Document:

Exhibit 10.1

 

AMENDMENT
NO. 2 TO CREDIT AGREEMENT AND EXTENSION AGREEMENT

 

THIS
AMENDMENT NO. 2 TO CREDIT AGREEMENT AND EXTENSION AGREEMENT dated as of June 18, 2019 (this “Amendment”) is
entered into among Comcast Corporation, a Pennsylvania corporation (“Borrower”), the Lenders and Issuing Lenders
party hereto, and JPMorgan Chase Bank,
N.A., as Administrative Agent. All capitalized terms used herein and not otherwise defined herein shall have the meanings
given to such terms in the Credit Agreement (as defined below).

 

RECITALS

 

WHEREAS,
Borrower, the Lenders, the Issuing Lenders and the Administrative Agent entered into that certain Credit Agreement dated as of
May 26, 2016 (as amended pursuant to that certain Amendment No. 1 to Credit Agreement dated as of April 27, 2018, and as further
amended, restated, amended and restated, supplemented or otherwise modified from time to time prior to the Amendment No. 2 Effective
Date, the “Existing Credit Agreement”; the Existing Credit Agreement, as amended pursuant to this Amendment, the “Credit
Agreement”);

 

WHEREAS,
Borrower has requested that the Lenders, the Issuing Lenders and Administrative Agent amend the Existing Credit Agreement as set
forth below; and

 

WHEREAS,
pursuant to Section 2.01(e) of the Existing Credit Agreement, the Borrower has delivered written notice to the Administrative
Agent on June 3, 2019 (the “Notice Date”) requesting that the Revolving Commitments and the Letter of Credit
Commitments be extended for an additional one-year period following the Revolving Termination Date in effect on the Notice Date
(i.e., May 26, 2021) to the first anniversary of such Revolving Termination Date, such that the Extended Revolving Termination
Date under the Credit Agreement will be May 26, 2022;

 

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

 

1.       Amendment.
Each of the parties hereto agrees that, effective on the Amendment No. 2 Effective Date (as defined below), the Existing Credit
Agreement (including the exhibits and schedules thereto) shall be amended to delete the stricken text (indicated textually in
the same manner as the following example: stricken text) and to add the double-underlined
text (indicated textually in the same manner as the following example: double-underlined
text) as set forth in the pages of the Credit Agreement (and related exhibits and schedules) attached as Exhibit
A hereto.

 

2.       Extension.
Each of the parties hereto hereby irrevocably agrees to extend, effective as of the date hereof, all of its Revolving Commitments
and all of its Letter of Credit Commitments under the Credit Agreement, for an additional one-year period following the Revolving
Termination Date (i.e., May 26, 2021) to the first anniversary of such Revolving Termination Date, such that the Extended Revolving
Termination Date under the Credit Agreement shall be May 26, 2022.

 

3.       Conditions
Precedent. This Amendment shall be effective upon satisfaction of the following conditions precedent (the date such conditions
precedent are satisfied, the “Amendment No. 2 Effective Date”):

 

(a)       Receipt
by Administrative Agent of executed counterparts of this Amendment

 

     

     

    

(which
shall be originals, facsimile or pdf copies), executed and delivered by Borrower, Administrative Agent, each Lender and each Issuing
Lender, and acknowledged by each Guarantor (provided that the requirements of this clause (a) may be satisfied by customary
written evidence reasonably satisfactory to Administrative Agent (which may include electronic transmission of a signed signature
page) that such party has signed a counterpart to this Amendment).

 

Without
limiting the generality of the provisions of Section 10.01 of the Credit Agreement, for purposes of determining compliance with
the conditions specified in this Section 3, each Lender and each Issuing Lender that has signed or otherwise become a Lender
or Issuing Lender under this Amendment 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 and/or
Issuing Lender unless Administrative Agent shall have received notice from such Lender or Issuing Lender prior to the proposed
Amendment No. 2 Effective Date specifying its objection thereto. Administrative Agent (or its counsel) shall promptly notify the
Lenders, the Issuing Lenders and Borrower in writing of the occurrence of the Amendment No. 2 Effective Date, which shall be conclusive
evidence of the occurrence thereof (it being understood that any failure to so notify shall not preclude the occurrence of the
Amendment No. 2 Effective Date if all conditions to the occurrence thereof have been met). Notwithstanding anything to the contrary
in this Amendment, this Section 3 and the conditions set out in this Section 3 shall cease to apply and be of no further effect
on and from the Amendment No. 2 Effective Date.

 

		4.	Miscellaneous.

 

(a)       The
Existing Credit Agreement (as amended hereby), and the obligations of the Loan Parties thereunder and under the other Loan Documents,
are hereby ratified and confirmed and shall remain in full force and effect according to their terms. Except as expressly set
forth herein, this Amendment shall not be deemed to be an amendment or modification of any other provisions of the Existing Credit
Agreement or any other Loan Document or any right, power or remedy of the Lenders, nor constitute a waiver of any provision of
the Existing Credit Agreement, any other Loan Document, or any other document, instrument and/or agreement executed or delivered
in connection therewith or of any Default or Event of Default under any of the foregoing, in each case, whether arising before
or after the date hereof or as a result of performance hereunder or thereunder.

 

(b)       Each
Guarantor (a) acknowledges and consents to all of the terms and conditions of this Amendment, (b) affirms all of its obligations
under the Loan Documents and (c) agrees that this Amendment and all documents executed in connection herewith do not operate to
reduce or discharge its obligations under the Credit Agreement or the Loan Documents.

 

		(c)	Each
                                         Loan Party hereby represents and warrants as follows:

 

(i)       Each
Loan Party has taken all necessary corporate or limited liability company action to authorize the execution, delivery and performance
of this Amendment.

 

(ii)       This
Amendment has been duly executed and delivered by each of the Loan Parties and constitutes each of the Loan Parties’ legal,
valid and binding obligations, enforceable in accordance with its terms, except as such

 

    2 

     

    

enforceability
may be limited by Debtor Relief Laws and general principles of equity (regardless of whether such enforceability is considered
in a proceeding in equity or at law).

 

(iii)       No
consent, approval, authorization or order of, or filing, registration or qualification with, any Governmental Authority is required
in connection with the execution, delivery or performance by any Loan Party of this Amendment other than those that have already
been obtained and are in full force and effect or the failure of which to have obtained would not reasonably be expected to have
a Material Adverse Effect.

 

(iv)       No
Default or Event of Default has occurred and is continuing as of the date hereof.

 

(d)       This
Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but
all of which shall constitute one and the same instrument. Delivery of an executed counterpart of this Amendment by telecopy shall
be effective as an original and shall constitute a representation that an executed original shall be delivered.

 

(e)       THIS
AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER 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 AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

 

[remainder
of page intentionally left blank]

 

    3 

     

    

Each
of the parties hereto has caused a counterpart of this Amendment to be duly executed and delivered as of the date first above
written.

 

	 	COMCAST
    CORPORATION	 
	 	 	 	 
	 	 	 	 
	 		 
	 	By:	/s/ W. E. Dordelman	 
	 	Name:   	William E. Dordelman	 
	 	Title:     	Senior Vice President, Treasury and Treasury	 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	ACKNOWLEDGED
    AND AGREED:	 
	 	 	 	 
	 	JPMorgan
    Chase Bank, N.A., 	 
	 	as Administrative
    Agent, Lender and Issuing Lender	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Peter B. Thauer 	 
	 	Name:	Peter B. Thauer 	 
	 	Title:	Managing Director 	 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	Name of Lender and Issuing Lender:

                     

                    BANK OF AMERICA, N.A. 
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Brandon Bolio	 
	 	Name: 	Brandon Bolio	 
	 	Title:	Director	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	Name of Lender and Issuing Lender:

                     

                    CITIBANK, N.A.
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Michael Vondriska	 
	 	Name: 	Michael Vondriska	 
	 	Title:	Vice President	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	Name of Lender and Issuing Lender:

                     

                    MIZUHO BANK, LTD.
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Tracy Rahn	 
	 	Name: 	Tracy Rahn	 
	 	Title:	Authorized Signatory	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	Name of Lender and Issuing Lender:

                     

                    MORGAN STANLEY BANK, N.A.
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Michael King	 
	 	Name: 	Michael King	 
	 	Title:	Authorized Signatory	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	Name of Lender and Issuing Lender:

                     

                    MUFG Bank, Ltd.
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Dana L. McDougall	 
	 	Name: 	Dana L. McDougall	 
	 	Title:	Vice President	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	WELLS FARGO BANK, N.A.,

                    as Lender and Issuing Lender 

                    
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Nicholas J. Grocholski	 
	 	Name: 	Nicholas Grocholski	 
	 	Title:	Director	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	Name of Lender:

                     

                    BARCLAYS BANK PLC
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Martin Corrigan	 
	 	Name: 	Martin Corrigan	 
	 	Title:	Vice President	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	Name of Lender:

                     

                    BNP Paribas 
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ G. R. Paul	 
	 	Name: 	G. R. Paul	 
	 	Title:	Managing Director	 

 

	 	By:	/s/ Melissa Dykl	 
	 	Name: 	Melissa Dykl	 
	 	Title:	Director	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	Name of Lender:

                     

                    Commerzbank AG, NY Branch
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Neil Kiernan	 
	 	Name: 	Neil Kiernan	 
	 	Title:	Vice President	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	

                    

                    CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH

                    As a Lender 
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ William O’Daly	 
	 	Name: 	William O’Daly	 
	 	Title:	Authorized Signatory	 

 

 

	 	By:	/s/ D. Andrew Maletta	 
	 	Name: 	D. Andrew Maletta	 
	 	Title:	Authorized Signatory

        
	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	Name of Lender:

                     

                    DEUTSCHE BANK AG NEW YORK BRANCH
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Ming K. Chu	 
	 	Name: 	Ming K. Chu	 
	 	Title:	Director	 

 

 

	 	By:	/s/ Virginia Cosenza	 
	 	Name: 	Virginia Cosenza	 
	 	Title:	Vice President	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	ROYAL BANK OF CANADA, as a
                    Lender

                    
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ D.W. Scott Johnson	 
	 	Name: 	D. W. Scott Johnson	 
	 	Title:	Authorized Signatory	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	Name of Lender:

                     

                    BANCO SANTANDER, S.A., NEW YORK BRANCH
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Rita Walz-Cuccioli	 
	 	Name: 	Rita Walz-Cuccioli	 
	 	Title:	Executive Director	 

 

 

	 	By:	/s/ Terence Corcoran	 
	 	Name: 	Terence Corcoran	 
	 	Title:	Executive Director	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	Name of Lender:

                     

                    SUMITOMO MITSUI BANKING CORPORATION
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Michael Maguire	 
	 	Name: 	Michael Maguire	 
	 	Title:	Executive Director	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	Name of Lender:

                     

                    TORONTO DOMINION (TEXAS) LLC
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Peter Kuo	 
	 	Name: 	Peter Kuo	 
	 	Title:	Authorized Signatory	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	

                    GOLDMAN SACHS BANK USA, as
                    a Lender
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Ryan Durkin	 
	 	Name: 	Ryan Durkin	 
	 	Title:	Authorized Signatory	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	DNB CAPITAL LLC as a Lender
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Philip F. Kurpiewski	 
	 	Name: 	Philip F. Kurpiewski	 
	 	Title:	Senior Vice President	 

 

 

	 	By:	/s/ Kristie Li	 
	 	Name: 	Kristie Li	 
	 	Title:	Senior Vice President	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	Name of Lender:

                     

                    INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED,
                    NEW YORK BRANCH
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Yuanyuan Peng	 
	 	Name: 	Yuanyuan Peng	 
	 	Title:	Director	 

 

 

	 	By:	/s/ Dayi Liu	 
	 	Name: 	Dayi Liu	 
	 	Title:	Executive Director	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	Name of Lender:

                     

                    PNC BANK, NATIONAL ASSOCIATION
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Meredith Jermann	 
	 	Name: 	Meredith Jermann	 
	 	Title:	Vice President	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	U.S. BANK, NATIONAL ASSOCIATION
                    as a Lender 

                    
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Garret Komjathy	 
	 	Name: 	Garret Komjathy	 
	 	Title:	Senior Vice President	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	Name of Lender and Issuing Lender:

                     

                    THE BANK OF NEW YORK MELLON
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Rachael Dolinish	 
	 	Name: 	Rachael Dolinish	 
	 	Title:	Vice President	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	Name of Lender :

                     

                    SOCIETE GENERALE
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Shelley Yu	 
	 	Name: 	Shelley Yu	 
	 	Title:	Director	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	Name of Lender:

                     

                    AGRICULTURAL BANK OF CHINA LTD., NEW YORK BRANCH 
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Nelson Chou	 
	 	Name: 	Nelson Chou	 
	 	Title:	SVP & Head of Corporate Banking	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	Name of Lender:

                     

                    BANK OF CHINA, NEW YORK BRANCH
	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Raymond Qiao	 
	 	Name: 	Raymond Qiao	 
	 	Title:	Executive VIce President	 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

	 	ACKNOWLEDGED AND CONSENTED TO:	 
	 	 	 	 
	 	 	 	 
	 	Comcast Cable Communications, LLC	 
	 	 	 
	 	 	 
	 	 	 
	 	By:	/s/ William E. Dordelman	 
	 	 	Name:  William E. Dordelman	 
	 	 	Title:     Senior Vice President
    and Treasurer	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	NBCUniversal Media, LLC	 
	 	 	 
	 	 	 
	 	 	 
	 	By:	/s/ William E. Dordelman 	 
	 	 	Name:  William E. Dordelman	 
	 	 	Title:     Senior Vice President	 

 

 

    
[Signature Page to Amendment No. 2 to Credit Agreement]

     

    

Exhibit
A

 

[see
attached]

 

 

     

     

    

 

EXECUTION
VERSION

as amended pursuant to

Amendment
No. 1 to Credit Agreement dated as of April 27, 2018 and 

Amendment
No. 2 to Credit Agreement and Extension Agreement dated as of June 18, 2019

 

 

 

CREDIT AGREEMENT

 

among

 

COMCAST CORPORATION

 

The Financial
Institutions Party Hereto

 

JPMorgan
Chase Bank, N.A.,

as Administrative Agent

 

CITIBANK,
N.A.,

 

as Syndication
Agent

 

and

 

MORGAN STANLEY
MUFG LOAN PARTNERS, LLC,

WELLS FARGO
BANK, NATIONAL ASSOCIATION and

MIZUHO BANK,
LTD.,

as Co-Documentation Agents

 

Dated as
of May 26, 2016

 

 

 

JPMorgan
Chase Bank, N.A.,

CITIGROUP GLOBAL MARKETS INC.,

MORGAN STANLEY
MUFG LOAN PARTNERS, LLC,

WELLS FARGO
SECURITIES, LLC and

MIZUHO BANK,
LTD.,

as Joint Lead Arrangers and Joint Bookrunners

 

     

     

    

TABLE
OF CONTENTS

 

Page

 

	SECTION 1 DEFINITIONS AND ACCOUNTING
    TERMS	1

	1.01	Defined
    Terms	1
	1.02	Use of Certain Terms.	29
	1.03	Accounting Terms	29
	1.04	Rounding	30
	1.05	Exhibits and Schedules	30
	1.06	References to Agreements
    and Laws	30
	1.07	Pro Forma Calculations	30
	1.08	Interest
    Rates; LIBOR Notification	31

	SECTION 2 THE REVOLVING COMMITMENTS AND EXTENSIONS
    OF CREDIT	31

	2.01	Amount
    and Terms of Revolving Commitments	31
	2.02	Procedure for Revolving
    Loan Borrowings	3233
	2.03	Letters of Credit	3334
	2.04	Competitive Bid Procedure	38
	2.05	Reduction or Termination
    of Revolving Commitments	3940
	2.06	Prepayments	40
	2.07	Documentation of Loans	4041
	2.08	Continuation and Conversion
    Option	4142
	2.09	Interest	4142
	2.10	Fees	4243
	2.11	Computation of Interest
    and Fees	4243
	2.12	Making Payments	4243
	2.13	Funding Sources	44
	2.14	Defaulting Lenders	44
	2.15	Currency Equivalents	4546

	SECTION 3 TAXES, YIELD PROTECTION
    AND ILLEGALITY	46

	3.01	Taxes	46
	3.02	Illegality	4748
	3.03	Inability to Determine Eurodollar Rates	47
	 	Alternate Rate of Interest.	48
	3.04	Increased Cost and Reduced Return; Capital Adequacy	4849
	3.05	Breakfunding Costs	4951
	3.06	Matters Applicable to all Requests for Compensation	4951
	3.07	Survival	5051

	SECTION 4 CONDITIONS PRECEDENT TO EXTENSIONS
    OF CREDIT	5052

	4.01	Conditions
    Precedent to Effective Date	5052

    iv 

     

    

	4.02	Conditions
    to Certain Extensions of Credit	5153
	4.03	Conditions to Certain
    Funds Credit Extensions	5254
	4.04	Determinations Under
    Sections 4.01, 4.02 and 4.03	5254
	4.05	Actions by Lenders
    During Certain Funds Period	5254

	SECTION 5 REPRESENTATIONS AND WARRANTIES	5355

	5.01	Existence
    and Qualification; Power; Compliance with Laws	5355
	5.02	Power; Authorization;
    Enforceable Obligations	5355
	5.03	No Legal Bar	5455
	5.04	Financial Statements;
    No Material Adverse Effect	5456
	5.05	Litigation	5456
	5.06	Use of Proceeds	5456
	5.07	Anti-Corruption Laws
    and Sanctions	5456

	SECTION 6 AFFIRMATIVE COVENANTS	5556

	6.01	Financial
    Statements	5556
	6.02	Certificates, Notices
    and Other Information	5557
	6.03	Payment of Taxes	5658
	6.04	Preservation of Existence	5658
	6.05	Compliance With Laws	5658
	6.06	Inspection Rights	5658
	6.07	Keeping of Records
    and Books of Account	5658
	6.08	Designation of Unrestricted
    Subsidiaries	5658
	6.09	Anti-Corruption Laws
    and Sanctions	5759
	6.10	Guarantors	5759

	SECTION 7 NEGATIVE COVENANTS	5759

	7.01	Liens	5859
	7.02	Non-Guarantor Subsidiary
    Indebtedness	5960
	7.03	Fundamental Changes	5961
	7.04	ERISA	6061
	7.05	Anti-Corruption Laws
    and Sanctions	6061
	7.06	Financial Covenant	6062

	SECTION 8 EVENTS OF DEFAULT AND REMEDIES	6062

	8.01	Events
    of Default	6062
	8.02	Remedies Upon Event
    of Default	6163
	8.03	Clean-Up Period	6264

	SECTION 9 THE AGENTS	6365

	9.01	Appointment	6365

    v 

     

    

	9.02	Delegation
    of Duties	6365
	9.03	Exculpatory Provisions	6365
	9.04	Reliance by Administrative
    Agent	6465
	9.05	Notice of Default	6466
	9.06	Non-Reliance on Agents
    and Other Lenders	6466
	9.07	Indemnification	6566
	9.08	Agent in Its Individual
    Capacity	6567
	9.09	Successor Administrative
    Agent	6567
	9.10	Co-Documentation Agents
    and Syndication Agent	6667
	9.11	Certain ERISA Matters	6668

	SECTION 10 MISCELLANEOUS	6870

	10.01	Amendments;
    Consents	6870
	10.02	Requisite Notice;
    Electronic Communications	6971
	10.03	Attorney Costs and
    Expenses	7173
	10.04	Binding Effect; Assignment	7173
	10.05	Set-off	7375
	10.06	Sharing of Payments	7375
	10.07	No Waiver; Cumulative
    Remedies	7476
	10.08	Usury	7476
	10.09	Counterparts	7576
	10.10	Integration	7577
	10.11	Nature of Lenders’
    Obligations	7577
	10.12	Survival of Representations
    and Warranties	7577
	10.13	Indemnity by Borrower	7577
	10.14	Nonliability of Lenders	7678
	10.15	No Third Parties Benefitted	7779
	10.16	Severability	7779
	10.17	Confidentiality	7779
	10.18	Headings	7880
	10.19	Time of the Essence	7880
	10.20	Status of Lenders
    and Administrative Agent	7880
	10.21	Removal and Replacement
    of Lenders	7981
	10.22	Governing Law; Submission
    to Jurisdiction; Waivers	8082
	10.23	Waiver of Right to
    Trial by Jury	8183
	10.24	USA PATRIOT Act	8183
	10.25	Judgment Currency	8183
	10.26	Acknowledgement and
    Consent to Bail-In of EEA Financial Institutions	8283

    vi 

     

    

EXHIBITS

 

	A	Form
    of Guarantee Agreement
	B	Form
    of Request for Extension of Credit
	C	Form
    of Compliance Certificate
	D	Form
    of Assignment and Assumption 
	E-1	Form
    of New Lender Supplement 
	E-2	Form
    of Increased Revolving Commitment Activation Notice
	F-1	Form
    of U.S. Tax Compliance Certificate (For Non-U.S. Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)
	F-2	Form
    of U.S. Tax Compliance Certificate (For Non-U.S. Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes)
	F-3	Form
    of U.S. Tax Compliance Certificate (For Non-U.S. Participants That Are Partnerships For U.S. Federal Income Tax Purposes)
	F-4	Form
    of U.S. Tax Compliance Certificate (For Non-U.S. Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)

 

 

SCHEDULES

 

	A	Asset
    Monetization Transactions
	2.01	Revolving
    Commitments
	2.03	Letter
    of Credit Commitments; Issuers of Existing Letters of Credit
	6.08	Unrestricted
    Subsidiaries
	10.02	Addresses
    for Notices

 

    vii 

     

    

CREDIT AGREEMENT

 

This CREDIT AGREEMENT is entered into as of
May 26, 2016, by and among Comcast Corporation COMCAST
CORPORATION, a Pennsylvania corporation (“Borrower”), each lender from time to time party hereto (collectively,
“Lenders” and individually, a “Lender”), JPMORGAN CHASE BANK, N.A., as Administrative Agent, CITIBANK,
N.A., as syndication agent (in such capacity, “Syndication Agent”), and MORGAN STANLEY MUFG LOAN PARTNERS, LLC (acting
through Morgan Stanley Senior Funding, Inc. and MUFG Bank, Ltd. (f/k/a The Bank of Tokyo-Mitsubishi UFJ, Ltd.)),
WELLS FARGO BANK, NATIONAL ASSOCIATION and MIZUHO BANK, LTD., as co-documentation agents (in such capacity, “Co-Documentation
Agents”).

 

RECITALS

 

WHEREAS, Borrower has requested that
the Lenders, the Issuing Lenders and Administrative Agent provide the Revolving Facility (as defined below), and the Lenders, the
Issuing Lenders and Administrative Agent are willing to do so on the terms and conditions set forth herein; and

 

NOW, THEREFORE, in consideration
of the above premises, the parties hereto hereby agree as follows:

 

SECTION 1

 

DEFINITIONS AND ACCOUNTING TERMS

 

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

 

“ABR”,
when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, bear interest
at a rate determined by reference to the Alternate Base Rate.

 

“Acceptance Condition”
means, with respect to an Offer, the condition set forth in the Offer Documents with respect to the number of acceptances to an
Offer which must be secured to declare such Offer unconditional as to acceptances which shall be more than 50% of the Target shares
carrying voting rights.

 

“Acquisition”
means (a) any purchase or other acquisition of assets or series of related purchases or other acquisitions of assets by Borrower
or any Restricted Subsidiary (including by way of asset or stock purchase, swap or merger) other than from Borrower or any Restricted
Subsidiary or (b) the designation by Borrower of an Unrestricted Subsidiary as a Restricted Subsidiary.

 

“Acquisition Debt” means
any Indebtedness of Borrower or any of its Restricted Subsidiaries (or an Unrestricted Subsidiary, so long as, in the good faith
determination of Borrower, such Unrestricted Subsidiary is expected to become a Restricted Subsidiary in connection with the consummation
of the applicable Material Acquisition) that has been issued for the purpose of financing, in whole or in part, the Target Acquisition
or any other acquisition that is a Material Acquisition in accordance with clause (ii) of the definition thereof and any related
transactions or series of related transactions in respect of the Target Acquisition or any other acquisition that is a Material
Acquisition in accordance with clause (ii) of the definition thereof (including for the purpose of refinancing or replacing all
or a portion of any pre-existing Indebtedness of the Target Group or the Person(s) or assets to be acquired); provided that
(a) the release of the proceeds thereof to Borrower and its Restricted

 

 

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Subsidiaries (or an Unrestricted Subsidiary, so long as, in
the good faith determination of Borrower, such Unrestricted Subsidiary is expected to become a Restricted Subsidiary in connection
with the consummation of such Material Acquisition) is contingent upon the consummation of the Target Acquisition or such Material
Acquisition and, pending such release, such proceeds are held in escrow (and, if the definitive agreement (or, in the case of a
tender offer or similar transaction, the definitive offer document) for the Target Acquisition or such Material Acquisition is
terminated prior to the consummation thereof or if the Target Acquisition or such Material Acquisition is otherwise not consummated
by the date specified in the definitive documentation relating to such Indebtedness, such proceeds shall be promptly applied to
satisfy and discharge all obligations of Borrower and its Restricted Subsidiaries (or an Unrestricted Subsidiary, so long as, in
the good faith determination of Borrower, such Unrestricted Subsidiary is expected to become a Restricted Subsidiary in connection
with the consummation of such Material Acquisition) in respect of such Indebtedness) or (b) such Indebtedness contains a “special
mandatory redemption” provision (or other similar provision) or otherwise permits such Indebtedness to be redeemed or prepaid
if the Target Acquisition or such Material Acquisition is not consummated by the date specified in the definitive documentation
relating to such Indebtedness (and if the definitive agreement (or, in the case of a tender offer or similar transaction, the definitive
offer document) for the Target Acquisition or such Material Acquisition is terminated in accordance with its terms prior to the
consummation of the Target Acquisition or such Material Acquisition or the Target Acquisition or such Material Acquisition is otherwise
not consummated by the date specified in the definitive documentation relating to such Indebtedness, such Indebtedness is so redeemed
or prepaid within 90 days of such termination or such specified date, as the case may be).

 

“Adjusted
LIBO Rate” means, with respect to any Eurodollar
Rate Borrowing for any Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%)
equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate.

 

“Administrative Agent”
means JPMorgan Chase Bank, N.A., in its capacity as administrative agent under any of the Loan Documents, or any successor administrative
agent permitted under the Loan Documents; provided that for purposes of Borrowings, Continuations or Conversions denominated
in Canadian Dollars, Euros, Sterling or Yen, Administrative Agent shall be J.P. Morgan Europe Limited.

 

“Administrative Agent’s
Office” means Administrative Agent’s address and, as appropriate, account as Administrative Agent has designated by
written notice to Borrower and Lenders.

 

“Administrative Agent-Related
Persons” means Administrative Agent (including any successor agent), together with its Affiliates and the officers, directors,
employees, agents and attorneys-in-fact of such Persons and Affiliates.

 

“Administrative Questionnaire”
means, with respect to each Lender, an administrative questionnaire in the form prepared by Administrative Agent and submitted
to Administrative Agent (with a copy to Borrower) duly completed by such Lender.

 

“Affected Currency”
has the meaning set forth in Section 3.03(a).

 

“Affiliate” means, as
to any Person, any other Person that, directly or indirectly, is in Control of, is Controlled by, or is under direct or indirect
common Control with, such Person.

 

“Agents” means the collective
reference to Administrative Agent, Syndication Agent and Co-Documentation Agents.

 

 

 

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“Agent Parties” has the meaning set forth
in Section 10.02(e)(ii).

 

“Aggregate Exposure” means, with
respect to any Lender at any time, an amount equal to the amount of such Lender’s Revolving Commitment then in effect or,
if the Revolving Commitments have been terminated, the amount of such Lender’s Outstanding Revolving Obligations.

 

“Aggregate
Exposure Percentage” means, with respect to any Lender at any time, the ratio (expressed as a percentage) of such Lender’s
Aggregate Exposure at such time to the Aggregate Exposure of all Lenders at such time.

 

“Agreement” means this
Credit Agreement, as amended, restated, extended, supplemented or otherwise modified in writing from time to time.

 

“Agreement Currency” has the meaning set
forth in Section 10.25(b).

 

“Alternate Base
Rate” means, for any day, a rate per annum equal to the greatest
of (a) the Prime Rate in effect on such day, (b) the NYFRB Rate in effect on such day plus 1⁄2 of 1% and(c) the Adjusted
LIBO Rate for Dollars for a one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding
Business Day) plus 1%; provided that for the purpose of this definition, the Adjusted LIBO Rate for any day shall be based on
the LIBO Screen Rate (or if the LIBO Screen Rate is not available for such one month Interest Period, the Interpolated Rate) at
approximately 11:00 a.m. London time on such day. Any change in the Alternate Base Rate due to a change in the Prime Rate, the
NYFRB Rate or the Adjusted LIBO Rate shall be effective from and including the effective date of such change in the Prime Rate,
the NYFRB Rate or the Adjusted LIBO Rate, respectively. If the Alternate Base Rate is being used as an alternate rate of interest
pursuant to Section 3.03, then the Alternate Base Rate shall be the greater of clauses (a) and (b) above and shall be determined
without reference to clause (c) above. For the avoidance of doubt, if
the Alternate Base Rate as determined pursuant to the foregoing would be less than 0.00%, such rate shall
be deemed to be 0.00% for purposes of this Agreement.

 

“Alternative Currency”
means (x) with respect to any Letter of Credit, (a) Euros, (b) Yen, (c) Sterling, (d) Canadian Dollars and (e) any currency other
than Dollars, Euros, Yen, Sterling, or Canadian Dollars in which an Issuing Lender is willing to issue a Letter of Credit and (y)
with respect to any Loan, (a) Euros, (b) Yen, (c) Sterling, (d) Canadian Dollars and (e) any currency other than Dollars, Euros,
Yen, Sterling, or Canadian Dollars in which each Lender has agreed to make Loans.

 

“Amendment No. 1” means
that certain Amendment No. 1 to Credit Agreement dated as of the Amendment No. 1 Effective Date, by and among Borrower, the Lenders
party thereto and Administrative Agent.

 

“Amendment No. 1 Effective Date” means April
27, 2018.

 

“Amendment
No. 2” means that certain Amendment No. 2 to Credit Agreement and Extension Agreement dated as of the Amendment No. 2 Effective
Date, by and among Borrower, the Lenders party thereto and Administrative Agent.

 

“Amendment No. 2 Effective Date”
means June 18, 2019.

 

“Announcement Date” has the meaning set
forth in the definition of Certain Funds Period.

 

 

 

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“Annualized EBITDA” means,
at any date of determination, EBITDA for the two (2) fiscal quarter periods then most recently ended times two (2).

 

“Anti-Corruption Laws”
means all laws, rules, and regulations of any jurisdiction applicable to Borrower or any of its Subsidiaries from time to time
concerning or relating to bribery or corruption.

 

“Applicable Amount” means
the rate per annum, in basis points, set forth under the relevant column heading below based upon the applicable Debt Ratings:

 

	Pricing	Debt Ratings	Commitment	Alternate Base	Eurodollar Rate /
	Level	S&P/Moody’s	Fee	Rate	Letters of Credit
	1	≥A+/A1	5.0	0.0	75.0
	2	A/A2	7.0	0.0	87.5
	3	A-/A3	9.0	0.0	100.0
	4	BBB+/Baa1	11.0	12.5	112.5
	5	≤BBB/Baa2	15.0	25.0	125.0

 

As used in this definition, “Debt Rating”
means, as of any date of determination, the rating as determined by either S&P or Moody’s (collectively, the “Debt
Ratings”) of Borrower’s senior unsecured non-credit -enhanced long-term Indebtedness for borrowed money (the “Subject
Debt”); provided that, solely for purposes of determining the Applicable Amount, if a Debt Rating is issued by each
of S&P and Moody’s, then the higher of such Debt Ratings shall apply (with Pricing Level 1 being the highest and Pricing
Level 5 being the lowest), unless there is a split in Debt Ratings of more than one level, in which case the level that is one
level lower than the higher Debt Rating shall apply. The Debt Ratings shall be determined from the most recent public announcement
of any Debt Ratings or changes thereto. Any change in the Applicable Amount shall become effective on and as of the date of any
public announcement of any Debt Rating that indicates a different Applicable Amount. If the rating system of S&P or Moody’s
shall change, Borrower and Administrative Agent shall negotiate in good faith to amend this definition to reflect such changed
rating system and, pending the effectiveness of such amendment (which shall require the approval of Required Lenders), the Debt
Rating shall be determined by reference to the rating most recently in effect prior to such change. If and for so long as either
S&P or Moody’s (but not both) has ceased to rate the Subject Debt, then (x) if such rating agency has ceased to issue
debt ratings generally, or if Borrower has used commercially reasonable efforts to maintain ratings from both S&P and Moody’s,
the Debt Rating shall be deemed to be the Remaining Debt Rating and (y) otherwise, the Debt Rating shall be deemed to be one Pricing
Level below the Remaining Debt Rating. If and for so long as both S&P and Moody’s have ceased to rate the Subject Debt,
then (x) if S&P and Moody’s have ceased to issue debt ratings generally, the Debt Rating shall be the Debt Rating most
recently in effect prior to such event and (y) otherwise, the Debt Rating will be the Debt Rating at Pricing Level 5. For the purpose
of the foregoing, “Remaining Debt Rating” means, at any time that one of S&P or Moody’s, but not both, is
rating the Subject Debt, the rating assigned by such rating agency from time to time.

 

“Applicable
Payment Date” means, (a) as to any Eurodollar Rate Loan, the last day of the relevant Interest Period, any date that such
Loan is prepaid or Converted in whole or in part and the maturity date of such Loan; provided, however, that if any
Interest Period for a Eurodollar Rate Loan

 

 

 

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exceeds three months, interest shall also be paid
on the Business Day which falls every three months after the beginning of such Interest Period; (b) with respect to any Fixed
Rate Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a
Fixed Rate Loan with an Interest Period of more than 90 days’ duration (unless otherwise specified in the applicable
Competitive Bid Request), each day prior to the last day of such Interest Period that occurs at intervals of 90 days’
duration after the first day of such Interest Period, and any other dates that are specified in the applicable Competitive
Bid Request as Applicable Payment Dates with respect to such Borrowing; and (c) as to any other Obligations, the last
Business Day of each calendar quarter and the maturity date of such Obligation, except as otherwise provided herein.

 

“Applicable Time” means New York time.

 

“Asset Monetization Transactions”
has the meaning set forth in the definition of Consolidated Total Indebtedness.

