain in effect until this Agreement has terminated pursuant to its terms and all Obligations
(other than inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement)
have been paid and satisfied in full.

 

Section 12.10         Representative.
Each Guarantor hereby designates Borrower Representative and its representatives and agents on its behalf for the purpose of giving and
receiving all notices and other consents hereunder or under any other Financing Document and taking all other actions on behalf of such
Guarantor under the Financing Documents. Borrower Representative hereby accepts such appointment

 

ARTICLE 13 - - MISCELLANEOUS

 

Section 13.1           Survival.
All agreements, representations and warranties made herein and in every other Financing Document shall survive the execution and delivery
of this Agreement and the other Financing Documents and the other Operative Documents. The provisions of Section 2.10 and Articles
11 and 12 shall survive the payment of the Obligations (both with respect to any Lender and all Lenders collectively) and any termination
of this Agreement and any judgment with respect to any Obligations, including any final foreclosure judgment with respect to any Security
Document, and no unpaid or unperformed, current or future, Obligations will merge into any such judgment.

 

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Section 13.2           No
Waivers. No failure or delay by Agent or any Lender in exercising any right, power or privilege under any Financing Document shall
operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise
of any other right, power or privilege. The rights and remedies herein and therein provided shall be cumulative and not exclusive of
any rights or remedies provided by law. Any reference in any Financing Document to the “continuing” nature of any Event of
Default shall not be construed as establishing or otherwise indicating that any Borrower or any other Credit Party has the independent
right to cure any such Event of Default, but is rather presented merely for convenience should such Event of Default be waived in accordance
with the terms of the applicable Financing Documents.

 

Section 13.3           Notices.

 

(a)            All
notices, requests and other communications to any party hereunder shall be in writing (including prepaid overnight courier, facsimile
transmission or similar writing) and shall be given to such party at its address, facsimile number or e-mail address set forth on the
signature pages hereof (or, in the case of any such Lender who becomes a Lender after the date hereof, in an assignment agreement
or in a notice delivered to Borrower Representative and Agent by the assignee Lender forthwith upon such assignment) or at such other
address, facsimile number or e-mail address as such party may hereafter specify for the purpose by notice to Agent and Borrower Representative;
provided, however, that notices, requests or other communications shall be permitted by electronic means only in accordance
with the provisions of Section 13.3(b) and (c). Each such notice, request or other communication shall be effective (i) if
given by facsimile, when such notice is transmitted to the facsimile number specified by this Section and the sender receives a
confirmation of transmission from the sending facsimile machine, or (ii) if given by mail, prepaid overnight courier or any other
means, when received or when receipt is refused at the applicable address specified by this Section 13.3(a).

 

(b)            Notices
and other communications to the parties hereto may be delivered or furnished by electronic communication (including e-mail and Internet
or intranet websites) pursuant to procedures approved from time to time by Agent, provided, however, that the foregoing
shall not apply to notices sent directly to any Lender if such Lender has notified the Agent that it is incapable of receiving notices
by electronic communication. Agent or Borrower Representative may, in their discretion, agree to accept notices and other communications
to them hereunder by electronic communications pursuant to procedures approved by it, provided, however, that approval
of such procedures may be limited to particular notices or communications.

 

(c)            Unless
Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the
sender’s receipt of an acknowledgment from the intended recipient (such as by the “return receipt requested”
function, as available, return e-mail or other written acknowledgment), 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, however, that if any such notice or other communication is not sent or posted
during normal business hours, such notice or communication shall be deemed to have been sent at the opening of business on the next
Business Day.

 

Section 13.4           Severability.
In case any provision of or obligation under this Agreement or any other Financing Document shall be invalid, illegal or unenforceable
in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation
in any other jurisdiction, shall not in any way be affected or impaired thereby.

 

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Section 13.5           Headings.
Headings and captions used in the Financing Documents (including the Exhibits, Schedules and Annexes hereto and thereto) are included
for convenience of reference only and shall not be given any substantive effect.

 

Section 13.6           Confidentiality.

 

(a)           Each
Credit Party agrees (i) not to transmit or disclose provisions of any Financing Document to any Person (other than to Borrowers’
advisors and officers on a need-to-know basis or as otherwise may be required by Law) without Agent’s prior written consent, (ii) to
inform all Persons of the confidential nature of the Financing Documents and to direct them not to disclose the same to any other Person
and to require each of them to be bound by these provisions.

 

(b)           Agent
and each Lender shall hold all non-public information regarding the Credit Parties and their respective businesses identified as such
by Borrowers and obtained by Agent or any Lender pursuant to the requirements hereof in accordance with such Person’s customary
procedures for handling information of such nature, except that disclosure of such information may be made (i) to their respective
agents, employees, Subsidiaries, Affiliates, attorneys, auditors, professional consultants, rating agencies, insurance industry associations
and portfolio management services, (ii) to prospective transferees or purchasers of any interest in the Loans, Agent or a Lender,
provided, however, that any such Persons are bound by obligations of confidentiality, (iii) as required by Law, subpoena,
judicial order or similar order and in connection with any litigation, (iv) as may be required in connection with the examination,
audit or similar investigation of such Person, and (v) to a Person that is a trustee, investment advisor or investment manager,
collateral manager, servicer, noteholder or secured party in a Securitization (as hereinafter defined) in connection with the administration,
servicing and reporting on the assets serving as collateral for such Securitization. For the purposes of this Section, “Securitization”
means (A) the pledge of the Loans as collateral security for loans to a Lender, or (B) a public or private offering by a Lender
or any of its Affiliates or their respective successors and assigns, of securities which represent an interest in, or which are collateralized,
in whole or in part, by the Loans. Confidential information shall include only such information identified as such at the time provided
to Agent and shall not include information that either: (y) is in the public domain, or becomes part of the public domain after
disclosure to such Person through no fault of such Person, or (z) is disclosed to such Person by a Person other than a Credit Party,
provided, however, Agent does not have actual knowledge that such Person is prohibited from disclosing such information.
The obligations of Agent and Lenders under this Section 13.6 shall supersede and replace the obligations of Agent and Lenders under
any confidentiality agreement in respect of this financing executed and delivered by Agent or any Lender prior to the date hereof.

 

Section 13.7           Waiver
of Consequential and Other Damages. To the fullest extent permitted by applicable law, no Credit Party shall assert, and each
Credit Party hereby waives, any claim against any Indemnitee (as defined below), on any theory of liability, for special, indirect,
consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of
this Agreement, any other Financing Document or any agreement or instrument contemplated hereby or thereby, the transactions
contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof. No Indemnitee shall be liable for
any damages arising from the use by unintended recipients of any information or other materials distributed by it through
telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Financing
Documents or the transactions contemplated hereby or thereby.

 

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Section 13.8           GOVERNING
LAW; SUBMISSION TO JURISDICTION.

 

(a)           THIS
AGREEMENT, EACH NOTE AND EACH OTHER FINANCING DOCUMENT, AND ALL DISPUTES AND OTHER MATTERS RELATING HERETO OR THERETO OR ARISING THEREFROM
(WHETHER SOUNDING IN CONTRACT LAW, TORT LAW OR OTHERWISE), SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES (OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS
LAW).

 

(b)           EACH
PARTY HERETO HEREBY CONSENTS TO THE JURISDICTION OF ANY STATE OR FEDERAL COURT LOCATED WITHIN THE STATE OF NEW YORK IN THE CITY OF NEW
YORK, BOROUGH OF MANHATTAN AND IRREVOCABLY AGREES THAT, SUBJECT TO AGENT’S ELECTION, ALL ACTIONS OR PROCEEDINGS ARISING OUT OF
OR RELATING TO THIS AGREEMENT OR THE OTHER FINANCING DOCUMENTS SHALL BE LITIGATED IN SUCH COURTS. EACH PARTY HERETO EXPRESSLY SUBMITS
AND CONSENTS TO THE JURISDICTION OF THE AFORESAID COURTS AND WAIVES ANY DEFENSE OF FORUM NON CONVENIENS. EACH PARTY HERETO HEREBY WAIVES
PERSONAL SERVICE OF ANY AND ALL PROCESS AND AGREES THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE UPON SUCH PARTY BY CERTIFIED OR
REGISTERED MAIL, RETURN RECEIPT REQUESTED, ADDRESSED TO SUCH PARTY AT THE ADDRESS SET FORTH IN THIS AGREEMENT AND SERVICE SO MADE SHALL
BE COMPLETE TEN (10) DAYS AFTER THE SAME HAS BEEN POSTED.

 

Section 13.9           WAIVER
OF JURY TRIAL.

 

EACH CREDIT PARTY, AGENT AND THE LENDERS HEREBY
IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THE FINANCING DOCUMENTS
OR THE TRANSACTIONS CONTEMPLATED THEREBY AND AGREES THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A
JURY. EACH CREDIT PARTY, AGENT AND EACH LENDER ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP,
THAT EACH HAS RELIED ON THE WAIVER IN ENTERING INTO THIS AGREEMENT AND THE OTHER FINANCING DOCUMENTS, AND THAT EACH WILL CONTINUE TO
RELY ON THIS WAIVER IN THEIR RELATED FUTURE DEALINGS. EACH CREDIT PARTY, AGENT AND EACH LENDER WARRANTS AND REPRESENTS THAT IT HAS HAD
THE OPPORTUNITY OF REVIEWING THIS JURY WAIVER WITH LEGAL COUNSEL, AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS.

 

Section 13.10         Publication;
Advertisement.

 

(a)            Publication.
No Credit Party will directly or indirectly publish, disclose or otherwise use in any public disclosure, advertising material, promotional
material, press release or interview, any reference to the name, logo or any trademark of MCF or any of its Affiliates or any reference
to this Agreement or the financing evidenced hereby, in any case except (i) as required by Law, subpoena or judicial or similar
order, in which case the applicable Credit Party shall give Agent prior written notice of such publication or other disclosure, or (ii) with
MCF’s prior written consent.

 

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(b)            Advertisement.
Each Lender and each Credit Party hereby authorizes MCF to publish the name of such Lender and Credit Party, the existence of the financing
arrangements referenced under this Agreement, the primary purpose and/or structure of those arrangements, the amount of credit extended
under each facility, the title and role of each party to this Agreement, and the total amount of the financing evidenced hereby in any
 “tombstone”, comparable advertisement or press release which MCF elects to submit for publication. In addition, each Lender
and each Credit Party agrees that MCF may provide lending industry trade organizations with information necessary and customary for inclusion
in league table measurements after the Closing Date. With respect to any of the foregoing, MCF shall provide Borrowers with an opportunity
to review and confer with MCF regarding the contents of any such tombstone, advertisement or information, as applicable, prior to its
submission for publication and, following such review period, MCF may, from time to time, publish such information in any media form
desired by MCF, until such time that Borrowers shall have requested MCF cease any such further publication. 

 

Section 13.11         Counterparts;
Integration. This Agreement and the other Financing Documents may be signed in any number of counterparts, each of which shall be
an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. Signatures by facsimile or by
electronic mail delivery of an electronic version of any executed signature page shall bind the parties hereto. This Agreement and
the other Financing Documents constitute the entire agreement and understanding among the parties hereto and supersede any and all prior
agreements and understandings, oral or written, relating to the subject matter hereof. In furtherance of the foregoing, the words “execution”,
 “signed”, “signature”, “delivery” and words of like import in or relating to any document to be signed
in connection with this Agreement and the transactions contemplated hereby or thereby shall be deemed to include Electronic Signatures,
deliveries 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. As used herein, “Electronic Signature” means an electronic sound, symbol, or process attached to, or associated
with, a contract or other record and adopted by a Person with the intent to sign, authenticate or accept such contract or other record.

 

Section 13.12         No
Strict Construction. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. In the event
an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto
and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of
this Agreement.

 

Section 13.13         Lender
Approvals. Unless expressly provided herein to the contrary, any approval, consent, waiver or satisfaction of Agent or Lenders with
respect to any matter that is the subject of this Agreement, the other Financing Documents may be granted or withheld by Agent and Lenders
in their sole and absolute discretion and credit judgment.

 

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Section 13.14         Expenses;
Indemnity.

 

(a)            Except
with respect to Taxes, which shall be governed exclusively by Section 2.8, Credit Parties hereby agree to promptly pay
(i) all reasonable documented out-of-pocket costs and expenses of Agent (including, without limitation, the fees, costs and
expenses of counsel to, and independent appraisers and consultants retained by Agent) in connection with the examination, review,
due diligence investigation, documentation, negotiation, closing and syndication of the transactions contemplated by the Financing
Documents, in connection with the performance by Agent of its rights and remedies under the Financing Documents and in connection
with the continued administration of the Financing Documents including (A) any amendments, modifications, consents and waivers
to and/or under any and all Financing Documents, and (B) any periodic public record searches conducted by or at the request of
Agent (including, without limitation, title investigations, UCC searches, fixture filing searches, judgment, pending litigation and
tax lien searches and searches of applicable corporate, limited liability, partnership and related records concerning the continued
existence, organization and good standing of certain Persons); (ii) without limitation of the preceding clause (i), all
reasonable documented out-of-pocket costs and expenses of Agent in connection with the creation, perfection and maintenance of Liens
pursuant to the Financing Documents; (iii) without limitation of the preceding clause (i), all documented out-of-pocket
costs and expenses of Agent in connection with (A) protecting, storing, insuring, handling, maintaining or selling any
Collateral, (B) any litigation, dispute, suit or proceeding relating to any Financing Document, and (C) any workout,
collection, bankruptcy, insolvency and other enforcement proceedings under any and all of the Financing Documents; (iv) without
limitation of the preceding clause (i), all reasonable documented out-of-pocket costs and expenses of Agent in connection with
Agent’s reservation of funds in anticipation of the funding of the initial Loans to be made hereunder; and (v) all
documented out-of-pocket costs and expenses incurred by Lenders in connection with any litigation, dispute, suit or proceeding
relating to any Financing Document and in connection with any workout, collection, bankruptcy, insolvency and other enforcement
proceedings under any and all Financing Documents, whether or not Agent or Lenders are a party thereto; provided, that
payment of fees and expenses of external legal counsel shall be limited to (x) one primary external counsel for Agent, outside
local and/or special counsel for Agent in each relevant jurisdiction, as applicable, (y) one external counsel for Lenders and
(z) solely in the case of a conflict of interest, where the Indemnitee(s) affected by such conflict notifies the Borrower
Representative of the existence of such conflict and thereafter retains its own counsel, by another firm of counsel for such
affected Indemnitee or group of similarly affected Indemnitees and, if necessary, another firm of local counsel in each relevant
jurisdiction.

 

(b)            Each
Credit Party hereby agrees to indemnify, pay and hold harmless Agent and Lenders and the officers, directors, employees, trustees, agents,
investment advisors and investment managers, collateral managers, servicers, and counsel of Agent and Lenders (individually, each an
 “Indemnitee” and collectively called the “Indemnitees”) from and against any and all liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, claims, costs, expenses and disbursements of any kind or nature whatsoever (including
the documented out-of-pocket fees and disbursements of counsel for such Indemnitee) in connection with any investigative, response, remedial,
administrative or judicial matter or proceeding, whether or not such Indemnitee shall be designated a party thereto and including any
such proceeding initiated by or on behalf of a Credit Party, and the reasonable expenses of investigation by engineers, environmental
consultants and similar technical personnel and any commission, fee or compensation claimed by any broker (other than any broker retained
by Agent or Lenders) asserting any right to payment for the transactions contemplated hereby, which may be imposed on, incurred by or
asserted against such Indemnitee as a result of or in connection with the transactions contemplated hereby or by the other Operative
Documents (including (i)(A) as a direct or indirect result of the presence on or under, or escape, seepage, leakage, spillage, discharge,
emission or release from, any property now or previously owned, leased or operated by a Credit Party, any Subsidiary or any other Person
of any Hazardous Materials, (B) arising out of or relating to the offsite disposal of any Hazardous Materials originating from any
such property, or (C) arising out of or resulting from the Hazardous Materials Contamination of any such property or the applicability
of any governmental requirements relating to Hazardous Materials, whether or not occasioned wholly or in part by any condition, accident
or event caused by any act or omission of a Credit Party or any Subsidiary, and (ii) proposed and actual extensions of credit under
this Agreement) and the use or intended use of the proceeds of the Loans and Letters of Credit, except that Credit Parties shall have
no obligation hereunder to an Indemnitee with respect to any liability resulting from the gross negligence or willful misconduct of such
Indemnitee, as determined by a final non-appealable judgment of a court of competent jurisdiction. To the extent that the undertaking
set forth in the immediately preceding sentence may be unenforceable, each Credit Party shall contribute the maximum portion which it
is permitted to pay and satisfy under applicable Law to the payment and satisfaction of all such indemnified liabilities incurred by
the Indemnitees or any of them.

 

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(c)           Notwithstanding
any contrary provision in this Agreement, the obligations of Credit Parties under this Section 13.14 shall survive the payment in
full of the Obligations and the termination of this Agreement. NO INDEMNITEE SHALL BE RESPONSIBLE OR LIABLE TO THE CREDIT PARTIES OR
TO ANY OTHER PARTY TO ANY FINANCING DOCUMENT, ANY SUCCESSOR, ASSIGNEE OR THIRD PARTY BENEFICIARY OR ANY OTHER PERSON ASSERTING CLAIMS
DERIVATIVELY THROUGH SUCH PARTY, FOR INDIRECT, PUNITIVE, EXEMPLARY OR CONSEQUENTIAL DAMAGES WHICH MAY BE ALLEGED AS A RESULT OF
CREDIT HAVING BEEN EXTENDED, SUSPENDED OR TERMINATED UNDER THIS AGREEMENT OR ANY OTHER FINANCING DOCUMENT OR AS A RESULT OF ANY OTHER
TRANSACTION CONTEMPLATED HEREUNDER OR THEREUNDER.

 

Section 13.15         [Reserved].

 

Section 13.16         Reinstatement.
This Agreement shall remain in full force and effect and continue to be effective should any petition or other proceeding be filed by
or against any Credit Party for liquidation or reorganization, should any Credit Party become insolvent or make an assignment for the
benefit of any creditor or creditors or should an interim receiver, receiver, receiver and manager or trustee be appointed for all or
any significant part of any Credit Party’s assets, and shall continue to be effective or to be reinstated, as the case may be,
if at any time payment and performance of the Obligations, or any part thereof, is, pursuant to applicable law, rescinded or reduced
in amount, or must otherwise be restored or returned by any obligee of the Obligations, whether as a fraudulent preference reviewable
transaction or otherwise, all as though such payment or performance had not been made. In the event that any payment, or any part thereof,
is rescinded, reduced, restored or returned, the Obligations shall be reinstated and deemed reduced only by such amount paid and not
so rescinded, reduced, restored or returned.

 

Section 13.17         Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of Borrowers and Agent and each Lender and their respective
successors and permitted assigns.

 

Section 13.18         USA
PATRIOT Act Notification. Agent (for itself and not on behalf of any Lender) and each Lender hereby notifies the Credit Parties that
pursuant to the requirements of the USA PATRIOT Act, it is required to obtain, verify and record certain information and documentation
that identifies Credit Parties, which information includes the name and address of each Credit Party and such other information that
will allow Agent or such Lender, as applicable, to identify Credit Parties in accordance with the USA PATRIOT Act.

 

Section 13.19         Acknowledgement
and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary in any Financing Document or in any
other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any EEA Financial
Institution arising under any Financing Document, to the extent such liability is unsecured, may be subject to the Write-Down and Conversion
Powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:

 

(a)           the
application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may
be payable to it by any party hereto that is an EEA Financial Institution; and

 

(b)           the
effects of any Bail-In Action on any such liability, including, if applicable:

 

(i)              a
reduction in full or in part or cancellation of any such liability;

 

(ii)             a
conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial Institution, its
parent undertaking, 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 Financing
Document; or

 

(iii)            the
variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of any EEA Resolution
Authority.

 

[SIGNATURES APPEAR ON FOLLOWING PAGE(S)]

 

    103 

     

    

 

 

IN
WITNESS WHEREOF, intending to be legally bound, each of the parties have caused this Agreement to be executed the day and year
first above mentioned.

 

	BORROWERS:	TRANSFIX, INC.
	 	 
	 	By:	/s/ Christian Lee
	 	Name:	Christian Lee
	 	Title:	Chief Financial Officer
	 	 	 
	 	Address:
	 	 
	 	498 7th Avenue, 19th Floor,
	 	New York City, NY, 10018
	 	 
	 	 

	 	Attn:	  Christian Lee
	 	E-Mail:	   christianlee@transfix.io
	 	 	

 

     

     

    

 

	AGENT:	MIDCAP FINANCIAL TRUST
	 	 	 	 
	 	By:	Apollo Capital Management, L.P.,
	 	 	its investment manager
	 	 	 	 
	 	By:	Apollo Capital Management GP, LLC,
	 	 	its general partner
	 	 	 	 
	 	 	By: 	/s/ Maurice Amsellem
	 	 	Name:	Maurice Amsellem
	 	 	Title:	Authorized Signatory
	 	 	 	 
	 	Address:
	 	 
	 	c/o MidCap Financial Services, LLC, as servicer
	 	7255 Woodmont Avenue, Suite 200
	 	Bethesda, Maryland 20814
	 	Attn: Account Manager for Transfix, Inc. transaction
	 	Facsimile: 301-941-1450
	 	 	 	 
	 	Copying, for notice purposes only:
	 	 
	 	c/o MidCap Financial Services, LLC, as servicer
	 	7255 Woodmont Avenue, Suite 200
	 	Bethesda, Maryland 20814
	 	Attn: General Counsel
	 	Facsimile: 301-941-1450
	 	 	 	 
	 	Payment Account Designation
	 	Wells Fargo Bank, N.A. (McLean, VA)
	 	ABA #: 121-000-248
	 	Account Name: MidCap Funding IV Trust – Collections
	 	Account #: 2000036282803
	 	Attention: Transfix, Inc.

 

     

     

    

 

	LENDER:	MIDCAP FINANCIAL TRUST
	 	 	 	 
	 	By:	Apollo Capital Management, L.P.,

 its investment manager
	 	 	 	 
	 	By:	Apollo Capital Management GP, LLC, 

its general partner
	 	 	 	 
	 	 	By:	/s/ Maurice Amsellem
	 	 	Name:	Maurice Amsellem
	 	 	Title:	Authorized Signatory
	 	 	 	 
	 	Address:	 
	 	 	 	 
	 	c/o MidCap Financial Services, LLC, as servicer
	 	7255 Woodmont Avenue, Suite 200
	 	Bethesda, Maryland 20814
	 	Attn: Account Manager for Transfix, Inc. transaction
	 	Facsimile: 301-941-1450

 

     

     

    

 

ANNEXES,
EXHIBITS AND SCHEDULES

 

ANNEXES

 

	Annex A	Commitment Annex

 

EXHIBITS

 

	Exhibit A	[Reserved]
	Exhibit B	Form of Compliance Certificate
	Exhibit C	Borrowing Base Certificate
	Exhibit D	Form of Notice of Borrowing
	Exhibit E	Form of Broker/Carrier Agreement
	Exhibit F-1	Form of U.S. Tax Compliance Certificate
	Exhibit F-2	Form of U.S. Tax Compliance Certificate
	Exhibit F-3	Form of U.S. Tax Compliance Certificate
	Exhibit F-4  	Form of U.S. Tax Compliance Certificate  

 

SCHEDULES

 

	Schedule 1.1 	Outstanding Letters of Credit
	Schedule 1.2	 Certain Account Debtors
	Schedule 2.1	Scheduled Principal Payments
	Schedule 3.1	Existence, Organizational ID Numbers, Foreign Qualification, Prior Names
	Schedule 3.4	Capitalization
	Schedule 3.6	Litigation
	Schedule 3.17	Material Contracts
	Schedule 3.18	Environmental Compliance
	Schedule 3.19	Intellectual Property
	Schedule 4.9	Litigation, Governmental Proceedings and Other Notice Events
	Schedule 5.1	Debt; Contingent Obligations
	Schedule 5.2	Liens
	Schedule 5.7	Permitted Investments
	Schedule 5.8	Affiliate Transactions
	Schedule 5.11	Business Description
	Schedule 5.14	Deposit Accounts and Securities Accounts
	Schedule 7.4	Post-Closing Obligations
	Schedule 9.1	Collateral
	Schedule 9.2(b)	Location of Collateral
	Schedule 9.2(d)	Chattel Paper, Letter of Credit Rights, Commercial Tort Claims, Instruments, Documents, Investment Property

 

     

     

    

 

Annex
A to Credit Agreement (Commitment Annex)

 

	Lender	 	Revolving Loan Commitment 
 Amount	 	 	Revolving Loan Commitment 
 Percentage	 
	MidCap Financial Trust	 	$	50,000,000	 	 	 	100	%
	 	 	 	 	 	 	 	 	 
	TOTALS	 	$	50,000,000	 	 	 	100	%Document

Exhibit 4.1

			
	

$1,000,000,000
AMENDED AND RESTATED FIVE YEAR
MASTER CREDIT AGREEMENT
Dated as of December 17, 2021 
among
ALLIANT ENERGY CORPORATION,
INTERSTATE POWER AND LIGHT COMPANY, and
WISCONSIN POWER AND LIGHT COMPANY
as Borrowers
THE BANKS NAMED HEREIN
as Banks
and
WELLS FARGO BANK, NATIONAL ASSOCIATION
as Administrative Agent, Swingline Lender and LC Issuing Bank
			
	

JPMORGAN CHASE BANK, N.A.
as Syndication Agent and LC Issuing Bank
BANK OF AMERICA, N.A.,
BARCLAYS BANK PLC, 
GOLDMAN SACHS BANK USA,
MIZUHO BANK, LTD. and
MUFG BANK, LTD.
as Co-Documentation Agents
WELLS FARGO SECURITIES, LLC
JPMORGAN CHASE BANK, N.A.
BOFA SECURITIES, INC.
BARCLAYS BANK PLC, 
GOLDMAN SACHS BANK USA,
MIZUHO BANK, LTD. and
MUFG BANK, LTD.
Joint Lead Arrangers and Joint Bookrunners
			
	

TABLE OF CONTENTS

									
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ARTICLE I
DEFINITIONS AND ACCOUNTING TERMS
									
	Section 1.1	Certain Defined Terms	
	Section 1.2	Computation of Time Periods	
	Section 1.3	Computations of Outstandings	
	Section 1.4	Accounting Terms	
	Section 1.5	Terms Generally	

ARTICLE II
AMOUNTS AND TERMS OF THE EXTENSIONS OF CREDIT
									
	Section 2.1	The Advances	
	Section 2.2	Making the Advances	
	Section 2.3	Funding Reliance	
	Section 2.4	Letters of Credit	
	Section 2.5	Fees	
	Section 2.6	Changes in the Commitments and Sublimits	
	Section 2.7	Repayment of Advances	
	Section 2.8	Interest on Advances	
	Section 2.9	Additional Interest on Eurodollar Rate Advances	
	Section 2.10	Interest Rate Determination	
	Section 2.11	Voluntary Conversion of Advances	
	Section 2.12	Optional Prepayments of Advances	
	Section 2.13	Increased Costs	
	Section 2.14	Illegality	
	Section 2.15	Payments and Computations	
	Section 2.16	Noteless Agreement; Evidence of Indebtedness	
	Section 2.17	Taxes	
	Section 2.18	Sharing of Payments, Etc	
	Section 2.19	Extension of Termination Date	
	Section 2.20	Mitigation Obligations	
	Section 2.21	Replacement of Lenders	
	Section 2.22	Defaulting Lenders	

ARTICLE III
CONDITIONS TO EXTENSIONS OF CREDIT
									
	Section 3.1	Conditions Precedent to Closing Date	
	Section 3.2	Conditions Precedent to Each Extension of Credit	
	Section 3.3	Conditions Precedent to Extensions of Credit On or After the Trigger Date	
	Section 3.4	Reliance on Certificates	

ARTICLE IV
REPRESENTATIONS AND WARRANTIES
									
	Section 4.1	Representations and Warranties of the Borrowers	

									
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TABLE OF CONTENTS
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ARTICLE V
COVENANTS OF THE BORROWER
									
	Section 5.1	Affirmative Covenants	
	Section 5.2	Negative Covenants	

ARTICLE VI
EVENTS OF DEFAULT
									
	Section 6.1	Events of Default	
	Section 6.2	Cash Collateral Account	

ARTICLE VII
THE AGENT
									
	Section 7.1	Authorization and Action	
	Section 7.2	Exculpatory Provisions	
	Section 7.3	Reliance by Agent	
	Section 7.4	Wells Fargo and Affiliates	
	Section 7.5	Lender Credit Decision	
	Section 7.6	Indemnification	
	Section 7.7	Successor Agent	
	Section 7.8	Delegation of Duties	
	Section 7.9	No Other Duties, Etc	
	Section 7.10	Agent May File Proofs of Claim	
	Section 7.11	LC Issuing Bank and Swingline Lender	

ARTICLE VIII
MISCELLANEOUS
									
	Section 8.1	Amendments, Etc	
	Section 8.2	Notices, Etc	
	Section 8.3	No Waiver; Remedies	
	Section 8.4	Costs, Expenses, Taxes and Indemnification	
	Section 8.5	Right of Set-off	
	Section 8.6	Binding Effect	
	Section 8.7	Assignments and Participations	
	Section 8.8	Confidentiality	
	Section 8.9	WAIVER OF JURY TRIAL	
	Section 8.10	Governing Law	
	Section 8.11	Jurisdiction; Service of Process	
	Section 8.12	Waiver of Venue	
	Section 8.13	Relation of the Parties; No Beneficiary	
	Section 8.14	Execution in Counterparts	
	Section 8.15	Severability	
	Section 8.16	Disclosure of Information	
	Section 8.17	USA Patriot Act Notice	
	Section 8.18	Entire Agreement	
	Section 8.19	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	
	Section 8.20	Several Liability; No Joint Liability	
	Section 8.21	No Fiduciary Duties	
	Section 8.22	Certain ERISA Matters	

									
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TABLE OF CONTENTS
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Note: Pagination of EDGAR filed document does not conform to executed agreement due to the Edgarization process.

EXHIBITS AND SCHEDULES

									
	Exhibit 1.1(a)	—	Form of Revolving Note
	Exhibit 1.1(b)	—	Form of Swingline Note
	Exhibit 1.1(c)	—	Form of Sublimit Adjustment Letter
	Exhibit 2.2(b)	—	Form of Notice of Borrowing
	Exhibit 2.2(c)	—	Form of Notice of Swingline Borrowing
	Exhibit 2.4	—	Form of Request for Issuance
	Exhibit 2.11	—	Form of Notice of Conversion
	Exhibit 2.17(e)(ii)	—	Form of U.S. Tax Compliance Certificates
	Exhibit 3.1(a)(viii)(A)	—	Form of Opinion of Perkins Coie, LLP
	Exhibit-3.1(a)(viii)(B)	—	Form of Opinion of Local Counsel
	Exhibit 8.7	—	Form of Lender Assignment
			
	Schedule I	—	Commitment and Notice Information Schedule
	Schedule II	—	Existing Synthetic Leases
	Schedule III	—	Existing Liens
	Schedule IV	—	List of Indentures

									
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AMENDED AND RESTATED FIVE YEAR MASTER CREDIT AGREEMENT
Dated as of December 17, 2021
THIS AMENDED AND RESTATED FIVE YEAR MASTER CREDIT AGREEMENT (this “Agreement”) is made by and among:
(i)    ALLIANT ENERGY CORPORATION, a Wisconsin corporation INTERSTATE POWER AND LIGHT COMPANY, an Iowa corporation WISCONSIN POWER AND LIGHT COMPANY, a Wisconsin corporation (collectively, the “Borrowers”),
(ii)    the banks (the “Banks”) listed on the signature pages hereof and the other Lenders (as hereinafter defined) from time to time party hereto, and
(iii)    WELLS FARGO BANK, NATIONAL ASSOCIATION (“Wells Fargo”), as administrative agent (the “Agent”) for the Lenders hereunder and as a LC Issuing Bank and Swingline Lender (as defined below).
PRELIMINARY STATEMENTS
(1)    The Borrowers have entered into a Master Five Year Credit Agreement, dated as of August 16, 2017 (as further amended, restated, supplemented or otherwise modified prior to the date hereof, the “Existing Credit Agreement”) with Wells Fargo, as administrative agent, JPMorgan Chase Bank, N.A., as syndication agent and the other lenders and agents party thereto.
(2)    The Borrowers have requested that the parties agree to refinance the Existing Credit Agreement with the credit facilities provided under this Agreement.
(3)    The Lenders have indicated their willingness to refinance the Existing Credit Agreement on the terms and subject to the conditions set forth herein.
NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the parties hereto hereby agree to amend and restate the Existing Credit Agreement as follows:
ARTICLE I
DEFINITIONS AND ACCOUNTING TERMS

Section 1.1Certain Defined Terms.  As used in this Agreement, the following terms shall have the following meanings (such meanings to be equally applicable to both the singular and plural forms of the terms defined):
“Additional Lender” has the meaning assigned to that term in Section 2.6(d).
“Administrative Questionnaire” means an Administrative Questionnaire in substantially the form approved by the Agent.
“Advance” means any or all of the Revolving Advances and the Swingline Advances.
“AEF” means Alliant Energy Finance, LLC, a Wisconsin limited liability company.
“Affected Financial Institution” means (a) any EEA Financial Institution or (b) any UK Financial Institution. 
“Affected Lender” has the meaning assigned to that term in Section 2.14.
“Affected Lender Advance” has the meaning assigned to that term in Section 2.14.
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“Affiliate” means, with respect to any Person, any other Person directly or indirectly controlling (including but not limited to all directors and officers of such Person), controlled by, or under direct or indirect common control with such Person.  A Person shall be deemed to control another entity if such Person possesses, directly or indirectly, the power to direct or cause the direction of the management and policies of such entity, whether through the ownership of voting securities, by contract, or otherwise.
“Agent” has the meaning assigned to that term in the Preamble to this Agreement.
“Agent Parties” has the meaning assigned to that term in Section 8.2(b).
“Aggregate Available Commitment” means the aggregate of the Lenders’ Available Commitment hereunder.
“Aggregate Commitment” means the total of all of the Lenders’ Commitments hereunder.
“Agreement” has the meaning specified in the Preamble to this Agreement.
“Alternate Base Rate” means a fluctuating interest rate per annum as shall be in effect from time to time, which rate per annum shall at all times be equal to the greatest of:
(i)    the Prime Rate in effect on such day;
(ii)    1/2 of 1.00% per annum above the Federal Funds Rate in effect on such day; and
(iii)    the Eurodollar Rate for an Interest Period of one month on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1.00%, provided that, for the avoidance of doubt, the Eurodollar Rate for any day shall be based on the rate published by ICE Benchmark Administration Limited, a United Kingdom company (or a comparable or successor quoting service approved by the Agent) for Dollar deposits at approximately 11:00 a.m. London time on such day; provided further, that this clause (iii) shall not be applicable during any period in which either (A) any of the circumstances provided in clause (y) of Section 2.10(b) shall have occurred and be continuing or (B) the Eurodollar Rate is unavailable or unascertainable.
Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Rate or the Eurodollar Rate shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds Rate or the Eurodollar Rate.  Notwithstanding the foregoing, if the Alternate Base Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement.
“Anti-Corruption Law” means all laws, rules, and regulations of any jurisdiction applicable to any Borrower or its Subsidiaries from time to time concerning or relating to anti-money laundering, bribery or corruption, including without limitation the United States Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder.
“Applicable Lending Office” means, with respect to each Lender, such Lender’s Domestic Lending Office in the case of a Base Rate Advance and such Lender’s Eurodollar Lending Office in the case of a Eurodollar Rate Advance.
“Applicable Margin” means, for any Eurodollar Rate Advance or Base Rate Advance, the percentage set forth below in the columns identified as Level I, Level II, Level III, Level IV, Level V, Level VI, or Level VII, opposite the Eurodollar Rate or the Base Rate, as applicable:
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	Rating	AA-/Aa3/AA- or above	A+/A1/A+	A/A2/A	A-/A3/A-	BBB+/Baa1/BBB+	BBB/Baa2/BBB	BBB-/Baa3/BBB- or below
	Pricing Level	LEVEL I	LEVEL II	LEVEL III	LEVEL IV	LEVEL V	LEVEL VI	LEVEL VII
	Applicable Margin for Eurodollar Rate Advances	0.69%	0.795%	0.90%	1.00%	1.075%	1.275%	1.475%
	Applicable Margin for Base Rate Advances	0.00%	0.00%	0.00%	0.00%	0.075%	0.275%	0.475%
	Facility Fee	0.06%	0.08%	0.10%	0.125%	0.175%	0.225%	0.275%

