Document:

Exhibit 10.1

 

EXECUTION VERSION

 

 

 

 

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

among

SPRAGUE OPERATING RESOURCES LLC,

as U.S. Borrower,

and

KILDAIR SERVICE ULC,

as Canadian Borrower,

and

The Several Lenders

from time to time Parties Hereto,

and

MUFG BANK, LTD.,

as Administrative Agent

Dated as of May 19, 2020

 

 

BNP PARIBAS,

CITIZENS BANK, N.A.,

SOCIÉTÉ GÉNÉRALE,

WELLS FARGO BANK, N.A., and

COÖPERATIEVE RABOBANK U.A., NEW YORK
BRANCH,

as Co-Syndication Agents,

and

ABN AMRO CAPITAL USA LLC, and

SANTANDER BANK, N.A.,

as Co-Documentation Agents,

and

MUFG BANK, LTD., and

BNP PARIBAS,

as Co-Collateral Agents

and

MUFG BANK, LTD.,

BNP PARIBAS,

CITIZENS BANK, N.A.,

SOCIÉTÉ GÉNÉRALE,

WELLS FARGO SECURITIES, LLC, and

COÖPERATIEVE RABOBANK U.A., NEW YORK BRANCH,

as Joint Lead Arrangers and Joint Bookrunners

THIS AGREEMENT PROVIDES FOR AN UNCOMMITTED
TRANCHE.

ALL ADVANCES AND ISSUANCES OF LETTERS OF CREDITS

UNDER SUCH UNCOMMITTED TRANCHE ARE DISCRETIONARY

ON THE PART OF THE APPLICABLE LENDERS IN THEIR SOLE AND ABSOLUTE 

DISCRETION.

 

 

 

 

     

     

    

 

TABLE OF CONTENTS

 

	 	 	 	Page
	 	 	 	 
	SECTION 1     	DEFINITIONS	1
	 	 	 	 
	 	1.1	Defined Terms	1
	 	1.2	Other Definitional Provisions; Terms Generally	100
	 	1.3	Rounding	101
	 	1.4	Quebec Matters	101
	 	1.5	Divisions	102
	 	1.6	Interest Rates	102
	 	 	 	 
	SECTION 2	AMOUNT AND TERMS OF THE LOANS, COMMITMENTS and DOLLAR WORKING CAPITAL FACILITY UNCOMMITTED TRANCHE PORTIONS	102
	 	 	 	 
	 	2.1	Working Capital Facility Loans	102
	 	2.2	[Reserved]	104
	 	2.3	Swing Line Loans	104
	 	2.4	Acquisition Facility Loans	107
	 	2.5	Procedure for Borrowing Loans	107
	 	2.6	Refunding of Swing Line Loans	113
	 	2.7	Foreign Exchange Rate	116
	 	2.8	Commitment Fee	117
	 	 	 	 
	SECTION 3 	LETTERS OF CREDIT	117
	 	 	 	 
	 	3.1	Working Capital Facility Letters of Credit	117
	 	3.2	Acquisition Facility Letters of Credit	119
	 	3.3	Procedure for the Issuance and Amendments of Letters of Credit	119
	 	3.4	General Terms of Letters of Credit	122
	 	3.5	Fees, Commissions and Other Charges	125
	 	3.6	L/C Participations	125
	 	3.7	Reimbursement Obligations of the Borrowers	127
	 	3.8	Obligations Absolute	128
	 	3.9	Role of the Issuing Lenders	129
	 	3.10	Letter of Credit Request	130
	 	 	 	 
	SECTION 4	GENERAL PROVISIONS APPLICABLE TO LOANS AND LETTERS OF CREDIT	130
	 	 	 	 
	 	4.1	Increase, Termination or Reduction of Commitments or Total Dollar Working Capital Facility Uncommitted Tranche Portions	130
	 	4.2	Interest Rates and Payment Dates	133

 

    -i-

     

    

 

	 	4.3	Conversion and Continuation
Options	134
	 	4.4	Minimum Amounts of Tranches; Maximum Number
of Tranches	135
	 	4.5	Repayment of Loans; Evidence of Debt	135
	 	4.6	Optional Prepayments	136
	 	4.7	Mandatory Prepayments	137
	 	4.8	Computation of Interest and Fees	139
	 	4.9	Pro Rata Treatment and Payments	140
	 	4.10	Requirements of Law	141
	 	4.11	Taxes	143
	 	4.12	Lending Offices	148
	 	4.13	Credit Utilization Reporting	148
	 	4.14	Indemnity	148
	 	4.15	Market Disruption and Inability to Determine
Interest Rate	148
	 	4.16	Illegality	149
	 	4.17	Replacement of Lenders	150
	 	4.18	Defaulting Lender	151
	 	4.19	Interest Act (Canada)	155
	 	4.20	Limitations on Interest	155
	 	4.21	Replacement Facility	156
	 	4.22	Election of Approving Lenders to Continue Funding	157
	 	4.23	Effect of Benchmark Transition Event	158
	 	 	 	 
	SECTION 5      	REPRESENTATIONS AND WARRANTIES	159
	 	 	 	 
	 	5.1	Financial Condition	160
	 	5.2	No Change	160
	 	5.3	Existence; Compliance with Law	161
	 	5.4	Power; Authorization; Enforceable Obligations	161
	 	5.5	No Legal Bar	161
	 	5.6	No Material Litigation	162
	 	5.7	No Default	162
	 	5.8	Ownership of Property; Liens	162
	 	5.9	Intellectual Property	162
	 	5.10	No Burdensome Restrictions	162
	 	5.11	Taxes	163
	 	5.12	Federal Regulations	163
	 	5.13	ERISA	163
	 	5.14	Investment Company Act; Other Regulations	164
	 	5.15	Subsidiaries	164
	 	5.16	Security Documents	165
	 	5.17	Accuracy and Completeness of Information	166
	 	5.18	Labor Relations	166
	 	5.19	Insurance	167
	 	5.20	Solvency	167
	 	5.21	Use of Letters of Credit and Proceeds of Loans	167
	 	5.22	Environmental Matters	169

 

    -ii-

     

    

 

	 	5.23	Risk Management Policy	170
	 	5.24	Anti-Corruption Laws and Sanctions	170
	 	5.25	Canadian Pension Plan and Benefit Plans	171
	 	5.26	EEA Financial Institutions	171
	 	5.27	Beneficial Ownership Certification	171
	 	 	 	 
	SECTION 6      	CONDITIONS PRECEDENT	172
	 	 	 	 
	 	6.1	Conditions Precedent	172
	 	6.2	Conditions to Each Credit Extension	180
	 	 	 	 
	SECTION 7 	AFFIRMATIVE
COVENANTS	183
	 	 	 	 
	 	7.1	Financial Statements	183
	 	7.2	Certificates; Other Information	185
	 	7.3	Payment of Obligations	186
	 	7.4	Conduct of Business and Maintenance of Existence	186
	 	7.5	Maintenance of Property; Insurance	186
	 	7.6	Inspection of Property; Books and Records; Discussions	187
	 	7.7	Notices	187
	 	7.8	Environmental Laws	188
	 	7.9	Periodic Audit of Borrowing Base Assets	189
	 	7.10	Risk Management Policy	189
	 	7.11	Collections of Accounts Receivable	190
	 	7.12	Taxes	190
	 	7.13	Additional Collateral; Further Actions	190
	 	7.14	Use of Proceeds	193
	 	7.15	Cash Management	193
	 	7.16	New Business Valuations of Approved Acquisition
Assets	194
	 	7.17	Post-Closing Matters	194
	 	7.18	Canadian Pension Plans and Benefit Plans	194
	 	 	 	 
	SECTION 8 	NEGATIVE
COVENANTS	195
	 	 	 	 
	 	8.1	Financial Condition Covenants	195
	 	8.2	Limitation on Indebtedness	196
	 	8.3	Limitation on Liens	197
	 	8.4	Limitation on Fundamental Changes	199
	 	8.5	Restricted Payments	200
	 	8.6	Limitation on Sale of Assets	201
	 	8.7	Limitation on Capital Expenditures	202
	 	8.8	Limitation on Investments, Loans and Advances	203
	 	8.9	Limitation on Payments or Modifications of Junior
Debt Instruments	203
	 	8.10	Limitation on Transactions with Affiliates	204
	 	8.11	Accounting Changes	205
	 	8.12	Limitation on Negative Pledge Clauses	205

 

    -iii-

     

    

 

	 	8.13	Limitation on Lines of Business	206
	 	8.14	Governing Documents	206
	 	8.15	Limitations on Clauses Restricting Subsidiary
Distributions	206
	 	8.16	Canadian Pension Plan	206
	 	8.17	Use of Proceeds	207
	 	8.18	Loan Parties	207
	 	 	 	 
	SECTION 9      	EVENTS
OF DEFAULT	207
	 	 	 	 
	 	9.1	Events of Default	207
	 	 	 	 
	SECTION 10 	THE
ADMINISTRATIVE AGENT	211
	 	 	 	 
	 	10.1	Appointment	211
	 	10.2	Delegation of Duties	213
	 	10.3	Exculpatory Provisions	213
	 	10.4	Reliance by Administrative Agent	214
	 	10.5	Notice of Default	214
	 	10.6	Non-Reliance on Administrative Agent and Other
Lenders	214
	 	10.7	Indemnification	215
	 	10.8	Administrative Agent in Its Individual Capacity	216
	 	10.9	Successor Administrative Agent	216
	 	10.10	Collateral Matters	216
	 	10.11	Arrangers, Co-Documentation Agents, Co-Collateral
Agents and the Co-Syndication Agents	217
	 	10.12	Credit Bidding	217
	 	10.13	Single Action Rule	218
	 	10.14	Collateral Sharing Provisions	219
	 	10.15	Certain ERISA Matters	219
	 	 	 	 
	SECTION 11 	MISCELLANEOUS	221
	 	 	 	 
	 	11.1	Amendments and Waivers	221
	 	11.2	Notices	223
	 	11.3	No Waiver; Cumulative Remedies	226
	 	11.4	Survival of Representations and Warranties	227
	 	11.5	Release of Collateral and Guarantee Obligations	227
	 	11.6	Payment of Costs and Expenses	227
	 	11.7	Successors and Assigns; Participations and Assignments	228
	 	11.8	Adjustments; Set-off	233
	 	11.9	Counterparts	234
	 	11.10	Severability	235
	 	11.11	Integration	235
	 	11.12	Governing Law	235
	 	11.13	Submission to Jurisdiction; Waiver of Certain
Damages	235
	 	11.14	Acknowledgements	236

 

    -iv-

     

    

 

	 	11.15                	Waivers of Jury Trial	236
	 	11.16	Confidentiality	236
	 	11.17	Specified Laws	238
	 	11.18	No Fiduciary Duty, etc.	238
	 	11.19	Additional Borrowers	239
	 	11.20	Joint and Several Liability	240
	 	11.21	Contribution and Indemnification among the Borrower Parties; Subordination	242
	 	11.22	Express Waivers by Borrower Parties in Respect
of Cross Guaranties and Cross Collateralization	242
	 	11.23	Limitation on Obligations of Borrower Parties	243
	 	11.24	Keepwell	244
	 	11.25	Judgment Currency	244
	 	11.26	English Language	245
	 	11.27	Effect of Amendment and Restatement	245
	 	11.28	Acknowledgement and Consent to Bail-In of Affected
Financial Institutions	246
	 	11.29	Acknowledgement Regarding Any Supported QFCs	246
	 	11.30	Approved Organizational Changes	247

 

    -v-

     

    

 

	SCHEDULES	 
	 	 
	Schedule 1.0	Lenders, Commitments, Dollar Working Capital Facility Uncommitted Tranche Portions and Applicable Lending Offices
	 	 
	Schedule 1.1(A)     	Approved Inventory Locations
	Schedule 1.1(B)	Cash Management Banks
	Schedule 1.1(C)	Eligible Foreign Counterparties
	Schedule 1.1(D)	Independent Entity Schedule
	Schedule 1.1(E)	Mortgaged Property
	Schedule 1.1(F)	Specified Account Debtors
	Schedule 1.1(G)	Issuance Caps
	Schedule 1.1(H)	Swing Line Caps
	Schedule 1.1(I)	Excluded Accounts
	Schedule 2.2	Wire Instructions for Working Capital Facility Loans and Swing Line Loans
	Schedule 3.1(a)	Existing Dollar Working Capital Facility Letters of Credit
	Schedule 3.1(b)	Existing Multicurrency Working Capital Facility Letters of Credit
	Schedule 3.2	Existing Acquisition Facility Letters of Credit
	Schedule 5.1(c)	Liabilities
	Schedule 5.1(f)	Acquisitions
	Schedule 5.4	Consents and Authorizations
	Schedule 5.9	Intellectual Property
	Schedule 5.15	Subsidiaries
	Schedule 5.16	Filing Jurisdictions
	Schedule 5.18	Labor Relations
	Schedule 5.19	Insurance
	Schedule 5.22	Environmental Matters
	Schedule 5.25	Canadian Pension Plans and Benefit Plans
	Schedule 8.2	Existing Indebtedness
	Schedule 8.3	Existing Liens
	Schedule 8.6	Dispositions
	Schedule 8.8	Investments
	Schedule 8.10	Transactions with Affiliates
	 	 
	EXHIBITS	 
	 	 
	Exhibit A-1	Form of Dollar Working Capital Facility Committed Tranche Note
	Exhibit A-2	Form of Dollar Working Capital Facility Uncommitted Tranche Note
	Exhibit A-3	Form of Multicurrency Working Capital Facility Note
	Exhibit A-4	Form of Dollar Committed Tranche Swing Line Note
	Exhibit A-5	Form of Dollar Uncommitted Tranche Swing Line Note
	Exhibit A-6	Form of Multicurrency Swing Line Note
	Exhibit A-7	Form of Acquisition Facility Note
	Exhibit B	[Reserved]
	Exhibit C	[Reserved]
	Exhibit D-1	Form of Section 4.11 Certificate (For Non-U.S. Lenders That Are Not Partnerships)

 

    -vi-

     

    

 

	Exhibit D-2             	Form of Section 4.11 Certificate (For Non-U.S. Participants That Are Not Partnerships)
	Exhibit D-3	Form of Section 4.11 Certificate (For Non-U.S. Participants That Are Partnerships)
	Exhibit D-4	Form of Section 4.11 Certificate (For Non-U.S. Lenders That Are Partnerships)
	Exhibit E	Form of Secretary’s Certificate
	Exhibit F	Form of Assignment and Acceptance
	Exhibit G	Form of Borrowing Base Report
	Exhibit H-1	Form of Intercompany Subordination Agreement
	Exhibit H-2	Form of Axel Johnson Subordination Agreement
	Exhibit I	Risk Management Policy
	Exhibit J	[Reserved]
	Exhibit K	Cash Collateral Documentation
	Exhibit L	Form of U.S. Mortgage and Security Agreement
	Exhibit M	Form of Position Report
	Exhibit N	[Reserved]
	Exhibit O	Form of Compliance Certificate
	Exhibit P	Form of Increase and New Lender Agreement
	Exhibit Q	Form of Perfection Certificate
	Exhibit R	Form of Marked-to-Market Report
	Exhibit S	Form of Borrower’s Certificate
	Exhibit T	Form of Hedging Agreement Qualification Notification
	Exhibit U	Form of Joinder Agreement
	Exhibit V	Form of Solvency Certificate
	 	 
	ANNEXES	 
	 	 
	Annex I	Form of Borrowing Notice
	Annex II	Form of Continuation/Conversion Notice
	Annex III	Form of Notice of Prepayment
	Annex IV	Form of Credit Utilization Summary
	Annex V	Form of Declining Lender Notice

 

    -vii-

     

    

 

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

SECOND AMENDED AND RESTATED
CREDIT AGREEMENT, dated as of May 19, 2020, among SPRAGUE OPERATING RESOURCES LLC, a Delaware limited liability company (the
 “U.S. Borrower”), Kildair Service ULC, a corporation originally formed under the laws of Canada and continued
under the laws of British Columbia (“Kildair” or the “Canadian Borrower” and, together with
the U.S. Borrower, the “Borrowers”), the several banks and other financial institutions or entities from time
to time parties to this Agreement, as lenders (the “Lenders”), and MUFG BANK, LTD., (“MUFG”),
as administrative agent (together with any successor Administrative Agent appointed pursuant to Section 10.9, in such
capacity the “Administrative Agent”).

 

W I T N E S S E T H:

 

WHEREAS, the Borrowers
are party to the Existing Credit Agreement (as defined below) with the several banks and other financial institutions parties thereto
and MUFG, as successor administrative agent, successor Canadian agent and successor collateral agent;

 

WHEREAS, the Borrowers,
the Lenders and the Administrative Agent have, subject to the terms and conditions set forth herein, agreed to amend and restate
the Existing Credit Agreement as provided in this Agreement;

 

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 such obligations and liabilities and that this Agreement amend and restate in its
entirety the Existing Credit Agreement and re-evidence the obligations of each Borrower outstanding thereunder;

 

NOW, THEREFORE, in consideration
of the above premises, each Borrower, each Lender and the Administrative Agent (in its capacity as successor administrative agent,
successor Canadian agent and successor collateral agent under the Existing Credit Agreement) 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 following terms shall have the following meanings:

 

“Acceptable
Investment Grade Credit Enhancement”: with respect to any Account Receivable, (i) a letter of credit in form and
substance reasonably acceptable to the Administrative Agent issued by a bank which is Investment Grade and which letter of credit
does not terminate earlier than fifteen (15) days after the expected payment date of such Account Receivable; provided,
that, upon the request of the Administrative Agent during the continuance of an Event of Default, with respect to each letter of
credit described in this clause (i), the applicable Loan Party shall (A) assign the proceeds of such letter of credit
to the Administrative Agent, (B) cause the issuing bank of such letter of credit to consent to such assignment and (C) cause
any such letter of credit issued to be advised by the Administrative Agent, or (ii) a parent guarantee, insurance policy,
surety bond or other customary credit support, in each case, (A) provided by any Person who is Investment Grade and (B) in
form and substance reasonably acceptable to the Administrative Agent.

 

    

     

    

 

“Account”:
any “account” as defined in Section 9-102 of the UCC and any “account” as defined under the PPSA and
any “claim” for purposes of the Civil Code of Quebec.

 

“Account Control
Agreements”: with respect to any Deposit Account, Commodity Account or Securities Account of a Loan Party (other than
Excluded Accounts), an account control agreement in form and substance reasonably acceptable to the applicable Loan Party and the
Administrative Agent.

 

“Account Debtor”:
a Person who is obligated to a Loan Party under an Account Receivable or Exchange Receivable of such Loan Party.

 

“Account Receivable”:
an Account or Payment Intangible of a Loan Party.

 

“Acquisition”:
as to any Person, the acquisition by such Person of (a) Capital Stock of any other Person if, after giving effect to the acquisition
of such Capital Stock, such other Person would be a Subsidiary, (b) all or substantially all of the assets of any other Person
or (c) assets constituting one or more business units of any other Person.

 

“Acquisition
Assets”: all assets of the Loan Parties other than (a) assets of any Exempt CFC or any Subsidiary thereof, (b) assets
included in the U.S. Borrowing Base or the Kildair Borrowing Base and (c) Excluded Assets (as defined in the U.S. Security
Agreement or the Canadian Security Agreement, as applicable); provided that (i) subject to clause (ii) below,
no such asset shall be an Acquisition Asset unless it is subject to a Perfected First Lien and is free and clear of all Liens other
than Liens permitted hereunder and (ii) any asset that is acquired in an acquisition permitted by this Agreement and that
would constitute an Acquisition Asset but for the fact that it is not subject to a Perfected First Lien shall be deemed to be an
Acquisition Asset from the date of acquisition thereof, but shall cease to be an Acquisition Asset on the 60th day (or such longer
time as may be agreed by the Administrative Agent) following the date of its acquisition unless on or prior to that day it has
become, and then remains, subject to a Perfected First Lien and is free and clear of all Liens other than Liens permitted hereunder.

 

“Acquisition
Facility”: the Acquisition Facility Commitments and the extensions of credit thereunder.

 

“Acquisition
Facility Acquisition Extensions of Credit”: at any date, as to any Acquisition Facility Lender, that portion of the Acquisition
Facility Extensions of Credit that are not Acquisition Facility Working Capital Extensions of Credit.

 

“Acquisition
Facility Acquisition Letter of Credit”: each Acquisition Facility Letter of Credit that is an Acquisition Facility Acquisition
Extension of Credit.

 

    	-2-	 

     

    

 

“Acquisition
Facility Acquisition Loan”: each Acquisition Facility Loan that is an Acquisition Facility Acquisition Extension of Credit.

 

“Acquisition
Facility Commitment”: at any date, as to any Acquisition Facility Lender, the obligation of such Acquisition Facility
Lender to make Acquisition Facility Loans to the Borrowers pursuant to Section 2.4 and to participate in Acquisition
Facility Letters of Credit in an aggregate principal and/or face amount at any one time outstanding not to exceed the amount set
forth opposite such Acquisition Facility Lender’s name on Schedule 1.0 under the caption “Acquisition Facility
Commitment” or, as the case may be, in the Assignment and Acceptance pursuant to which such Acquisition Facility Lender becomes
a party hereto, as such amount may be changed from time to time in accordance with the terms of this Agreement. As of the Restatement
Effective Date, the original aggregate amount of the Acquisition Facility Commitments is $430,000,000.

 

“Acquisition
Facility Commitment Percentage”: as to any Acquisition Facility Lender at any time, the percentage which such Acquisition
Facility Lender’s Acquisition Facility Commitment then constitutes of the aggregate Acquisition Facility Commitments of all
Acquisition Facility Lenders at such time (or, at any time after the Acquisition Facility Commitments shall have expired or terminated,
such Acquisition Facility Lender’s Acquisition Facility Credit Exposure Percentage).

 

“Acquisition
Facility Commitment Period”: the period from and including the Restatement Effective Date to but not including the Acquisition
Facility Commitment Termination Date or such earlier date on which all of the Acquisition Facility Commitments shall terminate
as provided herein.

 

“Acquisition
Facility Commitment Termination Date”: May 19, 2022, or, if such date is not a Business Day, the next preceding Business
Day.

 

“Acquisition
Facility Credit Exposure”: as to any Acquisition Facility Lender at any time, the Available Acquisition Facility Commitment
of such Acquisition Facility Lender plus, the amount of the Acquisition Facility Extensions of Credit of such Acquisition
Facility Lender.

 

“Acquisition
Facility Credit Exposure Percentage”: as to any Acquisition Facility Lender at any time, the fraction (expressed as a
percentage), the numerator of which is the Acquisition Facility Credit Exposure of such Acquisition Facility Lender at such time
and the denominator of which is the aggregate Acquisition Facility Credit Exposures of all of the Acquisition Facility Lenders
at such time.

 

“Acquisition
Facility Extensions of Credit”: at any date, as to any Acquisition Facility Lender at any time, an amount equal to the
aggregate principal amount of Acquisition Facility Loans made by such Acquisition Facility Lender plus the amount of the
undivided interest of such Acquisition Facility Lender (based on such Acquisition Facility Lenders’ Acquisition Facility
Credit Exposure Percentage) in any then-outstanding Acquisition Facility L/C Obligations.

 

“Acquisition
Facility Increase”: as defined in Section 4.1(b).

 

    	-3-	 

     

    

 

“Acquisition
Facility Issuing Lenders”: MUFG, BNP Paribas, Société Générale,
Wells Fargo Bank, N.A., and each other Acquisition Facility Lender from time to time designated by the U.S. Borrower (and
agreed to by such Lender) as an Acquisition Facility Issuing Lender with the prior consent of the Administrative Agent (such consent
not to be unreasonably withheld, conditioned or delayed) (and upon such designation and agreement, each such Lender shall set forth
its Issuance Cap on Schedule 1.1(G) pursuant to the terms of this Agreement), each in its capacity as issuer of any Acquisition
Facility Letter of Credit.

 

“Acquisition
Facility 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 Acquisition Facility Letters of Credit and (b) the aggregate amount of drawings under Acquisition
Facility Letters of Credit which have not then been reimbursed or converted to an Acquisition Facility Loan pursuant to Section 3.7.

 

“Acquisition
Facility L/C Participants”: with respect to any Acquisition Facility Letter of Credit, all of the Acquisition Facility
Lenders other than the Acquisition Facility Issuing Lender thereof.

 

“Acquisition
Facility L/C Participation Obligations”: the obligations of the Acquisition Facility L/C Participants to purchase
participations in the obligations of the Acquisition Facility Issuing Lenders under outstanding Acquisition Facility Letters of
Credit pursuant to Section 3.6.

 

“Acquisition
Facility Lender”: each Lender having an Acquisition Facility Commitment (or, after the termination of the Acquisition
Facility Commitments, each Lender holding Acquisition Facility Extensions of Credit), and, as the context requires, includes the
Acquisition Facility Issuing Lenders. As of the Restatement Effective Date, each Acquisition Facility Lender is specified on Schedule 1.0.

 

“Acquisition
Facility Letter of Credit”: as defined in Section 3.2.

 

“Acquisition
Facility Letter of Credit Sub-Limit”: $50,000,000 at any time outstanding.

 

“Acquisition
Facility Loans”: as defined in Section 2.4(a).

 

“Acquisition
Facility Maintenance Cap-Ex Extensions of Credit”: Acquisition Facility Loans and Acquisition Facility Letters of Credit
which are used to finance Capital Expenditures for the maintenance of existing assets or property of the Loan Parties, as designated
by the applicable Borrower in good faith.

 

“Acquisition
Facility Maintenance Cap-Ex Sub-Limit”: $25,000,000 during any Fiscal Year.

 

“Acquisition
Facility Maturity Date”: with respect to any Acquisition Facility Loan, the earliest to occur of (i) the date on
which the Acquisition Facility Loans become due and payable pursuant to Section 9, (ii) the date on which the
Acquisition Facility Commitments terminate pursuant to Section 4.1 and (iii) the Acquisition Facility Commitment
Termination Date.

 

    	-4-	 

     

    

 

“Acquisition
Facility Performance Letters of Credit”: Acquisition Facility Letters of Credit that are Performance Letters of Credit.

 

“Acquisition
Facility Transportation Letter of Credit”: an Acquisition Facility Performance Letter of Credit that is issued to support
the transportation of Eligible Commodities (other than the obligation to pay for the purchase of Eligible Commodities).

 

“Acquisition
Facility Transportation Letter of Credit Sub-Limit”: $25,000,000 at any time outstanding.

 

“Acquisition
Facility Working Capital Availability Time”: any time during the period commencing on August 1 of any year and ending
on March 31 of the next year when the sum of the aggregate Available Dollar Working Capital Facility Uncommitted Tranche Portions,
aggregate Available Dollar Working Capital Facility Commitments and aggregate Available Multicurrency Working Capital Facility
Commitments is $0.

 

“Acquisition
Facility Working Capital Extensions of Credit”: Acquisition Facility Loans and Acquisition Facility Letters of Credit
which are used for general working capital purposes, including to finance assets included in the U.S. Borrowing Base or the Kildair
Borrowing Base.

 

“Acquisition
Facility Working Capital Letter of Credit”: each Acquisition Facility Letter of Credit that is an Acquisition Facility
Working Capital Extension of Credit.

 

“Acquisition
Facility Working Capital Loan”: each Acquisition Facility Loan that is an Acquisition Facility Working Capital Extension
of Credit.

 

“Acquisition
Facility Working Capital Sub-Limit”: an amount at the time of the incurrence of any Acquisition Facility Working Capital
Extension of Credit equal to (a) at any time when an Acquisition Facility Working Capital Availability Time is in effect,
the lesser of (i) the Borrowing Base Availability and (ii) the Available Acquisition Facility Commitment, and (b) at
any time other than when an Acquisition Facility Working Capital Availability Time is in effect, $0.

 

“Additional
Borrower”: as defined in Section 11.19.

 

“Additional
Borrower Collateral Risk Review”: as defined in Section 11.19.

 

“Adjusted Total
Dollar Working Capital Facility Uncommitted Tranche Portion”: as of any date, the sum of the Total Dollar Working Capital
Facility Uncommitted Tranche Portion plus the aggregate sum of the Dollar Working Capital Facility Uncommitted Tranche Extensions
of Credit of all Declining Lenders as of such date.

 

“Adjusted Dollar
Working Capital Facility Uncommitted Tranche Percentage”: with respect to any Dollar Working Capital Facility Uncommitted
Tranche Lender as of any date, the Dollar Working Capital Facility Uncommitted Tranche Percentage of such Lender adjusted for the
aggregate Dollar Working Capital Facility Uncommitted Tranche Extensions of Credit of all Declining Lenders as of such date, if
any, as determined below:

 

    	-5-	 

     

    

 

(a)            
prior to the first Conversion to Approving Lenders Date, with respect to any Dollar Working Capital Facility Uncommitted
Tranche Lender as of any date, such Dollar Working Capital Facility Uncommitted Tranche Lender’s Dollar Working Capital Facility
Uncommitted Tranche Percentage as of such date,

 

(b)            
thereafter:

 

(i)             
with respect to any Approving Lender as of any date, the percentage equivalent of the quotient (rounded to the ninth decimal
place) obtained by dividing such Approving Lender’s Dollar Working Capital Facility Uncommitted Tranche Portion by the Adjusted
Total Dollar Working Capital Facility Uncommitted Tranche Portion;

 

(ii)              
with respect to any Declining Lender as of any date,

 

(A)           
for the purpose of determining such Declining Lender’s percentage with respect to then outstanding Dollar Working
Capital Facility Uncommitted Tranche Loans as of such date, the percentage equivalent of the quotient (rounded to the ninth decimal
place) obtained by dividing the aggregate principal amount of such Declining Lender’s then outstanding Dollar Working Capital
Facility Uncommitted Tranche Loans by the aggregate principal amount of all then outstanding Dollar Working Capital Facility Uncommitted
Tranche Loans;

 

(B)            
for the purpose of determining such Declining Lender’s percentage with respect to any Refunded Dollar Uncommitted
Tranche Swing Line Loan, the percentage equivalent of the quotient (rounded to the ninth decimal place) obtained by dividing the
principal amount of such Declining Lender’s participation in such Refunded Dollar Uncommitted Tranche Swing Line Loan by
the aggregate principal amount of such Refunded Dollar Uncommitted Tranche Swing Line Loan;

 

(C)            
for the purpose of determining such Declining Lender’s percentage with respect to then outstanding Dollar Working
Capital Facility Uncommitted Tranche L/C Obligations as of such date, the percentage equivalent of the quotient (rounded to the
ninth decimal place) obtained by dividing the aggregate principal amount of such Declining Lender’s then outstanding Dollar
Working Capital Facility Uncommitted Tranche L/C Obligations by the aggregate principal amount of all then outstanding Dollar Working
Capital Facility Uncommitted Tranche L/C Obligations; provided that with respect to any Dollar Working Capital Facility
Uncommitted Tranche Letter of Credit for which such Declining Lender is the Dollar Working Capital Facility Uncommitted Tranche
Issuing Lender, the Dollar Working Capital Facility Uncommitted Tranche L/C Obligation amount for such Dollar Working Capital Facility
Uncommitted Tranche Letter of Credit shall be deemed to be the maximum available amount under such Letter of Credit as of such
date minus the aggregate sum of all Dollar Working Capital Facility Uncommitted Tranche L/C Obligation in such Letter of
Credit as of the close of business on the date immediately prior to the determination date; and

 

(D)            
for the purpose of determining such Declining Lender’s percentage for purposes of Section 10.7 as of such date,
the percentage equivalent of the quotient (rounded to the ninth decimal place) obtained by dividing such Declining Lender’s
Dollar Working Capital Facility Uncommitted Tranche Extensions of Credit by the Total Dollar Working Capital Facility Uncommitted
Tranche Extensions of Credit (or, if no Dollar Working Capital Facility Uncommitted Tranche Extensions of Credit are then outstanding,
such Declining Lender’s Dollar Working Capital Facility Uncommitted Tranche Percentage).

 

    	-6-	 

     

    

 

“Administrative
Agent”: as defined in the introductory paragraph of this Agreement. For the avoidance of doubt, the “Administrative
Agent” as used herein and in the other Loan Documents shall include, on the Restatement Effective Date, MUFG acting in its
capacity as successor administrative agent, successor Canadian agent and successor collateral agent under the Existing Credit Agreement
and the loan documents related thereto.

 

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

 

“Affiliate”:
as to any Person, any other Person (other than a Subsidiary) which, 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 (including, with
its correlative meanings, “controlled by” and “under common control with”) means the power, directly or
indirectly, either to (a) vote 25% or more of the securities having ordinary voting power for the election of directors (or,
if such Person is not a corporation, similar governing Persons) of such Person or (b) direct or cause the direction of the
management and policies of such Person, whether by contract or otherwise.

 

“Agent-Related
Person”: as defined in Section 10.3.

 

“Aggregate Borrowing
Base Amount”: on any date, an amount equal to the sum of the U.S. Borrowing Base and the Kildair Borrowing Base.

 

“Aggregate Eligible
In the Money Forward Contract Amount”: the aggregate of all Eligible In the Money Forward Contract Amounts with respect
to all Forward Contract Counterparties.

 

“Agreement”:
this Second Amended and Restated Credit Agreement.

 

“Allowed Reserve”:
with respect to any Fiscal Year, an amount equal to the transportation and hedged storage gains or losses arising under contracts
in place that the Borrowers and the other Loan Parties have elected to defer for use in calculations hereunder, which shall be
reflected in the Borrowers’ and the other Loan Parties’ Reconciliation Summary.

 

“Annual Budget”:
the annual budget of the MLP and its consolidated Subsidiaries which encompasses, among other things, environmental matters, in
form and substance satisfactory to the Administrative Agent, as updated from time to time pursuant to Section 7.1(d).

 

“Anti-Corruption
Laws”: all laws, rules and regulations of any jurisdiction applicable to the U.S. Borrower, the Canadian Borrower or
their respective Affiliates from time to time concerning or relating to bribery or corruption.

 

“Applicable
Commitment Fee Rate”: on any day,

 

    	-7-	 

     

    

 

(a)              
with respect to the Dollar Working Capital Facility Committed Tranche, the rate per annum set forth in the table
below as the Applicable Commitment Fee Rate opposite the applicable Working Capital Facility Utilization for the immediately preceding
fiscal quarter; provided, that solely for purposes of determining such Applicable Commitment Fee Rate, as used in this definition,
the amount of outstanding Swing Line Loans under the Dollar Working Capital Facility Committed Tranche shall be deemed to be zero
and such applicable Working Capital Facility Utilization shall be so calculated accordingly.

 

	Working Capital Facility 

Utilization	Applicable Commitment

 Fee Rate
	Category 1:  ≥ 75%	0.500%
	Category 2:  < 75% and  ≥ 40%	0.375%
	Category 3:  < 40%	0.375%

 

(b)              
with respect to the Multicurrency Working Capital Facility, the rate per annum set forth in the table below as the
Applicable Commitment Fee Rate opposite the applicable Working Capital Facility Utilization for the immediately preceding fiscal
quarter; provided, that solely for purposes of determining such Applicable Commitment Fee Rate, as used in this definition,
the amount of outstanding Swing Line Loans under the Multicurrency Working Capital Facility shall be deemed to be zero and such
applicable Working Capital Facility Utilization shall be so calculated accordingly.

 

	Working Capital Facility

 Utilization	Applicable Commitment

 Fee Rate
	Category 1:  ≥ 75%	0.500%
	Category 2:  < 75% and  ≥ 40%	0.375%
	Category 3:  < 40%	0.375%

 

(c)              
with respect to the Acquisition Facility, the rate per annum set forth in the table below as the Applicable Commitment
Fee Rate opposite the applicable Consolidated Total Leverage Ratio for the immediately preceding fiscal quarter; provided,
that solely for purposes of determining such Applicable Commitment Fee Rate, as used in this definition, the amount of outstanding
Swing Line Loans under the Acquisition Facility shall be deemed to be zero and such applicable Consolidated Total Leverage Ratio
shall be so calculated accordingly.

 

    	-8-	 

     

    

 

	Consolidated Total

Leverage Ratio	Applicable Commitment

Fee Rate
	Category 1:  ≥ 4.00:1.0	0.500%
	Category 2:  < 4.00:1.0 and  ≥ 3.50:1.0	0.450%
	Category 3:  < 3.50:1.0 and  ≥ 3.00:1.0	0.400%
	Category 4:  < 3.00:1.0 and  ≥ 2.50:1.0	0.375%
	Category 5:  < 2.50:1.0	0.350%

 

For purposes of the foregoing,
(i) the Applicable Commitment Fee Rate shall be determined as of the end of each fiscal quarter of the U.S. Borrower, and
(A) in the case of any determination of the Applicable Commitment Fee Rate based on Working Capital Facility Utilization,
shall be based on the Borrowing Base Reports that are delivered from time to time pursuant to Section 7.2 and the Applicable
Commitment Fee Rate so determined shall become effective as of the first day of the month succeeding the applicable Borrowing Base
Date of the last Borrowing Base Report delivered for a date included in the applicable fiscal quarter and (B) in the case
of any determination of the Applicable Commitment Fee Rate based on the Consolidated Total Leverage Ratio, based upon those monthly
consolidated financial statements of the MLP that are delivered after the end of each fiscal quarter pursuant to Section 7.1(c)
and (ii) each change in the Applicable Commitment Fee Rate resulting from a change in the Consolidated Total Leverage Ratio
shall be effective during the period commencing on the first day of the month (the “Commitment Fee Adjustment Date”)
succeeding the date of delivery to the Administrative Agent of the last set of consolidated financial statements for a period included
in the applicable fiscal quarter and ending on the date immediately preceding the next Commitment Fee Adjustment Date, provided
that (x) subject to clause (y) below, the Applicable Commitment Fee Rate determined pursuant to each of clauses (a)
and (b) shall be deemed to be Category 2 until the delivery pursuant to Section 7.2 of the first Borrowing Base
Report delivered after the end of the first fiscal quarter ending after the Restatement Effective Date (it being understood that
the first determination of the Applicable Commitment Fee Rate pursuant to clauses (a) and (b) in accordance with this clause (x)
shall be calculated with respect to Working Capital Facility Utilization for the portion of the preceding fiscal quarter ended
on and after the Restatement Effective Date) and the Applicable Commitment Fee Rate determined pursuant to clause (c) shall
be deemed to be Category 2 until the delivery pursuant to Section 7.1(c) of the first financial statements after
the end of the first fiscal quarter ending after the Restatement Effective Date and (y) the Applicable Commitment Fee Rate
determined pursuant to each of clauses (a), (b) and (c) shall be deemed to be Category 1 (A) at any time that an
Event of Default has occurred and is continuing or (B) at the option of the Administrative Agent or at the request of the
Required Committed Lenders if the U.S. Borrower fails to deliver the consolidated financial statements required to be delivered
by it pursuant to Section 7.1(c) or any Borrowing Base Report required to be delivered by it pursuant to Section 7.2,
during the period from the expiration of the time for delivery thereof specified in Section 7.1 or Section 7.2,
as applicable, until such consolidated financial statements or Borrowing Base Report, as applicable, are delivered.

 

    	-9-	 

     

    

 

“Applicable
Facility Termination Date”: the applicable Commitment Termination Date or the Dollar Working Capital Facility Uncommitted
Tranche Termination Date, as applicable.

 

“Applicable
L/C Fee Rate”: on any day,

 

(a)              
with respect to each Dollar Working Capital Facility Committed Tranche Letter of Credit, the rate per annum set forth
in the table below for such Dollar Working Capital Facility Committed Tranche Letter of Credit opposite the applicable Working
Capital Facility Utilization for the immediately preceding fiscal quarter.

 

	Working Capital Facility 

Utilization	Applicable L/C Fee Rate 

(Trade Letters of Credit 

 – Dollar Working Capital

 Facility Committed 

Tranche )	Applicable L/C Fee Rate 

(Performance Letters of 

Credit – Dollar Working 

Capital Facility

 Committed Tranche)
	Category 1:  ≥ 75%	2.00%	2.125%
	Category 2:  < 75% but ≥ 40%	1.75%	1.875%
	Category 3:  < 40%	1.50%	1.625%

 

(b)              
with respect to each Dollar Working Capital Facility Uncommitted Tranche Letter of Credit, the rate per annum set
forth in the table below for such Dollar Working Capital Facility Uncommitted Tranche Letter of Credit opposite the applicable
Working Capital Facility Utilization for the immediately preceding fiscal quarter.

 

	Working Capital Facility 

Utilization	Applicable L/C Fee Rate 

(Trade Letters of Credit 

 – Dollar Working Capital

 Facility Uncommitted 

Tranche )	Applicable L/C Fee Rate 

(Performance Letters of 

Credit – Dollar Working

 Capital Facility

 Uncommitted Tranche)
	Category 1:  ≥ 75%	1.75%	1.875%
	Category 2:  < 75% but ≥ 40%	1.50%	1.625%
	Category 3:  < 40%	1.25%	1.375%

 

(c)              
with respect to each Multicurrency Working Capital Facility Letter of Credit, the rate per annum set forth in the
table below for such Multicurrency Working Capital Facility Letter of Credit opposite the applicable Working Capital Facility Utilization
for the immediately preceding fiscal quarter.

 

    	-10-	 

     

    

 

	Working Capital Facility

 Utilization	Applicable L/C Fee Rate

 (Trade Letters of Credit 

 – Multicurrency 

Working Capital

 Facility)	Applicable L/C Fee Rate 

(Performance Letters of 

Credit – Multicurrency 

Working Capital 

Facility)
	Category 1:  ≥ 75%	2.00%	2.125%
	Category 2:  < 75% but ≥ 40%	1.75%	1.875%
	Category 3:  < 40%	1.50%	1.625%

 

(d)              
with respect to any Acquisition Facility Letter of Credit, the rate per annum set forth in the table below for such
Acquisition Facility Letter of Credit opposite the applicable Consolidated Total Leverage Ratio for the immediately preceding fiscal
quarter.

 

	Consolidated Total Leverage Ratio	Applicable L/C Fee Rate 

(Acquisition Facility Letters of 

Credit)
	Category 1:  ≥ 4.00:1.0	2.625%
	Category 2:  < 4.00:1.0 and  ≥ 3.50:1.0	2.375%
	Category 3:  < 3.50:1.0 and  ≥ 3.00:1.0	2.125%
	Category 4:  < 3.00:1.0 and  ≥ 2.50:1.0	1.875%
	Category 5:  < 2.50:1.0	1.625%

 

    	-11-	 

     

    

 

For purposes of the foregoing,
(i) the Applicable L/C Fee Rate shall be determined as of the end of each fiscal quarter of the U.S. Borrower, and (A) in
the case of any determination of the Applicable L/C Fee Rate based on Working Capital Facility Utilization shall be based on the
Borrowing Base Reports that are delivered from time to time pursuant to Section 7.2 and the Applicable L/C Fee Rate
so determined shall become effective as of the first day of the month succeeding the applicable Borrowing Base Date of the last
Borrowing Base Report delivered for a date included in the applicable fiscal quarter and (B) in the case of any determination
of the Applicable L/C Fee Rate based on the Consolidated Total Leverage Ratio, based upon those monthly consolidated financial
statements of the MLP that are delivered after the end of each fiscal quarter pursuant to Section 7.1(c) and (ii) each
change in the Applicable L/C Fee Rate resulting from a change in the Consolidated Total Leverage Ratio shall be effective during
the period commencing on the first day of the month (the “L/C Fee Adjustment Date”) succeeding the date of delivery
to the Administrative Agent of the last set of consolidated financial statements for a period included in the applicable fiscal
quarter and ending on the date immediately preceding the next L/C Fee Adjustment Date, provided that (x) subject to
clause (y) below, the Applicable L/C Fee Rate determined pursuant to clause (a) and (b) shall be determined to be Category 2
and the Applicable L/C Fee Rate determined pursuant to clause (c) shall be deemed to be Category 2, in each case until
the delivery pursuant to Section 7.2 of the first Borrowing Base Report delivered after the end of the first fiscal
quarter ending after the Restatement Effective Date (it being understood that the first determination of the Applicable L/C Fee
Rate pursuant to clauses (a), (b) and (c) in accordance with this clause (x) shall be calculated with respect to Working
Capital Facility Utilization for the portion of the preceding fiscal quarter ended on and after the Restatement Effective Date)
and the Applicable L/C Fee Rate determined pursuant to clause (d) shall be deemed to be Category 2 until the delivery
pursuant to Section 7.1(c) of the first financial statements after the end of the first fiscal quarter ending after
the Restatement Effective Date and (y) the Applicable L/C Fee Rate determined pursuant to each of clauses (a), (b), (c)
and (d) shall be deemed to be Category 1 (A) at any time that an Event of Default has occurred and is continuing or (B) at
the option of the Administrative Agent or at the request of the Required Lenders if the U.S. Borrower fails to deliver the consolidated
financial statements required to be delivered by it pursuant to Section 7.1(c) or any Borrowing Base Report required
to be delivered by it pursuant to Section 7.2, during the period from the expiration of the time for delivery thereof
specified in Section 7.1 or Section 7.2, as applicable, until such consolidated financial statements or
Borrowing Base Report, as applicable, are delivered.

 

“Applicable
Lending Office”: for each Lender and for each Type of Loan, and/or participation in any Reimbursement Obligation, the
lending office of such Lender designated on Schedule 1.0 (or, as the case may be, in the Assignment and Acceptance
pursuant to which such Lender became a party hereto) for such Type of Loan and/or participation in any Reimbursement Obligation
(or any other lending office from time to time notified to the Administrative Agent by such Lender) as the office at which its
Loans and/or participation in any Reimbursement Obligation of such Type are to be made and maintained.

 

“Applicable
Margin”: on any date:

 

(a)              
on any day with respect to each Dollar Working Capital Facility Committed Tranche Loan or Dollar Committed Tranche Swing
Line Loan, the rate per annum set forth in the table below for such Loans opposite the applicable Working Capital Facility
Utilization for the immediately preceding fiscal quarter.

 

    	-12-	 

     

    

 

	Working

 Capital

 Facility 

Utilization	Applicable 

Margin 

(Base Rate

 Loans)

 (Specified

Period)	Applicable 

Margin

 (Base Rate 

Loans) 

(Non-

Specified 

Period)	Applicable

 Margin

 (Eurocurrency

 Loans)

 (Specified 

Period)	Applicable 

Margin 

(Eurocurrency

 Loans) (Non-

Specified 

Period)
	Category 1:  ≥ 75%	1.75%	1.25%	2.75%	2.25%
	Category 2:  <75% but ≥ 40%	1.50%	1.00%	2.50%	2.00%
	Category 3:  < 40%	1.25%	0.75%	2.25%	1.75%

 

(b)              
on any day with respect to each Dollar Working Capital Facility Uncommitted Tranche Loan or Dollar Uncommitted Tranche Swing
Line Loan, the rate per annum set forth in the table below for such Loans opposite the applicable Working Capital Facility
Utilization for the immediately preceding fiscal quarter.

 

	Working 

Capital

 Facility

 Utilization	Applicable

 Margin

 (Base Rate

 Loans) 

(Specified

 Period)	Applicable

 Margin 

(Base Rate 

Loans)

 (Non-

Specified

 Period)	Applicable 

Margin

 (Eurocurrency

 Loans) 

(Specified 

Period)	Applicable

 Margin

 (Eurocurrency

 Loans) (Non-

Specified 

Period)
	Category 1:  ≥ 75%	1.50%	1.00%	2.50%	2.00%
	Category 2:  <75% but ≥ 40%	1.25%	0.75%	2.25%	1.75%
	Category 3:  < 40%	1.00%	0.50%	2.00%	1.50%

 

(c)              
on any day with respect to each Multicurrency Working Capital Facility Loan or Multicurrency Swing Line Loan, the rate per
annum set forth in the table below for such Loans opposite the applicable Working Capital Facility Utilization for the immediately
preceding fiscal quarter.

 

    	-13-	 

     

    

 

	Working

Capital

 Facility

 Utilization	Applicable

 Margin

 (Base Rate

 Loans) 

(Specified 

Period)	Applicable 

Margin 

(Base Rate 

Loans) 

(Non-

Specified 

Period)	Applicable 

Margin

 (Eurocurrency 

Loans)

 (Specified 

Period)	Applicable 

Margin 

(Eurocurrency 

Loans) (Non-

Specified 

Period)
	Category 1:  ≥ 75%	1.75%	1.25%	2.75%	2.25%
	Category 2:  <75% but ≥ 40%	1.50%	1.00%	2.50%	2.00%
	Category 3:  < 40%	1.25%	0.75%	2.25%	1.75%

 

(d)              
on any day with respect to any Acquisition Facility Loan, the rate per annum set forth in the table below opposite
the applicable Consolidated Total Leverage Ratio for the immediately preceding fiscal quarter.

 

	Consolidated Total Leverage Ratio	Applicable Margin 

(Base Rate Loans)	Applicable Margin 

(Eurocurrency Loans)
	Category 1:  ≥ 4.00:1.0	2.25%	3.25%
	Category 2:  < 4.00:1.0 and  ≥ 3.50:1.0	2.00%	3.00%
	Category 3:  < 3.50:1.0 and  ≥ 3.00:1.0	1.75%	2.75%
	Category 4:  < 3.00:1.0 and  ≥ 2.50:1.0	1.50%	2.50%
	Category 5:  < 2.50:1.0	1.25%	2.25%

 

    	-14-	 

     

    

 

For purposes of the foregoing,
(i) any rates identified above under a column including “(Specified Period)” shall be applicable during the Specified
Period and any rates identified above under a column including “(Non-Specified Period)” shall be applicable during
the Non-Specified Period, (ii) the Applicable Margin shall be determined as of the end of each fiscal quarter of the U.S. Borrower
(A) in the case of any determination of the Applicable Margin based on Working Capital Facility Utilization shall be based
on the Borrowing Base Reports that are delivered from time to time pursuant to Section 7.2 and the Applicable Margin
so determined shall become effective as of the first day of the month succeeding the applicable Borrowing Base Date of the last
Borrowing Base Report delivered for a date included in the applicable fiscal quarter and (B) in the case of any determination
of the Applicable Margin based on the Consolidated Total Leverage Ratio shall be based upon those monthly consolidated financial
statements of the MLP that are delivered after the end of each fiscal quarter pursuant to Section 7.1(c) and (iii) each
change in the Applicable Margin resulting from a change in the Consolidated Total Leverage Ratio shall be effective during the
period commencing on the first day of the month (the “Margin Adjustment Date”) succeeding the date of delivery
to the Administrative Agent of the last set of consolidated financial statements for a period included in the applicable fiscal
quarter and ending on the date immediately preceding the next Margin Adjustment Date, provided that (x) subject to
clause (y) below, the Applicable Margin determined pursuant to clause (a) and (b) shall be deemed to be Category 2
and the Applicable Margin determined pursuant to clause (c) shall be deemed to be Category 2, in each case until the
delivery pursuant to Section 7.2 of the first Borrowing Base Report delivered after the end of the first fiscal quarter
ending after the Restatement Effective Date (it being understood that the first determination of the Applicable Margin pursuant
to clauses (a), (b) and (c) in accordance with this clause (x) shall be calculated with respect to Working Capital Facility
Utilization for the portion of the preceding fiscal quarter ended on and after the Restatement Effective Date) and the Applicable
Margin determined pursuant to clause (d) shall be deemed to be Category 2 until the delivery pursuant to Section 7.1(c)
of the first financial statements after the end of the first fiscal quarter ending after the Restatement Effective Date and (y) the
Applicable Margin determined pursuant to each of clauses (a), (b), (c) and (d) shall be deemed to be Category 1 (A) at
any time that an Event of Default has occurred and is continuing or (B) at the option of the Administrative Agent or at the
request of the Required Lenders if the U.S. Borrower fails to deliver the consolidated financial statements required to be delivered
by it pursuant to Section 7.1(c) or any Borrowing Base Report required to be delivered by it pursuant to Section 7.2,
during the period from the expiration of the time for delivery thereof specified in Section 7.1 or Section 7.2,
as applicable, until such consolidated financial statements or Borrowing Base Report, as applicable, are delivered.

 

“Applicable
Sub-Limit”: each of the following:

 

(a)              
with respect to Dollar Swing Line Loans, the Dollar Swing Line Loan Sub-Limit;

 

(b)              
with respect to Multicurrency Swing Line Loans, the Multicurrency Swing Line Loan Sub-Limit;

 

(c)              
with respect to Dollar Working Capital Facility Letters of Credit, the Dollar Working Capital Facility Letter of Credit
Sub-Limit;

 

(d)              
with respect to Multicurrency Working Capital Facility Letters of Credit, the Multicurrency Working Capital Facility Letter
of Credit Sub-Limit;

 

(e)               
with respect to Dollar Working Capital Facility Performance Letters of Credit, the Dollar Performance Letter of Credit Sub-Limit;

 

(f)              
  with respect to Multicurrency Working Capital Facility Performance Letters of Credit, the Multicurrency Performance Letter
of Credit Sub-Limit;

 

(g)               
with respect to Dollar Working Capital Facility Long Tenor Letters of Credit, the Dollar Long Tenor Letter of Credit Sub-Limit;

 

(h)               
with respect to Multicurrency Working Capital Facility Long Tenor Letters of Credit, the Multicurrency Long Tenor Letter
of Credit Sub-Limit;

 

(i)                
with respect to Acquisition Facility Letters of Credit, the Acquisition Facility Letter of Credit Sub-Limit;

 

    	-15-	 

     

    

 

(j)            with
respect to Acquisition Facility Transportation Letters of Credit, the Acquisition Facility Transportation Letter of Credit Sub-Limit;

 

(k)           with
respect to Acquisition Facility Working Capital Extensions of Credit, the Acquisition Facility Working Capital Sub-Limit; and

 

(l)            with
respect to Acquisition Facility Maintenance Cap-Ex Extensions of Credit, the Acquisition Facility Maintenance Cap-Ex Sub-Limit.

 

“Approved Acquisition
Assets”: each Acquisition Asset for which the Administrative Agent has received a Business Valuation meeting the requirements
of the definition therefor; provided that no asset shall be an Approved Acquisition Asset unless it is subject to a Perfected
First Lien and is free and clear of all Liens other than Liens permitted hereunder.

 

“Approved Fund”:
(a) with respect to any Lender, any Bank CLO of such Lender, and (b) with respect to any Lender that is a fund that invests
in commercial loans and similar extensions of credit, any other fund that invests in commercial loans and similar extensions of
credit and is managed by the same investment advisor as such Lender or by an Affiliate or Subsidiary of such investment advisor.

 

“Approved Inventory
Location”: (a) any pipeline or storage facility owned by any Loan Party and (b) any other pipeline, third-party
carrier or third party storage facility that (i) has been sent notice of the Administrative Agent’s Perfected First
Lien on the inventory owned by any Loan Party located in or at such pipeline, third party carrier or third party storage facility
in accordance with the U.S. Security Agreement or the Canadian Security Documents, as applicable, and (ii) (A) is identified
on Schedule 1.1(A) (the “Approved Inventory Location Schedule”) or (B) has been approved by
the Administrative Agent, in its sole discretion (exercised in good faith), from time to time after the Restatement Effective Date,
unless in each case, the status of such pipeline, third party carrier or third party storage facility as an Approved Inventory
Location has been revoked upon ten (10) Business Days’ notice to the U.S. Borrower from the Administrative Agent, acting
in its reasonable discretion. The Approved Inventory Location Schedule shall be deemed amended to include such Approved Inventory
Locations without further action immediately upon the Administrative Agent’s approval.

 

“Approving Lender”:
as defined in Section 4.22(a).

 

“Approved Organizational
Changes”: as defined in Section 11.30.

 

“Arrangers”:
the Lead Arranger, BNP Paribas, Citizens Bank, N.A. Coöperatieve Rabobank U.A., New York Branch, Société
Générale and Wells Fargo Securities, LLC.

 

“Asset Sale”:
any conveyance, sale, lease, sub-lease, assignment, transfer or other disposition of property or series of related sales, leases
or other dispositions of property (excluding any such sale, lease or other disposition permitted by Section 8.6) which
yields Net Cash Proceeds to any Borrower or any other Loan Party (valued at the initial principal amount thereof in the case of
non-cash proceeds consisting of notes or other debt securities and valued at fair market value in the case of other non-cash proceeds)
in excess of $5,000,000.

 

    	-16-	 

     

    

 

“Assignee”:
as defined in Section 11.7(c).

 

“Assignment
and Acceptance”: as defined in Section 11.7(c).

 

“Assignment
of Claims Act”: the Federal Assignment of Claims Act of 1940 (31 U.S.C. §3727 et seq.) and any similar
state or local laws, together with all rules, regulations, interpretations and binding court decisions related thereto.

 

“Auto-Renewal
Letter of Credit”: as defined in Section 3.4(c).

 

“Availability
Certification”: as defined in Section 6.2(e)(ix).

 

“Available Acquisition
Facility Commitment”: as to any Acquisition Facility Lender at any time, an amount equal to the excess, if any, of (i) the
amount of such Acquisition Facility Lender’s Acquisition Facility Commitment at such time over (ii) such Acquisition
Facility Lender’s Acquisition Facility Extensions of Credit outstanding at such time; provided, that such amount shall
never be less than zero.

 

“Available Commitment”:
at any time as to any Lender, all or any of the Available Dollar Working Capital Facility Commitment, the Available Multicurrency
Working Capital Facility Commitment and/or the Available Acquisition Facility Commitment of such Lender at such time, as the context
requires.

 

“Available Dollar
Working Capital Facility Commitment”: as to any Dollar Working Capital Facility Committed Tranche Lender at any time,
an amount equal to the excess, if any, of (i) the amount of such Dollar Working Capital Facility Committed Tranche Lender’s
Dollar Working Capital Facility Commitment at such time over (ii) such Dollar Working Capital Facility Committed Tranche Lender’s
Dollar Working Capital Facility Committed Tranche Extensions of Credit outstanding at such time; provided, that such amount
shall never be less than zero; provided further that solely for purposes of determining fees pursuant to Section 2.8,
the amount of outstanding Dollar Working Capital Facility Committed Tranche Extensions of Credit consisting of Dollar Committed
Tranche Swing Line Loans shall be deemed to be zero.

 

“Available Dollar
Working Capital Facility Uncommitted Tranche Portion”: as to any Dollar Working Capital Facility Uncommitted Tranche
Lender at any time, an amount equal to the excess, if any, of (i) the amount of such Dollar Working Capital Facility Uncommitted
Tranche Lender’s Dollar Working Capital Facility Uncommitted Tranche Portion at such time over (ii) such Dollar Working
Capital Facility Uncommitted Tranche Lender’s Dollar Working Capital Facility Uncommitted Tranche Extensions of Credit outstanding
at such time; provided, that such amount shall never be less than zero.

 

“Available Multicurrency
Working Capital Facility Commitment”: as to any Multicurrency Working Capital Facility Lender at any time, an amount
equal to the excess, if any, of (i) the amount of such Multicurrency Working Capital Facility Lender’s Multicurrency
Working Capital Facility Commitment at such time over (ii) the Dollar Equivalent of such Multicurrency Working Capital Facility
Lender’s Multicurrency Working Capital Facility Extensions of Credit outstanding at such time; provided, that such
amount shall never be less than zero; provided further that solely for purposes of determining fees pursuant to Section 2.8,
the amount of outstanding Multicurrency Working Capital Facility Extensions of Credit consisting of Multicurrency Swing Line Loans
shall be deemed to be zero.

 

    	-17-	 

     

    

 

“Axel Johnson
Affiliate”: any Person that is directly or indirectly in control of, controlled by, or under common control with, Axel
Johnson Inc., excluding any Loan Party and any other Person with respect to whom any Loan Party has the power, directly or indirectly
to (x) vote any of the securities having ordinary voting power for the election of directors (or, if such Person is not a
corporation, similar governing Persons) of such Person or (y) direct or cause the direction of the management and policies
of such Person, whether by contract or otherwise. For purposes of this definition, “control” of a Person (including,
with its correlative meanings, “controlled by” and “under common control with”) means the power,
directly or indirectly, either to (a) vote more than 50% of the securities having ordinary voting power for the election of
directors (or, if such Person is not a corporation, similar governing Persons) of such Person or (b) direct or cause the direction
of the management and policies of such Person, whether by contract or otherwise.

 

“Axel Johnson
Subordinated Indebtedness”: with respect to any Loan Party, unsecured Indebtedness owed by such Loan Party to any Axel
Johnson Affiliate that is subject to a subordination agreement substantially in the form of Exhibit H-2, which such
form provides that there shall be no restriction as to the incurrence of such Indebtedness by any Loan Party, or the interest rate
or stated maturity applicable thereto, or, except as provided in Section 8.9, as to the repayment of such Indebtedness.

 

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

 

“Bail-In Legislation”:
(a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the
Council of the European Union, the implementing law, regulation, rule or requirement for such EEA Member Country from time to time
that is described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, Part I of the United Kingdom
Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the United Kingdom relating
to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than
through liquidation, administration or other insolvency proceedings).

 

“Bank CLO”:
as to any Lender, any entity (whether a corporation, partnership, trust or otherwise) that is engaged in making, purchasing, holding
or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business and is administered
or managed by such Lender or an Affiliate or Subsidiary of such Lender.

 

“Banking Services”:
each and any of the following bank services provided to any Loan Party or its Subsidiaries: (a) credit cards for commercial
customers (including, without limitation, “commercial credit cards” and purchasing cards), (b) stored value cards
and (c) merchant processing services.

 

“Bankruptcy
Code”: Title 11 of the United States Code (11 U.S.C. § 101 et seq.).

 

“Barrel”:
forty-two U.S. gallons.

 

    	-18-	 

     

    

 

“Base Rate”:
for any day, the rate per annum equal to the greatest of (a) the NYFRB Rate in effect on such day plus 1/2 of
1.00%, (b) the U.S. Prime Rate in effect on such day (rounded upward, if necessary, to the next 1/16 of 1.00%) and (c) the
one-month Eurocurrency Rate for United States Dollars in effect on such day plus 1.00% (or if the LIBOR Screen Rate is not
available for a one-month period Interest Period, the Interpolated Rate). For purposes hereof: “U.S. Prime Rate”
shall mean the rate of interest per annum that is equal to the corporate base rate of interest established by MUFG from
time to time and provided to the Borrowers or publicly announced prior to the delivery of the relevant Borrowing Notice; provided,
that such rate of interest is a reference rate and does not necessarily represent the lowest or best rate actually available. Any
change in the Base Rate due to a change in the U.S. Prime Rate, the Federal Funds Effective Rate or the Eurocurrency Rate
shall be effective as of the opening of business on the day such change in the U.S. Prime Rate, the Federal Funds Effective
Rate or the Eurocurrency Rate becomes effective, respectively.

 

“Base Rate Loans”:
Loans the rate of interest of which is based upon the Base Rate.

 

“Benchmark”:
initially, the Eurocurrency Base Rate for Eurocurrency Loans denominated in a given currency; provided, however,
that if a Benchmark Transition Event or an Early Opt-in Election, as applicable, has occurred with respect to such benchmark rate,
then “Benchmark” means, with respect to such currency, the applicable Benchmark Replacement to the extent that such
Benchmark Replacement has become effective pursuant to the provisions of pursuant to Section 4.23.

 

“Benchmark Replacement”:
with respect to any then-current Benchmark, the sum of: (a) the alternate benchmark rate (which, with respect to Loans denominated
in United States Dollars, may include Term SOFR) that has been selected by the Administrative Agent and the Borrowers as the replacement
for such Benchmark giving due consideration to (i) any selection or recommendation of a replacement rate or the mechanism for determining
such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining a rate
of interest as a replacement to the then-current Benchmark for syndicated credit facilities denominated in the applicable currency
and (b) the Benchmark Replacement Adjustment; provided that, if the Benchmark Replacement as so determined would be less than 0.50%,
the Benchmark Replacement will be deemed to be 0.50% for the purposes of this Agreement.

 

“Benchmark Replacement
Adjustment”: with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement for
each applicable Interest Period, the spread adjustment, or method for calculating or determining such spread adjustment, (which
may be a positive or negative value or zero) that has been selected by the Administrative Agent and the Borrowers, giving due consideration
to (i) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment,
for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body or
(ii) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining
such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement for syndicated
credit facilities at such time denominated in the applicable currency.

 

    	-19-	 

     

    

 

“Benchmark Replacement
Conforming Changes”: with respect to any Benchmark Replacement, any technical, administrative or operational changes
(including changes to the definition of “Eurocurrency Base Rate,” the definition of “Eurocurrency Rate”,
the definition of “Base Rate”, the definition of “Interest Period,” timing and frequency of determining
rates and making payments of interest and other administrative matters) that the Administrative Agent decides may be appropriate
to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Administrative
Agent in a manner substantially consistent with market practice (or, if the Administrative Agent decides that adoption of any portion
of such market practice is not administratively feasible or if the Administrative Agent determines that no market practice for
the administration of the Benchmark Replacement exists, in such other manner of administration as the Administrative Agent decides
is reasonably necessary in connection with the administration of this Agreement).

 

“Benchmark Replacement
Date”: the earlier to occur of the following events with respect to any then-current Benchmark:

 

(1)             in
the case of clause (1) or (2) of the definition of “Benchmark Transition Event,” the later of (a) the date of the
public statement or publication of information referenced therein and (b) the date on which the administrator of such Benchmark
(or the published component used in the calculation thereof) permanently or indefinitely ceases to provide such Benchmark (or
such component); or

 

(2)            
in the case of clause (3) of the definition of “Benchmark Transition Event,” the date of the public statement
or publication of information referenced therein.

 

“Benchmark Transition
Event”: the occurrence of one or more of the following events with respect to any then-current Benchmark:

 

(1)            
a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published
component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide such Benchmark
(or such component), permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor
administrator that will continue to provide such Benchmark (or such component);

 

(2)            
a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or
the published component used in the calculation thereof), the U.S. Federal Reserve System, an insolvency official with jurisdiction
over the administrator for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator
for such Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator
for such Benchmark (or such component), which states that the administrator of such Benchmark (or such component) has ceased or
will cease to provide such Benchmark (or such component) permanently or indefinitely, provided that, at the time of such statement
or publication, there is no successor administrator that will continue to provide such Benchmark (or such component); or

 

    	-20-	 

     

    

 

(3)            
a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or
the published component used in the calculation thereof) announcing that such Benchmark (or such component) is no longer representative.

 

“Benchmark Transition
Start Date”: (a) in the case of a Benchmark Transition Event, the earlier of (i) the applicable Benchmark Replacement
Date and (ii) if such Benchmark Transition Event is a public statement or publication of information of a prospective event, the
90th day prior to the expected date of such event as of such public statement or publication of information (or if the expected
date of such prospective event is fewer than 90 days after such statement or publication, the date of such statement or publication)
and (b) in the case of an Early Opt-in Election, the date specified by the Administrative Agent or the Required Lenders, as applicable,
by notice to the Borrowers, the Administrative Agent (in the case of such notice by the Required Lenders) and the Lenders.

 

“Benchmark Unavailability
Period”: with respect to any then-current Benchmark, if a Benchmark Transition Event and its related Benchmark Replacement
Date have occurred with respect to such Benchmark and solely to the extent that such Benchmark has not been replaced with a Benchmark
Replacement, the period (a) beginning at the time that such Benchmark Replacement Date has occurred if, at such time, no Benchmark
Replacement has replaced such Benchmark for all purposes hereunder in accordance with Section 4.23 and (b) ending at
the time that a Benchmark Replacement has replaced such Benchmark for all purposes hereunder pursuant to Section 4.23.

 

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

 

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

 

“Benefit Plan”:
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”.

 

“Benefited Lender”:
as defined in Section 11.8(a).

 

“Board”:
the Board of Governors of the Federal Reserve System of the United States (or any successor).

 

“Borrower Materials”:
as defined in Section 11.2.

 

“Borrowers”:
as defined in the introductory paragraph of this Agreement.

 

“Borrower Parties”:
collectively, the Borrowers and any Additional Borrowers.

 

    	-21-	 

     

    

 

“Borrowing Base
Availability”: at any time, an amount equal to the Aggregate Borrowing Base Amount at such time minus the Total
Working Capital Facility Extensions of Credit at such time minus the Total Acquisition Facility Working Capital Extensions
of Credit.

 

“Borrowing Base
Date”: the most recent date as of which the U.S. Borrower has based a Borrowing Base Report to be delivered by the U.S.
Borrower pursuant to Section 7.2(c).

 

“Borrowing Base
Report”: a report certified by a Responsible Person of the U.S. Borrower, substantially in the form of Exhibit G,
with appropriate insertions and schedules, showing the Aggregate Borrowing Base Amount, the U.S. Borrowing Base and the Kildair
Borrowing Base, in each case as of the date set forth therein and the basis on which it was calculated, together with the following
detailed supporting information:

 

(i)           
for each of the U.S. Borrowing Base and the Kildair Borrowing Base, for Eligible Cash and Cash Equivalents, a statement
as of the applicable Borrowing Base Date of the account balance, issued by each Cash Management Bank;

 

(ii)          
for each of the U.S. Borrowing Base and the Kildair Borrowing Base, for Eligible L/C Backed Accounts Receivable, Eligible
Tier 1 Accounts Receivable, Eligible Tier 2 Accounts Receivable, Eligible Unbilled Tier 1 Accounts Receivable, and
Eligible Unbilled Tier 2 Accounts Receivable,

 

(A)           
a schedule listing each Account Receivable which is supported by a letter of credit, together with the amount of such Account
Receivable, the Account Debtor of such Account Receivable, the issuing bank, the applicant and the expiration date of the related
letter of credit, the terms of the auto-renewal provision, if any, and the face amount of the related letter of credit (or, if
applicable, the maximum value of the related letter of credit after giving effect to any tolerance included therein, and the amount
of such tolerance);

 

(B)            a
schedule of each Eligible Account Receivable and Eligible Unbilled Account Receivable, listing the counterparty thereof, and each
of the offsets and deductions to the amount of such Eligible Account Receivable or Eligible Unbilled Account Receivable, as applicable,
including, if applicable, (1) the contra account balance thereof, (2) any offset or counterclaim resulting from trade
liabilities, (3) the net marked-to-market net-off calculation of any losses applied to the Account Debtor after deduction
for all margin monies received and/or paid and the details of any related letters of credit described in clause (A) above,
(4) any Out of the Money Forward Contract Amounts applied thereto pursuant to clause (F) of the definition of “U.S.
Borrowing Base” or “Kildair Borrowing Base”, as applicable) and (5) any adjustments described in the definitions
of U.S. Borrowing Base or Kildair Borrowing Base, as applicable, to the extent applicable; and

 

    	-22-	 

     

    

 

(C)            
with respect to each Eligible Account Receivable, other than Eligible Unbilled Accounts Receivable, to the extent applicable,
an aging report in form and substance satisfactory to the Administrative Agent;

 

(iii)          for
each of the U.S. Borrowing Base and the Kildair Borrowing Base, for Eligible Inventory, a schedule of (A) inventory locations,
(B) Market Value and inventory volumes by location and type of Eligible Commodity, (C) if requested by the Administrative
Agent, in the case of Eligible Hedged Petroleum Inventory and (in the case of the U.S. Borrowing Base) Eligible Hedged Natural
Gas Inventory, evidence of the hedge as demonstrated to the reasonable satisfaction of the Administrative Agent in the Position
Report delivered concurrently with the applicable Borrowing Base Report, (D) each of the offsets and deductions used in determining
the value of the Eligible Inventory, including any exchange payable or other offsets and any adjustments described in the definitions
of U.S. Borrowing Base or Kildair Borrowing Base, as applicable, to the extent applicable, (E) except to the extent covered
by clause (F) or clause (G) below, available supporting documentation for the inventory volumes as of such Borrowing
Base Date, (F) within thirty (30) days after each Borrowing Base Date with respect to a calendar month (provided
that the U.S. Borrower shall use best efforts to provide within thirty (30) days following receipt therefor a Borrowing
Base Report requested by the Administrative Agent), a volume difference reconciliation comparing the inventory volumes reflected
in the U.S. Borrower’s accounting records with the U.S. Borrower’s third party statements, together with a copy of
such statements (provided, that a copy of such third party statements shall not be required with respect to any storage
site not owned or operated by the U.S. Borrower or any of its Affiliates where less than 5,000 Barrels of Eligible Petroleum Inventory
is held) and (G) within thirty (30) days after each Borrowing Base Date that occurs on the last day of March, June,
September and December of each year, if requested by the Administrative Agent, inventory and field reports supplied by 25% of
the terminals owned by the Loan Parties (so that, in one calendar year, reports with respect to each terminal owned by any Loan
Party shall have been delivered);

 

(iv)        
for each of the U.S. Borrowing Base and the Kildair Borrowing Base, for Eligible Net Liquidity in Futures Accounts, copies
of summary account statements (or if requested by the Administrative Agent, the full account statements) issued by the Eligible
Broker where such assets are held as of the applicable Borrowing Base Date together with additional statements for each commodities
futures account that account for any (x) discounted face value of any U.S. Treasury Securities held in such account that
are zero coupon securities issued by the United States of America and (y) unearned interest on such U.S. Treasury Securities;

 

(v)         
for the U.S. Borrowing Base, for Eligible Exchange Receivables, (A) a schedule of each Eligible Exchange Receivable,
the counterparty thereof, the time outstanding and each of the offsets and deductions to the amount of such Eligible Exchange Receivable
used in determining the value of Eligible Exchange Receivables, including any contra account balance thereof and, if applicable,
any Out of the Money Forward Contract Amounts applied thereto pursuant to clause (F) of the definition of “U.S. Borrowing
Base” and any other adjustments described in the definitions of Borrowing Base, to the extent applicable, and (B) to
the extent applicable, information described in clause (ii)(A) above;

 

    	-23-	 

     

    

 

(vi)        
for each of the U.S. Borrowing Base and the Kildair Borrowing Base, for the Eligible Short Term Unrealized Forward Gains
and, solely with respect to the U.S. Borrowing Base, for the Eligible Medium Term Unrealized Forward Gains and Eligible Long Term
Unrealized Forward Gains, a summary schedule thereof listing:

 

(A)           
the Marked-to-Market Value and the date of the final cash or physical settlement of each Forward Contract;

 

(B)           
the aggregate amount of each of the offsets and deductions to the Marked-to-Market Value of such Forward Contracts included
in the calculation of the Counterparty Forward Contract Amount with respect to a Forward Contract Counterparty, including, to the
extent applicable, the aggregate contra account balance of such Forward Contract Counterparty (and the calculation of such contra
balance), all margin monies received and/or paid with respect to such Forward Contracts and the details of any related letters
of credit and any adjustments described in the definitions of U.S. Borrowing Base or Kildair Borrowing Base, as applicable, to
the extent applicable; and

 

(C)            
the Counterparty Forward Contract Amount for each Forward Contract Counterparty;

 

(vii)       
for each of the U.S. Borrowing Base and the Kildair Borrowing Base, for Eligible Letters of Credit Issued for Commodities
Not Yet Received, (A) a schedule listing each Letter of Credit giving rise to Eligible Letters of Credit Issued for Commodities
Not Yet Received, together with the name of the applicant, the expiration date of the related Letter of Credit and the face value
thereof (or, if applicable, the maximum value of such Letter of Credit after giving effect to any tolerance included therein, and
the amount of such tolerance), (B) a calculation supporting the value of physical volume delivered and the liability owed
by the applicable Loan Party to the beneficiary of the Letter of Credit in connection therewith versus the face amount of such
Letters of Credit, and (C) a schedule of each of the offsets and deductions used in determining the value of Eligible Letters
of Credit Issued for Commodities Not Yet Received, including the amounts and a calculation, by type (i.e., mark-to-market loss,
exchange payables and other type of liability owed), supporting the value of any other liabilities owed by the applicable Loan
Party to the beneficiary of the Letter of Credit versus the face amount of such Letters of Credit and any adjustments described
in the definitions of U.S. Borrowing Base or Kildair Borrowing Base, as applicable, to the extent applicable;

 

    	-24-	 

     

    

 

(viii)      
for each of the U.S. Borrowing Base and the Kildair Borrowing Base, for Paid but Unexpired Letters of Credit, (A) a
schedule listing each Letter of Credit giving rise to Paid but Unexpired Letters of Credit, together with the name of the applicant,
the expiration date of the related Letter of Credit and the face value thereof (or, if applicable, the maximum value of such Letter
of Credit after giving effect to any tolerance included therein, and the amount of such tolerance), (B) a statement describing
the existing liabilities that may be satisfied with such Letter of Credit and the amount therefor, (C) a schedule of any payments
made by the applicable Loan Party to satisfy the obligations for which such Letter of Credit was issued, (D) a schedule of
the underlying “operational tolerance” with respect to any such Trade Letter of Credit (if applicable) and (E) a
schedule of each of the offsets and deductions used in determining the value of Paid but Unexpired Letters of Credit, including
the amounts and a calculation, by type (i.e. mark-to-market loss, exchange payables and other type of liability owed), supporting
the value of any other liabilities owed by the applicable Loan Party to the beneficiary of the Letter of Credit versus the face
amount of such Letters of Credit and any adjustments described in the definitions of U.S. Borrowing Base or Kildair Borrowing Base,
as applicable, to the extent applicable;

 

(ix)         
for the U.S. Borrowing Base, for Eligible RINs, a schedule summarizing the value of the RINs inventory available for sale,
including the total RINs volume separated by fuel category. For each fuel category the RINs volumes and values for each RINs year
for which there is inventory also will be shown;

 

(x)           for
the U.S. Borrowing Base, for the First Purchaser Lien Amount, a schedule setting forth the holder of each First Purchaser Lien,
the amount of the obligations outstanding giving rise to the First Purchaser Lien Amount to such holder, each of the offsets and
deductions to the amount of such obligations used in determining the First Purchaser Lien Amount, including the portion thereof
reduced by any Letter of Credit, and any adjustments described in the definitions of Borrowing Base, to the extent applicable;

 

(xi)         
for each of the U.S. Borrowing Base and the Kildair Borrowing Base, for Product Taxes, a schedule listing the amounts of
each tax liability by taxing authority, the description thereof and the period(s) for which such taxes were assessed;

 

(xii)        
for each of the U.S. Borrowing Base and the Kildair Borrowing Base, for Swap Amounts due to Qualified Counterparties, a
schedule listing the aggregate net unrealized gains or losses with respect to each Commodity OTC Agreement with a Qualified Counterparty
and each Financial Hedging Agreement with a Qualified Counterparty (whether or not the Swap Amounts due to Qualified Counterparties
is equal to or in excess of $20,000,000 (in the case of the U.S. Borrowing Base) or $5,000,000 (in the case of the Kildair Borrowing
Base));

 

(xiii)       
a summary report showing the total amount outstanding under each type of extension of credit made hereunder; and

 

    	-25-	 

     

    

 

 

(xiv)           
a summary of the Working Capital Facility Utilization for the period from the immediately preceding Borrowing Base Date
(or, in the case of the first Borrowing Base Report, the Restatement Effective Date) to (but not including) the Borrowing Base
Date for such Borrowing Base Report.

 

“Borrowing Date”:
any Business Day specified (i) in a Borrowing Notice as a date on which a Loan requested by a Borrower is to be made or (ii) in
a Letter of Credit Request as a date on which a Letter of Credit requested by a Borrower is to be issued, amended or renewed.

 

“Borrowing Notice”:
as defined in Section 2.5(a).

 

“Brokerage Account
Deducts”: as defined in the definition of “Eligible Net Liquidity in Futures Accounts” in this Section 1.1.

 

“Business”:
as defined in Section 5.22(b).

 

“Business Day”:
(i) for all purposes other than as covered by clauses (ii) and (iii) of this definition, 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, (ii) with respect
to all notices and determinations in connection with, and payments of principal and interest on, Eurocurrency Loans, any day which
is a Business Day as described in clause (i) of this definition and which is also a day on which dealings in United States
Dollar deposits are carried out in the London interbank market and (iii) with respect to all notices and determinations in
connection with, and payments of principal and interest on, Loans made to the Canadian Borrower or made in Canadian Dollars, any
day which is a Business Day as described in clause (i) of this definition and which is also a day on which banks are open
for dealings in Canadian Dollars in Toronto, Ontario and Montreal, Quebec.

 

“Business Valuation”:
with respect to any Approved Acquisition Asset, a business valuation commissioned by and addressed to the Administrative Agent
and in form and substance reasonably acceptable to the Administrative Agent (such acceptance not to be unreasonably withheld, conditioned
or delayed) and prepared by a Valuation Agent.

 

“CAML”:
the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada) and other applicable anti-money laundering, anti-terrorist
financing, government sanction and “know your client” laws.

 

“Calculation
Date”: the last Business Day of each calendar month (or any other day selected by the Administrative Agent); provided
that (a) the second Business Day preceding (or such other Business Day as the Administrative Agent shall deem applicable with
respect to Canadian Dollars in accordance with rate-setting convention for Canadian Dollars) (i) each Borrowing Date with
respect to any Loan denominated in Canadian Dollars or (ii) any date on which a Loan denominated in Canadian Dollars is continued
shall also be a “Calculation Date”, (b) each Borrowing Date with respect to any other Loan made hereunder shall
also be a “Calculation Date” and (c) the date of issuance, amendment, renewal or extension of a Letter of Credit
shall also be a Calculation Date.

 

    	-26-	 

     

    

 

“Canadian Benefit
Plans”: any plan, fund, program, or policy, whether oral or written, formal or informal, funded or unfunded, insured
or uninsured, providing employee benefits, including medical, hospital care, dental, sickness, accident, disability, life insurance,
pension, retirement or savings benefits, under which any Loan Party or any Subsidiary of any Loan Party that carries on business
in Canada, has any liability with respect to any employee or former employee, but excluding any Canadian Pension Plans.

 

“Canadian Borrower”:
as defined in the introductory paragraph of this Agreement.

 

“Canadian Dollar
Equivalent”: with respect to (i) an amount denominated in any currency other than Canadian Dollars, the equivalent
in Canadian Dollars of such amount determined at the Exchange Rate on the most recent Calculation Date and (ii) an amount
denominated in Canadian Dollars, such amount. 

 

“Canadian Dollars”
and “C$”: dollars in lawful currency of Canada.

 

“Canadian Loan
Parties”: collectively, (a) the Canadian Borrower, (b) the Loan Parties which are organized under the laws
of Canada or any province or territory thereof and (c) each other Person organized under the laws of Canada or any province or
territory thereof that at any time becomes a Loan Party under the Loan Documents; each sometimes being referred to herein individually
as a “Canadian Loan Party”.

 

“Canadian Omnibus
Amendment Agreement: the Omnibus Amendment Agreement, dated as of the Restatement Effective Date, by and among each Loan Party
party thereto and the Administrative Agent, which shall amend the Canadian Security Agreement and the Canadian Pledge Agreement.

 

“Canadian Pension
Plans”: each pension plan required to be registered under Canadian federal or provincial law that is maintained or contributed
to by a Loan Party or any Subsidiary of any Loan Party for its employees or former employees, but does not include the Canada Pension
Plan or the Quebec Pension Plan as administered by the Government of Canada or the Province of Quebec, respectively.

 

“Canadian Pledge
Agreement”: the Canadian Pledge Agreement, dated as of December 9, 2014, by (a) each Loan Party pledging Capital
Stock of any Person organized under the laws of Canada or any province or territory thereof and (b) with respect to the pledge
of Capital Stock of any Person not organized under the laws of Canada or any province or territory thereof, any Loan Party organized
under the laws of Canada or any province or territory thereof or having its chief executive office or domicile in Canada, in favor
of the Administrative Agent, as amended, restated, supplemented or otherwise modified from time to time.

 

“Canadian Security
Agreement”: the Canadian Security Agreement, dated as of December 9, 2014, by the Loan Parties organized under the laws
of Canada or any province or territory thereof, having its chief executive office (or domicile) in Canada or any province or territory
thereof or having tangible assets in Canada, in favor of the Administrative Agent, as amended, restated, supplemented or otherwise
modified from time to time.

 

“Canadian Security
Documents”: collectively, the Canadian Security Agreement, the Canadian Pledge Agreement, the Quebec Security Documents
and each Mortgage and Security Agreement in respect of any real property located in Canada and, in each case, any Successor Agent
Document in respect of any of the foregoing.

 

    	-27-	 

     

    

 

“Canadian Subsidiary”:
any Subsidiary of the U.S. Borrower organized or incorporated under the laws of Canada or any province or territory thereof.

 

“Capital Expenditures”:
for any period with respect to any Person, all expenditures made by such Person during such period that, in accordance with GAAP,
should be classified as a capital expenditure.

 

“Capital Stock”:
any and all shares, interests, participations or other equivalents (however designated) of capital stock of a corporation or unlimited
liability company, all membership interests in a limited liability company, all partnership interests in a limited partnership
or partnership, all membership rights in a cooperative or any and all similar ownership interests in a Person (other than a corporation,
unlimited liability company, limited liability company, limited partnership or partnership) and any and all warrants, rights or
options to purchase any of the foregoing.

 

“Cash and Carry
Transaction”: in respect of a particular commodity, all transactions that occur during a Contango Market consisting of:

 

(a)              
the entering into of future or swap contracts for the purchase of such commodity offset by the concurrent entering into
of future or swap contracts for the sale of the same quantity of such commodity for a later delivery date and a maximum period
not exceeding twelve (12) months; and/or

 

(b)              
the physical purchase by the U.S. Borrower or any other Loan Party of such commodity which shall be stored for a period
not exceeding twelve (12) months from the date of delivery of such commodity to the U.S. Borrower or such Loan Party, and
the sale of which shall be Hedged by hedges that have a maximum tenor not exceeding twelve (12) months; and/or

 

(c)               
any combination of the foregoing.

 

“Cash (100%)
Collateralize”; “Cash (100%) Collateralized”: with respect to any Letter of Credit, to pledge and
deposit as collateral for the Obligations Cash Collateral in the currency in which such Letter of Credit is denominated and in
an amount equal to 100% of the undrawn face amount of such Letter of Credit plus unpaid fees associated with such Letter
of Credit (including any letter of credit commissions) then due and payable or to be owed with respect to such Letter of Credit
for the period from the time such Cash Collateral is deposited as collateral until the expiration date of such Letter of Credit,
pursuant to documentation substantially in the form of Exhibit K or such other substantially similar form reasonably
satisfactory to the Administrative Agent.

 

“Cash Collateral”:
with respect to any Letter of Credit, cash or deposit account balances denominated in United States Dollars or Canadian Dollars
that have been pledged and deposited with or delivered to the Administrative Agent for the ratable benefit of the Secured Parties
as collateral for the Obligations, including the repayment of such Letter of Credit.

 

    	-28-	 

     

    

 

“Cash Collateralize”,
 “Cash Collateralized”, “Cash Collateralization”: with respect to any Letter of Credit, to
pledge and deposit as collateral for the Obligations Cash Collateral in the currency in which such Letter of Credit is denominated
and in an amount equal to 105% of the undrawn face amount of such Letter of Credit plus unpaid fees associated with such
Letter of Credit (including any letter of credit commissions) then due and payable or to be owed with respect to such Letter of
Credit for the period from the time such Cash Collateral is deposited as collateral until the expiration date of such Letter of
Credit, pursuant to documentation substantially in the form of Exhibit K or such other substantially similar form reasonably
satisfactory to the Administrative Agent.

 

“Cash Equivalents”:
(a) securities with maturities of twelve (12) months or less from the date of acquisition or acceptance which are issued
or fully guaranteed or insured by the United States, Canada or any agency or instrumentality thereof, (b) bankers’ acceptances,
certificates of deposit and eurodollar time deposits with maturities of nine (9) months or less from the date of acquisition
and overnight bank deposits, in each case, of any Lender or of any international or national commercial bank with commercial paper
rated, on the day of such purchase, at least A-1 or the equivalent thereof by S&P or P-1 or the equivalent thereof by Moody’s,
(c) commercial paper, variable rate or auction rate securities, or any other short term, liquid investment having a rating,
on the date of purchase, of at least A-1 or the equivalent thereof by S&P or at least P-1 or the equivalent thereof by Moody’s
and that matures or resets not more than nine (9) months after the date of acquisition, (d) obligations of any U.S. state,
Canadian province or territory or a division, public instrumentality or taxing authority thereof, having on the date of purchase
a rating of at least AA or the equivalent thereof by S&P or at least Aa2 or the equivalent thereof by Moody’s and (e) investments
in money market funds, mutual funds or other pooled investment vehicles, in each case acceptable to the Administrative Agent in
its sole discretion, the assets of which consist solely of the foregoing.

 

“Cash Management
Account”: a Deposit Account or Securities Account maintained with any Cash Management Bank.

 

“Cash Management
Bank”: JPMorgan Chase Bank, N.A. and each of the banks and other financial institutions listed on Schedule 1.1(B)
and any other bank or financial institution (which is reasonably acceptable to the Administrative Agent) from time to time designated
by the U.S. Borrower as a bank or financial institution (i) at which any Borrower or any other Loan Party or any of their
Subsidiaries maintains any Controlled Account or (ii) with which any Borrower or any other Loan Party or any of their Subsidiaries
engages in Banking Services.

 

“Cash Management
Bank Agreement”: any (i) account agreement, account control agreement or other agreement governing the relationship
between a Cash Management Bank and a Loan Party with respect to a Cash Management Account and (ii) any agreement governing
Banking Services.

 

“CDOR Screen
Rate”: with respect to any Interest Period, (i) the annual rate of interest determined with reference to the arithmetic
average of the discount rate quotations of all institutions listed in respect of the relevant Interest Period for Canadian Dollar-denominated
bankers’ acceptances displayed and identified as such on the CDOR page of the Reuters screen (or on any successor or substitute
page on such screen or service that displays such rate, or on the appropriate page of such other information service that publishes
such rate as shall be selected by the Administrative Agent from time to time in its reasonable discretion) as of the Specified
Time on the Quotation Day for such Interest Period (as adjusted by the Administrative Agent after the Specified Time to reflect
any error in the posted rate of interest or in the posted average annual rate of interest); plus (ii) 0.10% per
annum.

 

    	-29-	 

     

    

 

“Change of Control”:
the occurrence of any of the following events: (a) the Permitted Investors shall cease to own and control, of record and beneficially,
directly or indirectly, more than 50% of the total voting power of all classes of Capital Stock of (i) prior to the effectiveness
of the Approved Organizational Changes, the General Partner or (ii) after the effectiveness of the Approved Organizational Changes,
the MLP, in each case, entitled to vote generally in the election of directors free and clear of all Liens, other than Liens of
the type permitted pursuant to Section 8.3 (and with respect to the General Partner, as if Section 8.3
were applicable), (b) prior to the effectiveness of the Approved Organizational Changes, the General Partner shall cease to
own and control, of record and beneficially, 100% of the general partnership interests of the MLP free and clear of all Liens,
other than Liens of the type permitted pursuant to Section 8.3 (as if Section 8.3 were applicable) or (c) the
MLP shall cease to own and control, of record and beneficially, directly or indirectly, 100% of each class of outstanding Capital
Stock of each Borrower and each other Loan Party (other than the MLP) free and clear of all Liens, other than Liens permitted pursuant
to Section 8.3.

 

“Chapter 11
Debtor”: as defined in the definition of “Eligible Account Receivable” in this Section 1.1.

 

“Coal Products”:
coal and any other product or by-product of the foregoing and all rights to transmit, transport or store the foregoing.

 

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

 

“Collateral”:
all property and interests in property of the Loan Parties now owned or hereafter acquired, upon which a Lien is purported to be
created by any Security Document; provided, that notwithstanding anything to the contrary herein or in any other Loan Document,
no shares, interests, participations or other equivalents of capital stock of an Unlimited Liability Company (as defined in the
Canadian Pledge Agreement), together with all stock certificates, options or rights of any nature whatsoever which may be issued
or granted by an Unlimited Liability Company, shall constitute “Collateral” under any Security Document other than
the Canadian Pledge Agreement and the deed of hypothec securing the Obligations forming part of the Quebec Security Documents,
as provided for therein.

 

“Commitment”:
at any date, as to any Lender, the Dollar Working Capital Facility Commitments, the Multicurrency Working Capital Facility Commitments
and/or the Acquisition Facility Commitments of such Lender, as the context requires.

 

“Commitment
Percentage”: at any time, as to any Lender, the Acquisition Facility Commitment Percentage, the Dollar Working Capital
Facility Commitment Percentage or the Multicurrency Working Capital Facility Commitment Percentage of such Lender at such time,
as the context requires.

 

    	-30-	 

     

    

 

“Commitment
Period”: the Acquisition Facility Commitment Period, the Dollar Working Capital Facility Commitment Period or the Multicurrency
Working Capital Facility Commitment Period, as the context requires.

 

“Commitment
Termination Date”: the Acquisition Facility Commitment Termination Date, the Dollar Working Capital Facility Commitment
Termination Date or the Multicurrency Working Capital Facility Commitment Termination Date, as the context requires.

 

“Committed Facilities”:
collectively, the Dollar Working Capital Facility Committed Tranche, the Multicurrency Working Capital Facility and the Acquisition
Facility.

 

“Committed Facilities
Credit Exposure”: as to any Committed Lender at any time, the Dollar Working Capital Facility Committed Tranche Credit
Exposure of such Committed Lender plus the Multicurrency Working Capital Facility Credit Exposure of such Committed Lender
plus the Acquisition Facility Credit Exposure of such Committed Lender.

 

“Committed Facilities
Credit Exposure Percentage”: as to any Committed Lender at any time, the fraction (expressed as a percentage), the numerator
of which is the Committed Facilities Credit Exposure of such Committed Lender at such time and the denominator of which is the
aggregate Committed Facilities Credit Exposures of all of the Committed Lenders at such time.

 

“Committed Lenders”:
the Dollar Working Capital Facility Committed Tranche Lenders, the Multicurrency Working Capital Facility Lenders and the Acquisition
Facility Lenders.

 

“Commodity Account”:
any “Commodity Account” as defined in Section 9-102 of the UCC, any “futures account” as defined under
the PPSA and any “securities account” as defined in the Quebec STA in which is held “commodity futures contracts”,
 “security futures contracts”, “financial instrument futures contracts” and other similar “futures
contracts”, as such terms are defined in the Quebec STA.

 

“Commodity Contract”:
(a) a Physical Commodity Contract, (b) any Commodity OTC Agreement or (c) a contract for the storage or transportation
of any physical Eligible Commodity.

 

“Commodity Exchange
Act”: the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any successor statute.

 

“Commodity OTC
Agreement”: (i) any forward commodity contract (excluding any Forward Contract which is a Physical Commodity Contract),
swap, option, collar, cap or floor transaction, in each case based on Eligible Commodities and (ii) any other similar transaction
(including any option to enter into any of the foregoing) or any combination of the foregoing.

 

“Commonly Controlled
Entity”: an entity, whether or not incorporated, which is under common control with the U.S. Borrower within the meaning
of Section 4001(a)(14) of ERISA or is part of a group which includes the U.S. Borrower and which is treated as a single employer
under Section 414(b), (c), (m) or (o) of the Code.

 

    	-31-	 

     

    

 

“Compliance
Certificate”: as defined in Section 7.2(b).

 

“Conduit Lender”:
any special purpose entity organized and administered by any Lender (or an affiliate of such Lender) for the purpose of making
Loans required to be made by such Lender or of funding such Lender’s participation in any unpaid Reimbursement Obligation
and designated as its Conduit Lender 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 or a participation in any
unpaid Reimbursement Obligation under this Agreement if, for any reason, its Conduit Lender fails to fund any such Loan or participation
in any unpaid Reimbursement Obligation, 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; provided,
further, that no Conduit Lender shall (a) be entitled to receive any greater amount pursuant to Section 11.6
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 commitment hereunder.

 

“Confidential
Information”: as defined in Section 11.16.

 

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

 

“Consolidated
Current Assets”: as of any date of determination, all assets of the Loan Parties that, in accordance with GAAP adjusted
on an Economic Basis, would be classified as current assets on a consolidated balance sheet of the Loan Parties; provided,
that amounts otherwise classified as current assets which are due from any Affiliate (including shareholders (other than public
limited partners of the MLP)) or Subsidiary of any Loan Party shall not be classified as current assets.

 

“Consolidated
Current Liabilities”: as of any date of determination, all liabilities of the Loan Parties that, in accordance with GAAP
adjusted on an Economic Basis, would be classified as current liabilities on a consolidated balance sheet of the Loan Parties;
provided that “Consolidated Current Liabilities” shall (i) include (A) except to the extent excluded
in clause (ii) below, all Loans outstanding hereunder from time to time, and (B) the current portion of all Indebtedness
with a maturity (as of such date of determination) of longer than one (1) year, and (ii) exclude any (A) Axel Johnson
Subordinated Indebtedness, (B) Intercompany Subordinated Indebtedness, (C) unsecured Indebtedness permitted under Section 8.2(h)
and (D) Acquisition Facility Loans.

 

“Consolidated
EBITDA”: for any period, Consolidated Net Income of the Loan Parties for such period, plus, without duplication
and to the extent used in determining such Consolidated Net Income, the sum of:

 

(1)              
provisions for income taxes, interest expense, and depreciation and amortization expense;

 

(2)              
amounts deducted in respect of other non-cash expenses;

 

    	-32-	 

     

    

 

(3)              
the amount of any aggregate net loss (or minus the amount of any gain) arising from the Disposition of capital assets
by such Person and its Subsidiaries; and

 

(4)              
extraordinary, unusual or non-recurring losses and charges;

 

provided that (i) each of the
foregoing items (1)-(4) shall be calculated in accordance with GAAP adjusted on an Economic Basis, (ii) for the purposes
of this definition, with respect to a business or assets acquired by the Loan Parties pursuant to an Acquisition permitted under
this Agreement, Consolidated EBITDA shall be calculated on a pro forma basis, using historical numbers, in accordance with GAAP
and such calculation shall be determined in good faith by a financial officer of the U.S. Borrower (and the U.S. Borrower will
provide to the Administrative Agent such supporting information as the Administrative Agent may reasonably request), without giving
effect to any anticipated or proposed change in operations, revenues, expenses or other items included in the computation of Consolidated
EBITDA, and in a manner which is reasonably satisfactory to the Administrative Agent in all respects, adjusted on an Economic Basis
plus or minus any Allowed Reserve, as if the acquisition had been consummated on the first day of such period and
(iii) for the purposes of this definition, with respect to a business or assets disposed of by the Loan Parties pursuant to
a disposition permitted under this Agreement, Consolidated EBITDA shall be calculated on a pro forma basis, using historical numbers,
in accordance with GAAP and such calculation shall be determined in good faith by a financial officer of the U.S. Borrower (and
the U.S. Borrower will provide to the Administrative Agent such supporting information as the Administrative Agent may reasonably
request), without giving effect to any anticipated or proposed change in operations, revenues, expenses or other items included
in the computation of Consolidated EBITDA, and in a manner which is reasonably satisfactory to the Administrative Agent in all
respects, as if such disposition had been consummated on the first day of such period. Notwithstanding the foregoing, but subject
to clauses (ii) and (iii) of the proviso above, Consolidated EBITDA shall be deemed to be (x) $13,973,408 with respect
to the fiscal quarter ending September 30, 2019, (y) $31,495,006 with respect to the fiscal quarter ending December 31,
2019 and (z) $47,932,245 with respect to the fiscal quarter ending March 31, 2020.

 

“Consolidated
Fixed Charge Coverage Ratio”: for any period, the ratio of Consolidated EBITDA to Consolidated Fixed Charges for such
period.

 

“Consolidated
Fixed Charges”: for any period with respect to the Loan Parties, the sum (without duplication) of (i) the amounts
deducted for the cash portion of Consolidated Interest Expense in determining Consolidated Net Income for such period, (ii) letter
of credit fees to the extent paid in cash during such period, and (iii) principal paid or payable during such period in respect
of Indebtedness (excluding (A) principal on any Loan, (B) principal on the Axel Johnson Subordinated Indebtedness, (C) principal
on any Intercompany Subordinated Indebtedness, (D) principal on unsecured Indebtedness permitted under Section 8.2(h)
incurred for working capital purposes in an aggregate outstanding amount (as of such date of determination) of $50,000,000 or less
with a maturity (as of such date of determination) of less than one (1) year that is not a note (other than a promissory note evidencing
commercial Indebtedness), debenture, bond or other like obligation) of the Loan Parties and (E) principal on any Indebtedness
outstanding under a Contango Facility). For purposes of the above calculation, (1) with respect to a business or assets acquired
by the Loan Parties pursuant to an Acquisition permitted under this Agreement, Consolidated Interest Expense shall be calculated
on a pro forma basis, using historical numbers, in accordance with GAAP and such calculation shall be determined in good faith
by a financial officer of the U.S. Borrower (and the U.S. Borrower will provide to the Administrative Agent such supporting information
as Administrative Agent may reasonably request), without giving effect to any anticipated or proposed change in operations, revenues,
expenses or other items included in the computation of Consolidated Interest Expense, and in a manner which is reasonably satisfactory
to the Administrative Agent in all respects, as if the Indebtedness associated with the Acquisition had been incurred on the first
day of such period (it being understood that, with respect to any Indebtedness incurred in connection with such Acquisition, if
such Indebtedness has a floating or formula rate, it shall have an implied rate of interest for the applicable period for purposes
of this definition determined by utilizing the rate that is or would be in effect with respect to such Indebtedness as at the relevant
date of determination) and (2) with respect to a business or assets disposed of by the Loan Parties pursuant to a disposition
permitted under this Agreement, Consolidated Interest Expense shall be calculated on a pro forma basis, using historical numbers,
in accordance with GAAP and such calculation shall be determined in good faith by a financial officer of the U.S. Borrower (and
the U.S. Borrower will provide to the Administrative Agent such supporting information as the Administrative Agent may reasonably
request), without giving effect to any anticipated or proposed change in operations, revenues, expenses or other items included
in the computation of Consolidated Interest Expense, and in a manner which is reasonably satisfactory to the Administrative Agent
in all respects, as if such disposition had been consummated on the first day of such period.

 

    	-33-	 

     

    

 

Notwithstanding the foregoing,
but subject to clauses (1) and (2) above, Consolidated Fixed Charges shall be deemed to be (i) $10,010,213 with respect
to the fiscal quarter ending September 30, 2019, (ii) $11,149,675 with respect to the fiscal quarter ending December 31, 2019
and (iii) $10,533,833 with respect to the fiscal quarter ending March 31, 2020.

 

“Consolidated
Interest Expense”: for any period with respect to the Loan Parties, the amount which, in conformity with GAAP adjusted
on an Economic Basis plus or minus any Allowed Reserve, as applicable, would be set forth opposite the caption “interest
expense” or any like caption (including imputed interest included in payments under Financing Leases) on a consolidated income
statement of the Loan Parties for such period excluding the amortization of any original issue discount; provided that “Consolidated
Interest Expense” shall not include interest expense with respect to the Maine Dock Liability Obligations.

 

“Consolidated
Net Income”: for any period, the consolidated net income (or deficit) of the Loan Parties for such period (taken as a
cumulative whole) determined in accordance with GAAP adjusted on an Economic Basis plus or minus any Allowed Reserve,
as applicable; provided that there shall be excluded (a) the income (or deficit) of any Loan Party accrued prior to
the date it becomes a Subsidiary or is merged into or consolidated or amalgamated with any Loan Party, (b) any write-up of
any fixed asset (other than write-ups as the result of the application of purchase accounting), (c) any net gain from the
collection of the proceeds of life insurance policies, and (d) any gain arising from the acquisition of any securities, or
the extinguishment, under GAAP, of any Indebtedness, of any Loan Party.

 

“Consolidated
Net Working Capital”: as of any date of determination, (a) Consolidated Current Assets as of such date minus
(b) Consolidated Current Liabilities as of such date.

 

    	-34-	 

     

    

 

“Consolidated
Total Leverage Ratio”: as of any date of determination, the ratio of (a) the Dollar Equivalent of the aggregate
outstanding principal amount of Indebtedness (excluding any (A) Axel Johnson Subordinated Indebtedness, (B) Intercompany
Subordinated Indebtedness or (C) unsecured Indebtedness permitted under Section 8.2(h) incurred for working capital
purposes in an aggregate outstanding amount (as of such date of determination) of $50,000,000 or less with a maturity (as of such
date of determination) of less than one (1) year that is not a note (other than a promissory note evidencing commercial Indebtedness),
debenture, bond or other like obligation) of the Loan Parties as of such date minus (x) the aggregate outstanding principal
amount of Dollar Working Capital Facility Loans, the aggregate outstanding face amount of issued, but undrawn, Dollar Working Capital
Facility Letters of Credit and any Unreimbursed Amounts in respect of Dollar Working Capital Facility Letters of Credit outstanding
at such time, (y) the Dollar Equivalent of the aggregate outstanding principal amount of Multicurrency Working Capital Facility
Loans, the aggregate outstanding face amount of issued, but undrawn, Multicurrency Working Capital Facility Letters of Credit and
any Unreimbursed Amounts in respect of Multicurrency Working Capital Facility Letters of Credit outstanding at such time and (z)
the aggregate outstanding face amount of issued, but undrawn, Acquisition Facility Transportation Letters of Credit outstanding
at such time to (b) Consolidated EBITDA for the twelve (12) month period ending as of such date.

 

“Contango Facility”:
a senior secured credit facility of any Loan Party solely to be used to finance Cash and Carry Transactions, the recourse to such
Loan Party with respect to such credit facility Indebtedness is limited to its interest in the inventory, forward contracts and
receivables related to such Cash and Carry Transactions (and the proceeds thereof); provided, that (a) any release
of Collateral hereunder for inclusion as collateral for the Contango Facility has been approved by the Administrative Agent and
the Supermajority Lenders and (b) such facility is subject to an intercreditor agreement in form and substance satisfactory
to the Administrative Agent and the Supermajority Lenders.

 

“Contango Market”:
the market condition in which the price of a commodity for forward delivery is higher than the price that is quoted for spot settlement,
or where a far forward delivery price is higher than a nearer forward delivery price.

 

“Continuation/Conversion
Notice”: as defined in Section 4.3(a)

 

“Continue”,
 “Continuation” and “Continued”: the continuation of a Eurocurrency Loan from one Interest
Period to the next Interest Period.

 

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

 

“Controlled
Account”: each Pledged Account that is subject to an Account Control Agreement.

 

“Conversion
to Approving Lenders Date”: with respect to any Declining Lender Notice, the Business Day on which the Administrative
Agent receives such Declining Lender Notice; provided that if the Administrative Agent receives a Declining Lender Notice
(a) after the time specified in Section 4.22(a) or (b) on any day that is not a Business Day, in the case
of each of clause (a) and (b), the “Conversion to Approving Lenders Date” for such Declining Lender Notice shall be
deemed to be the immediately succeeding Business Day.

 

    	-35-	 

     

    

 

“Convert”,
 “Conversion” and “Converted”: a conversion of Base Rate Loans or Prime Rate Loans into Eurocurrency
Loans, or a conversion of Eurocurrency Loans into Base Rate Loans or Prime Rate Loans, which may be accompanied by the transfer
by a Lender (at its sole discretion) of a Loan from one Applicable Lending Office to another.

 

“Counterparty
Forward Contract Amount”: with respect to any Forward Contract Counterparty, an amount equal to (a) the aggregate
Marked-to-Market Value of all Eligible Forward Contracts of the Loan Parties with such Forward Contract Counterparty with a positive
value, net of (i) cash and Cash Equivalents held by the Loan Parties from such Forward Contract Counterparty for such Eligible
Forward Contract and (ii) any claim of offset or other counterclaim known to the Loan Parties to have been asserted in respect
of those Eligible Forward Contracts by such Forward Contract Counterparty, minus, (b) the aggregate Marked-to-Market
Value of all Forward Contracts of the Loan Parties with such Forward Contract Counterparty with a negative value, net of cash and
Cash Equivalents posted by the Loan Parties with such Forward Contract Counterparty for such Forward Contract.

 

“Co-Collateral
Agents”: MUFG and BNP Paribas.

 

“Co-Documentation
Agents”: ABN AMRO Capital USA LLC and Santander Bank, N.A.

 

“Co-Syndication
Agents”: BNP Paribas, Citizens Bank, N.A., Société Générale, Wells Fargo Bank, N.A. and Coöperatieve
Rabobank U.A., New York Branch.

 

“Credit Exposure”:
as to any Lender at any time, the sum of its Acquisition Facility Credit Exposure, its Dollar Working Capital Facility Committed
Tranche Credit Exposure, its Dollar Working Capital Facility Uncommitted Tranche Credit Exposure and its Multicurrency Working
Capital Facility Credit Exposure.

 

“Credit Exposure
Percentage”: as to any Lender at any time, the fraction (expressed as a percentage), the numerator of which is the Credit
Exposure of such Lender at such time and the denominator of which is the aggregate Credit Exposures of all of the Lenders at such
time.

 

“Credit Utilization
Summary”: as defined in Section 4.13.

 

“Declining Lender”:
as defined in Section 4.22(a) hereof.

 

“Declining Lender
Notice”: a notice substantially in the form of Annex V.

 

“Default”:
any of the events specified in Section 9.1, whether or not any requirement for the giving of notice, the lapse of time,
or both, has been satisfied.

