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 Exhibit 10.2 

EXECUTION COPY 
  

 
 TERM LOAN AGREEMENT 

AMONG 
 AMERICAN TOWER
CORPORATION, 
 AS BORROWER; 

TORONTO DOMINION (TEXAS) LLC 

AS ADMINISTRATIVE AGENT FOR THE LENDERS; 

AND 
 THE FINANCIAL
INSTITUTIONS WHOSE NAMES APPEAR 
 AS LENDERS ON THE SIGNATURE PAGES HEREOF; 

AND WITH 
 MORGAN
STANLEY MUFG LOAN PARTNERS, LLC 
 AND 

THE BANK OF NOVA SCOTIA 

AS CO-SYNDICATION AGENTS; 

AND 
 TD SECURITIES
(USA) LLC 
 COBANK, ACB 

and 
 SANTANDER BANK, N.A.

 AS JOINT LEAD ARRANGERS AND JOINT BOOKRUNNERS 

DATED AS OF APRIL 3, 2020 
  

 

 Table of Contents 

 

							
	 	 	 	  	Page	 
		
	 ARTICLE 1 - DEFINITIONS
	  	 	1	 
			
	 Section 1.1
	 	 Definitions
	  	 	1	 
	 Section 1.2
	 	 Interpretation
	  	 	18	 
	 Section 1.3
	 	 Cross References
	  	 	18	 
	 Section 1.4
	 	 Accounting Provisions
	  	 	18	 
	 Section 1.5
	 	 Divisions
	  	 	18	 
		
	 ARTICLE 2 - LOANS
	  	 	19	 
			
	 Section 2.1
	 	 The Term Loans
	  	 	19	 
	 Section 2.2
	 	 Manner of Advance and Disbursement
	  	 	19	 
	 Section 2.3
	 	 Interest
	  	 	21	 
	 Section 2.4
	 	 Fees
	  	 	22	 
	 Section 2.5
	 	 [Intentionally Omitted]
	  	 	22	 
	 Section 2.6
	 	 Prepayments and Repayments
	  	 	22	 
	 Section 2.7
	 	 Notes; Loan Accounts
	  	 	22	 
	 Section 2.8
	 	 Manner of Payment
	  	 	23	 
	 Section 2.9
	 	 Reimbursement
	  	 	24	 
	 Section 2.10
	 	 Pro Rata Treatment
	  	 	24	 
	 Section 2.11
	 	 Capital Adequacy
	  	 	25	 
	 Section 2.12
	 	 Lender Tax Forms
	  	 	26	 
	 Section 2.13
	 	 Incremental Term Loans
	  	 	27	 
	 Section 2.14
	 	 Defaulting Lender
	  	 	28	 
		
	 ARTICLE 3 - CONDITIONS PRECEDENT
	  	 	28	 
			
	 Section 3.1
	 	 Conditions Precedent to Effectiveness of this Agreement
	  	 	28	 
		
	 ARTICLE 4 - REPRESENTATIONS AND WARRANTIES
	  	 	29	 
			
	 Section 4.1
	 	 Representations and Warranties
	  	 	30	 
	 Section 4.2
	 	 Survival of Representations and Warranties, Etc.
	  	 	32	 
		
	 ARTICLE 5 - GENERAL COVENANTS
	  	 	33	 
			
	 Section 5.1
	 	 Preservation of Existence and Similar Matters
	  	 	33	 
	 Section 5.2
	 	 Compliance with Applicable Law
	  	 	33	 
	 Section 5.3
	 	 Maintenance of Properties
	  	 	33	 
	 Section 5.4
	 	 Accounting Methods and Financial Records
	  	 	33	 
	 Section 5.5
	 	 Insurance
	  	 	33	 
	 Section 5.6
	 	 Payment of Taxes and Claims
	  	 	33	 
	 Section 5.7
	 	 Visits and Inspections
	  	 	34	 
	 Section 5.8
	 	 Use of Proceeds
	  	 	34	 
	 Section 5.9
	 	 Maintenance of REIT Status
	  	 	34	 
	 Section 5.10
	 	 Senior Credit Facilities
	  	 	34	 
		
	 ARTICLE 6 - INFORMATION COVENANTS
	  	 	35	 

  
 (i) 

							
			
	 Section 6.1
	 	 Quarterly Financial Statements and Information
	  	 	35	 
	 Section 6.2
	 	 Annual Financial Statements and Information
	  	 	35	 
	 Section 6.3
	 	 Performance Certificates
	  	 	36	 
	 Section 6.4
	 	 Copies of Other Reports
	  	 	36	 
	 Section 6.5
	 	 Notice of Litigation and Other Matters
	  	 	36	 
	 Section 6.6
	 	 Certain Electronic Delivery; Public Information
	  	 	37	 
	 Section 6.7
	 	 Know Your Customer Information
	  	 	38	 
	 Section 6.8
	 	 Additional Requested Information
	  	 	38	 
		
	 ARTICLE 7 - NEGATIVE COVENANTS
	  	 	38	 
			
	 Section 7.1
	 	 Indebtedness; Guaranties of the Borrower and its Subsidiaries
	  	 	38	 
	 Section 7.2
	 	 Limitation on Liens
	  	 	40	 
	 Section 7.3
	 	 Liquidation, Merger or Disposition of Assets
	  	 	40	 
	 Section 7.4
	 	 Restricted Payments
	  	 	41	 
	 Section 7.5
	 	 Senior Secured Leverage Ratio
	  	 	42	 
	 Section 7.6
	 	 Total Borrower Leverage Ratio
	  	 	42	 
	 Section 7.7
	 	 [Reserved]
	  	 	42	 
	 Section 7.8
	 	 Affiliate Transactions
	  	 	42	 
	 Section 7.9
	 	 Restrictive Agreements
	  	 	42	 
	 Section 7.10
	 	 Use of Proceeds
	  	 	43	 
		
	 ARTICLE 8 - DEFAULT
	  	 	43	 
			
	 Section 8.1
	 	 Events of Default
	  	 	43	 
	 Section 8.2
	 	 Remedies
	  	 	46	 
	 Section 8.3
	 	 Payments Subsequent to Declaration of Event of Default
	  	 	46	 
		
	 ARTICLE 9 - THE ADMINISTRATIVE AGENT
	  	 	46	 
			
	 Section 9.1
	 	 Appointment and Authorization
	  	 	46	 
	 Section 9.2
	 	 Rights as a Lender
	  	 	47	 
	 Section 9.3
	 	 Exculpatory Provisions
	  	 	47	 
	 Section 9.4
	 	 Reliance by Administrative Agent
	  	 	48	 
	 Section 9.5
	 	 Resignation of Administrative Agent
	  	 	48	 
	 Section 9.6
	 	 Non-Reliance on Administrative Agent and Other
Lenders
	  	 	49	 
	 Section 9.7
	 	 Indemnification
	  	 	49	 
	 Section 9.8
	 	 No Responsibilities of the Agents
	  	 	50	 
	 Section 9.9
	 	 Lender ERISA Matters
	  	 	50	 
		
	 ARTICLE 10 - CHANGES IN CIRCUMSTANCES AFFECTING LIBOR ADVANCES AND INCREASED
COSTS
	  	 	50	 
			
	 Section 10.1
	 	 LIBOR Basis Determination Inadequate or Unfair
	  	 	50	 
	 Section 10.2
	 	 Illegality
	  	 	51	 
	 Section 10.3
	 	 Increased Costs and Additional Amounts
	  	 	52	 
	 Section 10.4
	 	 Effect On Other Advances
	  	 	54	 
	 Section 10.5
	 	 Claims for Increased Costs and Taxes; Replacement Lenders
	  	 	55	 
		
	 ARTICLE 11 - MISCELLANEOUS
	  	 	55	 
			
	 Section 11.1
	 	 Notices
	  	 	55	 

  
 (ii) 

							
	 Section 11.2
	 	 Expenses
	  	 	57	 
	 Section 11.3
	 	 Waivers
	  	 	57	 
	 Section 11.4
	 	 Assignment and Participation
	  	 	58	 
	 Section 11.5
	 	 Indemnity
	  	 	62	 
	 Section 11.6
	 	 Counterparts
	  	 	63	 
	 Section 11.7
	 	 Governing Law; Jurisdiction
	  	 	63	 
	 Section 11.8
	 	 Severability
	  	 	64	 
	 Section 11.9
	 	 Interest
	  	 	64	 
	 Section 11.10
	 	 Table of Contents and Headings
	  	 	64	 
	 Section 11.11
	 	 Amendment and Waiver
	  	 	65	 
	 Section 11.12
	 	 Entire Agreement
	  	 	66	 
	 Section 11.13
	 	 Other Relationships; No Fiduciary Relationships
	  	 	66	 
	 Section 11.14
	 	 Directly or Indirectly
	  	 	66	 
	 Section 11.15
	 	 Reliance on and Survival of Various Provisions
	  	 	66	 
	 Section 11.16
	 	 Senior Debt
	  	 	67	 
	 Section 11.17
	 	 Obligations
	  	 	67	 
	 Section 11.18
	 	 Confidentiality
	  	 	67	 
	 Section 11.19
	 	 USA PATRIOT ACT Notice
	  	 	67	 
	 Section 11.20
	 	 Acknowledgement and Consent to Bail-In of Affected
Financial Institutions
	  	 	68	 
	 Section 11.21
	 	 Right of Set-off
	  	 	68	 
		
	 ARTICLE 12 - WAIVER OF JURY TRIAL
	  	 	69	 
			
	 Section 12.1
	 	 Waiver of Jury Trial
	  	 	69	 

 SCHEDULES 
  

			
	Schedule 1	  	Commitments
	Schedule 2	  	Existing ABS Facilities
	Schedule 3	  	Subsidiaries on the Agreement Date
	Schedule 4	  	Administrative Agent’s Office, Certain Notice Addresses

 EXHIBITS

  

			
	Exhibit A	  	Form of Request for Advance
	Exhibit B	  	[Reserved]
	Exhibit C	  	Form of Note
	Exhibit D	  	Form of Loan Certificate
	Exhibit E	  	Form of Performance Certificate
	Exhibit F	  	Form of Assignment and Assumption

  
 (iii) 

 TERM LOAN AGREEMENT 

This Term Loan Agreement is made as of April 3, 2020, by and among AMERICAN TOWER CORPORATION, a Delaware corporation, as
Borrower, TORONTO DOMINION (TEXAS) LLC, as Administrative Agent, and the financial institutions whose names appear as lenders on the signature page hereof (together with any permitted successors and assigns of the foregoing). 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each of the
parties hereto, the parties hereby agree as follows: 
 ARTICLE 1 - DEFINITIONS 

Section 1.1 Definitions. For the purposes of this Agreement: 

“ABS Facility” shall mean one or more secured loans, borrowings or facilities that may be included in a commercial real
estate securitization transaction. 
 “Acquisition” shall mean (whether by purchase, lease, exchange, issuance of stock or
other equity or debt securities, merger, reorganization or any other method) (i) any acquisition by the Borrower or any of its Subsidiaries of any Person that is not a Subsidiary of the Borrower, which Person shall then become consolidated with
the Borrower or such Subsidiary in accordance with GAAP; (ii) any acquisition by the Borrower or any of its Subsidiaries of all or any substantial part of the assets of any Person that is not a Subsidiary of the Borrower; (iii) any
acquisition by the Borrower or any of its Subsidiaries of any business (or related contracts) primarily engaged in the tower, tower management or related businesses; or (iv) any acquisition by the Borrower or any of its Subsidiaries of any
communications towers or communications tower sites. 
 “Adjusted EBITDA” shall mean, for the twelve (12) month period
preceding the calculation date, for any Person, the sum of (a) Net Income, plus (b) to the extent deducted in determining Net Income, the sum, without duplication, of such Person’s (i) Interest Expense, (ii) income tax
expense, including, without limitation, taxes paid or accrued based on income, profits or capital, including state, franchise and similar taxes and foreign withholding taxes, (iii) depreciation and amortization (including, without limitation,
amortization of goodwill and other intangible assets), (iv) extraordinary losses and non-recurring non-cash charges and expenses, (v) all other non-cash charges, expenses and interest (including, without limitation, any non-cash losses in respect of Hedge Agreements, non-cash
impairment charges, non-cash valuation charges for stock option grants or vesting of restricted stock awards or any other non-cash compensation charges, and losses from
the early extinguishment of Indebtedness), (vi) non-recurring integration costs and expenses resulting from operational changes and improvements (including, without limitation, severance costs and business
optimization expenses) and (vii) non-recurring charges and expenses, restructuring charges, transaction expenses (including, without limitation, transaction expenses incurred in connection with any merger
or acquisition) and underwriters’ fees, and severance and retention payments in connection with any merger or acquisition, in each case for such period, less extraordinary gains and cash payments (not

  
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otherwise deducted in determining Net Income) made during such period with respect to non-cash charges that were added back in a prior period;
provided, however, (A) with respect to any Person that became a Subsidiary of the Borrower, or was merged with or consolidated into the Borrower or any of its Subsidiaries, during such period, or any acquisition by the Borrower or
any of its Subsidiaries of the assets of any Person during such period, “Adjusted EBITDA” shall, at the option of the Borrower in respect of any or all of the foregoing, also include the Adjusted EBITDA of such Person or
attributable to such assets, as applicable, during such period as if such acquisition, merger or consolidation, including any concurrent transaction entered into by such Person or with respect to such assets as part of such acquisition, merger or
consolidation, had occurred on the first day of such period and (B) with respect to any Person that has ceased to be a Subsidiary of the Borrower during such period, or any material assets of the Borrower or any of its Subsidiaries sold or
otherwise disposed of by the Borrower or any of its Subsidiaries during such period, “Adjusted EBITDA” shall exclude the Adjusted EBITDA of such Person or attributable to such assets, as applicable, during such period as if such
sale or disposition of such Subsidiary or such assets had occurred on the first day of such period. 
 “Administrative
Agent” shall mean Toronto Dominion (Texas) LLC, in its capacity as Administrative Agent for the Lenders, or any successor Administrative Agent appointed pursuant to Section 9.5 hereof. 

“Administrative Agent’s Office” shall mean the Administrative Agent’s address and, as appropriate, account as set
forth on Schedule 4, or such other address or account as may be designated pursuant to the provisions of Section 11.1 hereof. 

“Advance” shall mean, initially, the borrowing consisting of simultaneous Loans by the Lenders. After the Loans are
outstanding, “Advance” shall mean the aggregate amounts advanced by the Lenders to the Borrower pursuant to Article 2 hereof and having the same Interest Rate Basis and Interest Period; and “Advances” shall mean
more than one Advance. 
 “Affected Financial Institution” means (a) any EEA Financial Institution or (b) any UK
Financial Institution. 
 “Affected Lender” shall have the meaning ascribed thereto in
Section 10.5 hereof. 
 “Affiliate” shall mean, with respect to a Person, any other Person
directly or indirectly controlling, controlled by, or under common control with, such first Person. For purposes of this definition, “control,” when used with respect to any Person, means the power to direct or cause the direction of the
management and policies of such Person whether by contract or otherwise. 
 “Agreement” shall mean this Term Loan
Agreement, as amended, supplemented, restated or otherwise modified in writing from time to time. 
 “Agreement Date” shall
mean April 3, 2020. 
 “Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction
applicable to the Borrower or its Subsidiaries from time to time concerning or relating to money laundering, bribery or corruption. 

  
 -2- 

 “Applicable Law” shall mean, in respect of any Person, all provisions of
constitutions, statutes, treaties, rules, regulations and orders of governmental bodies or regulatory agencies applicable to such Person, including, without limiting the foregoing, the Licenses, the Communications Act, zoning ordinances and all
environmental laws, and all orders, decisions, judgments and decrees of all courts and arbitrators in proceedings or actions to which the Person in question is a party or by which it is bound. 

“Applicable Margin” shall mean the interest rate margin applicable to Base Rate Advances and LIBOR Advances, as the case may
be, in each case determined in accordance with Section 2.3(f) hereof. 
 “Assignment and Assumption” shall mean an
Assignment and Assumption agreement substantially in the form of Exhibit F attached hereto. 
 “Attributable Debt”
in respect of any Sale and Leaseback Transaction shall mean, at the time of determination, the present value of the obligation of the lessee for net rental payments during the remaining term of the lease included in such Sale and Leaseback
Transaction (including any period for which such lease has been extended or may, at the option of the lessor, be extended). Such present value shall be calculated using a discount rate equal to the rate of interest implicit in such transaction,
determined in accordance with GAAP. 
 “Authorized Signatory” shall mean such senior personnel of a Person as may be duly
authorized and designated in writing by such Person to execute documents, agreements and instruments on behalf of such Person. 
 “Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable Resolution Authority in respect of any liability of an Affected Financial Institution. 

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

“Base Rate” shall mean for any day a fluctuating rate per annum equal to
the higher of (a) the Federal Funds Rate plus 1/2 of 1% and (b) the rate of interest in effect for such day as publicly announced from time to time by Toronto Dominion as its “prime rate.” The “prime rate” is a rate set
by Toronto Dominion based upon various factors including Toronto Dominion costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such
announced rate. Any change in such prime rate announced by Toronto Dominion shall take effect at the opening of business on the day specified in the public announcement of such change. 

  
 -3- 

 “Base Rate Advance” shall mean an Advance which the Borrower requests to be
made as a Base Rate Advance or is Converted to a Base Rate Advance, in accordance with the provisions of Section 2.2 hereof, and which shall be in a principal amount of at least $1,000,000.00 and in an integral multiple of
$500,000.00. 
 “Base Rate Basis” shall mean a simple interest rate equal to the sum of (i) the Base Rate and
(ii) the Applicable Margin applicable to Base Rate Advances for the applicable Loans. The Base Rate Basis shall be adjusted automatically as of the opening of business on the effective date of each change in the Base Rate to account for such
change, and shall also be adjusted to reflect changes of the Applicable Margin applicable to Base Rate Advances. 
 “Beneficial
Ownership Certification” shall mean a certification regarding beneficial ownership or control as required by the Beneficial Ownership Regulation. 

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

“Borrower” shall mean American Tower Corporation, a Delaware corporation. 

“Borrower Materials” shall have the meaning ascribed thereto in Section 6.6 hereof. 

“Business Day” shall mean any day other than a Saturday, Sunday or other day on which commercial banks are authorized to
close under the laws of, or are in fact closed in, the State of New York and, if such day relates to any Eurodollar Rate Loan, Business Day also means any such day that is also a London Banking Day. 

“Capitalized Lease Obligation” shall mean that portion of any obligation of a Person as lessee under a lease which at the
time would be required to be capitalized on the balance sheet of such lessee in accordance with GAAP. 
 “Cash Equivalents”
shall mean ‘cash equivalents’ as defined under and determined in accordance with generally accepted accounting principles. 

“Change of Control” shall mean (a) the acquisition, directly or indirectly, by any Person or group (as such term is used
in Section 13(d)(3) of the Exchange Act) of more than fifty percent (50%) of the voting power of the voting stock of either the Borrower (if the Borrower is not a Subsidiary of any Person) or of the ultimate parent entity of which the Borrower
is a Subsidiary (if the Borrower is a Subsidiary of any Person), as the case may be, by way of merger or consolidation or otherwise, or (b) a change shall occur in a majority of the members of the Borrower’s board of directors (including
the Chairman and President) within a year-long period such that such majority shall no longer consist of Continuing Directors. 
 “Co-Syndication Agents” shall mean Morgan Stanley MUFG Loan Partners, LLC and The Bank of Nova Scotia. 

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

“Commitments” shall mean, the Term Loan Commitments and the Incremental Term Loan Commitments. 

  
 -4- 

 “Communications Act” shall mean the Communications Act of 1934, and any
similar or successor Federal statute, and the rules and regulations of the FCC or other similar or successor agency thereunder, all as the same may be in effect from time to time. 

“Consolidated Total Assets” shall mean as of any date the total assets of the Borrower and its Subsidiaries on a consolidated
basis shown on the consolidated balance sheet of the Borrower and its Subsidiaries as of such date and determined in accordance with GAAP. 

“Continue”, “Continuation”, “Continuing” and “Continued” shall mean the
continuation pursuant to Article 2 hereof of a LIBOR Advance as a LIBOR Advance from one Interest Period to a different Interest Period. 

“Continuing Director” means a director who either (a) was a member of the Borrower’s board of directors on the date
of this Agreement, (b) becomes a member of the Borrower’s board of directors subsequent to the date of this Agreement and whose appointment, election or nomination for election by the Borrower’s stockholders is duly approved by a
majority of the directors referred to in clause (a) above constituting at the time of such appointment, election or nomination at least a majority of that board, or (c) becomes a member of the Borrower’s board of directors subsequent
to the date of this Agreement and whose appointment, election or nomination for election by the Borrower’s stockholders is duly approved by a majority of the directors referred to in clauses (a) and (b) above constituting at the time of
such appointment, election or nomination at least a majority of that board. 
 “Convert”, “Conversion” and
“Converted” shall mean a conversion pursuant to Article 2 hereof of a LIBOR Advance into a Base Rate Advance or of a Base Rate Advance into a LIBOR Advance, as applicable. 

“Debt Rating” shall mean, as of any date, the senior unsecured debt rating of the Borrower that has been most recently
announced by S&P, Moody’s or Fitch, as the case may be. 
 “Default” shall mean any Event of Default, and any of
the events specified in Section 8.1 hereof, regardless of whether there shall have occurred any passage of time or giving of notice, or both, that would be necessary in order to constitute such event an Event of Default.

 “Default Rate” shall mean a simple per annum interest rate equal to the sum of (a) the then applicable Interest
Rate Basis (including the Applicable Margin), and (b) two percent (2.0%). 
 “Defaulting Lender” means, subject to
Section 2.14, any Lender that, as determined by the Administrative Agent, has, or has a direct or indirect parent company that has, (i) become the subject of a voluntary proceeding under any bankruptcy or other debtor
relief law or has become the subject of a Bail-In Action, (ii) had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or
liquidation of its business or a custodian appointed for it, or (iii) taken any action in furtherance of, or indicated its consent to, approval of or acquiescence in any voluntary or involuntary proceeding under any bankruptcy or other debtor
relief law or any such appointment; provided that a Lender shall not be a Defaulting Lender solely by virtue of (1) the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a
governmental 

  
 -5- 

 
authority or (2) in the case of a solvent Lender, the precautionary appointment of an administrator, guardian, custodian or other similar official by a governmental authority under or based
on the law of the country where such Lender is subject to home jurisdiction supervision if applicable law requires that such appointment not be publicly disclosed, so long as, in the case of clause (1) and clause (2), such action does not
result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such governmental authority) to reject,
repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (i) through (iii) above shall be conclusive
and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.14) upon delivery of written notice of such determination to the Borrower and each Lender. 

“Designated Person” means a person or entity (a) listed in the annex to, or otherwise subject to the provisions of, any
Executive Order (as defined in the definition of “Sanctions Laws and Regulations”), (b) named as a “Specifically Designated National and Blocked Person” on the most current list published by the U.S. Department of the Treasury
Office of Foreign Assets Control at its official website or any replacement website or other replacement official publication of such list (the “SDN List”), (c) any Person listed in any Sanctions-related list of designated Persons
maintained by the United Nations Security Council, the European Union, the United Kingdom or any EU member state, (d) any Person operating, organized or resident in a Sanctioned Country or (e) in which an entity or person on the SDN List
(or any combination of such entities or persons) has 50% or greater direct or indirect ownership interest or that is otherwise controlled, directly or indirectly, by an entity or person on the SDN List (or any combination of such entities or
persons). 
 “EEA Financial Institution” means (a) any credit institution or investment firm established in any EEA
Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any
financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent. 

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

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

“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as in effect from time to time. 

“ERISA Affiliate” shall mean any Person, including a Subsidiary or an Affiliate of the Borrower, that is a member of any
group of organizations of which the Borrower is a member and is treated as a single employer with the Borrower under Section 414 of the Code. 

  
 -6- 

 “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. 

“Eurodollar Rate” means, for any Interest Period with respect to a LIBOR Advance, the rate per annum equal to the ICE
Benchmark Administration Settlement Rate (or, if the ICE Benchmark Administration is no longer making such a rate available, such other commercially available source providing quotations of LIBOR as reasonably selected by the Administrative Agent
from time to time) (“LIBOR”), as published by Reuters (or such other commercially available source providing quotations of LIBOR as may be designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London
time, two Business Days prior to the commencement of such Interest Period, for US Dollar deposits (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period; provided that if the Eurodollar
Rate shall be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement. 
 “Eurodollar Reserve
Percentage” shall mean the percentage which is in effect from time to time under Regulation D of the Board of Governors of the Federal Reserve System, as such regulation may be amended from time to time, as the maximum reserve requirement
applicable with respect to Eurocurrency Liabilities (as that term is defined in Regulation D), whether or not any Lender has any such Eurocurrency Liabilities subject to such reserve requirement at that time. 

“Event of Default” shall mean any of the events specified in Section 8.1 hereof; provided,
however, that any requirement stated therein for notice or lapse of time, or both, has been satisfied. 
 “Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended. 
 “Existing ABS Facility” shall mean each
mortgage loan facility existing on the Agreement Date and listed on Schedule 2. 
 “Existing Credit Agreements” shall mean
(i) the Amended and Restated Multicurrency Revolving Credit Agreement dated as of December 20, 2019, among the Borrower and certain agents and lenders from time to time party thereto, (ii) the Second Amended and Restated Revolving
Credit Agreement dated as of December 20, 2019, among the Borrower and certain agents and lenders from time to time party thereto, (iii) the Amended and Restated Term Loan Agreement dated as of December 20, 2019, among the Borrower
and certain agents and lenders from time to time party thereto and (iv) the Term Loan Agreement dated as of February 13, 2020 among the Borrower and certain agents and lenders from time to time party thereto. 

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

  
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agreement, treaty or convention among governmental authorities and implementing such Sections of the Code. 

“FCC” shall mean the Federal Communications Commission, or any other similar or successor agency of the Federal government
administering the Communications Act. 
 “Federal Funds Rate” shall mean, for any period, a fluctuating interest rate per
annum equal for each day during such period to the rate published for such day (or, if such day is not a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York for overnight Federal funds transactions with members
of the Federal Reserve System, or, if such rate is not so published for any day that is a Business Day, the quotation for such day on such transactions received by the Administrative Agent from a Federal funds broker of recognized standing selected
by it; provided that if the Federal Funds Rate shall be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement. 

“Fitch” shall mean Fitch, Inc. (Fitch Ratings), and its successors. 

“Foreign Subsidiary” shall mean a Subsidiary whose place of registration, incorporation, organization or domicile is outside
of the United States of America. 
 “Funds From Operations” means net income (computed in accordance with GAAP), excluding
gains (or losses) from sales of property and extraordinary and unusual items, plus depreciation, amortization and dividends declared on preferred stock, and after adjustments for unconsolidated minority interests, on a consolidated basis for
the Borrower and its Subsidiaries. 
 “GAAP” shall mean generally accepted accounting principles in the United States,
consistently applied and as in effect on the date of this Agreement. 
 “Granting Lender” shall have the meaning ascribed
thereto in Section 11.4(f) hereof. 
 “Guaranty”, as applied to an obligation, shall mean and
include (a) a guaranty, direct or indirect, in any manner, of all or any part of such obligation, and (b) any agreement, direct or indirect, contingent or otherwise, the practical effect of which is to assure in any way the payment or
performance (or payment of damages in the event of non-performance) of all or any part of such obligation, including, without limiting the foregoing, any reimbursement obligations as to amounts drawn down by
beneficiaries of outstanding letters of credit or capital call requirements; provided, however, that the term “Guaranty” shall only include guarantees of Indebtedness. 

“Hedge Agreements” shall mean, with respect to any Person, any agreements or other arrangements to which such Person is a
party relating to any rate swap transaction, basis swap, forward rate transaction, interest rate cap transaction, interest rate floor transaction, interest rate collar transaction, currency swap transaction, cross-currency rate swap transaction, or
any other similar transaction, including an option to enter into any of the foregoing or any combination of the foregoing. 

“Incremental Term Loan” shall mean the amounts advanced by the Lenders with an Incremental Term Loan Commitment to the
Borrower pursuant to this Agreement. 

  
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 “Incremental Term Loan Commitment” shall have the meaning ascribed thereto
in Section 2.13 hereof. 
 “Indebtedness” shall mean, with respect to any Person and without
duplication: 
 (a) indebtedness for money borrowed of such Person and indebtedness of such Person evidenced by notes payable, bonds,
debentures or other similar instruments or drafts accepted representing extensions of credit; 
 (b) all indebtedness of such Person upon
which interest charges are customarily paid (other than trade payables arising in the ordinary course of business, but only if and so long as such accounts are payable on customary trade terms); 

(c) all Capitalized Lease Obligations of such Person; 

(d) all reimbursement obligations of such Person with respect to outstanding letters of credit; 

(e) all indebtedness of such Person issued or assumed as full or partial payment for property or services (other than trade payables arising
in the ordinary course of business, but only if and so long as such accounts are payable on customary trade terms); 
 (f) all net
obligations of such Person under Hedge Agreements valued on a marked to market basis on the date of determination; 
 (g) all direct or
indirect obligations of any other Person secured by any Lien to which any property or asset owned by such Person is subject, but only to the extent of the higher of the fair market value or the book value of the property or asset subject to such
Lien (if less than the amount of such obligation), if the obligation secured thereby shall not have been assumed; and 
 (h) Guaranties by
such Person of any of the foregoing of any other Person. 
 “Indemnitee” shall have the meaning ascribed thereto in
Section 11.5 hereof. 
 “Interest Expense” shall mean, for any Person and for any period, all
cash interest expense (including imputed interest with respect to Capitalized Lease Obligations and commitment fees) with respect to any Indebtedness (including, without limitation, the Obligations) and Attributable Debt of such Person during such
period pursuant to the terms of such Indebtedness. 
 “Interest Period” shall mean (a) in connection with any Base
Rate Advance, the period beginning on the date such Advance is made as or Converted to a Base Rate Advance and ending on the last day of the fiscal quarter in which such Advance is made as or Converted to a Base Rate Advance; provided,
however, that if a Base Rate Advance is made or Converted on the last day of any fiscal quarter, it shall have an Interest Period ending on, and its Payment Date shall be, the last day of the following fiscal quarter, and (b) in
connection with any LIBOR Advance, the term of such LIBOR Advance selected by the Borrower or otherwise determined in 

  
 -9- 

 
accordance with this Agreement. Notwithstanding the foregoing, however, (i) any applicable Interest Period which would otherwise end on a day which is not a Business Day shall be extended to
the next Business Day unless, with respect to LIBOR Advances with an Interest Period longer than one week only, such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Business Day,
(ii) any applicable Interest Period, with respect to LIBOR Advances with an Interest Period longer than one week only, which begins on a day for which there is no numerically corresponding day in the calendar month during which such Interest
Period is to end shall (subject to clause (i) above) end on the last day of such calendar month, and (iii) the Borrower shall not select an Interest Period with respect to any portion of the Loans which extends beyond the Term Loan
Maturity Date or such earlier date as would interfere with the Borrower’s repayment obligations under Section 2.6 hereof. Interest shall be due and payable with respect to any Advance as provided in
Section 2.3 hereof. 
 “Interest Rate Basis” shall mean the Base Rate Basis or the LIBOR Basis,
as appropriate. 
 “Investment” shall mean any investment or loan by the Borrower or any of its Subsidiaries in or to any
Person which Person, after giving effect to such investment or loan, is not consolidated with the Borrower and its Subsidiaries in accordance with GAAP. 

“Joint Lead Arrangers” shall mean TD Securities (USA) LLC, CoBank, ACB and Santander Bank, N.A. 

“known to the Borrower”, “to the knowledge of the Borrower” or any similar phrase, shall mean known by, or
reasonably should have been known by, the executive officers of the Borrower (which shall include, without limitation, the chief executive officer, the chief operating officer, if any, the chief financial officer and the general counsel of the
Borrower). 
 “Lenders” shall mean the Persons whose names appear as “Lenders” on the signature pages
hereof, any other Person which becomes a “Lender” hereunder after the Agreement Date by executing an Assignment and Assumption substantially in the form of Exhibit F attached hereto in accordance with the provisions hereof;
and “Lender” shall mean any one of the foregoing Lenders. 
 “LIBOR Advance” shall mean an Advance which
the Borrower requests to be made as, Converted to or Continued as a LIBOR Advance in accordance with the provisions of Section 2.2 hereof, and which shall be in a principal amount of at least $5,000,000.00 and in an
integral multiple of $1,000,000.00. 
 “LIBOR Basis” shall mean a simple per annum interest rate (rounded upward, if
necessary, to the nearest one-hundredth (1/100th) of one percent (1%)) equal to the sum of (a) the quotient of (i) the Eurodollar Rate divided by (ii) one (1) minus the Eurodollar
Reserve Percentage, if any, stated as a decimal, plus (b) the Applicable Margin. The LIBOR Basis shall apply to Interest Periods of one (1) week, one (1), two (2), three (3), or six (6) months, and, once determined, shall
remain unchanged during the applicable Interest Period, except for changes to reflect adjustments in the Eurodollar Reserve Percentage. The LIBOR Basis for any LIBOR 

  
 -10- 

 
Advance shall be adjusted as of the effective date of any change in the Eurodollar Reserve Percentage. 

“Licenses” shall mean, collectively, any telephone, microwave, radio transmissions, personal communications or other license,
authorization, certificate of compliance, franchise, approval or permit, whether for the construction, the ownership or the operation of any communications tower facilities, granted or issued by the FCC and held by the Borrower or any of its
Subsidiaries. 
 “Lien” shall mean, with respect to any property, any mortgage, lien, pledge, charge, security interest,
title retention agreement or other encumbrance of any kind in respect of such property. 
 “Loan Documents” shall mean,
collectively, this Agreement, the Notes, all fee letters, all Requests for Advance and all other certificates, documents, instruments and agreements executed or delivered by the Borrower in connection with or contemplated by this Agreement.

 “Loans” shall mean the Term Loans and the Incremental Term Loans. 

“London Banking Day” means any day on which dealings in US Dollar deposits are conducted by and between banks in the
London interbank eurodollar market. 
 “Majority Lenders” shall mean Lenders the total of whose Loans then outstanding,
exceeds fifty percent (50%) of the sum of the aggregate Loans then outstanding; provided that the Commitment of, and the portion of the Loans then outstanding held or deemed held by, any Defaulting Lender shall be excluded for purposes of
making a determination of Majority Lenders. 
 “Material Subsidiary” shall mean any Subsidiary of the Borrower whose
Adjusted EBITDA, as of the last day of any fiscal year, is greater than ten percent (10%) of the Adjusted EBITDA of the Borrower and its subsidiaries on a consolidated basis as of such date. 

“Material Subsidiary Group” shall mean one or more Subsidiaries of the Borrower when taken as a whole whose Adjusted EBITDA,
as of the last day of any fiscal year, is greater than ten percent (10%) of the Adjusted EBITDA of the Borrower and its subsidiaries on a consolidated basis as of such date. 

“Materially Adverse Effect” shall mean (a) any material adverse effect upon the business, assets, liabilities, financial
condition or results of operations of the Borrower and its Subsidiaries, taken as a whole, or (b) a material adverse effect upon any material rights or benefits of the Lenders or the Administrative Agent under the Loan Documents. 

“Moody’s” shall mean Moody’s Investor’s Service, Inc., and its successors. 

“Necessary Authorizations” shall mean all approvals and licenses from, and all filings and registrations with, any
governmental or other regulatory authority, including, without limiting the foregoing, the Licenses and all approvals, licenses, filings and registrations under the Communications Act, necessary in order to enable the Borrower and its Subsidiaries
to own, 

  
 -11- 

 
construct, maintain, and operate communications tower facilities and to invest in other Persons who own, construct, maintain, manage and operate communications tower facilities. 

“Net Income” shall mean, for any Person and for any period of determination, net income of such Person determined in
accordance with GAAP. 
 “New Lender” shall have the meaning ascribed thereto in Section 2.13
hereof. 
 “Non-Consenting Lender” shall have the meaning ascribed thereto in
Section 11.11(b) hereof. 
 “Non-Excluded Taxes” shall
have the meaning ascribed thereto in Section 10.3(b) hereof. 

“Non-U.S. Person” shall mean a Person who is not a U.S. Person. 

“Notes” shall mean, collectively, those certain term loan promissory notes in an aggregate original principal amount of up to
the Commitments, issued by the Borrower to the Lenders, each one substantially in the form of Exhibit C attached hereto, and any extensions, renewals or amendments to, or replacements of, the foregoing. 

“Obligations” shall mean all payment and performance obligations of every kind, nature and description of the Borrower to the
Lenders or the Administrative Agent, or any of them, under this Agreement and the other Loan Documents (including, without limitation, any interest, fees and other charges on the Loans or otherwise under the Loan Documents that would accrue but for
the filing of a bankruptcy action with respect to the Borrower, whether or not such claim is allowed in such bankruptcy action), as they may be amended from time to time, or as a result of making the Loans, whether such obligations are direct or
indirect, absolute or contingent, due or not due, contractual or based in tort, liquidated or unliquidated, arising by operation of law or otherwise, now existing or hereafter arising. 

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

“Ownership Interests” shall mean, as applied to any Person, corporate stock and any and all securities, shares, partnership
interests (whether general, limited, special or other), limited liability company interests, membership interests, equity interests, participations, rights or other equivalents (however designated and of any character) of corporate stock of such
Person or any of the foregoing issued by such Person (whether a corporation, a partnership, a limited liability company or another type of entity) and includes, without limitation, securities convertible into Ownership Interests and rights, warrants
or options to acquire Ownership Interests. 
 “Payment Date” shall mean the last day of any Interest Period. 

“PBGC” shall mean the Pension Benefit Guaranty Corporation, or any successor thereto. 