 

“Assignment and Assumption”
means an Assignment and Assumption substantially in the form of Exhibit D or, to the extent applicable, an agreement (in form and
substance reasonably acceptable to Borrower) incorporating an Assignment and Assumption by reference pursuant to a Platform as
to which Administrative Agent and the parties to the Assignment and Assumption are participants.

 

“Attorney Costs” means
the reasonable and documented fees and disbursements of a law firm or other external counsel.

 

“Attributable Indebtedness” means,
with respect to any Sale-Leaseback Transaction, the present value (discounted at the rate set forth or implicit in the terms of
the lease included in such Sale-Leaseback Transaction) of the total obligations of the lessee for rental payments (other than amounts
required to be paid on account of taxes, maintenance, repairs, insurance, assessments, utilities, operating and labor costs and
other items that do not constitute payments for property rights) during the remaining term of the lease included in such Sale-Leaseback
Transaction (including any period for which such lease has been extended). In the case of any lease that is terminable by the lessee
upon payment of a penalty, the Attributable Indebtedness shall be the lesser of the Attributable Indebtedness determined assuming
termination on the first date such lease may be terminated (in which case the Attributable Indebtedness shall also include the
amount of the penalty, but no rent shall be considered as required to be paid under such lease subsequent to the first date on
which it may be so terminated) or the Attributable Indebtedness determined assuming no such termination.

 

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

 

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

 

“Base
Rate” means for any day a fluctuating rate per annum equal to the
highest of (a) the Federal Funds Rate in effect for
such day plus 1/2 of 1%, (b) the rate of interest in effect for such day as publicly announced from time to time by JPMorgan Chase
as its “prime rate” in effect at its principal office in New York City (the prime rate not being intended to be the
lowest rate of interest charged by JPMorgan Chase in connection with extensions of credit to debtors) and (c) the Eurodollar Rate
that would be calculated as of such day (or, if such day is not a Business Day, as
of the next preceding

 

 

 

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Business Day) in respect
of a proposed Eurodollar Loan with a one month Interest Period plus 1% . Any change in such rate announced by JPMorgan Chase shall
take effect at the opening of business on the day specified in the public announcement of such change.

 

“Base Rate Loan” means
a Loan made hereunder that bears interest based upon the Base Rate.

 

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

 

“Bidco” means a wholly-owned
Subsidiary of Borrower formed for the purpose of acquiring all or a portion of the Target shares as set forth in the Offer Document.

 

“BLR Group” means: (i) Brian L.
Roberts (“BLR”); (ii) his wife; (iii) a lineal descendant of BLR; (iv) the estate of BLR; (v) any trust of which at
least one of the trustees is any one or more of BLR, his wife and his lineal descendants, or the principal beneficiaries of which
are any one or more of BLR, his wife and his lineal descendants; (vi) any Person which is Controlled by any one or more of the
foregoing; and (vii) any group (within the meaning of the Securities Exchange Act of 1934 and the rules of the Securities and Exchange
Commission thereunder as in effect on the date hereof) of which any of the foregoing is a member.

 

“Borrower” has the meaning set forth in
the introductory paragraph hereto.

 

“Borrowing” and “Borrow” each
mean a borrowing of Loans hereunder.

 

“Bridge
Credit Agreement” means that certain 364-Day Bridge Credit Agreement dated as of April 25, 2018, by and among Comcast Corporation,
the lenders party thereto, Bank of America, N.A., as administrative agent, and Wells Fargo Bank, National Association, as syndication
agent.

 

“Bridge Loan Documents” means the Loan
Documents (as defined in the Bridge Credit Agreement).

 

“Bridge Loans” means the Loans (as defined
in the Bridge Credit Agreement).

 

“Business Day” means any
day other than a Saturday, Sunday or other day on which commercial banks in New York, New York are authorized or required by law
to close, and, if the applicable Business Day relates to a Eurodollar Rate Loan, any such day on which dealings are carried out
in the applicable offshore Dollar market; provided that the term “Business Day”, when used in connection with
(i) any Eurodollar Rate Loan (or Base Rate ABR
Loan the rate of which is based on the EurodollarAdjusted
LIBO Rate), shall also exclude any day on which banks are not open for dealings in Dollar, Euro or Sterling deposits
in the London interbank market, (ii) any Loan denominated in Euros shall also exclude any day on which (x) commercial banks in
London are authorized or required by law to remain closed or (y) TARGET is authorized or required by law to remain closed, (iii)
any Loan denominated in Sterling shall also exclude any day on which commercial banks in London are authorized or required by law
to remain closed, (iv) any Loan denominated in Yen shall also exclude any day on which commercial banks in Tokyo, Japan are authorized
or required by law to remain closed and (v) any Loan denominated in Canadian Dollars shall also exclude any day on which commercial
banks in Toronto, Canada are authorized or required by law to remain closed.

 

 

 

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“Cable Subsidiary” means
a Subsidiary of Borrower (a) that operates a cable communications business or (b) whose sole purpose is to directly or indirectly
own or hold an investment in another Person that operates a cable communications business.

 

“Canadian Dollar” and “C$” means
lawful money of Canada.

 

“Canadian
Prime Rate” means, on any day, the rate determined by the Administrative Agent to
be the higher of (i) the rate equal to the PRIMCAN Index rate that appears on the Bloomberg screen at 10:15 a.m. Toronto, Ontario
time on such day (or, in the event that the PRIMCAN Index is not published by Bloomberg, any other information services that publishes
such index from time to time, as selected by the Administrative Agent in its reasonable discretion) and (ii) the average rate for
thirty (30) day Canadian Dollar bankers’ acceptances that appears on the Reuters Screen CDOR Page (or,
in the event such rate does not appear on such page or screen,
on any successor or substitute page or screen that displays
such rate, or on the appropriate page of such other information service that publishes such rate from time to time,
as selected by the Administrative Agent in its reasonable discretion) at
10:15 a.m. Toronto, Ontario time on such day, plus 1% per annum; provided, that if any the above rates shall be less than zero,
such rate shall be deemed to be zero for purposes of this Agreement. Any change in the Canadian Prime Rate due to a change in the
PRIMCAN Index or the CDOR Screen Rate shall be effective from and including the effective date of such change in the PRIMCAN Index
or CDOR Screen Rate, respectively. “Canadian Prime Rate” when used in reference to any Loan or Borrowing, refers to
whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Canadian
Prime Rate.

 

“CDOR
Screen Rate” means on any day for the relevant Interest Period, the annual rate
of interest equal to the average rate applicable to Canadian dollar Canadian bankers’ acceptances
for the applicable period that appears on the “Reuters Screen CDOR Page” as defined in the International Swap Dealer
Association, Inc . definitions, as modified and amended from time to time (or, in the event such rate does
not appear on such page or screen, on any successor or substitute
page or screen that displays such rate, or on the appropriate
page of such other information service that publishes such rate from time to time , as selected
by the Administrative Agent in its reasonable discretion), rounded
to the nearest 1/100th of 1% (with .005% being
rounded up), as of as of the applicable Requisite Time for such Interest Period (as adjusted
by Administrative Agent after the applicable Requisite Time
to reflect any error in the posted rate of interest or in the posted average annual rate of interest).
If the CDOR Screen Rate shall be less than zero, the CDOR Screen
Rate shall be deemed to be zero for purposes of this Agreement.

 

“CDOR”:
in relation to any Loan denominated in Canadian
Dollars:

 

(a) 
the applicable Screen Rate as of the applicable Requisite Time
and for a period equal in length to the
Interest Period of the applicable Borrowing, Continuation or Conversion; or

 

(b) 
In the event the applicable Interest Period is an Impacted Interest Period, the rate per annum equal to the Interpolated
Rate. 

 

“Certain Funds Credit Extension”
means a Borrowing made or to be made during the Certain Funds Period where such Borrowing is to be made solely to finance any Certain
Funds Purpose.

 

“Certain Funds Period”
means the period from and including the Amendment No. 1 Effective Date to and including the first to occur of:

 

 

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(a) 
11:59 p.m. (New York City time) on the first to occur of (i) the date that is 15 months from the issuance of the initial
Rule 2.7 Announcement (the date of such issuance, the “Announcement Date”) and (ii) September 30, 2019;

 

(b) 
11:59 p.m. (New York City time) on the date upon which an Offer lapses, terminates or is withdrawn (unless, within ten Business
Days of such date, Borrower has notified Administrative Agent that it intends to launch a Scheme or a new Offer and a Rule 2.7
Announcement in respect of that Scheme or Offer, as applicable, is issued;

 

(c)  11:59
p.m. (New York City time) on the date which is twenty-one (21) days after the later of (i) the date on which an Offer has
become or has been declared unconditional in all respects and (ii)  the date on
which an Offer has closed for acceptances (unless, in each case, compulsory squeeze-out procedures for the acquisition of
minority shareholdings in the Target pursuant to Part 28 of the Companies Act (“Compulsory Acquisition
Procedures”) have commenced before such date);

 

(d)  11:59
p.m. (New York City time) on the date on which the Target becomes a direct or indirect wholly-owned Subsidiary of Borrower and
Borrower has paid all sums due pursuant to or in connection with, the Target Acquisition and any surrender or cancellation of options
or awards over the shares of the Target;

 

(e) 
if the Target Acquisition is effected by way of a Scheme, 11:59 p.m. (New York City time) on the date falling 14 days after
the Scheme Effective Date or, if later, the date immediately following any extension of the period for settlement of consideration
provided by the Panel pursuant to the Takeover Code;

 

(f) 
11:59 p.m. (New York City time) on the date upon which a Scheme lapses, terminates or is withdrawn (or the same is rejected
by the High Court or is not approved by the requisite shareholders of the Target (unless, within ten Business Days of such date,
Borrower has notified Administrative Agent that it intends to launch an Offer and a Rule 2.7 Announcement in respect of that Offer
is issued); and

 

(g) 
such earlier termination date as may be expressly specified by Borrower to Administrative Agent in writing.

 

“Certain Funds Purpose”
means the consummation of any portion of the Target Acquisition (including, for the avoidance of doubt, any initial or subsequent
purchase of Target shares during the Certain Funds Period) and/or the payment of any portion of the Transaction Costs.

 

“Certain Funds Termination Date” means
the date that is the last day of the Certain Funds Period.

 

“Change of Control” means
(a) the acquisition of ownership, directly or indirectly, beneficially or of record, by any Person or group (within the meaning
of the Securities Exchange Act of 1934 and the rules of the Securities and Exchange Commission thereunder, as in effect on the
date hereof), other than the BLR Group, of Equity Interests representing more than 50% of the aggregate ordinary voting power represented
by the issued and outstanding Equity Interests of Borrower; or (b) the occupation of a majority of the seats (other than vacant
seats) on the board of directors of Borrower by Persons who were not directors of Borrower on the date of this Agreement or nominated
or appointed or approved by the board of directors of Borrower (or by the Nominating Committee of such board).

 

 

 

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“Clean-Up Period Termination Date” means
the date that is 120 days after the Final Closing Date.

 

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

 

“Co-Documentation Agents” has the meaning
set forth in the introductory paragraph hereto.

 

“Communications” means,
collectively, any notice, demand, communication, information, document or other material provided by or on behalf of any Loan Party
pursuant to any Loan Document or the transactions contemplated therein which is distributed by Administrative Agent, any Lender
or any Issuing Lender by means of electronic communications pursuant to Section 10.02(e), including through an Electronic System.

 

“Companies Act” means the Companies Act
2006 of the United Kingdom, as amended.

 

“Competitive Bid” means
an offer by a Lender to make a Competitive Loan in accordance with Section 2.04.

 

“Competitive Bid Rate”
means, with respect to any Competitive Bid, the Margin or the Fixed Rate, as applicable, offered by the Lender making such Competitive
Bid.

 

“Competitive Bid Request”
means a request by Borrower for Competitive Bids in accordance with Section 2.04.

 

“Competitive Borrowing”
means a Competitive Loan or group of Competitive Loans of the same type made on the same date and as to which a single Interest
Period is in effect.

 

“Competitive Loan” means a Loan made pursuant
to Section 2.04.

 

“Compliance Certificate”
means a certificate substantially in the form of Exhibit C, properly completed and signed by a Responsible Officer of Borrower.

 

“Compulsory Acquisition Procedures”
has the meaning set forth in the definition of Certain Funds Period.

 

“Consolidated Net Tangible Assets”
means, at any time, total assets minus (a) all franchise rights, goodwill, and other intangible assets, net of accumulated
amortization and (b) all current liabilities (other than current portion of long-term debt), in each case appearing on the
consolidated balance sheet of Borrower and its consolidated Subsidiaries most recently delivered (prior to such time)
pursuant to Section 4.01(d)(i) or Section 6.01(a) (as applicable).

 

“Consolidated Total Indebtedness”
means, as of any date of determination, the total Indebtedness for borrowed money of Borrower and its Restricted Subsidiaries and
Guaranty Obligations of Borrower and its Restricted Subsidiaries in respect of Indebtedness for borrowed money, determined on a
consolidated basis in accordance with GAAP, but excluding, to the extent constituting Indebtedness for borrowed money or Guaranty
Obligations in respect of Indebtedness for borrowed money, Indebtedness of Borrower and its Restricted Subsidiaries arising from
(A) the asset monetization transactions set forth on Schedule A and any extensions, renewals or replacements thereof and (B) any
asset monetization transactions which are recourse only to the assets so monetized and are done on

 

 

 

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substantially similar terms to the asset monetization
transactions set forth on Schedule A (collectively, “Asset Monetization Transactions”).

 

“Continuation”
and “Continue” mean, with respect to any Eurodollar Rate Loan, the continuation of such Eurodollar Rate Loan as a Eurodollar
Rate Loan on the last day of the Interest Period for such Loan.

 

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

 

“Control”
or “Controlled” 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.

 

“Conversion” and “Convert”
mean, with respect to any Loan, the conversion of such Loan from or into another type of Loan.

 

“Debt Rating” has the meaning set forth
in the definition of Applicable Amount.

 

“Debtor Relief Laws” means
the Bankruptcy Code of the United States of America, 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 of America or other applicable jurisdictions from time to time in effect affecting the rights of creditors generally.

 

“Declining Lender” has the meaning set forth
in Section 2.01(e).

 

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

 

“Default Rate”
means an interest rate equal to (i) in the case of overdue principal of any Loan, 2% per annum plus the rate otherwise applicable
to such Loan as provided in Section 2.09(a) or (ii) in the case of any other overdue amount, 2% per annum plus the rate applicable
to Base RateABR Loans, in each case to
the fullest extent permitted by applicable Laws.

 

“Defaulting Lender” means
any Lender that has (a) failed to fund its portion of any Borrowing, or any portion of its participation in any Letter of Credit,
within three Business Days of the date on which it shall have been required to fund the same (or, in the case of any Borrowing
on the Effective Date, on the Effective Date), (b) notified Borrower, Administrative Agent, any Issuing Lender or any other Lender
in writing that it does not intend to comply with any of its funding obligations under this Agreement or has made a public statement
to the effect that it does not intend to comply with its funding obligations under this Agreement or generally under agreements
in which it commits to extend credit, (c) failed, within three Business Days after written request by Administrative Agent (which
request shall, in any event, be made promptly upon request by Borrower), to confirm that it will comply with the terms of this
Agreement relating to its obligations to fund prospective Loans and participations in then outstanding Letters of Credit; provided
that any such Lender shall cease to be a Defaulting Lender under this clause (c) upon receipt of such confirmation by Administrative
Agent, (d) otherwise failed to pay over to Administrative Agent or any other Lender any other amount required to be paid by it
hereunder within three Business Days of the date when due, unless the subject of a good faith dispute, (e)(i) been (or has a parent
company, including any intermediate parent company, that has been)

 

 

     10

     

    

adjudicated as, or determined by any Governmental Authority
having regulatory authority over such Person or its assets to be, insolvent or (ii) become the subject of a Bail-in Action or a
bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors
or similar Person charged with reorganization or liquidation of its business or custodian, appointed for it, or has taken any action
in furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding or appointment or has a parent
company, including any intermediate parent company, that has become the subject of a Bail-in Action or a bankruptcy or insolvency
proceeding, or has had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person
charged with reorganization or liquidation of its business or custodian appointed for it, or has taken any action in furtherance
of, or indicating its consent to, approval of or acquiescence in any such Bail -in Action or bankruptcy proceeding or appointment,
unless in the case of any Lender referred to in this clause (e) Borrower, Administrative Agent and each Issuing Lender shall be
satisfied that such Lender intends, and has all approvals required to enable it, to continue to perform its obligations as a Lender
hereunder or (f) has otherwise become a “defaulting” lender generally in credit agreements to which it is a party (as
reasonably determined by Administrative Agent in consultation with Borrower). For the avoidance of doubt, a Lender shall not be
deemed to be a Defaulting Lender solely by virtue of the ownership or acquisition of any Equity Interest in such Lender or its
parent by a Governmental Authority.

 

“Disposition” means (a)
any sale, transfer or other disposition of assets or series of sales, transfers or other disposition of assets by Borrower or any
Restricted Subsidiary (including by way of asset or stock sale, swap or merger) other than to Borrower or any Restricted Subsidiary
or (b) the designation by Borrower of a Restricted Subsidiary as an Unrestricted Subsidiary.

 

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

 

“Dollar Amount” means,
at any time, for any amount, (i) if denominated in Dollars, the amount thereof and (ii) if denominated in an Alternative Currency,
the amount thereof converted to Dollars in accordance with Section 2.15.

 

“Draw-Stop Event” means,
from and after the Amendment No. 1 Effective Date, the continuance of any of the following events with respect to Borrower and
the Guarantors only (and not, for the avoidance of doubt, (x) in relation to any other Subsidiary of Borrower or the Target Group
or (y) in respect of any obligation to procure any action by any other Subsidiary of Borrower or the Target Group), in each case,
for the avoidance of doubt, unless waived by the Required Lenders:

 

(a)  Borrower shall have failed to comply (or shall have failed to procure that Bidco shall have complied) in all material respects
with (i) the Takeover Code and (ii) all other applicable laws and regulations in relation to any Offer or Scheme, in each case
in relation to the Target Acquisition and, subject to any waivers or dispensations granted by the Panel, the U.S. Securities and
Exchange Commission or any other applicable regulator, and in the case of either of (i) and (ii), such failure shall have continued
for 30 days after notice thereof to Borrower from Administrative Agent or any Lender;

 

(b)  (i) except as consented to by the Required Lenders in writing (such consent not to be unreasonably withheld, conditioned
or delayed), Borrower shall have (or shall have failed to procure that Bidco shall not have) amended, treated as satisfied or waived
any term or condition of an Offer or a Scheme set out in the relevant Target Acquisition Document other than any such amendment,
treatment or waiver which is not a Materially Adverse Amendment; provided that Borrower may amend, treat as satisfied or waive
any term or condition of an Offer or a Scheme to the extent required by the Takeover Code, the Panel, any other competent

 

 

     11

     

    

regulatory body or by a court of competent jurisdiction,
or (ii) in the case of an Offer, Borrower shall have (or shall have failed to procure that Bidco shall not have) declared any Offer
unconditional as to acceptances until the Acceptance Condition shall have been satisfied; and in the case of either of (i) and
(ii), such occurrence shall have continued for 30 days after notice thereof to Borrower from Administrative Agent or any Lender;
and/or

 

(c)
Borrower shall be unable to represent, in all material respects and at the applicable time, that (i) in the case of an Offer
(as applicable), the Offer Press Release and the Offer Documents shall contain all material terms of the Offer (taken as a whole)
as at the date on which they were published or (ii) in the case of a Scheme (as applicable), the Scheme Press Release and the Scheme
Documents contain all the material terms of the Scheme (taken as a whole) as at the date on which they were published.

 

“EBITDA” means, with respect to
any Person or any income generating assets, for any period, an amount equal to (a) the operating income of such Person or generated
by such assets calculated in accordance with GAAP adjusted to exclude gains and losses from unusual or extraordinary items, plus
(b) depreciation, amortization and other non-cash charges to operating income, in each case for such period, minus (c) any cash
payments made during such period in respect of any non-cash charges to operating income accrued during a prior period and added
back in determining EBITDA during such prior period pursuant to clause (b) above, plus (d) corporate overhead expenses incurred
by Borrower in an aggregate amount not to exceed $100,000,000 for any fiscal year of Borrower, plus (e) any and all Transaction
Costs incurred by Borrower and/or its Restricted Subsidiaries (in each case whether paid in cash or accrued).

 

“EDGAR” means the Electronic
Data Gathering, Analysis and Retrieval computer system for the receipt, acceptance, review and dissemination of documents submitted
to the U.S. Securities and Exchange Commission in electronic format.

 

“EEA Financial Institution”
means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of
an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described
in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of
an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent.

 

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

 

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

 

“Effective Date” means
the date upon which all the conditions precedent in Section 4.01 have been satisfied or waived, which date is May 26, 2016.

 

“Electronic System” means
any electronic system, including e-mail, e-fax, Intralinks®, ClearPar®,
Debt Domain, Syndtrak and any other Internet or extranet-based site, whether such electronic system is owned, operated or hosted
by Administrative Agent or any other Person, providing for access to data protected by passcodes or other security system.

 

 

     12

     

    

“Eligible Assignee” means
(i) a Lender; (ii) an Affiliate of a Lender; (iii) a commercial bank organized under the laws of the United States, or any State
thereof, and having total assets in excess of $5,000,000,000; (iv) a savings and loan association or savings bank organized under
the laws of the United States, or any State thereof, and having total assets in excess of $5,000,000,000; (v) a commercial bank
organized under the laws of any other country that is a member of the Organization for Economic Cooperation and Development or
has concluded special lending arrangements with the International Monetary Fund associated with its General Arrangements to Borrow
or of the Cayman Islands, or a political subdivision of any such country, and having total assets in excess of $5,000,000,000 so
long as such bank is acting through a branch or agency located in the United States or in the country in which it is organized
or another country that is described in this clause (v); (vi) the central bank of any country that is a member of the Organization
for Economic Cooperation and Development; or (vii) any other Person approved by Administrative Agent and Borrower.

 

“Equity Interests” means
shares of capital stock, partnership interests, membership interests in a limited liability company, beneficial interests in a
trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to
purchase or acquire any such equity interest.

 

“ERISA” means the Employee
Retirement Income Security Act of 1974 and any regulations issued pursuant thereto, as amended from time to time.

 

“ERISA
Affiliate” means any person that for purposes of Title I or Title IV of ERISA or Section 412 of the Code would be deemed
at any relevant time to be a “single employer” with Borrower under Section 414(b), (c), (m) or (o) of the Code or Section
4001 of ERISA.

 

“ERISA Event” means (a) any “reportable
event,” as defined in Section 4043 of ERISA or the regulations issued thereunder with respect to a Plan (other than an event
for which the 30-day notice period is waived); (b) the failure of Borrower or any ERISA Affiliate to make by its due date a required
installment under Section 430(j) of the Code with respect to any Plan or any failure by any Plan to satisfy the minimum funding
standards (within the meaning of Section 412 of the Code or Section 302 of ERISA) applicable to such Plan, whether or not waived;
(c) the filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an application for a waiver of the minimum
funding standard with respect to any Plan; (d) the occurrence of any event or condition which could reasonably be expected to constitute
grounds under ERISA for the termination of, or the appointment of a trustee to administer, any Plan or the incurrence by Borrower
or any ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of any Plan; (e) the receipt by
Borrower or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan
or to appoint a trustee to administer any Plan; (f) the incurrence by Borrower or any ERISA Affiliates of any liability with respect
to the withdrawal or partial withdrawal from any Plan or Multiemployer Plan; or (g) the receipt by Borrower or any ERISA Affiliate
of any notice, or the receipt by any Multiemployer Plan from Borrower or any ERISA Affiliate of any notice, concerning the imposition
of withdrawal liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent (within the meaning of
Title IV of ERISA), in “endangered” or “critical” status (within the meaning of Section 432 of the Code
or Section 305 of ERISA), or terminated (within the meaning of Section 4041 of ERISA).

 

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

 

“EURIBOR
Screen Rate” means, in relation to any Loan denominated in Euros,
the euro interbank offered rate administered by the European Money Markets Institute (or any
other Person which takes over the administration of that rate)
for the relevant period displayed on page EURIBOR01 of the

 

 

 

     13

     

    

Thomson Reuters
screen (or any replacement Thomson Reuters page which displays that rate) or on the appropriate page of such other information
service which publishes that rate from time to time in place
of Thomson Reuters as the applicable Requisite Time. If such page or service ceases to be available, the Administrative Agent may
specify another page or service displaying the relevant rate after consultation with the Borrower. If the EURIBOR Screen Rate shall
be less than zero, the EURIBOR Screen Rate shall be deemed to be zero for purposes of this Agreement.

 

“EURIBOR”: in relation
to any Loan denominated in Euros:

 

(a) 
the applicable Screen Rate as of the applicable Requisite Time and for a period equal in length to the Interest Period of
the applicable Borrowing, Continuation or Conversion; or 

 

(b) 
in the event the applicable Interest Period is an Impacted Interest Period, the rate per annum equal to the Interpolated
Rate. 

 

“Euro” and “€” means lawful
money of the European Union.

 

“Eurodollar Base
Rate” has the meaning set forth in the definition of Eurodollar Rate.

 

“Eurodollar Rate” means for
any Interest Period, with respect to any Eurodollar Rate Loan,
a rate per annum determined by Administrative Agent pursuant to the following formulaBorrowing
for any Interest Period:

 

(i) 
denominated in a LIBOR Quoted Currency, the Adjusted LIBO Rate (or, in the case of a Competitive Loan, the LIBO Rate);

 

(ii) 
denominated in Canadian Dollars, the CDOR Screen Rate with tenor equal to such
Interest Period; and/or

 

(iii) 
denominated in Euro, the EURIBOR Screen Rate with tenor equal to such Interest period; 

 

provided,
in each case, if the LIBO Screen Rate, the CDOR Screen Rate or the EURIBOR Screen Rate, as applicable, shall not be available at
such time for such Interest Period (an “Impacted Interest Period”) then the “Eurodollar Rate”
with respect to such Eurodollar Rate Borrowing for such Interest Period shall be the Interpolated
Rate. “Eurodollar Rate” when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans
comprising such Borrowing, are bearing interest at a rate determined by reference to the Eurodollar Rate.

 

	Eurodollar Rate =	Eurodollar Base Rate
	 	1.00 - Eurodollar Reserve Percentage
	Where,	 

“Eurodollar Base Rate”
means, for such Interest Period:

 

(a) 
the applicable Screen Rate as of the applicable Requisite Time and for a period equal in length to the Interest Period of
the applicable Borrowing, Continuation or Conversion, or 

 

(b) 
in the event the applicable Interest Period is an Impacted Interest Period, the rate per annum equal to the Interpolated
Rate. 

 

 

 

     14

     

    

“Eurodollar
Rate Loan” means a Loan bearing interest based on the Eurodollar Rate.
For the avoidance of doubt, each Loan denominated in a currency other than Dollars shall be a Eurodollar
Rate Loan.

 

“Eurodollar
Reserve Percentage” means, for any day during
any Interest Period, the reserve percentage (expressed as a decimal, rounded upward to the next 1/100th of 1%) in effect on such
day, whether or not applicable to any Lender, under regulations issued from time to time by the Board of Governors of the Federal
Reserve System for determining the maximum reserve requirement (including any emergency, supplemental or other marginal reserve
requirement) for a member bank of the Federal Reserve System in respect of “Eurocurrency liabilities” (or in respect
of any other category of liabilities, which includes deposits by reference to which the interest
rate on Eurodollar Rate Loans is determined or any category of extensions of credit or other assets
which includes loans by a non- United States office of any Lender to United States residents). The Eurodollar Rate for each outstanding
Eurodollar Rate Loan shall be adjusted automatically as of the effective date of any change in
the Eurodollar Reserve Percentage.

 

The determination of the
Eurodollar Reserve Percentage and the Eurodollar Base Rate by Administrative Agent shall be conclusive in the absence of manifest
error.

 

“Eurodollar
Reserve Percentage” has the meaning set forth in the
definition of Eurodollar Rate.

 

“Event of Default” means any of the events
specified in Section 8.

 

“Exchange Rate” means
on any day with respect to any currency other than Dollars, the rate at which such currency may be exchanged into Dollars, as set
forth at approximately 11:00 a.m. (London time) on such day on the Reuters World Currency Page for such currency; in the event
that such rate does not appear on any Reuters World Currency Page, the Exchange Rate shall be determined by reference to such other
publicly available service for displaying exchange rates as may be agreed upon by Administrative Agent and Borrower, or, in the
absence of such agreement, such Exchange Rate shall instead be the arithmetic average of the spot rates of exchange of Administrative
Agent in the market where its foreign currency exchange operations in respect of such currency are then being conducted, at or
about 10:00 a.m. (New York City time) on such date for the purchase of Dollars for delivery two (2) Business Days later; provided,
however, that if at any time of any such determination, for any reason, no such spot rate is being quoted, Administrative Agent
may use any reasonable method it deems appropriate to determine such rate, and such determination shall be conclusive absent manifest
error.

 

“Existing Credit Agreement”
means the Credit Agreement, dated as of June 6, 2012, among Comcast Corporation, Comcast Cable Communications, LLC, the lenders
parties thereto, JPMorgan Chase Bank, N.A., as administrative agent and issuing lender, Citibank, N.A., as syndication agent, and
Morgan Stanley MUFG Loan Partners, LLC and Wells Fargo Bank, National Association, as co-documentation agents.

 

“Existing Letters of Credit”
means the letters of credit that have been issued prior to the Effective Date pursuant to the Existing Credit Agreement or that
certain continuing agreement for standby letters of credit dated as of December 2, 2011 between Borrower and JPMorgan Chase Bank,
N.A. and that are outstanding on the Effective Date.

 

“Extended Revolving Termination Date” has
the meaning set forth in Section 2.01(e).

 

 

 

     15

     

    

“Extending Lender” has the meaning set forth
in Section 2.01(e).

 

“Extension Effectiveness Date” has the meaning
set forth in Section 2.01(e).

 

“Extension of Credit” means (a) a
Borrowing, Conversion or Continuation of Loans and (b) a Letter of Credit Action whereby a new Letter of Credit is issued or
which has the effect of increasing the amount of, extending the maturity of, or making a material modification to an
outstanding Letter of Credit or the reimbursement of drawings thereunder (collectively, the “Extensions of
Credit”).

 

“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 and any law, regulation, rule, promulgation, or official agreement implementing
an official intergovernmental agreement with respect to such sections or regulations.

 

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

 

“Final Closing Date”
means the first date on which the conditions set forth in clause (c) (unless Compulsory Acquisition Procedures have commenced before
such date), (d) or (e) of the definition of Certain Funds Period shall have occurred.

 

“Fixed Rate” means, with
respect to any Competitive Loan (other than a Competitive Loan that is a Eurodollar Rate Loan), the fixed rate of interest per
annum specified by the Lender making such Competitive Loan in its related Competitive Bid.

 

“Fixed Rate Loan” means a Competitive Loan
bearing interest at a Fixed Rate.

 

“GAAP” means generally
accepted accounting principles applied on a consistent basis (but subject to changes approved by Borrower’s independent certified
public accountants).

 

“Governmental Authority” means
(a) any international, foreign, federal, state, county or municipal government, or political subdivision thereof, (b) any governmental
or quasi-governmental agency, authority, board, bureau, commission, department, instrumentality, central bank or public body, including
the Federal Communications Commission, (c) any state public utilities commission or other authority and any federal, state, county,
or municipal licensing or franchising authority or (d) any court or administrative tribunal.

 

“Guarantee Agreement”
means the Guarantee Agreement to be executed and delivered by each Guarantor, substantially in the form of Exhibit A.

 

“Guarantors” means Comcast
Cable Communications, LLC, NBCUniversal Media, LLC and each Restricted Subsidiary that becomes a party to the Guarantee Agreement
pursuant to Section 6.10 (in each case to the extent not released as contemplated by this Agreement).

 

“Guaranty Obligation”
means, as to any Person, any (a) guaranty by such Person of Indebtedness of any other Person or (b) legally binding obligation
of such Person to purchase or pay (or

 

 

 

     16

     

    

to advance or supply funds for the purchase or payment
of) Indebtedness of any other Person, or to purchase property, securities, or services for the purpose of assuring the owner of
such Indebtedness of the payment of such Indebtedness or to maintain working capital, equity capital or other financial statement
condition of such other Person so as to enable such other Person to pay such Indebtedness; provided, however, that
the term Guaranty Obligation shall not include endorsements of instruments for deposit or collection in the ordinary course of
business. The amount of any Guaranty Obligation shall be deemed to be an amount equal to the stated or determinable amount of the
related primary obligation, or portion thereof, covered by such Guaranty Obligation or, if not stated or determinable, the maximum
reasonably anticipated liability in respect thereof as determined by the Person in good faith.

 

“High Court” means the High Court of Justice
of England and Wales.

 

“Impacted
Interest Period” means any Interest Period for which the applicable Screen Rate does
not appear on such page or service or such page or service shall cease to be available or shall
otherwise not be available.has the meaning set forth in the definition of Eurodollar
Rate.

 

“Increased Revolving Commitment
Activation Notice” means a notice substantially in the form of Exhibit E-2.

 

“Increased Revolving Commitment
Closing Date” means any Business Day designated as such in an Increased Revolving Commitment Activation Notice.

 

“Indebtedness” means, as to any
Person, without duplication, (a) all obligations of such Person for borrowed money, (b) all obligations of such Person evidenced
by bonds, debentures, notes or similar instruments, (c) all obligations of such Person under conditional sale or other title retention
agreements relating to property or assets purchased by such Person, (d) all obligations of such Person issued or assumed as the
deferred purchase price of property or services, (e) all Indebtedness of others secured by any Lien on property owned or acquired
by such Person, whether or not the obligations secured thereby have been assumed, (f) all Guaranty Obligations of such Person with
respect to Indebtedness of others, (g) all capital lease obligations of such Person, (h) all Attributable Indebtedness under Sale-Leaseback
Transactions under which such Person is the lessee and (i) all obligations of such Person as an account party in respect of outstanding
letters of credit (whether or not drawn) and bankers’ acceptances; provided , however, that Indebtedness shall
not include (i) trade accounts payable arising in the ordinary course of business and (ii) deferred compensation; provided,
further, that in the case of any obligation of such Person which is recourse only to certain assets of such Person, the
amount of such Indebtedness shall be deemed to be equal to the lesser of the amount of such Indebtedness or the value of the assets
to which such obligation is recourse as reflected on the balance sheet of such Person at the time of the incurrence of such obligation;
and provided, further , that the amount of any Indebtedness described in clause (e) above shall be the lesser of
the amount of the Indebtedness or the fair market value of the property securing such Indebtedness.