 

    	-36-	 

     

    

 

“Defaulting
Lender”: at any time, any Lender that (a) within two (2) Business Days of when due, has failed to fund any portion
of any Working Capital Facility Loan, Acquisition Facility Loan, Swing Line Loan, Refunded Swing Line Loan, Dollar Swing Line Participation
Amount, Multicurrency Swing Line Participation Amount or L/C Participation Obligation (or any participation in the foregoing)
to, as applicable, any Borrower, the Administrative Agent, any Swing Line Lender or any Issuing Lender required pursuant to the
terms of this Agreement to be funded by such Lender, or has notified the Administrative Agent that it does not intend to do so
unless such Lender notifies the Administrative Agent in writing that such failure is the result of such Lender’s determination
that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable Default, shall
be specifically identified in writing) has not been satisfied; or (b) notified any Borrower, the Administrative Agent, any
Issuing Lender, or any Lender in writing that it does not intend to comply with any of its funding obligations under this Agreement
(unless such writing states that such position is based on such Lender’s determination that a condition precedent to funding
(which condition precedent, together with any applicable Default, shall be specifically identified in writing) cannot be satisfied)
or has made a public statement to the effect that it does not intend to comply with its funding obligations under this Agreement
or under other agreements generally in which it commits to extend credit; or (c) failed, within three (3) Business Day
after request by the Administrative Agent or the U.S. Borrower, to confirm that it will comply with the terms of this Agreement
relating to any of its obligations to fund prospective Working Capital Facility Loans, Acquisition Facility Loans, Swing Line Loans,
Refunded Swing Line Loans, Dollar Swing Line Participation Amounts, Multicurrency Swing Line Participation Amounts or L/C Participation
Obligations; or (d) otherwise failed to pay over to the Administrative Agent, any Issuing Lender, or any other Lender any
other amount required to be paid by it hereunder within one (1) Business Day of the date when due, unless the subject of a good
faith dispute; or (e) (i) has become or is insolvent or has a parent company that has become or is insolvent, (ii) has
become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee or custodian appointed
for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding
or appointment or has a parent company that has become the subject of a bankruptcy or insolvency proceeding, or has had a receiver,
conservator, trustee or custodian appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval
of or acquiescence in any such proceeding or appointment or (iii) has, or has a parent company that has, become the subject
of a Bail-In Action. For the avoidance of doubt, a Lender shall not be deemed to be a Defaulting Lender solely by virtue of the
ownership or acquisition of any Capital Stock of such Lender or a parent company of such Lender by a Governmental Authority.

 

“Deposit Account”:
as defined in Section 9-102 of the UCC.

 

“Designated
Account Receivable”: any Account Receivable arising from the sale or transfer of refined products by a Loan Party to
any Person that is located in the New York metropolitan area that is a commercial or industrial customer of the line of business
acquired by the Loan Parties through the acquisition of certain assets of the Castle Oil Corporation.

 

“Disclosing
Party”: as defined in Section 11.16(b).

 

“Disposition”:
with respect to any property, any sale, lease, sale and leaseback, assignment, conveyance, transfer or other disposition thereof;
and the terms “Dispose” and “Disposed of” shall have correlative meanings.

 

    	-37-	 

     

    

 

“Dollar Committed
Tranche L/C Exposure”: at any time, the total L/C Obligations with respect to Dollar Working Capital Facility
Committed Tranche Letters of Credit. The Dollar Committed Tranche L/C Exposure of any Dollar Working Capital Facility Committed
Tranche Lender at any time shall be its Dollar Working Capital Facility Commitment Percentage of the total Dollar Committed Tranche
L/C Exposure at such time.

 

“Dollar Committed
Tranche Swing Line Exposure”: at any time, the sum of the aggregate amount of all outstanding Dollar Committed Tranche
Swing Line Loans at such time. The Dollar Committed Tranche Swing Line Exposure of any Dollar Working Capital Facility Committed
Tranche Lender at any time shall be the sum of (a) its Dollar Working Capital Facility Commitment Percentage of the total
Dollar Committed Tranche Swing Line Exposure at such time related to Dollar Committed Tranche Swing Line Loans other than any Dollar
Committed Tranche Swing Line Loans made by such Lender in its capacity as a Dollar Committed Tranche Swing Line Lender and (b) if
such Lender shall be a Dollar Committed Tranche Swing Line Lender, the principal amount of all Dollar Committed Tranche Swing Line
Loans made by such Lender outstanding at such time (to the extent that the other Dollar Working Capital Facility Committed Tranche
Lenders shall not have funded their participations in such Swing Line Loans).

 

“Dollar Committed
Tranche Swing Line Lenders”: MUFG, Wells Fargo Bank, N.A. and each other Dollar Working Capital Facility Committed Tranche
Lender from time to time designated by the U.S. Borrower (and agreed to by such Lender) as a Dollar Committed Tranche Swing Line
Lender with the prior consent of the Administrative Agent (such consent not to be unreasonably withheld, conditioned or delayed)
(and upon such designation and agreement, each such Lender shall set forth its Swing Line Cap on Schedule 1.1(H) pursuant
to the terms of this Agreement), in each case in its capacity as lender of Dollar Committed Tranche Swing Line Loans hereunder.

 

“Dollar Committed
Tranche Swing Line Loans”: as defined in Section 2.3(a).

 

“Dollar Committed
Tranche Swing Line Participation Amount”: as defined in Section 2.6(b)(i)

 

“Dollar Equivalent”:
with respect to (i) an amount denominated in any currency other than United States Dollars, the equivalent in United States
Dollars of such amount determined at the Exchange Rate on the most recent Calculation Date and (ii) an amount denominated
in United States Dollars, such amount.

 

“Dollar Long
Tenor Letter of Credit Sub-Limit”: $75,000,000 at any time outstanding.

 

“Dollar Performance
Letter of Credit Sub-Limit”: $50,000,000 at any time outstanding.

 

“Dollar Swing
Line Loan”: a Dollar Committed Tranche Swing Line Loan and/or a Dollar Uncommitted Tranche Swing Line Loan, as the context
requires.

 

“Dollar Swing
Line Loan Sub-Limit”: $70,000,000 at any time outstanding.

 

    	-38-	 

     

    

 

“Dollar Swing
Line Participation Amount”: the Dollar Committed Tranche Swing Line Participation Amount and/or the Dollar Uncommitted
Tranche Swing Line Participation Amount, as the context requires.

 

“Dollar Uncommitted
Tranche L/C Exposure”: at any time, the total L/C Obligations with respect to Dollar Working Capital Facility
Uncommitted Tranche Letters of Credit. The Dollar Uncommitted Tranche L/C Exposure of any Dollar Working Capital Facility
Uncommitted Tranche Lender at any time shall be its Adjusted Dollar Working Capital Facility Uncommitted Tranche Percentage of
the total Dollar Uncommitted Tranche L/C Exposure at such time.

 

“Dollar Uncommitted
Tranche Swing Line Exposure”: at any time, the sum of the aggregate amount of all outstanding Dollar Uncommitted Tranche
Swing Line Loans at such time. The Dollar Uncommitted Tranche Swing Line Exposure of any Dollar Working Capital Facility Uncommitted
Tranche Lender at any time shall be the sum of (a) its Adjusted Dollar Working Capital Facility Uncommitted Tranche Percentage
of the total Dollar Uncommitted Tranche Swing Line Exposure at such time related to Dollar Uncommitted Tranche Swing Line Loans
other than any Dollar Uncommitted Tranche Swing Line Loans made by such Lender in its capacity as a Dollar Uncommitted Tranche
Swing Line Lender and (b) if such Lender shall be a Dollar Uncommitted Tranche Swing Line Lender, the principal amount of
all Dollar Uncommitted Tranche Swing Line Loans made by such Lender outstanding at such time (to the extent that the other Dollar
Working Capital Facility Uncommitted Tranche Lenders shall not have funded their participations in such Swing Line Loans).

 

“Dollar Uncommitted
Tranche Swing Line Lenders”: MUFG, Wells Fargo Bank, N.A. and each other Dollar Working Capital Facility Uncommitted
Tranche Lender from time to time designated by the U.S. Borrower (and agreed to by such Lender) as a Dollar Uncommitted Tranche
Swing Line Lender with the prior consent of the Administrative Agent (such consent not to be unreasonably withheld, conditioned
or delayed) (and upon such designation and agreement, each such Lender shall set forth its Swing Line Cap on Schedule 1.1(H)
pursuant to the terms of this Agreement), in each case in its capacity as lender of Dollar Uncommitted Tranche Swing Line Loans
hereunder.

 

“Dollar Uncommitted
Tranche Swing Line Loans”: as defined in Section 2.3(b)

 

“Dollar Uncommitted
Tranche Swing Line Participation Amount”: as defined in Section 2.6(b)(ii).

 

“Dollar Working
Capital Facility”: the Dollar Working Capital Facility Committed Tranche and/or the Dollar Working Capital Facility Uncommitted
Tranche, as the context requires.

 

“Dollar Working
Capital Facility Commitment”: at any date, as to any Dollar Working Capital Facility Committed Tranche Lender, the obligation
of such Dollar Working Capital Facility Committed Tranche Lender to make Dollar Working Capital Facility Committed Tranche Loans
to the Borrowers pursuant to Section 2.1(a) and to participate in Dollar Committed Tranche Swing Line Loans and Dollar
Working Capital Facility Committed Tranche Letters of Credit in an aggregate principal and/or face amount at any one time outstanding
not to exceed the amount set forth opposite such Dollar Working Capital Facility Committed Tranche Lender’s name on Schedule 1.0
under the caption “Dollar Working Capital Facility Commitment” or, as the case may be, in the Assignment and Acceptance
pursuant to which such Dollar Working Capital Facility Committed Tranche Lender becomes a party hereto, as such amount may be changed
from time to time in accordance with the terms of this Agreement. As of the Restatement Effective Date, the original aggregate
amount of the Dollar Working Capital Facility Commitments is $465,000,000.

 

    	-39-	 

     

    

 

“Dollar Working
Capital Facility Commitment Percentage”: as to any Dollar Working Capital Facility Committed Tranche Lender at any time,
the percentage which such Dollar Working Capital Facility Committed Tranche Lender’s Dollar Working Capital Facility Commitment
then constitutes of the aggregate Dollar Working Capital Facility Commitments of all Dollar Working Capital Facility Committed
Tranche Lenders at such time (or, at any time after the Dollar Working Capital Facility Commitments shall have expired or terminated,
such Dollar Working Capital Facility Committed Tranche Lenders’ Dollar Working Capital Facility Committed Tranche Credit
Exposure Percentage).

 

“Dollar Working
Capital Facility Commitment Period”: the period from and including the Restatement Effective Date to but not including
the Dollar Working Capital Facility Commitment Termination Date or such earlier date on which all of the Dollar Working Capital
Facility Commitments shall terminate as provided herein.

 

“Dollar Working
Capital Facility Commitment Termination Date”: May 19, 2022, or, if such date is not a Business Day, the next preceding
Business Day.

 

“Dollar Working
Capital Facility Committed Tranche”: the Dollar Working Capital Facility Commitments and the extensions of credit thereunder.

 

“Dollar Working
Capital Facility Committed Tranche Credit Exposure”: as to any Dollar Working Capital Facility Committed Tranche Lender
at any time, the Available Dollar Working Capital Facility Commitment of such Dollar Working Capital Facility Committed Tranche
Lender plus the amount of the Dollar Working Capital Facility Committed Tranche Extensions of Credit of such Dollar Working
Capital Facility Committed Tranche Lender.

 

“Dollar Working
Capital Facility Committed Tranche Credit Exposure Percentage”: as to any Dollar Working Capital Facility Committed Tranche
Lender at any time, the fraction (expressed as a percentage), the numerator of which is the Dollar Working Capital Facility Committed
Tranche Credit Exposure of such Dollar Working Capital Facility Committed Tranche Lender at such time and the denominator of which
is the aggregate Dollar Working Capital Facility Committed Tranche Credit Exposures of all of the Dollar Working Capital Facility
Committed Tranche Lenders at such time.

 

“Dollar Working
Capital Facility Committed Tranche Extensions of Credit”: at any date, as to any Dollar Working Capital Facility Committed
Tranche Lender at any time, the aggregate outstanding principal amount of Dollar Working Capital Facility Committed Tranche Loans
made by such Dollar Working Capital Facility Committed Tranche Lender, plus the amount of the undivided interest of such
Dollar Working Capital Facility Committed Tranche Lender in any then-outstanding Dollar Working Capital Facility Committed Tranche
L/C Obligations, plus such Dollar Working Capital Facility Committed Tranche Lender’s Dollar Committed Tranche
Swing Line Exposure.

 

    	-40-	 

     

    

 

“Dollar Working
Capital Facility Committed Tranche Issuing Lenders”: MUFG, BNP Paribas, Société Générale,
Wells Fargo Bank, N.A., Coöperatieve Rabobank U.A., New York Branch and each other Dollar Working Capital Facility Committed
Tranche Lender from time to time designated by the U.S. Borrower (and agreed to by such Lender) as a Dollar Working Capital Facility
Committed Tranche Issuing Lender with the prior consent of the Administrative Agent (such consent not to be unreasonably withheld,
conditioned or delayed) (and upon such designation and agreement, each such Lender shall set forth its Issuance Cap on Schedule
1.1(G) pursuant to the terms of this Agreement), each in its capacity as issuer of any Dollar Working Capital Facility Committed
Tranche Letter of Credit.

 

“Dollar Working
Capital Facility Committed Tranche 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 Dollar Working Capital Facility Committed Tranche Letters of Credit and
(b) the aggregate amount of drawings under Dollar Working Capital Facility Committed Tranche Letters of Credit which have
not then been reimbursed or converted to a Dollar Working Capital Facility Committed Tranche Loan pursuant to Section 3.7.

 

“Dollar Working
Capital Facility Committed Tranche L/C Participants”: with respect to any Dollar Working Capital Facility Committed
Tranche Letter of Credit, all of the Dollar Working Capital Facility Committed Tranche Lenders other than the Dollar Working Capital
Facility Committed Tranche Issuing Lender thereof.

 

“Dollar Working
Capital Facility Committed Tranche L/C Participation Obligations”: the obligations of the Dollar Working Capital
Facility Committed Tranche L/C Participants to purchase participations in the obligations of the Dollar Working Capital Facility
Committed Tranche Issuing Lenders under outstanding Dollar Working Capital Facility Committed Tranche Letters of Credit pursuant
to Section 3.6.

 

“Dollar Working
Capital Facility Committed Tranche Lender”: each Lender having a Dollar Working Capital Facility Commitment (or, after
the termination of the Dollar Working Capital Facility Commitments, each Lender holding Dollar Working Capital Facility Committed
Tranche Extensions of Credit), and, as the context requires, includes the Dollar Working Capital Facility Committed Tranche Issuing
Lenders. As of the Restatement Effective Date, each Dollar Working Capital Facility Committed Tranche Lender is specified on Schedule 1.0.

 

“Dollar Working
Capital Facility Committed Tranche Letter of Credit”: as defined in Section 3.1.

 

“Dollar Working
Capital Facility Committed Tranche Loans”: as defined in Section 2.1(a).

 

“Dollar Working
Capital Facility Committed Tranche Maturity Date”: with respect to any Dollar Working Capital Facility Committed Tranche
Loan, the earliest to occur of (i) the date on which the Dollar Working Capital Facility Committed Tranche Loans become due
and payable pursuant to Section 9, (ii) the date on which the Dollar Working Capital Facility Commitments terminate
pursuant to Section 4.1 and (iii) the Dollar Working Capital Facility Commitment Termination Date.

 

    	-41-	 

     

    

 

“Dollar Working
Capital Facility Increase”: as defined in Section 4.1(b).

 

“Dollar Working
Capital Facility Letter of Credit”: a Dollar Working Capital Facility Committed Tranche Letter of Credit and/or a Dollar
Working Capital Facility Uncommitted Tranche Letter of Credit, as the context requires.

 

“Dollar Working
Capital Facility Letter of Credit Sub-Limit”: $300,000,000 at any time outstanding.

 

“Dollar Working
Capital Facility Loans”: collectively, the Dollar Working Capital Facility Committed Tranche Loans and the Dollar Working
Capital Facility Uncommitted Tranche Loans.

 

“Dollar Working
Capital Facility Long Tenor Letters of Credit”: Dollar Working Capital Facility Letters of Credit that are Long Tenor
Letters of Credit.

 

“Dollar Working
Capital Facility Performance Letters of Credit”: Dollar Working Capital Facility Letters of Credit that are Performance
Letters of Credit.

 

“Dollar Working
Capital Facility Uncommitted Tranche”: the Dollar Working Capital Facility Uncommitted Tranche Portions and the extensions
of credit thereunder.

 

“Dollar Working
Capital Facility Uncommitted Tranche Credit Exposure”: as to any Dollar Working Capital Facility Uncommitted Tranche
Lender at any time, the Available Dollar Working Capital Facility Uncommitted Tranche Portion of such Dollar Working Capital Facility
Uncommitted Tranche Lender plus the amount of the Dollar Working Capital Facility Uncommitted Tranche Extensions of Credit
of such Dollar Working Capital Facility Uncommitted Tranche Lender.

 

“Dollar Working
Capital Facility Uncommitted Tranche Credit Exposure Percentage”: as to any Dollar Working Capital Facility Uncommitted
Tranche Lender at any time, the fraction (expressed as a percentage), the numerator of which is the Dollar Working Capital Facility
Uncommitted Tranche Credit Exposure of such Dollar Working Capital Facility Uncommitted Tranche Lender at such time and the denominator
of which is the aggregate Dollar Working Capital Facility Uncommitted Tranche Credit Exposures of all of the Dollar Working Capital
Facility Uncommitted Tranche Lenders at such time.

 

“Dollar Working
Capital Facility Uncommitted Tranche Extensions of Credit”: at any date, as to any Dollar Working Capital Facility Uncommitted
Tranche Lender at any time, the aggregate outstanding principal amount of Dollar Working Capital Facility Uncommitted Tranche Loans
made by such Dollar Working Capital Facility Uncommitted Tranche Lender, plus the amount of the undivided interest of such
Dollar Working Capital Facility Uncommitted Tranche Lender in any then-outstanding Dollar Working Capital Facility Uncommitted
Tranche L/C Obligations, plus such Dollar Working Capital Facility Uncommitted Tranche Lender’s Dollar Uncommitted
Tranche Swing Line Exposure.

 

    	-42-	 

     

    

 

“Dollar Working
Capital Facility Uncommitted Tranche Issuing Lenders”: MUFG, BNP Paribas, Société Générale,
Wells Fargo Bank, N.A., Coöperatieve Rabobank U.A., New York Branch and each other Dollar Working Capital Facility Uncommitted
Tranche Lender from time to time designated by the U.S. Borrower (and agreed to by such Lender) as a Dollar Working Capital Facility
Uncommitted Tranche Issuing Lender with the prior consent of the Administrative Agent (such consent not to be unreasonably withheld,
conditioned or delayed) (and upon such designation and agreement, each such Lender shall set forth its Issuance Cap on Schedule
1.1(G) pursuant to the terms of this Agreement), each in its capacity as issuer of any Dollar Working Capital Facility Uncommitted
Tranche Letter of Credit.

 

“Dollar Working
Capital Facility Uncommitted Tranche 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 Dollar Working Capital Facility Uncommitted Tranche Letters of Credit
and (b) the aggregate amount of drawings under Dollar Working Capital Facility Uncommitted Tranche Letters of Credit which
have not then been reimbursed or converted to a Dollar Working Capital Facility Uncommitted Tranche Loan pursuant to Section 3.7.

 

“Dollar Working
Capital Facility Uncommitted Tranche L/C Participants”: with respect to any Dollar Working Capital Facility Uncommitted
Tranche Letter of Credit, all of the Dollar Working Capital Facility Uncommitted Tranche Lenders other than the Dollar Working
Capital Facility Uncommitted Tranche Issuing Lender thereof.

 

“Dollar Working
Capital Facility Uncommitted Tranche L/C Participation Obligations”: the obligations of the Dollar Working Capital
Facility Uncommitted Tranche L/C Participants to purchase participations in the obligations of the Dollar Working Capital
Facility Uncommitted Tranche Issuing Lenders under outstanding Dollar Working Capital Facility Uncommitted Tranche Letters of Credit
pursuant to Section 3.6.

 

“Dollar Working
Capital Facility Uncommitted Tranche Lender”: each Lender having a Dollar Working Capital Facility Uncommitted Tranche
Portion (or, after the termination of the Dollar Working Capital Facility Uncommitted Tranche Portions, each Lender holding Dollar
Working Capital Facility Uncommitted Tranche Extensions of Credit), and, as the context requires, includes the Dollar Working Capital
Facility Uncommitted Tranche Issuing Lenders. As of the Restatement Effective Date, each Dollar Working Capital Facility Uncommitted
Tranche Lender is specified on Schedule 1.0.

 

“Dollar Working
Capital Facility Uncommitted Tranche Letter of Credit”: as defined in Section 3.1.

 

“Dollar Working
Capital Facility Uncommitted Tranche Loans”: as defined in Section 2.1(b).

 

“Dollar Working
Capital Facility Uncommitted Tranche Maturity Date”: with respect to any Dollar Working Capital Facility Uncommitted
Tranche Loan, the earliest to occur of (i) the date on which the Dollar Working Capital Facility Uncommitted Tranche Loans
become due and payable pursuant to Section 9, (ii) the date on which the Dollar Working Capital Facility Uncommitted
Tranche Portions terminate pursuant to Section 4.1 and (iii) the Dollar Working Capital Facility Uncommitted Tranche
Termination Date.

 

    	-43-	 

     

    

 

“Dollar Working
Capital Facility Uncommitted Tranche Percentage”: as to any Dollar Working Capital Facility Uncommitted Tranche Lender
at any time, the percentage which such Dollar Working Capital Facility Uncommitted Tranche Lender’s Dollar Working Capital
Facility Uncommitted Tranche Portion then constitutes of the Total Dollar Working Capital Facility Uncommitted Tranche Portions
at such time (or, at any time after the Dollar Working Capital Facility Uncommitted Tranche Portions shall have expired or terminated,
such Dollar Working Capital Facility Uncommitted Tranche Lenders’ Dollar Working Capital Facility Uncommitted Tranche Credit
Exposure Percentage).

 

“Dollar Working
Capital Facility Uncommitted Tranche Period”: the period from and including the Restatement Effective Date to but not
including the Dollar Working Capital Facility Uncommitted Tranche Termination Date or such earlier date on which all of the Dollar
Working Capital Facility Uncommitted Tranche Portions shall terminate as provided herein.

 

“Dollar Working
Capital Facility Uncommitted Tranche Portion”: at any date, as to any Dollar Working Capital Facility Uncommitted Tranche
Lender, the obligation of such Dollar Working Capital Facility Uncommitted Tranche Lender to consider making Dollar Working Capital
Facility Uncommitted Tranche Loans to the Borrowers pursuant to Section 2.1(b) and to participate in Dollar Uncommitted
Tranche Swing Line Loans and Dollar Working Capital Facility Uncommitted Tranche Letters of Credit in an aggregate principal and/or
face amount at any one time outstanding not to exceed the amount set forth opposite such Dollar Working Capital Facility Uncommitted
Tranche Lender’s name on Schedule 1.0 under the caption “Dollar Working Capital Facility Uncommitted Tranche
Portion” or, as the case may be, in the Assignment and Acceptance pursuant to which such Dollar Working Capital Facility
Uncommitted Tranche Lender becomes a party hereto, as such amount may be changed from time to time in accordance with the terms
of this Agreement. The Dollar Working Capital Facility Uncommitted Tranche Portion of any Declining Lender shall be deemed to be
zero (0) from and after the date such Dollar Working Capital Facility Uncommitted Tranche Lender becomes a Declining Lender, except
that such Declining Lender’s Dollar Working Capital Facility Uncommitted Tranche Portion shall not be reduced to zero (0)
for the limited purpose of an assignment by such Declining Lender to an assignee of such Declining Lender’s Dollar Working
Capital Facility Uncommitted Tranche Portion pursuant to the terms of Section 4.17.

 

“Dollar Working
Capital Facility Uncommitted Tranche Termination Date”: May 19, 2022, or, if such date is not a Business Day, the next
preceding Business Day.

 

“Early Opt-in
Election”: with respect to any then-current Benchmark, the occurrence of:

 

(1)              
(i) a determination by the Administrative Agent or (ii) a notification by the Required Lenders to the Administrative Agent
(with a copy to the Borrowers) that the Required Lenders have determined that syndicated credit facilities denominated in the applicable
currency being executed at such time, or that include language similar to that contained in Section 4.23, are being executed
or amended, as applicable, to incorporate or adopt a new benchmark interest rate to replace such Benchmark, and

 

    	-44-	 

     

    

 

(2)              
(i) the election by the Administrative Agent or (ii) the election by the Required Lenders to declare that an Early Opt-in
Election for such Benchmark has occurred and the provision, as applicable, by the Administrative Agent of written notice of such
election to the Borrowers and the Lenders or by the Required Lenders of written notice of such election to the Administrative Agent.

 

“Economic Basis”:
GAAP adjusted to include, as applicable and to the extent not already included in the calculation of GAAP at such time, (a) the
positive Market Value of inventory and exchanges in respect of transactions that do not qualify for hedging treatment under GAAP;
(b) the positive or negative Marked-to-Market Value of Forward Contracts, including, but not limited to, forward physical
purchase and sales contracts, that do not qualify as derivatives under GAAP, such as storage and transportation; provided
that the preceding clause (b), with respect to storage and transportation contracts, shall be limited to the intrinsic value
of the underlying contracts, net of any demand charges; and (c) other marked-to-market changes or adjustment as determined
by the U.S. Borrower with agreement from the Administrative Agent; provided, that in its reasonable discretion the Administrative
Agent may require the vote of the Required Lenders.

 

“EEA Financial
Institution”: (a) any credit institution or investment firm established in any EEA Member Country that is subject
to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country that is a parent of
an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member
Country that 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”: any of the member states of the European Union, Iceland, Liechtenstein, and Norway.

 

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

 

“Eligible Account
Receivable”: with respect to any Loan Party, as of any date, an Account Receivable as to which the following requirements
have been fulfilled:

 

(a)             
such Account Receivable relates to a Materials Handling Contract, rail car lease or sublease, transportation services agreement,
Commodity Contract or Financial Hedging Agreement;

 

(b)              
the relevant Loan Party has lawful and absolute title to such Account Receivable subject only to Permitted Borrowing Base
Liens or Liens in favor of the Administrative Agent for the benefit of the Secured Parties under the Loan Documents; provided
that the amount of the Eligible Account Receivable, if any, included in the U.S. Borrowing Base or Kildair Borrowing Base, as applicable,
shall be net of the aggregate amount secured by such Permitted Borrowing Base Lien (other than Liens created by the Security Documents);

 

    	-45-	 

     

    

 

(c)              
with respect to any such Account Receivable relating to a Financial Hedging Agreement, the amount of such Account Receivable
payable by the Account Debtor thereof has been determined;

 

(d)             
such Account Receivable is a valid, legally enforceable obligation of the party who is obligated under such Account Receivable;

 

(e)              
the amount of such Account Receivable included as an Eligible Account Receivable shall have been reduced by any portion
that is, or which any Loan Party has a reasonable basis to believe may be, subject to any dispute, offset, counterclaim or other
claim or defense on the part of the Account Debtor (including offset or netting relating to trade or any other payables, contra,
accrued liabilities, unrealized forward losses and net exchange payables specific to such Account Debtor) or to any claim on the
part of the Account Debtor denying payment liability under such Account Receivable (provided that any amount so deducted
shall not be further deducted from the U.S. Borrowing Base or Kildair Borrowing Base, as applicable);

 

(f)              
such Account Receivable is not evidenced by any chattel paper, promissory note or other instrument unless such chattel paper,
promissory note or other instrument is subject to a Perfected First Lien and delivered to the Administrative Agent for the benefit
of the Secured Parties;

(g)             
such Account Receivable is subject to a Perfected First Lien, and such Account Receivable is not subject to any Liens other
than Perfected First Liens or Permitted Borrowing Base Liens;

 

(h)              
(i) such Account Receivable has been fully earned (or in the case of rail car leases or subleases, invoiced no earlier
than 30 days in advance of the relevant lease period and earned as a result of the passage of time over the course of such lease
period) and such Account Receivable has been invoiced (if the issuance of such an invoice is a condition precedent to the Account
Debtor’s obligation to pay) or is, as of such date, within four (4) Business Days of being invoiced or (ii) payment
of the Account Receivable is otherwise due and payable; provided that such Account Receivable shall qualify as an Eligible
Account Receivable only (A) with respect to the U.S. Borrowing Base, if such Account Receivable arises from the sale of wholesale
Natural Gas Products where it is customary industry practice for the payment for such Natural Gas Product to be due on the 25th
of each month, not more than 30 days have elapsed after the due date specified in the original invoice; (B) if such Account
Receivable arises from a Financial Hedging Agreement and not more than five (5) Business Days have elapsed after the date
on which the payment of the Account Receivable is required to be paid under the terms of such Financial Hedging Agreement; (C)
with respect to a Designated Account Receivable, if not more than 90 days have elapsed after the due date specified in the original
invoice; and (D) for any other Account Receivable not covered by clauses (A), (B) or (C), if not more than 60 days have
elapsed after the due date specified in the original invoice; provided, further, that an “Eligible Account
Receivable” shall not include (i) any Designated Account Receivable that is outstanding longer than 120 days after the
date such Account Receivable arose and (ii) any Account Receivable (other than a Designated Account Receivable) that is outstanding
longer than 90 days after the date such Account Receivable arose; provided, further, that the aggregate amount of
Eligible Accounts Receivable invoiced in advance in respect of rail car leases or subleases shall not exceed $2,000,000;

 

    	-46-	 

     

    

 

(i)              
such Account Receivable complies with all applicable Laws (excluding any prohibition, limitation or restriction in any agreement
with a Governmental Authority to the extent that such prohibition, limitation or restriction would be ineffective under applicable
Law (including as provided under Sections 9-406 and 9-408 of the Uniform Commercial Code or Section 40(4) of the Personal
Property Security Act of Ontario (or the corresponding Section of such other applicable PPSA) as from time to time in effect in
the applicable jurisdiction)) to which the relevant Loan Party is subject;

 

(j)              
such Account Receivable is reduced by any prepayment or cash collateral from the applicable Account Debtor;

 

(k)             
if the Account Debtor of such Account Receivable is a debtor under the Bankruptcy Code or in respect of which a proceeding,
petition, application or plan of arrangement has commenced under Insolvency Laws (any of the foregoing, a “Chapter 11
Debtor”), such Account Receivable arose after the commencement of the bankruptcy case or such proceeding, petition, application
or plan (the “Petition Date”) of such Account Debtor or has been assumed by such Account Debtor;

 

(l)              
at the time of the sale giving rise to such Account Receivable, the Account Debtor is not in contractual default on any
other obligations to any Loan Party (other than (i) any amounts subject to a good faith dispute under the applicable contract,
(ii) amounts due and owing within the applicable time periods specified in clause (h) above and (iii) with respect
to any Account Debtor that is a Chapter 11 Debtor, payment defaults that occurred prior to the Petition Date of such Chapter 11
Debtor or other defaults that arose as a result of such Account Debtor becoming a Chapter 11 Debtor); provided, however,
that this clause (l) shall not apply to any Account Debtor to which a Loan Party, consistent with its internal credit policies,
has granted a waiver of a contractual default to lift a specified volume of product;

 

(m)            
except with respect to an Account Receivable described in clause (k) above, the Account Debtor obligated on such Account
Receivable (i) has not admitted in writing its inability to pay its debts generally or made a general assignment for the benefit
of its creditors, (ii) has not instituted or had instituted against it a proceeding seeking to adjudicate it a debtor, bankrupt
or insolvent or seeking liquidation, winding up, reorganization, compromise, arrangement, adjustment, stay of proceedings, protection,
relief or composition of it or its debts under any Law relating to bankruptcy, insolvency or reorganization or relief of debtors
or corporate law or seeking the entry of an order for relief or the appointment of a receiver, interim receiver, receiver and manager,
monitor, trustee or other similar official of it or for any substantial part of its property, and (iii) has not taken any
corporate action to authorize any of the foregoing;

 

    	-47-	 

     

    

 

(n)             
(i) the Account Debtor of such Account Receivable shall not be a Governmental Authority unless all actions required
under any Assignment of Claims Act, the Financial Administration Act (Canada) and any similar local, provincial or territorial
laws, rules or regulations applicable to such Account Receivable and such Governmental Authority shall have been taken to approve
and permit the assignment of rights to payment thereunder or thereon to the Administrative Agent, for the ratable benefit of the
Secured Parties, under the Security Documents and (ii) the Account Debtor of such Account Receivable shall not be a Governmental
Authority of a State within the United States unless such state has waived any claim of sovereign immunity with respect to such
Account Receivable by statute, applicable case law, contract or otherwise; provided that at the Administrative Agent’s
discretion, exercised in good faith, any Accounts Receivable that would otherwise be considered ineligible pursuant to this clause (n)
shall not be deemed ineligible solely as a result of this clause (n);

 

(o)             
if the Account Debtor of such Account Receivable is a Subsidiary or an Affiliate of the U.S. Borrower, such Account Debtor
is approved by the Required Lenders in their sole discretion (exercised in good faith);

 

(p)             
if the Account Debtor of such Account Receivable is incorporated in, or primarily conducts business in, any jurisdiction
outside the United States or Canada, such Account Debtor is an Eligible Foreign Counterparty;

 

(q)             
the Account Debtor of such Account Receivable is creditworthy in accordance with the Risk Management Policy; provided,
that such Account Debtor may be deemed non-creditworthy (and therefore such Account Receivable thereof shall be ineligible for
inclusion as an “Eligible Account Receivable”) in the judgment of the Administrative Agent after consultation
with the U.S. Borrower;

 

(r)              
such Account Receivable is denominated in United States Dollars or Canadian Dollars and payable in the United States or
Canada;

 

(s)             
such Account Receivable is not inclusive of any demurrage claim;

 

(t)              
with respect to any such Account Receivable relating to a Materials Handling Contract, such Account Receivable has been
billed in arrears; and

 

(u)             
solely with respect to any Account Receivable of a Kildair Loan Party, such Account Receivable is not an Excess Concentration
Account Receivable.

 

“Eligible Acquisition
Asset Value”: 70% multiplied by the aggregate Estimated Going Concern Value of the Approved Acquisition Assets
taken as a whole.

 

“Eligible Asphalt
Inventory”: as of any date, all Eligible Inventory of the Loan Parties consisting of asphalt.

 

“Eligible Broker”:
as defined in the definition of “Eligible Net Liquidity in Futures Accounts” in this Section 1.1.

 

    	-48-	 

     

    

 

“Eligible Cash
and Cash Equivalents”: as of any date and with respect to any Loan Party, currency consisting of United States Dollars,
Canadian Dollars or Cash Equivalents, in each case, which (i) has been deposited in a Deposit Account or a Securities Account
of such Loan Party with a Cash Management Bank that is subject to an Account Control Agreement, (ii) is subject to a Perfected
First Lien, (iii) is subject to no other Liens other than Permitted Cash Management Liens and (iv) does not constitute Cash
Collateral.

 

“Eligible Coal
Inventory”: as of any date, all Eligible Inventory of the Loan Parties consisting of Coal Products.

 

“Eligible Commodities”:
collectively, Coal Products, Natural Gas Products, Petroleum Products and asphalt.

 

“Eligible Exchange
Receivable”: an Exchange Receivable of any Loan Party that would be an Eligible Account Receivable but for the fact that
the consideration to be received by such Loan Party consists in whole or in part of the delivery of Eligible Commodities; provided,
however, that the value of an Eligible Exchange Receivable shall be the Value as of any date of the Eligible Commodities
required to be delivered to such Loan Party.

 

“Eligible Foreign
Counterparty”: with respect to any Loan Party, an Account Debtor that is incorporated in, or primarily conducts business
in, any jurisdiction outside the United States or Canada, and (A) is set forth on Schedule 1.1(C) or (B) has
been approved by the Required Lenders, in their sole discretion, from time to time after the Restatement Effective Date in accordance
with the following procedure: (x) the U.S. Borrower shall deliver a written request to the Administrative Agent for such approval
by the Required Lenders of such counterparty and credit exposure, which request shall be provided by the Administrative Agent to
the Lenders, including, if requested by a Lender, through posting on Intralinks or other web site in use to distribute information
to the Lenders, or by other electronic mail, or other notice procedure permitted under Section 11.2; and (y) the
Required Lenders shall inform the Administrative Agent of such approval in writing (by electronic communication, telecopy or facsimile)
within five (5) Business Days after receipt of notice from the Administrative Agent; provided that failure of a Lender
to respond to any request for approval within the time period provided for hereby shall be deemed to be an acceptance of such counterparty
as an Eligible Foreign Counterparty by such Lender; provided, further, that, the Supermajority Lenders, in their
sole discretion, may from time to time revoke the Eligible Foreign Counterparty status of any counterparty previously approved
as an Eligible Foreign Counterparty or reduce the previously-approved credit exposure of the Loan Parties to such counterparty,
which revocation or reduction shall be effective as of the date that is at least ten (10) days after the delivery of written notice
of such revocation or reduction by the Administrative Agent to the U.S. Borrower. The Administrative Agent may, in its sole discretion,
extend such five (5) Business Day period if the Administrative Agent determines that any counterparty requires additional
review by the Lenders. Schedule 1.1(C) shall be deemed amended to include such Eligible Foreign Counterparties and
the related credit exposure without further action immediately upon the Required Lenders’ approval of such Eligible Foreign
Counterparty and the related credit exposure in accordance with the procedure described in this definition.

 

    	-49-	 

     

    

 

“Eligible Forward
Contract”: a Forward Contract of a Loan Party as to which all of the following requirements have been fulfilled:

 

(a)             
such Forward Contract conforms to the Risk Management Policy;

 

(b)             
the Forward Contract Counterparty to such Forward Contract is not a Subsidiary of a Loan Party or an Affiliate of a Loan
Party;

 

(c)             
such Forward Contract is evidenced by a written agreement or a trade confirmation enforceable against the Forward Contract
Counterparty thereto;

 

(d)             
(i) such Forward Contract is subject to a Perfected First Lien, subject only to Permitted Borrowing Base Liens, and
(ii) (A) the grant of the Perfected First Lien over such Forward Contract is not prohibited by any contract, agreement
or instrument evidencing or governing such Forward Contract, (B) the grant of the Perfected First Lien over such Forward Contract
does not terminate such Forward Contract or give any other party thereto or to any such contract, agreement or instrument the right
to terminate such Forward Contract or such party’s obligations under any such Forward Contract or (C) if the grant of
the Perfected First Lien over such Forward Contract is only permitted under the terms of any contract, agreement or instrument
evidencing or governing such Forward Contract with the consent of any other Person party thereto, such consent has been obtained,
unless, in the case of any of sub-clauses (A) through (C) of this clause (ii), any such prohibition, limitation or restriction
would be ineffective under applicable Law (including as provided under Sections 9-406 and 9-408 of the UCC or Section 40(4)
of the Personal Property Security Act of Ontario (or the corresponding Section of such other applicable PPSA) as from time to time
in effect in the applicable jurisdiction));

 

(e)            
such Forward Contract has not been terminated and is not currently subject to termination by reason of any default, other
termination event or other similar event having occurred thereunder;

 

(f)              
if the Forward Contract Counterparty to such Forward Contract is a Chapter 11 Debtor, such Forward Contract was entered
into after the Petition Date of such Forward Contract Counterparty or has been assumed by such Forward Contract Counterparty;

 

(g)             
the Forward Contract Counterparty to such Forward Contract is not in contractual default on any other obligations to any
Loan Party (other than (i) any amounts subject to a good faith dispute under the applicable contract and (ii) with respect
to any Forward Contract Counterparty that is a Chapter 11 Debtor, payment defaults that occurred prior to the Petition Date of
such Chapter 11 Debtor or other defaults that arose as a result of such Forward Contract Counterparty becoming a Chapter 11 Debtor);
provided, however, that this clause (g) shall not apply to any Forward Contract Counterparty to which a Loan
Party, consistent with its internal credit policies, has granted a waiver of a contractual default;

 

(h)             
except with respect to a Forward Contract described in clause (f) or (g) above, the Forward Contract Counterparty to
such Forward Contract (i) has not admitted in writing its inability to pay its debts generally or made a general assignment
for the benefit of its creditors, (ii) has not instituted or had instituted against it a proceeding seeking to adjudicate
it a debtor, bankrupt or insolvent or seeking liquidation, winding up, reorganization, compromise, arrangement, adjustment, stay
of proceedings, protection, relief or composition of it or its debts under any Law relating to bankruptcy, insolvency or reorganization
or relief of debtors or seeking the entry of an order for relief or the appointment of a receiver, interim receiver, receiver and
manager, monitor, trustee or other similar official of it or for any substantial part of its property, and (iii) has not taken
any corporate action to authorize any of the foregoing;

 

    	-50-	 

     

    

 

(i)              
such Forward Contract has not been deemed ineligible as to its form by the Administrative Agent acting in its sole discretion;
and

 

(j)               
(i) the Forward Contract Counterparty to such Forward Contract shall not be a Governmental Authority unless all actions
required under any applicable Assignment of Claims Act, the Financial Administration Act (Canada), and any other similar local,
provincial, or territorial laws, rules or regulations, if any, applicable to such Forward Contract and such Governmental Authority
shall have been taken to approve and permit the assignment of rights to payment thereunder or thereon to the Administrative Agent,
for the ratable benefit of the Secured Parties under the Security Documents and (ii) the Forward Contract Counterparty to
such Forward Contract shall not be a Governmental Authority of a State within the United States unless such state has waived any
claim of sovereign immunity with respect to such Forward Contract by statute, applicable case law, contract or otherwise; provided
that at the Administrative Agent’s discretion, exercised in good faith, any Forward Contract that would otherwise be considered
ineligible pursuant to this clause (j) shall not be deemed ineligible solely as a result of this clause (j).

 

“Eligible Hedged
Natural Gas Inventory”: as of any date, the Value of Eligible Natural Gas Inventory as of such date that has been Hedged.

 

“Eligible Hedged
Petroleum Inventory”: as of any date, the Value of Eligible Petroleum Inventory as of such date that has been Hedged.

 

“Eligible In
the Money Forward Contract Amount”: as of any date and with respect to any Loan Party, to the extent that the Counterparty
Forward Contract Amount with respect to any Forward Contract Counterparty is positive, such Counterparty Forward Contract Amount.

 

“Eligible Inventory”:
as of any date, all inventory of any Loan Party consisting of Eligible Commodities valued at the then current Value, and in all
instances as to which the following requirements have been fulfilled:

 

(a)              
the inventory is owned by such Loan Party;

 

(b)              
the inventory is subject to a Perfected First Lien and is free and clear of all other Liens except Permitted Borrowing Base
Liens;

 

(c)             
all requirements set forth in Section 5(k) of the U.S. Security Agreement or Section 5(k) of the Canadian Security
Agreement, as applicable, applicable to such inventory have been satisfied;

 

    	-51-	 

     

    

 

(d)             
the inventory has not been identified for deliveries with the result that a buyer may have rights to the inventory that
could be superior to the Perfected First Liens, nor shall such inventory have become subject to a customer’s ownership or
lien;

 

(e)              
the inventory is in transit, in a pipeline or in a storage facility at an Approved Inventory Location in the U.S. or Canada
and, if such inventory is in transit on a water borne vessel chartered, rented, owned or leased by such Loan Party, either a bill
of lading related thereto has been issued to or endorsed to the order of such Loan Party (without further endorsement as of such
date) or a letter of indemnity for payment, provided by the holder or named shipper thereof, has been issued to or addressed to
such Loan Party;

 

(f)              
the inventory is in good saleable condition, is not deteriorating in quality and is not obsolete;

 

(g)             
with respect to any inventory consisting of biofuels, biodiesel or ethanol, not more than six (6) months has passed
since the receipt thereof; and

 

(h)              
the inventory has not been placed on consignment;

 

provided that (i) the value
of Eligible Inventory shall be reduced by the Value of any net volumetric balance owed by any Loan Party to a counterparty with
whom such Loan Party holds title to the inventory, and (ii) (A) line fill and tank bottoms (other than any tank bottoms
consisting of distillates, gasolines or other light oil products or residual fuel oils acceptable to the Administrative Agent in
its sole discretion) in transportation or storage facilities owned by any Loan Party and (B) the portion of commodities held
in third party transportation or storage facilities (1) that are tank bottoms (other than any tank bottoms consisting of distillates,
gasolines or other light oil products or residual fuel oils acceptable to the Administrative Agent in its sole discretion) or (2) line
fill or working inventory (however designated) that is not subject to an agreement recognizing such Loan Party’s ownership
and/or the withdrawal of which is subject to contractual restrictions (other than any tank bottoms consisting of distillates, gasolines
or other light oil products or residual fuel oils acceptable to the Administrative Agent in its sole discretion), will not be considered
 “Eligible Inventory”. For the purposes of this definition, “tank bottoms” with respect to asphalt shall
be deemed to be that portion of asphalt that is located at or below the suction point.

 

“Eligible L/C
Backed Account Receivable”: at the time of any determination thereof, each Eligible Account Receivable which is supported
by a letter of credit in form and substance reasonably acceptable to the Administrative Agent issued by a bank which is Investment
Grade and which letter of credit does not terminate earlier than fifteen (15) days after the expected payment date of the
Account Receivable supported by such letter of credit; provided, that, following the occurrence and during the continuance
of an Event of Default with respect to any new letter of credit described in this definition, the applicable Loan Party shall have
(A) at the request of the Administrative Agent, assigned the proceeds of such letter of credit to the Administrative Agent, (B)
at the request of the Administrative Agent, caused the issuing bank of such letter of credit to consent to such assignment and
(C) unless otherwise agreed by the Administrative Agent, caused such letter of credit to be advised by the Administrative Agent.

 

    	-52-	 

     

    

 

“Eligible Letters
of Credit Issued for Commodities Not Yet Received”: as of any date, the aggregate face amount of either standby and/or
documentary Letters of Credit for the purchase of Eligible Commodities for which title has passed to a Loan Party as of such date,
as long as such Loan Party is able to calculate drawable liability thereof in a manner acceptable to the Administrative Agent in
its sole discretion (exercised in good faith), which such manner shall be in such Loan Party’s normal course of business
and consistent with its month-end reconciliation processes, minus any amounts drawn or paid under such Letters of Credit
minus any other liabilities then existing that may be satisfied by any such Letters of Credit minus any other liabilities
that may be owed by such Loan Party to the beneficiary of any such Letters of Credit and which may be satisfied by any such Letters
of Credit.

 

“Eligible Long
Term Unrealized Forward Gain”: as of any date and with respect to any Loan Party, the Aggregate Eligible In the Money
Forward Contract Amount at such date for Eligible Forward Contract obligations whose final cash or physical settlement is during
the period exceeding twenty-four (24) months but no greater than thirty-six (36) months after such date; provided
that, notwithstanding the foregoing, an Eligible Forward Contract shall be excluded from the calculation of Eligible Long Term
Unrealized Forward Gain if it is not in compliance with the Risk Management Policy or is a Futures Contract.

 

“Eligible Medium
Term Unrealized Forward Gain”: as of any date and with respect to any Loan Party, the Aggregate Eligible In the Money
Forward Contract Amount at such date for Eligible Forward Contract obligations whose final cash or physical settlement is during
the period exceeding twelve (12) months but no greater than twenty-four (24) months after such date; provided
that, notwithstanding the foregoing, an Eligible Forward Contract shall be excluded from the calculation of Eligible Medium Term
Unrealized Forward Gain if it is not in compliance with the Risk Management Policy or is a Futures Contract.

 

“Eligible Natural
Gas Inventory”: as of any date, all Eligible Inventory of the Loan Parties consisting of Natural Gas Products.

 

“Eligible Net
Liquidity in Futures Accounts”: as of any date, the Net Liquidation Value of any Commodity Account of any Loan Party
as of such date maintained with BNP Paribas Commodity Futures, Inc., Citigroup Global Markets Inc., SG Americas Securities LLC
or a reputable broker reasonably acceptable to the Administrative Agent (each, so long as such Person remains qualified as such
pursuant to the next succeeding sentence, an “Eligible Broker”) with respect to positions held by such Eligible
Broker on a regulated exchange (including the New York Mercantile Exchange, the Intercontinental Commodities Exchange and CME ClearPort)
that have been maintained at all times and in all respects in accordance with the Risk Management Policy and this Agreement (including
for the avoidance of doubt, all transactions credited to such Commodity Account or related thereto) which such Commodity Account
is subject to (i) a Perfected First Lien, subject only to Permitted Borrowing Base Liens and any Lien of such Eligible Broker
in connection with any indebtedness of such Loan Party to such Eligible Broker permitted by the applicable Account Control Agreement
(including, but not limited to, if permitted, any right of the Eligible Broker to close out open positions of such Loan Party without
prior demand for additional margin and without prior notice) (such amounts in a Commodity Account subject to the liens and close-out
rights of the Eligible Broker set forth in this clause (i), the “Brokerage Account Deducts”), and (ii) an
Account Control Agreement among the Administrative Agent, such Loan Party holding such account and the Eligible Broker with which
such account is maintained. For the avoidance of doubt, a broker may, at any time, cease to qualify as an “Eligible Broker”
for all purposes hereunder upon two (2) Business Days’ notice thereof by the Administrative Agent, acting in its reasonable
discretion, to the U.S. Borrower. Eligible Net Liquidity in Futures Accounts shall include any discounted face value of any U.S. Treasury
Securities held as of such date in such account that are zero coupon securities issued by the United States of America, minus
any unearned interest on such U.S. Treasury Securities as of such date; provided that the maturity date thereof is
within six (6) months of the relevant Borrowing Base Date; provided, further, that the Eligible Net Liquidity
in Futures Accounts as calculated pursuant to this definition shall be net of any Brokerage Account Deducts.

 

    	-53-	 

     

    

 

“Eligible Petroleum
Inventory”: as of any date, all Eligible Inventory of the Loan Parties consisting of Petroleum Products.

 

“Eligible RINs”:
as of any date, all inventory of any Loan Party consisting of RINs valued at the then current Value, and in all instances as to
which the following requirements have been fulfilled:

 

(a)              
the Eligible RIN is owned by such Loan Party;

 

(b)              
the Eligible RIN is subject to a Perfected First Lien and is free and clear of all other Liens except Permitted Borrowing
Base Liens;

 

(c)              
if the Eligible RIN is credited to a Commodity Account or Securities Account, such account is a Controlled Account;

 

(d)              
all requirements of applicable law with respect to the Eligible RIN have been satisfied; and

 

(e)              
the Eligible RIN has an expiration date at least 31 days after such date.

 

“Eligible Short
Term Unrealized Forward Gain”: as of any date and with respect to any Loan Party, the Aggregate Eligible In the Money
Forward Contract Amount at such time for Eligible Forward Contract obligations whose final cash or physical settlement is during
the period ending twelve (12) months after such date; provided that, notwithstanding the foregoing, an Eligible Forward
Contract shall be excluded from the calculation of Eligible Short Term Unrealized Forward Gain if it is not in compliance with
the Risk Management Policy or is a Futures Contract.

 

“Eligible Tier 1
Account Receivable”: at the time of any determination thereof, each Eligible Account Receivable the Account Debtor of
which is a Tier 1 Counterparty.

 

“Eligible Tier 2
Account Receivable”: at the time of any determination thereof, each Eligible Account Receivable the Account Debtor of
which is a Tier 2 Counterparty.

 

“Eligible Unbilled
Account Receivable”: as of any date, each Account Receivable of any Loan Party which would be an Eligible Account Receivable
but for the fact that such Account Receivable has not actually been invoiced prior to such date.

 

    	-54-	 

     

    

 

“Eligible Unbilled
Tier 1 Account Receivable”: at the time of any determination thereof, each Eligible Unbilled Account Receivable
the Account Debtor of which is a Tier 1 Counterparty.

 

“Eligible Unbilled
Tier 2 Account Receivable”: at the time of any determination thereof, each Eligible Unbilled Account Receivable
the Account Debtor of which is a Tier 2 Counterparty.

 

“Employee Benefit
Plans”: any benefit plan or arrangements in respect of any employees (including employees who are employed in Canada)
or past employees operated by any Loan Party or in which any Loan Party participates and which provides benefits on retirement
or voluntary withdrawal from or involuntary termination of employment, including termination indemnity payments and post-retirement
medical benefits.

 

“Environmental
Laws”: any and all federal, state, provincial, territorial or local statutes, orders, regulations or other Law having
the force and effect of law, including common law, guidelines, decrees, orders, orders-in-council, injunctions, rules, judgments,
consents, directives, instructions, standards, judicial or administrative decisions or other requirements by Governmental Authority
having the force and effect of law, including judicial interpretation of any of the foregoing concerning the environment or health
and safety (including regulating, relating to or imposing liability or standards of conduct concerning Materials of Environmental
Concern) which are in existence now or in the future and are binding at any time on any Loan Party in the relevant jurisdiction
in which such Loan Party has been or is operating (including by the export of its products or its waste to that jurisdiction).
Notwithstanding anything in this Agreement or in any other Loan Document to the contrary, the defined term “Laws” and
the usage of such term (including as used in the defined term “Requirement of Law”) herein and in each other Loan Document
shall not include any of the items in the definition of the term “Laws” to the extent they both (i) concern the
environment or health and safety (including regulating, relating to or imposing liability or standards of conduct concerning Materials
of Environmental Concern) and (ii) do not have the force and effect of law.

 

“Environmental
Permits”: any permit, license, registration, consent, approval and other authorization from a Governmental Authority
required under any Environmental Law for the operation of the business, including facilities and equipment, of any Loan Party conducted
on, at the Properties.

 

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

 

“ESA”:
as defined in Section 6.1(x).

 

“Estimated Going
Concern Value”: with respect to any Approved Acquisition Asset, the “going concern value” of such Approved
Acquisition Asset as reflected in the most recent Business Valuation of such Approved Acquisition Asset obtained by the Administrative
Agent on or prior to the Restatement Effective Date (or with respect to any Approved Acquisition Asset acquired after the Restatement
Effective Date, upon acquisition thereof), pursuant to Section 7.16, or at the request of the U.S. Borrower (at the
U.S. Borrower’s sole expense).

 

    	-55-	 

     

    

 

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

 

“Eurocurrency
Base Rate”: with respect to (a) any Eurocurrency Loan denominated in United States Dollars for any Interest Period,
the London interbank offered rate as administered by the ICE Benchmark Administration (or any other Person that takes over the
administration of such rate) for United States Dollars for a period equal in length to such Interest Period as displayed on pages
LIBOR01 or LIBOR02 of the Reuters Screen that displays such rate (or, in the event such rate does not appear on either of such
Reuters pages, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other
information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion;
in each case, the “LIBOR Screen Rate”) as of the Specified Time on the Quotation Day for such Interest Period;
provided that if any LIBOR Screen Rate shall be less than 0.50%, such rate shall be deemed to be 0.50% for purposes of this
Agreement and (b) any Eurocurrency Loan denominated in Canadian Dollars for any Interest Period, the CDOR Screen Rate as of
the Specified Time and on the Quotation Day for such Interest Period; provided that if any CDOR Screen Rate shall be less
than 0.50%, such rate shall be deemed to be 0.50% for purposes of this Agreement; provided, further, if a LIBOR Screen
Rate or CDOR Screen Rate, as applicable, shall not be available at such time for such Interest Period (an “Impacted Interest
Period”), then the Eurocurrency Base Rate for such currency and Interest Period shall be the Interpolated Rate at such
time (provided that if the Interpolated Rate shall be less than 0.50%, such rate shall be deemed to be 0.50% for purposes
of this Agreement); provided further that all of the foregoing shall be subject to Section 4.15(a).

 

“Eurocurrency
Loans”: Loans for which the applicable rate of interest is based upon the Eurocurrency Rate.

 

“Eurocurrency
Rate”: with respect to each day during each Interest Period pertaining to a Eurocurrency Loan, a rate per annum
determined for such day in accordance with the following formula:

 

	
        Eurocurrency
        Base Rate

	1.00 - Eurocurrency Reserve Requirements

 

“Eurocurrency
Reserve Requirements”: for any day as applied to a Eurocurrency Loan in any currency, the aggregate of the maximum reserve,
liquid asset or similar percentages (including basic, supplemental, marginal and emergency reserves) expressed as a decimal established
by any Governmental Authority of the jurisdiction of such currency (or by any other Person) to which banks in such jurisdiction
are subject for any category of deposits or liabilities customarily used to fund loans in such currency or by reference to which
interest rates applicable to loans in such currency are determined. Such reserve, liquid assets or similar percentages shall, in
the case of United States Dollars, include those imposed pursuant to Regulation D of the Board. Eurocurrency Loans denominated
in Canadian Dollars shall be deemed to be the subject of such reserve requirements without benefit of or credit for proration,
exemptions or offsets that may be available from time to time to any Lender under Regulation D or any other applicable law, rule
or regulation. The Eurocurrency Reserve Requirements shall be adjusted automatically on and as of the effective date of any change
in any reserve percentage.

 

    	-56-	 

     

    

 

“Event of Default”:
any of the events specified in Section 9.1 for which all applicable requirements for the giving of notice, the lapse
of time, or both, have been satisfied.

 

“Excess Concentration
Accounts Receivable”: with respect to any Account Debtor, to the extent the aggregate amount of Accounts Receivable owing
from such Account Debtor and its Affiliates to the Kildair Loan Parties exceeds 15% of the aggregate Eligible Accounts Receivable
for all Kildair Loan Parties, any Accounts Receivable in excess of such threshold; provided that any Account Receivable
that is either (i) owing from an Account Debtor listed on Schedule 1.1(F) (as such schedule may be updated by
the U.S. Borrower from time to time with the approval of the Administrative Agent), (ii) owing from an Account Debtor who
is Investment Grade or (iii) supported by an Acceptable Investment Grade Credit Enhancement, shall be excluded from the aggregate
amount of Accounts Receivable owing from the applicable Account Debtor for purposes of the above calculation.

 

“Exchange Rate”:
with respect to any non-United States Dollar or non-Canadian Dollar currency, as applicable, on any date, the rate at which such
currency may be exchanged into United States Dollars or Canadian Dollars, as applicable, as set forth on such date on the relevant
Reuters currency page at or about 11:00 A.M., London time, on such date. In the event that such rate does not appear on any Reuters
currency page, the “Exchange Rate” with respect to such non-United States Dollar or non-Canadian Dollar currency, as
applicable, shall be determined by reference to such other publicly available service for displaying exchange rates as may be agreed
upon by the Administrative Agent and the U.S. Borrower or, in the absence of such agreement, such “Exchange Rate” shall
instead be the Administrative Agent’s spot rate of exchange in the interbank market where its foreign currency exchange operations
in respect of such non-United States Dollar or non-Canadian Dollar currency, as applicable, are then being conducted, at or about
10:00 A.M., local time, on such date for the purchase of United States Dollars or Canadian Dollars, as applicable, with such non-United
States Dollar or non-Canadian Dollar currency, as applicable, for delivery two Business Days later; provided, that if at
the time of any such determination, no such spot rate can reasonably be quoted, the Administrative Agent may use any reasonable
method as it deems applicable to determine such rate, and such determination shall be conclusive absent manifest error.

 

“Exchange Receivable”:
any right to receive consideration that would be an Account Receivable but for the fact that the consideration to be received by
the relevant Loan Party consists in whole or in part of the delivery of Eligible Commodities.

 

“Excluded Accounts”:
collectively, (a) the Deposit Accounts of Wintergreen set forth on Schedule 1.1(I) hereto solely to the extent that (i)
such Deposit Accounts constitute payroll accounts containing funds to be used solely for payroll payments (including payroll taxes)
and (ii) the amount on deposit in such Deposit Accounts, in aggregate, at any one time is less than $400,000 and (b) Deposit Accounts
of any Grantor solely to the extent that the amount on deposit in such Deposit Accounts, in aggregate, at any one time is less
than $200,000.

 

“Excluded Swap
Obligation”: with respect to any Loan Party, any Swap Obligation if, and to the extent that, and only for so long as,
all or a portion of the guarantee of such Loan Party of, or the grant by such Loan Party of a security interest to secure, as applicable,
such Swap Obligation (or any guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation
or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of
such Loan Party’s failure to constitute an “eligible contract participant,” as defined in the Commodity Exchange
Act and the regulations thereunder, at the time the guarantee of (or grant of such security interest by, as applicable) such Loan
Party becomes or would become effective with respect to such Swap Obligation. If a Swap Obligation arises under a master agreement
governing more than one Swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to Swaps
for which such guarantee or security interest is or becomes illegal.

 

    	-57-	 

     

    

 

“Exempt CFC”:
any “controlled foreign corporation” (as defined in Section 957 of the Code) of which the MLP or a Subsidiary
of the MLP is a “United States shareholder” (within the meaning of the Code).

 

“Existing Acquisition
Facility Letter of Credit”: each outstanding “Acquisition Facility Letter of Credit” (as defined in the Existing
Credit Agreement) set forth on Schedule 3.2.

 

“Existing Acquisition
Facility Loan”: each “Acquisition Facility Loan” (as defined in the Existing Credit Agreement) that is outstanding
immediately prior to the Restatement Effective Date.

 

“Existing Credit
Agreement”: that certain Amended and Restated Credit Agreement, dated as of December 9, 2014, among the Borrowers, the
lenders and agents party thereto, and MUFG, as successor administrative agent, successor Canadian agent and successor collateral
agent, as amended, restated, supplemented or otherwise modified from time to time immediately prior to the Restatement Effective
Date.

 

“Existing Dollar
Working Capital Facility Letters of Credit”: each “Dollar Working Capital Facility Letter of Credit” (as
defined in the Existing Credit Agreement) set forth on Schedule 3.1(a).

 

“Existing Dollar
Working Capital Facility Loans”: each “Dollar Working Capital Facility Loan” (as defined in the Existing
Credit Agreement) that is outstanding immediately prior to the Restatement Effective Date.

 

“Existing Lender”:
MUFG in its capacity as the sole “Lender” (as defined in the Existing Credit Agreement) pursuant to the terms of the
Successor Agent Agreement.

 

“Existing Mortgaged
Property”: each property that is currently covered by a mortgage or deed of trust pursuant to the Existing Credit Agreement.

 

“Existing Multicurrency
Working Capital Facility Letters of Credit”: each “Multicurrency Working Capital Facility Letter of Credit”
(as defined in the Existing Credit Agreement) set forth on Schedule 3.1(b).

 

“Existing Multicurrency
Working Capital Facility Loans”: each “Multicurrency Working Capital Facility Loan” (as defined in the Existing
Credit Agreement) that is outstanding immediately prior to the Restatement Effective Date.

 

    	-58-	 

     

    

 

“Extensions
of Credit”: at any date, as to any Lender at any time, the amount of its Dollar Working Capital Facility Committed Tranche
Extensions of Credit, its Dollar Working Capital Facility Uncommitted Tranche Extensions of Credit, its Multicurrency Working Capital
Facility Extensions of Credit or its Acquisition Facility Extensions of Credit at such time, as the context requires.

 

“Facility”:
the Acquisition Facility, the Dollar Working Capital Facility Committed Tranche, the Dollar Working Capital Facility Uncommitted
Tranche or the Multicurrency Working Capital Facility, as the context requires.

 

“Facility Increase”:
as defined in Section 4.1(b).

 

“FATCA”:
Sections 1471 through 1474 of the Code, as of the Restatement Effective Date (or any amended or successor version that is
substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations
thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code, any intergovernmental agreements entered
into in connection with the implementation of such Sections of the Code and any fiscal or regulatory legislation or rules adopted
pursuant to such intergovernmental agreements.

 

“Federal Funds
Effective Rate”: for any day, the rate calculated by the NYFRB based on such day’s federal funds transactions by
depositary institutions, as determined in such manner as the NYFRB shall set forth on its public website from time to time, and
published on the next succeeding Business Day by the NYFRB as the federal funds effective rate, provided that if the Federal
Funds Effective Rate shall be less than zero, such rate shall be deemed zero for the purposes of this Agreement.

 

“Federal Reserve
Bank of New York’s Website”: the website of the Federal Reserve Bank of New York at http://www.newyorkfed.org,
or any successor source.

 

“Fee Letter”:
the fee letter dated as of February 28, 2020, between MUFG and the U.S. Borrower.

 

“FERC”:
the U.S. Federal Energy Regulatory Commission.

 

“FERC Contract
Collateral”: as defined in the Security Agreement.

 

“Financial Hedging
Agreement”: any currency swap, cross-currency rate swap, currency option, interest rate option, interest rate swap, cap
or collar agreement or similar arrangement or any other similar transaction (including any option to enter into any of the foregoing)
or any combination of the foregoing including any derivative relating to interest rate or currency rate risk, in each case which
is not a Commodity OTC Agreement.

 

“Financing Lease”:
any lease of property, real or personal, the obligations of the lessee in respect of which are required in accordance with GAAP
to be capitalized on a balance sheet of the lessee; provided that the Borrowers may choose for any lease of any Person that
are or would be characterized as an operating lease in accordance with GAAP on December 31, 2018 (whether or not such operating
lease was in effect on such date) to be accounted for as an operating lease (and not as a Financing Lease) for purposes of this
Agreement regardless of any change in GAAP following such date that would otherwise require such operating lease to be recharacterized
(on a prospective or retroactive basis or otherwise) as a Financing Lease.

 

    	-59-	 

     

    

 

“First Purchaser
Lien”: a so-called “first purchaser” Lien, as defined in Texas Bus. & Com. Code Section 9.343, comparable
Laws of the states of North Dakota, Oklahoma, Kansas, Mississippi, Wyoming, Montana or New Mexico, or any other comparable Law
of any such jurisdiction or any other applicable jurisdiction.

 

“First Purchaser
Lien Amount”: as of any date, in respect of any property of a Loan Party subject to a First Purchaser Lien, the aggregate
amount of the obligations outstanding as of such date giving rise to such First Purchaser Lien, less any portion of such obligations
that are secured or supported by a Letter of Credit.

 

“Fiscal Year”:
with respect to any Person, such Person’s fiscal year, which consists of a twelve (12) month period beginning on each
January 1 and ending on each December 31.

 

“Foreign Lender”:
a Lender that is not a U.S. Person.

 

“Forward Contract”:
as of any date of determination, a Commodity Contract with a delivery date or, with respect to a Commodity OTC Agreement, price
settlement date, one day or later after such date of determination.

 

“Forward Contract
Counterparty”: any counterparty to a Forward Contract of any Loan Party.

 

“Futures Contracts”:
contracts for making or taking delivery of Eligible Commodities that are traded on a market-recognized commodity exchange, which
such contracts meet the specification and delivery requirements of futures contracts on such commodity exchange.

 

“GAAP”:
generally accepted accounting principles in the United States of America in effect from time to time.

 

“General Partner”:
Sprague Resources GP LLC, a Delaware limited liability company.

 

“Governing Documents”:
with respect to (a) a corporation or unlimited liability company, its articles or notice of articles, as applicable, memorandum
or certificate of incorporation, continuance or amalgamation, as applicable, and by-laws or articles, as applicable; (b) a
partnership, its certificate of limited partnership or partnership declaration, as applicable, and partnership agreement; (c) a
limited liability company, its certificate of formation and operating agreement; and (d) any other Person, the other organizational
or governing documents of such Person.

 

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

 

    	-60-	 

     

    

 

“Grantor”:
any Person executing and delivering a Security Document, or becoming party to a Security Document (by supplement or otherwise),
as a grantor or pledgor (or in a similar role), pursuant to this Agreement.

 

“Guarantee”:
the Amended and Restated Guarantee, dated as of December 9, 2014 by the Loan Parties in favor of the Administrative Agent, as amended,
restated, supplemented or otherwise modified from time to time.

 

“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 an obligation for 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 a 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 terms
 “Guarantee” and “Guaranteed” used as a verb shall have a correlative meaning. 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 U.S. Borrower in good faith. Guarantee Obligation shall not include any performance
bonds, surety bonds, appeal bonds or customs bonds required in the ordinary course of business or in connection with the enforcement
of rights or claims of any Loan Party or in connection with judgments that have not resulted in a Default or an Event of Default.

 

“Hedged”:
at any time in relation to Eligible Inventory, if the purchase or sale price thereof has been effectively hedged as evidenced by
the most recent Position Report or, if not in such Position Report, as otherwise reasonably acceptable to the Administrative Agent
through one or a combination of Commodity Contracts or Futures Contracts entered into or held in accordance with the Risk Management
Policy for the corresponding volume of physical Eligible Commodities held in Eligible Inventory; provided that the applicable
Loan Parties’ rights under such Commodity Contracts or Futures Contracts and all amounts due or to become due to the relevant
Loan Party under or in respect of such Commodity Contracts or Futures Contracts are subject to a Perfected First Lien.

 

    	-61-	 

     

    

 

“Hedging Agreement
Qualification Notification”: a notification in substantially in the form of Exhibit T.

 

“Hydro-Québec
Indemnity”: the indemnity provided by Kildair to Hydro-Québec pursuant to the Offer to Purchase between Kildair
and Hydro-Québec with respect to potential environmental liability at the lands acquired pursuant thereto on November 28,
2011 that are situated in the town of Sorel-Tracy, Province of Québec and that are designated and known as lots 4 784 169
and 4 784 171, Cadastre of Québec, registration division of Richelieu.

 

“Immaterial
Subsidiary”: any Subsidiary that has no assets.

 

“Increase Amount”:
as defined in Section 4.1(b)(iii).

 

“Increase Effective
Date”: as defined in Section 4.1(b).

 

“Increase and
New Lender Agreement”: as defined in Section 4.1(b)(iii).

 

“Increase Period”:
the period from the Restatement Effective Date until (but excluding) the Applicable Facility Termination Date.

 

“Increasing
Lender”: as defined in Section 4.1(b)(iii).

 

“Indebtedness”:
of any Person at any date, without duplication, (a) all indebtedness of such Person for borrowed money (whether by loan or
the issuance and sale of debt securities) or for the deferred purchase price of property or services (other than current trade
liabilities incurred in the ordinary course of business and payable in accordance with customary practice), (b) any other
indebtedness of such Person which is evidenced by a note, bond, debenture or similar instrument, (c) all obligations of such
Person under Financing Leases or Synthetic Leases, (d) all obligations of such Person in respect of letters of credit, acceptances
or similar instruments issued or created for the account of such Person, (e) all liabilities of a third party secured by (or
for which the holder of such obligations has an existing right, contingent or otherwise, to be secured by) any Lien on any property
owned by such Person even though such Person has not assumed or otherwise become liable for the payment thereof, (f) all Guarantee
Obligations of such Person in respect of obligations of the kind referred to in clauses (a) through (e) above, and (g) for
the purposes of Section 9.1(f) only, all obligations of such Person in respect of Commodity OTC Agreements and Financial
Hedging Agreements. The amount of any Indebtedness under (x) clause (e) shall be equal to the lesser of (A) the
stated amount of the relevant obligations and (B) the fair market value of the property subject to the relevant Lien, and
(y) clause (g) shall be the net amount, including any net termination payments, required to be paid to a counterparty
rather than the notional amount of the applicable Commodity OTC Agreement or Financial Hedging Agreement. Notwithstanding the foregoing,
the Maine Dock Liability Obligations and the Hydro-Québec Indemnity shall not be considered Indebtedness for purposes of
this Agreement.

 

“Indemnified
Liabilities”: as defined in Section 11.6.

 

    	-62-	 

     

    

 

“Indemnitee”:
as defined in Section 11.6.

 

“Independent
Entity Schedule”: Schedule 1.1(D) hereto, which sets forth each counterparty with which any Loan Party transacts
that has an Affiliate and/or Subsidiary that holds itself out as an independent credit and a separate legal entity, together with
any of such counterparty’s independent Affiliates and/or Subsidiaries, provided, that (a) a new Person may be
added to such Schedule 1.1(D) at the sole discretion (exercised in good faith) of the Administrative Agent after the
Restatement Effective Date and (b) a Person may be removed from such Schedule 1.1(D) by the Administrative Agent,
acting in its reasonable discretion, upon ten (10) Business Days’ notice to the U.S. Borrower.

 

“Ineligible
Participant”: Persons identified by the U.S. Borrower to the Administrative Agent and the Lenders from time-to-time as
Persons to whom no Participation may be sold pursuant to Section 11.7 for competitive reasons, and as to which the
Administrative Agent has consented to the designation of such Person as an Ineligible Participant.

 

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

 

“Insolvency
Laws”: each of the Bankruptcy and Insolvency Act (Canada), the Companies’ Creditors Arrangement Act (Canada), and
the Winding-Up and Restructuring Act (Canada), each as now and hereafter in effect, any successors to such statutes and any other
applicable insolvency or other similar law of any jurisdiction, including any corporate law of any jurisdiction permitting a debtor
to obtain a stay or a compromise of the claims of its creditors against it.

 

“Insolvent”:
pertaining to a condition of Insolvency.

 

“Intellectual
Property”: as defined in Section 5.9.

 

“Intercompany
Subordinated Indebtedness”: with respect to any Loan Party, Indebtedness owed by such Loan Party to the MLP or any Subsidiary
that is subject to a subordination agreement substantially in the form of Exhibit H-1.

 

“Interest Payment
Date”: (a) with respect to any Base Rate Loan or Prime Rate Loan (including, for the avoidance of doubt, any Swing
Line Loan), (i) prior to the Dollar Working Capital Facility Committed Tranche Maturity Date, the Dollar Working Capital Facility
Uncommitted Tranche Maturity Date, the Multicurrency Working Capital Facility Maturity Date or the Acquisition Facility Maturity
Date, as applicable, the first Business Day of each month and (ii) the Dollar Working Capital Facility Committed Tranche Maturity
Date, Dollar Working Capital Facility Uncommitted Tranche Maturity Date, the Multicurrency Working Capital Facility Maturity Date
or the Acquisition Facility Maturity Date, as applicable, (b) with respect to any Eurocurrency Loan, the last day of each
Interest Period with respect thereto and, with respect to any Eurocurrency Loan having an Interest Period of six (6) months,
the last day of such Interest Period and the date which is three (3) months after the start of such Interest Period and (c) with
respect to any Loan (other than as provided in the first sentence of Section 4.9(b)), the date of any repayment or
prepayment of principal made in respect thereof.

 

    	-63-	 

     

    

 

“Interest Period”:
(a) with respect to any Eurocurrency Loan:

 

(i)       initially,
the period commencing on the Borrowing Date or Conversion date, as the case may be, with respect to such Eurocurrency Loan and
ending one (1), two (2), three (3) or six (6) months thereafter, as irrevocably selected by the applicable Borrower
in its Borrowing Notice or Continuation/Conversion Notice, as the case may be, given with respect thereto; and

 

(ii)      thereafter,
each period commencing on the last day of the immediately preceding Interest Period applicable to such Eurocurrency Loan and ending
one (1), two (2), three (3) or six (6) months thereafter, as irrevocably selected by the applicable Borrower in its
Continuation/Conversion Notice to the Administrative Agent not less than three (3) Business Days prior to the last day of
the then current Interest Period with respect thereto;

 

provided that:

 

(A)            
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;

 

(B)             
any Interest Period with respect to any Loan that would otherwise extend beyond the Applicable Facility Termination Date,
shall end on the Applicable Facility Termination Date; and

 

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

 

“Interpolated
Rate”: at any time, for any Interest Period, the rate per annum (rounded to the same number of decimal places
as relevant Screen Rate) determined by the Administrative Agent (which determination shall be conclusive and binding absent manifest
error) to be equal to the rate that results from interpolating on a linear basis between: (a) the applicable Screen Rate (for
the longest period for which that Screen Rate is available in the applicable currency) that is shorter than the Impacted Interest
Period and (b) the applicable Screen Rate (for the shortest period for which that Screen Rate is available in the applicable
currency) that exceeds the Impacted Interest Period, in each case, as of the Specified Time on the Quotation Day for such Interest
Period.

 

“Investment”:
any advance, loan or extension of credit (other than trade receivables incurred in the ordinary course of the applicable Person’s
business and payable in accordance with customary market practices) or capital contribution to, investment in, or purchase or acquisition
of any stock, bonds, notes, debentures or other securities of or any assets constituting a business unit of, any Person.

 

    	-64-	 

     

    

 

“Investment
Grade”: with respect to any Person, the long term senior unsecured non-credit enhanced credit rating or shadow rating
of which is BBB- or higher by S&P or Baa3 or higher by Moody’s.

 

“IRS”:
the U.S. Internal Revenue Service.

 

“Issuance Cap”:
with respect to the obligation of an Issuing Lender to issue or consider issuing any Letter of Credit pursuant to Section 3.1
or 3.2, the aggregate amount of outstanding L/C Obligations attributable to Letters of Credits issued by such Issuing Lender
(in its capacity as an Issuing Lender) as set forth on Schedule 1.1(G); provided, that Schedule 1.1(G) may
be modified from time to time to add any new Issuing Lender and its Issuance Cap thereto, to remove any Issuing Lender and its
Issuance Cap therefrom, or to increase or decrease the Issuance Cap of any Issuing Lender, in each case with the prior consent
of the Borrowers, the Administrative Agent and any such Issuing Lender being so added or removed or the Issuance Cap of which is
being so changed; provided, further, that the aggregate amount of outstanding L/C Obligations shall be subject to
Sections 3.3 and 6.2(e).

 

“ISP 98”:
as defined in Section 3.4(g).

 

“Issuing Lenders”:
collectively, the Acquisition Facility Issuing Lenders, the Dollar Working Capital Facility Committed Tranche Issuing Lenders,
the Dollar Working Capital Facility Uncommitted Tranche Issuing Lenders and the Multicurrency Working Capital Facility Issuing
Lenders; provided that there shall be no more than seven Issuing Lenders at any time unless otherwise agreed by the Administrative
Agent and notified to Lenders (it being understood that any financial institution may be an Acquisition Facility Issuing Lender,
a Dollar Working Capital Facility Issuing Lender and a Multicurrency Working Capital Facility Issuing Lender (or any combination
thereof) and shall for purposes of this proviso be considered one Issuing Lender).

 

“Junior Indebtedness”:
as defined in Section 8.9.

 

“Kildair”:
as defined in the introductory paragraph of this Agreement.

 

“Kildair Borrowing
Base”: on any date, solely with respect to the assets of the Kildair Loan Parties, an amount equal to:

 

(i)      
100% of Eligible Cash and Cash Equivalents; plus

 

(ii)      
90% of Eligible Tier 1 Accounts Receivable; plus

 

(iii)     
85% of Eligible Unbilled Tier 1 Accounts Receivable; plus

 

(iv)     
85% of Eligible Tier 2 Accounts Receivable; plus

 

(v)      
80% of Eligible Unbilled Tier 2 Accounts Receivable; plus

 

(vi)     
90% of Eligible Hedged Petroleum Inventory; plus

 

(vii)    
85% of Eligible Petroleum Inventory; plus

 

    	-65-	 

     

    

 

(viii)   
[reserved]; plus

 

(ix)      
[reserved]; plus

 

(x)       
[reserved]; plus

 

(xi)      
70% of Eligible Asphalt Inventory; plus

 

(xii)     
80% of Kildair Prepaid Purchases; plus

 

(xiii)    
90% of Eligible Net Liquidity in Futures Accounts; plus

 

(xiv)    
[reserved]; plus

 

(xv)     
80% of Eligible Short Term Unrealized Forward Gains; plus

 

(xvi)    
[reserved]; plus

 

(xvii)   
[reserved]; plus

 

(xviii)  
85% of Eligible Letters of Credit Issued for Commodities Not Yet Received; plus

 

(xix)    
100% of Paid But Unexpired Letters of Credit; plus

 

(xx)     
[reserved]; plus

 

(xxi)    
95% of Eligible L/C Backed Accounts Receivable; less

 

(1)         
Reserves taken at the reasonable discretion of the Administrative Agent; less

 

(2)         
100% of Product Taxes; less

 

(3)         
110% of any Swap Amounts due to Qualified Counterparties solely to the extent, and if, such Swap Amounts due to Qualified
Counterparties are in excess of $5,000,000; less

 

(4)         
100% of the Overcollateralization Amount.

 

Any amounts described
in categories (i) through (xxi) and (1) through (4) above which may fall into more than one of such categories shall
be counted only once under the category with the highest applicable advance rate percentage, when making the calculation under
this definition. In addition, any deductions made from the value of any asset included in the Kildair Borrowing Base in respect
of counterparty contra, offsets, counterclaims, unrealized forward losses and any other similar charges or claims shall be without
duplication. In calculating the Kildair Borrowing Base, the following adjustments shall be made:

 

(A)        
[reserved];

 

    	-66-	 

     

    

 

(B)        the value of that portion of the Kildair Borrowing Base described in clause (xv) shall not exceed, together with the
value of that portion of the U.S. Borrowing Base described in clauses (xv) through (xvii) thereof (1) in the aggregate (and
after giving effect to the sublimits set forth in clauses (B)(i)(2), (B)(i)(3) and (B)(ii) of the U.S. Borrowing Base), the
lesser of (a) 30% of the Aggregate Borrowing Base Amount then in effect and (b) $325,000,000, (2) $175,000,000 from Forward
Contracts relating to Petroleum Products, or (3) $165,000,000 from Forward Contracts relating to Natural Gas Products;

 

(C)         any
category of the Kildair Borrowing Base shall be calculated taking into account any elimination and reduction related to any potential
offset to such asset category;

 

(D)         the
Administrative Agent may, in its reasonable discretion, determine that one or more assets described in clauses (ii), (iii),
(iv), (v), (xv) or (xxi) does not meet the eligibility requirements for inclusion in the Kildair Borrowing Base, and any such
assets shall not be included in the Kildair Borrowing Base;

 

(E)          notwithstanding
anything herein to the contrary, no asset shall be eligible in whole or in part for inclusion in the Kildair Borrowing Base to
the extent such asset is in violation of the Risk Management Policy;

 

(F)          the
calculation of the value of the assets included in clauses (ii), (iii), (iv), (v), (xiii) and (xxi) with respect to a counterparty
shall be net of any Out of the Money Forward Contract Amount attributable to such counterparty (for purposes of this clause (F),
any reference to a counterparty shall include all Subsidiaries and Affiliates of such counterparty which affiliation is known
or should be known by the Loan Parties, except for a counterparty that holds itself out as an independent credit and separate
legal entity with respect to its Subsidiaries and Affiliates, together with such counterparty’s independent Subsidiaries
and Affiliates, and is listed on the Independent Entity Schedule); and

 

(G)         
the calculation of the value of the assets included in clauses (ii), (iii), (iv), (v), (xii) and (xv) and (xxi) (to
the extent that any of the following constitutes a defense to drawing on the letter of credit supporting the applicable Eligible
L/C Backed Account Receivable) that are attributable to a single counterparty shall be netted against any contra, offset, counterclaim,
unrealized forward losses or obligations of the Kildair Loan Parties with such counterparty including amounts payable to such counterparty
(for purposes of this clause (G), any reference to a counterparty shall include all Subsidiaries and Affiliates of such counterparty
which affiliation is known or should be known by the Loan Parties, except for a counterparty that holds itself out as an independent
credit and separate legal entity with respect to its Subsidiaries and Affiliates, together with such counterparty’s independent
Subsidiaries and Affiliates, and is listed on the Independent Entity Schedule).

 

    	-67-	 

     

    

 

The value of the Kildair
Borrowing Base at any time shall be the value of the Kildair Borrowing Base as of such date.

 

“Kildair Loan
Parties”: the Canadian Borrower and each Canadian Subsidiary of the Canadian Borrower that is a Loan Party.

 

“Kildair Prepaid
Purchases”: as of any date, Eligible Commodities (consisting of Petroleum Products) valued at the then current Value
purchased and prepaid by the Kildair Loan Parties from suppliers reasonably acceptable to the Administrative Agent in its sole
discretion, with respect to which (w) title shall not have passed to the any Loan Party, (x) such Eligible Commodities
shall not have been delivered to any Loan Party; provided that such products must be supported by an invoice from said supplier
(i) specifying the purpose of the applicable prepayment, and (ii) including a copy of the underlying purchase contract;
(y) with respect to prepayment by any Loan Party under any agreement or arrangement, not more than five (5) Business
Days shall have elapsed since such prepayment was made and (z) the Administrative Agent shall have a Perfected First Lien
in the right of such Loan Party to receive such Eligible Commodities (including that no provision of any agreement between such
supplier and such Loan Party shall prohibit the assignment of a security interest by such Loan Party to the Administrative Agent
in such Loan Party’s right to receive such Eligible Commodities).

 

“Laws”:
collectively, all international, foreign, Federal, state, provincial, territorial 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, licenses, authorizations and permits of, and agreements with, any Governmental Authority,
in each case whether or not having the force of law.

 

“L/C Fee Payment
Date”: (a) the fifth day after the first Business Day of each January, April, July and October (or, if such day
is not on a Business Day, the next succeeding Business Day) and (b) the expiration date of the last outstanding Post-Termination
LOC.

 

“L/C Obligations”:
at any time, an amount equal to the sum of (a) the Dollar Equivalent of the aggregate undrawn amount of the then-outstanding
Letters of Credit and (b) the Dollar Equivalent of the aggregate amount of drawings under Letters of Credit that have not
then been reimbursed or converted into a Loan pursuant to Section 3.7(b) or (c).

 

“L/C Participants”:
with respect to any Acquisition Facility Letter of Credit, the Acquisition Facility L/C Participants, with respect to any
Dollar Working Capital Facility Committed Tranche Letter of Credit, the Dollar Working Capital Facility Committed Tranche L/C Participants,
with respect to any Dollar Working Capital Facility Uncommitted Tranche Letter of Credit, the Dollar Working Capital Facility Uncommitted
Tranche L/C Participants and with respect to any Multicurrency Working Capital Facility Letter of Credit, the Multicurrency
Working Capital Facility L/C Participants.

 

    	-68-	 

     

    

 

“L/C Participation
Obligations”: at any time, the Acquisition Facility L/C Participation Obligations, the Dollar Working Capital Facility
Committed Tranche L/C Participation Obligations, the Dollar Working Capital Facility Uncommitted Tranche L/C Participation
Obligations and/or the Multicurrency Working Capital Facility L/C Participation Obligations at such time, as the context requires.

 

“L/C Reimbursement
Loan”: as defined in Section 3.7(c).

 

“Lead Arranger”:
MUFG.

 

“Lender Party”:
the Administrative Agent, each Lender, each Co-Documentation Agent, each Co-Collateral Agent and each Co-Syndication Agent.

 

“Lenders”:
as defined in the introductory paragraph to this Agreement and, as the context requires, includes, the Issuing Lenders and the
Swing Line Lenders.

 

“Letter of Credit”:
any Acquisition Facility Letter of Credit and any Working Capital Facility Letter of Credit.

 

“Letter of Credit
Request”: a request by a Borrower for a new Letter of Credit or an amendment to an existing Letter of Credit, in each
case pursuant to Section 3.3, which request for a new Letter of Credit shall be in form reasonably satisfactory to
the relevant Issuing Lender and the Administrative Agent and which request for an amendment to an existing Letter of Credit shall
be in form reasonably satisfactory to the relevant Issuing Lender and the Administrative Agent.

 

“LIBOR Screen
Rate”: as defined in the definition of Eurocurrency Base Rate.

 

“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 Financing Lease having substantially the same economic effect as
any of the foregoing), and the filing of any financing statement under the Uniform Commercial Code, PPSA or comparable Law of any
jurisdiction in order to perfect any of the foregoing; provided that “Lien” shall refer to neither (a) any
interest or title of a lessor under any leases or subleases (other than Financing Leases) entered into by the Loan Parties in the
ordinary course of business nor (b) licenses, sub-licenses, leases or sub-leases (other than Financing Leases) granted to
third parties in the ordinary course of business consistent with past practices.

 

“Loan”:
any loan made pursuant to this Agreement.

 

“Loan Documents”:
(i) this Agreement, the Notes, any Letter of Credit Requests, the Perfection Certificate, the Guarantee, the Security Documents
and the Successor Agent Documents and (ii) any document or agreement entered into with a Loan Party that, in accordance with its
terms, is a Loan Document.

 

    	-69-	 

     

    

 

“Loan Parties”:
collectively, each Borrower, the MLP and each Subsidiary Guarantor.

 

“Long Tenor
Letter of Credit”: any Trade Letter of Credit that is a Working Capital Facility Letter of Credit that is issued to support
the purchase of Eligible Commodities that is (a) initially issued with a maximum tenor of more than ninety (90) days but less
than one (1) year or (b) an Auto-Renewal Letter of Credit.

 

“Maine Dock
Liability Obligations”: indebtedness of the U.S. Borrower with respect to the State of Maine Port Authority dock liability
in an aggregate principal amount of $9,280,594 as of September 30, 2014 (which amount may be reduced (but not increased) from
time to time).

 

“Majority Facility
Lenders”: at any time, (a) with respect to the Acquisition Facility, Lenders having Acquisition Facility Credit
Exposure Percentages which aggregate more than 50%; provided, that the Acquisition Facility Credit Exposure of any Defaulting
Lender shall be excluded from the calculation of Acquisition Facility Credit Exposure Percentages in determining the Majority Facility
Lenders, (b) with respect to the Dollar Working Capital Facility Committed Tranche, Lenders having Dollar Working Capital
Facility Committed Tranche Credit Exposure Percentages which aggregate more than 50%; provided, that the Dollar Working
Capital Facility Committed Tranche Credit Exposure of any Defaulting Lender shall be excluded from the calculation of Dollar Working
Capital Facility Committed Tranche Credit Exposure Percentages in determining the Majority Facility Lenders, (c) with respect
to the Dollar Working Capital Facility Uncommitted Tranche, Lenders having Adjusted Dollar Working Capital Facility Uncommitted
Tranche Credit Exposure Percentages which aggregate more than 50%; provided, that the Dollar Working Capital Facility Uncommitted
Tranche Credit Exposure of any Defaulting Lender shall be excluded from the calculation of Dollar Working Capital Facility Uncommitted
Tranche Credit Exposure Percentages in determining the Majority Facility Lenders and (d) with respect to the Multicurrency
Working Capital Facility, Lenders having Multicurrency Working Capital Facility Credit Exposure Percentages which aggregate more
than 50%; provided, that the Multicurrency Working Capital Facility Credit Exposure of any Defaulting Lender shall be excluded
from the calculation of Multicurrency Working Capital Facility Credit Exposure Percentages in determining the Majority Facility
Lenders.

 

“Marked-to-Market
Report”: a comprehensive marked-to-market report, in form and substance reasonably similar to Exhibit R,
of the Product purchase and sale positions identified in the related Position Report of, as applicable, either (i) all Loan
Parties (other than the Canadian Borrower and its Subsidiaries) or (ii) only the Canadian Borrower and its Subsidiaries. Such
report shall include all positions for all future time periods and cover all instruments that create either an obligation to purchase
or sell Product or that generate price exposure and shall include unrealized marked-to-market margin for the position considered.
The positions shall include, but not be limited to, positions under Physical Commodity Contracts for spot purchase and sale of
Eligible Commodities, Forward Contracts, exchanges, Commodity OTC Agreements, Financial Hedging Agreements and Futures Contracts.
The report shall exclude positions in carbon credits, wood pellets and any other energy products approved by the Required Lenders
as “Product” pursuant to Section 5.21 after the Restatement Effective Date, in each case, to the extent
that the Loan Parties’ positions in any such energy product are not material.

 

    	-70-	 

     

    

 

“Marked-to-Market
Value”: with respect to any Commodity Contract of any Person on any date:

 

(a)              
in the case of a Commodity Contract for the purchase, sale, transfer or exchange of any physical Eligible Commodities, the
unrealized gain or loss on such Commodity Contract, determined by comparing (i) the amount to be paid or received under such
Commodity Contract for such Eligible Commodities pursuant to the terms thereof to (ii) the Value of such Eligible Commodities
on such date, and

 

(b)              
in the case of any other Commodity Contract, the unrealized gain or loss on such Commodity Contract determined by calculating
the amount to be paid or received under such other Commodity Contract pursuant to the terms thereof as if the cash settlement of
such other Commodity Contract were to be calculated on such date of determination by reference to the Value of the Eligible Commodities
that are the subject of such other Commodity Contract;

 

provided, that (i) in the case
of any Commodity Contract that is, in whole or in part, an option by its terms, the amount so calculated shall reflect industry
standard valuation models approved by the Administrative Agent and (ii) the Marked-to-Market Value of any Commodity Contract
for the storage or transportation of any physical Eligible Commodity shall be limited to its intrinsic value and shall take into
account any demand charges associated with such Commodity Contract.

 

“Market Value”:
with respect to an Eligible Commodity or Eligible RIN on any date, the price at which such Eligible Commodity or Eligible RIN could
be purchased or sold for delivery on that date or during the applicable period adjusted to reflect the specifications thereof and
the location and transportation differential, determined by using prices (a) on the New York Mercantile Exchange, the COMEX,
the London Metal Exchange, the New York Board of Trade, the International Petroleum Exchange, the Intercontinental Commodities
Exchange, the Chicago Board of Trade, the Chicago Mercantile Exchange or, if a price for any such Eligible Commodity or Eligible
RIN (or, in each case, delivery period or location) is not available on such exchanges, such other markets or exchanges recognized
as such in the commodities trading industry, including over-the-counter markets and private quotations, or as published in an independent
industry recognized source, in each case reasonably selected by the U.S. Borrower, (b) if such a price for any such Eligible
Commodity or Eligible RIN is not available in any market or exchange described in clause (a) above, any other exchange or
market reasonably selected by the U.S. Borrower and reasonably satisfactory to the Administrative Agent on such date or (c) if
such a price for any such Eligible Commodity or Eligible RIN is not available in any market or exchange described in clause (a)
or (b) above, such other value determined pursuant to methodology reasonably selected by the U.S. Borrower and reasonably satisfactory
to the Administrative Agent. With respect to any Eligible Commodity consisting of tank bottoms consisting of distillates, gasolines
or other light oil products or residual fuel oils acceptable to the Administrative Agent in its sole discretion (exercised in good
faith), the Market Value thereof shall be 50% of the value as determined by the immediately preceding sentence.

 

“Material Acquisition”:
any Acquisition by a Loan Party permitted hereunder with an aggregate purchase price that is payable in anything other than Capital
Stock of the MLP in an amount in excess of $30,000,000.

 

    	-71-	 

     

    

 

“Material Adverse
Effect”: a development or an event that has resulted in a material adverse change in (a) the operations, business,
assets, properties or condition (financial or other condition) of the MLP and its Subsidiaries taken as a whole, (b) the ability
of the Loan Parties, taken as a whole, to perform their obligations under this Agreement or any of the other Loan Documents, or
(c) the legality, validity, binding effect or enforceability 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.

 

“Materials Handling
Contract”: any fee-based contractual arrangement entered into by any Loan Party whereby such Loan Party performs business
services relating to materials handling or through-put for a third party.

 

“Materials of
Environmental Concern”: any gasoline, natural gas, petroleum and any other solid, liquid or gas hydrocarbon (including,
without limitation, crude oil or any fraction or derivative thereof) or any hydrocarbon-based products (including, without limitation,
any petroleum products) or any other pollutant, contaminant, hazardous or toxic substances, materials or wastes, defined or regulated
as such in or under, or which form the basis of liability under, any Environmental Law or Environmental Permit, including asbestos,
polychlorinated biphenyls and urea-formaldehyde insulation, medical waste, radioactive materials and electromagnetic fields.

 

“Maturity Date”:
the Acquisition Facility Maturity Date, the Dollar Working Capital Facility Committed Tranche Maturity Date, the Dollar Working
Capital Facility Uncommitted Tranche Maturity Date and/or the Multicurrency Working Capital Facility Maturity Date, as the context
requires.

 

“Maximum Consolidated
Total Leverage Ratio”: 4.50:1.0; provided that upon the consummation of a Material Acquisition, the Maximum Consolidated
Total Leverage Ratio shall be 5.00:1.0 for three consecutive fiscal quarters beginning with the fiscal quarter ending immediately
after consummation of such Material Acquisition (or the fiscal quarter ending upon consummation of such Material Acquisition, in
the event such consummation occurs on a fiscal quarter end).

 

“Minimum Consolidated
Fixed Charge Coverage Ratio”: 1.20:1.0.

 

“Minimum Consolidated
Net Working Capital Amount”: $35,000,000.

 

“MLP”:
Sprague Resources LP, together with, for the avoidance of doubt, following the effectiveness of the Approved Organizational Changes,
any successor-in-interest thereto.

 

“MLP Operational
Document”: (a) prior to the effectiveness of the Approved Organizational Changes, that certain First Amended and Restated
Agreement of Limited Partnership of Sprague Resources LP, dated October 30, 2013, by and among the General Partner and the limited
partners from time to time parties thereto, as amended by that certain Amendment No. 1 to the First Amended and Restated Agreement
of Limited Partnership, effective December 20, 2017, and that certain Amendment No. 2 to the First Amended and Restated Agreement
of Limited Partnership, effective October 25, 2019 and (b) after the effectiveness of the Approved Organizational Changes, the
limited liability company agreement of the successor-in-interest to the MLP, provided that such limited liability company agreement
is in form and substance acceptable to the Administrative Agent in its reasonable discretion.

 

    	-72-	 

     

    

 

“Moody’s”:
Moody’s Investors Service, Inc., or any successor to its rating agency business.

 

“Mortgage and
Security Agreement”: (i) each Quebec Security Document with respect to Mortgaged Properties located in the Province
of Quebec covering the Mortgaged Properties owned on the Restatement Effective Date, (ii) each Mortgage Security Agreement,
Assignment of Leases and Rents and Fixture Filings or other similar documents covering the Mortgaged Properties located in the
United States owned on the Restatement Effective Date and (iii) each Mortgage, Security Agreement, Assignment of Leases and
Rents and Fixture Filing (and such other instrument as required by the applicable province of Canada), substantially in the form
of Exhibit L (in the case of real property located in the United States), substantially in the form of the Quebec Security
Documents (in the case of real or immovable property located in the Province of Quebec) or in such form as reasonably acceptable
to the Administrative Agent (in the case of real property located in Canada (other than in the Province of Quebec)), with respect
to each Mortgaged Property acquired after the Restatement Effective Date located in the United States or Canada, respectively,
and, in each case, any Successor Agent Document in respect of any of the foregoing.

 

“Mortgaged Properties”:
each property listed on Schedule 1.1(E) and any other properties as to which the Administrative Agent, for the ratable
benefit of the Secured Parties, has after the Restatement Effective Date been granted a Lien pursuant to one or more Mortgage and
Security Agreements.

 

“Multicurrency
L/C Exposure”: at any time, the total L/C Obligations with respect to Multicurrency Working Capital Facility
Letters of Credit. The Multicurrency L/C Exposure of any Multicurrency Working Capital Facility Lender at any time shall be
its Multicurrency Working Capital Facility Commitment Percentage of the total Multicurrency L/C Exposure at such time.

 

“Multicurrency
Long Tenor Letter of Credit Sub-Limit”: $25,000,000 at any time outstanding.

 

“Multicurrency
Performance Letter of Credit Sub-Limit”: $5,000,000 at any time outstanding.

 

“Multicurrency
Swing Line Exposure”: at any time, the sum of the aggregate amount of all outstanding Multicurrency Swing Line Loans
at such time. The Multicurrency Swing Line Exposure of any Multicurrency Working Capital Facility Lender at any time shall be the
sum of (a) its Multicurrency Working Capital Facility Commitment Percentage of the total Multicurrency Swing Line Exposure
at such time related to Multicurrency Swing Line Loans other than any Multicurrency Swing Line Loans made by such Lender in its
capacity as a Multicurrency Swing Line Lender and (b) if such Lender shall be a Multicurrency Swing Line Lender, the principal
amount of all Multicurrency Swing Line Loans made by such Lender outstanding at such time (to the extent that the other Multicurrency
Working Capital Facility Lenders shall not have funded their participations in such Swing Line Loans).

 

    	-73-	 

     

    

 

“Multicurrency
Swing Line Lenders”: MUFG Bank, Ltd., Canada Branch, Wells Fargo Bank, N.A. and each other Multicurrency Working Capital
Facility Lender from time to time designated by the U.S. Borrower (and agreed to by such Lender) as a Multicurrency Swing Line
Lender with the prior consent of the Administrative Agent (such consent not to be unreasonably withheld, conditioned or delayed)
(and upon such designation and agreement, each such Lender shall set forth its Swing Line Cap on Schedule 1.1(H) pursuant
to the terms of this Agreement), in each case in its capacity as lender of Multicurrency Swing Line Loans hereunder.

 

“Multicurrency
Swing Line Loan Sub-Limit”: $20,000,000 at any time outstanding.

 

“Multicurrency
Swing Line Loans”: as defined in Section 2.3(b).

 

“Multicurrency
Swing Line Participation Amount”: as defined in Section 2.6(b)(ii).

 

“Multicurrency
Working Capital Facility”: the Multicurrency Working Capital Facility Commitments and the extensions of credit thereunder.

 

“Multicurrency
Working Capital Facility Commitment”: at any date, as to any Multicurrency Working Capital Facility Lender, the obligation
of such Multicurrency Working Capital Facility Lender to make Multicurrency Working Capital Facility Loans to the Borrowers pursuant
to Section 2.1(b) and to participate in Multicurrency Swing Line Loans and Multicurrency Working Capital Facility Letters
of Credit in an aggregate principal and/or face amount at any one time outstanding not to exceed the amount set forth opposite
such Multicurrency Working Capital Facility Lender’s name on Schedule 1.0 under the caption “Multicurrency
Working Capital Facility Commitment” or, as the case may be, in the Assignment and Acceptance pursuant to which such Multicurrency
Working Capital Facility Lender becomes a party hereto, as such amount may be changed from time to time in accordance with the
terms of this Agreement. As of the Restatement Effective Date, the original aggregate amount of the Multicurrency Working Capital
Facility Commitments is $85,000,000.

 

“Multicurrency
Working Capital Facility Commitment Percentage”: as to any Multicurrency Working Capital Facility Lender at any time,
the percentage which such Multicurrency Working Capital Facility Lender’s Multicurrency Working Capital Facility Commitment
then constitutes of the aggregate Multicurrency Working Capital Facility Commitments of all Multicurrency Working Capital Facility
Lenders at such time (or, at any time after the Multicurrency Working Capital Facility Commitments shall have expired or terminated,
such Multicurrency Working Capital Facility Lenders’ Multicurrency Working Capital Facility Credit Exposure Percentage).

 

“Multicurrency
Working Capital Facility Commitment Period”: the period from and including the Restatement Effective Date to but not
including the Multicurrency Working Capital Facility Commitment Termination Date or such earlier date on which all of the Multicurrency
Working Capital Facility Commitments shall terminate as provided herein.

 

“Multicurrency
Working Capital Facility Commitment Termination Date”: May 19, 2022, or, if such date is not a Business Day, the next
preceding Business Day.

 

    	-74-	 

     

    

 

“Multicurrency
Working Capital Facility Credit Exposure”: as to any Multicurrency Working Capital Facility Lender at any time, the Available
Multicurrency Working Capital Facility Commitment of such Multicurrency Working Capital Facility Lender plus the Dollar
Equivalent of the amount of the Multicurrency Working Capital Facility Extensions of Credit of such Multicurrency Working Capital
Facility Lender.

 

“Multicurrency
Working Capital Facility Credit Exposure Percentage”: as to any Multicurrency Working Capital Facility Lender at any
time, the fraction (expressed as a percentage), the numerator of which is the Multicurrency Working Capital Facility Credit Exposure
of such Multicurrency Working Capital Facility Lender at such time and the denominator of which is the aggregate Multicurrency
Working Capital Facility Credit Exposures of all of the Multicurrency Working Capital Facility Lenders at such time.

 

“Multicurrency
Working Capital Facility Extensions of Credit”: at any date, as to any Multicurrency Working Capital Facility Lender
at any time, the aggregate outstanding principal amount of Multicurrency Working Capital Facility Loans made by such Multicurrency
Working Capital Facility Lender, plus the amount of the undivided interest of such Multicurrency Working Capital Facility
Lender in any then-outstanding Multicurrency Working Capital Facility L/C Obligations, plus such Multicurrency Working
Capital Facility Lender’s Multicurrency Swing Line Exposure.

 

“Multicurrency
Working Capital Facility Increase”: as defined in Section 4.1(b).

 

“Multicurrency
Working Capital Facility Issuing Lenders”: MUFG, BNP Paribas, acting through its Canada branch, Wells Fargo Bank, N.A.,
Coöperatieve Rabobank U.A., New York Branch and each other Multicurrency Working Capital Facility Lender from time to time
designated by the U.S. Borrower (and agreed to by such Lender) as a Multicurrency Working Capital Facility Issuing Lender with
the prior consent of the Administrative Agent (such consent not to be unreasonably withheld, conditioned or delayed) (and upon
such designation and agreement, each such Lender shall set forth its Issuance Cap on Schedule 1.1(G) pursuant to the terms
of this Agreement), each in its capacity as issuer of any Multicurrency Working Capital Facility Letter of Credit.

 

“Multicurrency
Working Capital Facility L/C Obligations”: at any time, an amount equal to the sum of (a) the Dollar Equivalent
of the aggregate then undrawn and unexpired amount of the then outstanding Multicurrency Working Capital Facility Letters of Credit
and (b) the Dollar Equivalent of the aggregate amount of drawings under Multicurrency Working Capital Facility Letters of
Credit which have not then been reimbursed or converted to a Multicurrency Working Capital Facility Loan pursuant to Section 3.7.

 

“Multicurrency
Working Capital Facility L/C Participants”: with respect to any Multicurrency Working Capital Facility Letter of
Credit, all of the Multicurrency Working Capital Facility Lenders other than the Multicurrency Working Capital Facility Issuing
Lender thereof.

 

“Multicurrency
Working Capital Facility L/C Participation Obligations”: the obligations of the Multicurrency Working Capital Facility
L/C Participants to purchase participations in the obligations of the Multicurrency Working Capital Facility Issuing Lenders
under outstanding Multicurrency Working Capital Facility Letters of Credit pursuant to Section 3.6.

 

    	-75-	 

     

    

 

“Multicurrency
Working Capital Facility Lender”: each Lender having a Multicurrency Working Capital Facility Commitment (or, after the
termination of the Multicurrency Working Capital Facility Commitments, each Lender holding Multicurrency Working Capital Facility
Extensions of Credit), and, as the context requires, includes the Multicurrency Working Capital Facility Issuing Lenders. As of
the Restatement Effective Date, each Multicurrency Working Capital Facility Lender is specified on Schedule 1.0.

 

“Multicurrency
Working Capital Facility Letter of Credit”: as defined in Section 3.1.

 

“Multicurrency
Working Capital Facility Letter of Credit Sub-Limit”: $50,000,000 at any time outstanding.

 

“Multicurrency
Working Capital Facility Loans”: as defined in Section 2.1(b).

 

“Multicurrency
Working Capital Facility Long Tenor Letters of Credit”: Multicurrency Working Capital Facility Letters of Credit that
are Long Tenor Letters of Credit.

 

“Multicurrency
Working Capital Facility Maturity Date”: with respect to any Multicurrency Working Capital Facility Loan, the earliest
to occur of (i) the date on which the Multicurrency Working Capital Facility Loans become due and payable pursuant to Section 9,
(ii) the date on which the Multicurrency Working Capital Facility Commitments terminate pursuant to Section 4.1
and (iii) the Multicurrency Working Capital Facility Commitment Termination Date.

 

“Multicurrency
Working Capital Facility Performance Letters of Credit”: Multicurrency Working Capital Facility Letters of Credit that
are Performance Letters of Credit.

 

“Multiemployer
Plan”: a Plan which is a “multiemployer plan” as defined in Section 4001(a)(3) of ERISA and which is
subject to Title IV of ERISA.

 

“Natural Gas
Products”: natural gas and natural gas liquids and any other product or by-product of any of the foregoing, and all rights
to transmit, transport or store any of the foregoing.

 

“Natural Gas
Transactions”: those certain transactions entered into by a Loan Party in the ordinary course of business with one or
more natural gas utilities (each, a “Subject Utility” and, collectively, the “Subject Utilities”)
pursuant to which the applicable Loan Party will sell to a Subject Utility, and the applicable Subject Utility will purchase from
such Loan Party, certain accounts receivable owing to such Loan Party from its natural gas customers (such receivables are hereinafter
referred to as the “Subject Natural Gas Receivables”) and, in connection therewith, the applicable Subject Utility
will be responsible for all billing and collection duties and credit and other risks associated with such Subject Natural Gas Receivables.

 

    	-76-	 

     

    

 

“net after-Tax
basis”: with respect to any payment to be received by a Person from the Borrowers pursuant to Section 4.10
(a “Section 4.10 Payment”) or pursuant to Section 11.6 in respect of an Indemnified Liability (a
 “Section 11.6 Payment”), the amount of such Section 4.10 Payment or Section 11.6 Payment
plus a further payment or payments so that the net amount received by such Person, after all Taxes imposed on such Person
with respect to such amounts (net of any actual current reduction in Taxes payable by such Person as a result of the costs or expenses
for which such Person receives a Section 4.10 Payment or Section 11.6 Payment) is equal to the original
payment required to be received pursuant to Section 4.10 or Section 11.6, respectively. For avoidance of
doubt, if a Lender incurs a cost of $100 for which the Borrowers pay the Lender $100 pursuant to Section 11.6, and
the cost gives rise to a tax deduction that reduces such Person’s Taxes by $35, and the payment increases such Person’s
Taxes by $35, then the net after-Tax basis payment shall be $100 because the increase in Tax of $35 with respect to the Indemnified
Liability is offset by the reduction in Taxes of $35 that arises from the cost. However, if the cost was not deductible and the
payment increased such Person’s Taxes by $35, then the net-after Tax basis payment would be at least $135.

 

“Net Cash Proceeds”:
with respect to any Disposition of any Property or assets by any Person or any Recovery Event with respect to any asset of any
Person, the aggregate amount of cash received from time to time by or on behalf of such Person for its own account in connection
with any such transaction, after deducting therefrom (a) brokerage commissions, underwriting fees and discounts, legal fees,
finder’s fees and other similar fees, costs and commissions and reasonable related expenses that, in each case, are incurred
in connection with such event and are actually paid to or earned by a Person that is not a Subsidiary or Affiliate of any of the
Loan Parties or any of their Subsidiaries or Affiliates, (b) reasonable reserves for liabilities, indemnities, escrows and
purchase price adjustments in connection with any such Disposition or Recovery Event and (c) the amount of taxes payable by
such Person (or, in the case of a Person that is a disregarded entity for U.S. federal income tax purposes, by the owner of
such Person, in the case of a Person that is a partnership for U.S. federal income tax purposes, by the owners of such Person,
or in the case of a Person that is a member of a consolidated or unitary tax group, by such group, in each case, only to the extent
the payor of such taxes is the U.S. Borrower or a direct or indirect Subsidiary of the U.S. Borrower) in connection with or as
a result of such transaction that, in each case, are actually paid at the time of receipt of such cash to the applicable taxation
authority or other Governmental Authority or, so long as such Person is not otherwise indemnified therefor, are reserved for in
accordance with GAAP, as in effect at the time of receipt of such cash, based upon such Person’s reasonable estimate of such
taxes, and paid to the applicable taxation authority or other Governmental Authority within 16 months after the date of receipt
of such cash; provided that if, at the time any of the liabilities, indemnities, escrows or purchase price adjustments referred
to in clause (b) and/or taxes referred to in clause (c) are actually paid or otherwise satisfied, the reserve therefor
exceeds the amount paid or otherwise satisfied, then the amount of such excess reserve shall constitute “Net Cash Proceeds”
on and as of the date of such payment or other satisfaction for all purposes of this Agreement.