“Permitted Liens” shall mean, collectively, as applied to any Person: 

  
 -12- 

 (a) (i) Liens on real estate or other property for taxes, assessments, governmental charges
or levies not yet delinquent and (ii) Liens for taxes, assessments, judgments, governmental charges or levies or claims the non-payment of which is being diligently contested in good faith by appropriate
proceedings and for which adequate reserves have been set aside on such Person’s books in accordance with GAAP; 
 (b) Liens incurred
in the ordinary course of the Borrower’s business (i) for sums not yet due or being diligently contested in good faith, or (ii) incidental to the ownership of its assets that, in each case, were not incurred in connection with the
borrowing of money, such as Liens of carriers, warehousemen, mechanics, vendors (solely to the extent arising by operation of law), laborers and materialmen, in each case, if reserves in accordance with GAAP or appropriate provisions shall have been
made therefor; 
 (c) Liens incurred in the ordinary course of business in connection with worker’s compensation and unemployment
insurance, social security obligations, assessments or government charges which are not overdue for more than sixty (60) days; 
 (d)
restrictions on the transfer of the Licenses or assets of the Borrower or any of its Subsidiaries imposed by any of the Licenses by the Communications Act and any regulations thereunder; 

(e) easements, rights-of-way, zoning restrictions, licenses,
reservations or restrictions on use and other similar encumbrances on the use of real property which do not materially interfere with the ordinary conduct of the business of such Person or the use of such property in the operation of the business by
such Person; 
 (f) Liens arising by operation of law in favor of purchasers in connection with any asset sale permitted hereunder;
provided, however, that such Lien only encumbers the property being sold; 
 (g) Liens in respect of Capitalized Lease
Obligations, so long as such Liens only attach to the assets leased thereunder, and Liens reflected by Uniform Commercial Code financing statements filed in respect of true leases or subleases of the Borrower or any of its Subsidiaries; 

(h) Liens to secure performance of statutory obligations, surety or appeal bonds, performance bonds, bids or tenders; 

(i) judgment Liens which do not result in an Event of Default under Section 8.1(h) hereof; 

(j) Liens in connection with escrow or security deposits made in connection with Acquisitions permitted hereunder; 

(k) Liens created on any Ownership Interests of Subsidiaries of the Borrower that are not Material Subsidiaries held by the Borrower or
any of its Subsidiaries; provided, however, that such Lien is not securing Indebtedness of the Borrower or any of its U.S. Subsidiaries; 

  
 -13- 

 (l) Liens in favor of the Borrower or any of its Subsidiaries; 

(m) banker’s Liens, rights of set-off or similar rights and remedies as to deposit accounts or
other funds maintained with a depositary institution; provided that such deposit account is not (i) a dedicated cash collateral account and is not subject to restrictions against access in excess of those set forth by regulations
promulgated by the Federal Reserve Board or other Applicable Law; and (ii) intended to provide collateral to the depositary institution; 

(n) licenses, sublicenses, leases or subleases granted by the Borrower or any of its Subsidiaries to any other Person in the ordinary course
of business; 
 (o) Liens in the nature of trustees’ Liens granted pursuant to any indenture governing any Indebtedness permitted
hereunder, in each case in favor of the trustee under such indenture and securing only obligations to pay compensation to such trustee, to reimburse its expenses and to indemnify it under the terms thereof; 

(p) Liens on property of the Borrower or any of its Subsidiaries at the time the Borrower or such Subsidiary acquired the property, including
acquisition by means of a merger or consolidation with or into the Borrower or such Subsidiary, or an acquisition of assets; provided that such Liens (i) are not created, incurred or assumed in connection with or in contemplation of such
acquisition and (ii) may not extend to any other property owned by the Borrower or such Subsidiary; 
 (q) Liens on property or assets
of any Foreign Subsidiary of the Borrower securing the Indebtedness of such Foreign Subsidiary; and 
 (r) Liens securing obligations under
Hedge Agreements in an aggregate amount of such obligations not to exceed $100,000,000 at any time outstanding. 
 “Person”
shall mean an individual, corporation, limited liability company, association, partnership, joint venture, trust or estate, an unincorporated organization, a government or any agency or political subdivision thereof, or any other entity. 

“Plan” shall mean an employee benefit plan within the meaning of Section 3(3) of ERISA or any other employee benefit
plan maintained for employees of the Borrower or any of its Subsidiaries or ERISA Affiliates. 
 “Platform” shall have the
meaning ascribed thereto in Section 6.6 hereof. 
 “Proposed Change” shall have the meaning
ascribed thereto in Section 11.11(b) hereof. 
 “Register” shall have the meaning ascribed thereto in
Section 11.4(c) hereof. 
 “REIT” shall mean a “real estate investment trust” as
defined and taxed under Section 856-860 of the Code. 

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

“Replacement Lender” shall have the meaning ascribed thereto in Section 10.5 hereof. 

“Request for Advance” shall mean a certificate designated as a “Request for Advance,” signed by an
Authorized Signatory of the Borrower requesting the Advance to be made under Section 2.1, or a Continuation or Conversion hereunder, which shall be in substantially the form of Exhibit A attached
hereto, and shall, among other things, (i) specify the date of the requested Advance, Continuation or Conversion (which shall be a Business Day), the amount of the Advance being made or being Continued or Converted, the type of Advance (LIBOR
or Base Rate), and, with respect to a LIBOR Advance, the Interest Period with respect thereto, (ii) state that there shall not exist, on the date of the requested Advance, Continuation or Conversion and after giving effect thereto, a Default,
(iii) designate the amount of the Commitments being drawn (if any), and (iv) designate the amount of the Loans being Continued or Converted. 

“Resolution Authority” means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution
Authority. 
 “Restricted Payment” shall mean any direct or indirect distribution, dividend or other payment to any Person
(other than to the Borrower or any of its Subsidiaries) on account of any Ownership Interests of the Borrower or any of its Subsidiaries (other than dividends payable solely in Ownership Interests of such Person or in warrants or other rights
or options to acquire such Ownership Interests). 
 “S&P” shall mean S&P Global Ratings, and its successors. 

“Sale and Leaseback Transaction” shall mean any arrangement, directly or indirectly, with any third party whereby the
Borrower or any of its Subsidiaries shall sell or transfer any property, real or personal, whether now owned or hereafter acquired, and whereby the Borrower or any of its Subsidiaries shall then or thereafter rent or lease as lessee such property or
any part thereof or other property which the Borrower or any of its Subsidiaries intend to use for substantially the same purpose or purposes as the property sold or transferred, except for such arrangements for fair market value. 

“Sanctioned Country” means a country that is, or whose government is, the target or subject of a sanctions program identified
on the list maintained by (a) OFAC and available at http://www.treas.gov/offices/enforcement/ofac/programs, or as otherwise published from time to time or (b) the United Nations Security Council, European Union or the United
Kingdom. 
 “Sanctions Laws and Regulations” means (i) any sanctions, prohibitions or requirements imposed by any
executive order (an “Executive Order”) or by any sanctions program administered by the U.S. Department of the Treasury Office of Foreign Assets Control that apply to the Borrower; and (ii) any sanctions measures imposed by the
United Nations Security Council, European Union or the United Kingdom that apply to the Borrower. 

  
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 “Senior Secured Debt” shall mean, for the Borrower and its Subsidiaries on
a consolidated basis as of any date, the aggregate amount of secured Indebtedness plus Attributable Debt of such Persons as of such date (including, without limitation, Indebtedness under any Existing ABS Facility and Indebtedness under any
additional ABS Facilities entered into in accordance with Section 7.1(h) hereof). 
 “SPC” shall
have the meaning ascribed thereto in Section 11.4(f) hereof. 
 “Subsidiary” shall mean, as
applied to any Person, (a) any corporation, partnership or other entity of which no less than a majority of the Ownership Interests having ordinary voting power to elect a majority of its board of directors or other persons performing similar
functions or such corporation, partnership or other entity, whether or not at the time any Ownership Interests of any other class or classes of such corporation, partnership or other entity shall or might have voting power by reason of the happening
of any contingency, is at the time owned directly or indirectly by such Person, or by one or more Subsidiaries of such Person, or by such Person and one or more Subsidiaries of such Person; provided, however, that if such Person and/or
such Person’s Subsidiaries directly or indirectly own less than a majority of such Subsidiary’s Ownership Interests, then such Subsidiary’s operating or governing documents must require (i) such Subsidiary’s net cash after
the establishment of reserves be distributed to its equity holders no less frequently than quarterly and (ii) the consent of such Person and/or such Person’s Subsidiaries to amend or otherwise modify the provisions of such operating or
governing documents requiring such distributions, or (b) any other entity which is directly or indirectly controlled or capable of being controlled by such Person, or by one or more Subsidiaries of such Person, or by such Person and one or more
Subsidiaries of such Person. Notwithstanding the foregoing, no Unrestricted Subsidiary shall be deemed to be a Subsidiary of the Borrower or any of its Subsidiaries for the purposes of this Agreement or any other Loan Document. 

“Taxes” shall have the meaning assigned thereto in Section 10.3(b). 

“Term Loan Commitment” shall mean, as to each Lender its obligation to make a Term Loan to the Borrower pursuant to
Section 2.1 in a principal amount not to exceed the Term Loan Commitment amount set forth (a) opposite such Lender’s name on Schedule 1 or (b) in the Assignment and Assumption pursuant to which such
Lender becomes a party hereto, as applicable. The aggregate Term Loan Commitments on the Agreement Date are $1,140,000,000. 
 “Term
Loan Maturity Date” shall mean April 2, 2021, or such earlier date as payment of the Loans shall be due (whether by acceleration or otherwise). 

“Term Loans” shall mean, collectively, the amounts advanced by the Lenders with a Term Loan Commitment to the Borrower
pursuant to this Agreement. 
 “Toronto Dominion” shall mean Toronto Dominion (Texas) LLC or any of its affiliates that is
a bank. 
 “Total Debt” shall mean, for the Borrower and its Subsidiaries on a consolidated basis as of any date, (a) the
sum (without duplication) of (i) the outstanding principal amount of the Loans as of such date, (ii) the aggregate amount of Indebtedness plus Attributable Debt of such 

  
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Persons as of such date, (iii) the aggregate amount of all Guaranties by such Persons of Indebtedness as of such date, and (iv) to the extent payable by the Borrower, an amount equal to
the aggregate exposure of the Borrower under any Hedge Agreements permitted pursuant to Section 7.1 hereof, as calculated on a marked to market basis as of the last day of the fiscal quarter being tested or the last day of
the most recently completed fiscal quarter, as applicable less (b) the sum of all unrestricted domestic cash and Cash Equivalents of the Borrower and its Subsidiaries as of such date. 

“UK Financial Institution” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form time
to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes
certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms. 
 “UK
Resolution Authority” means the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution. 

“U.S. Person” shall mean a citizen or resident of the United States of America, a corporation, partnership or other entity
created or organized in or under any laws of the United States of America, or any estate or trust that is subject to Federal income taxation regardless of the source of its income. 

“U.S. Subsidiary” shall mean any Subsidiary that is not a Foreign Subsidiary. 

“Unrestricted Subsidiary” shall mean any Subsidiary of the Borrower that is hereafter designated by the Borrower as an
Unrestricted Subsidiary by notice to the Administrative Agent and the Lenders; provided that (a) no Material Subsidiary shall be designated as an Unrestricted Subsidiary without the prior written consent of the Majority Lenders,
(b) the aggregate Adjusted EBITDA of the Unrestricted Subsidiaries (without duplication) shall not exceed 20% of consolidated Adjusted EBITDA of the Borrower and its subsidiaries, and (c) no Subsidiary of the Borrower may be designated as
an Unrestricted Subsidiary after the occurrence and during the continuance of a Default or an Event of Default; provided, further, that the designation by the Borrower of a Subsidiary as an Unrestricted Subsidiary may be revoked by the
Borrower at any time by notice to the Administrative Agent and the Lenders so long as no Default would be caused thereby, from and after which time such Subsidiary will no longer be an Unrestricted Subsidiary. 

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

  
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under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In Legislation that are related to or ancillary to
any of those powers. 
 Section 1.2 Interpretation. Except where otherwise specifically restricted, reference to a party
to this Agreement or any other Loan Document includes that party and its successors and assigns. All capitalized terms used herein which are defined in Article 9 of the Uniform Commercial Code in effect in the State of New York or other
applicable jurisdiction on the date hereof and which are not otherwise defined herein shall have the same meanings herein as set forth therein. Whenever any agreement, promissory note or other instrument or document is defined in this Agreement,
such definition shall be deemed to mean and include, from and after the date of any amendment, restatement, supplement, confirmation or modification thereof, such agreement, promissory note or other instrument or document as so amended, restated,
supplemented, confirmed or modified, unless stated to be as in effect on a particular date. All terms defined in this Agreement in the singular shall have comparable meanings when used in the plural and vice versa. 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. 

Section 1.3 Cross References. Unless otherwise specified, references in this Agreement and in each other Loan Document to
any Article or Section are references to such Article or Section of this Agreement or such other Loan Document, as the case may be, and, unless otherwise specified, references in any Article, Section or definition to any clause are references to
such clause in such Article, Section or definition. 
 Section 1.4 Accounting Provisions. Unless otherwise expressly
provided herein, all references in this Agreement to GAAP shall mean GAAP as in effect on the date of this Agreement as published by the Financial Accounting Standards Board. All accounting terms used in this Agreement and not defined expressly,
completely or specifically herein shall have the respective meanings given to them, and shall be construed, in accordance with GAAP. All financial data (including financial ratios and other financial calculations) required to be submitted pursuant
to this Agreement shall be prepared in accordance with GAAP applied in a manner consistent with that used to prepare the most recent audited consolidated financial statements of the Borrower and its Subsidiaries. All financial or accounting
calculations or determinations required pursuant to this Agreement shall be made, and all references to the financial statements of the Borrower, Adjusted EBITDA, Senior Secured Debt, Total Debt, Interest Expense, Consolidated Total Assets and other
such financial terms shall be deemed to refer to such items, unless otherwise expressly provided herein, on a consolidated basis for the Borrower and its Subsidiaries. Notwithstanding the foregoing, leases shall continue to be classified and
accounted for on a basis consistent with that reflected in the financial statements of the Borrower for the fiscal year ended December 31, 2018 for all purposes, notwithstanding any change in GAAP relating thereto, including with respect to
Accounting Standards Codification 842. 
 Section 1.5 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 

  
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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 2 - LOANS 

Section 2.1 The Term Loans. The Lenders agree severally, and not jointly, upon the terms and subject to the conditions of
this Agreement, to lend to the Borrower on the Agreement Date an amount equal to (i) in the aggregate, the Commitments of all Lenders and, (ii) individually, the sum of such Lender’s Term Loan Commitment and such
Lender’s Incremental Term Loan Commitment. Amounts borrowed under this Section 2.1 and repaid or prepaid may not be reborrowed. 

Section 2.2 Manner of Advance and Disbursement. 

(a) Choice of Interest Rate, Etc. The Advances hereunder shall, at the option of the Borrower, be made as one or more Base Rate
Advances or LIBOR Advances; provided, however, that at such time as there shall have occurred and be continuing a Default hereunder, the Borrower shall not have the right to Continue a LIBOR Advance or to Convert a Base Rate Advance to a
LIBOR Advance. Any notice given to the Administrative Agent in connection with a requested Advance or Conversion hereunder shall be given to the Administrative Agent prior to 11:00 a.m. (New York, New York time) in order for such Business Day to
count toward the minimum number of Business Days required. 
 (b) Base Rate Advances. 

(i) Advances. The Borrower shall give the Administrative Agent in the case of Base Rate Advances irrevocable prior
telephonic notice followed immediately by a Request for Advance by 9:00 A.M. (New York, New York time) on the date of such proposed Base Rate Advance; provided, however, that the Borrower’s failure to confirm any telephonic notice
with a Request for Advance shall not invalidate any notice so given if acted upon by the Administrative Agent. Upon receipt of such notice from the Borrower, the Administrative Agent shall promptly notify each Lender by telephone, followed promptly
by email or telecopy of the contents thereof. 
 (ii) Conversions. The Borrower may, without regard to the applicable
Payment Date and upon at least three (3) Business Days’ irrevocable prior telephonic notice by 11:00 A.M. (New York, New York time) followed by a Request for Advance, Convert all or a portion of the principal of a Base Rate Advance
to a LIBOR Advance. On the date indicated by the Borrower, such Base Rate Advance shall be so Converted. The failure to give timely notice hereunder with respect to the Payment Date of any Base Rate Advance shall be considered a request for a Base
Rate Advance. 
 (c) LIBOR Advances. Upon request, the Administrative Agent, whose determination in absence of manifest error shall
be conclusive, shall determine the available LIBOR Basis and shall notify the Borrower of such LIBOR Basis to apply for the applicable LIBOR Advance. 

  
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 (i) Advances. The Borrower shall give the Administrative Agent in the
case of LIBOR Advances at least three (3) Business Days’ irrevocable prior telephonic notice followed immediately by a Request for Advance; provided, however, that the Borrower’s failure to confirm any telephonic
notice with a Request for Advance shall not invalidate any notice so given if acted upon by the Administrative Agent. Upon receipt of such notice from the Borrower, the Administrative Agent shall promptly notify each Lender by telephone, email or
telecopy of the contents thereof. 
 (ii) Conversions and Continuations. At least three (3) Business Days
prior to the Payment Date for each LIBOR Advance, the Borrower shall give the Administrative Agent telephonic notice followed by written notice specifying whether all or a portion of such LIBOR Advance (A) is to be Continued in whole or
in part as one or more LIBOR Advances, (B) is to be Converted in whole or in part to a Base Rate Advance, or (C) is to be repaid. The failure to give such notice shall be considered a request to Continue such Advance as a
LIBOR Rate Advance with a one month Interest Period. Upon such Payment Date such LIBOR Advance will, subject to the provisions hereof, be so Continued, Converted or repaid, as applicable. 

(d) Notification of Lenders. Upon receipt of irrevocable prior telephonic notice in accordance with Section 2.2(b) or
(c) hereof or a Request for Advance, or a notice of Conversion or Continuation from the Borrower with respect to any outstanding Advance prior to the Payment Date for such Advance, the Administrative Agent shall promptly but no
later than the close of business on the day of such notice notify each Lender having the applicable Commitment or holding a Loan subject to such request for an Advance by telephone, followed promptly by written notice or telecopy, of the contents
thereof and the amount of such Lender’s portion of the Advance. Each Lender having the applicable Commitment or holding a Loan subject to such request for an Advance shall, not later than 12:00 noon (New York, New York time) on the date of
borrowing specified in such notice, make available to the Administrative Agent at the Administrative Agent’s Office, or at such account as the Administrative Agent shall designate, the amount of its portion of any Advance that represents a
borrowing hereunder in immediately available funds. 
 (e) Disbursement. 

(i) Prior to 2:00 p.m. (New York, New York time) on the date of an Advance hereunder, the Administrative Agent shall, subject
to the satisfaction of the conditions set forth in Article 3 hereof, disburse the amounts made available to the Administrative Agent by the Lenders in like funds by (A) transferring the amounts so made available by wire transfer pursuant
to the Borrower’s instructions, or (B) in the absence of such instructions, crediting the amounts so made available to the account of the Borrower maintained with the Administrative Agent. 

(ii) Unless the Administrative Agent shall have received notice from a Lender holding a Loan subject to such request for an
Advance prior to 12:00 noon (New York, New York time) on the date of a requested Advance that such Lender will not make available to the Administrative Agent such Lender’s ratable portion of such Advance, the Administrative Agent may assume
that such Lender has made or will make 

  
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such portion available to the Administrative Agent on the date of such Advance and the Administrative Agent may in its sole discretion and in reliance upon such assumption, make available to the
Borrower on such date a corresponding amount. If and to the extent a Lender does not make such ratable portion available to the Administrative Agent, such Lender agrees to repay to the Administrative Agent on demand such corresponding amount
together with interest thereon, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at the greater of the Federal Funds Rate and a rate reasonably determined by
the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the Administrative Agent in connection with the foregoing. 

(iii) If such Lender shall repay to the Administrative Agent such corresponding amount, such amount so repaid shall constitute
such Lender’s portion of the Advances for purposes of this Agreement. If such Lender does not repay such corresponding amount immediately upon the Administrative Agent’s demand therefor and the Administrative Agent has made such
corresponding amount available to the Borrower, the Administrative Agent shall notify the Borrower, and the Borrower shall immediately pay such corresponding amount to the Administrative Agent, with interest at the Federal Funds Rate from the date
the Administrative Agent made such amount available to the Borrower. The Borrower shall not be obligated to pay, and such amount shall not accrue, any interest or fees on such amount other than as provided in the immediately preceding sentence. The
failure of any Lender to fund its portion of any Advance shall not relieve any other Lender of its obligation, if any, hereunder to fund its respective portion of the Advance on the date of such borrowing, but no Lender shall be responsible for any
such failure of any other Lender. 
 Section 2.3 Interest. 

(a) On Base Rate Advances. Interest on each Base Rate Advance computed pursuant to clause (b) of the definition of Base
Rate shall be computed on the basis of a year of 365/366 days and interest computed pursuant to clause (a) of the definition of Base Rate shall be computed on the basis of a 360-day year, in each
case for the actual number of days elapsed and shall be payable at the Base Rate Basis for such Advance, in arrears on the applicable Payment Date. Interest on Base Rate Advances of the Loans then outstanding shall also be due and payable on the
Term Loan Maturity Date. 
 (b) On LIBOR Advances. Interest on each LIBOR Advance shall be computed on the basis of a 360-day year for the actual number of days elapsed and shall be payable at the LIBOR Basis for such Advance, in arrears on the applicable Payment Date, and, in addition, if the Interest Period for a LIBOR Advance
exceeds three (3) months, interest on such LIBOR Advance shall also be due and payable in arrears on every three (3) month anniversary of the beginning of such Interest Period. Interest on LIBOR Advances then outstanding
shall also be due and payable on the Term Loan Maturity Date. 
 (c) [Intentionally Omitted.] 

  
 -21- 

 (d) Interest Upon Event of Default. Immediately upon the occurrence of an Event of
Default under Section 8.1(b), (f) or (g) hereunder and following a request from the Majority Lenders upon the occurrence of any other Event of Default hereunder, the outstanding principal balance of the Loans
shall bear interest at the Default Rate. Such interest shall be payable on demand by the Majority Lenders and shall accrue until the earlier of (i) waiver or cure of the applicable Event of Default, (ii) agreement by the
Majority Lenders (or, if applicable to the underlying Event of Default, the Lenders) to rescind the charging of interest at the Default Rate or (iii) payment in full of the Obligations. 

(e) LIBOR Contracts. At no time may the number of outstanding LIBOR Advances hereunder exceed ten (10). 

(f) Applicable Margin. With respect to any Loans, the Applicable Margin shall be equal to, in the case of Base Rate Advances, 0.75% per
annum and, in the case of LIBOR Advances, 1.75% per annum. 
 Section 2.4 Fees. The Borrower agrees to pay to the
Administrative Agent certain fees in connection with the execution and delivery of this Agreement as provided in the fee letters delivered in connection herewith. 

Section 2.5 [Intentionally Omitted]. 

Section 2.6 Prepayments and Repayments. 

(a) Prepayment. The principal amount of any Base Rate Advance may be prepaid in full or ratably in part at any time, without premium or
penalty and without regard to the Payment Date for such Advance. The principal amount of any LIBOR Advance may be prepaid in full or ratably in part, upon three (3) Business Days’ prior written notice, or telephonic notice followed
immediately by written notice, to the Administrative Agent, without premium or penalty; provided, however, that, to the extent prepaid prior to the applicable Payment Date for such LIBOR Advance, the Borrower shall reimburse the
applicable Lenders, on the earlier of (A) demand by the applicable Lender or (B) the Term Loan Maturity Date, for any loss or out-of-pocket
expense incurred by any such Lender in connection with such prepayment, as set forth in Section 2.9 hereof; and provided further, however, that (i) the Borrower’s failure to confirm any
telephonic notice with a written notice shall not invalidate any notice so given if acted upon by the Administrative Agent and (ii) any notice of prepayment given hereunder may be revoked by the Borrower at any time. Any prepayment
hereunder shall be in amounts of not less than $2,000,000.00 and in an integral multiple of $1,000,000.00. Amounts prepaid shall be paid together with accrued interest on the amount so prepaid. 

(b) Repayments. The Borrower shall repay the Loans, together with accrued interest and fees with respect thereto, in full on the Term
Loan Maturity Date. 
 Section 2.7 Notes; Loan Accounts. 

(a) The Loans shall be repayable in accordance with the terms and provisions set forth herein. If requested by a Lender, one
(1) Note duly executed and delivered by one or 

  
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more Authorized Signatories of the Borrower, shall be issued by the Borrower and payable to such Lender in an amount equal to such Lender’s Commitment. 

(b) Each Lender may open and maintain on its books in the name of the Borrower a loan account with respect to its portion of the Loans and
interest thereon. Each Lender which opens such a loan account shall debit such loan account for the principal amount of its portion of each Advance made by it and accrued interest thereon, and shall credit such loan account for each payment on
account of principal of or interest on its Loans. The records of a Lender with respect to the loan account maintained by it shall be prima facie evidence of its portion of the Loans and accrued interest thereon absent manifest error, but the failure
of any Lender to make any such notations or any error or mistake in such notations shall not affect the Borrower’s repayment obligations with respect to such Loans. 

Section 2.8 Manner of Payment. 

(a) Each payment (including, without limitation, any prepayment) by the Borrower on account of the principal of or interest on the Loans and
any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the
Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by
the Administrative Agent after 1:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New York, New
York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of
business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative
Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.8, the Administrative Agent agrees to pay such
Lender interest from the date such payment was due until paid at the Federal Funds Rate. 
 (b) The Borrower agrees to pay principal,
interest, fees and all other amounts due hereunder or under the Notes without set-off or counterclaim or any deduction whatsoever, except as provided in Section 10.3 hereof. 

(c) Prior to the acceleration of the Loans under Section 8.2 hereof, if some but less than all amounts due from the Borrower are
received by the Administrative Agent with respect to the Obligations, the Administrative Agent shall distribute such amounts in the following order of priority, all on a pro rata basis to the Lenders: (i) to the payment on a pro rata
basis of any fees or expenses then due and payable to the Administrative Agent or expenses then due and payable to the Lenders; (ii) to the payment of interest then due and payable on the Loans on a pro rata basis and of fees then due
and payable to the Lenders on a pro rata basis; (iii) to the payment of all other amounts not otherwise referred to in this Section 2.8(c) then due and 

  
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payable to the Administrative Agent and the Lenders, or any of them, hereunder or under the Notes or any other Loan Document; and (iv) to the payment of principal then due and payable
on the Loans on a pro rata basis. 
 (d) Subject to any contrary provisions in the definition of Interest Period, if any payment under this
Agreement or any of the other Loan Documents is specified to be made on a day which is not a Business Day, it shall be made on the next Business Day, and such extension of time shall in such case be included in computing interest and fees, if any,
in connection with such payment. 
 Section 2.9 Reimbursement. 

(a) Whenever any Lender shall sustain or incur any losses or reasonable
out-of-pocket expenses in connection with (i) the failure by the Borrower to borrow, Continue or Convert any LIBOR Advance after having given notice of its
intention to borrow, Continue or Convert such Advance in accordance with Section 2.2 or 2.6 hereof (whether by reason of the Borrower’s election not to proceed or the non-fulfillment of
any of the conditions set forth in Article 3 hereof, but not as a result of a failure of such Lender to make a Loan in accordance with the terms of this Agreement), or (ii) the prepayment other than on the applicable Payment Date (or
failure to prepay after giving notice thereof) of any LIBOR Advance in whole or in part for any reason, the Borrower agrees to pay to such Lender, upon such Lender’s demand, an amount sufficient to compensate such Lender for all such losses and
out-of-pocket expenses. Such Lender’s good faith determination of the amount of such losses or
out-of-pocket expenses, as set forth in writing and accompanied by calculations in reasonable detail demonstrating the basis for its demand, shall be presumptively
correct absent manifest error. 
 (b) Losses subject to reimbursement hereunder shall include, without limiting the generality of the
foregoing, reasonable out-of-pocket expenses incurred by any Lender or any participant of such Lender permitted hereunder in connection with the re-employment of funds prepaid, paid, repaid, not borrowed, or not paid, as the case may be, but not losses resulting from lost Applicable Margin or other margin. Losses subject to reimbursement will be payable
whether the Term Loan Maturity Date is changed by virtue of an amendment hereto (unless such amendment expressly waives such payment) or as a result of acceleration of the Loans. 

(c) Failure or delay on the part of any Lender to demand compensation pursuant to the foregoing provisions of this Section 2.9
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 the foregoing provisions of this Section for any losses or expenses incurred
more than six (6) months prior to the date that such Lender notifies the Borrower of the circumstances giving rise to such losses or expenses and of such Lender’s intention to claim compensation therefor. 

Section 2.10 Pro Rata Treatment. 

(a) [Intentionally Omitted.] 

(b) Payments. Except as provided in Article 10 hereof, each payment and prepayment of principal of, and interest on, the Loans shall be
made to the Lenders pro rata on 

  
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the basis of their respective unpaid principal amounts outstanding under the applicable Loans immediately prior to such payment or prepayment. 

(c) Sharing of Payments by Lenders. If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment
in respect of any principal of or interest on any of the Loans made by it resulting in such Lender’s receiving payment of a proportion of the aggregate amount of such Loans and accrued interest thereon greater than its pro rata share thereof as
provided herein, then the Lender receiving such greater proportion shall (a) notify the Administrative Agent of such fact, and (b) purchase (for cash at face value) participations in the Loans of the other Lenders, or make
such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the Lenders ratably, 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 Section shall not be construed to apply to (y) any payment made by or on behalf of the
Borrower pursuant to and in accordance with the express terms of this Agreement or (z) 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.

 The Borrower agrees that any Lender so purchasing a participation from another Lender pursuant to this
Section 2.10(b) may, to the fullest extent permitted by law, exercise all its rights of payment (including, without limitation, the right of set-off) with respect to such
participation as fully as if such purchasing Lender were the direct creditor of the Borrower in the amount of such participation. 

Section 2.11 Capital Adequacy. If after the date hereof, the adoption of any Applicable Law regarding the capital adequacy
or liquidity of banks or bank holding companies, or any change in Applicable Law (whether adopted before or after the Agreement Date) or any change in the interpretation or administration thereof by any governmental authority, central bank or
comparable agency charged with the interpretation or administration thereof, including any such change resulting from the enactment or issuance of any regulation or regulatory interpretation affecting existing Applicable Law, or compliance by such
Lender (or the bank holding company of such Lender) with any directive regarding capital adequacy or liquidity (whether or not having the force of law) of any such governmental authority, central bank or comparable agency, has or would have the
effect of reducing the rate of return on any Lender’s capital as a consequence of its obligations hereunder with respect to the Loans to a level below that which it could have achieved but for such adoption, change or compliance (taking into
consideration such Lender’s policies with respect to capital adequacy or liquidity immediately before such adoption, change or compliance and assuming that such Lender’s (or the bank holding company of such Lender) capital was fully
utilized prior to such adoption, change or compliance) by an amount reasonably deemed by such Lender to be material, then, upon demand by such Lender, the Borrower shall promptly pay to such Lender such additional amounts as shall be sufficient to
compensate such Lender (on an after-tax basis and without duplication of amounts paid by the Borrower pursuant 

  
 -25- 

 
to Section 10.3) for such reduced return which is reasonably allocable to this Agreement, together with interest on such amount from the fourth (4th) Business Day after the date of
demand or the Term Loan Maturity Date, as applicable, until payment in full thereof at the Default Rate; provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and
all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking
Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be enacted, adopted or issued after the date hereof, regardless of the
date enacted, adopted or issued. A certificate of such Lender setting forth the amount to be paid to such Lender by the Borrower as a result of any event referred to in this paragraph and supporting calculations in reasonable detail shall be
presumptively correct absent manifest error. Notwithstanding any other provision of this Section 2.11, no Lender shall demand compensation for any increased cost or reduction referred to above if it shall not at the time be the general
policy or practice of such Lender to demand such compensation in similar circumstances under comparable provisions of other credit agreements. Failure or delay on the part of any Lender to demand compensation pursuant to the foregoing provisions of
this Section 2.11 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 the foregoing provisions of this Section for any
increased costs incurred or reductions suffered more than six (6) months prior to the date that such Lender notifies the Borrower of the circumstances giving rise to such increased costs or reductions and of such Lender’s intention
to claim compensation therefor (except that, if the circumstances giving rise to such increased costs or reductions is retroactive, then the six (6) month period referred to above shall be extended to include the period of retroactive
effect thereof). 
 Section 2.12 Lender Tax Forms. (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 paragraphs (ii)(a) and (ii)(b) of this Section) shall not be required if in the Lenders’ 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. 
 (ii) Without limiting the generality of the
foregoing: 
 (a) On or prior to the Agreement Date and on or prior to the first Business Day of each calendar year thereafter, to the
extent it may lawfully do so at such time, each 

  
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Lender which is a Non-U.S. Person shall provide each of the Administrative Agent and the Borrower (A) if such Lender is a “bank”
under Section 881(c)(3)(A) of the Code, with a properly executed original of Internal Revenue Service Form W-8BEN (or
W-8BEN-E, as applicable) or W-8ECI (or any successor form) prescribed by the Internal Revenue Service or other documents
satisfactory to the Borrower and the Administrative Agent, as the case may be, certifying (i) as to such Lender’s status as exempt from United States withholding taxes with respect to all payments to be made to such Lender hereunder
and under the Notes or (ii) that all payments to be made to such Lender hereunder and under the Notes are subject to such taxes at a rate reduced to zero by an applicable tax treaty, or (B) if such Lender is not a
“bank” within the meaning of Section 881(c)(3)(A) of the Code and intends to claim exemption from U.S. Federal withholding tax under Section 871(h) or 881(c) of the Code with respect to payments of “portfolio
interest”, a Form W-8BEN (or W-8BEN-E, as applicable), or any subsequent versions thereof or successors thereto
(and, if such Lender delivers a Form W-8BEN (or W-8BEN-E, as applicable), a certificate representing that such Lender
is not a bank for purposes of Section 881(c) of the Code, is not a ten-percent (10%) shareholder (within the meaning of Section 871(h)(3)(B) of the Code and is not a controlled foreign
corporation related to the Borrower (within the meaning of Section 864(d)(4) of the Code)), properly completed and duly executed by such Lender, indicating that such Lender is entitled to receive payments under this Agreement without
deduction or withholding of any United States Federal income taxes as permitted by the Code. If a payment made to a Lender under this Agreement would be subject to withholding Tax imposed under FATCA if such Lender fails 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 Administrative Agent and the Borrower, at the time or times prescribed by
law and at such time or times reasonably requested by the Administrative Agent or the Borrower, such documentation prescribed by Applicable Law (included as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional
documentation reasonably requested by the Administrative Agent or the Borrower as may be necessary for the Administrative Agent or the Borrower to comply with its obligations under FATCA, 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. 
 (b) On or prior to the
Agreement Date, and to the extent permitted by applicable U.S. Federal law, on or prior to the first Business Day of each calendar year thereafter, each Lender which is a U.S. Person shall provide the Administrative Agent and the Borrower a duly
completed and executed copy of the Internal Revenue Service Form W-9 or successor form to the effect that it is a U.S. Person. 

Each Lender agrees that if any form or certification it previously delivered becomes 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. In addition, each Lender agrees that if any form or certification it previously delivered expires or becomes obsolete, upon
written request by the Borrower or the Administrative Agent, such Lender shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so. 

Section 2.13 Incremental Term Loans. The Borrower may, upon five (5) Business Days’ notice to the
Administrative Agent, request a commitment for an additional term loan 

  
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from the Lenders or by adding one or more lenders, determined by the Borrower in its sole discretion, subject to the consent of the Administrative Agent (such consent not to be unreasonably
withheld), which lender or lenders are willing to commit to such increase (each such lender, a “New Lender,” and such commitment, an “Incremental Term Loan Commitment”); provided, however, that (i) the
Borrower may not request an Incremental Term Loan Commitment after the occurrence and during the continuance of an Event of Default, including, without limitation, any Event of Default that would result after giving effect to any Incremental Term
Loan, (ii) each Incremental Term Loan Commitment shall be in an amount not less than $10,000,000 or an integral multiple of $5,000,000 in excess thereof and (iii) the aggregate amount of all Incremental Term Loan Commitments
shall not exceed $750,000,000. Such notice to the Administrative Agent shall describe the amount and intended disbursement date of the Incremental Term Loan to be made pursuant to such Incremental Term Loan Commitments. An Incremental Term Loan
Commitment shall become effective upon (a) the execution by each applicable New Lender of a counterpart of this Agreement and delivering such counterpart to the Administrative Agent and (b) receipt by the Administrative Agent of a
certificate of a responsible officer of the Borrower, dated as of the date such Incremental Term Loan Commitments are proposed to take effect, certifying that as of such date each of the representations and warranties in Article 4 hereof are true
and correct in all material respects, except for those representations and warranties that are qualified by materiality or Materially Adverse Effect, which shall be true and correct, and no Default then exists. Over the term of the Agreement the
Borrower may request Incremental Term Loan Commitments no more than four (4) times. Notwithstanding anything to the contrary herein, no Lender shall be required to provide an Incremental Term Loan Commitment pursuant to this Section
2.13. 
 Section 2.14 Defaulting Lender. 

(a) Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then, until such time as
that Lender is no longer a Defaulting Lender, to the extent permitted by Applicable Law, such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in
Section 11.11. 
 (b) If the Borrower and the Administrative Agent agree in writing in their sole discretion that a Defaulting
Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon that Lender will cease to be a Defaulting Lender; provided that except to the extent otherwise expressly
agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. 

ARTICLE 3 - CONDITIONS PRECEDENT 

Section 3.1 Conditions Precedent to Effectiveness of this Agreement. The effectiveness of this Agreement is subject to the
prior or contemporaneous fulfillment (in the reasonable opinion of the Administrative Agent), or, if applicable, receipt by the Administrative Agent (in each case in form and substance reasonably satisfactory to the Administrative Agent and the
Lenders) of each of the following: 

  
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 (a) this Agreement duly executed by all relevant parties; 

(b) a loan certificate of the Borrower dated as of the Agreement Date, in substantially the form attached hereto as Exhibit D,
including a certificate of incumbency with respect to each Authorized Signatory of the Borrower, together with the following items: (i) a true, complete and correct copy of the articles of incorporation and
by-laws of the Borrower as in effect on the Agreement Date, (ii) a certificate of good standing for the Borrower issued by the Secretary of State of Delaware, and (iii) a true, complete
and correct copy of the resolutions of the Borrower authorizing it to execute, deliver and perform each of the Loan Documents to which it is a party; 

(c) legal opinions of (i) Goodwin Procter LLP, special counsel to the Borrower and (ii) Edmund DiSanto, Esq., General
Counsel of the Borrower, addressed to each Lender and the Administrative Agent and dated as of the Agreement Date; 
 (d) receipt by the
Borrower of evidence that all Necessary Authorizations, other than Necessary Authorizations the absence of which would not reasonably be expected to have, individually or in the aggregate, a Materially Adverse Effect, including all necessary
consents to the closing of this Agreement, have been obtained or made, are in full force and effect and are not subject to any pending or, to the knowledge of the Borrower, threatened reversal or cancellation; 

(e) each of the representations and warranties in Article 4 hereof are true and correct in all material respects, except for those
representations and warranties that are qualified by materiality or Materially Adverse Effect, which shall be true and correct, as of the Agreement Date, and no Default then exists; 

(f) the documentation that the Administrative Agent and the Lenders are required to obtain from the Borrower under Section 326 of
the USA PATRIOT ACT (P.L. 107-56, 115 Stat. 272 (2001)) and under any other provision of the Patriot Act, the Bank Secrecy Act (P.L. 91-508, 84 Stat. 1118 (1970)) or any
regulations under such Act or the Patriot Act that contain document collection requirements that apply to the Administrative Agent and the Lenders; 

(g) all fees and expenses required to be paid in connection with this Agreement to the Administrative Agent, the Co-Syndication Agents, the Joint Lead Arrangers and the Lenders shall have been (or shall be simultaneously) paid in full; 

(h) audited consolidated financial statements for the three years ended December 31, 2019 of the Borrower and its Subsidiaries;
and 
 (i) a certificate of the president, chief financial officer, treasurer or controller of the Borrower as to the financial performance
of the Borrower and its Subsidiaries, substantially in the form of Exhibit E attached hereto, and, to the extent applicable, using information contained in the financial statements delivered pursuant to clause (h) of this
Section 3.1 in respect of the twelve (12) month period ended December 31, 2019. 
 ARTICLE 4 - REPRESENTATIONS
AND WARRANTIES 

  
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 Section 4.1 Representations and Warranties. The Borrower hereby
represents and warrants in favor of the Administrative Agent and each Lender that: 
 (a) Organization; Ownership; Power;
Qualification. The Borrower is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation. The Borrower has the power and authority to own its properties and to carry on its business
as now being and as proposed hereafter to be conducted. The Subsidiaries of the Borrower and the direct and indirect ownership thereof as of the Agreement Date are as set forth on Schedule 3 attached hereto. As of the Agreement Date and
except as would not reasonably be expected to have a Materially Adverse Effect, each Subsidiary of the Borrower is a corporation, limited liability company, limited partnership or other legal entity duly organized or formed, validly existing and in
good standing under the laws of the jurisdiction of its incorporation or formation and has the power and authority to own its properties and to carry on its business as now being and as proposed hereafter to be conducted. 