 

“Indemnified Liabilities” has the meaning
set forth in Section 10.13.

 

“Indemnitees” has the meaning set forth
in Section 10.13.

 

“Initial Bridge Closing Date”
means the Initial Closing Date (as defined in the Bridge Credit Agreement).

 

“Initial Term Closing Date”
means the Initial Closing Date (as defined in the Term Loan Credit Agreement).

 

 

 

     17

     

    

“Interest Expense” means,
with respect to any Person or any income generating assets, for any period, an amount equal to, without duplication, (a) all interest
on Indebtedness (other than Indebtedness arising from Asset Monetization Transactions) of such Person or properly allocable to
such assets, and commitment and facility fees in respect thereof, accrued (whether or not actually paid) during such period, (b)
plus the net amount accrued (whether or not actually paid) by such Person or properly allocable to such assets pursuant to any
interest rate protection agreement during such period (or minus the net amount receivable (whether or not actually received) by
such Person or properly allocable to such assets during such period), (c) minus the amortization of deferred financing fees recorded
during such period and (d) minus the amortization of any discount or plus the amortization of any premium (determined as the difference
between the present value and the face amount of the subject Indebtedness) recorded during such period.

 

“Interest Period” means
(a) for each Eurodollar Rate Loan, (i) initially, the period commencing on the date such Eurodollar Rate Loan is disbursed or Continued
as, or Converted into, such Eurodollar Rate Loan and (ii) thereafter, the period commencing on the last day of the preceding Interest
Period, and ending, in each case, on the earlier of (A) the scheduled maturity date of such Loan, or (B) one, two, three, six,
or, if agreed to by each Lender, 12 months or periods less than one month, thereafter and (b) with respect to any Borrowing of
Fixed Rate Loans, the period (which shall not be less than seven days or more than 360 days) commencing on the date of such Borrowing
and ending on the date specified in the applicable Competitive Bid Request; provided that:

 

(i)    
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;

 

(ii)    
any Interest Period which 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

 

(iii)
   unless Administrative Agent otherwise consents, there may not be more than ten (10) Interest Periods for Eurodollar Rate Loans in effect at any time.

  

“Interpolated
Rate” means, at any time, for any Interest Period, the rate per annum determined by the
Administrative Agent (which determination shall be conclusive and binding absent manifest error) to be equal to the rate which
results from interpolating on a linear basis between: (a) the LIBO Screen Rate,
the CDOR Screen Rate or the EURIBOR Screen Rate, as applicable for the longest period (for which thatthe
LIBO Screen Rate, the CDOR Screen Rate or the EURIBOR Screen Rate, as applicable, is
available for the applicable currency) which is lessshorter
than the relevant Impacted Interest Period and (b) the LIBO
Screen Rate, the CDOR Screen Rate or the EURIBOR Screen Rate, as applicable, for the shortest
period (for which that LIBO Screen Rate, the CDOR Screen Rate
or the EURIBOR Screen Rate, as applicable, is available for the applicable currency) which exceeds the relevant
Impacted Interest Period, in each case,
as of the applicable Requisite Time. When determining the rate for a period which is less than the shortest period for which the
LIBO Screen Rate is available, the LIBO Screen
Rate for purposes of clause (a) above shall be deemed to be the overnight rate for dollars determined by Administrative Agent from
such service as Administrative Agent may reasonably select. If any Interpolated Rate shall be less than zero, such rate shall be
deemed to be zero for purposes of this Agreement.

 

“IRS” means the United States Internal Revenue
Service.

 

 

 

     18

     

    

“Issuing Lender” means
each Lender with a Letter of Credit Commitment and, only as to the Existing Letters of Credit, each financial institution listed
as an issuer of an Existing Letter of Credit on Schedule 2.03 in its capacity as an issuer of such Letters of Credit hereunder,
and any other Lender that may agree with Borrower to issue Letters of Credit hereunder, or any successor issuing lender hereunder.
Any Lender that becomes an Issuing Lender after the Effective Date agrees to give Administrative Agent prompt notice thereof.

 

“JPMorgan Chase” means JPMorgan Chase Bank,
N.A.

 

“Judgment Currency” has the meaning set
forth in Section 10.25(b).

 

“Laws” or “Law”
means all international, foreign, federal, state and local statutes, treaties, rules, regulations, ordinances, codes and administrative
or judicial precedents or authorities, including, if consistent therewith, the interpretation or administration thereof by any
Governmental Authority charged with the enforcement, interpretation or administration thereof.

 

“Lender” means each lender
from time to time party hereto and, as the context requires, each Issuing Lender, each New Lender and each New Extending Lender,
and, subject to the terms and conditions of this Agreement, their respective successors and assigns (but not any purchaser of a
participation hereunder unless otherwise a party to this Agreement).

 

“Lender Party” means any Agent, any Issuing
Lender or any Lender.

 

“Lending
Office” means, as to any Lender, the office or offices of such Lender described as such on its Administrative Questionnaire,
or such other office or offices as such Lender may from time to time notify Administrative Agent and Borrower.

 

“Letter of Credit” means
any letter of credit issued or deemed to be issued hereunder, including the Existing Letters of Credit.

 

“Letter of Credit
Action” means the issuance, supplement, amendment, renewal, extension, modification or other action relating to a
Letter of Credit hereunder.

 

“Letter of Credit Application”
means an application for a Letter of Credit Action from time to time in use by an Issuing Lender.

 

“Letter of Credit Cash Collateral
Account” means a blocked deposit account at JPMorgan Chase in which Borrower hereby grants a security interest to Administrative
Agent, for the benefit of the Lenders and the Issuing Lenders (in each case with respect to each such Person’s interest in
the applicable Letter of Credit), as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and
deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such
security interest.

 

“Letter of Credit Commitment”
means, for each Issuing Lender, the amount set forth under the heading “Letter of Credit Commitment” opposite such
Lender’s name on Schedule 2.03 as such Schedule may be modified from time to time, and as such amount may be reduced or adjusted
from time to time in accordance with the terms of this Agreement.

 

“Letter of Credit Expiration
Date” means the date that is five Business Days prior to the Revolving Termination Date.

 

 

 

     19

     

    

“Letter
of Credit Sublimit” means, at any date of determination, an amount equal to the lesser of (a) the combined Revolving Commitments
minus the aggregate amount of all outstanding Loans and (b) $1,000,000,000, as such amount may be reduced from time to time in
accordance with the terms of this Agreement.

 

“Letter
of Credit Usage” means, as of any date of determination, the aggregate undrawn face or available Dollar Amount of outstanding
Letters of Credit plus the aggregate Dollar Amount of all drawings under the Letters of Credit not reimbursed by Borrower or converted
into Revolving Loans.

 

“Leverage Ratio” means, at any
date of determination, the ratio of (a) Consolidated Total Indebtedness as of such date minus up to $1,000,000,000 of unrestricted
cash and cash equivalents on the balance sheet of Borrower and its Restricted Subsidiaries on or as of such date to (b) Annualized
EBITDA of Borrower and its Restricted Subsidiaries, on a consolidated basis; provided that, at any time after (x) in connection
with the Target Acquisition or with respect to any acquisition that is a Material Acquisition in accordance with clause (ii) of
the definition thereof to which the United Kingdom City Code on Takeovers and Mergers (or any comparable laws, rules or regulations
in any other jurisdiction) applies, the date on which (i) the Rule 2.7 Announcement is issued in connection with the Target Acquisition
or (ii) a “Rule 2.7 announcement” of a firm intention to make an offer in respect of a target of such Material Acquisition
(or the equivalent notice under such comparable laws, rules or regulations in such other jurisdiction) is issued or (y) in connection
with any acquisition that is a Material Acquisition in accordance with clause (ii) of the definition thereof, the date a definitive
agreement for such Material Acquisition shall have been executed (or, in the case of a Material Acquisition in the form of a tender
offer or similar transaction, after the offer shall have been launched) and prior to the consummation of such Material Acquisition
(or termination of the definitive documentation in respect thereof (or such later date as such indebtedness ceases to constitute
Acquisition Debt as set forth in the definition of “Acquisition Debt”)), any Acquisition Debt to the extent the proceeds
of such Acquisition Debt are held in escrow or held on the balance sheet of Borrower or any of its Restricted Subsidiaries (or
an Unrestricted Subsidiary, so long as, in the good faith determination of Borrower, such Unrestricted Subsidiary is expected to
become a Restricted Subsidiary in connection with the consummation of such Material Acquisition) shall be excluded from the determination
of the Leverage Ratio.

 

“LIBO
Rate” means , with respect to any Eurodollar Rate
Borrowing for any applicable currency and for any Interest Period, the LIBO Screen Rate as of
the applicable Requisite Time.

 

“LIBO
Screen Rate” means, for any day and time, with respect to any Eurodollar Rate Borrowing for any applicable currency and for
any Interest Period, the London interbank offered rate as administered by ICE
Benchmark Administration (or any other Person that takes over the administration of such
rate for Dollars/the relevant currency for a period equal in length to such
Interest Period as displayed on such day and time on pages LIBOR01 or LIBOR02 of the Reuters screen that displays such rate ( or,
in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page on such screen that displays
such rate, or on the appropriate page of such other information service that publishes such rate from time to time as selected
by the Administrative Agent in its reasonable discretion for
deposits in the applicable currency); provided that if the LIBO Screen Rate as so determined would
be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement.

 

“LIBOR
Quoted Currency” means each of the following currencies: Dollars; Sterling; and Yen; in each case as long as there is a published
LIBO Screen Rate with respect thereto.

 

“Lien” means any mortgage,
pledge, hypothecation, assignment, encumbrance, lien (statutory or other), charge or other security interest (including any conditional
sale or other title

 

 

 

     20

     

    

retention agreement, any financing lease or Sale-Leaseback
Transaction having substantially the same economic effect as any of the foregoing, and the filing of any financing statement under
the Uniform Commercial Code or comparable Laws of any jurisdiction), including the interest of a purchaser of accounts receivable;
provided that Liens shall not include ordinary and customary contractual set off rights.

 

“Loan” means any advance
made by any Lender to Borrower as provided in Section 2 (collectively, the “Loans”).

 

“Loan Documents” means
this Agreement, the Guarantee Agreement, each Note, each Letter of Credit Application, each Request for Extension of Credit, each
Compliance Certificate, each fee letter and each other instrument or agreement from time to time delivered by any Loan Party pursuant
to this Agreement (including, without limitation, Amendment No. 1 and Amendment No. 2).

 

“Loan Parties” means Borrower and each
of its Subsidiaries that is a party to a Loan Document.

 

“Major
Event of Default” means an Event of Default arising from any of the following with respect to Borrower and the Guarantors
only (and not, for the avoidance of doubt, (a) in relation to any other Subsidiary of Borrower or the Target Group or (b) in respect
of any obligation to procure any action by any other Subsidiary of Borrower or the Target Group):

 

(i)
    any circumstance constituting an Event of Default under Section 8.01(a);

 

(ii)
    any circumstance constituting an Event of Default under Section 8.01(b);

 

(iii)    
any circumstance constituting an Event of Default under Section 8.01(c), but solely as it relates to the failure to perform
or observe any of covenants set forth in Section 7.03 (Fundamental Changes);

 

(iv)     
any circumstance constituting an Event of Default under Section 8.01(d), but solely as it relates to the failure to perform
or observe any of the covenants set forth in Section 6.4 (Preservation
of Existence) but only insofar as it refers to “existence” therein, 7.01 (Liens) or 7.05 (Anti-Corruption
Laws and Sanctions);

 

(v)     
any circumstance constituting an Event of Default under Section 8.01(e), but solely as it relates to the inaccuracy of any
representation or warranty set forth in Section 5.01 (Existence and Qualification; Compliance with Laws), 5.02 (Power;
Authorization; Enforceable Obligations), 5.03(a)(i), (ii) and (iii) (No Legal Bar) (but only in respect of Section 5.03(iii)
with respect to any Contractual Obligation that is Indebtedness for borrowed money incurred or issued by a Loan Party in an aggregate
principal amount equal to or greater than the Threshold Amount) or 5.06 (Use of Proceeds) (solely with respect to the second
sentence thereof);

 

(vi)
    any circumstance constituting an Event of Default under Section 8.01(g); and

 

(vii)    
any circumstance constituting an Event of Default under Section 8.01(i) (but excluding, in relation to involuntary proceedings,
any Event of Default caused by a frivolous or vexatious (and, in either case, lacking in merit) action, proceeding or petition
in respect of which no order or decree in respect of such involuntary proceeding shall have been entered).

 

 

 

     21

     

    

“Margin” means, with
respect to any Competitive Loan bearing interest at a rate based on the Eurodollar Rate, the marginal rate of interest, if any,
to be added to or subtracted from the Eurodollar Rate to determine the rate of interest applicable to such Loan, as specified by
the Lender making such Loan in its related Competitive Bid.

 

“Material Acquisition”
means any Acquisition (the “Subject Acquisition”) (i) made at a time when the Leverage Ratio is in excess of 4.5 to
1.0 or (ii) that has an Annualized Acquisition Cash Flow Value (as defined below) for the period ended on the last day of the fiscal
quarter most recently ended that is greater than five percent (5%) of the Annualized EBITDA of Borrower and its Restricted Subsidiaries,
on a consolidated basis, for the same period. The “Annualized Acquisition Cash Flow Value” is an amount equal to (a)
the Annualized EBITDA of the assets comprising the Subject Acquisition less (b) the Annualized EBITDA of any assets disposed of
by Borrower or any Restricted Subsidiary (other than to Borrower or any Restricted Subsidiary) in connection with the Subject Acquisition.

 

“Material Adverse Effect”
means any set of circumstances or events which (a) has or would reasonably be expected to have a material adverse effect upon the
validity or enforceability against Borrower or any Guarantor that is a Significant Subsidiary of any Loan Document or (b) has had
or would reasonably be expected to have a material adverse effect on the ability of Borrower and Guarantors, taken as a whole,
to perform their payment obligations under any Loan Document.

 

“Material Debt” means
Indebtedness for borrowed money incurred or issued by Borrower in an aggregate principal amount equal to or greater than $500,000,000.

 

“Material Disposition”
means any Disposition (the “Subject Disposition”) (i) made at a time when the Leverage Ratio is in excess of 4.5 to
1.0 or (ii) that has an Annualized Disposition Cash Flow Value (as defined below), for the period ended on the last day of the
fiscal quarter most recently ended that is greater than five percent (5%) of the Annualized EBITDA of Borrower and its Restricted
Subsidiaries, on a consolidated basis, for the same period. The “Annualized Disposition Cash Flow Value” is an amount
equal to (a) the Annualized EBITDA of the assets comprising the Subject Disposition less (b) the Annualized EBITDA of any assets
acquired by Borrower or any Restricted Subsidiary (other than from Borrower or any Restricted Subsidiary) in connection with the
Subject Disposition.

 

“Materially Adverse Amendment”
means a modification, amendment or waiver to or of the terms or conditions of any Target Acquisition Document that is, when compared
to the terms and conditions that are included in the initial Rule 2.7 Announcement, materially prejudicial to the interests of
the Lenders (taken as a whole), it being acknowledged that (a) a waiver of a pre-condition which then becomes a condition to be
satisfied in connection with the Target Acquisition or an increase to the price of the Target Acquisition would not be materially
prejudicial to the interests of the Lenders (taken as a whole), and (b) any modification, amendment or waiver required by the Takeover
Code, the Panel, any other competent regulatory body or by a court of competent jurisdiction shall not be a Materially Adverse
Amendment.

 

“Minimum Amount” means,
with respect to each of the following actions, the minimum amount and any multiples in excess thereof set forth opposite such action:

 

 

 

	Type
    of Action	Minimum
    Amount	Multiples
    in excess thereof
	Borrowing or prepayment
        of, or Conversion into, Base RateABR

         
	$10,000,000	$1,000,000

 

     22

     

    

	Loans	 	 
	
        Borrowing, prepayment or 

        Continuation of, or Conversion

        

        into, Eurodollar Rate Loans 
	
        $10,000,000

        and, in the case of Loans

        denominated in a currency other

        than Dollars, as applicable:

        

        C$10,000,000

        €10,000,000

        £10,000,000

        ¥1,000,000,000
	
        $1,000,000

        and, in the case of Loans

        denominated in a currency other

        than Dollars, as applicable:

        C$1,000,000

        €1,000,000

        £1,000,000

        ¥100,000,000

	Borrowing of Competitive Loans	$10,000,000	$1,000,000
	Letter of Credit Action	$5,000	None
	
        Reduction in Revolving 

        Commitments 
	$25,000,000	$5,000,000
	Assignments	
        $5,000,000

        and, in the case of Loans

        denominated in a currency other

        than Dollars, as applicable:

        C$5,000,000

        €5,000,000

        £5,000,000

        ¥500,000,000
	None

 

“Moody’s” means
Moody’s Investors Service, Inc., or its successor, or if it is dissolved or liquidated or no longer performs the functions
of a securities rating agency, such other nationally recognized securities rating agency agreed upon by Borrower and Administrative
Agent and approved by Required Lenders.

 

“Multiemployer Plan”
means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA.

 

“New Extending Lender” has the meaning
set forth in Section 2.01(e).

 

“New Lender” has the meaning set forth
in Section 2.01(c).

 

“New Lender Supplement” has the meaning
set forth in Section 2.01(c).

 

“Non-Excluded Taxes” has the meaning set
forth in Section 3.01(a).

 

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

 

“Notice Date” has the meaning set forth
in Section 2.01(e).

 

“NYFRB” means the Federal Reserve Bank
of New York.

 

“NYFRB
Rate” means, for any day, the greater of (a) the Federal Funds Rate in effect
on such day and (b) the Overnight Bank Funding Rate in effect on such day (or for any day that is
not a Business Day, for the immediately preceding Business Day); provided that if none of such
rates are published for any day that is a Business Day, the term “NYFRB Rate” means the rate for a federal funds transaction
quoted at 11:00 a.m. on such day received by the Administrative Agent from a federal funds

 

 

 

     23

     

    

broker of recognized standing selected
by it; provided, further, that if any of the aforesaid rates as so determined be less than zero, such rate shall be deemed to be
zero for purposes of this Agreement.

 

“Obligations” means all
advances to, and debts, liabilities, and payment obligations of, Borrower arising under any Loan Document, 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 that accrues after the commencement of any proceeding under any Debtor Relief Laws by or against Borrower.

 

“Offer” means
a public offer by, or made on behalf of, Borrower in accordance with the Takeover Code and the provisions of the Companies Act
for Borrower (or a Subsidiary thereof, including Bidco) to acquire all of the shares of the Target not owned, held or agreed to
be acquired by Borrower (or a Subsidiary thereof, including Bidco).

 

“Offer Documents” means
(a) any Offer Press Release, (b) any document published in accordance with the Takeover Code pursuant to which an Offer is made
to the shareholders of the Target (including, without limitation, any revision to an Offer and any alternative Offer) and (c) any
other document designated in writing as such by Borrower and Administrative Agent.

 

“Offer
Press Release” means a press release announcing, in compliance with Rule 2.7, a firm intention to make an Offer or, as the
case may be, a switch to an Offer in accordance with Section 8 of Appendix 7 to the Takeover Code.

 

“Other Taxes” has the meaning set forth
in Section 3.01(b).

 

“Outstanding Revolving Obligations”
means, as of any date, and giving effect to making any Extension of Credit requested on such date and all payments, repayments
and prepayments made on such date, (a) when reference is made to all Lenders, the sum of (i) the aggregate outstanding principal
amount of all Revolving Loans and (ii) all Letter of Credit Usage, and (b) when reference is made to one Lender, the sum of (i)
the aggregate outstanding principal amount of all Revolving Loans made by such Lender and (ii) such Lender’s ratable participation
in all Letter of Credit Usage.

 

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

 

“Panel”
means The Panel on Takeovers and Mergers established in 1968 and designated as the supervisory authority in the United Kingdom
to carry out certain regulatory functions in relation to takeovers pursuant to the EU Directive on Takeover Bids (2004/25/EC).

 

“Participant Register” has the meaning set
forth in Section 10.04(d).

 

“PATRIOT Act” has the meaning set forth
in Section 10.24.

 

“PBGC” means the Pension
Benefit Guaranty Corporation or any successor thereto established under ERISA.

 

“Permanent Financing” means the
issuance of debt securities by Borrower or a Subsidiary thereof, through a public offering or in a private placement, the proceeds
of which are used (in

 

 

 

     24

     

    

whole or in part) to consummate the Target Acquisition
or to replace or refinance some or all of the Bridge Loans.

 

“Person” means any individual,
trustee, corporation, general partnership, limited partnership, limited liability company, joint stock company, trust, unincorporated
organization, bank, business association, firm, joint venture or Governmental Authority.

 

“Plan” means any “employee
pension benefit plan” (as such term is defined in Section 3(2) of ERISA), other than a Multiemployer Plan, that is subject
to Title IV of ERISA and is sponsored or maintained by Borrower or any ERISA Affiliate or to which Borrower or any ERISA Affiliate
contributes or has an obligation to contribute, or in the case of a multiple employer plan (as described in Section 4064(a) of
ERISA) has made contributions at any time during the immediately preceding five plan years.

 

“Platform” means Debt
Domain, Intralinks, Syndtrak or a substantially similar electronic transmission system.

 

“Prime Rate” means
the rate of interest last quoted by The Wall Street Journal as the “Prime Rate” in the U.S. or, if The Wall Street
Journal ceases to quote such rate, the highest per annum interest rate published by the Federal Reserve Board in Federal Reserve
Statistical Release H.15 (519) (Selected Interest Rates) as the “bank prime loan” rate or, if such rate is no longer
quoted therein, any similar rate quoted therein (as determined by the Administrative Agent) or any similar release by the Federal
Reserve Board (as determined by the Administrative Agent). Each change in the Prime Rate shall be effective from and including
the date such change is publicly announced or quoted as being effective.

 

“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.

 

“Reference Statements” means the financial
statements described in Section 4.01(d).

 

“Refund Repayment Requirement” has the meaning
set forth in Section 3.01(e).

 

“Register” has the meaning set forth in
Section 2.07(b).

 

“Request for Extension of Credit”
means, unless otherwise specified herein, (a) with respect to a Borrowing, Conversion or Continuation of Loans (other than Competitive
Loans), a written request substantially in the form of Exhibit B, (b) with respect to a Letter of Credit Action, a Letter of Credit
Application, duly completed and signed by a Responsible Officer of Borrower and delivered by Requisite Notice and (c) with respect
to a Borrowing of Competitive Loans, a Competitive Bid Request, duly completed and signed by a Responsible Officer of Borrower
and delivered by Requisite Notice.

 

“Required Lenders” means,
as of any date of determination, Lenders (excluding any Lender that is a Defaulting Lender, until all matters that caused such
Lender to be a Defaulting Lender have been remedied) holding more than 50% of: (a) the combined Revolving Commitments (excluding
the Revolving Commitment of any Lender that is a Defaulting Lender, until all matters that caused such Lender to be a Defaulting
Lender have been remedied) then in effect and (b) if the Revolving Commitments have then been terminated and there are Outstanding
Revolving Obligations, the Outstanding Revolving Obligations.

 

“Requisite Notice” means a notice delivered
in accordance with Section 10.02.

 

 

 

     25

     

    

“Requisite Time” means, with respect
to any of the actions listed below, the time and date set forth below opposite such action:

 

	Type of Action	Applicable Time	Date of Action
	Delivery of Request for Extension of Credit for, or notice for, or determination of any ScreenEurodollar Rate related to:	 	 
	Borrowing or prepayment of Base RateABR Loans	11:00 a.m.	Same Business Day as such Loans Borrowing or prepayment
	Conversion into Base RateABR Loans	11:00 a.m.	Same Business Day as such Conversion
	Borrowing, prepayment or Continuation of, or Conversion into, Eurodollar Rate Loans (other than Competitive Loans) denominated in Canadian Dollars, and CDOR Screen Rate	10:00 a.m.	
        3 Business Days prior to such prepayment, Borrowing, Continuation
        or Conversion

         

        Determination of a CDOR
        Screen Rate at 11:3010:15
        a.m. 2 Business Days prior to the requested Borrowing, Continuation or ConversionToronto
        local time on the first day of the applicable Interest Period and, if such day is not a Business Day, then on the immediately preceding
        Business Day

        

	Borrowing, prepayment or Continuation of, or Conversion into, Eurodollar Rate Loans (other than Competitive Loans) denominated in Dollars 	11:00 a.m.	
        3 Business Days prior to such prepayment, Borrowing, Continuation
        or Conversion

         

        Determination of a LIBO
        Screen Rate at 11:00 a.m. (London Time) 2 Business Days prior to the requested Borrowing, Continuation or Conversion

         

	Borrowing, prepayment or Continuation of, or Conversion into, Eurodollar Rate Loans (other than Competitive Loans) denominated in Euros, and EURIBOR Screen Rate	10:00 a.m.	
        3 Business Days prior to such prepayment, Borrowing, Continuation
        or Conversion

         

        Determination of a EURIBOR
        Screen Rate 11:00 a.m. (London Time) 2 Business DaysBrussels
        time two TARGET days prior to the requested Borrowing, Continuation or
        Conversioncommencement of such Interest
        Period

        

 

 

     26

     

    

 

	Type of Action	Applicable Time	Date of Action
	Borrowing, prepayment or Continuation of, or Conversion into, Eurodollar Rate Loans (other than Competitive Loans) denominated in Sterling 	10:00 a.m.	
        3 Business Days prior to such prepayment, Borrowing, Continuation
        or Conversion

         

        Determination of a LIBO
        Screen Rate 11:00 a.m. (London Time) on the first Business Day of such requested Borrowing, Continuation or Conversion

         

	Borrowing, prepayment or Continuation of, or Conversion into, Eurodollar Rate Loans (other than Competitive Loans) denominated in Yen	10:00 a.m.	
        4 Business Days prior to such prepayment, Borrowing, Continuation
        or Conversion

         

        Determination of a LIBO
        Screen Rate 11:00 a.m. (London Time) 2 Business Days prior to the requested Borrowing, Continuation or Conversion

         

	Letter of Credit Action	11:00 a.m.	2 Business Days prior to such action (or such lesser time as is acceptable to an Issuing Lender)
	Voluntary reduction in or termination of Revolving Commitments	11:00 a.m.  	3 Business Days prior to such reduction or termination
	Payments by Lenders or Borrower to Administrative Agent (other than Payments by Lenders to Administrative Agent of Base RateABR Loans) 	1:00 p.m.	On the date payment is due
	Payments by Lenders to Administrative Agent of Base RateABR Loans	2.00 p.m.	On the date payment is due 
	Borrowing of Fixed Rate Loans	11:00 a.m.	1 Business Days prior to such Borrowing
	Borrowing of Competitive Loans that are Eurodollar Rate Loans	11:00 a.m.	4 Business Days prior to such Borrowing

 

“Responsible Officer” means, as
to any Person, the president, any vice president, the controller, the chief financial officer, the treasurer or any assistant treasurer
of such Person. Any document or certificate hereunder that is signed by a Responsible Officer of a particular Loan Party shall
be conclusively presumed to have been authorized by all necessary corporate 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.

 

“Restricted Group” means, collectively,
Borrower and the Restricted Subsidiaries.

 

“Restricted Subsidiary” means each Subsidiary
of Borrower that is not an Unrestricted Subsidiary.

 

 

 

     27

     

    

“Revolving Commitment” means,
for each Lender, the amount set forth under the heading “Revolving Commitment” opposite such Lender’s name on
Schedule 2.01 or in the Assignment and Assumption or New Lender Supplement pursuant to which such Lender became a party to this
Agreement, as such amount may be reduced or adjusted from time to time in accordance with the terms of this Agreement (collectively,
the “combined Revolving Commitments”). As of the Amendment No. 2 Effective
Date, the amount of the Revolving Commitments of all Lenders is $7,000,000,0007,611,000,000.

 

“Revolving Commitment Period”
means the period from and including the Effective Date to the Revolving Termination Date, the Extended Revolving Termination Date
or the Second Extended Revolving Termination Date, as applicable.

 

“Revolving Facility”
means the Revolving Commitments and the Extensions of Credit made thereunder.

 

“Revolving Loans” has the meaning set forth
in Section 2.01.

 

“Revolving Percentage”
means, as to any Lender at any time, the percentage which such Lender’s Revolving Commitment then constitutes of the combined
Revolving Commitments or, at any time after the Revolving Commitments shall have expired or terminated, the percentage which the
aggregate principal amount of such Lender’s Revolving Loans then outstanding constitutes of the aggregate principal amount
of the Revolving Loans then outstanding.

 

“Revolving Termination Date”
means (a) the fifth anniversary of the Effective Date; provided that with respect to the Revolving Commitments, if any,
that are extended pursuant to Section 2.01(e), the Revolving Termination Date shall mean the Extended Revolving Termination Date
or the Second Extended Revolving Termination Date, as applicable, or (b) such earlier date upon which the combined Revolving Commitments
may be terminated in accordance with the terms of this Agreement.

 

“Rule 2.7” means Rule 2.7 of the Takeover
Code.

 

“Rule 2.7 Announcement”
means (in relation to a Scheme) a Scheme Press Release or (in relation to an Offer) an Offer Press Release.

 

“S&P” means Standard
& Poor’s Ratings Services, a division of S&P Global, Inc., or its successor, or if it is dissolved or liquidated
or no longer performs the functions of a securities rating agency, such other nationally recognized securities rating agency agreed
upon by Borrower and Administrative Agent and approved by Required Lenders.

 

“Sale -Leaseback Transaction”
means any arrangement whereby Borrower or any Restricted Subsidiary shall sell or transfer any property, real or personal, used
or useful in its business, whether now owned or hereafter acquired, and thereafter rent or lease property that it intends to use
for substantially the same purpose or purposes as the property sold or transferred.

 

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

 

 

 

     28

     

    

“Sanctioned
Country” means, at any time, a country, region or territory which is itself the subject or target of any Sanctions (at the
time of this Agreement, Crimea, Cuba, Iran, North Korea and Syria).

 

“Sanctioned Person” means,
at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets
Control of the U.S. Department of the Treasury, the U.S. Department of State, or by the United Nations Security Council, the European
Union, or Her Majesty’s Treasury of the United Kingdom (b) any Person located, organized or resident in a Sanctioned Country
(except any U.S. Person with a location in a Sanctioned Country pursuant to an OFAC license), or (c) any Person owned fifty percent
or more or Controlled by any Person or Persons described in clause (a) or (b).

 

“Scheme” means a scheme
of arrangement made pursuant to Part 26 of the Companies Act between the Target and the holders of the Target shares in relation
to the transfer of the entire issued share capital of the Target to Bidco (or another Subsidiary of Borrower) as contemplated by
a Scheme Circular (as such Scheme Circular may be amended in accordance with the terms of this Agreement) as such Scheme may from
time to time be amended, added to, revised, renewed or waived in accordance with this Agreement.

 

“Scheme Circular” means
any circular to the shareholders of the Target to be issued by the Target setting out the proposals for any Scheme.

 

“Scheme Documents” means
(a) any Scheme Press Release, (b) the Scheme Circular (if any) and (c) any other document designated in writing as such by Borrower
and Administrative Agent.

 

“Scheme Effective Date”
means the date on which a copy of the High Court order sanctioning a Scheme is duly filed on behalf of the Target with the Registrar
of Companies in accordance with section 899 of the Companies Act.

 

“Scheme Press Release”
means a press release to be issued by or on behalf of Borrower or the Target announcing, in compliance with Rule 2.7, a firm intention
to make an offer which is to be implemented by means of a Scheme or, as the case may be, a switch to a Scheme in accordance with
Section 8 of Appendix 7 of the Takeover Code.

 

“Screen Rate” means:

 

(a) 
in relation to CDOR, with respect to any Interest
Period, (i) the annual rate of interest determined with reference
to the arithmetic average of the discount rate quotations of all institutions listed for Canadian Dollar-denominated bankers’
acceptances with a tenor equal to such Interest Period displayed
and identified as such on the CDOR page of the Reuters screen (or on any successor or substitute
page on such screen or service that displays such rate, or on
the appropriate page of such other information service that publishes such rate as shall be selected
by Administrative Agent from time to time in its reasonable discretion) as of the applicable
Requisite Time for such Interest Period (as adjusted by Administrative Agent after the Requisite
Time to reflect any error in the posted rate of interest or in the posted average annual rate of interest);

 

(b) 
in relation to EURIBOR, the euro interbank offered rate administered by the Banking Federation of the European Union (or
any other Person which takes over the administration of that rate) for the relevant period displayed on page EURIBOR01 of the Reuters
screen (or any replacement Reuters page which displays that rate, or, in the
event such rate does not appear on a 

 

 

 

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Reuters page
or screen, on any successor or substitute page on such screen
that displays such rate, or on the appropriate page of such other information service that publishes such rate from time to time
as selected by Administrative Agent in its reasonable discretion)
as of the applicable Requisite Time for such Interest Period; and

 

(c)
in relation to any Borrowing, Continuation or Conversion of a Loan denominated in Dollars, Sterling or Yen,
the London interbank offered rate as administered by the ICE Benchmark Administration Limited (or
any other person which takes over the administration of that rate) for the applicable
currency as appearing on the Reuters Screen LIBOR01 Page or Reuters Screen LIBOR02 Page (or,
in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page on such screen that displays
such rate, or on the appropriate page of such other information service that publishes such rate from time to time as selected
by Administrative Agent in its reasonable discretion for deposits in the applicable currency) (for
delivery on the first day of such Interest Period) with a term equivalent to such Interest Period as of the applicable Requisite
Time for such Interest Period;

 

provided, however,
that if any Screen Rate shall be less than zero, such
Screen Rate shall be deemed to be zero for purposes of this Agreement

 

“Second Extended Revolving Termination Date”
has the meaning set forth in Section 2.01(e).

 

“Significant Subsidiary”
means (i) for so long as each shall remain a Guarantor hereunder Comcast Cable Communications, LLC and NBCUniversal Media, LLC
and (ii) any other Restricted Subsidiary whose Annualized EBITDA was greater than 5% of the Annualized EBITDA of Borrower and its
Restricted Subsidiaries, on a consolidated basis, for the period of two fiscal quarters ended on the last day of the fiscal quarter
most recently ended, or whose assets comprised more than 5% of the total assets of Borrower and its Restricted Subsidiaries, on
a consolidated basis, as of the last day of the fiscal quarter most recently ended.

