Document:

EX-10.1

 Exhibit 10.1 

Execution Version 

AMENDMENT NO. 1, dated as of January 24, 2019 (this “Amendment”), to (i) the Amended and Restated Credit Agreement,
dated as of March 18, 1999 and amended and restated on December 21, 2017 (the “Credit Agreement”), by and among CHARTER COMMUNICATIONS OPERATING, LLC, a Delaware limited liability company (“Borrower”), CCO
HOLDINGS, LLC, a Delaware limited liability company (“Holdings”), the LENDERS party thereto and BANK OF AMERICA, N.A., as administrative agent (the “Administrative Agent”), and (ii) the Guarantee and Collateral
Agreement, dated as of March 18, 1999, as amended and restated as of March 31, 2010, as further amended and restated on May 18, 2016 (the “Guarantee and Collateral Agreement”). Capitalized terms used but not defined
herein shall have the meanings assigned to such terms in the Credit Agreement or the Guarantee and Collateral Agreement, each as amended by this Amendment, as the context requires. 

WHEREAS, the Borrower wishes to establish the Revolving B Commitments, convert all or a portion of its Term
A-2 Loans to Term A-3 Loans, borrow an additional amount of Term A-3 Loans and make certain other amendments to the Credit
Agreement and the Guarantee and Collateral Agreement; 
 WHEREAS, the Required Lenders, each Issuing Lender and the Swingline Lender have
agreed to the amendments contemplated above; and 
 WHEREAS, each Lender listed on Schedule I hereto has agreed to provide a
Revolving B Commitment and/or a Term A-3 Commitment in the respective amounts set forth opposite such Lender’s name on Schedule I; 

WHEREAS, each Lender with an outstanding Term A-2 Loan that has so indicated on its counterpart to
this Amendment has agreed to convert such Term A-2 Loan to a Term A-3 Loan on the Amendment No. 1 Effective Date; 

NOW, THEREFORE, in consideration of the promises and mutual agreements herein contained, the Borrower, Holdings, the Lenders, Issuing Lenders
and Swingline Lender party hereto and the Administrative Agent hereby agree as follows: 
 SECTION 1. Amendment of the Credit
Agreement. The Credit Agreement is, effective as of the Amendment No. 1 Effective Date, hereby amended to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the double-underlined text (indicated textually in the same manner as the following example: double-underlined text) as set forth in the pages of the Credit Agreement attached as
Exhibit A hereto. 
 SECTION 2. Amendment of the Guarantee and Collateral Agreement. The Guarantee and Collateral
Agreement is, effective as of the Amendment No. 1 Effective Date, hereby amended by amending in its entirety the last sentence of Section 9.15(c) as follows: 

“At the request and sole expense of the Borrower, a Subsidiary Guarantor shall be released from its obligations hereunder as provided in
Section 10.14 of the Credit Agreement.” 

 SECTION 3. Effectiveness. This Amendment shall become effective on the date (such
date and time of effectiveness, the “Amendment No. 1 Effective Date”) that each of the conditions precedent set forth below shall have been satisfied: 

(a)    The Administrative Agent shall have received executed counterparts hereof from each of the Loan Parties, Lenders
constituting the Required Lenders, each Lender listed on Schedule I hereto as having a Revolving B Commitment or a Term A-3 Commitment; 

(b)    On the Amendment No. 1 Effective Date, the Administrative Agent shall have received the legal opinion of
Kirkland & Ellis LLP, counsel to the Loan Parties, which opinion shall be in form and substance reasonably satisfactory to the Administrative Agent. 

(c)    The Administrative Agent shall have received a completed Notice of Borrowing for the Term A-3 Loans; 
 (d)    The Administrative Agent shall have received from a Responsible
Officer of the Borrower a certificate in form and substance reasonably satisfactory to the Administrative Agent certifying that the Borrower and its Subsidiaries, on a consolidated basis after giving effect to this Amendment and the payment of all
fees and expenses in connection therewith, are Solvent; 
 (e)    The Administrative Agent shall have received from the
Borrower upfront fees for the account of each Lender equal to the sum of (i) 0.20% of the aggregate principal amount of the Term A-3 Commitment of such Lender, (ii) 0.20% of the aggregate amount of the
Revolving B Commitment of such Lender that is in excess of the amount of such Lender’s Revolving Commitment in effect immediately prior to the Amendment No. 1 Effective Date, (iii) 0.04% of such Lender’s Term A-2 Loan that is converted to a Term A-3 Loan on the Amendment No. 1 Effective Date and (iv) 0.04% of the amount of such Lender’s Revolving B Commitment up to the
amount of such Lender’s Revolving Commitment in effect immediately prior to the Amendment No. 1 Effective Date; 

(f)    The Borrower shall have paid, or concurrently herewith shall pay to the Administrative Agent for the benefit of the
applicable Lenders all accrued (i) commitment fees pursuant to Section 2.6(a) of the Credit Agrement, (ii) Letter of Credit fees pursuant to the first sentence of Section 3.3 (a) of the Credit Agreement and (iii) all accrued interest on the Revolving Loans and Term A-2 Loans, in each case, to but excluding the Amendment No. 1 Effective Date; and 

(g)    The Borrower shall have paid, or concurrently herewith shall pay to the Administrative Agent for the benefit of the
applicable Agents, to the extent invoiced, the reasonable documented out-of-pocket expenses of such Agents in connection with this Agreement. 

SECTION 4. Representations and Warranties. In order to induce the Lenders and the Administrative Agent to enter into this Amendment,
the Borrower represents and warrants to each of the Lenders and the Administrative Agent that, after giving effect to this Amendment, and both before and after giving effect to the transactions contemplated by this Amendment: 

(a)    no Default or Event of Default has occurred and is continuing; and 

  
 -2- 

 (b)    each of the representations and warranties made
by each of the Loan Parties in or pursuant to the Loan Documents is true and correct in all material respects on and as of the date hereof as if made on the date hereof (or, if any such representation or warranty is expressly stated to have been
made as of a specific date, in all material respects as of such specific date) and in each case without duplication of any materiality qualifier therein. 

SECTION 5. Reference to and Effect on the Loan Documents. On and after the Amendment No. 1 Effective Date, each reference in each
of the Credit Agreement and the Guarantee and Collateral Agreement to “this Agreement,” “hereunder,” “hereof” or words of like import referring to the Credit Agreement or the Guarantee and Collateral Agreement,
respectively, and each reference in the Notes and each of the other Loan Documents to “the Credit Agreement,” “the Guarantee and Collateral Agreement,” “thereunder,” “thereof” or words of like import referring
to the Credit Agreement or the Guarantee and Collateral Agreement, as applicable, shall mean and be a reference to each of the Credit Agreement or the Guarantee and Collateral Agreement, as amended by this Amendment. The Credit Agreement and each of
the other Loan Documents, as specifically amended by this Amendment, are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed. On and after the effectiveness of this Amendment, this Amendment shall
for all purposes constitute a Loan Document. The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Lender or any Agent under any of the
Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents. Each of the Loan Parties hereby consents to the Amendment and reaffirms its obligations under the Loan Documents to which it is party after giving effect to the
Amendment. This Amendment shall not constitute a novation of the Credit Agreement, the Guarantee and Collateral Agreement or any other Loan Document. 

SECTION 6. Applicable Law; Waiver of Jury Trial. 

(A)    THIS AMENDMENT SHALL BE CONSTRUED AND INTERPRETED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW
YORK. 
 (B)    EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION
OR PROCEEDING RELATING TO THIS AMENDMENT AND FOR ANY COUNTERCLAIM HEREIN. 
 SECTION 7. Headings. The Section headings used
herein are for convenience of reference only, are not part of this Amendment and are not to affect the construction of, or to be taken into consideration in interpreting, this Amendment. 

SECTION 8. Counterparts. This Amendment may be executed in any number of counterparts and by different parties hereto on separate
counterparts, each of which when so executed and delivered shall be deemed to be an original, but all of which when taken together shall constitute a single instrument. Delivery of an executed counterpart of a signature page of this Amendment by
facsimile or any other electronic transmission shall be effective as delivery of an original executed counterpart hereof. 
 [Signature pages
to follow] 

  
 -3- 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by
their respective authorized officers as of the day and year first written above. 
  

			
	CHARTER COMMUNICATIONS OPERATING, LLC, as Borrower
		
	By:	 	/s/ Jessica Fischer
		 	Name: Jessica Fischer
		 	Title:   Senior Vice President, Finance and Corporate Treasurer

  

			
	CCO HOLDINGS, LLC, as Holdings
		
	By:	 	/s/ Jessica Fischer
		 	Name: Jessica Fischer
		 	Title:   Senior Vice President, Finance and Corporate Treasurer

  

			
	THE SUBSIDIARY GUARANTORS LISTED ON SCHEDULE A HERETO
		
	By:	 	/s/ Jessica Fischer
		 	Name: Jessica Fischer
		 	Title:   Senior Vice President, Finance and Corporate Treasurer

 [Amendment No. 1 to Charter Communications Credit Agreement] 

 
			
	BANK OF AMERICA, N.A, as Administrative Agent
		
	By:	 	/s/ Don B. Pinzon
		 	Name: Don B. Pinzon
		 	Title:   Vice President

  

			
	BANK OF AMERICA, N.A, as Swingline Lender and an Issuing Lender
		
	By:	 	/s/ Eric Ridgway
		 	Name: Eric Ridgway
		 	Title:   Director

 [Amendment No. 1 to Charter Communications Credit Agreement] 

 
			
	JPMORGAN CHASE BANK, N.A, as an Issuing Lender
		
	By:	 	/s/ Inderjeet Singh Aneja
		 	Name: Inderjeet Singh Aneja
		 	Title:   Vice President

 [Amendment No. 1 to Charter Communications Credit Agreement] 

 [Lenders’ Signature Pages on file with Charter] 

[Amendment No. 1 to Charter Communications Credit Agreement] 

 Schedule A 

Subsidiary Guarantors 
  

			
	1.	  	 Alabanza LLC

	2.	  	 America’s Job Exchange LLC

	3.	  	 BHN Spectrum Investments, LLC

	4.	  	 Bresnan Broadband Holdings, LLC

	5.	  	 Bresnan Communications, LLC

	6.	  	 Bresnan Digital Services, LLC

	7.	  	 Bresnan Microwave of Montana, LLC

	8.	  	 Bright House Networks Information Services (Alabama), LLC

	9.	  	 Bright House Networks Information Services (California), LLC

	10.	  	 Bright House Networks Information Services (Florida), LLC

	11.	  	 Bright House Networks Information Services (Indiana), LLC

	12.	  	 Bright House Networks Information Services (Michigan), LLC

	13.	  	 Bright House Networks, LLC

	14.	  	 CC Fiberlink, LLC

	15.	  	 CC Systems, LLC

	16.	  	 CC VI Fiberlink, LLC

	17.	  	 CC VI Operating Company, LLC

	18.	  	 CC VII Fiberlink, LLC

	19.	  	 CC VIII Fiberlink, LLC

	20.	  	 CC VIII Operating, LLC

	21.	  	 CCO Fiberlink, LLC

	22.	  	 CCO NR Holdings, LLC

	23.	  	 CCO Transfers, LLC

	24.	  	 Charter Advanced Services (AL), LLC

	25.	  	 Charter Advanced Services (CA), LLC

	26.	  	 Charter Advanced Services (CO), LLC

	27.	  	 Charter Advanced Services (CT), LLC

	28.	  	 Charter Advanced Services (GA), LLC

	29.	  	 Charter Advanced Services (IL), LLC

	30.	  	 Charter Advanced Services (IN), LLC

	31.	  	 Charter Advanced Services (KY), LLC

	32.	  	 Charter Advanced Services (LA), LLC

	33.	  	 Charter Advanced Services (MA), LLC

	34.	  	 Charter Advanced Services (MD), LLC

	35.	  	 Charter Advanced Services (MI), LLC

	36.	  	 Charter Advanced Services (MN), LLC

	37.	  	 Charter Advanced Services (MO),
LLC

			
	38.	  	 Charter Advanced Services (MS), LLC

	39.	  	 Charter Advanced Services (MT), LLC

	40.	  	 Charter Advanced Services (NC), LLC

	41.	  	 Charter Advanced Services (NE), LLC

	42.	  	 Charter Advanced Services (NH), LLC

	43.	  	 Charter Advanced Services (NV), LLC

	44.	  	 Charter Advanced Services (NY), LLC

	45.	  	 Charter Advanced Services (OH), LLC

	46.	  	 Charter Advanced Services (OR), LLC

	47.	  	 Charter Advanced Services (PA), LLC

	48.	  	 Charter Advanced Services (SC), LLC

	49.	  	 Charter Advanced Services (TN), LLC

	50.	  	 Charter Advanced Services (TX), LLC

	51.	  	 Charter Advanced Services (UT), LLC

	52.	  	 Charter Advanced Services (VA), LLC

	53.	  	 Charter Advanced Services (VT), LLC

	54.	  	 Charter Advanced Services (WA), LLC

	55.	  	 Charter Advanced Services (WI), LLC

	56.	  	 Charter Advanced Services (WV), LLC

	57.	  	 Charter Advanced Services (WY), LLC

	58.	  	 Charter Advanced Services VIII (MI), LLC

	59.	  	 Charter Advanced Services VIII (MN), LLC

	60.	  	 Charter Advanced Services VIII (WI), LLC

	61.	  	 Charter Cable Partners, LLC

	62.	  	 Charter Communications Entertainment I, LLC

	63.	  	 Charter Communications Operating Capital Corp.

	64.	  	 Charter Communications VI, L.L.C.

	65.	  	 Charter Communications VII, LLC

	66.	  	 Charter Communications, LLC

	67.	  	 Charter Distribution, LLC

	68.	  	 Charter Fiberlink – Alabama, LLC

	69.	  	 Charter Fiberlink – Georgia, LLC

	70.	  	 Charter Fiberlink – Illinois, LLC

	71.	  	 Charter Fiberlink – Maryland II, LLC

	72.	  	 Charter Fiberlink – Michigan, LLC

	73.	  	 Charter Fiberlink – Missouri, LLC

	74.	  	 Charter Fiberlink – Nebraska, LLC

	75.	  	 Charter Fiberlink – Tennessee, LLC

	76.	  	 Charter Fiberlink AR-CCVII, LLC

	77.	  	 Charter Fiberlink CA-CCO, LLC

	78.	  	 Charter Fiberlink CC VIII, LLC

			
	79.	  	 Charter Fiberlink CCO, LLC

	80.	  	 Charter Fiberlink CT-CCO, LLC

	81.	  	 Charter Fiberlink LA-CCO, LLC

	82.	  	 Charter Fiberlink MA-CCO, LLC

	83.	  	 Charter Fiberlink MS-CCVI, LLC

	84.	  	 Charter Fiberlink NC-CCO, LLC

	85.	  	 Charter Fiberlink NH-CCO, LLC

	86.	  	 Charter Fiberlink NV-CCVII, LLC

	87.	  	 Charter Fiberlink NY-CCO, LLC

	88.	  	 Charter Fiberlink OH-CCO, LLC

	89.	  	 Charter Fiberlink OR-CCVII, LLC

	90.	  	 Charter Fiberlink SC-CCO, LLC

	91.	  	 Charter Fiberlink TX-CCO, LLC

	92.	  	 Charter Fiberlink VA-CCO, LLC

	93.	  	 Charter Fiberlink VT-CCO, LLC

	94.	  	 Charter Fiberlink WA-CCVII, LLC

	95.	  	 Charter Helicon, LLC

	96.	  	 Charter Leasing Holding Company, LLC

	97.	  	 Charter Leasing of Wisconsin, LLC

	98.	  	 DukeNet Communications Holdings, LLC

	99.	  	 DukeNet Communications, LLC

	100.	  	 Falcon Cable Communications, LLC

	101.	  	 Falcon Community Cable, L.P.

	102.	  	 Falcon First Cable of the Southeast, LLC

	103.	  	 Falcon First, LLC

	104.	  	 Falcon Video Communications, L.P.

	105.	  	 Helicon Partners I, L.P.

	106.	  	 ICI Holdings, LLC

	107.	  	 Insight Blocker LLC

	108.	  	 Insight Capital LLC

	109.	  	 Insight Communications Company, L.P.

	110.	  	 Insight Communications Midwest, LLC

	111.	  	 Insight Communications of Kentucky, L.P.

	112.	  	 Insight Interactive, LLC

	113.	  	 Insight Kentucky Capital, LLC

	114.	  	 Insight Kentucky Partners I, L.P.

	115.	  	 Insight Kentucky Partners II, L.P.

	116.	  	 Insight Midwest Holdings, LLC

	117.	  	 Insight Midwest, L.P.

	118.	  	 Interactive Cable Services, LLC

	119.	  	 Intrepid Acquisition LLC

			
	120.	  	 Marcus Cable Associates, L.L.C.

	121.	  	 Marcus Cable of Alabama, L.L.C.

	122.	  	 NaviSite LLC

	123.	  	 Oceanic Time Warner Cable LLC

	124.	  	 Robin Media Group, LLC

	125.	  	 Spectrum Gulf Coast, LLC

	126.	  	 Spectrum Mid-America, LLC

	127.	  	 Spectrum Mobile, LLC

	128.	  	 Spectrum Mobile Equipment, LLC

	129.	  	 Spectrum Originals, LLC

	130.	  	 Spectrum Originals Development, LLC

	131.	  	 Spectrum Pacific West, LLC

	132.	  	 Spectrum Security, LLC

	133.	  	 Spectrum Southeast, LLC

	134.	  	 The Helicon Group, L.P.

	135.	  	 Time Warner Cable Business LLC

	136.	  	 Time Warner Cable Enterprises LLC

	137.	  	 Time Warner Cable Information Services (Alabama), LLC

	138.	  	 Time Warner Cable Information Services (Arizona), LLC

	139.	  	 Time Warner Cable Information Services (California), LLC

	140.	  	 Time Warner Cable Information Services (Colorado), LLC

	141.	  	 Time Warner Cable Information Services (Hawaii), LLC

	142.	  	 Time Warner Cable Information Services (Idaho), LLC

	143.	  	 Time Warner Cable Information Services (Illinois), LLC

	144.	  	 Time Warner Cable Information Services (Indiana), LLC

	145.	  	 Time Warner Cable Information Services (Kansas), LLC

	146.	  	 Time Warner Cable Information Services (Kentucky), LLC

	147.	  	 Time Warner Cable Information Services (Maine), LLC

	148.	  	 Time Warner Cable Information Services (Massachusetts), LLC

	149.	  	 Time Warner Cable Information Services (Michigan), LLC

	150.	  	 Time Warner Cable Information Services (Missouri), LLC

	151.	  	 Time Warner Cable Information Services (Nebraska), LLC

	152.	  	 Time Warner Cable Information Services (New Hampshire), LLC

	153.	  	 Time Warner Cable Information Services (New Jersey), LLC

	154.	  	 Time Warner Cable Information Services (New Mexico) LLC

	155.	  	 Time Warner Cable Information Services (New York), LLC

	156.	  	 Time Warner Cable Information Services (North Carolina), LLC

	157.	  	 Time Warner Cable Information Services (Ohio), LLC

	158.	  	 Time Warner Cable Information Services (Pennsylvania), LLC

	159.	  	 Time Warner Cable Information Services (South Carolina), LLC

	160.	  	 Time Warner Cable Information Services (Tennessee),
LLC

			
	161.	  	 Time Warner Cable Information Services (Texas), LLC

	162.	  	 Time Warner Cable Information Services (Virginia), LLC

	163.	  	 Time Warner Cable Information Services (Washington), LLC

	164.	  	 Time Warner Cable Information Services (West Virginia), LLC

	165.	  	 Time Warner Cable Information Services (Wisconsin), LLC

	166.	  	 Time Warner Cable International LLC

	167.	  	 Time Warner Cable Internet Holdings III LLC

	168.	  	 Time Warner Cable Internet Holdings LLC

	169.	  	 Time Warner Cable Internet LLC

	170.	  	 Time Warner Cable Media LLC

	171.	  	 Time Warner Cable New York City LLC

	172.	  	 Time Warner Cable Northeast LLC

	173.	  	 Time Warner Cable Sports LLC

	174.	  	 Time Warner Cable, LLC

	175.	  	 TWC Administration LLC

	176.	  	 TWC Communications, LLC

	177.	  	 TWC Digital Phone LLC

	178.	  	 TWC Media Blocker LLC

	179.	  	 TWC News and Local Programming Holdco LLC

	180.	  	 TWC News and Local Programming LLC

	181.	  	 TWC Regional Sports Network I LLC

	182.	  	 TWC Regional Sports Network II LLC

	183.	  	 TWC SEE Holdco LLC

	184.	  	 TWC Wireless LLC

	185.	  	 TWC/Charter Los Angeles Cable Advertising, LLC

	186.	  	 TWCIS Holdco LLC

	187.	  	 Falcon Cable Systems Company II, L.P.

	188.	  	 Falcon Community Ventures I Limited Partnership

	189.	  	 Bresnan Broadband of Colorado, LLC

	190.	  	 Bresnan Broadband of Montana, LLC

	191.	  	 Bresnan Broadband of Utah, LLC

	192.	  	 Bresnan Broadband of Wyoming, LLC

 EXHIBIT A 

Deal CUSIP: 16117LBP3 
 Revolver FacilityRevolving A Commitments CUSIP: 16117LBQ1 

Revolving B Commitments CUSIP:
16117LBT5 
 Term
A-2 Loan
A-2 CUSIP: 16117LBR9 

Term A-3 Loan CUSIP: 16117LBU2
 
 Term Loan B CUSIP: 16117LBS7 

 
  

 
 AMENDED AND RESTATED CREDIT AGREEMENT

 CHARTER COMMUNICATIONS OPERATING, LLC, 

as Borrower, 
 CCO HOLDINGS, LLC,

 BANK OF AMERICA, N.A., 
 as
Administrative Agent, 
 BANK OF AMERICA, N.A., 

CITIGROUP GLOBAL MARKETS INC., 

CREDIT SUISSE AG, 
 DEUTSCHE BANK
SECURITIES INC., 
 GOLDMAN SACHS BANK USA, 

MIZUHO BANK, LTD., 
 RBC CAPITAL
MARKETS, 
 UBS SECURITIES LLC 

and 
 WELLS FARGO SECURITIES, LLC,

 as Syndication Agents and Documentation Agents, 

BANK OF AMERICA, N.A., 
 CITIGROUP
GLOBAL MARKETS INC., 
 CREDIT SUISSE SECURITIES (USA) LLC, 

DEUTSCHE BANK SECURITIES INC., 

GOLDMAN SACHS BANK USA, 
 MIZUHO
BANK, LTD., 
 RBC CAPITAL MARKETS, 

UBS SECURITIES LLC 
 and 

WELLS FARGO SECURITIES, LLC, 
 as
Joint Lead Arrangers and Joint Bookrunners, 

BANK OF AMERICA, N.A.,
CITIGROUP GLOBAL MARKETS INC., CREDIT SUISSE SECURITIES (USA) LLC, DEUTSCHE BANK SECURITIES INC., GOLDMAN SACHS BANK USA, JPMORGAN CHASE BANK, N.A., MIZUHO BANK, LTD., MUFG BANK, LTD., RBC CAPITAL MARKETS, TD SECURITIES (USA) LLC and 

WELLS FARGO SECURITIES,
LLC, 

as Joint Lead Arrangers and
Joint Bookrunners for the Term A-3 Loans and the Revolving B Commitments, 

Dated as of March 18, 1999, 

as Amended and Restated as of December 21, 2017 

as Amended by Amendment
No. 1 on January 24, 2019 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	    	 	  	Page	 
		
	 SECTION 1 DEFINITIONS
	  	 	1	 
	 1.1.
	    	Defined Terms	  	 	1	 
	 1.2.
	    	Other Definitional Provisions; Pro Forma Calculations	  	 	3436	 
		
	 SECTION 2 AMOUNT AND TERMS OF COMMITMENTS
	  	 	3739	 
	 2.1.
	    	Loans and Commitments	  	 	3739	 
	 2.2.
	    	Procedure for Borrowing	  	 	4244	 
	 2.3.
	    	Repayment of Loans	  	 	4245	 
	 2.4.
	    	Swingline Commitment	  	 	4447	 
	 2.5.
	    	Procedure for Swingline Borrowing; Refunding of Swingline Loans	  	 	4447	 
	 2.6.
	    	Fees, Etc.	  	 	4649	 
	 2.7.
	    	Termination or Reduction of Commitments.	  	 	4649	 
	 2.8.
	    	Optional Prepayments	  	 	4750	 
	 2.9.
	    	Mandatory Prepayments	  	 	5052	 
	 2.10.
	    	Conversion and Continuation Options	  	 	5053	 
	 2.11.
	    	Limitations on Eurodollar Tranches	  	 	5154	 
	 2.12.
	    	Interest Rates and Payment Dates	  	 	5154	 
	 2.13.
	    	Computation of Interest and Fees	  	 	5254	 
	 2.14.
	    	Inability to Determine Interest Rate	  	 	5255	 
	 2.15.
	    	Pro Rata Treatment and Payments	  	 	5356	 
	 2.16.
	    	Requirements of Law	  	 	5558	 
	 2.17.
	    	Taxes	  	 	5659	 
	 2.18.
	    	Indemnity	  	 	5861	 
	 2.19.
	    	Change of Lending Office	  	 	5861	 
	 2.20.
	    	Replacement of Lenders	  	 	5861	 
	 2.21.
	    	Defaulting Lenders	  	 	5962	 
	 2.22.
	    	Obligations of Lenders Several	  	 	6164	 
	 2.23.
	    	Permitted Debt Exchanges	  	 	6164	 
		
	 SECTION 3 LETTERS OF CREDIT
	  	 	6467	 
	 3.1.
	    	L/C Commitment	  	 	6467	 
	 3.2.
	    	Procedure for Issuance of Letter of Credit	  	 	6568	 
	 3.3.
	    	Fees and Other Charges	  	 	6668	 
	 3.4.
	    	L/C Participations	  	 	6669	 
	 3.5.
	    	Reimbursement Obligation of the Borrower	  	 	6770	 
	 3.6.
	    	Obligations Absolute	  	 	6770	 
	 3.7.
	    	Letter of Credit Payments	  	 	6871	 
	 3.8.
	    	Cash Collateral	  	 	6871	 
	 3.9.
	    	Applications	  	 	6972	 
	 3.10.
	    	Applicability of ISP and UCP	  	 	6972	 
		
	 SECTION 4 REPRESENTATIONS AND WARRANTIES
	  	 	6972	 
	 4.1.
	    	Financial Condition	  	 	6972	 
	 4.2.
	    	No Change	  	 	7072	 
	 4.3.
	    	Existence; Compliance with Law	  	 	7072	 
	 4.4.
	    	Power; Authorization; Enforceable Obligations	  	 	7073	 

  
 -i- 

							
	 4.5.
	    	No Legal Bar	  	 	7073	 
	 4.6.
	    	Litigation	  	 	7073	 
	 4.7.
	    	No Default	  	 	7073	 
	 4.8.
	    	Ownership of Property; Liens	  	 	7173	 
	 4.9.
	    	Intellectual Property	  	 	7173	 
	 4.10.
	    	Taxes	  	 	7174	 
	 4.11.
	    	Federal Regulations	  	 	7174	 
	 4.12.
	    	Labor Matters	  	 	7174	 
	 4.13.
	    	ERISA	  	 	7174	 
	 4.14.
	    	Investment Company Act; Other Regulations	  	 	7275	 
	 4.15.
	    	Subsidiaries	  	 	7275	 
	 4.16.
	    	Use of Proceeds	  	 	7275	 
	 4.17.
	    	Environmental Matters	  	 	7275	 
	 4.18.
	    	Certain Cable Television Matters	  	 	7376	 
	 4.19.
	    	Accuracy of Information, Etc.	  	 	7476	 
	 4.20.
	    	Security Interests	  	 	7477	 
	 4.21.
	    	Solvency	  	 	7477	 
		
	 SECTION 5 CONDITIONS PRECEDENT
	  	 	7477	 
	 5.1.
	    	Conditions to Restatement Effective Date	  	 	7477	 
	 5.2.
	    	Conditions to Each Extension of Credit	  	 	7577	 
		
	 SECTION 6 AFFIRMATIVE COVENANTS
	  	 	7578	 
	 6.1.
	    	Financial Statements	  	 	7578	 
	 6.2.
	    	Certificates; Other Information	  	 	7779	 
	 6.3.
	    	Payment of Obligations	  	 	7780	 
	 6.4.
	    	Maintenance of Existence; Compliance	  	 	7780	 
	 6.5.
	    	Maintenance of Property; Insurance	  	 	7880	 
	 6.6.
	    	Inspection of Property; Books and Records; Discussions	  	 	7880	 
	 6.7.
	    	Notices	  	 	7881	 
	 6.8.
	    	Environmental Laws	  	 	7981	 
	 6.9.
	    	Additional Collateral	  	 	7982	 
	 6.10.
	    	Regulated Subsidiaries	  	 	7982	 
		
	 SECTION 7 NEGATIVE COVENANTS
	  	 	8082	 
	 7.1.
	    	Financial Condition Covenants	  	 	8083	 
	 7.2.
	    	Indebtedness	  	 	8083	 
	 7.3.
	    	Liens	  	 	8284	 
	 7.4.
	    	Fundamental Changes	  	 	8386	 
	 7.5.
	    	Disposition of Property	  	 	8487	 
	 7.6.
	    	Restricted Payments	  	 	8689	 
	 7.7.
	    	Investments	  	 	8891	 
	 7.8.
	    	Certain Payments and Modifications Relating to Indebtedness and Management Fees	  	 	9093	 
	 7.9.
	    	Transactions with Affiliates	  	 	9194	 
	 7.10.
	    	Sales and Leasebacks	  	 	9295	 
	 7.11.
	    	[Reserved]	  	 	9295	 
	 7.12.
	    	Negative Pledge Clauses	  	 	9295	 
	 7.13.
	    	Clauses Restricting Subsidiary Distributions	  	 	9295	 
	 7.14.
	    	Lines of Business	  	 	9396	 
	 7.15.
	    	Investments in the Borrower	  	 	9496	 

  
 -ii- 

							
		
	 SECTION 8 EVENTS OF DEFAULT
	  	 	9497	 
	 8.1.
	    	Events of Default	  	 	9497	 
	 8.2.
	    	Application of Funds	  	 	98101	 
		
	 SECTION 9 THE AGENTS
	  	 	99102	 
	 9.1.
	    	Appointment	  	 	99102	 
	 9.2.
	    	Delegation of Duties	  	 	99102	 
	 9.3.
	    	Exculpatory Provisions	  	 	99102	 
	 9.4.
	    	Reliance by Administrative Agent	  	 	100103	 
	 9.5.
	    	Notice of Default	  	 	101103	 
	 9.6.
	    	Non-Reliance on Agents and OtherCertain Representations and Agreements
by Lenders	  	 	101104	 
	 9.7.
	    	Indemnification	  	 	101106	 
	 9.8.
	    	Agent in Its Individual Capacity	  	 	103106	 
	 9.9.
	    	Successor Administrative Agent	  	 	104106	 
	 9.10.
	    	Agents	  	 	104107	 
	 9.11.
	    	Collateral and Guaranty Matters	  	 	104107	 
	 9.12.
	    	Specified Cash Management Agreements and Specified Hedge Agreements	  	 	105107	 
		
	 SECTION 10 MISCELLANEOUS
	  	 	105108	 
	 10.1.
	    	Amendments and Waivers	  	 	105108	 
	 10.2.
	    	Notices	  	 	106109	 
	 10.3.
	    	No Waiver; Cumulative Remedies	  	 	108110	 
	 10.4.
	    	Survival of Representations and Warranties	  	 	108111	 
	 10.5.
	    	Payment of Expenses and Taxes	  	 	108111	 
	 10.6.
	    	Successors and Assigns; Participations and Assignments	  	 	109112	 
	 10.7.
	    	Adjustments; Setoff	  	 	113116	 
	 10.8.
	    	Counterparts	  	 	114117	 
	 10.9.
	    	Severability	  	 	114117	 
	 10.10.
	    	Integration	  	 	114117	 
	 10.11.
	    	GOVERNING LAW	  	 	114117	 
	 10.12.
	    	Submission to Jurisdiction; Waivers	  	 	114117	 
	 10.13.
	    	Acknowledgments	  	 	115118	 
	 10.14.
	    	Release of Guarantees and Liens	  	 	115118	 
	 10.15.
	    	Confidentiality	  	 	115119	 
	 10.16.
	    	WAIVERS OF JURY TRIAL	  	 	116120	 
	 10.17.
	    	Electronic Execution of Assignments and Certain Other Documents	  	 	116120	 
	 10.18.
	    	USA Patriot Act	  	 	117120	 
	 10.19.
	    	EU Bail-In Provisions	  	 	117120	 
	 10.20.
	    	Intercreditor Agreements	  	 	117121	 

 SCHEDULES: 
  

			
	4.15	  	Subsidiaries
	4.20(a)	  	UCC Filing Jurisdictions
	10.2	  	Notices for Administrative Agent, Swingline Lender and Issuing Lenders

  
 -iii- 

 EXHIBITS: 
  

			
	A	  	Form of Assignment and Assumption
	B	  	Form of Compliance Certificate
	C    	  	Form of United States Tax Compliance Certificate
	D	  	Form of Specified Subordinated Note
	E	  	Form of Notice of Borrowing
	F	  	Form of Release

  
 -iv- 

 AMENDED AND RESTATED CREDIT AGREEMENT, dated as of March 18, 1999, as amended and
restated as of December 21, 2017 and as Amended by Amendment No. 1 as of January 24, 2019, among CHARTER COMMUNICATIONS OPERATING, LLC, a Delaware limited liability company (the “Borrower”), CCO HOLDINGS, LLC, a Delaware limited liability company (“Holdings”), the
several banks and other financial institutions or entities from time to time parties to this Agreement (the “Lenders”) and BANK OF AMERICA, N.A., as Administrative Agent (in such capacity, together with any successor, the
“Administrative Agent”). 
 W I T N E S S E T H
: 
 WHEREAS, the Borrower and Holdings are parties to that certain Amended and Restated Credit Agreement, dated as of March 18, 1999, and as amended and restated as of May 18, 2016, as amended by Amendment No. 1, dated as of December 23, 2016, and as further amended by Incremental Activation Notice No. 1, dated as of January
1921, 2017, with the Administrative Agent, the issuing lenders
party thereto and the lenders party thereto (the “Existing Credit Agreement”), and 
 WHEREAS, the parties hereto
have agreed to amend and restate the Existing Credit Agreement as provided in this Agreement, which Agreement shall become effective upon the satisfaction of the conditions precedent set forth in the Restatement Agreement; and 

WHEREAS, it is the intent of the parties hereto that this Agreement not constitute a novation of the obligations and liabilities existing
under the Existing Credit Agreement or evidence repayment of any of such obligations and liabilities and that this Agreement amend and restate in its entirety the Existing Credit Agreement and re-evidence the obligations of the Borrower outstanding
thereunder; 
 NOW, THEREFORE, in consideration of the above premises, the parties hereto hereby agree that on the Restatement Effective
Date (as defined below), the Existing Credit Agreement shall be amended and restated in its entirety as follows: 
 SECTION 1 DEFINITIONS

 1.1. Defined Terms. As used in this Agreement, the terms listed in this Section 1.1 shall have the respective meanings set
forth in this Section 1.1. 
 “ABR”: for any day, a rate per annum (rounded upwards, if necessary, to the next 1/100th
of 1%) equal to the greater of (a) the Prime Rate in effect on such day and (b) the Federal Funds Effective Rate in effect on such day plus 1⁄2 of 1%. Any
change in the ABR due to a change in the Prime Rate or the Federal Funds Effective Rate shall be effective as of the opening of business on the effective day of such change in the Prime Rate or the Federal Funds Effective Rate, respectively. 

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

“Acceptable Price”: as defined in Section 2.8(b)(iii). 

“Acceptance Date”: as defined in Section 2.8(b)(iii). 

“Acquisition Agreement”: means that certain Agreement and Plan of Mergers, dated as of May 23, 2015, among Charter
Communications, Inc., Time Warner Cable Inc., CCH I, LLC, Nina Corporation I, Inc., Nina Company II, LLC and Nina Company III, LLC. 

“Acquisition Transactions”: means the transactions contemplated by the Acquisition Agreement. 

 “Additional Term B Commitment”: the obligation of the Additional Term B
Lender to make a Term B Loan on the Restatement Effective Date in an aggregate principal amount equal to the excess of $6,350,000,000 over the aggregate principal amount of Converted Term Loans. 

“Additional Term B Lender”: means the Lender identified as such in the Restatement Agreement. 

“Administrative Agent”: as defined in the preamble hereto. 

“Affiliate”: as to any Person, any other Person that, directly or indirectly, is in control of, is controlled by, or is under
common control with, such Person. For purposes of this definition, “control” of a Person means the power, directly or indirectly, to direct or cause the direction of the management and policies of such Person, whether by contract or
otherwise. 
 “Agent Parties”: as defined in Section 10.2(c). 

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

“Agreement”: this Amended and Restated Credit Agreement, as further amended, supplemented or otherwise modified from time to
time. 
 “Allocated Proceeds”: as defined in Section 2.9(a). 

“Amendment
No. 1”: Amendment No. 1 to this Agreement, dated as of January 24, 2019.  

“Amendment No. 1
Effective Date”: as defined in Amendment No. 1.  

“Annualized Asset Cash Flow Amount”: with respect to any Disposition of assets, an amount equal to the portion of
Consolidated Operating Cash Flow for the most recent Asset Disposition Test Period ending prior to the date of such Disposition which was contributed by such assets multiplied by four. 

“Annualized Operating Cash Flow”: for any fiscal quarter, an amount equal to Consolidated Operating Cash Flow for such period
multiplied by four. 
 “Annualized Pro Forma Operating Cash Flow”: an amount, determined on any Disposition Date or
Exchange Date in connection with any proposed Disposition or Exchange pursuant to Section 7.5(f) or (g), equal to Consolidated Operating Cash Flow for the most recent Asset Disposition Test Period multiplied by four, calculated in the
manner contemplated by Section 1.2(f) but excluding the effect of such Disposition or Exchange. 

  
 -2- 

 “Applicable Margin”: 

(a) with respect to the Revolving Loans and Swingline Loans, (x) if CCI has a corporate family rating that is an Investment Grade Rating
from at least two Rating Agencies, the rate per annum set forth under the relevant column heading below: 
  

									
	 	  	ABR Loans	 	 	Eurodollar Loans	 
	 Revolving Loans
	  	 	0.25	% 	 	 	1.25	% 
	 Swingline Loans
	  	 	0.25	% 	 	 	N/A	 

 or (y) otherwise, the rate per annum set forth under the relevant column heading below: 

 

									
	 	  	ABR Loans	 	 	Eurodollar Loans	 
	 Revolving Loans
	  	 	0.50	% 	 	 	1.50	% 
	 Swingline Loans
	  	 	0.50	% 	 	 	N/A	 

 ; provided, that (i) the Applicable Margin with respect to Revolving Loans made pursuant to any
Extended Revolving Commitment following the
RestatementAmendment No. 1 Effective Date shall be as set forth in the applicable Incremental Activation Notice and (ii) the Applicable Margin for Swingline Loans, at any time, shall be equal to the highest Applicable Margin that
would be applicable to any Revolving Loan that is an ABR Loan at such time; 
 (b) with respect to Term A-2 Loans, (i) 0.50% in
the case of ABR Loans and (ii) 1.50% in the case of Eurodollar Loans; 
 (c) with respect to Term A-3 Loans, (i) 0.50% in the case of ABR Loans and (ii) 1.50% in the case of Eurodollar Loans; 

(d) with respect to Term
B Loans, (i) 1.00% in the case of ABR Loans and (ii) 2.00% in the case of Eurodollar Loans; 

(d(e
) with respect to any other Incremental Term Loans, such per annum rates as shall be agreed to by the Borrower and the applicable Incremental Term Lenders as shown in the applicable Incremental
Activation Notice; and 
 (ef) with respect to Extended Term Loans, such per annum rates as shall be agreed to by
the Borrower and the applicable Extending Term Lenders as shown in the applicable Incremental Activation Notice. 

“Applicable Price”: as defined in Section 2.8(b). 

“Application”: an application, in such form as the relevant Issuing Lender may specify from time to time, requesting such
Issuing Lender to open a Letter of Credit. 
 “Approved Fund”: as defined in Section 10.6. 

“Asset Disposition Test Period”: as of any date of determination, the most recent fiscal quarter as to which financial
statements have been delivered pursuant to Section 6.1. 

  
 -3- 

 “Asset Sale”: any Disposition of property or series of related Dispositions
of property (excluding (a) Exchanges pursuant to which no cash consideration is received by the Borrower or any of its Subsidiaries and (b) any such Disposition permitted by clause (a), (b), (c), (d), (e), (h), (i), (j) or (l) of
Section 7.5) that yields gross cash proceeds to the Borrower or any of its Subsidiaries in excess of $250,000,000. 

“Assignee”: as defined in Section 10.6(b)(i). 

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

“Assumption Agreement”: an agreement in substantially the form of the applicable Exhibit to the Guarantee and Collateral
Agreement, pursuant to which a Subsidiary of the Borrower becomes a party thereto. 
 “Attributable Debt”: in respect of a
sale and leaseback transaction entered into by the Borrower or any of its Subsidiaries, at the time of determination, the present value of the obligation of the lessee for net rental payments during the remaining term of the lease included in such
sale and leaseback transaction including any period for which such lease has been extended or may, at the sole option of the lessor, be extended. Such present value shall be calculated using a discount rate equal to the rate of interest implicit in
such transaction, determined in accordance with GAAP. 
 “Authorizations”: all filings, recordings and registrations with,
and all validations or exemptions, approvals, orders, authorizations, consents, Licenses, certificates and permits from, the FCC, applicable public utilities and other Governmental Authorities, including, without limitation, CATV Franchises, FCC
Licenses and Pole Agreements. 
 “Available Amount”: the sum of : 

(i) $2,000,000,000; plus 

(ii) the excess of (x) Consolidated Operating Cash Flow for the period, taken as a single accounting period, commencing on
January 1, 2018 and ending on the last day of the Borrower’s most recent fiscal quarter for which financial statements have been delivered pursuant to Section 6.1 minus (y) 130% of cumulative consolidated cash interest expense of
the Borrower for the period, taken as a single accounting period, commencing on January 1, 2018 and ending on the last day of the Borrower’s most recent fiscal quarter for which financial statements have been delivered pursuant to
Section 6.1; plus 
 (iii) an amount equal to 100% of Capital Stock Sale Proceeds (reduced for purposes of this clause
(iii) by any amount of such Capital Stock Sale Proceeds (x) used in connection with an Investment made in reliance on Section 7.7(h) or (y) used in connection with any prepayment of Specified Long Term Indebtedness in reliance on
Section 7.8(a)(iv); plus 
 (iv) any cash return of Investment to the Borrower or any Subsidiary (including upon any
disposition of any such Investment) made in reliance on Section 7.7(o) from a Person other than the Borrower or any Subsidiary; minus 

(v) the aggregate amount of Restricted Payments made after the Restatement Effective Date in reliance on Section 7.6(k),
the aggregate amount of Investments made after the Restatement Effective Date in reliance on Section 7.7(o) and the aggregate amount of prepayments of Specified Long Term Indebtedness made after the Restatement Effective Date in reliance on
Section 7.8(a)(vii). 

  
 -4- 

 “Available Liquidity”: at any date, the sum of (a) the Available
Revolving Commitments, (b) the amount of undrawn commitments in respect of Incremental Term Loans that are in effect on such date pursuant to Incremental Activation Notices to the extent that the required use of proceeds with respect to the
proceeds of such Incremental Term Loans is not more restrictive than the representation set forth in Section 4.16 and (c) the aggregate amount of cash and Cash Equivalents on hand of the Borrower and its Subsidiaries not subject to any
Lien (other than pursuant to the Loan Documents, Liens permitted by Section 7.3(o), (r) (to the extent subject to a First Lien Intercreditor Agreement) or (s) or inchoate Liens permitted by Section 7.3(a)). 

“Available Revolving Commitment”: as to any Revolving Lender at any time, an amount equal to the excess, if any, of
(a) such Lender’s Revolving Commitment then in effect over (b) such Lender’s Revolving Extensions of Credit then outstanding; provided, that in calculating any Lender’s Revolving Extensions of Credit for the
purpose of determining such Lender’s Available Revolving Commitment pursuant to Section 2.6(a), the aggregate principal amount of Swingline Loans then outstanding shall be deemed to be zero. 

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

“Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I of
ERISA, (b) a “plan” as defined in and subject to Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or Section 4975 of
the Code) the assets of any such “employee benefit plan” or “plan”. 
 “Board”: the Board of Governors
of the Federal Reserve System of the United States (or any successor). 
 “Borrower”: as defined in the preamble hereto.

 “Borrower Materials”: as defined in Section 6.1. 

“Borrowing Date”: any Business Day specified by the Borrower in a Notice of Borrowing as a date on which the Borrower
requests the relevant Lenders to make Loans hereunder. 
 “Bright House Acquisition Agreement”: means that certain
Contribution Agreement, dated as of March 31, 2015, as amended on May 23, 2015 and as the same may be further amended so long as such amendments are not, taken as a whole, materially adverse to the Lenders, by and among CCI, certain of its
subsidiaries and the other parties thereto. 
 “Bright House Acquisition Transactions”: means the transactions contemplated
by the Bright House Acquisition Agreement. 

  
 -5- 

 “Bright House Transaction Agreements”: the Bright House Acquisition
Agreement and those documents listed in the definition of “Transaction Agreements” as set forth in the Bright House Acquisition Agreement. 

“Budget”: as defined in Section 6.2(c). 

“Business”: as defined in Section 4.17(b). 

“Business Day”: a day other than a Saturday, Sunday or other day on which commercial banks in New York City are authorized or
required by law to close, provided, that with respect to notices and determinations in connection with, and payments of principal and interest on, Eurodollar Loans, such day is also a day for trading by and between banks in Dollar deposits in
the interbank eurodollar market. 
 “Capital Stock Sale Proceeds”: the aggregate net proceeds (including the fair market
value of the non-cash proceeds) received by the Borrower or its Subsidiaries from and after January 1, 2018, in each case 

(x) as a contribution to the common equity capital or from the issue or sale of Equity Interests from any Designated Holding
Company from and after January 1, 2018, or 
 (y) from the issue or sale of Qualified Indebtedness, debt securities or
other Indebtedness of the Borrower that has been converted into or exchanged for such Equity Interests (other than Equity Interests (or Qualified Indebtednes, debt securities or other Indebtedness) sold to a Subsidiary of the Borrower. 

“Cash Collateralize”: to pledge and deposit with or deliver to the Administrative Agent, for the benefit of the
Administrative Agent, Issuing Lenders and/or Swingline Lender (as applicable) and the Revolving Lenders, as collateral for L/C Obligations, obligations in respect of Swingline Loans, or obligations of Revolving Lenders to fund participations in
respect of either thereof (as the context may require), cash or deposit account balances or, if an Issuing Lender or Swingline Lender benefiting from such collateral shall agree in its sole discretion, other credit support, in each case pursuant to
documentation in form and substance reasonably satisfactory to (a) the Administrative Agent and (b) the applicable Issuing Lender(s) and/or the Swingline Lender (as applicable). 

“Cash Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral
and other credit support. 
 “Cash Equivalents”: (a) marketable direct obligations issued by, or unconditionally
guaranteed by, the United States government or issued by any agency thereof and backed by the full faith and credit of the United States, in each case maturing within one year from the date of acquisition; (b) certificates of deposit, time
deposits, eurodollar time deposits or overnight bank deposits having maturities of six months or less from the date of acquisition issued by any Lender or by any commercial bank organized under the laws of the United States or any state thereof
having combined capital and surplus of not less than $500,000,000; (c) commercial paper of an issuer rated at the time of acquisition at least A-1 by Standard & Poor’s Ratings Services (“S&P”) or P-1 by
Moody’s Investors Service, Inc. (“Moody’s”), or carrying an equivalent rating by a nationally recognized rating agency, if both of the two named rating agencies cease publishing ratings of commercial paper issuers
generally, and maturing within six months from the date of acquisition; (d) repurchase obligations of any Lender or of any commercial bank satisfying the requirements of clause (b) of this definition, having a term of not more than 30
days, with respect to securities issued or fully guaranteed or insured by the United States government; (e) securities with maturities of one year or less from the date of acquisition issued or fully guaranteed by any state,

  
 -6- 

 
commonwealth or territory of the United States, by any political subdivision or taxing authority of any such state, commonwealth or territory or by any foreign government, the securities of which
state, commonwealth, territory, political subdivision, taxing authority or foreign government (as the case may be) are rated at the time of acquisition at least A by S&P or A by Moody’s; (f) securities with maturities of six months or
less from the date of acquisition backed by standby letters of credit issued by any Lender or any commercial bank satisfying the requirements of clause (b) of this definition; or (g) shares of money market mutual or similar funds which
invest exclusively in assets satisfying the requirements of clauses (a) through (f) of this definition. 
 “CATV
Franchise”: collectively, with respect to the Borrower and its Subsidiaries, (a) any franchise, license, permit, wire agreement or easement granted by any political jurisdiction or unit or other local, state or federal franchising
authority (other than licenses, permits and easements not material to the operations of a CATV System) pursuant to which such Person has the right or license to operate a CATV System and (b) any law, regulation, ordinance, agreement or other
instrument or document setting forth all or any part of the terms of any franchise, license, permit, wire agreement or easement described in clause (a) of this definition. 

“CATV System”: any cable distribution system owned or acquired by the Borrower or any of its Subsidiaries which receives
audio, video, digital, other broadcast signals or information or telecommunications by cable, optical, antennae, microwave or satellite transmission and which amplifies and transmits such signals to customers of the Borrower or any of its
Subsidiaries. 
 “CCH”: Charter Communications Holdings, LLC, a Delaware limited liability company, together with its
successors. 
 “CCHC”: Charter Communications Holding Company, LLC, a Delaware limited liability company, together with its
successors. 
 “CCI”: Charter Communications, Inc., a Delaware corporation (f/k/a CCH I, Inc.), together with its
successors. 
 “CCI Group”: the collective reference to CCI, CCHC, CCH and each of their respective Subsidiaries (including
the Borrower and its Subsidiaries) and any Non-Recourse Subsidiaries. 
 “Change in Law” means the occurrence, after the
Restatement Effective Date, of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation
or application thereof by any Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided that notwithstanding
anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or
directives promulgated by the Bank for International settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States 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 or issued. 
 “Change of Control”: as
defined in Section 8.1(k). 
 “Charter Group”: the collective reference to CCI, CCHC, the Designated Holding
Companies, the Borrower and its Subsidiaries. 

  
 -7- 

 “Class”: with respect to any Loan, refers to whether such Loan is a
Revolving Loan, a Term A-2 Loan, a Term A-3 Loan, a Term B Loan, an additional
Incremental Term Loan of a particular Series, an Extended Term Loan of a particular Series or a Replacement Term Loan of a particular Series. 

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

“Collateral”: all property of the Loan Parties, now owned or hereafter acquired, upon which a Lien is purported to be created
by the Guarantee and Collateral Agreement. 
 “Commercial Contracts”: commercial agreements entered into by the Borrower on
behalf of or for the benefit of its Subsidiaries in respect of the purchase or sale of capital assets or other products or services used in the ordinary course operation of the business of such Subsidiaries and/or the properties of such
Subsidiaries, and other agreements entered into by the Borrower in respect of any acquisition of assets by, or Disposition of assets of, any Subsidiary of the Borrower otherwise permitted by this Agreement, provided that, in each case,
(a) no such arrangement shall involve the acquisition of real estate, fixtures or franchise agreements, and (b) any such assets so purchased (other than assets described in Section 7.14(b)(ii)(z)) shall promptly following such
purchase only be owned by the relevant Subsidiary and not by the Borrower. 
 “Commitment Fee Rate”: (i) with respect
to the Revolving Commitments existing on the
RestatementAmendment No. 1 Effective Date, 0.30% per annum and (ii) with respect to any Extended Revolving Commitment, the rate provided in the applicable Incremental Activation Notice. 

“Commitments”: the collective reference to the Revolving Commitments, the Additional Term B Commitment, the Term A-2 Commitments and the Term A-23
Commitments. 
 “Commonly Controlled Entity”: an entity, whether or not incorporated, that is under common control
with any Loan Party within the meaning of Section 4001 of ERISA or is part of a group that includes any Loan Party and that is treated as a single employer under Section 414 of the Code. 

“Compliance Certificate”: a certificate duly executed by a Responsible Officer, substantially in the form of Exhibit B. 

“Conduit Lender”: any special purpose corporation organized and administered by any Lender for the purpose of making Loans
otherwise required to be made by such Lender and designated by such Lender in a written instrument; provided, that the designation by any Lender of a Conduit Lender shall not relieve the designating Lender of any of its obligations to fund a
Loan under this Agreement if, for any reason, its Conduit Lender fails to fund any such Loan, and the designating Lender (and not the Conduit Lender) shall have the sole right and responsibility to deliver all consents and waivers required or
requested under this Agreement with respect to its Conduit Lender, and provided, further, that no Conduit Lender shall (a) be entitled to receive any greater amount pursuant to Section 2.16, 2.17, 2.18 or 10.5 than the
designating Lender would have been entitled to receive in respect of the extensions of credit made by such Conduit Lender or (b) be deemed to have any Revolving Commitment. 

“Consideration”: with respect to any Investment or Disposition, (a) any cash or other property (valued at fair market
value in the case of such other property) paid or transferred in connection therewith, (b) the principal amount of any Indebtedness assumed in connection therewith and (c) any letters of credit, surety arrangements or security deposits
posted in connection therewith. 

  
 -8- 

 “Consolidated First Lien Leverage Ratio”: as of the last day of any period,
the ratio of (a) the sum of (i) the aggregate principal amount of all Indebtedness (including L/C Obligations) outstanding under this Agreement at such date plus (ii) the aggregate principal amount of any other Indebtedness
(including First Lien Notes but excluding (x) in the case of contingent obligations of the type described in clause (f) of the definition of “Indebtedness”, any such obligations not constituting L/C Obligations and
(y) Indebtedness incurred pursuant to Section 7.2(g)) of the Borrower and its Subsidiaries at such date that is secured by the Collateral on a basis pari passu with the Indebtedness under this Agreement, determined on a
consolidated basis in accordance with GAAP minus (iii) the aggregate amount of unrestricted cash and Cash Equivalents (in each case, free and clear of all Liens other than any Lien that is permitted under Section 7.3) included in
the consolidated balance sheet of the Borrower and its Subsidiaries as of such date to (b) Annualized Operating Cash Flow determined in respect of the fiscal quarter ending on such day. 

“Consolidated Leverage Ratio”: as of the last day of any period, the ratio of (a) Consolidated Total Debt on such day to
(b) Annualized Operating Cash Flow determined in respect of the fiscal quarter ending on such day. 
 “Consolidated Net
Income”: for any period, the consolidated net income (or loss) of the Borrower and its Subsidiaries, determined on a consolidated basis in accordance with GAAP; provided that, GAAP to the contrary notwithstanding, there shall be
excluded (a) the income (or deficit) of any Person accrued prior to the date it becomes a Subsidiary of the Borrower or is merged into or consolidated with the Borrower or any of its Subsidiaries, (b) the income (or deficit) of any Person
(other than a Subsidiary of the Borrower) in which the Borrower or any of its Subsidiaries has an ownership interest, except to the extent that any such income is actually received by the Borrower or such Subsidiary in the form of dividends or
similar distributions, (c) the undistributed earnings of any Subsidiary of the Borrower (including any Excluded Acquired Subsidiary) to the extent that the declaration or payment of dividends or similar distributions by such Subsidiary is not
at the time permitted by the terms of any Contractual Obligation (other than under any Loan Document) or Requirement of Law applicable to such Subsidiary and (d) whether or not distributed, the income of any Non-Recourse Subsidiary. 

“Consolidated Net
Tangible Assets” means, as of any date of determination, the total amount of assets (less applicable reserves and other properly deductible items) of the Borrower and its Subsidiaries less the sum of (1) all goodwill, trade names,
trademarks, patents, unamortized debt discount and expense and other intangibles, and (2) all current liabilities, in each case, reflected on the most recent consolidated balance sheet of the Borrower and its Subsidiaries as at the end of the
most recent ended fiscal quarter for which financial statements have been delivered pursuant to Section 6.1(a) or (b), determined on a consolidated basis in accordance with GAAP on a pro forma basis to give effect to any Material Acquisition or
Material Disposition made after such balance sheet date and on or prior to the date of determination. 

“Consolidated Operating Cash Flow”: for any period with respect to the Borrower and its Subsidiaries, Consolidated Net Income
for such period plus, without duplication and to the extent deducted in computing Consolidated Net Income for such period, the sum of (i) total income tax expense, (ii) interest expense, amortization or writeoff of debt discount and
debt issuance costs and commissions, discounts and other fees and charges associated with Indebtedness, (iii) depreciation and amortization expense, (iv) management fees expensed during such period, (v) any extraordinary or
non-recurring expenses or losses, (vi) any expenses or losses consisting of restructuring charges, litigation settlements and judgments and related costs, (vii) losses on Dispositions of assets outside of the ordinary course of business,
(viii) other non-cash items reducing such Consolidated Net Income and (ix) the amount of “run-rate” cost savings projected by the Borrower in good faith, net of the amount of actual benefits realized or expected to be realized
prior to or during such period (which cost savings shall be calculated on a pro forma basis as though they had been realized on the first day of such period) from actions taken or to be taken within four fiscal quarters of any Material Acquisition
or Disposition of a line of business or cable 

  
 -9- 

 
system; provided that (A) a Responsible Officer of the Borrower shall have certified in writing to the Administrative Agent that (x) such cost savings are reasonably identifiable
and expected to be achieved based on such actions and (y) the benefits resulting therefrom are anticipated by the Borrower to be realized within twelve (12) months of such Material Acquisition or Disposition and (B) the aggregate
amount added back pursuant to this clause (ix) for any period shall not exceed 10% of Consolidated Operating Cash Flow for such period prior to giving effect to this clause (ix), minus, without duplication and to the extent included in
the statement of Consolidated Net Income for such period, the sum of (i) any extraordinary or non-recurring income or gains, (ii) gains on Dispositions of assets outside of the ordinary course of business and (iii) other non-cash
items increasing such Consolidated Net Income, all as determined on a consolidated basis in accordance with GAAP. 
 “Consolidated
Total Debt”: at any date, the aggregate principal amount of all Indebtedness (other than (x) in the case of contingent obligations of the type described in clause (f) of the definition of “Indebtedness”, any such
obligations not constituting L/C Obligations and (y) Indebtedness incurred pursuant to Section 7.2(g)) of the Borrower and its Subsidiaries at such date, determined on a consolidated basis in accordance with GAAP less the aggregate
amount of unrestricted cash and Cash Equivalents (in each case, free and clear of all Liens other than any Lien that is permitted under Section 7.3) included in the consolidated balance sheet of the Borrower and its Subsidiaries as of such
date. 
 “Contractual Obligation”: as to any Person, any provision of any debt or equity security issued by such Person or
of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 

“Converted Term Loan”: as to any Restatement Consenting Lender that has indicated on its counterpart to the Restatement
Agreement that it is requesting to convert its Term E-1 Loan , Term F-1 Loan, Term H-1 Loan and/or Term I-1 Loan to a Term B Loan, the entire aggregate principal amount of such Restatement Consenting Lender’s applicable Existing Term Loans
subject to such request (or, if less, the amount notified to such Lender by the Administrative Agent prior to the Restatement Effective Date). 

“Converting Term A-2
Lender”: means each Lender with Term A-2 Loans immediately prior to the Amendment No. 1 Effective Date that has returned a counterpart to Amendment No. 1 indicating its election to have its Term A-2 Loan converted to a Term A-3 Loan
on the Amendment No. 1 Effective Date. 
 “Debt Incurrence
Prepayment Event”: any incurrence or issuance of Refinancing Term Loans or Refinancing First Lien Notes. 
 “Debt
Repayment”: as defined in Section 7.6(c). 
 “Debtor Relief Laws”: the Bankruptcy Code of the United States,
and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable
jurisdictions from time to time in effect and affecting the rights of creditors generally. 
 “Default”: any of the events
specified in Section 8.1, whether or not any requirement for the giving of notice, the lapse of time, or both, has been satisfied. 

“Defaulting Lender”: subject to Section 2.21(b), any Revolving Lender that, as reasonably determined by the
Administrative Agent (which determination shall, upon reasonable request by the Borrower, be made promptly by the Administrative Agent if the Administrative Agent reasonably determines the conditions set forth below apply), (a) has failed to
perform any of its funding obligations 

  
 -10- 

 
hereunder, including in respect of its Revolving Loans or participations in respect of Letters of Credit or Swingline Loans, within three Business Days of the date required to be funded by it
hereunder unless such obligation is the subject of a good faith dispute, (b) has notified the Borrower or the Administrative Agent that it does not intend to comply with its funding obligations hereunder or has made a public statement to that
effect with respect to its funding obligations hereunder or under other agreements in which it commits to extend credit except to the extent any such obligation is the subject of a good faith dispute, (c) has failed, within three Business Days
after request by the Administrative Agent (which request the Administrative Agent shall make if reasonably requested by the Borrower), to confirm in a manner satisfactory to the Administrative Agent that it will comply with its funding obligations
except to the extent subject to a good faith dispute, or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law or Bail-In Action, (ii) had a receiver,
conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or a custodian appointed for it, or (iii) taken any action in furtherance of, or indicated
its consent to, approval of or acquiescence in any such proceeding or appointment (unless, in each case, such Revolving Lender has confirmed it will comply with its obligations hereunder and the Borrower, the Administrative Agent and each Issuing
Lender is reasonably satisfied that such Revolving Lender is able to continue to perform its obligations hereunder); provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity
interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from 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 or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. 

“De Minimis
Subsidiary” at any date of determination, each Subsidiary of the Borrower that (x) is not a Specified Excluded Subsidiary and (y) does not account for more than 5% of (i) Total Assets on the date of the most recent consolidated
balance sheet delivered pursuant to Section 6.1(a) or (b) or (ii) consolidated total revenues of the Borrower and its Subsidiaries for the period of four fiscal quarters ending on the date of the most recent consolidated balance sheet
delivered pursuant to Section 6.1(a) or (b); provided that if, in the aggregate, Subsidiaries of the Borrower that are not Subsidiary Guarantors and that are not otherwise Specified Excluded Subsidiaries account for more than 10% of
(i) Total Assets on the date of the most recent consolidated balance sheet delivered pursuant to Section 6.1(a) or (b) or (ii) consolidated total revenues of the Borrower and its Subsidiaries for the period of four fiscal
quarters ending on the date of the most recent consolidated balance sheet delivered pursuant to Section 6.1(a) or (b), then, in either case, the Borrower shall promptly cause such De Minimis Subsidiaries as may be selected by the Borrower to
comply with the requirements of Section 6.9 (as though such Subsidiaries were not De Minimis Subsidiaries) to the extent necessary so that all De Minimis Subsidiaries that are not Subsidiary Guarantors or Specified Excluded Subsidiaries do not,
in the aggregate, exceed such threshold. 
 “Designated Holding
Companies”: the collective reference to (i) CCH, (ii) each direct and indirect Subsidiary, whether now existing or hereafter created or acquired, of CCH of which Holdings is a direct or indirect Subsidiary and (iii) Holdings.

 “Designated Non-Cash Consideration”: the fair market value (as determined in good faith by the Borrower) of non-cash
consideration received by the Borrower or one of its Subsidiaries in connection with a Disposition pursuant to Section 7.5(f) that is so designated as Designated Non-Cash Consideration pursuant to a certificate of a Responsible Officer
delivered to the Administrative Agent at or prior to the time such Designated Non-Cash Consideration is received, setting forth the basis of such valuation, less the amount of cash or Cash Equivalents received in connection with a subsequent
payment, redemption, retirement, sale or other disposition of such Designated Non-Cash Consideration. A particular item of Designated Non-Cash Consideration will no longer be considered to be outstanding when and to the extent it has been paid,
redeemed or otherwise retired or sold or otherwise disposed of in compliance with Section 7.5. 

  
 -11- 

 “DHC Debt”: the collective reference to all Indebtedness of the Designated
Holding Companies. 
 “DHC Default”: with respect to any one or more issues of DHC Debt aggregating more than $500,000,000,
any default (other than a default based on the failure of the relevant issuer to provide a certificate, report or other information, until notice of such default is given to such issuer by the required holders or trustee as specified in the
indenture or agreement governing such DHC Debt) or event of default. 
 “Discharge Date”: as defined in the Guarantee and
Collateral Agreement. 
 “Disposition”: with respect to any property, any sale, lease (other than leases in the ordinary
course of business, including leases of excess office space and fiber leases), sale and leaseback, assignment, conveyance, transfer or other disposition thereof, including pursuant to an exchange for other property. The terms
“Dispose” and “Disposed of” shall have correlative meanings. 
 “Disposition Date”: as
defined in Section 7.5(f). 
 “Documentation Agents”: the entities identified as such on the cover of this Agreement.

 “Dollars” and “$”: dollars in lawful currency of the United States. 

“Domestic Subsidiary”: any Subsidiary of the Borrower organized under the laws of any jurisdiction within the United States.

 “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. 

“Effective Yield”: at any time, the effective yield for any type of Indebtedness as determined in good faith by the Borrower
(which shall take into account the interest rate provisions applicable thereof (including margins and “floors”) and be deemed to include all upfront or similar fees or original issue discount payable to all lenders providing such
Indebtedness in the initial primary syndication thereof (but excluding bona fide arranger fees , commitment fees or similar fees payable in connection therewith that are not generally shared with the relevant Lenders and if, applicable, consent fees
for an amendment paid generally to consenting Lenders) and, in the case of upfront fees and original issue discount, equated to interest margin based on an assumed four year weighted average life). 

  
 -12- 

 “Environmental Laws”: any and all foreign, federal, state, local or
municipal laws, rules, orders, regulations, statutes, ordinances, codes, decrees, requirements of any Governmental Authority or other Requirements of Law (including common law) regulating, relating to or imposing liability or standards of conduct
concerning protection of human health or the environment, as now or may at any time hereafter be in effect. 
 “Equally and Ratably
Secured Notes Obligations”: as defined in the Guarantee and Collateral Agreement. 
 “Equity Interests”: any and
all shares, interests, participations or other equivalents (however designated) of capital stock of a corporation, any and all classes of membership interests in a limited liability company, any and all classes of partnership interests in a
partnership and any and all other equivalent ownership interests in a Person, and any and all warrants, rights or options to purchase any of the foregoing. 

“ERISA”: the Employee Retirement Income Security Act of 1974, as amended from time to time and the regulations promulgated
thereunder. 
 “Escrow Assumption”: with respect to any Incremental Term Loan that is initially established as an Escrow
Incremental Term Loan, the assumption of the Escrow Borrower’s obligations with respect thereto by the Borrower pursuant to an assumption agreement in form reasonably satisfactory to the Administrative Agent. 

“Escrow Borrower”: a Non-Recourse Subsidiary or another Person that is not the Borrower or a Subsidiary, in each case,
established to (i) borrow Escrow Incremental Term Loans (pending assumption of such Incremental Term Loans by the Borrower) or (ii) assume the obligations of the Borrower with respect to previously incurred Incremental Term Loans, in each
case, that is designated in the applicable Incremental Activation Notice or assumption agreement as an Escrow Borrower and that is not engaged in any material operations and does not have any other material assets other than in connection therewith.

 “Escrow Funding Assignment” the assignment by the Borrower to an Escrow Borrower and the assumption by such Escrow
Borrower, in each case, of the obligations of the Borrower with respect to previously incurred Incremental Term Loans. 
 “Escrow
Incremental Term Loan”: any Incremental Term Loan that either (x) is initially borrowed by an Escrow Borrower or (y) is initially borrowed by the Borrower but was subsequently converted to an Escrow Incremental Term Loans in
accordance with Section 2.1(g), in each case, for so long as the Escrow Assumption with respect to such Incremental Term Loan has not occurred. 

“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 Reserve Requirements”: for any day, as applied to a
Eurodollar Loan, the aggregate (without duplication) of the maximum rates (expressed as a decimal fraction) of reserve requirements in effect on such day (including basic, supplemental, marginal and emergency reserves under any regulations of the
Board or other Governmental Authority having jurisdiction with respect thereto) dealing with reserve requirements prescribed for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board)
maintained by a member bank of the Federal Reserve System. 

  
 -13- 

 “Eurodollar Base Rate”: for any Interest Period with respect to a
Eurodollar Loan, the rate per annum equal to the London Interbank Offered Rate (“LIBOR”) or a comparable or successor rate, which rate is approved by the Administrative Agent, as published on the applicable Bloomberg screen page (or
such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, for
Dollar deposits (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period; provided that to the extent a comparable or successor rate is approved by the Administrative Agent in connection herewith,
the approved rate shall be applied in a manner consistent with market practice; provided, further that to the extent such market practice is not administratively feasible for the Administrative Agent, such approved rate shall be
applied in a manner as otherwise reasonably determined by the Administrative Agent. 
 “Eurodollar Loans”: Loans for which
the applicable rate of interest is based upon the Eurodollar Rate. 
 “Eurodollar Rate”: with respect to each day during
each Interest Period pertaining to a Eurodollar Loan, a rate per annum determined for such day in accordance with the following formula (rounded upward to the nearest 1/100th of 1%): 

 

	
	Eurodollar Base Rate
	1.00 - Eurocurrency Reserve Requirements

 “Eurodollar Tranche”: the collective reference to Eurodollar Loans of a particular Class, the
then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day). 

“Event of Default”: any of the events specified in Section 8.1, provided that any requirement for the giving of
notice, the lapse of time, or both, has been satisfied. 
 “Exchange”: any exchange of operating assets for other operating
assets in a Permitted Line of Business and, subject to the last sentence of this definition, of comparable value and use to those assets being exchanged, including exchanges involving the transfer or acquisition (or both transfer and acquisition) of
Equity Interests of a Person so long as 100% of the Equity Interests of such Person held by the Borrower and its Subsidiaries are transferred or 100% of the Equity Interests of such Person are acquired, as the case may be. It is understood that
exchanges of the kind described above as to which a portion of the consideration paid or received is in the form of cash shall nevertheless constitute “Exchanges” for the purposes of this Agreement. 

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

“Exchange Date”: the date of consummation of any Exchange; provided that, with respect to a series of related
Dispositions required pursuant to a plan of Exchange contained in a single agreement, the Exchange Date shall be the date of the first such Disposition. 

“Exchange Excess Amount”: as defined in Section 7.5(g). 

“Excluded Acquired Subsidiary”: any Subsidiary described in paragraph (f) of Section 7.2 to the extent that the
documentation governing the Indebtedness referred to in said paragraph prohibits (including by reason of its inability to satisfy a leverage ratio or other financial covenant condition under such Indebtedness) such Subsidiary from becoming a
Subsidiary Guarantor, but only so long as such Indebtedness remains outstanding. 

  
 -14- 

 “Existing Class”: as defined in Section 2.1(h). 

“Existing Credit Agreement”: as defined in the recitals hereto. 

“Existing Letter of Credit”: each letter of credit outstanding under the Existing Credit Agreement immediately prior to the
Restatement Effective Date. 
 “Existing Loans” means the Existing Term Loans and all “Revolving Loans” and
“Swingline Loans” outstanding under the Existing Credit Agreement immediately prior to the Restatement Effective Date. 

“Existing Revolving Commitments”: each “Revolving Commitment” under the Existing Credit Agreement in effect
immediately prior to the Restatement Effective Date. 
 “Existing Term Loans”: all Term A-1 Loans, Term E-1 Loans, Term F-1
Loans, Term H-1 Loans and Term I-1 Loans outstanding under the Existing Credit Agreement immediately prior to the Restatement Effective Date. 

“Extended Revolving Commitment”: as defined in Section 2.1(i). 

“Extended Term Loans”: as defined in Section 2.1(h). 

“Extended Term Maturity Date”: with respect to the Extended Term Loans created pursuant to any Incremental Activation Notice,
the final maturity date specified in the applicable Incremental Activation Notice. 
 “Extending Term Lender”: as defined
in Section 2.1(h). 
 “Extension Election”: as defined in Section 2.1(h). 

“Extension Request”: as defined in Section 2.1(h). 

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

“FCC”: the Federal Communications Commission and any successor thereto. 

“FCC License”: any community antenna relay service, broadcast auxiliary license, earth station registration, business radio,
microwave or special safety radio service license issued by the FCC pursuant to the Communications Act of 1934, as amended. 

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

  
 -15- 

 “Finance Lease Obligations”: as to any Person, the obligations of such
Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are or would be required to be classified and accounted for as a
“financing lease” under FASB ASC Topic 842 or “capital lease” under FASB ASC Topic 840 (as “financing lease” and “capital lease” are defined in those FASB ASC Topics as of the Restatement Effective Date) on a
balance sheet of such Person and, for the purposes of this Agreement, the amount of such obligations at any time shall be the capitalized amount thereof at such time determined in accordance with FASB ASC Topic 842 or FASB ASC Topic 840, as relevant
at such time. 
 “First Lien Intercreditor Agreement”: (a) the First Lien Intercreditor Agreement, dated as of
May 18, 2016, by and among the Borrower, the Guarantors, the Administrative Agent, The Bank of New York Mellon Trust Company, N.A. and each other party from time to time thereto or (b) any other agreement by and among the Administrative
Agent and one or more collateral agents for the holders of First Lien Notes and/or Pre-Existing Debt (an “Other First Lien Agent”) appropriately completed and acknowledged by the Borrower and the Guarantors providing, among other
customary items (as determined by the Administrative Agent in consultation with the Borrower), that (i) for so long as any Commitments, Loans, Letters of Credit, or other Obligations are outstanding under this Agreement (other than contingent
obligations for which no claim has been asserted) the Administrative Agent, on behalf of the Lenders, shall have the sole right to enforce any Lien against any Collateral in which it has a perfected security interest (except that, to the extent the
principal amount of First Lien Notes and/or Pre-Existing Debt exceeds the principal amount of Loans and L/C Obligations under this Agreement, such agreement may provide that the applicable Other First Lien Agent shall instead be subject to a 90 day
standstill requirement with respect to such enforcement (which period shall be extended if the Administrative Agent commences enforcement against the Collateral during such period or is prohibited by any Requirement of Law from commencing such
proceedings) in the event it has given notice of an event of default under the indenture or other agreement governing First Lien Notes or Pre-Existing Debt for which it is agent and (ii) distributions on account of any enforcement against the
Collateral by the Administrative Agent or the Other First Lien Agent (including any distribution on account of the Collateral in any such proceeding pursuant to any Debtor Relief Laws) with respect to which each of the Administrative Agent and such
Other First Lien Agent have a perfected security interest shall be on a pro rata basis (subject to customary provisions dealing with intervening Liens that are prior to the Administrative Agent’s or such Other First Lien Agent’s security
interest and the unenforceability of any obligations purportedly secured by such Liens) based on the amount of the Obligations and the obligations owing under the First Lien Notes and Pre-Existing Debt, respectively. 

“First Lien Notes”: senior secured debt securities of the Borrower or a Guarantor (including any such debt securities
(i) issued by a Person that subsequently becomes a Guarantor or (ii) issued as unsecured debt securities that subsequently become secured by a Lien) that were either issued or assumed by the Borrower or a Guarantor (including as a result
of the guarantee of existing debt securities issued by a Person who was not a Guarantor at the time such debt securities were issued) (a) that are not guaranteed by any Subsidiary of the Borrower that is not a Guarantor, (b) that are not
secured by a Lien on any assets of the Borrower or any of the Subsidiaries that does not constitute Collateral, (c) except in the case of debt securities issued or assumed in connection with the Acquisition Transactions, the terms of which do
not provide for any scheduled repayment, mandatory redemption (except as provided in the succeeding clause (d)) or sinking fund obligations prior to the Term B Maturity Date; provided that the requirements of this clause (c) shall not
apply to Indebtedness in an aggregate principal amount outstanding at any time (which shall exclude any Indebtedness existing under this Agreement on the Restatement Effective Date 

  
 -16- 

 
and any Incremental Term A Loans incurred following the Restatement Effective Date) not to exceed 2.0x Annualized Operating Cash Flow, calculated in the manner contemplated by Section 1.2(f)
as if any Investment pursuant to which such Indebtedness was incurred occurred on the first day of the applicable Test Period, for the most recent fiscal quarter for which financial statements have been delivered pursuant to Section 6.1(a) or
(b) prior to such Indebtedness becoming First Lien Notes, (d) except in the case of debt securities issued in connection with the Acquisition Transactions, the terms of which do not require the Borrower or any of its Subsidiaries to
repurchase, repay or redeem such debt securities (or make an offer to do any of the foregoing) upon the happening of any event (other than as a result of an event of default thereunder or pursuant to customary “change of control”
provisions or asset sale offers) prior to the Term B Maturity Date; provided that the requirements of this clause (d) shall not apply to Indebtedness assumed by the Borrower or a Guarantor or issued by a Person who was not a Guarantor at
the time such debt securities were issued in an aggregate principal amount outstanding at any time not to exceed 2.0x Annualized Operating Cash Flow, calculated in the manner contemplated by Section 1.2(f) as if the Investment pursuant to which
such Indebtedness was incurred occurred on the first day of the applicable Test Period, for the most recent fiscal quarter for which financial statements have been delivered pursuant to Section 6.1(a) or (b) prior to such Indebtedness
becoming First Lien Notes and (e) except for Indebtedness assumed by the Borrower or a Guarantor or issued by a Person who was not a Guarantor at the time such debt securities were issued, the documentation for which provides for covenants,
events of default and terms that the Borrower determines are market for similar financings at the time such debt securities are issued; provided, that in no event shall such documentation contain any financial maintenance covenant (which term
does not apply to incurrence-based financial tests which may be included in such documentation) that is more restrictive than those set forth in this Agreement. 

“First Lien Term Cap”: means any amount so long as, after giving effect to any incurrence and repayment of Indebtedness on
such date, the Borrower would be in pro forma compliance with Section 7.1. 
 “Flow-Through Entity”: any Person
that is classified as a partnership or that is not treated as a separate tax paying entity, in each case, for United States federal, state or local income tax purposes. 

“Flow-Through Tax Period”: as defined in Section 7.6(d). 

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

“Fronting Exposure”: at any time there is a Defaulting Lender, (a) with respect to any Issuing Lender, such Defaulting
Lender’s Revolving Percentage of the outstanding L/C Obligations in respect of Letters of Credit issued by such Issuing Lender other than any such L/C Obligations as to which such Defaulting Lender’s participation obligation has been
reallocated to other Revolving Lenders or Cash Collateralized in accordance with the terms hereof and (b) with respect to the Swingline Lender, such Defaulting Lender’s Revolving Percentage of Swingline Loans other than Swingline Loans as
to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof. 

“Funding Office”: the office of the Administrative Agent specified in Section 10.2 or such other office as may be
specified from time to time by the Administrative Agent as its funding office by written notice to the Borrower and the Lenders. 

“GAAP”: generally accepted accounting principles in the United States as in effect from time to time, except that for
purposes of Section 7.1 and any incurrence test hereunder, GAAP shall be determined on the basis of such principles in effect on the Restatement Effective Date as applied in the preparation of the most recent audited financial statements
delivered pursuant to Section 6.1 prior to the 

  
 -17- 

 
Restatement Effective Date after giving effect to any change thereto that becomes effective on or prior to January 1, 2018. In the event that any “Accounting Change” (as defined
below) shall occur and such change results in a change in the method of calculation of financial covenants, incurrence tests, standards or terms in this Agreement, then the Borrower and the Administrative Agent agree to enter into negotiations in
order to amend such provisions of this Agreement so as to equitably reflect such Accounting Changes with the desired result that the criteria for evaluating the Borrower’s financial condition shall be the same after such Accounting Changes as
if such Accounting Changes had not been made. Until such time as such an amendment shall have been executed and delivered by the Borrower, the Administrative Agent and the Required Lenders, all financial covenants, standards and terms in this
Agreement shall continue to be calculated or construed as if such Accounting Changes had not occurred. “Accounting Changes” refers to changes in (a) accounting principles required by the promulgation of any rule, regulation,
pronouncement or opinion by the Financial Accounting Standards Board of the American Institute of Certified Public Accountants or, if applicable, the SEC, (b) the Borrower’s manner of accounting as directed or otherwise required or
requested by the SEC (including such SEC changes affecting a Qualified Parent Company and applicable to the Borrower), and (c) the Borrower’s manner of accounting addressed in a preferability letter from the Borrower’s independent
auditors to the Borrower (or a Qualified Parent Company and applicable to the Borrower) in order for such auditor to deliver an opinion on the Borrower’s financial statements required to be delivered pursuant to Section 6.1 without
qualification. 
 “Governmental Authority”: any nation or government, any state or other political subdivision thereof, any
agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative functions of or pertaining to government, any securities exchange and any
self-regulatory organization (including the National Association of Insurance Commissioners). 
 “Guarantee and Collateral
Agreement”: the Amended and Restated Guarantee and Collateral Agreement, dated as of May 18, 2016, executed and delivered by Holdings, the Borrower, each Subsidiary Guarantor and the Administrative Agent. 

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

  
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 “Guarantors”: the collective reference to Holdings and the Subsidiary
Guarantors. 
 “Hedge Agreements”: all interest rate swaps, caps or collar agreements or similar arrangements dealing with
interest rates or currency exchange rates or the exchange of nominal interest obligations, either generally or under specific contingencies. 

“Holdings”: as defined in the preamble hereto, together with any successor thereto. 

“Immaterial Subsidiary”: at any date of determination, each Subsidiary of the Borrower that, when aggregated with each other
Subsidiary as to which a specified condition in Section 8.1 applies at such time, does not account for more than 5% of (i) Total Assets at such date or (ii) Consolidated Operating Cash Flow for the period of four fiscal quarters
ending on the date of the most recent consolidated balance sheet delivered pursuant to Section 6.1(a) or (b). 
 “Incremental
Activation Notice”: with respect to any Incremental Term Loan, Replacement Term Loan, Extended Term Loan or Extended Revolving Commitment, the agreement signed by the Borrower (or, in the case of Escrow Incremental Term Loans, the Escrow
Borrower), the Administrative Agent and, in the case of any such agreement providing for Incremental Term Loans, Replacement Term Loans or Extended Revolving Commitments, the Lenders providing such Incremental Term Loans, Replacement Term Loans or
Extended Revolving Commitments, in each case, providing for the terms of such Incremental Term Loans, Extended Term Loans, Extended Revolving Commitments or Replacement Term Loans in accordance with the applicable requirements of
Section 2.1(g), (h), (i) or (j). 
 “Incremental Closing Date”: any Business Day designated as such in an
Incremental Activation Notice. 
 “Incremental Term A Loans” shall mean Incremental Term Loans incurred following the
Restatement Effective Date in reliance on the proviso to Section 2.1(g)(iii). 
 “Incremental Term Loan”: any term
loan borrowed following the Restatement Effective Date pursuant to Section 2.1(g). 
 “Incremental Term Maturity
Date”: with respect to the Incremental Term Loans to be made pursuant to any Incremental Activation Notice, the final maturity date specified in such Incremental Activation Notice. 

“Indebtedness”: of any Person at any date, without duplication, (a) all indebtedness of such Person for borrowed money,
(b) all obligations of such Person for the deferred purchase price of property or services (other than (i) accrued expenses, (ii) any earnout or similar obligations so long as such obligations remain contingent and (iii) trade
payables incurred in the ordinary course of such Person’s business), (c) all obligations of such Person evidenced by notes, bonds, debentures or other similar instruments, (d) all indebtedness created or arising under any conditional
sale or other title retention agreement with respect to property acquired by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale of such property),
(e) all Finance Lease Obligations of such Person, (f) all obligations of such Person, contingent or otherwise, as an account party under acceptances, letters of credit, surety bonds or similar arrangements, (g) the liquidation value
of all redeemable preferred Equity Interests of such Person, (h) all Guarantee Obligations of such Person in respect of obligations of the kind referred to in clauses (a)

  
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through (g) above, (i) all obligations of the kind referred to in clauses (a) through (h) above secured by (or for which the holder of such obligation has an existing right,
contingent or otherwise, to be secured by) any Lien on property (including accounts and contract rights) owned by such Person, whether or not such Person has assumed or become liable for the payment of such obligation, and (j) for the purposes
of Sections 8.1(e) and (f) only, all obligations of such Person in respect of
Hedge Agreements. The Indebtedness of any Person shall include, without duplication, the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result
of such Person’s ownership interest in or other relationship with such entity, except to the extent the terms of such Indebtedness expressly provide that such Person is not liable therefor. Notwithstanding the foregoing, any current or future
true up payment or other payments required by the terms of the Bright House Acquisition Agreement with respect to the Bright House Acquisition Transactions shall not constitute Indebtedness. 

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

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

“Intercompany Obligations”: as defined in the Guarantee and Collateral Agreement. 

“Interest Payment Date”: (a) as to any ABR Loan (including Swingline Loans), the last Business Day of each March, June,
September and December to occur while such Loan is outstanding and the final maturity date of such Loan, (b) as to any Eurodollar Loan having an Interest Period of three months or less, the last day of such Interest Period, (c) as to any
Eurodollar Loan having an Interest Period longer than three months, each day that is three months, or a whole multiple thereof, after the first day of such Interest Period and the last day of such Interest Period and (d) as to any Loan (other
than any Revolving Loan that is an ABR Loan and any Swingline Loan), the date of any repayment or prepayment made in respect thereof. 

“Interest Period”: as to any Eurodollar Loan, (a) initially, the period commencing on the borrowing or conversion date,
as the case may be, with respect to such Eurodollar Loan and ending one, two, three, six or, if consented to by (which consent shall not be unreasonably withheld) each Lender holding the relevant Class of Loans, twelve months or one week thereafter,
as selected by the Borrower in its notice of borrowing or notice of conversion, as the case may be, given with respect thereto; and (b) thereafter, each period commencing on the last day of the next preceding Interest Period applicable to such
Eurodollar Loan and ending one, two, three, six or, if consented to by (which consent shall not be unreasonably withheld) each Lender holding the relevant Class of Loans, twelve months thereafter, as selected by the Borrower by irrevocable notice to
the Administrative Agent not less than three Business Days prior to the last day of the then current Interest Period with respect thereto; provided that, all of the foregoing provisions relating to Interest Periods are subject to the
following: 
 (i) if any Interest Period would otherwise end on a day that is not a Business Day, such Interest Period shall
be extended to the next succeeding Business Day unless the result of such extension would be to carry such Interest Period into another calendar month in which event such Interest Period shall end on the immediately preceding Business Day; 

  
 -20- 

 (ii) the Borrower may not select an Interest Period (x) for any
Revolving Loan that would extend beyond the Revolving Termination Date for any then outstanding Revolving Commitment or (y) for any Term Loans of any Class that would extend beyond the Term Maturity Date for such Class; 

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

(iv) the Borrower shall select Interest Periods so as not to require a payment or prepayment of any Eurodollar Loan during an
Interest Period for such Loan or shall comply with Section 2.18 in connection with any such payment or prepayment. 

“Investment Grade Rating” means a rating equal to or higher than (x) in the case of Moody’s, Baa3 (or the
equivalent), (y) in the case of S&P, BBB—(or the equivalent) and (z) in the case of any other Rating Agency, the equivalent rating by such Rating Agency to the ratings described in clause (x) and (y). 

“Investments”: as defined in Section 7.7. 

“ISP” means, with respect to any Letter of Credit, the “International Standby Practices 1998” published by the
Institute of International Banking Law & Practice, Inc. (or such later version thereof as may be in effect at the time of issuance). 

“Issuing Lender”: Bank of America, N.A. and, subject to Section 3.1(c), JPMorgan Chase Bank, N.A. and any other
Revolving Lender that has agreed in its sole discretion to act as an “Issuing Lender” hereunder and that has been approved (such approval not to be unreasonably withheld, conditioned or delayed) in writing by the Administrative Agent as an
“Issuing Lender” hereunder, in each case in its capacity as issuer of any Letter of Credit. 
 “Joint Lead
Arrangers”: the Persons identified on the cover of this Agreement as “Joint Lead Arrangers and Joint Bookrunners” in their capacities as such. 

“Junior Lien Intercreditor Agreement”: a customary intercreditor agreement in form reasonably satisfactory to the
Administrative Agent and the Borrower pursuant to which, inter alia, any Lien that is intended to be subordinated to the Lien securing the Obligations, is so subordinated. 

“KPMG”: KPMG, LLP. 

“Laws”: collectively, all international, foreign, Federal, state and local statutes, treaties, rules, guidelines,
regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration thereof, and
all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not having the force of law. 

“L/C Commitment”: $750,000,000. 

“L/C Fee Payment Date”: the last day of each March, June, September and December and the last Business Day of the Revolving
Commitment Period for any applicable Revolving Commitment. 

  
 -21- 

 “L/C Obligations”: at any time, an amount equal to the sum of (a) the
aggregate then undrawn and unexpired amount of the then outstanding Letters of Credit and (b) the aggregate amount of drawings under Letters of Credit that have not then been reimbursed pursuant to Section 3.5. 

“L/C Participants”: with respect to any Letter of Credit, the collective reference to all Revolving Lenders other than the
Issuing Lender that issued such Letter of Credit. 
 “Lender Participation Notice”: as defined in Section 2.8(b)(iii).

 “Lenders”: as defined in the preamble hereto. 

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

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

“LIBOR Successor Rate”: as defined in Section 2.14. 

“LIBOR Successor Rate Conforming Changes” means, with respect to any proposed LIBOR Successor Rate, any conforming changes to
the definition of Interest Period, timing and frequency of determining rates and making payments of interest and other administrative matters agreed to between the Administrative Agent and the Borrower , to reflect the adoption of such LIBOR
Successor Rate and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent determines that adoption of any portion of such market practice is not
administratively feasible or that no market practice for the administration of such LIBOR Successor Rate exists, in such other manner of administration as the Administrative Agent reasonably determines in consultation with the Borrower). 

“License”: as to any Person, any license, permit, certificate of need, authorization, certification, accreditation,
franchise, approval, or grant of rights by any Governmental Authority or other Person necessary or appropriate for such Person to own, maintain, or operate its business or property, including FCC Licenses and CATV Franchises. 

“Lien”: any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge
or other security interest or any preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever (including any conditional sale or other title retention agreement and any finance lease having
substantially the same economic effect as any of the foregoing). 
 “Limited Condition Acquisition”: any acquisition,
including by way of merger, by the Borrower or one or more of its Subsidiaries permitted pursuant to this Agreement the consummation of which is not conditioned upon the availability of, or on obtaining, third party financing. 

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

“Loan Documents”: this Agreement, each Incremental Activation Notice (but, in the case of an Incremental Activation Notice
with respect to Escrow Incremental Term Loans, solely from and after the occurrence of the Escrow Assumption with respect to such Escrow Incremental Term Loans), the Guarantee and Collateral Agreement, the Notes, the Restatement Agreement and any
other agreements, documents or instruments to which any Loan Party is party and which is designated as a Loan Document. 

  
 -22- 

 “Loan Parties”: Holdings, the Borrower and each Subsidiary of the Borrower
that is a party to a Loan Document. 
 “Majority Facility Lenders”: with respect to (i) the Revolving Facility,
Lenders holding more than 50% of the Total Revolving Extensions of Credit (or prior to any termination of the Total Revolving Commitments, the holders of more than 50% of the Total Revolving Commitments) and (ii) any Class of Term Loans,
Lenders holding more than 50% of such Class of Term Loans. 
 “Management Fee Agreement”: the Second Amended and Restated
Management Agreement dated as of May 18, 2016 between the Borrower and CCI, as may be further amended from time to time in a manner not prohibited by this Agreement. 

“Material Acquisition” (i) for purposes of the definition of “Repricing Transaction”, means any acquisition of
all or substantially all of the assets of, or any business line, unit or division or product line (including research and development and related assets in respect of any product) of, any Person or of a majority of the outstanding Equity Interests
of any Person who is engaged in a similar business with an aggregate purchase price greater than or equal to $500,000,000 and (ii) for all other purposes, has the meaning set forth in Section 1.2(f). 

“Material Adverse Effect”: a material adverse effect on (a) the business, property, operations or condition (financial
or otherwise) of the Borrower and its Subsidiaries taken as a whole or (b) the validity or enforceability of any material provision of this Agreement or any of the other Loan Documents or the rights or remedies of the Administrative Agent or
the Lenders hereunder or thereunder. 
 “Material Information” shall mean information that is “material” as such
term is used in United States Federal and state securities laws. 
 “Materials of Environmental Concern”: any gasoline or
petroleum (including crude oil or any fraction thereof) or petroleum products or any hazardous or toxic substances, materials or wastes, defined or regulated as such in or under any Environmental Law, including asbestos, polychlorinated biphenyls
and urea-formaldehyde insulation. 
 “Maximum Tender Condition”: as defined in Section 2.23(b). 

“Minimum Tender Condition”: as defined in Section 2.23(b). 

“Multiemployer Plan”: a Plan that is a multiemployer plan as defined in Section 4001(a)(3) of ERISA. 

“Net Cash Proceeds”: (a) in connection with any Asset Sale or any Recovery Event, the proceeds thereof in the form of
cash and Cash Equivalents (including any such proceeds received by way of deferred payment of principal pursuant to a note or installment receivable or purchase price adjustment receivable or otherwise, but only as and when received), net of
attorneys’ fees, accountants’ fees, investment banking fees and consultants’ fees (in each case, including costs and disbursements), amounts required to be applied to the repayment of Indebtedness secured by a Lien expressly permitted
hereunder on any asset that is the subject of such Asset Sale or Recovery Event (other than any Lien pursuant to the Guarantee and Collateral Agreement or Liens that are subject to a First Lien Intercreditor Agreement or a Junior Lien Intercreditor
Agreement) and other customary fees and expenses actually incurred in 

  
 -23- 

 
connection therewith and net of taxes paid or reasonably estimated to be payable as a result thereof (after taking into account any available tax credits or deductions and any tax sharing
arrangements) and (b) in connection with any issuance or sale of Equity Interests or any incurrence of Indebtedness, the cash proceeds received from such issuance or incurrence, net of attorneys’ fees, investment banking fees,
accountants’ fees, underwriting discounts and commissions and other customary fees and expenses actually incurred in connection therewith. 

“New York UCC”: the Uniform Commercial Code as from time to time in effect in the State of New York. 

“Non-Excluded Taxes”: as defined in Section 2.17(a). 

“Non-Facility Letters of Credit”: as defined in the Guarantee and Collateral Agreement. 

“Non-Recourse Subsidiary”: (a) any
Subsidiary of the Borrower designated as a Non-Recourse Subsidiary on Schedule 4.15, (b) any Subsidiary of the Borrower created or acquired subsequent to the Restatement Effective Date that is designated as a Non-Recourse Subsidiary by the
Borrower or any of its Subsidiaries substantially concurrently with such creation or acquisition, (c) any Shell Subsidiary of the Borrower that, at any point following the Restatement Effective Date, no longer qualifies as a Shell Subsidiary
that is designated as a Non-Recourse Subsidiary by the Borrower or any of its Subsidiaries substantially concurrently with such failure to qualify as a Shell Subsidiary and (d) any Subsidiary of any such designated Subsidiary, provided, that
(i) at no time shall any creditor of any such Subsidiary have any claim (whether pursuant to a Guarantee Obligation or otherwise) against the Borrower or any of its other Subsidiaries (other than another Non-Recourse Subsidiary) in respect of
any Indebtedness or other obligation (except for obligations arising by operation of law, including joint and several liability for taxes, ERISA and similar items) of any such Subsidiary (other than in respect of a non-recourse pledge of Equity
Interests in such Subsidiary); (ii) neither the Borrower nor any of its Subsidiaries (other than another Non-Recourse Subsidiary) shall become a general partner of any such Subsidiary; (iii) no default with respect to any Indebtedness of
any such Subsidiary (including any right which the holders thereof may have to take enforcement action against any such Subsidiary), shall permit solely as a result of such Indebtedness being in default or accelerated (upon notice, lapse of time or
both) any holder of any Indebtedness of the Borrower or its other Subsidiaries (other than another Non-Recourse Subsidiary) to declare a default on such other Indebtedness or cause the payment thereof to be accelerated or payable prior to its final
scheduled maturity; (iv) no such Subsidiary shall own any Equity Interests of, or own or hold any Lien on any property of, the Borrower or any other Subsidiary of the Borrower (other than another
Non-Recourse Subsidiary); (v) no Investments may be made in any such Subsidiary by the Borrower or any of its Subsidiaries (other than by another Non-Recourse Subsidiary) except to the extent permitted
under Section 7.7(g), (h), (l) or (n); (vi) the Borrower shall not directly own any Equity Interests in such Subsidiary (other than an Escrow Borrower); (vii) at the time of such designation, no Default or Event of Default shall
have occurred and be continuing or would result therefrom; (viii) such Subsidiary is not a Loan Party; and (ix) such Subsidiary was not acquired pursuant to Section 7.7(f). It is understood that Non-Recourse Subsidiaries shall be
disregarded for the purposes of any calculation pursuant to this Agreement relating to financial matters with respect to the Borrower. 

“Non-Recourse
Subsidiary”: any Subsidiary of the Borrower that subsequent to the Amendment No. 1 Effective Date is designated in writing as a Non-Recourse Subsidiary by the Borrower pursuant to a certificate signed by a Responsible Officer of the
Borrower to the Administrative Agent (which certificate shall state that the conditions to designating such Subsidiary as a Non-Recourse Subsidiary set forth in this definition are satisfied) unless and until it has subsequently been designated in
writing as a “Subsidiary” by the Borrower pursuant to a certificate signed by a Responsible Officer of the Borrower to  

  
 -24- 

 
the Administrative Agent (which certificate shall state that the conditions to
designating such Non-Recourse Subsidiary as a “Subsidiary” set forth in this definition are satisfied). The Borrower may designate a Subsidiary as a Non-Recourse Subsidiary only if, after giving effect thereto, no Default or Event of
Default would occur and such Subsidiary does not own any Equity Interests of any other Subsidiary of the Borrower (other than another Non-Recourse Subsidiary). The designation of a Subsidiary as a Non-Recourse
Subsidiary shall be deemed to be an Investment by the Borrower in a Person that is not a Subsidiary in an amount equal to the fair market value of the Borrower’s and its Subsidiaries Investments in such Subsidiary at the time of such
designation. The Borrower may designate a Non-Recourse Subsidiary as a Subsidiary only if, after giving effect thereto, no Default or Event of Default would occur. The designation of a Non-Recourse Subsidiary as a Subsidiary shall be deemed to be a
return of Investment to the Borrower equal to the fair market value of the Non-Recourse Subsidiary so designated as Subsidiary at the time of such designation. It is understood that Non-Recourse Subsidiaries shall be disregarded for the purposes of
any calculation pursuant to this Agreement relating to financial matters with respect to the Borrower. 

“Non-U.S. Lender”: as defined in Section 2.17(d). 

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

“Notice of Borrowing”: an irrevocable notice of borrowing, substantially in the form of Exhibit E or such other form as may
be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the Borrower,
to be delivered in connection with each extension of credit hereunder. 
 “Obligations”: as defined in the Guarantee and
Collateral Agreement. 
 “Offered Loans”: as defined in Section 2.8(b)(iii) 

“Offered Prepayment Option Notice”: as defined in Section 2.8(b)(v). 

“Offered Range”: as defined in Section 2.8(b)(ii). 

“Offered Voluntary Prepayment”: as defined in Section 2.8(b)(i). 

“Offered Voluntary Prepayment Notice”: as defined in Section 2.8(b)(v). 

“Other Taxes”: any and all present or future stamp or documentary taxes or any other excise or property taxes, charges or
similar levies arising from any payment made hereunder or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any other Loan Document. 

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

“PBGC”: the Pension Benefit Guaranty Corporation established pursuant to Subtitle A of Title IV of ERISA (or any successor).

 “Permitted Debt Exchange”: as defined in Section 2.23(a). 

“Permitted Debt Exchange Notes”: as defined in Section 2.23(a). 

“Permitted Debt Exchange Offer”: as defined in Section 2.23(a). 

  
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 “Permitted Line of Business”: as defined in Section 7.14(a). 

“Permitted Securitization Financing”: any financing arrangement or factoring of Securitization Assets by the Borrower or any
Subsidiary or any securitization facility of any Securitization Subsidiary of the Borrower, in each case, the obligations of which are non-recourse (except for Standard Securitization Undertakings) to the Borrower or any Subsidiary (other than any
Securitization Subsidiary) in connection therewith. 
 “Permitted Tax Payment”: (i) income taxes, franchise taxes,
gross receipts taxes, withholding taxes and other similar taxes and governmental charges (including estimated installments thereof), in each case calculated with respect to the taxable income, assets, capital or other relevant characteristics of the
Qualified Parent Companies, the Borrower and its Subsidiaries, or any portion thereof (such taxable income, assets or other relevant characteristics, the “Tax Calculation Base”), (ii) any penalties, interest and additions to
tax with respect to amounts described in clause (i), and (iii) any obligation of the Borrower, any Subsidiary or any Qualified Parent Company to pay or distribute an amount determined by reference to the Tax Calculation Base or any amount
described in clause (ii), in each case as determined by the Borrower in good faith. 
 “Person”: an individual,
partnership, corporation, limited liability company, business trust, joint stock company, trust, unincorporated association, joint venture, Governmental Authority or other entity of whatever nature. 

“Plan”: at a particular time, any employee benefit plan that is covered by Title IV of ERISA and in respect of which a Loan
Party or a Commonly Controlled Entity is (or, if such plan were terminated at such time, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA. 

“Platform”: as defined in Section 6.1. 

“Pole Agreement”: any pole attachment agreement or underground conduit use agreement entered into in connection with the
operation of any CATV System. 
 “Pre-Existing Debt”: any Indebtedness issued by any Person that subsequently becomes a
Guarantor. 
 “Prime Rate”: the rate of interest per annum publicly announced from time to time by the Administrative Agent
as its prime rate in effect at its principal office in New York City (the Prime Rate not being intended to be the lowest rate of interest charged by the Administrative Agent in connection with extensions of credit to debtors). 

“Properties”: as defined in Section 4.17(a). 

“Proposed Offered Prepayment Amount”: as defined in Section 2.8(b)(ii). 

“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. 
 “QPC Indentures”: any indenture or other agreement governing Indebtedness of a Qualified
Parent Company outstanding on the Restatement Effective Date. 

  
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 “Qualified Counterparty” means each Person (other than the Borrower or any
of its Subsidiaries) that is party to a Specified Hedge Agreement described in clause (iii) of the definition thereof on the Restatement Effective Date and each such Person’s respective successors. 