The Facility Fee and the Applicable Margin shall be, at any time, the rate per annum set forth in the table above based upon the ratings assigned by S&P, Moody’s and Fitch (subject to the paragraph below) to the senior unsecured non-credit enhanced long-term debt of the applicable Borrower; provided that, in the event that there is no such rating then in effect for such Borrower from a particular rating agency, such rating agency’s rating for such Borrower’s corporate credit, issuer or issuer default rating (as applicable) then in effect shall constitute such Borrower’s rating by such rating agency for purposes of determining such Borrower’s Facility Fee and Applicable Margin (collectively, as applicable, the “Ratings”).
If at any time there is a split among Ratings by S&P, Moody’s and Fitch for the applicable Borrower such that all three ratings fall in different Pricing Levels, the applicable Pricing Level shall be determined by the Rating that is neither the highest nor the lowest of the three ratings.  If at any time there is a split among Ratings by S&P, Moody’s and Fitch for the applicable Borrower such that two of such ratings are in one Pricing Level (the “Majority Level”) and the third Rating is in a different Pricing Level, the applicable Pricing Level shall be at the Majority Level.  In the event that the applicable Borrower shall maintain Ratings from only two of S&P, Moody’s and Fitch and there is a split in such Ratings (i) of one Pricing Level, the applicable Pricing Level shall be determined by the higher of the two Ratings, and (ii) of two or more Pricing Levels, the applicable Pricing Level for such Borrower shall be the Pricing Level that is exactly between the Pricing Level of the higher Rating and the Pricing Level of the lower Rating (the “Midpoint”), or if there is no Midpoint, the Level that is one Level above a notional Pricing Level that falls at the midpoint between the actual Ratings.  In the event that the applicable Borrower shall maintain Ratings from only one of S&P, Moody’s and Fitch, the applicable Pricing Level for such Borrower shall be determined by reference to that one Rating.  If at any time any Borrower does not have a Rating from at least one of S&P, Moody’s or Fitch, the applicable Pricing Level for such Borrower shall be set at Pricing Level VII.  Notwithstanding the foregoing, if at any time any Borrower has any Rating that corresponds to Level VII, the applicable Pricing Level shall be Level VII for such Borrower.  The Pricing Level shall be redetermined on and as of the date of announcement of a change for such Borrower in the Rating of S&P, Moody’s or Fitch.
“Applicable Rate” means:
(i)    in the case of each Base Rate Advance, a rate per annum equal at all times to the sum of the Alternate Base Rate in effect from time to time plus the Applicable Margin in effect from time to time;
(ii)    in the case of each Eurodollar Rate Advance comprising part of the same Borrowing, a rate per annum during each Interest Period equal at all times to the sum of the Eurodollar Rate for such Interest Period plus the Applicable Margin in effect from time to time during such Interest Period; and
(iii)    in the case of each LIBOR Market Index Rate Advance, a rate per annum equal at all times to the sum of the LIBOR Market Index Rate in effect from time to time plus the Applicable Margin in effect for a Eurodollar Rate Advance from time to time.
“Applicable Share” means the percentage which such Borrower’s Sublimit bears to the amount of the Aggregate Commitment.
“Approved Fund” means any Fund that is administered or managed by (i) a Lender, (ii) an Affiliate of a Lender, or (iii) a Person (or an Affiliate of a Person) that administers or manages a Lender.
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“Available Commitment” means, for each Lender at any time on any day, an amount equal to the excess, if any, of (i) such Lender’s Commitment then in effect over (ii) such Lender’s Credit Exposure, computed after giving effect to all Extensions of Credit made or to be made on such day, the application of proceeds therefrom, all prepayments and repayments of Advances made on such day and all reductions in the LC Outstandings made on such day.
“Available Tenor” means, as of any date of determination and with respect to the then-current Benchmark, as applicable, (a) if the then-current Benchmark is a term rate, any tenor for such Benchmark or (b) otherwise, any payment period for interest calculated with reference to such Benchmark, as applicable, that is or may be used for determining the length of an Interest Period pursuant to this Agreement as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition of “Interest Period” pursuant to Section 2.14(b)(iv).
“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). 
“Bankruptcy Event” means the occurrence of any actual or deemed entry of an order for relief with respect to any Borrower under the Federal Bankruptcy Code.
“Banks” has the meaning assigned to that term in the Preamble to this Agreement.
“Base Rate Advance” means an Advance (other than a Swingline Advance) that bears interest based upon the Alternate Base Rate as provided in clause (i) of the definition of “Applicable Rate”.
“Benchmark” means, initially, USD LIBOR; provided that if a Benchmark Transition Event, a Term SOFR Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date have occurred with respect to USD LIBOR or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to Section 2.14(b)(i).
“Benchmark Replacement” means, for any Available Tenor,
(a)with respect to any Benchmark Transition Event or Early Opt-in Election, the first alternative set forth in the order below that can be determined by the Agent for the applicable Benchmark Replacement Date:  
(1)the sum of: (A) Term SOFR and (B) the related Benchmark Replacement Adjustment;
(2)the sum of: (A) Daily Simple SOFR and (B) the related Benchmark Replacement Adjustment; 
(3)the sum of: (A) the alternate benchmark rate that has been selected by the Agent and the Borrower as the replacement for the then-current Benchmark for the applicable Corresponding Tenor giving due consideration to (i) any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining a benchmark rate as a replacement for the then-current Benchmark for Dollar-denominated syndicated credit facilities at such time and (B) the related Benchmark Replacement Adjustment; or
(b)with respect to any Term SOFR Transition Event, the sum of (i) Term SOFR and (ii) the related Benchmark Replacement Adjustment;
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provided that, (i) in the case of clause (a)(1), if the Agent decides that Term SOFR is not administratively feasible for the Agent, then Term SOFR will be deemed unable to be determined for purposes of this definition and (ii) in the case of clause (a)(1) or clause (b) of this definition, the applicable Unadjusted Benchmark Replacement is displayed on a screen or other information service that publishes such rate from time to time as selected by the Agent in its reasonable discretion. If the Benchmark Replacement as determined pursuant to clause (a)(1), (a)(2) or (a)(3), or clause (b) of this definition would be less than the Floor, the Benchmark Replacement will be deemed to be the Floor for the purposes of this Agreement and the other Loan Documents.
“Benchmark Replacement Adjustment” means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement for any applicable Interest Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement: 
(1)for purposes of clauses (a)(1) and (a)(2) of the definition of “Benchmark Replacement,” the first alternative set forth in the order below that can be determined by the Administrative Agent;
a.the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) as of the Reference Time such Benchmark Replacement is first set for such Interest Period that has been selected or recommended by the Relevant Governmental Body for the replacement of such Available Tenor of such Benchmark with the applicable Unadjusted Benchmark Replacement
b.the spread adjustment (which may be a positive or negative value or zero) as of the Reference Time such Benchmark Replacement is first set for such Interest Period that would apply to the fallback rate for a derivative transaction referencing the ISDA Definitions to be effective upon an index cessation event with respect to such Available Tenor of such Benchmark;
(2)for purposes of clause (a)(3) of the definition of “Benchmark Replacement,” the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by the Agent and the Borrower giving due consideration to (i) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Available Tenor of such Benchmark with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body on the applicable Benchmark Replacement Date or (ii) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Available Tenor of such Benchmark with the applicable Unadjusted Benchmark Replacement for Dollar-denominated syndicated credit facilities;
(3)for purposes of clause (b) of the definition of “Benchmark Replacement,” the spread adjustment, or method for calculating or determining such spread adjustment (which may be a positive or negative value or zero), as of the Reference Time such Benchmark Replacement is first set for such Interest Period that has been selected or recommended by the Relevant Governmental Body for the replacement of such Available Tenor of USD LIBOR with a SOFR-based rate;
provided that, (x) in the case of clause (1) above, such adjustment is displayed on a screen or other information service that publishes such Benchmark Replacement Adjustment from time to time as selected by the Administrative Agent in its reasonable discretion and (y) if the then-current Benchmark is a term rate, more than one tenor of such Benchmark is available as of the applicable Benchmark Replacement Date and the applicable Unadjusted Benchmark Replacement that will replace such Benchmark in accordance with Section 5.8(c)(i) will not be a term rate, the Available Tenor of such Benchmark for purposes of this definition of “Benchmark Replacement Adjustment” shall be deemed to be, with respect to each Unadjusted Benchmark  Replacement  having  a  payment  period  for  interest  calculated  with  reference  thereto,  the Available Tenor that has approximately the same length (disregarding business day adjustments) as such payment period.
“Benchmark Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “Base Rate,” the definition of “Business Day,” the definition of “Interest Period,” the definition of “LIBOR Market Index Rate” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Agent decides may be appropriate to reflect the adoption and 
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implementation of such Benchmark Replacement and to permit the administration thereof by the Agent in a manner substantially consistent with market practice (or, if the Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Agent determines that no market practice for the administration of such Benchmark Replacement exists, in such other manner of administration as the Agent decides is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents). 
“Benchmark Replacement Date” means the earliest to occur of the following events with respect to the then-current Benchmark:
(a)in the case of clause (a) or (b) of the definition of “Benchmark Transition Event,” the later of (a) the date of the public statement or publication of information referenced therein and (b) the date on which the administrator of such Benchmark (or the published component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such Benchmark (or such component thereof);
(b)in the case of clause (c) of the definition of “Benchmark Transition Event,” the date of the public statement or publication of information referenced therein;
(c)in the case of a Term SOFR Transition Event, the date that is thirty (30) days after the Agent has provided the Term SOFR Notice to the Lenders and the Borrower pursuant to Section 2.14(b)(i)(B); or
(d)in the case of an Early Opt-in Election, the sixth (6th) Business Day after the date notice of such Early Opt-in Election is provided to the Lenders, so long as the Agent has not received, by 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Early Opt-in Election is provided to the Lenders, written notice of objection to such Early Opt-in Election from Lenders comprising the Required Lenders.
For the avoidance of doubt, (i) if the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination and (ii) the “Benchmark Replacement Date” will be deemed to have occurred in the case of clause (a) or (b) with respect to any Benchmark upon the occurrence of the applicable event or events set forth therein with respect to all then-current Available Tenors of such Benchmark (or the published component used in the calculation thereof).
“Benchmark Transition Event” means the occurrence of one or more of the following events with respect to the then-current Benchmark:
(a)a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof), permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof);
(b)a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof), the FRB or the Federal Reserve Bank of New York, an insolvency official with jurisdiction over the administrator for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator for such Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark (or such component), which states that the administrator of such Benchmark (or such component) has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof) permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof); or
(c)a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that all Available Tenors of such Benchmark (or such component thereof) are no longer representative.
For the avoidance of doubt, a “Benchmark Transition Event” will be deemed to have occurred with respect to any Benchmark if a public statement or publication of information set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in the calculation thereof).
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“Benchmark Unavailability Period” means the period (if any) (x) beginning at the time that a Benchmark Replacement Date pursuant to clauses (a) or (b) of that definition has occurred if, at such time, no Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 2.14(b) and (y) ending at the time that a Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 2.14(b).
“Beneficial Ownership Certification” means a certification regarding beneficial ownership as required by the Beneficial Ownership Regulation.
“Beneficial Ownership Regulation” means 31 CFR § 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 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”.
“Borrowers” has the meaning assigned to that term in the Preamble to this Agreement.
“Borrowing” means the incurrence by a Borrower (including as a result of Conversions of outstanding Advances pursuant to Section 2.11) on a single date of a group of Advances of a single Class and Type (or a Swingline Advance made by the Swingline Lender) and, in the case of Eurodollar Rate Advances, as to which a single Interest Period is in effect.
“Business Day” means a day of the year on which banks are not required or authorized to close in New York City, Charlotte, North Carolina or Madison, Wisconsin and, if the applicable Business Day relates to any Eurodollar Rate Advance or LIBOR Market Index Rate Advance, on which dealings are carried on in the London interbank market.
“Cash and Cash Equivalents” means, with respect to any Person, the aggregate amount of the following, to the extent owned by such Person free and clear of all Liens, encumbrances and rights of others and not subject to any judicial, regulatory or other legal constraint:  (i) cash on hand; (ii) Dollar demand deposits maintained in the United States with any commercial bank and Dollar time deposits maintained in the United States with, or certificates of deposit having a maturity of one year or less issued by, any commercial bank which has an office in the United States and which has a combined capital and surplus of at least $100,000,000; (iii) eurodollar time deposits maintained in the United States with, or eurodollar certificates of deposit having a maturity of one year or less issued by, any commercial bank having outstanding unsecured indebtedness that is rated (on the date of acquisition thereof) A- or better by S&P or Fitch or A3 or better by Moody’s (or an equivalent rating by another nationally-recognized credit rating agency of similar standing if none of such corporations is then in the business of rating unsecured bank indebtedness); (iv) direct obligations of, or unconditionally guaranteed by, the United States and having a maturity of one year or less; (v) commercial paper rated (on the date of acquisition thereof) A-1 or better by S&P or Fitch or P-1 or better by Moody’s (or an equivalent rating by another nationally-recognized credit rating agency of similar standing if none of such corporations is then in the business of rating commercial paper), and having a maturity of one year or less; (vi) obligations with any Lender or any other commercial bank in respect of the repurchase of obligations of the type described in clause (iv) above, provided that such repurchase obligations shall be fully secured by obligations of the type described in said clause (iv) and the possession of such obligations shall be transferred to, and segregated from other obligations owned by, such Lender or such other commercial bank; and (vii) preferred stock of any Person that is rated A- or better by S&P or Fitch or A3 or better by Moody’s (or an equivalent rating by another nationally-recognized credit rating agency of similar standing if none of such corporations is then in the business of rating preferred stock of entities engaged in such businesses).
“Cash Collateral Account” has the meaning assigned to that term in Section 2.4(i).
“Cash Collateralize” means to pledge and deposit with or deliver to the Agent, for the benefit of the Agent, the LC Issuing Banks and the Lenders, as collateral for the LC Outstandings or obligations of Lenders to fund participations in respect of LC Outstandings, cash or deposit account balances or, if the Agent and the LC Issuing Banks shall agree in their sole discretion, other credit support, in each case pursuant to documentation in form and substance satisfactory to the Agent and the LC Issuing Banks.  “Cash Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support.
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“Change in Law” means the occurrence, after the date of this Agreement (or with respect to any Lender, the date on which such Lender becomes a Lender, if later), of any of the following: (i) the adoption or taking effect of any law, rule, regulation or treaty, (ii) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any Governmental Authority or (iii) 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 or in the administration thereof 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 or implemented.
“Class” has the meaning assigned to that term in Section 2.2(a).
“Closing Date” means the day upon which each of the applicable conditions precedent enumerated in Sections 3.1 and 3.2 shall be fulfilled to the satisfaction of, or waived with the consent of, the Banks, the Agent and the Borrowers.
“Code” means the Internal Revenue Code of 1986 and the regulations promulgated and rulings issued thereunder.
“Commitment” means, for each Lender, the obligation of such Lender to make Revolving Advances to any Borrower and to participate in the Swingline Advances and reimbursement obligations of any Borrower in respect of Letters of Credit issued for the account of such Borrower in an aggregate amount no greater than the amount set forth on Schedule I hereto or, if such Lender has entered into one or more Lender Assignments or is an Additional Lender or an Increasing Lender, set forth for such Lender in the Register maintained by the Agent pursuant to Section 8.7(b), in each such case as such amount may be reduced from time to time or increased pursuant to Section 2.6.
“Commitment Increase” has the meaning assigned to that term in Section 2.6(d).
“Commitment Increase Approvals” means resolutions of the board of directors of the applicable Borrower authorizing any Commitment Increase.
“Communications” has the meaning assigned to that term in Section 8.2(b).
“Confidential Information” has the meaning assigned to that term in Section 8.8.
“Consent Date” has the meaning assigned to that term in Section 2.19(a).
“Consenting Lender” has the meaning assigned to that term in Section 2.19(a).
“Consolidated Capital” means, with respect to any Borrower, without duplication, at any date of determination, the sum of (i) Consolidated Debt of such Borrower, (ii) consolidated equity of the common stockholders of such Borrower and its Consolidated Subsidiaries, (iii) consolidated equity of the preference stockholders of such Borrower and its Consolidated Subsidiaries, (iv) the aggregate outstanding amount of Hybrid Securities of such Borrower, and (v) consolidated equity of the preferred stockholders of such Borrower and its Consolidated Subsidiaries, in each case determined at such date in accordance with GAAP, excluding, however, from such calculation, amounts identified as “Accumulated Other Comprehensive Income (Loss)” in the financial statements of the applicable Borrower set forth in the Report on Form 10-K or 10-Q of the Borrowers, as the case may be, filed most recently with the Securities and Exchange Commission prior to the date of such determination.
“Consolidated Debt” means, with respect to any Borrower, without duplication, at any date of determination, the aggregate Debt of such Borrower and its Consolidated Subsidiaries determined on a consolidated basis in accordance with GAAP, but shall not include (i) Nonrecourse Debt of any Subsidiary of such Borrower, (ii) the aggregate outstanding Debt of such Borrower and its Consolidated Subsidiaries evidenced by Hybrid Securities to the extent that the total book value of such securities does not exceed 15% of Consolidated Capital of such Borrower as of the date of determination or (iii) Operating Lease Obligations.
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“Consolidated Subsidiary” means, with respect to any Person, any Subsidiary of such Person whose accounts are or are required to be consolidated with the accounts of such Person in accordance with GAAP.
“Continuing Directors” means the members of the Board of Directors of the Parent on the date hereof and each other director of the Parent, if such other director’s election or nomination to the Board of Directors of Parent is approved by a majority of the then Continuing Directors.
“Convert”, “Conversion” and “Converted” each refers to a conversion of Advances of one Type into Advances of another Type, or to the selection of a new, or the renewal of the same, Interest Period for Advances, as the case may be, pursuant to Section 2.10 or Section 2.11.
“Corresponding Tenor” with respect to any Available Tenor means, as applicable, either a tenor (including overnight) or an interest payment period having approximately the same length (disregarding business day adjustment) as such Available Tenor.
“Credit Exposure” means, with respect to any Lender at any time, the sum of (i) the aggregate principal amount of all Advances made by such Lender outstanding at such time, (ii) such Lender’s Percentage of the LC Outstandings at such time and (iii) such Lender’s (other than the Swingline Lender’s) Percentage of the Swingline Advances outstanding at such time.
“Daily Simple SOFR” means, for any day, SOFR, with the conventions for this rate (which will include a lookback) being established by the Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Daily Simple SOFR” for syndicated business loans; provided, that if the Agent decides that any such convention is not administratively feasible for the Agent, then the Agent may establish another convention in its reasonable discretion.
“Debt” means, for any Person, any and all indebtedness, liabilities and other monetary obligations of such Person (without duplication), (i) for borrowed money or evidenced by bonds, debentures, notes or other similar instruments, (ii) to pay the deferred purchase price of property or services (except trade accounts payable arising and repaid in the ordinary course of business), (iii) Financing Lease Obligations, (iv) under reimbursement or similar agreements with respect to letters of credit (other than trade letters of credit) issued to support indebtedness or obligations of such Person or of others of the kinds referred to in clauses (i) through (iii) above and clause (v) below, (v) reasonably quantifiable obligations under direct guaranties or indemnities, or under support agreements, in respect of, and reasonably quantifiable obligations (contingent or otherwise) to purchase or otherwise acquire, or otherwise to assure a creditor against loss in respect of, or to assure an obligee against failure to make payment in respect of, indebtedness or obligations of others of the kinds referred to in clauses (i) through (iv) above, and (vi) incurred in connection with any synthetic lease, tax retention operating lease or similar off-balance sheet financing product treated as an operating lease for financial accounting purposes and a capital lease for federal income tax purposes, in each case that is entered into after the Closing Date, but excluding the obligations under the Existing Synthetic Leases, including any extension, renewal, amendment or refinancing thereof; provided that if the aggregate amount owing in respect of all such Existing Synthetic Leases, after giving effect to any such extension, renewal, amendment or refinancing, exceeds the aggregate amount owed as of the Closing Date, such excess shall be included as Debt.
“Default Rate” means (i) with respect to the unpaid principal of or interest on any Advance, the greater of (A) 2% per annum above the Applicable Rate in effect from time to time for such Advance and (B) 2% per annum above the Applicable Rate in effect from time to time for Base Rate Advances and (ii) with respect to any other unpaid amount hereunder, 2% per annum above the Applicable Rate in effect from time to time for Base Rate Advances.
“Defaulting Lender” means, subject to Section 2.22(b), any Lender, as reasonably determined by the Agent, that (i) has failed (which failure has not been cured within two Business Days) to fund any Advance or any participation interest in Letters of Credit or Swingline Advances required to be made hereunder in accordance with the terms hereof (unless such Lender shall have notified the Agent and the Borrowers in writing of its good faith determination that a condition under Section 3.2 to its obligation to fund any Advance shall not have been satisfied or waived), (ii) has notified the Borrowers, the Agent, any LC Issuing Bank or the Swingline Lender in writing that it does not intend to comply with any of its funding obligations under this Agreement or has made a public statement to the effect that it does not intend to comply with its funding obligations under this Agreement or generally under other agreements in which it commits to extend credit, (iii) has failed, within three Business Days after receipt of a written request from the Agent or any Borrower delivered in accordance with Section 8.2 to confirm that it will comply with 
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the terms of this Agreement relating to its obligation to fund prospective Advances or participations in Letters of Credit and Swingline Advances, and such request states that the requesting party has reason to believe that the Lender receiving such request may fail to comply with such obligation, and states such reason, (iv) has failed to pay to the Agent, any LC Issuing Bank or any other Lender when due an amount owed by such Lender to the Agent, any LC Issuing Bank or any other Lender pursuant to the terms of this Agreement, or (v) (a) has become or is insolvent or (b) is the Subsidiary of a Person that has (w) become or is insolvent, (x) become or is the subject of a proceeding under the Federal Bankruptcy Code or under any other applicable bankruptcy, insolvency or similar law now or hereafter in effect, (y) had appointed for it a receiver, conservator, trustee, custodian or assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity, or (z) 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 an Equity Interest in such Lender or a parent company thereof by a Governmental Authority or an instrumentality thereof so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender.  Any determination by the Agent that a Lender is a Defaulting Lender under any one or more of clauses (i) through (v) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.21(b)) upon delivery of written notice of such determination to the Borrowers, each LC Issuing Bank, each Swingline Lender and each Lender.
“Designated Lender” means a Defaulting Lender or a Downgraded Lender.
“Direct Subsidiary” means, with respect to any Person, any Subsidiary directly owned by such Person.
“Dollars” and the sign “$” each means lawful money of the United States.
“Domestic Lending Office” means, with respect to any Lender, the office or affiliate of such Lender specified as its “Domestic Lending Office” in its Administrative Questionnaire or in the Lender Assignment pursuant to which it became a Lender (copies of which shall be provided by each Lender to the Agent and the Borrowers as of the date hereof, or, in the case of a Lender Assignment, upon or prior to such Lender Assignment), or such other office or affiliate of such Lender as such Lender may from time to time specify in writing to the Borrowers and the Agent.
“Domestic Subsidiary” means any Subsidiary of any Borrower that is not a Foreign Subsidiary.
“Downgraded Lender” means any Lender that has a non-credit enhanced senior unsecured debt rating below investment grade from either Moody’s, S&P, Fitch or any other nationally recognized statistical rating organization recognized as such by the Securities and Exchange Commission.
“Early Opt-in Election” means, if the then-current Benchmark is USD LIBOR, the occurrence of:
(a)a notification by the Agent to (or the request by the Borrowers to the Agent to notify) each of the other parties hereto that at least five currently outstanding Dollar-denominated syndicated credit facilities at such time contain (as a result of amendment or as originally executed) a SOFR-based rate (including SOFR, a term SOFR or any other rate based upon SOFR) as a benchmark rate (and such syndicated credit facilities are identified in such notice and are publicly available for review), and
(b)the joint election by the Agent and the Borrowers to trigger a fallback from USD LIBOR and the provision by the Agent of written notice of such election to the Lenders.
“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.
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“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 (i) a commercial bank or trust company organized under the laws of the United States, or any State thereof; (ii) a commercial bank organized under the laws of any other country that is a member of the OECD, or a political subdivision of any such country, provided that such bank is acting through a branch or agency located in the United States; (iii) the central bank of any country that is a member of the OECD; and (iv) any other commercial bank or other financial institution engaged generally in the business of extending credit or purchasing debt instruments; provided, however, that (A) any such Person shall also (1) have outstanding unsecured indebtedness that is rated A- or better by S&P or Fitch or A3 or better by Moody’s (or an equivalent rating by another nationally-recognized credit rating agency of similar standing if none of such rating agencies is then in the business of rating unsecured indebtedness of entities engaged in such businesses) or (2) have combined capital and surplus (as established in its most recent report of condition to its primary regulator) of not less than $250,000,000 (or its equivalent in foreign currency), and (B) any Person described in clause (ii), (iii) or (iv) above shall, on the date on which it is to become a Lender hereunder, (x) be entitled to receive payments hereunder without deduction or withholding of any United States Federal income taxes (as contemplated by Section 2.17) and (y) not be incurring any losses, costs or expenses of the type for which such Person could demand payment under Section 2.13.
“Equity Interests” means, (i) with respect to a corporation, shares of common stock of such corporation or any other interest convertible or exchangeable into any such interest, (ii) with respect to a limited liability company, a membership interest in such company, (iii) with respect to a partnership, a partnership interest in such partnership, and (iv) with respect to any other Person, an interest in such Person analogous to interests described in clauses (i) through (iii).
“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the regulations promulgated and rulings issued thereunder.
“ERISA Affiliate” means, with respect to any Person, any trade or business (whether or not incorporated) which is under “common control” with, or a member of the same “controlled group” as, such Person, within the meaning of Section 414 of the Code or Section 4001 of ERISA.
“ERISA Event” means, with respect to any Borrower:  (i) with respect to a Plan of such Borrower, the occurrence of a “reportable event,” within the meaning of Section 4043 of ERISA for which the thirty day notice requirement has not been waived by the PBGC (including any failure to meet the minimum funding standard of, or timely make any required installment payment under, Section 412 of the Code or Section 302 of ERISA, regardless of the issuance of any waivers in accordance with Section 412(c) of the Code); (ii) the provision by the administrator of any Plan of such Borrower of notice of intent to terminate such Plan, pursuant to Section 4041(a)(2) of ERISA; (iii) the cessation of operations at a facility of such Borrower in the circumstances described in Section 4062(e) of ERISA; (iv) the withdrawal by such Borrower or an ERISA Affiliate of such Borrower from a Multiple Employer Plan or a Multiemployer Plan during a plan year for which it was a “substantial employer,” as defined in Section 4001(a)(2) of ERISA; (v) the failure by such Borrower or an ERISA Affiliate of such Borrower to make a payment to a Plan of such Borrower, which failure results in the imposition of a Lien; (vi) the incurrence of an obligation to provide a notice under Section 101(j) of ERISA; (vii) the adoption of an amendment to a Plan of such Borrower which may not take effect due to the application of Section 436(c)(1) of the Code or Section 206(g)(2)(A) of ERISA, or the payment of a contribution in order to satisfy the requirements of Section 436(c)(2) of the Code or Section 206(g)(2)(B) of ERISA; or (viii) the institution by the PBGC of proceedings to terminate a Plan of such Borrower, pursuant to Section 4042 of ERISA, or the occurrence of any event or condition which might reasonably be expected to constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, a Plan of such Borrower.

“Erroneous Payment” has the meaning given to such in term in Section 7.13.

“Erroneous Payment Impacted Class” has the meaning given to such in term in Section 7.13.

“Erroneous Payment Deficiency Assignment” has the meaning given to such in term in Section 7.13.

“Erroneous Payment Return Deficiency” has the meaning given to such in term in Section 7.13.

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“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.

