Document:

Exhibit 10.1

 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

 

This Amended and Restated
Employment Agreement (this “Agreement”) is made and entered into as of January 3, 2022 (the “Effective
Date”), by and between Kiniksa Pharmaceuticals Corp., a Delaware corporation (the “Company”), and Eben Tessari
(the “Employee”).

 

WHEREAS, the operations of
the Company and its Affiliates (as defined below) are a complex matter requiring direction and leadership in a variety of arenas;

 

WHEREAS, the Employee is currently
serving as the Company’s Senior Vice President, Chief Business Officer and possesses certain experience and expertise that qualify
Employee to provide the direction and leadership required by the Company and its Affiliates;

 

WHEREAS, the Company and the
Employee are parties to an Amended and Restated Employment Agreement dated as of May 29, 2018 (the “Original Agreement”);
and

 

WHEREAS, the Company and the
Employee wish to amend and restate the Original Agreement in accordance with the terms and conditions set forth in this Agreement.

 

NOW, THEREFORE, in consideration
of the foregoing premises and the mutual promises, terms, provisions and conditions set forth in this Agreement, the Company and Employee
hereby agree:

 

1.             Definitions.
Words or phrases that are initially capitalized or are within quotation marks shall have the meanings provided in this Section and
as provided elsewhere herein. For purposes of this Agreement, the following definitions apply:

 

(a)            “Affiliates”
shall mean all persons and entities directly or indirectly controlling, controlled by or under common control with the Company, where
control may be by management authority, contract or equity interest.

 

(b)           “Cause”
shall mean:

 

(i)            The
Employee’s gross negligence or willful misconduct in performance of Employee’s duties to the Company, where such gross negligence
or willful misconduct has resulted in or reasonably could result in material damage to the Company or any of its Affiliates or successors;
or

 

(ii)           The
Employee’s commission of any act of fraud, embezzlement or professional dishonesty with respect to the business of the Company
or any of its Affiliates; or

 

(iii)          The
Employee’s commission of a felony or crime involving moral turpitude; or

 

(iv)          The
Employee’s material breach of any provision of this Agreement or any other written agreement between Employee and the Company;
or

 

(v)           The
Employee’s failure to comply with lawful directives of the Company, which has caused or which reasonably could cause damage to
the Company or any of its Affiliates or successors.

 

    

     

    

 

(c)            “Change
in Control” shall mean:

 

(i)            a
sale of all or substantially all of the Parent’s assets; or

 

(ii)           any
merger, consolidation or other business combination transaction of the Parent with or into another corporation, entity or person, other
than a transaction in which the holders of at least a majority of the shares of voting capital shares of the Parent outstanding immediately
prior to such transaction continue to hold (either by such shares remaining outstanding or by their being converted into shares of voting
capital shares of the surviving entity) a majority of the total voting power represented by the shares of voting capital shares of the
Parent (or the surviving entity) outstanding immediately after such transaction; or

 

(iii)          the
direct or indirect acquisition (including by way of a tender or exchange offer) by any person, or persons acting as a group, of beneficial
ownership or a right to acquire beneficial ownership of shares representing a majority of the voting power of the then outstanding shares
of capital shares of the Parent. Notwithstanding the foregoing, a Change in Control shall not be deemed to occur:

 

(A)            on
account of the acquisition of shares of voting capital shares by any institutional investor or any affiliate thereof or any other person,
or persons acting as a group, that acquires the Parent’s shares of voting capital shares in a transaction or series of related
transactions that are primarily a private financing transaction for the Parent, or

 

(B)            solely
because the level of ownership held by any institutional investor or any affiliate thereof or any other person, or persons acting as
a group (the “Subject Person”), exceeds the designated percentage threshold of the outstanding voting capital shares
as a result of a repurchase or other acquisition of voting capital shares by the Parent reducing the number of shares outstanding, provided
that if a Change in Control would occur (but for the operation of this sentence) as a result of the acquisition voting capital shares
by the Parent, and after such share acquisition, the Subject Person becomes the owner of any additional voting capital shares that, assuming
the repurchase or other acquisition had not occurred, increases the percentage of the then outstanding voting capital shares owned by
such Subject Person over the designated percentage threshold, then a Change in Control shall be deemed to occur.

 

(d)           “Code”
shall mean the Internal Revenue Code of 1986, as amended, and the rules and regulations promulgated thereunder.

 

(e)            “Employee
Benefit Plan” shall have the meaning ascribed to such term in Section 3(3) of the Employee Retirement Income Security
Act of 1974, as amended.

 

(f)            “Founder
Invention and Non-Disclosure Agreement” shall mean the Founder Invention and Non-Disclosure Agreement between the Employee
and Company dated as of September 16, 2015.

 

(g)            “Founder
Non-Competition and Non-Solicitation Agreement” shall mean the Founder Non-Competition and Non-Solicitation Agreement between
the Employee and Company dated as of September 16, 2015.

 

    2

     

    

 

(h)            “Parent”
shall mean the Company’s parent entity, Kiniksa Pharmaceuticals, Ltd., a Bermuda exempted company.

 

(i)             “Parent
Board” shall mean the board of directors of the Parent.

 

(j)             “Person”
shall mean an individual, a corporation, a limited liability company, an association, a partnership, an estate, a trust and any other
entity or organization, other than the Company or any of its Affiliates.

 

2.             Acceptance
and Term. Subject to the terms and conditions set forth in this Agreement, the Company hereby offers, and the Employee hereby accepts,
employment and/or continuing employment on an at-will basis. Subject to earlier termination as hereinafter provided, the Employee’s
employment shall continue until terminated pursuant to Section 5 hereof (the “Term”).

 

3.             Position,
Duties and Responsibilities.

 

(a)            During
the Term, the Employee shall initially serve the Company as its Senior Vice President, Chief Operating Officer and shall initially report
to the Chief Executive Officer. During the Term, the Employee shall be employed by the Company on a full-time basis and shall perform
the duties and responsibilities of Employee’s position.

 

(b)            During
the Term, the Employee shall devote Employee’s full business time and Employee’s best efforts, business judgment, skill and
knowledge exclusively to the advancement of the business and interests of the Company and its Affiliates and to the discharge of Employee’s
duties and responsibilities hereunder. During the Term, the Employee shall not engage in any other business activity or serve in any
industry, trade, professional, governmental or academic position unless Employee first has obtained consent from the Chief Executive
Officer of the Company.

 

(c)            Immediately
upon termination of Employee’s employment with the Company for any reason, Employee will be deemed to resign any and all positions
held by Employee, whether as an officer or director of the Company, the Parent or any Affiliate of the Company, or as a member of any
committees thereof.

 

4.             Compensation
and Benefits. As compensation for all services performed by the Employee during the Term and subject to the Employee’s performance
of Employee’s duties and obligations to the Company and its Affiliates, pursuant to this Agreement or otherwise, the Company shall
provide the Employee with the following compensation and benefits:

 

(a)            Base
Salary. The Company shall pay the Employee an annual base salary of $444,960, payable in accordance with the Company’s standard
payroll practices and procedures and subject to change from time-to-time in the Company’s sole discretion (such base salary, as
from time-to-time changed, the “Base Salary”).

 

(b)            Discretionary
Bonus Compensation. During the Term, the Employee shall be eligible to receive an annual cash bonus (“Discretionary Annual
Bonus”) with an initial target level of 40% of Employee’s Base Salary (the “Target Bonus”). The applicable
performance goals shall be determined by the Company as soon as practicable at the beginning of each calendar year. The actual Discretionary
Annual Bonus for each calendar year, if any, shall be determined in the sole and absolute discretion of the Company and shall be paid
to Employee no later than March 15th of the calendar year immediately following the calendar year in which it was earned.
For the avoidance of doubt, the Company reserves the right to not pay any Discretionary Annual Bonuses even if all performance goals
are achieved or exceeded.

 

    3

     

    

 

(c)            Vacation.
During the Term, the Employee shall be entitled to earn vacation at the rate of four (4) weeks per year, to be taken at such times
and intervals as shall be determined by the Employee, subject to the reasonable business needs of the Company. Vacation shall otherwise
be governed by the policies of the Company, as in effect from time-to-time.

 

(d)            Other
Benefits. During the Term, the Employee shall be entitled to participate, to the extent eligible, in any and all Employee Benefit
Plans from time-to-time in effect for employees of the Company generally, except to the extent any such Employee Benefit Plan is in a
category of benefit otherwise provided to the Employee under this Agreement (e.g., a severance pay plan). Such participation shall be
subject to the terms of the applicable plan documents and generally applicable Company policies. The Company may alter, modify, add to
or discontinue its Employee Benefit Plans at any time as it, in its sole judgment, determines to be appropriate, without recourse by
the Employee.

 

(e)            Business
Expenses. The Company shall pay or reimburse the Employee for all reasonable business expenses incurred or paid by the Employee in
the performance of Employee’s duties and responsibilities hereunder, subject to reasonable substantiation and documentation and
the Company’s standard expense reimbursement policies and procedures.

 

5.             Termination
of Employment and Severance Benefits. The Employee’s employment with the Company shall terminate under the following circumstances:

 

(a)            Death.
In the event of the Employee’s death, the Employee’s employment hereunder shall immediately and automatically terminate.

 

(b)            Disability.

 

(i)            The
Company may terminate the Employee’s employment hereunder, upon notice to the Employee, in the event that the Employee becomes
disabled during Employee’s employment hereunder through any illness, injury, accident or condition of either a physical or psychological
nature and, as a result, is unable to perform substantially all of Employee’s duties and responsibilities hereunder, notwithstanding
the provision of any reasonable accommodation, for ninety (90) consecutive days.

 

(ii)            The
Parent Board may designate another employee to act in the Employee’s place during any period of the Employee’s disability.
Notwithstanding any such designation, the Employee shall continue to receive the Base Salary in accordance with Section 4(a) and
benefits in accordance with Section 4(d), to the extent permitted by the then-current terms of the applicable benefit plans, until
the Employee becomes eligible for disability income benefits under any disability income plan or until the termination of Employee’s
employment, whichever shall first occur.

 

(iii)           While
receiving disability income payments under any disability income plan, the Employee shall not be entitled to receive any Base Salary under
Section 4(a) hereof, but shall continue to participate in Company benefit plans in accordance with Section 4(d) and
the terms of such plans, until the termination of Employee’s employment.

 

    4

     

    

 

(c)            By
the Company for Cause. The Company may terminate the Employee’s employment hereunder for Cause at any time upon written notice
to the Employee setting forth in reasonable detail the nature of such Cause.

 

(d)            By
the Company Other than for Cause. The Company may terminate the Employee’s employment hereunder other than for Cause at any
time upon written notice to the Employee.

 

(e)            By
the Employee. The Employee may terminate Employee’s employment hereunder at any time upon forty-five (45) days’ notice
to the Company. In the event of termination of the Employee pursuant to this Section 5(e), the Company may elect to waive the period
of notice, or any portion thereof.

 

6.             Severance
Payments and Other Matters Related to Separation from Service.

 

(a)            Final
Compensation. Following the termination of the Employee’s employment for any reason, the Company shall pay to the Employee:
(i) any Base Salary earned but not paid during the final payroll period of the Employee’s employment through the date of termination,
(ii) pay for any vacation time earned but not used through the date of termination, (iii) any unpaid Discretionary Annual Bonus
due to Employee for the calendar year prior to the year in which the termination occurs, and (iv) any business expenses incurred
by the Employee but unreimbursed on the date of termination, provided that such expenses and required substantiation and documentation
are submitted within thirty (30) days of termination and that such expenses are reimbursable under Company policy (all of the foregoing,
 “Final Compensation”). Any Base Salary and any earned, unused vacation time shall be paid to the Employee at the time
required by law, but not later than the Company’s next regular pay date following the date of termination. Any reimbursable business
expenses shall be paid within sixty (60) days following the date that the Employee submits such expenses to the Company. Other than as
expressly provided in Section 6(b), the Company shall have no further obligation to the Employee hereunder.

 

(b)            Severance.
In the event the Employee’s employment terminates pursuant to Section 5(a), 5(b) or 5(d) of this Agreement, in addition
to Final Compensation, (i) the vesting of all unvested equity awards of Parent or its Affiliates that vest solely based on the passage
of time then held by Employee (including, without limitation, restricted stock, restricted stock units, stock options or other equity-based
awards, whether granted to or held by Employee either before or after the date of this Agreement) shall accelerate by twelve (12) months
(for the avoidance of doubt, any equity awards that vest in whole or in part based on the attainment of performance-vesting conditions
shall be governed by the terms of the applicable award agreement rather than this clause (i)); and (ii) the Company shall pay the
Employee (A) a lump sum equal to the Base Salary divided by twelve (12), then multiplied by the number of months of the Severance
Period (as defined below) (such payment, the “Severance Payment”), (B) the Post-Termination Bonus (as defined
below), and (C) an additional one-time bonus of $16,500 (such payment, the “One-Time Bonus”). Subject to Sections
6(d) and 7(a) of this Agreement (x) the Severance Payment and the One-Time Bonus shall be paid by the sixtieth (60th)
day following the date of termination and (y) the Post-Termination Bonus shall be paid at or around the time that annual bonuses
are paid to other similarly situated employees of the Company, but in no event later than March 15 of the year following the year
in which the Separation from Service occurs; provided that if the termination occurs during the twelve (12) month period following a
Change in Control, (i) the Post-Termination Bonus shall be paid by the sixtieth (60th) day following the date of termination and
(ii) notwithstanding the provisions of the Parent’s 2018 Incentive Award Plan, the Parent’s 2015 Equity Incentive Plan
or any other equity plan, the Employee shall be immediately 100% fully vested in all unvested equity awards of Parent or its Affiliates
that vest solely based on the passage of time (including, without limitation, restricted stock, restricted stock units, stock options
or other equity-based awards, whether granted to or held by Employee either before or after the date of this Agreement, and for the avoidance
of doubt, with any equity awards that vest in whole or in part based on the attainment of performance-vesting conditions being governed
by the terms of the applicable award agreement rather than this clause (ii)). The “Severance Period” shall be nine
(9) months; provided, that if the Employee’s separation from service occurs during the twelve (12) months following a Change
in Control, then the Severance Period shall be twelve (12) months.

 

    5

     

    

 

(c)            Post-Termination
Bonus. For the purposes of this Agreement, the “Post-Termination Bonus” shall be a pro-rata share of the Target
Bonus for the calendar year in which the termination occurs; provided that if the termination occurs in the twelve (12) month period following
a Change in Control, the Post-Termination Bonus shall be equal to the Target Bonus for the calendar year in which such termination occurs.

 

(d)            Release
of Claims. The Employee’s right to receive the payments and benefits set forth in Section 6(b) is conditioned on the
Employee’s signing and returning to the Company (and not revoking) a general release of claims in the form provided by the Company
at the time the Employee’s employment is terminated (the “Employee Release”). The Employee must sign and return
the Employee Release, if at all, by the deadline specified therein, which deadline shall in no event be later than the sixtieth (60th)
calendar day following the termination date. The Employee Release shall take effect on the expiration of any revocation period specified
therein.

 

(e)            Effect
of Termination. Payment by the Company of Final Compensation and the payments and benefits set forth in Section 6(b) shall
constitute the sole obligations of the Company in connection with the termination of the Employee’s employment hereunder. Except
for any right of the Employee to continue medical and dental plan participation in accordance with applicable law, benefits shall terminate
pursuant to the terms of the applicable benefit plans based on the date of termination of the Employee’s employment without regard
to any of the payments set forth in Section 6(b).

 

(f)            Survival.
Provisions of this Agreement shall survive any termination if so provided herein or if necessary or desirable to accomplish the purposes
of other surviving provisions, including without limitation the obligations of the Employee under Section 8 hereof. The obligation
of the Company to make, and the right of the Employee to retain, any payments or benefits set forth in Section 6(b) is expressly
conditioned upon the Employee’s continued full performance of obligations under Section 8, the Founder Invention and Non-Disclosure
Agreement, and the Founder Non-Solicitation and Non-Competition Agreement.

 

7.             Timing
of Payments and Section 409A.

 

(a)            Notwithstanding
anything to the contrary in this Agreement, if at the time of the Employee’s termination of employment, the Employee is a Specified
Employee (as defined below), such amounts that may be subject to the Specified Employee rules set forth at (a)(2)(B)(i) of
Section 409A of the Code (“Section 409A”) and payable under Section 6 on account of such Separation
from Service (as defined below) that would (but for this provision) be payable within six (6) months following the date of termination,
shall instead be paid on the next business day following the expiration of such six (6) month period.

 

    6

     

    

 

(b)            For
purposes of this Agreement, “Separation from Service” shall be determined in a manner consistent with subsection (a)(2)(A)(i) of
Section 409A, and the term “Specified Employee” shall mean an individual determined by the Company to be a specified
employee as defined in subsection (a)(2)(B)(i) of Section 409A.

 

(c)            Each
payment made under this Agreement shall be treated as a separate payment and the right to a series of installment payments under this
Agreement is to be treated as a right to a series of separate payments.

 

(d)            The
Employee’s right to reimbursement for business expenses hereunder shall be subject to the following additional rules: (i) the
amount of expenses eligible for reimbursement during any calendar year shall not affect the expenses eligible for reimbursement in any
other taxable year, (ii) reimbursement shall be made not later than December 31 of the calendar year following the calendar
year in which the expense was incurred, and (iii) the right to reimbursement is not subject to liquidation or exchange for any other
benefit.

 

(e)            In
no event shall the Company have any liability relating to any payment or benefit under this Agreement failing to comply with, or be exempt
from, the requirements of Section 409A.

 

8.             Confidentiality;
Cooperation

 

(a)            Confidentiality
and Other Covenants. As a condition of Employee’s employment with the Company, the Employee has executed the Founder Invention
and Non-Disclosure Agreement and the Founder Non-Solicitation and Non-Competition Agreement, each of which the Company and Employee acknowledge
and agree shall be considered a separate contract. In addition, Employee represents and warrants that Employee shall be able to and/or
will continue to perform the duties of Employee’s position without utilizing any material confidential and/or proprietary information
that Employee may have obtained in connection with employment with any prior employer, and that Employee shall not (i) disclose
any such information to the Company, or (ii) induce any Company employee to use any such information, in either case in violation
of any confidentiality obligation, whether by agreement, by operation of law or otherwise.

 

(b)            Litigation
and Regulatory Cooperation. During and after Employee’s employment, Employee shall reasonably cooperate with the Company in
the defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of the
Company which relate to events or occurrences that transpired while the Company employed Employee; provided that, the Employee will not
have an obligation under this paragraph with respect to any claim that the Employee has filed directly against the Company or related
persons or entities. The Employee’s reasonable cooperation in connection with such claims or actions shall include, but not be limited
to, being available to meet with counsel to prepare for discovery or trial and to act as a witness on behalf of the Company at mutually
convenient times. During and after Employee’s employment, Employee also shall reasonably cooperate with the Company in connection
with any investigation or review of any federal, state or local regulatory authority as any such investigation or review relates to events
or occurrences that transpired while Employee was employed by the Company, provided Employee will not have any obligation under this paragraph
with respect to any claim that Employee has filed directly against the Company or related persons or entities. The Company shall reimburse
Employee for any reasonable out-of-pocket expenses incurred in connection with Employee’s performance of obligations pursuant to
this Section 8(b).

 

    7

     

    

 

9.             Section 280G;
Limitations on Payment

 

(a)            If
any payment or benefit Employee shall or may receive from the Company or otherwise (a “280G Payment”) would (i) constitute
a “parachute payment” within the meaning of Section 280G of the Code, and (ii) but for this sentence, be subject
to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then any such 280G Payment provided
pursuant to this Agreement (a “Payment”) shall be equal to the Reduced Amount. The “Reduced Amount” shall
be either (x) the largest portion of the Payment that would result in no portion of the Payment (after reduction) being subject
to the Excise Tax or (y) the largest portion, up to and including the total, of the Payment, whichever amount (i.e., the amount
determined by clause (x) or by clause (y)), after taking into account all applicable federal, state and local employment taxes,
income taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in Employee’s receipt, on an after-tax
basis, of the greater economic benefit notwithstanding that all or some portion of the Payment may be subject to the Excise Tax. If a
reduction in a Payment is required pursuant to the preceding sentence and the Reduced Amount is determined pursuant to clause (x) of
the preceding sentence, the reduction shall occur in the manner (the “Reduction Method”) that results in the greatest
economic benefit for Employee. If more than one method of reduction shall result in the same economic benefit, the items so reduced shall
be reduced pro rata (the “Pro Rata Reduction Method”).

 

(b)            Notwithstanding
any provision of Section 9(a) to the contrary, if the Reduction Method or the Pro Rata Reduction Method would result in any
portion of the Payment being subject to taxes pursuant to Section 409A that would not otherwise be subject to taxes pursuant to
Section 409A, then the Reduction Method and/or the Pro Rata Reduction Method, as the case may be, shall be modified so as to avoid
the imposition of taxes pursuant to Section 409A as follows: (i) as a first priority, the modification shall preserve to the
greatest extent possible, the greatest economic benefit for Employee as determined on an after-tax basis; (ii) as a second priority,
Payments that are contingent on future events (e.g., being terminated without Cause), shall be reduced (or eliminated) before
Payments that are not contingent on future events; and (iii) as a third priority, Payments that are “deferred compensation”
within the meaning of Section 409A shall be reduced (or eliminated) before Payments that are not deferred compensation within the
meaning of Section 409A.

 

(c)            Unless
Employee and the Company agree on an alternative accounting firm or law firm, the accounting firm engaged by the Company for general
tax compliance purposes as of the day prior to the effective date of the change of control transaction shall perform the foregoing calculations.
If the accounting firm so engaged by the Company is serving as accountant or auditor for the individual, entity or group effecting the
change of control transaction, the Company shall appoint a nationally recognized accounting or law firm to make the determinations required
by this Section 9. The Company shall bear all expenses with respect to the determinations by such accounting or law firm required
to be made hereunder. The Company shall use commercially reasonable efforts to cause the accounting or law firm engaged to make the determinations
hereunder to provide its calculations, together with detailed supporting documentation, to Employee and the Company within fifteen (15)
calendar days after the date on which Employee’s right to a 280G Payment becomes reasonably likely to occur (if requested at that
time by Employee or the Company) or such other time as requested by Employee or the Company.

 

(d)            If
Employee receives a Payment for which the Reduced Amount was determined pursuant to clause (x) of Section 9(a) and the
Internal Revenue Service determines thereafter that some portion of the Payment is subject to the Excise Tax, Employee agrees to promptly
return to the Company a sufficient amount of the Payment (after reduction pursuant to clause (x) of Section 9(a)) so that no
portion of the remaining Payment is subject to the Excise Tax. For the avoidance of doubt, if the Reduced Amount was determined pursuant
to clause (y) of Section 9(a), Employee shall have no obligation to return any portion of the Payment pursuant to the preceding
sentence.

 

    8

     

    

 

(e)            Notwithstanding
anything contained herein to the contrary, the requirements of this Section 9 shall apply only to the extent the Company has completed
an “initial public offering” which results in the Company’s stock being publicly traded on an applicable public exchange.

 

10.           Indemnification.
The Company shall indemnify the Employee to the extent provided in its then current Certificate of Incorporation or Bye-Laws. The Employee
agrees to promptly notify the Company of any actual or threatened claim arising out of or as a result of Employee’s employment with
the Company.

 

11.           Withholding.
All payments made by the Company under this Agreement shall be reduced by any tax or other amounts required to be withheld by the Company
under applicable law.

 

12.           Assignment.

 

(a)            Neither
the Company nor the Employee may make any assignment of this Agreement or any interest herein, by operation of law or otherwise, without
the prior written consent of the other; provided, however, that the Company may assign its rights and obligations under this Agreement
without the consent of the Employee in the event that (i) the Employee is transferred to a position with any of the Affiliates or
(ii) the Company shall hereafter effect a reorganization, consolidate with, or merge into, any Person or transfer all or substantially
all of its properties or assets to any Person. This Agreement shall inure to the benefit of and be binding upon the Company and the Employee,
their respective successors, executors, administrators, heirs and permitted assigns.

 

(b)            The
Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially
all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the
same extent that the Company would be required to perform it if no such succession had taken place. As used in this Agreement, “Company”
shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid.

 

13.           Severability.
If any covenants or such other provisions of this Agreement are found to be invalid or unenforceable by a final determination of a court
of competent jurisdiction, (a) the remaining terms and provisions hereof shall be unimpaired, and (b) the invalid or unenforceable
term or provision hereof shall be deemed replaced by a term or provision that is valid and enforceable and that comes closest to expressing
the intention of the invalid or unenforceable term or provision hereof.

 

14.           Waiver.
No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving party. The failure of either party
to require the performance of any term or obligation of this Agreement, or the waiver by either party of any breach of this Agreement,
shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach.

 

    9

     

    

 

15.           Notices.
Any and all notices, requests, demands and other communications provided for by this Agreement shall be in writing and shall be effective
when delivered in person, consigned to a reputable national courier service or deposited in the United States mail, postage prepaid,
registered or certified, and addressed to the Employee at Employee’s last known address on the books of the Company or, in the
case of the Company, at its principal place of business, attention of the Compensation Committee of the Parent Board with a copy to the
attention of the General Counsel or Chief Legal Officer, as applicable, or to such other address as either party may specify by notice
to the other actually received. Any notice so addressed shall be deemed to be given or received (a) if delivered by hand, on the
date of such delivery, (b) if mailed by courier or by overnight mail, on the first business day following the date of such mailing,
and (c) if mailed by registered or certified mail, on the third business day after the date of such mailing.

 

16.           Entire
Agreement. This Agreement, together with the Founder Invention and Non-Disclosure Agreement and the Founder Non-Solicitation and
Non-Competition Agreement, constitute the entire understanding and agreement of the Company and the Employee regarding the terms and
conditions of Employee’s employment with the Company. This Agreement, together with the Founder Invention and Non-Disclosure Agreement
and the Founder Non-Solicitation and Non-Competition Agreement, supersedes all prior negotiations, discussions, correspondence, communications,
understandings, and agreements between the Company and the Employee (including any offer letter given to Employee) relating to the subject
matter of this Agreement, including without limitation, the Original Agreement. Notwithstanding the foregoing, the Company and the Employee
acknowledge that the Employee holds restricted stock of the Parent subject to a Restricted Stock Agreement and that options and other
equity awards have been, and subject to the discretion and approval of the Parent Board, may be granted to Employee under and pursuant
to the Parent’s 2015 Equity Incentive Plan and any amendments thereto, as well as additional grants under the Parent’s 2018
Incentive Award Plan or any additional equity plans of the Parent or its Affiliates, and the award agreements related to such plans (collectively,
the “Awards”); and to the extent that the terms of this Agreement (including without limitation, Section 6(b))
accelerate the vesting of any such Awards, then the terms of this Agreement are intended to be in addition to the vesting provisions
of such Awards and are not intended to diminish any vesting rights contained in such Awards.

 

17.           Amendment.
This Agreement may be amended or modified only by a written instrument signed by the Employee and by an expressly authorized representative
of the Company.

 

18.           Headings.
The headings and captions in this Agreement are for convenience only and in no way define or describe the scope or content of any provision
of this Agreement.

 

19.           Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be an original and all of which together shall constitute
one and the same instrument.

 

20.           Governing
Law. This is a Massachusetts contract and shall be construed and enforced under and be governed in all respects by the laws of the
Commonwealth of Massachusetts, without regard to the conflict of laws principles thereof. The Company and Employee agree that any dispute
concerning this Agreement shall be heard exclusively by a court of competent jurisdiction within the Commonwealth of Massachusetts. By
signing below, Employee acknowledges that Employee is subject to the personal jurisdiction of the Massachusetts courts in any county where
the Company has operations or facilities. The Employee and Company further agree that any such dispute shall be tried by a judge alone,
and they hereby waive and forever renounce the right to a trial before a civil jury in any such dispute.

 

[Remainder of Page Intentionally Left Blank]

 

    10

     

    

 

IN WITNESS WHEREOF, this Agreement
has been executed as a sealed instrument by the Company, by its duly authorized representative, and by the Employee, as of the Effective
Date.

 

	EMPLOYEE 	 	KINIKSA PHARMACEUTICALS CORP.
	 	 	 
	/s/ Eben Tessari   	 	By:	/s/ Melissa Manno
	Name:	Eben Tessari	 	Name:	Melissa Manno
	 	 	Title:	SVP, Chief Human Resources Officer

 

    11Exhibit 10.1

 

EXECUTION VERSION

 

FIRST AMENDMENT dated as of
December 29, 2021 (this “Amendment”), among DIGITAL TURBINE, INC., a Delaware corporation (“Holdings”),
DIGITAL TURBINE MEDIA, INC., a Delaware corporation (“DT Media”), DIGITAL TURBINE USA, INC., a Delaware corporation
(“DT USA” and, together with Holdings and DT Media, collectively or each individually as the context requires, the
 “Borrower”), the other Loan Parties party hereto, BANK OF AMERICA, N.A., as Administrative Agent and the other LENDERS
party hereto.

 

WHEREAS, reference is made to
the Amended and Restated Credit Agreement, dated as of April 29, 2021 (as amended, restated, supplemented or otherwise modified from time
to time prior to the date hereof, the “Existing Credit Agreement”), among the Borrower, certain subsidiaries of the
Borrower party thereto (the “Guarantors” and, together with the Borrower, the “Loan Parties”), the
lenders party thereto (the “Existing Lenders”), Bank of America, N.A., as Administrative Agent, Swingline Lender and
L/C Issuer, and certain other parties thereto.

 

WHEREAS, pursuant to Section
2.16 of the Credit Agreement, the Borrower has requested a Revolving Commitment Increase in an aggregate principal amount equal to $125,000,000
(the “2021 Revolving Commitments”; the Revolving Lenders in respect thereof, the “2021 Revolving Lenders”;
the loans in respect thereof, the “2021 Revolving Loans”);

 

WHEREAS, in accordance with
Section 2.16 of the Credit Agreement, the 2021 Revolving Commitments shall constitute an increase to the Revolving Commitments outstanding
under the Credit Agreement before giving effect to this Amendment (the “Existing Revolving Commitments”; the Revolving
Lenders in respect thereof, the “Existing Revolving Lenders”; the loans in respect thereof, the “Existing
Revolving Loans”) with the same terms;

 

WHEREAS, the 2021 Revolving
Lenders are severally willing to provide 2021 Revolving Commitments on the First Amendment Effective Date (as defined below), subject
to the terms and conditions set forth in this Amendment;

 

WHEREAS, BofA Securities, Inc.,
is acting as sole lead arranger (in such capacity, the “Lead Arranger”) to this Amendment; and

 

WHEREAS, the Borrower, the Administrative
Agent and each 2021 Revolving Lender party hereto have agreed to amend the Credit Agreement subject to the terms and conditions set forth
in this Amendment.

 

NOW, THEREFORE, in consideration
of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto hereby agree as follows:

 

SECTION 1. Defined Terms.
Capitalized terms used and not otherwise defined herein (including in the recitals hereto) have the meanings assigned to them in the Amended
Credit Agreement (as defined below).

 

SECTION 2. First Amendment
Transactions.

 

(a) Subject to the terms
and conditions herein, each 2021 Revolving Lender severally agrees to provide 2021 Revolving Commitments to the Borrower on the
First Amendment Effective Date in the amount set forth opposite such 2021 Revolving Lender’s name on Schedule 1 hereto.
All Letters of Credit outstanding under the Credit Agreement on the First Amendment Effective Date shall remain outstanding under
the Credit Agreement. Each Revolving Lender’s risk participation in each such Letter of Credit shall be determined in
accordance with such Revolving Lender’s pro rata share, as if such Letter of Credit had been issued on the First Amendment
Effective Date immediately after giving effect to the Amendment.

 

     

     

    

 

(b) Immediately after the occurrence
of the First Amendment Effective Date, the 2021 Revolving Lenders shall purchase and sell among themselves (in such manner as the Administrative
Agent may reasonably direct) outstanding Revolving Loans and participation interests in outstanding L/C Advances and Swingline Loans such
that each Revolving Lender holds (i) participation interests in outstanding L/C Advances, (ii) participation interests in outstanding
Swingline Loans and (iii) Revolving Loans, ratably in accordance with such Revolving Lender’s Applicable Percentage, after giving
effect to the 2021 Revolving Commitments. In addition, each party hereto acknowledges and agrees that on the First Amendment Effective
Date each Revolving Lender shall participate ratably in accordance with its Applicable Percentage, after giving effect to the 2021 Revolving
Commitments, in any Letters of Credit and Swingline Loans issued or borrowed under the Credit Agreement. The Borrower and the 2021 Revolving
Lenders hereby authorize the Administrative Agent to update the Register to reflect the reallocations described in this Section.

 

(c) For the avoidance of doubt,
on and after the First Amendment Effective Date, (i) the Existing Revolving Commitments and the 2021 Revolving Commitments shall each
constitute a single Class of Commitments under the Credit Agreement and (ii) the Existing Revolving Loans and the 2021 Revolving Loans
shall each constitute a single Class of Loans under the Credit Agreement.

 

(d) On the First Amendment Effective
Date, the Borrower, the Administrative Agent and each 2021 Revolving Lender party hereto irrevocably consents to this Amendment and all
modifications to the Credit Agreement contemplated hereby.

 

(e) No 2021 Revolving Loans
will be requested or made on the First Amendment Effective Date.

 

SECTION 3. Amendments to
the Credit Agreement. The Existing Credit Agreement (excluding all Schedules and Exhibits thereto, each of which shall remain as in
effect immediately prior to the First Amendment Effective Date) is hereby amended to delete the stricken text (indicated textually in
the same manner as the following example: stricken text) and to add the single-underlined text (indicated textually in
the same manner as the following example: single-underlined text) as set forth in the pages of the Existing Credit Agreement attached
as Annex A hereto. The Existing Credit Agreement, as amended pursuant to this Section, is referred to as the “Amended Credit
Agreement”; the Existing Credit Agreement and the Amended Credit Agreement are sometimes referred to as the “Credit
Agreement”.

 

SECTION 4. Representations
and Warranties. To induce the other parties hereto to enter into this Amendment, each Loan Party represents and warrants to the other
parties hereto on the First Amendment Effective Date that, both before and after giving effect to the 2021 Revolving Commitments and assuming
that the full amount of the 2021 Revolving Commitments is funded:

 

(a) this Amendment has been
duly authorized, executed and delivered by such Loan Party, and this Amendment and the Amended Credit Agreement constitute its legal,
valid and binding obligation, enforceable against it in accordance with its terms;

 

     

     

    

 

(b) the representations
and warranties made by the Loan Parties in Articles II and V of the Amended Credit Agreement or the other Loan Documents (1) that
contain a materiality qualification, are true and correct, on and as of the First Amendment Effective Date and (2) that do not
contain a materiality qualification, are true and correct in all material respects, on and as of the First Amendment Effective Date;
except (x) the representations and warranties contained in clauses (a) and (b) of Section 5.05 of the Amended Credit Agreement shall
be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01 of the
Amended Credit Agreement and (y) any representation that by its terms is made only as of an earlier date, shall remain true and
correct in all material respects (or in the case of such representations and warranties that are subject to a materiality
qualification, in all respects) as of such earlier date;

 

(c) no Default or Event of Default
has occurred and is continuing or would exist after giving effect to such 2021 Revolving Commitments on the First Amendment Effective
Date;

 

(d) as of the First Amendment
Effective Date, the information included in the Beneficial Ownership Certification is true and correct in all respects; and

 

(e) as of the First Amendment
Effective Date, the Loan Parties are in Pro Forma Compliance with each of the financial covenants set forth in Section 7.11 of the Amended
Credit Agreement.

 

SECTION 5. Effectiveness.
The effectiveness of this Amendment, including the effectiveness of the transactions as set forth
in Section 2 hereof and the amendments to the Existing Credit Agreement as set forth in Section 3 hereof, are subject to the satisfaction
of the following conditions precedent (the first date on which such conditions precedent are satisfied is referred to as the “First
Amendment Effective Date”):

 

(a) the Administrative Agent
shall have executed a counterpart hereof, and the Administrative Agent shall have received a counterpart hereof signed on behalf of the
Borrower, each other Loan Party and each 2021 Revolving Lender party hereto (which, subject to Section 11.18 of the Amended Credit Agreement,
may include any Electronic Signatures transmitted by fax, emailed .pdf or any other electronic means that reproduces an image of an actual
executed signature page);

 

(b) the Administrative Agent
shall have received a certificate signed by a Responsible Officer of each Loan Party (i) certifying that the articles of incorporation
or formation of such Loan Party, certified by the appropriate Governmental Authority of the state of incorporation or formation of such
Loan Party, and the bylaws, operating agreement or comparable governing document of such Loan Party, in each case, either (A) have not
been amended since the copy thereof most recently delivered by such Loan Party to the Administrative Agent or (B) are attached as an exhibit
to such certificate and that such documents or agreements have not been amended (except as otherwise attached to such certificate and
certified therein as being the only amendments thereto as of the First Amendment Effective Date), (ii) certifying that attached thereto
are the resolutions of the board of directors or other comparable governing body of such Loan Party approving and adopting this Amendment
and the transactions contemplated herein and authorizing execution and delivery hereof, and that such resolutions are true and correct
and in force and effect as of the First Amendment Effective Date, (iii) certifying as to the incumbency and genuineness of the signatures
of the officers or other authorized signatories of such Loan Party executing this Amendment and (iv) attaching the good standing certificates
described in clause (c) below;

 

(c) the Administrative Agent
shall have received a certificate of good standing, existence or its equivalent with respect to each Loan Party certified as of a recent
date by the appropriate Governmental Authority of the state of incorporation or formation of such Loan Party;

 

(d) the Administrative
Agent shall have received favorable legal opinions of Jackson Walker L.L.P. and, if requested by the Administrative Agent, local
counsel for the Loan Parties, addressed to the Administrative Agent and the Lenders party hereto and in form and substance
satisfactory to the Administrative Agent;

 

     

     

    

 

(e) the Administrative Agent
shall have received a certificate of the chief financial officer (or other officer with reasonably equivalent responsibilities) of the
Borrower substantially in the form of Exhibit I to the Credit Agreement, certifying that the Borrower and its Subsidiaries, taken as a
whole, after giving effect to the transactions contemplated hereunder, are solvent;

 

(f) the Administrative Agent
shall have received a certificate executed by a Responsible Officer of each Loan Party and dated as of the First Amendment Effective Date
certifying as to the accuracy of the representations and warranties set forth in Section 4 hereof;

 

(g) the Administrative Agent
shall have received, at least three Business Days prior to the First Amendment Effective Date, (i) all documentation and other information
required by regulatory authorities with respect to the Loan Parties under applicable “know your customer” and anti-money laundering
rules and regulations, including, without limitation, the Patriot Act and (ii) if the Borrower qualifies as a “legal entity customer”
under the Beneficial Ownership Regulation, a Beneficial Ownership Certification in relation to the Borrower, in each case of clauses (i)
and (ii), that has been reasonably requested by the Administrative Agent in writing at least 10 Business Days in advance of the First
Amendment Effective Date;

 

(h) all fees and expenses required
to be paid or reimbursed by the Borrower hereunder, under the Existing Credit Agreement or any separate letter agreements to which the
Borrower is a party (in the case of expenses, to the extent invoiced at least three Business Days prior to the First Amendment Effective
Date or such later date to which the Borrower may agree) shall have been paid;

 

(i) the Administrative Agent
shall have received the results of recent UCC lien, judgment and tax searches with respect to each Loan Party; and

 

(j) the Borrower shall have
paid to the Lead Arranger (on behalf of each 2021 Revolving Lender) an upfront fee of 0.25% of the aggregate principal amount of each
such 2021 Revolving Lender’s 2021 Revolving Commitment made available hereunder, in each case, on the First Amendment Effective
Date. Such upfront fee shall be for the 2021 Revolving Lenders’ participation in the transactions hereunder and shall be payable
in full on the First Amendment Effective Date.

 

Notwithstanding the foregoing,
this Amendment, including the effectiveness of the transactions as set forth in Section 2 hereof, the amendments to the Existing Credit
Agreement as set forth in Section 3 hereof and the obligations of each 2021 Revolving Lender to provide a 2021 Revolving Commitment, shall
not become effective unless each of the foregoing conditions is satisfied on or prior to 3 p.m. (New York City time) on December 31, 2021
(and, in the event that such conditions are not so satisfied, the 2021 Revolving Commitments shall terminate at such time).

 

SECTION 6. Effect of Amendment.

 

(a)
        Except as expressly set forth herein, this Amendment shall not by implication or otherwise
limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders or the Administrative Agent under
the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms,
conditions, obligations, covenants or agreements contained in the Credit Agreement or any other provision of the Credit Agreement or
of any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect.
Nothing herein shall be deemed to entitle the Borrower to a consent to, or a waiver, amendment, modification or other change of, any
of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document in
similar or different circumstances. The parties hereto acknowledge and agree that the amendment of the Credit Agreement pursuant to
this Amendment and all other Loan Documents amended and/or executed and delivered in connection herewith shall not constitute a
novation of the Credit Agreement and the other Loan Documents as in effect prior to the First Amendment Effective Date.

 

     

     

    

 

(b)        From
and after the First Amendment Effective Date, (i) each reference in the Credit Agreement to “this Agreement”, “hereunder”,
 “hereof”, “herein”, or words of like import, and each reference to the “Credit Agreement” in any other
Loan Document, shall be deemed a reference to the Amended Credit Agreement and (ii) each reference in any Loan Document to the “Revolving
Lender”, “Revolving Commitment” or “Revolving Facility” shall include 2021 Revolving Lenders or 2021 Revolving
Commitments, as applicable. This Amendment shall constitute a “Loan Document” for all purposes of the Credit Agreement and
the other Loan Documents.

 

(c)        Each
Loan Party hereby (i) acknowledges that it has reviewed the terms and provisions of this Amendment, (ii) ratifies and reaffirms all of
its payment and performance obligations, contingent or otherwise, under each of the Loan Documents to which it is a party (in the case
of the Existing Credit Agreement, as amended hereby), (iii) ratifies and reaffirms each grant of a Lien on, or security interest in, its
property made pursuant to the Loan Documents (including, without limitation, the grant of security interests by such Loan Party and the
pledges by such Loan Party, as applicable, pursuant to the Security Agreement) and confirms that such Liens and security interests continue
to secure the Obligations under the Loan Documents, subject to the terms thereof, (iv) acknowledges and agrees that each Loan Document
to which it is a party (in the case of the Existing Credit Agreement, as amended hereby) shall continue and remain in full force and effect
and all of its obligations thereunder shall be valid and enforceable and not be impaired or limited by the execution of this Amendment
and (v) in the case of each Guarantor, ratifies and reaffirms its guaranty of the Obligations, Secured Obligations, and Guaranteed Obligations
pursuant to Section 10.01 of the Amended Credit Agreement.

 

(d) Each party hereto acknowledges
that this Amendment constitutes all notices or requests required under Section 2.16 of the Amended Credit Agreement.

 

SECTION 7. Indemnification.
The Borrower hereby confirms that the indemnification and expense reimbursement provisions set forth in Section 11.04 of the Amended Credit
Agreement shall apply to this Amendment and the transactions contemplated hereby.

 

SECTION 8. Amendments; Severability.

 

(a) This Amendment may not be
amended nor may any provision hereof be waived except pursuant to Section 11.01 of the Amended Credit Agreement.

 

(b) Any provision of this Amendment
which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition
or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction
shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

SECTION 9. GOVERNING LAW;
Waiver of Jury Trial; Jurisdiction. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY,
AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. The provisions of Sections 11.14 and 11.15 of
the Amended Credit Agreement are incorporated herein by reference, mutatis mutandis.

 

     

     

    

 

SECTION 10. Headings.
Section headings herein are included for convenience of reference only and shall not affect the interpretation of this Amendment.

 

SECTION 11. Counterparts.
This Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument. Delivery by facsimile or other electronic imaging means of an executed counterpart of a signature
page to this Amendment shall be effective as delivery of an original executed counterpart of this Amendment. The words “execution”,
 “signed”, “signature”, “delivery” and words of like import in this Amendment shall be deemed to include
Electronic Signatures, deliveries or the keeping of records in any electronic form (including deliveries by facsimile or by email as a
 “.pdf” or “.tif” attachment that reproduces an image of an actual executed signature page), each of which shall
be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based
recordkeeping system, as the case may be.

 

[Remainder of page intentionally left blank]

 

     

     

    

 

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

 

	 	
    DIGITAL TURBINE, INC.

    DIGITAL TURBINE MEDIA, INC.

    DIGITAL TURBINE USA,
INC.

	 	 
	 	By:	/s/ Barrett Garrison
	 	 	Name:	Barrett Garrison
	 	 	Title:	Chief Financial Officer

 

[Signature
Page to First Amendment] 

 

     

     

    

 

	 	MOBILE POSSE, INC.

                    ADCOLONY, INC.

                    ADCOLONY HOLDINGS US, INC.

	 	 
	 	By:	/s/ Barrett Garrison
	 	 	Name:	Barrett Garrison
	 	 	Title:	Chief Financial Officer

  

[Signature
Page to First Amendment] 

 

     

     

    

 

	 	BANK OF AMERICA, N.A., as Administrative Agent
	 	 
	 	By:	/s/ Linda Mackey 
	 	 	Name:	Linda Mackey 
	 	 	Title:	Vice President

 

[Signature
Page to First Amendment] 

 

     

     

    

 

	 	BANK OF AMERICA, N.A., as a 2021 Revolving Lender, Swingline Lender, and
    L/C Issuer
	 	 
	 	By:	/s/ Adam Rose
	 	 	Name:	Adam Rose
	 	 	Title:	SVP

 

[Signature
Page to First Amendment] 

 

     

     

    

 

	 	WELLS FARGO BANK, N.A., as a 2021 Revolving Lender
	 	 
	 	By:	/s/ Clayton Scovill
	 	 	Name:	Clayton Scovill
	 	 	Title:	Sr. RM - Tech. Banking Group

 

[Signature
Page to First Amendment] 

 

     

     

    

 

	 	PNC BANK, NATIONAL ASSOCIATION, as a 2021 Revolving Lender
	 	 
	 	By:	/s/ R. Ruining Nguyen
	 	 	Name:	R. Ruining Nguyen
	 	 	Title:	Senior Vice President

 

[Signature
Page to First Amendment] 

 

     

     

    

   

	 	CAPITAL ONE, N.A., as a 2021 Revolving Lender
	 	 
	 	By:	/s/ Andy Welicky 
	 	 	Name:	Andy Welicky
	 	 	Title:	Duly Authorized Signatory

 

[Signature
Page to First Amendment] 

 

     

     

    

  

	 	JPMORGAN CHASE BANK, N.A., as a 2021 Revolving Lender
	 	 
	 	By:	/s/ Caitlin Stewart 
	 	 	Name:	Caitlin Stewart 
	 	 	Title:	Executive Director 

 

[Signature
Page to First Amendment] 

 

     

     

    

 

	 	BOKF N.A. dba Bank of Texas, as a 2021 Revolving Lender
	 	 
	 	By:	/s/ Santiago Acuna
	 	 	Name:	Santiago Acuna
	 	 	Title:	Vice President – Corporate Banking

 

[Signature
Page to First Amendment] 

 

     

     

    

 

ANNEX A

 

 

AMENDMENTS TO CREDIT AGREEMENT

 

[Attached]

 

     

     

    

 

 

Conforming Copy reflecting the 

First Amendment, 

dated as of December 29, 2021

 

 

	
    Deal CUSIP: 25400XAA8

    Facility CUSIP: 25400XAB6

     

     

    AMENDED AND RESTATED CREDIT AGREEMENT

     

    Dated as of April 29, 2021,

    and as amended on December 29, 2021,

     

    among

     

    DIGITAL TURBINE, INC.,

    DIGITAL TURBINE MEDIA, INC. and

    DIGITAL TURBINE USA, INC.

    as the Borrowers,

     

    CERTAIN SUBSIDIARIES OF THE BORROWERS PARTY HERETO,

    as the Guarantors,

     

    BANK OF AMERICA, N.A.,

    as Administrative Agent, Swingline Lender and

    L/C Issuer,

     

    and

     

    THE LENDERS PARTY HERETO

     

    BOFA SECURITIES, INC., WELLS FARGO SECURITIES,
    LLC

    and

    PNC CAPITAL MARKETS LLC

    as Lead Arrangers and Bookrunners

     

    BOFA SECURITIES, INC., WELLS FARGO SECURITIES,
    LLC

    and

    PNC BANK, NATIONAL ASSOCIATION

    as Syndication Agents

     

    CAPITAL ONE, N.A. and JPMORGAN CHASE BANK, N.A.

    as Co-Documentation Agents

  

 

 

     

     

    

 

TABLE
OF CONTENTS

 

Page

 

	Article I DEFINITIONS AND ACCOUNTING TERMS	1
	 	 
		1.01	Defined Terms	1
		1.02	Other Interpretive Provisions	43
		1.03	Accounting Terms	44
		1.04	Rounding	45
		1.05	Times of Day	45
		1.06	Letter of Credit Amounts	45
		1.07	UCC Terms	45
		1.08	Rates	45
	 	 	 	 
	Article II COMMITMENTS AND CREDIT EXTENSIONS	46
	 	 
		2.01	Loans	46
		2.02	Borrowings, Conversions and Continuations of Loans	47
		2.03	Letters of Credit	48
		2.04	Swingline Loans	58
		2.05	Prepayments	61
		2.06	Termination or Reduction of Commitments	64
		2.07	Repayment of Loans	64
		2.08	Interest and Default Rate	65
		2.09	Fees	66
		2.10	Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate	66
		2.11	Evidence of Debt	67
		2.12	Payments Generally; Administrative Agent’s Clawback	68
		2.13	Sharing of Payments by Lenders	70
		2.14	Cash Collateral	71
		2.15	Defaulting Lenders	72
		2.16	Increase in Commitments	75
		2.17	Co-Borrower.	78
	 	 	 	 
	Article III TAXES, YIELD PROTECTION AND ILLEGALITY	79
	 	 
		3.01	Taxes	79
		3.02	Illegality	84
		3.03	Inability to Determine Rates	84
		3.04	Increased Costs; Reserves on Eurodollar Rate Loans	88
		3.05	Compensation for Losses	90
		3.06	Mitigation Obligations; Replacement of Lenders	91
		3.07	Survival	91
	 	 	 	 
	Article IV CONDITIONS PRECEDENT TO CREDIT EXTENSIONS	91
	 	 
		4.01	Conditions of Initial Credit Extension	91
		4.02	Conditions to all Credit Extensions	94

 

    i

     

    

 

	Article V REPRESENTATIONS AND WARRANTIES	95
	 	 
		5.01	Existence, Qualification and Power	95
		5.02	Authorization; No Contravention	95
		5.03	Governmental Authorization; Other Consents	95
		5.04	Binding Effect	96
		5.05	Financial Statements; No Material Adverse Effect	96
		5.06	Litigation	96
		5.07	No Default	96
		5.08	Ownership of Property	97
		5.09	Environmental Matters	97
		5.10	Insurance	98
		5.11	Taxes	98
		5.12	ERISA Compliance	98
		5.13	Margin Regulations; Investment Company Act	99
		5.14	Disclosure	100
		5.15	Compliance with Laws	100
		5.16	Solvency	100
		5.17	Casualty, Etc	100
		5.18	Sanctions Concerns and Anti-Corruption Laws	100
		5.19	Responsible Officers	101
		5.20	Subsidiaries; Equity Interests; Loan Parties	101
		5.21	Collateral Representations	102
		5.22	EEA Financial Institutions	103
		5.23	Covered Entities	104
		5.24	Beneficial Ownership Certification	104
		5.25	Intellectual Property; Licenses, Etc	104
		5.26	Labor Matters	104
	 	 	 	 
	Article VI AFFIRMATIVE COVENANTS	104
	 	 
		6.01	Financial Statements	104
		6.02	Certificates; Other Information	105
		6.03	Notices	108
		6.04	Payment of Obligations	109
		6.05	Preservation of Existence, Etc.	109
		6.06	Maintenance of Properties	109
		6.07	Maintenance of Insurance	109
		6.08	Compliance with Laws	111
		6.09	Books and Records	111
		6.10	Inspection Rights	111
		6.11	Use of Proceeds	111
		6.12	Material Contracts	111
		6.13	Covenant to Guarantee Obligations	112
		6.14	Covenant to Give Security	112
		6.15	Anti-Corruption Laws; Sanctions	113
		6.16	[Reserved]	113
		6.17	Further Assurances	114
		6.18	Post-Closing Matters	114

 

    ii

     

    

 

	Article VII NEGATIVE COVENANTS	114
	 	 
		7.01	Liens	114
		7.02	Indebtedness	116
		7.03	Investments	118
		7.04	Fundamental Changes	121
		7.05	Dispositions	122
		7.06	Restricted Payments	123
		7.07	Change in Nature of Business	123
		7.08	Transactions with Affiliates	123
		7.09	Burdensome Agreements	124
		7.10	Use of Proceeds	125
		7.11	Financial Covenants	125
		7.12	Amendments of Organization Documents; Fiscal Year; Legal Name, State of Formation; Form of Entity
and Accounting Changes	125
		7.13	Sale and Leaseback Transactions	126
		7.14	Prepayments, Etc. of Junior Indebtedness	126
		7.15	Amendment, Etc. of Junior Indebtedness	126
		7.16	Sanctions	126
		7.17	Anti-Corruption Laws	126
	 	 	 	 
	Article VIII EVENTS OF DEFAULT AND REMEDIES	127
	 	 
		8.01	Events of Default	127
		8.02	Remedies upon Event of Default	129
		8.03	Application of Funds	130
	 	 	 	 
	Article IX ADMINISTRATIVE AGENT	131
	 	 
		9.01	Appointment and Authority	131
		9.02	Rights as a Lender	132
		9.03	Exculpatory Provisions	132
		9.04	Reliance by Administrative Agent	133
		9.05	Delegation of Duties	134
		9.06	Resignation of Administrative Agent	134
		9.07	Non-Reliance on Administrative Agent, the Arrangers or Documentation Agents and the Other Lenders	135
		9.08	No Other Duties, Etc.	136
		9.09	Administrative Agent May File Proofs of Claim; Credit Bidding	136
		9.10	Collateral and Guaranty Matters	137
		9.11	Secured Cash Management Agreements and Secured Hedge Agreements	138
		9.12	Certain ERISA Matters	138
		9.13	Recovery of Erroneous Payments	139

 

    iii

     

    

 

	Article X CONTINUING GUARANTY	139
	 	 
		10.01	Guaranty	139
		10.02	Rights of Lenders	140
		10.03	Certain Waivers	140
		10.04	Obligations Independent	140
		10.05	Subrogation	140
		10.06	Termination; Reinstatement	141
		10.07	Stay of Acceleration	141
		10.08	Condition of Borrower	141
		10.09	Appointment of Holdings	141
		10.10	Right of Contribution	142
		10.11	Keepwell	142
	 	 	 	 
	Article XI MISCELLANEOUS	142
	 	 
		11.01	Amendments, Etc.	142
		11.02	Notices; Effectiveness; Electronic Communications	145
		11.03	No Waiver; Cumulative Remedies; Enforcement	147
		11.04	Expenses; Indemnity; Damage Waiver	148
		11.05	Payments Set Aside	150
		11.06	Successors and Assigns	150
		11.07	Treatment of Certain Information; Confidentiality	156
		11.08	Right of Setoff	157
		11.09	Interest Rate Limitation	158
		11.10	Counterparts; Integration; Effectiveness	158
		11.11	Survival of Representations and Warranties	158
		11.12	Severability	159
		11.13	Replacement of Lenders	159
		11.14	Governing Law; Jurisdiction; Etc.	160
		11.15	Waiver of Jury Trial	161
		11.16	Subordination	162
		11.17	No Advisory or Fiduciary Responsibility	162
		11.18	Electronic Execution; Electronic Records	163
		11.19	USA Patriot Act Notice	164
		11.20	Acknowledgement and Consent to Bail-In of Affected Financial Institutions	164
		11.21	Acknowledgement Regarding Any Supported QFCs	165
		11.22	Time of the Essence	166
		11.23	Amendment and Restatement; Ratification of Prior Liens and Loan Documents	166
		11.24	Entire Agreement	166

 

    iv

     

    

 

	SCHEDULES	 
	 	 	 
	 	Schedule
    1.01(a)	Certain Addresses
    for Notices 
	 	Schedule
    1.01(b)	Initial Commitments and Applicable
    Percentages 
	 	Schedule
    1.01(c)	Responsible Officers 
	 	Schedule
    2.01	Swingline Commitment 
	 	Schedule
    2.03	Letter of Credit Commitments 
	 	Schedule
    5.10	Insurance 
	 	Schedule
    5.12	Pension Plans 
	 	Schedule
    5.20(a)	Subsidiaries, Joint Ventures,
    Partnerships and Other Equity Investments 
	 	Schedule
    5.20(b)	Loan Parties 
	 	Schedule
    5.21(b)	Intellectual Property 
	 	Schedule
    5.21(c)	Documents, Instrument,
    and Tangible Chattel Paper 
	 	Schedule
    5.21(d)(i)	Deposit Accounts &
    Securities Accounts 
	 	Schedule
    5.21(d)(ii)	Electronic Chattel Paper &
    Letter-of-Credit Rights 
	 	Schedule
    5.21(e)	Commercial Tort Claims 
	 	Schedule
    5.21(f)	Pledged Equity Interests 
	 	Schedule
    5.21(g)	Properties 
	 	Schedule
    5.21(h)	Material Contracts 
	 	Schedule
    6.18	Post-Closing Matters 
	 	Schedule
    7.01	Existing Liens 
	 	Schedule
    7.02	Existing Indebtedness 
	 	Schedule
    7.03	Existing Investments
	 	 	 
	EXHIBITS	 
	 	 	 
	 	Exhibit A	Form of Administrative
    Questionnaire 
	 	Exhibit B	Form of Assignment and
    Assumption 
	 	Exhibit C	Form of Compliance Certificate 
	 	Exhibit D	Form of Joinder Agreement 
	 	Exhibit E	Form of Loan Notice 
	 	Exhibit F	Form of Permitted Acquisition
    Certificate 
	 	Exhibit G	Form of Revolving Note 
	 	Exhibit H	Form of Secured Party Designation
    Notice 
	 	Exhibit I	Form of Solvency Certificate 
	 	Exhibit J	Form of Swingline Loan
    Notice 
	 	Exhibit K	Form of Officer’s
    Certificate 
	 	Exhibit L	Forms of U.S. Tax Compliance
    Certificates 
	 	Exhibit M	[Reserved] 
	 	Exhibit N	Form of Financial Condition
    Certificate 
	 	Exhibit O	Form of Authorization to
    Share Insurance Information 
	 	Exhibit P	Form of Notice of Loan
    Prepayment

 

    v

     

    

 

 

 

AMENDED
AND RESTATED CREDIT AGREEMENT

 

This AMENDED AND RESTATED
CREDIT AGREEMENT is entered into as of April 29, 2021 (as amended on December 29, 2021, among DIGITAL TURBINE, INC.,
a Delaware corporation (“Holdings”), DIGITAL TURBINE MEDIA, INC., a Delaware corporation (“DT
Media”), DIGITAL TURBINE USA, INC., a Delaware corporation (“DT USA” and, together with Holdings
and DT Media, collectively or each individually as the context requires, the “Borrower”), the other Guarantors
(defined herein), the Lenders (defined herein), and BANK OF AMERICA, N.A., as Administrative Agent, Swingline Lender and L/C Issuer.