“Qualified Indebtedness”: any Indebtedness or preferred Equity Interests of a Qualified Parent Company (a) which is not
held by any member of the CCI Group and (b) to the extent that the Net Cash Proceeds thereof, if any, are or were used for the (i) payment of interest of or principal or dividends or redemption of such Equity Interests (or premium) on any
Qualified Indebtedness (including (A) by way of a tender, redemption or prepayment of such Qualified Indebtedness and (B) amounts set aside to prefund any such payment), (ii) direct or indirect Investment in the Borrower or any of its
Subsidiaries engaged substantially in businesses of the type described in Section 7.14(a), (iii) payment of management fees (to the extent the Borrower would be permitted to pay such fees under Section 7.8(c)), (iv) payment of
amounts that would be permitted to be paid by way of a Restricted Payment under Section 7.6(g) (including the expenses of any exchange transaction) or (v) payment of amounts required to acquire assets all or substantially all of which were
contributed to the capital of the Borrower or any of its Subsidiaries for use in a Permitted Line of Business; provided that to the extent (A) any Indebtedness of a Qualified Parent Company is issued in exchange for or in payment of
interest or dividends on Qualified Indebtedness or (B) any assets are acquired in any acquisition by a Qualified Parent Company referred to in clause (v) are contributed to the capital of the Borrower or any Subsidiary, the “Net Cash
Proceeds” of such Indebtedness issued, or any Indebtedness assumed by such Qualified Parent Company in connection with such acquisition, shall be deemed to have been applied to pay the principal or interest or dividends on Qualified
Indebtedness or to acquire such assets for purposes of such requirement, as the case may be. For purposes of this definition, all Indebtedness of a Qualified Parent Company outstanding on the Restatement Effective Date shall be deemed to be
Qualified Indebtedness. 
 “Qualified Parent Company”: CCI or any of its direct or indirect Subsidiaries, in each case
provided that the Borrower shall be a direct or indirect Subsidiary of such Person. 
 “Qualifying Lenders”: as defined in
Section 2.8(b)(iv). 
 “Qualifying Loans”: as defined in Section 2.8(b)(iv). 

“Rating Agencies” means (1) each of Moody’s and S&P; and (2) if either of Moody’s or S&P ceases
to provide a rating or fails to make a rating of CCI publicly available for reasons outside of CCI’s control, a “nationally recognized statistical rating organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the
Exchange Act, as amended, selected by CCI (as certified by a resolution of CCI’s Board of Directors) as a replacement agency for Moody’s or S&P, or both, as the case may be, that is reasonably acceptable to the Administrative Agent.

 “Ratings Decline Period” means the period that (i) begins on the earlier of (a) the date of the first public
announcement of the occurrence of a transaction that, if consummated, would constitute a Change of Control and (b) the occurrence of such Change of Control and (ii) ends 90 days following consummation of such Change of Control;
provided that such period shall be extended for so long as the rating of the Ratings Entity, as noted by the applicable Rating Agency, is under publicly announced consideration for downgrade by the applicable Rating Agency. 

“Ratings Entity” means (i) for so long as CCI (or the other relevant entity to which the “corporate family
rating” (or equivalent term) applicable to the Borrower has been assigned) directly or indirectly owns a majority of the common Equity Interests of the Borrower and has not publicly announced a specific transaction pursuant to which CCI (or
such other entity specified above) would cease to own a majority of the common Equity Interests of the Borrower, CCI (or such other entity specified above) and 

  
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(ii) at any time that clause (i) does not apply, any Person whose “corporate family rating” (or equivalent term) is (or following the consummation of a transaction described in
clause (i), will be) determined based expressly in whole or part on the fact that the Borrower is part of such Person’s “corporate family rating” (or equivalent term). 

“Ratings Event”means any of the following: 

(i) (x) (A) in the event that the Ratings Entity is the same both before and after the commencement of the applicable
Ratings Decline Period, a downgrade by one or more gradations (including gradations within ratings categories as well as between rating categories) or withdrawal of the “corporate family rating” (or equivalent term) of the Ratings Entity
within the Ratings Decline Period by one or more Rating Agencies (unless the applicable Rating Agency shall have put forth a written statement to the effect that such downgrade is not attributable in whole or in part to the applicable Change of
Control) or (B) in the event that the Ratings Entity immediately after the commencement of the applicable Ratings Decline Period is a Person other than the Ratings Entity immediately prior to the commencement of such Ratings Decline Period,
such Ratings Entity has a “corporate family rating” (or equivalent term) lower than the “corporate family rating” (or equivalent term) of the Ratings Entity immediately prior to the commencement of such Ratings Decline Period and
(y) following any such downgrade, the Ratings Entity does not have a “corporate family rating” (or equivalent term) that is an Investment Grade Rating from either Rating Agency; or 

(ii) the Ratings Entity does not have a “corporate family rating” (or equivalent term) of at least B1 from
Moody’s and at least B+ from S&P (or the equivalent ratings in the case of any other Rating Agency), in each case, with a stable or positive outlook, at the time of the applicable Change of Control or at any time thereafter until the
termination of the applicable Ratings Decline Period; or 
 (iii) the Ratings Entity does not have a “corporate family
rating” (or equivalent rating) from at least two Ratings Agencies at the time of the applicable Change of Control or at any time thereafter until the termination of the applicable Ratings Decline Period. 

“Recovery Event”: any settlement of or payment, or series of related settlements or payments, in respect of any property or
casualty insurance claim or any condemnation proceeding relating to any asset of the Borrower or any of its Subsidiaries that yields gross cash proceeds to the Borrower or any of its Subsidiaries in excess of $100,000,000. 

“Refinancing First Lien Notes”: any First Lien Notes which have been designated in writing by the Borrower to the
Administrative Agent prior to the issuance thereof as “Refinancing First Lien Notes.” 
 “Refinancing Term Loan”:
any Incremental Term Loan that is designated as a “Refinancing Term Loan” pursuant to the applicable Incremental Activation Notice. 

“Refunded Swingline Loans”: as defined in Section 2.5(b). 

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

“Regulated Subsidiary”: any Subsidiary that is prohibited, in connection with telephony licenses issued to it, from becoming
a Loan Party by reason of the requirement of consent from any Governmental Authority, but only for so long as such consent has not been obtained; provided, that, until such Subsidiary becomes a Loan Party and all of the Equity Interests of
such Subsidiary owned by any Loan 

  
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Party is pledged as Collateral, (a) such Subsidiary owns no assets other than (i) governmental licenses to operate a telephony business and leases of infrastructure necessary to operate
such licenses and (ii) other assets (held either directly or through any Subsidiary or other Equity Interests) with an aggregate value not exceeding $250,000 and (b) the Borrower shall not directly own any Equity Interests in such
Subsidiary unless all such Equity Interests have been pledged as Collateral. 
 “Regulation U”: Regulation U of the Board
as in effect from time to time. 
 “Reimbursement Obligation”: the obligation of the Borrower to reimburse the relevant
Issuing Lender pursuant to Section 3.5 for amounts drawn under Letters of Credit. 
 “Reinvestment Deadline”: as
defined in the definition of “Reinvestment Proceeds”. 
 “Reinvestment Deferred Amount”: as of any date of
determination, with respect to any Reinvestment Proceeds, the portion thereof that are not applied to prepay the Term Loans pursuant to Section 2.9(a), as such amount may be reduced from time to time by application of such Reinvestment Proceeds
to acquire assets useful in the Borrower’s business. 
 “Reinvestment Prepayment Amount”: with respect to any
Reinvestment Proceeds, the Reinvestment Deferred Amount relating thereto then outstanding on the Reinvestment Prepayment Date. 

“Reinvestment Prepayment Date”: with respect to any Reinvestment Proceeds, the earliest of (a) the relevant Reinvestment
Deadline, (b) the date on which the Borrower shall have determined not to, or shall have otherwise ceased to, acquire assets useful in the Borrower’s business with all or any portion of the relevant Reinvestment Deferred Amount, and
(c) the date on which an Event of Default under Section 8.1(a) or 8.1(g) occurs. 
 “Reinvestment Proceeds”: with
respect to any Allocated Proceeds received when no Event of Default has occurred and is continuing, the portion thereof which the Borrower (directly or indirectly through a Subsidiary) intends and expects to use to acquire assets useful in its
business, on or prior to the earlier of (a) the date that is eighteen months from the date of receipt of such Allocated Proceeds and (b) the Business Day immediately preceding the date on which such proceeds would be required to be
applied, or to be offered to be applied, to prepay, redeem or defease any Indebtedness of the Borrower or any of its Affiliates (other than Indebtedness under this Agreement) if not applied as described above (such earlier date, the
“Reinvestment Deadline”), provided that such use will not require purchases, repurchases, redemptions or prepayments (or offers to make purchases, repurchases, redemptions or prepayments) of any other Indebtedness of the
Borrower or any of its Affiliates. 
 “Related Parties” means, with respect to any Person, such Person’s Affiliates
and the partners, directors, officers, employees, agents, trustees and advisors of such Person and of such Person’s Affiliates. 

“Release”: an authorization of release of specified Collateral, substantially in the form of Exhibit F. 

“Reorganization”: with respect to any Multiemployer Plan, the condition that such plan is in reorganization within the
meaning of Section 4241 of ERISA. 
 “Replacement Term Loan”: any term loan borrowed following the Restatement
Effective Date pursuant to Section 2.1(j). 

  
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 “Replacement Term Maturity Date”: with respect to the Replacement Term
Loans to be made pursuant to any Incremental Activation Notice, the final maturity date specified in such Incremental Activation Notice. 

“Reportable Event”: any of the events set forth in Section 4043(c) of ERISA, other than those events as to which the
thirty day notice period is waived under subsections.27,.28,.29,.30,.31,.32,.34 or.35 of PBGC Reg. § 4043. 
 “Repricing
Transaction”: (a) except in connection with a transaction constituting a Change of Control or Material Acquisition, the incurrence by the Borrower of any term loans (including, without limitation, any new or additional term loans under
this Agreement) having an Effective Yield that is less than the Effective Yield for the Term B Loans, the proceeds of which are used to prepay (or, in the case of a conversion, deemed to prepay or replace), in whole or in part, outstanding principal
of Term B Loans or (b) any effective reduction in the Effective Yield for the Term B Loans by way of amendment of this Agreement. 

“Required Lenders”: at any time, the holders of more than 50% of the sum of (a) the aggregate unpaid principal amount of
the Term Loans then outstanding and (b) the Total Revolving Commitments then in effect or, if the Total Revolving Commitments shall have expired or been terminated, the Total Revolving Extensions of Credit then outstanding. 

“Requirement of Law”: as to any Person, the Certificate of Incorporation and By-Laws or other organizational or governing
documents of such Person, and any law, treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or
any of its property is subject. 
 “Responsible Officer”: the chief executive officer, president or chief financial officer
of the Borrower, but in any event, with respect to financial matters, any of the chief financial officer, principal accounting officer, senior vice president – strategic planning, vice president – finance and corporate treasurer or any
other financial officer of the Borrower or any other officer or employee of the applicable Loan Party designated in or pursuant to an agreement between the applicable Loan Party and the Administrative Agent. 

“Restatement Agreement”: the Restatement Agreement, dated as of December 21, 2017, by and among the Loan Parties, the
Administrative Agent and the other parties thereto. 
 “Restatement Consenting Lender”: each Lender that has returned an
executed counterpart to the Restatement Agreement to the Administrative Agent prior to the Restatement Effective Date. 

“Restatement Effective Date”: as defined in the Restatement Agreement. 

“Restricted Payments”: as defined in Section 7.6. 

“Revolving A
Commitment”: as to any Revolving Lender, the obligation of such Lender to make Revolving Loans and participate in Swingline Loans and Letters of Credit in an aggregate principal and/or face
amount not to exceed, as applicable, (a) the amount set forth opposite such Lender’s name under the heading
“Revolving A Commitment” on Schedule 1 to the Restatement Agreement or (b) the amount set forth in any Assignment and Assumption to which such Lender is a party as an AssigneeAmendment No. 1, in each case as the same may be changed from time to time pursuant
to the terms hereof (including as a result of any Assignment and Assumption to which such Lender is a party or the establishment of any Extended Revolving Commitments). The aggregate amount of the
Revolving A Commitments on the Amendment No. 1 Effective Date is $248,500,000. 

  
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“Revolving B
Commitment”: as to any Revolving Lender, the obligation of such Lender to make Revolving Loans and participate in Swingline Loans and Letters of Credit in an aggregate principal and/or face amount not to exceed the amount set forth opposite
such Lender’s name under the heading “Revolving B Commitment” on Schedule 1 to Amendment No. 1, in each case as the same may be changed from time to time pursuant to the terms hereof (including as a result of any Assignment and
Assumption to which such Lender is a party or the establishment of any Extended Revolving Commitments). The aggregate amount of the Revolving B Commitments on the Amendment No. 1 Effective Date is $4,501,500,000. 

“Revolving
Commitment”: as to any Revolving Lender, such Lender’s Revolving A Commitment, Revolving B Commitment and/or Extended Revolving Commitment, as applicable in each case as the same may be changed from time to time pursuant to the terms
hereof (including as a result of any Assignment and Assumption to which such Lender is a party or the establishment of any Extended Revolving Commitments). 

“Revolving Commitment Cap”: the greater of
(x) $4,000750,000,000 and (y) 0.5x Annualized Operating Cash Flow calculated in the manner contemplated by Section 1.2(f) as if any Material Acquisition or Material Disposition made prior to or concurrently with the
incurrence of such Indebtedness was incurred on the first day of the applicable Test Period for the most recent fiscal quarter for which financial statements have been delivered pursuant to Section 6.1(a) or (b); provided that to the
extent any Revolving Commitment was permitted by clause (y) at the time it was incurred, it shall be deemed to be permitted at all times thereafter regardless of any subsequent decrease in Annualized Operating Cash Flow. 

“Revolving Commitment Period”: with respect to any Revolving Commitment, the period ending on the Revolving Termination Date
for such Revolving Commitment. 
 “Revolving Extensions of Credit”: as to any Revolving Lender at any time, an amount equal
to the sum of (a) the aggregate principal amount of all Revolving Loans held by such Lender then outstanding, (b) such Lender’s Revolving Percentage of the L/C Obligations in respect of each Letter of Credit then outstanding and
(c) such Lender’s Revolving Percentage of the aggregate principal amount of Swingline Loans then outstanding. 

“Revolving Facility”: the Revolving Commitments and the Revolving Extensions of Credit. 

“Revolving Lender”: each Lender that has a Revolving Commitment or that holds Revolving Loans or is an Issuing Lender or
Swingline Lender. 
 “Revolving Loans”: as defined in Section 2.1(f). 

“Revolving Percentage”: as to any Revolving Lender at any time, the percentage which such Lender’s Revolving Commitment
then constitutes of the Total Revolving Commitments (or, at any time after the Total Revolving Commitments shall have expired or terminated, the percentage which the aggregate outstanding amount of such Lender’s Revolving Extensions of Credit
then outstanding constitutes of the aggregate outstanding amount of the Revolving Extensions of Credit then outstanding). In addition to adjustments pursuant to assignments, the Revolving Percentages of the Revolving Lenders shall be subject to
adjustment (i) on each Revolving Termination Date, (ii) with respect to participations in Letters of Credit and Swingline Loans, as contemplated by Section 2.21, (iii) on each date on which

  
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Extended Revolving Commitments are established; provided that if any Letter of Credit (a “Later Expiring Letter of Credit”) is at any time issued and outstanding with an
expiration date that is after any Revolving Termination Date for any then outstanding Revolving Commitment, then the Revolving Percentage of each Revolving Lender for purposes of calculating its Revolving Percentage of any L/C Obligations in respect
of each Later Expiring Letter of Credit shall be recomputed by assuming that each Revolving Commitment with a Revolving Termination Date that is on or prior to the expiration date of such Later Expiring Letter of Credit had been terminated. 

“Revolving Termination Date”: (i) with respect to any Revolving
A Commitment in effect on the RestatementAmendment No. 1 Effective Date, March 31, 2023
and, (ii) with respect to any Revolving B Commitment in effect on the Amendment No. 1 Effective Date, March 29, 2024 and (iii) with respect to any
Extended Revolving Commitment established following the RestatementAmendment No. 1 Effective Date, the date specified as such in the applicable
Incremental Activation Notice. 
 “Scheduled Unavailability Notice”: as defined in Section 2.13. 

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

“Secured Parties”: as defined in the Guarantee and Collateral Agreement. 

“Securities Act” means the Securities Act of 1933. 

“Securitization”: 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. 

“Securitization Assets” means accounts receivable, loans, mortgages, royalties, other rights to payment, supporting
obligations therefor, proceeds therefrom and other related assets customarily disposed of or pledged in connection with non-recourse receivables financings or factorings or securitization facilities (as determined in good faith by the Borrower).

 “Securitization Subsidiary” means any Subsidiary formed by the Borrower or any of its other Subsidiaries solely for
purposes of consummating any Permitted Securitization Financing and which holds no material assets other than Securitization Assets and which is engaged in no material activities other than those related to such Permitted Securitization Financing.

 “Series”: Incremental Term Loans, Extended Term Loans and/or Replacement Term Loans, as applicable, that are established
pursuant to a single Incremental Activation Notice and provide for the same terms unless such Incremental Activation Notice provides that such Incremental Term Loans, Extended Term Loans and/or Replacement Term Loans shall be a part of a previously
established Class of Term Loans. 
 “Shell Subsidiary”: any Subsidiary of the Borrower that is a “shell” company
having (a) assets (either directly or through any Subsidiary or other Equity Interests) with an aggregate value not exceeding $100,000 and (b) no operations. 

“Single Employer Plan”: any Plan that is covered by Title IV of ERISA, but that is not a Multiemployer Plan. 

  
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 “Solvent”: when used with respect to any Person, means that, as of any date
of determination, (a) the amount of the “present fair saleable value” of the assets of such Person will, as of such date, exceed the amount of all “liabilities of such Person, contingent or otherwise”, as of such date, as
such quoted terms are determined in accordance with applicable federal and state laws governing determinations of the insolvency of debtors, (b) the present fair saleable value of the assets of such Person will, as of such date, be greater than
the amount that will be required to pay the liability of such Person on its debts as such debts become absolute and matured, (c) such Person will not have, as of such date, an unreasonably small amount of capital with which to conduct its
business, and (d) such Person will be able to pay its debts as they mature. For purposes of this definition, (i) “debt” means liability on a “claim”, and (ii) “claim” means any (x) right to payment,
whether or not such a right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured or (y) right to an equitable remedy for breach of performance if
such breach gives rise to a right to payment, whether or not such right to an equitable remedy is reduced to judgment, fixed or contingent, matured or unmatured, disputed or undisputed, or secured or unsecured. 

“Specified Cash Management Agreement”: any agreement providing for treasury, depositary or cash management services,
including in connection with any automated clearing house transfers of funds and commercial card exposure, or any similar transactions between the Borrower or any of its Subsidiaries and any Lender or Affiliate thereof (or any Person that was a
Lender or an Affiliate of a Lender at the time any such agreement was entered into). 
 “Specified Excluded Subsidiary”:
(i) any Foreign Subsidiary, (ii) any Shell Subsidiary, (iii) any Excluded Acquired Subsidiary, (iv) any Regulated Subsidiary and any Subsidiary that is prohibited by any applicable requirement of law, rule or regulation of any
Governmental Authority from becoming a Guarantor or would require governmental (including regulatory) consent, approval, license or authorization to become a Guarantor unless such consent, approval, license or authorization has been received,
(v) any Subsidiary that is not a Wholly Owned Subsidiary, (vi) any Subsidiary acquired on or after the Restatement Effective Date that is prohibited from becoming a Guarantor by any contract existing on the date such Subsidiary became a
Subsidiary to the extent such contract was not created in contemplation thereof, (vii) any Subsidiary that is regulated as an insurance company, (viii) any not-for-profit subsidiary and (ix) any Securitization Subsidiary. 

“Specified Hedge Agreement”: any Hedge Agreement (i) entered into by the Borrower or any of its Subsidiaries with any
Person that is a Lender or an Affiliate of a Lender at the time such Hedge Agreement is entered into and (ii) in the case of Hedge Agreements outstanding on the date hereof, any such Hedge Agreement that was a “Specified Hedge
Agreement” as defined in the Existing Credit Agreement. 
 “Specified Long-Term Indebtedness”: any Indebtedness of the
Borrower incurred pursuant to Section 7.2(e). 
 “Specified Revolving Maturity Date”: as defined in
Section 3.4(d). 
 “Specified Subordinated Debt”: any Indebtedness of the Borrower issued directly or indirectly to
any Qualified Parent Company, so long as such Indebtedness (a) qualifies as Specified Long-Term Indebtedness and (b) has terms and conditions substantially identical to those set forth in Exhibit D. 

“Standard Securitization Undertakings” means representations, warranties, covenants (including repurchase obligations) and
indemnities entered into by the Borrower or any Subsidiary of the Borrower that the Borrower has determined in good faith are customary for “non-recourse” accounts receivables financings or factoring or securitization financings. 

  
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 “Subsidiary”: as to any Person, a corporation, partnership, limited
liability company or other entity of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a
majority of the board of directors or other managers of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly, through one or more intermediaries, or both, by
such Person; provided, that Non-Recourse Subsidiaries shall be deemed not to constitute “Subsidiaries” for the purposes of this Agreement (other than the definition of “Non-Recourse Subsidiary”). Unless otherwise
qualified, all references to a “Subsidiary” or to “Subsidiaries” in this Agreement shall refer to a Subsidiary or Subsidiaries of the Borrower. 

“Subsidiary Guarantor”: each Subsidiary of the Borrower other than any Specified Excluded Subsidiary or, at the option of the Borrower, any De Minimis Subsidiary, in each case to the
extent that such Person has become a “Grantor” under the Guarantee and Collateral Agreement. 
 “Swingline
Commitment”: the obligation of the Swingline Lender to make Swingline Loans pursuant to Section 2.4 in an aggregate principal amount at any one time outstanding not to exceed $300,000,000. 

“Swingline Lender”: the Administrative Agent, in its capacity as the lender of Swingline Loans. 

“Swingline Loans”: as defined in Section 2.4. 

“Swingline Participation Amount”: as defined in Section 2.5(c). 

“Syndication Agents”: the entities identified as such on the cover of this Agreement. 

“Term A-1 Loan”: each Term A-1 Loan outstanding under the Existing Credit Agreement immediately prior to the Restatement
Effective Date. 
 “Term A-2 Commitment”: with respect to each Lender, the commitment of such Lender to make a Term A-2
Loan on the Restatement Effective Date in an aggregate principal amount set forth opposite such Lender’s name on Schedule I to the Restatement Agreement. 

“Term A-3
Commitment”: with respect to each Lender, the commitment of such Lender to make a Term A-3 Loan on the Amendment No. 1 Effective Date in an aggregate principal amount set forth opposite such Lender’s name on Schedule I to Amendment
No. 1. 
 “Term A-2 Loan” as defined in Section 2.1(a).

 “Term A-3
Loan” as defined in Section 2.1(b). 
 “Term A-2 Maturity
Date”: March 31, 2023. 

“Term A-3 Maturity
Date”: March 29, 2024.  
 “Term B Loan” as defined
in Section 2.1(d). 
 “Term B Maturity Date”: April 30, 2025. 

  
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 “Term E-1 Loan”: each Term E-1 Loan outstanding under the Existing Credit
Agreement immediately prior to the Restatement Effective Date. 
 “Term F-1 Loan”: each Term F-1 Loan outstanding under the
Existing Credit Agreement immediately prior to the Restatement Effective Date. 
 “Term H-1 Loan”: each Term H-1 Loan
outstanding under the Existing Credit Agreement immediately prior to the Restatement Effective Date. 
 “Term I-1 Loan”:
each Term I-1 Loan outstanding under the Existing Credit Agreement immediately prior to the Restatement Effective Date. 
 “Term
Lender”: any Lender that holds a Term Loan. 
 “Term Loan”: any Term A-1 Loan, Term A-2 Loan, Term A-3 Loan, Term B Loan, Term E-1 Loan, Term F-1 Loan, Term H-1 Loan, Term I-1
Loan, Extended Term Loan, Replacement Term Loan or Incremental Term Loan; provided that no Escrow Incremental Term Loan shall be deemed to be a Term Loan outstanding hereunder until the Escrow Assumption with respect thereto shall have
occurred. 
 “Term Maturity Date”: with respect to (i) the Term A-2 Loans, the Term A-2 Maturity Date,
(ii) the Term A-3 Loans, the Term A-3 Maturity Date, (iii) the Term B
Loans, the Term B Maturity Date,
(iiiiv) the Incremental Term Loans of any other Series, the Incremental Term Maturity Date for such Series, (ivv) the Extended Term Loans of any Series, the Extended Term Maturity Date for such
Series and (vvi) the Replacement Term Loans of any Series, the Replacement Term Maturity Date for such Series. 

“Test Date”: as defined in Section 7.7(j). 

“Total Assets”: the total assets of the Borrower and its Subsidiaries on a consolidated basis in accordance with GAAP, as
shown on the most recent balance sheet of the Borrower delivered pursuant to Section 6.1(a) or (b). 
 “Total Net
Proceeds”: in connection with any Asset Sale or any Recovery Event, the sum, without duplication, of (a) the proceeds thereof in the form of cash and Cash Equivalents and (b) the amount of any deferred payment of principal
pursuant to a note or installment receivable or purchase price adjustment receivable or otherwise (whether or not received at the time “Total Net Proceeds” is calculated in connection with such Asset Sale or Recovery Event), net of
attorneys’ fees, accountants’ fees, investment banking fees and consultants’ fees (in each case, including costs and disbursements), amounts required to be applied to the repayment of Indebtedness secured by a Lien expressly permitted
hereunder on any asset that is the subject of such Asset Sale or Recovery Event (other than any Lien pursuant to the Guarantee and Collateral Agreement or Liens that are subject to a First Lien Intercreditor Agreement or a Junior Lien Intercreditor
Agreement) and other customary fees and expenses actually incurred in connection therewith and net of taxes paid or reasonably estimated to be payable as a result thereof (after taking into account any available tax credits or deductions and any tax
sharing arrangements). 
 “Total Revolving Commitments”: at any time, the aggregate amount of the Revolving Commitments
then in effect. 
 “Total Revolving Extensions of Credit”: at any time, the aggregate amount of the Revolving Extensions of
Credit outstanding at such time. 

  
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 “Transferee”: any Assignee or Participant. 

“Type”: as to any Loan, its nature as an ABR Loan or a Eurodollar Loan. 

“United States”: the United States of America. 

“Weighted Average Life to Maturity” when applied to any Indebtedness at any date, the number of years obtained by dividing
(1) the sum of the products obtained by multiplying (a) the amount of each then remaining installment, sinking fund, serial maturity or other required payment of principal, including payment at final maturity, in respect thereof by
(b) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment by (2) the then outstanding principal amount of such Indebtedness. 

“Wholly Owned Subsidiary”: as to any Person, any other Person all of the Equity Interests of which (other than
directors’ qualifying shares required by law) are owned by such Person directly or through other Wholly Owned Subsidiaries or a combination thereof. 

“Wholly Owned Subsidiary Guarantor”: any Subsidiary Guarantor that is a Wholly Owned Subsidiary of the Borrower. 

“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.” 

1.2. Other Definitional Provisions; Pro Forma Calculations. 

(a) Unless otherwise specified therein, all terms defined in this Agreement shall have the defined meanings when used in the other Loan
Documents or any certificate or other document made or delivered pursuant hereto or thereto. 
 (b) As used herein and in the other Loan
Documents, and any certificate or other document made or delivered pursuant hereto or thereto, (i) accounting terms relating to Holdings, the Borrower and its Subsidiaries not defined in Section 1.1 and accounting terms partly defined in
Section 1.1, to the extent not defined, shall have the respective meanings given to them under GAAP, (ii) the words “include”, “includes” and “including” shall be deemed to be followed by the phrase
“without limitation”, (iii) the word “incur” shall be construed to mean incur, create, issue, assume, become liable in respect of or suffer to exist (and the words “incurred” and “incurrence” shall have
correlative meanings), (iv) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, Equity Interests,
securities, revenues, accounts, leasehold interests, contract rights and any other “assets” as such term is defined under GAAP and (v) references to agreements or other Contractual Obligations shall, unless otherwise specified, be
deemed to refer to such agreements or Contractual Obligations as amended, supplemented, restated or otherwise modified from time to time. 

(c) Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of
Credit in effect at such time; provided, however, that with respect to any Letter of Credit that, by its terms or the terms of the Application or an amendment related thereto, provides for one or more automatic increases in the stated
amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time. 

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

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

(f) For the purposes of calculating Annualized Operating Cash Flow, Annualized Pro Forma Operating Cash Flow and Consolidated Operating Cash
Flow for any period (a “Test Period”), (i) if at any time during the period (a “Pro Forma Period”) commencing on the second day of such Test Period and ending on the last day of such Test Period (or, in the
case of any pro forma calculation made pursuant hereto in respect of a particular transaction, ending on the date such transaction is consummated and, unless otherwise expressly provided herein, after giving effect thereto), the Borrower or any
Subsidiary shall have made any Material Disposition, the Consolidated Operating Cash Flow for such Test Period shall be reduced by an amount equal to the Consolidated Operating Cash Flow (if positive) attributable to the property which is the
subject of such Material Disposition for such Test Period or increased by an amount equal to the Consolidated Operating Cash Flow (if negative) attributable thereto for such Test Period; (ii) if, during such Pro Forma Period, the Borrower or
any Subsidiary shall have made a Material Acquisition, the Consolidated Operating Cash Flow for such Test Period shall be calculated after giving pro forma effect thereto (including the incurrence or assumption of any Indebtedness in
connection therewith) as if such Material Acquisition (and the incurrence or assumption of any such Indebtedness) occurred on the first day of such Test Period; and (iii) if, during such Pro Forma Period, any Person that subsequently became a
Subsidiary or was merged with or into the Borrower or any Subsidiary during such Pro Forma Period shall have entered into any disposition or acquisition transaction that would have required an adjustment pursuant to clause (i) or
(ii) above if made by the Borrower or a Subsidiary during such Pro Forma Period and Consolidated Operating Cash Flow for such Test Period shall be calculated after giving pro forma effect thereto as if such transaction occurred on
the first day of such Test Period. For the purposes of this paragraph, pro forma calculations regarding the amount of income or earnings relating to any Material Disposition or Material Acquisition shall in each case be determined in
good faith by a Responsible Officer of the Borrower. As used in this Section 1.2(f), “Material Acquisition” means any acquisition of property or series of related acquisitions of property that (i) constitutes assets comprising
all or substantially all of an operating unit of a business or constitutes all or substantially all of the Equity Interests of a Person and (ii) involves the payment of Consideration by the Borrower and its Subsidiaries in excess of
$50,000,000; and “Material Disposition” means any Disposition of property or series of related Dispositions of property that yields gross proceeds to the Borrower or any of its Subsidiaries in excess of $50,000,000. 

(g) For avoidance of doubt, in order to determine pursuant to any provision of Section 7 that no Default or Event of Default results from
a particular transaction, pro forma compliance with Section 7.1 shall be required. 
 (h) All Loans, Letters of Credit and
accrued and unpaid amounts (including interest and fees) owing by the Borrower to any Person under the Existing Credit Agreement that have not been paid to such Persons on or prior to the Restatement Effective Date shall continue as Loans, Letters
of Credit and accrued and unpaid amounts hereunder on the Restatement Effective Date and shall be payable on the dates such amounts would have been payable pursuant to the Existing Credit Agreement, and from and after the Restatement Effective Date,
interest, fees and other amounts shall accrue as provided under this Agreement. 

  
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 (i)
[Reserved]. 

(i) Any reference herein to a
merger, transfer, consolidation, amalgamation, consolidation, assignment, sale, disposition or transfer, or similar term, shall be deemed to apply to a division of or by a limited liability company, or an allocation of assets to a series of a
limited liability company (or the unwinding of such a division or allocation), as if it were a merger, transfer, consolidation, amalgamation, consolidation, assignment, sale, disposition or transfer, or similar term, as applicable, to, of or with a
separate Person. Any division of a limited liability company shall constitute a separate Person hereunder (and each division of any limited liability company that is a Subsidiary, joint venture or any other like term shall also constitute such a
Person or entity). 
 (j) Notwithstanding anything in this Agreement or any Loan
Document to the contrary, when calculating any applicable ratio or determining other compliance with this Agreement (including the determination of compliance with any provision of this Agreement which requires that no Default or Event of Default
has occurred, is continuing or would result therefrom) in connection with the incurrence of any Indebtedness or Liens (including the granting of equal and ratable security with the Obligations) or the making of any Investments, Restricted Payments,
or Dispositions in connection with the consummation of a Limited Condition Acquisition, the date of determination of such ratio and determination of whether any default or event of default has occurred, is continuing or would result therefrom or
other applicable covenant shall, at the option of the Borrower (the Borrower’s election to exercise such option in connection with any Limited Condition Acquisition, an “LCA Election”), be deemed to be the date the definitive
agreements for such Limited Condition Acquisition are entered into (the “LCA Test Date”) and if, after such ratios and other provisions are measured on a pro forma basis after giving effect to such Limited Condition
Acquisition and the other transactions to be entered into in connection therewith as if they occurred at the beginning of the applicable Test Period ending prior to the LCA Test Date, the Borrower could have taken such action on the relevant LCA
Test Date in compliance with such ratios and provisions, such provisions shall be deemed to have been complied with. For the avoidance of doubt, (x) if any of such ratios are exceeded as a result of fluctuations in such ratio (including due to
fluctuations in Annualized Operating Cash Flow of the Borrower) at or prior to the consummation of the relevant Limited Condition Acquisition, such ratios and other provisions will not be deemed to have been exceeded as a result of such fluctuations
solely for purposes of determining whether the Limited Condition Acquisition is permitted hereunder and (y) such ratios and other provisions shall not be tested at the time of consummation of such Limited Condition Acquisition or related
transactions. If the Borrower has made an LCA Election for any Limited Condition Acquisition, then in connection with any subsequent calculation of any ratio (excluding, for the avoidance of doubt, any ratio contained in Section 7.1) or basket
availability with respect to any other incurrence of Indebtedness or Liens or the making of any Investments, Restricted Payments, or Dispositions on or following the relevant LCA Test Date and prior to the earlier of the date on which such Limited
Condition Acquisition is consummated or the date that the definitive agreement for such Limited Condition Transaction is terminated or expires without consummation of such Limited Condition Acquisition, any such ratio or basket shall be calculated
on a pro forma basis assuming such Limited Condition Acquisition and other transactions in connection therewith have been consummated until such time as such Limited Condition Acquisition is consummated or the Borrower gives the
Administrative Agent notice that such Limited Condition Acquisition will not be consummated. 

  
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 SECTION 2 AMOUNT AND TERMS OF COMMITMENTS 

2.1. Loans and Commitments. 

(a) Subject to the terms and conditions hereof, each Lender with a Term A-2 Commitment agrees to make to the Borrower a loan in Dollars (each a
“Term A-2 Loan”) on the Restatement Effective Date in an amount equal to its Term A-2 Commitment; provided that each Lender with a Term A-2 Commitment and an existing Term A-1 Loan on the Restatement Effective Date shall
apply an amount of the proceeds of its Term A-2 Loan to repay at par a like aggregate principal amount of such Term A-1 Loan of such Lender (but not any accrued interest thereon) on the Restatement Effective Date prior to making any proceeds of its
Term A-2 Loans available to the Administrative Agent for the account of the Borrower as provided in Section 2.02 below. The Term A-2 Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the
Administrative Agent in accordance with Sections 2.2 and 2.10. 
 (b)
[Reserved]. 

(b) Subject to the terms and
conditions hereof, (i) each Lender with a Term A-3 Commitment agrees to make to the Borrower a loan in Dollars (each a “Term A-3 Loan”) on the Amendment No. 1 Effective Date in an amount equal to its Term A-3 Commitment and
(ii) the Term A-2 Loan of each Converting Term A-2 Lender shall be automatically converted to a Term A-3 Loan of such Lender to the Borrower in an amount equal to the principal amount of such Lender’s Term A-2 Loan immediately prior to the
Amendment No. 1 Effective Date. The Term A-3 Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.10. 
 (c) [Reserved]. 

(d) Subject to the terms and conditions hereof, (i) the Additional Term B Lender agrees to make a loan in Dollars (a “Term B
Loan”; which term shall include each loan converted from a Converted Term Loan pursuant to subclause (ii) below) on the Restatement Effective Date in an amount equal to the Additional Term B Commitment and (ii) each Converted Term
Loan of each Lender shall be converted into a Term B Loan of such Lender in the same principal amount as such Converted Term Loan on the Restatement Effective Date. The Term B Loans may from time to time be Eurodollar Loans or ABR Loans, as
determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.10. 
 (e) [Reserved]. 

(f) Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans in Dollars
(“Revolving Loans”) to the Borrower from time to time during the Revolving Commitment Period with respect to such Lender’s Revolving Commitment in an aggregate principal amount at any one time outstanding which, when added to
such Lender’s Revolving Percentage of the sum of (i) the L/C Obligations then outstanding with respect to each Letter of Credit and (ii) the aggregate principal amount of the Swingline Loans then outstanding, does not exceed the
amount of such Lender’s Revolving Commitment. During the Revolving Commitment Period for any Revolving Commitment, the Borrower may use such Revolving Commitment by borrowing, prepaying the Revolving Loans in whole or in part, and reborrowing,
all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.10. On the Amendment No. 1 Effective Date, each Revolving Lender shall purchase at par from and/or sell at par to each of the other
Revolving Lenders such portions of the outstanding Revolving Loans, if any, as may be specified by the Administrative Agent so that, immediately following such purchases, all Eurodollar Tranches of Revolving Loans and all ABR Loans that are Revolving Loans shall be held by the Revolving Lenders on a pro rata basis in
accordance with their respective Revolving Percentages.  
  

  
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 (g) Following the Restatement Effective Date, the Borrower (or, in the case of Escrow
Incremental Term Loans, the Escrow Borrower) and any one or more Lenders (including Persons that become Lenders in connection therewith) may from time to time agree that such Lenders shall make Incremental Term Loans by executing and delivering to
the Administrative Agent an Incremental Activation Notice specifying (i) the amount of such Incremental Term Loans, (ii) the applicable Incremental Closing Date, (iii) the applicable Incremental Term Maturity Date (which shall not be
earlier than the Term B Maturity Date; provided that Incremental Term Loans shall not be required to comply with this clause (iii) or clause (iv) below so long as (x) such Incremental Term Loans have an Incremental Term Maturity Date
that is no earlier than the Term A-23 Maturity Date and a Weighted Average Life to Maturity that is no shorter than the then remaining Weighted Average Life to Maturity of the Term
A-23 Loans and (y) the aggregate principal amount of such Incremental Term Loans outstanding at any time does not exceed 2.0x Annualized Operating Cash Flow, calculated in the manner contemplated by
Section 1.2(f) as if any Investment pursuant to which such Indebtedness was incurred occurred on the first day of the applicable Test Period, for the most recent fiscal quarter for which financial statements have been delivered pursuant to
Section 6.1(a) or (b) prior to the incurrence of such Incremental Term Loans, (iv) the amortization schedule for such Incremental Term Loans; provided that, except as permitted by the proviso to clause (iii) above, in no event
will any Incremental Term Loans have a Weighted Average Life to Maturity that is shorter than the then remaining Weighted Average Life to Maturity of the Term B Loans, (v) the Applicable Margin for such Incremental Term Loans and any prepayment
premiums or call protection applicable thereto, (vi) the proposed original issue discount applicable to such Incremental Term Loans, if any, (vii) whether, if applicable, such Incremental Term Loans constitute Refinancing Term Loans or
Escrow Incremental Term Loans, (viii) whether any provision of this Agreement that requires a minimum final maturity or Weighted Average Life to Maturity for any other Indebtedness by reference to any previously established Term Loans is
following the Incremental Closing Date amended to provide a similar benefit to such Incremental Term Loans, and (ix) any other terms and conditions that will apply to such Incremental Term Loans; provided that, except as provided above,
(x) such other terms and conditions shall be the same as or less favorable to the Lenders providing such Incremental Term Loans than the terms and conditions of any then outstanding Class of Term Loans, (y) such other terms and conditions
shall not apply until all then outstanding Loans and Commitments (other than such Incremental Term Loans) have been repaid and terminated, as applicable, or until approved by the Required Lenders or (z) such other terms and conditions shall
apply to Escrow Incremental Term Loans solely until the Escrow Assumption with respect thereto occurs. Notwithstanding the foregoing, without the consent of the Required Lenders, (A) no Incremental Term Loans (other than Escrow Incremental Term
Loans) may be borrowed after the Restatement Effective Date if after giving effect to the borrowing of such Incremental Term Loans and the application of proceeds therefrom on the date such Incremental Term Loans are borrowed the aggregate principal
amount of all Classes of Term Loans, First Lien Notes and Pre-Existing Debt would exceed the First Lien Term Cap, (B) no Net Cash Proceeds of any Incremental Term Loans that are not Refinancing Term Loans shall be directly applied to prepay
outstanding Term Loans, (C) each increase effected pursuant to this paragraph shall be in a minimum amount of at least $100,000,000, (D) subject to Section 1.2(j), no Incremental Term Loans (other than Escrow Incremental Term Loans)
may be borrowed if a Default or Event of Default is in existence after giving pro forma effect thereto, (E) Escrow Incremental Term Loans shall not be deemed to be outstanding under this Agreement or any other Loan Document for
any purposes hereof (including, without limitation, for purposes of any financial calculation, the definition of “Obligations”, the definition of “Required Lenders” or Section 8 or Section 10.1 hereof) and the
obligations with respect thereto shall not be recourse to the Borrower or any Subsidiary Guarantor, in each case, unless and until the Escrow Assumption with respect thereto has occurred and (F) the Escrow Assumption with respect to any Escrow

  
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Incremental Term Loans shall not be permitted unless on the date thereof (and after giving effect thereto) the conditions set forth in clauses (A) and (D) above would be satisfied if
the Borrower was borrowing such Incremental Term Loans on the date of such Escrow Assumption. With the consent of the Borrower and each of the Lenders with any Class of then outstanding Incremental Term Loans and pursuant to an assumption agreement
reasonably satisfactory to the Administrative Agent, an Escrow Borrower may assume all obligations of the Borrower with respect to such Class of Term Loans (including with respect to the full principal amount thereof and all accrued and unpaid
interest and other amounts owing with respect thereto, in which case, such Class of Incremental Term Loans shall thereafter be deemed to not be outstanding for purposes of this Agreement or any other Loan Document and shall be Escrow Term Loans
until such time, if any, as an Escrow Assumption with respect thereto has occurred, at which time any such Escrow Term Loans that accrued interest at a rate based on the Eurodollar Rate immediately prior to such Escrow Assumption shall constitute a
Eurodollar Tranche with an initial Interest Period equal to the then unexpired interest period applicable thereto immediately prior to such Escrow Assumption. No Lender shall have any obligation to participate in any increase described in this
paragraph unless it agrees to do so in its sole discretion. The consent of the Administrative Agent (such consent not to be unreasonably withheld, conditioned or delayed) shall be required for any Person to provide an Incremental Term Loan unless
such Person, or an Affiliate thereof, was previously a Lender. Notwithstanding the foregoing, with the consent of the holders of any Pre-Existing Debt, the Borrower and the Administrative Agent (to the extent the consent of the Administrative Agent
would be required for an assignment to any such holder, such consent not to be unreasonably withheld), such Pre-Existing Debt may, pursuant to an Incremental Activation Notice, be deemed to have been issued as Incremental Term Loans under this
Agreement on the date of effectiveness of such Incremental Activation Notice so long as the Incremental Term Loans resulting therefrom comply with the requirements set forth above (other than clause (C)) that are applicable to Incremental Term Loans
and thereafter, the terms of such Pre-Existing Debt shall be governed by the terms of this Agreement (as modified by the applicable Incremental Activation Notice). To the extent provided in the relevant Incremental Activation Notice with respect to
any Refinancing Term Loans, any portion of the Term Loans that would otherwise be repaid from the net proceeds of such Refinancing Term Loans may be converted on a “cashless roll” basis into such Refinancing Term Loans if agreed to by each
Lender holding the Term Loans that are so converted. 
 (h) The Borrower may at any time and from time to time request that all or a portion
of the Term Loans of any Class (an “Existing Class”) be converted to extend the scheduled maturity date(s) of any payment or payments of principal (including at final maturity) with respect to such Term Loans (any such Term Loans
which have been so converted, “Extended Term Loans”) and to provide for other terms consistent with this Section 2.1(h). In order to establish a Series of Extended Term Loans, the Borrower shall provide a notice to the
Administrative Agent (who shall provide a copy of such notice to each of the Lenders under the applicable Existing Class) (an “Extension Request”) setting forth the proposed terms of the Extended Term Loans to be established, which
shall be identical in all material respects to the Term Loans under the Existing Class from which such Extended Term Loans are to be converted except that (i) all or any of the scheduled amortization payments of principal and payment at
maturity of the Extended Term Loans may be delayed to later dates than the scheduled amortization payments of principal and payment at maturity of the Term Loans of such Existing Class to the extent provided in the applicable Incremental Activation
Notice, (ii) the Applicable Margins with respect to the Extended Term Loans may be different than the Applicable Margins for the Term Loans of such Existing Class and upfront fees may be paid to the Extending Term Lenders, in each case, to the
extent provided in the applicable Incremental Activation Notice, (iii) [Reserved] and (iv) the Incremental Activation Notice may provide for other covenants and terms (x) that apply solely to any period after the latest final maturity
of the Term Loans and Commitments in effect on the effective date of the Incremental Activation Notice immediately prior to the establishment of such Extended Term Loans, or after approval 

  
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thereof by the Required Lenders or (y) that are less favorable to the holders of the Extended Term Loans than the covenants and terms applicable to the Existing Class. The Borrowers shall
provide the applicable Extension Request at least five (5) Business Days prior to the date on which Lenders are requested to respond. No Lender shall have any obligation to agree to have any of its Term Loans of any Existing Class converted
into Extended Term Loans pursuant to any Extension Request. Any Lender (an “Extending Term Lender”) wishing to have all or a portion of its Term Loans of the applicable Existing Class subject to such Extension Request converted into
Extended Term Loans shall notify the Administrative Agent in writing (an “Extension Election”) on or prior to the date specified in such Extension Request of the amount of its Term Loans of the applicable Existing Class which it has
elected to request be converted into Extended Term Loans (subject to any minimum denomination requirements reasonably imposed by the Administrative Agent). In the event that the aggregate amount of Term Loans of the applicable Existing Class subject
to Extension Elections exceeds the amount of Extended Term Loans requested pursuant to the Extension Request, Term Loans of the applicable Existing Class subject to Extension Elections shall be converted to Extended Term Loans on a pro rata basis
based on the amount of Term Loans of the applicable Existing Class included in each such Extension Election. The final terms of the Extended Term Loans (which shall be consistent with the Extension Request) and the allocations of the Extended Term
Loans among the Extending Term Lenders shall be as set forth in the applicable Incremental Activation Notice entered into by the Borrower and the Administrative Agent. Each Extending Term Lender’s Election Request shall be deemed to be an
authorization for the Administrative Agent and the Borrower to enter into such Incremental Activation Notice in accordance with the requirements set forth above in this Section 2.1(h) and to bind such Extending Term Lender thereby. 

(i) The Borrower and any one or more Lenders (including Persons that become Lenders in connection therewith) may from time to time agree that
such Lenders will establish Revolving Commitments through (A) the provision of a new Revolving Commitment by any such Lender or (B) the conversion of a previously established Revolving Commitment of any such Lender to such Extended
Revolving Commitment of such Lender (any Revolving Commitments being established pursuant to clause (A) or (B) above and in accordance with this Section 2.1(i), an “Extended Revolving Commitment”, which for the
avoidance of doubt, shall also be a “Revolving Commitment”), in each case, by executing and delivering to the Administrative Agent an Incremental Activation Notice specifying (i) the amount of Extended Revolving Commitments
established thereby and whether such Extended Revolving Commitments are being established pursuant to clause (A) or (B) of the foregoing sentence, (ii) the Revolving Termination Date for such Extended Revolving Commitments;
provided that the Revolving Termination Date for any Extended Revolving Commitments shall in no event be earlier than the Revolving Termination Date for the Revolving
B Commitments established on the RestatementAmendment No. 1 Effective Date and there shall not be more than three (3) Revolving Termination Dates in effect at any time, (iii) the Applicable Margin for Revolving Loans and fees in respect of participations in
Letters of Credit pursuant to such Extended Revolving Commitments and the Commitment Fee Rate for commitment fees payable with respect to such Extended Revolving Commitments; provided that (x) in no event shall there be more than three
(3) Applicable Margins in effect in the aggregate for all Revolving Commitments at any time and (y) either (A) the Applicable Margins for Revolving Loans, fees in respect of participations in Letters of Credit and the Commitment Fee
Rate for all Revolving Commitments that have the same Revolving Termination Date shall be the same (although different upfront fees may be paid by the Borrower) or (B) the maximum number of Revolving Termination Dates permitted to be in effect
at any time shall be reduced by the number of such different Applicable Margins and fees in excess of one applicable to Revolving Commitments with the same Revolving Termination Date and (iv) whether clause (ii) above shall be amended to
provide that future Extended Revolving Commitments may not have a Revolving Termination Date prior to the Revolving Termination Date for such Extended Revolving Commitments. Except as set forth above, the

  
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terms of the Extended Revolving Commitments shall be identical in all material respects to the Revolving
B Commitments established on the RestatementAmendment No. 1 Effective Date. Notwithstanding the foregoing, without the consent of the Required Lenders, no Extended Revolving Commitments may be established following the Restatement Effective Date if after giving effect to
the establishment of such Extended Revolving Commitments (and any concurrent reduction in the amount of any other Revolving Commitments) the aggregate amount of Revolving Commitments then in effect would exceed the Revolving Commitment Cap. No
Lender shall have any obligation to participate in any increase described in this paragraph unless it agrees to do so in its sole discretion. The consent of the Administrative Agent and each Issuing Lender (such consents not to be unreasonably
withheld, conditioned or delayed) shall be required with respect to each Lender providing an Extended Revolving Commitment to the extent such Lender is not already a Revolving Lender that is not a Defaulting Lender. On each date on which Extended
Revolving Commitments are established, each Revolving Lender shall purchase at par from and/or sell at par to each of the other Revolving Lenders such portions of the outstanding Revolving Loans, if any, as may be specified by the Administrative
Agent so that, immediately following such purchases, all Eurodollar Tranches of Revolving Loans and all ABR Loans that are Revolving Loans shall be held by the Revolving Lenders on a pro rata basis in accordance with their respective Revolving
Percentages. Notwithstanding the foregoing, with the consent of the holders of any revolving commitments under which Pre-Existing Debt may be borrowed, the Borrower, the Administrative Agent, the Swingline Lender and each Issuing Lender (to the
extent the consent of the Administrative Agent, Swingline Lender and Issuing Lender would be required for an assignment to any such holder, each such consent not to be unreasonably withheld), such revolving commitments may, pursuant to an
Incremental Activation Notice, be deemed to have been issued as Extended Revolving Commitments under this Agreement on the date of effectiveness of such Incremental Activation Notice so long as the Extended Revolving Commitments resulting therefrom
comply with the requirements set forth above that are applicable to Extended Revolving Commitments and thereafter, the terms of such Pre-Existing Debt shall be governed by the terms of this Agreement (as modified by the applicable Incremental
Activation Notice). 
 (j) The Borrower and any one or more Lenders (including Persons that become Lenders in connection therewith)
may from time to time agree that such Lenders shall make Replacement Term Loans (which Replacement Term Loans may, at the election of the Borrower and the applicable Lenders, be made in the form of a conversion of Term Loans of an existing Class
into such Replacement Term Loans) in order to replace in full or in part any Class of then outstanding Term Loans by executing and delivering to the Administrative Agent an Incremental Activation Notice specifying (i) the amount of such
Replacement Term Loans (which may be up to an amount equal to the original aggregate principal amount of the Class of Term Loans being replaced plus, so long as the Borrower would be in pro forma compliance with Section 7.1, the
amount of any upfront fees or original issue discount thereon), (ii) the date on which such Replacement Loans will be made, (iii) the applicable Replacement Term Maturity Date (which shall not be earlier than the Term Maturity Date of the
Class of Term Loans being replaced), (iv) the amortization schedule for such Replacement Term Loans; provided that in no event shall any Replacement Term Loans have a Weighted Average Life to Maturity that is shorter than the then
remaining Weighted Average Life to Maturity of the Term Loans of the Class being replaced, (v) the Applicable Margin for such Replacement Term Loans and any prepayment premiums or call protection applicable thereto, if any, (vi) the
proposed original issue discount applicable to such Replacement Term Loans, if any, (vii) whether any provision of this Agreement that requires a minimum final maturity or Weighted Average Life to Maturity for any other Indebtedness by
reference to any previously established Term Loans is following the date such Replacement Term Loans are established amended to provide a similar benefit to such Replacement Term Loans, (viii) any other terms and conditions that will apply to
such Replacement Term Loans; provided that, except as provided above, either (x) such other terms and conditions shall be the same as or less favorable to the Lenders providing such Replacement Term Loans

  
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than the terms and conditions of the Class of Term Loans being replaced or (y) such other terms and conditions shall not apply until all then outstanding Loans and Commitments (other than
such Replacement Term Loans) have been repaid and terminated, as applicable, or until approved by the Required Lenders. No Lender shall have any obligation to participate in any Replacement Term Loans unless it agrees to do so in its sole
discretion. The consent of the Administrative Agent (such consent not to be unreasonably withheld, conditioned or delayed) shall be required for any Person to provide a Replacement Term Loan unless such Person, or an Affiliate thereof, was
previously a Lender. 
 2.2. Procedure for Borrowing. In order to effect a borrowing hereunder, the Borrower shall give notice to the
Administrative Agent, which may be given by: (A) telephone or (B) a Notice of Borrowing (which notice must be received by the Administrative Agent prior to 1:00 P.M., New York City time, (a) three Business Days (or two Business Days
in the case of a notice delivered for a Borrowing on the Restatement Effective Date) prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (b) one Business Day prior to the requested Borrowing Date, in the case of ABR
Loans) (provided that any such Notice of Borrowing of ABR Loans under the Revolving Facility to finance payments required by Section 3.5 may be given not later than 1:00 P.M. New York City time, on the date of the proposed borrowing and,
provided, further, that any telephonic notice must be confirmed immediately by delivery to the Administrative Agent of a Notice of Borrowing), specifying (i) the Class of Loan to be borrowed, (ii) the amount and Type of Loans to be
borrowed, (iii) the requested Borrowing Date and (iv) in the case of Eurodollar Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Period therefor. Each borrowing shall be in an
aggregate amount equal to (x) in the case of ABR Loans, $5,000,000 or a whole multiple of $1,000,000 in excess thereof (or, if the then aggregate relevant Available Revolving Commitments are less than $5,000,000, such lesser amount) and
(y) in the case of Eurodollar Loans, $10,000,000 or a whole multiple of $1,000,000 in excess thereof; provided, that the Swingline Lender may request, on behalf of the Borrower, borrowings under the Revolving Commitments that are ABR Loans in
other amounts pursuant to Section 2.5. Upon receipt of any Notice of Borrowing from the Borrower, the Administrative Agent shall promptly notify each relevant Lender thereof. Except as provided in Section 2.1(a), each relevant Lender will
make the amount of its pro rata share of each borrowing available to the Administrative Agent (in the case of any Revolving Loan, based on respective Revolving Percentages of the Revolving Lenders) for the account of the Borrower at the Funding
Office prior to 10:00 A.M., New York City time (or 2:00 P.M., New York City time in respect of ABR Loans under the Revolving Facility to finance payments required by Section 3.5), on the Borrowing Date requested by the Borrower in funds
immediately available to the Administrative Agent; provided that, in the event that any Revolving Lender fails to make available to the Administrative Agent any portion of such amount prior to 10:30 A.M. New York City time (or 2:30 P.M., New York
City time in respect of ABR Loans under the Revolving Facility to finance payments required by Section 3.5) on the relevant Borrowing Date, the Borrower shall be deemed to have provided notice to the Swingline Lender in accordance with
Section 2.5 requesting a Swingline Loan in an amount equal to the aggregate amount of any such shortfall, rounded up to the applicable whole multiple of $500,000 (but in no event exceeding, together with all outstanding Swingline Loans, the
Swingline Commitment). Such borrowing (including any such Swingline Loan) will then be made available not later than 11:00 A.M., New York City time (or 3:00 P.M., New York City time in respect of ABR Loans under the Revolving Facility to finance
payments required by Section 3.5), to the Borrower by the Administrative Agent crediting the account of the Borrower on the books of such office with the aggregate of the amounts made available to the Administrative Agent by the relevant
Lenders and in like funds as received by the Administrative Agent. 

  
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 2.3. Repayment of Loans. 

(a) The Term A-2 Loans of each Lender shall mature in 2117 consecutive installments following the RestatementAmendment No. 1 Effective Date on the dates and in the aggregate amounts for all Term A-2 Loans set forth below (it being understood that, in addition to reductions resulting from optional and mandatory prepayments in accordance
with Section 2.8 and Section 2.9, the aggregate principal amount of amortization payable by the Borrower with respect to all Term A-2 Loans on any such date shall be reduced proportionately as a result of any future conversion of Term A-2
Loans to Extended Term Loans following the
RestatementAmendment No. 1 Effective Date and prior to such date of payment): 
  

					
	 Installment Date
	  	Installment Amount	 
	 March 31, 2018
	  	$	35,937,500	 
	 June 30, 2018
	  	$	35,937,500	 
	 September 30, 2018
	  	$	35,937,500	 
	 December 31, 2018
	  	$	35,937,500	 
	 March 31, 2019
	  	$	35,937,5005,010,035.20	 
	 June 30, 2019
	  	$	35,937,5005,010,035.20	 
	 September 30, 2019
	  	$	35,937,5005,010,035.20	 
	 December 31, 2019
	  	$	35,937,5005,010,035.20	 
	 March 31, 2020
	  	$	35,937,5005,010,035.20	 
	 June 30, 2020
	  	$	35,937,5005,010,035.20	 
	 September 30, 2020
	  	$	35,937,5005,010,035.20	 
	 December 31, 2020
	  	$	35,937,5005,010,035.20	 
	 March 31, 2021
	  	$	35,937,5005,010,035.20	 
	 June 30, 2021
	  	$	35,937,5005,010,035.20	 
	 September 30, 2021
	  	$	35,937,5005,010,035.20	 
	 December 31, 2021
	  	$	35,937,5005,010,035.20	 
	 March 31, 2022
	  	$	35,937,5005,010,035.20	 
	 June 30, 2022
	  	$	35,937,5005,010,035.20	 
	 September 30, 2022
	  	$	35,937,5005,010,035.20	 
	 December 31, 2022
	  	$	35,937,5005,010,035.20	 
	 Term A-2 Maturity Date:
	  	$	2,156,250,000$300,602,111.86	 

 (b) The Term B Loans of each Term B Lender shall mature in 30 installments following the Restatement Effective
Date (each due on the last day of each calendar quarter, except for such last installment), commencing on March 31, 2018, each of which shall be in an amount equal to (i) in the case of the first 29 such remaining installments, $15,875,000
(it being understood that, in addition to reductions resulting from optional and mandatory prepayments in accordance with Section 2.8 and Section 2.9, the aggregate principal amount of amortization payable by the Borrower with respect to
all Term B Loans on any such date shall be reduced proportionately as a result of any conversion of Term B Loans to Extended Term Loans following the Restatement Effective Date and prior to the date of such payment) and (ii) in the case of the
last such installment (which shall be due on the Term B Maturity Date), the remaining principal balance of such Term B Loans outstanding on such date. 

(c) [Reserved].

 (c) The Term A-3
Loans of each Lender shall mature in 21 consecutive installments following the Amendment No. 1 Effective Date on the dates and in the aggregate amounts for all Term A-3 Loans set forth below (it being understood that, in addition to reductions
resulting from optional and mandatory prepayments in accordance with Section 2.8 and Section 2.9, the aggregate principal amount
of amortization payable by the Borrower with respect to all Term A-3 Loans on any such date shall be reduced proportionately
as a result of any future conversion of Term A-3 Loans to Extended Term Loans following the Amendment No. 1 Effective Date and prior to such date of payment): 

  
 -45- 

					
	
Installment
Date
	  	Installment Amount	 
	 March 31,
2019
	  	$	50,534,529.07	 
	 June 30,
2019
	  	 	50,534,529.07	 
	 September 30,
2019
	  	 	50,534,529.07	 
	 December 31,
2019
	  	 	50,534,529.07	 
	 March 31,
2020
	  	 	50,534,529.07	 
	 June 30,
2020
	  	 	50,534,529.07	 
	 September 30,
2020
	  	 	50,534,529.07	 
	 December 31,
2020
	  	 	50,534,529.07	 
	 March 31,
2021
	  	 	50,534,529.07	 
	 June 30,
2021
	  	 	50,534,529.07	 
	 September 30,
2021
	  	 	50,534,529.07	 
	 December 31,
2021
	  	 	50,534,529.07	 
	 March 31,
2022
	  	 	50,534,529.07	 
	 June 30,
2022
	  	 	50,534,529.07	 
	 September 30,
2022
	  	 	50,534,529.07	 
	 December 31,
2022
	  	 	50,534,529.07	 
	 March 31,
2023
	  	 	50,534,529.07	 
	 June 30,
2023
	  	 	50,534,529.07	 
	 September 30,
2023
	  	 	50,534,529.07	 
	 December 31,
2023
	  	 	50,534,529.07	 
	 Term A-3 Maturity
Date:
	  	$	3,032,071,743.54	 

 (d) [Reserved]. 

(e) [Reserved]. 
 (f) The
Incremental Term Loans of each Class established following the Restatement Effective Date shall mature in installments as specified in the Incremental Activation Notice pursuant to which such Incremental Term Loans were made (and subject to the
limitations contained in Section 2.1(h)).  

(g) The Extended Term Loans of each Class shall mature in installments as specified in the Incremental Activation Notice pursuant to which such
Extended Term Loans were converted (and subject to the limitations contained in Section 2.1(h)).  
 (h) The Replacement Term Loans of each Class shall mature in installments as specified in the
Incremental Activation Notice pursuant to which such Replacement Term Loans were established (and subject to the limitations contained in Section 2.1(j)). 

(i) The Borrower shall repay all outstanding Revolving Loans made pursuant to any Revolving Commitments on the Revolving Termination Date for
such Revolving Commitments. The Borrower shall repay all Swingline Loans on the first date on which the Revolving Termination Date has occurred with respect to all Revolving Commitments. 

  
 -46- 

 (j) The Borrower shall repay all Existing Loans (other than Converted Term Loans) on the
Restatement Effective Date, together with all accrued interest under the Existing Credit Agreement to but excluding the Restatement Effective Date. 

2.4. Swingline Commitment. Subject to the terms and conditions hereof, the Swingline Lender agrees, in reliance upon the agreements of
the other Lenders set forth in Section 2.5, to make a portion of the credit otherwise available to the Borrower under the Revolving Commitments from time to time during the Revolving Commitment Period for any Revolving Commitments by making
swingline loans (“Swingline Loans”) to the Borrower; provided that (a) the aggregate principal amount of Swingline Loans outstanding at any time shall not exceed the Swingline Commitment then in effect (notwithstanding
that the Swingline Loans outstanding at any time, when aggregated with the Swingline Lender’s other outstanding Revolving Loans hereunder, may exceed the Swingline Commitment then in effect) and the aggregate amount of Swingline Loans made by
Bank of America, N.A. shall not exceed the Revolving Commitment of Bank of America, N.A. unless otherwise agreed by Bank of America, N.A. in its sole discretion), (b) the Borrower shall not request, and the Swingline Lender shall not make, any
Swingline Loan if, after giving effect to the making of such Swingline Loan, the aggregate amount of the Available Revolving Commitments would be less than zero and (c) the Swingline Lender shall be under no obligation to make any Swingline
Loan at any time that any Revolving Lender is a Defaulting Lender unless the Swingline Lender has entered into arrangements, including, if requested, the delivery of Cash Collateral, satisfactory to the Swingline Lender (in its sole discretion) with
the Borrower or such Lender to eliminate such Swingline Lender’s actual or potential Fronting Exposure (after giving effect to Section 2.21(a)(iii)) with respect to the Defaulting Lender arising from either the Swingline Loan to be made
and all other Swingline Loans as to which such Swingline Lender has actual or potential Fronting Exposure, as it may elect in its sole discretion. During the Revolving Commitment Period for any Revolving Commitments, the Borrower may use the
Swingline Commitment by borrowing, repaying and reborrowing, all in accordance with the terms and conditions hereof. Swingline Loans shall be ABR Loans only. 

2.5. Procedure for Swingline Borrowing; Refunding of Swingline Loans. 

(a) Whenever the Borrower desires that the Swingline Lender make Swingline Loans it shall give the Swingline Lender irrevocable telephonic
notice confirmed promptly in writing or such other form as approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent pursuant), appropriately
completed and signed by a Responsible Officer of the Borrower (which notice must be received by the Swingline Lender not later than 1:00 P.M., New York City time, on the proposed Borrowing Date), specifying (i) the amount to be borrowed and
(ii) the requested Borrowing Date (which shall be a Business Day during the Revolving Commitment Period for any Revolving Commitments). Each borrowing under the Swingline Commitment shall be in an amount equal to $1,000,000 or a whole multiple
of $500,000 in excess thereof. Not later than 3:00 P.M., New York City time, on the Borrowing Date specified in a notice in respect of Swingline Loans, the Swingline Lender shall make available to the Administrative Agent at the Funding Office an
amount in immediately available funds equal to the amount of the Swingline Loan to be made by the Swingline Lender. The Administrative Agent shall make the proceeds of such Swingline Loan available to the Borrower on such Borrowing Date by
depositing such proceeds in the account of the Borrower with the Administrative Agent on such Borrowing Date in immediately available funds. 

(b) The Swingline Lender, at any time and from time to time in its sole and absolute discretion and in consultation with the Borrower (provided
that the failure to so consult shall not affect the ability of the Swingline Lender to make the following request) may, on behalf of the Borrower (which 

  
 -47- 

 
hereby irrevocably directs the Swingline Lender to act on its behalf), on one Business Day’s notice given by the Swingline Lender no later than 1:00 P.M., New York City time, request each
Revolving Lender to make, and each Revolving Lender hereby agrees to make, a Revolving Loan, in an amount equal to such Revolving Lender’s Revolving Percentage of the aggregate amount of the Swingline Loans (the “Refunded Swingline
Loans”) outstanding on the date of such notice, to repay the Swingline Lender. Each Revolving Lender shall make the amount of such Revolving Loan available to the Administrative Agent at the Funding Office in immediately available funds,
not later than 12:00 Noon, New York City time, one Business Day after the date of such notice. The proceeds of such Revolving Loans shall be immediately made available by the Administrative Agent to the Swingline Lender for application by the
Swingline Lender to the repayment of the Refunded Swingline Loans. The Borrower irrevocably authorizes the Swingline Lender to charge the Borrower’s accounts with the Administrative Agent (up to the amount available in each such account) in
order to immediately pay the amount of such Refunded Swingline Loans to the extent amounts received from the Revolving Lenders are not sufficient to repay in full such Refunded Swingline Loans. 

(c) If prior to the time a Revolving Loan would have otherwise been made pursuant to Section 2.5(b), one of the events described in
Section 8.1(g) shall have occurred and be continuing with respect to the Borrower or if for any other reason, as determined by the Swingline Lender in its sole discretion, Revolving Loans may not be made as contemplated by Section 2.5(b),
each Revolving Lender shall, on the date such Revolving Loan was to have been made pursuant to the notice referred to in Section 2.5(b), purchase for cash an undivided participating interest in the then outstanding Swingline Loans by paying to
the Swingline Lender an amount (the “Swingline Participation Amount”) equal to (i) such Revolving Lender’s Revolving Percentage times (ii) the sum of the aggregate principal amount of Swingline Loans then
outstanding that were to have been repaid with such Revolving Loans. 
 (d) Whenever, at any time after the Swingline Lender has received
from any Revolving Lender such Lender’s Swingline Participation Amount, the Swingline Lender receives any payment on account of the Swingline Loans, the Swingline Lender will distribute to such Lender its Swingline Participation Amount
(appropriately adjusted, in the case of interest payments, to reflect the period of time during which such Lender’s participating interest was outstanding and funded and, in the case of principal and interest payments, to reflect such
Lender’s pro rata portion of such payment if such payment is not sufficient to pay the principal of and interest on all Swingline Loans then due); provided, however, that in the event that such payment received by the
Swingline Lender is required to be returned, such Revolving Lender will return to the Swingline Lender any portion thereof previously distributed to it by the Swingline Lender. 

(e) Each Revolving Lender’s obligation to make the Loans referred to in Section 2.5(b) and to purchase participating interests
pursuant to Section 2.5(c) shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any setoff, counterclaim, recoupment, defense or other right that such Revolving Lender or the Borrower may have
against the Swingline Lender, the Borrower or any other Person for any reason whatsoever; (ii) the occurrence or continuance of a Default or an Event of Default or the failure to satisfy any of the other conditions specified in Section 5;
(iii) any adverse change in the condition (financial or otherwise) of the Borrower; (iv) any breach of this Agreement or any other Loan Document by the Borrower, any other Loan Party or any other Revolving Lender; or (v) any other
circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. 

  
 -48- 

 2.6. Fees, Etc. 

(a) The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender a nonrefundable commitment fee through the
last day of the Revolving Commitment Period for such Revolving Lender’s Revolving Commitment computed at the Commitment Fee Rate for such Revolving Commitment on the actual daily amount of the Available Revolving Commitment, payable quarterly
in arrears on the last day of each March, June, September and December and on the Revolving Termination Date. The Borrower agrees to pay to the Administrative Agent for the account of the relevant Lenders all accrued and unpaid commitment fees under
this Agreement with respect to the Existing Revolving Commitments to but excluding the Restatement Effective Date. 
 (b) The Borrower agrees
to pay to the Administrative Agent the fees in the amounts and on the dates previously agreed to in writing by the Borrower and the Administrative Agent. 

(c) Notwithstanding anything to the contrary contained in this Agreement, at the time of the effectiveness of any Repricing Transaction that is
consummated prior to June 21, 2018, the Borrower agrees to pay to the Administrative Agent, for the ratable account of each Lender with outstanding Term B Loans subject to such Repricing Transaction, a fee in an amount equal to 1.0% of
(x) in the case of a Repricing Transaction of the type described in clause (a) of the definition thereof, the aggregate principal amount of all Term B Loans of such Lender prepaid (or converted) in connection with such Repricing
Transaction and (y) in the case of a Repricing Transaction described in clause (b) of the definition thereof, the aggregate principal amount of the Term B Loans of such Lender outstanding immediately prior to such amendment. Such fees
shall be due and payable upon the date of the effectiveness of such Repricing Transaction. 
 2.7. Termination or Reduction of
Commitments. 
 (a) The Borrower shall have the right, upon notice delivered to the Administrative Agent no later than 1:00 P.M., New
York City time, at least three Business Days prior to the proposed date of termination or reduction, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such
termination or reduction shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans or Swingline Loans made on the effective date thereof, the Revolving Extensions of Credit of any Revolving Lender would exceed
such Revolving Lender’s Revolving Commitment. Any such reduction shall be in an amount equal to $10,000,000, or a whole multiple of $1,000,000 in excess thereof, shall reduce permanently the Revolving Commitments then in effect and shall be
applied to reduce the Revolving Commitments of the Revolving Lenders as the Borrower may designate, but in any event, in the case of Revolving Commitments with the same Revolving Termination Date, on a pro rata basis among such
Revolving Commitments based on the respective amount of such Revolving Commitments of each Revolving Lender. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable, provided that such notice may state that it is
conditioned upon the effectiveness of other credit facilities (including under this Agreement) or incurrence of other Indebtedness, the consummation of a particular Disposition, the occurrence of a change of control or other event), in which case
such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. 

(b) The Existing Revolving Commitments will terminate on the Restatement Effective Date. The Additional Term B Commitment will terminate on the Restatement Effective Date immediately upon the funding of the Term B Loans
thereunder. The Term
A-23 Commitment of each Lender will terminate on the
RestatementAmendment No. 1 Effective Date immediately upon the funding of such Lender’s Term A-23 Loan
thereunder. The Additional Term B Commitment will terminate on the Restatement Effective Date immediately upon the funding of the Term B Loans thereunder. 

  
 -49- 

 2.8. Optional Prepayments. 

(a) The Borrower may at any time and from time to time prepay the Loans of any Class, in whole or in part, without premium or penalty, upon
notice in such form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible
Officer, delivered to the Administrative Agent no later than 1:00 P.M., New York City time, at least three Business Days prior thereto in the case of Eurodollar Loans and no later than 1:00 P.M., New York City time, at least one Business Day prior
thereto in the case of ABR Loans, which notice shall specify the date and amount of prepayment, the Class of Loans being prepaid and whether the prepayment is of Eurodollar Loans or ABR Loans; provided, that if a Eurodollar Loan is prepaid on
any day other than the last day of the Interest Period applicable thereto, the Borrower shall also pay any amounts owing pursuant to Section 2.18. Upon receipt of any such notice, the Administrative Agent shall promptly notify each relevant
Lender thereof. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein, together with (except in the case of Revolving Loans that are ABR Loans and Swingline Loans) accrued interest to
such date on the amount prepaid. Partial prepayments of Term Loans and Revolving Loans pursuant to this Section 2.8(a) shall be in an aggregate principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof. Partial
prepayments of Swingline Loans shall be in an aggregate principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable, provided that such notice
may state that it is conditioned upon the effectiveness of other credit facilities (including under this Agreement) or incurrence of other Indebtedness, the consummation of a particular Disposition, the occurrence of a change of control or other
event), in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified prepayment date) if such condition is not satisfied. Any prepayment of Loans of any Class pursuant to this
Section 2.8(a) shall be applied to the Loans of such Class of each Lender on a pro rata basis in accordance with the respective amounts of such Loans held by each such Lender. 

(b) (i) Notwithstanding anything to the contrary in Section 2.8(a), the Borrower shall have the right at any time and from time to time to
prepay Term Loans of any Class, to the Lenders at a prepayment price which is less than, equal to or greater than the principal amount of such Term Loans and on a non pro rata basis (each, an “Offered Voluntary Prepayment”) pursuant
to the procedures described in this Section 2.8(b); provided that (A) no Offered Voluntary Prepayment may be made if a Default or Event of Default has occurred and is continuing or if, after giving effect to such Offered Voluntary
Prepayment, Available Liquidity would be less than $250,000,000, (B) any Offered Voluntary Prepayment shall be offered to all Lenders with Term Loans of the Class selected by the Borrower on a pro rata basis and (C) the
Borrower shall deliver to the Administrative Agent a certificate of a Responsible Officer of the Borrower stating that (1) no Default or Event of Default has occurred and is continuing or would result from such Offered Voluntary Prepayment and
(2) each of the conditions to such Offered Voluntary Prepayment contained in this Section 2.8(b) has been satisfied. 
 (ii) To the
extent the Borrower seeks to make an Offered Voluntary Prepayment, the Borrower will provide written notice from a Responsible Officer of the Borrower to the Administrative Agent (each, an “Offered Prepayment Option Notice”) that
the Borrower desires to prepay Term Loans of a specified Class in an aggregate principal amount specified therein by the Borrower (each, a “Proposed Offered Prepayment Amount”). The Proposed Offered Prepayment Amount shall not be
less than $25,000,000 (or such lesser amount if the Term Loans of such specified Class have a lower aggregate amount outstanding at such time). The Offered Prepayment Option Notice shall further specify with respect to the proposed Offered Voluntary
Prepayment: (A) the Proposed Offered Prepayment Amount for Term Loans and the Class of Term Loans with respect to such offer is being made, (B) an offered 

  
 -50- 

 
prepayment price range (which may be a single percentage) selected by the Borrower with respect to such proposed Offered Voluntary Prepayment equal to a percentage of par of the principal amount
of Term Loans of the applicable Class (the “Offered Range”) and (C) the date by which Lenders are required to indicate their election to participate in such proposed Offered Voluntary Prepayment (the “Acceptance
Date”) which shall be at least five Business Days following the date of such Offered Prepayment Option Notice is delivered. 
 (iii)
Upon receipt of an Offered Prepayment Option Notice, the Administrative Agent shall promptly notify each applicable Lender thereof. On or prior to the Acceptance Date, each such Lender may specify by written notice in form reasonably satisfactory to
the Administrative Agent (each, a “Lender Participation Notice”; it being understood that a Lender may deliver more than one Lender Participation Notice, and that each such Lender Participation Notice of such Lender shall constitute
an independent and unconditional offer, and no such Lender Participation Notice may be contingent on the making of any prepayment with respect to the Offered Loans in respect of any other Lender Participation Notice, or otherwise be contingent or
conditional in any way) to the Administrative Agent (A) a minimum price (the “Acceptable Price”) within the Offered Range at which such Lender is willing to accept a prepayment of a portion of its Term Loans of the applicable
Class and (B) a maximum principal amount (subject to rounding requirements specified by the Administrative Agent) of Term Loans of such Class held by such Lender with respect to which such Lender is willing to permit an Offered Voluntary
Prepayment at the Acceptable Price (“Offered Loans”). Based on the Acceptable Prices and principal amounts of Term Loans of the applicable Class specified by the Lenders in the applicable Lender Participation Notice, the
Administrative Agent, in consultation with the Borrower, shall determine the applicable prepayment price for Term Loans pursuant to such Offered Voluntary Prepayment (the “Applicable Price”), which Applicable Price shall be
(A) the percentage specified by the Borrower if the Borrower has selected a single percentage pursuant to Section 2.8(b)(ii) for the Offered Voluntary Prepayment or (B) otherwise, the lowest Acceptable Price at which the Borrower can
pay the Proposed Offered Prepayment Amount in full (determined by adding the principal amounts of Offered Loans commencing with the Offered Loans with the lowest Acceptable Price); provided, however, that in the event that such
Proposed Offered Prepayment Amount cannot be repaid in full at any Acceptable Price, the Applicable Price shall be the highest Acceptable Price specified by the Lenders that is within the Offered Range. The Applicable Price shall be applicable for
all Lenders who have offered to participate in the Offered Voluntary Prepayment and have Qualifying Loans (as defined below). Any Lender with outstanding Loans whose Lender Participation Notice is not received by the Administrative Agent by the
Acceptance Date shall be deemed to have declined to accept an Offered Voluntary Prepayment of any of its Loans at the Applicable Price. 

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

  
 -51- 

 (v) Each Offered Voluntary Prepayment shall be made within five Business Days of the
Acceptance Date (or such later date as the Administrative Agent shall reasonably agree, given the time required to calculate the Applicable Price and determine the amount and holders of Qualifying Loans), without premium or penalty (and not subject
to Section 2.18), upon irrevocable notice (each an “Offered Voluntary Prepayment Notice”), delivered to the Administrative Agent no later than 1:00 P.M., New York City time, three Business Days prior to the date of such
Offered Voluntary Prepayment, which notice shall specify the date and amount of the Offered Voluntary Prepayment and the Applicable Price determined by the Administrative Agent. Upon receipt of any Offered Voluntary Prepayment Notice, the
Administrative Agent shall promptly notify each relevant Lender thereof. If any Offered Voluntary Prepayment Notice is given, the amount specified in such notice shall be due and payable to the applicable Lenders, subject to the Applicable Price on
the applicable Term Loans, on the date specified therein together with accrued interest (on the par principal amount) to but not including such date on the amount prepaid. 

(vi) Prior to the delivery of an Offered Voluntary Prepayment Notice, upon written notice to the Administrative Agent, (A) the Borrower
may withdraw its offer to make an Offered Voluntary Prepayment pursuant to any Offered Prepayment Option Notice and (B) any Lender may withdraw its offer to participate in any Offered Voluntary Prepayment pursuant to any Lender Participation
Notice. 
 (vii) To the extent not expressly provided for herein, each Offered Voluntary Prepayment shall be consummated pursuant to
reasonable procedures (including as to timing, rounding, minimum amounts, Type and Interest Periods and calculation of Applicable Price in accordance with Section 2.8(b)(iii) above) established by the Administrative Agent in consultation with
the Borrower. It is understood and agreed that the Borrower may employ a financial institution or other advisor (whether or not an affiliate of the Administrative Agent) to act as an arranger in connection with any Offered Voluntary Prepayment and,
in such event, the Administrative Agent agrees, subject to its internal agency policies, to provide such reasonable cooperation as may be requested by the Borrower in order to facilitate communications from such arranger to the Lenders and otherwise
to provide access to Lender Participation Notices. 
 (viii) Each of the Borrower and the Lenders acknowledges and agrees that Administrative
Agent may perform any and all of its duties under this Section 2.8(b) by itself or through any Affiliate of the Administrative Agent and expressly consents to any such delegation of duties by the Administrative Agent such Affiliate and the
performance of such delegated duties by such Affiliate. The exculpatory provisions pursuant to this Agreement shall apply to each Affiliate of the Administrative Agent and its respective activities in connection with any Offered Voluntary Prepayment
provided for in this Section 2.8 as well as activities of the Administrative Agent. Notwithstanding anything set forth herein, the Administrative Agent shall not be required to serve as the auction agent for, or have any other obligations to
participate in (other than mechanical administrative duties), or facilitate, any Offered Voluntary Prepayment unless it is reasonably satisfied with the terms and restrictions of such auction. 

2.9. Mandatory Prepayments. 

(a) If on any date the Borrower or any of its Subsidiaries shall receive Net Cash Proceeds from any Asset Sale or Recovery Event then, with
respect to an amount equal to 75% of such Net Cash Proceeds (“Allocated Proceeds”; provided that the Borrower or such Subsidiary may instead deem a portion of such Net Cash Proceeds equal to the first 75% of the Total Net
Proceeds to the Borrower or such Subsidiary from such Asset Sale or Recovery Event, when and as received, to be the Allocated Proceeds of such Asset Sale or Recovery Event), (i) if such Allocated Proceeds are not Reinvestment Proceeds, such
Allocated Proceeds shall be applied on the fifth Business Day after the date 

  
 -52- 

 
such proceeds are received toward the prepayment of the Term Loans or (ii) if such Allocated Proceeds are Reinvestment Proceeds, on each Reinvestment Prepayment Date, an amount equal to the
relevant Reinvestment Prepayment Amount shall be applied toward the prepayment of the Term Loans in the manner specified in Section 2.9(c); provided that, notwithstanding clauses (i) and (ii) above, to the extent that the terms
of the documentation for any First Lien Notes or Pre-Existing Debt that is secured on a pari passu basis with the Obligations under this Agreement require that a portion of such Allocated Proceeds be applied to purchase First Lien Notes or
Pre-Existing Debt pursuant to a mandatory offer to purchase such First Lien Notes or Pre-Existing Debt, such Allocated Proceeds may be applied to prepay Term Loans in accordance with Section 2.9(c) and purchase First Lien Notes and/or
Pre-Existing Debt on a pro rata basis based on the respective amounts of Term Loans and First Lien Notes and/or Pre-Existing Debt then outstanding. 

(b) If on any date the Borrower or any of its Subsidiaries shall receive Net Cash Proceeds from any Debt Incurrence Prepayment Event then with
respect to an amount equal to 100% of such Net Cash Proceeds shall be applied toward the prepayment of the Term Loans in the manner specified in Section 2.9(c). 

(c) The application of any amounts required to be applied to a prepayment of Term Loans pursuant to Section 2.9(a) shall be made on a
pro rata basis to each Class of Term Loans then outstanding (except to the extent that any Incremental Activation Notice for any Class of Incremental Term Loans or Extended Term Loans provide that such Incremental Term Loans or Extended Term
Loans shall participate on a lesser basis or not participate at all). The application of any amounts required to be applied to a prepayment of Term Loans pursuant to Section 2.9(b) shall be made, at the Borrower’s option (by notice to the
Administrative Agent), either (i) on a pro rata basis to each Class of Term Loans then outstanding or (ii) to the Term Loans of each Class selected by the Borrower. Amounts required to be applied to the prepayment of Term
Loans of any Class shall be applied first, to ABR Loans of such Class and, second, to Eurodollar Loans of such Class. Each prepayment of the Term Loans under this Section 2.9 shall be accompanied by accrued interest to the date of
such prepayment on the amount prepaid. 
 2.10. Conversion and Continuation Options. 

(a) The Borrower may elect from time to time to convert Eurodollar Loans of any Class to ABR Loans of such Class by giving the Administrative
Agent at least two Business Days’ prior irrevocable notice of such election, provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower may elect from
time to time to convert ABR Loans of any Class to Eurodollar Loans of such Class by giving the Administrative Agent irrevocable notice of such election no later than 1:00 P.M. New York City time, on the third Business Day prior to the proposed
conversion date (which notice shall specify the length of the initial Interest Period therefor), provided that no ABR Loan may be converted into a Eurodollar Loan when any Event of Default has occurred and is continuing. Upon receipt of any
such notice the Administrative Agent shall promptly notify each relevant Lender thereof. 
 (b) Any Eurodollar Loan may be continued as such
by the Borrower giving irrevocable notice to the Administrative Agent at least three Business Days prior to the expiration of the then current Interest Period, in accordance with the applicable provisions of the term “Interest Period” set
forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans, provided that (i) if so required by the Administrative Agent, no Eurodollar Loan may be continued as such when any Event of Default has
occurred and is continuing and (ii) if the Borrower shall fail to give any required notice as described above in this paragraph, the relevant Eurodollar Loans shall be automatically converted to Eurodollar Loans having a one-month Interest
Period on the last day of the then expiring Interest Period. Upon receipt of any such notice, the Administrative Agent shall promptly notify each relevant Lender thereof. 

  
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 2.11. Limitations on Eurodollar Tranches. Notwithstanding anything to the contrary in
this Agreement, all borrowings, conversions and continuations of Eurodollar Loans hereunder and all selections of Interest Periods hereunder shall be in such amounts and be made pursuant to such elections so that, (a) after giving effect
thereto, the aggregate principal amount of the Eurodollar Loans comprising each Eurodollar Tranche shall be equal to $10,000,000 or a whole multiple of $1,000,000 in excess thereof and (b) no more than fifteen Eurodollar Tranches shall be
outstanding at any one time. 
 2.12. Interest Rates and Payment Dates. 

(a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the
Eurodollar Rate determined for such day plus the Applicable Margin. 
 (b) Each ABR Loan shall bear interest at a rate per annum equal to the
ABR plus the Applicable Margin. 
 (c) (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be
paid when due (whether at the stated maturity, by acceleration or otherwise), all outstanding Loans and Reimbursement Obligations (whether or not overdue) shall bear interest at a rate per annum equal to (x) in the case of the Loans, the rate
that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the Applicable Margins (based on the Revolving Percentages of the Revolving Lenders
in such Reimbursement Obligations) for ABR Loans under the Revolving Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder
shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to ABR Loans of the relevant Class (and, in the case of the
amount payable to any Revolving Lender, based on the Applicable Margins then in effect for such Revolving Lender’s Revolving Commitments) plus 2% (or, in the case of any such other amounts that do not relate to a particular Class, the
rate then applicable to ABR Loans under the Revolving Facility (based on the highest Applicable Margins then in effect for any Revolving Commitments) plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date
of such non-payment until such amount is paid in full (as well after as before judgment). 
 (d)
Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand. 

2.13. Computation of Interest and Fees. 

(a) Interest and fees payable pursuant hereto shall be calculated on the basis of a 360-day year for the actual days elapsed, except that, with
respect to ABR Loans, the interest thereon shall be calculated on the basis of a 365- (or 366-, as the case may be) day year for the actual days elapsed. The Administrative Agent shall as soon as practicable notify the Borrower and the relevant
Lenders of each determination of a Eurodollar Rate. Any change in the interest rate on a Loan resulting from a change in the ABR or the Eurocurrency Reserve Requirements shall become effective as of the opening of business on the day on which such
change becomes effective. The Administrative Agent shall as soon as practicable notify the Borrower and the relevant Lenders of the effective date and the amount of each such change in interest rate. 

  
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 (b) Each determination of an interest rate by the Administrative Agent pursuant to any
provision of this Agreement shall be conclusive and binding on the Borrower and the Lenders in the absence of manifest error. The Administrative Agent shall, at the request of the Borrower, deliver to the Borrower a statement showing the quotations
used by the Administrative Agent in determining any interest rate pursuant to Section 2.12(a). 
 2.14. Inability to Determine
Interest Rate. If prior to the first day of any Interest Period: 
 (a) the Administrative Agent shall have determined
(which determination shall be conclusive and binding upon the Borrower) that, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining the Eurodollar Rate for such Interest Period, or 

(b) the Administrative Agent shall have received notice from the Majority Facility Lenders in respect of any Class of Loans
that the Eurodollar Rate determined or to be determined for such Interest Period will not adequately and fairly reflect the cost to such Lenders (as conclusively certified by such Lenders) of making or maintaining their affected Loans during such
Interest Period, 
 the Administrative Agent shall give telecopy or telephonic notice thereof to the Borrower and the relevant Lenders as soon as
practicable thereafter. If such notice is given, (x) any Eurodollar Loans of the relevant Class requested to be made on the first day of such Interest Period shall be made as ABR Loans, (y) any Loans of the relevant Class that were to have
been converted on the first day of such Interest Period to Eurodollar Loans shall be continued as ABR Loans and (z) any outstanding Eurodollar Loans of the relevant Class shall be converted, on the last day of the then-current Interest Period,
to ABR Loans. Until such notice has been withdrawn by the Administrative Agent, no further Eurodollar Loans of the relevant Class shall be made or continued as such, nor shall the Borrower have the right to convert Loans of the relevant Class to
Eurodollar Loans. 
 Notwithstanding anything to the contrary in this Agreement or any other Loan Documents, if the Administrative Agent
determines (which determination shall be conclusive absent manifest error), or the Borrower or Required Lenders notify the Administrative Agent (with, in the case of the Required Lenders, a copy to Borrower) that the Borrower or Required Lenders (as
applicable) have determined, that: 
  

	 	(i)	 adequate and reasonable means do not exist for ascertaining the LIBOR Screen Rate for any requested Interest
Period, including, without limitation, because the LIBOR Screen Rate is not available or published on a current basis and such circumstances are unlikely to be temporary; or 

 

	 	(ii)	 the administrator of the LIBOR Screen Rate or a Governmental Authority having jurisdiction over the
Administrative Agent has made a public statement identifying a specific date after which the Eurodollar Base Rate or the LIBOR Screen Rate shall no longer be made available, or used for determining the interest rate of loans (such specific date, the
“Scheduled Unavailability Date”), or 

  
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	 	(iii)	 syndicated loans currently being executed, or that include language similar to that contained in this Section,
are being executed or amended (as applicable) to incorporate or adopt a new benchmark interest rate to replace the Eurodollar Base Rate, 

then, reasonably promptly after such determination by the Administrative Agent or receipt by the Administrative Agent of such notice, as applicable, the
Administrative Agent and the Borrower may amend this Agreement to replace the Eurodollar Base Rate with an alternate benchmark rate (including any mathematical or other adjustments to the benchmark (if any) incorporated therein), giving due
consideration to any evolving or then existing convention for similar U.S. dollar denominated syndicated credit facilities for such alternative benchmarks (any such proposed rate, a “LIBOR Successor Rate”),together with any agreed
LIBOR Successor Rate Conforming Changes and any such amendment shall become effective at 5:00 p.m. (New York time) on the fifth Business Day after the Administrative Agent shall have posted such proposed amendment to all Lenders and the Borrower
unless, prior to such time, Lenders comprising the Required Lenders have delivered to the Administrative Agent written notice that such Required Lenders do not accept such amendment. 

Further, and notwithstanding anything to the contrary in the foregoing paragraph, the Borrower and the Required Lenders may upon not less than
25 Business Days’ prior written notice (or such shorter notice period as to which the Administrative Agent may consent) to the Administrative Agent select a different LIBOR Successor Rate as long as it is practicable for the Administrative
Agent to administer such different rate (such practicability being determined by the Administrative Agent in its reasonable discretion). 

If no LIBOR Successor Rate has been determined and the circumstances under clause (i) above exist or the Scheduled Unavailability Date
has occurred (as applicable), the Administrative Agent will promptly so notify the Borrower and each Lender. Thereafter, the obligation of the Lenders to make or maintain Eurodollar Loans shall be suspended, (to the extent of the affected
Eurodollar Loans or Interest Periods until a LIBOR Successor Rate has been determined). Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Eurodollar Rate Loans (to the
extent of the affected Eurodollar Rate Loans or Interest Periods) or, failing that, will be deemed to have converted such request into a request for a Notice of Borrowing of ABR Loans in the amount specified therein. 

2.15. Pro Rata Treatment and Payments. 

(a) Except for payments pursuant to Section 2.8(b) (which shall reduce only all installments of principal on the Term Loans prepaid), the
amount of each principal prepayment of Term Loans of any Class shall be applied to reduce the then remaining installments of principal of such Class on a pro rata basis based upon the then remaining principal amount of such installments. Amounts
repaid or prepaid on account of the Term Loans may not be reborrowed. 
 (b) All payments (including prepayments) to be made by the Borrower
hereunder, whether on account of principal, interest, fees or otherwise, shall be made without setoff or counterclaim and shall be made prior to 1:00 P.M., New York City time, on the due date thereof to the Administrative Agent, for the account of
the applicable Lenders, at the Funding Office, in Dollars and in immediately available funds. The Administrative Agent shall distribute such payments to the Lenders entitled thereto promptly upon receipt in like funds as received. If at any time
insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal, Reimbursement Obligations, interest, fees and other amounts then due and payable by the Borrower hereunder, such funds shall be
applied (i) first, towards payment of interest and fees then due hereunder, ratably among the parties 

  
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entitled thereto in accordance with the amounts of interest and fees then due to such parties, and (ii) second, towards payment of principal and Reimbursement Obligations then due
hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal and Reimbursement Obligations then due to such parties, and (iii) third, towards the payment of all other amounts then due hereunder,
ratably among the parties entitled thereto in accordance with the amount of such amounts then due to such parties. If any payment hereunder (other than payments on the Eurodollar Loans) becomes due and payable on a day other than a Business Day,
such payment shall be extended to the next succeeding Business Day. If any payment on a Eurodollar Loan becomes due and payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day unless the
result of such extension would be to extend such payment into another calendar month, in which event such payment shall be made on the immediately preceding Business Day. In the case of any extension of any payment of principal pursuant to the
preceding two sentences, interest thereon shall be payable at the then applicable rate during such extension. 
 (c) Unless the
Administrative Agent shall have been notified in writing by any Lender prior to a borrowing that such Lender will not make the amount that would constitute its share of such borrowing available to the Administrative Agent, the Administrative Agent
may assume that such Lender is making such amount available to the Administrative Agent, and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower a corresponding amount. If such amount is not made available
to the Administrative Agent by the required time on the Borrowing Date therefor, such Lender shall pay to the Administrative Agent, on demand, such amount with interest thereon at a rate equal to the greater of (i) the daily average Federal
Funds Effective Rate for the period until such Lender makes such amount immediately available to the Administrative Agent and (ii) a rate determined by the Administrative Agent in accordance with banking industry rules on interbank
compensation. A certificate of the Administrative Agent submitted to any Lender with respect to any amounts owing under this paragraph shall be conclusive in the absence of manifest error. If such Lender’s share of such borrowing is not made
available to the Administrative Agent by such Lender within three Business Days of such Borrowing Date, the Administrative Agent shall also be entitled to recover such amount with interest thereon at the rate per annum applicable to ABR Loans of the
relevant Class, on demand, from the Borrower. Nothing in this paragraph shall be deemed to limit the rights of the Administrative Agent or the Borrower against any Lender. 

(d) Unless the Administrative Agent shall have been notified in writing by the Borrower prior to the date of any payment being made hereunder
that the Borrower will not make such payment to the Administrative Agent, the Administrative Agent may assume that the Borrower is making such payment, and the Administrative Agent may, but shall not be required to, in reliance upon such assumption,
make available to the Lenders their respective shares of a corresponding amount. If such payment is not made to the Administrative Agent by the Borrower within three Business Days of such required date, the Administrative Agent shall be entitled to
recover, on demand, from each Lender to which any amount which was made available pursuant to the preceding sentence, such amount with interest thereon at the rate per annum equal to the daily average Federal Funds Effective Rate. Nothing herein
shall be deemed to limit the rights of the Administrative Agent or any Lender against the Borrower. 
 (e) If any Lender makes available to
the Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing provisions of this Section 2, and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the
applicable Loan set forth in Section 5.2 are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest. 

  
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 2.16. Requirements of Law. 

(a) If any Change in Law: 

(i) shall subject any Lender (including any Issuing Lender) to any tax of any kind whatsoever with respect to this Agreement,
any Letter of Credit, any Application or any Eurodollar Loan made by it, or change the basis of taxation of payments to such Lender in respect thereof (except for Non-Excluded Taxes covered by Section 2.17 and changes in the rate of tax on the
overall net income of such Lender); 
 (ii) shall impose, modify or hold applicable any reserve, special deposit, compulsory
loan or similar requirement against assets held by, deposits or other liabilities in or for the account of, advances, loans or other extensions of credit by, or any other acquisition of funds by, any office of such Lender that is not otherwise
included in the determination of the Eurodollar Rate hereunder; or 
 (iii) shall impose on such Lender or Issuing Lender any
other condition; 
 and the result of any of the foregoing is to increase the cost to such Lender or Issuing Lender, by an amount that such Lender or
Issuing Lender deems to be material, of making, converting into, continuing or maintaining Eurodollar Loans or issuing or participating in Letters of Credit, or to reduce any amount receivable hereunder in respect thereof, then, in any such case,
the Borrower shall promptly pay such Lender or Issuing Lender, upon its demand, any additional amounts necessary to compensate such Lender for such increased cost or reduced amount receivable. The Borrower shall not be required to compensate any
Lender for any claim of increased costs to such Lender of agreeing to make or making, funding or maintaining any Loans from the adoption of an alternate rate of interest pursuant to Section 2.14. If any Lender or Issuing Lender becomes entitled
to claim any additional amounts pursuant to this paragraph, it shall promptly notify the Borrower (with a copy to the Administrative Agent) of the event by reason of which it has become so entitled. 

(b) If any Lender or Issuing Lender shall have determined that any Change in Law regarding capital adequacy or in the interpretation or
application thereof or compliance by such Lender or any corporation controlling such Lender therewith shall have the effect of reducing the rate of return on such Lender’s or Issuing Lender’s or such corporation’s capital as a
consequence of its obligations hereunder or under or in respect of any Letter of Credit to a level below that which such Lender or Issuing Lender or such corporation could have achieved but for such Change in Law (taking into consideration such
Lender’s or Issuing Lender’s or such corporation’s policies with respect to capital adequacy) by an amount deemed by such Lender or Issuing Lender to be material, then from time to time, after submission by such Lender or Issuing
Lender to the Borrower (with a copy to the Administrative Agent) of a written request therefor, the Borrower shall pay to such Lender such additional amount or amounts as will compensate such Lender or Issuing Lender for such reduction;
provided that the Borrower shall not be required to compensate a Lender or Issuing Lender pursuant to this paragraph for any amounts incurred more than six months prior to the date that such Lender or Issuing Lender notifies the Borrower of
such Lender’s or Issuing Lender’s intention to claim compensation therefor; and provided further that, if the circumstances giving rise to such claim have a retroactive effect, then such six-month period shall be extended to
include the period of such retroactive effect. 
 (c) A certificate as to any additional amounts payable pursuant to this Section submitted
by any Lender or Issuing Lender to the Borrower (with a copy to the Administrative Agent) shall be conclusive in the absence of manifest error. The obligations of the Borrower pursuant to this Section shall survive the termination of this Agreement
and the payment of the Loans and all other amounts payable hereunder. 
  

  
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 2.17. Taxes. 

(a) All payments made by the Borrower under this Agreement shall be made free and clear of, and without deduction or withholding for or on
account of, any present or future income, stamp or other taxes, levies, imposts, duties, charges, fees, deductions or withholdings, now or hereafter imposed, levied, collected, withheld or assessed by any Governmental Authority, excluding net income
taxes and franchise taxes (imposed in lieu of net income taxes) imposed on the Administrative Agent or any Lender as a result of a present or former connection between the Administrative Agent or such Lender and the jurisdiction of the Governmental
Authority imposing such tax or any political subdivision or taxing authority thereof or therein (other than any such connection arising solely from the Administrative Agent or such Lender having executed, delivered or performed its obligations or
received a payment under, or enforced, this Agreement or any other Loan Document), and excluding any U.S. federal withholding Taxes under FATCA imposed on the Administrative Agent or any Lender. If any such non-excluded taxes, levies, imposts,
duties, charges, fees, deductions or withholdings (“Non-Excluded Taxes”) or Other Taxes are required to be withheld from any amounts payable to the Administrative Agent or any Lender hereunder, the amounts so payable to the
Administrative Agent or such Lender shall be increased to the extent necessary to yield to the Administrative Agent or such Lender (after payment of all Non-Excluded Taxes and Other Taxes) interest or any such other amounts payable hereunder at the
rates or in the amounts specified in this Agreement, provided, however, that the Borrower shall not be required to increase any such amounts payable to any Lender with respect to any Non-Excluded Taxes (i) that are attributable to
such Lender’s failure to comply with the requirements of paragraph (d) or (e) of this Section or (ii) that are United States withholding taxes imposed on amounts payable to such Lender at the time the Lender becomes a party to
this Agreement, except to the extent that such Lender’s assignor (if any) was entitled, at the time of assignment, to receive additional amounts from the Borrower with respect to such Non-Excluded Taxes pursuant to this paragraph. 

(b) In addition, the Borrower shall pay any Other Taxes to the relevant Governmental Authority in accordance with applicable law. 

(c) Whenever any Non-Excluded Taxes or Other Taxes are payable by the Borrower, as promptly as possible thereafter the Borrower shall send to
the Administrative Agent for its own account or for the account of the relevant Lender, as the case may be, a certified copy of an original official receipt received by the Borrower showing payment thereof. If the Borrower fails to pay any
Non-Excluded Taxes or Other Taxes when due to the appropriate taxing authority or fails to remit to the Administrative Agent the required receipts or other required documentary evidence, the Borrower shall indemnify the Administrative Agent and the
Lenders for any incremental taxes, interest or penalties that may become payable by the Administrative Agent or any Lender as a result of any such failure. 