“Eurocurrency Liabilities” has the meaning assigned to that term in Regulation D of the Board of Governors of the Federal Reserve System, as in effect from time to time.
“Eurodollar Lending Office” means, with respect to any Lender, the office or affiliate of such Lender specified as its “Eurodollar Lending Office” in its Administrative Questionnaire or in the Lender Assignment pursuant to which it became a Lender (or, if no such office is specified, its Domestic Lending Office), or such other office or affiliate of such Lender as such Lender may from time to time specify in writing to the Borrowers and the Agent.
“Eurodollar Rate” means, subject to the implementation of a Benchmark Replacement in accordance with Section 2.14(b), with respect to each Eurodollar Rate Advance comprising part of the same Borrowing for any Interest Period, an interest rate per annum equal to (i) the rate of interest published by ICE Benchmark Administration Limited, a United Kingdom company (or a comparable or successor quoting service approved by the Agent) for Dollar deposits or (ii) if no such rate is available, the rate of interest determined by the Agent to be the rate or the arithmetic mean of rates at which Dollar deposits in immediately available funds are offered to first-tier banks in the London interbank Eurodollar market, in each case under (i) and (ii) above at approximately 11:00 a.m., London time, two Business Days prior to the first day of such Interest Period for a period substantially equal to such Interest Period and in an amount substantially equal to the amount of Wells Fargo’s Eurodollar Rate Advance comprising part of such Borrowing, all subject to Section 2.9 and Section 2.10.  If such rate is not determinable prior to the making of any Advance, then the requested Advance will be made at the Alternate Base Rate subject to Section 2.10.  Notwithstanding the foregoing, (x) in no event shall the Eurodollar Rate (including any Benchmark Replacement with respect thereto) be less than 0% and (y) unless otherwise specified in any amendment to this Agreement entered into in accordance with Section 2.14(b), in the event that a Benchmark Replacement with respect to the Eurodollar Rate is implemented then all references herein to the Eurodollar Rate shall be deemed references to such Benchmark Replacement.
“Eurodollar Rate Advance” means an Advance (other than a Swingline Advance) that bears interest based upon the Eurodollar Rate as provided in clause (ii) of the definition of “Applicable Rate”.
“Eurodollar Reserve Percentage” of any Lender for each Interest Period for each Eurodollar Rate Advance means the reserve percentage applicable to such Lender during such Interest Period (or if more than one such percentage shall be so applicable, the daily average of such percentages for those days in such Interest Period during which any such percentage shall be so applicable) under Regulation D or other regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) then applicable to such Lender with respect to liabilities or assets consisting of or including Eurocurrency Liabilities having a term equal to such Interest Period.
“Event of Default” means a Parent Event of Default, IPL Event of Default or WPL Event of Default, as the case may be.
“Excluded Taxes” has the meaning assigned to that term in Section 2.17(a).
“Existing Credit Agreement” has the meaning assigned to that term in the first Preliminary Statement to this Agreement.
“Existing Synthetic Leases” means all synthetic leases existing on the Closing Date and set forth on Schedule II.
“Extension Notice” has the meaning assigned to that term in Section 2.19(a).
“Extension of Credit” means (i) the disbursement of the proceeds of any Borrowing and (ii) the issuance of a Letter of Credit or the amendment of any Letter of Credit having the effect of extending the stated termination date thereof or increasing the maximum amount available to be drawn thereunder.
“Facility Fee” means a fee that shall be payable by each Borrower on the aggregate amount of the Commitment of each Lender, irrespective of usage, in an amount equal to the product of the rate per annum as set 
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forth in the definition of Applicable Margin for such Borrower multiplied by its Sublimit, and if there is any change in such Borrower’s Sublimit during any applicable period, the Facility Fee for such Borrower shall be the sum of the products of the per annum Applicable Margin for such Borrower multiplied by the applicable Sublimit for each period that Sublimit was in effect.
“FATCA” means Sections 1471 through 1474 of the Internal Revenue Code of 1986, as amended, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code and any applicable intergovernmental agreements with respect thereto.
“Federal Bankruptcy Code” means 11 U.S.C. §§ 101 et seq., as amended from time to time, and any successor statute, and all regulations from time to time promulgated thereunder.
“Federal Funds Rate” means, for any period, a fluctuating interest rate per annum (rounded upwards, if necessary, to the nearest 1/100 of one percentage point) equal for each day during such period to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published for such day (or, if such day is not a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average of the quotations for such day on such transactions received by the Agent from three Federal funds brokers of recognized standing selected by it.  Notwithstanding the foregoing, if the Federal Funds Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement.
“Fee Letters” means the Wells Fargo Fee Letter and the JPMorgan Fee Letter.
“FERC Order” means Docket No. ES21-65-000 dated December 3, 2021, issued by the Federal Energy Regulatory Commission authorizing IPL to obtain Extensions of Credit and to perform its obligations under this Agreement until December 31, 2023.
“Financing Lease Obligations” means obligations to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real and/or personal property which obligation is required to be classified and accounted for as a finance lease on a balance sheet prepared in accordance with GAAP, and for purposes hereof the amount of such obligations shall be the financing lease liability amount determined in accordance with such principles.
“Fitch” means Fitch Ratings.
“Floor” means the benchmark rate floor, if any, provided in this Agreement initially (as of the execution of this Agreement, the modification, amendment or renewal of this Agreement or otherwise) with respect to USD LIBOR.
“Foreign Lender” means (i) if any Borrower is a U.S. Person, a Lender that is not a U.S. Person, and (ii) if any Borrower is not a U.S. Person, a Lender that is resident or organized under the laws of a jurisdiction other than that in which such Borrower is resident for tax purposes.
“Foreign Subsidiary” means any Subsidiary of any Borrower that is organized under the law of any jurisdiction other than any state of the United States of America.
“Fronting Exposure” means, at any time there is a Defaulting Lender, (i) with respect to any LC Issuing Bank, such Defaulting Lender’s LC Outstandings with respect to Letters of Credit issued by such LC Issuing Bank other than such portion of such Defaulting Lender’s LC Outstandings as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof, and (ii) with respect to any Swingline Lender, such Defaulting Lender’s Swingline Exposure with respect to outstanding Swingline Advances made by the Swingline Lender other than Swingline Advances as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders in accordance with the terms hereof.
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“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, bonds and similar extensions of credit in the ordinary course of its activities.
“Future PSC Order” means an order of the Public Service Commission of Wisconsin or other action by the Public Service Commission of Wisconsin or its staff required in order for WPL to receive Extensions of Credit for the term of this Agreement.
“GAAP” means generally accepted accounting principles in the United States as in effect from time to time.
“Governmental Approval” means any authorization, consent, approval, license, franchise, lease, ruling, tariff, rate, permit, certificate, exemption of, or filing or registration with, any Governmental Authority or other legal or regulatory body.
“Governmental Authority” means the government of the United States of America or any other nation, or of any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supranational bodies such as the European Union or the European Central Bank).
“Hazardous Substance” means any waste, substance, or material identified as hazardous, dangerous or toxic by any office, agency, department, commission, board, bureau, or instrumentality of the United States or of the State or locality in which the same is located having or exercising jurisdiction over such waste, substance or material.
“Hostile Acquisition” means any acquisition involving a tender offer or proxy contest that has not been recommended or approved by the board of directors (or similar governing body) of the Person that is the subject of such acquisition prior to the first public announcement or disclosure relating to such acquisition.
“Hybrid Securities” means, with respect to any Borrower, any hybrid securities consisting of trust preferred securities or deferrable interest subordinated debt securities issued by such Borrower or any of its Subsidiaries or a financing vehicle of such Borrower that (i) has an original maturity of at least 20 years, (ii) requires no repayments or prepayments and no mandatory redemptions or repurchases, in each case, prior to at least ninety-one days after the occurrence of the Termination Date and (iii) are classified as possessing a minimum of “intermediate equity content” by S&P, Basket C equity credit by Moody’s, and, if available, 50% equity credit by Fitch; provided that, to the extent any such category of a rating agency is no longer in existence, the applicable references in this definition shall be deemed to be a reference to the nearest equivalent category of such rating agency.
“Increasing Lender” has the meaning assigned to that term in Section 2.6(d).
“Indemnified Person” has the meaning assigned to that term in Section 8.4(b).
“Initial Advances” has the meaning assigned to that term in Section 2.6(d)(iii).
“Interest Period” means, for each Eurodollar Rate Advance made as part of the same Borrowing, the period commencing on the date of such Eurodollar Rate Advance or the date of the Conversion of any Advance into such a Eurodollar Rate Advance and ending on the last day of the period selected by the applicable Borrower pursuant to the provisions below and, thereafter, each subsequent period commencing on the last day of the immediately preceding Interest Period and ending on the last day of the period selected by such Borrower pursuant to the provisions below.  The duration of each such Interest Period shall be 1, 3 or 6 months (subject to availability), as the applicable Borrower may, upon notice received by the Agent not later than 11:00 a.m. on the third Business Day prior to the first day of such Interest Period, select; provided, however, that:
(i)    no Borrower may select any Interest Period that ends after the Termination Date;
(ii)    Interest Periods commencing on the same date for Advances comprising part of the same Borrowing shall be of the same duration; and
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(iii)    whenever the last day of any Interest Period would otherwise occur on a day other than a Business Day, the last day of such Interest Period shall be extended to occur on the next succeeding Business Day, provided, in the case of any Interest Period for a Eurodollar Rate Advance, that if such extension would cause the last day of such Interest Period to occur in the next following calendar month, the last day of such Interest Period shall occur on the next preceding Business Day.
“IPL” means Interstate Power and Light Company, an Iowa corporation.
“IPL Event of Default” has the meaning assigned to that term in Section 6.1.
“IPL Maximum Sublimit” means $400,000,000.
“IPL Sublimit” means $250,000,000 as such amount may be adjusted pursuant to Section 2.6.
“ISDA Definitions” means the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time by the International Swaps and Derivatives Association, Inc. or such successor thereto.
“ISP” has the meaning assigned to that term in Section 8.10.
“Joint Arrangers” means, collectively, Wells Fargo Securities, LLC, JPMorgan Chase Bank, N.A., Barclays Bank PLC, Goldman Sachs Bank USA, Merrill Lynch, Pierce, Fenner & Smith, Incorporated (or any other registered broker-dealer wholly-owned by Bank of America Corporation to which all or substantially all of Bank of America Corporation’s or any of its subsidiaries’ investment banking, commercial lending services or related businesses may be transferred without notice following the date of this Agreement), Mizuho Bank, Ltd., and MUFG Bank, Ltd.
“JPMorgan Fee Letter” means that certain letter agreement, dated November 18, 2021 between the Borrowers and JPMorgan Chase Bank, N.A.
“LC Commitment” means, for each LC Issuing Bank, the obligation of such LC Issuing Bank to issue Letters of Credit in an amount no greater than the amount set forth on Schedule I hereto (or such greater amount as agreed to by such LC Issuing Bank in its sole and absolute discretion).
“LC Fee” is defined in Section 2.5(c).
“LC Issuing Bank” means Wells Fargo, JPMorgan Chase Bank, N.A. and any other Lender who has agreed in its sole discretion to issue Letters of Credit and has been approved by the Borrowers and the Agent to serve in such capacity.
“LC Outstandings” means, on any date of determination, the sum of the undrawn stated amounts of all Letters of Credit that are outstanding on such date plus the aggregate principal amount of all unpaid reimbursement obligations of any Borrower on such date with respect to payments made by the LC Issuing Banks under Letters of Credit.
“LC Payment Notice” is defined in Section 2.4(d).
“LC Sublimit” means $100,000,000 or, if less, the Aggregate Commitment at the time of determination, as such may be reduced at or prior to such time pursuant to the terms hereof.
“Lender Assignment” means an assignment and acceptance agreement entered into by a Lender and an Eligible Assignee, and accepted by the Agent and the LC Issuing Banks, in substantially the form of Exhibit 8.7.
“Lenders” means the Banks listed on the signature pages hereof, each Additional Lender and each Eligible Assignee that shall become a party hereto pursuant to Section 8.7, provided, that unless the context otherwise requires, each reference herein to the Lenders shall be deemed to include the Swingline Lender in such capacity.
“Letter of Credit” means any letter of credit issued by any LC Issuing Bank pursuant to Section 2.4.
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“LIBOR Market Index Rate” means, for any day, the rate for one month deposits in Dollars as published by ICE Benchmark Administration Limited, a United Kingdom company (or a comparable or successor quoting service which is approved by the Agent, in consultation with the Borrowers) as of 11:00 a.m. London time, on such day, or if such day is not a Business Day, for the immediately preceding Business Day.  If, for any reason, such rate is not so published, then the LIBOR Market Index Rate shall be determined by the Agent to be the arithmetic average of the rate per annum at which Dollar deposits would be offered by first class banks (as determined in consultation with the Borrowers) in the London interbank market to the Agent at approximately 11:00 a.m., London time, on such date of determination for delivery on the date in question for a one month term.  Notwithstanding the foregoing, if the LIBOR Market Index Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement.
“LIBOR Market Index Rate Advance” means a Swingline Advance that bears interest based upon the LIBOR Market Index Rate as provided in clause (iii) of the definition of “Applicable Rate”.
“Lien” has the meaning assigned to that term in Section 5.2(a).
“Loan Documents” means (i) this Agreement, any Notes issued pursuant to Section 2.16, and the Fee Letters, (ii) all agreements, documents and instruments in favor of the Agent, the LC Issuing Banks or the Lenders (or the Agent on behalf of any LC Issuing Bank or the Lenders), and (iii) all other agreements, instruments and documents now or hereafter executed and/or delivered pursuant hereto or thereto.
“Majority Lenders” means, on any date of determination, Lenders that, collectively, on such date (i) hold greater than 50% of the then Outstanding Credits and, (ii) if there are no Outstanding Credits, have Percentages in the aggregate greater than 50%; provided that the Outstanding Credits and Percentage held or deemed held by any Defaulting Lender shall be excluded for purposes of making a determination of Majority Lenders.  Any determination of those Lenders constituting the Majority Lenders shall be made by the Agent and shall be conclusive and binding on all parties absent manifest error.
“Margin Stock” has the meaning assigned to that term in Regulation U of the Board of Governors of the Federal Reserve System.
“Material Adverse Change” means, with respect to any Borrower, (i) a material adverse change in, or a material adverse effect upon, the operations, business, properties, liabilities (actual or contingent), or financial condition of such Borrower or such Borrower and its Subsidiaries taken as a whole; (ii) a material impairment of the ability of such Borrower to perform its obligations under any Loan Document to which it is a party; or (iii) a material adverse change upon the legality, validity, binding effect or enforceability against such Borrower of any Loan Document to which it is a party.
“Maximum Sublimit” means, individually, the Parent Maximum Sublimit, the IPL Maximum Sublimit, or the WPL Maximum Sublimit and collectively, the “Maximum Sublimits”.
“Moody’s” means Moody’s Investors Service, Inc. or any successor thereto.
“Mortgage Bond Indentures” means the indentures listed on Schedule IV hereto.
“Multiemployer Plan” means a “multiemployer plan”, as defined in Section 4001(a)(3) of ERISA, which is subject to Title IV of ERISA and to which any Borrower or any ERISA Affiliate of any Borrower is making or has an obligation to make contributions, or has within any of the preceding five plan years made or had an obligation to make contributions.
“Multiple Employer Plan” means a “single employer plan”, as defined in Section 4001(a)(15) of ERISA, which is subject to Title IV of ERISA and (i) is maintained for employees of any Borrower or an ERISA Affiliate of any Borrower and at least one Person other than such Borrower and its ERISA Affiliates or (ii) was so maintained and in respect of which such Borrower or an ERISA Affiliate of such Borrower could have liability under Section 4064 or 4069 of ERISA in the event such plan has been or were to be terminated.
“Non-Consenting Lender” has the meaning assigned to that term in Section 2.19(a).
“Non-Performing Lender” has the meaning assigned to that term in Section 2.4(e).
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“Nonrecourse Debt” means Debt of any Subsidiary of any Borrower (i) as to which (A) such Borrower provides no credit support of any kind (including any undertaking, agreement or instrument that would constitute Debt), (B) such Borrower is not directly or indirectly liable as a guarantor or otherwise, (C) such Borrower is not the lender or other type of creditor, or (D) the relevant legal documents do not provide that the lenders or other type of creditors with respect thereto will have any recourse to the stock or assets of such Borrower and (ii) no default with respect to which would permit, upon notice, lapse of time or both, any holder of any other Debt (other than the Advances, any Note, or any extension, renewal, refinancing or replacement thereof that does not increase the outstanding principal thereof) of such Borrower to declare a default on such other Debt or cause the payment thereof to be accelerated or payable prior to its stated maturity.  For the avoidance of doubt, if such Borrower provides credit support that is limited in its drawable amount for any portion of Debt of any Subsidiary of such Borrower that would be considered Nonrecourse Debt but for the provision of such credit support, such Debt shall be considered Nonrecourse Debt to the extent that it is not so supported.
“Notes” means any or all of the Revolving Notes and the Swingline Note.
“Notice of Borrowing” has the meaning assigned to that term in Section 2.2(b).
“Notice of Conversion” has the meaning assigned to that term in Section 2.11.
“Notice of Swingline Borrowing” has the meaning assigned to that term in Section 2.2(c).
“OECD” means the Organization for Economic Cooperation and Development.
“OFAC” means the U.S. Department of the Treasury’s Office of Foreign Assets Control, and any successor thereto.
“Operating Lease Obligations” means obligations to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real and/or personal property which obligation is required to be classified and accounted for as an operating lease on a balance sheet prepared in accordance with GAAP, and for purposes hereof the amount of such obligations shall be the operating lease liability amount determined in accordance with such principles.
“Other Taxes” has the meaning assigned to that term in Section 2.17(b).
“Outstanding Credits” means, on any date of determination, an amount equal to the sum of (i) the aggregate principal amount of all Revolving Advances outstanding on such date, (ii) the aggregate principal amount of all Swingline Advances outstanding on such date, and (iii) the LC Outstandings on such date.
“Parent” means Alliant Energy Corporation, a Wisconsin corporation.
“Parent Event of Default” has the meaning assigned to that term in Section 6.1.
“Parent Maximum Sublimit” means $500,000,000.
“Parent Sublimit” means $450,000,000 as such amount may be adjusted pursuant to Section 2.6.
“Participant” has the meaning given to such term in Section 8.7(c).
“Participant Register” has the meaning given to such term in Section 8.7(c).
“PATRIOT Act” means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT Act, Title III of Pub. L. 107-56 (signed into law October 26, 2001)), as amended from time to time, and any successor statute, and all rules and regulations from time to time promulgated thereunder.
“Payment Recipient” has the meaning given to such in term in Section 7.13.
“PBGC” means the Pension Benefit Guaranty Corporation (or any successor entity).
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“Percentage” means, for any Lender on any date of determination, the percentage obtained by dividing such Lender’s Commitment on such day by the Aggregate Commitment on such date, and multiplying the quotient so obtained by 100.  If the Aggregate Commitments have been terminated pursuant to Section 6.1 or if the Aggregate Commitments have expired, then the Percentage of each Lender shall be determined based on the Percentage of such Lender most recently in effect, giving effect to any subsequent assignments.
“Person” means an individual, partnership, corporation (including a business trust), limited liability company, joint stock company, trust, unincorporated association, joint venture or other entity, or a government or any political subdivision or agency thereof.
“Plan” means a Single Employer Plan or a Multiple Employer Plan.
“Platform” means Debt Domain, Intralinks, Syndtrak, DebtX or a substantially similar electronic transmission system.
“Prime Rate” means, at any time, the rate of interest per annum publicly announced from time to time by the Agent as its prime rate.  Each change in the Prime Rate shall be effective as of the opening of business on the day such change in such prime rate occurs.  The parties hereto acknowledge that the rate announced publicly by the Agent as its prime rate is an index or base rate and shall not necessarily be its lowest or best rate charged to its customers or other banks.
“Prior Termination Date” has the meaning assigned to that term in Section 2.19(b).
“PSC Order” means the order of the Public Service Commission of Wisconsin (Docket No. 6680-SB-140) dated August 11, 2017.
“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.
“Recipient” means (i) the Agent, (ii) any Lender and (iii) any LC Issuing Bank, as applicable.
“Reference Time” with respect to any setting of the then-current Benchmark means (1) if such Benchmark is USD LIBOR, 11:00 a.m. (London time) on the day that is two (2) London Banking Days preceding the date of such setting, and (2) if such Benchmark is not USD LIBOR, the time determined by the Agent in its reasonable discretion.
“Refunded Swingline Advances” has the meaning assigned to that term in Section 2.2(d).
“Register” has the meaning assigned to that term in Section 8.7(a)(iv).
“Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees, agents, trustees, administrators, managers, advisors and representatives of such Person and of such Person’s Affiliates.
“Relevant Governmental Body” means the FRB or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the FRB or the Federal Reserve Bank of New York, or any successor thereto. 
“Request for Issuance” means a request made pursuant to Section 2.4(a) in the form of Exhibit 2.4.
“Requirement of Law” means, with respect to any Person, the charter, articles or certificate of organization or incorporation and bylaws or other organizational or governing documents of such Person, and any statute, law, treaty, rule, regulation, order, decree, writ, injunction or determination of any arbitrator or court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject or otherwise pertaining to any or all of the transactions contemplated by this Agreement and the other Loan Documents.
“Resignation Effective Date” has the meaning assigned to that term in Section 7.7.
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“Resolution Authority” means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.
“Revolving Advances” has the meaning assigned to that term in Section 2.1(a).
“Revolving Note” means a promissory note issued at the request of a Lender pursuant to Section 2.16, in substantially the form of Exhibit 1.1(a) hereto, evidencing the aggregate indebtedness of a Borrower to such Lender resulting from the Revolving Advances made by such Lender.
“S&P” means Standard & Poor’s Financial Services, LLC, a subsidiary of McGraw Hill Financial, Inc., or any successor thereto.
“Sanctioned Country” means, at any time, a country, region or territory which is itself the subject or target of any Sanctions (at the time of this Agreement, Crimea, Cuba, Iran, North Korea and Syria).
“Sanctioned Person” means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by OFAC (including OFAC’s Specially Designated Nationals and Blocked Persons List and OFAC’s Consolidated Non-SDN List), the U.S. Department of State, the United Nations Security Council, the European Union, any European member state, Her Majesty’s Treasury, or other relevant sanctions authority, (b) any Person operating, organized or resident in a Sanctioned Country, (c) any Person owned or controlled by, or acting or purporting to act for or on behalf of, directly or indirectly, any such Person or Persons described in clauses (a) and (b), including a Person that is deemed by OFAC to be a Sanctions target based on the ownership of such legal entity by Sanctioned Person(s) or (d) any Person otherwise a target of Sanctions, including vessels and aircraft, that are designated under any Sanctions program.
“Sanctions” means any and all economic or financial sanctions, sectoral sanctions, secondary sanctions, trade embargoes and restrictions and anti-terrorism laws, including but not limited to those imposed, administered or enforced from time to time by the U.S. government (including those administered by OFAC or the U.S. Department of State), the United Nations Security Council, the European Union, any European member state, Her Majesty’s Treasury, or other relevant sanctions authority in any jurisdiction in which (a) the Borrower or any of its Subsidiaries or Affiliates is located or conducts business, (b) in which any of the proceeds of the Extensions of Credit will be used, or (c) from which repayment of the Extensions of Credit will be derived.
“Senior Financial Officer” means the President, the Chief Executive Officer, the Chief Financial Officer, the Chief Accounting Officer, the Treasurer or Assistant Treasurer of the applicable Borrower.
“Significant Subsidiary” means any Subsidiary of any Borrower that, on a consolidated basis with any of its Subsidiaries as of any date of determination, accounts for more than 20% of the consolidated assets (valued at book value) of such Borrower and its Subsidiaries.
“Single Employer Plan” means a “single employer plan”, as defined in Section 4001(a)(15) of ERISA, which is subject to Title IV of ERISA and which (i) is maintained for employees of any Borrower or an ERISA Affiliate of any Borrower and no Person other than such Borrower and its ERISA Affiliates, or (ii) was so maintained and in respect of which such Borrower or an ERISA Affiliate of such Borrower could have liability under Section 4069 of ERISA in the event such plan has been or were to be terminated.
“SOFR” means, with respect to any Business Day, a rate per annum equal to the secured overnight financing rate for such Business Day published by the SOFR Administrator on the SOFR Administrator’s Website on the immediately succeeding Business Day.
“SOFR Administrator” means the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate).
“SOFR Administrator’s Website” means the website of the Federal Reserve Bank of New York, currently at http://www.newyorkfed.org, or any successor source for the secured overnight financing rate identified as such by the SOFR Administrator from time to time.
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“Sublimit” means, individually, the Parent Sublimit, the IPL Sublimit, or the WPL Sublimit and collectively, the “Sublimits”.
“Sublimit Adjustment Letter” means a letter substantially in the form of Exhibit 1.1(c).
“Subsequent Advances” has the meaning assigned to that term in Section 2.6(d)(iii).
“Subsidiary” means, with respect to any Person, any corporation or unincorporated entity of which more than 50% of the outstanding Equity Interests having ordinary voting power (irrespective of whether at the time Equity Interests of any other class or classes of such corporation or entity shall or might have voting power upon the occurrence of any contingency) is at the time owned by said Person, either directly or through one or more other Subsidiaries.  In the case of an unincorporated entity, a Person shall be deemed to have more than 50% of interests having ordinary voting power only if such Person’s vote in respect of such interests comprises more than 50% of the total voting power of all such interests in the unincorporated entity.
“Supplemental Order” means the order, orders or regulations of the Federal Energy Regulatory Commission or its successor or any other applicable statute authorizing IPL to obtain Extensions of Credit and to perform its obligations under this Agreement after December 31, 2023.
“Swingline Advance” shall have the meaning given to such term in Section 2.1(b).
“Swingline Commitment” means $50,000,000 or, if less, the Available Commitment of the Swingline Lender at the time of determination, as such amount may be reduced.
“Swingline Exposure” means, with respect to any Lender at any time, its maximum aggregate liability to make Refunded Swingline Advances pursuant to Section 2.2(d) or to purchase participations pursuant to Section 2.2(e) in Swingline Advances that are outstanding at such time.
“Swingline Lender” means Wells Fargo in its capacity as maker of Swingline Advances, and its successors in such capacity.
“Swingline Note” means a promissory note issued at the request of the Swingline Lender pursuant to Section 2.16, in substantially the form of Exhibit 1.1(b) hereto, evidencing the aggregate indebtedness of the Borrowers to such Lender resulting from Swingline Advances made by the Swingline Lender.
“Swingline Termination Date” means the date that is five Business Days prior to the Termination Date.
“Taxes” has the meaning assigned to that term in Section 2.17(a).
“Termination Date” means the earlier to occur of (i) December 17, 2026 (as such date may be extended from time to time pursuant to Section 2.19); provided, however, that, in each case, if such date is not a Business Day, the Termination Date shall be the immediately preceding Business Day and (ii) the date of termination or reduction in whole of the Aggregate Commitment pursuant to Section 2.6 or Section 6.1.
“Term SOFR” means, for the applicable Corresponding Tenor as of the applicable Reference Time, the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body.
“Term SOFR Notice” means a notification by the Agent to the Lenders and the Borrower of the occurrence of a Term SOFR Transition Event.
“Term SOFR Transition Event” means the determination by the Agent that (a) Term SOFR has been recommended for use by the Relevant Governmental Body, (b) the administration of Term SOFR is administratively feasible for the Agent and (c) a Benchmark Transition Event or an Early Opt-in Election, as applicable, has previously occurred resulting in the replacement of the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 2.14(b) with a Benchmark Replacement the Unadjusted Benchmark Replacement component of which is not Term SOFR.
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“Trigger Date” means with respect to IPL, December 31, 2023 or any other date on which IPL shall require an additional Governmental Approval under federal law in order to obtain additional Extensions of Credit and perform its obligations under this Agreement.
“Type” has the meaning assigned to that term in Section 2.2(a).
“UK Financial Institution” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form time to time) promulgated by the United Kingdom Prudential 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” means the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution.
“Unadjusted Benchmark Replacement” means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.
“Unmatured Default” means an event that, with the giving of notice or lapse of time, or both, would constitute an Event of Default for the applicable Borrower.
“Unutilized Swingline Commitment” means, with respect to the Swingline Lender at any time, the Swingline Commitment at such time less the aggregate principal amount of all Swingline Advances that are outstanding at such time.
“USD LIBOR” means the London interbank offered rate for Dollars.
“U.S. Person” means any Person that is a “United States Person” as defined in Section 7701(a)(30) of the Code.
“U.S. Tax Compliance Certificate” has the meaning assigned to such term in Section 2.17(e).
“Utilities” means, collectively, WPL and IPL.
“Wells Fargo” has the meaning assigned to that term in the Preamble to this Agreement.
“Wells Fargo Fee Letter” means that certain letter agreement, dated November 18, 2021 between the Borrowers, Wells Fargo, and Wells Fargo Securities, LLC.
“WPL” means Wisconsin Power and Light Company, a Wisconsin corporation.
“WPL Event of Default” has the meaning assigned to that term in Section 6.1.  
“WPL Maximum Sublimit” means $500,000,000.
“WPL Minimum Sublimit” has the meaning set forth in Section 2.6(a).
“WPL Sublimit” means $300,000,000 as such amount may be adjusted pursuant to Section 2.6.
“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.
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Section 1.2Computation of Time Periods.  Unless otherwise indicated, each reference in this Agreement to a specific time of day is a reference to Charlotte, North Carolina time.  In the computation of periods of time under this Agreement, any period of a specified number of days or months shall be computed by including the first day or month occurring during such period and excluding the last such day or month.  In the case of a period of time “from” a specified date “to” or “until” a later specified date, the word “from” means “from and including” and the words “to” and “until” each means “to but excluding”.
Section 1.3Computations of Outstandings.  Whenever reference is made in this Agreement to the “principal amount outstanding” on any date under this Agreement, such reference shall refer to the aggregate principal amount of all Advances outstanding on such date after giving effect to all Advances to be made on such date and the application of the proceeds thereof.
Section 1.4Accounting Terms.  Except as otherwise expressly provided herein, all accounting terms used herein shall be interpreted, and all financial statements and certificates and reports as to financial matters required to be delivered to the Lenders hereunder shall be prepared, in accordance with GAAP as in effect from time to time applied on a consistent basis.  With respect to (and only with respect to) determining compliance with this Agreement, all calculations shall (except as otherwise expressly provided herein) be made by application of GAAP applied on a basis consistent with the most recent annual or quarterly financial statements delivered pursuant to Section 5.1(h) (or prior to the delivery of the first financial statements pursuant to Section 5.1(h), consistent with the financial statements described in Section 4.1(f)); provided, however, if (i) any Borrower shall object to determining such compliance on such basis at the time of delivery of such financial statements due to any change in GAAP or the rules promulgated with respect thereto or (ii) the Agent or the Majority Lenders shall so object in writing within thirty days after delivery of such financial statements, then such calculations shall be made on a basis consistent with the most recent financial statements delivered by such Borrower to the Lenders as to which no such objection shall have been made.  Notwithstanding any other provision contained herein, all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made, (i) without giving effect to any election under Accounting Standards Codification Section 825-10-25 (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value any Debt or other liabilities of any Borrower or its Subsidiaries at “fair value”, as defined therein and (ii) without giving effect to any treatment of Debt in respect of convertible debt instruments under Accounting Standards Codification 470-20 (or any other Accounting Standards Codification of Financial Accounting Standard having a similar result or effect) to value any such Debt in a reduced or bifurcated manner as described therein, and such Debt shall at all times be valued at the full stated principal amount thereof, in each case unless the Borrowers, the Agent and the Lenders shall enter into a mutually acceptable amendment addressing such changes.
Section 1.5Terms Generally.  The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined.  Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms.  The words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”.  The word “will” shall be construed to have the same meaning and effect as the word “shall”.  Unless the context requires otherwise (a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (b) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (c) the words “herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement, (e) any reference to any law or regulation herein shall, unless otherwise specified, refer to such law or regulation as amended, modified or supplemented from time to time, (f) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights and (g) any definition of or reference to any statute, rule or regulation shall be construed as referring thereto as from time to time amended, supplemented or otherwise modified (including by succession of comparable successor laws).
Section 1.6Divisions.  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.
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ARTICLE II
AMOUNTS AND TERMS OF THE EXTENSIONS OF CREDIT
Section 2.1The Advances.
(a)Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make advances (each, a “Revolving Advance” and collectively, the “Revolving Advances”) to each Borrower from time to time, during the period from and including the date hereof, to and up to, but excluding, the Termination Date, in an aggregate outstanding amount not to exceed at any time such Lender’s Available Commitment, provided that no Borrowing of Revolving Advances shall be made if, immediately after giving effect thereto (and to any concurrent repayment of Swingline Advances with proceeds of Revolving Advances made pursuant to such Borrowing), (i) the Outstanding Credits would exceed the Aggregate Commitments as reduced by an amount equal to the difference of (A) the Commitment of any Defaulting Lender minus (B) the principal amount of such Defaulting Lenders’ outstanding funded Outstanding Credits or (ii) the Outstanding Credits extended to any Borrower would exceed such Borrower’s Sublimit.  Each Borrowing shall be in an aggregate amount not less than $5,000,000 (or, if lower, the amount of the Aggregate Available Commitment) or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type made on the same day by the Lenders ratably according to their respective Percentages.  Within the limits of each Lender’s Commitment and as hereinabove and hereinafter provided, each Borrower may request Borrowings hereunder, and repay or prepay Revolving Advances pursuant to Section 2.12 and utilize the resulting increase in the Aggregate Available Commitment (subject to its Sublimit) for further Extensions of Credit in accordance with the terms hereof.
(b)The Swingline Lender agrees, on the terms and conditions hereinafter set forth, to make advances (each, a “Swingline Advance,” and collectively, the “Swingline Advances”) to each Borrower, during the period from and including the date hereof, to and up to, but excluding, the Swingline Termination Date (or, if earlier, the Termination Date), in an aggregate principal amount at any time outstanding not exceeding the Swingline Commitment.  Notwithstanding anything to the contrary herein, no Borrowing of Swingline Advances shall be made if, (i) immediately after giving effect thereto, the Outstanding Credits would exceed the Aggregate Commitment at such time (as reduced by an amount equal to the difference of (A) the Commitment of any Defaulting Lender minus (B) the principal amount of such Defaulting Lenders’ funded Outstanding Credits), (ii) the Outstanding Credits extended to any Borrower would exceed such Borrower’s Sublimit or (iii) any Lender is at such time a Designated Lender hereunder, unless the Swingline Lender has entered into satisfactory arrangements, including, without limitation, the posting of Cash Collateral, with the applicable Borrower or such Lender to eliminate the Swingline Lender’s Fronting Exposure (after giving effect to Section 2.22(a)(iv)) risk with respect to such Lender.
Section 2.2Making the Advances.
(a)The Revolving Advances (together with the Swingline Advances, a “Class” of Loan) shall, at the option of the applicable Borrower and subject to the terms and conditions of this Agreement, be either a Base Rate Advance or Eurodollar Rate Advance (each, a “Type” of Advance).  The Swingline Advances shall be made and maintained as LIBOR Market Index Rate Advances at all times.
(b)In order to make a Borrowing (other than (w) Borrowings of Swingline Advances, which shall be made pursuant to Section 2.2(c), (y) Borrowings for the purpose of repaying Refunded Swingline Advances, which shall be made pursuant to Section 2.2(d), or (z) conversions of outstanding Advances made pursuant to Section 2.11), the applicable Borrower will give the Agent written notice not later than 11:00 a.m. (i) on the third Business Day prior to the date of the proposed Borrowing, in the case of a Borrowing comprised of Eurodollar Rate Advances and (ii) not later than 10:00 a.m. on the date of the proposed Borrowing, in the case of a Borrowing comprised of Base Rate Advances.  Each such notice of a Borrowing (a “Notice of Borrowing”) shall be by facsimile or email (in accordance with procedures prescribed by the Agent), in substantially the form of Exhibit 2.2(b) hereto, specifying therein the requested (A) date of such Borrowing, (B) Type of Advances comprising such Borrowing, (C) aggregate amount of such Borrowing and (D) in the case of a Borrowing comprised of Eurodollar Rate Advances, the initial Interest Period for each such Advance.  Each Lender shall, before (x) 12:00 noon on the date of such Borrowing, in the case of a Borrowing comprised of Eurodollar Rate Advances, and (y) 1:00 p.m. on the date of such Borrowing, in the case of a Borrowing comprised of Base Rate Advances, make available for the account of its Applicable Lending Office to the Agent at its address referred to in Section 8.2, in same day funds, such Lender’s Percentage of such Borrowing.  After the Agent’s receipt of such funds and upon fulfillment of the applicable conditions set forth in Article 
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III, the Agent will promptly make such funds available to the applicable Borrower by means of a credit or wire transfer to the account specified in writing by such Borrower.
(c)In order to make a Borrowing of a Swingline Advance, the applicable Borrower will give the Agent (and the Swingline Lender, if the Swingline Lender is not also the Agent) written notice not later than 2:00 p.m. on the date of such Borrowing.  Each such notice of a Borrowing (a “Notice of Swingline Borrowing”) shall be by facsimile or email (in accordance with procedures prescribed by the Agent), in substantially the form of Exhibit 2.2(c) hereto, specifying therein the requested (A) date of such Borrowing, and (B) aggregate amount of such Swingline Advance to be made pursuant to such Borrowing (which shall not be less than $1,000,000 and, if greater, shall be in an integral multiple of $500,000 in excess thereof (or, if less, in the amount of the Unutilized Swingline Commitment)).  Not later than 4:00 p.m. on the date of such Borrowing, the Swingline Lender will make available for the account of its Applicable Lending Office to the Agent at its address referred to in Section 8.2, in same day funds, an amount equal to the amount of the requested Swingline Advance.  After the Agent’s receipt of such funds and upon fulfillment of the applicable conditions set forth in Article III, the Agent will promptly make such funds available to the applicable Borrower by means of a credit or wire transfer to the account specified in writing by such Borrower.
(d)With respect to any outstanding Swingline Advances, the Swingline Lender may at any time (whether or not any Unmatured Default or Event of Default has occurred and is continuing) in its sole and absolute discretion, and is hereby authorized and empowered by the applicable Borrower to, cause a Revolving Advance to be made for such Borrower for the purpose of repaying such Swingline Advances by delivering to the Agent (if the Agent is not also the Swingline Lender) and each other Lender (on behalf of, and with a copy to, the applicable Borrower), not later than 11:00 a.m. one Business Day prior to the proposed date of such Borrowing therefor, a notice (which shall be deemed to be a Notice of Borrowing given by the applicable Borrower) requesting the Lenders to make Revolving Advances (which shall be made initially as Base Rate Advances) on such date of Borrowing in an aggregate amount equal to the amount of such Swingline Advances (the “Refunded Swingline Advances”) outstanding on the date such notice is given that the Swingline Lender requests to be repaid.  Not later than 1:00 p.m. on the requested date of such Borrowing, each Lender (other than the Swingline Lender) will make available for the account of its Applicable Lending Office to the Agent at its address referred to in Section 8.2, in same day funds, such Lender’s Percentage of such Borrowing.  To the extent the Lenders have made such amounts available to the Agent as provided hereinabove, the Agent will make the aggregate of such amounts available to the Swingline Lender in like funds as received by the Agent, which shall apply such amounts in repayment of the Refunded Swingline Advances.  Notwithstanding any provision of this Agreement to the contrary, on the relevant date of such Borrowing, the Refunded Swingline Advances (including the Swingline Lender’s Percentage thereof, in its capacity as a Lender) shall be deemed to be repaid with the proceeds of the Revolving Advances made as provided above (including a Revolving Advance deemed to have been made by the Swingline Lender), and such Refunded Swingline Advances deemed to be so repaid shall no longer be outstanding as Swingline Advances but shall be outstanding as Revolving Advances.  If any portion of any such amount repaid (or deemed to be repaid) to the Swingline Lender shall be recovered by or on behalf of the applicable Borrower from the Swingline Lender in any bankruptcy, insolvency or similar proceeding or otherwise, the loss of the amount so recovered shall be shared ratably among all the Lenders in the manner contemplated by Section 2.18.
(e)If, as a result of any bankruptcy, insolvency or similar proceeding with respect to a Borrower, Revolving Advances are not made pursuant to Section 2.2(d) in an amount sufficient to repay any amounts owed to the Swingline Lender in respect of any outstanding Swingline Advances, or if the Swingline Lender is otherwise precluded for any reason from giving a notice on behalf of the applicable Borrower as provided for hereinabove, the Swingline Lender shall be deemed to have sold without recourse, representation or warranty (except for the absence of Liens thereon created, incurred or suffered to exist by, through or under the Swingline Lender), and each Lender shall be deemed to have purchased and hereby agrees to purchase, a participation in such outstanding Swingline Advances in an amount equal to its Percentage of the unpaid amount thereof together with accrued interest thereon.  Upon one Business Day’s prior notice from the Swingline Lender, each Lender (other than the Swingline Lender) will make available for the account of its Applicable Lending Office to the Agent at its address referred to in Section 8.2, in same day funds, such Lender’s respective participation.  To the extent the Lenders have made such amounts available to the Agent as provided hereinabove, the Agent will make the aggregate of such amounts available to the Swingline Lender in like funds as received by the Agent.  In the event any such Lender fails to make available to the Agent the amount of such Lender’s participation as provided in this Section 2.2(e), the Swingline Lender shall be entitled to recover such amount on demand from such Lender, together with interest thereon for each day from the date such amount is required to be made available for the account of the Swingline Lender until the date such amount is made available to the Swingline Lender at the Federal Funds Rate for the first three Business Days and thereafter at the Applicable Rate for Base Rate Advances.  Promptly following its receipt of any payment by or on behalf of the 
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applicable Borrower in respect of a Swingline Advance, the Swingline Lender will pay to each Lender that has acquired a participation therein such Lender’s ratable share of such payment.
(f)Notwithstanding any provision of this Agreement to the contrary, the obligation of each Lender (other than the Swingline Lender) to make Revolving Advances for the purpose of repaying any Refunded Swingline Advances pursuant to Section 2.2(d) and each such Lender’s obligation to purchase a participation in any unpaid Swingline Advances pursuant to Section 2.2(e) shall be absolute and unconditional and shall not be affected by any circumstance or event whatsoever, including, without limitation, (i) any set-off, counterclaim, recoupment, defense or other right that such Lender may have against the Swingline Lender, the Agent, any Borrower or any other Person for any reason whatsoever, (ii) the occurrence or continuance of any Unmatured Default or Event of Default, (iii) the failure of the amount of such Borrowing of Revolving Advances to meet the minimum Borrowing amount specified in Section 2.1(a), or (iv) the failure of any conditions set forth in Section 3.2 or elsewhere herein to be satisfied.
(g)Each Notice of Borrowing and Notice of Swingline Borrowing shall be irrevocable and binding on the applicable Borrower.  In the case of any Borrowing which the related Notice of Borrowing specifies is to be comprised of Eurodollar Rate Advances, the applicable Borrower shall severally (and not jointly with any other Borrower) indemnify each Lender against any loss, cost or expense incurred by such Lender as a result of any failure to fulfill on or before the date specified in such Notice of Borrowing for such Borrowing the applicable conditions set forth in Article III, including, without limitation, any loss, cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Lender to fund the Eurodollar Rate Advance to be made by such Lender as part of such Borrowing when such Advance, as a result of such failure, is not made on such date. 
Section 2.3Funding Reliance.
(a)Unless the Agent shall have received notice from a Lender prior to the time of any Borrowing that such Lender will not make available to the Agent such Lender’s Advance as part of such Borrowing, the Agent may assume that such Lender has made such Advance available to the Agent on the time of such Borrowing in accordance with Section 2.2 and the Agent may, in reliance upon such assumption, make available to the applicable Borrower on such time a corresponding amount.  If and to the extent that such Lender shall not have so made such Advance available to the Agent, such Lender and the affected Borrower severally agree to repay to the Agent forthwith on demand such corresponding amount, together with interest thereon, for each day from the time such amount is made available to such Borrower until the time such amount is repaid to the Agent, at (i) in the case of the affected Borrower, the interest rate applicable at the time to Advances comprising such Borrowing and (ii) in the case of such Lender, the Federal Funds Rate.  If such Lender shall repay to the Agent such corresponding amount, such amount so repaid shall constitute such Lender’s Advance as part of such Borrowing for purposes of this Agreement.
(b)The failure of any Lender to make the Advance to be made by it as part of any Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make its Advance on the date of such Borrowing, but no Lender shall be responsible for the failure of any other Lender to make the Advance to be made by such other Lender on the date of any Borrowing.
Section 2.4Letters of Credit. 