(b) Authorization; Enforceability. The Borrower has the corporate power, and has taken all necessary action, to authorize it to borrow
hereunder, to execute, deliver and perform this Agreement and each of the other Loan Documents to which it is a party in accordance with their respective terms, and to consummate the transactions contemplated hereby and thereby. This Agreement has
been duly executed and delivered by the Borrower and is, and each of the other Loan Documents to which the Borrower is party is, a legal, valid and binding obligation of the Borrower and enforceable against the Borrower in accordance with its terms,
subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar laws affecting creditors’ rights and remedies generally and subject, as to enforceability, to general principles of equity. 

(c) Compliance with Other Loan Documents and Contemplated Transactions. The execution, delivery and performance, in accordance with
their respective terms, by the Borrower of this Agreement, the Notes, and each of the other Loan Documents, and the consummation of the transactions contemplated hereby and thereby, do not (i) require any consent or approval,
governmental or otherwise, not already obtained, (ii) violate any Applicable Law respecting the Borrower, (iii) conflict with, result in a breach of, or constitute a default under the articles of incorporation or by-laws, as amended, of the Borrower, or under any indenture, agreement, or other instrument, including without limitation the Licenses, to which the Borrower is a party or by which the Borrower or its respective
properties is bound that is material to the Borrower and its Subsidiaries on a consolidated basis or (iv) result in or require the creation or imposition of any Lien upon or with respect to any property now owned or hereafter acquired by
the Borrower or any of the Material Subsidiaries, except for Liens permitted pursuant to Section 7.2 hereof. 
 (d)
Compliance with Law. The Borrower and its Subsidiaries are in compliance with all Applicable Law, except where the failure to be in compliance therewith would not individually or in the aggregate have a Materially Adverse Effect. 

(e) Title to Assets. As of the Agreement Date, the Borrower and its Subsidiaries have good title to, or a valid leasehold interest in,
all of their respective assets, except for such exceptions as would not reasonably be expected to have, individually or in the 

  
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aggregate, a Materially Adverse Effect. None of the properties or assets of the Borrower or any Material Subsidiary is subject to any Liens, except for Liens permitted pursuant to
Section 7.2 hereof. 
 (f) Litigation. There is no action, suit, proceeding or investigation pending against, or, to the
knowledge of the Borrower, threatened against the Borrower or any of its Subsidiaries or any of their respective properties, including without limitation the Licenses, in any court or before any arbitrator of any kind or before or by any
governmental body (including, without limitation, the FCC) that (i) calls into question the validity of this Agreement or any other Loan Document or (ii) as of the Agreement Date, would reasonably be expected to have a
Materially Adverse Effect, other than as may be disclosed in the public filings of the Borrower with the Securities and Exchange Commission prior to the Agreement Date. 

(g) Taxes. All Federal income, other material Federal and material state and other tax returns of the Borrower and its Material
Subsidiaries required by law to be filed have been duly filed and all Federal income, other material Federal and material state and other taxes, including, without limitation, withholding taxes, assessments and other governmental charges or levies
required to be paid by the Borrower or any of its Subsidiaries or imposed upon the Borrower or any of its Subsidiaries or any of their respective properties, income, profits or assets, which are due and payable, have been paid, except any such taxes
(i) (x) the payment of which the Borrower or any of its Subsidiaries is diligently contesting in good faith by appropriate proceedings, (y) for which adequate reserves in accordance with GAAP have been provided on the books
of such Person, and (z) as to which no Lien other than a Lien permitted pursuant to Section 7.2 hereof has attached, or (ii) which may result from audits not yet conducted, or (iii) as to which the
failure to pay would not reasonably be expected to have a Materially Adverse Effect. 
 (h) Financial Statements. As of the Agreement
Date, the Borrower has furnished or caused to be furnished to the Administrative Agent, the audited financial statements for the Borrower and its Subsidiaries on a consolidated basis for the fiscal year ended December 31, 2019, all of
which have been prepared in accordance with GAAP and present fairly in all material respects the financial position of the Borrower and its Subsidiaries on a consolidated basis, on and as at such date and the results of operations for the period
then ended. As of the Agreement Date, none of the Borrower or its Subsidiaries has any liabilities, contingent or otherwise, that are material to the Borrower and its Subsidiaries on a consolidated basis other than as disclosed in the financial
statements referred to in the preceding sentence or in the reports filed by the Borrower with the Securities and Exchange Commission prior to the Agreement Date or the Obligations. 

(i) No Material Adverse Change. Other than as may be disclosed in the public filings of the Borrower with the Securities and Exchange
Commission prior to the Agreement Date, there has occurred no event since December 31, 2019 which has had or which would reasonably be expected to have a Materially Adverse Effect. 

(j) ERISA. The Borrower and its Subsidiaries and, to the best of their knowledge, their ERISA Affiliates have fulfilled their
respective obligations under the minimum funding standards of ERISA and the Code with respect to each Plan and are in compliance in all 

  
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material respects with the currently applicable provisions of ERISA and the Code except where any failure or non-compliance would not reasonably be
expected to result in a Materially Adverse Effect. 
 (k) Compliance with Regulations U and X. The Borrower does not own or presently
intend to own an amount of “margin stock” as defined in Regulations U and X (12 C.F.R. Parts 221 and 224) of the Board of Governors of the Federal Reserve System (“margin stock”) representing twenty-five percent (25%) or
more of the total assets of the Borrower, as measured on both a consolidated and unconsolidated basis. Neither the making of the Loans nor the use of proceeds thereof will violate, or be inconsistent with, the provisions of any of the
above-mentioned regulations. 
 (l) Investment Company Act. The Borrower is not required to register under the provisions of the
Investment Company Act of 1940, as amended. 
 (m) Solvency. As of the Agreement Date and after giving effect to the transactions
contemplated by the Loan Documents (i) the assets and property of the Borrower and its Subsidiaries on a consolidated basis, at a fair valuation, will exceed the total amount of liabilities, including contingent liabilities of the
Borrower and its Subsidiaries on a consolidated basis; (ii) the capital of the Borrower and its Subsidiaries on a consolidated basis will not be unreasonably small to conduct its business as such business is now conducted and expected to
be conducted following the Agreement Date; (iii) the Borrower and its Subsidiaries on a consolidated basis will not have incurred debts, or have intended to incur debts, beyond their ability to pay such debts as they mature; and
(iv) the present fair salable value of the assets and property of the Borrower and its Subsidiaries on a consolidated basis will be greater than the amount that will be required to pay their probable liabilities (including debts) as they
become absolute and matured. For purposes of this Section, the amount of contingent liabilities at any time will be computed as the amount that, in light of all the facts and circumstances existing as such time, can reasonably be expected to become
an actual or matured liability. 
 (n) Designated Persons; Sanctions Laws and Regulations. Neither the Borrower nor any of its
Subsidiaries nor, to the knowledge of the Borrower, any of their respective directors, officers, brokers or other agents is a Designated Person. The Borrower, its Subsidiaries and their respective officers and employees and to the knowledge of the
Borrower, its directors and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions Laws and Regulations in all material respects. 

(o) Beneficial Ownership Certifications. As of the date so delivered, to the best knowledge of the Borrower, the information included
in the Beneficial Ownership Certification, if any, provided to any Lender in connection with this Agreement is true and correct in all respects. 

Section 4.2 Survival of Representations and Warranties, Etc. All representations and warranties made under this Agreement
and any other Loan Document, shall be deemed to be made, and shall be true and correct in all material respects, except for those representations and warranties that are qualified by materiality or Materially Adverse Effect, which shall be true and
correct, at and as of the Agreement Date. All representations and warranties made under this 

  
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Agreement and the other Loan Documents shall survive, and not be waived by, the execution hereof by the Lenders and the Administrative Agent, any investigation or inquiry by any Lender or the
Administrative Agent, or the making of any Advance under this Agreement. 
 ARTICLE 5 - GENERAL COVENANTS 

So long as any of the Obligations are outstanding and unpaid: 

Section 5.1 Preservation of Existence and Similar Matters. Except as permitted under Section 7.3 hereof or to
the extent required for the Borrower or any of its Subsidiaries to maintain its status as a REIT, the Borrower will, and will cause each of its Subsidiaries to, preserve and maintain its existence, and its material rights, franchises, licenses and
privileges in the jurisdiction of its incorporation or formation, including, without limitation, the Licenses and all other Necessary Authorizations, except where the failure to do so would not reasonably be expected to have a Materially Adverse
Effect. 
 Section 5.2 Compliance with Applicable Law. The Borrower will, and will cause each of its Subsidiaries to
comply in all respects with the requirements of all Applicable Law, except when the failure to comply therewith would not reasonably be expected to have a Materially Adverse Effect. 

Section 5.3 Maintenance of Properties. The Borrower will, and will cause each of its Subsidiaries to, maintain or cause to
be maintained in the ordinary course of business in good repair, working order and condition (reasonable wear and tear excepted) all properties then used or useful in their respective businesses (whether owned or held under lease) that, individually
or in the aggregate, are material to the conduct of the business of the Borrower and its Subsidiaries on a consolidated basis, except where the failure to maintain would not reasonably be expected to have a Materially Adverse Effect. 

Section 5.4 Accounting Methods and Financial Records. The Borrower will, and will cause each of its Subsidiaries on a
consolidated and consolidating basis to, maintain a system of accounting established and administered in accordance with generally accepted accounting principles, keep adequate records and books of account in which complete entries will be made in
accordance with generally accepted accounting principles and reflecting all transactions required to be reflected by generally accepted accounting principles, and keep accurate and complete records of their respective properties and assets. 

Section 5.5 Insurance. The Borrower will, and will cause each Material Subsidiary to, maintain insurance (including
self-insurance) with respect to its properties and business that are material to the conduct of the business of the Borrower and its Subsidiaries on a consolidated basis from responsible companies in such amounts and against such risks as are
customary for companies engaged in the same or similar business, with all premiums thereon to be paid by the Borrower and the Material Subsidiaries. 

Section 5.6 Payment of Taxes and Claims. The Borrower will, and will cause each of its Subsidiaries to, pay and discharge
all Federal income, other material Federal and material state and other material taxes required to be paid by them or imposed upon them or their income or profits or upon any properties belonging to them, prior to the date on which penalties attach

  
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thereto, which, if unpaid, might become a Lien or charge upon any of their properties (other than Liens permitted pursuant to Section 7.2 hereof); provided, however,
that no such tax, assessment, charge, levy or claim need be paid which is being diligently contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP shall have been set aside on the appropriate books
or where the failure to pay would not reasonably be expected to have a Materially Adverse Effect. 
 Section 5.7 Visits and
Inspections. The Borrower will, and will cause each Material Subsidiary to, permit representatives of the Administrative Agent and any of the Lenders, upon reasonable notice, to (a) visit and inspect the properties of the Borrower or
any Material Subsidiary during business hours, (b) inspect and make extracts from and copies of their respective books and records, and (c) discuss with their respective principal officers and accountants (with
representatives of the Borrower participating in such discussions with their accountants) their respective businesses, assets, liabilities, financial positions, results of operations and business prospects, all at such reasonable times and as often
as reasonably requested. 
 Section 5.8 Use of Proceeds. The Borrower will use the proceeds of the Advances to refinance
existing Indebtedness outstanding and for working capital and other general corporate purposes. 
 Section 5.9 Maintenance of
REIT Status. The Borrower will, at all times, conduct its affairs in a manner so as to continue to qualify as a REIT and elect to be treated as a REIT under all Applicable Laws, rules and regulations until such time as the board of directors of
the Borrower deems it in the best interests of the Borrower and its stockholders not to remain qualified as a REIT. 

Section 5.10 Senior Credit Facilities. If the provisions of Articles 7 (Negative Covenants) and/or 8 (Default) (and the
definitions of defined terms used therein) of any of the Existing Credit Agreements are proposed to be amended or otherwise modified in a manner that is more restrictive from the Borrower’s perspective (a “Restrictive Change”),
the Borrower covenants and agrees that it shall (a) provide the Lenders with written notice describing such proposed Restrictive Change promptly and in any event prior to the effectiveness of such Restrictive Change, and
(b) upon fifteen (15) Business Days prior written notice from the Majority Lenders requesting that such Restrictive Change be effected with respect to this Agreement, take such steps as are necessary to effect a Restrictive
Change with respect to this Agreement that is acceptable to the Majority Lenders and the Borrower; provided, that, in the event the Borrower fails to effect such equivalent Restrictive Change within such fifteen (15) Business Day
period, then, such Restrictive Change to such Existing Credit Agreement shall automatically be applied to this Agreement; provided, further that (i) no default or event of default would occur solely by reason of such
amendment to this Agreement or any other debt agreement of the Borrower, and (ii) such Restrictive Change shall not be made if doing so would cause the Borrower to fail to maintain, or prevent it from being able to elect, REIT status.
Notwithstanding the foregoing, any such Restrictive Change made to this Agreement hereunder shall remain in effect until such time as the applicable Existing Credit Agreement has matured or otherwise been terminated, at which point, unless the
Borrower’s Debt Ratings (or their related outlooks) have declined since the date this Agreement was executed, the Administrative Agent, 

  
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Lenders and the Borrower will take such steps as are necessary to amend this Agreement to remove entirely any such amendments made under this Section 5.10 to this Agreement; provided,
however, that in the event that (A) the applicable Existing Credit Agreement has matured or otherwise been terminated, and (B) the Borrower’s Debt Ratings (or their related outlooks) have declined since the date this
Agreement was executed, the Administrative Agent, the Lenders and the Borrower shall negotiate in good faith to modify such Restrictive Change with respect to its application for the remainder of this Agreement. 

ARTICLE 6 - INFORMATION COVENANTS 

So long as any of the Obligations are outstanding and unpaid, the Borrower will furnish or cause to be furnished to the Administrative Agent
(with the Administrative Agent to make the same available to the Lenders) at its office: 
 Section 6.1 Quarterly Financial
Statements and Information. Within forty-five (45) days after the last day of each of the first three (3) quarters of each fiscal year of the Borrower, the consolidated balance sheet of the Borrower and its Subsidiaries
at the end of such quarter and as of the end of the preceding fiscal year, and the related consolidated statement of operations and the related consolidated statement of cash flows of the Borrower and its Subsidiaries for such quarter and for the
elapsed portion of the year ended with the last day of such quarter, which shall set forth in comparative form such figures as at the end of and for such quarter and appropriate prior period and shall be certified by the chief financial officer of
the Borrower to have been prepared in accordance with generally accepted accounting principles and to present fairly in all material respects the consolidated financial position of the Borrower and its Subsidiaries as at the end of such period and
the results of operations for such period, and for the elapsed portion of the year ended with the last day of such period, subject only to normal year-end and audit adjustments; provided, that in the
event of any change in generally accepted accounting principles used in the preparation of such financial statements, the Borrower shall also provide, if necessary for the determination of compliance with Section 7.5 and 7.6, a
statement of reconciliation conforming such financial statements to GAAP; provided, further, that notwithstanding anything to the contrary in this Section 6.1, no financial statements delivered pursuant to this
Section 6.1 shall be required to include footnotes. 
 Section 6.2 Annual Financial Statements and
Information. As soon as available, but in any event not later than the earlier of (a) the date such deliverables are required (if at all) by the Securities and Exchange Commission and (b) one hundred twenty
(120) days after the end of each fiscal year of the Borrower, the audited consolidated balance sheet of the Borrower and its Subsidiaries as of the end of such fiscal year and the related audited consolidated statement of operations for
such fiscal year and for the previous fiscal year, the related audited consolidated statements of cash flow and stockholders’ equity for such fiscal year and for the previous fiscal year, which shall be accompanied by an opinion of
Deloitte & Touche, LLP, or other independent certified public accountants of recognized national standing reasonably acceptable to the Administrative Agent, together with a statement of such accountants (unless the giving of such
statement is contrary to accounting practice for the continuing independence of such accountant) that in connection with their audit, nothing came to their attention that caused them to believe that the Borrower was not in compliance with
Sections 7.5 and 7.6 hereof insofar as they relate to accounting matters; provided that in the event of any change in generally accepted 

  
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accounting principles used in the preparation of such financial statements, the Borrower shall also provide, if necessary for the determination of compliance with Section 7.5 and
7.6, a statement of reconciliation conforming such financial statements to GAAP. 
 Section 6.3 Performance
Certificates. At the time the financial statements are furnished pursuant to Sections 6.1 and 6.2 hereof, a certificate of the president, chief financial officer or treasurer of the Borrower as to the financial performance of the
Borrower and its Subsidiaries on a consolidated basis, in substantially the form attached hereto as Exhibit E: 
 (a) setting forth
as and at the end of such quarterly period or fiscal year, as the case may be, the arithmetical calculations required to establish whether or not the Borrower was in compliance with Sections 7.5 and 7.6 hereof; and 

(b) stating that, to the best of his or her knowledge, no Default has occurred and is continuing as at the end of such quarterly period or
year, as the case may be, or, if a Default has occurred, disclosing each such Default and its nature, when it occurred, whether it is continuing and the steps being taken by the Borrower with respect to such Default. 

Section 6.4 Copies of Other Reports. 

(a) Promptly upon receipt thereof, copies of the management letter prepared in connection with the annual audit referred to in
Section 6.2 hereof. 
 (b) Promptly upon receipt thereof, copies of any adverse notice or report regarding any License that
would reasonably be expected to have a Materially Adverse Effect. 
 (c) From time to time and promptly upon each request, such data,
certificates, reports, statements, documents or further information regarding the business, assets, liabilities, financial position, projections, results of operations or business prospects of the Borrower and its Subsidiaries, as the Administrative
Agent or any Lender may reasonably request. 
 (d) Promptly after the sending thereof, copies of all statements, reports and other
information which the Borrower sends to public security holders of the Borrower generally or publicly files with the Securities and Exchange Commission, but solely in the event that any such statement, report or information has not been made
publicly available by the Securities and Exchange Commission on the EDGAR or similar system or by the Borrower on its internet website. 

Section 6.5 Notice of Litigation and Other Matters. Unless previously disclosed in the public filings of the Borrower with
the Securities and Exchange Commission, notice specifying the nature and status of any of the following events, promptly, but in any event not later than fifteen (15) days after the occurrence of any of the following events becomes known
to the Borrower: 
 (a) the commencement of all proceedings and investigations by or before any governmental body and all actions and
proceedings in any court or before any arbitrator against the Borrower or any of its Subsidiaries or, to the extent known to the Borrower, threatened in 

  
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writing against the Borrower or any of its Subsidiaries, which would reasonably be expected to have a Materially Adverse Effect; 

(b) any material adverse change with respect to the business, assets, liabilities, financial position, results of operations or business
prospects of the Borrower and its Subsidiaries, taken as a whole, other than changes which have not had and would not reasonably be expected to have a Materially Adverse Effect and other than changes in the industry in which the Borrower or any of
its Subsidiaries operates or the economy or business conditions in general; 
 (c) any Default, giving a description thereof and specifying
the action proposed to be taken with respect thereto; and 
 (d) the commencement or threatened commencement of any litigation regarding any
Plan or naming it or the trustee of any such Plan with respect to such Plan or any action taken by the Borrower or any of its Subsidiaries or any ERISA Affiliate of the Borrower to withdraw or partially withdraw from any Plan or to terminate any
Plan, that in each case would reasonably be expected to have a Materially Adverse Effect. 
 Section 6.6 Certain Electronic
Delivery; Public Information. Documents required to be delivered pursuant to this Section 6 (to the extent any such documents are included in materials otherwise filed with the Securities and Exchange Commission) may be delivered
electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto on the Borrower’s website on the Internet at the website address
listed on Schedule 4; or (ii) on which such documents are posted on the Borrower’s behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial,
third-party website or whether sponsored by the Administrative Agent); provided that the Administrative Agent shall receive notice (by telecopier or electronic mail) of the posting of any such documents and shall be provided access (by
electronic mail) to electronic versions (i.e., soft copies) of such documents. 
 The Borrower hereby acknowledges that (a) the
Administrative Agent will make available to the Lenders materials and/or information provided by or on behalf of the Borrower hereunder (collectively, the “Borrower Materials”) by posting the Borrower Materials on IntraLinks or
another similar electronic system (the “Platform”) and (b) certain of the Lenders (each, a “Public Lender”) may have personnel who do not wish to receive material
non-public information with respect to the Borrower or its Affiliates, or the respective securities of any of the foregoing, and who may be engaged in investment and other market-related activities with
respect to such Persons’ securities. The Borrower hereby agrees that (w) all Borrower Materials that are to be made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean
that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking Borrower Materials “PUBLIC,” the Borrower shall be deemed to have authorized the Administrative Agent and the Lenders to treat such
Borrower Materials as not containing any material non-public information with respect to the Borrower or its securities for purposes of United States federal and state securities laws (provided,
however, that to the extent such Borrower Materials constitute confidential information, they shall be treated as set forth in Section 11.18); (y) all Borrower Materials marked “PUBLIC” are

  
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permitted to be made available through a portion of the Platform designated “Public Side Information;” and (z) the Administrative Agent and the Joint Lead Arrangers shall be
entitled to treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not marked as “Public Investor.” Notwithstanding the foregoing, (1) the Borrower shall be
under no obligation to mark any Borrower Materials “PUBLIC” and (2) the following Borrower Materials shall be marked “PUBLIC”, unless the Borrower notifies the Administrative Agent promptly that any such document contains
material non-public information: (1) the Loan Documents and (2) notification of changes in the terms of the Loans. 

Each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times have selected the
“Private Side Information” or similar designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance procedures and applicable
law, including United States federal and state securities laws, to make reference to communications that are not made available through the “Public Side Information” portion of the Platform and that may contain material non-public information with respect to the Borrower or its securities for purposes of United States federal or state securities laws. 

Section 6.7 Know Your Customer Information. Upon a merger or consolidation pursuant to Section 7.3(b), the
Borrower or the surviving corporation into which the Borrower is merged or consolidated shall deliver for the benefit of the Lenders and the Administrative Agent, such other documents as may reasonably be requested in connection with such merger or
consolidation, including, without limitation, information in respect of “know your customer” and similar requirements, an incumbency certificate and an opinion of nationally recognized independent counsel, or other independent counsel
reasonably satisfactory to the Majority Lenders, to the effect that all agreements or instruments effecting the assumption of the Obligations of the Borrower under the Notes, this Agreement and the other Loan Documents pursuant to the terms of
Section 7.3(b) are enforceable in accordance with their terms and comply with the terms hereof. 
 Section 6.8
Additional Requested Information. Promptly upon request, 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 Patriot Act and the Beneficial Ownership Regulation. 
 ARTICLE 7 - NEGATIVE COVENANTS 

So long as any of the Obligations are outstanding and unpaid: 

Section 7.1 Indebtedness; Guaranties of the Borrower and its Subsidiaries. The Borrower shall not, and shall not permit any
of its Subsidiaries to, create, assume, incur or otherwise become or remain obligated in respect of, or permit to be outstanding, any Indebtedness (including, without limitation, any Guaranty) except: 

(a) Indebtedness existing on the date hereof and disclosed in the public filings of the Borrower with the Securities and Exchange Commission
and any refinancing, extensions, renewals and replacements (including through open market purchases and tender offers) of any 

  
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such Indebtedness that do not (i) increase the outstanding principal amount and any existing commitments not utilized thereunder, or accreted value thereof (or, in the case of open
market purchases and tender offers, exceed the current market value thereof) plus any accrued interest thereon, the amount of any premiums and any costs and expenses incurred to effect such refinancing, extension, renewal or replacement,
(ii) result in an earlier maturity date or decrease the weighted average life thereof or (iii) change the direct or any contingent obligor with respect thereto; 

(b) Indebtedness owed to the Borrower or any of its Subsidiaries; 

(c) Indebtedness existing at the time a Subsidiary of the Borrower (not having previously been a Subsidiary) (i) becomes a Subsidiary of
the Borrower or (ii) is merged or consolidated with or into a Subsidiary of the Borrower and any refinancing, extensions, renewals and replacements (including through open market purchases and tender offers) of any such Indebtedness that
do not (x) increase the outstanding principal amount, including any existing commitments not utilized thereunder, or accreted value thereof (or, in the case of open market purchases and tender offers, exceed the current market value
thereof) plus any accrued interest thereon, the amount of any premiums and any costs and expenses incurred to effect such refinancing, extension, renewal or replacement or (y) result in an earlier maturity date or decrease the weighted
average life thereof; provided that such Indebtedness is not created in contemplation of such merger or consolidation; 
 (d)
Indebtedness secured by Permitted Liens; 
 (e) Capitalized Lease Obligations; 

(f) obligations under Hedge Agreements; provided that such Hedge Agreements shall not be speculative in nature; 

(g) Indebtedness of Subsidiaries of the Borrower, so long as (i) no Default exists or would be caused thereby and (ii) the
principal outstanding amount of such Indebtedness at the time of its incurrence does not exceed (when taken together with the principal outstanding amount at such time of Indebtedness incurred under Section 7.1(i) hereof (or portion
thereof) that is guaranteed by any Subsidiary of the Borrower), in the aggregate, the greater of (x) $2,500,000,000 and (y) fifty percent (50%) of Adjusted EBITDA of the Borrower and its Subsidiaries on a consolidated basis as of the
last day of the most recently completed fiscal quarter; 
 (h) Indebtedness under (i) each Existing ABS Facility and
(ii) any additional ABS Facilities entered into by the Borrower or any of its Subsidiaries (including any increase of any Existing ABS Facility) so long as, in each case after giving pro forma effect to such ABS Facility, the Borrower is
in compliance with Sections 7.5 and 7.6 hereof; 
 (i) (i) Indebtedness under the Loan Documents and (ii) other
Indebtedness of the Borrower so long as, in each case after giving pro forma effect to such other Indebtedness, the Borrower is in compliance with Sections 7.5 and 7.6 hereof; 

  
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 (j) Guaranties by the Borrower of any of the foregoing except for the Indebtedness set forth
under Section 7.1(h) hereof; and 
 (k) Guaranties by any Subsidiary of the Borrower of any of the foregoing except for the
Indebtedness set forth under Section 7.1(h) hereof; provided that there shall be no prohibition against Guaranties by any Subsidiaries of the Borrower that (i) are special purposes entities directly involved in any ABS
Facilities and (ii) have no material assets other than the direct or indirect Ownership Interests in special purpose entities directly involved in such ABS Facilities; provided further that the principal outstanding amount of any
Indebtedness set forth in Section 7.1(i) hereof (or portion thereof) that is guaranteed by any Subsidiary of the Borrower shall not exceed (when taken together with the principal outstanding amount at such time of Indebtedness incurred
under Section 7.1(g) hereof), in the aggregate, the greater of (x) $2,500,000,000 and (y) fifty percent (50%) of Adjusted EBITDA of the Borrower and its Subsidiaries on a consolidated basis as of the last day of the most
recently completed fiscal quarter; and 
 (l) In respect of Subsidiaries of the Borrower that are owned by the Borrower and one or more
joint venture partners, Indebtedness of such Subsidiaries owed to such joint venture partners. 
 For purposes of determining compliance
with this Section 7.1, (A) if an item of Indebtedness meets the criteria of more than one of the types of Indebtedness described above, the Borrower, in its sole discretion, shall classify such item of Indebtedness and only
be required to include the amount and type of such Indebtedness in one of such clauses, although the Borrower may divide and classify an item of Indebtedness in one or more of the types of Indebtedness and may later
re-divide or reclassify all or a portion of such item of Indebtedness in any manner that complies with this Section 7.1 and (B) the amount of Indebtedness issued at a price that
is less than the principal amount thereof shall be equal to the amount of the liability in respect thereof determined in conformity with GAAP. 

Section 7.2 Limitation on Liens. The Borrower shall not, and shall not permit any of its Subsidiaries to, create, assume, incur or
permit to exist or to be created, assumed, incurred or permitted to exist, directly or indirectly, any Lien on any of its properties or assets, whether now owned or hereafter acquired, except for (i) Liens securing the Obligations (if any),
(ii) Permitted Liens, and (iii) Liens securing Indebtedness permitted under Section 7.1(a) (but only if and to the extent such Indebtedness (or the Indebtedness which was refinanced, extended, renewed or replaced) is secured
as of the date hereof), Section 7.1(c) (but only if and to the extent such Indebtedness (or the Indebtedness which was refinanced, extended, renewed or replaced) is secured as of the date the Subsidiary that incurred such Indebtedness
became a Subsidiary of the Borrower), Section 7.1(g), Section 7.1(h) or Section 7.1(k). 

Section 7.3 Liquidation, Merger or Disposition of Assets. 

(a) Disposition of Assets. The Borrower shall not, and shall not permit any of its Subsidiaries to, at any time sell, lease, abandon,
or otherwise dispose of any assets (other than assets disposed of in the ordinary course of business), except for (i) the transfer of assets among the Borrower and its Subsidiaries (excluding Subsidiaries of such Persons described in
clause (b) 

  
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of the definition of “Subsidiary” if the requirements of clause (a) thereof are not otherwise met) or the transfer of assets between or among the Borrower’s
Subsidiaries (excluding Subsidiaries of such Persons described in clause (b) of the definition of “Subsidiary” if the requirements of clause (a) thereof are not otherwise met), (ii) the transfer of assets by
the Borrower or any of its Subsidiaries to Unrestricted Subsidiaries representing an amount not to exceed, in any given fiscal year, fifteen percent (15%) of Adjusted EBITDA of the Borrower and its Subsidiaries on a consolidated basis as of the last
day of the immediately preceding fiscal year, but in aggregate for the period commencing on the Agreement Date and ending of the date of such transfer, not more than twenty-five percent (25%) of Adjusted EBITDA of the Borrower and its Subsidiaries
on a consolidated basis as of the last day of the fiscal year immediately preceding the date of such transfer, or (iii) the disposition of assets for fair market value so long as no Default exists or will be caused to occur as a result
of such disposition; provided that, in respect of this clause (iii), the fair market value of all such assets disposed of by the Borrower and its Subsidiaries during any fiscal year shall not exceed fifteen percent (15%) of Consolidated Total
Assets as of the last day of the immediately preceding fiscal year. For the avoidance of doubt, cash and cash equivalents shall not be considered assets subject to the provisions of this Section 7.3(a). 

(b) Liquidation or Merger. The Borrower shall not, at any time, liquidate or dissolve itself (or suffer any liquidation or dissolution)
or otherwise wind up, or enter into any merger or consolidation, other than (i) a merger or consolidation among the Borrower and one or more of its Subsidiaries; provided, however, that the Borrower is the surviving Person,
(ii) in connection with an Acquisition permitted hereunder effected by a merger in which the Borrower is the surviving Person, or (iii) a merger or consolidation (including, without limitation, in connection with an
Acquisition permitted hereunder) among the Borrower, on the one hand, and any other Person (including, without limitation, an Affiliate), on the other hand, where the surviving Person (if other than the Borrower) (A) is a corporation,
partnership, or limited liability company organized and existing under the laws of the United States of America, any State thereof or the District of Columbia and (B) on the effective date of such merger or consolidation expressly
assumes, by supplemental agreement, executed and delivered to the Administrative Agent, for itself and on behalf of the Lenders, in form and substance reasonably satisfactory to the Majority Lenders, all the Obligations of the Borrower under the
Notes, this Agreement and the other Loan Documents; provided, however, that, in each case, no Default exists or would be caused thereby. 

Section 7.4 Restricted Payments. The Borrower shall not, and shall not permit any of its Subsidiaries to, make any Restricted
Payments; provided, however that the Borrower and its Subsidiaries may make any Restricted Payments so long as no Default exists or would be caused thereby, and, provided, further that, (a) for so long as the
Borrower is a REIT, during the continuation of a Default, the Borrower and its Subsidiaries may make any Restricted Payments provided they do not exceed in the aggregate for any four consecutive fiscal quarters of the Borrower occurring from and
after September 30, 2013, (i) 95% of Funds From Operations for such four fiscal quarter period, or (ii) such greater amount as may be required to comply with Section 5.9 or to avoid the imposition of income or
excise taxes on the Borrower, and (b) the Borrower may make any Restricted Payment required to comply with Section 5.9, including, for the avoidance of doubt, any Restricted Payment necessary to satisfy the requirements of
section 857(a)(2)(B) of the Code, or any successor provision, or to avoid the imposition of any income or excise taxes. 

  
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 Section 7.5 Senior Secured Leverage Ratio. As of the end of each fiscal quarter,
the Borrower shall not permit the ratio of (i) Senior Secured Debt on such calculation date to (ii) Adjusted EBITDA, as of the last day of such fiscal quarter, to be greater than 3.00 to 1.00. 

Section 7.6 Total Borrower Leverage Ratio. 

As of the end of each fiscal quarter, the Borrower shall not permit the ratio of (a) Total Debt on such calculation date to
(b) Adjusted EBITDA, as of the last day of such fiscal quarter to be greater than 6.00 to 1.00; provided that in lieu of the foregoing, for any such date occurring after a Qualified Acquisition (as defined below) and on or prior to the last day
of the fourth full fiscal quarter of the Borrower after the consummation of such Qualified Acquisition, the Borrower will not permit such ratio as of such date to exceed 7.00 to 1.00. 

“Qualified Acquisition” means an Acquisition by the Borrower or any Subsidiary which has been designated to the Lenders by an
authorized officer of the Borrower as a “Qualified Acquisition” so long as, on a pro forma basis after giving effect to such Acquisition, the ratio of Total Debt to Adjusted EBITDA as of the last day of the most recently ended fiscal
quarter of the Borrower (for which financial statements have been delivered pursuant to Section 6.1 or 6.2) prior to such acquisition would be no less than 5.00 to 1.00; provided that (i) no such designation may
be made with respect to any Acquisition prior to the end of the fourth full fiscal quarter following the completion of the most recently consummated Qualified Acquisition unless the ratio of Total Debt to Adjusted EBITDA as of the last day of the
most recently ended fiscal quarter of the Borrower (for which financial statements have been delivered pursuant to Section 6.1 or 6.2) prior to the consummation of such Acquisition was no greater than 5.50 to 1.00,
(ii) the aggregate consideration for such Acquisition (including the aggregate principal amount of any Indebtedness assumed thereby) is equal to or greater than $850,000,000 and (iii) the Borrower may designate no more than three (3) such
Acquisitions as a “Qualified Acquisition” during the term of this Agreement. 
 Section 7.7 [Reserved]. 

Section 7.8 Affiliate Transactions. Except (i) as specifically provided herein (including, without limitation, Sections
7.1, 7.3 and 7.4 hereof), (ii) investments of cash and cash equivalents in Unrestricted Subsidiaries, and (iii) as may be disclosed in the public filings of the Borrower with the Securities and Exchange Commission prior
to the Agreement Date, the Borrower shall not, and shall not permit any of its Subsidiaries to, at any time engage in any transaction with an Affiliate, other than between or among the Borrower and/or any Subsidiaries of the Borrower or in the
ordinary course of business, or make an assignment or other transfer of any of its properties or assets to any Affiliate, in each case on terms less advantageous in any material respect to the Borrower or such Subsidiary than would be the case if
such transaction had been effected with a non-Affiliate. 
 Section 7.9 Restrictive Agreements. The Borrower shall not, nor
shall the Borrower permit any of its Material 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 the ability of any Material
Subsidiary of the Borrower 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 

  
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Borrower or any other Material Subsidiary of the Borrower; provided that (i) the foregoing shall not apply to restrictions and conditions imposed by Applicable Law or by
any Loan Document, (ii) the foregoing shall not apply to restrictions and conditions contained in agreements relating to the sale of a Material Subsidiary of the Borrower pending such sale; provided that such restrictions
and conditions apply only to the Material Subsidiary that is to be sold and such sale is permitted hereunder, (iii) the foregoing shall not apply to restrictions and conditions contained in any instrument governing Indebtedness or Ownership
Interests of a Person acquired by the Borrower or any of its Material Subsidiaries as in effect at the time of such acquisition (except to the extent such Indebtedness was incurred, or such Ownership Interests were issued, in connection with or in
contemplation of such acquisition), which encumbrance or restriction is not applicable to any Person, or the properties or assets of any Person, other than the Person or the property or assets of the Person so acquired, and any amendments,
modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of those instruments; provided that the encumbrances or restrictions contained in any such amendments, modifications, restatements,
renewals, increases, supplements, refundings, replacements or refinancings, taken as whole, are not materially more restrictive than the encumbrances or restrictions contained in instruments as in effect on the date of acquisition, (iv) the
foregoing shall not apply to restrictions and conditions on cash or other deposits or net worth imposed by customers or lessors under contracts or leases entered into in the ordinary course of business, (v) the foregoing shall not apply to
restrictions and conditions imposed on the transfer of copyrighted or patented materials or other intellectual property and customary provisions in agreements that restrict the assignment of such agreements or any rights thereunder, (vi) the
foregoing shall not apply to restrictions and conditions imposed by contracts or leases entered into in the ordinary course of business by the Borrower or any of its Material Subsidiaries with such Person’s customers, lessors or suppliers and
(vii) the foregoing shall not apply to restrictions and conditions imposed upon the “borrower”, “issuer”, “guarantor”, “pledgor” or “lender” entities under ABS Facilities permitted under
Section 7.1(h) hereof or which arise in connection with any payment default regarding Indebtedness otherwise permitted under Section 7.1 hereof. 