 

PRELIMINARY
STATEMENTS:

 

WHEREAS,
the Loan Parties (as hereinafter defined) are parties to that certain Credit Agreement dated as of February 3, 2021 among the Borrower,
the Guarantors party thereto, the administrative agent and the lenders party thereto (as amended or otherwise modified prior to the date
hereof, the “Existing Credit Agreement”);

 

WHEREAS,
the Loan Parties desire to amend and restate the Existing Credit Agreement to, among other things, effectuate certain amendments and refinance
the indebtedness outstanding thereunder;

 

WHEREAS,
the Loan Parties have requested that the Lenders, the Swingline Lender and the L/C Issuer make loans and other financial accommodations
to the Loan Parties in an aggregate amount of up to $400,000,000;

 

WHEREAS,
the Lenders, the Swingline Lender and the L/C Issuer have agreed to amend and restate the Existing Credit Agreement and make such loans
and other financial accommodations to the Loan Parties on the terms and subject to the conditions set forth herein; and

 

WHEREAS,
the Loan Parties have requested that, on the First Amendment Effective Date, (i) the 2021 Revolving Lenders make available 2021 Revolving
Commitments in an aggregate principal amount of $125,000,000 and (ii) this Agreement be amended as set forth herein, in each case,
pursuant to the First Amendment.

 

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

 

Article I

 

DEFINITIONS
AND ACCOUNTING TERMS

 

1.01            Defined
Terms.

 

As used in this Agreement,
the following terms shall have the meanings set forth below:

 

“2021 Revolving
Commitment” means, as to each 2021 Revolving Lender, its obligation to (a) make 2021 Revolving Loans to the Borrower
pursuant to Section 2.01(a), (b) purchase participations in L/C Obligations and (c) purchase participations in Swingline
Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such 2021 Revolving Lender’s
name on Schedule 1 to the First Amendment under the caption “2021 Revolving Commitment” or opposite such caption in the Assignment
and Assumption pursuant to which such 2021 Revolving Lender becomes a party hereto, as applicable, as such amount may be adjusted from
time to time in accordance with this Agreement.

 

     

     

    

 

“2021 Revolving
Lender” means, at any time, (a) so long as any 2021 Revolving Commitment is in effect, any Lender that has a 2021 Revolving
Commitment at such time or (b) if the 2021 Revolving Commitments have terminated or expired, any Lender that has a 2021 Revolving
Loan or a participation in L/C Obligations or Swingline Loans attributable to a 2021 Revolving Commitment at such time.

 

“2021 Revolving
Loans” means the Revolving Loans made by the 2021 Revolving Lenders, pursuant to Section 2.01(a).

 

“Acquisition”
means the acquisition, whether through a single transaction or a series of related transactions, of (a) a majority of the Voting
Stock or other controlling ownership interest in another Person (including the purchase of an option, warrant or convertible or similar
type security to acquire such a controlling interest at the time it becomes exercisable by the holder thereof), whether by purchase of
such equity or other ownership interest or upon the exercise of an option or warrant for, or conversion of securities into, such equity
or other ownership interest, or (b) assets of another Person which constitute all or substantially all of the assets of such Person
or of a division, line of business or other business unit of such Person.

 

“AdColony”
means AdColony Holding AS, a private limited liability company incorporated in the Kingdom of Norway.

 

“AdColony Acquisition”
means the sale by AdColony Holdco to, and the acquisition by, the Borrower, directly or indirectly through one or more wholly-owned Subsidiaries,
of one hundred percent (100%) of the issued and outstanding shares of AdColony pursuant to the terms and conditions of the AdColony Acquisition
Agreement.

 

“AdColony
Acquisition Agreement” means that certain Share Purchase Agreement dated as of February 26, 2021 among Holdings, DT
Media, AdColony and AdColony Holdco without giving effect to modifications, amendments, supplements, consents, waivers or requests
(including the effects of any such requests) that are materially adverse to the interests of the Lenders (in their capacity as such) which
have not been consented to by the Administrative Agent.

 

“AdColony Holdco”
means Otello Corporation ASA, a public limited liability company incorporated in the Kingdom of Norway.

 

“Additional Secured
Obligations” means (a) all obligations arising under Secured Cash Management Agreements and Secured Hedge Agreements
and (b) all costs and expenses incurred in connection with enforcement and collection of the foregoing, including the fees, charges
and disbursements of counsel, in each case whether direct or indirect (including those acquired by assumption), absolute or contingent,
due or to become due, now existing or hereafter arising and including interest, expenses and fees that accrue after the commencement by
or against any Loan Party or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such Person as the debtor in
such proceeding, regardless of whether such interest, expenses and fees are allowed claims in such proceeding; provided that Additional
Secured Obligations of a Guarantor shall exclude any Excluded Swap Obligations with respect to such Guarantor.

 

    2 

     

    

 

“Administrative
Agent” means Bank of America in its capacity as administrative agent and/or collateral agent under any of the Loan Documents,
or any successor administrative agent and/or collateral agent, as applicable

 

“Administrative
Agent’s Office” means the Administrative Agent’s address and, as appropriate, account as set forth
on Schedule 1.01(a), or such other address or account as the Administrative Agent may from time to time notify the Borrower and
the Lenders.

 

“Administrative
Questionnaire” means an Administrative Questionnaire in substantially the form of Exhibit A or any other form
approved by the Administrative Agent.

 

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

 

“Affiliate”
means, with respect to a specified Person, another Person that directly, or indirectly through one or more intermediaries, Controls or
is Controlled by or is under common Control with the Person specified.

 

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

 

“Agreement”
means this Credit Agreement, including all schedules, exhibits and annexes hereto.

 

“Applicable Law”
means, as to any Person, all applicable Laws binding upon such Person or to which such a Person is subject.

 

“Applicable
Percentage” means, in respect of the Revolving Facility, with respect to any Revolving Lender at any time, the
percentage (carried out to the ninth decimal place) of the Revolving Facility represented by such Revolving Lender’s Revolving
Commitment at such time, subject to adjustment as provided in Section 2.15. If the Commitment of all of the Revolving
Lenders to make Revolving Loans and the obligation of the L/C Issuer to make L/C Credit Extensions have been terminated pursuant to Section 8.02,
or if the Revolving Commitments have expired, then the Applicable Percentage of each Revolving Lender in respect of the Revolving
Facility shall be determined based on the Applicable Percentage of such Revolving Lender in respect of the Revolving Facility most
recently in effect, giving effect to any subsequent assignments and to any Lender’s status as a Defaulting Lender at the time
of determination. The Applicable Percentage of each Lender is set forth opposite the name of such Lender on Schedule
1.01(b) or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable.

 

    3 

     

    

 

“Applicable
Rate” means, except as otherwise provided in any Incremental Amendment with respect to the applicable Loans and Commitments
thereunder, for any day, the rate per annum set forth below opposite the applicable Level then in effect (based on the Consolidated Leverage
Ratio), it being understood that the Applicable Rate for (a) Revolving Loans that are Base Rate Loans shall be the percentage set
forth under the column “Base Rate”, (b) Revolving Loans that are Eurodollar Rate Loans shall be the percentage set forth
under the column “Eurodollar Rate & Letter of Credit Fee”, (c) the Letter of Credit Fee shall be the percentage
set forth under the column “Eurodollar Rate & Letter of Credit Fee”, and (d) the Commitment Fee shall be the
percentage set forth under the column “Commitment Fee”:

 

	Applicable
    Rate
	 
	Level	 	Consolidated 

    Leverage Ratio	 	Eurodollar
    Rate
 & Letter of Credit

    Fee	 	 	Base Rate	 	 	Commitment

    Fee	 
	1	 	Less than 1.0 to 1.0	 	 	1.500	%	 	 	0.500	%	 	 	0.150	%
	2	 	Greater than or equal to 1.0 to 1.0 but less than 2.0 to 1.0	 	 	1.750	%	 	 	0.750	%	 	 	0.200	%
	3	 	Greater than or equal to 2.0 to 1.0 but less than 3.0 to 1.00	 	 	2.000	%	 	 	1.000	%	 	 	0.300	%
	4	 	Greater than or equal to 3.0 to 1.0	 	 	2.250	%	 	 	1.250	%	 	 	0.350	%

 

Any increase or decrease in
the Applicable Rate resulting from a change in the Consolidated Leverage Ratio shall become effective as of the first Business Day immediately
following the date a Compliance Certificate is delivered pursuant to Section 6.02(a); provided, however, that
if a Compliance Certificate is not delivered when due in accordance with Section 6.02(a), then, upon the request of the Required
Lenders, Pricing Level 4 shall apply, in each case as of the first Business Day after the date on which such Compliance Certificate was
required to have been delivered and in each case shall remain in effect until the first Business Day following the date on which such
Compliance Certificate is delivered. In addition, at all times while the Default Rate is in effect, the highest rate set forth in each
column of the Applicable Rate shall apply.

 

Notwithstanding anything
to the contrary contained in this definition, (i) the determination of the Applicable Rate for any period shall be subject to
the provisions of Section 2.10(b) and (ii) the initial Applicable Rate shall be set at Pricing Level 2 until
the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(a) for
the first fiscal quarter to occur following the Closing Date to the Administrative Agent. Any adjustment in the Applicable Rate
shall be applicable to all Credit Extensions then existing or subsequently made or issued.

 

“Applicable Revolving
Percentage” means with respect to any Revolving Lender at any time, such Revolving Lender’s Applicable Percentage
in respect of the Revolving Facility at such time.

 

“Appropriate Lender”
means, at any time, (a) with respect to the Revolving Facility, a Lender that has a Commitment with respect to such Facility or holds
a Loan under such Facility at such time, (b) with respect to the Letter of Credit Sublimit, (i) the L/C Issuer and (ii) if
any Letters of Credit have been issued pursuant to Section 2.03, the Revolving Lenders and (c) with respect to the Swingline
Sublimit, (i) the Swingline Lender and (ii) if any Swingline Loans are outstanding pursuant to Section 2.04(a),
the Revolving Lenders.

 

    4 

     

    

 

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

 

“Arrangers”
means (i) (a) BofA Securities, Inc. and (b) Wells Fargo Securities, LLC, each in its capacity as lead arranger, bookrunner
and syndication agent, (ii) PNC Capital Markets LLC in its capacity as lead arranger and bookrunner and (iii) PNC Bank, National
Association in its capacity as syndication agent.

 

“Assignment and
Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the consent of any
party whose consent is required by Section 11.06(b)), and accepted by the Administrative Agent, in substantially the form
of Exhibit B or any other form (including an electronic documentation form generated by use of an electronic platform) approved
by the Administrative Agent.

 

“Attributable
Indebtedness” means, on any date, (a) in respect of any Capitalized Lease of any Person, the capitalized amount thereof
that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP, and (b) in respect of any Synthetic
Lease Obligation, the capitalized amount of the remaining lease or similar payments under the relevant lease or other applicable agreement
or instrument that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if such lease or other
agreement or instrument were accounted for as a Capitalized Lease.

 

“Audited Financial
Statements” means the audited Consolidated balance sheet of Holdings and its Subsidiaries for the fiscal year ended March 31,
2020, and the related Consolidated statements of income or operations, Shareholders’ Equity and cash flows for such fiscal year
of the Holdings and its Subsidiaries, including the notes thereto.

 

“Authorization
to Share Insurance Information” means the authorization substantially in the form of Exhibit O (or such other
form as required by each of the Loan Party’s insurance companies).

 

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

 

“Availability
Period” means the period from and including the Closing Date to the earliest of (i) the Maturity Date, (ii) the
date of termination of the Revolving Commitments pursuant to Section 2.06, and (iii) the date of termination of the Commitment
of each Revolving Lender to make Revolving Loans and of the obligation of the L/C Issuer to make L/C Credit Extensions pursuant to Section 8.02.

 

“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.

 

    5 

     

    

 

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

 

“Bank of America”
means Bank of America, N.A. and its successors.

 

“Base Rate”
means for any day a fluctuating rate of interest per annum equal to the highest of (a) the Federal Funds Rate plus 0.50%,
(b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate,”
and (c) the Eurodollar Rate plus 1.00%, subject to the interest rate floors set forth therein; provided that if the
Base Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement. The “prime rate” is a rate
set by Bank of America based upon various factors including Bank of America’s costs and desired return, general economic conditions
and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate.
Any change in such prime rate announced by Bank of America shall take effect at the opening of business on the day specified in the public
announcement of such change. If the Base Rate is being used as an alternate rate of interest pursuant to Section 3.03 hereof,
then the Base Rate shall be the greater of clauses (a) and (b) above and shall be determined without reference
to clause (c) above.

 

“Base Rate Loan”
means a Revolving Loan or an Incremental Term Loan that bears interest based on the Base Rate.

 

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

 

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

 

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

 

“BHC Act Affiliate”
of a party means an “affiliate” (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of
such party.

 

“Borrower”
has the meaning specified in the introductory paragraph hereto.

 

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

 

“Borrowing”
means a borrowing consisting of simultaneous Loans of the same Type and Class and, in the case of Eurodollar Rate Loans, having
the same Interest Period made by each of the applicable Lenders pursuant to Section 2.01.

 

    6 

     

    

 

“Business Day”
means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under the Laws of, or are in
fact closed in, the state where the Administrative Agent’s Office is located and, if such day relates to any Eurodollar Rate Loan,
means any such day that is also a London Banking Day.

 

“Capitalized Lease”
means any lease that has been or is required to be, in accordance with GAAP, recorded, classified and accounted for as a capitalized lease
or financing lease.

 

“Cash Collateralize”
means to pledge and deposit with or deliver to the Administrative Agent, for the benefit of one or more of the L/C Issuer or Swingline
Lender (as applicable) or the Lenders, as Collateral for L/C Obligations, the Obligations in respect of Swingline Loans, or obligations
of the Revolving Lenders to fund participations in respect of L/C Obligations or Swingline Loans (as the context may require), (a) cash
or deposit account balances, (b) backstop letters of credit entered into on terms, from issuers and in amounts satisfactory to the
Administrative Agent and the applicable L/C Issuer, and/or (c) if the Administrative Agent and the applicable L/C Issuer or Swingline
Lender shall agree, in their sole discretion, other credit support, in each case, in Dollars and pursuant to documentation in form and
substance satisfactory to the Administrative Agent and the L/C Issuer or the Swingline Lender (as applicable). “Cash Collateral”
and other like terms shall have respective meanings correlative to the foregoing and Cash Collateral shall include the proceeds of such
Cash Collateral and other credit support.

 

“Cash Equivalents”
means any of the following types of Investments, to the extent owned by the Borrower or any of its Subsidiaries free and clear of all
Liens (other than Permitted Liens):

 

(a)            readily
marketable obligations issued or directly and fully guaranteed or insured by the United States or any agency or instrumentality thereof
having maturities of

not more than three hundred sixty days
(360) days from the date of acquisition thereof; provided that the full faith and credit of the United States is pledged in support
thereof;

 

(b)            time
deposits with, or insured certificates of deposit or bankers’ acceptances of, any commercial bank that (i) (A) is a Lender
or (B) is organized under the laws of the United States, any state thereof or the District of Columbia or is the principal banking
subsidiary of a bank holding company organized under the laws of the United States, any state thereof or the District of Columbia, and
is a member of the Federal Reserve System, (ii) issues (or the parent of which issues) commercial paper rated as described in clause
(c) of this definition and (iii) has combined capital and surplus of at least $1,000,000,000, in each case with maturities
of not more than ninety (90) days from the date of acquisition thereof;

 

(c)            commercial
paper issued by any Person organized under the laws of any state of the United States and rated at least “Prime-1” (or the
then equivalent grade) by Moody’s or at least “A-1” (or the then equivalent grade) by S&P, in each case with maturities
of not more than one hundred eighty (180) days from the date of acquisition thereof; and

 

(d)            Investments,
classified in accordance with GAAP as current assets of the Borrower or any of its Subsidiaries, in money market investment programs registered
under the Investment Company Act of 1940, which are administered by financial institutions that have the highest rating obtainable from
either Moody’s or S&P, and the portfolios of which are limited solely to Investments of the character, quality and maturity
described in clauses (a), (b) and (c) of this definition.

 

    7 

     

    

 

“Cash Management
Agreement” means any agreement that is not prohibited by the terms hereof to provide treasury or cash management services,
including deposit accounts, overnight draft, credit cards, debit cards, p-cards (including purchasing cards and commercial cards), funds
transfer, automated clearinghouse, zero balance accounts, returned check concentration, controlled disbursement, lockbox, account reconciliation
and reporting and trade finance services and other cash management services.

 

“Cash Management
Bank” means any Person in its capacity as a party to a Cash Management Agreement that, (a) at the time it enters into
a Cash Management Agreement with a Loan Party or any Subsidiary, is a Lender or an Affiliate of a Lender, in its capacity as a party to
such Cash Management Agreement (even if such Person ceases to be a Lender or such Person’s Affiliate ceased to be a Lender); provided,
however, that for any of the foregoing to be included as a “Secured Cash Management Agreement” on any date of determination
by the Administrative Agent, the applicable Cash Management Bank (other than the Administrative Agent or an Affiliate of the Administrative
Agent) must have delivered a Secured Party Designation Notice to the Administrative Agent prior to such date of determination.

 

“CERCLA”
means the Comprehensive Environmental Response, Compensation and Liability Act of 1980.

 

“CERCLIS”
means the Comprehensive Environmental Response, Compensation and Liability Information System maintained by the U.S. Environmental Protection
Agency.

 

“CFC”
means a Person that is a controlled foreign corporation under Section 957 of the Code in which the Borrower or any Loan Party is
a United States shareholder within the meaning of Section 951(b) of the Code.

 

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

 

    8 

     

    

 

“Change of Control”
means an event or series of events by which:

 

(a)            any
“person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act
of 1934, but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity as
trustee, agent or other fiduciary or administrator of any such plan) becomes the “beneficial owner” (as defined in Rules 13d-3
and 13d-5 under the Securities Exchange Act of 1934, except that a person or group shall be deemed to have “beneficial ownership”
of all securities that such person or group has the right to acquire, whether such right is exercisable immediately or only after the
passage of time (such right, an “option right”)), directly or indirectly, of 35% or more of the equity securities of
Holdings entitled to vote for members of the board of directors or equivalent governing body of Holdings on a fully-diluted basis (and
taking into account all such securities that such “person” or “group” has the right to acquire pursuant to any
option right); or

 

(b)            during
any period of twelve (12) consecutive months, a majority of the members of the board of directors or other equivalent governing body
of Holdings cease to be composed of individuals (i) who were members of that board or equivalent governing body on the first
day of such period, (ii) whose election or nomination to that board or equivalent governing body was nominated, appointed or
approved by individuals referred to in clause (i) above constituting at the time of such election or nomination at least
a majority of that board or equivalent governing body or (iii) whose election or nomination to that board or other
equivalent governing body was nominated, appointed or approved by individuals referred to in clauses (i) and
(ii) above constituting at the time of such election or nomination at least a majority of that board or equivalent
governing body; or

 

(c)            Holdings
shall cease to own and control, of record and beneficially, directly or indirectly, 100% of the aggregate ordinary voting power represented
by the issued and outstanding Equity Interests of DT Media and DT USA on a fully diluted basis (which for this purpose shall exclude all
Equity Interests that have not yet vested).

 

“Class”
when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are Revolving Loans
or Incremental Term Loans and, when used to reference any Commitment, refers to whether such Commitment is a Revolving Commitment or an
Incremental Term Loan Commitment.

 

“Closing Date”
means the date hereof.

 

“Code”
means the Internal Revenue Code of 1986.

 

“Collateral”
means all of the “Collateral” referred to in the Collateral Documents and all of the other property that is or is intended
under the terms of the Collateral Documents to be subject to Liens in favor of the Administrative Agent for the benefit of the Secured
Parties.

 

“Collateral and
Guarantee Requirement” means, at any time, the requirement that:

 

(a)            the
Administrative Agent shall have received each Collateral Document required to be delivered from time to time pursuant to ‎Section 6.14,
‎Section 6.17 or ‎Section 6.18,
subject to the limitations and exceptions of this Agreement, duly executed by each Loan Party party thereto;

 

    9 

     

    

 

(b)            the
Obligations and the Guaranty shall have been secured by a perfected security interest in, and Mortgages on, substantially all now owned
or, in the case of real property, fee owned, or at any time hereafter acquired tangible and intangible assets of each Loan Party (including
Equity Interests, intercompany debt, accounts, inventory, equipment, investment property, contract rights, intellectual property, other
general intangibles, Material Real Property and proceeds of the foregoing), in each case, subject to exceptions and limitations otherwise
set forth in this Agreement and the Collateral Documents (to the extent appropriate in the applicable jurisdiction), in each case with
the priority required by the Collateral Documents;

 

(c)            subject
to limitations and exceptions of this Agreement and the Collateral Documents, to the extent a security interest in and Mortgages on
any Material Real Property are required pursuant to clause (b) above or under Sections 6.14 or 6.17 (each, a
“Mortgaged Property”), the Administrative Agent shall have received (i) counterparts of a Mortgage
with respect to such Mortgaged Property duly executed and delivered by the record owner of such property, together with
evidence such Mortgage has been duly executed, acknowledged and delivered by a duly authorized officer of each party thereto, in
form suitable for filing or recording in all filing or recording offices that the Administrative Agent may reasonably deem necessary
or desirable in order to create a valid and subsisting perfected Lien (subject only to Liens described in clause (ii) below) on
the property and/or rights described therein in favor of the Administrative Agent for the benefit of the Secured Parties, and
evidence that all filing and recording taxes and fees have been paid or otherwise provided for in a manner reasonably satisfactory
to the Administrative Agent (it being understood that if a mortgage tax will be owed on the entire amount of the indebtedness
evidenced hereby, then the amount secured by the Mortgage shall be limited to 100% of the fair market value of the property at the
time the Mortgage is entered into if such limitation results in such mortgage tax being calculated based upon such fair market
value), (ii) fully paid American Land Title Association Lender’s policies of title insurance (or marked-up title
insurance commitments having the effect of policies of title insurance) on the Mortgaged Property naming the Administrative Agent as
the insured for its benefit and that of the Secured Parties and their respective successors and assigns (the “Mortgage
Policies”) issued by a nationally recognized title insurance company reasonably acceptable to the Administrative Agent
in form and substance and in an amount reasonably acceptable to the Administrative Agent (not to exceed 100% of the fair market
value of the real properties covered thereby), insuring the Mortgages to be valid subsisting first priority Liens on the property
described therein, free and clear of all Liens other than Liens permitted pursuant to Section 7.01 or Liens otherwise
consented to by the Administrative Agent, each of which shall (A) to the extent reasonably necessary, include such coinsurance
and reinsurance arrangements (with provisions for direct access, if reasonably necessary) as shall be reasonably acceptable to the
Administrative Agent, (B) contain a “tie-in” or “cluster” endorsement, if available under applicable
law (i.e., policies which insure against losses regardless of location or allocated value of the insured property up to a stated
maximum coverage amount), and (C) have been supplemented by such endorsements as shall be reasonably requested by the
Administrative Agent (including endorsements on matters relating to usury, first loss, zoning, contiguity, doing business, public
road access, variable rate, environmental lien, subdivision, mortgage recording tax, separate tax lot, revolving credit and
so-called comprehensive coverage over covenants and restrictions), to the extent such endorsements are available in the applicable
jurisdiction at commercially reasonable rates, (iii) opinions from local counsel in each jurisdiction (A) where a
Mortgaged Property is located regarding the enforceability and perfection of the Mortgage and any related fixture filings and
(B) where the applicable Loan Party granting the Mortgage on said Mortgaged Property is organized, regarding the due
authorization, execution and delivery of such Mortgage, and in each case, such other matters as may be in form and substance
reasonably satisfactory to the Administrative Agent, (iv) a completed “life of the loan” Federal Emergency
Management Agency Standard Flood Hazard Determination with respect to each Mortgaged Property (together with a notice about special
flood hazard area status and flood disaster assistance), duly executed and acknowledged by the appropriate Loan Parties, together
with evidence of flood insurance, to the extent required under Section 6.07(c) hereof; provided that no
mortgage over a Material Real Property may be executed unless the Administrative Agent has received such Standard Flood Hazard
Determination and all other information needed to satisfy the Lenders’ flood insurance requirements, in each case, with
respect to such Material Real Property, and (v) a new ALTA or such existing surveys together with no-change affidavits
sufficient for the title company to remove all standard survey exceptions from the Mortgage Policies and issue the endorsements
required in clause (ii) above.

 

    10 

     

    

 

“Collateral Documents”
means, collectively, the Security Agreement, the Qualifying Control Agreements, each Joinder Agreement, each Mortgage, each of the collateral
assignments, security agreements, pledge agreements, account control agreements or other similar agreements delivered to the Administrative
Agent pursuant to Section 6.14, and each of the other agreements, instruments or documents that creates or purports to create
a Lien in favor of the Administrative Agent for the benefit of the Secured Parties.

 

“Commitment”
means a Revolving Commitment and/or an Incremental Term Loan Commitment, as the context may require.

 

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

 

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

 

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

 

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

 

“Consolidated”
means, when used with reference to financial statements or financial statement items of Holdings and its Subsidiaries or any other Person,
such statements or items on a consolidated basis in accordance with the consolidation principles of GAAP.

 

“Consolidated
EBITDA” means, for any period, the sum of the following determined on a Consolidated basis, without
duplication, for Holdings and its Subsidiaries in accordance with GAAP, (a) Consolidated Net Income for the most recently
completed Measurement Period plus (b) the following to the extent deducted in calculating such Consolidated Net Income
(without duplication): (i) Consolidated Interest Charges, (ii) the provision for federal, state, local and foreign income
taxes payable, (iii) depreciation and amortization expense, (iv) costs, fees and expenses incurred during such period in
connection with (A) any Equity Issuance or other equity issuance, repurchase or redemption in an aggregate amount not to exceed
$3,000,000 for any Measurement Period, (B) entering into this Agreement and the transactions contemplated hereby in an
aggregate amount not to exceed $1,500,000 and (C) Permitted Acquisitions (whether consummated or not) in an aggregate amount
not to exceed $3,000,000 per Permitted Acquisition for any Measurement Period, (v) non-cash charges and losses (excluding any
such non-cash charges or losses to the extent (A) there were cash charges with respect to such charges and losses in past
accounting periods or (B) there is a reasonable expectation that there will be cash charges with respect to such charges and
losses in future accounting periods) and (vi) any cost savings, operating expense reductions and synergies from Permitted
Acquisitions that are reasonably expected to be realized in the good faith judgment of the Borrower within 12 months after the
consummation of such Permitted Acquisition (provided that such cost savings, operating expense reductions and synergies are
reasonably identifiable and quantifiable and reflected in the Compliance Certificate), net of the amount of actual benefits realized
during such period; provided that any addbacks pursuant to this clause (vi) shall (A) be available whether or not
deducted in calculating Consolidated Net Income and (B) not exceed 25% of Consolidated EBITDA (calculated prior to giving
effect to the adjustment in this clause (vi)); less (c) without duplication and to the extent reflected as a gain or
otherwise included in the calculation of Consolidated Net Income for such period, non-cash gains (excluding any such non-cash gains
to the extent (i) there were cash gains with respect to such gains in past accounting periods or (ii) there is a
reasonable expectation that there will be cash gains with respect to such gains in future accounting periods).

 

    11 

     

    

 

“Consolidated
Funded Indebtedness” means, as of any date of determination, for Holdings and its Subsidiaries on a Consolidated
basis, the sum of: (a) the outstanding principal amount of all obligations, whether current or long-term, for borrowed money
(including Obligations hereunder) and all obligations evidenced by bonds, debentures, notes, loan agreements or other similar
instruments; (b) all purchase money Indebtedness; (c) drawn and unreimbursed amounts in respect of letters of credit
(including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments; (d) all
obligations (including, without limitation, non-contingent earnout obligations to the extent the liability therefor has accrued) in
respect of the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of
business); (e) all Attributable Indebtedness; (f) all obligations to purchase, redeem, retire, defease or otherwise make
any payment prior to the Maturity Date in respect of any Equity Interests or any warrant, right or option to acquire such Equity
Interest, valued, in the case of a redeemable preferred interest, at the greater of its voluntary or involuntary liquidation
preference plus accrued and unpaid dividends; (g) to the extent such Indebtedness would otherwise constitute
Consolidated Funded Indebtedness if incurred by Holdings or its Subsidiaries, Indebtedness secured by a Lien on property owned
or being purchased by Holdings or any of its Subsidiaries up to the amount secured by such Lien (including indebtedness arising
under conditional sales or other title retention agreements) whether or not such Indebtedness shall have been assumed by such Person
or is limited in recourse; (h) without duplication, all Guarantees with respect to outstanding Indebtedness of the types
specified in clauses (a) through (g) above of Persons other than the Borrower or any Subsidiary; and
(i) all Indebtedness of the types referred to in clauses (a) through (h) above of any partnership or
joint venture (other than a joint venture that is itself a corporation or limited liability company) in which the Borrower or a
Subsidiary is a general partner or joint venturer, unless such Indebtedness is expressly made non-recourse to the Borrower or such
Subsidiary, but, in each case, excluding all obligations or Indebtedness, in each case, otherwise constituting Consolidated Funded
Indebtedness of each such Person if, upon or prior to the maturity thereof, such Person has irrevocably deposited with the proper
Person in trust or escrow the necessary funds (or evidences of indebtedness) for the payment, redemption or satisfaction of such
obligation or Indebtedness, and thereafter such funds and evidences of such obligation or Indebtedness or other security so
deposited are not included in the calculation of Unrestricted Cash Amount.

 

    12 

     

    

 

 

“Consolidated
Interest Charges” means, for any Measurement Period, the sum of (a) all interest, premium payments, debt discount,
fees, charges and related expenses in connection with borrowed money (including capitalized interest) or in connection with the deferred
purchase price of assets, in each case to the extent treated as interest in accordance with GAAP, (b) all interest paid or payable
with respect to discontinued operations and (c) the portion of rent expense under Capitalized Leases that is treated as interest
in accordance with GAAP, in each case, of or by Holdings and its Subsidiaries on a Consolidated basis for the most recently completed
Measurement Period.

 

“Consolidated
Interest Coverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated EBITDA to (b) Consolidated
Interest Charges to the extent paid in cash, in each case, for the most recently completed Measurement Period.

 

“Consolidated
Leverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness as of such
date net of the Unrestricted Cash Amount to (b) Consolidated EBITDA for the most recently completed Measurement Period.

 

“Consolidated
Net Income” means, at any date of determination, the net income (or loss) of Holdings and its Subsidiaries on a Consolidated
basis for the most recently completed Measurement Period; provided that Consolidated Net Income shall exclude (a) unusual
and infrequent gains and unusual and infrequent losses for such Measurement Period, (b) the net income of any Subsidiary during such
Measurement Period to the extent that the declaration or payment of dividends or similar distributions by such Subsidiary of such income
is not permitted by operation of the terms of its Organization Documents or any agreement, instrument or Law applicable to such Subsidiary
during such Measurement Period, except that Holdings’ equity in any net loss of any such Subsidiary for such Measurement Period
shall be included in determining Consolidated Net Income, and (c) any income (or loss) for such Measurement Period of any Person
if such Person is not a Subsidiary, except that Holdings’ equity in the net income of any such Person for such Measurement Period
shall be included in Consolidated Net Income up to the aggregate amount of cash actually distributed by such Person during such Measurement
Period to Holdings or a Subsidiary as a dividend or other distribution (and in the case of a dividend or other distribution to a Subsidiary,
such Subsidiary is not precluded from further distributing such amount to Holdings as described in clause (b) of this proviso).

 

“Consolidated
Secured Indebtedness” means, at any date of determination, the aggregate principal amount of all Consolidated Funded Indebtedness
outstanding on such date to the extent secured by a Lien on any assets of Holdings or its Subsidiaries.

 

“Consolidated
Secured Net Leverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated Secured Indebtedness
as of such date net of the Unrestricted Cash Amount to (b) Consolidated EBITDA for the most recently completed Measurement Period.

 

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

 

“Control”
means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person,
whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled”
have meanings correlative thereto. Without limiting the generality of the foregoing, a Person shall be deemed to be Controlled by another
Person if such other Person possesses, directly or indirectly, power to vote fifteen percent (15%) or more of the securities having ordinary
voting power for the election of directors, managing general partners or the equivalent.

 

    13 

     

    

 

“Covered Entity”
means any of the following: (a) a “covered entity” as that term is defined in, and interpreted in accordance with, 12
C.F.R. § 252.82(b); (b) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R.
§ 47.3(b); or (c) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. §
382.2(b).

 

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

 

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

 

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

 

“Default Rate”
means (a) with respect to any Obligation for which a rate is specified, a rate per annum equal to two percent (2%) in excess of the
rate otherwise applicable thereto and (b) with respect to any Obligation for which a rate is not specified or available, a rate per
annum equal to the Base Rate plus the Applicable Rate for Base Rate Loans plus two percent (2%), in each case, to the fullest
extent permitted by Applicable Law.

 

“Default Right”
has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as
applicable.

 

“Defaulting
Lender” means, subject to Section 2.15(b), any Lender that (a) has failed to (i) fund all or any
portion of its Loans within two (2) Business Days of the date such Loans were required to be funded hereunder unless such
Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result of such Lender’s
determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable
default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay to the Administrative Agent, the
L/C Issuer, the Swingline Lender or any other Lender any other amount required to be paid by it hereunder (including in respect of
its participation in Letters of Credit or Swingline Loans) within two (2) Business Days of the date when due, (b) has
notified the Borrower, the Administrative Agent, the L/C Issuer or the Swingline Lender in writing that it does not intend to comply
with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement
relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s
determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be
specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three
(3) Business Days after written request by the Administrative Agent or the Borrower, to confirm in writing to the
Administrative Agent and the Borrower that it will comply with its prospective funding obligations hereunder (provided that
such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation
by the Administrative Agent and the Borrower), or (d) has, or has a direct or indirect parent company that has, (i) become
the subject of a proceeding under any Debtor Relief Law, (ii) had appointed for it a receiver, custodian, conservator, trustee,
administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or
assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a
capacity or (iii) become the subject of a Bail-In Action; provided that a Lender shall not be a Defaulting Lender solely
by virtue of the ownership or acquisition of any Equity Interest in that Lender or any direct or indirect parent company thereof by
a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the
jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit
such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such
Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses
(a) through (d) above, and the effective date of such status, shall be conclusive and binding absent manifest
error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.15(b)) as of the date established
therefor by the Administrative Agent in a written notice of such determination, which shall be delivered by the Administrative Agent
to the Borrower, the L/C Issuer, the Swingline Lender and each other Lender promptly following such determination.

 

    14 

     

    

 

“Designated Jurisdiction”
means any country or territory to the extent that such country or territory is the subject of any Sanction.

 

“Disposition”
or “Dispose” means the sale, transfer, license, lease or other disposition (including any Sale and Leaseback
Transaction and any issuance of Equity Interests by a Subsidiary of such Person) of any property by any Loan Party or Subsidiary (or the
granting of any option or other right to do any of the foregoing),including any sale, assignment, transfer or other disposal, with or
without recourse, of any notes or accounts receivable or any rights and claims associated therewith.

 

“Disqualified
Equity Interests” means, with respect to any Person, any Equity Interest of such Person which, by its terms (or by the
terms of any security or other Equity Interests into which it is convertible or for which it is exchangeable at the option of the
holder thereof), or upon the happening of any event or condition (a) matures or is mandatorily redeemable, pursuant to a
sinking fund obligation or otherwise, (b) is redeemable or is required to be repurchased by such Person or any of its
Affiliates at the option of the holder thereof, in whole or in part, (c) provides for the scheduled payments of dividends in
cash, or (d) is or becomes convertible into or exchangeable for Indebtedness or any other Equity Interests that would
constitute Disqualified Equity Interests, in each case, prior to the date that is 91 days after the latest Maturity Date; provided
that, any such Equity Interests that would constitute Disqualified Equity Interests solely because the holders thereof have the
right to require the Borrower or an Affiliate thereof to repurchase or redeem such Equity Interests upon the occurrence of a change
of control or an asset sale shall not constitute Disqualified Equity Interests so long as the terms of such Equity Interests provide
that such repurchase or redemption is (i) not required unless permitted under this Agreement or (ii) subject to the prior
payment in full of the Obligations and the termination of the Commitments and the termination or Cash Collateralization of all
outstanding Letters of Credit.

 

“Documentation
Agent” means (i) Capital One, N.A. and (ii) JPMorgan Chase Bank, N.A., each in its capacity as documentation agent.

 

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

 

“Domestic Subsidiary”
means any Subsidiary that is organized under the laws of the United States, any state, commonwealth or territory thereof or the District
of Columbia.

 

“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.

 

    15 

     

    

 

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

 

“Eligible Assignee”
means any Person that meets the requirements to be an assignee under Section 11.06 (subject to such consents, if any, as may
be required under Section 11.06(b)(iii)).

 

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

 

“Environmental
Laws” means any and all federal, state, local, and foreign statutes, laws (including common law), regulations,
standards, ordinances, rules, judgments, interpretations, orders, decrees, permits, agreements or governmental restrictions relating
to pollution or the protection of the Environment or human health (to the extent related to exposure to Hazardous Materials),
including those relating to the manufacture, generation, handling, transport, storage, treatment, Release or threat of Release of
Hazardous Materials, air emissions and discharges to waste or public systems.

 

“Environmental
Liability” means any liability, contingent or otherwise (including any liability for damages, costs of environmental remediation,
fines, penalties or indemnities) whether based in contract, tort, implied or express warranty, strict liability, criminal or civil statute
or common law, directly or indirectly relating to (a) any Environmental Law, (b) the generation, use, handling, transportation,
storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) Release or threatened
Release of any Hazardous Materials or (e) any contract, agreement or other consensual arrangement pursuant to which liability is
assumed or imposed with respect to any of the foregoing.

 

“Environmental
Permit” means any permit, certification, registration, approval, identification number, license or other authorization required
under any Environmental Law.

 

“Equity Interests”
means, with respect to any Person, all of the shares of capital stock of (or other ownership or profit interests in) such Person, all
of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership
or profit interests in) such Person, all of the securities convertible into or exchangeable for shares of capital stock of (or other ownership
or profit interests in) such Person or warrants, rights or options for the purchase or acquisition from such Person of such shares (or
such other interests), and all of the other ownership or profit interests in such Person (including partnership, member or trust interests
therein), whether voting or nonvoting, and whether or not such shares, warrants, options, rights or other interests are outstanding on
any date of determination.

 

“Equity Issuance”
means, any issuance by any Loan Party or any Subsidiary to any Person of its Equity Interests, other than (a) any issuance of its
Equity Interests pursuant to the exercise of options or warrants, (b) any issuance of its Equity Interests pursuant to the conversion
of any debt securities to equity or the conversion of any class of equity securities to any other class of equity securities, (c) any
issuance of options or warrants relating to its Equity Interests, (d) any issuance by a Loan Party of its Equity Interests as consideration
for a Permitted Acquisition and (e) any issuance of Equity Interests pursuant to the 2020 Equity Incentive Plan of Holdings, as amended,
restated, replaced or otherwise modified. The term “Equity Issuance” shall not be deemed to include any Disposition.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended, and the rules and regulations promulgated thereunder.

 

“ERISA
Affiliate” means any trade or business (whether or not incorporated) under common control with the Borrower within the
meaning of Sections 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of
provisions relating to Section 412 of the Code).

 

    16 

     

    

 

“ERISA Event”
means (a) a Reportable Event with respect to a Pension Plan; (b) the withdrawal of the Borrower or any ERISA Affiliate from
a Pension Plan subject to Section 4063 of ERISA during a plan year in which such entity was a “substantial employer”
as defined in Section 4001(a)(2) of ERISA or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of
ERISA; (c) a complete or partial withdrawal by the Borrower or any ERISA Affiliate from a Multiemployer Plan; (d) the filing
of a notice of intent to terminate, the treatment of a Pension Plan amendment as a termination under Section 4041 or 4041A of ERISA;
(e) the institution by the PBGC of proceedings to terminate a Pension Plan; (f) any event or condition which constitutes grounds
under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan; (g) the
determination that any Pension Plan is considered an at-risk plan or a plan in endangered or critical status within the meaning of Sections
430, 431 and 432 of the Code or Sections 303, 304 and 305 of ERISA; (h) the imposition of any liability under Title IV of ERISA,
other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Borrower or any ERISA Affiliate or (i) a
failure by the Borrower or any ERISA Affiliate to meet all applicable requirements under the Pension Funding Rules in respect of
a Pension Plan, whether or not waived, or the failure by the Borrower or any ERISA Affiliate to make any required contribution to a Multiemployer
Plan.

 

“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:

 

(a)            for
any Interest Period with respect to a Eurodollar Rate Loan, the rate per annum equal to the London Interbank Offered Rate as administered
by ICE Benchmark Administration (or any other Person that takes over the administration of such rate for U.S. Dollars for a period equal
in length to such Interest Period) (“LIBOR”), as published on the applicable Bloomberg screen page (or
such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time)
(in such case, the “LIBOR Rate”) at or about 11:00 a.m., London time, two (2) Business Days prior to the
commencement of such Interest Period, for Dollar deposits (for delivery on the first day of such Interest Period) with a term equivalent
to such Interest Period; and

 

(b)            for
any interest calculation with respect to a Base Rate Loan on any date, the rate per annum equal to the LIBOR Rate, at or about 11:00 a.m.,
London time, two (2) London Banking Days prior to such date for Dollar deposits with a term of one (1) month commencing that
day;

 

provided
that, if the Eurodollar Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement.

 

    17 

     

    

 

“Eurodollar Rate
Loan” means a Revolving Loan or an Incremental Term Loan that bears interest at a rate based on clause (a) of
the definition of “Eurodollar Rate”.

 

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

 

“Excluded Property”
means, with respect to any Loan Party, (a) any interest in fee-owned real property (other than Material Real Properties), (b) any
interest in leased real property (other than any requirement to deliver landlord waivers, estoppels and collateral access letters), (c) the
Equity Interests of any Foreign Subsidiary of any Loan Party to the extent not required to be pledged to secure the Secured Obligations
pursuant to the Collateral Documents, (d) any United States intent-to-use trademark application to the extent that, and solely during
the period in which, the grant of a security interest therein would impair the validity or enforceability of or render void or result
in the cancellation of, any registration issued as a result of such intent-to-use trademark application under Applicable Law; provided
that upon submission to and acceptance by the United States Patent and Trademark Office of an Amendment to Allege Use or a Statement of
Use under Section 1(c) or 1(d) of the Lanham Act (or any successor provision) such intent-to-use trademark application
shall not be considered Excluded Property, (e) any property which, subject to the terms of Section 7.02(c), is subject
to a Lien of the type described in Section 7.01(i) pursuant to documents that prohibit such Loan Party from granting
any other Liens in such property and (f) any General Intangible, permit, lease, license, contract or other Instrument to the extent
the grant of a security interest in such General Intangible, permit, lease, license, contract or other Instrument under the terms thereof
or under Applicable Law, is prohibited and would result in the termination thereof or give the other parties thereto the right to terminate,
accelerate or otherwise alter such Loan Party’s rights, titles and interests thereunder (including upon the giving of notice or
the lapse of time or both); provided that (i) any such limitation described in the foregoing clause (f) shall only apply
to the extent that any such prohibition or right to terminate or accelerate or alter the applicable Loan Party’s rights could not
be rendered ineffective pursuant to the UCC or any other Applicable Law (including Debtor Relief Laws) or principles of equity and (ii) in
the event of the termination or elimination of any such prohibition or right or the requirement for any consent contained in any Applicable
Law, General Intangible, permit, lease, license, contract or other Instrument, to the extent sufficient to permit any such item to become
Collateral, or upon the granting of any such consent, or waiving or terminating any requirement for such consent, such General Intangible,
permit, lease, license, contract or other Instrument shall automatically and simultaneously not be considered Excluded Property.

 

“Excluded
Swap Obligation” means, with respect to any Loan Party, any Swap Obligation if, and to the extent that, all or a
portion of the Guaranty of such Loan Party of, or the grant by such Loan Party of a Lien to secure, such Swap Obligation (or any
Guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures
Trading Commission (or the application or official interpretation thereof) by virtue of such Loan Party’s failure for any
reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act (determined after
giving effect to Section 10.11 and any other “keepwell”, support or other agreement for the benefit of such
Loan Party and any and all guarantees of such Loan Party’s Swap Obligations by other Loan Parties) at the time the Guaranty of
such Loan Party, or grant by such Loan Party of a Lien, becomes effective with respect to such Swap Obligation. If a Swap Obligation
arises under a Master Agreement governing more than one Swap Contract, such exclusion shall apply only to the portion of such Swap
Obligation that is attributable to Swap Contracts for which such Guaranty or Lien is or becomes excluded in accordance with the
first sentence of this definition.

 

    18 

     

    

 

“Excluded Taxes”
means any of the following Taxes imposed on or with respect to any Recipient or required to be withheld or deducted from a payment to
a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in
each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal office or, in the
case of any Lender, its Lending Office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that
are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the
account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on the date on which
(i) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by the Borrower under
Section 11.13) or (ii) such Lender changes its Lending Office, except in each case to the extent that, pursuant to Sections
3.01(b) or (d), amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before
such Lender became a party hereto or to such Lender immediately before it changed its Lending Office, (c) Taxes attributable to such
Recipient’s failure to comply with Section 3.01(f) and (d) any U.S. federal withholding Taxes imposed pursuant
to FATCA.

 

“Existing Credit
Agreement” has the meaning set forth in the recitals to this Agreement.

 

“Extraordinary
Receipt” means any cash received by or paid to or for the account of any Person not in the ordinary course of business,
including tax refunds, pension plan reversions, proceeds of insurance (other than proceeds of business interruption insurance to the extent
such proceeds constitute compensation for lost earnings and proceeds of Involuntary Dispositions), indemnity payments and any purchase
price adjustments; provided, however, that an Extraordinary Receipt shall not include cash receipts from proceeds of insurance
or indemnity payments to the extent that such proceeds, awards or payments are received by any Person in respect of any third party
claim against such Person and applied to pay (or to reimburse such Person for its prior payment of) such claim and the costs and expenses
of such Person with respect thereto.

 

“Facility”
means the Revolving Facility or any Incremental Term Facility.

 

“Facility Termination
Date” means the date as of which all of the following shall have occurred: (a) the Aggregate Commitments have terminated,
(b) all Obligations have been paid in cash in full (other than contingent indemnification obligations), and (c) all Letters
of Credit have terminated or expired (other than Letters of Credit as to which other arrangements with respect thereto satisfactory to
the Administrative Agent and the L/C Issuer shall have been made).

 

“FASB ASC”
means the Accounting Standards Codification of the Financial Accounting Standards Board.

 

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

 

“Federal Funds
Rate” means, for any day, the rate per annum calculated by the Federal Reserve Bank of New York based on such day’s
federal funds transactions by depository institutions (as determined in such manner as the Federal Reserve Bank of New York shall set
forth on its public website from time to time) and published on the next succeeding Business Day by the Federal Reserve Bank of New York
as the federal funds effective rate; provided that if the Federal Funds Rate as so determined would be less than zero, such rate shall
be deemed to be zero for the purposes of this Agreement.

 

    19 

     

    

 

“Fee Letter”
means the letter agreement, dated March 9, 2021, between Holdings, DT Media, DT USA, and Bank of America, N.A.

 

“First Amendment”
shall mean the First Amendment, dated as of the First Amendment Effective Date, among the Borrowers, the Lenders party thereto, the Guarantors
party thereto and the Administrative Agent.

 

“First Amendment
Effective Date” has the meaning set forth for such term in the First Amendment.

 

“FIRREA”
means the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as amended.

 

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

 

“Foreign Lender”
means (a) if the Borrower is a U.S. Person, a Lender that is not a U.S. Person, and (b) if the Borrower is not a U.S. Person,
a Lender that is resident or organized under the laws of a jurisdiction other than that in which the Borrower is resident for tax purposes.
For purposes of this definition, the United States, each State thereof and the District of Columbia shall be deemed to constitute a single
jurisdiction.

 

“Foreign Subsidiary”
means any Subsidiary that is not a Domestic Subsidiary.