(d) Each Lender (or Transferee) that is not a “U.S. Person” as defined in Section 7701(a)(30) of the Code (a “Non-U.S.
Lender”) shall deliver to the Borrower and the Administrative Agent (or, in the case of a Participant, to the Lender from which the related participation shall have been purchased) two copies of either U.S. Internal Revenue Service Form
W-8BEN or Form W-8ECI, or, in the case of a Non-U.S. Lender claiming exemption from U.S. federal withholding tax under Section 871(h) or 881(c) of the Code with respect to payments of “portfolio interest”, a statement substantially in
the form of Exhibit C and a Form W-8BEN, or any subsequent versions thereof or successors thereto, properly completed and duly executed by such Non-U.S. Lender claiming complete exemption from U.S. federal withholding tax on all payments by the
Borrower under this Agreement and the other Loan 

  
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Documents. Such forms shall be delivered by each Non-U.S. Lender on or before the date it becomes a party to this Agreement (or, in the case of any Participant, on or before the date such
Participant purchases the related participation). In addition, each Non-U.S. Lender shall deliver such forms promptly upon the obsolescence or invalidity of any form previously delivered by such Non-U.S. Lender. Each Non-U.S. Lender shall promptly
notify the Borrower at any time it determines that it is no longer in a position to provide any previously delivered certificate to the Borrower (or any other form of certification adopted by the U.S. taxing authorities for such purpose). The
inability of a Non-U.S. Lender (or a Transferee) to deliver any form pursuant to this Section 2.17(d) as a result of a change in law after the date such Lender (or a Transferee) becomes a Lender (or a Transferee) hereunder or as a result of a
change in circumstances of the Borrower or the use of proceeds of such Lender’s (or Transferee’s) Loans shall not constitute a failure to comply with this Section 2.17(d) and accordingly the indemnities to which such Person is
entitled pursuant to this Section 2.17 shall not be affected as a result of such inability. If a Lender (or Transferee) as to which the preceding sentence does not apply is unable to deliver any form pursuant to this Section 2.17(d), the
sole consequence of such failure to deliver as a result of such inability shall be that the indemnity described in Section 2.17(a) hereof for any Non-Excluded Taxes shall not be available to such Lender or Transferee with respect to the period
that would otherwise be covered by such form. 
 (e) A Lender that is entitled to an exemption from non-U.S. withholding tax under the law of
the jurisdiction in which the Borrower is located, or any treaty to which such jurisdiction is a party, with respect to payments under this Agreement shall deliver to the Borrower (with a copy to the Administrative Agent), at the time or times
prescribed by applicable law or reasonably requested by the Borrower, such properly completed and executed documentation prescribed by applicable law as will permit such payments to be made without withholding, provided that such Lender is
legally entitled to complete, execute and deliver such documentation and in such Lender’s judgment such completion, execution or submission would not materially prejudice the legal position of such Lender. 

(f) Any Lender (or Transferee) claiming any indemnity payment or additional amounts payable pursuant to Section 2.17(a) shall use
reasonable efforts (consistent with legal and regulatory restrictions) to file any certificate or document reasonably requested in writing by the Borrower if the making of such a filing would avoid the need for or reduce the amount of any such
indemnity payment or additional amounts that may thereafter accrue. 
 (g) If a payment made to a Lender under any Loan Document would be
subject to U.S. federal withholding tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender
shall deliver to the Borrower and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by applicable law (including
as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative 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 (D), “FATCA”
shall include any amendments made to FATCA after the date of this Agreement. 
 (h) The agreements in this Section shall survive the
termination of this Agreement and the payment of the Loans and all other amounts payable hereunder. 

  
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 2.18. Indemnity. The Borrower agrees to indemnify each Lender and to hold each Lender
harmless from any loss or expense that such Lender may sustain or incur as a consequence of (a) default by the Borrower in making a borrowing of, conversion into or continuation of Eurodollar Loans after the Borrower has given a notice
requesting the same in accordance with the provisions of this Agreement, (b) default by the Borrower in making any prepayment of or conversion from Eurodollar Loans after the Borrower has given a notice thereof in accordance with the provisions
of this Agreement or (c) the making of a scheduled amortization payment or prepayment of Eurodollar Loans on a day that is not the last day of an Interest Period with respect thereto. Such indemnification may include an amount equal to the
excess, if any, of (i) the amount of interest that would have accrued on the amount so prepaid, or not so borrowed, converted or continued, for the period from the date of such prepayment or of such failure to borrow, convert or continue to the
last day of such Interest Period (or, in the case of a failure to borrow, convert or continue, the Interest Period that would have commenced on the date of such failure) in each case at the applicable rate of interest for such Loans provided for
herein (excluding, however, the Applicable Margin included therein, if any) over (ii) the amount of interest (as reasonably determined by such Lender) that would have accrued to such Lender on such amount by placing such amount on
deposit for a comparable period with leading banks in the interbank eurodollar market; provided that such calculation may not take into account any Eurodollar “floor”. A certificate as to any amounts payable pursuant to this Section
submitted to the Borrower by any Lender shall be conclusive in the absence of manifest error. This covenant shall survive the termination of this Agreement and the payment of the Loans and all other amounts payable hereunder. 

2.19. Change of Lending Office. Each Lender agrees that, upon the occurrence of any event giving rise to the operation of
Section 2.16 or 2.17(a) with respect to such Lender, it will, if requested by the Borrower, use reasonable efforts (subject to overall policy considerations of such Lender) to designate another lending office for any Loans affected by such
event with the object of avoiding the consequences of such event; provided, that such designation is made on terms that, in the sole judgment of such Lender, cause such Lender and its lending office(s) to suffer no economic, legal or
regulatory disadvantage, and provided, further, that nothing in this Section shall affect or postpone any of the obligations of any Borrower or the rights of any Lender pursuant to Section 2.16 or 2.17(a). 

2.20. Replacement of Lenders. The Borrower shall be permitted to replace any Lender that (a) requests reimbursement for amounts
owing pursuant to Section 2.16 or 2.17(a) or (b) becomes a Defaulting Lender, with a replacement financial institution; provided that (i) such replacement does not conflict with any Requirement of Law, (ii) no Event of
Default shall have occurred and be continuing at the time of such replacement, (iii) in the case of clause (a), prior to any such replacement, such Lender shall have taken no action under Section 2.19 which has eliminated the continued
need for payment of amounts owing pursuant to Section 2.16 or 2.17(a), (iv) the replacement financial institution shall purchase, at par, all Loans and other amounts owing to such replaced Lender on or prior to the date of replacement,
(v) the Borrower shall be liable to such replaced Lender under Section 2.18 if any Eurodollar Loan owing to such replaced Lender shall be purchased other than on the last day of the Interest Period relating thereto, (vi) the
replacement financial institution, if not already a Lender, shall be reasonably satisfactory to the Administrative Agent (and, if a Revolving Commitment is being assigned, such replacement financial institution, if not previously a Revolving Lender
that is not a Defaulting Lender, shall be reasonably satisfactory to the Administrative Agent and each Issuing Lender), (vii) the replaced Lender shall be obligated to make such replacement in accordance with the provisions of Section 10.6
(provided that the Borrower shall be obligated to pay the registration and processing fee referred to therein), (viii) until such time as such replacement shall be consummated, the Borrower shall pay all additional amounts (if any) required
pursuant to Section 2.16 or 2.17(a), as the case may be, and (ix) any such replacement shall not be deemed to be a waiver of any rights that the Borrower, the Agents or any other Lender shall have against the replaced Lender. 

  
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 In the event that any Lender (a “Non-Consenting Lender”) fails to consent
to any proposed amendment, modification, termination, waiver or consent with respect to any provision hereof or of any other Loan Document that requires the unanimous approval of all of the Lenders or the approval of all of the Lenders directly
affected thereby, in each case in accordance with the terms of Section 10.1, the Borrower shall be permitted to replace such Non-Consenting Lender with a replacement financial institution satisfactory to the Administrative Agent (if such
replacement financial institution was not already a Lender) and, if such replacement involves the assignment of a Revolving Commitment to a Person other than a Revolving Lender that is not a Defaulting Lender, the Administrative Agent and each
Issuing Lender, so long as the consent of the Required Lenders shall have been obtained with respect to such amendment, modification, termination, waiver or consent; provided that (i) such replacement does not conflict with any
applicable law, treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, (ii) the replacement financial institution shall purchase, at par, all Loans and other amounts owing to the Non-Consenting
Lender pursuant to the Loan Documents on or prior to the date of replacement, (iii) the replacement financial institution shall approve the proposed amendment, modification, termination, waiver or consent, (iv) the Borrower shall be liable
to the Non-Consenting Lender under Section 2.18 if any Eurodollar Loan owing to the Non-Consenting Lender shall be purchased other than on the last day of the Interest Period relating thereto, (v) the Non-Consenting Lender shall be
obligated to make such replacement in accordance with the provisions of Section 10.6(c) (provided that the Borrower shall be obligated to pay the registration and processing fee referred to therein), (vi) until such time as such
replacement shall be consummated, the Borrower shall pay to the Non-Consenting Lender all additional amounts (if any) required pursuant to Section 2.16, 2.17 or 2.18, as the case may be, (vii) the Borrower provides at least three Business
Days’ prior notice to the Non-Consenting Lender, and (viii) any such replacement shall not be deemed to be a waiver of any rights that the Borrower, the Administrative Agent or any other Lender shall have against the Non-Consenting Lender.
In the event any Non-Consenting Lender fails to execute the agreements required under Section 10.6 in connection with an assignment pursuant to this Section 2.20, the Borrower may, upon two Business Days’ prior notice to the
Non-Consenting Lender, execute such agreements on behalf of the Non-Consenting Lender. 
 2.21. Defaulting Lenders. 

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

(i) Reallocation of Payments. Any payment of principal, interest, fees or other amounts received by the Administrative
Agent for the account of that Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Section 8.2 or otherwise, and including any amounts made available to the Administrative Agent by that Defaulting Lender pursuant to
Section 10.7), shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by that Defaulting Lender to the Administrative Agent hereunder; second,
to the payment on a pro rata basis of any amounts owing by that Defaulting Lender to each Issuing Lender and Swingline Lender hereunder; third, if so determined by the Administrative Agent or requested by an Issuing Lender or Swingline
Lender, to be held as Cash Collateral for future funding obligations of that Defaulting Lender of any participation in any Swingline Loan or Letter of Credit based upon the Fronting Exposure arising from that Defaulting Lender; fourth, as the
Borrower may request (so long as no Default or Event of Default exists), to the funding of any Revolving Loan in respect of which that Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the
Administrative Agent; fifth, if so determined by the Administrative Agent and 

  
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the Borrower, to be held in a non-interest bearing deposit account and released in order to satisfy obligations of that Defaulting Lender to fund Revolving Loans under this Agreement;
sixth, to the payment of any amounts owing to the Lenders, the Issuing Lender or Swingline Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender, the Issuing Lender or Swingline Lender against that
Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrower as a result of any
judgment of a court of competent jurisdiction obtained by the Borrower against that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to that Defaulting Lender or as
otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Loans or any unreimbursed drawing under any Letter of Credit in respect of which that Defaulting
Lender has not fully funded its appropriate share and (y) such Loans were made or Letters of Credit were issued at a time when the conditions set forth in Section 5.2 were satisfied or waived, such payment shall be applied solely to pay
the Loans of, and unreimbursed drawings under Letters of Credit owed to, all non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or unreimbursed drawings under Letters of Credit owed to, that Defaulting
Lender. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.21(a)(i) shall be deemed paid
to and redirected by that Defaulting Lender, and each Lender irrevocably consents hereto. 
 (ii) Certain Fees. That
Defaulting Lender (x) shall not be entitled to receive any commitment fee pursuant to Section 2.6(a) for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise
would have been required to have been paid to that Defaulting Lender during such period) (and the Borrower shall (A) be required to pay to each applicable Issuing Lender and the Swingline Lender, as applicable, the amount of such fee allocable
to its Fronting Exposure arising from that 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 that Defaulting Lender, in each case, during such period
that such Lender is a Defaulting Lender) and (y) shall be limited in its right to receive fees in respect of Letters of Credit as provided in Section 3.3(a). 

(iii) Reallocation of Revolving Percentages to Reduce Fronting Exposure. During any period in which there is a
Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swingline Loans pursuant to Sections 2.5 and 3.4, the “Revolving
Percentage” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender (but subject to the other limitations contained in the definition of Revolving Percentage relating to Later
Expiring Letters of Credit); provided, that (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate
obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swingline Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender
minus (2) the aggregate outstanding amount of the Revolving Loans of that Lender. Subject to Section 10.19, no
reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of
such Non-Defaulting Lender’s increased exposure following such reallocation. 

  
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 (b) Defaulting Lender Cure. If the Borrower, the Administrative Agent, Swingline
Lender and each Issuing Lender agree in writing in their sole discretion that a Defaulting Lender no longer falls under the definition of Defaulting Lender, the Administrative Agent will so notify the Revolving Lenders, whereupon as of the effective
date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any Cash Collateral), that Lender will, to the extent applicable, purchase at par that portion of outstanding Revolving Loans of the other Lenders or take such
other actions as the Administrative Agent may determine to be necessary to cause the Revolving Loans and funded and unfunded participations in Letters of Credit and Swingline Loans to be held on a pro rata basis by the Revolving Lenders in
accordance with their Revolving Percentages (without giving effect to Section 2.21(a)(iii) but giving effect to the other limitations set forth in the definition of Revolving Percentage relating to Later Expiring Letters of Credit), whereupon
that Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and
provided, further, that except to the extent otherwise expressly agreed by the affected parties or except as provided in Section 10.19, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of
any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. 
 2.22. Obligations of Lenders
Several. The obligations of the Lenders hereunder to make Term Loans and Revolving Loans, to fund participations in Letters of Credit and Swingline Loans, as applicable, and to make payments pursuant to Section 9.7 are several and not
joint. The failure of any Lender to make any Loan, to fund any such participation or to make any payment under Section 9.7 on any date required hereunder shall not relieve any other Lender of its corresponding obligation (if any) to do so on
such date, and no Lender shall be responsible for the failure of any other Lender to so make its Loan, to purchase its participation or to make its payment under Section 9.7. 

2.23. Permitted Debt Exchanges. 

(a) Notwithstanding anything to the contrary contained in this Agreement, pursuant to one or more offers (each, a “Permitted Debt
Exchange Offer”) made from time to time by the Borrower to all Lenders (other than, with respect to any Permitted Debt Exchange Offer that constitutes an offering of securities, any Lender that (A) if requested by the Borrower, is
unable to certify that it is (i) a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act), (ii) an institutional “accredited investor” (as defined in Rule 501 under the Securities Act) or
(iii) not a “U.S. person” (as defined in Rule 902 under the Securities Act) or (B) is not legally permitted to own or hold securities) with outstanding Term Loans of a particular Class, the Borrower may from time to time
consummate one or more exchanges of such Term Loans for Indebtedness (in the form of senior secured, senior unsecured, senior subordinated, or subordinated notes or loans) (such Indebtedness, “Permitted Debt Exchange Notes” and each
such exchange, a “Permitted Debt Exchange”), so long as the following conditions are satisfied: 
 (i) each
such Permitted Debt Exchange Offer shall be made on a pro rata basis to the Term Lenders (other than, with respect to any Permitted Debt Exchange Offer that constitutes an offering of securities, any Lender that (A) if requested by the
Borrower, is unable to certify that it is (i) a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act), (ii) an institutional “accredited investor” (as defined in Rule 501 under the
Securities Act) or (iii) not a “U.S. person” (as defined in Rule 902 under the Securities Act) or (B) is not legally permitted to own or hold securities) of each applicable Class based on their respective aggregate principal
amounts of outstanding Term Loans under each such Class; 

  
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 (ii) the aggregate principal amount (calculated on the face amount thereof)
of such Permitted Debt Exchange Notes shall not exceed the aggregate principal amount (calculated on the face amount thereof) of Term Loans so refinanced, except by an amount equal to any fees, expenses, commissions, underwriting discounts and
premiums payable in connection with such Permitted Debt Exchange; 
 (iii) the stated final maturity of such Permitted Debt
Exchange Notes is not earlier than the Term Maturity Date for the Class or Classes of Term Loans being exchanged, and such stated final maturity is not subject to any conditions that could result in such stated final maturity occurring on a date
that precedes such Term Maturity Date (it being understood that acceleration or mandatory repayment, prepayment, redemption or repurchase of such Permitted Debt Exchange Notes upon the occurrence of an event of default, a change in control, an event
of loss or an asset disposition shall not be deemed to constitute a change in the stated final maturity thereof); 
 (iv)
such Permitted Debt Exchange Notes are not required to be repaid, prepaid, redeemed, repurchased or defeased, whether on one or more fixed dates, upon the occurrence of one or more events or at the option of any holder thereof (except, in each case,
upon the occurrence of an event of default, a change in control, an event of loss or an asset disposition) prior to the Term Maturity Date for the Class or Classes of Term Loans being exchanged, provided that, notwithstanding the foregoing,
scheduled amortization payments (however denominated, including scheduled offers to repurchase) of such Permitted Debt Exchange Notes shall be permitted so long as the Weighted Average Life to Maturity of such Indebtedness shall be longer than the
remaining Weighted Average Life to Maturity of the Class or Classes of Term Loans being exchanged; 
 (v) no Subsidiary is a
borrower or guarantor with respect to such Indebtedness unless such Subsidiary is a Subsidiary Guarantor which shall have previously or substantially concurrently guaranteed the Obligations; 

(vi) if such Permitted Debt Exchange Notes are secured (A) such Permitted Debt Exchange Notes are not secured by any
assets not securing the Obligations under this Agreement unless such assets substantially concurrently secure the Obligations under this Agreement and (B) the beneficiaries thereof (or an agent on their behalf) shall have (1) become party
to a First Lien Intercreditor Agreement pursuant to the terms thereof or (2) entered into a customary intercreditor agreement with the Administrative Agent that is reasonably satisfactory to the Administrative Agent and the Borrower; 

(vii) the terms and conditions of such Permitted Debt Exchange Notes (excluding pricing and optional prepayment or redemption
terms or covenants or other provisions applicable only to periods after the Term Maturity Date of the Class or Classes of Term Loans being exchanged) reflect market terms and conditions at the time of incurrence or issuance; provided that if
such Permitted Debt Exchange Notes contain any financial maintenance covenants, such covenants shall not be tighter than (or in addition to) those contained in this Agreement (unless such covenants are also added for the benefit of the Lenders under
this Agreement, in which case any requirement to so comply shall not require the consent of any Lender or Agent hereunder); 

  
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 (viii) the aggregate principal amount (calculated on the face amount
thereof) of all Term Loans exchanged under each applicable Class by the Borrower pursuant to any Permitted Debt Exchange shall automatically be cancelled and retired by the Borrower on date of the settlement thereof (and, if requested by the
Administrative Agent, any applicable exchanging Lender shall execute and deliver to the Administrative Agent an Assignment and Assumption, or such other form as may be reasonably requested by the Administrative Agent, in respect thereof pursuant to
which the respective Lender assigns its interest in the Term Loans being exchanged pursuant to the Permitted Debt Exchange to the Borrower for immediate cancellation), and accrued and unpaid interest on such Term Loans shall be paid to the
exchanging Lenders on the date of consummation of such Permitted Debt Exchange, or, if agreed to by the Borrower and the Administrative Agent, the next scheduled Interest Payment Date with respect to such Term Loans (with such interest accruing
until the date of consummation of such Permitted Debt Exchange); 
 (ix) if the aggregate principal amount of all Term Loans
(calculated on the face amount thereof) of a given Class tendered by Lenders in respect of the relevant Permitted Debt Exchange Offer (with no Lender being permitted to tender a principal amount of Term Loans which exceeds the principal amount
thereof of the applicable Class actually held by it) shall exceed the maximum aggregate principal amount of Term Loans of such Class offered to be exchanged by the Borrower pursuant to such Permitted Debt Exchange Offer, then the Borrower shall
exchange Term Loans under the relevant Class tendered by such Lenders ratably up to such maximum based on the respective principal amounts so tendered, or, if such Permitted Debt Exchange Offer shall have been made with respect to multiple Classes
without specifying a maximum aggregate principal amount offered to be exchanged for each Class, and the aggregate principal amount of all Term Loans (calculated on the face amount thereof) of all Classes tendered by Lenders in respect of the
relevant Permitted Debt Exchange Offer (with no Lender being permitted to tender a principal amount of Term Loans which exceeds the principal amount thereof actually held by it) shall exceed the maximum aggregate principal amount of Term Loans of
all relevant Classes offered to be exchanged by the Borrower pursuant to such Permitted Debt Exchange Offer, then the Borrower shall exchange Term Loans across all Classes subject to such Permitted Debt Exchange Offer tendered by such Lenders
ratably up to such maximum amount based on the respective principal amounts so tendered; 
 (x) all documentation in respect
of such Permitted Debt Exchange shall be consistent with the foregoing, and all written communications generally directed to the Lenders in connection therewith shall be in form and substance consistent with the foregoing and made in consultation
with the Borrower and the Administrative Agent; and 
 (xi) any applicable Minimum Tender Condition or Maximum Tender
Condition, as the case may be, shall be satisfied or waived by the Borrower. 
 Notwithstanding anything to the contrary herein, no Lender shall have any
obligation to agree to have any of its Loans or Commitments exchanged pursuant to any Permitted Debt Exchange Offer. 
 (b) With respect to
all Permitted Debt Exchanges effected by the Borrower pursuant to this Section 2.17, such Permitted Debt Exchange Offer shall be made for not less than $25,000,000 in aggregate principal amount of Term Loans, provided that subject
to the foregoing the Borrower may at its election specify (A) as a condition (a “Minimum Tender Condition”) to consummating any such Permitted Debt Exchange that a minimum amount (to be determined and specified in the relevant
Permitted Debt Exchange Offer in the Borrower’s discretion) of Term Loans of any or all applicable Classes be tendered and/or (B) as a condition (a “Maximum Tender Condition”) to consummating any such Permitted Debt
Exchange that no more than a maximum amount (to be determined and specified in the relevant Permitted Debt Exchange Offer in the Borrower’s discretion) of Term Loans of any or all applicable Classes will be accepted for exchange. The
Administrative Agent and the Lenders hereby 

  
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acknowledge and agree that the provisions of Section 2.7, 2.8, 2.9 and 2.15 do not apply to the Permitted Debt Exchange and the other transactions contemplated by this Section 2.23 and
hereby agree not to assert any Default or Event of Default in connection with the implementation of any such Permitted Debt Exchange or any other transaction contemplated by this Section 2.23 provided that such implementations or such other
transactions are transactions are effectual in accordance with this Section 2.23. 
 (c) In connection with each Permitted Debt
Exchange, the Borrower shall provide the Administrative Agent at least five (5) Business Days’ (or such shorter period as may be agreed by the Administrative Agent) prior written notice thereof, and the Borrower and the Administrative
Agent, acting reasonably, shall mutually agree to such procedures as may be necessary or advisable to accomplish the purposes of this Section 2.23; provided that the terms of any Permitted Debt Exchange Offer shall provide that the date
by which the relevant Lenders are required to indicate their election to participate in such Permitted Debt Exchange shall be not less than five (5) Business Days following the date on which the Permitted Debt Exchange Offer is made. The
Borrower shall provide the final results of such Permitted Debt Exchange to the Administrative Agent no later than three (3) Business Days prior to the proposed date of effectiveness for such Permitted Debt Exchange (or such shorter period
agreed to by the Administrative Agent in its sole discretion) and the Administrative Agent shall be entitled to conclusively rely on such results. 

(d) The Borrower shall be responsible for compliance with, and hereby agrees to comply with, all applicable securities and other laws in
connection with each Permitted Debt Exchange, it being understood and agreed that (i) neither the Administrative Agent nor any Lender assumes any responsibility in connection with the Borrower’s compliance with such laws in connection with
any Permitted Debt Exchange and (ii) each Lender shall be solely responsible for its compliance with any applicable “insider trading” laws and regulations to which such Lender may be subject under the Exchange Act. 

SECTION 3 LETTERS OF CREDIT 
 3.1.
L/C Commitment. 
 (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other
Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit (“Letters of Credit”) for the account of the Borrower on any Business Day during a Revolving Commitment Period in such form as may be approved
from time to time by such Issuing Lender (it being understood that any commercial Letter of Credit shall provide for sight drafts and not bankers acceptances); provided that no Issuing Lender shall issue any Letter of Credit if, after giving effect
to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and
(ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is five Business Days prior to the then latest Revolving Termination Date, provided that any Letter of Credit with a
one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above). Each Existing Letter of Credit shall be deemed to be issued pursuant to this
Section 3.1(a) on the Restatement Effective Date. Notwithstanding the foregoing, the Borrower and any Issuing Lender may from time to time pursuant to a written agreement or any amendment thereto executed by the Borrower and such Issuing Lender
and delivered to the Administrative Agent, agree that such Issuing Lender shall not be required to issue a particular type of Letter of Credit and/or that the amount of Letters of Credit to be issued by such Issuing Lender shall be less than the
full amount of the L/C Commitment and/or different from the amount referenced in Section 3.1(b)(iii), in which case, such Issuing Lender shall not be required to issue any Letter of Credit to the extent such issuance would be inconsistent with
such agreement between the Borrower and such Issuing Lender. 

  
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 (b) No Issuing Lender shall be obligated to issue any Letter of Credit hereunder if: 

(i) such issuance would conflict with, or cause such Issuing Lender or any L/C Participant to exceed any limits imposed by, any
applicable Requirement of Law; 
 (ii) any Lender is at that time a Defaulting Lender, unless such Issuing Lender has entered
into arrangements, including, if requested, the delivery of Cash Collateral, reasonably satisfactory to the Issuing Lender with the Borrower or such Lender to eliminate such Issuing Lender’s actual or potential Fronting Exposure (after giving
effect to Section 2.21(a)(iii)) with respect to the Defaulting Lender arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other L/C Obligations as to which such Issuing Lender has actual or
potential Fronting Exposure, as it may elect in its sole discretion; 
 (iii) subject to the last sentence of
Section 3.1(a), if the aggregate amount of the L/C Obligations in respect of Letters of Credit issued by such Issuing Lender would exceed one-third (1/3) of the L/C Commitment; or 

(iv) the issuance thereof would otherwise conflict with any separate written agreement between the Borrower and such Issuing
Lender. 
 (c) Notwithstanding anything in this Agreement to the contrary, JPMorgan Chase Bank, N.A., shall not be under any obligation to
issue, amend or renew any Letter of Credit (including any Existing Letter of Credit) unless it otherwise agrees in its sole discretion. 

3.2. Procedure for Issuance of Letter of Credit. The Borrower may from time to time request that any Issuing Lender issue a Letter of
Credit by delivering to such Issuing Lender an Application therefor, completed to the satisfaction of such Issuing Lender, and such other certificates, documents and other papers and information as such Issuing Lender may request. Upon receipt of
any Application, the relevant Issuing Lender will process such Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall promptly issue
the Letter of Credit requested thereby (but in no event shall such Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days after its receipt of the Application therefor and all such other certificates,
documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed to by such Issuing Lender and the Borrower. The relevant Issuing Lender shall
furnish a copy of such Letter of Credit to the Borrower promptly following the issuance thereof. The relevant Issuing Lender shall promptly furnish to the Administrative Agent, which shall in turn promptly furnish to the Lenders, notice of the
issuance of each Letter of Credit (including the amount thereof). 
 3.3. Fees and Other Charges. 

(a) The Borrower will pay a fee for the benefit of each Revolving Lender on all outstanding Letters of Credit at a per annum rate equal to the
product of (i) the Applicable Margin then in effect with respect to Eurodollar Loans made pursuant to the Revolving Commitment of such Revolving Lender and (ii) such Revolving Lender’s daily Revolving Percentage of the undrawn and
unexpired amount of each Letters of Credit, payable quarterly in arrears on each L/C Fee Payment Date after the issuance date; provided, however, for the avoidance of doubt, any such fees otherwise payable for the 

  
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 account of a Defaulting Lender with respect to any Letter of Credit as to which such Defaulting Lender has
not provided Cash Collateral satisfactory to the Issuing Lender pursuant to this Section 3 shall be payable, to the maximum extent permitted by applicable Law, to the other Revolving Lenders in accordance with the upward adjustments in their
respective Revolving Percentages allocable to such Letter of Credit pursuant to Section 2.21(a)(iii), with the balance of such fee, if any, payable to the Issuing Lender for its own account. The Borrower agrees to pay all accrued and unpaid
Letter of Credit fees for the account of the Lenders with Existing Revolving Commitments on the Restatement Effective Date. In addition, the Borrower shall pay to the relevant Issuing Lender for its own account a fronting fee with respect to each
Letter of Credit at a per annum rate of 0.125% or a lower rate separately agreed between the Borrower and such Issuing Lender on the undrawn and unexpired amount of each Letter of Credit issued by such Issuing Lender, payable quarterly in arrears on
each L/C Fee Payment Date after the relevant issuance date. 
 (b) In addition to the foregoing fees, unless otherwise agreed by the relevant
Issuing Lender, the Borrower shall pay or reimburse each Issuing Lender for such normal and customary costs and expenses as are incurred or charged by such Issuing Lender in issuing, negotiating, effecting payment under, amending or otherwise
administering any Letter of Credit issued by it. 
 3.4. L/C Participations. 

(a) Each Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders to issue
Letters of Credit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lender, on the terms and conditions hereinafter stated, for such L/C Participant’s own account and
risk an undivided interest equal to such L/C Participant’s Revolving Percentage in each Issuing Lender’s obligations and rights under each Letter of Credit issued by it hereunder and the amount of each draft paid by such Issuing Lender
thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit issued by such Issuing Lender for which such Issuing Lender is not reimbursed in full by the
Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such Issuing Lender through the Administrative Agent upon demand an amount equal to such L/C Participant’s Revolving Percentage of the amount of such
draft, or any part thereof, that is not so reimbursed. Each L/C Participant’s obligation to make such payment to such Issuing Lender as contemplated by this Section 3.4(a), shall be absolute and unconditional and shall not be affected by
any circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right which such Lender may have against such Issuing Lender, the Borrower or any other Person for any reason whatsoever, (B) the occurrence or
continuance of a Default or Event of Default, or (C) any other occurrence, event or condition, whether or not similar to any of the foregoing. No such payment by any L/C Participant shall relieve or otherwise impair the obligation of the
Borrower to reimburse such Issuing Lender for the amount of any payment made by such Issuing Lender under any Letter of Credit, together with interest as provided herein. 

(b) If any amount required to be paid by any L/C Participant to any Issuing Lender pursuant to Section 3.4(a) in respect of any
unreimbursed portion of any payment made by such Issuing Lender under any Letter of Credit is paid to such Issuing Lender within three (3) Business Days after the date such payment is due, such L/C Participant shall pay to such Issuing Lender
on demand an amount equal to the product of (i) such amount, times (ii) the daily average Federal Funds Effective Rate during the period from and including the date such payment is required to the date on which such payment is immediately
available to such Issuing Lender, times (iii) a fraction the numerator of which is the number of days that elapse during such period and the denominator of which is 360. If any such amount required to be paid by any L/C Participant pursuant to
Section 3.4(a) is not made available to the relevant Issuing 

  
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Lender by such L/C Participant within three (3) Business Days after the date such payment is due, such Issuing Lender shall be entitled to recover from such L/C Participant, on demand, such
amount with interest thereon calculated from such due date at the rate per annum applicable to ABR Loans under the Revolving Commitments of such Lender. A certificate of the relevant Issuing Lender submitted to any L/C Participant with respect to
any amounts owing under this Section shall be conclusive in the absence of manifest error. 
 (c) Whenever, at any time after the relevant
Issuing Lender has made payment under any Letter of Credit and has received from any L/C Participant its pro rata share of such payment in accordance with Section 3.4(a), such Issuing Lender receives any payment through the
Administrative Agent related to such Letter of Credit (whether directly from the Borrower or otherwise, including proceeds of collateral applied thereto by such Issuing Lender), or any payment of interest on account thereof, the Administrative Agent
will distribute to each such Issuing Lender will distribute to each L/C Participant its pro rata share thereof; provided, however, that in the event that any such payment received by such Issuing Lender shall be required
to be returned by such Issuing Lender, such L/C Participant shall return to the Administrative Agent the portion thereof previously distributed by such Issuing Lender to it. 

3.5. Reimbursement Obligation of the Borrower. If any draft is paid under any Letter of Credit, the Borrower shall reimburse the
relevant Issuing Lender for the amount of (a) the draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment, not later than 1:00 P.M., New York City time, on
the day that the Borrower receives notice of payment of such draft. Each such payment shall be made to the relevant Issuing Lender in lawful money of the United States and in immediately available funds. Interest shall be payable on any and all
amounts remaining unpaid by the Borrower under this Section from the date such amounts become payable (whether at stated maturity, by acceleration or otherwise) (or from the date the relevant draft is paid, if notice thereof is received by the
Borrower prior to 10:00 A.M., New York City time, on such date) until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.12(b) and (ii) thereafter,
Section 2.12(c). 
 3.6. Obligations Absolute. The Borrower’s obligations under this Section 3 shall be absolute and
unconditional under any and all circumstances and irrespective of any setoff, counterclaim or defense to payment that the Borrower may have or have had against any Issuing Lender, any beneficiary of a Letter of Credit or any other Person. The
Borrower also agrees with each Issuing Lender and L/C Participant that no Issuing Lender or L/C Participant shall be responsible for, and the Borrower’s Reimbursement Obligations under Section 3.5 shall not be affected by, among other
things, the validity or genuineness of documents or of any endorsements thereon, even though such documents shall in fact prove to be invalid, fraudulent or forged, or any dispute between or among the Borrower and any beneficiary of any Letter of
Credit or any other party to which such Letter of Credit may be transferred or any claims whatsoever of the Borrower against any beneficiary of such Letter of Credit or any such transferee. No Issuing Lender shall be liable for any error, omission,
interruption or delay in transmission, dispatch or delivery of any message or advice, however transmitted, in connection with any Letter of Credit, except for errors or omissions found by a final non-appealable decision of a court of competent
jurisdiction to have resulted from the gross negligence or willful misconduct of the relevant Issuing Lender. The Borrower agrees that any action taken or omitted by any Issuing Lender under or in connection with any Letter of Credit or the related
drafts or documents, if done in the absence of gross negligence or willful misconduct and in accordance with the standards of care specified in the New York UCC, shall be binding on the Borrower and shall not result in any liability of any Issuing
Lender to the Borrower. 

  
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 3.7. Letter of Credit Payments. If any draft shall be presented for payment under any
Letter of Credit, the relevant Issuing Lender shall promptly notify the Borrower of the date and amount thereof. The responsibility of each Issuing Lender to the Borrower in connection with any draft presented for payment under any Letter of Credit
shall, in addition to any payment obligation expressly provided for in such Letter of Credit, be limited to determining that the documents (including each draft) delivered under such Letter of Credit in connection with such presentment are
substantially in conformity with such Letter of Credit. 
 3.8. Cash Collateral. 

(a) Certain Credit Support Events. Upon the request of the Administrative Agent or any Issuing Lender (i) if an Issuing Lender has
honored any full or partial drawing request under any Letter of Credit and such drawing has resulted in a Reimbursement Obligation, or (ii) if, as of the date the Total Revolving Commitment has terminated, any Letter of Credit or Reimbursement
Obligation for any reason remains outstanding, the Borrower shall, in each case, promptly but in any event within two Business Days of demand, Cash Collateralize the then outstanding amount of all Letters of Credit and Reimbursement Obligations. At
any time that there shall exist a Defaulting Lender, forthwith upon the request of the Administrative Agent, any Issuing Lender or the Swingline Lender, the Borrower shall deliver to the Administrative Agent Cash Collateral in an amount sufficient
to cover all Fronting Exposure (after giving effect to Section 2.21(a)(iii) and any Cash Collateral provided by the Defaulting Lender). If at any time the Administrative Agent determines that any funds held as Cash Collateral are subject to any
right or claim of any Person other than the Administrative Agent or that the total amount of such funds is less than the aggregate outstanding of obligations required to be Cash Collateralized, the Borrower will, promptly but in any event within two
Business Days of demand by the Administrative Agent, pay to the Administrative Agent, as additional funds to be deposited as Cash Collateral, an amount equal to the excess of (x) such aggregate amount required to be Cash Collateralized over
(y) the total amount of funds, if any, then held as Cash Collateral that the Administrative Agent determines to be free and clear of any such right and claim. Upon the drawing of any Letter of Credit for which funds are on deposit as Cash
Collateral, such funds shall be applied, to the extent permitted under applicable Laws, to reimburse the applicable Issuing Lender. 
 (b)
Grant of Security Interest. All Cash Collateral (other than credit support not constituting funds subject to deposit) shall be maintained in blocked, non-interest bearing deposit accounts at the Administrative Agent. The Borrower, and to the
extent provided by any Lender, such Lender, hereby grant to (and subject to the control of) the Administrative Agent, for the benefit of the Administrative Agent, each Issuing Lender and the Swingline Lender, and agree to maintain, a first priority
security interest in all such cash, deposit accounts and all balances therein, and all other property so provided as collateral pursuant hereto, and in all proceeds of the foregoing, all as security for the obligations to which such Cash Collateral
may be applied pursuant to clause (c) below. 
 (c) Application. Notwithstanding anything to the contrary contained in this
Agreement or any other Loan Document, Cash Collateral provided in respect of Letters of Credit or Swingline Loans shall be held and upon the occurrence and continuation of an Event of Default applied to the satisfaction of the specific Letters of
Credit, Reimbursement Obligations, Swingline Loans, obligations to fund participations therein (including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation) and other obligations for which the Cash
Collateral was so provided, prior to any other application of such property as may be provided for in the Loan Documents. 

  
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 (d) Release. Cash Collateral (or the appropriate portion thereof) provided to reduce
Fronting Exposure or other obligations shall be released promptly following (i) the elimination of the applicable Fronting Exposure or other obligations giving rise thereto (including by the termination of Defaulting Lender status of the
applicable Lender (or, as appropriate, its assignee following compliance with Section 10.6(b)) or (ii) the Administrative Agent’s good faith determination that there exists excess Cash Collateral; provided, however,
(x) that Cash Collateral furnished by or on behalf of the Borrower shall not be released during the continuance of a Default or Event of Default (and following application as provided in clause (c) above may be otherwise applied in
accordance with the Loan Documents), and (y) the Person providing Cash Collateral and the Issuing Lender or Swingline Lender, as applicable, may agree that Cash Collateral shall not be released but instead held to support future anticipated
Fronting Exposure or other obligations. 
 3.9. Applications. To the extent that any provision of any Application related to any
Letter of Credit is inconsistent with the provisions of this Section 3, the provisions of this Section 3 shall apply. 
 3.10.
Applicability of ISP and UCP. Unless otherwise expressly agreed by the relevant Issuing Lender and the Borrower when a Letter of Credit is issued, (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the
rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance shall apply to each commercial Letter of Credit. 

SECTION 4 REPRESENTATIONS AND WARRANTIES 

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

4.1. Financial Condition. The condensed consolidating balance sheet information for the Borrower and its Subsidiaries as at
December 31, 2016 and the related condensed consolidating statement of operations and cash flows information for the Borrower and its Subsidiaries for the fiscal year ended on such date, as included in the audited consolidated financial
statements of CCI as at, and for the year ended, December 31, 2016, have been prepared based on the best information available to the Borrower as of the date of delivery thereof, and present fairly the consolidated financial condition of the
Borrower as at such date, and the consolidated results of its operations and its consolidated cash flows for the period then ended on the basis described therein. Such financial information has been prepared in accordance with GAAP applied
consistently throughout the periods involved (except as approved by KPMG and disclosed therein or as otherwise disclosed therein). As of the Restatement Effective Date, the Borrower and its Subsidiaries do not have any material Guarantee
Obligations, contingent liabilities and liabilities for taxes, or any long-term leases or unusual forward or long-term commitments, including any interest rate or foreign currency swap or exchange transaction or other obligation in respect of
derivatives, that are not reflected in such financial statements of CCI. 
 4.2. No Change. Since December 31, 2016 there has
been no event, development or circumstance that has had or could reasonably be expected to have a Material Adverse Effect. 
 4.3.
Existence; Compliance with Law. Each of Holdings, the Borrower and its Subsidiaries (a) except in the case of any Shell Subsidiary and any former Shell Subsidiary until it becomes a Loan Party pursuant to Section 6.9, is duly
organized, validly existing and in good standing under the laws of the jurisdiction of its organization, (b) has the power and authority, and the legal right, to own and operate its property, to lease the property it operates as lessee and to
conduct the business in 

  
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which it is currently engaged, (c) is duly qualified as a foreign entity and in good standing under the laws of each jurisdiction where its ownership, lease or operation of property or the
conduct of its business requires such qualification and (d) is in compliance with all Requirements of Law, in each case with respect to clauses (b), (c) and (d), except as could not, in the aggregate, reasonably be expected to have a
Material Adverse Effect. 
 4.4. Power; Authorization; Enforceable Obligations. Each Loan Party has the power and authority, and the
legal right, to make, deliver and perform the Loan Documents to which it is a party and, in the case of the Borrower, to borrow hereunder. Each Loan Party has taken all necessary action to authorize the execution, delivery and performance of the
Loan Documents to which it is a party and, in the case of the Borrower, to authorize the borrowings on the terms and conditions of this Agreement. No consent or authorization of, filing with, notice to or other act by or in respect of, any
Governmental Authority or any other Person is required in connection with the borrowings hereunder or with the execution, delivery, performance, validity or enforceability of this Agreement or any of the Loan Documents, other than those that have
been obtained or made and are in full force and effect. Each Loan Document has been duly executed and delivered on behalf of each Loan Party party thereto. This Agreement constitutes, and each other Loan Document upon execution will constitute, a
valid and legally binding obligation of each Loan Party party thereto, enforceable against each such Loan Party in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or
similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles (whether enforcement is sought by proceedings in equity or at law). 

4.5. No Legal Bar. The execution, delivery and performance of this Agreement and the other Loan Documents, the issuance of Letters of
Credit, the borrowings hereunder and the use of the proceeds thereof, will not violate any material Requirement of Law or any material Contractual Obligation of any Designated Holding Company, the Borrower or any of its Subsidiaries and will not
result in, or require, the creation or imposition of any Lien on any of their respective properties or revenues pursuant to any Requirement of Law or any such Contractual Obligation (other than the Liens created by the Guarantee and Collateral
Agreement or permitted by Section 7.3(o)). 
 4.6. Litigation. No litigation, investigation or proceeding of or before any
arbitrator or Governmental Authority is pending or, to the knowledge of Holdings or the Borrower, threatened by or against Holdings, the Borrower or any of its Subsidiaries, or against any of their respective properties or revenues (a) with
respect to any of the Loan Documents or any of the transactions contemplated hereby or thereby, or (b) that could reasonably be expected to have a Material Adverse Effect. 

4.7. No Default. None of Holdings, the Borrower or any of its Subsidiaries is in default under or with respect to any of its Contractual
Obligations in any respect that could reasonably be expected to have a Material Adverse Effect. No Default or Event of Default has occurred and is continuing. 

4.8. Ownership of Property; Liens. Each of Holdings, the Borrower and its Subsidiaries has marketable title to, or a valid leasehold
interest in, all its real property, and good title to, or a valid leasehold interest in, all its other property (in each case except as could not reasonably be expected to have a Material Adverse Effect), and none of such property is subject to any
Lien except Liens not prohibited by Section 7.3. 
 4.9. Intellectual Property. Each of Holdings, the Borrower and each of its
Subsidiaries owns, or is licensed to use, all Intellectual Property necessary for the conduct of its business as currently conducted, except as could not reasonably be expected to have a Material Adverse Effect. 

  
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No claim has been asserted and is pending by any Person challenging or questioning the use, validity or effectiveness of any Intellectual Property owned or licensed by Holdings, the Borrower or
any of its Subsidiaries that could reasonably be expected to result in a breach of the representation and warranty set forth in the first sentence of this Section 4.9, nor does the Borrower know of any valid basis for any such claim. The use of
all Intellectual Property necessary for the conduct of the business of the Borrower and its Subsidiaries, taken as a whole, does not infringe on the rights of any Person in such a manner that could reasonably be expected to result in a breach of the
representation and warranty set forth in the first sentence of this Section 4.9. 
 4.10. Taxes. Except as could not reasonably
be expected to have a Material Adverse Effect, each of Holdings, the Borrower and each of its Subsidiaries (other than Shell Subsidiaries) has filed or caused to be filed all federal, state and other material tax returns that are required to be
filed and has paid all taxes shown to be due and payable on said returns or on any assessments made against it or any of its property and all other taxes, fees or other charges imposed on it or any of its property by any Governmental Authority
(other than those with respect to which the amount or validity thereof are currently being contested in good faith by appropriate proceedings and with respect to which reserves in conformity with GAAP have been provided on the books of Holdings, the
Borrower or its Subsidiaries, as the case may be). 
 4.11. Federal Regulations. No part of the proceeds of any Loans will be used
(a) for “buying” or “carrying” any “margin stock” within the respective meanings of each of the quoted terms under Regulation U as now and from time to time hereafter in effect or for any purpose that violates the
provisions of the Regulations of the Board. If requested by any Lender or the Administrative Agent, the Borrower will furnish to the Administrative Agent and each Lender a statement to the foregoing effect in conformity with the requirements of FR
Form G-3 or FR Form U-1, as applicable, referred to in Regulation U. 
 4.12. Labor Matters. Except as, in the aggregate, could not
reasonably be expected to have a Material Adverse Effect: (a) there are no strikes or other labor disputes against Holdings, the Borrower or any of its Subsidiaries pending or, to the knowledge of Holdings or the Borrower, threatened;
(b) hours worked by, and payment made to, employees of Holdings, the Borrower and its Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable Requirement of Law dealing with such matters; and (c) all
payments due from Holdings, the Borrower or any of its Subsidiaries on account of employee health and welfare insurance have been paid or accrued as a liability on the books of Holdings, the Borrower or the relevant Subsidiary. 

4.13. ERISA. Neither a Reportable Event nor an “accumulated funding deficiency” (within the meaning of Section 412 of the
Code or Section 302 of ERISA) has occurred during the five-year period prior to the date on which this representation is made or deemed made with respect to any Plan, and each Plan has complied in all material respects with the applicable
provisions of ERISA and the Code. No termination of a Single Employer Plan has occurred, and no Lien in favor of the PBGC or a Plan has arisen, during such five-year period. The present value of all accrued benefits under each Single Employer Plan
(based on those assumptions used to fund such Plans) did not, as of the last annual valuation date prior to the date on which this representation is made or deemed made, exceed the value of the assets of such Plan allocable to such accrued benefits
by more than $1,000,000. Neither any Loan Party nor any Commonly Controlled Entity has had a complete or partial withdrawal from any Multiemployer Plan that has resulted or could reasonably be expected to result in a material liability under ERISA,
and neither any Loan Party nor, to any Loan Party’s knowledge, any Commonly Controlled Entity would become subject to any material liability under ERISA if any Loan Party or any Commonly Controlled Entity were to withdraw completely from all
Multiemployer Plans as of the valuation date most closely preceding the date on which this representation is made or deemed made. No Multiemployer Plan of any Loan Party or any Commonly Controlled Entity is in Reorganization or Insolvent. 

  
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 4.14. Investment Company Act; Other Regulations. No Loan Party is an “investment
company”, or a company “controlled” by an “investment company”, within the meaning of the Investment Company Act of 1940, as amended. No Loan Party is subject to regulation under any Requirement of Law (other than Regulation
X of the Board) that limits its ability to incur Indebtedness. 
 4.15. Subsidiaries. As of the Restatement Effective Date and,
following the Restatement Effective Date, as of the date of the most recently delivered Compliance Certificate pursuant to Section 6.2(b), (a) Schedule 4.15 (as modified by such Compliance Certificate) sets forth the name and jurisdiction
of organization of each Designated Holding Company, the Borrower and each of the Borrower’s Subsidiaries (except any Shell Subsidiary) and, as to each such Person, the percentage of each class of Equity Interests owned by Holdings, the Borrower
and each of the Borrower’s Subsidiaries, and (b) except as set forth on Schedule 4.15 (as modified by such Compliance Certificate), there are no outstanding subscriptions, options, warrants, calls, rights or other agreements or commitments
of any nature relating to any Equity Interests of the Borrower or any of its Subsidiaries (except any Shell Subsidiary), except as created by the Loan Documents. 

4.16. Use of Proceeds. The proceeds of the Revolving Loans and any Term Loans, and the Letters of Credit, shall be used for general
purposes, including to finance permitted Investments and permitted distributions to redeem Indebtedness of parent companies of the Borrower. 

4.17. Environmental Matters. Except as, in the aggregate, could not reasonably be expected to have a Material Adverse Effect: 

(a) the facilities and properties owned, leased or operated by Holdings, the Borrower or any of its Subsidiaries (the
“Properties”) do not contain, and have not previously contained, any Materials of Environmental Concern in amounts or concentrations or under circumstances that constitute or constituted a violation of, or could give rise to
liability under, any Environmental Law; 
 (b) neither Holdings, the Borrower nor any of its Subsidiaries has received or is
aware of any notice of violation, alleged violation, non-compliance, liability or potential liability regarding environmental matters or compliance with Environmental Laws with regard to any of the Properties or the business operated by Holdings,
the Borrower or any of its Subsidiaries (the “Business”), nor does Holdings or the Borrower have knowledge or reason to believe that any such notice will be received or is being threatened; 

(c) Materials of Environmental Concern have not been transported or disposed of from the Properties in violation of, or in a
manner or to a location that could give rise to liability under, any Environmental Law, nor have any Materials of Environmental Concern been generated, treated, stored or disposed of at, on or under any of the Properties in violation of, or in a
manner that could give rise to liability under, any applicable Environmental Law; 
 (d) no judicial proceeding or
governmental or administrative action is pending or, to the knowledge of Holdings and the Borrower, threatened, under any Environmental Law to which Holdings, the Borrower or any Subsidiary is or will be named as a party with respect to the
Properties or the Business, nor are there any consent decrees or other decrees, consent orders, administrative orders or other orders, or other administrative or judicial requirements outstanding under any Environmental Law with respect to the
Properties or the Business; 

  
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 (e) there has been no release or threat of release of Materials of
Environmental Concern at or from the Properties, or arising from or related to the operations of Holdings, the Borrower or any Subsidiary in connection with the Properties or otherwise in connection with the Business, in violation of or in amounts
or in a manner that could give rise to liability under Environmental Laws; 
 (f) the Properties and all operations at the
Properties are in compliance, and have in the last five years been in compliance, with all applicable Environmental Laws, and there is no contamination at, under or about the Properties or violation of any Environmental Law with respect to the
Properties or the Business; and 
 (g) neither Holdings, the Borrower nor any of its respective Subsidiaries has assumed any
liability of any other Person under Environmental Laws. 
 4.18. Certain Cable Television Matters. Except as, in the aggregate, could
not reasonably be expected to result in a Material Adverse Effect: 
 (a) (i) Holdings, the Borrower and its Subsidiaries
possess all Authorizations necessary to own, operate and construct the CATV Systems or otherwise for the operations of their businesses and are not in violation thereof and (ii) all such Authorizations are in full force and effect and no event
has occurred that permits, or after notice or lapse of time could permit, the revocation, termination or material and adverse modification of any such Authorization; 

(b) neither Holdings, the Borrower nor any of its Subsidiaries is in violation of any duty or obligation required by the
Communications Act of 1934, as amended, or any FCC rule or regulation applicable to the operation of any portion of any of the CATV Systems; 

(c) (i) there is not pending or, to the best knowledge of Holdings or the Borrower, threatened, any action by the FCC to
revoke, cancel, suspend or refuse to renew any FCC License held by Holdings, the Borrower or any of its Subsidiaries and (ii) there is not pending or, to the best knowledge of the Borrower, threatened, any action by the FCC to modify adversely,
revoke, cancel, suspend or refuse to renew any other Authorization; and 
 (d) there is not issued or outstanding or, to the
best knowledge of Holdings and the Borrower, threatened, any notice of any hearing, violation or complaint against Holdings, the Borrower or any of its Subsidiaries with respect to the operation of any portion of the CATV Systems and neither
Holdings nor the Borrower has any knowledge that any Person intends to contest renewal of any Authorization. 
 4.19. Accuracy of
Information, Etc. No statement or information (other than projections and pro forma financial information) contained in this Agreement, any other Loan Document, or any other document, certificate or statement furnished by or on
behalf of any Loan Party to the Agents or the Lenders, or any of them, for use in connection with the transactions contemplated by this Agreement or the other Loan Documents, as supplemented and updated from time to time (including through the
filing of reports with the SEC) prior to the date this representation and warranty is made or deemed made and when taken as a whole with other such statements and information, 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. The projections and pro forma financial information contained in the 

  
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materials referenced above are based upon good faith estimates and assumptions believed by management of the Borrower to be reasonable at the time made, it being recognized by the Lenders that
such financial information as it relates to future events is not to be viewed as fact and that actual results during the period or periods covered by such financial information may differ from the projected results set forth therein by a material
amount. There is no fact known to any Loan Party (other than information of a general economic or political nature) that could reasonably be expected to have a Material Adverse Effect that has not been expressly disclosed herein, in the other Loan
Documents, in reports filed with the SEC or in any other documents, certificates and statements furnished to the Agents and the Lenders for use in connection with the transactions contemplated hereby and by the other Loan Documents. 

4.20. Security Interests. 

(a) The Guarantee and Collateral Agreement is effective to create or continue, as applicable, in favor of the Administrative Agent, for the
benefit of the Secured Parties (as defined in the Guarantee and Collateral Agreement), a legal, valid and enforceable security interest in the Collateral described therein and proceeds thereof. In the case of certificated Pledged Stock (constituting
securities within the meaning of Section 8-102(a)(15) of the New York UCC) described in the Guarantee and Collateral Agreement, when certificates representing such Pledged Stock are delivered to the Administrative Agent, and in the case of the
other Collateral described in the Guarantee and Collateral Agreement, when financing statements in appropriate form are filed in the offices specified on Schedule 4.20(a), the Guarantee and Collateral Agreement shall constitute a fully
perfected Lien on, and security interest in, all right, title and interest of the parties thereto in such Collateral and the proceeds thereof, as security for the Obligations, in each case prior and superior in right to any other Person, other than
with respect to Liens not prohibited by Section 7.3. 
 (b) None of the Equity Interests of the Borrower and its Subsidiaries which are
limited liability companies or partnerships constitutes a security under Section 8-103 of the New York UCC or the corresponding code or statute of any other applicable jurisdiction. 

4.21. Solvency. The Borrower and its Subsidiaries, taken as a whole, are, and after giving effect to the financing transactions referred
to herein to occur on the Restatement Effective Date will be and will continue to be, Solvent. 
 SECTION 5 CONDITIONS PRECEDENT 

5.1. Conditions to Restatement Effective Date. The effectiveness of this Agreement is subject to the occurrence of the Restatement
Effective Date. 
 5.2. Conditions to Each Extension of Credit. The agreement of each Lender to make any extension of credit requested
to be made by it on any date (including its initial extension of credit) is subject to the satisfaction of the following conditions precedent: 

(a) Representations and Warranties. Each of the representations and warranties made by any Loan Party in or pursuant to
the Loan Documents shall be true and correct in all material respects on and as of such date as if made on and as of such date (except for any representation and warranty that is made as of a specified earlier date, in which case such representation
and warranty shall have been true and correct in all material respects as of such earlier date); provided that, in connection with any incurrence of Incremental Term Loans for purposes of financing a Limited Condition Acquisition, the
foregoing requirement shall only apply to the representations and warranties contained in Section 4.3(a) (solely with respect to Holdings and the Borrower), 4.4, 4.11, 4.14, 4.20 and 4.21. 

  
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 (b) No Default. Subject to Section 1.2(j), no Default or Event
of Default shall have occurred and be continuing on such date or after giving effect to the extensions of credit requested to be made on such date. 
 Each
borrowing by and issuance of a Letter of Credit on behalf of the Borrower hereunder shall constitute a representation and warranty by the Borrower as of the date of such extension of credit that the applicable conditions contained in this
Section 5.2 have been satisfied. 
 SECTION 6 AFFIRMATIVE COVENANTS 

Holdings and the Borrower hereby agree that, so long as the Commitments remain in effect, any Letter of Credit remains outstanding or any Loan
or other amount is owing to any Lender or any Agent hereunder, each of Holdings and the Borrower shall, and shall cause each Subsidiary of the Borrower to: 

6.1. Financial Statements. Furnish to the Lenders through the Administrative Agent (including by means of IntraLinks or any similar
posting): 
 (a) as soon as available, but in any event within 90 days after the end of each fiscal year of the Borrower, a
copy of the audited consolidated balance sheet of the Borrower and its consolidated Subsidiaries as at the end of such year and the related audited consolidated statements of income and of cash flows for such year, setting forth in each case in
comparative form the figures for the previous year, reported on without a “going concern” or like qualification or exception, or qualification arising out of the scope of the audit, by KPMG or other independent certified public accountants
of nationally recognized standing; and 
 (b) as soon as available, but in any event not later than 45 days after the end of
each of the first three quarterly periods of each fiscal year of the Borrower, the unaudited consolidated balance sheets of the Borrower and its consolidated Subsidiaries as at the end of such quarter and the related unaudited consolidated
statements of income and of cash flows for such quarter and the portion of the fiscal year through the end of such quarter, setting forth in each case in comparative form the figures for the previous year, certified by a Responsible Officer as being
fairly stated in all material respects (subject to normal year-end audit adjustments and the absence of footnotes). 
 All such financial statements shall
be complete and correct in all material respects and shall be prepared in reasonable detail and in accordance with GAAP applied consistently throughout the periods reflected therein and with prior periods (i) except as approved by such
accountants or officer, as the case may be, and disclosed therein, and (ii) except that the consolidated statements of the Borrower and its consolidated Subsidiaries described above will not include the balance sheet and financial results of
the Non-Recourse Subsidiaries. 
 Notwithstanding the foregoing, so long as any Person directly or indirectly owns 100% of the Equity
Interests of the Borrower, the obligations set forth in Section 6.1(a) and (b) may be satisfied with respect to financial information of the Borrower and its Subsidiaries by furnishing the applicable financial information of such Person;
provided that to the extent financial information of such Person is provided, such financial information is accompanied by consolidating information that explains in reasonable detail the differences between the information relating to such
Person and its Subsidiaries (other than the Borrower and its Subsidiaries), on the one hand, and the information relating to the Borrower and its Subsidiaries on a standalone basis, on the other hand and (ii) to the extent financial statements
of such Person are provided in lieu of financial statements of the Borrower under Section 6.1(a), such financial statements are reported on without a “going concern” or like qualification or exception, or qualification arising out of
the scope of the audit, by KPMG or other independent certified public accountants of nationally recognized standing. 

  
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 Documents required to be delivered pursuant to Section 6.1(a) or (b) may be
delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto on the Borrower’s website on the Internet at the website address
listed on Schedule 10.2; or (ii) on which such documents are posted on the Borrower’s behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial,
third-party website or whether sponsored by the Administrative Agent) or filed with the SEC on Form 10-K or 10-Q, as applicable; provided that: (i) the Borrower shall deliver paper copies of such documents to the Administrative Agent
upon its request to the Borrower to deliver such paper copies until a written request to cease delivering paper copies is given by the Administrative Agent and (ii) the Borrower shall notify the Administrative Agent (by telecopier or electronic
mail) of the posting of any such documents and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents. The Administrative Agent shall have no obligation to request the delivery of or
to maintain paper copies of the documents referred to above. 
 The Borrower hereby acknowledges that (a) the Administrative Agent
and/or the Joint Lead Arrangers will make available to the Lenders and the Issuing Lender materials and/or information provided by or on behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the Borrower
Materials on IntraLinks or another similar electronic system (the “Platform”) and (b) certain of the Lenders (each, a “Public Lender”) may have personnel who do not wish to receive material non-public
information with respect to the Borrower or its Affiliates, or the respective securities of any of the foregoing, and who may be engaged in investment and other market-related activities with respect to such Persons’ securities. The Borrower
hereby agrees that it will use commercially reasonable efforts to identify that portion of the Borrower Materials that may be distributed to the Public Lenders and that (w) all such Borrower Materials shall be clearly and conspicuously marked
“PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking Borrower Materials “PUBLIC,” the Borrower shall be deemed to have authorized the
Administrative Agent the other Agents, the Issuing Lender and the Lenders to treat such Borrower Materials as not containing any material non-public information (although it may be sensitive and proprietary) with respect to the Borrower or its
securities for purposes of United States Federal and state securities laws, provided, however, that to the extent such Borrower Materials constitute non-public information, they shall be treated as set forth in Section 10.15);
(y) all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public Side Information;” and (z) the Administrative Agent and the other Agents shall be
entitled to treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Side Information.” Notwithstanding the foregoing, the Borrower shall be
under no obligation to mark any Borrower Materials “PUBLIC”. 
 6.2. Certificates; Other Information. Furnish to the Lenders
through the Administrative Agent (including by means of IntraLinks or any similar posting) (or, in the case of clause (d) below, to the relevant Lender): 

(a) [Reserved]; 

(b) concurrently with the delivery of any financial statements pursuant to Section 6.1, (i) a certificate of a
Responsible Officer stating that, to the best of each such Responsible Officer’s knowledge, each Loan Party during such period has observed or performed all of its 

  
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covenants and other agreements, and satisfied every condition, contained in this Agreement and the other Loan Documents to which it is a party to be observed, performed or satisfied by it, and
that such Responsible Officer has obtained no knowledge of any Default or Event of Default except as specified in such certificate and (ii) a Compliance Certificate containing all information and calculations necessary for determining
compliance by Holdings, the Borrower and its Subsidiaries with the provisions of this Agreement referred to therein as of the last day of the fiscal quarter or fiscal year of the Borrower, as the case may be; 

(c) [Reserved]; 

(d) promptly, such additional financial and other information (including financial information with respect to the Borrower and
its Subsidiaries) as any Lender may from time to time reasonably request; and 
 (e) the Borrower shall, promptly following a
request by the Administrative Agent or any Lender, provide all documentation and other information that the Administrative Agent or such Lender reasonably requests in order to comply with its ongoing obligations under applicable “know your
customer” and anti-money laundering rules and regulations, including the
Patriot Act (as hereinafter defined). 
 6.3. Payment of Obligations. Pay, discharge or otherwise satisfy at or before maturity
or before they become delinquent, as the case may be, all its obligations of whatever nature, except where failure to do so could not reasonably be expected to have a Material Adverse Effect or where the amount or validity thereof is currently being
contested in good faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been provided on the books of Holdings, the Borrower or its Subsidiaries, as the case may be. 

6.4. Maintenance of Existence; Compliance. (a) (i) Other than with respect to Shell Subsidiaries, preserve, renew and keep in
full force and effect its existence and (ii) take all reasonable action to maintain all rights, privileges and franchises necessary or desirable in the normal conduct of its business, except, in each case, as otherwise permitted by
Section 7.4 and except, in the case of clause (ii) above, to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; and (b) comply with all Contractual Obligations and Requirements of Law
except to the extent that failure to comply therewith could not, in the aggregate, reasonably be expected to have a Material Adverse Effect. 

6.5. Maintenance of Property; Insurance. (a) Except as in the aggregate could not reasonably be expected to have a Material Adverse
Effect, keep all property useful and necessary in its business in good working order and condition, ordinary wear and tear excepted, and (b) maintain with financially sound and reputable insurance companies insurance on all its material
property in at least such amounts and against at least such risks (but including in any event public liability, product liability and business interruption) as are usually insured against in the same general geographic area by companies engaged in
the same or a similar business. 
 6.6. Inspection of Property; Books and Records; Discussions. (a) Keep proper books of records
and account in which full, true and correct entries in conformity with GAAP and all Requirements of Law shall be made of all material dealings and transactions in relation to its business and activities and (b) permit representatives of any
Lender, coordinated through the Administrative Agent, to visit and inspect any of its properties and examine and make abstracts from any of its books and records at any reasonable time and as often as may reasonably be desired and to discuss the
business, operations, properties and financial and other condition of Holdings, the Borrower and its Subsidiaries with officers and employees of Holdings, the Borrower and its Subsidiaries and with its independent certified public accountants. 

  
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 6.7. Notices. Promptly give notice to the Lenders through the Administrative Agent
(including by means of IntraLinks or any similar posting) of: 
 (a) the occurrence of any Default or Event of Default; 

(b) any (i) default or event of default under any Contractual Obligation of Holdings, the Borrower or any of its
Subsidiaries or (ii) litigation, investigation or proceeding that may exist at any time between Holdings, the Borrower or any of its Subsidiaries and any Governmental Authority, that, in either case, could reasonably be expected to have a
Material Adverse Effect; 
 (c) any litigation or proceeding commenced against Holdings, the Borrower or any of its
Subsidiaries which could reasonably be expected to result in a liability of $250,000,000 or more to the extent not covered by insurance or which could reasonably be expected to have a Material Adverse Effect; 

(d) the following events: (i) the occurrence of any Reportable Event with respect to any Plan, a failure to make any
required contribution to a Plan, the creation of any Lien in favor of the PBGC or a Plan or any withdrawal from, or the termination, Reorganization or Insolvency of, any Multiemployer Plan, (ii) the institution of proceedings or the taking of
any other action by the PBGC or any Loan Party or any Commonly Controlled Entity or any Multiemployer Plan with respect to the withdrawal from, or the termination, Reorganization or Insolvency of, any Plan or (iii) within five Business Days
after the receipt thereof by any Loan Party or any Commonly Controlled Entity, a copy of any notice from the PBGC stating its intention to terminate a Plan or to have a trustee appointed to administer any Plan; 

(e) any determination by the Borrower to treat the Loans and/or Letters of Credit as being a “reportable transaction”
(within the meaning of Treasury Regulation Section 1.6011-4), and promptly thereafter, the Borrower shall deliver a duly completed copy of IRS Form 8886 or any successor form to the Administrative Agent; and 

(f) any other development or event that has had or could reasonably be expected to have a Material Adverse Effect. 

Each notice pursuant to this Section 6.7 shall be accompanied by a statement of a Responsible Officer setting forth details of the occurrence referred to
therein and stating what action Holdings, the Borrower or the relevant Subsidiary proposes to take with respect thereto. 
 6.8.
Environmental Laws. 
 (a) Except as, in the aggregate, could not reasonably be expected to result in a Material Adverse Effect,
comply with, and ensure compliance by all tenants and subtenants, if any, with, all applicable Environmental Laws, and obtain and comply with and maintain, and ensure that all tenants and subtenants obtain and comply with and maintain, any and all
licenses, approvals, notifications, registrations or permits required by applicable Environmental Laws. 

  
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 (b) Except as, in the aggregate, could not reasonably be expected to result in a Material
Adverse Effect, conduct and complete all investigations, studies, sampling and testing, and all remedial, removal and other actions required under Environmental Laws and promptly comply with all lawful orders and directives of all Governmental
Authorities regarding Environmental Laws. 
 6.9. Additional Collateral. With respect to any new Subsidiary (other than any Specified
Excluded Subsidiary so long as it qualifies or subject to the proviso of the definition of “De Minimis Subsidiary”, at the
option of the Borrower, any De Minimis Subsidiary) created or acquired by the Borrower or any of its Subsidiaries (which shall be deemed to have occurred in the event that any Specified Excluded
Subsidiary ceases to qualify as such, it being understood that such Subsidiaries will not be required to become Subsidiary Guarantors until such time), promptly (a) execute and deliver to the Administrative Agent such amendments to the
Guarantee and Collateral Agreement as the Administrative Agent deems necessary or advisable to grant to the Administrative Agent, for the benefit of the Lenders, or the Borrower, as the case may be, a perfected first priority security interest,
subject to Liens not prohibited by Section 7.3, in (i) the Equity Interests of such new Subsidiary and all other property of the type that would constitute Collateral of such new Subsidiary (including Intercompany Obligations) that are
held by Holdings, the Borrower or any of its Subsidiaries, (a) limited in the case of the Equity Interests of any Foreign Subsidiary, to 66% of the total outstanding Equity Interests of such Foreign Subsidiary and (b) excluding any Equity
Interests of such Subsidiary in excess of the maximum amount of such Equity Interests that could be included in the Collateral without creating, in connection with the pledge thereof under any class of debt securities that is secured on a pari passu
basis with the Obligations, a requirement pursuant to Rule 3-16 of Regulation S-X under the Securities Act for separate financial statements of such Subsidiary to be included in filings by the Borrower with the SEC, and (ii) any Collateral with
respect to such new Subsidiary as described in the Guarantee and Collateral Agreement, (b) deliver to the Administrative Agent the certificates, if any, representing such Equity Interests (constituting securities within the meaning of
Section 8-102(a)(15) of the New York UCC), and any intercompany notes or other instruments evidencing Intercompany Obligations and all other rights and interests constituting Collateral, together with, as applicable, undated powers, instruments
of transfer and endorsements, in blank, executed and delivered by a duly authorized officer of Holdings, the Borrower or such Subsidiary, as the case may be, and (c) cause such new Subsidiary (i) to deliver an Assumption Agreement with
respect to the Guarantee and Collateral Agreement and (ii) to take such actions necessary or advisable to grant to the Administrative Agent for the benefit of the Lenders a perfected first priority security interest, subject to Liens not
prohibited by Section 7.3, in the Collateral described in the Guarantee and Collateral Agreement with respect to such new Subsidiary, including the filing of Uniform Commercial Code financing statements in such jurisdictions as may be required
by the Guarantee and Collateral Agreement or by law or as may be requested by the Administrative Agent. 
 6.10. Regulated
Subsidiaries. With respect to each Regulated Subsidiary, (a) take reasonable steps to obtain the consents required from any Governmental Authority to enable such Regulated Subsidiary (unless it is a Shell Subsidiary) to become a Loan Party
and to enable the Loan Parties to pledge as Collateral all of the Equity Interests of such Regulated Subsidiary owned by them and (b) cause such Regulated Subsidiary to comply with the proviso contained in the definition thereof. 

SECTION 7 NEGATIVE COVENANTS 

Holdings and the Borrower agree that, so long as the Commitments remain in effect, any Letter of Credit remains outstanding or any Loan or
other amount is owing to any Lender or any Agent hereunder, Holdings (solely with respect to Sections 7.2, 7.3, 7.4, 7.12, 7.14 and 7.15) and the Borrower shall not, and shall not permit any Subsidiary of the Borrower to, directly or indirectly:

  
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 7.1. Financial Condition Covenants. 

(a) Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio determined as of the last day of any fiscal quarter of the
Borrower to exceed 5.0 to 1.0. 
 (b) Consolidated First Lien Leverage Ratio. Permit the Consolidated First Lien Leverage Ratio
determined as of the last day of any fiscal quarter of the Borrower to exceed 4.0 to 1.0. 
 7.2. Indebtedness. Create, issue, incur,
assume, become liable in respect of or suffer to exist any Indebtedness, except: 
 (a) Indebtedness of any Loan Party
pursuant to any Loan Document; 
 (b) (i) Indebtedness of the Borrower to any Subsidiary and of any Wholly Owned Subsidiary
Guarantor to the Borrower or any other Subsidiary; (ii) Indebtedness of any Subsidiary of the Borrower that is not a Subsidiary Guarantor to any other Subsidiary of the Borrower that is not a Subsidiary Guarantor; and (iii) Indebtedness
incurred by any Subsidiary resulting from Investments made pursuant to Section 7.7(h) in the form of intercompany loans; 

(c) (i) Guarantee Obligations incurred in the ordinary course of business by the Borrower or any of its Subsidiaries of
obligations of any Wholly Owned Subsidiary Guarantor or, if such Subsidiary is a Guarantor, obligations of the Borrower and (ii) Guarantee Obligations incurred in the ordinary course of business by any Subsidiary of the Borrower that is not a
Subsidiary Guarantor of obligations of any other Subsidiary of the Borrower that is not a Subsidiary Guarantor; 
 (d)
Indebtedness of the Borrower and its Subsidiaries (including, without limitation, Finance Lease Obligations) secured by Liens permitted by Section 7.3(f)(i) in an aggregate principal amount not to exceed $1,500,000,000the greater of (x) $1,500,000,000 and
(y) 5.00% of Consolidated Net Tangible Assets (measured at the time of incurrence of any Indebtedness pursuant to this clause (d)) at any one time outstanding; 

(e) Indebtedness of Holdings, the Borrower and Charter Communications Operating Capital Corp. (and Guarantee Obligations of any
Guarantor in respect thereof) so long as (i) at the time of the incurrence or issuance of such Indebtedness, no Default or Event of Default shall have occurred and be continuing or would result therefrom, (ii) such Indebtedness shall have
no scheduled amortization prior to the date that is six months after the Term B Maturity Date, (iii) the terms of the documentation for such Indebtedness do not require Holdings, the Borrower or any of its Subsidiaries to repurchase, repay or
redeem such debt securities (or make an offer to do any of the foregoing) upon the happening of any event (other than as a result of an event of default thereunder or pursuant to customary “change of control” provisions or asset sale
offers) prior to the Term B Maturity Date and (iv) the documentation for such Indebtedness does not contain financial maintenance covenants (which term shall not include financials-based incurrence tests) and provides for other covenants,
events of default and other terms that the Borrower determines are not worse than market terms for similar financings at the time such Indebtedness is incurred; 

(f) Indebtedness of any Person that becomes a Subsidiary pursuant to an Investment permitted by Section 7.7 (and any
guarantee by any Loan Party thereof), so long as (i) at the time of the incurrence or issuance of such Indebtedness, no Default or Event of Default shall have occurred and be continuing or would result therefrom, (ii) such Indebtedness
existed at the time of such Investment and was not created in anticipation thereof, (iii) a certificate of a Responsible Officer of the Borrower stating whether or not such Indebtedness subjects such new Subsidiary to 

  
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 any restriction of the type described in Section 7.13 (disregarding any exceptions
contained in Section 7.13) and setting forth the nature and extent of such restriction shall have been delivered to the Administrative Agent and (iv) the aggregate outstanding principal amount of Indebtedness incurred pursuant to this
clause (f) that is incurred by any Person that is not a Loan Party or that is secured by any Liens shall not exceed $2,000,000,000 at any time; 

(g) Indebtedness of the Borrower or any of its Subsidiaries arising from the honoring by a bank or other financial institution
of a check, draft or similar instrument drawn by the Borrower or such Subsidiary in the ordinary course of business against insufficient funds, so long as such Indebtedness is promptly repaid; 

(h) letters of credit for the account of the Borrower or any of its Subsidiaries obtained other than pursuant to this
Agreement, so long as the aggregate undrawn face amount thereof, together with any unreimbursed reimbursement obligations in respect thereof, does not exceed $1,000,000,000 at any one time; 

(i) unsecured Indebtedness of Holdings; 

(j) Indebtedness incurred pursuant to any sale and leaseback transaction permitted by Section 7.10; 

(k) Indebtedness secured by Liens pursuant to Section 7.3(r) in an aggregate principal amount not to exceed $1,000,000,000the greater of (x) $1,500,000,000 and
(y) 5.00% of Consolidated Net Tangible Assets (measured at the time of the incurrence of any Indebtedness pursuant to this clause (k)) at any one time outstanding; 

(l) additional Indebtedness of the Borrower or any of its Subsidiaries in an aggregate principal amount (for the Borrower and
all Subsidiaries) not to exceed $1,000,000,000the
greater of (x) $1,500,000,000 and (y) 5.00% of Consolidated Net Tangible Assets (measured at the time of incurrence of any Indebtedness pursuant to this clause (l)) at any one time
outstanding; 
 (m) Indebtednesss pursuant to a Permitted Securitization Financing; and 

(n) Indebtedness in respect of First Lien Notes (and Guarantee Obligations of any Guarantor in respect thereof) or Pre-Existing
Debt that is secured on a pari passu basis with the Obligations so long as at the time of incurrence (or provision of equal and ratable security) (i) no Default or Event of Default has occurred and is continuing and (ii) immediately after
giving effect to the issuance or assumption of such First Lien Notes and any substantially concurrent application of the Net Cash Proceeds therefrom (if any) or incurrence (or provision of equal and ratable security) in respect of such Pre-Existing
Debt, the aggregate principal amount of outstanding Term Loans, First Lien Notes and equally and ratably secured Pre-Existing Debt would not exceed the First Lien Term Cap. 

7.3. Liens. Create, incur, assume or suffer to exist any Lien upon any of its property, whether now owned or hereafter acquired, except:

 (a) Liens for taxes, assessments and other governmental charges not yet due or that are being contested in good faith by
appropriate proceedings, provided that adequate reserves with respect thereto are maintained on the books of Holdings, the Borrower or its Subsidiaries, as the case may be, in conformity with GAAP; 

  
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 (b) carriers’, warehousemen’s, mechanics’,
materialmen’s, repairmen’s or other like Liens arising in the ordinary course of business that are not overdue for a period of more than 30 days or that are being contested in good faith by appropriate proceedings; 

(c) pledges or deposits in connection with workers’ compensation, insurance and social security legislation; 

(d) deposits made to secure the performance of bids, tenders, trade contracts, leases, statutory or regulatory obligations,
surety and appeal bonds, bankers acceptances, government contracts, performance bonds and other obligations of a like nature incurred in the ordinary course of business, in each case excluding obligations for borrowed money; 

(e) easements, rights-of-way, municipal and zoning ordinances, title defects, restrictions and other similar encumbrances
incurred in the ordinary course of business that, in the aggregate, are not substantial in amount and that do not in any case materially detract from the value of the property subject thereto or materially interfere with the ordinary conduct of the
business of Holdings, the Borrower or any of its Subsidiaries; 
 (f) Liens securing (i) Indebtedness of the Borrower or
any of its Subsidiaries incurred pursuant to Section 7.2(d) to finance the acquisition of fixed or capital assets, provided that (A) such Liens shall be created substantially simultaneously with the acquisition of such fixed or
capital assets, (B) such Liens do not at any time encumber any property other than the property financed by such Indebtedness and (C) the amount of Indebtedness secured thereby is not increased or (ii) Indebtedness of any Excluded
Acquired Subsidiary permitted under Section 7.2(f) so long as such Liens do not at any time encumber any property other than the property of Excluded Acquired Subsidiaries; 

(g) [Reserved]; 

(h) Liens created pursuant to the Guarantee and Collateral Agreement securing obligations of the Loan Parties under
(i) the Loan Documents, (ii) Specified Hedge Agreements, (iii) Specified Cash Management Agreement and (iv) letters of credit issued pursuant to Section 7.2(h) by any Lender or any Affiliate of any Lender; 

(i) any landlord’s Lien or other interest or title of a lessor under any lease or a licensor under a license entered into
by the Borrower or any of its Subsidiaries in the ordinary course of its business and covering only the assets so leased or licensed; 

(j) Liens created under Pole Agreements on cables and other property affixed to transmission poles or contained in underground
conduits; 
 (k) Liens of or restrictions on the transfer of assets imposed by any Governmental Authority or other
franchising authority, utilities or other regulatory bodies or any federal, state or local statute, regulation or ordinance, in each case arising in the ordinary course of business in connection with franchise agreements or Pole Agreements; 

(l) Liens arising from judgments or decrees not constituting an Event of Default under Section 8.1(i); 

(m) Liens arising under or in connection with any sale and leaseback transaction permitted by Section 7.10; 

  
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 (n) Liens on cash collateral securing obligations of the Borrower and its
Subsidiaries in respect of Hedge Agreements that are not entered into for speculative purposes and letters of credit issued pursuant to Section7.2(h); 

(o) junior Liens on assets constituting Collateral under the Guarantee and Collateral Agreement securing Indebtedness of the
Borrower or any Guarantor incurred pursuant to Section 7.2(e), which Liens shall be subordinated to the Liens securing the Obligations pursuant to a Junior Lien Intercreditor Agreement; 

(p) [Reserved] 

(q) Liens on Securitization Assets securing or transferred pursuant to any Permitted Securitization Financing; 

(r) Liens not otherwise permitted by this Section (which Liens may, at the option of the Borrower, rank pari passu to the Liens
securing the Obligations pursuant to a First Lien Intercreditor Agreement) so long as the aggregate outstanding principal amount of the obligations secured thereby does not exceed
$1,000,000,000the greater of (x) $1,500,000,000
and (y) 5.00% of Consolidated Net Tangible Assets (measured at the time any such obligations are secured pursuant to this clause (r)) at any one time outstanding; and 

(s) Liens on assets of Holdings, the Borrower or any Guarantor in each case constituting Collateral under the Guarantee and
Collateral Agreement that are subject to the terms of a First Lien Intercreditor Agreement securing Indebtedness permitted by Section 7.2(n). 

7.4. Fundamental Changes. Enter into any merger, consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any
liquidation or dissolution), or Dispose of all or substantially all of its property or business, except that: 
 (a) (i) any
Subsidiary of the Borrower may be merged or consolidated with or into any Wholly Owned Subsidiary Guarantor (provided that the Wholly Owned Subsidiary Guarantor shall be the continuing or surviving entity) and (ii) any Wholly Owned
Subsidiary of the Borrower that is not a Subsidiary Guarantor may be merged or consolidated with or into any Wholly Owned Subsidiary of the Borrower; 

(b) any Subsidiary of the Borrower with no operations may be merged or consolidated with or into the Borrower (provided
that the Borrower shall be the continuing or surviving entity); 
 (c) (i) any Subsidiary of the Borrower may Dispose of any
or all of its assets (upon voluntary liquidation or otherwise) to any Wholly Owned Subsidiary Guarantor and (ii) any Subsidiary may dispose of any or all of its assets to any other Person to effect a Disposition permitted by Section 7.5(f)
or Section 7.5(l); 
 (d) any Shell Subsidiary may be liquidated or dissolved or otherwise cease to exist; and 

(e) so long as no Default or Event of Default has occurred or is continuing or would result therefrom, Holdings or the Borrower
may merge or consolidate with any other Person; provided that (i) Holdings or the Borrower, as applicable, shall be the continuing or surviving corporation or (ii) if the Person formed by or surviving any such merger or
consolidation is not 

  
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Holdings or the Borrower, as applicable (any such Person, the “Successor Company”), (A) the Successor Company shall be an entity organized or existing under the Laws of the
United States, any state thereof, the District of Columbia or any territory thereof, (B) the Successor Company shall expressly assume all the obligations of Holdings or the Borrower, as applicable, under this Agreement and the other Loan
Documents to which Holdings or the Borrower, as applicable, is a party pursuant to a supplement hereto or thereto in form reasonably satisfactory to the Administrative Agent, (C) each Guarantor, unless it is the other party to such merger or
consolidation, shall have by a supplement to the Guarantee and Collateral Agreement and other applicable Loan Documents confirmed that its obligations thereunder shall apply to the Successor Company’s obligations under the Loan Documents,
(D) the Borrower shall have delivered to the Administrative Agent an officer’s certificate stating that such merger or consolidation and such supplement to this Agreement or any Collateral Document comply with this Agreement and
(E) the Administrative Agent shall have received such legal opinions, certificates and other documents as it may reasonably request; provided, further, that if the foregoing are satisfied, the Successor Company will succeed to,
and be substituted for, Holdings or the Borrower, as applicable, under this Agreement. 
 7.5. Disposition of Property. Dispose of any
of its property, whether now owned or hereafter acquired, or, in the case of any Subsidiary, issue or sell any Equity Interests to any Person, except: 

(a) the Disposition of obsolete, surplus or worn out property in the ordinary course of business; 

(b) Dispositions of cash and Cash Equivalents, and the sale of inventory in the ordinary course of business; 

(c) Dispositions expressly permitted by Section 7.4; 

(d) (i) the sale or issuance of any Subsidiary’s Equity Interests to the Borrower or any Wholly Owned Subsidiary
Guarantor and (ii) the sale or issuance of the Equity Interests of any Subsidiary of the Borrower that is not a Subsidiary Guarantor to any other Subsidiary of the Borrower that is not a Subsidiary Guarantor; 

(e) the sale or issuance of any Subsidiary’s Equity Interests to a Designated Holding Company; provided that
(i) such Equity Interests are contributed as a capital contribution to the direct parent of such Subsidiary on the date of such sale or issuance (and, if such parent is a Wholly Owned Subsidiary such parent shall remain a Wholly Owned
Subsidiary after such contribution) and (ii) no DHC Default shall have occurred and be continuing or would result therefrom; 

(f) the Disposition (directly or indirectly through the Disposition of 100% of the Equity Interests of a Subsidiary) of
operating assets by the Borrower or any of its Subsidiaries (it being understood that all Exchange Excess Amounts shall be deemed to constitute usage of availability in respect of Dispositions pursuant to this Section 7.5(f)), provided
that (i) on the date of such Disposition (the “Disposition Date”; it being understood that, with respect to a series of related Dispositions required pursuant to a plan of Dispositions contained in a single agreement, the
Disposition Date shall be the date of the first such Disposition), no Default or Event of Default shall have occurred and be continuing or would result therefrom; (ii) all such Dispositions pursuant to this clause (f) shall not exceed an
amount equal to 50% of Total Assets as of the last day of the Test Period then most recently ended; (iii) except in the case of any Exchange, at least 

  
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 75% of the proceeds of such Disposition shall be in the form of cash (provided,
however, that, for the purposes of this clause (f), any Designated Non-Cash Consideration received by the Borrower or any of its Subsidiaries in any Disposition pursuant to this clause (f) having an aggregate fair market value, taken
together with all other Designated Non-Cash Consideration received in connection with any other Disposition pursuant to this clause (f) that is at that time outstanding, not to exceed the greater of $2,000,000,000 and 3.00% of Total Assets
(with the fair market value of each item of Designated Non-Cash Consideration being measured at the time received and without giving effect to subsequent changes in value) will be deemed to be cash); and (iv) the Net Cash Proceeds of such
Disposition shall be applied to prepay the Term Loans to the extent required by Section 2.9(a); 
 (g) any Exchange by
the Borrower and its Subsidiaries; provided that (i) on the relevant Exchange Date, no Default or Event of Default shall have occurred and be continuing or would result therefrom; (ii) in the event that the Annualized Asset Cash
Flow Amount attributable to the assets being Exchanged exceeds the annualized asset cash flow amount (determined in a manner comparable to the manner in which Annualized Asset Cash Flow Amounts are determined hereunder) of the assets received in
connection with such Exchange (such excess amount, an “Exchange Excess Amount”), then, the Disposition of such Exchange Excess Amount shall be permitted by clauses (ii) and (iii) of Section 7.5(f); and (iii) the
Net Cash Proceeds of such Exchange, if any, shall be applied to prepay the Term Loans to the extent required by Section 2.9(a); 

(h) Dispositions by the Borrower and its Subsidiaries of property acquired after the Restatement Effective Date (other than
property acquired in connection with Exchanges of property owned on the Restatement Effective Date), so long as (i) no Default or Event of Default shall have occurred and be continuing or would result therefrom, (ii) a definitive agreement
to consummate such Disposition is executed no later than twelve months after the date on which relevant property is acquired and (iii) such Disposition is consummated within eighteen months after the date on which the relevant property is
acquired; 
 (i) Dispositions consisting of capital contributions permitted by Section 7.7(h); 

(j) the Disposition by the Borrower and its Subsidiaries of other property having a fair market value not to exceed $10,000,000
in the aggregate for any fiscal year of the Borrower (it being understood that a release in accordance with Section 10.14 of any Collateral Disposed of pursuant to this clause (j) shall not be required and upon consummation of a
Disposition permitted by this clause (j), the Lien of the Administrative Agent shall be automatically released on the property disposed of); 

(k) Dispositions of Investments permitted by Section 7.7(h); provided that (i) no Default or Event of Default
shall have occurred and be continuing or would result therefrom and (ii) such Disposition is made for fair market value; and 

(l) Dispositions of Securitization Assets pursuant to a Permitted Securitization Financing. 

It is understood that this Section 7.5 does not apply to the sale or issuance of the Equity Interests of the Borrower. 

  
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 7.6. Restricted Payments. Declare or pay any dividend (other than dividends payable
solely in common stock of the Person making such dividend) on, or make any payment on account of, or set apart assets for a sinking or other analogous fund for, the purchase, redemption, defeasance, retirement or other acquisition of, any Equity
Interests of Holdings, the Borrower or any Subsidiary, whether now or hereafter outstanding, or make any other distribution in respect thereof, either directly or indirectly, whether in cash or property or in obligations of Holdings, the Borrower or
any Subsidiary (collectively, “Restricted Payments”), except that: 
 (a) (i) any Subsidiary may make
Restricted Payments to the Borrower or any Wholly Owned Subsidiary Guarantor, (ii) any Subsidiary of the Borrower that is not a Subsidiary Guarantor may make Restricted Payments to any other Subsidiary of the Borrower and (iii) if such
Subsidiary is not a Wholly Owned Subsidiary, any Subsidiary may make Restricted Payments to each holder of its Equity Interests other than the Borrower or any of its Subsidiaries so long as such Restricted Payment is made on a pro rata basis to the
holders of the applicable class of Equity Interests; 
 (b) the Borrower may make distributions (directly or indirectly) to
any Qualified Parent Company or any Affiliate of the Borrower for the purpose of enabling such Person to make interest payments or dividend payments in respect of its Qualified Indebtedness (other than interest or dividends that become due as a
result of the acceleration of the maturity of such Indebtedness after an event of default or similar event), provided that (i) no Default or Event of Default shall have occurred and be continuing or would result therefrom, (ii) no
DHC Default shall have occurred and be continuing or would result therefrom (unless the use of proceeds of such distribution cures all such DHC Defaults) and (iii) each such distribution shall be made no earlier than 30 days prior to the date
the relevant interest payment or dividend payment is due; 
 (c) the Borrower may make distributions to any Qualified Parent
Company to be used to repay, repurchase, redeem, cancel or otherwise acquire or retire (collectively, “Debt Repayment”) any such Person’s Indebtedness; provided that (i) no Default or Event of Default shall have
occurred and be continuing or would result therefrom, (ii) no DHC Default shall have occurred and be continuing or would result therefrom (unless the use of proceeds of such distribution cures all such DHC Defaults), (iii) Available Liquidity shall, after giving pro forma effect to such distribution, be at least $250,000,000 and (iv) and (iii) such distribution shall be made no earlier than 60 days prior to
the date the relevant Debt Repayment is made; 
 (d) (i) in respect of any calendar year or portion thereof during
which the Borrower is a Flow-Through Entity (a “Flow-Through Tax Period”), so long as no Default or Event of Default has occurred and is continuing or would result therefrom, and without duplication of Section 7.7(k), the
Borrower may make distributions (directly or indirectly) to the direct or indirect holders of the Equity Interests of the Borrower, in an amount sufficient to permit each such holder to make Permitted Tax Payments; provided that, for the avoidance
of doubt, the Borrower may make distributions pursuant to this clause (i) during periods that are not Flow-Through Tax Periods to the extent Permitted Tax Payments relating to any Flow-Through Tax Period subsequently arise as the result of an
audit, proceeding or other adjustment; and (ii) in respect of any calendar year or portion thereof where subclause (i) does not apply but during which the Borrower or any of its Subsidiaries is a member of a consolidated, unitary, combined
or similar income tax group of which CCI (or any direct or indirect Subsidiary of CCI that is a parent company of the Borrower) is the common parent, without duplication of Section 7.7(k), the Borrower may make distributions (directly or
indirectly) to the common parent, the proceeds of which will be used to make Permitted Tax Payments attributable to the relevant attributes of the Borrower and/or its Subsidiaries (as applicable) in an amount not to exceed the Permitted Tax Payments
that would have been payable by the Borrower and/or its Subsidiaries (as applicable) on a stand-alone basis, reduced by any such Permitted Tax Payments made directly by the Borrower and/or its Subsidiaries; 

  
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 (e) so long as no Default or Event of Default has occurred and is continuing
or would result therefrom, the Borrower may make distributions to any of its Affiliates; provided that the aggregate of all distributions made under this Section 7.6(e) shall not exceed $1,000,000,000 during the term of this Agreement;

 (f) so long as no Default or Event of Default has occurred and is continuing or would result therefrom, the Borrower may
make distributions to any Qualified Parent Company or direct payments to be used to repurchase, redeem or otherwise acquire or retire for value any Equity Interests of any Qualified Parent Company held by any member of management of Holdings or any
other Qualified Parent Company, the Borrower or any of its Subsidiaries pursuant to any management equity subscription agreement, stock option agreement or similar agreement or arrangement, provided that the aggregate amount of such distributions
shall not exceed $150,000,000 in any fiscal year of the Borrower; 
 (g) the Borrower may make distributions to any Qualified
Parent Company to permit such Qualified Parent Company to pay (i) attorneys’ fees, investment banking fees, accountants’ fees, underwriting discounts and commissions and other customary fees and expenses (including any commitment and
other fees payable in connection with credit facilities) actually incurred in connection with any issuance, sale or incurrence by such Qualified Parent Company of Equity Interests or Indebtedness, any exchange of securities or a tender for
outstanding debt securities or any actual or proposed Investment, (ii) the costs and expenses of any offer to exchange privately placed securities in respect of the foregoing for publicly registered securities or any similar concept having a
comparable purpose, (iii) other administrative expenses (including legal, accounting, other professional fees and costs, printing and other such fees and expenses) incurred in the ordinary course of business, in an aggregate amount in the case
of this clause (iii) not to exceed $5,000,000 in any fiscal year or (iv) all or a portion of the consideration payable for any Investment that would have been permitted to be made by the Borrower pursuant to Section 7.7, including,
without limitation, (A) all payments required to be made with respect to the Bright House Acquisition Transactions pursuant to the Bright House Transaction Agreements (including, without limitation, all post-acquisition payments pursuant to the
Bright House Transaction Agreements) and (B) all payments pursuant to agreements entered into in connection with any such Investment (including, without limitation, post-acquisition payments required to be made in connection with purchase price
adjustments or the utilization of tax assets); provided that (a) the assets or Equity Interests acquired in such Investment (to the extent of amounts distributed by the Borrower to enable such Qualified Parent Company to make such
Investment) are promptly contributed to the capital of (or otherwise transferred to) the Borrower or a Subsidiary and (b) such Investment shall be deemed for purposes of Section 7.7 to be an Investment by the Borrower; 

(h) so long as no Default or Event of Default has occurred and is continuing or would result therefrom, the Borrower may make
Restricted Payments in the amount of any payment or amount received, directly or indirectly, by it from any Non-Recourse Subsidiary (other than an Escrow Borrower) concurrently with the receipt of such payment or amount; 

(i) the Borrower and its Subsidiaries may make Restricted Payments; provided that (i) no Default or Event of
Default has occurred and is continuing or would result therefrom and (ii) the Consolidated Leverage Ratio determined as of the last day of the most recently ended Test Period for which financial statements were required to have been delivered
pursuant to Section 6.1(a) or (b), as applicable, after giving pro forma effect to such Restricted Payment, is less than or equal to 3.50:1.00; 

  
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 (j) the Borrower and its Subsidiaries may make Restricted Payments for
purposes of making interest payments or paying any premium in connection with any Indebtedness of any Affiliate of the Borrower that is incurred by any Escrow Borrower or any other special purpose entity formed for purposes of being the issuer of
such Indebtedness during any period where the proceeds of such Indebtedness are held in escrow pursuant to escrow arrangements, and, in the case of Incremental Term Loans, if an Escrow Borrower has assumed the obligations of the Borrower with
respect to any Incremental Term Loans originally funded to the Borrower resulting in such Incremental Term Loans becoming Escrow Term Loans, additional Restricted Payments in an amount not to exceed the principal amount of such Escrow Term Loans;

 (k) the Borrower and its Subsidiaries may make any Restricted Payment in an amount not to exceed the Available Amount at
the time such Restricted Payment is made so long as no Default or Event of Default has occurred and is continuing or would result therefrom; and 

(l) the Borrower and its Subsidiaries may make any Restricted Payment as part of a Permitted Securitization Financing. 

7.7. Investments. Make any advance, loan, extension of credit (by way of guaranty or otherwise) or capital contribution to, or purchase
any Equity Interests, bonds, notes, debentures or other debt securities of, or any assets constituting a significant part of a business unit of, or make any other investment in, any Person (all of the foregoing, “Investments”),
except: 
 (a) extensions of trade credit in the ordinary course of business; 

(b) investments in Cash Equivalents; 

(c) Guarantee Obligations permitted by Section 7.2; 

(d) loans and advances to employees of the Borrower or any of its Subsidiaries in the ordinary course of business (including
for travel, entertainment and relocation expenses) in an aggregate amount not to exceed $25,000,000 at any one time outstanding; 

(e) Investments (including capital expenditures) (i) by the Borrower or any of its Subsidiaries in (x) the Borrower
or any Subsidiary that, prior to such Investment, is a Wholly Owned Subsidiary Guarantor, or (y) any then existing Subsidiary that is not a Subsidiary Guarantor if such Subsidiary becomes a Wholly Owned Subsidiary Guarantor concurrently with
the making of such Investment and (ii) by any Subsidiary of the Borrower that is not a Subsidiary Guarantor in any other Subsidiary of the Borrower that is not a Subsidiary Guarantor; 

(f) acquisitions by the Borrower or any Wholly Owned Subsidiary Guarantor of operating assets (substantially all of which
pertain to a Permitted Line of Business), directly through an asset acquisition or indirectly through the acquisition of the Equity Interests of a Person substantially engaged in a Permitted Line of Business (when after giving effect to the
acquisition of such Equity Interests, the Borrower and its Wholly Owned Subsidiary Guarantors will own 100% of the Equity Interests of such Person), provided, that (i) no Default or Event of Default shall have occurred and be continuing
or would result therefrom and (ii) at no time shall the aggregate Consideration paid during the period from the date of consummation of the Acquisition Transactions through such time in connection with any such acquisitions of Equity Interests
of Persons who, together with their Subsidiaries, are not Wholly Owned Subsidiary Guarantors at such time, exceed $2,000,000,000; 

  
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 (g) the Borrower or any of its Subsidiaries may (x) contribute
operating assets to any Non-Recourse Subsidiary (other than an Escrow Borrower) so long as (i) such Disposition is permitted pursuant to Section 7.5(f), (ii) no Default or Event of Default shall have occurred and be continuing or
would result therefrom, (iii) after giving effect thereto, the Consolidated Leverage Ratio shall be equal to or lower than the Consolidated Leverage Ratio in effect immediately prior thereto and (iv) the Equity Interests received by the
Borrower or any of its Subsidiaries in connection therewith shall be pledged as Collateral (either directly or through a holding company parent of such Non-Recourse Subsidiary so long as such parent is a Wholly Owned Subsidiary Guarantor) and
(y) make investments to consummate or otherwise pursuant to any Permitted Securitization Financing; 
 (h) in addition
to Investments otherwise expressly permitted by this Section, Investments by the Borrower or any of its Subsidiaries in an aggregate amount outstanding at any time (initially valued at cost and giving effect to all payments received in respect
thereof whether constituting dividends, prepayment, interest, return on capital or principal or otherwise unless such payments are from a Non-Recourse Subsidiary (other than an Escrow Borrower) and applied to make a Restricted Payment under
Section 7.6(h) or an Investment under Section 7.7 (l) or 7.7(m)), not to exceed the sum of $300,000,000the greater of (x) $300,000,000 and (y) 1.00% of Consolidated Net Tangible Assets (measured at the time of any Investment pursuant
to this clause (h)) plus the aggregate amount of cash and assets (valued at fair market value) contributed by any Designated Holding Company to the Borrower after April 27, 2004 in the
form of common equity; provided, that (i) no such Investment may be made at any time when a Default or Event of Default has occurred and is continuing or would result therefrom, and
(ii) none of the proceeds of such Investment may be used directly or indirectly to repay, repurchase, redeem or otherwise acquire or retire for value Indebtedness of any Qualified Parent Company or otherwise in a manner that would be prohibited
by Section 7.6 if the Borrower or any Subsidiary (directly or indirectly) used such proceeds in such manner and (iii) Available Liquidity, shall, after giving
pro forma effect to such Investment, be at least $250,000,000; 

(i) any Excluded Acquired Subsidiary may make investments in any other Excluded Acquired Subsidiary; 

(j) the Borrower may purchase or otherwise acquire Indebtedness of a Qualified Parent Company in connection with any Debt
Repayment so long as (i) such Debt Repayment is consummated within 60 days after such purchase, (ii) the amount expended to effectuate such purchase (or, in the case of a debt-for-debt exchange, the principal amount of the Indebtedness
issued in exchange for such Qualified Parent Company Indebtedness) could, on the date such purchase is made (the “Test Date”), have been distributed to a Qualified Parent Company to effectuate a Debt Repayment pursuant to
Section 7.6(c), and (iii) on the date such Debt Repayment is consummated, no Default or Event of Default shall have occurred and be continuing; 

(k) loans or advances to any direct or indirect parent company of the Borrower in lieu of Restricted Payments permitted by
Section 7.6(d); 

  
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 (l) so long as no Default or Event of Default has occurred and is continuing
or would result therefrom, the Borrower and its Subsidiaries may make Investments in any Non-Recourse Subsidiary with the proceeds of distributions from any Non-Recourse Subsidiary (other than an Escrow Borrower) concurrently with the receipt of
such proceeds; 
 (m) the Borrower and its Subsidiaries may contribute operating assets to a Wholly Owned Subsidiary,
provided that (i) no Default or Event of Default has occurred and is continuing or would result therefrom, (ii) a binding Contractual Obligation with a counterparty other than a member of the Charter Group to Dispose of such assets
or Wholly Owned Subsidiary is in effect at the time of such contribution, (iii) such Disposition is consummated in accordance with Section 7.5(f) within five Business Days of such contribution or, if such Disposition is not so consummated,
then within eight Business Days of such contribution such contribution is reversed or such Wholly Owned Subsidiary complies with Section 6.9 and (iv) such Wholly Owned Subsidiary shall not make any Investments with such assets or the
proceeds thereof, including pursuant to Section 7.7(e)(ii) or (iv); 
 (n) Investments by the Borrower and its
Subsidiaries in any Escrow Borrower or other Non-Recourse Subsidiary for purposes of funding original issue discount, upfront fees, redemption or repayment premium and interest with respect to any Escrow Incremental Term Loans or debt securities
issued pursuant to escrow arrangements, in each case, to the extent such Escrow Incremental Term Loans and debt securities are intended to provide a portion of the funds to finance the Acquisition Transactions or any other Investment so long as the
assets or Equity Interests to be acquired with the proceeds of such Escrow Incremental Term Loans or debt securities issued pursuant to escrow arrangements are promptly contributed or otherwise transferred to the Borrower or a Subsidiary promptly
upon the use of such proceeds, and, in the case of Incremental Term Loans, if such Escrow Borrower has assumed the obligations of the Borrower with respect to any Incremental Term Loans originally funded to the Borrower resulting in such Incremental
Term Loans becoming Escrow Term Loans, additional Investments in an amount not to exceed the principal amount of such Escrow Term Loans; 

(o) the Borrower and its Subsidiaries may make any Investment in an amount not to exceed the Available Amount at the time such
Investment is made so long as no Default or Event of Default has occurred and is continuing or would result therefrom. 
 7.8. Certain
Payments and Modifications Relating to Indebtedness and Management Fees. 
 (a) Make or offer to make any payment, prepayment,
repurchase, purchase or redemption in respect of, or otherwise optionally or voluntarily defease or segregate funds with respect to (collectively, “prepayment”), any Specified Long-Term Indebtedness prior to the scheduled final maturity
thereof, other than (i) the payment of scheduled interest and principal payments required to be made in cash, (ii) the prepayment of Specified Subordinated Debt with the proceeds of other Specified Long-Term Indebtedness or of Loans or
with cash on hand, (iii) the prepayment of any Specified Long-Term Indebtedness with the proceeds of other Specified Long-Term Indebtedness, so long as such new Indebtedness has covenants and event of default provisions no more restrictive in
any material respect than those applicable to the Indebtedness being refinanced, (iv) the prepayment of any Specified Long-Term Indebtedness with the proceeds of substantially concurrent capital contributions made to Holdings, and then
contributed to the Borrower, in each case in the form of common equity, (v) the prepayment of any Specified Long-Term Indebtedness effected solely by exchanging such debt for Indebtedness of a Qualified Parent Company, (vi) the prepayment
of Specified Long-Term Indebtedness so long as (x) no 

  
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Default or Event of Default has occurred and is continuing or would result therefrom and (y) Available Liquidity shall,
after giving pro forma effect to such prepayment, be at least $250,000,000 and (vii) additional prepayments of Specified Long-Term
Indebtedness in an amount not to exceed the Available Amount at the time such prepayment is made so long as no Default of Event of Default has occurred and is continuing or result therefrom. 