Section 7.10 Use of Proceeds. The Borrower shall not, nor shall the Borrower permit any of its Subsidiaries to, use the proceeds
of any Loan directly, or to the Borrower’s knowledge indirectly, to fund any operations in, finance any investments or activities in, or make any payments to a Designated Person or a Sanctioned Country, in violation of Anti-Corruption Laws or
in any manner that would result in the violation of any Sanctions Laws and Regulations applicable to any party hereto. 
 ARTICLE 8 -
DEFAULT 
 Section 8.1 Events of Default. Each of the following shall constitute an Event of Default, whatever the reason
for such event and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment or order of any court or any order, rule or regulation of any governmental or
non-governmental body: 
 (a) any representation or warranty made under this Agreement shall prove
to be incorrect in any material respect when made or deemed to be made pursuant to Section 4.2 hereof; 

  
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 (b) the Borrower shall default in the payment of (i) any interest hereunder or under
any of the Notes or fees or other amounts payable to the Lenders and the Administrative Agent under any of the Loan Documents, or any of them, when due, and such Default shall not be cured by payment in full within five (5) Business Days from
the due date or (ii) any principal hereunder or under any of the Notes when due; 
 (c) the Borrower or any Material Subsidiary, as
applicable, shall default in the performance or observance of any agreement or covenant contained in Sections 5.1 (as to the existence of the Borrower), 5.8, 5.10, 7.1, 7.2, 7.3, 7.4, 7.5,
7.6 and 7.9 hereof; 
 (d) the Borrower or any of its Subsidiaries, as applicable, shall default in the performance or
observance of any other agreement or covenant contained in this Agreement not specifically referred to elsewhere in this Section 8.1, and such default shall not be cured within a period of thirty (30) days (or with respect to
Sections 5.3, 5.4, 5.5, 5.6, 6.4, 6.5 and 7.8 hereof, such longer period not to exceed sixty (60) days if such default is curable within such period and the Borrower is proceeding in good faith
with all diligent efforts to cure such default) from the later of (i) occurrence of such Default and (ii) the date on which such Default became known to the Borrower; 

(e) there shall occur any default in the performance or observance of any agreement or covenant or breach of any representation or warranty
contained in any of the Loan Documents (other than this Agreement or as otherwise provided in this Section 8.1) by the Borrower, which shall not be cured within a period of thirty (30) days (or such longer period not to exceed sixty
(60) days if such default is curable within such period and the Borrower is proceeding in good faith with all diligent efforts to cure such default) from the date on which such default became known to the Borrower; 

(f) there shall be entered and remain unstayed a decree or order for relief in respect of the Borrower or any Material Subsidiary Group under
Title 11 of the United States Code, as now constituted or hereafter amended, or any other applicable Federal or state bankruptcy law or other similar law, or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or similar
official of the Borrower or any Material Subsidiary Group, or of any substantial part of their respective properties, or ordering the winding-up or liquidation of the affairs of the Borrower or any Material
Subsidiary Group; or an involuntary petition shall be filed against the Borrower or any Material Subsidiary Group, and (i) such petition shall not be diligently contested, or (ii) any such petition shall continue undismissed or unstayed
for a period of ninety (90) consecutive days; 
 (g) the Borrower or any Material Subsidiary Group shall file a petition, answer or
consent seeking relief under Title 11 of the United States Code, as now constituted or hereafter amended, or any other applicable Federal or state bankruptcy law or other similar law, or the Borrower or any Material Subsidiary Group shall consent to
the institution of proceedings thereunder or to the filing of any such petition or to the appointment or taking of possession of a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Borrower or any
Material Subsidiary Group or of any substantial part of their respective properties, or the Borrower or any Material Subsidiary Group shall fail generally to pay their 

  
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respective debts as they become due or shall be adjudicated insolvent; or the Borrower or any Material Subsidiary Group shall take any action in furtherance of any such action; 

(h) a judgment not covered by insurance or indemnification, where the indemnifying party has agreed to indemnify and is financially able to do
so, shall be entered by any court against the Borrower or any Material Subsidiary Group for the payment of money which exceeds singly, or in the aggregate with other such judgments, $400,000,000, or a warrant of attachment or execution or similar
process shall be issued or levied against property of the Borrower or any Material Subsidiary Group which, together with all other such property of the Borrower or any Material Subsidiary Group subject to other such process, exceeds in value
$400,000,000 in the aggregate, and if, within thirty (30) days after the entry, issue or levy thereof, such judgment, warrant or process shall not have been paid or discharged or stayed pending appeal or removed to bond, or if, after the
expiration of any such stay, such judgment, warrant or process, shall not have been paid or discharged or removed to bond; 
 (i) except to
the extent that would not reasonably be expected to have a Materially Adverse Effect collectively or individually, (i) there shall be at any time any “accumulated funding deficiency,” as defined in ERISA or in Section 412 of the
Code, with respect to any Plan maintained by the Borrower, any of its Subsidiaries or any ERISA Affiliate, or to which the Borrower, any of its Subsidiaries or any ERISA Affiliate has any liabilities, or any trust created thereunder; (ii) a
trustee shall be appointed by a United States District Court to administer any such Plan; (iii) PBGC shall institute proceedings to terminate any such Plan; (iv) the Borrower, any of its Subsidiaries or any ERISA Affiliate shall incur any
liability to PBGC in connection with the termination of any such Plan; or (v) any Plan or trust created under any Plan of the Borrower, any of its Subsidiaries or any ERISA Affiliate shall engage in a “prohibited transaction” (as such
term is defined in Section 406 of ERISA or Section 4975 of the Code) which would subject any such Plan, any trust created thereunder, any trustee or administrator thereof, or any party dealing with any such Plan or trust to material tax or
penalty on “prohibited transactions” imposed by Section 502 of ERISA or Section 4975 of the Code; 
 (j) there shall
occur (i) any acceleration of the maturity of any Indebtedness of the Borrower or any Material Subsidiary in an aggregate principal amount exceeding $400,000,000, or, as a result of a failure to comply with the terms thereof, such Indebtedness
shall otherwise have become due and payable prior to its scheduled maturity; or (ii) any failure to make any payment when due (after any applicable grace period) with respect to any Indebtedness of the Borrower or any Material Subsidiary (other
than the Obligations) in an aggregate principal amount exceeding $400,000,000; 
 (k) any material Loan Document or any material provision
thereof, shall at any time and for any reason be declared by a court of competent jurisdiction to be null and void, or a proceeding shall be commenced by the Borrower seeking to establish the invalidity or unenforceability thereof (exclusive of
questions of interpretation of any provision thereof), or the Borrower shall deny that it has any liability or obligation for the payment of principal or interest purported to be created under any Loan Document (other than in accordance with its
terms); or 
 (l) there shall occur any Change of Control. 

  
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 Section 8.2 Remedies. 

(a) If an Event of Default specified in Section 8.1 (other than an Event of Default under Section 8.1(f)
or (g) hereof) shall have occurred and shall be continuing, the Administrative Agent, at the request of the Majority Lenders but subject to Section 9.3 hereof, shall declare the principal of and interest on the Loans
and the Notes, if any, and all other amounts owed to the Lenders and the Administrative Agent under this Agreement, the Notes and any other Loan Documents to be forthwith due and payable without presentment, demand, protest or other notice of any
kind, all of which are hereby expressly waived, anything in this Agreement, the Notes or any other Loan Document to the contrary notwithstanding. 

(b) Upon the occurrence and continuance of an Event of Default specified in Section 8.1(f) or (g) hereof, all
principal, interest and other amounts due hereunder and under the Notes, and all other Obligations, shall thereupon and concurrently therewith become due and payable and the principal amount of the Loans outstanding hereunder shall bear interest at
the Default Rate, all without any action by the Administrative Agent, the Lenders, the Majority Lenders or any of them, and without presentment, demand, protest or other notice of any kind, all of which are expressly waived, anything in this
Agreement or in the other Loan Documents to the contrary notwithstanding. 
 (c) Upon acceleration of the Loans, as provided in
Section 8.2(a) or (b) hereof, the Administrative Agent and the Lenders shall have all of the post-default rights granted to them, or any of them, as applicable under the Loan Documents and under Applicable Law. 

(d) The rights and remedies of the Administrative Agent and the Lenders hereunder shall be cumulative, and not exclusive. 

Section 8.3 Payments Subsequent to Declaration of Event of Default. Subsequent to the acceleration of the Loans under
Section 8.2 hereof, payments and prepayments under this Agreement made to the Administrative Agent and the Lenders or otherwise received by any of such Persons shall be paid over to the Administrative Agent (if necessary) and distributed
by the Administrative Agent as follows: first, to the Administrative Agent’s and the Lenders’ reasonable costs and expenses, if any, incurred in connection with the collection of such payment or prepayment, including,
without limitation, all amounts under Section 11.2(b) hereof; second, to the Administrative Agent for any fees hereunder or under any of the other Loan Documents then due and payable;
third, to the Lenders pro rata on the basis of their respective unpaid principal amounts (except as provided in Section 2.2(e) hereof), for the payment of any unpaid interest which may have accrued on
the Obligations and any fees hereunder or under any of the other Loan Documents then due and payable; fourth, to the Lenders pro rata until all Loans have been paid in full, for the payment of the Loans;
fifth, to the Lenders pro rata on the basis of their respective unpaid amounts, for the payment of any other unpaid Obligations; and sixth, to the Borrower or as otherwise required by Applicable Law. 

ARTICLE 9 - THE ADMINISTRATIVE AGENT 

Section 9.1 Appointment and Authorization. Each of the Lenders hereby irrevocably appoints Toronto Dominion (Texas) LLC to act on
its behalf as the Administrative Agent 

  
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hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by
the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. The provisions of this Article are solely for the benefit of the Administrative Agent and the Lenders, and the Borrower shall not
have rights as a third party beneficiary of any of such provisions. 
 Section 9.2 Rights as a Lender. The Person serving
as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender” or
“Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits
from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent
hereunder and without any duty to account therefor to the Lenders. 
 Section 9.3 Exculpatory Provisions. The Administrative
Agent shall not have any duties or obligations except those expressly set forth herein and in the other Loan Documents. Without limiting the generality of the foregoing, the Administrative Agent: 

(a) shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing; 

(b) shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers
expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Majority Lenders (or such other number or percentage of the Lenders as shall be expressly provided for
herein or in the other Loan Documents), provided that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that
is contrary to any Loan Document or Applicable Law; and 
 (c) shall not, except as expressly set forth herein and in the other Loan
Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any
of its Affiliates in any capacity. 
 The Administrative Agent shall not be liable for any action taken or not taken by it (i) with the
consent or at the request of the Majority Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in
Sections 11.11 and 8.2) or (ii) in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until notice describing such Default is
given to the Administrative Agent in writing by the Borrower or a Lender. 

  
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 The Administrative Agent shall not be responsible for or have any duty to ascertain or
inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in
connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability,
effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document or (v) the satisfaction of any condition set forth in Article 3 or elsewhere herein, other than to confirm receipt of
items expressly required to be delivered to the Administrative Agent. 
 Section 9.4 Reliance by Administrative Agent. 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 (including any electronic message, Internet or
intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone
and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan that by its terms must be fulfilled to the satisfaction
of a Lender, the Administrative Agent may presume that such condition is satisfactory to such Lender unless the Administrative Agent shall have received notice to the contrary from such Lender prior to the making of such Loan. 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. 
 Section 9.5 Resignation of Administrative Agent. (a) The Administrative Agent may at any time
give notice of its resignation to the Lenders and the Borrower. Upon receipt of any such notice of resignation, the Majority Lenders shall have the right to appoint a successor, which shall (i) be a bank with (A) an office in the United
States, or an Affiliate of a bank with an office in the United States, and (B) combined capital and reserves in excess of $250,000,000 (clauses (A) and (B) together, the “Agent Qualifications”) and
(ii) so long as no Event of Default is continuing, be reasonably acceptable to Borrower. If no such successor shall have been so appointed by the Majority Lenders and shall have accepted such appointment within 30 days after the retiring
Administrative Agent gives notice of its resignation (the “Resignation Effective Date”), then the retiring Administrative Agent may (but shall not be obligated to), on behalf of the Lenders and in consultation with the
Borrower, appoint a successor Administrative Agent meeting the Agent Qualifications. Whether or not a successor has been appointed, such resignation shall become effective in accordance with such notice on the Resignation Effective Date. 

(a) If the Person serving as Administrative Agent has, (i) become the subject of a voluntary proceeding under any bankruptcy or other
debtor relief law, (ii) had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or a custodian appointed for it, or (iii) taken
any action in furtherance of, or indicated its consent to, approval of or acquiescence in any voluntary 

  
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or involuntary proceeding under any bankruptcy or other debtor relief law or any such appointment, the Majority Lenders may, to the extent permitted by Applicable Law, by notice in writing to the
Borrower and such Person remove such Person as Administrative Agent and appoint a successor Administrative Agent meeting the Agent Qualifications and which, so long as no Event of Default is continuing, is reasonably acceptable to Borrower. If no
such successor shall have been so appointed by the Majority Lenders and shall have accepted such appointment within thirty (30) days (or such earlier day as shall be agreed by the Majority Lenders) (the “Removal Effective
Date”), then such removal shall nonetheless become effective in accordance with such notice on the Removal Effective Date. 

(b) With effect from, as applicable, the Resignation Effective Date or the Removal Effective Date (1) the retiring Administrative Agent
shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by the Administrative Agent on behalf of the Lenders under any of the Loan Documents, the
retiring Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed) and (2) all payments, communications and determinations provided to be made by, to or through the
Administrative Agent shall instead be made by or to each Lender directly, until such time as the Majority Lenders appoint a successor Administrative Agent as provided for above in this Section. Upon the acceptance of a successor’s appointment
as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Administrative Agent, and the retiring Administrative Agent shall be discharged
from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section). The fees payable by the Borrower to a successor Administrative Agent shall be the same as
those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring Administrative Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article and
Sections 11.2 and 11.5 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 the retiring Administrative Agent was acting as Administrative Agent. 
 Section 9.6
Non-Reliance on Administrative Agent and Other Lenders. Each Lender acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related
Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the
Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based
upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder. 
 Section 9.7
Indemnification. The Lenders severally, and not jointly, agree to indemnify the Administrative Agent (to the extent not reimbursed by the Borrower but without affecting the Borrower’s obligations with respect thereto) pro rata, from and
against any and all liabilities, obligations, losses (other than the loss of principal, interest and fees hereunder in the event of a bankruptcy or out-of-court ‘work-out’ of the Loans), damages, penalties, actions, 

  
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judgments, suits, or reasonable out-of-pocket costs, expenses (including, without limitation, fees and
disbursements of experts, agents, consultants and counsel), or disbursements of any kind or nature whatsoever which may be imposed on, incurred by or asserted against the Administrative Agent in any way relating to or arising out of this Agreement,
any other Loan Document, or any other document contemplated by this Agreement or any other Loan Document or any action taken or omitted by the Administrative Agent under this Agreement, any other Loan Document, or any other document contemplated by
this Agreement, except that no Lender shall be liable to the Administrative Agent for any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, or reasonable out-of-pocket costs, expenses or disbursements resulting from the gross negligence or willful misconduct of the Administrative Agent as determined by a final,
non-appealable judicial order of a court having jurisdiction over the subject matter. 

Section 9.8 No Responsibilities of the Agents. Notwithstanding any provision to the contrary contained elsewhere herein or in any
other Loan Document, the Co-Syndication Agents, the Joint Lead Arrangers and the Joint Bookrunners (as set forth on the cover page hereof) shall not have any duties or responsibilities, nor shall the Co-Syndication Agents, the Joint Lead Arrangers or Joint Bookrunners have or be deemed to have any fiduciary relationship with any Lender or participant, and no implied covenants, functions, responsibilities,
duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against the Co-Syndication Agents, the Joint Lead Arrangers or Joint Bookrunners. 

Section 9.9 Lender ERISA Matters. Each Lender represents and warrants as of the date hereof to the Administrative Agent and each
Joint Lead Arranger and their respective Affiliates, and not, for the avoidance of doubt, for the benefit of the Borrower, that such Lender is not and will not be (i) an employee benefit plan subject to Title I of ERISA, (ii) a plan or
account subject to Section 4975 of the Internal Revenue Code; (iii) an entity deemed to hold “plan assets” of any such plans or accounts for purposes of ERISA or the Internal Revenue Code that is using “plan assets” of
any such plans or accounts to fund or hold Loans or perform its obligations under this Agreement; or (iv) a “governmental plan” within the meaning of ERISA. 

ARTICLE 10 - CHANGES IN CIRCUMSTANCES 

AFFECTING LIBOR ADVANCES AND INCREASED COSTS 

Section 10.1 LIBOR Basis Determination Inadequate or Unfair. 

(1) If with respect to any proposed LIBOR Advance for any Interest Period, (a) the Majority Lenders notify the
Administrative Agent that the Eurodollar Rate for any Interest Period for such Advance will not adequately reflect the cost to such Lenders of making, funding or maintaining their LIBOR Advances for such Interest Period, or (b) the
Administrative Agent determines after consultation with the Lenders that adequate and fair means do not exist for determining the LIBOR Basis, the Administrative Agent shall forthwith give notice thereof to the Borrower and the Lenders, whereupon
until the Administrative Agent notifies the Borrower that the circumstances giving rise to such situation no longer exist, the obligations of any affected Lender to make its portion of such LIBOR Advances shall be suspended and each affected Lender
shall make its portion of such LIBOR Advance as a Base Rate Advance. 

  
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 (2) If at any time the Administrative Agent determines (which determination
shall be conclusive absent manifest error) that (i) the circumstances set forth in clause (1)(b) have arisen and such circumstances are unlikely to be temporary or (ii) the circumstances set forth in clause (1)(b) have not
arisen but either (w) the supervisor for the administrator of LIBOR has made a public statement that the administrator of LIBOR is insolvent (and there is no successor administrator that will continue publication of LIBOR), (x) the
administrator of LIBOR has made a public statement identifying a specific date after which LIBOR will permanently or indefinitely cease to be published by it (and there is no successor administrator that will continue publication of LIBOR), (y) the
supervisor for the administrator of LIBOR has made a public statement identifying a specific date after which LIBOR will permanently or indefinitely cease to be published or (z) the supervisor for the administrator of LIBOR or a
governmental authority having jurisdiction over the Administrative Agent has made a public statement identifying a specific date after which LIBOR may no longer be used for determining interest rates for loans, then the Administrative Agent and the
Borrower shall endeavor to establish an alternate rate of interest to LIBOR that gives due consideration to the then prevailing market convention for determining a rate of interest for syndicated loans in the United States at such time, and shall
enter into an amendment to this Agreement to reflect such alternate rate of interest and such other related changes to this Agreement as may be applicable; provided that, if such alternate rate of interest as so determined would be less than
zero, such rate shall be deemed to be zero for the purposes of this Agreement. Notwithstanding anything to the contrary in Section 11.11, such amendment shall become effective without any further action or consent of any other party to
this Agreement so long as the Administrative Agent shall not have received, within five Business Days of the date such amendment is provided to the Lenders, a written notice from the Majority Lenders stating that such Majority Lenders object to such
amendment. Until an alternate rate of interest shall be determined in accordance with this clause (2) (but, in the case of the circumstances described in clause (ii)(w), clause (ii)(x) or clause (ii)(y) of the first sentence of this
Section 10.1(2), only to the extent LIBOR for such Interest Period is not available or published at such time on a current basis), (x) any Request for Advance requesting a Conversion of any Base Rate Advance to, or
continuation of any Base Rate Advance as, a LIBOR Advance shall be ineffective and (y) if any Request for Advance requests a LIBOR Advance, such Advance shall be made as an Base Rate Advance. 

Section 10.2 Illegality. If, after the date hereof, the adoption of any Applicable Law, or any change in any Applicable Law
(whether adopted before or after the Agreement Date), or any change in interpretation or administration thereof by any governmental authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance
by any Lender with any directive (whether or not having the force of law) of any such authority, central bank or comparable agency, shall make it unlawful or impossible for any Lender to make, maintain or fund its portion of such LIBOR Advances,
such Lender shall so notify the Administrative Agent, and the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower. Before giving any notice to the Administrative Agent pursuant to this
Section 10.2, such Lender shall designate a different lending office if such designation will avoid the need for giving such notice and will not, in the sole reasonable judgment of such Lender, be otherwise materially disadvantageous to
such Lender. Upon receipt of such notice, 

  
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notwithstanding anything contained in Article 2 hereof, the Borrower shall Convert such LIBOR Advance to a Base Rate Advance on either (a) the last day of the then current Interest
Period applicable to such affected LIBOR Advance if such Lender may lawfully continue to maintain and fund its portion of such LIBOR Advance to such day or (b) immediately if such Lender may not lawfully continue to fund and maintain its
portion of such affected LIBOR Advance to such day. 
 Section 10.3 Increased Costs and Additional Amounts. 

(a) If after the date hereof, the adoption of any Applicable Law, or any change in any Applicable Law (whether adopted before or after the
Agreement Date), or any interpretation or change in interpretation or administration thereof by any governmental authority, central bank or comparable agency charged with the interpretation or administration thereof or compliance by any Lender with
any directive issued after the Agreement Date (whether or not having the force of law) of any such authority, central bank or comparable agency: 

(i) shall subject any Lender to any Tax with respect to its obligation to make its portion of LIBOR Advances, or its portion of
other Advances, or shall change the basis of taxation of payments to any Lender of the principal of or interest on its portion of LIBOR Advances or in respect of any other amounts due under this Agreement, or its obligation to make its portion of
Advances (except for changes with respect to Taxes imposed on the revenues or net income of such Lender, and except for any Taxes referred to in Section 10.3(b) hereof); or 

(ii) shall impose, modify or deem applicable any reserve (including, without limitation, any imposed by the Board of Governors
of the Federal Reserve System, but excluding any included in an applicable Eurodollar Reserve Percentage), special deposit, capital adequacy or liquidity, assessment or other requirement or condition against assets of, deposits with or for the
account of, or commitments or credit extended by, any Lender or shall impose on any Lender or the London interbank borrowing market any other condition affecting its obligation to make its portion of such LIBOR Advances or its portion of existing
Advances; 
 and the result of any of the foregoing is to increase the cost to such Lender of making or maintaining any of its portion of such LIBOR
Advances, or to reduce the amount of any sum received or receivable by such Lender under this Agreement or under its Note, if any, with respect thereto, then, within ten (10) days after demand by such Lender, the Borrower agrees to pay to such
Lender such additional amount or amounts as will compensate such Lender on an after-tax basis for such increased costs; provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank
Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International
Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be enacted, adopted or issued
after the date hereof, regardless of the date enacted, adopted or issued. 

  
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 (b) Except as required by Applicable Law, all payments made by the Borrower under this
Agreement shall be made free and clear of, and without deduction or withholding for or on account of, any present or future income or other similar taxes, levies, imposts, duties, charges, fees, deductions or withholdings (“Taxes”),
now or hereafter imposed, levied, collected, withheld or assessed by any governmental authority, excluding any Taxes imposed on a Lender by reason of any connection between the Lender and the taxing jurisdiction other than a connection that is
solely attributable to executing, delivering, performing or enforcing this Agreement and receiving payments hereunder. If any such non-excluded Taxes (collectively, the
“Non-Excluded Taxes”) are required to be withheld or deducted from any such payment, the Borrower shall pay such additional amounts as may be necessary to ensure that the net amount actually
received by a Lender after such withholding or deduction is equal to the amount that the Lender would have received had no such withholding or deduction been required; provided, however, that the Borrower shall not be required to
increase any such amounts payable to any Lender if such Lender fails to comply with the requirements of Section 2.12 hereof, provided, further, that the Borrower shall not be required to pay any additional amounts in
respect of Taxes imposed under FATCA, provided, further, that the Borrower shall not be required to pay any U.S. withholding Taxes imposed on amounts payable to or for the account of any Lender with respect to an applicable
interest in a Loan or Commitment pursuant to a law in effect on the date on which (i) such Lender acquires such interest in the Loan or Commitment or (ii) such Lender changes its lending office, except, in each case, to the
extent that, pursuant to this Section 10.3, 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. Whenever any Non-Excluded Taxes are payable by the Borrower, as promptly as possible thereafter the Borrower shall send to the Administrative Agent for its own account or for the account of
such Lender, as the case may be, a certified copy of an original official receipt received by the Borrower showing payment thereof. If the Borrower fails to pay any Non-Excluded Taxes when due to the
appropriate taxing authority or fail to remit to the Administrative Agent the required receipts or other documentary evidence, the Borrower shall indemnify the Administrative Agent and the Lenders for any incremental taxes, interest or penalties
that may become payable by the Administrative Agent or any Lender as result of any such failure. The Borrower shall make any payments required pursuant to the immediately preceding sentence within thirty (30) days after receipt of
written demand therefor from the Administrative Agent or any Lender, as the case may be. The agreements set forth in this Section 10.3 shall survive the termination of this Agreement and the payment of the Obligations. Each Lender will
promptly notify the Borrower and the Administrative Agent of any event of which it has knowledge, occurring after the date hereof, which will entitle such Lender to compensation pursuant to this Section 10.3 and will designate a
different lending office if such designation will avoid the need for, or reduce the amount of, such compensation and will not, in the reasonable judgment of such Lender made in good faith, be otherwise disadvantageous to such Lender. 

(c) Any Lender claiming compensation under this Section 10.3 shall provide the Borrower with a written certificate setting forth
the additional amount or amounts to be paid to it hereunder and calculations therefor in reasonable detail. Such certificate shall be presumptively correct absent manifest error. In determining such amount, such Lender may use any reasonable
averaging and attribution methods (it being understood that no Lender shall be required to disclose (i) any confidential or price sensitive information or (ii) any information to 

  
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the extent prohibited by applicable law). Failure or delay on the part of any Lender to demand compensation pursuant to the foregoing provisions of this Section 10.3 shall not constitute a
waiver of such Lender’s right to demand such compensation, provided that, other than in respect of Taxes, the Borrower shall not be required to compensate a Lender pursuant to the foregoing provisions of this Section if the circumstances
giving rise to such compensation occurred more than six (6) months prior to the date that such Lender notifies the Borrower of such circumstances and of such Lender’s intention to claim compensation therefor (except that, if such
circumstances are retroactive, then the six (6) month period referred to above shall be extended to include the period of retroactive effect thereof). If any Lender demands compensation under this Section 10.3, the Borrower
may at any time, upon at least five (5) Business Days’ prior notice to such Lender, Convert into a Base Rate Advance such Lender’s portion of the then outstanding LIBOR Advances, and pay to such Lender the accrued interest and
fees thereon to the date of Conversion, along with any reimbursement required under Section 2.9 hereof and this Section 10.3. 

(d) The Borrower shall pay any present or future stamp, transfer or documentary Taxes or any other excise or property Taxes that may be
imposed in connection with the execution, delivery or registration of this Agreement or any other Loan Documents. 
 (e) If any party
receives a refund of any Taxes for which it has been indemnified pursuant to this Section 10.3, it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this Section
with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant governmental authority with respect to such
refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this paragraph (e) (plus any penalties, interest or other charges imposed by the relevant
governmental authority) in the event that such indemnified party is required to repay such refund to such governmental authority. Notwithstanding anything to the contrary in this paragraph (e), in no event will the indemnified party be required to
pay any amount to an indemnifying party pursuant to this paragraph (e) the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been in if the Tax subject to
indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This paragraph shall not be construed to require
any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person. 

Section 10.4 Effect On Other Advances. If notice has been given pursuant to Section 10.1, 10.2 or 10.3
hereof suspending the obligation of any Lender to make its portion of any LIBOR Advance, or requiring such Lender’s portion of LIBOR Advances to be Converted, then, unless and until such Lender notifies the Borrower that the circumstances
giving rise to such Conversion no longer apply, all amounts which would otherwise be made by such Lender as its portion of LIBOR Advances shall be made instead as Base Rate Advances, unless otherwise notified by the Borrower. 

  
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 Section 10.5 Claims for Increased Costs and Taxes; Replacement Lenders. In the
event that any Lender shall (y) decline to make LIBOR Advances pursuant to Sections 10.1 and 10.2 hereof, or (z) have notified the Borrower that it is entitled to claim compensation pursuant to Section 10.3,
2.8, 2.9 or 2.11 hereof or is unable to complete the form required or is subject to withholding on account of any Tax (each such lender being an “Affected Lender”), the Borrower at its own cost and expense may
designate a replacement lender (a “Replacement Lender”) to purchase the outstanding Loans of such Affected Lender and such Affected Lender’s rights hereunder and with respect thereto, and within ten (10) Business Days of
such designation the Affected Lender shall (a) sell to such Replacement Lender, without recourse upon, warranty by or expense to such Affected Lender, by way of an Assignment and Assumption substantially in the form of Exhibit F
attached hereto, for a purchase price equal to (unless such Lender agrees to a lesser amount) the outstanding principal amount of the Loans of such Affected Lender, plus all interest accrued and unpaid thereon and all other amounts owing to such
Affected Lender hereunder, including without limitation, payment by the Borrower of any amount which would be payable to such Affected Lender pursuant to Section 2.9 hereof (provided that the administrative fee set forth in
Section 11.4(b)(iv) shall not apply to an assignment described in this clause (a)), and (b) upon such assumption and purchase by the Replacement Lender, such Replacement Lender shall be deemed to be a
“Lender” for purposes of this Agreement and such Affected Lender shall cease to be a “Lender” for purposes of this Agreement and shall no longer have any obligations or rights hereunder (other than any obligations
or rights which according to this Agreement shall survive the termination of this Agreement). 
 ARTICLE 11 - MISCELLANEOUS 

Section 11.1 Notices. 

(a) Notices Generally. Except in the case of notices and other communications expressly permitted to be given by telephone (and except
as provided in subsection (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by
telecopier as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows: 

(i) if to the Borrower or the Administrative Agent, to the address, telecopier number, electronic mail address or telephone
number specified for such Person on Schedule 4; and 
 (ii) if to any other Lender, to the address, telecopier number,
electronic mail address or telephone number specified to the Administrative Agent (including, as appropriate, notices delivered solely to the Person designated by a Lender for the delivery of notices that may contain material non-public information
relating to the Borrower). 
 Notices and other communications sent by hand or overnight courier service, or mailed by certified or
registered mail, shall be deemed to have been given when received; notices and other communications sent by telecopier shall be deemed to have been given when sent (except 

  
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that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next business day for the recipient). Notices and other
communications delivered through electronic communications to the extent provided in subsection (b) below, shall be effective as provided in such subsection (b). 

(b) Electronic Communications. Notices and other communications to the Lenders hereunder may be delivered or furnished by electronic
communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent and the Borrower, provided that the foregoing shall not apply to notices to
any Lender pursuant to Article 2 if such Lender has notified the Administrative Agent and the Borrower that it is incapable of receiving notices under such Article by electronic communication. The Administrative Agent or the Borrower may, in
its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices or
communications. 
 Unless the Administrative Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement); provided that if such notice or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to
have been sent at the opening of business on the next business day for the recipient, and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its
e-mail address as described in the foregoing clause (i) of notification that such notice or communication is available and identifying the website address therefor. 

(c) The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT PARTIES (AS DEFINED BELOW) DO NOT
WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY,
INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM.
In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to the Borrower, any Lender or any other Person for losses, claims, damages, liabilities or expenses of
any kind (whether in tort, contract or otherwise) arising out of the Borrower’s or the Administrative Agent’s transmission of Borrower Materials through the Internet, except to the extent that such losses, claims, damages, liabilities or
expenses are determined by a court of competent jurisdiction by a final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Agent Party; provided, however, that in no event shall any
Agent Party have any liability to the Borrower, any Lender or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct or actual damages). 

  
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 (d) Change of Address, Etc. Each of the Borrower and the Administrative Agent may
change its address, telecopier or telephone number for notices and other communications hereunder by notice to the other parties hereto. Each other Lender may change its address, telecopier or telephone number for notices and other communications
hereunder by notice to the Borrower and the Administrative Agent. In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that the Administrative Agent has on record (i) an effective address,
contact name, telephone number, telecopier number and electronic mail address to which notices and other communications may be sent and (ii) accurate wire instructions for such Lender. Furthermore, each Public Lender agrees to cause at
least one individual at or on behalf of such Public Lender to at all times have selected the “Private Side Information” or similar designation on the content declaration screen of the Platform in order to enable such Public Lender or its
delegate, in accordance with such Public Lender’s compliance procedures and Applicable Law, including United States Federal and state securities laws, to make reference to Borrower Materials that are not made available through the “Public
Side Information” portion of the Platform and that may contain material non-public information with respect to the Borrower or its securities for purposes of United States Federal or state securities laws. 

(e) Reliance by Administrative Agent and Lenders. The Administrative Agent and the Lenders shall be entitled to rely and act upon any
notices purportedly given by or on behalf of the Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the
terms thereof, as understood by the recipient, varied from any confirmation thereof. The Borrower shall indemnify the Administrative Agent, each Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities
resulting from the reliance by such Person on each notice purportedly given by or on behalf of the Borrower. All telephonic notices to and other telephonic communications with the Administrative Agent may be recorded by the Administrative Agent, and
each of the parties hereto hereby consents to such recording. 
 Section 11.2 Expenses. The Borrower will promptly pay, or
reimburse: 
 (a) all reasonable and documented
out-of-pocket expenses of the Administrative Agent in connection with the preparation, negotiation, execution and delivery of this Agreement and the other Loan
Documents, and the transactions contemplated hereunder and thereunder any amendments, waivers and consents associated therewith, including, without limitation, the reasonable and documented fees and disbursements of Shearman & Sterling LLP,
special counsel for the Administrative Agent; and 
 (b) all documented out-of-pocket costs and
expenses of the Administrative Agent and the Lenders of enforcement under this Agreement or the other Loan Documents and all documented out-of-pocket costs and expenses
of collection if an Event of Default occurs in the payment of the Notes, which in each case shall include, without limitation, reasonable fees and out-of-pocket expenses
of one counsel for the Administrative Agent and one counsel for all Lenders. 
 Section 11.3 Waivers. The rights and remedies of
the Administrative Agent and the Lenders under this Agreement and the other Loan Documents shall be cumulative and not 

  
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exclusive of any rights or remedies which they would otherwise have. No failure or delay by the Administrative Agent, the Majority Lenders and the Lenders, or any of them, in exercising any
right, shall operate as a waiver of such right. No waiver of any provision of this Agreement or consent to any departure by the Borrower or any of its Subsidiaries therefrom shall in any event be effective unless the same shall be permitted by
Section 11.11, 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. 

Section 11.4 Assignment and Participation. 

(a) Successors and Assigns Generally. 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 the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent and each
Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of subsection (b) of this Section, (ii) by way of
participation in accordance with the provisions of subsection (d) of this Section, (iii) by way of pledge or assignment of a security interest subject to the restrictions of subsection (e) of this
Section, or (iv) to an SPC in accordance with the provisions of subsection (f) of this Section (and any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement,
expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in subsection (d) 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) Assignments by Lenders. Any Lender may at any time assign to one or more assignees all or a portion of its rights and obligations
under this Agreement (including all or a portion of the Loans at the time owing to it); provided that any such assignment shall be subject to the following conditions: 

(i) Minimum Amounts. 

(A) in the case of an assignment of the entire remaining amount of the Loans at the time owing to the assigning Lender or in
the case of an assignment to a Lender, an Affiliate of a Lender, no minimum amount need be assigned; and 
 (B) in any case
not described in subsection (b)(i)(A) of this Section, the aggregate amount of the principal outstanding balance of the 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 or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date, shall not be less than 

  
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$1,000,000 unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably
withheld or delayed). 
 (ii) Proportionate Amounts. Each partial assignment shall be made as an assignment of a
proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Loans assigned; 

(iii) Required Consents. No consent shall be required for any assignment except to the extent required by
subsection (b)(i)(B) of this Section and, in addition: 
 (A) the consent of the Borrower (such consent not to
be unreasonably withheld or delayed) shall be required unless (1) an Event of Default has occurred and is continuing at the time of such assignment or (2) such assignment is to a Lender or an Affiliate of a Lender; and 

(B) the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required if
such assignment is to a Person that is not a Lender or an Affiliate of such Lender; 
 (iv) Assignment and Assumption.
The parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee in the amount of $3,500; provided, however, that the Administrative Agent
may, in its sole discretion, elect to waive such processing and recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent an administrative questionnaire in form and substance
reasonably satisfactory to the Administrative Agent. 
 (v) No Assignment to Certain Persons. No such assignment shall
be made (A) to the Borrower or any of the Borrower’s Affiliates or (B) to a natural person. 
 Subject to acceptance
and recording thereof by the Administrative Agent pursuant to subsection (c) of this Section, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and,
to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and
Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party
hereto) but shall continue to be entitled to the benefits of Sections 10.2, 10.3 and 10.5 with respect to facts and circumstances occurring prior to the effective date of such assignment. Upon request, the Borrower (at its
expense) shall execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection 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 subsection (d) of this Section. 

  
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 (c) Register. The Administrative Agent, acting solely for this purpose as an agent of
the Borrower (and such agency being solely for tax purposes), shall maintain at the Administrative Agent’s Office 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 principal amounts 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, absent manifest error, and the Borrower, the
Administrative Agent and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. This
Section 11.4(c) shall be construed so that the Obligations are at all times maintained in “registered form” within the meaning of Sections 163(f), 871(h)(2) and 881(c)(2) of the Code and any related regulations (and any other
relevant or successor provisions of the Code or Treasury Regulations promulgated thereunder). The Register shall be available for inspection by the Borrower and any Lender, as to its Commitments only, at any reasonable time and from time to time
upon reasonable prior notice. 
 (d) Participations. Any Lender may at any time, without the consent of, or notice to, the Borrower
or the Administrative Agent, sell participations to any Person (other than a natural person or the Borrower or any of the Borrower’s Affiliates) (each, a “Participant”) in all or a portion of such Lender’s rights and/or
obligations under this Agreement (including all or a portion of the Loans owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely
responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the Administrative Agent and the 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, waiver or other modification described in clauses (ii)(A), (B) or (C) of Section 11.11(a) that affects such Participant.
Subject to the following paragraph, the Borrower agrees that each Participant shall be entitled to the benefits of Section 10.3 to the same extent as if it were a Lender and had acquired its interest by assignment
pursuant to subsection (b) of this Section. 
 A Participant shall not be entitled to receive any greater payment under
Section 10.3 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant. A Participant that would be a foreign Lender if it were a Lender shall not be entitled
to the benefits of Section 2.12 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with
Section 2.12 as though it were a Lender. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on
which it enters the name and address of each participant and the principal amounts (and stated interest) of each participant’s interest in the Loans or other obligations under this Agreement (the “Participant Register”);
provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register to any Person (including the identity of any participant or any information relating to a participant’s interest in any Commitments,
Loans, or its other obligations under 

  
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any Loan Document) except each Lender that sells a participation shall make a copy of the Participant Register available for the Borrower and the Administrative Agent 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 the Borrower, the Lenders and the Administrative Agent 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. 
 (e) Certain Pledges. Any Lender may at any time pledge or assign a
security interest in all or any portion of its rights under this Agreement (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or other central
banking authority; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

(f) Notwithstanding anything to the contrary contained herein, any Lender (a “Granting Lender”) may grant to a special
purpose funding vehicle (an “SPC”) sponsored by such Granting Lender, identified as such in writing from time to time by the Granting Lender to the Administrative Agent and the Borrower, the option to provide to the Borrower all or
any part of any Advance that such Granting Lender would otherwise be obligated to make to the Borrower pursuant to this Agreement; provided that (i) nothing herein shall constitute a commitment by any SPC to make any Advance and
(ii) if an SPC elects not to exercise such option or otherwise fails to provide all or any part of such Advance, the Granting Lender shall be obligated to make such Advance pursuant to the terms hereof. The Loans by an SPC hereunder
shall be Loans of the Granting Lender to the same extent, and as if, such Loans were made by such Granting Lender. Each party hereto hereby agrees that no SPC shall be liable for any indemnity or similar payment obligation under this Agreement (all
liability for which shall remain with the Granting Lender). In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this Agreement) that, prior to the date that is one year and one day after
the payment in full of all outstanding commercial paper or other senior indebtedness of any SPC, it, solely in its capacity as a party hereto and to any other Loan Document, will not institute against, or join any other person in instituting
against, such SPC any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings under the laws of the United States or any State thereof. In addition, notwithstanding anything to the contrary contained in this
Section 11.4, any SPC may (i) with notice to, but without the prior written consent of, the Borrower and the Administrative Agent and without paying any processing fee therefor, assign all or a portion of its interests in any
Advance to the Granting Lender or to any financial institutions (consented to by the Borrower and the Administrative Agent) providing liquidity and/or credit support to or for the account of such SPC to support the funding or maintenance of Advance
and (ii) disclose on a confidential basis any non-public information relating to its Loans to any rating agency, commercial paper dealer or provider of any surety, guarantee or credit or liquidity
enhancement to such SPC. This Section 11.4(f) may not be amended without the written consent of any SPC which has been designated in writing as provided in the first sentence hereof and holds any outstanding Loans. The designation by a
Granting Lender of an SPC to fund Advances shall be deemed to be a representation, warranty, covenant and agreement by such Granting Lender to the Borrower and all other parties hereunder 

  
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that (A) the funding and maintaining of such Advances by such SPC shall not constitute a “prohibited transaction” (as such term is defined in Section 406 of ERISA or
Section 4975 of the Code), and (B) such designation, funding and maintenance would not result in any interest requiring registration under the Securities Act of 1933, as amended, or qualification under any state securities law. The
SPC shall from time to time provide to the Borrower the tax and other forms required pursuant to Section 2.12 hereof with respect to such SPC as though such SPC were a Lender hereunder. In no event shall the Borrower or any Lender other
than the Granting Lender be obligated hereunder to pay any additional amounts under any provision of this Agreement (pursuant to Article 10 hereof or otherwise) by reason of a Granting Lender’s designation of an SPC or the funding or
maintenance of Advances by such SPC, in excess of amounts which the Borrower would have been obligated to pay if such Granting Lender had not made such designation and such Granting Lender were itself funding and maintaining such Advances. The
Administrative Agent shall register the interest of any SPC in an Advance from time to time on the Register maintained pursuant to Section 11.4(c) hereof. 