 

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

 

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

 

“FSHCO”
means any Subsidiary substantially all of the assets of which constitute the Equity Interests of CFCs.

 

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

 

    20 

     

    

 

“Fyber”
means Fyber N.V., a public limited liability company registered with the Netherlands Chamber of Commerce Business Register under number
54747805 and also registered with the commercial register of the local court of Berlin (Charlottenburg) under HRB 166541 B.

 

“Fyber Acquisition”
means (i) the sale by Fyber Sellers to, and the acquisition by, the Borrower, directly or indirectly through one or more wholly-owned
Subsidiaries, of all of the Fyber Sellers’ Shares (used in this paragraph as defined in the Fyber Acquisition Agreement) and (ii) the
acquisition by the Borrower, directly or indirectly through one or more wholly-owned Subsidiaries, of any other Shares it may acquire
pursuant to the Offer (as defined in the Fyber Acquisition Agreement) to acquire the remaining Shares, in each case pursuant to the terms
and conditions of the Fyber Acquisition Agreement.

 

“Fyber Acquisition
Agreement” means that certain Share Purchase Agreement dated as of March 22, 2021 among Holdings, Digital Turbine Luxembourg
S.a r.l. and Fyber Sellers, without giving effect to modifications, amendments, supplements, consents, waivers or requests (including
the effects of any such requests) that are materially adverse to the interests of the Lenders (in their capacity as such) which have not
been consented to by the Administrative Agent.

 

“Fyber Sellers”
means, collectively, Tennor Holding B.V., a private limited liability company under Dutch law, Advert Finance B.V., a private limited
liability company under Dutch law, and Lars Windhorst, an individual residing in Switzerland.

 

“GAAP”
means generally accepted accounting principles in the United States set forth from time to time in the opinions and pronouncements
of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of
the Financial Accounting Standards Board (or agencies with similar functions of comparable stature and authority within the
accounting profession) including, without limitation, the FASB Accounting Standards Codification, that are applicable to the
circumstances as of the date of determination, consistently applied and subject to Section 1.03.

 

“Governmental
Authority” means the government of the United States or any other nation, or of any political subdivision thereof, whether
state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive,
legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including, without limitation,
any supra-national bodies such as the European Union or the European Central Bank).

 

    21 

     

    

 

“Guarantee”
means, as to any Person, (a) any obligation, contingent or otherwise, of such Person guaranteeing or having the economic effect of
guaranteeing any Indebtedness of the kind described in clauses (a) through (g) of the definition thereof or other
obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly
or indirectly, and including any obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds
for the purchase or payment of) such Indebtedness or other obligation, (ii) to purchase or lease property, securities or services
for the purpose of assuring the obligee in respect of such Indebtedness or other obligation of the payment or performance of such Indebtedness
or other obligation, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or
level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation,
or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or other obligation
of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part), or (b) any
Lien on any assets of such Person securing any Indebtedness of the kind described in clauses (a) through (g) of
the definition thereof or other obligation of any other Person, whether or not such Indebtedness or other obligation is assumed or expressly
undertaken by such Person (or any right, contingent or otherwise, of any holder of such Indebtedness to obtain any such Lien). The amount
of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion
thereof, in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in
respect thereof as determined by the guaranteeing Person in good faith. The term “Guarantee” as a verb has a
corresponding meaning.

 

“Guaranteed Obligations”
has the meaning set forth in Section 10.01.

 

“Guarantors”
means, collectively, (a) the Subsidiary Guarantors, and (b) with respect to Additional Secured Obligations owing by any Loan
Party or any of its Subsidiaries and any Swap Obligation of a Specified Loan Party (determined before giving effect to Sections 10.01
and 10.11) under the Guaranty, the Borrower.

 

“Guaranty”
means, collectively, the Guarantee made by the Guarantors under Article X in favor of the Secured Parties, together with each
other guaranty delivered pursuant to Section 6.13.

 

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

 

    22 

     

    

 

“Hedge Bank”
means any Person in its capacity as a party to a Swap Contract that, (a) at the time it enters into a Swap Contract not prohibited
under Articles VI or VII, is a Lender or an Affiliate of a Lender, in its capacity as a party to such Swap Contract (even
if such Person ceases to be a Lender or such Person’s Affiliate ceased to be a Lender); provided, in the case of a Secured
Hedge Agreement with a Person who is no longer a Lender (or Affiliate of a Lender), such Person shall be considered a Hedge Bank only
through the stated termination date (without extension or renewal) of such Secured Hedge Agreement and provided further that for
any of the foregoing to be included as a “Secured Hedge Agreement” on any date of determination by the Administrative Agent,
the applicable Hedge Bank (other than the Administrative Agent or an Affiliate of the Administrative Agent) must have delivered a Secured
Party Designation Notice to the Administrative Agent prior to such date of determination.

 

“Holdings”
has the meaning specified in the introductory paragraph hereto.

 

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

 

“Incremental
Amendment” has the meaning specified in Section 2.16(j).

 

“Incremental Facility”
has the meaning specified in Section 2.16(a).

 

“Incremental Facility
Effective Date” has the meaning specified in Section 2.16(d).

 

“Incremental Term
Facility” has the meaning specified in Section 2.16(a).

 

“Incremental
Term Loan” has the meaning specified in Section 2.01(b).

 

“Incremental Term
Loan Commitment” has the meaning specified in Section 2.16(a).

 

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

 

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

 

(b)            all
direct or contingent obligations of such Person arising under letters of credit (including standby and commercial), bankers’ acceptances,
bank guaranties, surety bonds and similar instruments;

 

    23 

     

    

 

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

 

(d)            all
obligations (including, without limitation, earnout obligations) of such Person to pay the deferred purchase price of property or services
(other than (i) trade accounts payable in the ordinary course of business and not past due for more than ninety (90) days and
(ii) trade accounts which pertain to discontinued operations);

 

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

 

(f)            all
Attributable Indebtedness in respect of Capitalized Leases and Synthetic Lease Obligations of such Person;

 

(g)            all
obligations of such Person in respect of any Disqualified Equity Interest in such Person or any other Person or any warrant, right or
option to acquire such Disqualified Equity Interest, valued, in the case of a redeemable preferred interest, at the greater of its voluntary
or involuntary liquidation preference plus accrued and unpaid dividends; and

 

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

 

For all purposes hereof, the
Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture (other than a joint venture that is itself
a corporation or limited liability company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is
expressly made non-recourse to such Person. The amount of any net obligation under any Swap Contract on any date shall be deemed to be
the Swap Termination Value thereof as of such date.

 

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

 

“Indemnitee”
has the meaning specified in Section 11.04(b).

 

    24 

     

    

 

 

 

“Information”
has the meaning specified in Section 11.07(a).

  

“Intellectual
Property” has the meaning set forth in the Security Agreement.

 

“Intercompany
Debt” has the meaning specified in Section 7.02(e).

 

“Interest
Payment Date” means, (a) as to any Eurodollar Rate Loan, the last day of each Interest Period applicable to such
Loan and the Maturity Date of the Facility under which such Loan was made; provided, however, that if any Interest
Period for a Eurodollar Rate Loan exceeds three (3) months, the respective dates that fall every three (3) months after
the beginning of such Interest Period shall also be Interest Payment Dates; and (b) as to any Base Rate Loan or Swingline Loan,
the last Business Day of each March, June, September and December and the Maturity Date of the Facility under which such
Loan was made (with Swingline Loans being deemed made under the Revolving Facility for purposes of this definition).

 

“Interest Period”
means, as to each Eurodollar Rate Loan, the period commencing on the date such Eurodollar Rate Loan is disbursed or converted to or continued
as a Eurodollar Rate Loan and ending on the date one (1), three (3) or six (6) months thereafter (in each case, subject to availability),
as selected by the Borrower in its Loan Notice; provided that:

 

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

 

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

 

(c)            no
Interest Period shall extend beyond the Maturity Date.

 

“Investment”
means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of (a) the purchase or
other acquisition of Equity Interests or debt or other securities of another Person, (b) a loan, advance or capital contribution
to, Guarantee or assumption of debt of, or purchase or other acquisition of any other debt or equity participation or interest in, another
Person (including any partnership or joint venture interest in such other Person and any arrangement pursuant to which the investor guaranties
Indebtedness of such other Person), or (c) the purchase or other acquisition (in one transaction or a series of transactions) of
assets of another Person which constitute all or substantially all of the assets of such Person or of a division, line of business or
other business unit of such Person. For purposes of covenant compliance, the amount of any Investment shall be the amount actually invested,
without adjustment for subsequent increases or decreases in the value of such Investment, but giving effect to any returns or distributions
of capital or repayment of principal actually received in each case by such Person with respect thereto. Notwithstanding anything else
set forth herein, the AdColony Acquisition shall be deemed to be an Investment outstanding as of the Closing Date to the extent consummated
on such date.

 

    25

     

    

 

 

“Involuntary Disposition”
means any loss of, damage to or destruction of, or any condemnation or other taking for public use of, any property of any Loan Party
or any Subsidiary.

  

“IP Rights”
has the meaning specified in Section 5.25.

 

“IRS”
means the United States Internal Revenue Service.

 

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

 

“ISP”
means the International Standby Practices, International Chamber of Commerce Publication No. 590 (or such later version thereof
as may be in effect at the applicable time).

 

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

 

“Joinder Agreement”
means a joinder agreement substantially in the form of Exhibit D executed and delivered in accordance with the provisions
of Section 6.13.

 

“Junior Debt Prepayment”
has the meaning specified in Section 7.14.

 

“Junior Indebtedness”
means (a) unsecured Indebtedness of the Borrower or any Subsidiary, (b) Subordinated Indebtedness and (c) Indebtedness
of the Borrower or any Subsidiary secured on a junior basis to the Liens securing the Obligations. For the avoidance of doubt, Junior
Indebtedness does not include Loans.

 

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

 

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

 

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

 

“L/C
Commitment” means, with respect to the L/C Issuer, the commitment of the L/C Issuer to issue Letters of Credit hereunder.
The initial amount of the L/C Issuer’s Letter of Credit Commitment is set forth on Schedule 2.03. The Letter of Credit Commitment
of the L/C Issuer may be modified from time to time by agreement between the L/C Issuer and the Borrower, and notified to the Administrative
Agent.

 

    26

     

    

  

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

 

“L/C Disbursement”
means a payment made by the L/C Issuer pursuant to a Letter of Credit.

 

“L/C
Issuer” means Bank of America in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters
of Credit hereunder.

 

“L/C
Obligations” means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters
of Credit plus the aggregate of all Unreimbursed Amounts (including all L/C Borrowings). For purposes of computing the amount available
to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06.
For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still
be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding”
in the amount so remaining available to be drawn.

 

“Lender”
means each of the Persons identified as a “Lender” on the signature pages hereto, each other Person that becomes a “Lender”
in accordance with this Agreement and, their successors and assigns and, unless the context requires otherwise, includes the Swingline
Lender.

 

“Lending Office”
means, as to the Administrative Agent, the L/C Issuer or any Lender, the office or offices of such Person described as such in such Person’s
Administrative Questionnaire, or such other office or offices as such Person may from time to time notify the Borrower and the Administrative
Agent; which office may include any Affiliate of such Person or any domestic or foreign branch of such Person or such Affiliate.

 

“Letter of Credit”
means any standby letter of credit issued hereunder.

 

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

 

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

 

“Letter of Credit
Sublimit” means, as of any date of determination, an amount equal to the lesser of (a) $10,000,000 and (b) the
Revolving Facility. The Letter of Credit Sublimit is part of, and not in addition to, the Revolving Facility.

 

“Leverage Increase
Period” has the meaning specified in Section 7.11(a).

 

“LIBOR”
has the meaning specified in the definition of Eurodollar Rate.

 

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

  

    27

     

    

 

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

  

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

 

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

 

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

 

“Loan”
means an extension of credit by a Lender to the Borrower under Article II in the form of a Revolving Loan, a Swingline Loan
or an Incremental Term Loan.

 

“Loan Documents”
means, collectively, (a) this Agreement, (b) the First Amendment, (c) the Notes, (d) the Guaranty, (e) the Collateral
Documents, (f) the Fee Letter, (g) each Issuer Document, (h) each Joinder Agreement, (i) any agreement creating or
perfecting rights in Cash Collateral pursuant to the provisions of Section 2.14, and (j) all other certificates, agreements,
documents and instruments executed and delivered, in each case, by or on behalf of any Loan Party pursuant to the foregoing (but specifically
excluding any Secured Hedge Agreement or any Secured Cash Management Agreement) and any amendments, modifications or supplements thereto
or to any other Loan Document or waivers hereof or to any other Loan Document; provided, however, that for purposes of Section 11.01,
“Loan Documents” shall mean this Agreement, the Guaranty and the Collateral Documents.

 

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

 

    28

     

    

 

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

 

“London Banking
Day” means any day on which dealings in Dollar deposits are conducted by and between banks in the London interbank eurodollar
market.

 

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

 

“Material Adverse
Effect” means (a) a material adverse change in, or a material adverse effect upon, the operations, business, properties,
liabilities (actual or contingent), condition (financial or otherwise) or prospects of Holdings or Holdings and its Subsidiaries taken
as a whole; or (b) a material adverse effect on (i) the ability of any Loan Party to perform its Obligations under any Loan
Document to which it is a party, (ii) the legality, validity, binding effect or enforceability against any Loan Party of any Loan
Document to which it is a party or (iii) the rights, remedies and benefits available to, or conferred upon, the Administrative Agent
or any Lender under any Loan Documents.

 

“Material Contract”
means, with respect to any Person, (a) each contract or agreement material to the business, condition (financial or otherwise), operations,
performance, properties or prospects of such Person or (b) any other contract, agreement, permit or license, written or oral, of
the Borrower and its Subsidiaries as to which the breach, nonperformance, cancellation or failure to renew by any party thereto, individually
or in the aggregate, would reasonably be expected to have a Material Adverse Effect.

 

“Material Domestic
Subsidiary” means any Domestic Subsidiary of Holdings that, together with its Subsidiaries, (a) generates more than
5% of Consolidated EBITDA on a Pro Forma Basis for the four (4) fiscal quarter period most recently ended or (b) has total assets
(including Equity Interests in other Subsidiaries and excluding investments that are eliminated in consolidation) of equal to or greater
than 5% of the total assets of Holdings and its Subsidiaries, on a consolidated basis as of the end of the most recent four (4) fiscal
quarters; provided, however, that if at any time there are Domestic Subsidiaries which are not classified as “Material
Domestic Subsidiaries” but which collectively (i) generate more than 10% of Consolidated EBITDA on a Pro Forma Basis or (ii) have
total assets (including Equity Interests in other Subsidiaries and excluding investments that are eliminated in consolidation) of equal
to or greater than 10% of the total assets of Holdings and its Subsidiaries on a Consolidated basis, then Holdings shall promptly designate
one or more of such Domestic Subsidiaries as Material Domestic Subsidiaries and cause any such Domestic Subsidiaries to comply with the
provisions of Section 6.13 such that, after such Domestic Subsidiaries become Guarantors hereunder, the Domestic Subsidiaries
that are not Guarantors shall (A) generate less than 10% of Consolidated EBITDA and (B) have total assets of less than 10% of
the total assets of Holdings and its Subsidiaries on a Consolidated basis.

 

“Maturity Date”
means (a) with respect to the Revolving Facility, April 29, 2026 and (b) with respect to an Incremental Term Facility,
the final maturity date applicable thereto as specified in the applicable Incremental Amendment; provided, however, that,
in each case, if such date is not a Business Day, the Maturity Date shall be the next preceding Business Day.

 

    29

     

    

  

“Material Real Property”
means any fee owned Real Property located in the United States that is owned by any Loan Party with a fair market value in excess of $5,000,000
(as reasonably estimated by the Administrative Agent).

  

“Measurement Period”
means, at any date of determination, the most recently completed four (4) fiscal quarters of Holdings (or, for purposes of determining
Pro Forma Compliance, the most recently completed four (4) fiscal quarters of Holdings for which financial statements have been or
are required to be delivered pursuant to Section 6.01).

 

“Minimum Collateral
Amount” means, at any time, (a) with respect to Cash Collateral consisting of cash or deposit account balances, an
amount equal to 105% of the Fronting Exposure of the L/C Issuer with respect to Letters of Credit issued and outstanding at such time
and (b) otherwise, an amount determined by the Administrative Agent and the L/C Issuer in their sole discretion.

 

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

 

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

 

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

 

“Mortgages”
means collectively, the deeds of trust, trust deeds, deeds to secure debt, hypothecs and mortgages made by the Loan Parties in favor or
for the benefit of the Administrative Agent on behalf of the Secured Parties creating and evidencing a Lien on a Mortgaged Property in
form and substance reasonably satisfactory to the Administrative Agent with such terms and provisions as may be required by the applicable
Laws of the relevant jurisdiction, and any other mortgages executed and delivered pursuant to Section 6.14 or 6.17,
in each case, as the same may from time to time be amended, restated, supplemented, or otherwise modified.

 

“Multiemployer
Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which the Borrower
or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five (5) plan years, has made or been
obligated to make contributions.

 

“Multiple Employer
Plan” means a Plan which has two or more contributing sponsors (including the Borrower or any ERISA Affiliate) at least
two of whom are not under common control, as such a plan is described in Section 4064 of ERISA.

 

“Net Cash Proceeds”
means the aggregate cash or Cash Equivalents proceeds received by any Loan Party or any Subsidiary in respect of any Disposition, Equity
Issuance, or Involuntary Disposition, net of (a) direct costs incurred in connection therewith (including, without limitation, legal,
accounting and investment banking fees and sales commissions), (b) taxes paid or payable as a result thereof and (c) in the
case of any Disposition or any Involuntary Disposition, the amount necessary to retire any Indebtedness secured by a Permitted Lien (ranking
senior to any Lien of the Administrative Agent) on the related property; it being understood that “Net Cash Proceeds” shall
include, without limitation, any cash or Cash Equivalents received upon the sale or other disposition of any non-cash consideration
received by any Loan Party or any Subsidiary in any Disposition, Equity Issuance, or Involuntary Disposition.

 

 

    30

     

    

  

“New Lender”
has the meaning specified in Section 2.16(c).

 

“Non-Consenting
Lender” means any Lender that does not approve any consent, waiver or amendment that (a) requires the approval of all
Lenders or all affected Lenders in accordance with the terms of Section 11.01 and (b) has been approved by the Required
Lenders.

 

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

 

“Non-Extension
Notice Date” has the meaning specified in Section 2.03(b).

 

“Note”
means a Revolving Note.

 

“Notice of Loan
Prepayment” means a notice of prepayment with respect to a Loan, which shall be substantially in the form of Exhibit P
or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission
system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer.

 

“NPL”
means the National Priorities List under CERCLA.

 

“Obligations”
means (a) all advances to, and debts, liabilities, obligations, covenants and duties of, any Loan Party arising under any Loan Document
or otherwise with respect to any Loan, or Letter of Credit and (b) all costs and expenses incurred in connection with enforcement
and collection of the foregoing, including the fees, charges and disbursements of counsel, in each case whether direct or indirect (including
those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest,
expenses and fees that accrue after the commencement by or against any Loan Party or any Affiliate thereof pursuant to any proceeding
under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest, expenses and fees
are allowed claims in such proceeding; provided that, without limiting the foregoing, the Obligations of a Loan Party shall exclude
any Excluded Swap Obligations with respect to such Loan Party.

 

“OFAC”
means the Office of Foreign Assets Control of the United States Department of the Treasury.

 

“Officer’s
Certificate” means a certificate substantially the form of Exhibit K or any other form approved by the Administrative
Agent.

 

“Organization
Documents” means, (a) with respect to any corporation, the charter or certificate or articles of incorporation and
the bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to any
limited liability company, the certificate or articles of formation or organization and operating agreement or limited liability company
agreement (or equivalent or comparable documents with respect to any non-U.S. jurisdiction); (c) with respect to any partnership,
joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or organization
(or equivalent or comparable documents with respect to any non-U.S. jurisdiction) and (d) with respect to all entities, any agreement,
instrument, filing or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental
Authority in the jurisdiction of its formation or organization (or equivalent or comparable documents with respect to any non-U.S. jurisdiction).

 

 

    31

     

    

  

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

 

“Other Taxes”
means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made
under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest
under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to
an assignment (other than an assignment made pursuant to Section 3.06).

 

“Outstanding Amount”
means (a) with respect to Incremental Term Loans, Revolving Loans and Swingline Loans on any date, the aggregate outstanding principal
amount thereof after giving effect to any Borrowings and prepayments or repayments of Revolving Loans and Swingline Loans, as the case
may be, occurring on such date; and (b) with respect to any L/C Obligations on any date, the amount of such L/C Obligations on such
date after giving effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate amount of the L/C Obligations
as of such date, including as a result of any reimbursements by the Borrower of Unreimbursed Amounts.

 

“Participant”
has the meaning specified in Section 11.06(d).

 

“Participant Register”
has the meaning specified in Section 11.06(d).

 

“Patriot Act”
has the meaning specified in Section 11.19.

 

“PBGC”
means the Pension Benefit Guaranty Corporation.

 

“Pension Funding
Rules” means the rules of the Code and ERISA regarding minimum funding standards with respect to Pension Plans and
set forth in Sections 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA.

 

“Pension Plan”
means any employee pension benefit plan (including a Multiple Employer Plan or a Multiemployer Plan) that is maintained or is contributed
to by the Borrower and any ERISA Affiliate or with respect to which the Borrower or any ERISA Affiliate has any liability and is either
covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code.

 

    32

     

    

  

“Permitted Acquisition”
means (a) the AdColony Acquisition, (b) the Fyber Acquisition and (c) any other Acquisition in compliance with Section 7.03(g).

  

“Permitted Acquisition
Certificate” means a certificate substantially the form of Exhibit F or any other form approved by the Administrative
Agent.

 

“Permitted Liens”
has the meaning set forth in Section 7.01.

 

“Permitted Transfers”
means (a) Dispositions of inventory in the ordinary course of business; (b) Dispositions of property to the Borrower or any
Subsidiary; provided that if the transferor of such property is a Loan Party then the transferee thereof must be a Loan Party;
(c) Dispositions of accounts receivable in connection with the collection or compromise thereof; (d) leases or subleases granted
to others not interfering in any material respect with the business of the Borrower and its Subsidiaries; and (e) the sale or disposition
of Cash Equivalents for fair market value.

 

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

 

“Plan”
means any employee benefit plan within the meaning of Section 3(3) of ERISA (including a Pension Plan), maintained for employees
of the Borrower or any ERISA Affiliate or any such Plan to which the Borrower or any ERISA Affiliate is required to contribute on behalf
of any of its employees.

 

“Platform”
has the meaning specified in Section 6.02.

 

“Pledged Equity”
has the meaning specified in the Security Agreement.

 

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

 

“Pro Forma Basis”
and “Pro Forma Effect” means, with respect to any transaction, whether actual or proposed, for purposes of determining
compliance with the Consolidated Leverage Ratio, the Consolidated Secured Leverage Ratio, the Consolidated Interest Coverage Ratio or
the financial covenants set forth in Section 7.11, each such transaction or proposed transaction shall be deemed to have occurred
on and as of the first day of the relevant Measurement Period, and, the following pro forma adjustments shall be made:

 

(a)            in
the case of an actual or proposed Disposition, all income statement items (whether positive or negative) attributable to the line of business
or the Person subject to such Disposition shall be excluded from the results of Holdings and its Subsidiaries for such Measurement Period;

 

(b)            in
the case of an actual or proposed Acquisition, income statement items (whether positive or negative) attributable to the property, line
of business or the Person subject to such Acquisition shall be included in the results of Holdings and its Subsidiaries for such Measurement
Period;

 

    33

     

    

  

(c)            interest
accrued during the relevant Measurement Period on, and the principal of, any Indebtedness repaid or to be repaid or refinanced in such
transaction shall be excluded from the results of Holdings and its Subsidiaries for such Measurement Period; and

  

(d)            any
Indebtedness actually or proposed to be incurred or assumed in such transaction (other than earnout obligations, which shall be excluded
except to the extent that liability therefor has actually accrued) shall be deemed to have been incurred as of the first day of the applicable
Measurement Period, and interest thereon shall be deemed to have accrued from such day on such Indebtedness at the applicable rates provided
therefor (and in the case of interest that does or would accrue at a formula or floating rate, at the rate in effect at the time of determination)
and shall be included in the results of Holdings and its Subsidiaries for such Measurement Period.

 

“Pro Forma Compliance”
means, with respect to any transaction, that such transaction does not cause, create or result in non-compliance with the applicable maximum
Consolidated Leverage Ratio or Consolidated Secured Net Leverage Ratio, or the applicable minimum Consolidated Interest Coverage Ratio,
as the context requires, after giving Pro Forma Effect, based upon the results of operations for the most recently completed Measurement
Period to (a) such transaction and (b) all other transactions which are contemplated or required to be given Pro Forma Effect
hereunder that have occurred on or after the first day of the relevant Measurement Period.

 

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

 

“Public Lender”
has the meaning specified in Section 6.02.

 

“QFC”
has the meaning assigned to the term “qualified financial contract” in, and shall be interpreted in accordance with, 12 U.S.C.
5390(c)(8)(D).

 

“QFC Credit Support”
has the meaning specified in Section 11.21.

 

“Qualified ECP
Guarantor” means, at any time, each Loan Party with total assets exceeding $10,000,000 or that qualifies at such time as
an “eligible contract participant” under the Commodity Exchange Act and can cause another Person to qualify as an “eligible
contract participant” at such time under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

 

“Qualifying Control
Agreement” means an agreement, among a Loan Party, a depository institution or securities intermediary and the Administrative
Agent, which agreement is in form and substance acceptable to the Administrative Agent and which provides the Administrative Agent with
“control” (as such term is used in Article 9 of the UCC) over the deposit account(s) or securities account(s) described
therein.

 

“Real Property”
means, collectively, all right, title and interest (including any leasehold, mineral or other estate) in and to any and all parcels of
or interests in real property owned or leased by any Person, whether by lease, license or other means, together with, in each case, all
easements, hereditaments and appurtenances relating thereto, all improvements and appurtenant fixtures and equipment, all general intangibles
and contract rights and other property and rights incidental to the ownership, lease or operation thereof.

 

    34

     

    

  

“Recipient”
means the Administrative Agent, any Lender, the L/C Issuer or any other recipient of any payment to be made by or on account of any obligation
of any Loan Party hereunder.

 

“Register”
has the meaning specified in Section 11.06(c).

 

“Regulation U”
means Regulation U of the FRB, as in effect from time to time and all official rulings and interpretations thereunder or thereof.

 

“Related Adjustment”
means, in determining any LIBOR Successor Rate, the first relevant available alternative set forth in the order below that can be determined
by the Administrative Agent applicable to such LIBOR Successor Rate:

 

(A)            the
spread adjustment, or method for calculating or determining such spread adjustment, that has been selected or recommended by the Relevant
Governmental Body for the relevant Pre-Adjustment Successor Rate (taking into account the interest period, interest payment date or payment
period for interest calculated and/or tenor thereto) and which adjustment or method (x) is published on an information service as
selected by the Administrative Agent from time to time in its reasonable discretion or (y) solely with respect to Term SOFR, if not
currently published, which was previously so recommended for Term SOFR and published on an information service acceptable to the Administrative
Agent; or

 

(B)            the
spread adjustment that would apply (or has previously been applied) to the fallback rate for a derivative transaction referencing the
ISDA Definitions (taking into account the interest period, interest payment date or payment period for interest calculated and/or tenor
thereto).

 

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

 

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

 

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

 

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

 

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

 

    35

     

    

  

“Required Class Lenders”
means, at any time with respect to any Class of Loans or Commitments, Lenders having Total Credit Exposures with respect to such
Class representing more than 50% of the Total Credit Exposures of all Lenders of such Class. The Total Credit Exposure of any Defaulting
Lender with respect to such Class shall be disregarded in determining Required Class Lenders at any time; provided that,
the amount of any participation in any Swingline Loan and Unreimbursed Amounts that such Defaulting Lender has failed to fund that have
not been reallocated to and funded by another Lender shall be deemed to be held by the Lender that is the Swingline Lender or the L/C
Issuer, as the case may be, in making such determination.

 

“Required Lenders”
means, at any time, Lenders having Total Credit Exposures representing more than 50% of the Total Credit Exposures of all Lenders. The
Total Credit Exposure of any Defaulting Lender shall be disregarded in determining Required Lenders at any time; provided that,
the amount of any participation in any Swingline Loan and Unreimbursed Amounts that such Defaulting Lender has failed to fund that have
not been reallocated to and funded by another Lender shall be deemed to be held by the Lender that is the Swingline Lender or the L/C
Issuer, as the case may be, in making such determination.

 

“Rescindable Amount”
has the meaning set forth in Section 2.12(b)(ii).

 

“Resignation Effective
Date” has the meaning set forth in Section 9.06(a).

 

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

 

“Responsible Officer”
means the chief executive officer, president, executive vice president, chief financial officer, chief accounting officer, treasurer,
assistant treasurer, vice president of finance or controller of a Loan Party, solely for purposes of the delivery of incumbency certificates
pursuant to Section 4.01(b), the secretary or any assistant secretary of a Loan Party and, solely for purposes of notices
given pursuant to Article II, any other officer or employee of the applicable Loan Party so designated by any of the foregoing
officers in a notice to the Administrative Agent or any other officer or employee of the applicable Loan Party designated in or pursuant
to an agreement between the applicable Loan Party and the Administrative Agent. Any document delivered hereunder that is signed by a Responsible
Officer of a Loan Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action
on the part of such Loan Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party.
To the extent requested by the Administrative Agent, each Responsible Officer will provide an incumbency certificate and to the extent
requested by the Administrative Agent, appropriate authorization documentation, in form and substance satisfactory to the Administrative
Agent.

 

“Restricted Payment”
means (a) any dividend or other distribution, direct or indirect, on account of any shares (or equivalent) of any class of Equity
Interests of Holdings or any of its Subsidiaries, now or hereafter outstanding, (b) any redemption, retirement, sinking fund or similar
payment, purchase or other acquisition for value, direct or indirect, of any shares (or equivalent) of any class of Equity Interests of
Holdings or any of its Subsidiaries, now or hereafter outstanding, (c) any payment made to retire, or to obtain the surrender of,
any outstanding warrants, options or other rights to acquire shares of any class of Equity Interests of any Loan Party or any of its Subsidiaries,
now or hereafter outstanding, (d) any payment with respect to any earnout obligation.

 

    36

     

    

 

 

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

 

“Revolving Commitment”
means, as to each Revolving Lender, its obligation to (a) make Revolving Loans to the Borrower pursuant to Section 2.01(b),
(b) purchase participations in L/C Obligations, and (c) purchase participations in Swingline Loans, in an aggregate principal
amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 1.01(b) under
the caption “Revolving Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Lender
becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement, including,
for the avoidance of doubt, the 2021 Revolving Commitments of the 2021 Revolving Lenders. The Revolving Commitment of all of the Revolving
Lenders on the First Amendment Effective Date shall be $525,000,000.

 

“Revolving Commitment
Increase” has the meaning specified in Section 2.16(a)

 

“Revolving Exposure”
means, as to any Lender at any time, the aggregate principal amount at such time of its outstanding Revolving Loans and such Lender’s
participation in L/C Obligations and Swingline Loans at such time.

 

“Revolving Facility”
means, at any time, the aggregate amount of the Revolving Lenders’ Revolving Commitments at such time.

 

“Revolving Increase
Effective Date” has the meaning specified in Section 2.16(d).

 

“Revolving Lender”
means, at any time, (a) so long as any Revolving Commitment is in effect, any Lender that has a Revolving Commitment at such time
or (b) if the Revolving Commitments have terminated or expired, any Lender that has a Revolving Loan or a participation in L/C Obligations
or Swingline Loans at such time.

 

“Revolving Loan”
has the meaning specified in Section 2.01.

 

“Revolving Note”
means a promissory note made by the Borrower in favor of a Revolving Lender evidencing Revolving Loans or Swingline Loans, as the case
may be, made by such Revolving Lender, substantially in the form of Exhibit G.

 

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

 

“Sale and Leaseback
Transaction” means, with respect to any Loan Party or any Subsidiary, any arrangement, directly or indirectly, with any
Person whereby such Loan Party or such Subsidiary shall sell or transfer any property used or useful in its business, whether now owned
or hereafter acquired, and thereafter rent or lease such property or other property that it intends to use for substantially the same
purpose or purposes as the property being sold or transferred.

 

    37

     

    

 

“Sanction(s)”
means any sanction administered or enforced by the United States Government (including, without limitation, OFAC), the United Nations
Security Council, the European Union, Her Majesty’s Treasury (“HMT”) or other relevant sanctions authority.

 

“Scheduled Unavailability
Date” has the meaning specified in Section 3.03(c).

 

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

 

“Secured Cash
Management Agreement” means any Cash Management Agreement between the any Loan Party and any of its Subsidiaries and any
Cash Management Bank.

 

“Secured Hedge
Agreement” means any interest rate, currency, foreign exchange, or commodity Swap Contract required by or not prohibited
under Article VI or VII between any Loan Party and any of its Subsidiaries and any Hedge Bank.

 

“Secured Obligations”
means all Obligations and all Additional Secured Obligations.

 

“Secured Parties”
means, collectively, the Administrative Agent, the Lenders, the L/C Issuer, the Hedge Banks, the Cash Management Banks, the Indemnitees
and each co-agent or sub-agent appointed by the Administrative Agent from time to time pursuant to Section 9.05.

 

“Secured Party
Designation Notice” means a notice from any Lender or an Affiliate of a Lender substantially in the form of Exhibit H.

 

“Securities Act”
means the Securities Act of 1933, including all amendments thereto and regulations promulgated thereunder.

 

“Security Agreement”
means the amended and restated security and pledge agreement, dated as of the Closing Date, executed in favor of the Administrative Agent
by each of the Loan Parties.

 

“Shareholders’
Equity” means, as of any date of determination, consolidated shareholders’ equity of Holdings and its Subsidiaries
as of such date, determined in accordance with GAAP.

 

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

 

“Solvency Certificate”
means a solvency certificate in substantially in the form of Exhibit I.

 

    38

     

    

 

“Solvent”
and “Solvency” mean, with respect to any Person on any date of determination, that on such date (a) the
fair value of the property of such Person is greater than the total amount of liabilities, including contingent liabilities, of such
Person, (b) the present fair saleable value of the assets of such Person is not less than the amount that will be required to pay
the probable liability of such Person on its debts as they become absolute and matured, (c) such Person does not intend to, and
does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay such debts and liabilities as they
mature, (d) such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for
which such Person’s property would constitute an unreasonably small capital, and (e) such Person is able to pay its debts
and liabilities, contingent obligations and other commitments as they mature in the ordinary course of business. The amount of contingent
liabilities at any time shall be computed as the amount that, in the light of all the facts and circumstances existing at such time,
represents the amount that can reasonably be expected to become an actual or matured liability.

 

“Specified Loan
Party” means any Loan Party that is not then an “eligible contract participant” under the Commodity Exchange
Act (determined prior to giving effect to Section 10.11).

 

“Subordinated
Indebtedness” means Indebtedness of the Borrower or any Subsidiary which by its terms is subordinated in right of payment
to the payment in full of the Secured Obligations in a form and substance reasonably acceptable to the Administrative Agent.

 

“Subsidiary”
of a Person means a corporation, partnership, joint venture, limited liability company or other business entity of which a majority of
the shares of Voting Stock is at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly
through one or more intermediaries, or both, by such Person. Unless otherwise specified, all references herein to a “Subsidiary”
or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of Holdings.

 

“Subsidiary Guarantors”
means the Material Domestic Subsidiaries of Holdings (other than the Borrower) as are or may from time to time become parties to this
Agreement pursuant to Section 6.13.

 

“Supported QFC”
has the meaning specified in Section 11.21.

 

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

 

    39

     

    

 

“Swap Obligations”
means with respect to any Loan Party any obligation to pay or perform under any agreement, contract or transaction that constitutes a
“swap” within the meaning of Section 1a(47) of the Commodity Exchange Act.

 

“Swap Termination
Value” means, in respect of any one or more Swap Contracts, after taking into account the effect of any legally enforceable
netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out
and termination value(s) determined in accordance therewith, such termination value(s), and (b) for any date prior to the date
referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined
based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts (which
may include a Lender or any Affiliate of a Lender).

 

“Swingline Borrowing”
means a borrowing of a Swingline Loan pursuant to Section 2.04.

 

“Swingline Commitment”
means, as to any Lender (a) the amount set forth opposite such Lender’s name on Schedule 2.01 hereof or (b) if
such Lender has entered into an Assignment and Assumption or has otherwise assumed a Swingline Commitment after the Closing Date, the
amount set forth for such Lender as its Swingline Commitment in the Register maintained by the Administrative Agent pursuant to Section 11.06(c).

 

“Swingline Lender”
means Bank of America, in its capacity as provider of Swingline Loans, or any successor swingline lender hereunder.

 

“Swingline Loan”
has the meaning specified in Section 2.04(a).

 

“Swingline Loan
Notice” means a notice of a Swingline Borrowing pursuant to Section 2.04(b), which shall be substantially in
the form of Exhibit J or such other form as approved by the Administrative Agent (including any form on an electronic platform
or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible
Officer of the Borrower.

 

“Swingline Sublimit”
means an amount equal to the lesser of (a) $5,000,000 and (b) the Revolving Facility. The Swingline Sublimit is part of,
and not in addition to, the Revolving Facility.

 

“Synthetic Lease
Obligation” means the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention
lease, or (b) an agreement for the use or possession of property (including Sale and Leaseback Transactions), in each case, creating
obligations that do not appear on the balance sheet of such Person but which, upon the application of any Debtor Relief Laws to such
Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).

 

“Target”
means the Person or division, line of business or other business unit of the Person to be acquired in an Acquisition.

 

    40

     

    

 

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

 

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

 

“Threshold Amount”
means $10,000,000.

 

“Total Credit
Exposure” means, as to any Lender at any time, (a) in respect of the Revolving Facility, the unused Commitments and
Revolving Exposure of such Lender at such time and (b) in respect of any Incremental Term Facility, the aggregate Outstanding Amount
of all Incremental Term Loans.

 

“Total Revolving
Exposure” means, as to any Revolving Lender at any time, the unused Commitments and Revolving Exposure of such Revolving
Lender at such time.

 

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

 

“Trade Date”
has the meaning set forth in an Assignment and Assumption.

 

“Trailing
Four Quarter Consolidated EBITDA” means Consolidated EBITDA for the most recently ended Measurement Period.

 

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

 

“UCC”
means the Uniform Commercial Code as in effect in the State of New York; provided that, if perfection or the effect of perfection
or non-perfection or the priority of any security interest in any Collateral is governed by the Uniform Commercial Code as in effect
in a jurisdiction other than the State of New York, “UCC” means the Uniform Commercial Code as in effect from
time to time in such other jurisdiction for purposes of the provisions hereof relating to such perfection, effect of perfection or non-perfection
or priority.

 

“UCP”
means the Uniform Customs and Practice for Documentary Credits, International Chamber of Commerce Publication No. 600 (or such
later version thereof as may be in effect at the applicable time).

 

“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 subject to 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.

 

    41

     

    

 

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

 

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

 

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

 

“Unrestricted
Cash Amount” means, as to any Person on any date of determination, the amount of (a) domestic unrestricted cash and
Cash Equivalents of such Person whether or not held in an account pledged to the Administrative Agent, and (b) domestic cash and
Cash Equivalents of such Person restricted in favor of the Facility (which may also include cash and Cash Equivalents securing other
Indebtedness secured by a Lien on any Collateral along with the Facility), in each case as determined in accordance with GAAP; provided
that the “Unrestricted Cash Amount” shall not exceed fifty percent (50%) of Consolidated EBITDA for the then most recently
ended Measurement Period.

 

“U.S.
Loan Party” means any Loan Party that is organized under the laws of the United States, any state thereof for the District
of Columbia.

 

“U.S.
Person” means any Person that is a “United States Person” as defined in Section 7701(a)(30) of the
Code.

 

“U.S. Special
Resolution Regimes” has the meaning specified in Section 11.21.

 

“U.S.
Tax Compliance Certificate” has the meaning specified in Section 3.01(f)(ii)(B)(3).

 

“Voting Stock”
means, with respect to any Person, Equity Interests issued by such Person the holders of which are ordinarily, in the absence of contingencies,
entitled to vote for the election of directors (or persons performing similar functions) of such Person, even though the right to so
vote has been suspended by the happening of such contingency.

 

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

 

“Withholding
Agent” means the Borrower and the Administrative Agent.

 

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

 

    42

     

    

 

1.02            Other
Interpretive Provisions.

 

With reference to this Agreement
and each other Loan Document, unless otherwise specified herein or in such other Loan Document:

 

(a)            The
definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require,
any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes”
and “including” shall be deemed to be followed by the phrase “without limitation.” The word “will”
shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise, (i) any
definition of or reference to any agreement, instrument or other document (including the Loan Documents and any Organization Document)
shall be construed as referring to such agreement, instrument or other document as from time to time amended, amended and restated, modified,
extended, restated, replaced or supplemented from time to time (subject to any restrictions on such amendments, supplements or modifications
set forth herein or in any other Loan Document), (ii) any reference herein to any Person shall be construed to include such Person’s
successors and assigns, (iii) the words “hereto,” “herein,” “hereof” and “hereunder,”
and words of similar import when used in any Loan Document, shall be construed to refer to such Loan Document in its entirety and not
to any particular provision thereof, (iv) all references in a Loan Document to Articles, Sections, Preliminary Statements, Exhibits
and Schedules shall be construed to refer to Articles and Sections of, and Preliminary Statements, Exhibits and Schedules to, the Loan
Document in which such references appear, (v) any reference to any law shall include all statutory and regulatory rules, regulations,
orders and provisions consolidating, amending, replacing or interpreting such law and any reference to any law, rule or regulation
shall, unless otherwise specified, refer to such law, rule or regulation as amended, modified, extended, restated, replaced or supplemented
from time to time, and (vi) the words “asset” and “property” shall be construed to have the same meaning
and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract
rights. Any and all references to “Borrower” regardless of whether preceded by the term “a”, “any”,
“each of”, “all”, “and/or”, or any other similar term shall be deemed to refer, as the context requires,
to each and every (and/or any, one or all) parties constituting a Borrower, individually and/or in the aggregate.

 

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

 

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

 

    43

     

    

 

(d)            Any
reference herein to a merger, transfer, consolidation, amalgamation, assignment, sale, disposition or transfer, or similar term, shall
be deemed to apply to a division of or by a limited liability company, or an allocation of assets to a series of a limited liability
company (or the unwinding of such a division or allocation), as if it were a merger, transfer, consolidation, amalgamation, assignment,
sale, disposition or transfer, or similar term, as applicable, to, of or with a separate Person. Any division of a limited liability
company shall constitute a separate Person hereunder (and each division of any limited liability company that is a Subsidiary, joint
venture or any other like term shall also constitute such a Person or entity).

 

1.03            Accounting
Terms.

 

(a)            Generally.
All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data (including
financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity
with, GAAP applied on a consistent basis, as in effect from time to time, applied in a manner consistent with that used in preparing
the Audited Financial Statements, except as otherwise specifically prescribed herein. Notwithstanding the foregoing, for purposes of
determining compliance with any covenant (including the computation of any financial covenant) contained herein, (i) Indebtedness
of Holdings and its Subsidiaries shall be deemed to be carried at 100% of the outstanding principal amount thereof, and the effects of
FASB ASC 825 and FASB ASC 470–20 on financial liabilities shall be disregarded, (ii) all liability amounts shall be determined
excluding any liability relating to any operating lease, all asset amounts shall be determined excluding any right-of-use assets relating
to any operating lease, all amortization amounts shall be determined excluding any amortization of a right-of-use asset relating to any
operating lease, and all interest amounts shall be determined excluding any deemed interest comprising a portion of fixed rent payable
under any operating lease, in each case to the extent that such liability, asset, amortization or interest pertains to an operating lease
under which the covenantor or a member of its consolidated group is the lessee and would not have been accounted for as such under GAAP
as in effect on December 31, 2015, and (iii) all terms of an accounting or financial nature used herein shall be construed,
and all computations of amounts and ratios referred to herein shall be made, without giving effect to any election under FASB ASC Topic
825 “Financial Instruments” (or any other financial accounting standard having a similar result or effect) to value any Indebtedness
of Holdings or any Subsidiary at “fair value”, as defined therein. For purposes of determining the amount of any outstanding
Indebtedness, no effect shall be given to any election by Holdings to measure an item of Indebtedness using fair value (as permitted
by Financial Accounting Standards Board Accounting Standards Codification 825–10–25 (formerly known as FASB 159) or any similar
accounting standard).

 

(b)            Changes
in GAAP. If at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in any Loan
Document, and either the Borrower or the Required Lenders shall so request, the Administrative Agent, the Lenders and the Borrower shall
negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP (subject
to the approval of the Required Lenders); provided that, until so amended, (i) such ratio or requirement shall continue to
be computed in accordance with GAAP prior to such change therein and (ii) the Borrower shall provide to the Administrative Agent
and the Lenders financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth
a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP.

 

    44

     

    

 

(c)            Pro
Forma Treatment. Each Disposition of all or substantially all of a line of business, and each Acquisition, by Holdings and its Subsidiaries
that is consummated during any Measurement Period shall, for purposes of determining compliance with the financial covenants set forth
in Section 7.11 and for purposes of determining the Applicable Rate, be given Pro Forma Effect as of the first day of such
Measurement Period.

 

1.04            Rounding.

 

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

 

1.05            Times
of Day.

 

Unless otherwise specified,
all references herein to times of day shall be references to Central time (daylight or standard, as applicable).

 

1.06            Letter
of Credit Amounts.

 

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

 

1.07            UCC
Terms.

 

Terms defined in the UCC
in effect on the Closing Date and not otherwise defined herein shall, unless the context otherwise indicates, have the meanings provided
by those definitions. Subject to the foregoing, the term “UCC” refers, as of any date of determination, to the UCC then in
effect.

 

1.08            Rates.

 

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

 

    45

     

    

 

Article II

 

COMMITMENTS
AND CREDIT EXTENSIONS

 

2.01            Loans.

 

(a)            Revolving
Loans. Subject to the terms and conditions set forth herein, each Revolving Lender severally agrees to make loans (each such loan,
a “Revolving Loan”) to the Borrower, in Dollars, from time to time, on any Business Day during the Availability
Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Revolving Commitment; provided,
however, that after giving effect to any Revolving Borrowing, (i) the Total Revolving Outstandings shall not exceed the Revolving
Facility, and (ii) the Revolving Exposure of any Lender shall not exceed such Revolving Lender’s Revolving Commitment. Within
the limits of each Revolving Lender’s Revolving Commitment (including each 2021 Revolving Lender’s 2021 Revolving Commitment),
and subject to the other terms and conditions hereof, the Borrower may borrow Revolving Loans, prepay under Section 2.05,
and reborrow under this Section 2.01. Revolving Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided
herein; provided, however, any Revolving Borrowings made on the Closing Date or any of the three (3) Business Days
following the Closing Date shall be made as Base Rate Loans.

 

(b)            Subject
to the terms and conditions set forth herein, on any Incremental Facility Effective Date on which any Incremental Term Loan
Commitments of any Class are effected pursuant to Section 2.16, (i) each Lender of such Class severally
agrees to make its portion of a term loan (each, an “Incremental Term Loan”) to the Borrower in Dollars in
an amount equal to such Lender’s Incremental Term Loan Commitment with respect to such Incremental Term Loan. Amounts repaid
on any Incremental Term Loan may not be reborrowed. An Incremental Term Loan may consist of Base Rate Loans or Eurodollar
Rate Loans, or a combination thereof, as further provided herein.

 

    46

     

    

 

2.02            Borrowings,
Conversions and Continuations of Loans.

 

(a)            Notice
of Borrowing. Each Borrowing, each conversion of Loans from one Type to the other, and each continuation of Eurodollar Rate Loans
shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by: (i) telephone or
(ii) a Loan Notice; provided that any telephonic notice must be confirmed immediately by delivery to the Administrative Agent
of a Loan Notice. Each such Loan Notice must be received by the Administrative Agent not later than 11:00 a.m. (A) three (3) Business
Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurodollar Rate Loans or of any conversion of
Eurodollar Rate Loans to Base Rate Loans, and (B) on the requested date of any Borrowing of Base Rate Loans. Each Borrowing of,
conversion to or continuation of Eurodollar Rate Loans shall be in a principal amount of $2,000,000 or a whole multiple of $1,000,000
in excess thereof (or, in connection with any conversion or continuation of an Incremental Term Loan, the entire principal amount thereof
then outstanding). Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to
Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof; provided that a
Borrowing may be in an amount equal to the remaining unused portion of the aggregate Revolving Commitments (or, in connection with any
conversion or continuation of an Incremental Term Loan, the entire principal amount thereof then outstanding). Each Loan Notice and each
telephonic notice shall specify (I) whether the Borrower is requesting a Borrowing (and, if so, whether the Borrower is requesting
a Borrowing of Revolving Loans or a Borrowing of an Incremental Term Loan), a conversion of Loans from one Type to the other, or a continuation
of Loans, as the case may be, (II) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall
be a Business Day), (III) the principal amount of Loans to be borrowed, converted or continued, (IV) the Type of Loans to be
borrowed or to which existing Loans are to be converted, and (V) if applicable, the duration of the Interest Period with respect
thereto. If the Borrower fails to specify a Type of Loan in a Loan Notice or if the Borrower fails to give a timely notice requesting
a conversion or continuation, then the applicable Loans shall be made as, or converted to, Base Rate Loans. Any such automatic conversion
to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurodollar
Rate Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Rate Loans in any such Loan Notice,
but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month. Notwithstanding
anything to the contrary herein, a Swingline Loan may not be converted to a Eurodollar Rate Loan.

 

(b)            Advances.
Following receipt of a Loan Notice, the Administrative Agent shall promptly notify each Appropriate Lender of the amount of its
Applicable Percentage of the applicable Loans, and if no timely notice of a conversion or continuation is provided by the
Borrower, the Administrative Agent shall notify each Appropriate Lender of the details of any automatic conversion to Base Rate
Loans described in Section 2.02(a). In the case of a Borrowing, each Appropriate Lender shall make the amount of its
Loan available to the Administrative Agent in immediately available funds at the Administrative Agent’s Office not later than
12:00 noon on the Business Day specified in the applicable Loan Notice. Upon satisfaction of the applicable conditions set
forth in Section 4.02 (and, if such Borrowing is the initial Credit Extension, Section 4.01), the
Administrative Agent shall make all funds so received available to the Borrower in like funds as received by the Administrative
Agent either by (i) crediting the account of the Borrower on the books of Bank of America with the amount of such funds or
(ii) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the
Administrative Agent by the Borrower; provided, however, that if, on the date a Loan Notice with respect to a
Revolving Borrowing is given by the Borrower, there are L/C Borrowings outstanding, then the proceeds of such Revolving Borrowing, first,
shall be applied to the payment in full of any such L/C Borrowings, and second, shall be made available to the
Borrower as provided above.

 

    47

     

    

 

(c)            Eurodollar
Rate Loans. Except as otherwise provided herein, a Eurodollar Rate Loan may be continued or converted only on the last day of an
Interest Period for such Eurodollar Rate Loan. During the existence of a Default, no Loans may be requested as, converted to or continued
as Eurodollar Rate Loans without the consent of the Required Lenders, and the Required Lenders may demand that any or all of the outstanding
Eurodollar Rate Loans be converted immediately to Base Rate Loans.

 

(d)            Interest
Rates. Each determination of an interest rate by the Administrative Agent pursuant to any provision of this Agreement shall be conclusive
and binding on the Borrower and the Lenders in the absence of manifest error.

 

(e)            Interest
Periods. After giving effect to all Revolving Borrowings, all conversions of Revolving Loans from one Type to the other, and all
continuations of Revolving Loans as the same Type, there shall not be more than ten (10) Interest Periods in effect simultaneously
in respect of the Revolving Facility.

 

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

 

2.03            Letters
of Credit.

 

(a)            The
Letter of Credit Commitment. Subject to the terms and conditions set forth herein, in addition to the Loans provided for in Section 2.01,
the Borrower may request that the L/C Issuer, in reliance on the agreements of the Revolving Lenders set forth in this Section 2.03,
issue, at any time and from time to time during the Availability Period, Letters of Credit denominated in Dollars for its own
account or the account of any of its Subsidiaries in such form as is acceptable to the L/C Issuer in its reasonable determination.
Letters of Credit issued hereunder shall constitute utilization of the Revolving Commitments.

 

(b)            Notice
of Issuance, Amendment, Extension, Reinstatement or Renewal.

 

(i)            To
request the issuance of a Letter of Credit (or the amendment of the terms and conditions, extension of the terms and conditions, extension
of the expiration date, or reinstatement of amounts paid, or renewal of an outstanding Letter of Credit), the Borrower shall deliver
(or transmit by electronic communication, if arrangements for doing so have been approved by the L/C Issuer) to the L/C Issuer and to
the Administrative Agent not later than 10:00 a.m.  at least two (2) Business Days (or such later date and time as the Administrative
Agent and the L/C Issuer may agree in a particular instance in their sole discretion) prior to the proposed issuance date or date of
amendment, as the case may be a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended,
extended, reinstated or renewed, and specifying the date of issuance, amendment, extension, reinstatement or renewal (which shall be
a Business Day), the date on which such Letter of Credit is to expire (which shall comply with clause (d) of this Section 2.03),
the amount of such Letter of Credit, the name and address of the beneficiary thereof, the purpose and nature of the requested Letter
of Credit and such other information as shall be necessary to prepare, amend, extend, reinstate or renew such Letter of Credit. If requested
by the L/C Issuer, the Borrower also shall submit a letter of credit application and reimbursement agreement on the L/C Issuer’s
standard form in connection with any request for a Letter of Credit. In the event of any inconsistency between the terms and conditions
of this Agreement and the terms and conditions of any form of letter of credit application and reimbursement agreement or other agreement
submitted by the Borrower to, or entered into by the Borrower with, the L/C Issuer relating to any Letter of Credit, the terms and conditions
of this Agreement shall control.