(a)Subject to the terms and conditions hereof, so long as no Unmatured Default or Event of Default with respect to the requesting Borrower has occurred and is continuing, each Letter of Credit shall be issued (or the stated maturity thereof extended or terms thereof modified or amended) on not less than two Business Days’ prior notice thereof by delivery of a Request for Issuance to the Agent and the applicable LC Issuing Bank substantially in the form attached hereto in Exhibit 2.4 accompanied by such documents and information pertaining to the requested Letter of Credit, including the LC Issuing Bank’s standard letter of credit application form, duly completed and signed, as the LC Issuing Bank may reasonably require.  Each Request for Issuance shall specify a statement of drawing conditions applicable to such Letter of Credit, and if such Request for Issuance relates to an amendment or modification of a Letter of Credit, it shall be accompanied by the consent of the beneficiary of the Letter of Credit thereto.  The expiry of such Letter of Credit shall be no later than the earlier of (i) five Business Days’ prior to the Termination Date and (ii) one year after its date of issuance; provided, however, that a Letter of Credit may, if requested by the applicable Borrower, provide by its terms, and on terms acceptable to the applicable LC Issuing Bank, for extension for successive periods of one year or less (but not beyond the date five Business Days prior to the applicable Termination Date), unless and until such LC Issuing Bank shall have delivered a notice of non-extension to the beneficiary of such Letter of Credit.  Each Request for Issuance shall be irrevocable unless modified or rescinded by the applicable Borrower not less than one day prior to the proposed date of issuance specified 
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therein.  Not later than 12:00 noon on the proposed date of issuance specified in such Request for Issuance, and upon fulfillment of the applicable conditions precedent and the other requirements set forth herein, the applicable LC Issuing Bank shall issue (or extend, amend or modify) such Letter of Credit and provide notice and a copy thereof to the Agent, which shall promptly furnish copies thereof to the Lenders.
(b)No Letter of Credit shall be requested or issued hereunder if, (i) after the issuance thereof, (A) the Outstanding Credits would exceed the Aggregate Commitments (as reduced by an amount equal to the difference of (x) the Commitment of any Defaulting Lender minus (y) the principal amount of such Defaulting Lenders’ funded Outstanding Credits), (B) the aggregate LC Outstandings would exceed the LC Sublimit, (C) the LC Outstandings with respect to Letters of Credit issued by any LC Issuing Bank would exceed the LC Commitment of such LC Issuing Bank, or (D) the Outstanding Credits extended to any Borrower would exceed such Borrower’s Sublimit, (ii) any Lender is at such time a Designated Lender hereunder, unless the applicable LC Issuing Bank has entered into satisfactory arrangements, including, without limitation, the posting of Cash Collateral, with the applicable Borrower or such Lender to eliminate such LC Issuing Bank’s Fronting Exposure with respect to such Lender or (iii) the Letter of Credit is to be denominated in a currency other than Dollars.
(c)Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the applicable LC Issuing Bank shall notify the applicable Borrower and the Agent thereof.  Not later than 12:00 noon on the date of any payment by the applicable LC Issuing Bank under a Letter of Credit, the applicable Borrower shall reimburse such LC Issuing Bank through the Agent in an amount equal to the amount of such drawing.  If such Borrower fails to so reimburse such LC Issuing Bank by such time, such Borrower hereby severally agrees to pay to the Agent for the account of the applicable LC Issuing Bank and, if they shall have purchased participations in the reimbursement obligations of such Borrower pursuant to Section 2.4(d), the Lenders, on demand made by the applicable LC Issuing Bank to such Borrower, on and after each date on which such LC Issuing Bank shall pay any amount under any Letter of Credit issued by such LC Issuing Bank, a sum equal to the amount so paid plus interest on such amount from the date so paid by such LC Issuing Bank until repayment to such LC Issuing Bank in full at a fluctuating interest rate per annum equal to the interest rate applicable to Base Rate Advances plus, if any amount paid by such LC Issuing Bank under a Letter of Credit is not reimbursed by such Borrower within three Business Days, 2%.
(d)Immediately upon the issuance of any Letter of Credit, the applicable LC Issuing Bank shall be deemed to have sold and transferred to each Lender, and each Lender shall be deemed irrevocably and unconditionally to have purchased and received from such LC Issuing Bank, without recourse or warranty, an undivided interest and participation, pro rata (based on such Lender’s Percentage), in such Letter of Credit, each drawing made thereunder and the obligations of the applicable Borrower under this Agreement with respect thereto (other than the fees payable by such Borrower to such LC Issuing Bank).  If the applicable LC Issuing Bank shall not have been reimbursed in full for any payment made by such LC Issuing Bank under a Letter of Credit issued by such LC Issuing Bank on the date of such payment, such LC Issuing Bank shall give the Agent and each Lender prompt notice thereof (an “LC Payment Notice”) no later than 12:00 noon on the Business Day immediately succeeding the date of such payment by such LC Issuing Bank.  Each Lender severally agrees, absolutely and unconditionally, to pay to the Agent for the account of the applicable LC Issuing Bank an amount equal to such Lender’s Percentage of such unreimbursed amount paid by such LC Issuing Bank, plus interest on such amount at a rate per annum equal to the Federal Funds Rate from the date of the payment by such LC Issuing Bank to the date of payment to such LC Issuing Bank by such Lender.  Each such payment by a Lender shall be made not later than 3:00 p.m. on the later to occur of (i) the Business Day immediately following the date of such payment by the applicable LC Issuing Bank and (ii) the Business Day on which such Lender shall have received an LC Payment Notice from such LC Issuing Bank.  Each Lender’s obligation to make each such payment to the Agent for the account of the applicable LC Issuing Bank shall be several and shall not be affected by the occurrence or continuance of an Unmatured Default or Event of Default or the failure of any other Lender to make any payment under this Section 2.4(d) or the failure of such LC Issuing Bank to provide the LC Payment Notice by 12:00 noon on the Business Day immediately succeeding the date of payment under a Letter of Credit by such LC Issuing Bank.  Upon any change in the Commitment or Percentage of any Lender, with respect to all outstanding Letters of Credit and reimbursement obligations there shall be an automatic adjustment to the participations pursuant to this Section 2.4(d) to reflect the new Percentages of the Lenders.
(e)The failure of any Lender to make any payment to the Agent for the account of the applicable LC Issuing Bank in accordance with Section 2.4(d) shall not relieve any other Lender of its obligation to make payment, but no Lender shall be responsible for the failure of any other Lender.  If any Lender (a “Non-Performing Lender”) shall fail to make any payment to the Agent for the account of the applicable LC Issuing Bank in accordance with Section 2.4(d) within five Business Days after the LC Payment Notice relating thereto, then, for so long as such 
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failure shall continue, such LC Issuing Bank shall be deemed, for purposes of Section 8.1 and Article VI hereof, to be a Lender owed a Borrowing in an amount equal to the outstanding principal amount due and payable by such Non-Performing Lender to the Agent for the account of such LC Issuing Bank pursuant to Section 2.4(d).  
(f)The payment obligations of each Lender under Section 2.4(d) and of each Borrower under this Agreement in respect of any payment under any Letter of Credit by any LC Issuing Bank shall be unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including, without limitation, the following circumstances:
(i)any lack of validity or enforceability of this Agreement, any other Loan Document or any other agreement or instrument relating thereto or to such Letter of Credit;
(ii)any amendment or waiver of, or any consent to departure from, the terms of this Agreement, any other Loan Document or such Letter of Credit;
(iii)the existence of any claim, set-off, defense or other right which such Borrower may have at any time against any beneficiary, or any transferee, of such Letter of Credit (or any Persons for whom any such beneficiary or any such transferee may be acting), any LC Issuing Bank, the Agent, any Lender or any other Person, whether in connection with this Agreement, the transactions contemplated hereby, thereby or by such Letter of Credit, or any unrelated transaction;
(iv)any statement or any other document presented under such Letter of Credit reasonably proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect;
(v)payment in good faith by any LC Issuing Bank under the Letter of Credit issued by such LC Issuing Bank against presentation of a draft or certificate that does not comply with the terms of such Letter of Credit; or
(vi)any other circumstance or happening whatsoever, whether or not similar to any of the foregoing.
(g)Each Borrower severally assumes all risks of the acts and omissions of any beneficiary or transferee of any Letter of Credit issued for its account.  Neither the LC Issuing Banks, the Lenders nor any of their Related Parties shall be liable or responsible for  (i) the use that may be made of such Letter of Credit or any acts or omissions of any beneficiary or transferee thereof in connection therewith; (ii) the validity, sufficiency or genuineness of documents, or of any endorsement thereon, even if such documents should prove to be in any or all respects invalid, insufficient, fraudulent or forged; (iii) payment by the applicable LC Issuing Bank against presentation of documents that do not comply with the terms of such Letter of Credit, including failure of any documents to bear any reference or adequate reference to such Letter of Credit; or (iv) any other circumstances whatsoever in making or failing to make payment under such Letter of Credit.  Notwithstanding any provision to the contrary contained in any Loan Document, each Borrower and each Lender shall have the right to bring suit against any LC Issuing Bank, and such LC Issuing Bank shall be liable to such Borrower and any Lender, to the extent of any direct, as opposed to consequential, damages suffered by such Borrower or such Lender which such Borrower or such Lender proves were caused by such LC Issuing Bank’s willful misconduct or gross negligence, including, in the case of such Borrower, such LC Issuing Bank’s willful failure to make timely payment under such Letter of Credit following the presentation to it by the beneficiary thereof of a draft and accompanying certificate(s) that strictly comply with the terms and conditions of such Letter of Credit.  In furtherance and not in limitation of the foregoing, each LC Issuing Bank may accept sight drafts and accompanying certificates presented under the Letter of Credit issued by such LC Issuing Bank that appear on their face to be in order, without responsibility for further investigation, regardless of any notice or information to the contrary, and payment against such documents shall not constitute willful misconduct or gross negligence by such LC Issuing Bank.  Notwithstanding the foregoing, no Lender shall be obligated to indemnify any Borrower for damages caused by any LC Issuing Bank’s willful misconduct or gross negligence.
(h)If any Letter of Credit contains a provision pursuant to which it is deemed to be automatically extended unless notice of non-extension of such Letter of Credit is given by the applicable LC Issuing Bank, such LC Issuing Bank shall timely give notice of non-extension if (i) as of close of business on the seventeenth day prior to the last day upon which such LC Issuing Bank’s notice of non-extension may be given to the beneficiaries of such Letter of Credit, such LC Issuing Bank has received a request to send a notice of non-extension from the applicable 
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Borrower or a notice from the Agent that the conditions to extend the expiration of such Letter of Credit have not been satisfied or (ii) the extended Letter of Credit would have a term not permitted by Section 2.4(a).
(i)If (i) as of the Termination Date, any Letter of Credit for any reason remains outstanding or (ii) at any time, the aggregate LC Outstandings with respect to any LC Issuing Bank shall exceed such LC Issuing Bank’s LC Commitment, the applicable Borrower shall (A) deliver to the Agent as Cash Collateral an amount in cash equal to the aggregate LC Outstandings (whether or not any beneficiary under any Letter of Credit shall have drawn or be entitled at such time to draw hereunder) or, in the case of clause (ii), an amount in cash equal to such excess or (B) shall make some other arrangements to provide credit support for such Letters of Credit reasonably satisfactory to the Agent and the applicable LC Issuing Bank.  The Agent shall deposit such cash in a special collateral account of such Borrower pursuant to arrangements satisfactory to the Agent (such account, the “Cash Collateral Account”) for the benefit of the Agent, the LC Issuing Banks and the Lenders.  Such Cash Collateral Account shall at all times be free and clear of all rights or claims of third parties.  The Cash Collateral Account shall be maintained with the Agent in the name of, and under the sole dominion and control of, the Agent, and amounts deposited in the Cash Collateral Account shall bear interest at a rate equal to the rate generally offered by Wells Fargo for deposits equal to the amount deposited by such Borrower in the Cash Collateral Account, for a term to be determined by the Agent, in its sole discretion.  Each Borrower hereby grants to the Agent for the benefit of the LC Issuing Banks and the Lenders a Lien in and hereby assigns to the Agent for the benefit of LC Issuing Banks and the Lenders all of its right, title and interest in, its Cash Collateral Account and all funds from time to time on deposit therein to secure its reimbursement obligations in respect of Letters of Credit issued for its account.  If any drawings then outstanding or thereafter made are not reimbursed in full immediately upon demand or, in the case of subsequent drawings, upon being made, then, in any such event, the Agent may apply the amounts then on deposit in the Cash Collateral Account, toward the payment in full of any of the obligations of such affected Borrower as and when such obligations shall become due and payable.  Any amounts remaining in the Cash Collateral Account (including interest) after the expiration of all Letters of Credit and reimbursement in full of the LC Issuing Banks for all of its obligations thereunder shall be held by the Agent, for the benefit of the applicable Borrower, to be applied against such Borrower’s Outstanding Credits, together with expenses related thereto and accrued interest thereon, in such order and manner as the Agent may direct.  If any Borrower is required to provide Cash Collateral in the case of clause (ii) above, such amount (including interest), to the extent not applied as aforesaid, shall be returned to such Borrower on demand, provided that after giving effect to such return (i) the aggregate Outstanding Credits to the affected Borrower would not exceed such Borrower’s Sublimit and the aggregate LC Outstandings with respect to any LC Issuing Bank shall not exceed such LC Issuing Bank’s LC Commitment, and (ii) no Unmatured Default or Event of Default with respect to such Borrower shall have occurred and be continuing at such time.
Section 2.5Fees.
(a)Each Borrower agrees to pay to Wells Fargo Securities, LLC and JPMorgan Chase Bank, N.A., for their own respective accounts, on the Closing Date, its Applicable Percentage (as defined in the Fee Letters) of the fees required under the Fee Letters to be paid to them on the Closing Date, in the amounts due and payable on such date as required by the terms thereof;
(b)Each Borrower agrees to pay to the Agent for the account of each Lender the Facility Fee, from the date hereof, in the case of each Bank, and from the effective date specified in the Lender Assignment pursuant to which it became a Lender, in the case of each other Lender, until the later of the Termination Date and the date all Outstanding Credits are paid in full, payable quarterly in arrears on the last Business Day of each March, June, September and December during the term of such Lender’s Commitment, commencing December 31, 2021, and on the later of the Termination Date and the date all Outstanding Credits are paid in full; provided, however, that any Defaulting Lender shall only be entitled to a Facility Fee as provided in Section 2.22(a)(iii).
(c)Each Borrower shall pay to the Agent for the account of each Lender a fee (the “LC Fee”) on the average daily amount of the sum of the undrawn stated amounts of all Letters of Credit outstanding on each such day issued for the account of such Borrower, from the date hereof until the later to occur of the Termination Date and the date on which no Letters of Credit are outstanding, payable on the last Business Day of each March, June, September and December (commencing December 31, 2021) and such later date, at a rate equal at all times to the Applicable Margin for such Borrower in effect from time to time for Eurodollar Rate Advances; provided, however, that any LC Fee otherwise payable for the account of a Designated Lender with respect to any Letter of Credit as to which such Designated Lender has not provided Cash Collateral satisfactory to the LC Issuing Banks pursuant to Section 2.22(c) shall be payable, to the maximum extent permitted by applicable law, to the Lenders in accordance with the upward adjustments of their respective Percentages allocable to such Letter of Credit pursuant to Section 2.22(a)(iv), 
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with the balance of such fee, if any, payable to the applicable LC Issuing Bank for its own account.  In addition, each Borrower shall pay to each LC Issuing Bank such fees for the issuance and maintenance of Letters of Credit issued by such LC Issuing Bank for the account of such Borrower and for drawings thereunder as may be separately agreed between such Borrower and such LC Issuing Bank.
(d)Each Borrower shall pay to the Agent, for its own account, its Applicable Percentage (as defined in the Fee Letters) of the fees in the amounts and at the times provided for in the Fee Letters.
(e)Each Borrower shall pay to each LC Issuing Bank, for its own account, a fronting fee with respect to each Letter of Credit issued by such LC Issuing Bank for the account of such Borrower, at the rate per annum specified, in the case of Wells Fargo and JPMorgan Chase Bank, N.A., in the Fee Letters, and, in the case of any other LC Issuing Bank, as separately agreed between the Borrowers and such LC Issuing Bank.  The fronting fee will be calculated on the average daily amount of the sum of the undrawn stated amounts of all Letters of Credit outstanding issued by such LC Issuing Bank for the account of such Borrower in respect of the most recently-ended quarterly period, from the date hereof until the later to occur of the Termination Date and the date on which no Letters of Credit are outstanding, payable on the last Business Day of each March, June, September and December (commencing December 31, 2021).  
Section 2.6Changes in the Commitments and Sublimits.
(a)The Borrowers shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole or reduce ratably in part the unused portions of the Aggregate Commitment; provided that the Aggregate Commitment shall not be reduced to an amount which is less than the aggregate principal amount of the Outstanding Credits; and provided, further, that each partial reduction shall be in a minimum amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof.  Any such reduction shall have the effect of reducing each Borrower’s Sublimit in a pro rata amount; provided that the WPL Sublimit shall not be reduced to an amount less than $300,000,000 (the “WPL Minimum Sublimit”).  Any reduction of the Aggregate Commitment pursuant to this Section 2.6(a) that has the effect of reducing the Aggregate Commitment to an amount less than the amount of the Swingline Commitment, the LC Commitment or the aggregate amount of the Borrowers’ Sublimits at such time shall result in an automatic corresponding reduction of the Swingline Commitment, the LC Commitment or the aggregate amount of the Borrowers’ Sublimits (subject to the WPL Minimum Sublimit), as the case may be, to the amount of the Aggregate Commitment (as so reduced), without any further action on the part of the Borrowers, the Swingline Lender or any other Bank.
(b)On the Termination Date, the Aggregate Commitment shall be automatically reduced to zero.  In addition, for IPL, upon the occurrence of a Trigger Date for such Borrower if such Borrower has not received all Governmental Approvals required to be obtained in order to request Extensions of Credit under this Agreement, then such Borrower’s Sublimit shall be automatically reduced to zero.
(c)Any termination or reduction of the Aggregate Commitment under this Section 2.6 shall be irrevocable, and the Aggregate Commitment shall not thereafter be reinstated.
(d)On any date prior to the Termination Date, the Borrowers may on one or more occasions increase the Aggregate Commitment (any such increase, a “Commitment Increase”) by an amount not less than $25,000,000, or, if greater, an integral multiple of $1,000,000 in excess thereof by designating either one or more of the existing Lenders (each of which, in its sole discretion, may determine whether and to what degree it may participate in such Commitment Increase) and/or one or more other Eligible Assignees reasonably acceptable to the Agent that at the time agree, in the case of any such existing Lender, to increase its Commitment (an “Increasing Lender”) and, in the case of any such Eligible Assignee (an “Additional Lender”), to become a party to this Agreement; provided that after giving effect to any such increase, the Aggregate Commitment shall not exceed $1,300,000,000 and the aggregate amount of all Commitment Increases shall not exceed $300,000,000.
(i)The sum of the increases in the Commitments of the Increasing Lenders pursuant to this Section 2.6(d) plus the Commitments of the Additional Lenders upon giving effect to the Commitment Increase shall not in the aggregate exceed the amount of the Commitment Increase.  The Borrowers shall provide prompt notice of any proposed Commitment Increase pursuant to this Section 2.6(d) to the Agent, which shall promptly provide a copy of such notice to the Lenders;
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(ii)Any Commitment Increase shall become effective upon (A) the receipt by the Agent of (1) an agreement in form and substance satisfactory to the Agent signed by each Borrower, each Increasing Lender and each Additional Lender, setting forth the new Commitment of each such Lender and setting forth the agreement of each Additional Lender to become a party to this Agreement and to be bound by all the terms and provisions hereof binding upon each Lender, and (2) certified copies of the Commitment Increase Approvals and such opinions of counsel for the Borrowers with respect to the Commitment Increase as the Agent may reasonably request, (B) the funding by each Lender of the Advance(s) to be made by each such Lender described in paragraph (iii) below and (C) receipt by the Agent of a certificate (the statements contained in which shall be true) of a duly authorized officer of each Borrower stating that both before and after giving effect to such Commitment Increase (1) no Unmatured Default or Event of Default has occurred and is continuing with respect to such Borrower, (2) all representations and warranties made by such Borrower in this Agreement are true and correct in all material respects, or if any such representation is qualified as to materiality, true and correct in all respects, and (3) all Commitment Increase Approvals have been obtained and are in full force and effect.
(iii)Upon the effective date of any Commitment Increase, to the extent necessary to keep the outstanding Advances ratable in the event of any non-ratable increase in Aggregate Commitment, (A) all then outstanding Eurodollar Rate Advances (the “Initial Advances”) shall automatically be Converted into Base Rate Advances, (B) immediately after the effectiveness of the Commitment Increase, the Borrowers shall, if they so request, Convert such Base Rate Advances into Eurodollar Rate Advances (the “Subsequent Advances”) in an aggregate principal amount equal to the aggregate principal amount of the Initial Advances and of the Types and for the Interest Periods specified in a Notice of Conversion delivered to the Agent in accordance with Section 2.11, (C) each Lender shall pay to the Agent in immediately available funds an amount equal to the difference, if positive, between (y) such Lender’s Percentage (calculated after giving effect to the Commitment Increase) of the Subsequent Advances and (z) such Lender’s Percentage (calculated without giving effect to the Commitment Increase) of the Initial Advances, (D) after the Agent receives the funds specified in clause (C) above, the Agent shall pay to each Lender the portion of such funds equal to the difference, if positive, between (y) such Lender’s Percentage (calculated without giving effect to the Commitment Increase) of the Initial Advances and (z) such Lender’s Percentage (calculated after giving effect to the Commitment Increase) of the amount of the Subsequent Advances, (E) the Lenders shall be deemed to hold the Subsequent Advances ratably in accordance with their respective Commitment (calculated after giving effect to the Commitment Increase), (F) each Borrower shall pay all accrued but unpaid interest on the Initial Advances made to it to the Lenders entitled thereto, and (G) Schedule I shall automatically be amended to reflect the Commitments of all Lenders after giving effect to the Commitment Increase.  The conversion of the Initial Advances pursuant to clause (A) above shall be subject to indemnification by the Borrowers pursuant to the provisions of Section 8.4(d) if the date of any Commitment Increase occurs other than on the last day of the Interest Period relating thereto.
(iv)Notwithstanding any provision contained herein to the contrary, from and after the date of any Commitment Increase and the making of any Advances on such date pursuant to this Section 2.6(d), all calculations and payments of the Facility Fee and the LC Fee and of interest on the Advances shall take into account the actual Commitment of each Lender and such Lender’s Percentage of the Outstanding Credits during the relevant period of time.
(e)So long as no Event of Default exists with respect to any Borrower and all of the representations and warranties of the Borrowers in this Agreement and/or in any other Loan Document (A) that are qualified by materiality or Material Adverse Effect shall be true and correct as so qualified, and (B) that are not qualified by materiality or Material Adverse Effect shall be true and correct in all material respects; in each case on and as of the date of a Sublimit Adjustment Letter with the same effect as if made on such date (or, if any such representation and warranty is expressly stated to have been made as of a specific date, as of such specific date), the Borrowers may, upon not less than three Business Days’ notice to the Agent pursuant to a Sublimit Adjustment Letter, reallocate amounts of the Aggregate Commitment among the respective Sublimits of the Borrowers (i.e., reduce the Sublimits of one or more Borrowers and increase the Sublimits of one or more other Borrowers by the same aggregate amount); provided that (i) a Borrower’s Sublimit may not be reduced to an amount less than the sum of the Outstanding Credits made to such Borrower, (ii) the WPL Sublimit may not be reduced to an amount less than the WPL Minimum Sublimit, (iii) the sum of the Sublimits of the respective Borrowers shall at all times equal the amount of the Aggregate Commitment, (iv) a Borrower’s Sublimit may not be increased to an amount in excess of such Borrower’s Maximum Sublimit, and (v) any such increase in a Borrower’s Sublimit shall be accompanied or preceded by evidence reasonably satisfactory to the Agent as to appropriate corporate and governmental authorization therefor.
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Section 2.7Repayment of Advances. 
(a)Except to the extent due or paid sooner pursuant to the provisions of this Agreement, each Borrower shall repay to the Lenders the aggregate outstanding principal amount of each Revolving Advance made to it on the Termination Date.
(b)Except to the extent due or paid sooner pursuant to the provisions of this Agreement, each Borrower shall repay to the Swingline Lender the aggregate outstanding principal amount of each Swingline Advance made to it on the earlier to occur of (i) fourteen days after the date of Borrowing of each such Swingline Advance, and (ii) the Swingline Termination Date.
(c)If for any reason the Outstanding Credits at any time exceed the Aggregate Commitments then in effect, each Borrower shall immediately prepay its Advances and/or Cash Collateralize its LC Outstandings in an aggregate amount equal to such excess; provided, however, that no Borrower shall be required to Cash Collateralize its LC Outstandings pursuant to this Section 2.7(c) unless after the prepayment in full of the Advances the Outstanding Credits exceed the Aggregate Commitments then in effect.
Section 2.8Interest on Advances.  Each Borrower shall pay interest on the unpaid principal amount of each Advance made to such Borrower owing to each Lender from the date of such Advance until such principal amount shall be paid in full, at the Applicable Rate with respect to such Borrower for such Advance (except as otherwise provided in this Section 2.8), payable as follows:
(a)If such Advance is a Base Rate Advance, interest thereon shall be payable quarterly in arrears on the last day of each March, June, September and December, on the date of any Conversion of such Base Rate Advance and on the date such Base Rate Advance shall become due and payable or shall otherwise be paid in full; provided that at any time an Event of Default shall have occurred and be continuing with respect to such Borrower, each Base Rate Advance made to such Borrower shall bear interest payable on demand, at a rate per annum equal at all times to the Default Rate.
(b)If such Advance is a Eurodollar Rate Advance, interest thereon shall be payable on the last day of such Interest Period and, if the Interest Period for such Advance has a duration of more than three months, on that day of each third month during such Interest Period that corresponds to the first day of such Interest Period (or, if any such month does not have a corresponding day, then on the last day of such month); provided that at any time an Event of Default shall have occurred and be continuing with respect to such Borrower, each Eurodollar Rate Advance made to such Borrower shall bear interest payable on demand, at a rate per annum equal at all times to the Default Rate.
(c)If such Advance is a LIBOR Market Index Rate Advance, interest thereon shall be payable in arrears on the last day of each March, June, September and December, and on the date such LIBOR Market Index Rate Advance shall become due and payable or shall otherwise be paid in full; provided that at any time an Event of Default shall have occurred and be continuing with respect to such Borrower, each LIBOR Market Index Rate Advance made to such Borrower shall bear interest payable on demand, at a rate per annum equal at all times to the Default Rate.
(d)In respect of any Advance, interest thereon shall be payable at the Applicable Rate at maturity (whether pursuant to acceleration or otherwise) and, after maturity, on demand.
(e)Nothing contained in this Agreement or in any other Loan Document shall be deemed to establish or require the payment of interest to any Lender at a rate in excess of the maximum rate permitted by applicable law.  If the amount of interest payable for the account of any Lender on any interest payment date would exceed the maximum amount permitted by applicable law to be charged by such Lender, the amount of interest payable for its account on such interest payment date shall be automatically reduced to such maximum permissible amount.  In the event of any such reduction affecting any Lender, if from time to time thereafter the amount of interest payable for the account of such Lender on any interest payment date would be less than the maximum amount permitted by applicable law to be charged by such Lender, then the amount of interest payable for its account on such subsequent interest payment date shall be automatically increased to such maximum permissible amount, provided that at no time shall the aggregate amount by which interest paid for the account of any Lender has been increased pursuant to this sentence exceed the aggregate amount by which interest paid for its account has theretofore been reduced pursuant to the previous sentence. 
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Section 2.9Additional Interest on Eurodollar Rate Advances.  Each Borrower shall pay to Agent for the account of each Lender any costs actually incurred by such Lender with respect to Eurodollar Rate Advances made to such Borrower that are attributable to such Lender’s compliance with regulations of the Board of Governors of the Federal Reserve System requiring the maintenance of reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities.  Such costs shall be paid to the Agent for the account of such Lender in the form of additional interest on the unpaid principal amount of each Eurodollar Rate Advance made to such Borrower by such Lender, from the date of such Advance until such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the Eurodollar Rate for the Interest Period for such Advance from (ii) the rate obtained by dividing such Eurodollar Rate by a percentage equal to 100% minus the Eurodollar Reserve Percentage of such Lender for such Interest Period, payable on each date on which interest is payable on such Advance.  Such additional interest shall be determined by such Lender and notified to such Borrower through the Agent.  A certificate as to the amount of such additional interest, submitted to such Borrower and the Agent by such Lender, shall be conclusive and binding for all purposes, absent manifest error, provided that the determination thereof shall have been made by such Lender in good faith.
Section 2.10Interest Rate Determination.
(a)The Agent shall give prompt notice to the applicable Borrower and the Lenders of the applicable interest rate determined by the Agent for purposes of Section 2.8(a), Section 2.8(b) or Section 2.8(c).
(b)If, on or prior to the first day of any Interest Period, (y) the Agent shall have determined that adequate and reasonable means do not exist for ascertaining the applicable Eurodollar Rate for such Interest Period or (z) the Agent shall have received written notice from the Majority Lenders of their determination that the rate of interest referred to in the definition of “Eurodollar Rate” will not adequately and fairly reflect the cost to such Lenders of making or maintaining Eurodollar Rate Advances during such Interest Period, the Agent will forthwith so notify the applicable Borrower and the Lenders.  Upon such notice, (i) each Eurodollar Rate Advance made to such Borrower will automatically, on the last day of the then existing Interest Period therefor, Convert into a Base Rate Advance, (ii) the obligation of the Lenders to make, to Convert Advances into, or to continue, Eurodollar Rate Advances to such Borrower shall be suspended (including pursuant to the Borrowing to which such Interest Period applies), and (iii) any Notice of Borrowing or Notice of Conversion given at any time thereafter by such Borrower with respect to Eurodollar Rate Advances shall be deemed to be a request for Base Rate Advances, in each case until the Agent or the Majority Lenders, as the case may be, shall have determined that the circumstances giving rise to such suspension no longer exist (and the Majority Lenders, if making such determination, shall have so notified the Agent), and the Agent shall have so notified the applicable Borrower and the Lenders.
(c)If a Borrower shall fail to (i) select the duration of any Interest Period for any Eurodollar Rate Advance requested by such Borrower in accordance with the provisions contained in the definition of “Interest Period” in Section 1.1 or (ii) provide a Notice of Conversion with respect to any Eurodollar Rate Advance made to such Borrower on or prior to 12:00 noon on the third Business Day prior to the last day of the Interest Period applicable thereto, the Agent will forthwith so notify such Borrower and the Lenders and such Advance will automatically, on the last day of the then existing Interest Period therefor, Convert into a Base Rate Advance.
(d)On the date on which the aggregate unpaid principal amount of Advances made to a Borrower comprising any Borrowing shall be reduced, by payment or prepayment or otherwise, to less than the product of (i) $1,000,000 and (ii) the number of Lenders on such date, such Advances shall, if they are Advances of a Type other than Base Rate Advances, automatically Convert into Base Rate Advances, and on and after such date the right of such Borrower to Convert such Advances into Advances of a Type other than Base Rate Advances shall terminate; provided, however, that if and so long as each such Advance shall be of the same Type and have the same Interest Period as Advances comprising another Borrowing or other Borrowings of such Borrower, and the aggregate unpaid principal amount of all such Advances shall equal or exceed the product of (i) $1,000,000 and (ii) the number of Lenders on such date, such Borrower shall have the right to continue all such Advances as, or to Convert all such Advances into, Advances of such Type having such Interest Period.
(e)Upon the occurrence and during the continuance of any Event of Default with respect to a Borrower, each outstanding Eurodollar Rate Advance made to such Borrower shall automatically Convert into a Base Rate Advance at the end of the Interest Period then in effect for such Eurodollar Rate Advance.
Section 2.11Voluntary Conversion of Advances.  Subject to the conditions set forth below, each Borrower may, on any Business Day, by delivering a notice of Conversion (a “Notice of Conversion”) to the Agent 
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not later than 12:00 noon (i) on the third Business Day prior to the date of the proposed Conversion, in the case of a Conversion to or in respect of Eurodollar Rate Advances and (ii) on the date of the proposed Conversion, in the case of a Conversion to or in respect of Base Rate Advances, and subject to the provisions of Section 2.10 and Section 2.14(a), Convert all Advances of one Type made to such Borrower comprising the same Borrowing into Advances of another Type; provided, however, that, (x) any such Conversion shall involve an aggregate principal amount of not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) in the case of any Conversion of any Eurodollar Rate Advances into Base Rate Advances on a day other than the last day of an Interest Period for such Eurodollar Rate Advances, such Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.4(d).  Each such Notice of Conversion shall be in substantially the form of Exhibit 2.11 and shall, within the restrictions specified above, specify (A) the date of such Conversion, (B) the Advances to be Converted, (C) if such Conversion is into Eurodollar Rate Advances, the duration of the Interest Period for each such Advance, and (D) the aggregate amount of Advances proposed to be Converted.  Notwithstanding the foregoing, no Borrower may Convert Base Rate Advances into Eurodollar Rate Advances or select a new Interest Period for Eurodollar Rate Advances at any time an Unmatured Default or Event of Default has occurred and is continuing with respect to such Borrower.
Section 2.12Optional Prepayments of Advances.  Each Borrower may, upon at least three Business Days’ notice to the Agent stating the proposed date and aggregate principal amount of the prepayment, and if such notice is given, such Borrower shall prepay for the ratable account of the Lenders the outstanding principal amounts of the Advances made to such Borrower comprising part of the same Borrowing in whole or ratably in part, without premium or penalty, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that each partial prepayment shall be in an aggregate principal amount not less than $5,000,000 (or, if lower, the entire principal amount outstanding hereunder on the date of such prepayment) or an integral multiple of $1,000,000 in excess thereof.  In the case of any such prepayment of a Eurodollar Rate Advance, the applicable Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.4(d).  Except as provided in this Section 2.12, no Borrower shall have the right to prepay any principal amount of any Advances.
Section 2.13Increased Costs.
(a)If any Change in Law shall:
(i)impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any Eurodollar Reserve Percentage) or any LC Issuing Bank;
(ii)subject any Recipient to any Taxes (other than Taxes and Other Taxes for which the applicable Borrower has agreed to indemnify such Lender pursuant to Section 2.17(c) or Section 8.4) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; or
(iii)impose on any Lender or any LC Issuing Bank or the London interbank market any other condition, cost or expense (other than Taxes and any cost or expense for which the applicable Borrower has agreed to indemnify such Lender pursuant to Section 8.4) affecting this Agreement or Advances made by such Lender or any Letter of Credit or participation therein; 
and, to the extent that a Lender, a LC Issuing Bank or other Recipient reasonably determines that the direct result of any of the foregoing shall be to increase the cost to such Lender or such other Recipient of making, Converting to, continuing or maintaining any Advance or of maintaining its obligation to make any such Advance, or to increase the cost to such Lender, such LC Issuing Bank or such other Recipient of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender, Swingline Lender, LC Issuing Bank or other Recipient hereunder (whether of principal, interest or any other amount) then, upon request of such Lender, Swingline Lender, LC Issuing Bank or other Recipient, the applicable Borrower will pay to such Lender, Swingline Lender, LC Issuing Bank or other Recipient, as the case may be, such additional amount or amounts as will compensate such Lender, Swingline Lender, LC Issuing Bank or other Recipient, as the case may be, for such additional costs incurred or reduction suffered.
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(b)If any Lender, the Swingline Lender or any LC Issuing Bank determines that any Change in Law affects or would affect the amount of capital or liquidity required or expected to be maintained by such Lender, the Swingline Lender or such LC Issuing Bank or any corporation controlling such Lender, the Swingline Lender or such LC Issuing Bank and that the amount of such capital or liquidity is increased as a direct result of the existence of this Agreement, such Lender’s Commitment or Advances made by such Lender or participations in Letters of Credit or Swingline Advances hereunder held by such Lender or the Letters of Credit issued by any LC Issuing Bank, to a level below that which such Lender, the Swingline Lender or such LC Issuing Bank or any corporation controlling such Lender, the Swingline Lender or LC Issuing Bank could have achieved but for such Change in Law (taking into consideration such Lender’s, Swingline Lender’s or such LC Issuing Bank’s policies and the policies of such Lender’s or LC Issuing Bank’s holding company with respect to capital adequacy and liquidity), then, upon demand by such Lender, the Swingline Lender or such LC Issuing Bank (with a copy of such demand to the Agent), the applicable Borrower shall immediately pay to the Agent for the account of such Lender, the Swingline Lender or such LC Issuing Bank, from time to time as specified by such Lender, the Swingline Lender or such LC Issuing Bank, additional amounts sufficient to compensate such Lender, the Swingline Lender or LC Issuing Bank or such corporation in the light of such circumstances, to the extent that such Lender, the Swingline Lender or such LC Issuing Bank reasonably determines such increase in capital or liquidity to be allocable to the existence of such Lender’s Commitment, the Swingline Lender’s obligations hereunder or such LC Issuing Bank’s obligations hereunder.  
(c)A certificate of a Lender, the Swingline Lender or a LC Issuing Bank setting forth the amount or amounts necessary to compensate such Lender, the Swingline Lender or such LC Issuing Bank or any corporation controlling such Lender, the Swingline Lender or such LC Issuing Bank, as the case may be, as specified in paragraph (a) or (b) of this Section 2.13 and delivered to the applicable Borrower, shall certify in reasonable detail as to the increased cost for which it is seeking compensation hereunder and shall be conclusive absent manifest error; provided that the determination thereof shall have been made by such Lender, the Swingline Lender or such LC Issuing Bank in good faith.  Such Borrower shall pay such Lender, the Swingline Lender or such LC Issuing Bank, as the case may be, the amount shown as due on any such certificate within 10 days after receipt thereof.
(d)Failure or delay on the part of any Lender, the Swingline Lender or such LC Issuing Bank to demand compensation pursuant to this Section shall not constitute a waiver of such Lender’s, the Swingline Lender’s or such LC Issuing Bank’s right to demand such compensation; provided, no Lender, the Swingline Lender or any LC Issuing Bank shall be entitled to demand compensation or be compensated thereunder to the extent that such compensation relates to any period of time more than ninety days prior to the date upon which such Lender, the Swingline Lender or such LC Issuing Bank first notified the applicable Borrower of the occurrence of the event entitling such Lender, the Swingline Lender or such LC Issuing Bank to such compensation (unless, and to the extent, that any such compensation so demanded shall relate to the retroactive application of any event so notified to such Borrower, then the ninety-day period referred to in the previous proviso shall be extended to include the period of retroactive effect thereof).
Section 2.14Changed Circumstances.
(a)Illegality.  Notwithstanding any other provision of this Agreement to the contrary, if at any time after the date hereof and from time to time, any Lender (the “Affected Lender”) shall notify the Agent and the Borrowers that any Change in Law makes it unlawful or any Governmental Authority asserts that it is unlawful, for the Affected Lender or its Eurodollar Lending Office to perform its obligations hereunder to make Eurodollar Rate Advances or to fund or maintain Eurodollar Rate Advances hereunder, following such notice from the Affected Lender, (i) all Eurodollar Rate Advances of the Affected Lender shall, on the expiration date of the respective Interest Period applicable thereto (or, to the extent any such Eurodollar Rate Advance may not lawfully be maintained as a Eurodollar Rate Advance until such expiration date, upon such notice) automatically be Converted into Base Rate Advances (each such Advance, as so Converted, being an “Affected Lender Advance”), (ii) the obligation of the Affected Lender to make, maintain, or Convert Advances into Eurodollar Rate Advances shall thereupon be suspended, and (iii) any Notice of Borrowing or Notice of Conversion given at any time thereafter with respect to Eurodollar Rate Advances shall, as to the Affected Lender, be deemed a request for Base Rate Advances, in each case until the Affected Lender shall have determined that the circumstances causing such suspension no longer exist and shall have so notified the Agent, or the Affected Lender has been replaced pursuant to Section 2.21(a) and, in either case the Agent shall have notified the Borrowers and the other Lenders.  For purposes of any prepayment under this Agreement, each Affected Lender Advance shall be deemed to continue to be part of the same Borrowing as the Eurodollar Rate Advances to which it corresponded at the time of the Conversion of such Affected Lender Advance pursuant to this Section 2.14.
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(b)Benchmark Replacement Setting.
(i)Benchmark Replacement. 
(A)Notwithstanding anything to the contrary herein or in any other Loan Document if a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any setting of the then-current Benchmark, then (x) if a Benchmark Replacement is determined in accordance with clause (a)(1) or (a)(2) of the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of such Benchmark setting and subsequent Benchmark settings without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document and (y) if a Benchmark Replacement is determined in accordance with clause (a)(3) of the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of any Benchmark setting at or after 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the Lenders without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document so long as the Agent has not received, by such time, written notice of objection to such Benchmark Replacement from Lenders comprising the Required Lenders.  If an Unadjusted Benchmark Replacement is Daily Simple SOFR, all interest payments will be payable on a quarterly basis.
(B)Notwithstanding anything to the contrary herein or in any other Loan Document, if a Term SOFR Transition Event and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any setting of the then-current Benchmark, then the applicable Benchmark Replacement will replace the then-current Benchmark for all purposes hereunder or under any Loan Document in respect of such Benchmark setting and subsequent Benchmark settings, without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document; provided that this clause (B) shall not be effective unless the Agent has delivered to the Lenders and the Borrower a Term SOFR Notice.  For the avoidance of doubt, the Agent shall not be required to deliver a Term SOFR Notice after a Term SOFR Transition Event and may elect or not elect to do so in its sole discretion.
(ii)Benchmark Replacement Conforming Changes. In connection with the implementation of a Benchmark Replacement, the Agent will have the right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Benchmark Replacement Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document.
(iii)Notices; Standards for Decisions and Determinations. The Agent will promptly notify the Borrower and the Lenders of (A) any occurrence of a Benchmark Transition Event, a Term SOFR Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date, (B) the implementation of any Benchmark Replacement, (C) the effectiveness of any Benchmark Replacement Conforming Changes, (D) the removal or reinstatement of any tenor of a Benchmark pursuant to Section 2.14(b)(iv) below and (E) the commencement or conclusion of any Benchmark Unavailability Period.  Any determination, decision or election that may be made by the Agent or, if applicable, any Lender (or group of Lenders) pursuant to this Section 2.14(b), including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent from any other party to this Agreement or any other Loan Document, except, in each case, as expressly required pursuant to this Section 2.14(b).
(iv)Unavailability of Tenor of Benchmark.  Notwithstanding anything to the contrary herein or in any other Loan Document, at any time (including in connection with the implementation of a Benchmark Replacement), (A) if the then-current Benchmark is a term rate (including Term SOFR or USD LIBOR) and either (1) any tenor for such Benchmark is not displayed on a screen or other information service that publishes such rate from time to time as selected by the Agent in its reasonable discretion or (2) the 
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regulatory supervisor for the administrator of such Benchmark has provided a public statement or publication of information announcing that any tenor for such Benchmark is or will be no longer representative, then the Agent may modify the definition of “Interest Period” for any Benchmark settings at or after such time to remove such unavailable or non-representative tenor and (B) if a tenor that was removed pursuant to clause (A) above either (1) is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (2) is not, or is no longer, subject to an announcement that it is or will no longer be representative for a Benchmark (including a Benchmark Replacement), then the Agent may modify the definition of “Interest Period” for all Benchmark settings at or after such time to reinstate such previously removed tenor.
(v)Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any request for a borrowing of, conversion to or continuation of Eurodollar Rate Advance to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a borrowing of or conversion to Base Rate Advance. During any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate. 
(vi)London Interbank Offered Rate Benchmark Transition Event.  On March 5, 2021, the IBA, the administrator of the London interbank offered rate, and the FCA, the regulatory supervisor of the IBA, made the Announcements that the final publication or representativeness date for Dollars for (I) 1-week and 2-month London interbank offered rate tenor settings will be December 31, 2021 and (II) overnight, 1-month, 3-month, 6-month and 12-month London interbank offered rate tenor settings will be June 30, 2023.  No successor administrator for the IBA was identified in such Announcements.  The parties hereto agree and acknowledge that the Announcements resulted in the occurrence of a Benchmark Transition Event with respect to the London interbank offered rate pursuant to the terms of this Agreement and that any obligation of the Agent to notify any parties of such Benchmark Transition Event pursuant to clause (iii) of this Section 2.14(b) shall be deemed satisfied.
Section 2.15Payments and Computations.
(a)Each Borrower shall make each payment hereunder not later than 1:00 p.m. on the day when due in Dollars to the Agent at its address referred to in Section 8.2 in same day funds.  The Agent will promptly thereafter cause to be distributed like funds relating to the payment of principal or interest or fees ratably (other than amounts payable pursuant to Section 2.17, Section 2.19 or Section 8.4(d)) to the Lenders for the account of their respective Applicable Lending Offices, and like funds relating to the payment of any other amount payable to any Lender to such Lender for the account of its Applicable Lending Office, in each case to be applied in accordance with the terms of this Agreement.  Upon its acceptance of a Lender Assignment and recording of the information contained therein in the Register pursuant to Section 8.7(b), from and after the effective date specified in such Lender Assignment, the Agent shall make all payments hereunder in respect of the interest assigned thereby to the Lender assignee thereunder, and the parties to such Lender Assignment shall make all appropriate adjustments in such payments for periods prior to such effective date directly between themselves.  All payments to be made by such Borrower shall be made without condition or deduction for any counterclaim, defense, recoupment or setoff.