 

“Statutory
Reserve Rate” means a fraction (expressed as a decimal), the numerator of which
is the number one and the denominator of which is
the number one minus the aggregate of the maximum reserve percentage (including any marginal, special, emergency or supplemental
reserves) expressed as a decimal established by the Federal Reserve Board to which the Administrative Agent is subject with respect
to the Adjusted LIBO Rate, for eurocurrency funding (currently referred to as “Eurocurrency liabilities” in Regulation
D). Such reserve percentage shall include those imposed pursuant to Regulation D. Eurodollar Rate Loans shall be deemed to constitute
eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets
that may be available from time to time to any Lender under Regulation D or any comparable regulation. The Statutory Reserve Rate
shall be adjusted automatically on and as
of the effective date of any change in any reserve percentage.

 

“Sterling” and “£” means
lawful money of the United Kingdom.

 

“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 securities or other interests having ordinary voting power for the election of directors or other governing body (other
than securities or interests having such power only by reason of the happening of a contingency) are at the time beneficially owned,
directly or indirectly, through one or more intermediaries, or both, by such Person.

 

 

 

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Unless otherwise specified, all references to a “Subsidiary”
or to “Subsidiaries” in this Agreement shall refer to a Subsidiary or Subsidiaries of Borrower.

 

“Syndication Agent” has the meaning set
forth in the introductory paragraph hereto.

 

“Takeover Code” means the City Code on
Takeovers and Mergers (as amended) issued by the Panel.

 

“TARGET” means the Trans-European
Automated Real-time Gross settlement Express Transfer system.

 

“Target” means Sky plc, incorporated in
England and Wales with registered number 02247735.

 

“Target Acquisition” means
the acquisition by Borrower or one of its Subsidiaries (which may include Bidco) of at least a majority of the share capital of
the Target. For the avoidance of doubt, the Target Acquisition may, at Borrower’s election, involve acquisition of greater
than a majority of the share capital of the Target and may be consummated in several stages.

 

“Target Acquisition Documents”
means any Rule 2.7 Announcement, any Offer Documents, any Scheme Documents and any other document designated in writing by Borrower
and Administrative Agent as a “Target Acquisition Document” from time to time.

 

“Target Group” means the Target and its
Subsidiaries.

 

“Term Loan
Credit Agreement” means that certain Term Loan Credit Agreement dated as of April 25, 2018, by and among Comcast Corporation,
the lenders party thereto, Bank of America, N.A., as administrative agent, and Wells Fargo Bank, National Association, as syndication
agent.

 

“Term Loan Documents”
means the Loan Documents (as defined in the Term Loan Credit Agreement).

 

“Term Loans” means the Loans (as defined
in the Term Loan Credit Agreement).

 

“Threshold Amount” means $500,000,000.

 

“Transaction Costs” means
all fees, costs and expenses incurred or payable by Borrower or any of its Subsidiaries in connection with the Transactions.

 

“Transactions” means, collectively,
(a) the execution, delivery and performance by each Loan Party of the Term Loan Documents to which it is to be a party and the
borrowing of the Term Loans on the Initial Term Closing Date or at any time thereafter, (b) the execution, delivery and performance
by each Loan Party of the Bridge Loan Documents to which it is to be a party and the borrowing of the Bridge Loans on the Initial
Bridge Closing Date or at any time thereafter, (c) the execution, delivery and performance by each Loan Party of Amendment No.
1 and any related documents, (d) any Permanent Financing transaction and/or the incurrence of any other interim financing for the
Target Acquisition and any refinancing thereof, (e) the consummation of the Target Acquisition (including any acquisition of Target
shares after the Amendment No. 1 Effective Date) and (f) the payment of the Transaction Costs.

 

 

 

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“type”
of Loan means (a) as to any Revolving Loan, its nature as a Base Rate ABR
Loan or a Eurodollar Rate Loan and (b) as to any Competitive Loan, its nature as a Eurodollar Rate Loan or a Fixed Rate Loan.

 

“Unrestricted Subsidiary”
means any Subsidiary of Borrower designated as an “Unrestricted Subsidiary” from time to time in accordance with Section
6.08. Until so designated, each Subsidiary of Borrower shall be a Restricted Subsidiary.

 

“U.S. Tax Compliance Certificate” has the
meaning set forth in Section 10.20(a).

 

“Write-Down and Conversion Powers”
means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from
time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described
in the EU Bail-In Legislation Schedule.

 

“Yen” and “¥” means lawful
money of Japan.

 

		1.02	Use of Certain Terms.

 

(a) 
All terms defined in this Agreement shall have the defined meanings when used in any certificate or other document made
or delivered pursuant hereto or thereto, unless otherwise defined therein.

 

(b) 
As used herein, unless the context requires otherwise, the masculine, feminine and neuter genders and the singular and plural
include one another.

 

(c) 
The words “herein” and “hereunder” and words of similar import when used in any Loan Document shall
refer to the applicable Loan Document as a whole and not to any particular provision thereof. The term “including”
is by way of example and not limitation. References herein to a Section, subsection or clause shall, unless the context otherwise
requires, refer to the appropriate Section, subsection or clause in this Agreement.

 

(d) 
The term “or” is disjunctive; the term “and” is conjunctive. The term “shall” is mandatory;
the term “may” is permissive.

 

1.03  
Accounting Terms. All accounting terms not specifically or completely defined in this Agreement shall be construed
in conformity with, and all financial data required to be submitted by this Agreement shall be prepared in conformity with, GAAP
applied on a consistent basis, as in effect from time to time in the United States; provided that if Borrower notifies Administrative
Agent that Borrower requests an amendment to any provision hereof to eliminate the effect of any change occurring after the Effective
Date in GAAP or in the application thereof on the operation of such provision, then (a) regardless of whether such any such notice
is given before or after such change in GAAP or the application thereof, then such provision shall be interpreted on the basis
of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn
or such provision amended in accordance herewith and (b) Administrative Agent and Borrower shall negotiate in good faith to determine
such adjustments and amendments to the applicable terms and definitions as to make them consistent with the intent hereof, and
promptly upon Borrower and Administrative Agent reaching such agreement, Administrative Agent shall notify Lenders of such adjustments
and amendments, which shall be conclusive and effective as amendments hereunder, unless Required Lenders object to such adjustments
within 30 days of receipt of notice.

 

 

 

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Each Compliance Certificate shall
be prepared in accordance with this Section 1.03, except for the exclusion of Unrestricted Subsidiaries from the calculations therein.
Notwithstanding anything to the contrary contained herein, references herein to “Borrower and its Restricted Subsidiaries
on a consolidated basis” shall be deemed to refer to Borrower and its Restricted Subsidiaries without taking into account
the results or financial position of any Unrestricted Subsidiary and without taking into account any interest of Borrower or any
of its Restricted Subsidiaries in any Unrestricted Subsidiary. Without limiting the foregoing, for purposes of determining compliance
with any provision of this Agreement and any related definitions, the determination of whether a lease is to be treated as an operating
lease or capital lease shall be made without giving effect to any change in GAAP that becomes effective on or after the date hereof
that would require operating leases to be treated similarly to capital leases, including as a result of the implementation of proposed
ASU Topic 840, or any successor or similar proposal. Notwithstanding any other provision contained herein, all terms of an accounting
or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made,
without giving effect to any election under Financial Accounting Standards Board Accounting Standards Codification 825 (or any
other Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities of Borrower
or any Subsidiary at “fair value”, as defined therein.

 

1.04 Rounding. Any financial
ratios required to be maintained by 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 in this
Agreement and rounding the result up or down to the nearest number (with a round-up if there is no nearest number) to the number
of places by which such ratio is expressed in this Agreement.

 

1.05 Exhibits
and Schedules. All exhibits and schedules to this Agreement, either as originally existing or as the same may from time to
time be supplemented, modified or amended, are incorporated herein by this reference. A matter disclosed on any Schedule shall
be deemed disclosed on all Schedules.

 

1.06 References to Agreements
and Laws. Unless otherwise expressly provided herein, (a) references to agreements (including the Loan Documents) and other
contractual instruments shall include all amendments, restatements, extensions, supplements and other modifications thereto (unless
prohibited by any Loan Document), and (b) references to any Law shall include all statutory and regulatory provisions consolidating,
amending, replacing, supplementing or interpreting such Law.

 

1.07 Pro Forma Calculations
.. For the purposes of calculating Annualized EBITDA of Borrower and its Restricted Subsidiaries, on a consolidated basis, for any
period (a “Test Period”), (i) if at any time from the period commencing on the first day of such Test Period and ending
on the last day of such Test Period (or, in the case of any pro forma calculation required to be made pursuant hereto in respect
of the designation of a Restricted Subsidiary as an Unrestricted Subsidiary that is a Material Disposition or the designation of
an Unrestricted Subsidiary as a Restricted Subsidiary that is a Material Acquisition, ending on the date such Material Disposition
or Material Acquisition is consummated after giving effect thereto), Borrower or any Restricted Subsidiary shall have made any
Material Disposition, the Annualized EBITDA for such Test Period shall be reduced by an amount equal to the Annualized EBITDA (if
positive) for such Test Period attributable to the assets which are the subject of such Material Disposition or increased by an
amount equal to the Annualized EBITDA (if negative) for such Test Period attributable to such assets; (ii) if during such Test
Period Borrower or any Restricted Subsidiary shall have made a Material Acquisition, Annualized EBITDA of Borrower and its Restricted
Subsidiaries, on a consolidated basis, for such Test Period shall be calculated after giving pro forma effect thereto (including
the incurrence or assumption of any Indebtedness in connection therewith) as if such Material Acquisition (and the incurrence or
assumption of any such

 

 

 

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Indebtedness) occurred on the first day of such Test
Period; and (iii) if during such Test Period any Person that subsequently became a Restricted Subsidiary or was merged with or
into Borrower or any Restricted Subsidiary since the beginning of such Test Period shall have entered into any Material Disposition
or Material Acquisition that would have required an adjustment pursuant to clause (i) or (ii) above if made by Borrower or a Restricted
Subsidiary during such Test Period, Annualized EBITDA of Borrower and its Restricted Subsidiaries, on a consolidated basis, for
such Test Period shall be calculated after giving pro forma effect thereto as if such Material Disposition or Material Acquisition
occurred on the first day of such Test Period. For the purposes of this section, whenever pro forma effect is to be given to a
Material Disposition or Material Acquisition and the amount of income or earnings related thereto, the pro forma calculations shall
be determined in good faith by a Responsible Officer of Borrower. Comparable adjustments shall be made in connection with any determination
of Annualized EBITDA.

 

1.08
Interest Rates; LIBOR Notification. The interest rate on Eurodollar Rate Loans is determined by reference to the LIBO Rate, which
is derived from the London interbank offered rate. The London interbank offered rate is intended to represent the rate at which
contributing banks may obtain short-term borrowings from each other in the London interbank market. In July 2017, the U.K. Financial
Conduct Authority announced that, after the end of 2021, it would no longer persuade or compel contributing banks to make rate
submissions to the ICE Benchmark Administration (together
with any successor to the ICE Benchmark Administrator, the “IBA”) for purposes of the IBA setting the London interbank
offered rate. As a result, it is possible that commencing in 2022, the London interbank offered rate may no longer be available
or may no longer be deemed an appropriate reference rate upon which to determine the interest rate on Eurodollar Rate Loans. In
light of this eventuality, public and private sector industry initiatives are currently underway to identify new or alternative
reference rates to be used in place of the London interbank offered rate. In the event that the London interbank offered rate is
no longer available or in certain other circumstances as set forth in Section 3.03(b) of this Agreement, such Section 3.03(b) provides
a mechanism for determining an alternative rate of interest. The Administrative Agent will notify the Borrower, pursuant to Section
3.03, in advance of any change to the reference rate upon which the interest rate on Eurodollar
Rate Loans is based. However, the Administrative Agent does not warrant or accept any responsibility
for, and shall not have any liability with respect to, the administration, submission or any other matter related to the London
interbank offered rate or other rates in the definition of “LIBO
Rate” or with respect to any alternative or successor rate thereto, or replacement rate thereof, including without limitation,
whether the composition or characteristics of any such alternative, successor or replacement reference rate, as it may or may not
be adjusted pursuant to Section 3.03(b), will be similar to, or produce the same value or economic equivalence of, the LIBO Rate
or have the same volume or liquidity as did the London interbank offered rate prior to its discontinuance or unavailability.

 

SECTION 2

 

THE REVOLVING COMMITMENTS AND EXTENSIONS OF CREDIT

 

		2.01	Amount and Terms of Revolving Commitments.

 

(a) 
Subject to the terms and conditions set forth in this Agreement, during the Revolving Commitment Period, each Lender severally
agrees to make, Convert and Continue revolving credit loans (“Revolving Loans”) in Dollars or any Alternative Currency
in such amounts as Borrower may from time to time request; provided, however, that (i) the Dollar Amount of the Outstanding
Revolving Obligations of each Lender shall not exceed such Lender’s Revolving Commitment at any time, (ii) the Dollar Amount
of the Outstanding Revolving Obligations of all Lenders plus the aggregate principal amount of all outstanding Competitive Loans
shall not exceed the combined Revolving Commitments at any time.

 

 

 

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The Revolving Facility is a revolving credit and, subject
to the foregoing and the other terms and conditions hereof, Borrower may borrow, Convert, Continue, prepay and reborrow Revolving
Loans as set forth herein without premium or penalty.

 

(b) 
At any time after the Effective Date, Borrower and any one or more Lenders (including any New Lender) may agree that such
Lender or Lenders shall make or increase the amount of their Revolving Commitments by executing and delivering to Administrative
Agent an Increased Revolving Commitment Activation Notice specifying the amount of such increase or new Revolving Commitment and
the applicable Increased Revolving Commitment Closing Date. Notwithstanding the foregoing, (i) at no time may the combined Revolving
Commitments exceed $10,000,000,000, (ii) Revolving Commitments may not be made or increased after the occurrence of a Default or
Event of Default that is continuing, including after giving effect to the incremental Revolving Commitments in question, and (iii)
any increase effected pursuant to this Section 2.01(b) shall be in a minimum amount of at least $25,000,000. No Lender shall have
any obligation to participate in any increase described in this Section 2.01(b) unless it agrees to do so in its sole discretion.

 

(c) 
Any additional bank or financial institution (each, a “New Lender”) that, in the case of an institution
that is not an Affiliate of a then-existing Lender, with the consent of Administrative Agent and each Issuing Lender (which consent,
in each case, shall not be unreasonably withheld), elects to become a “Lender” under this Agreement in connection with
an increase described in Section 2.01(b) shall execute a New Lender Supplement (each, a “New Lender Supplement”),
substantially in the form of Exhibit E-1, whereupon such bank or financial institution shall become a Lender for all purposes and
to the same extent as if originally a party hereto and shall be bound by and entitled to the benefits of this Agreement.

 

(d) 
On each Increased Revolving Commitment Closing Date on which there are Revolving Loans outstanding, each Lender (including
any New Lender) that has made or increased its Revolving Commitment shall make a Revolving Loan, the proceeds of which will be
used to prepay the Revolving Loans of other Lenders, so that, after giving effect thereto, the resulting Revolving Loans outstanding
are allocated among the Lenders on a pro rata basis based on the respective Revolving Percentages of the Lenders after giving effect
to the increase of Revolving Commitments pursuant to Section 2.01(b) on such Increased Revolving Commitment Closing Date.

 

(e) 
Borrower shall repay (i) all outstanding Revolving Loans made to it and all amounts funded by the Lenders as cash collateral
pursuant to Section 2.03(d) on the Revolving Termination Date, the Extended Revolving Termination Date or the Second Extended Revolving
Termination Date, as applicable, and (ii) the then unpaid principal amount of each Competitive Loan made to it on the last day
of the Interest Period applicable to such Loan. Borrower may request that the Revolving Commitments and Letter of Credit Commitments
be extended for additional one-year periods by providing written notice to Administrative Agent (“Notice Date”) not
more than two times prior to the Revolving Termination Date or the Extended Revolving Termination Date, as applicable. If a Lender
or a New Lender agrees, in its individual and sole discretion, to extend its Revolving Commitments and/or Letter of Credit Commitments
(such Lender or New Lender, an “Extending Lender” or “New Extending Lender”, as the case may be), it will
notify Administrative Agent in writing of its decision to do so and the maximum amount of Revolving Commitments and, if applicable,
Letter of Credit Commitments it agrees to so extend no later than 30 days after the applicable Notice Date, which notice shall
be irrevocable. Administrative Agent will notify Borrower, in writing, of the Lenders’ decisions no later than 35 days after
the applicable Notice Date (“Extension Effectiveness Date”). As of the Extension Effectiveness Date, the Extending
Lenders’ and the New Extending Lenders’ Revolving Commitments and Letter of Credit Commitments will be extended for
an additional year from the Revolving Termination Date (the “Extended Revolving Termination Date”) or the Extended
Revolving Termination

 

 

 

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Date (the “Second Extended Revolving Termination Date”),
as applicable; provided that (i) more than 50% of the aggregate Revolving Commitments outstanding on the applicable Extension
Effectiveness Date are extended or otherwise committed to by Extending Lenders and any New Extending Lenders (ii) no Default or
Event of Default shall have occurred and be continuing on the applicable Extension Effectiveness Date after giving effect to the
requested extension and (iii) the remaining tenor of Revolving Commitments of any Extending Lender and any New Extending Lender
shall not exceed five years from the applicable Extension Effectiveness Date after giving effect to the requested extension. No
Lender shall be required to consent to any such extension request, and any Lender that declines or does not respond in writing
to Borrower’s request for commitment renewal (a “Declining Lender”) will have its Revolving Commitments
and Letter of Credit Commitment terminated on the then-existing Revolving Termination Date or Extended Revolving Termination Date,
as applicable (without regard to any renewals by other Lenders). Borrower will have the right to remove or replace any Declining
Lenders in accordance with Section 10.21.

 

		2.02	Procedure for Revolving Loan Borrowings.

 

(a) 
Borrower may request a Borrowing of Revolving Loans on any Business Day in a Minimum Amount therefor by delivering a Request
for Extension of Credit therefor by Requisite Notice to Administrative Agent not later than the Requisite Time therefor. All Borrowings
denominated in Dollars shall constitute Base RateABR
Loans unless properly and timely otherwise designated as set forth in the prior sentence. All Borrowings denominated in any Alternative
Currency shall constitute Eurodollar Base Rate Loans. Each Competitive Loan shall
be made in accordance with the procedures set forth in Section 2.04. Notwithstanding anything herein to the contrary, any request
for a Certain Funds Credit Extension may be revocable or made contingent on the closing of the Target Acquisition (or a portion
of the Target Acquisition, including any acquisition of Target shares during the Certain Funds Period); provided that any
request for a Certain Funds Credit Extension shall certify that the proceeds thereof shall be used solely for Certain Funds Purposes.

 

(b) 
Following receipt of a Request for Extension of Credit, Administrative Agent shall promptly notify each Lender by Requisite
Notice of its Revolving Percentage thereof. Each Lender (subject to clause (d) below) shall make the funds for its Revolving Loan
available to Administrative Agent in the requested currency at Administrative Agent’s Office not later than the Requisite
Time therefor on the Business Day specified in such Request for Extension of Credit. Upon satisfaction of the applicable conditions
set forth in Section 4.02, all funds so received shall be made available to Borrower in like funds received.

 

(c) 
The failure of any Lender to make any Revolving Loan on any date shall not relieve any other Lender of any obligation to
make a Revolving Loan on such date, but the Revolving Commitments and Competitive Bids of the Lenders are several and no Lender
shall be responsible for the failure of any other Lender to so make its Revolving Loan. Borrower shall have the right to replace
any Lender which fails to make a Revolving Loan when obligated to do so in accordance with Section 10.21.

 

(d) 
Each Lender may, at its option, make any Loan available to Borrower by causing any foreign or domestic branch or Affiliate
of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of Borrower to repay
such Loan in accordance with the terms of this Agreement; provided that, for the avoidance of doubt, Borrower shall not
be required to pay a greater amount under the increased costs provisions (including yield protection and taxes) of Section 3 hereof
than it would have paid in the absence of the exercise of such option.

 

		2.03	Letters of Credit.

 

 

 

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(a) 
Subject to the terms and conditions set forth in this Agreement, during the period from and including the Effective Date
to, but not including the Letter of Credit Expiration Date, each Issuing Lender shall take such Letter of Credit Actions denominated
in Dollars or any Alternative Currency as Borrower may from time to time request; provided, however, that (i) the
Outstanding Revolving Obligations of each Lender shall not exceed such Lender’s Revolving Commitment at any time, (ii) the
Outstanding Revolving Obligations of all Lenders plus the aggregate principal amount of all outstanding Competitive Loans shall
not exceed the combined Revolving Commitments at any time, (iii) the Letter of Credit Usage shall not exceed the Letter of Credit
Sublimit at any time and (iv) the Letter of Credit Usage in respect of Letters of Credit issued by each Issuing Lender shall not
exceed the Letter of Credit Commitment of such Issuing Lender at any time. All Existing Letters of Credit shall be deemed to be
Letters of Credit issued hereunder on the Effective Date for the account of Borrower, and the participations therein created pursuant
to the Existing Credit Agreement shall be superseded by participations created by Section 2.03(b) hereof. Subject to subsection
(f) below and unless consented to by the applicable Issuing Lender and Administrative Agent, and except for any Existing Letter
of Credit which expires more than 12 months after the date of its issuance or last renewal, no Letter of Credit may expire more
than 12 months after the date of its issuance or last renewal; provided, however, that (x) subject to clause (y),
no Letter of Credit shall expire after the Business Day which is at least five days prior to the Revolving Termination Date (as
it may be extended) and (y) a Letter of Credit may expire up to the date that is one year after the Revolving Termination Date
(as it may be extended) with the consent of the Issuing Lender in respect thereof (which consent shall not be unreasonably withheld)
so long as Borrower shall, at least 15 days prior to the Revolving Termination Date (as it may be extended) (or for any Letters
of Credit issued after such date, the date of issuance) deposit cash in the Dollar Amount equal to the Letter of Credit Usage applicable
to it in a Letter of Credit Cash Collateral Account. In the event that any Lender’s Commitment terminates prior to an extended
Revolving Termination Date as contemplated by Section 2.01(e), the respective participations of the other Lenders in all outstanding
Letters of Credit shall be redetermined on the basis of their respective Commitments after giving effect to such termination, and
the participation therein of the Lender whose Commitment is terminated shall terminate; provided that Borrower shall, if
and to the extent necessary to permit such redetermination of participations in Letters of Credit within the limits of the Commitments
which are not terminated, prepay on such date all or a portion of the outstanding Revolving Loans, and such redetermination and
termination of participations in outstanding Letters of Credit shall be conditioned upon their having done so. If any Letter of
Credit Usage remains or is expected to remain outstanding on the Revolving Termination Date (as it may be extended), Borrower shall,
at least 15 days prior to the Revolving Termination Date (as it may be extended), deposit cash in an amount equal to the Letter
of Credit Usage applicable to it in a Letter of Credit Cash Collateral Account.

 

(b) 
Borrower may irrevocably request a Letter of Credit Action in a Minimum Amount therefor (or, if such Letter of Credit Action
is in respect of a Letter of Credit denominated in an Alternative Currency, a Dollar Amount which is in a Minimum Amount therefor)
by delivering a Letter of Credit Application therefor to the applicable Issuing Lender, with a copy to Administrative Agent, not
later than the Requisite Time therefor. Each Letter of Credit Action shall be in a form acceptable to the applicable Issuing Lender
in its sole discretion. Each such request for a Letter of Credit Action shall, if Sections 4.02(b) and (c) are applicable to such
Letter of Credit Action, constitute a representation and warranty by Borrower that the conditions set forth in Sections 4.02(b)
and (c) are satisfied. Unless Administrative Agent notifies the applicable Issuing Lender that such Letter of Credit Action is
not permitted hereunder, or the applicable Issuing Lender notifies Administrative Agent that it has determined that such Letter
of Credit Action is contrary to any Laws or policies of such Issuing Lender, the applicable Issuing Lender shall effect such Letter
of Credit Action. This Agreement shall control in the event of any conflict with any Letter of Credit Application. Upon the issuance
of a Letter of Credit (or, with respect to the Existing Letters of Credit, on the Effective Date), each applicable Issuing Lender
shall be deemed to have sold and transferred to each Lender, and each Lender shall be deemed to have

 

 

 

     37

     

    

purchased from each applicable Issuing Lender, a participation
therein in an amount equal to such Lender’s Revolving Percentage times the Dollar Amount of such Letter of Credit. Each applicable
Issuing Lender represents and warrants to each Lender that it has all necessary power and authority to sell and transfer such participation
to each Lender, without breach of any Contractual Obligation to any other Person, and that such participation is free and clear
of any adverse claim. Notwithstanding anything herein to the contrary, Morgan Stanley Bank, N.A. as an Issuing Lender, shall only
be obligated to issue standby Letters of Credit, and shall only be obligated to do so upon at least 3 Business Days’ prior
written notice (or such shorter period of time as Morgan Stanley Bank, N.A. shall approve in its sole discretion).

 

(c) 
Borrower shall reimburse each Issuing Lender through Administrative Agent for any payment that such Issuing Lender makes
under a Letter of Credit within one Business Day following demand by Administrative Agent or such Issuing Lender in Dollars or
in the applicable Alternative Currency in which such payment was made; provided, however, that if the conditions
precedent set forth in Section 4.02 can be satisfied (except for the giving of a Request for Extension of Credit), Borrower may
request a Borrowing of Base RateABR Loans
in the Dollar Amount necessary to reimburse such Issuing Lender for such payment pursuant to Section 2.02 (without regard to the
Minimum Amount requirements thereof). If Borrower’s reimbursement of, or obligation to reimburse, any amounts in any Alternative
Currency would subject Administrative Agent, the applicable Issuing Lender or any Lender to any stamp duty, ad valorem charge or
similar tax that would not be payable if such reimbursement were made or required to be made in Dollars, Borrower shall pay the
amount of any such tax requested by Administrative Agent, the relevant Issuing Lender or Lender. If Borrower fails to make such
payment when due, then if such payment relates to a Letter of Credit denominated in an Alternative Currency, automatically and
with no further action required, Borrower’s obligation to reimburse the applicable payment by the applicable Issuing Lender
shall be permanently converted into an obligation to reimburse the Dollar Amount of such payment.

 

(d) 
Upon any drawing under a Letter of Credit, the applicable Issuing Lender shall notify Administrative Agent and Borrower.
If Borrower fails to timely make the payment required pursuant to subsection (c) above or to provide cash collateral as required
in subsection (a) above, such Issuing Lender shall notify Administrative Agent of such fact and the Dollar Amount of such unreimbursed
payment or required cash collateral, as applicable. Administrative Agent shall promptly notify each Lender of its Revolving Percentage
of such Dollar Amount by Requisite Notice. Each Lender shall make funds in an amount equal to its Revolving Percentage of such
Dollar Amount available to Administrative Agent at Administrative Agent’s Office not later than the Requisite Time therefor
on the Business Day specified by Administrative Agent. Administrative Agent shall remit the funds so received to such Issuing Lender
in the case of reimbursement of a Letter of Credit drawing or to Administrative Agent for deposit in a Letter of Credit Cash Collateral
Account, as applicable. The obligation of each Lender to so reimburse such Issuing Lender and fund such Letter of Credit Cash Collateral
Account shall be absolute and unconditional and shall not be affected by the occurrence of a Default or Event of Default or any
other occurrence or event; provided that such Issuing Lender shall not have a right to be so reimbursed in respect of a
Letter of Credit if such Issuing Lender issued such Letter of Credit after being notified by Administrative Agent that such issuance
was not permitted hereunder. Any such reimbursement shall not relieve or otherwise impair the obligation of Borrower to reimburse
each Issuing Lender for the amount of any payment made by such Issuing Lender under any Letter of Credit, together with interest
as provided herein, or to provide cash collateral.

 

(e) 
If the conditions precedent set forth in Section 4.02 can be satisfied (except for the giving of a Request for Extension
of Credit) on any date Borrower is obligated to, but fails to, reimburse an Issuing Lender for a drawing under a Letter of Credit
or to provide cash collateral as required in subsection (a) above, the funding by Lenders pursuant to subsection (d) above shall
be deemed to be a

 

 

 

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Borrowing of Base RateABR
Loans (without regard to the Minimum Amount therefor) . If the conditions precedent set forth in Section 4.02 (except for the giving
of a Request for Extension of Credit) cannot be satisfied on the date Borrower is obligated to, but fails to, reimburse an Issuing
Lender for a drawing under a Letter of Credit or to provide cash collateral in respect of a Letter of Credit, the funding by Lenders
pursuant to the previous subsection shall be deemed to be a funding by each Lender of its participation in such Letter of Credit,
and each Lender making such funding shall thereupon acquire a pro rata participation, to the extent of its payment, in the claim
of such Issuing Lender against Borrower in respect of such payment or obligation to provide cash collateral and shall share, in
accordance with that pro rata participation, in any payment made by Borrower with respect to such claim. Any amounts made available
by a Lender under its participation shall be payable by Borrower upon demand of Administrative Agent (or, if earlier, on the Revolving
Termination Date, the Extended Revolving Termination Date or the Second Extended Revolving Termination Date, as applicable), and
shall bear interest at a rate per annum equal to the Default Rate.

 

(f) 
Borrower may request Letters of Credit that have automatic extension or renewal provisions (“evergreen” Letters
of Credit), so long as the applicable Issuing Lender consents thereto and has the right not to permit any such extension or renewal
at least annually within a notice period to be agreed upon at the time each such Letter of Credit is issued. Once an evergreen
Letter of Credit (including any Existing Letter of Credit) is issued, unless Administrative Agent has notified the applicable Issuing
Lender that Required Lenders have elected not to permit such extension or renewal, Borrower, Administrative Agent and Lenders shall
be deemed to have authorized (but may not require) such Issuing Lender to permit the renewal of such evergreen Letter of Credit
at any time to a date not later than five Business Days prior to the Revolving Termination Date (as it may be extended) or such
later date as may be permitted pursuant to clause (y) of the second proviso of Section 2.03(a). Such Issuing Lender may elect not
to permit an evergreen Letter of Credit to be extended or renewed at any time. If such Issuing Lender so elects, it will promptly
give Administrative Agent notice of such election. Administrative Agent will promptly notify Lenders of the non-extension or non-renewal
of any evergreen Letter of Credit.

 

(g) 
The obligation of Borrower to pay to each Issuing Lender the amount of any payment made by such Issuing Lender under any
Letter of Credit shall be absolute, unconditional, and irrevocable. Without limiting the foregoing, Borrower’s obligations
shall not be affected by any of the following circumstances:

 

(i) 
Any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other agreement or instrument relating
thereto;

 

(ii) 
Any amendment or waiver of or any consent to departure from such Letter of Credit, this Agreement or any other agreement
or instrument relating hereto or thereto;

 

(iii) 
The existence of any claim, setoff, defense or other rights which Borrower may have at any time against such Issuing Lender,
Administrative Agent or any Lender, any beneficiary of such Letter of Credit (or any persons or entities for whom any such beneficiary
may be acting) or any other Person, whether in connection with such Letter of Credit, this Agreement or any other agreement or
instrument relating thereto, or any unrelated transactions;

 

(iv) 
Any demand, statement or any other document presented under such Letter of Credit proving to be forged, fraudulent, invalid
or insufficient in any respect or any

 

 

 

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statement therein being untrue or inaccurate in any
respect whatsoever so long as any such document appeared to comply with the terms of such Letter of Credit;

 

(v) 
Any payment by such Issuing Lender in good faith under such Letter of Credit against presentation of a draft or any accompanying
document which does not strictly comply with the terms of such Letter of Credit, or any payment made by such Issuing Lender under
such Letter of Credit to any Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of
creditors, liquidation, 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 Laws;

 

(vi) 
Any error in the transmission of any message relating to such Letter of Credit not caused by such Issuing Lender, or any
delay or interruption in any such message;

 

(vii) 
Any error, neglect or default of any correspondent of such Issuing Lender in connection with such Letter of Credit;

 

(viii) 
Any consequence arising from acts of God, wars, insurrections, civil unrest, disturbances, labor disputes, emergency conditions
or other causes beyond the control of such Issuing Lender;

 

(ix) 
So long as such Issuing Lender in good faith determines that the document appears to comply with the terms of such Letter
of Credit, the form, accuracy, genuineness or legal effect of any contract or document referred to in any document submitted to
such Issuing Lender in connection with such Letter of Credit; and

 

(x)    Any other
circumstances whatsoever where such Issuing Lender has acted in good faith.

 

In addition, Borrower will promptly
examine a copy of each Letter of Credit and amendments thereto delivered to it and, in the event of any claim of noncompliance
with Borrower’s instructions or other irregularity, Borrower will immediately notify the applicable Issuing Lender in writing.
Borrower shall be conclusively deemed to have waived any such claim against such Issuing Lender and its correspondents unless such
notice is given as aforesaid.

 

(h) Each Lender and Borrower agree that, in
paying any drawing under a Letter of Credit, no Issuing Lender shall have any responsibility to obtain any document (other than
any sight draft, certificates and documents expressly required by the Letter of Credit) or to ascertain or inquire as to the validity
or accuracy of any such document or the authority of the Person executing or delivering any such document. No Issuing Lender, Administrative
Agent-Related Person or any of the respective correspondents, participants or assignees of any Issuing Lender shall be liable to
any Lender for any action taken or omitted in connection herewith at the request or with the approval of Lenders or Required Lenders,
as applicable, any action taken or omitted in the absence of gross negligence or willful misconduct or the due execution, effectiveness,
validity or enforceability of any document or instrument related to any Letter of Credit. Borrower hereby assumes all risks of
the acts or omissions of any beneficiary or transferee relative to any Issuing Lender, any Lender or any Administrative Agent-Related
Person with respect to its use of any Letter of Credit; provided, however , that this assumption is not intended
to, and shall not, preclude Borrower’s pursuing such rights and remedies as it may have against the beneficiary or transferee
at law or under any other agreement. No Issuing Lender, Administrative

 

 

 

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Agent-Related Person or any of the respective correspondents,
participants or assignees of any Issuing Lender shall be liable or responsible for any of the matters described in subsection (g)
above in the absence of such Person’s gross negligence or willful misconduct. In furtherance and not in limitation of the
foregoing, any Issuing Lender may accept documents that appear on their face to be in order, without responsibility for further
investigation, regardless of any notice or information to the contrary, and such Issuing Lender shall not be responsible for the
validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign a Letter of Credit or the
rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason.