(b) Amend, modify, waive or otherwise change, or consent or agree to any amendment, modification, waiver or other change to any of the terms of
any Specified Long-Term Indebtedness in a manner, taken as a whole, that would be materially adverse to the Lenders; provided that no such amendment, modification, waiver or other change will be materially adverse to the Lenders if, after
giving effect to such amendment, modification, waiver or other change, such Specified Long-Term Indebtedness would have been permitted to be incurred hereunder on the effective date of such amendment, modification, waiver or other change. 

(c) Make or agree to make any payment in respect of management fees to any Person, directly or indirectly, other than (i) to the Borrower
or a Wholly Owned Subsidiary Guarantor, (ii) any amounts required to be paid or reimbursed to the manager under the Management Fee Agreement with respect to actual costs, fees, expenses, and other similar amounts thereunder, without any mark-up
or premium and (ii) pursuant to a Permitted Securitization Financing. 
 (d) Amend, modify, waive or otherwise change, or consent or
agree to any amendment, modification, waiver or other change to, any of the terms of the Management Fee Agreement, other than any such amendment, modification, waiver or other change that (i) (x) would extend the due date or reduce (or
increase to the amount permitted by Section 7.8(c)) the amount of any payment thereunder or (y) does not adversely affect the interests of the Lenders (it being understood that a change in the manager thereunder to another member of the
Charter Group or a renewal of such agreement does not adversely affect the interests of the Lenders) and (ii) does not involve the payment of a consent fee. 

7.9. Transactions with Affiliates. Enter into any transaction, including any purchase, sale, lease or exchange of property, the
rendering of any service or the payment of any management, advisory or similar fees, with any Affiliate (other than transactions between or among Holdings, the Borrower or any Subsidiary) unless such transaction is (a) not prohibited under this
Agreement and (b) upon fair and reasonable terms no less favorable to the Borrower or such Subsidiary, as the case may be, in any material respect than it would obtain in a comparable arm’s length transaction with a Person that is not an
Affiliate. The foregoing restrictions shall not apply to (i) transactions expressly permitted by Section 7.6, Section 7.7(g)(y), Section 7.7(h) or Section 7.8(c), (ii) amounts paid under the Management Fee Agreement,
(iii) the entry into or performance of obligations under any customary tax sharing agreement, (iv) transactions with a Person that is an Affiliate solely as a result of the Borrower’s or any Subsidiary’s ownership of Equity
Interests of, or other Investments in, such Person, (v) employment agreements entered into by the Borrower and its Subsidiaries in the ordinary course of business, (vi) payment of reasonable directors fees and customary indemnification and
insurance arrangements in favor of directors and officers and (vii) transactions with an Escrow Borrower, including any Escrow Funding Assignment, any Escrow Assumption and the entrance into any agreements related thereto so long as the
proceeds of any related Indebtedness of the assets or Equity Interest acquired therewith are promptly contributed or otherwise transferred to the Borrower or a Subsidiary promptly upon the use of such proceeds. 

  
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 7.10. Sales and Leasebacks. Enter into any arrangement with any Person (other than
Subsidiaries of the Borrower) providing for the leasing by the Borrower or any Subsidiary of real or personal property that has been or is to be sold or transferred by the Borrower or such Subsidiary to such Person or to any other Person to whom
funds have been or are to be advanced by such Person on the security of such property or rental obligations of the Borrower or such Subsidiary unless, after giving effect thereto, the aggregate outstanding amount of Attributable Debt does not exceed
$500,000,000. 
 7.11. [Reserved]. 

7.12. Negative Pledge Clauses. Enter into or suffer to exist or become effective any agreement that prohibits or limits the ability of
Holdings, the Borrower or any of its Subsidiaries to create, incur, assume or suffer to exist any Lien upon any of its property or revenues, whether now owned or hereafter acquired, to secure obligations under this Agreement or the other Loan
Documents (to the extent that such limitation would have the effect of prohibiting Holdings, the Borrower or any of its Subsidiaries from granting a Lien on any of its assets to secure all obligations under this Agreement and the other Loan
Documents in respect of a principal amount of Indebtedness that is not greater than the excess of (i) (x) the First Lien Term Cap on the Restatement Effective Date plus (y) the Revolving Commitment Cap minus (ii) the principal
amount of First Lien Notes at any time and the principal amount of Indebtedness repaid under this Agreement from the proceeds of asset sales and casualty events) other than (a) this Agreement and the other Loan Documents, (b) any
agreements governing any purchase money Liens or Finance Lease Obligations otherwise permitted hereby (in which case, any prohibition or limitation shall only be effective against the assets financed thereby), (c) pursuant to Contractual
Obligations assumed in connection with Investments (but not created in contemplation thereof) so long as the maximum aggregate liabilities of Holdings, the Borrower and its Subsidiaries pursuant thereto do not exceed $10,000,000 at any time,
(d) [Reserved], (e) pursuant to agreements governing Indebtedness assumed in connection with the acquisition of any Person that becomes a Subsidiary pursuant to Section 7.7(f) or (h) so long as such Indebtedness is permitted
under Section 7.2(f) or (l) and such Indebtedness was not created or incurred in contemplation of such acquisition and such restrictions apply only to such acquired Subsidiary and its Subsidiaries, (f) as contained in any other
agreement governing Indebtedness secured by Liens described in Section 7.3(o) so long as such restrictions are no more onerous in any material respect than those contained in the Loan Documents, (g) as contained in any QPC Indenture as in
effect on the Restatement Effective Date or in any other agreement governing Indebtedness of Holdings described in Section 7.3(e), (i) or (m) or Indebtedness of any Qualified Parent Company, in each case, so long as such restrictions
are no more onerous in any material respect than those contained in any QPC Indenture as in effect on the Restatement Effective Date, (h) customary provisions in leases and licenses entered into in the ordinary course of business or as required
in any franchise permit, (i) customary restrictions in an agreement to Dispose of assets in a transaction permitted under Section 7.5 solely to the extent that such restriction applies solely to the assets to be so Disposed and
(j) restrictions imposed with a Permitted Securitization Financing. 
 7.13. Clauses Restricting Subsidiary Distributions. Enter
into or suffer to exist or become effective any consensual encumbrance or restriction on the ability of any Subsidiary of the Borrower to (a) make Restricted Payments in respect of any Equity Interests of such Subsidiary held by, or pay any
Indebtedness owed to, the Borrower or any other Subsidiary of the Borrower, (b) make loans or advances to, or other Investments in, the Borrower or any other Subsidiary of the Borrower or (c) transfer any of its assets to the Borrower or
any other Subsidiary of the Borrower, except for such encumbrances or restrictions existing under or by reason of (i) any restrictions existing under the Loan Documents, (ii) any restrictions with respect to a Subsidiary imposed pursuant
to an agreement that has been entered into in connection with the Disposition of all or substantially all of the Equity Interests or assets of such Subsidiary in a transaction otherwise permitted by this Agreement, (iii) any restriction
pursuant to a Permitted Securitization Financing, (iv) any restrictions contained in documents governing Indebtedness permitted under Section 7.2(e), (i), (l) or (n) or any other agreement governing Indebtedness 

  
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(including Indebtedness of a Qualified Parent Company or Indebtedness secured by Liens described in Section 7.3(q)) so long as either (x) such restrictions are no more onerous in any
material respect than those contained in the Loan Documents or any QPC Indenture as in effect on the Restatement Effective Date, or (y) the Borrower determines in good faith at the time such documents are entered into that such restrictions are
not likely to result in a material impairment of the ability of the Loan Parties to perform their payment obligations under this Agreement or materially restrict the ability of Subsidiaries that are not Loan Parties to make distributions and
transfers of property to the Loan Parties, (v) any restrictions contained in agreements governing Indebtedness assumed in connection with the acquisition of any Person that becomes a Subsidiary pursuant to Section 7.7(f) or (h) so
long as such Indebtedness is permitted under Section 7.2(f) or (l) and such Indebtedness was not created or incurred in contemplation of such acquisition and such restrictions apply only to such acquired Subsidiary and its Subsidiaries,
(vi) restrictions contained in any agreement governing Indebtedness secured by Liens described in Section 7.3(o) so long as such restrictions are no more onerous in any material respect than those contained in the Loan Documents,
(vii) restrictions contained in any QPC Indenture as in effect on the Restatement Effective Date, (viii) [reserved], (ix) customary restrictions in an agreement to Dispose of assets in a transaction permitted under Section 7.5 to
the extent that such restriction applies solely to such assets, (x) customary anti-assignment provisions in leases and licenses entered into in the ordinary course of business or as required in any franchise permit, and (xi) restrictions
governing Indebtedness permitted under Section 7.2(d) to the extent prohibiting transfers of the assets financed with such Indebtedness. 

7.14. Lines of Business. 

(a) Enter into any business, either directly or through any Subsidiary, except for (i) those businesses in which the Borrower and its
Subsidiaries are engaged on the Restatement Effective Date and (ii) businesses which are reasonably similar or related thereto or reasonable extensions thereof (collectively, “Permitted Lines of Business”). 

(b) [Reserved.] 
 (c) In the case
of Holdings, (i) conduct, transact or otherwise engage in, commit to conduct, transact or otherwise engage in any business or operations other than a Permitted Line of Business, (ii) incur any obligations or liabilities other than
obligations under the Loan Documents, Indebtedness permitted to be incurred by it under Section 7.2 and other customary obligations incidental to its existence and ownership and liabilities and obligations related to the purchase or ownership
of Indebtedness that it is not prohibited from purchasing or owning pursuant to any Loan Document or (iii) use any proceeds or amounts received from the Borrower or any of its Subsidiaries for purposes of enabling it to effect any transaction
prohibited under Section 7.7(h)(ii). 
 (d) In the case of Charter Communications Operating Capital Corp., (i) conduct, transact or
otherwise engage in, commit to conduct, transact or otherwise engage in any business or operations, (ii) own, lease, manage or otherwise operate any properties or assets or (iii) incur any obligations or liabilities other than obligations
under the Loan Documents, Indebtedness under Section 7.2(e) or (k) and other customary obligations incidental to its existence. 

7.15. Investments in the Borrower. In the case of Holdings, make any Investment in the Borrower other than in the form of a capital
contribution or a loan or a Guarantee Obligation in respect of any obligation of the Borrower. 

  
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 SECTION 8 EVENTS OF DEFAULT 

8.1. Events of Default. If any of the following events shall occur and be continuing: 

(a) the Borrower shall fail to pay any principal of any Loan or Reimbursement Obligation when due in accordance with the terms
hereof; or the Borrower shall fail to pay any interest on any Loan or Reimbursement Obligation, or any other amount payable hereunder or under any other Loan Document, within five days after any such interest or other amount becomes due in
accordance with the terms hereof; or 
 (b) any representation or warranty made or deemed made by any Loan Party herein or in
any other Loan Document or that is contained in any certificate, document or financial or other statement furnished by it at any time under or in connection with this Agreement or any such other Loan Document shall prove to have been inaccurate in
any material respect on or as of the date made or deemed made; or 
 (c) any Loan Party shall default in the observance or
performance of any agreement contained in clause (i) or (ii) of Section 6.4(a) (with respect to Holdings and the Borrower only), Section 6.7(a) or Section 7 of this Agreement or Sections 6.4 and 6.5(b) of the Guarantee and
Collateral Agreement; or 
 (d) any Loan Party shall default in the observance or performance of any other agreement
contained in this Agreement or any other Loan Document (other than as provided in paragraphs (a) through (c) of this Section), and such default shall continue unremedied for a period of 30 days after notice to the Borrower from the
Administrative Agent or the Required Lenders; or 
 (e) Holdings, the Borrower or any of its Subsidiaries shall
(i) default in making any payment of any principal of any Indebtedness (including, without duplication, any Guarantee Obligation in respect of Indebtedness, but excluding the Loans) on the scheduled or original due date with respect thereto or
(ii) default in making any payment of any interest on any such Indebtedness beyond the period of grace, if any, provided in the instrument or agreement under which such Indebtedness was created; or (iii) default in the observance or
performance of any other agreement or condition relating to any such Indebtedness or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist, the effect of which default or
other event or condition is to cause, or to permit the holder or beneficiary of such Indebtedness (or a trustee or agent on behalf of such holder or beneficiary) to cause, with the giving of notice if required, such Indebtedness to become due prior
to its stated maturity or (in the case of any such Indebtedness constituting a Guarantee Obligation) to become payable; provided, that, (x) a default, event or condition described in clause (i), (ii) or (iii) of this paragraph
(e) shall not at any time constitute an Event of Default unless, at such time, one or more defaults, events or conditions of the type described in clause (i), (ii) or (iii) of this paragraph (e) shall have occurred and be
continuing with respect to such Indebtedness the outstanding aggregate principal amount of which exceeds $500,000,000 and (y) for the avoidance of doubt, a requirement to make a mandatory offer to repurchase under the terms of any Indebtedness
as a result of a “change of control” (or equivalent term) shall not constitute a Default or an Event of Default under this paragraph (e)(iii) so long as (A) on or prior to the date the events constituting such “change of
control” (or equivalent term) occur, either (I) the terms of such Indebtedness have been amended to eliminate the requirement to make such offer, (II) such Indebtedness has been defeased or discharged so that such requirement shall no
longer apply (and, in the event such “change of control” is subject to a requirement that a specific credit ratings event or similar condition subsequent occur, no Event of Default shall exist pursuant to this paragraph (e)(iii) until such
time as the specific credit ratings event or similar condition subsequent has also occurred resulting in the obligor under such Indebtedness to become unconditionally obligated to make 

  
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such offer) or (III) solely in the case of Indebtedness of any Person acquired by the Borrower or any of its Subsidiaries where such “change of control” (or equivalent term) under such
Indebtedness resulted from the Borrower or one of its Subsidiary’s acquisition of such Person, (x) the sum of Available Liquidity plus any available debt financing commitments from any Revolving Lender or any Affiliate of a Revolving
Lender or any other financial institution of nationally recognized standing available to the Borrower or its Subsidiaries for purposes of refinancing such Indebtedness is at least equal to the aggregate amount that would be required to repay such
Indebtedness pursuant to any required “change of control offer” (or equivalent term) pursuant to the terms of such Indebtedness at all times prior to the expiration of the rights of the holders of such Indebtedness to require the
repurchase or repayment of such Indebtedness as a result of such acquisition and (y) the Borrower or the applicable Subsidiary complies with the provisions of such Indebtedness that are applicable as a result of such acquisition (including by
consummating any required “change of control offer” (or equivalent term) for such Indebtedness); or 
 (f) any
Designated Holding Company other than Holdings shall (i) default in making any payment of any principal of any Indebtedness (including, without duplication, any Guarantee Obligation in respect of Indebtedness) on the scheduled or original due
date with respect thereto or (ii) default in making any payment of any interest on any such Indebtedness or default in the observance or performance of any other agreement or condition relating to any such Indebtedness or contained in any
instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist, if such default or other event or condition, in each case with respect to this clause (ii), results in the acceleration of such
Indebtedness prior to its stated maturity or (in the case of any such Indebtedness constituting a Guarantee Obligation) causes such Indebtedness to become payable; provided, that a default, event or condition described in clause (i) or
(ii) of this paragraph (f) shall not at any time constitute an Event of Default unless, at such time, one or more defaults, events or conditions of the type described in clause (i) or (ii) of this paragraph (f) shall have
occurred and be continuing with respect to such Indebtedness the outstanding aggregate principal amount of which exceeds $500,000,000; or 

(g) (i) any Designated Holding Company, the Borrower or any of its Subsidiaries shall commence any case, proceeding or
other action (A) under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization or relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to
adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts, or (B) seeking appointment of a receiver, trustee,
custodian, conservator or other similar official for it or for all or any substantial part of their assets or any Designated Holding Company, the Borrower or any of its Subsidiaries shall make a general assignment for the benefit of its creditors;
or (ii) there shall be commenced against any Designated Holding Company, the Borrower or any of its Subsidiaries any case, proceeding or other action of a nature referred to in clause (i) above that (A) results in the entry of an
order for relief or any such adjudication or appointment or (B) remains undismissed, undischarged or unbonded for a period of 60 days; or (iii) there shall be commenced against any Designated Holding Company, the Borrower or any of its
Subsidiaries any case, proceeding or other action seeking issuance of a warrant of attachment, execution, distraint or similar process against all or any substantial part of its assets that results in the entry of an order for any such relief that
shall not have been vacated, discharged, or stayed or bonded pending appeal within 60 days from the entry thereof; or (iv) any Designated Holding Company, the Borrower or any of its Subsidiaries shall take any action in furtherance of, or
indicating its consent to, approval of, or acquiescence in, any of the acts set forth in clause (i), (ii), or (iii) above; or (v) any Designated Holding Company, the Borrower or any of its Subsidiaries shall generally not, or shall be
unable to, or shall admit in writing its inability to, pay its debts as they become due; or 

  
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 (h) (i) any “accumulated funding deficiency” (as defined in
Section 302 of ERISA), whether or not waived, shall exist with respect to any Plan or any Lien in favor of the PBGC or a Plan shall arise on the assets of any Loan Party or any Commonly Controlled Entity, (ii) a Reportable Event shall
occur with respect to, or proceedings shall commence to have a trustee appointed, or a trustee shall be appointed, to administer or to terminate, any Single Employer Plan, which Reportable Event or commencement of proceedings or appointment of a
trustee is, in the reasonable opinion of the Required Lenders, likely to result in the termination of such Plan for purposes of Title IV of ERISA, (iii) any Single Employer Plan shall terminate for purposes of Title IV of ERISA or (iv) any
Loan Party or any Commonly Controlled Entity shall, or in the reasonable opinion of the Required Lenders is likely to, incur any liability in connection with a withdrawal from, or the Insolvency or Reorganization of, a Multiemployer Plan; and in
each case in clauses (i) through (iv) above, such event or condition, together with all other such events or conditions, if any, could, in the sole judgment of the Required Lenders, reasonably be expected to have a Material Adverse Effect;
or 
 (i) one or more judgments or decrees shall be entered against Holdings, the Borrower or any of its Subsidiaries
involving in the aggregate a liability (to the extent not paid or fully covered by insurance as to which the relevant insurance company has not declined coverage) of $500,000,000 or more, and all such judgments or decrees shall not have been
vacated, discharged, stayed or bonded pending appeal within 30 days from the entry thereof; or 
 (j) (i) the Guarantee and
Collateral Agreement shall cease, for any reason (other than the gross negligence or willful misconduct of the Administrative Agent), to be in full force and effect with respect to any material portion of the Collateral, or any Loan Party or any
Affiliate of any Loan Party shall so assert, or (ii) any Lien created by the Guarantee and Collateral Agreement shall cease to be enforceable and of the same effect and priority purported to be created thereby with respect to any material
portion of the Collateral (other than in connection with releases in accordance with Section 10.14) or any Loan Party or any Affiliate of any Loan Party shall so assert; or 

(k) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is
that any “person” or “group” (as such terms are used in Section 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended), other than a Qualified Parent Company, has the power, directly or indirectly, to vote or
direct the voting of Equity Interests having more than 50% (determined on a fully diluted basis) of the ordinary voting power for the management of the Borrower (a “Change of Control”); provided that such Change of Control
shall not constitute a Default or Event of Default unless a Ratings Event has occurred within the Ratings Decline Period; or 

(l) a termination or suspension with respect to any CATV Franchises or CATV Systems of the Borrower or any of its Subsidiaries
from the FCC or any Governmental Authority or other franchising authority occurs or the Borrower or any of its Subsidiaries or the grantors of any CATV Franchises or CATV Systems shall fail to renew such CATV Franchises or CATV Systems at the stated
expiration thereof (in each case other than (x) as a result of changes in law or regulation or other circumstances which result in any CATV Franchise no longer being required in connection with operation of the relevant CATV System or
(y) at a time when such 

  
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CATV Franchise is not required for operation of such CATV System) if the percentage represented by such CATV Franchises or CATV Systems and any other CATV Franchises or CATV Systems which are
then so terminated, suspended or not renewed (and which the Borrower or such Subsidiary does not continue to operate and from which systems it does not retain the revenues after the stated termination or expiration) of Consolidated Operating Cash
Flow for the 12-month period preceding the date of the termination, suspension or failure to renew, as the case may be (giving pro forma effect to any acquisitions or Dispositions that have occurred since the beginning of such 12-month
period as if such acquisitions or Dispositions had occurred at the beginning of such 12-month period), would exceed 10%, unless an alternative CATV Franchise or CATV System in form and substance reasonably satisfactory to the Required Lenders shall
have been procured and come into effect prior to or concurrently with the termination or expiration date of such terminated, suspended or non-renewed CATV Franchise or CATV System; or 

(m) except as required or otherwise expressly permitted in this Agreement (i) in the case of any Designated Holding
Company or any Non-Recourse Subsidiary, fail to satisfy customary formalities with respect to organizational separateness,
including, without limitation, (A) the maintenance of separate books and records and (B) the maintenance of separate bank accounts in its own name; (ii) in the case of any Designated Holding Company or any Non-Recourse Subsidiary, fail to act solely in their own names or the names of their managers and through authorized
officers and agents; (iii) in the case of the Borrower or any of its Subsidiaries, make or agree to make any payment to a creditor of any Designated Holding Company or any
Non-Recourse Subsidiary in its capacity as such; or (iv) in the case of any Designated Holding Company, any
Non-Recourse Subsidiary, the Borrower or any of its Subsidiaries, (x) commingle any money or other assets of any Designated Holding Company or any Non-Recourse Subsidiary with any money or other assets of the Borrower or any of its Subsidiaries or (y) take any
action, or conduct its affairs in a manner, which could reasonably be expected to result in the separate organizational existence of each Designated Holding Company or each
Non-Recourse Subsidiary from the Borrower and its Subsidiaries being ignored under any circumstance, and such failure, action, agreement, event, condition or circumstance described in any
clause of this paragraph (m) shall continue unremedied for a period of 30 days after notice to the Borrower from the Administrative Agent or the Required Lenders; 

then, and in any such event, (A) if such event is an Event of Default specified in clause (i) or (ii) of paragraph (g) above with respect
to the Borrower, automatically the Commitments shall immediately terminate and the Loans hereunder (with accrued interest thereon) and all other amounts owing under this Agreement and the other Loan Documents (including all amounts of L/C
Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) shall immediately become due and payable, and (B) if such event is any other Event of Default,
either or both of the following actions may be taken: (i) with the consent of the Required Lenders, the Administrative Agent may, or upon the request of the Required Lenders, the Administrative Agent shall, by notice to the Borrower declare the
Commitments to be terminated forthwith, whereupon the Commitments shall immediately terminate; and (ii) with the consent of the Required Lenders, the Administrative Agent may, or upon the request of the Required Lenders, the Administrative
Agent shall, by notice to the Borrower, declare the Loans hereunder (with accrued interest thereon) and all other amounts owing under this Agreement and the other Loan Documents (including all amounts of L/C Obligations, whether or not the
beneficiaries of the then outstanding Letters of Credit shall have presented the documents required thereunder) to be due and payable forthwith, whereupon the same shall immediately become due and payable. With respect to all Letters of Credit with
respect to which presentment for honor shall not have occurred at the time of an acceleration pursuant to this paragraph, the Borrower shall at such time comply with Section 3.8. Except as expressly provided above in this Section, presentment,
demand, protest and all other notices of any kind are hereby expressly waived by the Borrower. 

  
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 Notwithstanding anything to the contrary herein, solely for the purpose of determining
whether a Default has occurred under clause (g) above, any reference in such clause to any Subsidiary shall be deemed not to include any Subsidiary that is an Immaterial Subsidiary or at such time could, upon designation by the Borrower, become
an Immaterial Subsidiary affected by any event or circumstances referred to in such clause unless the gross revenues of such Subsidiary together with the gross revenues of all other Subsidiaries affected by such event or circumstance referred to in
such clause for the period of four fiscal quarters ending on the date of the most recent balance sheet of the Borrower delivered pursuant to Section 6.1(a) or (b) shall exceed 5% of the gross revenues of the Borrower and its Subsidiaries
for such period, in each case determined in accordance with GAAP. 
 8.2. Application of Funds. After the exercise of remedies
provided for in Section 8.1 (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.1), any
amounts received on account of the Obligations (other than the Equally and Ratably Secured Notes Obligations) shall, subject to the Guarantee and Collateral Agreement and any First Lien Intercreditor Agreement, be applied by the Administrative Agent
in the following order: 
 First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and
other amounts (including fees, charges and disbursements of counsel to the Administrative Agent and amounts payable under Section 2) payable to the Administrative Agent in its capacity as such; 

Second, pro rata to (i) the payment of all other Obligations (other than the Equally and Ratably Secured Notes
Obligations) due and owing to the Secured Parties, ratably among the Secured Parties in proportion to the respective amounts described in this subclause (i) of this clause Second held by them and (ii) the Cash Collateralization of
all Letters of Credit; and 
 Last, the balance, if any, after all of the Obligations have been indefeasibly paid in
full, to the Borrower or as otherwise required by Law. 
 Subject to Section 3.8, amounts used to Cash Collateralize the aggregate
undrawn amount of Letters of Credit pursuant to clause Second above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all Letters of Credit have either
been fully drawn or expired, such remaining amount shall be applied to the other Obligations (other than the Equally and Ratably Secured Notes Obligations), if any, in the order set forth above. 

Notwithstanding the foregoing, Obligations arising under Specified Cash Management Agreements, Specified Hedge Agreements and Non-Facility
Letters of Credit shall be excluded from the application described above to occur on any date if the Administrative Agent has not received written notice thereof, together with such supporting documentation as the Administrative Agent may request,
from the applicable Secured Party providing such Obligations on or prior to such date. 

  
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 SECTION 9 THE AGENTS 

9.1. Appointment. 
 (a)
Each Lender hereby irrevocably designates and appoints the Administrative Agent as the agent of such Lender under this Agreement and the other Loan Documents, and each such Lender irrevocably authorizes the Administrative Agent, in such capacity, to
take such action on its behalf under the provisions of this Agreement and the other Loan Documents and to exercise such powers and perform such duties as are expressly delegated to the Administrative Agent by the terms of this Agreement and the
other Loan Documents, together with such other powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary elsewhere in this Agreement, the Administrative Agent shall not have any duties or responsibilities, except
those expressly set forth herein, or any fiduciary relationship with any Lender, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise
exist against the Administrative Agent. 
 (b) The Administrative Agent shall also act as the “collateral agent” under the Loan
Documents, and each of the Lenders (including in its capacities as a party to a Specified Hedge Agreement or Specified Cash Management Agreement) and the Issuing Lender hereby irrevocably appoints and authorizes the Administrative Agent to act as
the agent of such Lender and the Issuing Lender for purposes of acquiring, holding and enforcing any and all Liens on Collateral granted by any of the Loan Parties pursuant to the Guarantee and Collateral Agreement, together with such powers and
discretion as are reasonably incidental thereto. In this connection, the Administrative Agent, as “collateral agent” and any co-agents, sub-agents and attorneys-in-fact appointed by the Administrative Agent pursuant to Section 9.2 for
purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Guarantee and Collateral Agreement, or for exercising any rights and remedies thereunder at the direction of the Administrative Agent), shall be
entitled to the benefits of all provisions of this Section 9 and Section 10 (including Section 9.7, as though such co-agents, sub-agents and attorneys-in-fact were the “collateral agent” under the Guarantee and Collateral
Agreement) as if set forth in full herein with respect thereto. 
 9.2. Delegation of Duties. The Administrative Agent may execute any
of its duties under this Agreement and the other Loan Documents by or through agents or attorneys in fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties. The Administrative Agent shall not be responsible
for the negligence or misconduct of any agents or attorneys in fact selected by it with reasonable care. 
 9.3. Exculpatory
Provisions. The Administrative Agent shall not have any duties or obligations except those expressly set forth herein and in the other Loan Documents. Without limiting the generality of the foregoing, the Administrative Agent: 

(a) shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is
continuing; 
 (b) shall not have any duty to take any discretionary action or exercise any discretionary powers, except
discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as
shall be expressly provided for herein or in the other Loan Documents), provided that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to
liability or that is contrary to any Loan Document or applicable law; and 

  
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 (c) 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 the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any
of its Affiliates in any capacity. 
 (d) The Administrative Agent shall not be liable for any action taken or not taken by
it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances
as provided in Section 10.1 and Section 8) or (ii) in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until notice describing such
Default is given to the Administrative Agent by the Borrower, a Lender or the Issuing Lender. 
 (e) The Administrative Agent
shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report
or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of
any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document, or the creation, perfection or priority of any Lien purported to be created
by the Guarantee and Collateral Agreement, (v) the value or the sufficiency of any Collateral, or (v) the satisfaction of any condition set forth in Section 5 or elsewhere herein, other than to confirm receipt of items expressly
required to be delivered to the Administrative Agent. 
 9.4. Reliance by Administrative Agent. The Administrative Agent shall be
entitled to rely, and shall be fully protected in relying, upon any instrument, writing, resolution, notice, consent, certificate, affidavit, letter, telecopy, telex or teletype message, statement, order or other document or conversation believed by
it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including counsel to Holdings or the Borrower), independent accountants and other experts selected by
the Administrative Agent. The Administrative Agent may deem and treat the payee of any Note as the owner thereof for all purposes unless a written notice of assignment, negotiation or transfer thereof shall have been filed with the Administrative
Agent. The Administrative Agent shall be fully justified in failing or refusing to take any action under this Agreement or any other Loan Document unless it shall first receive such advice or concurrence of the Required Lenders (or, if so specified
by this Agreement, all Lenders) as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense that may be incurred by it by reason of taking or continuing to take any such
action. The Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Required Lenders (or, if so specified by this
Agreement, all Lenders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders and all future holders of the Loans. 

9.5. Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or
Event of Default unless the Administrative Agent has received notice from a Lender, Holdings or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default”. In
the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of 

  
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Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders); provided that unless and until the Administrative Agent shall have
received such directions, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the
Lenders. 
 9.6. Certain Representations and Agreements by Lenders. 

(a) Each Lender expressly acknowledges that neither the Agents nor any of their respective officers, directors, employees, agents, attorneys-in-fact or affiliates have made any representations or warranties to it and that no act by any Agent hereafter taken, including any review of the affairs of a Loan
Party or any affiliate of a Loan Party, shall be deemed to constitute any representation or warranty by any Agent to any Lender. Each Lender represents to the Agents that it has, independently and without reliance upon any Agent or any other Lender,
and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness of the Loan Parties and their
affiliates and made its own decision to make its Loans hereunder and enter into this Agreement. Each Lender also represents that it will, independently and without reliance upon any Agent or any other Lender, and based on such documents and
information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Loan Documents, and to make such investigation as it deems
necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness of the Loan Parties and their affiliates. Except for notices, reports and other documents expressly required to be furnished to
the Lenders by the Administrative Agent hereunder, the Administrative Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, operations, property, condition (financial or
otherwise), prospects or creditworthiness of any Loan Party or any affiliate of a Loan Party that may come into the possession of the Administrative Agent or any of its officers, directors, employees, agents, attorneys-in-fact or affiliates. 
 (b) Each Lender (x) represents and warrants, as of the date
such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, the Joint Lead
Arrangers and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that at least one of the following is and will be true: 

(i) such Lender is not using “plan assets” (within the meaning of 29 CFR § 2510.3-101, as modified by
Section 3(42) of ERISA) of one or more Benefit Plans in connection with the Loans, 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 Loans, the Letters of Credit, the Commitments and this Agreement, 

  
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 (iii) (A) such Lender is an investment fund managed by a “Qualified
Professional Asset Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and perform the Loans,
the Letters of Credit, the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement satisfies the requirements of
sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into,
participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement, or 

(iv) such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole
discretion, and such Lender is true. 
 (c) In addition, unless sub-clause (i) in the immediately preceding clause (b) 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 (b), such Lender further (x) represents and warrants, as of the date such
Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, the Joint Lead
Arrangers and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that: 

(i) none of the Administrative Agent, the Joint Lead Arrangers, or any other Lead Arranger or any of their respective
Affiliates is a fiduciary with respect to the assets of such Lender (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related hereto or
thereto), 
 (ii) the Person making the investment decision on behalf of such Lender with respect to the entrance into,
participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is independent (within the meaning of 29 CFR § 2510.3-21) and is a bank, an insurance carrier, an investment adviser, a
broker-dealer or other person that holds, or has under management or control, total assets of at least $50 million, in each case as described in 29 CFR § 2510.3-21(c)(1)(i)(A)-(E), 

(iii) the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in,
administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is capable of evaluating investment risks independently, both in general and with regard to particular transactions and investment strategies
(including in respect of the Obligations), 
 (iv) the Person making the investment decision on behalf of such Lender with
respect to the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is a fiduciary under ERISA or the Code, or both, with respect to the Loans, the Letters of
Credit, the Commitments and this Agreement and is responsible for exercising independent judgment in evaluating the transactions hereunder, and 

(v) no fee or other compensation is being paid directly to the Administrative Agent, the Joint Lead Arrangers or any other Lead
Arranger or any of their respective Affiliates for investment advice (as opposed to other services) in connection with the Loans, the Letters of Credit, the Commitments or this Agreement. 

  
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 (d) The Administrative Agent and the Joint Lead Arrangers hereby inform the Lenders that
each such Person is not undertaking to provide impartial investment advice, or to give advice in a fiduciary capacity, in connection with the transactions contemplated hereby, and that such Person has a financial interest in the transactions
contemplated hereby in that such Person or an Affiliate thereof (i) may receive interest or other payments with respect to the Loans, the Letters of Credit, the Commitments and this Agreement, (ii) may recognize a gain if it extended the
Loans, the Letters of Credit or the Commitments for an amount less than the amount being paid for an interest in the Loans, the Letters of Credit or the Commitments by such Lender or (iii) may receive fees or other payments in connection with
the transactions contemplated hereby, the Loan Documents or otherwise, including structuring fees, commitment fees, arrangement fees, facility fees, upfront fees, underwriting fees, ticking fees, agency fees, administrative agent or collateral agent
fees, utilization fees, minimum usage fees, letter of credit fees, fronting fees, deal-away or alternate transaction fees, amendment fees, processing fees, term out premiums, banker’s acceptance fees, breakage or other early termination fees or
fees similar to the foregoing. 
 9.7. Indemnification. The Lenders agree to indemnify the Administrative Agent, Issuing Lender and
Swingline Lender, each in its capacity as such (to the extent not reimbursed by Holdings or the Borrower and without limiting the obligation of Holdings or the Borrower to do so), ratably according to their respective Aggregate Exposure Percentages
in effect on the date on which indemnification is sought under this Section (or, if indemnification is sought after the date upon which the Commitments shall have terminated and the Loans shall have been paid in full, ratably in accordance with such
Aggregate Exposure Percentages immediately prior to such date), from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever that may at any
time (whether before or after the payment of the Loans) be imposed on, incurred by or asserted against the Administrative Agent, Issuing Lender or Swingline Lender in any way relating to or arising out of, the Commitments, this Agreement, any of the
other Loan Documents or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby or any action taken or omitted by such Administrative Agent, Issuing Lender or Swingline Lender under or in
connection with any of the foregoing; provided that no Lender shall be liable for the payment of any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements that are
found by a final and non-appealable decision of a court of competent jurisdiction to have resulted from such Person’s gross negligence or willful misconduct. The agreements in this Section shall survive the payment of the Loans and all other
amounts payable hereunder. 
 9.8. Agent in Its Individual Capacity. Each Agent and its affiliates may make loans to, accept deposits
from and generally engage in any kind of business with any Loan Party as though such Agent were not an Agent. With respect to its Loans made or renewed by it and with respect to any Letter of Credit issued or participated in by it, each Agent shall
have the same rights and powers under this Agreement and the other Loan Documents as any Lender and may exercise the same as though it were not an Agent, and the terms “Lender” and “Lenders” shall include each Agent in its
individual capacity. 
 9.9. Successor Administrative Agent. So long as no Event of Default has occurred and is continuing, the
Administrative Agent, the Borrower and a successor agent who is a Revolving Lender may, in their sole discretion at any time, agree that such successor agent shall replace the outgoing administrative Agent as Administrative Agent hereunder and under
the other Loan Documents. In addition, the Administrative Agent may in its sole discretion resign as Administrative Agent at any time 

  
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upon 30 days’ notice to the Lenders and the Borrower. If the Administrative Agent shall resign as Administrative Agent under this Agreement and the other Loan Documents, then the Required
Lenders shall appoint from among the Lenders a successor agent for the Lenders, which successor agent shall (unless an Event of Default under Section 8(a) or Section 8(g) with respect to the Borrower shall have occurred and be continuing)
be subject to approval by the Borrower (which approval shall not be unreasonably withheld or delayed). Any successor agent shall succeed to the rights, powers and duties of the Administrative Agent, and the term “Administrative Agent”
shall mean such successor agent effective upon such appointment and approval, and the former Administrative Agent’s rights, powers and duties as Administrative Agent shall be terminated, without any other or further act or deed on the part of
such former Administrative Agent or any of the parties to this Agreement or any holders of the Loans. If no successor agent has accepted appointment as Administrative Agent by the date that is 30 days following a retiring Administrative Agent’s
notice of resignation, the retiring Administrative Agent’s resignation shall nevertheless thereupon become effective, and the Lenders shall assume and perform all of the duties of the Administrative Agent hereunder until such time, if any, as
the Required Lenders appoint a successor agent as provided for above (except that in the case of any collateral security held by the Administrative Agent on behalf of the Lenders or the Issuing Lender under any of the Loan Documents, the retiring
Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed). After any retiring Administrative Agent’s resignation as Administrative Agent, the provisions of this
Section 9 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent under this Agreement and the other Loan Documents. 

Any resignation by the Administrative Agent pursuant to this Section shall also constitute its resignation as Issuing Lender and Swingline
Lender. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, (i) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Issuing Lender and
Swingline Lender, (ii) the retiring Issuing Lender and Swingline Lender shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and (iii) the successor Issuing Lender shall issue
new letters of credit either (x) in substitution for the Letters of Credit issued by the retiring Issuing Lender or (y) to backstop such Letters of Credit, in each case, if any, outstanding at the time of such succession or make other
arrangements satisfactory to the retiring Issuing Lender to effectively assume the obligations of the retiring Issuing Lender with respect to such Letters of Credit. Any Issuing Lender that is not the Administrative Agent may resign as an Issuing
Lender as separately agreed in writing between such Issuing Lender and the Borrower. 
 9.10. Agents. Each of the Agents (other than
the Administrative Agent) shall have no duties or responsibilities hereunder in their capacity as such. 
 9.11. Collateral and Guaranty
Matters. Each of the Lenders (including in its capacities as a party to a Specified Cash Management Agreement or a Specified Hedge Agreement) and the Issuing Lender irrevocably authorize the Administrative Agent to release Liens on the
Collateral and/or Guarantors from their obligations under the Guarantee and Collateral Agreement under the circumstances described in Section 9.15 of the Guarantee and Collateral Agreement. 

9.12. Specified Cash Management Agreements and Specified Hedge Agreements. Except as otherwise expressly set forth herein or in the
Guarantee and Collateral Agreement, no party to a Specified Cash Management Agreement or Specified Hedge Agreement shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan
Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral) other than in its capacity as a Lender and, in such case, only to the extent expressly provided in the Loan Documents. 

  
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Notwithstanding any other provision of this Section 9 to the contrary, the Administrative Agent shall not be required to verify the payment of, or that other satisfactory arrangements have
been made with respect to, obligations arising under Specified Cash Management Agreements and Specified Hedge Agreements unless the Administrative Agent has received written notice of such obligations, together with such supporting documentation as
the Administrative Agent may request, from the applicable party thereto. 
 SECTION 10 MISCELLANEOUS 

10.1. Amendments and Waivers. Neither this Agreement, any other Loan Document, nor any terms hereof or thereof may be amended,
supplemented or modified except in accordance with the provisions of this Section 10.1. The Required Lenders and each Loan Party party to the relevant Loan Document may, or, with the written consent of the Required Lenders, the Administrative
Agent and each Loan Party party to the relevant Loan Document may, from time to time, (a) enter into written amendments, supplements or modifications hereto and to the other Loan Documents for the purpose of adding any provisions to this
Agreement or the other Loan Documents or changing in any manner the rights of the Lenders or of the Loan Parties hereunder or thereunder or (b) waive, on such terms and conditions as the Required Lenders or the Administrative Agent, as the case
may be, may specify in such instrument, any of the requirements of this Agreement or the other Loan Documents or any Default or Event of Default and its consequences; provided, however, that no such waiver and no such amendment,
supplement or modification shall (i) forgive the principal amount or extend the final scheduled date of maturity of any Loan, extend the scheduled date of or reduce the amount of any amortization payment in respect of any Term Loan, reduce the
stated rate of any interest or fee payable hereunder or extend the scheduled date of any payment thereof, or increase the amount or extend the expiration date of any Lender’s Commitment, in each case without the consent of each Lender directly
affected thereby; provided, that (x) only the consent of the Borrower and the Administrative Agent shall be required to make any changes necessary to implement a LIBOR Successor Rate selected by the Borrower and the Administrative Agent
in accordance with Section 2.14 and (y) subject to the limitation contained in Section 2.14, only the consent of the Required Lenders shall be necessary to select a different LIBOR Successor Rate than the rate previously selected by
the Administrative Agent and the Borrower in accordance with Section 2.14; (ii) eliminate or reduce any voting rights under this Section 10.1 or reduce any percentage specified in the definition of Required Lenders, consent to the
assignment or transfer by the Borrower of any of its rights and obligations under this Agreement and the other Loan Documents, release all or substantially all of the Collateral or release all or substantially all of the Subsidiary Guarantors from
their obligations under the Guarantee and Collateral Agreement (in each case except in connection with Dispositions consummated or approved in accordance with the other terms of this Agreement), in each case without the written consent of all
Lenders; (iii) reduce the percentage specified in the definition of Majority Facility Lenders with respect to the Revolving Facility or any Class of Term Loans without the written consent of all Lenders under the Revolving Facility or such
Class of Term Loans, respectively; (iv) amend, modify or waive any provision of Section 9 without the written consent of the Administrative Agent; (v) amend, modify or waive any provision of Section 2.4 or 2.5 without the written
consent of the Swingline Lender; or (vi) amend, modify or waive any provision of Section 3 without the written consent of each affected Issuing Lender. Any such waiver and any such amendment, supplement or modification shall apply equally
to each of the Lenders and shall be binding upon the Loan Parties, the Lenders, the Agents and all future holders of the Loans. In the case of any waiver, the Loan Parties, the Lenders and the Agents shall be restored to their former position and
rights hereunder and under the other Loan Documents, and any Default or Event of Default waived shall be deemed to be cured and not continuing; but no such waiver shall extend to any subsequent or other Default or Event of Default, or impair any
right consequent thereon. 

  
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 Notwithstanding the foregoing, if the Administrative Agent and the Borrower acting together
identify any ambiguity, omission, mistake, typographical error or other defect in any provision of this Agreement or any other Loan Document, then the Administrative Agent and the Borrower shall be permitted to amend, modify or supplement such
provision to cure such ambiguity, omission, mistake, typographical error or other defect, and such amendment shall become effective without any further action or consent of any other party to this Agreement. 

10.2. Notices. 
 (a)
Notices Generally. Except in the case of notices and other communications expressly permitted to be given by telephone (and except as provided in subsection (b) below), all notices and other communications provided for herein shall be in
writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopier as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be
made to the applicable telephone number, as follows: 
 (i) if to the Borrower, the Administrative Agent, an Issuing Lender
or a Swingline Lender, to the address, telecopier number, electronic mail address or telephone number specified for such Person on Schedule 10.2; and 

(ii) if to any other Lender, to the address, telecopier number, electronic mail address or telephone number specified in its
Administrative Questionnaire (including, as appropriate, notices delivered solely to the Person designated by a Lender on its Administrative Questionnaire then in effect for the delivery of notices that may contain material non-public information
relating to the Borrower). 
 Notices and other communications sent by hand or overnight courier service, or mailed by certified or registered mail, shall
be deemed to have been given when received; notices and other communications sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, such notices and other
communications shall be deemed to have been given at the opening of business on the next Business Day for the recipient). Notices and other communications delivered through electronic communications to the extent provided in subsection
(b) below shall be effective as provided in such subsection (b). 
 (b) Electronic Communications. Notices and other
communications to the Lenders and the Issuing Lenders hereunder may be delivered or furnished by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent,
provided that the foregoing shall not apply to notices to any Lender or any Issuing Lender pursuant to Section 2 or Section 3 if such Lender or Issuing Lender, as applicable, has notified the Administrative Agent that it is
incapable of receiving notices under such Article by electronic communication. The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to
procedures approved by it, provided that approval of such procedures may be limited to particular notices or communications. 

Unless the Administrative 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 acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement), provided that if such
notice or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next Business Day for the recipient, 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. 

  
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 (c) The Platform. The Borrower hereby acknowledges that (a) the Administrative
Agent and/or the Joint Lead Arrangers will make available to the Lenders and each Issuing Lender Borrower Materials by posting the Borrower Materials on the Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT
PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY KIND,
EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE
BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to the Borrower, any Lender, any Issuing Lender or any other Person
for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of the Borrower’s or the Administrative Agent’s transmission of Borrower Materials through the Internet, except to the
extent that such losses, claims, damages, liabilities or expenses are determined by a court of competent jurisdiction by a final and non-appealable judgment to have resulted from the gross negligence or willful misconduct of such Agent Party;
provided, however, that in no event shall any Agent Party have any liability to the Borrower, any Lender, any Issuing Lender or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct
or actual damages). 
 (d) Change of Address, Etc. Each of the Borrower, the Administrative Agent, each Issuing Lender and the
Swingline Lender may change its address, telecopier or telephone number for notices and other communications hereunder by notice to the other parties hereto. Each other Lender may change its address, telecopier or telephone number for notices and
other communications hereunder by notice to the Borrower, the Administrative Agent, each Issuing Lender and the Swingline Lender. In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that the Administrative
Agent has on record (i) an effective address, contact name, telephone number, telecopier number and electronic mail address to which notices and other communications may be sent and (ii) accurate wire instructions for such Lender. 

(e) Reliance by Administrative Agent, Issuing Lenders and Lenders. The Administrative Agent, the Issuing Lenders and the Lenders shall
be entitled to rely and act upon any notices (including telephonic Notices of Borrowing and requests for Swingline Loans) purportedly given by or on behalf of the Borrower even if (i) such notices were not made in a manner specified herein,
were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. The Borrower shall indemnify the Administrative
Agent, each Issuing Lender, each Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of the Borrower. All
telephonic notices to and other telephonic communications with the Administrative Agent may be recorded by the Administrative Agent, and each of the parties hereto hereby consents to such recording. 

10.3. No Waiver; Cumulative Remedies. No failure to exercise and no delay in exercising, on the part of any Agent or any Lender, any
right, remedy, power or privilege hereunder or under the other Loan Documents shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise
thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law. 

  
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 10.4. Survival of Representations and Warranties. All representations and warranties
made hereunder, in the other Loan Documents and in any document, certificate or statement delivered pursuant hereto or in connection herewith shall survive the execution and delivery of this Agreement and the making of the Loans and other extensions
of credit hereunder. 
 10.5. Payment of Expenses and Taxes. The Borrower agrees (a) to pay or reimburse the Administrative Agent
for all its reasonable out-of-pocket costs and expenses incurred in connection with the development, preparation and execution of, and any amendment, supplement or modification to, or waiver or forbearance of, this Agreement and the other Loan
Documents and any other documents prepared in connection herewith or therewith, and the consummation and administration of the transactions contemplated hereby and thereby, including the reasonable fees and disbursements of one firm of counsel to
the Administrative Agent and filing and recording fees and expenses, (b) to pay or reimburse each Lender and each Agent for all its costs and expenses incurred in connection with the enforcement or preservation of any rights, privileges, powers
or remedies under this Agreement, the other Loan Documents and any such other documents, including the fees and disbursements of one firm of counsel selected by the Administrative Agent, together with any special or local counsel, to the
Administrative Agent and, following the occurrence and during the continuance of an Event of Default, not more than one other firm of counsel to the Lenders (it being understood that the Borrower shall not be obligated to reimburse any Lender (other
than the Administrative Agent as provided above) for its expenses pursuant to this clause (b) except to the extent that an Event of Default has occurred and is continuing at the time of any proposed amendment or waiver), (c) to pay,
indemnify, and hold each Lender and each Agent harmless from, any and all recording and filing fees and any and all liabilities with respect to, or resulting from any delay in paying, stamp, excise and other taxes, if any, that may be payable or
determined to be payable in connection with the execution and delivery of, or consummation or administration of any of the transactions contemplated by, or any amendment, supplement or modification of, or any waiver or consent under or in respect
of, this Agreement, the other Loan Documents and any such other documents, (d) if any Event of Default shall have occurred, to pay or reimburse all reasonable fees and expenses of a financial advisor engaged on behalf of, or for the benefit of,
the Agents and the Lenders accruing from and after the occurrence of such Event of Default, (e) to pay, indemnify, and hold each Lender, each Agent, their advisors and affiliates and their respective officers, directors, trustees, employees,
agents and controlling persons (each, an “Indemnitee”) harmless from and against any and all other liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or
nature whatsoever with respect to the execution, delivery, enforcement, performance and administration of this Agreement, the other Loan Documents and any such other documents, including any of the foregoing relating to the use of proceeds of the
Loans or the violation of, noncompliance with or liability under, any Environmental Law applicable to the operations of Holdings, the Borrower any of its Subsidiaries or any of the Properties the reasonable fees and expenses of legal counsel in
connection with claims, actions or proceedings by any Indemnitee against any Loan Party under any Loan Document, and (f) to pay, indemnify, and hold each Indemnitee harmless from and against any actual or prospective claim, litigation,
investigation or proceeding relating to any of the matters described in clauses (a) through (d) above, whether based on contract, tort or any other theory (including any investigation of, preparation for, or defense of any pending or
threatened claim, investigation, litigation or proceeding, and regardless of whether such claim, investigation, litigation or proceeding is brought by any Loan Party, its directors, shareholders or creditors or an Indemnitee, whether or not any
Indemnitee is a party thereto and whether or not the Restatement Effective Date has occurred) and the reasonable fees and expenses of legal counsel in connection with any 

  
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such claim, litigation, investigation or proceeding (all the foregoing in clauses (e) and (f), collectively, the “Indemnified Liabilities”), provided, that the
Borrower shall have no obligation hereunder to any Indemnitee with respect to Indemnified Liabilities to the extent such Indemnified Liabilities are found by a final non-appealable decision of a court of competent jurisdiction to have resulted from
the gross negligence or willful misconduct of such Indemnitee. Without limiting the foregoing, and to the extent permitted by applicable law, the Borrower agrees not to assert and to cause its Subsidiaries not to assert, and hereby waives and agrees
to cause its Subsidiaries to so waive, all rights for contribution or any other rights of recovery with respect to all claims, demands, penalties, fines, liabilities, settlements, damages, costs and expenses of whatever kind or nature, under or
related to Environmental Laws, that any of them might have by statute or otherwise against any Indemnitee. All amounts due under this Section 10.5 shall be payable not later than 15 days after written demand therefor. Statements payable by the
Borrower pursuant to this Section 10.5 shall be submitted to the address of the Borrower set forth in Section 10.2, or to such other Person or address as may be hereafter designated by the Borrower in a written notice to the Administrative
Agent. The agreements in this Section 10.5 shall survive the termination of the Loan Documents, repayment of the Loans and all other amounts payable hereunder. No indemnitee shall be liable for any damages arising from the use by any person of information or other materials obtained through electronic,
telecommunications or other information transmission systems, except to the extent arising from the gross negligence or willful misconduct of such indemnitee as determined by a final non-appealable judgment of a court of competent jurisdiction.

 10.6. Successors and Assigns; Participations and Assignments. 

(a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns permitted hereby (including any Affiliate of the Issuing Lender that issues any Letter of Credit), except that (i) the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written
consent of each Lender (and any attempted assignment or transfer by the Borrower without such consent shall be null and void), (ii) no Lender may assign or otherwise transfer its rights or obligations hereunder except in accordance with this
Section and (iii) no assignments may be made to natural persons. Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted
hereby, Participants to the extent provided in subsection (c) of this Section and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the Issuing Lender and the Lenders) any legal or equitable
right, remedy or claim under or by reason of this Agreement. 
 (b) (i) Subject to the conditions set forth in paragraph (b)(ii) below, any
Lender may assign to one or more assignees (each, an “Assignee”) all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitments and the Loans at the time owing to it) with the
prior written consent of: 
 (A) the Borrower (such consent not to be unreasonably withheld or delayed), provided that
no consent of the Borrower shall be required for an assignment to (I) a Lender, an affiliate of a Lender, an Approved Fund (as defined below), other than in the case of any assignment of a Revolving Commitment, or (II) if an Event of Default
under Section 8.1(a) or (g) has occurred and is continuing, any other Person; 
 (B) the Administrative Agent (such
consent not to be unreasonably withheld or delayed), provided that no consent of the Administrative Agent shall be required for an assignment of all or any portion of a Term Loan to a Lender, an Affiliate of a Lender or an Approved Fund or to
Holdings or any of its Subsidiaries; provided that any assignment to Holdings or any of its Subsidiaries shall be subject to the requirements of Section 10.6(g); and 

  
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 (C) in the case of an assignment of a Revolving Commitment to a Lender that
is not already a Revolving Lender, each Issuing Lender (such consent not to be unreasonably withheld or delayed). 
 (ii) Assignments shall
be subject to the following additional conditions: 
 (A) except in the case of an assignment of the entire remaining amount
of the assigning Lender’s Revolving Commitments or Loans of any Class, (x) the amount of the Commitments or Loans of the assigning Lender subject to each such assignment (as of the trade date specified in the Assignment and Assumption with
respect to such assignment or, if no trade date is so specified, as of the date such Assignment and Assumption is delivered to the Administrative Agent) shall not be less than $5,000,000, in the case of the Revolving Facility ($1,000,000 if the
Assignee is a Lender, an affiliate of a Lender or an Approved Fund) or, $1,000,000 in the case of Term Loans of any Class ($250,000 if the Assignee is a Lender, an affiliate of a Lender or an Approved Fund) and (y) the Aggregate Exposure of
such assigning Lender shall not fall below $3,000,000 in the case of the Revolving Facility ($1,000,000 if the Assignee is a Lender, an affiliate of a Lender or an Approved Fund) or $1,000,000 in the case of in the case of Term Loans of any Class
($250,000 if the Assignee is a Lender, an affiliate of a Lender or an Approved Fund), unless, in each case, each of the Borrower and the Administrative Agent otherwise consent provided that (1) no such consent of the Borrower shall be
required if an Event of Default under Section 8.1(a) or (g) has occurred and is continuing and (2) such amounts shall be aggregated in respect of each Lender and its affiliates or Approved Funds, if any; 

(B) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together
with a processing and recordation fee of $3,500 (unless otherwise agreed by the Administrative Agent in its sole discretion); 

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

(D) Each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights
and obligations under this Agreement with respect to the Loans or the Commitment assigned, except that this clause (D) shall not (x) apply to the Swingline Lender’s rights and obligations in respect of Swingline Loans,
(y) prohibit any Lender from assigning all or a portion of its rights and obligations among separate Classes on a non-pro rata basis or (C) prohibit any Revolving Lender from assigning all or portion of its Revolving Commitments with a
given Revolving Termination Date (and a proportionate amount of all Revolving Credit Extensions thereunder) separately from its Revolving Commitments with a different Revolving Termination Date; and 

  
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 (E) 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 Administrative Agent in an
aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the
Borrower and the Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and
satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent or any Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate) its full pro rata share of all Loans and
participations in Letters of Credit and Swingline Loans in accordance with its Revolving Percentage in each of the foregoing. 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. 
 For the purposes of this Section 10.6, “Approved Fund” means any Person (other than a natural person) that
is engaged in making, purchasing, holding or investing in bank loans and similar extensions of credit in the ordinary course and that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an
Affiliate of an entity that administers or manages a Lender. 
 (iii) Subject to acceptance and recording thereof pursuant to
paragraph (b)(v) below, from and after the effective date specified in each Assignment and Assumption the Assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights
and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an
Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 2.16, 2.17, 2.18 and
10.5). Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 10.6 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights
and obligations in accordance with paragraph (c) of this Section. 
 (iv) The Administrative Agent, acting for this purpose as an agent
of the Borrower, shall maintain at one of its offices a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amount of the Loans
and L/C Obligations owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent manifest error, and the Borrower, the Administrative Agent, the
Issuing Lender and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. 

(v) Upon its receipt of a duly completed Assignment and Assumption executed by an assigning Lender and an Assignee, the Assignee’s
completed administrative questionnaire (unless the Assignee shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b) of this Section and any written consent to such assignment required by paragraph
(b) of this Section, the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the Register. No assignment shall be effective for purposes of this Agreement unless it has been recorded
in the Register as provided in this paragraph. 

  
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 (c) (i) Any Lender may, without the consent of the Borrower or the Administrative Agent,
sell participations to one or more banks or other entities (other than a natural person) (a “Participant”) in all or a portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its
Commitments and the Loans owing to it); provided that (A) such Lender’s obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the performance of
such obligations and (C) the Borrower, the Administrative Agent, the Issuing Lender 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 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 may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver that (1) requires the consent of each Lender directly affected thereby
pursuant to the proviso to the second sentence of Section 10.1 and (2) directly affects such Participant. Subject to paragraph (c)(ii) of this Section, the Borrower agrees that each Participant shall be entitled to the benefits of Sections
2.16, 2.17, 2.18 and 10.5 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits
of Section 10.7(b) as though it were a Lender, provided such Participant shall be subject to Section 10.7(a) 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 Borrower, maintain
a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under 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 necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under
Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender 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 Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a
Participant Register. 
 (ii) A Participant shall not be entitled to receive any
greater payment under Section 2.16 or 2.17 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the
Borrower’s prior written consent. Any Participant that is a Non-U.S. Lender shall not be entitled to the benefits of Section 2.17 unless such Participant complies with Section 2.17(d). 

(d) Any Lender may, without the consent of the Borrower or the Administrative Agent, 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 or any central bank having jurisdiction over such Lender, and this Section shall
not apply to any such pledge or assignment of a security interest; provided that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or Assignee for
such Lender as a party hereto. 

  
 -115- 

 (e) The Borrower, at the Borrower’s sole expense, upon receipt of written notice from
the relevant Lender, agrees to issue Notes to any Lender requiring Notes to facilitate transactions of the type described in paragraph (d) above. 

(f) Notwithstanding the foregoing, any Conduit Lender may assign any or all of the Loans it may have funded hereunder to its designating Lender
without the consent of the Borrower or the Administrative Agent and without regard to the limitations set forth in Section 10.6(b). Each of Holdings, the Borrower, each Lender and the Administrative Agent hereby confirms that it will not
institute against a Conduit Lender or join any other Person in instituting against a Conduit Lender any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding under any state bankruptcy or similar law, for one year and one day
after the payment in full of the latest maturing commercial paper note issued by such Conduit Lender; provided, however, that each Lender designating any Conduit Lender hereby agrees to indemnify, save and hold harmless each other party
hereto for any loss, cost, damage or expense arising out of its inability to institute such a proceeding against such Conduit Lender during such period of forbearance. 

(g) Notwithstanding anything to the contrary herein, any Lender may assign all or any portion of its Term Loans (but not Commitments) to
Holdings or any of its Subsidiaries, but only if: 
 (i) no Default has occurred and is continuing or would result therefrom
and, immediately after giving effect to such Offered Voluntary Prepayment, Available Liquidity would not be less than $250,000,000; 

(ii) the assignment agreement relating to such Term Loans shall (i) identify Holdings or the applicable Subsidiary as an
Affiliate of the Borrower and (ii) contain a customary “big boy” representation by the assignee and waiver by the assignee of any right to make any claim against the Administrative Agent in connection with such assignment; and 

(iii) any such Term Loans shall be automatically and permanently cancelled immediately upon acquisition thereof by Holdings or
any of its Subsidiaries. 
 10.7. Adjustments; Setoff. 

(a) Except to the extent that this Agreement expressly provides for payments to be allocated to a particular Lender or to the Lenders of a
particular Class, if any Lender (a “Benefited Lender”) shall receive any payment of all or part of the amounts owing to it hereunder, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off,
pursuant to events or proceedings of the nature referred to in Section 8(e), or otherwise), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of the amounts owing to such other
Lender hereunder, such Benefited Lender shall purchase for cash from the other Lenders a participating interest in such portion of the amounts owing to each such other Lender hereunder, or shall provide such other Lenders with the benefits of any
such collateral, as shall be necessary to cause such Benefited Lender to share the excess payment or benefits of such collateral ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is
thereafter recovered from such Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. 

(b) In addition to any rights and remedies of the Lenders provided by law, each Lender shall have the right, without prior notice to Holdings
or the Borrower, any such notice being expressly waived by Holdings and the Borrower to the extent permitted by applicable law, upon any amount becoming due and payable by Holdings or the Borrower hereunder (whether at the stated

  
 -116- 

 
maturity, by acceleration or otherwise), to set off and appropriate and apply against such amount any and all deposits (general or special, time or demand, provisional or final), in any currency,
and any other credits, indebtedness or claims, in any currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by such Lender or any branch or agency thereof to or for the credit or
the account of Holdings or the Borrower, as the case may be. Each Lender agrees promptly to notify the Borrower and the Administrative Agent after any such setoff and application made by such Lender, provided that the failure to give such
notice shall not affect the validity of such setoff and application. 
 10.8. Counterparts. This Agreement may be executed by one or
more of the parties to this Agreement on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed signature page of this Agreement or any
other document executed in connection herewith by facsimile or electronic transmission shall be effective as physical delivery of an original executed counterpart hereof, including the electronic matching of assignment terms and contract formations
on electronic platforms approved by the Administrative Agent. A set of the copies of this Agreement signed by all the parties shall be lodged with the Borrower and the Administrative Agent. 

10.9. Severability. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction. 
 10.10. Integration. This Agreement and the other Loan Documents represent the agreement
of Holdings, the Borrower, the Agents and the Lenders with respect to the subject matter hereof, and there are no promises, undertakings, representations or warranties by any Agent or any Lender relative to the subject matter hereof not expressly
set forth or referred to herein or in the other Loan Documents. 
 10.11. GOVERNING LAW. This Agreement and the rights and obligations
of the parties under this Agreement shall be governed by, and construed and interpreted in accordance with, the law of the State of New York. 

10.12. Submission to Jurisdiction; Waivers. Each of Holdings and the Borrower hereby irrevocably and unconditionally: 

(a) submits for itself and its property in any legal action or proceeding relating to this Agreement and the other Loan
Documents to which it is a party, or for recognition and enforcement of any judgment in respect thereof, to the exclusive general jurisdiction of the courts of the State of New York located in the County of New York, the courts of the United States
for the Southern District of New York, and appellate courts from any thereof; 
 (b) consents that any such action or
proceeding may be brought in such courts and waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not
to plead or claim the same; 
 (c) agrees that service of process in any such action or proceeding may be effected by mailing
a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to Holdings or the Borrower, as the case may be at its address set forth in Section 10.2 or at such other address of which the
Administrative Agent shall have been notified pursuant thereto; 

  
 -117- 

 (d) agrees that nothing herein shall affect the right to effect service of
process in any other manner permitted by law or shall limit the right to sue in any other jurisdiction; and 
 (e) waives, to
the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or proceeding referred to in this Section any special, exemplary, punitive or consequential damages. 

10.13. Acknowledgments. 
 Each of Holdings
and the Borrower hereby acknowledges that: 
 (a) it has been advised by counsel in the negotiation, execution and delivery
of this Agreement and the other Loan Documents; 
 (b) neither any Agent nor any Lender has any fiduciary relationship with
or duty to Holdings or the Borrower arising out of or in connection with this Agreement or any of the other Loan Documents, and the relationship between the Agents and Lenders, on one hand, and Holdings and the Borrower, on the other hand, in
connection herewith or therewith is solely that of debtor and creditor; 
 (c) no joint venture is created hereby or by the
other Loan Documents or otherwise exists by virtue of the transactions contemplated hereby among the Agents and the Lenders or among Holdings the Borrower and the Agents and the Lenders; and 

(d) the Lenders and their affiliates may have economic interests that conflict with those of the Borrower. 

10.14. Release of Guarantees and Liens. 

(a) Notwithstanding anything to the contrary contained herein or in any other Loan Document, the Administrative Agent is hereby irrevocably
authorized by each Lender (without requirement of notice to or consent of any Lender except as expressly required by Section 10.1) and is hereby required to promptly take any action requested by the Borrower having the effect of releasing any
Collateral (i) to the extent necessary to permit consummation of any disposition of such Collateral (other than a disposition to the Borrower or any Guarantor) not prohibited by any Loan Document, (ii) that has been consented to in
accordance with Section 10.1, (iii) consisting of assets of any Subsidiary Guarantor that is to be released from its obligations under the Guarantee and Collateral Agreement as provided below or (iv) under the circumstances described
in paragraph (b) below. Additionally, any Subsidiary Guarantor shall automatically be released from its obligations under the Guarantee and Collateral Agreement
(x) upon the consummation of any transaction not prohibitted by this Agreement that results in such Subsidiary Guarantor ceasing to be a Subsidiary of the Borrower. (including, for the avoidance of doubt, any designation
of a Subsidiary as a Non-Recourse Subsidiary hereunder), (y) so long as no Event of Default has occurred and is continuing or would result therefrom, at the Borrower’s option by written notice to the Administrative Agent, so long as such
Subsidiary is a De Minimis Subsidiary and, after giving effect to such release, the threshold set forth in the proviso to the definition of “De Minimis Subsidiary” would not be exceeded and, (z) at the Borrower’s option by
written notice to the Administrative Agent, if such Subsidiary becomes a Specified Excluded Subsidiary. Any such release of Collateral may be effected pursuant to a Release or such other
documentation as shall be reasonably acceptable to the Administrative Agent. 

  
 -118- 

 (b) At the Discharge Date, the Collateral shall be released from the Liens created by the
Guarantee and Collateral Agreement, and the Guarantee and Collateral Agreement and all obligations (other than those expressly stated to survive such termination) of the Administrative Agent and each Loan Party under the Guarantee and Collateral
Agreement shall terminate, all without delivery of any instrument or performance of any act by any Person. 
 10.15. Confidentiality.
Each Agent and each Lender agrees to keep confidential all non-public information provided to it by any Loan Party pursuant to this Agreement that is designated by such Loan Party as confidential; provided that nothing herein shall prevent
any Agent or any Lender from disclosing any such information (a) to any Agent, any Lender or any affiliate of any Lender or any Approved Fund, (b) to any Transferee or prospective Transferee that agrees to comply with the provisions of
this Section, (c) to its employees, directors, agents, attorneys, accountants and other professional advisors or those of any of its affiliates who have a need to know, (d) upon the request or demand of any Governmental Authority or at the
request of any self-regulatory body, (e) in response to any order of any court or other Governmental Authority or as may otherwise be required pursuant to any Requirement of Law, (f) if requested or required to do so in connection with any
litigation or similar proceeding, (g) that has been publicly disclosed, (h) to any nationally recognized rating agency that requires access to information about a Lender’s investment portfolio in connection with ratings issued with
respect to such Lender, (i) in connection with the exercise of any remedy hereunder or under any other Loan Document, (j) to any creditor or direct or indirect contractual counterparty in swap agreements or such creditor or contractual
counterparty’s professional advisor (so long as such contractual counterparty or professional advisor to such contractual counterparty agrees to be bound by the provisions of this Section 10.15), (k) to a Person that is an investor or
prospective investor in a Securitization that agrees that its access to information regarding the Borrower and the Loans is solely for purposes of evaluating an investment in such Securitization (so long as such Person agrees to be bound by the
provisions of this Section 10.15), (l) to a Person that is a trustee, collateral manager, servicer, noteholder or secured party in a Securitization in connection with the administration, servicing and reporting on the assets serving as
collateral for such Securitization (so long as such Person agrees to be bound by the provisions of this Section 10.15) or (m) with such Loan Party’s prior written consent. 

Each Lender acknowledges that information furnished to it pursuant to this Agreement or the other Loan Documents may include material
non-public information concerning the Borrower and its Affiliates and their related parties or their respective securities, and confirms that it has developed compliance procedures regarding the use of material non-public information and that it
will handle such material non-public information in accordance with those procedures and applicable law, including Federal and state securities laws. 

All information, including requests for waivers and amendments, furnished by the Borrower or the Administrative Agent pursuant to, or in the
course of administering, this Agreement or the other Loan Documents will be syndicate-level information, which may contain material non-public information about the Borrower and its Affiliates and their related parties or their respective
securities. Accordingly, each Lender represents to the Borrower and the Administrative Agent that it has identified in its administrative questionnaire a credit contact who may receive information that may contain material non-public information in
accordance with its compliance procedures and applicable law, including Federal and state securities laws. 

  
 -119- 

 10.16. WAIVERS OF JURY TRIAL. Holdings, the Borrower, the Agents and the Lenders
hereby irrevocably and unconditionally waive trial by jury in any legal action or proceeding relating to this Agreement or any other Loan Document and for any counterclaim therein. 

10.17. Electronic Execution of Assignments and Certain Other Documents. The words “execution,” “execute,”
“signed,” “signature,” and words of like import in or related to any document to be signed in connection with this Agreement and the transactions contemplated hereby shall be deemed to include electronic signatures, the
electronic matching of assignment terms and contract formations on electronic platforms approved by the Administrative Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability
as a manually executed signature or the use of a paper-based record keeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New
York State, Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act; provided that notwithstanding anything contained herein to the contrary the Administrative Agent is under no
obligation to agree to accept electronic signatures in any form or in any format unless expressly agreed to by the Administrative Agent pursuant to procedures approved by it. 

10.18. USA Patriot Act. Each Lender hereby notifies the Borrower that pursuant to the requirements of the USA Patriot Act (Title III of
Pub. L. 107-56 (signed into law October 26, 2001)) (the “Patriot Act”), it is required to obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower and other
information that will allow such Lender to identify the Borrower in accordance with the Patriot Act. 
 10.19. EU Bail-In Provisions.
Notwithstanding anything to the contrary in this Agreement or any other Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Lender that is an EEA
Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEA 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 Lender 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 Loan Document; or 
 (iii) the variation
of the terms of such liability in connection with the exercise of the write-down and conversion powers of any EEA Resolution Authority. 

  
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 10.20. Intercreditor Agreements. 

(a) Each Lender (and, by its acceptance of the benefits of the Guarantee and Collateral Agreement, each other Secured Party) hereunder agrees
that it will be bound by and will take no actions contrary to the provisions of a First Lien Intercreditor Agreement and any other intercreditor agreement specifically contemplated by this Agreement and (iii) authorizes and instructs the
Administrative Agent to enter into a First Lien Intercreditor Agreement, in each case as Administrative Agent and on behalf of such Lender or other Secured Party. 

(b) Each Lender authorizes the Administrative Agent to enter into any amendment or supplement to a First Lien Intercreditor Agreement and any
other intercreditor agreement specifically contemplated by this Agreement (i) in order to include appropriately the holders of the secured Indebtedness secured by a Lien permitted by this Agreement on the basis described herein or
(ii) that is otherwise consented to by the Required Lenders. 

  
 -121-EX-10.1

 Exhibit 10.1 
  

 
  

LOAN AGREEMENT 
 THE
ENTITIES LISTED ON SCHEDULE 1, 
 collectively, as Borrower 

and 
 KEYBANK NATIONAL
ASSOCIATION, 
 a national banking association, 

and 
 CITI REAL ESTATE FUNDING
INC., 
 a New York corporation 

collectively, as Lender 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I DEFINITIONS
	  	 	1	 
	 Section 1.1.
	 	Certain Defined Terms	  	 	1	 
	 Section 1.2.
	 	Accounting Terms	  	 	33	 
	 Section 1.3.
	 	Other Definitional Provisions for Loan Documents	  	 	33	 
		
	 ARTICLE II AMOUNTS AND TERMS OF THE LOAN
	  	 	33	 
	 Section 2.1.
	 	The Loan	  	 	33	 
	 Section 2.2.
	 	Interest	  	 	34	 
	 Section 2.3.
	 	Payments	  	 	37	 
	 Section 2.4.
	 	Maturity Date; Extensions	  	 	38	 
	 Section 2.5.
	 	Default Rate	  	 	39	 
	 Section 2.6.
	 	Late Charges	  	 	40	 
	 Section 2.7.
	 	Interest Rate Cap Agreement	  	 	40	 
	 Section 2.8.
	 	Prepayment	  	 	42	 
	 Section 2.9.
	 	Outstanding Balance	  	 	44	 
	 Section 2.10.
	 	Taxes	  	 	44	 
	 Section 2.11.
	 	Funding of the Loan on the Closing Date; Effectiveness of Agreement	  	 	48	 
	 Section 2.12.
	 	Reasonableness of Charges	  	 	48	 
	 Section 2.13.
	 	Release of Individual Properties	  	 	49	 
		
	 ARTICLE III CASH MANAGEMENT
	  	 	51	 
	 Section 3.1.
	 	Clearing Account	  	 	51	 
	 Section 3.2.
	 	Cash Management Accounts	  	 	52	 
	 Section 3.3.
	 	Payments Received Under the Cash Management Agreement	  	 	54	 
	 Section 3.4.
	 	Payments on Behalf of Borrower	  	 	54	 
		
	 ARTICLE IV REPRESENTATIONS AND WARRANTIES
	  	 	54	 
	 Section 4.1.
	 	Organization, Powers, Capitalization, Good Standing, Business	  	 	55	 
	 Section 4.2.
	 	Authorization of Borrowing, etc.	  	 	55	 
	 Section 4.3.
	 	Financial Information	  	 	56	 
	 Section 4.4.
	 	Indebtedness	  	 	57	 
	 Section 4.5.
	 	Title to Property	  	 	57	 
	 Section 4.6.
	 	Zoning; Compliance with Laws	  	 	57	 
	 Section 4.7.
	 	Leases; Agreements	  	 	58	 
	 Section 4.8.
	 	Condition of Property	  	 	58	 
	 Section 4.9.
	 	Litigation; Adverse Proceedings	  	 	59	 
	 Section 4.10.
	 	No Bankruptcy or Criminal Proceedings	  	 	59	 
	 Section 4.11.
	 	Payment of Taxes	  	 	59	 
	 Section 4.12.
	 	Employees	  	 	60	 
	 Section 4.13.
	 	Compliance with Other Laws	  	 	60	 
	 Section 4.14.
	 	No Plan Assets	  	 	60	 
	 Section 4.15.
	 	Governmental Regulation	  	 	60	 
	 Section 4.16.
	 	Bank Holding Company	  	 	60	 
	 Section 4.17.
	 	Broker and Financial Advisors	  	 	60	 
	 Section 4.18.
	 	Investments	  	 	60	 
	 Section 4.19.
	 	No Foreign Person	  	 	61	 

  

							
	 Section 4.20.
	 	No Collective Bargaining Agreements	  	 	61	 
	 Section 4.21.
	 	Brand	  	 	61	 
	 Section 4.22.
	 	Insurance	  	 	61	 
	 Section 4.23.
	 	Anti-Money Laundering and Economic Sanctions	  	 	61	 
	 Section 4.24.
	 	Property Document Representations	  	 	62	 
		
	 ARTICLE V FINANCIAL REPORTING AND BUDGETS
	  	 	62	 
	 Section 5.1.
	 	Financial Statements; Budgets, Notices to Lender; Audit Rights	  	 	62	 
	 Section 5.2.
	 	Breach	  	 	66	 
	 Section 5.3.
	 	Other Reporting Related Matters	  	 	66	 
	 Section 5.4.
	 	Events of Default, etc.	  	 	67	 
	 Section 5.5.
	 	Litigation	  	 	67	 
	 Section 5.6.
	 	Other Information	  	 	67	 
		
	 ARTICLE VI INSURANCE, CASUALTY, CONDEMNATION
	  	 	67	 
	 Section 6.1.
	 	Maintenance of Insurance	  	 	67	 
	 Section 6.2.
	 	Casualty and Condemnation	  	 	70	 
	 Section 6.3.
	 	Costs and Expenses	  	 	75	 
		
	 ARTICLE VII GENERAL COVENANTS
	  	 	75	 
	 Section 7.1.
	 	Existence; Qualification; SPE Bankruptcy Remote Entity	  	 	75	 
	 Section 7.2.
	 	Payment of Taxes, Lien Claims and Utility Charges	  	 	76	 
	 Section 7.3.
	 	Right to Contest Taxes and Lien Claims	  	 	76	 
	 Section 7.4.
	 	Maintenance of the Property	  	 	77	 
	 Section 7.5.
	 	Inspection	  	 	78	 
	 Section 7.6.
	 	Waste	  	 	78	 
	 Section 7.7.
	 	Brand Covenants	  	 	79	 
	 Section 7.8.
	 	Maintenance of Franchises and Licenses; Compliance with Laws and Contractual Obligations	  	 	79	 
	 Section 7.9.
	 	Leases	  	 	80	 
	 Section 7.10.
	 	Management	  	 	81	 
	 Section 7.11.
	 	Performance of Agreements; Material Contracts	  	 	83	 
	 Section 7.12.
	 	Estoppels	  	 	83	 
	 Section 7.13.
	 	Indebtedness	  	 	84	 
	 Section 7.14.
	 	Debt Cancellation	  	 	84	 
	 Section 7.15.
	 	Liens, Negative Pledges	  	 	84	 
	 Section 7.16.
	 	Grants of Rights, Easements; Recorded Documents	  	 	84	 
	 Section 7.17.
	 	Restriction on Fundamental Changes	  	 	85	 
	 Section 7.18.
	 	Restrictions on Changes of Use	  	 	85	 
	 Section 7.19.
	 	Transactions with Related Persons	  	 	85	 
	 Section 7.20.
	 	ERISA	  	 	86	 
	 Section 7.21.
	 	Further Assurances	  	 	86	 
	 Section 7.22.
	 	Use of Proceeds and Margin Security	  	 	87	 
	 Section 7.23.
	 	Anti-Money Laundering and Economic Sanctions	  	 	87	 
	 Section 7.24.
	 	Adverse Proceedings	  	 	87	 
	 Section 7.25.
	 	Lender’s Expenses	  	 	87	 
	 Section 7.26.
	 	Property Document Covenants	  	 	87	 
		
	 ARTICLE VIII RESERVES
	  	 	89	 
	 Section 8.1.
	 	Taxes and Insurance Reserve	  	 	89	 
	 Section 8.2.
	 	Replacement Reserve	  	 	89	 

  

							
	 Section 8.3.
	 	Intentionally Omitted	  	 	90	 
	 Section 8.4.
	 	Deferred Maintenance Reserve	  	 	90	 
	 Section 8.5.
	 	Environmental Remediation Reserve	  	 	90	 
	 Section 8.6.
	 	Excess Cash Reserve Funds	  	 	91	 
	 Section 8.7.
	 	Intentionally Omitted	  	 	91	 
	 Section 8.8.
	 	General Matters Pertaining to Reserves	  	 	91	 
	 Section 8.9.
	 	Letters of Credit	  	 	93	 
		
	 ARTICLE IX DEFAULT, RIGHTS AND REMEDIES
	  	 	94	 
	 Section 9.1.
	 	Events of Default	  	 	94	 
	 Section 9.2.
	 	Acceleration and Remedies	  	 	97	 
	 Section 9.3.
	 	Duration of Events of Default	  	 	99	 
	 Section 9.4.
	 	Performance by Lender	  	 	99	 
	 Section 9.5.
	 	Right of Entry	  	 	99	 
	 Section 9.6.
	 	Evidence of Compliance	  	 	100	 
		
	 ARTICLE X SINGLE-PURPOSE, BANKRUPTCY-REMOTE REPRESENTATIONS, WARRANTIES AND
COVENANTS
	  	 	100	 
	 Section 10.1.
	 	SPE Bankruptcy Remote Entity	  	 	100	 
	 Section 10.2.
	 	Independent Director	  	 	103	 
	 Section 10.3.
	 	Recycled Entity	  	 	104	 
		
	 ARTICLE XI RESTRICTIONS ON LIENS AND TRANSFERS
	  	 	105	 
	 Section 11.1.
	 	Restrictions on Transfer and Encumbrance	  	 	105	 
	 Section 11.2.
	 	Permitted Transfers	  	 	106	 
	 Section 11.3.
	 	Permitted Property Transfer (Assumption)	  	 	106	 
	 Section 11.4.
	 	Costs and Expenses	  	 	108	 
	 Section 11.5.
	 	Due on Sale	  	 	108	 
		
	 ARTICLE XII RECOURSE; LIMITATIONS ON RECOURSE
	  	 	109	 
	 Section 12.1.
	 	Limitations on Recourse	  	 	109	 
	 Section 12.2.
	 	Full Springing Recourse	  	 	109	 
	 Section 12.3.
	 	Recourse for Damages	  	 	110	 
	 Section 12.4.
	 	Miscellaneous	  	 	112	 
	 Section 12.5.
	 	Event of Default not Affected by Automatic Stay	  	 	112	 
	 Section 12.6.
	 	Recourse Obligations of Borrower	  	 	112	 
		
	 ARTICLE XIII ASSIGNMENT BY LENDER; PARTICIPATIONS; SECURITIZATION; SEVERED LOAN
DOCUMENTS; ADMINISTRATION
	  	 	112	 
	 Section 13.1.
	 	Assignments and Participations	  	 	112	 
	 Section 13.2.
	 	Effect of Assignment	  	 	113	 
	 Section 13.3.
	 	Securitization	  	 	113	 
	 Section 13.4.
	 	Other Business	  	 	115	 
	 Section 13.5.
	 	Privity of Contract	  	 	115	 
	 Section 13.6.
	 	Severed Loan Documents; Componentization	  	 	115	 
	 Section 13.7.
	 	Cooperation; Securitization Indemnity	  	 	116	 
	 Section 13.8.
	 	Resizing; New Mezzanine Option	  	 	120	 
	 Section 13.9.
	 	REMIC Savings Clause	  	 	121	 
	 Section 13.10.
	 	Reliance on Notice of Mezzanine Loan Default; Mezzanine Monthly Debt Service Payment Amount	  	 	121	 
	 Section 13.11.
	 	Co-Lenders	  	 	122	 

  

							
		
	 ARTICLE XIV MISCELLANEOUS
	  	 	122	 
	 Section 14.1.
	 	Expenses and Attorneys’ Fees	  	 	122	 
	 Section 14.2.
	 	Indemnity	  	 	123	 
	 Section 14.3.
	 	Actions Affecting Lender’s Interests	  	 	124	 
	 Section 14.4.
	 	Amendments and Waivers	  	 	124	 
	 Section 14.5.
	 	Retention of Borrower’s Documents	  	 	125	 
	 Section 14.6.
	 	Notices	  	 	125	 
	 Section 14.7.
	 	Survival of Warranties and Certain Agreements	  	 	126	 
	 Section 14.8.
	 	Failure or Indulgence Not Waiver	  	 	126	 
	 Section 14.9.
	 	Marshaling; Payments Set Aside	  	 	126	 
	 Section 14.10.
	 	Severability	  	 	126	 
	 Section 14.11.
	 	Contact with Tenants	  	 	126	 
	 Section 14.12.
	 	Headings	  	 	126	 
	 Section 14.13.
	 	Governing Law	  	 	126	 
	 Section 14.14.
	 	Successors and Assigns	  	 	127	 
	 Section 14.15.
	 	Sophisticated Parties, Reasonable Terms, No Fiduciary Relationship	  	 	127	 
	 Section 14.16.
	 	Reasonableness of Determinations	  	 	128	 
	 Section 14.17.
	 	Limitation of Liability	  	 	128	 
	 Section 14.18.
	 	No Liability for Consents and Approvals	  	 	128	 
	 Section 14.19.
	 	No Duty	  	 	128	 
	 Section 14.20.
	 	Entire Agreement	  	 	128	 
	 Section 14.21.
	 	Construction as Mutually Drafted	  	 	128	 
	 Section 14.22.
	 	Supremacy of Loan Agreement	  	 	129	 
	 Section 14.23.
	 	Consent to Jurisdiction and Service of Process	  	 	129	 
	 Section 14.24.
	 	Waiver of Jury Trial	  	 	129	 
	 Section 14.25.
	 	Contractual Statute of Limitations	  	 	130	 
	 Section 14.26.
	 	Counterparts; Effectiveness	  	 	130	 
	 Section 14.27.
	 	Servicer; Trust Fund Expenses; Rating Agency Costs	  	 	130	 
	 Section 14.28.
	 	Attorney-In-Fact	  	 	130	 
	 Section 14.29.
	 	Time of the Essence	  	 	131	 
	 Section 14.30.
	 	No Third-Party Beneficiaries	  	 	131	 
	 Section 14.31.
	 	Borrower Responsible for Obligations of Borrower Parties	  	 	131	 
	 Section 14.32.
	 	Guaranty and Environmental indemnity Unsecured	  	 	131	 
	 Section 14.33.
	 	Multiple Parties Provisions; Joint and Several Liability	  	 	131	 
	 Section 14.34.
	 	Registration	  	 	132	 
	 Section 14.35.
	 	Contributions and Waivers	  	 	133	 
	 Section 14.36.
	 	Cross-Default; Cross-Collateralization	  	 	135	 
	 Section 14.37.
	 	EU Bail-In Rule	  	 	136	 
	 Section 14.38.
	 	Certain Additional Rights of Lender (VCOC)	  	 	136	 

  

  

 LOAN AGREEMENT 

THIS LOAN AGREEMENT (this “Agreement”) is dated as of January 24, 2019 (the “Effective
Date”), and entered into by and among THE ENTITIES LISTED ON SCHEDULE 1, each a Delaware limited liability company (together with each of their successors and assigns as permitted herein, jointly, severally and
collectively, “Borrower” and each sometimes referred to herein individually as an “Individual Borrower”), KEYBANK NATIONAL ASSOCIATION, a national banking association (together with its
successors and assigns, “KeyBank”), and CITI REAL ESTATE FUNDING INC., a New York corporation (together with its successors and assigns, “Citi”, together with KeyBank, collectively, together
with their respective successors and assigns, “Lender” and each a “Co-Lender). 

RECITALS 
 A.
Borrower is the owner of certain real property located in the counties and states listed on Schedule 1, as more particularly described in the Security Instruments (as defined in Section 1.1). 

B. Borrower desires to obtain a loan from Lender in the principal amount of up to One Hundred Eighty Million and No/100 Dollars
($180,000,000.00) (the “Loan Amount”) to refinance the Property (as defined in Section 1.1). 

C. Lender is willing to lend to Borrower the Loan Amount on the terms set forth in this Agreement. 

NOW, THEREFORE, in consideration of the making of the Loan by Lender, and the covenants, agreements, representations and warranties set forth
in this Agreement, the parties hereby covenant, agree, represent and warrant as follows: 
 ARTICLE I 

DEFINITIONS 

Section 1.1. Certain Defined Terms. The terms defined below are used in this Agreement as so
defined. Terms defined in the preamble and recitals to this Agreement are used in this Agreement as so defined. 
 “AC
Laws” is defined in Section 4.23. 
 “Accounts” means, collectively, the
Clearing Accounts, the Cash Management Account and any other accounts pledged to Lender pursuant to this Agreement or any other Loan Document. 

“Acceptable Counterparty” shall mean a bank or other financial institution which has a counterparty risk assessment or
long-term unsecured debt rating of not less than (i) “A2” by Moody’s at the time it enters into the applicable Interest Rate Cap Agreement and (ii) “A3” by Moody’s at all times thereafter; provided
however, that SMBC Capital Markets, Inc. (with an Acceptable SMBC Credit Support Party as its credit support party) will be an Acceptable Counterparty so long as the rating of its credit support party (provided such credit support
party shall be an Acceptable SMBC Credit Support Party) is not downgraded, withdrawn or qualified by Moody’s from the long and short term ratings issued by such rating agencies below the above rating. As used herein, an “Acceptable
SMBC Credit Support Party” shall mean Sumitomo Mitsui Banking Corporation or a replacement guarantor that meets the foregoing rating requirements and provides a guaranty in form and substance reasonably acceptable to
Lender and the Rating Agencies that guaranties all current and future obligations under the Interest Rate Cap Agreement, Replacement Interest Rate Cap Agreement or Substitute Interest Rate Cap Agreement, as applicable. 

  
 Page 1 

 “Additional Insolvency Opinion” shall mean a
non-consolidation opinion letter delivered in connection with the Loan subsequent to the Closing Date reasonably satisfactory in form and substance to Lender and, following a rated Securitization, satisfactory
in form and substance to the Rating Agencies, and from counsel reasonably acceptable to Lender and, following a rated Securitization, the Rating Agencies. 

“Additional Interest” is defined in Section 2.8(A). 

“Affiliate” shall mean, as to any Person, any other Person that, directly or indirectly, is in Control of, is
Controlled by or is under common Control with such Person. Where expressions such as “[name of party] or any Affiliate” are used, the same shall refer to the named party and any Affiliate of the named party. 

“Affiliated Manager” means (i) Sponsor Affiliated Manager, and (ii) any Property Manager that is an
Affiliate of any Borrower Party. 
 “Aggregate DSCR” means, as of any date of determination, the ratio, as
determined by Lender, of (i) Underwritten Net Cash Flow to (ii) Aggregate Underwritten Debt Service. 
 “Aggregate
Underwritten Debt Service” means as of any date of determination thereof, the sum of (i) Underwritten Debt Service plus (ii) the product of (a) an interest rate for the Mezzanine Loan equal to the sum of (i) the
Mezzanine Strike Price plus (ii) the “Applicable Spread” (as defined in the Mezzanine Loan Agreement), multiplied by (b) the outstanding principal balance of the Mezzanine Loan. 

“Agreement” means this Loan Agreement (including all schedules, exhibits, annexes and appendices hereto), as same may
be amended or modified from time to time. 
 “Allocated Excess Proceeds” shall mean the product of (i) the
Excess Proceeds multiplied by (ii) a fraction, having a numerator equal to the outstanding principal balance of the Loan on the date of the applicable Property Release and a denominator equal to the sum of the outstanding principal balance of
the Loan and the outstanding principal balance of the Mezzanine Loan, in each case, on the date of the applicable Property Release. 

“Allocated Loan Amount” shall mean, with respect to each Individual Property, the designated “Allocated Loan
Amount” applicable to such Individual Property, as set forth on Exhibit C attached hereto. 
 “Alteration
Threshold” shall mean (i) with respect to each Individual Property, an amount equal to the lesser of $2,500,000 and thirty percent (30%) of the Allocated Loan Amount for such Individual Property, and (ii) with respect to all
Individual Properties undergoing Alterations, an aggregate amount equal to four percent (4%) of the outstanding principal balance of the Loan. 

“Alternate Index” shall mean a floating rate index (a) that in Lender’s good faith determination, is
commonly accepted by market participants in CMBS loans as an alternative to LIBOR and (b) that is publicly recognized by the International Swaps and Derivatives Association, or any successor organization, as an alternative to LIBOR. 

“Alternate Index Determination” is defined in Section 2.2(D)(v). 

“Alternate Index Rate” shall mean, with respect to each Interest Period, the per annum rate of interest of the
Alternate Index, determined as of the Determination Date immediately preceding the commencement of such Interest Period. Notwithstanding the foregoing, in no event shall the Alternate Index Rate be less than zero percent.

  
 Page 2 

 “Alternate Rate” shall mean, with respect to each Interest Period
and each Component of the Loan, the per annum rate of interest equal to the greater of (i) the Alternate Index Rate plus the Alternate Rate Spread for such Component, and (ii) the Spread for such Component. 

“Alternate Rate Condition” is defined in Section 2.2(D)(i). 

“Alternate Rate Loan” shall mean the Loan at such time as interest thereon accrues at a per annum rate of interest
equal to the Alternate Rate for each Component. 
 “Alternate Rate Spread” shall mean, in connection with any
conversion of the Loan from (a) a Floating Interest Rate Loan to an Alternate Rate Loan, with respect to each Component, the difference (expressed as the number of basis points) between (1) LIBOR plus the Spread applicable to such
Component as of the Determination Date for which LIBOR was last available and (2) the Alternate Index Rate as of such Determination Date; or (b) a Prime Rate Loan to an Alternate Rate Loan, with respect to each Component, the difference
(expressed as the number of basis points) between (1) the Prime Index Rate applicable to such Component in effect for the Interest Period prior to the Interest Period in which the Alternate Rate is to be applied and (2) the Alternate Index
Rate as of such Determination Date; provided, however, that if such difference is a negative number, then the Alternate Rate Spread shall be zero percent. 

“AML Laws” is defined in Section 4.23. 

“Applicable Contribution” is defined in Section 14.35(F). 

“Applicable Spread” shall mean (a) the Spread when the Loan is a Floating Interest Rate Loan, 

(b) the Alternate Rate Spread when the Loan is an Alternate Rate Loan, and (c) the Prime Rate Spread when the Loan is a Prime Rate
Loan. 
 “Approved Accounting Firm” means BDO or a “Big Four” accounting firm. 

“Approved Annual Budget” is defined in Section 5.1. 

“Approved Architect” is defined in Section 6.2. 

“Approved LC Bank” means (a) a depository institution or trust company insured by the Federal Deposit Insurance
Corporation the long-term unsecured debt obligations of which are rated at least (i) “A+” by S&P (and the short-term deposits or short-term unsecured debt obligations or commercial paper of which are rated no less than “A-1” by S&P), (ii) “A+” by Fitch (and the short-term deposits or short-term unsecured debt obligations or commercial paper of which are rated no less than “F1” by Fitch) and (iii)
“A1” by Moody’s (and the short-term deposits or short-term unsecured debt obligations or commercial paper of which are rated no less than “P-1” by Moody’s), and(b) KeyBank
National Association, in its capacity as Letter of Credit issuer, provided that the applicable ratings of such entity are not reduced below the ratings in effect as of the Closing Date. 

“Approved Capital Expenditures Budget” is defined in Section 5.1. 

“Approved Extraordinary Expense” is defined in Section 5.1. 

  
 Page 3 

 “Approved ID Provider” shall mean each of CT Corporation,
Corporation Service Company, National Registered Agents, Inc., Wilmington Trust Company, Stewart Management Company and Lord Securities Corporation; provided, that, (A) the foregoing shall be deemed Approved ID Providers unless and until
disapproved by any Rating Agency and (B) additional national providers of Independent Directors may be deemed added to the foregoing hereunder to the extent approved in writing by Lender (which approval shall not be unreasonably withheld or
delayed) and the Rating Agencies. 
 “Approved Operating Budget” is defined in
Section 5.1. 
 “Assignee” is defined in Section 13.2. 

“Assignment of Cap” means the Collateral Assignment of Interest Rate Protection Agreement of even date herewith
between Borrower and Lender, and consented to by the Counterparty. 
 “Assignment of Management Agreement” shall
mean, individually and collectively, that certain Assignment of Management Agreement among the SST Borrowers, Lender, Strategic Storage Property Management II, LLC, and Sponsor dated as of the date hereof, and that certain Assignment of Management
Agreement among SSGT Borrowers, Lender, SS Growth Property Management II, LLC, and Sponsor dated as of the date hereof, as the same may be amended, restated, replaced, extended, renewed, supplemented or otherwise modified from time to time. 

“Assumed Note Rate” is defined in Section 2.8(A). 

“Authorized Officer” means the Chief Financial Officer, President or Chief Executive Officer of such Individual
Borrower or Guarantor (or such other authorized senior officer of such Individual Borrower or Guarantor as Lender may reasonably require). 

“Bankruptcy Code” means Title 11 of the United States Code, as amended from time to time, and all rules and
regulations promulgated thereunder. 
 “BDO” means BDO USA, LLP. 

“Benefit Amount” is defined in Section 14.35(D). 

“Blackout Period” means the period commencing on the Closing Date and ending on the earlier of (a) the date which
is sixty (60) days following the initial Securitization of the Loan and (b) the 180th day following the Closing Date. 

“Borrower” is defined in the preamble. 

“Borrower Parties” means each Individual Borrower, Operating Partnership, Mezzanine Borrower, and Guarantor. 

“Borrower’s Organizational Documents” is defined in Section 10.3. 

“Borrower’s TIR Share” shall mean 50% of all Tenant Protection Plan Net Revenue. 

“Brand” means (i) the “SmartStop” brand and related trademark names and other intellectual property and
systems that are currently and from time to time after the Effective Date used by Sponsor Affiliated Manager in connection with the use and operation of the self-storage properties (including the Property) managed under the “SmartStop”
brand (the “SmartStop Brand”), and (ii) any successor self-storage brand name approved by Lender pursuant the Assignment of Management Agreement or Section 7.7 for use at the Property, and related trademark
names and other intellectual property and systems used from time to time in connection with the use and operation of the Property. 

  
 Page 4 

 “Breakage Costs” is defined in
Section 2.2(E). 
 “Broker” means the broker stated on the Information Schedule. 

“Business Day” means any day excluding (i) Saturday, (ii) Sunday, (iii) any day which is a legal
holiday under the laws of the State of New York or the State of California, and (iv) any day on which banking institutions located in either such state are generally not open for the conduct of regular business. 

“Capital Expenditures” means expenditures for capital improvements, furnishings, fixtures and equipment (whether paid
in cash or property or accrued as liabilities) made by Borrower that, in conformity with GAAP, are required to be capitalized. 

“Cash Management Agreement” means the Cash Management Agreement of even date herewith by and among Borrower, Property
Manager, Deposit Bank and Lender, as same may be amended or modified, restated, replaced, or supplemented from time to time. 

“Cash Management Period” shall (i) commence upon the occurrence and continuance of any Cash Trap Event, and
(ii) end upon the occurrence of a Cash Trap Event Cure. Upon Borrower’s written request, upon the occurrence of a Cash Trap Event Cure, and provided that no other Cash Trap Event exists, Lender agrees to give notice to Clearing Bank that
the Cash Management Period has ended. 
 “Cash Trap Event” means (a) the occurrence of any Event of Default,
(b) a Debt Yield Trigger, or (c) the receipt by Lender of written notice from Mezzanine Lender that a Mezzanine Loan Default (other than as a result of an Event of Default hereunder) has occurred. 

“Cash Trap Event Cure” means, in each case provided that no other event that would cause a Cash Management Period to
commence has occurred and is continuing, (i) in the case of a Cash Trap Event described in clause (a) of the definition of Cash Trap Event, Lender accepts (in its sole discretion) a cure of the applicable Event of Default giving rise to
such Cash Trap Event and no other Event of Default exists, (ii) in the case of a Cash Trap Event described clause (b) of the definition of Cash Trap Event, upon the Lender’s reasonable determination that the Debt Yield is at least six
and three-quarters percent (6.75%) for two (2) consecutive calendar quarters, as calculated by Lender as of the end of each calendar quarter on a trailing twelve (12) month basis, and (iv) in the case of a Cash Trap Event described in
clause (c) of the definition of Cash Trap Event, Mezzanine Lender has delivered to Lender written notice that such Mezzanine Loan Default has been cured or waived (and no other Mezzanine Loan Default is then continuing). 

“Casualty” means any damage or destruction to any Individual Property, in whole or in party, by fire or other
casualty. 
 “Casualty Consultant” is defined in Section 6.2. 

“Cash Management Account” is defined in Section 3.2. 

“Change in Law” mean the occurrence, after the date of this Agreement, of any of the following: (a) the adoption
or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any

  
 Page 5 

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

“Clearing Account(s)” and is defined in Section 3.2. 

“Clearing Account Agreement” shall mean each deposit account control agreement of even date herewith by and among an
Individual Borrower, a Clearing Bank and Lender, as same may be amended or modified, restated, replaced, or supplemented from time to time. 

“Clearing Bank” shall mean, with respect to each Individual Property, the bank identified as the Clearing Bank with
respect to such Individual Property in the Information Schedule, or any successor or permitted assign Eligible Bank. 

“Closing” means the first funding of the Loan contemplated by this Agreement. 

“Closing Date” means the date on which the Closing occurs. 

“Closing Rent Roll” is defined in Section 4.7. 

“Co-Lender” is defined in the preamble. 

“Co-Lender Agreements” is defined in
Section 13.11(E). 
 “Collateral” means rights, interests, and property of every kind,
real and personal, tangible and intangible, that are granted, pledged, liened, or encumbered as security for the Loan or any of the other Obligations, including without limitation the Property. 

“Component” shall mean each component of the Loan as described in a Componentization Notice and “Components”
shall mean, collectively, all such components of the Loan; provided, that prior to the division of the Loan into two or more Components, the Loan shall be deemed to consist of a single Component. 

“Component Spread” is defined in Section 13.6(B). 

“Componentization Notice” is defined in Section 13.6(B). 

“Condemnation” means any temporary or permanent taking of (or affecting) any Individual Property by any Governmental
Authority pursuant to the exercise of the right of condemnation or eminent domain, and any transfer in lieu or in settlement of the assertion of any such right or the threat of such assertion. 

“Condemnation Proceeds” is defined in Section 6.2(E)(ii). 

“Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however
denominated) or that are franchise Taxes or branch profits Taxes. 

  
 Page 6 

 “Constituent Owner” shall mean, as to any Person, any Person that
owns a direct or indirect interest in such Person. 
 “Contractual Obligation,” as applied to any Person, means any
indenture, mortgage, deed of trust, contract, undertaking, agreement or other instrument to which that Person is a party or by which it or any of its properties is bound or to which it or any of its properties is subject including, without
limitation, the Loan Documents. 
 “Contribution” is defined in Section 14.35(A). 

“Control” shall mean the power to direct the management and policies of a Person, directly or indirectly, whether
through the ownership of voting securities or other beneficial interests, by contract or otherwise. The terms “Controlled” and “Controlling” shall have correlative meanings. 

“Converted Interest Rate Cap Agreement” is defined in Section 2.7(F)(i). 

“Counterparty” shall mean the counterparty under any Interest Rate Cap Agreement, Replacement Interest Rate Cap
Agreement, or Substitute Interest Rate Cap Agreement, which counterparty shall be an Acceptable Counterparty. 
 “Debt
Service” means, for any period, scheduled principal (if applicable) and interest payments hereunder (including, as and to the extent applicable, interest accruing at the Default Rate). 

“Debt Yield” means, as of any date of determination, a fraction, expressed as a percentage, determined by dividing
(i) the Underwritten Net Cash Flow calculated by Lender as of such date of determination, by (ii) the sum of (A) the outstanding principal balance of the Loan on such date and (B) the outstanding principal balance of the
Mezzanine Loan as of such date. 
 “Debt Yield Trigger” means the Debt Yield, as calculated by Lender as of the end
of any calendar quarter or any other date of determination thereof, is less than six and one-quarter percent (6.25%). 