Section 11.5 Indemnity. The Borrower agrees to indemnify and hold harmless each Lender, the Administrative Agent and each of their
respective Related Parties (any of the foregoing shall be an “Indemnitee”) from and against any and all claims, liabilities, obligations, losses, damages, actions, reasonable and documented external attorneys’ fees and expenses
(as such fees and expenses are reasonably incurred), penalties, judgments, suits, reasonable and documented out-of-pocket costs and demands by any third party, including the costs of investigating and defending such claims, whether or not the
Borrower or the Person seeking indemnification is the prevailing party (a) resulting from any breach or alleged breach by the Borrower of any representation or warranty made hereunder or under any Loan Document; or (b) otherwise arising out of
(i) this Agreement, any Loan Document or any transaction contemplated hereby or thereby, including, without limitation, the use of the proceeds of Loans hereunder in any fashion by the Borrower or the performance of its obligations under the
Loan Documents, (ii) allegations of any participation by a Lender, the Administrative Agent or any of them, in the affairs of the Borrower or any of its Subsidiaries, or allegations that any of them has any joint liability with the Borrower for
any reason and (iii) any claims against the Lenders, the Administrative Agent or any of them, by any shareholder or other investor in or lender to the Borrower, by any brokers or finders or investment advisers or investment bankers retained by
the Borrower or by any other third party, arising out of or under this Agreement, except to the extent that (A) the Person seeking indemnification hereunder is determined in such case to have acted with gross negligence or willful misconduct, in any
case, by a final, non-appealable judicial order of a court of competent jurisdiction or (B) such claims are for lost profits, foreseeable and unforeseeable, consequential, special, incidental or indirect damages or punitive damages. Upon receipt of
notice in writing of any actual or prospective claim, litigation, investigation or proceeding for which indemnification is provided pursuant to the immediately preceding sentence (a “Relevant Proceeding”), the recipient shall
promptly notify the Administrative Agent (which shall promptly notify the other parties hereto) thereof, and the Borrower and the Lenders agree to consult, to the extent appropriate, with a view to minimizing the cost to the Borrower of its
obligations hereunder. The Borrower shall be entitled, to the extent feasible, to participate in any Relevant Proceeding and shall be entitled to assume the defense thereof with counsel of the Borrower’s choice; provided, however,
that such counsel shall be reasonably satisfactory to such of the Indemnitees as are parties thereto; provided, further, however, that, after the Borrower has assumed the defense of any Relevant Proceeding, it will not settle, 

  
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compromise or consent to the entry of any order adjudicating or otherwise disposing of any claims against any Indemnitee (1) if such settlement, compromise or order involves the payment of
money damages, except if the Borrower agrees, as between the Borrower and such Indemnitee, to pay such money damages, and, if not simultaneously paid, to furnish such Indemnitee with satisfactory evidence of its ability to pay the same, and
(2) if such settlement, compromise or order involves any relief against such Indemnitee other than the payment of money damages, except with the prior written consent of such Indemnitee (which consent shall not be unreasonably withheld).
Notwithstanding the Borrower’s election to assume the defense of such Relevant Proceeding, such of the Indemnitees as are parties thereto shall have the right to employ separate counsel and to participate in the defense of such action or
proceeding at the expense of such Indemnitee. The obligations of the Borrower under this Section 11.5 are in addition to, and shall not otherwise limit, any liabilities which the Borrower might otherwise have in connection with any
warranties or similar obligations of the Borrower in any other Loan Document. Notwithstanding the foregoing, this Section 11.5 shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc.
arising from any non-Tax claim. 
 Section 11.6 Counterparts. This Agreement may be
executed in any number of counterparts, each of which shall be deemed to be an original, but all such separate counterparts shall together constitute one and the same instrument. The words “execution,” “signed,”
“signature,” and words of like import in this Agreement shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a
manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York
State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act; provided, further, that, without limiting the foregoing, upon the request of the Administrative Agent, any electronic
signature shall be promptly followed by such manually executed counterpart. 
 Section 11.7 Governing Law; Jurisdiction. 

(a) Governing Law. This Agreement and the Notes shall be construed in accordance with and governed by the internal laws of the State of
New York applicable to agreements made and to be performed the State of New York. 
 (b) Jurisdiction. The Borrower irrevocably and
unconditionally agrees that it will not commence any action, litigation or proceeding of any kind or description, whether in law or equity, whether in contract or in tort or otherwise, against the Administrative Agent, any Lender, or any Related
Party of the foregoing in any way relating to this Agreement or any other Loan Document or the transactions relating hereto or thereto, in any forum other than the courts of the State of New York sitting in New York County, and of the United States
District Court of the Southern District of New York, and any appellate court from any thereof, and each of the parties hereto irrevocably and unconditionally submits to the jurisdiction of such courts and agrees that all claims in respect of any
such action, litigation or proceeding may be heard and determined in such New York State court or, to the fullest extent permitted by applicable law, in such federal court. Each of the parties hereto agrees that a final judgment in any such action,

  
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litigation or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement or in any other
Loan Document shall affect any right that the Administrative Agent or any Lender may otherwise have to bring any action or proceeding relating to this Agreement or any other Loan Document against the Borrower or its properties in the courts of any
jurisdiction. 
 (c) Waiver of Venue. The Borrower irrevocably and unconditionally waives, to the fullest extent permitted by
applicable law, any objection that it may now or hereafter have to the laying of venue of any action or proceeding arising out of or relating to this Agreement or any other Loan Document in any court referred to in paragraph
(b) of this Section. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by applicable law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.

 (d) Service of Process. Each party hereto irrevocably consents to service of process in the manner provided for notices in
Section 11.1. Nothing in this Agreement will affect the right of any party hereto to serve process in any other manner permitted by applicable law. 

Section 11.8 Severability. To the extent permitted by law, any provision of this Agreement which is prohibited or unenforceable in
any jurisdiction shall be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof in that jurisdiction or affecting the validity or enforceability of such provision in any other
jurisdiction. 
 Section 11.9 Interest. 

(a) In no event shall the amount of interest due or payable hereunder or under the Notes exceed the maximum rate of interest allowed by
Applicable Law, and in the event any such payment is inadvertently made by the Borrower or inadvertently received by the Administrative Agent or any Lender, then such excess sum shall be credited as a payment of principal, unless, if no Event of
Default shall have occurred and be continuing, the Borrower shall notify the Administrative Agent or such Lender, in writing, that it elects to have such excess sum returned forthwith. It is the express intent hereof that the Borrower not pay and
the Administrative Agent and the Lenders not receive, directly or indirectly in any manner whatsoever, interest in excess of that which may legally be paid by the Borrower under Applicable Law. 

(b) Notwithstanding the use by the Lenders of the Base Rate and the Eurodollar Rate as reference rates for the determination of interest on
the Loans, the Lenders shall be under no obligation to obtain funds from any particular source in order to charge interest to the Borrower at interest rates related to such reference rates. 

Section 11.10 Table of Contents and Headings. The Table of Contents and the headings of the various subdivisions used in this Agreement
are for convenience only and shall not in any way modify or amend any of the terms or provisions hereof, nor be used in connection with the interpretation of any provision hereof. 

  
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 Section 11.11 Amendment and Waiver. 

(a) Neither this Agreement nor any Loan Document nor any term hereof or thereof may be amended orally, nor may any provision hereof or thereof
be waived orally but only by an instrument in writing signed by or at the written direction of: 
 (i) except as set forth in
(ii) and (iii) below, the Majority Lenders and, in the case of any amendment, by the Borrower; 
 (ii) with respect to
(A) any increase in the amount of any Lender’s portion of the Commitments or any extension of the Lender’s Commitments, (B) any reduction in the rate of, or postponement in the payment of any interest or fees due hereunder
or the payment thereof to any Lender without a corresponding payment of such interest or fee amount by the Borrower, (C) (1) any waiver of any Default due to the failure by the Borrower to pay any sum due to any of the Lenders hereunder
or (2) any reduction in the principal amount of the Loans without a corresponding payment, (D) any release of the Borrower from this Agreement, except in connection with a merger, sale or other disposition otherwise permitted
hereunder (in which case, such release shall require no further approval by the Lenders), (E) any amendment to the pro rata treatment of the Lenders set forth in Section 8.3 hereof, (F) any amendment of this Section
11.11, of the definition of Majority Lenders, or of any Section herein to the extent that such Section requires action by all Lenders, (G) any subordination of the Loans in full to any other Indebtedness, or (H) any
extension of the Term Loan Maturity Date, the affected Lenders and in the case of an amendment, the Borrower, (it being understood that, for purposes of this Section 11.11(a)(ii), changes to provisions of the Loan Documents that relate
only to one or more of the Loans shall be deemed to “affect” only the Lenders holding such Loans); and 
 (iii) no
amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders required above to take such action, affect the rights or duties of the Administrative Agent under this Agreement or any other
Loan Document. 
 (b) Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove
any amendment, waiver or consent hereunder (and any amendment, waiver or consent which by its terms requires the consent of all Lenders or each affected Lender may be effected with the consent of the applicable Lenders other than Defaulting
Lenders), except that (x) the Commitment of any Defaulting Lender may not be increased or extended without the consent of such Lender and (y) any waiver, amendment or modification requiring the consent of all Lenders or each affected
Lender that by its terms affects any Defaulting Lender more adversely than other affected Lenders shall require the consent of such Defaulting Lender. 

(c) In connection with any proposed amendment, modification, waiver or termination (a “Proposed Change”) requiring the
consent of all Lenders, if the consent of Majority Lenders is obtained, but the consent of the other Lenders whose consent is required is not obtained (any such Lender whose consent is not obtained being referred to as a
“Non-

  
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Consenting Lender”), then, at the Borrower’s request (and at the Borrower’s sole cost and expense), a Replacement Lender selected by the Borrower and reasonably acceptable
to the Administrative Agent, shall have the right to purchase from such Non-Consenting Lenders, and such Non-Consenting Lenders agree that they shall, upon the Borrower’s request, sell and assign to such Person, all of the Loans of such Non-Consenting Lenders for an amount equal to the principal balance of all Loans held by the Non-Consenting Lenders and all accrued interest and fees and other amounts due
(including without limitation amounts due to such Non-Consenting Lender pursuant to Section 2.9 hereof) or outstanding to such Non-Consenting Lender through
the date of sale, such purchase and sale to be consummated pursuant to an executed Assignment and Assumption substantially in the form on Exhibit F attached hereto. Upon execution of any Assignment and Assumption pursuant to this
Section 11.11(b), (i) the Replacement Lender shall be entitled to vote on any pending waiver, amendment or consent in lieu of the Non-Consenting Lender replaced by such Replacement Lender,
(ii) such Replacement Lender shall be deemed to be a “Lender” for purposes of this Agreement and (iii) such Non-Consenting Lender shall cease to be a
“Lender” for purposes of this Agreement and shall no longer have any obligations or rights hereunder (other than any obligations or rights which according to this Agreement shall survive the termination of the Loans). 

Section 11.12 Entire Agreement. Except as otherwise expressly provided herein, this Agreement, the other Loan Documents and the
other documents described or contemplated herein or therein will embody the entire agreement and understanding among the parties hereto and thereto and supersede all prior agreements and understandings relating to the subject matter hereof and
thereof. 
 Section 11.13 Other Relationships; No Fiduciary Relationships. No relationship created hereunder or under any other
Loan Document shall in any way affect the ability of the Administrative Agent and each Lender to enter into or maintain business relationships with the Borrower or any Affiliate thereof beyond the relationships specifically contemplated by this
Agreement and the other Loan Documents. The Borrower agrees that in connection with all aspects of the transactions contemplated hereby and any communications in connection therewith, the Borrower, its Subsidiaries and their respective Affiliates,
on the one hand, and the Administrative Agent, the Lenders and their respective Affiliates, on the other hand, will have a business relationship that does not create, by implication or otherwise, any fiduciary duty on the part of the Administrative
Agent, any Lender or any of their respective Affiliates, and no such duty will be deemed to have arisen in connection with any such transactions or communications. 

Section 11.14 Directly or Indirectly. If any provision in this Agreement refers to any action taken or to be taken by any Person,
or which such Person is prohibited from taking, such provision shall be applicable whether such action is taken directly or indirectly by such Person, whether or not expressly specified in such provision. 

Section 11.15 Reliance on and Survival of Various Provisions. All covenants, agreements, statements, representations and warranties
made by the Borrower herein or in any certificate delivered pursuant hereto shall (a) be deemed to have been relied upon by the Administrative Agent and each of the Lenders notwithstanding any investigation heretofore or hereafter made by them
and (b) survive the execution and delivery of this Agreement and shall continue in full force and effect so long as any Loans are outstanding and unpaid. Any right to 

  
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indemnification hereunder, including, without limitation, rights pursuant to Sections 2.9, 2.11, 10.3, 11.2 and 11.5 hereof, shall survive the termination of
this Agreement and the payment and performance of all Obligations. 
 Section 11.16 Senior Debt. The Obligations are intended by
the parties hereto to be senior in right of payment to any Indebtedness of the Borrower that by its terms is subordinated to any other Indebtedness of the Borrower. 

Section 11.17 Obligations. The obligations of the Administrative Agent and each of the Lenders hereunder are several, not joint.

 Section 11.18 Confidentiality. The Administrative Agent and the Lenders shall hold confidentially all non-public and proprietary information and all other information designated by the Borrower as confidential, in each case, obtained from the Borrower or its Affiliates pursuant to the requirements of this Agreement
in accordance with their customary procedures for handling confidential information of this nature and in accordance with safe and sound lending practices; provided, however, that the Administrative Agent and the Lenders may make
disclosure of any such information (a) to their examiners, Affiliates, outside auditors, counsel, consultants, appraisers, agents, other professional advisors, any credit insurance provider relating to the Borrower and its obligations and any
direct or indirect contractual counterparty in swap agreements or such counterparty’s professional advisor in connection with this Agreement or as reasonably required by any proposed syndicate member or any proposed transferee or participant in
connection with the contemplated transfer of any Note or participation therein (including, without limitation, any pledgee referred to in Section 11.4(e) hereof), in each case, so long as any such Person (other than any examiners)
receiving such information is advised of the provisions of this Section 11.18 and agrees to be bound thereby, (b) as required or requested by any governmental authority or self-regulatory body or representative thereof or in
connection with the enforcement hereof or of any Loan Document or related document or (c) pursuant to legal process or with respect to any litigation between or among the Borrower and any of the Administrative Agent or the Lenders. In no
event shall the Administrative Agent or any Lender be obligated or required to return any materials furnished to it by the Borrower. The foregoing provisions shall not apply to the Administrative Agent or any Lender with respect to information that
(i) is or becomes generally available to the public (other than through the Administrative Agent or such Lender), (ii) is already in the possession of the Administrative Agent or such Lender on a non-confidential basis, or
(iii) comes into the possession of the Administrative Agent or such Lender from a source other than the Borrower or its Affiliates in a manner not known to the Administrative Agent or such Lender to involve a breach of a duty of
confidentiality owing to the Borrower or its Affiliates. 
 Section 11.19 USA PATRIOT ACT Notice. Each Lender that is subject to
the Act (as hereinafter defined) and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law
October 26, 2001)) (the “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 or the Administrative Agent, as applicable, to identify the Borrower in accordance with the Act. 

  
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 Section 11.20 Acknowledgement and Consent to Bail-In of Affected Financial
Institutions. Notwithstanding anything to the contrary in this Agreement, any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Affected
Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the Write-Down and Conversion Powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees
to be bound by: 
 (a) the application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such
liabilities arising hereunder which may be payable to it by any party hereto that is an Affected Financial Institution; and 
 (b) the
effects of any Bail-In Action on any such liability, including, if applicable: 
 (i)
a reduction in full or in part or cancellation of any such liability; 
 (ii) a conversion of all, or a portion of, such
liability into shares or other instruments of ownership in such Affected Financial Institution, its parent 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 
 (iii) the
variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of the applicable Resolution Authority. 

Section 11.21 Right of Set-off. If an Event of Default shall have occurred and be continuing, each Lender and each of their
respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever
currency) at any time held, and other obligations (in whatever currency) at any time owing, by such Lender or any such Affiliate, to or for the credit or the account of the Borrower against any and all of the obligations of the Borrower now or
hereafter existing under this Agreement or any other Loan Document to such Lender or its Affiliates, irrespective of whether or not such Lender or Affiliate shall have made any demand under this Agreement or any other Loan Document and although such
obligations of the Borrower may be contingent or unmatured or are owed to a branch, office or Affiliate of such Lender different from the branch, office or Affiliate holding such deposit or obligated on such indebtedness; provided that in the event
that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of Section 2.14 and,
pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent and the Lenders, and (y) the Defaulting Lender shall provide promptly to the
Administrative Agent a statement describing in reasonable detail the Advances owing to such Defaulting Lender as to which it exercised such right of setoff. The rights of each Lender and their respective Affiliates under this Section are in addition
to other rights and remedies (including other rights of setoff) that such Lender or its 

  
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Affiliates may have. Each Lender agrees to notify the Borrower and the Administrative Agent promptly after any such setoff and application; provided that the failure to give such notice shall not
affect the validity of such setoff and application. 
 ARTICLE 12 - WAIVER OF JURY TRIAL 

Section 12.1 Waiver of Jury Trial. EACH OF THE BORROWER AND THE ADMINISTRATIVE AGENT AND THE LENDERS, HEREBY AGREE, TO THE EXTENT
PERMITTED BY LAW, TO WAIVE AND HEREBY WAIVE THE RIGHT TO A TRIAL BY JURY IN ANY COURT AND IN ANY ACTION OR PROCEEDING OF ANY TYPE IN WHICH THE BORROWER, ANY OF THE LENDERS, THE ADMINISTRATIVE AGENT, OR ANY OF THEIR RESPECTIVE SUCCESSORS OR ASSIGNS
IS A PARTY, AS TO ALL MATTERS AND THINGS ARISING DIRECTLY OR INDIRECTLY OUT OF THIS AGREEMENT, ANY OF THE NOTES OR THE OTHER LOAN DOCUMENTS AND THE RELATIONS AMONG THE PARTIES LISTED IN THIS SECTION 12.1. EXCEPT AS PROHIBITED BY LAW, EACH
PARTY TO THIS AGREEMENT WAIVES ANY RIGHTS IT MAY HAVE TO CLAIM OR RECOVER IN ANY LITIGATION REFERRED TO IN THIS SECTION, ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES OR ANY DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES. EACH
PARTY TO THIS AGREEMENT (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE ADMINISTRATIVE AGENT OR ANY LENDER HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE ADMINISTRATIVE AGENT OR ANY LENDER WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVERS AND (B) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND EACH OTHER LOAN DOCUMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. THE
PROVISIONS OF THIS SECTION HAVE BEEN FULLY DISCLOSED BY AND TO THE PARTIES AND THE PROVISIONS SHALL BE SUBJECT TO NO EXCEPTIONS. NO PARTY HAS IN ANY WAY AGREED WITH OR REPRESENTED TO ANY OTHER PARTY THAT THE PROVISIONS OF THIS SECTION WILL NOT BE
FULLY ENFORCED IN ALL INSTANCES. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 -69- 

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

							
	BORROWER:	 		 	AMERICAN TOWER CORPORATION
				
		 		 	By:	 	 /s/ Rodney M. Smith

		 		 		 	Name: Rodney M. Smith
		 		 		 	Title: Executive Vice President, Chief Financial Officer and Treasurer

  
 [Signature Page to
Term Loan Agreement] 

							
	ADMINISTRATIVE AGENT AND LENDERS:	 		 	TORONTO DOMINION (TEXAS) LLC, 
as Administrative Agent
				
		 		 	By:	 	 /s/ Angela Del Duca

		 		 		 	Name: Angela Del Duca 

		 		 		 	Title: Authorized Signatory
			
		 		 	THE TORONTO-DOMINION BANK, NEW YORK BRANCH, 
as a Lender
				
		 		 	By:	 	 /s/ Angela Del Duca

		 		 		 	Name: Angela Del Duca 

		 		 		 	Title: Authorized Signatory
			
		 		 	COBANK ACB, 
as a Lender
				
		 		 	By:	 	 /s/ Gary Franke

		 		 		 	Name: Gary Franke
		 		 		 	Title: Managing Director
			
		 		 	SANTANDER BANK, N.A., 
as a Lender
				
		 		 	By:	 	 /s/ Pablo Urgoiti

		 		 		 	Name: Pablo Urgoiti
		 		 		 	Title: Managing Director
				
		 		 	By:	 	 /s/ Nuno Dias Andrade

		 		 		 	Name: Nuno Dias Andrade
		 		 		 	Title: Managing Director
			
		 		 	MORGAN STANLEY BANK, N.A., 
as a Lender
				
		 		 	By:	 	 /s/ Julie Lilienfeld

		 		 		 	Name: Julie Lilienfeld 

		 		 		 	Title: Authorized Signatory

  
 [Signature Page to
Term Loan Agreement] 

							
		 		 	MUFG UNION BANK, N.A., 
as a Lender
				
		 		 	By:	 	 /s/ Marlon Mathews

		 		 		 	Name: Marlon Mathews 

		 		 		 	Title: Director
			
		 		 	THE BANK OF NOVA SCOTIA, 
as a Lender
				
		 		 	By:	 	 /s/ Joseph Ward

		 		 		 	Name: Joseph Ward
		 		 		 	Title: Managing Director
			
		 		 	BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH,
as a Lender
				
		 		 	By:	 	 /s/ Brian Crowley

		 		 		 	Name: Brian Crowley
		 		 		 	Title: Managing Director
				
		 		 	By:	 	 /s/ Miriam Trautmann

		 		 		 	Name: Miriam Trautmann
		 		 		 	Title: Senior Vice President
			
		 		 	CITIBANK, N.A., 
as a Lender
				
		 		 	By:	 	 /s/ Keith Lukasavich

		 		 		 	Name: Keith Lukasavich 

		 		 		 	Title: Vice President & Managing Director
			
		 		 	COMMERZBANK AG, NEW YORK BRANCH, 
as a Lender
				
		 		 	By:	 	 /s/ Mathew Ward

		 		 		 	Name: Mathew Ward
		 		 		 	Title: Director
				
		 		 	By:	 	 /s/ Robert Sullivan

		 		 		 	Name: Robert Sullivan
		 		 		 	Title: Vice President

  
 [Signature Page to
Term Loan Agreement] 

							
		 		 	SUMITOMO MITSUI BANKING CORPORATION 
as a Lender
				
		 		 	By:	 	 /s/ Michael Maguire

		 		 		 	Name: Michael Maguire
		 		 		 	Title: Managing Director
			
		 		 	BANK OF AMERICA, N.A., 
as a Lender
				
		 		 	By:	 	/s/ Kyle Oberkrom
		 		 		 	 Name: Kyle Oberkrom

		 		 		 	Title: Vice President
			
		 		 	GOLDMAN SACHS BANK USA, 
as a Lender
				
		 		 	By:	 	 /s/ Rebecca Kratz

		 		 		 	Name: Rebecca Kratz
		 		 		 	Title: Authorized Signatory

  
 [Signature Page to
Term Loan Agreement] 

 SCHEDULE 1 

COMMITMENTS 
  

					
	 Lender
	  	Term Loan
Commitment	 
	 The Toronto-Dominion Bank, New York Branch
	  	$	250,000,000	 
	 CoBank, ACB
	  	$	175,000,000	 
	 Santander Bank, N.A.
	  	$	150,000,000	 
	 Morgan Stanley Bank, N.A.
	  	$	50,000,000	 
	 MUFG Union Bank, N.A.
	  	$	50,000,000	 
	 The Bank of Nova Scotia
	  	$	100,000,000	 
	 Banco Bilbao Vizcaya Argentaria, S.A. New York Branch
	  	$	75,000,000	 
	 Citibank, N.A.
	  	$	75,000,000	 
	 Commerzbank AG, New York Branch
	  	$	75,000,000	 
	 Sumitomo Mitsui Banking Corporation
	  	$	75,000,000	 
	 Bank of America, N.A.
	  	$	50,000,000	 
	 Goldman Sachs Bank USA
	  	$	15,000,000	 
		  	  
	  
	 
	 Total:
	  	$	1,140,000,000	 
		  	  
	  
	 

 SCHEDULE 2 

EXISTING ABS FACILITIES 

$1,300.0 million aggregate principal amount of Secured Tower Revenue Securities, Series 2013-2, Subclass A and
$500.0 million aggregate principal amount of Secured Tower Revenue Securities, Series 2018-1, Subclass A issued by the American Tower Trust I 

$350.0 million aggregate principal amount of American Tower Secured Revenue Notes, Series 2015-1,
Class A and $525.0 million aggregate principal amount American Tower Secured Revenue Notes, Series 2015-2, Class A issued by GTP Acquisition Partners I, LLC 

 SCHEDULE 3 

SUBSIDIARIES ON THE AGREEMENT DATE 
 10
Presidential Way Associates, LLC 
 ACC Tower Sub, LLC 

Adquisiciones y Proyectos Inalámbricos, S. de R. L. de C.V. 

Alternative Networking LLC 
 American Tower Asset Sub II, LLC 

American Tower Asset Sub, LLC 
 American Tower Charitable
Foundation, Inc. 
 American Tower Delaware Corporation 

American Tower Depositor Sub, LLC 
 American Tower do Brasil -
Cessão de Infraestruturas Ltda. 
 American Tower do Brasil – Communicação Multimídia Ltda. 

American Tower Guarantor Sub, LLC 
 American Tower Holding Sub,
LLC 
 American Tower Holding Sub II, LLC 
 American Tower
International Holding I LLC 
 American Tower International Holding II LLC 

American Tower International, Inc. 
 American Tower Investments
LLC 
 American Tower LLC 
 American Tower Management, LLC 

American Tower Mauritius 
 American Tower, L.P. 

American Tower Servicios Fibra, S. de R.L. de C.V. 
 American
Tower Tanzania Operations Limited 
 American Towers LLC 
 AT
Kenya C.V. 
 AT Netherlands C.V. 
 AT Netherlands
Coöperatief U.A. 
 AT Sao Paulo C.V. 
 AT Sher Netherlands
Coöperatief U.A. 
 AT South America C.V. 
 ATC Africa
Holding B.V. 
 ATC Africa Shared Services (Pty) Ltd 
 ATC
Antennas Holding LLC 
 ATC Antennas LLC 
 ATC Argentina
Coöperatief U.A. 
 ATC Argentina C.V. 
 ATC Argentina
Holding LLC 
 ATC Asia Pacific Pte. Ltd. 
 ATC Atlantic C.V.

 ATC Atlantic II B.V. 
 ATC Backhaul LLC 

ATC Brasil – Serviços de Conectividades Ltda. 

 ATC Brazil Holding LLC 

ATC Brazil I LLC 
 ATC Brazil II LLC 

ATC Chile Holding LLC 
 ATC Colombia B.V. 

ATC Colombia Holding I LLC 
 ATC Colombia Holding LLC 

ATC Colombia I LLC 
 ATC CSR Foundation India 

ATC Ecuador Holding LLC 
 ATC Edge LLC 

ATC EH GmbH & Co. KG 
 ATC Europe B.V. 

ATC Europe LLC 
 ATC European Holdings, Inc. 

ATC Fibra de Colombia, S.A.S. 
 ATC France SAS 

ATC France Coöperatief U.A. 
 ATC France Holding SAS 

ATC France Holding II SAS 
 ATC France Réseaux SAS 

ATC France Services SAS 
 ATC Germany Holdings GmbH 

ATC Germany Services GmbH 
 ATC GP GmbH 

ATC Global Employment B.V. 
 ATC Heston B.V. 

ATC Holding Fibra Mexico S. de R.L. DE C.V. 
 ATC India
Infrastructure Private Limited 
 ATC Indoor DAS Holding LLC 

ATC Indoor DAS LLC 
 ATC International Coöperatief U.A. 

ATC International Financing B.V. 
 ATC International Financing II
B.V. 
 ATC International Financing II Holding LLC 
 ATC
International Holding Corp. 
 ATC IP LLC 
 ATC Iris I LLC 

ATC Kenya Operations Limited 
 ATC Kenya Services Limited 

ATC Latin America S.A. de C.V., SOFOM, E.N.R. 
 ATC Managed Sites
Holding LLC 
 ATC Managed Sites LLC 
 ATC MexHold LLC 

ATC Mexico Holding LLC 
 ATC Nigeria Coöperatief U.A. 

 ATC Nigeria C.V. 

ATC Nigeria Holding LLC 
 ATC Nigeria Wireless Infrastructure
Limited 
 ATC On Air + LLC 
 ATC Operations LLC 

ATC Outdoor DAS, LLC 
 ATC Paraguay Holding LLC 

ATC Paraguay S.R.L. 
 ATC Peru Holding LLC 

ATC Ponderosa B-I LLC 

ATC Ponderosa B-II LLC 

ATC Ponderosa K LLC 
 ATC Ponderosa
K-R LLC 
 ATC Sequoia LLC 

ATC Sitios de Chile S.A. 
 ATC Sitios de Colombia S.A.S. 

ATC Sitios del Peru S.R.L. 
 ATC Sitios Infraco S.A.S. 

ATC South Africa Investment Holdings (Proprietary) Limited 
 ATC
South Africa Wireless Infrastructure (Pty) Ltd 
 ATC South Africa Wireless Infrastructure II (Pty) Ltd 

ATC South America Holding LLC 
 ATC South LLC 

ATC Tanzania Holding LLC 
 ATC Telecom Infrastructure Private
Limited 
 ATC Tower (Ghana) Limited 
 ATC Tower Services LLC

 ATC TRS I LLC 
 ATC TRS II LLC 

ATC TRS III LLC 
 ATC Uganda Limited 

ATC Watertown LLC 
 ATC WiFi LLC 

ATS-Needham LLC 
 Blue
Transfer Sociedad Anonima 
 California Tower, Inc. 
 Cell Site
NewCo II, LLC 
 Cell Tower Lease Acquisition LLC 
 Central
States Tower Holdings, LLC 
 CNC2 Associates, LLC 
 Colo ATL,
LLC 
 Comunicaciones y Consumos S.A. 
 Connectivity
Infrastructure Services Limited 
 DCS Tower Sub, LLC 
 Eaton
Towers Burkina Faso S.A. 
 Eaton Towers Ghana Limited 

 Eaton Towers Ghana (M) Limited 

Eaton Towers Holdings Limited 
 Eaton Towers Kenya Limited 

Eaton Towers (Lilongwe) Limited 
 Eaton Towers Limited 

Eaton Towers Niger S.A. 
 Eaton Towers Uganda Limited 

Eure-et-Loir Réseaux Mobiles SAS 

Ghana Tower InterCo B.V. 
 Global Tower Assets III, LLC 

Global Tower Assets, LLC 
 Global Tower Holdings, LLC 

Global Tower Services, LLC 
 Global Tower, LLC 

Goodison One Hundred Twenty Limited 
 Gondola Tower Holdings LLC

 GrainComm I, LLC 
 GrainComm II, LLC 

GrainComm III, LLC 
 GrainComm V, LLC 

GrainComm Marketing, LLC 
 Grain Communications REIT II, Inc. 

Grain HoldCo, LLC 
 Grain HoldCo Parent, LLC 

GTP Acquisition Partners I, LLC 
 GTP Acquisition Partners II, LLC

 GTP Acquisition Partners III, LLC 
 GTP Costa Rica Finance,
LLC 
 GTP Infrastructure I, LLC 
 GTP Infrastructure II, LLC

 GTP Infrastructure III, LLC 
 GTP Investments LLC 

GTP LATAM Holdings B.V. 
 GTP LatAm Holdings Coöperatieve
U.A. 
 GTP Operations CR, S.R.L. 
 GTP South Acquisitions II,
LLC 
 GTP Structures I, LLC 
 GTP Structures II, LLC 

GTP Structures III, LLC 
 GTP Torres CR, S.R.L. 

GTP Towers Costa Rica Holdcorp S.R.L. 
 GTP Towers I, LLC 

GTP Towers II, LLC 
 GTP Towers III, LLC 

GTP Towers IV, LLC 
 GTP Towers IX, LLC 

 GTP Towers V, LLC 

GTP Towers VII, LLC 
 GTP Towers VIII, LLC 

GTP TRS I LLC 
 GTPI HoldCo, LLC 

Haysville Towers, LLC 
 JT Communications, LLC 

Lap do Brasil Empreendimentos Imobiliários Ltda 
 LAP
Inmobiliaria Limitada 
 Loxel SAS 
 MATC Digital, S. de R.L. de
C.V. 
 MATC Fibraoptica, S. de R.L. de C.V. 
 MATC
Infraestructura, S. de R.L. de C.V. 
 MATC Servicios, S. de R.L. de C.V. 

MHB Tower Rentals of America, LLC 
 MC New Macland Properties, LLC

 MCSU Properties, LLC 
 Municipal Bay, LLC 

Municipal-Bay Holdings, LLC 

New Towers LLC 
 PCS Structures Towers, LLC 

Red Spires Asset Sub, LLC 
 Richland Towers, LLC 

RSA Media, Inc. 
 Southeast Network Access Point, LLC 

SpectraSite Communications, LLC 
 SpectraSite, LLC 

T8 Ulysses Site Management LLC 
 Tower Management, Inc. 

Towers of America, L.L.L.P. 
 Transcend Infrastructure Holdings
Pte. Ltd. 
 Transcend Towers Infrastructure (Philippines), Inc. 

Uganda Tower Interco B.V. 
 Ulysses Asset Sub I, LLC 

Ulysses Asset Sub II, LLC 
 UniSite, LLC 

UniSite/Omnipoint FL Tower Venture, LLC 
 UniSite/Omnipoint NE
Tower Venture, LLC 
 UniSite/Omnipoint PA Tower Venture, LLC 

Verus Management One, LLC 

 SCHEDULE 4 

AGENT’S OFFICE; 

CERTAIN ADDRESSES FOR NOTICES 

BORROWER: 
 American Tower Corporation 

116 Huntington Avenue 
 Boston, MA 02116 

Attention: Treasurer (or General Counsel if legal notice) 

Telephone:                      

Fax: 617-375-7575 

Website Address: www.americantower.com 
 U.S. Taxpayer
Identification Number:                      

AGENT: 
 Administrative Agent’s Office

 (for payments and Requests for Credit Extensions): 

Toronto Dominion (Texas) LLC 
 Attention: Administrative Agent

 Telephone: N/A 
 Telecopier: 416 982 5535 

Electronic Mail:                      

Wire Instructions for Payments: 
  

 EXHIBIT A 

FORM OF REQUEST FOR ADVANCE 

Date: [                    ],
20[    ] 
  

	To:	 Toronto Dominion (Texas) LLC, as Administrative Agent 

Ladies and Gentlemen: 
 Reference is made to
that certain Term Loan Agreement, to be dated as of                     , 2020 (as amended, restated, extended, supplemented or otherwise modified in
writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), by and among American Tower Corporation, a Delaware corporation (the “Borrower”), the Lenders from time to
time party thereto and Toronto Dominion (Texas) LLC, as Administrative Agent. 
 The undersigned hereby requests (select one): 

☐  An Advance of Loans
                     ☐  A conversion or continuation of Loans 

 

	 	1.	 On
                                         (a
Business Day). 

  

	 	2.	 In the amount of
$                . 

  

	 	3.	 Comprised of
                                         
       . 

 [type of Advance requested] 

 

	 	4.	 For LIBOR Advances: with an Interest Period of      months with a maturity date of
                    . 

The Borrower hereby represents and warrants that the conditions specified in Section 3.1 of the Agreement shall be
satisfied on and as of the date of the Advance. 
 This letter agreement shall be governed by, and construed in accordance with, the laws of
the State of New York. 
  

			
	AMERICAN TOWER CORPORATION, a Delaware corporation
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 A-1 

Form of Request for Advance 

 EXHIBIT B 

[Reserved] 

  
 B-1 

 EXHIBIT C 

FORM OF NOTE 

$                     

FOR VALUE RECEIVED, the undersigned (the “Borrower”), hereby promises to pay to
                     or registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter
defined), the principal amount of                      made by the Lender to the Borrower under that certain Term Loan Agreement, dated as of
                    , 2020 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the
“Agreement;” the terms defined therein being used herein as therein defined), among the Borrower, the Lenders from time to time party thereto, and Toronto Dominion (Texas) LLC, as Administrative Agent. 

The Borrower promises to pay interest on the unpaid principal amount of the Loan made by the Lender from the date of such Loan until such
principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. All payments of principal and interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately
available funds at the Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before
as well as after judgment) computed at the per annum rate set forth in the Agreement. 
 This promissory note is one of the Notes referred
to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part subject to the terms and conditions provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the
Agreement, all amounts then remaining unpaid on this Note shall become, or may be declared to be, immediately due and payable all as provided in the Agreement. The Loan made by the Lender shall be evidenced by a loan account or record maintained by
the Lender in the ordinary course of business. The Lender may also attach a schedule to this Note and endorse thereon the date, amount and maturity of its Loan and payments with respect thereto. 

The Borrower, for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand,
dishonor and non-payment of this Note. 

  
 C-1 

Form of Note 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK. 
  

			
	AMERICAN TOWER CORPORATION
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 C-2 

Form of Note 

 LOANS AND PAYMENTS WITH RESPECT THERETO 

 

																									
	 Date
	  	Type of
Loan Made	 	  	Amount of
Loan Made	 	  	End of
Interest
Period	 	  	Amount of
Principal
or Interest
Paid This
Date	 	  	Outstanding
Principal
Balance
This Date	 	  	Notation
Made By	 
		  				  				  				  				  				  			
		  				  				  				  				  				  			
		  				  				  				  				  				  			
		  				  				  				  				  				  			
		  				  				  				  				  				  			
		  				  				  				  				  				  			
		  				  				  				  				  				  			
		  				  				  				  				  				  			
		  				  				  				  				  				  			
		  				  				  				  				  				  			
		  				  				  				  				  				  			
		  				  				  				  				  				  			
		  				  				  				  				  				  			
		  				  				  				  				  				  			
		  				  				  				  				  				  			
		  				  				  				  				  				  			
		  				  				  				  				  				  			
		  				  				  				  				  				  			

  
 C-3 

Form of Note 

 EXHIBIT D 

FORM OF LOAN CERTIFICATE 

[                    ],
20[    ] 
 The undersigned,
[                    ], the
[                    ] of American Tower Corporation, a Delaware corporation (the “Company”), does hereby certify, on and as of
the date hereof, in the name of and on behalf of the Company pursuant to that certain Term Loan Agreement, dated as of the date hereof (the “Loan Agreement”), by and among the Company, the financial institutions party thereto as
lenders and Toronto Dominion (Texas) LLC, as Administrative Agent, as follows: 
 1. All terms not otherwise defined herein
shall have the meanings assigned to such terms in the Loan Agreement. 
 2. Attached hereto as Exhibit A is a true,
complete and correct copy of the certificate of incorporation of the Company (the “Certificate of Incorporation”) as certified by the Secretary of State of the State of Delaware as of the date given on the certificate. The
Certificate of Incorporation has not been amended or restated, and no document with respect to an amendment to the Certificate of Incorporation has been filed with the Secretary of State since such date. 