 

“Net Liquidation
Value”: with respect to any Commodity Account, the sum of (i) the aggregate marked-to-market value of all futures
positions, (ii) the aggregate liquidation value of all option positions, and (iii) the cash balance, in each case credited
to such Commodity Account.

 

    	-77-	 

     

    

 

“New Lenders”:
as defined in Section 4.1(b)(iii).

 

“Non-Defaulting
Lender”: at any time, each Lender that is not a Defaulting Lender at such time.

 

“Non-Excluded
Taxes”: as defined in Section 4.11(a).

 

“Non-Specified
Period”: the period of time beginning upon the conclusion of the Specified Period and ending once the Commitments and
the Dollar Working Capital Facility Uncommitted Tranche Portions have been terminated, the Loans and all other Obligations payable
under this Agreement or any other Loan Document have been paid in full (except indemnification obligations for which no claim has
been made and of which no Responsible Person of any Loan Party has knowledge and Hedging and Bank Product Obligations) and all
Letters of Credit have been terminated, expired, Cash Collateralized or otherwise dealt with to the satisfaction of the applicable
Issuing Lender.

 

“Non-Renewal
Notice Date”: as defined in Section 3.4(c).

 

“Non-U.S. Subsidiary”:
any Subsidiary that is not a U.S. Subsidiary.

 

“Note”
and “Notes”: as defined in Section 4.5(e).

 

“Notice of Prepayment”:
as defined in Section 4.6.

 

“NYFRB”:
the Federal Reserve Base Rate of New York.

 

“NYFRB Rate”:
for any day, the greater of (a) the Federal Funds Effective Rate in effect on such day and (b) the Overnight Bank Funding
Rate in effect on such day (or for any day that is not a Business Day, for the immediately preceding Business Day); provided
that if none of such rates are published for any day that is a Business Day, the term “NYFRB Rate” means the
rate for a federal funds transaction quoted at 11:00 a.m. on such day received by the Administrative Agent from a Federal
funds broker of recognized standing selected by it; provided, further, that if any of the aforesaid rates shall be
less than zero, such rate shall be deemed to be zero for purposes of this Agreement.

 

    	-78-	 

     

    

 

“Obligations”:
the unpaid principal amount of, and interest (including interest accruing after the maturity of the Loans and Reimbursement Obligations
and interest accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization, arrangement
or like proceeding, relating to any of the Loan Parties, whether or not a claim for post-filing or post-petition interest is allowed
in such proceeding) on the Loans and Reimbursement Obligations, and all other obligations and liabilities of any of the Loan Parties
to the Secured Parties and the Lenders, whether direct or indirect, absolute or contingent, due or to become due, or now existing
or hereafter incurred, which may arise under, or out of or in connection with this Agreement, the Notes, the Security Documents,
any other Loan Documents, any Letter of Credit, any Commodity OTC Agreement with a Qualified Counterparty, any Financial Hedging
Agreement with a Qualified Counterparty or any Cash Management Bank Agreement with a Qualified Cash Management Bank, or any other
document made, delivered or given in connection therewith or herewith, whether on account of principal, interest, reimbursement
obligations, fees, indemnities, costs, expenses (including all fees and disbursements of counsel to the Administrative Agent or
to the Lenders that are required to be paid by a Loan Party pursuant to the terms of the Loan Documents or other agreement or instrument
evidencing such obligations or liabilities) or otherwise; provided further, that for purposes of determining any Guarantee
Obligations of any Loan Party with respect to the Obligations, the definition of “Obligations” shall not create any
guarantee by any Loan Party of any Excluded Swap Obligations of such Loan Party; provided further that, (i) obligations
of any Loan Party under any Commodity OTC Agreement to a Qualified Counterparty, Financial Hedging Agreement to a Qualified Counterparty
or any Cash Management Bank Agreement to a Qualified Cash Management Bank (such obligations, the “Hedging and Bank Product
Obligations”), shall be secured pursuant to the Security Documents and guaranteed pursuant to the Guarantee only to the
extent that, and for so long as, those obligations and liabilities of the Loan Parties listed above not consisting of Hedging and
Bank Product Obligations (the “Other Obligations”) are so secured and guaranteed, unless the Other Obligations
cease to be so secured and guaranteed either (A) as a result of the Administrative Agent undertaking an Enforcement Action
(as defined in the U.S. Security Agreement or the Canadian Security Agreement, as applicable) or (B) following an Insolvency
Proceeding (as defined in the U.S. Security Agreement or the Canadian Security Agreement, as applicable) with respect to any Loan
Party, in which cases the Hedging and Bank Product Obligations shall continue to be secured pursuant to the Security Documents
and guaranteed pursuant to the Guarantee and (ii) any release of Collateral or the MLP or Subsidiary Guarantors effected in
the manner permitted by this Agreement shall not require the consent of holders of any Hedging and Bank Product Obligations. The
Hedging and Bank Product Obligations shall be subordinated to the Other Obligations pursuant to the terms of the U.S. Security
Agreement or Canadian Security Documents, as applicable. For the avoidance of doubt, for the purpose of any Mortgage, the “Obligations”
shall be deemed to be not fully paid or fully performed if, among other things and in addition to any other Obligations then outstanding,
any Letter of Credit remains outstanding hereunder that has not been Cash Collateralized.

 

“Operating Forecast”:
the monthly operating forecast of the income statement and balance sheet of the MLP and its consolidated Subsidiaries in form and
substance satisfactory to the Administrative Agent, as updated from time to time pursuant to Section 7.1(e).

 

“Original Closing
Date”: the date on which the conditions precedent set forth in Section 6.1 of the Original Credit Agreement
were satisfied, which date was October 30, 2013.

 

“Original Credit
Agreement”: that certain Credit Agreement, dated as of October 30, 2013, among the U.S. Borrower, the lenders and agents
party thereto, and JPMorgan Chase Bank, N.A., as administrative agent.

 

“Other Connection
Taxes”: with respect to any Lender or the Administrative Agent, Taxes imposed as a result of a present or former connection
between such Lender or the Administrative Agent and the jurisdiction imposing such Tax (other than connections arising solely from
such Lender or the Administrative Agent, as applicable, 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).

 

    	-79-	 

     

    

 

“Other Taxes”:
as defined in Section 4.11(b).

 

“Out of the
Money Forward Contract Amount”: as of any date and with respect to any Loan Party, to the extent that the Counterparty
Forward Contract Amount with respect to any Forward Contract Counterparty is negative, the absolute value of such Counterparty
Forward Contract Amount.

 

“Out of the
Money Swap Amount”: as of any date, to the extent that the Qualified Counterparty Swap Amount with respect to any Qualified
Counterparty is negative, the absolute value of such Qualified Counterparty Swap Amount.

 

“Overcollateralization
Amount”: with respect to any counterparty under a Commodity Contract of any Loan Party, the amount by which the cash
collateral deposited with or prepayments made to such Loan Party by such counterparty exceeds the amount of the obligations such
cash collateral was pledged to secure or with respect to which such prepayment was made.

 

“Overnight Bank
Funding Rate”: for any day, the rate comprised of both overnight federal funds and overnight eurodollar borrowings by
U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on
its public website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank funding
rate (from and after such date as the NYFRB shall commence to publish such composite rate).

 

“Paid but Unexpired
Letters of Credit”: as of any date, with respect to any Loan Party, the sum of (a) the amount of any payment made
by any Loan Party within 45 calendar days prior to such date to satisfy the obligation for which a Letter of Credit was issued
solely to the extent that such Letter of Credit has not been reduced, cancelled or drawn upon and (b) for any Trade Letter
of Credit with respect to which no amount can be drawn with respect to mark-to-market liability, an amount equal to 20%, times,
the lesser of (i) the then applicable undrawn portion of such Trade Letter of Credit and (ii) the operational tolerance
with respect to the underlying purchase contract with respect to which such Trade Letter of Credit was issued.

 

“Participant”
and “Participants”: as defined in Section 11.7(b).

 

“Participant
Register”: as defined in Section 11.7(b).

 

“Participation”:
as defined in Section 11.7(b).

 

“Payment Intangible”:
as defined in Section 9-102 of the UCC.

 

“PBGC”:
the Pension Benefit Guaranty Corporation established pursuant to Subtitle A of Title IV of ERISA.

 

“Perfected First
Lien”: any perfected, first priority Lien or security interest (or its substantial equivalent under applicable Laws)
granted by a Loan Party pursuant to a Security Document in favor of the Administrative Agent, for the ratable benefit of the Secured
Parties; provided that, in the case of inventory that is not located in the United States or contracts, Forward Contracts,
Accounts Receivable or Payment Intangibles not governed by Laws of the United States of America or any state or political subdivision
thereof, the validity and, if customarily available, priority of such Lien shall be confirmed by an opinion of special local counsel,
the form and substance of which shall be customary and reasonably satisfactory to the Administrative Agent; provided further
that no Lien or security interest (or its substantial equivalent under applicable Laws) granted by a Loan Party pursuant to a Security
Document shall constitute a Perfected First Lien unless it secures all Obligations, including U.S. Obligations.

 

    	-80-	 

     

    

 

“Perfection
Certificate”: the Perfection Certificate to be executed and delivered by the Loan Parties, substantially in the form
of Exhibit Q.

 

“Performance
Letter of Credit”: a standby Working Capital Facility Letter of Credit or a standby Acquisition Facility Letter of Credit,
in each case, issued to support bonding, swap transaction, performance, transportation and tariff requirements relating to Eligible
Commodities (other than the obligation to pay for the purchase of Eligible Commodities) that is (a) initially issued with a maximum
tenor of less than one (1) year or (b) an Auto-Renewal Letter of Credit.

 

“Permitted Borrowing
Base Liens”: (a) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s,
landlords’, or other similar Liens arising in the ordinary course of business which are not overdue for a period of more
than 60 days or which are being contested in good faith by appropriate proceedings or which have been bonded over or otherwise
adequately secured against, (b) Permitted Cash Management Liens, (c) Liens created pursuant to the Security Documents
and the other Loan Documents (provided, that such permitted Liens shall not include any Liens purported to be granted to
any commodity intermediary on assets other than assets credited to a Controlled Account maintained with such commodity intermediary
or such Controlled Account as a result of the incorporation by reference of a separate security agreement), (d) First Purchaser
Liens, (e) inchoate tax Liens, (f) Liens arising from unauthorized UCC or PPSA financing statements or applications for
registration of a hypothec under the Register of Personal and Movable Real Rights (Quebec) under the Civil Code of Quebec, (g) Prior
Claims that are unregistered and that secure amounts that are not yet due and payable and (h) netting and other offset rights
granted by any Loan Party to counterparties under Commodity Contracts and Financial Hedging Agreements on or with respect to payment
and other obligations owed by such Loan Party to such counterparties.

 

“Permitted Cash
Management Liens”: (a) Liens with respect to (i) all amounts due to the Cash Management Bank, in respect of
customary fees and expenses for the routine maintenance and operation of any Cash Management Account, (ii) the face amount
of any checks which have been credited to any Cash Management Account, but are subsequently returned unpaid because of uncollected
or insufficient funds, or (iii) other returned items or mistakes made in crediting such Cash Management Account, (b) any
other Liens permitted under the Account Control Agreement for a Cash Management Account, (c) Liens created by the Security
Documents and the other Loan Documents, (d) inchoate tax Liens, (e) Liens arising from unauthorized UCC or PPSA financing
statements or applications for registration of a hypothec under the Register of Personal and Movable Real Rights (Quebec) under
the Civil Code of Quebec, (f) any Overcollateralization Amounts and (g) Liens on currency, Cash Equivalents, commodities
or Commodities Contracts of the Loan Parties deposited in, or credited to, any Controlled Account that are subject to an Account
Control Agreement; provided that, such Liens are specifically permitted by such Account Control Agreement or arise by operation
of law.

 

    	-81-	 

     

    

 

“Permitted Investors”:Antonia
A. Johnson, together with her spouse, children, grandchildren and heirs (and any trust of which any of the foregoing (or any
combination thereof) constitute at least 80% of the then current beneficiaries).

 

“Permitted Refinancing
Indebtedness”: as defined in Section 8.2(d).

 

“Person”:
an individual, partnership, corporation, unlimited liability company, limited liability company, business trust, joint stock company,
trust, unincorporated association, joint venture, Governmental Authority or other entity of whatever nature.

 

“Petition Date”:
as defined in the definition of “Eligible Account Receivable” in this Section 1.1.

 

“Petroleum Products”:
crude oil and refined petroleum products (including heating oil, heavy oil, fuel oil, light oil, diesel, gasoline, kerosene, jet
fuel, marine gas oil and propane) and any other product or by-product of either of the foregoing, residual fuels, biodiesel, biofuels
and ethanol and all rights to transmit, transport or store any of the foregoing.

 

“Physical Commodity
Contract”: a contract for the purchase, sale, transfer or exchange of any physical Eligible Commodity.

 

“Plan”:
at a particular time, any employee benefit plan which is covered by ERISA and in respect of which any of the Loan Parties 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 or to which any Loan Party or Commonly Controlled Entity
has any actual or contingent liability.

 

“Platform”:
as defined in Section 11.2.

 

“Pledge Agreements”:
collectively, the Canadian Pledge Agreement and the U.S. Pledge Agreement.

 

“Pledged Accounts”:
all Commodity Accounts, Deposit Accounts (other than Excluded Accounts) and Securities Accounts of any Grantor.

 

“Pledged Collateral”:
the “Pledged Collateral” as defined in the U.S. Pledge Agreement or the Canadian Pledge Agreement, as applicable.

 

“Position Report”:
a position report in form and substance substantially similar to Exhibit M of either the U.S. Borrower or the Canadian
Borrower, as applicable, which shows in detail the calculations supporting, as applicable (i) the U.S. Borrower’s certification
of the compliance by the Loan Parties (other than the Canadian Borrower and its Subsidiaries) with the position limits in the Risk
Management Policy that are applicable to such Loan Parties and (ii) the Canadian Borrower’s certification of the compliance
by the Canadian Borrower and its Subsidiaries with the position limits in the Risk Management Policy that are applicable to the
Canadian Borrower and its Subsidiaries.

 

    	-82-	 

     

    

 

“Post-Termination
LOC”: as defined in Section 3.6(c).

 

“PPSA”:
the Personal Property Security Act (Ontario), including the regulations thereto, provided that, if perfection or the effect
of perfection or non-perfection or the priority of any Lien created hereunder on the Collateral is governed by the personal property
security legislation or other applicable legislation with respect to personal property security in effect in a jurisdiction other
than Ontario, “PPSA” means the Personal Property Security Act, including the regulations thereto, or such other applicable
legislation in effect from time to time in such other jurisdiction for purposes of the provisions hereof relating to such perfection,
effect of perfection or non-perfection or priority.

 

“Previous Credit
Agreement”: that certain Credit Agreement, dated as of May 28, 2010, as amended pursuant to (i) the First Amendment
to Credit Agreement, dated as of March 22, 2011, (ii) the Second Amendment, dated as of September 27, 2012 and (iii) the
Third Amendment, dated as of May 15, 2013, and as otherwise amended, supplemented, waived or modified prior to the Original
Closing Date.

 

“Prime Rate”:
for any day, the rate per annum equal to the greater of (a) the rate equal to the PRIMCAN Index rate (rounded upward,
if necessary, to the next 1/16 of 1.00%) that appears on the Bloomberg screen at 10:15 a.m. Toronto time on such date (or,
in the event that the PRIMCAN Index is not published by Bloomberg, any other information service that publishes such index from
time to time, as selected by the Administrative Agent in its reasonable discretion) and (b) the one-month Eurocurrency Rate
in effect on such day for Loans denominated in Canadian Dollars plus 1.00%; provided, that if any of the above rates
shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. Any change in the Prime Rate due
to a change in the PRIMCAN Index or the Eurocurrency Rate shall be effective as of the opening of business on the day such change
in the PRIMCAN Index or Eurocurrency Rate becomes effective, respectively.

 

“Prime Rate
Loan”: Loans the rate of interest of which is based upon the Prime Rate.

 

“Prior Claims”:
all Liens created by applicable law (in contrast with Liens voluntarily granted) or interests similar thereto under applicable
law which rank or are capable of ranking prior or pari passu with the Liens created by the Security Documents including
for amounts owing for, or in respect of, employee source deductions, non-resident withholding taxes, vacation pay, goods and services
taxes, sales taxes, harmonized sales taxes, municipal taxes, workers’ compensation, Quebec corporate taxes, pension fund
obligations and overdue rents.

 

“Product”:
as defined in Section 5.21(a).

 

“Product Taxes”:
any amounts which are due and owing to any Governmental Authority, including excise or sales taxes, applicable to services provided
under any Materials Handling Contract or the sale of Eligible Commodities, to the extent such amounts are collected or collectable
by any Loan Party from such Loan Party’s customer to be remitted to such Governmental Authority.

 

    	-83-	 

     

    

 

“Pro Forma Basis”:
with respect to the covenants set forth in Section 8.1 on any date of determination, the calculation of such covenants
as at such date of determination; provided that the amount of Consolidated EBITDA and Consolidated Fixed Charges in any
such calculation shall be the amount of Consolidated EBITDA and Consolidated Fixed Charges for the most recently ended four (4)
fiscal quarter period.

 

“Projections”:
as defined in Section 6.1(r).

 

“Properties”:
as defined in Section 5.22(a).

 

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

 

“Public Lender”:
as defined in Section 11.2.

 

“Qualified Cash
Management Bank”: any Cash Management Bank that, at the time a Cash Management Bank Agreement was entered into between
a Loan Party and such Cash Management Bank, was (i) a Lender (or an Affiliate thereof) or (ii) if such Cash Management
Bank Agreement was entered into prior to the Restatement Effective Date, was a lender under the Previous Credit Agreement, the
Original Credit Agreement or the Existing Credit Agreement at the time.

 

“Qualified Counterparty”:
any counterparty to any Financial Hedging Agreement or Commodity OTC Agreement entered into between a Loan Party and a Person that,
(i) at the time such Financial Hedging Agreement or Commodity OTC Agreement was entered into, was a Lender or (ii) if
such Financial Hedging Agreement or Commodity OTC Agreement was entered into prior to the Restatement Effective Date, was a lender
under the Previous Credit Agreement, the Original Agreement or the Existing Credit Agreement at the time such Financial Hedging
Agreement or Commodity OTC Agreement was entered into; provided, that, with respect to either clause (i) or clause (ii),
such counterparty (other than any counterparty that is the Administrative Agent) shall be a “Qualified Counterparty”
with respect to any Financial Hedging Agreement or Commodity OTC Agreement solely to the extent such counterparty has delivered
a Hedging Agreement Qualification Notification to the Administrative Agent.

 

“Qualified Counterparty
Swap Amount”: with respect to any Qualified Counterparty, an amount equal to (a) the aggregate unrealized gains
to each relevant Loan Party, based upon such Loan Party’s reasonable calculation of such amount in accordance with industry
standard valuation models, under all Commodity OTC Agreements and Financial Hedging Agreements between such Qualified Counterparty
and such Loan Party minus (b) the aggregate unrealized losses to such Loan Party, based upon such Loan Party’s
reasonable calculation of such amount in accordance with industry standard valuation models, under all Commodity OTC Agreements
and Financial Hedging Agreements between such Qualified Counterparty and such Loan Party.

 

    	-84-	 

     

    

 

“Qualified ECP
Guarantor”: in respect of any Swap Obligation, each Loan Party that has total assets exceeding $10,000,000 at the time
the relevant Guarantee or grant of the relevant security interest becomes effective with respect to such Swap Obligation or such
other person as constitutes an “eligible contract participant” under the Commodity Exchange Act or any regulations
promulgated thereunder and can cause another person to qualify as an “eligible contract participant” at such time by
entering into a keepwell under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

 

“Quebec Security
Documents”: one or more deeds of hypothec to secure payment of debentures (which hypothec shall include, without limitation,
a charge on the universality of immovable property) or the Obligations and any other related documents, bonds, debentures or pledge
agreements required to perfect a Lien in favor of the Administrative Agent in the Province of Quebec previously executed pursuant
to the Existing Credit Agreement and assigned to the Administrative Agent or to be executed from time to time by any Loan Party
organized under the laws of the Province of Quebec or having its chief executive office (or domicile) located in the Province of
Quebec or having tangible assets located in the Province of Quebec.

 

“Quebec STA”:
An Act respecting the transfer of securities and the establishment of security entitlements, R.S.Q. c. T-11.002, as
amended from time to time.

 

“Quotation Day”:
with respect to any Eurocurrency Loan for any Interest Period, (i) if the currency is United States Dollars, two Business
Days prior to the commencement of such Interest Period and (ii) if the currency is Canadian Dollars, at approximately 10:15
a.m., Toronto time, on the first day of such Interest Period; provided that if such day is not a Business Day, then on the
immediately preceding Business Day.

 

“Reconciliation
Summary”: with respect to the annual and monthly consolidated financial statements (other than the statements of cash
flow and owners’ equity) delivered pursuant to Section 7.1, (i) a schedule showing the elimination of transactions
between any Loan Party and any Subsidiary of a Loan Party that is not itself a Loan Party and transactions between any Loan Party
and any Affiliate of a Loan Party (other than any Subsidiary of a Loan Party), (ii) a statement showing the adjustments made
to report such financial statements on an Economic Basis plus or minus any Allowed Reserve, as applicable, and (iii) a
statement showing the adjustments made to such financial statements with respect to any Allowed Reserve.

 

“Recovery Event”:
any settlement of or payment in respect of any Property or casualty insurance claim or any condemnation proceeding relating to
any asset of any Loan Party resulting in Net Cash Proceeds to the applicable Loan Party in excess of $5,000,000.

 

“Refunded Dollar
Committed Tranche Swing Line Loan”: any Refunded Swing Line Loan made in respect of a Dollar Committed Tranche Swing
Line Loan.

 

“Refunded Dollar
Uncommitted Tranche Swing Line Loan”: any Refunded Swing Line Loan made in respect of a Dollar Uncommitted Tranche Swing
Line Loan.

 

“Refunded Multicurrency
Swing Line Loan”: any Refunded Swing Line Loan made in respect of a Multicurrency Swing Line Loan.

 

    	-85-	 

     

    

 

“Refunded Swing
Line Loan”: as defined in Section 2.6(a).

 

“Register”:
as defined in Section 11.7(d).

 

“Regulation U”:
Regulation U of the Board.

 

“Reimbursement
Date”: as defined in Section 3.7(b).

 

“Reimbursement
Obligations”: the obligation of the Borrowers to reimburse any Issuing Lender, pursuant to Section 3.7(a)
for Unreimbursed Amounts.

 

“Reinvestment
Deferred Amount”: with respect to any Reinvestment Event, the aggregate Net Cash Proceeds received by any Loan Party
in connection therewith which are not applied to prepay outstanding Loans pursuant to Section 4.7(c) as a result of
the delivery of a Reinvestment Notice.

 

“Reinvestment
Event”: any Asset Sale or Recovery Event in respect of which the U.S. Borrower has delivered a Reinvestment Notice.

 

“Reinvestment
Notice”: a written notice executed by a Responsible Person of the U.S. Borrower stating that no Event of Default has
occurred and is continuing and that the relevant Loan Party either (i) intends and expects to use all or a specified portion
of the Net Cash Proceeds of an Asset Sale or Recovery Event to acquire assets (directly or through the purchase of the Capital
Stock of a Person pursuant to an Acquisition or otherwise) to replace, repair or upgrade the assets subject to such Asset Sale
or Recovery Event, or (ii) in the case of a Recovery Event, has replaced, repaired or upgraded the asset subject to such Recovery
Event prior to such Person’s receipt of the Net Cash Proceeds thereof and the amount expended therefor.

 

“Reinvestment
Prepayment Amount”: with respect to any Reinvestment Event, the Reinvestment Deferred Amount relating thereto less any
amount expended prior to the relevant Reinvestment Prepayment Date to acquire assets (directly or through the purchase of the Capital
Stock of a Person pursuant to an Acquisition or otherwise) to replace, repair or upgrade the assets subject to such Reinvestment
Event (including, in the case of a Recovery Event, amounts expended to replace, repair or upgrade the asset subject to such Recovery
Event prior to the receipt by the relevant Loan Party of the Net Cash Proceeds thereof).

 

“Reinvestment
Prepayment Date”: with respect to any Reinvestment Event, the earlier of (a) the date occurring 12 months after
such Reinvestment Event and (b) the date on which the applicable Loan Party shall have determined not to, or shall have otherwise
ceased to, acquire assets (directly or through the purchase of the Capital Stock of a Person pursuant to an Acquisition or otherwise)
to replace, repair or upgrade the assets subject to such Reinvestment Event with all or any portion of the relevant Reinvestment
Deferred Amount.

 

“Related Person”:
with respect to any Person, each officer, employee, director, trustee, agent, advisor, affiliate, partner and controlling person
of such Person.

 

“Release”:
any release, threatened release, addition, spill, emission, leaking, pumping, pouring, emitting, emptying, escape, injection, deposit,
disposal, discharge, dispersal, dumping, leaching or migration of Material of Environmental Concern into or through the environment.

 

    	-86-	 

     

    

 

“Relevant Facility
Lender”: with respect to any Acquisition Facility Loan, an Acquisition Facility Lender, with respect to any Dollar Working
Capital Facility Committed Tranche Loan, a Dollar Working Capital Facility Committed Tranche Lender, with respect to any Dollar
Working Capital Facility Uncommitted Tranche Loan, a Dollar Working Capital Facility Uncommitted Tranche Lender and with respect
to any Multicurrency Working Capital Facility Loan, a Multicurrency Working Capital Facility Lender.

 

“Relevant Facility
Loan”: with respect to any L/C Reimbursement Loan related to an Acquisition Facility Letter of Credit, an Acquisition
Facility Loan, with respect to any L/C Reimbursement Loan related to a Dollar Working Capital Facility Committed Tranche Letter
of Credit, a Dollar Working Capital Facility Committed Tranche Loan, with respect to any L/C Reimbursement Loan related to
a Dollar Working Capital Facility Uncommitted Tranche Letter of Credit, a Dollar Working Capital Facility Uncommitted Tranche Loan
and with respect to any L/C Reimbursement Loan related to a Multicurrency Working Capital Facility Letter of Credit, a Multicurrency
Working Capital Facility Loan.

 

“Relevant Governmental
Body”: with respect to any Benchmark, (a) the central bank for the currency applicable to such Benchmark or any central
bank or other supervisor that is responsible for supervising either (i) such Benchmark or (ii) the administrator of such Benchmark
or (b) any working group or committee officially endorsed or convened by (i) the central bank for the currency applicable to such
Benchmark, (ii) any central bank or other supervisor that is responsible for supervising either (A) such Benchmark or (B) the administrator
of such Benchmark, (iii) a group of those central banks or other supervisors or (iv) the Financial Stability Board or any part
thereof.

 

“Relevant L/C Participant”:
with respect to an Acquisition Facility Letter of Credit, an Acquisition Facility L/C Participant, with respect to a Dollar
Working Capital Facility Committed Tranche Letter of Credit, a Dollar Working Capital Facility Committed Tranche L/C Participant,
with respect to a Dollar Working Capital Facility Uncommitted Tranche Letter of Credit, a Dollar Working Capital Facility Uncommitted
Tranche L/C Participant and with respect to a Multicurrency Working Capital Facility Letter of Credit, a Multicurrency Working
Capital Facility L/C Participant.

 

“Relevant Letter
of Credit”: with respect to an Acquisition Facility Issuing Lender, an Acquisition Facility Letter of Credit, with respect
to a Dollar Working Capital Facility Committed Tranche Issuing Lender, a Dollar Working Capital Facility Committed Tranche Letter
of Credit, with respect to a Dollar Working Capital Facility Uncommitted Tranche Issuing Lender, a Dollar Working Capital Facility
Uncommitted Tranche Letter of Credit and with respect to a Multicurrency Working Capital Facility Issuing Lender, a Multicurrency
Working Capital Facility Letter of Credit.

 

“Relevant Swing
Line Lenders”: with respect to the Dollar Working Capital Facility Committed Tranche, the Dollar Committed Tranche Swing
Line Lenders, with respect to the Dollar Working Capital Facility Uncommitted Tranche, the Dollar Uncommitted Tranche Swing Line
Lenders and with respect to the Multicurrency Working Capital Facility, the Multicurrency Working Capital Facility Swing Line Lenders.

 

    	-87-	 

     

    

 

“Relevant Working
Capital Facility Issuing Lenders”: with respect to the Dollar Working Capital Facility Committed Tranche, the Dollar
Working Capital Facility Committed Tranche Issuing Lenders, with respect to the Dollar Working Capital Facility Uncommitted Tranche,
the Dollar Working Capital Facility Uncommitted Tranche Issuing Lenders and with respect to the Multicurrency Working Capital
Facility, the Multicurrency Working Capital Facility Issuing Lenders.

 

“Renewal Notice
Date”: as defined in Section 3.4(c).

 

“Replacement
Facility”: as defined in Section 4.21(a).

 

“Replacement
Facility Amendment”: as defined in Section 4.21(c).

 

“Replacement
Facility Closing Date”: as defined in Section 4.21(c).

 

“Replacement
Facility Lender”: as defined in Section 4.21(c).

 

“Reportable
Event”: any of the events set forth in Section 4043(c) of ERISA, other than those events as to which the thirty (30)
day notice period is waived under PBGC Reg. § 4043.

 

“Representatives”:
as defined in Section 11.16.

 

“Requested Increase
Amount”: as defined in Section 4.1(b)(i).

 

“Requested Increase
Effective Date”: as defined in Section 4.1(b)(i).

 

“Required Committed
Lenders”: at any time, Lenders, the Committed Facilities Credit Exposure Percentages of which aggregate more than 50%;
provided, that the Committed Facilities Credit Exposure of any Defaulting Lender shall be excluded from the calculation
of Committed Facilities Credit Exposure Percentages in determining the Required Committed Lenders.

 

“Required Dollar
Working Capital Facility Uncommitted Tranche Lenders”: at any time, Lenders under the Dollar Working Capital Facility
Uncommitted Tranche, the Dollar Working Capital Facility Uncommitted Tranche Credit Exposure Percentages of which aggregate more
than 50%; provided, that the Dollar Working Capital Facility Uncommitted Tranche Credit Exposure of any Defaulting Lender
shall be excluded from the calculation of Dollar Working Capital Facility Uncommitted Tranche Credit Exposure Percentages in determining
the Required Dollar Working Capital Facility Uncommitted Tranche Lenders.

 

“Required Lenders”:
at any time, Lenders, the Credit Exposure Percentages of which aggregate more than 50%; provided, that the Credit Exposure
of any Defaulting Lender shall be excluded from the calculation of Credit Exposure Percentages in determining the Required Lenders.

 

    	-88-	 

     

    

 

“Requirement
of Law”: as to any Person, any Law 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.

 

“Reserves”:
individually and collectively, and without duplication, reserves in respect of inventory that is subject to the rights of suppliers
under Section 81.1 of the Bankruptcy and Insolvency Act (Canada), reserves in respect of Prior Claims, any Wage Earner Protection
Act Reserve and any other reserves that the Administrative Agent deems necessary in its reasonable discretion to maintain with
respect to the Collateral or any Loan Party.

 

“Reset Date”:
as defined in Section 2.7(a).

 

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

 

“Responsible
Person”: (i) with respect to the U.S. Borrower or any Subsidiary, the chief executive officer, president, chairman,
chief operating officer, chief accounting officer, chief financial officer, chief risk officer, chief compliance officer, senior
vice-president, executive vice-president, vice-president of finance, controller, treasurer or assistant treasurer of the U.S. Borrower
or such Subsidiary, as applicable, or any additional natural person notified to the Administrative Agent in an officer’s
certificate signed by one or more then existing Responsible Persons of the MLP and that contains a specimen signature of such additional
natural person; provided that, with respect to any Borrowing Base Report, “Responsible Person” shall include
any vice president responsible for the oversight of the trading and financial operations of the U.S. Borrower or such Subsidiary,
as applicable, or any additional natural person notified to the Administrative Agent in an officer’s certificate signed by
one or more then existing Responsible Persons of the MLP and that contains a specimen signature of such additional natural person;
and (ii) with respect to the MLP, the chief executive officer, president, chairman, chief operating officer, chief accounting
officer, chief financial officer, chief risk officer, chief compliance officer, senior vice-president, executive vice-president,
vice-president of finance, controller, treasurer or assistant treasurer or any additional natural person notified to the Administrative
Agent in an officer’s certificate signed by one or more then existing Responsible Persons of the MLP and that contains a
specimen signature of such additional natural person.

 

“Restatement
Effective Date”: the date on which the conditions precedent set forth in Sections 6.1 and 6.2 shall
be satisfied or waived, which date is May 19, 2020.

 

“Restricted
Payments”: as defined in Section 8.5.

 

“RIN”:
any renewable identification number associated with the United States government-mandated renewable fuel standards.

 

“Risk Management
Policy”: the risk management policy of the Loan Parties applicable to the funding activities of the Loan Parties as approved
by the board of directors of the General Partner (or, after the effectiveness of the Approved Organizational Changes, the board
of directors of the MLP) and as in effect as of the Restatement Effective Date, and as the same may be modified in accordance with
Section 7.10.

 

    	-89-	 

     

    

 

“Sanctioned
Country”: at any time, a country or territory which is itself the subject or target of any Sanctions.

 

“Sanctioned
Person”: at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by the
Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State or by the United
Nations Security Council, the European Union, any EU member state, Canada or the United Kingdom, (b) any Person operating,
organized or resident in a Sanctioned Country or (c) any Person owned or controlled by any such Person or Persons.

 

“Sanctions”:
economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government,
including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department
of State, (b) the Canadian government or (c) the United Nations Security Council, the European Union or Her Majesty’s
Treasury of the United Kingdom.

 

“Screen Rate”:
the LIBOR Screen Rate and/or the CDOR Screen Rate, as the context may require.

 

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

 

“SEC Filings”:
as defined in Section 7.1.

 

“Section 4.11
Certificate”: as defined in Section 4.11(e).

 

“Secured Parties”:
collectively, the Administrative Agent, the Lenders (including any Issuing Lender in its capacity as Issuing Lender and any Swing
Line Lender in its capacity as Swing Line Lender), any Qualified Cash Management Bank, any Qualified Counterparty and, in each
instance, their respective successors and permitted assigns.

 

“Securities
Account”: any “Securities Account” as defined in Section 8-501 of the UCC, any “securities
account” as defined under the PPSA and any “securities account” as defined in the Quebec STA.

 

“Security Agreements”:
the collective reference to the U.S. Security Agreement, the Canadian Security Agreement and the Quebec Security Documents.

 

“Security Documents”:
the collective reference to each Account Control Agreement, the Security Agreements, the Pledge Agreements, each Mortgage and Security
Agreement, the Canadian Omnibus Amendment Agreement, the U.S. Omnibus Amendment Agreement and each other security document hereafter
delivered to the Administrative Agent guaranteeing payment of, or granting a Lien on any asset or assets of any Person to secure
any of the Obligations or to secure any guarantee of any such Obligations, and, in each case, any Successor Agent Document in respect
of any of the foregoing.

 

“Semi-Monthly
Reporting Date”: the fifteenth (15th) day and the last day of each month.

 

    	-90-	 

     

    

 

“Single Employer
Plan”: any Plan which is subject to Title IV of ERISA, but which is not a Multiemployer Plan.

 

“S&P”:
Standard and Poor’s Financial Services LLC, or any successor to its rating agency business.

 

“SOFR”:
with respect to any day, the secured overnight financing rate published for such day by the Federal Reserve Bank of New York, as
the administrator of the benchmark, (or a successor administrator) on the Federal Reserve Bank of New York’s Website.

 

“Specified Laws”:
(i) Trading with the Enemy Act, and each of the foreign assets control regulations of the United States Treasury Department
(31 C.F.R., Subtitle B, Chapter V) and any other enabling legislation or executive order relating thereto, (ii) the
USA PATRIOT Act and (iii) CAML.

 

“Specified Period”:
the period beginning on the Restatement Effective Date through and including the date that is six months following the Restatement
Effective Date.

 

“Specified Time”:
(i) in relation to a Loan in United States Dollars, as of 11:00 a.m., London time and (ii) in relation to a Loan in Canadian
Dollars, as of 10:15 a.m. Toronto, Ontario time.

 

“Specified Transaction”:
as defined on Schedule 8.10.

 

“Sprague Resources
Canada”: Sprague Resources Canada ULC, an unlimited liability company formed under the laws of British Columbia.

 

“Subject Natural
Gas Receivables”: as defined in the definition of “Natural Gas Transactions” in this Section 1.1.

 

“Subject Utility”
or “Subject Utilities”: as defined in the definition of “Natural Gas Transactions” in this Section 1.1.

 

“Subsidiary”:
as to any Person, a corporation, partnership 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. Unless otherwise qualified, all references to a “Subsidiary” or to “Subsidiaries” in this
Agreement shall refer to a Subsidiary or Subsidiaries of the MLP. As of the Restatement Effective Date, the Subsidiaries of the
MLP are listed on Schedule 5.15.

 

“Subsidiary
Guarantors”: Subject to Section 11.5, Sprague Energy Solutions Inc., Sprague Connecticut Properties LLC,
Sprague Terminal Services LLC, Sprague Resources Finance Corp, Wintergreen, Sprague Resources Canada, Sprague Co-op Member LLC,
Sprague Natural Gas LLC, Sprague Energy LLC, the U.S. Borrower, the Canadian Borrower and Sprague Transport LLC and, after
the Restatement Effective Date, each other Person executing and delivering the Guarantee, or becoming a party to the Guarantee
as a guarantor (by supplement or otherwise), pursuant to this Agreement.

 

    	-91-	 

     

    

 

“Successor Agent
Agreement”: that certain Successor Agents Agreement and Master Assignment, dated as of the date hereof, by and among
JPMorgan Chase Bank, N.A., as existing administrative agent, JPMorgan Chase Bank, N.A., Toronto Branch, as existing Canadian agent,
JPMorgan Chase Bank, N.A. and BNP Paribas, as existing co-collateral agents, each existing lender or issuing lender party thereto
and the Administrative Agent, as successor Administrative Agent, successor Canadian agent and successor collateral agent.

 

“Successor Agent
Documents”: (i) the Successor Agent Agreement, (ii) each mortgage assignment and amendment agreement with respect to
each Existing Mortgaged Property, in form and substance reasonably satisfactory to the Administrative Agent, (iii) each Account
Control Agreement Amendment and Assignment, in form and substance reasonably satisfactory to the Administrative Agent, (iv) an
assignment agreement with respect to each Quebec Security Document that is currently in effect immediately prior to giving effect
to the Restatement Effective Date, in form and substance reasonably satisfactory to the Administrative Agent, and (v) each document
or agreement entered into with a Loan Party that, in accordance with its terms, is a Successor Agent Document.

 

“Supermajority
Lenders”: at any time, Lenders the Credit Exposure Percentages of which aggregate more than 66 2/3%; provided
that the Credit Exposure of any Defaulting Lender shall be excluded from the calculation of Credit Exposure Percentage in determining
Supermajority Lenders.

 

“Swap”:
any agreement, contract, or transaction that constitutes a “swap” within the meaning of Section 1a(47) of the
Commodity Exchange Act.

 

“Swap Amounts
due to Qualified Counterparties”: as of any date, the aggregate of all Out of the Money Swap Amounts.

 

“Swap Obligation”:
with respect to any Person, any obligation to pay or perform under any Swap.

 

“Swing Line
Cap”: with respect to the obligation of a Swing Line Lender to make or consider making any Swing Line Loan pursuant to
Section 2.3, the aggregate amount of the then outstanding Swing Line Loans made by such Swing Line Lender (in its capacity
as a Swing Line Lender) as set forth on Schedule 1.1(H); provided, that Schedule 1.1(H) may be modified from
time to time to add any new Swing Line Lender and its Swing Line Cap thereto, to remove any Swing Line Lender and its Swing Line
Cap therefrom, or to increase or decrease the Swing Line Cap of any Swing Line Lender, in each case with the prior consent of the
Borrowers, the Administrative Agent and any such Swing Line Lender being so added or removed or the Swing Line Cap of which is
being so changed; provided, further, that the aggregate amount of outstanding Swing Line Loans shall be subject to
Sections 2.5 and 6.2(e).

 

“Swing Line
Lenders”: the Dollar Committed Tranche Swing Line Lenders, the Dollar Uncommitted Tranche Swing Line Lenders and/or the
Multicurrency Swing Line Lenders, as the context requires.

 

    	-92-	 

     

    

 

“Swing Line
Loans”: the Dollar Committed Tranche Swing Line Loans, the Dollar Uncommitted Tranche Swing Line Loans and/or the Multicurrency
Swing Line Loans, as the context requires.

 

“Synthetic Lease”:
any lease of property, real or personal, the obligations of the lessee in respect of which are treated as an operating lease for
financial accounting purposes and a financing lease for U.S. income tax purposes, in accordance with GAAP.

 

“Taxes”:
as defined in Section 4.11(a).

 

“Term SOFR”:
the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body.

 

“Tier 1
Counterparty”: in relation to an Eligible Account Receivable or Eligible Unbilled Account Receivable, the counterparty
thereto to the extent that (a) such counterparty is Investment Grade or (b) such counterparty’s obligations with
respect thereto are supported by Acceptable Investment Grade Credit Enhancement.

 

“Tier 2
Counterparty”: in relation to an Eligible Account Receivable or Eligible Unbilled Account Receivable, the counterparty
thereto to the extent that it is not a Tier 1 Counterparty.

 

“Title Insurance
Company”: as defined in Section 6.1(o).

 

“Total Acquisition
Facility Acquisition Extensions of Credit”: an amount equal to the sum of (a) the aggregate unpaid principal amount
of Acquisition Facility Loans outstanding at such time, plus (b) the aggregate amount of Acquisition Facility L/C Obligations
outstanding at such time, that are, in each case, Acquisition Facility Acquisition Extensions of Credit.

 

“Total Acquisition
Facility Extensions of Credit”: an amount equal to the sum of (a) the aggregate unpaid principal amount of Acquisition
Facility Loans outstanding at such time, plus (b) the aggregate amount of Acquisition Facility L/C Obligations
outstanding at such time.

 

“Total Acquisition
Facility Working Capital Extensions of Credit”: an amount equal to the sum of (a) the aggregate unpaid principal
amount of Acquisition Facility Loans outstanding at such time, plus (b) the aggregate amount of Acquisition Facility
L/C Obligations outstanding at such time, that are, in each case, Acquisition Facility Working Capital Extensions of Credit.

 

“Total Dollar
Working Capital Facility Committed Tranche Extensions of Credit”: an amount equal to the sum of (a) the aggregate
unpaid principal amount of Dollar Working Capital Facility Committed Tranche Loans and Dollar Committed Tranche Swing Line Loans
outstanding at such time, plus (b) the aggregate amount of Dollar Working Capital Facility Committed Tranche L/C Obligations
outstanding at such time.

 

“Total Dollar
Working Capital Facility Uncommitted Tranche Extensions of Credit”: an amount equal to the sum of (a) the aggregate
unpaid principal amount of Dollar Working Capital Facility Uncommitted Tranche Loans and Dollar Uncommitted Tranche Swing Line
Loans outstanding at such time, plus (b) the aggregate amount of Dollar Working Capital Facility Uncommitted Tranche
L/C Obligations outstanding at such time.

 

    	-93-	 

     

    

 

“Total Dollar
Working Capital Facility Uncommitted Tranche Portions”: (i) initially, the aggregate amount of each Dollar Working Capital
Facility Uncommitted Tranche Lender’s Dollar Working Capital Facility Uncommitted Tranche Portion (as such Dollar Working
Capital Facility Uncommitted Tranche Portion may be increased from time to time pursuant to Section 4.1(b)) and (ii) from
and after the first Conversion to Approving Lenders Date, the aggregate amount of each Approving Lender’s Dollar Working
Capital Facility Uncommitted Tranche Portion as of the applicable date of determination. As of the Restatement Effective Date,
the Total Dollar Working Capital Facility Uncommitted Tranche Portions is $200,000,000.

 

“Total Extensions
of Credit”: at any time, the Total Dollar Working Capital Facility Committed Tranche Extensions of Credit, the Total
Dollar Working Capital Facility Uncommitted Tranche Extensions of Credit, the Total Multicurrency Working Capital Facility Extensions
of Credit or the Total Acquisition Facility Extensions of Credit at such time, as the context requires.

 

“Total Multicurrency
Working Capital Facility Extensions of Credit”: an amount equal to the Dollar Equivalent of the sum of (a) the aggregate
unpaid principal amount of Multicurrency Working Capital Facility Loans and Multicurrency Swing Line Loans outstanding at such
time, plus (b) the aggregate amount of Multicurrency Working Capital Facility L/C Obligations outstanding at such
time.

 

“Total Working
Capital Facility Extensions of Credit”: an amount equal to the sum of (a) the Total Dollar Working Capital Facility
Committed Tranche Extensions of Credit at such time plus (b) the Total Dollar Working Capital Facility Uncommitted
Tranche Extensions of Credit at such time plus (c) the Total Multicurrency Working Capital Facility Extensions of Credit
at such time.

 

“Trade Letter
of Credit”: a commercial or standby Letter of Credit supporting the purchase of Eligible Commodities giving rise to Eligible
Inventory and/or an Eligible Account Receivable no later than sixty (60) days following the date of issuance of such Letter
of Credit.

 

“Trading Business”:
with respect to each Lender, the day-to-day activities of such Lender or a division, Subsidiary or Affiliate of such Lender relating
to the proprietary purchase, sale, hedging and/or trading of commodities, including Eligible Commodities, and any related derivative
transactions.

 

“Tranche”:
Eurocurrency Loans of the same currency, the then-current Interest Periods of which all begin on the same date and end on the same
later date (whether or not such Eurocurrency Loans shall originally have been made on the same day).

 

“Transferee”:
as defined in Section 11.7(f).

 

“Type”:
as to any Loan, its nature as a Base Rate Loan, Prime Rate Loan or a Eurocurrency Loan.

 

    	-94-	 

     

    

 

“UCC”:
the Uniform Commercial Code as from time to time in effect in the State of New York or, as the context requires, any other applicable
jurisdiction.

 

“UCP 600”:
as defined in Section 3.4(g).

 

“UK Financial
Institution”: any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated
by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended
from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and
investment firms, and certain affiliates of such credit institutions or investment firms.

 

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

 

“Unadjusted
Benchmark Replacement”: with respect to a given Benchmark Replacement, such Benchmark Replacement excluding the applicable
Benchmark Replacement Adjustment for such Benchmark Replacement.

 

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

 

“Unreimbursed
Amount”: as defined in Section 3.7(a).

 

“U.S. Borrower”:
as defined in the introductory paragraph of this Agreement.

 

“U.S. Borrowing
Base”: on any date, solely with respect to the assets of the U.S. Loan Parties, an amount equal to:

 

(i)             100%
of Eligible Cash and Cash Equivalents; plus

 

(ii)            90%
of Eligible Tier 1 Accounts Receivable; plus

 

(iii)           85% of Eligible Unbilled Tier 1 Accounts Receivable; plus

 

(iv)           85%
of Eligible Tier 2 Accounts Receivable; plus

 

(v)            80%
of Eligible Unbilled Tier 2 Accounts Receivable; plus

 

(vi)           90% of Eligible Hedged Petroleum Inventory; plus

 

(vii)          85%
of Eligible Petroleum Inventory; plus

 

(viii)         90% of Eligible Hedged Natural Gas Inventory; plus

 

(ix)           85% of Eligible Natural Gas Inventory; plus

 

(x)            70%
of Eligible Coal Inventory; plus

 

    	-95-	 

     

    

 

(xi)           70% of Eligible Asphalt Inventory; plus

 

(xii)          80% of U.S. Prepaid Purchases; plus

 

(xiii)         90% of Eligible Net Liquidity in Futures Accounts; plus

 

(xiv)         85% of Eligible Exchange Receivables; plus

 

(xv)          80% of Eligible Short Term Unrealized Forward Gains; plus

 

(xvi)         70% of Eligible Medium Term Unrealized Forward Gains; plus

 

(xvii)        60% of Eligible Long Term Unrealized Forward Gains; plus

 

(xviii)       85% of Eligible Letters of Credit Issued for Commodities Not Yet Received; plus

 

(xix)         100% of Paid But Unexpired Letters of Credit; plus

 

(xx)          70% of Eligible RINs; plus

 

(xxi)         95% of Eligible L/C Backed Accounts Receivable; less

 

(1)             
100% of the First Purchaser Lien Amount; less

 

(2)             
100% of Product Taxes; less

 

(3)             
110% of any Swap Amounts due to Qualified Counterparties solely to the extent, and if, such Swap Amounts due to Qualified
Counterparties are in excess of $20,000,000; less

 

(4)             
100% of the Overcollateralization Amount.

 

Any amounts described
in categories (i) through (xxi) and (1) through (4) above which may fall into more than one of such categories shall
be counted only once under the category with the highest applicable advance rate percentage, when making the calculation under
this definition. In addition, any deductions made from the value of any asset included in the U.S. Borrowing Base in respect of
counterparty contra, offsets, counterclaims, unrealized forward losses and any other similar charges or claims shall be without
duplication. In calculating the U.S. Borrowing Base, the following adjustments shall be made:

 

(A)            
the value of Accounts Receivable to be included in clauses (ii) through (v) and (xxi) shall not exceed $15,000,000
for Accounts Receivables the Account Debtors of which are Eligible Foreign Counterparties;

 

    	-96-	 

     

    

 

(B)             
(i) the value of that portion of the U.S. Borrowing Base described in clauses (xv) through (xvii), together with
the value of that portion of the Kildair Borrowing Base described in clause (xv) thereof, shall not exceed (1) in the
aggregate (and after giving effect to the sublimits set forth in clause (i)(2), (i)(3) and (ii) below), the lesser of (a) 30%
of the Aggregate Borrowing Base Amount then in effect and (b) $325,000,000, (2) $175,000,000 from Forward Contracts relating
to Petroleum Products, or (3) $165,000,000 from Forward Contracts relating to Natural Gas Products and (ii) the value
of that portion of the U.S. Borrowing Base described in clause (xvii) shall not exceed $20,000,000;

 

(C)              any
category of the U.S. Borrowing Base shall be calculated taking into account any elimination and reduction related to any potential
offset to such asset category;

 

(D)              the
Administrative Agent may, in its reasonable discretion, determine that one or more assets described in clauses (ii), (iii),
(iv), (v), (xiv), (xv), (xvi), (xvii), (xx) or (xxi) does not meet the eligibility requirements for inclusion in the U.S. Borrowing
Base, and any such assets shall not be included in the U.S. Borrowing Base;

 

(E)               notwithstanding
anything herein to the contrary, no asset shall be eligible in whole or in part for inclusion in the U.S. Borrowing Base to the
extent such asset is in violation of the Risk Management Policy;

 

(F)               the calculation of the value of the assets included in clauses (ii), (iii), (iv), (v), (xiii) and (xxi) with respect
to a counterparty shall be net of any Out of the Money Forward Contract Amount attributable to such counterparty (for purposes
of this clause (F), any reference to a counterparty shall include all Subsidiaries and Affiliates of such counterparty which
affiliation is known or should be known by the Loan Parties, except for a counterparty that holds itself out as an independent
credit and separate legal entity with respect to its Subsidiaries and Affiliates, together with such counterparty’s independent
Subsidiaries and Affiliates, and is listed on the Independent Entity Schedule);

 

(G)              the calculation of the value of the assets included in clauses (ii), (iii), (iv), (v), (xii), (xiv), (xv), (xvi) and
(xvii) and (xxi) (to the extent that any of the following constitutes a defense to drawing on the letter of credit supporting the
applicable Eligible L/C Backed Account Receivable) that are attributable to a single counterparty shall be netted against any contra,
offset, counterclaim, unrealized forward losses or obligations of the U.S. Loan Parties with such counterparty including amounts
payable to such counterparty (for purposes of this clause (G), any reference to a counterparty shall include all Subsidiaries
and Affiliates of such counterparty which affiliation is known or should be known by the Loan Parties, except for a counterparty
that holds itself out as an independent credit and separate legal entity with respect to its Subsidiaries and Affiliates, together
with such counterparty’s independent Subsidiaries and Affiliates, and is listed on the Independent Entity Schedule); and

 

    	-97-	 

     

    

 

(H)              the value of that portion of the U.S. Borrowing Base described in clause (xx) shall not exceed $10,000,000.

 

The value of the U.S.
Borrowing Base at any time shall be the value of the U.S. Borrowing Base as of such date.

 

“U.S. Loan
Party”: any Loan Party organized under the laws of any jurisdiction within the United States (and excluding any Subsidiary
of Kildair).

 

“U.S. Obligations”:
any Obligations treated as Obligations of a U.S. Person for U.S. federal income tax purposes.

 

“U.S. Omnibus
Amendment Agreement”: the Omnibus Amendment Agreement, dated as of the Restatement Effective Date, by and among each
Loan Party party thereto and the Administrative Agent, which shall amend the U.S. Security Agreement, the U.S. Pledge Agreement,
the Guarantee and that certain Collateral Assignment of License, dated as of September 22, 2017 (as amended, restated, supplemented
or otherwise modified from time to time), made by the U.S. Borrower in favor of the Administrative Agent.

 

“U.S. Person”:
a “United States person” within the meaning of Section 7701(a)(30) of the Code.

 

“U.S. Pledge
Agreement”: the Amended and Restated U.S. Pledge Agreement, dated as of December 9, 2014, by (a) any Loan Party
organized under the laws of any jurisdiction within the United States and (b) any Loan Party pledging Capital Stock of any
Person organized under the laws of any jurisdiction within the United States, in favor of the Administrative Agent, as amended,
restated, supplemented or otherwise modified from time to time.

 

“U.S. Prepaid
Purchases”: as of any date, Eligible Commodities (consisting of Natural Gas Products and Petroleum Products) valued at
the then current Value purchased and prepaid by the U.S. Loan Parties from suppliers reasonably acceptable to the Administrative
Agent in its sole discretion, with respect to which (w) title shall not have passed to any Loan Party, (x) such Eligible
Commodities shall not have been delivered to any Loan Party; provided that such products must be supported by an invoice
from said supplier (i) specifying the purpose of the applicable prepayment, and (ii) including a copy of the underlying
purchase contract; (y) with respect to prepayment by any Loan Party under any other agreement or arrangement, not more than
five (5) Business Days shall have elapsed since such prepayment was made and (z) the Administrative Agent shall have
a Perfected First Lien in the right of such Loan Party to receive such Eligible Commodities (including that no provision of any
agreement between such supplier and such Loan Party shall prohibit the assignment of a security interest by such Loan Party to
the Administrative Agent in such Loan Party’s right to receive such Eligible Commodities).

 

“U.S. Security
Agreement”: the Amended and Restated U.S. Security Agreement, dated as of December 9, 2014, by the Loan Parties organized
under the laws of any jurisdiction within the United States, in favor of the Administrative Agent, as amended, restated, supplemented
or otherwise modified from time to time.

 

    	-98-	 

     

    

 

“U.S. Subsidiary”:
any Subsidiary of the MLP organized under the laws of any jurisdiction within the United States.

 

“USA PATRIOT
Act”: Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001 (the “Executive Order”),
the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001,
Public Law 107-56.

 

“Valuation Agent”:
Muse, Stancil & Co. or such other business valuation firm acceptable to the U.S. Borrower and the Administrative Agent.

 

“Value”:
with respect to any Eligible Commodity or Eligible RIN, the Market Value thereof.

 

“Wage Earner
Protection Act Reserve” on any date of determination, a reserve established from time to time by Administrative Agent
in such amount as Administrative Agent determines reflects the amounts that may become due under the Wage Earner Protection Program
Act (Canada) with respect to the employees of any Loan Party employed in Canada which would give rise to a Lien with priority under
applicable law over the Lien securing the Obligations.

 

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

 

“Wholly Owned
Subsidiary”: as to any Person, any other Person all of the Capital Stock of which (other than directors’ qualifying
shares required by law) is owned by such Person directly and/or through other Wholly Owned Subsidiaries.

 

“Wintergreen”:
Wintergreen Transport Corporation ULC, an unlimited liability company formed under the laws of British Columbia (being the
successor by way of amalgamation to Transit P.M. ULC and Wintergreen Transport Corporation ULC).

 

“Working Capital
Facility”: the Dollar Working Capital Facility Committed Tranche, the Dollar Working Capital Facility Uncommitted Tranche
and/or the Multicurrency Working Capital Facility, as the context requires.

 

“Working Capital
Facility Commitments”: the Dollar Working Capital Facility Commitments and/or the Multicurrency Working Capital Facility
Commitments, as the context requires.

 

“Working Capital
Facility Letter of Credit”: a Dollar Working Capital Facility Committed Tranche Letter of Credit, a Dollar Working Capital
Facility Uncommitted Tranche Letter of Credit and/or a Multicurrency Working Capital Facility Letter of Credit, as the context
requires.

 

    	-99-	 

     

    

 

“Working Capital
Facility Lender”: any Dollar Working Capital Facility Committed Tranche Lender, any Dollar Working Capital Facility Uncommitted
Tranche Lender and/or any Multicurrency Working Capital Facility Lender, as the context requires.

 

“Working Capital
Facility Loan”: a Dollar Working Capital Facility Committed Tranche Loan, a Dollar Working Capital Facility Uncommitted
Tranche Loan and/or a Multicurrency Working Capital Facility Loan, as the context requires.

 

“Working Capital
Facility Utilization”: with respect to the sum of the aggregate Dollar Working Capital Facility Commitments plus
the aggregate Dollar Working Capital Facility Uncommitted Tranche Portions plus the aggregate Multicurrency Working Capital
Facility Commitments, for any fiscal quarter, an amount (expressed as a percentage) equal to the quotient of (a) the quotient
of (i) the sum of the applicable Total Working Capital Facility Extensions of Credit outstanding as of the close of business
on each day during such fiscal quarter divided by (ii) the number of days in such fiscal quarter divided by
(b) the sum of the aggregate Dollar Working Capital Facility Commitments plus the aggregate Dollar Working Capital
Facility Uncommitted Tranche Portions plus the aggregate Multicurrency Working Capital Facility Commitments, in each case,
in effect on the last Business Day of such fiscal quarter.

 

“Write-Down
and Conversion Powers”: (a) with respect to any EEA Resolution Authority, the write-down and conversion powers of such
EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down
and conversion powers are described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, any powers
of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability
of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that
liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument
is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of
the powers under that Bail-In Legislation that are related to or ancillary to any of those powers.

 

1.2             
Other Definitional Provisions; Terms Generally. (a) Unless otherwise specified therein, all terms defined in this
Agreement shall have the defined meanings when used in any Notes or any other Loan Documents or any certificate or other document
made or delivered pursuant hereto or thereto.

 

(b)              
Except as provided for herein (including, for the avoidance of doubt, the proviso in the definition of “Financing
Lease”), as used herein and in any Notes, any other Loan Documents and any certificate or other document made or delivered
pursuant hereto or thereto, accounting terms relating to the MLP and its Subsidiaries not defined in Section 1.1 and
(subject to Section 1.2(c)) accounting terms partly defined in Section 1.1, to the extent not defined,
shall have the respective meanings given to them under GAAP (provided that all terms of an accounting or financial nature
used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made, without giving effect
to (i) any election under Accounting Standards Codification 825-10-25 (previously referred to as Statement of Financial Accounting
Standards 159) (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect)
to value any Indebtedness or other liabilities of the U.S. Borrower or any Subsidiary at “fair value”, as defined therein
and (ii) any treatment of Indebtedness in respect of convertible debt instruments under Accounting Standards Codification
470-20 (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value
any such Indebtedness in a reduced or bifurcated manner as described therein, and such Indebtedness shall at all times be valued
at the full stated principal amount thereof).

 

    	-100-	 

     

    

 

(c)              
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,
Exhibit and Annex references are to this Agreement unless otherwise specified.

 

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

 

(e)              
Unless otherwise expressly provided herein, (i) references to Governing Documents, agreements (including the Loan Documents)
and other contractual instruments shall be deemed to include all subsequent amendments, restatements, extensions, waivers, supplements
and other modifications thereto (including, without limitation, pursuant to the Canadian Omnibus Amendment Agreement and the U.S.
Omnibus Amendment Agreement) and (ii) references to any Law shall include all statutory and regulatory provisions consolidating,
amending, replacing, supplementing or interpreting such Law.

 

(f)               
As used herein and in any Notes, any other Loan Documents and any certificate or other document made or delivered pursuant
hereto or thereto, (i) the words “include”, “includes” and “including” shall be deemed
to be followed by the phrase “without limitation” and (ii) 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, Capital Stock, securities, revenues, accounts, leasehold interests and contract rights.

 

1.3             
Rounding. Any financial ratios required to be maintained by the U.S. Borrower and/or the Loan Parties pursuant to
this Agreement shall be calculated by dividing the appropriate component by the other component, carrying the result to one place
more than the number of places by which such ratio is expressed herein and rounding the result up or down to the nearest number
(with a rounding-up if there is no nearest number).

 

1.4             
Quebec Matters. For purposes of any assets, liabilities or entities located in the Province of Québec and
for all other purposes pursuant to which the interpretation or construction of this Agreement may be subject to the laws of the
Province of Québec or a court or tribunal exercising jurisdiction in the Province of Québec, (a) “personal
property” shall include “movable property”, (b) “real property” or “real estate”
shall include “immovable property”, (c) “tangible property” shall include “corporeal property”,
(d) “intangible property” shall include “incorporeal property”, (e) “security interest”,
 “mortgage” and “lien” shall include a “hypothec”, “right of retention”, “prior
claim” and a resolutory clause, (f) all references to filing, perfection, priority, remedies, registering or recording
under the UCC or a Personal Property Security Act shall include publication under the Civil Code of Québec, (g) all
references to “perfection” of or “perfected” liens or security interest shall include a reference to an
 “opposable” or “set up” lien or security interest as against third parties, (h) any “right of
offset”, “right of setoff” or similar expression shall include a “right of compensation”, (i) “goods”
shall include “corporeal movable property” other than chattel paper, documents of title, instruments, money and securities,
(j) an “agent” shall include a “mandatary”, (k) “construction liens” shall include
 “legal hypothecs”; (l) “joint and several” shall include “solidary”; (m) “gross
negligence or willful misconduct” shall be deemed to be “intentional or gross fault”; (n) “registered
ownership held for a beneficial owner” shall include “ownership on behalf of another as mandatary”; (o) “easement”
shall include “servitude”; (p) “priority” shall include “prior claim”; (q) “survey”
shall include “certificate of location and plan”; (r) “state” shall include “province”;
(s) “fee simple title” shall include “absolute ownership”; (t) “accounts” shall include
 “claims”.

 

    	-101-	 

     

    

 

1.5             
Divisions. Any reference herein to a merger, transfer, consolidation, amalgamation, 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 Person (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, or segregated series of a Person, shall constitute a separate Person hereunder
(and each division of any limited liability company or segregated series of a Person that is a Subsidiary, joint venture or any
other like term shall also constitute such a Person or entity).

 

1.6             
Interest Rates. The Administrative Agent does not warrant, nor accept responsibility, nor shall the Administrative
Agent have any liability with respect to (a) the administration of, submission of, calculation of or any other matter related to
the rates in the definition of “Eurocurrency Base Rate”, any component definition thereof or rates referenced in the
definition thereof or any alternative, comparable or successor rate thereto (including any then-current Benchmark or any Benchmark
Replacement), including whether the composition or characteristics of any such alternative, comparable or successor rate (including
any Benchmark Replacement) will be similar to, or produce the same value or economic equivalence of, any rate in the definition
of “Eurocurrency Base Rate”, or (b) the effect, implementation or composition of any Benchmark Replacement Conforming
Changes.

 

SECTION
2         AMOUNT
AND TERMS OF THE LOANS, COMMITMENTS and DOLLAR WORKING CAPITAL FACILITY UNCOMMITTED TRANCHE PORTIONS

 

2.1             
Working Capital Facility Loans. (a)  Subject to the terms and conditions hereof, each Dollar Working Capital
Facility Committed Tranche Lender severally shall make revolving credit loans under the Dollar Working Capital Facility Commitments
(the “Dollar Working Capital Facility Committed Tranche Loans”) to the Borrowers in an amount requested by the
applicable Borrower from time to time during the Dollar Working Capital Facility Commitment Period in an aggregate principal amount
at any one time outstanding which, when added to such Dollar Working Capital Facility Committed Tranche Lender’s then outstanding
Dollar Working Capital Facility Committed Tranche Extensions of Credit (after giving effect to any application of proceeds of such
Dollar Working Capital Facility Committed Tranche Loans pursuant to Section 2.6), does not exceed such Lender’s
Dollar Working Capital Facility Commitment at such time; provided that, after giving effect to any Dollar Working Capital
Facility Committed Tranche Loan requested by any Borrower, each of the conditions set forth in Section 6.2 shall be
satisfied or waived. Dollar Working Capital Facility Committed Tranche Loans may be denominated only in United States Dollars and
may from time to time be (i) Eurocurrency Loans, (ii) Base Rate Loans or (iii) a combination thereof, in each case,
as the applicable Borrower shall notify the Administrative Agent in accordance with Sections 2.5 and 4.3. No
Dollar Working Capital Facility Committed Tranche Loan shall be made as a Eurocurrency Loan after the day that is one (1) month
prior to the Dollar Working Capital Facility Commitment Termination Date.

 

    	-102-	 

     

    

 

(b)             
Subject to the terms and conditions hereof, each Dollar Working Capital Facility Uncommitted Tranche Lender severally shall,
on an UNCOMMITTED AND ABSOLUTELY DISCRETIONARY basis, consider making revolving credit loans under the Dollar Working Capital
Facility Uncommitted Tranche Portions (the “Dollar Working Capital Facility Uncommitted Tranche Loans”) to
the Borrowers in an amount requested by the applicable Borrower from time to time during the Dollar Working Capital Facility Uncommitted
Tranche Period in an aggregate principal amount at any one time outstanding which, when added to such Dollar Working Capital Facility
Uncommitted Tranche Lender’s then outstanding Dollar Working Capital Facility Uncommitted Tranche Extensions of Credit (after
giving effect to any application of proceeds of such Dollar Working Capital Facility Uncommitted Tranche Loans pursuant to Section 2.6),
does not exceed such Lender’s Dollar Working Capital Facility Uncommitted Tranche Portion at such time; provided
that, after giving effect to any Dollar Working Capital Facility Uncommitted Tranche Loan requested by any Borrower, each of the
conditions set forth in Section 6.2 shall be satisfied or waived. Dollar Working Capital Facility Uncommitted Tranche
Loans may be denominated only in United States Dollars and may from time to time be (i) Eurocurrency Loans, (ii) Base
Rate Loans or (iii) a combination thereof, in each case, as the applicable Borrower shall notify the Administrative Agent
in accordance with Sections 2.5 and 4.3. No Dollar Working Capital Facility Uncommitted Tranche Loan shall
be made as a Eurocurrency Loan after the day that is one (1) month prior to the Dollar Working Capital Facility Uncommitted Tranche
Termination Date. NO DOLLAR WORKING CAPITAL FACILITY UNCOMMITTED TRANCHE LENDER SHALL HAVE ANY COMMITMENT OR OBLIGATION TO MAKE
ANY DOLLAR WORKING CAPITAL FACILITY UNCOMMITTED TRANCHE LOAN HEREUNDER UNLESS AND UNTIL SUCH DOLLAR WORKING CAPITAL FACILITY UNCOMMITTED
TRANCHE LENDER AFFIRMATIVELY COMMITS OR IS DEEMED TO HAVE COMMITTED UNDER SECTION 2.5(d) TO SUCH REQUESTED FUNDING TRANSACTION.
NOTHING CONTAINED HEREIN SHALL OTHERWISE COMMIT OR OBLIGATE ANY DOLLAR WORKING CAPITAL FACILITY UNCOMMITTED TRANCHE LENDER, OR
BE INTERPRETED AS A PROMISE OR COMMITMENT BY ANY DOLLAR WORKING CAPITAL FACILITY UNCOMMITTED TRANCHE LENDER, TO MAKE OR ELECT
TO MAKE ANY SUCH DOLLAR WORKING CAPITAL FACILITY UNCOMMITTED TRANCHE LOAN UNLESS AND UNTIL SUCH DOLLAR WORKING CAPITAL FACILITY
UNCOMMITTED TRANCHE LENDER AFFIRMATIVELY COMMITS OR IS DEEMED TO HAVE COMMITTED UNDER SECTION 2.5(d) TO SUCH REQUESTED
FUNDING TRANSACTION.

 

    	-103-	 

     

    

 

(c)             
Subject to the terms and conditions hereof, each Multicurrency Working Capital Facility Lender severally shall make revolving
credit loans under the Multicurrency Working Capital Facility Commitments (the “Multicurrency Working Capital Facility
Loans”) to the Borrowers in an amount requested by the applicable Borrower from time to time during the Multicurrency
Working Capital Facility Commitment Period in an aggregate principal amount at any one time outstanding such that the Dollar Equivalent
of such Multicurrency Working Capital Facility Loan, when added to the Dollar Equivalent of such Multicurrency Working Capital
Facility Lender’s then outstanding Multicurrency Working Capital Facility Extensions of Credit (after giving effect to any
application of proceeds of such Multicurrency Working Capital Facility Loans pursuant to Section 2.6), does not exceed
such Lender’s Multicurrency Working Capital Facility Commitment at such time; provided that, after giving effect to
any Multicurrency Working Capital Facility Loan requested by any Borrower, each of the conditions set forth in Section 6.2
shall be satisfied or waived. Multicurrency Working Capital Facility Loans may be denominated in United States Dollars or Canadian
Dollars (as the applicable Borrower shall notify the Administrative Agent in accordance with Section 2.5) and may from
time to time be (x) with respect to Multicurrency Working Capital Facility Loans denominated in United States Dollars, (i) Eurocurrency
Loans, (ii) Base Rate Loans or (iii) a combination thereof and (y) with respect to Multicurrency Working Capital
Facility Loans denominated in Canadian Dollars, (i) Eurocurrency Loans, (ii) Prime Rate Loans or (iii) a combination
thereof, in each case, as the applicable Borrower shall notify the Administrative Agent in accordance with Sections 2.5
and 4.3. No Multicurrency Working Capital Facility Loan shall be made as a Eurocurrency Loan after the day that is one (1)
month prior to the Multicurrency Working Capital Facility Commitment Termination Date.

 

(d)             
During the Dollar Working Capital Facility Commitment Period, the Borrowers may borrow, prepay the Dollar Working Capital
Facility Committed Tranche Loans in whole or in part, and reborrow Dollar Working Capital Facility Committed Tranche Loans, all
in accordance with the terms and conditions hereof. During the Dollar Working Capital Facility Uncommitted Tranche Period, the
Borrowers may borrow, prepay the Dollar Working Capital Facility Uncommitted Tranche Loans in whole or in part, and reborrow Dollar
Working Capital Facility Uncommitted Tranche Loans, all in accordance with the terms and conditions hereof. During the Multicurrency
Working Capital Facility Commitment Period, the Borrowers may borrow, prepay the Multicurrency Working Capital Facility Loans in
whole or in part, and reborrow Multicurrency Working Capital Facility Loans, all in accordance with the terms and conditions hereof.

 

(e)              
Each Lender may, at its option, make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make
such Loan; provided that any exercise of such option shall not (i) affect in any manner the obligation of the Borrowers
to repay such Loan in accordance with the terms of this Agreement or (ii) result in adverse consequences to the Borrowers.

 

2.2             
[Reserved].

 

2.3             
Swing Line Loans. (a)  Subject to the terms and conditions hereof, the Dollar Committed Tranche Swing Line
Lenders shall make a portion of the credit under the Dollar Working Capital Facility Commitments available to the Borrowers by
making swing line loans (individually, a “Dollar Committed Tranche Swing Line Loan” and, collectively, the “Dollar
Committed Tranche Swing Line Loans”) to the applicable Borrower from time to time in United States Dollars during the
Dollar Working Capital Facility Commitment Period in an aggregate principal amount at any one time outstanding not to exceed the
Dollar Swing Line Loan Sub-Limit then in effect; provided that (i) the sum of (x) the Dollar Committed Tranche
Swing Line Exposure of such Swing Line Lender, (y) the aggregate principal amount of outstanding Dollar Working Capital Facility
Committed Tranche Loans made by such Swing Line Lender (in its capacity as a Dollar Working Capital Facility Committed Tranche
Lender) and (z) the Dollar Committed Tranche L/C Exposure of such Swing Line Lender (in its capacity as a Dollar Working
Capital Facility Committed Tranche Lender) may not exceed such Swing Line Lender’s Dollar Working Capital Facility Commitment
then in effect and (ii) the Borrowers shall not request, and no Dollar Committed Tranche Swing Line Lender shall make, any
Dollar Committed Tranche Swing Line Loan if, after giving effect to the making of such Dollar Committed Tranche Swing Line Loan,
the aggregate amount of the Available Dollar Working Capital Facility Commitments would be less than zero; provided further
that, after giving effect to any Dollar Committed Tranche Swing Line Loan requested by any Borrower, each of the conditions set
forth in Section 6.2 shall be satisfied or waived. During the Dollar Working Capital Facility Commitment Period, the
Borrowers may use the Dollar Swing Line Loan Sub-Limit by borrowing, repaying and reborrowing, all in accordance with the terms
and conditions hereof. Any Borrower may request a Dollar Committed Tranche Swing Line Loan and such Dollar Committed Tranche Swing
Line Loan shall not be required to be requested ratably among the Dollar Committed Tranche Swing Line Lenders.

 

    	-104-	 

     

    

 

Notwithstanding anything
herein to the contrary, no Dollar Committed Tranche Swing Line Lender shall be obligated to make any Dollar Committed Tranche Swing
Line Loan if, after giving effect to the making of such Dollar Committed Tranche Swing Line Loan, the aggregate amount of the then
outstanding Swing Line Loans made by such Swing Line Lender (in its capacity as a Swing Line Lender) would exceed such Swing Line
Lender’s Swing Line Cap; provided, that subject to the terms and conditions hereof, each Dollar Committed Tranche
Swing Line Lender may make any Dollar Committed Tranche Swing Line Loan on a discretionary basis during such time as the aggregate
amount of the then outstanding Swing Line Loans made by such Swing Line Lender (in its capacity as a Swing Line Lender) exceed
such Swing Line Lender’s Swing Line Cap, but the Swing Line Lender shall have no obligation to do so.

 

(b)             
Subject to the terms and conditions hereof, the Dollar Uncommitted Tranche Swing Line Lenders shall, on an UNCOMMITTED AND
ABSOLUTELY DISCRETIONARY BASIS, consider making a portion of the credit under the Dollar Working Capital Facility Uncommitted Tranche
Portions available to the Borrowers by making swing line loans (individually, a “Dollar Uncommitted Tranche Swing Line
Loan” and, collectively, the “Dollar Uncommitted Tranche Swing Line Loans”) to the applicable Borrower
from time to time in United States Dollars during the Dollar Working Capital Facility Uncommitted Tranche Period in an aggregate
principal amount at any one time outstanding not to exceed the Dollar Swing Line Loan Sub-Limit then in effect; provided
that (i) the sum of (x) the Dollar Uncommitted Tranche Swing Line Exposure of such Swing Line Lender, (y) the aggregate
principal amount of outstanding Dollar Working Capital Facility Uncommitted Tranche Loans made by such Swing Line Lender (in its
capacity as a Dollar Working Capital Facility Uncommitted Tranche Lender) and (z) the Dollar Uncommitted Tranche L/C Exposure
of such Swing Line Lender (in its capacity as a Dollar Working Capital Facility Uncommitted Tranche Lender) may not exceed such
Swing Line Lender’s Dollar Working Capital Facility Uncommitted Tranche Portion then in effect and (ii) the Borrowers
shall not request, and no Dollar Uncommitted Tranche Swing Line Lender shall consider making, any Dollar Uncommitted Tranche Swing
Line Loan if, after giving effect to the making of such Dollar Uncommitted Tranche Swing Line Loan, the aggregate amount of the
Available Dollar Working Capital Facility Uncommitted Tranche Portions would be less than zero; provided further that, after
giving effect to any Dollar Uncommitted Tranche Swing Line Loan requested by any Borrower, each of the conditions set forth in
Section 6.2 shall be satisfied or waived. During the Dollar Working Capital Facility Uncommitted Tranche Period, the
Borrowers may use the Dollar Swing Line Loan Sub-Limit by borrowing, repaying and reborrowing, all in accordance with the terms
and conditions hereof. Any Borrower may request a Dollar Uncommitted Tranche Swing Line Loan and such Dollar Uncommitted Tranche
Swing Line Loan shall not be required to be requested ratably among the Dollar Uncommitted Tranche Swing Line Lenders. NO DOLLAR
UNCOMMITTED TRANCHE SWING LINE LENDER SHALL HAVE ANY COMMITMENT OR OBLIGATION TO MAKE ANY DOLLAR
UNCOMMITTED TRANCHE SWING LINE LOAN HEREUNDER. NOTHING CONTAINED HEREIN SHALL OTHERWISE COMMIT OR OBLIGATE ANY DOLLAR UNCOMMITTED
TRANCHE SWING LINE LENDER, OR BE INTERPRETED AS A PROMISE OR COMMITMENT BY ANY DOLLAR UNCOMMITTED TRANCHE SWING LINE LENDER TO
MAKE OR ELECT TO MAKE ANY SUCH DOLLAR UNCOMMITTED TRANCHE SWING LINE LOAN.

 

    	-105-	 

     

    

 

Notwithstanding anything
herein to the contrary, but without limiting the uncommitted nature of the Dollar Working Capital Facility Uncommitted Tranche,
no Dollar Uncommitted Tranche Swing Line Lender shall be obligated to consider making any Dollar Uncommitted Tranche Swing Line
Loan if, after giving effect to the making of such Dollar Uncommitted Tranche Swing Line Loan, the aggregate amount of the then
outstanding Swing Line Loans made by such Swing Line Lender (in its capacity as a Swing Line Lender) would exceed such Swing Line
Lender’s Swing Line Cap; provided, that subject to the terms and conditions hereof, each Dollar Uncommitted Tranche
Swing Line Lender may consider making any Dollar Uncommitted Tranche Swing Line Loan on a discretionary basis during such time
as the aggregate amount of the then outstanding Swing Line Loans made by such Swing Line Lender (in its capacity as a Swing Line
Lender) exceed such Swing Line Lender’s Swing Line Cap, but such Swing Line Lender shall have no obligation to do so.

 

(c)              
Subject to the terms and conditions hereof, the Multicurrency Swing Line Lenders shall make a portion of the credit under
the Multicurrency Working Capital Facility Commitments available to the Borrowers by making swing line loans (individually, a “Multicurrency
Swing Line Loan” and, collectively, the “Multicurrency Swing Line Loans”) to the applicable Borrower
from time to time in United States Dollars or Canadian Dollars (as the applicable Borrower shall notify the Administrative Agent
in accordance with Section 2.5) during the Multicurrency Working Capital Facility Commitment Period in an aggregate
principal amount at any one time outstanding such that the Dollar Equivalent thereof does not exceed the Multicurrency Swing Line
Loan Sub-Limit then in effect; provided that (i) the sum of (x) the Dollar Equivalent of the Multicurrency Swing
Line Exposure of such Swing Line Lender, (y) the Dollar Equivalent of the aggregate principal amount of outstanding Multicurrency
Working Capital Facility Loans made by such Swing Line Lender (in its capacity as a Multicurrency Working Capital Facility Lender)
and (z) the Dollar Equivalent of the Multicurrency L/C Exposure of such Swing Line Lender (in its capacity as a Multicurrency
Working Capital Facility Lender) may not exceed such Swing Line Lender’s Multicurrency Working Capital Facility Commitment
then in effect and (ii) the Borrowers shall not request, and no Multicurrency Swing Line Lender shall make, any Multicurrency
Swing Line Loan if, after giving effect to the making of such Multicurrency Swing Line Loan, the aggregate amount of the Available
Multicurrency Working Capital Facility Commitments would be less than zero; provided further that, after giving effect to
any Multicurrency Swing Line Loan requested by any Borrower, each of the conditions set forth in Section 6.2 shall
be satisfied or waived. During the Multicurrency Working Capital Facility Commitment Period, the Borrowers may use the Multicurrency
Swing Line Loan Sub-Limit by borrowing, repaying and reborrowing, all in accordance with the terms and conditions hereof. Any Borrower
may request a Multicurrency Swing Line Loan and such Multicurrency Swing Line Loan shall not be required to be requested ratably
among the Multicurrency Swing Line Lenders.

 

    	-106-	 

     

    

 

Notwithstanding anything
herein to the contrary, no Multicurrency Swing Line Lender shall be obligated to make any Multicurrency Swing Line Loan if, after
giving effect to the making of such Multicurrency Swing Line Loan, the aggregate amount of the then outstanding Swing Line Loans
made by such Swing Line Lender (in its capacity as a Swing Line Lender) would exceed such Swing Line Lender’s Swing Line
Cap; provided, that subject to the terms and conditions hereof, each Multicurrency Swing Line Lender may make any Multicurrency
Swing Line Loan on a discretionary basis during such time as the aggregate amount of the then outstanding Swing Line Loans made
by such Swing Line Lender (in its capacity as a Swing Line Lender) exceed such Swing Line Lender’s Swing Line Cap, but the
Swing Line Lender shall have no obligation to do so.

 

(d)              
Swing Line Loans (i) denominated in United States Dollars shall be Base Rate Loans and (ii) denominated in Canadian
Dollars shall be Prime Rate Loans.

 

2.4             
Acquisition Facility Loans. (a)  Subject to the terms and conditions hereof, each Acquisition Facility
Lender severally shall make loans under the Acquisition Facility Commitments (the “Acquisition Facility Loans”)
to the Borrowers in an amount requested by the applicable Borrower from time to time during the Acquisition Facility Commitment
Period in an aggregate principal amount at any one time outstanding which, when added to such Acquisition Facility Lender’s
then outstanding Acquisition Facility Extensions of Credit, does not exceed such Acquisition Facility Lender’s Acquisition
Facility Commitment at such time; provided that, after giving effect to any Acquisition Facility Loan requested by any Borrower,
each of the conditions set forth in Section 6.2 shall be satisfied or waived. During the Acquisition Facility Commitment
Period, the Borrowers may borrow, prepay the Acquisition Facility Loans in whole or in part, and reborrow Acquisition Facility
Loans, all in accordance with the terms and conditions hereof.

 

(b)              
Acquisition Facility Loans may be denominated only in United States Dollars and may from time to time be (i) Eurocurrency
Loans, (ii) Base Rate Loans or (iii) a combination thereof, in each case, as the applicable Borrower shall notify the
Administrative Agent in accordance with Sections 2.5 and 4.3. No Acquisition Facility Loan shall be made as
a Eurocurrency Loan after the day that is one (1) month prior to the Acquisition Facility Commitment Termination Date.

 

    	-107-	 

     

    

 

2.5             
Procedure for Borrowing Loans. (a)  The Borrowers may borrow Acquisition Facility Loans, Dollar Working
Capital Facility Committed Tranche Loans, Multicurrency Working Capital Facility Loans, Dollar Committed Tranche Swing Line Loans
or Multicurrency Swing Line Loans during the applicable Commitment Period or Dollar Working Capital Facility Uncommitted Tranche
Loans or Dollar Uncommitted Tranche Swing Line Loans during the Dollar Working Capital Facility Uncommitted Tranche Period, in
each case, on any Business Day; provided that the applicable Borrower shall give the Administrative Agent and (solely in
the case of Swing Line Loans) the applicable Swing Line Lender, irrevocable notice (which notice must be received by the Administrative
Agent (x) in the case of a Working Capital Facility Loan or Acquisition Facility Loan, prior to 1:00 p.m. (New York City
time), (A) three (3) Business Days prior to the requested Borrowing Date, if all or any part of the requested Working
Capital Facility Loans or Acquisition Facility Loans are to be initially Eurocurrency Loans, or (B) on the same Business Day
of the requested Borrowing Date, otherwise, and (y) in the case of a Swing Line Loan (A) under the Dollar Working Capital
Facility, prior to 3:00 p.m. (New York City time) on the requested Borrowing Date and (B) under the Multicurrency Working
Capital Facility, prior to 2:00 p.m. (New York City time) on the requested Borrowing Date, in each case, in the form attached
hereto as Annex I (the “Borrowing Notice”), specifying:

 

(i)         
whether the borrowing is to be an Acquisition Facility Loan, Dollar Working Capital Facility Committed Tranche Loan, Dollar
Working Capital Facility Uncommitted Tranche Loan, Multicurrency Working Capital Facility Loan, Dollar Committed Tranche Swing
Line Loan, Dollar Uncommitted Tranche Swing Line Loan or a Multicurrency Swing Line Loan;

 

(ii)        
the amount to be borrowed;

 

(iii)       
the requested Borrowing Date;

 

(iv)      
in the case of a Multicurrency Working Capital Facility Loan or a Multicurrency Swing Line Loan, whether such Loan is to
be denominated in United States Dollars or Canadian Dollars;

 

(v)        
in the case of a Swing Line Loan, the applicable Swing Line Lender such borrowing is being requested from;

 

(vi)       
in the case of an Acquisition Facility Loan, whether the borrowing is to be an Acquisition Facility Acquisition Extension
of Credit, an Acquisition Facility Working Capital Extension of Credit or an Acquisition Facility Maintenance Cap-Ex Extension
of Credit;

 

(vii)      
in the case of a Working Capital Facility Loan or an Acquisition Facility Loan, the purpose of such Loan;

 

(viii)     
in the case of a Dollar Working Capital Facility Loan, a Multicurrency Working Capital Facility Loan denominated in United
States Dollars or an Acquisition Facility Loan, whether the borrowing is to be a Base Rate Loan, a Eurocurrency Loan or a combination
thereof;

 

(ix)       
in the case of a Multicurrency Working Capital Facility Loan denominated in Canadian Dollars, whether the borrowing is to
be a Prime Rate Loan, a Eurocurrency Loan or a combination thereof;

 

(x)        
in the case of a Working Capital Facility Loan or an Acquisition Facility Loan, if the borrowing is to be entirely or partly
of Eurocurrency Loans, the respective amounts of each such Type of Loan and the respective lengths of the initial Interest Periods
therefor.

 

    	-108-	 

     

    

 

(b)             
Each borrowing of Acquisition Facility Loans, Working Capital Facility Loans and Swing Line Loans shall be in an amount
equal to (x) in the case of Base Rate Loans or Prime Rate Loans, $100,000 or C$100,000, as applicable, or a whole multiple
of $100,000 or C$100,000, as applicable, in excess thereof (or, if the then aggregate Available Commitments or Available Dollar
Working Capital Facility Uncommitted Tranche Portions applicable to such Loans of all Lenders of such Loans are less than $100,000
or the Dollar Equivalent of C$100,000, as applicable, such lesser amount) and (y) in the case of Eurocurrency Loans, $1,000,000
or C$1,000,000, as applicable, or a whole multiple of $100,000 or C$100,000, as applicable in excess thereof.

 

(c)              
Upon receipt of any notice from any Borrower pursuant to Section 2.5(a) with respect to a requested borrowing
of Acquisition Facility Loans, the Administrative Agent shall promptly notify each Acquisition Facility Lender thereof, upon receipt
of any notice from any Borrower pursuant to Section 2.5(a) with respect to a requested borrowing of Dollar Working
Capital Facility Committed Tranche Loans (other than a notice in respect of a Dollar Committed Tranche Swing Line Loan), the Administrative
Agent shall promptly notify each Dollar Working Capital Facility Committed Tranche Lender thereof, upon receipt of any notice from
any Borrower pursuant to Section 2.5(a) with respect to a requested borrowing of a Dollar Committed Tranche Swing Line
Loan, the Administrative Agent shall promptly notify the applicable Dollar Committed Tranche Swing Line Lender thereof, upon receipt
of any notice from any Borrower pursuant to Section 2.5(a) with respect to a requested borrowing of Multicurrency Working
Capital Facility Loans (other than a notice in respect of a Multicurrency Swing Line Loan), the Administrative Agent shall promptly
notify each Multicurrency Working Capital Facility Lender thereof and upon receipt of any notice from any Borrower pursuant to
Section 2.5(a) with respect to a requested borrowing of a Multicurrency Swing Line Loan, the Administrative Agent shall
promptly notify the applicable Multicurrency Swing Line Lender thereof. Subject to the satisfaction or waiver of the conditions
contained in Section 6.2, each Dollar Working Capital Facility Committed Tranche Lender shall make the amount of its
Dollar Working Capital Facility Commitment Percentage of each such borrowing of Dollar Working Capital Facility Committed Tranche
Loans (other than Dollar Committed Tranche Swing Line Loans), each Multicurrency Working Capital Facility Lender shall make the
amount of its Multicurrency Working Capital Facility Commitment Percentage of each such borrowing of Multicurrency Working Capital
Facility Loans (other than Multicurrency Swing Line Loans) and each Acquisition Facility Lender shall make the amount of its Acquisition
Facility Commitment Percentage of each such borrowing of Acquisition Facility Loans, available to the Administrative Agent for
the account of the applicable Borrower at the office of the Administrative Agent specified in Section 11.2 prior to
3:00 p.m. (New York City time) on the Borrowing Date requested by such Borrower in funds immediately available to the Administrative
Agent. Each Loan (other than a Dollar Committed Tranche Swing Line Loan and a Multicurrency Swing Line Loan) so requested will
then promptly, and not later than 3:30 p.m. (New York City time), be made available on the Borrowing Date to such Borrower
by the Administrative Agent by wire transfer to the account of such Borrower set forth on Schedule 2.2 or to such other
account as may be specified by such Borrower in like funds as received by the Administrative Agent. 

 

    	-109-	 

     

    

 

Notwithstanding the
foregoing, on the Restatement Effective Date, (i) Existing Lender shall not be required to advance any Dollar Working
Capital Facility Committed Tranche Loans to the extent of its Existing Dollar Working Capital Facility Loans (it being
understood that on the Restatement Effective Date, such Existing Dollar Working Capital Facility Loans shall be deemed to be
Dollar Working Capital Facility Committed Tranche Loans and such portion of the Existing Dollar Working Capital Facility
Loans that were Base Rate Loans shall be Dollar Working Capital Facility Committed Tranche Loans that are Base Rate Loans and
such portion of the Existing Dollar Working Capital Facility Loans that were Eurocurrency Loans shall be Dollar Working
Capital Facility Committed Tranche Loans that are Eurocurrency Loans (it being understood that for each tranche of Existing
Dollar Working Capital Facility Loans that were Eurocurrency Loans, the initial Interest Period for such tranche shall be the
Interest Period applicable to such tranche of Existing Dollar Working Capital Facility Loans immediately prior to the
Restatement Effective Date)) and the Dollar Working Capital Facility Committed Tranche Lenders (other than the Existing
Lender) shall advance funds to the Administrative Agent no later than 3:00 p.m. (New York City time) on the Restatement
Effective Date as shall be required (and the Dollar Working Capital Facility Committed Tranche Loans of the Existing Lender
shall be repaid as required) such that each Lender’s share of outstanding Dollar Working Capital Facility Committed
Tranche Loans on the Restatement Effective Date is equal to its Dollar Working Capital Facility Commitment Percentage on the
Restatement Effective Date, (ii) the Existing Lender shall not be required to advance any Multicurrency Working Capital
Facility Loans to the extent of its Existing Multicurrency Working Capital Facility Loans (it being understood that on the
Restatement Effective Date, such Existing Multicurrency Working Capital Facility Loans denominated in United States Dollars
shall be deemed to be Multicurrency Working Capital Facility Loans denominated in United States Dollars, such Existing
Multicurrency Working Capital Facility Loans denominated in Canadian Dollars shall be deemed to be Multicurrency Working
Capital Facility Loans denominated in Canadian Dollars, and such portion of the Existing Multicurrency Working Capital
Facility Loans that were Base Rate Loans shall be Multicurrency Working Capital Facility Loans that are Base Rate Loans, such
portion of the Existing Multicurrency Working Capital Facility Loans that were Eurocurrency Loans shall be Multicurrency
Working Capital Facility Loans that are Eurocurrency Loans (it being understood that for each tranche of Existing
Multicurrency Working Capital Facility Loans that were Eurocurrency Loans, the initial Interest Period for such tranche shall
be the Interest Period applicable to such tranche of Existing Multicurrency Working Capital Facility Loans immediately prior
to the Restatement Effective Date) and such portion of the Existing Multicurrency Working Capital Facility Loans that were
Prime Rate Loans shall be Multicurrency Working Capital Facility Loans that are Prime Rate Loans) and the Multicurrency
Working Capital Facility Lenders (other than the Existing Lender) on the Restatement Effective Date as shall be required (and
the Multicurrency Working Capital Facility Loans of the Existing Lender shall be repaid as required) such that each
Lender’s share of outstanding Multicurrency Working Capital Facility Loans on the Restatement Effective Date is equal
to its Multicurrency Working Capital Facility Commitment Percentage on the Restatement Effective Date and (iii) the
Existing Lender shall not be required to advance any Acquisition Facility Loans to the extent of its Existing Acquisition
Facility Loans (it being understood that on the Restatement Effective Date, such Existing Acquisition Facility Loans shall be
deemed to be Acquisition Facility Loans and such portion of the Existing Acquisition Facility Loans that were Base Rate Loans
shall be Acquisition Facility Loans that are Base Rate Loans and such portion of the Existing Acquisition Facility Loans that
were Eurocurrency Loans shall be Acquisition Facility Loans that are Eurocurrency Loans (it being understood that for each
tranche of Existing Acquisition Facility Loans that were Eurocurrency Loans, the initial Interest Period for such tranche shall be the Interest Period applicable to such
tranche of Existing Acquisition Facility Loans immediately prior to the Restatement Effective Date)) and the Acquisition Facility
Lenders (other than the Existing Lender) shall advance funds to the Administrative Agent no later than 3:00 p.m. (New York
City time) on the Restatement Effective Date as shall be required (and the Acquisition Facility Loans of the Existing Lender shall
be repaid as required) such that each Acquisition Facility Lender’s share of outstanding Acquisition Facility Loans on the
Restatement Effective Date is equal to its Acquisition Facility Commitment Percentage on the Restatement Effective Date; provided,
that, in each case, for the ease of the parties, all such payments may be net of the amount that the Existing Lender owes to any
such Lender pursuant to the terms of the Successor Agent Agreement.

 

    	-110-	 

     

    

 

(d)              
Upon receipt of any notice from any Borrower pursuant to Section 2.5(a) with respect to a requested borrowing
of Dollar Working Capital Facility Uncommitted Tranche Loans (other than a notice in respect of a Dollar Uncommitted Tranche Swing
Line Loan), the Administrative Agent shall promptly notify each Dollar Working Capital Facility Uncommitted Tranche Lender thereof
and upon receipt of any notice from any Borrower pursuant to Section 2.5(a) with respect to a requested borrowing of
a Dollar Uncommitted Tranche Swing Line Loan, the Administrative Agent shall promptly notify the applicable Dollar Uncommitted
Tranche Swing Line Lender thereof. Subject to the satisfaction or waiver of the conditions contained in Section 6.2
and unless a Dollar Working Capital Facility Uncommitted Tranche Lender has provided the Administrative Agent with a Declining
Lender Notice prior to 10:00 a.m. (New York City time) on the applicable Borrowing Date, each Dollar Working Capital Facility Uncommitted
Tranche Lender that has not so provided a Declining Lender Notice will be deemed to have approved such requested borrowing of Dollar
Working Capital Facility Uncommitted Tranche Loans (other than Dollar Uncommitted Tranche Swing Line Loans) and shall make the
amount of its Dollar Working Capital Facility Uncommitted Tranche Percentage of each such borrowing of Dollar Working Capital Facility
Uncommitted Tranche Loans (other than Dollar Uncommitted Tranche Swing Line Loans) available to the Administrative Agent for the
account of the applicable Borrower at the Administrative Agent’s office specified in Section 11.2 prior to 3:00 p.m.
(New York City time) on the Borrowing Date requested by such Borrower in funds immediately available to the Administrative Agent.
Each Loan (other than a Dollar Uncommitted Tranche Swing Line Loan) so requested and approved will then promptly, and not later
than 3:30 p.m. (New York City time), be made available on the Borrowing Date to such Borrower by the Administrative Agent
by wire transfer to the account of such Borrower set forth on Schedule 2.2 or to such other account as may be specified
by such Borrower in like funds as received by the Administrative Agent. If the Administrative Agent receives a Declining Lender
Notice, pursuant to which a Dollar Working Capital Facility Uncommitted Tranche Lender will be a Declining Lender with respect
to a Dollar Working Capital Facility Uncommitted Tranche Loan (other than a Dollar Uncommitted Tranche Swing Line Loan) to be made
pursuant to a Borrowing Notice, which Borrowing Notice has already been received by the Administrative Agent and in respect of
which the Administrative Agent has already advised the Dollar Working Capital Facility Uncommitted Tranche Lenders of the amount
of each Dollar Working Capital Facility Uncommitted Tranche Lender’s Dollar Working Capital Facility Uncommitted Tranche
Percentage of such requested Dollar Working Capital Facility Uncommitted Tranche Loan (other than a Dollar Uncommitted Tranche
Swing Line Loan), then the relevant Borrower, shall, at its option, by written notice to the Administrative Agent, either (i) agree
to receive only the aggregate amount of the Approving Lenders’ Dollar Working Capital Facility Uncommitted Tranche Percentages
(prior to giving effect to such Declining Lender Notice) of such requested Dollar Working Capital Facility Uncommitted Tranche
Loan (other than a Dollar Uncommitted Tranche Swing Line Loan) (as so notified to such Dollar Working Capital Facility Uncommitted
Tranche Lenders by the Administrative Agent) and, at the option of the relevant Borrower, submit to the Administrative Agent a
new Borrowing Notice for a subsequent additional funding by the Approving Lenders of the amounts not so funded by the Declining
Lender or (ii) rescind such Borrowing Notice and, at the option of the relevant Borrower, submit to the Administrative Agent a
new Borrowing Notice in respect of such requested borrowing.

 

    	-111-	 

     

    

 

(e)             
(i) Upon receipt of any notice from any Borrower pursuant to Section 2.5(a) with respect to a requested borrowing
of a Dollar Committed Tranche Swing Line Loan, subject to the satisfaction or waiver of the conditions contained in Section 6.2,
the applicable Dollar Committed Tranche Swing Line Lender will make the requested Dollar Committed Tranche Swing Line Loan available
to such Borrower within two (2) hours of receipt of the Borrowing Notice therefor on the Borrowing Date by wire transfer to the
account of such Borrower set forth on Schedule 2.2 or such other account as may be specified by such Borrower. (ii)
If on any Business Day any Dollar Uncommitted Tranche Swing Line Lender elects in its sole discretion to advance a Dollar Uncommitted
Tranche Swing Line Loan requested pursuant to a Borrowing Notice delivered pursuant to Section 2.5(a) on such Business Day,
each Dollar Working Capital Facility Uncommitted Tranche Lender, other than a Dollar Working Capital Facility Uncommitted Tranche
Lender that was a Declining Lender prior to the date of such Borrowing Notice or which delivered a Declining Lender Notice to the
Administrative Agent on or before 10:00 a.m. (New York City time) on such Business Day, will be deemed to have approved such requested
Dollar Uncommitted Tranche Swing Line Loan and each such Approving Lender shall be obligated, regardless of whether it has affirmatively
agreed to fund its Dollar Working Capital Facility Uncommitted Tranche Percentage of any related Dollar Working Capital Facility
Uncommitted Tranche Loan to be applied to repay the Refunded Dollar Uncommitted Tranche Swing Line Loans, to make the amount
of its Dollar Working Capital Facility Uncommitted Tranche Percentage of such Dollar Working Capital Facility Uncommitted Tranche
Loans pursuant to Section 2.6(a) and to fund the amount of its Dollar Working Capital Facility Uncommitted Tranche
Percentage of the Dollar Uncommitted Tranche Swing Line Participation Amount with respect to such Dollar Uncommitted Tranche
Swing Line Loan pursuant to Section 2.6(b)(ii). Upon receipt of any notice from any Borrower pursuant to Section 2.5(a)
with respect to a requested borrowing of a Dollar Uncommitted Tranche Swing Line Loan, subject to the satisfaction or waiver of
the conditions contained in Section 6.2, the applicable Dollar Uncommitted Tranche Swing Line Lender, to the extent
it has agreed to make such Dollar Uncommitted Tranche Swing Line Loan, will make the requested Dollar Uncommitted Tranche Swing
Line Loan available to such Borrower within two (2) hours of receipt of the Borrowing Notice therefor on the Borrowing Date by
wire transfer to the account of such Borrower set forth on Schedule 2.2 or such other account as may be specified by
such Borrower.

 

(f)               
Upon receipt of any notice from any Borrower pursuant to Section 2.5(a) with respect to a requested borrowing
of a Multicurrency Swing Line Loan, subject to the satisfaction or waiver of the conditions contained in Section 6.2,
the applicable Multicurrency Swing Line Lender will make the requested Multicurrency Swing Line Loan available to such Borrower
within two (2) hours of receipt of the Borrowing Notice therefor on the Borrowing Date by wire transfer to the account of such
Borrower set forth on Schedule 2.2 or such other account as may be specified by such Borrower.

 

    	-112-	 

     

    

 

2.6              
Refunding of Swing Line Loans. (a)  Each Borrower unconditionally promises to pay each Swing Line Loan
made to it on or before 1:00 p.m. (New York City time) on the fifth Business Day following the making of such Swing Line Loan
(or, if earlier, the Dollar Working Capital Facility Committed Tranche Maturity Date, the Dollar Working Capital Facility Uncommitted
Tranche Maturity Date or the Multicurrency Working Capital Facility Maturity Date, as applicable), including by arranging to refinance
such Swing Line Loan with a Dollar Working Capital Facility Committed Tranche Loan (in the case of a Dollar Committed Tranche Swing
Line Loan), a Dollar Working Capital Facility Uncommitted Tranche Loan (in the case of a Dollar Uncommitted Tranche Swing Line
Loan) or a Multicurrency Working Capital Facility Loan (in the case of a Multicurrency Swing Line Loan) in accordance with procedures
specified herein; provided that (i) on each date that a Dollar Working Capital Facility Committed Tranche Loan is borrowed,
the Borrowers shall repay all Dollar Committed Tranche Swing Line Loans then outstanding and the proceeds of any such Dollar Working
Capital Facility Committed Tranche Loans shall be applied by the Administrative Agent to repay any Dollar Committed Tranche Swing
Line Loans outstanding, (ii) on each date that a Dollar Working Capital Facility Uncommitted Tranche Loan is borrowed, the Borrowers
shall repay all Dollar Uncommitted Tranche Swing Line Loans then outstanding and the proceeds of any such Dollar Working Capital
Facility Uncommitted Tranche Loans shall be applied by the Administrative Agent to repay any Dollar Uncommitted Tranche Swing Line
Loans outstanding and (iii) on each date that a Multicurrency Working Capital Facility Loan is borrowed, the Borrowers shall
repay all Multicurrency Swing Line Loans then outstanding and the proceeds of any such Multicurrency Working Capital Facility Loans
shall be applied by the Administrative Agent to repay any Multicurrency Swing Line Loans outstanding. If the Administrative Agent
shall not have received full repayment in cash of any Swing Line Loan on or before 1:00 p.m. (New York City time) on the day that
is five (5) Business Days after the making of such Swing Line Loan, any Swing Line Lender may, not later than 3:00 p.m. (New
York City time), on such day, request on behalf of the applicable Borrower (which hereby irrevocably authorizes the Swing Line
Lenders to act on its behalf solely in this regard), that each Dollar Working Capital Facility Committed Tranche Lender, Dollar
Working Capital Facility Uncommitted Tranche Lender or Multicurrency Working Capital Facility Lender, as applicable, including
the applicable Swing Line Lender, make a Dollar Working Capital Facility Committed Tranche Loan (which initially shall be a Base
Rate Loan), a Dollar Working Capital Facility Uncommitted Tranche Loan (which initially shall be a Base Rate Loan) or a Multicurrency
Working Capital Facility Loan (which initially shall be a Base Rate Loan (in the case of a Loan denominated in United States Dollars)
or a Prime Rate Loan (in the case of a Loan denominated in Canadian Dollars)), as applicable, in an amount equal to such Dollar
Working Capital Facility Committed Tranche Lender’s Dollar Working Capital Facility Commitment Percentage, such Dollar Working
Capital Facility Uncommitted Tranche Lender’s Dollar Working Capital Facility Uncommitted Tranche Percentage or such Multicurrency
Working Capital Facility Lender’s Multicurrency Working Capital Facility Commitment Percentage, as applicable, of the outstanding
amount of the applicable Swing Line Loan (a “Refunded Swing Line Loan”). In accordance with Section 2.5(c),
unless any of the conditions contained in Section 6.2 shall not have been satisfied or waived (in which event the procedures
of clause (b) of this Section 2.6 shall apply), each Dollar Working Capital Facility Committed Tranche Lender,
Dollar Working Capital Facility Uncommitted Tranche Lender (other than a Declining Lender) or Multicurrency Working Capital Facility
Lender, as applicable, shall make, with respect to each applicable Relevant Swing Line Lender, the ratable portion of the proceeds
of its Dollar Working Capital Facility Committed Tranche Loan, Dollar Working Capital Facility Uncommitted Tranche Loan or Multicurrency
Working Capital Facility Loan, as applicable, owing to such Swing Line Lender available to such Swing Line Lender for the account
of such Swing Line Lender at such Swing Line Lender’s Applicable Lending Office for Base Rate Loans or Prime Rate Loans,
as applicable, prior to 4:00 p.m. (New York City time) in funds immediately available on the Business Day such request is made.
The proceeds of such Dollar Working Capital Facility Committed Tranche Loans, Dollar Working Capital Facility Uncommitted Tranche
Loans or Multicurrency Working Capital Facility Loans, as applicable, shall be immediately applied to repay the Refunded Swing
Line Loans.

 

    	-113-	 

     

    

 

(b)             
(i)  If for any reason any Dollar Committed Tranche Swing Line Loan cannot be refinanced by a Dollar Working Capital
Facility Committed Tranche Loan in accordance with paragraph (a) of this Section 2.6, each Dollar Committed Tranche
Swing Line Lender irrevocably agrees to grant to each Dollar Working Capital Facility Committed Tranche Lender, and, to induce
each Dollar Committed Tranche Swing Line Lender to make Dollar Committed Tranche Swing Line Loans hereunder, each Dollar Working
Capital Facility Committed Tranche Lender irrevocably agrees to accept and purchase from each Dollar Committed Tranche Swing Line
Lender, on the terms and conditions hereinafter stated, for such Dollar Working Capital Facility Committed Tranche Lender’s
own account and risk on the date such Dollar Working Capital Facility Committed Tranche Loan was to have been made, an undivided
participation interest in the then-outstanding Dollar Committed Tranche Swing Line Loans in an amount equal to its Dollar Working
Capital Facility Commitment Percentage of such Dollar Committed Tranche Swing Line Loans that were to have been repaid with such
Dollar Working Capital Facility Committed Tranche Loans (the “Dollar Committed Tranche Swing Line Participation Amount”).
Each Dollar Working Capital Facility Committed Tranche Lender shall pay to the Administrative Agent for the account of the applicable
Dollar Committed Tranche Swing Line Lender in immediately available funds such Dollar Working Capital Facility Committed Tranche
Lender’s Dollar Committed Tranche Swing Line Participation Amount, and upon receipt thereof, the Administrative Agent shall
promptly distribute such funds to the applicable Dollar Committed Tranche Swing Line Lender in like funds received.

 

(ii)        
If for any reason any Dollar Uncommitted Tranche Swing Line Loan cannot be refinanced by a Dollar Working Capital Facility
Uncommitted Tranche Loan in accordance with paragraph (a) of this Section 2.6, each Dollar Uncommitted Tranche
Swing Line Lender irrevocably agrees to grant to each Dollar Working Capital Facility Uncommitted Tranche Lender, and, to induce
each Dollar Uncommitted Tranche Swing Line Lender to consider making Dollar Uncommitted Tranche Swing Line Loans hereunder, each
Dollar Working Capital Facility Uncommitted Tranche Lender irrevocably agrees to accept and purchase from each Dollar Uncommitted
Tranche Swing Line Lender, on the terms and conditions hereinafter stated, for such Dollar Working Capital Facility Uncommitted
Tranche Lender’s own account and risk on the date such Dollar Working Capital Facility Uncommitted Tranche Loan was to have
been made, an undivided participation interest in the then-outstanding Dollar Uncommitted Tranche Swing Line Loans in an amount
equal to its Dollar Working Capital Facility Uncommitted Tranche Percentage of such Dollar Uncommitted Tranche Swing Line Loans
that were to have been repaid with such Dollar Working Capital Facility Uncommitted Tranche Loans (the “Dollar Uncommitted
Tranche Swing Line Participation Amount”). Each Dollar Working Capital Facility Uncommitted Tranche Lender shall pay
to the Administrative Agent for the account of the applicable Dollar Uncommitted Tranche Swing Line Lender in immediately available
funds such Dollar Working Capital Facility Uncommitted Tranche Lender’s Dollar Uncommitted Tranche Swing Line Participation
Amount, and upon receipt thereof, the Administrative Agent shall promptly distribute such funds to the applicable Dollar Uncommitted
Tranche Swing Line Lender in like funds received.