 

    48

     

    

 

 

(ii)            If
the Borrower so requests in any applicable Letter of Credit Application (or the amendment of an outstanding Letter of Credit), the L/C
Issuer may, in its sole discretion, agree to issue a Letter of Credit that has automatic extension provisions (each, an “Auto-Extension
Letter of Credit”); provided that any such Auto-Extension Letter of Credit shall permit the L/C Issuer to prevent
any such extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by giving
prior notice to the beneficiary thereof not later than a day (the “Non-Extension Notice Date”)
in each such twelve-month period to be agreed upon by the Borrower and the L/C Issuer at the time such Letter of Credit is issued. Unless
otherwise directed by the L/C Issuer, the Borrower shall not be required to make a specific request to the L/C Issuer for any
such extension. Once an Auto-Extension Letter of Credit has been issued, the Revolving Lenders shall be deemed to have authorized (but
may not require) the L/C Issuer to permit the extension of such Letter of Credit at any time to an expiration date not later than the
date permitted pursuant to Section 2.03(d); provided that the L/C Issuer shall not (A) permit any such extension
if (1) the L/C Issuer has determined that it would not be permitted, or would have no obligation, at such time to issue such Letter
of Credit in its extended form under the terms hereof (except that the expiration date may be extended to a date that is no more than
one (1) year from the then-current expiration date) or (2) it has received notice (which may be in writing or by telephone
(if promptly confirmed in writing)) on or before the day that is seven (7) Business Days before the Non-Extension Notice Date from
the Administrative Agent that the Required Class Lenders with respect to Revolving Loans have elected not to permit such extension
or (B) be obligated to permit such extension if it has received notice (which may be in writing or by telephone (if promptly confirmed
in writing)) on or before the day that is seven (7) Business Days before the Non-Extension Notice Date from the Administrative Agent,
any Revolving Lender or the Borrower that one or more of the applicable conditions set forth in Section 4.02 is not then
satisfied, and in each such case directing the L/C Issuer not to permit such extension.

 

(c)            Limitations
on Amounts, Issuance and Amendment. A Letter of Credit shall be issued, amended, extended, reinstated or renewed only if (and
upon issuance, amendment, extension, reinstatement or renewal of each Letter of Credit the Borrower shall be deemed to represent and
warrant that), after giving effect to such issuance, amendment, extension, reinstatement or renewal (w) the aggregate amount of
the outstanding Letters of Credit issued by the L/C Issuer shall not exceed its L/C Commitment, (x) the aggregate L/C Obligations
shall not exceed the Letter of Credit Sublimit, (y) the Revolving Exposure of any Lender shall not exceed its Revolving Commitment
and (z) the Total Revolving Exposure shall not exceed the total Revolving Commitments.

 

    49 

     

    

 

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

 

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

 

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

 

(C)            except
as otherwise agreed by the Administrative Agent and the L/C Issuer, the Letter of Credit is in an initial stated amount less than $100,000;

 

(D)            any
Revolving Lender is at that time a Defaulting Lender, unless the L/C Issuer has entered into arrangements, including the delivery of
Cash Collateral, satisfactory to the L/C Issuer (in its sole discretion) with the Borrower or such Lender to eliminate the L/C Issuer’s
actual or potential Fronting Exposure (after giving effect to Section 2.15(a)(iv)) with respect to the Defaulting Lender
arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other L/C Obligations as to which
the L/C Issuer has actual or potential Fronting Exposure, as it may elect in its sole discretion; or

 

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

 

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

 

(d)           Expiration
Date. Each Letter of Credit shall have a stated expiration date no later than the earlier of (x) the date twelve (12) months
after the date of the issuance of such Letter of Credit (or, in the case of any extension of the expiration date thereof, whether automatic
or by amendment, twelve months after the then-current expiration date of such Letter of Credit) and (y) the date that is five
(5) Business Days prior to the Maturity Date.

 

    50 

     

    

 

(e)           Participations.

 

(i)            By
the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount or extending the expiration date thereof),
and without any further action on the part of the L/C Issuer or the Lenders, the L/C Issuer hereby grants to each Revolving Lender, and
each Revolving Lender hereby acquires from the L/C Issuer, a participation in such Letter of Credit equal to such Lender’s Applicable
Percentage of the aggregate amount available to be drawn under such Letter of Credit. Each Revolving Lender acknowledges and agrees that
its obligation to acquire participations pursuant to this clause (e) in respect of Letters of Credit is absolute,
unconditional and irrevocable and shall not be affected by any circumstance whatsoever, including any amendment, extension, reinstatement
or renewal of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the Revolving Commitments.

 

(ii)            In
consideration and in furtherance of the foregoing, each Revolving Lender hereby absolutely, unconditionally and irrevocably agrees to
pay to the Administrative Agent, for account of the L/C Issuer, such Lender’s Applicable Percentage of each L/C Disbursement made
by the L/C Issuer not later than 1:00 p.m. on the Business Day specified in the notice provided by the Administrative Agent to the
Revolving Lenders pursuant to Section 2.03(f) until such L/C Disbursement is reimbursed by the Borrower or at any time
after any reimbursement payment is required to be refunded to the Borrower for any reason, including after the Maturity Date. Such payment
shall be made without any offset, abatement, withholding or reduction whatsoever. Each such payment shall be made in the same manner
as provided in Section 2.02 with respect to Loans made by such Lender (and Section 2.02 shall apply, mutatis
mutandis, to the payment obligations of the Revolving Lenders pursuant to this Section 2.03), and the Administrative
Agent shall promptly pay to the L/C Issuer the amounts so received by it from the Lenders. Promptly following receipt by the Administrative
Agent of any payment from the Borrower pursuant to Section 2.03(f), the Administrative Agent shall distribute such payment
to the L/C Issuer or, to the extent that the Revolving Lenders have made payments pursuant to this clause (e) to reimburse
the L/C Issuer, then to such Lenders and the L/C Issuer as their interests may appear. Any payment made by a Lender pursuant to this
clause (e) to reimburse the L/C Issuer for any L/C Disbursement shall not constitute a Loan and shall not relieve the Borrower
of its obligation to reimburse such L/C Disbursement.

 

(iii)            Each
Revolving Lender further acknowledges and agrees that its participation in each Letter of Credit will be automatically adjusted to reflect
such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit at each time such
Lender’s Commitment is amended pursuant to the operation of Section 2.16, as a result of an assignment in accordance
with Section 11.06 or otherwise pursuant to this Agreement.

 

    51 

     

    

 

(iv)            If
any Revolving Lender fails to make available to the Administrative Agent for the account of the L/C Issuer any amount required to be
paid by such Lender pursuant to the foregoing provisions of this Section 2.03(e), then, without limiting the other provisions
of this Agreement, the L/C Issuer shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand,
such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately
available to the L/C Issuer at a rate per annum equal to the greater of the Federal Funds Rate and a rate determined by
the L/C Issuer in accordance with banking industry rules on interbank compensation, plus any administrative, processing or
similar fees customarily charged by the L/C Issuer in connection with the foregoing. If such Lender pays such amount (with interest and
fees as aforesaid), the amount so paid shall constitute such Lender’s Revolving Loan included in the relevant Revolving Borrowing
or L/C Advance in respect of the relevant L/C Borrowing, as the case may be. A certificate of the L/C Issuer submitted to any Revolving
Lender (through the Administrative Agent) with respect to any amounts owing under this clause (e)(vi) shall be conclusive
absent manifest error.

 

(f)           Reimbursement.
If the L/C Issuer shall make any L/C Disbursement in respect of a Letter of Credit, the Borrower shall reimburse the L/C Issuer in respect
of such L/C Disbursement by paying to the Administrative Agent an amount equal to such L/C Disbursement not later than 11:00 a.m. on
(i) the Business Day that the Borrower receives notice of such L/C Disbursement, if such notice is received prior to 9:00 a.m. or
(ii) the Business Day immediately following the day that the Borrower receives such notice, if such notice is not received prior
to such time, provided that, if such L/C Disbursement is not less than $1,000,000, the Borrower may, subject to the conditions to borrowing
set forth herein, request in accordance with Section 2.02 or Section 2.04 that such payment be financed with
a Borrowing of Base Rate Loans or Swingline Loan in an equivalent amount and, to the extent so financed, the Borrower’s obligation
to make such payment shall be discharged and replaced by the resulting Borrowing of Base Rate Loans or Swingline Loan. If the Borrower
fails to make such payment when due, the Administrative Agent shall notify each Revolving Lender of the applicable L/C Disbursement,
the payment then due from the Borrower in respect thereof (the “Unreimbursed Amount”) and such Lender’s
Applicable Percentage thereof. Promptly upon receipt of such notice, each Revolving Lender shall pay to the Administrative Agent its
Applicable Percentage of the Unreimbursed Amount pursuant to Section 2.03(e)(ii), subject to the amount of the unutilized
portion of the aggregate Revolving Commitments. Any notice given by the L/C Issuer or the Administrative Agent pursuant to this Section 2.03(f) may
be given by telephone if immediately confirmed in writing; provided that the lack of such an immediate confirmation shall not
affect the conclusiveness or binding effect of such notice.

 

    52 

     

    

 

(g)          Obligations
Absolute. The Borrower’s obligation to reimburse L/C Disbursements as provided in clause (f) of this Section 2.03
shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement
under any and all circumstances whatsoever and irrespective of:

 

(i)            any
lack of validity or enforceability of this Agreement, any other Loan Document or any Letter of Credit, or any term or provision herein
or therein;

 

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

 

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

 

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

 

(v)            honor
of a demand for payment presented electronically even if such Letter of Credit required that demand be in the form of a draft;

 

(vi)            any
payment made by the L/C Issuer in respect of an otherwise complying item presented after the date specified as the expiration date of,
or the date by which documents must be received under such Letter of Credit if presentation after such date is authorized by the UCC,
the ISP or the UCP, as applicable;

 

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

 

(viii)            any
other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section 2.03,
constitute a legal or equitable discharge of, or provide a right of setoff against, the Borrower’s obligations hereunder.

 

    53 

     

    

 

(h)           Examination.
The Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the event
of any claim of noncompliance with the Borrower’s instructions or other irregularity, the Borrower will immediately notify the
L/C Issuer. The Borrower shall be conclusively deemed to have waived any such claim against the L/C Issuer and its correspondents unless
such notice is given as aforesaid.

 

(i)           Liability.
None of the Administrative Agent, the Lenders, the L/C Issuer, or any of their Related Parties shall have any liability or responsibility
by reason of or in connection with the issuance or transfer of any Letter of Credit by the L/C Issuer or any payment or failure to make
any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption,
loss or delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including
any document required to make a drawing thereunder), any error in interpretation of technical terms, any error in translation or any
consequence arising from causes beyond the control of the L/C Issuer; provided that the foregoing shall not be construed to excuse
the L/C Issuer from liability to the Borrower to the extent of any direct damages (as opposed to consequential damages, claims in respect
of which are hereby waived by the Borrower to the extent permitted by Applicable Law) suffered by the Borrower that are caused by the
L/C Issuer’s failure to exercise care when determining whether drafts and other documents presented under a Letter of Credit comply
with the terms thereof. The parties hereto expressly agree that, in the absence of gross negligence or willful misconduct on the part
of the L/C Issuer (as finally determined by a court of competent jurisdiction), the L/C Issuer shall be deemed to have exercised care
in each such determination, and that:

 

(i)            the
L/C Issuer may replace a purportedly lost, stolen, or destroyed original Letter of Credit or missing amendment thereto with a certified
true copy marked as such or waive a requirement for its presentation;

 

(ii)            the
L/C Issuer may accept documents that appear on their face to be in substantial compliance with the terms of a Letter of Credit without
responsibility for further investigation, regardless of any notice or information to the contrary, and may make payment upon presentation
of documents that appear on their face to be in substantial compliance with the terms of such Letter of Credit and without regard to
any non-documentary condition in such Letter of Credit;

 

(iii)            the
L/C Issuer shall have the right, in its sole discretion, to decline to accept such documents and to make such payment if such documents
are not in strict compliance with the terms of such Letter of Credit; and

 

(iv)            this
sentence shall establish the standard of care to be exercised by the L/C Issuer when determining whether drafts and other documents presented
under a Letter of Credit comply with the terms thereof (and the parties hereto hereby waive, to the extent permitted by Applicable Law,
any standard of care inconsistent with the foregoing).

 

Without limiting the foregoing, none
of the Administrative Agent, the Lenders, the L/C Issuer, or any of their Related Parties shall have any liability or responsibility
by reason of (A) any presentation that includes forged or fraudulent documents or that is otherwise affected by the fraudulent,
bad faith, or illegal conduct of the beneficiary or other Person, (B) the L/C Issuer declining to take-up documents and make payment,
(C) against documents that are fraudulent, forged, or for other reasons by which that it is entitled not to honor, (D) following
a Borrower’s waiver of discrepancies with respect to such documents or request for honor of such documents or (E) the L/C
Issuer retaining proceeds of a Letter of Credit based on an apparently applicable attachment order, blocking regulation, or third-party
claim notified to the L/C Issuer.

 

    54 

     

    

 

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

 

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

 

(l)            Letter
of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of each Revolving Lender in accordance with its
Applicable Revolving Percentage a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit
equal to the Applicable Rate times the daily amount available to be drawn under such Letter of Credit. For purposes of computing
the daily amount available to be drawn under any standby Letter of Credit, the amount of such Letter of Credit shall be determined in
accordance with Section 1.06. Letter of Credit Fees shall be (i) payable on the first Business Day following the end
of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit,
on the Maturity Date and thereafter, to the extent any such fees remain payable, on demand and (ii) accrued through and including
the last day of each calendar quarter in arrears. If there is any change in the Applicable Rate during any quarter, the daily amount
available to be drawn under each Letter of Credit shall be computed and multiplied by the Applicable Rate separately for each period
during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, upon the request
of the Required Revolving Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate.

 

    55 

     

    

 

(m)            Fronting
Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrower shall pay directly to the L/C Issuer for its own account
a fronting fee with respect to each Letter of Credit, at the rate per annum equal to the percentage separately agreed upon between the
Borrower and the L/C Issuer, computed on the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears.
Such fronting fee shall be due and payable no later than the tenth Business Day after the end of each March, June, September and
December in the most recently- ended quarterly period (or portion thereof, in the case of the first payment), commencing with the
first such date to occur after the issuance of such Letter of Credit, on the Maturity Date and thereafter on demand. For purposes of
computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined
in accordance with Section 1.06. In addition, the Borrower shall pay directly to the L/C Issuer for its own account, in Dollars
the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of the L/C Issuer relating
to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand
and are nonrefundable.

 

(n)            Disbursement
Procedures. The L/C Issuer for any Letter of Credit shall, within the time allowed by Applicable Laws or the specific terms of the
Letter of Credit following its receipt thereof, examine all documents purporting to represent a demand for payment under such Letter
of Credit. the L/C Issuer shall promptly after such examination notify the Administrative Agent and the Borrower in writing of such demand
for payment if the L/C Issuer has made or will make an L/C Disbursement thereunder; provided that any failure to give or delay
in giving such notice shall not relieve the Borrower of its obligation to reimburse the L/C Issuer and the Lenders with respect to any
such L/C Disbursement.

 

(o)            Interim
Interest. If the L/C Issuer for any standby Letter of Credit shall make any L/C Disbursement, then, unless the Borrower shall reimburse
such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day
from and including the date such L/C Disbursement is made to but excluding the date that the Borrower reimburses such L/C Disbursement,
at the rate per annum then applicable to Base Rate Loans; provided that if the Borrower fails to reimburse such L/C Disbursement
when due pursuant to clause (f) of this Section 2.03, then Section 2.08(b) shall apply.
Interest accrued pursuant to this clause (o) shall be for account of the L/C Issuer, except that interest accrued on and
after the date of payment by any Lender pursuant to clause (f) of this Section 2.03 to reimburse the L/C
Issuer shall be for account of such Lender to the extent of such payment.

 

(p)            Replacement
of the L/C Issuer. The L/C Issuer may be replaced at any time by written agreement between the Borrower, the Administrative Agent,
the replaced L/C Issuer and the successor L/C Issuer. The Administrative Agent shall notify the Lenders of any such replacement of the
L/C Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account
of the replaced L/C Issuer pursuant to Section 2.03(m). From and after the effective date of any such replacement, (i) the
successor L/C Issuer shall have all the rights and obligations of an L/C Issuer under this Agreement with respect to Letters of Credit
to be issued by it thereafter and (ii) references herein to the term “L/C Issuer” shall be deemed to include such successor
or any previous L/C Issuer, or such successor and all previous L/C Issuer, as the context shall require. After the replacement of the
L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to have all the rights and obligations of
an L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required
to issue additional Letters of Credit.

 

    56 

     

    

 

(q)          Cash
Collateralization.

 

(i)            If
any Event of Default shall occur and be continuing, on the Business Day that the Borrower receives notice from the Administrative Agent
or the Required Revolving Lenders (or, if the maturity of the Loans has been accelerated, Revolving Lenders with L/C Obligations representing
at least 66-2/3% of the total L/C Obligations) demanding the deposit of Cash Collateral pursuant to this clause (q), the Borrower
shall immediately deposit into an account established and maintained on the books and records of the Administrative Agent (the “Collateral
Account”) an amount in cash equal to 105% of the total L/C Obligations as of such date plus any accrued and unpaid
interest thereon, provided that the obligation to deposit such Cash Collateral shall become effective immediately, and such deposit
shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any Event of Default with
respect to the Borrower described in clause (f) of Section 8.01. Such deposit shall be held by the Administrative
Agent as collateral for the payment and performance of the obligations of the Borrower under this Agreement. In addition, and without
limiting the foregoing or clause (d) of this Section 2.03, if any L/C Obligations remain outstanding after
the expiration date specified in said clause (d), the Borrower shall immediately deposit into the Collateral Account an amount
in cash equal to 105% of such L/C Obligations as of such date plus any accrued and unpaid interest thereon.

 

(ii)            The
Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over the Collateral Account.
Other than any interest earned on the investment of such deposits, which investments shall be made at the option and sole discretion
of the Administrative Agent and at the Borrower’s risk and expense, such deposits shall not bear interest. Interest or profits,
if any, on such investments shall accumulate in the Collateral Account. Moneys in the Collateral Account shall be applied by the Administrative
Agent to reimburse the L/C Issuer for L/C Disbursements for which it has not been reimbursed, together with related fees, costs, and
customary processing charges, and, to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations
of the Borrower for the L/C Obligations at such time or, if the maturity of the Loans has been accelerated (but subject to the consent
of Lenders with L/C Obligations representing 66-2/3% of the total L/C Obligations), be applied to satisfy other obligations of the Borrower
under this Agreement. If the Borrower is required to provide an amount of Cash Collateral hereunder as a result of the occurrence of
an Event of Default, such amount (to the extent not applied as aforesaid) shall be returned to the Borrower within three (3) Business
Days after all Events of Default have been cured or waived.

 

    57 

     

    

 

(r)            Letters
of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations
of, or is for the account of, a Subsidiary, the Borrower shall be obligated to reimburse, indemnify and compensate the L/C Issuer hereunder
for any and all drawings under such Letter of Credit as if such Letter of Credit had been issues solely for the account of the Borrower.
The Borrower irrevocably waives any and all defenses that might otherwise be available to it as a guarantor or surety of any or all of
the obligations of such Subsidiary in respect of such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters
of Credit for the account of Subsidiaries inures to the benefit of the Borrower, and that the Borrower’s business derives substantial
benefits from the businesses of such Subsidiaries.

 

(s)            Conflict
with Issuer Documents. In the event of any conflict between the terms hereof and the terms of any Issuer Document, the terms hereof
shall control.

 

2.04        Swingline
Loans.

 

(a)            The
Swingline. Subject to the terms and conditions set forth herein, the Swingline Lender, in reliance upon the agreements of the other
Lenders set forth in this Section 2.04, may in its sole discretion make loans to the Borrower (each such loan, a “Swingline
Loan”). Each such Swingline Loan may be made, subject to the terms and conditions set forth herein, to the Borrower, in
Dollars, from time to time on any Business Day during the Availability Period in an aggregate amount not to exceed at any time outstanding
the amount of the Swingline Sublimit; provided, however, that (i) after giving effect to any Swingline Loan, (A) the
Total Revolving Outstandings shall not exceed the total Revolving Commitments at such time, and (B) the Revolving Exposure of any
Revolving Lender at such time shall not exceed such Lender’s Revolving Commitment, (ii) the Borrower shall not use the proceeds
of any Swingline Loan to refinance any outstanding Swingline Loan, and (iii) the Swingline Lender shall not be under any obligation
to make any Swingline Loan if it shall determine (which determination shall be conclusive and binding absent manifest error) that it
has, or by such Credit Extension may have, Fronting Exposure. Within the foregoing limits, and subject to the other terms and conditions
hereof, the Borrower may borrow under this Section 2.04, prepay under Section 2.05, and reborrow under this Section 2.04.
Each Swingline Loan shall bear interest only at a rate based on the Base Rate plus the Applicable Rate. Immediately upon the making of
a Swingline Loan, each Revolving Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from
the Swingline Lender a risk participation in such Swingline Loan in an amount equal to the product of such Revolving Lender’s Applicable
Revolving Percentage times the amount of such Swingline Loan.

 

    58 

     

    

 

(b)           Borrowing
Procedures. Each Swingline Borrowing shall be made upon the Borrower’s irrevocable notice to the Swingline Lender and the Administrative
Agent, which may be given by: (i) telephone or (ii) a Swingline Loan Notice; provided that any telephonic notice must
be confirmed immediately by delivery to the Swingline Lender and the Administrative Agent of a Swingline Loan Notice. Each such Swingline
Loan Notice must be received by the Swingline Lender and the Administrative Agent not later than 12:00 noon on the requested borrowing
date, and shall specify (A) the amount to be borrowed, which shall be a minimum of $100,000, and (B) the requested date of
the Borrowing (which shall be a Business Day). Promptly after receipt by the Swingline Lender of any Swingline Loan Notice, the Swingline
Lender will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has also received such Swingline
Loan Notice and, if not, the Swingline Lender will notify the Administrative Agent (by telephone or in writing) of the contents thereof.
Unless the Swingline Lender has received notice (by telephone or in writing) from the Administrative Agent (including at the request
of any Revolving Lender) prior to 1:00 p.m. on the date of the proposed Swingline Borrowing (1) directing the Swingline Lender
not to make such Swingline Loan as a result of the limitations set forth in the first proviso to the first sentence of Section 2.04(a),
or (2) that one or more of the applicable conditions specified in Article IV is not then satisfied, then, subject to
the terms and conditions hereof, the Swingline Lender may, not later than 2:00 p.m., make the amount of its Swingline Loan available
to the Borrower at its office by crediting the account of the Borrower on the books of the Swingline Lender in immediately available
funds.

  

(c)           Refinancing
of Swingline Loans.

 

(i)            The
Swingline Lender at any time in its sole discretion may request, on behalf of the Borrower (which hereby irrevocably authorizes the Swingline
Lender to so request on its behalf), that each Revolving Lender make a Base Rate Loan in an amount equal to such Lender’s Applicable
Revolving Percentage of the amount of Swingline Loans then outstanding. Such request shall be made in writing (which written request
shall be deemed to be a Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.02, without
regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans, but subject to the unutilized portion
of the Revolving Facility and the conditions set forth in Section 4.02. The Swingline Lender shall furnish the Borrower with
a copy of the applicable Loan Notice promptly after delivering such notice to the Administrative Agent. Each Revolving Lender shall make
an amount equal to its Applicable Revolving Percentage of the amount specified in such Loan Notice available to the Administrative Agent
in immediately available funds (and the Administrative Agent may apply Cash Collateral available with respect to the applicable
Swingline Loan) for the account of the Swingline Lender at the Administrative Agent’s Office not later than 12:00 noon on the day
specified in such Loan Notice, whereupon, subject to Section 2.04(c)(ii), each Revolving Lender that so makes funds available
shall be deemed to have made a Base Rate Loan to the Borrower in such amount. The Administrative Agent shall remit the funds so received
to the Swingline Lender.

 

    59 

     

    

 

(ii)            Notwithstanding
anything to the contrary in the foregoing, if for any reason any Swingline Loan cannot be refinanced by such a Revolving Borrowing in
accordance with Section 2.04(c)(i) (including, without limitation, the failure to satisfy the conditions set forth in
Section 4.02), the request for Base Rate Loans submitted by the Swingline Lender as set forth herein shall be deemed to be
a request by the Swingline Lender that each of the Revolving Lenders fund its risk participation in the relevant Swingline Loan and each
Revolving Lender’s payment to the Administrative Agent for the account of the Swingline Lender pursuant to Section 2.04(c)(i) shall
be deemed payment in respect of such participation.

 

(iii)            If
any Revolving Lender fails to make available to the Administrative Agent for the account of the Swingline Lender any amount required
to be paid by such Lender pursuant to the foregoing provisions of this Section 2.04(c) by the time specified in Section 2.04(c)(i),
the Swingline Lender shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount
with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available
to the Swingline Lender at a rate per annum equal to the greater of the Federal Funds Rate and a rate determined by the Swingline Lender
in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees
customarily charged by the Swingline Lender in connection with the foregoing. If such Lender pays such amount (with interest and fees
as aforesaid), the amount so paid shall constitute such Lender’s Revolving Loan included in the relevant Revolving Borrowing or
funded participation in the relevant Swingline Loan, as the case may be. A certificate of the Swingline Lender submitted to any Lender
(through the Administrative Agent) with respect to any amounts owing under this clause (c)(iii) shall be conclusive absent
manifest error.

 

(iv)            Each
Revolving Lender’s obligation to make Revolving Loans or to purchase and fund risk participations in Swingline Loans pursuant to
this Section 2.04(c) shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any
setoff, counterclaim, recoupment, defense or other right which such Lender may have against the Swingline Lender, the Borrower or any
other Person for any reason whatsoever, (B) the occurrence or continuance of a Default or (C) any other occurrence, event or
condition, whether or not similar to any of the foregoing; provided, however, that each Revolving Lender’s obligation
to make Revolving Loans pursuant to this Section 2.04(c) is subject to the conditions set forth in Section 4.02
(other than delivery by the Borrower of a Loan Notice). No such funding of risk participations shall relieve or otherwise impair
the obligation of the Borrower to repay Swingline Loans, together with interest as provided herein.

 

(d)           Repayment
of Participations.

 

(i)            At
any time after any Revolving Lender has purchased and funded a risk participation in a Swingline Loan, if the Swingline Lender receives
any payment on account of such Swingline Loan, the Swingline Lender will distribute to such Revolving Lender its Applicable Revolving
Percentage thereof in the same funds as those received by the Swingline Lender.

 

    60 

     

    

 

(ii)            If
any payment received by the Swingline Lender in respect of principal or interest on any Swingline Loan is required to be returned by
the Swingline Lender under any of the circumstances described in Section 11.05 (including pursuant to any settlement entered
into by the Swingline Lender in its discretion), each Revolving Lender shall pay to the Swingline Lender its Applicable Revolving Percentage
thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned,
at a rate per annum equal to the Federal Funds Rate. The Administrative Agent will make such demand upon the request of the Swingline
Lender. The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and the termination of
this Agreement.

 

(e)            Interest
for Account of Swingline Lender. The Swingline Lender shall be responsible for invoicing the Borrower for interest on the Swingline
Loans. Until each Revolving Lender funds its Base Rate Loan or risk participation pursuant to this Section 2.04 to refinance
such Revolving Lender’s Applicable Revolving Percentage of any Swingline Loan, interest in respect of such Applicable Revolving
Percentage shall be solely for the account of the Swingline Lender.

 

(f)            Payments
Directly to Swingline Lender. The Borrower shall make all payments of principal and interest in respect of the Swingline Loans directly
to the Swingline Lender.

 

2.05        Prepayments.

 

(a)           Optional.

 

(i)            The
Borrower may, upon notice to the Administrative Agent pursuant to delivery to the Administrative Agent of a Notice of Loan Prepayment,
at any time or from time to time voluntarily prepay Loans in whole or in part without premium or penalty subject to Section 3.05;
provided that, unless otherwise agreed by the Administrative Agent, (A) such notice must be received by the Administrative
Agent not later than 11:00 a.m. (1) three (3) Business Days prior to any date of prepayment of Eurodollar Rate Loans and
(2) on the date of prepayment of Base Rate Loans; (B) any prepayment of Eurodollar Rate Loans shall be in a principal amount
of $2,000,000 or a whole multiple of $1,000,000 in excess thereof; (C) any prepayment of Base Rate Loans shall be in a principal
amount of $500,000 or a whole multiple of $100,000 in excess thereof or, in each case, if less, the entire principal amount thereof then
outstanding and (D) any prepayment of any Incremental Term Loan shall be applied as provided in the relevant Incremental Amendment.
Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid and, if Eurodollar
Rate Loans are to be prepaid, the Interest Period(s) of such Loans. The Administrative Agent will promptly notify each Lender of
its receipt of each such notice, and of the amount of such Lender’s ratable portion of such prepayment (based on such Lender’s
Applicable Percentage). If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified
in such notice shall be due and payable on the date specified therein. Any prepayment of a Eurodollar Rate Loan shall be accompanied
by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05.

 

    61 

     

    

 

 

(ii)           The
Borrower may, upon notice to the Swingline Lender pursuant to delivery to the Swingline Lender of a Notice of Loan Prepayment (with a
copy to the Administrative Agent), at any time or from time to time, voluntarily prepay Swingline Loans in whole or in part without premium
or penalty; provided that, unless otherwise agreed by the Swingline Lender, (A) such notice must be received by the Swingline
Lender and the Administrative Agent not later than 1:00 p.m. on the date of the prepayment, and (B) any such prepayment shall
be in a minimum principal amount of $100,000 or a whole multiple of $100,000 in excess hereof (or, if less, the entire principal thereof
then outstanding). Each such notice shall specify the date and amount of such prepayment. If such notice is given by the Borrower, the
Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein.

 

(b)           Mandatory.

 

(i)            Dispositions
and Involuntary Dispositions. The Borrower shall prepay the Loans and/or Cash Collateralize the L/C Obligations as hereinafter provided
in an aggregate amount equal to 100% of the Net Cash Proceeds received by any Loan Party or any Subsidiary from all Dispositions (other
than Permitted Transfers) and Involuntary Dispositions within five (5) Business Days of the date of such Disposition or Involuntary
Disposition; provided, however, that so long as no Event of Default shall have occurred and be continuing, such Net Cash
Proceeds shall not be required to be so applied at the election of the Borrower (as notified by the Borrower to the Administrative Agent)
to the extent such Loan Party or such Subsidiary reinvests or enters into a legally binding commitment to reinvest all or any
portion of such Net Cash Proceeds in equipment or other tangible assets (other than current assets) within the later of (x) one
hundred and eighty (180) days after the receipt of such Net Cash Proceeds or (y) if such Loan Party or such Subsidiary enters into
a legally binding commitment to reinvest such Net Cash Proceeds within 180 days following receipt thereof, 180 days after the date of
such legally binding commitment; provided that (i) if an Event of Default shall have occurred and be continuing, the Loan
Party or such Subsidiary shall not be permitted to make any such reinvestments and (ii) if such Net Cash Proceeds shall have not
been so reinvested by the deadline specified in clause (x) or (y) above, as applicable, or if any such Net Cash Proceeds are
no longer intended to be or cannot be so reinvested at any time, such Net Cash Proceeds shall be immediately applied to prepay the Loans
and/or Cash Collateralize the L/C Obligations.

 

    62

     

    

 

(ii)           Equity
Issuance. During the existence of an Event of Default, immediately upon the receipt by any Loan Party or any Subsidiary of the Net
Cash Proceeds of any Equity Issuance, the Borrower shall prepay the Loans and/or Cash Collateralize the L/C Obligations as hereinafter
provided in an aggregate amount equal to 100% of such Net Cash Proceeds.

 

(iii)          Extraordinary
Receipts. During the existence of an Event of Default, immediately upon receipt by any Loan Party or any Subsidiary of any Extraordinary
Receipt received by or paid to or for the account of any Loan Party or any of its Subsidiaries, and not otherwise included in clauses
(i) or (ii) of this Section 2.05(b), the Borrower shall prepay the Loans and/or Cash Collateralize the
L/C Obligations as hereinafter provided in an aggregate principal amount equal to 100% of all Net Cash Proceeds received therefrom.

 

(iv)          Application
of Payments. Each prepayment of Loans pursuant to the foregoing provisions of clauses (i) through (iii) of
this Section 2.05(b) shall be applied, to the Revolving Facility in the manner set forth in clause (vi) of
this Section 2.05(b). Subject to Section 2.15, such prepayments shall be paid to the Lenders in accordance with
their respective Applicable Percentages.

 

(v)           Revolving
Outstandings. If for any reason the Total Revolving Outstandings at any time exceed the Revolving Facility at such time, the Borrower
shall immediately prepay Revolving Loans, Swingline Loans and L/C Borrowings and/or Cash Collateralize the L/C Obligations in an aggregate
amount equal to such excess; provided, however, that the Borrower shall not be required to Cash Collateralize the L/C Obligations
pursuant to this Section 2.05(b) unless, after the prepayment of the Revolving Loans and Swingline Loans, the Total
Revolving Outstandings exceed the Revolving Facility at such time.

 

(vi)          Application
of Other Payments. Except as otherwise provided in Section 2.15, prepayments of the Revolving Facility made pursuant
to this Section 2.05(b), first, shall be applied ratably to the L/C Borrowings and the Swingline Loans,
second, shall be applied to the outstanding Revolving Loans, and, third, shall be used to Cash Collateralize
the remaining L/C Obligations. Upon the drawing of any Letter of Credit that has been Cash Collateralized, the funds held as Cash Collateral
shall be applied (without any further action by or notice to or from the Borrower or any other Loan Party or any Defaulting Lender that
has provided Cash Collateral) to reimburse the L/C Issuer or the Revolving Lenders, as applicable.

 

Within the parameters of
the applications set forth above, prepayments pursuant to this Section 2.05(b) shall be applied first to Base Rate Loans
and then to Eurodollar Rate Loans in direct order of Interest Period maturities. All prepayments under this Section 2.05(b) shall
be subject to Section 3.05, but otherwise without premium or penalty, and shall be accompanied by interest on the principal
amount prepaid through the date of prepayment.

 

    63

     

    

 

2.06        Termination
or Reduction of Commitments.

 

(a)           Optional.
The Borrower may, upon notice to the Administrative Agent, terminate the Revolving Facility, the Letter of Credit Sublimit or the Swingline
Sublimit, or from time to time permanently reduce the Revolving Facility, the Letter of Credit Sublimit or the Swingline Sublimit; provided
that (i) any such notice shall be received by the Administrative Agent not later than 10:00 a.m. five (5) Business
Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000
or any whole multiple of $1,000,000 in excess thereof and (iii) the Borrower shall not terminate or reduce (A) the Revolving
Facility if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Revolving Outstandings would exceed the
Revolving Facility, (B) the Letter of Credit Sublimit if, after giving effect thereto, the Outstanding Amount of L/C Obligations
not fully Cash Collateralized hereunder would exceed the Letter of Credit Sublimit, or (C) the Swingline Sublimit if, after giving
effect thereto and to any concurrent prepayments hereunder, the Outstanding Amount of Swingline Loans would exceed the Swingline Sublimit.

 

(b)           Mandatory.
If after giving effect to any reduction or termination of Revolving Commitments under this Section 2.06, the Letter of Credit
Sublimit or the Swingline Sublimit exceeds the Revolving Facility at such time, the Letter of Credit Sublimit or the Swingline Sublimit,
as the case may be, shall be automatically reduced by the amount of such excess.

 

(c)           Application
of Commitment Reductions; Payment of Fees. The Administrative Agent will promptly notify the Lenders of any termination or reduction
of the Letter of Credit Sublimit, Swingline Sublimit or the Revolving Commitment under this Section 2.06. All fees in respect
of the Revolving Facility accrued until the effective date of any termination of the Revolving Facility shall be paid on the effective
date of such termination.

 

2.07        Repayment
of Loans.

 

(a)           Revolving
Loans. The Borrower shall repay to the Revolving Lenders on the Maturity Date the aggregate principal amount of all Revolving Loans
outstanding on such date.

 

(b)           Swingline
Loans. The Borrower shall repay each Swingline Loan on the earlier to occur of (i) the date ten (10) Business Days after
such Loan is made and (ii) the Maturity Date. At any time that there shall exist a Defaulting Lender, immediately upon the request
of the Swingline Lender, the Borrower shall repay the outstanding Swingline Loans made by the Swingline Lender in an amount sufficient
to eliminate any Fronting Exposure in respect of such Swingline Loans.

 

(c)           Incremental
Term Loans. The Borrower shall repay the outstanding principal amount of each Incremental Term Loan as provided in the applicable
Incremental Amendment, unless accelerated sooner pursuant to Section 9.02.

 

    64

     

    

 

2.08        Interest
and Default Rate.

 

(a)           Interest.
Subject to the provisions of Section 2.08(b), (i) each Eurodollar Rate Loan shall bear interest on the outstanding principal
amount thereof for each Interest Period from the applicable Borrowing date at a rate per annum equal to the Eurodollar Rate for such
Interest Period plus the Applicable Rate; (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof
from the applicable Borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate; and (iii) each Swingline
Loan shall bear interest on the outstanding principal amount thereof from the applicable Borrowing date at a rate per annum equal to
the Base Rate plus the Applicable Rate for Base Rate Loans. To the extent that any calculation of interest or any fee required to be
paid under this Agreement shall be based on (or result in) a calculation that is less than zero, such calculation shall be deemed zero
for purposes of this Agreement.

 

(b)           Default
Rate.

 

(i)            If
any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturity,
by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal
to the Default Rate to the fullest extent permitted by Applicable Laws.

 

(ii)           If
any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due (without regard
to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required
Lenders such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default
Rate to the fullest extent permitted by Applicable Laws.

 

(iii)          Upon
the request of the Required Lenders which shall be deemed given for an Event of Default under Section 8.01(f) and (g), while
any Event of Default exists (including a payment default), all outstanding Obligations (including Letter of Credit Fees) may accrue at
a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by Applicable Laws.

 

(iv)          Accrued
and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand.

 

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

 

    65

     

    

 

2.09        Fees.

 

In addition to certain fees
described in clauses (l) and (m) of Section 2.03:

 

(a)           Commitment
Fee. The Borrower shall pay to the Administrative Agent for the account of each Revolving Lender in accordance with its Applicable
Revolving Percentage, a commitment fee (“Commitment Fee”) equal to the Applicable Rate times the actual
daily amount by which the Revolving Facility exceeds the sum of (i) the Outstanding Amount of Revolving Loans and (ii) the
Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.15. For the avoidance of doubt, the
Outstanding Amount of Swingline Loans shall not be counted towards or considered usage of the Revolving Facility for purposes of determining
the Commitment Fee. The Commitment Fee shall accrue at all times during the Availability Period, including at any time during which one
or more of the conditions in Article IV is not met, and shall be due and payable quarterly in arrears on the last Business
Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the
last day of the Availability Period. The Commitment Fee shall be calculated quarterly in arrears, and if there is any change in the Applicable
Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period
during such quarter that such Applicable Rate was in effect.

 

(b)           Other
Fees.

 

(i)            The
Borrower shall pay to the Administrative Agent for its own account fees in the amounts and at the times specified in the Fee Letter.
Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever.

 

(ii)           The
Borrower shall pay to the Lenders such fees as shall have been separately agreed upon in writing in the amounts and at the times so specified.
Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever.

 

2.10        Computation
of Interest and Fees; Retroactive Adjustments of Applicable Rate.

 

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

 

    66

     

    

 

(b)           Financial
Statement Adjustments or Restatements. If, as a result of any restatement of or other adjustment to the financial statements of Holdings
and its Subsidiaries or for any other reason, the Borrower or the Lenders determine that (i) the Consolidated Leverage Ratio as
calculated by the Borrower as of any applicable date was inaccurate and (ii) a proper calculation of the Consolidated Leverage Ratio
would have resulted in higher pricing for such period, the Borrower shall immediately and retroactively be obligated to pay to the Administrative
Agent for the account of the applicable Lenders or the L/C Issuer, as the case may be, promptly on demand by the Administrative Agent
(or, after the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under the Bankruptcy Code
of the United States, automatically and without further action by the Administrative Agent, any Lender or the L/C Issuer), an amount
equal to the excess of the amount of interest and fees that should have been paid for such period over the amount of interest and fees
actually paid for such period. This clause (b) shall not limit the rights of the Administrative Agent, any Lender or the
L/C Issuer, as the case may be, under any provision of this Agreement to payment of any Obligations hereunder at the Default Rate or
under Article VIII. The Borrower’s obligations under this clause (b) shall survive the termination of the
Aggregate Commitments and the repayment of all other Obligations hereunder.

 

2.11        Evidence
of Debt.

 

(a)           Maintenance
of Accounts. The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender
in the ordinary course of business. The Administrative Agent shall maintain the Register in accordance with Section 11.06(c).
The accounts or records maintained by each Lender shall be conclusive absent manifest error of the amount of the Credit Extensions made
by the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however,
limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event
of any conflict between the accounts and records maintained by any Lender and the Register, the Register shall control in the absence
of manifest error. Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such
Lender (through the Administrative Agent) a Note, which shall evidence such Lender’s Loans in addition to such accounts or records.
Each Lender may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and
payments with respect thereto.

 

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

 

    67

     

    

 

2.12        Payments
Generally; Administrative Agent’s Clawback.

 

(a)            General.
All payments to be made by the Borrower shall be made free and clear of and without condition or deduction for any counterclaim, defense,
recoupment or setoff. Except as otherwise expressly provided herein, all payments by the Borrower hereunder shall be made to the Administrative
Agent, for the account of the respective Lenders to which such payment is owed, at the Administrative Agent’s Office in Dollars
and in immediately available funds not later than 2:00 p.m. on the date specified herein. The Administrative Agent will promptly
distribute to each Lender its Applicable Percentage (or other applicable share as provided herein) of such payment in like funds as received
by wire transfer to such Lender’s Lending Office. All payments received by the Administrative Agent after 1:00 p.m. shall
be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue. Subject to Section 2.07(a) and
as otherwise specifically provided for in this Agreement, if any payment to be made by the Borrower shall come due on a day other than
a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected in computing
interest or fees, as the case may be.

 

(b)           (i)     Funding
by Lenders; Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender prior
to the proposed date of any Borrowing of Eurodollar Rate Loans (or, in the case of any Borrowing of Base Rate Loans, prior to
11:00 a.m. on the date of such Borrowing) that such Lender will not make available to the Administrative Agent such
Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such
date in accordance with Section 2.02 (or, in the case of a Borrowing of Base Rate Loans, that such Lender has made such
share available in accordance with and at the time required by Section 2.02) and may, in reliance upon such assumption,
make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable
Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the
Administrative Agent forthwith on demand such corresponding amount in immediately available funds with interest thereon, for each
day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the
Administrative Agent, at (A) in the case of a payment to be made by such Lender, the greater of the Federal Funds Rate and a
rate 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, and
(B) in the case of a payment to be made by the Borrower, the interest rate applicable to Base Rate Loans. If the Borrower and
such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent
shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period. If such Lender pays its share
of the applicable Borrowing to the Administrative Agent, then the amount so paid shall constitute such Lender’s Loan included
in such Borrowing. Any payment by the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that
shall have failed to make such payment to the Administrative Agent.

 

    68

     

    

 

(ii)           Payments
by Borrower; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the Borrower
prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the L/C Issuer hereunder
that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such
date in accordance herewith and may, in reliance upon such assumption, distribute to the Appropriate Lenders or the L/C Issuer, as
the case may be, the amount due. With respect to any payment that the Administrative Agent makes for the account of the Lenders or
the L/C Issuer hereunder as to which the Administrative Agent determines (which determination shall be conclusive absent manifest
error) that any of the following applies (such payment referred to as the “Rescindable Amount”):
(A) the Borrower has not in fact made such payment; (B) the Administrative Agent has made a payment in excess of the
amount so paid by the Borrower (whether or not then owed); or (C) the Administrative Agent has for any reason otherwise
erroneously made such payment; then each of the Appropriate Lenders or the L/C Issuer, as the case may be, severally agrees to repay
to the Administrative Agent forthwith on demand the Rescindable Amount so distributed to such Lender or the L/C Issuer, in
immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but
excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate and a rate determined by
the Administrative Agent in accordance with banking industry rules on interbank compensation.

 

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

 

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

 

(d)           Obligations
of Lenders Several. The obligations of the Lenders hereunder to make Revolving Loans, to fund participations in Letters of Credit
and Swingline Loans and to make payments pursuant to Section 11.04(c) are several and not joint. The failure of any
Lender to make any Loan, to fund any such participation or to make any payment under Section 11.04(c) on any date required
hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible
for the failure of any other Lender to so make its Loan, to purchase its participation or to make its payment under Section 11.04(c).

 

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

 

    69

     

    

 

(f)            Pro
Rata Treatment. Except to the extent otherwise provided herein: (i) each Borrowing (other than Swingline Borrowings) shall be
made from the Appropriate Lenders, each payment of fees under Section 2.09 and clauses (l) and (m) of
Section 2.03 shall be made for account of the Appropriate Lenders, and each termination or reduction of the amount of the
Commitments shall be applied to the respective Commitments of the Lenders, pro rata according to the amounts of their respective
Commitments; (ii) each Borrowing shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments
(in the case of the making of Revolving Loans) or their respective Loans that are to be included in such Borrowing (in the case of conversions
and continuations of Loans); (iii) each payment or prepayment of principal of Loans by the Borrower shall be made for account of
the Appropriate Lenders pro rata in accordance with the respective unpaid principal amounts of the Loans held by them; and (iv) each
payment of interest on Loans by the Borrower shall be made for account of the Appropriate Lenders pro rata in accordance with the amounts
of interest on such Loans then due and payable to the respective Appropriate Lenders.

 

2.13        Sharing
of Payments by Lenders.

 

If any Lender shall, by exercising
any right of setoff or counterclaim or otherwise, obtain payment in respect of (a) Obligations due and payable to such Lender hereunder
and under the other Loan Documents at such time in excess of its ratable share (according to the proportion of (i) the amount of
such Obligations due and payable to such Lender at such time to (ii) the aggregate amount of the Obligations due and payable to
all Lenders hereunder and under the other Loan Documents at such time) of payments on account of the Obligations due and payable to all
Lenders hereunder and under the other Loan Documents at such time obtained by all the Lenders at such time or (b) Obligations owing
(but not due and payable) to such Lender hereunder and under the other Loan Documents at such time in excess of its ratable share (according
to the proportion of (i) the amount of such Obligations owing (but not due and payable) to such Lender at such time to (ii) the
aggregate amount of the Obligations owing (but not due and payable) to all Lenders hereunder and under the other Loan Documents at such
time) of payments on account of the Obligations owing (but not due and payable) to all Lenders hereunder and under the other Loan Documents
at such time obtained by all of the Lenders at such time, then, in each case under clauses (a) and (b) above,
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 and sub-participations in L/C Obligations and Swingline 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 in
accordance with the aggregate amount of Obligations then due and payable to the Lenders or owing (but not due and payable) to the Lenders,
as the case may be, provided that:

 

(i)            if
any such participations or sub-participations are purchased and all or any portion of the payment giving rise thereto is recovered, such
participations or sub-participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest;
and

 

    70

     

    

 

(ii)           the
provisions of this Section 2.13 shall not be construed to apply to (A) any payment made by or on behalf of the Borrower
pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising from the existence
of a Defaulting Lender), (B) the application of Cash Collateral provided for in Section 2.14, or (C) any payment
obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans or sub-participations in L/C
Obligations or Swingline Loans to any assignee or participant, other than an assignment to any Loan Party or any Affiliate thereof (as
to which the provisions of this Section 2.13 shall apply).

 

Each Loan Party consents
to the foregoing and agrees, to the extent it may effectively do so under Applicable Law, that any Lender acquiring a participation
pursuant to the foregoing arrangements may exercise against such Loan Party rights of setoff and counterclaim with respect to such
participation as fully as if such Lender were a direct creditor of such Loan Party in the amount of such participation.

 

2.14        Cash
Collateral.

 

(a)           Obligation
to Cash Collateralize. At any time there shall exist a Defaulting Lender, within one Business Day following the written request of
the Administrative Agent or the L/C Issuer (with a copy to the Administrative Agent), the Borrower shall Cash Collateralize the L/C Issuer’s
Fronting Exposure with respect to such Defaulting Lender (determined after giving effect to Section 2.15(a)(iv) and
any Cash Collateral provided by such Defaulting Lender) in an amount not less than the Minimum Collateral Amount.

 

(b)           Grant
of Security Interest. The Borrower, and to the extent provided by any Defaulting Lender, such Defaulting Lender, hereby grants to
(and subjects to the control of) the Administrative Agent, for the benefit of the Administrative Agent, the L/C Issuer and the Lenders,
and agrees to maintain, a first priority security interest (subject to Permitted Liens) in all such cash, deposit accounts and all balances
therein, and all other property so provided as Collateral pursuant hereto, and in all proceeds of the foregoing, all as security for
the obligations to which such Cash Collateral may be applied pursuant to Section 2.14(c). If at any time the Administrative
Agent determines that Cash Collateral is subject to any right or claim of any Person other than the Administrative Agent or the L/C Issuer
as herein provided, or that the total amount of such Cash Collateral is less than the Minimum Collateral Amount, the Borrower will, promptly
upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount sufficient
to eliminate such deficiency (determined in the case of Cash Collateral provided pursuant to Section 2.15(a)(v), after giving
effect to Section 2.15(a)(v) and any Cash Collateral provided by the Defaulting Lender). All Cash Collateral (other
than credit support not constituting funds subject to deposit) shall be maintained in blocked, non-interest bearing deposit accounts
at Bank of America. The Borrower shall pay on demand therefor from time to time all customary account opening, activity and other administrative
fees and charges in connection with the maintenance and disbursement of Cash Collateral.

 

    71

     

    

 

(c)           Application.
Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided under any of this Section 2.14
or Sections 2.03, 2.05, 2.15 or 8.02 in respect of Letters of Credit shall be held and applied to the
satisfaction of the specific L/C Obligations, obligations to fund participations therein (including, as to Cash Collateral provided by
a Revolving Lender that is a Defaulting Lender, any interest accrued on such obligation) and other obligations for which the Cash Collateral
was so provided, prior to any other application of such property as may be provided for herein.

 

(d)           Release.
Cash Collateral (or the appropriate portion thereof) provided to reduce Fronting Exposure or to secure other obligations shall be released
promptly following (i) the elimination of the applicable Fronting Exposure or other obligations giving rise thereto (including by
the termination of Defaulting Lender status of the applicable Revolving Lender (or, as appropriate, its assignee following compliance
with Section 11.06(b)(vi))) or (ii) the determination by the Administrative Agent and the L/C Issuer that there exists
excess Cash Collateral; provided, however, (A) any such release shall be without prejudice to, and any disbursement
or other transfer of Cash Collateral shall be and remain subject to, any other Lien conferred under the Loan Documents and the other
applicable provisions of the Loan Documents, and (B) the Person providing Cash Collateral and the L/C Issuer may agree that Cash
Collateral shall not be released but instead held to support future anticipated Fronting Exposure or other obligations.

 

2.15        Defaulting
Lenders.

 

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

 

(i)            Waivers
and Amendments. Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this
Agreement shall be restricted as set forth in the definition of “Required Lenders” and Section 11.01.

 

    72

     

    

 

(ii)           Defaulting
Lender Waterfall. Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account
of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise) or
received by the Administrative Agent from a Defaulting Lender pursuant to Section 11.08 shall be applied at such time or
times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such
Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts
owing by such Defaulting Lender to the L/C Issuer or the Swingline Lender hereunder; third, to Cash Collateralize the
L/C Issuer’s Fronting Exposure with respect to such Defaulting Lender in accordance with Section 2.14; fourth,
as the Borrower may request (so long as no Event of Default exists), to the funding of any Loan in respect of which such Defaulting
Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; fifth,
if so determined by the Administrative Agent and the Borrower, to be held in a deposit account and released pro rata in order
to (A) satisfy such Defaulting Lender’s potential future funding obligations with respect to Loans under this Agreement
and (B) Cash Collateralize the L/C Issuer’s future Fronting Exposure with respect to such Defaulting Lender with respect
to future Letters of Credit issued under this Agreement, in accordance with Section 2.14; sixth, to the
payment of any amounts owing to the Lenders, the L/C Issuer or Swingline Lender as a result of any judgment of a court of competent
jurisdiction obtained by any Lender, the L/C Issuer or the Swingline Lender against such Defaulting Lender as a result of such Defaulting
Lender’s breach of its obligations under this Agreement; seventh, so long as no Event of Default exists, to the
payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the
Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this
Agreement; and eighth, to such Defaulting Lender or as otherwise as may be required under the Loan Documents in
connection with any Lien conferred thereunder or directed by a court of competent jurisdiction; provided that if
(x) such payment is a payment of the principal amount of any Loans or L/C Borrowings in respect of which such Defaulting Lender
has not fully funded its appropriate share, and (y) such Loans were made or the related Letters of Credit were issued at a time
when the conditions set forth in Section 4.02 were satisfied or waived, such payment shall be applied solely to pay the
Loans of, and L/C Obligations owed to, all Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment
of any Loans of, or L/C Obligations owed to, such Defaulting Lender until such time as all Loans and funded and unfunded
participations in L/C Obligations and Swingline Loans are held by the Lenders pro rata in accordance with the Commitments
hereunder without giving effect to Section 2.15(a)(iv). Any payments, prepayments or other amounts paid or payable to a
Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.15(a)(ii) shall
be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto.