 

(i) 
Unless otherwise expressly agreed by the applicable Issuing Lender and Borrower when a Letter of Credit is issued and subject
to applicable Laws, performance under Letters of Credit by each Issuing Lender, its correspondents, and beneficiaries will be governed
by, as applicable, the rules of the International Standby Practices 1998, or such later revision as may be published by the Institute
of International Banking Law & Practice, or the Uniform Customs and Practice for Documentary Credits, International Chamber
of Commerce Publication No. 500, as the same may be revised from time to time.

 

(j) 
Borrower shall pay to Administrative Agent on each Applicable Payment Date in arrears, for the account of each Lender in
accordance with its Revolving Percentage, a Letter of Credit fee in Dollars at a rate equal to the Applicable Amount times the
actual daily maximum Dollar Amount available to be drawn under each Letter of Credit requested by Borrower since the later of the
Effective Date and the previous Applicable Payment Date. Borrower shall pay directly to each Issuing Lender of an Existing Letter
of Credit any fees and expenses payable in respect of such Existing Letter of Credit for any period prior to the Effective Date.
If there is any change in the Applicable Amount during any quarter, the actual daily Dollar Amount shall be computed and multiplied
by the Applicable Amount separately for each period during such quarter that such Applicable Amount was in effect.

 

(k) 
Borrower shall pay directly to each Issuing Lender, for its sole account, a fronting fee for each Letter of Credit requested
by Borrower in such amount and at such times as may be set forth in a separate letter agreement between Borrower and such Issuing
Lender. In addition, Borrower shall pay directly to each Issuing Lender, upon demand, for its sole account, its customary documentary
and processing charges in accordance with its standard schedule, as from time to time in effect, for any Letter of Credit Action
or other occurrence relating to a Letter of Credit requested by Borrower for which such charges are customarily made. Such fees
and charges are nonrefundable.

 

(l) 
Each Issuing Lender shall deliver to Administrative Agent, not later than the 20th day after each calendar quarter ending
after the Effective Date, a written report, in form reasonably satisfactory to Administrative Agent, setting forth the Letters
of Credit issued by such Issuing Lender and outstanding as of the last day of such calendar quarter, any Letter of Credit Actions
effected during such calendar quarter, and any draws made under such Letters of Credit during such calendar quarter.

 

(m)    Each Issuing Lender may, at its
option, issue any Letter of Credit and make any funds available in connection with any Letter of Credit by causing any foreign
or domestic branch or Affiliate of such Issuing Lender to take such action; provided that any exercise of such option shall not
affect any obligation of Borrower; provided that, for the avoidance of doubt, Borrower shall not be required to pay a greater
amount under the increased costs provisions (including yield protection and taxes) of Section 3 hereof than it would have paid
in the absence of the exercise of such option.

 

2.04 Competitive Bid Procedure.
(a) Subject to the terms and conditions set forth herein, during the period from and including the Effective Date to, but not including,
the Revolving Termination Date (as it may be extended), Borrower may request Competitive Bids and may (but shall not have any obligation
to) accept Competitive Bids and borrow Competitive Loans; provided that

 

 

 

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Outstanding Revolving Obligations of all Lenders plus
the aggregate principal amount of outstanding Competitive Loans at any time shall not exceed the combined Revolving Commitments.
To request Competitive Bids, Borrower shall notify Administrative Agent of such request by telephone not later than the Requisite
Time therefor; provided that Borrower may submit up to (but not more than) two Competitive Bid Requests on the same day,
but no Competitive Bid Request or Requests shall be made within five Business Days after the date of any previous Competitive Bid
Request or Requests, unless any and all such previous Competitive Bid Requests shall have been withdrawn or all Competitive Bids
received in response thereto rejected. Each such telephonic Competitive Bid Request shall be confirmed promptly by hand delivery
or telecopy to Administrative Agent of a written Competitive Bid Request in a form approved by Administrative Agent and signed
by Borrower. Each such telephonic and written Competitive Bid Request shall specify the following information:

 

(i) 
the aggregate amount of the requested Borrowing (which shall be at least the Minimum Amount therefor);

 

(ii)
 the date of such Borrowing, which shall be a Business Day;

 

(iii) 
whether such Borrowing is to be a Borrowing of Eurodollar Rate Loans or of Fixed Rate Loans (it being understood and agreed
that each Borrowing of Competitive Loans shall be comprised entirely of Eurodollar Rate Loans or Fixed Rate Loans); and

 

(iv) 
the Interest Period to be applicable to such Borrowing, which shall be a period contemplated by the definition of the term
“Interest Period”.

 

Promptly following receipt of a Competitive Bid Request in accordance
with this Section, Administrative Agent shall notify the Lenders of the details thereof by telecopy, inviting the Lenders to submit
Competitive Bids.

 

(b) Each Lender may (but shall not have
any obligation to) make one or more Competitive Bids to Borrower in response to a Competitive Bid Request. Each Competitive
Bid by a Lender must be in a form approved by Administrative Agent and must be received by Administrative Agent by telecopy,
in the case of a Competitive Borrowing of Eurodollar Rate Loans, not later than 9:30 a.m., New York City time, three Business
Days before the proposed date of such Competitive Borrowing, and in the case of a Borrowing of Fixed Rate Loans, not later
than 9:30 a.m., New York City time, on the proposed date of such Competitive Borrowing. Competitive Bids that do not conform
substantially to the form approved by Administrative Agent may be rejected by Administrative Agent, and Administrative Agent
shall notify the applicable Lender as promptly as practicable. Each Competitive Bid shall specify (i) the principal amount
(which shall be a minimum of $10,000,000 and an integral multiple of $1,000,000 and which may equal the entire principal
amount of the Competitive Borrowing requested by Borrower) of the Competitive Loan or Loans that the Lender is willing to
make, (ii) the Competitive Bid Rate or Rates at which the Lender is prepared to make such Loan or Loans (expressed as a
percentage rate per annum in the form of a decimal to no more than four decimal places) and (iii) the Interest Period
applicable to each such Loan and the last day thereof.

 

(c) 
Administrative Agent shall promptly notify Borrower by telecopy of the Competitive Bid Rate and the principal amount specified
in each Competitive Bid and the identity of the Lender that shall have made such Competitive Bid.

 

(d) 
Subject only to the provisions of this paragraph, Borrower may accept or reject any Competitive Bid. Borrower shall notify
Administrative Agent by telephone, confirmed by telecopy in a form approved by Administrative Agent, whether and to what extent
it has decided to accept or reject

 

 

 

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each Competitive Bid, in the case of a Competitive Borrowing
of Eurodollar Rate Loans, not later than 10:30 a.m., New York City time, three Business Days before the date of the proposed Competitive
Borrowing, and in the case of a Borrowing of Fixed Rate Loans, not later than 10:30 a.m., New York City time, on the proposed date
of the Competitive Borrowing; provided that (i) the failure of Borrower to give such notice shall be deemed to be a rejection
of each Competitive Bid, (ii) Borrower shall not accept a Competitive Bid made at a particular Competitive Bid Rate if Borrower
rejects a Competitive Bid made at a lower Competitive Bid Rate with respect to the same Competitive Bid Request, (iii) the aggregate
amount of the Competitive Bids accepted by Borrower shall not exceed the aggregate amount of the requested Competitive Borrowing
specified in the related Competitive Bid Request, (iv) to the extent necessary to comply with clause (iii) above, Borrower may
accept Competitive Bids at the same Competitive Bid Rate in part, which acceptance, in the case of multiple Competitive Bids at
such Competitive Bid Rate, shall be made pro rata in accordance with the amount of each such Competitive Bid, and (v) except pursuant
to clause (iv) above, no Competitive Bid shall be accepted for a Competitive Loan unless such Competitive Loan is in a minimum
principal amount of $5,000,000 and an integral multiple of $1,000,000; provided further that if a Competitive Loan must
be in an amount less than $5,000,000 because of the provisions of clause (iv) above, such Competitive Loan may be for a minimum
of $1,000,000 or any integral multiple thereof, and in calculating the pro rata allocation of acceptances of portions of multiple
Competitive Bids at a particular Competitive Bid Rate pursuant to clause (iv) the amounts shall be rounded to integral multiples
of $1,000,000 in a manner determined by Borrower. A notice given by Borrower pursuant to this paragraph shall be irrevocable.

 

(e) 
Administrative Agent shall promptly notify each bidding Lender by telecopy whether or not its Competitive Bid has been accepted
(and, if so, the amount and Competitive Bid Rate so accepted), and each successful bidder will thereupon become bound, subject
to the terms and conditions hereof, to make the Competitive Loan in respect of which its Competitive Bid has been accepted.

 

(f) 
If Administrative Agent shall elect to submit a Competitive Bid in its capacity as a Lender, it shall submit such Competitive
Bid directly to Borrower at least one quarter of an hour earlier than the time by which the other Lenders are required to submit
their Competitive Bids to Administrative Agent pursuant to paragraph (b) of this Section.

 

2.05  
Reduction or Termination of Revolving Commitments. Upon Requisite Notice to Administrative Agent not later than the
Requisite Time therefor, Borrower may at any time and from time to time, without premium or penalty, permanently and irrevocably
reduce the Revolving Commitments, in a Minimum Amount therefor to an amount not less than the sum of the Outstanding Revolving
Obligations at such time plus the aggregate principal amount of outstanding Competitive Loans at any time, or terminate the Revolving
Commitments. Any such reduction or termination shall be accompanied by payment of all accrued and unpaid commitment fees with respect
to the portion of the Revolving Commitments being reduced or terminated. Administrative Agent shall promptly notify Lenders of
any such request for reduction or termination of the Revolving Commitments. Each Lender’s Revolving Commitment shall be reduced
pro rata by the amount of such reduction.

 

		2.06	Prepayments.

 

(a) 
Upon Requisite Notice to Administrative Agent not later than the Requisite Time therefor, Borrower may at any time and from
time to time voluntarily prepay Loans made to it in part in the Minimum Amount therefor or in full without premium or penalty;
provided that Borrower may not prepay any Competitive Loan without the prior written consent of the Lender thereof. Administrative
Agent will promptly notify each relevant Lender thereof and of such Lender’s percentage of such

 

 

 

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prepayment. Any prepayment of a Eurodollar Rate Loan
shall be accompanied by all accrued interest thereon, together with the costs set forth in Section 3.05.

 

(b) If for any reason (other than
a result of currency fluctuation, which prepayment requirement shall be governed by Section 2.15) the Dollar Amount of the Outstanding
Revolving Obligations of all Lenders plus the aggregate principal amount of outstanding Competitive Loans at any time exceeds the
combined Revolving Commitments from time to time in effect, Borrower shall immediately prepay Revolving Loans and/or deposit cash
in a Letter of Credit Cash Collateral Account in an aggregate amount equal to such excess.

 

		2.07	Documentation of Loans.

 

(a) 
Upon the request of any Lender made through Administrative Agent, a Lender’s Loans may be evidenced by one or more
Notes of Borrower, instead of or in addition to its loan accounts or records. Each such Lender may attach schedules to its Notes
and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. Any failure so to record or any
error in doing so shall not, however, limit or otherwise affect the obligation of Borrower to pay any amount owing with respect
to the Obligations.

 

(b) 
Administrative Agent shall maintain, at Administrative Agent’s Office, a register for the recordation of the names
and addresses of Lenders and the Revolving Commitments and Extensions of Credit of each Lender from time to time (the “Register”).
The Register shall be available for inspection by Borrower or any Lender at any reasonable time and from time to time upon reasonable
prior notice. Administrative Agent shall maintain the Register, acting, solely for this administrative purpose only, as a non-fiduciary
agent for Borrower (it being acknowledged and agreed that Administrative Agent and each Administrative Agent-Related Person, in
such capacity, shall constitute Indemnitees under Section 10.13).

 

(c) 
Administrative Agent shall record in the Register the Revolving Commitment and Extensions of Credit from time to time of
each Lender, and each repayment or prepayment in respect thereof. Any recordation shall be conclusive and binding on Borrower and
each Lender, absent manifest error; provided, however, that the failure to make any such recordation, or any error
in such recordation, shall not affect any Lender’s Revolving Commitment or Outstanding Revolving Obligations or outstanding
Competitive Loans.

 

(d) 
Each Lender shall record on its internal loan accounts or records (and may record on the Note(s) held by such Lender) the
amount of each Extension of Credit made by it and each payment in respect thereof; provided that the failure to make any
such recordation, or any error in such recordation, shall not affect any Lender’s Revolving Commitment or Outstanding Revolving
Obligations or outstanding Competitive Loans; and provided, further, that in the event of any inconsistency between the Register
and any Lender’s records, the recordations in the Register shall govern, absent manifest error.

 

(e) 
Borrower, Administrative Agent and Lenders shall deem and treat the Persons listed as Lenders in the Register as the holders
of the corresponding Revolving Commitments and Extensions of Credit listed therein for all purposes hereof, and no assignment or
transfer of any such Revolving Commitment or Extensions of Credit shall be effective, in each case, unless and until an Assignment
and Assumption effecting the assignment or transfer thereof shall have been accepted by Administrative Agent and recorded in the
Register. Prior to such recordation, all amounts owed with respect to the applicable Revolving Commitment or Outstanding Revolving
Obligations or outstanding Competitive Loans shall be owed to the Lender listed in the Register as the owner thereof, and any request,
authority or consent of any Person who, at the time of making such request or giving such authority or consent, is

 

 

 

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listed in the Register as a Lender shall be conclusive
and binding on any subsequent holder, assignee or transferee of the corresponding Revolving Commitments or Outstanding Revolving
Obligations or outstanding Competitive Loans.

 

		2.08	Continuation and Conversion Option.

 

(a) 
Subject to Section 2.08(d), Borrower may irrevocably request a Conversion or Continuation of Loans on any Business Day in
a Minimum Amount therefor by delivering a Request for Extension of Credit therefor by Requisite Notice to Administrative Agent
not later than the Requisite Time therefor. All Conversions and Continuations of Loans denominated in Dollars shall constitute
Base RateABR Loans unless properly and
timely otherwise designated as set forth in the prior sentence.

 

(b) 
Unless Borrower pays all amounts due under Section 3.05, if any, a Eurodollar Rate Loan may be Continued or Converted only
on the last day of the Interest Period for such Eurodollar Rate Loan. During the existence of an Event of Default, Administrative
Agent may (and upon the request of the Required Lenders shall) prohibit Loans from being requested as, Converted into, or Continued
as Eurodollar Rate Loans, and Required Lenders may demand that any or all of the then outstanding Eurodollar Rate Loans be Converted
immediately into Base RateABR Loans.

 

(c) 
Administrative Agent shall promptly notify Borrower and Lenders of the interest rate applicable to any Eurodollar Rate Loan
upon determination of the same. Administrative Agent shall from time to time notify Borrower and Lenders of any change in JPMorgan
Chase’s prime rate used in determining the Alternate Base Rate promptly following
the public announcement of such change.

 

(d) 
Notwithstanding anything to the contrary contained herein, Competitive Loans may not be Converted or Continued.

 

		2.09	Interest.

 

(a) Subject to subsection (b) below,
and unless otherwise specified herein, Borrower hereby promises to pay interest on the unpaid principal amount of each Loan made
to it (before and after default, before and after maturity, before and after judgment and before and after the commencement of
any proceeding under any Debtor Relief Laws) from the date borrowed until paid in full (whether by acceleration or otherwise) on
each Applicable Payment Date at a rate per annum equal to:

 

(i) 
in the case of Base RateABR Loans,
the Alternate Base Rate plus the Applicable Amount for such type of Loan;

 

(ii) 
in the case of Eurodollar Rate Loans (other than Competitive Loans), the Eurodollar Rate for the Interest Period in effect
for such Borrowing plus the Applicable Amount for such type of Loan;

 

(iii) in
the case of Competitive Loans that are Eurodollar Rate Loans, the Eurodollar Rate for the Interest Period in effect for such Borrowing
plus (or minus, as the case may be) Margin applicable to such Loan; and

 

(iv)
   in the case of Fixed Rate Loans, at the Fixed Rate applicable to such Loan.

 

(b)    If any amount payable by Borrower
under any Loan Document is not paid when due (without regard to any applicable grace periods), Borrower hereby promises to pay
interest (after as well as before entry of judgment thereon to the extent permitted by law) on such amount at a fluctuating interest
rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable

 

 

 

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

 

(c)    On any Business
Day, Borrower may call Administrative Agent and request information as to the then current Eurodollar Rate
or Alternate Base Rate or Base Rate, and Administrative Agent shall
provide such information.

 

		2.10	Fees.

 

(a) 
Commitment Fee. Borrower shall pay to Administrative Agent, for the account of each Lender pro rata according to
its Revolving Percentage, a commitment fee equal to the Applicable Amount times the average daily amount of the excess, if any,
of its Revolving Commitment over its Outstanding Revolving Obligations (it being understood, for avoidance of doubt, that for purposes
of the calculation of the commitment fee, Competitive Loans shall not be deemed to be a utilization of the Revolving Facility).
The commitment fee shall accrue at all times from the Effective Date until the Revolving Termination Date (as it may be extended)
and shall be payable quarterly in arrears on each Applicable Payment Date. If there is any change in the Applicable Amount during
any quarter, the actual daily amount shall be computed and multiplied by the Applicable Amount separately for each period during
such quarter that such Applicable Amount was in effect. The commitment fee shall accrue at all applicable times, including at any
time during which one or more conditions in Section 4 are not met.

 

(b) 
Other Fees. Borrower agrees to pay to Administrative Agent and the other parties hereto (and their respective Affiliates)
the fees in the amounts and on the dates previously agreed to in writing by Borrower and such parties (or their respective Affiliates).

 

2.11    
Computation of Interest and Fees. Computation of interest on Base RateABR
Loans when the Alternate Base Rate is determined by JPMorgan
Chase’s “prime rate”based on the Prime Rate shall be
calculated on the basis of a year of 365 or 366 days, as the case may be, and the actual number of days elapsed. Computation of
all other types of interest and all fees shall be calculated on the basis of a year of 360 days or, in the case of any amount denominated
in Sterling or Canadian Dollars, 365 days and the actual number of days elapsed. 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 bear interest for one day.

 

		2.12	Making Payments.

 

(a) 
Except as otherwise provided herein, all payments by Borrower or any Lender hereunder shall be made to Administrative Agent
at Administrative Agent’s Office not later than the Requisite Time for such type of payment. All payments received after
such Requisite Time shall be deemed received on the next succeeding Business Day for purposes of the calculation of interest and
fees, but not for purposes of determining whether a Default has occurred. All payments of principal and interest shall be made
in immediately available funds in Dollars. All payments by Borrower shall be made without condition or deduction for any counterclaim,
defense, recoupment or setoff.

 

(b) 
Upon satisfaction of any applicable terms and conditions set forth herein, Administrative Agent shall promptly make any
amounts received in accordance with Section 2.12(a) available in like funds received as follows: (i) if payable to Borrower, by
crediting a deposit account designated from time to time by Borrower to Administrative Agent by Requisite Notice, and (ii) if payable
to any Lender, by wire transfer to such Lender at its Lending Office. If such conditions are not

 

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so satisfied, Administrative Agent shall return any
funds it is holding to the Lenders making such funds available, without interest.

 

(c) 
Subject to the definition of “Interest Period,” if any payment to be made by Borrower shall come due on a day
other than a Business Day, payment shall instead be considered due on the next succeeding Business Day, and such extension of time
shall be reflected in computing interest and fees.

 

(d) 
Subject to Section 4.05, unless Borrower or any Lender has notified Administrative Agent, prior to the Requisite Time any
payment to be made by it is due, that it does not intend to remit such payment, Administrative Agent may, in its sole and absolute
discretion, assume that Borrower or such Lender, as the case may be, has timely remitted such payment and may, in its sole and
absolute discretion and in reliance thereon, make such payment available to the Person entitled thereto. If such payment was not
in fact remitted to Administrative Agent in immediately available funds, then:

 

(i) 
If Borrower failed to make such payment, each Lender shall forthwith on demand repay to Administrative Agent the amount
of such assumed payment made available to such Lender, together with interest thereon in respect of each day from and including
the date such amount was made available by Administrative Agent to such Lender to the date such amount is repaid to Administrative
Agent at the Federal Funds Rate; and

 

(ii) 
If any Lender failed to make such payment, Administrative Agent shall be entitled to recover such corresponding amount
on demand from such Lender. If such Lender does not pay such corresponding amount upon Administrative Agent’s demand therefor,
Administrative Agent promptly shall notify Borrower, and Borrower shall pay such corresponding amount to Administrative Agent.
Administrative Agent also shall be entitled to recover interest on such corresponding amount in respect of each day from the date
such corresponding amount was made available by Administrative Agent to Borrower to the date such corresponding amount is recovered
by Administrative Agent, (A) from such Lender at a rate per annum equal to the Federal Funds Rate, and (B) from Borrower, at a
rate per annum equal to the interest rate applicable to such Borrowing. Nothing herein shall be deemed to relieve any Lender from
its obligation to fulfill its Revolving Commitment or to prejudice any rights which Administrative Agent or Borrower may have
against any Lender as a result of any default by such Lender hereunder.

 

(e) 
If Administrative Agent or any Lender is required at any time to return to Borrower, or to a trustee, receiver, liquidator,
custodian or any official under any proceeding under Debtor Relief Laws, any portion of a payment made by Borrower, each Lender
shall, on demand of Administrative Agent, return its share of the amount to be returned, 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.

 

2.13    
Funding Sources. Nothing in this Agreement 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.

 

2.14    
Defaulting Lenders. Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a Defaulting
Lender, then the following provisions shall apply for so long as such Lender is a Defaulting Lender:

 

 

 

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(a) 
Fees set forth in Section 2.10(a) shall cease to accrue on the unfunded portion of the Commitments of such Defaulting Lender;

 

(b) 
To the extent permitted by applicable Law, any voluntary prepayment of Revolving Loans shall, if Borrower so directs at
the time of making such voluntary prepayment, be applied to the Revolving Loans of other Lenders as if such Defaulting Lender had
no Revolving Loans outstanding and the Aggregate Exposure of such Defaulting Lender in respect of its Revolving Commitment were
zero;

 

(c) 
The Aggregate Exposure of such Defaulting Lender shall not be included in determining whether all Lenders or Required Lenders
have taken or may take any action hereunder (including any consent to any amendment, waiver or modification pursuant to Section
10.01), provided that any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender which
affects such Defaulting Lender differently than other affected Lenders shall require the consent of such Defaulting Lender and
in any event, no such amendment, modification, or waiver shall increase the Revolving Commitments or the principal amount of any
Loans of such Defaulting Lender, extend the maturity date applicable thereto or decrease the rate of interest (including any commitment
fees) payable in respect thereof without the consent of such Defaulting Lender;

 

(d)    If any Letter of Credit Usage
exists at the time a Lender becomes a Defaulting Lender then:

 

(i) 
all or any part of such Letter of Credit Usage shall be reallocated among the Lenders that are not Defaulting Lenders in
accordance with their respective Revolving Percentages but, in any case, only to the extent the sum of the Outstanding Revolving
Obligations of all Lenders that are not Defaulting Lenders plus such Defaulting Lender’s ratable participation in all Letter
of Credit Usage does not exceed the total of the Revolving Commitments of all Lenders that are not Defaulting Lenders;

 

(ii) 
if the reallocation described in clause (i) above cannot, or can only partially, be effected, Borrower shall within one
Business Day following notice by Administrative Agent, either (x) cash collateralize such Defaulting Lender’s participation
in all Letter of Credit Usage (after giving effect to any partial reallocation pursuant to clause (i) above) in a Letter of Credit
Cash Collateral Account for so long as such Letter of Credit is outstanding or (y) backstop such Letter of Credit Usage with a
letter of credit reasonably satisfactory to the Issuing Lender;

 

(iii) 
if Borrower cash collateralizes or backstops any portion of such Defaulting Lender’s Letter of Credit Usage pursuant
to this subsection (d), Borrower shall not be required to pay any fees to such Defaulting Lender pursuant to Section 2.03(j) with
respect to such Defaulting Lender’s Letter of Credit Usage during the period such Defaulting Lender’s Letter of Credit
Usage is cash collateralized or backstopped;

 

(iv) 
if the Letter of Credit Usage attributable to the Defaulting Lenders is reallocated pursuant to this subsection (d), then
the fees payable to the non-Defaulting Lenders pursuant to Section 2.03(j) and Section 2.10(a) shall be adjusted in accordance
with the non-Defaulting Lenders’ respective Revolving Percentages to account for such reallocation; and

 

(v) 
if any Defaulting Lender’s participation in all Letter of Credit Usage is neither cash collateralized, backstopped
nor reallocated pursuant to this subsection (d), then, without prejudice to any rights or remedies of Issuing Lenders or any Lender

 

 

 

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hereunder, all Letter of Credit fees payable under
Section 2.03(j) with respect to such Defaulting Lender’s remaining participation in all Letter of Credit Usage shall be payable
to the applicable Issuing Lenders until such participation in all Letter of Credit Usage is backstopped, cash collateralized and/or
reallocated

 

(e) 
So long as any Lender is a Defaulting Lender, no Issuing Lender shall be required to issue, amend or increase any Letter
of Credit, unless it is satisfied that the related exposure will be 100% covered by the Revolving Commitments of the non-Defaulting
Lenders and/or cash collateral or backstop letters of credit will be provided by Borrower in accordance with subsection (d) of
this Section, and participating interests in any such newly issued or increased Letter of Credit shall be allocated among non-Defaulting
Lenders that are Lenders in a manner consistent with subsection (d)(i) of this Section (and Defaulting Lenders shall not participate
therein).

 

(f) 
In the event that each of Administrative Agent, Borrower and Issuing Lenders agrees that a Defaulting Lender has adequately
remedied all matters that caused such Lender to be a Defaulting Lender, then the Letter of Credit Usage of the Lenders shall be
readjusted to reflect the inclusion of such formerly Defaulting Lender’s Revolving Commitment and on such date such formerly
Defaulting Lender shall purchase at par such of the Revolving Loans of the other Lenders as Administrative Agent shall determine
may be necessary in order for such formerly Defaulting Lender to hold such Revolving Loans in accordance with its Revolving Percentage.

 

		2.15	Currency Equivalents.

 

(a)  Administrative
Agent shall determine the Dollar Amount of (i) the Letter of Credit Usage in respect of Letters of Credit denominated in an
Alternative Currency based on the Exchange Rate (A) on or about the date of the related notice requesting the issuance of
such Letter of Credit and (B)  at such other times as Administrative Agent may
elect in its discretion (but in no case more frequently than monthly), (ii) the Loans denominated in an Alternative
Currency based on the Exchange Rate (A) on or about the date of the related notice requesting any Borrowing, Continuation or
Conversion and (B) at such other times as Administrative Agent may elect in its discretion (but in no case more frequently
than monthly) and (iii) any other amount to be converted into Dollars in accordance with the provisions hereof at the time of
such conversion.

 

(b) 
If after giving effect to any such determination of a Dollar Amount, the Letter of Credit Usage exceeds 105% of the Letter
of Credit Sublimit, Borrower shall, within five Business Days of receipt of notice thereof from Administrative Agent setting forth
such calculation in reasonable detail, deposit cash collateral in a Letter of Credit Cash Collateral Account in an amount equal
to such excess. If after giving effect to any such determination of a Dollar Amount, the Dollar Amount of the Outstanding Revolving
Obligations of all Lenders plus the aggregate principal amount of outstanding Competitive Loans at any time exceeds the combined
Revolving Commitments from time to time in effect by more than 105%, Borrower shall, immediately upon receipt of notice thereof
from Administrative Agent setting forth such calculation in reasonable detail, prepay Revolving Loans and/or deposit cash in a
Letter of Credit Cash Collateral Account in an aggregate amount equal to such excess in accordance with Section 2.06(b).

 

SECTION 3

 

TAXES, YIELD PROTECTION AND ILLEGALITY

 

3.01 Taxes.

 

 

 

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(a) 
To the extent permitted by Law, any and all payments by or on account of Borrower to or for the account of any Lender Party
under any Loan Document shall be made free and clear of and without deduction or withholding for or on account of any and all present
or future income, stamp or other taxes, duties, levies, imposts, deductions, assessments, fees, withholdings or similar charges,
now or hereafter imposed, levied, collected, withheld or assessed and all interest, additions to tax, or penalties with respect
thereto, excluding, (w) in the case of a Lender Party, taxes imposed on or measured by its net income, and franchise taxes (imposed
in lieu of net income taxes) imposed on it, (I) by the jurisdiction (or any political subdivision thereof) under the Laws of which
the Lender Party is organized or maintains a Lending Office, or (II) by reason of any present or former connection between such
Lender Party and the jurisdiction imposing such taxes, other than solely as a result of this Agreement or any Note or any transaction
contemplated thereby, (x) with respect to each Lender Party, taxes imposed by reason of any present or former connection between
such Lender Party and the jurisdiction imposing such taxes, other than solely as a result of this Agreement or any Note or any
transaction contemplated hereby, (y) in the case of a Lender Party organized under the Laws of a jurisdiction outside the United
States (other than an assignee pursuant to a request by Borrower under Section 3.06(b)), any withholding tax that is imposed on
amounts payable to such Lender Party at the time such Lender Party becomes a party to this Agreement (or designates a new lending
office) or is attributable to such Lender Party’s failure to comply with Section 10.20, except to the extent that such Lender
Party (or its assignor, if any) was entitled, at the time of designation of a new lending office (or assignment), to receive additional
amounts from Borrower with respect to such withholding tax pursuant to this Section and (z) withholding taxes imposed pursuant
to FATCA (all non-excluded taxes, duties, levies, imposts, deductions, assessments, fees, withholdings or similar charges, and
liabilities imposed on or with respect to any payment made by or on account of any obligation of any Loan Party under any Loan
Document being hereinafter referred to as “Non-Excluded Taxes”). If Borrower or Administrative Agent shall be required
by any Laws to deduct any Non-Excluded Taxes from or in respect of any sum payable under any Loan Document to any Lender Party,
(i) the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable
to additional sums payable under this Section), such Lender Party receives an amount equal to the sum it would have received had
no such deductions been made, (ii) Borrower or Administrative Agent shall make such deductions or withholdings, (iii) Borrower
or Administrative Agent shall pay the full amount deducted or withheld to the relevant taxation authority or other authority in
accordance with applicable Laws and (iv) with respect to all withholding taxes, within 30 days after the date of such payment by
Borrower, Borrower shall furnish to Administrative Agent (who shall forward the same to such Lender Party) the original or a certified
copy of a receipt evidencing payment thereof.

 

(b) 
In addition, Borrower agrees to pay, or at the option of Administrative Agent timely reimburse it for the payment of, any
and all present or future stamp, court, documentary, intangible, recording, filing or other similar taxes, charges or levies which
arise from any payment made by it under any Loan Document or from the execution, delivery, performance, enforcement or registration
of, or otherwise with respect to, any Loan Document except any such taxes that are imposed with respect to an assignment by the
Lender (hereinafter referred to as “Other Taxes”).

 

(c)    Borrower agrees to indemnify
each Lender Party for the full amount of Non-Excluded Taxes and Other Taxes (including any Non-Excluded Taxes or Other Taxes imposed
or asserted by any jurisdiction on amounts payable under this Section) paid by such Lender Party with respect to any Loan or Loan
Document and any liability (including penalties, interest and expenses) arising therefrom or with respect thereto;
provided, however, that Borrower shall not be obligated to indemnify such recipient pursuant to this Section 3.01 in respect of
interest, penalties and other liabilities attributable to any Non-Excluded Taxes or Other Taxes, if such interest, penalties other
liabilities are attributable to the gross negligence or willful misconduct of such Lender Party. After a Lender Party learns of
the imposition of Non-Excluded Taxes or Other Taxes, such Lender will act in good faith to

 

 

 

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promptly
notify Borrower of its obligations hereunder. A certificate as to the amount of such payment or liability delivered to Borrower
by a Lender (with a copy to Administrative Agent), or by Administrative Agent on its own behalf or on behalf of a Lender, shall
be conclusive absent manifest error.

 

(d) 
Notwithstanding anything to the contrary contained in this Section 3.01, all obligations of Borrower to any Lender under
such Section 3.01 shall be subject to, and conditioned upon such Lender’s compliance with its obligations, if any, under
Section 10.20.

 

(e) 
If any Lender Party determines, in its sole discretion exercised in good faith, that it has received a refund from a relevant
taxing or governmental authority in respect of any Non-Excluded Taxes or Other Taxes as to which it has been indemnified by Borrower
or with respect to which Borrower has paid additional amounts pursuant to this Section 3.01, it shall pay over such refund to Borrower
(but only to the extent of indemnity payments made, or additional amounts paid, by Borrower under this Section 3.01 with respect
to the Non-Excluded Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses of such Lender Party and
without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund); provided, that
in the event such Lender Party is required to repay any or all of such refund to such Governmental Authority (a “Refund Repayment
Requirement”), Borrower, upon the request of such Lender Party, agrees to repay to such Lender Party the full amount of such
Refund Repayment Requirement (plus any penalties, interest or other charges imposed by the relevant Governmental Authority). This
subsection shall not be construed to require any Lender Party to make available its tax returns (or any other information relating
to its taxes which it deems confidential) to Borrower or any other Person.

 

3.02  
Illegality. If any Lender determines that any Laws have 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 Eurodollar Rate Loans,
or materially restricts the authority of such Lender to purchase or sell, or to take deposits of, Dollars in the applicable offshore
interbank market, or to determine or charge interest rates based upon the Eurodollar Rate, then, on notice thereof by such Lender
to Borrower through Administrative Agent, the obligation of such Lender to make Eurodollar Rate Loans shall be suspended until
such Lender notifies Administrative Agent and Borrower that the circumstances giving rise to such determination no longer exist.
Upon receipt of such notice, Borrower shall, upon demand from such Lender (with a copy to Administrative Agent), prepay or Convert
all Eurodollar Rate Loans of such Lender, either on the last day of the Interest Period thereof, 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. Each Lender agrees to designate a different Lending Office if such designation will avoid the need for such notice
and will not, in the good faith judgment of such Lender, otherwise be materially disadvantageous to such Lender.

 

3.03
Alternate Rate of Interest.Inability to Determine Eurodollar Rates.
If, in connection with any Request for Extension of Credit involving any Eurodollar Rate Loan, (a) Administrative Agent determines
that (i) deposits in Dollars are not being offered to banks in the applicable offshore dollar market for the applicable amount
and Interest Period of the requested Eurodollar Rate Loan or (ii) adequate and
reasonable means do not exist for determining the underlying interest rate for such Eurodollar
Rate Loan, or (b) Required Lenders (or, in the case of a Competitive
Loan that is a Eurodollar Rate Loan, the Lender that is required to make such Loan) determine
that such underlying interest rate does not adequately and fairly reflect the cost to Lenders
(or Lender) of funding such Eurodollar Rate Loan, Administrative Agent will promptly notify Borrower
and all Lenders. Thereafter, the obligation of Lenders (or Lender) to make or maintain such Eurodollar Rate Loan shall be suspended
until Administrative Agent revokes such notice. Upon receipt of such notice, Borrower may revoke any pending request for a Borrowing
of Eurodollar Rate

 

 

 

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Loans or, failing that, be deemed
to have converted such request into a request for a Borrowing of Base Rate Loans in the amount specified therein.