 

    	-114-	 

     

    

 

(iii)       
If for any reason any Multicurrency Swing Line Loan cannot be refinanced by a Multicurrency Working Capital Facility Loan
in accordance with paragraph (a) of this Section 2.6, each Multicurrency Swing Line Lender irrevocably agrees
to grant to each Multicurrency Working Capital Facility Lender, and, to induce each Multicurrency Swing Line Lender to make Multicurrency
Swing Line Loans hereunder, each Multicurrency Working Capital Facility Lender irrevocably agrees to accept and purchase from each
Multicurrency Swing Line Lender, on the terms and conditions hereinafter stated, for such Multicurrency Working Capital Facility
Lender’s own account and risk on the date such Multicurrency Working Capital Facility Loan was to have been made, an undivided
participation interest in the then-outstanding Multicurrency Swing Line Loans in an amount equal to its Multicurrency Working Capital
Facility Commitment Percentage of such Multicurrency Swing Line Loans that were to have been repaid with such Multicurrency Working
Capital Facility Loans (the “Multicurrency Swing Line Participation Amount”). Each Multicurrency Working Capital
Facility Lender shall pay to the Administrative Agent for the account of the applicable Multicurrency Swing Line Lender in immediately
available funds such Multicurrency Working Capital Facility Lender’s Multicurrency Swing Line Participation Amount, and upon
receipt thereof, the Administrative Agent shall promptly distribute such funds to the applicable Multicurrency Swing Line Lender
in like funds received.

 

(c)             
(i)  If any Dollar Working Capital Facility Committed Tranche Lender failed to timely pay to the Administrative
Agent all or a portion of its Dollar Committed Tranche Swing Line Participation Amount required to be paid pursuant to Section 2.6(b)(i),
such overdue amounts shall bear interest payable by such Dollar Working Capital Facility Committed Tranche Lender at the rate per
annum applicable to Base Rate Loans under the Dollar Working Capital Facility Committed Tranche until such overdue amounts
are paid in full.

 

(ii)        
If any Dollar Working Capital Facility Uncommitted Tranche Lender failed to timely pay to the Administrative Agent
all or a portion of its Dollar Uncommitted Tranche Swing Line Participation Amount required to be paid pursuant to Section 2.6(b)(ii),
such overdue amounts shall bear interest payable by such Dollar Working Capital Facility Uncommitted Tranche Lender at the rate
per annum applicable to Base Rate Loans under the Dollar Working Capital Facility Uncommitted Tranche until such overdue
amounts are paid in full.

 

(iii)       
If any Multicurrency Working Capital Facility Lender failed to timely pay to the Administrative Agent all or a portion of
its Multicurrency Swing Line Participation Amount required to be paid pursuant to Section 2.6(b)(iii), such overdue
amounts shall bear interest payable by such Multicurrency Working Capital Facility Lender at the rate per annum applicable
to Base Rate Loans (in the case of Multicurrency Swing Line Loans denominated in United States Dollars) or Prime Rate Loans (in
the case of Multicurrency Swing Line Loans denominated in Canadian Dollars) under the Multicurrency Working Capital Facility until
such overdue amounts are paid in full.

 

    	-115-	 

     

    

 

(d)             
Each Working Capital Facility Lender’s obligation to make Dollar Working Capital Facility Loans or Multicurrency Working
Capital Facility Loans, as applicable, referred to in Section 2.6(a) and to purchase participation interests pursuant
to Section 2.6(b) shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any
set-off, counterclaim, recoupment, defense or other right which such Working Capital Facility Lender may have against any Swing
Line Lender, any Borrower, or any other Person for any reason whatsoever, (ii) the occurrence or continuance of an Event of
Default, (iii) any failure to satisfy any condition precedent to the applicable extension of credit set forth in Section 6,
(iv) any adverse change in the condition (financial or otherwise) of any Loan Party, (v) any breach of this Agreement
or any Loan Document by any Loan Party or any other Lender or (vi) any other circumstance, happening or event whatsoever,
whether or not similar to any of the foregoing.

 

(e)              
Whenever, at any time after any Swing Line Lender has received from any Dollar Working Capital Facility Committed Tranche
Lender its Dollar Committed Tranche Swing Line Participation Amount, any Dollar Working Capital Facility Uncommitted Tranche Lender
its Dollar Uncommitted Tranche Swing Line Participation Amount or Multicurrency Working Capital Facility Lender its Multicurrency
Swing Line Participation Amount, as applicable, such Swing Line Lender receives any payment on account thereof (whether directly
from any Borrower or otherwise, including proceeds of collateral applied thereto by such Swing Line Lender) or any payment of interest
on account thereof, such Swing Line Lender shall distribute to such Dollar Working Capital Facility Committed Tranche Lender its
Dollar Working Capital Facility Commitment Percentage, such Dollar Working Capital Facility Uncommitted Tranche Lender its Dollar
Working Capital Facility Uncommitted Tranche Percentage or such Multicurrency Working Capital Facility Lender its Multicurrency
Working Capital Facility Commitment Percentage, as applicable, of such payments; provided, however, that in the event
that any such payment received by such Swing Line Lender shall be required to be returned by such Swing Line Lender, such Working
Capital Facility Lender shall return to such Swing Line Lender the portion thereof previously distributed by such Swing Line Lender
to it in like funds received.

 

2.7              
Foreign Exchange Rate. (a)  No later than 1:00 P.M. (New York City time) on each Calculation Date, the
Administrative Agent shall determine the Exchange Rate as of such Calculation Date with respect to Canadian Dollars, provided
that, upon receipt of a Borrowing Notice with respect to a Working Capital Facility Loan or Swing Line Loan pursuant to Section 2.5,
the Administrative Agent shall determine the Exchange Rate with respect to Canadian Dollars on the related Calculation Date (it
being acknowledged and agreed that the Administrative Agent shall use such Exchange Rate for the purposes of determining compliance
with Section 2.1(c) or Section 2.3, as applicable, with respect to such Borrowing Notice). The Exchange
Rates so determined shall become effective on the relevant Calculation Date (a “Reset Date”), shall remain effective
until the next succeeding Reset Date and shall for all purposes of this Agreement (other than Section 11.25 and any
other provision expressly requiring the use of a current Exchange Rate) be the Exchange Rates employed in converting any amounts
between United States Dollars and Canadian Dollars.

 

    	-116-	 

     

    

 

(b)              
No later than 5:00 P.M. (New York City time) on each Reset Date, the Administrative Agent shall determine the aggregate
amount of the Dollar Equivalents of (i) the principal amounts of Loans denominated in Canadian Dollars then outstanding (after
giving effect to any Loans to be made or repaid on such date), (ii) the aggregate then undrawn and unexpired amount of the
then outstanding Multicurrency Working Capital Facility Letters of Credit denominated in Canadian Dollars and (iii) the aggregate
amount of drawings under Multicurrency Working Capital Facility Letters of Credit denominated in Canadian Dollars that have not
then been reimbursed or converted to a Multicurrency Working Capital Facility Loan.

 

(c)              
The Administrative Agent shall promptly notify the Borrowers and the Working Capital Facility Lenders of each determination
of an Exchange Rate hereunder.

 

2.8             
Commitment Fee. Subject to Section 4.18(b)(i), the Borrowers, jointly and severally, agree to pay to
the Administrative Agent for the account of each Lender under each Facility (other than the Dollar Working Capital Facility Uncommitted
Tranche) a commitment fee for the period from and including the first day of the Commitment Period for such Facility to but not
including the Commitment Termination Date for such Facility, computed at the Applicable Commitment Fee Rate for such Facility on
the average daily amount of the Available Commitment of such Lender under such Facility during the period for which payment is
made, payable quarterly in arrears on the fifth day after the first Business Day of each January, April, July and October (or,
if such day is not on a Business Day, the next succeeding Business Day) and on the Commitment Termination Date for such Facility
or such earlier date as all of the Commitments under such Facility shall terminate as provided herein, commencing on the first
of such dates to occur after the Restatement Effective Date.

 

SECTION
3        LETTERS
OF CREDIT

 

3.1             
Working Capital Facility Letters of Credit. On the Restatement Effective Date, upon the satisfaction of the conditions
specified in Section 6.1, (a) each of the Existing Dollar Working Capital Facility Letters of Credit shall automatically
be deemed to be Dollar Working Capital Facility Committed Tranche Letters of Credit outstanding under this Agreement and (b) each
of the Existing Multicurrency Working Capital Facility Letters of Credit shall automatically be deemed to be Multicurrency Working
Capital Facility Letters of Credit outstanding under this Agreement. Subject to the terms and conditions hereof, (A) (x) each
Dollar Working Capital Facility Committed Tranche Issuing Lender severally agrees to issue letters of credit (“Dollar
Working Capital Facility Committed Tranche Letters of Credit”), for the account of the applicable Borrower requesting
the applicable Dollar Working Capital Facility Committed Tranche Letter of Credit, for use by the U.S. Borrower, the Canadian Borrower
or any other Loan Party from time to time during the Dollar Working Capital Facility Commitment Period and (y) each Multicurrency
Working Capital Facility Issuing Lender severally agrees to issue letters of credit (“Multicurrency Working Capital Facility
Letters of Credit”), for the account of the applicable Borrower requesting the applicable Multicurrency Working Capital
Facility Letter of Credit, for use by the U.S. Borrower, the Canadian Borrower or any other Loan Party from time to time during
the Multicurrency Working Capital Facility Commitment Period and (B) each Dollar Working Capital Facility Uncommitted Tranche Issuing
Lender severally agrees, on an UNCOMMITTED AND ABSOLUTELY DISCRETIONARY basis, to consider requests for the issuance letters of
credit (“Dollar Working Capital Facility Uncommitted Tranche Letters of Credit”), for the account of the applicable
Borrower requesting the applicable Dollar Working Capital Facility Uncommitted Tranche Letter of Credit, for use by the U.S. Borrower,
the Canadian Borrower or any other Loan Party from time to time during the Dollar Working Capital Facility Uncommitted Tranche
Period; provided that, after giving effect to any Working Capital Facility Letter of Credit requested by any Borrower:

 

    	-117-	 

     

    

 

(i)               
each of the conditions set forth in Section 6.2 shall be satisfied or waived; and

 

(ii)              
Section 3.4 shall not be contravened by any Loan Party at any time.

 

Each Borrower acknowledges
and agrees that, for the avoidance of doubt, (i) (A) each Letter of Credit designated as a Dollar Working Capital Facility
Committed Tranche Letter of Credit shall be entirely a Dollar Working Capital Facility Committed Tranche Letter of Credit and no
portion thereof will be a Dollar Working Capital Facility Uncommitted Tranche Letter of Credit, an Acquisition Facility Letter
of Credit or a Multicurrency Working Capital Facility Letter of Credit and (B) each Letter of Credit designated as a Dollar Working
Capital Facility Uncommitted Tranche Letter of Credit shall be entirely a Dollar Working Capital Facility Uncommitted Tranche Letter
of Credit and no portion thereof will be a Dollar Working Capital Facility Committed Tranche Letter of Credit, an Acquisition Facility
Letter of Credit or a Multicurrency Working Capital Facility Letter of Credit and (ii) each Letter of Credit designated as
a Multicurrency Working Capital Facility Letter of Credit shall be entirely a Multicurrency Working Capital Facility Letter of
Credit and no portion thereof will be an Acquisition Facility Letter of Credit, a Dollar Working Capital Facility Committed Tranche
Letter of Credit or a Dollar Working Capital Facility Uncommitted Tranche Letter of Credit.

 

NO DOLLAR WORKING CAPITAL
FACILITY UNCOMMITTED TRANCHE ISSUING LENDER OR OTHER DOLLAR WORKING CAPITAL FACILITY UNCOMMITTED TRANCHE LENDER SHALL HAVE ANY
COMMITMENT OR OBLIGATION TO ISSUE OR PARTICIPATE, AS APPLICABLE, IN ANY DOLLAR WORKING CAPITAL FACILITY UNCOMMITTED TRANCHE LETTER
OF CREDIT OR ANY INCREASES OR EXTENSIONS OF MATURITY OF ANY SUCH LETTER OF CREDIT UNLESS AND UNTIL SUCH DOLLAR WORKING CAPITAL
FACILITY UNCOMMITTED TRANCHE ISSUING LENDER OR DOLLAR WORKING CAPITAL FACILITY UNCOMMITTED TRANCHE LENDER AFFIRMATIVELY COMMITS
OR IS DEEMED TO HAVE COMMITTED UNDER SECTION 3.3(e), SECTION 3.6(a) OR SECTION 4.22(a) TO SUCH REQUESTED DOLLAR WORKING
CAPITAL FACILITY UNCOMMITTED TRANCHE LETTER OF CREDIT OR SUCH REQUESTED INCREASE OR EXTENSION. NOTHING CONTAINED HEREIN SHALL OTHERWISE
COMMIT OR OBLIGATE ANY DOLLAR WORKING CAPITAL FACILITY UNCOMMITTED TRANCHE ISSUING LENDER OR DOLLAR WORKING CAPITAL FACILITY UNCOMMITTED
TRANCHE LENDER, OR BE INTERPRETED AS A PROMISE OR COMMITMENT BY ANY DOLLAR WORKING CAPITAL FACILITY UNCOMMITTED TRANCHE ISSUING
LENDER OR DOLLAR WORKING CAPITAL FACILITY UNCOMMITTED TRANCHE LENDER TO ISSUE, ELECT TO ISSUE, EXTEND OR INCREASE ANY SUCH DOLLAR
WORKING CAPITAL FACILITY UNCOMMITTED TRANCHE LETTER OF CREDIT OR TO PARTICIPATE OR ELECT TO PARTICIPATE IN ANY SUCH DOLLAR WORKING
CAPITAL FACILITY UNCOMMITTED TRANCHE LETTER OF CREDIT OR SUCH INCREASE OR EXTENSION UNLESS AND UNTIL SUCH DOLLAR WORKING CAPITAL
FACILITY UNCOMMITTED TRANCHE ISSUING LENDER OR DOLLAR WORKING CAPITAL FACILITY UNCOMMITTED TRANCHE LENDER AFFIRMATIVELY COMMITS
OR IS DEEMED TO HAVE COMMITTED UNDER SECTION 3.3(e), SECTION 3.6(a) OR SECTION 4.22(a) TO SUCH REQUESTED DOLLAR WORKING
CAPITAL FACILITY UNCOMMITTED TRANCHE LETTER OF CREDIT OR SUCH INCREASE OR EXTENSION.

 

    	-118-	 

     

    

 

3.2           Acquisition
Facility Letters of Credit. On the Restatement Effective Date, upon the satisfaction of the conditions specified in Section 6.1,
each of the Existing Acquisition Facility Letters of Credit shall automatically be deemed to be Acquisition Facility Letters of
Credit outstanding under this Agreement. Subject to the terms and conditions hereof, each Acquisition Facility Issuing Lender
severally agrees to issue letters of credit (“Acquisition Facility Letters of Credit”), for the account of
the applicable Borrower requesting the applicable Acquisition Facility Letter of Credit, from time to time during the Acquisition
Facility Commitment Period; provided that, after giving effect to any Acquisition Facility Letter of Credit requested by
any Borrower:

 

(i)            each
of the conditions set forth in Section 6.2 shall be satisfied or waived; and

 

(ii)           Section 3.4
shall not be contravened by any Loan Party at any time.

 

Each Borrower acknowledges
and agrees that, for the avoidance of doubt, each Letter of Credit designated as Acquisition Facility Letter of Credit shall be
entirely an Acquisition Facility Letter of Credit and no portion thereof will be a Working Capital Facility Letter of Credit.

 

3.3           Procedure for the Issuance and Amendments of Letters
of Credit.

 

(a)           Procedure
for the Issuance of Letters of Credit. Each Borrower may from time to time request the issuance of an Acquisition Facility
Letter of Credit from an Acquisition Facility Issuing Lender, a Dollar Working Capital Facility Committed Tranche Letter of Credit
from a Dollar Working Capital Facility Committed Tranche Issuing Lender, a Dollar Working Capital Facility Uncommitted Tranche
Letter of Credit from a Dollar Working Capital Facility Uncommitted Tranche Issuing Lender or a Multicurrency Working Capital
Facility Letter of Credit from a Multicurrency Working Capital Facility Issuing Lender by delivering to the Issuing Lender of
such Letter of Credit and the Administrative Agent a Letter of Credit Request, and such other certificates, documents and other
papers and information as such Issuing Lender may reasonably request (consistent with requests made by such Issuing Lender from
other similarly situated account parties). Such Letter of Credit Request shall specify:

 

(i)            whether
the Letter of Credit requested is to be an Acquisition Facility Letter of Credit, a Dollar Working Capital Facility Committed
Tranche Letter of Credit, Dollar Working Capital Facility Uncommitted Tranche Letter of Credit or a Multicurrency Working Capital
Facility Letter of Credit;

 

(ii)           the
maximum amount of such Letter of Credit and the account party therefor;

 

    	-119-	 

     

    

 

(iii)          in the case of a Multicurrency Working Capital Facility Letter of Credit, whether such Letter of Credit is to be denominated
in United States Dollars or Canadian Dollars;

 

(iv)          in
the case of a Working Capital Facility Letter of Credit, if such Working Capital Facility Letter of Credit is a Performance Letter
of Credit, a Long Tenor Letter of Credit and/or a Trade Letter of Credit;

 

(v)           in
the case of an Acquisition Facility Letter of Credit, (A) if such Letter of Credit is to be an Acquisition Facility Acquisition
Extension of Credit, an Acquisition Facility Working Capital Extension of Credit or an Acquisition Facility Maintenance Cap-Ex
Extension of Credit, (B) if such Letter of Credit is a Performance Letter of Credit, a Long Tenor Letter of Credit and/or a Trade
Letter of Credit and (C) if such Letter of Credit is an Acquisition Facility Transportation Letter of Credit;

 

(vi)          the requested date on which such Letter of Credit is to be issued;

 

(vii)         the
purpose and nature of the proposed Letter of Credit;

 

(viii)        the
name and address of the beneficiary of such Letter of Credit;

 

(ix)          the
expiration or termination date of the Letter of Credit;

 

(x)           the
documents to be presented by such beneficiary in the case of a drawing or demand for payment thereunder; and

 

(xi)          the
delivery instructions for such Letter of Credit.

 

If requested by the Issuing
Lender, the applicable Borrower also shall submit a letter of credit application on the Issuing Bank’s standard form in connection
with any request for a Letter of Credit. To the extent that any material provision of any such application is inconsistent with
the provisions of this Section 3 or adds events of default, grants of security, or remedies not already contained in
the Loan Documents, the provisions of this Section 3 and this Agreement shall apply and such provision shall not be
given effect.

 

Notwithstanding anything
herein to the contrary, no Issuing Lender shall be obligated to issue or consider issuing any Letter of Credit if, after giving
effect to the issuance of such Letter of Credit, the aggregate amount of outstanding L/C Obligations attributable to Letters of
Credit issued by such Issuing Lender would exceed such Issuing Lender’s Issuance Cap; provided, that subject to the
terms and conditions hereof, each Issuing Lender may issue or consider issuing Letters of Credit on a discretionary basis during
such time as the aggregate amount of outstanding L/C Obligations attributable to Letters of Credit issued by such Issuing Lender
exceed such Issuing Lender’s Issuance Cap, but the Issuing Lender shall have no obligation to do so.

 

(b)              
Procedure for Amendments of Letters of Credit. The applicable Borrower may from time to time request an amendment
(including any extension) to any outstanding Letter of Credit by delivering to the Issuing Lender of such Letter of Credit and
the Administrative Agent a Letter of Credit Request which shall specify:

 

    	-120-	 

     

    

 

(i)            the Letter of Credit to be amended;

 

(ii)          
the requested date of the proposed amendment;

 

(iii)         
the nature of the proposed amendment; and

 

(iv)         
the delivery instructions for such amendment.

 

Notwithstanding anything herein to the
contrary, no Issuing Lender shall be obligated to amend (or consider amending) any Letter of Credit if, after giving effect to
the amendment of such Letter of Credit, the aggregate amount of outstanding L/C Obligations attributable to Letters of Credit issued
by such Issuing Lender would exceed such Issuing Lender’s Issuance Cap, provided that subject to the terms and conditions
hereof, each Issuing Lender may issue or consider issuing Letters of Credit on a discretionary basis during such time as the aggregate
amount of outstanding L/C Obligations attributable to Letters of Credit made by such Issuing Lender exceed such Issuing Lender’s
Issuance Cap, but the Issuing Lender shall have no obligation to do so.

 

(c)         
Timing of Letter of Credit Requests. A Letter of Credit Request must be received by the applicable Issuing Lender
and the Administrative Agent by no later than 3:00 p.m. (New York City time), on the date such Letter of Credit is to be issued
or amended, or such other time as previously agreed between the Issuing Lender thereof and the U.S. Borrower. Upon the issuance
of any Letter of Credit or any amendment to an outstanding Letter of Credit, the Administrative Agent and the Acquisition Facility
Lenders, the Dollar Working Capital Facility Committed Tranche Lenders, the Dollar Working Capital Facility Uncommitted Tranche
Lenders or the Multicurrency Working Capital Facility Lenders, as applicable, shall be entitled to assume that the Letter of Credit
Request and certificates, documents and other papers and information reasonably requested by the applicable Issuing Lender in connection
therewith were completed and delivered to the satisfaction of such Issuing Lender.

 

(d)         
Validation Procedure. Upon receipt of a Letter of Credit Request by an Issuing Lender, such Issuing Lender will confirm
with the Administrative Agent (by telephone and in writing), that the Administrative Agent has received a copy of such Letter of
Credit Request and, if not, such Issuing Lender will provide the Administrative Agent, with a copy thereof. Upon receipt by such
Issuing Lender of confirmation from the Administrative Agent that the requested Letter of Credit or amendment is permitted in accordance
with the terms hereof, such Issuing Lender shall, on the requested date, issue (with respect to a Dollar Working Capital Facility
Committed Tranche Letter of Credit, a Multicurrency Working Capital Facility Letter of Credit or an Acquisition Facility Letter
of Credit) or consider issuing (with respect to a Dollar Working Capital Facility Uncommitted Tranche Letter of Credit) a Letter
of Credit for the account of the applicable Borrower or enter into (with respect to a Dollar Working Capital Facility Committed
Tranche Letter of Credit, a Multicurrency Working Capital Facility Letter of Credit or an Acquisition Facility Letter of Credit)
or consider entering into (with respect to a Dollar Working Capital Facility Uncommitted Tranche Letter of Credit) the applicable
amendment, as the case may be, in each case in accordance with such Issuing Lender’s usual and customary business practices.

 

    	-121-	 

     

    

 

(e)          
Dollar Working Capital Facility Uncommitted Tranche Letter of Credit Requests. Upon receipt of notice by the Administrative
Agent of a Letter of Credit Request from a Borrower under the Dollar Working Capital Facility Uncommitted Tranche, the Administrative
Agent will promptly notify each Dollar Working Capital Facility Uncommitted Tranche Lender of its receipt of such Letter of Credit
Request and the amount of such applicable Dollar Working Capital Facility Uncommitted Tranche Lender’s Dollar Working Capital
Facility Uncommitted Tranche Percentage of the requested Dollar Working Capital Facility Uncommitted Tranche Letter of Credit,
and shall deliver such other information received by it relating thereto as any applicable Dollar Working Capital Facility Uncommitted
Tranche Lender may request. Unless a Dollar Working Capital Facility Uncommitted Tranche Lender has provided the Administrative
Agent with a Declining Lender Notice prior to 10:00 a.m. (New York City time) on the date of issuance of such Dollar Working Capital
Facility Uncommitted Tranche Letter of Credit, if the applicable Dollar Working Capital Facility Uncommitted Tranche Issuing Lender
elects in its sole discretion to issue or amend, as applicable, a Dollar Working Capital Facility Uncommitted Tranche Letter of
Credit pursuant to a Letter of Credit Request, each Dollar Working Capital Facility Uncommitted Tranche Lender (or after a Conversion
to Approving Lenders Date, each then Approving Lender) will be deemed to have approved such requested Dollar Working Capital Facility
Uncommitted Tranche Letter of Credit. If any Dollar Working Capital Facility Uncommitted Tranche Lender in a timely manner provides
the Administrative Agent with such a Declining Lender Notice, the Administrative Agent shall notify the Borrowers and the other
Dollar Working Capital Facility Uncommitted Tranche Lenders (other than Declining Lenders) that one or more of the Dollar Working
Capital Facility Uncommitted Tranche Lenders have elected not to fund or participate in further Dollar Working Capital Facility
Uncommitted Tranche Letters of Credit.

 

3.4          
General Terms of Letters of Credit. (a)  Each Acquisition Facility Letter of Credit and each Dollar Working
Capital Facility Letter of Credit is to be denominated only in United States Dollars. Each Multicurrency Working Capital Facility
Letter of Credit is to be denominated only in United States Dollars or Canadian Dollars (as the applicable Borrower shall notify
the Administrative Agent and the applicable Issuing Lender in accordance with 3.3(a)). Each Letter of Credit is to be either a
Trade Letter of Credit or a Performance Letter of Credit.

 

(b)          
Each Letter of Credit shall, subject to Section 3.4(c), expire no later than ninety (90) days after the
date of issuance (or extension), unless such Letter of Credit is, subject to the Dollar Long Tenor Letter of Credit Sub-Limit (with
respect to a Dollar Working Capital Facility Letter of Credit) or the Multicurrency Long Tenor Letter of Credit Sub-Limit (with
respect to a Multicurrency Working Capital Facility Letter of Credit), a Long Tenor Letter of Credit, or, subject to the Dollar
Performance Letter of Credit Sub-Limit (with respect to a Dollar Working Capital Facility Letter of Credit), the Multicurrency
Performance Letter of Credit Sub-Limit (with respect to a Multicurrency Working Capital Facility Letter of Credit) or subject to
the Acquisition Facility Transportation Letter of Credit Sub-Limit (with respect to an Acquisition Facility Transportation Letter
of Credit), or a Performance Letter of Credit, in which case, such Letter of Credit (including any such Auto-Renewal Letter of
Credit) shall expire no later than the earlier of one (1) year after the date of issuance and the Applicable Facility Termination
Date applicable thereto; provided that (i) at any time, the Dollar Equivalent of the aggregate face amount of all Letters
of Credit issued with an expiration date after the Applicable Facility Termination Date applicable thereto shall not exceed $300,000,000;
(ii) all Letters of Credit with an expiration date after the Applicable Facility Termination Date applicable thereto shall
be returned and cancelled (with the beneficiary’s consent) or Cash Collateralized at least 15 Business Days prior to the
Applicable Facility Termination Date applicable thereto and (iii) no such Letter of Credit may be issued with an expiration
date after the date that is six months after the Applicable Facility Termination Date applicable thereto.

 

    	-122-	 

     

    

 

(c)          
Upon request by any Borrower in the applicable Letter of Credit Request, the relevant Issuing Lender may, in its sole and
absolute discretion, agree to issue a Letter of Credit that has automatic renewal provisions (each, an “Auto-Renewal Letter
of Credit”). Unless otherwise agreed upon by the applicable Issuing Lender at its sole discretion, the applicable Borrower
shall make a specific request to such Issuing Lender for any renewal of an Auto-Renewal Letter of Credit, such prior notice to
be delivered to the applicable Issuing Lender and the Administrative Agent no later than thirty (30) days prior to the expiration
or termination date of such Auto-Renewal Letter of Credit (the date of the delivery of such notice, the “Renewal Notice
Date”); provided that, unless otherwise agreed upon by the applicable Issuing Lender at its sole discretion, the
applicable Borrower shall provide to the applicable Issuing Lender and the Administrative Agent written notice of its intent to
not renew such an Auto-Renewal Letter of Credit no later than thirty (30) days prior to the expiration or termination date
of such Auto-Renewal Letter of Credit (the date of the delivery of such notice, the “Non-Renewal Notice Date”).
Once an Auto-Renewal Letter of Credit has been issued (or is permitted to be outstanding hereunder in the case of an outstanding
Letter of Credit that is an Auto-Renewal Letter of Credit), the Lenders shall be deemed to have authorized (but the Lenders may
not require) such Issuing Lender to permit the renewal of such Letter of Credit at any time to a date not later than six (6)
months after the Applicable Facility Termination Date; provided, however, that no Issuing Lender shall permit any
renewal of an Auto-Renewal Letter of Credit if (A) such Issuing Lender has determined that it would have no obligation at
such time to issue such Letter of Credit in its renewed form under the terms hereof (by reason of the provisions of Section 3.4
or 6.2 or otherwise), (B) after giving effect to any such renewal, the earlier of the (x) expiration date of such
Auto-Renewal Letter of Credit and (y) the next occurring Non-Renewal Notice Date of such Auto-Renewal Letter of Credit would
occur after the date that is six (6) months after the Applicable Facility Termination Date, or (C) it has received notice
in writing on or before the date that is two (2) Business Days before the Renewal Notice Date from the Administrative Agent,
any Lender or the applicable Borrower that one or more of the applicable conditions specified in Section 3.4 or 6.2
is not then satisfied. Notwithstanding anything to the contrary contained herein, no Issuing Lender shall have any obligation to
permit the renewal of any Auto-Renewal Letter of Credit at any time if any of the applicable conditions specified in Section 6.2
is not then satisfied.

 

(d)          
If any Issuing Lender (other than MUFG or an Affiliate thereof) shall issue, extend or amend any Letter of Credit without
obtaining prior consent of the Administrative Agent (as provided in Section 3.3(d)), or if any Issuing Lender (other
than, in the case of clause (i) below, MUFG or an Affiliate thereof) shall permit the extension or renewal of an Auto-Renewal
Letter of Credit (i) without giving timely prior notice to the Administrative Agent or (ii) when such extension or renewal
is not permitted hereunder (as provided in sub-section (c) above), such Letter of Credit (A) shall for all purposes be
deemed to have been issued by such Issuing Lender solely for its own account and risk and (B) shall not be considered a Letter
of Credit outstanding under this Agreement, and no Lender shall be deemed to have any participation therein, effective as of the
date of such issuance, amendment, extension or renewal, as the case may be, unless the Required Committed Lenders (if such Letter
of Credit is a Dollar Working Capital Facility Committed Tranche Letter of Credit, a Multicurrency Working Capital Facility Letter
of Credit or an Acquisition Facility Letter of Credit) or the Required Dollar Working Capital Facility Uncommitted Tranche Lenders
(if such Letter of Credit is a Dollar Working Capital Facility Uncommitted Tranche Letter of Credit) expressly consent thereto;
provided, however, that to be considered a Letter of Credit outstanding under this Agreement, the consent of all
Lenders shall be required to the extent that any such issuance, amendment, extension or renewal is not then permitted hereunder
by reason of the provisions of this Section 3.4.

 

    	-123-	 

     

    

 

(e)          
Notwithstanding anything herein to the contrary, an Issuing Lender is under no obligation to issue or provide any Letter
of Credit (including any renewal of an Auto-Renewal Letter of Credit) or renew, extend or amend any Letter of Credit unless consented
to by such Issuing Lender and the Administrative Agent if:

 

(i)           
any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain
such Issuing Lender from issuing, renewing, extending or amending such Letter of Credit, or any Requirement of Law applicable to
such Issuing Lender or any request or directive (whether or not having the force of Law) from any Governmental Authority with jurisdiction
over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance, renewal, extension or
amending of a Letter of Credit generally or such Letter of Credit in particular or shall impose upon such Issuing Lender with respect
to such Letter of Credit any restriction, reserve or capital requirement (in the case of an amendment of a Letter of Credit, for
which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Restatement Effective Date, or shall impose
upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Restatement Effective Date and
which such Issuing Lender in good faith deems material to it; or

 

(ii)          
such Letter of Credit or the requested amendment is not in form and substance reasonably acceptable to such Issuing Lender
thereof or the issuance of such Letter of Credit shall violate any applicable policies of such Issuing Lender.

 

(f)           
Within one (1) Business Day after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an
advising bank with respect thereto or to the beneficiary thereof, the Issuing Lender thereof will also deliver to the applicable
Borrower and the Administrative Agent, a true and complete copy of such Letter of Credit or amendment.

 

(g)         
Each Letter of Credit shall be subject to the International Standby Practices (“ISP 98”) International
Chamber of Commerce Publication No. 590 or Uniform Customs and Practice for Documentary Credits No. 600 (“UCP
600”), as applicable, and to the extent not inconsistent with ISP 98 or UCP 600, the Laws of the State of New
York.

 

    	-124-	 

     

    

 

3.5          
Fees, Commissions and Other Charges.

 

(a)          
Letter of Credit Fee. The Borrowers shall pay to the Administrative Agent, for the account of the relevant Issuing
Lender and the Acquisition Facility L/C Participants, Dollar Working Capital Facility L/C Participants or Multicurrency
Working Capital Facility L/C Participants, as applicable, a letter of credit commission, with respect to each outstanding
Letter of Credit, in an amount equal to the Applicable L/C Fee Rate times the average daily maximum amount of such Letter of Credit
(expressed as United States Dollars or Canadian Dollars, as applicable); provided that such letter of credit commission
shall not be in an amount less than $500 or C$500, as applicable, for the period during which such Letter of Credit is outstanding,
and, in each case, such commission shall be payable to the Acquisition Facility L/C Participants, Dollar Working Capital Facility
L/C Participants or Multicurrency Working Capital Facility L/C Participants, as applicable, and the Issuing Lender of
such Letter of Credit to be shared ratably among them in accordance with the average daily amount of their respective Acquisition
Facility Commitment Percentages, Dollar Working Capital Facility Commitment Percentages, Adjusted Dollar Working Capital Facility
Uncommitted Tranche Percentage and Multicurrency Working Capital Facility Commitment Percentages. Such commission shall be payable
quarterly in arrears on each L/C Fee Payment Date.

 

(b)          
Fronting Fee. In addition to the fees and commissions in (a) and (c), the Borrowers shall pay each relevant Issuing
Lender an amount equal to 0.20% per annum times the face amount of each Letter of Credit (expressed as United States Dollars
or Canadian Dollars, as applicable) issued by such Issuing Lender. Such fee shall be nonrefundable and shall be payable quarterly
in arrears on each L/C Fee Payment Date.

 

(c)          
Other Charges. In addition to the foregoing fees and commissions, the Borrowers shall, upon demand, pay or reimburse
each Issuing Lender of any Letter of Credit for such normal and customary costs, expenses and fees as are incurred or charged by
such Issuing Lender in issuing, effecting payment under, amending, processing, negotiating or otherwise administering any Letter
of Credit. The Borrowers shall pay each relevant Issuing Lender of any Letter of Credit (i) a fee of no less than $500 for
any issuance of a Letter of Credit by such Issuing Lender and (ii) a fee of $100 for any amendment of a Letter of Credit issued
by such Issuing Lender (which fees shall be in addition to any fee payable under the preceding sentence for such issuance or amendment).

 

(d)          
Distribution of Fees. The Administrative Agent shall, within two (2) Business Days following its receipt thereof,
distribute to the relevant Issuing Lenders and the L/C Participants all fees and commissions received by the Administrative
Agent for their respective accounts pursuant to this Section 3.5.

 

3.6          
L/C Participations. (a)  Each Issuing
Lender irrevocably agrees to grant and hereby grants to each Relevant L/C Participant, and, to induce the Issuing Lenders
to issue Letters of Credit hereunder, each Relevant L/C Participant irrevocably agrees to accept and purchase and hereby accepts
and purchases from each such Issuing Lender, on the terms and conditions hereinafter stated, for such Relevant L/C Participant’s
own account and risk, an undivided interest in such Issuing Lender’s obligations and rights under each Relevant Letter of
Credit issued or provided by such Issuing Lender hereunder and the amounts paid by such Issuing Lender thereunder equal to such
Relevant L/C Participant’s Commitment Percentage or Dollar Working Capital Facility Uncommitted Tranche Percentage (determined
as of the date of issuance of such Letter of Credit), as applicable.

 

    	-125-	 

     

    

 

(b)          
Each L/C Participant’s obligation to accept and purchase for such L/C Participant’s own account and
risk, an undivided participation interest in an Issuing Lender’s obligations and rights under each Letter of Credit issued
or provided by such Issuing Lender hereunder and the amounts paid by such Issuing Lender thereunder equal to such L/C Participant’s
Commitment Percentage or Dollar Working Capital Facility Uncommitted Tranche Percentage thereof, as applicable, shall be absolute
and unconditional and shall not be affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense
or other right which such L/C Participant may have against any Issuing Lender, any Borrower, or any other Person for any reason
whatsoever, (ii) the occurrence or continuance of a Default or an Event of Default, (iii) any adverse change in the condition
(financial or otherwise) of any Loan Party, (iv) any breach of this Agreement or any other Loan Document by any Loan Party
or any other Lender or (v) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing.

 

(c)          
The obligations of the L/C Participants to purchase participations in the obligations of the Issuing Lenders under
outstanding Letters of Credit pursuant to Section 3.6 shall survive the Applicable Facility Termination Date with respect
to Letters of Credit which have been Cash Collateralized pursuant to Section 3.4(b) until the earliest of (i) the
expiration date for such Letters of Credit and all drawings thereunder having been repaid in full, (ii) the date the entire
amount available under such Letters of Credit is drawn and such drawings are repaid and no further drawings are permitted under
such Letters of Credit, and (iii) the date that is six (6) months after the Applicable Facility Termination Date applicable
to such Letters of Credit; provided that, notwithstanding any other provision of this Section 3.6(c), with respect
to any Letter of Credit having an expiration date following the Applicable Facility Termination Date applicable thereto (such a
Letter of Credit, a “Post-Termination LOC”), in no event shall the obligations of the L/C Participants
to purchase participations in the obligations of an Issuing Lender under a Post-Termination LOC pursuant to Section 3.6(a)
expire or terminate prior to the Business Day following the expiration, cancellation or termination of the last remaining outstanding
Post-Termination LOC and the payment in full of all drawings, if any, thereunder.

 

(d)          
If for any reason any Unreimbursed Amount cannot be refinanced by an L/C Reimbursement Loan in accordance with Section 3.7(c),
each Relevant L/C Participant shall, on or before the deadline for such Relevant Facility Loan to have been made, pay to the
Administrative Agent for the account of the applicable Issuing Lender in immediately available funds such Relevant L/C Participant’s
Commitment Percentage or Adjusted Dollar Working Capital Facility Uncommitted Tranche Percentage, as applicable, of such Unreimbursed
Amount, and upon receipt thereof, the Administrative Agent shall promptly distribute such funds to the applicable Issuing Lender
in like funds received.

 

(e)          
If any L/C Participant fails to timely pay to the Administrative Agent all or a portion of its Commitment Percentage
or its Adjusted Dollar Working Capital Facility Uncommitted Tranche Percentage, as applicable, of any Unreimbursed Amount required
to be paid pursuant to Section 3.6(d), such overdue amounts shall bear interest payable by such L/C Participant
at the rate per annum applicable to Base Rate Loans (in the case of Unreimbursed Amounts denominated in United States Dollars)
or Prime Rate Loans (in the case of Unreimbursed Amounts denominated in Canadian Dollars) under the applicable Facility until such
overdue amounts are paid in full.

 

    	-126-	 

     

    

 

(f)           
Whenever, at any time after any Issuing Lender has received from any Relevant L/C Participant its Commitment Percentage
or its Adjusted Dollar Working Capital Facility Uncommitted Tranche Percentage, as applicable, of any Unreimbursed Amount, such
Issuing Lender receives any payment on account thereof (whether directly from any Borrower or otherwise, including proceeds of
collateral applied thereto by such Issuing Lender), or any payment of interest on account thereof, such Issuing Lender shall distribute
to such Relevant L/C Participant its Commitment Percentage or its Adjusted Dollar Working Capital Facility Uncommitted Tranche
Percentage, as applicable, of such payments; 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 Relevant L/C Participant shall return
to such Issuing Lender the portion thereof previously distributed by such Issuing Lender to it in like funds received.

 

3.7          
Reimbursement Obligations of the Borrowers. (a)  Upon receipt by the relevant Issuing Lender from the beneficiary
of any Letter of Credit of any notice of a drawing or demand for payment under such Letter of Credit, such Issuing Lender shall
promptly notify the applicable Borrower that requested such Letter of Credit and the Administrative Agent thereof. If such Borrower
receives notice (confirmed by telephone) from such Issuing Lender of a drawing or demand for payment under a Letter of Credit prior
to 1:00 p.m. (New York City time), on any Business Day, such Borrower shall reimburse such Issuing Lender on such Business Day
for the Unreimbursed Amount of such Letter of Credit. If such Borrower receives notice (confirmed by telephone) from such Issuing
Lender of a drawing or demand for payment under a Letter of Credit at or after 1:00 p.m. (New York City time), on any Business
Day, such Borrower shall so reimburse such Issuing Lender on the Business Day immediately following the Business Day upon which
such notice was received by such Borrower. Such reimbursement shall be made directly to such Issuing Lender in the currency in
which such Letter of Credit was drawn in an amount equal to (i) the amount so paid and (ii) any Non-Excluded Taxes and
any reasonable fees, charges or other costs or expenses incurred by such Issuing Lender at its Applicable Lending Office in immediately
available funds (such amount that has not been reimbursed by the applicable Borrower being, the “Unreimbursed Amount”).

 

(b)         
If the applicable Borrower fails to fully reimburse any Issuing Lender pursuant to Section 3.7(a) at the time
and on the due date specified in such Section (the “Reimbursement Date”), such Issuing Lender shall so notify
the Administrative Agent (with a copy to the applicable Borrower), which notice shall be provided on a Business Day, and specify
in such notice the amount (and currency) of the Unreimbursed Amount. Immediately upon receipt of such notice from such Issuing
Lender, the Administrative Agent shall notify each Relevant L/C Participant of the Reimbursement Date, the Unreimbursed Amount,
and the amount (and currency) of such Relevant L/C Participant’s Commitment Percentage or Adjusted Dollar Working Capital
Facility Uncommitted Tranche Percentage thereof.

 

(c)          
If there shall be any Unreimbursed Amounts owing to any Issuing Lender on or after such Unreimbursed Amounts were due pursuant
to Section 3.7(a), the relevant Issuing Lender may request on behalf of the applicable Borrower (and each Borrower
hereby irrevocably authorizes such Issuing Lender to act on its behalf solely in this regard), that each Relevant Facility Lender
make a Relevant Facility Loan (which initially shall be a Base Rate Loan (in the case of a Loan denominated in United States Dollars)
or a Prime Rate Loan (in the case of a Loan denominated in Canadian Dollars)) in the currency in which such Letter of Credit was
drawn and in an amount equal to such Relevant Facility Lender’s Commitment Percentage or Adjusted Dollar Working Capital
Facility Uncommitted Tranche Percentage, as applicable, of the outstanding amount of such Unreimbursed Amount (an “L/C Reimbursement
Loan”). In accordance with Section 2.5(c) or 2.5(d), as applicable, unless any of the conditions contained
in Section 6.2 shall not have been satisfied or waived (in which event the procedures set forth in Section 3.6
shall apply), each Relevant Facility Lender shall make the proceeds of its Relevant Facility Loan available to the Administrative
Agent prior to 11:00 a.m. (New York City time) in funds immediately available on the Business Day next succeeding the date such
request is made. The proceeds of such Relevant Facility Loans shall be immediately applied to repay the applicable Issuing Lender.

 

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(d)          
With respect to Unreimbursed Amounts that are not paid on the date due, interest shall be payable on any and all Unreimbursed
Amounts from the date such amounts become payable (whether at stated maturity, by acceleration, demand or otherwise) until payment
in full (either in cash or upon the making of a Relevant Facility Loan) at the applicable rate which would be payable on any outstanding
Relevant Facility Loans that were Base Rate Loans or (with respect to Unreimbursed Amounts denominated in Canadian Dollars) Prime
Rate Loans, as applicable, which were then overdue.

 

3.8          
Obligations Absolute. (a)  The Borrowers’
obligations under this Section 3 shall be absolute, irrevocable and unconditional and shall be performed strictly in
accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of (i) any lack of
validity or enforceability of any Letter of Credit or this Agreement, or any term or provision therein, (ii) any draft or
other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any respect or any statement therein
being untrue or inaccurate in any respect, (iii) payment by the Issuing Lender under a Letter of Credit against presentation
of a draft or other document that does not comply with the terms of such Letter of Credit, or (iv) any other event or circumstance
whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section, constitute a legal
or equitable discharge of, or provide a right of setoff against, the Borrowers’ obligations hereunder. Neither the Administrative
Agent, the Lenders nor the Issuing Lenders, nor any of their Related Persons, shall have any liability or responsibility by reason
of or in connection with the issuance or transfer of any Letter of Credit or any payment or failure to make any payment thereunder
(irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption, loss or
delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including
any document required to make a drawing thereunder), any error in interpretation of technical terms or any consequence arising
from causes beyond the control of the applicable Issuing Lender; provided that the foregoing shall not be construed to excuse
any Issuing Lender from liability to the Borrowers to the extent of any direct damages (as opposed to special, indirect, consequential
or punitive damages, claims in respect of which are hereby waived by the Borrowers to the extent permitted by applicable law) suffered
by the Borrowers that are caused by such Issuing Lender’s failure to exercise care when determining whether drafts and other
documents presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree that, in the absence
of gross negligence or willful misconduct on the part of an Issuing Lender (as finally determined by a court of competent jurisdiction),
such Issuing Lender shall be deemed to have exercised care in each such determination. In furtherance of the foregoing and without
limiting the generality thereof, the parties agree that, with respect to documents presented which appear on their face to be in
substantial compliance with the terms of a Letter of Credit, each Issuing Lender may, in its sole discretion, either accept and
make payment upon such documents without responsibility for further investigation, regardless of any notice or information to the
contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the terms
of such Letter of Credit.

 

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3.9          
Role of the Issuing Lenders. (a)  The responsibility
of any Issuing Lender to the Borrowers in connection with any draft presented for payment under any Letter of Credit issued on
behalf of any Borrower 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 by or on behalf of the beneficiary under such Letter of Credit
in connection with such presentment are in conformity with such Letter of Credit. In addition, each Lender and each Borrower agree
that, in paying any drawing or demand for payment under any Letter of Credit, the Issuing Lender of such Letter of Credit shall
not have any responsibility to inquire as to the validity or accuracy of any document presented in connection with such drawing
or demand for payment or the authority of the Person executing or delivering the same.

 

(b)          
No Agent-Related Person nor any of the respective correspondents, participants or assignees of any Issuing Lender shall
be liable to any Lender for: (i) any action taken or omitted in connection herewith in respect of any Letter of Credit at
the request or with the approval or deemed approved of the Required Lenders, the Required Committed Lenders or the Required Dollar
Working Capital Facility Uncommitted Tranche Lenders; (ii) any action taken or omitted in respect of any Letter of Credit
in the absence of gross negligence or willful misconduct; or (iii) the due execution, effectiveness, validity or enforceability
of any Letter of Credit or any document delivered in connection with the issuance or payment of such Letter of Credit.

 

(c)          
The Borrowers hereby assume all risks of the acts or omissions of any beneficiary or transferee with respect to its use
of any Letter of Credit; provided, however, that this assumption is not intended to, and shall not, preclude any
Borrower from pursuing such rights and remedies as it may have against such beneficiary or transferee. No Agent-Related Person,
nor any of the respective correspondents, participants or assignees of the Issuing Lenders shall be liable or responsible for any
of the matters described in Section 3.8; provided, however, that anything in such Section or elsewhere
herein to the contrary notwithstanding, any Borrower may have a claim against any Issuing Lender and such Issuing Lender may be
liable to such Borrower, to the extent, but only to the extent, of any direct, as opposed to consequential or exemplary, damages
suffered by such Borrower which such Borrower proved were caused (x) by such Issuing Lender’s willful failure to pay
under any Letter of Credit after the presentation to it by the beneficiary of documents strictly complying with the terms and conditions
of such Letter of Credit or (y) as a result of gross negligence or willful misconduct by such Issuing Lender with respect
to the payment by such Issuing Lender of any Letter of Credit against presentation of any document or certificate that does not
strictly comply with the terms of such Letter of Credit. In furtherance and not in limitation of the foregoing: (i) any Issuing
Lender may accept documents that appear on their face to be in order, without responsibility for further investigation, regardless
of any notice or information to the contrary; and (ii) no Issuing Lender shall be responsible for the validity or sufficiency
of any instrument transferring or assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits thereunder
or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason.

 

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3.10        
Letter of Credit Request. To the extent that any material provision of any Letter of Credit Request related to any
Letter of Credit is inconsistent with the provisions of this Section 3, the provisions of this Section 3
shall apply.

 

SECTION
4        GENERAL
PROVISIONS APPLICABLE TO LOANS AND LETTERS OF CREDIT

 

4.1          
Increase, Termination or Reduction of Commitments or Total Dollar Working Capital Facility Uncommitted Tranche Portions.
(a)  The U.S. Borrower shall have the right, from time to time, upon not less than four (4) Business Days’
notice to the Administrative Agent, to terminate the Dollar Working Capital Facility Commitments, the Total Dollar Working Capital
Facility Uncommitted Tranche Portions, the Multicurrency Working Capital Facility Commitments and/or the Acquisition Facility Commitments
or, from time to time, reduce the Dollar Working Capital Facility Commitments, the Total Dollar Working Capital Facility Uncommitted
Tranche Portions, the Multicurrency Working Capital Facility Commitments and/or the Acquisition Facility Commitments; provided,
that no such termination or reduction of the relevant Commitments or the Total Dollar Working Capital Facility Uncommitted Tranche
Portions shall be permitted to the extent that, after giving effect thereto and to any prepayments of the Loans and Cash Collateralization
of the Letters of Credit made on or before the effective date thereof, (i) the Total Dollar Working Capital Facility Committed
Tranche Extensions of Credit would exceed the aggregate amount of all Dollar Working Capital Facility Commitments of all Dollar
Working Capital Facility Committed Tranche Lenders then in effect, (ii) the Total Dollar Working Capital Facility Uncommitted
Tranche Extensions of Credit would exceed the Dollar Working Capital Facility Uncommitted Tranche Portions of all Dollar Working
Capital Facility Uncommitted Tranche Lenders then in effect, (iii) the Total Multicurrency Working Capital Facility Extensions
of Credit would exceed the aggregate amount of all Multicurrency Working Capital Facility Commitments of all Multicurrency Working
Capital Facility Lenders then in effect or (iv) the Total Acquisition Facility Extensions of Credit would exceed the aggregate
amount of all Acquisition Facility Commitments of all Acquisition Facility Lenders then in effect. Any such reduction shall be
in an amount equal to $1,000,000 or a whole multiple thereof and shall reduce permanently and ratably the applicable relevant Commitments
or Dollar Working Capital Facility Uncommitted Tranche Portions then in effect.

 

(b)          
At any time during the Increase Period, (x)(i) the aggregate Dollar Working Capital Facility Commitments or the Total
Dollar Working Capital Facility Uncommitted Tranche Portions may be increased to an amount not to exceed $1,200,000,000 in the
aggregate under the Dollar Working Capital Facility (a “Dollar Working Capital Facility Increase”) and (ii) the
aggregate Multicurrency Working Capital Facility Commitments may be increased to an amount not to exceed $320,000,000 (a “Multicurrency
Working Capital Facility Increase”); provided that the aggregate increases under clauses (x)(i) and (x)(ii)
shall not exceed $470,000,000 and (y) the aggregate Acquisition Facility Commitments may be increased to an amount not to
exceed $750,000,000 (an “Acquisition Facility Increase”; a Dollar Working Capital Facility Increase, Multicurrency
Working Capital Facility Increase and an Acquisition Facility Increase, each being a “Facility Increase”), in
each case, pursuant to the following procedure:

 

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(i)           
The U.S. Borrower may make a written request for such Facility Increase to the Administrative Agent, who shall forward a
copy of any such request to the Lenders under such Facility. Each request by the U.S. Borrower pursuant to the immediately preceding
sentence shall specify a proposed effective date of such increase (the “Requested Increase Effective Date”),
the aggregate amount of such requested increase (the “Requested Increase Amount”), and shall (subject to clause (iii)
below) constitute an invitation to each of the Lenders under such Facility to increase its Commitment or Dollar Working Capital
Facility Uncommitted Tranche Portion, as applicable, under such Facility by its Commitment Percentage or Dollar Working Capital
Facility Uncommitted Tranche Percentage, as applicable, of such Requested Increase Amount.

 

(ii)          
Each Lender under such Facility, acting in its sole discretion and with no obligations to increase its Commitment or Dollar
Working Capital Facility Uncommitted Tranche Portion, as applicable, under such Facility pursuant to this Section 4.1(b),
shall by written notice to the U.S. Borrower and the Administrative Agent advise the U.S. Borrower and the Administrative Agent
whether or not such Lender agrees to all or any portion of such increase in its Commitment or Dollar Working Capital Facility Uncommitted
Tranche Portion, as applicable, under such Facility within ten (10) days after the U.S. Borrower’s request. Any such Lender
may accept all of its Commitment Percentage or Dollar Working Capital Facility Uncommitted Tranche Percentage, as applicable, of
such increase, a portion of such increase, or decline to accept any of such increase in its Commitment or Dollar Working Capital
Facility Uncommitted Tranche Portion, as applicable, under such Facility. If any such Lender shall not have responded affirmatively
within such ten (10) day period, such Lender shall be deemed to have rejected the U.S. Borrower’s request for an increase
in such Commitment or Dollar Working Capital Facility Uncommitted Tranche Portion, as applicable, in full. Promptly following the
conclusion of such ten (10) day period, the Administrative Agent shall notify the U.S. Borrower of the results of the request for
the applicable Facility Increase.

 

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(iii)         
If the aggregate amount of the increases in the Commitments or Total Dollar Working Capital Facility Uncommitted Tranche
Portions under any Facility which the Lenders under such Facility have accepted in accordance with Section 4.1(b)(ii)
shall be less than the Requested Increase Amount, the Administrative Agent (subject to the approval of the Administrative Agent
and the Issuing Lenders under such Facility, such approvals not to be unreasonably withheld, delayed or conditioned) may offer
to such additional Persons (including the Lenders under such Facility), as may be agreed by the U.S. Borrower and the Administrative
Agent, the opportunity to make available such amount of new Commitments or Dollar Working Capital Facility Uncommitted Tranche
Portions, as applicable, under such Facility as may be required so that the aggregate increases in the Commitments or Dollar Working
Capital Facility Uncommitted Tranche Portions, as applicable, under such Facility by the existing Lenders thereunder together with
such new Commitments or Dollar Working Capital Facility Uncommitted Tranche Portions, as applicable, by such other Persons (the
 “New Lenders”) shall equal the Requested Increase Amount (the aggregate Facility Increase provided by such existing
Lenders and the New Lenders, the “Increase Amount”). Such Increase Amount shall be in an amount equal to $5,000,000
or a whole multiple thereof. Notwithstanding the foregoing, with respect to up to $100,000,000 in Facility Increases, the Borrowers
may receive the Requested Increase Amount by, subject to the approval of the Administrative Agent and the Issuing Lenders under
the applicable Facility (such approvals not to be unreasonably withheld, delayed or conditioned), offering to such additional Persons
(including the Lenders under the applicable Facility), as may be agreed by the U.S. Borrower and the Administrative Agent, the
opportunity to make available such amount of new Commitments or Dollar Working Capital Facility Uncommitted Tranche Portions, as
applicable, under the applicable Facility. The effectiveness of all such increases (each such date, the applicable “Increase
Effective Date”) in the Commitments or Total Dollar Working Capital Facility Uncommitted Tranche Portions, as applicable,
under such Facility are subject to the satisfaction of the following conditions: (A) each Lender that so elects to increase
its Commitment or Dollar Working Capital Facility Uncommitted Tranche Portion, as applicable, under such Facility (each an “Increasing
Lender”), each New Lender, the Administrative Agent and the U.S. Borrower shall have executed and delivered an agreement,
substantially in the form attached hereto as Exhibit P (an “Increase and New Lender Agreement”);
(B)(i)(x) with respect to the Dollar Working Capital Facility, the aggregate Dollar Working Capital Facility Commitment plus
the Total Dollar Working Capital Facility Uncommitted Tranche Portions after giving effect to such increases shall not exceed $1,200,000,000
in the aggregate and (y) with respect to the Multicurrency Working Capital Facility, the aggregate Multicurrency Working Capital
Facility Commitment after giving effect to such increases shall not exceed $320,000,000; provided that the aggregate increases
under clauses (i)(x) and (i)(y) shall not exceed $470,000,000 and (ii) with respect to the Acquisition Facility, the
aggregate Acquisition Facility Commitments after giving effect to such increase shall not exceed $750,000,000; (C) any fees
and other amounts (including pursuant to Section 11.6) payable by the U.S. Borrower in connection with such increase
and accession shall have been paid; (D) no Default or Event of Default has occurred and is continuing or would result from
such increase in the Commitments or Total Dollar Working Capital Facility Uncommitted Tranche Portions; (E) delivery of an
Availability Certification dated as of the date of such increase and (F) with respect to each Mortgaged Property, the Administrative
Agent shall have received (1) such amendments to the Mortgage and Security Agreements or new Mortgage and Security Agreements
as are in form and substance reasonably satisfactory to the Administrative Agent, in each case, executed and delivered by a duly
authorized officer of the relevant Loan Party to the extent necessary to reflect the increase in the applicable Facility (it being
understood that, unless requested by the Administrative Agent, no amendment shall increase the amount secured thereby if the same
will result in the payment of additional mortgage recording tax) and (2) with respect to each such Mortgage and Security Agreement,
a date-down endorsement to the title insurance policy covering such Mortgage and Security Agreement (or if a date-down is not available
for a particular jurisdiction, a new title insurance policy in the same insured amount as originally issued or marked up unconditional
title commitment, pro forma policy or binder for such insurance) in each case in form and substance not materially less favorable
to the Administrative Agent or the Lenders as such title policies or marked up unconditional title commitments, pro forma policies
or binders delivered on or prior to the Restatement Effective Date, (3) evidence satisfactory to it that all premiums in respect
of a related date-down endorsement or title policy (or policies) have been paid and (4) to the extent required by applicable
Law, a standard flood hazard determination for each Mortgaged Property located in the United States, and with respect to any Mortgaged
Property in the United States that is located in a special flood hazard area and with respect to any Mortgaged Property located
in Canada in a flood plain, evidence of flood insurance in form and substance reasonably satisfactory to the Administrative Agent.
For the avoidance of doubt, Extensions of Credit made under any Facility Increase shall bear interest at the rate otherwise applicable
to corresponding Extensions of Credit under the applicable Facility.

 

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(iv)         
On any Increase Effective Date with respect to any Facility, (A) each Increasing Lender or New Lender thereof shall
make available to the Administrative Agent such amounts in immediately available funds as the Administrative Agent shall determine
for the benefit of the other Lenders under such Facility as being required in order to cause (after giving effect to such increase
and the use of such amounts to make payments to the other Lenders under such Facility) each Lender’s portion of the outstanding
Loans of all Lenders under such Facility to equal its Commitment Percentage or Adjusted Dollar Working Capital Facility Uncommitted
Tranche Percentage, as applicable, of such Loans, (B) the applicable Borrower shall be deemed to have repaid and reborrowed
all outstanding Loans of all the Lenders under such Facility to equal its Commitment Percentage or Adjusted Dollar Working Capital
Facility Uncommitted Tranche Percentage, as applicable, of such outstanding Loans as of the date of the applicable Facility Increase
(with such reborrowing to consist of the Types of Loans, with related Interest Periods, if applicable, specified in a notice delivered
by the applicable Borrower in accordance with the requirements of Section 4.3) and (C) the participations in Letters
of Credit shall be adjusted to reflect changes in the applicable Commitment Percentages or Adjusted Dollar Working Capital Facility
Uncommitted Tranche Percentage, as applicable. The deemed payments made pursuant to clause (B) of the immediately preceding
sentence in respect of each Eurocurrency Loan shall be subject to indemnification by the applicable Borrower pursuant to the provisions
of Section 4.14 if the deemed payment occurs other than on the last day of the related Interest Periods; provided,
that the Administrative Agent and each Lender shall cooperate with the Borrowers to reduce and/or eliminate any such indemnification
payments to the extent reasonably possible if such cooperation would not subject the Administrative Agent or such Lender, as applicable,
to any unreimbursed cost or expense and would not otherwise be disadvantageous to the Administrative Agent or such Lender.

 

(v)          
Upon the Increase Effective Date with respect to any Facility, Schedule 1.0 of the Increase and New Lender Agreement,
which shall reflect the Commitments and the Commitment Percentages, or the Total Dollar Working Capital Facility Uncommitted Tranche
Portions and Dollar Working Capital Facility Uncommitted Tranche Percentages, as applicable, of the Lenders under such Facility
at such time, shall be deemed to supersede Schedule 1.0 hereto without any further action or consent of any party.
The Administrative Agent shall cause a copy of such revised Schedule 1.0 to be available to the Issuing Lenders and
the Lenders.

 

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4.2           Interest
Rates and Payment Dates. (a)  Each Eurocurrency Loan shall bear interest for each day during each Interest Period
with respect thereto at a rate per annum equal to the Eurocurrency Rate for such Eurocurrency Loan determined for such
day plus the Applicable Margin.

 

(b)           Each Base Rate Loan (including Dollar Swing Line Loans and Multicurrency Swing Line Loans denominated in United States Dollars)
shall bear interest at a rate per annum equal to the Base Rate plus the Applicable Margin. Each Prime Rate Loan (including
Multicurrency Swing Line Loans denominated in Canadian Dollars) shall bear interest at a rate per annum equal to the Prime
Rate plus the Applicable Margin.

 

(c)            If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due after giving
effect to any applicable grace periods (whether at the stated maturity, by acceleration or otherwise), all outstanding Obligations
(whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (i) in
the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section
plus 2.00%, (ii) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans or (with respect
to Reimbursement Obligations in respect of Letters of Credit denominated in Canadian Dollars) Prime Rate Loans in respect of the
applicable Facility plus 2.00%, and (iii) in the case of any interest payable on any Loan or Reimbursement Obligation
or any commitment fee or other amount payable hereunder, at a rate per annum equal to the rate then applicable to Base Rate
Loans or (with respect to interest payable on any Loan denominated in Canadian Dollars or on any Reimbursement Obligations in respect
of Letters of Credit denominated in Canadian Dollars) Prime Rate Loans under the applicable Working Capital Facility plus
2.00%, in each case, from the date of such nonpayment after giving effect to any applicable grace periods until such amount not
paid when due is paid in full (after as well as before judgment).

 

(d)           Interest shall be payable in arrears on each Interest Payment Date or on the applicable date with respect to interest payable
pursuant to Section 4.2(c) above.

 

4.3            Conversion and Continuation Options. (a)  The applicable Borrower may elect from time to time to Convert
Eurocurrency Loans denominated in United States Dollars to Base Rate Loans or Convert Eurocurrency Loans denominated in Canadian
Dollars to Prime Rate Loans by giving the Administrative Agent at least two (2) Business Days’ prior irrevocable notice of
such election in the form attached hereto as Annex II (the “Continuation/Conversion Notice”), such
Continuation/Conversion Notice specifying the Facility of the Loans to be Converted and the amount and the date such Conversion
is to be made; provided that any such Conversion of Eurocurrency Loans may only be made on the last day of an Interest Period
with respect thereto. The applicable Borrower may elect from time to time to Convert Base Rate Loans or Prime Rate Loans to Eurocurrency
Loans by giving the Administrative Agent irrevocable notice of such election (in the form of a Continuation/Conversion Notice)
prior to 1:00 p.m. (New York City time) at its New York office, three (3) Business Days before the date of such election.
Any such notice of Conversion to Eurocurrency Loans shall specify the Facility of the Loans to be Converted, the amount to be Converted,
the date of such Conversion and the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such
notice the Administrative Agent shall promptly notify each Relevant Facility Lender thereof. All or any part of outstanding Eurocurrency
Loans, Base Rate Loans or Prime Rate Loans may be Converted as provided herein; provided that (i) no Base Rate Loan
or Prime Rate Loan may be Converted into a Eurocurrency Loan when any Event of Default has occurred and is continuing and the Administrative
Agent has or the Required Lenders have reasonably determined that such a Conversion is not appropriate and (ii) no Base Rate
Loan or Prime Rate Loan may be Converted into a Eurocurrency Loan after the date that is one (1) month prior to the Applicable
Facility Termination Date.

 

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(b)           Any Eurocurrency Loans may be Continued as such upon the expiration of the then current Interest Period with respect thereto
by the applicable Borrower giving the Administrative Agent irrevocable notice (in the form of a Continuation/Conversion Notice)
prior to 1:00 p.m. (New York City time), at its New York office, in each case, three (3) Business Days before the date such
Eurocurrency Loans are to be Continued, 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. If the applicable
Borrower fails to give timely notice requesting a Continuation, then the applicable Loans shall be converted to Base Rate Loans
(in the case of any Loans denominated in United States Dollars) or Prime Rate Loans (in the case of any Loans denominated in Canadian
Dollars). Any automatic Conversion to Base Rate Loans or Prime Rate Loans shall be effective as of the last day of the Interest
Period then in effect with respect to the applicable Eurocurrency Loans.

 

(c)           During the existence of an Event of Default, no Loan may be requested as, Converted to or Continued as Eurocurrency Loans
if the Required Lenders have reasonably determined that such a request, Conversion or Continuation is not appropriate.

 

4.4           Minimum Amounts of Tranches; Maximum Number of
Tranches. (a)  All borrowings, Conversions and Continuations of Loans hereunder and all selections of Interest Periods
hereunder shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, the aggregate principal
amount of the Eurocurrency Loans comprising each Tranche shall be equal to $1,000,000 or C$1,000,000, as applicable, or a whole
multiple of $100,000 or C$100,000, as applicable, in excess thereof.

 

(b)           No more than (i) an aggregate of twenty (20) Tranches of Eurocurrency Loans shall be outstanding at any one time
under the Acquisition Facility and the Dollar Working Capital Facility, (ii) five (5) Tranches of Eurocurrency Loans
denominated in United States Dollars shall be outstanding at any one time under the Multicurrency Working Capital Facility and
(iii) five (5) Tranches of Eurocurrency Loans denominated in Canadian Dollars shall be outstanding at any one time under
the Multicurrency Working Capital Facility; provided that for each Facility Increase in an aggregate principal amount of
$50,000,000, two (2) additional Tranches of Eurocurrency Loans may be outstanding under the relevant Facility (up to a maximum
of thirty-five (35) Tranches of Eurocurrency Loans for all Facilities) at any one time.

 

4.5           Repayment of Loans; Evidence of Debt. (a)  Each Borrower unconditionally promises to pay to the Administrative
Agent for the account of the appropriate Lender or to the relevant Issuing Lender, as applicable, the then unpaid principal amount
of each of its Acquisition Facility Loans and each of its Working Capital Facility Loans on the Maturity Date therefor. Each Borrower
hereby further agrees to pay interest on the unpaid principal amount of its Loans and Reimbursement Obligations from time to time
outstanding from the Restatement Effective Date until payment in full thereof at the rates per annum, and on the dates,
set forth in Section 4.2.

 

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(b)           Each Lender shall maintain in accordance with its usual practice a record or records setting forth all of the indebtedness
of the Borrowers to such Lender resulting from each Loan or other extension of credit hereunder of such Lender from time to time,
including the amounts of principal and interest payable and paid to such Lender from time to time under this Agreement.

 

(c)           The Administrative Agent, on behalf of the Borrowers, shall maintain the Register required by Section 11.7(d),
and shall include a subaccount therein for each Lender, in which it shall record (i) the amount of each Loan and a copy of
the Note, if any, evidencing such Loan, the Type thereof and each Interest Period applicable thereto, (ii) the amount of any
principal or interest or fee due and payable or to become due and payable from any Borrower to each Lender hereunder, (iii) the
amount of such Lender’s share of any Unreimbursed Amount and (iv) both the amount of any sum received by the Administrative
Agent hereunder from any Borrower and each Lender’s share thereof.

 

(d)           The entries made in the Register and the records of each Lender maintained pursuant to Section 4.5(b) shall,
to the extent permitted by applicable Law, be prima facie evidence of the existence and amounts of the obligations of the Borrowers
therein recorded (absent manifest error); provided, however, that the failure of any Lender or the Administrative
Agent to maintain the Register or any such account, or any error therein, shall not in any manner affect the obligation of any
Borrower to repay (with applicable interest) the Loans and other extensions of credit hereunder made to such Borrower by such Lender
in accordance with the terms of this Agreement.

 

(e)           Each Borrower agrees that, upon the request to the Administrative Agent by any Lender, such Borrower will execute and deliver
to such Lender a promissory note evidencing the Dollar Working Capital Facility Committed Tranche Loans, the Dollar Working Capital
Facility Uncommitted Tranche Loans, the Multicurrency Working Capital Facility Loans, the Dollar Committed Tranche Swing Line Loans,
the Dollar Uncommitted Tranche Swing Line Loans, the Multicurrency Swing Line Loans or the Acquisition Facility Loans, as applicable,
of such Lender, substantially in the form of Exhibit A-1, A-2, A-3, A-4, A-5, A-6 or
A-7 as applicable, with appropriate insertions as to date and principal amount (individually, a “Note” and,
collectively, the “Notes”).

 

4.6           Optional Prepayments. The Borrowers may at any time and from time to time prepay the Loans made to it, in whole or
in part, without premium or penalty, upon notice by the applicable Borrower in the form attached hereto as Annex III
(the “Notice of Prepayment”) delivered to the Administrative Agent (x) no later than 1:00 p.m. (New York
City time) at least three (3) Business Days prior to the proposed prepayment date in the case of Eurocurrency Loans, (y) no
later than 1:00 p.m. (New York City time) on the proposed prepayment date in the case of Base Rate Loans or Prime Rate Loans and
(z) not later than 1:00 p.m. (New York City time) on the proposed prepayment date in the case of Swing Line Loans, in each
case, which notice shall specify (x) the date and amount of prepayment, (y) which Loans shall be prepaid and (z) whether
the prepayment is of Base Rate Loans, Prime Rate Loans, Eurocurrency Loans or a combination thereof, and, if of a combination thereof,
the amount allocable to each; provided that if a Eurocurrency Loan is prepaid on any day other than the last day of the
Interest Period applicable thereto, or the applicable Borrower revokes any notice of prepayment previously delivered pursuant to
this Section 4.6 after the date/time specified above, the applicable Borrower shall also

 

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pay any amounts owing pursuant
to Section 4.14. Upon receipt of any such notice the Administrative Agent shall promptly notify each 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 any amounts payable pursuant to Section 4.14. Partial prepayments pursuant to this Section 4.6 shall
be in an aggregate principal amount of $100,000 or C$100,000, as applicable, or a whole multiple thereof. If any Borrower shall
make any prepayment of a Dollar Committed Tranche Swing Line Loan after 1:00 p.m. (New York City time) on the fifth Business Day
following the making of such Dollar Committed Tranche Swing Line Loan and the Dollar Committed Tranche Swing Line Lender shall
have requested from the applicable Lenders Refunded Dollar Committed Tranche Swing Line Loans in accordance with Section 2.6(a)
on account of such Dollar Committed Tranche Swing Line Loan, the Administrative Agent shall apply such prepayment in the following
order: first, to any other Dollar Committed Tranche Swing Line Loans outstanding at such time and second, to any
outstanding Dollar Working Capital Facility Committed Tranche Loans that are Base Rate Loans of such Borrower. If the amount of
such prepayment by any Borrower is greater than the outstanding amount of such Borrower’s Dollar Committed Tranche Swing
Line Loans and Dollar Working Capital Facility Committed Tranche Loans that are Base Rate Loans at the time such prepayment is
made, the Administrative Agent shall promptly remit the excess to such Borrower. If any Borrower shall make any prepayment of a
Dollar Uncommitted Tranche Swing Line Loan after 1:00 p.m. (New York City time) on the fifth Business Day following the making
of such Dollar Uncommitted Tranche Swing Line Loan and the Dollar Uncommitted Tranche Swing Line Lender shall have requested from
the applicable Lenders Refunded Dollar Uncommitted Tranche Swing Line Loans in accordance with Section 2.6(a) on account
of such Dollar Uncommitted Tranche Swing Line Loan, the Administrative Agent shall apply such prepayment in the following order:
first, to any other Dollar Uncommitted Tranche Swing Line Loans outstanding at such time and second, to any outstanding
Dollar Working Capital Facility Uncommitted Tranche Loans that are Base Rate Loans of such Borrower. If the amount of such prepayment
by any Borrower is greater than the outstanding amount of such Borrower’s Dollar Uncommitted Tranche Swing Line Loans and
Dollar Working Capital Facility Uncommitted Tranche Loans that are Base Rate Loans at the time such prepayment is made, the Administrative
Agent shall promptly remit the excess to such Borrower. If any Borrower shall make any prepayment of a Multicurrency Swing Line
Loan after 1:00 p.m. (New York City time) on the fifth Business Day following the making of such Multicurrency Swing Line Loan
and the Multicurrency Swing Line Lender shall have requested from the applicable Lenders Refunded Multicurrency Swing Line Loans
in accordance with Section 2.6(a) on account of such Multicurrency Swing Line Loan, the Administrative Agent shall
apply such prepayment in the following order: first, to any other Multicurrency Swing Line Loans outstanding at such time
and second, ratably to any outstanding Multicurrency Working Capital Facility Loans that are Base Rate Loans or Prime Rate
Loans of such Borrower. If the amount of such prepayment by any Borrower is greater than the outstanding amount of such Borrower’s
Multicurrency Swing Line Loans and Multicurrency Working Capital Facility Loans that are Base Rate Loans or Prime Rate Loans at
the time such prepayment is made, the Administrative Agent shall promptly remit the excess to such Borrower.

 

4.7           Mandatory Prepayments. (a)  If on any date, the sum of the Total Working Capital Facility Extensions of
Credit and the Acquisition Facility Working Capital Extensions of Credit exceeds the Aggregate Borrowing Base Amount, then (i) the
U.S. Borrower shall specify, at its sole discretion, one or more of the Working Capital Facility Loans, the Acquisition Facility
Working Capital Loans or the Swing Line Loans of the Borrowers to be prepaid and the Borrowers shall prepay such Loan or Loans,
and/or (ii) the Borrowers shall Cash Collateralize, replace or decrease (if the beneficiary of such Letter of Credit agrees
to such decrease) the amount of outstanding Working Capital Facility Letters of Credit or Acquisition Facility Working Capital
Letters of Credit by an amount sufficient to eliminate such excess, no later than three (3) Business Days immediately following
such date.

 

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(b)           If on any date (i) the Total Acquisition Facility Acquisition Extensions of Credit shall exceed the Eligible Acquisition
Asset Value, (ii) the Total Acquisition Facility Acquisition Extensions of Credit shall exceed the aggregate Acquisition Facility
Commitments, (iii) the Total Dollar Working Capital Facility Committed Tranche Extensions of Credit shall exceed the aggregate
Dollar Working Capital Facility Commitments, (iv) the Total Dollar Working Capital Facility Uncommitted Tranche Extensions of Credit
shall exceed the Total Dollar Working Capital Facility Uncommitted Tranche Portions, (v) the Total Multicurrency Working Capital
Facility Extensions of Credit shall exceed the aggregate Multicurrency Working Capital Facility Commitments and/or (vi) any
extension of credit under this Agreement shall result in any Applicable Sub-Limit (with each Applicable Sub-Limit calculated including
the Dollar Equivalent of any included Extensions of Credit denominated in Canadian Dollars) being exceeded, then (A) the U.S.
Borrower shall specify, at its sole discretion, one or more Loans of the Borrowers to be prepaid and the Borrowers shall prepay
such Loans and/or (B) the Borrowers shall Cash Collateralize, replace or decrease (if the beneficiary of such Letter of Credit
agrees to such decrease) the amount of outstanding Letters of Credit by an amount sufficient to eliminate such excess, no later
than three (3) Business Days immediately following such date.

 

(c)            Unless the Required Lenders shall otherwise agree, if on any date any Borrower or any other Loan Party shall receive Net
Cash Proceeds from any individual Asset Sale or Recovery Event, then, unless a Reinvestment Notice shall be delivered in respect
thereof within three (3) Business Days thereafter, 100% of such Net Cash Proceeds shall be applied on such third Business
Day toward the prepayment of the relevant Loans (provided, however, that the U.S. Borrower shall specify, at its
sole discretion, the Loans of the Borrowers to be so prepaid) and Cash Collateralization of the relevant Letters of Credit in accordance
with (d), (e) and (f); provided that, notwithstanding the foregoing, on each Reinvestment Prepayment Date, an amount equal
to the Reinvestment Prepayment Amount with respect to the relevant Reinvestment Event shall be applied toward the prepayment of
the relevant Loans and Cash Collateralization of the relevant Letters of Credit as set forth in (d) and (e).

 

(d)           Amounts prepaid pursuant to Section 4.7(c) from the proceeds of Asset Sales or Recovery Events with respect
to Acquisition Assets shall be applied, first, to the prepayment of the Acquisition Facility Acquisition Loans that are
Base Rate Loans, second, to the prepayment of the Acquisition Facility Acquisition Loans that are Eurocurrency Loans, third,
to the Cash Collateralization of the Acquisition Facility Acquisition Letters of Credit, fourth, to the prepayment of the
Swing Line Loans (ratably among the Working Capital Facilities), fifth, to the prepayment of Acquisition Facility Working
Capital Loans that are Base Rate Loans, sixth, to the prepayment of Acquisition Facility Working Capital Loans that are
Eurocurrency Loans, seventh, to the Cash Collateralization of the Acquisition Facility Working Capital Letters of Credit,
eighth, to the prepayment of Working Capital Facility Loans that are Base Rate Loans or Prime Rate Loans (ratably among
the Working Capital Facilities and, within the Multicurrency Working Capital Facility, ratably among the Base Rate Loans and the
Prime Rate Loans), ninth, to the prepayment of Working Capital Facility Loans that are Eurocurrency Loans (ratably among
the Working Capital Facilities), and tenth, to the Cash Collateralization of the Working Capital Facility Letters of Credit
(ratably among the Working Capital Facilities).

 

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(e)            Amounts prepaid pursuant to Section 4.7(c) from the proceeds of Asset Sales or Recovery Events with respect
to assets included in the U.S. Borrowing Base or the Kildair Borrowing Base shall be applied, first, to the prepayment of
the Swing Line Loans (ratably among the Working Capital Facilities), second, to the prepayment of Acquisition Facility Working
Capital Loans that are Base Rate Loans, third, to the prepayment of Acquisition Facility Working Capital Loans that are
Eurocurrency Loans, fourth, to the Cash Collateralization of the Acquisition Facility Working Capital Letters of Credit,
fifth, to the prepayment of Working Capital Facility Loans that are Base Rate Loans or Prime Rate Loans (ratably among the
Working Capital Facilities and, within the Multicurrency Working Capital Facility, ratably among the Base Rate Loans and the Prime
Rate Loans), sixth, to the prepayment of Working Capital Facility Loans that are Eurocurrency Loans (ratably among the Working
Capital Facilities), seventh, to the Cash Collateralization of the Working Capital Facility Letters of Credit (ratably among
the Working Capital Facilities), eighth, to the prepayment of the Acquisition Facility Acquisition Loans that are Base Rate
Loans, ninth, to the prepayment of the Acquisition Facility Acquisition Loans that are Eurocurrency Loans, and tenth,
to the Cash Collateralization of the Acquisition Facility Acquisition Letters of Credit.

 

(f)            The applicable Borrower shall notify the Administrative Agent (and, in the case of prepayment of a Swing Line Loan, the
applicable Swing Line Lenders) by written notice of any prepayment hereunder (i) in the case of prepayment of a Eurocurrency
Loan, not later than 1:00 p.m. (New York City time), three (3) Business Days before the date of the prepayment, (ii) in
the case of prepayment of a Base Rate Loan or Prime Rate Loan, not later than 1:00 p.m. (New York City time) on the date of the
prepayment and (iii) in the case of prepayment of a Swing Line Loan, not later than 1:00 p.m. (New York City time) on the
date of prepayment. Each such notice shall specify the prepayment date, the principal amount of each Loan or portion thereof to
be prepaid and, in the case of a mandatory prepayment, a reasonably detailed calculation of the required amount of such prepayment.
Promptly following receipt of any such notice (other than a notice relating solely to Swing Line Loans), the Administrative Agent
shall advise the Lenders of the contents thereof. Each prepayment of an extension of credit shall be applied ratably to the Loans
included in the prepaid extension of credit and otherwise in accordance with this Section 4.7(f). Prepayments shall
be accompanied by accrued interest to the extent required by Section 4.2.

 

(g)           Any prepayment of Loans pursuant to this Section 4.7, and the rights of the Lenders in respect thereof, are
subject to the provisions of Section 4.9.

 

(h)           For the avoidance of doubt, no amounts prepaid under this Section 4.7 shall permanently reduce any Commitments
or any Dollar Working Capital Facility Uncommitted Tranche Portions.

 

4.8           Computation
of Interest and Fees. (a)  All fees and interest hereunder shall be calculated on the basis of a 360-day year for
the actual days elapsed, except that (i) interest on Base Rate Loans calculated using clause (b) of the definition of
 “Base Rate”, (ii) interest on Prime Rate Loans calculated using clause (a) of the definition of “Prime
Rate” and (iii) interest on Eurocurrency Loans denominated in Canadian Dollars shall, in each case, be calculated on
the basis of a 365/366-day year, as the case may be, for the actual days elapsed. The Administrative Agent shall as soon as practicable
notify the U.S. Borrower and the Lenders of each determination of each Eurocurrency Rate for any Eurocurrency Loans outstanding.
Any change in the interest rate on a Loan resulting from a change in the Base Rate or Prime Rate 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 U.S. Borrower and the 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 Borrowers and the Lenders in the absence of manifest error. The Administrative Agent shall, at the
request of the U.S. Borrower, deliver to the U.S. Borrower a statement showing the quotations used by the Administrative Agent
in determining any interest rate pursuant to Section 4.2(a).

 

4.9           Pro Rata Treatment and Payments. (a)  Other than as expressly set forth herein, each borrowing by any Borrower
from the Lenders hereunder and any reduction of the Commitments or Total Dollar Working Capital Facility Uncommitted Tranche Portions
under any Facility shall be made pro rata according to the respective Commitment Percentages or Dollar Working Capital Facility
Uncommitted Tranche Percentages, as applicable, of the Lenders under such Facility. Other than as expressly set forth herein, each
payment (including each prepayment) by any Borrower on account of principal of and interest and fees on the Loans and Reimbursement
Obligations under any Facility shall be made pro rata according to the respective outstanding principal amounts of such
Borrower’s Loans and Reimbursement Obligations under such Facility, respectively, then held by the Lenders.

 

(b)           All payments (including prepayments) to be made by any Borrower hereunder on account of principal of Loans (other than Base
Rate Loans or Prime Rate Loans on any day other than the Maturity Date of such Loans) shall be accompanied by a payment in an amount
equal to all accrued and unpaid interest on such Loans. All payments (including prepayments) to be made by any Borrower hereunder,
whether on account of principal, interest, fees or otherwise, shall be made without set-off 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 office of the Administrative Agent specified in Section 11.2 in United States Dollars or Canadian Dollars, as
applicable, in immediately available funds. The Administrative Agent shall distribute such payments to the appropriate Lenders
promptly upon receipt in like funds as received. If any payment hereunder (other than payments on Eurocurrency Loans) becomes due
and payable on a day other than a Business Day, such payment obligation shall be extended to the next succeeding Business Day,
and, with respect to payments of principal, interest thereon shall be payable at the then applicable rate during such extension.
If any payment on a Eurocurrency 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.

 

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(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 Commitment Percentage or Dollar Working Capital Facility Uncommitted Tranche
Percentage 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 applicable 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 daily average NYFRB Rate (in the case of United States Dollar denominated amounts) or the Administrative
Agent’s cost of funds (in the case of Canadian Dollar denominated amounts) for the period until such Lender makes such amount
immediately available to the Administrative Agent. A certificate of the Administrative Agent submitted to any Lender with respect
to any amounts owing under this Section 4.9 shall be conclusive in the absence of manifest error. If such Lender’s
Commitment Percentage or Dollar Working Capital Facility Uncommitted Tranche Percentage of such borrowing is not made available
to the Administrative Agent by such Lender within three (3) 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 Base Rate Loans
(in the case of amounts denominated in United States Dollars) or Prime Rate Loans (in the case of amounts denominated in Canadian
Dollars) on demand from the applicable Borrower (without duplication of the interest otherwise applicable thereto).

 

(d)           Subject to Sections 4.7(d) and (e) and Section 4.18, the application of any payment of Loans (including
optional and mandatory prepayments), along with the application of any proceeds obtained upon the exercise of remedies by the Administrative
Agent for the Lenders hereunder or under any Loan Document, shall be made to each Lender based upon its applicable Commitment Percentage
or Adjusted Dollar Working Capital Facility Uncommitted Tranche Percentage, first, to Base Rate Loans and Prime Rate Loans,
ratably, and, second, to Eurocurrency Loans, ratably. Each payment of the Eurocurrency Loans shall be accompanied by accrued
interest to the date of such payment on the amount paid.

 

4.10         
Requirements of Law. (a)  If the adoption of or any change in any Requirement of Law or in the interpretation
or application thereof or compliance by any Lender, the Administrative Agent with any request or directive (whether or not having
the force of law) from any central bank or other Governmental Authority made subsequent to the Restatement Effective Date:

 

(i)       does or shall subject any Lender or the Administrative Agent to any Taxes (other than (x) Non-Excluded Taxes, (y) Taxes
described in clauses (ii) through (iv) of the definition of Non-Excluded Taxes and (z) 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;

 

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(ii)      does or shall impose, modify or hold applicable any reserve, special deposit, compulsory loan, insurance charge 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 which is not otherwise included in the determination
of the Eurocurrency Rate; or

 

(iii)     does or shall impose on such Lender any other condition, cost or expense (other than Taxes); and the result of any of the
foregoing is to increase the cost to such Lender or the Administrative Agent of making, Converting into, Continuing or maintaining
this Agreement or any other Loan Document, any Loan or issuing, providing and maintaining any Letter of Credit or holding an interest
in any Issuing Lender’s obligations thereunder, or to reduce any amount receivable by the Lender or the Administrative Agent
in respect thereof, then the Lender or the Administrative Agent shall use reasonable efforts to designate a different Applicable
Lending Office for funding or booking Loans or issuing Letters of Credit if, in the judgment of such Lender or the Administrative
Agent, as applicable, such designation (x) would eliminate or reduce amounts payable pursuant to this Section 4.10
or eliminate the need to provide the notice specified in clause (c) of this Section 4.10 and (y) would not
subject such Lender or the Administrative Agent to any unreimbursed cost or expense and would not otherwise be disadvantageous
to such Lender or the Administrative Agent;

 

then, in any such case, and to the extent
that such cost is not fully compensated for by an adjustment to the Eurocurrency Rate, the Base Rate, the Prime Rate or any fee
on a Letter of Credit or mitigated pursuant to a change in such Lender’s Applicable Lending Office, the Borrowers shall promptly,
after receiving notice as specified in clause (c) of this Section 4.10, pay such Lender or the Administrative
Agent, as applicable, such additional amount or amounts as will compensate such Lender or the Administrative Agent for such increased
cost or reduced amount receivable on a net after-Tax basis.

 

(b)           If any Lender shall have determined that the adoption of or any change in any Requirement of Law regarding capital adequacy
or liquidity or in the interpretation or application thereof or compliance by such Lender or any corporation controlling such Lender
with any request or directive regarding capital adequacy or liquidity (whether or not having the force of law) from any Governmental
Authority made subsequent to the Restatement Effective Date shall have the effect of reducing the rate of return on such Lender’s
or such corporation’s capital as a consequence of its obligations hereunder to a level below that which such Lender or such
corporation could have achieved but for such adoption, change or compliance (taking into consideration such Lender’s or such
corporation’s policies with respect to capital adequacy and liquidity) by an amount deemed by such Lender to be material,
then from time to time, the Borrowers shall promptly pay to such Lender such additional amount or amounts as will compensate such
Lender for such reduction on a net after-Tax basis.

 

(c)            If any Lender becomes entitled to claim any additional amounts pursuant to this Section 4.10, it shall promptly
notify the U.S. Borrower (with a copy to the Administrative Agent) of the event by reason of which it has become so entitled. A
certificate prepared in good faith as to any additional amounts payable pursuant to this Section 4.10 submitted by
such Lender to the U.S. Borrower (with a copy to the Administrative Agent) shall be conclusive in the absence of manifest error.
The agreements in this Section 4.10 shall survive the termination of this Agreement and the payment of the Loans, Reimbursement
Obligations and all other amounts payable hereunder. No Lender shall be entitled to claim any additional amounts pursuant to Section 4.10(a)
and (b) for circumstances which occurred more than 180 days prior to the date such Lender makes a request for payment hereunder.

 

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(d)           It is agreed and understood that, for all purposes under this Agreement (including for purposes of this Section 4.10
and Section 4.11) that (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules,
guidelines, requirements or directives thereunder or issued in connection therewith on in implementation thereof and (ii) all
requests, rules, guidelines, requirements 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, Canadian (including the Office of the Superintendent
of Financial Institutions) or other foreign regulatory authorities, in each case pursuant to Basel III, shall in each case
be deemed to be an adoption or change in a Requirement of Law made subsequent to the Restatement Effective Date, regardless of
the date enacted, adopted, implemented or issued.

 

4.11         Taxes.
(a)  Any and all payments by or on behalf of each Loan Party or the Administrative Agent under or in respect of this
Agreement or any other Loan Documents to which such Loan Party is a party shall, unless otherwise required by law, be made free
and clear of, and without deduction or withholding for or on account of, any and all present or future taxes, levies, imposts,
deductions, charges or withholdings, and all liabilities (including penalties, interest and additions to tax) with respect thereto,
whether now or hereafter imposed, levied, collected, withheld or assessed by any taxation authority or other Governmental Authority
(collectively, “Taxes”). If any Loan Party or the Administrative Agent shall be required under any Requirement
of Law to deduct or withhold any Taxes from or in respect of any sum payable under or in respect of this Agreement, the Loans,
the Letters of Credit or any of the other Loan Documents to the Administrative Agent or any Lender (including for purposes of
this Section 4.11 and Section 4.10 any assignee, successor or participant), as determined in good faith
by the applicable Loan Party or the Administrative Agent, (i) such Loan Party or the Administrative Agent shall make all
such deductions and withholdings in respect of Taxes, (ii) such Loan Party or the Administrative Agent shall pay the full
amount deducted or withheld in respect of Taxes to the relevant taxation authority or other Governmental Authority in accordance
with any Requirement of Law, and (iii) in the case of any Non-Excluded Taxes, the sum payable by such Loan Party shall be
increased as may be necessary so that after such Loan Party or the Administrative Agent has made all required deductions and withholdings
(including deductions and withholdings applicable to additional amounts payable under this Section 4.11) such Lender
or the Administrative Agent receives an amount equal to the sum it would have received had no such deductions or withholdings
been made or required in respect of Non-Excluded Taxes. For purposes of this Agreement the “Non-Excluded Taxes” are
Taxes other than (i) Taxes imposed on or measured by net income (however denominated), franchise Taxes and branch profits Taxes,
in each case (A) imposed as a result of such Lender or Administrative Agent being organized under the laws of, or having its principal
office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political
subdivision thereof) or (B) that are Other Connection Taxes, (ii) in the case of a Lender, U.S. federal withholding Taxes imposed
on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant
to a law in effect on the date on which (A) such Lender acquires such interest in the Loan or Commitment (other than pursuant
to an assignment request by the Borrowers under Section 4.17) or (B) such Lender changes its lending office, except in
each case to the extent that, pursuant to this Section, 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,
(iii) Taxes attributable to such Lender’s or Administrative Agent’s failure to comply with subsection (e) of this
Section, (iv) any withholding Taxes imposed under FATCA and (v) any Canadian withholding tax imposed by Part XIII of the Income
Tax Act (Canada) that would not have been imposed but for the Administrative Agent or a Lender not dealing at arm’s
length (within the meaning of the Income Tax Act (Canada)) with the applicable Canadian Loan Party, except where the non-arm’s
length relationship arises, on account of the Administrative Agent or such Lender having executed, delivered, become party to,
performed obligations or received payments under, received or perfected a Lien or engaged in any other transaction pursuant to,
enforced, or sold or assigned an interest in, any Loan or Loan Document. For the avoidance of doubt, the exclusions described
in the preceding sentence will apply to the same effect to direct or indirect beneficial owners of a Lender that is fiscally transparent.

 

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(b)           In addition, each Loan Party hereby agrees to pay any present or future stamp, recording, documentary, excise, property
or value-added taxes, or similar Taxes, charges or levies that arise from any payment made under or in respect of this Agreement
or any other Loan Document or from the execution, delivery or registration of, any performance under, or otherwise with respect
to, this Agreement or any other Loan Document (collectively, “Other Taxes”).

 

(c)            Each Loan Party hereby agrees to indemnify each Lender that is not fiscally transparent and, in the case of a Lender that
is fiscally transparent, its direct or indirect beneficial owners for which such Loan Party has received proof of such ownership
and entitlement to the benefits of this Section 4.11 (subject to the same conditions for, and exclusions from indemnification
as are applicable to a Lender that is not fiscally transparent), and the Administrative Agent for, and to hold each harmless against,
the full amount of Non-Excluded Taxes and Other Taxes, and the full amount of Taxes of any kind imposed by any jurisdiction on
amounts payable under this Section 4.11 imposed on or paid by such Lender or the Administrative Agent, and any liability
(including penalties, additions to tax, interest and expenses) arising therefrom or with respect thereto. The indemnity by the
Loan Parties provided for in this Section 4.11(c) shall apply and be made whether or not the Non-Excluded Taxes or
Other Taxes for which indemnification hereunder is sought have been correctly or legally asserted. Amounts payable by any Loan
Party under the indemnity set forth in this Section 4.11(c) shall be paid within ten (10) days from the date on which
the Lender or Administrative Agent makes written demand therefor.

 

(d)           Within thirty (30) days after the date of any payment of Taxes, the applicable Loan Party (or any Person making such
payment on behalf of the Loan Parties) shall furnish to such Lender and/or the Administrative Agent for its own account a certified
copy of the original official receipt evidencing payment thereof or evidence of such payment as is reasonably satisfactory to such
Lender or the Administrative Agent.

 

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(e)            (i)  If any Lender or the Administrative Agent is entitled to an exemption from or reduction of withholding Tax
with respect to payments made under any Loan Document, such Lender or the Administrative Agent, as applicable, shall deliver to
the applicable Borrower or the Administrative Agent, at the time or times reasonably requested by the applicable Borrower or the
Administrative Agent, such properly completed and executed documentation reasonably requested by the applicable Borrower or the
Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition,
any Lender or the Administrative Agent, if reasonably requested by the applicable Borrower or the Administrative Agent, shall deliver
such other documentation prescribed by applicable law or reasonably requested by the applicable Borrower or the Administrative
Agent as will enable the applicable Borrower or the Administrative Agent to determine whether or not such Lender or the Administrative
Agent 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 Section 4.11(e)(ii)(A),
(ii)(B) and (ii)(D) below and any documentation required for Canadian withholding Tax purposes) shall not be required
if in the Lender’s or Administrative Agent’s reasonable judgment such completion, execution or submission would subject
such Lender or the Administrative Agent to any material unreimbursed cost or expense or would materially prejudice the legal or
commercial position of such Lender or the Administrative Agent.

 

(ii)      Without
limiting the generality of the foregoing:

 

(A)          any
Lender that is a U.S. Person shall deliver to the applicable Borrower and the Administrative Agent on or prior to the date
on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the
applicable Borrower or the Administrative Agent), executed copies of IRS Form W-9 certifying that such Lender is exempt from U.S. federal
backup withholding tax;

 

(B)           any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the applicable Borrower and the Administrative
Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes
a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the applicable Borrower or the Administrative
Agent), whichever of the following is applicable:

 

(1)         in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with
respect to payments of interest under any Loan Document, executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E (as
applicable) establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest”
article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN
or IRS Form W-8BEN-E (as applicable) establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant
to the “business profits” or “other income” article of such tax treaty;

 

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(2)        executed
copies of IRS Form W-8ECI;

 

(3)        in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c)
of the Code, (x) a certificate substantially in the form of Exhibit D-1 to the effect that such Foreign Lender
is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder”
of the applicable Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation”
described in Section 881(c)(3)(C) of the Code (a “Section 4.11 Certificate”) and (y) executed copies
of IRS Form W-8BEN or IRS Form W-8BEN-E (as applicable); or

 

(4)         to the extent a Foreign Lender is not the beneficial owner, executed copies of IRS Form W-8IMY, accompanied by IRS Form
W-8ECI, IRS Form W-8BEN, IRS Form W-8BEN-E, a Section 4.11 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 Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the
portfolio interest exemption, such Foreign Lender may provide a Section 4.11 Certificate substantially in the form of Exhibit D-4
on behalf of each such direct and indirect partner;

 

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

 

(D)           if
a payment made to a Lender or the Administrative Agent under any Loan Document would be subject to U.S. federal withholding
Tax imposed by FATCA if such Lender or the Administrative Agent 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 or the Administrative
Agent shall deliver to the applicable Borrower or the Administrative Agent at the time or times prescribed by law and at such
time or times reasonably requested by the applicable 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 applicable Borrower or the Administrative Agent as may be necessary for the applicable Borrower or the Administrative Agent
to comply with their obligations under FATCA and to determine that such Lender or the Administrative Agent has complied with its
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 the Restatement Effective Date.

 

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Each Lender and the Administrative
Agent 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 applicable Borrower and the Administrative Agent in writing of
its legal inability to do so.

 

(f)            Without
prejudice to the survival of any other agreement of the Loan Parties hereunder, the agreements and obligations of the Loan Parties
contained in this Section 4.11 shall survive the termination of this Agreement and the other Loan Documents. Nothing
contained in Section 4.10 or this Section 4.11 shall require the Administrative Agent or any Lender to
make available any of its tax returns or any other information that it deems to be confidential or proprietary.

 

(g)           For
purposes of determining withholding Taxes imposed under FATCA, from and after the Restatement Effective Date, the Borrowers and
the Administrative Agent shall treat (and the Lenders hereby authorize the Administrative Agent to treat) the Existing Credit
Agreement as not qualifying as a “grandfathered obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).

 

(h)           On the Restatement Effective Date, the Administrative Agent (or, on any date thereafter, any successor or replacement Administrative
Agent) shall deliver to the applicable Borrower two duly executed originals of either (i) IRS Form W-9 or IRS Form W-8BEN-E,
or (ii) such other documentation as the applicable Borrower may reasonably request for purposes of establishing that the applicable
Borrower can make payments to the Administrative Agent without deduction or withholding of any Taxes imposed by the United States
or Canada.

 

(i)             If any Lender requests compensation under Section 4.10 or requires any Borrower to pay any Non-Excluded Taxes or
additional amounts to any Lender or any Governmental Authority for  the account of any Lender pursuant to this Section
4.11, then such Lender shall (at the request of the Borrowers) use reasonable efforts to designate a different lending office
for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches
or affiliates, if, in the judgment of such Lender, such designation or assignment (A) would reduce or eliminate amounts payable
pursuant to Section 4.10 or this Section 4.11 or, as the case may be, in the future and (B) would not subject such Lender to any
unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender.  Each Borrower hereby agrees to pay
all reasonable costs and expense incurred by any Lender in connection with any such designation or assignment.

 

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(j)             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 (j) (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 (j), in no event will the indemnified party be required to pay any amount to an
indemnifying party pursuant to this paragraph (j) 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.

 

4.12         
Lending Offices. Loans of each Type made by any Lender shall be made and maintained at such Lender’s Applicable
Lending Office for Loans of such Type.

 

4.13         
Credit Utilization Reporting. Within five (5) Business Days after the end of each calendar month, each Issuing
Lender shall deliver a report to the Administrative Agent, substantially in the form of Annex IV (a “Credit
Utilization Summary”), setting forth, for each Letter of Credit issued or provided by such Issuing Lender, (i) the
currency and the amount available to be drawn or utilized under such Letters of Credit as of the end of such calendar month and
(ii) the amount of any drawings, payments or reductions of such Letters of Credit during such month, in each case, on an aggregate
and per Letter of Credit basis. Upon receiving notice from any Borrower or the beneficiary under a Letter of Credit issued or provided
by such Issuing Lender of a reduction or termination of such Letter of Credit, each Issuing Lender shall notify the Administrative
Agent thereof.

 

4.14         
Indemnity. Each Borrower agrees to indemnify each Lender and to hold each Lender harmless from any actual loss or
expense (other than, in the case of expenses, any administrative, processing or similar fee in respect thereof exceeding $100 for
each affected Lender for each relevant event) which such Lender sustains or incurs as a result of (a) default by such Borrower
in making a borrowing of, Conversion into or Continuation of Eurocurrency Loans after such Borrower has given a notice requesting
the same in accordance with the provisions of this Agreement, (b) default by such Borrower in making any prepayment of a Eurocurrency
Loan after such Borrower has given a notice thereof in accordance with the provisions of this Agreement or (c) the making
of a prepayment of Eurocurrency Loans on a day which is not the last day of an Interest Period with respect thereto. This covenant
shall survive the termination of this Agreement and the payment of the Loans, Reimbursement Obligations and all other amounts payable
hereunder. No Lender shall be entitled to claim any additional amounts pursuant to this Section 4.14 for circumstances
which occurred more than 180 days prior to the date such Lender makes a request for payment hereunder.

 

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4.15         
Market Disruption and Inability to Determine Interest Rate. (a)  [Reserved]

 

(b)           
If prior to the first day of any Interest Period for a Eurocurrency Loan other than, in each case, as a result of a Benchmark
Transition Event or an Early Opt-in Election:

 

(i)            
the Administrative Agent shall have determined (which determination shall be conclusive and binding upon the Borrowers)
that, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining the
Eurocurrency Base Rate or the Eurocurrency Rate, as applicable, for a Loan in the applicable currency for such Interest Period;
or

 

(ii)          
the Administrative Agent shall have received notice from the Majority Facility Lenders in respect of any Facility that the
Eurocurrency Base Rate or the Eurocurrency Rate, as applicable, for a Loan in the applicable currency or for the applicable Interest
Period will not adequately and fairly reflect the cost to such Lenders of making or maintaining their affected Eurocurrency Loans
under such Facility during such Interest Period;

 

then the Administrative Agent shall give
telecopy or telephonic notice thereof to the U.S. Borrower and the relevant Lenders as soon as practicable thereafter. If such
notice is given with respect to the Eurocurrency Base Rate or Eurocurrency Rate applicable to Eurocurrency Loans under any Facility,
(x) any such Eurocurrency Loan requested to be made under such Facility on the first day of such Interest Period shall be
made as a Base Rate Loan (in the case of a Loan denominated in United States Dollars) or a Prime Rate Loan (in the case of a Loan
denominated in Canadian Dollars), (y) any Base Rate Loans or Prime Rate Loans under such Facility that were to have been Converted
on the first day of such Interest Period to Eurocurrency Loans shall not be so Converted and shall continue as Base Rate Loans
or Prime Rate Loans, as applicable, and (z) any outstanding Eurocurrency Loans under such Facility shall be Converted on the
first day of such Interest Period to Base Rate Loans (in the case of Loans denominated in United States Dollars) or Prime Rate
Loans (in the case of Loans denominated in Canadian Dollars). Until such notice has been revoked by the Administrative Agent, no
further Eurocurrency Loans under such Facility shall be made or Continued as such, nor shall the Borrowers have the right to Convert
Loans under such Facility into such Type.

 

(c)           
The Administrative Agent shall promptly revoke (i) any such notice pursuant to clause (b)(i) above if the Administrative
Agent determines that adequate and reasonable means exist for ascertaining the relevant Eurocurrency Loan for the applicable Interest
Period and (ii) any such notice pursuant to clause (b)(ii) above upon receipt of notice from the requisite Lenders under
the applicable Facility necessary to give such notice in clause (b)(ii) that the relevant circumstances described in such
clause (b)(ii) have ceased to exist.

 

4.16        
Illegality. Notwithstanding any other provision herein, if the adoption of or any change in any Requirement of Law
or in the interpretation or application thereof shall make it unlawful for any Lender to make or maintain Eurocurrency Loans as
contemplated by this Agreement, (a) the commitment of such Lender hereunder to make (or consider making) Eurocurrency Loans,
Continue Eurocurrency Loans as such and Convert Base Rate Loans or Prime Rate Loans to Eurocurrency Loans shall forthwith be suspended
to the extent necessary for such Lender to avoid any such unlawful action until such Lender notifies the Administrative Agent that
it is lawful to make or maintain Eurocurrency Loans as contemplated by this Agreement, provided, however, that notwithstanding
the suspension contemplated by this clause (a), the commitment of such Lender hereunder to make (or consider making) Base
Rate Loans and/or Prime Rate Loans shall continue to be in effect, and (b) such Lender’s Loans then outstanding as Eurocurrency
Loans, if any, shall be Converted automatically to available and lawful Interest Periods, if any, or Base Rate Loans (in the case
of Loans denominated in United States Dollars) or Prime Rate Loans (in the case of Loans denominated in Canadian Dollars), at the
option of the applicable Borrower, on the respective last days of the then current Interest Periods with respect to such Loans
or within such earlier period as required by law. If any such Conversion of a Eurocurrency Loan occurs on a day which is not the
last day of the then current Interest Period with respect thereto, the applicable Borrower shall pay to such Lender such amounts,
if any, as may be required pursuant to Section 4.14.

 

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4.17         
Replacement of Lenders. If (a)(i)(A) any Borrower is required to pay any additional amount to or indemnify any
Lender pursuant to Section 4.11 or (B) any Lender requests compensation under Section 4.10, and (ii) in
the case of Section 4.11, a Lender has declined to designate a different Applicable Lending Office, (b) any Lender
invokes Section 4.16, (c) any Lender becomes a Defaulting Lender or a Declining Lender, or (d) any Lender
has failed to consent to a proposed amendment, waiver or other modification that, pursuant to the terms of Section 11.1,
requires the consent of all the Lenders, or all affected Lenders, and with respect to which the Required Lenders shall have granted
their consent, then, in each case, so long as no Default or Event of Default shall have occurred and be continuing, the Borrowers
may, at the sole cost and expense of the Borrowers, upon notice to such Lender and the Administrative Agent, require such Lender
to assign and delegate, without recourse (in accordance with and subject to the restrictions and obligations contained in Section 11.7),
all of its interests, rights (other than its existing rights to payments pursuant to Sections 4.10 and 4.11)
and obligations under this Agreement and the other Loan Documents (or all of its interests, rights and obligations in respect of
the Loans, Commitments or Dollar Working Capital Facility Uncommitted Tranche Portions that are the subject of the related amendment,
waiver or other modification) to an assignee that shall assume such obligations and become a Lender pursuant to the terms of this
Agreement and the other Loan Documents; provided that (i) the transferring Lender shall have received payment of an
amount equal to (A) the outstanding principal of its Loans, accrued interest thereon, and accrued fees payable to it hereunder,
from the Assignee and (B) any additional amounts (including indemnity payments) payable to it hereunder from the Borrowers
and (ii) in the case of a transferring Lender that is also an Issuing Lender, the Letters of Credit issued by such transferring
Lender shall have been cash collateralized or backed by a letter of credit or other credit support from a Non-Defaulting Lender
or other bank reasonably acceptable to the transferring Lender, in each case, on terms and conditions reasonably satisfactory to
such transferring Lender; provided, further, that, if, upon such demand by the Borrowers, such Lender elects to waive
its request for additional compensation pursuant to Sections 4.10 or 4.11, or consents to the proposed amendment,
waiver or other modification, or in the case of a Declining Lender, revokes its Declining Lender Notice, the demand by the Borrowers
for such Lender to so assign all of its rights and obligations under this Agreement shall thereupon be deemed withdrawn. Nothing
in this Section 4.17 shall affect or postpone any of the rights of any Lender or any of the Obligations of the Borrowers
under any of the foregoing provisions of Sections 4.10, 4.11 or 4.16 in any manner. Each Lender hereby
grants to the Administrative Agent an irrevocable power of attorney (which power is coupled with an interest) to execute and deliver,
on behalf of such Lender as assignor, any Assignment and Acceptance necessary to effectuate any assignment of such Lender’s
interest hereunder in the circumstances contemplated by this Section 4.17.

 

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Notwithstanding the forgoing,
in the case of a Declining Lender, (i) the Borrowers may require such Declining Lender to, without recourse (in accordance
with and subject to the restrictions and obligations contained in Section 11.7), (A) assign and delegate its rights
(other than its existing rights to payments pursuant to Sections 4.10 and 4.11) and obligations under the Dollar
Working Capital Facility Uncommitted Tranche (including its Dollar Working Capital Facility Uncommitted Tranche Portion) to such
an assignee or (B) assign and delegate its rights (other than its existing rights to payments pursuant to Sections 4.10
and 4.11) and obligations under each Facility (including its Commitment and/or its Dollar Working Capital Facility Uncommitted
Tranche Portion) to such an assignee, (ii) in any such case, the Borrowers shall first seek a replacement for such Declining
Lender from the existing Lenders under each applicable Facility (other than any Declining Lenders or Defaulting Lenders) pro rata
in accordance with such Lender’s applicable Commitment Percentage or Dollar Working Capital Facility Uncommitted Tranche
Percentage, as applicable, (without giving effect to the applicable Commitment Percentage or Dollar Working Capital Facility Uncommitted
Tranche Percentage of any Declining Lender or Defaulting Lender) and such existing Lenders shall be entitled to accept or decline
such requested assignment in their respective sole discretion, (iii) if the request for assignment of such Declining Lender’s
Commitments and/or Dollar Working Capital Facility Uncommitted Tranche Portion is not accepted by the existing Lenders on a pro
rata basis, such assignment in the applicable Facility shall be offered to the existing Lenders on a non pro rata basis and (iv)
if the request for assignment of such Declining Lender’s Commitments and/or Dollar Working Capital Facility Uncommitted Tranche
Portion is not accepted by the existing Lenders on a pro rata basis or a non pro rata basis in amounts equal to such Declining
Lender’s Commitments and/or Dollar Working Capital Facility Uncommitted Tranche Portion, as applicable, then the Borrowers
shall be permitted to arrange an assignment of such excess Commitments and/or Dollar Working Capital Facility Uncommitted Tranche
Portion, as applicable, of such Declining Lender to another Person as permitted pursuant to the first paragraph of this Section
4.17. If a Declining Lender revokes its Declining Lender Notice or an assignment by such Declining Lender of its rights and
obligations under the Dollar Working Capital Facility Uncommitted Tranche (including its Dollar Working Capital Facility Uncommitted
Tranche Portion) is effectuated pursuant to this Section 4.17, then (x) the Dollar Working Capital Facility Uncommitted
Tranche L/C Obligations and the Dollar Uncommitted Tranche Swing Line Participation Amounts of the Dollar Working Capital
Facility Uncommitted Tranche Lenders in the Dollar Working Capital Facility Uncommitted Tranche shall be readjusted to reflect
the re-inclusion of such Declining Lender’s Dollar Working Capital Facility Uncommitted Tranche Portion or the inclusion
of such assignee’s Dollar Working Capital Facility Uncommitted Tranche Portion, and (y) such Declining Lender or such assignee
(as applicable) shall purchase at par such of the Dollar Working Capital Facility Uncommitted Tranche Loans as the Administrative
Agent shall determine may be necessary in order for such Declining Lender or assignee to hold such Dollar Working Capital Facility
Uncommitted Tranche Loans, Dollar Working Capital Facility Uncommitted Tranche Portions and/or Obligations in the Dollar Working
Capital Facility Uncommitted Tranche in accordance with its Dollar Working Capital Facility Uncommitted Tranche Percentage.