 

(iii)          Certain
Fees.

 

(A)            Fees.
No Defaulting Lender shall be entitled to receive any fee payable under Section 2.09(a) for any period during which
that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been required
to have been paid to that Defaulting Lender).

 

(B)            Letter
of Credit Fees. Each Defaulting Lender shall be entitled to receive Letter of Credit Fees for any period during which that Lender
is a Defaulting Lender only to the extent allocable to its Applicable Percentage of the stated amount of Letters of Credit for which
it has provided Cash Collateral pursuant to Section 2.14.

 

(C)            Defaulting
Lender Fees. With respect to any Letter of Credit Fee not required to be paid to any Defaulting Lender pursuant to clause
(B) above, the Borrower shall (1) pay to each Non-Defaulting Lender that portion of any such fee otherwise payable to
such Defaulting Lender with respect to such Defaulting Lender’s participation in L/C Obligations or Swingline Loans that has
been reallocated to such Non-Defaulting Lender pursuant to clause (iv) below, (2) pay to the L/C Issuer and the Swingline
Lender, as applicable, the amount of any such fee otherwise payable to such Defaulting Lender to the extent allocable to the L/C
Issuer’s or Swingline Lender’s Fronting Exposure to such Defaulting Lender, and (3) not be required to pay the
remaining amount of any such fee.

 

    73

     

    

 

 

(iv)            Reallocation
of Applicable Revolving Percentages to Reduce Fronting Exposure. All or any part of such Defaulting Lender’s participation in
L/C Obligations and Swingline Loans shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Applicable
Revolving Percentages (calculated without regard to such Defaulting Lender’s Commitment) but only to the extent that such reallocation
does not cause the aggregate Revolving Exposure of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Revolving Commitment.
Subject to Section 11.20, no reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder
against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender
as a result of such Non-Defaulting Lender’s increased exposure following such reallocation.

 

(v)            Cash
Collateral, Repayment of Swingline Loans. If the reallocation described in clause (a)(iv) above cannot, or can only partially,
be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under Applicable Law, (A) first,
prepay Swingline Loans in an amount equal to the Swingline Lender’s Fronting Exposure and (B) second, Cash Collateralize
the L/C Issuer’s Fronting Exposure in accordance with the procedures set forth in Section 2.14.

 

(b)            Defaulting
Lender Cure. If the Borrower, the Administrative Agent, the Swingline Lender and the L/C Issuer agree in writing that a Lender is
no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified
in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any Cash Collateral), that
Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders or take such other actions
as the Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit
and Swingline Loans to be held pro rata by the Lenders in accordance with their Revolving Commitments (without giving effect to Section 2.15(a)(iv)),
whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect
to fees accrued or payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and provided, further,
that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will
constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.

 

    74 

     

    

 

(c)            New
Swingline Loans/Letters of Credit. So long as any Revolving Lender is a Defaulting Lender, (i) the Swingline Lender shall not
be required to fund any Swingline Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swingline
Loan and (ii) the L/C Issuer shall not be required to issue, extend, increase, reinstate or renew any letter of Credit unless it
is satisfied that it will have no Fronting Exposure after giving effect thereto.

 

2.16            Increase
in Commitments.

 

(a)            Incremental
Commitments. The Borrower may from time to time after the Closing Date (but in any case not more than eight (8) such requests
and no more than two (2) per year), with ten (10) days’ prior written notice to the Administrative Agent, request (i) one
or more increases to the Revolving Commitments (each, a “Revolving Commitment Increase”) or (ii) one or
more new Classes of Incremental Term Loans (any commitment with respect to any new Class of Incremental Term Loan, an “Incremental
Term Loan Commitment” and any incremental facility incurred pursuant to an Incremental Term Loan Commitment an “Incremental
Term Facility”; any Incremental Term Loan Commitment, or any commitment with respect to any Revolving Commitment Increase,
an “Incremental Commitment” and any incremental facility incurred pursuant to such commitment an “Incremental
Facility”), whereupon the Administrative Agent shall promptly deliver a copy or such written notice to each of the Lenders.

 

(b)            Incremental
Term Loan Commitments. Any Incremental Term Loan Commitments effected through the establishment of one or more new Incremental Term
Facilities shall be designated a separate Class of Incremental Term Loan Commitments and Incremental Term Loans for all purposes
of this Agreement. Notwithstanding the foregoing, Incremental Term Loans may have identical terms to any of the then-outstanding
Incremental Term Loans and be treated as the same Class as any of such Incremental Term Loans.

 

(c)            Request
for Incremental Commitments.     Each request for Incremental Commitments
from the Borrower pursuant to this Section 2.16 shall set forth the requested amount and proposed terms of the relevant Incremental
Commitments. Incremental Commitments may be provided by any existing Lender (but no existing Lender will have any obligation to provide
any Incremental Commitment, and the Borrower will not have any obligation to approach any existing Lenders to provide any Incremental
Commitment) or by any other bank or other financial institution that qualifies as an Eligible Assignee (a “New Lender”).

 

(d)            Effectiveness
of Incremental Commitments.     The effectiveness of any Incremental
Commitments shall be subject to the satisfaction on the date thereof (the “Incremental Facility Effective Date”)
of each of the following conditions:

 

(i)            no
Default or Event of Default shall have occurred and be continuing or would exist after giving effect to such Incremental Commitments;

 

    75 

     

    

 

(ii)            after
giving effect to the establishment of such Incremental Commitments, the aggregate principal amount of all Incremental Commitments effected
pursuant to this Section 2.16 shall not exceed the sum of (x) $75,000,000 plus (y) the maximum amount that
would allow the Loan Parties to remain in Pro Forma Compliance with a Consolidated Secured Net Leverage Ratio of not greater than 3.00:1.00
(with any Incremental Commitments then being incurred or established assumed to be fully drawn, but without netting the proceeds from
any such Incremental Commitments from Indebtedness); provided that, if the Borrower proposes to incur indebtedness in reliance
on the foregoing clause (d)(ii)(x) on the same date that it proposes to incur indebtedness in reliance on the foregoing clause
(d)(ii)(y), then Pro Forma Compliance with the Consolidated Secured Net Leverage Ratio for purposes of the foregoing clause (d)(ii)(y) will
be calculated without giving Pro Forma Effect to indebtedness proposed to be incurred on such date in reliance on the foregoing clause
(d)(ii)(x);

 

(iii)            the
aggregate Incremental Commitments for any Revolving Commitment Increase or any other Class of Incremental Term Loan shall be in an
aggregate principal amount that is not less than $10,000,000 (or if less, the balance of the remaining aggregate principal amount available
for all such Incremental Facilities),) and shall be in an increment of $1,000,000 (or such lesser amounts as agreed by the Administrative
Agent);

 

(iv)            the
Borrower shall deliver to the Administrative Agent a certificate of each Loan Party dated as of the Incremental Facility Effective
Date (in sufficient copies for each Lender) signed by a Responsible Officer of such Loan Party (i) certifying and attaching the
resolutions adopted by such Loan Party approving or consenting to such increase, (ii) in the case of the Borrower, certifying
that, both before and after giving effect to the Incremental Facility and assuming that the full amount of such Incremental Facility
is funded, (A) the representations and warranties contained in Article V and the other Loan Documents (1) that
contain a materiality qualification, are true and correct, on and as of the Incremental Facility Effective Date and (2) that do
not contain a materiality qualification, are true and correct in all material respects, on and as of the Incremental Facility
Effective Date, and except that for purposes of this Section 2.16, (x) the representations and warranties contained
in clauses (a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to
clauses (a) and (b), respectively, of Section 6.01 and (y) any representation and warranty that by its terms is made
only as of an earlier date, shall remain true and correct in all material respects (or in the case of such representations and
warranties that are subject to a materiality qualification, in all respects) as of such earlier date, (B) no Default or Event
of Default exists or would exist after giving effect to the Incremental Commitments, and (C) the Loan Parties are in Pro
Forma Compliance with each of the financial covenants set forth in Section 7.11 (provided that the proceeds of any
Incremental Commitments assumed to be fully drawn shall not be netted from Indebtedness);

 

(v)            The
Borrower shall deliver or cause to be delivered any other customary documents (including, without limitation, legal opinions and amendments
to the Collateral Documents to the extent required by Section 6.13 or Section 6.14) as reasonably requested by
the Administrative Agent in connection with any Incremental Facility;

 

    76 

     

    

 

(vi)            The
Borrower shall prepay any Revolving Loans outstanding on the Revolving Increase Effective Date (and pay any additional amounts required
pursuant to Section 3.05) to the extent necessary to keep the outstanding Revolving Loans ratable with any revised Applicable
Revolving Percentages arising from any nonratable increase in the Revolving Commitments under this Section 2.16.

 

(e)            Required
Terms. The terms, provisions and documentation of the Incremental Commitments of any Class shall be as agreed among the Borrower,
the Administrative Agent and the applicable Lenders providing such Incremental Commitments. In any event:

 

(i)            any
Incremental Commitments with respect to a Revolving Commitment Increase shall be on terms and conditions identical to the aggregate Revolving
Commitments;

 

(ii)            any
Incremental Term Loan Commitments with respect to any new Class of Incremental Term Loan shall be on terms and conditions
reasonably satisfactory to Administrative Agent and may include customary amortization and mandatory prepayments (it being
understood that to the extent any financial maintenance covenant is added for the benefit of any new Class of Incremental Term
Loan (and the Incremental Term Loan Commitments with respect thereto), no consent for such financial maintenance covenant shall be
required from the Administrative Agent or any of the Lenders to the extent that such financial maintenance covenant is also added
for the benefit of the existing credit facilities hereunder); provided, that, any new Class of Incremental Term Loan
shall (A)(1) rank pari passu in right of payment and of security with the Revolving Facility and (2) have no obligors
other than the Loan Parties, (B) not mature earlier than the latest Maturity Date at the time of incurrence of such Incremental
Term Loan, (C) other than customary amortization and customary mandatory prepayments, have a Weighted Average Life to Maturity
not shorter than the then-remaining Weighted Average Life to Maturity of the Revolving Facility and (D) subject to clauses
(B) and (C) of the proviso to this Section 2.16(e)(ii) set forth above, have an Applicable Rate, fees, customary
amortization and customary mandatory prepayments determined by the Borrower and the applicable Lenders providing such
Incremental Term Loan.

 

(f)            Lender
Elections to Increase. Each Revolving Lender shall notify the Administrative Agent within such time period whether or not it agrees
to increase its Revolving Commitment or provide an Incremental Term Loan Commitment and, if so, (i) in the case of a Revolving Commitment,
whether by an amount equal to, greater than, or less than its Applicable Revolving Percentage of such requested increase or (ii) in
the case of an Incremental Term Loan Commitment, the amount of such Incremental Term Loan Commitment. Any Revolving Lender not responding
within such time period shall be deemed to have declined to increase its Revolving Commitment or to provide an Incremental Term Loan Commitment.

 

    77 

     

    

 

(g)            Notification
by Administrative Agent; Additional Revolving Lenders. The Administrative Agent shall notify the Borrower and each Revolving Lender
of the Revolving Lenders’ responses to each request made hereunder.

 

(h)            Effective
Date and Allocations. If there is an Incremental Commitment made in accordance with this Section 2.16, the Administrative
Agent and the Borrower shall determine the Incremental Facility Effective Date and the final allocation of such commitment. The Administrative
Agent shall promptly notify the Borrower and the Revolving Lenders and the New Lenders of the final allocation of such increase and the
Incremental Facility Effective Date.

 

(i)            Conflicting
Provisions. This Section 2.16 shall supersede any provisions in Section 2.13 or 11.01 to the contrary.

 

(j)            Incremental
Amendment. Each Class of Incremental Commitments shall become Commitments under this Agreement pursuant to an amendment (each,
an “Incremental Amendment”) to this Agreement and, as appropriate, the other Loan Documents, executed by the
Borrower, the Lenders providing such Incremental Commitments and the Administrative Agent. Each Incremental Amendment may, without the
consent of any other Lender, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate,
in the reasonable opinion of the Administrative Agent and the Borrower, to effect the provisions of this Section 2.16 with
respect to the establishment of any Incremental Commitments.

 

2.17            Co-Borrower.

 

(a)            Each
Borrower accepts joint and several liability hereunder in consideration of the financial accommodation to be provided by the
Administrative Agent, the Lenders and the L/C Issuer under this Agreement and the other Loan Documents, for the mutual benefit,
directly and indirectly, of each Borrower and in consideration of the undertakings of each Borrower to accept joint and
several liability for the obligations of each Borrower.

 

(b)            Each
Borrower shall be jointly and severally liable for the Obligations, regardless of which Borrower actually receives the Loans hereunder
or the amount of the Obligations received or the manner in which the Administrative Agent or any Lender accounts for the Obligations on
its books and records. Each Borrower’s obligations with respect to Loans made to it, and each Borrower’s obligations arising
as a result of the joint and several liability of such Borrower hereunder, with respect to Loans, Letters of Credit made to and other
Obligations owing by the Borrowers hereunder, shall be separate and distinct obligations, but all such obligations shall be primary obligations
of each Borrower.

 

(c)            Upon
the occurrence and during the continuation of any Event of Default, the Administrative Agent and the Lenders may proceed directly and
at once, without notice, against any Borrower to collect and recover the full amount, or any portion of the Obligations, without first
proceeding against any other Borrower or any other Person, or against any security or collateral for the Obligations. Each Borrower consents
and agrees that the Administrative Agent and the Lenders shall be under no obligation to marshal any assets in favor of any Borrower or
against or in payment of any or all of the Obligations.

 

    78 

     

    

 

Article III

 

TAXES,
YIELD PROTECTION AND ILLEGALITY

 

3.01            Taxes.

 

(a)            Defined
Terms. For purposes of this Section 3.01, the term “Applicable Law” includes FATCA and the term “Lender”
includes any L/C Issuer.

 

(b)            Payments
Free of Taxes; Obligation to Withhold; Payments on Account of Taxes. Any and all payments by or on account of any obligation of any
Loan Party under any Loan Document shall be made without deduction or withholding for any Taxes, except as required by Applicable Laws.
If any Applicable Laws (as determined in the good faith discretion of an applicable Withholding Agent) require the deduction or withholding
of any Tax from any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction
or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with Applicable
Law and, if such Tax is an Indemnified Tax, then the sum payable by the applicable Loan Party shall be increased as necessary so that
after any required withholding or the making of all required deductions (including deductions applicable to additional sums payable under
this Section 3.01) the applicable Recipient receives an amount equal to the sum it would have received had no such withholding
or deduction been made.

 

(c)            Payment
of Other Taxes by the Loan Parties. The Loan Parties shall timely pay to the relevant Governmental Authority in accordance with Applicable
Law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes. In addition and without limiting
the foregoing, each Loan Party agrees to pay any and all present or future stamp, court or documentary taxes and any other excise, property,
intangible or mortgage recording taxes, or charges or levies of the same character, imposed by any Governmental Authority, that arise
from any payment made under any Loan Document or from the execution, delivery, performance, enforcement or registration of, or otherwise
with respect to, any Loan Document (including additions to tax, penalties and interest related thereto) excluding, in each case, such
amounts that result from the Administrative Agent’s, the collateral agent’s or a Lender’s Assignment and Assumption,
grant of a participation, transfer or assignment to or designation of a new applicable Lending Office or other office for receiving payments
under any Loan Document (collectively, “Assignment Taxes”) to the extent such Assignment Taxes result from a
connection that the Administrative Agent or Lender has with the taxing jurisdiction other than the connection arising out of the Loan
Documents or the transactions therein, except for such Assignment Taxes resulting from assignment or participation that is requested or
required in writing by the Borrower.

 

    79 

     

    

 

(d)            Tax
Indemnifications.

 

(i)            Each
of the Loan Parties shall, and does hereby, jointly and severally indemnify each Recipient, and shall make payment in respect thereof
within ten (10) days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed
or asserted on or attributable to amounts payable under this Section 3.01) payable or paid by such Recipient or required to
be withheld or deducted from a payment to such Recipient, and any penalties, interest and reasonable expenses arising therefrom or with
respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority.
A certificate as to the amount of such payment or liability delivered to the Borrower by a Lender (with a copy to the Administrative Agent),
or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error. Each of the Loan
Parties shall also, and does hereby, jointly and severally indemnify the Administrative Agent, and shall make payment in respect thereof
within ten (10) days after demand therefor, for any amount which a Lender for any reason fails to pay indefeasibly to the Administrative
Agent as required pursuant to Section 3.01(c)(ii) below.

 

(ii)            Each
Lender shall, and does hereby, severally indemnify and shall make payment in respect thereof within ten (10) days after demand
therefor, (A) the Administrative Agent against any Indemnified Taxes attributable to such Lender (but only to the extent that
any Loan Party has not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation
of the Loan Parties to do so), (B) the Administrative Agent and the Loan Parties, as applicable, against any Taxes attributable
to such Lender’s failure to comply with the provisions of Section 11.06(d) relating to the maintenance of a
Participant Register and (C) the Administrative Agent and the Loan Parties, as applicable, against any Excluded Taxes
attributable to such Lender, in each case, that are payable or paid by the Administrative Agent or a Loan Party in connection with
any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly
or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability
delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the
Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise
payable by the Administrative Agent to the Lender from any other source against any amount due to the Administrative Agent under
this clause (d)(ii).

 

(e)            Evidence
of Payments. As soon as practicable after any payment of Taxes by any Loan Party to a Governmental Authority, as provided in this
Section 3.01, the Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued
by such Governmental Authority evidencing such payment, a copy of any return reporting such payment or other evidence of such payment
reasonably satisfactory to the Administrative Agent.

 

    80 

     

    

 

(f)            Status
of Lenders; Tax Documentation.

 

(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, if reasonably requested by the Borrower
or the Administrative Agent, shall deliver such other documentation prescribed by Applicable Law or reasonably requested by the Borrower
or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject
to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences,
the completion, execution and submission of such documentation (other than such documentation set forth in Section 3.01(f)(ii)(A),
(ii)(B) and (ii)(D) below) shall not be required if in the Lender’s reasonable judgment such completion,
execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal
or commercial position of such Lender.

 

(ii)            Without
limiting the generality of the foregoing, in the event that the Borrower is a U.S. Person,

 

(A)           any
Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such Lender
becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative
Agent), executed copies of IRS Form W–9 certifying that such Lender is exempt from U.S. federal backup withholding tax;

 

(B)            any
Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such number
of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement
(and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), whichever of the following
is applicable:

 

(1)            in
the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect
to payments of interest under any Loan Document, executed copies of IRS Form W–8BEN–E (or W–8BEN, as applicable)
establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of such tax
treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W–8BEN–E (or
W–8BEN, as applicable) establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business
profits” or “other income” article of such tax treaty;

 

    81 

     

    

 

(2)            executed
copies of IRS Form W–8ECI;

 

(3)            in
the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code,
(x) a certificate substantially in the form of Exhibit L–1 to the effect that such Foreign Lender is not a “bank”
within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the Borrower within the meaning
of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of
the Code (a “U.S. Tax Compliance Certificate”) and (y) executed copies of IRS Form W–8BEN–E
(or W–8BEN, as applicable); or

 

(4)            to
the extent a Foreign Lender is not the beneficial owner, executed copies of IRS Form W–8IMY, accompanied by IRS Form W–8ECI, IRS
Form W–8BEN–E (or W–8BEN, as applicable), a U.S. Tax Compliance Certificate substantially in the form of Exhibit L–2
or Exhibit L–3, IRS Form W–9, and/or other certification documents from each beneficial owner, as applicable;
provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming
the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit L–4
on behalf of each such direct and indirect partner;

 

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

 

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

 

    82 

     

    

 

(iii)            Each
Lender agrees that if any form or certification it previously delivered pursuant to this Section 3.01 expires or becomes obsolete
or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the Administrative Agent
in writing of its legal inability to do so.

 

(g)            Treatment
of Certain Refunds. Unless required by Applicable Laws, at no time shall the Administrative Agent have any obligation to file for
or otherwise pursue on behalf of a Lender, or have any obligation to pay to any Lender, any refund of Taxes withheld or deducted from
funds paid for the account of such Lender. If any Recipient determines, in its sole discretion exercised in good faith, that it has received
a refund of any Taxes as to which it has been indemnified by any Loan Party or with respect to which any Loan Party has paid additional
amounts pursuant to this Section 3.01, it shall pay to such Loan Party an amount equal to such refund (but only to the extent
of indemnity payments made, or additional amounts paid, by such Loan Party under this Section 3.01 with respect to the Taxes
giving rise to such refund), net of all out-of-pocket expenses (including Taxes) incurred by such Recipient, as the case may be, and without
interest (other than any interest paid by the relevant Governmental Authority with respect to such refund), provided that each Loan Party,
upon the request of the Recipient, agrees to repay the amount paid over to such Loan Party (plus any penalties, interest or other charges
imposed by the relevant Governmental Authority) to the Recipient in the event the Recipient is required to repay such refund to such Governmental
Authority. Notwithstanding anything to the contrary in this clause (g), in no event will the applicable Recipient be required to
pay any amount to such Loan Party pursuant to this clause (g) the payment of which would place the Recipient in a less favorable
net after-Tax position than such Recipient 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 clause (g) shall not be construed to require any Recipient to make available its tax returns (or any other
information relating to its Taxes that it deems confidential) to any Loan Party or any other Person.

 

(h)            Survival.
Each party’s obligations under this Section 3.01 shall survive the resignation or replacement of the Administrative
Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction
or discharge of all other Obligations.

 

    83 

     

    

 

3.02            Illegality.

 

If any Lender
determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Lender or
its Lending Office to make, maintain or fund or charge interest with respect to any Credit Extension, or to determine or charge
interest rates based upon the Eurodollar Rate, or any Governmental Authority has imposed material restrictions on the authority of
such Lender to purchase or sell, or to take deposits of, Dollars in the London interbank market, then, upon notice thereof by such
Lender to the Borrower (through the Administrative Agent), (i) any obligation of such Lender to make or continue Eurodollar
Rate Loans to convert Base Rate Loans to Eurodollar Rate Loans shall be suspended, and (ii) if such notice asserts the
illegality of such Lender making or maintaining Base Rate Loans the interest rate on which is determined by reference to the
Eurodollar Rate component of the Base Rate, the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid
such illegality, be determined by the Administrative Agent without reference to the Eurodollar Rate component of the Base Rate, in
each case until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such
determination no longer exist. Upon receipt of such notice, (A) the Borrower shall, upon demand from such Lender (with a copy
to the Administrative Agent), prepay or, if applicable, convert all Eurodollar Rate Loans of such Lender to Base Rate Loans (the
interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the
Administrative Agent without reference to the Eurodollar Rate component of the Base Rate), either on the last day of the Interest
Period therefor, if such Lender may lawfully continue to maintain such Eurodollar Rate Loans to such day, or immediately, if such
Lender may not lawfully continue to maintain such Eurodollar Rate Loans and (B) if such notice asserts the illegality of such
Lender determining or charging interest rates based upon the Eurodollar Rate, the Administrative Agent shall during the period of
such suspension compute the Base Rate applicable to such Lender without reference to the Eurodollar Rate component thereof until the
Administrative Agent is advised in writing by such Lender that it is no longer illegal for such Lender to determine or charge
interest rates based upon the Eurodollar Rate. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest
on the amount so prepaid or converted, together with any additional amounts required pursuant to Section 3.05.

 

3.03            Inability
to Determine Rates.

 

(a)            If
in connection with any request for a Eurodollar Rate Loan or a conversion to or continuation thereof, (i) the Administrative
Agent determines that (A) Dollar deposits are not being offered to banks in the London interbank eurodollar market for the
applicable amount and Interest Period of such Eurodollar Rate Loan, or (B) (1) adequate and reasonable means do not exist
for determining the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan or in
connection with an existing or proposed Base Rate Loan and (2) the circumstances described in Section 3.03(c)(i) do
not apply (in each case with respect to this clause (i), “Impacted Loans”), or (ii) the
Administrative Agent or the Required Lenders determine that for any reason Eurodollar Rate for any requested Interest Period with
respect to a proposed Eurodollar Rate Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, the
Administrative Agent will promptly so notify the Borrower and each Lender. Thereafter, (x) the obligation of the Lenders to
make or maintain Eurodollar Rate Loans shall be suspended (to the extent of the affected Eurodollar Rate Loans or Interest Periods),
and (y) in the event of a determination described in the preceding sentence with respect to the Eurodollar Rate component of
the Base Rate, the utilization of the Eurodollar Rate component in determining the Base Rate shall be suspended, in each case until
the Administrative Agent (or, in the case of a determination by the Required Lenders described in clause (ii) of
this Section 3.03(a), until the Administrative Agent upon instruction of the Required Lenders) revokes such
notice. Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion to or continuation
of Eurodollar Rate Loans (to the extent of the affected Eurodollar Rate Loans or Interest Periods) or, failing that, will be deemed
to have converted such request into a request for a Borrowing of Base Rate Loans in the amount specified therein.

 

    84 

     

    

 

(b)            Notwithstanding
the foregoing, if the Administrative Agent has made the determination described in clause (a)(i) of this Section 3.03,
the Administrative Agent in consultation with the Borrower, may establish an alternative interest rate for the Impacted Loans, in which
case, such alternative rate of interest shall apply with respect to the Impacted Loans until (i) the Administrative Agent revokes
the notice delivered with respect to the Impacted Loans under clause (a)(i) of this Section 3.03, (ii) the
Administrative Agent or the Required Lenders notify the Administrative Agent and the Borrower that such alternative interest rate does
not adequately and fairly reflect the cost to the Lenders of funding the Impacted Loans, or (iii) any Lender determines that any
Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for such Lender or its applicable Lending
Office to make, maintain or fund Loans whose interest is determined by reference to such alternative rate of interest or to determine
or charge interest rates based upon such rate or any Governmental Authority has imposed material restrictions on the authority of such
Lender to do any of the foregoing and provides the Administrative Agent and the Borrower written notice thereof.

 

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

 

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

 

    85 

     

    

 

 

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

  

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

 

(iv)            syndicated
loans currently being executed, or that include language similar to that contained in this Section 3.03, are being executed
or amended (as applicable) to incorporate or adopt a new benchmark interest rate to replace LIBOR;

 

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

 

(x)            Term
SOFR plus the Related Adjustment; and

 

(y)            SOFR
plus the Related Adjustment;

 

and in the case of clause (iv) above,
the Borrower and Administrative Agent may amend this Agreement solely for the purpose of replacing LIBOR under this Agreement and under
any other Loan Document in accordance with the definition of “LIBOR Successor Rate” and such amendment will become effective
at 5:00 p.m., on the fifth Business Day after the Administrative Agent shall have notified all Lenders and the Borrower of the occurrence
of the circumstances described in clause (iv) above unless, prior to such time, Lenders comprising the Required Lenders have
delivered to the Administrative Agent written notice that such Required Lenders object to the implementation of a LIBOR Successor Rate
pursuant to such clause;

 

provided
that, if the Administrative Agent determines that Term SOFR has become available, is administratively feasible for the
Administrative Agent and would have been identified as the Pre-Adjustment Successor Rate in accordance with the foregoing if it had been
so available at the time that the LIBOR Successor Rate then in effect was so identified, and the Administrative Agent notifies the Borrower
and each Lender of such availability, then from and after the beginning of the Interest Period, relevant interest payment date or payment
period for interest calculated, in each case, commencing no less than thirty (30) days after the date of such notice, the Pre-Adjustment
Successor Rate shall be Term SOFR and the LIBOR Successor Rate shall be Term SOFR plus the relevant Related Adjustment.

 

    86 

     

    

 

The Administrative
Agent will promptly (in one or more notices) notify the Borrower and each Lender of (x) any occurrence of any of the events, periods
or circumstances under clauses (i) through (iii) above, (y) a LIBOR Replacement Date and (z) the LIBOR
Successor Rate.

 

Any LIBOR Successor
Rate shall be applied in a manner consistent with market practice; provided that to the extent such market practice is not administratively
feasible for the Administrative Agent, such LIBOR Successor Rate shall be applied in a manner as otherwise reasonably determined by the
Administrative Agent.

 

Notwithstanding
anything else herein, if at any time any LIBOR Successor Rate as so determined would otherwise be less than 0%, the LIBOR Successor Rate
will be deemed to be 0% for the purposes of this Agreement and the other Loan Documents.

 

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

 

If the events or
circumstances of the type described in Section 3.03(c)(i)-(iii) have occurred with respect to the LIBOR Successor Rate
then in effect, then the successor rate thereto shall be determined in accordance with the definition of “LIBOR Successor Rate.”

 

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

 

    87 

     

    

 

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

 

3.04        Increased
Costs; Reserves on Eurodollar Rate Loans.

 

(a)            Increased
Costs Generally. If any Change in Law shall:

 

(i)            impose,
modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets of, deposits
with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement contemplated by Section 3.04(e))
or the L/C Issuer;

 

(ii)            subject
any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d) of
the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments,
or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; or

 

(iii)            impose
on any Lender or the L/C Issuer or the London interbank market any other condition, cost or expense affecting this Agreement or Eurodollar
Rate Loans made by such Lender or any Letter of Credit or participation therein;

 

and the result of any of the foregoing
shall be to increase the cost to such Lender of making, converting to, continuing or maintaining any Loan (or of maintaining its obligation
to make any such Loan), or to increase the cost to such Lender or the L/C Issuer of participating in, issuing or maintaining any Letter
of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum received
or receivable by such Lender or the L/C Issuer hereunder (whether of principal, interest or any other amount) then, upon request of such
Lender or the L/C Issuer, the Borrower will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts
as will compensate such Lender or the L/C Issuer, as the case may be, for such additional costs incurred or reduction suffered.

 

    88 

     

    

 

(b)            Capital
Requirements. If any Lender or the L/C Issuer determines that any Change in Law affecting such Lender or the L/C Issuer or any Lending
Office of such Lender or such Lender’s or the L/C Issuer’s holding company, if any, regarding capital or liquidity requirements
has or would have the effect of reducing the rate of return on such Lender’s or the L/C Issuer’s capital or on the capital
of such Lender’s or the L/C Issuer’s holding company, if any, as a consequence of this Agreement, the Commitments of such
Lender or the Loans made by, or participations in Letters of Credit or Swingline Loans held by, such Lender, or the Letters of Credit
issued by the L/C Issuer, to a level below that which such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s
holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or the L/C Issuer’s
policies and the policies of such Lender’s or the L/C Issuer’s holding company with respect to capital adequacy), then from
time to time the Borrower will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate
such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company for any such reduction suffered.

 

(c)            Certificates
for Reimbursement. A certificate of a Lender or the L/C Issuer setting forth the amount or amounts necessary to compensate such Lender
or the L/C Issuer or its holding company, as the case may be, as specified in clause (a) or (b) of this
Section 3.04 and delivered to the Borrower shall be conclusive absent manifest error. The Borrower shall pay such Lender
or the L/C Issuer, as the case may be, the amount shown as due on any such certificate within ten (10) days after receipt thereof.

 

(d)            Reserves
on Eurodollar Rate Loans. The Borrower shall pay to each Lender, (i) as long as such Lender shall be required to maintain reserves
with respect to liabilities or assets consisting of or including eurocurrency funds or deposits (currently known as “Eurocurrency
liabilities”), additional interest on the unpaid principal amount of each Eurodollar Rate Loan equal to the actual costs of such
reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive),
and (ii) as long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any central
banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of the Loans, such
additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to
the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination
shall be conclusive), which in each case shall be due and payable on each date on which interest is payable on such Loan, provided the
Borrower shall have received at least ten (10) days’ prior notice (with a copy to the Administrative Agent) of such additional
interest or costs from such Lender. If a Lender fails to give notice ten (10) days prior to the relevant Interest Payment Date,
such additional interest shall be due and payable ten (10) days from receipt of such notice.

 

    89 

     

    

 

(e)            Delay
in Requests. Failure or delay on the part of any Lender or the L/C Issuer to demand compensation pursuant to the foregoing provisions
of this Section 3.04 shall not constitute a waiver of such Lender’s or the L/C Issuer’s right to demand such
compensation, provided that the Borrower shall not be required to compensate a Lender or the L/C Issuer pursuant to the foregoing provisions
of this Section 3.04 for any increased costs incurred or reductions suffered more than nine (9) months prior to the
date that such Lender or the L/C Issuer, as the case may be, notifies the Borrower of the Change in Law giving rise to such increased
costs or reductions and of such Lender’s or the L/C Issuer’s intention to claim compensation therefor (except that, if the
Change in Law giving rise to such increased costs or reductions is retroactive, then the nine (9) month period referred to above
shall be extended to include the period of retroactive effect thereof).

 

3.05        Compensation
for Losses.

 

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

 

(a)            any
continuation, conversion, payment or prepayment of any Loan other than a Base Rate Loan on a day other than the last day of the Interest
Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise);

 

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

 

(c)            any
assignment of a Eurodollar Rate Loan on a day other than the last day of the Interest Period therefor as a result of a request by the
Borrower pursuant to Section 11.13;

 

including any loss of anticipated profits
and any loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain such Loan or from fees payable
to terminate the deposits from which such funds were obtained. The Borrower shall also pay any customary administrative fees charged
by such Lender in connection with the foregoing.

 

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

 

    90 

     

    

 

3.06        Mitigation
Obligations; Replacement of Lenders.

  

(a)            Designation
of a Different Lending Office. If any Lender requests compensation under Section 3.04, or requires the Borrower to pay
any Indemnified Taxes or additional amounts to any Lender, the L/C Issuer, or any Governmental Authority for the account of any Lender
or the L/C Issuer pursuant to Section 3.01, or if any Lender gives a notice pursuant to Section 3.02, then at
the request of the Borrower, such Lender or the L/C Issuer shall, as applicable, use reasonable efforts to designate a different Lending
Office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches
or Affiliates, if, in the judgment of such Lender or the L/C Issuer, such designation or assignment (i) would eliminate or reduce
amounts payable pursuant to Section 3.01 or 3.04, as the case may be, in the future, or eliminate the need for the
notice pursuant to Section 3.02, as applicable, and (ii) in each case, would not subject such Lender or the L/C Issuer,
as the case may be, to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender or the L/C Issuer,
as the case may be. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender or the L/C Issuer in connection
with any such designation or assignment.

 

(b)            Replacement
of Lenders. If any Lender requests compensation under Section 3.04, or if the Borrower is required to pay any Indemnified
Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01
and, in each case, such Lender has declined or is unable to designate a different lending office in accordance with Section 3.06(a),
the Borrower may replace such Lender in accordance with Section 11.13.

 

3.07        Survival.
All of the Borrower’s obligations under this Article III shall survive termination of the Aggregate Commitments, repayment
of all other Obligations hereunder, resignation of the Administrative Agent and the Facility Termination Date.

 

Article IV

 

CONDITIONS
PRECEDENT TO CREDIT EXTENSIONS

 

4.01        Conditions
of Initial Credit Extension.

 

The obligation of the L/C
Issuer and each Lender to make its initial Credit Extension hereunder is subject to satisfaction of the following conditions precedent:

 

(a)            Execution
of Credit Agreement; Loan Documents. The Administrative Agent shall have received (i) counterparts of this Agreement, executed
by a Responsible Officer of each Loan Party and a duly authorized officer of each Lender, (ii) for the account of each Lender requesting
a Note, a Note executed by a Responsible Officer of the Borrower, (iii) counterparts of the Security Agreement, and each other applicable
Collateral Document, executed by a Responsible Officer of the applicable Loan Parties and a duly authorized officer of each other Person
party thereto, as applicable and (iv) counterparts of any other Loan Document, executed by a Responsible Officer of the applicable
Loan Party and a duly authorized officer of each other Person party thereto.

 

    91 

     

    

  

(b)           Officer’s
Certificate. The Administrative Agent shall have received an Officer’s Certificate dated the Closing Date, certifying as to
the Organization Documents of each Loan Party (which, to the extent filed with a Governmental Authority, shall be certified as of a recent
date by such Governmental Authority), the resolutions of the governing body of each Loan Party, the good standing, existence or its equivalent
of each Loan Party and of the incumbency (including specimen signatures) of the Responsible Officers of each Loan Party.

 

(c)           Legal
Opinions of Counsel. The Administrative Agent shall have received an opinion or opinions (including, if requested by the Administrative
Agent, local counsel opinions) of counsel for the Loan Parties, dated the Closing Date and addressed to the Administrative Agent and
the Lenders, in form and substance acceptable to the Administrative Agent.

 

(d)           Financial
Statements. The Administrative Agent and the Lenders shall have received copies of the financial statements referred to in Section 5.05,
each in form and substance satisfactory to each of them.

 

(e)           Personal
Property Collateral. The Administrative Agent shall have received, in form and substance satisfactory to the Administrative Agent:

 

(i)          (A) searches
of UCC filings in the jurisdiction of incorporation or formation, as applicable, of each Loan Party and each jurisdiction where any Collateral
is located or where a filing would need to be made in order to perfect the Administrative Agent’s security interest in the Collateral,
copies of the financing statements on file in such jurisdictions and evidence that no Liens exist other than Permitted Liens and (B) tax
lien, judgment and bankruptcy searches;

 

(ii)         searches
of ownership of Intellectual Property in the appropriate governmental offices and such patent/trademark/copyright filings as requested
by the Administrative Agent in order to perfect the Administrative Agent’s security interest in Intellectual Property;

 

(iii)        completed
UCC financing statements for each appropriate jurisdiction as is necessary, in the Administrative Agent’s sole discretion, to perfect
(or reaffirm) the Administrative Agent’s security interest in the Collateral;

 

(iv)        to
the extent not already delivered in connection with the Existing Credit Agreement, stock or membership certificates, if any, evidencing
the Pledged Equity and undated stock or transfer powers duly executed in blank, in each case to the extent such Pledged Equity is certificated;

 

(v)         [reserved];

 

    92 

     

    

 

(vi)            to
the extent required to be delivered, filed, registered or recorded pursuant to the terms and conditions of the Collateral Documents and
not already delivered, all instruments, documents and chattel paper in the possession of any of the Loan Parties, together with allonges
or assignments as may be necessary or appropriate to create and perfect the Administrative Agent’s and the Lenders’ security
interest in the Collateral;

  

(vii)            [reserved];

 

(f)            Liability,
Casualty, Property, Terrorism and Business Interruption Insurance. To the extent not already delivered in connection with the Existing
Credit Agreement, the Administrative Agent shall have received copies of insurance certificates evidencing liability, casualty, property,
terrorism and business interruption insurance meeting the requirements set forth herein or in the Collateral Documents or as reasonably
required by the Administrative Agent. The Loan Parties shall have delivered to the Administrative Agent an Authorization to Share Insurance
Information.

 

(g)           Solvency
Certificate. The Administrative Agent shall have received a Solvency Certificate signed by a Responsible Officer of the Borrower
as to the financial condition, solvency and related matters of the Borrower and its Subsidiaries, after giving effect to the initial
Borrowings under the Loan Documents and the other transactions contemplated hereby.

 

(h)           Financial
Condition Certificate. The Administrative Agent shall have received a certificate or certificates executed by a Responsible Officer
of the Borrower as of the Closing Date, as to certain financial matters, substantially in the form of Exhibit N.

 

(i)            Loan
Notice. The Administrative Agent shall have received a Loan Notice with respect to the Loans to be made on the Closing Date.

 

(j)            Existing
Indebtedness of the Loan Parties. Prior to, or substantially concurrently with the initial extension of credit hereunder, all of
the existing Indebtedness for borrowed money of the Borrower and its Subsidiaries (other than Indebtedness permitted to exist pursuant
to Section 7.02) shall be repaid in full and all security interests related thereto (other than security interests related
to Indebtedness under the Existing Credit Agreement) shall be terminated on or prior to the Closing Date.

 

(k)           [reserved].

 

(l)            Anti-Money-Laundering;
Beneficial Ownership. Upon the reasonable request of any Lender, the Borrower shall have provided to such Lender, and such Lender
shall be reasonably satisfied with, the documentation and other information so requested in connection with applicable “know your
customer” and anti-money-laundering rules and regulations, including, without limitation, the Patriot Act, and any Loan Party
that qualifies as a “legal entity customer” under the Beneficial Ownership Regulation shall have delivered to each Lender
that so requests, a Beneficial Ownership Certification in relation to such Loan Party.

 

    93 

     

    

 

(m)          Consents.
The Administrative Agent shall have received evidence that all members, boards of directors, governmental, shareholder and material third
party consents and approvals necessary in connection with the entering into of this Agreement have been obtained.

  

(n)           Fees
and Expenses. The Administrative Agent and the Lenders shall have received all fees and expenses, if any, owing pursuant to the Fee
Letter and Section 2.09.

 

(o)           Due
Diligence. The Lenders shall have completed a due diligence investigation of the Borrower and its Subsidiaries in scope, and with
results, satisfactory to the Lenders.

 

(p)           Other
Documents. All other documents provided for herein or which the Administrative Agent or any other Lender may reasonably request or
require.

 

(q)           Additional
Information. Such additional information and materials which the Administrative Agent and/or any Lender shall reasonably request
or require.

 

(r)            Perfection
Certificate. Administrative Agent shall have received a completed perfection certificate dated as of the Closing Date and signed
by a Responsible Officer of each Loan Party, together with all attachments contemplated thereby.

 

Without limiting the generality
of the provisions of Section 9.03(c), for purposes of determining compliance with the conditions specified in this Section 4.01,
each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document
or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative
Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its objection thereto.

 

4.02        Conditions
to all Credit Extensions.

 

The obligation of each Lender
and the L/C Issuer to honor any Request for Credit Extension is subject to the following conditions precedent:

 

(a)           Representations
and Warranties. The representations and warranties of the Borrower and each other Loan Party contained in Article II,
Article V or any other Loan Document, or which are contained in any document furnished at any time under or in connection
herewith or therewith, shall (i) with respect to representations and warranties that contain a materiality qualification, be true
and correct on and as of the date of such Credit Extension and (ii) with respect to representations and warranties that do not contain
a materiality qualification, be true and correct in all material respects on and as of the date of such Credit Extension, and except
that for purposes of this Section 4.02, the representations and warranties contained in Sections 5.05(a) and
(b) shall be deemed to refer to the most recent statements furnished pursuant to Sections 6.01(a) and (b),
respectively.

 

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

 

    94 

     

    

 

(c)            Request
for Credit Extension. The Administrative Agent and, if applicable, the L/C Issuer or the Swingline Lender shall have received a Request
for Credit Extension in accordance with the requirements hereof.

  

Each Request for Credit Extension
submitted by the Borrower shall be deemed to be a representation and warranty that the conditions specified in Sections 4.02(a) and (b) have
been satisfied on and as of the date of the applicable Credit Extension.

 

Article V

 

REPRESENTATIONS
AND WARRANTIES

 

Each Loan Party represents
and warrants to the Administrative Agent and the Lenders, as of the date made or deemed made, that:

 

5.01        Existence,
Qualification and Power. Each Loan Party and each of its Subsidiaries (a) is duly organized or formed, validly existing
and, as applicable, in good standing under the Laws of the jurisdiction of its incorporation or organization, (b) has all requisite
power and authority and all requisite governmental licenses, authorizations, consents and approvals to (i) own or lease its assets
and carry on its business and (ii) execute, deliver and perform its obligations under the Loan Documents to which it is a party,
and (c) is duly qualified and is licensed and, as applicable, in good standing under the Laws of each jurisdiction where its ownership,
lease or operation of properties or the conduct of its business requires such qualification or license; except in each case referred
to in clause (b)(i) or (c), to the extent that failure to do so could not reasonably be expected to have a Material
Adverse Effect. The copy of the Organization Documents of each Loan Party provided to the Administrative Agent pursuant to the terms
of this Agreement is a true and correct copy of each such document, each of which is valid and in full force and effect.

 

5.02       Authorization;
No Contravention. The execution, delivery and performance by each Loan Party of each Loan Document to which such Person
is or is to be a party have been duly authorized by all necessary corporate or other organizational action, and do not and will not (a) contravene
the terms of any of such Person’s Organization Documents; (b) conflict with or result in any breach or contravention of, or
the creation of (or the requirement to create) any Lien (other than Liens created under the Loan Documents) under, or require any payment
to be made under (i) any Contractual Obligation (other than Permitted Liens) to which such Person is a party or affecting such Person
or the properties of such Person or any of its Subsidiaries or (ii) any order, injunction, writ or decree of any Governmental Authority
or any arbitral award to which such Person or its property is subject; or (c) violate any Applicable Law.

 

5.03        Governmental
Authorization; Other Consents. No approval, consent, exemption, authorization, or other action by, or notice to, or filing
with, any Governmental Authority or any other Person is necessary or required in connection with (a) the execution, delivery or
performance by, or enforcement against, any Loan Party of this Agreement or any other Loan Document, (b) the grant by any Loan Party
of the Liens granted by it pursuant to the Collateral Documents, (c) the perfection or maintenance of the Liens created under the
Collateral Documents (including the first priority nature thereof, subject to Permitted Liens) or (d) the exercise by the Administrative
Agent or any Lender of its rights under the Loan Documents or the remedies in respect of the Collateral pursuant to the Collateral Documents,
other than (i) authorizations, approvals, actions, notices and filings which have been duly obtained and (ii) filings to perfect
the Liens created by the Collateral Documents.

 

    95 

     

    

 

5.04            Binding
Effect. This Agreement has been, and each other Loan Document, when delivered hereunder, will have been, duly
executed and delivered by each Loan Party that is party thereto. This Agreement constitutes, and each other Loan Document when so
delivered will constitute, a legal, valid and binding obligation of such Loan Party, enforceable against each Loan Party that is
party thereto in accordance with its terms.

 

5.05            Financial
Statements; No Material Adverse Effect.

 

(a)            Audited
Financial Statements. The Audited Financial Statements (i) were prepared in accordance with GAAP consistently applied throughout
the period covered thereby, except as otherwise expressly noted therein; (ii) fairly present the financial condition of Holdings
and its Subsidiaries as of the date thereof and their results of operations, cash flows and changes in Shareholders’ Equity for
the period covered thereby in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly
noted therein; and (iii) show all material indebtedness and other liabilities, direct or contingent, of Holdings and its Subsidiaries
as of the date thereof, including liabilities for taxes, material commitments and Indebtedness.

 

(b)            Quarterly
Financial Statements. The unaudited Consolidated balance sheets of Holdings and its Subsidiaries dated September 30, 2020, and
the related Consolidated statements of income or operations, Shareholders’ Equity and cash flows for the fiscal quarter ended on
that date (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise
expressly noted therein, and (ii) fairly present the financial condition of Holdings and its Subsidiaries as of the date thereof
and their results of operations, cash flows and changes in Shareholders’ Equity for the period covered thereby, subject, in the
case of clauses (i) and (ii), to the absence of footnotes and to normal year-end audit adjustments.

 

(c)            Material
Adverse Effect. Since the date of the balance sheet included in the Audited Financial Statements, there has been no event or circumstance,
either individually or in the aggregate, that has had or would reasonably be expected to have a Material Adverse Effect.

 

5.06        Litigation.
There are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of the Loan Parties after due and diligent
investigation, threatened or contemplated, at law, in equity, in arbitration or before any Governmental Authority, by or against any
Loan Party or any Subsidiary or against any of their properties or revenues that (a) purport to affect or pertain to this Agreement
or any other Loan Document or any of the transactions contemplated hereby, or (b) either individually or in the aggregate would
reasonably be expected to have a Material Adverse Effect.

 

5.07        No
Default. Neither any Loan Party nor any Subsidiary thereof is in default under or with respect to, or a party to, any
Contractual Obligation that could, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.
No Default has occurred and is continuing or would result from the consummation of the transactions contemplated by this Agreement or
any other Loan Document.

 

    96 

     

    

  

5.08        Ownership
of Property. Each Loan Party and each of its Subsidiaries has good record and marketable title in fee simple to, or valid
leasehold interests in, all real property necessary or used in the ordinary conduct of its business, except for such defects in title
as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

 

5.09       Environmental
Matters.

 

(a)            Except
as could not, individually or in the aggregate, reasonably be expected to result in any Material Adverse Effect on any of the Loan Parties
or any of their respective subsidiaries:

 

(i)            (A) None
of the properties currently or formerly owned, leased or operated by any Loan Party or any of its Subsidiaries is listed or formally
proposed for listing on the NPL or on the CERCLIS or any analogous foreign, state or local list or is adjacent to any such property;
(B) there are no, and to the actual knowledge of the Loan Parties and their Subsidiaries never have been any underground or above-ground
storage tanks or any surface impoundments, septic tanks, pits, sumps or lagoons in which Hazardous Materials are being or have been treated,
stored or disposed on any property currently owned, leased or operated by any Loan Party or any of its Subsidiaries or, to the actual
knowledge of the Loan Parties, on any property formerly owned, leased or operated by any Loan Party or any of its Subsidiaries; (C) there
is no and never has been any asbestos or asbestos-containing material on, at or in any property currently owned, leased or operated by
any Loan Party or any of its Subsidiaries; (D) Hazardous Materials have not been released on, at, under or from any property currently
or formerly owned, leased or operated by any Loan Party or any of its Subsidiaries or any property by or on behalf, or otherwise arising
from the operations, of any Loan Party or any of its Subsidiaries; and (E) no Loan Party or any of its Subsidiaries has become subject
to any Environmental Liability or knows of any facts or circumstances that would reasonably be expected to give rise to any Environmental
Liability;

 

(ii)            (A) Neither
any Loan Party nor any of its Subsidiaries is undertaking, and has not completed, either individually or together with other potentially
responsible parties, any investigation or assessment or remedial or response action relating to any actual or threatened Release of Hazardous
Materials at, on, under, or from any site, location or operation, either voluntarily or pursuant to the order of any Governmental Authority
or the requirements of any Environmental Law; and (B) all Hazardous Materials generated, used, treated, handled or stored at, or
transported to or from, any property currently or formerly owned, leased or operated by any Loan Party or any of its Subsidiaries
have been disposed of in a manner which could not reasonably expected to result in liability to any Loan Party or any of its Subsidiaries;

 

    97 

     

    

 

 

(iii)            The
Loan Parties and their respective Subsidiaries: (A) are, and within the period of all applicable statutes of limitation have been,
in compliance with all applicable Environmental Laws; (B) hold all Environmental Permits (each of which is in full force and effect)
required for any of their current or intended operations or for any property owned, leased, or otherwise operated by any of them; (C) are,
and within the period of all applicable statutes of limitation have been, in compliance with all of their Environmental Permits; (D) to
the extent within the control of the Loan Parties and their respective Subsidiaries, will timely renew and comply with each of their
Environmental Permits and any additional Environmental Permits that may be required of any of them without material expense, and timely
comply with any current, future or potential Environmental Law without material expense; and (E) are not aware of any requirements
proposed for adoption or implementation under any Environmental Law.

 

5.10        Insurance.
The properties of the Loan Parties and their Subsidiaries are insured with financially sound and reputable insurance companies not
Affiliates of the Borrower, in such amounts, with such deductibles and covering such risks as are customarily carried by companies
engaged in similar businesses and owning similar properties in localities where the applicable Loan Party or the applicable
Subsidiary operates. The general liability, casualty, property, terrorism and business interruption insurance coverage of the Loan
Parties as in effect on the Closing Date, and as of the last date such Schedule was required to be updated in accordance with Sections
6.02, 6.13 and 6.14, is outlined as to carrier, policy number, expiration date, type, amount and deductibles on Schedule
5.10 and such insurance coverage complies with the requirements set forth in this Agreement and the other Loan Documents.

 

5.11         Taxes.
Each Loan Party and its Subsidiaries have filed all federal, state and other material tax returns and reports required to be filed,
and have paid all federal, state and other material taxes, assessments, fees and other governmental charges levied or imposed upon
them or their properties, income or assets otherwise due and payable, except those which are being contested in good faith by
appropriate proceedings diligently conducted and for which adequate reserves have been provided in accordance with GAAP. There is no
proposed tax assessment against any Loan Party or any Subsidiary that would, if made, have a Material Adverse Effect, nor is there
any tax sharing agreement applicable to Holdings or any Subsidiary. The filing and recording of any and all documents required to
perfect the security interests granted to the Administrative Agent (for the ratable benefit of the Secured Parties) will not result
in any documentary, stamp or other taxes.

 

5.12        ERISA
Compliance.

 

(a)            No
failure of any Plan to comply with the applicable provisions of ERISA, the Code or other applicable federal or state laws has resulted
or would reasonably be expected to result in a Material Adverse Effect. Each Pension Plan that is intended to be a qualified plan under
Section 401(a) of the Code has received a favorable determination letter or is subject to a favorable opinion letter from the
IRS to the effect that the form of such Plan is qualified under Section 401(a) of the Code and the trust related thereto has
been determined by the IRS to be exempt from federal income tax under Section 501(a) of the Code, or an application for such
a letter is currently being processed by the IRS. To the actual knowledge of the Loan Parties, nothing has occurred that would prevent
or cause the loss of such tax-qualified status.

 

    98

     

    

 

(b)            There
are no pending or, to the actual knowledge of the Loan Parties, threatened claims, actions or lawsuits, or action by any Governmental
Authority, with respect to any Plan that would reasonably be expected to have a Material Adverse Effect. There has been no prohibited
transaction or violation of the fiduciary responsibility rules with respect to any Plan that has resulted or would reasonably be
expected to result in a Material Adverse Effect.