 

(a)
If prior to the commencement of any Interest Period for a Eurodollar Rate Borrowing in any currency (the currency of such Borrowing
herein referred to as the “Affected Currency”):

 

(i)
the Administrative Agent determines (which determination shall be conclusive absent manifest error), or the Borrower notifies the
Administrative Agent that the Borrower has determined, that adequate and reasonable means
do not exist for ascertaining the Eurodollar Rate, as applicable (including because the LIBO Screen
Rate is not available or published on a current basis), for the Affected Currency and such Interest Period; or

 

(ii)
the Administrative Agent is advised by the Required Lenders (or, in the case of a Eurodollar
Rate Competitive Loan, the Lender that is required to make such Loan) that
the Eurodollar Rate, as applicable, for the Affected Currency and such Interest Period will not
adequately and fairly reflect the cost to such Lenders (or Lender)
of making or maintaining their Loans (or its Loan) included in such Borrowing for the Affected
Currency and such Interest Period;

 

then the Administrative
Agent shall give notice thereof to the Borrower and the Lenders by telephone, telecopy or electronic mail as promptly as practicable
thereafter and, until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such
notice no longer exist, (A) any Interest Election Request that requests the conversion of any Revolving Loan to, or continuation
of any Revolving Loan as, a Eurodollar Rate Borrowing denominated in the Affected Currency shall be ineffective, and, if the Affected
Currency is Dollars, such Borrowing (unless prepaid) shall be continued as, or converted to, an ABR Borrowing, (B) if the Affected
Currency is Dollars and if any Borrowing Request requests a Eurodollar Rate Borrowing denominated in Dollars, such Borrowing shall
be made as an ABR Borrowing, (C) if the Affected Currency is Canadian Dollars and if any Borrowing Request requests a Eurodollar
Rate Borrowing denominated in Canadian Dollars, such Borrowing shall be made as a Canadian Prime Rate Borrowing, (D) if the Affected
Currency is any other Alternative Currency, any Borrowing Request that requests a Eurodollar Rate Borrowing denominated in the
Affected Currency shall be ineffective and (E) any request by the Borrower for a Eurodollar Rate Competitive Borrowing denominated
in the Affected Currency shall be ineffective; provided that (x) if the circumstances giving rise to such notice do not affect
all the Lenders, then requests by the Borrower for Eurodollar Rate Competitive Borrowings in the Affected Currency may be made
to Lenders that are not affected thereby and (y) if the circumstances giving rise to such notice affect only one type of Borrowings,
then the other type of Borrowings shall be permitted.

 

(b) If
at any time the Administrative Agent determines (which determination shall be conclusive absent manifest error), or the Borrower
notifies the Administrative Agent that the Borrower has determined, that (i) the circumstances set forth in clause (a)(i) or (a)(ii)
have arisen and such circumstances are unlikely to be temporary or (ii) the circumstances set forth in clause (a)(i) or (a)(ii)
have not arisen but either (w) the supervisor for the administrator of the applicable Eurodollar Rate has made a public statement
that the administrator of the applicable Eurodollar Rate is insolvent (and there is no successor administrator that will continue
publication of the applicable Eurodollar Rate), (x) the administrator of the applicable Eurodollar Rate has made a public statement
identifying a specific date after which the applicable Eurodollar Rate will permanently or indefinitely cease to be published by
it (and there is no successor administrator that will continue publication of the applicable Eurodollar Rate), (y) the supervisor
for the administrator of the applicable Eurodollar Rate has made a public

 

 

 

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statement
identifying a specific date after which the applicable Eurodollar Rate will permanently or indefinitely cease to be published or
(z) the supervisor for the administrator of the applicable Eurodollar Rate or a Governmental Authority having jurisdiction over
the Administrative Agent has made a public statement identifying a specific date after which the applicable Eurodollar Rate may
no longer be used for determining interest rates for loans, then the Administrative Agent
and the Borrower shall endeavor to establish an alternate rate of interest to such applicable
Eurodollar Rate that gives due consideration to the then prevailing market convention for determining a rate of interest for syndicated
loans in the United States at such time, and shall enter into an amendment to this Agreement to reflect such alternate rate of
interest and such other related changes (including administrative changes) to this Agreement as may be applicable (but for the
avoidance of doubt, such related changes shall not include a reduction of the Applicable Amount); provided that, if such alternate
rate of interest as so determined would be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement.
Notwithstanding anything to the contrary in Section 9.02, such amendment shall become effective without any further action or consent
of any other party to this Agreement so long as the Administrative Agent shall not have received, within five Business Days of
the date such amendment is provided to the Lenders, a written notice from the Required Lenders stating that such Required Lenders
object to such amendment. Until an alternate rate of interest shall be determined in accordance with this clause (b) (but ,
in the case of the circumstances described in clause (ii)(w), clause (ii)(x) or clause (ii)(y)
of the first sentence of this Section 3.03(b), only to the extent the applicable Eurodollar Rate for the applicable currency and
such Interest Period is not available or published at such time on a current basis), (x) any Interest Election Request that requests
the conversion of any Revolving Loan to, or continuation of any Revolving Loan as, a Eurodollar Rate Borrowing shall be ineffective,
(y) if any Borrowing Request requests a Eurodollar Rate Revolving Loan, such Borrowing shall be made (1) in the case of a Borrowing
denominated in Dollars, as an ABR Borrowing, (2) in the case of a Borrowing denominated in Canadian Dollars, as a Canadian Prime
Rate Borrowing and (3) in the case of a Borrowing denominated in any other Alternative Currency, as a Borrowing of Loans bearing
interest at a rate for short term borrowings of such Alternative Currency determined in a customary manner in good faith by
the Administrative Agent in consultation with the Borrower and (z) any request by the Borrower
for a Eurodollar Rate Competitive Borrowing shall be ineffective.

 

		3.04	Increased Cost and Reduced Return; Capital Adequacy.

 

(a) 
If any Lender Party determines that the adoption of any Law or any change in any Law or in the interpretation thereof effective
after the date hereof:

 

(i) 
Subjects such Lender Party to any tax (excluding taxes described in clauses (w), (y) and (z) of Section 3.01(a), Non-Excluded
Taxes and Other Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves,
other liabilities or capital attributable thereto with respect to any Eurodollar Rate Loans or Fixed Rate Loans or its obligation
to make Eurodollar Rate Loans or Fixed Rate Loans;

 

(ii) 
Imposes or modifies any reserve, special deposit, compulsory loan, insurance charge, or similar requirement (other than
the reserve requirement utilized in the determination of the EurodollarAdjusted
LIBO Rate) relating to any extensions of credit or other assets of, or any deposits with or other liabilities or commitments
of, such Lender Party (including its Revolving Commitment); or

 

 

 

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(iii)    Imposes on such Lender Party
or on the offshore interbank market any other condition, cost or expense (other than taxes) affecting this Agreement or any of
such extensions of credit or liabilities or commitments;

 

and the result of any of the foregoing is to increase
the cost to such Lender Party of making, Converting into, Continuing, or maintaining any Eurodollar Rate Loans or Fixed Rate Loans
or issuing or participating in Letters of Credit or to reduce any sum received or receivable by such Lender Party under this Agreement
with respect to any Eurodollar Rate Loans or Fixed Rate Loans or Letter of Credit, then from time to time upon demand of such Lender
Party (with a copy of such demand to Administrative Agent), Borrower shall pay to such Lender Party such additional amounts as
will compensate such Lender Party for such increased cost or reduction.

 

(b) 
If any Lender Party determines that the adoption of any Law or any change in any Law or in the interpretation thereof effective
after the date hereof, including in regard to capital adequacy and liquidity, has the effect of reducing the rate of return on
the capital of such Lender Party or compliance by such Lender Party (or its Lending Office) or any corporation controlling such
Lender Party as a consequence of such Lender Party’s obligations hereunder (taking into consideration its policies with respect
to capital adequacy and liquidity and such Lender Party’s desired return on capital and desired liquidity levels), then from
time to time upon demand of such Lender Party (with a copy to Administrative Agent), Borrower shall pay to such Lender Party such
additional amounts as will compensate such Lender Party for such reduction.

 

(c) 
Notwithstanding the foregoing provisions of this Section, a Lender Party shall not be entitled to compensation pursuant
to this Section in respect of any Competitive Loan if the adoption of or change in Law or in the interpretation thereof that would
otherwise entitle it to such compensation shall have been publicly announced prior to submission of the Competitive Bid pursuant
to which such Loan was made.

 

(d) 
Notwithstanding anything herein to the contrary (i) all requests, rules, guidelines, requirements and directives promulgated
by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or
by United States or foreign regulatory authorities, in each case pursuant to Basel III, and (ii) the Dodd-Frank Wall Street Reform
and Consumer Protection Act and all requests, rules, guidelines, requirements and directives thereunder or issued in connection
therewith or in implementation thereof, shall in each case be deemed to be a change in Law, regardless of the date enacted, adopted,
issued or implemented.

 

3.5  
Breakfunding Costs. Subject to Section 3.06(a), upon demand of any Lender (with a copy to Administrative Agent) from
time to time, Borrower shall promptly compensate such Lender for and hold such Lender harmless from any actual loss, cost or expense
incurred by it as a result of:

 

(a) 
Any Continuation, Conversion, payment or prepayment by Borrower of any Eurodollar Rate Loan or Fixed Rate Loan on a day
other than the last day of the Interest Period for such Eurodollar Rate Loan or Fixed Rate Loan (whether voluntary, mandatory,
automatic, by reason of acceleration or otherwise);

 

(b) 
Any failure by Borrower (for a reason other than the failure of such Lender to make a Eurodollar Rate Loan or Fixed Rate
Loan) to prepay, borrow, Continue or Convert any Eurodollar Rate Loan or Fixed Rate Loan on the date or in the amount notified
by Borrower; or

 

 

 

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(c) Any failure by Borrower to borrow
any Competitive Loan after accepting the Competitive Bid to make such Loan;

 

excluding any loss of anticipated profits but including
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.

 

		3.6	Matters Applicable to all Requests for Compensation.

 

(a) 
A certificate of Administrative Agent or any Lender claiming compensation under this Section 3 and setting forth the additional
amount or amounts to be paid to it hereunder shall be conclusive in the absence of clearly demonstrable error; provided
that such certificate (i) sets forth with reasonable specificity the calculation of the amount to be paid, (ii) states that Administrative
Agent or such Lender, as applicable, is treating substantially all similarly situated borrowers in a manner that is consistent
with the treatment afforded Borrower hereunder, (iii) is delivered within 90 days of the later of the date of the event giving
rise to such compensation and the date Administrative Agent or such Lender knew or, with the exercise of reasonable care, should
have known of the requirements for such compensation, and (iv) confirms (in the case of a claim for compensation under Section
3.01 or Section 3.04) that either a change in Administrative Agent’s Office or Lending Office, as the case may be, of Administrative
Agent or such Lender, as the case may be, would not have eliminated the request for compensation or that such change would have
been otherwise disadvantageous to Administrative Agent or such Lender, as the case may be. In determining the amount of such compensation,
Administrative Agent or any Lender may use any reasonable averaging and attribution methods.

 

(b) 
Upon any Lender becoming prohibited from making, maintaining or funding Eurodollar Rate Loans pursuant to Section 3.02,
or upon any Lender making a claim for compensation under Section 3.01 or Section 3.04, Borrower may remove or replace such Lender
in accordance with Section 10.21.

 

3.07  
Survival. All of Borrower’s obligations under this Section 3 shall survive termination of the Revolving Commitments
and payment in full of all Obligations.

 

SECTION 4

 

CONDITIONS PRECEDENT TO EXTENSIONS OF CREDIT

 

4.01 Conditions Precedent to
Effective Date. The agreement of each Lender to make the initial Extension of Credit requested to be made by it is subject
to the satisfaction, on or before June 30, 2016, of the conditions precedent set forth in this Section 4.01 (all of which have
been irrevocably satisfied or waived as of May 26, 2016):

 

(a) Receipt by Administrative Agent
of each of the following, each of which shall be originals, facsimiles or pdf copies unless otherwise specified, each properly
executed by a Responsible Officer of the applicable Loan Party, each dated on, or in the case of third party certificates, recently
before, the Effective Date and each in form and substance reasonably satisfactory to Administrative Agent:

 

(i) Executed counterparts of (a)
this Agreement, executed and delivered by Borrower, Administrative Agent and each Person listed on Schedule 2.01 and (b) the Guarantee
Agreement, executed and delivered by each Guarantor (provided that the requirements of this clause (i) may be satisfied by customary
written evidence reasonably

 

 

 

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satisfactory
to Administrative Agent (which may include electronic transmission of a signed signature page) that such party has signed a counterpart
to this Agreement or the Guarantee Agreement (as applicable));

 

(ii) 
Administrative Agent shall have received a certificate of each Loan Party, dated the Effective Date and executed by a secretary,
assistant secretary or Responsible Officer thereof, which shall (A) certify that attached thereto are (x) a true and complete
copy of the certificate or articles of incorporation, formation or organization of such Loan Party certified by the relevant authority
of its jurisdiction of organization, which certificate or articles of incorporation, formation or organization of such Loan Party
attached thereto have not been amended (except as attached thereto) since the date reflected thereon, (y) a true and correct copy
of the by-laws or operating, management, partnership or similar agreement of such Loan Party, together with all amendments thereto
as of the Effective Date and such by-laws or operating, management, partnership or similar agreement are in full force and effect
and (z) a true and complete copy of the resolutions or written consent, as applicable, of its board of directors, board of managers,
sole member or other applicable governing body authorizing the execution, delivery and performance of the Loan Documents, and,
in the case of Borrower, the borrowings and other obligations thereunder, which resolutions or consent have not been modified,
rescinded or amended (other than as attached thereto) and are in full force and effect, and (B) 
identify by name and title and bear the signatures of the officers, managers, directors or authorized signatories of such
Loan Party authorized to sign the Loan Documents to which such Loan Party is a party on the Effective Date;

 

(iii) 
A certificate signed by a Responsible Officer of Borrower certifying (A) that the conditions specified in Sections 4.01(e)
and (f) have been satisfied and (B) that there has been no event or circumstance since the date of the Reference Statements which
has a Material Adverse Effect;

 

(iv) 
An opinion of counsel to Borrower in form and substance reasonably satisfactory to Administrative Agent; and

 

(v) 
All information requested by any Lender in writing at least five Business Days prior to the Effective Date, to the extent
necessary to enable such Lender to identify Borrower and Guarantors to the extent required for compliance with the PATRIOT Act
or other “know your customer” rules and regulations (which requested information shall have been received at least
two Business Days prior to the Effective Date).

 

(b)
   Any fees required to be paid on or before the Effective Date shall have been paid.

 

(c) 
Administrative Agent shall have received notice that substantially simultaneously with the Effective Date, the Existing
Credit Agreement shall have been terminated in accordance with the terms of the Existing Credit Agreement, and all principal, interest
and fees owing thereunder shall have been paid.

 

(d) 
Lenders shall have received (i) audited consolidated financial statements of Borrower and its Subsidiaries for the most
recent fiscal year ended prior to the Effective Date as to which such financial statements are available and (ii) unaudited interim
consolidated financial statements of Borrower and its Subsidiaries for each quarterly period, if any, ended subsequent to the date
of the financial statements delivered pursuant to clause (i) of this paragraph as to which such financial

 

 

 

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statements are available. The documents referred to
in the preceding sentence shall be deemed delivered hereunder by the filing by Borrower of its quarterly report on Form 10-Q or
annual report on Form 10-K (as applicable) on the date on which such documents are posted on Borrower’s behalf on an Internet
website to which each Lender and Administrative Agent has access.

 

(e) 
The representations and warranties made by Borrower herein, or which are contained in any certificate, document or financial
or other statement furnished at any time under or in connection herewith or therewith, shall be correct in all material respects
on and as of the Effective Date.

 

(f)
   No Default or Event of Default shall have occurred and be continuing.

 

(g) 
Unless waived by Administrative Agent, Borrower shall have paid all Attorney Costs of Administrative Agent to the extent
invoiced prior to or on the Effective Date.

 

4.02 Conditions to Certain Extensions
of Credit. Other than with respect to any Certain Funds Credit Extension (which shall be subject to Section 4.03), the obligation
of each Lender to honor any Request for Extension of Credit (including the initial Extension of Credit, but other than a Conversion
or Continuation) is subject to the following conditions precedent:

 

(a) 
The representations and warranties of Borrower contained in Section 5 (other than Sections 5.04(b) and 5.05) of this Agreement
shall be correct in all material respects on and as of the date of such Extension of Credit as if made on and as of such date,
except to the extent any such representation and warranty specifically relates to any earlier date, in which case such representation
and warranty shall have been true and correct in all material respects on and as of such earlier date.

 

(b)
   No Default or Event of Default exists, or would result from such Extension of Credit or the use thereof.

 

Each Request for Extension of Credit
by 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 such Extension of Credit.

 

4.03 Conditions to Certain Funds
Credit Extensions. Notwithstanding anything in this Agreement to the contrary, the obligation of each Lender to honor any Request
for Extension of Credit in respect of any Certain Funds Credit Extension during the Certain Funds Period is subject solely to the
following conditions precedent:

 

(a)
    The Amendment No. 1 Effective Date shall have occurred.

 

(b) 
No Draw-Stop Event shall have occurred and be continuing or would result from the proposed Certain Funds Credit Extension
to be made on such date.

 

(c) 
No Major Event of Default shall have occurred and be continuing or would result from the proposed Certain Funds Credit Extension
to be made on such date.

 

(d) 
It shall not be illegal for any Lender to lend and there is no injunction, restraining order or equivalent prohibiting
any Lender from funding its portion of such Certain Funds Credit Extensions; provided, that such Lender has used commercially
reasonable efforts to fund its such Certain Funds Credit Extensions through an Affiliate of such Lender not subject to such legal

 

 

 

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restriction; provided, further, that the
occurrence of such event in relation to one Lender shall not relieve any other Lender of its obligations hereunder.

 

(e)    The Administrative Agent shall
have received a Request for Extension of Credit otherwise in accordance with the requirements of this Agreement.

 

4.04 Determinations Under Sections
4.01, 4.02 and 4.03. For purposes of determining compliance with the conditions specified in Section 4.01, 4.02 and 4.03 (as
applicable), each Lender 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 the Lenders unless an officer of
Administrative Agent responsible for the transactions contemplated by this Agreement shall have received notice from such Lender
prior to the Effective Date, the Amendment No. 1 Effective Date or the date of any Extension of Credit, as applicable, specifying
its objection thereto. Administrative Agent (or its counsel) shall promptly notify the Lenders and Borrower in writing of the occurrence
of the Effective Date and of the occurrence of the Amendment No. 1 Effective Date, which writings shall be conclusive and irrevocable.

 

4.05 Actions by Lenders During
Certain Funds Period. Notwithstanding (x) anything to the contrary in this Agreement or any other Loan Document or (y) that
any condition set forth in Section 4.01, Section 4.02 or Section 4.03 may subsequently be determined not to have been satisfied,
during the Certain Funds Period (unless (i) a Major Event of Default has occurred and is continuing or, in respect of clause (c)
below, would result therefrom, (ii) in respect of clause (c) below, the conditions set forth in Section 4.03, as applicable, are
not satisfied or (iii) it becomes illegal for any Lender to maintain its Revolving Commitment; provided that such Lender
has used commercially reasonable efforts to maintain its Commitment through an Affiliate of such Lender not subject to a legal
restriction and that the occurrence of such event in relation to one Lender shall not enable any other Lender to cancel its Revolving
Commitment), each Lender shall comply with its obligations to fund any Certain Funds Credit Extension under the Loan Documents
and no Lender shall:

 

(a)
cancel any of its Revolving Commitments;

 

(b) 
rescind, terminate or cancel any Loan Document or exercise any similar right or remedy or make or enforce any claim under
any Loan Document it may have to the extent to do so would prevent or limit the funding of any Borrowing in respect of any Certain
Funds Credit Extension;

 

(c)
refuse to fund any Loan in respect of any Certain Funds Credit Extension;

 

(d) 
exercise any right of set-off or counterclaim in respect of any Loan to the extent to do so would prevent or limit the funding
of any Borrowing in respect of any Certain Funds Credit Extension;

 

(e) 
cancel, accelerate or cause repayment or prepayment of any amounts owing under any Loan Document to the extent to do so
would prevent or limit the funding of any Certain Funds Credit Extension; or

 

(f)  
take any other action or make or enforce any claim or exercise any rights, entitlements or remedies it may have against
any Loan Party or under the terms of any Loan Document to the extent to do so would, directly or indirectly, alter the conditions
to drawing of a Certain Funds Credit Extension in a manner that is adverse to Borrower;

 

 

 

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provided that immediately upon the expiration
of the Certain Funds Period all such rights, remedies and entitlements (to the extent otherwise available) shall be available to
the Lenders notwithstanding that they may not have been used or been available for use during the Certain Funds Period.

 

SECTION 5

 

REPRESENTATIONS AND WARRANTIES

 

Subject to Section 4.05, Borrower represents and warrants
to Administrative Agent and Lenders that:

 

5.01 Existence and Qualification;
Power; Compliance with Laws. Each of Borrower and its Restricted Subsidiaries (a) is a corporation, partnership or limited
liability company duly organized or formed, validly existing and in good standing under the Laws of the state of its organization,
except, with respect to any Restricted Subsidiary that is not a Loan Party, to the extent that the failure to be so organized,
formed, validly existing or in good standing does not have a Material Adverse Effect, and (b) is in compliance with all Laws, except
to the extent that noncompliance does not have a Material Adverse Effect.

 

5.02 Power; Authorization; Enforceable
Obligations. Each Loan Party has the power and authority and the legal right to execute, deliver and perform each Loan Document
to which it is a party, and has taken all necessary organizational action to authorize the execution, delivery and performance
of each Loan Document to which it is a party. Except for such consents, authorizations, filings or other acts which have been duly
made or obtained and are in full force and effect, no consent or authorization of, filing with, or other act by or in respect of
any Governmental Authority is required for the due execution, delivery or performance of this Agreement or any of the other Loan
Documents, except as would not reasonably be expected to have a material adverse effect on the validity or enforceability of this
Agreement or the Guarantee Agreement. Each Loan Document has been duly executed and delivered on behalf of each Loan Party party
thereto, and constitutes a legal, valid and binding obligation of each Loan Party party thereto, enforceable against each such
Loan Party in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other Laws
affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a
proceeding in equity or at law.

 

5.03 No Legal Bar. The execution,
delivery, and performance by each Loan Party of the Loan Documents to which it is a party do not and will not (a) violate or conflict
with, or result in a breach of, or require any consent under (i) such Loan Party’s organizational documents, (ii) any applicable
Laws which has a Material Adverse Effect, or (iii) any Contractual Obligation, license or franchise of any Loan Party or by which
any Loan Party or its property is bound or subject, in each case with respect to this clause (iii), which has a Material Adverse
Effect or (b) constitute a default under any such Contractual Obligation, license or franchise which has a Material Adverse Effect.

 

		5.04	Financial Statements; No Material Adverse Effect.

 

(a) 
The Reference Statements fairly present, in all material respects, the financial condition of Borrower and its consolidated
Subsidiaries as of the date thereof and their results of operations for the period covered thereby in accordance with GAAP consistently
applied throughout the period covered thereby, except as otherwise expressly noted therein.

 

 

 

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(b) From December 31, 2015 to the
Effective Date, there has been no event or circumstance which has a Material Adverse Effect.

 

5.05 Litigation. Except as
disclosed in Borrower’s public filings prior to the Effective Date, no litigation, investigation or proceeding of or before
an arbitrator or Governmental Authority is pending or, to the knowledge of Borrower, threatened by or against Borrower or any of
its Restricted Subsidiaries or against any of their properties or revenues that has a Material Adverse Effect.

 

5.06 Use of Proceeds. Borrower
will use the proceeds of the Extensions of Credit for general corporate purposes; provided that the proceeds of any Certain
Funds Credit Extension shall only be used for Certain Funds Purposes. No part of the proceeds of any Extensions of Credit hereunder
will be used for “purchasing” or “carrying” “margin stock” as so defined in a manner which
violates, or which would be inconsistent with, the provisions of Regulations T, U, or X of the Board of Governors of the Federal
Reserve System.

 

5.07 Anti-Corruption Laws and
Sanctions. Borrower has implemented and maintains in effect policies and procedures reasonably designed to promote compliance
by Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable
Sanctions, and Borrower, its Subsidiaries and to the knowledge of Borrower its officers, directors, employees and agents, are in
compliance with Anti-Corruption Laws and applicable Sanctions in all material respects. None of (a) Borrower, any Subsidiary or,
to the knowledge of Borrower or such Subsidiary, any of their respective directors, officers or employees, or (b) to the knowledge
of Borrower, any agent of Borrower or any Subsidiary that will act in any capacity in connection with or benefit from the credit
facility established hereby, is a Sanctioned Person.

 

SECTION 6

 

AFFIRMATIVE COVENANTS

 

Subject to Section 4.05, so long as
any Obligation remains unpaid, or any portion of the Revolving Commitments remains outstanding, Borrower shall, and shall (except
in the case of Borrower’s reporting covenants), cause each Restricted Subsidiary to:

 

6.01 Financial Statements.
Deliver to Administrative Agent and Lenders, in form and detail satisfactory to Administrative Agent:

 

(a) 
As soon as available but in any event within 105 days after the end of each fiscal year of Borrower, consolidated balance
sheets as at the end of such fiscal year and related consolidated statements of income and cash flows for such fiscal year of Borrower
and its consolidated Subsidiaries and certified by a Responsible Officer of Borrower, setting forth in comparative form the figures
for the previous fiscal year, all in reasonable detail, audited and accompanied by a report and opinion of independent certified
public accountants of nationally recognized standing reasonably acceptable to Administrative Agent, which report and opinion shall
not be subject to any “going concern” qualification or qualifications as to the scope of the audit.

 

(b) 
As soon as available, but in any event within 60 days after the end of each of the first three fiscal quarters of each fiscal
year of Borrower ending after the Effective Date, consolidated balance sheets as at the end of such fiscal quarter, and related
consolidated statements of income and cash flows for such fiscal quarter and for the portion of Borrower’s fiscal year then
ended, of Borrower and its consolidated Subsidiaries, setting forth in each case in comparative form the figures for the

 

 

 

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corresponding fiscal quarter of the previous fiscal year and
the corresponding portion of the previous fiscal year, all in reasonable detail and certified by a Responsible Officer of Borrower
as fairly presenting in all material respects the financial condition, results of operations and cash flows of Borrower and its
consolidated Subsidiaries in accordance with GAAP, subject only to pro forma adjustments and normal year-end audit adjustments.

 

(c)  Financial
statements and other documents required to be delivered pursuant to this Section 6.01 or Section 6.02(b) may be delivered
electronically and if so delivered, shall be deemed to have been delivered (i) to the extent such documents are included in
materials otherwise filed with the U.S. Securities and Exchange Commission, when such filing is available to the Lenders
on EDGAR or (ii)  in any case, on the date on which such documents are posted on
Borrower’s behalf on an Internet website to which each Lender and Administrative Agent has access.

 

6.02  
Certificates, Notices and Other Information. Deliver to Administrative Agent in form and detail satisfactory to Administrative
Agent:

 

(a) 
No later than the date required for the delivery of the financial statements referred to in Sections 6.01(a) and (b), a
duly completed Compliance Certificate (which shall include reconciliation of certain financial information with respect to the
Restricted Group) signed by a Responsible Officer of Borrower, which Compliance Certificate shall set forth the necessary adjustments
to exclude the Indebtedness and EBITDA attributed to Unrestricted Subsidiaries from the calculations set forth therein and shall
give pro forma effect to Material Acquisitions and Material Dispositions in accordance with Section 1.07;

 

(b) 
Promptly after the same are available, copies of all annual, regular, periodic and special reports and registration statements
which Borrower may file or be required to file with the Securities and Exchange Commission under Sections 13 or 15(d) of the Securities
Exchange Act of 1934, and not otherwise required to be delivered to Administrative Agent pursuant hereto;

 

(c) 
Promptly after a Responsible Officer of Borrower obtaining knowledge of the occurrence thereof, notice of any Default or
Event of Default specifying the nature thereof and what action Borrower has taken, is taking or proposes to take with respect thereto;

 

(d) 
Promptly after a Responsible Officer of Borrower obtaining knowledge of the occurrence thereof, notice of any ERISA Event
that has a Material Adverse Effect; and

 

(e) 
Promptly after such request, such other data and information as from time to time may be reasonably requested by Administrative
Agent or any Lender through Administrative Agent (it being understood that Borrower and its Subsidiaries shall not be required
to provide any information or documents that are subject to confidentiality provisions, the nature of which prohibit such disclosure,
or would violate any attorney-client privilege).

 

6.03 
Payment of Taxes. Pay and discharge when due all taxes, assessments and governmental charges or levies imposed on
it or on its income or profits or any of its property, except for any such tax, assessment, charge or levy which is being contested
in good faith and by appropriate proceedings, if adequate reserves with respect thereto are maintained on its books in accordance
with GAAP, and except for such payments which, if not paid, do not in the aggregate, have a Material Adverse Effect.

 

6.04 Preservation of Existence.
Preserve and maintain its existence, licenses, permits, rights, franchises and privileges necessary or desirable in the normal
conduct of its business, except

 

 

 

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where failure to do so does not have a Material Adverse Effect,
and except that nothing in this Section shall prohibit any transaction permitted by Section 7.03.

 

6.05 
Compliance With Laws. Comply with the requirements of all applicable Laws and orders of any Governmental Authority,
noncompliance with which has a Material Adverse Effect.

 

6.06 Inspection Rights. At
any time during regular business hours, upon reasonable notice, and as often as reasonably requested, but subject to Section 10.17,
permit Administrative Agent or any Lender, or any employee, agent or representative thereof, to examine (and during the existence
of an Event of Default, make copies and abstracts from) the records and books of account of Borrower and its Restricted Subsidiaries
and to visit and inspect their properties and to discuss their affairs, finances and accounts with any of their officers and key
employees; provided that, other than during the continuance of an Event of Default, no more than one such examination, visit
or inspection shall occur during any calendar year. Notwithstanding the foregoing, it is understood and agreed that Borrower and
its Subsidiaries shall not be required to provide or otherwise allow access to any information or documents that are subject to
confidentiality provisions, the nature of which prohibit such disclosure, or would violate any attorney-client privilege.

 

6.07 Keeping of Records and Books
of Account. Keep, in all material respects, proper books of record and account, in which entries shall be made sufficient to
permit the preparation of consolidated financial statements in accordance with GAAP.

 

6.08 Designation of Unrestricted Subsidiaries.
So long as no Default or Event of Default exists or arises as a result thereof and subject to the next succeeding sentence, Borrower
may from time to time designate a Restricted Subsidiary as an Unrestricted Subsidiary or designate an Unrestricted Subsidiary as
a Restricted Subsidiary; provided that Borrower shall (a) provide Administrative Agent written notification of such designation
prior to or concurrently therewith (which written notification Administrative Agent will promptly forward to Lenders), (b) if such
designation is a Material Acquisition (in the case of the designation of an Unrestricted Subsidiary as a Restricted Subsidiary)
or a Material Disposition (in the case of the designation of a Restricted Subsidiary as an Unrestricted Subsidiary), within 10
Business Days after such notification, deliver to Administrative Agent a certificate, in form reasonably acceptable to Administrative
Agent, demonstrating pro-forma compliance (in accordance with Section 1.07) with Section 7.06 immediately prior to and after giving
effect to such designation and (c) not designate as an Unrestricted Subsidiary any Guarantor that is a Significant Subsidiary and
that guarantees Material Debt unless such Guarantor is simultaneously released from its guarantee of such Material Debt. Notwithstanding
anything to the contrary contained herein, (x) each Guarantor shall at all times be a Restricted Subsidiary for all purposes hereunder
unless such Guarantor is simultaneously released as a Guarantor upon such designation as contemplated pursuant to Section 6.10,
(y) unless designated as an Unrestricted Subsidiary in compliance with clause (z) below, each Cable Subsidiary shall at all times
be a Restricted Subsidiary for all purposes hereunder, and (z) Borrower may designate a Cable Subsidiary as an Unrestricted Subsidiary
at any time when the Leverage Ratio (calculated after giving pro forma effect to such designation) is less than or equal to 4.50
to 1.00. Borrower hereby designates the Subsidiaries listed on Schedule 6.08 as Unrestricted Subsidiaries.

 

6.09 Anti-Corruption Laws and Sanctions.
Borrower will maintain in effect and enforce policies and procedures reasonably designed to promote compliance by Borrower, its
Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions.

 

 

 

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6.10 Guarantors. Any time after
the Effective Date, Borrower may cause any of its Subsidiaries to guarantee the Obligations of Borrower hereunder by delivering
to Administrative Agent an Assumption Agreement to the Guarantee Agreement, in form set forth on Annex 1 to the Guarantee Agreement
and executed by such proposed Guarantor. If, at any time following the Effective Date, a Guarantor ceases to be a Restricted Subsidiary
(including as a result of a redesignation of such Restricted Subsidiary as an Unrestricted Subsidiary) or ceases to be a Subsidiary,
in each case as a result of a transaction not otherwise prohibited hereunder, then such Guarantor’s guarantee of the Obligations
shall be automatically released and such Guarantor shall be automatically released from its obligations under the Guarantee Agreement.
In addition, if Borrower elects by notice in writing to Administrative Agent to cause such Guarantor to be released from its guarantee
of the Obligations, and a Responsible Officer of Borrower certifies in writing that immediately after giving effect to such release,
no Default or Event of Default shall have occurred and be continuing, then immediately upon the delivery of such notice and certification
to Administrative Agent such Guarantor’s guarantee of the Obligations shall be automatically released and such Guarantor
shall be automatically released from its obligations under the Guarantee Agreement. Notwithstanding the foregoing, no Guarantor
that is a Significant Subsidiary and that guarantees any Material Debt may be released from the Guarantee Agreement and its Guarantee
Obligation thereunder, including as a result of being designated as an Unrestricted Subsidiary, unless such Guarantor is simultaneously
released from its guarantee of such Material Debt. Administrative Agent shall execute such documents as Borrower shall reasonably
request to evidence the release contemplated by this Section 6.10.