 

4.18        
Defaulting Lender. Notwithstanding any other provision in this Agreement to the contrary, if at any time a Lender
becomes a Defaulting Lender, the following provisions shall apply so long as any Lender is a Defaulting Lender:

 

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(a)           
If any Defaulting Lender (or a Lender who would be a Defaulting Lender but for the expiration of the relevant grace period)
as a result of the exercise of a set-off shall have received a payment in respect of its Loans or its participation interests in
Swing Line Loans or Letters of Credit which results in its Extensions of Credit under any Facility being less than its Commitment
Percentage or Adjusted Dollar Working Capital Facility Uncommitted Tranche Percentage, as applicable, of the Total Extensions of
Credit under such Facility, then payments (including principal, interest and fees) to such Defaulting Lender will be suspended
until such time as all amounts due and owing to the Lenders under such Facility have been equalized in accordance with such Lenders’
Commitment Percentages or Adjusted Dollar Working Capital Facility Uncommitted Tranche Percentages, as applicable, of the Total
Extensions of Credit under such Facility. Further, if at any time prior to the acceleration or maturity of the Obligations under
any Facility with respect to which a Defaulting Lender is a Lender at such time, the Administrative Agent shall receive any payment
in respect of principal of a Loan or a reimbursement of a Letter of Credit under such Facility, the Administrative Agent shall
apply such payment first to the Loans and participations in Letters of Credit and, if applicable, Swing Line Loans, under such
Facility and for which such Defaulting Lender shall have failed to fund its pro rata share to non-Defaulting Lenders under
such Facility until such time as such Defaulting Lender’s obligation to fund such Loans and/or participations is satisfied
in full or each Lender under such Facility is paid its Commitment Percentage or Adjusted Dollar Working Capital Facility Uncommitted
Tranche Percentage, as applicable, of the Total Extensions of Credit under such Facility. After acceleration or maturity of the
Obligations under any Facility to which a Defaulting Lender is a Lender, subject to the first sentence of this Section 4.18(a),
all principal will be paid ratably as provided in Section 4.9(a).

 

(b)           
Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a Defaulting Lender, then the following
provisions shall apply for so long as such Lender is a Defaulting Lender:

 

(i)            
fees shall cease to accrue on the Available Commitments of such Defaulting Lender pursuant to Section 2.8; and

 

(ii)          
with respect to any L/C Participation Obligation, Refunded Swing Line Loan, Dollar Swing Line Participation Amount,
or Multicurrency Swing Line Participation Amount (collectively, “Participation Obligations”) of such Defaulting
Lender that exists at the time a Lender becomes a Defaulting Lender or thereafter:

 

(A)           
all or any part of such Defaulting Lender’s pro rata portion of all Participation Obligations under each Facility
to which such Defaulting Lender is a Lender shall be reallocated among the Non-Defaulting Lenders under such Facility in accordance
with their respective Commitment Percentages or Dollar Working Capital Facility Uncommitted Tranche Percentages, as applicable,
(calculated without regard to such Defaulting Lender’s Commitment or Dollar Working Capital Facility Uncommitted Tranche
Percentage, as applicable, under such Facility) but only to the extent that (x) the sum of all Non-Defaulting Lenders’
Available Commitments or Available Dollar Working Capital Facility Uncommitted Tranche Portions, as applicable,  under such
Facility is greater than zero and (y) each such Non-Defaulting Lender’s Available Commitment or Available Dollar
Working Capital Facility Uncommitted Tranche Portion, as applicable, under such Facility is greater than zero;

 

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(B)            
if the reallocation described in clause (ii)(A) above cannot, or can only partially, be effected, then the Borrowers
shall within three (3) Business Days following notice by the Administrative Agent to the U.S. Borrower (1) Cash (100%)
Collateralize such Defaulting Lender’s portion of the Letters of Credit under the applicable Facility (after giving effect
to any partial reallocation pursuant to clause (ii)(A) above) for so long as such Letters of Credit are outstanding and (2) after
giving effect to any partial reallocation pursuant to clause (ii)(A) above, if such Defaulting Lender is (x) a Dollar
Working Capital Facility Committed Tranche Lender, repay the non-reallocated amount of each Dollar Committed Tranche Swing Line
Loan for so long as such Refunded Swing Line Loan and Dollar Committed Tranche Swing Line Participation Amount are outstanding,
(y) a Dollar Working Capital Facility Uncommitted Tranche Lender, repay the non-reallocated amount of each Dollar Uncommitted
Tranche Swing Line Loan for so long as such Refunded Swing Line Loan and Dollar Uncommitted Tranche Swing Line Participation Amount
are outstanding and (z) a Multicurrency Working Capital Facility Lender, repay the non-reallocated amount of each Multicurrency
Swing Line Loan for so long as such Refunded Swing Line Loan and Multicurrency Swing Line Participation Amount are outstanding;

 

(C)            
if the Participation Obligations of the Non-Defaulting Lenders under the relevant Facility are reallocated pursuant to clause (ii)(A)
above or Cash (100%) Collateralized or repaid pursuant to clause (ii)(B), then the fees payable to the Lenders under such
Facility pursuant to Section 2.8 shall be adjusted or reduced, as applicable, in accordance with such Non-Defaulting
Lenders’ Commitment Percentages (calculated without regard to such Defaulting Lender’s Commitment under such Facility);
and

 

(D)            
if any Defaulting Lender’s portion of the Participation Obligations under any Facility is neither Cash (100%) Collateralized
nor reallocated pursuant to this Section 4.18(b)(ii), then, without prejudice to any rights or remedies hereunder of
the Lenders and Issuing Lenders under such Facility and, in the case of any Working Capital Facility, the Swing Line Lenders under
such Facility, all commitment and commission fees that otherwise would have been payable to such Defaulting Lender (solely with
respect to the portion of such Defaulting Lender’s Commitment or Dollar Working Capital Facility Uncommitted Tranche Portion,
as applicable, under such Facility that was utilized by the Participation Obligations under such Facility) and letter of credit
fees payable under Section 3.5(a) with respect to such Defaulting Lender’s portion of the Letters of Credit under
such Facility shall be payable to the Issuing Lenders under such Facility and, in the case of any Working Capital Facility, the
Swing Line Lenders under such Facility, until such Participation Obligations are Cash (100%) Collateralized, reallocated and/or
repaid in full.

 

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(c)           
So long as any Lender under any Facility is a Defaulting Lender (i) no Issuing Lender under such Facility shall be
required to issue, amend or increase, or consider issuing, amending or increasing, as applicable, any Letter of Credit under such
Facility, unless it is satisfied that the exposure of the L/C Participants in respect of such Letter of Credit will be 100%
covered by the Commitments or Dollar Working Capital Facility Uncommitted Tranche Portions, as applicable, of the Non-Defaulting
Lenders under such Facility and/or cash collateral will be provided by the Borrowers in accordance with Section 4.18(b),
and participating interests in any such newly issued or increased Letter of Credit shall be allocated among Non-Defaulting Lenders
under such Facility in a manner consistent with Section 3.6 (and Defaulting Lenders shall not participate therein),
and (ii) if the Defaulting Lender is a Working Capital Facility Lender, no Swing Line Lender under such Facility shall be
required to advance or consider advancing, as applicable, any Swing Line Loan under such Facility, unless it is satisfied that
the exposure of the remaining Lenders under such Facility in respect of such Swing Line Loan will be 100% covered by the Commitments
or Dollar Working Capital Facility Uncommitted Tranche Portions, as applicable, of the Non-Defaulting Lenders under such Facility.

 

(d)           
So long as any Lender is a Defaulting Lender, such Defaulting Lender shall not be a Qualified Counterparty with respect
to any Commodity OTC Agreements or Financial Hedging Agreements, or a Qualified Cash Management Bank with respect to a Cash Management
Bank Agreement, entered into while such Lender is a Defaulting Lender.

 

(e)           
In the event that the Administrative Agent, the U.S. Borrower and each Issuing Lender under a Facility in which a Defaulting
Lender is a Lender, and, in the case of any Working Capital Facility, each Swing Line Lender under such Facility, each agrees that
a Defaulting Lender has adequately remedied all matters that caused such Lender to be a Defaulting Lender, then the Participation
Obligations under such Facility shall be readjusted to reflect the inclusion of such Defaulting Lender’s Commitment or Dollar
Working Capital Facility Uncommitted Tranche Percentage, as applicable, under such Facility, and on such date each Lender under
such Facility shall purchase at par such of the Loans, funded Participation Obligations and Commitments or Dollar Working Capital
Facility Uncommitted Tranche Portions, as applicable, under such Facility as the Administrative Agent shall determine may be necessary
in order for such Lender to hold such Loans, funded Participation Obligations and Commitments or Dollar Working Capital Facility
Uncommitted Tranche Portions, as applicable, in accordance with its Commitment Percentage or Dollar Working Capital Facility Uncommitted
Tranche Percentage, as applicable, with respect to such Facility.

 

(f)           
If any portion of a Defaulting Lender’s Participation Obligations are reallocated to Non-Defaulting Lenders, then
defined terms (including Acquisition Facility Commitment Percentage, Dollar Working Capital Facility Commitment Percentage, Dollar
Working Capital Facility Uncommitted Tranche Percentage, Multicurrency Working Capital Facility Commitment Percentage, Acquisition
Facility Extensions of Credit, Dollar Working Capital Facility Committed Tranche Extensions of Credit, Dollar Working Capital Facility
Uncommitted Tranche Extensions of Credit and Multicurrency Working Capital Facility Extensions of Credit), shall, as necessary
or advisable (in the reasonable determination of the Administrative Agent) be read as used in this Agreement (other than Section 10.7)
to give effect to such reallocation.

 

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4.19         
Interest Act (Canada). For purposes of disclosure
pursuant to the Interest Act (Canada), the annual rates of interest or fees to which the rates of interest or fees provided in
this Agreement and the other Loan Documents (and stated herein or therein, as applicable, to be computed on the basis of 360 days
or any other period of time less than a calendar year) are equivalent are the rates so determined multiplied by the actual
number of days in the applicable calendar year and divided by 360 or such other period of time, respectively. Each Borrower
confirms that it fully understands and is able to calculate the rates of interest and fees applicable to amounts payable hereunder
based on the methodology for calculating per annum rates provided for in this Agreement. Subject to Section 1.6, the Administrative
Agent agrees that if requested in writing by a Borrower not more frequently than quarterly it will calculate the nominal and effective
per annum rate of interest or fees on any amount payable hereunder during the preceding quarter or at the time of such request
(to the extent determinable at that time) and provide such information to such Borrower as soon as reasonably practicable; provided
that any error in any such calculation, or any failure to provide such information on request, shall not relieve the Borrowers
of any of their respective obligations under this Agreement or any other Loan Document, nor result in any liability to the Administrative
Agent or any Lender. To the extent permitted by law, each Borrower hereby irrevocably agrees not to plead or assert, whether by
way of defense or otherwise, in any proceeding relating to any Loan Document, that the interest or fees payable under any Loan
Document and the calculation thereof has not been adequately disclosed to the Borrowers, whether pursuant to section 4 of the Interest
Act (Canada) or any other applicable law or legal principle.

 

4.20         
Limitations on Interest. If any provision of this Agreement or of any of the other Loan Documents would obligate
any Loan Party to make any payment of interest or other amount payable to the Lenders in an amount or calculated at a rate which
would be prohibited by law or would result in a receipt by any Lender of interest at a criminal rate (as such terms are construed
under the Criminal Code (Canada)) then, notwithstanding such provisions, such amount or rate shall be deemed to have been adjusted
with retroactive effect to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by law or
so result in a receipt by such Lender of interest at a criminal rate, such adjustment to be effected, to the extent necessary,
as follows: (1) firstly, by reducing the amount or rate of interest required to be paid to such Lender under Section 4.2,
and (2) thereafter, by reducing any fees, commissions, premiums and other amounts required to be paid to such Lender
which would constitute “interest” for purposes of Section 347 of the Criminal Code (Canada). Notwithstanding the
foregoing, and after giving effect to all adjustments contemplated thereby, if any Lender shall have received an amount in excess
of the maximum permitted by that section of the Criminal Code (Canada), the Loan Parties shall be entitled, by notice in writing
to the Administrative Agent, to obtain reimbursement from such Lender in an amount equal to such excess and, pending such reimbursement,
such amount shall be deemed to be an amount payable by such Lender to the Borrowers. Any amount or rate of interest referred to
in this Section 4.20 shall be determined in accordance with generally accepted actuarial practices and principles as
an effective annual rate of interest over the term that the applicable Loan remains outstanding on the assumption that any charges,
fees or expenses that fall within the meaning of “interest” (as defined in the Criminal Code (Canada)) shall, if they
relate to a specific period of time, be pro-rated over that period of time and otherwise be pro-rated over the period from the
Restatement Effective Date to the Maturity Date and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute
of Actuaries appointed by the Administrative Agent shall be conclusive for the purposes of such determination.

 

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4.21         
Replacement Facility.

 

(a)          
At any time and from time to time, subject to the terms and conditions set forth herein, the Borrowers may, by notice to
the Administrative Agent (whereupon the Administrative Agent shall promptly deliver a copy to each of the Relevant Facility Lenders),
request to replace a Facility with a new revolving credit facility under this Agreement (a “Replacement Facility”);
provided that (i) at the time of each such request and upon the effectiveness of each Replacement Facility Amendment,
no Default or Event of Default has occurred and is continuing or shall result therefrom and (ii) the Administrative Agent
has consented (such consent not to be unreasonably withheld, delayed or conditioned) in writing to the incurrence of such Replacement
Facility. The amount of each Replacement Facility shall not exceed the amount of the Facility being replaced.

 

(b)          
Any Replacement Facility shall rank pari passu in right of payment and security with the Obligations in respect of
the other Facilities and the obligors in respect thereof shall be Loan Parties. The interest on any outstanding Loans and Swing
Line Loans under any replaced Facility, together with all fees owed by the Borrowers under such Facility, shall be paid in full,
the principal of any outstanding Loans and Swing Line Loans under any replaced Facility shall be paid in full, replaced, converted
or continued on terms satisfactory to the Lenders under such Facility and all outstanding Letters of Credit under such Facility
will be replaced or continued on terms satisfactory to the Lenders under such Facility, in each case on the Replacement Facility
Closing Date for such Facility. Any Replacement Facility shall be on the terms and pursuant to the documentation applicable to
the Commitments or Dollar Working Capital Facility Uncommitted Tranche Portions in respect of the Facility being replaced (other
than maturity date and pricing (interest rate and fees)) or on such other terms reasonably acceptable to the Administrative Agent
and the Borrowers, as set forth in the relevant Replacement Facility Amendment; provided that any Replacement Facility shall
not have a termination date that is earlier than the termination date of the Facility being replaced. In addition, the terms and
conditions applicable to any Replacement Facility may provide for additional or different covenants or other provisions that are
agreed between the Borrowers and the Lenders under such Replacement Facility and applicable only during periods after the latest
final maturity date for all Loans and Commitments or Dollar Working Capital Facility Uncommitted Tranche Portions, as applicable,
(other than those under the Facility being replaced) in effect immediately prior to the date such Replacement Facility is incurred
or obtained or the date on which all non-replaced Obligations (except indemnification obligations for which no claim has been made
and of which no Responsible Person of any Loan Party has knowledge and Hedging and Bank Product Obligations) are paid in full.

 

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(c)           
Each notice from the Borrowers pursuant to this Section shall set forth the requested amount and proposed terms of the relevant
Replacement Facility. Any financial institution that elects to extend commitments or uncommitted tranche portions under a Replacement
Facility (a “Replacement Facility Lender”) shall be reasonably satisfactory to the U.S. Borrower and (unless
such Replacement Facility Lender is already a Lender or a Subsidiary, Affiliate or Approved Fund thereof) the Administrative Agent,
and (i) if the Replacement Facility is a replacement of the Acquisition Facility, the Acquisition Facility Issuing Lenders,
and (ii) if the Replacement Facility is a replacement of the Dollar Working Capital Facility Committed Tranche, the Dollar
Working Capital Facility Uncommitted Tranche or the Multicurrency Working Capital Facility, the Relevant Working Capital Facility
Issuing Lenders and the Relevant Swing Line Lenders. Each Replacement Facility Lender that is not already a Lender shall become
a Lender under this Agreement pursuant to a Replacement Facility Amendment. Each Replacement Facility shall become effective pursuant
to an amendment (each, a “Replacement Facility Amendment”) to this Agreement and, as appropriate, the other
Loan Documents, executed by the Borrowers, such Replacement Facility Lender(s) and the Administrative Agent. No Replacement Facility
Amendment shall require the consent of any Lenders or any other Person other than the Borrowers, the Administrative Agent and the
Replacement Facility Lenders with respect to such Replacement Facility Amendment. No Lender shall be obligated to provide any commitment
or uncommitted tranche portion for any Replacement Facility, unless it so agrees in its sole discretion. Commitments in respect
of any Replacement Facility shall become Commitments under this Agreement and Dollar Working Capital Facility Uncommitted Tranche
Portions in respect of any Replacement Facility shall become Dollar Working Capital Facility Uncommitted Tranche Portions under
this Agreement. Notwithstanding anything to the contrary in this Agreement (including Section 11.1), a Replacement
Facility Amendment may, without the consent of any other Lenders or any other Person, effect such amendments to any Loan Documents
as may be necessary or appropriate, in the opinion of the Administrative Agent and the Borrowers, to effect the provisions of this
Section. The effectiveness of any Replacement Facility Amendment shall, unless otherwise agreed to by the Administrative Agent
and the Replacement Facility Lenders party thereto, be subject to the satisfaction or waiver on the date thereof (each, a “Replacement
Facility Closing Date”) of each of the conditions set forth in Section 6.2 (it being understood that all
references to the date of making any extension of credit in Section 6.2 shall be deemed to refer to the Replacement
Facility Closing Date). To the extent reasonably requested by the Administrative Agent, the effectiveness of a Replacement Facility
Amendment may be conditioned on the Administrative Agent’s receipt of customary legal opinions with respect thereto, board
resolutions and officers’ certificates, additional filings or registrations, mortgage amendments, filing amendments and/or
reaffirmation agreements. No Replacement Facility may be implemented unless such Replacement Facility has provisions reasonably
satisfactory to the Administrative Agent with respect to Letters of Credit and Swing Line Loans then outstanding under the Facility
being replaced.

 

4.22         
Election of Approving Lenders to Continue Funding.

 

(a)            
If the Administrative Agent receives a Declining Lender Notice from a Dollar Working Capital Facility Uncommitted Tranche
Lender on any Business Day, it will promptly forward notice of the same to all other Dollar Working Capital Facility Uncommitted
Tranche Lenders that are not then Declining Lenders. If as of 10:00 a.m. (New York City time) on any Business Day, (i) the
Administrative Agent receives a Declining Lender Notice for reasons other than an Event of Default from one or more Dollar Working
Capital Facility Uncommitted Tranche Lenders (the “Declining Lender” or “Declining Lenders”
in respect of such Conversion to Approving Lenders Date) and (ii) the other Dollar Working Capital Facility Uncommitted Tranche
Lender or Dollar Working Capital Facility Uncommitted Tranche Lenders approve (or are deemed to approve as provided in this Section 4.22(a))
further Dollar Working Capital Facility Uncommitted Tranche Loans or the further issuances of, extensions of, automatic renewal
of or amendments to Dollar Working Capital Facility Uncommitted Tranche Letters of Credit, the Administrative Agent shall promptly
notify the Dollar Working Capital Facility Uncommitted Tranche Lenders. With respect to any Conversion to Approving Lender Date,
any Dollar Working Capital Facility Uncommitted Tranche Lender that has not provided a Declining Lender Notice to the Administrative
Agent as of 10:00 a.m. on such date shall automatically, without any action on the part of any Person, be deemed an “Approving
Lender” with respect to such Conversion to Approving Lender Date. Each Approving Lender shall (x) with respect to
any Dollar Working Capital Facility Uncommitted Tranche Loan, make available (as provided in Section 2.5(d)) its Dollar
Working Capital Facility Uncommitted Tranche Percentage of such requested Dollar Working Capital Facility Uncommitted Tranche Loan
(in an amount determined pursuant to Section 2.5(d)) and (y) with respect to any Dollar Working Capital Facility Uncommitted
Tranche Letter of Credit for which such Approving Lender is the Dollar Working Capital Facility Uncommitted Tranche Issuing Lender,
renew or issue such Letter of Credit in an amount consistent with and as provided by Section 3.1(B) (or with respect
to any Approving Lender that is not the applicable Dollar Working Capital Facility Uncommitted Tranche Issuing Lender, assume participations
in such Dollar Working Capital Facility Uncommitted Tranche Letter of Credit as a Dollar Working Capital Facility Uncommitted Tranche
L/C Participant in an amount consistent with and as provided by Section 3.6). From the first date after the Conversion
to Approving Lenders Date and thereafter (or until the next Conversion to Approving Lenders Date, if any, at which time one or
more Dollar Working Capital Facility Uncommitted Tranche Lenders that had been Approving Lenders may become a Declining Lender),
all subsequent Dollar Working Capital Facility Uncommitted Tranche Loans and issuances of Dollar Working Capital Facility Uncommitted
Tranche Letters of Credit (or amendments or extensions of such Letters of Credit) shall be made unilaterally by the Approving Lenders
in respect of such Conversion to Approving Lenders Date, and no Dollar Working Capital Facility Uncommitted Tranche Letter of Credit
thereafter issued (or amended or extended) shall be participated in by the Declining Lenders in respect of such Conversion to Approving
Lenders Date pursuant to Section 3.6.

 

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(b)          
Notwithstanding the foregoing, however, for purposes of allocating repayments prior to the occurrence of an Event of Default
hereunder, the Dollar Working Capital Facility Uncommitted Tranche Percentage of each Dollar Working Capital Facility Uncommitted
Tranche Lender, with respect to Dollar Working Capital Facility Uncommitted Tranche Loans and Dollar Working Capital Facility Uncommitted
Tranche Letters of Credit outstanding on any specified Conversion to Approving Lenders Date or Increase Effective Date in respect
of the Dollar Working Capital Facility Uncommitted Tranche, shall remain fixed at the percentage held by such Dollar Working Capital
Facility Uncommitted Tranche Lender the day before such specified Conversion to Approving Lenders Date or Increase Effective Date
in respect of the Dollar Working Capital Facility Uncommitted Tranche, as applicable, without respect to any changes which may
subsequently occur in such Dollar Working Capital Facility Uncommitted Tranche Lender’s Adjusted Dollar Working Capital Facility
Uncommitted Tranche Percentage (prior to the earlier to occur of the next Conversion to Approving Lenders Date or the Increase
Effective Date in respect of the Dollar Working Capital Facility Uncommitted Tranche). Upon the occurrence of an Event of Default
and thereafter, the allocation of all repayments and proceeds from the exercise of remedies hereunder shall be allocated as provided
in Section 8(b) of the U.S. Security Agreement and Section 8(b) of the Canadian Security Agreement.

 

4.23         
Effect of Benchmark Transition Event.

 

(a)           
Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other Loan Document, upon the occurrence
of a Benchmark Transition Event or an Early Opt-in Election, as applicable, the Administrative Agent and the Borrowers may amend
this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark
Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such
proposed amendment to all Lenders and the Borrowers so long as the Administrative Agent has not received, by such time, written
notice of objection to such amendment from Lenders comprising the Required Lenders. Any such amendment with respect to an Early
Opt-in Election will become effective on the date that Lenders comprising the Required Lenders have delivered to the Administrative
Agent written notice that such Required Lenders accept such amendment. No replacement of a Benchmark with a Benchmark Replacement
pursuant to this Section 4.23 will occur prior to the applicable Benchmark Transition Start Date.

 

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(b)         
Benchmark Replacement Conforming Changes. In connection with the implementation of a Benchmark Replacement, the Administrative
Agent (in consultation with the Borrowers) will have the right to make Benchmark Replacement Conforming Changes from time to time
and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Benchmark
Replacement Conforming Changes will become effective without any further action or consent of any other party to this Agreement.

 

(c)           
Notices; Standards for Decisions and Determinations. The Administrative Agent will promptly notify the Borrowers
and the Lenders of (i) any occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its
related Benchmark Replacement Date and Benchmark Transition Start Date, (ii) the implementation of any Benchmark Replacement,
(iii) the effectiveness of any Benchmark Replacement Conforming Changes and (iv) the commencement or conclusion of any
Benchmark Unavailability Period. Any determination, decision or election that may be made by the Administrative Agent or Lenders
pursuant to this Section 4.23, including any determination with respect to a tenor, rate or adjustment or of the occurrence
or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action, will be conclusive
and binding absent manifest error and may be made in its or their sole discretion and without consent from any other party hereto,
except, in each case, as expressly required pursuant to this Section 4.23.

 

(d)           
Benchmark Unavailability Period. Upon the Borrowers’ receipt of notice of the commencement of a Benchmark Unavailability
Period, the Borrowers may revoke any request for a borrowing of, Conversion to or Continuation of Eurocurrency Loans to be made,
Converted or Continued during any Benchmark Unavailability Period and, failing that, the Borrowers will be deemed to have converted
any such request into a request for a borrowing of or Conversion to Base Rate Loans. During any Benchmark Unavailability Period,
the component of Base Rate based upon the Benchmark (or a component thereof) will not be used in any determination of Base Rate.

 

SECTION
5        REPRESENTATIONS
AND WARRANTIES

 

To induce the Administrative
Agent and the Lenders to enter into this Agreement and to make the Loans and provide other extensions of credit hereunder and,
with respect to the Issuing Lenders, to issue the Letters of Credit, the Loan Parties hereby jointly and severally represent and
warrant to the Administrative Agent and each Lender as of the Restatement Effective Date and each Borrowing Date that:

 

    	-159-	 

     

    

 

5.1           
Financial Condition. (a)  Each of the financial statements delivered pursuant to Section 6.1(r)
and Section 7.1 (other than the Annual Budgets, the Operating Forecasts and the financial statements delivered pursuant
to Section 6.1(r)(ii)) present fairly in all material respects the financial condition of the Persons covered by such
financial statements as at such date, and have been prepared in accordance with GAAP or GAAP adjusted on an Economic Basis plus
or minus any Allowed Reserve, as applicable, in each case applied consistently throughout the periods involved (except as
approved by such accountants and as disclosed therein and, with regard to the non-annual financial statements, subject to normal
year-end adjustments and the absence of footnotes).

(b)           
The Annual Budgets and the Operating Forecasts have been prepared in good faith under the direction of a Responsible Person
of the General Partner (or, after the effectiveness of the Approved Organizational Changes, the MLP). The Annual Budgets and the
Operating Forecasts were based upon good faith estimates and assumptions believed by the Loan Parties 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.

 

(c)           
Except as set forth on Schedule 5.1(c) hereto, neither the MLP nor any of its consolidated Subsidiaries has,
at the date of the most recent balance sheet referred to in Section 5.1(a), any material Guarantee Obligation, contingent
liability or liability for taxes, or any material long-term lease or unusual forward or long-term commitment, including any material
interest rate or foreign currency swap or exchange transaction or other financial derivative which is not reflected in the foregoing
statements or in the notes thereto.

 

(d)           
[Reserved].

 

(e)          
The Projections have been prepared based upon good faith estimates and assumptions believed by management of the U.S. 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.

 

(f)            
During the period from December 31, 2019 to and including the Restatement Effective Date, there has been no sale, transfer
or other disposition by any Loan Party or any of their respective consolidated Subsidiaries of any material part of their respective
business or property and no purchase or other acquisition of any business or property (including any Capital Stock of any other
Person) material in relation to the consolidated financial condition of such Loan Party and its consolidated Subsidiaries at December 31,
2019, other than those sales, transfers, dispositions and acquisitions listed on Schedule 5.1(f).

 

5.2           
No Change. Since December 31, 2019, there has been no Material Adverse Effect.

 

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5.3           
Existence; Compliance with Law. Each of the Loan Parties (a) is duly formed or organized, validly existing and
in good standing under the Laws of the jurisdiction of its organization, (b) has the corporate (or analogous) 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
which it is currently engaged, (c) is duly qualified as a foreign entity and in good standing under the Laws of each jurisdiction
where such qualification is required, except where the failure to be so qualified or in good standing could not reasonably be expected
to have a Material Adverse Effect and (d) is in compliance with all Requirements of Law except to the extent that the failure
to comply therewith could not, in the aggregate, reasonably be expected to have a Material Adverse Effect.

 

5.4           
Power; Authorization; Enforceable Obligations.
Each of the Loan Parties has the corporate (or analogous) power and authority, and the legal right, to execute, deliver and perform
the Loan Documents to which it is a party and, if applicable, to borrow hereunder, and, if applicable, has taken all necessary
corporate (or analogous) action to authorize the borrowings on the terms and conditions of this Agreement and any Notes and to
authorize the execution, delivery and performance of the Loan Documents to which it is a party. Except for (a) the filing
of UCC and PPSA financing statements, financing change statements, applications for registration under the Quebec Civil Code and
equivalent filings for foreign jurisdictions and the taking of applicable actions referred to in Section 5.16 and (b) the
filings or other actions listed on Schedule 5.4 (and including such other authorizations, approvals, registrations,
actions, notices or filings as have already been obtained, made or taken and are in full force and effect), no consent or authorization
of, filing with, notice to or other act by or in respect of, any Governmental Authority or any other Person, including the FERC,
to which any Borrower or other Loan Party is subject, is required in connection with the borrowings hereunder or with the execution,
delivery, validity or enforceability of the Loan Documents to which the Loan Parties are a party; provided that approval
by the FERC may be required for the transfer of direct or indirect ownership or control of FERC Contract Collateral; provided,
further, that no approval of the FERC is required for the granting of the security interest in the FERC Contract Collateral
to the Administrative Agent pursuant to the Security Documents. As of the Restatement Effective Date, the only contracts comprising
FERC Contract Collateral of the Loan Parties and their respective Subsidiaries as to which further consent of the FERC may be required
in connection with the exercise of remedies by the Administrative Agent under the Loan Documents are contracts for the transportation
and storage of certain Eligible Commodities. This Agreement has been, and each other Loan Document to which any Loan Party is a
party will be, duly executed and delivered on behalf of such Loan Party. This Agreement constitutes, and each other Loan Document
to which it is a party when executed and delivered will constitute, a legal, valid and binding obligation of each Loan Party thereto
enforceable against such Loan Party in accordance with its terms, subject to the effects of bankruptcy, insolvency, fraudulent
conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally, general
equitable principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing.

 

5.5           
No Legal Bar. The execution, delivery and performance of the Loan Documents to which any of the Loan Parties is a
party, the borrowings hereunder and the use of the proceeds thereof (i) will not violate any Requirement of Law, including
any rules or regulations promulgated by the FERC, in any material respect or where a waiver has not been obtained, in each case
to the extent applicable to or binding upon such Loan Party or its Properties, (ii) will not violate a material Contractual
Obligation (including, for the avoidance of doubt, Governing Documents) of any of the Loan Parties, except where such violation
could not reasonably be expected to have a Material Adverse Effect and (iii) will not result in, or require, the creation
or imposition of any Lien on any of their respective properties or revenues pursuant to any such Requirement of Law or Contractual
Obligation (other than Liens created by the Security Documents in favor of the Administrative Agent and Liens permitted by Section 8.3).

 

    	-161-	 

     

    

 

5.6           
No Material Litigation. No litigation or proceeding to which a Loan Party is party before any arbitrator or Governmental
Authority is pending or, to the knowledge of any Loan Party, threatened by or against any Loan Party or against any of their respective
properties or revenues (a) with respect to any of the Loan Documents, (b) with respect to any of the transactions contemplated
by or occurring simultaneously with the entering into of any of the Loan Documents in which such litigation or proceeding is material
and has a reasonable basis in fact, or (c) which could, after giving effect to any insurance, bond or reserve, reasonably
be expected to have a Material Adverse Effect.

 

5.7           
No Default. No Loan Party is in default under or with respect to any Contractual Obligation in any respect which
could reasonably be expected to have a Material Adverse Effect. No Default or Event of Default has occurred and is continuing.

 

5.8           
Ownership of Property; Liens. Except for matters disclosed on the title reports and surveys, including minor defects
or irregularities in title that do not interfere with its ability to conduct its business as currently conducted or to utilize
such properties and assets for their intended purposes and except where the failure to have such title could not reasonably be
expected to have a Material Adverse Effect, each Loan Party has defensible title in fee simple to, or a valid leasehold interest
in, all its real property, and good title to, or a valid leasehold interest in, all its tangible personal property, and none of
such property is subject to any Lien except as permitted by Section 8.3.

 

5.9          
Intellectual Property. Each Loan Party owns, is licensed to use or has a common law or contractual right to access
and use, all material trademarks, tradenames, copyrights, patents, industrial designs, technology, know-how and processes necessary
for the conduct of its business as currently conducted (the “Intellectual Property”) except for those the failure
to own or license which could not reasonably be expected to have a Material Adverse Effect. Except as set forth on Schedule 5.9,
no claim has been asserted nor is pending by any Person challenging or questioning the use by any such Loan Party of any such Intellectual
Property or the validity or effectiveness of any such Intellectual Property, nor does any Loan Party know of any valid basis for
any such claim, except any claim that could not reasonably be expected to have a Material Adverse Effect. The use of such Intellectual
Property by the Loan Parties does not infringe on the rights of any Person, except for such claims and infringements that, in the
aggregate, could not reasonably be expected to have a Material Adverse Effect.

 

5.10        
No Burdensome Restrictions. No Requirement of Law or Contractual Obligation of any Loan Party has or could reasonably
be expected to have a Material Adverse Effect.

 

    	-162-	 

     

    

 

5.11         
Taxes. (a)  Each Loan Party and each of its Subsidiaries has timely filed or caused to be filed all material
Tax returns required to be filed and has timely paid all material Taxes due and payable by it or imposed with respect to any of
its property and all other material fees or other charges imposed on it or any of its property by any Governmental Authority (other
than any Taxes the amount or validity of which 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 the Loan Parties). Each Loan Party and each
of its Subsidiaries has withheld all employee withholdings and has made all employer contributions required to be withheld and
made by it pursuant to applicable law on account of the Canada and Quebec pension plans, employment insurance and employee income
taxes.

 

(b)           
There are no Liens for Taxes and no claim is being asserted with respect to Taxes, except for statutory liens for Taxes
not yet due and payable or for Taxes the amount or validity of which are currently being contested in good faith by appropriate
proceedings and, in each case, with respect to which reserves in conformity with GAAP have been provided on the books of the MLP.

 

5.12         
Federal Regulations. No part of the proceeds of any Loan or Letter of Credit will be used for “purchasing”
or “carrying” any “margin stock” within the respective meanings of each of the quoted terms under Regulation U,
or for any purpose which violates, or which would be inconsistent with, the provisions of the regulations of the Board. If requested
by any Lender or the Administrative Agent, the U.S. 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 referred to in said Regulation U.

 

5.13         
ERISA. Neither a Reportable Event nor a failure
to satisfy the minimum funding requirements of Section 412 or 430 of the Code has occurred during the six-year period prior
to the date on which this representation is made or deemed made or is reasonably expected to occur with respect to any Single Employer
Plan, no Plan is reasonably expected to be in “at risk” status within the meaning of Section 430 of the Code and
each Plan (including, to the knowledge of the Loan Parties, a Multiemployer Plan or a multiemployer welfare plan maintained pursuant
to a collective bargaining agreement) has complied in all respects with the applicable provisions of ERISA, the Code and the constituent
documents of such Plan, except for instances of non-compliance that, in the aggregate, could not reasonably be expected to have
a Material Adverse Effect. No termination of a Single Employer Plan has occurred during such six-year period or is reasonably expected
to occur (other than a termination described in Section 4041(b) of ERISA), and no Lien in favor of the PBGC or a Plan has
arisen during such six-year period or is reasonably expected to arise. Except to the extent that any such excess could not reasonably
be expected to have a Material Adverse Effect, 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. Except to the extent that
such liability could not reasonably be expected to have a Material Adverse Effect, (i) neither the Loan Parties nor any Commonly
Controlled Entity has had a complete or partial withdrawal from any Multiemployer Plan, and (ii) the Loan Parties would not
become subject to any liability under ERISA if a 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. To the knowledge of the Loan Parties, no such Multiemployer Plan is Insolvent or terminating or is reasonably expected to
become Insolvent or be terminated or is, or is reasonably expected to be in endangered, seriously endangered or critical status,
in each case within the meaning of Section 432 of the Code. Except to the extent that any such excess could not reasonably
be expected to have a Material Adverse Effect, the present value (determined using actuarial and other assumptions which are reasonable
in respect of the benefits provided and the employees participating) of the aggregate liabilities of the Loan Parties and each
Commonly Controlled Entity for the provision of post-retirement benefits to their current and former employees under Plans which
are welfare benefit plans (as defined in Section 3(1) of ERISA) do not, in the aggregate, exceed the total assets under all
such Plans allocable to such benefits except as disclosed in the financial statements of the Loan Parties. Neither the Loan Parties
nor any Commonly Controlled Entity has engaged in a prohibited transaction under Section 406 of ERISA and/or Section 4975
of the Code in connection with any Plan that would subject any Loan Party to liability under ERISA and/or Section 4975 of
the Code that could reasonably be expected to have a Material Adverse Effect. Except as could not reasonably be expected, individually
or in the aggregate, to have a Material Adverse Effect: (1) each Plan that is intended to qualify under Section 401(a)
of the Code has received a favorable determination letter from the IRS covering such plan’s most recently completed five-year
remedial amendment cycle in accordance with Revenue Procedure 2007-44, I.R.B. 2007-28, indicating that such Plan is so qualified
and the trust related thereto has been determined by the Internal Revenue Service to be exempt from federal income tax under Section 501(a)
of the Code or an application for such a determination is currently pending before the Internal Revenue Service and, to the knowledge
of the Borrowers, nothing has occurred subsequent to the issuance of the most recent determination letter which would cause such
Plan to lose its qualified status; (2) no liability to the PBGC (other than required premium payments) or the IRS with respect
to any Plan, any Plan or Single Employer Plan or any trust established under Title IV of ERISA has been or is expected to
be incurred by any Loan Party or any Commonly Controlled Entity; (3) no Event of Default under Section 9.1(h)
hereof has occurred and neither the Borrowers nor any Commonly Controlled Entity is aware of any fact, event or circumstance that
could reasonably be expected to constitute or result in an Event of Default; and (4) each of the Loan Parties’ Commonly
Controlled Entities have complied with the requirements of Section 515 of ERISA with respect to each Multiemployer Plan and
are not in “default” (as defined in Section 4219(c)(5) of ERISA) with respect to payments to a Multiemployer Plan.

 

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5.14         
Investment Company Act; Other Regulations.
None of the Loan Parties is required to register as an “investment company”, or a company “controlled”
by an “investment company”, within the meaning of the Investment Company Act of 1940. The Loan Parties are not subject
to regulation under any Federal or State statute or regulation (other than Regulation X of the Board) which limits their
ability to incur Indebtedness.

 

5.15         
Subsidiaries. Schedule 5.15 sets forth as of the Restatement Effective Date the names of all direct or
indirect Subsidiaries of the MLP, their respective forms of organization, their respective jurisdictions of organization, the total
number of issued and outstanding shares or other interests of Capital Stock thereof, the classes and number of issued and outstanding
shares or other interests of Capital Stock of each such class, and with respect to the MLP, the name of each holder of general
partnership interests thereof and the number of general partnership interests held by each such holder.

 

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5.16         
Security Documents. (a)  The provisions of the Security Documents are effective to create in favor of the
Administrative Agent for the ratable benefit of the Secured Parties a legal, valid and enforceable Lien in all right, title and
interest of each Loan Party thereto in the “Collateral” described therein, subject to any Liens permitted by Section 8.3.

 

(b)            When
any stock certificates representing Pledged Collateral are delivered to the Administrative Agent, and proper financing
statements or other applicable filings listed in Schedule 5.16 have been filed in the offices in the
jurisdictions listed in Schedule 5.16, the U.S. Pledge Agreement shall constitute a perfected first Lien on,
and security interest in, all right, title and interest of each Loan Party thereto in the “Pledged Collateral”
described therein, subject to any Liens permitted by Section 8.3.

 

(c)            When
any stock certificates representing Pledged Collateral are delivered to the Administrative Agent, and proper financing statements
or other applicable filings listed in Schedule 5.16 have been filed in the offices in the jurisdictions listed in
Schedule 5.16, the Canadian Pledge Agreement shall constitute a perfected first Lien on, and security interest in,
all right, title and interest of each Person party thereto in the “Pledged Collateral” described therein, subject
to any Liens permitted by Section 8.3.

 

(d)            When
proper financing statements or other applicable filings listed in Schedule 5.16 have been filed in the offices in
the jurisdictions listed in Schedule 5.16, the security interest granted under the U.S. Security Agreement shall constitute
a perfected first Lien on, and security interest in, all right, title and interest of the U.S. Borrower and those Loan Parties
party thereto in the portion of the “Collateral” described therein, which can be perfected by such filing, subject
to any Permitted Borrowing Base Liens.

 

(e)            When an Account Control Agreement has been entered into with respect to each Pledged Account of any Loan Party to the U.S.
Security Agreement, the U.S. Security Agreement shall constitute a perfected first Lien on, and security interest in, all right,
title and interest of the Loan Party thereto in the portion of the “Collateral” described therein that consists of
Pledged Accounts, prior and superior in right to any other Person, subject to any Permitted Cash Management Liens.

 

(f)             When
proper financing statements or other applicable filings listed in Schedule 5.16 have been filed in the offices in
the jurisdictions listed in Schedule 5.16, the security interest granted under the Canadian Security Agreement and
Quebec Security Documents shall constitute a perfected first Lien on, and security interest in, all right, title and interest
of the Canadian Borrower and those Loan Parties party thereto in the portion of the “Collateral” described therein,
which can be perfected by such filing, subject to any Permitted Borrowing Base Liens.

 

(g)            When
an Account Control Agreement has been entered into with respect to each Pledged Account (except for Deposit Accounts maintained
with a financial institution in any province or territory of Canada, other than Quebec) of any Loan Party to the Canadian Security
Documents, the Canadian Security Documents shall constitute a perfected first Lien on, and security interest in, all right, title
and interest of the Loan Party thereto in the portion of the “Collateral” described therein that consists of Pledged
Accounts (except for Deposit Accounts maintained with a financial institution in any province or territory of Canada, other than
Quebec), prior and superior in right to any other Person, subject to any Permitted Cash Management Liens.

 

    	-165-	 

     

    

 

(h)            When
proper financing statements or other applicable filings listed in Schedule 5.16 have been filed in the offices in
the jurisdictions listed in Schedule 5.16, the Canadian Security Documents shall constitute a perfected first Lien
on, and security interest in, all right, title and interest of the Loan Party thereto in the portion of the “Collateral”
described therein that consists of Pledged Accounts consisting of Deposit Accounts maintained with a financial institution in
any province or territory of Canada, other than Quebec, prior and superior in right to any other Person, subject to any Permitted
Cash Management Liens.

 

5.17         
Accuracy and Completeness of Information. All written factual information, reports and other papers and data with
respect to the Loan Parties furnished pursuant to this Agreement and the other Loan Documents, and all factual statements and representations
made in writing, to the Administrative Agent, the Arrangers or the Lenders by any Loan Party or on behalf of any Loan Party at
its direction, were, at the time the same were so furnished or made, when taken together with all such other written factual information,
reports and other papers and data previously so furnished and all such other factual statements and representations previously
so made in writing, complete and correct in all material respects, to the extent necessary to give the Administrative Agent, the
Arrangers and the Lenders true and accurate knowledge of the subject matter thereof in all material respects, and did not, as of
the date so furnished or made, contain any untrue statement of a material fact or omit to state any material fact necessary in
order to make the statements contained therein not materially misleading in light of the circumstances in which the same were made.
The projections and pro forma information contained in the materials referenced above were based upon good faith estimates and
assumptions believed by the Loan Parties to be reasonable at the time made, it being recognized by the Administrative Agent, the
Arrangers and 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; provided, however, that the representation and warranty in this Section 5.17 shall
not cover (x) the financial information addressed in Section 5.1 or Section 7.1 or (y) any reports
that were prepared by the Administrative Agent, any Arranger, any Lender or any advisor thereof (whether or not such advisor’s
fees were paid by any Loan Party), but shall apply to any written information, reports, other papers or data that were approved
by any Loan Party for inclusion in any such report.

 

5.18         
Labor Relations. No Loan Party is engaged in any unfair labor practice which could reasonably be expected to have
a Material Adverse Effect. Except as could not reasonably be expected to have a Material Adverse Effect, there is (a) no unfair
labor practice complaint pending or, to the best knowledge of each Loan Party, threatened against a Loan Party before the National
Labor Relations Board, the Canada Industrial Relations Board or any other labor relations board of any other province or territory
of Canada and no grievance or arbitration proceeding arising out of or under a collective bargaining agreement is so pending or,
to the knowledge of any Loan Party, threatened, (b) no strike, labor dispute, slowdown or stoppage pending or, to the knowledge
of each Loan Party, threatened against a Loan Party, and (c) except as listed on Schedule 5.18, no union representation
question existing with respect to the employees of a Loan Party and, to the knowledge of any Loan Party, no union organizing activities,
certification applications or representative proceedings are taking place or pending with respect to any thereof.

 

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5.19         
Insurance. As of the Restatement Effective Date, each Loan Party has, with respect to its properties and business,
insurance covering the risks, in the amounts, with the deductible or other retention amounts, and with the carriers, listed on
Schedule 5.19, which insurance meets the requirements of Section 7.5 hereof and Section 5(q) of the
U.S. Security Agreement or Section 5(p) of the Canadian Security Agreement, as applicable, in each case as of the Restatement
Effective Date.

 

5.20         
Solvency. (a)  As of the Restatement Effective Date, and each other Borrowing Date, immediately after giving
effect to the Loans and Letters of Credit to be made, issued or provided on such date, (i) the amount of the “present
fair saleable value” of the assets of each of the MLP and its Subsidiaries, taken as a whole, the MLP, the U.S. Borrower
and the Canadian Borrower will, as of such time, exceed the amount of all “liabilities of each of the MLP and its Subsidiaries,
taken as a whole, the MLP, the U.S. Borrower and the Canadian Borrower, contingent or otherwise”, respectively, such quoted
terms are determined in accordance with applicable federal and state Laws governing determinations of the insolvency of debtors,
(ii) the present fair saleable value of the assets of each of the MLP and its Subsidiaries, taken as a whole, the MLP, the
U.S. Borrower and the Canadian Borrower will be greater than the amount that will be required to pay the liabilities of each of
the MLP and its Subsidiaries, taken as a whole, the MLP, the U.S. Borrower and the Canadian Borrower on their respective debts
as such debts become absolute and matured, (iii) none of the MLP and its Subsidiaries, taken as a whole, the MLP, the U.S.
Borrower or the Canadian Borrower will have an unreasonably small amount of capital with which to conduct their respective businesses,
and (iv) each of the MLP and its Subsidiaries, taken as a whole, the MLP, the U.S. Borrower and the Canadian Borrower will
be able to pay their respective debts as they mature. For purposes of this Section 5.20, “debt” means “liability
on a claim”, “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,
and (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, contingent, matured or unmatured, disputed, undisputed, secured
or unsecured.

 

5.21         
Use of Letters of Credit and Proceeds of Loans. (a)  The proceeds of the Loans under the Working Capital
Facility shall be used (1) on the Restatement Effective Date, to refinance outstanding obligations under the Existing Credit
Agreement and (2) thereafter only (i) to finance the Loan Parties’ purchase, storage and sale of Petroleum Products,
Natural Gas Products, Coal Products, carbon credits, RINs, wood pellets, asphalt and such other energy products as the Required
Lenders may approve from time to time (such approval not to be unreasonably withheld) (collectively, “Product”),
(ii) to finance (x) maintenance Capital Expenditures and (y)  non-maintenance Capital Expenditures, (iii) for
hedging related to the purchase, storage and sale of Product, (iv) for the general working capital purposes of the Loan Parties,
(v) to finance the carrying of accounts receivable, (vi) for the payment of contractual margin calls (with respect to
exchange-traded contracts, over-the-counter contracts and otherwise) or establishment of reserves in connection therewith, (vii) for
the making of Restricted Payments to the extent permitted by Section 8.5 below, (viii) to support certain working
capital requirements related to the Loan Parties’ marketing activities and (ix) to pay any fees and expenses payable
to the Lenders, the Administrative Agent and any other Secured Parties, and, in each case, not for any other purpose.

 

    	-167-	 

     

    

 

(b)             Letters of Credit under the Working Capital Facility shall be used only (1) on the Restatement Effective Date, to refinance
any Existing Working Capital Facility Letters of Credit outstanding under the Existing Credit Agreement; provided, that any such
refinancing may be accomplished pursuant to Sections 3.1 or 3.2 hereof and (2) thereafter only (i) for the general
working capital purposes of the Loan Parties, (ii) to facilitate and finance the purchase of Product for resale or storage,
(iii) to secure the obligations of any Loan Party under any contract or agreement or in connection with any legal requirement
or governmental permit, such as transportation obligations, bonding obligations, performance and margin-related obligations related
to hedging of Product and (iv) to support (w) maintenance Capital Expenditures, (y) solely with respect to the Dollar
Working Capital Facility, and in an aggregate amount not to exceed $10,000,000 for such purpose outstanding at any time (with respect
to all Dollar Working Capital Facility Letters of Credit), non-maintenance Capital Expenditures, and (z) solely with respect to
the Multicurrency Working Capital Facility, and in an aggregate amount not to exceed $7,500,000 for such purpose outstanding at
any time (with respect to all Multicurrency Working Capital Facility Letters of Credit), non-maintenance Capital Expenditures,
and, in each case, not for any other purpose.

 

(c)             The
proceeds of the Loans under the Acquisition Facility shall be used (1) on the Restatement Effective Date, to refinance outstanding
obligations under the Existing Credit Agreement and (2) thereafter, (A) with respect to Acquisition Facility Acquisition
Loans, only (i)  to finance the acquisition of Acquisition Assets, the repayment or refinancing of all or any portion of
any outstanding Acquisition Facility Acquisition Extensions of Credit, (ii) for general corporate purposes of the Loan Parties,
distinct and separate from the general working capital purposes of the Loan Parties and (iii) to pay any fees and expenses
payable to the Lenders, the Administrative Agent and any other Secured Parties, and, in each case, not for any other purpose,
and (B) with respect to Acquisition Facility Working Capital Loans, only (i) to finance the Loan Parties’ purchase,
storage and sale of Product, (ii) to finance maintenance Capital Expenditures, (iii) for hedging related to the purchase, storage
and sale of Product, (iv) for the general working capital purposes of the Loan Parties, (v) to finance the carrying of accounts
receivable, (vi) for the payment of contractual margin calls (with respect to exchange-traded contracts, over-the-counter contracts
and otherwise) or establishment of reserves in connection therewith, (vii)  for the making of Restricted Payments to the
extent permitted by Section 8.5 below, (viii) to support certain working capital requirements related to the Loan
Parties’ marketing activities and (ix) to pay any fees and expenses payable to the Lenders, the Administrative Agent
and any other Secured Parties, and, in each case, not for any other purpose.

 

    	-168-	 

     

    

 

(d)             Letters of Credit under the Acquisition Facility shall be used only (1) on the Restatement Effective Date, to refinance
any Existing Acquisition Facility Letters of Credit outstanding under the Existing Credit Agreement; provided, that any such refinancing
may be accomplished pursuant to Sections 3.1 or 3.2 hereof and (2) thereafter, (A) with respect to Acquisition Facility
Acquisition Letters of Credit, only (i) to support the acquisition of Acquisition Assets, the repayment or refinancing of
all or any portion of any outstanding Acquisition Facility Acquisition Extensions of Credit, (ii) for general corporate purposes
of the Loan Parties, distinct and separate from the general working capital purposes of the Loan Parties and (iii) for Acquisition
Facility Performance Letters of Credit; provided, that Acquisition Facility Transportation Letters of Credit shall be in
an aggregate amount not to exceed the Acquisition Facility Transportation Letter of Credit Sub-Limit and shall be as long as the
Acquisition Facility Extensions of Credit do not exceed the Eligible Acquisition Asset Value, and, in each case, not for any other
purpose, and (B) with respect to Acquisition Facility Working Capital Letters of Credit (i) for the general working capital purposes
of the Loan Parties, (ii) to facilitate and finance the purchase of Product for resale or storage, (iii) to secure the obligations
of any Loan Party under any contract or agreement or in connection with any legal requirement or governmental permit, such as transportation
obligations, bonding obligations, performance and margin-related obligations related to hedging of Product and (iv) to support
maintenance Capital Expenditures, and, in each case, not for any other purpose.

 

5.22         
Environmental Matters. Except as set forth on Schedule 5.22:

 

(a)             To
the best of each Loan Party’s knowledge and belief, such knowledge and belief being that of a reasonable person who had
conducted due diligence and good faith inquiry, the facilities and properties owned, leased or operated by the Loan Parties (the
 “Properties”) do not contain, and have not previously contained, any Materials of Environmental Concern in
amounts or concentrations which (i) constitute or constituted a violation of, or (ii) could give rise to liability under,
any Environmental Law except in either case insofar as such violation or liability, or any aggregation thereof, is not reasonably
likely to result in a Material Adverse Effect.

 

(b)            To the best of each Loan Party’s knowledge and belief, such knowledge and belief being that of a reasonable person
who had conducted due diligence and good faith inquiry, (i) except where the failure to be in compliance could not reasonably
be expected to have a Material Adverse Effect, the Properties and all operations at the Properties are in compliance, and have,
for the lesser of the last five years or for the duration of their ownership, lease, or operation by Loan Parties, been in compliance
in all material respects with all applicable Environmental Laws and Environmental Permits, and (ii) there is no contamination
at, under or about the Properties or violation of any Environmental Law or Environmental Permit with respect to the Properties
or the business at the Properties operated by Loan Parties (the “Business”) which could materially interfere
with the continued operation of the Properties or materially impair the fair saleable value thereof. All Environmental Permits
necessary in connection with the ownership and operation of each Loan Party’s business have been obtained and are in full
force and effect, except where any such failure to obtain and maintain in full force and effect (individually or in the aggregate)
has not had and is not reasonably likely to result in a Material Adverse Effect. Without limiting the foregoing, all material permits,
registrations, licenses or similar authorizations or notifications required to construct and operate bulk storage tanks and other
bulk storage facilities at the Properties are in effect.

 

(c)             No
Loan Party has received any written notice of violation, alleged violation, non-compliance, liability or potential liability pursuant
to Environmental Laws or Environmental Permits with regard to any of the Properties or the Business, nor do the Loan Parties have
knowledge or reason to believe that any such notice will be received or is being threatened, except insofar as such notice or
threatened notice, or any aggregation thereof, does not involve a matter or matters that is or are reasonably likely to result
in a Material Adverse Effect.

 

    	-169-	 

     

    

 

(d)             To
the best of each Loan Party’s knowledge and belief, such knowledge and belief being that of a reasonable person who had
conducted due diligence and good faith inquiry, 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 which 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, except insofar as any
such violation or liability referred to in this paragraph, or any aggregation thereof, is not reasonably likely to result in a
Material Adverse Effect.

 

(e)             No
judicial proceeding or governmental or administrative action is pending or, to the knowledge of any Loan Party, threatened, under
any Environmental Law to which any Loan Party is or will be named as a party with respect to any of 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 or liens outstanding under any Environmental Law with respect to any of the Properties or the Business,
except insofar as such proceeding, action, decree, order or other requirement or lien, or any aggregation thereof, is not reasonably
likely to result in a Material Adverse Effect.

 

(f)              There
has been no Release of Materials of Environmental Concern at or from any of the Properties arising from or related to the operations
of any Loan Party in connection with any of the Properties or otherwise in connection with the Business and, to the knowledge
of each Loan Party, no other Person has caused or suffered to exist any Release of Materials of Environmental Concern at or from
the Properties, in violation of or in amounts or in a manner that could give rise to liability under Environmental Laws, except
insofar as any such violation or liability referred to in this paragraph, or any aggregation thereof, is not reasonably likely
to result in a Material Adverse Effect.

 

5.23          
Risk Management Policy. The Risk Management Policy has been duly adopted in accordance with the internal risk policies
of the U.S. Borrower, is in full force and effect with respect to all Loan Parties, and has been previously delivered to the Administrative
Agent (for distribution to the Lenders) and certified by a Responsible Person of the U.S. Borrower as being a true and correct
copy and in full force and effect, and the Risk Management Policy in effect as of the Restatement Effective Date is attached hereto
as Exhibit I.

 

5.24          
Anti-Corruption Laws and Sanctions. The U.S. Borrower has implemented and maintains in effect policies and procedures
designed to ensure compliance by the U.S. Borrower, its Subsidiaries and their respective directors, officers, employees and agents
with Anti-Corruption Laws and applicable Sanctions, and the U.S. Borrower, its Subsidiaries and their respective officers and employees,
and to the knowledge of the U.S. Borrower its Affiliates, directors and agents, are in compliance with Anti-Corruption Laws, applicable
Requirements of Law relating to money laundering and applicable Sanctions in all material respects and are not knowingly engaged
in any activity that would reasonably be expected to result in the U.S. Borrower or the Canadian Borrower being designated as a
Sanctioned Person. None of (a) the U.S. Borrower, any Subsidiary or to the knowledge of the U.S. Borrower or such Subsidiary
any of their respective directors, officers, employees or Affiliates, or (b) to the knowledge of the U.S. Borrower, any agent
of the U.S. Borrower or any Subsidiary that will act in any capacity in connection with or benefit from the credit facility established
hereby, is a Sanctioned Person. No Loan or Letter of Credit, use of proceeds or other transaction contemplated by this Agreement
will violate Anti-Corruption Laws, applicable Requirements of Law relating to money laundering or applicable Sanctions.

 

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5.25         
Canadian Pension Plan and Benefit Plans. Schedule 5.25 lists all Canadian Benefit Plans and Canadian
Pension Plans currently maintained or contributed to the Loan Parties and their Subsidiaries. The Canadian Pension Plans are duly
registered under the ITA and all other applicable laws which require registration. Each Loan Party and each of their Subsidiaries
has in all material respects complied with and performed its obligations under and in respect of the Canadian Pension Plans and
Canadian Benefit Plans under the terms thereof, any funding agreements and all applicable laws (including any fiduciary, funding,
investment and administration obligations). All employer and employee payments, contributions or premiums to be remitted, paid
to or in respect of each Canadian Pension Plan or Canadian Benefit Plan have been paid in a timely fashion in compliance in all
material respects with the terms thereof, any funding agreement and all applicable laws. There have been no withdrawals or applications
of the assets of the Canadian Pension Plans or the Canadian Benefit Plans contrary to the terms of the Canadian Pension Plans or
the Canadian Benefit Plans, respectively, or applicable law. No promises of benefit improvements under the Canadian Pension Plans
or the Canadian Benefit Plans have been made except where such improvement could not be reasonably expected to have a Material
Adverse Effect and, in any event, no such improvements will result in a solvency deficiency or going concern unfunded liability
in the affected Canadian Pension Plans. The pension fund under each Canadian Pension Plan is exempt from the payment of any income
tax and there are no taxes, penalties or interest owing in respect of any such pension fund. All material reports and disclosures
relating to the Canadian Pension Plans required by such plans and any Requirement of Law to be filed or distributed have been filed
or distributed. There has been no partial termination of any Canadian Pension Plan and no facts or circumstances have occurred
or existed that could result, or be reasonably anticipated to result, in the declaration by a regulatory authority of a partial
termination of any Canadian Pension Plan under Requirements of Law. Except as set forth on Schedule 5.25, there are
no outstanding disputes concerning the assets of the Canadian Pension Plans or the Canadian Benefit Plans. Except as set forth
on Schedule 5.25, each of the Canadian Pension Plans is fully funded on both a going concern and on a solvency basis
(using actuarial methods and assumptions which are consistent with the valuations last filed with the applicable Governmental Authorities
and which are consistent with generally accepted actuarial principles). The Loan Parties that are Non-U.S. Subsidiaries do not
have employees or own any assets located outside of Canada.

 

5.26         
EEA Financial Institutions. No Loan Party
is an Affected Financial Institution.

 

5.27         
Beneficial Ownership Certification. As of (a) the
Restatement Effective Date, the information included in the Beneficial Ownership Certification delivered pursuant to Section
6.1(y)(ii) is true and correct in all respects and (b) the date delivered, the information included in each Beneficial Ownership
Certification delivered pursuant to Section 7.13(a)(iii) is true and correct in all respects.

 

    	-171-	 

     

    

 

SECTION
6        CONDITIONS
PRECEDENT

 

6.1             Conditions Precedent. WITHOUT LIMITING THE UNCOMMITTED NATURE OF THE UNCOMMITTED TRANCHE UNDER THIS AGREEMENT, the
effectiveness of this Agreement is subject to the satisfaction or waiver of the following conditions precedent:

 

(a)            
Loan Documents. The Administrative Agent shall have received:

 

(i)        this
Agreement, executed and delivered by a duly authorized officer of each Borrower, the Administrative Agent and each Lender set
forth on Schedule 1.0;

 

(ii)       the U.S. Omnibus Amendment Agreement, executed and delivered by a duly authorized officer of each Loan Party party thereto;

 

(iii)      the
Canadian Omnibus Amendment Agreement, executed and delivered by a duly authorized officer of each Loan Party party thereto;

 

(iv)      the
Canadian Pledge Agreement Supplement, executed and delivered by a duly authorized officer of Sprague Resources Canada;

 

(v)       the
Addendum to Canadian Security Agreement, executed and delivered by a duly authorized officer of Sprague Resources Canada;

 

(vi)      the
Pledge Agreement Supplement, executed and delivered by a duly authorized officer of Sprague Natural Gas LLC;

 

(vii)     the Addendum to Security Agreement, executed and delivered by a duly authorized officer of Sprague Natural Gas LLC;

 

(viii)    the
Addendum to Guarantee, executed and delivered by a duly authorized officer of each of Sprague Resources Canada and Sprague Natural
Gas LLC;

 

(ix)       with
respect to any Successor Agent Document in respect of a Quebec Security Document that is currently in effect immediately prior
to giving effect to the Restatement Effective Date, (A) an assignment agreement in respect of such Quebec Security Document and
(B) a new deed of hypothec, in each case, executed and delivered by a duly authorized officer or attorney of each party thereto;

 

(x)        the
Perfection Certificate, executed and delivered by a duly authorized officer of each Loan Party;

 

(xi)       an
amended and restated subordination agreement with respect to Intercompany Subordinated Indebtedness substantially in the form
of Exhibit H-1, executed and delivered by a duly authorized officer of each party thereto;

 

(xii)      for each Dollar Working Capital Facility Committed Tranche Lender requesting the same, a Note of the Borrowers substantially
in the form of Exhibit A-1 and conforming to the requirements hereof and executed by a duly authorized officer of each
Borrower;

 

    	-172-	 

     

    

 

(xiii)    for
each Dollar Working Capital Facility Uncommitted Tranche Lender requesting the same, a Note of the Borrowers substantially in
the form of Exhibit A-2 and conforming to the requirements hereof and executed by a duly authorized officer of each
Borrower;

 

(xiv)    for
each Multicurrency Working Capital Facility Lender requesting the same, a Note of the Borrowers substantially in the form of Exhibit A-3
and conforming to the requirements hereof and executed by a duly authorized officer of each Borrower;

 

(xv)     for each Dollar Committed Tranche Swing Line Lender requesting the same, a Note of the Borrowers substantially in the form
of Exhibit A-4 and conforming to the requirements hereof and executed by a duly authorized officer of each Borrower;

 

(xvi)    for each Dollar Uncommitted Tranche Swing Line Lender requesting the same, a Note of the Borrowers substantially in the
form of Exhibit A-5 and conforming to the requirements hereof and executed by a duly authorized officer of each Borrower;

 

(xvii)   for
each Multicurrency Swing Line Lender requesting the same, a Note of the Borrowers substantially in the form of Exhibit A-6
and conforming to the requirements hereof and executed by a duly authorized officer of each Borrower;

 

(xviii)  for each Acquisition Facility Lender requesting the same, a Note of the Borrowers substantially in the form of Exhibit A-7
and conforming to the requirements hereof and executed by a duly authorized officer of each Borrower;

 

(xix)     each of the Account Control Agreements, executed and delivered by a duly authorized officer of each party thereto; provided
that (i) to the extent an Account Control Agreement was executed and delivered under the Existing Credit Agreement and remains
in full force and effect after giving effect to the Restatement Effective Date, a new Account Control Agreement shall not be required
(provided that to the extent any amendment to, or assignment of, an existing Account Control Agreement is required in order
for it to remain in full force and effect after giving effect to the Restatement Effective Date, such amendment or assignment shall
be executed and delivered on the Restatement Effective Date, or if it cannot be so delivered, shall be delivered in accordance
with Section 7.17, by a duly authorized officer of each party thereto (each, an “Account Control Agreement Amendment
and Assignment”) and (ii) to the extent an Account Control Agreement cannot be delivered with respect to any Pledged
Account on the Restatement Effective Date, such Account Control Agreement shall be delivered in accordance with Section 7.17
by a duly authorized officer of each party thereto;

 

(xx)     the Successor Agent Agreement and, subject to Section 7.17, each other Successor Agent Document, in each case, executed
and delivered by a duly authorized officer of each party thereto;

 

    	-173-	 

     

    

 

(xxi)     a
Trademark Security Agreement, executed and delivered by a duly authorized officer of the U.S. Borrower;

 

(xxii)    a Copyright Security Agreement, executed and delivered by a duly authorized officer of the U.S. Borrower;

 

(xxiii)   a Canadian Trade-mark Security Agreement, executed and delivered by a duly authorized officer of the Canadian Borrower;
and

 

(xxiv)  subject
to Section 7.17, (A) with respect to each Mortgaged Property (other than an Existing Mortgaged Property), a Mortgage and
Security Agreement in respect thereof and (B) with respect to each Existing Mortgaged Property, an amendment to the Mortgage and
Security Agreement in respect thereof, in each case, executed and delivered by a duly authorized officer of each party thereto
and in form and substance reasonably satisfactory to the Administrative Agent.

 

(b)             Secretary’s
Certificates. The Administrative Agent shall have received a certificate of each Loan Party, dated the Restatement Effective
Date, substantially in the form of Exhibit E, with appropriate insertions and attachments, reasonably satisfactory
in form and substance to the Administrative Agent, executed by (i) the President or any Vice President and the Secretary
or any Assistant Secretary on behalf of such Person, or, if applicable, of the general partner or managing member or members of
such Person, on behalf of such Person, or (ii) in the case of any such Person that is a limited liability company, partnership
or limited partnership that does not have any such officers, the general partner, in the case of a partnership or limited partnership,
or, in the case of a limited liability company, the managing member or members of such Person, on behalf of such Person.

 

(c)             Borrowing Base Report; Marked-to-Market Report; Position Report. The Administrative Agent shall have received a Borrowing
Base Report showing the Aggregate Borrowing Base Amount, the U.S. Borrowing Base and the Kildair Borrowing Base, a Marked-to-Market
Report and a Position Report, in each case as of April 30, 2020, with appropriate insertions and supporting schedules and dated
the Restatement Effective Date, reasonably satisfactory in form and substance to the Administrative Agent, and executed by a Responsible
Person of the U.S. Borrower.

 

(d)             Proceedings of the Loan Parties. The Administrative Agent shall have received a copy of the resolutions, in form
and substance reasonably satisfactory to the Administrative Agent, of the Board of Directors (or analogous body) of each Loan Party
authorizing as applicable to such Person (i) the execution, delivery and performance of this Agreement and the other Loan
Documents to which it is a party, (ii) the borrowings contemplated hereunder and (iii) the granting by it of the Liens
created pursuant to the Security Documents, certified on behalf of such Person by the Secretary or an Assistant Secretary of such
Person, or, if applicable, of the general partner or managing member or members of such Person, as of the Restatement Effective
Date, which certification shall be included in the certificate delivered in respect of such Person pursuant to Section 6.1(b),
shall be in form and substance reasonably satisfactory to the Administrative Agent and shall state that the resolutions thereby
certified have not been amended, modified, revoked or rescinded.

 

    	-174-	 

     

    

 

(e)             Incumbency Certificates. The Administrative Agent shall have received a certificate of each Loan Party, dated the
Restatement Effective Date, as to the incumbency and signature of the officers of such Person or, if applicable, of the general
partner or managing member or members of such Person, executing any Loan Document, or having authorization to execute any certificate,
notice or other submission required to be delivered to the Administrative Agent or a Lender pursuant to this Agreement, which certificate
shall be included in the certificate delivered in respect of such Person pursuant to Section 6.1(b), shall be reasonably
satisfactory in form and substance to the Administrative Agent, and shall be executed by the President or any Vice President and
the Secretary or any Assistant Secretary of such Person, or, if applicable, of the general partner or managing member or members
of such Person, on behalf of such Person.

 

(f)              Organizational
Documents. The Administrative Agent shall have received true and complete copies of the Governing Documents of each Loan Party,
certified as of the Restatement Effective Date as complete copies thereof by the Secretary or an Assistant Secretary of such Person,
or, if applicable, of the general partner or managing member or members of such Person, on behalf of such Person, which certification
shall be included in the certificate delivered in respect of such Person pursuant to Section 6.1(b) and shall be in
form and substance reasonably satisfactory to the Administrative Agent.

 

(g)             Good Standing Certificates. The Administrative Agent shall have received certificates of status, compliance or good
standing (as applicable) dated as of a recent date from the Secretary of State or other appropriate authority, evidencing the good
standing of each Loan Party in the jurisdiction of its organization.

 

(h)             Consents, Licenses and Approvals. The Administrative Agent shall have received a certificate of a Responsible Person
of the U.S. Borrower either (x) attaching copies of all consents, authorizations and filings referred to in Section 5.4
(other than the Mortgage and Security Agreements and any UCC financing statement or PPSA financing statement or Civil Code of Quebec
filings filed pursuant to the Security Documents), and stating that such consents, licenses and filings are in full force and effect
or (y) stating that no such consents, licenses or approvals are so required.

 

(i)              U.S. Borrower’s Certificate. The Administrative Agent shall have received a certificate substantially in the
form of Exhibit S signed by a Responsible Person of the U.S. Borrower, stating on behalf of the U.S. Borrower that:

 

(i)        The
representations and warranties contained in Section 5 are true and correct in all material respects on and as of such
date, as though made on and as of such date;

 

(ii)       No Default or Event of Default exists; and

 

(iii)      There
has not occurred since December 31, 2019 (x) a Material Adverse Effect or (y) a development or an event that has
resulted in a material adverse change in the operations, business, assets, properties or condition (financial or other condition)
of Kildair and its Subsidiaries taken as a whole.

 

    	-175-	 

     

    

 

(j)              Fees.
The Administrative Agent, the Arrangers and the Lenders shall have received the fees (including reasonable fees, disbursements
and other charges of counsel to the Administrative Agent) to be received on the Restatement Effective Date referred to herein
and in the Fee Letter and, to the extent invoiced at least two Business Days prior to the Restatement Effective Date (or such
lesser time as agreed by the U.S. Borrower) all reasonable and documented out-of-pocket costs and expenses incurred by the Administrative
Agent and the Lead Arranger in connection with the negotiation of the Loan Documents and due diligence with respect thereto.

 

(k)             Legal Opinions. The Administrative Agent shall have received, with a counterpart for each Lender, the following executed
legal opinions:

 

(i)        the executed legal opinion(s) of Baker Botts L.L.P., counsel to the Loan Parties, in form and substance reasonably
satisfactory to the Administrative Agent and in accordance with customary opinion practice;

 

(ii)       the
executed legal opinion of local Pennsylvania counsel to the Loan Parties, in form and substance reasonably satisfactory to the
Administrative Agent and in accordance with customary opinion practice;

 

(iii)      the
executed  legal opinions of Stikeman Elliott LLP, Canadian counsel to the Loan Parties, in form and substance reasonably
satisfactory to the Administrative Agent and in accordance with customary opinion practice, which opinions shall cover, inter
alia, (i) corporate law matters concerning the Loan Parties organized in Canada and the validity, perfection and priority
of the security interests in the Collateral (other than in respect of any Mortgaged Property) described in the Canadian Security
Agreement and the Canadian Pledge Agreement and, subject to Section 7.17, in each Mortgaged Property located in the Province
of British Columbia or the Province of Ontario, and (ii) the validity, perfection and priority of the security interests in the
Collateral (other than in respect of any Mortgaged Property) described in the Quebec Security Documents and, subject to Section
7.17, in each Mortgaged Property located in the Province of Quebec; and

 

(iv)      subject
to Section 7.17, an executed legal opinion of local counsel to the Loan Parties with respect to each Mortgaged Property
(other than properties located in Canada that are covered in the opinions provided pursuant to Section 6.1(k)(iii)),
in form and substance reasonably satisfactory to the Administrative Agent and in accordance with customary opinion practice.

 

Each such legal opinion
shall cover such other matters incident to the transactions contemplated by this Agreement as the Administrative Agent may reasonably
require in accordance with customary opinion practice.

 

(l)              Successor Agent Agreement. The Effective Date (as defined in the Successor Agent Agreement) shall have occurred.

 

(m)            Risk
Management Policy. The Administrative Agent and the Lenders shall have received a copy of the Risk Management Policy, including
position and other limits, which shall be satisfactory in content and form to the Administrative Agent.

 

    	-176-	 

     

    

 

(n)             Lien Searches. The Administrative Agent shall have received the results of a recent search by a Person reasonably
satisfactory to the Administrative Agent, under the UCC, PPSA, Civil Code of Quebec and equivalent legislation in all relevant
jurisdictions and all customary judgment and tax Lien searches for financing transactions of this nature in all applicable jurisdictions,
which may have been filed with respect to personal property of the Loan Parties, and the results of such search shall be reasonably
satisfactory to the Administrative Agent.

 

(o)             Actions to Perfect Liens. Subject to the limitations provided in Section 7.17, all filings, recordings,
registrations and other actions, including the filing of financing statements on form UCC-1, PPSA financing statements and filings
under the Civil Code of Quebec, necessary or, in the opinion of the Administrative Agent, desirable to perfect, or continue the
perfection of, the Liens created by the Security Documents, shall have been filed, registered or recorded or shall have been delivered
to the Administrative Agent or the title insurance company issuing the policy referred to in Section 6.1(u) (the “Title
Insurance Company”) in proper form for filing, registration or recordation.

 

(p)            Termination
and Release from Existing Account Control Agreements. The Administrative Agent shall have received evidence satisfactory to
it of the termination of any account control agreement executed and delivered under the Existing Credit Agreement for which a
new Account Control Agreement is being entered into as of the Restatement Effective Date in favor of the Administrative Agent,
or if such account control agreement cannot be terminated and such new Account Control Agreement cannot be entered into, in each
case, on the Restatement Effective Date, such evidence shall have been received by the Administrative Agent in accordance with
Section 7.17.

 

(q)            [Reserved].

 

(r)             Financial Statements. The Administrative Agent and the Lenders shall have received each of the following:

 

(i)        the most recently required financial statements or other information required to be delivered under Section 7.1 of the Existing
Credit Agreement, together with such additional financial information as the Administrative Agent shall reasonably request; and

 

(ii)       a projected income statement and balance sheet (the “Projections”) for the MLP and its consolidated Subsidiaries
for each Fiscal Year beginning after the Restatement Effective Date and ending on or prior to December 31, 2022, in each case
prepared in accordance with GAAP adjusted on an Economic Basis plus or minus any Allowed Reserve, and accompanied
by such information as the Administrative Agent may reasonably request to confirm the tax, legal and business assumptions made
in such projections.

 

    	-177-	 

     

    

 

(s)             Insurance.
The Administrative Agent shall have received, subject to Section 7.17, (i) evidence in form and substance reasonably
satisfactory to it that all of the insurance-related requirements of Section 7.5 hereof and Section 5(q) of the
U.S. Security Agreement and Section 5(p) of the Canadian Security Agreement, as applicable, shall have been satisfied and
(ii) evidence that the premiums then due and payable on each insurance policy have been paid, and with respect to flood insurance
policies, (A) they shall be endorsed or otherwise amended to include a “standard” or “New York” lender’s
loss payable or mortgagee endorsement (as applicable), (B) shall name the Administrative Agent as additional insured or loss
payee, as applicable, (C) shall (x) identify the addresses of each property located in a special flood hazard area or,
in the case of Mortgaged Property located in Canada, a flood plain, (y) indicate the applicable flood zone designation, the
flood insurance coverage and the deductible relating thereto and (z) provide that the insurer will give the Administrative
Agent 30 days written notice of cancellation or non-renewal.

 

(t)              Appraisals; Surveys. The Administrative Agent shall have received, subject to Section 7.17, (x)(i) real
property appraisals with respect to each Mortgaged Property (other than any Existing Mortgaged Property) from an appraiser reasonably
acceptable to the Administrative Agent and (ii) current or existing ALTA/ACSM surveys with respect to each Mortgaged Property
(other than any Existing Mortgaged Property) reasonably acceptable to the Administrative Agent and which is sufficient for the
title insurance company to remove the survey exception for each Mortgage Policy and to issue such survey dependent endorsements
as are reasonably requested by the Administrative Agent and (y)(i) the real property appraisals with respect to each Existing Mortgaged
Property that were delivered pursuant to the Existing Credit Agreement and (ii) the ALTA/ACSM surveys with respect to each Existing
Mortgaged Property that were delivered pursuant to the Existing Credit Agreement.

 

(u)            Title
Insurance Policy. The Administrative Agent shall have received, subject to Section 7.17, (x) with respect to each Mortgage
and Security Agreement intended to encumber an Existing Mortgaged Property, date-down endorsement and amendment to the existing
title insurance policy or policies covering title insurance in the name of the Administrative Agent for the ratable benefit of
the Secured Parties and insuring the Lien of the Mortgage and Security Agreement on such Existing Mortgaged Property, in an amount
equal to, for any fee mortgage policy, the aggregate of the land value and insurable building and improvements value of such Existing
Mortgaged Property (or such lesser amount as may be acceptable to Administrative Agent) and evidence that all premiums in respect
of the date-down endorsements and amendments or title policies have been paid, and for any leasehold mortgage policy, an agreed
upon value of the leasehold estate reasonably acceptable to Administrative Agent, issued by a nationally recognized title insurance
company insuring the Lien of such Mortgage and Security Agreement as a valid first Lien on the Mortgaged Property described therein,
free of all other Liens that are not expressly permitted under this Agreement, containing no general survey exception or mechanics
lien exception and issued together with such endorsements and affirmative coverage as the Administrative Agent may reasonably
request and evidence that all premiums in respect thereto have been paid and (y) with respect to each Mortgage and Security Agreement
intended to encumber a Mortgaged Property (other than an Existing Mortgaged Property), a policy or policies of title insurance
insuring the Lien of the Mortgage and Security Agreement on such Mortgaged Property, in an amount equal to, for any fee mortgage
policy, the aggregate of the land value and insurable building and improvements value of such Mortgaged Property (or such lesser
amount as may be acceptable to Administrative Agent), and for any leasehold mortgage policy, an agreed upon value of the leasehold
estate reasonably acceptable to Administrative Agent (the mortgage policies delivered pursuant to clause (x) or (y), the “Mortgage
Policies”), issued by a nationally recognized title insurance company insuring the Lien of such Mortgage and Security
Agreement as a valid first Lien on the Mortgaged Property described therein, free of all other Liens that are not expressly permitted
under this Agreement, containing no general survey exception or mechanics lien exception and issued together with such endorsements
and affirmative coverage as the Administrative Agent may reasonably request and evidence that all premiums in respect thereto
have been paid.

 

    	-178-	 

     

    

 

(v)              
Solvency. The Administrative Agent shall have received a solvency certificate substantially in the form of Exhibit V
from either the chief financial officer of the MLP or the General Partner.

 

(w)             
Copies of Recorded Documents. The Administrative Agent shall have received, subject to Section 7.17, a copy
of all recorded documents referred to, or listed as exceptions to title in, the title policy or policies referred to in Section 6.1(u).

 

(x)               
Environmental Reports. The Administrative Agent shall have received, subject to Section 7.17: (x) (i) for
each Mortgaged Property (other than an Existing Mortgaged Property), a Phase I ESA, in each case prepared by an environmental consultant
reasonably acceptable to the Administrative Agent, in form, scope, and substance reasonably satisfactory to the Administrative
Agent, together with a letter from the environmental consultant permitting the Administrative Agent and the Lenders to rely on
the environmental assessment as if addressed to and prepared for each of them and (y) with respect to any Existing Mortgaged Property,
the environmental reports that were delivered pursuant to the Existing Credit Agreement, together with evidence satisfactory that
the Administrative Agent and the Lenders are permitted to rely on the environmental assessment as if addressed to and prepared
for each of them.

 

(y)              
  PATRIOT Act; CAML. The Administrative Agent shall have received, no later than five (5) days prior to the Restatement
Effective Date, (i) all documentation and other information requested by the Administrative Agent no later than ten (10) days prior
to the Restatement Effective Date that are required by bank regulatory authorities under applicable “know your customer”
and anti-money laundering rules and regulations, including the USA PATRIOT Act and CAML and (ii) a Beneficial Ownership Certification
in relation to each Loan Party.

 

(z)               
Flood Determination. The Administrative Agent and Lenders shall have received, subject to Section 7.17, in
form and substance reasonably acceptable to the Administrative Agent, (i) a “Life-of-Loan” Federal Emergency Management
Agency Standard Flood Hazard Determination with respect to each Mortgaged Property located in the United States, (ii) for
each Mortgaged Property located in the United States that is located in a special flood hazard area, a notice about special flood
hazard area status and flood disaster assistance duly executed by the U.S. Borrower and (iii) for each Mortgaged Property
located in the United States that is located in a special flood hazard area and for each Mortgaged Property located in Canada that
is located in a flood plain, (A) flood insurance, in an amount reasonably satisfactory to the Administrative Agent, (1) maintained
with a financially sound and reputable insurer, (2) covering buildings and contents for such Mortgaged Property and (3) otherwise
complying with Section 6.1(s).

 

    	-179-	 

     

    

 

(aa)            
No Change. There has not occurred since December 31, 2019 (x) a Material Adverse Effect or (y) a development
or an event that has resulted in a material adverse change in the operations, business, assets, properties or condition (financial
or other condition) of Kildair and its Subsidiaries taken as a whole.

 

(bb)           
Additional Matters. All corporate and other proceedings, and all documents, instruments and other legal matters in
connection with the transactions contemplated by this Agreement and the other Loan Documents shall be reasonably satisfactory in
form and substance to the Administrative Agent, and the Administrative Agent shall have received such other documents and legal
opinions in respect of any aspect or consequence of the transactions contemplated hereby or thereby as it shall reasonably request.

 

6.2            
Conditions to Each Credit Extension. WITHOUT LIMITING THE UNCOMMITTED NATURE OF THE UNCOMMITTED TRANCHE UNDER THIS
AGREEMENT, the obligation of each Lender to make (or consider making) any Loan requested to be made by it on any date (including
its initial Loan, if any) and the agreement of the Issuing Lenders to issue (or consider issuing) or provide (or consider providing)
any Letter of Credit (including the initial Letters of Credit, if any) is subject to the satisfaction or waiver of the following
conditions precedent:

 

(a)              
Borrowing Notice or Letter of Credit Request. The Administrative Agent shall have received a Borrowing Notice or
Letter of Credit Request pursuant to Section 2.5 or Section 3.3, as the case may be.

 

(b)              
Representations and Warranties. Each of the representations and warranties made by the U.S. Borrower and the other
Loan Parties in or pursuant to the Loan Documents shall be true and correct in all material respects (except that any representation
and warranty that is qualified by “materiality” or “Material Adverse Effect” shall be true and correct
in all respects as so qualified) on and as of such date as if such representation and warranty was made on and as of such date,
except to the extent any such representation and warranty relates solely to a specified prior date, in which case such representation
and warranty shall have been true and correct in all material respects as of such specified date.

 

(c)              
No Default. 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.

 

(d)              
Borrowing Base Report. The Administrative Agent shall have timely received a Borrowing Base Report for the most recent
period for which such Borrowing Base Report is required to be delivered in accordance with Section 6.1(c) or Section 7.2(c),
as applicable.

 

(e)              
Borrowing Availability. After giving effect to such extension of credit requested to be made on such date,

 

(i)               
the sum of the Total Working Capital Facility Extensions of Credit and the Total Acquisition Facility Working Capital Extensions
of Credit shall not exceed the Aggregate Borrowing Base Amount as of such date,

 

    	-180-	 

     

    

 

(ii)              
the Total Acquisition Facility Acquisition Extensions of Credit shall not exceed the Eligible Acquisition Asset Value,

 

(iii)             
the Total Acquisition Facility Extensions of Credit shall not exceed the aggregate Acquisition Facility Commitments,

 

(iv)             
the Total Dollar Working Capital Facility Committed Tranche Extensions of Credit shall not exceed the aggregate Dollar Working
Capital Facility Commitments,

 

(v)              
the Total Dollar Working Capital Facility Uncommitted Tranche Extensions of Credit shall not exceed the Total Dollar Working
Capital Facility Uncommitted Tranche Portions

 

(vi)             
the Total Multicurrency Working Capital Facility Extensions of Credit shall not exceed the aggregate Multicurrency Working
Capital Facility Commitments,

 

(vii)            
such extension of credit shall not result in any Applicable Sub-Limit (with each Applicable Sub-Limit calculated including
the Dollar Equivalent of any included Extensions of Credit denominated in Canadian Dollars) being exceeded,

 

(viii)           
with respect to any such extension of credit under the Acquisition Facility, the Loan Parties shall be in compliance with
the covenants set forth in Section 8.1 calculated on a Pro Forma Basis, and

 

(ix)             
the Administrative Agent shall have received a certificate of a Responsible Person of the U.S. Borrower (such certificate,
the “Availability Certification”) certifying as to the satisfaction of each of the specific conditions set forth
in Sections 6.2(b) and (c) and clauses (i)-(viii) of Section 6.2(e) as of such date.

 

(f)               
Working Capital Facility Extensions of Credit. If, at the time any Borrower requests any extension of credit under
any Working Capital Facility, the then outstanding principal balance of the Total Working Capital Facility Extensions of Credit
(including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit) is less than $35,593,600
(such requested extension of credit, a “Working Capital Taxable Advance”), then, with respect to any Mortgage
covering real property located in the State of New York which has a Secured Amount (as defined in each such Mortgage) allocated
to the Total Working Capital Facility Extensions of Credit which is more than the then outstanding principal balance of the Total
Working Capital Facility Extensions of Credit (prior to giving effect to the Working Capital Taxable Advance and calculated including
the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit), the U.S. Borrower shall cause to be
recorded in the appropriate land records in which such Mortgage is recorded a supplemental instrument in form and substance satisfactory
to the Administrative Agent which evidences that each such Mortgage secures such Working Capital Taxable Advance, and the Borrowers
shall pay all applicable mortgage recording tax on that portion of the Working Capital Taxable Advance which equals the lesser
of (i)(A) the excess of the Secured Amount (as defined in each such Mortgage) of each such Mortgage which is allocated to
the Total Working Capital Extensions of Credit over (B) the then outstanding principal balance of the Total Working Capital
Extensions of Credit (including the Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit) allocated
to such Mortgage without giving effect to such Working Capital Taxable Advance and (ii) (A) the excess of the outstanding
principal balance of the Total Working Capital Facility Extensions of Credit (including the Dollar Equivalent of the face amount
of all Working Capital Facility Letters of Credit) allocated to such Mortgage after giving effect to the Working Capital Taxable
Advance over (B) the outstanding principal balance of the Total Working Capital Facility Extensions of Credit (including the
Dollar Equivalent of the face amount of all Working Capital Facility Letters of Credit) allocated to such Mortgage prior to the
Working Capital Taxable Advance. Before such Working Capital Taxable Advance is made, the U.S. Borrower shall furnish the Administrative
Agent with a recorded, stamped copy of such supplemental instrument(s) and evidence satisfactory to the Administrative Agent that
all applicable mortgage recording tax due in connection with such Working Capital Taxable Advance (and the recording of such supplemental
instrument(s) has been paid.

 

    	-181-	 

     

    

 

(g)              
Acquisition Facility Extensions of Credit. If, at the time any Borrower requests any extension of credit under the
Acquisition Facility, the then outstanding principal balance of the Total Acquisition Facility Extensions of Credit (including
the face amount of all Acquisition Facility Letters of Credit) is less than $20,406,400 (such requested extension of credit, an
 “Acquisition Taxable Advance”), then, with respect to any Mortgage covering real property located in the State
of New York which has a Secured Amount (as defined in each such Mortgage) allocated to the Acquisition Facility Extensions of Credit
which is more than the then outstanding principal balance of the Total Acquisition Facility Extensions of Credit (prior to giving
effect to the Acquisition Taxable Advance and calculated including the face amount of all Acquisition Facility Letters of Credit),
the U.S. Borrower shall cause to be recorded in the appropriate land records in which such Mortgage is recorded a supplemental
instrument in form and substance satisfactory to the Administrative Agent which evidences that each such Mortgage secures such
Acquisition Taxable Advance, and the Borrowers shall pay all applicable mortgage recording tax on that portion of the Acquisition
Taxable Advance which equals the lesser of (i) (A) the excess of the Secured Amount (as defined in each such Mortgage)
of each such Mortgage which is allocated to the Total Acquisition Facility Extensions of Credit over (B) the then outstanding
principal balance of the Total Acquisition Facility Extensions of Credit (including the face amount of all Acquisition Facility
Letters of Credit) allocated to such Mortgage without giving effect to such Acquisition Taxable Advance and (ii) (A) the
excess of the outstanding principal balance of the Total Acquisition Facility Extensions of Credit (including the face amount of
all Acquisition Facility Letters of Credit) allocated to such Mortgage after giving effect to the Acquisition Taxable Advance over
(B) the outstanding principal balance of the Total Acquisition Facility Extensions of Credit (including the face amount of
all Acquisition Facility Letters of Credit) allocated to such Mortgage prior to the Acquisition Taxable Advance. Before such Acquisition
Taxable Advance is made, the U.S. Borrower shall furnish the Administrative Agent with a recorded, stamped copy of such supplemental
instrument(s) and evidence satisfactory to the Administrative Agent that all applicable mortgage recording tax due in connection
with such Acquisition Taxable Advance (and the recording of such supplemental instrument(s) has been paid.

 

SECTION
7        AFFIRMATIVE
COVENANTS

 

Each of the Borrowers
hereby jointly and severally agrees that, commencing on the Restatement Effective Date and continuing so long as any of the Commitments
or Dollar Working Capital Facility Uncommitted Tranche Portions remain in effect, any Letter of Credit remains outstanding that
has not been Cash Collateralized or any amount is owing to any Lender or the Administrative Agent hereunder or under any other
Loan Document (except contingent indemnification and expense reimbursement obligations for which no claim has been made), each
Loan Party shall:

 

    	-182-	 

     

    

 

7.1              
Financial Statements. Furnish to the Administrative Agent (for distribution to each Lender):

 

(a)              
as soon as available, but in any event within one hundred twenty (120) days after the end of each Fiscal Year of the
MLP commencing with the Fiscal Year ending on December 31, 2019, a copy of (i) the audited consolidated balance sheet
of the MLP and its consolidated Subsidiaries as at the end of such year, (ii) the audited consolidated balance sheet of Kildair
and its consolidated Subsidiaries as at the end of such year, in each case with the related consolidated statements of income and
retained earnings and cash flows for such year, prepared in accordance with GAAP and 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 (other
than any qualification or exception that is expressly solely with respect to, or expressly resulting from (x) any Maturity Date
occurring within one year from the time such opinion is delivered or (y) any actual or potential inability to satisfy a financial
covenant under Section 8.1), or qualification arising out of the scope of the audit, by Ernst & Young LLP or other
independent certified public accountants of nationally recognized standing, and (iii) the unaudited consolidated balance sheet
of Sprague Resources Canada and its consolidated Subsidiaries that are Loan Parties as at the end of such year, in each case with
the related consolidated statements of income and retained earnings and cash flows for such year, prepared in accordance with GAAP;

 

(b)              
as soon as available, but in any event not later than 45 days after the end of each fiscal quarter of the MLP (except
for the fourth fiscal quarter of each Fiscal Year of the MLP), the unaudited consolidated balance sheet of the MLP and its consolidated
Subsidiaries as at the end of such fiscal quarter and the related unaudited consolidated statements of income and retained earnings
and cash flows for such quarter and the portion of the Fiscal Year through the end of such quarter, prepared in accordance with
GAAP and setting forth, in each case in comparative form the figures for the previous year, certified by a Responsible Person of
the U.S. Borrower as being fairly presented in all material respects (subject to normal year end audit adjustments and the absence
of footnotes);

 

(c)              
as soon as available, but in any event not later than 30 days after the end of each calendar month, the unaudited consolidated
and consolidating balance sheet of the MLP and its consolidated Subsidiaries as at the end of such calendar month and the related
unaudited consolidated and consolidating statements of income and the unaudited consolidated retained earnings and cash flows for
such month and the portion of the Fiscal Year through the end of such month, prepared in accordance with GAAP adjusted on an Economic
Basis plus or minus any Allowed Reserve, as applicable, and setting forth, beginning with the first calendar month
ending after the Restatement Effective Date, in each case in comparative form the figures for the previous year, certified by a
Responsible Person of the U.S. Borrower, as being fairly presented in all material respects (subject to normal year-end audit adjustments
and the absence of footnotes);

 

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(d)              
as soon as available, but in any event not later than 60 days after the commencement of each Fiscal Year of the U.S. Borrower,
the Annual Budget for such Fiscal Year;

 

(e)              
as soon as available, but in any event not later than 30 days after the end of each calendar month, (i) the Operating
Forecast for the next succeeding calendar month and (ii) a comparison of actual performance (as to income) of the MLP and
its consolidated Subsidiaries against the Operating Forecast for such calendar month;

 

(f)               
concurrently with the delivery of the financial statements referred to in Section 7.1(a), a Reconciliation Summary
for the annual financial statements delivered pursuant to Section 7.1(a); and

 

(g)              
concurrently with the delivery of the financial statements referred to in Section 7.1(c), a Reconciliation Summary
for the monthly financial statements delivered pursuant to Section 7.1(c).

 

All such financial statements
(other than the Annual Budgets and the Operating Forecasts) shall present fairly in all material respects the financial condition
of the Persons covered by such financial statements as at such date and shall be prepared in reasonable detail and, except as noted
herein, in accordance with GAAP or GAAP adjusted on an Economic Basis plus or minus any Allowed Reserve, as applicable,
applied consistently throughout the periods reflected therein and with prior periods (except as approved by such accountants or
officer, as the case may be, and disclosed therein and, with regard to the non-annual financial statements, subject to normal year-end
adjustments and the absence of footnotes). The Annual Budgets and the Operating Forecasts shall have been prepared in good faith
under the direction of a Responsible Person of the General Partner (or, after the effectiveness of the Approved Organizational
Changes, the MLP) and based upon good faith estimates and assumptions believed by the Loan Parties 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. Information required to be delivered pursuant to this Section 7.1 shall be
deemed to have been delivered if such information, or one or more annual or quarterly or other reports or proxy statements containing
such information, shall have been posted and shall remain available on a website maintained by the SEC (such reports or proxy statements,
the “SEC Filings”), provided that the U.S. Borrower shall have notified (which may be made by facsimile
or electronic mail) the Administrative Agent of the posting of any such information pursuant to Section 7.7(l). In
addition, and notwithstanding any other provision of this Section 7.1, to the extent any SEC Filing shall have been
certified by a Responsible Officer of the MLP, no further certification by the U.S. Borrower shall be required under this Section 7.1
with respect to the information contained in such SEC Filing; provided, that the MLP hereby allows the Administrative Agent
and the Lenders to rely upon such certification as if such certification had been made to the Administrative Agent and the Lenders.

 

7.2             
Certificates; Other Information. Furnish to the Administrative Agent (for distribution to the Lenders, including,
if requested by a Lender, through posting on Intralinks or other web site in use to distribute information to the Lenders):

 

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(a)              
concurrently with the delivery of the financial statements referred to in Section 7.1(a), a certificate of the
independent certified public accountants reporting on such financial statements, if such accountants are willing to provide such
certificate (provided that if such independent certified public accountants are unwilling to provide such certificate and
such certificate is customarily given by independent certified public accountants of nationally recognized standing in the market,
the Loan Parties shall engage another certified public accountant willing to provide such certificate), stating in substance that
in making the examination necessary therefor no knowledge was obtained of any Default or Event of Default arising out of the financial
covenants in Section 8.1, except as specified in such certificate;

 

(b)              
concurrently with the delivery of the financial statements referred to in Section 7.1(c), a certificate of a
Responsible Person of the U.S. Borrower substantially in the form of Exhibit O (such a certificate, a “Compliance
Certificate”) (A) stating that such Responsible Person has obtained no knowledge of any Default or Event of Default,
in each case except as specified in such certificate, (B) stating the Loan Parties are in material compliance with the Risk
Management Policy and (C) showing in detail the calculations supporting such Person’s certification of the Loan Parties’
compliance with the requirements of Sections 8.1(a) and 8.7 and, if such period ends on a date which is also the
end date of a fiscal quarter, the requirements of Sections 8.1(b) and 8.1(c);

 

(c)              
(x) within seven (7) Business Days after the last day of each calendar month, a Borrowing Base Report for the
Loan Parties dated the last day of such calendar month, (y) within seven (7) Business Days after each Semi-Monthly Reporting
Date at any time that either (i) the Borrowing Base Availability is less than or equal to $50,000,000 or (ii) the Acquisition
Facility Working Capital Sub-Limit, plus, the aggregate Working Capital Facility Commitments, plus, the Total Dollar
Working Capital Facility Uncommitted Tranche Portions, minus, the Total Working Capital Facility Extensions of Credit, minus,
the Total Acquisition Facility Working Capital Extensions of Credit is less than or equal to $50,000,000 or (iii) an Event
of Default shall have occurred and be continuing, a Borrowing Base Report dated as of the applicable Semi-Monthly Reporting Date,
and (z) at any time and from time to time, as the U.S. Borrower may determine in its sole, absolute discretion, a Borrowing
Base Report for the Loan Parties dated as of a date within the seven (7) Business Days preceding delivery thereof to the Administrative
Agent;

 

(d)              
as soon as available, but in any event not later than seven (7) Business Days after each Semi-Monthly Reporting Date,
a Marked-to-Market Report and Position Report, as of the applicable Semi-Monthly Reporting Date, in form reasonably acceptable
to the Administrative Agent, certified by the U.S. Borrower;

 

(e)              
if any such report described in clauses (b), (c) or (d) above is not reasonably satisfactory in form and substance
to the Administrative Agent, the U.S. Borrower shall promptly deliver such information supplementing such report as the Administrative
Agent may reasonably request;

 

(f)               
concurrently with the delivery of the financial statements referred to in Section 7.1, a written briefing on
any material overdue Account Receivables or any other material impairment in the value of the assets of the Loan Parties;

 

    	-185-	 

     

    

 

(g)              
upon request by the Administrative Agent, copies of any Employee Benefit Plan, Plan, Canadian Benefit Plan, or Canadian
Pension Plan and related documents, reports and correspondence;

 

(h)              
concurrently with the delivery of the financial statements referred to in Section 7.1(a) or 7.1(c), management’s
discussion and analysis with respect to such financial statements;

 

(i)               
promptly, and at least one (1) Business Day after the initial execution and delivery thereof by the parties thereto,
(i) notice of the entrance into any document or agreement governing any Indebtedness incurred by any Loan Party pursuant to
Section 8.2(h) having a principal amount equal to or in excess of $10,000,000 or that is a note (other than a promissory
note evidencing commercial Indebtedness), debenture, bond or other like obligation, together with a certificate of a Responsible
Person of the U.S. Borrower stating that such Indebtedness complies with the terms of Section 8.2(h), and (ii) true,
correct and complete copies of any material documents and agreements governing any Indebtedness incurred by any Loan Party pursuant
to Section 8.2(h) having a principal amount in excess of $50,000,000 or that is a note (other than a promissory note
evidencing commercial Indebtedness), debenture, bond or other like obligation; and

 

(j)               
promptly, such additional financial and other information regarding the Loan Parties as the Administrative Agent or any
Lender may from time to time reasonably request.

 

7.3              
Payment of Obligations. Pay, discharge or otherwise satisfy at or before maturity or before they become delinquent,
as the case may be, all its material obligations of whatever nature, except 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 its books.

 

7.4              
Conduct of Business and Maintenance of Existence. (i) Continue to engage in business of the same general type
as now conducted by it or as described in Section 8.13 and preserve, renew and keep in full force and effect its existence
and take all reasonable action to maintain all material rights, privileges and franchises necessary or desirable in the normal
conduct of its business except as otherwise permitted pursuant to Section 8.4 or where the failure to do so could not
reasonably be expected to have a Material Adverse Effect; (ii) comply with all Contractual Obligations and Requirements of
Law, except to the extent that failure to comply therewith could not, in the aggregate, be reasonably expected to have a Material
Adverse Effect and (iii) maintain in effect and enforce policies and procedures designed to ensure compliance by the Borrowers,
their respective Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable
Sanctions.

 

7.5              
Maintenance of Property; Insurance. (i) Keep substantially all its property useful and necessary in its business
in good working order and condition in all material respects (excepting ordinary wear and tear and the effect of events or circumstances
as to which such property is covered by insurance or as to which funds have been reserved); (ii) maintain with financially
sound and reputable insurance companies insurance on all its 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 area by companies engaged in the same or a similar business, which insurance shall name the Administrative Agent for
the ratable benefit of the Secured Parties as lender loss payee, in the case of property insurance, as an additional insured, in
the case of liability insurance, and as an additional insured and recipient of a mortgagee endorsement, in the case of environmental
liability insurance, as its interests may appear; (iii) furnish to the Administrative Agent (for distribution to the Lenders
through posting on Intralinks or other web site in use to distribute information to the Lenders), upon request, full information
as to the insurance carried, evidence of the underlying policy, the related cover note and all addenda thereto; and (iv) promptly
pay all insurance premiums.

 

    	-186-	 

     

    

 

7.6              
Inspection of Property; Books and Records; Discussions. At the sole expense of the Loan Parties: (i) keep books
of records and accounts in conformity with GAAP that present fairly the financial condition of the MLP and its consolidated Subsidiaries
covered thereby and (ii) within three (3) Business Days of the date agreed or requested therefor, permit representatives
of the Administrative Agent to (x) visit and inspect any of its properties and examine and make abstracts from any of its
books and records upon reasonable notice during normal business hours once during each twelve (12) month period following
the Restatement Effective Date (or more often at the Administrative Agent’s discretion exercised in good faith); provided
that, during the continuance of an Event of Default, such visits and inspections may occur at any time, and (y) discuss the
business, operations, properties and financial and other condition of the Loan Parties with officers and employees of the Loan
Parties and with their independent certified public accountants to the extent consistent with the national policies of such independent
certified public accountants, upon reasonable notice during normal business hours. Information obtained by the Administrative Agent
pursuant to this Section 7.6 shall be shared with a Lender upon the request of such Lender.

 

7.7              
Notices. Promptly give notice to the Administrative Agent (for distribution to the Lenders, including, if requested
by a Lender, through posting on Intralinks or other web site in use to distribute information to the Lenders) of:

 

(a)               
the occurrence of any Default or Event of Default;

 

(b)               
any (i) default or event of default under any Contractual Obligation of any Loan Party or (ii) litigation, investigation
or proceeding which may exist at any time between any Loan Party and any Governmental Authority, which in either case could reasonably
be expected to have a Material Adverse Effect;

 

(c)               
(i) any litigation or administrative or arbitration proceeding to which any Loan Party is a party in which the amount
involved is $5,000,000 or more and not covered by insurance, segregated cash reserves or bonds, or in which injunctive or similar
relief is sought or (ii) any Lien on any of the Collateral (other than Liens created hereby or Liens permitted on Collateral
pursuant to Section 8.3);

 

(d)               
the following events: (i) the occurrence of any Reportable Event with respect to any Single Employer Plan, a determination
that a plan is in “at risk” status within the meaning of Section 430 of the Code, a failure to make any required
contribution to a Plan when such contributions have become due, the creation of any Lien in favor of the PBGC or a Plan, a determination
that a Multiemployer Plan is in endangered, seriously endangered or critical status, in each case within the meaning of Section 432
of the Code, or any withdrawal from, or the termination or Insolvency of, any Multiemployer Plan in which any Borrower or any other
Loan Party is reasonably expected to have a liability in excess of $5,000,000 or (ii) the institution of proceedings or the
taking of any other action by the PBGC to terminate any Single Employer Plan;

 

    	-187-	 

     

    

 

(e)                
the Borrowing Base Availability becoming less than or equal to $50,000,000;

 

(f)                
the Acquisition Facility Working Capital Sub-Limit, plus, the aggregate Working Capital Facility Commitments, plus,
the Total Dollar Working Capital Facility Uncommitted Tranche Portions, minus, the Total Working Capital Facility Extensions
of Credit, minus, the Total Acquisition Facility Working Capital Extensions of Credit becoming less than or equal to $50,000,000;

 

(g)                
the sum of the Total Working Capital Facility Extensions of Credit and the Total Acquisition Facility Working Capital Extensions
of Credit exceeding the Aggregate Borrowing Base Amount;

 

(h)                
the Total Acquisition Facility Acquisition Extensions of Credit exceeding the Eligible Acquisition Asset Value;

 

(i)                 
[Reserved];

 

(j)                 
the occurrence of any event which could reasonably be expected to have a material adverse effect on the aggregate value
of the Collateral;

 

(k)                
a Material Adverse Effect;

 

(l)                 
any filing made by any Borrower or any other Loan Party with the SEC of any annual, regular, periodic or special report
or registration statement which any Borrower or any other Loan Party files with the SEC under Section 13 or 15(d) of the Securities
Exchange Act of 1934; and

 

(m)               
any change in the information provided in any Beneficial Ownership Certification delivered pursuant to Section 6.1(y)(ii)
or Section 7.13(a)(iii) that would result in a change to the list of beneficial owners identified in parts (c) or (d) of
such certification.

 

Each notice pursuant
to Section 7.7(a)-(k) shall be accompanied by a statement of a Responsible Person setting forth details of the occurrence
referred to therein and stating what action the Loan Parties propose to take with respect thereto.

 

7.8                
Environmental Laws. (a) (i) With respect to properties and assets located in Canada, obtain and maintain
and comply with all Environmental Permits required by applicable Environmental Laws in all material respects, (ii) direct
or obtain agreement, to the extent that any lease existing as of the Restatement Effective Date allows and in all cases pursuant
to terms that shall be contained in all leases renewed or entered into after the Restatement Effective Date, compliance by all
tenants and subtenants, if any, with, any and all applicable Environmental Laws, and direct all tenants and subtenants to obtain
and comply with and maintain, any and all Environmental Permits required by applicable Environmental Laws, except to the extent
that failure to do so could not be reasonably expected to have a Material Adverse Effect and (iii) without limiting the foregoing,
comply in all material respects with all material permits, registrations, licenses or similar authorizations or notifications required
to construct and operate bulk storage tanks and other bulk storage facilities at the Properties.

 

    	-188-	 

     

    

 

(b)                 
Conduct and complete all investigations, studies, sampling and testing, and all remedial, removal, compliance and other
actions, required under Environmental Laws, except to the extent the failure to do so could not reasonably be expected to have
a Material Adverse Effect, and promptly comply with all lawful orders and directives of all Governmental Authorities regarding
Environmental Laws, except to the extent that the same are being contested in good faith by appropriate proceedings and the pendency
of such proceedings could not be reasonably expected to have a Material Adverse Effect.

 

7.9                 
Periodic Audit of Borrowing Base Assets. Permit
the Administrative Agent or any other designee of the Administrative Agent to perform, or to have an independent inspector mutually
reasonably acceptable to the U.S. Borrower and the Required Lenders perform, a periodic due diligence inspection, test and review
of all of the assets of the Loan Parties that comprise each asset category set forth in the definitions of “U.S. Borrowing
Base” and “Kildair Borrowing Base” and the Borrowers’ internal controls, credit and risk practices and
trading book on a mutually convenient Business Day (a) within sixty (60) days following the Restatement Effective Date or such
later date if determined by the Administrative Agent in its sole discretion and (b) once during each twelve (12) month period
following the Restatement Effective Date (which, for the avoidance of doubt, may be in addition to such inspection, test and review
that may be conducted pursuant to clause (a)), in each case, the results of which shall be reasonably satisfactory to the Administrative
Agent in all material respects and provided by the Administrative Agent to each Lender; provided, however, the Administrative
Agent or any other designee of the Administrative Agent shall be entitled to perform additional due diligence inspections, tests
and reviews of such inventory and accounts receivable on Business Days at any time and/or frequency that the Administrative Agent
or the Required Lenders deem necessary at any time during the occurrence and continuance of an Event of Default; provided,
further, that (i) the reasonable and out of pocket cost and expense of all such due diligence inspections, tests and reviews
conducted pursuant to clause (a) or (b) and (ii) the cost and expense of all such due diligence inspections, tests and reviews
conducted during the occurrence and continuance of an Event of Default, in each case, shall be borne exclusively by the Borrowers.