(b)Each Borrower hereby authorizes each Lender, if and to the extent payment owed to such Lender by such Borrower is not made when due hereunder, to charge from time to time against any or all of such Borrower’s accounts with such Lender any amount so due.
(c)All computations of interest based on clause (i) of the definition of “Alternate Base Rate” and of the Facility Fees shall be made by the Agent on the basis of a year of 365 or 366 days, as the case may be, and all computations of interest based on the Eurodollar Rate, LIBOR Market Index Rate and the LC Fee and the Federal Funds Rate shall be made by the Agent, and all computations of interest pursuant to Section 2.10 shall be made by a Lender, on the basis of a year of 360 days, in each case for the actual number of days (including the first day but excluding the last day) occurring in the period for which such interest or fees are payable.  Each determination by the Agent (or, in the case of Section 2.10, by a Lender) of an interest rate hereunder shall be conclusive and binding for all purposes, absent manifest error, provided that such determination shall have been made by the Agent or such Lender, as the case may be, in good faith.
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(d)Whenever any payment hereunder shall be stated to be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest or fees, as the case may be; provided, however, that if such extension would cause payment of interest on or principal of Eurodollar Rate Advances to be made in the next following calendar month, such payment shall be made on the immediately preceding Business Day.
(e)Unless the Agent shall have received notice from a Borrower prior to the date on which any payment is due to the Lenders hereunder that such Borrower will not make such payment in full, the Agent may assume that such Borrower has made such payment in full to the Agent on such date and the Agent may, in reliance upon such assumption, cause to be distributed to each Lender on such due date an amount equal to the amount then due such Lender.  If and to the extent that such Borrower shall not have so made such payment in full to the Agent, each Lender shall repay to the Agent forthwith on demand such amount distributed to such Lender together with interest thereon, for each day from the date such amount is distributed to such Lender until the date such Lender repays such amount to the Agent, at the Federal Funds Rate.
(f)Each Borrower shall be entitled to rely upon payment instructions and other information relating the amounts owed by it hereunder provided by the Agent and believed by such Borrower to be genuine and to have been signed, sent or otherwise authenticated by the proper person acting for the Agent and shall have no liability solely with respect to such reliance, provided that no such reliance by such Borrower shall in any way relieve or otherwise impair any obligation of such Borrower hereunder, including its obligations under Section 8.4.
Section 2.16Noteless Agreement; Evidence of Indebtedness.
(a)Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of each Borrower to such Lender resulting from each Advance made to such Borrower by such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.
(b)The Agent shall also maintain accounts in which it will record (i) the amount of each Advance made hereunder to each Borrower, the Class and Type thereof and the Interest Period (if any) with respect thereto, (ii) the amount of any principal or interest due and payable or to become due and payable by each Borrower to each Lender hereunder, and (iii) the amount of any sum received by the Agent hereunder from each Borrower and each Lender’s share thereof.
(c)The entries maintained in the accounts maintained pursuant to Section 2.16(a) and Section 2.16(b) shall be prima facie evidence of the existence and amounts of the obligations therein recorded; provided, however, that the failure of the Agent or any Lender to maintain such accounts or any error therein shall not in any manner affect the obligation of any Borrower to repay such obligations in accordance with their terms.
(d)The Advances of each Class made by each Lender shall, if requested by the applicable Lender (which request shall be made to the Agent), be evidenced (i) in the case of Revolving Advances, by a Revolving Note, and (ii) in the case of the Swingline Advances, by a Swingline Note, in each case appropriately completed and executed by the applicable Borrower and payable to the order of such Lender.  Each Note shall be entitled to all of the benefits of this Agreement and the other Loan Documents and shall be subject to the provisions hereof and thereof.
Section 2.17Taxes.
(a)Any and all payments by a Borrower hereunder and under the other Loan Documents shall be made, in accordance with Section 2.14(a), free and clear of and without deduction for any and all present or future taxes, levies, imposts, deductions, fees, assessments, charges or withholdings, and all liabilities with respect thereto, excluding, in the case of each Recipient, (i) any U.S. federal withholding taxes imposed under FATCA, including, without limitation, any tax that would not have been imposed but for a failure by a Person (or any financial institution through which any payment is made to such Person) (including a participant or any other recipient of any payment hereunder) to comply with the procedures, certifications, information, reporting, disclosure and other related requirements of FATCA, (ii) taxes imposed on its overall net income, branch profit taxes and franchise taxes imposed on it by any jurisdiction, unless such Lender, such LC Issuing Bank or the Agent (as the case may be) would not have had such taxes imposed on it by such jurisdiction but for such Lender’s, such LC Issuing Bank’s or the Agent’s (as the case may be) having entered into this Agreement, having consummated the transactions contemplated hereby or having received payments by such Borrower hereunder or under the other Loan Documents, (iii) any similar taxes 
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imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Advance or Loan Document ), (iv) in the case of a Lender, U.S. federal withholding taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in an Advance or Commitment pursuant to a law in effect on the date on which (x) such Lender acquires such interest in such Advance or Commitment (other than pursuant to an assignment request by such Borrower under Section 2.20) or (y) such Lender changes its Applicable Lending Office, except in each case to the extent that, pursuant to Section 2.17, amounts with respect to such taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its Applicable Lending Office, and (v) taxes attributable to such Recipient’s failure to comply with Section 2.17(e) (all such excluded taxes, levies, imposts, deductions, charges, withholdings and liabilities being hereinafter referred to as “Excluded Taxes” and all such non-excluded taxes, levies, imposts, deductions, fees, assessments, charges, withholdings and liabilities being hereinafter referred to as “Taxes”).  If a Borrower or the Agent shall be required by law to deduct or withhold any Taxes from or in respect of any sum payable by such Borrower hereunder or under any other Loan Document to any Lender, any LC Issuing Bank or the Agent, (i) the sum payable by such Borrower shall be increased as may be necessary so that after making all required deductions and withholdings (including deductions and withholdings applicable to additional sums payable under this Section 2.17) such Lender, such LC Issuing Bank or the Agent (as the case may be) receives an amount equal to the sum it would have received had no such deductions been made and(ii) such Borrower or the Agent as the case may be, shall make such deduction or withholding and shall pay the full amount deducted or withheld to the relevant taxation authority or other authority in accordance with applicable law.
(b)In addition, each Borrower agrees to pay any present or future stamp or documentary, intangible, recording, filing or similar taxes or any other excise or property taxes, charges or similar levies which arise from any payment made by such Borrower hereunder or under any other Loan Document or from the execution, delivery or registration of, or otherwise with respect to, this Agreement or any other Loan Document, except any such taxes, charges or levies that are imposed with respect to an assignment that is not made pursuant to Section 2.21 (hereinafter referred to as “Other Taxes”).
(c)Each Borrower will indemnify each Lender, each LC Issuing Bank and the Agent for the full amount of Taxes or Other Taxes (including, without limitation, any Taxes or Other Taxes imposed by any jurisdiction on amounts payable under this Section 2.17) paid by such Lender, such LC Issuing Bank or the Agent (as the case may be) and any liability (including penalties, interest and expenses) arising therefrom or with respect thereto, whether or not such Taxes or Other Taxes were correctly or legally asserted.  This indemnification shall be made within thirty days from the date such Lender, such LC Issuing Bank or the Agent (as the case may be) makes written demand therefor.  Nothing herein shall preclude the right of any Borrower to contest any such Taxes or Other Taxes so paid, and the applicable Lender, the applicable LC Issuing Bank or the Agent (as the case may be) will, following notice from, and at the expense of, such Borrower, reasonably cooperate with such Borrower to preserve such Borrower’s rights to contest such Taxes or Other Taxes.
(d)Within thirty days after the date of any payment of Taxes by any Borrower, such Borrower will furnish to the Agent, at its address referred to in Section 8.2, the original or a certified copy of a receipt evidencing payment thereof.
(e)Status of the Lenders.
(i)Each LC Issuing Bank and each Lender agrees that, on or prior to the date upon which it shall become a party hereto, and upon the reasonable request from time to time of any Borrower or the Agent, such LC Issuing Bank or such Lender will deliver to the Borrowers and the Agent either (i) a statement that it is organized under the laws of a jurisdiction within the United States or (ii) duly completed copies of such form or forms as may from time to time be prescribed by the United States Internal Revenue Service indicating that such LC Issuing Bank or such Lender is entitled to receive payments without deduction or withholding of any United States federal income taxes, as permitted by the Code.  In addition, any Lender, if reasonably requested by any Borrower or the Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by such Borrower or the Agent as will enable such Borrower or the Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements.  Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such 
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documentation set forth in Section 2.17(e)(ii)(A), (ii)(B) and (ii)(C) below) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender.  Each LC Issuing Bank and each Lender that delivers to the Borrowers and the Agent, if legally permitted, the form or forms referred to in the preceding sentence further undertakes to deliver to the Borrowers and the Agent further copies of such form or forms, or successor applicable form or forms, as the case may be, as and when any previous form filed by it hereunder shall expire or shall become incomplete or inaccurate in any respect.  Each LC Issuing Bank and each Lender represents and warrants that each such form supplied by it to the Agent and the Borrowers pursuant to this Section 2.17(e), and not superseded by another form supplied by it, is or will be, as the case may be, complete and accurate.
(ii)Without limiting the generality of the foregoing, in the event that any Borrower is a U.S. Person:
(A)any Lender that is a U.S. Person shall deliver to such Borrower and the Agent on or prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of such Borrower or the Agent), executed copies of IRS Form W-9 certifying that such Lender is exempt from United States federal backup withholding tax;
(B)any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to such Borrower and the Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of such Borrower or the Agent), whichever of the following is applicable:
(1)in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty;
(2)executed copies of IRS Form W-8ECI;
(3)in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit 2.17(e)(ii)-1 to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of such Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) executed copies of IRS Form W-8BENor IRS Form W-8BEN-E, as applicable; or
(4)to the extent a Foreign Lender is not the beneficial owner, executed copies of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, a U.S. Tax Compliance Certificate substantially in the form of Exhibit 2.17(e)(ii)-2 or Exhibit 2.17(e)(ii)-3, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit 2.17(e)(ii)-4 on behalf of each such direct and indirect partner; and
(C)any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to such Borrower and the Agent (in such number of copies as shall be requested by the recipient) on 
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or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of such Borrower or the Agent), executed originals of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable law to permit such Borrower or the Agent to determine the withholding or deduction required to be made.
(f)Any Lender claiming any additional amounts payable pursuant to this Section 2.17 shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions) to change the jurisdiction of its Applicable Lending Office if the making of such a change would avoid the need for, or reduce the amount of, any such additional amounts that may thereafter accrue and would not, in the reasonable judgment of such Lender, be otherwise disadvantageous to such Lender.
(g)If a payment made to a Lender hereunder or under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the applicable Borrower and the Agent at the time or times prescribed by law and at such time or times reasonably requested by such Borrower or the Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by such Borrower or the Agent as may be necessary for such Borrower and the Agent to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment.  Solely for purposes of this paragraph (g), “FATCA” shall include any amendments made to FATCA after the date of this Agreement.
(h)Each Lender shall severally indemnify the Agent, within 10 days after demand therefor, for (i) any Taxes or Other Taxes attributable to such Lender (but only to the extent that the applicable Borrower has not already indemnified the Agent for such Taxes or Other Taxes and without limiting the obligation of such Borrower to do so), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 8.7(c) relating to the maintenance of a Participant Register and (iii) any Excluded Taxes that are attributable to such Lender, in each case, that are payable or paid by the Agent in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Excluded Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority.  A certificate as to the amount of such payment or liability delivered to any Lender by the Agent shall be conclusive absent manifest error.  Each Lender hereby authorizes the Agent to set off and apply any and all amounts at any time owing to such Lender hereunder or under any Loan Document or otherwise payable by the Agent to the Lender from any other source against any amount due to the Agent under this paragraph (h).
(i)If any party determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified pursuant to this Section 2.17 (including by the payment of additional amounts pursuant to this Section 2.17), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this Section with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund).  Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this paragraph (i) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this paragraph (i), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this paragraph (i) the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been in if the indemnification payments or additional amounts giving rise to such refund had never been paid.  This paragraph shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person.
(j)Without prejudice to the survival of any other agreement of any Borrower hereunder, the agreements and obligations of each party contained in this Section 2.17 shall survive the payment in full of principal and interest hereunder and the termination of the Commitments.
Section 2.18Sharing of Payments, Etc.  All payments from or on behalf of any Borrower on account of any obligations shall be apportioned ratably among the Lenders based upon their respective share, if any, of the 
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obligations with respect to which such payment was received.  If any Lender shall obtain any payment (whether voluntary, involuntary, through the exercise of any right of set off, or otherwise) on account of the Advances made by it (other than pursuant to Section 2.13, Section 2.17, Section 2.19 or Section 8.4(d)) or on account of such Borrower’s reimbursement obligations in respect of LC Outstandings in excess of its ratable share of payments obtained by all the Lenders on account of the Advances or on account of such reimbursement obligations, such Lender shall forthwith purchase (for cash at face value) from the other Lenders such participations in the Advances made by them and such reimbursement obligations as shall be necessary to cause such purchasing Lender to share the excess payment ratably with each of them; provided, however, that (a) if all or any portion of such excess payment is thereafter recovered from such purchasing Lender, such purchase from each Lender shall be rescinded and such Lender shall repay to the purchasing Lender the purchase price to the extent of such recovery, together with an amount equal to such Lender’s ratable share (according to the proportion of (i) the amount of such 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 and (b) the provisions of this paragraph shall not be construed to apply to (x) any payment made by such 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 (y) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Advances or participations in reimbursement obligations or Swingline Advances to any assignee or participant, other than to such Borrower or any Subsidiary thereof (as to which the provisions of this paragraph shall apply). Each Borrower agrees that any Lender so purchasing a participation in any Advances made to such Borrower or reimbursement obligations of such Borrower from another Lender pursuant to this Section 2.18 may, to the fullest extent permitted by law, exercise all its rights of payment (including the right of set off) with respect to such participation as fully as if such Lender were the direct creditor of such Borrower in the amount of such participation.
Section 2.19Extension of Termination Date.
(a)So long as no Unmatured Default or Event of Default has occurred and is continuing and subject to the consent of the Majority Lenders and the conditions set forth in Section 2.19(c), the Borrowers may, at any time after the Closing Date but prior to the then existing Termination Date, but on no more than two occasions, request through written notice to the Agent (the “Extension Notice”), that the Lenders extend the then existing Termination Date for an additional one-year period; provided that the Termination Date, after giving effect to any such extension, shall not be later than five years after the effective date of such extension.  The Agent shall promptly notify the Lenders upon receipt of an Extension Notice.  Each Lender, acting in its sole discretion, shall, by notice to the Agent within 15 days of such notice, advise the Agent in writing of its desire to extend (any such Lender, a “Consenting Lender”) or not to so extend (any such Lender, a “Non-Consenting Lender”) the Termination Date.  Any Lender that does not advise the Agent by the Consent Date shall be deemed to be a Non-Consenting Lender.  No Lender shall be under any obligation or commitment to extend the then existing Termination Date.  The election of any Lender to agree to such extension shall not obligate any other Lender to agree to such extension.
(b)If the Majority Lenders (determined as of the Consent Date) shall have agreed to such extension, then the then existing Termination Date applicable to the Consenting Lenders shall be extended to the date that is one year after the then existing Termination Date.  All Advances of each Non-Consenting Lender shall be subject to the then existing Termination Date, without giving effect to such extension (such date, the “Prior Termination Date”).  In the event of an extension of the then existing Termination Date pursuant to this Section 2.19, the Borrowers shall have the right, at their own expense, to solicit commitments from existing Lenders and/or Eligible Assignees reasonably acceptable to the Agent and the LC Issuing Banks to replace the Commitment of any Non-Consenting Lenders for the remaining duration of this Agreement.  Any Eligible Assignee (if not already a Lender hereunder) shall become a party to this Agreement as a Lender pursuant to a joinder agreement in form and substance reasonably satisfactory to the Agent and the Borrowers.  The Commitment of each Non-Consenting Lender shall terminate on the Prior Termination Date, all Advances and other amounts payable hereunder to such Non-Consenting Lenders shall be subject to the Prior Termination Date and, to the extent such Non-Consenting Lender’s Commitment is not replaced as provided above, the Aggregate Commitment hereunder shall be reduced by the amount of the Commitment of each such Non-Consenting Lender so terminated on the Prior Termination Date.  Notwithstanding anything to the contrary in this Section 2.19, the Termination Date shall not be extended unless the aggregate Commitments of the Consenting Lenders and any Eligible Assignees joining this Agreement pursuant to this Section 2.19(b) are greater than or equal to the Outstanding Credits as of each Prior Termination Date.
(c)An extension of the Termination Date pursuant to this Section 2.19 shall only become effective upon the receipt by the Agent of a certificate (the statements contained in which shall be true) of a duly authorized officer of each Borrower stating that both before and after giving effect to such extension of the Termination Date (i) 
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no Unmatured Default or Event of Default has occurred and is continuing and (ii) all representations and warranties contained in Section 4.1 are true and correct in all material respects on and as of the date such extension is made, except for such representations or warranties which by their terms are made as of a specified date, which shall be true and correct as of such specified date.
(d)Effective on and after the Prior Termination Date, (i) each of the Non-Consenting Lenders shall be automatically released from their respective participations and reimbursement obligations under Section 2.4 with respect to any LC Outstandings and (ii) the participations and reimbursement obligations of each Lender (other than the Non-Consenting Lenders) shall be automatically adjusted to equal such Lender’s Percentage of such LC Outstandings.
Section 2.20Mitigation Obligations.  If any Lender requests compensation under Section 2.13, or any Borrower is required to pay any Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Advances hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.13 or 2.17, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender.  Each Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment.
Section 2.21Replacement of Lenders.  
(a)The Borrowers may, at any time at its sole expense and effort, require any Lender that (x) requests compensation under Section 2.9, Section 2.13 or Section 2.14, or requires any Borrower to pay any Taxes or additional amounts under Section 2.17, (y) does not approve a consent, waiver or amendment to any Loan Document requested by the Borrowers or the Agent and that requires the approval of all or all affected Lenders under Section 8.1 which is otherwise approved by the Majority Lenders, or (z) is a Defaulting Lender, upon notice to such Lender and the Agent, to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by, Section 8.7), all of its interests, rights and obligations under this Agreement and the related Loan Documents to an Eligible Assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided that:
(i)no Unmatured Default or Event of Default shall have occurred and be continuing at such time;
(ii)the Agent shall have received the assignment fee specified in Section 8.7(a);
(iii)such Lender shall have received payment of an amount equal to the outstanding principal of its Advances and any funded participations in Letters of Credit not refinanced through the Borrowing of Revolving Advances, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under Section 8.4(d)) from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrowers (in the case of all other amounts);
(iv)such assignee, if it is not an existing Lender and/or Eligible Assignee, shall be reasonably satisfactory to the Agent;
(v)such assignment does not conflict with any applicable Requirement of Law;
(vi)in the case of assignment from a Lender as a result of (y) above, the applicable assignee shall have consented to the applicable amendment, waiver or consent; and
(vii)in the case of any such assignment resulting from a claim for compensation under Section 2.13 or payments required to be made pursuant to Section 2.17, such assignment will result in a reduction in such compensation or payments thereafter.
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A Lender shall not be required to make any assignment or delegation if, prior thereto, the circumstances entitling the Borrowers to require such assignment and delegation cease to apply.
(b)At any time a Lender is a Designated Lender, the Borrowers may terminate in full the Commitment of such Designated Lender by giving notice to such Designated Lender and the Agent, effective as of the date such notice has been received by both such Designated Lender and the Agent; provided that (i) at the time of such termination, (x) no Event of Default or Unmatured Default exists (or the Majority Lenders consent to such termination) and (y) no Advances are outstanding; (ii) concurrently with such termination, the Aggregate Commitments shall be reduced by the Commitment of such Designated Lender (it being understood that the Borrowers may not terminate the Commitment of a Designated Lender if, after giving effect to such termination, the Outstanding Credits would exceed the Aggregate Commitment); and (iii) concurrently with any subsequent payment of interest or fees to the Lenders with respect to any period before the termination of the Commitment of such Designated Lender, each Borrower shall pay to such Designated Lender its Applicable Share of such Designated Lender’s ratable share (based upon the percentage of the Aggregate Commitments represented by such Defaulting Lender’s Commitment before giving effect to such termination) of such interest or fees, as applicable.  The termination of the Commitment of a Defaulting Lender pursuant to this Section 2.21(b) shall not deemed to be a waiver of any right any Borrower, the Agent, any LC Issuing Bank or any other Lender may have against such Defaulting Lender.  
Section 2.22Defaulting Lenders.  
(a)Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then, until such time as such Lender is no longer a Defaulting Lender (including as a result of termination of its Commitments pursuant to Section 2.21(b), to the extent permitted by applicable law:
(i)Such 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 the definition of Majority Lenders and in Section 8.1.
(ii)Any payment of principal, interest, fees or other amounts received by the Agent hereunder for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VI or otherwise) or received by the Agent from a Defaulting Lender pursuant to Section 6.1 shall be applied at such time or times as may be determined by the Agent as follows:
(A)first, to the payment of any amounts owing by such Defaulting Lender to the Agent hereunder;
(B)second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to the LC Issuing Banks or the Swingline Lender hereunder;
(C)third, if so determined by the Agent or requested by any LC Issuing Bank or the Swingline Lender, to be held as Cash Collateral for future funding obligations of such Defaulting Lender in respect of any participation in any Letter of Credit or Swingline Advance;
(D)fourth, as any Borrower may request (so long as no Unmatured Default or Event of Default exists with respect to such Borrower), to the funding of any Advance for such Borrower in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Agent;
(E)fifth, if so determined by the Agent and the Borrowers, to be held in a non-interest bearing deposit account and released in order to satisfy obligations of such Defaulting Lender to fund Advances under this Agreement;
(F)sixth, to the payment of any amounts owing to the Lenders, the LC Issuing Banks or the Swingline Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender, the LC Issuing Bank or the Swingline Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement;
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(G)seventh, so long as no Unmatured Default or Event of Default exists with respect to such Borrower, to the payment of any amounts owing to such Borrower as a result of any judgment of a court of competent jurisdiction obtained by such Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and
(H)eighth, to such 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 Advances or any LC Outstandings in respect of which such Defaulting Lender has not fully funded its appropriate share, and (y) such Advances were made or the related Letters of Credit were issued at a time when the conditions set forth in Article III were satisfied or waived, such payment shall be applied solely to pay the Advances of, and obligations in respect of Letters of Credit owed to, all non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Advances of, or obligations in respect of Letters of Credit owed to, such 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 2.22(a)(ii) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto.
(iii)Any Defaulting Lender shall be entitled to receive any Facility Fee for any period during which such Lender is a Defaulting Lender only to the extent allocable to the sum of (1) the outstanding amount of the Revolving Advances funded by it and (2) its LC Outstandings and Swingline Exposure for which it has provided Cash Collateral pursuant to Section 2.22(c) (and each Borrower shall (A) be required to pay the applicable LC Issuing Banks and the Swingline Lender the amount of such fee allocable to its Fronting Exposure with respect to such Borrower arising from such Defaulting Lender and (B) not be required to pay the remaining amount of such fee that otherwise would have been required to have been paid to such Defaulting Lender).
(iv)All or any part of such Defaulting Lender’s LC Outstandings and Swingline Exposure shall automatically (effective on the day such Lender becomes a Defaulting Lender) be reallocated among the non-Defaulting Lenders in accordance with their respective Credit Exposures (calculated without regard to such Defaulting Lender’s Commitment) but only to the extent that such reallocation does not cause the Credit Exposure of any non-Defaulting Lender to exceed such non-Defaulting Lender’s Commitment.
(v)If the reallocation described in Section 2.22(a)(iv) cannot, or can only partially, be effected, each Borrower shall, without prejudice to any right or remedy available to it hereunder or under law, within two Business Days following notice by the Agent, Cash Collateralize such Defaulting Lender’s LC Outstandings and its Swingline Exposure with respect to such Borrower (after giving effect to any partial reallocation pursuant to Section 2.22(a)(iv)) in accordance with the procedures set forth in Section 2.22(c).
(b)If the Borrowers, the Agent, the LC Issuing Banks and the Swingline Lender agree in writing in their sole discretion that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the 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), such Lender will, to the extent applicable, purchase at par that portion of outstanding Advances of the other Lenders or take such other actions as the Agent may determine to be necessary to cause the Revolving Advances and funded and unfunded participations in Letters of Credit and Swingline Advances to be held on a pro rata basis by the Lenders in accordance with their respective Credit Exposures (without giving effect to Section 2.22(a)(iv)), whereupon such 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 any Borrower while such Lender was a Defaulting Lender; 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 such Lender’s having been a Defaulting Lender.
(c)At any time that there shall exist a Defaulting Lender, within one Business Day following the written request of the Agent, any LC Issuing Bank or the Swingline Lender, each Borrower shall Cash Collateralize all Fronting Exposure with respect to such Defaulting Lender in respect of Letters of Credit issued for the account of such Borrower (determined after giving effect to Section 2.22(a)(iv) and any Cash Collateral provided by such Defaulting Lender). 
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(i)Each Borrower, and to the extent provided by any Defaulting Lender, such Defaulting Lender, hereby grants to the Agent, the LC Issuing Banks and the Lenders (including the Swingline Lender) and agrees to maintain, a first priority security interest in all such Cash Collateral as security for the Defaulting Lenders’ obligation to fund participations in respect of the obligations to which such Cash Collateral may be applied pursuant to Section 2.22(c)(ii).  If at any time the Agent determines that Cash Collateral is subject to any right or claim of any Person other than the Agent and the LC Issuing Banks as herein provided, or that the total amount of such Cash Collateral is less than the applicable Fronting Exposure, each Borrower will, promptly upon demand by the Agent, pay or provide to the Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency (after giving effect to any Cash Collateral provided by the Defaulting Lender).
(ii)Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided under this Section 2.22 in respect of Letters of Credit or Swingline Advances shall be applied to the satisfaction of the Defaulting Lender’s obligation to fund participations in respect of the applicable Letters of Credit and Swingline Advances (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 otherwise be provided for herein.
(iii)Cash Collateral (or the appropriate portion thereof) provided to reduce any Fronting Exposure or other obligations shall no longer be required to be held as Cash Collateral pursuant to this Section 2.22 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 determination by the Agent that there exists excess Cash Collateral; provided however that, (x) Cash Collateral furnished by any Borrower shall not be released during the continuance of a Default with respect to such Borrower (and following application as provided in this Section 2.22 may otherwise be applied in accordance with Section 2.18) and (y) the Person providing Cash Collateral and the LC Issuing Banks or Swingline Lender, as applicable, may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations.
ARTICLE III
CONDITIONS TO EXTENSIONS OF CREDIT
Section 3.1Conditions Precedent to Closing Date.  The occurrence of the Closing Date is subject to satisfaction of the following conditions precedent:
(a)The Agent shall have received the following, in form and substance satisfactory to the Lenders:
(i)this Agreement, dated as of the Closing Date and duly executed by each Borrower, each Lender, each LC Issuing Bank and the Agent;
(ii)each Note requested by a Lender pursuant to Section 2.16 payable to the order of each such Lender, dated as of the Closing Date and duly completed and executed by each Borrower;
(iii)copies of (A) the resolutions of the Board of Directors of each Borrower approving this Agreement and the other Loan Documents to which it is, or is to be, a party, and (B) all documents evidencing other necessary corporate action on the part of each Borrower with respect to this Agreement and the other Loan Documents, certified by the Secretary or an Assistant Secretary of such Borrower;
(iv)a certificate of the Secretary or an Assistant Secretary of each Borrower certifying the names, true signatures and incumbency of the officers of such Borrower authorized to sign this Agreement and the other Loan Documents to which it is, or is to be, a party;
(v)copies of the Certificate of Incorporation (or comparable charter document) and by-laws of each Borrower, together with all amendments thereto, certified by the Secretary or an Assistant Secretary of such Borrower;
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(vi)copies of all Governmental Approvals, if any, required in connection with the execution, delivery and performance of this Agreement and the other Loan Documents, certified by the Secretary or an Assistant Secretary of each Borrower;
(vii)copies of the financial statements referred to in Section 4.1(f);
(viii)favorable opinions, which permit reliance by permitted assigns of each of the Agent and the Lenders, of:
(A)Perkins Coie LLP, counsel for the Borrowers, in substantially the form of Exhibit 3.1(a)(viii)(A) and as to such other matters as the Majority Lenders, through the Agent, may reasonably request; and
(B)Local counsel for the Borrowers, in substantially the form of Exhibit 3.1(a)(viii)(B) and as to such other matters as the Majority Lenders, through the Agent, may reasonably request; and
(ix)such other approvals, opinions and documents as any Lender, through the Agent, may reasonably request.
(b)The following statements shall be true and correct, and the Agent shall have received a certificate of a duly authorized officer of each Borrower, dated the date of the Closing Date and in sufficient copies for each Lender, stating that:
(i)the representations and warranties of such Borrower set forth in Section 4.1 of this Agreement are true and correct on and as of the date of the Closing Date as though made on and as of such date; and
(ii)no event has occurred and is continuing that constitutes an Unmatured Default or an Event of Default with respect to such Borrower.
(c)The Borrowers shall have paid (i) all fees payable hereunder or payable pursuant to the Fee Letters and the Existing Credit Agreement to the extent then due and payable, and (ii) all costs and expenses of the Agent (including counsel fees and disbursements) incurred through (and for which statements have been provided prior to) the Closing Date.
(d)The Agent and each Lender shall have received at least five business days prior to the Closing Date all documentation and information required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including without limitation the PATRIOT Act.
(e)The Agent shall have confirmed receipt of all accrued and unpaid interest and fees payable pursuant to the Existing Credit Agreement as of the Closing Date.
Section 3.2Conditions Precedent to Each Extension of Credit.  The obligation of (i) each Lender to make an Advance to any Borrower on the occasion of each Borrowing (including the initial Borrowing) that would cause the aggregate principal amount of Advances outstanding hereunder to increase and (ii) any LC Issuing Bank to issue, extend the expiry date or increase the amount of, any Letter of Credit for the account of any Borrower shall be subject to the conditions precedent that, on the date of such Extension of Credit:
(a)the following statements shall be true and correct (and each of the giving of the applicable Notice of Borrowing, Notice of Swingline Borrowing or Request for Issuance, as the case may be, and the acceptance by such Borrower of the proceeds of such Borrowing or the issuance, extension or increase of such Letter of Credit, as the case may be, shall constitute a representation and warranty by such Borrower that, on the date of such Extension of Credit, such statements are true and correct):
(i)the representations and warranties of such Borrower contained in Section 4.1 (other than the representation and warranty set forth in Section 4.1(e)) are true and correct in all material respects, or if such representation is qualified as to materiality, true and correct in all respects, on and as of the date of 
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such Extension of Credit, before and after giving effect to the application of the proceeds of any Borrowing made in connection therewith or the issuance or amendment of any Letter of Credit in connection therewith, as the case may be, as though made on and as of such date;
(ii)no event has occurred and is continuing with respect to such Borrower, or would result from such Extension of Credit or from the application of proceeds of any Borrowing made in connection therewith or the issuance or amendment of any Letter of Credit in connection therewith, as the case may be, that constitutes an Event of Default or an Unmatured Default; and
(iii)after giving effect to such Extension of Credit, such Borrower’s Outstanding Credits will not exceed its borrowing authority as allowed by applicable governmental authorities.
(b)prior to any Extension of Credit that would result in the outstanding principal amount of short-term Debt of (i) IPL to exceed $300,000,000 or (ii) WPL to exceed $400,000,000, IPL or WPL, as the case may be, shall have obtained an appropriate Governmental Approval and shall have delivered copies of same, with appropriate certifications and, if requested by the Agent, an opinion letter, regarding such Governmental Approval to the Agent; and
(c)the Agent shall have received such other approvals, opinions, or documents as the Agent, or the Majority Lenders through the Agent, may reasonably request, and such approvals, opinions, and documents shall be satisfactory in form and substance to the Agent.
Section 3.3Conditions Precedent to Extensions of Credit On or After the Trigger Date.
(a)With respect to any Extension of Credit to IPL at any time on or after the Trigger Date, the obligation of (i) each Lender to make an Advance on the occasion of each Borrowing (including the initial Borrowing) that would cause the aggregate principal amount of Advances to such Borrower outstanding hereunder to increase, and (ii) any LC Issuing Bank to issue any Letter of Credit (including the initial Letter of Credit) or increase the stated amount of any Letter of Credit or to extend the termination date thereof for the account of such Borrower shall, if any Governmental Approval is required in order for the term of this Agreement to extend past such Trigger Date, be subject to such Borrower’s delivery of the following, each dated on or prior to the date of such requested Extension of Credit, in form and substance satisfactory to the LC Issuing Banks, the Swingline Lender and Agent:
(i)A certificate of the Secretary or an Assistant Secretary of such Borrower certifying that attached thereto are true and correct copies of all Governmental Approvals required to be obtained in order for the term of this Agreement to extend past such Trigger Date, and that such Governmental Approvals have been issued and are in full force and effect; and
(ii)If requested by the Agent, an opinion of counsel for such Borrower (which may be the Borrower’s in-house counsel) to the effect that no Governmental Approval is or will be required in connection with the performance by such Borrower, or the consummation by such Borrower of the transactions contemplated by, this Agreement between such Trigger Date, other than the Governmental Approvals described in clause (i) above, which have been duly issued and are final and in full force and effect.
(b)It is understood that any certificate of the Secretary or Assistant Secretary of the applicable Borrower and opinion letter delivered pursuant to clauses (i) and (ii) may, based upon their terms, suffice to satisfy this Section 3.3 with respect to more than one Trigger Date.  The Agent shall furnish each certificate of the Secretary or Assistant Secretary of the applicable Borrower and opinion letter delivered pursuant to clause (i) and (ii) to the LC Issuing Banks and each Lender in the manner prescribed in the last paragraph of Section 5.1(h).
Section 3.4Reliance on Certificates.  The Lenders, the LC Issuing Banks and the Agent shall be entitled to rely conclusively upon the certificates delivered from time to time by officers of any Borrower as to the names, incumbency, authority and signatures of the respective Persons named therein until such time as the Agent may receive a replacement certificate, in form acceptable to the Agent, from an officer of such Person identified to the Agent as having authority to deliver such certificate, setting forth the names and true signatures of the officers and other representatives of such Person thereafter authorized to act on behalf of such Person.
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ARTICLE IV
REPRESENTATIONS AND WARRANTIES
Section 4.1Representations and Warranties of the Borrowers.  Each Borrower, severally and not jointly, represents and warrants as follows:
(a)Such Borrower and its Significant Subsidiaries is a corporation duly organized and validly existing under the laws of the jurisdiction of its incorporation and is duly qualified to do business in, and is in good standing in, all other jurisdictions where the nature of its business or the nature of property owned or used by it makes such qualification necessary (except where the failure to so qualify would not constitute a Material Adverse Change with respect to such Borrower).
(b)The execution, delivery and performance by such Borrower of this Agreement and the other Loan Documents to which it is or will be a party, and the receipt by such Borrower of the proceeds of Extensions of Credit on the date of any Extension of Credit, are within such Borrower’s corporate powers, have been duly authorized by all necessary corporate action, and do not and will not contravene (i) such Borrower’s charter or by-laws, (ii) any Requirement of Law, or (iii) any legal or contractual restriction binding on or affecting such Borrower (including with respect to WPL, without limitation, the Future PSC Order); and such execution, delivery and performance do not and will not result in or require the creation of any Lien (other than pursuant to the Loan Documents) upon or with respect to any of its properties.
(c)No Governmental Approval is required in connection with the execution, delivery or performance by such Borrower of any Loan Document, except for (i) certain filings as may be required by the Securities Exchange Act of 1934, as amended, (ii) with respect to IPL, (A) the FERC Order, which release and order is final and in full force and effect and not subject to appeal, rehearing, review or reconsideration and (B) with respect to IPL obtaining any Extension of Credit after each Trigger Date, a Supplemental Order and (iii) with respect to WPL, the PSC Order, which order is final and in full force and effect and not subject to appeal, rehearing, review or reconsideration.
(d)This Agreement is, and each other Loan Document to which such Borrower will be a party when executed and delivered hereunder will be, legal, valid and binding obligations of such Borrower enforceable against such Borrower in accordance with their respective terms, subject to the qualifications, however, that the enforcement of the rights and remedies herein and therein is subject to bankruptcy and other similar laws of general application affecting rights and remedies of creditors and that the remedy of specific performance or of injunctive relief is subject to the discretion of the court before which any proceedings therefor may be brought.
(e)Since December 31, 2020, except as disclosed in such Borrower’s Report on Form 10-K for the year ended December 31, 2020 and Report on Form 10-Q for the period ended September 30, 2021 (but excluding any risk factors, forward-looking disclosures and any other disclosures that are cautionary, predictive or forward-looking in nature), there has been no event or circumstance that has had or could be reasonably expected to have, either individually or in the aggregate, a Material Adverse Change with respect to such Borrower.
(f)The audited consolidated balance sheets of such Borrower and its Subsidiaries as at December 31, 2020, and the related audited consolidated statements of income of such Borrower and its Subsidiaries for the fiscal year then ended, and the unaudited consolidated balance sheets of such Borrower and its Subsidiaries as at September 30, 2021 and the related unaudited consolidated statements of income for the three-month period then ended, copies of each of which have been furnished to each Bank, fairly present (subject, in the case of such balance sheets and statements of income for the three-month period ended September 30, 2021, to year-end adjustments) the consolidated financial condition of such Borrower and its Subsidiaries as at such dates and the consolidated results of operations of such Borrower and its Subsidiaries for the periods ended on such dates, all in accordance, in all material respects, with GAAP.
(g)Except as disclosed in the Parent’s Report on Form 10-K for the year ended December 31, 2020 and Report on Form 10-Q for the period ended September 30, 2021 (but excluding any risk factors, forward-looking disclosures and any other disclosures that are cautionary, predictive or forward-looking in nature), there is no pending or threatened action or proceeding affecting such Borrower or any of its Significant Subsidiaries or properties before any court, governmental agency or arbitrator, that might reasonably be expected to constitute a Material Adverse Change with respect to such Borrower, and since December 31, 2020 there have been no material adverse 
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developments in any action or proceeding so disclosed that might reasonably be expected to constitute a Material Adverse Change with respect to such Borrower.
(h)No ERISA Event has occurred or is reasonably expected to occur with respect to any Plan of such Borrower or any of its ERISA Affiliates which would result in a liability to such Borrower, no “prohibited transaction” has occurred with respect to any Plan of such Borrower that is reasonably expected to result in a liability to such Borrower and neither such Borrower nor any of its ERISA Affiliates has incurred nor reasonably expects to incur any withdrawal liability under ERISA to any Multiemployer Plan, in each case that could reasonably be expected to constitute a Material Adverse Change with respect to such Borrower.  Such Borrower is not nor will be using “plan assets” (within the meaning of 29 CFR § 2510.3-101, as modified by Section 3(42) of ERISA) of one or more Benefit Plans in connection with the Advances, the Letters of Credit or the Commitments.
(i)Such Borrower has filed all tax returns (Federal, state and local) required to be filed and paid all taxes shown thereon to be due, including interest and penalties, or, to the extent such Borrower is contesting in good faith by appropriate proceedings an assertion of liability based on such returns and has provided adequate reserves for payment thereof in accordance with GAAP.
(j)Such Borrower and its Significant Subsidiaries are not engaged principally, or as one of its important activities, in the business of purchasing or carrying Margin Stock, or extending credit for the purpose of purchasing or carrying Margin Stock.  After the making of each Extension of Credit, Margin Stock will constitute less than 25 percent of the assets (as determined by any reasonable method) of such Borrower and its Significant Subsidiaries on a consolidated basis.
(k)Such Borrower is not an “investment company” or a company “controlled” by an “investment company”, required to be registered under the Investment Company Act of 1940, as amended.
(l)None of (i) any Borrower, any Subsidiary or, to the knowledge of the Borrowers or such Subsidiary, any of their respective directors, officers or employees, or (ii) any agent or representative of the Borrowers or any Subsidiary that will act in any capacity in connection with or benefit from the Advances made hereunder, (A) is a Sanctioned Person or currently the subject or target of any Sanctions, (B) has its assets located in a Sanctioned Country, (C) is under administrative, civil or criminal investigation for an alleged violation of, or received notice from or made a voluntary disclosure to any governmental entity regarding a possible violation of, Anti-Corruption Laws, Anti-Money Laundering Laws or Sanctions by a governmental authority that enforces Sanctions or any Anti-Corruption Laws or Anti-Money Laundering Laws, or (D) directly or indirectly derives revenues from investments in, or transactions with, Sanctioned Persons.  Each of the Borrower and its Subsidiaries has implemented and maintains in effect policies and procedures designed to ensure compliance by the Borrower and its Subsidiaries and their respective directors, officers, employees and agents with all Anti-Corruption Laws, Anti-Money Laundering Laws and applicable Sanctions.  Each of the Borrower and its Subsidiaries, and to the knowledge of the Borrower, director, officer, employee and agent of Borrower and each such Subsidiary, is in compliance with all Anti-Corruption Laws, Anti-Money Laundering Laws in all material respects and applicable Sanctions.
(m)As of the Closing Date, if such Borrower is a “legal entity customer” under the Beneficial Ownership Regulation, all of the information included in its Beneficial Ownership Certification is true and correct.
(n)Neither the making of the Advances hereunder nor the use of the proceeds thereof will violate the PATRIOT Act, the Trading with the Enemy Act, as amended, or any of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto.  Such Borrower and its Significant Subsidiaries are in compliance in all material respects with the PATRIOT Act.
(o)Such Borrower and its Significant Subsidiaries has timely filed all material reports, documents and other materials required to be filed by it in order to comply with the requirements of all applicable laws, rules, regulations and orders of any governmental authority, and is otherwise in compliance with the requirements of all applicable laws, rules, regulations and orders of any governmental authority in respect of the conduct of its business and the ownership and operation of its properties, except in each case to the extent that the failure to comply therewith, individually or in the aggregate, could not reasonably be expected to constitute a Material Adverse Change with respect to such Borrower.