 

SECTION 7

 

NEGATIVE COVENANTS

 

Subject to Section 4.05, so long as
any Obligations remain unpaid, or any portion of the Revolving Commitments remains outstanding:

 

7.01 Liens. Borrower
shall not, nor shall it permit any Restricted Subsidiary to, directly or indirectly, incur, assume or suffer to exist, any Lien
securing Indebtedness for borrowed money (including without duplication Guaranty Obligations in respect thereof) upon any of its
property, assets or revenues, whether now owned or hereafter acquired, except:

 

(a)
Liens pursuant to any Loan Document;

 

(b) 
Liens existing on the date hereof securing Indebtedness for borrowed money (including without duplication Guaranty Obligations
in respect thereof) that does not exceed $750,000,000 in the aggregate, and any renewals or extensions thereof, provided that such
Liens are not extended to cover any other property, assets or revenues;

 

(c)
Liens in favor of Borrower or any Restricted Subsidiary;

 

(d) 
Liens on “margin stock” (as defined in Regulation U of the Board of Governors of the Federal Reserve System);

 

(e) 
Liens on property acquired (by purchase, merger or otherwise) after the date hereof, existing at the time of acquisition
thereof (but not created in anticipation thereof), or placed thereon (at the time of such acquisition or within 180 days of such
acquisition to secure a portion of the purchase price thereof), and any renewals or extensions thereof, so long as the Indebtedness
secured thereby is permitted hereby; provided that such Liens do not and are not extended to cover any other property;

 

 

 

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(f) 
To the extent constituting Liens securing Indebtedness for borrowed money (including without duplication Guaranty Obligations
in respect thereof), Liens under Sale-Leaseback Transactions, and any renewals or extensions thereof, so long as the Indebtedness
secured thereby does not exceed $1,000,000,000 in the aggregate;

 

(g) 
Liens arising in connection with asset securitization transactions, so long as the aggregate outstanding principal amount
of the obligations secured thereby does not exceed $2,000,000,000 at any one time;

 

(h) 
Liens not otherwise permitted hereby which secure Indebtedness incurred pursuant to Asset Monetization Transactions;

 

(i) 
(A) Liens on any assets of the Target Group which Liens (i) are existing as of the Final Closing Date, (ii) are not incurred
to secure indebtedness financing the Target Acquisition and (iii) do not extend to other assets other than (x) after acquired property
that is automatically subject to such Lien, (y) proceeds and products of such property and any replacement, improvement, accessions
or additions thereto and (B) any modification, replacement, refinancing, renewal or extension of such Lien; and

 

(j) 
other Liens, so long as the aggregate outstanding principal amount of the Indebtedness for borrowed money (including without
duplication Guaranty Obligations in respect thereof) secured thereby does not exceed at any time an amount equal to (x) 15% of
Consolidated Net Tangible Assets minus (y) the amount, if any, of any unsecured Indebtedness incurred by any Restricted Subsidiary
that is not a Guarantor pursuant to Section 7.02.

 

7.02  
Non-Guarantor Subsidiary Indebtedness. Borrower shall not permit any of its Restricted Subsidiaries that are not
Guarantors to create, incur, assume or permit to exist any Indebtedness, except

 

(a) 
Indebtedness existing on the date hereof, in an aggregate amount not in excess of (i) the aggregate amount of the Asset
Monetization Transactions set forth on Schedule A plus (ii) $2,000,000,000, and all extensions, renewals and replacements of such
Indebtedness that do not increase the outstanding principal amount thereof;

 

(b)
Indebtedness of any Restricted Subsidiary to Borrower or any other Restricted Subsidiary;

 

(c) 
(A) Indebtedness of the Target Group that (i) is existing as of the Final Closing Date and (ii) is not incurred to finance
the Target Acquisition and (B) any modification, replacement, refinancing, renewal or extension of such Indebtedness; and

 

(d) 
Indebtedness in an aggregate principal amount for all such Restricted Subsidiaries that are not Guarantors not exceeding
at any time (x) 15% of Consolidated Net Tangible Assets minus (y) the amount, if any, of Indebtedness for borrowed money (including
without duplication Guaranty Obligations in respect thereof) of any Loan Party secured pursuant to Section 7.01(j).

 

7.03  
Fundamental Changes. (a) Borrower shall not (A) merge or consolidate with or into any Person or (B) liquidate, wind-up
or dissolve itself or (C) sell, transfer or dispose of all or substantially all of its assets, provided that nothing in this Section
7.03 shall be construed to prohibit Borrower from reincorporating in another jurisdiction permitted by clause (iii) below, changing
its

 

 

 

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form of organization or merging into, or transferring
all or substantially all of its assets to, another Person so long as:

 

(i) 
either (x) Borrower shall be the surviving entity with substantially the same assets immediately following the reincorporation
or reorganization or (y) the surviving entity or transferee (the “Successor Corporation”) shall, immediately following
the merger or transfer, as the case may be, (A) have substantially all of the assets of Borrower immediately preceding the merger
or transfer, as the case may be, (B) have duly assumed all of Borrower’s obligations hereunder and under the other Loan Documents
in form and substance satisfactory to Administrative Agent (and, if requested by Administrative Agent, the Successor Corporation
shall have delivered an opinion of counsel as to the assumption of such obligations) and (C) either (I) have then-effective ratings
(or implied ratings) published by Moody’s or S&P applicable to such Successor Corporation’s senior, unsecured,
non-credit-enhanced, long term indebtedness for borrowed money, which ratings shall be either Baa3 or higher (if assigned by Moody’s)
or BBB- or higher (if assigned by S&P) or (II) be acceptable to Required Lenders;

 

(ii) 
immediately after giving effect to such transaction no Default or Event of Default shall have occurred and be continuing;
and

 

(iii) 
Borrower or a Successor Corporation’s jurisdiction of organization shall be a state within in the United States of
America or the District of Columbia.

 

(b) Borrower and its Restricted Subsidiaries,
taken as a whole, shall continue to operate cable, media and other communications businesses as its primary lines of business.

 

Notwithstanding anything to the contrary
herein, for the avoidance of doubt, this Section 7.03 shall not apply to the Target Acquisition or any transactions undertaken
to implement the Target Acquisition, in accordance with the Offer Documents or the Scheme Documents and the Target Acquisition
shall be permitted hereunder.

 

7.04 ERISA. Borrower shall
not, nor shall it permit any Restricted Subsidiary to, directly or indirectly, at any time permit (a) any Plan to (i) engage in
any non-exempt “prohibited transaction” (as defined in Section 4975 of the Code) or (ii) fail to comply with ERISA
or any other Laws applicable to a Plan or (b) the occurrence of any ERISA Event; which, with respect to each event described in
clauses (a) or (b) above, has a Material Adverse Effect.

 

7.05 Anti-Corruption Laws and Sanctions.
Borrower will not request any Borrowing or Letter of Credit, and Borrower shall not use, and shall not make available to its Subsidiaries
and its or their respective directors, officers, employees and agents, the proceeds of any Borrowing or Letter of Credit (A) in
furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value,
to any Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding, financing or facilitating any activities,
business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, except to the extent such activities, business
or transaction are not prohibited by any Sanctions applicable to Borrower or any of its Subsidiaries, or (C) in any manner that
would result in the violation of any Sanctions applicable to any party hereto.

 

7.06 Financial Covenant.
Borrower shall not permit the Leverage Ratio as of the end of any fiscal quarter of Borrower to be greater than 5.75 to 1.00.

 

 

 

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SECTION 8

 

EVENTS OF DEFAULT AND REMEDIES

 

8.01 Events of Default. Subject
to Section 4.05, any one or more of the following events shall constitute an Event of Default:

 

(a) 
Borrower fails to pay any principal on any of its Outstanding Revolving Obligations or Competitive Loans (other than fees)
on the date when due; or

 

(b) 
Borrower fails to pay any interest on any of its Outstanding Revolving Obligations or Competitive Loans, or any commitment
fees, within five days after the date when due; or fails to pay any other fees or amount payable to Administrative Agent or any
Lender under any Loan Document within five days after the date when due or, if applicable, after demand is made for the payment
thereof; or

 

(c) 
Any default occurs in the observance or performance of any agreement contained in Section 6.02(c), 7.03 or 7.06; or

 

(d) 
Any Loan Party fails to perform or observe any other covenant or agreement (not specified in subsections (a), (b) or (c)
above) contained in any Loan Document on its part to be performed or observed and such failure continues for 30 days after notice
thereof to Borrower from Administrative Agent or any Lender; or

 

(e) 
Any representation or warranty by any Loan Party in this Agreement or any other Loan Document or any Compliance Certificate
proves to have been incorrect in any material respect when made or deemed made; or

 

(f) 
(i) Borrower or any Restricted Subsidiary (x) defaults in any payment when due (giving effect to any stated grace periods)
of principal of or interest on any Indebtedness (other than the Obligations) having an aggregate principal amount in excess of
the Threshold Amount or (y) defaults in the observance or performance of any other agreement or condition relating to any Indebtedness
(other than the Obligations) or contained in any instrument or agreement evidencing, securing or relating thereto, and as a consequence,
Indebtedness having an aggregate principal amount in excess of the Threshold Amount shall have become due (automatically or otherwise)
or shall have been required to be redeemed prior to its stated maturity (provided that to the extent that any acceleration
referred to in the preceding provisions of this Section 8.01(f) is duly rescinded by the required holders of the applicable Indebtedness,
such acceleration shall cease to be an Event of Default hereunder, unless and except to the extent that Administrative Agent has
theretofore exercised remedies hereunder pursuant to Section 8.02), or (ii) Borrower or any Guarantor shall generally not pay its
debts as they become due or shall admit in writing its inability to pay its debts as they mature; or

 

(g) 
The Guarantee Agreement, at any time after its execution and delivery and for any reason other than the agreement of Required
Lenders or all Lenders, as may be required hereunder, or satisfaction in full of all the Obligations, ceases to be in full force
and effect or is declared by a court of competent jurisdiction to be null and void, invalid or unenforceable in any material respect;
or a Guarantor denies in writing that it has any or further liability or obligation under the Guarantee Agreement, or purports
to revoke, terminate or rescind the Guarantee Agreement in writing; or

 

(h) 
A final non-appealable judgment against Borrower or any of its Significant Subsidiaries is entered for the payment of money
(which is not covered by insurance) in excess of the

 

 

 

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Threshold Amount if such judgment remains unsatisfied
without procurement of a stay of execution for 60 calendar days after the date of entry of such judgment; or

 

(i) 
Borrower or any of its Significant Subsidiaries institutes or consents to the institution of any proceeding under Debtor
Relief Laws, or makes an 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 that Person and the appointment continues undischarged or unstayed for 60 calendar days; or any proceeding under
Debtor Relief Laws relating to any such Person or to all or any part of its property is instituted without the consent of that
Person and continues undismissed or unstayed for 60 calendar days, or an order for relief is entered in any such proceeding; or

 

(j)
There occurs any Change of Control.

 

8.2  
Remedies Upon Event of Default. Without limiting any other rights or remedies of Administrative Agent or Lenders
provided for elsewhere in this Agreement, or the other Loan Documents, or by applicable Law, or in equity, or otherwise (but subject
in all cases to the limitations set forth in Section 4.05):

 

(a) Upon the occurrence, and during
the continuance, of any Event of Default (other than an Event of Default described in Section 8.01(i) that shall occur following
the Certain Funds Termination Date):

 

(i) 
Administrative Agent may, with the consent of the Required Lenders, and (subject to the terms of Section 9) shall, upon
the request of Required Lenders, terminate the Revolving Commitments and/or declare all or any part of the unpaid principal of
all Loans, all interest accrued and unpaid thereon and all other amounts payable under the Loan Documents to be immediately due
and payable, whereupon the same shall become and be immediately due and payable, without protest, presentment, notice of dishonor,
demand or further notice of any kind, all of which are expressly waived by Borrower; and

 

(ii) 
Administrative Agent may, with the consent of the Required Lenders, and (subject to the terms of Section 9) shall, upon
the request of Required Lenders, demand immediate payment by Borrower of an amount equal to the aggregate amount of all outstanding
Letter of Credit Usage to be held in a Letter of Credit Cash Collateral Account.

 

(b) 
If (x) following the expiration of the Certain Funds Period, any Event of Default described in Section 8.01(i) occurs or
(y) during the Certain Funds Period, an Event of Default described in Section 8.01(i) occurs that is a Major Event of Default,
then:

 

(i) 
The Revolving Commitments and all other obligations of Administrative Agent or Lenders shall automatically terminate without
notice to or demand upon Borrower, which is expressly waived by Borrower;

 

(ii) 
The unpaid principal of all Loans, all interest accrued and unpaid thereon and all other amounts payable under the Loan
Documents shall be immediately due and

 

 

 

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payable, without protest, presentment, notice of
dishonor, demand or further notice of any kind, all of which are expressly waived by Borrower; and

 

(iii) An amount equal to the aggregate
amount of all outstanding Letter of Credit Usage shall be immediately due and payable to Administrative Agent without notice to
or demand upon Borrower, which is expressly waived by Borrower, to be held in a Letter of Credit Cash Collateral Account.

 

(c) 
Upon the occurrence of any Event of Default, Administrative Agent may, with the consent of the Required Lenders, and (subject
to the terms of Section 9) shall, upon the request of Required Lenders, protect, exercise and enforce against Borrower the rights
and remedies of Administrative Agent and Lenders under the Loan Documents and such other rights and remedies as are provided by
Law or equity.

 

(d) 
The order and manner in which Administrative Agent’s and Lenders’ rights and remedies are to be exercised shall
be determined by Administrative Agent or Required Lenders in their sole and absolute discretion. Regardless of how a Lender may
treat payments for the purpose of its own accounting, for the purpose of computing the Obligations hereunder, payments received
during the existence of an Event of Default shall be applied first, to costs and expenses (including Attorney Costs) incurred by
Administrative Agent and each Lender (to the extent that each Lender has a right to reimbursement thereof pursuant to the Loan
Documents), second, to the payment of accrued and unpaid interest on the Obligations to and including the date of such application,
third, to the payment of, or as cash collateral for, the unpaid principal of the Obligations, and fourth, to the payment of all
other amounts (including fees) then owing to Administrative Agent and Lenders under the Loan Documents, in each case paid pro rata
to each Lender in the same proportions that the aggregate Obligations owed to each Lender under the Loan Documents bear to the
aggregate Obligations owed under the Loan Documents to all Lenders, without priority or preference among Lenders, subject to the
last parenthetical of Section 2.01(a) of the Guarantee Agreement.

 

8.03  
Clean-Up Period. Notwithstanding anything in any Loan Document to the contrary, for a period commencing on the Amendment
No. 1 Effective Date and ending on the Clean-Up Period Termination Date, any breach of covenants, misrepresentation or other Default
or Event of Default (except as otherwise specified in Section 10.01(c)) which arises with respect to the Target Group only will
be deemed not to be a breach of representation or warranty, a breach of covenant, a Default or an Event of Default, as the case
may be, if:

 

(a) 
it relates exclusively to the Target Group (or any obligation to procure or ensure any action in relation to the Target
Group);

 

(b) 
it is capable of remedy and reasonable steps (consistent with Borrower’s level of control of the Target) are being
taken to remedy it;

 

(c) 
the circumstances giving rise to it have not been procured by or approved by Borrower or any of its Subsidiaries (other
than a member of the Target Group); and

 

(d)
it is not reasonably likely to have a Material Adverse Effect;

 

provided that, if the relevant circumstances
are continuing on or after the Clean-Up Period Termination Date, there shall be a breach of representation or warranty, breach
of covenant, Default or Event of Default, as the case may be, notwithstanding this Section 8.03.

 

 

 

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SECTION 9

 

THE AGENTS

 

9.01 Appointment. Each Lender
hereby irrevocably designates and appoints Administrative Agent as the agent of such Lender under this Agreement and the other
Loan Documents, and each such Lender irrevocably authorizes Administrative Agent, in such capacity, to take such action on its
behalf under the provisions of this Agreement and the other Loan Documents and to exercise such powers and perform such duties
as are expressly delegated to Administrative Agent by the terms of this Agreement and the other Loan Documents, together with such
other powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary elsewhere in this Agreement, Administrative
Agent shall not have any duties or responsibilities, except those expressly set forth herein, or any fiduciary relationship with
any Lender, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement
or any other Loan Document or otherwise exist against Administrative Agent.

 

9.02 Delegation of Duties.
Administrative Agent may execute any of its duties under this Agreement and the other Loan Documents by or through agents or attorneys-in-fact
and shall be entitled to advice of counsel concerning all matters pertaining to such duties. Administrative Agent shall not be
responsible for the negligence or misconduct of any agents or attorneys-in-fact selected by it with reasonable care.

 

9.03 Exculpatory Provisions. Neither
any Agent nor any of their respective officers, directors, employees, agents, attorneys-in-fact or affiliates shall be (i) liable
for any action lawfully taken or omitted to be taken by it or such Person under or in connection with this Agreement or any other
Loan Document (except to the extent that any of the foregoing are found by a final and nonappealable decision of a court of competent
jurisdiction to have resulted from its or such Person’s own gross negligence or willful misconduct) or (ii) responsible in
any manner to any of the Lenders for any recitals, statements, representations or warranties made by any Loan Party or any officer
thereof contained in this Agreement or any other Loan Document or in any certificate, report, statement or other document referred
to or provided for in, or received by the Agents under or in connection with, this Agreement or any other Loan Document or for
the value, validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document or
for any failure of any Loan Party a party thereto to perform its obligations hereunder or thereunder. The Agents shall not be under
any obligation to any Lender to ascertain or to inquire as to the observance or performance of any of the agreements contained
in, or conditions of, this Agreement or any other Loan Document, or to inspect the properties, books or records of any Loan Party.

 

9.04 Reliance by Administrative Agent.
(a) Administrative Agent shall be entitled to rely, and shall be fully protected in relying, upon any instrument, writing, resolution,
notice, consent, certificate, affidavit, letter, telecopy, telex or teletype message, statement, order or other document or conversation
believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice
and statements of legal counsel (including counsel to Borrower), independent accountants and other experts selected by Administrative
Agent. Administrative Agent shall be fully justified in failing or refusing to take any action under this Agreement or any other
Loan Document unless it shall first receive such advice or concurrence of the Required Lenders (or, if so specified by this Agreement,
all Lenders) as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders against any and all liability
and expense that may be incurred by it by reason of taking or continuing to take any such action. Administrative Agent shall in

 

 

 

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all cases be fully protected in acting, or in refraining from
acting, under this Agreement and the other Loan Documents in accordance with a request of the Required Lenders (or, if so specified
by this Agreement, all Lenders), and such request and any action taken or failure to act pursuant thereto shall be binding upon
all Lenders and all future holders of the Loans.

 

(b) For purposes of determining compliance
with the conditions specified in Section 4.01, absent Requisite Notice by such Lender to Administrative Agent to the contrary,
each Lender shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter either
sent by Administrative Agent to each Lender for consent, approval, acceptance or satisfaction, or required thereunder to be consented
to or approved by or acceptable or satisfactory to a Lender.

 

9.05 Notice of Default. Administrative
Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless Administrative
Agent has received notice from a Lender or Borrower referring to this Agreement, describing such Default or Event of Default and
stating that such notice is a “notice of default”. In the event that Administrative Agent receives such a notice, Administrative
Agent shall give notice thereof to Lenders. Administrative Agent shall take such action with respect to such Default or Event of
Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders); provided
that unless and until Administrative Agent shall have received such directions, Administrative Agent may (but shall not be
obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall
deem advisable in the best interests of Lenders.

 

9.06 Non-Reliance on Agents and
Other Lenders. Each Lender expressly acknowledges that neither the Agents nor any of their respective officers, directors,
employees, agents, attorneys-in-fact or affiliates have made any representations or warranties to it and that no act by any Agent
hereafter taken, including any review of the affairs of a Loan Party or any affiliate of a Loan Party, shall be deemed to constitute
any representation or warranty by any Agent to any Lender. Each Lender represents to the Agents that it has, independently and
without reliance upon any Agent or any other Lender, and based on such documents and information as it has deemed appropriate,
made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness
of the Loan Parties and their affiliates and made its own decision to make its Loans hereunder and enter into this Agreement. Each
Lender also represents that it will, independently and without reliance upon any Agent or any other Lender, and based on such documents
and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in
taking or not taking action under this Agreement and the other Loan Documents, and to make such investigation as it deems necessary
to inform itself as to the business, operations, property, financial and other condition and creditworthiness of the Loan Parties
and their affiliates. Except for notices, reports and other documents expressly required to be furnished to Lenders by Administrative
Agent hereunder, Administrative Agent shall not have any duty or responsibility to provide any Lender with any credit or other
information concerning the business, operations, property, condition (financial or otherwise), prospects or creditworthiness of
any Loan Party or any affiliate of a Loan Party that may come into the possession of Administrative Agent or any of its officers,
directors, employees, agents, attorneys-in-fact or affiliates.

 

9.07 Indemnification. Lenders
agree to indemnify each Agent and Issuing Lender in its capacity as such (to the extent not reimbursed by the Loan Parties and
without limiting the obligation of any Loan Party to do so), ratably according to their respective Aggregate Exposure Percentage
in effect on the date on which indemnification is sought under this Section (or, if indemnification is sought after the date upon
which the Revolving Commitments shall have terminated and the Loans shall have been paid in full, ratably in accordance with such
Aggregate Exposure

 

 

 

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Percentage immediately prior to such date), from and
against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements
of any kind whatsoever that may at any time (whether before or after the payment of the Loans) be imposed on, incurred by or asserted
against such Agent in any way relating to or arising out of, the Revolving Commitments, this Agreement, any of the other Loan Documents
or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby or any action
taken or omitted by such Agent under or in connection with any of the foregoing; provided that no Lender shall be liable
for the payment of any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses or disbursements that are found by a final and nonappealable decision of a court of competent jurisdiction to have resulted
from such Agent’s gross negligence or willful misconduct. The agreements in this Section shall survive the payment of the
Loans and all other amounts payable hereunder.

 

9.08 Agent in Its Individual Capacity.
Each Agent and its affiliates may make loans to, accept deposits from and generally engage in any kind of business with any Loan
Party and its affiliates as though such Agent were not an Agent. With respect to its Loans made or renewed by it and with respect
to any Letter of Credit issued or participated in by it, each Agent shall have the same rights and powers under this Agreement
and the other Loan Documents as any Lender and may exercise the same as though it were not an Agent, and the terms “Lender”
and “Lenders” shall include each Agent in its individual capacity.

 

9.09 Successor
Administrative Agent. Administrative Agent may resign as Administrative Agent upon 30 days’ notice to Lenders and Borrower.
If Administrative Agent shall resign as Administrative Agent under this Agreement and the other Loan Documents, then the Required
Lenders shall appoint from among Lenders a successor agent for Lenders, which successor agent shall (unless an Event of Default
under Section 8.01(a), Section 8.01(b) or Section 8.01(i) with respect to Borrower shall have occurred and be continuing) be subject
to approval by Borrower (which approval shall not be unreasonably withheld or delayed), whereupon such successor agent shall succeed
to the rights, powers and duties of Administrative Agent, and the term “Administrative Agent” shall mean such successor
agent effective upon such appointment and approval, and the former Administrative Agent’s rights, powers and duties as Administrative
Agent shall be terminated, without any other or further act or deed on the part of such former Administrative Agent or any of
the parties to this Agreement or any holders of the Loans. If no successor agent has accepted appointment as Administrative Agent
by the date that is 30 days following a retiring Administrative Agent’s notice of resignation, the retiring Administrative
Agent’s resignation shall nevertheless thereupon become effective, and Lenders shall assume and perform all of the duties
of Administrative Agent hereunder until such time, if any, as the Required Lenders appoint a successor agent as provided for above.
After any retiring Administrative Agent’s resignation as Administrative Agent, the provisions of this Section 9 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent under
this Agreement and the other Loan Documents.

 

9.10 Co-Documentation Agents and Syndication Agent. None of Co-Documentation Agents nor Syndication Agent nor any Person
identified on the cover page of this Agreement as a Joint Lead Arranger and Joint Bookrunner shall have any right, power, obligation,
liability, responsibility or duty hereunder in its capacity as such. Without limiting the foregoing, none of Co-Documentation Agents
or Syndication Agent in its capacity as such shall have or be deemed to have any fiduciary relationship with any Lender. Each Lender
acknowledges that it has not relied, and will not rely, on any of Co-Documentation Agents or Syndication Agent in deciding to enter
into this Agreement or in taking or not taking action hereunder.

 

 

 

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9.11
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, Administrative Agent and each Arranger and their respective Affiliates, and not, for the avoidance of doubt, to or for the
benefit of Borrower or any other Loan Party, that at least one of the following is and will be true:

 

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

 

(ii) 
the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined
by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance
company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts),
PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption
for certain transactions determined by in-house asset managers), is applicable with respect to such Lender’s entrance into,
participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement,

 

(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 Administrative Agent, in its sole discretion,
and such Lender.

 

(b) 
In addition, unless Section 9.11(a)(i) is true with respect to a Lender or such Lender has not provided another representation,
warranty and covenant as provided in sub-clause (iv) in the immediately preceding clause (a), such Lender further (x) represents
and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became
a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, Administrative Agent and
each Arranger and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of Borrower or any other
Loan Party, that:

 

(i) 
none of Administrative Agent or any Arranger or any of their respective Affiliates is a fiduciary with respect to the assets
of such Lender (including in connection with the reservation or exercise of any rights by Administrative Agent under this Agreement,
any other Loan Document or any documents related to hereto or thereto),

 

 

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(ii) 
the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in,
administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is independent (within
the meaning of 29 CFR § 2510.3-21) and is a bank, an insurance carrier, an investment adviser, a broker-dealer or other person
that holds, or has under management or control, total assets of at least $50,000,000, in each case as described in 29 CFR §
2510.3-21(c)(1)(i)(A)-(E),

 

(iii) 
the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in,
administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is capable of evaluating
investment risks independently, both in general and with regard to particular transactions and investment strategies (including
in respect of the Obligations),

 

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

 

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

 

(c) 
Administrative Agent and each Arranger hereby informs the Lenders that each such Person is not undertaking to provide impartial
investment advice, or to give advice in a fiduciary capacity, in connection with the transactions contemplated hereby, and that
such Person has a financial interest in the transactions contemplated hereby in that such Person or an Affiliate thereof (i) may
receive interest or other payments with respect to the Loans, the Commitments and this Agreement, (ii) may recognize a gain if
it extended the Loans or the Commitments for an amount less than the amount being paid for an interest in the Loans or the Commitments
by such Lender or (iii) may receive fees or other payments in connection with the transactions contemplated hereby or by the other
Loan Documents or otherwise, including structuring fees, commitment fees, arrangement fees, facility fees, upfront fees, underwriting
fees, ticking fees, agency fees, administrative agent or collateral agent fees, utilization fees, minimum usage fees, letter of
credit fees, fronting fees, deal-away or alternate transaction fees, amendment fees, processing fees, term out premiums, banker’s
acceptance fees, breakage or other early termination fees or fees similar to the foregoing.

 

SECTION 10

 

MISCELLANEOUS

 

10.01 Amendments; Consents. NoSubject
to Section 3.03(b), no amendment, modification, supplement, extension, termination or waiver of any provision of this
Agreement or any other Loan Document, no approval or consent thereunder, and no consent to any departure by any Loan Party therefrom
shall be effective unless in writing signed by each Loan Party party thereto and Required Lenders and acknowledged by Administrative
Agent (or signed by Administrative Agent with the prior written consent of Required Lenders), and each such waiver or consent shall
be effective only in the specific instance and for the specific purpose for which given. Notwithstanding the foregoing

 

 

 

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sentence,
without the approval in writing of Borrower, Administrative Agent and each Lender directly and adversely affected thereby, no
amendment, modification, supplement, termination, waiver, approval, or consent may be effective to:

 

(a) 
Reduce the amount of principal of any Outstanding Revolving Obligations or Competitive Loans owed to such Lender;

 

(b) 
Reduce the rate of interest payable on any Outstanding Revolving Obligations or Competitive Loans owed to such Lender or
the amount or rate of any fee or other amount payable to such Lender under the Loan Documents, except that Required Lenders may
waive or defer the imposition of the Default Rate;

 

(c) 
Waive an Event of Default consisting of the failure of Borrower to pay when due principal, interest, any commitment fee,
or any other amount payable to such Lender under the Loan Documents;

 

(d) 
Postpone any date scheduled for the payment of principal of, or interest on, any Loan or any Letter of Credit reimbursement
obligation or for the payment of any commitment fee or for the payment of any other amount, in each case payable to such Lender
under the Loan Documents, or extend the term of, or increase the amount of, such Lender’s Revolving Commitment (it being
understood that a waiver of any Event of Default not referred to in subsection (c) above shall require only the consent of Required
Lenders) or modify such Lender’s share of the Revolving Commitments (except as contemplated hereby);

 

(e) 
Amend or waive the definition of “Required Lenders” or the provisions of this Section 10.01 or Section 10.06;

 

(f) 
Amend or waive any provision of this Agreement that expressly requires the consent or approval of such Lender;

 

provided, however, that (i) no amendment, waiver or consent
shall, unless in writing and signed by the affected Issuing Lender in addition to Required Lenders or each affected Lender, as
the case may be, affect the rights or duties of such Issuing Lender, (ii) no amendment, waiver or consent shall, unless in writing
and signed by Administrative Agent in addition to Required Lenders or each affected Lender, as the case may be, affect the rights
or duties of Administrative Agent, (iii) any fee letters may be amended, or rights or privileges thereunder waived, in a writing
executed by the parties thereto, (iv) any amendment, waiver, or consent to a Letter of Credit Application which is not inconsistent
with Section 2.03 shall require only the written approval of Borrower, Administrative Agent and the applicable Issuing Lender,
(v) except as otherwise contemplated hereunder, without the written consent of all Lenders, no amendment, waiver or consent shall
release all or substantially all of Guarantors from their obligations under the Guarantee Agreement and (vi) without the written
consent of all Lenders, no amendment, waiver or consent shall add an Alternative Currency or change the currency of any Loan or
other amount outstanding hereunder.

 

In the event that any Lender does not consent to any proposed
amendment, supplement, modification (including the addition of an Alternative Currency), consent or waiver of any provision of
this Agreement or any other Loan Document that requires the consent of each of the Lenders or each of the Lenders directly and
adversely affected thereby, so long as the consent of Required Lenders has been obtained, Borrower shall be permitted to remove
or replace such Lender in accordance with Section 10.21.

 

 

 

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Any amendment, modification, supplement, termination,
waiver or consent pursuant to this Section shall apply equally to, and shall be binding upon, all Lenders and Administrative Agent.

 

For the avoidance of doubt, the Letter of Credit Commitment
of any Issuing Lender may be amended with the consent of Borrower and such Issuing Lender without the need to obtain the consent
of the other Lenders.

 

		10.02	Requisite Notice; Electronic Communications.

 

(a) 
Requisite Notice. Notices given in connection with any Loan Document shall be delivered to the intended recipient
at the number and/or address (including email address) set forth in the case of Borrower, Administrative Agent and Issuing Lenders
on Schedule 10.02, and in the case of Lenders, on the Administrative Questionnaire (or as otherwise specified from time to time
by such recipient in writing to Administrative Agent) and shall be given by (i) irrevocable written notice or (ii) except as otherwise
provided, irrevocable telephonic (not voicemail) notice. Such notices may be delivered and shall be effective as follows:

 

	Mode of Delivery	 
	 	 
	Mail 	Effective on earlier of actual receipt and fourth
    Business Day after deposit in U.S. Mail, first class postage pre-paid
	 	 
	Courier or hand delivery	When received
	 	 
	Telephone (not voicemail)	When conversation completed (must be confirmed
    in writing) 
	 	 
	Facsimile	When sent (except that, if not given during
    normal business hours for the recipient, shall be deemed to be giving at opening of business on next Business Day for recipient)
	 	 
	Electronic Mail	When delivered (usage subject to subsection
    (b) below)

 

(b) Usage of Electronic Communications.
Notices and other communications to Administrative Agent, the Lenders and the Issuing Lender hereunder may be delivered or furnished
by using Electronic Systems pursuant to procedures approved by Administrative Agent; provided that the foregoing shall not
apply to notices pursuant to Section 2 if such Lender has notified Administrative Agent and Borrower that it is incapable of receiving
notices under such Section by Electronic Communications. Administrative Agent or Borrower may, in its discretion, agree to accept
notices and other communications to it hereunder by Electronic Communications pursuant to procedures approved by it; provided
that approval of such procedures may be limited to particular notices or communications.

 

Unless Administrative Agent otherwise
prescribes, (i) notices and other communications sent to an email address shall be deemed received upon the sender’s receipt
of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available,
return email or other written acknowledgement), and (ii) notices or communications posted to an Internet or intranet website shall
be deemed received upon the deemed receipt by the intended recipient, at its e-mail address

 

 

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as described in the foregoing clause (i), of notification that
such notice or communication is available and identifying the website address therefor; provided that, for both clauses
(i) and (ii) above, if such notice, email or other communication is not sent during the normal business hours of the recipient,
such notice or communication shall be deemed to have been sent at the opening of business on the next Business Day for the recipient.

 

(c) 
Any party hereto may change its address or telecopy number for notices and other communications hereunder by notice to the
other parties hereto.

 

(d)  Reliance
by Administrative Agent and Lenders. Administrative Agent and Lenders shall be entitled to rely and act upon any notices
purportedly given by or on behalf of Borrower even if (i)  such notices were not
made in a manner specified herein, were incomplete or were not preceded or followed by any other notice specified herein, or
(ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. Borrower shall indemnify
Administrative Agent-Related Persons and Lenders from any loss, cost, expense or liability as a result of relying on any
notices purportedly given by or on behalf of Borrower absent the gross negligence or willful misconduct of the Person seeking
indemnification.

 

(e)
Electronic Systems.

 

(i) 
Each Loan Party agrees that Administrative Agent may, but shall not be obligated to, make Communications available to the
Issuing Lenders and the other Lenders by posting the Communications on Debt Domain, Intralinks, Syndtrak, ClearPar or a substantially
similar Electronic System.