 

7.10               
Risk Management Policy. (a)  Keep the Risk
Management Policy in full force and effect and conduct its business in compliance with the Risk Management Policy.

 

(b)                 
The U.S. Borrower shall provide at least ten (10) Business Days’ prior written notice to the Administrative Agent
(for distribution to the Lenders through posting on Intralinks) of any proposed amendment, modification, supplement or other change
to such Risk Management Policy, which proposed amendment, modification, supplement or other change must be approved by the Administrative
Agent (which may require the approval of the Supermajority Lenders at its reasonable discretion; provided, that (i) subject
to the following clause (ii), failure of a Lender to respond to any request by the Administrative Agent for approval within
ten (10) Business Days after receipt of such request shall be deemed an approval of such proposed amendment, modification, supplement
or other change and (ii) the Administrative Agent may, in its sole discretion, extend such ten (10) Business Day period if
the Administrative Agent determines that any such proposed amendment, modification, supplement or other change requires additional
review by any Lender) if it relates to modifications to stop loss position limits, or contract or commodity traded limits (including
outright position limits). The U.S. Borrower shall provide to the Administrative Agent (for distribution to the Lenders, including,
if requested by a Lender, through posting on Intralinks or other web site in use to distribute information to the Lenders), within
ten (10) days of the effectiveness of any such amendment, modification, supplement or other change, such revised Risk Management
Policy in its entirety.

 

    	-189-	 

     

    

 

7.11               
Collections of Accounts Receivable. (a) Pursuant
to and in accordance with Section 3(c) of the U.S. Security Agreement, Section 3(c) of the Canadian Security Agreement
or any similar provision in any Quebec Security Document, as applicable, (i) instruct each Account Debtor of an Account Receivable
to make all payments to the applicable Loan Party in respect of such Account Receivable to a Controlled Account and (ii) with
respect to any items sent directly to a Loan Party by an Account Debtor, hold such items in trust for the Secured Parties and promptly
deposit such items into a Controlled Account, (b) (i) instruct each Forward Contract Counterparty of a Forward Contract to make
all payments to the applicable Loan Party in respect of such Forward Contract to a Controlled Account and (ii) with respect
to any items sent directly to a Loan Party by a Forward Contract Counterparty, hold such items in trust for the Secured Parties
and promptly deposit such items into a Controlled Account and (c) otherwise comply with Section 3 of the U.S. Security
Agreement, Section 3 of the Canadian Security Agreement or any similar provision in any Quebec Security Document, as applicable.

 

7.12               
Taxes. Each Loan Party and each of its Subsidiaries shall timely file or cause to be filed all material Tax returns
required to be filed by it and shall timely pay all material Taxes due and payable by it or imposed with respect to any of its
property and all other material fees or other charges imposed on it or any of its property by any Governmental Authority (other
than any Taxes, fees or other charges, the amount or validity of which is 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 such Loan Party). Each Loan Party
and each of its Subsidiaries shall withhold all employee withholdings required to be withheld and shall make all employer contributions
required to be made by it pursuant to applicable law on account of the Canada and Quebec pension plans, employment insurance and
employee income taxes.

 

7.13                
Additional Collateral; Further Actions.

 

(a)                  
In the event that any such Loan Party acquires or forms any additional Subsidiary (other than an Exempt CFC or any Subsidiary
thereof or an Immaterial Subsidiary) (it being understood that the acquisition of any additional Subsidiary shall include, for
purposes of this clause (a), any existing Subsidiary that ceases to be an Exempt CFC (and any Subsidiary thereof that is not
an Exempt CFC or a Subsidiary of an Exempt CFC) and any existing Subsidiary that ceases to be an Immaterial Subsidiary), shall:

 

(i)                    
cause such additional Subsidiary to become a party to the applicable Security Documents and Guarantee;

 

    	-190-	 

     

    

 

(ii)                   
if such additional Subsidiary holds any Capital Stock of any Subsidiary, cause such additional Subsidiary to execute such
pledge agreements or addenda to the applicable Pledge Agreement, each in form and substance satisfactory to the Administrative
Agent, and take such other action as shall be necessary or advisable (including the filing of financing statements on Form UCC-1,
PPSA financing statements and financing change statements and filings under the Civil Code of Quebec and the delivery of pledge
agreements) in order to perfect the pledge of all of the Capital Stock of such Subsidiary in favor of the Administrative Agent
for the benefit of the Secured Parties; provided that in the case of a pledge of Capital Stock of any Subsidiary that is
an Exempt CFC, no more than 65% of the voting Capital Stock of such Subsidiary shall be pledged;

 

(iii)                  
cause such additional Subsidiary to deliver to the Administrative Agent and the Lenders (A) with respect to any such additional
Subsidiary that qualifies as a “legal entity customer” under the Beneficial Ownership Regulation and has not previously
delivered a Beneficial Ownership Certification, a Beneficial Ownership Certification and (B) all documentation and other information
required by bank regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations;
including the USA PATRIOT Act and CAML;

 

(iv)                   
if effective to perfect a Lien on such accounts in the applicable jurisdiction in respect of such accounts in any jurisdiction
in the United States or Canada or otherwise requested by the Administrative Agent in its sole discretion, cause an Account Control
Agreement for each Deposit Account (other than any Excluded Account), Securities Account and Commodity Account of such additional
Subsidiary to be executed and delivered by such Subsidiary and the bank, broker or other Person maintaining such Deposit Account,
Securities Account or Commodity Account to the extent required by the U.S. Security Agreement or the Canadian Security Documents,
as applicable;

 

(v)                    
no later than sixty (60) days (or such longer time as may be agreed by the Administrative Agent) following the request
of the Administrative Agent, solely with respect to any real property having a value equal to or in excess of $500,000, (A) cause
any such additional Subsidiary that owns a fee simple or material leasehold estate in real property located in the United States
or Canada to (i) prepare, execute and deliver a mortgage, deed of trust or deed of hypothec, as applicable, (if and to the
extent permissible under the terms of the lease) in substantially the same form as the Mortgage and Security Agreement together
with any Form UCC-1 financing statements and PPSA financing statements or filings under the Civil Code of Quebec required
by the Administrative Agent and (ii) for any real property located in the United States, deliver a “Life-of-Loan”
Federal Emergency Management Agency Standard Flood Hazard Determination and with respect to each such real property that is located
in a flood zone, flood acknowledgements executed by the U.S. Borrower and, with respect to any such real property and any Mortgaged
Property located in Canada in a flood plain, flood insurance and evidence of the payment of premiums then due and payable for such
flood insurance, in each case in form and substance reasonably satisfactory to the Administrative Agent and subject to the requirements
set forth in Section 6.1(z), (B) cause any such Subsidiary that owns a fee simple or material leasehold estate
in such real property located outside of the United States or Canada to prepare, execute and deliver all mortgage or security documentation
determined by the Administrative Agent to be sufficient to create and/or perfect a Lien in favor of the Administrative Agent on
such real property, and to take such other actions as the Administrative Agent shall request in order to create and/or perfect
a Lien in favor of the Administrative Agent on such real property of such Subsidiary and (C) cause such Subsidiary to deliver
a mortgage title insurance policy (only for such real property located in the United States or Canada), survey (only for such real
property located in the United States or Canada), zoning report and appraisal of the real property, in each case in form and substance
reasonably satisfactory to the Administrative Agent subject to the matters and in the form required by Sections 6.1(t)
and (u); and

 

    	-191-	 

     

    

 

(vi)                   
take any other action as shall be necessary or advisable (including the filing of financing statements on Form UCC-1
and PPSA financing statements and any other filing necessary to maintain the perfection of the security interest in the applicable
jurisdiction) to cause such Lien described in this Section 7.13(a) to be a Perfected First Lien on all right, title
and interest of such Collateral.

 

(b)                    
The Administrative Agent shall be entitled to receive legal opinions of one or more counsel to the Borrowers and such additional
Subsidiary addressing such matters as the Administrative Agent may reasonably request and as is customary opinion practice, including
the enforceability of each Security Document to which such additional Subsidiary becomes a party and the pledge of the Capital
Stock of such Subsidiary, and the creation, validity and perfection of the Liens so granted by such Subsidiary and the U.S. Borrower
and/or other Loan Parties to the Administrative Agent for the benefit of the Lenders.

 

(c)                    
(i) With respect to any fee simple or material leasehold estate in real property having a value equal to or in excess
of $500,000 of any of the Loan Parties located in the United States or Canada which were not Mortgaged Properties on the Restatement
Effective Date, including pipelines, identified by the Administrative Agent or with respect to any such property acquired by any
Loan Party after the Restatement Effective Date, the applicable Loan Party shall, no later than sixty (60) days (or such longer
time as may be agreed by the Administrative Agent) following the request of the Administrative Agent, prepare, execute and deliver
a mortgage, deed of trust or deed of hypothec, as applicable (if and to the extent permissible under the terms of the lease), in
substantially the same form as the Mortgage and Security Agreement (or Quebec Security Documents in the case of real property located
in the Province of Quebec) together with any Form UCC-1 financing statements and PPSA financing statements or filings under the
Civil Code of Quebec required by the Administrative Agent, and with respect to any fee simple or leasehold estate in real property
of any of the Loan Parties (other than an Exempt CFC or any Subsidiary thereof) located outside the United States and Canada, the
applicable Loan Party shall prepare, execute and deliver all mortgage or security documentation determined by the Administrative
Agent to be sufficient to create and/or perfect a Lien in favor of the Administrative Agent on such real property, and take such
other actions as the Administrative Agent shall request in order to create and/or perfect a Lien in favor of the Administrative
Agent on any Mortgaged Property of such Loan Party; and (ii) with respect to any Mortgaged Property having a value equal to
or in excess of $500,000 of any Loan Party (whether or not mortgaged on the Restatement Effective Date or thereafter), the applicable
Loan Party shall, no later than sixty (60) days (or such longer time as may be agreed by the Administrative Agent) following
the request of the Administrative Agent, cause such Loan Party to deliver a mortgagee’s title insurance policy (only for
a Mortgaged Property located in the United States or Canada), survey (only for a Mortgaged Property located in the United States
or Canada) and appraisal of such Mortgaged Property, in each case in form and substance reasonably satisfactory to the Administrative
Agent subject to the matters and in the form required by 6.1(t) and (u) hereof, (iii) no later than sixty (60)
days (or such longer time as may be agreed by the Administrative Agent) following the request of the Administrative Agent, the
U.S. Borrower shall deliver legal opinions of one or more counsel to the applicable Loan Party with respect to each Mortgage and
Security Agreement and each non-United States or non-Canadian mortgage and collateral document (in each case, covering real property
having a value equal to or in excess of $500,000), addressing such matters as the Administrative Agent may reasonably request and
is customary opinion practice, including the enforceability of such Security Documents, and the creation, validity and perfection
of the Liens so granted by the applicable Loan Party and (iv) with respect to any Mortgaged Property located in the United
States and having a value equal to or in excess of $500,000 of any Loan Party (whether or not mortgaged on the Restatement Effective
Date or thereafter), the applicable Loan Party shall deliver, as promptly as practicable (or such longer time as may be agreed
by the Administrative Agent) following the request of the Administrative Agent, a “Life-of-Loan” Federal Emergency
Management Agency Standard Flood Hazard Determination and if such Mortgaged Property is located in a flood zone, flood acknowledgements
executed by the U.S. Borrower, and with respect to any such property and any Mortgaged Property located in Canada, flood insurance
and evidence of the payment of premiums then due and payable for such flood insurance, in each case in form and substance reasonably
satisfactory to the Administrative Agent and subject to the requirements set forth in Section 6.1(z).

 

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(d)                  
No later than sixty (60) days (or such longer time as may be agreed by the Administrative Agent) following the request
of the Administrative Agent (which request shall not be made unless the Administrative Agent has a reasonable basis to make such
request with respect to one or more Mortgaged Properties), the Loan Parties shall promptly order and, upon completion, provide
the Administrative Agent with an environmental report as described under Section 6.1(x). The Administrative Agent may,
upon the receipt of a Phase I ESA and after consultation with the U.S. Borrower regarding the results of such Phase I
ESA and the recommendations therein, require the delivery of further environmental assessments or reports to the extent such further
assessments or reports are recommended in the Phase I ESA or the Administrative Agent has a reasonable basis to require such
further assessments or reports.

 

7.14                
Use of Proceeds. Use the entire amount of the proceeds of the Loans and the Letters of Credit as set forth in Section 5.21.

 

7.15                
Cash Management. Maintain all of the Pledged Accounts of the Loan Parties at a Cash Management Bank.

 

7.16                
New Business Valuations of Approved Acquisition
Assets. If at any time any Approved Acquisition Asset has been destroyed or damaged in any material respect or any other event
or condition has occurred that results in a material adverse change in the value of any Approved Acquisition Asset, (a) the
U.S. Borrower shall promptly notify the Administrative Agent thereof, and permit the Administrative Agent, in its sole discretion,
and at sole expense of the Borrowers and the other Loan Parties, to obtain a new Business Valuation of such Approved Acquisition
Asset and (b) without derogating from the U.S. Borrower’s obligations to provide notification pursuant to clause (a)
above, if the Administrative Agent otherwise becomes aware of any such destruction, damage, event or condition without notification
from the U.S. Borrower, the Administrative Agent shall be permitted, in its sole discretion, upon notice to and at the sole expense
of the Borrowers and the other Loan Parties, to obtain a new Business Valuation of such Approved Acquisition Asset, provided
that in the case of clause (a) or (b), a new Business Valuation shall not be required if the U.S. Borrower has agreed to remove
the affected Approved Acquisition Asset from the calculation of the Eligible Acquisition Asset Value.

 

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7.17         
Post-Closing Matters. (a)  Within sixty (60) days after the Restatement Effective Date (or such longer
time as may be agreed by the Administrative Agent), to the extent not satisfied on the Restatement Effective Date, (i) cause the
possessory Collateral set forth in Section 5(c) of the Successor Agent Agreement to be delivered to the Administrative Agent,
(ii) cause each of the documents set forth on Schedule 5.3 of the Successor Agent Agreement to be duly executed and delivered
to the Administrative Agent, (iii) cause each of the documents set forth in Section 6.1(a)(xix) and Section 6.1(p)
to be duly executed and delivered to the Administrative Agent, (iv) cause each of the insurance deliverables set forth in Section
6.1(s) to have been delivered to the Administrative Agent, (v) cause each of (A) the legal opinions that are permitted to
be delivered after the Restatement Effective Date under Sections 6.1(k)(iii) and (iv), (B) the appraisals and surveys
set forth in Section 6.1(t), (C) the title insurance policy deliverables set forth in Section 6.1(u), (D) the copies
of the recorded documents set forth in Section 6.1(w), (E) the environmental reports set forth in Section 6.1(x),
the flood determination deliverables set forth in Section 6.1(z) and (F) each Mortgage and Security Agreement or amendment
thereto set forth in Section 6.1(a)(xxiv), in each case, to be delivered to the Administrative Agent and (vi) take each
action set forth in Section 6.1(o) with respect to any Security set forth in this Section 7.17.

 

(b)            Within twenty (20) Business Days after the Restatement Effective Date (or such longer time as may be agreed by the Administrative
Agent), cause any Quebec Security Document that has been assigned to the Administrative Agent pursuant to Section 6.1(a)(ix)(A)
to be terminated (if so requested by the Administrative Agent).

 

7.18         
Canadian Pension Plans and Benefit Plans. (a)  For
each existing, or hereafter adopted, Canadian Pension Plan and Canadian Benefit Plan, in a timely fashion comply with and perform
in all material respects all of its obligations under and in respect of such Canadian Pension Plan or Canadian Benefit Plan, including
under any funding agreements and all applicable laws (including any fiduciary, funding, investment and administration obligations).
Within 45 days after the Restatement Effective Date (or such longer time as may be agreed by the Administrative Agent), (i)
and (ii) cause each of the documents set forth on Schedule 5.3 of the Successor Agent Agreement to be duly executed and delivered
to the Administrative Agent.

 

(b)           Remit, withhold or pay (and cause each of its Subsidiaries to remit, withhold or pay) all employer or employee payments,
contributions or premiums required to be remitted, withheld or paid to or in respect of each Canadian Pension Plan or Canadian
Benefit Plan, in each case in a timely fashion in compliance in all material respects with the terms thereof, any funding agreements
and all applicable laws.

 

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(c)            Deliver to the Administrative Agent (i) if requested by the Administrative Agent, copies of each annual and other return,
report or valuation with respect to each Canadian Pension Plan as filed with any applicable Governmental Authority; (ii) promptly
after receipt thereof, a copy of any material direction, order, notice, ruling or opinion that any Loan Party or any Subsidiary
of any Loan Party may receive from any applicable Governmental Authority with respect to any Canadian Pension Plan; (iii) notification
within 30 days of any increases having a cost to one or more of the Loan Parties and their Subsidiaries in excess of $500,000
per annum in the aggregate, in the benefits of any existing Canadian Pension Plan or Canadian Benefit Plan, or the establishment
of any new Canadian Pension Plan or Canadian Benefit Plan, or the commencement of contributions to any such plan to which any Loan
Party was not previously contributing; and (iv) notification within 30 days of any voluntary or involuntary termination
of, or participation in, a Canadian Pension Plan or a Canadian Benefit Plan.

 

SECTION
8        NEGATIVE
COVENANTS

 

Each of the Borrowers
hereby jointly and severally agrees that, commencing on the Restatement Effective Date and continuing so long as any of the Commitments
or Dollar Working Capital Facility Uncommitted Tranche Portions remain in effect, any Letter of Credit remains outstanding that
has not been Cash Collateralized or any amount is owing to any Lender or the Administrative Agent hereunder or under any other
Loan Document (except contingent indemnification and expense reimbursement obligations for which no claim has been made), no Loan
Party shall, directly or indirectly:

 

8.1           Financial Condition Covenants.

 

(a)            Minimum Consolidated Net Working Capital. Permit, as of the last day of any calendar month, the Consolidated Net
Working Capital to be less than the Minimum Consolidated Net Working Capital Amount applicable as of such day in accordance with
the definitions thereof.

 

(b)           Minimum Consolidated Fixed Charge Coverage Ratio. Permit, as of the last day of any fiscal quarter (commencing with
the fiscal quarter ending March 31, 2020), for the twelve (12) month period ending on such day, the Consolidated Fixed
Charge Coverage Ratio to be less than the Minimum Consolidated Fixed Charge Coverage Ratio.

 

(c)            Maximum Consolidated Total Leverage Ratio. Permit, as of the last day of any fiscal quarter (commencing with the
fiscal quarter ending March 31, 2020), for the twelve (12) month period ending on such day, the Consolidated Total Leverage
Ratio to exceed the Maximum Consolidated Total Leverage Ratio applicable as of such day in accordance with the definition thereof.

 

8.2           Limitation on Indebtedness. Create, incur, assume or suffer to exist any Indebtedness, or permit any preferred stock
to be issued or outstanding, except:

 

(a)            Indebtedness of such Loan Party under this Agreement and the other Loan Documents;

 

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(b)           (i) any Intercompany Subordinated Indebtedness and (ii) any Axel Johnson Subordinated Indebtedness;

 

(c)            Indebtedness in respect of purchase money security interests, Financing Leases or Synthetic Leases; provided that
the aggregate amount of Indebtedness incurred pursuant to this Section 8.2(c) in any Fiscal Year shall not exceed $50,000,000;

 

(d)            Indebtedness outstanding on the Restatement Effective Date and listed on Schedule 8.2, or any refinancings,
refundings, renewals or extensions thereof (such refinanced, refunded, renewed or extended Indebtedness, “Permitted Refinancing
Indebtedness”); provided that (i) the stated amount of such Indebtedness is not increased at the time of
such refinancing, refunding, renewal or extension (except to the extent of non-cash interest), (ii) such refinancing, refunding,
renewal or extended Indebtedness shall (A) not have a stated final maturity prior to the final maturity date of the Indebtedness
being refinanced, refunded, renewed or extended and (B) have an average life to maturity equal to or greater than such Indebtedness,
(iii) the terms of such refinancing, refunding, renewal or extension, taken as a whole, shall not be more restrictive than
the terms of such Indebtedness, (iv) any guarantee entered into in connection with such refinancing, refunding, renewal or
extension that is not a refinancing of an existing guarantee of such Indebtedness shall not be permitted under this Section 8.2(d)
(except that a Loan Party may guarantee such refinanced Indebtedness) and (v) if the Indebtedness being refinanced, refunded,
renewed or extended is subordinated, such Permitted Refinancing Indebtedness shall be subordinated to at least the same extent,
and on terms at least as favorable to the Lenders, as the Indebtedness being refinanced, refunded, renewed or extended;

 

(e)            Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar instrument
drawn against insufficient funds in the ordinary course of business or other cash management services in the ordinary course of
business; provided that such Indebtedness (other than credit or purchase cards) is extinguished within one (1) Business
Day after notification to any Loan Party of its incurrence;

 

(f)            Indebtedness under one or more Contango Facilities in an amount outstanding at any time not to exceed $125,000,000 in the
aggregate;

 

(g)           limited recourse Indebtedness of any Borrower or any other Loan Party to any Governmental Authority in respect of a capital
project financing provided by such Governmental Authority, but only so long as (i) such funding accounts for 100% of the capital
costs of such project in excess of any Investment by such Borrower or such Loan Party, (ii) the recourse to such Borrower
or such Loan Party, as applicable, with respect to such Indebtedness is limited to its interest in the project financed by such
Indebtedness and proceeds from the operation of such project, (iii) the aggregate principal amount of all such Indebtedness
at any time outstanding shall not exceed $20,000,000 and (iv) the terms of such Indebtedness are reasonably satisfactory to
the Administrative Agent; and

 

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(h)           additional unsecured Indebtedness of the Loan Parties in an aggregate principal amount (for all Loan Parties) not to exceed
$500,000,000 at any one time outstanding; provided, that (i) the terms of such unsecured Indebtedness shall not be
more restrictive, in the aggregate to the Loan Parties, than the terms, conditions, covenants and defaults contained in the Loan
Documents, (ii) the terms of such unsecured Indebtedness shall permit Obligations under the Loan Documents in a principal
amount at least equal to 115% of the combined aggregate amount of the Working Capital Facility Commitments in effect as of the
date the documentation for any such unsecured Indebtedness is entered into, the Dollar Working Capital Facility Uncommitted Tranche
Portions in effect as of the date the documentation for any such unsecured Indebtedness is entered into and the Acquisition Facility
Commitments in effect as of the date the documentation for any such unsecured Indebtedness is entered into without meeting any
financial ratio test (including any incurrence test) contained in the documentation for such unsecured Indebtedness, (iii) the
Weighted Average Life to Maturity of such unsecured Indebtedness shall be at least ninety-one (91) days after the Maturity Date,
(iv) the maturity date of such unsecured Indebtedness shall be at least six (6) months after the Maturity Date, (v) such
unsecured Indebtedness shall not be guaranteed by any Subsidiary of the MLP that is not a Loan Party; and (vi) no Default
or Event of Default shall have occurred and be continuing as of the date of incurrence or refinancing of such unsecured Indebtedness
(or would occur as a result thereof) and as of such date, the Loan Parties would be in compliance with the covenants set forth
in Section 8.1 calculated on a Pro Forma Basis as of such date assuming the incurrence of such unsecured Indebtedness.

 

Notwithstanding the foregoing,
in no event shall any Indebtedness of (i) any Loan Party, on the one hand, owing to (ii) the MLP or any Subsidiary or
any Affiliate of the MLP, on the other hand, be permitted hereunder other than pursuant to Section 8.2(b).

 

8.3           Limitation on Liens. Create, incur, assume or suffer
to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, except for:

 

(a)            Liens for taxes, assessments or governmental charges or levies not yet due and payable or which are being contested in good
faith by appropriate proceedings; provided that adequate reserves with respect thereto are maintained on the books of such
Loan Party, in conformity with GAAP;

 

(b)           carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s, landlord’s Liens,
or other similar Liens arising in the ordinary course of business which are not overdue for a period of more than 60 days or which
are being contested in good faith by appropriate proceedings or which have been bonded over or otherwise adequately secured against;

 

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

 

(d)           deposits or bonds to secure (i) the performance of bids, trade contracts (other than for borrowed money), leases, statutory
obligations, surety and appeal bonds and (ii) indemnities, performance and similar bonds and other obligations of a like nature
incurred in the ordinary course of business;

(e)            Permitted
Cash Management Liens;

 

(f)            easements, rights-of-way, restrictions and other similar title exceptions and encumbrances, landlords’ and lessors’
Liens on rented premises and restrictions on transfers of leases, each incurred in the ordinary course of business which, in the
aggregate, are not substantial in amount, secure obligations that do not constitute Indebtedness, and which 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 the Loan Parties;

 

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(g)           Liens arising from precautionary or unauthorized UCC or PPSA financing statements or applications for registration of a
hypothec under the Register of Personal and Movable Real Rights (Quebec) under the Civil Code of Quebec;

 

(h)           Liens created pursuant to the Security Documents and the other Loan Documents;

 

(i)             First Purchaser Liens;

 

(j)             netting and other offset rights granted by any Loan Party to counterparties under Commodity Contracts and Financial Hedging
Agreements on or with respect to payment and other obligations owed by such Loan Party to such counterparties;

 

(k)            Liens in existence on the Restatement Effective Date that are listed, and the property subject thereto described, on Schedule 8.3;

 

(l)             Liens on cash and short-term investments deposited as collateral by a Loan Party under any Commodity Contract or Financial
Hedging Agreement with the counterparty (or counterparties) thereto;

 

(m)           Liens securing judgments for the payment of money not constituting an Event of Default under Section 9.1(i)
or securing appeal or other surety bonds related to such judgments;

 

(n)           Liens of an account bank on currency, Cash Equivalents, commodities or Commodities Contracts of Wintergreen or Sprague Resources
Canada, deposited in, or credited to, an account with such account bank; provided that such Liens arise by operation of
law;

 

(o)           Liens securing Indebtedness of the Loan Parties permitted by Section 8.2(f); provided that such Liens
do not at any time encumber any property other than the inventory, forward contracts and receivables related to the Cash and Carry
Transactions financed by such Indebtedness;

 

(p)           Liens
securing Indebtedness of the Loan Parties permitted by Section 8.2(g) on the property being financed by such Indebtedness
and proceeds of such property;

 

(q)           restrictions under federal, provincial, territorial and state securities laws on the transfer of securities;

 

(r)            Liens constituting purchase money security interests (including mortgages, conditional sales, Financing Leases and any other
title retention or deferred purchase devices) in real property, interests in leases or personal property existing or created on
the date on which such property is acquired; provided, however, that (i) each such security interest shall attach
solely to the particular item of property so acquired, and the principal amount of Indebtedness secured thereby shall not exceed
the cost (including all such Indebtedness secured thereby, whether or not assumed) of such item of property; and (ii) the
Indebtedness secured thereby was incurred, and permitted, pursuant to Section 8.2(c);

 

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(s)            Liens securing the Maine Dock Liability Obligations in connection with the incurrence of such liability; provided,
however, that such Lien shall attach solely to the property acquired;

 

(t)            Liens on assets not included in the U.S. Borrowing Base or the Kildair Borrowing Base securing obligations of the Loan Parties
in an amount not to exceed $2,500,000 in the aggregate at any one time outstanding;

 

(u)           Liens granted to a Subject Utility on the Subject Natural Gas Receivables purchased by such Subject Utility (and not other
assets of a Loan Party) pursuant to a Natural Gas Transaction;

 

(v)           minor
defects or irregularities in title that do not interfere with the Loan Parties’ ability to conduct their businesses as currently
conducted or to utilize the relevant properties for their intended purposes and except where the failure to have unfettered title
could reasonably be expected to have a Material Adverse Effect; and

 

(w)           the reservations, limitations, provisos and conditions, if any, expressed in any original grant from the Crown of any Canadian
real property or any interest therein, provided they do not, in the aggregate, in any case materially detract from the value of
the property subject thereto or materially interfere with the ordinary conduct of the business of the Loan Parties.

 

Notwithstanding anything
to the contrary contained in this Agreement or any Security Document (including any provision for, reference to, or acknowledgement
of, any Lien or Permitted Borrowing Base Lien or Permitted Cash Management Lien), nothing herein and no approval by the Administrative
Agent or Lenders of any Lien, Permitted Borrowing Base Lien or Permitted Cash Management Lien (whether such approval is oral or
in writing) shall be construed as or deemed to constitute a subordination by the Administrative Agent or the Lenders of any security
interest or other right, interest or Lien in or to the Collateral or any part thereof in favor of any Lien, Permitted Borrowing
Base Lien or Permitted Cash Management Lien or any holder of any Lien, Permitted Borrowing Base Lien or Permitted Cash Management
Lien.

 

8.4            Limitation on Fundamental Changes. Enter into any reorganization, statutory arrangement, merger, consolidation or
amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation or dissolution), or convey, sell, lease, assign,
transfer or otherwise dispose of, all or substantially all of its property, business or assets of such Loan Party, except for the
following, in each case so long as, at the time thereof and immediately after giving effect thereto, no Default or Event of Default
shall have occurred and be continuing:

 

(a)            (w) the reorganization or statutory arrangement (not involving any compromise of claims hereunder), merger, consolidation,
amalgamation or liquidation of any Subsidiary (other than the Canadian Borrower) into the U.S. Borrower in a transaction in which
the U.S. Borrower is the surviving or resulting entity, (x) the reorganization or statutory arrangement (not involving any compromise
of claims hereunder), merger, consolidation, amalgamation or liquidation of any Subsidiary of the Canadian Borrower into the Canadian
Borrower in a transaction in which the Canadian Borrower is the surviving or resulting entity, (y) the reorganization or statutory
arrangement (not involving any compromise of claims hereunder), merger, consolidation, amalgamation or liquidation of any Subsidiary
(other than any Borrower) into the MLP in a transaction in which the MLP is the surviving or resulting entity and (z) a Specified
Transaction;

 

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(b)           the reorganization or statutory arrangement (not involving any compromise of claims hereunder), merger, consolidation, amalgamation
or liquidation of any Wholly-Owned Subsidiary (but excluding any Borrower) into or with a Wholly-Owned Subsidiary or the reorganization
or statutory arrangement (not involving any compromise of claims hereunder), merger, consolidation, amalgamation or liquidation
of any Person into a Wholly-Owned Subsidiary (other than any Borrower) or pursuant to which such Person will become a Wholly-Owned
Subsidiary (other than any Borrower) in a transaction in which the resulting or surviving entity is a Wholly-Owned Subsidiary (it
being understood that if any Person involved is a Loan Party, the surviving entity shall be a Loan Party);

 

(c)            the conveyance, sale, lease, assignment, transfer or disposal of all, or substantially all, of the property, business or
assets of a Loan Party to another Loan Party;

 

(d)           sales or other Dispositions permitted under Section 8.6 (other than Section 8.6(h));

 

(e)            any inactive Subsidiary (other than the Canadian Borrower) may be liquidated; and

 

(f)            the Approved Organizational Changes as contemplated in Section 11.30 hereof.

 

8.5           Restricted
Payments. Declare or pay any dividend (other than distributions payable solely in common Capital Stock of the MLP) 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 shares of any class of Capital Stock of any Loan Party or any warrants or options to purchase
any such Stock, 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 any Loan Party (such declarations, payments, setting apart, purchases, redemptions,
defeasances, retirements, acquisitions and distributions, being herein called “Restricted Payments”); provided
that:

 

(a)            the MLP at any time may make Restricted Payments payable solely in common Capital Stock of the MLP;

 

(b)           any Loan Party that is a Subsidiary of the MLP may make Restricted Payments to the MLP or any other Loan Party that owns
Capital Stock of such Loan Party;

 

(c)            the MLP may make Restricted Payments (i) with the proceeds received by the MLP from the substantially concurrent issue of
new common Capital Stock of the MLP or (ii) with the proceeds received by the MLP from the substantially concurrent consummation
of a Specified Transaction;

 

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(d)           the MLP may (i) redeem, repurchase or otherwise acquire or retire for value its Capital Stock or (ii) pay, settle,
exercise, redeem, repurchase, or exchange any other award constituting a Restricted Payment, in the case of clauses (i) and
(ii), that is held or received by current or former officers, directors or employees (or their estates or beneficiaries under their
estates or their immediate family members), of the General Partner (solely to the extent such Restricted Payment is made prior
to the effectiveness of the Approved Organizational Changes) and the MLP or any of its Subsidiaries pursuant to any equity subscription
agreement, equity plan, equity option agreement, unitholders’ agreement, incentive plan or similar agreement under which
such Capital Stock was issued or such award made; provided that the aggregate cash consideration paid therefor in any calendar
year (commencing with the 2020 calendar year) does not exceed an aggregate amount of $5,500,000 (with unused amounts in any calendar
year being permitted to be carried over for the two succeeding calendar years);

 

(e)            the following shall be permitted: (i) any repurchase of Capital Stock deemed to occur upon the exercise of units, options
or other rights to the extent such Capital Stock represents a portion of the exercise price of those units, options or other rights;
(ii) any repurchase or other acquisition of Capital Stock made in lieu of withholding taxes in connection with any exercise
or exchange of equity options, warrants, incentives or other rights to acquire Capital Stock; and (iii) any payment of cash
made in lieu of the issuance of fractional units upon the exercise of units, options, or other rights or the conversion or exchange
of Capital Stock of any such Person; provided that the aggregate cash consideration paid pursuant to this clause (e)
in any calendar year (commencing with the 2020 calendar year) does not exceed an aggregate amount of $2,500,000; and

 

(f)            the MLP may make Restricted Payments (including quarterly distributions contemplated under the MLP Operational Document)
if at the time of such Restricted Payment and after giving effect thereto, no Event of Default has occurred and is continuing and
the Loan Parties are in compliance with the covenants set forth in Section 8.1 calculated on a Pro Forma Basis after
giving effect to such Restricted Payment.

 

8.6           Limitation on Sale of Assets. Convey, sell,
lease, assign, transfer or otherwise dispose of any of its property, business or assets (including Accounts Receivable and leasehold
interests), whether now owned or hereafter acquired, or, in the case of any Subsidiary, issue or sell or permit the issuance or
sale of any shares of such Subsidiary’s Capital Stock to any Person other than any Loan Party, except:

 

(a)            the sale or other disposition of obsolete or worn out property in the ordinary course of business;

 

(b)           the
sale or other disposition of any property in the ordinary course of business;

 

(c)            the sale of Eligible Commodities and Eligible RINs in the ordinary course of business;

 

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(d)           sales or other dispositions of Investments permitted under Section 8.8 in the ordinary course of business;

 

(e)            leases or subleases of real property not material to the business of any Loan Party entered into in the ordinary course
of business;

 

(f)            the sale or discount without recourse of accounts receivable arising in the ordinary course of business in connection with
the compromise or collection thereof;

 

(g)           any Disposition of Acquisition Assets so long as at the time of and after giving effect to such Disposition, Total Acquisition
Facility Acquisition Extensions of Credit (after giving effect to any repayment of the Acquisition Facility occurring in connection
with such Disposition) do not exceed the Eligible Acquisition Asset Value, and no Default or Event of Default shall have occurred
and be continuing;

 

(h)           sales or other Dispositions permitted under Section 8.4 (other than Section 8.4(d));

 

(i)             any Disposition by a Loan Party to another Loan Party;

 

(j)             any Disposition listed on Schedule 8.6;

 

(k)            any Restricted Payment permitted by Section 8.5 and any Investment permitted by Section 8.8;

 

(l)             any of the following: (i) the termination or unwinding of any Financial Hedging Agreement or Commodity OTC Agreement;
(ii) the surrender, modification, release or waiver of contract rights; or (iii) the settlement, release, modification,
waiver or surrender of contract, tort or other claims of any kind; and

 

(m)           Dispositions by a Loan Party of Subject Natural Gas Receivables to a Subject Utility pursuant to a Natural Gas Transaction.

 

8.7           Limitation on Capital Expenditures. Make or commit to make (by way of the acquisition of securities of a Person or
otherwise) Capital Expenditures other than: (i) Capital Expenditures made with respect to the maintenance or improvement of
assets or property then owned by any Loan Party not to exceed $40,000,000 in the aggregate in any Fiscal Year; and (ii) Capital
Expenditures made with respect to any acquisition of any additional assets or property in a single transaction not to exceed $75,000,000,
provided that the aggregate amount of such Capital Expenditures for all such acquisitions of additional assets or property
in any Fiscal Year shall not exceed $175,000,000.

 

8.8           Limitation
on Investments, Loans and Advances. Make any Investment in any Person, except:

 

(a)            extensions
of trade credit in the ordinary course of business (including, for the avoidance of doubt, ordinary course extensions of credit
under Commodity Contracts and Financial Hedging Agreements made in accordance with the Risk Management Policy);

 

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(b)           Investments
in Cash Equivalents;

 

(c)            Investments by any Loan Party in any Loan Party;

 

(d)           Investments consisting of cash and Cash Equivalents posted as collateral to satisfy margin requirements with counterparties
of Commodity Contracts or Financial Hedging Agreements of any Loan Party;

 

(e)            Investments
(including debt obligations and equity securities) received in connection with the bankruptcy, insolvency, arrangement or reorganization
of suppliers and customers and in settlement of delinquent obligations of, and other disputes with, customers and suppliers arising
in the ordinary course of business;

 

(f)            Investments in existence on the Restatement Effective Date and listed on Schedule 8.8, together with any renewals
and extensions thereof, so long as the principal amount of such renewal or extension does not exceed the original principal amount
of such Investment;

 

(g)           payroll, travel and other loans or advances to, or Guarantee Obligations issued to support the obligations of, current or
former officers, directors, and employees of the General Partner (solely to the extent such loan or advance is made, or such Guarantee
Obligation is issued, prior to the effectiveness of the Approved Organizational Changes), the MLP or any Subsidiary, in each case
in the ordinary course of business in an aggregate principal amount not to exceed $5,000,000 at any one time outstanding;

 

(h)           any Investment resulting from pledges and deposits permitted by Section 8.3(c), (d), (l) and (m);

 

(i)             any Investment using the proceeds of any issuance of common Capital Stock of the MLP; and

 

(j)             any other Investment if at the time of such Investment and after giving effect thereto, no Event of Default has occurred
and is continuing and the Loan Parties are in compliance with the covenants set forth in Section 8.1 calculated on
a Pro Forma Basis.

 

8.9           Limitation on Payments or Modifications of Junior Debt Instruments. (a) Except as provided in clause (b)
of this Section 8.9, amend, modify or change, or consent or agree to any material amendment, modification or change
to any of the terms of any Intercompany Subordinated Indebtedness, any Axel Johnson Subordinated Indebtedness, or any other Indebtedness
of a Loan Party that is subordinated in right of payment to the Obligations, is secured on a junior Lien basis on the Collateral
or is unsecured (the foregoing Indebtedness, “Junior Indebtedness”) (other than any such amendment, modification
or change which would extend the maturity or reduce the amount of any payment of principal thereof or which would reduce the rate,
increase the non-cash portion of the rate or extend the date for payment of interest thereon or that would relax or waive any covenant
therein or (in the case of any Intercompany Subordinated Indebtedness or Axel Johnson Subordinated Indebtedness) which would modify
any term relating to such Indebtedness not addressed in Exhibit H-1 or Exhibit H-2, as applicable, that
could not reasonably be expected to be adverse to the interests of the Lenders), (b) amend the subordination provisions of
any Intercompany Subordinated Indebtedness, Axel Johnson Subordinated Indebtedness or any other Junior Indebtedness that is subordinated
in right of payment to the Obligations without the consent of the Required Lenders, (c) make any voluntary payment, prepayment,
repurchase or redemption of, or otherwise optionally or voluntarily defease or segregate funds with respect to, any Junior Indebtedness,
provided that such payments shall be permitted (subject to clause (d) of this Section 8.9) so long
as no Default or Event of Default has occurred and is continuing and the Loan Parties are in compliance with the covenants set
forth in Section 8.1 calculated on a Pro Forma Basis or (d) make any payment on any Junior Indebtedness in violation
of any subordination provisions applicable thereto.

 

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8.10         
Limitation on Transactions with Affiliates.
Engage in any transaction with any Affiliate or Subsidiary unless such transaction is (i) otherwise permitted under this Agreement
and (ii) on terms no less favorable in all material respects to such Loan Party than it would obtain in a comparable arm’s-length
transaction with a Person which is not an Affiliate or Subsidiary; provided, however, that this Section 8.10
shall not apply to:

 

(a)            any payment or other transaction listed on Schedule 8.10 (or any renewal thereof that is not materially adverse
to the Lenders);

 

(b)           any transaction in respect of which such Loan Party delivers to the Administrative Agent a letter addressed to the board
of directors of such Loan Party from an accounting, appraisal or investment banking firm, in each case of nationally recognized
standing that is in the good faith determination of the MLP qualified to render such letter, which letter states that (i) such
transaction is on terms no less favorable in all material respects to such Loan Party than it would obtain in a comparable arm’s-length
transaction with a Person which is not an Affiliate or Subsidiary or (ii) such transaction is fair, when taken as a whole, to such
Loan Party from a financial point of view;

 

(c)            any
payment or transaction by one Loan Party with one or more other Loan Parties;

 

(d)           any Restricted Payment that is permitted to be made pursuant to Section 8.5;

 

(e)            [reserved];

 

(f)            any issuance of common Capital Stock of the MLP; or

 

(g)           any Axel Johnson Subordinated Indebtedness and any payment with respect thereto permitted hereunder.

 

8.11         
Accounting Changes. Make any significant change in its accounting treatment or reporting practices, except as required
by GAAP, or change its Fiscal Year without the consent of the Required Lenders (such consent not to be unreasonably withheld, conditioned
or delayed). At the end of any calendar year during which any such change has occurred, the affected Loan Party shall prepare and
deliver to the Administrative Agent (for distribution to the Lenders through posting on Intralinks or other web site in use to
distribute information to the Lenders) an explanatory statement, in form and substance reasonably satisfactory to the Administrative
Agent, reconciling the previous treatment or practice with the new treatment or practice.

 

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8.12         
Limitation on Negative Pledge Clauses. Enter into, or permit to exist, with any Person any agreement which effectively
prohibits or limits the ability of a Loan Party to create, incur, assume or suffer to exist any Lien upon or otherwise transfer
any interest in any of its property, assets or revenues as Collateral, whether now owned or hereafter acquired, other than:

 

(a)            this
Agreement;

 

(b)           the Loan Documents;

 

(c)            agreements evidencing Indebtedness permitted to be incurred under Section 8.2(c) and (g), any industrial
revenue bonds, purchase money security interests or Financing Leases permitted by this Agreement, and agreements relating to the
Maine Dock Liability Obligations (in which cases, any prohibition or limitation shall only be effective against the assets financed
thereby);

 

(d)           leases, contracts and agreements containing restrictions on assignment entered into in the ordinary course of business;

 

(e)            licensing agreements or management agreements with customary provisions restricting assignment, entered into in the ordinary
course of business;

 

(f)             joint venture agreements containing customary and standard provisions regarding ownership and distribution of the assets
or equity interests of such joint venture;

 

(g)           agreements that neither restrict the Administrative Agent’s or any Secured Party’s ability to obtain first priority
liens on Collateral included in the U.S. Borrowing Base or the Kildair Borrowing Base or in the calculation of Eligible Acquisition
Asset Value nor restrict in any material respect the Administrative Agent’s or any Secured Party’s ability to exercise
the remedies available to them under applicable Law and the Security Documents, subject to Liens permitted hereunder; provided
that in no event shall such agreements restrict the payment of the Loans and other Obligations;

 

(h)           agreements
entered into by a Loan Party with a third party customer or supplier of such Loan Party in the ordinary course of business with
respect to a transaction that places restrictions on a portion of the cash of such Loan Party in an amount reasonably related
to the amount of such transaction on terms consistent with the past practice of such Loan Party;

 

(i)             Materials Handling Contracts and other agreements entered into in the ordinary course of business with commodity storage,
transportation and/or processing facilities that prohibit Liens on the commodities that are the subject thereof and which shall
not be included in the U.S. Borrowing Base or the Kildair Borrowing Base;

 

(j)             Commodity
Contracts and Financial Hedging Agreements not included in the U.S. Borrowing Base or the Kildair Borrowing Base and containing
restrictions on the assignment thereof; provided that, for the avoidance of doubt, to the extent any such prohibition,
restriction or limitation is ineffective as a matter of law, the account receivable deriving from or the proceeds of such contract
or agreement may be included in the U.S. Borrowing Base or the Kildair Borrowing Base;

 

    	-205-	 

     

    

 

(k)            agreements purporting to prohibit the existence of any Liens upon, or transferring of any interest in, any Excluded Asset
(as such term is defined in the U.S. Security Agreement or the Canadian Security Agreement, as applicable); provided that
such prohibition is entered into in the ordinary course and not in contemplation of such asset becoming an Excluded Asset (as such
term is defined in the U.S. Security Agreement or the Canadian Security Agreement, as applicable); and

 

(l)             agreements with respect to assets not included in the U.S. Borrowing Base or the Kildair Borrowing Base, the aggregate value
of such assets at any one time outstanding not to exceed $7,500,000.

 

8.13         
Limitation on Lines of Business. Enter into any business except for those lines of business in which the Loan Parties
are engaged on the Restatement Effective Date, and any activities reasonably related, complementary or incidental thereto.

 

8.14         
Governing Documents. Except for the Approved Organizational Changes, amend its Governing Documents in any manner
that could reasonably be expected to be materially adverse to the interests of the Lenders and the Administrative Agent without
the prior written consent of the Required Lenders, which shall not be unreasonably withheld, conditioned or delayed.

 

8.15         
Limitations on 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 U.S. Borrower to (a) make Restricted Payments
in respect of any Capital Stock of such Subsidiary held by, or pay any Indebtedness owed to, the U.S. Borrower or any other Subsidiary
of the U.S. Borrower or (b) make loans or advances to, or other Investments in, the U.S. Borrower or any other Subsidiary
of the U.S. Borrower, except for such encumbrances or restrictions existing under or by reason of (i) any restrictions existing
under this Agreement, (ii) any restrictions existing under the other Loan Documents and (iii) 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 Capital Stock or assets of such Subsidiary.

 

8.16         
Canadian Pension Plan. Except with the written consent of the Required Lenders: (i) establish, maintain, administer,
sponsor, contribute to, participate in or assume or incur any liability in respect of any new defined benefit Canadian Pension
Plan, or acquire an interest in any Person if such Person sponsors, administers, contributes to, participates in or has any liability
in respect of, any defined benefit Canadian Pension Plan; (ii) permit its Canadian unfunded pension fund and other employee
benefit plan obligations and liabilities to remain unfunded other than in accordance with applicable law; or (iii) terminate
or wind-up any defined benefit Canadian Pension Plan.

 

8.17         
Use of Proceeds. Request any Loan or Letter of Credit, and the Borrowers shall not use, and each shall procure that
its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of any Loan
or Letter of Credit (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of
money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding,
financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country,
or (C) in any manner that would result in the violation of any Sanctions applicable to any party hereto. Notwithstanding the
foregoing, nothing in this Agreement shall be interpreted to contravene, or require any notification to the Attorney General of
Canada under, the Foreign Extraterritorial Measures (United States) Order, 1992, by any Borrower or any of their respective Subsidiaries
located in Canada.

 

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8.18         
Loan Parties. Permit any Loan Party to become an Exempt CFC.

 

 SECTION 9        EVENTS OF DEFAULT

 

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

 

(a)            (i) Any
Borrower shall fail to pay any principal of any Loan or Reimbursement Obligation when due in accordance with the terms thereof
or hereof, or (ii) any Loan Party shall fail to pay any interest on any Loan or Reimbursement Obligation, or any other amount
payable hereunder or under any of the other Loan Documents, when such interest or other amount becomes due in accordance with
the terms thereof or hereof, and in the case of this clause (ii), the same shall remain unremedied for a period of three (3)
Business Days; or

 

(b)           Any
representation or warranty made or deemed made by any Loan Party herein or in any other Loan Document or which is identified as
such and 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 false or misleading in any material respect on or
as of the date made or deemed made; or

 

(c)           Any Loan Party shall (i) default in the observance or performance of any covenant contained in any of 7.1(a)
(annual financial statements), (c) (monthly financial statements), (f) (annual Reconciliation Summary) and (g) (monthly
Reconciliation Summary), 7.2 (other than 7.2(e), (g) and (i)), 7.4, 7.6, 7.7(a),
(b) or (e)-(h) or 8 of the Agreement, Sections 5(a), (d), (g), (h), (i), (j), (n)(i), (n)(iii),
(q) or (t) of the U.S. Security Agreement or Sections 5(a), (d), (g), (h), (i), (j), (m)(i), (m)(iii), (o) or (s) of the Canadian
Security Agreement or (ii) default in the observance or performance, in any material respect, of any covenant contained in
Section 5(q) of the U.S. Security Agreement or Section 5(p) of the Canadian Security Agreement; or

 

(d)           Any Loan Party shall default in the observance or performance of any covenant contained in (x) Section 7.10
and such default shall remain unremedied for a period of four (4) Business Days or (y) Section 7.17 and such default
shall remain unremedied for a period of three (3) Business Days; or

(e)            Any
Loan Party shall default in the observance or performance of any other obligation applicable to it contained in this
Agreement or any other Loan Document (other than as provided in paragraphs (a), (b), (c) and (d) of this Section 9),
and such default shall continue unremedied for a period of thirty (30) days after the earlier of (x) such Loan
Party having knowledge of such default or (y) notice thereof from the Administrative Agent to any Borrower; or

 

    	-207-	 

     

    

 

(f)            Any Loan Party shall (A) default in any payment of principal of or interest on any Indebtedness (other than the Loans
or Reimbursement Obligations) or in the payment of any Guarantee Obligation, beyond the period of grace, if any, provided in the
instrument or agreement under which such Indebtedness or Guarantee Obligation was created, if the aggregate amount of the Indebtedness
and/or Guarantee Obligations of any Loan Party in respect of which such default or defaults shall have occurred is at least $10,000,000;
(B) default in the observance or performance of any other agreement or condition relating to any such Indebtedness or such
Guarantee Obligation (in each case involving the amounts specified in clause (A) above) 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 permit the holder or holders of such Indebtedness or beneficiary or beneficiaries of
such Guarantee Obligation (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause,
with the giving of notice if required, such Indebtedness to become due prior to its stated maturity (other than with respect to
Indebtedness that is, by its terms, callable upon demand) or such Guarantee Obligation to become payable; or (C) default in
the observance or performance of any obligation (payment or otherwise) under a Financial Hedging Agreement or a Commodity OTC Contract
that would allow the counterparty thereof to exercise a right to terminate its position under such Financial Hedging Agreement
or Commodity OTC Contract, if the aggregate net exposure with regard to all such positions is in excess of $10,000,000; or

 

(g)           (i) Any Loan Party 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, arrangement, liquidation, winding-up
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, interim receiver, receiver and manager, trustee,
custodian, conservator or other similar official for it or for all or any substantial part of its assets, or any Loan Party shall
make a general assignment for the benefit of its creditors; or (ii) there shall be commenced against any Loan Party any case,
proceeding or other action of a nature referred to in clause (i) above which (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 sixty (60)
days; or (iii) there shall be commenced against any Loan Party 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 which results
in the entry of an order for any such relief with regard to all or any substantial part of its assets, which shall not have been
vacated, discharged, or stayed or bonded pending appeal within forty-five (45) days from the entry thereof; or (iv) any
Loan Party 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 Loan Party shall generally not, or shall be unable to, or shall
admit in writing its inability to, pay its debts as they become due; or

 

    	-208-	 

     

    

 

(h)         
(i) Any Person that is a fiduciary, party-in-interest or disqualified person with respect to a Plan shall engage in
any non-exempt “prohibited transaction” (as defined in Section 406 of ERISA or Section 4975 of the Code)
involving such Plan; (ii) any failure to satisfy the minimum funding requirements of Section 412 or 430 of the Code,
whether or not waived, shall occur with respect to any Plan, a Plan shall be determined to be “at risk” status within
the meaning of Section 430 of the Code 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; (iii) 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; (iv) any Single Employer Plan shall terminate
pursuant to Section 4041(c) or 4042 of ERISA; (v) the Loan Parties or any Commonly Controlled Entity incur any liability
in connection with a complete or partial withdrawal from, or the Insolvency or termination of, a Multiemployer Plan or a determination
that any Multiemployer Plan is or is expected to be endangered, seriously endangered or in critical status, in each case within
the meaning of Sections 431 or 432 of the Code or Sections 304 or 305 of ERISA, or any Loan Party or any Commonly Controlled
Entity fails to make any required contributions to a Multiemployer Plan pursuant to Sections 431 or 432 of the Code; (vi) the
failure of any Plan to comply with any material provisions of ERISA and/or the Code (and applicable regulations under either)
or with the material terms of such Plan; (vii) the failure by any Loan Party or any of its Commonly Controlled Entities to
pay when due (after expiration of any applicable grace period) any installment payment with respect to Withdrawal Liability under
Section 4201 of ERISA; (viii) the withdrawal by any Loan Party or any of their respective Commonly Controlled Entities
from any Single Employer Plan with two or more contributing sponsors or the termination of any such Single Employer Plan resulting
in liability to any Loan Party or any of their respective Affiliates pursuant to Section 4063 or 4064 of ERISA; (ix) the
imposition of liability on any Loan Party or any of their respective Commonly Controlled Entities pursuant to Section 4062(e)
or 4069 of ERISA or by reason of the application of Section 4212(c) of ERISA; (x) the occurrence of an act or omission
which could give rise to the imposition on any Loan Party or any of their respective Commonly Controlled Entities of fines, penalties,
taxes or related charges under Chapter 43 of the Code or under Section 409, Section 502(c), (i) or (l), or Section 4071
of ERISA in respect of any Plan; (xi) the assertion of a material claim (other than routine claims for benefits) against
any Plan other than a Multiemployer Plan or the assets thereof, or against any Loan Party or any of their respective Commonly
Controlled Entities in connection with any Plan; (xii) receipt from the IRS of notice of the failure of any Single Employer
Plan (or any other Plan intended to be qualified under Section 401(a) of the Code) to qualify under Section 401(a) of
the Code, or the failure of any trust forming part of any Single Employer Plan (or any other Plan) to qualify for exemption from
taxation under Section 501(a) of the Code; (xiii) the imposition of a Lien pursuant to Section 430(k) of the Code
or pursuant to ERISA with respect to any Single Employer Plan; or (xiv) any other event or condition shall occur or exist
with respect to a Plan; and in each case in clauses (i) through (xiv) above, such event or condition, together with
all other such events or conditions, if any, could reasonably be expected to have a Material Adverse Effect; or

 

(i)            One or more judgments or decrees shall be entered against any Loan Party involving in the aggregate a liability (to the
extent not paid or covered by insurance) of $10,000,000 or more, and all such judgments or decrees shall not have been vacated,
discharged, stayed or bonded pending appeal within sixty (60) days from the entry thereof; or

 

(j)            (i) Any
of the Security Documents shall cease, for any reason, to be in full force and effect, or any Loan Party shall so assert or (ii) the
Lien created by any of the Security Documents shall cease to be enforceable and of the same effect and priority purported to be
created thereby with respect to Collateral having an aggregate fair market value in excess of $10,000,000 (other than, in each
case, by reason of the express release thereof pursuant to Section 11.5); or

 

    	-209-	 

     

    

 

(k)           The
Guarantee shall cease, for any reason (other than by reason of the express release thereof pursuant to Section 11.5),
to be in full force and effect or any Loan Party shall so assert; or

 

(l)            (i) Any Loan Party shall, directly or indirectly, terminate or cause to terminate, in whole or in part, or initiate
the termination of, in whole or in part, any Canadian Pension Plan so as to result in any liability which could reasonably be expected
to have a Material Adverse Effect; (ii) a going concern unfunded liability or the solvency deficiency (calculated using actuarial
methods and assumptions which are consistent with the valuations last filed with the applicable Governmental Authorities and which
are consistent with generally accepted actuarial principles) exists under any Canadian Pension Plan; (iii) any Loan Party
or any of its Subsidiaries shall fail to make minimum required contributions to amortize any funding deficiencies under a Canadian
Pension Plan within the time period set out in Requirements of Laws or fail to make a required contribution under any Canadian
Pension Plan or Canadian Benefit Plan which could result in the imposition of a Lien upon the assets of such Loan Party or any
of its Subsidiaries; or (iv) any Loan Party or any of its Subsidiaries makes any withdrawals or applications of assets of
a Canadian Pension Plan or Canadian Benefit Plan contrary to the terms of the Canadian Pension Plan or Canadian Benefit Plan, respectively,
or applicable laws;

 

(m)          Any
agreement or provision pertaining to the subordination of any Axel Johnson Subordinated Indebtedness or Intercompany Subordinated
Indebtedness under a subordination agreement shall cease, for any reason, to be in full force and effect, while such Indebtedness
is outstanding; or

 

(n)           Any
Change of Control shall occur;

 

then, and in any such event, (A) if
such event is an Event of Default specified in clause (i) or (ii) of paragraph (g) of this Section 9 with
respect to any Borrower, the Commitments and Dollar Working Capital Facility Uncommitted Tranche Portions shall immediately and
automatically terminate and the Loans and Reimbursement Obligations (except as provided in the following paragraph) hereunder (with
accrued interest thereon) and all other amounts owing under this Agreement 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 U.S. Borrower, declare the Commitments and Dollar Working Capital Facility Uncommitted Tranche Portions to be terminated
forthwith, whereupon the Commitments and Dollar Working Capital Facility Uncommitted Tranche Portions 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 U.S. Borrower, declare the Loans and, except as provided in the following paragraph,
Reimbursement Obligations hereunder (with accrued interest thereon) and all other amounts owing under this Agreement (including
all amounts of L/C Obligations) to be due and payable forthwith, whereupon the same shall immediately become due and payable.

 

    	-210-	 

     

    

 

With respect to all outstanding
Letters of Credit with respect to which demand for payment shall not have occurred at the time of an acceleration pursuant to the
preceding paragraph, the Borrowers shall at such time Cash Collateralize the aggregate then-undrawn and unexpired amount of such
Letters of Credit. The Borrowers hereby grant to the Administrative Agent, for the benefit of the Issuing Lenders, the Lenders,
the L/C Participants and the other Secured Parties, a security interest in such Cash Collateral to secure all obligations
of the Borrowers under this Agreement and the other Loan Documents and all other Obligations. Cash Collateralized amounts shall
be applied by the Administrative Agent to the payment of drafts drawn under such Letters of Credit, and fees owing with respect
to such Letters of Credit, and the unused portion thereof after all such Letters of Credit shall have expired or been fully drawn
upon, if any, shall be applied to repay other obligations of the Borrowers hereunder and under the Notes and any other Obligations.
After all such Letters of Credit shall have expired or been fully drawn upon, all Reimbursement Obligations shall have been satisfied
and all other obligations of the Borrowers hereunder and under the Notes and all other Obligations shall have been paid in full,
the balance, if any, in such cash collateral account shall be returned to the Borrowers. The Borrowers shall execute and deliver
to the Administrative Agent, for the account of the Issuing Lenders, the Lenders, the L/C Participants and the other Secured
Parties, such further documents and instruments as the Administrative Agent may reasonably request to evidence the creation and
perfection of the security interest in such Cash Collateral account.

 

The Secured Parties shall
have rights and remedies as provided in the Loan Documents, provided that for purposes of clarification, the parties acknowledge
that the net proceeds from the exercise of remedies against any Collateral and any disposition thereof or the use of funds in any
Cash Management Account shall be applied first to pay outstanding Obligations or, as provided in the Loan Documents, to prepay
Obligations or as Cash Collateral for certain Obligations, with any amounts in excess thereof, subject to applicable Requirements
of Law, being returned to the Loan Parties or whomever else may be lawfully entitled to receive the same.

 

 

SECTION
10    THE ADMINISTRATIVE AGENT

 

10.1         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.

 

    	-211-	 

     

    

 

(b)           Each
Qualified Counterparty and each Qualified Cash Management Bank, pursuant to the terms of the applicable Hedging Agreement Qualification
Notification and/or by accepting the grant by the Loan Parties of the security interest in the Collateral pursuant to the Security
Documents, hereby irrevocably designates and appoints the Administrative Agent as the agent of such Qualified Counterparty or
Qualified Cash Management Bank under this Agreement and the other Loan Documents, and each such Qualified Counterparty and Qualified
Cash Management Bank 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 Qualified Counterparty or Qualified Cash Management Bank, 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.

 

(c)           For
the purposes of holding any security granted by the Canadian Borrower or any other Loan Party pursuant to the laws of the Province
of Quebec prior to the date hereof, to secure payment of any bond issued by the Canadian Borrower or any Loan Party, each Lender
hereby irrevocably appoints and authorizes the Administrative Agent to act as the person holding the power of attorney (i.e. “fondé
de pouvoir”) (in such capacity, the “Attorney”) of the Lenders as contemplated under Article 2692
of the Civil Code of Québec at the time of the granting of such security, and to enter into, to take and to hold
on its behalf, and for its benefit, any hypothec, and to exercise such powers and duties that are conferred upon the Attorney
under any hypothec. Moreover, without prejudice to such appointment and authorization to act as the person holding the power of
attorney as aforesaid, each Lender hereby irrevocably appoints and authorizes the Administrative Agent (in such capacity, the
 “Custodian”) to act as agent and custodian for and on behalf of the Lenders to hold and be the sole registered
holder of any bond which may be issued under any hypothec, the whole notwithstanding Section 32 of An Act respecting the
special powers of legal persons (Quebec) or any other applicable law, and to execute all related documents. Each of the Attorney
and the Custodian shall: (a) have the sole and exclusive right and authority to exercise, except as may be otherwise specifically
restricted by the terms hereof, all rights and remedies given to the Attorney and the Custodian (as applicable) pursuant to any
hypothec, bond, pledge, applicable laws or otherwise, (b) benefit from and be subject to all provisions hereof with respect
to the Administrative Agent mutatis mutandis, including, without limitation, all such provisions with respect to the liability
or responsibility to and indemnification by the Lenders, and (c) be entitled to delegate from time to time any of its powers
or duties under any hypothec, bond, or pledge on such terms and conditions as it may determine from time to time. Any person who
becomes a Lender shall, by its execution of an Assignment and Acceptance, be deemed to have consented to and confirmed: (i) the
Attorney as the person holding the power of attorney as aforesaid and to have ratified, as of the date it becomes a Lender, all
actions taken by the Attorney in such capacity, and (ii) the Custodian as the agent and custodian as aforesaid and to have
ratified, as of the date it becomes a Lender, all actions taken by the Custodian in such capacity. The substitution of the Administrative
Agent pursuant to the provisions of this Article 10 shall also constitute the substitution of the Attorney and the Custodian.

 

    	-212-	 

     

    

 

(d)           For the purposes of holding any security granted by the Canadian Borrower or any other Loan Party pursuant to the Laws of
the Province of Quebec on or following the date hereof, the Secured Parties hereby irrevocably appoint and authorize the Administrative
Agent to act as their hypothecary representative as contemplated under Article 2692 of the Civil Code of Québec,
and to enter into, to take and to hold on their behalf, and for their benefit, any security, including any hypothec or other Lien,
and to exercise such powers and duties that are conferred upon the Administrative Agent, as hypothecary representative, under any
Loan Documents. Any person who becomes a Secured Party shall, upon becoming a Secured Party (including any Lender by its execution
of an Assignment and Acceptance). be deemed to have consented to and confirmed the Administrative Agent as the hypothecary representative
of the Secured Parties and to have ratified, as of the date it becomes a Secured Party, all actions taken by the Administrative
Agent in such capacity. For greater certainty, the Administrative Agent, in its capacity as hypothecary representative, shall have
the same rights, powers, immunities, indemnities and exclusions from liability as are prescribed in favour of the Administrative
Agent in this Agreement, which shall apply mutatis mutandis. The substitution of the Administrative Agent pursuant to the
provisions of this Article 10, shall also constitute the substitution of the Administrative Agent as hypothecary representative
as aforesaid.

 

10.2         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.

 

10.3         Exculpatory Provisions. Neither the Administrative Agent nor any of its officers, directors, employees, agents, attorneys-in-fact,
Subsidiaries or Affiliates (each, an “Agent-Related Person”) shall be (i) liable for any action lawfully
taken or omitted to be taken by it or such Person under or in connection with this Agreement or any other Loan Document (except
for its or such Person’s own gross negligence or willful misconduct) or (ii) responsible in any manner to any of the
Lenders for any recitals, statements, representations or warranties made by any Loan Party or any officer thereof contained in
this Agreement or any other Loan Document or in any certificate, report, statement or other document referred to or provided for
in, or received by the Administrative Agent under or in connection with, this Agreement or any other Loan Document or for the value,
validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document or for any failure
of any Loan Party to perform its obligations hereunder or thereunder. The Administrative Agent shall not be under any obligation
to any Lender to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions
of, this Agreement or any other Loan Document, or to inspect the properties, books or records of any Loan Party.

 

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10.4         Reliance
by Administrative Agent. The Administrative Agent shall be entitled to rely, and shall be fully protected in
relying, upon any Note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, 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 the
U.S. Borrower, the Canadian Borrower or any other Loan Party), independent accountants and other experts selected by the Administrative
Agent with reasonable care. The Administrative Agent may deem and treat the payee of any Note as the owner thereof for all purposes
unless a 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, the Majority Facility Lenders, the Required Committed
Lenders or the Required Dollar Working Capital Facility Uncommitted Tranche Lenders, as applicable, (or such greater percentage
of Lenders as shall be required therefor under Section 11.1) as it deems appropriate or as otherwise required by Section 11.1
or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which 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, the Majority Facility Lenders, the Required Committed Lenders or the Required Dollar Working Capital
Facility Uncommitted Tranche Lenders, as applicable, (or such greater percentage of Lenders as shall be required therefor under
Section 11.1) and such request and any action taken or failure to act pursuant thereto shall be binding upon all of
the Lenders and all future holders of the Loans and all other Obligations.

 

10.5         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 hereunder unless the Administrative Agent has received notice from a Lender, or any Borrower or any other Loan Party
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 Default as shall be reasonably directed
by the Required 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.

 

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10.6         Non-Reliance
on Administrative Agent and Other Lenders. Each Lender expressly acknowledges that neither the Administrative
Agent nor any of their respective officers, directors, employees, agents, attorneys-in-fact, Subsidiaries or Affiliates has made
any representations or warranties to it and that no act by the Administrative Agent hereinafter taken, including any review of
the affairs of any Borrower or any other Loan Party or any audit performed by the Administrative Agent’s internal auditor
pursuant to Section 7.9, shall be deemed to constitute any representation or warranty by the Administrative Agent
to any Lender. Each Lender represents to the Administrative Agent that it has, independently and without reliance upon the Administrative
Agent, any Arranger of the Facilities, any Commitments, any Dollar Working Capital Facility Uncommitted Tranche Portions or any
amendment to this Agreement or any other Lender and their respective Related Parties, 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 Borrowers and the other Loan Parties and made its own decision to extend credit to
the Borrowers hereunder and enter into this Agreement. Each Lender also represents that it will, independently and without reliance
upon the Administrative Agent, any Arranger of the Facilities, any Commitments, any Dollar Working Capital Facility Uncommitted
Tranche Portions or any amendment to this Agreement or any other Lender and their respective Related Parties, 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 Borrowers
and other Loan Parties. Except for notices, reports and other documents expressly required to be furnished to the Lenders by the
Administrative Agent hereunder or under any of the other Loan Documents, 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 the Borrowers or any other Loan Party which may come into the possession of the
Administrative Agent or any of its officers, directors, employees, agents, attorneys-in-fact, Subsidiaries or Affiliates. Without
limiting the generality of the foregoing, the Administrative Agent shall not have any duty to monitor the Collateral used to calculate
the U.S. Borrowing Base or the Kildair Borrowing Base or the reporting requirements or the contents of reports delivered by any
Borrower. Each Lender assumes the responsibility of keeping itself informed at all times.

 

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10.7         Indemnification.
The Lenders agree to indemnify the Administrative Agent and each other Agent-Related Person on an after-Tax basis in its capacity
as such (to the extent not reimbursed by the Borrowers and without limiting the obligation of the Borrowers to do so), ratably
according to their respective Commitment Percentages and/or Adjusted Dollar Working Capital Facility Uncommitted Tranche Percentages
(as applicable) in effect on the date on which indemnification is sought, from and against any and all liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever which may at any
time (including at any time following the payment of the Loans and Reimbursement Obligations and the cash collateralization of
the L/C Obligations) be imposed on, incurred by or asserted against the Administrative Agent or such Agent-Related Person
in any way relating to or arising out of, the Commitments, the Dollar Working Capital Facility Uncommitted Tranche Portions, 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 the Administrative Agent 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 resulting solely from the Administrative Agent’s
or such Agent-Related Person’s gross negligence or willful misconduct. The agreements in this Section 10.7 shall
survive the payment of the Loans, Reimbursement Obligations and all amounts payable hereunder and the cash collateralization of
the L/C Obligations.

 

10.8         Administrative
Agent in Its Individual Capacity. The Administrative Agent and its Subsidiaries and Affiliates may make loans and other extensions
of credit to, accept deposits from and generally engage in any kind of business with the Borrowers and the other Loan Parties
and their Subsidiaries and Affiliates as though the Administrative Agent were not the Administrative Agent hereunder and under
the other Loan Documents. With respect to the Loans and other extensions of credit made by it hereunder, the Administrative 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 the Administrative Agent, and the terms “Lender” and “Lenders” shall include the
Administrative Agent in its individual capacity.

 

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10.9         Successor
Administrative Agent. The Administrative Agent may resign as the Administrative Agent upon thirty (30)
days’ notice to the U.S. Borrower and the Lenders (or, if the Administrative Agent has become the subject of a bankruptcy
or insolvency proceeding, or has had a receiver, conservator, trustee or custodian appointed for it, or has taken any action in
furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding or appointment or has a parent
company that has become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee or custodian
appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in any
such proceeding or appointment, the Administrative Agent may be removed at any time thereafter by an instrument or concurrent
instruments in writing delivered to the Borrowers and the Administrative Agent and signed by the Required Lenders). If the Administrative
Agent shall resign (or be removed) as the Administrative Agent under this Agreement and the other Loan Documents, then the Required
Lenders shall appoint from among the Lenders (unless no Lender is willing to act as the Administrative Agent, in which case the
Administrative Agent may be any Person approved by the Required Lenders) a successor Administrative Agent for the Lenders, which
successor Administrative Agent shall be approved by the U.S. Borrower (which approval shall not be unreasonably withheld and shall
not be required during the continuance of an Event of Default), whereupon such successor Administrative Agent shall succeed to
the rights, powers and duties of the Administrative Agent and the term “Administrative Agent” shall mean such successor
Administrative 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 or other Obligations. After any retiring Administrative
Agent’s resignation (or removal) as Administrative Agent, the provisions of this Section 10 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. If no successor Administrative Agent has accepted appointment as Administrative Agent by the date which is thirty (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 perform all of the duties of such Administrative Agent hereunder
and under the other Loan Documents until such time, if any, as the Required Lenders appoint a successor agent as provided for
above.

 

10.10      
Collateral Matters. 

 

(a)            The
Administrative Agent is authorized on behalf of all of the Secured Parties, without the necessity of any notice to or further
consent from the Secured Parties, from time to time to take any action with respect to any Collateral or the Loan Documents which
may be necessary to perfect and maintain perfected the security interest in and Liens upon the Collateral granted pursuant to
the Loan Documents.

 

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(b)           The
Lenders, and each Qualified Counterparty and each Qualified Cash Management Bank (pursuant to the terms of the applicable Hedging
Agreement Qualification Notification and/or by accepting the grant by the Loan Parties of the security interest in the Collateral
pursuant to the Security Documents), irrevocably authorize the Administrative Agent, at its option and in its discretion, to release
any Lien granted to or held by the Administrative Agent upon any Collateral (i) upon termination of the Commitments and the
Dollar Working Capital Facility Uncommitted Tranche Portions, and payment in full of all Loans and all other Obligations known
to the Administrative Agent and payable under this Agreement or any other Loan Document (except indemnification obligations for
which no claim has been made and of which no Responsible Person of any Loan Party has knowledge or any obligations owed under
a Commodity OTC Agreement with a Qualified Counterparty, any Financial Hedging Agreement with a Qualified Counterparty or any
Cash Management Bank Agreement with a Qualified Cash Management Bank); (ii) constituting property sold or to be sold or disposed
of as part of or in connection with any sale, transfer or other disposition permitted hereunder; (iii) constituting property
in which the Loan Parties owned no interest at the time the Lien was granted or at any time thereafter; (iv) constituting
property leased to any Loan Party under a lease which has expired or been terminated in a transaction permitted under this Agreement
or is about to expire and which has not been, and is not intended by a Loan Party to be, renewed or extended; (v) consisting
of an instrument evidencing Indebtedness or other debt instrument, if the indebtedness evidenced thereby has been paid in full;
or (vi) if approved, authorized or ratified in writing by the portion of the Lenders required by Section 11.1.
Upon request by the Administrative Agent at any time, the Lenders will confirm in writing the Administrative Agent’s authority
to release particular types or items of Collateral pursuant to this Section 10.10; provided that the absence
of any such confirmation for whatever reason shall not affect the Administrative Agent’s rights under this Section 10.10.

 

(c)            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.

 

10.11       Arrangers,
Co-Documentation Agents, Co-Collateral Agents and the Co-Syndication Agents. None of any Arranger, any Co-Documentation Agent,
any Co-Collateral Agent or any Co-Syndication Agent, in their respective capacities as such, shall have any duties or responsibilities,
nor shall any such Person in such capacity incur any liability under this Agreement or the other Loan Documents.

 

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10.12      
Credit Bidding. The Secured Parties hereby irrevocably authorize the Administrative Agent, at the direction of the
Required Lenders, to credit bid all or any portion of the Obligations (including by accepting some or all of the Collateral in
satisfaction of some or all of the Obligations pursuant to a deed in lieu of foreclosure or otherwise) and in such manner purchase
(either directly or through one or more acquisition vehicles) all or any portion of the Collateral (a) at any sale thereof
conducted under the provisions of the Bankruptcy Code, including under Sections 363, 1123 or 1129 of the Bankruptcy Code,
or any similar laws in any other jurisdictions, or (b) at any other sale, foreclosure or acceptance of collateral in lieu
of debt conducted by the Administrative Agent or with the consent or at the direction of the Administrative Agent (whether by judicial
action or otherwise) in accordance with any applicable law. In connection with any such credit bid and purchase, the Obligations
owed to the Secured Parties shall be entitled to be, and shall be, credit bid by the Administrative Agent at the direction of the
Required Lenders on a ratable basis (with Obligations with respect to contingent or unliquidated claims receiving contingent interests
in the acquired assets on a ratable basis that shall vest upon the liquidation of such claims in an amount proportional to the
liquidated portion of the contingent claim amount used in allocating the contingent interests) for the asset or assets so purchased
(or for the equity interests or debt instruments of the acquisition vehicle or vehicles that are issued in connection with such
purchase). In connection with any such bid (i) the Administrative Agent shall be authorized to form one or more acquisition
vehicles and to assign any successful credit bid to such acquisition vehicle or vehicles, (ii) each of the Secured Parties’
ratable interests in the Obligations which were credit bid shall be deemed without any further action under this Agreement to be
assigned to such vehicle or vehicles for the purpose of closing such sale, (iii) the Administrative Agent shall be authorized
to adopt documents providing for the governance of the acquisition vehicle or vehicles (provided that any actions by the
Administrative Agent with respect to such acquisition vehicle or vehicles, including any disposition of the assets or equity interests
thereof, shall be governed, directly or indirectly, by, and the governing documents shall provide for, control by the vote of the
Required Lenders or their permitted assignees under the terms of this Agreement or the governing documents of the applicable acquisition
vehicle or vehicles, as the case may be, irrespective of the termination of this Agreement and without giving effect to the limitations
on actions by the Required Lenders contained in Section 11.1 of this Agreement), (iv) the Administrative Agent
on behalf of such acquisition vehicle or vehicles shall be authorized to issue to each of the Secured Parties, ratably on account
of the relevant Obligations which were credit bid, interests, whether as equity, partnership, limited partnership interests or
membership interests, in any such acquisition vehicle and/or debt instruments issued by such acquisition vehicle, all without the
need for any Secured Party or acquisition vehicle to take any further action, and (v) to the extent that Obligations that
are assigned to an acquisition vehicle are not used to acquire Collateral for any reason (as a result of another bid being higher
or better, because the amount of Obligations assigned to the acquisition vehicle exceeds the amount of Obligations credit bid by
the acquisition vehicle or otherwise), such Obligations shall automatically be reassigned to the Secured Parties pro rata
and the equity interests and/or debt instruments issued by any acquisition vehicle on account of such Obligations shall automatically
be cancelled, without the need for any Secured Party or any acquisition vehicle to take any further action. Notwithstanding that
the ratable portion of the Obligations of each Secured Party are deemed assigned to the acquisition vehicle or vehicles as set
forth in clause (ii) above, each Secured Party shall execute such documents and provide such information regarding the Secured
Party (and/or any designee of the Secured Party which will receive interests in or debt instruments issued by such acquisition
vehicle) as the Administrative Agent may reasonably request in connection with the formation of any acquisition vehicle, the formulation
or submission of any credit bid or the consummation of the transactions contemplated by such credit bid.

 

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10.13      
Single Action Rule. Each Secured Party hereby agrees that, except as otherwise provided in any Loan Documents or
with the written consent of the Administrative Agent and the Required Lenders, it will not take any enforcement action with respect
to the Collateral, accelerate obligations under any Loan Documents, or exercise any right that it might otherwise have under applicable
law to credit bid at foreclosure sales, UCC sales, PPSA sales or other similar dispositions of Collateral; provided, however,
that the foregoing shall not prohibit (i)  the Administrative Agent from exercising on its own behalf the rights and remedies
that inure to its benefit (solely in its capacity as the Administrative Agent) hereunder and under the other Loan Documents, (ii) the
applicable Swing Line Lender from exercising the rights and remedies that inure to its benefit (solely in its capacity as a Swing
Line Lender, as the case may be) hereunder and under the other Loan Documents, (iii) any Issuing Lender from exercising the
rights and remedies that inure to its benefit (solely in its capacity as an Issuing Lender, as the case may be) hereunder and under
the other Loan Documents, (iv) any Lender or Issuing Lender from exercising set-off rights in accordance with Section 11.8(b)
(subject to the terms of Section 11.8(a)), or (v) any Lender or Issuing Lender from filing proofs of claim or appearing
and filing pleadings on its own behalf during the pendency of a proceeding relative to any Loan Party under the Bankruptcy Code
or any Insolvency Law; and provided, further, that if at any time there is no Person acting as the Administrative
Agent hereunder and under the other Loan Documents, then (A) the Required Lenders shall have the rights otherwise ascribed
to the Administrative Agent pursuant to Section 9.1 and (B) in addition to the matters set forth in clauses (ii),
(iii), (iv) and (v) of the preceding proviso and subject to Section 11.8(b), any Lender or Issuing Lender may, with the
consent of the Required Lenders, enforce any rights and remedies available to it and as authorized by the Required Lenders. No
Subordinated Party shall commence any enforcement action against any of the Collateral except to the extent their right to do so
is expressly provided for or permitted in Loan Documents.

 

10.14       Collateral
Sharing Provisions. Each Secured Party hereby acknowledges and agrees that their respective Lien priorities, the distribution
of proceeds of Collateral, the exercise of remedies under the Security Documents, amendment and waivers of the Loan Documents
and other matters relating to the Collateral are subject to and governed by Section 9.1 of this Agreement, Sections
8 and 10 of the U.S. Security Agreement, Sections 8 and 10 of the Canadian Security Agreement, Section 8 of the U.S. Pledge Agreement
and Section 8 of the Canadian Pledge Agreement. Each Secured Party, by delivering its signature page hereto, to an Assignment
and Acceptance or to a Hedging Agreement Qualification Notification and/or by accepting the grant by the Loan Parties of the security
interest in the Collateral pursuant to the Security Documents (as the case may be), shall be deemed to have acknowledged receipt
of, consented to and approved and agreed to be bound by Section 9.1 of this Agreement, Section 10 of the U.S. Security
Agreement and Section 10 of the Canadian Security Agreement.

 

10.15      
Certain ERISA Matters. 

 

(a)           Each
Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date
such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative
Agent and not, for the avoidance of doubt, to or for the benefit of any Borrower, that at least one of the following is and will
be true:

 

(i)            such
Lender is not using “plan assets” (within the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit
Plans with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the
Letters of Credit, the Commitments, the Dollar Working Capital Facility Uncommitted Tranche Portions or this Agreement,

 

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(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, the Dollar Working Capital
Facility Uncommitted Tranche Portions and this Agreement,

 

(iii)          (A)
such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part
VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter
into, participate in, administer and perform the Loans, the Letters of Credit, the Commitments, the Dollar Working Capital Facility
Uncommitted Tranche Portions and this Agreement, (C) the entrance into, participation in, administration of and performance of
the Loans, the Letters of Credit, the Commitments, the Dollar Working Capital Facility Uncommitted Tranche Portions 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, the Dollar Working Capital Facility
Uncommitted Tranche Portions 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.

 

(b)          
In addition, unless either (1) sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or
(2) a Lender has provided another representation, warranty and covenant in accordance with sub-clause (iv) in the immediately preceding
clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y)
covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for
the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of any Borrower, that Administrative
Agent is not a fiduciary with respect to the assets of such Lender involved in such Lender’s entrance into, participation
in, administration of and performance of the Loans, the Letters of Credit, the Commitments, the Dollar Working Capital Facility
Uncommitted Tranche Portions and this Agreement (including in connection with the reservation or exercise of any rights by the
Administrative Agent under this Agreement, any Loan Document or any documents related hereto or thereto).

 

SECTION
11    MISCELLANEOUS

 

11.1         Amendments
and Waivers. Neither this Agreement nor 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 11.1 or as otherwise expressly set forth in this
Agreement (including Section 4.23). The Required Lenders may, or, with the written consent of the Required Lenders, the
Administrative Agent may, from time to time, (a) enter into written amendments, supplements or modifications hereto and to
the other Loan Documents with the Loan Parties party thereto for the purpose of adding any provisions to this Agreement or the
other Loan Documents or changing in any manner the rights and obligations of the Lenders or of the Loan Parties party thereto
hereunder or thereunder or (b) waive or consent to any departure from, prospectively, concurrently or retrospectively, 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 or consent and no such amendment, supplement or modification shall:

 

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(i)            reduce
the amount or extend the scheduled date of maturity of any Loan or payment Obligation hereunder or any installment thereof (other
than any such Obligation to pay any interest or letter of credit commission at the rate set forth in Section 4.2(c)),
or extend the due date for any Reimbursement Obligation, or reduce the stated rate of any interest or fee payable hereunder (other
than the rates of interest or fees set forth in Section 4.2(c)) or extend the scheduled date of any payment thereof
or increase the amount or extend the expiration date of any Lender’s Commitment or Dollar Working Capital Facility Uncommitted
Tranche Portion, in each case without the additional written consent of each Lender affected thereby; or

 

(ii)           increase
any percentage in the definitions of “U.S. Borrowing Base” or “Kildair Borrowing Base” or otherwise amend
or modify the definitions of “U.S. Borrowing Base”, “Kildair Borrowing Base” or “Aggregate Borrowing
Base Amount” or any direct or indirect component definition of the foregoing that has the effect of increasing the Borrowing
Base Availability, in each case without the written consent of the Supermajority Lenders; or

 

(iii)          amend
or modify the definition of “Eligible Commodities” or any component definition thereof that has the effect of adding
commodities thereto without the written consent of the Supermajority Lenders; or

 

(iv)          consent
to any changes to the Risk Management Policy which are materially adverse to the Lenders without the written consent of the Supermajority
Lenders; or

 

(v)           amend,
modify or waive any provision of this Section 11.1 or change the percentage specified in the definition of Required
Lenders, Majority Facility Lenders or Supermajority Lenders, or consent to the assignment or transfer by any Loan Party of any
of their rights and obligations under this Agreement and the other Loan Documents, in each case without the written consent of
all of the Lenders; or

 

(vi)          (A) change the percentage specified in the definition of Required Committed Lenders without the written consent of all of
the Committed Lenders or (B) change the percentage specified in the definition of Required Dollar Working Capital Facility Uncommitted
Tranche Lenders without the written consent of all of the Dollar Working Capital Facility Uncommitted Tranche Lenders; or

 

(vii)         consent
to the release by the Administrative Agent of all or substantially all of the Collateral or release any Loan Party from its Guarantee
Obligations under the Guarantee or provide for the Collateral or the Guarantee to no longer secure or guarantee all Obligations
ratably, without the written consent of all of the Lenders, except to the extent such release is permitted or required under this
Agreement; or

 

(viii)        amend,
modify or waive any provision of Section 4.7(d) or (e), Section 4.9(a) or (b) or Section 11.8
or Section 8(b) of the U.S. Security Agreement, Section 8(b) of the Canadian Security Agreement, Section 8(a) of the U.S.
Pledge Agreement or Section 8(a) of the Canadian Pledge Agreement, without the written consent of all the Lenders affected thereby;
or

 

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(ix)           amend,
modify or waive any provision of Section 10, or any other provision affecting the rights, duties or obligations of
the Administrative Agent, without the written consent of the Administrative Agent; or

 

(x)            amend,
modify or waive any provision of Section 3, or any provision of Section 11.7(c) affecting the right of
the Issuing Lenders to consent to certain assignments thereunder, without the written consent of the Issuing Lenders or any other
provision affecting the rights, duties or obligations of any Issuing Lenders, without the additional written consent of any Issuing
Lender directly affected thereby; or

 

(xi)           amend,
modify or waive any provision affecting the rights, duties or obligations of any Swing Line Lender, without the written consent
of any Swing Line Lender directly affected thereby.

 

Notwithstanding the foregoing,
(a) amendments, supplements, modifications or waivers that impact only the Dollar Working Capital Facility Uncommitted Tranche
shall only require Required Dollar Working Capital Facility Uncommitted Tranche Lender consent or all Dollar Working Capital Facility
Uncommitted Tranche Lender or affected Dollar Working Capital Facility Uncommitted Tranche Lender consent, as set forth above and
(b) amendments, supplements, modifications or waivers that impact only the Committed Facilities shall only require Required Committed
Lender consent or all Committed Lender or affected Committed Lender consent, as set forth above.

 

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 Administrative Agent and all future holders of the Loans and other Obligations. In the case of any waiver, the
Loan Parties, the Lenders and the Administrative Agent shall be restored to their former positions 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.

 

Notwithstanding the foregoing,
(a) the Administrative Agent, with the consent of the U.S. Borrower, may amend, modify or supplement any Loan Document without
the consent of any Lender or the Required Lenders in order to correct, amend or cure any ambiguity, inconsistency or defect or
correct any typographical error or other manifest error in any Loan Document and (b) any waiver, amendment or modification
requiring the consent of all Lenders or each affected Lender that by its terms affects any Defaulting Lender disproportionately
adversely relative to other affected Lenders shall require the consent of such Defaulting Lender.

 

    	-223-	 

     

    

 

11.2         Notices.

 

(a)           General.
All notices, requests and demands to or upon the respective parties hereto to be effective shall be in writing (including by facsimile
or other electronic (including email) transmission) and, unless otherwise expressly provided herein, shall be deemed to have been
duly given or made (a) in the case of delivery by overnight courier or delivery by hand, when delivered, (b) in the
case of delivery by mail, three (3) Business Days after being deposited in the mails, postage prepaid, or (c) in the
case of delivery by facsimile or other electronic (including email) transmission, when sent and receipt has been electronically
confirmed, addressed as follows in the case of the U.S. Borrower, the Canadian Borrower and the Administrative Agent, and as set
forth in Schedule 1.0 in the case of the other parties hereto, or to such other address as may be hereafter notified
by the respective parties hereto:

 

	U.S. Borrower:	 	Sprague Operating Resources LLC
	 	 	185 International Drive
	 	 	Portsmouth, New Hampshire 03801
	 	 	Attention: Paul Scoff, Esq.
	 	 	Fax: (603) 430-5324

 

	Canadian Borrower:	 	Kildair Service ULC
	 	 	92, chemin Delangis
	 	 	St-Paul de Joliette (QC) J0K 3E0
	 	 	Attn: Jacques Ferraro
	 	 	Fax : 450 756-4783
	 	 	With a copy to:

 

	 	 	Sprague Operating Resources LLC
	 	 	185 International Drive
	 	 	Portsmouth, New Hampshire 03801
	 	 	Attention: Paul Scoff, Esq.
	 	 	Fax: (603) 430-5324
	 	 	with a copy to (which shall not constitute
notice):

 

	 	 	Baker Botts L.L.P.
	 	 	30 Rockefeller Plaza
	 	 	New York, New York 10112-4498
	 	 	Attention: Robert Wann, Esq.
	 	 	Robert.Wann@bakerbotts.com

 

	The Administrative Agent:	 	For
credit/administrative:
	 	 	MUFG Bank, Ltd.
	 	 	1221 Avenue of the Americas
	 	 	New York, NY 10020-1104
	 	 	Attention:  Lawrence Blat / Andre Fatovic
	 	 	Group Email address: Agencydesk@us.mufg.jp
	 	 	Phone:  (212) 405-6621

 

    	-224-	 

     

    

 

	 	For collateral management
    / operations:
	 	MUFG Bank, Ltd.
	 	1221 Avenue of the Americas
	 	New York, NY 10020-1104
	 	Attention: Nathalie Buchanan
	 	Group Email address: CFCMG@us.mufg.jp
	 	Phone:  (212) 782-4647
	 	 
	 	For loan support:
	 	MUFG Bank, Ltd.
	 	Harborside Financial Center,
    500 Plaza III
	 	Jersey City, NJ 07311
	 	Attention:  Oz Kurt (Ozkan
    Kurt)
	 	Email address: LODAgencyServices@us.mufg.jp
	 	Phone:  (201) 413-8567
	 	Fax:  (201) 521-2304
	 	 
	 	For standby letter of
    credit support:
	 	Trade Service Operations
	 	MUFG Bank, Ltd.
	 	Harborside Financial Center,
    500 Plaza III
	 	Jersey City, NJ 07311
	 	Attention:  Jaya Angara
	 	Email address: IOD_SBLC@us.mufg.jp
	 	Phone:  (201) 413-8843
	 	Fax:  (201) 521-2336 /
    2312
	 	 
	 	For documentary letter
    of credit support:
	 	Trade Service Operations
	 	MUFG Bank, Ltd.
	 	Harborside Financial Center,
    500 Plaza III
	 	Jersey City, NJ 07311
	 	Attention: Daniel Lamptey
	 	Email address: dlamptey@us.mufg.jp
	 	Phone: (201) 413-8841
	 	Fax:  (201) 521-2341
	 	 
	 	For all other purposes:
	 	MUFG Bank, Ltd.
	 	1251 Avenue of the Americas
	 	New York, NY 10020-1104
	 	(212) 782-6445
	 	Primary Contact

 

    	-225-	 

     

    

 

	 	Attention:  Sally Haswell
	 	Shaswell@us.mufg.jp
	 	Phone:  212-782-4709
	 	Secondary Contacts
	 	Attention: Kara McNulty
	 	kmcnulty@us.mufg.jp
	 	Phone: 212-782-4213
	 	 
	 	with a copy to (which shall
    not constitute notice):
	 	Cadwalader, Wickersham &
    Taft LLP
	 	227 W. Trade Street, Suite
    2400
	 	Charlotte, North Carolina 28202
	 	Attention: Jeffrey A. Nagle,
    Esq.
	 	Jeffrey.Nagle@cwt.com
	 	Fax: 704-348-5200

 

provided that any notice, request or demand
to or upon the Administrative Agent, the Issuing Lenders or the Lenders pursuant to Section 2.5, 2.6, 3.3,
3.6, 3.7, 4.1, 4.3, 4.6, 4.7, or 4.9 shall not be effective until received.

 

(b)               The
Platform. EACH BORROWER HEREBY ACKNOWLEDGES THAT THE ADMINISTRATIVE AGENT WILL MAKE AVAILABLE TO THE LENDERS MATERIALS AND/OR
INFORMATION PROVIDED BY OR ON BEHALF OF THE BORROWERS HEREUNDER (COLLECTIVELY, “BORROWER MATERIALS”) BY POSTING
THE BORROWER MATERIALS ON INTRALINKS OR ANOTHER SIMILAR ELECTRONIC SYSTEM (THE “PLATFORM”). THE PLATFORM IS
PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT-RELATED PERSONS 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-RELATED PERSON IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or
any other Agent-Related Person have any liability to any Loan Party, any Lender or any other Person for losses, claims, damages,
liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of any 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 nonappealable judgment to have resulted
from the gross negligence or willful misconduct of such Agent-Related Person; provided, however, that in no event
shall any Agent-Related Person have any liability to any Loan Party, any Lender or any other Person for indirect, special, incidental,
consequential or punitive damages (as opposed to direct or actual damages). 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 Borrowers, the other Loan Parties
or their respective 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. Each Public Lender agrees to cause at least one
individual at or on behalf of such Public Lender to at all times have selected the “Private Side Information” or similar
designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance
with such Public Lender’s compliance procedures and applicable Law, including United States Federal and state securities
Laws and Canadian federal and provincial securities Laws, to make reference to Borrower Materials that are not made available
through the “Public Side Information” portion of the Platform and that may contain material non-public information
with respect to any Loan Party or its securities for purposes of United States Federal or state securities laws and Canadian federal
and provincial securities Laws.

 

    	-226-	 

     

    

 

(c)              
Reliance by Administrative Agent and Lenders. The Administrative Agent and the Lenders shall be entitled to rely
and act upon any notices (including telephonic notices) purportedly and in good faith believed to be given by or on behalf of any
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 Borrowers jointly and severally indemnify the Administrative Agent and each Lender from all losses, costs, expenses
and liabilities resulting from the reliance by such Person on each notice purportedly and believed in good faith to be given by
or on behalf of any Borrower. All telephonic notices to and other communications with the Administrative Agent may be recorded
by the Administrative Agent, and each of the parties hereto hereby consents to such recording.

 

11.3             No Waiver; Cumulative Remedies. No failure to exercise and no delay in exercising, on the part of the Administrative
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 or under any other Loan Document
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 and in the other Loan Documents provided are cumulative and not exclusive of any rights, remedies,
powers and privileges provided by Law.

 

11.4             Survival of Representations and Warranties. All representations and warranties made herein, 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.

 

11.5             Release of Collateral and Guarantee Obligations. (a)  Upon any sale or other transfer of any Collateral
that is permitted under the Loan Documents by any Loan Party or a sale of all of the assets of, or all of the Capital Stock of,
a Subsidiary in a transaction that is permitted under the Loan Documents (other than a sale, transfer or other disposition to another
Loan Party), or upon the effectiveness of any written consent to the release of the security interest granted hereby in any Collateral
pursuant to Section 10.10 hereof, the security interest in such Collateral shall automatically terminate and the Administrative
Agent shall execute and a deliver a termination or satisfaction of any Mortgage and Security Agreement affecting such Collateral,
in proper form for recording.

 

    	-227-	 

     

    

 

(b)              
Upon any sale or other transfer of all of the Capital Stock of any Loan Party that is permitted or consented to under the
Loan Documents (other than a sale or transfer to another Loan Party), the Guarantee of such Loan Party shall automatically be released
and terminated.

 

(c)              
Upon termination of the Commitments and the Dollar Working Capital Facility Uncommitted Tranche Portions and payment in
full of the Loans and all other Obligations payable under this Agreement or any other Loan Document (except indemnification obligations
for which no claim has been made and of which no Responsible Person of any Loan Party has knowledge and Hedging and Bank Product
Obligations) and upon the date on which all Letters of Credit have been terminated, expired, Cash Collateralized or otherwise dealt
with to the satisfaction of the applicable Issuing Lender, the pledge and security interest granted pursuant to this Agreement
and the other Loan Documents shall automatically terminate and all rights to the Collateral shall revert to the applicable Loan
Party. Upon any such termination or pursuant to any termination or release as described in Section 11.5(a), the Administrative
Agent will, at the applicable Loan Party’s expense, execute and deliver to such Loan Party such documents as such Loan Party
shall reasonably request to evidence such termination.

 

11.6           
Payment of Costs and Expenses. Each Borrower, jointly and severally, agrees (a) to pay or reimburse the Administrative
Agent and the Lead Arranger for all its reasonable and documented out-of-pocket costs and expenses incurred in connection with
the syndication of the Facilities and the development, preparation, negotiation, execution, delivery and administration of, and
any amendment, supplement or modification to, 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 and documented fees and disbursements of one firm of counsel to the Administrative Agent and the Lead Arranger, one
regulatory counsel to the Administrative Agent and the Lead Arranger and a single firm of local counsel in each applicable jurisdiction,
(b) to pay or reimburse each Lender, the Swing Line Lender, each Issuing Lender, the Administrative Agent and the Lead Arranger,
for all its documented costs and expenses incurred in connection with the enforcement or preservation of any rights under this
Agreement, the other Loan Documents and any such other documents, including the documented fees and disbursements of counsel to
each Lender, the Lead Arranger, the Swing Line Lender and each Issuing Lender and of counsel to the Administrative Agent, (c) to
pay or reimburse the Administrative Agent and the Lead Arranger for their documented costs and expenses incurred in connection
with inspections performed pursuant to Section 7.9, and any other due diligence performed in connection with this Agreement
and the other Loan Documents, including the reasonable and documented fees and disbursements of counsel to the Administrative Agent
(including the fees and expenses of Cadwalader, Wickersham & Taft LLP and Fasken Martineau DuMoulin LLP), (d) to pay,
indemnify, and hold each Lender, the Swing Line Lender, the Issuing Lenders, the Administrative Agent and the Lead Arranger 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 similar taxes (except to the extent the Borrowers have otherwise indemnified such Person for such taxes
under Section 4.11(b)), if any, which 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 (including the determination of whether or not any such waiver or consent is required) under or in
respect of, this Agreement, the other Loan Documents and any such other documents, and (e) on a net after-Tax basis, to pay,
indemnify, and hold each Lender, the Issuing Lenders, the Administrative Agent and the Arrangers, and each of their respective
officers, employees, directors, trustees, agents, advisors, affiliates, partners 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 (including the reasonable and documented fees and expenses of one firm
of counsel for all Indemnitees, taken as a whole, and if necessary, one regulatory counsel and a single firm of local counsel in
each appropriate jurisdiction for all Indemnitees, taken as a whole (and in the case of an actual or perceived conflict of interest,
by another firm of counsel for the affected Indemnitee)) other than Taxes (as to which Section 4.10 and Section 4.11
shall govern) with respect to the execution, delivery, enforcement, performance and administration of this Agreement, the other
Loan Documents, and any such other documents or the use or proposed use of proceeds of the Facilities, including any of the foregoing
relating to the violation of, noncompliance with or liability under, any Environmental Law applicable to the operations of the
Loan Parties and any of their Subsidiaries, or any of the Properties, or any actual or prospective claim, litigation, investigation
or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory and regardless of whether any
Indemnitee is a party thereto (all the foregoing in this clause (e), collectively, the “Indemnified Liabilities”);
provided that the Borrowers shall have no obligation hereunder to any Indemnitee with respect to Indemnified Liabilities
to the extent such Indemnified Liabilities (x) are found by a final, non-appealable judgment of a court of competent jurisdiction
to have resulted from the bad faith, gross negligence or willful misconduct of such Indemnitee or any Related Person thereof, (y) are
found by a final, non-appealable judgment of a court of competent jurisdiction to have resulted from any material breach of the
obligations of such Indemnitee or any Related Person thereof or (z) result from any proceeding that is solely among Indemnitees
(other than any proceeding against the Administrative Agent or any Arranger or Person fulfilling a similar role in respect of the
Facilities in its capacity or in fulfilling its role as such) and does not involve an act or omission by the U.S. Borrower or any
of its Affiliates. The agreements in this Section 11.6 shall survive repayment of the Loans, Reimbursement Obligations
and all other amounts payable hereunder.

 

    	-228-	 

     

    

 

11.7             Successors and Assigns; Participations and Assignments.
(a)  This Agreement shall be binding upon and inure to the benefit of the Borrowers, the Lenders, the Administrative
Agent and their respective successors and assigns, except that no Borrower may assign or transfer any of its rights or obligations
under this Agreement without the prior written consent of each Lender (and any purported such assignment or transfer by any Borrower
without such consent of each Lender shall be null and void).

 

(b)              
Any Lender may, in accordance with applicable Law, at any time sell to one or more banks, financial institutions or other
entities (other than the U.S. Borrower or any of its Subsidiaries or Affiliates or any natural person) (individually, a “Participant”
and, collectively, the “Participants”) (so long as no Default or Event of Default has occurred and is continuing,
only to a Person other than an Ineligible Participant) participating interests in any Loan or Reimbursement Obligation owing to
such Lender, any Commitment of such Lender, any Dollar Working Capital Facility Uncommitted Tranche Portion of such Lender or any
other interest of such Lender hereunder and under the other Loan Documents (a “Participation”). In the event
of any such sale by a Lender of a participating interest to a Participant, such Lender’s obligations under this Agreement
to the other parties to this Agreement shall remain unchanged, such Lender shall remain solely responsible for the performance
thereof, such Lender shall remain the holder of any such Loan, Reimbursement Obligation or other interest for all purposes under
this Agreement and the other Loan Documents, and the Borrowers and the Administrative Agent shall continue to deal solely and directly
with such Lender in connection with such Lender’s rights and obligations under this Agreement and the other Loan Documents,
except with respect to Section 4.10 and 4.11, under which the Participant has certain rights with respect thereto.
In no event shall any Participant under any such Participation have any right to approve any amendment to or waiver of any provision
of any Loan Document, or any consent to any departure by any Loan Party therefrom, except to the extent that such amendment, waiver
or consent would reduce the principal of, or the stated rate of interest on, the Loans, Reimbursement Obligation or any fees payable
hereunder, or postpone the date of the final maturity of the Loans or Reimbursement Obligations, in each case to the extent subject
to such Participation (and, for the avoidance of doubt, each Borrower may exercise any rights granted to them in Section 4.17
with respect to the Lender that sold a Participation to such Participant to the extent that the direction by such Participant to
such Lender to not consent to any such amendment would cause the applicable Lender to be subject to the provisions of Section 4.17).
The Borrowers agree that if amounts outstanding under this Agreement are due or unpaid during an Event of Default, or shall have
been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall, to the maximum
extent permitted by applicable Law, be deemed to have the right of setoff in respect of its participating interest in amounts owing
under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Lender under
this Agreement; provided that in purchasing such participating interest, such Participant shall be deemed to have agreed
to share with the Lenders the proceeds thereof as provided in Section 11.8(a) as fully as if it were a Lender hereunder.
The Borrowers also agree that each Participant shall be entitled to the benefits of, and be bound by the obligations imposed on
the Lenders in, Sections 4.10, 4.11 and 4.14 with respect to its Participation in the Commitments or
the Dollar Working Capital Facility Uncommitted Tranche Portions, as applicable, and the Loans and other extensions of credit hereunder
outstanding from time to time as if it were a Lender (it being understood that the documentation required under Section 4.11(e)
shall be delivered to the participating Lender); provided, that no Participant shall be entitled to receive any greater
payments under Sections 4.10, 4.11 and 4.14, with respect to its participation, than its participating
Lender would have been entitled to receive, except to the extent such entitlement to receive a greater payment results from change
in Law that occurs after the Participant acquired the applicable participation and the Participant agrees to be subject to the
provisions of Section 4.17, as if it were an assignee under paragraph (c) of this Section. Each Lender that sells
a participation agrees to use reasonable efforts to cooperate with the Borrowers to effectuate the provisions of Section 4.17
with respect to any Participant. Each Lender that sells a participation shall, acting solely for this purpose as non-fiduciary
agent of the Borrowers, 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,
uncommitted tranche portions, 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, uncommitted tranche portion, 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.

 

    	-229-	 

     

    

 

(c)              
Any Lender may, in accordance with applicable Law, at any time and from time to time assign to any Lender or any Subsidiary,
Affiliate or Approved Fund thereof, or, with the consent of the Administrative Agent, and, in the case of an assignment of the
Acquisition Facility Commitments, the Acquisition Facility Issuing Lenders, and, in the case of an assignment of any Working Capital
Facility Commitment or any Dollar Working Capital Facility Uncommitted Tranche Portion, the Relevant Working Capital Facility Issuing
Lenders and the Relevant Swing Line Lenders, and, so long as no Event of Default has occurred and is continuing, the U.S. Borrower
(which consent shall not be unreasonably withheld or delayed), to any other Person (other than the U.S. Borrower or any of its
Subsidiaries or Affiliates, any natural person or any Defaulting Lender) (the “Assignee”), all or any part of
its rights and obligations under this Agreement and the other Loan Documents pursuant to an Assignment and Acceptance, substantially
in the form of Exhibit F, appropriately completed (an “Assignment and Acceptance”), executed by
such Assignee, such assigning Lender (and, in the case of an Assignee that is not then a Lender or any Subsidiary, Affiliate or
Approved Fund thereof, by the Administrative Agent, and, in the case of an assignment of the Acquisition Facility Commitments,
the Acquisition Facility Issuing Lenders, and, in the case of an Assignment of any Working Capital Facility Commitment or any Dollar
Working Capital Facility Uncommitted Tranche Portion, the Relevant Working Capital Facility Issuing Lenders and the Relevant Swing
Line Lenders, and, so long as no Event of Default has occurred and is continuing and the U.S. Borrower is not deemed to consent
to such assignment, the U.S. Borrower) and attaching the Assignee’s relevant tax forms, administrative details and wiring
instructions, and delivered to the Administrative Agent for its acceptance and recording in the Register; provided that
(i) each such assignment to an Assignee (other than any Lender) shall be in an aggregate principal amount of $5,000,000 or
a whole multiple of $1,000,000 in excess thereof (other than in the case of (A) an assignment of all of a Lender’s interests
under this Agreement or (B) an assignment to another Lender, a Subsidiary, an Affiliate or an Approved Fund of such assigning
Lender), unless otherwise agreed by the Administrative Agent and, so long as no Event of Default has occurred and is continuing,
the U.S. Borrower (such amount to be aggregated in respect of assignments by to any Lender and the affiliates or Approved Funds
thereof), (ii) in the case of an assignment by a Lender to a Bank CLO managed by such Lender or an affiliate of such Lender,
unless such assignment to such Bank CLO has been consented to by the Administrative Agent, and in the case of an assignment of
the Acquisition Facility Commitments, the Acquisition Facility Issuing Lenders, and, in the case of an Assignment of any Working
Capital Facility Commitment or any Dollar Working Capital Facility Uncommitted Tranche Portion, the Relevant Working Capital Facility
Issuing Lenders, and the Relevant Swing Line Lenders, and, so long as no Event of Default has occurred and is continuing and the
U.S. Borrower is not deemed to consent to such assignment, the U.S. Borrower (such consent not to be unreasonably withheld or delayed),
the assigning Lender shall retain the sole right to approve any amendment, waiver or other modification of this Agreement or any
other Loan Document; provided that the Assignment and Acceptance between such Lender and such Bank CLO may provide that
such Lender will not, without the consent of such Bank CLO, agree to any amendment, modification or waiver that requires the consent
of each Lender directly affected thereby pursuant to Section 11.2, and (iii) each Assignee shall comply with the
provisions of Section 4.11(e). Upon such execution, delivery, acceptance and recording, from and after the effective
date determined pursuant to such Assignment and Acceptance, (x) the Assignee thereunder shall be a party hereto and, to the
extent provided in such Assignment and Acceptance, have the rights and obligations of a Lender hereunder with Commitments or a
Dollar Working Capital Facility Uncommitted Tranche Portion, as applicable, as set forth therein, and (y) the assigning Lender
thereunder shall, to the extent provided in such Assignment and Acceptance, be released from its obligations under this Agreement
(and, in the case of an Assignment and Acceptance covering all or the remaining portion of an assigning Lender’s rights and
obligations under this Agreement, such assigning Lender shall cease to be a party hereto). Notwithstanding any provision of this
paragraph (c) and paragraph (e) of this Section 11.7, (x) the consent of the U.S. Borrower shall not
be required, and, unless requested by the Assignee and/or the assigning Lender, new Notes shall not be required to be executed
and delivered by the Borrowers, for any assignment which occurs at any time when any of the events described in Section 9.1(g)
shall have occurred and be continuing and (y) the U.S. Borrower shall be deemed to have consented to any assignment that requires
consent of the U.S. Borrower pursuant to the terms hereof unless it shall object thereto by written notice to the Administrative
Agent within five (5) Business Days after having received notice thereof. Any assignment or transfer by a Lender of rights
or obligations under this Agreement that does not comply with this Section 11.7 shall be treated for purposes of this
Agreement as a sale by such Lender of a Participation in such rights and obligations in accordance with Section 11.7(b).

 

    	-230-	 

     

    

 

(d)               The
Administrative Agent, on behalf of the Borrowers, shall maintain at the address of the Administrative Agent referred to in Section 11.2
a copy of each Assignment and Acceptance delivered to it and a register (the “Register”) for the recordation
of the names and addresses of the Lenders (including all Assignees and successors) and the Commitments of, Dollar Working Capital
Facility Uncommitted Tranche Portions of, and principal amounts (and stated interest) of the Loans and other Obligations owing
to, each Lender from time to time. The entries made in the Register shall, to the extent permitted by applicable Law, be prima
facie evidence of the existence and amounts of the obligations of the Borrowers therein recorded (absent manifest error), and
the Borrowers, the Administrative Agent and the Lenders may (and, in the case of any Loan or other Obligation hereunder not evidenced
by a Note, shall) treat each Person whose name is recorded in the Register as the owner of a Loan or other Obligation hereunder
as the owner thereof for all purposes of this Agreement and the other Loan Documents, notwithstanding any notice to the contrary;
provided, however, that the failure of the Administrative Agent to maintain the Register, or any error therein,
shall not in any manner affect the obligation of the Borrowers to repay (with applicable interest) the Loans and other extensions
of credit hereunder made to any Borrower by such Lender in accordance with the terms of this Agreement. Any assignment of any
Loan or other Obligation hereunder, whether or not evidenced by a Note, shall be effective only upon appropriate entries with
respect thereto being made in the Register. The Register shall be available for inspection by the Borrowers or any Lender at any
reasonable time and from time to time upon reasonable prior notice. The parties intend for the Loans or other Obligations to be
in registered form for tax purposes and this provision shall be construed in accordance with that intent.