3. Attached hereto as Exhibit B is a true, complete and correct copy of the
By-laws of the Company, as have been in full force and effect at all times from the date thereof through the date hereof. 

4. (i) Attached hereto as Exhibit C is a true and correct copy of certain resolutions, duly adopted by the Board of
Directors of the Company [at a meeting held ][by unanimous written consent] on [                    ] (the “Resolutions”), (ii) that
the Resolutions have not been amended, modified or rescinded and remain in full force and effect, and (iii) that the Resolutions constitute all of the resolutions or consents of the Board of Directors of the Company relating to the transactions
contemplated by the Loan Documents. 
 5. Attached hereto as Exhibit D are the names and the respective offices and
the true and genuine specimen signatures (or facsimiles thereof) of the duly elected, qualified and acting officers of the Company authorized to execute and deliver on behalf of the Company the Loan Documents to which it is a party, and all other
documents necessary or appropriate to consummate the transactions contemplated therein or in the Loan Agreement and the Loan Documents. 

6. Attached hereto as Exhibit E is a true, correct and complete copy of a Certificate of Good Standing as of a recent
date for the Company issued by the Secretary of State of the State of Delaware. 

  
 D-1 

Form of Loan Certificate 

 7. Goodwin Procter LLP is entitled to rely on this certificate in rendering
its opinion pursuant to Section 3.1(c)(i) of the Loan Agreement. 
 [Signature Pages Follow] 

  
 D-2 

Form of Loan Certificate 

 IN WITNESS WHEREOF, the undersigned has executed this certificate as of the date
first written above. 
  

			
	By:	 	  

		 	Name: [                    ]
		 	Title: [                    ]

 The undersigned,
[                    ],[                    ] of
the Company, hereby certifies that [                    ], who executed the foregoing Certificate, is the duly elected, qualified and acting
[                    ] of the Company and that the signature set forth above his name is his genuine signature. 

IN WITNESS WHEREOF, the undersigned has executed this certificate as of the date first written above. 

 

			
	By:	 	  

		 	Name: [                    ]
		 	Title: [                    ]

  
 D-3 

Form of Loan Certificate 

 EXHIBIT A 

CERTIFICATE OF INCORPORATION 

  
 D-4 

Form of Loan Certificate 

 EXHIBIT B 

BY-LAWS 

  
 D-5 

Form of Loan Certificate 

 EXHIBIT C 

RESOLUTIONS 

  
 D-6 

Form of Loan Certificate 

 EXHIBIT D 

INCUMBENCY 
  

					
	 Name
	 	 Office
	 	 Signature

			
	[                    ]	 	[                    ]	 	[                    ]
			
	[                    ]	 	[                    ]	 	[                    ]
			
	[                    ]	 	[                    ]	 	[                    ]
			
	[                    ]	 	[                    ]	 	[                    ]
			
	[                    ]	 	[                    ]	 	[                    ]
			
	[                    ]	 	[                    ]	 	[                    ]

  
 D-7 

Form of Loan Certificate 

 EXHIBIT E 

GOOD STANDING CERTIFICATE 

  
 D-8 

Form of Loan Certificate 

 EXHIBIT E 

FORM OF PERFORMANCE CERTIFICATE 

[                    ],
20[    ] 
 Financial Statement Date:
[                    ], 20[    ] 
  

	To:	 Toronto Dominion (Texas) LLC, as Administrative Agent 

The undersigned [                    ], as
[                    ] of AMERICAN TOWER CORPORATION, a Delaware corporation (the “Borrower”), does hereby certify, on and as of the
date hereof, in the name of and on behalf of the Borrower in connection with that certain Term Loan Agreement, dated as of the date hereof (the “Loan Agreement”), by and among the Borrower, the financial institutions party thereto
as lenders and Toronto Dominion (Texas) LLC, as Administrative Agent, as follows: 
 1. Calculations demonstrating compliance with Sections
7.5 and 7.6 of the Loan Agreement are set forth on Schedule 1 attached hereto; and 
 2. To the knowledge of the undersigned, no
Default or Event of Default has occurred and is continuing or, if a Default has occurred, each such Default and its nature, when it occurred, whether it is continuing and the steps being taken by the Borrowers with respect to such Default are set
forth on Schedule 2 attached hereto. 
 Capitalized terms used herein and not otherwise defined have the meaning given to them in the
Loan Agreement. 
 [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

  
 E-1 

Form of Performance Certificate 

 IN WITNESS WHEREOF, the undersigned has executed this certificate as of the date
first written above. 
  

			
	AMERICAN TOWER CORPORATION, a Delaware corporation
		
	By:	 	  

		 	Name: [                    ]
		 	Title: [                    ]

  
 E-2 

Form of Performance Certificate 

 For the [Quarter] [Year] ended
                    , 20     (“Statement Date”) 

SCHEDULE 1 
 to the
Performance Certificate 
 ($ in 000’s) 

ARTICLE 13 - (A) Section 7.5 of the Loan Agreement 
  

													
	1.	 	Senior Secured Leverage Ratio Compliance	  			
				
		 	(a)	 	Senior Secured Debt as of the last day of such fiscal quarter or on any other calculation date, as applicable = the aggregate amount of secured Indebtedness plus Attributable Debt as of such date (including, without
limitation, Indebtedness under any Existing ABS Facility and Indebtedness under any additional ABS Facilities entered into in accordance with Section 7.1(h) of the Loan Agreement)	  	$	             	 
					
		 		 		 	divided by	  			
				
		 	(b)	 	Adjusted EBITDA for the four fiscal quarter period ended on the last day of such fiscal quarter, if calculated as of the end of a fiscal quarter, or for the four fiscal quarter period ended on the last day of the most
recently completed fiscal quarter for which financial statements have been delivered pursuant to Section 6.1 or 6.2 of the Loan Agreement, if calculated at the time of incurrence of any Indebtedness = the sum of (in each case determined in
accordance with GAAP):	  			
					
		 		 	(1)	 	Net Income	  	$	             	 
					
		 		 		 	plus (to the extent deducted in determining such Net Income)	  			
					
		 		 	(2)	 	The sum of:	  			
						
		 		 		 	(A)	 	Interest Expense	  	$	             	 
						
		 		 		 		 	plus	  			
						
		 		 		 	(B)	 	income tax expense, including, without limitation, taxes paid or accrued based on income, profits or capital, including state, franchise and similar taxes and foreign withholding taxes	  	$	             	 
						
		 		 		 		 	plus	  			
						
		 		 		 	(C)	 	depreciation and amortization (including, without limitation, amortization of goodwill and other intangible	  			

  
 E-3 

Form of Performance Certificate 

													
		 		 		 		 	assets)	  	$	             	 
						
		 		 		 		 	 plus
	  			
						
		 		 		 	(D)	 	extraordinary losses and non-recurring non-cash charges and expenses	  	$	             	 
						
		 		 		 		 	plus	  			
						
		 		 		 	(E)	 	all other non-cash charges, expenses and interest (including, without limitation, any non-cash losses in respect of Hedge Agreements, non-cash impairment charges, non-cash valuation charges for stock option grants or vesting of restricted stock awards or any other
non-cash compensation charges and losses from the early extinguishment of Indebtedness)	  	$	             	 
						
		 		 		 		 	plus	  			
						
		 		 		 	(F)	 	non-recurring integration costs and expenses resulting from operational changes and improvements (including, without limitation, severance costs and business optimization expenses)	  	$	             	 
						
		 		 		 		 	plus	  			
						
		 		 		 	(G)	 	non-recurring charges and expenses, restructuring charges, transaction expenses (including, without limitation, transaction expenses incurred in connection with any merger or acquisition)
and underwriters’ fees, and severance and retention payments in connection with any merger or acquisition, in each case for such period	  	$	             	 
						
		 		 		 		 	less	  			
						
		 		 		 	(H)	 	extraordinary gains and cash payments (not otherwise deducted in determining Net Income) made during such period with respect to non-cash charges that were added back in a prior period	  	$	             	 
						
		 		 		 		 	SUBTOTAL for (b):	  	$	             	 
						
		 		 		 		 	 TOTAL SENIOR SECURED LEVERAGE RATIO (line (a) divided by line (b)) =
	  	 	        : 1.00	 

  
 E-4 

Form of Performance Certificate 

													
						
		 		 		 		 	 Maximum ratio permitted for applicable period =
	  	 	3.00: 1.00	 

  
 E-5 

Form of Performance Certificate 

 ARTICLE 14 - (B) Section 7.6 of the Loan Agreement 

 

													
			
	1.	  	Total Borrower Leverage Ratio Compliance	  			
				
		  	(a)	  	Total Debt as of the last day of such fiscal quarter or on any other calculation date, as applicable = the sum (without duplication) of, in each case for the Borrower and its Subsidiaries on a consolidated basis:	  			
					
		  		  	(1)	  	the outstanding principal amount of the Loans as of such date	  	$	             	 
					
		  		  		  	plus	  			
					
		  		  	(2)	  	the aggregate amount of Indebtedness plus Attributable Debt of such Persons as of such date	  	$	             	 
					
		  		  		  	plus	  			
					
		  		  	(3)	  	the aggregate amount of all Guaranties by such Persons of Indebtedness as of such date	  	$	             	 
					
		  		  		  	plus	  			
					
		  		  	(4)	  	to the extent payable by the Borrower, an amount equal to the aggregate exposure of the Borrower under any Hedge Agreements permitted pursuant to Section 7.1 of the Loan Agreement, as calculated on a marked to market
basis as of the last day of the fiscal quarter being tested or the last day of the most recently completed fiscal quarter, as applicable	  	$	             	 
					
		  		  		  	less	  			
					
		  		  	(5)	  	the sum of all unrestricted domestic cash and Cash Equivalents of the Borrower and its Subsidiaries as of such date	  	$	             	 
					
		  		  		  	SUBTOTAL for (a):	  	$	             	 
						
		  		  		  		  	divided by	  			
				
		  	(b)	  	Adjusted EBITDA for the four fiscal quarter period ended on the last day of such fiscal quarter, if calculated as of the end of a fiscal quarter, or for the four fiscal quarter period ended on the last day of the most
recently completed fiscal quarter for which financial statements have been delivered pursuant to Section 6.1 or 6.2 of the Loan Agreement, if calculated at the time of incurrence of any Indebtedness = the sum of (in each case determined in
accordance with GAAP):	  	$	             	 

  
 E-6 

Form of Performance Certificate 

													
					
		  		  	(1)	  	Net Income	  	$	             	 
					
		  		  		  	plus (to the extent deducted in determining such Net Income)	  			
					
		  		  	(2)	  	The sum of:	  			
						
		  		  		  	(A)	  	Interest Expense	  	$	             	 
						
		  		  		  		  	plus	  			
						
		  		  		  	(B)	  	income tax expense, including, without limitation, taxes paid or accrued based on income, profits or capital, including state, franchise and similar taxes and foreign withholding taxes	  	$	             	 
						
		  		  		  		  	plus	  			
						
		  		  		  	(C)	  	depreciation and amortization (including, without limitation, amortization of goodwill and other intangible assets)	  	$	             	 
						
		  		  		  		  	plus	  			
						
		  		  		  	(D)	  	extraordinary losses and non-recurring non-cash charges and expenses	  	$	             	 
						
		  		  		  		  	plus	  			
						
		  		  		  	(E)	  	all other non-cash charges, expenses and interest (including, without limitation, any non-cash losses in respect of Hedge Agreements, non-cash impairment charges, non-cash valuation charges for stock option grants or vesting of restricted stock awards or any other
non-cash compensation charges and losses from the early extinguishment of Indebtedness)	  	$	             	 
						
		  		  		  		  	plus	  			
						
		  		  		  	(F)	  	non-recurring integration costs and expenses resulting from operational changes and improvements (including, without limitation, severance costs and business optimization expenses)	  	$	             	 
						
		  		  		  		  	plus	  			
						
		  		  		  	(G)	  	non-recurring charges and expenses, restructuring charges, transaction expenses (including, without limitation, transaction expenses incurred in connection with any merger or acquisition) and
underwriters’ fees, and severance and retention payments in connection	  			

  
 E-7 

Form of Performance Certificate 

													
						
		  		  		  		  	with any merger or acquisition, in each case for such period	  	$	             	 
						
		  		  		  		  	less	  			
						
		  		  		  	(H)	  	extraordinary gains and cash payments (not otherwise deducted in determining Net Income) made during such period with respect to non-cash charges that were added back in a prior period	  	$	             	 
						
		  		  		  		  	SUBTOTAL for (b):	  	$	             	 
						
		  		  		  		  	 TOTAL BORROWER LEVERAGE RATIO (line (a) divided by line (b)) =
	  	 	        : 1.00	 
						
		  		  		  		  	 Maximum ratio permitted for applicable period =
	  	 	6.00: 1.00	 

 ARTICLE 15 - 

  
 E-8 

Form of Performance Certificate 

 EXHIBIT F 

ASSIGNMENT AND ASSUMPTION 

This Assignment and Assumption (this “Assignment and Assumption”) is dated as of the Effective Date set forth below and is
entered into by and between [the][each]1 Assignor identified in item 1 below ([the][each, an] “Assignor”) and [the][each]2
Assignee identified in item 2 below ([the][each, an] “Assignee”). [It is understood and agreed that the rights and obligations of [the Assignors][the Assignees]3 hereunder are
several and not joint.]4 Capitalized terms used but not defined herein shall have the meanings given to them in the Term Loan Agreement identified below (the “Term Loan
Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this
Assignment and Assumption as if set forth herein in full. 
 For an agreed consideration, [the][each] Assignor hereby irrevocably sells and
assigns to [the Assignee][the respective Assignees], and [the][each] Assignee hereby irrevocably purchases and assumes from [the Assignor][the respective Assignors], subject to and in accordance with the Standard Terms and Conditions and the Term
Loan Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below (i) all of [the Assignor’s][the respective Assignors’] rights and obligations in [its capacity as a Lender][their respective
capacities as Lenders] under the Term Loan Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of such outstanding rights and obligations of
[the Assignor][the respective Assignors] under the respective facilities identified below and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of [the Assignor (in its
capacity as a Lender)][the respective Assignors (in their respective capacities as Lenders)] against any Person, whether known or unknown, arising under or in connection with the Term Loan Agreement, any other documents or instruments delivered
pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in
equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned by [the][any] Assignor to [the][any] Assignee pursuant to clauses (i) and (ii) above being referred
to herein collectively as [the][an] “Assigned Interest”). Each such sale and assignment is without recourse to [the][any] Assignor and, except as expressly provided in this Assignment and Assumption, without representation or
warranty by [the][any] Assignor. 
  

	1 	 For bracketed language here and elsewhere in this form relating to the Assignor(s), if the assignment is from a
single Assignor, choose the first bracketed language. If the assignment is from multiple Assignors, choose the second bracketed language. 

	2 	 For bracketed language here and elsewhere in this form relating to the Assignee(s), if the assignment is to a
single Assignee, choose the first bracketed language. If the assignment is to multiple Assignees, choose the second bracketed language. 

	3 	 Select as appropriate. 

	4 	 Include bracketed language if there are either multiple Assignors or multiple Assignees. 

  
 F-1 

Form of Assignment and Assumption 

							
	1.	 	Assignor[s]:	  	  
	  	
				
		 		  	  
	  	
				
	2.	 	Assignee[s]:	  	  
	  	
				
		 		  	  
	  	
		
		 	[for each Assignee, indicate [Affiliate][Approved Fund] of [identify Lender]]
				
	3.	 	Borrower(s):	  	  
	  	

  

	4.	 Administrative Agent: Toronto Dominion (Texas) LLC, as the administrative agent under the Term Loan
Agreement 

  

	5.	 Term Loan Agreement: Term Loan Agreement, dated as of
                    , 2020 among American Tower Corporation, the Lenders from time to time party thereto, and Toronto Dominion (Texas) LLC, as
Administrative Agent 

  

	6.	 Assigned Interest[s]: 

 

																					
	Assignor[s]5	 	Assignee[s]6	 	 	Aggregate
Amount of
Loans
for all Lenders7	 	 	Amount
of
Loans
Assigned	 	 	Percentage
Assigned of
Loans8	 	 	CUSIP
Number	 
		 				 	$	             	 	 	$	             	 	 	 	    	% 	 			
		 				 	$	             	 	 	$	             	 	 	 	    	% 	 			
		 				 	$	             	 	 	$	             	 	 	 	    	% 	 			

  

	[7.	 Trade Date:
                    ]9 

 

	5 	 List each Assignor, as appropriate. 

	6 	 List each Assignee, as appropriate. 

	7 	 Amounts in this column and in the column immediately to the right to be adjusted by the counterparties to take
into account any payments or prepayments made between the Trade Date and the Effective Date. 

	8 	 Set forth, to at least 9 decimals, as a percentage of the Loans of all Lenders thereunder.

	9 	 To be completed if the Assignor and the Assignee intend that the minimum assignment amount is to be determined
as of the Trade Date. 

  
 F-2 

Form of Assignment and Assumption 

 Effective Date:
                    , 20     [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF
TRANSFER IN THE REGISTER THEREFOR.] 
 The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

			
	ASSIGNOR
	[NAME OF ASSIGNOR]
		
	By:	 	  

		 	Title:
	
	ASSIGNEE
	[NAME OF ASSIGNEE]
		
	By:	 	  

		 	Title:

  

			
	[Consented to and]10 Accepted:
	
	Toronto Dominion (Texas) LLC, as Administrative Agent
		
	By:	 	  

		 	Title:
	
	[Consented to:]11
		
	By:	 	  

		 	Title:

  

	10 	 To be added only if the consent of the Administrative Agent is required by the terms of the Term Loan
Agreement. 

	11 	 To be added only if the consent of the Borrower and/or other parties is required by the terms of the Term Loan
Agreement. 

  
 F-2 

Form of Assignment and Assumption 

 ANNEX 1 TO ASSIGNMENT AND ASSUMPTION 

STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ASSUMPTION 
 1.
Representations and Warranties. 
 1.1. Assignor. [The][Each] Assignor (a) represents and warrants that (i) it is
the legal and beneficial owner of [the][[the relevant] Assigned Interest, (ii) [the][such] Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action
necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in
connection with the Term Loan Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition
of the Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of
their respective obligations under any Loan Document. 
 1.2. Assignee. [The][Each] Assignee (a) represents and warrants that
(i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Term Loan Agreement,
(ii) it meets all the requirements to be an assignee under Section 11.4(b)(i), (iii) and (iv) of the Term Loan Agreement (subject to such consents, if any, as may be required under
Section 11.4(b)(iii) of the Term Loan Agreement), (iii) from and after the Effective Date, it shall be bound by the provisions of the Term Loan Agreement as a Lender thereunder and, to the extent of [the][the relevant]
Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect to decisions to acquire assets of the type represented by [the][such] Assigned Interest and either it, or the Person exercising
discretion in making its decision to acquire [the][such] Assigned Interest, is experienced in acquiring assets of such type, (v) it has received a copy of the Term Loan Agreement, and has received or has been accorded the opportunity to receive
copies of the most recent financial statements delivered pursuant to Section      thereof, as applicable, and such other documents and information as it deems appropriate to make its own credit analysis and decision to enter into
this Assignment and Assumption and to purchase [the][such] Assigned Interest, (vi) it 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 Assignment and Assumption and to purchase [the][such] Assigned Interest, and (vii) if it is a Foreign Lender, attached hereto is any documentation required to be
delivered by it pursuant to the terms of the Term Loan Agreement, duly completed and executed by [the][such] Assignee; and (b) agrees that (i) it will, independently and without reliance upon the Administrative Agent, [the][any] Assignor
or any other Lender, and based on such documents and information as it shall deem appropriate at 

  
 F-3 

Form of Assignment and Assumption 

 
the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations
which by the terms of the Loan Documents are required to be performed by it as a Lender. 
 2. Payments. From and after the Effective
Date, the Administrative Agent shall make all payments in respect of [the][each] Assigned Interest (including payments of principal, interest, fees and other amounts) to [the][the relevant] Assignor for amounts which have accrued to but excluding
the Effective Date and to [the][the relevant] Assignee for amounts which have accrued from and after the Effective Date. 
 3. General
Provisions. This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which
together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment and Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This
Assignment and Assumption shall be governed by, and construed in accordance with, the law of the State of New York. 

  
 F-4 

Form of Assignment and Assumptionzmtp_ex1019

 

Exhibit 10.19

 

CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT
BECAUSE IT IS BOTH (I) NOT MATERIAL TO THE REGISTRANT AND (II)
WOULD BE COMPETITIVELY HARMFUL TO THE REGISTRANT IF PUBLICLY
DISCLOSED. REDACTED PORTIONS OF THIS EXHIBIT ARE MARKED BY
[***].

 

 

LICENSE AGREEMENT

 

This
License Agreement (together with the Schedules attached hereto, the
“Agreement”) dated as of
March 27, 2020 (the “Effective Date”) is
entered into by and between Zoom Telephonics, Inc.
(“Zoom”), and its wholly
owned subsidiary, MTRLC LLC (“MTRLC”), Delaware
entities
with a place of business at 225 Franklin Street, Boston,
Massachusetts 02110 (collectively “Licensee,” and Zoom and
MTRLC agree to be jointly and severally bound hereunder), on the
one hand, and Motorola Mobility LLC, a Delaware limited liability
company, with a place of business at 222 W. Merchandise Mart Plaza,
Suite 1800, Chicago, Illinois 60654 (“Licensor”), on the
other.

 

WHEREAS, Licensee
desires to utilize the Licensed Marks for commercial purposes in
accordance with the terms and conditions of this
Agreement.

 

NOW,
THEREFORE, in consideration of the mutual covenants and conditions
set forth herein, and for other good and valuable consideration
(the receipt and sufficiency of which are hereby acknowledged),
Licensee and Licensor (each, a “Party,” and collectively,
the “Parties”) agree as
follows:

 

1. DEFINITIONS. For the purposes
of this Agreement, the following terms shall have the meanings
stated:

 

(a) “Accessory(ies)” shall
mean accessory products that are designed and manufactured to be
compatible with, modify (for enhanced user experience) and/or
otherwise be used in connection with certain Motorola
Devices.

 

(b) “Affiliate” shall mean any
corporation or other incorporated legal entity, present or future,
which directly or indirectly controls or is controlled by, or is
under common control with, a Party to this Agreement, through
ownership or control of twenty-five percent (25%) or greater of the
voting power of the shares or other means of ownership control, for
as long as such ownership or control continues to
exist.

 

(c) “Approved Samples” shall
mean Product samples for which Licensor or its designee(s) have
provided all required approvals pursuant to Section 4 and Schedule 7.

 

(d) “Authorized Channels”
shall mean the channels of trade identified as “Authorized
Channels” on Schedule 1.

 

(e) “Authorized Service
Provider(s)” shall mean those third-party service
provider(s) for  which Licensor provides
its advance written approval (not to be unreasonably withheld) and
that are identified as “Authorized Service Provider(s)”
on Schedule 10, which may be updated from time to time by written
agreement of the Parties.

 

(f) “Business Day” shall mean
any day on which commercial banks chartered by the United States
Comptroller of the Currency and headquartered in Chicago, Illinois
are required by law to be open to accept deposits.

 

(g) “Contract Year” shall have
the meaning set forth on Schedule 1.

 

(h) “Defective Rate” shall
mean the rate(s) corresponding to each Licensed Article identified
as the “Defective Rate(s)” on Schedule 7.

 

 

 

1

 

 

 

 

(i) “Distributor(s)” shall
mean the Person(s) whose primary business is buying and/or
representing (as a sales agent) products in volume for sale to
retailers, Internet Service Providers, or other resellers. For the
avoidance of doubt, Distributors include value-added resellers,
system integrators, agents and installers.

 

(j) “Earned Royalties” shall
mean the royalties earned by Licensor under this Agreement which
shall be calculated by the formula(e) identified as “Earned
Royalty(ies)” on Schedule 4.

 

(k) “Ethical Standards” shall
mean the standards and policy set forth on Schedule 12.

 

(l) “Existing Licenses” shall
mean any license agreements that are identified as “Existing
Licenses” on Schedule 1.

 

(m) “Excluded Channels” shall
mean the channels of trade identified as “Excluded
Channels” on Schedule 1.

 

(n) “Global Defective Rate”
shall mean the rate(s) corresponding to each Licensed Article
identified as the “Global Defective Rate(s)” on
Schedule
7.

 

(o) “Guarantor” shall mean any
Licensee Affiliate(s) or other Person(s) identified as
“Guarantor(s”) on Schedule 14.

 

(p) “Guaranteed Minimum
Royalty(ies)” shall mean those amounts identified as
“Guaranteed Minimum Royalty(ies)” on Schedule 3.

 

(q) “Intellectual Property
Rights” shall mean any and all patents (and
applications therefor), trademarks (and applications therefor),
trade names, trade dress, logos, slogans, domain names, social
media accounts and handles therefor, service marks (and other
commercial product or service designations), mask works,
copyrights, moral rights, trade secrets and other confidential
business information (including technical information), other
intellectual property rights or proprietary rights, ideas,
concepts, know how, techniques, inventions, discoveries,
improvements, documents, products, systems, practices, procedures,
means, methods, designs, devices, programs, sui generis database rights, software,
databases and data (whether in tangible or intangible form and
whether or not stored, compiled or memorialized physically,
electronically, graphically, photographically or in writing),
together with all ideas, concepts, means, methods, designs,
devices, programs, software, drawings, sketches and any other
intellectual property or proprietary right recognized or
protectable by any jurisdiction in the world, together with all
registrations and applications for any of the foregoing and all
goodwill associated with any of the foregoing. “Intellectual
Property Rights” includes, but is not limited to, subject
matter that falls within the definition of patentable subject
matter under the laws of the U.S. or any other jurisdiction or
within the definition of copyrightable materials under the laws of
the U.S. or any other jurisdiction.

 

(r) “Internet Service
Provider(s)” shall mean Person(s) that are engaged in
the provision of broadband internet services to residential
consumers (e.g., Comcast, Cox, AT&T, Verizon,
etc.).

 

(s) “Licensed Article(s)”
shall mean the product(s) or Services identified as “Licensed
Articles” on Schedule 1. The definition of
“Licensed Article(s)” expressly excludes any product or
service whose Primary Purpose is not that of a Licensed Article.
Any functionality not expressly included in the definition of a
Licensed Article shall require the prior written approval of
Licensor.

 

(t) “Licensed Domain Name(s)”
shall mean the domain names identified as “Licensed Domain
Names” on Schedule
1.

 

(u) “Licensed Mark(s)” shall
mean the Primary Marks and the Secondary Marks.

 

 

 

2

 

 

 

 

(v) “Licensed Social Media
Account(s)” shall mean the social media accounts and
handles therefor identified as “Licensed Social Media
Accounts” on Schedule 1.

 

(w) “Manufacturer Approval
Agreement” shall mean an agreement following the form
in Schedule 2,
unless otherwise authorized in writing by Licensor.

 

(x) “Motorola Devices” shall
mean devices designed, developed, manufactured and/or sold by
Licensor.

 

(y) “Net Sales” for hardware
Products shall mean the aggregate gross receipts (the gross invoice
amount(s) billed by Licensee or its Affiliates to Retailers,
Distributors, Internet Service Providers, consumers, or any other
Person for the sale or provision of the Products (including taxes
and other governmental charges), less [***]. Beginning [***], in
the event that returns and credits exceed [***] of such Net Sales,
after excluding returns for which no problem has been found,
Licensee shall: (i) provide written notice to Licensor that
explains the basis for such [***], and (ii) prepare an action plan
to be approved by Licensor in its reasonable discretion to decrease
such [***]. “Net Sales” for Services shall mean the
aggregate gross receipts realized by Licensee (and any Authorized
Service Providers) in connection with the sale or provision of the
Services (excluding [***]) either directly or indirectly to the end
user, less [***].

 

(z) “Operations Review(s)”
shall have the meaning set forth on Schedule 9.

 

(aa) “Payment
Report” shall mean a statement in the form set forth
on Schedule 5,
which is to be provided by Licensee to Licensor as provided in this
Agreement.

 

(bb) “Payment
Report Certification” shall mean a statement in the
form set forth on Schedule
6, which is to be provided by Licensee to Licensor as
provided in this Agreement.

 

(cc) “Permitted
Manufacturer(s)” shall mean those third-party
manufacturer(s) that: (i) pass Licensor’s factory
qualification audits and certification procedures and for which
Licensor provides its advance written approval; (ii) have entered
into a binding Manufacturer Approval Agreement with Licensee; and
(iii) are identified as “Permitted Manufacturer(s)” on
Schedule 1, which
may be updated from time to time by written agreement of the
Parties.

 

(dd) “Person(s)”
shall mean an individual or a limited liability company,
corporation, partnership, trust, unincorporated organization,
association or other entity.

 

(ee) “Premium”
shall mean any article used for the purpose of publicizing or
increasing the sale or promotion of any product or service,
including without limitation incentives for sales forces and
incentives for the trade.

 

(ff) “Press
Release(s)” shall mean any press release(s), blog
post(s), statement(s), or other communications distributed via any
medium to members of the public, the press, the relevant trade, or
to Licensor’s competitors.

 

(gg) “Press
Release Guidelines” shall mean such guidelines
pertaining to the content, substance, and issuance of Press
Releases as Licensor may institute in its sole discretion and
provide to Licensee in writing from time to time.

 

(hh) “Primary
Marks” shall mean the trademarks identified as
“Primary Marks” on Schedule 1.

 

(ii) “Primary
Purpose” shall mean the primary intended use of a
product, as determined by Licensor in its reasonable
discretion.

 

 

 

3

 

 

 

 

(jj) “Product(s)”
shall mean Licensed Articles bearing, sold or offered under any of
the Licensed Marks and all related packaging and
cartons.

 

(kk) “Product
Cost” shall mean all of Licensee’s documented
and reasonably substantiated costs relating to the manufacture,
including royalties, shipping, delivery, packaging and provision
for after-sales support and related expenses and provision for
warranty returns.

 

(ll) “Product
IP” shall mean all Intellectual Property embodied in
or relating to the Products or their manufacture, distribution or
provision, including without limitation the Licensed Marks, the
Licensed Domain Names, the Product Literature, Product Materials,
and the Product Tooling and Design Materials.

 

(mm) “Product
Literature” shall mean all in-box materials (including
without limitation all Product user guides and Product warranty
statements), terms of use, and any other materials used in
conjunction with the Product packaging, including without
limitation Product packaging overlays.

 

(nn) ““Product
Material(s)” shall mean all content, advertising and
marketing material, publicity and promotional material, sell
sheets, sales and trade literature, web sites, signs, catalogs,
Press Releases, point of sale materials, Product brochures, and any
other material bearing or making reference to the Licensed Marks
and/or the Products, including without limitation all content
associated with the Licensed Domain Names and Licensed Social Media
Accounts.

 

(oo) “Product
Tooling and Design Material(s)” shall mean all Product
look and feel, model numbers, designs, schematics, specifications,
software code, drawings, tooling and molds.

 

(pp) “Program”
shall mean the program pursuant to which Licensor or its Affiliates
use, or grant licenses to licensees to use, the Licensed Marks
(and/or any other trademarks owned by or licensed to Licensor or
its Affiliates) to design, manufacture, promote, market and/or sell
Accessories, including licensor’s “M4DE Motorola and
“Moto Mods” licensing programs, and their
successors.

 

(qq) “Required
Advertising Expenditures” shall have the meaning set
forth on Schedule
9.

 

(rr) “Retailer(s)”
shall mean the Person(s) who sell to consumers including brick and
mortar retailers, E-commerce/E-tail retailers, and companies
providing automated retail services via kiosks.

 

(ss) “Royalty
Rate(s)” shall mean the rates identified as
“Royalty Rate(s)” identified on Schedule 4.

 

(tt) “Secondary
Marks” shall mean the trademarks identified as
“Secondary Marks” on Schedule 1.

 

(uu) “Services”
shall mean the service(s) as identified on Schedule 1, which may or may
not be offered or provided under the Licensed Marks, as determined
by Licensor in its reasonable discretion.

 

(vv) “Setup
Fee” shall mean a one-time, non-refundable license
set-up and administration fee in the amount identified as the
“Setup Fee” on Schedule 4. For the avoidance
of any doubt, the Setup Fee is not a Royalty Payment, and shall not
count against any Minimum Sales or be creditable against any
Guaranteed Minimum Royalties.

 

(ww) “Style
Guide” shall mean the style guide attached hereto as
Schedule 8, which
may be updated by Licensor from time to time in its reasonable
discretion upon notice to Licensee.

 

 

 

4

 

 

 

 

(xx) “Trademark
Attribution Statement” shall mean the trademark
attribution statement specified in the Style Guide to be used on
Product Literature, which may be updated by Licensor from time to
time in its reasonable discretion upon notice to
Licensee.

 

(yy) “Trademark
Attribution Statement for Collateral” shall mean the
trademark attribution statement specified in the Style Guide to be
used with all Product Materials, which may be updated by Licensor
from time to time in its reasonable discretion upon notice to
Licensee.

 

(zz) “Term”
shall have the meaning set forth on Schedule 1.

 

(aa) “Termination”
shall mean the earlier to occur of (i) the last calendar day of the
Term, or (ii) the termination of this Agreement pursuant to
Section
9.

 

(bb) “Territory”
shall mean the jurisdiction(s) that are set forth on Schedule 1.

 

2. GRANT OF LICENSE.

 

(a) Grant. Subject to all of the
terms and conditions set forth in this Agreement, including,
without limitation, Licensor’s timely receipt of all payments
due under this Agreement, as well as Licensee’s strict
compliance with all of this Agreement’s quality control
provisions, and subject to any Existing Licenses, Licensor hereby
grants to Licensee the limited and non-transferable, exclusive (in the manner set forth in
Schedule 1) right
and license to: (i) utilize the Licensed Marks to source,
manufacture, package and provide the Products as specifically
authorized in this Agreement; (ii) utilize the Licensed Marks to
offer, provide and render the Services that have been specifically
authorized by Licensor in writing to be branded under the Licensed
Marks (the “Authorized Services”);
(iii) utilize the Licensed Marks (and the Licensed Domain Names and
Licensed Social Media Accounts, if applicable) to distribute,
promote, advertise, service, offer, provide and sell Products and
Authorized Services to and through Retailers, Distributors,
Internet Service Providers, and consumers in the Territory through
the Authorized Channels; and (iv) grant to Retailers, Distributors,
and Internet Service Providers the right to resell such Products
and Authorized Services in the Territory through the Authorized
Channels. All rights granted herein are exclusive in the manner
specified in Schedule
1.

 

(b) Sublicenses. Licensee may not
sublicense or subcontract any of the rights granted to it under
this Agreement unless specifically permitted herein or otherwise
permitted in writing by Licensor. Licensee shall be responsible for
taking all necessary actions to remedy any unauthorized actions or
omissions by any of its Retailers, Distributors, Internet Service
Providers, Permitted Manufacturers, Authorized Service Providers or
any unauthorized subcontractors, vendors or
sublicensees.

 

(c) Rights Reserved by Licensor.
All rights not expressly granted herein are reserved by Licensor.
Except as may be specifically provided to Licensee in Section 2(a) and Schedule 1, Licensor shall be
permitted to use and license the use of any or all of the Licensed
Marks in any manner whatsoever. Notwithstanding any other provision
in this Agreement (including without limitation the Schedules
attached hereto and incorporated by reference herein), nothing in
this Agreement shall limit or prevent Licensor and/or its
Affiliates from using or licensing (or their respective third-party
licensees from using) the Licensed Marks, or any other trademarks
owned by or licensed to Licensor or its Affiliates, in connection
with the Program, regardless of whether any Accessories under the
Program have the same or similar functionality as any of the
Licensed Articles.

 

(d) Sales Force, E-Commerce, and Active
Licensee. Licensee shall employ, or otherwise engage, a
commercially reasonable number of representatives whose primary
responsibility shall be the development, merchandising and
marketing of the Products and Services. Additionally, Licensee
shall also maintain a commercially reasonable sales force devoted
to the promotion and marketing of the Products to Retailers,
Distributors, and Internet Service Providers, through the
Authorized Channels. As between Licensee and Licensor, Licensee
shall be solely responsible for the payment and provision of any
and all salaries, commissions and any other payments or benefits to
any sales representatives or other Persons engaged by Licensee to
assist in the promotion and sale of the Products and Services.
Licensee shall participate in the e-commerce portion of
Licensor’s web site(s), and Licensee agrees to designate an
employee to oversee, coordinate, and facilitate Licensee’s
participation and to enter into any other agreements reasonably
requested by Licensor related to Licensee’s participation.
Licensee shall use commercially reasonable efforts to actively
exploit the rights granted to it under this Agreement. In the event
that Licensee does not take commercially reasonable steps toward
such exploitation, Licensor may in its reasonable discretion after
consultation with Licensee, remove non-exploited Licensed Articles
from the definition of Licensed Articles and/or remove
non-exploited jurisdiction(s) from the definition of the Territory
for the remainder of the Term upon delivery of written notice to
Licensee. In the case that a jurisdiction and/or products are
removed from the Territory, Licensee shall receive a credit from
Licensor equal to the amount of Guaranteed Minimum Royalties paid
by the replacement licensee (if any) that are associated with that
jurisdiction and/or products for the remainder of the Term of this
License.

 

 

 

5

 

 

 

 

(e) Manufacture of the Products.
Except as may otherwise be specifically permitted on Schedule 1, Licensee shall not
engage any subcontractors other than Permitted
Manufacturers and/or
Authorized Service Providers to manufacture or provide the
Products, or to provide any post-sales, return, repair, customer
support, or warranty services relating to the Products. Licensee
agrees that it shall be responsible for the costs of any factory or
service provider qualification audits and agrees to promptly
reimburse Licensor upon receipt of an invoice for Licensor’s
costs in auditing and reviewing any proposed Permitted Manufacturer
and/or Authorized Service Provider. As a precondition to approval,
all proposed Permitted Manufacturers must enter into the
Manufacturer Approval Agreement with Licensee, and Licensee shall
promptly facilitate the full execution of such agreement. After
consultation with Licensee, Licensor may withdraw its approval of
any Permitted Manufacturer or Authorized Service Provider at any
time and in its reasonable discretion upon written notice to
Licensee, which shall specify an effective date of such withdrawal
that is commensurate with the severity of the underlying issue that
caused such withdrawal. Notwithstanding anything herein or in the
Manufacturer Approval Agreement to the contrary, Licensee shall be
responsible to Licensor for any breach of this Agreement or the
Manufacturer Approval Agreement. Licensor may for reasonable cause,
and at Licensee’s sole expense, require Licensee to stop
shipments and provision of the Products if such Products are from
an unauthorized source.