 

(c)            (i) No
ERISA Event has occurred, and no Loan Party nor any ERISA Affiliate is aware of any fact, event or circumstance that would reasonably
be expected to constitute or result in an ERISA Event with respect to any Pension Plan or Multiemployer Plan; (ii) as of the most
recent valuation date for any Pension Plan, the funding target attainment percentage (as defined in Section 430(d)(2) of the
Code) is 60% or higher and no Loan Party nor any ERISA Affiliate knows of any facts or circumstances that would reasonably be expected
to cause the funding target attainment percentage for any such plan to drop below 60% as of the most recent valuation date; (iii) no
Loan Party nor any ERISA Affiliate has incurred any liability to the PBGC other than for the payment of premiums, and there are no premium
payments which have become due that are unpaid; (iv) neither the Borrower nor any ERISA Affiliate has engaged in a transaction that
could be subject to Section 4069 or Section 4212(c) of ERISA; and (v) no Pension Plan has been terminated by the
plan administrator thereof nor by the PBGC, and no event or circumstance has occurred or exists that would reasonably be expected to
cause the PBGC to institute proceedings under Title IV of ERISA to terminate any Pension Plan.

 

(d)            Neither
the Borrower nor any ERISA Affiliate maintains or contributes to, or has any unsatisfied obligation to contribute to, or liability under,
any active or terminated Pension Plan other than (i) on the Closing Date, those listed on Schedule 5.12 hereto and (ii) thereafter,
Pension Plans not otherwise prohibited by this Agreement.

 

(e)            The
Borrower represents and warrants as of the Closing Date that the Borrower is not and will not be using “plan assets”
(within the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit Plans with respect to the Borrower’s entrance
into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments or this
Agreement.

 

5.13         Margin
Regulations; Investment Company Act.

 

(a)            Margin
Regulations. Neither Holdings nor any of its Subsidiaries is engaged or will engage, principally or as one of its important activities,
in the business of purchasing or carrying margin stock (within the meaning of Regulation U), or extending credit for the purpose of purchasing
or carrying margin stock. Following the application of the proceeds of each Borrowing or drawing under each Letter of Credit, not more
than twenty-five percent (25%) of the value of the assets (either of Holdings only or of Holdings and its Subsidiaries on a Consolidated
basis) subject to the provisions of Section 7.01 or Section 7.05 or subject to any restriction contained in any
agreement or instrument between the Borrower or any of its Subsidiaries and any Lender or any Affiliate of any Lender relating to Indebtedness
and within the scope of Section 8.01(e) will be margin stock.

 

    99

     

    

 

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

 

5.14        Disclosure.
The Borrower has disclosed to the Administrative Agent and the Lenders all agreements, instruments and corporate or other
restrictions to which it or any of its Subsidiaries or any other Loan Party is subject, and all other matters known to it, that,
individually or in the aggregate, would reasonably be expected to result in a Material Adverse Effect. No report, financial
statement, certificate or other information furnished (whether in writing or orally) by or on behalf of any Loan Party to the
Administrative Agent or any Lender in connection with the transactions contemplated hereby and the negotiation of this Agreement or
delivered hereunder or under any other Loan Document (in each case as modified or supplemented by other information so furnished)
contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the
light of the circumstances under which they were made, not misleading; provided that, with respect to projected financial
information, each Loan Party represents only that such information was prepared in good faith based upon assumptions believed to be
reasonable at the time.

 

5.15         Compliance
with Laws. Each Loan Party and each Subsidiary thereof is in compliance with the requirements of all Applicable Laws
and all orders, writs, injunctions and decrees applicable to it or to its properties, except in such instances in which
(a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings
diligently conducted or (b) the failure to comply therewith, either individually or in the aggregate, could not reasonably be
expected to have a Material Adverse Effect.

 

5.16         Solvency.
Each Loan Party is, individually and together with its Subsidiaries on a Consolidated basis, Solvent.

 

5.17         Casualty,
Etc. Neither the businesses nor the properties of any Loan Party or any of its Subsidiaries are affected by any fire,
explosion, accident, strike, lockout or other labor dispute, drought, storm, hail, earthquake, embargo, act of God or of the public
enemy or other casualty (whether or not covered by insurance) that, either individually or in the aggregate, would reasonably be
expected to have a Material Adverse Effect.

 

5.18        Sanctions
Concerns and Anti-Corruption Laws.

 

(a)            Sanctions
Concerns. No Loan Party, nor any Subsidiary, nor, to the knowledge of the Loan Parties and their Subsidiaries, any director, officer,
employee, agent, Affiliate or representative thereof, is an individual or entity that is, or is owned or controlled by one or more individuals
or entities that are (i) currently the subject or target of any Sanctions, (ii) included on OFAC’s List of Specially
Designated Nationals or HMT’s Consolidated List of Financial Sanctions Targets, or any similar list enforced by any other relevant
sanctions authority or (iii) located, organized or resident in a Designated Jurisdiction. The Loan Parties and their Subsidiaries
have conducted their businesses in compliance with all applicable Sanctions and have instituted and maintained policies and procedures
designed to promote and achieve compliance with such Sanctions.

 

    100

     

    

 

(b)            Anti-Corruption
Laws. The Loan Parties and their Subsidiaries have conducted their business in compliance in all material respects with the United
States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010 and other applicable anti-corruption legislation in other jurisdictions,
and have instituted and maintained policies and procedures designed to promote and achieve compliance with such laws.

 

5.19         Responsible
Officers. Set forth on Schedule 1.01(c) are Responsible Officers, holding the offices indicated next
to their respective names, as of the Closing Date and as of the last date such Schedule 1.01(c) was required to be updated in
accordance with Sections 6.02, 6.13 and 6.14 and such Responsible Officers are the duly elected and
qualified officers of such Loan Party and are duly authorized to execute and deliver, on behalf of the respective Loan Party, this
Agreement, the Notes and the other Loan Documents.

 

5.20         Subsidiaries;
Equity Interests; Loan Parties.

 

(a)            Subsidiaries,
Joint Ventures, Partnerships and Equity Investments. Set forth on Schedule 5.20(a), is the following information which is
true and complete in all respects as of the Closing Date and as of the last date such Schedule was required to be updated in
accordance with Sections 6.02, 6.13 and 6.14: (i) a complete and accurate list of all Subsidiaries,
joint ventures and partnerships and other equity investments of the Loan Parties as of the Closing Date and as of the last date such
Schedule was required to be updated in accordance with Sections 6.02, 6.13 and 6.14, (ii) if
applicable, the number of shares of each class of Equity Interests in the Borrower and each Subsidiary outstanding, (iii) if
applicable, the number and percentage of outstanding shares of each class of Equity Interests owned by the Loan Parties and their
Subsidiaries and (iv) the class or nature of such Equity Interests (i.e., voting, non-voting,
preferred, etc.). The outstanding Equity Interests in the Borrower and all other Subsidiaries are validly issued, fully paid
and non-assessable and are owned free and clear of all Liens other than Liens created under the Collateral Documents. There are no
outstanding subscriptions, options, warrants, calls, rights or other agreements or commitments (other than stock options granted to
employees or directors and directors’ qualifying shares) of any nature relating to the Equity Interests of any Loan Party or
any Subsidiary thereof, except as contemplated in connection with the Loan Documents.

 

(b)            Loan
Parties. Set forth on Schedule 5.20(b) is a complete and accurate list of all Loan Parties, showing as of the Closing
Date, or as of the last date such Schedule was required to be updated in accordance with Sections 6.02, 6.13 and 6.14,
(as to each Loan Party) (i) the exact legal name, (ii) any former legal names of such Loan Party in the four (4) months
prior to the Closing Date, (iii) the jurisdiction of its incorporation or organization, as applicable, (iv) the type of organization,
(v) the jurisdictions in which such Loan Party is qualified to do business, (vi) the address of its chief executive office,
(vii) the address of its principal place of business, (viii) its U.S. federal taxpayer identification number or, in the case
of any non-U.S. Loan Party that does not have a U.S. taxpayer identification number, its unique identification number issued to it by
the jurisdiction of its incorporation or organization, (ix) the organization identification number, (x) ownership information
(e.g., publicly held or if private or partnership, the owners and partners of each of the Loan Parties) and (xi) the
industry or nature of business of such Loan Party.

 

    101

     

    

 

5.21         Collateral
Representations.

 

(a)            Collateral
Documents. The provisions of the Collateral Documents are effective to create in favor of the Administrative Agent for the
benefit of the Secured Parties a legal, valid and enforceable first priority Lien (subject to Permitted Liens) on all right, title
and interest of the respective Loan Parties in the Collateral described therein. Except for filings completed prior to the Closing
Date and as contemplated hereby and by the Collateral Documents, no filing or other action will be necessary to perfect or protect
such Liens. In the case of any Mortgage executed and delivered after the date thereof in accordance with the provisions of Sections
6.14 and 6.17, when such Mortgage is filed in the offices specified in the local counsel opinion delivered with respect
thereto in accordance with the provisions of Sections 6.14 and 6.17), the Mortgages shall constitute fully perfected
Liens on, and security interests in, all right, title and interest of the Loan Parties in the Mortgaged Properties and the
proceeds thereof, in each case prior and superior in right to any other Person, other than Liens permitted by Section 7.01.

 

(b)            Intellectual
Property. Set forth on Schedule 5.21(b), as of the Closing Date and as of the last date such Schedule was required to
be updated in accordance with Sections 6.02, 6.13 and 6.14, is a list of all registered or issued Intellectual
Property (including all applications for registration and issuance) owned by each of the Loan Parties or that each of the Loan Parties
has the right to (including the name/title, current owner, registration or application number, and registration or application date and
such other information as reasonably requested by the Administrative Agent).

 

(c)            Documents, Instrument,
and Tangible Chattel Paper. Set forth on Schedule 5.21(c), as of the Closing Date and as of the last date such Schedule
5.21(c) was required to be updated in accordance with Sections 6.02, 6.13 and 6.14, is a description
of all Documents, Instruments, and Tangible Chattel Paper (each as defined in the UCC) of the Loan Parties (including the Loan Party
owning such Document, Instrument and Tangible Chattel Paper and such other information as reasonably requested by the Administrative
Agent).

 

(d)            Deposit
Accounts, Electronic Chattel Paper, Letter-of-Credit Rights, and Securities Accounts.

 

(i)            Set
forth on Schedule 5.21(d)(i), as of the Closing Date and as of the last date such Schedule 5.21(d)(i) was
required to be updated in accordance with Sections 6.02 and 6.14, is a description of all deposit accounts and securities
accounts of the Loan Parties, including the name of (A) the applicable Loan Party, (B) in the case of a deposit account, the
depository institution and average amount held in such deposit account and whether such account is a zero balance account or a payroll
account, and (C) in the case of a securities account, the securities intermediary or issuer and the average aggregate market value
held in such securities account, as applicable.

 

    102

     

    

 

(ii)            Set
forth on Schedule 5.21(d)(ii), as of the Closing Date and as of the last date such Schedule 5.21(d)(ii) was
required to be updated in accordance with Sections 6.02, 6.13 and 6.14, is a description of all Electronic
Chattel Paper (as defined in the UCC) and Letter-of-Credit Rights (as defined in the UCC) of the Loan Parties, including the name of
(A) the applicable Loan Party, (B) in the case of Electronic Chattel Paper (as defined in the UCC), the account debtor and
(C) in the case of Letter-of-Credit Rights (as defined in the UCC), the issuer or nominated person, as applicable.

 

(e)            Commercial
Tort Claims. Set forth on Schedule 5.21(e), as of the Closing Date and as of the last date such Schedule 5.21(e) was
required to be updated in accordance with Sections 6.02, 6.13 and 6.14, is a description of all Commercial
Tort Claims (as defined in the UCC) of the Loan Parties (detailing such Commercial Tort Claim in such detail as reasonably
requested by the Administrative Agent).

 

(f)            Pledged
Equity Interests. Set forth on Schedule 5.21(f), as of the Closing Date and as of the last date such Schedule 5.21(f) was
required to be updated in accordance with Sections 6.02, 6.13 and 6.14, is a list of (i) all Pledged Equity
and (ii) all other Equity Interests required to be pledged to the Administrative Agent pursuant to the Collateral Documents (in
each case, detailing the Grantor (as defined in the Security Agreement), the Person whose Equity Interests are pledged, the number of
shares of each class of Equity Interests, the certificate number and percentage ownership of outstanding shares of each class of Equity
Interests and the class or nature of such Equity Interests (i.e., voting, non-voting, preferred, etc.)).

 

(g)            Properties.
Set forth on Schedule 5.21(g), as of the Closing Date and as of the last date such Schedule 5.21(g) was
required to be updated in accordance with Sections 6.02, 6.13 and 6.14, is a list of (A) each headquarter
location of the Loan Parties, (B) each other location where any significant administrative or governmental functions are performed,
(C) each other location where the Loan Parties maintain any books or records (electronic or otherwise) and (D) each location
where any personal property Collateral is located at any premises owned or leased by a Loan Party (in each case, including (1) an
indication if such location is leased or owned, (2), if leased, the name of the lessor, and if owned, the name of the Loan Party owning
such property, (3) the address of such property (including, the city, county, state and zip code) and (4) to the extent owned,
the approximate fair market value of such property).

 

(h)            Material
Contracts. Set forth on Schedule 5.21(h), as of the Closing Date and as of the last date such Schedule 5.21(h) was
required to be updated in accordance with Sections 6.02, 6.13 and 6.14, is a complete and accurate list of
all Material Contracts of the Borrower and its Subsidiaries.

 

5.22         EEA
Financial Institutions. No Loan Party is an Affected Financial Institution.

 

    103

     

    

 

5.23            Covered
Entities. No Loan Party is a Covered Entity.

 

5.24            Beneficial
Ownership Certification. The information included in the Beneficial Ownership Certification,
if applicable, is true and correct in all respects.

 

5.25            Intellectual
Property; Licenses, Etc. Each Loan Party and each of its Subsidiaries own, or possess
the right to use, all of the trademarks, service marks, trade names, copyrights, patents, patent rights, trade secrets, know-how,
franchises, licenses and other intellectual property rights (collectively, “IP Rights”) that are used in the
operation of their respective businesses, without conflict with the rights of any other Person. To the actual knowledge of
the Loan Parties, neither the operation of the business, nor any product, service, process, method, substance, part or other
material now used, or now contemplated to be used, by any Loan Party or any of its Subsidiaries infringes, misappropriates or
otherwise violates upon any rights held by any other Person. No claim or litigation regarding any of the foregoing is pending or, to
the actual knowledge of the Loan Parties, threatened, which, either individually or in the aggregate, would reasonably be expected
to have a Material Adverse Effect. To the actual knowledge of the Loan Parties, there has been no unauthorized use, access,
interruption, modification, corruption or malfunction of any information technology assets or systems (or any information or
transactions stored or contained therein or transmitted thereby) owned or used by any Loan Party or any of its Subsidiaries, which,
either individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect.

 

5.26            Labor
Matters. There are no collective bargaining agreements or Multiemployer Plans covering the
employees of the Borrower or any of its Subsidiaries as of the Closing Date and neither Borrower nor any Subsidiary has suffered any
strikes, walkouts, work stoppages or other material labor difficulty within the last five (5) years preceding the Closing Date.

 

Article VI

 

AFFIRMATIVE
COVENANTS

 

Each of the Loan Parties
hereby covenants and agrees that on the Closing Date and thereafter until the Facility Termination Date, such Loan Party shall, and shall
cause each of its Subsidiaries to:

 

6.01            Financial
Statements.

 

Deliver to the Administrative
Agent and each Lender, in form and detail satisfactory to the Administrative Agent and the Required Lenders:

 

(a)            Audited
Financial Statements. As soon as available, but in any event within one hundred and twenty (120) days after the end of each fiscal
year of Holdings (or, if earlier, fifteen (15) days after the date required to be filed with the SEC (without giving effect to any extension
permitted by the SEC)), a Consolidated balance sheet of Holdings and its Subsidiaries as at the end of such fiscal year, and the related
Consolidated statements of income or operations, changes in Shareholders’ Equity and cash flows for such fiscal year, setting forth
in each case in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP,
audited and accompanied by a report and opinion of an independent certified public accountant of recognized standing reasonably acceptable
to the Administrative Agent, which report and opinion shall be prepared in accordance with generally accepted auditing standards and
shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to the
scope of such audit.

 

    104

     

    

 

(b)            Quarterly
Financial Statements. As soon as available, but in any event within forty-five (45) days after the end of each of the first three
(3) fiscal quarters of each fiscal year of Holdings (or, if earlier, five (5) days after the date required to be filed with
the SEC (without giving effect to any extension permitted by the SEC)), a Consolidated balance sheet of Holdings and its Subsidiaries
as at the end of such fiscal quarter, and the related Consolidated statements of income or operations, changes in Shareholders’
Equity and cash flows for such fiscal quarter and for the portion of Holdings’ fiscal year then ended, setting forth in each case
in comparative form the figures for the corresponding fiscal quarter of the previous fiscal year and the corresponding portion of the
previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, certified by the chief executive officer, chief
financial officer, treasurer or controller who is a Responsible Officer of Holdings as fairly presenting the financial condition, results
of operations, Shareholders’ Equity and cash flows of Holdings and its Subsidiaries, subject only to normal year-end audit adjustments
and the absence of footnotes.

 

(c)            Business
Plan and Budget. As soon as available, but in any event within sixty (60) days after the end of each fiscal year of Holdings, (i) an
annual budget of Holdings and its Subsidiaries on a Consolidated basis and (ii) projected Consolidated balance sheets and statements
of income or operations of Holdings and its Subsidiaries on a monthly basis for the immediately following fiscal year, prepared by management
of Holdings, in form reasonably satisfactory to the Administrative Agent and the Required Lenders, of.

 

As to any information contained in materials
furnished pursuant to Section 6.02(e), Holdings shall not be separately required to furnish such information under Section 6.01(a) or
(b) above, but the foregoing shall not be in derogation of the obligation of Holdings to furnish the information and materials
described in Sections 6.01(a) and (b) above at the times specified therein.

 

6.02            Certificates;
Other Information. Deliver to the Administrative Agent and each Lender, in form and detail satisfactory to the Administrative
Agent and the Required Lenders:

 

(a)            Compliance
Certificate. Concurrently with the delivery of the financial statements referred to in Sections 6.01(a) and (b), a
duly completed Compliance Certificate signed by the chief executive officer, chief financial officer, treasurer or controller which is
a Responsible Officer of Holdings. Unless the Administrative Agent or a Lender requests executed originals, delivery of the Compliance
Certificate may be by electronic communication including fax or email and shall be deemed to be an original and authentic counterpart
thereof for all purposes.

 

    105

     

    

 

(b)            Updated
Schedules. Concurrently with the delivery of the Compliance Certificate referred to in Section 6.02(a), the
following updated Schedules to this Agreement (which may be attached to the Compliance Certificate) to the extent required to make
the representation related to such Schedule true and correct as of the date of such Compliance Certificate: Schedules
1.01(c), 5.10, 5.20(a), 5.20(b), 5.21(b), 5.21(c), 5.21(d)(i), 5.21(d)(ii), 5.21(e), 5.21(f), 5.21(g) and 5.21(h).

 

(c)            Changes
in Entity Structure. Within ten (10) days prior to any merger, consolidation, dissolution or other change in entity structure
of any Loan Party or any of its Subsidiaries permitted pursuant to the terms hereof, use commercially reasonable efforts to provide notice
of such change in entity structure to the Administrative Agent, along with such other information as reasonably requested by the Administrative
Agent. Provide notice to the Administrative Agent, not less than ten (10) days prior (or such extended period of time as agreed
to by the Administrative Agent) of any change in any Loan Party’s legal name, state of organization, or organizational existence.

 

(d)            Audit
Reports; Management Letters; Recommendations. Promptly after any request by the Administrative Agent or any Lender, copies of any
detailed audit reports, management letters or recommendations submitted to the board of directors (or the audit committee of the board
of directors) of any Loan Party by independent accountants in connection with the accounts or books of any Loan Party or any of its Subsidiaries,
or any audit of any of them.

 

(e)            Annual
Reports; Etc. Promptly after the same are available, copies of each annual report, proxy or financial statement or other report or
communication sent to the stockholders of Holdings, and copies of all annual, regular, periodic and special reports and registration
statements which Holdings may file or be required to file with the SEC under Section 13 or 15(d) of the Securities Exchange
Act of 1934, or with any national securities exchange, and in any case not otherwise required to be delivered to the Administrative Agent
pursuant hereto.

 

(f)            Debt
Securities Statements and Reports. Promptly after the furnishing thereof, copies of any statement or report furnished to any holder
of debt securities of any Loan Party or of any of its Subsidiaries pursuant to the terms of any indenture, loan or credit or similar
agreement and not otherwise required to be furnished to the Lenders pursuant to Section 6.01 or any other clause of this
Section 6.02.

 

(g)            SEC
Notices. Promptly, and in any event within five (5) Business Days after receipt thereof by any Loan Party or any Subsidiary
thereof, copies of each notice or other correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction)
concerning any investigation or possible investigation or other inquiry by such agency regarding financial or other operational results
of any Loan Party or any Subsidiary thereof.

 

(h)            Notices.
Not later than five (5) Business Days after receipt thereof by any Loan Party or any Subsidiary thereof, copies of all notices,
requests and other documents (including amendments, waivers and other modifications) so received under or pursuant to any
instrument, indenture, loan or credit or similar agreement and, from time to time upon request by the Administrative Agent,
such information and reports regarding such instruments, indentures and loan and credit and similar agreements as the Administrative
Agent may reasonably request.

 

    106

     

    

 

(i)            Environmental
Notice. Promptly after the assertion or occurrence thereof, notice of any action or proceeding against or of any noncompliance by
any Loan Party or any of its Subsidiaries with any Environmental Law or Environmental Permit that would reasonably be expected to
have a Material Adverse Effect.

 

(j)            Anti-Money-Laundering;
Beneficial Ownership Regulation. Promptly following any request therefor, 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, without limitation, the Patriot Act.

 

(k)            Beneficial
Ownership. To the extent any Loan Party qualifies as a “legal entity customer” under the Beneficial Ownership Regulation,
an updated Beneficial Ownership Certification promptly following any change in the information provided in the Beneficial Ownership Certification
delivered to any Lender in relation to such Loan Party that would result in a change to the list of beneficial owners identified in such
certification.

 

(l)            Additional
Information. Promptly, such additional information regarding the business, financial, legal or corporate affairs of any Loan Party
or any Subsidiary thereof, or compliance with the terms of the Loan Documents, as the Administrative Agent or any Lender may from time
to time reasonably request.

 

Documents required
to be delivered pursuant to Section 6.01(a) or (b) or Section 6.02(e) (to the extent any
such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, notwithstanding
anything to the contrary contained herein or in any other Loan Document (including without limitation Section 11.02(b)(ii)(B)) shall
be deemed to have been delivered on the date (i) on which Holdings posts such documents, or provides a link thereto on Holdings’
website on the Internet at the website address listed on Schedule 1.01(a); or (ii) on which such documents are posted
on Holdings’ 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 Borrower shall notify
the Administrative Agent (by fax transmission or e-mail transmission) of the posting of any such documents and, upon the request of the
Administrative Agent, provide to the Administrative Agent by e-mail electronic versions (i.e., soft copies) of such documents.
The Administrative Agent shall have no obligation to request the delivery of or to maintain paper copies of the documents referred to
above, and in any event shall have no responsibility to monitor compliance by the Borrower with any such request by a Lender for delivery,
and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents.

 

    107

     

    

 

The Borrower hereby
acknowledges that (i) the Administrative Agent and/or an Affiliate thereof may, but shall not be obligated to, make available to
the Lenders and the L/C Issuer materials and/or information provided by or on behalf of the Borrower hereunder (collectively, “Borrower
Materials”) by posting the Borrower Materials on IntraLinks, Syndtrak, ClearPar or a substantially similar electronic transmission
system (the “Platform”) and (ii) certain of the Lenders (each, a “Public Lender”)
may have personnel who do not wish to receive material non-public information with respect to the Borrower or its Affiliates, or the
respective securities of any of the foregoing, and who may be engaged in investment and other market-related activities with respect
to such Persons’ securities. The Borrower hereby agrees that it will use commercially reasonable efforts to identify that portion
of the Borrower Materials that may be distributed to the Public Lenders and that (A) all such Borrower Materials shall be clearly
and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently
on the first page thereof; (B) by marking Borrower Materials “PUBLIC,” the Borrower shall be deemed to have authorized
the Administrative Agent, any Affiliate thereof, the Arrangers, the Documentation Agents, the L/C Issuer and the Lenders to treat such
Borrower Materials as not containing any material non-public information (although it may be sensitive and proprietary) with respect
to the Borrower or its securities for purposes of United States federal and state securities laws (provided, however, that
to the extent such Borrower Materials constitute Information, they shall be treated as set forth in Section 11.07); (C) all
Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public
Side Information;” and (D) the Administrative Agent and any Affiliate thereof and the Arrangers and the Documentation Agents,
shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion
of the Platform not designated “Public Side Information.”

 

6.03            Notices.
Promptly, but in any event within five (5) Business Days, notify the Administrative Agent and each Lender:

 

(a)            of
the occurrence of any Default;

 

(b)            of
any matter that has resulted or would reasonably be expected to result in a Material Adverse Effect, including (i) breach or non-performance
of, or any default under, a Contractual Obligation of the Borrower or any Subsidiary; (ii) any action, suit, dispute, litigation,
investigation, proceeding or suspension involving any Loan Party or any Subsidiary or any of their respective properties and any Governmental
Authority; or (iii) the commencement of, or any material development in, any litigation or proceeding affecting the Borrower or
any Subsidiary, including pursuant to any applicable Environmental Laws;

 

(c)            of
the occurrence of any ERISA Event;

 

(d)            of
any material change in accounting policies or financial reporting practices by any Loan Party or any Subsidiary thereof, including any
determination by the Borrower referred to in Section 2.10(b); and

 

(e)            of
any (i) occurrence of any Disposition of property or assets for which the Borrower is required to make a mandatory prepayment pursuant
to Section 2.05(b)(i), (ii) Equity Issuance for which the Borrower is required to make a mandatory prepayment pursuant
to Section 2.05(b)(ii), and (iii) receipt of any Extraordinary Receipt for which the Borrower is required to make a
mandatory prepayment pursuant to Section 2.05(b)(iv).

 

    108

     

    

 

Each notice pursuant to this
Section 6.03 shall be accompanied by a statement of a Responsible Officer of the Borrower setting forth details of the occurrence
referred to therein and to the extent applicable, stating what action the Borrower has taken and proposes to take with respect thereto.
Each notice pursuant to Section 6.03(a) shall describe with particularity any and all provisions of this Agreement and
any other Loan Document that have been breached.

 

6.04         Payment
of Obligations. Pay and discharge as the same shall become due and payable, all its obligations and liabilities, including
(a) all tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, unless the same are
being contested in good faith by appropriate proceedings diligently conducted and adequate reserves in accordance with GAAP are being
maintained by the Borrower or such Subsidiary; (b) all lawful claims which, if unpaid, would by law become a Lien upon its property;
and (c) all Indebtedness, as and when due and payable, but subject to any subordination provisions contained in any instrument or
agreement evidencing such Indebtedness.

 

6.05         Preservation
of Existence, Etc.

 

(a)            Preserve,
renew and maintain in full force and effect its legal existence and good standing under the Laws of the jurisdiction of its organization
except in a transaction permitted by Section 7.04 or 7.05;

 

(b)            take
all reasonable action to maintain all rights, privileges, permits, licenses and franchises necessary or desirable in the normal conduct
of its business, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; and

 

(c)            preserve
or renew all of its registered patents, trademarks, trade names and service marks, the non-preservation of which would reasonably be
expected to have a Material Adverse Effect.

 

6.06         Maintenance
of Properties.

 

(a)            Maintain,
preserve and protect all of its material properties and equipment necessary in the operation of its business in good working order and
condition, ordinary wear and tear excepted; and

 

(b)            make
all necessary repairs thereto and renewals and replacements thereof except where the failure to do so could not reasonably be expected
to have a Material Adverse Effect.

 

6.07         Maintenance
of Insurance.

 

(a)            Maintenance
of Insurance. Maintain with financially sound and reputable insurance companies not Affiliates of the Borrower, insurance with respect
to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar
business, of such types and in such amounts as are customarily carried under similar circumstances by such other Persons and all such
insurance shall (i) provide for not less than thirty (30) days’ prior notice to the Administrative Agent of termination, lapse
or cancellation of such insurance, (ii) name the Administrative Agent as additional insured on behalf of the Secured Parties (in
the case of liability insurance) or loss payee (in the case of property insurance), as applicable, (iii) if reasonably requested
by the Administrative Agent, include a breach of warranty clause and (iv) be reasonably satisfactory in all other respects to the
Administrative Agent; provided that, notwithstanding the foregoing, the Collateral and other property of the Borrower and the
Subsidiaries may be covered by the insurance policies of Holdings, any other Loan Party or any Subsidiary, so long as the loss payable
and additional insured endorsements benefitting the applicable Loan Parties and meeting the requirements set forth in Section 6.07(b) are
provided.

 

    109

     

    

 

(b)            Evidence
of Insurance. Cause the Administrative Agent to be named as lenders’ loss payable or loss payee, as its interest may
appear, and/or additional insured with respect of any such insurance providing liability coverage or coverage in respect of any
Collateral, and cause, unless otherwise agreed to by the Administrative Agent, each provider of any such insurance to agree, by
endorsement upon the policy or policies issued by it or by independent instruments furnished to the Administrative Agent that it
will give the Administrative Agent thirty (30) days prior written notice before any such policy or policies shall be altered or
cancelled (or ten (10) days prior notice in the case of cancellation due to the nonpayment of premiums). Annually, upon
expiration of current insurance coverage, the Loan Parties shall provide, or cause to be provided, to the Administrative Agent, such
evidence of insurance as required by the Administrative Agent, including, but not limited to: (i) copies of such insurance
policies, (ii) evidence of such insurance policies (including, without limitation and as applicable, ACORD Form 28
certificates (or similar form of insurance certificate), and ACORD Form 25 certificates (or similar form of insurance
certificate)), (iii) declaration pages for each insurance policy and (iv) lender’s loss payable endorsement if
the Administrative Agent for the benefit of the Secured Parties is not on the declarations page for such policy. As
requested by the Administrative Agent, the Loan Parties agree to deliver to the Administrative Agent an Authorization to Share
Insurance Information.

 

(c)            Flood
Insurance. If any portion of any Mortgaged Property is at any time located in an area identified by the Federal Emergency Management
Agency (or any successor agency) as a special flood hazard area with respect to which flood insurance has been made available under the
National Flood Insurance Act of 1968 (as now or hereafter in effect or successor act thereto), then the Borrower shall, or shall cause
each Loan Party to (i) maintain, or cause to be maintained, with a financially sound and reputable insurer, flood insurance in an
amount and otherwise sufficient to comply with all applicable rules and regulations promulgated pursuant to the Flood Insurance
Laws and (ii) deliver to the Administrative Agent evidence of such compliance in form and substance reasonably acceptable to the
Lenders, and the Borrower shall deliver to the Administrative Agent annual renewals of such flood insurance. In connection with any amendment
to this Agreement pursuant to which any increase, extension, or renewal of Loans is contemplated, the Borrower shall cause to be delivered
to the Administrative Agent for any Mortgaged Property, a completed “life of the loan” Federal Emergency Management Agency
Standard Flood Hazard Determination, duly executed and acknowledged by the appropriate Loan Parties, and evidence of flood insurance,
as applicable.

 

    110

     

    

 

 

6.08            Compliance
with Laws. Comply with the requirements of all Applicable Laws and all orders, writs, injunctions and decrees applicable
to it or to its business or property, except in such instances in which (a) such requirement of Law or order, writ, injunction or
decree is being contested in good faith by appropriate proceedings diligently conducted; or (b) the failure to comply therewith
could not reasonably be expected to have a Material Adverse Effect.

 

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

 

6.10            Inspection
Rights.

 

(a)            Permit
representatives and independent contractors of the Administrative Agent and each Lender to visit and inspect any of its properties,
to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom, and to discuss its
affairs, finances and accounts with its directors, officers, and independent public accountants, all at the expense of the Borrower
and at such reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable advance notice
to the Borrower (in any case not less than two (2) Business Days); provided that, unless an Event of Default has
occurred and is continuing at the time such visit, inspection or examination commences, the Loan Parties shall not be required to
pay expenses relating to more than one such visit, inspection or examination in any twelve (12) consecutive month period; provided, however,
that when an Event of Default exists the Administrative Agent or any Lender (or any of their respective representatives or
independent contractors) may do any of the foregoing at the expense of the Borrower at any time during normal business hours and
without advance notice.

 

(b)            If
requested by the Administrative Agent in its sole discretion, permit the Administrative Agent, and its representatives, upon reasonable
advance notice to the Borrower, to conduct an annual audit of the Collateral at the expense of the Borrower.

 

6.11            Use
of Proceeds. Use the proceeds of the Credit Extensions for working capital and general corporate purposes not in contravention
of any Law or of any Loan Document including, without limitation, for Permitted Acquisitions and capital expenditures.

 

6.12            Material
Contracts. Perform and observe all the terms and provisions of each Material Contract to be performed or observed by it,
maintain each such Material Contract in full force and effect, enforce each such Material Contract in accordance with its terms, take
all such action to such end as may be from time to time requested by the Administrative Agent and, upon request of the Administrative
Agent, make to each other party to each such Material Contract such demands and requests for information and reports or for action as
any Loan Party or any of its Subsidiaries is entitled to make under such Material Contract, and cause each of its Subsidiaries to do
so.

 

    111

     

    

 

6.13            Covenant
to Guarantee Obligations. The Loan Parties will cause each of their Subsidiaries (other than any CFC, FSHCO or Subsidiary
that is held directly or indirectly by a CFC) whether newly formed, after acquired or otherwise existing to promptly (and in any event
within thirty (30) days after such Subsidiary is formed or acquired (or such longer period of time as agreed to by the Administrative
Agent in its reasonable discretion)) become a Guarantor hereunder by way of execution of a Joinder Agreement; provided, however,
no Foreign Subsidiary shall be required to become a Guarantor to the extent such Guaranty would result in a material adverse tax consequence
for the Borrower. In connection therewith, the Loan Parties shall give notice to the Administrative Agent not less than ten (10) days
prior to creating a Subsidiary (or such shorter period of time as agreed to by the Administrative Agent in its reasonable discretion),
or acquiring the Equity Interests of any other Person. In connection with the foregoing, the Loan Parties shall deliver to the Administrative
Agent, with respect to each new Guarantor to the extent applicable, substantially the same documentation required pursuant to Sections 4.01(b),
(c), (e) and (f) and 6.14 and such other documents or agreements as the Administrative Agent
may reasonably request, including without limitation, updated Schedules 1.01(c), 5.10, 5.12, 5.20(a), 5.20(b),
5.21(b), 5.21(c), 5.21(d)(i), 5.21(d)(ii), 5.21(e), 5.21(f), 5.21(g) and 5.21(h).

 

6.14            Covenant
to Give Security. Except with respect to Excluded Property:

 

(a)            Equity
Interests and Personal Property. Each Loan Party will cause the Pledged Equity and all of its tangible and intangible personal property
now owned or hereafter acquired by it to be subject at all times to a first priority, perfected Lien (subject to Permitted Liens to the
extent permitted by the Loan Documents) in favor of the Administrative Agent for the benefit of the Secured Parties to secure the Secured
Obligations pursuant to the terms and conditions of the Collateral Documents. Each Loan Party shall provide opinions of counsel and any
filings and deliveries reasonably necessary in connection therewith to perfect the security interests therein, all in form and substance
reasonably satisfactory to the Administrative Agent.

 

(b)            [reserved].

 

(c)            Account
Control Agreements. Each of the Loan Parties shall not open, or 180 days after the Closing Date (or such later date as the Administrative
Agent may agree in its sole discretion) maintain or otherwise have any deposit or other accounts (including securities accounts) at any
bank or other financial institution, or any other account where money or securities are or may be deposited or maintained with any Person,
other than (i) deposit accounts that are maintained at all times with depositary institutions as to which the Administrative Agent
shall have received a Qualifying Control Agreement, (ii) securities accounts that are maintained at all times with financial institutions
as to which the Administrative Agent shall have received a Qualifying Control Agreement, (iii) deposit accounts established solely
as payroll and other zero balance accounts and such accounts are held at Bank of America and (iv) other deposit accounts, so long
as at any time the balance in any such account does not exceed $500,000 and the aggregate balance in all such accounts does not exceed
$2,000,000.

 

    112

     

    

 

(d)            Material
Real Property. At the Borrower’s expense, take all action either necessary or as reasonably requested by the
Administrative Agent to ensure that the Collateral and Guarantee Requirement continues to be satisfied, including (i) not later
than ninety (90) days after the acquisition by any Loan Party of any Material Real Property as determined by the Borrower (acting
reasonably and in good faith) (or such longer period as the Administrative Agent may agree in writing in its discretion) that is
required to be provided as Collateral pursuant to the Collateral and Guarantee Requirement, which property would not be
automatically subject to another Lien pursuant to pre-existing Collateral Documents, cause such property to be subject to a Lien and
Mortgage in favor of the Administrative Agent for the benefit of the Secured Parties and take, or cause the relevant Loan Party to
take, such actions as shall be necessary or reasonably requested by the Administrative Agent to grant and perfect or record such
Lien, in each case to the extent required by, and subject to the limitations and exceptions of, the Collateral and Guarantee
Requirement and to otherwise comply with the requirements of the Collateral and Guarantee Requirement; and (ii) as
promptly as practicable after the request therefor by the Administrative Agent, deliver to the Administrative Agent with respect to
each such acquired Material Real Property, any existing title reports, abstracts, surveys, appraisals or environmental assessment
reports, to the extent available and in the possession or control of the Loan Parties or their respective Subsidiaries; provided,
however, that there shall be no obligation to deliver to the Administrative Agent any existing environmental assessment report
or appraisal whose disclosure to the Administrative Agent would require the consent of a Person other than the Loan Parties or one
of their respective Subsidiaries, where, despite the commercially reasonable efforts of the Loan Parties or their respective
Subsidiaries to obtain such consent, such consent cannot be obtained; provided, further, that no mortgage over such
Material Real Property may be executed unless the Administrative Agent has received a Federal Emergency Management Agency Standard
Flood Hazard Determination and all other information needed to satisfy its flood insurance requirements, in each case, with respect
to such Material Real Property.

 

(e)            Updated
Schedules. Concurrently with the delivery of any Collateral pursuant to the terms of this Section 6.14, the Borrower
shall provide the Administrative Agent with the applicable updated Schedule(s): 5.20(a), 5.20(b), 5.21(b), 5.21(c),
5.21(d)(i), 5.21(d)(ii), 5.21(e), 5.21(f), 5.21(g) and 5.21(h).

 

6.15            Anti-Corruption
Laws; Sanctions. Conduct its business in compliance in all material respects with the United States Foreign Corrupt Practices
Act of 1977, the UK Bribery Act 2010 and other applicable anti-corruption legislation in other jurisdictions and with all applicable
Sanctions, and maintain policies and procedures designed to promote and achieve compliance with such laws and Sanctions.

 

6.16            [Reserved]

 

    113

     

    

 

6.17            Further
Assurances. Promptly upon request by the Administrative Agent, or any Lender through
the Administrative Agent, (a) correct any material defect or error that may be discovered in any Loan Document or in the
execution, acknowledgment, filing or recordation thereof, and (b) do, execute, acknowledge, deliver, record, re-record, file,
re-file, register and re-register any and all such further acts, deeds, certificates, assurances, documents and other instruments as
the Administrative Agent, or any Lender through the Administrative Agent, may reasonably require from time to time in order to
(i) carry out more effectively the purposes of the Loan Documents, (ii) to the fullest extent permitted by Applicable Law,
subject any Loan Party’s or any of its Subsidiaries’ properties, assets, rights or interests to the Liens now or
hereafter intended to be covered by any of the Collateral Documents, (iii) perfect and maintain the validity, effectiveness and
priority of any of the Collateral Documents and any of the Liens intended to be created thereunder, (iv) maintain in favor of
the Administrative Agent, for the benefit of the Secured Parties, insurance rights on the Collateral in accordance with the
requirements of, or the obligations of the Loan Parties under, the Loan Documents and all Applicable Laws and (v) assure,
convey, grant, assign, transfer, preserve, protect and confirm more effectively unto the Secured Parties the rights granted
or now or hereafter intended to be granted to the Secured Parties under any Loan Document or under any other instrument executed in
connection with any Loan Document to which any Loan Party or any of its Subsidiaries is or is to be a party, and cause each of its
Subsidiaries to do so. If the Administrative Agent reasonably determines that it is required by Applicable Law to have appraisals
prepared in respect of the Real Property of any Loan Party subject to a Mortgage constituting Collateral, the Borrower shall consent
to the Administrative Agent obtaining appraisals that satisfy the applicable requirements of FIRREA.

 

6.18            Post-Closing
Matters. Without limiting the generality of Section 6.14 of this Agreement, the Borrower
hereby agrees and covenants to deliver to the Administrative Agent the items described on Schedule 6.18 on or before the applicable dates
set forth on Schedule 6.18.

 

Article VII

 

NEGATIVE
COVENANTS

 

Each of the Loan Parties
hereby covenants and agrees that on the Closing Date and thereafter until the Facility Termination Date, no Loan Party shall, nor shall
it permit any Subsidiary to, directly or indirectly:

 

7.01            Liens.

 

Create, incur, assume or
suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, except for the following
(the “Permitted Liens”):

 

(a)            Liens
pursuant to any Loan Document;

 

(b)            Liens
existing on the Closing Date and listed on Schedule 7.01 and any renewals or extensions thereof, provided that (i) the
property covered thereby is not changed, (ii) the amount secured or benefited thereby is not increased except as contemplated by
Section 7.02(j), (iii) the direct or any contingent obligor with respect thereto is not changed, and (iv) any renewal
or extension of the obligations secured or benefited thereby is permitted by Section 7.02(j);

 

    114

     

    

 

(c)            Liens
for Taxes not yet due or which are being contested in good faith and by appropriate proceedings diligently conducted, if adequate reserves
with respect thereto are maintained on the books of the applicable Person in accordance with GAAP;

 

(d)            Statutory
Liens such as carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like Liens
arising in the ordinary course of business which are not overdue for a period of more than thirty (30) days or which are being contested
in good faith and by appropriate proceedings diligently conducted; provided that adequate reserves with respect thereto are
maintained on the books of the applicable Person;

 

(e)            pledges
or deposits in the ordinary course of business in connection with workers’ compensation, unemployment insurance and other social
security legislation, other than any Lien imposed by ERISA;

 

(f)            deposits
to secure the performance of bids, trade contracts and leases (other than Indebtedness), statutory obligations, surety and appeal bonds,
performance bonds and other obligations of a like nature incurred in the ordinary course of business;

 

(g)            easements,
rights-of-way, restrictions and other similar encumbrances affecting real property which, in the aggregate, are not substantial in amount,
and which do not in any case materially detract from the value of the property subject thereto or materially interfere with the ordinary
conduct of the business of the applicable Person;

 

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

 

(i)            Liens
securing Indebtedness permitted under Section 7.02(c); provided that (i) such Liens do not at any time encumber
any property other than the property financed by such Indebtedness and (ii) the Indebtedness secured thereby does not exceed the
cost of the property being acquired on the date of acquisition;

 

(j)            non-exclusive
licenses of trademarks, service marks, trade names, copyrights, patents, patent rights, trade secrets, know-how, franchises, licenses
and other intellectual property rights granted to third parties in the ordinary course of business and substantially consistent with
past practice;

 

(k)            bankers’
Liens, rights of setoff and other similar Liens existing solely with respect to cash and Cash Equivalents on deposit in one or more accounts
maintained by the Borrower or any of its Subsidiaries with any Lender, in each case in the ordinary course of business in favor of the
bank or banks with which such accounts are maintained, securing solely the customary amounts owing to such bank with respect to cash
management and operating account arrangements; provided that in no case shall any such Liens secure (either directly or indirectly)
the repayment of any Indebtedness for borrowed money;

 

    115

     

    

 

(l)            Liens
existing on property of a Person existing as of the date such Person is acquired or merged with or into or consolidated with any Loan
Party or Subsidiary or becomes a Subsidiary, in each case after the Closing Date; provided that (1) any Indebtedness secured
thereby is permitted by Section 7.02(m), (2) such Liens cover solely the property of the Person that became a Subsidiary
and are not expanded to cover additional property (other than proceeds and products thereof and accessions thereto) and (3) such
Liens are no more favorable to the liensholders than existing Liens in favor of the Administrative Agent; and

 

(m)            other
Liens as to which the aggregate amount of obligations secured thereby do not exceed $20,000,000.

 

7.02            Indebtedness.

 

Create, incur, assume or
suffer to exist any Indebtedness, except:

 

(a)            Indebtedness
under the Loan Documents;

 

(b)            Indebtedness
outstanding on the Closing Date and listed on Schedule 7.02;

 

(c)            Indebtedness
in respect of Capitalized Leases, Synthetic Lease Obligations and purchase money obligations for fixed or capital assets within the limitations
set forth in Section 7.01(i); provided, however, that the aggregate amount of all such Indebtedness at any
one time outstanding shall not exceed $10,000,000;

 

(d)            Guarantees
of the Borrower or any Subsidiary Guarantor in respect of Indebtedness otherwise permitted hereunder of the Borrower or any other Subsidiary
Guarantor;

 

(e)            (i) unsecured
intercompany Indebtedness among the Borrower and the Subsidiary Guarantors, (ii) unsecured intercompany Indebtedness among the non-Loan
Party Subsidiaries and (iii) unsecured intercompany Indebtedness of a non-Loan Party Subsidiary owing to the Borrower or a Guarantor,
so long as no Event of Default exists immediately prior to and no Default would exist immediately after giving effect to such intercompany
Indebtedness; provided that, in each case of Indebtedness incurred pursuant to clause (e)(i) or (e)(iii), such
Indebtedness shall (1) to the extent required by the Administrative Agent, be evidenced by promissory notes which shall be pledged
to the Administrative Agent as Collateral for the Secured Obligations in accordance with the terms of the Security Agreement, (2) be
on terms (including subordination terms) acceptable to the Administrative Agent and (3) be otherwise permitted under the provisions
of Section 7.03 (other than solely in reliance on clause (e) or (j) thereof) (such debt described in this clause (e),
“Intercompany Debt”);

 

(f)            unsecured
Indebtedness of the Borrower or any Subsidiary in respect of performance bonds, bid bonds, appeal bonds, surety bonds and similar obligations,
in each case provided in the ordinary course of business;

 

    116

     

    

 

(g)            Indebtedness
relating to premium financing arrangements for property and casualty insurance plans and health and welfare benefit plans (including
health and workers compensation insurance, employment practices liability insurance and directors and officers insurance), in each
case incurred in the ordinary course of business; provided that the amount of such Indebtedness is not in excess of the amount of
the unpaid cost of, and shall be incurred only to defer the cost of, such insurance for the year in which such Indebtedness
is incurred and such Indebtedness is outstanding only during such year;

 

(h)            [reserved];

 

(i)            Indebtedness
which represents an extension, refinancing, or renewal of any of the Indebtedness described in clauses (b), (c) and
(m) hereof; provided that (i) the principal and the interest rate is not increased at the time of such refinancing,
renewal or extension, except that the principal thereof may be increased by an amount equal to unpaid accrued interest and a reasonable
premium thereon plus other fees and expenses reasonably incurred, in connection with such refinancing, renewal or extension,(ii) any
Liens securing such Indebtedness are not extended to any additional property of any Loan Party and such Indebtedness shall be secured
on the same or junior basis to the Indebtedness that it refinances, (iii) the direct or any contingent obligor with respect thereto
is not changed, as a result of or in connection with such refinancing, renewal or extension, (iv) such refinancing, renewal or extension
does not result in a shortening of the maturity of the Indebtedness so extended, refinanced or renewed and (v) the terms of any
such extension, refinancing, or renewal are not less favorable to the obligor thereunder than the original terms of such Indebtedness;

 

(j)            Indebtedness
arising from the endorsement of instruments for collection in the ordinary course of business;

 

(k)            to
the extent constituting Indebtedness, indemnification obligations incurred in connection with the Disposition of any business or assets
permitted hereunder; and

 

(l)            Indebtedness
incurred by the Borrower or any of its Subsidiaries in a Permitted Acquisition solely to the extent constituting indemnity obligations
or obligations in respect of purchase price (including unsecured earnout obligations);

 

(m)            Indebtedness
of a Person (other than a Loan Party or Subsidiary) outstanding or available to be borrowed or advanced (including, without limitation,
under any factoring agreement not prohibited hereunder) as of the date such Person is acquired and becomes a Subsidiary or is merged
with or into or consolidated with a Loan Party or Subsidiary, in each case to the extent permitted hereunder (including, for the avoidance
of doubt, any such Indebtedness in connection with the Fyber Acquisition), provided that (i) such Indebtedness was
not incurred by such Person in connection with, or in contemplation of, such merger or acquisition, (ii) with respect to any such
Person who becomes a Subsidiary, (A) no Loan Party or other Subsidiary is an obligor in respect of such Indebtedness, and (B) to
the extent such Indebtedness is permitted to be secured hereunder, only the assets of such Subsidiary secure such Indebtedness and (iii) the
aggregate principal amount of all such Indebtedness at any time outstanding does not exceed $50,000,000;

 

    117

     

    

 

(n)            obligations
(contingent or otherwise) of any Loan Party or Subsidiary existing or arising under any Swap Contract, provided that (i) such
obligations are (or were) entered into by such Person in the ordinary course of business for the purpose of directly mitigating risks
associated with fluctuations in interest rates or foreign exchange rates and not for speculative purposes and (ii) such Swap Contract
does not contain any provision exonerating the non-defaulting party from its obligation to make payments on outstanding transactions
to the defaulting party;

 

(o)            unsecured
Indebtedness in an unlimited amount, so long as (i) no Event of Default exists immediately prior to and no Default would exist immediately
after giving effect to such Indebtedness; (ii) the Loan Parties are in Pro Forma Compliance, immediately prior to and immediately
after giving effect to such Indebtedness, with a Consolidated Leverage Ratio of not greater than 4.50:1.00 (with any committed amounts
then being incurred or established assumed to be fully drawn, but without netting the proceeds from any such Indebtedness); and (iii) such
Indebtedness shall (A) not mature earlier than the latest Maturity Date at the time of incurrence of such Indebtedness, (B) have
a Weighted Average Life to Maturity not shorter than the then-remaining Weighted Average Life to Maturity of the Facilities, (C) not
be incurred or guaranteed at any time by a Person that is not a Guarantor and (E) with respect to financial covenant provisions,
have terms no more restrictive to Holdings and its Subsidiaries than those set forth in this Agreement;

 

(p)            other
unsecured Indebtedness in an aggregate principal amount not to exceed $20,000,000 at any time outstanding; and

 

(q)            Indebtedness
in connection with treasury or cash management services, including treasury, depository, overdraft, credit or debit card, purchasing
cards, electronic funds transfer, cash pooling arrangements, netting services and other cash management arrangements of the Borrower
or any Subsidiary, in each case, incurred in the ordinary course of business.

 

7.03            Investments.

 

Make or hold any Investments,
except:

 

(a)            Investments
held by the Borrower and its Subsidiaries in the form of cash or Cash Equivalents;

 

(b)            advances
to officers, directors and employees of the Borrower and Subsidiaries in an aggregate amount not to exceed $1,000,000 at any time outstanding,
for travel, entertainment, relocation and analogous ordinary business purposes;

 

(c)            (i) Investments
by the Borrower and its Subsidiaries in their respective Subsidiaries outstanding on the Closing Date, including, without
limitation, the entities acquired pursuant to the AdColony Acquisition constituting Subsidiaries of Holdings hereunder, from
and after such Acquisition, (ii) additional Investments by the Borrower and its Subsidiaries in Loan Parties,
(iii) additional Investments by Subsidiaries of the Borrower that are not Loan Parties in other Subsidiaries that are not Loan
Parties and (iv) additional Investments by the Loan Parties in wholly-owned Subsidiaries that are not Loan Parties; provided
that no Investment may be made pursuant to this clause (c)(iv) if (A) an Event of Default has occurred and is
continuing or a Default would result therefrom, or (B) the aggregate amount of Investments made pursuant to this clause
(c)(iv) during each fiscal year (other than revenue sharing payments to foreign contractual revenue partners that pass
through Foreign Subsidiaries) shall exceed, or would exceed after giving effect to such Investment, the greater of
(1) $10,000,000 and (2) 10% of Trailing Four Quarter Consolidated EBITDA;

 

    118

     

    

 

(d)            Investments
consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from the grant of trade credit in
the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from financially troubled account
debtors to the extent reasonably necessary in order to prevent or limit loss;

 

(e)            Guarantees
permitted by Section 7.02 (other than solely in reliance on clause (e) thereof);

 

(f)            Investments
existing or committed to be made on the Closing Date (other than those referred to in Section 7.03(c)(i)) and set forth on
Schedule 7.03;

 

(g)            Investments
by the Borrower and its Subsidiaries (including, for the avoidance of doubt, in wholly-owned Subsidiaries that are not Loan Parties),
in each case so long as:

 

(i)            no
Event of Default shall then exist and no Default would exist after giving effect thereto;

 

(ii)            the
Loan Parties shall demonstrate to the reasonable satisfaction of the Administrative Agent that, after giving effect to such Investment
on a Pro Forma Basis, the Loan Parties are in Pro Forma Compliance with each of the financial covenants set forth in Section 7.11,
provided that the numerator of the Consolidated Secured Net Leverage Ratio shall be at least 0.25 less than the
then applicable maximum level set forth in Section 7.11, calculated using the same Measurement Period used to determine Pro
Forma Compliance; and

 

(iii)            if
such Investment is an Acquisition,

 

(A)            the
Target is a type of business (or assets used in a type of business) permitted to be engaged in by the Borrower and its Subsidiaries pursuant
to the terms of this Agreement;

 

(B)            the
Administrative Agent, on behalf of the Secured Parties, shall have received (or shall receive in connection with the closing of such
Acquisition) a first priority perfected security interest (subject to Permitted Liens) in all property (including, without limitation,
Equity Interests) acquired with respect to the Target to the extent required by the terms of Section 6.14 and the Target,
if a Person, shall have executed a Joinder Agreement to the extent required by the terms of Section 6.13;

 

    119

     

    

 

(C)            the
Administrative Agent and the Lenders shall have received not less than thirty (30) days prior to the consummation of any such Acquisition
(1) a description of the material terms of such Acquisition, and (2) not less than five (5) Business Days prior to the
consummation of any Acquisition with a purchase price in excess of $50,000,000, a Permitted Acquisition Certificate, executed by a Responsible
Officer of the Borrower certifying that such Acquisition complies with the requirements of this Agreement and providing notice of whether
the Borrower elects to commence a Leverage Increase Period in accordance with Section 7.11(a); and

 

(D)            such
Acquisition shall not be a “hostile” Acquisition and shall have been approved by the board of directors (or equivalent) and/or
shareholders (or equivalent) of the applicable Loan Party and the Target;

 

(h)            Investments
(including debt obligations) received in connection with the bankruptcy or reorganization of suppliers and customers and in settlement
of delinquent obligations of, and other disputes with, customers and suppliers arising in the ordinary course of business;

 

(i)            Investments
held by a Person (other than a Loan Party or Subsidiary) as of the date such Person is acquired and becomes a Subsidiary or is merged
with or into or consolidated with a Loan Party or Subsidiary, in each case to the extent permitted hereunder, provided
that (i) such Investments were not made, in any case, by such Person in connection with, or in contemplation of, such Permitted
Acquisition, and (ii) with respect to any such Person which becomes a Subsidiary, such Subsidiary remains the only holder of such
Investment;

 

(j)            to
the extent constituting an Investment, transactions permitted under Section 7.02 (other than solely in reliance on clause (e) thereof),
Section 7.04 (other than solely in reliance on clause (g) thereof) and Section 7.06; and

 

(k)            other
Investments not exceeding $20,000,000 in the aggregate in any fiscal year of Holdings; provided no such Investment may be made
pursuant to this clause (k) if an Event of Default has occurred and is continuing or would result therefrom.