“Deemed Approval Requirements” means, with respect to any applicable matter for which Lender’s approval is
requested, that (a) no Event of Default shall have occurred and be continuing (either at the date of any notices specified below or as of the effective date of any deemed approval), (b) Borrower shall have sent Lender a written request for
approval with respect to such matter in accordance with the applicable terms and conditions hereof, (c) Lender shall have failed to either approve or deny such request, or request any information and/or documentation relating to such request as
may be required in order to approve or disapprove such matter within ten (10) Business Days of receipt of the foregoing initial notice (or within ten (10) Business Days of Lender’s receipt of such requested information and/or
documentation, whichever is later), (d) Borrower shall have submitted a second request for approval with respect to such matter in accordance with the applicable terms and conditions hereof, which second notice shall have been marked in bold
lettering with the following language: “LENDER’S RESPONSE IS REQUIRED WITHIN TEN (10) BUSINESS DAYS OF RECEIPT OF THIS NOTICE PURSUANT TO THE TERMS OF THE LOAN AGREEMENT BETWEEN THE UNDERSIGNED AND LENDER. LENDER’S FAILURE TO
RESPOND TO THIS NOTICE WITHIN SUCH TEN (10) BUSINESS DAY PERIOD MAY RESULT IN LENDER’S APPROVAL OF THE MATTERS DISCUSSED HEREIN BEING DEEMED GRANTED PURSUANT TO THE LOAN AGREEMENT” and the envelope containing such second notice shall
have been marked “PRIORITY” in bold letters, (e) Lender has not requested additional information and/or documentation that has not been received by Lender, and (f) Lender shall have failed to respond to such second notice with a
disapproval or request for additional information and/or documentation within such ten (10) Business Day period. For purposes of clarification, Lender requesting additional and/or clarified information, in addition to approving or denying any
request (in whole or in part), shall be deemed a response by Lender for purposes of the foregoing. 

  
 Page 7 

 “Default” means the occurrence of any event hereunder or under the
other Loan Documents which, but for the giving of notice or passage of time, or both, would be an Event of Default. 
 “Default
Rate” is defined in Section 2.5. 
 “Deferred Maintenance Reserve” is defined
in Section 8.4. 
 “Deferred Maintenance Reserve Funds” is defined in
Section 8.4. 
 “Deposit Bank” shall mean the bank identified as the Deposit Bank in the
Information Schedule, or any successor or permitted assign Eligible Bank. 
 “Determination Date” means,
(i) with respect to any Interest Period that occurs while the Loan is a Floating Interest Rate Loan, the date that is two (2) London Business Days prior to the commencement date of such Interest Period or (ii) with respect to any
Interest Period that occurs while the Loan is a Prime Rate Loan or an Alternate Rate Loan, the date that is two (2) Business Days prior to the commencement date of such Interest Period. 

“Disclosure Document” shall mean a prospectus, prospectus supplement, private placement memorandum, offering
memorandum, offering circular, term sheet, road show presentation materials or other similar offering documents or marketing materials, in each case in preliminary or final form and including any amendments, supplements, exhibits, annexes and other
attachments thereto, used to offer Securities in connection with a Securitization. 
 “Division” is defined in
Section 10.1. 
 “Dollars” and the sign “$” mean the lawful money
of the United States of America. 
 “EEA Bail-In Action” means the exercise
of any EEA Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution. 

“EEA 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 EEA
Bail-In Legislation Schedule. 
 “EEA 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. 

“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. 

  
 Page 8 

 “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. 

“EEA 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 EEA Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EEA Bail-In Legislation Schedule. 
 “Eligible Account” shall mean a separate and
identifiable account from all other funds held by the holding institution, which account is maintained with an Eligible Bank. 

“Eligible Bank” shall mean a depository institution or trust company insured by the Federal Deposit Insurance
Corporation that satisfies the Rating Criteria. 
 “Environmental Indemnity” means the Environmental Indemnity
Agreement of even date herewith from Borrower and Guarantor to Lender, as same may be amended from time to time. 

“Environmental Laws” shall have the meaning given in the Environmental Indemnity. 

“Environmental Remediation Reserve”, “Environmental Remediation Reserve Funds” and
“Environmental Remediation Reserve Work” are defined in Section 8.5. 

“Environmental Reports” means collectively, the Phase I, Phase II, and other environmental studies pertaining to the
Property that have been delivered to Lender prior to Closing, as listed on the Information Schedule; each individually, an “Environmental Report.” 

“Equity Collateral” is defined in Section 13.8(B). 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended, and all rules and regulations
promulgated thereunder. 
 “Event of Default” is defined in Section 9.1. 

“Excess Cash” is defined in Section 3.2. 

“Excess Cash Reserve Account” is defined in Section 8.6. 

“Excess Cash Reserve Funds” is defined in Section 8.6.  

“Excess Interest” is defined in Section 2.2(C). 

“Excess Net Proceeds” is defined in Section 6.2(E). 

“Excess Proceeds” means, in connection with any Property Release, the greater of (i) zero and (ii) the
difference between (a) eighty percent (80%) of the proceeds from the sale of the applicable Release Property net of customary and reasonable closing costs (not to exceed six percent (6%) of the gross sales price) less (b) the sum of the
Minimum Release Amount and the Mezzanine Minimum Release Amount. 
 “Exchange Act” shall mean the Securities
Exchange Act of 1934, as the same may be amended, modified or replaced, from time to time. 

  
 Page 9 

 “Exchange Act Filing” is defined in
Section 5.1. 
 “Excluded Taxes” means any of the following Taxes imposed on or with
respect to a Lender or required to be withheld or deducted from a payment to a Lender, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result
of such Lender being organized under the laws of, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are
Other Connection Taxes, (b) U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or commitment pursuant to a law in effect on the date on which
(i) such Lender acquires such interest in the Loan or commitment or (ii) such Lender changes its lending office, except in each case to the extent that, pursuant to Section 2.10(D), 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 lending office, (c) Taxes attributable to such Lender’s failure to comply
with Section 2.10(D) and (d) any withholding Taxes imposed under FATCA. 
 “Excluded Tenant
Insurance Revenue” means the sum of (i) any portion of Tenant Insurance Revenue retained by or payable to Property Manager, its Affiliate or either of their respective assignees pursuant to the Management Agreement
(constituting 50% of Tenant Protection Plan Net Revenue) plus (ii) TIP Program Costs; provided that in no event shall Borrower’s TIR Share be Excluded Tenant Insurance Revenue. 

“Excluded TIR Disbursement” is defined in Section 3.2(B). 

“Extension Fee” means, with respect to any Extension Period, a non-refundable
fee equal to 0.25% (25 basis points) of the outstanding principal balance of the Loan as of the commencement of such Extension Period. 

“Extension Period” is defined in Section 2.4(A). 

“Extension Options” is defined in Section 2.4(A). 

“Extension Strike Price” shall have the meaning set forth in the definition of “Strike Price” herein. 

“Extraordinary Expense” is defined in Section 5.1. 

“FATCA” means Sections 1471 through 1474 of the IRC, 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 IRC 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 IRC. 

“Financial Statements” has the meaning set forth in Section 5.1. 

“Financing Statements” means the Uniform Commercial Code Financing Statements naming one or more of the Individual
Borrowers as debtor, and Lender as secured party. 
 “First Extended Maturity Date” means February 9, 2023.

  
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 “First Extension Option” means the first Extension Option provided
for in Section 2.4(A). 
 “Fiscal Year” is defined in
Section 5.1. 
 “Floating Interest Rate” shall mean, with respect to each Interest Period
and each Component, a fluctuating rate per annum equal to LIBOR plus the Spread for such Component. 
 “Foreign Co-Lender” means any Lender that is not that is a “United States Person” as defined in Section 7701(a)(30) of the IRC. 

“Floating Interest Rate Loan” shall mean the Loan at such time as the interest thereon accrues at a rate of interest
based on the Floating Interest Rate. 
 “Funding Borrower” is defined in Section 14.35(C).

 “GAAP” shall mean generally accepted accounting principles in the United States of America as of the date of the
applicable financial report. 
 “Gladstone Environmental Report” is defined in
Section 7.27(C). 
 “Governmental Authority” shall mean any court, board, agency,
commission, office or other authority of any nature whatsoever for any governmental unit (Federal, state, county, district, municipal, city or otherwise) whether now or hereafter in existence. 

“Gross Income from Operations” shall mean, for any period, all income, computed in accordance with GAAP, derived from
the ownership and operation of the Property from whatever source during such period, including, but not limited to, Rents from Tenants, Receipts, utility charges, escalations, forfeited security deposits, service fees or charges, license fees,
parking fees, and other pass-through or reimbursements paid by Tenants under the Leases of any nature but excluding (i) sales, use and occupancy or other taxes on receipts required to be accounted for by Borrower to any Governmental Authority,
(ii) allowances or compensation for any free rent or other concessions, (iii) refunds and uncollectible accounts, (iv) proceeds from the sale of furniture, fixtures and equipment, (v) any proceeds resulting from any Liquidation
Event, including, without limitation, any Insurance or Condemnation Proceeds, (vi) any disbursements to Borrower from any of the Reserve Funds, (vi) monies paid by Tenants (whether or not characterized as Rent) for Capital Expenditures,
(vii) capital improvements, (viii) security fees, (viii) interest from time to time on deposits (including Reserve Funds), (ix) equity capital contributions to Borrower, (x) sums collected through litigation other than non-payment of rent, (xi) security deposits prior to forfeiture thereof, and (xi) other non-recurring items. 

“Guaranteed Recourse Obligations of Borrower” is defined in Section 12.6. 

“Guaranty” or “Guaranties” means the Guaranty Agreement of even date herewith executed by
Guarantor in favor of Lender. 
 “Guarantor” means the Person(s) identified as “Guarantor” on the
Information Schedule. 
 “Guarantor Financial Covenants” shall have the meaning set forth in the Guaranty. 

“Hazardous Material” shall have the meaning given in the Environmental Indemnity. 

  
 Page 11 

 “Improvements” means all buildings, structures, fixtures, additions,
enlargements, extensions, modifications, repairs, replacements and other improvements existing or to be constructed upon the land which comprises any portion of an Individual Property or the Property. 

“Indebtedness” or “indebtedness,” means, for any Person, any indebtedness or other similar
obligation for which such Person is obligated (directly or indirectly, by contact, operation of law or otherwise), including, without limitation, (i) all indebtedness of such Person for borrowed money, for amounts drawn under a letter of
credit, or for the deferred purchase price of property for which such Person or its assets is liable, (ii) all unfunded amounts under a loan agreement, letter of credit, or other credit facility for which such Person would be liable if such
amounts were advanced thereunder, (iii) all amounts required to be paid by such Person by contract and/or as a guaranteed payment (including, without limitation, any such amounts required to be paid to partners and/or as a preferred or special
dividend, including any mandatory redemption of shares or interests), (iv) all indebtedness incurred and/or guaranteed by such Person, directly or indirectly (including, without limitation, contractual obligations of such Person), (v) all
obligations under leases that constitute capital leases for which such Person is liable, and (vi) all obligations of such Person under interest rate swaps, caps, floors, collars and other interest hedge agreements, in each case whether such
Person is liable contingently or otherwise, as obligor, guarantor or otherwise, or in respect of which obligations such Person otherwise assures a creditor against loss. 

“Indemnified Liabilities” is defined in Section 14.2. 

“Indemnified Parties” shall mean (a) Lender, (b) any successor owner or holder of the Loan or participations in
the Loan, (c) any Servicer or prior Servicer of the Loan, (d) any Investor or any prior Investor in any Securities, (e) any trustees, custodians or other fiduciaries who hold or who have held a full or partial interest in the Loan for
the benefit of any Investor or other third party, (f) any receiver or other fiduciary appointed in a foreclosure or other enforcement proceeding, (g) any officers, directors, shareholders, partners, members, employees, Affiliates or
subsidiaries of any and all of the foregoing, and (h) the heirs, legal representatives, successors and assigns of any and all of the foregoing (including, without limitation, any successors by merger, consolidation or acquisition of all or a
substantial portion of the Indemnified Parties’ assets and business), in all cases whether during the term of the Loan or as part of or following a foreclosure of the Loan. 

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

“Independent Director” is defined in Section 10.2(A).  

“Individual Borrower” is defined in the preamble. 

“Individual Property” means, individually, any one of the real properties identified on Schedule 1
hereto and as more particularly described in the applicable Security Instrument, and with respect to such real property, all Improvements, Equipment (as defined in the applicable Security Instrument) and personal property used in connection with or
incorporated into such real property, together with all rights pertaining thereto, all which serves as Collateral for the Loan and is encumbered by the applicable Security Instrument. 

“Information Schedule” shall mean Schedule 1 annexed to this Agreement. 

“Intercreditor Agreement” means any intercreditor or similar agreement between Lender and Mezzanine Lender now or
hereafter entered into from time to time, as the same may be amended, restated, supplemented, or otherwise modified from time to time. 

  
 Page 12 

 “Insolvency Opinion” shall mean (a) that certain bankruptcy non-consolidation opinion letter dated the date hereof delivered by Sharma, Smith & Gray, P.C. in connection with Closing of the Loan, and (b) each Additional Insolvency Opinion.

 “Insurance or Condemnation Proceeds” means Insurance Proceeds or Condemnation Proceeds. 

“Insurance Premiums” is defined in Section 6.1(B). 

“Insurance Proceeds” means the net amount of all insurance proceeds paid as a result of damage or destruction to any
Property. 
 “Interest Period” shall mean, with respect to each Component, (a) initially, the period commencing
on (and including) the Closing Date and ending on (and including) February 14, 2019 and (b) thereafter, the period commencing on (and including) the fifteenth (15th) day of each calendar
month during the term of the Loan and ending on (and including) the fourteenth (14th) day of the following calendar month. Each Interest Period as set forth in clause (b)
above shall be a full month and shall not be shortened by reason of any payment of the Loan prior to the expiration of such Interest Period. 

“Interest Rate” shall mean, with respect to each Interest Period: (a) an interest rate per annum equal to
(i) for a Floating Interest Rate Loan, the Floating Interest Rate, determined as of the Determination Date immediately preceding the commencement of such Interest Period, (ii) for a Prime Rate Loan, the Prime Rate, determined as of the
Determination Date immediately preceding the commencement of such Interest Period, and (iii) for an Alternate Rate Loan, the Alternate Rate, determined as of the Determination Date immediately preceding the commencement of such Interest Period;
or (b) when applicable pursuant to this Agreement or any other Loan Document, the Default Rate. 
 “Interest Rate Cap
Agreement” shall mean, collectively, one or more interest rate protection agreements (together with the confirmation and schedules relating thereto), between an Acceptable Counterparty and Borrower obtained by Borrower as and when
permitted or required pursuant to Section 2.7 hereof. After delivery of a Replacement Interest Rate Cap Agreement to Lender, the term “Interest Rate Cap Agreement” shall be deemed to mean such Replacement Interest
Rate Cap Agreement and such Replacement Interest Rate Cap Agreement shall be subject to all requirements applicable to the Interest Rate Cap Agreement. 

“Investor” means any investor or potential investor in the Loan (or any portion thereof or interest therein) in
connection with any Secondary Market Transaction. 
 “IRC” means the Internal Revenue Code of 1986, and any rule or
regulation promulgated thereunder from time to time, in each case as amended from time to time. 
 “IRS” means the
Internal Revenue Service or any successor agency replacing the same. 
 “Issuer” is defined in
Section 13.7(C). 
 “Knowledge”. Whenever in any of the Loan Documents, or in any document
or certificate given pursuant to any of the Loan Documents, reference is made to the knowledge of an entity (whether by use of the words “knowledge” or “known,” or other words of similar meaning, and whether or not the same are
capitalized), such shall be deemed to refer to the knowledge of the individuals who have material responsibility for policy making, major decisions, or financial affairs of such entity, and, if it appears in a document or certificate referred to
above, the person signing such document or certificate. 

  
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 “Lease” means any lease, tenancy, license, sublease, assignment
and/or other rental or occupancy agreement (including, without limitation, any and all guarantees of any of the foregoing) heretofore or hereafter entered into affecting the use, enjoyment or occupancy of the applicable Property or any portion
thereof, including any extensions, renewals, modifications or amendments thereof. 
 “Lease Settlement Payments”
means all funds received from or on behalf of Tenants or lease guarantors in connection with any termination of any Lease, including, but not limited to, any settlement amounts, cancellation fees, penalties, drawings under letters of credit, and
debits to Security Deposits. 
 “Legal Requirements” shall mean, as amended, with respect to Borrower and the
Property (including any operator thereon), all federal, state, county, municipal and other governmental statutes, laws, rules, orders, regulations, ordinances, judgments, decrees and injunctions of governmental authorities affecting Borrower or the
Property or any part thereof or the construction, use, alteration or operation thereof, or any part thereof, whether now or hereafter enacted and in force, including, without limitation, all Environmental Laws and the Americans with Disabilities Act
of 1990, and all permits, licenses and authorizations and regulations relating thereto, and all covenants, agreements, restrictions and encumbrances contained in any instruments, either of record or known to Borrower, at any time in force affecting
the Property or any part thereof, including, without limitation, any which may (i) require repairs, modifications or alterations in or to the Property or any part thereof, or (ii) in any way limit the use and enjoyment thereof. 

“Lender” is defined in the preamble. 

“Lender Affiliate” is defined in Section 13.7(C). 

“Lender Group” is defined in Section 13.7(C). 

“Letter of Credit” shall mean an irrevocable, auto-renewing, unconditional, transferable, clean sight draft standby
letter of credit having an initial term of not less than one (1) year and with automatic renewals for one (1) year periods (unless the obligation being secured by, or otherwise requiring the delivery of, such letter of credit is required
to be performed at least thirty (30) days prior to the initial expiry date of such letter of credit), for which Borrower shall have no reimbursement obligation and which reimbursement obligation is not secured by the Property or any other
property pledged to secure the Note, in favor of Lender and entitling Lender to draw thereon in New York, New York, based solely on a statement that Lender has the right to draw thereon executed by an officer or authorized signatory of Lender. A
Letter of Credit must be issued by an Approved LC Bank. 
 “Liabilities” means any losses, claims, damages or
liabilities. 
 “LIBOR” shall mean, with respect to each Interest Period, the rate (expressed as a percentage per
annum and rounded up or down, as applicable, to the next nearest 1/1000 of 1%) equal to the rate reported for deposits in U.S. dollars, for a one-month period, that appears on Reuters Screen LIBOR01 Page (or
the successor thereto) as of 11:00 a.m., London time, on the related Determination Date; provided that, (i) if such rate does not appear on Reuters Screen LIBOR01 Page (or the successor thereto) as of 11:00 a.m., London time,
on such Determination Date, Lender shall request the principal London office of any four major reference banks in the London interbank market selected by Lender to provide such bank’s offered quotation (expressed as a percentage per annum) to
prime banks in the London interbank market for deposits in U.S. dollars for a one-month period as of 11:00 a.m., London time, on such Determination Date for the amounts for a comparable loan at the time
of such calculation and, if at least two such offered quotations are so provided, LIBOR shall be the arithmetic mean of such quotations and (ii) if fewer than two such quotations in clause (i) are so provided, Lender
shall request any three major banks in New York City 

  
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selected by Lender to provide such bank’s rate (expressed as a percentage per annum) for loans in U.S. dollars to leading European banks for a
one-month period as of approximately 11:00 a.m., New York City time on the applicable Determination Date for the amounts for a comparable loan at the time of such calculation and, if at least two such
rates are so provided, LIBOR shall be the arithmetic mean of such rates. LIBOR shall be determined conclusively by Lender or its agent absent manifest error. Notwithstanding the foregoing, in no event shall LIBOR be less than zero percent. 

“Lien” means any lien, mortgage, pledge, security interest, charge or encumbrance of any kind, whether voluntary or
involuntary, (including any conditional sale or other title retention agreement, any lease in the nature thereof, any agreement to give any security interest, any mechanics lien and any stop notice). 

“Lien Claims” means all claims (including mechanics liens and claims for labor, services, materials and supplies) that
by law have or may become a Lien upon any of Collateral or any other property or assets of Borrower, or a Lien against Loan funds (including stop notices and other claims against Lender pertaining to disbursement of Loan funds or liability with
respect thereto). 
 “Lien Contest Criteria” is defined in Section 7.3. 

“Liquidation Event” means (i) any sale, transfer or other disposition or liquidation of any property or asset of
Borrower of any kind or any portion thereof, (ii) any sale, transfer or other disposition or liquidation of the Property or any portion thereof (including any foreclosure sale), (iii) any Casualty to the Property or any property or asset
of any kind or any portion thereof, (iv) any Condemnation of the Property or any property or asset of any kind or any portion thereof or (v) any refinancing of the Property or any property or asset of Borrower of any kind or any
refinancing of the Loan . 
 “LLC Agreement” is defined Section 10.1(B). 

“Loan” is defined in Section 2.1. 

“Loan Amount” means One Hundred Eighty Million and No/100 Dollars ($180,000,000.00). 

“Loan Assignees” is defined in Section 14.34(B). 

“Loan Documents” means all documents to which any Borrower Party is a party and that is accepted by Lender for the
purposes of evidencing, securing, guaranteeing and/or perfecting the Loan. The Loan Documents include, but are not limited to, this Agreement, the Note, the Security Instruments, the Assignment of Management Agreement, the Guaranty, the Cash
Management Agreement, each Clearing Account Agreement, the Environmental Indemnity, the Assignment of Cap, the Post-Closing Letter, and the Financing Statements. For the avoidance of doubt, the Mezzanine Loan Documents and Intercreditor Agreement
are not deemed to be Loan Documents. 
 “Loan Party” means each Individual Borrower and each Guarantor. 

“London Business Day” shall mean any day other than a Saturday, Sunday or any other day on which commercial banks in
London, England are not open for business. 
 “Loss” or “Losses” means, with respect to any
Person, all liabilities, obligations, losses, damages, fines, penalties, actions, proceedings, judgments, suits, claims, debts, costs, expenses, charges, fees, Taxes, awards, amounts paid in settlement, demands, and disbursements of any kind
or nature whatsoever (including attorneys’ fees) of or suffered or incurred by such Person in connection with or relating to the 

  
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Loan, the Property, or any other collateral for the Loan (but not including (a) special, speculative, exemplary, or punitive damages, or (b) consequential damages in the nature of
alleged “lost profits” or “lost opportunities”, in each case with respect to the foregoing clauses (a) and (b) except to the extent that a party seeking indemnification of such amount has
paid or is required to pay such measure of damages other than as a result of (and to the extent of) its own willful misconduct or fraud). 

“Management Agreement” means individually or collectively (as the context may require), each management agreement
entered into by and between Borrower and Property Manager, pursuant to which Property Manager is to provide management and other services with respect to the Property or any portion thereof, or, if the context requires, a Qualified Manager who is
managing the Property in accordance with the terms and provisions of this Agreement pursuant to a Replacement Management Agreement. 

“Management Fee” means all compensation paid or payable to Property Manager pursuant to the terms of the Management
Agreement. “Management Fee” does not include reimbursement to Property Manager for expenses incurred at any Individual Property for such Individual Property, but does include reimbursements for Property Manager’s overhead, for
employees of Property Manager who have duties that are not exclusive to the applicable Individual Property, and for other items which are allocated among more than one property which is owned or managed by Property Manager or its affiliates. In no
event shall “Management Fee” include any tenant payments of Tenant Insurance Revenue. 
 “Material Adverse
Effect” means a material adverse effect upon (a) the financial condition of any Individual Borrower (or Borrower collectively) or Guarantor, (b) the use, value or operation of any Individual Property (or the Property
collectively), (c) Net Operating Income, (d) the ability of any Individual Borrower (or Borrower collectively) to perform any of its material obligations under any Loan Documents, or (e) the perfection or priority of the lien,
enforceability, legality, validity or binding effect of any of the Security Instruments or other Loan Documents. In determining whether any individual event would result in a Material Adverse Effect, notwithstanding that such event does not of
itself have such effect, a Material Adverse Effect shall be deemed to have occurred if the cumulative effect of such event and all other than occurring events and existing conditions would result in a Material Adverse Effect. 

“Material Action” shall mean with respect to any Person, any action to consolidate or merge such Person with or into
any other Person, or sell all or substantially all of the assets of such Person, or to institute proceedings to have such Person be adjudicated bankrupt or insolvent, or consent to the institution of bankruptcy or insolvency proceedings against such
Person or file a petition seeking, or consent to, reorganization or relief with respect to such Person under any applicable federal or state law relating to bankruptcy, or consent to the appointment of a receiver, liquidator, assignee, trustee,
sequestrator (or other similar official) of such Person or a substantial part of its property, or make any assignment for the benefit of creditors of such Person, or admit in writing such Person’s inability to pay its debts generally as they
become due, or take action in furtherance of any such action, or, to the fullest extent permitted by law, dissolve or liquidate such Person. 

“Material Contract” means (a) any agreement providing for goods or services (including without limitation any
brokerage or leasing agreements other than Leases) for the benefit of any one or more Individual Borrowers or the Property or any Individual Property of a total value in excess of $50,000 annually for each Individual Property, or
(b) any agreement between any one or more Individual Borrowers and another Borrower Party or Affiliate of any Borrower Party, not terminable within thirty (30) days without penalty or premium; provided that (x) elevator service
contracts entered into in the ordinary course of business at the applicable Individual Properties and (y) any agreements with aggregators (terminable within thirty (30) days without penalty or premium) shall be excluded from this
definition. 

  
 Page 16 

 “Material Alteration” shall mean any alteration of the Improvements
or Equipment, the cost of which exceeds the Alteration Threshold; provided, however, that in no event shall any (i) Required Repairs, or (ii) alterations performed as part of a Restoration, constitute a Material Alteration. 

“Material Lease” means any Lease or proposed Lease that (a) provides for a use by the tenant thereunder other
than exclusively for self-storage purposes and with monthly rent payments in excess of $5,000.00, (b) when made, would cause the Tenant thereunder or its Affiliates to lease or pay base rents, in the aggregate, of (i) more than twenty percent
(20%) of the leasable space or aggregate base rents at any Individual Property, or (ii) more than one percent (1%) of the aggregate leasable space or aggregate base rents at all the Individual Properties in the aggregate, (c) contains any
option, offer, right of first refusal or other similar entitlement to acquire or encumber all or any portion of the Property (which shall exclude such rights to lease additional space in an Individual Property), (d) is made with an Affiliate of any
Borrower Party, or (e) is not entered into in the ordinary course of business for the Property. 
 “Maturity
Date” means (1) the Stated Maturity Date, provided that (a) in the event of the exercise by Borrower of the First Extension Option pursuant to Section 2.4(A), the Maturity Date shall be the First
Extended Maturity Date, and (b) in the event of the exercise by Borrower of the Second Extension Option pursuant to Section 2.4(A), the Maturity Date shall be the Second Extended Maturity Date, or (2) such earlier
date on which the unpaid principal amount of the Note becomes due and payable resulting from acceleration of the Obligations by Lender. 

“Maximum Rate” is defined in Section 2.2(C). 

“Member” is defined Section 10.1(B). 

“Mezzanine Account” means the bank account into which Lender will deposit amounts payable by Mezzanine Borrower to
Mezzanine Lender hereunder, pursuant to a written notice delivered by Mezzanine Lender to Lender, which Mezzanine Account may be changed by Mezzanine Lender from time to time by delivering written instructions to Lender containing the wiring
instructions for the new Mezzanine Account, provided, that, any such notice shall be delivered to Lender at least five (5) Business Days prior to the first Payment Date in which Mezzanine Lender requests Mezzanine Debt Service to be deposited
into the new Mezzanine Account. 
 “Mezzanine Borrower” means, collectively and/or individually (as the context
requires), (i) SST II Mezz Borrower, (ii) SST II TRS Mezz Borrower, and (iii) SSGT TRS Mezz Borrower. 
 “Mezzanine
Debt Service” means, with respect to any particular date or period, the aggregate scheduled interest payments due on the Mezzanine Loan under the Mezzanine Loan Documents on such date or during such period, as the case may be. 

“Mezzanine Lender” means KeyBank and Citigroup Global Markets Realty Corp., a New York Corporation, together with
their respective successors and assigns. 
 “Mezzanine Loan” means that certain loan made on the date hereof by
Mezzanine Lender to Mezzanine Borrower in the original principal amount of $55,000,000.00. 
 “Mezzanine Loan
Agreement” means that certain Mezzanine Loan Agreement dated as of the date hereof between Mezzanine Lender and Mezzanine Borrower, as the same may be restated, amended, replaced, supplemented, or otherwise modified from time to time.

  
 Page 17 

 “Mezzanine Loan Default” means an “Event of Default” under
the Mezzanine Loan as defined in the applicable Mezzanine Loan Documents. 
 “Mezzanine Loan Documents” means the
“Loan Documents” as defined in the Mezzanine Loan Agreement. 
 “Mezzanine Minimum Release Amount” means
the “Minimum Release Amount” as defined in the Mezzanine Loan Agreement. 
 “Mezzanine Property Release”
means a “Property Release” as defined in the Mezzanine Loan Agreement. 
 “Mezzanine Strike Price” means
the “Strike Price” as defined in the Mezzanine Loan Agreement. 
 “Mezzanine Monthly Debt Service Payment
Amount” shall mean, on each Payment Date, the “Monthly Debt Service Payment Amount” as defined in the Mezzanine Loan Agreement for the related Interest Period. 

“Mezzanine Release Amount” means the “Release Amount” as defined in the Mezzanine Loan Agreement. 

“Minimum Release Amount” means, in connection with a Property Release, the product of the Allocated Loan Amount for
the applicable Release Property multiplied by 125%; provided, however, in the event the Release Property is to be transferred or conveyed to an Affiliate of Borrower or Guarantor, then the “Minimum Release Amounts” shall be the product of
the Allocated Loan Amount for the applicable Release Property multiplied by 135%. 
 “Misrepresentation” is defined
in Section 9.1(H).  
 “Monthly Debt Service Payment Amount” shall mean, on each
Payment Date, the amount of interest which accrues on each Component of the Loan for the related Interest Period. 

“Moody’s” means Moody’s Investors Service, Inc. 

“Net Operating Income” shall mean, for any period, the amount obtained by subtracting Operating Expenses for such
period from Gross Income From Operations for such period. 
 “Net Proceeds Account” is defined in
Section 6.2. 
 “Net Proceeds Deficiency” is defined in
Section 6.2. 
 “Net Proceeds Threshold” shall mean (i) with respect to each
Individual Property, an amount equal to the lesser of (a) $2,500,000 and (b) thirty percent (30%) of the Allocated Loan Amount for such Individual Property in the case of a Casualty, and fifteen percent (15%) of the Allocated Loan Amount in the
case of a Condemnation, and (ii) with respect to all Individual Properties undergoing Restorations, an aggregate amount equal to four percent (4%) of the outstanding principal balance of the Loan. 

“New Mezzanine Borrower” is defined in Section 13.8(B). 

“New Mezzanine Loan” is defined in Section 13.8(B). 

  
 Page 18 

 “New Mezzanine Option” is defined in
Section 13.8(B). 
 “Note” is defined in Section 2.1. 

“Note A-1” is defined in Section 2.1. 

“Note A-2” is defined in Section 2.1. 

“Obligations” means the Loan and all other obligations, liabilities and indebtedness of every nature of Borrower from
time to time owed to Lender under the Loan Documents, including the principal amount of all debts, claims and indebtedness, accrued and unpaid interest and all fees, costs and expenses, whether primary, secondary, direct, contingent, fixed or
otherwise, heretofore, now and/or from time to time hereafter owing, due or payable, including any of the same accruing before, after or irrespective of the filing of a proceeding under the Bankruptcy Code by or against Borrower. 

“OFAC” is defined in Section 4.23. 

“O&M Plan” is defined in Section 7.27. 

“Operating Expenses” shall mean all costs and expenses of Borrower relating to the operation, maintenance and
management of the Property, including, without limitation, utilities, repairs, insurance, property taxes and assessments, advertising expenses, payroll and related taxes, equipment lease payments, and any management fee, reasonable travel expenses,
the costs of any insurance required by the terms of this Agreement, and all amounts paid into Reserves on a recurring basis (and excluding any amounts into Reserves as of the Closing Date or otherwise on a
one-time basis); provided, however, that “Operating Expenses” shall exclude (i) costs and expenses to the extent paid from Reserves, (ii) non-cash
items such as depreciation and amortization, (iii) Debt Service and Mezzanine Debt Service, (iv) income taxes or other charges in the nature of income taxes, (v) Capital Expenditures, (vi) any expenses incurred in connection with
the making of the Loan or any Liquidation Event, (vii) any item of expense that would otherwise be considered Operating Expenses pursuant to the foregoing provision but is paid directly by any Tenant, and (viii) expenses reasonably
determined by Lender to be non-recurring; and provided further that all costs and expenses comprising “Operating Expenses” shall be subject to reasonable adjustments by Lender to normalize such costs
and expenses (including, without limitation, seasonal adjustments) and in no event shall “Operating Expenses” include any payments to any Affiliate of Borrower. 

“Operating Partnership” means the Person identified as the “Operating Partnership” on the Information
Schedule. 
 “Other Connection Taxes” means, with respect to any Lender, Taxes imposed as a result of a present or
former connection between such Lender and the jurisdiction imposing such Tax (other than connections arising from such Lender having executed, delivered, become a party to, performed its obligations under, received payments under, received or
perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan 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 Loan Document, except any such Taxes
that are Other Connection Taxes imposed with respect to an assignment. 

  
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 “Participant” is defined in
Section 14.34(C). 
 “Participant Register” is defined in
Section 14.34(C). 
 “Patriot Act” is defined in Section 4.23.

 “Payment Date” shall mean, with respect to any Component, the ninth (9th) day of each calendar month during the term of the Loan, until and including the Maturity Date. The parties hereto acknowledge that the first Payment Date shall be March 9, 2019. 

“PBGC” means the Pension Benefit Guaranty Corporation or any successor governmental agency replacing the same. 

“Permitted Encumbrances” means (i) the Security Instruments and the other Liens of the Loan Documents in favor of
Lender, (ii) the items shown in Schedule B to each Title Policy as of Closing, (iii) Liens for property taxes and assessments not then delinquent, (iv) Liens arising after the date hereof which are being contested in good faith
by appropriate proceedings promptly instituted and diligently conducted in accordance with Section 7.3, (v) Leases in existence as of the Closing Date or entered into thereafter in accordance with this Agreement,
(vi) equipment leases or financing, subject to the provisions and limitation of Section 7.13(B), and (vii) any other Lien to which Lender may expressly consent in writing. 

“Permitted Indebtedness” is defined in Section 7.13. 

“Permitted Investments” shall mean any one or more of the following obligations or securities acquired at a purchase
price of not greater than par, including those issued by Servicer, the trustee under any Securitization or any of their respective Affiliates, payable on demand or having a maturity date not later than the Business Day immediately prior to the first
Payment Date following the date of acquiring such investment and meeting one of the appropriate standards set forth below: 

(i)    obligations of, or obligations fully guaranteed as to payment of principal and interest by, the
United States or any agency or instrumentality thereof provided such obligations are backed by the full faith and credit of the United States of America including, without limitation, obligations of: the U.S. Treasury (all direct or fully guaranteed
obligations), the Farmers Home Administration (certificates of beneficial ownership), the General Services Administration (participation certificates), the U.S. Maritime Administration (guaranteed Title XI financing), the Small Business
Administration (guaranteed participation certificates and guaranteed pool certificates), the U.S. Department of Housing and Urban Development (local authority bonds) and the Washington Metropolitan Area Transit Authority (guaranteed transit bonds);
provided, however, that the investments described in this clause must (A) have a predetermined fixed dollar of principal due at maturity that cannot vary or change, (B) if rated by S&P, must not have an “r” highlighter
affixed to their rating, (C) if such investments have a variable rate of interest, such interest rate must be tied to a single interest rate index plus a fixed spread (if any) and must move proportionately with that index, and (D) such
investments must not be subject to liquidation prior to their maturity; 
 (ii)    Federal Housing
Administration debentures; 
 (iii)    obligations of the following United States government sponsored
agencies: Federal Home Loan Mortgage Corp. (debt obligations), the Farm Credit System (consolidated systemwide bonds and notes), the Federal Home Loan Banks (consolidated debt obligations), the Federal National Mortgage Association (debt
obligations), the Financing Corp. (debt obligations), 

  
 Page 20 

 
and the Resolution Funding Corp. (debt obligations); provided, however, that the investments described in this clause must (A) have a predetermined fixed dollar of principal due at maturity
that cannot vary or change, (B) if rated by S&P, must not have an “r” highlighter affixed to their rating, (C) if such investments have a variable rate of interest, such interest rate must be tied to a single interest rate
index plus a fixed spread (if any) and must move proportionately with that index, and (D) such investments must not be subject to liquidation prior to their maturity; 

(iv)    federal funds, unsecured certificates of deposit, time deposits, bankers’ acceptances and
repurchase agreements with maturities of not more than 365 days of any bank, the short term obligations of which at all times are rated in the highest long term and short term rating categories by each Rating Agency (or, if not rated by all Rating
Agencies, rated by at least one Rating Agency in the highest long term and short term rating categories and otherwise acceptable to each other Rating Agency, as confirmed in writing that such investment would not, in and of itself, result in a
downgrade, qualification or withdrawal of the initial, or, if higher, then current ratings assigned to the Securities); provided, however, that the investments described in this clause must (A) have a predetermined fixed dollar of principal due
at maturity that cannot vary or change, (B) if rated by S&P, must not have an “r” highlighter affixed to their rating, (C) if such investments have a variable rate of interest, such interest rate must be tied to a single
interest rate index plus a fixed spread (if any) and must move proportionately with that index, and (D) such investments must not be subject to liquidation prior to their maturity; 

(v)    fully Federal Deposit Insurance Corporation-insured demand and time deposits in, or certificates of
deposit of, or bankers’ acceptances issued by, any bank or trust company, savings and loan association or savings bank, the short term obligations of which at all times are rated in the highest long term and short term rating categories by each
Rating Agency (or, if not rated by all Rating Agencies, rated by at least one Rating Agency in the highest long term and short term rating categories and otherwise acceptable to each other Rating Agency, as confirmed in writing that such investment
would not, in and of itself, result in a downgrade, qualification or withdrawal of the initial, or, if higher, then current ratings assigned to the Securities); provided, however, that the investments described in this clause must (A) have a
predetermined fixed dollar of principal due at maturity that cannot vary or change, (B) if rated by S&P, must not have an “r” highlighter affixed to their rating, (C) if such investments have a variable rate of interest, such
interest rate must be tied to a single interest rate index plus a fixed spread (if any) and must move proportionately with that index, and (D) such investments must not be subject to liquidation prior to their maturity; 

(vi)    debt obligations with maturities of not more than 365 days and at all times rated by each Rating
Agency (or, if not rated by all Rating Agencies, rated by at least one Rating Agency and otherwise acceptable to each other Rating Agency, as confirmed in writing that such investment would not, in and of itself, result in a downgrade, qualification
or withdrawal of the initial, or, if higher, then current ratings assigned to the Securities) in its highest long-term and short term unsecured rating categories; provided, however, that the investments described in this clause must (A) have a
predetermined fixed dollar of principal due at maturity that cannot vary or change, (B) if rated by S&P, must not have an “r” highlighter affixed to their rating, (C) if such investments have a variable rate of interest, such
interest rate must be tied to a single interest rate index plus a fixed spread (if any) and must move proportionately with that index, and (D) such investments must not be subject to liquidation prior to their maturity; 

(vii)    commercial paper (including both non-interest-bearing
discount obligations and interest-bearing obligations payable on demand or on a specified date not more than one year after the date of issuance thereof) with maturities of not more than 365 days and that at all times is rated

  
 Page 21 

 
by each Rating Agency (or, if not rated by all Rating Agencies, rated by at least one Rating Agency and otherwise acceptable to each other Rating Agency, as confirmed in writing that such
investment would not, in and of itself, result in a downgrade, qualification or withdrawal of the initial, or, if higher, then current ratings assigned to the Securities) in its highest long-term and short-term unsecured debt ratings; provided,
however, that the investments described in this clause must (A) have a predetermined fixed dollar of principal due at maturity that cannot vary or change, (B) if rated by S&P, must not have an “r” highlighter affixed to their
rating, (C) if such investments have a variable rate of interest, such interest rate must be tied to a single interest rate index plus a fixed spread (if any) and must move proportionately with that index, and (D) such investments must not
be subject to liquidation prior to their maturity; 
 (viii)    units of taxable money market funds,
which funds are regulated investment companies, seek to maintain a constant net asset value per share and invest solely in obligations backed by the full faith and credit of the United States, which funds have the highest long-term and short-term
ratings available from each Rating Agency (or, if not rated by all Rating Agencies, rated by at least one Rating Agency and otherwise acceptable to each other Rating Agency, as confirmed in writing that such investment would not, in and of itself,
result in a downgrade, qualification or withdrawal of the initial, or, if higher, then current ratings assigned to the Securities) for money market funds; and 

(ix)    any other security, obligation or investment requested in writing by Borrower which has been
approved as a Permitted Investment in writing by (a) Lender and (b) each Rating Agency, as evidenced by a written confirmation that the designation of such security, obligation or investment as a Permitted Investment will not, in and of
itself, result in a downgrade, qualification or withdrawal of the initial, or, if higher, then current ratings assigned to the Securities by such Rating Agency; 

provided, however, that no obligation or security shall be a Permitted Investment if (A) such obligation or security evidences a right to
receive only interest payments or (B) the right to receive principal and interest payments on such obligation or security are derived from an underlying investment that provides a yield to maturity in excess of 120% of the yield to maturity at
par of such underlying investment. 
 “Permitted Transfers” is defined in Section 11.1.

 “Permitted Use” is stated in the Information Schedule. 

“Person” means and includes natural persons, corporations, limited liability companies, limited partnerships, general
partnerships, joint stock companies, joint ventures, associations, companies, trusts, banks, trust companies, land trusts, business trusts or other organizations, whether or not legal entities, and governments and agencies and political subdivisions
thereof and their respective permitted successors and assigns (or in the case of a governmental Person, the successor functional equivalent of such Person). 

“Policy” and “Policies” are defined in Section 6.1(B). 

“Post-Closing Letter” means that certain Post-Closing Letter, dated as of the date hereof, made by Borrower in
favor of Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time. 
 “Prime
Index Rate” shall mean, with respect to each Interest Period, the annual rate of interest published in The Wall Street Journal from time to time as the “Prime Rate” for the U.S. on the related Determination Date. If
The Wall Street Journal ceases to publish the “Prime Rate,” the Lender shall select 

  
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an equivalent publication that publishes such “Prime Rate,” and if such “Prime Rates” are no longer generally published or are limited, regulated or administered by a
governmental or quasi-governmental body, then Lender shall select a comparable interest rate index. Notwithstanding the foregoing, in no event shall the Prime Index Rate be less than zero percent. 

“Prime Rate” shall mean, with respect to each Interest Period and each Component, the per annum rate of interest equal
to the greater of (i) the Prime Index Rate plus the Prime Rate Spread for such Component, and (ii) the Spread for such Component. 

“Prime Rate Loan” shall mean the Loan at such time as interest thereon accrues at a rate of interest equal to the
Prime Rate for each Component. 
 “Prime Rate Spread” shall mean, with respect to each Component, the difference
(expressed as the number of basis points) between (a) LIBOR plus the Spread for such Component on the date LIBOR was last applicable to the Loan and (b) the Prime Index Rate on the date that LIBOR was last applicable to the Loan;
provided, however, in no event shall such difference be a negative number. 
 “Prior Loan” means,
collectively, the “Prior Loans” identified in the Information Schedule. 
 “Property” means, collectively,
each Individual Property. 
 “Property Condition Report” means each “Property Condition Report” identified
on the Information Schedule. 
 “Property Documents” shall mean any “covenants, conditions and
restrictions” agreement or similar agreements of record and shown on each Title Policy relating to the construction, operation or use of any Individual Property, together with all amendments, modifications or supplements thereto, it being
understood and agreed that neither the Management Agreements, or any utility easement, or any Lease shall constitute Property Documents. 

“Property Manager” means each Person charged with management of any Individual Property pursuant to a Management
Agreement. The Person so identified on the Information Schedule is currently the Property Manager for each Individual Property under a separate Management Agreement for each Individual Property. 

“Property Release” is defined in Section 2.13. 

“Property Release Notice” is defined in Section 2.13(A). 

“Qualified Insurer” is defined in Section 6.1(B). 

“Qualified Manager” means (a) Sponsor Affiliated Manager, or (b) a property manager approved by Lender that
in the reasonable judgment of Lender, is a reputable and experienced management organization (which may be an Affiliate of Borrower) possessing experience in managing properties similar in size, scope, use and value as the Property, that is not the
subject of a bankruptcy or similar insolvency proceeding; provided, that, if required by Lender, Borrower shall have obtained (i) a Rating Agency Confirmation with respect to such property manager and the management of the Property by
such property manager and (ii) if the property manager is an Affiliated Manager, an Additional Insolvency Opinion. For the avoidance of doubt, the Sponsor Affiliated Manager shall remain a Qualified Manager in the event of a Self Administration
Transaction. 

  
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 “Ratable Share” shall mean, with respect to any Co-Lender, its share of the Loan based on the proportion of the outstanding principal of the Loan advanced by such Co-Lender to the total outstanding principal amount of the
Loan. The Ratable Share of each Co-Lender on the date of this Agreement after giving effect to the funding of the Loan on the Closing Date is (i) KeyBank: 50% and (ii) Citi: 50%. 

“Rate Conversion” is defined in Section 2.7(F). 

“Rating Agency Confirmation” shall mean, collectively, in connection with or following a rated Securitization, a
written affirmation from each of the Rating Agencies (obtained at Borrower’s sole cost and expense) that the credit rating of the Securities given by such Rating Agency of such Securities immediately prior to the occurrence of the event with
respect to which such Rating Agency Confirmation is sought will not be qualified, downgraded or withdrawn as a result of the occurrence of such event, which affirmation may be granted or withheld in such Rating Agency’s sole and absolute
discretion. In the event that, at any given time, any Rating Agency elects not to consider whether to grant or withhold such an affirmation, then the term Rating Agency Confirmation by such Rating Agency shall be deemed instead to require the
written reasonable approval of Lender. 
 “Rating Agencies” means Fitch, Inc., Moody’s, Morningstar Credit
Ratings, LLC, S&P, DBRS, Inc. and Kroll Bond Ratings or any successor thereto, and any other nationally recognized statistical rating organization to the extent that any of the foregoing have been or will be engaged by Lender or its designees in
connection with or in anticipation of a Securitization (each individually, a “Rating Agency”). 
 “Rating
Criteria” with respect to any Person, shall mean (a) that (i) the short-term unsecured debt obligations of such Person are rated at least “A-1” by S&P, P-1” by Moody’s and “F-1+” by Fitch and, if rated by another Rating Agency, are rated in an equivalent category by such other Rating Agency, if deposits
are held by such Person for thirty (30) days or less, and (ii) the long-term unsecured debt obligations of such Person are rated at least “A” by S&P, “A” by Fitch (and the short term unsecured debt obligations of
such Person are rated no less than “F1” by Fitch), “A1” by Moody’s and, if rated by another Rating Agency, are rated in an equivalent category by such other Rating Agency, if deposits are held by such Person for a period of
more than thirty (30) days, and (b) KeyBank National Association in its capacity as Clearing Bank or Deposit Bank, provided that the applicable ratings of such entity are not reduced below the ratings in effect as of the Closing Date. 

“Receipts” means, with respect to the applicable periods set forth in this Agreement, all gross receipts, Rents
(excluding Security Deposits except as set forth in clause (d) below), revenues, income, fees, payments and consideration actually collected by Borrower (or by Property Manager on behalf of any Individual Borrower) from any and all sources in
any way, manner or respect relating to and/or arising from or in connection with the Property or any part thereof including, without limitation, (a) gross fixed, minimum, guaranteed percentage, overage and similar rentals and all other sums
including, without limitation, expense reimbursements, payment for services, late fees and interest, paid by any Tenant or other occupants, licensees or users of the Property or any part thereof to or for the account or benefit of any Individual
Borrower, (b) amounts paid to or for the account or benefit of any Individual Borrower, as a result of provisions in Leases permitting the landlord thereunder to receive or share in receipts from the subleasing of space demised under, or the
assignment of, Leases, (c) payments made by any Tenant in consideration of, or with respect to, a Lease termination, modification and/or consent, (d) Tenants’ security and other deposits to the extent they have been applied to payment
of Tenants’ obligations, (e) [intentionally omitted], (f) net proceeds from refunds obtained as a result of pursuing available legal remedies in contesting the validity of any impositions or as a result of a reduction of assessed valuation of
any Individual Property, (g) damages or settlement payments paid by third parties in connection with the Property (other than in respect of personal injury claims), (h) income, rentals and receipts derived from any ancillary businesses,
licenses and concessions at any Individual Property, (i) refunds of insurance premiums or any 

  
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other item which would constitute an Operating Expense if paid by Borrower, (j) deposits paid to or for the account or benefit of any Individual Borrower as a result of the failure of any
sale to take place under any purchase agreement for the sale of the Property or portion thereof, and (k) all other amounts payable to Borrower during such period in respect of items which, in accordance with GAAP, would be included in such
Person’s Financial Statements for such period or any other period as operating income of the Property and which are reasonably expected to be regularly recurring following the calculation date. Notwithstanding the foregoing clauses
(a) through (k), Receipts shall not include: (1) any proceeds resulting from any Liquidation Event (including, without limitation, any proceeds resulting from the Transfer of all or any part of the Property or the Collateral or any
Insurance or Condemnation Proceeds (other than business interruption or other loss of income insurance)), (2) unapplied security or other deposits paid by Tenants, or (3) Excluded Tenant Insurance Revenues (but shall include Borrower’s TIR
Share received by Borrower). Lender’s calculation of Receipts (including the determination of items that do not qualify as Receipts) shall be binding and conclusive absent manifest error. 

“Register” is defined in Section 14.34(b). 

“Registered Loan” is defined in Section 14.34(b). 

“Registrar” is defined in Section 14.34(a). 

“Registration Statement” is defined in Section 13.7(C). 

“Regulation AB” shall mean Regulation AB under the Securities Act and the Exchange Act, as such Regulation may be
amended from time to time. 
 “Reimbursement Contribution” is defined in Section 14.35(C).

 “REIT” shall mean a real estate investment trust within the meaning of Section 856 of the IRC. 

“Related Person” means any Borrower Party and any Affiliate of any Borrower Party. 

“Release Amount” means, with respect to each Release Property, an amount equal to sum of (i) Minimum Release
Amount plus (ii) the Allocated Excess Proceeds, if any. 
 “Release Conditions” is defined in
Section 2.13. 
 “Release Date” is defined in Section 2.13(A).

 “Release Property” is defined in Section 2.13. 

“Relevant Sections” is defined in Section 13.7(C). 

“REMIC Opinion” shall mean, as to any matter, an opinion as to the compliance of such matter with
applicable REMIC Requirements (which such opinion shall be, in form and substance and from nationally recognized tax counsel experienced in such matters , in each case, acceptable to Lender and acceptable to the Rating Agencies). 

“REMIC Requirements” shall mean any applicable legal requirements relating to any REMIC Trust (including, without
limitation, those relating to the continued treatment of the Loan (or the applicable portion thereof and/or interest therein) as a “qualified mortgage” held by such REMIC Trust, the continued qualification of such REMIC Trust as such under
the IRC, the non-imposition of any tax on such REMIC 

  
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Trust under the IRC (including, without limitation, taxes on “prohibited transactions and “contributions”) and any other constraints, rules and/or other regulations and/or
requirements relating to the servicing, modification and/or other similar matters with respect to the Loan (or any portion thereof and/or interest therein) that may now or hereafter exist under applicable legal requirements (including, without
limitation under the IRC)). 
 “REMIC Trust” shall mean any “real estate mortgage investment conduit”
within the meaning of Section 860D of the IRC that holds any interest in all or any portion of the Loan. 

“Rents” means all consideration paid under any Lease by or on behalf of any Tenant, and all other revenue, income,
issues, profits, deposits (including Security Deposits) and proceeds arising from the Leases or from the from the use or occupancy of the Property or any portion thereof (including but not limited to all oil, gas and other mineral royalties,
Insurance Proceeds, Condemnation Proceeds, and proceeds of sale), provided that the payment of the Management Fee by Borrower to Property Manager shall not be included in the definition of “Rents,” although the revenue from which such
payment is made is included in such definition. Without limitation, “Rents” includes all payments owing to Borrower by any Tenant as reimbursement for or on account of operating expenses, common area maintenance charges, taxes or insurance
premiums and Borrower’s TIR Share received by Borrower; provided, however, that in no event shall “Rents” include any Excluded Tenant Insurance Revenue. 

“Replacement Interest Rate Cap Agreement” shall mean, collectively, one or more interest rate protection agreements
from an Acceptable Counterparty with a strike price of not less than the Strike Price and on other terms substantially similar to the Interest Rate Cap Agreement (or as otherwise reasonably acceptable to Lender) except that the same shall be
effective as of the date required in Section 2.7(C) or if such interest rate protection agreement is delivered in connection with an extension of the Maturity Date pursuant to Section 2.8 shall
meet the requirements set forth in Section 2.4(A)(iv); provided that to the extent any such interest rate protection agreements do not meet the foregoing requirements, a “Replacement Interest Rate Cap
Agreement” shall be such interest rate protection agreements approved in writing by Lender and the applicable Rating Agencies with respect thereto. 

“Replacement Management Agreement” means, collectively, (a) a management agreement with a Qualified Manager that
is reasonably approved by Lender in writing, which approval, after a Securitization, may be conditioned upon Lender’s receipt of a Rating Agency Confirmation with respect to such management agreement, provided, however, that
without Lender’s prior consent, in its sole discretion, the management fee for such Qualified Manager shall not exceed the fee provided for in the Management Agreement in effect as of the closing of the Loan, and (b) an assignment of
management agreement and subordination of management fees substantially in the form then used by Lender (or of such other form and substance reasonably acceptable to Lender), executed and delivered to Lender by Borrower and such Qualified Manager at
Borrower’s expense. 
 “Replacement Reserve” is defined in Section 8.2. 

“Replacement Reserve Funds” is defined in Section 8.2. 

“Required Records” is defined in Section 5.2. 

“Required Repairs” is defined in Section 8.4. 

“Reserve Disbursement Conditions” is defined in Section 8.8. 

  
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 “Reserve Funds” shall mean, collectively, all funds deposited into
the Reserves, including, without limitation, the Taxes and Insurance Reserve Funds, the Deferred Maintenance Reserve Funds, the Environmental Remediation Reserve Funds and the Replacement Reserve Funds. 

“Reserves” means the reserves held by or on behalf of Lender pursuant to this Agreement or other Loan Document,
including without limitation, the reserves established pursuant to Article VIII. Reserves that are designated on Schedule 8.1 annexed hereto shall be referred to in this Agreement by the respective names designated therein in the
column entitled “Name of Reserve”. 
 “Resizing Option” is defined in
Section 13.8(A). 
 “Restoration” is defined in Section 6.2.

 “Retention Amount” is defined in Section 6.2. 

“S&P” shall mean Standard & Poor’s Rating Services, a division of The McGraw-Hill Companies, Inc.

 “Sanctioned Person” is defined in Section 4.23. 

“Sanctions” is defined in Section 4.23. 

“Sanctions Authority” is defined in Section 4.23. 

“Sanctions Jurisdiction” is defined in Section 4.23. 

“Second Extended Maturity Date” means February 9, 2024. 

“Second Extension Option” means the second Extension Option provided for in Section 2.4(A).

 “Secondary Market Transaction” means any of (i) the sale, assignment, or other transfer of all or any
portion of the Obligations or the Loan Documents or any interest therein to one or more Investors or other Persons, including a transfer in connection with a Securitization, (ii) the sale, assignment, or other transfer of one or more
participation interests in the Obligations or Loan Documents to one or more Investors or other Persons, or (iii) the transfer or deposit of all or any portion of the Obligations or Loan Documents to or with one or more trusts or other entities
which may sell certificates or other instruments to investors evidencing an ownership interest in the assets of such trust or the right to receive income or proceeds therefrom. 

“Securities” (whether or not capitalized) means any stock, shares, voting trust certificates, bonds, debentures,
options, warrants, notes, or other evidences of indebtedness, secured or unsecured, convertible, subordinated or otherwise, or in general any instruments commonly known as “securities” or any certificates of interest, shares or
participations in temporary or interim certificates for the purchase or acquisition of, or any right to subscribe to, purchase or acquire, any of the foregoing. 

“Securities Act” shall mean the Securities Act of 1933, as the same may be amended, modified or replaced, from time to
time. 
 “Securitization” shall mean the grant of participation interests in the Loan or the issuance of mortgage
pass-through certificates or other securities evidencing a beneficial interest in a rated or unrated public offering or private placement of the Loan or any portion thereof. 

  
 Page 27 

 “Security Deposits” shall mean all security (whether cash, letter of
credit or otherwise) given to any Individual Borrower or any agent or Person acting on behalf of any Individual Borrower in connection with the Leases. 

“Security Instrument” means any mortgage, deed of trust, or deed to secure debt of even date herewith from Borrower to
(or for the benefit of) Lender, covering the Property securing performance and repayment of the Loan, as same may be amended or modified from time to time (collectively, the “Security Instruments”). 

“Self Administration Transaction” shall mean a self-managed transaction by the Guarantor pursuant to which, inter
alia, the Guarantor is no longer externally advised by the Sponsor or its Affiliates and the Guarantor acquires 100% of the equity interests in the Sponsor Affiliated Manager and/or other Affiliates of the Sponsor, which may include certain
employees of the Sponsor. 
 “Servicer” means any servicer selected by Lender from time to time in its sole
discretion to service the Loan, including any “master servicer’ and “special servicer” appointed pursuant to any pooling and servicing agreement or similar agreement entered into in connection with a Secondary Market Transaction.

 “Servicing Agreement” means any servicing agreement between Lender and Servicer. 

“Severed Loan Documents” is defined in Section 13.6. 

“Significant Obligor” shall have the meaning set forth in Item 1101(k) of Regulation AB under the Securities Act. 

“SmartStop Brand” is defined in the definition of “Brand” above. 

“Sole Member” means the Mezzanine Borrower. 

“SPE Bankruptcy Remote Entity” shall mean an entity satisfying all of the requirements set forth on Article X.

 “Sponsor” shall mean the Person named as a “Sponsor” on the Information Schedule. 

“Sponsor Advisor” shall mean the Person named as a “Sponsor Advisor” on the Information Schedule. 

“Sponsor Affiliated Manager” shall mean each Person named as a “Sponsor Affiliated Manager” on the
Information Schedule, or either or any of them, or the applicable one, as the context may require. 
 “Special
Member” is defined Section 10.1(B). 
 “Spread” shall mean (i) prior to
the date the Loan is divided into two or more Components, 300 basis points (3.00%) per annum, and (ii) from and after the date the Loan is divided into two or more Components, with respect to each Component, the Component Spread applicable to
such Component set forth in the Componentization Notice in accordance with and subject to the provisions of Section 13.6(B). 

“Spread Maintenance Date” means the Payment Date in February, 2021. 

  
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 “Spread Maintenance Premium” as to any prepayment of principal (or
acceleration of the Loan) for which a Spread Maintenance Premium is due hereunder shall mean an amount equal to the amount of interest (as determined by Lender) that would have accrued assuming an interest rate per annum equal to the Applicable
Spread corresponding to the applicable Component(s) on the amount being prepaid from and after the date of such prepayment through the end of the Interest Period that includes the Spread Maintenance Date, with no discount to present value. For
purposes of calculating the amounts above, the prepayment of the Loan (or the amount of the Loan accelerated) will be deemed to have been applied in reduction of the outstanding principal balances of the Components of the Loan in accordance with
Section 2.8. The total Spread Maintenance Premium shall be the sum of the Spread Maintenance Premium for each of the applicable Components. For purposes of clarity, no Spread Maintenance Premium shall be due or payable in
connection with any prepayment made on or after the Spread Maintenance Date. 
 “SS Growth TRS” means SS Growth TRS,
Inc., a Delaware corporation. 
 “SSGT Borrowers” means those entities described as “SSGT Borrowers” on
the Information Schedule. 
 “SSGT TRS Mezz Borrower” means SSG TRS Mezz, LLC, a Delaware limited liability company.

 “SST II Mezz Borrower” means SST II Mezz Borrower, LLC, a Delaware limited liability company. 

“SST II TRS Mezz Borrower” means SST II TRS Mezz, LLC, a Delaware limited liability company. 

“SST Borrowers” means those entities described as “SST Borrowers” on the Information Schedule. 

“Stated Maturity Date” means February 9, 2022. 

“Statutory Bond Criteria” is defined in Section 7.3. 

“Strategic Storage TRS II” means Strategic Storage TRS II, Inc., a Delaware corporation. 

“Strike Price” shall mean: 

(a) for the period ending on the Stated Maturity Date, 3.00% per annum; and 

(b) during each Extension Period, a per annum rate not more than the rate that would, when set forth as (i) the Strike
Price in the definition of Underwritten Debt Service and the Mezzanine Strike Price in the definition of Aggregate Underwritten Debt Service, in each case applicable for purposes of calculating the Aggregate DSCR, result in the Aggregate DSCR,
calculated as of the first day of such Extension Period, to be equal to or greater than 1.25: 1.00 (the “Extension Strike Price”). 

“Subaccounts” is defined in Section 3.2(A). 

“Substitute Interest Rate Cap Agreement” is defined in Section 2.7(G). 

“Succeeding Interest Period” is defined in Section 2.8(A). 

  
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 “Taxes” means all present or future taxes and impositions
(including, without limitation, all real estate, ad valorem, sales (including those imposed on lease rentals), use, single business, gross receipts, value added, intangible transaction privilege, privilege, license or similar taxes), assessments,
ground rents, water, sewer or other rents and charges, excises, levies, fees (including, without limitation, license, permit, inspection, authorization and similar fees), imposts, duties, deductions, withholdings (including backup withholding), and
all similar other governmental charges, in each case whether general or special, ordinary or extraordinary, foreseen or unforeseen (including all interest, additions to tax and penalties thereon). 

“Taxes and Insurance Reserve” is defined in Section 8.1. 

“Taxes and Insurance Reserve Funds” is defined in Section 8.1. 

“Tenant” means any permitted occupant, tenant, subtenant or licensee of the Property. 

“Tenant Insurance Plan” means any tenant insurance plan, protection plan or indemnity program. 

“Tenant Insurance Revenue” means any revenue from any Tenant Insurance Plan purchased by a Tenant at any Individual
Property. 
 “Tenant Protection Plan Net Revenue” shall mean Tenant Insurance Revenue, after deducting TIP Program
Costs associated with offering any Tenant Insurance Plan to Tenants at any Individual Property. 
 “Terrorism Premium
Cap” is defined in Schedule 6.1. 
 “TIR Disbursement Conditions” is defined in
Section3.2(B).  
 “TIP Program Costs” shall mean the reasonable program costs associated with
offering any Tenant Insurance Plan to Tenants at any Individual Property. 
 “Title Company” means the title
insurance company identified as “Title Company” on the Information Schedule, or such other national title insurance company as may be reasonably acceptable to Lender. 

“Title Policy” means each mortgagee’s policy or policies of title insurance pertaining to a Security Instrument
issued to Lender by Title Company in connection with the Closing. 
 “Transfer” is defined in
Section 11.1. 
 “Transfer and Assumption” is defined in
Section 11.3. 
 “Transferee Borrower” is defined in
Section 11.3. 
 “Transition Cooperation” shall have the meaning set forth in the
Assignment of Management Agreement. 
 “Transition Period” is defined in Section 7.7. 

“TRS Borrowers” means the following Individual Borrowers: (i) SST II TRS Mortgage, LLC, a Delaware limited
liability company (“SST II TRS Borrower”); and (ii) SSGT TRS Mortgage, LLC, a Delaware limited liability company (“SSGT TRS Borrower”). 

  
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 “Trust Fund Expenses” means, without duplication: (i) any fees,
out-of-pocket costs and expenses, advance and/or taxes due or reimbursable to, or payable by, the Servicer, any special servicer or the trustee or trust advisor under
any Servicing Agreement and the certificate administrator in connection with or resulting from (a) Lender exercising its rights with respect to the protection and preservation of the Property or any part thereof in accordance with the terms of
this Agreement, (b) the exercise by Lender of its remedies in accordance with the terms of the Loan Documents, (c) any request made by Borrower under the Loan Documents, or (d) any Event of Default; (ii) all customary special
servicing fees, customary work-out and liquidation fees payable to any Servicer or special servicer under any Servicing Agreement as a result of an Event of Default under the Loan or the Loan becoming
specially serviced, or any enforcement, refinancing, resolution, liquidation or restructuring of the credit arrangements provided under this Agreement in the nature of a “work-out” of the Loan
Documents, or any insolvency or bankruptcy proceeding, or any other similar fees that are due and payable to Servicer or special servicer under any Servicing Agreement; and (iii) fees, out-of-pocket costs or expenses related to any Rating Agency Confirmation required under the Loan Documents or in connection with a Borrower request; (iv) interest on advances by the Servicer, special
servicer and/or trustee and costs incurred by the Servicer, special servicer, trustee or trust advisor in respect of enforcement of the rights of Lender against Borrower and/or Guarantor (to the extent not reimbursed from Default Rate interest
actually paid by Borrower) after the occurrence and during the continuance of an Event of Default; and (v) out-of-pocket costs of all property inspections and/or
appraisals of any Individual Property (or any updates to any existing inspection or appraisal) required under the Servicing Agreement or that the special servicer may otherwise reasonably require, provided that except for inspections and/or
appraisals otherwise permitted pursuant to this Agreement, in no event shall Borrower be required to pay for any such inspections or appraisals prior to the occurrence of an Event of Default or the Loan becoming a specially serviced mortgage loan
pursuant to the terms of the applicable Servicing Agreement or to the extent the same arise by reason of the gross negligence, illegal acts, fraud or willful misconduct of Servicer, any special servicer or the trustee or trust advisor under any
Servicing Agreement. 
 “Unencumbered Borrower” is defined in Section 2.13. 

“Underwritten Debt Service” means as of any date of determination thereof, the aggregate sum of the products, for all
Components, of the (a) an interest rate for each Component equal to the sum of (i) the Strike Price plus (ii) the Applicable Spread for such Component, multiplied by (b) the outstanding principal balance of each such Component.

 “Underwritten Group” is defined in Section 13.7(C). 

“Underwritten Management Fee” means the “Underwritten Management Fee” identified in the Information
Schedule. 
 “Underwritten Net Cash Flow” means, for any trailing twelve (12) month period, Lender’s
reasonable calculation of the excess of (A) the sum of (i) rental income for the applicable period actually paid by Tenants under Leases for such period Property pursuant to Leases that are in full force and effect (including the pro rata
amounts of rental income for Leases where Tenants prepaid such rental obligations), and (ii) all amounts other than rental income actually paid to Borrower for such period in respect of items which would be included in Borrower’s Financial
Statements for such period as operating income of the Property in accordance with GAAP, including, but not limited to common area maintenance, real estate tax recoveries, utility recoveries, other miscellaneous expense recoveries, income generated
by from solar energy lease income and other miscellaneous income derived from self-storage operations, but excluding (1) sales, use and occupancy or other taxes on receipts required to be accounted for by Borrower to any Governmental Authority,
(2) refunds and uncollectible accounts, (3) proceeds from the sale of furniture, fixtures and equipment, (4) any proceeds resulting from any Liquidation Event, including, without 

  
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limitation, any Insurance or Condemnation Proceeds (other than business interruption or other loss of income insurance), (5) any disbursements to Borrower from any of the Reserve Funds,
(6) unforfeited Security Deposits, utility and other similar deposits, (7) non-recurring or extraordinary income, including, without limitation lease termination payments (provided that the pro rata
amounts of rental income for Leases where Tenants prepaid such rental obligations shall be included as provided in clause (A)(i) above), less (B) Operating Expenses for such period; provided, that in its calculation of Underwritten Net
Cash Flow and the components thereof, Lender may make adjustments in its reasonable discretion to take into account: 
 (a)
deferred expenses and to avoid double counting; 
 (b) a credit loss/vacancy allowance equal to actual trailing 12-month vacancy; 
 (c) without double counting of “management fees” included in
Operating Expenses, management fees equal to the greater of actual management fees and the Underwritten Management Fee; 

(d) anticipated increases to Taxes and Insurance Premiums; 

(e) deduction of normalized capital expenditures equal to $0.12 per rentable square foot at the Property per annum; 

(f) exclusion of rental income attributable to Tenants that are Affiliate of Borrower; 

(g) exclusion of any Excluded Tenant Insurance Revenue; 

(h) exclusion of rental income attributable to any Tenant that as of the date of calculation of Underwritten Net Cash Flow is
in default under its Lease beyond any applicable notice and cure periods; 
 (i) with respect to Tenants under Leases other
than for self-storage units, exclusion of rental income attributable to any such Tenant that (1) is in bankruptcy that has not affirmed its Lease in the applicable bankruptcy proceeding pursuant to a final,
non-appealable order of a court of competent jurisdiction, or (2) has terminated its Lease, or has expressed its intention (directly, constructively or otherwise) to not renew, terminate, cancel and/or
reject its Lease; and 
 (j) other adjustments based upon Lender and Rating Agency underwriting criteria. 

Lender’s calculation of Underwritten Net Cash Flow (including the determinations of items that do not qualify as Underwritten Net Cash Flow shall be
final absent manifest error. 
 “Updated Information” is defined in Section 13.3(B)(i).

 “U.S. Borrower” means any Borrower that is a U.S. Person. 

“U.S. Obligations” shall mean non-redeemable securities evidencing an
obligation to timely pay principal and/or interest in a full and timely manner that are (a) direct obligations of the United States of America for the payment of which its full faith and credit is pledged, or (b) in connection with or
following a rated Securitization, to the extent acceptable to the Rating Agencies, other “government securities” within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended. 

  
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 “U.S. Person” means any Person that is a “United States
Person” as defined in Section 7701(a)(30) of the IRC. 
 “U.S. Tax Compliance Certificate” is defined in
Section 2.10(D)(ii)(b)(3). 
 “Zoning Report” shall mean each “Zoning
Report” identified in the Information Schedule. 
 Section 1.2.    Accounting
Terms. For purposes of this Agreement, all accounting terms not otherwise defined herein shall have the meanings assigned to such terms in conformity with GAAP. 

Section 1.3.    Other Definitional Provisions for Loan Documents.
References to “Articles,” “Sections,” “Subsections,” “Exhibits” and “Schedules” shall be to Articles, Sections, Subsections, Exhibits and Schedules, respectively, of the Loan Document in which such
references appear, unless otherwise specifically provided. Any term defined in any Loan Document, unless the context otherwise requires, may be used in the singular or the plural depending on the reference. Whenever the context may reasonably
require, any words used in the Loan Documents that are expressed in any gender shall include the corresponding masculine, feminine or neuter forms. In each Loan Document, “hereof’ “herein” “hereto,”
“hereunder” and the like mean and refer to the entire text of the Loan Document in which the same appear, and not merely to the specific article, section, subsection, paragraph or clause where the same appear. References in any Loan
Document to “writing” include printing, typing, lithography, email and other means of reproducing words in a visible form; the words “including,” “includes” and “include” shall be deemed to be followed by the
words “without limitation”; and any reference to any statute or regulation may include any amendments of same and any successor statutes and regulations. Further, in any Loan Document, at Lender’s election, (i) any reference to
any agreement or other document may include subsequent amendments, assignments, and other modifications thereto, and (ii) any reference to any Person may include such Person’s respective permitted successors and assigns, and in the case of
governmental Persons, Persons succeeding to the relevant functions of such Persons; and (iii) the word “Property” shall include any portion of the Property (including any Individual Property or any portion of any Individual Property)
and any interest therein. References to any number of “days” in the Loan Documents shall refer to calendar days, unless Business Days are expressly specified. 

ARTICLE II 
 AMOUNTS AND
TERMS OF THE LOAN 
 Section 2.1.    The Loan. 

(A)    Loan. Subject to the terms and conditions of this Agreement and in reliance upon the
representations and warranties of Borrower contained herein, Lender agrees to lend to Borrower, and Borrower agrees to borrow from Lender, a loan in the amount of the Loan Amount (such loan and the obligation of Borrower to repay the same together
with all interest and other amounts from time to time owing hereunder may be referred to as the “Loan”). 

(B)    Use of Proceeds. The proceeds of the Loan funded at Closing shall be used to (i) repay any
existing indebtedness of Borrower secured by any mortgage encumbering all or any part of the Property; (ii) pay the fees owing to Lender and all reasonable costs and expenses incurred by Lender, including the reasonable legal fees and expenses
of counsel to Lender, and the costs and expenses for title insurance, survey, recordation, and other expenses related to the Loan approved by Lender, which approval will not be unreasonably withheld; (iii) establish the Reserves required
hereunder and make the initial deposits therein, (iv) to pay certain costs associated with the merger of certain Affiliates of Borrower (which shall be deemed equity distributions by Borrower for such purpose), and (v) to pay such other
costs as are listed on the closing statement for the Loan approved by Lender, and to the extent of any proceeds remaining after clauses (i) through (v), for such lawful purpose as Borrower shall designate, provided such purpose does not violate
the terms of any Loan Documents. 

  
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 (C)    Note. Contemporaneously with execution and
delivery of this Agreement, Borrower shall execute and deliver to Lender: 
 (i)    that certain Promissory Note A-1 of even date herewith, in the stated principal amount of Ninety Million and No/100 Dollars ($90,000,000.00) executed by Borrower and payable to the order of KeyBank (as the same may hereafter be amended,
supplemented, restated, replaced, increased, extended or consolidated from time to time, the “Note A-1”); and 

(ii)    that certain Promissory Note A-2 of even date herewith, in the stated
principal amount of Ninety Million and No/100 Dollars ($90,000,000.00) executed by Borrower and payable to the order of Citi (as the same may hereafter be amended, supplemented, restated, replaced, increased, extended or consolidated from time to
time, the “Note A-2”) 
 Note A-1 and Note A-2 may be referred to, together with any additional or replacement promissory notes executed and delivered by Borrower to Lender in accordance with this Agreement, either individually or collectively, as the
context may require, as the “Note”. 
 (D)    Security for the Mortgage
Loan. Without limitation, the Note and Borrower’s obligations hereunder and under the other Loan Documents (other than the Environmental Indemnity) shall be secured by the Security Instrument. 

Section 2.2.    Interest. 

(A)    Rate of Interest. Interest on the outstanding principal balance of the Loan shall accrue
interest at the Interest Rate applicable to each Component of the Loan. Except as herein provided with respect to interest accruing at the Default Rate, subject to Section 2.2(C), interest on each Component outstanding from
time to time, subject to Section 2.2(D), shall accrue at the Floating Interest Rate from (and including) the Closing Date until (and including) the Maturity Date. The Floating Interest Rate applicable to an Interest Period
shall be determined by Lender as set forth herein; provided, however, that LIBOR for the Interest Period commencing on the Closing Date through and including February 14, 2019 shall be 2.519%. Borrower shall pay to Lender on each Payment
Date the interest accrued on the outstanding principal balance of the Loan for the related Interest Period. 

(B)    Computation of Interest. Interest on the outstanding principal balance of each Component of the
Loan shall be calculated by multiplying (a) the actual number of days elapsed in the relevant Interest Period for which such calculation is being made by (b) a daily rate based on the Interest Rate applicable to such Component and a three
hundred sixty (360) day year by (c) the outstanding principal balance of such Component. The accrual period for calculating interest due on each Payment Date shall be the Interest Period in which such Payment Date occurs. 

(C)    Interest Laws. Notwithstanding any provision to the contrary contained herein or in the Note or
the other Loan Documents, Borrower shall not be required to pay, and Lender shall not be permitted to collect, any amount of interest in excess of the maximum amount of interest permitted by law (the “Excess Interest”). If
any Excess Interest is provided for, whether in the Interest Rate, the Default Rate, through any contingency or event, or otherwise, or is determined by a court of competent jurisdiction to have been provided for herein or in the Note or in any of
the other Loan Documents, then in such event: (1) the provisions of this subsection shall govern and control; (2) Borrower shall not be obligated to pay 

  
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any Excess Interest; (3) any Excess Interest that Lender may have received hereunder shall be, at Lender’s option, to the fullest extent provided by applicable law: (a) applied as
a credit against either or both of the outstanding principal balance of the Loan or accrued and unpaid interest thereunder (not to exceed the maximum amount permitted by law), (b) refunded to the payor thereof, or (c) any combination of
the foregoing; (4) the Interest Rate provided for herein shall be automatically reduced to the maximum lawful rate allowed from time to time under applicable law (the “Maximum Rate”), and this Agreement, the Note and the
other Loan Documents shall be deemed to have been and shall be, reformed and modified to reflect such reduction; and (5) Borrower shall not have any action against Lender for any damages arising out of the payment or collection of any Excess
Interest except for such damages determined by a court of competent jurisdiction to have been caused by the gross negligence or willful misconduct of the Lender. Notwithstanding the foregoing, if for any period of time interest on any Obligation is
calculated at the Maximum Rate rather than the applicable rate under the Note, and thereafter such applicable rate becomes less than the Maximum Rate, the rate of interest payable on such Obligations shall, to the extent permitted by law, remain at
the Maximum Rate until Lender shall have received or accrued the amount of interest which Lender would have received or accrued during such period on Obligations had the rate of interest not been limited to the Maximum Rate during such period. If
the Default Rate shall be finally determined to be unlawful, then the applicable Interest Rate shall be applicable during any time when the Default Rate would have been applicable hereunder, provided however that if the Maximum Rate is greater or
lesser than the applicable Interest Rate, then the foregoing provisions of this paragraph shall apply. 

(D)    Determination of Interest Rate. 

(i)    In the event that Lender shall have reasonably determined that by reason of circumstances affecting the interbank
Eurodollar market or otherwise LIBOR cannot be determined as provided in the definition of LIBOR as set forth herein and the Loan has not been converted to an Alternate Rate Loan in accordance with Section 2.2(D)(v) below,
then Lender shall forthwith give notice thereof by telephone of such fact, confirmed in writing, to Borrower at least one (1) Business Day prior to the next succeeding Determination Date. Subject to Section 2.2(D)(v)
below, if such notice is given, the Loan shall be converted, from and after the first day of the next succeeding Interest Period, to a Prime Rate Loan bearing interest based on the Prime Rate in effect on each applicable Determination Date. 

(ii)    If, pursuant to the terms of Section 2.2(D)(i) above, the Loan has been converted to a
Prime Rate Loan but thereafter: 
 (a)    LIBOR can again be determined as provided in the definition of LIBOR as set
forth herein, Lender shall give notice thereof to Borrower and convert the Prime Rate Loan back to a Floating Interest Rate Loan by delivering to Borrower notice of such conversion no later than 11:00 a.m. (New York City Time), one
(1) Business Day prior to the next succeeding Determination Date, and the Loan shall be converted to a Floating Interest Rate Loan, from, after and including the first day of the next succeeding Interest Period. 

(b)    Lender has determined in good faith that LIBOR has been succeeded by an Alternate Index and such Alternate Index
can be determined, then the Prime Rate Loan shall be converted to an Alternate Rate Loan, in accordance with, and subject to, the requirements set forth in Section 2.2(D)(v), provided for purposes of this
Section 2.2(D)(ii)(b), all references to “Floating Interest Rate Loan” in Section 2.2(D)(v) shall be deemed to refer to such converted Prime Rate Loan. 

(c)    Notwithstanding any provision of this Agreement to the contrary, in no event shall Borrower have the right to elect
to convert (i) a Floating Interest Rate Loan to a Prime Rate Loan or an Alternate Rate Loan, (ii) a Prime Rate Loan to a Floating Interest Rate Loan or an Alternate Rate Loan or (iii) an Alternate Rate Loan to a Floating Interest Rate
Loan or a Prime Rate Loan. 

  
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 (iii)    If, pursuant to the terms of
Section 2.2(D)(v) below, the Loan has been converted to an Alternate Rate Loan but thereafter Lender shall determine (which determination shall be conclusive and binding upon Borrower absent manifest error) that the
Alternate Index cannot be ascertained as provided in the definition thereof, then Lender shall forthwith give notice by telephone of such determination, confirmed in writing, to Borrower at least one (1) Business Day prior to the next
succeeding Determination Date. If such notice is given, the Alternate Rate Loan shall be converted, as of the first day of the next succeeding Interest Period, to a Prime Rate Loan. If following such conversion to a Prime Rate Loan, the Alternate
Index can again be determined, then Lender shall give notice thereof to Borrower and convert the Prime Rate Loan back to an Alternate Rate Loan by delivering to Borrower notice of such conversion no later than 11:00 a.m. (New York City Time),
one (1) Business Day prior to the next succeeding Determination Date, and the Prime Rate Loan shall be converted to an Alternate Rate Loan, from, after and including the first day of the next succeeding Interest Period. Notwithstanding any
provision of this Agreement to the contrary, in no event shall Borrower have the right to elect to convert an Alternate Rate Loan to a Prime Rate Loan. 

(iv)    If the adoption of any requirement of law or any change therein or in the interpretation or application thereof,
shall hereafter make it unlawful for Lender to make or maintain a Floating Interest Rate Loan as contemplated hereunder, (i) the obligation of Lender hereunder to make a Floating Interest Rate Loan or to convert a Prime Rate Loan to a Floating
Interest Rate Loan shall be canceled forthwith and (ii) any outstanding Floating Interest Rate Loan shall be converted automatically to a Prime Rate Loan on the first day of the next succeeding Interest Period or within such earlier period as
required by law. Borrower hereby agrees promptly to pay Lender, upon demand, any additional amounts necessary to compensate Lender for any actual costs incurred by Lender in making any conversion in accordance with this Agreement, including, without
limitation, any actual and documented interest or fees payable by Lender to lenders of funds obtained by it in order to make or maintain the Floating Interest Rate Loan hereunder. Lender’s notice of such costs, as certified to Borrower, shall
be conclusive absent manifest error. 
 (v)    If at any time the Loan is outstanding as a Floating Interest Rate Loan
and Lender has determined in good faith that LIBOR cannot be determined and LIBOR has been succeeded by an Alternate Index (an “Alternate Index Determination”), then the Loan shall be converted from a Floating Interest Rate
Loan to an Alternate Rate Loan, provided that, following any rated Securitization, such conversion shall be subject to Lender’s receipt of: A) a REMIC Opinion as to the compliance of such conversion with the REMIC Requirements, and
(B) a Rating Agency Confirmation in connection with such conversion (clauses (A) and (B), each an “Alternate Rate Condition”). Lender shall provide Borrower with written notice following the making of an Alternate
Index Determination and, if any rated Securitization has occurred, shall promptly request the Rating Agency Confirmation described in clause (B) immediately above in the manner prescribed by the servicing agreement with respect to the Loan.
Lender shall provide notice of (1) prior to any rated Securitization, the Alternate Index Determination and (2) following any rated Securitization and upon satisfaction of the Alternate Rate Condition, that the Alternate Rate Condition has
been satisfied by giving notice of such determination in writing to Borrower at least two (2) Business Days prior to the next succeeding Determination Date. If such notice is given, the Loan shall be converted, as of the first day of the next
succeeding Interest Period, to an Alternate Rate Loan in accordance with the terms and provisions hereof. Notwithstanding any provision of this Agreement to the contrary, in no event shall Borrower have the right to convert a Floating Interest Rate
Loan to an Alternate Rate Loan, or to convert an Alternate Rate Loan to a Floating Interest Rate Loan or a Prime Rate Loan. 

  
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 (E)    Breakage Indemnity. Borrower agrees to
indemnify Lender and to hold Lender harmless from any loss or expense which Lender actually sustains or incurs as a consequence of (i) any default by Borrower in payment of the principal of or interest on a Floating Interest Rate Loan,
including, without limitation, any such loss or expense arising from interest or fees payable by Lender to third-party lenders of funds obtained by it in order to maintain a Floating Interest Rate Loan hereunder, (ii) any prepayment (whether
voluntary or mandatory) of the Floating Interest Rate Loan on a day that (A) is not a Payment Date or (B) is a Payment Date if Borrower did not give the prior written notice of such prepayment required pursuant to the terms of this
Agreement, including, without limitation, such actual loss or expense arising from interest or fees payable by Lender to third-party lenders of funds obtained by it in order to maintain the Floating Interest Rate Loan hereunder and (iii) the
conversion pursuant to the terms hereof of the Floating Interest Rate Loan to the Prime Rate Loan or an Alternate Rate Loan on a date other than the Payment Date, including, without limitation, such actual loss or expenses arising from interest or
fees payable by Lender to third-party lenders of funds obtained by it in order to maintain a Floating Interest Rate Loan hereunder (the amounts referred to in clauses (i), (ii) and (iii) are herein referred to collectively as the
“Breakage Costs”); provided, however, Borrower shall not indemnify Lender from any loss or expense arising from Lender’s willful misconduct or gross negligence. This provision shall survive payment of the
Note in full and the satisfaction of all other obligations of Borrower under this Agreement and the other Loan Documents. 

Section 2.3.    Payments. 

(A)    Monthly Debt Service Payments. On the Closing Date, Borrower shall make a payment of interest
only on the outstanding principal balance of the Loan for the period commencing on and including the Closing Date through and including February 14, 2019. On March 9, 2019 and each subsequent Payment Date thereafter up to and including the
Maturity Date, Borrower shall pay to Lender the Monthly Debt Service Payment Amount. For purposes of making payments hereunder, but not for purposes of calculating Interest Periods, if the day on which such payment is due is not a Business Day, then
amounts due on such date shall be due on the immediately succeeding Business Day and with respect to payments of principal of the Loan due on the Maturity Date, interest shall be payable at the Interest Rate or the Default Rate, as the case may be,
through and including the last day of the related Interest Period. So long as no Event of Default exists, the Monthly Debt Service Payment Amount will be applied pro rata and pari passu between Note A-1 and
Note A-2 and, if the Loan has been divided into two or more Components, so long as no Event of Default exists, each Monthly Debt Service Payment Amount shall be applied among the Components in the order of
priority specified in the related Componentization Notice with respect to such Components. During the continuance of an Event of Default, Lender may apply the Monthly Debt Service Payment Amount to the Note and among the Components in any order or
priority that Lender shall determine in its sole and absolute discretion. 
 (B)    Date and Time of
Payment. Borrower shall receive credit for payments on the Loan which are transferred to the account of Lender as provided below (i) on the day that such funds are received by Lender if such receipt occurs by 3:00 p.m. (New York time)
on such day, or (ii) on the next succeeding Business Day after such funds are received by Lender if such receipt occurs after 3:00 p.m. (New York time). Whenever any payment to be made hereunder shall be stated to be due on a day that is not a
Business Day, the payment may be made on the next succeeding Business Day. 
 (C)    Manner of
Payment. Borrower promises to pay all of the Obligations relating to the Loan as such amounts become due or are declared due pursuant to the terms of this Agreement. All payments by Borrower on the Loan or otherwise under the Loan Documents
shall be made without deduction, defense, set off or counterclaim and in immediately available funds in lawful money of the United States of America at such place or places, including such account or accounts, as Lender shall from time to time
designate. 

  
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 (D)    Change of Payment Date and Interest Period.
Lender shall have the right, to be exercised not more than twice during the term of the Loan, by not less than thirty (30) days’ written notice to Borrower, to change the Payment Date for each month thereafter. The amount of interest (or
principal and interest) due on each Payment Date as so rescheduled shall be the same as the amount of interest (or principal and interest) that shall have been due on each Payment Date as originally scheduled, except that for the month in which the
first rescheduled Payment Date occurs, the payment due shall be adjusted to reflect the accrual of interest over the actual number of days elapsed from and including the prior Payment Date to the first rescheduled Payment Date. If the Payment Date
is changed in accordance with the foregoing, then (i) the period from the last Payment Date which occurs as originally scheduled to the first rescheduled Payment Date shall constitute an Interest Period, and (ii) thereafter, an Interest
Period shall begin on each rescheduled Payment Date and end on the day prior to the rescheduled Payment Date in the following calendar month, and (iii) at Lender’s option, the Maturity Date shall be changed within the same month as
originally scheduled, to the day having the same numerical date as the rescheduled Payment Date in the preceding month. 

Section 2.4.    Maturity Date; Extensions. 

(A)    Borrower’s Extension Rights. Borrower shall have two consecutive options (each an
“Extension Option”) to extend the scheduled Maturity Date for one year each (each twelve month period, referred to herein as an “Extension Period”), to the First Extended Maturity Date or Second
Extended Maturity Date, as applicable. Each such Extension Option shall be exercised, if at all, only by Borrower’s delivering to Lender written notice duly executed by Borrower, stating that Borrower thereby exercises its option to extend the
scheduled Maturity Date, which notice shall be received by Lender at least sixty (60) (but not more than ninety (90)) days prior to, as applicable, the Stated Maturity Date (with respect to the exercise of the first Extension Option) or the First
Extended Maturity Date (with respect to the exercise of the second Extension Option). A separate written notice and Extension Fee (paid on or prior to the commencement of the Extension Period) shall be required for the exercise of each of the
Extension Options. In addition to timely notice, the following shall be conditions to Borrower’s right to exercise each and every Extension Option: 

(i)    No Event of Default shall exist at the time when the extension notice is received by Lender, nor at any time
thereafter through and including the Stated Maturity Date or the First Extended Maturity Date, as applicable; 

(ii)    In the case of: (x) the extension of the scheduled Maturity Date to the First Extended Maturity Date, the
Debt Yield as reasonably determined by Lender as of the Stated Maturity Date, shall be not less than seven and one-half percent (7.5%) and (y) the extension of the scheduled Maturity Date from First
Extended Maturity Date to the Second Extended Maturity Date, the Debt Yield as reasonably determined by Lender as of the First Extended Maturity Date, shall be not less than eight percent (8.0%); 

(iii)    Borrower shall pay to Lender the Extension Fee on or before the commencement of the applicable Extension Period;

 (iv)    Borrower shall obtain and deliver to Lender on the first day of each Extension Period, one or more Interest
Rate Cap Agreements, which shall be an Interest Rate Cap Agreement from an Acceptable Counterparty in a notional amount equal to the then outstanding principal balance of the Loan, which Interest Rate Cap Agreement shall have a Strike Price equal to
the Extension Strike Price and be effective commencing not later than the first date of such Extension Term and shall have a maturity date not earlier than the First Extended Maturity Date or the Second Extended Maturity Date, as applicable,
together with a new Assignment of Cap (which shall be consented to by the Acceptable Counterparty); 

  
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 (v)    The second Extension Option to extend the scheduled Maturity
Date to the Second Extended Maturity Date may not and shall not be exercisable or validly exercised unless the schedule Maturity Date shall have been extended to the first Extended Maturity Date; 

(vi)    If the Mezzanine Loan is then outstanding, Mezzanine Borrower shall have exercised the applicable extension option
to extend the Mezzanine Loan in accordance with the Mezzanine Loan Documents and the term of the Mezzanine Loan shall have been extended in accordance therewith; 

(vii)    Borrower shall have reimbursed Lender for all reasonable out-of-pocket costs and expenses (including reasonable attorney’s fees) incurred by Lender in connection with the requested extension; and 

(viii)    Borrower shall promptly provide such evidence of satisfaction of the conditions to such extension as Lender may
reasonably require. 
 If Borrower does not satisfy the Debt Yield condition set forth in clause (ii) above with respect to any
Extension Option, then Borrower shall be deemed to have satisfied such condition if Borrower makes a prepayment of the Loan in accordance with Section 2.8(A) (together with any prepayment made by Mezzanine Lender of the
Mezzanine Loan in accordance with the Mezzanine Loan Agreement, provided that no prepayment of the Mezzanine Loan may be made without a contemporaneous pro rata prepayment of the Loan) before the first day of the applicable Extension Period in the
aggregate amount equal to or greater than the amount that is required to increase the Debt Yield to the minimum Debt Yield required pursuant to clause (ii) above. 

If the Extension Option shall be validly exercised, but the extension shall not occur because any condition shall not be satisfied, then the
Extension Fee shall be returned to Borrower so long as no Event of Default exists. Regardless of whether the extension conditions are satisfied, Borrower shall reimburse Lender for all reasonable out-of-pocket costs and expenses (including reasonable attorney’s fees) incurred by Lender in connection with the requested extension. 

(B)    Obligation to Repay on Maturity Date. To the extent not sooner due and payable in accordance
with the Loan Documents, the then outstanding principal balance of the Loan, all accrued and unpaid interest thereon, and all other sums then owing to Lender pursuant to the Loan Documents, shall be due and payable on the Maturity Date. 

Section 2.5.    Default Rate. Notwithstanding the foregoing, after the occurrence
of an Event of Default and for so long as such Event of Default continues and in any event from and after the maturity of the Loan, the Loan and all other Obligations shall bear interest until paid in full at a rate per annum that is (i) with
respect to each Component, four percentage points (4.0%) in excess of the Interest Rate otherwise applicable to such Component and (ii) with respect to any other Obligations, four percentage points (4.0%) above the combined weighted average of
the Interest Rates applicable to each of the Components, weighted on the basis of the corresponding outstanding principal balances of such Components (the “Default Rate”). Application of the Default Rate shall not be deemed
to constitute a waiver of any Event of Default or any rights or remedies of Lender under this Agreement, any other Loan Document or applicable legal requirements, or a consent to any extension of time for the payment or performance of any obligation
with respect to which the Default Rate may be invoked. 

  
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 Section 2.6.    Late Charges. If
any payment of principal, interest or other sums due hereunder or under any of the other Loan Documents (other than the principal due on the Maturity Date) is not paid as and when due, Borrower shall pay to Lender, in addition to all sums otherwise
due and payable, a late fee in an amount equal to the lesser of four percent (4.0%) of such principal, interest or other sums due hereunder and the maximum amount permitted by applicable law. 

Section 2.7.    Interest Rate Cap Agreement. 

(A)    Prior to or contemporaneously with the Closing Date, Borrower shall enter into an Interest Rate Cap Agreement
with a strike price no greater than the Strike Price. The Interest Rate Cap Agreement (i) shall at all times be in a form and substance reasonably acceptable to Lender with respect to such matters not otherwise set forth in this Agreement,
(ii) shall at all times be with an Acceptable Counterparty, (iii) shall direct such Acceptable Counterparty to deposit directly into the Clearing Account designated by Lender from time to time, during the continuance of an Event of
Default, as directed by Lender, any amounts due Borrower under such Interest Rate Cap Agreement, (iv) shall be for a term through the end of the Interest Period associated with the then-applicable Maturity Date of the Loan and (v) shall at
all times have a notional amount equal to or greater than the then outstanding principal balance of the Loan and shall at all times provide for the applicable Strike Price. Borrower shall collaterally assign to Lender, pursuant to the Assignment of
Cap, all of its right, title and interest to receive any and all payments under the Interest Rate Cap Agreement, and shall deliver to Lender an executed counterpart of such Interest Rate Cap Agreement (which shall, by its terms, authorize the
assignment to Lender and require that payments be deposited directly into the Clearing Account designated by Lender from time to time or such other account as Lender shall direct). 

(B)    Borrower shall comply with all of its obligations under the terms and provisions of the Interest Rate Cap
Agreement. All amounts paid by the Acceptable Counterparty under the Interest Rate Cap Agreement to Borrower or Lender shall be directly deposited immediately into the Clearing Account designated by Lender from time to time, or upon the occurrence
and during the continuance of an Event of Default, as directed by Lender. Borrower shall take all commercially reasonable actions requested by Lender to enforce Lender’s rights under the Interest Rate Cap Agreement in the event of a default by
the Acceptable Counterparty and shall not waive, amend or otherwise modify any of Borrower’s rights thereunder. 

(C)    In the event of any downgrade, withdrawal or qualification of the rating of the Acceptable Counterparty by
any Rating Agency such that it is no longer an Acceptable Counterparty, Borrower shall replace or cause the cap provider to replace the Interest Rate Cap Agreement with a Replacement Interest Rate Cap Agreement not later than the period of time
provided for in such Interest Rate Cap Agreement following such downgrade, withdrawal or qualification (not to exceed ten (10) Business Days), provided, Borrower shall not be required to replace the Interest Rate Cap Agreement with a
Replacement Interest Rate Cap Agreement so long as within ten (10) Business Days of such downgrade, withdrawal or qualification, the Acceptable Counterparty under the Interest Rate Cap Agreement provides a guarantor of its obligations that is
an Acceptable Counterparty pursuant to such terms as are acceptable to the Rating Agencies and Lender. 

(D)    Borrower shall deliver to Lender a new Assignment of Cap acceptable to Lender in connection with each new
Interest Rate Cap Agreement and Replacement Interest Rate Cap Agreement (the parties agree that the form of the Assignment of Cap provided in connection with the closing of the Loan shall be deemed acceptable to Lender). In the event that Borrower
fails to purchase and deliver to Lender the Interest Rate Cap Agreement or fails to maintain the Interest Rate Cap Agreement in accordance with the terms and provisions of this Agreement, Lender may purchase the Interest Rate Cap Agreement and the
cost actually incurred by Lender in purchasing such Interest Rate Cap Agreement shall be paid by Borrower to Lender with interest thereon at the Default Rate from the date such cost was incurred by Lender until such cost is reimbursed by Borrower to
Lender. 

  
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 (E)    In connection with the Interest Rate Cap Agreement,
Borrower shall obtain and deliver to Lender within twenty (20) Business Days following (x) the date upon which an Interest Rate Cap Agreement is required pursuant to Section 2.7(A) or (y) the first day of any
applicable Extension Term, as applicable, an opinion from counsel (which counsel may be in-house counsel for the Acceptable Counterparty) for the Acceptable Counterparty (upon which Lender and its successors
and assigns may rely) which shall provide, in relevant part, that: 
 (i)    the Acceptable Counterparty is duly
organized, validly existing, and in good standing under the laws of its jurisdiction of incorporation or formation and has the organizational power and authority to execute and deliver, and to perform its obligations under, the Interest Rate Cap
Agreement; 
 (ii)    the execution and delivery of the Interest Rate Cap Agreement by the Acceptable Counterparty, and
any other agreement which the Acceptable Counterparty has executed and delivered pursuant thereto, and the performance of its obligations thereunder have been and remain duly authorized by all necessary action and do not contravene any provision of
its certificate of incorporation or by-laws (or equivalent organizational documents) or any law, regulation or contractual restriction binding on or affecting it or its property; 

(iii)    all consents, authorizations and approvals required for the execution and delivery by the Acceptable Counterparty
of the Interest Rate Cap Agreement, and any other agreement which the Acceptable Counterparty has executed and delivered pursuant thereto, and the performance of its obligations thereunder have been obtained and remain in full force and effect, all
conditions thereof have been duly complied with, and no other action by, and no notice to or filing with any governmental authority or regulatory body is required for such execution, delivery or performance; and 

(iv)    the Interest Rate Cap Agreement, and any other agreement which the Acceptable Counterparty has executed and
delivered pursuant thereto, has been duly executed and delivered by the Acceptable Counterparty and constitutes the legal, valid and binding obligation of the Acceptable Counterparty, enforceable against the Acceptable Counterparty in accordance
with its terms, subject to applicable bankruptcy, insolvency and similar laws affecting creditors’ rights generally, and subject, as to enforceability, to general principles of equity (regardless of whether enforcement is sought in a proceeding
in equity or at law). 
 (F)    Notwithstanding anything to the contrary contained in this
Section 2.7 or elsewhere in this Agreement, if, at any time, the Loan is converted from a Floating Interest Rate Loan to either a Prime Rate Loan or an Alternate Rate Loan or from a Prime Rate Loan to an Alternate Rate Loan
in accordance with Section 2.2(D) above (each, a “Rate Conversion”), then: 

(i)    within thirty (30) days after such Rate Conversion, Borrower shall either (A) enter into, make all
payments under, and satisfy all conditions precedent to the effectiveness of, a Substitute Interest Rate Cap Agreement (and in connection therewith, but not prior to Borrower taking all the actions described in this clause (i),
Borrower shall have the right to terminate any then-existing Interest Rate Cap Agreement) or (B) cause the then-existing Interest Rate Cap Agreement to be modified such that such then-existing Interest Rate Cap Agreement satisfies the
requirements of a Substitute Interest Rate Cap Agreement as set forth below in the definition thereof (a “Converted Interest Rate Cap Agreement”); and 

  
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 (ii) on or after such Rate Conversion (provided Lender has not converted the Loan back to a
Floating Interest Rate Loan in accordance with Section 2.2(D) hereof), in lieu of satisfying the condition described in Section 2.4(A)(iv) with respect to any outstanding Extension Term, Borrower
shall instead enter into, make all payments under, and satisfy all conditions precedent to the effectiveness of a Substitute Interest Rate Cap Agreement on or prior to the first day of such Extension Term. 

(G) As used herein, “Substitute Interest Rate Cap Agreement” shall mean an interest rate Cap Agreement between
an Acceptable Counterparty and Borrower, obtained by Borrower and collaterally assigned to Lender pursuant to this Agreement and shall contain each of the following: 

(i) a term expiring no earlier than through the end of the Interest Period associated with the then applicable Maturity Date; 

(ii) the notional amount of the Substitute Interest Rate Cap Agreement shall be equal to or greater than the then outstanding principal
balance of the Loan; 
 (iii) it provides that the only obligation of Borrower thereunder is the making of a single payment to the
Acceptable Counterparty thereunder upon the execution and delivery thereof; 
 (iv) it provides to Lender and Borrower (as determined by
Lender in its sole but good faith discretion) for the term of the Substitute Interest Rate Cap Agreement, a hedge against rising interest rates that is no less beneficial to Borrower and Lender than (A) in the case of clause (F)(i)
above, that which was provided by the Interest Rate Cap Agreement being replaced by the Substitute Interest Rate Cap Agreement and (B) in the case of clause (F)(ii) above, that which was intended to be provided by the Interest Rate Cap
Agreement that, but for the operation of this Section 2.7(G), would have been required to have been delivered by Approved Counterparty pursuant to Section 2.4(A)(iv) below as a condition to the
requested Extension Term; and 
 (v) without limiting any of the provisions of the preceding clauses (i) through (iv)
above, it satisfies all of the requirements set forth in clauses (i) through (iii) of Section 2.7(A) hereof. 

From and after the date of any Rate Conversion, all references to “Interest Rate Cap Agreement” and “Replacement Interest Rate Cap
Agreement” herein (other than in the definition of “Interest Rate Cap Agreement”, the definition of “Replacement Interest Rate Cap Agreement” and as referenced in the first sentence of
Section 2.7(A) hereof) shall be deemed to refer or relate, as applicable, to a Substitute Interest Rate Cap Agreement or a Converted Interest Rate Cap Agreement, as the case may be. 

Section 2.8. Prepayment. 