 

(f) Limitations on License. Unless
otherwise specifically approved in advance in writing by Licensor,
this Agreement does not grant Licensee the right or license (or the
right to confer upon any other Person the right or license) to: (i)
use any of the Licensed Marks as a part of a corporate or trade
name; (ii) grant any security interest in or to the Licensed Marks
or this Agreement; (iii) confer upon or any other Person the right
to distribute, offer, provide or sell the Products outside of the
Territory; (iv) apply to or use, or confer upon any other Person
the right to apply to or use, any of the Licensed Marks in
connection with any goods or services other than the Licensed
Articles, except as specifically authorized in advance in writing
by Licensor; (v) grant any right in or to the Licensed Marks to any
Person other than Licensee, except as may be expressly granted
herein; (vi) register or seek to register any trademark, service
mark, domain name, social media account or handle therefor, logo,
business name, on-line social networking or media user name or
other designation of origin comprised in whole or in part of, or
otherwise confusingly similar to, any of the Licensed Marks; (vii)
co-brand, sub-brand, or otherwise use the Licensed Marks in
connection with any other trademark, trade name, domain name,
social media account or handle therefor, model name, model
designation, alphanumeric model number, lot number, or other
designation of origin. Licensor hereby approves the use of MINIM as
an endorser brand in connection with Licensed Marks, e.g.
“MotoManage by Minim”; (viii) directly or indirectly
source, manufacture, package, distribute, offer, provide or sell
the Products to any Person other than to Retailers, Distributors,
Internet Service Providers, and consumers in the Territory through
the Authorized Channels; (ix) liquidate any Products; (x) directly
or indirectly distribute, offer, provide or sell the Products
through the Excluded Channels; or (xi) distribute any Products to
be used as Premiums, in combination sales, in bundles, as
giveaways, or to be disposed of under similar methods of
merchandising. Licensee acknowledges and agrees that all rights to
license the Licensed Marks, the Product IP and the Products remain,
as between Licensee and Licensor, wholly owned by Licensor.
Licensee shall neither acquire nor confer any right(s), license(s)
or sublicense(s) to the Licensed Marks, the Product IP, or to any
other Intellectual Property owned by or licensed to Licensor or any
of its Affiliates except as may be expressly granted in this
Agreement, and all rights not expressly granted hereunder are
reserved by Licensor, its Affiliates and their respective
licensors.

 

(g) Non-Circumvention.                                            Licensee
acknowledges that Licensor has granted Licensee a reduced royalty
rate for sales to Internet Service Providers, and for sales in
certain countries within the Territory. In return for such reduced
royalty rate, neither Licensee nor any of its Affiliates
shall:

 

(i) encourage, promote
or otherwise advocate for the removal of the Licensed Mark from
Products sold to customers;

 

(ii) remove
the Licensed Mark from Products for purposes of evading or
attempting to avoid the payment of Royalties; and

 

 

 

6

 

 

 

 

(iii) manufacture,
import, distribute, offer, sell, advertise, market or otherwise
promote any Licensed Articles bearing, offered, or sold under any
trademarks other than the Licensed Marks, that (a) feature the same
substantially similar overall look and feel as the Products; (b)
have the same substantially similar functionality as the Products;
or (c) are based in whole or part on the Products; unless Licensee
pays a Royalty on the sale of such Products summarized in iii a, b,
and c; provided that the foregoing royalty payment obligation shall
not apply to any product (w) where the hardware is custom-designed
for a company (x) that uses such company’s own brand, (y) a
housing/case design exclusively owned by that company, and (z) such
hardware is not sold or otherwise made available through any
channel other than those owned by the customer.

 

The
foregoing limitation is in addition to, and does not limit, any
other restriction(s) in this Agreement relating to Licensee’s
use of the Product IP during or after the Term.

 

(h) Third-Party Licenses, Royalties and
Fees. Without limiting the generality of any provision
herein, Licensee shall have the sole responsibility to obtain and
maintain, at its sole expense, all necessary licenses, third-party
rights and agreements relating directly or indirectly to any trade
secret, patented or patentable method or technology, trademark,
copyrighted work or other Intellectual Property or proprietary
right embodied in the Products, any specifications or tooling
therefor, or any functionalities, models, samples, demos or
prototypes thereof. Licensee shall timely pay all license fees,
royalties, and/or other fees and expenses required to maintain such
licenses, rights and agreements, including without limitation any
payments or fees owed by Licensee to Licensor pursuant to this
Agreement, as well as any third-party royalty payments or fees
agreed to by Licensor as a part of settlements relating to the
Licensed Articles. If Licensee fails to timely pay all such license
fees, royalties, and/or other fees and expenses to any Person,
Licensor shall have the right (but not the obligation) to pay such
past due license fees, royalties, and/or other fees and expenses
(together with any associated late fees or penalties) directly to
the Person to whom such payments are owed, and to directly invoice
Licensee for, and to take any other steps necessary to collect, any
such amounts from Licensee, together with all of Licensor’s
attorneys’ fees and other costs incurred in enforcing this
Section 2(h) and
collecting any amounts due hereunder.

 

(i) Freight and Duty. As between
Licensee and Licensor, Licensee shall be solely responsible for all
freight costs, taxes, fees charges and expenses associated with
manufacturing, packaging, sourcing, offering, providing, importing
and/or shipping Products, as well as all costs associated with
warehousing the Products, storage and operational costs relating to
warehousing the Products, cross-docking fees and all other such
charges relating to the Products.

 

(j) Recycling, Waste and Other
Compliance. As further set forth in Section 13(b) of this
Agreement, Licensee shall be responsible for complying with all
applicable federal, state, provincial and local laws, treaties and
regulations, including all waste, recycling, energy and disposal
laws and regulations. Licensee shall be responsible for all
reporting, registration and costs associated with complying with
all applicable waste, recycling, energy and disposal federal,
state, provincial and local laws, treaties and regulations relating
to the Products. Licensee acknowledges that there may be some
instances where Licensor is required to, or it is more cost
efficient for Licensor to, register and report on behalf of its
licensee(s) to comply with any applicable federal, state or other
recycling, waste, energy or disposal program mandated by federal,
state, provincial or local laws, treaties or regulations. In the
event Licensor determines, in its reasonable discretion, to
undertake any such registration or reports, Licensee agrees that it
shall (i) fully cooperate with Licensor and timely provide to
Licensor all necessary information in order to comply with such
laws and regulations, and (ii) upon receipt of any invoices, pay to
Licensor Licensee’s pro
rata share, as determined by Licensor, of all
Licensor’s costs and expenses relating to recycling, waste,
energy and disposal compliance, registration, reporting and other
charges related thereto.

 

 

 

7

 

 

 

 

3. PAYMENTS AND
REPORTS.

 

(a) Setup Fee. Within [***] after
the Effective Date, Licensee shall pay Licensor the Setup Fee by
delivering immediately available funds in accordance with the
electronic payment instructions set forth in Schedule 4.

 

(b) Guaranteed Minimum Royalties.
During the Term of this Agreement, Licensee shall timely pay
Licensor the Guaranteed Minimum Royalties as provided in
Schedule 3 by
delivering immediately available funds in accordance with the
electronic payment instructions set forth in Schedule 4.

 

(c) Earned Royalties. Licensee
shall timely pay to Licensor Earned Royalties during the Term of
this Agreement and during any permitted Sell-off Period (as defined
in Section 10(a)
herein). Licensee shall pay the greater of (i) the applicable
Guaranteed Minimum Royalty, or (ii) the actual Earned Royalties
earned in each Contract Year. The Guaranteed Minimum Royalty
payments are to be made retrospectively on a quarterly basis during
each Contract Year, and shall be credited against the Earned
Royalties accrued and paid in arrears in each quarter during such
Contract Year; provided,
however that the Guaranteed Minimum Royalty(ies) may not be
credited against Earned Royalties generated by virtue of Product
sales made during any Sell-Off Period. The Guaranteed Minimum
Royalty(ies) payable during each Contract Year shall be credited
against the accrued Earned Royalties during that Contract Year.
Accordingly, no Earned Royalties shall be payable following the
close of any calendar quarter unless and until the total Guaranteed
Minimum Royalty(ies) for the then-current Contract Year has been
exceeded. If and only if the total accrued Earned Royalties for the
then-current Contract Year exceed the total Guaranteed Minimum
Royalty(ies) for the then-current Contract Year, then Licensee
shall on a quarterly basis pay the amount by which the Earned
Royalties accrued during the then-current Contract Year have
exceeded the total Guaranteed Minimum Royalt(ies) for the
then-current Contract Year. Under no circumstances shall any
portion of the Guaranteed Minimum Royalties be refundable to
Licensee; however, Licensor and Licensee may mutually agree to
apply credits against the Guaranteed Minimum Royalties that will
lower the Guaranteed Minimum Royalties. The obligation to pay
royalties shall accrue upon the sale of the Product, which shall be
deemed to occur when the Product is billed, invoiced, shipped, or
paid, whichever is earlier. The obligation to pay royalties exists
regardless of when Licensee receives payment, and licensee shall
not be permitted to make any deductions for uncollectible accounts.
The obligation of Licensee to pay the Guaranteed Minimum Royalties
in accordance with this Agreement shall survive the Termination of
this Agreement.

 

(d) Affiliate Sales. If Licensee
distributes, sells or provides any Licensed Articles to any of its
Affiliates, Licensee represents, warrants and covenants that (i)
such sales shall not be made for purposes of reducing the Royalty
payable due hereunder (i.e. “Arm’s Length
Transaction”), and (ii) and the price at which such
Licensed Articles are sold to or by such Affiliates shall be not
less than [***] lower than the average price charged by Licensee to
other non-Affiliate Persons of a similar class of trade. If
Licensed Articles are sold in a non-Arm’s Length Transaction,
or at a price less than the regular price charged to unaffiliated
parties, then the Royalty payable to Licensor will be computed on
the basis of the regular price charged to unaffiliated parties, or
if no non-Affiliate sales exist, the Royalty payable to Licensor
will be computed by Motorola on the basis of the average selling
price to the end user.

 

(e) [Reserved].

 

(f) Statements and Payments. On or
before the [***]following the end of each calendar quarter during
the Term and any Sell-Off Period, Licensee shall submit a full,
accurate, and detailed Payment Report including, at a minimum, the
information pertaining to the fields set forth on Schedule 5, which may be
updated from time to time by Licensor in its reasonable discretion.
Simultaneously with the provision of such Payment Report, Licensee
shall remit the Earned Royalty payment then due to Licensor by
delivering immediately available funds in accordance with the
electronic payment instructions set forth in Schedule 4. Licensee shall
obtain all necessary government approvals as may be required to
permit it to remit payments to Licensor.

 

 

 

8

 

 

 

 

(g) Quarterly Sales Reports. On or
before the [***]following the end of each quarter during the Term
and any Sell-Off Period, Licensee shall submit, in a format
provided or approved by Licensor, a statement of Net Sales and
number of units of all Products sold in each jurisdiction in the
Territory during the immediately preceding quarter, and any such
other information as may be reasonably required. Such statements
shall be certified as being true and correct by a Person authorized
to bind Licensee.

 

(h) Retailer Holdback, Chargebacks and
MDF. Licensee shall be solely responsible for all costs and
charges associated with the Products, including without limitation
all Retailer marketing development fund (MDF) programs, holdbacks,
charge backs and other costs associated with MDF programs. Unless
otherwise agreed in advance by Licensor in writing, no payments
hereunder shall be applied against the costs of any
Retailers’ MDF programs, fixtures, or other in-store displays
in connection with the Products, and Licensee shall be solely
responsible for the costs of all such MDF programs, in-store
fixturing and display costs.

 

(i) Time of Essence; Late Fees.
TIME IS OF THE ESSENCE WITH RESPECT TO ALL OF LICENSEE’S
OBLIGATIONS UNDER THIS AGREEMENT. Acceptance of any partial
payments due to Licensor under this Agreement does not waive
Licensor’s right to collect the full amount owed and other
monies due hereunder or under any other agreement. In addition to
monies due under this Agreement, Licensee shall pay to Licensor a
late payment fee for all past due amounts at a rate per year equal
to [***] above Libor (as hereinafter defined) on the last Business
Day that precedes the first day that such payment is late (or, if
such first day is not a day on which banks in London are open for
business, then on the next preceding Business Day in London) per
annum, compounded monthly until paid, or equal to the highest rate
permitted by applicable law (whichever is less). Interest shall
accrue on each unpaid amount from the first Business Day payment
becomes due through the date of payment. In addition, Licensee
shall pay to Licensor all of Licensor’s costs of collecting
and enforcing the terms and provisions of this Agreement (including
without limitation reasonable attorneys’ fees and costs). For
purposes hereof, “Libor” shall mean the
rate of interest (rounded upwards, if necessary, to the nearest one
sixteenth of one percent (1/16 of 1%) per annum) at which US dollar
deposits in immediately available funds are offered to leading
banks in the London interbank market as listed on the BBA LIBOR
section of the webpage for the British Bankers Association
(http://www.bba.org.UK), for US dollars with a twelve (12) month
maturity.

 

4. APPROVALS.

 

(a) Approval of Products. The
Products shall be designed, developed, manufactured and assembled
in strict compliance with any specifications and other instructions
that may be provided by Licensor and its designees and design
consultants. Licensee acknowledges that all Products shall
incorporate state of the art technology and form factors,
consistent with other best-in-class, tier-one manufacturers and
providers of the Licensed Articles. At Licensee’s sole expense,
Licensee must submit one or more samples, as required by Licensor
in its reasonable discretion, of proposed Products to Licensor and
its designee(s) for approval prior to commercial production (and,
for the avoidance of doubt, Licensee shall also be entitled to
develop non-commercial test or sample units during its development
process). When submitting a proposed Product for approval, Licensee
shall follow and comply with all product submission templates,
procedures, and instructions specified by Licensor and/or
identified on Schedule
7, which may be updated by Licensor from time to time in its
reasonable discretion upon written notice to Licensee. Licensor
agrees to promptly review the sample(s) and to notify Licensee of
its decision in writing to designate the sample(s) as approved or
not approved. Any and all approvals of proposed Products shall be
provided by Licensor in its reasonable discretion.

 

(b) Changes to Products. Licensee
covenants that it shall not, without the prior written approval of
Licensor, make any material changes to the Approved Samples (a
“Material
Departure”). A “Material Departure”
includes without limitation changes that have a material effect on
the form, design, features, fit, function, performance, quality,
reliability, support, warranty or service of the Approved Samples.
During its quality meetings, Licensee also shall provide Licensor
with written notice of any changes to Approved Samples that do not
constitute a Material Departure. If there is an unapproved Material
Departure from Approved Samples made or distributed by Licensee,
Licensor shall have the right to require that Licensee correct such
Material Departure upon a commercially reasonable timeline
specified by Licensor in its reasonable discretion. If Licensee
fails to do so, Licensor may in its reasonable discretion require
Licensee to immediately cease the distribution and sale of the
Products embodying the Material Departure temporarily, until such
Material Departure is corrected.

 

 

 

9

 

 

 

 

(c) Quality Assurance. Licensee
shall take all necessary actions to ensure that the Products and
Services comply in all respects with best industry practices and
with the quality approval procedures and performance metrics set
forth in this Agreement, or otherwise communicated in writing by
Licensor from time to time in its reasonable discretion. Without
limiting the generality of the foregoing, Licensee shall (i)
submit, at Licensee’s sole expense, all required samples of
Products to Licensor, or other designated Persons for ongoing
quality control purposes during the Term, and (ii) comply with the
minimum quality assurance procedures specified on Schedule 7. In addition, within
[***]following the end of each calendar month during the Term and
any Sell-Off Period, Licensee shall provide Licensor all quality
assurance reports specified on Schedule 7. Licensee
acknowledges and agrees that Licensor shall have the right to take
all actions, including the invocation of its rights under
Section 9, which it
deems necessary to ensure that Products sourced, manufactured,
offered, provided, serviced, distributed and/or sold and Services
offered, provided or rendered hereunder are consistent with the
reputation and prestige of the Licensed Marks as a designation for
quality products and services, all as determined in
Licensor’s reasonable discretion.

 

(d) Defective Return
Rate.

 

(i) Licensee shall
ensure that the actual defective return rate for each model of the
Products in every month
during the Term is maintained at or below the Defective Rate, as
measured and reported by Licensee and subject to Licensor’s
audits thereof. Notwithstanding anything herein to the contrary,
should the actual defective return rate for the total number of any
Product model distributed by Licensee in any
month during the Term exceed the Defective Rate, Licensor may upon
[***]written notice require Licensee to cease sales of the Product
temporarily, until the Product’s Defective Rate is
corrected.

 

(ii) Licensee
also shall ensure that the aggregate actual defective return rate
for all models of the Products in every month during the Term is
maintained at or below the Global Defective Rate, as measured and
reported by Licensee and subject to Licensor’s audits
thereof.

 

(iii) Upon
a Termination of this Agreement for Licensee’s breach of this
Section 4(d),
Licensee shall immediately discontinue manufacturing, assembling,
offering, providing, selling, distributing and sourcing the
Licensed Articles, shall immediately discontinue all use of the
Licensed Marks, and shall have no Sell-off Period under
Section
10(a).

 

(e) Remedial Measures. In the event
that any material quality issue arises with respect to any Product,
including without limitation breaches of this Section 4, Authorized Service
Provider(s), Permitted Manufacturer(s), suppliers, or the
manufacture, distribution, provision, service, return, repair,
customer service, or support of the Products, and/or the Defective
Rate(s) or the Global Defective Rate(s) exceed the standards set
forth in this Agreement (individually and collectively, a
“Material
Issue”), Licensor may in its reasonable discretion
require Licensee to take the remedial measures in this Section 4(e).

 

(i) Licensee shall
propose and submit to Licensor a written action plan to remediate
the Material Issue within [***]after written notification of the
Material Issue from Licensor. Licensor shall have [***]to approve
or comment upon the proposed remedial action plan. Once approved by
Licensor, Licensee shall promptly enact the remedial action plan
and cure such breach within [***]or such longer period as may be
mutually agreed by the Parties in writing, and Licensee shall bear
all costs associated therewith; and,

 

(ii) if
a Material Issue is not resolved or cured after implementing the
steps in Section
4(e)(i) above, Licensor may require Licensee to stop
production, provision and shipment of any Products, stop the
resumption of production or provision of Products, and/or direct
Licensee to recall Products affected by the Material Issue. In such
event Licensee shall take all commercially reasonable steps to
ensure that such actions take place with immediate effect, and
shall bear all costs associated with stopping the production,
provision or shipment of such Products, recalling such Products
and/or resuming production or provision of such
Products.

 

 

 

10

 

 

 

 

(f) Use of Licensed Marks. All
Products shall prominently feature one or more of the Licensed
Marks as approved by Licensor. Licensee shall use and display the
Licensed Marks only in such form and manner as conforms to the
Style Guide, and Licensee shall use such legends, markings, and
notices as Licensor may reasonably request.

 

(g) Approval
of Product Material(s) and Product Literature. Licensee shall promptly submit one or more
samples in electronic form, as required by Licensor in its
reasonable discretion, of proposed Product Materials and Product
Literature to Licensor for approval prior to their publication or
distribution. Licensor agrees to review the sample(s) within no
more than t[***], and to notify Licensee of its decision in writing
to designate the sample(s) as approved or not approved. Any and all
approvals of proposed Product Materials and Product Literature
shall be provided by Licensor in its reasonable discretion. All
advertising and promotional materials bearing the Licensed Marks or
otherwise relating to the Products or Services shall include the
Trademark Attribution Statement for Collateral set forth in the
Style Guide, or any other trademark attribution statement approved
by the parties in writing. Licensor may direct Licensee to cease
use of any Product Materials and/or Product Literature upon
[***]written notice to Licensee.
Without limiting the generality of the foregoing, Licensee shall
comply with the procedures for the approval of Product Materials
and Product Literature specified on Schedule
7, which may be updated from
time to time by Licensor in
its reasonable discretion upon written notice to Licensee. Licensor
shall own all right, title and interest in and to all Intellectual
Property Rights in and to the Product Materials and Product
Literature. If for any reason Licensor’s ownership of the
Intellectual Property Rights in and to the Product Materials and
Product Literature does not arise upon their creation, Licensee
hereby irrevocably assigns to Licensor all right, title and
interest in and to the Intellectual Property Rights in the
Product Materials and Product
Literature. Licensee shall execute any further documents as may be
required to affect such assignment(s). Notwithstanding the foregoing, Licensor agrees
that it shall not replicate the Product Materials and Product
Literature exactly as used by Licensee with any subsequent licensee
for the Licensed Articles, provided the Parties acknowledge and
agree that the Product Materials and Product Literature may be
based on Licensor’s style and branding guidelines, and other
guidelines developed by Licensor.

 

(h) Product Literature.
The Product Literature shall include
the Trademark Attribution Statement set forth in the Style Guide or
a mutually agreed alternative such as: “MOTOROLA and the Stylized M Logo
are trademarks or registered trademarks of Motorola Trademark
Holdings, LLC. and are used under license. All other trademarks are
the property of their respective owners. All rights
reserved.” The Product Literature shall state that: (i) the
Products or Services are offered, provided, and sold under license
from Licensor; (ii) Licensor does not manufacture or provide the
Products or Services; and (iii) Licensor does not provide any
warranty or support for the Products. A statement complying with
the provisions of the previous sentence is provided in the Style
Guide. The Manufacturer’s Warranty statement shall include
the following exclusion of liability statement: IN NO EVENT WILL THE
MANUFACTURER, DISTRIBUTOR, MOTOROLA MOBILITY LLC, MOTOROLA
TRADEMARK HOLDINGS,
LLC, OR THEIR PARENT ENTITIES BE LIABLE FOR ANY INCIDENTAL, DIRECT,
INDIRECT, SPECIAL, PUNITIVE OR CONSEQUENTIAL DAMAGES (SUCH AS, BUT
NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, BUSINESS, SAVINGS,
DATA OR RECORDS) RELATED TO THIS PRODUCT. EXCEPT AS STATED HEREIN,
NO OTHER WARRANTIES SHALL APPLY. In the event such disclaimer or any part thereof
is not enforceable for any reason in the Territory, then Licensee
shall bear any third-party liability imposed on Licensor in this
respect and will indemnify Licensor as further specified in
Section
15 of this
Agreement.

 

(i) Licensee Compliance with Applicable
Law. All Products shall be sourced, manufactured imported,
sold, labeled, packaged, distributed, offered, provided, serviced,
promoted and advertised and all Services shall be offered,
provided, promoted, advertised and rendered in accordance with all
applicable laws and regulations of the jurisdictions where Products
are manufactured, sourced, distributed, offered, provided and sold
or any instrumentalities or political subdivisions thereof.
Licensor’s performance under this Agreement, all Permitted
Manufacturers’ performance under the respective Manufacturer
Approval Agreements, and all Products provided to Licensee shall
comply with the Ethical Standards. In addition, Licensee shall be
responsible for obtaining any license or permit necessary for the
performance of this Agreement by Licensee and anyone acting on
Licensee’s behalf hereunder, both within and outside the
Territory.

 

 

 

11

 

 

 

 

(j) Serial Numbers. The Products
shall carry a unique identifier (e.g., a unique serial number or
date code) to distinguish them from other products offered,
provided or sold by Licensee, Licensor and/or third-party
licensees. Such unique identifiers shall be sufficient for Licensee
to fully and accurately track each Product through the distribution
chain to the end consumer, as well as in connection with all
post-sales, return, repair, customer support and other services
relating to the Products or the Manufacturer’s Warranty (as
defined herein). Licensee shall at its sole expense ensure that
Licensee as well as all OEM Manufacturers, Permitted Manufacturers
and Authorized Service Providers have implemented systems
sufficient to enable such tracking and to facilitate all reporting
to Licensor regarding the Products required under this Agreement.
Licensee shall promptly comply with the anti-counterfeit label
program relating to the Products as directed by Licensor at this
time. Without limiting the foregoing, Licensee specifically
acknowledges and agrees that it shall comply with all
confidentiality, accounting, and destruction directives and
obligations imposed by Licensor as a part of such
anti-counterfeiting program.

 

5. MARKETING
PARTICIPATION.

 

(a) Participation Pledged.
Throughout the Term, Licensee shall actively promote the provision
and sale of the Products to Retailers, Distributors, Internet
Service Providers, and consumers in the Territory through the
Authorized Channels. Licensee hereby acknowledges that the
marketing programs that may be developed by or for Licensor are for
the benefit of all licensees of Licensor and the Licensed Marks,
and that Licensee’s cooperation and support thereof are an
integral part of such program. Licensee therefore pledges its
direct and active support of any marketing program Licensor may
develop, including direct participation in sales and retailer
presentations and shows, (including the attendance of key
executives of Licensee at all presentations and shows). Licensee
agrees to actively participate in any joint sales and marketing
program that is developed by Licensor or its Affiliates for the
benefit of Licensor’s licensees and Affiliates.

 

(b) Licensee Obligations. In
accordance with Schedule 9, Licensee shall
expend any Required Advertising Expenditures and shall timely remit
to Licensor detailed reports substantiating any such expenditures.
Licensee also shall timely fulfill all other marketing obligations
set forth on Schedule
9, including without limitation participating in the annual
Operations Reviews and any specified trade shows.

 

(c) Public Announcements. Neither
Licensee, its suppliers, Permitted Manufacturers, OEM
Manufacturers, Authorized Service Providers, Retailers,
Distributors, nor any other Person acting in concert with Licensee
or on its behalf, shall issue, post, or otherwise distribute any
Press Release(s) concerning the business relationship between the
Parties, the license granted in this Agreement, or the
introduction, sales, specifications, or features of any Product or
Service without first obtaining Licensor’s prior written
approval pursuant to Section 4(g) as to the form and
content of such Press Release(s). In no event shall any proposed
Press Release be approved if it does not meet the Press Release
Guidelines. Anything to the contrary withstanding, Licensor will
not restrict Licensee from making statements required by law or by
governmental regulations.

 

(d) Products for Licensor. Licensor
may at its election purchase up to [***]of each Product directly
from Licensee at a price not to exceed [***]for the applicable
Product plus [***]to be used as Licensor reasonably
determines.

 

6. PRODUCT TOOLING AND DESIGN
MATERIALS.

 

(a) Ownership. Licensor shall own
all right, title and interest in and to all Intellectual Property
Rights in and to the Product Tooling and Design Materials, with the
exception of Product Tooling and Design Materials owned by third
party ODM’s. If for any reason Licensor’s ownership of
the Intellectual Property Rights in and to the Product Tooling and
Design Materials does not arise upon their creation, Licensee
hereby irrevocably assigns to Licensor all rights Licensee has in
and to the Intellectual Property Rights in the Product Tooling and
Design Materials. Licensee shall execute any further documents as
may be required to effect such assignment(s).

 

 

 

12

 

 

 

 

(b) Physical Tooling. Upon
Termination of this Agreement, howsoever occasioned, Licensor may
elect to purchase any physical tooling for the Products, and
Licensee shall negotiate with Licensor in good faith to facilitate
such purchase. In the event that Licensor elects not to purchase
any physical tooling for the Products following the Termination of this
Agreement, Licensee shall certify the destruction of such tooling
within [***]following the effective date of Termination, unless
otherwise directed in writing by Licensor.

 

(c) Non-Assert. Licensee
acknowledges and understands that third-party manufacturers and/or
licensees supply to Licensor product(s) that are the same or
substantially similar to the Products covered by this Agreement.
Licensee hereby covenants that neither Licensee nor any of its
Affiliates or Permitted Manufacturers shall: (i) assert, bring,
cause to be brought or threaten to bring against Licensor, its
Affiliates, licensees or customers (collectively, the
“Licensor Parties”) any claim, action or proceeding
alleging that a Licensor Party’s purchase, manufacture, use,
importation, offer to sell, sale, provision, or distribution of the
product(s) of any third-party licensee or manufacturer or any
Licensor product(s) (including without limitation product(s)
designed, assembled, or manufactured for Licensor by third parties
in connection with the Program or otherwise) (collectively, the
“Licensor Products”), infringes or misappropriates any
of Licensee’s Intellectual Property Rights; or (ii) seek to
enjoin or enjoin the supply, importation, sale, distribution, or
manufacture of any Licensor Products or those product(s) of the
Licensor Parties. Licensee’s obligations under this Section 6
shall survive the Termination of this Agreement, howsoever
occasioned, and the obligations of this Section 6 shall be binding
upon Licensee’s successors in interest, all permitted
transferees or assignees, and any exclusive licensee(s) of any of
Licensee’s Intellectual Property Rights.

 

7. PRODUCT WARRANTY;
SERVICE.

 

(a) Warranty Obligation. During the
Term of this Agreement and thereafter as set forth below and on
Schedule 10,
Licensee shall be responsible and liable for providing, either
directly or through Authorized Service Providers, all post-sales,
return, repair, customer support and other services relating to the
Products and the Manufacturer’s Warranty for such Products at
Licensee’s sole expense. The Manufacturer’s Warranty
must be approved in advance in writing by Licensor; Licensor shall
provide comments within [***]of submission.

 

(b) Manufacturer’s Warranty.
Licensee shall provide at its sole expense a limited product
warranty to the original purchaser that the Products are free from defects in materials
and workmanship in accordance with the Magnuson-Moss Warranty Act
(15 U.S.C. Sections 2301 et seq.) and the regulations issued
thereunder, as the same may be amended from time to time, and in
accordance with such other similar regulations as may be applicable
to the Products in the Territory (the “Manufacturer’s
Warranty”). Licensee shall be solely responsible for
providing, either directly or through Authorized Service Providers,
any post-sales, return, repair, customer support and other services
relating to the Products or the Manufacturer’s Warranty at
Licensee’s sole expense, including without limitation any
costs relating to (if applicable) transportation costs, Product
replacement, service labor, field repair, refunds, returns, and
other customer and Retailer concessions to ensure each
customer’s satisfaction for the duration of the applicable
Manufacturer’s Warranty period. In addition, Licensee shall
offer, either directly or through Authorized Service Providers,
repair, replacement, customer support and other services relating
to the Products for a period of not less than [***]after the
duration of the applicable Manufacturer’s Warranty or as
otherwise required by law to help to attempt to ensure each
customer’s continued satisfaction with the Products, and, to
the extent that Licensee offers Product repair service instead of
Product replacement, Licensee shall make commercially reasonable
efforts to ensure (for at least the same time period) that it
maintains sufficient parts to complete all necessary repairs in a
workmanlike manner.

 

(c) Warranty Services. All
post-sales, return, repair, customer support and other services
relating to the Products or the Manufacturer’s Warranty shall
be provided strictly in accordance with: (i) the service levels set
forth in this Agreement including those set forth on Schedule 10; (ii) all industry
standard service levels for comparable Licensed Articles provided
or sold in the Territory; and (iii) all applicable federal, state,
provincial and local laws, treaties and regulations. Licensee
acknowledges and agrees that it shall require all Authorized
Service Providers to comply with and provide all post-sales,
return, repair, customer support and other services strictly in
accordance with all terms of this Agreement, including without
limitation this Section
7(c).

 

 

 

13

 

 

 

 

(d) Records. Licensee shall keep
and maintain a detailed record and database of all customer service
calls, inquiries, consumer or Retailer complaints, repair and
warranty claims relating to the Products. Without limiting the
foregoing, during the Term and thereafter so long as Licensee is
obligated to service the Products pursuant to this Section 7, Licensee shall, in
conjunction with any Authorized Service Providers, prepare and send
to Licensor (i) within [***]after the end of each month, a report
tallying all Product returns, consumer, Distributor and Retailer
complaints, and post-sales, return, repair, replacement, customer
support, Manufacturer’s Warranty, and other services relating
to the Products, known to Licensee, during the preceding month, and
(ii) within [***]following the end of each calendar quarter a
statement summarizing all problems and quality issues reported to
Licensee or any Authorized Service Providers for each Product
during the preceding calendar quarter.

 

(e) Licensor’s Satisfaction.
Licensor has the right to take all reasonable actions, including
the invocation of its rights under Section 9, which it deems
necessary to ensure that all post-sales, return, repair, customer
support and other services relating to the Products are handled to
Licensor’s satisfaction. In the event that Licensee or its
Authorized Service Providers do not handle all post-sales, return,
repair, customer support and other services relating to the
Products to Licensor’s satisfaction, Licensor may in its
reasonable discretion: (i) mandate that Licensee change service
providers; (ii) mandate that Licensee change the applicable service
level relating to the affected Product (e.g., replacement in lieu
of repair); (iii) elect to provide the required post-sales, return,
repair, customer support or other services directly or indirectly
through Licensor’s appointee(s), in which case Licensee shall
reimburse Licensor within [***]for [***] of all costs incurred by
or on behalf of Licensor in connection with such services; and/or
(iv) require Licensee to halt the distribution and sale of Products
in whole or in part, to recall Products in whole or in part, or to
take other remedial actions, where Licensor validly determines that
serious customer satisfaction, quality, safety, returns, or
compliance problem(s) exist.

 

8. RECORDS;
DISCREPANCIES.

 

(a) Records. Licensee, all
Permitted Manufacturers and all Authorized Service Providers shall
keep accurate books of account, records and databases covering all
transactions relating to this Agreement. Within [***]after each
Contract Year, Licensee shall provide Licensor with (i) a copy of
Licensee’s annual audited financial statements, and (ii) the
Payment Report Certification certifying that each of the Payment
Reports from the previous Contract Year is true and correct in all
respects.

 

(b) Audit. Licensor, its
representatives and designees, upon [***]prior written notice,
shall have the right at all reasonable business hours of the day to
freely and fully examine such books of account, records and
databases in the possession or control of Licensee and/or any of
the Permitted Manufacturers and/or any of the Authorized Service
Providers with respect to the subject matter and terms of this
Agreement, including the right to make extracts and copies
therefrom. All such books of account, records, and databases shall
be kept available during the Term and for at least [***] after
Termination of this Agreement, howsoever occasioned. Licensee
further agrees that, in order to facilitate inspection of its books
and records with respect to amounts due, it shall designate a
symbol or number which shall be used exclusively in connection with
Products and with no other articles or services which Licensee may
source, manufacture, offer, provide, sell, or distribute, and such
records shall be kept in reference to the unique Product
identifiers required pursuant to Section 4(j).

 

(c) Discrepancies. In the event
that Licensor reasonably determines, in the course of any
examination under Section
7(a) herein or otherwise, that payments, fees or other
monies owed to Licensor have been underpaid, Licensee shall remit
the amount of the underpayment to Licensor within [***] after
delivery of written notice of the error in accordance with the
payment instructions set forth in Schedule 4 (as may be updated
by Licensor from time to time), together with any late fees owed to
Licensor pursuant to Section 3(i) above. If the
amount of any underpayment equals [***]or more of any payments,
fees or other monies owed by Licensee to Licensor in any payment
period, Licensee shall be responsible to Licensor for the total
reasonable out-of-pocket cost of the examination/audit which
revealed the underpayment within [***]after receipt of an invoice
therefor.

 

 

 

14

 

 

 

 

9. TERMINATION. Notwithstanding
anything to the contrary in this Agreement, this Agreement may be
earlier terminated in any manner provided below:

 

(a) For Breach. Unless the
breaching Party’s default is one that cannot be cured, the
breaching Party shall have (i) in the case of breach by Licensee of
any obligation to pay any monies due under this Agreement, [***]to
remedy its breach; (ii) in the case of breach by Licensee of its
obligation to cooperate pursuant to Section 15(c), [***]to remedy
its breach; or (iii) in all other cases, [***]after the breaching
Party receives written notice of its breach. If the breaching Party
should fail to remedy a curable breach within the applicable cure
period, this Agreement may be terminated in the reasonable
discretion of the non-breaching Party upon delivery of written
notice to the breaching Party. If the breaching Party’s
default is one that cannot be cured, this Agreement may be
terminated by the non-breaching Party upon delivery of written
notice to the breaching Party. Notwithstanding the foregoing, in
the event that a Party breaches the same or related provision of
this Agreement [***]or more times in an [***]period, this Agreement
may be immediately terminated (without opportunity to cure) in the
reasonable discretion of the non-breaching Party upon delivery of
written notice to the breaching Party.

 

(b) Insolvency. Licensor may
terminate this Agreement effective immediately upon delivery of
written notice to Licensee if the Licensee: (i) for [***]or more is
unable to pay its debts as they mature or admits in writing its
inability to pay its debts as they mature; (ii) makes a general
assignment for the benefit of creditors; (iii) files a voluntary
petition for bankruptcy or has filed against it an involuntary
petition for bankruptcy which is not discharged within a period of
[***]after such filing; or (iv) applies for the appointment of a
receiver or trustee for substantially all of its assets or permits
the assignment of any such receiver or trustee who is not
discharged within a period of [***]after such
appointment.

 

(c) Immediate Termination.
Notwithstanding anything herein to the contrary, Licensor may
terminate this Agreement effective immediately upon delivery of
written notice to Licensee upon Licensee’s breach of
Sections 2(b) (no
sublicensing) 2(f)(i)-(vi) (no misuse of License rights), 2(g)
(non-circumvention)), 4(e) (failure to undertake remedial
measures), 6(c) (non-assert), and 14(a),(b),(d),(e) (no threats to
Motorola’s ownership or goodwill associated with the Licensed
Marks).

 

10. EFFECT OF
TERMINATION.

 

(a) Cessation of Use. If this
Agreement terminates pursuant to Section 9, Licensee shall
immediately (i) discontinue sourcing, manufacturing, packaging,
assembling, providing, selling and distributing the Products and
Services and shall immediately discontinue any and all other use of
the Licensed Marks, and (ii) cease accepting and fulfilling
purchase orders for the Products and Services. If this Agreement is
terminated for any other reason, Licensee shall have [***], and
shall be permitted to allow any Retailers, Distributors, and
Internet Service Providers an additional period of [***] (the
“Sell-off
Period”) to dispose of then-existing Products and
cease providing the Services; provided, however, that Licensee may
not stockpile Products in anticipation of the Termination of this
Agreement and, at the option of Licensor, Licensor may purchase all
unsold Products then in Licensee’s possession, custody or
control at Licensee’s actual and reasonably substantiated
cost plus reasonable shipping charges. Notwithstanding anything to
the contrary in this Agreement, any such Sell-off Period shall be
non-exclusive.

 

(b) Accounts Receivable. Upon the
Termination of this Agreement, notwithstanding anything to the
contrary herein and subject to Section 10(c): (i) any unpaid
balance of the Guaranteed Minimum Royalty that would be due for the
balance of the Term, as liquidated damages and not as a penalty,
shall accelerate and become immediately due and payable to
Licensor; and (ii) all Earned Royalties due and owing by virtue of
Product sales theretofore shall become due and payable within
[***]of such Termination. All Earned Royalties generated by virtue
of Products sold or provided to Retailers, Distributors, Internet
Service Providers, and consumers through the Authorized Channels
during any applicable Sell-off Period shall be due within ten (10)
Business Days after the conclusion of the Sell-off
Period.

 

 

 

15

 

 

 

 

(c) Reservation of Rights and
Remedies. Any Party who terminates this Agreement in
accordance with the terms of this Agreement shall also have all
other rights and remedies available under applicable law or equity
for any claim it may have against the other Party, whether for
breach of contract or otherwise. Without limiting the foregoing,
Licensor shall have and hereby reserves all rights and remedies
which it has or which are granted to it by operation of law or
equity to enjoin the unlawful or unauthorized use of the Licensed
Marks.

 

(d) Continued
Support.                                            Notwithstanding
the termination of expiration of this Agreement, Licensee
acknowledges that is shall remain responsible for providing, at its
cost, all warranty and repair services required by this Agreement
or the federal, state, provincial and local laws, treaties and
regulations of the country in which the Products were sold, and in
the event Licensee offers Services in connection with such
Products, Licensee shall remain responsible for providing and
maintaining, at its cost, such Services for the entire expected
life of the Product, provided that such Services shall not be
permitted to use the Licensed Marks after the expiration or
termination of the Agreement, including the Sell-off Period (if
any).

 

11. INSURANCE.

 

(a) Throughout the Term
of this Agreement, and for the period of time specified in
Schedule 11
following the date of Termination, Licensee shall at its sole cost
and expense obtain and maintain, and shall use commercially
reasonable efforts to require its Permitted Manufacturers and
Authorized Service Providers to obtain and maintain,
industry-standard insurance policies from a recognized insurance
company qualified to do business in the United States of America or
such other jurisdictions as Licensor may from time to time request
on terms and with limits of at least those standards set forth on
Schedule
11.