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(p)No report, financial statement, certificate or other information furnished (whether in writing or orally) by or on behalf of such Borrower to the Agent or any Lender in connection with the transactions contemplated hereby and the negotiation of this Agreement or delivered hereunder or under any other Loan Document (in each case, as modified or supplemented by other information so furnished) contains 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 misleading; provided that, with respect to projected financial information, such Borrower represents only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time.
ARTICLE V
COVENANTS OF THE BORROWER
Section 5.1Affirmative Covenants.  Each Borrower, severally but not jointly, covenants and agrees that, so long as any obligations of such Borrower in respect of this Agreement shall remain unpaid (other than (i) contingent indemnification or expense reimbursement obligations to the extent no claim giving rise thereto has been asserted and (ii) Letter of Credit obligations that have been Cash Collateralized in accordance with the terms hereof), any Lender shall have any Commitment to such Borrower or any Letter of Credit for such Borrower’s account shall remain outstanding, such Borrower will, unless the Majority Lenders shall otherwise consent in writing:
(a)Payment of Taxes, Etc.  Pay and discharge, and cause each of its Domestic Subsidiaries to pay and discharge, before the same shall become delinquent, all taxes, assessments and governmental charges, royalties or levies imposed upon it or upon its property except, in the case of taxes, to the extent such Borrower or such Domestic Subsidiary is contesting the same in good faith and by appropriate proceedings and has set aside adequate reserves for the payment thereof in accordance with GAAP, unless the failure to do so would not constitute a Material Adverse Change with respect to such Borrower.
(b)Maintenance of Insurance.  Maintain, or cause to be maintained, insurance or other risk management programs covering such Borrower and each of its Subsidiaries and their respective properties in effect at all times in such amounts and covering such risks and using such means as are usual and customary for companies of a similar size (based on the aggregate book value of the Parent’s assets, as determined on a consolidated basis in accordance with GAAP), engaged in similar businesses and owning similar properties, either with reputable insurance companies or, in whole or in part, by establishing reserves of one or more insurance funds or other risk management mechanisms, either alone or with other corporations or associations, unless the failure to do so would not constitute a Material Adverse Change with respect to such Borrower.
(c)Preservation of Existence, Etc.  Preserve and maintain its corporate existence (except in a transaction permitted by Section 5.2(c)), material rights (statutory and otherwise) and franchises; provided, however, that such Borrower shall not be required to preserve and maintain any such right or franchise, unless the failure to do so would constitute a Material Adverse Change with respect to such Borrower.
(d)Compliance with Laws, Etc.  Comply, and cause each of its Subsidiaries to comply, with the requirements of all applicable laws, rules, regulations and orders of any governmental authority, including without limitation any such laws, rules, regulations and orders relating to zoning, environmental protection, use and disposal of Hazardous Substances, land use, ERISA, construction and building restrictions, and employee safety and health matters relating to business operations, the non-compliance with which would constitute a Material Adverse Change with respect to such Borrower.
(e)Inspection Rights.  At the reasonable expense of such Borrower, at any time and from time to time, upon reasonable notice, permit or arrange for the Agent, the LC Issuing Banks, the Lenders and their respective agents and representatives to examine and make copies of and abstracts from the records and books of account of, and the properties of, such Borrower and each of its Subsidiaries, and to discuss the affairs, finances and accounts of such Borrower and its Subsidiaries with such Borrower and its Subsidiaries and their respective officers, directors and accountants.
(f)Keeping of Books.  Keep, and cause its Subsidiaries to keep, proper records and books of account, in which full and correct entries shall be made of all financial transactions of such Borrower and its Subsidiaries and the assets and business of such Borrower and its Subsidiaries, in accordance with GAAP.
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(g)Maintenance of Properties, Etc.  Maintain, and cause each of its Subsidiaries to maintain, good and marketable title to, and preserve, maintain, develop, and operate in substantial conformity with all laws and material contractual obligations, all of its properties which are used or useful in the conduct of its business in good working order and condition, ordinary wear and tear excepted, except where the failure to do so would not constitute a Material Adverse Change with respect to such Borrower.
(h)Reporting Requirements.  Furnish to each Lender in the manner prescribed in the last paragraph of this subsection (h):
(i)as soon as possible and in any event within five Business Days after the occurrence of each Unmatured Default or Event of Default with respect to such Borrower continuing on the date of such statement, a statement of a Senior Financial Officer setting forth details of such Unmatured Default or Event of Default and the action that such Borrower proposes to take with respect thereto;
(ii)as soon as available and in any event within sixty days after the end of each of the first three quarters of each fiscal year of such Borrower, a consolidated balance sheet of such Borrower and its Subsidiaries as at the end of such quarter and consolidated statements of income and cash flows of such Borrower and its Subsidiaries for the period commencing at the end of the previous fiscal year and ending with the end of such quarter, all in reasonable detail and duly certified (subject to year-end audit adjustments) by a Senior Financial Officer as having been prepared in accordance (in all material respects) with GAAP, together with a certificate of said officer stating that no Unmatured Default or Event of Default with respect to such Borrower has occurred and is continuing or, if an Unmatured Default or Event of Default with respect to such Borrower has occurred and is continuing, a statement as to the nature thereof and the action that such Borrower proposes to take with respect thereto; provided that the delivery to the Agent of copies of the Quarterly Report on Form 10-Q of the Borrowers filed with the Securities and Exchange Commission for any quarter shall satisfy the requirements of this Section 5.1(h)(ii) with respect to such quarter;
(iii)as soon as available and in any event within 120 days after the end of each fiscal year of such Borrower, a copy of the audited consolidated balance sheet of such Borrower and its Subsidiaries as at the end of such fiscal year and consolidated statements of income, retained earnings and cash flows of such Borrower and its Subsidiaries for such fiscal year, such consolidated statements to be accompanied by a report and opinion of an independent certified public accountant 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 or any qualification or exception as to the scope of such audit, together with a certificate of said officer stating that no Unmatured Default or Event of Default with respect to such Borrower has occurred and is continuing or, if an Unmatured Default or Event of Default with respect to such Borrower has occurred and is continuing, a statement as to the nature thereof and the action that such Borrower proposes to take with respect thereto; provided that the delivery to the Agent of copies of the annual Form 10-K of the Borrowers filed with the Securities and Exchange Commission for any year shall satisfy the requirements of this Section 5.1(h)(iii) with respect to such year;
(iv)concurrently with the delivery of the financial statements referred to in clauses (ii) and (iii) above, a certificate signed by the principal executive officer and the principal financial officer of such Borrower (i) stating whether a Default or Event of Default with respect to such Borrower has occurred and is continuing on the date of such certificate, and if a Default or an Event of Default with respect to such Borrower has then occurred and is continuing, specifying the details thereof and the action that such Borrower has taken or proposes to take with respect thereto, (ii) setting forth in reasonable detail calculations demonstrating compliance with Section 5.2(f) and (iii) stating whether any change in GAAP or the application thereof has occurred since the date of the audited financial statements referred to in Section 4.1 and, if any change has occurred, specifying the effect of such change on the financial statements accompanying such certificate;
(v)as soon as possible and in any event within 10 days after any ERISA Event with respect to any Plan of such Borrower or any ERISA Affiliate of such Borrower has occurred, a statement of a Senior Financial Officer describing such ERISA Event and the action, if any, which such Borrower or such ERISA Affiliate proposes to take with respect thereto;
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(vi)promptly after receipt thereof by such Borrower or any of its ERISA Affiliates from the PBGC copies of each notice received by such Borrower or such ERISA Affiliate of the PBGC’s intention to terminate any Plan of such Borrower or such ERISA Affiliate or to have a trustee appointed to administer any such Plan;
(vii)promptly after receipt thereof by such Borrower or any of its ERISA Affiliates from a Multiemployer Plan sponsor, a copy of each notice received by such Borrower or such ERISA Affiliate concerning the imposition or amount of withdrawal liability in an aggregate principal amount of at least $5,000,000 pursuant to Section 4202 of ERISA in respect of which such Borrower or such ERISA Affiliate is reasonably expected to be liable;
(viii)promptly after requested, such documents or governmental reports or filings relating to any Plan of such Borrower as the Agent or any LC Issuing Bank or any Lender through the Agent may from time to time reasonably request;
(ix)promptly after such Borrower becomes aware of the occurrence thereof, notice of all actions, suits, proceedings or other events (A) of the type described in Section 4.1(g) or (B) for which the Agent, the LC Issuing Banks and the Lenders will be entitled to indemnity under Section 8.4(b);
(x)promptly after the sending or filing thereof, copies of all such proxy statements, financial statements, and reports which such Borrower or its Affiliates sends to its public security holders (if any), and copies of all regular, periodic and special reports, and all registration statements and periodic or special reports, if any, which such Borrower or any Affiliate of such Borrower files with the Securities and Exchange Commission or any other governmental authority which may be substituted therefor, or with any national securities exchange; and
(xi)promptly after requested, such other information respecting the business, properties, results of operations, prospects, revenues, condition or operations, financial or otherwise, of such Borrower or any of its Subsidiaries as the Agent or any LC Issuing Bank or any Lender through the Agent may from time to time reasonably request.
Documents required to be delivered pursuant to Section 5.1(h)(ii) or Section 5.1(h)(iii) may be delivered electronically and, if so delivered, shall be deemed to have been delivered on the date (i) on which such Borrower posts such documents, or provides a link thereto, on a website on the internet at a website address previously specified to the Agent and the Lenders; or (ii) on which such documents are posted on such Borrower’s behalf on the Platform or another relevant website, if any, to which each of the Agent and each Lender has access; provided that (i) upon the request of the Agent or any Lender, such Borrower shall deliver paper copies of such documents to the Agent or such Lender (until a written request to cease delivering paper copies is given by the Agent or such Lender) and (ii) such Borrower shall notify (which may be by a facsimile or electronic mail) the Agent and each Lender of the posting of any documents.  The Agent shall have no obligation to request the delivery of, or to maintain copies of, the documents referred to above or to monitor compliance by any Borrower with any such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents.
(i)Use of Proceeds.  Use the proceeds of the Advances hereunder solely to refinance the Existing Credit Agreement, to pay related transaction costs, and for such Borrower’s general corporate purposes (including working capital, interim funding of capital expenditures and supporting commercial paper issued by such Borrower) and, with respect to WPL, in compliance with the Future PSC Order, and not to (y) finance any Hostile Acquisition or (z) purchase or carry any Margin Stock in violation of Federal Reserve Board Regulations T, U or X.
(j)Further Assurances.  At the expense of such Borrower, promptly execute and deliver, or cause to be promptly executed and delivered, all further instruments and documents, and take and cause to be taken all further actions, that may be necessary or that the Majority Lenders through the Agent may reasonably request to enable the Lenders, the LC Issuing Banks and the Agent to enforce the terms and provisions of this Agreement and to exercise their rights and remedies hereunder or under any other Loan Document.  In addition, such Borrower will use all reasonable efforts to duly obtain Governmental Approvals with respect to such Borrower required in connection with the Loan Documents from time to time on or prior to such date as the same may become legally required, and thereafter to maintain all such Governmental Approvals in full force and effect.
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(k)Sanctions, Anti-Corruption, PATRIOT Act and Beneficial Ownership Regulation Compliance.  Such Borrower will, and will cause each of its Subsidiaries to, (i) refrain from doing business in a Sanctioned Country or with a Sanctioned Person in violation of any Sanctions, (ii) provide, to the extent commercially reasonable, such information and take such actions as are reasonably requested by the Agent or any Lender in order to assist the Agent and the Lenders in maintaining compliance with the PATRIOT Act, (iii) comply with all applicable Sanctions and Anti-Corruption Laws, (iv) maintain in effect and enforce policies and procedures designed to ensure compliance by such Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, (v) notify the Agent and each Lender that previously received a Beneficial Ownership Certification of any change in the information provided in the Beneficial Ownership Certification that would result in a change to the list of beneficial owners identified therein and (vi) promptly upon the reasonable request of the Agent or any Lender, provide the Agent or such Lender, as the case may be, any information or documentation requested by it for purposes of complying with the Beneficial Ownership Regulation.
Section 5.2Negative Covenants.  Each Borrower, severally but not jointly, covenants and agrees that, so long as any obligations of such Borrower in respect of this Agreement shall remain unpaid (other than (i) contingent indemnification or expense reimbursement obligations to the extent no claim giving rise thereto has been asserted and (ii) Letter of Credit obligations that have been Cash Collateralized in accordance with the terms hereof), any Lender shall have any Commitment to such Borrower or any Letter of Credit for such Borrower’s account shall remain outstanding, such Borrower will not, without the written consent of the Majority Lenders:
(a)Liens, Etc.  Create, incur, assume, or suffer to exist, or permit any of its Subsidiaries to create, incur, assume, or suffer to exist, any lien, security interest, or other charge or encumbrance (including the lien or retained security title of a conditional vendor) of any kind, or any other type of arrangement intended or having the effect of conferring upon a creditor a preferential interest upon or with respect to any of its properties of any character (including, without limitation, accounts) (any of the foregoing being referred to herein as a “Lien”), excluding, however, from the operation of the foregoing restrictions the Liens created under the Loan Documents and the following:
(i)Liens for taxes, assessments or governmental charges or levies to the extent not past due;
(ii)Liens imposed by law, such as materialmen’s, mechanics’, carriers’, workmen’s and repairmen’s liens and other similar Liens arising in the ordinary course of business securing obligations which are not overdue and which have been in existence less than ninety days, or which are being contested in good faith by appropriate proceedings and for which adequate reserves have been established in accordance with GAAP (if so required);
(iii)pledges or deposits to secure obligations under workmen’s compensation laws or similar legislation, to secure public or statutory obligations of such Borrower or such Subsidiary, or to secure the utility obligations of any such Subsidiary incurred in the ordinary course of business;
(iv)(A) purchase money Liens upon or in property now owned or hereafter acquired by such Borrower or any of its Subsidiaries in the ordinary course of business (consistent with present practices, it being understood that for purposes of this clause, the purchase, construction or maintenance of generating facilities by the Utilities shall be deemed to be in the ordinary course of business and consistent with present practices) to secure (1) the purchase price of such property or (2) Debt incurred solely for the purpose of financing the acquisition, construction or improvement of any such property to be subject to such Liens, or (B) Liens existing on any such property at the time of acquisition, or extensions, renewals or replacements of any of the foregoing for the same or a lesser amount, provided that no such Lien shall extend to or cover any property other than the property being acquired, constructed or improved and replacements, modifications and proceeds of such property, and no such extension, renewal or replacement shall extend to or cover any property not theretofore subject to the Lien being extended, renewed or replaced;
(v)Liens on the capital stock of any of such Borrower’s single-purpose Subsidiaries or any such Subsidiary’s assets to secure the repayment of project financing or Nonrecourse Debt for such Subsidiary;
(vi)attachment, judgment or other similar Liens arising in connection with court proceedings, provided that the execution or other enforcement of such Liens is effectively stayed and the claims secured 
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thereby are being actively contested in good faith by appropriate proceedings or the payment of which is covered in full (subject to customary deductible amounts) by insurance maintained with responsible insurance companies;
(vii)Liens securing obligations under agreements entered into pursuant to the Iowa Industrial New Jobs Training Act or any similar or successor legislation, provided that such obligations do not exceed $5,000,000 in the aggregate at any one time outstanding;
(viii)Liens created pursuant to the Mortgage Bond Indentures;
(ix)Liens on the ownership interests in, and the assets of, any Foreign Subsidiary to secure not more than $300,000,000 aggregate principal amount of Debt of any Foreign Subsidiary; provided that in the event any such Debt is not denominated in Dollars, the calculation of the Dollar equivalent amount of such Debt shall be made as of the date of the incurrence of such Lien securing such Debt;
(x)Liens incurred in connection with the sales of assets permitted in Section 5.2(d)(viii);
(xi)Liens incurred by such Borrower or any of its Subsidiaries on assets of such Borrower and its Subsidiaries to secure Nonrecourse Debt or obligations other than for borrowed money, in an aggregate principal amount not to exceed (x) in the case of Parent and all its Subsidiaries other than the Utilities and their respective Subsidiaries, $100,000,000 outstanding at any one time, and (y) in the case of each Utility and its Subsidiaries, $100,000,000 outstanding at any one time;
(xii)Liens on nuclear fuel granted in connection with any financing arrangement for the purpose of purchasing or leasing such nuclear fuel;
(xiii)Liens constituting easements, restrictions and other similar encumbrances arising in the ordinary course of business, which in the aggregate do not materially adversely affect such Borrower’s use of its properties;
(xiv)Liens set forth in Schedule III hereto, and any extensions, renewals, refinancing or replacements of any such Liens upon or in the same property theretofore subject thereto; 
(xv)Liens of a collection bank arising under Section 4 210 of the Uniform Commercial Code or similar Lien in any foreign jurisdiction on items in the course of collection and normal and customary rights of setoff upon deposits of cash in favor of banks or other depository institutions; and
(xvi)other Liens securing obligations of such Borrower and its Subsidiaries not to exceed more than ten percent (10%) of the consolidated tangible assets (valued at book value) of such Borrower and its Subsidiaries at any time.
(b)Transactions with Affiliates.  Enter into, or permit any of its Subsidiaries to enter into, any transaction with an Affiliate of such Borrower, unless such transaction (i) is on terms no less favorable to such Borrower or such Subsidiary, as the case may be, than if the transaction had been negotiated in good faith on an arm’s length basis with a Person that was not an Affiliate of such Borrower, (ii) is among wholly-owned Subsidiaries of such Borrower or between such Borrower and a wholly-owned Subsidiary or (iii) (A) is permitted by applicable utility or utility holding company regulations or (B) has received all required Government Approvals from each governmental authority exercising jurisdiction over any party thereto, in each case under the foregoing clause (iii) only to the extent such transaction is not materially adverse to the Lenders, the LC Issuing Banks and the Agent.
(c)Mergers, Etc.
(i)merge with or into or consolidate with or into any other Person, except such Borrower may merge with or into or consolidate with or into any of its Subsidiaries, provided that immediately after giving effect thereto, (A) no event shall occur and be continuing that constitutes an Unmatured Default or an Event of Default with respect to such Borrower, (B) such Borrower is the surviving entity, (C) such Borrower shall not be liable with respect to any Debt of such Borrower or allow its property to be subject to any Lien which it 
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could not become liable with respect to or allow its property to become subject to under this Agreement or any other Loan Document on the date of such transaction; or
(ii)permit any of its Subsidiaries to merge with or into or consolidate with or into or divide into any other Person, except that any such Subsidiary may merge with or into any other Person, provided that immediately after giving effect thereto, (A) the surviving entity is a Subsidiary of such Borrower, or, in the case of a division, each surviving entity is a Subsidiary of such Borrower (B) no event shall occur and be continuing that constitutes an Unmatured Default or an Event of Default with respect to such Borrower and (C) such Borrower or any of its Subsidiaries shall not be liable with respect to any Debt of such Borrower or such Subsidiary or allow its property to be subject to any Lien which it could not become liable with respect to or allow its property to become subject to under this Agreement or any other Loan Document on the date of such transaction.
(d)Sales, Etc., of Assets.  Sell, lease, transfer, assign or otherwise dispose of any of its assets, or divide, or permit any of its Subsidiaries to sell, lease, transfer, assign or otherwise dispose of any of its assets, or divide, except  (i) sales, leases, transfers and assignments from one Subsidiary of such Borrower to another such Subsidiary or to such Borrower, (ii) in any transaction in which the net proceeds from such sale, lease, transfer, assignment or disposition are solely Cash and Cash Equivalents and such proceeds are (A) applied solely as a permanent reduction of the Aggregate Commitment and prepayment of Advances made to such Borrower pursuant to Section 2.6 and Section 2.12, or (B) applied solely to pay or prepay Debt (together with a permanent reduction of any commitments relating to such Debt) incurred by such Borrower or any such Subsidiary in connection with the project comprising such assets, (iii) in connection with a sale and leaseback transaction entered into by any Subsidiary of such Borrower, (iv) sales, leases, transfers and assignments of other assets representing not in excess of 25% of the consolidated tangible assets (valued at book value) of such Borrower and its Subsidiaries in the aggregate from the Closing Date until the Termination Date in any single or series of transactions, whether or not related, (v) sales, leases, transfers and assignments of worn out or obsolete equipment no longer used and useful in the business of such Borrower and its Subsidiaries, (vi) sales, leases, transfers and assignments of other assets in the ordinary course of business, (vii) disposition of the investments made by AE Transco Investments, LLC or any successor, or the Equity Interests of AE Transco Investments, LLC or any successor thereto, (viii) dispositions of Equity Interests in or assets of any direct or indirect subsidiary of AEF, and (ix) sales of contracts and accounts receivable by the Utilities, Alliant Energy Corporate Services, Inc., and its Subsidiaries; provided that in each case under clauses (i) through (ix) above, no Unmatured Default or Event of Default with respect to such Borrower shall have occurred and be continuing after giving effect thereto; provided, further, that such Borrower or any of its Subsidiaries may, pursuant to Section 5.2(a)(ix), pledge its ownership interests in, and the assets of, any Foreign Subsidiary of such Borrower to secure not more than $300,000,000 aggregate principal amount of Debt incurred by such Foreign Subsidiary; provided that in the event any such Debt is not denominated in Dollars, the calculation of the Dollar equivalent amount of such Debt shall be made as of the date of the pledge of assets or ownership interests, as the case may be, securing such Debt.
(e)Maintenance of Ownership of Significant Subsidiaries.  Sell, assign, transfer, pledge or otherwise dispose of any Equity Interests of any of its Significant Subsidiaries or any warrants, rights or options to acquire such Equity Interests, or permit any of its Significant Subsidiaries to issue, sell or otherwise dispose of any shares of its Equity Interests or any warrants, rights or options to acquire such capital stock, except (and only to the extent) as may be necessary to give effect to a transaction permitted by Section 5.2(c).  Notwithstanding the foregoing, such Borrower or any of its Subsidiaries may, pursuant to Section 5.2(a)(ix), pledge its ownership interests in, and the assets of, any Foreign Subsidiary of such Borrower to secure not more than $300,000,000 aggregate principal amount of Debt incurred by such Foreign Subsidiary; provided that in the event any such Debt is not denominated in Dollars, the calculation of the Dollar equivalent amount of such Debt shall be made as of the date of the pledge of assets or ownership interests, as the case may be, securing such Debt.
(f)Capitalization Ratio.  Permit the ratio of Consolidated Debt of such Borrower to Consolidated Capital of such Borrower to exceed 0.65 to 1.00.
(g)Restrictive Agreements.  Directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon the ability of any Utility to declare or pay dividends; provided that the foregoing limitations do not apply to (i) financial covenants that require the maintenance of a minimum net worth or compliance with financial tests as conditions to the ability to pay dividends or make other distributions with respect to capital stock or otherwise; (ii) restrictions that arise only if dividends on preferred stock have not been paid; and (iii) limitations or restrictions imposed by law or in regulatory proceedings.
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(h)Sanctions; Anti-Corruption Laws.  No Borrower will request any Extension of Credit, and no Borrower shall use, and shall ensure that none of its Subsidiaries nor its or their respective directors, officers, employees and agents shall use, the proceeds of any Borrowing or Letter of Credit (i) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (ii) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, to the extent such activities, businesses or transaction would be prohibited by Sanctions if conducted by a corporation incorporated in the United States or in a European Union member state, or (iii) in any manner that would result in the violation of any Sanctions applicable to any party hereto.
ARTICLE VI
EVENTS OF DEFAULT
Section 6.1Events of Default.  If any of the following events shall occur and be continuing after the applicable grace period and notice requirement (if any), (i) with respect to Parent, as applicable, such event shall constitute a “Parent Event of Default”, (ii) with respect to IPL, as applicable, such event shall constitute an “IPL Event of Default”, or (iii) with respect to WPL, as applicable, such event shall constitute a “WPL Event of Default”:
(a)Such Borrower shall fail to pay any principal of any Borrowing of such Borrower or any reimbursement obligation in respect of a Letter of Credit issued for the account of such Borrower when the same becomes due and payable; or
(b)Such Borrower shall fail to pay any interest on any Borrowing of such Borrower or any other amount due from such Borrower under this Agreement for five days after the same becomes due; or
(c)Any representation or warranty made by or on behalf of such Borrower in any Loan Document or in any certificate or other writing delivered pursuant thereto shall prove to have been incorrect in any material respect when made or deemed made; or
(d)Such Borrower shall fail to perform or observe any term or covenant on its part to be performed or observed contained in Section 5.1(c), Section 5.1(h)(i) or Section 5.2 (other than Section 5.2(b) thereof); or
(e)Such Borrower shall fail to perform or observe any other term or covenant on its part to be performed or observed contained in this Agreement or in any other Loan Document, and any such failure shall remain unremedied for a period of thirty days after the earlier of (i) actual knowledge by such Borrower thereof, and (ii) receipt of written notice thereof by such Borrower from the Agent; or
(f)Such Borrower or, in the case of Parent, any of its Domestic Subsidiaries, and in the case of IPL or WPL, any of its Significant Subsidiaries, shall fail to make any payment in respect of any of its Debt other than Nonrecourse Debt, including any interest or premium thereon (but excluding Debt hereunder except in the case of Debt incurred hereunder by IPL or WPL in determining whether the Parent is in violation of this provision) aggregating $100,000,000 or more when due under documents related to such Debt (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) and such failure shall continue after the applicable grace period, if any, specified in any agreement or instrument relating to such Debt; or any other default under any agreement or instrument relating to such Debt, or any other event, shall occur and shall continue after the applicable grace period, if any, specified in such agreement or instrument, if the effect of such default or event is to accelerate, or to permit the acceleration of, the maturity of such Debt; or any such Debt shall be declared to be due and payable, or required to be prepaid (other than by a regularly scheduled required prepayment) prior to the stated maturity thereof as a result of a default or other similar adverse event; or
(g)Such Borrower or, in the case of the Parent, any of the Utilities, and in the case of IPL or WPL, any of its Significant Subsidiaries, shall generally not pay its debts as such debts become due, or shall admit in writing its inability to pay its debts generally, or shall make an assignment for the benefit of creditors; or any proceeding shall be instituted by or against such Borrower or, in the case of the Parent, any of the Utilities, and in the case of IPL or WPL, any of its Significant Subsidiaries, seeking to adjudicate it as bankrupt or insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or composition of its debts under any law relating to bankruptcy, insolvency, or reorganization or relief of debtors, or seeking the entry of an order for relief or the 
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appointment of a receiver, trustee, or other similar official for it or for any substantial part of its property and, in the case of a proceeding instituted against such Borrower, or in the case of the Parent, any of the Utilities, and in the case of IPL or WPL, any of its Significant Subsidiaries, either such proceeding shall remain undismissed or unstayed for a period of sixty days or any of the actions sought in such proceeding (including without limitation the entry of an order for relief against such Borrower, such Utility or such Significant Subsidiary of IPL or WPL, as applicable, or the appointment of a receiver, trustee, custodian or other similar official for such Borrower or any of its property) shall occur; or such Borrower, such Utility or such Significant Subsidiary of IPL or WPL, as applicable, shall take any corporate or other action to authorize any of the actions set forth above in this Section 6.1(g); or
(h)Any judgment or order for the payment of money equal to or in excess of $100,000,000 shall be rendered against such Borrower or, in the case of the Parent or WPL, any of its Direct Subsidiaries or their respective properties and, in the case of IPL, any of its Subsidiaries or their respective properties and either (i) enforcement proceedings shall have been commenced by any creditor upon such judgment or order or (ii) there shall be any period of thirty consecutive days during which a stay of enforcement of such judgment or order, by reason of a pending appeal or otherwise, shall not be in effect; provided, however, that any such amount shall be calculated after deducting from the sum so payable any amount of such judgment or order that is covered by a valid and binding policy of insurance in favor of such Borrower or such Subsidiary from an insurer that is rated at least “A” by A.M. Best Company, which policy covers full payment thereof and which insurer has been notified, and has not disputed the claim made for payment, of such amount of such judgment or order; or
(i)Any material provision of any Loan Document to which such Borrower is a party shall for any reason cease to be valid and binding on such Borrower or such Borrower shall so assert in writing; or
(j)Any Governmental Approval with respect to such Borrower required in connection with the execution, delivery and performance of the Loan Documents shall expire or be rescinded, revoked, otherwise terminated, or amended or modified in any manner that is materially adverse to the interests of the Lenders, the LC Issuing Banks and the Agent; or
(k)Any ERISA Event shall have occurred with respect to a Plan or Multiemployer Plan of such Borrower that could reasonably be expected to result in a material liability to such Borrower, and, thirty days after notice thereof shall have been given to such Borrower by the Agent, any LC Issuing Bank or any Lender, such ERISA Event shall still exist; or
(l)With respect to Parent only, (i) Parent shall cease to own 100% of the common equity interests of either Utilities; (ii) any Person or “group” (within the meaning of Section 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended) shall either (A) acquire beneficial ownership of more than 50% of any outstanding class of common stock of Parent having ordinary voting power in the election of directors of Parent or (B) obtain the power (whether or not exercised) to elect a majority of Parent directors, or (iii) the Board of Directors of Parent shall not consist of a majority of Continuing Directors; or
(m)With respect to IPL only, Parent shall fail to own, whether directly or indirectly through one or more direct or indirect wholly-owned Domestic Subsidiaries of Parent, legally or beneficially 100% (by number of votes) of outstanding class of common stock of IPL having ordinary voting power (other than any such failure resulting from any exercise by the Agent or any Bank of their respective remedies in connection with an Event of Default with respect to Parent) or Parent shall cease to have the power (whether or not exercised) to elect a majority of IPL’s directors; or
(n)With respect to WPL only, Parent shall fail to own, whether directly or indirectly through one or more direct or indirect wholly-owned Domestic Subsidiaries of Parent, legally or beneficially 100% (by number of votes) of outstanding class of common stock of WPL having ordinary voting power (other than any such failure resulting from any exercise by the Agent or any Bank of their respective remedies in connection with an Event of Default with respect to Parent) or Parent shall cease to have the power (whether or not exercised) to elect a majority of WPL’s directors.
The Agent shall, with respect to Parent upon the occurrence of a Parent Event of Default, with respect to IPL upon the occurrence of an IPL Event of Default, or with respect to WPL upon the occurrence of a WPL Event of Default, at the request, or may with the consent, of the Majority Lenders, by notice to such affected Borrower, (i) declare the obligation of each Lender to make Advances to such affected Borrower and the obligation of each LC Issuing Bank to issue Letters of Credit for the account of such affected Borrower to be terminated, whereupon the 
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same shall forthwith terminate, (ii) declare the Advances made to such affected Borrower  (if any), all interest thereon and all other amounts payable under this Agreement and the other Loan Documents by such affected Borrower to be forthwith due and payable, whereupon such Advances, all such interest and all such amounts shall become and be forthwith due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by such affected Borrower, (iii) direct such affected Borrower to deposit (and such affected Borrower hereby agrees, forthwith upon receipt of notice of such direction from the Agent, to deposit) with the Agent from time to time such additional amount of cash as is equal to the LC Outstandings with respect to such affected Borrower, such amount to be held by the Agent in the Cash Collateral Account as security for such LC Outstandings as described in Section 6.2 and (iv) exercise all rights and remedies against such affected Borrower available to it under this Agreement, the other Loan Documents and applicable law; provided, however, that in the event of the occurrence of a Bankruptcy Event with respect to such affected Borrower, (A) the obligation of each LC Issuing Bank to issue Letters of Credit for the account of such affected Borrower (and, if such affected Borrower is a Utility, then also for the account of Parent), and the obligation of each Lender to make Advances to such affected Borrower (and, if such affected Borrower is a Utility, then also to Parent) shall automatically be terminated, (B) the Advances made to such affected Borrower (and, if such affected Borrower is a Utility, then also to Parent), all such interest and all other amounts payable by such affected Borrower (and, if such affected Borrower is a Utility, then also by Parent) under this Agreement and the other Loan Documents shall automatically become and be due and payable, without presentment, demand, protest or any notice of any kind, all of which are hereby expressly waived by such affected Borrower (and, if such affected Borrower is a Utility, then also by Parent) and (C) the obligation of such affected Borrower (and, if such affected Borrower is a Utility, then also of Parent) to Cash Collateralize the LC Outstandings with respect to such affected Borrower (and, if such affected Borrower is a Utility, then also with respect to Parent) as aforesaid shall automatically become effective, in each case without further action by the Agent, LC Issuing Bank or any Lender.
Section 6.2Cash Collateral Account.  Notwithstanding anything to the contrary contained herein, no notice given or declaration made by the Agent pursuant to this Article VI shall affect (i) the obligation of any LC Issuing Banks to make any payment under any Letter of Credit issued by it in accordance with the terms of such Letter of Credit or (ii) the obligations of each Lender in respect of each such Letter of Credit; provided, however, that if an Event of Default has occurred and is continuing with respect to a Borrower, the Agent shall at the request, or may with the consent, of the Majority Lenders (except upon the occurrence of a Bankruptcy Event with respect to a Borrower), upon notice to such affected Borrower (and, if such affected Borrower is a Utility, then also to Parent), require such affected Borrower (and, if such affected Borrower is a Utility, then also Parent) to deposit with the Agent an amount in the Cash Collateral Account equal to the LC Outstandings with respect to such affected Borrower (and, if such affected Borrower is a Utility, then also with respect to Parent) on such date (whether or not any beneficiary under any such Letter of Credit shall have drawn or be entitled at such time to draw thereunder), such amount to be held by the Agent in the Cash Collateral Account as security as described in Section 2.4(i).  Upon payment in full, after the termination of such Letters of Credit, of all such obligations, the Agent will repay and reassign to such affected Borrower (and, if such affected Borrower is a Utility, then also to Parent) any cash then in the Cash Collateral Account and the Lien of the Agent on the Cash Collateral Account and the funds therein shall automatically terminate.
ARTICLE VII
THE AGENT
Section 7.1Authorization and Action.  Each of the Lenders (for purposes of this Article VII, references to the Lenders shall also mean the LC Issuing Banks and the Swingline Lender) hereby appoints and authorizes the Agent to take such action as agent on its behalf and to exercise such powers under this Agreement as are delegated to the Agent by the terms hereof, together with such powers as are reasonably incidental thereto.  Except as set forth in Section 7.7, the provisions of this Article VII are solely for the benefit of the Agent and the Lenders, no Borrower shall have any rights as a third-party beneficiary of any of such provisions.  It is understood and agreed that the use of the term “agent” (or any other similar term) herein or in any other Loan Document with reference to the Agent is not intended to connote any fiduciary or other implied (or express) obligations under agency doctrine of any applicable law.  Instead, such term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties.
Section 7.2Exculpatory Provisions. 
(a)The Agent 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 Agent:
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(i)shall not be subject to any fiduciary or other implied duties, regardless of whether a Unmatured Default or Event of 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 Agent is required to exercise as directed in writing by the Majority Lenders; provided that the Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the 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 the Federal Bankruptcy Code or under any other applicable bankruptcy, insolvency or similar law now or hereafter in effect or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any such law; and
(iii)shall not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to any Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Agent or any of its Affiliates in any capacity.
(b)The Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Majority Lenders (or as the Agent shall believe in good faith shall be necessary, under the circumstances as provided in Section 8.1 and Section 6.1), or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment.  The Agent shall be deemed not to have knowledge of any Unmatured Default or Default with respect to any Borrower unless and until notice describing such Unmatured Default or Event of Default is given to the Agent in writing by such Borrower or a Lender.
Section 7.3Reliance by Agent.  The 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.  The 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 an Advance or the issuance, extension, renewal or increase of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of any Lender or any LC Issuing Bank, the Agent may presume that such condition is satisfactory to such Lender or such LC Issuing Bank unless the Agent shall have received notice to the contrary from such Lender or the LC Issuing Bank prior to the making of such Advance or the issuance, extension, renewal or increase of such Letter of Credit.  The Agent may consult with legal counsel (who may be counsel for the Borrowers), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.
Section 7.4Wells Fargo and Affiliates.  With respect to its Commitment and the Advances made by it, Wells Fargo shall have the same rights and powers under this Agreement as any other Lender and may exercise the same as though it were not the Agent or a LC Issuing Bank; and the term “Bank” or “Banks” and “Lender” or “Lenders” shall, unless otherwise expressly indicated, include Wells Fargo in its individual capacity.  Wells Fargo and its Affiliates may accept deposits from, lend money to, act as the financial advisor or the trustee under indentures of, and generally engage in any kind of business with, any Borrower or any Subsidiary or other Affiliate thereof and any Person who may do business with or own securities of any Borrower or any Subsidiary or other Affiliate thereof, all as if Wells Fargo were not the Agent and without any duty to account therefor to the Lenders.
Section 7.5Lender Credit Decision.  Each Lender acknowledges that it has, independently and without reliance upon the Agent or any other Lender and based on the financial statements referred to in Section 4.1(f) and such other documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement.  Each Lender also acknowledges that it will, independently and without reliance upon the Agent or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement.
Section 7.6Indemnification.  The Lenders agree to indemnify the Agent and any Related Party of the Agent participating in the transaction (to the extent not reimbursed by the applicable Borrower), ratably according to (i) on or before the Termination Date, the respective Percentages of the Lenders, or (ii) after the Termination Date, the 
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respective outstanding principal amounts of the Advances made to such Borrower, from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever which may be imposed on, incurred by, or asserted against the Agent in any way relating to or arising out of this Agreement or any action taken or omitted by the Agent under this Agreement; provided that no Lender shall be liable for any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements resulting from the Agent’s gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment.  Without limitation of the foregoing, each Lender agrees to reimburse the Agent promptly upon demand for its ratable share of any out of pocket expenses (including counsel fees) incurred by the Agent in connection with the preparation, execution, delivery, administration, modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under, this Agreement, to the extent that the Agent is not reimbursed for such expenses by such Borrower.
Section 7.7Successor Agent.  The Agent may resign at any time by giving written notice thereof to the Lenders and the Borrowers.  Upon any such resignation, the Majority Lenders shall have the right to appoint a successor Agent, which shall be a Lender or shall be another commercial bank or trust company (and reasonably acceptable to the Borrowers so long as no Unmatured Default or Event of Default exists) organized under the laws of the United States or of any state thereof.  If no successor Agent shall have been so appointed by the Majority Lenders, and shall have accepted such appointment, within thirty days after the retiring Agent’s giving of notice of resignation (the “Resignation Effective Date”), then the retiring Agent shall, on behalf of the Lenders, appoint a successor Agent, which shall be a Lender or shall be another commercial bank or trust company organized under the laws of the United States of any state thereof reasonably acceptable to the Borrowers; provided that in no event shall any such successor Agent be a Defaulting Lender.  Regardless of whether a successor has been appointed or has accepted such appointment, such resignation of the retiring Agent shall become effective in accordance with such notice on the Resignation Effective Date.  Notwithstanding the foregoing, if either the Majority Lenders or any Borrower have not accepted the appointment of a successor Agent or no successor Agent has accepted appointment to act as the Agent hereunder as of the Resignation Effective Date, then the Majority Lenders shall be deemed to have succeeded to and become vested with all the rights, powers, privileges and duties of the retiring Agent as of the Resignation Effective Date.  With effect from the Resignation Effective Date, (i) the retiring Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents and (ii) except for any indemnity payments owed to the retiring Agent, all payments, communications and determinations provided to be made by, to or through the Agent shall instead be made by or to each Lender directly, until such time, if any, as the Majority Lenders appoint a successor administrative agent as provided for in this Section 7.7.  Upon the acceptance of any appointment as Agent hereunder by a successor Agent, such successor Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Agent, and the retiring Agent shall be discharged from its duties and obligations under this Agreement.  After any retiring Agent’s resignation or removal hereunder as Agent, the provisions of this Article VII and Section 8.4 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Agent under this Agreement.
Section 7.8Delegation of Duties.  The 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 Agent; provided, however, that the Agent shall remain responsible for the performance of its duties under this Agreement and the Loan Documents to the extent required under this Article VII.  The 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 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 the Agent.
Section 7.9No Other Duties, Etc.  Anything herein to the contrary notwithstanding, none of the Joint Arrangers, Syndication Agent, Documentation Agents or other agents listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Agent or a Lender hereunder.
Section 7.10Agent May File Proofs of Claim.  In case of the pendency of any proceeding under the Federal Bankruptcy Code or under any other applicable bankruptcy, insolvency or similar law now or hereafter in effect or any other judicial proceeding relative to any Borrower, the Agent (irrespective of whether the principal of any Advance made to such Borrower or reimbursement obligation of such Borrower shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Agent shall have made any demand on such Borrower) shall be entitled and empowered (but not obligated) by intervention in such proceeding or 
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otherwise (i) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of such Advances, reimbursement obligations and all other obligations that are owing and unpaid by such Borrower and to file such other documents as may be necessary advisable in order to have the claims of the Lenders and the Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders and the Agent and their respective agents, sub-agents and counsel and all other amounts due the Lenders and the Agent under Section 2.5 and Section 8.4) allowed in such judicial proceeding and (ii) to collect and receive any monies or other property payable or deliverable by such Borrower on any such claims and to distribute the same.  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 Agent and, in the event that the Agent shall consent to the making of such payments to the Lenders, to pay to the Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Agent and its agents, sub-agents and counsel, and any other amounts due the Agent under Section 2.5 or Section 8.4.
Section 7.11LC Issuing Bank and Swingline Lender.  The provisions of this Article VII (other than Section 7.4) shall apply to the LC Issuing Banks and Swingline Lender mutatis mutandis to the same extent as such provisions apply to the Agent.
Section 7.12Certain 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 Agent, each Joint Arranger and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of any Borrower, that at least one of the following is and will be true: 
(i)such Lender is not using “plan assets” (within the meaning of 29 CFR § 2510.3-101, as modified by Section 3(42) of ERISA) of one or more Benefit Plans in connection with the Advances, the Letters of Credit or the Commitments; 
(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 Advances, 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 Advances, the Letters of Credit, the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Advances, 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 Advances, 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 Agent, in its sole discretion, and such Lender. 
(b)In addition, unless sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or such Lender has not provided another representation, warranty and covenant as provided in 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 Agent, each Joint Arranger and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of any Borrower, that none of the Agent, any Joint Arranger nor any of their respective Affiliates is 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 Advances, the 
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Letters of Credit, the Commitments and this Agreement (including in connection with the reservation or exercise of any rights by the Agent under this Agreement, any Loan Document or any documents related to hereto or thereto).
Section 7.13Erroneous Payments.