(A) Limitation on Prepayment and Voluntary Prepayment. Borrower shall have no right to prepay the Loan in whole or part at
any time, except as expressly set forth herein. Borrower shall have the right to prepay the Loan in whole or in part on any Business Day only if all of the following conditions shall be satisfied: 

(i) Borrower shall provide to Lender not less than thirty (30) and not more than ninety (90) days’ prior written
notice of such prepayment specifying the date on which such prepayment will occur (it being agreed that such notice may be revoked by Borrower at any time prior to such prepayment); 

  
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 (ii) any such prepayment shall include, and Borrower shall pay to Lender,
all interest then having accrued and remaining outstanding calculated at the Interest Rate for the applicable Component(s) being prepaid through and including the repayment date, together with an amount equal to the interest that would have accrued
at the Interest Rate for the applicable Component(s) being prepaid through the end of the Interest Period in which such prepayment occurs as if such prepayment had not occurred; 

(iii) Borrower shall pay all Breakage Costs (if any), and all other sums then due under the Note, this Agreement or the other
Loan Documents; 
 (iv) Borrower shall pay to Lender the Spread Maintenance Premium, if such prepayment is made prior to the
Spread Maintenance Date; and 
 (v) if such prepayment is made during the period commencing on the first calendar day
immediately following a Payment Date through and including the last day of the Interest Period ending in the calendar month in which such Payment Date occurs, Borrower also shall pay to Lender the amount of all interest that would have accrued on
the amount of principal being prepaid from the first day of the Interest Period immediately following the Interest Period in which the prepayment occurs (the “Succeeding Interest Period”) through and including the end of the
Succeeding Interest Period (the “Additional Interest”), calculated at (A) the Interest Rate for the applicable Component(s) being prepaid if such prepayment occurs on or after the Determination Date for the Succeeding
Interest Period or (B) if such prepayment occurs before the Determination Date for the Succeeding Interest Period, an interest rate (the “Assumed Note Rate”) equal to the sum of 0.25% plus the Interest Rate as determined
on the preceding Determination Date for the applicable Component(s) being prepaid), provided that if the Additional Interest was calculated based upon the Assumed Note Rate, upon determination of the Interest Rate on the Determination Date for the
Succeeding Interest Period, (x) if the Interest Rate for such Succeeding Interest Period is less than the Assumed Note Rate, Lender shall promptly refund to Borrower a portion of the Additional Interest paid, calculated at a rate equal to the
difference between the Assumed Note Rate and the Interest Rate for such Interest Period, or (y) if the Interest Rate is greater than the Assumed Note Rate, Borrower shall promptly (and in no event later than the ninth (9th) day of the following
month) pay Lender the amount of such additional Additional Interest calculated at a rate equal to the rate by which the Interest Rate exceeds the Assumed Note Rate. 

If, after giving notice of its intention to prepay, Borrower does not prepay the Loan in whole or in part in accordance herewith within thirty (30) days
of the date specified in such notice or Borrower revokes such notice of prepayment, then such notice shall lapse, and Borrower shall thereafter have the right to give another notice of its intention to prepay; provided, that Borrower shall pay
Lender all of the actual, reasonable costs and expenses incurred by Lender (including, without limitation, reasonable attorneys’ fees) as a result of such failure to prepay, and any Breakage Costs. No principal amount repaid may be re-borrowed. 
 (B) Spread Maintenance Prepayment Premium Due Generally. If any
prepayment of all or any portion of the Loan shall occur before the Spread Maintenance Date, whether such prepayment is voluntary, involuntary, on account of acceleration of the Loan (whether or not due to an Event of Default), or otherwise, then
Borrower shall pay the Spread Maintenance Premium to Lender (as and to the extent provided in this Agreement) together with such prepayment, in addition to all other amounts due and owing to Lender as provided under this Agreement. This provision
does not create any right to prepay the Loan in whole or part, whether or not the Spread Maintenance Premium is paid together therewith, at any time or in any circumstances where this Agreement does not expressly state that such a right exists. 

  
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 (C) Insurance and Condemnation Proceeds. To the extent that Lender
requires that any Insurance or Condemnation Proceeds be applied to the Loan in accordance with Section 6.2 hereof, such application shall be made in accordance with Section 2.8(A) hereof, provided
that (i) no notice of such prepayment shall be required of Borrower and (ii) no Spread Maintenance Premium will be due with respect to such prepayment so long as no Event of Default exists. 

(D) Prepayments After Default. If, during the continuance of an Event of Default, payment of all or any part of the
Obligations is tendered by Borrower and accepted by Lender or is otherwise recovered by Lender (including through application of any Reserve Funds), such tender or recovery shall be deemed to be a voluntary prepayment by Borrower and Borrower shall
pay, as part of the Obligations, all of the following: (i) all interest then having accrued and remaining outstanding calculated at the Default Rate for the applicable Component(s) being prepaid through and including such repayment date
together with an amount equal to the interest that would have accrued at the Interest Rate for the applicable Component(s) being prepaid through the end of the Interest Period in which such prepayment occurs as if such prepayment had not occurred;
(ii) the Additional Interest, if applicable, with respect to the amount prepaid; (iii) Breakage Costs, if any; and (iv) an amount equal to the Spread Maintenance Premium (if made before the Spread Maintenance Date). Notwithstanding
anything herein to the contrary, during the continuance of any Event of Default, any payment of principal, interest or other amounts from whatever source may be applied by Lender among the Note, Components and other Obligations in Lender’s sole
discretion. 
 (E) Application of Prepayments. Provided no Event of Default is continuing, any voluntary or mandatary
prepayment of principal (or portion thereof) shall be applied by Lender pro rata and pari passu between Note A-1 and Note A-2. If the Loan has been divided
into two or more Components, so long as no Event of Default exists, any voluntary or mandatory prepayment of principal (or portion thereof) shall be applied among the Components in the order of priority set forth in the Componentization Notice,
which applications among Components may result in “rate creep”. Notwithstanding anything herein to the contrary, during the continuance of any Event of Default, any payment of principal, interest or other amounts from whatever source may
be applied by Lender among the Note, Components and other Obligations in Lender’s sole discretion. 
 (F) Mezzanine
Loan. Notwithstanding anything to the contrary contained herein or in any of the other Loan Documents, in no event shall Borrower permit Mezzanine Borrower or any other Person to prepay (which shall include, without limitation, any
prepayment in connection with any acceleration of any Mezzanine Loan) the Mezzanine Loan, in whole or in part, unless there is a simultaneous pro rata prepayment of the Loan in accordance with the provisions of
Section 2.8(A). 
 Section 2.9. Outstanding Balance. The balance on
Lender’s books and records shall be presumptive evidence (absent manifest error) of the amounts owing to Lender by Borrower; provided that any failure to record any transaction affecting such balance or any error in so recording shall not limit
or otherwise affect Borrower’s obligation to pay the Obligations. 
 Section 2.10.
Taxes. 
 (A) Gross-Up. Any and all payments by or on
account of any obligation of Borrower hereunder or under any other Loan Documents shall be made free and clear of and without deduction or withholding for any and all Taxes. If Borrower shall be required by law to deduct or withhold any Taxes from
or in respect of any sum payable hereunder to any Co-Lender, then (i) if such Tax is an Indemnifiable Tax, the sum payable shall be increased as necessary so that after making all required deductions and
withholdings (including deductions and withholdings applicable to additional sums payable under this 

  
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Section 2.10), such Co-Lender receives an amount equal to the sum it would have received had no such deductions or withholdings
been made, (ii) Borrower shall make such deductions or withholdings, (iii) such Loan Party shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and
(iv) Borrower shall furnish to such Co-Lender the original copy of a receipt issued by such Governmental Authority (or upon notification by Borrower to such
Co-Lender that a receipt issued by such Governmental Authority is not available, such other evidence as is requested and is reasonably satisfactory to such Co-Lender)
evidencing payment thereof as soon as practicable, but in any event no more than ten (10) days after such payment is made. 
 (B)
Other Taxes. In addition, the Loan Parties hereby agree to timely pay any Other Taxes to the relevant Governmental Authority in accordance with applicable law. 

(C) Indemnification. The Loan Parties shall jointly and severally indemnify each
Co-Lender, within 10 days after demand therefor, for the full amount of any Indemnifiable Taxes payable or paid by such Co-Lender, or required to be withheld or deducted
from a payment to such Co-Lender and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnifiable Taxes or Other 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 Borrower by such Co-Lender shall be conclusive absent manifest error. As soon as practicable, but
in any event no more than ten (10) days after any payment of Indemnifiable Taxes or Other Taxes by any Loan Party to any Governmental Authority, such Loan Party shall deliver to each Co-Lender the
original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to such
Co-Lender. 
 (D) Tax Certificates. (i) Any
Co-Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Loan Document shall deliver to the Borrower, at the time or times reasonably requested by
the Borrower, such properly completed and executed documentation reasonably requested by the Borrower as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any
Co-Lender, if reasonably requested by the Borrower, shall deliver such other documentation prescribed by applicable Legal Requirements or reasonably requested by the Borrower as will enable the Borrower to
determine whether or not such Co-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 paragraphs (D)(ii)(a), (ii)(b) and (ii)(d) of this Section) shall not be required if in the Co-Lender’s
reasonable judgment such completion, execution or submission would subject such Co-Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Co-Lender. 
 (ii) Without limiting the generality of the foregoing, in the event that the Borrower is a
U.S. Borrower, 
  

	 	(a)	 any Co-Lender that is a U.S. Person shall deliver to the Borrower on or
about the date on which such Co-Lender becomes a Co-Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower), executed
copies of IRS Form W-9 certifying that such Co-Lender is exempt from U.S. federal backup withholding tax; 

 

	 	(b)	 any Foreign Co-Lender shall, to the extent it is legally entitled to do
so, deliver to the Borrower (in such number of copies as shall be requested by the recipient) on or about the date on which such Foreign 

  
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Co-Lender becomes a Co-Lender under this Agreement (and from time to time thereafter upon the reasonable request of
the Borrower), whichever of the following is applicable: 

 (1) in the case of a Foreign Co-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 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 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 Co-Lender claiming the benefits of the exemption for
portfolio interest under Section 881(c) of the IRC, (x) a certificate substantially in the form of Exhibit D-1 to the effect that such Foreign Co-Lender
is not a “bank” within the meaning of Section 881(c)(3)(A) of the IRC, a “10 percent shareholder” of the Borrower within the meaning of Section 871(h)(3)(B) of the IRC, or a “controlled foreign
corporation” related to the Borrower as described in Section 881(c)(3)(C) of the IRC (a “U.S. Tax Compliance Certificate”) and (y) executed copies of IRS Form W-8BEN or
IRS Form W-8BEN-E; or 
 (4) to the extent a Foreign
Co-Lender is not the beneficial owner, executed copies of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, IRS Form W-8BEN-E, a U.S. Tax Compliance Certificate substantially in the form of Exhibit D-2 or Exhibit D-3, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Foreign
Co-Lender is a partnership and one or more direct or indirect partners of such Foreign Co-Lender are claiming the portfolio interest exemption, such Foreign Co-Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit D-4 on behalf of each such direct and indirect partner; 

 

	 	(c)	 any Foreign Co-Lender shall, to the extent it is legally entitled to do
so, deliver to the Borrower (in such number of copies as shall be requested by the recipient) on or about the date on which such Foreign Co-Lender becomes a Co-Lender
under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower), executed copies of any other form prescribed by Applicable Legal Requirements 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 Legal Requirements to permit the Borrower to determine the withholding or deduction required to be made; and 

 

	 	(d)	 if a payment made to a Co-Lender under any Loan Document would be
subject to U.S. federal withholding Tax imposed by FATCA if such 

  
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Co-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
IRC, as applicable), such Co-Lender shall deliver to the Borrower at the time or times prescribed by law and at such time or times reasonably requested by the Borrower such documentation prescribed by
Applicable Legal Requirements (including as prescribed by Section 1471(b)(3)(C)(i) of the IRC) and such additional documentation reasonably requested by the Borrower as may be necessary for the Borrower to comply with their obligations under
FATCA and to determine that such Co-Lender has complied with such Co-Lender’s obligations under FATCA or to determine the amount, if any, to deduct and withhold
from such payment. Solely for purposes of this clause (d), “FATCA” shall include any amendments made to FATCA after the date of this Agreement. 

Each Co-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 the Borrower in writing of its legal inability to do so. 

(E) Treatment of Certain Refunds. 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 (including by the payment of additional amounts pursuant to this Section), 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 (E) (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 (E), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this paragraph (E) 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 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. 
 (F) Change in
Law. (i) If any Change in Law shall: 
 (a) 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 Co-Lender; 

(b) subject any Co-Lender to any Taxes (other than (1) Indemnifiable Taxes,
(2) Taxes described in clauses (b) through (d) of the definition of Excluded Taxes and (3) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other
liabilities or capital attributable thereto; or 

  
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 (c) impose on any Co-Lender or the
London interbank market any other condition, cost or expense (other than Taxes) affecting this Agreement or Loans made by such Co-Lender or participation therein; 

and the result of any of the foregoing shall be to increase the cost to such Co-Lender of making, continuing or
maintaining any Loan, or to reduce the amount of any sum received or receivable by such Co-Lender in connection with the Loan (whether of principal, interest or any other amount) then, upon request of such Co-Lender, the Borrower will pay to such Co-Lender such additional amount or amounts as will compensate such Co-Lender for such
additional costs incurred or reduction suffered as a consequence of this Agreement. 
 (ii) If any
Co-Lender determines that any Change in Law affecting such Co-Lender or any lending office of such Co-Lender or such Co-Lender’s holding company, if any, regarding capital or liquidity requirements, has or would have the effect of reducing the rate of return on such Co-Lender’s
capital or on the capital of such Co-Lender’s holding company, if any, as a consequence of this Agreement, to a level below that which such Co-Lender or such Co-Lender’s holding company could have achieved but for such Change in Law (taking into consideration such Co-Lender’s policies and the policies of such Co-Lender’s holding company with respect to capital adequacy), then from time to time the Borrower will pay to such Co-Lender, as the case may be, such additional amount
or amounts as will compensate such Co-Lender or such Co-Lender’s holding company for any such reduction suffered as a consequence of this Agreement. 

(iii) A certificate of a Co-Lender setting forth the amount or amounts necessary to compensate such Co-Lender or its holding company, as the case may be, as specified in paragraph (i) or (ii) of this Section and delivered to the Borrower, shall be conclusive absent manifest error. The Borrower shall pay
such Co-Lender, as the case may be, the amount shown as due on any such certificate within ten (10) days after receipt thereof. 

(iv) Failure or delay on the part of any Co-Lender to demand compensation pursuant to this Section
shall not constitute a waiver of such Co-Lender’s right to demand such compensation; provided that the Borrower shall not be required to compensate a Co-Lender
pursuant to this Section for any increased costs incurred or reductions suffered more than nine months prior to the date that such Co-Lender, as the case may be, notifies the Borrower of the Change in Law
giving rise to such increased costs or reductions, and of such Co-Lender’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is
retroactive, then the nine-month period referred to above shall be extended to include the period of retroactive effect thereof), and a Co-Lender shall not require any such compensation from Borrower hereunder
unless Lender is requiring same from similar situated fixed rate commercial real estate borrowers. 
 (G) Survival. Each
party’s obligations under this Section shall survive any assignment of rights by, or the replacement of, any Co-Lender, the payment of the Loan, the release of any Security Instrument and the Liens
created under the Loan Documents and the termination of this Agreement. 
 Section 2.11. Funding of the Loan
on the Closing Date; Effectiveness of Agreement. This Agreement shall be effective only upon the funding of the Loan by Lender on the Closing Date. 

Section 2.12. Reasonableness of Charges. Borrower agrees that (i) the actual costs and damages
that Lender would suffer by reason of an Event of Default (exclusive of the attorneys’ fees and other costs incurred in connection with enforcement of Lender’s rights under the Loan Documents) or a prepayment would be difficult and
needlessly expensive to calculate and establish, and (ii) the amounts of the Default Rate, the late charges, and the Spread Maintenance Premium are reasonable, taking into consideration the circumstances known to the parties at this time, and
(iii) such Default Rate, late charges, 

  
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Spread Maintenance Premium and Lender’s attorneys’ fees and other costs and expenses actually incurred in connection with enforcement of Lender’s rights under the Loan Documents
shall be due and payable as provided herein, and (iv) such Default Rate, late charges, Spread Maintenance Premium, and the obligation to pay Lender’s attorneys’ fees and other enforcement costs do not, individually or collectively,
constitute a penalty. 
 Section 2.13. Release of Individual Properties. Subject to satisfaction of
each of the conditions set forth below with respect to any Individual Property (the “Release Conditions”), Lender shall, upon request from Borrower, release such Individual Property (each a “Release
Property”) from the Lien of the applicable Security Instrument and related Loan Documents (each release under this Section 2.13, a “Property Release”): 

(A) Borrower shall deliver a written notice (a “Property Release Notice”) to Lender of its desire to effect such
Property Release no later than thirty (30) days prior to the date of such desired Property Release, and setting forth the Business Day (the “Release Date”) on which Borrower desires that Lender release its interest in
such Release Property, which Business Day need not be a Monthly Payment Date; 
 (B) no Event of Default has occurred and is
continuing on the date on which Borrower delivers the Property Release Notice or on the Release Date; 
 (C) Borrower prepays the Loan
in the amount of the applicable Release Amount and pays to Lender all other amounts required pursuant to Section 2.8(A); 

(D) after giving effect to such Property Release (and all prior Property Releases, if any), (i) the Debt Yield, as of the Release Date
for all of the Individual Properties then remaining subject to the Liens of the Security Interests, shall not be less than the greater of (a) the “Closing Date Debt Yield” identified in the Information Schedule and (b) the Debt
Yield immediately prior to such Property Release; 
 (E) the Release Property is simultaneously transferred pursuant to an all-cash (as to Borrower) sale on arms-length terms and conditions to either (i) a third party Person that is not an Affiliate of Borrower or Guarantor or (ii) to an Affiliate of Borrower or Guarantor;

 (F)Borrower executes and delivers such other instruments, certificates, opinions of counsel and documentation as Lender and, after
a Securitization, the Rating Agencies shall reasonably request in writing in order to preserve, confirm or secure the Liens and security granted to Lender by the Loan Documents, including any amendments, modifications or supplements to any of the
Loan Documents, and, if the applicable Title Policy includes one or more Individual Properties other than the Release Property, any endorsements to the applicable Title Policy reasonably required by Lender that are customary for property releases in
the state in which the Release Property is located; 
 (G) following such Property Release, each remaining Individual Borrower shall
continue to be a SPE Bankruptcy Remote Entity and comply with all provisions of the Loan Documents pertaining to a SPE Bankruptcy Remote Entity in all material respects, taking into account such Property Release, and Borrower shall have delivered to
Lender an Additional Insolvency Opinion upon written request of Lender if Lender reasonably determines that such Property Release results in a change in the required “pairings” analyzed in the Insolvency Opinion delivered in connection
with the Loan; 
 (H) If such Release Property is managed under the Management Agreement that also pertains to any other Individual
Property, Borrower shall (i) to the extent required under any Management 

  
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Agreement, enter into an acknowledgement of such Property Release with the applicable Property Manager, in form and substance reasonably satisfactory to Lender, in order to cause such Release
Property to be removed from the such Management Agreement, and Borrower shall pay all amounts and satisfy all other conditions under such Management Agreement to effect such removal, and (ii) deliver to Lender a written confirmation from the
applicable Property Manager, in form and substance reasonably satisfactory to Lender, that all such amounts have been paid or provided for and all such other conditions have been satisfied; 

(I) in connection with any Property Release under this Section 2.13, in the event that such release would
result in the release of all Individual Properties held by an Individual Borrower (each an “Unencumbered Borrower”), (i) such Unencumbered Borrower shall be released by Lender from the obligations of the Loan Documents,
except with respect to those obligations that are expressly provided herein to survive repayment of the Loan, and (ii) Borrower, Guarantor and Lender shall enter into such modifications and reaffirmations of the Loan Documents as may be
reasonably required by Lender to evidence the release of each Unencumbered Borrower from its obligations under the Loan Documents and reaffirmation thereof by the remaining Individual Borrowers and Guarantor; 

(J) if the Individual Borrower that has executed the Interest Rate Cap Agreement or any Replacement Interest Rate Cap Agreement is the
Unencumbered Borrower, such Unencumbered Borrower shall have assigned all of its right title and interest in and to the Interest Rate Cap Agreement or Replacement Interest Rate Cap Agreement to another Individual Borrower that owns one or more
Individual Properties that will remain subject to the Liens of the Security Instruments after such Property Release (such Individual Borrower, the “Assigned Individual Borrower”). In connection with (and as a condition
precedent to) such assignment, Borrower shall amend the existing Assignment of Cap (and, if applicable, the Interest Rate Cap Agreement) or deliver to Lender a replacement Assignment of Cap (in each case, in form and substance reasonably acceptable
to Lender) and obtain the execution and delivery of the Counterparty to such amendment or replacement Assignment of Cap, which shall change the account to which payments under the Interest Rate Cap Agreement or Replacement Interest Rate Cap
Agreement are to be made by the Counterparty thereunder to the Clearing Account of the Assigned Individual Borrower; 
 (K) (i) such
Property Release shall be subject to Section 13.9, (ii) such Property Release shall otherwise be permitted under the REMIC Requirements in effect as of (A) the date on which the applicable Property Release Notice is
given and (B) the date on which such Property Release shall occur, and (iii) if required by Lender, Borrower shall deliver to Lender a REMIC Opinion with respect to such Property Release; 

(L) if the Mezzanine Loan is outstanding, concurrently with the consummation of the Property Release, Mezzanine Borrower shall have
consummated a Mezzanine Property Release with respect to such Release Property in accordance with the terms of the Mezzanine Loan Agreement and Borrower shall have delivered, or cause to be delivered, to Lender evidence thereof reasonably
satisfactory to Lender; and 
 (M) Borrower shall have paid (i) all reasonable out-of-pocket costs and expenses actually incurred by Lender and/or its Servicer in connection with such Property Release, (ii) all recording, transfer, filing fees, taxes and other third-party expenses
payable in connection with the Property Release, (iii) all costs and expenses of any Rating Agencies, and (iv) the current reasonable and customary fee being assessed by Lender and/or its Servicer to effect such Property Release. 

  
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 ARTICLE III 

CASH MANAGEMENT 

Section 3.1. Clearing Account. 

(A) Each Individual Borrower shall establish and maintain a segregated Eligible Account (each, a “Clearing
Account” and collectively, the “Clearing Accounts”) with the Clearing Bank in trust for the benefit of Lender, which Clearing Account shall be under the sole dominion and control of Lender. Each Clearing Account
shall be entitled in the name of each Individual Borrower, as pledgor, for the sole and exclusive benefit of Lender, as secured party, or such other name as reasonably required by Lender from time to time. Borrower (i) hereby grants to Lender a
first priority security interest in the Clearing Accounts and all deposits at any time contained therein and the proceeds thereof, and (ii) will take all actions necessary to maintain in favor of Lender a perfected first priority security
interest in the Clearing Accounts, including, without limitation, the execution of any account control agreements required by Lender. Borrower will not in any way alter, modify or close any Clearing Accounts and will notify Lender of the account
numbers thereof. All costs and expenses of the Clearing Bank for establishing and maintaining the Clearing Accounts shall be paid by Borrower. All monies now or hereafter deposited into the Clearing Accounts shall be deemed additional security for
the Obligations. 
 (B) Borrower shall, and shall cause Property Manager to, deposit into the applicable Clearing Account within three
(3) Business Days after receipt all amounts received by Borrower or Property Manager constituting Rents or other Receipts for each applicable Individual Property, including without limitation Borrower’s TIR Share of Tenant Insurance
Revenue, and, for the avoidance of doubt, Borrower shall not be obligated to, nor shall it be obligated to cause Property Manager to, deposit any Excluded Tenant Insurance Revenue into the Clearing Account. On or before the Closing Date, Borrower
shall have sent (and hereby represents that it has sent) notices (each such notice, a “Credit Card Direction Notice”) to each of the credit card companies or credit card clearing banks with which any Individual Borrower or Property Manager
has entered into merchant’s or other credit card agreements (any such agreement, a “Credit Card Agreement”) directing them to pay by wire transfer or the ACH System to the applicable Clearing Account all payments which would otherwise
be paid to such Individual Borrower or Property Manager under the applicable Credit Card Agreements until such time as the Obligations have been repaid in full in accordance with the terms hereof. Simultaneously with the execution of any Credit Card
Agreement entered into on or after the date hereof in accordance with the applicable terms and conditions hereof, Borrower shall furnish each credit card company or credit card clearing bank party to each such Credit Card Agreement a Credit Card
Direction Notice. The Clearing Account Agreement and Clearing Accounts shall remain in effect until the Loan has been repaid in full. 

(C) So long as no Cash Management Period exists, all available amounts on deposit in the Clearing Accounts shall be disbursed to the
applicable Individual Borrower in immediately available funds by Federal wire transfer once every Business Day. Upon the occurrence and during the continuance of any Cash Management Period, Borrower shall (and Lender may) cause the Clearing Bank to
transfer to the Cash Management Account in immediately available funds by Federal wire transfer all amounts on deposit in the Clearing Accounts once every Business Day. 

(D) Upon the occurrence and during the continuance of an Event of Default, Lender may, in addition to any and all other rights and
remedies available to Lender, direct Clearing Bank to immediately pay over all funds on deposit in the Clearing Accounts to Lender and to apply any such funds to the payment of the Obligations in any order in its sole discretion. 

  
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 (E) Funds deposited into the Clearing Accounts shall not be commingled with other
monies held by Borrower or Property Manager. 
 (F) Borrower shall not further pledge, assign or grant any security interest in any
Clearing Account or the monies deposited therein or permit any lien or encumbrance to attach thereto, or any levy to be made thereon, or any UCC-1 financing statements, except those naming Lender as the
secured party, to be filed with respect thereto. 
 (G) Borrower shall indemnify Lender and hold Lender harmless from and against any
and all actions, suits, claims, demands, liabilities, losses, damages, obligations and costs and expenses (including litigation costs and reasonable attorney’s fees and expenses) arising from or in any way connected with the Clearing Accounts,
the Clearing Account Agreement or the performance of the obligations for which the Clearing Accounts were established (unless arising from the gross negligence or willful misconduct of Lender). 

Section 3.2. Cash Management Accounts. 

(A) Cash Management Account. Not later than ten (10) Business Days following delivery by Lender of written notice to
Borrower indicating that a Cash Management Period exists, Lender shall establish and maintain a segregated Eligible Account (the “Cash Management Account”) with the Deposit Bank in trust for the benefit of Lender, which Cash
Management Account shall be for the sole and exclusive benefit of and under the sole dominion and control of Lender. The Cash Management Account shall be entitled in the name of Borrower, as pledgor, for the sole and exclusive benefit of Lender, as
secured party, or such other name as required by Lender from time to time. Lender will also establish subaccounts of the Cash Management Account which shall at all times be Eligible Accounts (and may be ledger or book entry accounts and not actual
accounts) (such subaccounts are referred to herein as “Subaccounts”). Borrower (i) hereby grants to Lender a first priority security interest in the Cash Management Account and the Subaccounts and all deposits at any
time contained therein and the proceeds thereof, and (ii) will take all actions necessary to maintain in favor of Lender a perfected first priority security interest in the Cash Management Account and the Subaccounts, including, without
limitation, the execution of any account control agreement required by Lender. Borrower will not in any way alter, modify or close the Cash Management Account and will notify Lender of the account number thereof. Lender and Servicer shall have the
sole right to make withdrawals from the Cash Management Account and the Subaccounts in accordance with this Agreement and the Cash Management Agreement. All costs and expenses of the Deposit Bank for establishing and maintaining the Cash Management
Account and the Subaccounts shall be paid by Borrower. All monies now or hereafter deposited into the Cash Management Account and the Subaccounts shall be deemed additional security for the Obligations. 

(B) Provided no Event of Default shall have occurred and be continuing and subject to Section 3.2(D), after
the occurrence and during the continuance of a Cash Management Period, on each Payment Date (or, if such Payment Date is not a Business Day, on the immediately succeeding Business Day) all funds on deposit in the Cash Management Account shall be
applied by Lender (or by Deposit Bank at Lender’s direction) to the payment of the following items in the order indicated: 
 (i)
First, payment to Lender (for deposit in the Taxes and Insurance Reserve) in respect of the applicable amount required to be deposited in the Taxes and Insurance Reserve in accordance with the terms and conditions of
Section 8.1 hereof; 
 (ii) Second, to the extent the Cash Management Account contains any Excluded Tenant
Insurance Revenue (notwithstanding the first sentence of Section 3.1.(B)), payment to Borrower in 

  
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an amount equal to the Excluded Tenant Insurance Revenue then contained in the Cash Management Account (each such disbursement for Excluded Tenant Insurance Revenue under this
Section 3.2, an “Excluded TIR Disbursement”), subject to satisfaction of the following conditions to disbursement (the “TIR Disbursement Conditions”): Borrower certifies in
writing to Lender, not less than two (2) Business Days prior to each such Excluded TIR Disbursement, (i) the amount of the Excluded TIR Disbursement, the Excluded Tenant Insurance Revenue and Tenant Protection Plan Net Revenue for the
applicable Individual Properties to which such Excluded TIR Disbursement relates, (ii) that the Excluded Tenant Insurance Revenue to which the Excluded TIR Disbursement relates has been deposited into the Cash Management Account, and the
Excluded TIR Disbursement does not include amounts previously paid or disbursed on account of Excluded Tenant Insurance Revenue, and (iii) that the calculations of the Excluded TIR Disbursement, Excluded Tenant Insurance Revenue and Tenant
Protection Plan Revenue are true and correct in all material respects; 
 (iii) Third, payment to Deposit Bank of the fees and expenses of
Deposit Bank then due and payable pursuant to the Cash Management Agreement; 
 (iv) Fourth, payment to Lender of the Monthly Debt Service
Payment Amount due on such Payment Date; 
 (v) Fifth, payment to Lender (for deposit in the Replacement Reserve) in respect of the
applicable amount required to be deposited in the Replacement Reserve, if any, in accordance with the terms and conditions of Section 8.2 hereof; 

(vi) Sixth, payment to Borrower in an amount equal to the aggregate of (A) operating expenses due and payable by Borrower during the
succeeding month as set forth in all material respects in the Approved Annual Budget (it being agreed that any deviation in such operating expenses from the line items in the Approved Annual Budget that are within ten (10%) of such line items and
less than eight percent (8%) in the aggregate of all budgeted items shall be deemed to be immaterial), and (B) Approved Extraordinary Expenses, if any (provided that monthly disbursements for Management Fees shall be limited to the monthly
Underwritten Management Fees based on Gross Income from Operations for the preceding month as demonstrated to Lender’s reasonable satisfaction); 

(vii) Seventh, payment to Lender of any other amounts then due and owing under the Loan Documents; 

(viii) Eighth, so long as the Mezzanine Loan remains outstanding, funds sufficient to pay the Mezzanine Monthly Debt Service Payment Amount
shall be deposited in the Mezzanine Account; and 
 (ix) Ninth, payment of all amounts then remaining after payment of items
(i) through (viii) (all amounts then remaining after payment of items (i) through (viii) being hereinafter referred to as “Excess Cash”) to the Excess Cash Reserve Account in accordance with the terms and
conditions of Section 8.6 hereof; and 
 (x) Lastly, if no Cash Management Period is then continuing, all Excess
Cash to Borrower. 
 Notwithstanding anything to the contrary contained herein or in any other Loan Documents, and with respect to the
timing of the payment of any Excluded TIR Disbursements, during a Cash Management Period but regardless of whether an Event of Default exists, upon written request by Borrower, funds on 

  
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deposit in the Cash Management Account shall be disbursed by Lender (or by Deposit Bank at Lender’s direction) to Borrower for Excluded TIR Disbursements, subject to satisfaction of the TIR
Disbursement Conditions. 
 (C) The insufficiency of funds on deposit in the Cash Management Account shall not relieve Borrower of the
obligation to make any payments, as and when due pursuant to this Agreement and the other Loan Documents, and such obligations shall be separate and independent, and not conditioned on any event or circumstance whatsoever. 

(D) Notwithstanding this Section 3.2, following the occurrence of an Event of Default and during the
continuance thereof, all funds on deposit in the Cash Management Account may be applied by Lender in such order and priority as Lender shall determine in its sole discretion until the Obligations have been paid in full. 

(E) Borrower hereby agrees to reasonably cooperate with Lender with respect to any requested modifications to the Cash Management
Agreement for the purpose of establishing additional sub-accounts in connection with any payments otherwise required under this Agreement and the other Loan Documents. 

Section 3.3. Payments Received Under the Cash Management Agreement. Notwithstanding anything to the contrary
contained in this Agreement and the other Loan Documents, and provided no Event of Default has occurred and is continuing, Borrower’s obligations with respect to the payment of the Monthly Debt Service Payment Amount and amounts required to be
deposited into the Reserves shall be deemed satisfied to the extent sufficient amounts are deposited in the Cash Management Account to satisfy such obligations on the dates each such payment is required, regardless of whether any of such amounts are
so applied by Lender, so long as Lender’s access to such sums was not restricted or constrained in any manner. 

Section 3.4. Payments on Behalf of Borrower. The parties hereto acknowledge and agree that, as to any clause
or provision contained in this Section 3 or any other allocation, application or disbursement of cash or any other payments under this Agreement or the other Loan Documents or otherwise relating to payments made to
Mezzanine Lender or applied to the Mezzanine Loan, notwithstanding the fact that such payments may be sent directly from the Cash Management Account to any Mezzanine Account in accordance with Section 3.2 above, any such
payment shall be deemed to constitute a distribution by the applicable Individual Borrowers to the Mezzanine Borrower pursuant to and in accordance with the organizational documents of such Individual Borrowers, Mezzanine Borrower and applicable law
and simultaneous payment by the Mezzanine Borrower to the Mezzanine Lender. Any such payment is intended by the parties to constitute, and shall constitute, a distribution from the applicable Individual Borrowers to Mezzanine Borrower and shall be
treated as such on the books and records of each party. No such payment is intended or shall be construed as meaning that any Individual Borrower is acting on behalf of, holding out its credit for, or paying the obligations of, Mezzanine Borrower,
directly or in any other manner that would violate any of the single purpose entity covenants contained in this Agreement or other similar covenants contained in such Individual Borrower’s organizational documents or Mezzanine Borrower’s
organizational documents, respectively. 
 ARTICLE IV 

REPRESENTATIONS AND WARRANTIES 

To induce Lender to enter into this Agreement and to make the Loan to Borrower, Borrower hereby represents and warrants to Lender that the
statements set forth in this Article are true and correct as of the Closing, subject only to such exceptions and qualifications as are expressly set forth in this Article and in the Schedules attached hereto. 

  
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 Section 4.1. Organization, Powers, Capitalization, Good Standing, Business.

 (A) Organization, Powers. Each Individual Borrower and Guarantor is duly organized, validly existing and in good
standing under the laws of its state of organization. Each such entity has all requisite power and authority to own and operate its properties, to carry on its business as now conducted and proposed to be conducted, and to enter into each Loan
Document to which it is a party and to incur and perform its obligations thereunder. The organizational chart set forth as Schedule 4.1(A) (i) accurately discloses the ownership structures of Borrower and Guarantor
shown thereon and (ii) shows all Persons that (a) own ten percent (10%) or more of the direct or indirect ownership interests in Borrower, and (b) Control Borrower. 

(B) Qualification. Each Individual Borrower is duly qualified and in good standing in the state where its applicable
Individual Property is located. In addition, each Borrower Party is duly qualified and in good standing in each state where necessary to carry on its present business and operations. 

Section 4.2. Authorization of Borrowing, etc. 

(A) Authorization of Borrowing. Each Individual Borrower has the power and authority to incur the Indebtedness evidenced
by the Note. The execution, delivery and performance by each of Borrower and Guarantor of each of the Loan Documents to which it is a party and the consummation of the transactions contemplated thereby have been duly authorized by all necessary
partnership, limited liability company, trustee, corporate or other action, as the case may be. 
 (B) No Conflict. The
execution, delivery and performance by each Individual Borrower and Guarantor of the Loan Documents to which it is a party and the consummation of the transactions contemplated thereby do not and will not: (1) to Borrower’s knowledge,
violate any provision of law applicable to Borrower or Guarantor; (2) violate the partnership agreement, certificate of limited partnership, certificate of incorporation, bylaws, declaration of trust, certificate of organization, operating
agreement or other organizational documents, as the case may be, of any Individual Borrower or Guarantor; (3) violate any order, judgment or decree of any court or other agency of government binding on any Individual Borrower or Guarantor;
(4) to Borrower’s knowledge, conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a default under any Contractual Obligation of any Individual Borrower or Guarantor; (5) result in or require
the creation or imposition of any Lien (other than the Lien of the Loan Documents) upon the Property or the assets of any Individual Borrower or Guarantor; or (6) require any approval or consent of any Person, other than approvals or consents
which have been obtained. 
 (C) Governmental Consents. The execution, delivery and performance by each of Borrower and
Guarantor of the Loan Documents to which it is a party, and the consummation of the transactions contemplated thereby do not and will not require, to Borrower’s knowledge, any registration with, consent or approval of, or notice to, or other
action to, with or by, any federal, state or other governmental authority or regulatory body, except for the recording of the Security Instruments and filings and recordings required in connection with the creation or perfection of any other
security interests with respect to the Collateral granted under this Agreement or any of the other Loan Documents. 
 (D)
Binding Obligations; No Offset, Defense or Claims. This Agreement and the other Loan Documents constitute legally valid and binding obligations of each of Borrower and Guarantor 

  
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having executed the same, enforceable against Borrower and Guarantor, as applicable, in accordance with their respective terms, subject to bankruptcy, insolvency, moratorium, reorganization and
other similar laws affecting creditor’s rights generally. Neither Borrower nor Guarantor has any defense, counterclaim, rescission, or offset to any of its obligations under the Loan Documents. Neither Borrower nor Guarantor has any claim
against Lender or any Affiliate of Lender. 
 Section 4.3.    Financial Information. 

(A)    Financial Statements. All financial data, including, without limitation, the financial
statements, balance sheets, statements of cash flow, and statements of income and operating expense concerning Borrower or Guarantor or the Property that have been furnished to Lender in connection with this transaction (i) have been or will be
prepared in accordance with GAAP (or in accordance with tax accounting principles, if therein specified), consistently applied (except as disclosed therein), (ii) are (or will be as to those statements that are not yet due) true, complete and
correct in all material respects and (iii) do (or will, as to those statements that are not yet due) present fairly and accurately the financial condition of the Persons covered thereby as at the dates thereof and the results of their
operations for the periods then ended. Since the date of the most recent financial statements of Borrower, Guarantor and the Property delivered to Lender, there has been no material adverse change in the financial condition, operations or business
of Borrower or Guarantor or the Property from that set forth in said financial statements. Borrower does not have any contingent liabilities, liabilities for taxes, unusual forward or long-term commitments or unrealized or anticipated losses from
any unfavorable commitments that are known to it and reasonably likely to have a Material Adverse Effect, except as referred to or reflected in said financial statements. 

(B)    Disclosure. No financial statements, Loan Document or any other document, certificate or
written statement furnished to Lender by Borrower or Guarantor and, to the knowledge of Borrower or Guarantor, no document or statement furnished by any third party on behalf of Borrower or Guarantor, for use in connection with the Loan contains any
untrue representation, warranty or statement of a material fact, and none omits to state a material fact necessary in order to make the statements contained herein or therein, in light of the circumstances under which they were made, not misleading.
As of the Closing Date, there has been no material adverse change in any condition, fact, circumstance or event that would make any such information inaccurate, incomplete or otherwise misleading in any material respect or that otherwise have a
Material Adverse Effect. There is no material fact known to Borrower that has had or will have a Material Adverse Effect and that has not been disclosed in writing to Lender by Borrower. 

(C)    Solvency. Neither Borrower nor Guarantor has entered into the transaction or any Loan
Document with the actual intent to hinder, delay, or defraud any creditor, and each of Borrower and Guarantor has received reasonably equivalent value in exchange for its obligations under the Loan Documents. Giving effect to the Loan, the fair
market value of Borrower’s assets exceeds and will, immediately following the making of the Loan, exceed Borrower’s total liabilities, including, without limitation, subordinated, unliquidated, disputed and contingent Indebtedness. The
fair market value of Borrower’s assets is and will, immediately following the making of the Loan, be greater than Borrower’s probable liabilities, including the maximum amount of its Indebtedness as any such Indebtedness that is contingent
becomes absolute and matured. Borrower’s assets do not constitute and, immediately following the making of the Loan will not, constitute unreasonably small capital to carry out Borrower’s business as conducted or as proposed to be
conducted. Borrower does not intend to, and does not believe that it will, incur Indebtedness and liabilities beyond its ability to pay such Indebtedness and liabilities as they mature (taking into account the timing and amounts of cash to be
received by Borrower and the amounts to be payable on or in respect of obligations of Borrower). 

  
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Section 4.4.    Indebtedness. No Individual Borrower shall have any
Indebtedness except for the Permitted Indebtedness. 
 Section 4.5.    Title to
Property. Borrower has good, marketable and insurable fee simple title to the Property, free and clear of all Liens except for the Permitted Encumbrances. Borrower owns and will own at all times all furnishings, fixtures, equipment,
and personal property used in connection with the Property other than personal property which is leased by Borrower or owned or leased by tenants of the Property, subject only to Permitted Encumbrances and to the replacement of obsolete personal
property on each Property. There are no pending proceedings in condemnation or eminent domain affecting any Individual Property, and to the knowledge of Borrower none is threatened. No Person has any option, right of refusal, or other right to
purchase all or any portion of any Individual Property or any interest therein, except as set forth in Schedule 4.5. There are no mechanic’s, materialman’s or other similar liens or claims which have been filed for
work, labor or materials affecting any Individual Property which are or may be liens prior to, or equal or coordinate with, the lien of the Security Instrument (and, to Borrower’s knowledge, no rights are outstanding that under applicable Legal
Requirements could give rise to any such liens). None of the Permitted Encumbrances, individually or in the aggregate, materially and adversely (i) affect the value of any Individual Property, (ii) impair the use or operations of any
Individual Property or (iii) impair Borrower’s ability to pay its obligations in a timely manner. 

Section 4.6.    Zoning; Compliance with Laws. Except as set forth in the
Zoning Report, (i) the zoning for each Individual Property is consistent in all material respects with its current use (or such use constitutes a legal nonconforming use), (ii) each Individual Property contains sufficient parking spaces to
satisfy all requirements in all material respects imposed by applicable Legal Requirements with respect to parking, (iii) no legal proceedings are pending or threatened in writing with respect to the compliance of the Property with the Legal
Requirements. To Borrower’s knowledge, neither the zoning compliance nor any other right to use or operate each Individual Property is in any way dependent upon or related to any real estate other than such Individual Property and validly
created, existing appurtenant perpetual easements insured in the applicable Title Policy. Except as set forth in the Zoning Report, to Borrower’s knowledge, if all or any part of the Improvements located on each Individual Property are
destroyed or damaged, said Improvements can be legally reconstructed to their condition prior to such damage or destruction, and thereafter exist for the same use without violating any zoning or other Legal Requirements applicable thereto and
without the necessity of obtaining any variances or special permits, other than customary demolition, building and other construction related permits. To Borrower’s knowledge, no legal proceedings are pending or threatened in writing with
respect to the zoning of the Property. Except as set forth in the Zoning Report. each Individual Property and the intended use thereof comply in all material respects with all Legal Requirements, including all applicable zoning, subdivision, parking
laws, applicable land use laws, regulations and ordinances, all applicable health, fire, building codes and all other laws, statutes, codes, ordinances, rules and regulations applicable to such Individual Property, including without limitation, the
Americans with Disabilities Act. To Borrower’s knowledge, no portion of the Property has been by any Individual Borrower purchased, improved, equipped, fixtured or furnished with proceeds of any criminal or other illegal activity and to
Borrower’s knowledge there are no illegal activities relating to controlled substances on any Individual Property. Except as set forth in the Zoning Report, all material permits, licenses and certificates for the construction, lawful use and
operation of each Individual Property have been obtained or will be obtained as and when required by law, and those obtained as of the date hereof are current and in full force and effect, and to Borrower’s knowledge there is no default in any
material respect thereunder by any party thereto and no event has occurred that, with the passage of time and/or the giving of notice would constitute a default thereunder. 

  
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 Section 4.7.    Leases; Agreements. 

(A)    Material Agreements. Borrower has provided Lender with true and complete copies of all Material
Contracts pertaining to the Property, including, the existing Management Agreement. Each Material Contract is in full force and effect in all material respects. Neither Borrower nor Guarantor is in default in the performance, observance or
fulfillment of any of the obligations, covenants or conditions contained in any Contractual Obligation of any such Person which would reasonably be expected to result in a Material Adverse Effect, and to Borrower’s knowledge, no condition
exists that, with the giving of notice or the lapse of time or both, would constitute such a default. Except as contemplated by the existing Management Agreement, no Person has any right or obligation to manage the Property or to receive
compensation in connection with such management. Except for the Loan Documents, none of the Borrower Parties is a party to or bound by, nor is any property of such Person subject to or bound by, any contract or other agreement which restricts such
Person’s ability to conduct its business in the ordinary course or has a Material Adverse Effect or would reasonably be expected to have a Material Adverse Effect. There is no agreement or instrument to which Borrower is a party or by which it
is bound that would require the subordination in right of payment of any of its obligations hereunder or under the Note to an obligation owed to another Person. 

(B)    Closing Rent Roll, Disclosure. A true and correct copy of the rent roll (the
“Closing Rent Roll”) for the Property as of January 18, 2019 is attached hereto as Schedule 4.7(B). The Closing Rent Roll constitutes a true, correct, and complete in all material respects list
of each and every Lease, and accurately and completely discloses in all material respects all annual and monthly rents payable by all Tenants under Leases. In all material respects, except only as specified in the Closing Rent Roll, (i) the
Leases are in full force and effect; (ii) no Individual Borrower is in default under any Lease and, to Borrower’s knowledge, no Tenant under any Lease is in default under its Lease; (iii) to Borrower’s knowledge, no Tenant has
any set-off, claim against the landlord, or defense to the enforcement of any Lease; and (iv) no Tenant is past due more than one month in the payment of rent, additional rent or any other material
charges due under any Lease. 
 (C)    Lease Issues. There are no material legal proceedings
commenced (or, to the knowledge of the Borrower, threatened in writing) against any Individual Borrower by any Tenant or former Tenant under a Material Lease. No Individual Borrower has received any written lease termination notices or lease
extension notices from any Tenant under a Material Lease, nor any written notice that any Tenant under a Material Lease is a debtor in a bankruptcy or insolvency proceeding.    Each of the Material Leases is valid and binding on
Borrower and, to Borrower’s knowledge, such other parties thereto in accordance with its terms. The execution of this Agreement and the other Loan Documents will not constitute an event of default under any of the Leases. 

Section 4.8.    Condition of Property. Except as described in the Property
Condition Report or Environmental Report, to Borrower’s knowledge, all Improvements are in good condition and repair, free from damage caused by fire or other casualty, and Borrower is not aware of any latent or patent structural or other
material defect or deficiency in any Individual Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing systems, HVAC systems, fire protection systems, electrical
systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components (ordinary wear and tear excepted). Except as described in the Property Condition Report or Environmental Report, to
Borrower’s knowledge, water supply, storm and sanitary sewers, and electrical, gas and telephone facilities, each provided by the local municipality or the applicable utility, are available to each Individual Property within the boundary lines
of such Individual Property, are fully connected to the Improvements and are fully operational, and are sufficient to meet the reasonable needs of such Individual Property as now used or presently contemplated

  
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to be used, and no other utility facilities are necessary to meet the reasonable needs of such Individual Property as now used or presently contemplated. Except as shown on a survey for such
Individual Property certified to and accepted by Lender prior to Closing, to Borrower’s knowledge, (i) no part of any Individual Property is located within a flood plain or in an area identified by the Federal Emergency Management Agency
or any successor thereto as an area having special flood hazards pursuant to the Flood Insurance Acts, and no part of any Individual Property consists of or is classified as wetlands, tidelands or swamp and overflow lands, (ii) none of the
Improvements create any encroachment over, across or upon any Individual Property’s boundary lines or in any rights of way or easements, and (iii) no building or other improvements from adjoining land create such an encroachment over any
portion of any Individual Property. Except as shown on a survey for such Individual Property certified to and accepted by Lender prior to Closing, to Borrower’s knowledge, access to each Individual Property for the current and contemplated uses
thereof is provided by means of dedicated, public roads and streets which are physically and legally open for use by the public, or by private easements which are insured parcels under the applicable Title Policy. Borrower has not received written
notice from any insurance company or bonding company of any defects or inadequacies in the Property in any material respect, or any part thereof, which have not been cured and which would materially adversely affect the insurability of the same or
cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of insurance or bond. 

Section 4.9.    Litigation; Adverse Proceedings. Except as set forth on
Schedule 4.9, there are no judgments outstanding against any Borrower Party or creating any Lien affecting any property of any Borrower Party, nor is there any action, charge, claim, demand, suit, proceeding, petition, governmental
investigation, Environmental Claims (as defined in the Environmental Indemnity) or arbitration now pending or, to Borrower’s knowledge, threatened in writing against any Borrower Party or affecting any Individual Property. No Borrower Party is
a party to any lawsuit, arbitration or similar proceeding that, if determined adversely to such party, would be reasonably likely to have a Material Adverse Effect. 

Section 4.10.    No Bankruptcy or Criminal Proceedings. No bankruptcy,
insolvency, reorganization or comparable proceedings or assignment for benefit of creditors has ever been instituted by or against any Borrower, and no such proceeding or assignment is now pending. Without limitation, no Borrower Party is a debtor,
and no property of any of them (including any Individual Property) is property of the estate in any voluntary or involuntary case under the Bankruptcy Code or under any applicable bankruptcy, insolvency or other similar law; and no Borrower Party
and no property of any of them is under the possession or control of a receiver, trustee or other custodian. No Borrower Party or any Person described in this Section has been charged, indicted or convicted, or to Borrower’s knowledge are
currently under the threat of charge, indictment or conviction, for any felony. To Borrower’s knowledge, Borrower has not committed any act or omission affording the federal government or any state or local government the right of forfeiture as
against any Individual Property or any part thereof or any monies paid in performance of Borrower’s obligations under this Agreement, the Note, the Security Instruments or the other Loan Documents. 

Section 4.11.    Payment of Taxes. 

(A)    Taxes. All federal, and material state, local, municipal, personal property and other tax
returns and reports of each Borrower Party required to be filed have been timely filed (or an extension to file the same has been lawfully obtained from the taxing authority), and all federal and other material Taxes, assessments, fees and other
governmental charges (including any payments in lieu of Taxes) upon such Person and upon its properties (including each Individual Property), assets, income and franchises which are due and payable have been paid prior to delinquency. No claim that
any tax is due from any Borrower Party or with respect to any property of any Borrower Party is being disputed or appealed. 

  
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 (B)    Assessments. Except as disclosed in the
Title Policy, there is not presently existing and no Individual Borrower has received written notice of (and to Borrower’s knowledge, there is not contemplated) any special assessment against any Individual Property or any part thereof, nor are
there any contemplated improvements to any Individual Property or any part thereof that may result in special or other assessments. No part of any Individual Property is included or assessed under or as part of another tax lot or parcel that does
not constitute Property pursuant to the Loan Documents, and no part of any other property that does not constitute Property pursuant to the Loan Documents is included or assessed under or as part of the tax lots or parcels comprising each Individual
Property. Except as disclosed in the Title Policy, no Tax Liens have been filed against any property of Borrower, and none is threatened in writing, in each case, other than the Lien for property taxes not yet delinquent. 

Section 4.12.    Employees. Borrower has no employees. 

Section 4.13.    Compliance with Other Laws. In addition to the representations
set forth in this Agreement pertaining to compliance with specific laws or specific areas of law, Borrower represents that no Individual Borrower is in violation of any Legal Requirements, which violation or
non-compliance would subject any Individual Borrower to criminal liability or would reasonably be expected to have, either individually or together with all such other violations and non-compliance, a Material Adverse Effect, and no such violation has been alleged by any such government, instrumentality or agency. 

Section 4.14.    No Plan Assets. As of the date hereof (and thereafter as provided
in Section 7.20 hereof) (i) Borrower is not and will not be an “employee benefit plan,” as defined in Section 3(3) of ERISA, subject to Title I of ERISA, (ii) Borrower is not and will not be a
“governmental plan” within the meaning of Section 3(32) of ERISA, (iii) transactions by or with Borrower under this Agreement and the other Loan Documents are not subject to any state statute regulating investments of, or
fiduciary obligations with respect to, governmental plans and (iv) none of the assets of Borrower constitutes or will constitute “plan assets” of one or more such plans within the meaning of 29 C.F.R.
Section 2510.3-101, as modified by Section 3(42) of ERISA. As of the date hereof (and thereafter as provided in Section 7.20 hereof), neither Borrower, nor any member of a
“controlled group of corporations” (within the meaning of Section 414 of the IRC), maintains, sponsors or contributes to or is obligated to contribute a “defined benefit plan” (within the meaning of Section 3(35) of
ERISA) or a “multiemployer pension plan” (within the meaning of Section 3(37)(A) of ERISA). 

Section 4.15.    Governmental Regulation. No Borrower Party is subject to
regulation under the Public Utility Holding Company Act of 1935, the Federal Power Act or the Investment Company Act of 1940 or to any federal or state statute or regulation limiting its ability to incur indebtedness for borrowed money. 

Section 4.16.    Bank Holding Company. No Borrower Party is a “bank
holding company” or a direct or indirect subsidiary of a “bank holding company” as defined in the Bank Holding Company Act of 1956, as amended, and Regulation Y thereunder of the Board of Governors of the Federal Reserve System.

 Section 4.17.    Broker and Financial Advisors. Except for the compensation,
if any, that may be payable by Borrower to the Broker pursuant to a written agreement between them to which Lender is not a party, no broker’s or finder’s fee, commission or similar compensation will be payable by or pursuant to any
contract or other obligation of Borrower or Guarantor with respect to the making of the Loan or any of the other transactions contemplated hereby or by any of the Loan Documents. 

Section 4.18.    Investments. No Individual Borrower has any
(i) direct or indirect interest in, including without limitation stock, partnership interest or other securities of, any other Person, or (ii) direct or indirect loan, advance or capital contribution to any other Person, including all
Indebtedness and accounts receivable from that other Person, except as shown on Schedule 4.1(A) (organizational chart). 
  

  
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 Section 4.19.    No Foreign
Person. No Individual Borrower is a “foreign person” within the meaning of Sections 1445 or 7701 of the IRC. If an Individual Borrower is a “disregarded entity” for U.S. federal income Tax purposes, then the regarded
owner, for U.S. federal income Tax purposes, of such Individual Borrower is not a “foreign person” within the meaning of Section 1445 or 7701 of the IRC. 

Section 4.20.    No Collective Bargaining Agreements. Neither Borrower nor
Guarantor is a party to any collective bargaining agreement. 

Section 4.21.    Brand. The Property is operated under the SmartStop Brand and
Borrower has the right to use, operate and conduct business at the Property under the SmartStop Brand pursuant to the Management Agreement. 

Section 4.22.    Insurance. Borrower has obtained and has delivered to Lender
certified copies of all insurance policies (or such other evidence acceptable to Lender) reflecting the insurance coverages, amounts and other requirements set forth in this Agreement. As of the date hereof, there are no present claims of any
material nature under any of the insurance policies, and to Borrower’s knowledge, no Person, including Borrower, has done, by act or omission, anything which would impair the coverage of any of the insurance policies. 

Section 4.23.    Anti-Money Laundering and Economic Sanctions. Borrower hereby
represents, warrants and covenants that each Borrower Party, the directors and officers of each Individual Borrower, any other owner of any direct or indirect interest in any Individual Borrower that is an Affiliate of any Borrower Party and, to the
knowledge of Borrower, the employees and agents of each Borrower Party has not and at all times throughout the term of the Loan, including after giving effect to any transfers of interests permitted pursuant to the Loan Documents, shall not:
(i) be (or have been) a Sanctioned Person; (ii) [reserved]; (iii) directly or indirectly use (or have used) any part of the proceeds of the Loan (including, without limitation, any sums disbursed from time to time hereunder) or otherwise lend,
contribute or make the same available (or have lent, contributed or made the same available), in each case, (A) to fund or facilitate any activities or business (I) of or with any Sanctioned Person or (II) of or in any Sanctioned
Jurisdiction in any manner that would result in a violation of any Sanctions by any Person or (B) in violation of any applicable laws (including, without limitation, the Patriot Act, AC Laws, AML Laws and/or Sanctions), (iv) be (or have been) a
Person who has been determined by competent authority to be subject to any of the prohibitions contained in the Patriot Act; or (v) be (or have been) owned or Controlled by or be (or have been) acting for or on behalf of, in each case, any
Person who has been determined to be subject to the prohibitions contained in the Patriot Act. Borrower and each Borrower Party has and shall operate (or have operated) in compliance with the Patriot Act, AC Laws, AML Laws and Sanctions. Without
limitation of any other term or provision contained herein, it shall be an Event of Default hereunder if any Borrower Party or any other party to any Loan Document becomes the subject of Sanctions or is indicted, arraigned or custodially detained on
charges involving Sanctions, the Patriot Act, AC Laws and /or AML Laws. Borrower hereby represents and covenants that none of the execution, delivery or performance of the Loan Documents or any activities, transactions, services, collateral and/or
security contemplated thereunder has or shall result in a breach of the Patriot Act, AC Laws, AML Laws and/or Sanctions by any party to the Loan Documents or to Borrower’s Knowledge, their respective Affiliates. All capitalized words and
phrases and all defined terms used in the Patriot Act are incorporated into this Section. As used herein, (A) “AC Laws” shall mean collectively (i) all laws, rules and regulations concerning or relating to bribery or
corruption, including, without limitation, the U.S. Foreign Corrupt Practices Act of 1977 and all other applicable anti-bribery and corruption laws and (ii) any amendment, extension, replacement or other

  
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modification of any of the foregoing from time to time and any corresponding provisions of future laws; (B) “AML Laws” shall mean collectively (i) all laws, rules,
regulations and guidelines concerning or relating to money laundering issued, administered and/or enforced by any governmental and/or regulatory agency and (ii) any amendment, extension, replacement or other modification of any of the foregoing
from time to time and any corresponding provisions of future laws; (C) “OFAC” shall mean the Office of Foreign Assets Control of the U.S. Department of the Treasury; (D) “Patriot Act” shall mean
collectively (i) the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (USA PATRIOT ACT) of 2001, as the same was restored and amended by Uniting and Strengthening America by
Fulfilling Rights and Ensuring Effective Discipline Over Monitoring Act (USA FREEDOM Act) of 2015, (ii) all statutes, orders, rules and regulations of the United States government and its various executive departments, agencies and offices related
to applicable anti-money laundering laws, rules and regulations and (iii) any amendment, extension, replacement or other modification of any of the foregoing from time to time and any corresponding provisions of future laws; (E)
“Sanctions” shall mean economic, trade and/or financial sanction, requirements and/or embargoes, in each case, imposed, administered and/or enforced from time to time by any Sanctions Authority;
(F)“Sanctions Authority” shall mean the United States (including, without limitation, OFAC and the U.S. State Department) and any other relevant sanctions authority; (G) “Sanctioned
Jurisdiction” shall mean, at any time, a country or territory that is, or whose government is, the subject of Sanctions (; and (H) “Sanctioned Person” shall mean, at any time, (i) any
Person listed in any Sanctions related list maintained by any Sanctions Authority, (ii) any Person operating, organized or resident in a Sanctioned Jurisdiction and/or (iii) any other subject of Sanctions (including, without limitation,
any Person Controlled or 50% or more owned (in each case, directly and/or indirectly and in the aggregate) by (or acting for, on behalf of or at the direction of) any Person or Persons described in subsections (i) and/or (ii) of this
definition). Notwithstanding anything to the contrary contained herein, and for the avoidance of doubt, no Borrower Party shall make any representations, warranties or covenants in this Section 4.23 or
Section 7.23 with respect to direct or indirect equity owners of Guarantor that are not otherwise Borrower Parties or their respective Affiliates, directors, officers, employees or agents.

Section 4.24.    Property Document Representations. With respect to each Property
Document, Borrower hereby represents that, to Borrower’s knowledge, (a) there are no material uncured defaults under such Property Document by any Individual Borrower or to Borrower’s knowledge any other party thereto, and no event
has occurred which, but for the passage of time, the giving of notice, or both, would constitute a material default under any such Property Document, that would have a Material Adverse Effect, and (b) no party to any Property Document has
commenced any action or given or received any notice for the purpose of terminating such Property Document such that such termination would have a Material Adverse Effect. Borrower agrees that all of the representations and warranties of Borrower
set forth in this Article IV and elsewhere in this Agreement and the other Loan Documents shall survive for so long as any portion of the Loan remains owing to Lender. All representations, warranties, covenants and
agreements made in this Agreement and in the other Loan Documents shall be deemed to have been relied upon by Lender notwithstanding any investigation heretofore or hereafter made by Lender or on its behalf. 

ARTICLE V 
 FINANCIAL
REPORTING AND BUDGETS 
 Section 5.1.    Financial Statements; Budgets, Notices to
Lender; Audit Rights. So long as any of the Obligations shall be outstanding, each Individual Borrower will keep and maintain or will cause to be kept and maintained on a Fiscal Year basis in accordance with GAAP and the requirements
of 

  
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Regulation AB, proper and accurate books, records and accounts reflecting all of the financial affairs of such Individual Borrower and all items of income and expense in connection with
the operation of the applicable Property. Lender shall have the right from time to time at all times during normal business hours upon reasonable notice to examine such books, records and accounts at the office of Borrower or any other Person
maintaining such books, records and accounts and to make such copies or extracts thereof as Lender shall desire. After the occurrence and during the existence of an Event of Default, Borrower shall pay any reasonable costs and expenses incurred by
Lender to examine Borrower’s accounting records with respect to the Property, as Lender shall reasonably determine to be necessary or appropriate in the protection of Lender’s interest. Upon Lender’s reasonable request, Borrower shall
furnish to Lender such other information reasonably necessary and sufficient to fairly represent the financial condition of each Individual Borrower and each Individual Property. 

(A)    Borrower will furnish to Lender annually, promptly but in any event within ninety (90) days after the
end of each fiscal year (a “Fiscal Year”)(beginning with Fiscal Year 2019) of Borrower a complete copy of Borrower’s annual financial statements prepared and audited by an Approved Accounting Firm or other independent
certified public accountants reasonably acceptable to Lender in accordance with GAAP covering each Individual Property for such Fiscal Year and containing statements of profit and loss for Borrower, and each Individual Property and a balance sheet
for Borrower. Such statements of Borrower shall set forth the financial condition and the results of operations for each Individual Property for such Fiscal Year, and shall include, but not be limited to, amounts representing annual, Net Operating
Income, Gross Income from Operations and Operating Expenses, and Borrower’s calculation of Underwritten Net Cash Flow with accompanying detail and schedules for such Fiscal Year. Borrower’s annual financial statements shall be accompanied
by an Authorized Officer’s Certificate certifying that each annual financial statement fairly presents the financial condition and the results of operations of Borrower and each Individual Property, and that such financial statements have been
prepared in accordance with GAAP. 
 (B)    Borrower shall furnish, not later than one hundred twenty
(120) days after the end of each Fiscal Year of Guarantor, a complete copy of Guarantor’s annual financial statements prepared and audited by an Approved Accounting Firm or other independent certified public accountants reasonably
acceptable to Lender in accordance with GAAP containing statements of profit and loss and a balance sheet for Guarantor. Such statements of Guarantor shall set forth the financial condition and the results of operations for the property of Guarantor
for such Fiscal Year. Guarantor’s annual financial statements shall be accompanied by an Authorized Officer’s Certificate of Guarantor certifying that each annual financial statement fairly presents the financial condition and the results
of operations of Guarantor and its property, and that such financial statements have been prepared in accordance with GAAP. 

(C)    Borrower will furnish, or cause to be furnished, to Lender on or before forty-five (45) days after the
end of each calendar quarter the following items, accompanied by an Authorized Officer’s Certificate of Guarantor stating that, in all material respects, such items are true, correct, accurate, and complete and fairly present the financial
condition and results of the operations of the Guarantor and its property (subject to normal year-end adjustments) as applicable: quarterly and
year-to-date financial statements prepared for each calendar quarter, and, upon Lender’s request, other information reasonably necessary to fairly represent the
financial position of Guarantor during such calendar quarter, in form reasonably satisfactory to Lender. In addition, such Authorized Officer’s Certificate of Guarantor shall also state as of the date thereof whether there exists an event or
circumstance which constitutes a Default or Event of Default under the Loan Documents. 

  
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 (D)    Borrower will furnish, or cause to be furnished, to Lender
on or before forty-five (45) days after the end of each calendar quarter the following items, accompanied by an Authorized Officer’s Certificate stating that, in all material respects, such items are true, correct, accurate, and complete
and fairly present the financial condition and results of the operations of the Borrower and each Individual Property (subject to normal year-end adjustments) as applicable: (i) a rent roll for the
subject month or quarter; (ii) quarterly and year-to-date operating statements (including Capital Expenditures) prepared for each calendar quarter, noting Net
Operating Income, Gross Income from Operations, and Operating Expenses (not including any contributions to the Replacement Reserve to the extent such Reserves are required by this Agreement), and, upon Lender’s request, other information
reasonably necessary to fairly represent the financial position and results of operation of each Individual Property during such calendar quarter, and containing a comparison of budgeted income and expenses and the actual income and expenses, all in
form reasonably satisfactory to Lender; (iii) a calculation reflecting Borrower’s calculation of Debt Yield as of the last day of such quarter; and (iv) a Borrower’s calculation of Underwritten Net Cash Flow, with accompanying
reasonable detail and schedules. In addition, such Authorized Officer’s Certificate shall also state that that there are no trade payables outstanding for more than sixty (60) days and as of the date thereof whether there exists an event
or circumstance which constitutes a Default or Event of Default under the Loan Documents. 
 (E)    Borrower
shall furnish as soon as available and in any event not later than forty-five (45) days after the commencement of each Fiscal Year during which any of the Obligations shall be outstanding: 

(i)    a reasonably detailed operating budget for each Individual Property, covering such Fiscal Year,
which operating budget shall be presented on a monthly basis. Upon the occurrence and during the continuance of a Cash Management Period, each such operating budget so submitted shall be subject to review and approval by Lender. Lender’s
approval of any proposed operating budget submitted as above provided shall not be unreasonably withheld, conditioned or delayed (each such operating budget, when so approved being herein referred to individually and collectively with all other
operating budgets so approved, as an “Approved Operating Budget”). If as of the beginning of any calendar year (that is during the continuance of a Cash Management Period) any operating budget for such year has not been
agreed to as provided above, Borrower shall cause each Individual Property to be operated in accordance with the Approved Operating Budget applicable during the immediately preceding year, except (A) to the extent Lender has approved particular
Operating Expenses in the proposed operating budget, in which event Borrower shall have the right to permit such approved Operating Expenses to be incurred and paid and (B) such Approved Operating Budget shall be deemed adjusted to reflect
actual increases in Taxes, Insurance Premiums and utilities expenses. 
 (ii)    a reasonably detailed
capital expenditures budget for each Individual Property, covering such Fiscal Year, which capital expenditures budget shall be presented on a monthly basis. Upon the occurrence and during the continuance of a Cash Management Period, each such
capital expenditures budget so submitted shall be subject to review and approval by Lender. Lender’s approval of any proposed capital expenditures budget submitted as above provided shall not be unreasonably withheld, conditioned or delayed
(each such capital expenditures budget, when so approved being herein referred to individually and collectively with all other capital expenditures budgets so approved, as an “Approved Capital Expenditures Budget”). If as of
the beginning of any calendar year (that is during the continuance of a Cash Management Period) any capital expenditures budget for such year has not been agreed to as provided above, Borrower shall cause each Individual Property to be operated in
accordance with the Approved Capital Expenditures Budget applicable during the immediately preceding year, except to the extent Lender has approved particular Capital Expenditures in the proposed capital expenditures budget, in which event Borrower
shall have the right to permit such approved Capital Expenditures to be incurred and paid. The Approved Operating Budget and the Approved Capital Expenditures Budget is referred to from time to time as the “Approved Annual
Budget”. 

  
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 (F)    In the event that Borrower must incur an extraordinary
Operating Expense or Capital Expenditure not set forth in the Approved Annual Budget, as applicable (each an “Extraordinary Expense” and if approved by Lender, an “Approved Extraordinary Expense”),
then, during a Cash Management Period, Borrower shall promptly deliver to Lender a reasonably detailed explanation of such proposed Extraordinary Expense for Lender’s approval, which such approval shall not be unreasonably withheld, conditioned
or delayed. 
 (G)    If, at the time a Disclosure Document is being prepared for a Securitization, Lender expects
that Borrower alone or Borrower and one or more Affiliates of Borrower collectively, or the Property alone or the Property and Related Properties collectively, will be a Significant Obligor, Borrower shall furnish to Lender upon request (i) the
selected financial data or, if applicable, Net Operating Income for Borrower and the Property for the most recent fiscal year and interim period (or such longer period as may be required by Regulation S-K if
the Loan is not treated as a non-recourse loan under Instruction 3 for Item 1101(k) of Regulation AB) meeting the requirements and covering the time periods specified in Section 301 of Regulation S-K and Item 1112 of Regulation AB, in each case as and to the extent such data is required with respect to Borrower thereunder, and (ii) the financial statements required under Item 1112(b)(2) of Regulation
AB, , in each case as and to the extent such data is required with respect to Borrower thereunder. Such financial data or financial statements shall be furnished to Lender (A) within ten (10) Business Days after notice from Lender in
connection with the preparation of Disclosure Documents for the Securitization, (B) not later than thirty (30) days after the end of each fiscal quarter of Borrower and (C) not later than seventy-five (75) days after the end of
each fiscal year of Borrower; provided, however, that Borrower shall not be obligated to furnish financial data or financial statements pursuant to clauses (B) or (C) of this sentence with respect to any period for which a filing
pursuant to the Exchange Act in connection with or relating to the Securitization (an “Exchange Act Filing”) is not required. All financial data and financial statements provided by Borrower hereunder shall be prepared in
accordance with GAAP, and shall meet the requirements of Regulation S-K or Regulation S-X, as applicable, Regulation AB and other applicable legal requirements. All
annual financial statements referred to in this Section 5.1(G) hereof shall be audited by an Approved Accounting Firm or other independent accountants of Borrower reasonably acceptable to Lender in accordance with
Regulation AB, Regulation S-K or Regulation S-X, as applicable, and all other applicable legal requirements, shall be accompanied by the manually executed report of the
independent accountants thereon, which report shall meet the requirements of Regulation S-K or Regulation S-X, as applicable, Regulation AB and all other applicable
legal requirements, and shall be further accompanied by a manually executed written consent of the independent accountants, in form and substance reasonably acceptable to Lender, to the inclusion of such financial statements in any Disclosure
Document and any Exchange Act Filing and to the use of the name of such independent accountants and the reference to such independent accountants as “experts” in any Disclosure Document and Exchange Act Filing, all of which shall be
provided at the same time as the related financial statements are required to be provided. All financial data and financial statements (audited or unaudited) provided by Borrower under this Section 5.1(G) shall be
accompanied by an Authorized Officer’s Certificate, which certification shall state that such financial statements meet the requirements set forth in this Section 5.1(G) in all material respects. If reasonably
requested by Lender, each Individual Borrower shall provide Lender, promptly upon request, with any other or additional financial statements, or financial, statistical or operating information in Borrower’s possession, as Lender shall
reasonably determine to be required pursuant to Regulation S-K or Regulation S-X, as applicable, or Regulation AB or any amendment, modification or replacement thereto
in connection with any Disclosure Document or any Exchange Act filing in connection with or relating to a Securitization. In the event Lender reasonably determines, in connection with a Securitization, that the financial data and financial
statements required in order to comply with Regulation S-K or Regulation S-X, as applicable, or Regulation AB or any amendment, modification or replacement thereto are
other than as provided herein, then notwithstanding the provisions of this Section 5.1(G), Lender may request, and Borrower shall promptly provide, at Lender’s sole cost, such other financial data and financial
statements in Borrower’s possession or reasonably obtainable by Borrower as Lender reasonably determines to be necessary for such compliance. 

  
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 (H)    If requested by Lender (which request shall be limited to
one time per year unless an Event of Default exists), Borrower shall provide Lender, promptly upon request, a list of Tenants (including all affiliates of such Tenants) that in the aggregate occupy 10% or more of the total floor area of the
Improvements of any Individual Property or the Property, in the aggregate, or represent 10% or more of aggregate base rent from any Individual Property or the Property, in the aggregate. 

(I)    Any reports, statements or other information required to be delivered under this Agreement (collectively,
“Financial Statements”) shall be provided to Lender in a form reasonably acceptable to Lender, and shall be delivered electronically unless Lender requests that the same be delivered in paper form (provided that the form in
which the financial statements delivered to Lender in connection with the closing of the Loan prior to the date hereof shall be deemed satisfactory to Lender). Borrower agrees that Lender may disclose information regarding the Property and Borrower
that is provided to Lender pursuant to this Agreement in connection with any Securitization to such parties requesting such information in connection with such Securitization. 

(J)    Borrower shall furnish to Lender, within ten (10) Business Days after Lender’s, or, if all or part
of the Loan is being or has been included in a Securitization, by the Rating Agencies, written request, such reasonable additional information as may be reasonably requested with respect to the Property and each Individual Borrower. 

Section 5.2.    Reserved. 

Section 5.3.    Other Reporting Related Matters. 

(A)    Additional Reporting. In addition to the foregoing, Borrower shall provide to Lender, within
ten (10) Business Days after request (or as soon thereafter as may be reasonably possible) such further documents and information concerning its operations, properties, ownership, and finances as Lender shall from time to time reasonably
request, certified by an authorized person of Borrower, on behalf of Borrower, to be true, correct and complete in all material respects 

(B)    GAAP. Borrower Parties that are entities will maintain systems of accounting established and
administered in accordance with sound business practices and sufficient in all material respects to permit preparation of Financial Statements in conformity with GAAP. All Financial Statements shall be prepared in accordance with GAAP consistently
applied. 
 (C)    Certifications of Financial Statements and Other Documents, Compliance
Certificate. Together with the Financial Statements and other documents and information provided to Lender by or on behalf of any Borrower Party under this Section, such Borrower Party also shall deliver to Lender a certification in form and
substance reasonably satisfactory to Lender, executed on behalf of such Borrower Party by an officer knowledgeable about such Person’s financial affairs, stating that, to such officer’s knowledge, such Financial Statements, documents, and
information are true and complete in all material respects and do not omit to state any material information without which the same might reasonably be misleading. 

(D)    Fiscal Year. Each Borrower Party represents that its fiscal year ends on December 31, and
agrees that it shall not change its fiscal year. 

  
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 Section 5.4.    Events of Default,
etc. Promptly upon Borrower obtaining actual knowledge of any of the following events or conditions, Borrower shall deliver a notice to Lender specifying the nature and period of existence of such condition or event and what action Borrower
or any Affiliate thereof has taken, is taking and proposes to take with respect thereto: (i) any condition or event that constitutes an Event of Default; (ii) any condition or event that (alone or together with other conditions or events)
causes or poses a reasonable risk of causing a Material Adverse Effect; or (iii) any termination or actual event of default under any Management Agreement, Material Lease, franchise or license agreement, or other Material Contract;
(iv) any Casualty, or any threatened (in writing) or pending Condemnation. 

Section 5.5.    Litigation. Promptly upon Borrower’s obtaining knowledge of
(i) the institution, or threat (in writing) thereof, of any action, suit, proceeding, governmental investigation or arbitration against or affecting any Individual Borrower or any Individual Property not previously disclosed on
Schedule 4.9 that is not covered by insurance and, if adversely determined against such Person, would reasonably be anticipated to have a Material Adverse Effect, or (ii) any material development in any action, suit,
proceeding, governmental investigation or arbitration at any time pending against or affecting any Individual Borrower or any Individual Property that would not be covered by insurance and, if adversely determined against such Person, would
reasonably be anticipated to have a Material Adverse Effect, Borrower will give written notice thereof to Lender and provide such other information as may be reasonably available to enable Lender and its counsel to evaluate such matter. 

Section 5.6.    Other Information. With reasonable promptness, Borrower will
deliver such other information and data with respect to any Borrower Party or the Property as from time to time may be reasonably requested by Lender. 

ARTICLE VI 
 INSURANCE,
CASUALTY, CONDEMNATION 
 Section 6.1.    Maintenance of Insurance. 

(A)    Borrower will obtain and cause to be maintained, the insurance policies for each Borrower and each Individual
Property described in Schedule 6.1 in such amounts and for such periods as Lender shall require. 

(B)    All insurance provided for in this Article shall be obtained under valid and enforceable policies (the
“Policies” or in the singular, the “Policy”), in such forms, amounts, coverages, deductibles, loss payees and insureds, in each case, as may be satisfactory to Lender, issued by financially sound and responsible
insurance companies authorized to do business in the state in which the applicable Individual Property is located and approved by Lender. Each carrier providing any insurance, or portion thereof, required by this Section shall have a general
policy rating of A or better by S&P and a financial class of X or better by A.M. Best Company, Inc., and a claims paying ability/financial strength rating of “A” or better by S&P, “A” or better by Fitch, to the extent
Fitch rates the Securities and the applicable insurance carrier and “A2” or better by Moody’s, to the extent Moody’s rates the Securities and the applicable insurance carrier (each such insurer shall be referred to below as a
“Qualified Insurer”). Not less than fifteen (15) days prior to the expiration dates of the Policies theretofore furnished to Lender pursuant to Subsection 7.1(a), Borrower shall deliver complete copies of the Policies marked
“premium paid” or accompanied by evidence satisfactory to Lender of payment of the premiums due thereunder (the “Insurance Premiums”), provided, however, that in the case of renewal Policies, Borrower may furnish Lender
with binders and Acord Form 28 Certificates therefor to be followed by the original Policies when issued. At least once per calendar year, Borrower shall provide Lender with updated flood zone certifications for the Property (in form and substance
acceptable to Lender), which such flood zone certifications shall be delivered to Lender upon the earlier to occur of (i) December 1 of each calendar year or (ii) the renewal of the applicable Policy providing flood insurance coverage
during the applicable calendar year. 

  
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 (C)    All Policies of insurance provided for or contemplated by
this Section 6.1 and Schedule 6.1 shall name Borrower as the insured and, in the case of liability Policies (except for the Policies referenced in clauses (v) and (x) of Schedule 6.1) shall name Lender as
an additional insured, as their respective interests may appear, and, in the case of property damage Policies (including, but not limited to, terrorism, rent loss, business interruption, boiler and machinery, earthquake and flood insurance), such
Policies shall contain a standard noncontributing mortgagee clause in favor of Lender providing that the loss thereunder shall be payable to Lender. 

(D)    Each Policy referred to in clauses (i), (iii), (iv), (vi) and (viii) of Schedule 6.1 shall
contain standard non-contributory mortgagee clauses in favor of and acceptable to Lender. All Policies of insurance provided for in Schedule 6.1 shall contain clauses or endorsements to the effect that:
(i) with respect to the property policies, (1) the following shall in no way affect the validity or enforceability of the Policy insofar as Lender is concerned: (A) any act or negligence of Borrower, or of any other Person named as an
insured, (B) any foreclosure or other similar exercise of remedies and (C) the failure to comply with the provisions of the Policy which might otherwise result in a forfeiture of the insurance or any part thereof, (2) the property
policies shall not be cancelled without at least 30 days’ written notice to Lender, except ten (10) days’ notice for non-payment of premium and (3) the issuer(s) of the policies shall give
written notice to Lender if the issuers elect not to renew the policies prior to its expiration; (ii) any loss otherwise payable thereunder shall be payable notwithstanding the occupation or use of any of the Property for purposes more
hazardous than those permitted by the provisions of such policy; (iii) any foreclosure or other action or proceeding taken by Lender pursuant to any provision of any Security Instrument or the Note or other document evidencing or securing the
Loan upon the happening of an event of default therein; (iv) any change in title to or ownership of any Individual Property; (v) with respect to the liability policies, the Policy shall not be cancelled without at least thirty
(30) days’ written notice to Lender, except ten (10) days’ notice for non-payment of premium; (vi) if obtainable by Borrower using commercially reasonable efforts, if obtainable by
Borrower using commercially reasonable efforts, the issuer(s) of the Policy shall give written notice to Lender (if the issuers elect not to renew the policies prior to its expiration; (vii) Lender shall not be liable for any Insurance Premiums
thereon or subject to any assessments or commissions thereunder and that the related issuer(s) waive any related claims to the contrary; (viii) Lender shall, at its option and with no obligation to do so, have the right to directly pay
Insurance Premiums in order to avoid cancellation, expiration and/or termination of the Policy due to non-payment of Insurance Premiums; and (ix) the Policy shall not exclude coverage for acts of terror
or similar acts of sabotage. 
 (E)    By no later than five (5) days following the expiration date of any
Policies, Borrower shall furnish to Lender a statement certified by Borrower of the amounts of insurance maintained in compliance herewith, of the risks covered by such insurance and of the insurance company or companies which carry such insurance
and, if requested by Lender, verification of the adequacy of such insurance by an independent insurance broker or appraiser acceptable to Lender. Without limitation of the foregoing, Borrower shall also comply with the foregoing within ten
(10) days of written request of Lender. Borrower shall promptly forward to Lender a copy of each written notice received by any Borrower Party of any modification, reduction or cancellation of any of the Policies or of any of the coverages
afforded under any of the Policies. 
 (F)    Borrower is hereby notified that unless Borrower provides Lender
with evidence acceptable in form to Lender of the insurance coverage required by this Agreement and the other Loan Documents, Lender may purchase insurance at Borrower’s expense to protect Lender’s interests in the

  
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Property, which insurance may, but need not, protect the interests of Borrower. The coverage purchased by Lender may not pay any claim made by Borrower or any claim made against Borrower in
connection with the Property. Borrower may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained the insurance as required hereunder and under the other Loan Documents. If Lender
purchases insurance, Borrower will be responsible for the costs of such insurance, including interest and any other charges imposed in connection with the placement of the insurance, together with interest thereon at the Default Rate, until the
effective date of the cancellation or expiration of the insurance. The costs of the insurance may be added to the total obligation secured by this Agreement, the Security Instruments and the other Loan Documents. The costs of such insurance may be
greater than the cost of insurance Borrower may be able to obtain for itself. 
 (G)    Borrower shall not obtain
(or permit to be obtained) (i) any umbrella or blanket liability or casualty Policy unless, in each case, such Policy is approved in advance in writing by Lender, Lender’s interest is included therein as provided in this Agreement, such
Policy is issued by a Qualified Insurer and such Policy includes such changes to the coverages and requirements set forth herein as may be required by Lender (including, without limitation, increases to the amount of coverages required herein) or
(ii) separate insurance concurrent in form or contributing in the event of loss with that required in this Section 6.1 and Schedule 6.1 to be furnished by, or which may be reasonably required to be furnished by,
Borrower. In the event Borrower obtains (or causes to be obtained) separate insurance or an umbrella or a blanket Policy, Borrower shall notify Lender of the same and shall cause complete copies of each Policy to be delivered as required in this
Section 6.1 and Schedule 6.1. Notwithstanding Lender’s approval of any umbrella or blanket liability or casualty Policy hereunder, Lender reserves the right, in its sole discretion, to require Borrower to obtain
a separate Policy in compliance with this Section 6.1 and Schedule 6.1. Without limitation of any provision hereof, (i) Lender’s consent required hereunder with respect to any umbrella or blanket policy
shall include the schedule of locations and values with respect to the same and (ii) any umbrella or blanket Policy shall specifically allocate to each Individual Property the amount of coverage from time to time required hereunder and shall
otherwise provide the same protection as would a separate Policy insuring only such Individual Property in compliance with the provisions of this Section 6.1 and Schedule 6.1. 

(H)    Borrower shall promptly comply with and conform to (x) all provisions of each Policy required by this
Section 6.1 and Schedule 6.1, and (y) all requirements of the insurers thereunder applicable to Borrower or any Individual Property or to the use, manner of use, occupancy, possession, operation, maintenance,
alteration or repair of any Individual Property. All policies shall contain full waivers of subrogation against the Lender. Without limiting any of the foregoing obligations of Borrower, Borrower shall also comply with any insurance requirements
contained in any other agreement to which Borrower is a party or that encumber any Individual Property, including without limitation, any covenants, conditions or restrictions that encumber any Individual Property. 

(I)    Borrower hereby grants to Lender a security interest in all policies of insurance that may now or hereafter
be required or provided hereunder, and all other policies of insurance in which Borrower has or may hereafter acquire any rights, and all proceeds of any and all of the foregoing. Without limitation, but subject to the terms set forth herein,
Borrower hereby assigns to Lender all rights to receive any proceeds of any such insurance policies. In the event of a foreclosure of any Security Instrument or other transfer of title to any Individual Property (or any portion thereof) in
extinguishment in whole or in part of the Loan, to the extent permitted, all right, title and interest of Borrower in and to the Policies then in force to the extent concerning the applicable Individual Property (or any portion thereof) and all
proceeds payable and not otherwise already paid thereunder shall thereupon vest exclusively in Lender or the purchaser at such foreclosure or other transferee in the event of such other transfer of title. 

  
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 Section 6.2.    Casualty and Condemnation.

 (A)    In the event of Casualty or Condemnation at any Individual Property (other than non-material Casualty at an Individual Property involving damages of less than $100,000, when aggregated with any other then unrestored Casualty damage at the applicable Individual Property), Borrower shall give
prompt written notice of the same to the insurance carrier and to Lender and shall promptly commence and diligently prosecute to completion, in accordance with the terms hereof, the repair and restoration of such Individual Property as nearly as
possible to the condition of such Individual Property prior to the casualty or loss (a “Restoration”). Borrower shall pay all costs of the Restoration whether or not such costs are covered by Insurance or Condemnation
Proceeds. Lender may participate in any settlement discussions with any insurance companies concerning a Casualty, and any settlement discussions with any Governmental Authority with respect to a Condemnation (and shall have the right to approve any
final settlement with respect to either) with respect to any Casualty or Condemnation in which the Net Proceeds or the costs of completing the Restoration are reasonably expected to exceed the Net Proceeds Threshold (and otherwise if an Event of
Default has occurred and is continuing). Borrower shall execute and deliver to Lender all instruments reasonably required by Lender to permit such participation. With respect to any Casualty or Condemnation in which the Net Proceeds or the costs of
completing the Restoration are reasonably expected to exceed the Net Proceeds Threshold (and otherwise if an Event of Default has occurred and is continuing), Borrower shall cooperate with Lender in obtaining for Lender the benefits of any Insurance
or Condemnation Proceeds lawfully or equitably payable in connection with each Individual Property, and Lender shall be reimbursed by Borrower for any reasonable expenses actually incurred in connection therewith (including reasonable
attorneys’ fees and disbursements, and the payment by Borrower of the expense of an appraisal on behalf of Lender in case of Casualty or Condemnation affecting any Individual Property or any part thereof) from such Insurance or Condemnation
Proceeds, as applicable. If an Event of Default exists, Lender may, at Lender’s option, retain and apply, in accordance with Section 2.8(C) hereof, the balance of the Insurance or Condemnation Proceeds toward reduction
of the Obligations whether or not then due and payable in such order, priority and proportions as Lender in its sole discretion shall deem proper 

(B)    If not disbursed to Borrower as provided in Section 6.2(E)(i) below if the Net
Proceeds are less than the Net Proceeds Threshold, Lender may, at Lender’s option, condition disbursement of any Insurance or Condemnation Proceeds on Lender’s reasonable approval of plans and specifications prepared by an independent
architect licensed in the state where the applicable Individual Property is located, having at least three (3) years of experience as an architect and reasonably satisfactory to Lender (an “Approved Architect”), any and
all material contractors, subcontractors and materialmen engaged in the Restoration and satisfaction of liens as Lender may reasonably require. Lender shall not be obligated to disburse Insurance or Condemnation Proceeds more frequently than once
every calendar month. If Insurance or Condemnation Proceeds are applied to the payment of the Obligations, any such application of proceeds to principal shall not extend or postpone the due dates of the monthly payments due under the Note or
otherwise under the Loan Documents, or change the amounts of such payments. Any amount of Insurance or Condemnation Proceeds remaining in Lender’s possession after full and final payment and discharge of all Obligations shall be refunded to
Borrower (or if the Mezzanine Loan remains outstanding, disbursed to Mezzanine Lender for application pursuant to the Mezzanine Loan Documents). If any Individual Property is sold at foreclosure or if Lender acquires title to any Individual
Property, Lender shall have all of the right, title and interest of Borrower in and to any Insurance Proceeds, and in and to the proceeds resulting from any damage to the applicable Individual Property prior to such sale or acquisition, in each case
if and to the extent not previously applied to the Obligations or Restoration of the Individual Property. 

  
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 (C)    If not disbursed to Borrower as provided in
Section 6.2(E)(i) below if the Net Proceeds are less than the Net Proceeds Threshold, in no event shall Lender be obligated to make disbursements of Insurance or Condemnation Proceeds in excess of an amount
equal to the costs actually incurred from time to time for work in place as part of the Restoration, as certified by the Approved Architect, less a retainage equal to the lesser of (x) the maximum retainage amounts permitted under applicable
law and (y) ten percent (10%) of such costs incurred until the Restoration has been completed in all material respects (the “Retention Amount”). The retainage shall in no event be less than the amount actually held back
by Borrower from contractors, subcontractors and materialmen engaged in the Restoration. The retainage shall not be released until the Approved Architect certifies to Lender that the Restoration has been completed substantially in accordance with
the provisions of this Section 6.2 and that all material approvals necessary for the re-occupancy and use of the applicable Individual Property have been obtained from all appropriate
Governmental Authorities, and Lender receives evidence reasonably satisfactory to Lender that the costs of the Restoration have been paid in full or will be paid in full out of the retainage. 

(D)    Condemnation. Borrower shall promptly give Lender notice of the actual or threatened in writing
commencement of any proceeding in respect of Condemnation, and shall deliver to Lender copies of any and all papers served in connection with such proceedings. For Condemnations in which the Net Proceeds or the costs of completing the Restoration
are reasonably expected to exceed the Net Proceeds Threshold (and otherwise if an Event of Default has occurred and is continuing), Lender may participate in any such proceedings, and Borrower shall from time to time deliver to Lender all
instruments reasonably requested by Lender to permit such participation. Borrower shall, at its expense, diligently prosecute any such proceedings, and for Condemnations in which the Net Proceeds or the costs of completing the Restoration are
reasonably expected to exceed the Net Proceeds Threshold (and otherwise if an Event of Default has occurred and is continuing), shall consult with Lender, its attorneys and experts, and cooperate with them in the carrying on or defense of any such
proceedings. Notwithstanding any taking by any public or quasi-public authority through Condemnation or otherwise (including, but not limited to, any transfer made in lieu of or in anticipation of the exercise of such taking), Borrower shall
continue to perform the Obligations at the time and in the manner provided in this Agreement and the other Loan Documents and the Obligations shall not be reduced until any Condemnation Proceeds shall have been actually received and applied by
Lender to the reduction or discharge of the Obligations. Lender shall not be limited to the interest paid on the award by the applicable Governmental Authority but shall be entitled to receive out of the award interest at the rate or rates provided
herein or in the Note. If any Individual Property or any portion thereof is taken by a Governmental Authority, Borrower shall promptly commence and diligently prosecute Restoration and otherwise comply with the provisions of
Section 6.2(E). If the applicable Individual Property is sold, through foreclosure or otherwise, prior to the receipt by Lender of the award, Lender shall have the right, whether or not a deficiency judgment on the Note
shall have been sought, recovered or denied, to receive the award, in each case if and to the extent not previously applied to the Obligations or Restoration of the Individual Property. 

(E)    Restoration.    The following provisions shall apply in connection with
any Restoration: 
 (i)    If the Net Proceeds shall be less than the Net Proceeds Threshold and the costs of
completing Restoration shall be less than the Net Proceeds Threshold, and provided no Event of Default shall have occurred and be continuing, the Net Proceeds will be disbursed by Lender to Borrower upon receipt (or if not yet received, Lender shall
permit such Net Proceeds to be disbursed directly to Borrower), provided that the conditions set forth in Section 6.2(E)(ii)(a)(6) and (8) are satisfied in all material respects and Borrower delivers to Lender a
written undertaking to expeditiously commence and to satisfactorily complete with due diligence Restoration in accordance with the terms of this Agreement and the conditions set forth in Section 6.2(E)(ii)(a)(6), (7)
and (8). 

  
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 (ii)    If the Net Proceeds are equal to or greater than the Net
Proceeds Threshold, or the costs of completing Restoration is equal to or greater than the Net Proceeds Threshold, the Net Proceeds will be held by Lender and Lender shall make the Net Proceeds available for Restoration in accordance with the
provisions of this Section 6.2. The term “Net Proceeds” for purposes of this Section 6.2(E) shall mean: (a) the net amount of all insurance proceeds received by Lender as a
result of such damage or destruction, after deduction of Lender’s reasonable out-of-pocket costs and expenses (including, but not limited to, reasonable counsel
costs and fees), if any, in collecting same (“Insurance Proceeds”), or (b) the net amount of the award, after deduction of Lender’s reasonable
out-of-pocket costs and expenses (including, but not limited to, reasonable counsel costs and fees), if any, in collecting same (“Condemnation
Proceeds”), whichever the case may be. 
 (a) The Net Proceeds shall be made available to Borrower for
Restoration provided the following conditions are met: 
 (1)    no Event of Default shall have occurred
and be continuing; 
 (2)    (x) in the event the Net Proceeds are Insurance Proceeds, less than
thirty-five percent (35%) of the total floor area of the Improvements on the applicable Individual Property has been damaged, destroyed or rendered unusable as a result of such Casualty, or (y) in the event the Net Proceeds are Condemnation
Proceeds, less than fifteen percent (15%) of the land constituting the Individual Property is taken, and such land is located along the perimeter or periphery of such Individual Property, and no portion of the Improvements is located on such land;

 (3)    Borrower shall commence Restoration as soon as reasonably practicable (but in no event later
than sixty (60) days after the issuance of a building permit with respect thereto) and shall diligently pursue the same to satisfactory completion; 

(4)    Lender shall be reasonably satisfied that any operating deficits, including all scheduled payments
of principal and interest under the Note, which will be incurred with respect to the affected Individual Property as a result of the occurrence of any such Casualty or Condemnation, whichever the case may be, will be covered out of (1) the Net
Proceeds, (2) the insurance coverage referred to in paragraph (iii) of Schedule 6.1, if applicable, or (3) by other funds of Borrower; 

(5)    Lender shall be reasonably satisfied that Restoration will be completed on or before the earliest
to occur of (1) six (6) months prior to the Maturity Date, (2) the earliest date required for such completion under the terms of any Material Lease or Property Document, (3) such time as may be required under all applicable Legal
Requirements in order to repair and restore the applicable Individual Property to the condition it was in immediately prior to such Casualty or to as nearly as possible the condition it was in immediately prior to such Condemnation, as applicable,
or (4) prior to the expiration of the insurance coverage referred to in paragraph (iii) of Schedule 6.1; 

  
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 (6)    the applicable Individual Property and the use
thereof after Restoration will be in compliance with and permitted under all applicable Legal Requirements and all Property Documents in all material respects; 

(7)    Restoration shall be done and completed by Borrower in an expeditious and diligent fashion and in
compliance with all applicable Legal Requirements and all Property Documents in all material respects; 

(8)    such Casualty or Condemnation, as applicable, does not result in the loss of access to the
applicable Individual Property or the related Improvements that cannot reasonably be restored; 

(9)    Lender shall be satisfied that cash flow from the applicable Individual Property after Restoration
will not be less than the cash flow immediately prior to the Casualty or Condemnation; 

(10)    Borrower shall deliver, or cause to be delivered, to Lender a signed detailed budget approved in
writing by Borrower’s architect or engineer stating the entire cost of completing Restoration, which budget shall be reasonably acceptable to Lender; and 

(11)    the Net Proceeds together with any cash or cash equivalent deposited by Borrower with Lender are
sufficient in Lender’s reasonable discretion to cover the cost of Restoration. 
  

	 	(b)	 If not disbursed to Borrower as provided in Section 6.2(E)(i) above if the Net
Proceeds are less than the Net Proceeds Threshold, the Net Proceeds shall be paid directly to Lender for deposit in an interest-bearing account (the “Net Proceeds Account”) and, until disbursed in accordance with the
provisions of this Section 6.2(E), shall constitute additional security for the Obligations. The Net Proceeds shall be disbursed by Lender to, or as directed by, Borrower from time to time during the course of Restoration,
upon receipt of evidence reasonably satisfactory to Lender that (1) all materials installed and work and labor performed (except to the extent that they are to be paid for out of the requested disbursement) in connection with Restoration have
been paid for in full or will be paid for in full with such disbursement, and (2) there exist no notices of pendency, stop orders, mechanic’s or materialman’s liens or notices of intention to file same, which have not either been
fully bonded to the satisfaction of Lender and discharged of record or in the alternative fully insured to the satisfaction of Lender by the Title Company. 

  

	 	(c)	 All plans and specifications required in connection with Restoration shall be subject to prior review and
reasonable acceptance in all material respects by Lender and by an independent consulting engineer reasonably selected by Lender (the “Casualty Consultant”). Lender shall have the use of the plans and specifications and all
permits, licenses and approvals required or obtained in connection with Restoration. The identity of the contractors, subcontractors and materialmen engaged in Restoration with respect to material construction contracts, as well as the contracts
under which they have been engaged, shall be subject to prior review and reasonable acceptance by Lender and the Casualty Consultant. All reasonable costs and 

  
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expenses actually incurred by Lender in connection with making the Net Proceeds available for Restoration including, without limitation, reasonable counsel fees and disbursements and the Casualty
Consultant’s reasonable fees, shall be paid by Borrower. 

  

	 	(d)	 In no event shall Lender be obligated to make disbursements of the Net Proceeds in excess of an amount equal to
the costs actually incurred from time to time for work in place as part of Restoration, as certified by the Casualty Consultant, minus the Retention Amount subject to verifications set forth in Section 6.2(C). If required
by Lender, the release of any such portion of the Retention Amount shall be approved by the surety company, if any, which has issued a payment or performance bond with respect to the contractor, subcontractor or materialman. 

 

	 	(e)	 Lender shall not be obligated to make disbursements of the Net Proceeds more frequently than once every
calendar month. 

  

	 	(f)	 If at any time the Net Proceeds or the undisbursed balance thereof shall not, in the reasonable opinion of
Lender in consultation with the Casualty Consultant, be sufficient to pay in full the balance of the costs which are estimated by the Casualty Consultant to be incurred in connection with the completion of Restoration, Borrower shall deposit the
deficiency (the “Net Proceeds Deficiency”) with Lender before any further disbursement of the Net Proceeds shall be made. The Net Proceeds Deficiency deposited with Lender shall be held by Lender and shall be disbursed for
costs actually incurred in connection with Restoration on the same conditions applicable to the disbursement of the Net Proceeds, and until so disbursed pursuant to this Section 6.2(E) shall constitute additional security
for the Obligations. 

  

	 	(g)	 The excess, if any, of the Net Proceeds and the remaining balance, if any, of the Net Proceeds Deficiency
deposited with Lender after the Casualty Consultant certifies to Lender that Restoration has been completed in accordance with the provisions of this Section 6.2(E), and the receipt by Lender of evidence reasonably
satisfactory to Lender that all costs incurred in connection with Restoration have been paid in full (the “Excess Net Proceeds”), shall be, provided no Event of Default shall have occurred and shall be continuing (A) to
the extent the Mezzanine Loan is outstanding, transferred to Mezzanine Lender for application in accordance with the Mezzanine Loan Documents, and (B) to the extent no Mezzanine Loan is outstanding, remitted by Lender to Borrower.

 (iii)    If Net Proceeds are not required to be (i) made available for Restoration (due to
Borrower’s inability to satisfy the conditions set forth in Section 6.2(E) or otherwise), or (ii) paid to the Mezzanine Lender or returned to Borrower as Excess Net Proceeds pursuant to
Section 6.2(E), then in any such event all Net Proceeds may be retained and applied by Lender in accordance with Section 2.8(C) hereof toward reduction of the Obligations whether or not then due
and payable in such order, priority and proportions as is set forth in Section 2.8(C), or, in the sole discretion of Lender, the same may be paid, either in whole or in part, to Borrower for such purposes as Lender shall
approve, in its sole discretion. 
 (iv)    In the event of foreclosure of any Security Instrument, or other transfer of
title to any Individual Property in extinguishment in whole or in part of the Loan, all right, title and interest of 

  
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Borrower in and to the Policies that are not blanket Policies then in force concerning such Individual Property and all proceeds payable thereunder in connection with any Casualty or
Condemnation, shall thereupon vest in the purchaser at such foreclosure or Lender or other transferee in the event of such other transfer of title. 

(F) Notwithstanding the foregoing provisions of this Section 6.2 or anything to the contrary set forth
herein, if the Loan or any portion thereof is included in a REMIC Trust and, immediately following a release of any portion of the lien of any Security Instrument in connection with a Casualty, Condemnation or other loss at any Individual Property,
the ratio of the value of the Property (such value to be determined, in Lender’s sole discretion, at Borrower’s sole cost and expense, by any commercially reasonable method permitted to a REMIC Trust, but shall be based solely on the value
of real property and shall exclude personal property and going-concern value) to the outstanding principal balance of the Loan is greater than one hundred and twenty-five percent (125%), (a) the applicable Net Proceeds shall be applied first to the
Loan rather than to Restoration in an amount necessary to cause the value of real property (excluding personal property and going-concern value) to the outstanding principal balance of the Loan to be less than one hundred and twenty-five percent
(125%), and (b) to the extent that the amount of the applicable Net Proceeds actually applied to the Loan in connection therewith is insufficient under REMIC Requirements, Borrower shall, within ten (10) Business Days of demand by Lender,
prepay the principal amount of the Loan in accordance with the applicable terms and conditions hereof in an amount equal to such insufficiency. 

Section 6.3. Costs and Expenses. Borrower shall reimburse Lender within ten (10) Business Days
after written demand for all reasonable out-of-pocket costs and expenses, including reasonable attorneys’ fees, incurred by Lender in connection with any Casualty
or any threatened in writing or actual Condemnation or any contemplated in writing or actual transaction in lieu of Condemnation, including without limitation any such reasonable
out-of-pocket costs or expenses incurred in connection with any application or claim for Insurance or Condemnation Proceeds and any Restoration. Lender is hereby
authorized to apply Insurance or Condemnation Proceeds against any such costs and expenses. 
 ARTICLE VII 

GENERAL COVENANTS 

Section 7.1. Existence; Qualification; SPE Bankruptcy Remote Entity. 

(A) In Existence/Qualified. Each Individual Borrower at all times shall preserve and keep in full force and effect its
existence, and all rights and franchises material to its business, including its qualification to do business in each state where it is required by law to so qualify. Without limitation of the foregoing, each Individual Borrower shall at all times
be qualified to do business in the state where its applicable Individual Property is located. 
 (B) SPE Bankruptcy Remote
Entity. Until the Obligations have been paid in full, each Individual Borrower hereby represents, warrants and covenants that each Individual Borrower is, shall be and shall continue to be a SPE Bankruptcy Remote Entity. 

(i) The representations, warranties and covenants set forth in this Section 7.1(B) shall survive for so long as any
Obligations payable to Lender under this Agreement or any other Loan Document remain outstanding, other than, from and after the payment in full of all Obligations, contingent indemnification obligations that survive payment in full of the
Obligations for which no claims have been made. 

  
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 (ii) Any and all of the stated facts and assumptions made in any Insolvency Opinion,
including, but not limited to, any exhibits attached thereto, will have been and shall be true and correct in all material respects, and each Individual Borrower will have complied and will comply with all of the stated facts and assumptions made
with respect to it in any Insolvency Opinion in all material respects. Borrower covenants that in connection with any Additional Insolvency Opinion delivered in connection with this Agreement it shall provide an updated certification regarding
compliance with the facts and assumptions made therein if required under such Additional Insolvency Opinion or by the legal counsel providing such Additional Insolvency Opinion. 