 

provided,
that, in no event shall the Borrower or any Subsidiary make any Investment in a Person that is not a Loan Party (including any
transfer from a Loan Party to a non-Loan Party) consisting in whole or in part of IP Rights of the Borrower and its Subsidiaries that
are material to the business of the Borrower and its Subsidiaries taken as a whole (as reasonably determined by the Borrower).

 

    120

     

    

 

7.04            Fundamental
Changes.

 

Merge, dissolve, liquidate,
consolidate with or into another Person, or Dispose of (whether in one transaction or in a series of transactions) all or substantially
all of its assets (whether now owned or hereafter acquired) to or in favor of any Person, except that, so long as no Default exists or
would result therefrom:

 

(a)            any
Subsidiary may merge with (i) the Borrower; provided that the Borrower shall be the continuing or surviving Person, or (ii) any
one or more other Subsidiaries, provided that when any Loan Party (other than Holdings) is merging with another Subsidiary, such
Loan Party shall be the continuing or surviving Person;

 

(b)            any
Loan Party may Dispose of all or substantially all of its assets (upon voluntary liquidation or otherwise) to the Borrower or to another
Loan Party (other than Holdings);

 

(c)            any
Subsidiary that is not a Loan Party may dispose of all or substantially all its assets (including any Disposition that is in the nature
of a liquidation) to (i) another Subsidiary that is not a Loan Party or (ii) to a Loan Party (other than Holdings);

 

(d)            in
connection with any Permitted Acquisition, any Subsidiary of the Borrower may merge into or consolidate with any other Person or permit
any other Person to merge into or consolidate with it; provided that (i) the Person surviving such merger shall be a wholly-owned
Subsidiary of the Borrower and (ii) in the case of any such merger to which any Loan Party (other than Holdings) is a party, such
Loan Party is the surviving Person;

 

(e)            each
of the Borrower and any of its Subsidiaries may merge into or consolidate with any other Person or permit any other Person to merge into
or consolidate with it; provided, however, that in each case, immediately after giving effect thereto (i) in the case
of any such merger to which the Borrower is a party, the Borrower is the surviving Person and (ii) in the case of any such merger
to which any Loan Party (other than Holdings or the Borrower) is a party, such Loan Party is the surviving Person;

 

(f)            the
Borrower and its Subsidiaries may make Dispositions permitted by Section 7.05 (other than solely in reliance on clause (d) thereof);

 

(g)            any
Investment permitted by Section 7.03(g) or (k) may be structured as a merger, consolidation or amalgamation;
and

 

(h)            any
Subsidiary (other than a Borrower) may dissolve, liquidate or wind up its affairs if it owns no material assets, engages in no business
and otherwise has no activities other than activities related to the maintenance of its existence and good standing.

 

    121

     

    

 

7.05            Dispositions.

 

Make any Disposition or enter
into any agreement to make any Disposition, except:

 

(a)            Permitted
Transfers;

 

(b)            Dispositions
of obsolete or worn out property, whether now owned or hereafter acquired, in the ordinary course of business;

 

(c)            Dispositions
of equipment or real property to the extent that (i) such property is exchanged for credit against the purchase price of similar
replacement property or (ii) the proceeds of such Disposition are reasonably promptly applied to the purchase price of such replacement
property;

 

(d)            Dispositions
permitted by Section 7.04 (other than solely in reliance on clause (f) thereof) and, to the extent constituting a Disposition,
(i) Investments permitted by Section 7.03, (ii) Restricted Payments permitted by Section 7.06 and (iii) Equity
Issuances and other equity issuances, in each case, of Holdings not expressly prohibited herein;

 

(e)            non-exclusive
licenses of trademarks, service marks, trade names, copyrights, patents, patent rights, trade secrets, know-how, franchises, licenses
and other intellectual property rights in the ordinary course of business and substantially consistent with past practice;

 

(f)            the
lapse of registered patents, trademarks and other Intellectual Property to the extent not material in the conduct of its business and
so long as such lapse is not materially adverse to the interests of the Administrative Agent and the Lenders;

 

(g)            the
discount, write-off or Disposition of accounts receivable overdue by more than one hundred twenty (120) days or the sale of any such
accounts receivable for the purpose of collection to any collection agency, in each case in the ordinary course of business;

 

(h)            the
unwinding of any Swap Contract so long as the Swap Termination Value associated therewith does not exceed $5,000,000;

 

(i)            other
Dispositions so long as (i) the consideration paid in connection therewith shall be cash or Cash Equivalents paid
contemporaneously with consummation of the transaction and shall be in an amount not less than the fair market value of the property
disposed of, (ii) [reserved], (iii) such transaction does not involve the sale or other disposition of a minority
Equity Interests in any Subsidiary, (iv) such transaction does not involve a sale or other disposition of receivables other
than receivables owned by or attributable to other property concurrently being disposed of in a transaction otherwise permitted
under this Section 7.05, and (v) the aggregate net book value of all of the assets sold or otherwise disposed of by
the Loan Parties and their Subsidiaries in all such transactions in any fiscal year of Holdings shall not exceed $10,000,000;
and

 

(j)            sales,
transfers or other dispositions of accounts receivable in connection with receivables factoring arrangements in the ordinary course of
business that are permitted to be assumed pursuant to Section 7.02(m);

 

provided,
that, in no event shall the Borrower or any Subsidiary Dispose of, or exclusively license, to a Person that is not a Loan Party
(including any transfer from a Loan Party to a non-Loan Party) IP Rights of the Borrower and its Subsidiaries that are material to the
business of the Borrower and its Subsidiaries taken as a whole (as reasonably determined by the Borrower).

 

    122

     

    

 

 

7.06            Restricted
Payments.

 

Declare or make, directly
or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except that, so long as no Event of
Default shall have occurred and be continuing at the time of any action described below and no Default would result therefrom:

 

(a)            each
Subsidiary may make Restricted Payments to any Person that owns Equity Interests in such Subsidiary, ratably according to their respective
holdings of the type of Equity Interest in respect of which such Restricted Payment is being made;

 

(b)            the
Borrower and each Subsidiary may declare and make dividend payments or other distributions payable solely in common Equity Interests
of such Person;

 

(c)            the
Borrower may make other Restricted Payments so long as the Loan Parties shall demonstrate to the reasonable satisfaction of the Administrative
Agent that, after giving effect to the making of such Restricted Payment on a Pro Forma Basis, the Loan Parties are in Pro Forma Compliance
with (i) each of the financial covenants set forth in Section 7.11 and (ii) a Consolidated Secured Net Leverage
Ratio of not greater than 3.25:1.00, provided that during a Leverage Increase Period the maximum Consolidated Secured Net Leverage
Ratio shall be 3.50:1.00;

 

(d)            the
Borrower may make regularly scheduled payments (including the final payment) in respect of earnout obligations so long as the Loan Parties
shall demonstrate to the reasonable satisfaction of the Administrative Agent that, after giving effect to such payment on a Pro Forma
Basis, the Loan Parties shall be in Pro Forma Compliance with each of the financial covenants set forth in Section 7.11;

 

(e)            the
Borrower and each Subsidiary may purchase, redeem or otherwise acquire Equity Interests issued by it with the proceeds received from
the substantially concurrent issue of new common Equity Interests; and

 

(f)            the
Borrower and each Subsidiary may pay withholding or similar taxes payable by any future, present or former employee, director or officer
(or any spouses, former spouses, successors, executors, administrators, heirs, legatees or distributees of any of the foregoing) in connection
with any repurchases of Equity Interests or the exercise of stock options.

 

7.07            Change
in Nature of Business. Engage in any material line of business substantially different from or not complementary to those
lines of business conducted by the Borrower and its Subsidiaries on the Closing Date or any business substantially related or incidental
thereto or representing a reasonable expansion thereof.

 

7.08            Transactions
with Affiliates. Enter into or permit to exist any transaction or series of transactions with any officer, director or
Affiliate of such Person other than (a) advances of working capital to any Loan Party, (b) transfers of cash and assets to
any Loan Party, (c)  transactions expressly permitted among Holdings and its Subsidiaries and between such Subsidiaries by this
Agreement, (d) normal and reasonable compensation and reimbursement of expenses of officers and directors and (e) except as
otherwise specifically limited in this Agreement, other transactions which are entered into on terms and conditions substantially at
least as fair, reasonable and favorable to such Person as would be obtainable by it in a comparable arm’s length transaction with
a Person other than an officer, director or Affiliate.

 

    123 

     

    

 

7.09            Burdensome
Agreements. Enter into, or permit to exist, any Contractual Obligation that:

 

(a) encumbers or restricts
the ability of any such Person to (i) to act as a Loan Party; (ii) make Restricted Payments to any Loan Party, (iii) pay
any Indebtedness or other obligation owed to any Loan Party, (iv) make loans or advances to any Loan Party, or (v) create
any Lien upon any of their properties or assets, whether now owned or hereafter acquired, or

 

(b) requires the grant
of any Lien on property for any obligation if a Lien on such property is given as security for the Secured Obligations, except,
in each case of the foregoing clauses (a) and (b) (unless specifically noted otherwise):

 

(i)            this
Agreement and the other Loan Documents

 

(ii)            in
the case of clause (a)(v) only, for any document or instrument governing Indebtedness incurred pursuant to Section 7.02(c);
provided that any such restriction contained therein relates only to the asset or assets constructed or acquired in connection
therewith;

 

(iii)            negative
pledges and restrictions on Liens in favor of any holder of Indebtedness permitted under Section 7.02 but solely to the extent
any negative pledge relates to (i) the property financed by such Indebtedness and the proceeds and products thereof or (ii) the
property of the Borrower and its Subsidiaries so long as the agreements governing such Indebtedness permit the Liens securing the Obligations;

 

(iv)            customary
restrictions on the assignment of leases, licenses and other agreements;

 

(v)            any
agreement in effect at the time any Person becomes a Subsidiary of a Loan Party, so long as such agreement was not entered into solely
in contemplation of such Person becoming a Subsidiary or, in any such case, that is set forth in any agreement evidencing any amendments,
restatements, supplements, modifications, extensions, renewals and replacements of the foregoing, so long as only applicable to such
Subsidiary and does not otherwise expand in any material respect the scope of any restriction or condition contained therein;

 

(vi)            customary
provisions in joint venture agreements to the extent entered into in connection with any Investment permitted by Section 7.03;
and

 

(vii)            customary
restrictions (as reasonably determined by the Borrower) on cash or other deposits imposed by customers under contracts entered into in
the ordinary course of business.

 

    124 

     

    

 

7.10            Use
of Proceeds. Use the proceeds of any Credit Extension, whether directly or indirectly, and whether immediately, incidentally
or ultimately, to purchase or carry margin stock (within the meaning of Regulation U) or to extend credit to others for the purpose of
purchasing or carrying margin stock or to refund indebtedness originally incurred for such purpose.

 

7.11            Financial
Covenants.

 

(a)            Consolidated
Secured Net Leverage Ratio. Permit the Consolidated Secured Net Leverage Ratio as of the end of any Measurement Period of Holdings
(commencing with the fiscal quarter ending June 30, 2021) to be greater than 3.50:1.00. Notwithstanding the foregoing, at the sole
election of the Borrower and upon notice thereof to the Administrative Agent pursuant to the Borrower’s delivery of a Permitted
Acquisition Certificate pursuant to Section 7.03(g)(iii)(C) (or, with respect to each of the AdColony Acquisition
and the Fyber Acquisition, pursuant to a Permitted Acquisition Certificate delivered to the Administrative Agent not less than five (5) Business
Days prior to the consummation of such Acquisition), the maximum permitted Consolidated Secured Net Leverage Ratio shall be increased
to 4.00:1.00 in connection with any Permitted Acquisition consummated on or after the Closing Date with aggregate consideration (including,
without duplication, the assumption or incurrence of Indebtedness and all earnout obligations in connection with such Acquisition) equal
to or in excess of $50,000,000, which such increase shall be applicable for the fiscal quarter in which such Acquisition is consummated
and the three consecutive fiscal quarters thereafter (such period, a “Leverage Increase Period”); provided
that, after the first Leverage Increase Period, no subsequent Leverage Increase Period shall take effect hereunder unless at
least two consecutive fiscal quarters without an increase to the Consolidated Secured Net Leverage Ratio shall have elapsed since the
expiration of the prior Leverage Increase Period.

 

(b)            Consolidated
Interest Coverage Ratio. Permit the Consolidated Interest Coverage Ratio as of the end of any Measurement Period to be less than
3.00:1.00.

 

7.12            Amendments
of Organization Documents; Fiscal Year; Legal Name, State of Formation; Form of Entity and Accounting Changes.

 

(a)            Amend
any of its Organization Documents, other than amendments, modifications and waivers that are not materially adverse to the interests
of the Administrative Agent or the Lenders;

 

(b)            change
its fiscal year;

 

(c)            without
providing ten (10) days prior written notice to the Administrative Agent (or such extended period of time as agreed to by the Administrative
Agent), change its name, state of formation, form of organization or principal place of business; or

 

(d)            make
any change in accounting policies or reporting practices, except as permitted by GAAP or SEC rules, regulations or guidelines.

 

    125 

     

    

 

7.13            Sale
and Leaseback Transactions.    Enter into any Sale and Leaseback Transaction.

 

7.14            Prepayments,
Etc. of Junior Indebtedness. Prepay, redeem, purchase, defease or otherwise satisfy or obligate
itself to do so prior to the scheduled maturity thereof in any manner (including by the exercise of any right of setoff) (a “Junior
Debt Prepayment”), or make any payment in violation of any subordination, standstill or collateral sharing terms of, or of
any document governing any Junior Indebtedness, except (a) [reserved], (b) regularly scheduled or required repayments or redemptions
of Junior Indebtedness under the Indebtedness set forth in Schedule 7.02 and refinancings and refundings of such Junior
Indebtedness in compliance with Section 7.02(i) and (c) other Junior Debt Prepayments so long as the Loan Parties
demonstrate to the reasonable satisfaction of the Administrative Agent that, after giving effect to such Junior Debt Prepayment on a
Pro Forma Basis, the Loan Parties are in Pro Forma Compliance with (i) each of the financial covenants set forth in Section 7.11
and (ii) a Consolidated Secured Net Leverage Ratio of not greater than 3.25:1.00, provided that during a Leverage Increase
Period the maximum Consolidated Secured Net Leverage Ratio shall be 3.50:1.00.

 

7.15            Amendment,
Etc. of Junior Indebtedness. Amend, modify or change in any manner any term or condition
of any Junior Indebtedness if such amendment or modification would add or change any terms in a manner adverse to any Loan Party or any
Subsidiary, or shorten the final maturity or average life to maturity or require any payment to be made sooner than originally scheduled,
unless such maturity or such payment date is at least twelve (12) months after the Maturity Date, or increase the interest rate applicable
thereto.

 

7.16            Sanctions.
Directly or indirectly, use any Credit Extension or the proceeds of any Credit Extension, or lend, contribute or otherwise make available
such Credit Extension or the proceeds of any Credit Extension to any Person, to fund any activities of or business with any Person, that,
at the time of such funding, is the subject of Sanctions, or in any other manner that will result in a violation by any Person (including
any Person participating in the transaction, whether as Lender, Arranger, Documentation Agent, Administrative Agent, L/C Issuer, Swingline
Lender, or otherwise) of Sanctions.

 

7.17            Anti-Corruption
Laws. Directly or indirectly, use any Credit Extension or the proceeds of any Credit Extension for any purpose which would
breach the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010 and other anti-corruption legislation in other
jurisdictions.

 

    126 

     

    

 

Article VIII

 

EVENTS
OF DEFAULT AND REMEDIES

 

8.01            Events
of Default.

 

Any of the following shall
constitute an event of default (each, an “Event of Default”):

 

(a)            Non-Payment.
The Borrower or any other Loan Party fails to pay (i) when and as required to be paid herein, any amount of principal of any Loan
or any L/C Obligation or deposit any funds as Cash Collateral in respect of L/C Obligations, or (ii) within three (3) days
after the same becomes due, any interest on any Loan or on any L/C Obligation, or any fee due hereunder, or (iii) within five (5) days
after the same becomes due, any other amount payable hereunder or under any other Loan Document; or

 

(b)            Specific
Covenants. Any Loan Party fails to perform or observe any term, covenant or agreement contained in any of Section 6.01,
6.02, 6.03, 6.05(a) (with respect to the Borrower only), 6.10, 6.11, 6.15, Article VII,
Article X or paragraph 7 of Schedule 6.18; or

 

(c)            Other
Defaults. Any Loan Party fails to perform or observe any other covenant or agreement (not specified in Section 8.01(a) or
(b) above) contained in any Loan Document on its part to be performed or observed and such failure continues for thirty (30)
days; or

 

(d)            Representations
and Warranties. Any representation, warranty, certification or statement of fact made or deemed made by or on behalf of the Borrower
or any other Loan Party herein, in any other Loan Document, or in any document delivered in connection herewith or therewith shall be
incorrect or misleading when made or deemed made; or

 

(e)            Cross-Default.
(i) Any Loan Party or any Subsidiary thereof (A) fails to make any payment when due (whether by scheduled maturity, required
prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness
under Swap Contracts) having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing
to all creditors under any combined or syndicated credit arrangement) of more than the Threshold Amount, or (B) fails to observe
or perform any other agreement or condition relating to any such Indebtedness or Guarantee or contained in any instrument or agreement
evidencing, securing or relating thereto, or any other event occurs, the effect of which default or other event is to cause, or to permit
the holder or holders of such Indebtedness or the beneficiary or beneficiaries of such Guarantee (or a trustee or agent on behalf of
such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to be demanded
or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay,
defease or redeem such Indebtedness to be made, prior to its stated maturity, or such Guarantee to become payable or Cash Collateral
in respect thereof to be demanded; or (ii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap
Contract) resulting from (A) any event of default under such Swap Contract as to which a Loan Party or any Subsidiary thereof is
the defaulting party (as defined in such Swap Contract) or (B) any Termination Event (as so defined) under such Swap Contract as
to which a Loan Party or any Subsidiary thereof is an Affected Party (as so defined) and, in either event, the Swap Termination Value
owed by such Loan Party or such Subsidiary as a result thereof is greater than the Threshold Amount; or

 

    127 

     

    

 

(f)            Insolvency
Proceedings, Etc. Any Loan Party or any Subsidiary thereof institutes or consents to the institution of any proceeding under any
Debtor Relief Law, or makes a general assignment for the benefit of creditors; or applies for or consents to the appointment of any receiver,
trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or any material part of its property;
or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the application
or consent of such Person and the appointment continues undischarged or unstayed for sixty (60) calendar days; or any proceeding under
any Debtor Relief Law relating to any such Person or to all or any material part of its property is instituted without the consent of
such Person and continues undismissed or unstayed for sixty (60) calendar days, or an order for relief is entered in any such proceeding;
or

 

(g)            Inability
to Pay Debts; Attachment. (i) Any Loan Party or any Subsidiary thereof becomes unable or admits in writing its inability or
fails generally to pay its debts as they become due, or (ii) any writ or warrant of attachment or execution or similar process is
issued or levied against all or any material part of the property of any such Person and is not released, vacated or fully bonded within
sixty (60) days after its issue or levy; or

 

(h)            Judgments.
There is entered against any Loan Party or any Subsidiary thereof (i) one or more final judgments or orders for the payment of money
in an aggregate amount (as to all such judgments and orders) exceeding the Threshold Amount (to the extent not covered by independent
third-party insurance as to which the insurer has been notified of the potential claim and does not dispute coverage), or (ii) any
one or more non-monetary final judgments that have, or would reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect and, in either case, (A) enforcement proceedings are commenced by any creditor upon such judgment or order, or (B) there
is a period of ten (10) consecutive days during which a stay of enforcement of such judgment, by reason of a pending appeal or otherwise,
is not in effect; or

 

(i)            ERISA.
(i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which has resulted or would reasonably be expected
to result in liability of any Loan Party under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate
amount in excess of the Threshold Amount, or (ii) the Borrower or any ERISA Affiliate fails to pay when due, after the expiration
of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under
a Multiemployer Plan in an aggregate amount in excess of the Threshold Amount; or

 

(j)            Invalidity
of Loan Documents. Any provision of any Loan Document that materially affects the rights and remedies of the Administrative Agent
or the Lenders with respect to the Loan Parties, at any time after its execution and delivery and for any reason other than as expressly
permitted hereunder or thereunder or satisfaction in full of all Obligations arising under the Loan Documents, ceases to be in full force
and effect; or any Loan Party or any other Person contests in any manner the validity or enforceability of any provision of any Loan
Document; or any Loan Party denies that it has any or further liability or obligation under any provision of any Loan Document, or purports
to revoke, terminate or rescind any provision of any Loan Document; or it is or becomes unlawful for a Loan Party to perform any of its
obligations under the Loan Documents; or

 

    128 

     

    

 

(k)            Collateral
Documents. (i) Any Collateral Document after delivery thereof pursuant to the terms of the Loan Documents shall for any reason
(other than by reason of the express release thereof) cease to create a valid and perfected first priority Lien (subject to Permitted
Liens) on the Collateral purported to be covered thereby, except to the extent any loss of perfection or priority results from the failure
of the Administrative Agent to maintain possession of Collateral actually delivered to it and pledged under the Collateral Documents
or to file initial Uniform Commercial Code financing statements or continuation statements or (ii) any Loan Party shall assert the
invalidity of such Liens; or

 

(l)            Change
of Control. There occurs any Change of Control.

 

Without limiting the provisions
of Article IX, if a Default shall have occurred under the Loan Documents, then such Default will continue to exist until
it either is cured (to the extent specifically permitted) in accordance with the Loan Documents or is otherwise expressly waived by Administrative
Agent (with the approval of requisite Appropriate Lenders (in their sole discretion)) as determined in accordance with Section 11.01;
and once an Event of Default occurs under the Loan Documents, then such Event of Default will continue to exist until it is expressly
waived by the requisite Appropriate Lenders or by the Administrative Agent with the approval of the requisite Appropriate Lenders, as
required hereunder in Section 11.01.

 

8.02            Remedies
upon Event of Default.

 

If any Event of Default occurs
and is continuing, the Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders, take any or
all of the following actions:

 

(a)            declare
the Commitment of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions to be terminated, whereupon
such commitments and obligation shall be terminated;

 

(b)            declare
the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or payable
hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other notice of
any kind, all of which are hereby expressly waived by the Borrower;

 

(c)            require
that the Borrower Cash Collateralize the L/C Obligations (in an amount equal to the Minimum Collateral Amount with respect thereto);
and

 

(d)            exercise
on behalf of itself, the Lenders and the L/C Issuer all rights and remedies available to it, the Lenders and the L/C Issuer under the
Loan Documents or Applicable Law or equity;

 

provided,
however, that upon the occurrence of an event described in Section 8.01(f) with respect to the Borrower, the
Commitment of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions shall automatically terminate,
the unpaid principal amount of all outstanding Loans and all interest and other amounts as aforesaid shall automatically become due and
payable, and the obligation of the Borrower to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective,
in each case without further act of the Administrative Agent or any Lender.

 

    129 

     

    

 

8.03            Application
of Funds.

 

(a)            After
the exercise of remedies provided for in Section 8.02 (or after the Loans have automatically become immediately due and payable
and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.02)
or if at any time insufficient funds are received by and available to the Administrative Agent to pay fully all Secured Obligations then
due hereunder, any amounts received on account of the Secured Obligations shall, subject to the provisions of Sections 2.14
and 2.15, be applied by the Administrative Agent in the following order:

 

First,
to payment of that portion of the Secured Obligations constituting fees, indemnities, expenses and other amounts (including fees, charges
and disbursements of counsel to the Administrative Agent and amounts payable under Article III) payable to the Administrative
Agent in its capacity as such;

 

Second,
to payment of that portion of the Secured Obligations constituting fees, indemnities and other amounts (other than principal, interest
and Letter of Credit Fees) payable to the Lenders and the L/C Issuer (including fees, charges and disbursements of counsel to the respective
Lenders and the L/C Issuer) arising under the Loan Documents and amounts payable under Article III, ratably among them in
proportion to the respective amounts described in this Second clause payable to them;

 

Third,
to payment of that portion of the Secured Obligations constituting accrued and unpaid Letter of Credit Fees and interest on the Loans,
L/C Borrowings and other Secured Obligations arising under the Loan Documents, ratably among the Lenders and the L/C Issuer in proportion
to the respective amounts described in this Third clause payable to them;

 

Fourth,
to payment of that portion of the Secured Obligations constituting unpaid principal of the Loans, L/C Borrowings and Secured Obligations
then owing under Secured Hedge Agreements and Secured Cash Management Agreements and to the to the Administrative Agent for the account
of the L/C Issuer, to Cash Collateralize that portion of L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit
to the extent not otherwise Cash Collateralized by the Borrower pursuant to Sections 2.03 and 2.14, in each case ratably
among the Administrative Agent, the Lenders, the L/C Issuer, the Hedge Banks and the Cash Management Banks in proportion to the respective
amounts described in this Fourth clause held by them; and

 

Last,
the balance, if any, after all of the Secured Obligations have been indefeasibly paid in full, to the Borrower or as otherwise required
by Law.

 

    130 

     

    

 

(b)            Subject
to Sections 2.03(c) and 2.14, amounts used to Cash Collateralize the aggregate undrawn amount of Letters of Credit
pursuant to the Fourth clause above shall be applied to satisfy drawings under such Letters of Credit as they occur. If
any amount remains on deposit as Cash Collateral after all Letters of Credit have either been fully drawn or expired, such remaining
amount shall be applied to the other Secured Obligations, if any, in the order set forth above. Excluded Swap Obligations with respect
to any Loan Party shall not be paid with amounts received from such Loan Party or its assets, but appropriate adjustments shall be made
with respect to payments from other Loan Parties to preserve the allocation to Secured Obligations otherwise set forth above in this
Section 8.03.

 

(c)            Notwithstanding
the foregoing, Secured Obligations arising under Secured Cash Management Agreements and Secured Hedge Agreements shall be excluded from
the application described above if the Administrative Agent has not received a Secured Party Designation Notice, together with such supporting
documentation as the Administrative Agent may request, from the applicable Cash Management Bank or Hedge Bank, as the case may be. Each
Cash Management Bank or Hedge Bank not a party to this Agreement that has given the notice contemplated by the preceding sentence shall,
by such notice, be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of Article IX
for itself and its Affiliates as if a “Lender” party hereto.

 

Article IX

 

ADMINISTRATIVE
AGENT

 

9.01            Appointment
and Authority.

 

(a)            Appointment.
Each of the Lenders and the L/C Issuer hereby irrevocably appoints, designates and authorizes Bank of America to act on its behalf as
the Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on
its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such
actions and powers as are reasonably incidental thereto. The provisions of this Article IX are solely for the benefit of
the Administrative Agent, the Lenders and the L/C Issuer, and neither the Borrower nor any other Loan Party shall have rights as a third
party beneficiary of any of such provisions. It is understood and agreed that the use of the term “agent” herein or in any
other Loan Documents (or any other similar term) with reference to the Administrative Agent is not intended to connote any fiduciary
or other implied (or express) obligations arising under agency doctrine of any Applicable Law. Instead such term is used as a
matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties.

 

(b)            Collateral
Agent. The Administrative Agent shall also act as the “collateral agent” under the Loan Documents, and each of the Lenders
(including in its capacities as a potential Hedge Bank, and a potential Cash Management Bank) and the L/C Issuer hereby irrevocably appoints
and authorizes the Administrative Agent to act as the agent of such Lender and the L/C Issuer for purposes of acquiring, holding and
enforcing any and all Liens on Collateral granted by any of the Loan Parties to secure any of the Secured Obligations, together with
such powers and discretion as are reasonably incidental thereto. In this connection, the Administrative Agent, as “collateral agent”
and any co-agents, sub-agents and attorneys-in-fact appointed by the Administrative Agent pursuant to Section 9.05 for purposes
of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Collateral Documents, or for exercising
any rights and remedies thereunder at the direction of the Administrative Agent, shall be entitled to the benefits of all provisions
of this Article IX and Article XI (including Section 11.04(c), as though such co-agents, sub-agents
and attorneys-in-fact were the “collateral agent” under the Loan Documents) as if set forth in full herein with respect thereto.

 

    131 

     

    

  

9.02            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, own securities of, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of banking,
trust, financial, advisory, underwriting or other business with any Loan Party 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 or to provide notice to or
consent of the Lenders with respect thereto.

 

9.03            Exculpatory
Provisions.

 

(a)            The
Administrative Agent or the Arrangers or Documentation Agents, as applicable, shall not have any duties or obligations except those expressly
set forth herein and in the other Loan Documents, and its duties hereunder shall be administrative in nature. Without limiting the generality
of the foregoing, the Administrative Agent or the Arrangers or Documentation Agents, as applicable, and its Related Parties:

 

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

 

(ii)            shall
not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly
contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the
Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents),
provided that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel,
may expose the Administrative Agent to liability or that is contrary to any Loan Document or Applicable Law, including for the avoidance
of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification
or termination of property of a Defaulting Lender in violation of any Debtor Relief Law; and

 

    132 

     

    

 

(iii)            shall
not have any duty or responsibility to disclose, and shall not be liable for the failure to disclose, to any Lender or the L/C Issuer
any credit or other information concerning the business, prospects, operations, property, financial and other condition or creditworthiness
of any of the Loan Parties or any of their Affiliates that is communicated to, or in the possession of, the Administrative Agent, Arrangers
or Documentation Agents or any of their Related Parties in any capacity, except for notices, reports and other documents expressly required
to be furnished to the Lenders by the Administrative Agent herein.

 

(b)            Neither
the Administrative Agent nor any of its Related Parties shall be liable for any action taken or not taken by the Administrative Agent
under or in connection with this Agreement or any other Loan Document or the transactions contemplated hereby or thereby (i) with
the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary), or as
the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in Sections 11.01
and 8.02) or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent
jurisdiction by final and non-appealable judgment. The Administrative Agent shall be deemed not to have knowledge of any Default unless
and until notice describing such Default is given in writing to the Administrative Agent by the Borrower, a Lender or the L/C Issuer.

 

(c)            Neither
the Administrative Agent nor any of its Related Parties have any duty or obligation to any Lender or participant or any other Person
to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other
Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection
herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set
forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this
Agreement, any other Loan Document or any other agreement, instrument or document, or the creation, perfection or priority of any Lien
purported to be created by the Collateral Documents, (v) the value or the sufficiency of any Collateral, or (vi) the
satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly
required to be delivered to the Administrative Agent.

 

9.04            Reliance
by Administrative Agent. The Administrative Agent shall be entitled to rely upon, and shall be fully protected in relying
and shall not incur any liability for relying upon, any notice, request, certificate, communication, 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 be fully
protected in relying and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to
the making of a Loan, or the issuance, extension, renewal or increase of a Letter of Credit, that by its terms must be fulfilled to the
satisfaction of a Lender or the L/C Issuer, the Administrative Agent may presume that such condition is satisfactory to such Lender or
the L/C Issuer unless the Administrative Agent shall have received notice to the contrary from such Lender or the L/C Issuer prior to
the making of such Loan or the issuance of such Letter of Credit. The Administrative Agent may consult with legal counsel (who may be
counsel for the Loan Parties), 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. For purposes of determining compliance
with the conditions specified in Section 4.01, each Lender that has signed this Agreement shall be deemed to have consented
to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by
or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed
Closing Date specifying its objections.

 

    133 

     

    

 

9.05            Delegation
of Duties. The Administrative Agent may perform any and all of its duties and exercise its rights and powers hereunder
or under any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent
and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Related
Parties. The exculpatory provisions of this Article IX shall apply to any such sub-agent and to the Related Parties of the
Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the
credit facilities provided hereunder as well as activities as Administrative Agent. The Administrative Agent shall not be responsible
for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a final
and non-appealable judgment that the Administrative Agent acted with gross negligence or willful misconduct in the selection of such
sub-agents.

 

9.06            Resignation
of Administrative Agent.

 

(a)            Notice.
The Administrative Agent may at any time give notice of its resignation to the Lenders, the L/C Issuer and the Borrower. Upon receipt
of any such notice of resignation, the Required Lenders shall have the right, in consultation with the Borrower, to appoint a successor,
which shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United States. If no
such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within thirty (30) days
after the retiring Administrative Agent gives notice of its resignation (or such earlier day as shall be agreed by the Required Lenders)
(the “Resignation Effective Date”), then the retiring Administrative Agent may (but shall not be obligated
to) on behalf of the Lenders and the L/C Issuer, appoint a successor Administrative Agent meeting the qualifications set forth above;
provided that in no event shall any successor Administrative Agent be a Defaulting Lender. Whether or not a successor has been
appointed, such resignation shall become effective in accordance with such notice on the Resignation Effective Date.

 

(b)            Effect
of Resignation. With effect from the Resignation Effective Date (i) the retiring Administrative Agent shall be discharged from
its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by the
Administrative Agent on behalf of the Lenders or the L/C Issuer under any of the Loan Documents, the retiring Administrative Agent shall
continue to hold such collateral security until such time as a successor Administrative Agent is appointed) and (ii) except for
any indemnity payments or other amounts then owed to the retiring Administrative Agent, all payments, communications and determinations
provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender and the L/C Issuer directly,
until such time, if any, as the Required Lenders appoint a successor Administrative Agent as provided for above. 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 Administrative Agent (other than as provided in Section 3.01(g) and
other than any rights to indemnity payments or other amounts owed to the retiring Administrative Agent as of the Resignation Effective
Date), and the retiring Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other
Loan Documents (if not already discharged therefrom as provided above in this Section 9.06). 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 XI and Section 11.04 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
(A) while the retiring Administrative Agent was acting as Administrative Agent and (B) after such resignation or removal for
as long as any of them continues to act in any capacity hereunder or under the other Loan Documents, including, without limitation, (1) acting
as collateral agent or otherwise holding any collateral security on behalf of any of the Secured Parties and (2) in respect of any
actions taken in connection with transferring the agency to any successor Administrative Agent.

 

    134 

     

    

 

 

(c)            L/C
Issuer and Swingline Lender. Any resignation by Bank of America as Administrative Agent pursuant to this Section 9.06
shall also constitute its resignation as L/C Issuer and Swingline Lender. If Bank of America resigns as the L/C Issuer, it shall retain
all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the
effective date of its resignation as the L/C Issuer and all L/C Obligations with respect thereto, including the right to require the
Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.03(c). If Bank
of America resigns as Swingline Lender, it shall retain all the rights of the Swingline Lender provided for hereunder with respect to
Swingline Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Lenders to
make Base Rate Loans or fund risk participations in outstanding Swingline Loans pursuant to Section 2.04(c). Upon the appointment
by the Borrower of a successor L/C Issuer or Swingline Lender hereunder (which successor shall in all cases be a Lender other than a
Defaulting Lender), (i) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties
of the retiring L/C Issuer or Swingline Lender, as applicable, (ii) the retiring L/C Issuer and Swingline Lender shall be discharged
from all of their respective duties and obligations hereunder or under the other Loan Documents, and (iii) the successor L/C Issuer
shall issue Letters of Credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other
arrangements satisfactory to Bank of America to effectively assume the obligations of Bank of America with respect to such Letters of
Credit.

 

9.07        Non-Reliance
on Administrative Agent, the Arrangers or Documentation Agents and the Other Lenders.
 Each Lender and the L/C Issuer expressly acknowledges that none of the Administrative Agent nor the Arrangers or Documentation Agents
has made any representation or warranty to it, and that no act by the Administrative Agent or the Arrangers or Documentation Agents hereafter
taken, including any consent to, and acceptance of any assignment or review of the affairs of any Loan Party or any Affiliate thereof,
shall be deemed to constitute any representation or warranty by the Administrative Agent or the Arrangers or Documentation Agents to
any Lender or the L/C Issuer as to any matter, including whether the Administrative Agent or the Arrangers or Documentation Agents have
disclosed material information in their (or their Related Parties’) possession. Each Lender and the L/C Issuer represents to the
Administrative Agent and the Arrangers and Documentation Agents that it has, independently and without reliance upon the Administrative
Agent, the Arrangers or Documentation Agents, any other Lender or any of their Related Parties and based on such documents and information
as it has deemed appropriate, made its own credit analysis of, appraisal of, and investigation into, the business, prospects, operations,
property, financial and other condition and creditworthiness of the Loan Parties and their Subsidiaries, and all applicable bank or other
regulatory Laws relating to the transactions contemplated hereby, and made its own decision to enter into this Agreement and to extend
credit to the Borrower hereunder. Each Lender and the L/C Issuer also acknowledges that it will, independently and without reliance upon
the Administrative Agent, the Arrangers or Documentation Agents, any other Lender or any of their Related Parties and based on such documents
and information as it shall from time to time deem appropriate, continue to make its own credit analysis, appraisals and decisions in
taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished
hereunder or thereunder, and to make such investigations as it deems necessary to inform itself as to the business, prospects, operations,
property, financial and other condition and creditworthiness of the Loan Parties. Each Lender and the L/C Issuer represents and warrants
that (i) the Loan Documents set forth the terms of a commercial lending facility and (ii) it is engaged in making, acquiring
or holding commercial loans in the ordinary course and is entering into this Agreement as a Lender or L/C Issuer for the purpose of making,
acquiring or holding commercial loans and providing other facilities set forth herein as may be applicable to such Lender or L/C Issuer,
and not for the purpose of purchasing, acquiring or holding any other type of financial instrument, and each Lender and the L/C Issuer
agrees not to assert a claim in contravention of the foregoing. Each Lender and the L/C Issuer represents and warrants that it is sophisticated
with respect to decisions to make, acquire and/or hold commercial loans and to provide other facilities set forth herein, as may be applicable
to such Lender or such L/C Issuer, and either it, or the Person exercising discretion in making its decision to make, acquire and/or
hold such commercial loans or to provide such other facilities, is experienced in making, acquiring or holding such commercial loans
or providing such other facilities.

 

    135 

     

    

 

9.08        No
Other Duties, Etc. Anything herein to the contrary notwithstanding, none of the titles listed on the cover page hereof
shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as
applicable, as the Administrative Agent, the Arrangers or Documentation Agents, a Lender or the L/C Issuer hereunder.

 

9.09        Administrative
Agent May File Proofs of Claim; Credit Bidding.

 

(a)           In
case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party, the Administrative
Agent (irrespective of whether the principal of any Loan or L/C Obligation shall then be due and payable as herein expressed or by declaration
or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered,
by intervention in such proceeding or otherwise:

 

(i)            to
file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, L/C Obligations
and all other Secured Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in
order to have the claims of the Lenders, the L/C Issuer and the Administrative Agent (including any claim for the reasonable
compensation, expenses, disbursements and advances of the Lenders, the L/C Issuer and the Administrative Agent and their respective
agents and counsel and all other amounts due the Lenders, the L/C Issuer and the Administrative Agent under Sections
2.03(h) and (i), 2.09, 2.10(b) and 11.04) allowed in such judicial proceeding;
and

 

(ii)            to
collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same;

 

and any custodian, receiver, assignee,
trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender and the
L/C Issuer to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making
of such payments directly to the Lenders and the L/C Issuer, to pay to the Administrative Agent any amount due for the reasonable compensation,
expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative
Agent under Sections 2.09, 2.10(b) and 11.04.

 

(b)           Nothing
contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any
Lender or the L/C Issuer any plan of reorganization, arrangement, adjustment or composition affecting the Secured Obligations or the
rights of any Lender or the L/C Issuer to authorize the Administrative Agent to vote in respect of the claim of any Lender or the L/C
Issuer or in any such proceeding.

 

(c)           The
Secured Parties hereby irrevocably authorize the Administrative Agent, at the direction of the Required Lenders, to credit bid all
or any portion of the Secured Obligations (including accepting some or all of the Collateral in satisfaction of some or all of the
Secured Obligations pursuant to a deed in lieu of foreclosure or otherwise) and in such manner purchase (either directly or through
one or more acquisition vehicles) all or any portion of the Collateral (i) at any sale thereof conducted under the provisions
of the Bankruptcy Code of the United States, including under Sections 363, 1123 or 1129 of the Bankruptcy Code of the United States,
or any similar Laws in any other jurisdictions to which a Loan Party is subject, (ii) at any other sale or foreclosure or
acceptance of collateral in lieu of debt conducted by (or with the consent or at the direction of) the Administrative Agent (whether
by judicial action or otherwise) in accordance with any Applicable Law. In connection with any such credit bid and purchase, the
Secured Obligations owed to the Secured Parties shall be entitled to be, and shall be, credit bid on a ratable basis (with Secured
Obligations with respect to contingent or unliquidated claims receiving contingent interests in the acquired assets on a ratable
basis that would vest upon the liquidation of such claims in an amount proportional to the liquidated portion of the contingent
claim amount used in allocating the contingent interests) in the asset or assets so purchased (or in the Equity Interests or debt
instruments of the acquisition vehicle or vehicles that are used to consummate such purchase). In connection with any such bid
(A) the Administrative Agent shall be authorized to form one or more acquisition vehicles to make a bid, (B) to adopt
documents providing for the governance of the acquisition vehicle or vehicles (provided that any actions by the
Administrative Agent with respect to such acquisition vehicle or vehicles, including any disposition of the assets or Equity
Interests thereof shall be governed, directly or indirectly, by the vote of the Required Lenders, irrespective of the
termination of this Agreement and without giving effect to the limitations on actions by the Required Lenders contained in clauses
(a) through (e) of Section 11.01 of this Agreement), and (C) to the extent that Secured
Obligations that are assigned to an acquisition vehicle are not used to acquire Collateral for any reason (as a result of another
bid being higher or better, because the amount of Secured Obligations assigned to the acquisition vehicle exceeds the amount of debt
credit bid by the acquisition vehicle or otherwise), such Secured Obligations shall automatically be reassigned to the Lenders pro
rata and the Equity Interests and/or debt instruments issued by any acquisition vehicle on account of the Secured Obligations
that had been assigned to the acquisition vehicle shall automatically be cancelled, without the need for any Secured Party or any
acquisition vehicle to take any further action.

 

    136 

     

    

 

9.10        Collateral
and Guaranty Matters.

 

(a)            Each
of the Lenders (including in its capacities as a potential Cash Management Bank and a potential Hedge Bank) and the L/C Issuer irrevocably
authorize the Administrative Agent, at its option and in its discretion,

 

(i)            to
release any Lien on any property granted to or held by the Administrative Agent under any Loan Document (i) upon the Facility Termination
Date, (ii) that is sold or otherwise disposed of or to be sold or otherwise disposed of as part of or in connection with any sale
or other disposition permitted hereunder or under any other Loan Document, or (iii) if approved, authorized or ratified in writing
by the Required Lenders in accordance with Section 11.01;

 

(ii)           to
subordinate any Lien on any property granted to or held by the Administrative Agent under any Loan Document to the holder of any Lien
on such property that is permitted by Section 7.01(i); and

 

(iii)          to
release any Guarantor from its obligations under the Guaranty if such Person ceases to be a Subsidiary as a result of a transaction permitted
under the Loan Documents.

 

(b)           Upon
request by the Administrative Agent at any time, the Required Lenders will confirm in writing the Administrative Agent’s authority
to release or subordinate its interest in particular types or items of property, or to release any Guarantor from its obligations under
the Guaranty pursuant to this Section 9.10. In each case as specified in this Section 9.10, the Administrative
Agent will, at the Borrower’s expense, execute and deliver to the applicable Loan Party such documents as such Loan Party may reasonably
request to evidence the release of such item of Collateral from the assignment and security interest granted under the Collateral Documents
or to subordinate its interest in such item, or to release such Guarantor from its obligations under the Guaranty, in each case in accordance
with the terms of the Loan Documents and this Section 9.10.

 

(c)           The
Administrative Agent shall not be responsible for or have a duty to ascertain or inquire into any representation or warranty regarding
the existence, value or collectability of the Collateral, the existence, priority or perfection of the Administrative Agent’s Lien
thereon, or any certificate prepared by any Loan Party in connection therewith, nor shall the Administrative Agent be responsible or
liable to the Lenders for any failure to monitor or maintain any portion of the Collateral.

 

    137 

     

    

 

9.11        Secured
Cash Management Agreements and Secured Hedge Agreements. Except as otherwise expressly set forth in the Guaranty or any
Collateral Document, no Cash Management Bank or Hedge Bank that obtains the benefit of the provisions of Section 8.03, the
Guaranty or any Collateral by virtue of the provisions hereof or the Collateral Document shall have any right to notice of any action
or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral
(including the release or impairment of any Collateral) (or to notice of or to consent to any amendment, waiver or modification of the
provisions hereof or of the Guaranty or any Collateral Document) other than in its capacity as a Lender and, in such case, only to the
extent expressly provided in the Loan Documents. Notwithstanding any other provision of this Article IX to the contrary,
the Administrative Agent shall not be required to verify the payment of, or that other satisfactory arrangements have been made with
respect to, Secured Obligations arising under Secured Cash Management Agreements and Secured Hedge Agreements except to the extent expressly
provided herein and unless the Administrative Agent has received a Secured Party Designation Notice of such Secured Obligations, together
with such supporting documentation as the Administrative Agent may request, from the applicable Cash Management Bank or Hedge Bank, as
the case may be. The Administrative Agent shall not be required to verify the payment of, or that other satisfactory arrangements have
been made with respect to, Secured Obligations arising under Secured Cash Management Agreements and Secured Hedge Agreements in the case
of a Facility Termination Date.

 

9.12        Certain
ERISA Matters.

 

(a)           Each
Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the
date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative
Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that at least one of the following
is and will be true:

 

(i)            such
Lender is not using “plan assets” (within the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit
Plans with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters
of Credit, the Commitments, or this agreement,

 

(ii)           the
transaction exemption set forth in one or more PTEs, such as PTE 84–14 (a class exemption for certain transactions determined by
independent qualified professional asset managers), PTE 95–60 (a class exemption for certain transactions involving insurance company
general accounts), PTE 90–1 (a class exemption for certain transactions involving insurance company pooled separate accounts),
PTE 91–38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96–23 (a class exemption
for certain transactions determined by in-house asset managers), is applicable with respect to such Lender’s entrance into, participation
in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement,

 

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

 

(iv)          such
other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion, and
such Lender.

 

(b)           In
addition, unless either (1) clause (i) in the immediately preceding clause (a) is true with respect
to a Lender or (2) a Lender has provided another representation, warranty and covenant in accordance with clause (iv) in
the immediately preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person became
a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases
being a Lender party hereto, for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit
of the Borrower or any other Loan Party, that the Administrative Agent is not a fiduciary with respect to the assets of such Lender involved
in such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments
and this Agreement (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement,
any Loan Document or any documents related hereto or thereto).

 

    138 

     

    

 

9.13        Recovery
of Erroneous Payments Without limitation of any other provision in this Agreement, if
at any time the Administrative Agent makes a payment hereunder in error to any Lender or the L/C Issuer (each, a “Credit
Party”), whether or not in respect of an Obligation due and owing by the Borrower at such time, where such
payment is a Rescindable Amount, then in any such event, each Credit Party receiving a Rescindable Amount severally agrees to repay
to the Administrative Agent forthwith on demand the Rescindable Amount received by such Credit Party in immediately available funds
in the currency so received, with interest thereon, for each day from and including the date such Rescindable Amount is received by
it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate and a rate determined
by the Administrative Agent in accordance with banking industry rules on interbank compensation. Each Credit Party irrevocably
waives any and all defenses, including any “discharge for value” (under which a creditor might otherwise claim a right
to retain funds mistakenly paid by a third party in respect of a debt owed by another) or similar defense to its obligation to
return any Rescindable Amount. The Administrative Agent shall inform each Credit Party promptly upon determining that any payment
made to such Credit Party comprised, in whole or in part, a Rescindable Amount.

 

Article X

 

CONTINUING
GUARANTY

 

10.01      Guaranty.
Each Guarantor hereby absolutely and unconditionally, jointly and severally Guarantees, as primary obligor and as a guaranty of payment
and performance and not merely as a guaranty of collection, prompt payment when due, whether at stated maturity, by required prepayment,
upon acceleration, demand or otherwise, and at all times thereafter, of any and all Secured Obligations, whether for principal, interest,
premiums, fees, indemnities, damages, costs, expenses or otherwise, of the Borrower to the Secured Parties and whether arising hereunder
or under any other Loan Document, any Secured Cash Management Agreement or any Secured Hedge Agreement (including all renewals, extensions,
amendments, refinancings and other modifications thereof and all costs, attorneys’ fees and expenses incurred by the Secured Parties
in connection with the collection or enforcement thereof) (for each Guarantor, subject to the proviso in this sentence, its “Guaranteed
Obligations”); provided that (a) the Guaranteed Obligations of a Guarantor shall exclude any Excluded Swap Obligations
with respect to such Guarantor and (b) the liability of each Guarantor individually with respect to this Guaranty shall be limited
to an aggregate amount equal to the largest amount that would not render its obligations hereunder subject to avoidance under Section 548
of the Bankruptcy Code of the United States or any comparable provisions of any applicable state law. Without limiting the generality
of the foregoing, the Guaranteed Obligations shall include any such indebtedness, obligations, and liabilities, or portion thereof, which
may be or hereafter become unenforceable or compromised or shall be an allowed or disallowed claim under any proceeding or case commenced
by or against any debtor under any Debtor Relief Laws. The Administrative Agent’s books and records showing the amount of the Obligations
shall be admissible in evidence in any action or proceeding, and shall be binding upon each Guarantor, and conclusive for the purpose
of establishing the amount of the Secured Obligations. This Guaranty shall not be affected by the genuineness, validity, regularity or
enforceability of the Secured Obligations or any instrument or agreement evidencing any Secured Obligations, or by the existence, validity,
enforceability, perfection, non-perfection or extent of any collateral therefor, or by any fact or circumstance relating to the Secured
Obligations which might otherwise constitute a defense to the obligations of the Guarantors, or any of them, under this Guaranty, and
each Guarantor hereby irrevocably waives any defenses it may now have or hereafter acquire in any way relating to any or all of the foregoing.

 

    139 

     

    

 

10.02      Rights
of Lenders. Each Guarantor consents and agrees that the Secured Parties may, at any time and from time to time, without
notice or demand, and without affecting the enforceability or continuing effectiveness hereof: (a) amend, extend, renew, compromise,
discharge, accelerate or otherwise change the time for payment or the terms of the Secured Obligations or any part thereof; (b) take,
hold, exchange, enforce, waive, release, fail to perfect, sell, or otherwise dispose of any security for the payment of this Guaranty
or any Secured Obligations; (c) apply such security and direct the order or manner of sale thereof as the Administrative Agent,
the L/C Issuer and the Lenders in their sole discretion may determine; and (d) release or substitute one or more of any endorsers
or other guarantors of any of the Secured Obligations. Without limiting the generality of the foregoing, each Guarantor consents to the
taking of, or failure to take, any action which might in any manner or to any extent vary the risks of such Guarantor under this Guaranty
or which, but for this provision, might operate as a discharge of such Guarantor.

 

10.03      Certain
Waivers. Each Guarantor waives (a) any defense arising by reason of any disability or other defense of the Borrower
or any other guarantor, or the cessation from any cause whatsoever (including any act or omission of any Secured Party) of the liability
of the Borrower or any other Loan Party; (b) any defense based on any claim that such Guarantor’s obligations exceed or are
more burdensome than those of the Borrower or any other Loan Party; (c) the benefit of any statute of limitations affecting any
Guarantor’s liability hereunder; (d) any right to proceed against the Borrower or any other Loan Party, proceed against or
exhaust any security for the Secured Obligations, or pursue any other remedy in the power of any Secured Party whatsoever; (e) any
benefit of and any right to participate in any security now or hereafter held by any Secured Party; and (f) to the fullest extent
permitted by law, any and all other defenses or benefits that may be derived from or afforded by Applicable Law limiting the liability
of or exonerating guarantors or sureties. Each Guarantor expressly waives all setoffs and counterclaims and all presentments, demands
for payment or performance, notices of nonpayment or nonperformance, protests, notices of protest, notices of dishonor and all other
notices or demands of any kind or nature whatsoever with respect to the Secured Obligations, and all notices of acceptance of this Guaranty
or of the existence, creation or incurrence of new or additional Secured Obligations, including but not limited to the benefits of Chapter
34 of the Texas Business and Commerce Code, §17.01 of the Texas Civil Practice and Remedies Code, and Rule 31 of the Texas
Rules of Civil Procedure, or any similar statute.