(a)Each Lender, each LC Issuing Bank, and any other party hereto hereby severally agrees that if (i) the Agent notifies (which such notice shall be conclusive absent manifest error) such Lender or LC Issuing Bank (or the Lender Affiliate) or any other Person that has received funds from the Agent or any of its Affiliates, either for its own account or on behalf of a Lender or LC Issuing Bank (each such recipient, a “Payment Recipient”) that the Agent has determined in its sole discretion that any funds received by such Payment Recipient were erroneously transmitted to, or otherwise erroneously or mistakenly received by, such Payment Recipient (whether or not known to such Payment Recipient) or (ii) any Payment Recipient receives any payment from the Agent (or any of its Affiliates) (x) that is in a different amount than, or on a different date from, that specified in a notice of payment, prepayment or repayment sent by the Agent (or any of its Affiliates) with respect to such payment, prepayment or repayment, as applicable, (y) that was not preceded or accompanied by a notice of payment, prepayment or repayment sent by the Agent (or any of its Affiliates) with respect to such payment, prepayment or repayment, as applicable, or (z) that such Payment Recipient otherwise becomes aware was transmitted or received in error or by mistake (in whole or in part) then, in each case, an error in payment shall be presumed to have been made (any such amounts specified in clauses (i) or (ii) of this Section 7.13(a), whether received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise; individually and collectively, an “Erroneous Payment”), then, in each case, such Payment Recipient is deemed to have knowledge of such error at the time of its receipt of such Erroneous Payment; provided that nothing in this Section shall require the Agent to provide any of the notices specified in clauses (i) or (ii) above. Each Payment Recipient agrees that it shall not assert any right or claim to any Erroneous Payment, and hereby waives any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand, claim or counterclaim by the Agent for the return of any Erroneous Payments, including without limitation waiver of any defense based on “discharge for value” or any similar doctrine.
(b)Without limiting the immediately preceding clause (a), each Payment Recipient agrees that, in the case of clause (a)(ii) above, it shall promptly notify the Agent in writing of such occurrence.
(c)In the case of either clause (a)(i) or (a)(ii) above, such Erroneous Payment shall at all times remain the property of the Agent and shall be segregated by the Payment Recipient and held in trust for the benefit of the Agent, and upon demand from the Agent such Payment Recipient shall (or, shall cause any Person who received any portion of an Erroneous Payment on its behalf to), promptly, but in all events no later than one Business Day thereafter, return to the Agent the amount of any such Erroneous Payment (or portion thereof) as to which such a demand was made in Same Day Funds and in the currency so received, together with interest thereon in respect of each day from and including the date such Erroneous Payment (or portion thereof) was received by such Payment Recipient to the date such amount is repaid to the Agent at the Overnight Rate.
(d)In the event that an Erroneous Payment (or portion thereof) is not recovered by the Agent for any reason, after demand therefor by the Agent in accordance with immediately preceding clause (c), from any Lender that is a Payment Recipient or an Affiliate of a Payment Recipient (such unrecovered amount as to such Lender, an “Erroneous Payment Return Deficiency”), then at the sole discretion of the Agent and upon the Agent’s written notice to such Lender (i) such Lender shall be deemed to have made a cashless assignment of the full face amount of the portion of its Loans (but not its Commitments) of the relevant Class with respect to which such Erroneous Payment was made (the “Erroneous Payment Impacted Class”) to the Agent or, at the option of the Agent, the Agent’s applicable lending affiliate in an amount that is equal to the Erroneous Payment Return Deficiency (or such lesser amount as the Agent may specify) (such assignment of the Loans (but not Commitments) of the Erroneous Payment Impacted Class, the “Erroneous Payment Deficiency Assignment”) plus any accrued and unpaid interest on such assigned amount, without further consent or approval of any party hereto and without any payment by the Agent or its applicable lending affiliate as the assignee of such Erroneous Payment Deficiency Assignment.  Without limitation of its rights hereunder, the Agent may cancel any Erroneous Payment Deficiency Assignment at any time by written notice to the applicable assigning Lender and upon such revocation all of the Loans assigned pursuant to such Erroneous Payment Deficiency Assignment shall be reassigned to such Lender without any requirement for payment or other consideration.  The parties hereto acknowledge and agree that (1) any assignment contemplated in this clause (d) shall be made without any requirement for any payment or other consideration paid by the applicable assignee or received by the assignor, (2) the provisions of this clause (d) shall govern in the event of any conflict with the terms and conditions of Section 8.7 and (3) the Agent may reflect such assignments in the Register without further consent or action by any other Person.
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(e)Each party hereto hereby agrees that (x) in the event an Erroneous Payment (or portion thereof) is not recovered from any Payment Recipient that has received such Erroneous Payment (or portion thereof) for any reason, the Agent (1) shall be subrogated to all the rights of such Payment Recipient with respect to such amount and (2) is authorized to set off, net and apply any and all amounts at any time owing to such Payment Recipient under any Loan Document, or otherwise payable or distributable by the Agent to such Payment Recipient from any source, against any amount due to the Agent under this Section 7.13 or under the indemnification provisions of this Agreement, (y) the receipt of an Erroneous Payment by a Payment Recipient shall not for the purpose of this Agreement be treated as a payment, prepayment, repayment, discharge or other satisfaction of any Obligations owed by the Borrower or any other Loan Party, except, in each case, to the extent such Erroneous Payment is, and solely with respect to the amount of such Erroneous Payment that is, comprised of funds received by the Agent from the Borrower or any other Loan Party for the purpose of making for a payment on the Obligations and (z) to the extent that an Erroneous Payment was in any way or at any time credited as payment or satisfaction of any of the Obligations, the Obligations or any part thereof that were so credited, and all rights of the Payment Recipient, as the case may be, shall be reinstated and continue in full force and effect as if such payment or satisfaction had never been received.  Without limiting the applicability of any other provision of this Agreement, this Section 7.13 shall not be interpreted to increase (or accelerate the due date for), or have the effect of increasing (or accelerating the due date for), the Obligations relative to the amount (and/or timing for payment) of the Obligations that would have been payable had such Erroneous Payment not been made by the Agent.
(f)Each party’s obligations under this Section 7.13 shall survive the resignation or replacement of the Agent or any transfer of right or obligations by, or the replacement of, a Lender, the termination of the Commitments or the repayment, satisfaction or discharge of all Obligations (or any portion thereof) under any Loan Document.
(g)Nothing in this Section 7.13 will constitute a waiver or release of any claim of any party hereunder arising from any Payment Recipient’s receipt of an Erroneous Payment.
Section 7.14The provisions of this Article VII (other than Section 7.4) shall apply to the LC Issuing Banks and Swingline Lender mutatis mutandis to the same extent as such provisions apply to the Agent.
ARTICLE VIII
MISCELLANEOUS
Section 8.1Amendments, Etc.  No amendment or waiver of any provision of any Loan Document (except as specifically provided in Section 2.14(b)), nor consent to any departure by any Borrower therefrom, shall in any event be effective unless the same shall be in writing and signed by the Majority Lenders and, in the case of any amendment, the Borrowers, and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided, however, that no amendment, waiver or consent shall:  (a) waive, modify or eliminate any of the conditions specified in Section 3.1 or Section 3.2 without the written consent of each Lender; (b) increase or extend the Commitments of any Lender without the written consent of such Lender, (c) reduce the principal of, or interest on, the Advances, any Applicable Margin or any fees or other amounts payable hereunder (other than fees payable to the Agent, the Joint Arrangers or any LC Issuing Bank for their own account, or to any Lender pursuant to, Section 2.13 or Section 2.17) without the written consent of each Lender directly affected thereby, (d) postpone any date fixed for any payment of principal of, or interest on, the Advances, any reimbursement obligation in respect of Letters of Credit or any fees or other amounts payable hereunder without the written consent of each Lender directly affected thereby, (e) change the percentage of the Commitments or of the aggregate unpaid principal amount of the Advances, or the number of Lenders, which shall be required for the Lenders or any of them to take any action hereunder without the written consent of each Lender, (f) amend this Section 8.1 without the written consent of each Lender, or (g) change or waive any provision of Section 2.18 or any other provision of this Agreement or any other Loan Document requiring pro rata treatment of the Lenders in a manner that would alter the pro rata treatment of Lenders required thereby without the written consent of each Lender; and provided, further, that (i) no amendment, waiver or consent shall affect the rights or duties of the Agent, the Swingline Lender or any LC Issuing Banks under this Agreement or any Note, unless such amendment, waiver or consent is in writing and signed by the Agent, the Swingline Lender and each LC Issuing Bank, as the case may be, in addition to the Lenders required above to take such action, (ii) that no amendment, waiver or consent shall change or waive any provision of Section 2.13 or Section 2.17, unless such amendment, waiver or consent is in writing and signed by each Lender directly affected thereby, in addition to the Lenders required above to take such action and (iii) that this Agreement may be amended and restated without the consent of any Lender, the Swingline Lender, any LC Issuing Bank or the Agent if, upon giving effect to such amendment and restatement, such Lender, such LC Issuing Bank or the Agent, as 
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the case may be, shall no longer be a party to this Agreement (as so amended and restated) or have any Commitment or other obligation hereunder or under any Letter of Credit and shall have been paid in full all amounts payable hereunder to such Lender, the Swingline Lender, such LC Issuing Bank or the Agent, as the case may be. Anything herein to the contrary notwithstanding, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except that in no event shall any amendment, waiver or consent purport to (A) increase or extend the Commitments of such Defaulting Lender, (B) reduce the principal of, or interest on, the Advances made by such Defaulting Lender, or any Applicable Margin or any fees or other amounts payable to such Defaulting Lender, (C) postpone any date fixed for any payment of principal of, or interest on, the Advances made by such Defaulting Lender, or (D) amend this Section 8.1 in a manner that affects such Defaulting Lender adversely, in each case without the affirmative consent of such Defaulting Lender, provided that if any such amendment, waiver or consent has been approved by all Lenders which are not Defaulting Lenders, and such Defaulting Lender shall have failed to have furnished either its approval or disapproval of such amendment, waiver or consent within the period of ten Business Days after its receipt of a written request to do so, then such Defaulting Lender shall be deemed to have given its affirmative consent.
Section 8.2Notices, Etc.  
(a)All notices and other communications provided for hereunder and under the other Loan Documents shall be in writing (including facsimile communication) and mailed, facsimiled or delivered to the applicable party as follows: (a) if to any Borrower, the Agent, any LC Issuing Bank or the Swingline Lender, to it at the address (or facsimile number) specified for such Person on Schedule I hereto and (b) if to any Bank, to it at its address (or facsimile number) set forth in its Administrative Questionnaire; or, as to each party, at such other address as shall be designated by such party in a written notice to the other parties.  All such notices and communications shall (i) when mailed, be effective five days after being deposited in the mails, (ii) when facsimiled, be effective on dispatch, or (iii) when given by express courier service, be effective upon delivery, except, in the case of clauses (i) and (ii), that notices and communications to the Agent pursuant to Article II or Article VII shall not be effective until received by the Agent. Any notice or communication given hereunder but not received on a Business Day or received after 5:00 p.m. on a Business Day in the place of receipt will be deemed to be given on the next Business Day in that place.
(b)The Borrowers agree that the Agent may make the Communications (as defined below) available to the Lenders by posting the Communications on the Platform.  The Platform is provided “as is” and “as available.”  The Agent Parties (as defined below) do not warrant the adequacy of the Platform and expressly disclaim liability for errors or omissions in the Communications.  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 Communications or the Platform.  In no event shall the Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to the Borrowers, any Lender or any other Person or entity for damages of any kind, including direct or indirect, special, incidental or consequential damages, losses or expenses (whether in tort, contract or otherwise) arising out of any Borrower’s or the Agent’s transmission of communications through the Platform.  “Communications” means, collectively, any notice, demand, communication, information, document or other material provided by or on behalf of any Borrower pursuant to this Agreement or the transactions contemplated herein that is distributed to the Agent or any Lender by means of electronic communications pursuant to this Section, including through the Platform.
Section 8.3No Waiver; Remedies.  No failure on the part of any Lender, the Swingline Lender, any LC Issuing Bank or the Agent to exercise, and no delay in exercising, any right hereunder or under any Note shall operate as a waiver thereof; nor shall any single or partial exercise of any such right preclude any other or further exercise thereof or the exercise of any other right.  The remedies herein provided are cumulative and not exclusive of any remedies provided by law.
Section 8.4Costs, Expenses, Taxes and Indemnification.
(a)Each Borrower agrees, severally and not jointly, to pay on demand its Applicable Share of all costs and expenses of the Agent and the Joint Arrangers in connection with the preparation (including, without limitation, printing costs), syndication, negotiation, execution, delivery, modification and amendment of this Agreement and the other Loan Documents, and the other documents and instruments to be delivered hereunder and thereunder, including, without limitation, the reasonable fees and out of pocket expenses of counsel for the Agent and the Joint Arrangers with respect thereto and with respect to the administration of, and advising the Agent as to its rights and responsibilities under, this Agreement and the other Loan Documents, all subject to the Applicable Percentage described in the Fee Letters for fees incurred in connection with the initial closing of the transactions described 
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herein.  Each Borrower further agrees to pay on demand its Applicable Share of all costs and expenses, if any (including, without limitation, reasonable counsel fees and expenses of the Agent, each LC Issuing Bank and each Lender), in connection with the enforcement and workout (whether through negotiations, legal proceedings or otherwise) of this Agreement and the other Loan Documents and the other documents and instruments to be delivered hereunder and thereunder (unless such cost or expense is attributable to a specific Borrower, in which case such Borrower shall be solely liable for such amount), including, without limitation, reasonable counsel fees and expenses in connection with the enforcement of rights under this Section 8.4.  In addition, each Borrower shall pay its Applicable Share of any and all Other Taxes payable or determined to be payable in connection with the execution and delivery of this Agreement and the other Loan Documents, and the other documents and instruments to be delivered hereunder and thereunder, and agrees to save the Agent, each LC Issuing Bank and each Lender harmless from and against any and all liabilities with respect to or resulting from any delay by such Borrower in paying or omission to pay such Other Taxes.  This Section 8.4(a) shall not apply with respect to Taxes or Excluded Taxes other than any Taxes or Excluded Taxes that represent liabilities arising from any non-Tax or non-Excluded Tax claim.
(b)Each Borrower, severally and not jointly, hereby agrees to indemnify and hold each Lender, the Agent (and any sub-agent thereof), the Joint Arrangers, the Swingline Lender, each LC Issuing Bank and each Related Party of any of the foregoing Persons (each, an “Indemnified Person”) harmless from and against any and all claims, damages, losses, liabilities, costs or expenses (including reasonable attorney’s fees and expenses, whether or not such Indemnified Person is named as a party to any proceeding or is otherwise subjected to judicial or legal process arising from any such proceeding) which any of them may incur or which may be claimed against any of them by any Person including any Borrower (except for such claims, damages, losses, liabilities, costs and expenses resulting from such Indemnified Person’s gross negligence or willful misconduct, a material breach of such Indemnified Person’s obligations hereunder or under any other Loan Document, each as determined in a final and nonappealable judgment by a court of competent jurisdiction or any dispute solely among Indemnified Persons (not arising from any act or omission of a Borrower) other than claims against an Indemnified Person acting in its capacity as, or in fulfilling its role as, the Agent or Joint-Arrangers under this Agreement or the other Loan Documents) in each case to the extent of such Borrower’s Applicable Share (unless attributable to a specific Borrower, in which case such Borrower shall be solely liable):
(i)by reason of or resulting from the execution, delivery or performance of any of the Loan Documents or any transaction contemplated thereby, or the use by such Borrower of the proceeds of any Advance or the use by such Borrower or any beneficiary of any Letter of Credit of such Letter of Credit;
(ii)in connection with any documentary taxes, assessments or charges made by any Governmental Authority by reason of the execution and delivery of any of the Loan Documents;
(iii)in connection with or resulting from the utilization, storage, disposal, treatment, generation, transportation, release or ownership of any Hazardous Substance (A) at, upon, or under any property of such Borrower or any of its Affiliates or (B) by or on behalf of such Borrower or any of its Affiliates at any time and in any place; or
(iv)in connection with or resulting from the use by unintended recipients of any information or other materials distributed by it through the internet, the Platform or other similar transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby.
In case any action or proceeding is instituted involving any Indemnified Person for which indemnification is to be sought hereunder by such Indemnified Person, then such Indemnified Person will promptly notify the applicable Borrower of the commencement of any action or proceeding; provided, however, that the failure to notify such Borrower will not relieve such Borrower from any liability that such Borrower may have to such Indemnified Person pursuant hereto or from any liability that it may have to such Indemnified Person other than pursuant hereto.  Notwithstanding the above, following such notification, such Borrower may elect in writing to assume the defense of such action or proceeding, and, upon such election, such Borrower will not, as long as it diligently conducts such defense, be liable for any legal costs subsequently incurred by such Indemnified Person (other than reasonable costs of investigation and providing evidence) in connection therewith, unless (i) such Borrower has failed to provide counsel reasonably satisfactory to such Indemnified Person in a timely manner, (ii) the Indemnified Person determines in good faith that joint representation would be inappropriate, including any actual or potential conflict of interest or (iii) the Indemnified Person reasonably determines that there may be legal defenses available to it which are different from, or in addition to those available to such Borrower.  If a Borrower assumes the defense of any such 
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action or proceeding, (a) it will be conclusively established for purposes of this Agreement that the claims made with respect thereto are subject to indemnification hereunder; (b) no compromise or settlement of such claims may be effected by such Borrower without the Indemnified Person’s consent and (c) the Indemnified Person will have no liability with respect to any compromise or settlement of such claims effected without its consent.  Notwithstanding the foregoing, if any Indemnified Person determines in good faith that there is a reasonable probability that any action or proceeding may adversely affect it or its affiliates other than as a result of monetary damages for which it would be entitled to indemnification hereunder, such Indemnified Person may, by notice to the applicable Borrower, assume the exclusive right to defend, compromise, or settle such action or proceeding, but such Borrower will not be bound (but will retain its indemnification obligations hereunder) by any determination of an action or proceeding so defended or any compromise or settlement effected without its consent (which may not be unreasonably withheld).  In connection with any one action or proceeding, no Borrower will be responsible for the fees and expenses of more than one separate law firm (in addition to local counsel) for all Indemnified Persons and, in the case of an actual or perceived conflict of interest, one additional counsel in each relevant jurisdiction to the affected Indemnified Person(s) selected and retained by such Indemnified Person(s).ttt
(c)To the extent that any Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section 8.4 to be paid by it to the Agent (or any sub-agent thereof), any LC Issuing Bank, any Swingline Lender or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Agent (or any such sub-agent), such LC Issuing Bank, such Swingline Lender 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 based on each Lender’s Credit Exposure at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); 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 the Agent (or any such sub-agent), such LC Issuing Bank or the Swingline Lender in its capacity as such, or against any Related Party of any of the foregoing acting for the Agent (or any such sub-agent), any LC Issuing Bank or the Swingline Lender in connection with such capacity.  The obligations of the Lenders under this paragraph (c) are subject to the provisions of Section 2.3(b).
(d)Each Borrower will compensate each Lender upon demand for its Applicable Share of all losses, reasonable and documented expenses and liabilities (including, without limitation, any loss, reasonable and documented expense or liability incurred by reason of the liquidation or reemployment of deposits or other funds required by such Lender to fund or maintain Eurodollar Rate Advances) that such Lender may incur or sustain (unless attributable to a specific Borrower, in which case such Borrower shall be solely liable) (i) if for any reason (other than a default by such Lender) a Borrowing or continuation of, or Conversion into, a Eurodollar Rate Advance does not occur on a date specified therefor in a Notice of Borrowing or Notice of Conversion, (ii) if any repayment, prepayment or Conversion of any Eurodollar Rate Advance occurs on a date other than the last day of an Interest Period applicable thereto (including as a consequence of any assignment made pursuant to Section 2.21 or any acceleration of the maturity of the Advances pursuant to Section 6.1), (iii) if any prepayment of any Eurodollar Rate Advance is not made on any date specified in a notice of prepayment given by such Borrower or (iv) as a consequence of any other failure by such Borrower to make any payments with respect to any Eurodollar Rate Advance when due hereunder.  Calculation of all amounts payable to a Lender under this Section 8.4(d) shall be made as though such Lender had actually funded its relevant Eurodollar Rate Advance through the purchase of a eurodollar deposit bearing interest at the Eurodollar Rate Advance in an amount equal to the amount of such Eurodollar Rate Advance, having a maturity comparable to the relevant Interest Period; provided, however, that each Lender may fund its Eurodollar Rate Advances in any manner it sees fit and the foregoing assumption shall be utilized only for the calculation of amounts payable under this Section 8.4(d).  A certificate (which shall be in reasonable detail) showing the bases for the determinations set forth in this Section 8.4(d) by any Lender as to any additional amounts payable pursuant to this Section 8.4(d) shall be submitted by such Lender to the applicable Borrower either directly or through the Agent.  Determinations set forth in any such certificate made in good faith for purposes of this Section 8.4(d) of any such losses, expenses or liabilities shall be conclusive absent manifest error.
(e)To the fullest extent permitted by applicable law, no Borrower shall assert, and each hereby waives, any claim against each Lender, the Agent (and any sub-agent thereof), the Joint Arrangers, the Swingline Lender, each LC Issuing Bank and each Related Party of any of the foregoing Persons (the “Lender-Related Parties”), on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof.  No Lender-Related Party shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed by it through telecommunications, 
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electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby.
(f)Each Borrower’s obligations under this Section 8.4 shall survive the repayment of all amounts owing to the Lenders hereunder and the termination of the Commitments.  If and to the extent that the obligations of such Borrower under this Section 8.4 are unenforceable for any reason, such Borrower agrees to make the maximum contribution to the payment and satisfaction thereof which is permissible under applicable law.
Section 8.5Right of Set-off.
(a)Upon (i) the occurrence and during the continuance of any Event of Default with respect to such Borrower and (ii) the making of the request or the granting of the consent by the Majority Lenders specified by Section 6.1 to authorize the Agent to declare all amounts owing hereunder by such Borrower due and payable pursuant to the provisions of Section 6.1, each Lender, each LC Issuing Bank and each of their respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness at any time owing by such Lender, such LC Issuing Bank or Affiliate to or for the credit or the account of such Borrower against any and all of the obligations of such Borrower now or hereafter existing under any Loan Document, irrespective of whether or not such Lender, such LC Issuing Bank or Affiliate shall have made any demand under such Loan Document and although such obligations may be unmatured or contingent or are owed to a branch, office or Affiliate of such Lender or such LC Issuing Bank different from the branch, office or Affiliate holding such deposit or obligated on such indebtedness; provided that in the event that any Defaulting Lender shall exercise any such right of set-off, (x) all amounts so set off shall be paid over immediately to the Agent for further application in accordance with the provisions of Section 2.22 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 Agent, the LC Issuing Banks, and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Agent a statement describing in reasonable detail the obligations owing to such Defaulting Lender as to which it exercised such right of set-off.  Each Lender agrees promptly to notify the applicable Borrower after any such set-off and application made by such Lender, provided that the failure to give such notice shall not affect the validity of such set-off and application.  The rights of each Lender under this Section 8.5 are in addition to other rights and remedies (including, without limitation, other rights of set-off) which such Lender may have.
(b)Each Borrower agrees that it shall have no right of set-off, deduction or counterclaim in respect of its obligations hereunder, and that the obligations of the Lenders hereunder are several and not joint.  Nothing contained herein shall constitute a relinquishment or waiver of any Borrower’s rights to any independent claim that such Borrower may have against the Agent, any LC Issuing Bank or any Lender for the Agent’s, such LC Issuing Bank’s or such Lender’s, as the case may be, gross negligence or willful misconduct; provided that no Lender shall be liable for the conduct of the Agent, any LC Issuing Bank or any other Lender; provided, further, that the Agent shall not be liable for the conduct of any Lender or any LC Issuing Bank, and no LC Issuing Bank shall be liable for the conduct of any Lender or the Agent.
Section 8.6Binding Effect.  This Agreement shall become effective when it shall have been executed by each Borrower and the Agent and when the Agent shall have been notified in writing by each Bank that such Bank has executed it and thereafter shall be binding upon and inure to the benefit of each Borrower, the Agent, each LC Issuing Bank and each Lender and their respective successors and assigns, except that no Borrower shall have the right to assign its rights hereunder or any interest herein without the prior written consent of the Lenders.
Section 8.7Assignments and Participations.
(a)Assignment by Lenders.  Each Lender may assign to one or more Eligible Assignees all or a portion of its rights and obligations under the Loan Documents (including, without limitation, all or a portion of its Commitment, the Advances owing to it, its participations in Letters of Credit and Swingline Advances, and the Note or Notes (if any) held by it); provided, however, that (w) each such assignment shall be of a constant, and not a varying, percentage of all of the assigning Lender’s rights and obligations under the Loan Documents, (x) the amount of the Commitment of the assigning Lender being assigned pursuant to each such assignment (determined as of the date of the Lender Assignment with respect to such assignment) shall in no event be less than the lesser of the amount of such Lender’s then remaining Commitment and $5,000,000 or any whole multiple of $1,000,000 in excess thereof (except in the case of assignments between Lenders at the time already parties hereto and between a Lender and an Affiliate of such Lender or Approved Fund), (y) except as set forth in clause (ii) below, the Agent, each LC Issuing 
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Bank, the Swingline Lender and, so long as no Unmatured Default or Event of Default with respect to such Borrower shall have occurred and be continuing, each Borrower, shall have consented to such assignment (in each case, which may not be unreasonably withheld or delayed); provided that each Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Agent within ten Business Days after having received notice thereof, and (z) the parties to each such assignment shall execute and deliver to the Agent, for its acceptance and recording in the Register, a Lender Assignment, together with any Note or Notes (if any) subject to such assignment and a processing and recordation fee of $3,500.  Promptly following its receipt of such Lender Assignment, Note or Notes (if any) and fee, the Agent shall accept and record such Lender Assignment in the Register.  
(i)Upon such execution, delivery, acceptance and recording, from and after the effective date specified in each Lender Assignment, (x) the assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Lender Assignment, have the rights and obligations of a Lender hereunder and (y) the Lender assignor thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Lender Assignment, relinquish its rights and be released from its obligations under this Agreement (and, in the case of a Lender Assignment covering all or the remaining portion of an 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 Section 2.13, Section 2.17, and Section 8.4 with respect to facts and circumstances occurring prior to the effective date of such assignment); provided, that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.  
(ii)Notwithstanding anything to the contrary contained in this Agreement, any Lender may at any time, with notice to the Borrowers, the Agent and the LC Issuing Banks, assign all or any portion of its Commitment, and the Advances, participations in Letters of Credit and Swingline Advances owing to any of the Banks listed on the signature pages hereof, any Additional Lender that shall become a party hereto pursuant to Section 8.7(a)(i), any Affiliate of such a Lender or any Approved Fund that is an Affiliate of a Lender; provided, however, that each LC Issuing Bank and the Swingline Lender shall have consented to such assignment (in each case, which may not be unreasonably withheld or delayed).  No such assignment, other than to any of the Banks listed on the signature pages hereof, any Additional Lender that shall become a party hereto pursuant to Section 8.7(a)(i), any Affiliate of such a Lender or any Approved Fund that is an Affiliate of a Lender shall release the assigning Lender from its obligations hereunder.
(iii)By executing and delivering a Lender Assignment, the Lender assignor thereunder and the assignee thereunder confirm to and agree with each other and the other parties hereto as follows: (i) other than as provided in such Lender Assignment, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with any Loan Document or the execution, legality, validity, enforceability, genuineness, sufficiency or value of any Loan Document or any other instrument or document furnished pursuant thereto; (ii) such assigning Lender makes no representation or warranty and assumes no responsibility with respect to the financial condition of any Borrower or the performance or observance by any Borrower of any of its obligations under any Loan Document or any other instrument or document furnished pursuant thereto; (iii) such assignee confirms that it has received a copy of each Loan Document, together with copies of the financial statements referred to in Section 4.1(f) hereof and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such Lender Assignment; (iv) such assignee will, independently and without reliance upon the Agent, such assigning Lender or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents; (v) such assignee confirms that it is an Eligible Assignee; (vi) such assignee appoints and authorizes the Agent to take such action as agent on its behalf and to exercise such powers under the Loan Documents as are delegated to the Agent by the terms thereof, together with such powers as are reasonably incidental thereto; and (vii) such assignee agrees that it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender.
(iv)No such assignment shall be made to (i) any Borrower or any Affiliates or Subsidiaries of any Borrower, (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 (ii), (iii) a natural 
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Person (or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural Person) or (iv) any Person that is subject to Sanctions.
(v)In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Agent in an aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or sub-participations, or other compensating actions, including funding, with the consent of each Borrower and the Agent, the applicable pro rata share of Advances previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (i) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Agent, each LC Issuing Bank, the Swingline Lender and each other Lender hereunder (and interest accrued thereon), and (ii) acquire (and fund as appropriate) its full pro rata share of all Advances and participations in Letters of Credit and Swingline Advances. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable law without compliance with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs.
(b)The Agent shall maintain at its address referred to in Section 8.2 a copy of each Lender Assignment delivered to and accepted by it and a register for the recordation of the names and addresses of the Lenders and the Commitment of, and principal amount of the Advances owing to, each Lender from time to time (the “Register”).  The entries in the Register shall be conclusive and binding for all purposes, absent manifest error, and the Borrowers, the Agent and the Lenders may treat each Person whose name is recorded in the Register as a Lender hereunder for all purposes of this Agreement.  In addition, the Agent shall maintain on the Register information regarding the designation, revocation of designation, of any Lender as a Designated Lender. The Register shall be available for inspection by any Borrower or any Lender at any reasonable time and from time to time upon reasonable prior notice.  Upon its receipt of a Lender Assignment executed by an assigning Lender and an assignee representing that it is an Eligible Assignee, together with any Note or Notes (if any) subject to such assignment, the Agent shall, if such Lender Assignment has been completed and is in substantially the form of Exhibit 8.7 hereto, (i) accept such Lender Assignment, (ii) record the information contained therein in the Register and (iii) give prompt notice thereof to the Borrowers.
(c)Participations.  Each Lender may sell participations to any Person (other than a natural Person or any Borrower or any Affiliates or Subsidiaries of any Borrower) (each, a “Participant”) all or a portion of its rights and obligations under the Loan Documents (including, without limitation, all or a portion of its Commitment, the Advances owing to it, its participations in Letters of Credit or Swingline Advances, and the Note or Notes (if any) held by it); provided, however, that (i) such Lender’s obligations under this Agreement (including, without limitation, its Commitment hereunder) shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, (iii) such Lender shall remain the holder of any such Note (if any) for all purposes of this Agreement,  and (iv) the Borrowers, the Agent, the LC Issuing Banks 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 to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver that affects such Participant. Each Borrower agrees that each Participant, solely pursuant to the terms of the relevant agreement or instrument between such Participant and the participating Lender and not as a party or third party beneficiary to this Agreement, shall be entitled to the benefits of Section 2.13, Section 2.14, Section 8.4(d), and Section 2.17 (subject to the requirements and limitations therein, including the requirements under Section 2.17(e) (it being understood that the documentation required under Section 2.17(e) shall be delivered to the participating Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section 8.7(c); provided that such Participant (A) agrees to be subject to the provisions of Section 2.21 as if it were an assignee under paragraph (b) of this Section 8.7(c); and (B) shall not be entitled to receive any greater payment under Section 2.14 or Section 2.17 with respect to any participation, than its participating Lender would have been entitled to receive, except to the extent such entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired the applicable participation.  No Participant shall be deemed to be a party to or 
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have standing under this Agreement, and shall only act through the participating Lender pursuant to the terms of the relevant agreement or instrument between such Participant and the participating Lender.  Each Lender that sells a participation agrees to cooperate with the Borrowers to effectuate the provisions of Section 2.21(a) with respect to any Participant. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 2.18 as though it were a Lender; provided that such Participant agrees to be subject to Section 2.18 as though it were a Lender.  Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrowers solely for purposes of complying with Section 5f.103-1(c) of the United States Treasury Regulations, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Advances or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is (i) necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations, (ii) required by a regulatory agency with jurisdiction over the party requesting disclosure, (iii) required by applicable law or (iv) requested by a Borrower in connection with the benefits provided to such Participant under this Agreement, including pursuant to Sections 2.13, 2.14, 2.17 and 8.4.  The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Agent (in its capacity as Agent) shall have no responsibility for maintaining a Participant Register.
(d)Any Lender may, in connection with any assignment or participation or proposed assignment or participation pursuant to this Section 8.7, disclose to the assignee or participant or proposed assignee or participant, any information relating to any Borrower furnished to such Lender by or on behalf of such Borrower; provided that, prior to any such disclosure, the assignee or participant or proposed assignee or participant shall agree, in accordance with the terms of Section 8.8, to preserve the confidentiality of any Confidential Information relating to such Borrower received by it from such Lender.
(e)Anything in this Section 8.7 to the contrary notwithstanding, any Lender may assign a security interest in or pledge all or any portion of its Commitment and the Advances owing to it to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank.  No such assignment shall release the assigning Lender from its obligations hereunder or substitute any such pledge or assignee for such Lender as a party hereto.
Section 8.8Confidentiality.  In connection with the negotiation and administration of this Agreement and the other Loan Documents, each Borrower has furnished and will from time to time furnish to a Recipient written information (such information, other than any such information which (i) was publicly available, or otherwise known to the Recipient, at the time of disclosure, (ii) subsequently becomes publicly available other than through any act or omission by the Recipient, (iii) otherwise subsequently becomes known to the Recipient other than through a Person whom the Recipient knows to be acting in violation of his or its obligations to such Borrower or (iv) to which such Borrower consents to disclosure, being hereinafter referred to as “Confidential Information”).  The Recipient will maintain the confidentiality of any Confidential Information in accordance with such procedures as the Recipient applies generally to information of that nature.  It is understood, however, that the foregoing will not restrict the Recipient’s ability to freely exchange such Confidential Information with its Affiliates (and its and its Affiliates’ directors, officers, employees, agents, and advisors) or with current or prospective participants in or assignees of, or any current or prospective counterparty (or its advisors) to any swap, securitization or derivative transaction relating to, the Recipient’s position herein, provided that (i) the Recipient shall have properly informed any such Person of the confidential nature of the Confidential Information and (ii) the Recipient’s ability to so exchange Confidential Information shall be conditioned upon any such Affiliate’s or prospective participant’s or assignee’s or counterparty’s entering into an understanding as to confidentiality similar to this provision.  It is further understood that the foregoing will not prohibit the disclosure of any or all Confidential Information if and to the extent that such disclosure may be required (i) by a regulatory agency or otherwise in connection with an examination of the Recipient’s records by appropriate authorities, (ii) pursuant to court order, subpoena or other legal process or in connection with any pending or threatened litigation, (iii) otherwise as required by law, or (iv) in order to protect its interests or its rights or remedies hereunder or under the other Loan Documents; in the event of any required disclosure under clause (ii) or (iii) above, the Recipient agrees to use reasonable efforts to inform the applicable Borrower as promptly as practicable to the extent legally permitted to do so.  In addition, the Agent and the Lenders may disclose the existence of this Agreement and information about this Agreement to market data collectors, similar service providers to lending 
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industry and service providers to the Agent or any of the Lenders in connection with the administration or servicing of this Agreement, the other Loan Documents and the Commitments.
Section 8.9WAIVER OF JURY TRIAL.  THE AGENT, THE LC ISSUING BANKS, THE LENDERS AND THE BORROWERS HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHTS THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN), OR ACTIONS OF THE AGENT, SUCH LC ISSUING BANK, SUCH LENDERS OR SUCH BORROWERS.  THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE AGENT, THE LC ISSUING BANKS AND THE LENDERS ENTERING INTO THIS AGREEMENT.
Section 8.10Governing Law.  This Agreement and the other Loan Documents shall be governed by, and construed in accordance with, the laws of the State of New York; provided that each Letter of Credit shall be governed by, and construed in accordance with, the laws or rules designated in such Letter of Credit or application therefor or, if no such laws or rules are designated, the International Standby Practices of the International Chamber of Commerce, as in effect from time to time (the “ISP”), and, as to matters not governed by the ISP, the laws of the State of New York.  
Section 8.11Jurisdiction; Service of Process.  Each Borrower irrevocably and unconditionally agrees that it will not commence any action, litigation or proceeding of any kind or description, whether in law or equity, whether in contract or in tort or otherwise, against the Agent, the Joint Arrangers, any Lender, any LC Issuing Bank, or any Related Party of the foregoing in any way relating to this Agreement or any other Loan Document or the transactions relating hereto or thereto, in any forum other than 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. Each Borrower, each Lender, each LC Issuing Bank, the Joint Arrangers, and the Agent irrevocably and unconditionally submit to the jurisdiction of such courts and agree that all claims in respect of any such action, litigation or proceeding may 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, litigation 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 the Agent, the Joint Arrangers, any Lender or any LC Issuing Bank may otherwise have to bring any action or proceeding relating to this Agreement or any other Loan Document against any Borrower or its properties in the courts of any jurisdiction.  Each party hereto irrevocably consents to service of process in the manner provided for notices in Section 8.2.  Nothing in this Agreement will affect the right of any party hereto to serve process in any other manner permitted by applicable law.
Section 8.12Waiver of Venue.  Each Borrower 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 Section 8.11.  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.
Section 8.13Relation of the Parties; No Beneficiary.  No term, provision or requirement, whether express or implied, of any Loan Document, or actions taken or to be taken by any party thereunder, shall be construed to create a partnership, association, or joint venture between such parties or any of them.  No term or provision of the Loan Documents shall be construed to confer a benefit upon, or grant a right or privilege to, any Person other than the parties thereto.
Section 8.14Execution in Counterparts.  This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.  Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other electronic transmission will be effective as delivery of a manually executed counterpart thereof.  The words “execution,” “signed,” “signature,” and words of like import in any Lender Assignment shall be deemed to include electronic signatures 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 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, 
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the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.
Section 8.15Severability.  To the extent any provision of this Agreement is prohibited by or invalid under the applicable law of any jurisdiction, such provision shall be ineffective only to the extent of such prohibition or invalidity and only in such jurisdiction, without prohibiting or invalidating such provision in any other jurisdiction or the remaining provisions of this Agreement in any jurisdiction.
Section 8.16Disclosure of Information.  Each Borrower agrees and consents to the Agent’s and the Joint Arrangers’ disclosure of information other than any Confidential Information relating to this transaction to Gold Sheets and other similar bank trade publications.  Such information will consist of deal terms and other information customarily found in such publications but in no event shall contain any Confidential Information.
Section 8.17USA Patriot Act Notice.  Each Lender that is subject to the PATRIOT Act and the Agent (for itself and not on behalf of any Lender) hereby notifies each Borrower that pursuant to the requirements of the PATRIOT Act, it is required to obtain, verify and record information that identifies such Borrower, which information includes the name, address and tax identification number of such Borrower and other information that will allow such Lender or the Agent, as applicable, to identify such Borrower in accordance with the PATRIOT Act.
Section 8.18Entire Agreement.  This Agreement, together with any Note, the Fee Letters and any other agreements, instruments and other documents required to be executed and delivered in connection herewith, represents the entire agreement of the parties hereto and supersedes all prior agreements and understandings of the parties with respect to the subject matter covered hereby.
Section 8.19Acknowledgement and Consent to Bail-In of EEA Financial Institutions.  Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any 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 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;
(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 undertaking, 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 the applicable Resolution Authority.
Section 8.20Several Liability; No Joint Liability.  The Agent and the Lenders agree that the obligations of the Borrowers under this Agreement and the other Loan Documents are several and not joint.  No Borrower shall be liable for the conduct of any other Borrower, and no Borrower is a primary obligor, guarantor or surety for the obligation of any other Borrower under the Loan Documents.
Section 8.21No Fiduciary Duties. Each Borrower agrees that in connection with all aspects of the transactions contemplated hereby and any communications in connection therewith, such Borrower and its Affiliates, on the one hand, and the Agent, the Lenders and their respective Affiliates, on the other hand, will have a business relationship that does not create, by implication or otherwise, any fiduciary duty on the part of the Agent, the Lenders 
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and their respective Affiliates and no such duty will be deemed to have arisen in connection with any such transactions or communications.
Section 8.22Amendment and Restatement; No Novation.  This Agreement constitutes an amendment and restatement of the Existing Credit Agreement, effective from and after the Closing 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 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 Closing 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, and all loans and other obligations of the Borrowers 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, and the without any further action by any Person, except that the Agent shall make such transfers of funds as are necessary in order that the outstanding balance of the Revolving Advances, together with any Revolving Advances funded on the Closing Date, reflect the respective Commitments of the Lenders hereunder.  The Credit Exposure of the LC Issuing Banks in respect of any Letters of Credit issued under the Existing Credit Agreement shall be automatically reallocated among the LC Issuing Banks as of the Closing Date based on their pro rata shares of the LC Commitments as of the Closing Date.  
Section 8.23Acknowledgement Regarding Any Supported QFCs.  To the extent that the Loan Documents provide support, through a guarantee or otherwise, for any hedge agreement 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 FDIC 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)(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 12.24, the following terms have the following meanings:
“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.
“Covered Entity” means any of the following:
(i)    a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b);
(ii)    a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or
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(iii)    a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b).
“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.
“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).
[Remainder of page intentionally left blank; signature pages follows]
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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their respective officers thereunto duly authorized, as of the date first above written.
ALLIANT ENERGY CORPORATION
By:    /s/ Barbara Tormaschy
Name:    Barbara Tormaschy
Title:    Vice President and Treasurer