(iii) Borrower covenants and agrees that Borrower shall provide Lender with eight (8) Business Days prior written notice prior to the
removal of an Independent Director of any Individual Borrower. 
 Section 7.2. Payment of Taxes, Lien Claims
and Utility Charges. Subject to Borrower’s right to contest as expressly provided in Section 7.3, Borrower shall pay (i) all Taxes, (ii) all Lien Claims, and (iii) all federal, state and local
income Taxes, sales Taxes, excise Taxes and all other Taxes and assessments of Borrower on its business, income or assets; in each instance before any penalty or fine is incurred with respect thereto. Borrower shall not suffer, permit or initiate
the joint assessment of any Individual Property with (a) any other real property constituting a tax lot separate from the applicable Individual Property, or (b) any portion of the applicable Individual Property which may be deemed to
constitute personal property, or any other procedure whereby the lien of any taxes which may be levied against such personal property shall be assessed or levied or charged to the applicable Individual Property. Borrower shall promptly pay for all
utility services provided to any Individual Property (or any portion thereof). 
 Section 7.3. Right to
Contest Taxes and Lien Claims. Borrower shall have the right to contest in good faith, at Borrower’s own expense, the amount or validity of any Taxes or Liens so long as the following criteria (the “Lien Contest
Criteria”) shall be satisfied as to the same: (i) no Event of Default shall have occurred and be continuing, (ii) Borrower shall contest in good faith the validity, applicability or amount of the Taxes or Lien Claim by an
appropriate legal proceeding which operates to prevent the collection of such amounts and the sale of the applicable Property, other Collateral, or any portion thereof, (iii) with respect to any such contest in which the amount at issue is
equal to or greater than $100,000 (in the aggregate of all such contested amounts), prior to the date on which such Taxes or Lien Claim would otherwise have become delinquent, Borrower shall have given Lender written notice of its intent to contest
said Taxes or Lien Claim, (iv) with respect to any such contest in which the amount at issue is equal to or greater than $100,000 (in the aggregate of all such contested amounts) prior to the date on which such Taxes or Lien Claim would
otherwise have become delinquent, Borrower either shall have complied with the Statutory Bond Criteria set forth below or shall have deposited with Lender (or with a court of competent jurisdiction or other appropriate body approved by Lender) such
additional amounts as are necessary to keep on deposit at all times, an amount equal to at least one hundred twenty five percent (125%) (or such higher amount as may be required by applicable law) of the total of the balance of such Taxes or Lien
Claim then remaining unpaid, plus all interest, penalties, costs and charges having accrued or accumulated thereon, together with such other security as may be required in the proceeding, or as may be required by Lender, to insure the payment of any
such Taxes or Claim and all interest and penalties thereon, (v) in Lender’s reasonable judgment, no risk of sale, forfeiture or loss of any interest in any Individual Property, other Collateral, or any part thereof arises during the
pendency of such contest, (vi) such contest, in Lender’s reasonable determination, is not reasonably likely to result in a Material Adverse Effect, (vii) such contest is based on bona fide, reasonable claims or defenses,
(viii) such proceeding shall be permitted under and be conducted in accordance with the provisions of any other instrument to which any Individual Borrower is subject and shall not constitute a default thereunder and such proceeding shall be
conducted in accordance 

  
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with all applicable statutes, laws and ordinances; and (ix) if available, at Lender’s request, Borrower shall have obtained such endorsements to the applicable Title Policy with respect
to such Taxes or Lien Claim as Lender may reasonably require. Any such contest shall be prosecuted with due diligence, and Borrower shall promptly pay (from the amounts deposited with Lender, if any) the amount of such Taxes or Lien Claim as finally
determined, together with all interest and penalties payable in connection therewith. Anything to the contrary notwithstanding, Lender shall have full power and authority, but no obligation, to advance funds or to apply any amount deposited with
Lender under this Section to the payment of any unpaid Taxes or Lien Claim at any time if an Event of Default shall exist, or if Lender reasonably determines that a risk of sale, forfeiture or loss of any interest in the applicable Individual
Property, other Collateral, or any part thereof is threatened. To the extent not paid from amounts deposited by Borrower pursuant to this Section 7.3, Borrower shall reimburse Lender on demand for all such advances,
together with interest thereon at the same rate that is then applicable to principal outstanding hereunder. Any surplus retained by Lender after payment of the Taxes or Lien Claim for which a deposit was made shall be promptly repaid to Borrower
unless an Event of Default shall exist, in which case said surplus may be retained by Lender to be applied to the Obligations. Notwithstanding any provision of this Section to the contrary, Borrower shall pay any Taxes or Lien Claim which it
might otherwise be entitled to contest if an Event of Default shall exist, or if, in the reasonable determination of Lender, the applicable Individual Property is in jeopardy or in danger of being forfeited or foreclosed during the pendency of such
contest. If Borrower refuses to pay any such Taxes or Lien Claim, upon five (5) Business Days’ prior written notice, Lender may (but shall not be obligated to) make such payment and Borrower shall reimburse Lender on demand for all such
advances. The “Statutory Bond Criteria” will be deemed satisfied if (x) by statute in the jurisdiction where the applicable Individual Property is located, a bond may be given as security for the particular form of Taxes
or Lien Claim in question, with the effect that the applicable Individual Property shall be forever released from any Lien securing such Taxes or Lien Claim, (y) Borrower shall cause such a bond to be issued, and Borrower shall comply with all
applicable requirements of law in all material respects such that the applicable Individual Property shall be forever released from such Lien, and (z) Borrower shall provide to Lender such evidence of the foregoing as Lender may reasonably
request. 
 Section 7.4. Maintenance of the Property. 

(A) General Maintenance Obligation. Borrower will maintain or cause to be maintained in good repair, working order and
condition all material properties used in the business of Borrower, including the Property (subject to ordinary wear and tear and the provisions of this Agreement with respect to Casualty and Condemnation), and will make or cause to be made all
appropriate repairs, renewals and replacements thereof. Borrower shall not remove, demolish or alter the Improvements or Equipment (except for alterations performed in accordance with Section 7.4(C) below, normal
replacement of Equipment with Equipment of equivalent value and functionality and disposition of obsolete or worn out personal property). Without limitation of the foregoing, Borrower will operate and maintain the Property in accordance with the
annual budget and capital expenditures budget prepared by Borrower, and during a Cash Management Period, the Approved Operating Budget and Approved Capital Expenditures Budget. Borrower shall promptly repair, replace or rebuild any part of any
Individual Property that becomes damaged, worn or dilapidated (subject to ordinary wear and tear and the provisions of this Agreement with respect to Casualty and Condemnation) and shall complete and pay for any Improvements at any time in the
process of construction or repair. 
 (B) Work Standards. All work required or permitted under this Agreement shall be
performed in a good and workmanlike manner and in compliance with all applicable laws. 

  
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 (C) Certain Capital Expenditures. Borrower shall cause all Required
Repairs to be completed within the corresponding time period for each item of work indicated in the column entitled “Completion Time Following Effective Date” in Schedule 7.4(C). 

(D) Alterations. Any Individual Borrower may, without Lender’s prior approval, perform alterations to any
Improvements or Equipment (i) that are not reasonably expected to result in a Material Adverse Effect, (ii) that are in the ordinary course of Borrower’s business, or (iii) do not constitute a Material Alteration. Lender may, as
a condition to giving its approval to any Material Alteration, require that Borrower deliver to Lender as security for the payment of such amounts and as additional security for Borrower’s obligations under the Loan Documents any of the
following: (A) cash, (B) U.S. Obligations, (C) other security reasonably acceptable to Lender (provided that Lender shall have received a Rating Agency Confirmation as to the form and issuer of same), (D) a Letter of Credit or
(E) a completion bond (provided that Lender shall have received a Rating Agency Confirmation as to the form and issuer of same). Such security shall be in an amount equal to the excess of the total unpaid amounts incurred and to be incurred
with respect to such alterations to the Improvements and Equipment over the applicable Alteration Threshold. Upon substantial completion of any Material Alteration, Borrower shall provide evidence reasonably satisfactory to Lender that (i) the
Improvements were repaired, renewed or replaced in accordance with all applicable laws and substantially in accordance with plans and specifications approved by Lender (which approval shall not be unreasonably withheld or delayed), (ii) all
contractors, subcontractors, materialmen and professionals who provided work, materials or services in connection with the repair, renewal or replacement of Improvements have been paid in full and have delivered unconditional releases of lien, and
(iii) all material licenses necessary for the use, operation and occupancy of the Improvements (other than those which depend on the performance of tenant improvement work) have been issued. If Borrower has provided cash security, as provided
above, such cash shall be released by Lender to fund such Material Alteration, and if Borrowers have provided non-cash security, as provided above, except to the extent applied by Lender to fund such Material
Alterations, Lender shall release and return such security upon Borrower’s satisfaction of the requirements of the preceding sentence. 

Section 7.5. Inspection. Borrower shall permit any authorized representatives designated by
Lender to visit and inspect any Individual Property and each Individual Borrower’s business, including its financial and accounting records, and to make copies and take extracts therefrom, and to discuss its affairs, finances and business with
its officers and independent public accountants (with such Individual Borrower’s representative(s) present), at such reasonable times during normal business hours and as often as may be reasonably requested (but not more often than one
time per calendar year (i) unless an Event of Default exists or the Loan becoming a specially serviced mortgage loan pursuant to the terms of the applicable Servicing Agreement, and (ii) except with respect to the applicable Individual
Property(ies) affected by a Casualty, Condemnation or Material Alteration). Unless Lender has reasonable concern that an Event of Default then exists, Lender shall endeavor to provide advance written notice of at least two (2) Business Days
prior to visiting or inspecting such Individual Property or such Individual Borrower’s offices. 

Section 7.6. Waste. Borrower shall not commit or knowingly permit any physical waste of the Property
or make any change in the use of the Property which will in any way materially increase the risk of fire or other natural hazard arising out of the operation of the Property, or knowingly take any action that would invalidate or give cause for
cancellation of any Policy, or do or permit (to the extent within the control of Borrower or its Affiliates control to prevent) to be done thereon anything that would materially impair the value of the Property or the security for the Loan. Borrower
will not permit any drilling or exploration for or extraction, removal, or production of any minerals from the surface or the subsurface of the Property, regardless of the depth thereof or the method of mining or extraction thereof. 

  
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 Section 7.7. Brand Covenants. Borrower shall take
reasonable steps to cause the Sponsor Affiliated Manager to use, operate and conduct business at the Property under the SmartStop Brand, provided, that if Lender exercises Lender’s right under Section 7.10(c) of this
Agreement or pursuant to the Assignment of Management Agreement to terminate or cause Borrower to terminate the Sponsor Affiliated Manager as the Property Manager for any (or all) the Property, then (a) for a
120-day period thereafter, or for a shorter period if required or approved in writing by Lender (the “Transition Period”), Borrower shall, and shall take reasonable steps to cause
Sponsor Affiliated Manager to, continue to operate the applicable Property under the SmartStop Brand while transitioning the operation of the applicable Property to a successor Brand (approved in writing by Lender, in its reasonable discretion if no
Event of Default has occurred and is continuing (which approval Lender may condition upon receipt of a Rating Agency Confirmation) and to a replacement Property Manager managing the applicable Property under such successor Brand in accordance with
the requirements of Section 7.10, and (b) Borrower shall reasonably cooperate and shall take reasonable steps to cause the Sponsor Affiliated Manager to cooperate in all material respects in the transition of the Brand
to the successor Brand, and the transition of the management of the applicable Property to the replacement Property Manager, including using commercially reasonable efforts to cause Sponsor Affiliate Manager to comply with the provisions of the
Transition Cooperation. Notwithstanding the provisions of Section 7.10 that would otherwise permit the Borrower to replace the Property Manager upon satisfaction of the requirements of
Section 7.10, Borrower shall not terminate or replace Sponsor Affiliated Manager, or suffer or permit Sponsor Affiliated Manager to terminate or fail to renew any Management Agreement with Sponsor Affiliated Manager, or
replace the SmartStop Brand with any other Brand, without (i) Lender’s prior written approval in its reasonable discretion (which approval Lender may condition upon receipt of a Rating Agency Confirmation) of such termination or
replacement of Sponsor Affiliated Manager and the proposed successor Brand, and (ii) engaging a replacement Property Manager in accordance with the provisions of Section 7.10 and satisfying the requirements of the
provisions of Section 7.10. If Lender so approves such termination and replacement of the Affiliated Property Manager and operation of the Property under a successor Brand approved by Lender, then (x) during the
Transition Period Borrower shall, and shall take reasonable steps to cause Sponsor Affiliated Manager to, continue to operate the applicable Property under the SmartStop Brand while transitioning the operation of the applicable Property to such
successor Brand, (y) Borrower shall take reasonable steps to cause the Sponsor Affiliated Manager to cooperate in all material respects in the transition of the Brand to the successor Brand, and the transition of the management of the
applicable Property to the replacement Property Manager, including using commercially reasonable efforts to cause Sponsor Affiliated Manager to comply with the provisions of the Transition Cooperation, and (z) Borrower shall take reasonable
steps to enforce the obligations of the replacement Property Manager under the replacement Management Agreement to operate the applicable Property under such successor Brand. 

Section 7.8. Maintenance of Franchises and Licenses; Compliance with Laws and Contractual
Obligations. Borrower shall (i) comply in all material respects with all Legal Requirements, (ii) maintain all material licenses held by Borrower, (iii) maintain in good standing and in full force and effect all
entitlements and rights appurtenant to each Individual Property, and comply in all material respects with all conditions to maintenance of the same, (iv) maintain in good standing and in full force and effect in all material respects all
licenses, franchises, liquor licenses (if applicable) and permits now held or hereafter acquired by any Individual Borrower, and (v) duly and punctually perform, observe, comply and fulfill in all material respects all of its obligations,
covenants and conditions contained in any Material Contract. Borrower shall give prompt notice to Lender of the receipt by Borrower of any written notice received by Borrower related to a violation of any Legal Requirements or of the commencement of
any proceedings or investigations which relate to compliance with Legal Requirements. Borrower shall not and shall not permit any other Person in occupancy of or involved with the operation or use of the Property to commit any act or omission
affording the federal government or any state or local government the right of forfeiture as against the Property or any part thereof or any monies paid in performance of Borrower’s obligations under this Agreement, the Note, the Security
Instruments or the other Loan Documents. 

  
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 Section 7.9. Leases. 

(A) Lender’s Approval of Leases, Modifications. Any Material Lease executed after the
date hereof shall comply with the conditions set forth in Section 7.9(B)(iv) through and including (vii) below. All Material Leases executed after the date hereof, and any amendments or modifications thereto or
terminations thereof (except commercially reasonable termination in the case of material default by the Tenant thereunder beyond applicable cure periods) shall require the prior written consent of Lender, which consent shall not be unreasonably
withheld, conditioned or delayed. Upon written request, Borrower shall furnish Lender with true, correct and complete executed copies of all Leases, amendments thereof and any related agreements in all material respects. All renewals of Leases and
all proposed Leases shall comply with the criteria set forth in Section 7.9(B). All proposed Leases shall be on commercially reasonable market rate terms and shall not contain any terms which would materially affect
Lender’s rights under the Loan Documents. All Leases executed after the date hereof shall provide that they are subordinate to the applicable Security Instrument and the Lien created thereby (or contain a generic subordination to any security
instrument and the lien created thereby which shall include the Security Instrument) and that the Tenant thereunder agrees to attorn to Lender or any purchaser at a sale by foreclosure or power of sale. Borrower (a) shall observe and perform
the obligations imposed upon the lessor under the Leases in all material respects; (b) shall enforce the terms, covenants and conditions contained in the Leases in all material respects upon the part of the Tenant thereunder to be observed or
performed in a commercially reasonable manner and in a manner not to impair the value of the applicable Individual Property involved; (c) shall not collect more than five percent (5%) of the Rents from any Individual Property more than one
(1) month in advance (other than security deposits required pursuant to the applicable Leases); (d) shall not execute any assignment of lessor’s interest in the Leases or the Rents (except as contemplated by the Loan Documents); (e) shall
not alter, modify or change the terms of the Leases in a manner inconsistent with the provisions of the Loan Documents; and (f) shall execute and deliver at the request of Lender all such further assurances, confirmations and assignments in
connection with the Leases as Lender shall from time to time reasonably require. Notwithstanding anything to the contrary contained herein, Borrower shall not enter into a Lease of all or substantially all of the Property or of any Individual
Property (or a ground lease of any portion of the Property or any Individual Property) without Lender’s prior written consent. 

(B) Criteria for Permitted Leases. Lender’s consent shall not be required as provided above for the creation or
modification of a Lease that is not a Material Lease provided that the action is commercially reasonable, and that the applicable Lease satisfies the following criteria: 

(i) is on a standard lease form pre-approved by Lender in Lender’s reasonable discretion, without
any modifications that (a) materially change the financial terms of such standard lease form, (b) materially reduce the rights and remedies of Borrower or Lender under such standard lease form, or (c) are not customary and reasonable
in the market area; 
 (ii) has a term, inclusive of extension options, of less than 5 years; 

(iii) is at rental rates and rental concessions made in the ordinary course of business (and consistent with the then prevailing business
conditions for self-storage for the market in which the Individual Property is located); 
 (iv) represents a bona fide arm’s length
transaction; 

  
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 (v) does not permit any use which would violate any provision of any existing Lease; 

(vi) contains no right or option to purchase (including without limitation, any right of first refusal, right of first offer, or similar
right) all or any portion of any Individual Property; and 
 (vii) complies with all other requirements of Leases set forth in this Section.

 (C) General Covenants Regarding Leases. Borrower (i) shall not do or permit to be done anything to impair the
value in any material respect of the Leases as security for the Obligations; and (ii) shall promptly send copies to Lender of all notices of an event of default which Borrower shall send or receive under any Material Leases. 

(D) Security Deposits. Borrower shall hold all Security Deposits in a separate account, not commingled with any assets of
Borrower, Property Manager, or any other Person, except that Security Deposits for each Individual Property may be commingled with each other. If any Security Deposit is given in the form of a letter of credit, bond or other non-cash instrument, then (i) the same shall be issued by an institution reasonably satisfactory to Lender, and (ii) unless prohibited by law, the same shall name Lender as payee, or at Lender’s
option, shall be fully assignable to Lender, and (iii) the same otherwise in all respects shall be reasonably satisfactory to Lender, and (iv) Borrower shall maintain the same in full force and effect, to the extent of its right to do so.
Following the occurrence and during the continuance of any Event of Default, upon Lender’s request, Borrower shall deliver all Security Deposits (and any interest theretofore earned thereon) to Lender, to be held by Lender subject to the terms
of the Leases. Also, upon Lender’s written request (but not more often than one time per calendar year unless an Event of Default exists), Borrower shall provide Lender with evidence reasonably satisfactory to Lender of Borrower’s
compliance with the foregoing and with all requirements of law pertaining to the Security Deposits. 
 (E) Deemed Approval
Requirements. If the Deemed Approval Requirements set forth herein are fully satisfied in connection with Borrower’s request for Lender’s approval with respect to a leasing matter pursuant to this
Section 7.9, Lender’s approval shall be deemed given with respect to such matter. 

Section 7.10. Management. (a) Unless waived by Lender in writing, which waiver may
be withheld in Lender’s sole discretion, the Property Manager shall be a Qualified Manager. Borrower shall: (i) promptly perform or observe, in all material respects, all of the covenants and agreements required to be performed and
observed by any Individual Borrower under each Management Agreement and do all things reasonably necessary to preserve and to keep unimpaired such Individual Borrower’s rights thereunder; (ii) promptly notify Lender of any material default
under any Management Agreement of which it is aware; and (iii) enforce the performance and observance of all of the covenants and agreements required to be performed or observed by each Property Manager under each Management Agreement, in a
commercially reasonable manner. 
 (b) Without Lender’s prior written consent (which shall not be unreasonably withheld, conditioned or
delayed, with approval Lender may condition upon receipt of a Rating Agency Confirmation), Borrower shall not (i) enter into, surrender or terminate any Management Agreement, (ii) amend or modify any Management Agreement to increase the
management fees or any other material fees or charges under any Management Agreement, or otherwise make material amendments or modifications to any Management Agreement, or (iii) permit any change in Control of any Affiliated Manager (provided
that a change of Control of an Affiliated Manager shall not be deemed to have occurred if such Property Manager remains an Affiliated Manager, including following a Self Administration Transaction), or otherwise retain the services of any other
property management company. Without limitation of the foregoing, each Management Agreement shall provide that such Management Agreement shall be terminable at Borrower’s option upon 60 days prior notice without penalty or premium. 

  
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 (c) Lender shall have the right (x) to require Borrower to terminate any Management
Agreement for an Individual Property (or, if applicable, for one or more Individual Properties) and replace such Property Manager with a Qualified Manager that is not an Affiliated Manager and (y) solely in the case of clause (i) below,
terminate any Management Agreement and replace Property Manager with another property manager chosen by Lender in its sole discretion, upon the occurrence of any one or more of the following events: (i) an Event of Default shall occur and be
continuing (in which event Lender may terminate, or require termination of, any or all Management Agreements, as determined from time to time by Lender), (ii) a change in Control of any Affiliated Property Manager occurs with respect to any
Individual Property managed by it (provided that a change of Control of an Affiliated Manager shall not be deemed to have occurred if such Property Manager remains an Affiliated Manager, including following a Self Administration Transaction), (iii)
Property Manager shall be in material default under the applicable Management Agreement beyond any applicable notice and cure period, (iv) upon the gross negligence, malfeasance or willful misconduct of Property Manager with respect to the
applicable Management Agreement or Individual Property, or (v) upon the bankruptcy or insolvency of the Property Manager. 
 (d)
Borrower shall execute and cause each replacement Property Manager to execute and deliver an assignment and subordination agreement reasonably satisfactory to Lender at the time of execution and delivery of any Management Agreement. Any action or
inaction of Property Manager within the scope of the rights and obligations of Borrower that are delegated to Property Manager under the Management Agreement shall be deemed attributed to Borrower for purposes of determining compliance with or
default under this Agreement and the other Loan Documents. 
 (e) Borrower shall, from time to time (but no more than once in any twelve
month period unless an Event of Default shall have occurred and be continuing), use commercially reasonable efforts to obtain from Property Manager under any Management Agreement such certificates of estoppel with respect to compliance by Borrower
with the terms of such Management Agreement as may be reasonably requested in writing by Lender (on its own behalf or on behalf of any Lender). 

(f) During the continuance of an Event of Default under the Loan Documents, without limiting the generality of the other provisions of this
Agreement, and without waiving or releasing Borrower from any of its obligations hereunder, Lender shall have the right, but shall be under no obligation, to pay any sums and to perform any act or take any action reasonably necessary to cause all
the terms, covenants and conditions of each Management Agreement on the part of Borrower to be performed or observed to be promptly performed or observed on behalf of Borrower, to the end that the rights of Borrower in, to and under each Management
Agreement shall be kept unimpaired and free from default. Upon prior written notice to Borrower, Lender and any Person designated by Lender shall have, and are hereby granted, the right to enter upon the Property during the continuance of an Event
of Default for the purpose of taking any such action. If Property Manager shall deliver to Lender a copy of any notice sent to Borrower of default under any Management Agreement, such notice shall constitute full protection to Lender for any action
taken or omitted to be taken by Lender in reliance thereon. Borrower shall not permit Property Manager to sub-contract to a third party any or all of its managerial responsibilities under any Management
Agreement, provided, that Property Manager may sub-contract to a Qualified Manager the managerial responsibilities of Property Manager under a Management Agreement pursuant to a sub-management agreement, provided, that (1) the fees and charges payable under any such sub-management agreement do not exceed the management fees and
charges payable to Property Manager under such Management Agreement and are the sole obligation of Property Manager, (2) any sub-management agreement terminates in the event of a termination of the
related Management Agreement, and (3) Borrower shall not have any obligations or liabilities under any such sub-management agreement. 

  
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 (g) Any reasonable
out-of-pocket costs expended by Lender pursuant to this Section 7.10 shall be due and payable by Borrower to Lender (i) immediately upon
incurrence thereof if an Event of Default exists and is continuing, and bear interest at the Default Rate, and (ii) otherwise shall be due and payable within ten (10) Business Days after Lender’s written demand therefor, and if not
paid within such ten (10) Business Day period shall bear interest at the Default Rate, and in each case shall be deemed to constitute a portion of the Obligations and shall be secured by the liens of the Security Instruments and the other Loan
Documents. 
 Section 7.11. Performance of Agreements; Material Contracts. 

(A) Each Borrower Party shall duly and punctually perform, observe and comply in all material respects with all of the terms,
provisions, conditions, covenants and agreements on its part to be performed, observed and complied with hereunder and under the other Loan Documents to which it is a party, and, in addition, Borrower shall observe and perform in all material
respects with all terms, provisions, conditions, covenants and agreements on its part to be performed, observed and complied with pursuant to the terms of any other agreement or other Contractual Obligation binding upon Borrower to the extent the
failure to observe and perform the same would have a Material Adverse Effect. 
 (B) Except for Leases complying with the Loan
Documents and Management Agreement complying with the foregoing Section 7.10, (i) Borrower shall not enter into or become obligated under any Material Contract that would be binding on successors in ownership of any
Individual Property or the Collateral or any other material agreement pertaining to any Individual Property or the Collateral, including without limitation brokerage agreements, unless the same may be terminated without cause and without payment of
a penalty or premium, on not more than sixty (60) days’ prior written notice, and (ii) Borrower represents that all such Material Contracts that presently exist are so terminable without payment of a penalty or premium, on not more
than sixty (60) days’ prior written notice (excluding, with respect to the foregoing clauses (i) and (ii), elevator service contracts entered into in the ordinary course of business at the applicable Individual Properties). 

Section 7.12. Estoppels. 

(A) Within ten (10 Business Days following a written request by Lender (but not more frequently than one time per calendar year after a
Securitization unless an Event of Default exists), Borrower shall provide to Lender a duly acknowledged written statement confirming (i) the amount of the outstanding principal balance of the Loan, (ii) the terms of payment and maturity
date of the Loan, (iii) the date to which interest has been paid, (iv) whether any claims, offsets or defenses exist against Lender or affecting any of the Obligations, and if any such claims, offsets or defenses are alleged to exist, the
nature thereof shall be specified and all material information pertaining to the same shall be set forth in detail, and (v) that this Agreement, the Note, the Security Instrument and the other Loan Documents are valid, legal and binding
obligations of Borrower and have not been modified or amended, or, if modified or amended, giving particulars of any such modification or amendment. 

(B) Within twenty-five (25) days following request by Lender given not more than once per calendar year (or twice per calendar year
prior to a Securitization), Borrower shall use commercially reasonable efforts to deliver to Lender estoppel certificates from Tenants under the Material Leases and/or guarantors of the Material Leases, each in form and substance reasonably
satisfactory to Lender. 

  
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 Section 7.13. Indebtedness. So long as the
Loan is outstanding, Borrower will not directly or indirectly create, incur, assume, guaranty, or otherwise become or remain directly or indirectly liable with respect to any Indebtedness except (the following, the “Permitted
Indebtedness”): 
 (A) the Obligations; and 

(B) (i) unsecured trade payables not evidenced by a note and arising out of purchases of goods or services in connection with
Alterations, Capital Expenditures and Restorations each as permitted under this Agreement, and (ii) unsecured trade payables not evidenced by a note and arising out of purchases of goods or services in the ordinary course of business and
operation of an Individual Property. and (iii) Indebtedness incurred in the lease or financing of equipment or other personal property used at an Individual Property in the ordinary course of business that is secured only by the financed
equipment or personal property, in an amount not to exceed $20,000.00 for any Individual Property or $250,000 in the aggregate; provided that with respect to clauses (ii) and (iii) above, (a) each such trade payable is payable not later
than sixty (60) days after the original invoice date and is paid on or before the date when due, and (b) the aggregate amount of such trade payables and Indebtedness relating to the lease and financing of equipment and personal property
referred to in clause (iii) above outstanding does not, at any time, exceed more than two percent (2%) of the Allocated Loan Amount for the applicable Individual Property or more than two percent (2%) of the original principal balance of the
Loan (less the aggregate of the Allocated Loan Amounts of Release Properties) in the aggregate across all of the Property. In no event shall any Indebtedness other than the Loan be secured, in whole or in part, by the Property or any portion thereof
or any interest therein. 
 Section 7.14. Debt Cancellation. No Individual Borrower
shall cancel or otherwise forgive or release any claim or debt (other than the termination of Leases in accordance herewith) owed to such Individual Borrower by any Person, except for adequate consideration and in the ordinary course of such
Individual Borrower’s business. 
 Section 7.15. Liens, Negative Pledges. So long as the Loan
is outstanding, Borrower shall not directly or indirectly create, incur, assume or permit to exist any Lien on or with respect to any Collateral, except Permitted Encumbrances. Without limitation, so long as the Loan is outstanding, no Individual
Borrower shall (a) directly or indirectly create, incur, assume or permit to exist any Lien on or with respect to any property or asset (including any document or instrument with respect to goods or accounts receivable) of any Individual
Borrower, whether now owned or hereafter acquired, or any income or profits therefrom, except Permitted Encumbrances, or (b) enter into or assume any agreement (other than the Loan Documents) prohibiting the creation or assumption of any Lien
upon its properties or assets, whether now owned or hereafter acquired. This Section is in addition to and not in limitation of Article XI herein. 

Section 7.16. Grants of Rights, Easements; Recorded Documents. Except as expressly provided herein,
without the prior written consent of Lender, which may be withheld in Lender’s sole discretion, Borrower shall not (i) grant any easement or other similar right in any Individual Property or any portion thereof, (ii) make application
for, initiate, consent to or take any action to effect any change to any zoning classification or any entitlements of any Individual Property or to seek any variance under any zoning ordinance, or use or permit the use of any portion of any
Individual Property in any manner that could reasonably be expected to result in such use becoming a non-conforming use under any zoning ordinance or any other applicable land use law, rule or regulation,
provided, however, that any use of any Individual Property that constitutes a legal nonconforming use shall not constitute a breach of this Section 7.16, (iii) make any application for or record any tract map, parcel map, condominium plan,
condominium declaration, or plat of subdivision, or (iv) otherwise record any documents or instruments affecting title to any Individual Property 

  
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 Section 7.17. Restriction on Fundamental Changes.
Except as otherwise expressly permitted under this Agreement: 
 (A) No Individual Borrower shall, or shall permit any other
Person to, (i) amend, modify or waive any term or provision of such Individual Borrower’s certificate of formation, limited liability company agreement, operating agreement or other organizational documents; or (ii) liquidate, wind-up or dissolve such Individual Borrower. 
 (B) No Individual Borrower shall, nor permit or
suffer any other Person on its behalf to, (i) issue, sell, assign, pledge, convey, dispose or otherwise encumber any stock, membership interest, partnership interest, or other equity or beneficial interest in such Individual Borrower; or
(ii) grant any options, warrants, purchase rights or other similar agreements or understandings with respect thereto, in each case except to the extent the same can be issued, sold, assigned, pledged, conveyed, disposed of, otherwise encumbered
or granted in compliance with Article XI (including, without limitation, after giving effect to the completion of any transactions contemplated by such granting). 

(C) No Individual Borrower shall acquire by purchase or otherwise all or any part of the stock or other evidence of beneficial ownership
of, any Person. 
 (D) No Individual Borrower shall change (or permit to be changed) any Individual Borrower’s name, and each
Individual Borrower shall at all times continue be a Delaware limited liability company. 
 Section 7.18.
Restrictions on Changes of Use. Borrower shall not (i) change the use of any Individual Property from the “Permitted Use” identified on the Information Schedule and uses ancillary or incidental thereto permitted under
applicable law or (ii) initiate, join in, acquiesce in, or consent to any change in any private restrictive covenant, zoning law or other public or private restriction, limiting or defining the uses which may be made of the Individual Property
or any part thereof. If under applicable zoning provisions the use of all or any portion of any Individual Property is or shall become a nonconforming use, Borrower will not cause or permit the nonconforming use to be discontinued or the
nonconforming Improvement to be abandoned without the consent of Lender. 
 Section 7.19. Transactions with
Related Persons. Except as contemplated by the Management Agreement (and subject to the Assignment of the Management Agreement), Borrower is not and shall not become contractually obligated to pay any development, management, brokerage,
consulting, director or similar fees to any Related Person of any Borrower or to any director or manager, officer or employee of any Borrower. No Individual Borrower shall directly or indirectly enter into or permit to exist any transaction in which
it is party (including the purchase, sale, lease or exchange of any property or the rendering of any service) with any Related Person of any Borrower or with any director, officer or employee of any Borrower Party, except transactions in the
ordinary course of and pursuant to the reasonable requirements of the business of Borrower and upon fair and reasonable terms which are fully disclosed in writing to and approved by Lender prior to consummation, and are no less favorable to Borrower
than would be obtained in a comparable arm’s length transaction with a Person that is not an Related Person of Borrower; provided that the parties agree that the Management Agreement (subject to the Assignment of the Management Agreement) does
not violate the covenants of this Section 7.19. Except for the Management Agreement (subject to the Assignment of the Management Agreement), each transaction entered into by Borrower with any Related Person of Borrower
shall be evidenced by a written agreement that (i) shall not be secured, (ii) shall provide that such agreement shall be terminable by Borrower without penalty or premium on thirty (30) days’ notice, (iii) shall provide that
all rights of the Related Person thereunder (including its rights to receive payment of any kind) shall be subordinate in all respects to the 

  
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rights of Lender to receive payment of the Obligations and to all other rights of Lender under the Loan Documents, and (iv) shall provide that no payment may be made to the Related Person
thereunder when or as to any time when an Event of Default shall exist. Except pursuant to the Management Agreement (subject to the Assignment of the Management Agreement), Borrower shall not make any payment or distribution to any Related Person of
Borrower when or as to any time when any Event of Default shall exist and, at Lender’s request, Borrower shall terminate any agreement with any Related Person at any time when an Event of Default shall exist. 

Section 7.20. ERISA. 

(A) Borrower shall not engage in any transaction which would cause any obligation, or action taken or to be taken, hereunder (or the
exercise by Lender of any of its rights hereunder or under the other Loan Documents) to be a non-exempt prohibited transaction under ERISA. 

(B) Borrower further covenants and agrees to deliver to Lender such certifications or other evidence from time to time throughout the
term of the Loan, as requested by Lender, that (i) each Individual Borrower is not an “employee benefit plan” as defined in Section 3(3) of ERISA, or other retirement arrangement, which is subject to Title I of ERISA or
Section 4975 of the IRC, or a “governmental plan” within the meaning of Section 3(32) of ERISA; (ii) transactions with each Individual Borrower under this Agreement and the other Loan Documents are not subject to state
statutes regulating investments and fiduciary obligations with respect to governmental plans; and (iii) one or more of the following circumstances is true: 

(i) Equity interests in each Individual Borrower are publicly offered securities, within the meaning of 29 C.F.R. § 2510.3 101(b)(2);

 (ii) Less than twenty-five percent (25%) of each outstanding class of equity interests in each Individual Borrower are held by
“benefit plan investors” within the meaning of 29 C.F.R.§ 2510.3 101(f)(2); or 
 (iii) Each Individual Borrower qualifies as
an “operating company” or a “real estate operating company” within the meaning of 29 C.F.R § 2510.3 101(c) or (e) or an investment company registered under The Investment Company Act of 1940, as amended. 

(C) The representation and warranties of Borrower set forth in Section 4.14(A) shall continue to be and remain
true and correct at all times from and after the Closing until the earlier of (x) the repayment in full of the Obligations or (y) with respect to any Individual Property, the foreclosure of such Individual Property or the date such
Individual Property becomes a Release Property. 
 Section 7.21. Further Assurances. Upon the
written request of Lender and at the expense of Borrower, Borrower shall (and shall cause Borrower Parties to) (i) furnish to Lender all instruments, documents, boundary surveys, footing or foundation surveys, certificates, plans and
specifications, appraisals, title and other insurance reports and agreements, and each and every other document, certificate, agreement and instrument in Borrower’s possession or reasonably obtainable by Borrower and reasonably requested by
Lender in connection with the Loan; and (ii) promptly correct any defect, error or omission which is discovered in the contents of this Agreement or in any of the other Loan Documents and promptly execute, acknowledge, deliver and record or
file such further instruments and do such further acts as would be reasonably necessary, desirable or proper to carry out more effectively the purposes of this Agreement and the other Loan Documents or as may be deemed reasonably advisable by Lender
to protect, continue or preserve the liens and security interests under the Loan Documents, including without limitation, security instruments, financing statements and continuation statements. 

  
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 Section 7.22. Use of Proceeds and Margin
Security. Borrower Parties shall use the proceeds of the Loan only for the purposes set forth herein and consistent with all applicable laws, statutes, rules and regulations. No portion of the proceeds of the Loan shall be used in any
manner that might cause the borrowing or the application of such proceeds to violate Regulation T, Regulation U or Regulation X or any other regulation of the Board of Governors of the Federal Reserve System. 

Section 7.23. Anti-Money Laundering and Economic Sanctions. Borrower shall (and shall cause each
Borrower Party and their respective Affiliates to) (a) at all times comply with the representations and covenants contained in Section 4.23 such that the same remain true, correct and not violated or breached. Borrower
covenants that no Borrower Party, or, to Borrower’s knowledge, any of their directors, officers, or employees or agents: (x) knowingly conduct any business, or engage in any transaction or dealing, with any Sanctioned Person (including,
but not limited to, the making or receiving of any contribution of funds, goods, or services, to or for the benefit of a Sanctioned Person) in any manner that would result in a violation of any Sanctions by any Person,; or (y) 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 Sanctions or any other prohibitions set forth in the Patriot Act, AC Laws and/or AML Laws. On request by Lender from
time to time, Borrower further covenants and agrees promptly to deliver to Lender any such certification or other evidence as may be reasonably requested by Lender in its sole and absolute discretion, confirming that (i) none of the Borrower
Parties, and, to Borrower’s knowledge, none of their respective officers, directors, partners, or Affiliates is a Sanctioned Person; and (ii) none of the Borrower Parties, and none of their respective officers, directors, or to
Borrower’s knowledge, partners or Affiliates has engaged in any business, transaction or dealings with a Sanctioned Person (including, but not limited to, the making or receiving of any contribution of funds, goods, or services, to or for the
benefit of a Sanctioned Person) in any manner that would result in a violation of any Sanctions by any Person. 

Section 7.24. Adverse Proceedings. Borrower shall cooperate fully with Lender with respect to
any proceedings before any court, board or other Governmental Authority which Lender reasonably believes would affect the rights of Lender hereunder or any rights obtained by Lender under any of the Note, the Security Instruments or the other Loan
Documents and, in connection therewith, use commercially reasonable efforts to permit Lender, at its election, to participate in any such proceedings. 

Section 7.25. Lender’s Expenses. Borrower shall pay, within
five (5) Business Days after written demand by Lender, all reasonable expenses, charges, costs and fees (including reasonable attorneys’ fees and expenses) actually incurred by Lender in connection with the negotiation, documentation,
closing, administration, servicing, enforcement, interpretation, and collection of the Loan and the Loan Documents, and in the preservation and protection of Lender’s rights hereunder and thereunder. Without limitation of the foregoing,
Borrower shall pay all costs and expenses, including reasonable attorneys’ fees, actually incurred by Lender in any case or proceeding under Title 11 of the United States Code (or any law succeeding or replacing any of the same). At the
Closing, Lender is authorized to pay directly from the proceeds of the Loan any or all of the foregoing expenses then or theretofore incurred. 

Section 7.26. Property Document Covenants. Without limiting the other provisions of this Agreement and
the other Loan Documents, Borrower shall (i) promptly perform and/or observe, in all material respects, all of the covenants and agreements required to be performed and observed by it under the Property Documents and do all things reasonably
necessary to preserve and to keep unimpaired its material rights thereunder; (ii) promptly notify Lender of any material default under the Property Documents of which it is aware by any party thereto; (iii) not, without the prior written
consent of Lender 

  
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(which consent shall not be unreasonably withheld or delayed), (A) enter into any new Property Document or replace or execute any material modifications to any existing Property Documents or
renew or extend the same (exclusive of, in each case, any automatic renewal or extension in accordance with its terms), (B) surrender, terminate or cancel the Property Documents, (C) materially reduce or consent to the material reduction
of the term of the Property Documents, (D) materially increase or consent to the material increase of the amount of any charges to Borrower under the Property Documents, or (E) following the occurrence and during the continuance of an
Event of Default, exercise any rights, make any decisions, grant any approvals or otherwise take any action under the Property Documents 

Section 7.27. Environmental Covenants. 

(A) Borrower shall promptly, and in any event within sixty (60) days after the Closing Date, cause an operations and maintenance
plan with respect to asbestos containing materials, and, in addition, with respect to the 5200 Coliseum Way Individual Property, a lead-based paint operations and maintenance plan (an “O&M Plan”) to be prepared and
implemented at Borrower’s expense at each of the Individual Properties set forth Schedule 7.27 hereof and to continue to maintain the existing O&M Plans at the other Individual Properties for which an Environmental Report recommends
an O&M Plan be implemented. Borrower covenants and agrees to continue to maintain all O&M Plans and diligently comply with the recommendations and requirements of each O&M Plan. 

(B) With respect to the Individual Property located at 5200 Coliseum Way, Oakland California (the “5200 Coliseum Way
Individual Property”), Borrower, at Borrower’s expense, shall (i) maintain the existing engineered soil cap (including maintaining building foundations and paved ground cover) and (ii) comply with restrictions and
covenants contained in the Covenant and Environmental Restriction on Property, dated as of April 12, 2002 and recorded in the Official Records of Alameda County on April 22, 2002 as document number 2002178026. 

(C) With respect to the Individual Property located at 1111 W. Gladstone Street, Azusa, California (the “1111 W. Gladstone
Street Individual Property”), Borrower shall, at Borrower’s expense, conduct interior methane gas testing at the 1111 W. Gladstone Street Individual Property each calendar quarter as recommended by that certain Phase I
Environmental Site Assessment Report (Project #18-37855.01), prepared by Global Realty Services Group, dated as of December 10, 2018 (the “Gladstone Environmental Report”). Upon
written request of Lender, Borrower will promptly provide evidence reasonably acceptable to Lender of compliance with the foregoing. Borrower shall promptly notify Lender if any such testing recommends any remediation or discloses elevated levels of
methane gas at the 1111 W. Gladstone Street Individual Property in which remedial action would be required or recommended under Environmental Laws. 

(D) Borrower shall promptly, and in any event within sixty (60) days after the Closing Date, conduct radon testing with respect to
the ground floor residential unit, at Borrower’s expense, at the Individual Property located at 1001 Toll Gate Road, Elgin, Illinois (the “1001 Toll Gate Road Individual Property”). Upon written request of Lender,
Borrower will promptly provide evidence reasonably acceptable to Lender of compliance with the foregoing. Borrower shall promptly notify Lender if any such testing recommends any remediation or discloses elevated levels of radon gas at the 1001 Toll
Gate Road Individual Property in which remedial action would be required or recommended under Environmental Laws. 

  
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 ARTICLE VIII 

RESERVES 

Section 8.1. Taxes and Insurance Reserve. Borrower shall deposit into a reserve with Lender (the
“Taxes and Insurance Reserve”), monthly, on each Payment Date, 1/12th of the annual charges (as reasonably estimated by Lender, based on actual tax records and reasonably anticipated increases in Taxes) for all Taxes relating
to the Property, all premiums for the environmental insurance policies relating to the Property, if applicable, and, if requested in writing by Lender, all other Insurance Premiums with respect to the Property (said funds, together with additions
thereto, the “Taxes and Insurance Reserve Funds”). The amounts to be deposited by Borrower into the Taxes and Insurance Reserve on the date hereof are set forth on Schedule 8.1 hereto. Borrower shall also deposit with
Lender, within ten (10) Business Days of written demand, to be added to and included within the Taxes and Insurance Reserve, a sum of money which Lender reasonably estimates, together with such monthly deposits, will be sufficient to make the
payment of each such charge at least thirty (30) days prior to the date the same would be initially delinquent if not paid. Upon written request by Lender, Borrower shall provide Lender with bills and all other documents reasonably necessary
for the payment of the foregoing charges at least thirty (30) days prior to the date on which each payment shall first become delinquent. Lender shall pay said items or disburse to Borrower from the Taxes and Insurance Reserve an amount
sufficient to pay said items, provided that (i) no Default has occurred and is continuing without cure (other than a Default that will be cured by the subject payment from the Taxes and Insurance Reserve), (ii) Borrower shall have provided
Lender with the foregoing bills and other documents in a timely manner, (iii) sufficient funds are held by Lender in the Taxes and Insurance Reserve for the payment of the Taxes and Insurance Premiums relating to the Property, as applicable,
and (iv) the Reserve Disbursement Conditions shall have been satisfied. Anything to the contrary herein or elsewhere notwithstanding, no interest or other investment earnings shall be paid to Borrower on funds in the Taxes and Insurance
Reserve. 
 Notwithstanding the foregoing, Borrower’s obligation to make the monthly deposits for Insurance Premiums required above
shall be suspended provided that the following conditions remain satisfied: (A) no Event of Default then exists; (B) Borrower or an Affiliate thereof maintains a blanket insurance policy that provides the coverages required by Article
VI of this Agreement with respect to the Property, that covers substantially all self-storage properties managed directly or indirectly by Sponsor and that otherwise satisfies the requirements for a blanket insurance policy set forth in
Section 6.1(G); and (C) Borrower delivers to Lender evidence, reasonably satisfactory to Lender, that such blanket insurance policy is in full force and effect at least thirty (30) days prior to the date on which
such policy is scheduled to expire, and that the premium due for such blanket insurance policy has been paid not less than thirty (30) days thereafter. If at any time any one of the foregoing conditions are not satisfied, Borrower shall, within
ten (10) Business Days after Lender’s written demand, deposit with Lender immediately available funds in the amount determined by Lender to be sufficient (together with projected monthly deposits) to pay such Insurance Premiums at least
thirty (30) days prior to the date the same would be delinquent if not paid, and commence making monthly deposits for on the immediately following Payment Date in the amounts described above. 

Section 8.2. Replacement Reserve. Borrower shall deposit into a reserve with Lender (the
“Replacement Reserve”) on the Closing date the amount shown on Schedule 8.1 hereto, and thereafter, monthly on each Payment Date, the monthly amounts designated as monthly amounts on Schedule 8.1 hereto
for the purposes set forth in this Section (said funds, together with any additions thereto, the “Replacement Reserve Funds”). Funds contained in the Replacement Reserve shall be utilized by Borrower solely for Capital
Expenditures performed during the term of the Loan in accordance with the capital expenditures budget prepared by Borrower, and during a Cash Management Period, the Approved Capital Expenditures Budget, and shall not be used by Borrower for purposes
for which any other Reserve is established. Lender from time to time may reasonably reassess its estimate of the amount necessary for 

  
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the Replacement Reserve, in which case the monthly amount payable by Borrower to Lender for deposit into the Replacement Reserve shall change in accordance with such estimate on thirty
(30) days’ written notice to Borrower. Upon written application, Borrower shall be entitled to draw upon the Replacement Reserve to pay for the costs for which the Replacement Reserve has been established after such costs shall have been
incurred by Borrower and invoiced, provided that the Reserve Disbursement Conditions shall have been satisfied. 
 Section 8.3.
Intentionally Omitted. 
 Section 8.4. Deferred Maintenance Reserve. At Closing,
Borrower shall deposit into a reserve with Lender (the “Deferred Maintenance Reserve”) the amount shown on Schedule 8.1 hereto for the purposes set forth in this Section (said funds, together with any additions
thereto, the “Deferred Maintenance Reserve Funds”). Funds contained in the Deferred Maintenance Reserve shall be used by Borrower solely for the work described in the Schedule 7.4(C) attached hereto
(“Required Repairs”), and shall not be used by Borrower for purposes for which any other Reserve is established. In the event that the funds available from the Deferred Maintenance Reserve are insufficient to pay for the
Required Repairs, Borrower shall pay the amount of such deficiency. Upon written application of Borrower, Borrower shall be entitled to draw upon the Deferred Maintenance Reserve to pay for the costs of such Required Repairs after such costs shall
have been incurred by Borrower and invoiced, provided that (i) the Reserve Disbursement Conditions below shall have been satisfied, and (ii) where Schedule 7.4(C) identifies a specific dollar amount to a specific work item, no funds
shall be drawn from the Deferred Maintenance Reserve for such item in excess of the specified dollar amount unless Borrower shall demonstrate to Lender’s reasonable satisfaction that the additional funds are available from savings from another
Required Repairs item that has been completed. Provided that Borrower is not otherwise precluded from making distributions pursuant to the Loan Documents, Borrower shall be entitled to draw any remaining balance in the Deferred Maintenance Reserve
when all of the Required Repairs have been completed and paid for and all lien waivers have been obtained, in each case to the reasonable satisfaction of Lender. 

Section 8.5. Testing; Environmental Remediation Reserve. Borrower shall, at Borrower’s
cost and expense, including payment to Lender, within ten (10) Business Days of Lender’s written notice, the reasonable out-of-pocket costs and expense of
Lender and its environmental consultant, (a) proceed with and complete the well water testing at the Individual Property located in Kingwood, Texas (as identified on Schedule 1 hereto), as described in the Environmental Report for such
Individual Property, within ninety (90) days after the Closing Date, (b) provide to Lender and its environmental consultant the results thereof and the related documentation and information relating thereto, and (c) if well water
monitoring or other remediation is recommended by Lender’s environmental consultant or required under applicable Environmental Law or other Legal Requirements, proceed with reasonable diligence to commence and thereafter with reasonable
diligence perform such monitoring or other remediation, which shall be performed in accordance with a plan for such monitoring and mediation reasonably approved in writing by Lender (the “Environmental Remediation Reserve
Work”). In the event any Environmental Remediation Reserve Work is required, Borrower shall, within ten (10) Business Days after Lender’s written request, deposit into a reserve with Lender (the “Environmental
Remediation Reserve”) an amount equal to 110% the costs of such Environmental Remediation Reserve Work, as reasonably estimated by Lender’s environmental consultant (said funds, together with any investment earnings thereon and
additions thereto, the “Environmental Remediation Reserve Funds”). In the event that the funds available from the Environmental Remediation Reserve are insufficient to pay for the required work, Borrower shall pay the amount
of such deficiency. The funds contained in the Environmental Remediation Reserve shall be utilized by Borrower solely for the Environmental Remediation Reserve Work, and shall not be used by Borrower for purposes for which any other Reserve is
established. Upon written application of Borrower, Borrower shall be entitled to draw upon the Environmental Remediation Reserve to pay for such costs, provided that (i) the Reserve Disbursement Conditions shall have been satisfied, and

  
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(ii) Borrower shall provide to Lender such evidence of compliance with law and regulatory oversight of the remediation as Lender may reasonably require, and the same shall be satisfactory to
Lender in its reasonable discretion. Provided that Borrower is not otherwise precluded from making distributions pursuant to the Loan Documents, Borrower shall be entitled to draw any remaining balance in the Environmental Remediation Reserve when
all of the Environmental Remediation Reserve Work has been completed and paid for, all lien waivers have been obtained, and Borrower has delivered such closure reports, no-further-action letters, and other
evidence in accordance with the foregoing. 
 Section 8.6. Excess Cash Reserve Funds. Upon the
occurrence and during the continuance of a Cash Management Period, all Excess Cash shall be collected by Lender and all such amounts shall be held by Lender as additional security for the Loan (amounts so held shall be hereinafter referred to as the
“Excess Cash Reserve Funds” and the account to which such amounts are held shall hereinafter be referred to as the “Excess Cash Reserve Account”). At such time as any Cash Management Period shall end,
any funds held in the Excess Cash Reserve Account shall be returned to Borrower. 
 During a Cash Management Period, so long as no Event of
Default has occurred and is continuing, upon written request of Borrower, Lender shall disburse within ten (10) Business Days of Borrower’s request but no more frequently than quarterly, Excess Cash Reserve Funds (to the extent of the
balance thereof then held in the Excess Cash Reserve Account) for disbursements to Borrower to be distributed to Guarantor (such disbursement and distribution deemed to be an equity distribution by Borrower to its equity holders) in an amount
that is the lesser of (i) $50,000 annually, and (ii) an amount sufficient, as reasonably determined by Borrower, to enable Guarantor to satisfy the distribution requirements applicable to REITs and otherwise avoid the imposition of U.S. federal
and state income and excise taxes (including, without limitation, under Sections 857 and 4981 of the IRS Code) (measured for this purpose as if Borrower were itself a REIT, that such REIT’s assets were limited to the assets of Borrower, and
that such REIT’s income was limited to Borrower’s net taxable income (or the net taxable income of Borrower’s owner for U.S. federal income tax purposes that is attributable to its interest in Borrower)). 

Section 8.7. Intentionally Omitted. 

Section 8.8. General Matters Pertaining to Reserves. 

(A) Release of Reserve Funds. Provided no Event of Default shall exist and remain uncured, Lender shall release
Reserve Funds in accordance with the following terms and conditions (the “Reserve Disbursement Conditions”): 
 (i)
Lender shall apply Taxes and Insurance Reserve Funds to payments of Taxes and Insurance Premiums (and Lender may do so according to any bill, statement or estimate procured from the appropriate public office or insurer, as applicable, without
inquiry into the accuracy of such bill, statement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof); 

(ii) Lender shall disburse Deferred Maintenance Reserve Funds for Required Repairs, Replacement Reserve Funds for Capital Expenditures
performed during the term of the Loan in accordance with the capital expenditures budget prepared by Borrower, and during a Cash Management Period, the Approved Capital Expenditures Budget, and (iii) Environmental Remediation Reserve Funds for
Environmental Remediation Reserve Work, in each case, not more than once monthly with respect to each type of Reserve Fund, and in amounts not less than $25,000.00, or, if less, the remaining balance of the applicable Reserve Funds, upon
satisfaction by Borrower of each of the following conditions: (a) Borrower shall submit a request for payment to Lender at least five (5) Business Days prior to the date 

  
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on which Borrower requests such payment be made and specify the purpose of the disbursement, (b) in the case of disbursements on account of Required Repairs, Capital Expenditures, or
Environmental Remediation Reserve Work: (x) Lender shall have received a certificate from Borrower (1) stating that all work to be funded by the requested disbursement has been completed in a good and workmanlike manner and in accordance
with all applicable Legal Requirements, such certificate to be accompanied by a copy of any license, permit or other approval by any Governmental Authority required in connection therewith, (2) identifying each Person that supplied materials or
labor in connection with the requested disbursement, and (3) stating that each such Person has been paid in full or will be paid in full upon such disbursement, such certificate to be accompanied by lien waivers or other evidence of payment
reasonably satisfactory to Lender, (y) at Lender’s option for requests for disbursements for amounts greater than $250,000, Borrower shall obtain a title or lien search for the applicable Individual Property indicating that such Individual
Property is free from all liens, claims and other encumbrances not previously approved by Lender or otherwise permitted by the Loan Documents, and (z) Lender shall have received such other evidence (including, but not limited to, architectural,
engineering or environmental reports) as Lender shall reasonably request that the work to be funded by the requested disbursement has been completed in accordance with all Legal Requirements and is paid for or will be paid upon such disbursement to
Borrower. 
 (B) Security Interest; Rights on Default. Borrower hereby grants and pledges to Lender a security interest
in any and all monies now or hereafter comprising any Reserves, including all Reserve Funds and any other funds paid to or held by Lender for such purposes, and all earnings on and proceeds of any or all of the foregoing, in each case as security
for the payment of the Loan and the payment and performance of all other Obligations. If an Event of Default exists, Lender shall have no obligation to disburse any amount from any Reserve. Upon the occurrence of an Event of Default, Lender shall
have all rights and remedies under the Loan Documents and under applicable law. Without limitation, if an Event of Default exists, Lender shall have no obligation to disburse any amount from any Reserve, and Lender is expressly authorized to hold
all or any portion of the Reserves and not apply the same to the Obligations, to apply all or any portion of the Reserves against any of the Obligations in any order that Lender determines, to apply all or any portion of the Reserves otherwise as
provided herein, or to dispose of any or all of the same in accordance with applicable law. 
 (C) Earnings on Reserves.
The Reserve Funds shall not constitute trust funds and may be commingled with other monies held by Lender. No earnings or interest on the Reserve Funds shall be payable to Borrower. Neither Lender nor any Servicer that at any time holds or maintains
the Reserve funds shall have any obligation to keep or maintain such Reserve Funds or any funds deposited therein in interest bearing accounts. If Lender or any Servicer elects in its sole and absolute discretion to keep or maintain any Reserve
Funds deposited therein in an interest bearing account, (i) such funds shall not be invested except in Permitted Investments, and (ii) all interest earned or accrued thereon shall be for the account of, and be retained by Lender or any
Servicer. Lender shall not be responsible and shall have no liability whatsoever for the rate of return earned or losses incurred on the investment of any Reserve Funds in Permitted Investments. 

(D) Right to Receive Authorization. Lender shall have the right at any time to request from Borrower or from Guarantor
written authorization in form and substance reasonably satisfactory to Lender, separate and apart from the authorizations set forth in the Loan Documents, to make (or refrain from making) any payment from or with respect to any Reserve (including
payments to Lender for credit against the obligations of Borrower hereunder), or to take (or refrain from taking) any action pertaining to any Reserve. Lender shall have no obligation to request any such written authorization ever, and Lender’s
not requesting any such written authorization shall not give rise to any rights in Borrower or any obligation, liability or detriment of Lender. Further, Lender’s requesting such written authorization in any case or cases shall not give rise to
any obligation to request such written authorization in any subsequent case. If such written authorization is given, then Lender shall have the right to rely on the same irrevocably. If 

  
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Lender requests any such written authorization for any matter which the Loan Documents or applicable law permits or requires Lender to do under the circumstances then in effect or as contemplated
in such request for written authorization, then until such time as Lender receives such written authorization (including any time following denial of such written authorization) Lender is hereby irrevocably authorized to do any one or more of the
following, at Lender’s reasonable option (i) except for payment of Taxes, hold all or any part of the applicable Reserve without making payment therefrom, (ii) make any payments from the Reserve that are then permitted or required
under the Loan Documents or applicable law, or (iii) exercise or refrain from exercising any other rights or remedies pertaining to the Reserves that are then permitted under the Loan Documents or under applicable law. Lender’s rights
under the foregoing sentence may be exercised simultaneously or seriatim in any combination or sequence. If Lender shall exercise any of such rights by reason of not having received any requested written authorization, and if the requested written
authorization is subsequently given (or if a denial of written authorization is subsequently rescinded), Lender shall not then be required to undo the results of any such exercise of rights, and Lender shall not be bound by any obligation which
Lender determines in its reasonable discretion is inconsistent with any of the rights that have been so exercised. The rights of Lender under this subsection shall govern and prevail notwithstanding anything to the contrary in the Loan
Documents or elsewhere. Without limitation, the rights of Lender under this subsection shall govern and prevail over any provision of the Loan Documents which imposes on Lender any obligation whatsoever pertaining to any Reserve. 

(E) Reserves Not Specifically Identified in Article VIII. This Article shall apply to all Reserves that are specifically
identified in this Article VIII and also to any other Reserves that are required pursuant to the Loan Documents. 
 (F)
Additional Provisions. Borrower’s obligations to make deposits into each Reserve are separate from Borrower’s obligations to make deposits into each other Reserve, and from its obligations to pay as and when due all
principal, interest, and other amounts owing under the Loan Documents. Without limitation, nothing in this Article shall excuse Borrower’s performance of any obligation set forth elsewhere in this Agreement or in the Loan Documents. Lender may
(but need not) disburse payment from any Reserve directly to the applicable vendor, by joint check to Borrower (or any Individual Borrower on behalf of Borrower) and the applicable contractor, or to Borrower (or any Individual Borrower on behalf of
Borrower), in each case as determined by Lender in its sole discretion. To the extent that Reserves are funded from Loan proceeds, whether at Closing or otherwise, the amount so funded shall constitute principal outstanding hereunder. Upon full and
final payment of the Obligations, any funds remaining in any Reserve shall be disbursed to Borrower. 
 Section 8.9. Letters of
Credit.  
 (A) This Section shall apply to any Letters of Credit which are permitted to be delivered pursuant to the
express terms and conditions of this Agreement. Borrower shall give Lender no less than ten (10) days written notice of Borrower’s election to deliver a Letter of Credit together with a draft of the proposed Letter of Credit and Borrower
shall pay to Lender all of Lender’s reasonable out-of-pocket costs and expenses actually incurred in connection therewith. No party other than Lender shall be
entitled to draw on any such Letter of Credit. 
 (B) Each Letter of Credit delivered hereunder shall be additional security for the
payment of the Obligations. Upon the occurrence and during the continuance of an Event of Default, Lender shall have the right, at its option, to draw on any Letter of Credit and to apply all or any part thereof to the payment of the items for which
such Letter of Credit was established or to apply each such Letter of Credit to payment of the Obligations in such order, proportion or priority as Lender may determine. Any such application to the Obligations shall be subject to the terms and
conditions hereof relating to application of 

  
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sums to the Obligations. Lender shall have the additional rights to draw in full any Letter of Credit: (i) if Lender has received a notice from the issuing bank that the Letter of Credit
will not be renewed and a substitute Letter of Credit is not provided at least thirty (30) days prior to the date on which the outstanding Letter of Credit is scheduled to expire; (ii) if Lender has not received a notice from the issuing
bank that it has renewed the Letter of Credit at least thirty (30) days prior to the date on which such Letter of Credit is scheduled to expire and a substitute Letter of Credit is not provided at least thirty (30) days prior to the date
on which the outstanding Letter of Credit is scheduled to expire; (iii) upon receipt of notice from the issuing bank that the Letter of Credit will be terminated (except if the termination of such Letter of Credit is permitted pursuant to the
terms and conditions hereof or a substitute Letter of Credit is provided by no later than thirty (30) days prior to such termination); (iv) if Lender has received notice that the bank issuing the Letter of Credit shall cease to be an Approved
LC Bank and Borrower has not substituted a Letter of Credit from an Approved LC Bank within fifteen (15) days after notice; and/or (v) if the bank issuing the Letter of Credit shall fail to (A) issue a replacement Letter of Credit in
the event the original Letter of Credit has been lost, mutilated, stolen and/or destroyed or (B) consent to the transfer of the Letter of Credit to any Person designated by Lender in connection with this Agreement. If Lender draws upon a Letter
of Credit pursuant to the terms and conditions of this Agreement, provided no Event of Default exists, Lender shall apply all or any part thereof for the purposes for which such Letter of Credit was established. Notwithstanding anything to the
contrary contained in the above, Lender is not obligated to draw any Letter of Credit upon the happening of an event specified in (i), (ii), (iii), (iv) or (v) above and shall not be liable for any losses sustained by Borrower due to the
insolvency of the bank issuing the Letter of Credit if Lender has not drawn the Letter of Credit. 
 (C) In no event shall Borrower be
an account party to, or have or incur any reimbursement obligations in connection with, any Letter of Credit. Notwithstanding anything to the contrary contained herein, Borrower shall only be permitted to deliver a Letter of Credit hereunder to the
extent the amount of such Letter of Credit, together with the amounts of all other outstanding Letters of Credit, does not exceed ten percent (10%) of the outstanding principal balance of the Loan. 

ARTICLE IX 
 DEFAULT,
RIGHTS AND REMEDIES 
 Section 9.1. Events of Default. The term “Event of
Default” shall mean the occurrence or existence of any one or more of the following: 
 (A) Scheduled
Payments. If (i) if any scheduled payment, including any monthly Debt Service payment, the payment due on the Maturity Date, and deposits in any of the Reserves, is not paid as and when the same is due under this Agreement, the Note, or
any other Loan Documents (whether such amount is interest, principal, or otherwise), or (ii) failure of Borrower to pay any other amount under Section 3.2(B)(i) through (vi) that is not
included in the foregoing clause (i) within five (5) Business Days after each Payment Date; 
 (B) Taxes.
Subject to Borrower’s right to context Taxes or Other Taxes in accordance with the provisions of Section 7.3, failure by Borrower to pay any Taxes or Other Taxes prior to delinquency (except to the extent (i) sums
sufficient to pay the Taxes or Other Taxes in question had been reserved hereunder prior to the applicable due date for the Taxes or Other Taxes in question for the express purpose of paying the Taxes or Other Taxes in question and Lender failed to
pay the Taxes or Other Taxes in question when required hereunder, (ii) Lender’s access to such sums was not restricted or constrained in any manner and (iii) no Event of Default was continuing); or 

  
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 (C) Other Payments. Failure of Borrower to pay any other amount
from time to time owing under this Agreement, the Note, or any other Loan Documents (other than amounts paid pursuant to Section 9.1(A)) within ten (10) Business Days following written notice by Lender to Borrower; or

 (D) Breach of Reporting Provisions. Failure of any Borrower Party to perform or comply with any term or condition
contained in Article V which continues for a period of ten (10) Business Days after written demand or failure of Borrower to deliver to Lender, within ten (10) Business Days after written request by Lender, the estoppel certificates
required by Section 7.12(A); or 
 (E) Breach of SPE Bankruptcy Remote Entity Provisions.
Breach or default under Article X or Section 7.1(B) hereof or if any of the assumptions contained in the Insolvency Opinion fail to be true and correct in any material respect; provided, however, the same shall not
be an Event of Default if (i) such breach was inadvertent and non-recurring, (ii) such breach is not reasonably expected to have a Material Adverse Effect, (iii) Borrower cures such breach
within thirty (30) days of the earlier to occur of (A) Borrower obtaining actual knowledge of same, and (B) written notice from Lender, and (iv) within thirty (30) days of the written request by Lender, Borrower shall cause
counsel to Borrower reasonably acceptable to Lender to deliver an opinion of counsel confirming that Borrower and its assets will not be consolidated into or with any other Person or such Person’s bankruptcy proceedings regardless as to the
existence of such breach, which opinion shall be acceptable to Lender in its reasonable discretion; or 
 (F) Policies.
If the insurance policies required to be maintained under Article VI are not kept in full force and effect (provided, however, no Event of Default shall result from a failure to timely pay Insurance Premiums as provided in this Agreement if
to the extent (i) sufficient funds to pay the Insurance Premiums in question are then held in the Taxes and Insurance Reserve for the express purpose of paying the Insurance Premiums in question on or prior to the applicable due date for the
Insurance Premiums in question, (ii) Borrower has complied with all disbursement obligations with respect thereto, (iii) Lender’s access to such sums was not restricted or constrained in any manner, (iv) Lender fails to pay the
same in violation of this Agreement, and (v) no Event of Default exists); or 
 (G) Breach of Provisions Regarding
Transfers, Liens, ERISA, Patriot Act. Breach or default under Article XI, or any of Sections 4.14, 4.23, 7.20 or 7.23; provided, however, that with respect to any such breach of
Section 4.23 or 7.23 that is susceptible of being cured, such breach shall not be deemed an Event of Default hereunder unless and until it shall remain uncured for ten (10) Business Days after the earlier to
occur of (i) a Borrower Party obtaining actual knowledge of such breach and (ii) written notice from Lender; or 
 (H)
Breach of Representation or Warranty. If (i) any representation or warranty made by any Individual Borrower herein or by any Individual Borrower or Guarantor in any other Loan Document as of the date such representation or
warranty was made or is deemed to have been remade is, or (ii) any financial statement, report, certificate or other instrument, agreement or document furnished to Lender by or on behalf of any Individual Borrower or Guarantor shall be (or
contained statements or information that is), false or misleading in any material respect as of the date the same was delivered, unless with respect to the foregoing misrepresentations or false or misleading information (each, a
“Misrepresentation”) (A) such Misrepresentation was not knowingly or intentionally made, (B) Lender has suffered no actual Loss on account thereof (or Borrower shall have reimbursed Lender for the amount of such Loss)
nor has the same resulted in a Material Adverse Effect, (C) such Misrepresentation can be cured (meaning that the facts and circumstances underlying the applicable Misrepresentation can be changed such that the applicable representation or
information as made or delivered will be true and correct), and (D) such Misrepresentation has been so cured within thirty (30) days after the earlier of (1) the date on which Borrower first has actual knowledge that such Misrepresentation
exists, and (2) the date on which Lender first notifies Borrower in writing that such Misrepresentation exists); or 

  
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 (I) Cross-Default with the Other Loan Documents. If any Default shall
exists under any of the other Loan Documents beyond any applicable notice and/or cure periods contained in such Loan Documents or notice and/or cure periods for defaults, or if any other event shall occur or condition shall exist if the effect of
such event or condition is to accelerate the maturity of the Loan or to permit Lender to accelerate the maturity of the Loan; or 

(J) Involuntary Bankruptcy; Appointment of Receiver, etc. (i) A court enters a decree or order for relief with
respect to any Individual Borrower, Guarantor, Operating Partnership or Affiliated Manager in an involuntary bankruptcy action involving any Individual Borrower, Guarantor, Operating Partnership or Affiliated Manager, which decree or order is not
stayed or other similar relief is not granted under any applicable federal or state law; (ii) the occurrence and continuance of any of the following events for ninety (90) days unless dismissed or discharged within such time: (x) an
involuntary Bankruptcy involving any Individual Borrower, Guarantor, Operating Partnership or Affiliated Manager is commenced, (y) a decree or order of a court for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or
other officer having similar powers over any Individual Borrower, Guarantor, Operating Partnership or Affiliated Manager or over all or a substantial part of its property, is entered, or (z) an interim receiver, trustee or other custodian is
appointed without the consent of any Individual Borrower, Guarantor, Operating Partnership or Affiliated Manager, for all or a substantial part of the property of such Person; or 

(K) Voluntary Bankruptcy; Appointment of Receiver, etc. (i) An order for relief is entered with respect to any
Individual Borrower, Guarantor, Operating Partnership or Affiliated Manager, or any Individual Borrower, Guarantor, Operating Partnership or Affiliated Manager commences a voluntary case under the Bankruptcy Code or any applicable bankruptcy,
insolvency or other similar law now or hereafter in effect, or consents to the entry of an order for relief in an involuntary case or to the conversion of an involuntary case to a voluntary case under any such law or consents to the appointment of
or taking possession by a receiver, trustee or other custodian for any Individual Borrower, Guarantor, Operating Partnership or Affiliated Manager or for all or a substantial part of the property of any Individual Borrower, Guarantor, Operating
Partnership or Affiliated Manager; (ii) any Individual Borrower, Guarantor, Operating Partnership or Affiliated Manager makes any assignment for the benefit of creditors; or (iii) any Individual Borrower, Guarantor, Operating Partnership
or Affiliated Manager or any governing body of any Individual Borrower, Guarantor, Operating Partnership or Affiliated Manager adopts any resolution or otherwise authorizes action to approve any of the actions referred to in this
Section 9.1(K); or 
 (L) Dissolution; Insolvency. The insolvency, dissolution, winding up,
termination or cessation of existence of any Individual Borrower, Guarantor, Operating Partnership or Affiliated Manager, the admission of any Individual Borrower, Guarantor or Operating Partnership of its inability to pay its debts as they become
due; or 
 (M) Judgment and Attachments. if the Property (or any portion thereof) becomes subject to any
mechanic’s, materialman’s lien, judgment lien, tax lien or other lien (other than a lien for any real property Taxes not then due and payable or a Permitted Encumbrance) and the lien shall remain undischarged of record (by payment, bonding
or otherwise) for a period of forty-five (45) days; or 
 (N) Accounts. Any deposit to any of the Accounts required
hereunder or under the other Loan Documents is not paid within three (3) Business Days after such deposit is due; or 

  
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 (O) Default Under Other Financing. If any Individual Borrower shall be
in default beyond applicable notice and grace periods under any other mortgage, deed of trust, deed to secure debt or other security agreement covering any part of the Property whether it be superior or junior in lien to the Security Instrument; or

 (P) Assignment of Loan Documents. If Borrower assigns its rights under this Agreement or any of the other Loan
Documents or any interest herein or therein in contravention of the Loan Documents; or 
 (Q) Modification, Termination or
Surrender of Management Agreement. (i) Without the prior written consent of Lender, there occurs any termination, surrender or material modification of any Management Agreement, (ii) Borrower defaults under any Management Agreement
beyond the expiration of applicable notice and cure periods or (iii) if Borrower fails to appoint a new Qualified Manager upon written request of Lender in accordance with the terms and provisions of this Agreement and the other Loan Documents
and/or fails to comply with any limitations on instructing any Property Manager as required by and in accordance with the terms and provisions of this Agreement and the other Loan Documents; or 

(R) Securitization. Failure by Borrower to comply with any of its obligations under Article XIII hereof, for five
(5) Business Days after written notice to Borrower from Lender; or 
 (S) Guarantor Financial Covenants. Guarantor
fails to satisfy the Guarantor Financial Covenants; or 
 (T) Interest Rate Cap Agreement. Failure of
Borrower to purchase and maintain any Interest Rate Cap Agreement as required pursuant to this Agreement; 
 (U) Other
Defaults. If Borrower or Guarantor shall continue to be in Default under any of the other terms, covenants or conditions of this Agreement or any other Loan Document not specified in subsections (A) to (T) above, for ten
(10) Business Days after written notice to Borrower from Lender, in the case of any Default which can be cured by the payment of a sum of money, or for thirty (30) days after notice from Lender in the case of any other Default; provided,
however, that if such non-monetary Default is susceptible of cure but cannot reasonably be cured within such thirty (30) day period and provided further that Borrower and/or Guarantor shall have commenced
to cure such Default within such thirty (30) day period and thereafter diligently and expeditiously proceeds to cure the same, such thirty (30) day period shall be extended for such time as is reasonably necessary for Borrower and/or
Guarantor in the exercise of due diligence to cure such Default, such additional period not to exceed ninety (90) days. 
 If more than
one of the foregoing paragraphs shall describe the same condition or event, then Lender shall have the right to select which paragraph or paragraphs shall apply. In any such case, Lender shall have the right (but not the obligation) to designate the
paragraph or paragraphs which provide for no notice or for a shorter time to cure (or for no time to cure). 
 Section 9.2.
Acceleration and Remedies. 
 (A) Upon the occurrence and during the continuance of any Event of Default under Sections
9.1(J), (K) or (L), the unpaid principal amount of and accrued interest and fees on the Loan and all other Obligations shall automatically, without notice, become immediately due and payable, without presentment, demand, protest,
notice of intent to accelerate, notice of acceleration or other requirements of any kind, all of which are hereby expressly waived by each Borrower Party. Upon and at any time after the 

  
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occurrence and during the continuance of any other Event of Default, at the option of Lender, which may be exercised without notice or demand to anyone, all or any portion of the Loan and other
Obligations shall immediately become due and payable without presentment, demand, protest, notice of intent to accelerate, notice of acceleration or other requirements of any kind, all of which are hereby expressly waived by each Borrower Party.

 (B) Upon the occurrence and during the continuance of an Event of Default, all or any one or more of the rights, powers, privileges
and other remedies available to Lender against Borrower under this Agreement or any of the other Loan Documents, or at law or in equity, may be exercised by Lender at any time and from time to time, whether or not all or any of the Obligations shall
be declared due and payable, and whether or not Lender shall have commenced any foreclosure proceeding or other action for the enforcement of its rights and remedies under any of the Loan Documents with respect to the Property. Any such actions
taken by Lender shall be cumulative and concurrent and may be pursued independently, singly, successively, together or otherwise, at such time and in such order as Lender may determine in its sole discretion, to the fullest extent permitted by law,
without impairing or otherwise affecting the other rights and remedies of Lender permitted by law, equity or contract or as set forth herein or in the other Loan Documents. Without limiting the generality of the foregoing, if an Event of Default is
continuing (i) to the fullest extent permitted by law, Lender 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
Lender shall remain in full force and effect until Lender has exhausted all of its remedies against the Property and the Security Instruments have been foreclosed, sold and/or otherwise realized upon in satisfaction of the Obligations or the
Obligations have been paid in full. 
 (C) Upon the occurrence and during the continuance of an Event of Default, Lender shall have
the right from time to time to partially foreclose one or more of the Security Instruments in any manner and for any amounts secured by such Security Instruments then due and payable as determined by Lender in its sole discretion including, without
limitation, the following circumstances: (i) if Borrower defaults beyond any applicable grace period in the payment of one or more scheduled payments of principal and interest, Lender may foreclose one or more of the Security Instruments to
recover such delinquent payments, or (ii) if Lender elects to accelerate less than the entire outstanding principal balance of the Loan, Lender may foreclose one or more of the Security Instruments to recover so much of the principal balance of
the Loan as Lender may accelerate and such other sums secured by the Security Instruments as Lender may elect. Notwithstanding one or more partial foreclosures, the Property shall remain subject to the Security Instruments to secure payment of sums
secured by the Security Instruments and not previously recovered. 
 (D) Any amounts recovered from the Property or any other
collateral for the Loan during the continuance of an Event of Default may be applied by Lender toward the payment of any interest and/or principal of the Loan and/or any other amounts due under the Loan Documents in such order, priority and
proportions as Lender in its sole discretion shall determine. 
 (E) The rights, powers and remedies of Lender under this Agreement
shall be cumulative and not exclusive of any other right, power or remedy which Lender may have against Borrower pursuant to this Agreement or the other Loan Documents, or existing at law or in equity or otherwise. Lender’s rights, powers and
remedies may be pursued singly, concurrently or otherwise, at such time and in such order as Lender may determine in Lender’s sole discretion. No delay or omission to exercise any remedy, right or power accruing upon an Event of Default shall
impair any such remedy, right or power or shall be construed as a waiver thereof, but any such remedy, right or power may be exercised from time to time and as often as may be deemed expedient. A waiver of one Default or Event of Default with
respect to Borrower shall not be construed to be a waiver of any subsequent Default or Event of Default by Borrower or to impair any remedy, right or power consequent thereon. 

  
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 Section 9.3. Duration of Events of Default.
Notwithstanding anything else herein or any other Loan Document (but subject to any contrary effect of any applicable statute), Lender shall have no obligation to accept the cure of, or to waive, any Event of Default, regardless of tender of
delinquent payments or other performance by Borrower, or any other event or condition whatsoever; and no Borrower Party shall have any right to cure any Event of Default, and no right to cure shall be implied. After the first occurrence of any Event
of Default (irrespective of whether or not the same consists of an ongoing condition, a one-time occurrence, or otherwise), the same shall be deemed to continue at all times thereafter; provided, however, that
such Event of Default shall cease to continue only if Lender shall expressly accept performance of the defaulted obligation in writing or shall otherwise execute and deliver a written agreement in which Lender expressly states that such Event of
Default has ceased to continue. Lender shall not be obligated under any circumstances whatsoever to accept such performance or execute and deliver any such writing. Without limitation, this Section shall govern in any case where reference is
made in this Agreement or elsewhere in the Loan Documents to (i) any “cure” (whether by use of such word or otherwise) of any Event of Default, (ii) “during an Event of Default,” “the continuance of an Event of
Default” or “after an Event of Default has ceased” (in each case, whether by use of such words or otherwise), or (iii) any condition or event which continues beyond the time when the same becomes an Event of Default. 

Section 9.4. Performance by Lender. 

(A) If any Borrower Party shall fail to perform fully, or cause to be performed fully, any covenant, duty or agreement contained in any
of the Loan Documents, irrespective of whether notice has been given and whether any time in which to cure has elapsed and irrespective of whether or not an Event of Default has occurred, Lender may (but shall have no obligation to) perform or
attempt to perform such covenant, duty or agreement on behalf of such Borrower Party. In such event, Borrower shall, at the request of Lender, promptly pay to Lender any amount reasonably expended by Lender in such performance or attempted
performance, together with interest thereon at the Default Rate, from the date of such expenditure until paid. Any amounts advanced or expended by Lender to perform or attempt to perform any such matter shall be added to and included within the
Indebtedness evidenced by the Note and shall be secured by all of the Collateral securing the Loan. Notwithstanding the foregoing, it is expressly agreed that Lender shall not have any liability or responsibility for the performance of any
obligation of any Borrower Party under this Agreement or any other Loan Document. 
 (B) Lender may cease or suspend any and all
performance required of Lender under the Loan Documents upon and during the continuance of any Default, and upon and at any time after the occurrence of any Event of Default. 

Section 9.5. Right of Entry. Following the occurrence and during the continuance of an Event of
Default, Lender is hereby irrevocably empowered to enter and to authorize others to enter upon any Individual Property or any part thereof for the purposes of (i) inspecting such Individual Property and conducting tests and appraisals,
(ii) determining whether Borrower has performed its obligations under the Loan Documents, (iii) protecting Lender’s interests in the Collateral, (iv) performing or attempting to perform any obligation of Borrower,
(v) responding to any Default, and (vi) collecting any Receipts and performing any obligations under any Leases. Lender shall not be liable to Borrower or any person in possession holding under Borrower by reason of such entry or such
action.  

  
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 Section 9.6. Evidence of Compliance. Promptly
following request by Lender, Borrower shall provide such documents and instruments as shall be reasonably satisfactory to Lender to evidence compliance with any provision of the Loan Documents. 

ARTICLE X 

SINGLE-PURPOSE, BANKRUPTCY-REMOTE REPRESENTATIONS, 

WARRANTIES AND COVENANTS 

Section 10.1. SPE Bankruptcy Remote Entity. Borrower hereby jointly and severally represents,
warrants and covenants as of the Closing Date and also until such time as all Obligations are paid in full that each Individual Borrower shall comply with the provisions set forth in this Article X. 

(A) The organizational documents of each Individual Borrower shall provide, and each Individual Borrower hereby represents and warrants
to, and covenants with Lender, that since the date of its formation and at all times on and after the date hereof, such Individual Borrower has not and will not: 

(i) engage in any business or activity other than the ownership, leasing, operation, maintenance, financing in connection with the Loan and
the Prior Loan and transfer in accordance with the terms of Section 2.13 hereof of the applicable Individual Property, and activities incidental thereto; 

(ii) acquire or own any assets other than (A) the applicable Individual Property, and (B) such personal property as may be
incidental to or necessary for the ownership, leasing, maintenance and operation of such applicable Individual Property; 
 (iii) merge into
or consolidate with any Person, divide or otherwise engage in or permit any Division or permit any Division or dissolve, terminate, liquidate in whole or in part, transfer or otherwise dispose of all or substantially all of its assets or change its
legal structure (from a Delaware limited liability company). As used herein, the term “Division” shall mean, as to any Person, such Person dividing and/or otherwise engaging in and/or becoming subject to, in each case, any division
(whether pursuant to plan of division or otherwise), including, without limitation and to the extent applicable, pursuant to §18-217 of the Limited Liability Company Act of the State of Delaware; 

(iv) fail to observe (in all material respects) all organizational formalities, or fail to preserve its existence as an entity duly organized,
validly existing and in good standing (if applicable) under the applicable Legal Requirements of the jurisdiction of its organization or formation, or amend, modify, terminate or fail to comply with the “special purpose provisions” of its
organizational documents relating to its status as an SPE Bankruptcy Remote Entity (provided, that, such organizational documents may be amended or modified to the extent that, in addition to the satisfaction of the requirements related thereto set
forth therein, Lender’s prior written consent and, if required by Lender, a Rating Agency Confirmation are first obtained); 
 (v) own
any subsidiary, or make any investment in, any Person; 
 (vi) commingle its funds or assets with the funds or assets of any other Person
(except (i) with other Individual Borrowers, and (ii) with respect to Tenant Insurance Revenue, the TRS Borrowers, Property Manager or their Affiliates, provided that the Borrower’s TIR Share of such Tenant Insurance Revenue shall
continue be held by such Persons for the account of the applicable TRS Borrower, and constitute the property of such TRS Borrower, and appropriate allocations and accounting notations shall be made on the books and records of such Persons providing
for the same and to indicate the separateness of such TRS Borrowers from such Persons and to indicate that the assets and credit of such TRS Borrowers are not available to satisfy the debts and other obligations of such Persons); 

  
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 (vii) other than Prior Loans, incur any Indebtedness, secured or unsecured, direct or
contingent (including guaranteeing any obligation), other than (A) the Loan and (B) Permitted Indebtedness. From and after the Closing Date, no Indebtedness other than the Loan (senior, subordinate or pari passu) may be secured by the
Property (except for Permitted Encumbrances); 
 (viii) (A) fail to maintain all of its books, records, financial statements and bank
accounts separate from those of any other Person (including, without limitation, any Affiliates) or (B) permit its assets to be listed as assets on the financial statement of any other Person; provided, however, that its assets may be included
in a consolidated financial statement of its Affiliates provided that (i) appropriate notation shall be made on such consolidated financial statements to indicate the separateness of such Individual Borrower and such Affiliates and to indicate
that its assets and credit are not available to satisfy the debts and other obligations of such Affiliates or any other Person, except, with respect to each Individual Borrower, as contemplated by the Loan Documents with respect to any other
Individual Borrower, and (ii) such assets shall be listed on its own separate balance sheet. Such Individual Borrower has maintained and will maintain its books, records, resolutions and agreements as official records; 

(ix) other than capital contributions and distributions permitted under the terms and conditions of its organizational documents and properly
reflected in its books and records, enter into any contract or agreement with any partner, member, shareholder, principal or Affiliate, except, in each case, in the ordinary course of business and upon terms and conditions that are fair and
reasonable and substantially similar to those that would be available on an arm’s-length basis with unaffiliated third parties; 

(x) maintain its assets in such a manner that it will be costly or difficult to segregate, ascertain or identify its individual assets from
those of any other Person; 
 (xi) other than for Prior Loans, assume or guaranty the debts of any other Person, hold itself out to be
responsible for the debts of any other Person, or otherwise pledge its assets for the benefit of any other Person or hold out its credit as being available to satisfy the obligations of any other Person except, with respect to each Individual
Borrower, as contemplated by the Loan Documents with respect to any other Individual Borrower; 
 (xii) make any loans or advances to any
Person; 
 (xiii) fail to file its own tax returns separate from any other Person (to the extent the Borrower is required to file any such
tax returns). Such Individual Borrower has not and will not file a consolidated federal income tax return with any other Person (except that such Individual Borrower, if it is a disregarded entity for federal income tax purposes, may be included in
the federal income tax return of such Individual Borrower’s regarded owner to the extent required or permitted by applicable law); 

(xiv) fail to (A) hold itself out to the public and identify itself, in each case, as a legal entity separate and distinct from any other
Person and not as a division or part of any other Person, (B) conduct its business solely in its own name (except for business conducted on behalf of such Individual Borrower by the Property Manager, provided that such Property Manager holds
itself out as the agent for such Individual Borrower), (C) hold its assets in its own name or (D) correct any known misunderstanding regarding its separate identity; provided, however, that the Individual Property owned by such Individual
Borrower may be operated and branded as a “SmartStop” self-storage facility; 

  
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 (xv) fail to intend to maintain adequate capital for the normal obligations reasonably
foreseeable in a business of its size and character and in light of its contemplated business operations (to the extent there exists sufficient cash flow from the Property to do so); 

(xvi) without the prior unanimous written consent of all of its partners, shareholders or members, as applicable, the prior unanimous written
consent of its board of directors or managers, as applicable, and the prior written consent of each Independent Director, (a) file or consent to the filing of any petition, either voluntary or involuntary, to take advantage of any applicable
insolvency, bankruptcy, liquidation or reorganization statute with respect to such Individual Borrower, (b) seek or consent to the appointment of a receiver, liquidator or any similar official with respect to any Individual Borrower,
(c) make a general assignment for the benefit of creditors or (d) take any other Material Action with respect to such Individual Borrower (provided, that, none of any member, shareholder or partner (as applicable) of any Individual
Borrower or any board of directors or managers (as applicable) of any Individual Borrower may vote on or otherwise authorize the taking of any of the foregoing actions unless, in each case, there are at least two (2) Independent Directors then
serving in such capacity in accordance with the terms of the applicable organizational documents and each of such Independent Directors have consented to such foregoing action); 

(xvii) fail to allocate fairly and reasonably shared expenses (including, without limitation, shared office space) or fail to use separate
invoices and checks; 
 (xviii) fail to pay its own liabilities (including, without limitation, salaries of its own employees) from its own
funds or fail to maintain a sufficient number of employees in light of its contemplated business operations and the engagement of the Property Manager pursuant to the Management Agreement with respect to the Individual Property owned by such
Individual Borrower (in each case to the extent there exists sufficient cash flow from the applicable Individual Property to do so after the payment of all operating expenses, capital expenditures and Debt Service; provided, however, that no equity
owner of such Individual Borrower shall be required to make any additional capital contributions or loans to such Individual Borrower or to arrange for any capital contributions or loans from any third party); 

(xix) acquire obligations or securities of its partners, members, shareholders or other Affiliates, as applicable; 

(xx) identify its partners, members, shareholders or other Affiliates, as applicable, as a division or part of it; or 

(xxi) violate or cause to be violated the assumptions made with respect to such Individual Borrower and its principals in the Insolvency
Opinion or in any replacement or supplement thereof. 
 (B) The limited liability company agreement of each Individual Borrower (each,
the “LLC Agreement”) shall provide that (i) upon the occurrence of any event that causes the last remaining member of such Individual Borrower (“Member”) to cease to be the member of such Individual Borrower
(other than (A) upon an assignment by Member of all of its limited liability company interest in such Individual Borrower and the admission of the transferee in accordance with the Loan Documents and the LLC Agreement, or (B) the
resignation of Member and the admission of an additional member of such Individual Borrower in accordance with the terms of the Loan Documents and the LLC Agreement), any person acting as Independent Director of such Individual Borrower shall,
without any action of any other Person and simultaneously with the Member ceasing to be the member of such Individual Borrower 

  
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automatically be admitted to such Individual Borrower as a member with a 0% economic interest (“Special Member”) and shall continue such Individual Borrower without dissolution
and (ii) Special Member may not resign from such Individual Borrower or transfer its rights as Special Member unless (A) a successor Special Member has been admitted to such Individual Borrower as a Special Member in accordance with
requirements of Delaware law and (B) after giving effect to such resignation or transfer, there remains at least two (2) Independent Directors of such Individual Borrower in accordance with Section 10.2 below. The
LLC Agreement shall further provide that (I) Special Member shall automatically cease to be a member of such Individual Borrower upon the admission to such Individual Borrower of the first substitute member, (II) Special Member shall be a
member of such Individual Borrower that has no interest in the profits, losses and capital of such Individual Borrower and has no right to receive any distributions of the assets of such Individual Borrower, (III) pursuant to the applicable
provisions of the limited liability company act of the State of Delaware (the “Act”), Special Member shall not be required to make any capital contributions to such Individual Borrower and shall not receive a limited liability
company interest in such Individual Borrower, (IV) Special Member, in its capacity as Special Member, may not bind the Individual Borrower and (V) except as required by any mandatory provision of the Act, Special Member, in its capacity as
Special Member, shall have no right to vote on, approve or otherwise consent to any action by, or matter relating to, such Individual Borrower including, without limitation, the merger, consolidation, Division or conversion of such Individual
Borrower; provided, however, such prohibition shall not limit the obligations of Special Member, in its capacity as Independent Director, to vote on such matters required by the Loan Documents or the LLC Agreement. In order to implement the
admission to such Individual Borrower of Special Member, Special Member shall execute a counterpart to the LLC Agreement. Prior to its admission to such Individual Borrower as Special Member, Special Member shall not be a member of such Individual
Borrower, but Special Member may serve as an Independent Director of such Individual Borrower. 
 (C) Each LLC Agreement shall further
provide that (i) upon the occurrence of any event that causes the Member to cease to be a member of any Individual Borrower to the fullest extent permitted by law, the personal representative of Member shall, within ninety (90) days after
the occurrence of the event that terminated the continued membership of Member in such Individual Borrower agree in writing (A) to continue such Individual Borrower and (B) to the admission of the personal representative or its nominee or
designee, as the case may be, as a substitute member of such Individual Borrower effective as of the occurrence of the event that terminated the continued membership of Member in such Individual Borrower, (ii) any action initiated by or brought
against Member or Special Member under the Bankruptcy Code or any other federal or state bankruptcy or state law shall not cause Member or Special Member to cease to be a member of such Individual Borrower and upon the occurrence of such an event,
the business of such Individual Borrower shall continue without dissolution and (iii) each of Member and Special Member waives any right it might have to agree in writing to dissolve such Individual Borrower upon the occurrence of any action
initiated by or brought against Member or Special Member under the Bankruptcy Code or any other federal or state bankruptcy or state law, or the occurrence of an event that causes Member or Special Member to cease to be a member of such Individual
Borrower. 
 Section 10.2. Independent Director. 

(A) The organizational documents of each Individual Borrower shall provide that at all times there shall be at least two duly appointed
independent directors or managers of such entity (each, an “Independent Director”) who each shall (I) not have been at the time of each such individual’s initial appointment, and shall not have been at any time
during the preceding five years, and shall not be at any time while serving as Independent Director, (i) a shareholder (or other equity owner) of, or an officer, director (other than in its capacity as Independent Director), partner, member
(other than the Special Member) or employee of, such Individual Borrower or any of its respective shareholders, partners, members, subsidiaries or Affiliates (other than serving as a special member or springing member or an Independent Director or
an Affiliate of such Individual Borrower that is not in a direct chain of ownership 

  
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of such Individual Borrower), (ii) a customer of, or supplier to, or other Person who derives any of its purchases or revenues from its activities with, any Individual Borrower, (iii) a
Person who Controls or is under common Control with any such shareholder, officer, director, partner, member, employee supplier, customer or other Person, (iv) a member of the immediate family of any such shareholder, officer, director,
partner, member, employee, supplier, customer or other Person, or (v) a trustee or similar Person in any proceeding under the Bankruptcy Code (or any other federal or state bankruptcy or state law) involving such Individual Borrower or any of
its respective shareholders, partners, members, subsidiaries or Affiliates, (II) shall have, at the time of their appointment, had at least three (3) years’ experience in serving as an independent director, and (III) be employed
by, in good standing with and engaged by such Individual Borrower in connection with, in each case, an Approved ID Provider. A natural person who satisfies the foregoing definition other than clause (ii) above shall not be disqualified
from serving as an Independent Director of an Individual Borrower if such individual is an Independent Director employed by, and in good standing with, an Approved ID Provider that provides professional independent directors, independent managers
and special managers and also provides other corporate services in the ordinary course of its business. 
 (B) The organizational
documents of each Individual Borrower shall further provide that (I) the board of directors or managers of such Individual Borrower and the members of such entity shall not take any action set forth in
Section 10.1(A)(xvi) or any other action which, under the terms of any organizational documents of such Individual Borrower, requires the vote of the Independent Directors unless, in each case, at the time of such action
there shall be at least two Independent Directors engaged as provided by the terms hereof and such Independent Directors vote in favor of or otherwise consent to such action; (II) any resignation, removal or replacement of any Independent
Director shall not be effective without (1) prior written notice to Lender and the Rating Agencies (which such prior written notice must be given on the earlier of five (5) days or three (3) Business Days prior to the applicable
resignation, removal or replacement) and (2) evidence that the replacement Independent Director satisfies the applicable terms and conditions hereof and of the applicable organizational documents (which such evidence must accompany the
aforementioned notice); (III) to the fullest extent permitted by applicable law, including Section 18-1101(c) of the Act and notwithstanding any duty otherwise existing at law or in equity, the
Independent Directors shall consider only the interests of the Constituent Owners and such Individual Borrower (including such Individual Borrower’s respective creditors) in acting or otherwise voting on the matters provided for herein and in
such Individual Borrower’s organizational documents (which such fiduciary duties to the Constituent Owners and such Individual Borrower (including such Individual Borrower’s creditors), in each case, shall be deemed to apply solely to the
extent of their respective economic interests in such Individual Borrower exclusive of (x) all other interests (including, without limitation, all other interests of the Constituent Owners), (y) the interests of other Affiliates of the
Constituent Owners and such Individual Borrower and (z) the interests of any group of Affiliates of which the Constituent Owners or such Individual Borrower is a part)); (IV) other than as provided in subsection (III) above, the
Independent Directors shall not have any fiduciary duties to any Constituent Owners, any directors of such Individual Borrower or any other Person; (V) the foregoing shall not eliminate the implied contractual covenant of good faith and fair
dealing under applicable law; and (VI) to the fullest extent permitted by applicable law, including Section 18-1101(e) of the Act, an Independent Director shall not be liable to such Individual
Borrower, any Constituent Owner or any other Person for breach of contract or breach of duties (including fiduciary duties), unless the Independent Director acted in bad faith or engaged in willful misconduct. 

Section 10.3. Recycled Entity. Borrower hereby represents and warrants to Lender that:
(a) no Individual Borrower has, since its formation (i) failed to be duly formed, validly existing, and in good standing under the laws of the State of Delaware and each applicable state in which its Individual Property is located;
(ii) had any judgments or liens of any nature against it except for (A) tax liens not yet delinquent, (B) judgments which have been satisfied in full, (C) liens in connection with the Prior Loan and (D)

  
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Permitted Encumbrances; (iii) to such Individual Borrower’s knowledge, failed to comply in all material respects with all laws, regulations, and orders applicable to such Individual
Borrower or failed to receive all permits and licenses necessary for such Individual Borrower to operate its business as presently conducted and for which a failure to possess would materially adversely affect its condition, financial or otherwise
or the condition, value or ownership of the applicable Individual Property; (iv) been involved in any dispute with any taxing authority which is unresolved as of the Closing Date or failed to pay or cause to be paid all real estate taxes due
and payable with respect to the applicable Individual Property prior to the delinquency thereof (or, if later, then with all applicable penalties, interest and other sums due in connection therewith); (v) ever been party to any lawsuit, arbitration,
summons, or legal proceeding that is still pending and if adversely determined, would be reasonably likely to result in a Material Adverse Effect or that resulted in a judgment against it that has not been paid in full; (vi) failed to comply in
all material respects with all separateness covenants contained in its organizational documents since its formation; (vii) other than for Prior Loans, had any material contingent or actual obligations not related to the applicable Individual
Property, except as permitted by this Agreement; or (viii) been the product of, the subject of or otherwise involved in, in each case, any Division; (b) the Prior Loan has been satisfied or defeased in full on or before the date hereof
(other than environmental and other limited and customary indemnity obligations which survive the satisfaction or defeasance in full of the Prior Loan), (c) neither Borrower nor Guarantor has any remaining liabilities or obligations, actual or
contingent, in connection with the Prior Loan (other than environmental and other limited and customary indemnity obligations which survive the satisfaction or defeasance in full of the Prior Loan), (d) all collateral and security for the Prior Loan
(including any Individual Property that was collateral for any Prior Loan) has been released on or prior to the date hereof, (e) under no circumstance shall any recourse be had whatsoever against all or any portion of the Property to satisfy
the Prior Loan (or any portion thereof), nor shall all or any portion of the Property be available to satisfy any Prior Loan, (f) Borrower has provided Lender with true, correct and complete copies of (i) Borrower’s current financial
statements, and (ii) Borrower’s organizational documents since formation (and all amendments and modifications thereto) (collectively, “Borrower’s Organizational Documents”), and
(g) Borrower has at all times prior to the Closing Date conducted its affairs in substantial accordance with the provisions of Borrower’s Organizational Documents and the loan documents for the Prior Loan. 

ARTICLE XI 
 RESTRICTIONS
ON LIENS AND TRANSFERS 
 Section 11.1. Restrictions on Transfer and Encumbrance. Borrower
acknowledges that the identity, creditworthiness and experience of Borrower and its constituents are material to Lender’s decision to make the Loan. Except as expressly provided in this Agreement, or as otherwise may be consented to by Lender
(which consent may be withheld in Lender’s sole and absolute discretion), Borrower shall not cause or suffer to occur any (a) sale, transfer, pledge, or encumbrance of (i) all or any part of the Property or any direct or indirect
interest therein, or (ii) any direct or indirect ownership or beneficial interest in any Individual Borrower, irrespective of the number of tiers of ownership or tiers of beneficial interest, or any profits or proceeds of any such direct or
indirect ownership interest (other than the pledge of direct or indirect ownership interests in Borrower as collateral for the Mezzanine Loan), or(b) any change of Control of any Individual Borrower or any member or shareholder of any
Individual Borrower (any of the foregoing, a “Transfer”). Any consent by Lender, if granted, may be subject to satisfaction of such conditions as Lender may specify. The term “Transfer” shall also
include the creation or issuance of new stock, membership interests, partnership interests or other ownership or beneficial interests in any Individual Borrower or in any entity that owns, directly or indirect, any interest in any Individual
Borrower, or any merger, Division or consolidation of any such Person; provided, however, that in no event shall the term “Transfer” include any cash distributions made to any direct or indirect partner, stockholder, member, beneficiary or
other constituent of any Individual Borrower. 

  
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 Section 11.2. Permitted Transfers. Notwithstanding
anything to the contrary contained in Section 11.1, the following Transfers (the “Permitted Transfers”) shall be permitted without notice to Lender (unless otherwise required under this Agreement) or
Lender’s consent: 
 (A) Leases entered into in accordance with this Agreement; 

(B) Permitted Encumbrances; 

(C) any Transfer (but not the pledge), including the issuance, sale, conveyance, transfer, redemption or other disposition, of the
limited partnership interests in Operating Partnership or the stock in Guarantor, and including, without limitation, a Self Administration Transaction and the issuance, sale, conveyance, transfer, redemption or other disposition of the limited
partnership interests in Operating Partnership or the stock of Guarantor resulting from the consummation of a Self Administration Transaction, as long as the following conditions are and continue to be satisfied: (a) such Transfer shall not
result in a change in Control of any of Guarantor, Operating Partnership, any Mezzanine Borrower or any Individual Borrower; (b) SST II Mezz Borrower shall continue to be the sole member of each SSGT Borrower and each SST Borrower, SST II TRS
Mezz Borrower shall continue to be the sole member of SST II TRS Borrower and SSGT TRS Mezz Borrower shall continue to be the sole member of SSGT TRS Borrower, (c) Strategic Storage TRS II shall continue to be the sole member of SST II TRS Mezz
Borrower and SS Growth TRS shall continue to be the sole member of SSGT TRS Mezz Borrower, (d) Operating Partnership shall continue to be the sole member of SST II Mezz Borrower, Strategic Storage TRS II and SS Growth TRS, (e) Guarantor
shall continue to be the sole general partner of Operating Partnership and shall continue to own not less than fifty-one percent (51%) of (i) the direct common equity interests in Operating Partnership
and (ii) any other equity interests with voting rights similar in nature to those voting rights attributable to the common equity interests in Operating Partnership, (f) Affiliated Manager shall continue to be an Affiliate of, and
Controlled by, Sponsor, Guarantor or their respective Affiliates, (g) to the extent that any transfer would result in any Person (either itself or collectively with its affiliates) not shown on the organizational chart attached hereto as
Schedule 4.1(A) owning and equity interest (directly or indirectly) in any Individual Borrower, Operating Partnership or Guarantor which equals or exceeds, as applicable, (1) prior to a Securitization of the entire Loan, ten percent
(10%) or (2) after Securitization of the entire Loan, twenty percent (20%), Lender shall have received satisfactory Patriot Act, OFAC, AC Laws, AML Laws, credit and similar searches, provided, the foregoing shall not apply to any issuance of
preferred equity, and (h) such transfer shall not result in breach of any representation (if remade after giving effect to such non-compliance with the covenants of this Agreement regarding ERISA matters;

 (D) Property Releases in accordance with Section 2.13; 

(E) a Transfer and Assumption in accordance with Section 11.3; and 

(F) the transfer of a direct or indirect ownership interest in any Individual Borrower to Mezzanine Lender upon (i) a foreclosure
of the Mezzanine Loan, or (ii) any assignment-in-lieu of foreclosure of the Mezzanine Loan. 