 

10.04      Obligations
Independent. The obligations of each Guarantor hereunder are those of primary obligor, and not merely as surety, and are
independent of the Secured Obligations and the obligations of any other Guarantor, and a separate action may be brought against each
Guarantor to enforce this Guaranty whether or not the Borrower or any other person or entity is joined as a party.

 

10.05      Subrogation.
No Guarantor shall exercise any right of subrogation, contribution, indemnity, reimbursement or similar rights with respect to any payments
it makes under this Guaranty until all of the Secured Obligations and any amounts payable under this Guaranty have been indefeasibly
paid and performed in full and the Commitments and the Facilities are terminated. If any amounts are paid to a Guarantor in violation
of the foregoing limitation, then such amounts shall be held in trust for the benefit of the Secured Parties and shall forthwith be paid
to the Secured Parties to reduce the amount of the Secured Obligations, whether matured or unmatured.

 

    140 

     

    

 

10.06      Termination;
Reinstatement. This Guaranty is a continuing and irrevocable guaranty of all Secured Obligations now or hereafter existing
and shall remain in full force and effect until the Facility Termination Date. Notwithstanding the foregoing, this Guaranty shall continue
in full force and effect or be revived, as the case may be, if any payment by or on behalf of the Borrower or a Guarantor is made, or
any of the Secured Parties exercises its right of setoff, in respect of the Secured Obligations and such payment or the proceeds of such
setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant
to any settlement entered into by any of the Secured Parties in their discretion) to be repaid to a trustee, receiver or any other party,
in connection with any proceeding under any Debtor Relief Laws or otherwise, all as if such payment had not been made or such setoff
had not occurred and whether or not the Secured Parties are in possession of or have released this Guaranty and regardless of any prior
revocation, rescission, termination or reduction. The obligations of each Guarantor under this Section 10.06 shall survive
termination of this Guaranty.

 

10.07      Stay
of Acceleration. If acceleration of the time for payment of any of the Secured Obligations is stayed, in connection with
any case commenced by or against a Guarantor or the Borrower under any Debtor Relief Laws, or otherwise, all such amounts shall nonetheless
be payable by each Guarantor, jointly and severally, immediately upon demand by the Secured Parties.

 

10.08      Condition
of Borrower. Each Guarantor acknowledges and agrees that it has the sole responsibility for, and has adequate means of,
obtaining from the Borrower and any other guarantor such information concerning the financial condition, business and operations of the
Borrower and any such other Guarantor as such Guarantor requires, and that none of the Secured Parties has any duty, and such Guarantor
is not relying on the Secured Parties at any time, to disclose to it any information relating to the business, operations or financial
condition of the Borrower or any other Guarantor (each Guarantor waiving any duty on the part of the Secured Parties to disclose such
information and any defense relating to the failure to provide the same).

 

10.09      Appointment
of Holdings. Each of the Loan Parties hereby appoints Holdings to act as its agent for all purposes of this Agreement,
the other Loan Documents and all other documents and electronic platforms entered into in connection herewith and agrees that (a) Holdings
may execute such documents and provide such authorizations on behalf of such Loan Parties as Holdings deems appropriate in its sole discretion
and each Loan Party shall be obligated by all of the terms of any such document and/or authorization executed on its behalf, (b) any
notice or communication delivered by the Administrative Agent, L/C Issuer or a Lender to Holdings shall be deemed delivered to each Loan
Party and (c) the Administrative Agent, L/C Issuer or the Lenders may accept, and be permitted to rely on, any document, authorization,
instrument or agreement executed by Holdings on behalf of each of the Loan Parties.

 

    141 

     

    

 

10.10      Right
of Contribution. The Guarantors agree among themselves that, in connection with
payments made hereunder, each Guarantor shall have contribution rights against the other Guarantors as permitted under Applicable Law.

 

10.11      Keepwell.
Each Loan Party that is a Qualified ECP Guarantor at the time the Guaranty or the grant of a Lien under the Loan Documents, in each case,
by any Specified Loan Party becomes effective with respect to any Swap Obligation, hereby jointly and severally, absolutely, unconditionally
and irrevocably undertakes to provide such funds or other support to each Specified Loan Party with respect to such Swap Obligation as
may be needed by such Specified Loan Party from time to time to honor all of its obligations under the Loan Documents in respect of such
Swap Obligation (but, in each case, only up to the maximum amount of such liability that can be hereby incurred without rendering such
Qualified ECP Guarantor’s obligations and undertakings under this Article X voidable under Applicable Law relating
to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations and undertakings of each Qualified
ECP Guarantor under this Section 10.11 shall remain in full force and effect until the Secured Obligations have been indefeasibly
paid and performed in full. Each Loan Party intends this Section 10.11 to constitute, and this Section 10.11
shall be deemed to constitute, a Guarantee of the obligations of, and a “keepwell, support, or other agreement” for the benefit
of, each Specified Loan Party for all purposes of the Commodity Exchange Act.

 

Article XI

 

MISCELLANEOUS

 

11.01      Amendments,
Etc.

 

(a)            Subject
to Section 3.03(c) and the last paragraph of this Section 11.01, no amendment or waiver of any provision
of this Agreement or any other Loan Document, and no consent to any departure by the Borrower or any other Loan Party therefrom, shall
be effective unless in writing signed by the Required Lenders (or by the Administrative Agent with the consent of the Required Lenders)
and the Borrower or the applicable Loan Party, as the case may be, and acknowledged by the Administrative Agent, and each such waiver
or consent shall be effective only in the specific instance and for the specific purpose for which given; provided, however,
that no such amendment, waiver or consent shall:

 

(i)            waive
any condition set forth in Section 4.01 or, in the case of the initial Credit Extension, Section 4.02 without
the written consent of each Lender;

 

(ii)           extend
or increase the Commitment of any Lender (or reinstate any Commitment terminated pursuant to Section 8.02) without the written
consent of such Lender (it being understood and agreed that a waiver of any condition precedent in Section 4.02 or of any
Default or a mandatory reduction in Commitments is not considered an extension or increase in Commitments of any Lender);

 

(iii)          postpone
any date fixed by this Agreement or any other Loan Document for any payment (excluding mandatory prepayments) of principal, interest,
fees or other amounts due to the Lenders (or any of them) hereunder or under such other Loan Document without the written consent of
each Lender entitled to such payment;

 

    142 

     

    

 

(iv)          reduce
the principal of, or the rate of interest specified herein on, any Loan or L/C Borrowing, or (subject to clause (D) of the
second proviso to this Section 11.01) any fees or other amounts payable hereunder or under any other Loan Document without
the written consent of each Lender entitled to such amount; provided, however, that only the consent of the Required Lenders
shall be necessary (i) to amend the definition of “Default Rate” or to waive any obligation of the Borrower to pay interest
or Letter of Credit Fees at the Default Rate or (ii) to amend any financial covenant hereunder (or any defined term used therein)
even if the effect of such amendment would be to reduce the rate of interest on any Loan or L/C Borrowing or to reduce any fee payable
hereunder;

 

(v)           change
(i) Section 8.03 or Section 2.13 in a manner that would alter the pro rata sharing of payments required
thereby without the written consent of each Lender;

 

(vi)          change
any provision of this Section 11.01 or the definition of “Required Lenders”, “Required
Class Lenders” or any other provision of any Loan Document specifying the number or percentage of Lenders required
to amend, waive or otherwise modify any rights hereunder or thereunder or make any determination or grant any consent hereunder,
without the written consent of each Lender;

 

(vii)         release
all or substantially all of the Collateral in any transaction or series of related transactions, without the written consent of each
Lender;

 

(viii)        release
all or substantially all of the value of the Guaranty, without the written consent of each Lender, except to the extent the release of
any Subsidiary from the Guaranty is permitted pursuant to Section 9.10 (in which case such release may be made by the Administrative
Agent acting alone);

 

(ix)           release
the Borrower or permit the Borrower to assign or transfer any of its rights or obligations under this Agreement or the other Loan Documents
without the consent of each Lender;

 

(x)            directly
and materially adversely affect the rights of Lenders holding Commitments or Loans of one Class differently from the rights of Lenders
holding Commitments or Loans of any other Class without the written consent of the applicable Required Class Lenders; or

 

(xi)           contractually
subordinate the Obligations (including any guarantee thereof), or the Liens on all or substantially all of the Collateral granted under
the Loan Documents, to any other Indebtedness or Lien (including, without limitation, any other Indebtedness or Lien issued under the
Credit Agreement or any other agreement), in each case, without the written consent of all Lenders;

 

    143 

     

    

 

and provided, further,
that (A) no amendment, waiver or consent shall, unless in writing and signed by the L/C Issuer in addition to the Lenders required
above, affect the rights or duties of the L/C Issuer under this Agreement or any Issuer Document relating to any Letter of Credit issued
or to be issued by it; (B) no amendment, waiver or consent shall, unless in writing and signed by the Swingline Lender in addition
to the Lenders required above, affect the rights or duties of the Swingline Lender under this Agreement; (C) no amendment, waiver
or consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders required above, affect the rights
or duties of the Administrative Agent under this Agreement or any other Loan Document; and (D) the Fee Letter may be amended, or
rights or privileges thereunder waived, in a writing executed only by the parties thereto.

 

(b)           Notwithstanding
anything to the contrary herein, (i) 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 (A) the
Commitment of any Defaulting Lender may not be increased or extended without the consent of such Lender and (B) any waiver,
amendment or modification requiring the consent of all Lenders or each affected Lender, that by its terms affects any Defaulting
Lender disproportionately adversely relative to other affected Lenders shall require the consent of such Defaulting Lender;
(ii) each Lender is entitled to vote as such Lender sees fit on any bankruptcy reorganization plan that affects the Loans, and
each Lender acknowledges that the provisions of Section 1126(c) of the Bankruptcy Code of the United States supersedes the
unanimous consent provisions set forth herein and (iii) the Required Lenders shall determine whether or not to allow a Loan
Party to use Cash Collateral in the context of a bankruptcy or insolvency proceeding and such determination shall be binding on all
of the Lenders.

 

(c)           Notwithstanding
anything to the contrary herein, this Agreement may be amended and restated without the consent of any Lender (but with the consent of
the Borrower and the Administrative Agent) if, upon giving effect to such amendment and restatement, such Lender shall no longer be a
party to this Agreement (as so amended and restated), the Commitments of such Lender shall have terminated, such Lender shall have no
other commitment or other obligation hereunder and shall have been paid in full all principal, interest and other amounts owing to it
or accrued for its account under this Agreement.

 

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

 

    144 

     

    

 

 

(e)            Notwithstanding
any provision herein to the contrary, this Agreement may be amended pursuant to an Incremental Amendment to implement any additional
Class of Incremental Commitments in accordance with Section 2.16 as necessary or appropriate, as reasonably determined by (and
the Lenders hereby authorize the Administrative Agent to enter into any such Incremental Amendment), the Administrative Agent and the
Borrower and such Incremental Amendment shall be effective to amend the terms of this Agreement and the other applicable Loan Documents,
in each case, without any further action or consent of any other party to any Loan Document.

 

11.02      Notices;
Effectiveness; Electronic Communications.

 

(a)           Notices
Generally. Except in the case of notices and other communications expressly permitted to be given by telephone (and except as
provided in clause (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 fax transmission or
e-mail transmission 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 any other Loan Party, the Administrative Agent, the L/C Issuer or the Swingline Lender, to the address, fax number,
e-mail address or telephone number specified for such Person on Schedule 1.01(a); and

 

(ii)            if
to any other Lender, to the address, fax number, e-mail address or telephone number specified in its Administrative Questionnaire (including,
as appropriate, notices delivered solely to the Person designated by a Lender on its Administrative Questionnaire then in effect for
the delivery of notices that may contain material non-public information relating to the Borrower).

 

Notices and other
communications sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given
when received; notices and other communications sent by fax transmission shall be deemed to have been given when sent (except that, if
not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next Business
Day for the recipient). Notices and other communications delivered through electronic communications to the extent provided in clause
(b) below shall be effective as provided in such clause (b).

 

(b)           Electronic
Communications.

 

(i)            Notices
and other communications to the Administrative Agent, the Lenders, the Swingline Lender and the L/C Issuer hereunder may be delivered
or furnished by electronic communication (including e-mail, FPML messaging, and Internet or intranet websites) pursuant procedures approved
by the Administrative Agent in its reasonable discretion; provided that the foregoing shall not apply to notices to any Lender,
the Swingline Lender or the L/C Issuer pursuant to Article II if such Lender, the Swingline Lender or the L/C Issuer, as
applicable, has notified the Administrative Agent that it is incapable of receiving notices under such Article II by electronic
communication. The Administrative Agent, the Swingline Lender, the L/C Issuer or the Borrower may each, 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.

 

    145 

     

    

 

(ii)            Unless
the Administrative Agent otherwise prescribes, (A) notices and other communications sent to an e-mail address shall be deemed received
upon the sender’s receipt of an acknowledgment from the intended recipient (such as by the “return receipt requested”
function, as available, return e-mail or other written acknowledgement) and (B) notices and other communications posted to
an Internet or intranet website shall be deemed received by the intended recipient 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 address or other
written acknowledgement) indicating that such notice or communication is available and identifying the website address therefor; provided
that for both clauses (A) and (B), if such notice or other communication is not sent during the normal business
hours of the recipient, such notice, email or communication shall be deemed to have been sent at the opening of business on the next
Business Day for the recipient.

 

(c)            The
Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT PARTIES (AS DEFINED BELOW)
DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY
FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY
WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER
CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative
Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to the Borrower,
any Lender, the L/C Issuer or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract
or otherwise) arising out of the Borrower’s, any Loan Party’s or the Administrative Agent’s transmission of Borrower
Materials or notices through the Platform, any other electronic platform or electronic messaging service, or through the Internet.

 

    146 

     

    

 

(d)            Change
of Address, Etc. Each of Borrower, the Administrative Agent, the L/C Issuer and the Swingline Lender may change its address, fax
number or telephone number or e-mail address for notices and other communications hereunder by notice to the other parties hereto. Each
other Lender may change its address, fax number or telephone number or e-mail address for notices and other communications hereunder
by notice to the Borrower, the Administrative Agent, the L/C Issuer and the Swingline Lender. In addition, each Lender agrees to notify
the Administrative Agent from time to time to ensure that the Administrative Agent has on record (i) an effective address, contact
name, telephone number, fax number and e-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 (1) 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, L/C Issuer and Lenders. The Administrative Agent, the L/C Issuer and the Lenders shall be entitled to rely
and act upon any notices (including, without limitation, telephonic or electronic notices, Loan Notices, Letter of Credit Applications,
Notice of Loan Prepayment and Swingline Loan Notices) purportedly given by or on behalf of any Loan Party 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 Loan Parties shall indemnify
the Administrative Agent, the L/C Issuer, 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 a Loan Party. 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.

 

11.03      No
Waiver; Cumulative Remedies; Enforcement.

 

(a)           No
failure by any Lender, the L/C Issuer or the Administrative Agent to exercise, and no delay by any such Person in exercising, any right,
remedy, power or privilege hereunder or under any other Loan Document shall operate as a waiver thereof; nor shall any single or partial
exercise of any right, remedy, power or privilege hereunder or under any other Loan Document preclude any other or further exercise thereof
or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided, and provided
under each other Loan Document, are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law.

 

    147 

     

    

 

(b)           Notwithstanding
anything to the contrary contained herein or in any other Loan Document, the authority to enforce rights and remedies hereunder and
under the other Loan Documents against the Loan Parties or any of them shall be vested exclusively in, and all actions and
proceedings at law in connection with such enforcement shall be instituted and maintained exclusively by, the Administrative Agent
in accordance with Section 8.02 for the benefit of all the Lenders and the L/C Issuer; provided, however,
that the foregoing shall not prohibit (a) the Administrative Agent from exercising on its own behalf the rights and remedies
that inure to its benefit (solely in its capacity as Administrative Agent) hereunder and under the other Loan Documents,
(b) the L/C Issuer or the Swingline Lender from exercising the rights and remedies that inure to its benefit (solely in its
capacity as L/C Issuer or Swingline Lender, as the case may be) hereunder and under the other Loan Documents, (c) any Lender
from exercising setoff rights in accordance with Section 11.08 (subject to the terms of Section 2.13), or
(d) any Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the pendency of a
proceeding relative to any Loan Party under any Debtor Relief Law; and provided, further, that if at any time
there is no Person acting as Administrative Agent hereunder and under the other Loan Documents, then (i) the Required Lenders
shall have the rights otherwise ascribed to the Administrative Agent pursuant to Section 8.02 and (ii) in
addition to the matters set forth in clauses (b), (c) and (d) of the preceding proviso and subject to Section 2.13,
any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and as authorized by the
Required Lenders.

 

11.04      Expenses;
Indemnity; Damage Waiver.

 

(a)            Costs
and Expenses. The Loan Parties shall pay (i) all reasonable out-of-pocket expenses incurred by the Administrative Agent and
its Affiliates (including, but not limited to, (A) the reasonable fees, charges and disbursements of counsel for the Administrative
Agent and its Affiliates and (B) due diligence expenses), in connection with the syndication of the credit facilities provided for
herein, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents or any amendments,
modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be
consummated), (ii) all reasonable out-of-pocket expenses incurred by the L/C Issuer in connection with the issuance, amendment,
extension, reinstatement or renewal of any Letter of Credit or any demand for payment thereunder and (iii) all out-of-pocket expenses
incurred by the Administrative Agent, any Lender or the L/C Issuer (including the fees, charges and disbursements of any counsel for
the Administrative Agent, any Lender or the L/C Issuer), in connection with the enforcement or protection of its rights (A) in connection
with this Agreement and the other Loan Documents, including its rights under this Section 11.04, or (B) in connection
with Loans made or Letters of Credit issued hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring
or negotiations in respect of such Loans or Letters of Credit.

 

    148 

     

    

 

(b)            Indemnification
by the Loan Parties. The Loan Parties shall indemnify the Administrative Agent (and any sub-agent thereof), each Lender and the L/C
Issuer, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”)
against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses (including the
fees, charges and disbursements of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by
any Person (including the Borrower or any other Loan Party) arising out of, in connection with, or as a result of (i) the execution
or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance
by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby
or thereby, or, in the case of the Administrative Agent (and any sub-agent thereof) and its Related Parties only, the administration
of this Agreement and the other Loan Documents (including in respect of any matters addressed in Section 3.01), (ii) any
Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by the L/C Issuer to honor a demand
for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms
of such Letter of Credit), (iii) any actual or alleged presence or Release of Hazardous Materials on or from any property owned,
leased or operated by a Loan Party or any of its Subsidiaries, or any Environmental Liability related in any way to a Loan Party or any
of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing,
whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower or any other Loan Party, and
regardless of whether any Indemnitee is a party thereto, IN ALL CASES, WHETHER OR NOT CAUSED BY OR ARISING, IN
WHOLE OR IN PART, OUT OF THE COMPARATIVE, CONTRIBUTORY OR SOLE NEGLIGENCE OF THE INDEMNITEE; provided that such
indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are
determined by a court of competent jurisdiction by final and non-appealable judgment to have resulted from the gross negligence or willful
misconduct of such Indemnitee. Without limiting the provisions of Section 3.01(c), this Section 11.04(b) shall
not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim.

 

(c)            Reimbursement
by Lenders. To the extent that the Loan Parties for any reason fail to indefeasibly pay any amount required under clauses (a) or (b) of
this Section 11.04 to be paid by it to the Administrative Agent (or any sub-agent thereof), the L/C Issuer, the Swingline
Lender or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent),
the L/C Issuer, the Swingline Lender or such Related Party, as the case may be, such Lender’s pro rata share (determined as of
the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the Total Credit
Exposure at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender), such payment
to be made severally among them based on such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed
expense or indemnity payment is sought), provided that the unreimbursed expense or indemnified loss, claim, damage, liability
or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), the L/C
Issuer or the Swingline Lender in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative
Agent (or any such sub-agent), the L/C Issuer or the Swingline Lender in connection with such capacity. The obligations of the Lenders
under this clause (c) are subject to the provisions of Section 2.12(d).

 

    149 

     

    

 

(d)           Waiver
of Consequential Damages, Etc. To the fullest extent permitted by Applicable Law, no Loan Party shall assert, and each Loan
Party hereby waives, and acknowledges that no other Person shall have, any claim against any Indemnitee, on any theory of liability,
for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection
with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the
transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof. No Indemnitee referred
to in clause (b) above shall be liable for any damages arising from the use by unintended recipients of any
information or other materials distributed to such unintended recipients by such Indemnitee through telecommunications,
electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the
transactions contemplated hereby or thereby.

 

(e)            Payments.
All amounts due under this Section 11.04 shall be payable not later than ten (10) Business Days after demand therefor.

 

(f)            Survival.
The agreements in this Section 11.04 and the indemnity provisions of Section 11.02(e) shall survive the
resignation of the Administrative Agent, the L/C Issuer and the Swingline Lender, the replacement of any Lender, the termination of the
Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations.

 

11.05      Payments
Set Aside. To the extent that any payment by or on behalf of the Borrower is made to the Administrative Agent, the L/C
Issuer or any Lender, or the Administrative Agent, the L/C Issuer or any Lender exercises its right of setoff, and such payment or the
proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required
(including pursuant to any settlement entered into by the Administrative Agent, the L/C Issuer or such Lender in its discretion) to be
repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to
the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full
force and effect as if such payment had not been made or such setoff had not occurred, and (b) each Lender and the L/C Issuer severally
agrees to pay to the Administrative Agent upon demand its applicable share (without duplication) of any amount so recovered from or repaid
by the Administrative Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum
equal to the Federal Funds Rate from time to time in effect. The obligations of the Lenders and the L/C Issuer under clause (b) of
the preceding sentence shall survive the payment in full of the Obligations and the termination of this Agreement.

 

11.06      Successors
and Assigns.

 

(a)            Successors
and Assigns Generally. The provisions of this Agreement and the other Loan Documents shall be binding upon and inure to the
benefit of the parties hereto and thereto and their respective successors and assigns permitted hereby, except neither the Borrower
nor any other Loan Party may 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 Section 11.06(b), (ii) by way of
participation in accordance with the provisions of Section 11.06(d), or (iii) by way of pledge or assignment of a
security interest subject to the restrictions of Section 11.06(e) (and any other attempted assignment or transfer
by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer
upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent
provided in Section 11.06(d) and, to the extent expressly contemplated hereby, the Related Parties of each of the
Administrative Agent, the L/C Issuer and the Lenders) any legal or equitable right, remedy or claim under or by reason of this
Agreement.

 

    150 

     

    

 

(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 and the other Loan Documents (including all or a portion of its Commitment(s) and the Loans (including for purposes of
this clause (b), participations in L/C Obligations and in Swingline 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 assigning Lender’s Commitment and/or the Loans at the time owing
to it or contemporaneous assignments to related Approved Funds (determined after giving effect to such assignments) that equal at least
the amount specified in clause (b)(i)(B) of this Section 11.06 in the aggregate or in the case of an assignment
to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and

 

(B)            in
any case not described in clause (b)(i)(A) of this Section 11.06, the aggregate amount of the Commitment (which
for this purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, 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 $5,000,000, in the case of any assignment in respect of the Revolving Facility, or $1,000,000,
in the case of any assignment in respect of any Incremental Term Facility 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 and the other Loan Documents with respect to the Loans and/or the Commitment assigned,
except that (a) this clause (b)(ii) shall not apply to the Swingline Lender’s rights and
obligations in respect of Swingline Loans and (b) shall not prohibit any Lender from assigning all or a portion of its rights
and obligations in respect of its Revolving Commitment (and the related Revolving Loans thereunder) and its outstanding Incremental
Term Loans on a non-pro rata basis.

 

    151 

     

    

 

(iii)          Required
Consents. No consent shall be required for any assignment except to the extent required by clause (b)(i)(B) of this Section 11.06
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, an Affiliate of a Lender or
an Approved Fund; provided that the Borrower shall be deemed to have consented to any such assignment unless it shall object thereto
by written notice to the Administrative Agent within five (5) Business Days after having received notice thereof;

 

(B)            the
consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required for assignments in respect
of any Commitment if such assignment is to a Person that is not a Lender with a Commitment, an Affiliate of such Lender or an Approved
Fund with respect to such Lender; and

 

(C)            the
consent of the L/C Issuer and the Swingline Lender shall be required for any assignment in respect of the Revolving Facility.

 

(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.

 

(v)           No
Assignment to Certain Persons. No such assignment shall be made (A) to Holdings or any of Holding’s Affiliates or Subsidiaries,
(B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any
of the foregoing Persons described in this clause (B) or (C) to a natural Person (or a holding company, investment vehicle
or trust for, or owned and operated by or for the primary benefit of one or more natural Persons).

 

    152 

     

    

 

(vi)          Certain
Additional Payments. In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment
shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment
shall make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as appropriate
(which may be outright payment, purchases by the assignee of participations or sub-participations, or other compensating actions, including
funding, with the consent of the Borrower and the Administrative Agent, the applicable pro rata share of Loans previously requested but
not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (A) pay
and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent, the L/C Issuer or any Lender
hereunder (and interest accrued thereon) and (B) acquire (and fund as appropriate) its full pro rata share of all Loans and participations
in Letters of Credit and Swingline Loans in accordance with its Applicable Percentage. Notwithstanding the foregoing, in the event that
any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under Applicable Law without compliance
with the provisions of this clause (b)(vi), then the assignee of such interest shall be deemed to be a Defaulting Lender for all
purposes of this Agreement until such compliance occurs.

 

(vii)         Subject
to acceptance and recording thereof by the Administrative Agent pursuant to Section 11.06(c), 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 3.01,
3.04, 3.05 and 11.04 with respect to facts and circumstances occurring prior to the effective date of such assignment);
provided that, except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender
will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.
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 clause (b) shall be treated for purposes
of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 11.06(d).

 

(c)            Register.
The Administrative Agent, acting solely for this purpose as a non-fiduciary agent of the Borrower (and such agency being solely for
Tax purposes), shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it
(or the equivalent thereof in electronic form) and a register for the recordation of the names and addresses of the Lenders,
and the Commitments of, and principal amounts (and interest amounts) of the Loans and L/C Obligations owing to, each Lender pursuant
to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive,
absent manifest error, and the Borrower, the Administrative Agent and the Lenders shall treat each Person whose name is recorded in
the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement. The Register shall be available
for inspection by the Borrower and any Lender (with respect to such Lender’s interest only), at any reasonable time and from
time to time upon reasonable prior notice.

 

    153 

     

    

 

(d)           Participations.

 

(i)            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 a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of
one or more natural Persons, a Defaulting Lender or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a
“Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including
all or a portion of its Commitment and/or the Loans (including such Lender’s participations in L/C Obligations and/or Swingline
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, the Lenders and the L/C Issuer shall continue to deal solely and directly with such Lender in connection with
such Lender’s rights and obligations under this Agreement. For the avoidance of doubt, each Lender shall be responsible for the
indemnity under Section 11.04(c) without regard to the existence of any participations.

 

(ii)            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 the first proviso to Section 11.01 that affects such Participant.
The Borrower agrees that each Participant shall be entitled to the benefits of Sections 3.01, 3.04 and 3.05
(subject to the requirements and limitations therein, including the requirements under Section 3.01(e) (it being
understood that the documentation required under Section 3.01(e) shall be delivered to the Lender who sells the
participation)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to clause
(b) of this Section 11.06; provided that such Participant (A) shall be subject to the provisions of Sections
3.06 and 11.13 as if it were an assignee under clause (b) of this Section 11.06 and
(B) shall not be entitled to receive any greater payment under Sections 3.01 or 3.04, with respect to any
participation, than the Lender from whom it acquired the applicable participation would have been entitled to receive, except to the
extent such entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired the
applicable participation. Each Lender that sells a participation agrees, at the Borrower’s request and expense, to use
reasonable efforts to cooperate with the Borrower to effectuate the provisions of Section 3.06 with respect to any
Participant. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 11.08 as
though it were a Lender; provided that such Participant agrees to be subject to Section 2.13 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 interest amounts) of
each Participant’s interest in the Loans or other obligations under the Loan Documents (the “Participant
Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant
Register (including the identity of any Participant or any information relating to a Participant’s interest in any
commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the extent that such
disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under
Section 5f.103–1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be
conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the
owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of
doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant
Register.

 

    154 

     

    

 

(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 or Notes, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations
to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder
or substitute any such pledgee or assignee for such Lender as a party hereto.

 

(f)            Resignation
as L/C Issuer or Swingline Lender after Assignment. Notwithstanding anything to the contrary contained herein, if at any time
Bank of America assigns all of its Revolving Commitment and Revolving Loans pursuant to clause (b) above, Bank of
America may, (i) upon thirty (30) days’ notice to the Administrative Agent, the Borrower and the Lenders, resign as L/C
Issuer and/or (ii) upon thirty (30) days’ notice to the Borrower, resign as Swingline Lender. In the event of any such
resignation as L/C Issuer or Swingline Lender, the Borrower shall be entitled to appoint from among the Lenders a successor L/C
Issuer or Swingline Lender hereunder; provided, however, that no failure by the Borrower to appoint any such successor
shall affect the resignation of Bank of America as L/C Issuer or Swingline Lender, as the case may be. If Bank of America
resigns as L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all
Letters of Credit outstanding as of the effective date of its resignation as L/C Issuer and all L/C Obligations with respect thereto
(including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.03(c)).
If Bank of America resigns as Swingline Lender, it shall retain all the rights of the Swingline Lender provided for hereunder with
respect to Swingline Loans made by it and outstanding as of the effective date of such resignation, including the right to require
the Lenders to make Base Rate Loans or fund risk participations in outstanding Swingline Loans pursuant to Section 2.04(c).
Upon the appointment of a successor L/C Issuer and/or Swingline Lender, (A) such successor shall succeed to and become vested
with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swingline Lender, as the case may be, and
(B) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at
the time of such succession or make other arrangements satisfactory to Bank of America to effectively assume the obligations of Bank
of America with respect to such Letters of Credit.

 

    155 

     

    

 

11.07      Treatment
of Certain Information; Confidentiality.

 

(a)            Treatment
of Certain Information. Each of the Administrative Agent, the Lenders and the L/C Issuer agrees to maintain the confidentiality of
the Information (as defined below), except that Information may be disclosed (i) to its Affiliates, its auditors and its Related
Parties (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information
and instructed to keep such Information confidential), (ii) to the extent required or requested by any regulatory authority purporting
to have jurisdiction over such Person or its Related Parties (including any self-regulatory authority, such as the National Association
of Insurance Commissioners), (iii) to the extent required by Applicable Laws or regulations or by any subpoena or similar legal
process, (iv) to any other party hereto, (v) in connection with the exercise of any remedies hereunder or under any other Loan
Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or
thereunder, (vi) subject to an agreement containing provisions substantially the same as those of this Section 11.07,
to (A) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights and obligations under
this Agreement or any Eligible Assignee invited to be a Lender pursuant to Section 2.16(c) or (B) any actual or
prospective party (or its Related Parties) to any swap, derivative or other transaction under which payments are to be made by reference
to the Borrower and its obligations, this Agreement or payments hereunder, (vii) on a confidential basis to (A) any rating
agency in connection with rating the Borrower or its Subsidiaries or the credit facilities provided hereunder or (B) the provider
of any Platform or other electronic delivery service used by the Administrative Agent, the L/C Issuer and/or the Swingline Lender to
deliver Borrower Materials or notices to the Lenders or (viii) the CUSIP Service Bureau or any similar agency in connection with
the application, issuance, publishing and monitoring of CUSIP numbers or other market identifiers with respect to the credit facilities
provided hereunder, or (ix) with the consent of the Borrower or to the extent such Information (x) becomes publicly available
other than as a result of a breach of this Section 11.07, (xi) becomes available to the Administrative Agent, any Lender,
the L/C Issuer or any of their respective Affiliates on a nonconfidential basis from a source other than the Borrower or (xii) is
independently discovered or developed by a party hereto without utilizing any Information received from the Borrower or violating the
terms of this Section 11.07. For purposes of this Section 11.07, “Information” means
all information received from the Borrower or any Subsidiary relating to the Borrower or any Subsidiary or any of their respective businesses,
other than any such information that is available to the Administrative Agent, any Lender or the L/C Issuer on a nonconfidential basis
prior to disclosure by the Borrower or any Subsidiary, provided that, in the case of information received from the Borrower or
any Subsidiary after the Closing Date, such information is clearly identified at the time of delivery as confidential. Any Person required
to maintain the confidentiality of Information as provided in this Section 11.07 shall be considered to have complied with
its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such
Person would accord to its own confidential information. In addition, the Administrative Agent and the Lenders may disclose the existence
of this Agreement and information about this Agreement to market data collectors, similar service providers to the lending industry and
service providers to the Administrative Agent and the Lenders in connection with the administration of this Agreement, the other Loan
Documents and the Commitments.

 

    156 

     

    

 

 

(b)            Non-Public
Information. Each of the Administrative Agent, the Lenders and the L/C Issuer acknowledges that (i) the Information may include
material non-public information concerning a Loan Party or a Subsidiary, as the case may be, (ii) it has developed compliance procedures
regarding the use of material non-public information and (iii) it will handle such material non-public information in accordance
with Applicable Law, including United States federal and state securities Laws.

 

(c)            Press
Releases. The Loan Parties and their Affiliates agree that they will not in the future issue any press releases or other public disclosure
using the name of the Administrative Agent or any Lender or their respective Affiliates or referring to this Agreement or any of the
Loan Documents without the prior written consent of the Administrative Agent, unless (and only to the extent that) the Loan Parties or
such Affiliate is required to do so under law and then, in any event the Loan Parties or such Affiliate will consult with such Person
before issuing such press release or other public disclosure.

 

(d)            Customary
Advertising Material. The Loan Parties consent to the publication by the Administrative Agent or any Lender of customary advertising
material relating to the transactions contemplated hereby using the name, product photographs, logo or trademark of the Loan Parties.

 

11.08    Right
of Setoff. If an Event of Default shall have occurred and be continuing, each Lender, the L/C Issuer and each of
their respective Affiliates is hereby authorized at any time and from time to time, after obtaining the prior written consent of the
Administrative Agent 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, the L/C Issuer or any such Affiliate to or for the credit or the account of the Borrower or any
other Loan Party against any and all of the obligations of the Borrower or such Loan Party now or hereafter existing under this
Agreement or any other Loan Document to such Lender, the L/C Issuer or such Affiliates, irrespective of whether or not such Lender,
the L/C Issuer or Affiliate shall have made any demand under this Agreement or any other Loan Document and although such obligations
of the Borrower or such Loan Party may be contingent or unmatured, secured or unsecured, or are owed to a branch, office or
Affiliate of such Lender or the L/C Issuer 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, (a) all
amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the
provisions of Section 2.15 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, the L/C Issuer and the Lenders, and (b) the Defaulting
Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the Secured Obligations owing
to such Defaulting Lender as to which it exercised such right of setoff. The rights of each Lender, the L/C Issuer and their
respective Affiliates under this Section 11.08 are in addition to other rights and remedies (including other rights of
setoff) that such Lender, the L/C Issuer or their respective Affiliates may have under Applicable Law. Each Lender and the L/C
Issuer 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.

 

    157 

     

    

  

11.09   Interest
Rate Limitation. Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed
to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by Applicable Law (the
“Maximum Rate”). If the Administrative Agent or any Lender shall receive interest in an amount that exceeds the
Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded
to the Borrower. In determining whether the interest contracted for, charged, or received by the Administrative Agent or a Lender
exceeds the Maximum Rate, such Person may, to the extent permitted by Applicable Law, (a) characterize any payment that is not
principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and
(c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated
term of the Obligations hereunder.

 

11.10   Counterparts;
Integration; Effectiveness. This Agreement and each of the other Loan Documents may be executed in counterparts (and
by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken
together shall constitute a single contract. This Agreement, the other Loan Documents, and any separate letter agreements with
respect to fees payable to the Administrative Agent or the L/C Issuer, constitute the entire contract among the parties relating to
the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject
matter hereof. Except as provided in Section 4.01, this Agreement shall become effective when it shall have been
executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof that, when taken
together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature page of
this Agreement or any other Loan Document, or any certificate delivered thereunder, by fax transmission or e-mail transmission
(e.g., “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of
this Agreement or such other Loan Document or certificate. Without limiting the foregoing, to the extent a manually executed
counterpart is not specifically required to be delivered under the terms of any Loan Document, upon the request of any party, such
fax transmission or e-mail transmission shall be promptly followed by such manually executed counterpart.

 

11.11    Survival
of Representations and Warranties. All representations and warranties made hereunder and in any other Loan Document
or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and
delivery hereof and thereof. Such representations and warranties have been or will be relied upon by the Administrative Agent and
each Lender, regardless of any investigation made by the Administrative Agent or any Lender or on their behalf and notwithstanding
that the Administrative Agent or any Lender may have had notice or knowledge of any Default at the time of any Credit Extension, and
shall continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied or
any Letter of Credit shall remain outstanding.

 

    158 

     

    

  

11.12   Severability.
If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or unenforceable, (a) the
legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be
affected or impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or
unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal,
invalid or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. Without limiting the foregoing provisions of this Section 11.12,
if and to the extent that the enforceability of any provisions in this Agreement relating to Defaulting Lenders shall be limited by
Debtor Relief Laws, as determined in good faith by the Administrative Agent, the L/C Issuer or the Swingline Lender, as applicable,
then such provisions shall be deemed to be in effect only to the extent not so limited.

 

11.13    Replacement
of Lenders.

 

(a)            If
the Borrower is entitled to replace a Lender pursuant to the provisions of Section 3.06, or if any Lender is a Defaulting
Lender or a Non-Consenting Lender, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative
Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in,
and consents required by, Section 11.06), all of its interests, rights (other than its existing rights to payments pursuant
to Sections 3.01 and 3.04) and obligations under this Agreement and the related Loan Documents to an Eligible Assignee
that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment), provided that:

 

(i)            the
Borrower shall have paid to the Administrative Agent the assignment fee (if any) specified in Section 11.06(b);

 

(ii)            such
Lender shall have received payment of an amount equal to 100% of the outstanding principal of its Loans and L/C Advances, accrued interest
thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under Section 3.05)
from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other
amounts);

 

(iii)            in
the case of any such assignment resulting from a claim for compensation under Section 3.04 or payments required to be made
pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments thereafter;

 

(iv)            such
assignment does not conflict with Applicable Laws; and

  

(v)            in
the case of an assignment resulting from a Lender becoming a Non-Consenting Lender, the applicable assignee shall have consented to the
applicable amendment, waiver or consent.

 

    159 

     

    

  

(b)            A
Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise,
the circumstances entitling the Borrower to require such assignment and delegation cease to apply.

  

(c)            Each
party hereto agrees that (i) an assignment required pursuant to this Section 11.13 may be effected pursuant to an
Assignment and Assumption executed by the Borrower, the Administrative Agent and the assignee and (ii) the Lender required to
make such assignment need not be a party thereto in order for such assignment to be effective and shall be deemed to have consented
to an be bound by the terms thereof; provided that, following the effectiveness of any such assignment, the other
parties to such assignment agree to execute and deliver such documents necessary to evidence such assignment as reasonably
requested by the applicable Lender, provided further that any such documents shall be without recourse to or warranty by the
parties thereto. 

 

(d)            Notwithstanding
anything in this Section 11.13 to the contrary, (A) the Lender that acts as the L/C Issuer may not be replaced hereunder
at any time it has any Letter of Credit outstanding hereunder unless arrangements satisfactory to such Lender (including the furnishing
of a backstop standby letter of credit in form and substance, and issued by an issuer, reasonably satisfactory to the L/C Issuer or the
depositing of Cash Collateral into a Cash Collateral account in amounts and pursuant to arrangements reasonably satisfactory to the L/C
Issuer) have been made with respect to such outstanding Letter of Credit and (B) the Lender that acts as the Administrative Agent
may not be replaced hereunder except in accordance with the terms of Section 9.06.

 

11.14    Governing
Law; Jurisdiction; Etc.

 

(a)            GOVERNING
LAW. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (EXCEPT, AS TO ANY OTHER LOAN DOCUMENT, AS EXPRESSLY SET FORTH THEREIN) AND ANY
CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO
THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT (EXCEPT, AS TO ANY OTHER LOAN DOCUMENT, AS EXPRESSLY SET FORTH THEREIN) AND THE TRANSACTIONS
CONTEMPLATED HEREBY AND THEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

 

    160 

     

    

  

(b)            SUBMISSION
TO JURISDICTION. THE BORROWER AND EACH OTHER LOAN PARTY 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, THE L/C ISSUER, 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, 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, ANY LENDER OR the L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY
ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST THE BORROWER OR ANY OTHER LOAN PARTY OR ITS
PROPERTIES IN THE COURTS OF ANY JURISDICTION.

  

(c)            WAIVER
OF VENUE. THE BORROWER AND EACH OTHER LOAN PARTY 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 CLAUSE (b) OF THIS SECTION 11.14.
EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY 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 11.02.
NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.

 

11.15    Waiver
of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS
AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY
OTHER THEORY). EACH PARTY HERETO (a) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND
(b) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN
DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 11.15.

 

 

    161 

     

    

  

11.16     Subordination.
Each Loan Party (a “Subordinating Loan Party”) hereby subordinates the payment of all obligations and
indebtedness of any other Loan Party owing to it, whether now existing or hereafter arising, including but not limited to any
obligation of any such other Loan Party to the Subordinating Loan Party as subrogee of the Secured Parties or resulting from such
Subordinating Loan Party’s performance under this Guaranty, to the indefeasible payment in full in cash of all Obligations. If
the Secured Parties so request, any such obligation or indebtedness of any such other Loan Party to the Subordinating Loan Party
shall be enforced and performance received by the Subordinating Loan Party as trustee for the Secured Parties and the proceeds
thereof shall be paid over to the Secured Parties on account of the Secured Obligations, but without reducing or affecting in any
manner the liability of the Subordinating Loan Party under this Agreement. Without limitation of the foregoing, so long as no Event
of Default has occurred and is continuing, the Loan Parties may make and receive payments with respect to Intercompany Debt; provided
that, in the event that any Loan Party receives any payment of any Intercompany Debt at a time when such payment is prohibited by
this Section 11.16, such payment shall be held by such Loan Party, in trust for the benefit of, and shall be paid
forthwith over and delivered, upon written request, to the Administrative Agent.

 

11.17    No
Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated hereby
(including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrower and
each other Loan Party acknowledges and agrees, and acknowledges its Affiliates’ understanding, that: (a) (i) the
arranging and other services regarding this Agreement provided by the Administrative Agent, the Arrangers, Documentation Agents and
the Lenders and their respective Affiliates are arm’s-length commercial transactions between the Borrower, each other Loan
Party and their respective Affiliates, on the one hand, and the Administrative Agent, the Arrangers, Documentation Agents and the
Lenders and their respective Affiliates, on the other hand, (ii) each of the Borrower and the other Loan Parties has consulted
its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (iii) the Borrower and each
other Loan Party is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions
contemplated hereby and by the other Loan Documents; (b) (i) the Administrative Agent, the Arrangers, Documentation Agents
and each Lender and each of their respective Affiliates each is and has been acting solely as a principal and, except as expressly
agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary, for the
Borrower, any other Loan Party or any of their respective Affiliates, or any other Person and (ii) neither the Administrative
Agent, the Arrangers, Documentation Agents nor any Lender nor any of their respective Affiliates has any obligation to the Borrower,
any other Loan Party or any of their respective Affiliates with respect to the transactions contemplated hereby except those
obligations expressly set forth herein and in the other Loan Documents; and (c) the Administrative Agent, the Arrangers,
Documentation Agents and the Lenders and their respective Affiliates may be engaged in a broad range of transactions that involve
interests that differ from those of the Borrower, the other Loan Parties and their respective Affiliates, and neither the
Administrative Agent, the Arrangers, Documentation Agents, nor any Lender nor any of their respective Affiliates has any obligation
to disclose any of such interests to the Borrower, any other Loan Party or any of their respective Affiliates. To the fullest extent
permitted by law, each of the Borrower, and each other Loan Party hereby waives and releases any claims that it may have against the
Administrative Agent, the Arrangers, Documentation Agents, the Lenders and their respective Affiliates with respect to any breach or
alleged breach of agency or fiduciary duty in connection with any aspect of any transactions contemplated hereby.

  

    162 

     

    

 

11.18            Electronic
Execution; Electronic Records.

 

(a)            The
words “delivery,” “execute,” “execution,” “signed,” “signature,” and
words of like import in any Loan Document or any other document executed in connection herewith shall be deemed to include
electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the
Administrative Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or
enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the
case may be, to the extent and as provided for in any Applicable Law, including the Federal Electronic Signatures in Global and
National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the
Uniform Electronic Transactions Act; provided that notwithstanding anything contained herein to the contrary, neither
the Administrative Agent, the L/C Issuer nor any Lender is under any obligation to agree to accept electronic signatures in any form
or in any format unless expressly agreed to by the Administrative Agent, the L/C Issuer or such Lender pursuant to procedures
approved by it; provided, further, without limiting the foregoing, upon the request of any party, any electronic
signature shall be promptly followed by such manually executed counterpart. This Agreement and any document, amendment,
approval, consent, information, notice, certificate, request, statement, disclosure or authorization related to this Agreement (each
a “Communication”), including Communications required to be in writing, may, if agreed by the
Administrative Agent, be in the form of an Electronic Record and may be executed using Electronic Signatures, including, without
limitation, facsimile and/or .pdf. The Borrower agrees that any Electronic Signature (including, without limitation, facsimile or
..pdf) on or associated with any Communication shall be valid and binding on the Borrower to the same extent as a manual, original
signature, and that any Communication entered into by Electronic Signature, will constitute the legal, valid and binding obligation
of the Borrower enforceable against the Borrower in accordance with the terms thereof to the same extent as if a manually executed
original signature was delivered to the Administrative Agent. Any Communication may be executed in as many counterparts as necessary
or convenient, including both paper and electronic counterparts, but all such counterparts are one and the same Communication. For
the avoidance of doubt, the authorization under this paragraph may include, without limitation, use or acceptance by the
Administrative Agent and each of the Secured Parties of a manually signed paper Communication which has been converted into
electronic form (such as scanned into PDF format), or an electronically signed Communication converted into another format, for
transmission, delivery and/or retention. The Administrative Agent and each of the Secured Parties may, at its option, create
one or more copies of any Communication in the form of an imaged Electronic Record (“Electronic Copy”),
which shall be deemed created in the ordinary course of such Person’s business, and destroy the original paper document. All
Communications in the form of an Electronic Record, including an Electronic Copy, shall be considered an original for all purposes,
and shall have the same legal effect, validity and enforceability as a paper record. Notwithstanding anything contained herein to
the contrary, the Administrative Agent is under no obligation to accept an Electronic Signature in any form or in any format unless
expressly agreed to by the Administrative Agent pursuant to procedures approved by it; provided, further, without limiting the
foregoing, (a) to the extent the Administrative Agent has agreed to accept such Electronic Signature, the Administrative Agent
and each of the Secured Parties shall be entitled to rely on any such Electronic Signature purportedly given by or on behalf of any
Loan Party without further verification and (b) upon the request of the Administrative Agent or any Lender, any Electronic
Signature shall be promptly followed by a manually executed, original counterpart. For purposes hereof, “Electronic
Record” and “Electronic Signature” shall have the meanings assigned to them, respectively, by 15 USC §7006,
as it may be amended from time to time.

 

    163 

     

    

  

(b)            The
Borrower hereby acknowledges the receipt of a copy of this Agreement and all other Loan Documents. The Administrative Agent and each
Lender may, on behalf of the Borrower, create a microfilm or optical disk or other electronic image of this Agreement and any or all
of the other Loan Documents. The Administrative Agent and each Lender may store the electronic image of this Agreement and the other
Loan Documents in its electronic form and then destroy the paper original as part of the Administrative Agent’s and each Lender’s
normal business practices, with the electronic image deemed to be an original and of the same legal effect, validity and enforceability
as the paper originals.

 

11.19    USA
Patriot Act Notice. Each Lender that is subject to the Patriot Act and the Administrative Agent (for itself and not
on behalf of any Lender) hereby notifies the Borrower and the other Loan Parties that pursuant to the requirements of the USA
PATRIOT Act (Title III of Pub. L. 107–56 (signed into law October 26, 2001)) (the “Patriot Act”), it
is required to obtain, verify and record information that identifies the Borrower and each other Loan Party, which information
includes the name and address of the Borrower and each other Loan Party and other information that will allow such Lender or the
Administrative Agent, as applicable, to identify the Borrower and each other Loan Party in accordance with the Patriot Act. The
Borrower and each other Loan Party shall, promptly following a request by the Administrative Agent or any Lender, provide all such
other documentation and information that the Administrative Agent or such Lender requests in order to comply with its ongoing
obligations under applicable “know your customer” and anti-money laundering rules and regulations, including the
Patriot Act.

 

11.20    Acknowledgement
and Consent to Bail-In of Affected Financial Institutions. Solely to the extent any Lender or L/C Issuer that is an
EEA Financial Institution is a party to this Agreement and notwithstanding anything to the contrary in any Loan Document or in any
other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any
Lender or L/C Issuer that is an 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:

 

    164 

     

    

  

(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 Lender or L/C Issuer that is an Affected Financial Institution; and

  

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

 

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

 

(ii)            a
conversion of all, or a portion of, such liability into shares or other instruments of ownership in such Affected Financial Institution,
its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other
instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any
other Loan Document; or

 

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

 

11.21    Acknowledgement
Regarding Any Supported QFCs. To the extent that the Loan Documents provide support,
through a guarantee or otherwise, for any Swap Contract or any other agreement or instrument that is a QFC (such support,
“QFC Credit Support”, and each such QFC, a “Supported QFC”), the parties acknowledge and agree
as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act
and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder,
the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit Support (with the
provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to be governed by
the laws of the State of New York and/or of the United States or any other state of the United States): In the event a Covered
Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding under a U.S.
Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and
obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or
such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the
U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights
in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC
Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the
Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered
Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special
Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the
United States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect
to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit
Support.

 

    165 

     

    

  

11.22   Time
of the Essence. Time is of the essence of the Loan Documents.

  

11.23   Amendment
and Restatement; Ratification of Prior Liens and Loan Documents. The parties hereto agree
that: (a) this Agreement is intended to, and does hereby, restate, renew, extend, amend, modify, supersede and replace the Existing
Credit Agreement in its entirety; (b) the Obligations (as defined in this Agreement) represent, among other things, the restatement,
renewal, amendment, extension and modification of the “Obligations” (as defined in the Existing Credit Agreement); (c) the
entering into and performance of their respective obligations under the Loan Documents and the transactions evidenced hereby do not constitute
a novation nor shall they be deemed to have terminated, extinguished or discharged the indebtedness under the Existing Credit Agreement
and each of the other “Loan Documents” (as defined in the Existing Credit Agreement), all of which indebtedness shall continue
under and be governed by this Agreement and the other Loan Documents, (d) all liens and security interests created by, pursuant
to or in connection with the Existing Credit Agreement (including each of the “Collateral Documents,” each “Security
Agreement” and each other “Loan Document” each as defined in the Existing Credit Agreement) are hereby ratified and
confirmed and shall remain in full force and effect, and shall continue to secure full payment and performance of the Obligations (as
defined in this Agreement), without novation, discharge or interruption, except as expressly provided otherwise herein or in any other
Loan Document; and (e) all references to the Existing Credit Agreement contained in any Loan Document shall mean such agreement,
as amended and restated hereby.

 

11.24    Entire
Agreement. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG
THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE
ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK.]

 

    166 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the date first above written.

 

	BORROWER:	DIGITAL TURBINE, INC.
	 	DIGITAL TURBINE MEDIA, INC.
	 	DIGITAL TURBINE USA, INC.

 

	 	By:	 

	 	Name:	Barrett Garrison
	 	Title:	Chief Financial Officer

 

	GUARANTOR:	MOBILE POSSE, INC.

 

	 	By:	 

	 	Name:	Barrett Garrison
	 	Title:	Chief Financial Officer

  

[Signature Page to
Amended and Restated Credit Agreement]

 

     

     

    

 

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

 

	 	By:	 

	 	Name:	
	 	Title:	

   

[Signature Page to Amended and Restated
Credit Agreement]

 

     

     

    

 

 

		BANK OF AMERICA, N.A.,
	 	as a Lender, L/C Issuer and Swingline Lender

 

	 	By:	 

	 	Name:	
	 	Title:	

     

[Signature Page to Amended and Restated
Credit Agreement]

 

     

     

    

 

SCHEDULE 1

 

	2021 Revolving Lender	 	2021
    Revolving Commitment	 
	Bank of America, N.A.	 	$	37,500,000.00	 
	Wells Fargo Bank, N.A.	 	$	30,000,000.00	 
	PNC Bank, National Association	 	$	25,000,000.00	 
	Capital One, N.A.	 	$	15,000,000.00	 
	JPMorgan Chase Bank, N.A.	 	$	15,000,000.00	 
	BOKF N.A. dba Bank of Texas	 	$	2,500,000.00	 
	TOTAL:	 	$	125,000,000.00

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00338-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00338-of-00352.parquet"}]]