 

(e)              
Upon its receipt of an Assignment and Acceptance executed by an assigning Lender and an Assignee (and, in the case of an
Assignee that is not then a Lender (or any Subsidiary, Affiliate or Approved Fund thereof), by the Administrative Agent, and, in
the case of an assignment of the Acquisition Facility Commitments, the Acquisition Facility Issuing Lenders, and, in the case of
an assignment of any Working Capital Facility Commitment or any Dollar Working Capital Facility Uncommitted Tranche Portion, the
Relevant Working Capital Facility Issuing Lenders and the Relevant Swing Line Lenders and, so long as no Event of Default has occurred
and is continuing and the U.S. Borrower is not deemed to consent to such assignment, the U.S. Borrower), together with payment
to the Administrative Agent by the assigning Lender of a registration and processing fee of $3,500, the Administrative Agent shall
(i) promptly accept such Assignment and Acceptance and (ii) on the effective date determined pursuant thereto record
the information contained therein in the applicable Register and give notice of such acceptance and recordation to the Lenders
and the U.S. Borrower.

 

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(f)                Each
Borrower authorizes each Lender to disclose to any Participant or Assignee (each, a “Transferee”) and any prospective
Transferee (so long as no Default or Event of Default has occurred and is continuing, other than an Ineligible Participant) in
each case, any and all financial information in such Lender’s possession concerning the Borrowers, the other Loan Parties
and their Subsidiaries and Affiliates which has been delivered to such Lender by or on behalf of any Borrower or the other Loan
Parties pursuant to this Agreement or which has been delivered to such Lender by or on behalf of any Borrower or other Loan Parties
in connection with such Lender’s credit evaluation of the Borrowers, the other the Loan Parties and their Subsidiaries or
Affiliates prior to becoming a party to this Agreement; provided that such Transferee or prospective Transferee shall have
agreed to be bound by the provisions of Section 11.16 hereof.

 

(g)               For
avoidance of doubt, the parties to this Agreement acknowledge that the provisions of this Section 11.7 concerning
assignments of Loans and other extensions of credit hereunder and Notes relate only to absolute assignments and that such provisions
do not prohibit assignments creating security interests, including (i) any pledge or assignment by a Lender of any Loan or
Note to any Federal Reserve Bank (including the Bank of Canada) or any central bank having jurisdiction over such Lender in accordance
with applicable Law and (ii) any pledge or assignment by a Lender which is a fund to its trustee for the benefit of such
trustee and/or its investors to secure its obligations under any indenture or Governing Documents to which it is a party; 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.

 

(h)               Notwithstanding
the foregoing, any Lender may, with notice to, but without consent of, any Borrower and the Administrative Agent, and in accordance
with the definition of “Conduit Lender” set forth in Section 1.1 hereof and the terms of this Section 11.7(h),
designate a Conduit Lender and fund any of the Loans or Unreimbursed Amounts which such Lender is obligated to make or pay hereunder
by causing such Conduit Lender to fund such Loans or Unreimbursed Amounts on behalf of such Lender. Any Conduit Lender may assign
any or all of the Loans or Unreimbursed Amounts it may have funded hereunder to its designating Lender without the consent of
any Borrower or the Administrative Agent and without regard to the limitations set forth in Section 11.7(c). Each
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, insolvency or similar Law in connection with any obligation of such Conduit Lender under
the Loan Documents, 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. In addition, notwithstanding the foregoing, any
Conduit Lender may (i) with notice to, but without the prior written consent of, any Borrower and the Administrative Agent
and without paying any processing fee therefor, assign all or a portion of its interests in any Loans or Reimbursement Obligations
to any financial institutions (consented to by the U.S. Borrower and the Administrative Agent) providing liquidity and/or credit
support to or for the account of such Conduit Lender to support the funding or maintenance of Loans or Reimbursement Obligations
by such Conduit Lender and (ii) disclose on a confidential basis any non-public information relating to its Loans and its
Reimbursement Obligations to any rating agency, commercial paper dealer or provider of any surety, guarantee or credit or liquidity
enhancement to such Conduit Lender. This clause (h) may not be amended without the written consent of any Conduit Lender
directly affected thereby.

 

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11.8             Adjustments;
Set-off. (a)  If any Lender (a “Benefited Lender”) shall at any time receive any payment of all
or part of its Loans or Reimbursement Obligations with regards to either Facility, or interest thereon, 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 9.1(g), or otherwise), in a greater proportion than any such payment to or collateral received by any
other Lender under such Facility, if any, in respect of such other Lender’s Loans or Reimbursement Obligations under such
Facility, or interest thereon, except to the extent specifically provided hereunder, such Benefited Lender shall purchase for
cash from the other Lenders under such Facility a participating interest in such portion of each such other Lender’s Loans
or Reimbursement Obligations under such Facility, or shall provide such other Lenders with the benefits of any such collateral,
or the proceeds thereof, as shall be necessary to cause such Benefited Lender to share the excess payment or benefits of such
collateral or proceeds ratably with each of the Lenders under such Facility; except that with respect to any Lender that is a
Defaulting Lender by virtue of such Lender failing to fund its Commitment Percentage or Dollar Working Capital Facility Uncommitted
Tranche Percentage of any Loan or Participation Obligation, such Defaulting Lender’s pro rata share of the excess
payment shall be allocated to the Lender (or the Lenders, pro rata) that funded such Defaulting Lender’s Commitment
Percentage or Dollar Working Capital Facility Uncommitted Tranche Percentage thereof; 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; provided
further, that to the extent prohibited by applicable law as described in the definition of “Excluded Swap Obligation,”
no amounts received from, or set off with respect to, any Loan Party shall be applied to any Excluded Swap Obligations of such
Loan Party. Each Borrower agrees that each Lender so purchasing a portion of another Lender’s Loans or Reimbursement Obligations
may exercise all rights of payment (including rights of set-off) with respect to such portion as fully as if such Lender were
the direct holder of such portion.

 

(b)              
In addition to any rights and remedies of the Lenders provided by Law, each Lender shall have the right, without prior notice
to any Borrower, any such notice being expressly waived by each Borrower to the extent permitted by applicable Law, during the
existence of an Event of Default, upon any amount becoming due and payable by any Borrower hereunder (whether at the stated 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 the applicable Borrower; provided, that in the event that
any Defaulting Lender shall exercise any such right of setoff hereunder or under any other Loan Document, (i) all amounts so set
off shall be paid over immediately to the Administrative Agent for further application in accordance with Section 4.18 and,
pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit
of the Administrative Agent and the Secured Parties, and (ii) such Defaulting Lender shall provide promptly to the Administrative
Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such
right of setoff. Each Lender agrees to promptly notify the U.S. Borrower and the Administrative Agent after any such set-off and
application made by such Lender; provided that the failure to give such notice shall not affect the validity of such set-off
or application.

 

11.9            
Counterparts. This Agreement may be executed by one or more of the parties to this Agreement on any number of separate
counterparts (including by facsimile transmission or electronic mail transmission in portable document format of signature pages
hereto), 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 by facsimile transmission or by electronic mail in portable document format shall be
effective as delivery of a manually executed counterpart hereof. The words “execution,” “signed,” “signature,”
and words of like import in this Agreement and the other Loan Documents shall be deemed to include electronic signatures, each
of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based
recordkeeping system, as the case may be, to the extent and as provided for in any applicable Law, including the Federal Electronic
Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar
state laws based on the Uniform Electronic Transactions Act. A set of the copies of this Agreement signed by all the parties
shall be lodged with the U.S. Borrower and the Administrative Agent.

 

11.10           Severability. Any provision of this Agreement which 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.

 

11.11          Integration. This Agreement and the other Loan Documents represent the agreement of the parties hereto with respect
to the subject matter hereof, and there are no promises, undertakings, representations or warranties relative to subject matter
hereof not expressly set forth or referred to herein or in the other Loan Documents.

 

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11.12          Governing Law. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED
AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

 

11.13          Submission to Jurisdiction; Waiver of Certain Damages. Each Loan Party and, solely with respect to clause (e),
each other party hereto, 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, the courts of the United States of America 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 the Loan Parties as the case may be, at their
address set forth in Section 11.2 or at such other address of which the Administrative Agent shall have been notified
pursuant thereto;

 

(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)              
without limiting the obligations of each Borrower under Section 11.6 or the obligations of any other Loan Party pursuant
to Section 18 of the U.S. Security Agreement, Section 18 of the Canadian Security Agreement or Section 2(c) of the Guarantee, waives,
to the maximum extent not prohibited by Law, any right it may have to claim or recover in any legal action or proceeding any special,
exemplary, punitive or consequential damages; provided, that nothing contained in this clause (e) shall limit the
indemnifying party’s indemnification obligations to the extent set forth herein or in any other Loan Document to the extent
such special, indirect, consequential or punitive damages are included in any third party claim in connection with which such indemnified
person is entitled to indemnification hereunder.

 

11.14          
Acknowledgements. Each Loan Party 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 the Administrative Agent nor any Lender has any fiduciary relationship with or duty to the Loan Parties arising
out of or in connection with this Agreement or any of the other Loan Documents, and the relationship between the Borrowers and
the other Loan Parties, on one hand, and the Administrative Agent and Lenders, on the other hand, in connection herewith or therewith
is solely that of debtor and creditor; and

 

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(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 Lenders or among the Loan Parties and the Lenders.

 

11.15           Waivers
of Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION
OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN.

 

11.16           Confidentiality.
(a)  Each Lender Party shall use its best efforts to (i) keep confidential (and shall cause its directors, officers,
employees, representatives, agents, professional advisors or auditors (collectively, “Representatives”) to
keep confidential) all information that such Lender Party receives from or on behalf of the Loan Parties other than information
that is identified by any of the Loan Parties as being non-confidential information (all such information that is not so identified
being “Confidential Information”); provided that nothing in this Section 11.16 shall prevent any
Lender Party from (A) disclosing, subject to the terms and requirements of this Section 11.16, such information
to a Subsidiary or an Affiliate or its or their Representatives provided that such Subsidiary, Affiliate, or Representatives,
as applicable, have been advised of the confidential nature, and restrictions on use, of such Confidential Information set forth
in this Section 11.16, (B) disclosing Confidential Information in connection with the exercise of any remedy
hereunder, (C) using Confidential Information solely for purposes of evaluating and administering the Loans and the Loan
Documents, (D) disclosing Confidential Information to a Participant, an Assignee or a potential Transferee, in each case
in accordance with Section 11.7(f), (E) subject to an agreement containing provisions substantially the same as (or
no less restrictive than) those of this Section, disclosing Confidential Information to (i) any actual or prospective party (or
its Representatives) to any swap, derivative or other transaction under which payments are to be made by reference to the Borrowers
and their obligations, this Agreement or payments hereunder or (ii) any credit insurance provider with respect to any Borrower
and its obligations or (F) to the National Association of Insurance Commissioners, any title or credit insurance company
or any similar organizations; provided further that Confidential Information shall not include information pertaining to
this Agreement routinely provided by arrangers to data service providers, including league table providers, that serve the lending
industry and (ii) subject to Section 11.16(d), not disclose Confidential Information to Representatives of its
Trading Business. Any Person required to maintain the confidentiality of Confidential Information as provided in this Section 11.16
shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to
maintain the confidentiality of such Confidential Information as such Person would accord to its own confidential information.

 

(b)               Notwithstanding
anything in this Section 11.16 to the contrary, any Confidential Information may be disclosed by any Lender Party
or any Representative (the affected Lender Party or Representative being the “Disclosing Party”) if the Disclosing
Party is compelled by judicial process or is required by Law or regulation or is requested to do so by any examiner or any other
regulatory authority or recognized self-regulatory organization including the New York Stock Exchange, the Federal Reserve Board,
the New York State Banking Department and the Securities & Exchange Commission, in each case having or asserting jurisdiction
over the Disclosing Party.

 

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(c)              
The obligations of each Lender Party and its Representatives under this Section 11.16 with respect to Confidential
Information shall not apply to (i) any Confidential Information which, as of the date of disclosure by such Lender Party or
its Representatives, is in the public domain or subsequently comes into the public domain other than as a result of a breach of
the obligations of such Lender Party or its Representatives hereunder, or (ii) any Confidential Information that was or becomes
available to such Lender Party or its Representatives from a person or source that is or was not, to the knowledge of such Lender
Party or its Representatives, bound by a confidentiality agreement with any Loan Party or otherwise prohibited from transferring
such information to any other Person, or (iii) any Confidential Information which was or becomes available to such Lender
Party or its Representatives without any obligation of confidentiality prior to its disclosure by or on behalf of the Loan Parties
or (iv) any Confidential Information that was developed by such Lender Party or its Representative without the use of information
provided by any Loan Party.

 

(d)              
Notwithstanding anything herein to the contrary, any Lender Party may disclose Confidential Information to those Representatives
of its Trading Business, solely to the extent (i) such disclosure is (A) advisable, in the good faith discretion of such
Lender Party, to assist such Lender Party in protecting and enforcing its rights under any Loan Document and other credit facilities
which such Lender Party or any of its Subsidiaries or Affiliates has with the applicable Loan Party (or any of its Subsidiaries
or Affiliates) and (B) relevant to such assistance, (ii) such Representatives have been advised of, and agree to, the
confidential nature, and restrictions on use, of such Confidential Information and need to know same in connection with providing
such assistance, and (iii) such Confidential Information is not used for any purpose other than that set forth in this Section 11.16.

 

(e)              
Each of the Lender Parties acknowledges that (a) the Confidential Information may include material non-public information
concerning the Loan Parties and their related parties or their respective securities, (b) it has developed compliance procedures
regarding the use of material non-public information and (c) it will handle such material non-public information in accordance
with applicable Law, including United States Federal and state securities Laws and Canadian securities laws.

 

11.17           Specified Laws. Each Lender and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies
the Borrowers that pursuant to the requirements of the Specified Laws, it is required to obtain, verify and record information
that identifies the Loan Parties, which information includes the names and addresses of the Loan Parties and other information
that will allow such Lender or the Administrative Agent, as applicable, to identify the Loan Parties in accordance with the Specified
Laws.

 

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11.18           No Fiduciary Duty, etc. Each Borrower acknowledges and agrees, and acknowledges its Subsidiaries’ understanding,
that no Lender Party will have any obligations except those obligations expressly set forth herein and in the other Loan Documents
and each Lender Party is acting solely in the capacity of an arm’s length contractual counterparty to such Borrower with
respect to the Loan Documents and the transaction contemplated therein and not as a financial advisor or a fiduciary to, or an
agent of, such Borrower or any other Person. Each Borrower agrees that it will not assert any claim against any Lender Party based
on an alleged breach of fiduciary duty by such Lender Party in connection with this Agreement and the transactions contemplated
hereby. Additionally, each Borrower acknowledges and agrees that no Lender Party is advising such Borrower as to any legal, tax,
investment, accounting, regulatory or any other matters in any jurisdiction. Each Borrower shall consult with its own advisors
concerning such matters and shall be responsible for making its own independent investigation and appraisal of the transactions
contemplated hereby, and the Lender Parties shall have no responsibility or liability to the Borrowers with respect thereto.

 

Each Borrower further
acknowledges and agrees, and acknowledges its Subsidiaries’ understanding, that each Lender Party is a full service securities
or banking firm engaged in securities trading and brokerage activities as well as providing investment banking and other financial
services. In the ordinary course of business, any Lender Party may provide investment banking and other financial services to,
and/or acquire, hold or sell, for its own accounts and the accounts of customers, equity, debt and other securities and financial
instruments (including bank loans and other obligations) of, the Borrowers and other companies with which the Borrowers may have
commercial or other relationships. With respect to any securities and/or financial instruments so held by any Lender Party or any
of its customers, all rights in respect of such securities and financial instruments, including any voting rights, will be exercised
by the holder of the rights, in its sole discretion.

 

In addition, each Borrower
acknowledges and agrees, and acknowledges its Subsidiaries’ understanding, that each Lender Party and its affiliates may
be providing debt financing, equity capital or other services (including financial advisory services) to other companies in respect
of which the Borrowers and/or their Subsidiaries may have conflicting interests regarding the transactions described herein and
otherwise. No Lender Party will use confidential information obtained from the Borrowers by virtue of the transactions contemplated
by the Loan Documents or its other relationships with the Borrowers in connection with the performance by such Lender Party of
services for other companies, and no Lender Party will furnish any such information to other companies. Each Borrower also acknowledges
that no Lender Party has any obligation to use in connection with the transactions contemplated by the Loan Documents, or to furnish
to the Borrowers, confidential information obtained from other companies.

 

11.19           Additional
Borrowers. At any time and from time-to-time after the Restatement Effective Date, the U.S. Borrower may request that any
of its Subsidiaries (other than an Exempt CFC or a direct or indirect Subsidiary of an Exempt CFC) become a borrower under this
Agreement (each Subsidiary which becomes a borrower pursuant to the terms of this Section 11.19, an “Additional
Borrower”). Such Subsidiary shall become an Additional Borrower with effect on and from the date on which the Administrative
Agent notifies the U.S. Borrower that each of the following has been satisfied (which date shall be within ten (10) Business Days
after each Lender has received the documents referred to in Section 11.19(e):

 

(a)               
the Administrative Agent receives a duly completed and executed Joinder Agreement, substantially in the form of Exhibit U;

 

(b)               
each Lender has approved of such Additional Borrower;

 

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(c)              
the U.S. Borrower confirms that no Default or Event of Default is continuing or would occur as a result of that Subsidiary
becoming an Additional Borrower and each of the representations and warranties relating to the Additional Borrower and the Loan
Parties (other than the representations and warranties set forth in 5.1, 5.4, 5.6, 5.7, 5.17
and 5.20) is true and not misleading in any material respect (except that any representation and warranty that is qualified
by “materiality” or “Material Adverse Effect” shall be true and correct in all respects as so qualified)
as if made on date of accession of Additional Borrower;

 

(d)              
the Subsidiary is incorporated, organized or formed in the United States of America, Canada or another jurisdiction approved
by the Supermajority Lenders;

 

(e)              
the Administrative Agent has received all of the documents and other evidence referred to in Section 6.1(b)
and Sections 6.1(d) through 6.1(g) in relation to that Additional Borrower together with a legal opinion in
respect of the Additional Borrower from a law firm qualified to issue legal opinions with respect to the jurisdiction of incorporation,
organization or formation and (with respect to any Additional Borrower organized under the laws of any jurisdiction of Canada)
the jurisdiction of the chief executive office and domicile (within the meaning of the Civil Code of Quebec) and each jurisdiction
in which material tangible assets are located, each in form and substance reasonably satisfactory to the Administrative Agent;

 

(f)              
the Administrative Agent shall have received the results of a recent search by a Person reasonably satisfactory to the Administrative
Agent, of the UCC and PPSA and Civil Code of Quebec (if relevant), judgment and tax Lien filings, and all customary searches for
financing transactions of this nature in all applicable jurisdictions, which may have been filed with respect to personal property
of such Additional Borrower, and the results of such search shall be reasonably satisfactory to the Administrative Agent;

 

(g)              
the Administrative Agent and each Lender shall have received copies of a collateral and risk management review (the “Additional
Borrower Collateral Risk Review”), in form and substance satisfactory to the Administrative Agent, of all of the assets
of such Additional Borrower that would comprise each asset category set forth in the definition of “U.S. Borrowing Base”
or “Kildair Borrowing Base”, as applicable, prepared by Administrative Agent’s internal or external collateral
and risk manager; provided, however, that (i) the Additional Borrower Collateral Risk Review shall be completed (or in the
event it is not completed, be deemed completed) by a date no later than the date twenty-one (21) calendar days following the U.S.
Borrower’s request that a Subsidiary become an Additional Borrower, which such request may not be made more than sixty (60)
calendar days prior to the date such Subsidiary shall become an Additional Borrower and (ii) prior to the completion of the
Additional Borrower Collateral Risk Review, the Administrative Agent may, in its sole discretion, count the assets of such Additional
Borrower in the calculation of the U.S. Borrowing Base or Kildair Borrowing Base, as applicable;

 

(h)             
the Administrative Agent shall have received evidence in form and substance reasonably satisfactory to it that all of the
requirements of Section 7.5 hereof, Section 5(q) of the U.S. Security Agreement and Section 5(p) of the Canadian
Security Agreement, in each case to the extent applicable, shall have been satisfied with respect to such Additional Borrower;

 

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(i)               
each Lender shall have received all of the documents referred to in Section 6.1(y) with respect to that Additional
Borrower and has confirmed to the Administrative Agent that such documents are in form and substance reasonably satisfactory to
such Lender;

 

(j)               
such Additional Borrower becomes a Grantor; and

 

(k)              
such Additional Borrower appoints the U.S. Borrower to act on its behalf as the agent for such Additional Borrower hereunder
and under the other Loan Documents and authorizes the U.S. Borrower to take such actions on its behalf and to exercise such powers
as are delegated to the U.S. Borrower by the terms hereof or thereof, together with such actions and powers as are reasonably incidental
thereto, and the U.S. Borrower accepts such appointment (which appointment shall not be terminated or revoked without the consent
of the Administrative Agent and the Required Lenders).

 

The Administrative Agent,
the Borrowers and any Additional Borrowers shall be permitted to amend this Agreement and the other Loan Documents solely as necessary
or advisable to permit the Additional Borrower to borrow hereunder and as otherwise required or advisable in connection therewith.

 

11.20     
Joint and Several Liability. (a) All Loans, upon funding, shall be deemed to be jointly funded to and received
by the Borrower Parties, (b) each Borrower Party jointly and severally agrees to pay, and shall be jointly and severally liable
under this Agreement for, all Obligations, regardless of the manner or amount in which proceeds of Loans are used, allocated, shared,
or disbursed by or among the Borrower Parties themselves, or the manner in which the Administrative Agent and/or any Lender accounts
for such Loans or other extensions of credit on its books and records, (c) each Borrower Party shall be liable for all amounts
due to the Administrative Agent and/or any Lender under this Agreement, regardless of which Borrower Party actually receives Loans
or other Extensions of Credit hereunder or the amount of such Loans and Extensions of Credit received or the manner in which the
Administrative Agent and/or such Lender accounts for such Loans or other Extensions of Credit on its books and records, and (d) each
Borrower Party’s Obligations with respect to Loans and other Extensions of Credit made to it, and such Borrower Party’s
Obligations arising as a result of the joint and several liability of such Borrower Party hereunder, with respect to Loans and
other Extensions of Credit made to the other Borrower Parties hereunder, shall be separate and distinct obligations, but all such
Obligations shall be primary obligations of such Borrower Party. The Borrower Parties acknowledge and expressly agree with the
Administrative Agent and each Lender that the joint and several liability of each Borrower Party is required solely as a condition
to, and is given solely as inducement for and in consideration of, credit or accommodations extended or to be extended under the
Loan Documents to any or all of the other Borrower Parties and is not required or given as a condition of Extensions of Credit
to such Borrower Party. Each Borrower Party’s obligations under this Agreement shall be separate and distinct obligations.
Each Borrower Party’s obligations under this Agreement shall, to the fullest extent permitted by Law, be unconditional irrespective
of (i) the validity or enforceability, avoidance, or subordination of the Obligations of any other Borrower Party or of any
Note or other document evidencing all or any part of the Obligations of any other Borrower Party, (ii) the absence of any
attempt to collect the Obligations from any other Borrower Party, any other Loan Party, or any other security therefor, or the
absence of any other action to enforce the same, (iii) the waiver, consent, extension, forbearance, or granting of any indulgence
by the Administrative Agent and/or any Lender with respect to any provision of any instrument evidencing the Obligations of any
other Borrower Party or any other Loan Party, or any part thereof, or any other agreement now or hereafter executed by any other
Borrower Party or any other Loan Party and delivered to the Administrative Agent and/or any Lender, (iv) the failure by the
Administrative Agent and/or any Lender to take any steps to perfect and maintain its security interest in, or to preserve its rights
to, any security or collateral for the Obligations of any other Borrower Party or any other Loan Party, (v) the Administrative
Agent’s and/or any Lender’s election, in any proceeding instituted under the Bankruptcy Code or Insolvency Laws, of
the application of Section 1111(b)(2) of the Bankruptcy Code or corresponding provisions of Insolvency Laws, (vi) any
borrowing or grant of a security interest by any other Borrower Party, as debtor-in-possession under Section 364 of the Bankruptcy
Code or under Insolvency Laws, (vii) the disallowance of all or any portion of the Administrative Agent’s and/or any
Lender’s claim(s) for the repayment of the Obligations of any other Borrower Party under Section 502 of the Bankruptcy
Code or under Insolvency Laws, or (viii) any other circumstances which might constitute a legal or equitable discharge or
defense of a guarantor or of any other Borrower Party. With respect to any Borrower Party’s Obligations arising as a result
of the joint and several liability of the Borrower Parties hereunder with respect to Loans or other Extensions of Credit made to
any of the other Borrower Parties hereunder, such Borrower Party waives, until the Obligations shall have been paid in full and
this Agreement shall have been terminated, any right to enforce any right of subrogation or any remedy which the Administrative
Agent and/or any Lender now has or may hereafter have against any other Borrower Party, any endorser or any guarantor of all or
any part of the Obligations, and any benefit of, and any right to participate in, any security or collateral given to the Administrative
Agent and/or any Lender to secure payment of the Obligations or any other liability of any Borrower Party to the Administrative
Agent and/or any Lender. Upon any Event of Default, the Administrative Agent may proceed directly and at once, without notice,
against any Borrower Party to collect and recover the full amount, or any portion of the Obligations, without first proceeding
against any other Borrower Party or any other Person, or against any security or collateral for the Obligations. Each Borrower
Party consents and agrees that the Administrative Agent shall be under no obligation to marshal any assets in favor of any Borrower
Party or against or in payment of any or all of the Obligations. Each Borrower Party further acknowledges that credit extended
to each Borrower Party hereunder will directly or indirectly benefit each other Borrower Party.

 

    	-239-	 

     

    

 

11.21    
Contribution and Indemnification among the Borrower Parties; Subordination. Each Borrower Party is obligated to repay
the Obligations as joint and several obligor under this Agreement. To the extent that any Borrower Party shall, under this Agreement
as a joint and several obligor, repay any of the Obligations constituting Loans made to another Borrower Party hereunder or other
Obligations incurred directly and primarily by any other Borrower Party (an “Accommodation Payment”), then the
Borrower Party making such Accommodation Payment shall be entitled to contribution and indemnification from, and be reimbursed
by, each of the other Borrower Parties in an amount, for each of such other Borrower Parties, equal to a fraction of such Accommodation
Payment, the numerator of which fraction is such other Borrower Party’s Allocable Amount (as defined below) and the denominator
of which is the sum of the Allocable Amounts of all of the Borrower Parties. As of any date of determination, the “Allocable
Amount” of each Borrower Party shall be equal to the maximum amount of liability for Accommodation Payments which could be
asserted against such Borrower Party hereunder without (a) rendering such Borrower Party “insolvent” within the
meaning of Section 101(31) of the Bankruptcy Code, Section 2 of the Uniform Fraudulent Transfer Act (“UFTA”)
or Section 2 of the Uniform Fraudulent Conveyance Act (“UFCA”), (b) leaving such Borrower Party with
unreasonably small capital or assets, within the meaning of Section 548 of the Bankruptcy Code, Section 4 of the UFTA,
or Section 5 of the UFCA, or (c) leaving such Borrower Party unable to pay its debts as they become due within the meaning
of Section 548 of the Bankruptcy Code or Section 4 of the UFTA, or Section 5 of the UFCA. All rights and claims
of contribution, indemnification, and reimbursement under this Section 11.21 shall be subordinate in right of payment
to the prior payment in full of the Obligations. The provisions of this Section 11.21 shall, to the extent expressly
inconsistent with any provision in any Loan Document, supersede such inconsistent provision.

 

    	-240-	 

     

    

 

11.22    
Express Waivers by Borrower Parties in Respect of Cross Guaranties
and Cross Collateralization. To the extent permitted under applicable law, each Borrower Party agrees as follows:

 

(a)              
Each Borrower Party hereby waives: (i) notice of acceptance of this Agreement; (ii) notice of the making of any
Loans, the issuance of any Letter of Credit or any other financial accommodations made or extended under the Loan Documents or
the creation or existence of any Obligations; (iii) notice of the amount of the Obligations, subject, however, to such Borrower
Party’s right to make inquiry of the Administrative Agent to ascertain the amount of the Obligations at any reasonable time;
(iv) notice of any adverse change in the financial condition of any other Borrower Party or of any other fact that might
increase such Borrower Party’s risk with respect to such other Borrower Party under the Loan Documents; (v) notice
of presentment for payment, demand, protest, and notice thereof as to any promissory notes or other instruments among the Loan
Documents; and (vi) all other notices (except if such notice is specifically required to be given to such Borrower Party
hereunder or under any of the other Loan Documents to which such Borrower Party is a party) and demands to which such Borrower
Party might otherwise be entitled.

 

(b)              
Each Borrower Party hereby waives the right by statute or otherwise to require the Administrative Agent or any other Secured
Party to institute suit against any other Borrower Party or to exhaust any rights and remedies which the Administrative Agent or
any other Secured Party has or may have against any other Borrower Party. Each Borrower Party further waives any defense arising
by reason of any disability or other defense of any other Borrower Party (other than the defense that the Obligations shall have
been fully and finally performed and paid) or by reason of the cessation from any cause whatsoever of the liability of any such
Borrower Party in respect thereof.

 

(c)              
Each Borrower Party hereby waives and agrees not to assert against the Administrative Agent or any Lender: (i) any
defense (legal or equitable), set-off, counterclaim, or claim which such Borrower Party may now or at any time hereafter have against
any other Borrower Party or any other party liable under the Loan Documents; (ii) any defense, set-off, counterclaim, or claim
of any kind or nature available to any other Borrower Party against the Administrative Agent or any Lender, arising directly or
indirectly from the present or future lack of perfection, sufficiency, validity, or enforceability of the Obligations or any security
therefor; (iii) any right or defense arising by reason of any claim or defense based upon an election of remedies by the Administrative
Agent or any Lender under any applicable law; and (iv) the benefit of any statute of limitations affecting any other Borrower
Party’s liability hereunder.

 

    	-241-	 

     

    

 

(d)              
Each Borrower Party consents and agrees that, without notice to or by such Borrower Party and without affecting or impairing
the obligations of such Borrower Party hereunder, the Administrative Agent may (subject to any requirement for consent of any
of the Lenders to the extent required by this Agreement), by action or inaction: (i) compromise, settle, extend the duration
or the time for the payment of, or discharge the performance of, or may refuse to or otherwise not enforce the Loan Documents;
(ii) release all or any one or more parties to any one or more of the Loan Documents or grant other indulgences to any other
Borrower Party in respect thereof; (iii) amend or modify in any manner and at any time (or from time to time) any of the
Loan Documents; or (iv) release or substitute any Person liable for payment of the Obligations, or enforce, exchange, release,
or waive any security for the Obligations or any Guarantee of the Obligations.

 

(e)              
Each Borrower Party represents and warrants to the Administrative Agent and the Lenders that, as of the date of entry of
any Additional Borrower into this Agreement, such Borrower Party is currently informed of the financial condition of all other
Borrower Parties and all other circumstances which a diligent inquiry would reveal and which bear upon the risk of nonpayment of
the Obligations. Each Borrower Party further represents and warrants that, as of the date of entry of such Borrower Party into
this Agreement, such Borrower Party has read and understands the terms and conditions of the Loan Documents. Each Borrower Party
agrees that neither the Administrative Agent nor any Lender has any responsibility to inform any Borrower Party of the financial
condition of any other Borrower Party or of any other circumstances which bear upon the risk of nonpayment or nonperformance of
the Obligations.

 

11.23     
Limitation on Obligations of Borrower Parties. In the event that in any action or proceeding involving any state,
federal provincial, territorial or foreign corporate law, or any state, federal, provincial, territorial or foreign bankruptcy,
insolvency, reorganization or other Law affecting the rights of creditors generally, the obligations of any Borrower Party, including
for the obligations of any other Borrower Party, under this Agreement shall be held or determined to be void, avoidable, invalid
or unenforceable (including because of Section 548 of the Bankruptcy Code or any applicable Insolvency Laws or any applicable
state, provincial, territorial or federal Law relating to fraudulent conveyances or transfers, preferences or transfers at an undervalue),
then, notwithstanding any other provision of this Agreement to the contrary, the amount of such liability of a Borrower Party shall,
without any further action by any Loan Party, the Administrative Agent or any Lender, be automatically limited and reduced to the
highest amount that is valid and enforceable (such highest amount determined hereunder being the relevant Borrower’s “Maximum
Liability”); provided that nothing contained in this Section 11.23 shall limit the liability of any Borrower
Party to repay Loans made directly or indirectly to or for the benefit of that Borrower Party or any Subsidiary of that Borrower
Party (including Loans advanced to any other Borrower Party and then re-loaned or otherwise transferred to, or for the benefit
of, such Borrower Party or any of its Subsidiaries), Obligations relating to Letters of Credit issued for the direct or indirect
benefit of such Borrower Party or any of its Subsidiaries, and all interest, fees, expenses and other related Obligations under
the Loan Documents with respect thereto, for which such Borrower Party shall be primarily liable for all purposes hereunder. This
Section 11.23 with respect to the Maximum Liability of each Borrower Party is intended solely to preserve the rights
of the Administrative Agent and the Lenders to the maximum extent not subject to avoidance under applicable Law, and no Loan Party
nor any other person or entity shall have any right or claim under this Section 11.23 with respect to such Maximum
Liability, except to the extent necessary so that the obligations of any Borrower Party hereunder shall not be rendered void, voidable,
invalid or unenforceable under applicable Law.

 

    	-242-	 

     

    

 

11.24    
Keepwell. Each Qualified ECP Guarantor hereby jointly and severally absolutely, unconditionally and irrevocably
undertakes to provide such funds or other support as may be needed from time to time by each other Loan Party to honor all of
its obligations under this Agreement or any other Loan Document in respect of Swap Obligations; provided, however, that
in the event that in any action or proceeding involving any state, federal, provincial, territorial or foreign corporate law,
or any state, federal, provincial, territorial or foreign bankruptcy, insolvency, reorganization or other Law affecting the rights
of creditors generally, the obligations of any Qualified ECP Guarantor under this Section 11.24 shall be held or determined
to be void, avoidable, invalid or unenforceable (including because of Section 548 of the Bankruptcy Code or any applicable
Insolvency Laws or any applicable state, provincial, territorial or federal Law relating to fraudulent conveyances or transfers,
preferences or transfers at an undervalue), then, notwithstanding any other provision of this Section 11.24 to the
contrary, the amount of such liability of such Qualified ECP Guarantor under this Section 11.24 shall, without any
further action by any Loan Party, the Administrative Agent or any Secured Party, be automatically limited and reduced to the highest
amount that is valid and enforceable. The obligations of each Qualified ECP Guarantor under this Section 11.24 shall
remain in full force and effect until the termination of the Commitments and Dollar Working Capital Facility Uncommitted Tranche
Portions and payment in full of the Loans and all other Obligations. Each Qualified ECP Guarantor intends that this Section 11.24
constitute, and this Section 11.24 shall be deemed to constitute, a “keepwell, support, or other agreement”
for the benefit of each other Loan Party for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

 

11.25     
Judgment Currency. (a)  The Loan Parties’ obligations hereunder and under the other Loan Documents
to make payments in United States Dollars or Canadian Dollars, as applicable, shall not be discharged or satisfied by any tender
or recovery pursuant to any judgment expressed in or converted into any currency other than United States Dollars or Canadian Dollars,
as applicable, except to the extent that such tender or recovery results in the effective receipt by the Administrative Agent or
the respective Lender or Issuing Lender of the full amount of United States Dollars or Canadian Dollars, as applicable, expressed
to be payable to the Administrative Agent or such Lender or Issuing Lender under this Agreement or the other Loan Documents. If,
for the purpose of obtaining or enforcing judgment against any Loan Party in any court or in any jurisdiction, it becomes necessary
to convert into or from any currency other than United States Dollars or Canadian Dollars, as applicable, (such other currency
being hereinafter referred to as the “Judgment Currency”) an amount due in United States Dollars or Canadian
Dollars, as applicable, the conversion shall be made at the Dollar Equivalent or Canadian Dollar Equivalent, as applicable, determined
as of the Business Day immediately preceding the day on which the judgment is given (such Business Day being hereinafter referred
to as the “Judgment Currency Conversion Date”).

 

    	-243-	 

     

    

 

(b)              
If there is a change in the rate of exchange prevailing between the Judgment Currency Conversion Date and the date of actual
payment of the amount due, the Loan Parties shall pay, or cause to be paid, such additional amounts, if any (but in any event not
a lesser amount) as may be necessary to ensure that the amount paid in the Judgment Currency, when converted at the rate of exchange
prevailing on the date of payment, will produce the amount of United States Dollars or Canadian Dollars, as applicable, which could
have been purchased with the amount of Judgment Currency stipulated in the judgment or judicial award at the rate of exchange prevailing
on the Judgment Currency Conversion Date.

 

(c)             
For purposes of determining the Dollar Equivalent or Canadian Dollar Equivalent or any other rate of exchange for this Section 11.25,
such amounts shall include any premium and costs payable in connection with the purchase of United States Dollars or Canadian Dollars,
as applicable.

 

11.26      English Language. The parties hereto confirm that it is their wish that this Agreement and any other document executed
in connection with the transactions contemplated herein be drawn up in the English language only and that all other documents contemplated
thereunder or relating thereto, including notices, may also be drawn up in the English language only. Les parties aux présentes
confirment que c’est leur volonté que cette convention et les autres documents de crédit y afférents
soient rédigés en anglais seulement et que tous les documents, y compris tous avis, envisagés par cette convention
soient rédigés en anglais seulement.

 

11.27     
Effect of Amendment and Restatement. On the Restatement Effective Date, the Existing Credit Agreement shall be amended,
restated and superseded in its entirety by this Agreement. The parties hereto acknowledge and agree that (a) this Agreement and
other Loan Documents, whether executed and delivered in connection herewith or otherwise, do not constitute a novation, payment
or reborrowing, or termination of the Obligations under the Existing Credit Agreement as in effect prior to the Restatement Effective
Date and (b) such Obligations are in all respects continuing (as amended and restated hereby) with only the terms thereof being
modified as provided in this Agreement. Each Loan Party hereby reaffirms its duties and obligations under each Loan Document to
which it is a party including any Lien granted therein (such reaffirmation is solely for the convenience of the parties hereto
and is not required by the terms of the Existing Credit Agreement). Each reference to this Agreement in any Loan Document shall
be deemed to be a reference to this Agreement as amended and restated hereby.

 

11.28     
Acknowledgement and Consent to Bail-In of Affected Financial Institutions. Notwithstanding anything to the contrary
in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges
that any liability of any Affected Financial Institution arising under any Loan Document, to the extent such liability is unsecured,
may be subject to the write-down and conversion powers of the applicable Resolution Authority and agrees and consents to, and acknowledges
and agrees to be bound by:

 

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

 

    	-244-	 

     

    

 

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

 

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

 

(ii)         
a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such Affected Financial
Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such
shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under
this Agreement or any other Loan Document; or

 

(iii)        
the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of
the applicable Resolution Authority.

 

11.29     
Acknowledgement Regarding Any Supported QFCs. To the extent
that the Loan Documents provide support, through a guarantee or otherwise, for Financial Hedging Agreements, Commodity OTC Agreements,
Swaps or any other agreement or instrument that is a QFC (such support, “QFC Credit Support” and each such QFC
a “Supported QFC”), the parties acknowledge and agree as follows with respect to the resolution power of the
Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform
and Consumer Protection Act (together with the regulations promulgated thereunder, the “U.S. Special Resolution Regimes”)
in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Loan Documents
and any Supported QFC may in fact be stated to be governed by the laws of the State of New York and/or of the United States or
any other state of the United States):

 

(a)         
In the event a Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject
to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support
(and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing
such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would
be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest,
obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event
a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime,
Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be
exercised against such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised
under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States
or a state of the United States. Without limitation of the foregoing, it is understood and agreed that the rights and remedies
of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a Supported
QFC or any QFC Credit Support.

 

(b)         
As used in this Section 11.29, the following terms have the following meanings:

 

    	-245-	 

     

    

 

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

 

“Covered Entity” means
any of the following:

 

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

 

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

 

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

 

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

 

“QFC” has the meaning assigned
to the term “qualified financial contract” in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D).

 

11.30     
Approved Organizational Changes. The MLP may (i) convert from a Delaware limited partnership to a Delaware limited
liability company and (ii) change its name in connection with such conversion (such changes in clauses (i) and (ii), the “Approved
Organizational Changes”), in each case, subject to the satisfaction of the following conditions:

 

(a)              
Notice. The MLP has given the Administrative Agent at least thirty (30) days prior written notice of such change;

 

(b)              
Loan Documents. The MLP shall have executed and delivered to the Administrative Agent such security agreements, pledges,
financing statements or amendments thereto or other documents, or additional or supplemental documents or amendments to the Loan
Documents, in each case as shall be deemed necessary or appropriate by the Administrative Agent in its reasonable discretion, including:

 

(i)       
a reaffirmation of each applicable Loan Document, each in form and substance reasonably satisfactory to the Administrative
Agent, executed and delivered by a duly authorized officer of the MLP and each other party thereto; and

 

(ii)      
a tripartite acknowledgment of conversion and name change for each Controlled Account of the MLP (if any), in form and substance
reasonably satisfactory to the Administrative Agent, executed and delivered by a duly authorized officer of the MLP and each other
party thereto;

(c)              
Legal Opinions. The Administrative Agent shall have received legal opinions with respect to such change and the effect
thereof covering the applicable subject matter, each in form and substance reasonably satisfactory to the Administrative Agent;

 

(d)              
Lien Searches. The Administrative Agent shall have received the results of a recent search by a Person reasonably
satisfactory to the Administrative Agent of the Uniform Commercial Code, judgment and tax Lien filings, and all customary searches
for financing transactions of this nature in all applicable jurisdictions, which may have been filed with respect to personal property
of the MLP and the results of such search shall be reasonably satisfactory to the Administrative Agent;

 

    	-246-	 

     

    

 

(e)              
Actions to Perfect Liens. All filings, recordings, registrations and other actions, including the filing of financing
statements on form UCC-1 and or UCC-3, necessary or, in the opinion of the Administrative Agent, desirable to perfect or continue
the perfection of the Liens created by the Security Documents, shall have been filed, registered or recorded or shall have been
delivered to the Administrative Agent in proper form for filing, registration or recordation;

 

(f)              
Secretary’s Certificate. The Administrative Agent shall have received a certificate of the MLP in respect of
the Approved Organizational Changes, substantially in the form of Exhibit E, with appropriate insertions and attachments,
reasonably satisfactory in form and substance to the Administrative Agent, executed by (i) the President or any Vice President
and the Secretary or any Assistant Secretary on behalf of such Person, or, if applicable, of the managing member or members of
such Person, on behalf of such Person, or (ii) in the case of any such Person that is a limited liability company, partnership
or limited partnership that does not have any such officers, the managing member or members of such Person, on behalf of such Person;

 

(g)             
Proceedings of the MLP. The Administrative Agent shall have received a copy of the resolutions, in form and substance
reasonably satisfactory to the Administrative Agent, of the Board of Directors (or analogous body) of the MLP, certified on behalf
of such Person by the Secretary or an Assistant Secretary of such Person, or, if applicable, of the managing member or members
of such Person, which certification shall be included in the certificate delivered in respect of such Person pursuant to Section 11.30(f),
shall be in form and substance reasonably satisfactory to the Administrative Agent and shall state that the resolutions thereby
certified have not been amended, modified, revoked or rescinded;

 

(h)               Incumbency Certificate. The Administrative Agent shall have received a certificate of the MLP, as to the incumbency
and signature of the officers of such Person or, if applicable, of the managing member or members of such Person, executing any
Loan Document, or having authorization to execute any certificate, notice or other submission required to be delivered to the Administrative
Agent or a Lender pursuant to this Agreement, which certificate shall be included in the certificate delivered in respect of such
Person pursuant to Section 11.30(f), shall be reasonably satisfactory in form and substance to the Administrative Agent,
and shall be executed, as applicable, by the President or any Vice President or Director and the Secretary or any Assistant Secretary
of such Person, or, if applicable, of the managing member or members of such Person, on behalf of such Person;

 

(i)                
Organizational Documents. The Administrative Agent shall have received true and complete copies of the Governing
Documents of the MLP, certified as complete copies thereof by the Secretary or an Assistant Secretary of such Person, or, if applicable,
of the managing member or members of such Person, on behalf of such Person, which certification shall be included in the certificate
delivered in respect of such Person pursuant to Section 11.30(f) and shall be in form and substance reasonably satisfactory
to the Administrative Agent;

 

    	-247-	 

     

    

 

(j)               
Good Standing Certificate. The Administrative Agent shall have received certificates of status, compliance or good
standing (as applicable) dated as of a recent date from the Secretary of State or other appropriate authority, evidencing the good
standing of the MLP in the jurisdiction of its organization;

 

(k)              
Consents, Licenses and Approvals. The Administrative Agent shall have received a certificate of a Responsible Person
of the MLP either (i) attaching copies of all consents, authorizations and filings referred to in Section 5.4
(other than any Uniform Commercial Code financing statement filed pursuant to the Security Documents), and stating that such consents,
licenses and filings are in full force and effect or (ii) stating that no such consents, licenses or approvals are so required;

 

(l)               
Risk Management Policy. The Administrative Agent and the Lenders shall have received a copy of the Risk Management
Policy in respect of the Approved Organizational Changes, including position and other limits, which shall be satisfactory in content
and form to the Administrative Agent; and

 

(m)             
Know Your Customer Information. Each Lender shall have received all of the documents referred to in Section 6.1(y)
with respect to the MLP and shall have confirmed to the Administrative Agent that such documents are in form and substance reasonably
satisfactory to such Lender.

 

    	-248-	 

     

    

 

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

 

	 	 	SPRAGUE
    OPERATING RESOURCES LLC, as a Borrower
	 	 	 
	 	 	By:	/s/
    Paul A. Scoff
	 	 	 	Name: Paul A. Scoff
	 	 	 	Title: Vice President,
    General Counsel, 

    Chief Compliance Officer and Secretary
	 	 	 

 

	 	 	KILDAIR
    SERVICE ULC, as a Borrower
	 	 	 
	 	 	 
	 	 	By:	/s/
    Paul A. Scoff
	 	 	 	Name: Paul A. Scoff
	 	 	 	Title: Secretary

 

 

[Signature
Page to Second A&R Credit Agreement]

 

    

     

    

 

	 	 	ADMINISTRATIVE
    AGENT AND LENDERS:
	 	 	 
	 	 	MUFG
    Bank, Ltd.,
	 	 	 	as
    Administrative Agent and a Lender
	 	 	 
	 	 	 
	 	 	By:	/s/
    Christopher Taylor
	 	 	 	Name: Christopher Taylor
	 	 	 	Title: Managing Director

 

 

[Signature
Page to Second A&R Credit Agreement]

 

    

     

    

 

	 	 	MUFG
    Bank, LTD., Canada Branch
	 	 	 	as
    a Multicurrency Working Capital Facility Lender
	 	 	 
	 	 	 
	 	 	By:	/s/
    Philippe Boivin
	 	 	 	Name: Philippe Boivin
	 	 	 	Title: Managing Director

 

 

[Signature
Page to Second A&R Credit Agreement]

 

    

     

    

 

	 	 	BNP
    Paribas,
		 	 	as
    a Lender under the Dollar Working Capital Facility Committed Tranche, the Dollar Working Capital Uncommitted Tranche, and
    the Acquisition Facility
	 	 	 
	 	 	 
	 	 	By:	/s/
    Redi Meshi
	 	 	 	Name: Redi Meshi
	 	 	 	Title: Vice President
	 	 	 
	 	 	 
	 	 	By:	/s/
    Margarita Boulankova
	 	 	 	Name: Margarita Boulankova
	 	 	 	Title: Director

 

	 	 	BNP
    Paribas (acting through its Canada Branch)
	 	 	 	as a Lender
    under the Multicurrency Working Capital Facility
	 	 	 	 
	 	 	 	 
	 	 	By:	/s/Jean
    Rolin
	 	 	 	Name: Jean Rolin
	 	 	 	Title: Director
	 	 	 	 
	 	 	 	 
	 	 	By:	/s/Nicholas
    Brazeau
	 	 	 	Name: Nicholas Brazeau
	 	 	 	Title: VP, Coverage

 

 

[Signature
Page to Second A&R Credit Agreement]

 

    

     

    

 

	 	 	Customers
    Bank,
	 	 	 	as a Lender
	 	 	 	 
	 	 	 	 
	 	 	By:	/s/
    Joseph T. O’Leary, Jr.
	 	 	 	Name: Joseph T. O’Leary,
    Jr.
	 	 	 	Title: Executive Vice
    President

 

 

[Signature
Page to Second A&R Credit Agreement]

 

    

     

    

 

	 	 	Wells
    Fargo Bank, N.A.,
	 	 	 	as a Lender
	 	 	 
	 	 	 
	 	 	By:	/s/
    William Aldridge
	 	 	 	Name: William Aldridge
	 	 	 	Title: Director

 

 

[Signature
Page to Second A&R Credit Agreement]

 

    

     

    

 

	 	 	People’s
    United Bank, National Association,
	 	 	 	as a Lender
	 	 	By:	/s/
    Patricia L. Camelio
	 	 	 	Name: Patricia L. Camelio
	 	 	 	Title: Senior Vice President

 

 

[Signature
Page to Second A&R Credit Agreement]

 

    

     

    

 

	 	 	Coöperatieve
    Rabobank U.A., New York Branch,
	 	 	 	as a Lender
	 	 	 
	 	 	 
	 	 	By:	/s/
    Hayon Scarr
	 	 	 	Name: Hayon Scarr
	 	 	 	Title: Executive Director
	 	 	 	 
	 	 	 	 
	 	 	By:	/s/
    Edward Santos
	 	 	 	Name: Edward Santos
	 	 	 	Title: Vice President

 

 

[Signature
Page to Second A&R Credit Agreement]

 

    

     

    

 

	 	 	Santander
    Bank, N.A.,
	 	 	 	as a Lender
	 	 	 
	 	 	 
	 	 	By:	/s/
    John P. Nuzzo
	 	 	 	Name: John P. Nuzzo
	 	 	 	Title: Senior Vice President

 

 

[Signature
Page to Second A&R Credit Agreement]

 

    

     

    

 

	 	 	Société
    Générale,
	 	 	 	as a Lender
	 	 	 	 
	 	 	 	 
	 	 	By:	/s/
    Michiel V.M. Van Der Voort
	 	 	 	Name: Michiel V.M. Van
    Der Voort
	 	 	 	Title: Managing Director

 

 

[Signature
Page to Second A&R Credit Agreement]

 

    

     

    

 

	 	 	ABN
    AMRO Capital USA LLC,
	 	 	 	as a Lender
	 	 	 	 
	 	 	 	 
	 	 	By:	/s/
    Suzanne Durney
	 	 	 	Name: Suzanne Durney
	 	 	 	Title: Managing Director
	 	 	 	 
	 	 	 	 
	 	 	By:	/s/
    Rod Hutchinson
	 	 	 	Name: Rod Hutchinson
	 	 	 	Title: Managing Director

 

 

[Signature
Page to Second A&R Credit Agreement]

 

    

     

    

 

	 	 	Citizens
    Bank, N.A.,
	 	 	 	as a Lender
	 	 	 
	 	 	 
	 	 	By:	/s/
    Harvey Thayer
	 	 	 	Name: Harvey Thayer
	 	 	 	Title: SVP

 

 

[Signature
Page to Second A&R Credit Agreement]

 

    

     

    

 

	 	 	Webster
    Bank, N.A.,
	 	 	 	as a Lender
	 	 	 
	 	 	 
	 	 	By:	/s/
    Carol Carver
	 	 	 	Name: Carol Carver
	 	 	 	Title: Senior Vice President

 

 

[Signature
Page to Second A&R Credit Agreement]

 

    

     

    

 

	 	 	Citibank,
    N.A.,
	 	 	 	as a Lender
	 	 	 	 
	 	 	 	 
	 	 	By:	/s/
    Marina E. Gross
	 	 	 	Name: Marina E. Gross
	 	 	 	Title: Senior Vice President

 

 

[Signature
Page to Second A&R Credit Agreement]Document

Exhibit 10.1
______________________________________________________________________________

J.P.Morgan  

CREDIT AGREEMENT

dated as of

May 19, 2020

among

KIMBALL ELECTRONICS, INC.

The Lenders Party Hereto and

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
as Administrative Agent
and

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

____________________________________

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION,
as Sole Bookrunner and Sole Lead Arranger
______________________________________________________________________________

TABLE OF CONTENTS
						
		Page
	Article I Definitions
	1

	Section 1.01. Defined Terms
	1

	Section 1.02. Classification of Loans and Borrowings
	27

	Section 1.03. Terms Generally
	27

	Section 1.04. Accounting Terms; GAAP
	27

	Section 1.05. Pro Forma Adjustments for Acquisitions and Dispositions
	28

	Section 1.06. Interest Rates; LIBOR Notification
	28

	Section 1.07. Divisions
	29

	Article II The Credits
	29

	Section 2.01. Commitments
	29

	Section 2.02. Loans and Borrowings
	29

	Section 2.03. Requests for Revolving Borrowings
	30

	Section 2.04. [Section Intentionally Omitted]
	31

	Section 2.05. [Section Intentionally Omitted]
	31

	Section 2.06. [Section Intentionally Omitted]
	31

	Section 2.07. Funding of Borrowings
	31

	Section 2.08. Interest Elections
	32

	Section 2.09. Termination and Reduction of Commitments
	33

	Section 2.10. Repayment of Loans; Evidence of Debt
	34

	Section 2.11. Prepayment of Loans
	35

	Section 2.12. Fees
	35

	Section 2.13. Interest
	36

	Section 2.14. Alternate Rate of Interest; Illegality
	37

	Section 2.15. Increased Costs
	38

	Section 2.16. Break Funding Payments
	40

	Section 2.17. Payments Free of Taxes
	40

	Section 2.18. Payments Generally; Pro Rata Treatment; Sharing of Set-offs
	44

	Section 2.19. Mitigation Obligations; Replacement of Lenders.
	46

	Section 2.20. Defaulting Lenders
	47

	Section 2.21. Returned Payments
	47

	Section 2.22. Banking Services and Swap Agreements
	47

	Section 2.23. Judgment Currency
	48

	Article III Representations and Warranties
	48

	Section 3.01. Organization; Powers
	48

	Section 3.02. Authorization; Enforceability
	48

	Section 3.03. Governmental Approvals; No Conflicts
	49

	Section 3.04. Financial Condition; No Material Adverse Change
	49

i

						
	Section 3.05. Properties
	49

	Section 3.06. Litigation and Environmental Matters
	49

	Section 3.07. Compliance with Laws and Agreements
	50

	Section 3.08. Investment Company Status
	50

	Section 3.09. Taxes
	50

	Section 3.10. ERISA
	50

	Section 3.11. Subsidiaries
	51

	Section 3.12. Disclosure
	51

	Section 3.13. Material Agreements
	51

	Section 3.14. Anti-Corruption Laws and Sanctions
	51

	Section 3.15. EEA Financial Institutions
	51

	Section 3.16. Margin Stock
	51

	Article IV Conditions
	52

	Section 4.01. Effective Date
	52

	Section 4.02. Each Credit Event
	54

	Article V Affirmative Covenants
	54

	Section 5.01. Financial Statements; Ratings Change and Other Information
	54

	Section 5.02. Notices of Material Events
	56

	Section 5.03. Existence; Conduct of Business
	56

	Section 5.04. Payment of Obligations
	56

	Section 5.05. Maintenance of Properties; Insurance
	56

	Section 5.06. Books and Records; Inspection Rights
	57

	Section 5.07. Compliance with Laws
	57

	Section 5.08. Use of Proceeds
	57

	Section 5.09. Accuracy Of Information
	57

	Section 5.10. Addition of Guarantors; Addition of Pledged Stock
	57

	Article VI Negative Covenants
	58

	Section 6.01. Indebtedness
	58

	Section 6.02. Liens
	58

	Section 6.03. Fundamental Changes
	59

	Section 6.04. Investments, Guarantees and Acquisitions
	59

	Section 6.05. Sale of Assets
	60

	Section 6.06. Swap Agreements
	60

	Section 6.07. Restricted Payments
	60

	Section 6.08. Transactions with Affiliates
	61

	Section 6.09. Restrictive Agreements
	61

	Section 6.10. Amendment of Organizational Documents
	61

	Section 6.11. Financial Covenants
	62

	Article VII Events of Default
	62

	Article VIII The Administrative Agent and Certain ERISA Matters
	64

ii

						
	Section 8.01. The Administrative Agent.
	64

	Section 8.02. Certain ERISA Matters.
	67

	Article IX Miscellaneous
	69

	Section 9.01. Notices
	69

	Section 9.02. Waivers; Amendments
	71

	Section 9.03. Expenses; Indemnity; Damage Waiver
	72

	Section 9.04. Successors and Assigns
	73

	Section 9.05. Survival
	77

	Section 9.06. Counterparts; Integration; Effectiveness; Electronic Execution
	77

	Section 9.07. Severability
	78

	Section 9.08. Right of Setoff
	78

	Section 9.09. Governing Law; Jurisdiction; Consent to Service of Process
	78

	Section 9.10. WAIVER OF JURY TRIAL
	79

	Section 9.11. Headings
	79

	Section 9.12. Confidentiality
	79

	Section 9.13. Material Non-Public Information
	80

	Section 9.14. [Section Intentionally Omitted]
	81

	Section 9.15. Interest Rate Limitation
	81

	Section 9.16. No Advisory or Fiduciary Responsibility
	81

	Section 9.17. USA PATRIOT Act
	82

	Section 9.18. Acknowledgement and Consent to Bail-In of EEA Financial Institutions
	82

	Section 9.19. Marketing Consent
	82

	Section 9.20. Acknowledgement Regarding Any Supported QFCs
	82

	Article X Loan Guaranty
	83

	Section 10.01. Guaranty
	83

	Section 10.02. Guaranty of Payment
	84

	Section 10.03. No Discharge or Diminishment of Loan Guaranty
	84

	Section 10.04. Defenses Waived
	84

	Section 10.05. Rights of Subrogation
	85

	Section 10.06. Reinstatement; Stay of Acceleration
	85

	Section 10.07. Information
	85

	Section 10.08. Termination
	85

	Section 10.09. Taxes
	86

	Section 10.10. Maximum Liability
	86

	Section 10.11. Contribution
	86

	Section 10.12. Liability Cumulative
	87

	Section 10.13. Keepwell
	87

iii

SCHEDULES:
Schedule 2.01 – Commitments
Schedule 3.06 - Disclosed Matters
Schedule 3.11 – Subsidiaries
Schedule 6.02 – Existing Liens
Schedule 6.04 – Existing Investments
Schedule 6.09 – Existing Restrictions 

EXHIBITS:

Exhibit A -- Form of Assignment and Assumption 
Exhibit B-1 -- U.S. Tax Certificate (For Non-U.S. Lenders that are not Partnerships for U.S. Federal Income Tax Purposes)
Exhibit B-2 -- U.S. Tax Certificate (For Non-U.S. Lenders that are Partnerships for U.S. Federal Income Tax Purposes)
Exhibit B-3 -- U.S. Tax Certificate (For Non-U.S. Participants that are not Partnerships for U.S. Federal Income Tax Purposes)
Exhibit B-4 -- U.S. Tax Certificate (For Non-U.S. Participants that are Partnerships for U.S. Federal Income Tax Purposes)

iv

CREDIT AGREEMENT dated as of May 19, 2020, among KIMBALL ELECTRONICS, INC. (the “Borrower”), the LENDERS party hereto, and JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as Administrative Agent.
The parties hereto agree as follows:
ARTICLE I
Definitions
SECTION 1.01.    Defined Terms.  As used in this Agreement, the following terms have the meanings specified below:
“ABR”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, bear interest at a rate determined by reference to the Alternate Base Rate.
“Acquisition” means any transaction, or any series of related transactions, consummated on or after the date of this Agreement, by which the Borrower or any of its Subsidiaries (a) acquires any going business or all or substantially all of the assets of any firm, corporation or limited liability company, or division thereof, whether through purchase of assets, merger or otherwise or (b) directly or indirectly acquires (in one transaction or as the most recent transaction in a series of transactions) at least a majority (in number of votes) of the securities of a corporation which have ordinary voting power for the election of directors (other than securities having such power only by reason of the happening of a contingency) or a majority (by percentage or voting power) of the outstanding ownership interests of a partnership or limited liability company.
“Acquisition Consideration” means all consideration in respect of an Acquisition, including, without limitation, all direct payments, any assumed Indebtedness, earn-outs (valued at the maximum amount payable thereunder) deferred payments and any other form of consideration.
“Adjusted Consolidated EBITDA” means, for any period, Consolidated EBITDA plus Consolidated EBITDA of any entity (or assets or division of such entity) acquired by the Borrower or any of its Subsidiaries during such period shall be included (without duplication) on a pro forma basis for such period (assuming the consummation of such Acquisition occurred on the first day of such period), and provided that all income statement items to be included are reflected in audited financial statements or an acceptable quality of earnings report for Acquisitions equal to or in excess of $30,000,000 of Acquisition Consideration, or reflected in other financial data reasonably acceptable to the Administrative Agent for Acquisitions having Acquisition Consideration less than $30,000,000, and based upon reasonable assumptions and calculations which are expected to have a continuous impact.
“Adjusted Leverage Ratio” means the Borrower’s ratio of (a) Consolidated Total Indebtedness minus unencumbered U.S. cash on hand in the U.S. in excess of $15,000,000, to (b) Adjusted Consolidated EBITDA, determined as of the end of each of its fiscal quarters for the then most-recently ended four fiscal quarters.

“Adjusted LIBO Rate” means, with respect to any Eurocurrency Borrowing for any Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate.
“Administrative Agent” means JPMorgan Chase Bank, N.A., including its affiliates and subsidiaries, in its capacity as administrative agent for the Lenders hereunder.
“Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative Agent.
“Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified.
“Agency Site” means the Electronic System established by the Administrative Agent to administer this Agreement.
“Agent Party” has the meaning assigned to it in Section 9.01(d).
“Agreed Currencies” means (i) Dollars, (ii) so long as it remains an Eligible Currency, Euros, and (iii) any other Eligible Currency which the Borrower requests the Agent to include as Agreed Currency hereunder and which is acceptable to all of the Lenders and the Agent.
“Alternate Base Rate” means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the NYFRB Rate in effect on such day plus 1⁄2 of 1%, and (c) the Adjusted LIBO Rate for a one-month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1%, provided that, for the purpose of this definition, the Adjusted LIBO Rate for any day shall be based on the LIBO Screen Rate (or if the LIBO Screen Rate is not available for such one month Interest Period, the Interpolated Rate) at approximately 11:00 a.m. London time on such day.  Any change in the Alternate Base Rate due to a change in the Prime Rate, the NYFRB Rate or the Adjusted LIBO Rate shall be effective from and including the effective date of such change in the Prime Rate, the NYFRB Rate or the Adjusted LIBO Rate, respectively. If the Alternate Base Rate is being used as an alternate rate of interest pursuant to Section 2.14 (for the avoidance of doubt, only until any amendment has become effective pursuant to Section 2.14(c)), then the Alternate Base Rate shall be the greater of clause (a) and (b) above and shall be determined without reference to clause (c) above.  For the avoidance of doubt, if the Alternate Base Rate as determined pursuant to the foregoing would be less than 2.00%, such rate shall be deemed to be 2.00% for purposes of this Agreement.
“Alternative Currencies” means Agreed Currencies other than Dollars.
“Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to the Borrower or any of its Affiliates from time to time concerning or relating to bribery or corruption.
2

“Applicable Percentage” means, with respect to any Lender, the percentage of the total Commitments represented by such Lender’s Commitment; provided that in the case of Section 2.20 when a Defaulting Lender shall exist, “Applicable Percentage” shall mean the percentage of the total Commitments (disregarding any Defaulting Lender’s Commitment) represented by such Lender’s Commitment. If the Commitments have terminated or expired, the Applicable Percentages shall be determined based upon the Commitments most recently in effect, giving effect to any assignments and to any Lender’s status as a Defaulting Lender at the time of determination.
“Applicable Rate” means, for any day, with respect to any ABR Loan or Eurocurrency Revolving Loan, or with respect to the commitment fees and letter of credit fees payable hereunder, as the case may be, the applicable rate per annum set forth below under the caption “ABR Spread”, “Eurocurrency Spread”, or “Commitment Fee Rate”:
									
	ABR
Spread
	Eurocurrency
Spread
	Commitment Fee Rate
	1.125%	2.125%	.50%

“Approved Fund” has the meaning assigned to it in Section 9.04(b).
“Assignment and Assumption” means an assignment and assumption entered into by a Lender and an assignee (with the consent of any party whose consent is required by Section 9.04), and accepted by the Administrative Agent, in the form of Exhibit A or any other form approved by the Administrative Agent.
“Availability Period” means the period from and including the Effective Date to but excluding the earlier of the Maturity Date and the date of termination of the Commitments.
“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. 
“Banking Services” means each and any of the following bank services provided to any Loan Party by any Lender or any of its Affiliates: (a) credit cards for commercial customers (including, without limitation, “commercial credit cards” and purchasing cards), (b) stored value cards, (c) merchant processing services, and (d) treasury management services (including, without limitation, controlled disbursement, automated clearinghouse transactions, return items, overdrafts and interstate depository network services).
“Banking Services Obligations” means any and all obligations of the Loan Parties, whether absolute or contingent and howsoever and whensoever created, arising, evidenced or 
3

acquired (including all renewals, extensions and modifications thereof and substitutions therefor) in connection with Banking Services.
“Bankruptcy Event” means, with respect to any Person, such Person becomes the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation of its business appointed for it, or, in the good faith determination of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment, provided that a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof, unless such ownership interest results in or provides such Person with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Person (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made by such Person.
“Benchmark Replacement” means the sum of: (a) the alternate benchmark rate (which may be a SOFR-Based Rate) that has been selected by the Administrative Agent and the Borrower giving due consideration to (i) any selection or recommendation of a replacement rate or the mechanism for determining such a rate by the Relevant Governmental Body and/or (ii) any evolving or then-prevailing market convention for determining a rate of interest as a replacement to the LIBO Rate for U.S. dollar-denominated syndicated credit facilities and (b) the Benchmark Replacement Adjustment; provided that, if the Benchmark Replacement as so determined would be less than 1.00%, the Benchmark Replacement will be deemed to be 1.00% for the purposes of this Agreement; provided further that any such Benchmark Replacement shall be administratively feasible as determined by the Administrative Agent in its sole discretion.
“Benchmark Replacement Adjustment” means the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by the Administrative Agent and the Borrower giving due consideration to (i) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the LIBO Rate with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body and/or (ii) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the LIBO Rate with the applicable Unadjusted Benchmark Replacement for U.S. dollar-denominated syndicated credit facilities at such time (for the avoidance of doubt, such Benchmark Replacement Adjustment shall not be in the form of a reduction to the Applicable Rate).
“Benchmark Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “Alternate Base Rate,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest and other administrative matters) that the Administrative Agent decides in its reasonable discretion may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with 
4

market practice (or, if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration of the Benchmark Replacement exists, in such other manner of administration as the Administrative Agent decides is reasonably necessary in connection with the administration of this Agreement).

“Benchmark Replacement Date” means the earlier to occur of the following events with respect to the LIBO Rate: 
(1) in the case of clause (1) or (2) of the definition of “Benchmark Transition Event,” the later of (a) the date of the public statement or publication of information referenced therein and (b) the date on which the administrator of the LIBO Screen Rate permanently or indefinitely ceases to provide the LIBO Screen Rate; or

(2) in the case of clause (3) of the definition of “Benchmark Transition Event,” the date of the public statement or publication of information referenced therein.

“Benchmark Transition Event” means the occurrence of one or more of the following events with respect to the LIBO Rate: 

(1) a public statement or publication of information by or on behalf of the administrator of the LIBO Screen Rate announcing that such administrator has ceased or will cease to provide the LIBO Screen Rate, permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the LIBO Screen Rate; 
(2) a public statement or publication of information by the regulatory supervisor for the administrator of the LIBO Screen Rate, the U.S. Federal Reserve System, an insolvency official with jurisdiction over the administrator for the LIBO Screen Rate, a resolution authority with jurisdiction over the administrator for the LIBO Screen Rate or a court or an entity with similar insolvency or resolution authority over the administrator for the LIBO Screen Rate, in each case which states that the administrator of the LIBO Screen Rate has ceased or will cease to provide the LIBO Screen Rate permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the LIBO Screen Rate; and/or 
(3) a public statement or publication of information by the regulatory supervisor for the administrator of the LIBO Screen Rate announcing that the LIBO Screen Rate is no longer representative.
“Benchmark Transition Start Date” means (a) in the case of a Benchmark Transition Event, the earlier of (i) the applicable Benchmark Replacement Date and (ii) if such Benchmark Transition Event is a public statement or publication of information of a prospective event, the 90th day prior to the expected date of such event as of such public statement or publication of information (or if the expected date of such prospective event is fewer than 90 days after such statement or publication, the date of such statement or publication) and (b) in the case of an Early 
5

Opt-in Election, the date specified by the Administrative Agent or the Required Lenders, as applicable, by notice to the Borrower, the Administrative Agent (in the case of such notice by the Required Lenders) and the Lenders.

“Benchmark Unavailability Period” means, if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to the LIBO Rate and solely to the extent that the LIBO Rate has not been replaced with a Benchmark Replacement, the period (x) beginning at the time that such Benchmark Replacement Date has occurred if, at such time, no Benchmark Replacement has replaced the LIBO Rate for all purposes hereunder in accordance with Section 2.14 and (y) ending at the time that a Benchmark Replacement has replaced the LIBO Rate for all purposes hereunder pursuant to Section 2.14.

“Beneficial Ownership Certification” means a certification regarding beneficial ownership as required by the Beneficial Ownership Regulation.
“Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230. 
“Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I of ERISA, (b) a “plan” as defined in 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” means the Board of Governors of the Federal Reserve System of the United States of America.
“Borrower” means Kimball Electronics, Inc., an Indiana corporation.
“Borrowing” means Revolving Loans of the same Type, made, converted or continued on the same date and, in the case of Eurocurrency Loans, as to which a single Interest Period is in effect.
“Borrowing Request” means a request by the Borrower for a Revolving Borrowing in accordance with Section 2.03.
“Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in Indianapolis, Chicago or New York City are authorized or required by law to remain closed;  provided that, when used in connection with a Eurocurrency Loan, the term “Business Day” shall also exclude any day on which banks are not open for dealings in the relevant Agreed Currency in the London interbank market or the principal financial center of such Agreed Currency (and, if the Borrowings which are the subject of a borrowing, drawing, payment, reimbursement or rate selection are denominated in Euro, the term “Business Day” shall also exclude any day on which the TARGET2 payment system is not open for the settlement of payments in Euro).
“Capital Lease Obligations” of any Person means 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 required to be classified and 
6

accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP.
“Change in Control” means (a) the acquisition of ownership, directly or indirectly, beneficially or of record, by any Person or group (within the meaning of the Securities Exchange Act of 1934 and the rules of the SEC thereunder as in effect on the date hereof), of Equity Interests representing more than 25% of the aggregate ordinary voting power represented by the issued and outstanding Equity Interests of the Borrower; (b) occupation of a majority of the seats (other than vacant seats) on the board of directors of the Borrower by Persons who were not (i) directors of the Borrower on the date of this Agreement or (ii) nominated or appointed by directors of the Borrower; or (c) the acquisition of direct or indirect Control of the Borrower by any Person or group.
“Change in Law” means the occurrence after the date of this Agreement or, with respect to any Lender, such later date on which such Lender becomes a party to this Agreement) of (a) the adoption of or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the interpretation or application thereof by any Governmental Authority or (c) compliance by any Lender (or, for purposes of Section 2.15(b), by any lending office of such Lender or by such Lender’s holding company, if any) with any request, guideline or directive (whether or not having the force of law) of any Governmental Authority made or issued after the date of this Agreement; 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 be deemed to be a “Change in Law,” regardless of the date enacted, adopted or issued.
“Charges” has the meaning assigned to such term in Section 9.15
“Class” when used in reference to any Loan or Borrowing means Revolving Loans.
“Code” means the Internal Revenue Code of 1986, as amended.
“Commitment” means, with respect to each Lender, the commitment of such Lender to make Revolving Loans, expressed as an amount representing the maximum aggregate amount of such Lender’s Revolving Credit Exposure hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.09, and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s Commitment is set forth on Schedule 2.01, or in the Assignment and Assumption pursuant to which such Lender shall have assumed its Commitment, as applicable. The initial aggregate amount of the Lenders’ Commitments is $30,000,000.
“Communications” has the meaning assigned to it in Section 9.01(d).
“Compounded SOFR” means the compounded average of SOFRs for the applicable Corresponding Tenor, with the rate, or methodology for this rate, and conventions for this rate 
7

(which may include compounding in arrears with a lookback and/or suspension period as a mechanism to determine the interest amount payable prior to the end of each Interest Period) being established by the Administrative Agent in accordance with: 

(1)the rate, or methodology for this rate, and conventions for this rate selected or recommended by the Relevant Governmental Body for determining compounded SOFR; provided that:

(2)if, and to the extent that, the Administrative Agent determines that Compounded SOFR cannot be determined in accordance with clause (1) above, then the rate, or methodology for this rate, and conventions for this rate that the Administrative Agent determines in its reasonable discretion are substantially consistent with any evolving or then-prevailing market convention for determining compounded SOFR for U.S. dollar-denominated syndicated credit facilities at such time; 

provided, further, that if the Administrative Agent decides that any such rate, methodology or convention determined in accordance with clause (1) or clause (2) is not administratively feasible for the Administrative Agent, then Compounded SOFR will be deemed unable to be determined for purposes of the definition of “Benchmark Replacement.”
“Computation Date” has the meaning assigned to it in Section 2.02(d).
“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.
“Consolidated EBITDA” means, for any period, net income plus, to the extent deducted from revenues in determining net income, (i) interest expense, (ii) expense for taxes paid or accrued, (iii) depreciation and amortization, (iv) non-cash expenses related to stock based compensation, (v) extraordinary losses incurred other than in the ordinary course of business, (vi) any non-recurring reasonable fees incurred in connection with this Agreement and any amendments hereto, and (vii)  any non-recurring fees, cash charges and other cash expenses made or incurred in connection with any Permitted Acquisitions that have closed that are paid or otherwise accounted for within 90 days of the consummation of a Permitted Acquisition in an amount not to exceed $2,000,000 in the aggregate during any 4 quarter period, minus, to the extent included in net income, extraordinary gains realized other than in the ordinary course of business, all calculated for the Borrower and its Subsidiaries on a consolidated basis in accordance with generally accepted accounting principles.
“Consolidated Total Indebtedness” means at any time the Indebtedness of the Borrower and its Subsidiaries calculated on a consolidated basis as of such time.
“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise.  “Controlling” and “Controlled” have meanings correlative thereto.
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“Corresponding Tenor” with respect to a Benchmark Replacement means a tenor (including overnight) having approximately the same length (disregarding business day adjustment) as the applicable tenor for the applicable Interest Period with respect to the LIBO Rate.
“Covered Entity” means any of the following: 
(i)a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b);
(ii)a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R.§ 47.3(b); or
(iii)(iii) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R.§ 382.2(b).
“Covered Party” has the meaning assigned to it in Section 9.21
“Credit Party” means the Administrative Agent or any other Lender.
“Default” means any event or condition which constitutes an Event of Default or which upon notice, lapse of time or both would, unless cured or waived, become an Event of Default.
“Default Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.
“Defaulting Lender” means any Lender that (a) has failed, within two Business Days of the date required to be funded or paid, to (i) fund any portion of its Loans, or (ii) pay over to any Credit Party any other amount required to be paid by it hereunder, unless, in the case of clause (i) above, such Lender notifies the Administrative Agent in writing that such failure is the result of such Lender’s good faith determination that a condition precedent to funding (specifically identified and including the particular default, if any) has not been satisfied, (b) has notified the Borrower or any Credit Party in writing, or has made a public statement to the effect, that it does not intend or expect to comply with any of its funding obligations under this Agreement (unless such writing or public statement indicates that such position is based on such Lender’s good faith determination that a condition precedent (specifically identified and including the particular default, if any) to funding a loan under this Agreement cannot be satisfied) or generally under other agreements in which it commits to extend credit, (c) has failed, within three Business Days after request by a Credit Party, acting in good faith, to provide a certification in writing from an authorized officer of such Lender that it will comply with its obligations (and is financially able  to meet such obligations) to fund prospective Loans under this Agreement, provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon such Credit Party’s receipt of such certification in form and substance satisfactory to it and the Administrative Agent, or (d) has become the subject of a (i) Bankruptcy Event or (ii) Bail-In Action.
 “Disclosed Matters” means the actions, suits and proceedings and the environmental matters disclosed in Schedule 3.06.
“Dollars” or “$” refers to lawful money of the United States of America.
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“Early Opt-in Election” means the occurrence of:

(1)(i) a determination by the Administrative Agent or (ii) a notification by the Required Lenders to the Administrative Agent (with a copy to the Borrower) that the Required Lenders have determined that U.S. dollar-denominated syndicated credit facilities being executed at such time, or that include language similar to that contained in Section 2.14 are being executed or amended, as applicable, to incorporate or adopt a new benchmark interest rate to replace the LIBO Rate, and 
(2)(i) the election by the Administrative Agent or (ii) the election by the Required Lenders to declare that an Early Opt-in Election has occurred and the provision, as applicable, by the Administrative Agent of written notice of such election to the Borrower and the Lenders or by the Required Lenders of written notice of such election to the Administrative Agent.