Section 11.3. Permitted Property Transfer (Assumption). Notwithstanding the provisions of
Section 11.1, at any time other than during the Blackout Period, Borrower shall have the right to convey all of the Property to a new borrower (the “Transferee Borrower”) and have Transferee Borrower
assume all of Borrower’s obligations under the Loan Documents, and have replacement guarantors and indemnitors 

  
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replace the guarantors and indemnitors with respect to all of the obligations of the indemnitors and guarantors of the Loan Documents from and after the date of such transfer (collectively, a
“Transfer and Assumption”), subject to the terms and full satisfaction of all the conditions precedent set forth below in this Section 11.3: 

(A) no Default or Event of Default shall then exist; 

(B) Borrower shall provide Lender with not less than thirty (30) days prior written notice thereof, which notice shall contain
sufficient detail to enable Lender to reasonably determine that the Transferee Borrower complies with the requirements set forth herein; 

(C) Transferee Borrower shall be a SPE Bankruptcy Remote Entity; 

(D) Transferee Borrower shall be controlled by a Person whose identity, experience, financial condition and creditworthiness, including
net worth and liquidity, is reasonably acceptable to Lender. Lender shall have the right to approve or disapprove the proposed transfer based on its then current underwriting and credit requirements for similar loans secured by similar properties
which loans are sold in the secondary market, such approval not to be unreasonably withheld conditioned or delayed. In determining whether to give or withhold its approval of the proposed transfer, Lender shall consider the experience and track
record of Transferee Borrower and its principals in owning and operating facilities similar to the Property, the financial strength of Transferee Borrower, the Replacement Guarantor(s) and their respective principals, the general business standing
of Transferee Borrower, the Replacement Guarantor(s) and their respective principals and Transferee Borrower’s, the Replacement Guarantor(s)’ and their respective principals’ relationships and experience with contractors, vendors,
tenants, lenders and other business entities; provided, however, that, notwithstanding Lender’s agreement to consider the foregoing factors in determining whether to give or withhold such approval, such approval shall be given or withheld based
on what Lender determines to be commercially reasonable and, if given, may be given subject to such conditions as Lender may deem reasonably appropriate; 

(E) the Property shall be managed by a Qualified Manager; 

(F) Transferee Borrower shall have executed and delivered to Lender an assumption agreement in form and substance reasonably acceptable
to Lender; 
 (G) one or more replacement guarantors and indemnitors which (i) satisfies the Guarantor Financial Covenants,
(ii) who controls Transferee Borrower and owns a direct or indirect interest in Transferee Borrowers, (iii) is formed in (or, if such Person is an individual, is a citizen of), maintains its principal place of business in (or, if such
Person is an individual, maintains a primary residence in), and is subject to service in the United States and (iv) is otherwise approved by Lender (such approval not to be unreasonably withheld, conditioned or delayed) (each a
“Replacement Guarantor”) shall execute and deliver to Lender a guaranty of recourse obligations (in the same form as the Guaranty delivered to Lender by Guarantor on the date hereof, including, without limitation, the
continued maintenance and satisfaction of the Guarantor Financial Covenants) and an environmental indemnity agreement (in the same form as the Environmental Indemnity delivered to Lender by Guarantor on the date hereof), pursuant to which, in each
case, such Replacement Guarantor(s) agree(s) to be liable under each such guaranty of recourse obligations and environmental indemnity agreement from and after the date of such Transfer and Assumption (whereupon such replacement guarantor and
indemnitor shall be the “Guarantor” for all purposes set forth in this Agreement); 

  
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 (H) Transferee Borrower shall submit to Lender true, correct and complete copies of
all documents reasonably requested by Lender concerning the direct and indirect ownership, organization and existence of Transferee Borrower and each Replacement Guarantor; 

(I) Lender shall have received Rating Agency Confirmation of the Transfer and Assumption; 

(J) counsel to Transferee Borrower and each Replacement Guarantor shall deliver to Lender opinions in form and substance reasonably
satisfactory to Lender as to such matters as Lender shall reasonably require, which may include opinions as to substantially the same matters as were required in connection with the origination of the Loan (including an Additional Insolvency
Opinion); 
 (K) satisfactory Patriot Act, OFAC, AC Laws, AML Laws, credit and similar searches shall have been received by Lender
with respect to (i) each Replacement Guarantor, (ii) Transferee Borrower, (iii) any Person that Controls Transferee Borrower or owns a direct or indirect equity interest in Transferee Borrower which equals or exceeds, as applicable,
(1) prior to a Securitization of the entire Loan, ten percent (10%) or (2) after Securitization of the entire Loan, twenty percent (20%), and (iv) any other Person reasonably required by Lender in order for Lender to fulfill its
then-current Patriot Act compliance guidelines; 
 (L) Borrower shall cause to be delivered to Lender, an endorsement (relating to the
change in the identity of the vestee and execution and delivery of the Transfer and Assumption documents) to each Title Policy in form and substance acceptable to Lender insuring that fee simple or leasehold title to each Individual Property, as
applicable, is vested in Transferee Borrower (subject to Permitted Encumbrances); 
 (M) Transferee Borrower and/or Borrower, as the
case may be, shall deliver to Lender, upon such conveyance, a transfer fee equal to one percent (1%) of the outstanding principal balance of the Loan; 

(N) Borrower shall pay or cause to be paid all of Lender’s reasonable out-of-pockets costs and expenses in connection with the Transfer and Assumption (including, without limitation, Lender’s counsel fees and disbursements) and third party costs and expenses, including,
without limitation, all recording fees, title insurance premiums and mortgage and intangible taxes and costs and expenses of the Rating Agencies; and 

(O) Such Transfer shall be permitted pursuant to the Mezzanine Loan Documents and the Property Documents. 

Section 11.4. Costs and Expenses. Borrower shall pay all reasonable costs and expenses actually
incurred by Lender in connection with any Transfer, whether or not such Transfer is deemed to be a Permitted Transfer, including, without limitation, all reasonable fees and expenses of Lender’s outside counsel, and the cost of any required
counsel opinions related to REMIC or other securitization or tax issues and any Rating Agency fees. 

Section 11.5. Due on Sale. Lender shall not be required to demonstrate any actual impairment of its
security or any increased risk of default hereunder in order to declare the Loan immediately due and payable upon a Transfer in violation of this Agreement. This provision shall apply to every Transfer regardless of whether voluntary or not, or
whether or not Lender has consented to any previous Transfer. 

  
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 ARTICLE XII 

RECOURSE; LIMITATIONS ON RECOURSE 

Section 12.1. Limitations on Recourse. Subject to the provisions and qualifications of this
Article, Lender shall not enforce the liability and obligation of Borrower to perform and observe the obligations contained in the Note, this Agreement, the Security Instruments or the other Loan Documents by any action or proceeding wherein a money
judgment shall be sought against Borrower, except that Lender may bring a foreclosure action, an action for specific performance or any other appropriate action or proceeding to enable Lender to enforce and realize upon its interest under the Note,
this Agreement, the Security Instruments and the other Loan Documents, or in the Property, the Rents, or any other Collateral pursuant to the Loan Documents; provided, however, that, except as specifically provided herein, any judgment
in any such action or proceeding shall be enforceable against Borrower only to the extent of Borrower’s interest in the Property, in the Rents and in any other Collateral, and Lender, by accepting the Note, this Agreement, the Security
Instruments and the other Loan Documents, shall not sue for, seek or demand any deficiency judgment against Borrower in any such action or proceeding under or by reason of or under or in connection with the Note, this Agreement, the Security
Instruments or the other Loan Documents. Notwithstanding anything to the contrary in this Agreement, the Security Instrument or any of the Loan Documents, the provisions of this Section 12.1 and the other provisions of the
Loan Documents shall not, however: (a) constitute a waiver of any right which Lender may have under Section 506(a), 506(b), 1111(b) or any other provisions of the Bankruptcy Code to file a claim for the full amount of the Obligations
secured by the Security Instruments or to require that all Collateral shall continue to secure all of the Obligations owing to Lender in accordance with the Loan Documents; (b) constitute a waiver, release or impairment of any obligation
evidenced or secured by any of the Loan Documents; (c) impair the right of Lender to name Borrower as a party defendant in any action or suit for foreclosure and sale under the Security Instruments or other Loan Documents; (d) impair the
right of Lender to obtain the appointment of a receiver; (e) impair the enforcement of the Security Instruments; or (f) constitute a prohibition against Lender to seek a deficiency judgment against Borrower (to be realized, subject to
Sections 12.2 and 12.3 below, solely from the Collateral and Borrower’s equity interest, if any, in the Collateral) in order to fully realize the security granted by the Security Instruments and other Loan Documents or to commence
any other appropriate action or proceeding in order for Lender to exercise its remedies against the Property or any other Collateral. 

Section 12.2. Full Springing Recourse. Notwithstanding Section 12.1,
upon the occurrence of any of the events listed below in clauses (a) through (k), Borrower and Guarantor, jointly and severally, shall be personally liable for the entire Loan and all the other Obligations, all of which shall be the personal
obligation and liability of Borrower and Guarantor to Lender under this Agreement, and the provisions of Section 12.1 shall not in any way limit or constitute a waiver of the right of Lender to enforce the liability and
obligation of Borrower and Guarantor, by money judgment or otherwise: (a) Borrower fails to obtain Lender’s prior written consent to any Transfer, as required by Article XI of this Agreement or by the Security Instruments, other
than a Permitted Transfer, (b) any Individual Borrower is substantively consolidated with any other Person; unless such consolidation was involuntary and not consented to by Borrower or Guarantor and is discharged, stayed or dismissed within
ninety (90) days following the occurrence of such consolidation, (c) a voluntary bankruptcy filing under the Bankruptcy Code or any other federal or state bankruptcy or insolvency law by any Individual Borrower; (e) the filing of an
involuntary petition against any Individual Borrower under the Bankruptcy Code or any other Federal or state bankruptcy or insolvency law, (f) Borrower, Operating Partnership or Guarantor, or any of their respective Affiliates filing an answer
consenting to or otherwise acquiescing or joining in any involuntary petition filed against any Individual Borrower under the Bankruptcy Code or any other Federal or state bankruptcy or insolvency law (but excluding filings and/or responses that are
legally required so long as such filings do not affirmatively consent to or join in support of such petition); (g) Borrower, Operating Partnership or 

  
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Guarantor or any of their respective Affiliates consenting to or otherwise acquiescing or joining in an application for the appointment of a custodian, receiver (except a receiver requested by
Lender), trustee, or examiner for any Individual Borrower or any portion of the Property; (h) any Individual Borrower making a general assignment for the benefit of creditors, or admitting, in writing or in any legal proceeding, its insolvency
or inability to pay its debts as they become due; or (i) Borrower failing to obtain Lender’s prior written consent to any Indebtedness or voluntary Lien encumbering any Individual Property as required by this Agreement or the Security
Instruments other than Permitted Indebtedness or Permitted Encumbrances. Notwithstanding Section 12.2(e) above, neither Borrower nor Guarantor shall be personally liable by reason of an involuntary bankruptcy involving
an Individual Borrower, Operating Partnership or Guarantor, provided that either (1) such involuntary bankruptcy is not solicited or procured by Borrower, Operating Partnership, Guarantor, or any Affiliate of any of them and is finally
dismissed within ninety (90) days of its original filing date, or (2) all of the following conditions are satisfied: (A) such involuntary bankruptcy is not solicited or procured by Borrower, Guarantor, Operating Partnership or any of
their respective Affiliates; (B) Borrower, Operating Partnership and Guarantor (and any Affiliate of any of them to the extent that they have interests in such case) shall consent to, support and perform all actions taken or requested by Lender
to obtain relief from the automatic stay and to obtain adequate protection; (C) none of Borrower, Guarantor, Operating Partnership nor any Affiliate of any of them shall propose or in any way support any plan of reorganization which in any way
modifies or seeks to modify any provisions of the Loan Documents or any of Lender’s rights under any of the Loan Documents; and (D) none of Borrower, Operating Partnership, Guarantor, nor any of their respective Affiliates shall propose or
consent to any use of cash collateral except with Lender’s consent, which may be withheld in Lender’s sole discretion. 

Section 12.3. Recourse for Damages. Notwithstanding Section 12.1,
Borrower and Guarantor, jointly and severally, shall be personally liable for, and the provisions of Section 12.1 shall not in any way limit or constitute a waiver of the right of Lender to enforce the liability and
obligation of Borrower and Guarantor, by money judgment or otherwise, for the following, all of which shall be the personal obligation and liability of Borrower and Guarantor to Lender under this Agreement: (a) without limiting the provisions
of Section 12.2 above, the amount of (i) any insurance proceeds, condemnation awards or other sums or payments attributable to the Property which are not applied in accordance with the provisions of the Loan Documents
or are misapplied or misappropriated by any Individual Borrower or Affiliated Manager or at the direction of, or with the consent or acquiescence of, any Individual Borrower or Affiliated Manager, as the case may be; (ii) all Rents and Receipts
of the Property received or collected by or on behalf of Borrower or any Borrower Party and not applied in accordance with the Loan Documents and/or otherwise received after the occurrence and during the continuance of an Event of Default (other
than by Lender or Servicer) and not applied in accordance with the Loan Documents; (iii) any Security Deposits or Rents or early lease termination fees collected in advance (other than by Lender or Servicer) or any other funds held by Borrower
for the benefit of another party, in each case which are misappropriated, or which are not delivered to Lender (including the transfer of any letters of credit to Lender as beneficiary thereof), after the occurrence and during the continuance of an
Event of Default, or which are not applied in accordance with the provisions of this Agreement, and any misappropriation or conversion of proceeds of any letter of credit posted by any Tenant; and (iv) all reasonable costs and expenses,
including reasonable attorneys’ fees and expenses, actually incurred in collecting any amount due under the Loan Documents which is a recourse obligation of Borrower or Guarantor as described in Section 12.2 or this
Section 12.3, or an obligation of Borrower under the Environmental Indemnity; and (b) without limiting the provisions of Section 12.2 or clause (a) above, any liability, loss, damage,
cost, claim, expense or other obligation (including, without limitation, reasonable attorneys’ fees and expenses) actually incurred by Lender resulting from any and all of the following: 

(i) any failure to comply with the provisions of Section 12.2 or clause (a) above; 

  
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 (ii) fraud or intentional misrepresentation by or at the direction of any Borrower Party or
Affiliated Manager in this Agreement or any other Loan Document or otherwise in connection with the Loan; 
 (iii) gross negligence or
willful misconduct of any of the Borrower Parties or Affiliated Manager; 
 (iv) breach by a Borrower Party or Affiliated Manager of any
legal requirement (including RICO) or any criminal act or activity (or alleged criminal act or activity) mandating the forfeiture, seizure or loss of the Property or any portion thereof; 

(v) intentional material physical waste of any Individual Property by any Borrower Party or any Person at the direction of any of the
foregoing (excluding any waste to the extent resulting from the insufficiency of cash flow or Lender’s failure to disburse funds from the Reserves held for such repairs and/or maintenance items, so long as Lender’s access to such sums was
not restricted or constrained in any manner); 
 (vi) wrongful removal or disposal of any portion of any Property during the existence of an
Event of Default or damage to any portion of any Property caused by willful misconduct or gross negligence of any Borrower Party or any Person at the direction of any of the foregoing; 

(vii) without limiting the provisions of clause (a) above (and without duplication of any amounts paid under clause (a) above), the
misappropriation by or on behalf of Borrower of any funds due under the Loan Documents; 
 (viii) failure by Borrower to obtain and
maintain, from time to time, the fully paid for insurance policies in accordance with Section 6.1 of this Agreement (excluding, if the insurance policies are not blanket policies, any such failure to the extent resulting
from insufficiency of cash flow or Lender’s failure to disburse Reserve funds held for such amounts, so long as Lender’s access to such sums was not restricted or constrained in any manner); 

(ix) if Borrower, Guarantor, any other Borrower Party or any of their respective Affiliates, or any other person directly or indirectly
responsible for the management of Borrower or liable for repayment of Borrower’s obligations under the Loan (whether as maker, endorser, guarantor, surety, general partner or otherwise), in bad faith, frivolously or without merit, seeks any
defense, judicial intervention or injunctive or other equitable relief of any kind, or asserts in a pleading filed in connection with a proceeding any defense against Lender or any right in connection with any security for the Loan, to materially
delay any foreclosure against any of the Property or Collateral or any other exercise by Lender of its remedies under the Loan Documents, which attempts shall include, without limitation, any claim that any Loan Document is invalid or unenforceable;

 (x) Unless such amounts are being contested by Borrower in accordance with, and satisfying the requirements of,
Section 7.3 of this Agreement, Borrower’s failure to pay any real estate taxes, assessments, costs and other charges for labor or materials or other charges, the non-payment of
which may result in (or have resulted in) a Lien on any portion of the Property (excluding any such failure to the extent resulting from insufficiency of cash flow or Lender’s failure to disburse Reserve funds held for such amounts, so long as
Lender’s access to such sums was not restricted or constrained in any manner); 
 (xi) payment by Borrower of any fees or commissions
to any Affiliate of Borrower after the occurrence of an Event of Default or as otherwise prohibited by the Loan Documents; and/or 

  
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 (xii) Borrower’s breach of any representation, warranty or covenant set forth in
Article X or Section 7.1(B) or failure to maintain its status as a SPE Bankruptcy Remote Entity, as required by, and in accordance with, the terms and provisions of this Agreement or the Security Instruments. 

Section 12.4. Miscellaneous. No provision of this Article shall (a) affect (i) the
enforcement of, or (ii) the personal liability of and recourse against any guarantor or indemnitor (including without limitation, Guarantor) and the assets of any such guarantor and indemnitor for all liabilities and obligations under the
Guaranty, the Environmental Indemnity or any guaranty or similar agreement executed in connection with the Loan, (b) affect the enforcement of, or (ii) the personal liability of and recourse against Borrower under the Environmental
Indemnity, (c) release or reduce the debt evidenced by the Note, (d) impair the lien of the Security Instruments, this Agreement or any other Loan Document, or (e) limit Lender’s ability to obtain a deficiency judgment or
judgment on the Note or otherwise against any Borrower Party to the extent necessary to obtain any amount for which such Borrower Party is personally liable in accordance with this Article or any other Loan Document. 

Section 12.5. Event of Default not Affected by Automatic Stay. If
an actual Event of Default is prevented from occurring by reason of the automatic stay in any bankruptcy or by reason of any provision in the Bankruptcy Code or similar law which prevents or tolls the giving of default notice, the lapse of time in
which to cure, or the declaration or maturation of an Event of Default, then nonetheless an Event of Default shall be deemed to occur for purposes of this Article if the applicable underlying condition or event shall have occurred (and in any case
where notice and opportunity to cure otherwise would be required under this Agreement but is prevented as aforesaid, thirty (30) days shall have passed after the first occurrence of the underlying condition or event). 

Section 12.6. Recourse Obligations of Borrower. The obligations and liabilities of Borrower for which
Borrower shall be personally liable pursuant to this Article XII are referred to herein and in the other Loan Documents as the “Guaranteed Recourse Obligations of Borrower”. 

ARTICLE XIII 
 ASSIGNMENT
BY LENDER; PARTICIPATIONS; SECURITIZATION; 
 SEVERED LOAN DOCUMENTS; ADMINISTRATION 

Section 13.1. Assignments and Participations. Borrower acknowledges that Lender may on or after
the Closing Date sell and assign one or more participation interests in and to the Loan, or pledge, hypothecate or encumber, or sell and assign all or any portion of the Loan, to or with such domestic or foreign banks, insurance companies, pension
funds, trusts or other institutional lenders or other Persons, parties or investors (including, without limitation, grantor trusts, owner trusts, special purpose corporations, REMICs, real estate investment trusts or other similar or comparable
investment vehicles) as may be selected by Lender in its sole and absolute discretion and on terms and conditions satisfactory to Lender in its sole and absolute discretion. Each Note and/or Component comprising the Loan may be subject to one or
more Secondary Market Transactions. Borrower and all other Persons associated or connected with the Loan or the Property shall cooperate with Lender in all reasonable respects, in connection with the sale of participation interests in, or the
pledge, hypothecation or encumbrance or sale or assignment of all or any portion of, the Loan, and shall, in connection therewith, (1) execute and deliver, and shall use commercially reasonable efforts to cause the other Borrower Parties and
Sponsor Affiliated Manager to execute and deliver, such estoppels, certificates, instruments and documents as may be reasonably requested by Lender, and (2) if requested by Lender, Borrower shall execute and deliver, and shall use commercially
reasonable efforts to cause the other Borrower Parties and Sponsor Affiliated Manager to execute and deliver, such documents and instruments as may be necessary to split the Loan into two or more loans evidenced by separate sets of notes and secured
by separate sets of other related Loan Documents, or to terminate any 

  
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cross-default provisions with respect to any other loan, to the full extent reasonably required by Lender to facilitate the sale of participation interests in the Loan or the sale of the Loan or
the making of a loan to Lender secured by the Loan, it being agreed that (a) the Loan Documents securing the Loan as so split will have such priority of lien as may be specified by Lender, and (b) the retained interest of Lender in the
Loan as so split shall be allocated to or among one or more of such separate loans in a manner specified by Lender in its sole and absolute discretion; provided, however, in each such instance (i) the outstanding principal balance of all the
resulting notes evidencing the Loan (or components of such notes) immediately after the effective date of such modification equals the outstanding principal balance of the Loan immediately prior to such modification and the weighted average of the
interest rates for all such notes (or components of such notes) immediately after the effective date of such modification equals the interest rate of the original Note immediately prior to such modification, (ii) neither Borrower, the other
Borrower Parties nor Sponsor Affiliated Manager shall be required to enter into any modification or amendment to this Agreement or the other Loan Documents or any other document, instrument or certificate if such modification, amendment, document,
instrument or certificate would adversely affect or diminish the respective rights or increase their respective obligations and liabilities as presently set forth in this Agreement and in the other Loan Documents, in each case other than to a de
minimis extent, and other than resulting from any componentization of the Loan pursuant to Section 13.6, including any “rate creep” that would occur as a result of applications of principal payments (whether
voluntary, mandatory, involuntary or otherwise occurring, including without limitation partial prepayments associated with Property Releases and applications of Casualty Proceeds and Condemnation Proceeds) and/or upon occurrence and
during the continuance of an Event of Default, and (iii) Borrower shall not be required to incur any costs and expenses in the performance of Borrower’s obligations under this Section 13.1 other than expenses of
Borrower’s counsel, accountants and consultants. 
 Section 13.2. Effect of Assignment.
Pursuant to any assignment or participation of all or any portion of the Loan as contemplated in this Section to any Person (an “Assignee”) (a) all references to Lender in this Agreement and in any Loan Document (or
to an individual assigning Co-Lender in the event an individual Co-Lender makes such assignment rather than an assignment in whole by Lender) shall be deemed to refer to
such assignee or successor in interest and such assignee or successor in interest shall thereafter stand in the place of Lender (or in the case of an individual assigning Co-Lender in the event an individual Co-Lender makes such assignment rather than an assignment in whole by Lender, such assignee of or successor-in-interest to such Co-Lender) in all respects with respect to each individual Note or portion of the Loan assigned to it, (b) Lender (or, if applicable, each Co-Lender) may transfer its
obligations hereunder and under the other Loan Documents (or may transfer the portion thereof corresponding to the transferred portion of the Obligations) and, except as otherwise specified herein, any Assignee shall succeed to the rights and
obligations of Lender (or, if applicable, such Co-Lender) hereunder in respect of the transferred portion, and (c) Lender (or the applicable Co-Lender) shall
relinquish its rights and be released from its obligations hereunder and under the Loan Documents as to the transferred portion. The liabilities of Lender (and each Co-Lender) and each of the other Assignees
shall be separate and not joint and several. Neither Lender (or any Co-Lender) nor any Assignee shall be responsible for the obligations of any other Assignee or any other
Co-Lender. 
 Section 13.3. Securitization. 

(A) Lender, at its option, may elect to effect a Securitization of all or any portion of the Loan (including any Component thereof). In
such event and upon request by Lender to seek to effect such a Securitization, Borrower shall promptly as reasonably practicable thereafter cooperate in all reasonable respects with Lender in connection with the Securitization to amend this
Agreement and the other Loan Documents, and to execute such additional documents, in order to bifurcate the Loan into two or more constituent loans, to terminate any cross-default provisions with respect to any other loan to the extent reasonably
requested by Lender, or to effect such other changes as may be reasonably necessary or 

  
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desirable in connection with a Securitization or requested by a Rating Agency, provided, however, in each such instance (i) the outstanding principal balance of all the resulting notes
evidencing the Loan (or components of such notes) immediately after the effective date of such modification equals the outstanding principal balance of the Loan immediately prior to such modification and the weighted average of the interest rates
for all such notes (or components of such notes) immediately after the effective date of such modification equals the interest rate of the original Note immediately prior to such modification, (ii) neither Borrower, the other Borrower Parties
nor Sponsor Affiliated Manager shall be required to enter into any modification or amendment to this Agreement or the other Loan Documents or any other document, instrument or certificate if such modification, amendment, document, instrument or
certificate would adversely affect or diminish the respective rights or increase their respective obligations and liabilities as presently set forth in this Agreement and in the other Loan Documents, in each case other than to a de minimis extent,
and other than resulting from any componentization of the Loan pursuant to Section 13.6, including any “rate creep” that would occur as a result of applications of principal payments (whether voluntary, mandatory,
involuntary or otherwise occurring, including without limitation partial prepayments associated with Property Releases and applications of Casualty Proceeds and Condemnation Proceeds) and/or upon occurrence and during the continuance
of an Event of Default, and (iii) Borrower shall not be required to incur any costs and expenses in the performance of Borrower’s obligations under this Section 13.3(A) other than expenses of Borrower’s
counsel, accountants and consultants. 
 (B) If requested by Lender, Borrower shall assist Lender in satisfying the market standards
to which Lender customarily adheres or which may be reasonably required in the marketplace or by the Rating Agencies in connection with any Secondary Market Transactions, including, without limitation, to: 

(i) provide (x) updated financial and other information with respect to the Property, the business operated at the Property, Borrower,
Guarantor, Sponsor and Property Manager, and (y) at Lender’s cost and expense, updated appraisals, market studies, environmental reviews (Phase I’s and, if appropriate, Phase II’s), property condition reports and other due
diligence investigations of the Property (collectively, the “Updated Information”), together, if customary, with appropriate verification of the Updated Information through letters of auditors or opinions of counsel
reasonably acceptable to Lender and the Rating Agencies; 
 (ii) provide such other information as may be reasonably requested in connection
with the preparation of a private placement memorandum or registration statement required to privately place or publicly distribute the Securities in a manner which does not conflict with applicable federal or state securities laws (provided that
Borrower shall not be required to provide any information for which the disclosure would be a violation of any Lease); 
 (iii) provide new
and/or updated opinions of counsel, which may be relied upon by Lender, the Rating Agencies and their respective counsel, agents and representatives, as to substantive non-consolidation, matters of Delaware
and federal bankruptcy law relating to limited liability companies, and any other opinion customary in Secondary Market Transactions or required by the Rating Agencies with respect to the Property, the Loan Documents, Borrower, Guarantor and
Borrower’s Affiliates, which counsel and opinions shall be reasonably satisfactory in form and substance to Lender and the Rating Agencies; 

(iv) provide updated, as of the closing date of the Secondary Market Transaction, representations and warranties made in the Loan Documents
and such additional representations and warranties as the Rating Agencies may require that are customary in Secondary Market Transactions; and 

  
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 (v) amending any Individual Borrower’s or any partner or member or shareholder of such
Individual Borrower’s organizational documents, and 
 (vi) providing such information regarding the Property, Collateral and Borrower,
the other Borrower Parties and their respective Affiliates as may be requested by a Rating Agency or potential investors in Securities or otherwise required in connection with an election of REMIC or other tax status and ongoing administration and
reporting by any trust formed in connection with the Securitization (provided that Borrower shall not be required to provide any information for which the disclosure would be a violation of any Lease). 

Borrower shall not be required to incur any costs or expenses in the performance of its obligations under this Section 13.3(B) other
than expenses of Borrower’s counsel, accountants and consultants. In addition, neither Borrower, the other Borrower Parties nor Sponsor Affiliated Manager shall be required under this Section 13.3(B) to enter into any
modification or amendment to this Agreement or the other Loan Documents or any other document, instrument or certificate if such modification, amendment, document, instrument or certificate would adversely affect or diminish the respective rights or
increase their respective obligations and liabilities as presently set forth in this Agreement and in the other Loan Documents, in each case other than to a de minimis extent, and other than resulting from any componentization of the Loan pursuant
to Section 13.6, including any “rate creep” that would occur as a result of applications of principal payments (whether voluntary, mandatory, involuntary or otherwise occurring, including without limitation
partial prepayments associated with Property Releases and applications of Casualty Proceeds and Condemnation Proceeds) and/or upon occurrence and during the continuance of an Event of Default. 

Section 13.4. Other Business. Lender, each Assignee and each participant and their respective
Affiliates may accept deposits from, lend money to, act as trustee under indentures of, and generally engage in any kind of business with the Borrower Parties, or any of them, any Affiliate of a Borrower Party, any of Borrower’s subsidiaries
and any Person who may do business with or own interests in or securities of any Borrower Party or any such Affiliate or subsidiary, without any duty to account therefor. 

Section 13.5. Privity of Contract. This Agreement is being entered into by Lender
individually and as agent for all present and future Assignees, and privity of contract is hereby created among Lender and all present and future Assignees, on the one hand, and Borrower, on the other hand. 

Section 13.6. Severed Loan Documents; Componentization. 

(A) (1) Lender shall have the right from time to time to sever the Note and the other Loan Documents into one or more separate notes
(including senior and subordinate notes), one or more “component” notes, pledge agreements and other security documents or documents evidencing the Loan (the “Severed Loan Documents”) in such denominations as Lender
shall determine in its sole discretion for purposes of evidencing and enforcing its rights and remedies provided hereunder, (2) Borrower shall execute and deliver to Lender from time to time, within three (3) Business Days after the
request of Lender, a severance and such other documents as Lender shall reasonably request in order to effect the severance described in the preceding clause (1), all in form and substance reasonably satisfactory to Lender, (3) Borrower hereby
absolutely and irrevocably appoints Lender as its true and lawful attorney, coupled with an interest, in its name and stead to make and execute all documents reasonably necessary or desirable to effect the aforesaid severance, Borrower ratifying all
that its said attorney shall do by virtue thereof; provided, however, Lender shall not make or execute any such documents under such power until three (3) Business Days after written notice has been given to Borrower by Lender of Lender’s
intent to exercise its rights under such power, and (4) Lender may require Borrower to modify the Loan in order to reduce the number of components of the Note or Notes, revise the interest rate for each component, reallocate the

  
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principal balances of the Notes and/or the components, increase or decrease the monthly debt service payments for each component or eliminate the component structure and/or the multiple note
structure of the Loan (including the elimination of the related allocations of principal and interest payments); provided in each instance (i) that the outstanding principal balance of all components immediately after the effective date of such
modification equals the outstanding principal balance of the Loan immediately before the effective date of such modification and the weighted average of the interest rates for all such components of such notes immediately after the effective date of
such modification equals the interest rate of the original Loan immediately prior to such modification, (ii) neither Borrower, the other Borrower Parties nor Sponsor Affiliated Manager shall be required to enter into any modification or
amendment to this Agreement or the other Loan Documents or any other document, instrument or certificate if such modification, amendment, document, instrument or certificate would adversely affect or diminish the respective rights or increase their
respective obligations and liabilities as presently set forth in this Agreement and in the other Loan Documents, in each case other than to a de minimis extent, and other than resulting from any componentization of the Loan pursuant to this
Section 13.6, including any “rate creep” that would occur as a result of applications of principal payments (whether voluntary, mandatory, involuntary or otherwise occurring, including without limitation partial
prepayments associated with Property Releases and applications of Casualty Proceeds and Condemnation Proceeds) and/or upon occurrence and during the continuance of an Event of Default, and (iii) Borrower shall not be required to
incur any costs or expenses in the performance of its obligations under this Section 13.6(A) other than expenses of Borrower’s counsel, accountants and consultants. 

(B) Without limiting Section 13.6(A) above, upon written notice from Lender (each a
“Componentization Notice”), the Loan will be deemed to have been divided into multiple Components (or if previously divided into Components, re-allocated to the Components specified by
Lender in the most recent Componentization Notice delivered by Lender to Borrower, which shall constitute the Componentization Notice for all purposes hereunder). Each Component shall have such notional balance and interest rate equal to the sum of
LIBOR plus such amount as Lender shall specify in such notice (the “Component Spread”), provided that that the sum of the principal balances of all Components shall equal the then-current outstanding principal balance of the
Loan, and the weighted average of the Component Spreads, weighted on the basis of their respective principal balances, shall initially equal the percentage set forth in clause (i) of the definition of “Spread”. Borrower shall be
treated as the obligor with respect to each of the Components and acknowledges that each Component may be individually beneficially owned by a separate Person. The Components need not be represented by separate physical promissory notes, but if
requested by Lender, each Component shall be represented by a separate physical promissory note, in which case the Borrower shall execute and return to the applicable holder each such promissory note in substitution of one or more of the promissory
notes constituting the Note, as applicable, in substantially the same form as the Note executed and delivered on the Closing Date (except that the principal balance of such promissory note shall be the principal balance of the applicable Component),
promptly following Borrower’s receipt of an execution copy thereof and upon such execution and delivery of such replacement promissory note or notes, Lender shall return the originals of such substituted note or notes to Borrower. Monthly Debt
Service Payment Amounts shall be applied to the Components in accordance with Section 2.3(A) and partial prepayments of the Loan shall be applied to the Components in accordance with
Section 2.8(E), which may result in “rate creep”. Borrower shall not be required to incur any costs or expenses in the performance of its obligations under this Section 13.6(B) other than
expenses of Borrower’s counsel, accountants and consultants. 
 Section 13.7. Cooperation; Securitization Indemnity.

 (A) Borrower and Guarantor agree to cooperate with Lender (and agree to cause their respective officers and representatives to
cooperate) in connection with any transfer made or any Securities created pursuant to this Article XIII, including, without limitation, the delivery of an estoppel certificate 

  
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reasonably required hereunder and such other documents as may be reasonably requested by Lender, and the execution of amendments to this Agreement, the Note, the Security Instruments and other
Loan Documents and Borrower’s organizational documents as reasonably requested by Lender; provided, however, that neither Borrower, the other Borrower Parties nor Sponsor Affiliated Manager shall be required to enter into any modification or
amendment to this Agreement or the other Loan Documents or any other document, instrument or certificate if such modification, amendment, document, instrument or certificate would adversely affect or diminish the respective rights or increase their
respective obligations and liabilities as presently set forth in this Agreement and in the other Loan Documents, in each case other than to a de minimis extent, and other than resulting from any componentization of the Loan pursuant to
Section 13.6, including any “rate creep” that would occur as a result of applications of principal payments (whether voluntary, mandatory, involuntary or otherwise occurring, including without limitation partial
prepayments associated with Property Releases and applications of Casualty Proceeds and Condemnation Proceeds) and/or upon occurrence and during the continuance of an Event of Default. 

(B) Borrower grants to Lender the right to distribute and disclose in any Disclosure Document, in any promotional or marketing materials
that are prepared by or on behalf of Lender in connection with any Secondary Market Transaction, in connection with any oral or written presentation made by or on behalf of Lender in connection with any Secondary Market Transaction, or as may be
reasonably required by any Investors or prospective Investors or any Rating Agency in connection with any Secondary Market Transaction including without limitation to any Investor or any Rating Agency rating securities or the Loan, all documents and
information which Lender now has or may hereafter acquire relating to the Loan, any Borrower Party, any guarantor, any indemnitor, the Collateral and/or the Property, which shall have been furnished by Borrower, any guarantor, any indemnitor, or any
party to any Loan Document, or which was otherwise furnished to Lender in connection with the Loan, as Lender in its reasonable discretion determines necessary or desirable. Borrower shall not be required to incur any costs or expenses in the
performance of its obligations under this Section 13.7(A) other than expenses of Borrower’s counsel, accountants and consultants. 

(C) [Reserved]. 

(D) Borrower shall provide in connection with each of (i) a preliminary and a final private placement memorandum or registration
statement or (ii) a preliminary and final prospectus or prospectus supplement, as applicable, in each case used in connection with a Securitization, an agreement (A) certifying that Borrower has examined the following sections of the
Disclosure Documents: (1) with respect to the term sheet, the sections entitled “Executive Summary and Transaction Highlights,” “Portfolio Overview,” “Sponsorship and Management Overview” and “Historical and
Underwritten Financials” (or sections similarly titled), and (2) with respect to the other Disclosure Documents, those sections of the Disclosure Documents entitled “Risk Factors,” “Description of the Properties,”
“Description of the Borrowers and the Borrower Sponsors and Related Parties,” “Description of the Property Manager and the Management Agreement,” “Description of the Mezzanine Borrower,” “Sources and Uses,”
“Annex A—Mortgage Loan Collateral Schedule,” “Annex E – Representations and Warranties of the Borrowers,” “Annex G—Borrowers Organizational Charts” and “Annex H – Borrower Names” (or
sections similarly titled) and in the portions of the “Summary of Offering Circular” that relate to the foregoing, as each of the foregoing in clauses (1) and (2) relates to the Borrower Parties, their Affiliates, the
Property Manager and the Property (and in all cases excluding any summary of the Loan Documents or terms of the Loan) (the foregoing in clauses (1) and (2), collectively, the “Relevant Sections”), and (2) the
Relevant Sections do not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made therein, in the light of the circumstances under which they were made, not misleading,
(B) indemnifying Lender (and for purposes of this Section 13.7, Lender hereunder shall include its officers and directors), the Affiliate of Lender (“Lender Affiliate”) that has filed the
registration statement relating to the Securitization (the “Registration Statement”), each of its directors, each of its officers who have 

  
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signed the Registration Statement and each Person that controls or is under common control with the Lender Affiliate within the meaning of Section 15 of the Securities Act or Section 20
of the Exchange Act (collectively, the “Lender Group”), the issuer of the Securities (the “Issuer” and each of its officers, director and each Person who controls or is under common control with the
Issuer within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) and any placement agent or underwriter with respect to the Securitization, each of their respective directors and each Person who controls or
is under common control with Lender Affiliate or any other placement agent or underwriter within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act (collectively, the “Underwriter
Group”) for any Liabilities to which Lender, the Lender Group, the Issuer or the Underwriter Group may become subject insofar as the Liabilities arise out of or are based upon any untrue statement or alleged untrue statement of any
material fact contained in the Relevant Sections or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein, in the light of
the circumstances under which they were made, not misleading and (C) agreeing to reimburse Lender, the Lender Group and/or the Underwriter Group for any legal or other expenses reasonably incurred by Lender, the Lender Group, the Issuer and the
Underwriter Group in connection with investigating or defending the Liabilities; provided, however, that Borrower will be liable in any such case under clauses (B) or (C) above only to the extent that any the related Liability arises out of or
is based upon any such untrue statement or omission made therein in reliance upon and in conformity with information furnished to Lender by or on behalf of Borrower in connection with the preparation of the Disclosure Document or in connection with
the underwriting or closing of the Loan, including, without limitation, financial statements of Borrower, operating statements and rent rolls with respect to the Property. The indemnification provided for in clauses (B) and (C) above shall be
effective whether or not the indemnification agreement described above is provided. The aforesaid indemnity will be in addition to any liability which Borrower may otherwise have. Borrower’s obligations pursuant to this
Section 13.7, including any indemnity obligations, with respect to the Provided Information and Relevant Sections shall not include, (1) any untrue statements or omissions about which Borrower has provided notice in
writing to Lender prior to the distribution of the Disclosure Document, (2) any statements which are derived from thirty-party information not prepared by or on behalf of Borrower or Guarantor with respect to which Borrower has provided notice
to Lender in writing prior to the distribution of the Disclosure Document that Borrower is unable to verify, (3) any Disclosure Document (or any provisions thereof) with respect to which Borrower is not provided a reasonable opportunity to
review, it being acknowledged and agreed that Borrower shall in all events have five Business Days to review the initial draft of each Disclosure Document and two (2) Business Days to review each subsequent draft of any Disclosure Document (or
any provision thereof). Any notice given by Borrower pursuant to clauses (1) through (3) above may be given by email to the list of email addresses from time to time indicated by Lender or its counsel when distributing the related Disclosure
Document to Borrower. 
 (E) In connection with filings under Exchange Act and/or the Securities Act or but subject to clauses
(1) through (3) in Section 13.7(C), Borrower shall (i) indemnify Lender, the Lender Group, the Issuer and the Underwriter Group for Liabilities to which Lender, the Lender Group, the Issuer or the Underwriter
Group may become subject insofar as the Liabilities arise out of or are based upon the omission or alleged omission to state in the Relevant Sections a material fact required to be stated in the Relevant Sections or necessary in order to make the
statements in the Relevant Sections, in the light of the circumstances under which they were made, not misleading and (ii) reimburse Lender, the Lender Group, the Issuer or the Underwriter Group for any reasonable
out-of-pocket legal or other expenses incurred by Lender, the Lender Group, the Issuer or the Underwriter Group in connection with defending or investigating the
Liabilities. 
 (F) Borrower agrees that if any indemnification or reimbursement sought pursuant to this
Section 13.7 is finally judicially determined to be unavailable for any reason or is insufficient to hold any indemnified person harmless (with respect only to the Liabilities that are the subject of this

  
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Section 13.7), then Borrower, on the one hand, and such indemnified person, on the other hand, shall contribute to the Liabilities for which such indemnification or
reimbursement is held unavailable or is insufficient: (x) in such proportion as is appropriate to reflect the relative benefits to Borrower, on the one hand, and such indemnified person, on the other hand, from the transactions to which such
indemnification or reimbursement relates; or (y) if the allocation provided by clause (x) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause
(x) but also the relative faults of Borrower, on the one hand, and all indemnified persons, on the other hand, as well as any other equitable considerations. Notwithstanding the provisions of this Section 13.7, no
party found liable for a fraudulent misrepresentation shall be entitled to contribution from any other party who is not also found liable for such fraudulent misrepresentation. In determining the amount of contribution to which the respective
parties are entitled, the following factors shall be considered: (i) Lender’s and Borrower’s relative knowledge and access to information concerning the matter with respect to which the claim was asserted; (ii) the opportunity to
correct and prevent any statement or omission; and (iii) any other equitable considerations appropriate in the circumstances. Lender and Borrower hereby agree that it would not be equitable if the amount of such contribution were determined by
pro rata or per capita allocation. 
 (G) Promptly after receipt by an indemnified party under this
Section 13.7 of notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under this Section 13.7, notify the
indemnifying party in writing of the commencement thereof (but the omission to so notify the indemnifying party will not relieve the indemnifying party from any liability which the indemnifying party may have to any indemnified party hereunder
except to the extent that failure to notify causes prejudice to the indemnifying party). In the event that any action is brought against any indemnified party, and it notifies the indemnifying party of the commencement thereof, the indemnifying
party will be entitled, jointly with any other indemnifying party, to participate therein and, to the extent that it (or they) may elect by written notice delivered to the indemnified party as soon as reasonably practicable after receiving the
aforesaid notice from such indemnified party, to assume the defense thereof with counsel satisfactory to such indemnified party. After notice from the indemnifying party to such indemnified party under this Section 13.7,
such indemnifying party shall pay for any legal or other expenses subsequently incurred by such indemnifying party in connection with the defense thereof; provided, however, if the defendants in any such action include both the indemnified party and
the indemnifying party and the indemnified party shall have reasonably concluded that there are any legal defenses available to it and/or other indemnified parties that are different from or additional to those available to the indemnifying party,
the indemnified party or parties shall have the right to select separate counsel to assert such legal defenses and to otherwise participate in the defense of such action on behalf of such indemnified party at the cost of the indemnifying party. The
indemnifying party shall not be liable for the expenses of more than one separate counsel (plus local and special counsel, as applicable) unless an indemnified party shall have reasonably concluded that there may be legal defenses available to it
that are different from or additional to those available to another indemnified party. Without the prior written consent of Lender (which consent shall not be unreasonably withheld or delayed), no indemnifying party shall settle or compromise or
consent to the entry of any judgment in any pending or threatened claim, action, suit or proceeding in respect of which indemnification may be sought hereunder unless the indemnifying party shall have given Lender reasonable prior written notice
thereof and shall have obtained an unconditional release of each indemnified party hereunder from all liability arising out of such claim, action, suit or proceedings, and such settlement requires no statement as to, or an admission of, fault,
culpability or a failure to act, by or on behalf of the indemnified party. 
 (H) Borrower agrees that the indemnification,
contribution and reimbursement obligations set forth in this Section 13.7 shall apply whether or not any indemnified person is a formal party to any lawsuits, claims or other proceedings. Borrower acknowledges and agrees
that any Person that is included in the Lender Group, the Issuer and/or the Underwriter Group that is not a direct party to this Agreement shall be deemed to be a third-party beneficiary to this Agreement with respect to this
Section 13.7. 

  
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 (I) The indemnities, liabilities and obligations of both Borrower and Lender under
this Section 13.7 shall survive the termination of this Agreement and the satisfaction and discharge of the Obligations. 

Section 13.8. Resizing; New Mezzanine Option.  

(A) Borrower covenants and agrees that after the Closing Date and prior to a Securitization, Lender shall have the right to establish
different interest rates and to reallocate the principal balances between the Loan and the Mezzanine Loan and to require the payment of the Loan and the Mezzanine Loan in such order of priority as may be designated by Lender, which may result in
varying interest rates, but which shall have the same aggregate initial weighted average interest rate and aggregate principal balance of the original Note and the Mezzanine Note (the “Resizing Option”).Borrower shall
cooperate with Lender in Lender’s exercise of the Resizing Option, using commercially reasonable efforts and in a timely manner, which such cooperation shall include, but not be limited to, (a) executing such amendments to the Loan
Documents and any Individual Borrower’s organizational documents as may be reasonably requested by Lender or requested by the Rating Agencies, (b) executing such agreements, instruments and other documents as may be reasonably required by
Lender in connection with the Lender’s effectuating of the resizing of the Loan and Mezzanine Loan; and (c) delivering such opinions, title endorsements, UCC title insurance policies, documents and/or instruments relating to any
declarations or reciprocal easement agreements affecting the Property and other materials as may be required by Lender or the Rating Agencies; and (iv) delivering an Interest Rate Cap Agreement and related Assignment of Cap for the Loan and the
mezzanine loan; provided, however, that neither Borrower, the other Borrower Parties nor Sponsor Affiliated Manager shall be required to enter into any modification or amendment to this Agreement or the other Loan Documents or any other document,
instrument or certificate if such modification, amendment, document, instrument or certificate would adversely affect or diminish the respective rights or increase their respective obligations and liabilities as presently set forth in this Agreement
and in the other Loan Documents, in each case other than to a de minimis extent, and other than (x) as affected by the resizing of the relative principal balances and interest rates pursuant to the Resizing Option and the relative
senior/subordinate priorities of the resized Loan and Mezzanine Loan resulting therefrom, and (y) resulting from any componentization of the Loan pursuant to Section 13.6, including any “rate creep” that
would occur as a result of applications of principal payments (whether voluntary, mandatory, involuntary or otherwise occurring, including without limitation partial prepayments associated with Property Releases and applications of Casualty
Proceeds and Condemnation Proceeds) and/or upon occurrence and during the continuance of an Event of Default. 
 (B)
New Mezzanine Option. Lender shall have the option (the “New Mezzanine Option”) at any time to create one or more new mezzanine loans (the “New Mezzanine Loan”), provided, that
(i) the total loan amounts for the Loan, the Mezzanine Loan, and the New Mezzanine Loan shall equal the then outstanding amount of the Loan and Mezzanine Loan immediately prior to Lender’s exercise of the New Mezzanine Option, and
(ii) the weighted average interest rate of the Loan, Mezzanine Loan, and New Mezzanine Loan shall initially equal the weighted average interest rate of the Loan and Mezzanine Loan. Borrower shall cooperate with Lender in Lender’s exercise
of the New Mezzanine Option using commercially reasonable efforts and in a timely manner, which such cooperation shall include, but not be limited to, (i) executing such amendments to the Loan Documents and any Individual Borrower’s
organizational documents as may be reasonably requested by Lender or requested by the Rating Agencies, (ii) newly forming one or more entities satisfying applicable Rating Agency criteria for single-purpose entities (the “New
Mezzanine Borrower”), which such New Mezzanine Borrower shall (A) own, directly 

  
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or indirectly, 100% of the equity ownership interests in Borrower or Mezzanine Borrower (the “Equity Collateral”), and (B) together with such constituent equity
owners of such New Mezzanine Borrower as may be reasonably designated by Lender, execute such agreements, instruments and other documents as may be reasonably required by Lender in connection with the New Mezzanine Loan (including, without
limitation, a promissory note evidencing the New Mezzanine Loan and a pledge and security agreement pledging the Equity Collateral to Lender as security for the New Mezzanine Loan); and (iii) delivering such opinions, title endorsements, UCC
title insurance policies, documents and/or instruments relating to any declarations or reciprocal easement agreements affecting the Property and other materials as may be required by Lender or the Rating Agencies; and (iv) delivering an
Interest Rate Cap Agreement and related Assignment of Cap for the Loan and the mezzanine loan; provided, however, that neither Borrower, the other Borrower Parties nor Sponsor Affiliated Manager shall be required to enter into any modification or
amendment to this Agreement or the other Loan Documents or any other document, instrument or certificate if such modification, amendment, document, instrument or certificate would adversely affect or diminish the respective rights or increase their
respective obligations and liabilities as presently set forth in this Agreement and in the other Loan Documents, in each case other than to a de minimis extent, and other than (x) as affected by the creation of the New Mezzanine Loan and the
resizing of the relative principal balances and interest rates pursuant to the New Mezzanine Loan Option and the relative senior/subordinate priorities of the Loan, Mezzanine Loan and New Mezzanine Loan resulting therefrom, and (y) resulting
from any componentization of the Loan pursuant to Section 13.6, including any “rate creep” that would occur as a result of applications of principal payments (whether voluntary, mandatory, involuntary or otherwise
occurring, including without limitation partial prepayments associated with Property Releases and applications of Casualty Proceeds and Condemnation Proceeds) and/or upon occurrence and during the continuance of an Event of Default.

 (C) Borrower shall not be required to incur any costs or expenses in the performance of its obligations under this
Section 13.8 other than expenses of Borrower’s counsel, accountants and consultants. 

Section 13.9. REMIC Savings Clause. Notwithstanding anything herein to the contrary, if the
Loan or any portion thereof is included in a REMIC Trust and, immediately following a release of any portion of the real property relating to the Property, the ratio of the unpaid principal balance of the Loan (or such portion included in the REMIC
Trust) to the value of the remaining real property relating to the Property is greater than 125% (such value to be determined, in Lender’s discretion, by any commercially reasonable method permitted to a REMIC Trust and it being agreed and
acknowledged that such loan-to-value determination shall be based on the value of only real property and shall exclude any personal property or going-concern value, if
any), the principal balance of the Loan (or such portion included in the REMIC Trust) must be paid down by Borrower by an amount sufficient to satisfy REMIC Requirements, unless the Lender receives a REMIC Opinion that the Loan will not fail to
maintain its status as a “qualified mortgage” within the meaning of Section 860G(a)(3)(A) of the IRC as a result of the related release of lien. For purposes of clarity, no Spread Maintenance Premium shall be due or payable in
connection with any prepayment pursuant to this Section 13.9. 
 Section 13.10.
Reliance on Notice of Mezzanine Loan Default; Mezzanine Monthly Debt Service Payment Amount. With respect to the Mezzanine Loan, Lender shall be entitled to conclusively rely on any notice from the Mezzanine Lender concerning the
existence, cure or waiver of a Mezzanine Loan Default and the amount of the Mezzanine Monthly Debt Service Payment Amount, and shall have no obligation to investigate or independently verify the facts or circumstances described in any such notice or
the amount of the Mezzanine Monthly Debt Service Payment Amount or the existence or non-existence of a Mezzanine Loan Default, and Lender shall have no liability to any Individual Borrower, Mezzanine Borrower,
Mezzanine Lender or any other Person as a result of Lender’s good faith reliance on any such notice received from Mezzanine Lender. 

  
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 Section 13.11. Co-Lenders. 

(A) Borrower hereby acknowledges and agrees that notwithstanding the fact that the Loan may be serviced by Servicer, prior to a
Securitization of the entire Loan, all requests for approval and consents hereunder and in every instance in which Lender’s consent or approval is required, each of Borrower and Guarantor shall be required to obtain the consent and approval of
each Co-Lender and all copies of documents, reports, requests and other delivery obligations of Borrower and Guarantor required hereunder shall be delivered by Borrower or Guarantor, as applicable, to each Co-Lender. 
 (B) (i) The liabilities of Lender shall be several and not joint, (ii) no Co-Lender shall be responsible for the obligations of any other Co-Lender, and (iii) each Co-Lender shall be liable to Borrower
only for its respective Ratable Share of the Loan. Notwithstanding anything to the contrary herein, all indemnities by Borrower and obligations for costs, expenses, damages or advances set forth herein shall run to and benefit each Co-Lender in accordance with its Ratable Share. 
 (C) Each
Co-Lender agrees that it has, independently and without reliance on any other Co-Lender, and based on such documents and information as it has deemed appropriate, made
its own credit analysis of Borrower, Guarantor, and their respective Affiliates and decision to enter into this Agreement and that it will, independently and without reliance upon any other Co-Lender, and
based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or under any other Loan Document. 

(D) With respect to the enforcement of the rights and remedies of Lender under the Loan Documents upon the occurrence and during the
continuance of an Event of Default, if at such time there are multiple Co-Lenders holding the Loan, then either: 

(i) the Co-Lenders shall exercise such rights and remedies jointly together, or 

(ii) the Co-Lenders shall designate from time to time, such designations to be made from time to time
in the Co-Lenders’ sole and absolute discretion, one or more servicers or agents (which may be a Co-Lender, applicable servicer or other agent designated by Lender)
that shall exercise such rights and remedies under the Loan Documents on behalf of Lender (and all Co-Lenders) such that, with respect to any exercise of applicable rights and remedies at any given time, there
shall be a single servicer or agent exercising such rights and remedies as or on behalf of Lender notwithstanding that there may be multiple Co-Lenders holding the Loan. 

(E) Borrower acknowledges that the Co-Lenders may from time to time enter into one or more co-lending agreement, intercreditor agreement or similar agreements governing the relationship between such parties with respect to the Loan (“Co-Lender
Agreements”). The Co-Lender Agreements are intended solely for the benefit of the Co-Lenders and any other parties thereto, and Borrower acknowledges
that neither Borrower nor any of its Affiliates is an intended third-party beneficiary of any Co-Lender Agreement and shall not be entitled to rely on any of the terms or provisions contained therein. No Co-Lender shall have any obligation to disclose to Borrower or any of its Affiliates the contents of any Co-Lender Agreement. 

ARTICLE XIV 

MISCELLANEOUS 

Section 14.1. Expenses and Attorneys’ Fees. Whether or not the
transactions contemplated hereby shall be consummated, Borrower agrees to promptly pay all reasonable out-of-pocket fees, costs

  
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and expenses incurred by Lender in connection with any matters contemplated by or arising out of this Agreement or the Loan Documents, and such reasonable out-of-pocket fees, costs and expenses incurred in connection with the negotiation, documentation, closing, administration, servicing, enforcement, interpretation, and collection of the Loan and the Loan
Documents, and in the preservation and protection of Lender’s rights hereunder and thereunder, and in response to requests or other matters presented by Borrower, all of which shall be part of the Obligations. By way of example and not
limitation, the reasonable out-of-pocket fees, costs and expenses incurred by Lender in connection with the following shall be included: (a) examination, review,
due diligence, investigation, documentation and closing of the transactions evidenced the Loan Documents; (b) any amendments, modifications and waivers relating thereto, whether proposed or consummated; (c) administration of the Loan and
Loan Documents, including response to any requests by Borrower; (d) review, documentation, negotiation, closing and administration of any subordination agreements, non-disturbance agreements, Leases, or
intercreditor agreements; (e) any action to enforce or interpret this Agreement or the other Loan Documents or to collect any payments due from Borrower or any guarantor or indemnitor under this Agreement or any other Loan Document;
(f) any case or proceeding under Title 11 or any other Title of the United States Code (or any law succeeding or replacing any of the same); and (g) any refinancing or restructuring of the Loan or the Loan Documents, whether in the nature
of a “workout,” in connection with any insolvency or bankruptcy proceedings, or otherwise, and (h) any matter as to which Borrower is obligated to indemnify Lender hereunder. In each case, Lender’s fees, costs and expenses to be
reimbursed by Borrower hereunder shall include the reasonable fees, costs and expenses of legal counsel and other professionals retained by Lender, provided, however, that the obligation of Borrower to pay attorneys’ fees pursuant to any
provision of this Agreement or any other Loan Documents shall not include costs of Lender’s internal “in house” legal personnel. At the Closing, Lender is authorized to pay directly from the proceeds of the Loan any or all of the
foregoing fees, costs and expenses then or theretofore incurred. Any costs and expenses due and payable to Lender after the Closing Date may be paid to Lender pursuant to the terms hereof. If Lender so elects, Lender may acquire a tax service
contract for the Property, in which case the reasonable costs of the same shall be reimbursed by Borrower 

Section 14.2. Indemnity. In addition to Borrower’s obligations to pay reasonable out-of-pocket costs and expenses as provided elsewhere herein, whether or not the transactions contemplated hereby shall be consummated, Borrower shall indemnify, defend,
protect, pay and hold the Indemnified Parties harmless from and against any and all claims, suits, actions, obligations, liabilities, judgments, losses, damages, penalties, Indemnifiable Taxes, Other Taxes, brokerage, leasing, finder’s or
similar fees, reasonable out-of-pocket costs, expenses and disbursements of any kind or nature whatsoever (including the reasonable fees and disbursements of legal
counsel for such Indemnified Parties in connection with any investigative, administrative or judicial proceeding commenced or threatened, whether or not such Indemnified Parties shall be designated a party thereto) that may be imposed on, incurred
by, or asserted against any Indemnified Party, in any manner relating to or arising out of any of the following, except that Borrower shall not be liable hereunder to any Indemnified Party to the extent the same is caused by such Indemnified
Party’s willful misconduct, gross negligence, fraud or illegal acts in the conduct of its activities at or with respect to the Property or the Loan: (a) the negotiation, execution, delivery, performance, administration, ownership, or
enforcement of any of the Loan Documents; (b) any of the transactions contemplated by the Loan Documents or any ownership of the Security Instruments, the Property or any interest therein, or receipt of any Rents; (c) any breach by any
Borrower Party of any representation, warranty, covenant, or other agreement contained in any of the Loan Documents; (d) [Reserved]; (e) Lender’s agreement to make the Loan hereunder; (f) any claim brought by any third party
arising out of any condition or occurrence at or pertaining to any Individual Property, including without limitation, any claims and demands for damages or injury, including claims for property damage, personal injury or wrongful death, arising out
of or in connection with any accident or fire or other casualty on any Individual Property or any nuisance or trespass made or suffered thereon, (g) any design, construction, operation, repair, maintenance, use,
non-use or condition of any Individual Property, including claims or penalties arising from violation of any applicable 

  
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laws or insurance requirements, as well as any claim based on any patent or latent defect, whether or not discoverable by Lender; (h) any performance of any labor or services or the
furnishing of any materials or other property in respect of any Individual Property or any part thereof, and any Liens (whether judgments, mechanics’, materialmen’s or otherwise), charges and encumbrances filed against any Individual
Property; (i) any contest referred to in Section 7.3; (j) any obligation or undertaking relating to the performance or discharge of any of the terms, covenants and conditions of the landlord contained in the
Leases; (k) any information provided by or on behalf of any Individual Borrower, or contained in any documentation approved by any Individual Borrower or (l) the use or intended use of the proceeds of any of the Loan. In addition, Borrower
shall, at its sole cost and expense, protect, defend, indemnify, release and hold harmless the Indemnified Parties from and against any and all Losses (including, without limitation, reasonable attorneys’ fees and costs actually incurred in the
investigation, defense, and settlement of Losses incurred in correcting any prohibited transaction or in the sale of a prohibited loan, and in obtaining any individual prohibited transaction exemption under ERISA that may be required, in
Lender’s sole discretion) that Lender may incur, directly or indirectly, as a result of a default under Sections 4.17 or 7.20 of this Agreement. Elsewhere herein, Borrower is required to obtain a waiver of subrogation against
Lender from its insurance carrier and, consequently, Borrower waives any and all right to claim or recover against Lender or any of its officers, directors, employees, agents, Affiliates and attorneys, for loss of or damage to Borrower, the
Property, Borrower’s property or the property of others under Borrower’s control from any cause insured against or required to be insured against by the provisions of this Agreement. Any amounts payable to any Indemnified Party by
reason of the application of this Section 14.2 shall be payable on demand and shall bear interest at the Default Rate from the date such loss or damage is sustained by any Indemnified Party until paid. The obligations and
liabilities of Borrower under this Section 14.2 shall survive the term of the Loan and the exercise by Lender of any of its rights or remedies under the Loan Documents, including the acquisition of any Property by
foreclosure or a conveyance in lieu of foreclosure, and shall expire upon the expiration of the applicable statute of limitation. 

Section 14.3. Actions Affecting Lender’s Interests. Irrespective of
whether any Default or Event of Default shall have occurred, if any action or proceeding of any kind (including, but not limited to, any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding) is commenced which might
affect Lender’s interest in the Loan or in all or any part of the Property or the other Collateral, then Lender may, at its option, make any appearances, disburse any funds and take any actions as Lender may deem necessary or appropriate.
Without limiting the generality of the foregoing, in the case of any receivership, insolvency, bankruptcy, reorganization, arrangement, adjustment, composition or other proceedings affecting Borrower or any Guarantor, or their respective creditors
or property, Lender shall be entitled to file such proofs of claim and other documents as Lender may determine in order to have the claims of Lender allowed in such proceedings for the entire amount of the Obligations. Lender shall have such rights
irrespective of whether or not any Event of Default shall have occurred, and whether or not any notice shall have been given to Borrower. No exercise of any such rights shall constitute or give rise to a waiver or cure of any default by Borrower.
Borrower shall reimburse Lender within ten (10) days after written demand for all out-of-pocket costs, expenses and disbursements incurred by Lender under this
provision, including reasonable attorneys’ fees and expenses, together with interest thereon at the same rate as is then applicable to other principal hereunder. Borrower’s obligations under this Section shall survive payment in full
of the Obligations. 
 Section 14.4. Amendments and Waivers. Except as otherwise provided
herein, no amendment, modification, termination or waiver of any provision of this Agreement, the Note or any other Loan Document, or consent to any departure therefrom, shall in any event be effective unless the same shall be in writing and signed
by Lender and by the party against whom enforcement is sought. Each amendment, modification, termination or waiver shall be effective only in the specific instance and for the specific purpose for which it was given. No notice to or demand on any
Borrower Party in any case shall entitle the same or any other Borrower Party or any other Person to any other or further notice or demand in similar or other circumstances (except for any notices as expressly required herein or under the other Loan
Documents). 

  
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 Section 14.5. Retention of
Borrower’s Documents. Lender may, in accordance with Lender’s customary practices, destroy or otherwise dispose of all documents, schedules, invoices or other papers, delivered by Borrower to
Lender unless Borrower requests in writing that same be returned. Upon such request and at Borrower’s expense, Lender shall return such papers when Lender’s actual or anticipated need for same has terminated. 

Section 14.6. Notices. Unless otherwise specifically provided herein, any notice or other
communication required or permitted to be given shall be in writing and addressed to the respective party as set forth below. Notices shall be effective (i) three (3) days after the date such notice is mailed, (ii) on the next
Business Day if sent by a nationally recognized overnight courier service, (iii) on the date of delivery by personal delivery and (iv) on the date of transmission if sent by telefax during business hours on a Business Day (otherwise on the
next Business Day) (with receipt of confirmation). 
 Notices shall be addressed as follows: 

If to any Borrower Party, at the address(es) set forth in the Information Schedule. 

If to Lender: 

KeyBank National Association 

11501 Outlook, Suite 300 

Overland Park, Kansas 66211 

Facsimile No.: 877-379-1625 

Attention: Loan Servicing 

And to: 

Citi Real Estate Funding Inc. 

388 Greenwich Street 

6th Floor 

New York, New York 10013 

Attention: Ana Rosu Marmann 

Facsimile No.: (646) 328-2938 

With a copy to: 

Sidley Austin LLP 

One South Dearborn 

Chicago, IL 60603 

Attention: Charles Schrank 

Facsimile No.: (646) 328-2938 

Any party may change the address at which it is to receive notices to another address in the United States at which business is conducted (and
not a post-office box or other similar receptacle), by giving notice of such change of address in accordance with the foregoing. This provision shall not invalidate or impose additional requirements for the delivery or effectiveness of any notice
(i) given in accordance with applicable statutes or rules of court, or (ii) by service of process in accordance with applicable law. If there is any assignment or transfer of any Co-Lender’s
interest in the Loan, then the new Co-Lender may give notice to the parties in accordance with this Section, specifying the addresses at which the new Co-Lender shall
receive notice, and they shall be entitled to notice at such address in accordance with this Section. 

  
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 Section 14.7. Survival of Warranties and Certain
Agreements. All agreements, representations and warranties made in the Loan Documents shall survive the execution and delivery of the Loan Documents and the making of the Loan and the execution and delivery of the Note.
Notwithstanding anything in the Loan Documents or implied by law to the contrary, the agreements of Borrower to indemnify or release Lender or Persons related to Lender, or to pay Lender’s costs, expenses, or Taxes shall survive the payment of
the Loan, the release of the Security Instrument and the Liens created under the Loan Documents and the termination of this Agreement. 

Section 14.8. Failure or Indulgence Not Waiver. No failure or delay on the part of Lender in
the exercise of any power, right or privilege under any of the Loan Documents shall impair such power, right or privilege or be construed to be a waiver of any default or acquiescence therein, nor shall any single or partial exercise of any such
power, right or privilege preclude other or further exercise thereof or of any other right, power or privilege. Failure of consideration of any Borrower Party to another, or nonperformance by any Borrower Party or in favor of another Borrower Party,
or any other matter among Borrower Parties, shall not relieve Borrower Parties from, nor in any way serve as a waiver of, any of the obligations of Borrower Parties under any of the Loan Documents. 

Section 14.9. Marshaling; Payments Set Aside. Lender shall not be under any obligation to
marshal any assets in favor of any Person or against or in payment of any or all of the Obligations. To the extent that any Person makes a payment or payments to Lender, or Lender enforces its remedies or exercises its rights of set off, and such
payment or payments or the proceeds of such enforcement or set off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under
any bankruptcy law, state or federal law, common law or equitable cause, then to the extent of such recovery, the Obligations or part thereof originally intended to be satisfied, and all Liens, if any, and 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. 

Section 14.10. Severability. The invalidity, illegality or unenforceability in any jurisdiction
of any provision in or obligation under this Agreement, the Note or other Loan Documents shall not affect or impair the validity, legality or enforceability of the remaining provisions or obligations under this Agreement, the Note or other Loan
Documents or of such provision or obligation in any other jurisdiction. 
 Section 14.11. Contact with
Tenants. Lender is irrevocably authorized to communicate in any manner regarding any subject with any Tenant. Without limitation, Lender is irrevocably authorized to deliver copies of Loan Documents to any Tenant, and to issue
instructions and demands to Tenants regarding payment of Rent in accordance with the rights of Lender under the Loan Documents and applicable law. 

Section 14.12. Headings. Headings for sections, subsections, and other parts of this Agreement
and in the other Loan Documents are included herein for convenience of reference only and shall not constitute a part of this Agreement or the other Loan Documents for any other purpose or be given any substantive effect. 

Section 14.13. Governing Law. THIS AGREEMENT WAS NEGOTIATED IN THE STATE OF NEW YORK, THE LOAN WAS MADE BY LENDER IN THE STATE
OF NEW YORK, AND THE PROCEEDS OF THE LOAN DELIVERED PURSUANT HERETO WERE DISBURSED 

  
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FROM THE STATE OF NEW YORK, WHICH STATE THE PARTIES AGREE HAS A SUBSTANTIAL RELATIONSHIP TO THE PARTIES AND TO THE UNDERLYING TRANSACTION EMBODIED HEREBY, AND IN ALL RESPECTS, INCLUDING, WITHOUT
LIMITING THE GENERALITY OF THE FOREGOING, MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE, THIS AGREEMENT, THE NOTE AND THE OTHER LOAN DOCUMENTS AND THE OBLIGATIONS ARISING HEREUNDER AND THEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH STATE (WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS) AND ANY APPLICABLE LAW OF THE UNITED STATES OF AMERICA, EXCEPT THAT AT ALL TIMES THE PROVISIONS FOR
THE CREATION, PERFECTION, AND ENFORCEMENT OF THE LIENS AND SECURITY INTERESTS CREATED PURSUANT HERETO AND PURSUANT TO THE OTHER LOAN DOCUMENTS SHALL BE GOVERNED BY AND CONSTRUED ACCORDING TO THE LAW OF THE STATE IN WHICH THE APPLICABLE INDIVIDUAL
PROPERTY IS LOCATED, IT BEING UNDERSTOOD THAT, TO THE FULLEST EXTENT PERMITTED BY THE LAW OF SUCH STATE, THE LAW OF THE STATE OF NEW YORK SHALL GOVERN THE CONSTRUCTION, VALIDITY AND ENFORCEABILITY OF ALL LOAN DOCUMENTS AND ALL OF THE OBLIGATIONS
ARISING HEREUNDER OR THEREUNDER. TO THE FULLEST EXTENT PERMITTED BY LAW, BORROWER HEREBY UNCONDITIONALLY AND IRREVOCABLY WAIVES ANY CLAIM TO ASSERT THAT THE LAW OF ANY OTHER JURISDICTION GOVERNS THIS AGREEMENT, THE NOTE AND/OR THE OTHER LOAN
DOCUMENTS, AND THIS AGREEMENT, THE NOTE AND THE OTHER LOAN DOCUMENTS SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK PURSUANT TO SECTION 5-1401 OF THE NEW YORK GENERAL
OBLIGATIONS LAW. 
 Section 14.14. Successors and Assigns. This Agreement shall be
binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, except that no Borrower Party may assign its rights or obligations hereunder or under any of the other Loan Documents except as expressly
provided in Article XI. To the extent that Lender transfers any of its interest under this Agreement or the other Loan Documents, then without the necessity of further action by Borrower, Lender shall be released by Borrower from any further
liability hereunder and thereunder. 
 Section 14.15. Sophisticated Parties, Reasonable Terms, No Fiduciary
Relationship. Borrower represents and acknowledges that (i) the Borrower Parties are sophisticated real estate investors, familiar with transactions of this kind, and (ii) they have entered into this transaction, and the
Loan Documents have been executed and delivered only after the Borrower Parties have conducted their own assessment of the alternatives available to them in the market, and after lengthy negotiations in which they have been represented by competent
legal counsel of their choice, and (iii) the rights of Lender under the Loan Documents are reasonable and appropriate, taking into consideration all of the facts and circumstances including without limitation the quantity of the Loan, the
nature of the Property, and the risks incurred by Lender in this transaction. No provision in this Agreement or in any of the other Loan Documents and no course of dealing between the parties shall be deemed to create (i) any partnership or
joint venture between Lender and Borrower or any other Person, or (ii) any fiduciary or similar duty by Lender to Borrower or any other Person. The relationship between Lender and Borrower is exclusively the relationship of a creditor and a
debtor, and all relationships between Lender and any other Borrower Party are ancillary to such creditor/debtor relationship. 

  
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 Section 14.16. Reasonableness of
Determinations. In any instance where any consent, approval, determination or other action by Lender is, pursuant to the Loan Documents or applicable law, required to be done reasonably or required not to be unreasonably withheld,
then Lender’s action shall be presumed to be reasonable, and Borrower shall bear the burden of proof of showing that the same was not reasonable. In all cases Lender shall be conclusively deemed to be acting reasonably when implementing any
standard or requirement of any applicable Rating Agency. If a claim or adjudication is made that Lender or its agents have acted unreasonably or unreasonably delayed acting in any case where, by law or under this Agreement or the other Loan
Documents, Lender or such agent, as the case may be, has an obligation to act reasonably or promptly, neither Lender nor its agents shall be liable for any monetary damages, and Borrower’s sole remedy shall be limited to commencing an action
seeking injunctive relief or declaratory judgment and the right to recover reasonable attorneys’ fees and costs incurred in such action if Borrower prevails in such action. Any action or proceeding to determine whether Lender has acted
reasonably shall be determined by an action seeking declaratory judgment. 
 Section 14.17. Limitation of
Liability. Anything to the contrary anywhere in the Loan Documents notwithstanding, Borrower agrees (i) that no Borrower Party shall sue Lender or any Affiliate of Lender for punitive, speculative or consequential damages in
respect of any claim or liability in connection with, arising out of, or in any way related to, the Loan, the Property, this Agreement, any of the other Loan Documents, or any of the transactions contemplated by this Agreement or the other Loan
Documents, and (ii) that they shall not in any event for any reason sue any of Lender’s or Lender’s Affiliate’s officers, directors, employees, attorneys, or agents. Borrower on behalf of itself and anyone claiming by, through or
under Borrower, hereby forever releases Lender, its Affiliates, and their officers, directors, employees, attorneys, and agents from the matters for which Borrower has agreed not to sue. 

Section 14.18. No Liability for Consents and Approvals. Lender’s consent to or acceptance
or approval of any matter shall not relieve Borrower from any obligation with respect to such matter (such as, for example, the obligation that the same shall comply with Legal Requirements). Any such consent, acceptance or approval is for
Lender’s purposes only. Borrower shall not rely on Lender’s consent, acceptance or approval for any purpose in evaluating the subject matter. No such consent, acceptance or approval shall comprise any part of the basis of any liability on
the part of Lender. By way of example only, by consenting to or accepting or approving any item that may be delivered to Lender pursuant to the Loan Documents (including, but not limited to, any Authorized Officer’s Certificate, Financial
Statements, survey, appraisal, insurance policy, plans, specifications, or reports), Lender shall not incur any liability whatsoever to Borrower or to anyone claiming by, through or under Borrower. 

Section 14.19. No Duty. All attorneys, accountants, appraisers, and other professional Persons
and consultants retained by Lender shall have the right to act exclusively in the interest of Lender and shall have no duty of disclosure, duty of loyalty, duty of care, or other duty or obligation of any type or nature whatsoever to any Borrower
Party or Affiliates thereof, or any other Person. 
 Section 14.20. Entire Agreement. This
Agreement, the Note, and the other Loan Documents referred to herein embody the final, entire agreement among the parties hereto and supersede any and all prior commitments, agreements, representations, and understandings, whether written or oral,
relating to the subject matter hereof and may not be contradicted or varied by evidence of prior, contemporaneous, or subsequent oral agreements or discussions of the parties hereto. There are no oral agreements among the parties to the Loan
Documents. 
 Section 14.21. Construction as Mutually Drafted. Borrower Parties and Lender
acknowledge that each of them has had the benefit of legal counsel of its own choice and has been afforded an opportunity to review this Agreement and the other Loan Documents with its legal counsel and that this Agreement and the other Loan
Documents shall be construed as if jointly drafted by Borrower and Lender. 

  
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 Section 14.22. Supremacy of Loan Agreement.
The Loan Documents shall be read together so as to give effect to all provisions of all of them. Nonetheless, if any term, condition or provision of this Agreement shall contradict or be irreconcilably inconsistent with any term, condition or
provision of any other Loan Document, then this Agreement shall control. 
 Section 14.23. Consent to
Jurisdiction and Service of Process. ANY LEGAL SUIT, ACTION OR PROCEEDING AGAINST LENDER OR BORROWER ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE OTHER LOAN DOCUMENTS MAY AT LENDER’S OPTION BE INSTITUTED IN ANY FEDERAL OR STATE
COURT IN THE CITY OF NEW YORK, COUNTY OF NEW YORK, PURSUANT TO SECTION 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW AND BORROWER WAIVES ANY OBJECTIONS WHICH IT MAY NOW OR HEREAFTER HAVE BASED ON VENUE AND/OR
FORUM NON CONVENIENS OF ANY SUCH SUIT, ACTION OR PROCEEDING, AND BORROWER HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY SUCH COURT IN ANY SUIT, ACTION OR PROCEEDING. BORROWER DOES HEREBY DESIGNATE AND APPOINT: 

Norton Rose Fulbright US LLP 

1301 Avenue of the Americas 
 New
York, New York 10019-6022 
 Attention: Patrick Dolan 

AS ITS AUTHORIZED AGENT TO ACCEPT AND ACKNOWLEDGE ON ITS BEHALF SERVICE OF ANY AND ALL PROCESS WHICH MAY BE SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING IN
ANY FEDERAL OR STATE COURT IN NEW YORK, NEW YORK, AND AGREES THAT SERVICE OF PROCESS UPON SAID AGENT AT SAID ADDRESS AND NOTICE OF SAID SERVICE MAILED OR DELIVERED TO BORROWER IN THE MANNER PROVIDED HEREIN SHALL BE DEEMED IN EVERY RESPECT EFFECTIVE
SERVICE OF PROCESS UPON BORROWER IN ANY SUCH SUIT, ACTION OR PROCEEDING IN THE STATE OF NEW YORK. BORROWER (I) SHALL GIVE PROMPT NOTICE TO LENDER OF ANY CHANGED ADDRESS OF ITS AUTHORIZED AGENT HEREUNDER, (II) MAY AT ANY TIME AND FROM TIME
TO TIME DESIGNATE A SUBSTITUTE AUTHORIZED AGENT WITH AN OFFICE IN NEW YORK, NEW YORK (WHICH SUBSTITUTE AGENT AND OFFICE SHALL BE DESIGNATED AS THE PERSON AND ADDRESS FOR SERVICE OF PROCESS), AND (III) SHALL PROMPTLY DESIGNATE SUCH A SUBSTITUTE
IF ITS AUTHORIZED AGENT CEASES TO HAVE AN OFFICE IN NEW YORK, NEW YORK OR IS DISSOLVED WITHOUT LEAVING A SUCCESSOR. NOTHING CONTAINED HEREIN SHALL AFFECT THE RIGHT OF LENDER TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL
PROCEEDINGS OR OTHERWISE PROCEED AGAINST BORROWER IN ANY OTHER JURISDICTION. 
 Section 14.24. Waiver of Jury Trial. BORROWER
AND LENDER AGREE NOT TO ELECT A TRIAL BY JURY OF ANY ISSUE TRIABLE OF RIGHT BY JURY, AND TO THE FULLEST EXTENT THAT THEY MAY LAWFULLY DO SO, HEREBY FOREVER AND IRREVOCABLY WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING, INCLUDING,
WITHOUT LIMITATION, ANY TORT ACTION, BROUGHT BY ANY PARTY HERETO WITH RESPECT TO THIS AGREEMENT, THE NOTE OR THE OTHER LOAN DOCUMENTS. THIS WAIVER OF RIGHT TO TRIAL BY JURY IS GIVEN KNOWINGLY AND VOLUNTARILY AND IS INTENDED TO ENCOMPASS
INDIVIDUALLY EACH INSTANCE AND EACH ISSUE AS TO WHICH THE RIGHT TO A TRIAL BY JURY WOULD OTHERWISE ACCRUE. LENDER IS HEREBY AUTHORIZED TO FILE A COPY OF THIS AGREEMENT, INCLUDING THIS PARAGRAPH, IN ANY PROCEEDING AS CONCLUSIVE EVIDENCE OF THIS
WAIVER BY BORROWER. 

  
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 Section 14.25. Contractual Statute of
Limitations. Borrower agrees that any claim or cause of action by Borrower or anyone claiming by, through or under Borrower against Lender, or any of Lender’s directors, officers, employees, agents, accountants or attorneys, in
connection with, arising out of, or in any way related to, the Loan, the Property, this Agreement, any of the other Loan Documents, or any of the transactions contemplated by this Agreement or the other Loan Documents, whether sounding in contract
or in tort or otherwise, shall be barred unless asserted by the commencement of an action or proceeding in a court of competent jurisdiction by the filing of a complaint within one year after Borrower first acquires or reasonably should have
acquired knowledge of the first act, occurrence or omission upon which such claim or cause of action, or any part thereof, is based and service of a summons and complaint on an officer of Lender or any other person authorized to accept service of
process on behalf of Lender, within thirty (30) days thereafter. Borrower agrees that such one-year period of time is reasonable and sufficient time to investigate and act upon any such claim or cause of
action. The one-year period provided herein shall not be waived, tolled or extended except by the specific written agreement of Lender. This provision shall survive any termination of this Agreement or any of
the other Loan Documents. 
 Section 14.26. Counterparts; Effectiveness. The Loan Documents
and any amendments, waivers, consents, or supplements thereto may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all
of which counterparts together shall constitute but one and the same instrument. This Agreement shall become effective upon the execution of a counterpart hereof by each of the parties hereto, upon the first advance of principal by Lender to
Borrower hereunder. 
 Section 14.27. Servicer; Trust Fund Expenses; Rating Agency Costs. 

(A) Lender shall have the right from time to time to designate and appoint one or more Servicers, and to change or replace any Servicer.
All rights of the Lender under the Loan Documents may be exercised by Servicer. Servicer shall be entitled to the benefit of all obligations of any of Borrower Party in favor of Lender. Borrower shall pay all of the reasonable fees and reasonable out-of-pocket costs and expenses of the Servicer upon written demand from Lender. 

(B) Borrower shall pay to Lender, or reimburse Lender for, all Trust Fund Expenses, including without limitation all Trust Fund Expenses
arising with respect to or in connection with the Loan, the Property and/or the related trust fund or other Securitization vehicle. 

(C) In connection with any Rating Agency Confirmation or other Rating Agency consent, approval or review required hereunder (other than
the initial review of the Loan by the Rating Agencies in connection with a Securitization), Borrower shall pay all of the reasonable out-of-pocket costs and expenses of
Lender, Servicer and each Rating Agency in connection therewith, and, if applicable, shall pay any fees imposed by any Rating Agency in connection therewith. 

Section 14.28.
Attorney-In-Fact. Borrower hereby irrevocably appoints Lender as Borrower’s
attorney-in-fact. This power of attorney shall be irrevocable so long as any Obligations remain outstanding under the Loan Documents, shall be deemed to be coupled with
an interest, shall survive the voluntary or involuntary dissolution of Borrower, and shall not be affected by any disability or incapacity suffered by Borrower subsequent to the date hereof. Lender shall have the right and power, without the
obligation to do so, in Lender’s name or in the name of Borrower, to execute and deliver any and all documents and instruments and perform any and all acts that are required of Borrower hereunder or that otherwise serve the purpose of providing
to Lender the full benefit of this Agreement and the other Loan Documents. Without limitation, but subject to the provisions of the Loan Documents, Lender is hereby granted full power and authority (i) to demand, collect and receive any
Receipts and any Insurance Proceeds and 

  
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Condemnation Proceeds, and to make any compromise or settlement in connection with any of the foregoing, subject to the provisions of this Agreement, (ii) to appear in any lawsuit or other
proceeding, and to file any pleading and take any action therein or with respect thereto, (iii) to endorse and deposit checks, drafts and other payments and instruments, to execute checks and drafts in the name of Borrower, and otherwise to
direct the investment and payment of all funds received by Lender or on deposit in any Account, (iv) to execute and file or record financing statements, continuation statements, applications for registration and like papers to create, perfect
or preserve any of Lender’s security interests and rights, (v) to exercise any rights of Borrower pertaining to any Account or any funds therein, and (vi) to give notices to Tenants. 

Section 14.29. Time of the Essence. Time is strictly of the essence with respect to all provisions of
this Agreement. 
 Section 14.30. No Third-Party Beneficiaries. No Persons other than the express
parties to this Agreement shall have any rights hereunder, and no Person shall be a third party beneficiary hereof. 

Section 14.31. Borrower Responsible for Obligations of Borrower Parties. Where this Agreement
or any of the Loan Documents sets forth any requirement pertaining to any Borrower Party, then the failure of such requirement to be satisfied shall constitute a Default hereunder, binding on Borrower, whether or not the subject Borrower Party is a
party hereto or thereto, whether or not such Borrower Party is contractually bound by that requirement, and whether or not Borrower has the power to cause or influence compliance or noncompliance with such requirement. Without limitation of the
foregoing, any such Default may become an Event of Default in the time provided in Article IX herein as if the same were a requirement pertaining to Borrower, without extension of time by reason of the inability of Borrower to cause
performance or cure by the applicable Borrower Party. Where this Agreement or any of the Loan Documents provides that any act, omission, condition or event pertaining to any Borrower Party shall result in recourse liability to Borrower, then such
recourse liability shall occur, whether or not the subject Borrower Party is a party hereto or thereto, whether or not such Borrower Party is bound by that provision, and whether or not Borrower has the power to cause or influence the occurrence or
cure of the matter giving rise to such liability. 
 Section 14.32. Guaranty and Environmental
indemnity Unsecured. Anything to the contrary herein or elsewhere notwithstanding, the Guaranty and the Obligations of Guarantor (as opposed to Borrower) under the Environmental Indemnity and all obligations of
Guarantor arising under any of them, including the obligations of Guarantor incorporated therein from this Agreement by reference, are not and shall not be secured in any manner whatsoever, including by any Security Instrument or by any Lien on any
Collateral. 
 Section 14.33. Multiple Parties Provisions; Joint and Several Liability. 

(A) The representations, covenants, warranties and obligations of Borrower hereunder are joint and several representations, covenants,
warranties and obligations of each and every Individual Borrower. Without limitation of the foregoing, the obligations and liabilities of each Individual Borrower hereunder shall be joint and several with each and every other Individual
Borrower, and all representations, warranties, covenants (both affirmative and negative) and all other obligations hereunder and under the other Loan Documents shall be the joint and several obligation of each Individual Borrower and any default by
any Individual Borrower shall be deemed a default by such Individual Borrower and each and every other Individual Borrower. The representations, covenants and warranties contained herein or in any other Loan Documents shall be read to apply to each
Individual Borrower when the context so requires but a breach of any such representation, covenant or warranty or a breach of any obligation under the Loan Documents by any Individual Borrower shall be deemed a breach by each and every Individual
Borrower. 

  
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 (B) Funds advanced by Lender to or at the direction of any Individual Borrower shall
be deemed advanced to or for the benefit of all of the Borrowers. 
 (C) Any notice delivered to any Individual Borrower shall be
binding on all Borrower Parties as if delivered to all of them. 
 (D) Any waiver given, request made, forbearance extended, or right,
election or option exercised by any Borrower Party shall bind all of the Borrower Parties as if the same were done by or on behalf of all of them. 

(E) Lender shall be entitled to rely on any Person reasonably believed by Lender to be acting on behalf of any Individual Borrower, and
the Borrower shall be bound by any such reliance. 
 Section 14.34. Registration. 

(A) Borrower hereby acknowledges and makes the Note a registered obligation for United States withholding tax purposes. Lender or its
designee (which may include the Servicer), as Borrower’s non-fiduciary agent for this purpose, or, in Lender’s sole discretion, the Borrower, shall be the registrar for the Note (the
“Registrar”). 
 (B) The Registrar shall maintain, or cause to be maintained, a register (the
“Register”) for the recordation of the names and addresses of Lender and any Assignees of all or any portion of Lender’s interest in the Loan (collectively, “Loan Assignees”), and the principal
amount of the Loan (and stated interest thereon) (the “Registered Loan”) held by Lender and each Loan Assignee from time to time. The entries in the Register shall be conclusive absent manifest error, and the Borrower, Lender
and the Loan Assignees shall treat each Person whose name is recorded in the Register as a Lender hereunder for all purposes of this Agreement. The Register shall be available for inspection by Borrower at any reasonable time and from time to time
upon reasonable prior notice. The Registrar shall not be entitled to any fee from Borrower or Lender or any other lender in respect of transfers of the Note and other Loan Documents. 

(C) If a Co-Lender sells participations, such Co-Lender
shall maintain a register on which it enters the name and the address of each participant (“Participant”) and the principal amounts of each Participant’s participation interest in the Loan (or other rights or
obligations) held by it (the “Participant Register”). The entries in the Participant Register shall be conclusive, absent manifest error, and such Co-Lender shall treat each Person
whose name is recorded in the Participant Register as the owner of such participation interest as the owner thereof for all purposes notwithstanding any notice to the contrary. In maintaining the Participant Register, such Co-Lender shall be acting as the non-fiduciary agent of the Borrower solely for purposes of applicable United States federal income tax law and undertakes no duty,
responsibility or obligation to the Borrower (without limitation, in no event shall such Co-Lender be a fiduciary of the Borrower for any purpose. Such Co-Lender shall
have no 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 or its other obligations under any Loan
Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan or other obligation is in registered form under Section 5f.103-1(c) of the United
States Treasury Regulations. 

  
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 Section 14.35. Contributions and Waivers. 

(A) As a result of the transactions contemplated by this Agreement and the other Loan Documents, each Individual Borrower will benefit,
directly and indirectly, from each Individual Borrower’s obligation to pay and perform the Obligations and in consideration therefore each Individual Borrower desires to enter into an allocation and contribution agreement among themselves as
set forth in this Section to allocate such benefits among themselves and to provide a fair and equitable agreement to make contributions among each of the Individual Borrowers in the event any payment is made by any Individual Borrower hereunder to
Lender (such payment being referred to herein as a “Contribution,” and for purposes of this Section, includes any exercise of recourse by Lender against any Individual Property of any Individual Borrower and
application of proceeds of such Individual Property in satisfaction of such Individual Borrower’s obligations to Lender under the Loan Documents). 

(B) Each Individual Borrower shall be liable hereunder with respect to the Obligations only for such total maximum amount (if any) that
would not render its Obligations hereunder or under any of the Loan Documents subject to avoidance under Section 548 of the Bankruptcy Code or any comparable provisions of applicable Legal Requirements. 

(C) In order to provide for a fair and equitable contribution among Borrower in the event that any Contribution is made by any
Individual Borrower (a “Funding Borrower”), such Funding Borrower shall be entitled to a reimbursement Contribution (“Reimbursement Contribution”) from all other Individual Borrowers for all payments,
damages and expenses incurred by that Funding Borrower in discharging any of the Obligations, in the manner and to the extent set forth in this Section. 

(D) For purposes hereof, the “Benefit Amount” of any Individual Borrower as of any date of determination shall
be the net value of the benefits to such Individual Borrower and its Affiliates from extensions of credit made by Lender to (i) such Individual Borrower and (ii) to the other Individual Borrowers hereunder and the Loan Documents to the
extent such other Individual Borrowers have guaranteed or mortgaged their property to secure the Obligations of such Individual Borrower to Lender. 

(E) Each Individual Borrower shall be liable to a Funding Borrower in an amount equal to the greater of (i) the (A) ratio of the
Benefit Amount of such Individual Borrower to the total amount of Obligations, multiplied by (B) the amount of Obligations paid by such Funding Borrower, or (ii) ninety-five percent (95%) of the excess of the fair saleable value of the
property of such Individual Borrower over the total liabilities of such Individual Borrower (including the maximum amount reasonably expected to become due in respect of contingent liabilities) determined as of the date on which the payment made by
a Funding Borrower is deemed made for purposes hereof (giving effect to all payments made by other Funding Borrowers as of such date in a manner to maximize the amount of such Contributions). 

(F) In the event that at any time there exists more than one Funding Borrower with respect to any Contribution (in any such case, the
“Applicable Contribution”), then Reimbursement Contributions from other Individual Borrowers pursuant hereto shall be allocated among such Funding Borrowers in proportion to the total amount of the Contribution made for or on
account of the other Individual Borrowers by each such Funding Borrower pursuant to the Applicable Contribution. In the event that at any time any Individual Borrower pays an amount hereunder in excess of the amount calculated pursuant to this
Section above, that Individual Borrower shall be deemed to be a Funding Borrower to the extent of such excess and shall be entitled to a Reimbursement Contribution from the other Individual Borrowers in accordance with the provisions of this
Section. 

  
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 (G) Each Individual Borrower acknowledges that the right to Reimbursement
Contribution hereunder shall constitute an asset in favor of Borrower to which such Reimbursement Contribution is owing. 
 (H) No
Reimbursement Contribution payments payable by an Individual Borrower pursuant to the terms of this Section shall be paid until all amounts then due and payable by all of Individual Borrowers to Lender, pursuant to the terms of the Loan Documents,
are paid in full in cash. Nothing contained in this Section shall limit or affect in any way the Obligations of any Individual Borrower to Lender under the Loan Documents. 

(I) Each Individual Borrower waives: 

(i) any right to require Lender to proceed against any other Individual Borrower or any other Person or to proceed against or
exhaust any security held by Lender at any time or to pursue any other remedy in Lender’s power before proceeding against such Individual Borrower; 

(ii) any defense based upon any legal disability or other defense of any other Individual Borrower, any guarantor of any other
Person or by reason of the cessation or limitation of the liability of any other Individual Borrower or any guarantor from any cause other than full payment of all sums payable under the Loan Documents; 

(iii) any defense based upon any lack of authority of the officers, directors, partners or agents acting or purporting to act
on behalf of any other Individual Borrower or any principal of any other Individual Borrower or any defect in the formation of any other Individual Borrower or any principal of any other Individual Borrower; 

(iv) any defense based upon any statute or rule of law which provides that the obligation of a surety must be neither larger in
amount nor in any other respects more burdensome than that of a principal; 
 (v) any defense based upon any failure by
Lender to obtain collateral for the indebtedness or failure by Lender to perfect a lien on any collateral; 
 (vi)
presentment, demand, protest and notice of any kind; 
 (vii) any defense based upon any failure of Lender to give notice of
sale or other disposition of any collateral to any other Individual Borrower or to any other Person or any defect in any notice that may be given in connection with any sale or disposition of any collateral; 

(viii) any defense based upon any failure of Lender to comply with applicable laws in connection with the sale or other
disposition of any collateral, including any failure of Lender to conduct a commercially reasonable sale or other disposition of any collateral; 

(ix) any defense based upon any use of cash collateral under Section 363 of the Bankruptcy Code; 

(x) any defense based upon any agreement or stipulation entered into by Lender with respect to the provision of adequate
protection in any bankruptcy proceeding; 
 (xi) any defense based upon any borrowing or any grant of a security interest
under Section 364 of the Bankruptcy Code; 

  
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 (xii) any defense based upon the avoidance of any security interest in favor
of Lender for any reason; 
 (xiii) any defense based upon any bankruptcy, insolvency, reorganization, arrangement,
readjustment of debt, liquidation or dissolution proceeding, including any discharge of, or bar or stay against collecting, all or any of the obligations evidenced by the Note or owing under any of the Loan Documents; 

(xiv) any defense or benefit based upon such Individual Borrower’s, or any other party’s, resignation of the portion
of any obligation secured by the Security Instrument to be satisfied by any payment from any other Individual Borrower or any such party; 

(xv) all rights and defenses arising out of an election of remedies by Lender even though the election of remedies, such as non-judicial foreclosure with respect to security for the Loan or any other amounts owing under the Loan Documents, has destroyed such Individual Borrower’s rights of subrogation and reimbursement against any
other Individual Borrower; and 
 (xvi) all rights and defenses that such Individual Borrower may have because any of the
Loan is secured by real property. This means, among other things (subject to the other terms and conditions of the Loan Documents): (1) Lender may collect from such Individual Borrower without first foreclosing on any real or personal property
collateral pledged by any other Individual Borrower, and (2) if Lender forecloses on any real property collateral pledged by any other Individual Borrower, (I) the amount of the Obligations may be reduced only by the price for which that
collateral is sold at the foreclosure sale, even if the collateral is worth more than the sale price and (II) Lender may collect from such Individual Borrower even if any other Individual Borrower, by foreclosing on the real property
collateral, has destroyed any right such Individual Borrower may have to collect from any other Individual Borrower. This is an unconditional and irrevocable waiver of any rights and defenses such Individual Borrower may have because any of the
Obligations are secured by real property; and except as may be expressly and specifically permitted herein, any claim or other right which such Individual Borrower might now have or hereafter acquire against any other Individual Borrower or any
other Person that arises from the existence or performance of any obligations under the Loan Documents, including any of the following: (i) any right of subrogation, reimbursement, exoneration, contribution, or indemnification; or (ii) any
right to participate in any claim or remedy of Lender against any other Borrower or any collateral security therefor, whether or not such claim, remedy or right arises in equity or under contract, statute or common law. 

(J) Each Individual Borrower hereby restates and makes the waivers made by Guarantor in the Guaranty for the benefit of Lender. Such
waivers are hereby incorporated by reference as if fully set forth herein (and as if applicable to each Individual Borrower) and shall be effective for all purposes under the Loan (including, without limitation, in the event that any Individual
Borrower is deemed to be a surety or guarantor of the Loan (by virtue of each Individual Borrower being co-obligors and jointly and severally liable hereunder, by virtue of each Individual Borrower encumbering
its interest in the applicable Individual Property for the benefit or debts of the other Individual Borrowers in connection herewith or otherwise)). 

Section 14.36. Cross-Default; Cross-Collateralization. Borrower acknowledges that Lender has made the
Loan to Borrower upon the security of its collective interest in the Property and in reliance upon the aggregate of the Individual Properties taken together being of greater value as collateral security than the sum of each Individual Property taken
separately. Borrower agrees that each of the Loan Documents (including, without limitation, the Security Instruments) are and will be cross collateralized and cross defaulted with each other so that (i) an Event of Default under any of the Loan
Documents shall constitute an Event of Default under each of the other Loan Documents; (ii) an Event of Default hereunder shall constitute an Event of Default under each Security Instrument; (iii) each Security Instrument shall constitute
security for the Note as if a single blanket lien were placed on all of the Individual Properties as security for the Note; and (iv) such cross collateralization shall in no event be deemed to constitute a fraudulent conveyance and Borrower
waives any claims related thereto. 

  
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 Section 14.37. EU
Bail-In Rule. Notwithstanding anything to the contrary in any of the Loan Documents or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that
any liability of any EEA Financial Institution arising under any Loan Document may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 

(A) the application of any EEA 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 EEA 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 Loan Document; or 
 (iii) the variation of the terms of such liability in connection with the exercise of the EEA
Write-Down and Conversion Powers of any EEA Resolution Authority. 
 Section 14.38. Brokers and
Advisors. Borrower acknowledges and agrees that no agreement, arrangement or dealings by or between Borrower or Guarantor with any broker or intermediary creates any right of broker or intermediary to bind Lender, and that Lender shall not
be responsible for any undertaking, assurance, information or advice given to Borrower by any broker or intermediary, irrespective of whether such entity is compensated by Lender or by Borrower. Borrower acknowledges that Lender may pay fees to one
or more brokers or intermediaries in addition to any fees that are paid by Borrower or Lender at closing. The fees may include a direct, one-time payment, incentive payments based on volume and size of
financings, profit-sharing payments, and/or an ongoing interest strip in the Loan. In addition, any such broker or intermediary may be retained by Lender to act as a servicer or sub-servicer for the Loan, in
which case such entity will receive fees relating to that activity, and may receive compensation if a buyout of such servicing or sub-servicing may occur. 

Section 14.39. Certain Additional Rights of Lender (VCOC). Notwithstanding anything to the contrary
contained in this Agreement, Lender shall have: 
 (A) the right to routinely consult with and advise Borrower’s management
regarding the significant business activities and business and financial developments of Borrower; provided, however, that such consultations shall not include discussions of environmental compliance programs or disposal of hazardous
substances. Consultation meetings should occur on a regular basis (no less frequently than quarterly) with Lender having the right to call special meetings at any reasonable times and upon reasonable advance notice; and 

  
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 (B) the right, without restricting any other rights of Lender under this Agreement
(including any similar right), to approve any acquisition by any Individual Borrower of any other significant property (other than personal property required for the day to day operation of the applicable Individual Property). 

The rights described above in this Section 14.39 may be exercised by any entity which owns and controls, directly or indirectly,
substantially all of the interests in any Co-Lender. 
 [SIGNATURES FOLLOW ON NEXT
PAGE] 

  
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 IN WITNESS the due execution hereof by the respective duly authorized officers of the
undersigned as of the date first written above. 
  

			
	BORROWER:
	
	SSGT 1001 TOLLGATE RD, LLC
	SSGT 1111 W GLADSTONE ST, LLC
	SSGT 1302 MARQUETTE DR, LLC
	SSGT 1671 NORTHPARK DR, LLC
	SSGT 4349 S JONES BLVD, LLC
	SSGT 4866 E RUSSELL RD, LLC
	SSGT 7211 ARLINGTON AVE, LLC
	SSGT 7760 LORRAINE AVE, LLC
	SSGT 8239 BROADWAY ST, LLC
	SST II 10451 NW 33RD ST, LLC
	SST II 120 CENTREWEST CT, LLC
	SST II 1325 BENDEN WAY, LLC
	SST II 1341 S STATE RD 7, LLC
	SST II 1401 ENTERPRISE ST, LLC
	SST II 150 AIRPORT BLVD, LLC
	SST II 1597 MARKET ST, LLC
	SST II 1840 VICTORIA ST, LLC
	SST II 1880 WILLIAMSBURG PIKE, LLC
	SST II 1900 BELLBROOK AVE, LLC
	SST II 21 KINGS CHAPEL DR, LLC
	SST II 4950 WESTERN AVE, LLC
	SST II 5012 NEW BERN AVE, LLC
	SST II 5200 COLISEUM WAY, LLC
	SST II 525 SW SOUTH MACEDO BLVD, LLC
	SST II 660 GARDEN HWY, LLC
	SST II 6950 S GARTRELL RD, LLC
	SST II 700 RUSSELL RD, LLC
	SST II 7755 PRESERVE LN, LLC
	SST II ROSSVILLE BLVD, LLC
	
	each a Delaware limited liability company
		
	By:	 	Strategic Storage Trust II, Inc., a Maryland corporation, its Manager
		
	By:	 	 /s/ Michael S. McClure

	Name:	 	Michael S. McClure
	Title:	 	President
	
	[Signature Pages Continue]

 
			
	 SST II TRS MORTGAGE, LLC,
 a
Delaware limited liability company

		
	By:	 	 Strategic Storage TRS II, Inc,
 a Delaware
corporation, its Manager

		
	By:	 	 /s/ Michael S. McClure

	Name:	 	Michael S. McClure
	Title:	 	President
	
	 SSGT TRS MORTGAGE, LLC,
 a Delaware
limited liability company

		
	By:	 	SS Growth TRS, Inc., a Delaware corporation, its Manager
		
	By:	 	 /s/ Michael S. McClure

	Name:	 	Michael S. McClure
	Title:	 	President
	
	[Signature Pages Continue]

 
			
	LENDER:
	
	 KEYBANK NATIONAL ASSOCIATION,

a national banking association

		
	By:	 	 /s/ Cynthia Milioto

	Name:	 	 Cynthia Milioto

	Title:	 	 Vice President

	
	 CITI REAL ESTATE FUNDING INC.,

a New York corporation

		
	By:	 	 /s/ Harry Kramer

	Name:	 	 Harry Kramer

	Title:	 	 Vice President

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