INTERSTATE POWER AND LIGHT COMPANY
By:    /s/ Barbara Tormaschy
Name:    Barbara Tormaschy
Title:    Vice President and Treasurer

WISCONSIN POWER AND LIGHT COMPANY
By:    /s/ Barbara Tormaschy
Name:    Barbara Tormaschy
Title:    Vice President and Treasurer

Signature Page to Credit Agreement

WELLS FARGO BANK, NATIONAL ASSOCIATION, as Agent, as Swingline Lender, as an LC Issuing Bank and as a Lender
By:    /s/ Keith Luettel
Name:    Keith Luettel
Title:    Director

Signature Page to Credit Agreement

JPMORGAN CHASE BANK, N.A., as an LC Issuing Bank and as a Lender
By:    /s/ Nancy R. Barwig
Name:    Nancy R. Barwig
Title:    Executive Director
Signature Page to Credit Agreement

BANK OF AMERICA, N.A., as an LC Issuing Bank and as a Lender
By:    /s/ Joe Creel
Name:    Joe Creel
Title:    Vice President

Signature Page to Credit Agreement

BARCLAYS BANK PLC, as an LC Issuing Bank and as a Lender
By:    /s/ Sam Yoo
Name:    Sam Yoo
Title:    Managing Director
Signature Page to Credit Agreement

GOLDMAN SACHS BANK USA, as an LC Issuing Bank and as a Lender
By:    /s/ William E. Briggs IV
Name:    William E. Briggs IV
Title:    Authorized Signatory
Signature Page to Credit Agreement

MIZUHO BANK, LTD., as an LC Issuing Bank and as a Lender
By:    /s/ Edward Sacks
Name:    Edward Sacks
Title:    Executive Director
Signature Page to Credit Agreement

MUFG BANK, LTD., as an LC Issuing Bank and as a Lender
By:    /s/ Lauren Lavin
Name:    Lauren Lavin
Title:    Vice President
Signature Page to Credit Agreement

KEYBANK NATIONAL ASSOCIATION, as a Lender
By:    /s/ Richard Gerling
Name:    Richard Gerling
Title:    Senior Vice President
Signature Page to Credit Agreement

THE TORONTO-DOMINION BANK, NEW YORK BRANCH, as a Lender
By:    /s/ Brian MacFarlane
Name:    Brian MacFarlane
Title:    Authorized Signatory
Signature Page to Credit Agreement

U.S. BANK NATIONAL ASSOCIATION, as a Lender
By:    /s/ Kevin S. Murphy
Name:    Kevin S. Murphy
Title:    Vice President
Signature Page to Credit Agreement

THE NORTHERN TRUST COMPANY, as a Lender
By:    /s/ Lisa DeCristofaro
Name:    Lisa DeCristofaro
Title:    SVP
Signature Page to Credit Agreement

COMERICA BANK, as a Lender
By:    /s/ John Lascody
Name:    John Lascody
Title:    Vice President
Signature Page to Credit Agreement

COBANK, ACB, as a Lender
By:    /s/ Jared A. Greene
Name:    Jared A. Greene
Title:    Assistant Corporate Secretary
Signature Page to Credit Agreement

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