“ECP Rules” has the meaning assigned to such term in Section 10.13.
“EEA Financial Institution” means (a) any institution 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 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 Date” means the date on which the conditions specified in Section 4.01 are satisfied (or waived in accordance with Section 9.02).
“Electronic Signature” means an electronic sound, symbol, or process attached to, or associated with, a contract or other record and adopted by a person with the intent to sign, authenticate or accept such contract or record.
“Electronic System” means any electronic system, including e-mail, e-fax, Intralinks® ClearPar®, Debt Domain, Syndtrak and any other Internet or extranet-based site, whether such electronic system is owned, operated or hosted by the Administrative Agent and any of its respective Related Persons or any other Person, providing for access to data protected by passcodes or other security system.
“Eligible Currency” means any currency other than Dollars (a) that is readily available, (b) that is freely traded, (c) in which deposits are customarily offered to banks in the London interbank market, (d) which is convertible into Dollars in the international interbank market and (e) as to which an Equivalent Amount may be readily calculated.  If, after the designation by the 
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Lenders of any currency as an Agreed Currency, (x) currency control or other exchange regulations are imposed in the country in which such currency is issued with the result that different types of such currency are introduced, (y) such currency is, in the determination of the Administrative Agent, no longer readily available or freely traded or (z) in the determination of the Administrative Agent, an Equivalent Amount of such currency is not readily calculable, the Agent shall promptly notify the Lenders and the Borrower, and such currency shall no longer be an Agreed Currency until such time as all of the Lenders agree to reinstate such currency as an Agreed Currency and promptly, but in any event within five Business Days of receipt of such notice from the Administrative Agent, the Borrower shall repay all Loans in such affected currency or convert such Loans into Loans in Dollars or another Agreed Currency, subject to the other terms set forth in Article II.
“Environmental Laws” means all laws, rules, regulations, codes, ordinances, orders, decrees, judgments, injunctions, notices or binding agreements issued, promulgated or entered into by any Governmental Authority, relating in any way to the environment, preservation or reclamation of natural resources, the management, release or threatened release of any Hazardous Material or to health and safety matters.
“Environmental Liability” means any liability, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the Borrower or any Subsidiary directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment or (e) any contract, agreement or other consensual arrangement pursuant  to which liability is assumed or imposed with respect to any of the foregoing.
“Equity Interests” means shares of capital stock, partnership interests, membership interests in a limited liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any such equity interest.
“Equivalent Amount” of any currency with respect to any amount of Dollars at any date shall mean the equivalent in such currency of such amount of Dollars, calculated on the basis of the Exchange Rate for such other currency at 11:00 a.m., London time, on the date on or as of which such amount is to be determined.
“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time.
“ERISA Affiliate” means any trade or business (whether or not incorporated) that, together with the Borrower, is treated as a single employer under Section 414(b) or (c) of the Code or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under Section 414 of the Code.
“ERISA Event” means (a) any “reportable event”, as defined in Section 4043 of ERISA or the regulations issued thereunder with respect to a Plan (other than an event for which the 30 
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day notice period is waived); (b) the existence with respect to any Plan of an “accumulated funding deficiency” (as defined in Section 412 of the Code or Section 302 of ERISA), whether or not waived; (c) the filing pursuant to Section 412(d) of the Code or Section 303(d) of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan; (d) the incurrence by the Borrower or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of any Plan; the receipt by the Borrower or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan or Plans or to appoint a trustee to administer any Plan; the incurrence by the Borrower or any of its ERISA Affiliates of any liability with respect to the withdrawal or partial withdrawal from any Plan or Multiemployer Plan; or (g) the receipt by the Borrower or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from the Borrower or any ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA.
“EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time to time.  
“Euro” and/or “EUR” means the single currency of the Participating Member states.
“Eurocurrency” when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBO Rate.
“Eurocurrency Payment Office” of the Administrative Agent shall mean, for each Alternative Currency, the office, branch, affiliate or correspondent bank of the Administrative Agent for such currency as specified from time to time by the Administrative Agent to the Borrower and each Lender.
“Event of Default” has the meaning assigned to such term in Article VII.
“Exchange Rate” means, on any day, with respect to any Alternative Currency, the rate at which such Alternative Currency may be exchanged into Dollars, as set forth at approximately 11:00 a.m., London time, on such date on the Reuters World Currency Page for such Alternative Currency.  In the event that such rate does not appear on any Reuters World Currency Page, the Exchange Rate with respect to such Alternative Currency shall be determined by reference to such other publicly available service for displaying exchange rates as may be reasonably selected by the Administrative Agent or, in the event no such service is selected, such Exchange Rate shall instead be calculated on the basis of the arithmetical mean of the buy and sell spot rates of exchange of the Administrative Agent for such Alternative Currency on the London market at 11:00 a.m., London time, on such date for the purchase of Dollars with such Alternative Currency, for delivery two Business Days later;  provided , that if at the time of any such determination, for any reason, no such spot rate is being quoted, the Administrative Agent, after consultation with the Borrower, may use any reasonable method it deems appropriate to determine such rate, and such determination shall be conclusive absent manifest error.
“Excluded Swap Obligations” means, with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a portion of the Guarantee of such Guarantor of, or the 
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grant by such Guarantor of a security interest to secure, such Swap Obligation (or any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to constitute an “Eligible Contract Participant” as defined in the ECP Rules at the time the Guarantee of such Guarantor or the grant of such security interest becomes or would become effective with respect to such Swap Obligation.  If a Swap Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such Guarantee or security interest is or becomes illegal.
“Excluded Taxes” means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or deducted from a payment to a Recipient, (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 Recipient 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) in the case of a Lender, U.S. Federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in 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 (other than pursuant to an assignment request by the Borrower under Section 2.19(b)) or (ii) such Lender changes its lending office, except in each case to the extent that, pursuant to Section 2.17, amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender acquired the applicable interest in a Loan or Commitment or to such Lender immediately before it changed its lending office, (c) Taxes attributable to such Recipient’s failure to comply with Section 2.17(f), and (d) any U.S. Federal withholding Taxes imposed under FATCA.
“Exempt Foreign Subsidiary” means (a) any non-U.S. Subsidiary of the Borrower and/or its Subsidiaries that is not a Material Foreign Subsidiary, and (b) as of any date of determination, a non-U.S. Subsidiary that otherwise is a Material Foreign Subsidiary which the Required Lenders have agreed, in writing, prior to such date, to exempt from the requirements of pledging its capital stock (or other ownership interest) to the Administrative Agent; provided, however, such entity under this clause (b) shall cease to be an Exempt Foreign Subsidiary upon 30 days written notice from the Required Lenders or the Administrative Agent to the Borrower.  As of the Closing Date, Kimball Electronics (Nanjing) Co., Ltd. is an Exempt Foreign Subsidiary under clause (b) above.
“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreement entered into pursuant to Section 1471(b)(1) of the Code.
“Federal Funds Effective Rate” means, for any day, the rate calculated by the NYFRB based on such day’s federal funds transactions by depositary institutions, as determined in such manner as shall be set forth on the Federal Reserve Bank of New York’s Website from time to time, and published on the next succeeding Business Day by the NYFRB as the effective federal 
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funds rate, provided that, if the Federal Funds Effective Rate as so determined would be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement.
“Federal Reserve Bank of New York’s Website” means the website of the NYFRB at http://www.newyorkfed.org, or any successor source.
“Financial Officer” means the chief financial officer, principal accounting officer, treasurer or controller of the Borrower.
“Financial Statements” means the financial statements to be furnished pursuant to Sections 5.01(a) and (b).
“Fixed Charge Coverage Ratio” means the ratio of (a) the sum of (i) Adjusted Consolidated EBITDA, minus (ii) 50% of depreciation expense, minus (iii) taxes paid, minus (iv) dividends and distributions paid, to (b) the sum of (i) scheduled principal payments on Indebtedness due and/or paid, plus (ii) interest expense, calculated for the Borrower and its Subsidiaries on a consolidated basis in accordance with GAAP for the trailing 4 quarter period then ending.
“Foreign Lender” means (a) if the Borrower is a U.S. Person, a Lender that is not a U.S. Person, and (b) if the Borrower is not a U.S. Person, a Lender that is resident or organized under the laws of a jurisdiction other than that in which the Borrower is resident for tax purposes.
“Funding Account” has the meaning assigned to such term in Section 4.01(g).
“GAAP” means generally accepted accounting principles in the United States of America. 
“Governmental Authority” means the government of the United States of America, any other nation or any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government.
“Guarantee” of or by any Person (the “guarantor”) means any obligation, contingent or otherwise, of the guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of the guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to advance or supply funds for the purchase of) any security for the payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or other obligation of the payment thereof, (c) to maintain working capital, equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation or (d) as an account party in respect of any letter of credit or letter of guaranty issued to support such Indebtedness or obligation; provided, that the term Guarantee shall not include endorsements for collection or deposit in the ordinary course of business.
“Guaranteed Obligations” has the meaning assigned to it in Section 10.01.
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“Guarantor Payment” has the meaning assigned to it in Section 10.11(a).
“Guarantors” means all Loan Guarantors and all non-Loan Parties who have delivered an Obligation Guaranty, and the term “Guarantor” means each or any one of them individually.
“Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to any Environmental Law.
“Impacted Interest Period” has the meaning assigned to it in the definition of “LIBO Rate.”
“Indebtedness” of any Person means, without duplication, (a) all obligations of such Person for borrowed money or with respect to deposits or advances of any kind (excluding deposits and advances received from customers in the ordinary course of business), (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person upon which interest charges are customarily paid, (d) all obligations of such Person under conditional sale or other title retention agreements relating to property acquired by such Person, (e) all obligations of such Person in respect of the deferred purchase price of property or services (excluding current accounts payable incurred in the ordinary course of business), (f) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by)  any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed, (g) all Guarantees by such Person of Indebtedness of others, (h) all Capital Lease Obligations of such Person, (i) all obligations, contingent or otherwise, of such Person as an account party in respect of letters of credit and letters of guaranty and (j) all obligations, contingent or otherwise, of  such Person in respect of bankers’ acceptances.  The Indebtedness of any Person shall include 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 provide that such Person is not liable therefor.
“Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of any Loan Party under any Loan Document and (b) to the extent not otherwise described in (a) hereof, Other Taxes.
“Ineligible Institution” has the meaning assigned to it in Section 9.04(b).
“Information Memorandum” means the Lender Package dated [DATE] relating to the Borrower and the Transactions.
“Interest Election Request” means a request by the Borrower to convert or continue a Revolving Borrowing in accordance with Section 2.08.
“Interest Payment Date” means (a) with respect to any ABR Loan, the last day of each March, June, September and December, and (b) with respect to any Eurocurrency Loan, the last 
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day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a Eurocurrency Borrowing with an Interest Period of more than three months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three months’ duration after the first day of such Interest Period.
“Interest Period” means with respect to any Eurocurrency Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar month that  is one, three or six months; provided, that (a) if any Interest Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless, in the case of a Eurocurrency Borrowing only, such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day and (b) any Interest Period pertaining to a Eurocurrency Borrowing that commences on the last Business  Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and, in the case of a Revolving Borrowing, thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing.
“Interpolated  Rate” means, at any time, for any Interest Period, the rate per annum (rounded to the same number of decimal places as the LIBO Screen Rate) determined by the Administrative Agent (which determination shall be conclusive and binding absent manifest error) to be equal to the rate that results from interpolating on a linear basis between: (a) the LIBO Screen Rate for the longest period for which the LIBO Screen Rate is available for the applicable Agreed Currency) that is shorter than the Impacted Interest Period; and (b) the LIBO Screen Rate for the shortest period (for which that LIBO Screen Rate is available for the applicable Agreed Currency) that exceeds the Impacted Interest Period, in each case, at such time; provided, that, if any Interpolated Rate shall be less than 1.00%, such rate shall be deemed to be 1.00% for purposes of this Agreement.
“Investment” of a Person means any loan, advance (other than commission, travel and similar advances to officers and employees made in the ordinary course of business), extension of credit (other than accounts receivable arising in the ordinary course of business on terms customary in the trade) or contribution of capital by such Person; stocks, bonds, mutual funds, partnership interests, notes, debentures or other securities owned by such Person; any deposit accounts and certificate of deposit owned by such Person; and structured notes, derivative financial instruments and other similar instruments or contracts owned by  such Person.
“Investment Guidelines” means the Borrower’s existing Investment Guidelines dated as of the date hereof as in effect as of the date hereof, and any amendments or modifications thereto that are approved by the Borrower’s chief financial officer with the written consent of the Required Lenders.
“IRS” means the United States Internal Revenue Service.
“Lender Parent” means, with respect to any Lender, any Person as to which such Lender is, directly or indirectly, a subsidiary.
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“Lenders” means the Persons listed on Schedule 2.01 and any other Person that shall have become a party hereto pursuant to an Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption. 
  “Leverage Ratio” means the Borrower’s ratio of Consolidated Total Indebtedness to Adjusted Consolidated EBITDA.
“LIBO Rate” means, with respect to any Eurocurrency Borrowing for any applicable currency and for any Interest Period, the LIBO Screen Rate at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period; provided that if the LIBO Screen Rate shall not be available at such time for such Interest Period (an “Impacted Interest Period”) with respect to the applicable currency then the LIBO Rate shall be the Interpolated Rate.
“LIBO Screen Rate”  means, for any day and time, with respect to any Eurocurrency Borrowing for any applicable currency and for any Interest Period, the London interbank offered rate as administered by ICE Benchmark Administration (or any other Person that takes over the administration of such rate for the relevant currency for a period equal in length to such Interest Period as displayed on such day and time on pages LIBOR01 or LIBOR02 of the Reuters screen that displays such rate (or, in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion), provided that if the LIBO Screen Rate shall be less than 1.00%, such rate shall be deemed to be 1.00% for the purposes of this Agreement.
“Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing lease having substantially the same economic effect as any of the foregoing) relating to such asset and (c) in the case of securities, any purchase option, call or similar right of a third party with  respect to such securities.
“Liquidity” means the sum of (i) availability under the Revolving Commitments, plus (ii) unencumbered U.S. cash on hand in the U.S.
“Loan Documents” means this Agreement, including schedules and exhibits hereto, and any agreements entered into in connection herewith by the Borrower or any Loan Party with or in favor of the Administrative Agent and/or the Lenders, including this Agreement, the notes, the Loan Guaranty and any Obligation Guaranty, and any amendments, modifications or supplements thereto or waivers thereof, and any other documents prepared in connection with the other Loan Documents, if any.
“Loan Guarantor” means the Borrower and each of the Borrower’s domestic Subsidiaries.
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“Loan Guaranty” means Article X of this Agreement.
“Loan Parties” means the Borrower and each Guarantor.
“Loans” means the loans made by the Lenders to the Borrower pursuant to this Agreement.
“Material Adverse Effect” means a material adverse effect on (a) the business, assets, operations, prospects or condition, financial or otherwise, of the Borrower and the Subsidiaries taken as a whole, (b) the ability of the Borrower to perform any of its obligations under this Agreement or any other Loan Document or (c) the rights of or benefits available to the Lenders under this Agreement or any other Loan Document.
“Material Foreign Subsidiary” means (a) each of Kimball Electronics-Mexico S.A. De C.V., Kimball Electronics Netherlands B.V., Kimball Electronics Poland Sp. z o.o., Kimball Thailand Electronics-(Thailand) Limited and Kimball Electronics Romania S.R. L., (b) each non-U.S. Subsidiary of the Borrower or its Subsidiary that upon acquisition is expected to be responsible for more than 5% of the consolidated net sales of the Borrower and its Subsidiaries for the succeeding 12-month period, excluding the sales of such non-U.S. Subsidiary that are made to a Loan Guarantor,  and (c) each non-U.S. Subsidiary of the Borrower or its Subsidiary that is responsible for more than 5% of the consolidated net sales of the Borrower and its Subsidiaries in any fiscal year, excluding the sales of such non-U.S. Subsidiary that are made to a Loan Guarantor.
“Material Indebtedness” means Indebtedness (other than the Loans), or obligations in respect of one or more Swap Agreements, of any one or more of the Borrower and its Subsidiaries in an aggregate principal amount exceeding $5,000,000.  For purposes of determining Material Indebtedness, the “principal amount” of the obligations of the Borrower or any Subsidiary in respect of any Swap Agreement at any time shall be the maximum aggregate amount (giving effect to any netting agreements) that the Borrower or such Subsidiary would be required to pay if such Swap Agreement were terminated at such time.
“Maturity Date” means May 18, 2021.
“Maximum Rate” has the meaning assigned to such term in Section 9.15.
“Moody’s” means Moody’s Investors Service, Inc.
“Multiemployer Plan” means a multiemployer plan as defined in Section 4001(a)(3) of ERISA. 
“NYFRB” means the Federal Reserve Bank of New York.
“NYFRB Rate” means, for any day, the greater of (a) the Federal Funds Effective Rate in effect on such day and (b) the Overnight Bank Funding Rate in effect on such day(or for any day that is not a Banking Day, for the immediately preceding Banking Day); provided that if none of such rates are published for any day that is a Business Day, the term “NYFRB Rate” means the rate for a federal funds transaction quoted at 11:00 a.m. on such day received to the 
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Administrative Agent from a Federal funds broker of recognized standing selected by it; provided, further, that if any of the aforesaid rates shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.
“Obligated Party” has the meaning assigned to such term in Section 10.02.
“Obligation Guaranty” means any Guarantee of all or any portion of the Secured Obligations executed and delivered to the Administrative Agent for the benefit of the Secured Parties by a guarantor who is not a Loan Party.
“Obligations” means all unpaid principal of and accrued and unpaid interest on the Loans, all accrued and unpaid fees and all expenses, reimbursements, indemnities and other obligations and indebtedness (including interest and fees accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), obligations and liabilities of the Borrower and its Subsidiaries to any of the Lenders, the Administrative Agent, or any indemnified party, individually or collectively, existing on the Effective Date or arising thereafter, direct or indirect, joint or several, absolute or contingent, matured or unmatured, liquidated or unliquidated, secured or unsecured, arising by contract, operation of law or otherwise, arising or incurred under this Agreement or any of the other Loan Documents or in respect of any of the Loans made or reimbursement or other obligations incurred or any other instruments at any time evidencing any thereof.
“Original Currency” has the meaning assigned to such term in Section 2.18(a).
“Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any 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 (other than an assignment made pursuant to Section 2.19).
“Overnight Bank Funding Rate” means, for any day, the rate comprised of both overnight federal funds and overnight Eurocurrency borrowings by U.S.-managed banking offices of depository institutions (as such composite rate shall be determined by the NYFRB as set forth on the Federal Reserve Bank of New York’s Website from time to time) and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate.
“Paid in Full” or “Payment in Full” means, (i) the indefeasible payment in full in cash of all outstanding Loans, together with accrued and unpaid interest thereon, (ii) the indefeasible 
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payment in full in cash of all accrued and unpaid fees, including the applicable Prepayment Fee, if any, (iii) the indefeasible payment in full in cash of all reimbursable expenses and other Secured Obligations (other than Unliquidated Obligations for which no claim has been made and other obligations expressly stated to survive such payment and termination of this Agreement), together with accrued and unpaid interest thereon, (iv) the termination of all Commitments, and (v) the termination of the Swap Agreement Obligations and the Banking Services Obligations.
“Participant” has the meaning assigned to such term in Section 9.04(c).
“Participant Register” has the meaning assigned to such term in Section 9.04(c).
“Participating Member State” means any member state of the European Union that adopts or has adopted the Euro as its lawful currency in accordance with legislation of the European Union relating to economic and monetary union.
“Parties” means the Borrower or any of its Affiliates.
“PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA and any successor entity performing similar functions.
“Permitted Acquisitions” means any Acquisition by the Borrower or any Subsidiary of the Borrower (i) for an unlimited amount of Acquisition Consideration so long as the Borrower shall demonstrate on a pro forma basis taking into effect the consummation of such acquisition of an Adjusted Leverage Ratio of less than 2.00 to 1.00, and (ii) having an aggregate amount of Acquisition Consideration paid or payable for such Acquisition together with the aggregate amount of all Acquisition Consideration paid or payable for all other Acquisitions (including any Acquisitions permitted under (i) above) by the Borrower and its Subsidiaries during any 18-month period in an amount less than $125,000,000, and provided that in each case of an Acquisition permitted under either (i) or (ii) above, each of the following conditions are satisfied:  (a) in the event of a merger, the Borrower or a Subsidiary of the Borrower is the legal surviving corporation; (b) no Event of Default has occurred and is continuing at the time of such Acquisition or will result or occur after the consummation of such Acquisition; (c) for any Acquisition having an aggregate amount of Acquisition Consideration payable equal to or in excess of $10,000,000, the Administrative Agent receives prior notice of all material details of such Acquisition, and the entity or business acquired is substantially in the same field or enterprise as presently conducted by the Borrower or its Subsidiaries; (d) for any Acquisition having an aggregate amount of Acquisition Consideration payable equal to or in excess of $30,000,000, the Borrower provides satisfactory written evidence to the Administrative Agent that the Borrower will be in compliance with all financial covenants both before and after consummation of such Acquisition, calculated on a pro forma basis for the prior 12 month period giving effect to the consummation of such Acquisition; and (e) the proposed Acquisition is consensual (not hostile) and, if applicable, the Administrative Agent receives satisfactory evidence that the board of directors of the target entity, in the case of a corporation, or the members or managers (as applicable) of the target entity, in the case of a limited liability company, have approved the subject Acquisition, or such other satisfactory evidence that such Acquisition is consensual.
“Permitted Encumbrances” means:
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(a)Liens imposed by law for Taxes that are not yet due or are being contested in compliance with Section 5.04;
(b)carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s and other like Liens imposed by law, arising in the ordinary course of business and securing obligations that are not overdue by more than 60 days or are being contested in compliance with Section 5.04;
(c)pledges and deposits made in the ordinary course of business in compliance with workers’ compensation, unemployment insurance, old age pensions, and other social security laws, retirement benefits or similar regulations;
(d)deposits to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business;
(e)judgment liens in respect of judgments that do not constitute an Event of Default under clause (k) of Article VII;
(f)easements, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of the affected property or interfere with the ordinary conduct of business of the Borrower or any Subsidiary;
(g)Liens in favor of a banking or other financial institution arising as a matter of law or in the ordinary course of business under customary general terms and conditions encumbering deposits or other funds maintained with a financial institution (including the right of set-off) and that are within the general parameters customary in the banking industry or arising pursuant to such banking institution’s general terms and conditions;
(h)Liens on specific items of inventory or other goods and proceeds thereof of any Person securing such Person’s obligations in respect of bankers’ acceptances or letters of credit issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods in the ordinary course of business; and
(i)Liens encumbering reasonable customary initial deposits and margin deposits and similar Liens attaching to commodity trading accounts or other brokerage accounts incurred in the ordinary course of business and not for speculative purposes;
provided that the term “Permitted Encumbrances” shall not include any Lien securing Indebtedness. 
“Permitted Investments” means:
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(a)direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United States of America (or by any agency thereof to the extent such obligations are backed by the full faith and credit of the United States of America), in each case maturing within one year from the date of acquisition thereof;
(b)investments in commercial paper maturing within 270 days from the date of acquisition thereof and having, at such date of acquisition, the highest credit rating obtainable from S&P or from Moody’s;
(c)investments in certificates of deposit, banker’s acceptances and time deposits maturing within 180 days from the date of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, any domestic office of any commercial bank organized under the laws of the United States of America or any State thereof which has a combined capital and surplus and undivided profits of not less than $500,000,000;
(d)fully collateralized repurchase agreements with a term of not more than 30 days for securities described in clause (a) above and entered into with a financial institution satisfying the criteria described in clause (c) above; 
(e)money market funds that (i) comply with the criteria set forth in SEC Rule 2a-7 under the Investment Company Act of 1940, (ii) are rated AAA by S&P and Aaa by Moody’s and (iii) have portfolio assets of at least $5,000,000,000; and
(f)investments included in the Investment Guidelines.
“Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity.
“Plan” means any employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, and in respect of which the Borrower or any ERISA Affiliate is (or, if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA.
“Plan Asset Regulations” means 29 CFR § 2510.3-101 et seq., as modified by Section 3(42) of ERISA, as amended from time to time.
“Platform” means Debt Domain, Intralinks, Syndtrak or a substantially similar electronic transmission system.
“Prime Rate” means the rate of interest per annum publicly announced from time to time by JPMorgan Chase Bank, N.A. as its prime rate in effect at its office located at 270 Park Avenue, New York, New York; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective.
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“PTE” means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time.
“Public-Sider” means any Lender’s representative who may trade in securities of the Borrower or its controlling person or any of its Subsidiaries while in possession of the financial statements provided by the Borrower under the terms of this Agreement.
“QFC” has the meaning assigned to the term “qualified financial contract” in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D).
“QFC Credit Support” has the meaning assigned to it in Section 9.21.
“Qualified ECP Guarantor” means, in respect of any Swap Obligation, each Loan Party that has total assets exceeding $10,000,000 at the time the relevant Loan Guaranty or grant of the relevant security interest becomes or would become effective with respect to such Swap Obligation or such other person as constitutes an “eligible contract participant” under the Commodity Exchange Act or any regulations promulgated thereunder and can cause another person to qualify as an “eligible contract participant” at such time by entering into a keepwell under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.
“Quotation Day” means, with respect to any Eurocurrency Borrowing for any Interest Period, (i)  if the currency is Euro, the day that is two TARGET2 Days before the first day of such Interest Period, and (ii) for any other currency, two Business Days prior to the commencement of such Interest Period (unless, in each case, market practice differs in the relevant market where the LIBO Rate for such currency is to be determined, in which case the Quotation Day will be determined by the Administrative Agent in accordance with market practice in such market (and if quotations would normally be given on more than one day, then the Quotation Day will be the last of those days)).
“Recipient” means (a) the Administrative Agent, and (b) any Lender, as applicable.
“Register” has the meaning assigned to such term in Section 9.04(b).
“Related Parties” means, with respect to any specified Person, such Person’s Affiliates and the respective directors, officers, employees, agents and advisors of such Person and such Person’s Affiliates.
“Relevant Governmental Body” means the Federal Reserve Board and/or the NYFRB, or a committee officially endorsed or convened by the Federal Reserve Board and/or the NYFRB or, in each case, any successor thereto.
“Required Lenders” means, at any time, not less than two Lenders having Revolving Credit Exposures and unused Commitments representing more than 50% of the sum of the total Revolving Credit Exposures and unused Commitments at such time; provided that for the purpose of determining the Required Lenders needed for any waiver, amendment, modification or consent, any Lender that is the Borrower, or any Affiliate of the Borrower shall be disregarded.
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“Restricted Payment” means any dividend or other distribution (whether in cash, securities or other property) with respect to any Equity Interests in the Borrower or any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any such Equity Interests in the Borrower or any option, warrant or other right to acquire any such Equity Interests in the Borrower.
“Revolving Credit Exposure” means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s Revolving Loans at such time.
“Revolving Loan” means a Loan made pursuant to Section 2.03.
“S&P” means Standard & Poor’s.
“Sanctioned Country” means, at any time, a country, region or territory which is itself the subject or target of any Sanctions (at the time of this Agreement, Cuba, Iran, North Korea, Syria and Crimea).
“Sanctioned Person” means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State, or by the United Nations Security Council, the European Union,  any European Union member state, Her Majesty’s Treasury of the United Kingdom, or other relevant sanctions authority, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person owned or controlled by any such Person or Persons described in the foregoing clauses (a) or (b).
“Sanctions” means all economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or (b) the United Nations Security Council, the European Union, any European Union member state, or Her Majesty’s Treasury of the United Kingdom, or other relevant sanctions authority.
“SEC” means the Securities and Exchange Commission of the United State of America.
“Secured Obligations” means all Obligations, together with all (i) Banking Services Obligations and (ii) Swap Agreement Obligations owing to one or more Lenders or their respective Affiliates; provided, however, that the definition of “Secured Obligations” shall not create any guarantee by any Guarantor of (or grant of security interest by any Guarantor to support, as applicable) any Excluded Swap Obligations of such Guarantor for purposes of determining any obligations of any Guarantor.
“Secured Parties” means (a) the Administrative Agent, (b) the Lenders, (c) each provider of Banking Services, to the extent the Banking Services Obligations in respect thereof constitute Secured Obligations, (d) each counterparty to any Swap Agreement, to the extent the obligations thereunder constitute Secured Obligations, (e) the beneficiaries of each indemnification 
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obligation undertaken by any Loan Party under any Loan Document, and (f) the successors and assigns of each of the foregoing.  
“SOFR” with respect to any day means the secured overnight financing rate published for such day by the NYFRB, as the administrator of the benchmark (or a successor administrator), on the Federal Reserve Bank of New York’s Website.
“SOFR-Based Rate” means SOFR, Compounded SOFR or Term SOFR.
“Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentage (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the Board to which the Administrative Agent is subject with respect to the Adjusted LIBO Rate, for Eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board). Such reserve percentage shall include those imposed pursuant to such Regulation D.  Eurocurrency Loans shall be deemed to constitute Eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any Lender under such Regulation D or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage.
“subsidiary” means, with respect to any Person (the “parent”) at any date, any corporation, limited liability company, partnership, association or other entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial statements if such financial statements were prepared in accordance with GAAP as of such date, as well as any other corporation, limited liability company, partnership, association or other entity (a) of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general partnership interests are, as of such date, owned, controlled or held, or (b) that is, as of such date, otherwise Controlled, by the parent or one or more subsidiaries of the parent or by the parent and one or more subsidiaries of the parent.
“Subsidiary” means any subsidiary of the Borrower.
“Supported QFC” has the meaning assigned to it in Section 9.20.
“Swap Agreement” means any agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing  indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or consultants of the Borrower or the Subsidiaries shall be a Swap Agreement.
“Swap Agreement Obligations” means any and all obligations of the Loan Parties, whether absolute or contingent and howsoever and whensoever created, arising, evidenced or 
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acquired (including all renewals, extensions and modifications thereof and substitutions therefor), under (a) any Swap Agreement permitted hereunder with a Lender or an Affiliate of a Lender, and (b) any cancellations, buy backs, reversals, terminations or assignments of any Swap Agreement transaction permitted hereunder with a Lender or an Affiliate of a Lender. 
“Swap Obligation” means, with respect to any Guarantor, any obligation to pay or perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act or any rules or regulations promulgated thereunder.
“TARGET2” means the Trans-European Automated Real-time Gross Settlement Express Transfer (TARGET2) payment system (or, if such payment system ceases to be operative, such other payment system (if any) reasonably determined by the Administrative Agent to be a suitable replacement) for the settlement of payments in euro.
“TARGET2 Day” means a day that TARGET2 is open for the settlement of payments in euro.
“Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), value added taxes, or any other goods and services, use or sales taxes, assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.
“Term SOFR” means the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body.
“Total Revolving Credit Exposure” means, the sum of the outstanding principal amount of all Lenders’ Revolving Loans at such time.
“Transactions” means the execution, delivery and performance by the Borrower of this Agreement, the borrowing of Loans, and the use of the proceeds thereof.
“Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the Adjusted LIBO Rate or the Alternate Base Rate.
“UCC” means the Uniform Commercial Code as in effect from time to time in the State of Indiana or in any other state, the laws of which are required to be applied in connection with the issue of perfection of security interests.  
“Unadjusted Benchmark Replacement” means the Benchmark Replacement excluding the Benchmark Replacement Adjustment; provided that, if the Unadjusted Benchmark Replacement as so determined would be less than 1.00%, the Unadjusted Benchmark Replacement will be deemed to be 1.00% for the purposes of this Agreement.
“U.S. Person” means a “United States person” within the meaning of Section 7701(a)(30) of the Code.
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“U.S. Special Resolution Regime” has the meaning assigned to it in Section 9.21.
“U.S. Tax Compliance Certificate” has the meaning assigned to such term in Section 2.17(f)(ii)(B)(3).
“Withdrawal Liability” means liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA.
“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.
SECTION 1.02.    Classification of Loans and Borrowings. For purposes of this Agreement, Loans may be classified and referred to by Class (e.g., a “Revolving Loan”) or by Type (e.g., a “Eurocurrency Loan”) or by Class and Type (e.g., a “Eurocurrency Revolving Loan”). Borrowings also may be classified and referred to by Class (e.g., a “Revolving Borrowing”) or by Type (e.g., a “Eurocurrency Borrowing”) or by Class and Type (e.g., a “Eurocurrency Revolving Borrowing”).
SECTION 1.03.    Terms Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined.  Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”.  Unless the context requires otherwise any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (b) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (c) the words “herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement and (e) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights.
SECTION 1.04    Accounting Terms; GAAP.  Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in effect from time to time; provided that, if the Borrower notifies the Administrative Agent that the Borrower requests an amendment to any provision hereof to eliminate the effect of any change occurring after the date hereof in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the Borrower that the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied
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immediately before such change shall have become effective until  such notice shall have been withdrawn or such provision  amended in accordance herewith.  Notwithstanding any other provision contained herein, all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made, without giving effect to any election under Financial Accounting Standards Board Accounting Standards Codification 825 (or any other Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities of the Borrower or any Subsidiary at “fair value”, as defined therein.  In the event of an accounting change requiring all leases to be capitalized, only those leases (assuming for purposes hereof that such leases were in existence on the date hereof) that would constitute Capital Lease Obligations in conformity with GAAP on the date hereof shall be considered Capital Lease Obligations, and all calculations and deliverables under this Agreement or any other Loan Document shall be made or delivered, as applicable, in accordance therewith (provided that together with all financial statements delivered to the Administrative Agent and the Lenders in accordance with the terms of this Agreement after the date of any such accounting change, the Borrower shall deliver a schedule showing the adjustments necessary to reconcile such financial statements with GAAP as in effect immediately prior to such accounting change).
SECTION 1.05.    Pro Forma Adjustments for Acquisitions and Dispositions.  To the extent the Borrower or any Subsidiary makes any acquisition permitted pursuant to Section 6.04 or disposition of assets outside the ordinary course of business permitted by Section 6.05 during the period of four fiscal quarters of the Borrower most recently ended, the Adjusted Leverage Ratio, the Leverage Ratio and the Fixed Charge Coverage Ratio shall be calculated after giving pro forma effect thereto (including pro forma adjustments arising out of events which are directly attributable to the acquisition or the disposition of assets, are factually supportable and are expected to have a continuing impact, in each case as determined on a basis consistent with Article 11 of Regulation S-X of the Securities Act of 1933, as amended, as interpreted by the SEC, and as certified by a Financial Officer), as if such acquisition or such disposition (and any related incurrence, repayment or assumption of Indebtedness) had occurred in the first day of such four-quarter period.
SECTION 1.06    Interest Rates; LIBOR Notification.  The interest rate on Eurocurrency Loans is determined by reference to the LIBO Rate, which is derived from the London interbank offered rate. The London interbank offered rate is intended to represent the rate at which contributing banks may obtain short-term borrowings from each other in the London interbank market.  In July 2017, the U.K. Financial Conduct Authority announced that, after the end of 2021, it would no longer persuade or compel contributing banks to make rate submissions to the ICE Benchmark Administration (together with any successor to the ICE Benchmark Administrator, the “IBA”) for purposes of the IBA setting the London interbank offered rate. As a result, it is possible that commencing in 2022, the London interbank offered rate may no longer be available or may no longer be deemed an appropriate reference rate upon which to determine the interest rate on Eurocurrency Loans.  In light of this eventuality, public and private sector industry initiatives are currently underway to identify new or alternative reference rates to be used in place of the London interbank offered rate. Upon the occurrence of a Benchmark Transition Event or an Early Opt-In Election, Section 2.14(c) provides a mechanism for determining an alternative rate of interest.  The Administrative Agent will promptly notify the 
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Borrower, pursuant to Section 2.14(e), of any change to the reference rate upon which the interest rate on Eurocurrency Loans is based.  However, the Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, the administration, submission or any other matter related to the London interbank offered rate or other rates in the definition of “LIBO Rate” or with respect to any alternative or successor rate thereto, or replacement rate thereof (including, without limitation, (i) any such alternative, successor or replacement rate implemented pursuant to Section 2.14(c), whether upon the occurrence of a Benchmark Transition Event or an Early Opt-in Election, and (ii) the implementation of any Benchmark Replacement Conforming Changes pursuant to Section 2.14(d)), including without limitation, whether the composition or characteristics of any such alternative, successor or replacement reference rate will be similar to, or produce the same value or economic equivalence of, the LIBO Rate or have the same volume or liquidity as did the London interbank offered rate prior to its discontinuance or unavailability.
SECTION 1.07    Divisions.  For all purposes under the Loan Documents, in connection with any Division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized and acquired on the first date of its existence by the holders of its Equity Interests at such time.
ARTICLE II
The Credits
SECTION 2.01.    Commitments. Subject to the terms and conditions set forth herein, each Lender agrees to make Revolving Loans to the Borrower in Agreed Currencies in Dollar Amounts, provided that all ABR Loans shall be made in Dollars, from time to time during the Availability Period in an aggregate principal amount that will not result (after giving effect to any application of proceeds of such Borrowing pursuant to Section 2.10) in (a) subject to Sections 2.02(e) and 2.10(b), the Dollar Amount of such Lender’s Revolving Credit Exposure exceeding such Lender’s Commitment or (b) subject to Sections 2.02(e) and 2.10(b), the sum of the Dollar Amount of the Total Revolving Credit Exposures exceeding the total Commitments.  Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Revolving Loans.
SECTION 2.02.    Loans and Borrowings. 
(a) Each Revolving Loan shall be made as part of a Borrowing consisting of Revolving Loans made by the Lenders ratably in accordance with their respective Commitments.  The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and no Lender shall be responsible for any other Lender’s failure to make Loans as required. 
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(b) Subject to Section 2.14, each Revolving Borrowing shall be comprised entirely of ABR Loans or Eurocurrency Loans as the Borrower may request in accordance herewith.   Each Lender at its option may make any Eurocurrency Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement.
(c) At the commencement of each Interest Period for any Eurocurrency Revolving Borrowing, such Borrowing shall be in an aggregate amount that is an integral multiple of $100,000 and not less than $1,000,000 (or the Equivalent Amounts if denominated in an Alternative Currency).  At the time that each ABR Revolving Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $50,000 and not less than $250,000; provided that an ABR Revolving Borrowing may be in an aggregate amount that is equal to the entire unused balance of the total Commitments.  Borrowings of more than one Type and Class may be outstanding at the same time; provided that there shall not at any time be more than a total of 8 Eurocurrency Revolving Borrowings outstanding.
(d) Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date.
(e) The Administrative Agent will determine the Dollar Amount of:
(i) each Eurocurrency Borrowing as of the date three Business Days prior to the Borrowing Date or, if applicable, date of conversion/continuation of such Eurocurrency Borrowing, and
(ii) all outstanding Eurocurrency Borrowings on and as of the last Business Day of each calendar quarter and on any other Business Day elected by the Administrative Agent in its discretion or upon instruction by the Required Lenders.  
Each day upon or as of which the Administrative Agent determines Dollar Amounts as described in the preceding clauses (i) and (ii) is herein described as a “Computation Date” with respect to each Borrowing for which a Dollar Amount is determined on or as of such day.  If at any time the Dollar Amount of the sum of the aggregate principal amount of all outstanding Borrowings (calculated, with respect to those Borrowings denominated in Alternative Currencies, as of the most recent Computation Date with respect to each such Borrowing) exceeds the total Commitments, the Borrower shall immediately repay Borrowings in an aggregate principal amount sufficient to eliminate any such excess.
SECTION 2.03.    Requests for Revolving Borrowings. To request a Revolving Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a Eurocurrency Borrowing in Dollars, not later than 11:00 a.m., Chicago time, three Business Days before the date of the proposed Borrowing, (b) in the case of a Eurocurrency Borrowing in an Alternative Currency not later than 11:00 a.m., Chicago time, three Business Days before the date of the proposed Borrowing, or (c) in the case of an ABR Borrowing, not later than 11:00 a.m., Chicago time, one Business Day before the date of the proposed 
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Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request in a form approved by the Administrative Agent and signed by the Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of such Borrowing, which shall be a Business Day;
(iii) whether such Borrowing is to be an ABR Borrowing or a Eurocurrency Borrowing;
(iv) in the case of a Eurocurrency Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period” and the Agreed Currency applicable thereto; and
(v) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.07.
If no election as to the Type of Revolving Borrowing is specified, then the requested Revolving Borrowing shall be an ABR Borrowing.  If no Interest Period is specified with respect to any requested Eurocurrency Revolving Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.
SECTION 2.04.    [Section Intentionally Omitted]. 
SECTION 2.05.    [Section Intentionally Omitted]. 
SECTION 2.06.    [Section Intentionally Omitted]. 
SECTION 2.07.    Funding of Borrowings.
(a) Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof solely by wire transfer of immediately available funds (i) in the case of loans denominated in Dollars, by 12:00 noon, Chicago time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders, and (ii) in the case of Loans denominated in an Alternative Currency, by 12:00 noon, Chicago time, in the city of the Administrative Agent’s Eurocurrency Payment Office for such currency, in such funds as may than be customary for the settlement of international transactions in such currency in the city of and at the address of the Administrative Agent’s Eurocurrency Payment Office for such currency, in each case in amount equal to such Lender’s Applicable Percentage.  The Administrative Agent will make such Loans available to the Borrower by promptly crediting the funds so received in the aforesaid account of the Administrative Agent to an account of the 
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Borrower maintained with the Administrative Agent in Chicago and designated by the Borrower in the applicable Borrowing Request.
(b) Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with paragraph (a) of this Section and may, in reliance upon such assumption, make available to the Borrower a corresponding amount.  In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation (including, without limitation, the LIBO Rate for overnight deposits in the case of Loans in an Alternative Currency) or (ii) in the case of the Borrower, the interest rate applicable to ABR Loans. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing.
(c) Each Lender at its option may make any Loan to any Borrower by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan (and in the case of an Affiliate, the provisions of Sections 2.14, 2.15, 2.16 and 2.17 shall apply to such Affiliate to the same extent as to such Lender); provided that any exercise of such option shall not affect the obligation of the relevant Borrower to repay such Loan in accordance with the terms of this Agreement.
SECTION 2.08.   Interest Elections.
(a) Each Revolving Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurocurrency Revolving Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurocurrency Revolving Borrowing, may elect Interest Periods therefor, all as provided in this Section.  The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. 
(b) To make an election pursuant to this Section, the Borrower shall notify the Administrative Agent of such election by (i) telephone or in writing in the case of a Borrowing in Dollars and (ii) in written notice in the case of a Borrowing in an Alternative Currency, by the time that a Borrowing Request would be required under Section 2.03 if the Borrower were requesting a Revolving Borrowing of the Type resulting from such election to be made on the effective date of such election.  Each such Interest Election Request shall be irrevocable and each telephonic Interest Election Request shall be confirmed promptly by hand delivery or telecopy to 
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the Administrative Agent of a written Interest Election Request in a form approved by the Administrative Agent and signed by the Borrower.
(c) Each telephonic and written Interest Election Request shall specify the following information in compliance with Section 2.02:
(i) the Borrowing to which such Interest Election Request applies and, if different options are being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) below shall be specified for each resulting Borrowing);
(ii) the effective date of the election made pursuant to such Interest Election Request, which shall be a Business Day;
(iii) whether the resulting Borrowing is to be an ABR Borrowing or a Eurocurrency Borrowing; and
(iv) if the resulting Borrowing is a Eurocurrency Borrowing, the Interest Period and the Agreed Currency to be applicable thereto after giving effect to such election, which Interest Period shall be a period contemplated by the definition of the term “Interest Period”.
If any such Interest Election Request requests a Eurocurrency Borrowing but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration.
(d) Promptly following receipt of an Interest Election Request, the Administrative Agent shall advise each Lender of the details thereof and of such Lender’s portion of each resulting Borrowing.
(e) If the Borrower fails to deliver a timely Interest Election Request with respect to a Eurocurrency Revolving Borrowing prior to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period (i) in the case of a Borrowing denominated in Dollars, such Borrowing shall be converted to an ABR Borrowing, and (ii) in the case of a Borrowing denominated in an Alternative Currency, such Borrowing shall automatically continue as a Eurocurrency Borrowing in the same Agreed Currency with an Interest Period of one month.  Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing (i) no outstanding Revolving Borrowing denominated in Dollars may be converted to or continued as a Eurocurrency Borrowing and (ii) unless repaid, each Eurocurrency Revolving Borrowing denominated in Dollars shall be converted to an ABR Borrowing at the end of the Interest Period applicable thereto, and (iii) unless repaid, each Eurocurrency Revolving Borrowing denominated in an Alternative Currency shall automatically be continued as a Eurocurrency Borrowing with an Interest Period of one month.
SECTION 2.09.    Termination and Reduction of Commitments.
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(a) Unless previously terminated, the Commitments shall terminate on the Maturity Date. The Borrower may at any time terminate, or from time to time reduce, the Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is an integral multiple of $____________ and (ii) the Borrower shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.11, the sum of the Revolving Credit Exposures would exceed the total Commitments.
(b) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Commitments under paragraph (b) of this Section at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, 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. Any termination or reduction of the Commitments shall be permanent. Each reduction of the Commitments shall be made ratably among the Lenders in accordance with their respective Commitments.
SECTION 2.10.    Repayment of Loans; Evidence of Debt.
(a) The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Lender the then unpaid principal amount of each Revolving Loan on the Maturity Date. 
(b) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.
(c) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class and Type thereof and the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.
(d) The entries made in the accounts maintained pursuant to paragraph (b) or (c) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement.
(e) Any Lender may request that Loans made by it be evidenced by a promissory note.  In such event, the Borrower shall prepare, execute and deliver to such Lender a 
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promissory note payable to such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such form.
SECTION 2.11.    Prepayment of Loans.
(a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, subject to prior notice in accordance with paragraph (b) of this Section.  Any prepayment shall be subject to Section 2.16
(b) The Borrower shall notify the Administrative Agent by telephone (confirmed by telecopy) of any prepayment hereunder (i) in the case of prepayment of a Eurocurrency Revolving Borrowing denominated in Dollars, not later than 11:00 a.m., Chicago time, three Business Days before the date of prepayment, (ii) in the case of prepayment of a Eurocurrency Revolving Borrowing denominated in an Alternative Currency, not later than 11:00 a.m., Chicago time, three Business Days before the date of prepayment, or (iii) in the case of prepayment of an ABR Revolving Borrowing, not later than 11:00 a.m., Chicago time, one Business Day before the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid; provided that, if a notice of prepayment is given in connection with a conditional notice of termination of the Commitments as contemplated by Section 2.09, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.09.  Promptly following receipt of any such notice relating to a Revolving Borrowing, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Revolving Borrowing shall be in an amount that would be permitted in the case of an advance of a Revolving Borrowing of the same Type as provided in Section 2.02.  Each prepayment of a Revolving Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing.  Prepayments shall be accompanied by accrued interest to the extent required by Section 2.13.
(c) The Borrower shall make such prepayments as required under Section 2.02(d).
SECTION 2.12.    Fees.
(a) The Borrower agrees to pay to the Administrative Agent for the account of each Lender a commitment fee, which shall accrue at the Applicable Rate on the daily amount of the undrawn portion of the Revolving Commitment of such Lender during the period from and including the closing to but excluding the date on which such Commitment terminates.   Accrued commitment fees shall be payable in arrears on the  last day of March, June, September and December of each year and on the date on which the Commitments terminate, commencing on the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
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(b) [Paragraph intentionally omitted].
(c) The Borrower agrees to pay to the Administrative Agent, for its own account, fees payable in the amounts and at the times separately agreed upon between the Borrower and the Administrative Agent.
(d) All fees payable hereunder shall be paid on the dates due, in immediately available funds, to the Administrative Agent for distribution, in the case of facility fees and participation fees, to the Lenders.  Fees paid shall not be refundable under any circumstances.
SECTION 2.13.    Interest.
(a) The Loans comprising each ABR Borrowing shall bear interest at the Alternate Base Rate plus the Applicable Rate. The Loans comprising each Eurocurrency Borrowing shall bear interest at the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Rate.
(b) Notwithstanding the foregoing, during the occurrence and continuance of an Event of Default, the Administrative Agent or the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 9.02 requiring the consent of “each Lender affected thereby” for reductions in interest rates), (i) all Loans shall bear interest at 2% plus the rate otherwise applicable to such Loan as provided in the preceding paragraph of this Section or (ii) in the case of any other amount, such amount shall accrue at 2% plus the rate applicable to such fee or other obligation as provided herein.
(c) Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and, in the case of Revolving Loans, upon termination of the Commitments; provided that (i) interest accrued pursuant to paragraph (d) of this Section shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan (other than a prepayment of an ABR Revolving Loan prior to the end of the Availability Period), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment and (iii) in the event of any conversion of any Eurocurrency Revolving Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion.
(d) All interest hereunder shall be computed on the basis of a year of 360 days, except that (i) interest on Borrowings denominated in an Alternative Currency for which it is required by applicable law or customary to compute interest on the basis of a year of 365 days (or 366 days in a leap year, if required or customary) and (ii)interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO Rate or LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.
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SECTION 2.14.    Alternate Rate of Interest; Illegality.
(a) If prior to the commencement of any Interest Period for a Eurocurrency Borrowing:
(i) the Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining the Adjusted LIBO Rate or the LIBO Rate, as applicable (including, without limitation, because the LIBO Screen Rate is not available or published on a current basis), for the applicable currency and such Interest Period; provided that no Benchmark Transition Event shall have occurred; or
(ii) the Administrative Agent is advised by the Required Lenders that the Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest Period will not adequately and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their Loans (or its Loan) included in such Borrowing for such Interest Period;
then the Administrative Agent shall give notice thereof to the Borrower and the Lenders through Electronic System as provided in Section 9.01 as promptly as practicable thereafter and, until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, (A) any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurocurrency Borrowing shall be ineffective and any such Eurocurrency Borrowing shall be repaid or converted into an ABR Borrowing on the last day of the then current Interest Period applicable thereto, and (B) if any Borrowing Request requests a Eurocurrency Borrowing, such Borrowing shall be made as an ABR Borrowing.
(b) If any Lender determines that any Requirement of Law has made it unlawful, or if any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable lending office to make, maintain, fund or continue any Eurocurrency Borrowing, or any Governmental Authority has imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits of, dollars in the London interbank market, then, on notice thereof by such Lender to the Borrower through the Administrative Agent, any obligations of such Lender to make, maintain, fund or continue Eurocurrency Loans or to convert ABR Borrowings to Eurocurrency Borrowings will be suspended until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination no longer exist.  Upon receipt of such notice, the Borrower will upon demand from such Lender (with a copy to the Administrative Agent), either prepay or convert all Eurocurrency Borrowings of such Lender to ABR Borrowings, either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Eurocurrency Borrowings to such day, or immediately, if such Lender may not lawfully continue to maintain such Loans.  Upon any such prepayment or conversion, the Borrower will also pay accrued interest on the amount so prepaid or converted. 
(c) Notwithstanding anything to the contrary herein or in any other Loan Document, upon the occurrence of a Benchmark Transition Event or an Early Opt-in Election, as 
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applicable, the Administrative Agent and the Borrower may amend this Agreement to replace the LIBO Rate with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all Lenders and the Borrower, so long as the Administrative Agent has not received, by such time, written notice of objection to such proposed amendment from Lenders comprising the Required Lenders; provided that, with respect to any proposed amendment containing any SOFR-Based Rate, the Lenders shall be entitled to object only to the Benchmark Replacement Adjustment contained therein.  Any such amendment with respect to an Early Opt-in Election will become effective on the date that Lenders comprising the Required Lenders have delivered to the Administrative Agent written notice that such Required Lenders accept such amendment. No replacement of LIBO Rate with a Benchmark Replacement will occur prior to the applicable Benchmark Transition Start Date.
(d) In connection with the implementation of a Benchmark Replacement, the Administrative Agent will have the right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Benchmark Replacement Conforming Changes will become effective without any further action or consent of any other party to this Agreement.
(e) The Administrative Agent will promptly notify the Borrower and the Lenders of (i) any occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, (ii) the implementation of any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement Conforming Changes and (iv) the commencement or conclusion of any Benchmark Unavailability Period.  Any determination, decision or election that may be made by the Administrative Agent or Lenders pursuant to this Section 2.14, including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action, will be conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent from any other party hereto, except, in each case, as expressly required pursuant to this Section 2.14.
(f) Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, (i) any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurocurrency Borrowing shall be ineffective and any such Eurocurrency Borrowing shall be repaid or converted into an ABR Borrowing on the last day of the then current Interest Period applicable thereto, and (ii) if any Borrowing Request requests a Eurocurrency Borrowing, such Borrowing shall be made as an ABR Borrowing.
SECTION 2.15.    Increased Costs.
(a) If any Change in Law shall:
(i) impose, modify or deem applicable any reserve, special deposit, liquidity or similar requirement (including any compulsory loan requirement, insurance charge or other assessment) against assets of, deposits with or for the 
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account of, or credit extended by, any Lender (except any such reserve requirement reflected in the Adjusted LIBO Rate);
(ii) impose on any Lender or the London interbank market any other condition, cost or expense (other than Taxes) affecting this Agreement or Loans made by such Lender; or
(iii) subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d) of the definition of Excluded Taxes and (C) 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;
and the result of any of the foregoing shall be to increase the cost to such Lender or such other Recipient of making, continuing, converting or maintaining any Loan (or of maintaining its obligation to make any such Loan) or to reduce the amount of any sum received or receivable by such Lender or such other Recipient hereunder (whether of principal, interest or otherwise), then the Borrower will pay to such Lender or such other Recipient, as the case may be, such additional amount or amounts as will compensate such Lender or such other Recipient, as the case may be, for such  additional costs incurred or reduction suffered.
(b) If any Lender determines that any Change in Law regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s capital or on the capital of such Lender’s holding company, if any, as a consequence of this Agreement or the Loans made by such Lender to a level below that which such Lender or such Lender’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s policies and the policies of such Lender’s holding company with respect to capital adequacy and liquidity), then from time to time the Borrower will pay to such Lender, as the case may be, such additional amount or amounts as will compensate such Lender or such Lender’s holding company for any such reduction suffered.
(c) A certificate of a Lender setting forth the amount or amounts necessary to compensate such Lender or its holding company, as the case may be, as specified in paragraph (a) or (b) of this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within 10 days after receipt thereof.
(d) Failure or delay on the part of any Lender to demand compensation pursuant to this Section shall not constitute a waiver of such Lender’s right to demand such compensation; provided that the Borrower shall not be required to compensate a Lender pursuant to this Section for any increased costs or reductions incurred more than 270 days prior to the date that such Lender notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s intention to claim compensation therefor; provided further that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 270-day period referred to above shall be extended to include the period of retroactive effect thereof.
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SECTION 2.16.    Break Funding Payments.  In the event of (a) the payment of any principal of any Eurocurrency Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurocurrency Loan other than on the last day of the Interest Period applicable thereto, (c) the failure to borrow, convert, continue or prepay any Eurocurrency Loan on the date specified in any notice delivered pursuant hereto (regardless of whether such notice may be revoked under Section 2.11(b) and is revoked in accordance therewith), or (d) the assignment of any Eurocurrency Loan other than on the last day of the Interest Period applicable thereto as a result of a request by the Borrower pursuant to Section 2.19, then, in any such event, the Borrower shall compensate each Lender for the loss, cost and expense attributable to such event. In the case of a Eurocurrency Loan, such loss, cost or expense to any Lender shall be deemed to include an amount determined by such Lender to be the excess, if any, of (i) the amount of interest which would have accrued on the principal amount of such Loan had such event not occurred, at the Adjusted LIBO Rate that would have been applicable to such Loan, for the period from the date of such event to the last day of the then current Interest Period therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for such Loan), over (ii) the amount of interest which would accrue on such principal amount for such period at the interest rate which such Lender would bid were it to bid, at the commencement of such period, for dollar deposits of a comparable amount and period from other banks in the Eurocurrency market.  A certificate of any Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within 10 days after receipt thereof.
SECTION 2.17.    Payments Free of Taxes.
(a) Payments Generally.  Any and all payments by or on account of any obligation of any Loan Party under any Loan Document shall be made without deduction or withholding for any Taxes, except as required by applicable law.  If any applicable law (as determined in the good faith discretion of an applicable withholding agent) requires the deduction or withholding of any Tax from any such payment by a withholding agent, then the applicable withholding agent shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, if such Tax is an Indemnified Tax, then the sum payable by the applicable Loan Party shall be increased as necessary so that after such deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under this Section 2.17) the applicable Recipient receives an amount equal to the sum it would have received had no such deduction or withholding been made.
(b) Payment of Other Taxes by the Borrower.  The Loan Parties shall timely pay to the relevant Governmental Authority in accordance with applicable law, or at the option of the Administrative Agent timely reimburse it for, Other Taxes.
(c) Evidence of Payments.  As soon as practicable after any payment of Taxes by any Loan Party to a Governmental Authority pursuant to this Section 2.17, such Loan Party shall deliver to the Administrative Agent 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 the Administrative Agent.
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(d) Indemnification by the Borrower.  The Loan Parties shall indemnify each Recipient, within 10 days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section) payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified 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 the Borrower by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error.
(e) Indemnification by the Lenders.  Each Lender shall severally indemnify the Administrative Agent, within 10 days after demand therefor, for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that any Loan Party has not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Loan Parties to do so), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 9.04(c) relating to the maintenance of a Participant Register and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by the Administrative Agent in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error.  Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by the Administrative Agent to the Lender from any other source against any amount due to the Administrative Agent under this paragraph (e).
(f) Status of Lenders.
(i) Any 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 and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation reasonably requested by the Borrower or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding.  In addition, any Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements.  Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in Section 2.17(f)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender. 
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(ii) Without limiting the generality of the foregoing, in the event that the Borrower is a Person,
(A) any Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), an executed IRS Form W-9 certifying that such Lender is exempt from U.S. Federal backup withholding tax;
(B) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), whichever of the following is applicable:
(1) in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, an executed IRS Form W-8BEN-E or IRS Form W-8BEN 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-E or IRS Form W-8BEN 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) in the case of a Foreign Lender claiming that its extension of credit will generate U.S. effectively connected income, an executed IRS Form W-8ECI;
(3) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit B-1 to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) an executed IRS Form W-8BEN-E or IRS Form W-8BEN; or
(4) to the extent a Foreign Lender is not the beneficial owner, an executed IRS Form W-8IMY, accompanied by IRS 
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Form W-8ECI, IRS Form W-8BEN-E, IRS Form W-8BEN, a U.S. Tax Compliance Certificate substantially in the form of Exhibit B-2 or Exhibit B-3, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit B-4 on behalf of each such direct and indirect partner;
(C) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed originals of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. Federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable law to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to be made; and
(D) 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.
Each Lender agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so.
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(g) 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 2.17 (including by the payment of additional amounts pursuant to this Section 2.17), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this Section 2.17 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 (g) (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 (g), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this paragraph (g) 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.
(h) Survival.  Each party’s obligations under this Section 2.17 shall survive the resignation or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all obligations under any Loan Document.
(i) Defined Terms.  For purposes of this Section 2.17, the term “applicable law” includes FATCA.
SECTION 2.18.    Payments Generally; Pro Rata Treatment; Sharing of Set-offs.
(a) The Borrower shall make each payment required to be made by it hereunder (whether of amounts payable under Section 2.15, 2.16 or 2.17, or otherwise) prior to (i) in the case of payments denominated in Dollars, 12:00 noon, Chicago time, and (ii) in the case of payments denominated in an Alternative Currency, 12:00 noon in the city of the Administrative Agent’s Eurocurrency Payment Office for such currency, in each case on the date when due, in immediately available funds, without set off or counterclaim.  Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon.  All such payments shall be made in the same currency in which the applicable Borrowing was made to the Administrative Agent at its offices at 10 South Dearborn Street, Chicago, Illinois 60603 or, in the case of an Alternative Currency, the Administrative Agent’s Eurocurrency Payment Office for such currency, except that payments pursuant to Sections 2.15, 2.16, 2.17 and 9.03 shall be made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments denominated in the same currency received by it for the account of any other Person to the appropriate recipient promptly following receipt thereof.  If any payment hereunder shall be due on a day that is not a Business Day, the date for payment 
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shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal, interest and fees then due hereunder, such funds shall be applied towards payment of interest and fees then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest and fees then due to such parties.
(b) Notwithstanding the foregoing provisions of this Section, if, after the making of any Borrowing in any Alternative Currency, currency control or exchange regulations are imposed in the country which issues such Alternative Currency with the result that the type of currency in which the Borrowing was made (the “Original Currency”) no longer exists or the Borrower is not able to make payment to the Administrative Agent for the account of the Lenders in such Original Currency, then all payments to be made by the Borrower hereunder in such currency shall instead be made when due in Dollars in an amount equal to the Dollar Amount (as of the date of repayment) of such payment due, it being the intention of the parties hereto that the Borrower take all risks of the imposition of any such currency control or exchange regulations.
(c) Notwithstanding anything to the contrary contained in this Agreement, unless so directed by the Borrower, or unless a Default is in existence, neither the Administrative Agent nor any Lender shall apply any payment which it receives to any Eurocurrency Loan of a Class, except (i) on the expiration date of the Interest Period applicable thereto, or (ii) in the event, and only to the extent, that there are no outstanding ABR Loans of the same Class and, in any such event, the Borrower shall pay the break funding payment required in accordance with Section 2.16. The Administrative Agent and the Lenders shall have the continuing and exclusive right to apply and reverse and reapply any and all such proceeds and payments to any portion of the Secured Obligations.  
(d) If any Lender shall, by exercising any right of set off or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Revolving Loans resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Revolving Loans and accrued interest thereon than the proportion received by any other Lender, then the Lender receiving such greater proportion shall purchase (for cash at face value) participations in the Revolving Loans of other Lenders to the extent necessary so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Revolving Loans; provided that (i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not be construed to apply to any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans to any assignee or participant, other than to the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of set-off and counterclaim 
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with respect to such participation as fully as if such Lender were a direct creditor of the Borrower in the amount of such participation.
(e) Unless the Administrative Agent shall have received notice from the Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders, as the case may be, the amount due.  In such event, if the Borrower has not in fact made such payment, then each of the Lenders, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation.
(f) If any Lender shall fail to make any payment required to be made by it hereunder, then the Administrative Agent may, in its discretion and notwithstanding any contrary provision hereof, (i) apply any amounts thereafter received by the Administrative Agent for the account of such Lender to satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations are fully paid, and/or (ii) hold such amounts in a segregated account over which the Administrative Agent shall have exclusive control as cash collateral for, and application to, any future funding obligations of such Lender under any such Section, in the case of each of clause (i) and (ii) above, in any order as determined by the Administrative Agent in its discretion.
SECTION 2.19.    Mitigation Obligations; Replacement of Lenders.  
(a) If any Lender requests compensation under Section 2.15, or if the Borrower is required to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Sections 2.15 or 2.17, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. If any Lender requests compensation under Section 2.15, or if the Borrower is required to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17, or if any Lender becomes Defaulting Lender, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 9.04), all its interests, rights (other than its existing rights to payments pursuant to Sections 2.15 or 2.17) and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided that (i) the 
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Borrower shall have received the prior written consent of the Administrative Agent, which consent shall not unreasonably be withheld, (ii) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.15 or payments required to be made pursuant to Section 2.17, such assignment will result in a reduction in such compensation or payments. A Lender shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply.
SECTION 2.20.    Defaulting Lenders.  Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a Defaulting Lender, then the following provisions shall apply for so long as such Lender is a Defaulting Lender:
(a) fees shall cease to accrue on the unfunded portion of the Commitment of such Defaulting Lender pursuant to Section 2.12(a);
(b) the Commitment and Revolving Credit Exposure of such Defaulting Lender shall not be included in determining whether the Required Lenders have taken or may take any action hereunder (including any consent to any amendment, waiver or other modification pursuant to Section 9.02); provided that this clause (b) shall not apply to the vote of a Defaulting Lender in the case of an amendment, waiver or other modification requiring the consent of such Lender or each Lender affected thereby; 
(c) [paragraph intentionally omitted];
(d) [paragraph intentionally omitted]. 
SECTION 2.21.    Returned Payments.  If, after receipt of any payment which is applied to the payment of all or any part of the Obligations (including a payment effected through exercise of a right of setoff), the Administrative Agent or any Lender is for any reason compelled to surrender such payment or proceeds to any Person because such payment or application of proceeds is invalidated, declared fraudulent, set aside, determined to be void or voidable as a preference, impermissible setoff, or a diversion of trust funds, or for any other reason (including pursuant to any settlement entered into by the Administrative Agent or such Lender in its discretion), then the Obligations or part thereof intended to be satisfied shall be revived and continued and this Agreement shall continue in full force as if such payment or proceeds had not been received by the Administrative Agent or such Lender.  The provisions of this Section 2.21 shall be and remain effective notwithstanding any contrary action which may have been taken by the Administrative Agent or any Lender in reliance upon such payment or application of proceeds.  The provisions of this Section 2.21 shall survive the termination of this Agreement.
SECTION 2.22.    Banking Services and Swap Agreements.  Each Lender or Affiliate thereof providing Banking Services for, or having Swap Agreements with, any Loan Party shall deliver to the Administrative Agent, promptly after entering into such Banking Services or Swap Agreements, written notice setting forth the aggregate amount of all Banking Services Obligations and Swap Agreement Obligations of such Loan Party to such Lender or Affiliate 
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(whether matured or unmatured, absolute or contingent).  In furtherance of that requirement, each such Lender or Affiliate thereof shall furnish the Administrative Agent, from time to time after a significant change therein or upon a request therefor, a summary of the amounts due or to become due in respect of such Banking Services Obligations and Swap Agreement Obligations.  The most recent information provided to the Administrative Agent shall be used in determining which tier of the waterfall, contained in Section 2.18(c), in which such Banking Services Obligations and/or Swap Agreement Obligations will be placed. 
SECTION 2.23.    Judgment Currency.  If for the purposes of obtaining judgment in any court it is necessary to convert a sum due from the Borrower hereunder in the currency expressed to be payable herein (the “specified currency ”) into another currency, the parties hereto agree, to the fullest extent that they may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent could purchase the specified currency with such other currency at the Administrative Agent’s main New York City office on the Business Day preceding that on which final, non-appealable judgment is given.  The obligations of the Borrower in respect of any sum due to any Lender or the Administrative Agent hereunder shall, notwithstanding any judgment in a currency other than the specified currency, be discharged only to the extent that on the Business Day following receipt by such Lender or the Administrative Agent (as the case may be) of any sum adjudged to be so due in such other currency such Lender or the Administrative Agent (as the case may be) may in accordance with normal, reasonable banking procedures purchase the specified currency with such other currency.  If the amount of the specified currency so purchased is less than the sum originally due to such Lender or the Administrative Agent, as the case may be, in the specified currency, the Borrower agrees, to the fullest extent that it may effectively do so, as a separate obligation and notwithstanding any such judgment, to indemnify such Lender or the Administrative Agent, as the case may be, against such loss, and if the amount of the specified currency so purchased exceeds (a) the sum originally due to any Lender or the Administrative Agent, as the case may be, in the specified currency and (b) any amounts shared with other Lenders as a result of allocations of such excess as a disproportionate payment to such Lender under Section 2.19, such Lender or the Administrative Agent, as the case may be, agrees to remit such excess to such Borrower.
ARTICLE III
Representations and Warranties
The Borrower represents and warrants to the Lenders that:
SECTION 3.01.    Organization; Powers.  Each of the Borrower and its Subsidiaries is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, has all requisite power and authority to carry on its business as now conducted and, except where the failure  to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, is qualified to do business in, and is in good standing in, every jurisdiction where such qualification is required.
SECTION 3.02.    Authorization; Enforceability. The Transactions are within the Borrower’s corporate powers and have been duly authorized by all necessary corporate and, if required, stockholder action. This Agreement has been duly executed and delivered by the 
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Borrower and constitutes a legal, valid and binding obligation of the Borrower, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law.
SECTION 3.03.    Governmental Approvals; No Conflicts. The Transactions (a) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except such as have been obtained or made and are in full force and effect, (b) will not violate any applicable law or regulation or the charter, by-laws or other organizational documents of the Borrower or any of its Subsidiaries or any order of any Governmental Authority, (c) will not violate or result in a default under any indenture, agreement or other instrument binding upon the Borrower or any of its Subsidiaries or its assets, or give rise to a right thereunder to require any payment to be made by the Borrower or any of its Subsidiaries, and (d) will not result in the creation or imposition of any Lien on any asset of the Borrower or any of its Subsidiaries.
SECTION 3.04.    Financial Condition; No Material Adverse Change.
(a) The Borrower has heretofore furnished to the Lenders its consolidated balance sheet and statements of income, stockholders equity and cash flows as of and for the fiscal year ended _________, reported on by Deloitte & Touche LLP, independent public accountants.  Such financial statements present fairly, in all material respects, the financial position and results of operations and cash flows of the Borrower and its consolidated Subsidiaries as of such dates and for such periods in accordance with GAAP.
(b) Since _____________, there has been no material adverse change in the business, assets, operations, prospects or condition, financial or otherwise, of the Borrower and its Subsidiaries, taken as a whole.
SECTION 3.05.    Properties.
(a) Each of the Borrower and its Subsidiaries has good title to, or valid leasehold interests in, all its real and personal property material to its business, except for minor defects in title that do not interfere with its ability to conduct its business as currently conducted or to utilize such properties for their intended purposes.
(b) Each of the Borrower and its Subsidiaries owns, or is licensed to use, all trademarks, trade names, copyrights, patents and other intellectual property material to its business, and the use thereof by the Borrower and its Subsidiaries does not infringe upon the rights of any other Person, except for any such infringements that, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect.
SECTION 3.06.    Litigation and Environmental Matters.
(a) There are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending against or, to the knowledge of the Borrower, threatened against or affecting the Borrower or any of its Subsidiaries (i) as to which there is a reasonable possibility of an adverse determination and that, if adversely determined, could reasonably be 
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expected, individually or in the aggregate, to result in a Material Adverse Effect (other than the Disclosed Matters) or (ii) that involve this Agreement or the Transactions.
(b) Except for the Disclosed Matters and except with respect to any other matters that, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, neither the Borrower nor any of its Subsidiaries (i) has failed to comply with any Environmental Law or to obtain, maintain or comply with any permit, license or other approval required under any Environmental Law, (ii) has become subject to any Environmental Liability, (iii) has received notice of any claim with respect to any Environmental Liability or (iv) knows of any basis for any Environmental Liability.
(c) Since the date of this Agreement, there has been no change in the status of the Disclosed Matters that, individually or in the aggregate, has resulted in, or materially increased the likelihood of, a Material Adverse Effect.
SECTION 3.07.    Compliance with Laws and Agreements.  Each of the Borrower and its Subsidiaries is in compliance with all laws, regulations and orders of any Governmental Authority applicable to it or its property and all indentures, agreements and other instruments binding upon it or its property, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect.  No Default has occurred and is continuing.
SECTION 3.08.    Investment Company Status.  Neither the Borrower nor any of its Subsidiaries is an “investment company” as defined in, or subject to regulation under, the Investment Company Act of 1940.
SECTION 3.09.    Taxes.  Each of the Borrower and its Subsidiaries has timely filed or caused to be filed all Tax returns and reports required to have been filed and has paid or caused to be paid all Taxes required to have been paid by it, except (a) Taxes that are being contested in good faith by appropriate proceedings and for which the Borrower or such Subsidiary, as applicable, has set aside on its books adequate reserves or (b) to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse Effect.
SECTION 3.10.    ERISA.  No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other such ERISA Events for which liability is reasonably expected to exceed $5,000,000 in the aggregate. The present value of all accumulated benefit obligations under each Plan (based on the assumptions used for purposes of Statement of  Financial Accounting Standards No. 87) did not, as of the date of the most recent financial statements reflecting such amounts, exceed the fair market value of the assets of such Plan, and  the present value of all accumulated benefit obligations of all underfunded Plans (based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not, as of the date of the most recent financial statements reflecting such amounts, exceed the fair market value of the assets of all such underfunded Plans.  The Borrower represents and warrants as of the Effective Date that the Borrower is not and will not be using “plan assets” (within the meaning of 29 CFR § 2510.3-101, as modified by Section 3(42) of ERISA) of one or more Benefit Plans in connection with the Loans or the Commitments.
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SECTION 3.11.    Subsidiaries. Schedule 3.11 contains an accurate list of all Subsidiaries of the Borrower as of the date of this Agreement, setting forth their respective jurisdictions of organization and the percentage of their respective capital stock or other ownership interests owned by the Borrower or other Subsidiaries.  All of the issued and outstanding shares of capital stock or other ownership interests of such Subsidiaries have been (to the extent such concepts are relevant with respect to such ownership interests) duly authorized and issued and are fully paid and non-assessable.
SECTION 3.12.    Disclosure. (a) The Borrower has disclosed to the Lenders all agreements, instruments and corporate or other restrictions to which it or any of its Subsidiaries is subject, and all other matters known to it, that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect. Neither the Information Memorandum nor any of the other reports, financial statements, certificates or other information furnished by or on behalf of the Borrower to the Administrative Agent or any Lender in connection with the negotiation of this Agreement or delivered hereunder (as modified or supplemented by other information so furnished) contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that, with respect to projected financial information, the Borrower represents only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time.
(b) As of the Effective Date, to the best knowledge of the Borrower, the information included in the Beneficial Ownership Certification provided on or prior to the Effective Date to any Lender in connection with this Agreement is true and correct in all respects.  
SECTION 3.13.    Material Agreements.  Neither the Borrower nor any Subsidiary is in default in the performance, observance or fulfillment of any of the obligations, covenants or conditions contained in (a) any material agreement to which it is a party or (b) any agreement or instrument evidencing or governing Indebtedness.
SECTION 3.14.    Anti-Corruption Laws and Sanctions. The Borrower has implemented and maintains in effect policies and procedures designed to ensure compliance by the Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, and the Borrower, its Subsidiaries and their respective officers and directors and to the knowledge of the Borrower its employees and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects.  None of (a) the Borrower, any Subsidiary or any of their respective directors, officers or employees, or (b)  to the knowledge of the Borrower, any agent of the Borrower or any Subsidiary that will act in any capacity in connection with or benefit from the credit facility established hereby, is a Sanctioned Person.   No Borrowing, use of proceeds or other transaction contemplated by this Agreement will violate any Anti-Corruption Law or applicable Sanctions.
SECTION 3.15.    EEA Financial Institutions.  No Loan Party is an EEA Financial Institution.
SECTION 3.16.    Margin Stock.  The Borrower is not engaged and will not engage, principally or as one of its important activities, in the business or purchasing or carrying margin 
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stock (within the meaning of Regulation U issued by the Board), or extending credit for the purpose of purchasing or carrying margin stock.  Following the application of the proceeds of each Borrowing, not more than 25% of the value of the assets (either of the Borrower only or of the Borrower and its Subsidiaries on a consolidated basis) will be margin stock.

ARTICLE IV
Conditions
SECTION 4.01.    Effective Date. The obligations of the Lenders to make Loans hereunder shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 9.02 or delayed in accordance with section 4.03):
(a) The Administrative Agent (or its counsel) shall have received from each party hereto either a counterpart of this Agreement signed on behalf of such party or (ii) written evidence satisfactory to the Administrative Agent (which may include telecopy transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement.
(b) Each of Loan Documents shall have been executed and delivered by the Loan Parties to the Administrative Agent.
(c) The Administrative Agent shall have received favorable written opinions (addressed to the Administrative Agent and the Lenders and dated the Effective Date) of counsel for the Borrower, in form and substance reasonably acceptable to the Lenders, and covering such other matters relating to the Loan Parties, this Agreement, and the Transactions as the Required Lenders shall reasonably request.
(d) The Administrative Agent shall have received such documents and certificates as the Administrative Agent or its counsel may reasonably request relating to the organization, existence and good standing of the Borrower and its Subsidiaries, the authorization of the Transactions and any other legal matters relating to the Borrower and its Subsidiaries, this Agreement and the Transactions, all in form and substance satisfactory to the Administrative Agent and its counsel.
(e) The Administrative Agent shall have received a certificate, dated the Effective Date and signed by the President, a Vice President or a Financial Officer of the Borrower, confirming compliance with the conditions set forth in paragraphs (a) and (b) of Section 4.02.
(f) The Administrative Agent shall have received the results of a recent lien search in the jurisdiction of organization of each Loan Party, and such search shall reveal no Liens on any of the assets of the Loan Parties except for liens permitted by Section 6.02 or discharged on or prior to the Effective Date pursuant to a payoff letter or other documentation reasonably satisfactory to the Administrative Agent.
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(g) The Administrative Agent shall have received a notice setting forth the deposit account of the Borrowers (the “Funding Account”) to which the Lender is authorized by the Borrowers to transfer the proceeds of any Borrowings requested or authorized pursuant to this Agreement.
(h) The Administrative Agent shall have received (i) satisfactory audited consolidated financial statements of the Borrower for the two most recent fiscal years ended prior to the Effective Date as to which such financial statements are available, and (ii) satisfactory unaudited interim consolidated financial statements of the Borrower for each fiscal quarter ended subsequent to the date of the latest financial statements delivered pursuant to clause (i) of this paragraph as to which such financial statements are available.
(i) [Paragraph intentionally omitted].
(j) Other than Indebtedness permitted by Section 6.01, the Administrative Agent shall have received satisfactory evidence of prepayment in full of all the Borrower’s obligations under existing loan facilities, termination of the commitments thereunder and release of all liens, if any, granted thereunder.
(k) The Administrative Agent shall have received, (x) at least five (5) days prior to the Effective Date, all documentation and other information regarding the Borrower requested in connection with applicable “know your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act, to the extent requested in writing of the Borrower at least ten (10) days prior to the Effective Date, and (y) a properly completed and signed IRS Form W-8 or W-9, as applicable, for each Loan Party, and (ii) to the extent the Borrower qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, at least five (5) days prior to the Effective Date, any Lender that has requested, in a written notice to the Borrower at least (10) days prior to the Effective Date, a Beneficial Ownership Certification in relation to the Borrower shall have received such Beneficial Ownership Certification (provided that, upon the execution and delivery by such Lender of its signature page to this Agreement, the condition set forth in this clause (ii) shall be deemed to be satisfied).
(l) The Administrative Agent shall have received such other documents as the Administrative Agent, any Lender or their respective counsel may have reasonably requested.
(m) The Administrative Agent shall have received all fees and other amounts due and payable under the fee letter dated May 14, 2020 between the Borrower and the Administrative Agent, and all other fees and expenses required to be paid under this Agreement on or prior to the Effective Date, including, to the extent invoiced, reimbursement or payment of all out of pocket expenses required to be reimbursed or paid by the Borrower hereunder.
(n) [Paragraph intentionally omitted].
The Administrative Agent shall notify the Borrower and the Lenders of the Effective Date, and such notice shall be conclusive and binding. Notwithstanding the foregoing, the obligations of the Lenders to make Loans hereunder shall not become effective unless each of the foregoing conditions is satisfied (or waived pursuant to Section 9.02) at or prior to 3:00 p.m., Chicago time, 
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on July 31, 2018 (and, in the event such conditions are not so satisfied or waived, the Commitments shall terminate at such time).
SECTION 4.02.    Each Credit Event. The obligation of each Lender to make a Loan on the occasion of any Borrowing is subject to the satisfaction of the following conditions:
(a) The representations and warranties of the Borrower set forth in this Agreement shall be true and correct on and as of the date of such Borrowing.
(b) At the time of and immediately after giving effect to such Borrowing, no Default shall have occurred and be continuing.
Each Borrowing shall be deemed to constitute a representation and warranty by the Borrower on the date thereof as to the matters specified in paragraphs (a) and (b) of this Section.
ARTICLE V
Affirmative Covenants
Until the Commitments have expired or been terminated and the principal of and interest on each Loan and all fees payable hereunder shall have been paid in full, without any pending draw, the Borrower covenants and agrees with the Lenders that:
SECTION 5.01.    Financial Statements; Ratings Change and Other Information. The Borrower will furnish to the Administrative Agent and each Lender, including their Public-Siders:
(a) within 90 days after the end of each fiscal year of the Borrower, its audited consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of  and for such year, setting forth in each case in comparative form the figures for the previous fiscal year, all reported on by Deloitte & Touche LLP or other independent public accountants of recognized national standing  (without a “going concern” or like qualification commentary or exception and without any qualification or exception as to the scope of such audit) to the effect that such consolidated financial statements present fairly in all material respects the financial condition and results of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied;
(b) within 45 days after the end of each of the first three fiscal quarters of each fiscal year of the Borrower, its consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such fiscal quarter and the then elapsed portion of the fiscal year, setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal year, all certified by one of its Financial Officers as presenting fairly in all material respects the financial condition and results of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes;
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(c) The Borrower represents and warrants that it, its controlling Person and any Subsidiary, in each case, if any, either (i) has no registered or publicly traded securities outstanding, or (ii) files its financial statements with the SEC and/or makes its financial statements available to potential holders of its 144A securities, and, accordingly, the Borrower hereby (A) authorizes the Administrative Agent to make the financial statements to be provided under Section 5.01(a) and (b) above, along with the Loan Documents, available to Public-Siders and (B) agrees that at the time such financial statements are provided hereunder, they shall already have been made available to holders of its securities.  The Borrower will not request that any other material be posted to Public-Siders without expressly representing and warranting to the Administrative Agent in writing that such materials do not constitute material non-public information within the meaning of the federal securities laws or that the Borrower has no outstanding publicly traded securities, including 144A securities.  Notwithstanding anything herein to the contrary, in no event shall the Borrower request that the Administrative Agent make available to Public-Siders budgets or any certificates, reports or calculations with respect to the Borrower’s compliance with the covenants contained herein.
(d) concurrently with any delivery of financial statements under clause (a) or (b) above, a certificate of a Financial Officer of the Borrower (i) certifying as to whether a Default has occurred and, if a Default has occurred, specifying the details thereof and any action taken or proposed to be taken with respect thereto, (ii) setting forth reasonably detailed calculations demonstrating compliance with Section 6.11 and (iii) stating whether any change in GAAP or in the application thereof has occurred since the date of the audited financial statements referred to in Section 3.04 and, if any such change has occurred, specifying the effect of such change on the financial statements accompanying such certificate;
(e) promptly after the same become publicly available, copies of all periodic and other reports, proxy statements and other materials filed by the Borrower or any Subsidiary with the SEC, or any Governmental Authority succeeding to any or all of the functions of said Commission, or with any national securities exchange, or distributed by the Borrower to its shareholders generally, as the case may be; 
(f) promptly following any request therefor, (i) such other information regarding the operations, business affairs and financial condition of the Borrower or any Subsidiary, or compliance with the terms of this Agreement, as the Administrative Agent or any Lender may reasonably request, and (ii) information and documentation reasonably requested by the Administrative Agent or any Lender for purposes of compliance with applicable “know your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act and the Beneficial Ownership Regulation; and
(g)  within 45 days after the end of each fiscal quarter of the Borrower, a report showing (i) the amount of accounts receivable sold and then outstanding as of that most recently completed quarter, both by account debtor and in total;  and (ii) the Borrower’s consolidated total sales for the 4 quarter period then ending.  For the purposes of this provision, (i) accounts receivable that are unsold but with only the passage of time will be sold, and (ii) unsold receivables of an account debtor to the extent such receivables are encumbered by or subject to a Lien shall, without duplication, be considered to have been, and shall be shown as, sold.
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SECTION 5.02.    Notices of Material Events. The Borrower will furnish to the Administrative Agent and each Lender prompt written notice of the following:
(a) the occurrence of any Default;
(b) the filing or commencement of any action, suit or proceeding by or before any arbitrator or Governmental Authority against or affecting the Borrower or any Affiliate thereof that, if adversely determined, could reasonably be expected to result in a Material Adverse Effect;
(c) the occurrence of any ERISA Event that, alone or together with any other ERISA Events that have occurred, could reasonably be expected to result in liability of the Borrower and its Subsidiaries in an aggregate amount exceeding $5,000,000; 
(d) any other development that results in, or could reasonably be expected to result in, a Material Adverse Effect; and
(e) any change in the information provided in the Beneficial Ownership Certification delivered to a Lender that would result in a change to the list of beneficial owners identified in such certification.
Each notice delivered under this Section shall be accompanied by a statement of a Financial Officer or other executive officer of the Borrower setting forth the details of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto.
SECTION 5.03.    Existence; Conduct of Business. The Borrower will, and will cause each of its Subsidiaries to, do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence and the rights, licenses, permits, privileges and franchises material to the conduct of its business; provided that the foregoing shall not prohibit any merger, consolidation, liquidation or dissolution permitted under Section 6.03.
SECTION 5.04.    Payment of Obligations. The Borrower will, and will cause each of its Subsidiaries to, pay its obligations, including Tax liabilities, that, if not paid, could result in a Material Adverse Effect before the same shall become delinquent or in default, except where (a) the validity or amount thereof is being contested in good faith by appropriate proceedings, (b) the Borrower or such Subsidiary has set aside on its books adequate reserves with respect thereto in accordance with GAAP and the failure to make payment pending such contest could not reasonably be expected to result in a Material Adverse Effect.
SECTION 5.05.    Maintenance of Properties; Insurance. The Borrower will, and will cause each of its Subsidiaries to, (a) keep and maintain all property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted, and (b) maintain, with financially sound and reputable insurance companies, insurance in such amounts and against such risks as are customarily maintained by companies engaged in the same or similar businesses operating in the same or similar locations.
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SECTION 5.06.    Books and Records; Inspection Rights. The Borrower will, and will cause each of its Subsidiaries to, keep proper books of record and account in which full, true and correct entries are made of all dealings and transactions in relation to its business and activities. The Borrower will, and will cause each of its Subsidiaries to, permit any representatives designated by the Administrative Agent or any Lender, upon reasonable prior notice, to visit and inspect its properties, to examine and make extracts from its books and records, and to discuss its affairs, finances and condition with its officers and independent accountants, all at such reasonable times and as often as reasonably requested.
SECTION 5.07    Compliance with Laws. The Borrower will, and will cause each of its Subsidiaries to, comply with all laws, rules, regulations and orders of any Governmental Authority applicable to it or its property, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. The Borrower will maintain in effect and enforce policies and procedures designed to ensure compliance by the Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions.
SECTION 5.08.    Use of Proceeds . The proceeds of the Loans will be used only for working capital purposes and general corporate purposes of the Borrower and its Subsidiaries. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulations T, U and X. The Borrower will not request any Borrowing, and the Borrower shall not use, and shall procure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of any Borrowing (a) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (b) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, or (c)  in any manner that would result in the violation of any Sanctions applicable to any party hereto.
SECTION 5.09.    Accuracy Of Information.  The Borrower will ensure that any information, including financial statements or other documents, furnished to the Administrative Agent or the Lenders in connection with this Agreement or any amendment or modification hereof or waiver hereunder contains no material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and the furnishing of such information shall be deemed to be a representation and warranty by the Borrower on the date thereof as to the matters specified in this Section 5.09.
SECTION 5.10.    Addition of Guarantors; Addition of Pledged Stock.  The Borrower shall give the Administrative Agent and the Lenders written notice as soon as practicable of the initial capitalization or Acquisition of each new Subsidiary, but, in any event, not later than thirty (30) days after such initial capitalization or Acquisition.  If the Required Lenders require, at any time, the Borrower will cause such new Subsidiary (other than a Subsidiary organized or incorporated outside the United States of America) to become a Loan Guarantor by executing a joinder agreement to this Agreement or by executing an Obligation Guaranty.  Such joinder agreement or Obligation Guaranty shall be executed and delivered within thirty (30) days of the 
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Required Lenders’ request.  With such delivery to the Administrative Agent, the Borrower shall also furnish, or cause to be furnished, to the Administrative Agent (a) copies of the certificate or articles of incorporation of such Loan Guarantor, together with all amendments, and a certificate of good standing or existence, both certified by the appropriate governmental officer in its jurisdiction of incorporation; (b) copies, certified by the Secretary or Assistant Secretary of such Loan Guarantor, of its by-laws and of its Board of Directors’ resolutions (and resolutions of other bodies, if any are reasonably deemed necessary by counsel for any Lender) authorizing the execution of the Loan Guaranty; (c) an incumbency certificate, executed by the Secretary or Assistant Secretary of such Loan Guarantor, which shall identify by name and title and bear the signature of the officers of such Loan Guarantor authorized to sign the Loan Guaranty; and (d) a favorable written opinion of such Loan Guarantor’s counsel, addressed to the Administrative Agent in a form acceptable to the Administrative Agent, opining (i) as to such Loan Guarantor’s existence, (ii) as to such Loan Guarantor’s authorization to execute the Loan Guaranty, (iii) as to the enforceability of the Loan Guaranty, and (iv) that the execution and performance of the Loan Guaranty will not conflict with or result in a breach under any material contract, indenture, instrument or other agreement by which such Loan Guarantor is bound or to which it is party. 
ARTICLE VI
Negative Covenants
Until the Commitments have expired or terminated and the principal of and interest on each Loan and all fees  payable hereunder have been paid in full, without any pending draw, the Borrower covenants and agrees with the Lenders that:
SECTION 6.01.    Indebtedness. The Borrower will not, and will not permit any Subsidiary to, create, incur, assume or permit to exist any Indebtedness, except:
(a) Indebtedness created hereunder;
(b) Indebtedness of the Borrower to any Subsidiary and of any Subsidiary to the Borrower or any other Subsidiary;
(c) Guarantees by the Borrower of Indebtedness of any Subsidiary and by any Subsidiary of Indebtedness of the Borrower or any other Subsidiary, provided, in each case, the Indebtedness is otherwise permitted by this Section 6.01;
(d) Indebtedness secured by Liens not exceeding $5,000,000 at any time outstanding; and
(e) other unsecured Indebtedness in an aggregate principal amount not exceeding at any time outstanding the sum of $50,000,000 minus the amount of secured Indebtedness outstanding as permitted by clause (d) above.
SECTION 6.02.    Liens. The Borrower will not, and will not permit any Subsidiary to, create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter 
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acquired by it, or assign or sell any income or revenues (including accounts receivable) or rights in respect of any thereof, except:
(a) Permitted Encumbrances;
(b) Liens existing on the date hereof and described in Schedule 6.02 and future Liens, provided that the aggregate Indebtedness securing such existing and future Liens does not exceed $5,000,000 in the aggregate outstanding at any time; 
(c) Set-off rights of lenders providing Indebtedness permitted by Section 6.01; 
(d) The sale of accounts receivable as permitted by Section 6.05(c); and
(e) Liens in favor of the Administrative Agent, for the benefit of the Lenders, granted pursuant to any Collateral Document.
SECTION 6.03.    Fundamental Changes.
(a) The Borrower will not, and will not permit any Subsidiary to, merge into or consolidate with any other Person, or permit any other Person to merge into or consolidate with it, or sell, transfer, lease or otherwise dispose of (in one transaction or in a series of transactions) any substantial part of its assets, or all or substantially all of the  stock of any of its Subsidiaries (in each case, whether now owned or hereafter acquired), or liquidate or dissolve, except that, if at the time thereof and immediately after giving effect thereto no Default shall have occurred and be continuing (i) any Subsidiary may merge into the Borrower in a  transaction in which the Borrower is the surviving corporation, (ii) any Subsidiary may merge into any Subsidiary in a transaction in which the surviving entity is a Subsidiary, (iii) any Subsidiary may sell, transfer, lease or otherwise dispose of its assets to the Borrower or to another Subsidiary and (iv) any Subsidiary may liquidate or dissolve if the Borrower determines in good faith that such liquidation or dissolution is in the best interests of the Borrower and is not materially disadvantageous to the Lenders; provided that any such merger involving a Person that is not a wholly owned Subsidiary immediately prior to such merger shall not be permitted unless also permitted by Section 6.04.
(b) The Borrower will not, and will not permit any of its Subsidiaries to, engage to any material extent in any business other than businesses of the type conducted by the Borrower and its Subsidiaries on the date of execution of this Agreement and businesses reasonably related thereto.
SECTION 6.04.    Investments, Guarantees and Acquisitions. The Borrower will not, and will not permit any of its Subsidiaries to, make or suffer to exist any Investments (including, without limitation, Investments in Subsidiaries), or commitments therefor, or Guarantee any obligations of any other Person, or make any Acquisition, except:
(a) Permitted Investments;
(b) Existing Investments in Subsidiaries and other Investments in existence on the date hereof and described in Schedule 6.04;
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(c) Investments by the Borrower in and to the other Loan Guarantors;
(d) Any other Investments by the Borrower not exceeding $10,000,000 in the aggregate outstanding at any time;
(e) Guarantees constituting Indebtedness permitted by Section 6.01; and
(f) Permitted Acquisitions.
SECTION 6.05.    Sale of Assets. The Borrower will not, and will not permit any of its Subsidiaries to, sell, transfer, lease or otherwise dispose of any asset, including any Equity Interest owned by it, other than to the Borrower or another Subsidiary in compliance with Section 6.03, except:
(a) sales, transfers and dispositions of  inventory in the ordinary course of business;
(b) Leases, sales or other dispositions of its assets that, together with all other assets of the Borrower and its Subsidiaries previously leased, sold or disposed of (other than inventory in the ordinary course of business) as permitted by this Section during any fiscal year does not exceed $25,000,000 measured on a fair market value basis; and
(c) So long as there then exists no Event of Default, subject to compliance with Section 5.01(g), the sale on a non-recourse basis of its accounts receivable in an amount outstanding at any time not exceeding 20% of the Borrower’s consolidated sales for 4 quarter period then ending.  For the purposes of this provision, (i) accounts receivable that are unsold but with only the passage of time will be sold, and (ii) unsold receivables of an account debtor to the extent such receivables are encumbered by or subject to a Lien, without duplication, shall be considered to have been sold.   
SECTION 6.06.    Swap Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Swap Agreement, except (a) Swap Agreements entered into to hedge or mitigate risks to which the Borrower or any Subsidiary has actual exposure (other than those in respect of Equity Interests of the Borrower or any of its Subsidiaries), and (b) Swap Agreements entered into in order to effectively cap, collar or exchange interest rates (from fixed to floating rates, from one floating rate to another floating rate or otherwise) with respect to any interest- bearing liability or investment of the Borrower or any Subsidiary.
SECTION 6.07.    Restricted Payments. The Borrower will not, and will not permit any of its Subsidiaries to, declare or make, or agree to pay or make, directly or indirectly, any Restricted Payment, except (a) the Borrower may declare and pay dividends with respect to its Equity Interests payable solely in additional shares of its common stock, (b) Subsidiaries may declare and pay dividends ratably with respect to their Equity Interests, (c) the Borrower may make Restricted Payments pursuant to and in accordance with stock option plans or other benefit plans for management or employees of the Borrower and its Subsidiaries, (d) so long as no Default has occurred and is continuing or will result therefrom and so long as the Fixed Charge Coverage Ratio and the Adjusted Leverage Ratio provided in Section 6.11 will not be violated as 
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a result thereof, the Borrower may declare and pay dividends, and (e) so long as no Default has occurred and is continuing or will result therefrom, the Borrower may repurchase Equity Interests (i) in any amount if the Adjusted Leverage Ratio is less than 1.00 to 1.00 on a pro forma basis after giving effect to such repurchase and the Borrower has Liquidity of not less than $15,000,000 after payment of such repurchase (any repurchase made during a fiscal quarter that ends with an Adjusted Leverage Ratio of greater than 1.00 to 1.00 shall count against and be subject to the limitation provided in (ii) below), or (ii) in an aggregate amount not exceeding $25,000,000 during any 4 quarter period if the Adjusted Leverage Ratio is less than or equal to 2.00 to 1.00 (but greater than 1.00 to 1.00) on a pro forma basis after giving effect to such repurchase and the Borrower has Liquidity of not less than $15,000,000 after payment of such repurchase.  Notwithstanding (e)(i) above, any repurchase made during a fiscal quarter that ends with an Adjusted Leverage Ratio of greater than 1.00 to 1.00, shall count against and be subject to the $25,000,000 limitation provided in (e)(ii) above.
SECTION 6.08.   Transactions with Affiliates. The Borrower will not, and will not permit any of its Subsidiaries to, sell, lease or otherwise transfer any property or assets to, or purchase, lease or otherwise acquire any property or assets from, or otherwise engage in any other transactions with, any of its Affiliates, except (a) in the ordinary course of business at prices and on terms and conditions not less favorable to the Borrower or such Subsidiary than could be obtained on an arm’s-length basis from unrelated third parties, (b) transactions between or among the Borrower and its Subsidiaries not involving any other Affiliate and (c) any Restricted Payment permitted by Section 6.07.
SECTION 6.09.    Restrictive Agreements. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any Subsidiary to create, incur or permit to exist any Lien upon any of its property or assets, or (b) the ability of any Subsidiary to pay dividends or other distributions with respect to any shares of its capital stock or to make or repay loans or advances to the Borrower or any other Subsidiary or to Guarantee Indebtedness of the Borrower or any other Subsidiary; provided that (i) the foregoing shall not apply to restrictions and conditions imposed by law or by this Agreement, (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.09 (but shall apply to any extension or renewal of, or any amendment or modification expanding the scope of, any such restriction or condition), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of a Subsidiary pending such sale, provided that such restrictions and conditions apply only to the Subsidiary that is to be sold and such sale is permitted hereunder, (iv) clause (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to secured Indebtedness permitted by this Agreement if such restrictions or conditions apply only to the property or assets securing such Indebtedness and (v) clause (a) of the foregoing shall not apply to customary provisions in leases restricting the assignment thereof.
SECTION 6.10.    Amendment of Organizational Documents.  The Borrower will not, and will not permit any of its Subsidiaries to, amend, modify or waive any of its rights under its charter, articles or certificate of organization or incorporation and bylaws or operating, 
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management or partnership agreement, or other organizational or governing documents, to the extent any such amendment, modification or waiver would be adverse to the Lenders.
SECTION 6.11.    Financial Covenants. 
(a) Adjusted Leverage Ratio.  The Borrower will not permit its Adjusted Leverage Ratio to be greater than 3.00 to 1.00 as of each fiscal quarter end.
(b) Fixed Charge Coverage Ratio.  The Borrower will not permit its Fixed Charge Coverage Ratio to be less than 1.10 to 1.00 as of each fiscal quarter end.
ARTICLE VII
Events of Default
If any of the following events (“Events of Default”) shall occur:
(a) the Borrower shall fail to pay any principal of any Loan when and as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise;
(b) the Borrower shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount referred to in clause (a) of this Article) payable under this Agreement or any other Loan Document, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of five days;
(c) any representation or warranty made or deemed made by or on behalf of the Borrower or any Subsidiary in or in connection with this Agreement, any other Loan Document or any amendment or modification thereof or waiver thereunder, or in any report, certificate, financial statement or other document furnished pursuant to or in connection with this Agreement, any other Loan Document, or any amendment or modification thereof or waiver thereunder, shall prove to have been incorrect in any material respect when made or deemed made;
(d) the Borrower shall fail to observe or perform any covenant, condition or agreement contained in Sections 4.03(b), 5.02, 5.03 (with respect to the Borrower’s existence) or 5.08 or in Article VI;
(e) the Borrower shall fail to observe or perform any covenant, condition or agreement contained in this Agreement (other than those specified in clause (a), (b) or (d) of this Article) or any other Loan Document, and such failure shall continue unremedied for a period of 30 days after notice thereof from the Administrative Agent to the Borrower (which notice will be given at the request of any Lender);
(f) the Borrower or any Subsidiary shall fail to make any payment (whether of principal or interest and regardless of amount) in respect of any Material Indebtedness, when and as the same shall become due and payable;
(g) any event or condition occurs that results in any Material Indebtedness becoming due prior to its scheduled maturity or that enables or permits (with or without the 
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giving of notice, the lapse of time or both) the holder or holders of any Material Indebtedness or any trustee or agent on its or their behalf to cause any Material Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity; provided that this clause (g) shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness;
(h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation, reorganization or other relief in respect of the Borrower or any Subsidiary or its debts, or of a substantial part of its assets, under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any Subsidiary or for a substantial part of its assets, and, in any such case, such proceeding or petition shall continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be entered;
(i) the Borrower or any Subsidiary shall (i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in clause (h) of this Article, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any Subsidiary or for a substantial part of its assets, file an answer admitting the material allegations of a petition filed against it in any such proceeding, make a general assignment for the benefit of creditors or (vi) take any action for the purpose of effecting any of the foregoing;
(j) the Borrower or any Subsidiary shall become unable, admit in writing its inability or fail generally to pay its debts as they become due; 
(k) one or more judgments for the payment of money in an aggregate amount in excess of $5,000,000 shall be rendered against the Borrower, any Subsidiary or any combination thereof and the same shall remain undischarged for a period of 30 consecutive days during which execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of the Borrower or any Subsidiary to enforce any such judgment;
(l) an ERISA Event shall have occurred that, in the opinion of the Required Lenders, when taken together with all other ERISA Events that have occurred, could reasonably be expected to result in liability of the Borrower and its Subsidiaries in an aggregate amount exceeding $5,000,000 in any year;
(m) a Change in Control shall occur;
(n) The occurrence of any “default”, as defined in any Loan Document (other than this Agreement) or the breach of any of the terms or provisions of any Loan Document (other than this Agreement), which default or breach continues beyond any period of grace therein provided; 
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(o) the Loan Guaranty or any Obligation Guaranty shall fail to remain in full force or effect or any action shall be taken to discontinue or to assert the invalidity or unenforceability of the Loan Guaranty or any Obligation Guaranty, or any Loan Guarantor shall fail to comply with any of the terms or provisions of the Loan Guaranty or any Obligation Guaranty to which it is a party, or any Loan Guarantor shall deny that it has any further liability under the Loan Guaranty or any Obligation Guaranty to which it is a party, or shall give notice to such effect, including, but not limited to notice of termination delivered pursuant to Section 10.08 or any notice of termination delivered pursuant to the terms of any Obligation Guaranty; 
(p) The occurrence of any “Event of Default” as defined in the Amended and Restated Credit Agreement dated July 27, 2018 between Borrower, the Lenders, and the Administrative Agents (as those terms as defined therein) (the “Amended and Restated Credit Agreement”) or the breach of any of the terms or provisions of the Amended and Restated Credit Agreement, which default or breach continues beyond any period of grace therein provided; or
(q) The acceleration of the obligations owed by the Borrower under the Amended and Restated Credit Agreement,
then, and in every such event (other than an event with respect to the Borrower described in clause (h) or (i) of this Article), and at any time thereafter during the continuance of such event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to the Borrower, take either or both of the following actions, at the same or different times:  (i) terminate the Commitments, and thereupon the Commitments shall terminate immediately, and (ii) declare the Loans then outstanding to be due and payable in whole (or in part, in which case any principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall become  due and payable immediately, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower. Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent may, and at the request of the Required Lenders shall, increase the rate of interest applicable to the Loans and other Obligations as set forth in this Agreement and exercise any rights and remedies provided to the Administrative Agent under the Loan Documents or at law or equity, including all remedies provided under the UCC.
ARTICLE VIII
The Administrative Agent and Certain ERISA Matters
SECTION 8.01.    The Administrative Agent.
(a) Each of the Lenders hereby irrevocably appoints the Administrative Agent as its agent and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof, together with such actions and powers as are reasonably incidental thereto.
(b) The bank serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the 
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same as though it were not the Administrative Agent, and such bank and its Affiliates may accept deposits from, lend money to and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if it were not the Administrative Agent hereunder.
(c) The Administrative Agent shall not have any duties or obligations except those expressly set forth herein. Without limiting the generality of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing, the Administrative Agent shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby that the Administrative Agent is required to exercise in writing as directed by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in  Section 9.02), and (c) except as expressly set forth herein, the Administrative Agent shall not 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 Subsidiaries that is communicated to or obtained by the bank serving as Administrative Agent or any of its Affiliates in any capacity.  The Administrative Agent shall not be  liable for any action taken or not taken by it with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.02) or 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 written notice thereof is given to the Administrative Agent by the Borrower or a Lender, and 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 in connection herewith, (iii) the performance or observance of any of  the covenants, agreements or other terms or conditions set forth herein, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document, or any other agreement, instrument or document, or he satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent.
(d) The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing believed by it to be genuine and to have been signed or sent by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to be made by the proper Person, and shall not incur any liability for relying thereon. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.
(e) The Administrative Agent may perform any and all its duties and exercise its rights and powers by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all its duties and exercise its rights and powers through their respective Related Parties. The exculpatory provisions of the preceding paragraphs shall apply to any such sub-agent and to the Related 
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Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as Administrative Agent.
(f) Subject to the appointment and acceptance of a successor Administrative Agent as provided in this paragraph, the Administrative Agent may resign at any time by notifying the Lenders and the Borrower. Upon any such resignation, the Required Lenders shall have the right, in consultation with the Borrower, to appoint a successor. If no successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may, on behalf of the Lenders, appoint a successor Administrative Agent which shall be a bank with an office in New York, New York, or an Affiliate of any such bank. Upon the acceptance of its appointment as Administrative Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its duties and obligations hereunder. The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the Administrative Agent’s resignation hereunder, the provisions of this Article and Section 9.03 shall continue in effect for the benefit of such retiring Administrative Agent, its sub agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while it was acting as Administrative Agent.
(g) Each Lender acknowledges and agrees that the extensions of credit made hereunder are commercial loans and letters of credit and not investments in a business enterprise or securities.  Each Lender further represents that it is engaged in making, acquiring or holding commercial loans in the ordinary course of its business and has, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement as a Lender, and to make, acquire or hold Loans hereunder. Each Lender shall, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information (which may contain material, non-public information within the meaning of the United States securities laws concerning the Borrower and its Affiliates) as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any related agreement or any document furnished hereunder or thereunder and in deciding whether or to the extent to which it will continue as a Lender or assign or otherwise transfer its rights, interests and obligations hereunder.
(h) The Lenders hereby empower and authorize the Administrative Agent to execute and deliver to the Borrower on their behalf any agreements, documents or instruments as shall be necessary or appropriate to effect any releases of collateral which shall be permitted by the terms hereof or of any other Loan Document or which shall otherwise have been approved by the Required Lenders (or, if required by the terms of Section 9.02, all of the Lenders) in writing.
(i) In its capacity, the Administrative Agent is a “representative” of the Secured Parties within the meaning of the term “secured party” as defined in the UCC.  In the 
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event that any collateral is hereafter pledged by any Person as collateral security for the Secured Obligations, the Administrative Agent is hereby authorized, and hereby granted a power of attorney, to execute and deliver on behalf of the Secured Parties any Loan Documents necessary or appropriate to grant and perfect a Lien on such collateral in favor of the Administrative Agent on behalf of the Secured Parties.
(j) The Documentation Agent shall not have any right, power, obligation, liability, responsibility or duty under this Agreement other than those applicable to all Lenders as such.  
SECTION 8.02.    Certain ERISA Matters.
(a) Each Lender represents and warrants, as of the date such Person became a Lender party hereto, to, and covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, and each Arranger 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 the Plan Asset Regulations) of one or more Benefit Plans in connection with the Loans 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 Commitments and this Agreement, and the conditions for exemptive relief thereunder are and will continue to be satisfied in connection therewith, 
(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 Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, 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 Commitments and this Agreement, or
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(iv) such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion, and such Lender.
(b) In addition, unless sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or such Lender has not provided another representation, warranty and covenant as provided in sub-clause (iv) in the immediately preceding clause (a), such Lender further represents and warrants, as of the date such Person became a Lender party hereto, to, and covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, and each Arranger 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, or any 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 to 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 Commitments and this Agreement is independent (within the meaning of 29 CFR § 2510.3-21, as amended from time to time) 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 $50,000,000, 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 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 Commitments and this Agreement is a fiduciary under ERISA or the Code, or both, with respect to the Loans, 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, or any Arranger or any their respective Affiliates for investment advice (as opposed to other services) in connection with the Loans, the Commitments or this Agreement.
(c) The Administrative Agent, and each Arranger hereby informs 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 
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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 Commitments and this Agreement, (ii) may recognize a gain if it extended the Loans or the Commitments for an amount less than the amount being paid for an interest in the Loans 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.

ARTICLE IX
Miscellaneous
SECTION 9.01.    Notices.
(a)Except in the case of notices and other communications expressly permitted to be given by telephone (and subject to paragraph (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 telecopy, as follows:
(i) if to the Borrower, to it at 1205 Kimball Blvd, Jasper, Indiana 47546, Attention of Chief Financial Officer (Telecopy No. (812) 634-4154);
(ii) if to the Administrative Agent, to JPMorgan Chase Bank, N.A., Loan and Agency Services Group, 10 South Dearborn Street, 9th Floor, Chicago, Illinois  60603, Attention of Briahna Amos (Telecopy No. (844) 490-5663);
with a copy to JPMorgan Chase Bank, N.A., 1 E. Ohio Street, Floor 04, Indianapolis, Indiana 46204, Attention of _______________ (Telecopy No. (317) 282-0766); and
if related to Alternative Currencies, to J.P. Morgan Europe Limited, 25 Bank Street, Canary Wharf, London E14 5JP, United Kingdom, Attention:  The Manager (Telecopy No. 44 207-777-2360), Email: loan_and_agency_london@jpmorgan.com; and
(iii) if to any other Lender, to it at its address (or telecopy number) set forth in its Administrative Questionnaire.
Notices sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices sent by facsimile shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next business day for the 
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recipient). Notices delivered through Electronic Systems, to the extent provided in paragraph (b) below, shall be effective as provided in said paragraph (b).
(b) Notices and other communications to the Lenders hereunder may be delivered or furnished by using Electronic Systems pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply to notices pursuant to Article II unless otherwise agreed by the Administrative Agent and the applicable Lender. 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), and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient, at its e-mail address as described in the foregoing clause (i), of notification that such notice or communication is available and identifying the website address therefor; provided that, for both clauses (i) and (ii) above, if such notice, email or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next business day for the recipient.
(c) Any party hereto may change its address or telecopy number for notices and other communications hereunder by notice to the other parties hereto.
(d) Electronic Systems.
(i) Each Loan Party agrees that the Administrative Agent may, but shall not be obligated to, make Communications (as defined below) available to the other Lenders by posting the Communications on Debt Domain, Intralinks, Syndtrak, ClearPar or a substantially similar Electronic System.
(ii) Any Electronic System used by the Administrative Agent is provided “as is” and “as available.” The Agent Parties (as defined below) do not warrant the adequacy of such Electronic Systems and expressly disclaim liability for errors or omissions in the Communications. No warranty of any kind, express, implied or statutory, including any warranty of merchantability, fitness for a particular purpose, non-infringement of third-party rights or freedom from viruses or other code defects, is made by any Agent Party in connection with the Communications or any Electronic System.  In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to the Borrower or the other Loan Parties, any Lender, or any other Person or entity for damages of any kind, including direct or indirect, special, incidental or consequential damages, losses or expenses (whether in tort, contract or otherwise) arising out of any Loan Party’s or the Administrative Agent’s 
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transmission of communications through an Electronic System. “Communications” means, collectively, any notice, demand, communication, information, document or other material provided by or on behalf of any Loan Party pursuant to any Loan Document or the transactions contemplated therein which is distributed by the Administrative Agent or any Lender by means of electronic communications pursuant to this Section, including through an Electronic System.
SECTION 9.02.    Waivers; Amendments.
(a) No failure or delay by the Administrative Agent or any Lender in exercising any right or power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent and the Lenders hereunder are cumulative and are not exclusive of any rights or remedies that they would otherwise have.  No waiver of any provision of this Agreement or consent to any departure by the Borrower therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan shall not be construed as a waiver of any Default, regardless of whether the Administrative Agent or any Lender may have had notice or knowledge of such Default at the time.
(b) Subject to Section 2.14(c) and (d) and Section 9.02(c) below, neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Borrower and the Required Lenders or by the Borrower and the Administrative Agent with the consent of the Required Lenders; provided that no such agreement shall (i) increase the Commitment of any Lender without the written consent of such Lender, (ii) reduce the principal amount of any Loan or reduce the rate of interest thereon, or reduce any fees payable hereunder, without the written consent of each Lender affected thereby, (iii) postpone the scheduled date of payment of the principal amount of any Loan, or any interest thereon, or any fees payable hereunder, or reduce the amount of, waive or excuse any such payment, or postpone the scheduled date of expiration of any Commitment, without the written consent of each Lender affected thereby, (iv) change Section 2.18(c) or (d) in a manner that would alter the pro rata sharing of payments required thereby, without the written consent of each Lender, (v) release any Guarantor from its obligation under its Loan Guaranty or Obligation Guaranty (except as otherwise permitted herein or in the other Loan Documents), without the written consent of each Lender (other than any Defaulting Lender), or (vi) change any of the provisions of this Section or the definition of “Required Lenders” or any other provision hereof specifying the number or percentage of Lenders required to waive, amend or modify any rights hereunder or make any determination or grant any consent hereunder, without the written consent of each Lender; provided further that no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent hereunder  without the prior written consent of the Administrative Agent.
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(c) [Paragraph intentionally omitted].
(d) 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.
SECTION 9.03.    Expenses; Indemnity; Damage Waiver.
(a) The Borrower shall pay (i) all reasonable out of pocket expenses incurred by the Administrative Agent and its Affiliates, including the reasonable fees, charges and disbursements of counsel for the Administrative Agent, in connection with the syndication of the credit facilities provided for herein, the preparation and administration of this Agreement and the other Loan Documents or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), and (ii) all out-of-pocket expenses incurred by the Administrative Agent or any Lender, including the fees, charges and disbursements of any counsel for the Administrative Agent or any Lender, in connection with the enforcement or protection of its rights in connection with this Agreement and the other Loan Documents, including its rights under this Section, or in connection with the Loans made, including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans.
(b) The Borrower shall indemnify the Administrative Agent and each Lender, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses, including the fees, charges and disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document, or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the Transactions or any other transactions contemplated hereby, (ii) any Loan or the use of the proceeds therefrom, (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower or any of its Subsidiaries, or any Environmental Liability related in any way to the Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether or not such claim, litigation, investigation or proceeding is brought by the Borrower or any other Loan Party or its or their respective equity holders, Affiliates, creditors or any other third Person and whether based on contract, tort or any other theory and regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and non-appealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee. This Section 9.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims or damages arising from any non-Tax claim.
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(c) To the extent that the Borrower fails to pay any amount required to be paid by it to the Administrative Agent under paragraph (a) or (b) of this Section, each Lender severally agrees to pay to the Administrative Agent such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent.
(d) To the extent permitted by applicable law, no party hereto shall assert, and each such party hereby waives, any claim against any other party hereto, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, or any agreement or instrument contemplated hereby or thereby, the Transactions, any Loan or the use of the proceeds thereof; provided that, nothing in this clause (d) shall relieve the Borrower of any obligation it may have to indemnify an Indemnitee against special, indirect, consequential or punitive damages asserted against such Indemnitee by a third party.
(e) All amounts due under this Section shall be payable promptly after written demand therefor.
SECTION 9.04.    Successors and Assigns.
(a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except that (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) and (ii) no Lender may assign or otherwise transfer its rights or obligations hereunder except in accordance with this Section.  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 paragraph (c) of this Section) and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent 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 Persons (other than an Ineligible Institution) all or a portion of its rights and obligations  under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it) with the prior written consent (such consent not to be unreasonably withheld) of:
(A) the Borrower, provided that, the Borrower shall be deemed to have consented to an assignment unless it shall have objected thereto by written notice to the Administrative Agent within five (5) Business Days after having received notice thereof; provided that no consent of the Borrower shall be required for an assignment to a Lender, an Affiliate of a Lender, an Approved Fund or, if an Event of Default has occurred and is continuing, any other assignee; and
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(B) the Administrative Agent, provided that no consent of the Administrative Agent shall be required for an assignment of any Commitment to an assignee that is a Lender (other than a Defaulting Lender) with a Commitment immediately prior to giving effect to such assignment;
(ii) Assignments shall be subject to the following additional conditions:
(A) except in the case of an assignment to a Lender or an Affiliate of a Lender or an assignment of the entire remaining amount of the assigning Lender’s Commitment or Loans of any Class, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent) shall not be less than $5,000,000 unless each of the Borrower and the Administrative Agent otherwise consent, provided that no such consent of the Borrower shall be required if an Event of Default has occurred and is continuing;
(B) 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, provided that this clause shall not be construed to prohibit the assignment of a proportionate part of all the assigning Lender’s rights and obligations in respect of one Class of Commitments or Loans;
(C) the parties to each assignment shall execute and deliver to the Administrative Agent (x) an Assignment and Assumption or (y) to the extent applicable, an agreement incorporating an Assignment and Assumption by reference pursuant to a Platform as to which the Administrative Agent and the parties to the Assignment and Assumption are participants), together with a processing and recordation fee of $3,500; and
(D) 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 related parties or its 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.
For the purposes of this Section 9.04(b), the term “Approved Fund” and “Ineligible Institution” have the following meanings:
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“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 of its business and that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or an entity or an Affiliate of an entity that administers or manages a Lender.
“Ineligible Institution” means (a) a natural person, (b) a Defaulting Lender or its Lender Parent, (c) a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural person or relative(s) thereof or (d)  a Loan Party or any Affiliate of a Loan Party; provided that, such holding company, investment vehicle or trust shall not constitute an Ineligible Institution if it has not been established for the primary purpose of acquiring any Loans or Commitments, (y) is managed by a professional advisor, who is not such natural person or a relative thereof, having significant experience in the business of making or purchasing commercial loans, and (z) has assets greater than $25,000,000 and a significant part of its activities consist of making or purchasing commercial loans and similar extensions of credit in the ordinary course of its business.
(iii) Subject to acceptance and recording thereof pursuant to paragraph (b)(iv) of this Section, 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 2.15, 2.16, 2.17 and 9.03).  Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 9.04 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 a non-fiduciary 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 Commitment of, and principal amount (and stated interest) of the Loans owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and the Borrower, the Administrative Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower and any Lender, at any reasonable time and from time to time upon reasonable prior notice.
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(v) Upon its receipt of (x) a duly completed Assignment and Assumption executed by an assigning Lender and an assignee or (y) to the extent applicable, an agreement incorporating an Assignment and Assumption by reference pursuant to a Platform as to which the Administrative Agent and the parties to the Assignment and Assumption are participants), 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 (d) of this Section, the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the Register; provided that if either the assigning Lender or the assignee shall have failed to make any payment required to be made by it pursuant to Section 2.05(c), 2.06(d) or (e), 2.07(b), 2.18(f) or 9.03(c), the Administrative Agent shall have no obligation to accept such Assignment and Assumption and record the information therein in the Register unless and until such payment shall have been made in full, together with all accrued interest thereon. No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph.
(c) Any Lender may, without the consent of the Borrower or the Administrative Agent, sell participations to one or more banks or other entities (a “Participant”), other than an Ineligible Institution, in all or a portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its Commitment 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 and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement.  Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the first proviso to Section 9.02(b) that affects such Participant. The Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.15, 2.16 and 2.17 (subject to the requirements and limitations therein, including the requirements under Sections 2.17(f) (it being understood that the documentation required under Section 2.17(f) shall be delivered to the participating Lender) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section; provided that such Participant (A) agrees to be subject to the provisions of Section 2.19 as if it were an assignee under paragraph (b) of this Section; and (B) shall not be entitled to receive any greater payment under Section 2.15 or 2.17, with respect to any participation, than its participating Lender would have been entitled to receive, except to the extent such entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired the applicable participation.   Each Lender that sells a participation agrees, at the Borrower’s request and expense, to use reasonable efforts to cooperate with the Borrower to effectuate the provisions of Section 2.19(b) with respect to any 
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Participant.  To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.08 as though it were a Lender; provided that such Participant agrees to be subject to Section 2.18(c) as though it were a Lender. Each Lender that sells a participation shall, acting solely for this purpose as an 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 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. 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.
(d) Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank, 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.
SECTION 9.05    Survival. All covenants, agreements, representations and warranties made by the Borrower herein and in the certificates or other instruments delivered in connection with or pursuant to this Agreement and the other Loan Documents shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of this Agreement and the making of any Loans, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under this Agreement is outstanding and unpaid and so long as the Commitments have not expired or terminated. The provisions of Sections 2.15, 2.16, 2.17 and 9.03 and Article VIII shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans and the Commitments or the termination of this Agreement or any provision hereof.
SECTION 9.06    Counterparts; Integration; Effectiveness; Electronic Execution. 
(a) This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement, the other Loan Documents, and any separate letter agreements with respect to fees payable to the Administrative Agent constitute the entire contract among the parties relating to the subject matter hereof and 
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supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof.  Except as provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.
(b) Delivery of an executed counterpart of a signature page of this Agreement by telecopy, emailed pdf. or any other electronic means that reproduces an image of the actual executed signature page shall be effective as delivery of a manually executed counterpart of this Agreement.  The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to any  document to be signed in connection with this Agreement and the transactions contemplated hereby shall be deemed to include Electronic Signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state  laws based on the Uniform Electronic Transactions Act; provided that nothing herein shall require the Administrative Agent to accept electronic signatures in any form or format without its prior written consent.
SECTION 9.07.    Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.
SECTION 9.08.    Right of Setoff.  If an Event of Default shall have occurred and be continuing, each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other obligations at any time owing by such Lender or Affiliate to or for the credit or the account of any Loan Party against any of and all the Secured Obligations held by such Lender, irrespective of whether or not such Lender shall have made any demand under this Agreement and although such obligations may be unmatured. The rights of each Lender under this Section are in addition to other rights and remedies (including other rights of setoff) which such Lender may have.
SECTION 9.09.    Governing Law; Jurisdiction; Consent to Service of Process.
(a) The Loan Documents (other than those containing a contrary express choice of law provision) shall be governed by and construed in accordance with the internal laws (and not the law of conflicts) of the State of Indiana, but giving effect to federal laws applicable to national banks.
(b) Each Loan Party hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of any U.S. federal or Indiana state court sitting in Indianapolis, Indiana in any action or proceeding arising out of or relating to any Loan 
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Documents, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such state court or, to the extent permitted by law, in such federal court.  Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.  Nothing in this Agreement or any other Loan Document shall affect any right that the Administrative Agent or any Lender may otherwise have to bring any action or proceeding relating to this Agreement or any other Loan Document against any Loan Party or its properties in the courts of any jurisdiction.
(c) Each Loan Party hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any other Loan Document in any court referred to in paragraph (b) of this Section.  Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.
(d) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 9.01.  Nothing in this Agreement or any other Loan Document will affect the right of any party to this Agreement to serve process in any other manner permitted by law.
SECTION 9.10.    WAIVER OF JURY TRIAL.  EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.
SECTION 9.11.    Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement.
SECTION 9.12.    Confidentiality.  Each of the Administrative Agent and the Lenders agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its and its Affiliates’ directors, officers, employees and agents, including accountants, legal counsel and other advisors (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent requested by any Governmental Authority (including any self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the extent required by applicable laws or 
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regulations or by any subpoena or similar legal process, (d) to any other party to this Agreement, (e) in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights hereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to the Borrower and its obligations, (g) with the consent of the Borrower, (h) to any Person providing a Guarantee of all or any portion of the Secured Obligations, (i) to the extent such Information (i) becomes publicly available other than as a result of a breach of this Section or (ii) becomes available to the Administrative Agent or any Lender on a non-confidential basis from a source other than the Borrower, or (j) on a confidential basis to (i) any rating agency in connection with rating the Loan Parties or their Subsidiaries or the credit facilities or (ii) the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers with respect to the credit facilities.  For the purposes of this Section, “Information” means all information received from the Borrower relating to the Borrower or its business, other than any such information that is available to the Administrative Agent or any Lender on a non-confidential basis prior to disclosure by the Borrower and other than information pertaining to this Agreement routinely provided by arrangers to data service providers, including league table providers, that serve the lending industry; provided that, in the case of information received from the Borrower after the date hereof, such information is clearly identified at the time of delivery as confidential.  Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information.  The Administrative Agent and the Lenders may disclose the existence of this Agreement and information about this Agreement to market data collectors, similar service providers to the lending industry and service providers to the Administrative Agent or any Lender in connection with the administration of this Agreement, the other Loan Documents, and the Commitments.
SECTION 9.13.    Material Non-Public Information.
(a) EACH LENDER ACKNOWLEDGES THAT INFORMATION AS DEFINED IN SECTION 9.12(a) FURNISHED TO IT PURSUANT TO THIS AGREEMENT MAY INCLUDE MATERIAL NON-PUBLIC INFORMATION CONCERNING THE BORROWER AND ITS 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.
(b) 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 WILL BE SYNDICATE-LEVEL 
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INFORMATION, WHICH MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION ABOUT THE BORROWER, THE LOAN PARTIES 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.
SECTION 9.14.    [Section Intentionally Omitted]. 
SECTION 9.15.    Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the interest rate applicable to any Loan, together with all fees, charges and other amounts which are treated as interest on such Loan under applicable law (collectively the “Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which may be contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance with applicable law, the rate of interest payable in respect of such Loan hereunder, together with all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of such Loan but were not payable as a result of the operation of this Section shall be cumulated and the interest and Charges payable to such Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment, shall have been received by such Lender.
SECTION 9.16.    No Advisory or Fiduciary Responsibility.  In connection with all aspects of each transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrower and each other Loan Party acknowledges and agrees that:  (a) (i) the arranging and other services regarding this Agreement provided by the Lenders and their Affiliates are arm’s-length commercial transactions between the Borrower, each other Loan Party and their Affiliates, on the one hand, and the Lenders and their Affiliates, on the other hand, (ii) the Borrower and each other Loan Party has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (iii) the Borrower and each other Loan Party is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (b) (i) each of the Lenders and their Affiliates is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for the Borrower, any other Loan Party or any of their Affiliates, or any other Person and (ii) no Lender or any of its Affiliates has any obligation to the Borrower, any other Loan Party or any of their Affiliates with respect to the transactions contemplated hereby except, in the case of a Lender, those obligations expressly set forth herein and in the other Loan Documents; and (c) each of the Lenders and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Borrower, each other Loan Party and their Affiliates, and no Lender or any of its Affiliates has any obligation to disclose any of such interests to the Borrower, any other Loan Party or their Affiliates.  To the fullest extent 
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permitted by law, the Borrower and each other Loan Party hereby waives and releases any claims that they may have against each of the Lenders and their Affiliates with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby.
SECTION 9.17.    USA PATRIOT Act.  Each Lender that is subject to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”) hereby notifies the Borrower that pursuant to the requirements of the 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 Act.
SECTION 9.18.    Acknowledgement and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any 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 Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and
(b) the effects of any Bail-In Action on any such liability, including, if applicable:
(i)  a reduction in full or in part or cancellation of any such liability;
(ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial Institution, its parent entity, 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.
SECTION 9.19.    Marketing Consent. The Borrower consents to the publication by the Administrative Agent or any Lender of customary advertising material relating to the transactions contemplated hereby using the name and any associated logos of the Borrower.
SECTION 9.20.    Acknowledgement Regarding Any Supported QFCs. To the extent that the Loan Documents provide support, through a guarantee or otherwise, for Swap Agreements or any other agreement or instrument that is a QFC (such support “QFC Credit Support” and each such QFC a “Supported QFC”), the parties acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the “U.S. Special Resolution Regimes”) 
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in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of Indiana and/or of the United States or any other state of the United States):
In the event a Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the United States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support.
ARTICLE X
Loan Guaranty
SECTION 10.01    Guaranty.  Each Loan Guarantor (other than those that have delivered a separate Guaranty) hereby agrees that it is jointly and severally liable for, and, as a primary obligor and not merely a surety, absolutely, unconditionally and irrevocably guarantees to the Secured Parties, the prompt payment when due, whether at stated maturity, upon acceleration or otherwise, and at all times thereafter, of the Secured Obligations and all costs and expenses including, without limitation, all court costs and reasonable attorneys’ and paralegals’ fees (including allocated costs of in-house counsel and paralegals) and expenses paid or incurred by the Administrative Agent and the Lenders in endeavoring to collect all or any part of the Secured Obligations from, or in prosecuting any action against, the Borrower, any other Loan Guarantor or any other guarantor of all or any part of the Secured Obligations (such costs and expenses, together with the Secured Obligations, collectively the “Guaranteed Obligations”); provided, however, that the definition of “Guaranteed Obligations” shall not create any guarantee by any Loan Guarantor of (or grant of security interest by any Loan Guarantor to support, as applicable) any Excluded Swap Obligations of such Loan Guarantor for purposes of determining any obligations of any Loan Guarantor). Each Loan Guarantor further agrees that the Guaranteed Obligations may be extended or renewed in whole or in part without notice to or further assent from it, and that it remains bound upon its guarantee notwithstanding any such extension or renewal. All terms of this Loan Guaranty apply to and may be enforced by or on behalf of any domestic or foreign branch or Affiliate of any Lender that extended any portion of the Guaranteed Obligations.
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SECTION 10.02.    Guaranty of Payment.  This Loan Guaranty is a guaranty of payment and not of collection. Each Loan Guarantor waives any right to require the Administrative Agent or any Lender to sue the Borrower, any Loan Guarantor of, any other guarantor, or any other Person obligated for all or any part of the Guaranteed Obligations (each, an “Obligated Party”), or otherwise to enforce its payment against any collateral securing all or any part of the Guaranteed Obligations.
SECTION 10.03.    No Discharge or Diminishment of Loan Guaranty.  
(a) Except as otherwise provided for herein, the obligations of each Loan Guarantor hereunder are unconditional and absolute and not subject to any reduction, limitation, impairment or termination for any reason (other than the Payment in Full of the Guaranteed Obligations), including:  (i) any claim of waiver, release, extension, renewal, settlement, surrender, alteration, or compromise of any of the Guaranteed Obligations, by operation of law or otherwise; (ii) any change in the corporate existence, structure or ownership of the Borrower or any other Obligated Party liable for any of the Guaranteed Obligations; (iii) any insolvency, bankruptcy, reorganization or other similar proceeding affecting any Obligated Party, or their assets or any resulting release or discharge of any obligation of any Obligated Party; or (iv) the existence of any claim, setoff or other rights which any Loan Guarantor may have at any time against any Obligated Party, the Administrative Agent, any Lender, or any other Person, whether in connection herewith or in any unrelated transactions.  
(b) The obligations of each Loan Guarantor hereunder are not subject to any defense or setoff, counterclaim, recoupment, or termination whatsoever by reason of the invalidity, illegality, or unenforceability of any of the Guaranteed Obligations or otherwise, or any provision of applicable law or regulation purporting to prohibit payment by any Obligated Party, of the Guaranteed Obligations or any part thereof.
(c) Further, the obligations of any Loan Guarantor hereunder are not discharged or impaired or otherwise affected by: (i) the failure of the Administrative Agent or any Lender to assert any claim or demand or to enforce any remedy with respect to all or any part of the Guaranteed Obligations; (ii) any waiver or modification of or supplement to any provision of any agreement relating to the Guaranteed Obligations; (iii) any release, non-perfection, or invalidity of any indirect or direct security for the obligations of the Borrower for all or any part of the Guaranteed Obligations or any obligations of any other Obligated Party liable for any of the Guaranteed Obligations; (iv) any action or failure to act by the Administrative Agent or any Lender with respect to any collateral securing any part of the Guaranteed Obligations; or (v) any default, failure or delay, willful or otherwise, in the payment or performance of any of the Guaranteed Obligations, or any other circumstance, act, omission or delay that might in any manner or to any extent vary the risk of such Loan Guarantor or that would otherwise operate as a discharge of any Loan Guarantor as a matter of law or equity (other than the Payment in Full of the Guaranteed Obligations). 
SECTION 10.04    Defenses Waived.  To the fullest extent permitted by applicable law, each Loan Guarantor hereby waives any defense based on or arising out of any defense of the Borrower or any Loan Guarantor or the unenforceability of all or any part of the Guaranteed Obligations from any cause, or the cessation from any cause of the liability of the Borrower, any Loan Guarantor or any other Obligated Party, other than the Payment in Full of the Guaranteed 
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Obligations. Without limiting the generality of the foregoing, each Loan Guarantor irrevocably waives acceptance hereof, presentment, demand, protest and, to the fullest extent permitted by law, any notice not provided for herein, as well as any requirement that at any time any action be taken by any Person against any Obligated Party, or any other Person.  Each Loan Guarantor confirms that it is not a surety under any state law and shall not raise any such law as a defense to its obligations hereunder.  The Administrative Agent may otherwise act or fail to act with respect to any collateral securing all or a part of the Guaranteed Obligations, compromise or adjust any part of the Guaranteed Obligations, make any other accommodation with any Obligated Party or exercise any other right or remedy available to it against any Obligated Party, without affecting or impairing in any way the liability of such Loan Guarantor under this Loan Guaranty, except to the extent the Guaranteed Obligations have been Paid in Full.  To the fullest extent permitted by applicable law, each Loan Guarantor waives any defense arising out of any such election even though that election may operate, pursuant to applicable law, to impair or extinguish any right of reimbursement or subrogation or other right or remedy of any Loan Guarantor against any Obligated Party or any security.
SECTION 10.05.    Rights of Subrogation.  No Loan Guarantor will assert any right, claim or cause of action, including, without limitation, a claim of subrogation, contribution or indemnification that it has against any Obligated Party, or any collateral, until the Loan Parties and the Loan Guarantors have fully performed all their obligations to the Administrative Agent and the Lenders. 
SECTION 10.06.    Reinstatement; Stay of Acceleration.  If at any time any payment of any portion of the Guaranteed Obligations (including a payment effected through exercise of a right of setoff) is rescinded, or must otherwise be restored or returned upon the insolvency, bankruptcy or reorganization of the Borrower or otherwise (including pursuant to any settlement entered into by a Secured Party in its discretion), each Loan Guarantor’s obligations under this Loan Guaranty with respect to that payment shall be reinstated at such time as though the payment had not been made and whether or not the Administrative Agent and the Lenders are in possession of this Loan Guaranty. If acceleration of the time for payment of any of the Guaranteed Obligations is stayed upon the insolvency, bankruptcy or reorganization of the Borrower, all such amounts otherwise subject to acceleration under the terms of any agreement relating to the Guaranteed Obligations shall nonetheless be payable by the Loan Guarantors forthwith on demand by the Administrative Agent.
SECTION 10.07.    Information.  Each Loan Guarantor assumes all responsibility for being and keeping itself informed of the Borrower’s financial condition and assets, and of all other circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations and the nature, scope and extent of the risks that each Loan Guarantor assumes and incurs under this Loan Guaranty, and agrees that none of the Administrative Agent nor any Lender shall have any duty to advise any Loan Guarantor of information known to it regarding those circumstances or risks.
SECTION 10.08.    Termination.  Each of the Lenders may continue to make loans or extend credit to the Borrower based on this Loan Guaranty until five (5) days after such Lender receives written notice of termination from any Loan Guarantor.  Notwithstanding receipt of any such notice, each Loan Guarantor will continue to be liable to the Lenders for any Guaranteed 
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Obligations created, assumed or committed to prior to the fifth day after such Lender’s receipt of the notice, and all subsequent renewals, extensions, modifications and amendments with respect to, or substitutions for, all or any part of such Guaranteed Obligations.  Nothing in this Section 10.08 shall be deemed to constitute a waiver of, or eliminate, limit, reduce or otherwise impair any rights or remedies the Administrative Agent or any Lender may have in respect of, any Default or Event of Default that shall exist under Article VII hereof as a result of any such notice of termination.
SECTION 10.09.    Taxes.  Each payment of the Guaranteed Obligations will be made by each Loan Guarantor without withholding for any Taxes, unless such withholding is required by law.  If any Loan Guarantor determines, in its sole discretion exercised in good faith, that it is so required to withhold Taxes, then such Loan Guarantor may so withhold and shall timely pay the full amount of withheld Taxes to the relevant Governmental Authority in accordance with applicable law.  If such Taxes are Indemnified Taxes, then the amount payable by such Loan Guarantor shall be increased as necessary so that, net of such withholding (including such withholding applicable to additional amounts payable under this Section), the Administrative Agent or Lender (as the case may be) receives the amount it would have received had no such withholding been made.
SECTION 10.10.    Maximum Liability.  Notwithstanding any other provision of this Loan Guaranty, the amount guaranteed by each Loan Guarantor hereunder shall be limited to the extent, if any, required so that its obligations hereunder shall not be subject to avoidance under Section 548 of the Bankruptcy Code or under any applicable state Uniform Fraudulent Transfer Act, Uniform Fraudulent Conveyance Act, Uniform Voidable Transaction Act or similar statute or common law.  In determining the limitations, if any, on the amount of any Loan Guarantor’s obligations hereunder pursuant to the preceding sentence, it is the intention of the parties hereto that any rights of subrogation, indemnification or contribution which such Loan Guarantor may have under this Loan Guaranty, any other agreement or applicable law shall be taken into account.
SECTION 10.11.    Contribution.  
(a) To the extent that any Loan Guarantor shall make a payment under this Loan Guaranty (a “Guarantor Payment”) which, taking into account all other Guarantor Payments then previously or concurrently made by any other Loan Guarantor, exceeds the amount which otherwise would have been paid by or attributable to such Loan Guarantor if each Loan Guarantor had paid the aggregate Guaranteed Obligations satisfied by such Guarantor Payment in the same proportion as such Loan Guarantor’s “Allocable Amount” (as defined below) (as determined immediately prior to such Guarantor Payment) bore to the aggregate Allocable Amounts of each of the Loan Guarantors as determined immediately prior to the making of such Guarantor Payment, then, following indefeasible payment in full in cash of the Guarantor Payment, the Payment in Full of the Guaranteed Obligations and the termination of this Agreement, such Loan Guarantor shall be entitled to receive contribution and indemnification payments from, and be reimbursed by, each other Loan Guarantor for the amount of such excess, pro rata based upon their respective Allocable Amounts in effect immediately prior to such Guarantor Payment.
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(b) As of any date of determination, the “Allocable Amount” of any Loan Guarantor shall be equal to the excess of the fair saleable value of the property of such Loan Guarantor over the total liabilities of such Loan Guarantor (including the maximum amount reasonably expected to become due in respect of contingent liabilities, calculated, without duplication, assuming each other Loan Guarantor that is also liable for such contingent liability pays its ratable share thereof), giving effect to all payments made by other Loan Guarantors as of such date in a manner to maximize the amount of such contributions.
(c) This Section 10.11 is intended only to define the relative rights of the Loan Guarantors, and nothing set forth in this Section 10.11 is intended to or shall impair the obligations of the Loan Guarantors, jointly and severally, to pay any amounts as and when the same shall become due and payable in accordance with the terms of this Loan Guaranty.
(d) The parties hereto acknowledge that the rights of contribution and indemnification hereunder shall constitute assets of the Loan Guarantor or Loan Guarantors to which such contribution and indemnification is owing.
(e) The rights of the indemnifying Loan Guarantors against other Loan Guarantors under this Section 10.11 shall be exercisable upon the Payment in Full of the Guaranteed Obligations and the termination of this Agreement.
SECTION 10.12.    Liability Cumulative.  The liability of each Loan Party as a Loan Guarantor under this Article X is in addition to and shall be cumulative with all liabilities of each Loan Party to the Administrative Agent and the Lenders under this Agreement and the other Loan Documents to which such Loan Party is a party or in respect of any obligations or liabilities of the other Loan Parties, without any limitation as to amount, unless the instrument or agreement evidencing or creating such other liability specifically provides to the contrary.
SECTION 10.13.    Keepwell.  Each Qualified ECP Guarantor hereby jointly and severally absolutely, unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time by each other Loan Party to honor all of its obligations under this Guarantee in respect of a Swap Obligation (provided, however, that each Qualified ECP Guarantor shall only be liable under this Section 10.13 for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section 10.13 or otherwise under this Loan Guaranty voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount).  Except as otherwise provided herein, the obligations of each Qualified ECP Guarantor under this Section 10.13 shall remain in full force and effect until the termination of all Swap Obligations.  Each Qualified ECP Guarantor intends that this Section 10.13 constitute, and this Section 10.13 shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Loan Party for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

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

																		
	BORROWER:					
						
	KIMBALL ELECTRONICS, INC.					
						
	By:	/s/ Michael K. Sergesketter				
		Michael K. Sergesketter, Vice President,				
		Chief Financial Officer				
						
	By:	/s/ Adam W. Smith				
		Adam W. Smith, Treasurer				
						
						
						
						
	OTHER LOAN PARTIES/GUARANTORS:					
						
	KIMBALL ELECTRONICS GROUP, LLC					
						
	By:	/s/ Michael K. Sergesketter				
		Michael K. Sergesketter, Vice President,				
		Chief Financial Officer				
						
	KIMBALL ELECTRONICS MEXICO, INC.					
						
	By:	/s/ Michael K. Sergesketter				
		Michael K. Sergesketter, Vice President,				
		Chief Financial Officer				
						
	KIMBALL ELECTRONICS TAMPA, INC.					
						
	By:	/s/ Michael K. Sergesketter				
		Michael K. Sergesketter, Vice President,				
		Chief Financial Officer				

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	KIMBALL ELECTRONICS INDIANAPOLIS,					
	INC.					
						
	By:	/s/ Michael K. Sergesketter				
		Michael K. Sergesketter, Vice President,				
		Chief Financial Officer				
						
	KIMBALL ELECTRONICS INDIANA, INC.					
						
	By:	/s/ Michael K. Sergesketter				
		Michael K. Sergesketter, Vice President,				
		Chief Financial Officer				

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	LENDERS:					
						
	JPMORGAN CHASE BANK, N.A., individually					
	and as Administrative Agent,					
						
	By:	/s/ Kyle S. Middleton				
		Name: 	Kyle S. Middleton			
		Title:	Authorized Signatory			

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	BANK OF AMERICA, N.A.					
						
						
						
	By:	/s/ Matthew Doye				
		Name:	Matthew Doye			
		Title:	Senior Vice President			

															
					

															
					

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	HSBC BANK USA, N.A.					
						
						
	By:	/s/ Shaun R. Kleinman				
		Name:	Shaun R. Kleinman			
		Title:	Senior Vice President			

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	BANK OF MONTREAL					
						
						
						
	By:	/s/ Tim Massey				
		Name:	Tim Massey			
		Title:	Senior Vice President			

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