 

(b) As of the Effective
Date and annually upon renewal of each insurance policy, Licensee
shall supply Licensor with a Certificate of Insurance with respect
to each of the foregoing policies that names Licensor and any other
Persons identified on Schedule 11 as additional
insureds, and which also provides that such insurance shall not be
canceled or changed unless at least [***]prior written notice has
been given to Licensor. Licensee’s insurance shall be primary
and required to respond to and pay claims prior to other coverage.
Coverage and limits referred to above and in Schedule 11 shall not in any
way limit the liability of Licensee and may be required to be
increased as requested by Licensor in its reasonable discretion to
stay current with industry standards or cost of living. Licensee
hereby waives any rights of subrogation against Licensor and any
other additional insureds identified in Schedule 11. Licensee shall
also ensure that its insurers waive their rights of subrogation
against Licensor and any other additional insureds identified in
Schedule
11.

 

(c) Licensee shall
promptly pay all premiums required to be paid under each insurance
policy and shall immediately furnish proof of such payment to
Licensor upon Licensor’s request. In no event shall Licensee
utilize the Licensed Marks for commercial purposes in accordance
with the terms and conditions of this Agreement prior to
Licensee’s provision to Licensor of evidence of the insurance
policies required under this Section 11.

 

12. EXPORT;
TRANSSHIPPING

 

(a) Export. Licensee represents and
covenants that it makes commercially reasonable efforts to be aware
of the pertinent export laws and regulations relating to the
Licensed Articles, Licensed Marks and Product IP and to not violate
them. To the extent that Licensee or its Affiliates exports,
transports, sources, distributes, manufactures or has manufactured
any products or technologies in any way connected to the Licensed
Marks, Licensee hereby represents and covenants to Licensor that
neither Licensee nor its Affiliates shall (without the prior
written consent of both Licensor and the Office of Export Licensing
of the U.S. Department of Commerce, P.O. Box 273, Washington, D.C.
20230), directly or indirectly export, transport, source, offer,
provide, distribute, manufacture or have manufactured any Licensed
Articles or any technical information provided hereunder in, to or
by: (i) any Person(s) listed in the Table of Denial Orders as
published from time to time in Supplement No. 2 to Part 764 of the
above referenced regulations; (b) embargoed countries or foreign
nationals of such countries, as may be changed from time to time,
under U.S. export laws and regulations; or (c) controlled countries
and foreign nationals of such countries to the extent such products
and technologies are defined as controlled technologies in the U.S.
Export Administration Regulations Part 774.

 

 

 

16

 

 

 

 

(b) No Transshipping. Licensee and
its Affiliates shall limit their distribution and provision of the
Products to direct sales to Retailers, Distributors, Internet
Service Providers, and consumers through Approved Channels in the
Territory. All Retailers, Distributors, and Internet Service
Providers correspondingly shall only distribute and sell Products
through the Approved Channels in the Territory, and Licensee shall
be responsible for taking all necessary actions to aggressively
pursue and where possible remedy any breach of that obligation by
its Affiliates, Retailers, Distributors, or Internet Service
Providers. Neither Licensee, its Affiliates, Retailers, Internet
Service Providers, nor Distributors shall directly or indirectly
transship, distribute or otherwise transfer Products outside the
Approved Channels in the Territory. Licensee and its Affiliates
shall over time incorporate this limitation into all agreements for
the resale of the Products and obtain Retailers’, Internet
Service Providers’, and Distributors’ acknowledgement
and agreement to the limitation. Licensee shall strictly enforce
this limitation with its Affiliates, Retailers, Internet Service
Providers, Distributors, agents, and any other permitted Person(s)
including immediate termination of agency and distribution
agreements and termination of further sales to Persons violating
the terms of this limitation. Any intentional violation of this
Section 12(b),
whether by Licensee, its Affiliates, Retailers, Internet Service
Providers, Distributors, or any other Person under Licensee’s
agency or control, shall be a material breach of this Agreement
resulting in irreparable harm to Licensor for which money damages
will not be adequate. In addition to any other remedies Licensor
may have at law or in equity, Licensor may within its reasonable
discretion: (i) terminate this Agreement pursuant to Section 9(a);
(ii) require Licensee to recall the affected Product(s); and/or
(iii) require Licensee to immediately remit to Licensor an amount
equal to twice the Net Sales of the Product(s) made outside the
Approved Channels in the Territory as liquidated damages. Licensee
further acknowledges and agrees that Licensor shall be entitled to
injunctive relief to prevent a threatened or continued material
breach and to specifically enforce this Section 12(b). If Licensee, its
Affiliates, Retailers, Distributors, or their respective agents
directly or indirectly distributed or sold Products outside the
Approved Channels in the Territory, Licensee shall be responsible
for taking all necessary actions to remedy such situation,
including reimbursing Licensor for any losses or expenses
incurred.

 

13. REPRESENTATIONS, WARRANTIES AND
COVENANTS.

 

(a) By Licensee. Licensee
represents, warrants and covenants to Licensor that: (i) it has the
authority to enter into this Agreement and to provide and sell the
Products, free and clear of all liens, charges, encumbrances, or
other restrictions; (ii) at all times during the Term of this
Agreement, and thereafter as required hereunder, Licensee shall
maintain the necessary working capital and manufacturing facilities
or relationships to perform all obligations of Licensee under this
Agreement; (iii) the Products shall be free from defects in design,
manufacture, material and workmanship, and shall be fit and safe
for the use(s) normally and reasonably intended; (iv) the Products
shall be of merchantable quality and shall be manufactured and
shall perform in conformance with approved samples; (v) the
Products shall be new and shall not contain anything used,
refurbished or reconditioned; (vi) Licensee shall not distribute or
sell any used, refurbished or reconditioned Products without
Licensor’s prior written authorization; (vii) Licensee shall
not directly or indirectly offer, distribute, provide or sell
Products or Services outside the Approved Channels in the Territory
(or otherwise in violation of this Agreement); (viii) the Products
(including their labeling and packaging) and Services shall not
violate or infringe any Intellectual Property right of any third
party or any other right of any third party, nor shall their offer,
provision, resale or distribution by Retailers, Distributors, any
customers of Retailers or Distributors, or any other Person; (ix)
Licensee has timely paid, and shall continue to timely pay, all
license fees, royalties and/or other fees and expenses to third
parties that are necessary to facilitate sourcing, manufacturing,
packaging, distributing, providing, selling, repairing and
servicing the Products; (x) Licensee shall provide a
Manufacturer’s Warranty to end users of the
Products in accordance
with the terms of this Agreement and in compliance with all
applicable laws and regulations; (xi) neither Licensee, Permitted
Manufacturer(s) nor any Authorized Service Provider(s) will violate
any of the terms or conditions of the Ethical Standards in
Schedule 12,
including without limitation by producing, manufacturing,
assembling, packaging, servicing or distributing any Products or
providing any Services by or in connection with the use of forced
labor, prison labor, forced or illegal child labor or Conflict
Minerals (as defined in Schedule 12); (xii) the
Products shall not be trans-shipped for the purpose of mislabeling,
evading quota or country of origin restrictions or for the purpose
of avoiding compliance with forced labor, prison labor or child
labor laws; (xiii) Licensee has full power and authority to enter
into and deliver this Agreement and to lawfully perform all of its
obligations hereunder; (xiv) Licensee shall actively exploit all of
the rights granted to it under this Agreement; (xv) it is duly
organized, validly existing and in good standing under the laws of
its jurisdiction of organization and is duly authorized to do
business under the laws of such jurisdiction and each other
jurisdiction in which such qualification is required; (xvi) this
Agreement has been duly executed and delivered by it and
constitutes its legal, valid and binding obligation, enforceable in
accordance with its terms; and (xvii) notwithstanding any other
provisions in this Agreement, Licensee shall not make any use of
the Licensed Marks or the Licensed Domain Names or Licensed Social
Media Accounts in the Excluded Channels, including without
limitation marketing, promoting, distributing or selling any
Products through the Excluded Channels.

 

 

 

17

 

 

 

 

(b) Compliance with Laws. Licensee
represents, warrants and covenants that all Products shall be
sourced, imported manufactured, processed, packaged, labeled,
tagged, tested, certified, accurately marked, weighed, inspected,
distributed, shipped, offered, provided, sold, repaired and
serviced and all Services rendered and provided in compliance with
all applicable industry standards and all applicable federal,
state, provincial and local laws, treaties and regulations,
including, without limitation, all laws and regulations relating to
health, safety, environment, serial and identification numbers,
manufacturing, packaging, labeling and country of origin
designation, all toxic substances, OSHA, RoHS and EPA regulations
(or other similar applicable regulations), all waste, recycling and
disposal laws and regulations, customs and importation
requirements, and voluntary or mandatory compliance certifications
(e.g., Underwriter’s Laboratories, Inc., CE, CSE, etc.).
Licensee shall provide Licensor with evidence of all such
certifications prior to delivering any Products to Retailers,
Distributors or consumers.

 

(c) By Licensor. Licensor
represents and warrants that it has (i) the right to grant to
Licensee the license to the Primary Marks granted hereunder which,
notwithstanding any other provisions in this Agreement, do not
include uses of the Licensed Marks, the Licensed Domain Names and
the Licensed Social Media Accounts in or through the Excluded
Channels, and (ii) full power and authority to enter into and
deliver this Agreement and to perform all of its obligations
hereunder. THE LICENSE GRANTED IN
SECTION 2 ABOVE AS TO THE SECONDARY MARKS IS GRANTED TO LICENSEE ON
AN "AS IS", “WHERE IS” AND "AS AVAILABLE" BASIS.
LICENSOR MAKES NO REPRESENTATION OR WARRANTIES OF ANY KIND, EXPRESS
OR IMPLIED, AS TO THE OWNERSHIP OF THE SECONDARY MARKS, AND NEITHER
LICENSOR, ITS AFFILIATES, NOR THEIR RESPECTIVE LICENSORS SHALL BE
OBLIGATED TO INDEMNIFY LICENSEE FOR ANY CLAIMS, DEMANDS, CAUSES OF
ACTION, LOSSES, EXPENSES OR DAMAGES RELATED TO LICENSEE’S USE
OF THE SECONDARY MARKS.

 

(d) Privacy and Information
Security.

 

(i) Licensee
and its Affiliates have established and are in compliance with a
written information security program that: (1) includes
administrative, technical and physical safeguards designed to
safeguard the security, confidentiality, and integrity of user
data, personal data, and other data and information collected,
stored or processed by Licensee, its Affiliates, or the Licensed
Articles, including any services used in connection therewith
(collectively, “User
Data”); and (2) is designed to protect against
unauthorized access to the computer systems and networks owned,
controlled or utilized by Licensee and its Affiliates (each, a
“Licensee
System”) and User Data. Licensee is neither aware of
nor has any reason to believe that either Licensee or any of its
Affiliates have suffered or incurred any material security breach
or incident with respect to any such Licensee System or User Data.
No breach or violation of any security program described above has
occurred or, to the knowledge of Licensee or its Affiliates, is
threatened, and there has been no unauthorized or illegal use of or
access to any Licensee System or User Data. Licensee is neither
aware of nor has any reason to believe that either Licensee or any
of its Affiliates has notified, or been required to notify, any
Person of any information security breach or incident involving any
personal data. Each database of User Data that is required to be
registered or maintained under any applicable law has been duly
registered and maintained.

 

(ii)  Licensee
and its Affiliates have published and maintained in effect privacy
policies as required by applicable laws. Licensee and its
Affiliates each maintain a comprehensive privacy compliance program
designed to ensure compliance with all of their respective privacy
policies and with all applicable laws pertaining to privacy,
personal data or user data. The execution, delivery or performance
of this Agreement will not result in any material violation of any
of Licensee’s or its Affiliates’ privacy policies or
any law pertaining to privacy, user data, or personal data.
Licensee and its Affiliates have all rights necessary to collect,
use, possess, and exploit the User Data in connection with the
operation of their respective business.

 

 

 

18

 

 

 

 

(iii) Licensee
and its Affiliates each maintain a product security compliance
program designed to ensure compliance with all of their respective
product security policies and with all applicable laws pertaining
to product security. The execution, delivery or performance of this
Agreement will not result in any material violation of any of
Licensee’s or its Affiliates’ product security policies
or any law pertaining to product security. Licensee and its
Affiliates possess the necessary expertise, or will employ or
acquire such expertise, in order to ensure the secure operation of
the Licensed Articles, and any services used in connection
therewith.

 

(iv) Licensee
will make reasonable efforts to comply with all applicable
security, privacy and data protection laws and regulations; will
implement processes to assess the Licensed Article for privacy and
security compliance prior to public launch or release; will
implement and maintain appropriate technical and other protections
for the User Data and Licensee System; will immediately report to
Licensor any breaches (or similar incidents) of protection of User
Data or Licensee System; and will cooperate fully with
Licensor’s requests for access to, correction of, and
destruction of User Data in any Licensee System.

 

(v) Licensee
will protect the privacy and legal rights of any users of the
Licensed Articles (“End Users”). If End Users
provide Licensee with, or if the Licensed Articles access or use,
user names, passwords, or other login information or personal
information, Licensee must make the End Users aware that the
information will be available to the Licensed Articles, and shared
with Licensor, and Licensee will provide legally adequate privacy
notice and protection for those End Users. Further, Licensee may
only use that information for the limited purposes for which the
End User has given Licensee permission. Licensee will not use,
disclose, or transfer across borders User Data except as necessary
to perform under this Agreement and pursuant to the terms of a
separate confidentiality agreement signed by the
Parties.

 

(vi) All
User Data collected by Licensee, its Affiliates, or the Licensed
Articles is and shall remain the exclusive property of Licensor.
Licensee may not otherwise use or modify the User Data, merge it
with other data, commercially exploit it, use it for unauthorized
marketing or advertising purposes, disclose it, transfer it across
international borders or do any other thing that may in any manner
adversely affect the integrity, security or confidentiality of such
User Data, other than as expressly specified herein, as authorized
by user, or as directed by Licensor in writing.

 

(vii) Licensee,
and its Affiliates warrant that Licensee will make reasonable
efforts to ensure that the Licensed Articles (a) will not contain
any viruses, worms, Trojans, error files, password cracking
programs, malware or any program that might compromise security or
privacy for the end users, or open source software; (b) will not
cause any privacy or security concerns; and (c) will not or cause
any other errors or issues which could impact the security of the
Licensed Articles or the privacy of its users (collectively
“Issue(s)”). In the event of an Issue, Licensee shall
attempt to resolve such Issue in a timely manner.

 

14. OWNERSHIP OF LICENSED
MARKS.

 

(a) Ownership and Goodwill.
Licensee acknowledges and agrees that: (i) the Licensed Marks are
famous and there is substantial goodwill associated with the
Licensed Marks; (ii) Licensor and/or its Affiliates owns all right,
title, interest and goodwill in and to the Licensed Marks,
including without limitation in connection with the Licensed
Articles; and (iii) all use of the Licensed Marks pursuant to this
Agreement shall inure exclusively to the benefit of Licensor, its
Affiliates and their respective licensors. Licensee covenants that it shall
not at any time: (1) challenge the right, title or interest of
Licensor, its Affiliates and their respective licensors in the
Licensed Marks or any trademarks, trade names, domain names or
social media accounts owned by or licensed to Licensor or its
Affiliates; (2) do or cause to be done or omit to do anything, the
doing, causing or omitting of which would contest or in any way
impair or tend to impair Licensor’s and its Affiliates’
rights in the Licensed Marks or any trademarks, trade names, domain
names or social media accounts associated therewith; (3) represent
to any third party that Licensee has any ownership or rights with
respect to the Licensed Marks, or any trademarks, trade names,
domain names or social media accounts associated therewith, other
than any specific rights granted to Licensee herein; or (4)
duplicate, adopt, use or register any words, phrases, symbols,
designs, technology or anything else that is identical to or
confusingly similar to any of the Licensed Marks or any trademarks,
trade names, domain names or social media accounts associated
therewith. In the event that any Licensed Marks are co-branded,
sub-branded, or otherwise combined with any other trademark, trade
name, domain name, social media account name or handle therefor,
model name, model designation, alphanumeric model number, lot
number, or other designation of origin (“Co-Branded Mark”),
Licensee hereby assigns and Licensor shall own, all right, title
and interest in and to all Intellectual Property Rights in and to
any and all Co-Branded Marks. Licensee shall execute any further
documents as may be required to effect or otherwise confirm such
assignment(s). Notwithstanding any other provision in this
Agreement, Licensee acknowledges and agrees that it shall not
assert any trademark, trade dress, or other Intellectual Property
right in any Product model number or serial number, and that
Licensor shall own all such rights in and to all Product model
numbers and serial numbers. For the avoidance of doubt, this
provision shall survive Termination of this agreement.

 

 

 

19

 

 

 

 

(b) Trademark Registrations.
Licensor, its Affiliates and their respective licensors shall have
the right, in their sole discretion, to apply to register the
Licensed Marks, or any trademarks, trade names, domain names or
social media accounts (or handles therefor) associated therewith,
in their name in any and all jurisdictions including the Territory.
Licensee shall cooperate with Licensor, its Affiliates and their
respective licensors in obtaining such registrations, including by
promptly executing all requested documents. In addition, if
Licensor, its Affiliates, or their respective licensors agree to
make filings for the Licensed Marks in the Territory in connection
with the Licensed Articles at the request of Licensee, Licensee
shall promptly remit to Licensor all costs and fees associated with
such filings, as well as the maintenance of any resulting
registrations. Notwithstanding anything in this Agreement to the
contrary, Licensee covenants that it shall not under any
circumstance seek to register any of the Licensed Marks, or any
other trademarks, trade names, domain names or social media
accounts associated therewith, comprised thereof or confusingly
similar thereto, during the Term of this Agreement or at any point
thereafter. Licensee acknowledges and agrees that any violation of
this provision shall result in automatic assignment of any such
applications, registrations or other rights to Licensor, its
Affiliates and their respective licensors, at Licensee’s sole
expense, and Licensee agrees to sign any documents requested by
Licensor for such purpose. Licensee hereby irrevocably provides its
power of attorney to Licensor for the purposes of effectuating the
assignments and transfer(s) contemplated in this Section 14(b).

 

(c) Notice of Infringement.
Licensee shall notify Licensor promptly in writing of any actual or
potential infringements or imitations by others of the Licensed
Marks that come to Licensee’s attention during the Term of
the Agreement.

 

(d) Enforcement. During the Term of
this Agreement and at all times thereafter, Licensor, its
Affiliates and their designee(s) shall have the exclusive right,
exercisable in their reasonable discretion, to pursue infringers of
the Licensed Mark and any trademarks, trade names, domain names or
social media accounts associated therewith. Licensee agrees to
assist Licensor, its Affiliates and their representatives and
designee(s) to the extent necessary to protect any of
Licensor’s and its Affiliates’ rights in the Licensed
Marks and any trademarks, trade names, domain names or social media
accounts associated therewith. Licensee acknowledges and agrees
that such assistance may include, without limitation: (i)
assistance in the filing and prosecution of trademark, copyright or
domain name registration applications or transfers; (ii) the
publication of notices; and (iii) the doing of any other act or
acts with respect to the Licensed Marks and any trademarks, trade
names, domain names or social media accounts associated therewith,
including the prevention of the use thereof by an unauthorized
person, firm or corporation, which in the reasonable discretion of
Licensor may be necessary or desirable under any law, regulation or
decree of any jurisdiction(s).

 

(e) Reservation of Rights. Licensee
acknowledges and agrees that all Intellectual Property owned by or
licensed to Licensor or its Affiliates, including without
limitation the Licensed Marks and any trademarks, trade names,
domain names or social media accounts (and handles therefor)
associated therewith, shall continue to be owned by or licensed to
Licensor or its Affiliates.

 

(f) Termination of Rights. Upon
Termination of this Agreement, howsoever occasioned, all rights and
license in and to the Licensed Marks granted by Licensor to
Licensee under this Agreement shall immediately terminate, subject
only to any applicable Sell-off Period as well as to any ongoing
obligation of Licensee to provide post-sales customer support,
return, repair, and other services relating to the
Manufacturer’s Warranty or the Products pursuant to the terms
of this Agreement.

 

(g) Violations. Licensee
acknowledges and agrees that any violation of Section 14(a), (b), (d) or (e)
shall be deemed a material breach of this Agreement that shall
cause Licensor irreparable harm, and upon which Licensor shall have
the right to immediately terminate this Agreement without limiting
any other additional remedies to which Licensor may be
entitled.

 

 

 

20

 

 

 

 

15. INDEMNIFICATION.

 

(a) By Licensee. Licensee hereby
agrees to assume complete and immediate responsibility for, and to
immediately defend, indemnify and hold harmless Licensor, its
Affiliates, and their respective directors, officers, employees,
shareholders, members, agents, parents, subsidiaries, licensors,
successors and assigns, from any and all liabilities, claims,
demands, causes of action, losses, expenses and damages (including,
without limitation, reasonable attorneys’ fees and settlement
amounts) relating to or arising out of: (i) any death or injury to
any person or any property damage resulting or arising from, or
alleged to have resulted or arisen from, any Products; (ii)
Licensee’s negligence, misconduct or breach in providing any
post-sales, customer support, return, repair, or other services
relating to the Products; (iii) any actual or threatened breach of
this Agreement (including without limitation Licensee’s
representations in Sections 13(a) and 13(b)) or the
Manufacturer’s Warranty by Licensee, Permitted Manufacturers,
Authorized Service Providers, OEM Manufacturers, or any
unauthorized third-party subcontractors or vendors; (iv)
Licensee’s actual or alleged violation of any of the laws of
any governmental entity with respect to the Products; (v)
Licensee’s failure to obtain, secure or maintain any
Intellectual Property license, agreement or third-party right
necessary to manufacture, promote, distribute, service or sell any
of the Products, even if the third-party claim involves in any
fashion Intellectual Property owned by or licensed to Licensor or
its Affiliates; (vi) Licensee’s failure to provide Products
that comply with all laws and regulations; (vii) any imposition of
waste and/or recycling charges pertaining to the Products; or
(viii) anything else directly or indirectly relating to sourcing,
manufacturing, packaging, distributing, providing, selling,
re-selling, servicing and/or using the Products or the actual or
alleged failure of the Products, including, without limitation,
claims, demands, causes of action, losses and damages based upon
Intellectual Property Rights or other proprietary rights of any
third party, alleged and claimed defects in the Products, Product
recalls and returns, and the actions, alleged actions and omissions
of, and materials provided by, OEM Manufacturers and any
unauthorized subcontractors or vendors. Notwithstanding anything to
the contrary in this Agreement, failure of Licensee to perform any
of its obligations under this Section 15 shall give Licensor
the right to terminate this Agreement, effective upon immediately
upon delivery of written notice to Licensee.

 

(b) By Licensor. Provided that
Licensee is in compliance with all of the terms, conditions and
obligations imposed upon them under this Agreement, Licensor hereby
agrees to be responsible for, to defend, indemnify and hold
harmless Licensee, its Affiliates and their respective directors,
officers, employees, shareholders, agents, successors and permitted
assigns, from any and all liabilities, claims, demands, causes of
action, losses, expenses and damages (including, without
limitation, reasonable attorneys’ fees and settlement
amounts) relating to or arising out of (i) claims that the Primary
Marks used in connection with the Licensed Articles pursuant to
this Agreement infringe any valid trademark rights of any third
party, or (ii) any breach of Licensor’s representations in
Section 13(c)
herein. Notwithstanding anything to the contrary in this Agreement,
failure of Licensor to perform any of its obligations under this
Section 15 shall
give Licensee the right to immediately terminate this Agreement,
effective upon delivery of written notice to Licensor.
Notwithstanding any provision in this Agreement, neither Licensor,
its Affiliates, nor their respective licensors shall be liable for
any use by Licensee of any Secondary Mark which is asserted by a
third party to be an infringement of its intellectual property or
other proprietary rights and/or an act of unfair
competition.

 

(c) Cooperation. A Party seeking
indemnification under this Agreement (“Indemnitee”) shall
promptly notify the indemnifying Party (“Indemnitor”) in writing
of the claim, suit or proceeding for which indemnification is
sought. The Indemnitee shall have the right to participate in such
defense at its own expense, shall reasonably cooperate with the
Indemnitor, and shall not be obligated, against its consent, to
participate in any settlement which it reasonably believes would
have an adverse effect on its business. In the event that any third
party alleges that any of the Licensed Marks infringe such
Person’s Intellectual Property or other proprietary rights,
or any of the Licensed Marks are determined by a court of competent
jurisdiction to infringe a third party’s Intellectual
Property or other proprietary rights, Licensor reserves the right
to substitute a reasonably equivalent mark (as determined and
exercised in Licensor’s reasonable discretion) as a
substitute for use in connection with the applicable Licensed
Articles, and such substitute mark shall be thereafter deemed to be
among the Licensed Marks for the purposes of this
Agreement.

 

 

 

21

 

 

 

 

16. CONFIDENTIALITY. Unless agreed
to in advance by the other Party, or otherwise required by law,
court order or other legal process, neither Party hereunder shall
disclose any of the terms and conditions of this Agreement, or any
confidential information received from the other Party in
connection with the performance of this Agreement, to any other
Person, except to such Party’s officers, directors,
employees, counsel, consultants and auditors and then only to the
extent necessary in the ordinary course of its business. In
addition to and without limiting the foregoing, Licensee shall
fully cooperate with Licensor in advance of the disclosure of any
Product prototype or related filings to any Person (including
without limitation any governmental or regulatory authority) and
shall coordinate with Licensor regarding the disclosure of all
prototypes and all related filings to ensure that confidentiality
concerning such Products is maintained. If either Party receives
any subpoena, court order or other legal process requiring the
disclosure of any of the terms and conditions of this Agreement,
such Party shall promptly notify the other Party hereto in writing,
and shall cooperate with the other Party in obtaining protective
orders or other appropriate forms of relief, limiting the extent
and scope of such legally required disclosures. In addition to the
foregoing, Licensor shall, and shall cause its Affiliates to, keep
in confidence and not share or use, except to perform its
obligations or exercise its rights under this Agreement, all
confidential information of Licensee, until such time as Licensor
can demonstrate that such information (i) is explicitly approved
for release by written authorization of Licensee, or (ii) is
lawfully obtained by a third party or parties without a duty of
confidentiality.

 

17. AFFILIATES. Licensee represents
and warrants that a current and comprehensive list of all of
Licensee’s Affiliates is identified in Schedule 14, which shall be
updated by Licensee from time to time at Licensee’s sole
expense.

 

18. TAXES. Licensee shall pay all
taxes and charges imposed by any government or taxing authority
(other than the United States or a subdivision thereof) with
respect to payments by Licensee to Licensor or transfer of rights
hereunder. Notwithstanding the foregoing, to the extent Licensee is
required by any applicable income tax law to withhold a portion of
the payment owing to Licensor hereunder, Licensor shall accept the
resulting net payment as due performance under this agreement.
Licensee shall, however, take all necessary steps to secure the
benefit of any reduction of withholding tax rate available under
treaty (provided that, as applicable, Licensor shall promptly
provide to Licensee any forms required to support a reduced rate of
withholding), and Licensee shall promptly provide Licensor with a
receipt for any tax withheld. Receipts should be sent to the
address specified on Schedule 13, which may be
updated from time to time by Licensor in writing.

 

19. GENERAL
PROVISIONS.

 

(a) Notices. All notices and other
communications given hereunder shall be deemed given to a Party if
sent to the addresses identified in Schedule 13 (or such new
address as shall be provided by proper notice under this provision
by the relevant Party): (i) the next Business Day after sending to
the address specified in Schedule 13 via express
overnight courier (e.g., Federal Express); (ii) the next Business
Day if delivered personally (including delivery by messenger);
(iii) the fifth Business Day after sending to the address specified
in Schedule 13 via
certified First Class U.S. Mail, return receipt requested; or (iv)
the next Business Day after sending to the email address specified
in Schedule 13,
provided that confirmation of receipt has been personally
acknowledged by recipient.

 

(b) Limitation of Liability.
LICENSOR SHALL NOT BE LIABLE IN ANY EVENT FOR LOSS OF PROFITS OR
GOODWILL, OR OTHER FINANCIAL LOSS OR SPECIAL, INDIRECT, INCIDENTAL,
COVER, PUNITIVE OR CONSEQUENTIAL DAMAGES, WHETHER OR NOT
FORESEEABLE AND EVEN IF LICENSOR HAS BEEN ADVISED OF THE
POSSIBILITY OF SUCH DAMAGES.

 

(c) Construction. EACH PARTY
ACKNOWLEDGES THAT IT HAS BEEN REPRESENTED BY COUNSEL OF ITS OWN
CHOOSING IN THE NEGOTIATIONS, PREPARATION AND REVIEW OF THIS
AGREEMENT AND EACH PARTY FURTHER ACKNOWLEDGES THAT IT HAS READ THIS
AGREEMENT WITH ITS COUNSEL AND IS FULLY AWARE OF AND UNDERSTANDS
ALL OF ITS TERMS AND THE CONSEQUENCES THEREOF. IT IS AGREED BY THE
PARTIES THAT IN THE EVENT THAT AN AMBIGUITY OR QUESTION OF INTENT
OR INTERPRETATION ARISES, THIS AGREEMENT, INCLUDING ANY AND ALL
SCHEDULES ATTACHED HERETO, WILL BE CONSTRUED AS IF DRAFTED JOINTLY
BY THE PARTIES AND NO PRESUMPTION OR BURDEN OF PROOF WILL ARISE
FAVORING OR DISFAVORING ANY PARTY BECAUSE OF THE AUTHORSHIP OF ANY
PROVISION OF THIS AGREEMENT.

 

 

 

22

 

 

 

 

(d) Dispute Resolution. The Parties
will attempt to settle any claim or controversy relating to this
Agreement through negotiation in good faith and a spirit of mutual
cooperation. If those attempts fail to achieve a settlement, then
the dispute will be mediated by a mutually acceptable mediator to
be chosen by the Parties within [***]after written notice by either
Party demanding mediation. Neither Party may unreasonably withhold
consent to the selection of a mediator, and the Parties will share
the costs of mediation equally. The non-binding mediation hearing
shall be conducted within forty-five (45) calendar days after the
selection of the mediator. Each Party shall bear its own
attorney’s fees and other costs. Any mediation shall be
conducted in the English language. Any dispute that cannot be
resolved between the Parties through negotiation or mediation
within [***]of the date of the initial demand for mediation by one
of the Parties may then be submitted to the courts for resolution.
The use of any mediation procedures will not be construed under the
doctrines of laches, waiver or estoppel to affect adversely the
rights of either Party. Nothing in this Section will prevent either
Party from resorting to judicial proceedings if interim relief from
a court is necessary to prevent serious and irreparable injury to
that Party or to others. In addition, nothing in this Section shall
be construed as applying to disputes regarding (i) the Intellectual
Property Rights (including Confidential Information) of either
Party, (ii) payments due under this Agreement, or (iii) any claim
arising from or relating to Section 15 of this
Agreement.

 

(e) Governing
Law. This Agreement
shall be interpreted and construed in accordance with the laws of
the State of Illinois, without regard to its conflict of laws
principles, and venue for any dispute under this Agreement shall
lie in state or federal courts located in Cook County, Illinois.
The Parties hereby consent to the jurisdiction and venue of such
courts.

 

(f) Survival. Termination shall not
relieve either Party of the obligation to pay any sums due
hereunder. The following provisions and any Schedules referenced
therein shall survive according to their terms after Termination of
this Agreement: Sections
1, 2(c), 2(e), 2(f), 2(g), 2(h), 2(j), 3(b), 3(c), 3(e)-(h),
4(b)-(e), 4(g), 4(i), 5(c), 6-8, and 10-19.

 

(g) Assignment. This Agreement shall not be
assigned or otherwise transferred by the Licensee without the prior
written consent of the Licensor. Notwithstanding the above,
Licensee shall have the right to assign its rights and to delegate
its duties under this Agreement, with Licensor’s prior
written consent, which shall not be unreasonably withheld, to
wholly-owned subsidiaries of Licensee. In the event that Licensee
undergoes a substantial change of ownership, whether or not such a
change results from a merger, acquisition, consolidation or
otherwise, Licensee shall have the right to assign its rights and
to delegate its duties to such new owner under this Agreement,
provided that the substantial change of ownership does not result
in a substantial degradation in the nature of the Licensee’s
Motorola brand product mix, pricing structure, financial condition
or method of doing business. However, in any instance, Licensee and
its assignee shall remain joint and severally liable to Licensor
for all of the obligations assumed by it under the terms of this
Agreement.

 

(h) Entire Agreement;
Amendment. This
Agreement constitutes the entire understanding of the Parties with
respect to the subject matter hereof, and shall supersede any and
all prior communications, negotiations, correspondence, course of
dealings and other agreements between the Parties regarding such
subject matter. This Agreement may only be amended or modified in a
writing signed by both Parties. The terms and conditions of this
Agreement shall prevail notwithstanding any conflict with the terms
and conditions of any purchase order, acknowledgment or other
instrument submitted by Licensee.

 

(i) Currency. All sums set forth in
this Agreement and any schedules hereto are, and are intended to
be, expressed in United States dollars. All payments and
remittances due under this Agreement shall be paid in United States
Dollars at the “Foreign Exchange Rate.” For the
purposes hereof, the term “Foreign Exchange Rate”
means, for any particular currency, the spot rate for such currency
as quoted in the Wall Street Journal (to the extent that the Wall
Street Journal provides quotations therefore, or such other
resource that is mutually satisfactory to the Licensor and
Licensee) on the second Business Day prior to the date on which any
relevant payment hereunder is due.

 

 

 

23

 

 

 

 

(j) Waiver. No failure or delay by
any Party in exercising any right, power or privilege hereunder
shall operate as a waiver thereof nor shall any single or partial
exercise thereof preclude any other or further exercise thereof or
the exercise of any other right, power or privilege. No terms or
provisions hereof shall be deemed waived and no breach consented to
or excused, unless such waiver, excuse or consent shall be in
writing and signed by the Party claimed to have waived or
consented. Any consent, waiver or excuse by any Party of a breach
of any provision of this Agreement shall not operate or be
construed as a waiver of any subsequent breach.

 

(k) Severability. If any provision of this Agreement is
found to be invalid, illegal or unenforceable, a modified provision
shall be substituted which carries out as nearly as possible the
original intent of the parties and the remaining provisions shall
in no way be affected thereby.

 

(l) Relationship of Parties.
 The Parties hereto
are independent contractors and shall not be deemed to be partners,
joint venturers or agents of the other.

 

(m) Section Headings. This
Agreement contains paragraph headings solely for the convenience of
the reader, and such headings shall not affect or provide any
interpretation as to the meaning of this Agreement or the
Parties’ intentions.

 

(n) Third-Party Beneficiaries. The
Parties acknowledge and agree that the indemnified parties
contemplated by Section
15 above are intended third-party beneficiaries of this
Agreement, and may enforce the terms relating to the
indemnification rights set forth in Section 15 directly against the
Parties. The Parties further acknowledge and agree that no other
Person is an intended third-party beneficiary under this Agreement,
including without limitation Retailers and
Distributors.

 

(o) Parties in Interest. This
Agreement shall inure to the benefit of and be binding upon the
Parties and their respective successors and permitted assigns.
Except as provided in Sections 19(n) and (o), nothing
in this Agreement, express or implied, is intended to confer upon
any Person other than Licensor, Licensee or their respective
successors or permitted assigns any rights or remedies under or by
reason of this Agreement.

 

(p) Further Assurances. From time
to time, at the request of any Party hereto, and at the expense of
the Party so requesting, the other Party shall execute and deliver
to the requesting Party such documents and take such other action
as such requesting Party may reasonably request in order to
consummate more effectively the transactions contemplated
hereby.

 

(q) No Implied Assignments or
Licenses. Except as expressly set forth herein, nothing in
this Agreement is to be construed as an assignment or grant of any
right, title, interest, license or sublicense in or to any
Intellectual Property owned by or licensed to Licensor or any of
its Affiliates, including, without limitation, the Licensed Marks.
All rights with respect to the Product IP and Licensor’s
other Intellectual Property, other than those expressly granted
herein, are reserved.

 

(r) Force Majeure. No Party hereto
shall be in default by reason of any failure in performance of this
Agreement if such failure arises directly out of causes reasonably
beyond the direct control of such Party, including, but not limited
to, acts of God or of the public enemy, acts of terrorism, U.S. or
foreign governmental acts in either a sovereign or contractual
capacity, fire, wind, flood, accident, epidemic, restrictions,
strikes or freight embargoes or because of any law, order,
proclamation, regulation or ordinance of any governmental authority
or any other unforeseeable act or action of like character.
Notwithstanding any other provision of this Agreement (i) Licensee
has a duty to mitigate its nonperformance and any damages caused by
any force majeure event under this Section 19(r), and (ii)
Licensor shall have the right to Terminate this Agreement following
an extended period of Licensee’s nonperformance caused by a
force majeure event under this Section 19(q), with the
duration of such period of time to be determined by Licensor in its
reasonable discretion.

 

 

 

24

 

 

 

 

(s) Remedies Not Exclusive. Neither
Party shall be relieved of its liability for any breach of this
Agreement or its obligations accruing or occurring prior to or
resulting from any Termination of this Agreement, howsoever
occasioned. Any specific remedies provided to Licensor under this
Agreement are not exclusive, and do not in any way limit or
restrict Licensor’s right or ability to pursue any and all
other remedies available to Licensor at law or equity.

 

(t) Counterparts; Facsimile. This
Agreement may be executed in counterparts, each of which shall be
deemed to be an original, and each of which alone and all of which
together, shall constitute one and the same instrument, but in
making proof of this Agreement it shall not be necessary to produce
or account for each copy of any counterpart other than the
counterpart signed by the Party against whom this Agreement is to
be enforced. This Agreement may be transmitted by facsimile or via
portable document format (.pdf), and it is the intent of the
Parties for the facsimile or .pdf image (or a photocopy thereof) of
any autograph printed by a receiving facsimile machine or
transmitted via .pdf to be an original signature and for the
facsimile (or a photocopy thereof) and any complete photocopy or
..pdf image of the Agreement to be deemed an original
counterpart.

 

(u) No Litigation. It is agreed by
the Parties that Licensor’s and its Affiliates’
exclusive right to the ownership of the Licensed Marks and any
trademarks, trade names, domain names or social media accounts (and
handles therefor) associated therewith and their right to control
the design, nature, and quality of any products sold under any of
their trademarks, shall not be the subject of litigation unless
Licensor, its Affiliates and their respective licensors
specifically consent thereto in writing, it being conceded by
Licensee that Licensor’s, its Affiliates’ and their
respective licensors’ right to ownership of any of their
trademarks (whether registered or not) is absolute, and if
resisted, may be enforced by Licensor, its Affiliates and their
respective licensors through any and all acts and proceedings
available to it under the law.

 

[Signatures
on Next Page]

 

 

 

25

 

IN
WITNESS WHEREOF the Parties hereto have duly executed and delivered
this License Agreement as follows:

 

 

	

LICENSOR:

MOTOROLA MOBILITY LLC

 

 

	

LICENSEE:

ZOOM TELEPHONICS, INC.

	

By:
/s/ David
Carroll

	

By:
/s/ Joseph
Wytanis

	

Name:
David Carroll

	

Name:
Joseph Wytanis

	

Title:
Executive Director, Brand Licensing

	

Title:
President & CEO

	

Date:
3/26/2020

	

Date:
3/26/2020

 

	
 

	

 

LICENSEE:

MTRLC, LLC.

 

	
 

	

By:
/s/ Joseph
Wytanis

	
 

	

Name:
Joseph Wytanis

	
 

	

Title:
President & CEO

	
 

	

Date:
3/26/2020

 

 

 

26

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