 

(ii) 
Any Electronic System used by Administrative Agent is provided “as is” and “as available.” The Agent
Parties (as defined below) do not warrant the adequacy of such Electronic Systems and expressly disclaim liability for errors or
omissions in the Communications. No warranty of any kind, express, implied or statutory, including any warranty of merchantability,
fitness for a particular purpose, non-infringement of third-party rights or freedom from viruses or other code defects, is made
by any Agent Party in connection with the Communications or any Electronic System. In no event shall Administrative Agent or any
of its Affiliates and its and their respective directors, officers, employees, agents and advisors (collectively, the “Agent
Parties”) have any liability to Borrower or the other Loan Parties, any Lender, the Issuing Lender or any other Person or
entity for damages of any kind arising out of Borrower’s, any Loan Party’s or Administrative Agent’s transmission
of Communications through an Electronic System, except to the extent such damages arise from bad faith, gross negligence or willful
misconduct on the part of any Agent Party as determined by a final non-appealable judgment of a court of competent jurisdiction,
provided that in no event shall any Agent Party be liable for any indirect, special, incidental or consequential damages, losses
or expenses (whether in tort, contract or otherwise).

 

10.03    
Attorney Costs and Expenses. Borrower agrees (a) to pay or reimburse Administrative Agent, each Issuing Lender and
Syndication Agent for all reasonable and documented costs and expenses incurred in connection with the development, preparation,
negotiation and execution of the Loan Documents, and to pay or reimburse Administrative Agent for all reasonable and documented
costs and expenses incurred in connection with the development, preparation, negotiation and execution of any amendment, waiver,
consent, supplement or modification to, any Loan Documents, and any other documents prepared in connection herewith or therewith,
and the consummation and administration of the transactions contemplated hereby and thereby, including all

 

 

 

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Attorney Costs of one counsel to Administrative Agent,
each Issuing Lender and Syndication Agent and (b) to pay or reimburse Administrative Agent, each Issuing Lender and each Lender
for all reasonable and documented costs and expenses incurred in connection with any restructuring, reorganization (including a
bankruptcy reorganization) or enforcement or attempted enforcement of, or preservation of any rights under, any Loan Documents,
and any other documents prepared in connection herewith or therewith, or in connection with any refinancing or restructuring of
any such documents in the nature of a “workout” or of any insolvency or bankruptcy proceeding, including Attorney Costs
of one counsel to Administrative Agent, each Issuing Lender and each Lender (and, if representation of Administrative Agent, each
Issuing Lender and each Lender in such matter by a single counsel would be inappropriate based on the advice of legal counsel due
to the existence of an actual or potential conflict of interest, of another firm of counsel for such affected Person(s) (taken
as a whole) and, if necessary, one firm of local counsel in any relevant local jurisdiction (which may include a single special
counsel acting in multiple jurisdictions) for such affected Person(s)). The agreements in this Section shall survive repayment
of all Obligations.

 

10.04
Binding Effect; Assignment.

 

(a) 
This Agreement and the other Loan Documents to which Borrower is a party will be binding upon and inure to the benefit of
Borrower, Administrative Agent, Lenders and their respective successors and assigns, except that, Borrower may not, except as permitted
by Section 7.03, assign its rights hereunder or thereunder or any interest herein or therein without the prior written consent
of all Lenders and any such attempted assignment shall be void. Any Lender may at any time pledge a Note or any other instrument
evidencing its rights as a Lender under this Agreement (including to a Federal Reserve Bank or other central bank having jurisdiction
over such Lender or, if such Lender is a fund, to any trustee or to any other representative of holders of obligations owed or
securities issued by such fund as security for such obligations or securities) but no such pledge shall release such Lender from
its obligations hereunder or grant to any such pledgee the rights of a Lender hereunder absent foreclosure of such pledge, and
any transfer to any Person upon the enforcement of such pledge shall be subject to this Section 10.04.

 

(b) 
From time to time following the date of this Agreement, each Lender may assign all or any portion of its rights and obligations
under this Agreement and the other Loan Documents to one or more Eligible Assignees, other than (i) Borrower and its Subsidiaries
and (ii) natural persons; provided that such assignment shall be subject to Borrower’s consent (which shall not be
unreasonably withheld) at all times other than during the existence of an Event of Default arising under Section 8.01(a), Section
8.01(b) or Section 8.01(i) and the consent of Administrative Agent and Issuing Lenders (which consents shall not be unreasonably
withheld); provided that the consent of Borrower shall not be required with respect to an assignment to another Lender unless
such assignment, would result in the Revolving Commitment of such assignee and its Affiliates exceeding 15% of the aggregate Revolving
Commitments, as applicable, then outstanding. No such assignment shall become effective unless and until a copy of a duly signed
and completed Assignment and Assumption shall be delivered to Administrative Agent. Except in the case of an assignment (A) to
another Lender or (B) of the entire remaining Revolving Commitment of the assigning Lender, such assignment shall be in an aggregate
principal amount not less than the Minimum Amount therefor without the consent of Borrower and Administrative Agent. The effective
date of any assignment shall be as specified in the Assignment and Assumption, but not earlier than the date which is five Business
Days after the date Administrative Agent has received the Assignment and Assumption. Upon obtaining any consent required as set
forth this paragraph, any forms required by Section 10.20 and payment of the requisite fee described below, the assignee named
therein shall be a Lender for all purposes of this Agreement to the extent of the Assigned Interest (as defined in such Assignment
and Assumption), and, except for rights and obligations which by their terms survive termination of any Revolving Commitments,
the assigning Lender shall be released

 

 

 

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from any further obligations under this Agreement to
the extent of such Assigned Interest. Upon request, Borrower shall execute and deliver new or replacement Notes to the assigning
Lender and the assignee Lender to evidence Loans made by them. Administrative Agent’s consent to any assignment shall not
be deemed to constitute any representation or warranty by any Administrative Agent-Related Person as to any matter. Administrative
Agent shall record the information contained in the Assignment and Assumption in the Register.

 

(c) 
After receipt of a completed Assignment and Assumption, and receipt of an assignment fee of $3,500 from such assignee and/or
such assigning Lender (including in the case of assignments to Affiliates of assigning Lenders), Administrative Agent shall promptly
accept such Assignment and Assumption and record the information contained therein in the Register on the effective date determined
pursuant thereto.

 

(d) 
Each Lender may from time to time, without the consent of any other Person, grant participations to one or more other Persons
that are Eligible Assignees (including another Lender but excluding (x) Borrower and its Subsidiaries and (y) natural persons)
in all or any portion of its Loans, Revolving Commitments, Extensions of Credit or any other interest of such Lender hereunder
and under the other Loan Documents; provided, however, 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, (iii) the participating bank or other financial institution shall not be a Lender hereunder for any purpose except,
if the participation agreement so provides, for the purposes of the increased cost provisions (including yield protection and taxes)
of Section 3 (but only to the extent that the cost of such benefits to Borrower does not exceed the cost which Borrower would have
incurred in respect of such Lender absent the participation) and for purposes of Section 10.06, (iv) Borrower, Administrative Agent
and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights
and obligations under this Agreement, and (v) the consent of the holder of such participation interest shall not be required for
amendments or waivers of provisions of the Loan Documents; provided, however, that the assigning Lender may, in any
agreement with a participant, give such participant the right to consent (as between the assigning Lender and such participant)
to any matter which (A) extends the Revolving Termination Date as to such participant or any other date upon which any payment
of money is due to such participant, (B) reduces the rate of interest owing to such participant or any fee or any other monetary
amount owing to such participant, or (C) reduces the amount of any scheduled payment of principal owing to such participant. Any
Lender that sells a participation to any Person that is a “foreign corporation, partnership or trust” within the meaning
of the Code shall include in its participation agreement with such Person a covenant by such Person that such Person will comply
with the provisions of Section 10.20 as if such Person were a Lender and provide that Administrative Agent and Borrower shall be
third party beneficiaries of such covenant. Each Lender that sells or grants a participation shall (a) withhold or deduct from
each payment to the holder of such participation the amount of any tax required under applicable law to be withheld or deducted
from such payment and not withheld or deducted therefrom by Borrower or Administrative Agent, (b) pay the tax so withheld or deducted
by it to the appropriate taxing authority in accordance with applicable law and (c) indemnify Borrower and Administrative Agent
for any losses, cost and expenses that they may incur as a result of any failure to so withhold or deduct and pay such tax.

 

Each Lender that sells a participation
shall, acting solely for this purpose as a non-fiduciary agent of Borrower, maintain a register on which it enters the name and
address of each participant and the principal amounts (and stated interest) of each participant’s interest in the Loans or
other obligations under the Loan Documents (the “Participant Register”); provided that no Lender shall have
any obligation to disclose all or any portion of the Participant Register (including the identity of any participant or any information
relating to a participant’s interest in any Revolving Commitments, Extensions of Credit or its other obligations under any
Loan Document) to any Person except to the

 

 

 

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extent that such disclosure is necessary to establish
that such Revolving Commitments, Extensions 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, Administrative Agent (in its capacity
as Administrative Agent) shall have no responsibility for maintaining a Participant Register.

 

Notwithstanding anything to the contrary
in this Section 10.04, no assignment or participation shall be permitted during the Certain Funds Period without the written consent
of Borrower (in its sole discretion) and any such attempted assignment or participation without such written consent of Borrower
shall be null and void.

 

10.05 Set-off. Without prejudice
to and subject to Section 4.05, in addition to any rights and remedies of Administrative Agent and Lenders or any assignee of any
Lender or any Affiliate thereof (each, a “Proceeding Party”) provided by law, upon the occurrence and during the continuance
of any Event of Default, each Proceeding Party is authorized at any time and from time to time, without prior notice to Borrower,
any such notice being waived by Borrower to the fullest extent permitted by law, to proceed directly, by right of set-off, banker’s
lien or otherwise, against any assets of Borrower which may be in the hands of such Proceeding Party (including all general or
special, time or demand, provisional or other deposits and other indebtedness owing by such Proceeding Party to or for the credit
or the account of Borrower) and apply such assets against the Obligations then due and payable, irrespective of whether such Proceeding
Party shall have made any demand therefor. Each Lender agrees promptly to notify Borrower and Administrative Agent after any such
set-off and application made by such Lender; provided, however, that the failure to give such notice shall not affect
the validity of such set-off and application.

 

10.06 Sharing of Payments.
Each Lender severally agrees that if it, through the exercise of any right of setoff, banker’s lien or counterclaim against
Borrower or otherwise, receives payment of the Obligations held by it that is ratably more than any other Lender receives in payment
of the Obligations held by such other Lender, then, subject to applicable Laws, (a) such Lender exercising the right of setoff,
banker’s lien or counterclaim or otherwise receiving such payment shall purchase, and shall be deemed to have simultaneously
purchased, from the other Lender a participation in the Obligations held by the other Lender and shall pay to the other Lender
a purchase price in an amount so that the share of the Obligations held by each Lender after the exercise of the right of setoff,
banker’s lien or counterclaim or receipt of payment shall be in the same proportion that existed prior to the exercise of
the right of setoff, banker’s lien or counterclaim or receipt of payment; and (b) such other adjustments and purchases of
participations shall be made from time to time as shall be equitable to ensure that all Lenders share any payment obtained in respect
of the Obligations ratably in accordance with each Lender’s share of the Obligations immediately prior to, and without taking
into account, the payment; provided that, (i) if all or any portion of a disproportionate payment obtained as a result of
the exercise of the right of setoff, banker’s lien, counterclaim or otherwise is thereafter recovered from the purchasing
Lender by Borrower or any Person claiming through or succeeding to the rights of Borrower, the purchase of a participation shall
be rescinded and the purchase price thereof shall be restored to the extent of the recovery, but without interest and (ii) this
Section 10.06 shall not apply to any payments made in accordance with the express provisions of this Agreement or the other Loan
Documents. Each Lender that purchases a participation in the Obligations pursuant to this Section shall from and after the purchase
have the right to give all notices, requests, demands, directions and other communications under this Agreement with respect to
the portion of the Obligations purchased to the same extent as though the purchasing Lender were the original owner of the Obligations
purchased. Borrower expressly consents to the foregoing arrangements and agrees that

 

 

 

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any Lender holding a participation
in an Obligation so purchased may exercise any and all rights of setoff, banker’s lien or counterclaim with respect to the
participation as fully as if Lender were the original owner of the Obligation purchased.

 

10.07
No Waiver; Cumulative Remedies.

 

(a) 
No failure by any Lender or Administrative Agent to exercise, and no delay by any Lender or Administrative Agent in exercising,
any right, remedy, power or privilege hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of
any right, remedy, power or privilege under any Loan Document preclude any other or further exercise thereof or the exercise of
any other right, remedy, power or privilege.

 

(b) 
The rights, remedies, powers and privileges herein or therein provided are cumulative and not exclusive of any rights, remedies,
powers and privileges provided by Law. Any decision by Administrative Agent or any Lender not to require payment of any interest
(including interest at the Default Rate), fee, cost or other amount payable under any Loan Document or to calculate any amount
payable by a particular method on any occasion shall in no way limit or be deemed a waiver of Administrative Agent’s or such
Lender’s right to require full payment thereof, or to calculate an amount payable by another method that is not inconsistent
with this Agreement, on any other or subsequent occasion.

 

(c) 
Except with respect to Section 9.09, the terms and conditions of Section 9 are for the sole benefit of the Agents and Lenders.

 

10.08    
Usury. 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 Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excessive
interest shall be applied to the principal of the Outstanding Revolving Obligations or, if it exceeds the unpaid principal, refunded
to Borrower. In determining whether the interest contracted for, charged or received by Administrative Agent or any 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.

 

10.09 Counterparts. This Agreement
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 of an executed counterpart of a signature page of this Agreement by telecopy, emailed pdf.
or any other electronic means that reproduces an image of the actual executed signature page shall be effective as delivery of
an original executed counterpart of this Agreement.

 

10.10  Integration. This
Agreement, together with the other Loan Documents and any letter agreements referred to herein, comprises the complete and integrated
agreement of the parties regarding the subject matter hereof and supersedes all prior agreements, written or oral, on the subject
matter hereof. In the event of any conflict between the provisions of this Agreement and those of any other Loan Document, the
provisions of this Agreement shall control and govern; provided that the inclusion of supplemental rights or remedies in
favor of Administrative Agent or Lenders in any other Loan Document shall not be deemed a conflict with this Agreement. Each Loan
Document was drafted with the joint participation of the respective parties thereto and shall be construed neither against nor
in favor of any party, but rather in accordance with the fair meaning thereof. THE LOAN DOCUMENTS

 

 

 

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REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES THERETO
AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS BY SUCH PARTIES. THERE ARE NO
UNWRITTEN ORAL AGREEMENTS BETWEEN SUCH PARTIES.

 

10.11 
Nature of Lenders’ Obligations. Nothing contained in this Agreement or any other Loan Document and no action
taken by Administrative Agent or Lenders or any of them pursuant hereto or thereto may, or may be deemed to, make Lenders a partnership,
an association, a joint venture or other entity, either among themselves or with Borrower or any Subsidiary or Affiliate of Borrower.
Each Lender’s obligation to make any Extension of Credit pursuant hereto is several and not joint or joint and several. A
default by any Lender will not increase the Revolving Commitments attributable to any other Lender.

 

10.12 
Survival of Representations and Warranties. All representations and warranties made hereunder and in any other Loan
Document shall survive the execution and delivery thereof. Such representations and warranties have been or will be relied upon
by Administrative Agent and each Lender, notwithstanding any investigation made by Administrative Agent or any Lender or on their
behalf.

 

10.13  Indemnity by Borrower. Whether
or not the transactions contemplated hereby are consummated, Borrower agrees to indemnify, save and hold harmless each Administrative
Agent-Related Person, each other Agent, each Person identified on the cover page of this Agreement as a Joint Lead Arranger and
Joint Bookrunner, each Issuing Lender and each Lender and their respective Affiliates and their and their Affiliates’ respective
directors, officers, agents, attorneys and employees (collectively the “Indemnitees”) from and against: (i) any and
all claims, demands, actions or causes of action that are asserted against any Indemnitee by any Person relating directly or indirectly
to a claim, demand, action or cause of action that such Person asserts or may assert against Borrower, any of its Affiliates or
any of its officers or directors; (ii) any and all claims, demands, actions or causes of action arising out of or relating to the
Loan Documents, the Revolving Commitments, the use or contemplated use of the proceeds of any Extension of Credit, or the relationship
of Borrower, Administrative Agent and Lenders under this Agreement; (iii) any administrative or investigative proceeding by any
Governmental Authority arising out of or related to a claim, demand, action or cause of action described in clauses (i) or (ii)
above; and (iv) any and all liabilities (including liabilities under indemnities), losses, costs or expenses (including Attorney
Costs (limited to one law firm for Lenders unless Lenders have differing interests or defenses that preclude the engagement of
one law firm to represent Lenders)), that any Indemnitee suffers or incurs as a result of the assertion of any foregoing claim,
demand, action, cause of action or proceeding, or as a result of the preparation of any defense in connection with any foregoing
claim, demand, action, cause of action or proceeding, in all cases, including settlement costs incurred with the prior written
consent of Borrower (which consent shall not be unreasonably withheld), whether or not arising out of the negligence of an Indemnitee,
and whether or not an Indemnitee is a party to such claim, demand, action, cause of action or proceeding (all the foregoing, collectively,
the “Indemnified Liabilities”); provided that no Indemnitee shall be entitled to indemnification for any Indemnified
Liability to the extent (i) it is found by a final, non-appealable judgment of a court of competent jurisdiction to arise from
(x) the bad faith, willful misconduct or gross negligence of such Indemnitee or (y) a material breach by such Indemnitee of its
express obligations under this Agreement; or (ii) not resulting from an act or omission of Borrower or any of its Affiliates in
respect of a claim, litigation, investigation or proceeding by one Lender against another Lender (in each case, for the avoidance
of doubt, excluding each of the Agents and each Person identified on the cover page of this Agreement as a Joint Lead Arranger
and Joint Bookrunner in each case in its capacity as such). In no event shall any Indemnitee be liable for any damages arising
from the use by unauthorized Persons of information or other materials sent through electronic,

 

 

 

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telecommunications or other information transmission
systems that are intercepted by such Persons except to the extent it is found by a final, non-appealable judgment of a court of
competent jurisdiction to arise from the bad faith, willful misconduct or gross negligence of such Indemnitee. This Section 10.13
shall not apply with respect to taxes other than any taxes that represent losses, claims, damages, etc. arising from any non-tax
claim. The agreements in this Section shall survive repayment of all Obligations.

 

10.14
Nonliability of Lenders. Borrower acknowledges and agrees that:

 

(a) 
Any inspections of any property of Borrower made by or through Administrative Agent or Lenders are for purposes of administration
of the Loan Documents only, and Borrower is not entitled to rely upon the same (whether or not such inspections are at the expense
of Borrower);

 

(b) 
By accepting or approving anything required to be observed, performed, fulfilled or given to Administrative Agent or Lenders
pursuant to the Loan Documents, neither Administrative Agent nor Lenders shall be deemed to have warranted or represented the sufficiency,
legality, effectiveness or legal effect of the same, or of any term, provision or condition thereof, and such acceptance or approval
thereof shall not constitute a warranty or representation to anyone with respect thereto by Administrative Agent or Lenders;

 

(c) 
The relationship between Borrower and Administrative Agent and Lenders is, and shall at all times remain, solely that of
borrower and lenders; neither Administrative Agent nor any Lender undertakes or assumes any responsibility or duty to Borrower
or its Affiliates to select, review, inspect, supervise, pass judgment upon or inform Borrower or its Affiliates of any matter
in connection with their property or the operations of Borrower or its Affiliates; Borrower and its Affiliates shall rely entirely
upon their own judgment with respect to such matters; and any review, inspection, supervision, exercise of judgment or supply of
information undertaken or assumed by Administrative Agent or any Lender in connection with such matters is solely for the protection
of Administrative Agent and Lenders and neither Borrower nor any other Person is entitled to rely thereon;

 

(d) 
Neither Administrative Agent nor any Lender nor any Person identified on the cover page of this Agreement as a Joint Lead
Arranger and Joint Bookrunner, Syndication Agent or Co-Documentation Agent shall be deemed to be in an advisory, fiduciary or agency
relationship with Borrower and its Affiliates or have a fiduciary or other implied duty to Borrower and its Affiliates with respect
to this Agreement and the transactions contemplated hereby;

 

(e) 
Administrative Agent and Lenders, and their Affiliates, may have economic interests that conflict with those of Borrower
and its Affiliates; and

 

(f) 
Neither Administrative Agent nor any Lender shall be responsible or liable to any Person for any loss, damage, liability
or claim of any kind relating to injury or death to Persons or damage to property caused by the actions, inaction or negligence
of Borrower and/or its Affiliates and Borrower hereby indemnifies and holds Administrative Agent and Lenders harmless from any
such loss, damage, liability or claim.

 

10.15 
No Third Parties Benefitted. This Agreement is made for the purpose of defining and setting forth certain obligations,
rights and duties of Borrower, Administrative Agent and Lenders in connection with the Extensions of Credit, and is made for the
sole benefit of Borrower, Administrative Agent and Lenders, Administrative Agent’s and Lenders’ successors and permitted

 

 

 

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assigns. Except as provided in Section 10.04, no other
Person shall have any rights of any nature hereunder or by reason hereof.

 

10.16 
Severability. Any provision of the Loan Documents that is prohibited or unenforceable in any jurisdiction shall,
as to such jurisdiction, be ineffective and severable to the extent of such prohibition or unenforceability without invalidating
the remaining provisions thereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. Administrative Agent, Lenders and Borrower agree to negotiate, in good
faith, the terms of a replacement provision as similar to the severed provision as may be possible and be legal, valid, and enforceable.

 

10.17 
Confidentiality. Administrative Agent and each Lender shall use any confidential non-public information concerning
Borrower and its Subsidiaries and Affiliates that is furnished to Administrative Agent or such Lender by or on behalf of Borrower
and its Subsidiaries in connection with the Loan Documents or the Existing Credit Agreement (collectively, “Confidential
Information”) solely for the purpose of administering and enforcing the Loan Documents, and it will hold the Confidential
Information in confidence and will not disclose, directly or indirectly, such information to any Person, except (a) to their affiliates
or any of their or their affiliates’ directors, officers, employees, auditors, counsel, advisors, or representatives (collectively,
the “Representatives”) who need to know such information for the purposes set forth in this Section and who have been
advised of and acknowledge their obligation to keep such information confidential and limit the use of such information in accordance
with this Section, (b) to any Eligible Assignee to which such Lender has assigned or desires to assign an interest or participation
in the Loan Documents or the Obligations or to any direct or indirect contractual counterparties (or the professional advisors
thereto) to any swap or derivative transaction relating to Borrower and its obligations, provided that any such foregoing recipient
of such Confidential Information agrees to keep such Confidential Information confidential and limit the use of such Confidential
Information as specified herein, (c) to any governmental agency or regulatory body (including self-regulatory bodies) having or
claiming to have authority to regulate or oversee any aspect of Administrative Agent’s or such Lender’s business or
that of their Representatives in connection with the exercise of such authority or claimed authority (in which case such Lender
shall, except with respect to any audit or examination conducted by bank accountants or any governmental bank regulatory authority
exercising examination or regulatory authority, use reasonable efforts to promptly notify Borrower, in advance, to the extent lawfully
permitted to do so), (d) to the extent necessary or appropriate to enforce any right or remedy or in connection with any claims
asserted by or against Administrative Agent or such Lender or any of their Representatives, (e) pursuant to any subpoena or any
similar legal process (in which case such Lender shall use reasonable efforts to promptly notify Borrower, in advance, to the extent
permitted by Law), (f) to other Lenders and (g) with the consent of Borrower. For purposes hereof, the term “Confidential
Information” shall not include information that (w) pertains to this Agreement (but not any other information concerning
Borrower) routinely provided by arrangers to data service providers, including league table providers, that serve the lending industry,
(x) is in Administrative Agent’s or a Lender’s possession prior to its being provided by or on behalf of Borrower or
any of its Subsidiaries or Affiliates, provided that such information is not known by Administrative Agent or such Lender to be
subject to another confidentiality agreement with, or other legal or contractual obligation of confidentiality to, Borrower or
any of its Subsidiaries or Affiliates, (y) is or becomes publicly available (other than through a breach hereof by Administrative
Agent or such Lender), or (z) becomes available to Administrative Agent or such Lender on a nonconfidential basis, provided that
the source of such information was not known by Administrative Agent or such Lender to be bound by a confidentiality agreement
or other legal or contractual obligation of confidentiality with respect to such information.

 

 

 

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10.18 
Headings. Section headings in this Agreement and the other Loan Documents are included for convenience of reference
only and are not part of this Agreement or the other Loan Documents for any other purpose.

 

10.19
Time of the Essence. Time is of the essence of the Loan Documents.

 

10.20 
Status of Lenders and Administrative Agent. (a) (i) Each Lender that is a U.S. Person shall deliver to Borrower
and Administrative Agent on or prior to the date on which such Lender becomes a party to this Agreement, and from time to time
thereafter if requested in writing by Borrower or Administrative Agent, executed originals of IRS Form W-9, or any successor form
prescribed by the IRS, certifying that such Lender is exempt from U.S. federal backup withholding tax; (ii) 
Each Lender organized under the Laws of a jurisdiction outside the United States, on or prior to the date of this Agreement
in the case of each Lender listed on the signature pages hereof and on or prior to the date on which it becomes a Lender in the
case of each other Lender, and from time to time thereafter if requested in writing by Borrower or Administrative Agent, shall
provide Borrower and Administrative Agent (but only so long as such Lender remains lawfully able to do so) with (x) IRS Form W-8BEN
or W-8BEN-E, as appropriate, or any successor form prescribed by the IRS, certifying that such Lender is entitled to benefits
under an income tax treaty to which the United States is a party which reduces the rate of withholding tax on payments of interest,
IRS Form W-8ECI, or any successor form prescribed by the IRS, certifying that the income receivable pursuant to the Loan Documents
is effectively connected with the conduct of a trade or business in the United States, or IRS Form W-8EXP, or any successor form
prescribed by the IRS, (y) if such Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code and
intends to claim an exemption from United States withholding tax under Section 871(h) or 881(c) of the Code with respect to payments
of “portfolio interest,” IRS Form W-8BEN or W-8BEN-E, as applicable, or any successor form prescribed by the IRS,
and a certificate substantially in the form of Exhibit F-1 representing that such Lender is not a bank for purposes of Section
881(c) of the Code, is not a ten-percent shareholder (within the meaning of Section 871(h)(3)(B) of the Code) of Borrower, and
is not a “controlled foreign corporation” described in Section 881(c)(3)(C) (a “U.S. Tax Compliance Certificate”)
or (z) to the extent such Lender is not the beneficial owner, executed originals of IRS Form W-8IMY, or any successor form prescribed
by the IRS, accompanied by IRS Form W-8ECI, W-8BEN or W-8BEN-E, as applicable, a U.S. Tax Compliance Certificate substantially
in the form of Exhibit F-2 or Exhibit F-3, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable;
provided that if the Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the
portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit
F-4 on behalf of each such direct and indirect partner. Thereafter and from time to time, each such Person shall (i) promptly
submit to Administrative Agent such additional duly completed and signed copies of one of such forms (or such successor forms
as shall be adopted from time to time by the relevant United States taxing authorities) as may then be available under then current
United States laws and regulations to avoid, or such evidence as is satisfactory to Borrower and Administrative Agent of any available
exemption from or reduction of, United States withholding taxes in respect of all payments to be made to such Person by Borrower
pursuant to this Agreement, (ii) promptly notify Administrative Agent of any change in circumstances which would modify or render
invalid any claimed exemption or reduction and (iii) take such steps as shall not be materially disadvantageous to it, in the
reasonable judgment of such Lender, and as may be reasonably necessary (including the re-designation of its Lending Office) to
avoid any requirement of applicable Laws that Borrower make any deduction or withholding for taxes from amounts payable to such
Person. If such Person fails to deliver the above forms or other documentation, then Administrative Agent may withhold from any
interest payment to such Person an amount equivalent to the applicable withholding tax imposed by Sections 1441 and 1442 of the
Code, without reduction. If any Governmental Authority asserts that Administrative Agent did not properly withhold any tax or

 

 

 

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other amount from payments made in respect of such Person,
such Person shall indemnify Administrative Agent therefor, including all penalties and interest, any taxes imposed by any jurisdiction
on the amounts payable to Administrative Agent under this Section, and costs and expenses (including Attorney Costs) of Administrative
Agent. The obligation of Lenders under this Section shall survive the payment of all Obligations and the resignation of Administrative
Agent.

 

(b) 
If a payment made to a Lender under any Loan Document would be subject to withholding tax imposed by FATCA if such Lender
were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b)
of the Code, as applicable), such Lender shall deliver to Borrower and Administrative Agent at the time or times prescribed by
law and at such time or times reasonably requested by Borrower or 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
Borrower or Administrative Agent as may be necessary for Borrower and Administrative Agent to comply with their obligations under
FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount
to deduct and withhold from such payment. Solely for purposes of this Subsection 10.20(b), “FATCA” shall include any
amendments made to FATCA after the date of this Agreement. Each Lender agrees that if any form or certification it previously delivered
expires or becomes obsolete or inaccurate in any respect, it shall promptly update and deliver such form or certification to Borrower
and Administrative Agent or promptly notify Borrower and Administrative Agent in writing of its legal ineligibility to do so.

 

(c) 
Administrative Agent shall deliver to Borrower two executed copies of IRS Form W-9. Administrative Agent agrees that if
any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such
form or certification.

 

10.21
Removal and Replacement of Lenders.

 

(a) In the event that any Lender
(i) requests compensation under Section 3.01 or 3.04, (ii)  becomes a Defaulting Lender
or (iii) (x) does not consent to any proposed amendment, supplement, modification, consent or waiver of any provision of this
Agreement or any other Loan Document that requires the consent of each of the Lenders or each of the Lenders (including, for the
avoidance of doubt, any extension permitted by Section 2.01(e) with the consent of each Lender) affected thereby or (y) does not
agree to make Loans in any proposed Alternative Currency (in the case of this clause (iii), so long as the consent of the Required
Lenders to such amendment, supplement, modification, consent, waiver or proposed Alternative Currency has been obtained), Borrower
may, upon notice to such Lender and Administrative Agent, remove or replace such Lender by (A) non-ratably terminating such Lender’s
Revolving Commitment and/or (B) causing such Lender to assign its rights and obligations under this Agreement pursuant to Section
10.04(b) to one or more other Lenders or eligible assignees procured by Borrower and otherwise reasonably acceptable to Administrative
Agent and Issuing Lenders; provided that such assigning Lender shall have received payment of an amount equal to 100% of the outstanding
principal, interest and fees owed to such Lender from the assignee Lender or Borrower or such lesser amount as may be agreed with
such Lender. Borrower shall, in the case of a termination of such Lender’s Revolving Commitment and prepayment of its Loans
pursuant to clause (A) preceding, (x) pay in full all principal, interest, fees and other amounts owing to such Lender (other
than with respect to any outstanding Competitive Loan held by it) through the date of termination and prepayment (including any
amounts payable pursuant to Section 3), except as may otherwise be agreed with such Lender, (y) provide appropriate assurances
and indemnities (which may include letters of credit) to such Lender and the Issuing Lender as each may reasonably require with
respect to any continuing risk participation interest in any Letters of Credit then outstanding and (z) release such Lender from
its obligations under the Loan Documents from and after the date of termination. Borrower shall, in the case of an assignment

 

 

 

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pursuant to clause (B) preceding, cause to be paid the
assignment fee payable to Administrative Agent pursuant to Section 10.04(c). Any such Lender whose Revolving Commitment is being
assigned shall, upon payment of (i) all amounts owed to it pursuant to the proviso in clause (B) preceding and (ii) the assignment
fee as described in the preceding sentence, be deemed to have executed and delivered an Assignment and Assumption covering such
Lender’s Revolving Commitment. Administrative Agent shall distribute an amended Schedule 2.01, which shall be deemed incorporated
into this Agreement, to reflect adjustments to the Lenders and their Revolving Commitments.

 

(b) 
If fees cease to accrue on the unfunded portion of the Revolving Commitments of a Defaulting Lender pursuant to Section
2.14(a), such fees shall not be paid to the non-Defaulting Lenders (or replacement Lenders in respect of any fees accruing prior
to such replacement Lender becoming a Lender hereunder).

 

(c)
This Section shall supersede any provisions in Section 10.01 to the contrary.

 

		10.22	Governing Law; Submission to Jurisdiction; Waivers.

 

(a) 
THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

 

(b)
Each party to this Agreement irrevocably and unconditionally:

 

(i) 
submits for itself and its property in any legal action or proceeding relating to this Agreement and the other Loan Documents
to which it is a party to the exclusive general jurisdiction of the courts of the State of New York sitting in the Borough of Manhattan
in the City of New York, the courts of the United States for the Southern District of New York, and appellate courts from any thereof;

 

(ii) 
agrees that a final judgment in any such suit, action or proceeding brought in any such court may be enforced in any other
court to whose jurisdiction the applicable party is or may be subject, by suit upon judgment;

 

(iii) 
consents that any such action or proceeding may only be brought in such courts and waives any objection that it may now
or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought
in an inconvenient court and agrees not to plead or claim the same;

 

(iv) 
agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered
or certified mail (or any substantially similar form of mail), postage prepaid, to it at its address provided for in Section 10.02;

 

(v) 
agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law; and

 

(vi) 
waives, to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or proceeding
referred to in this Section 10.22 any special, exemplary, punitive or consequential damages; provided the waiver set forth in this
clause (vi) shall not affect any obligation of Borrower under Section 10.13.

 

10.23 Waiver of Right to Trial
by Jury. EACH PARTY TO THIS AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE
OF ACTION ARISING UNDER ANY LOAN DOCUMENT OR IN ANY

 

 

 

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WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS
OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO ANY LOAN DOCUMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER
NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS
THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS
AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES
HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.

 

10.24 USA PATRIOT Act. Each
Lender hereby notifies Borrower that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into
law October 26, 2001)) (the “PATRIOT Act”), it is required to obtain, verify and record information that identifies
Borrower and Guarantors, which information includes the name and address of Borrower and Guarantors and other information that
will allow such Lender to identify Borrower and Guarantors in accordance with the PATRIOT Act.

 

10.25 Judgment Currency.

 

(a) 
If for the purpose of obtaining judgment in any court it is necessary to convert a sum due hereunder in one currency into
another currency, the parties hereto agree, to the fullest extent that they may effectively do so, that the rate of exchange used
shall be that at which in accordance with normal banking procedures Administrative Agent could purchase the first currency with
such other currency in the city in which it normally conducts its foreign exchange operation for the first currency on the Business
Day preceding the day on which final judgment is given.

 

(b) 
The obligation of Borrower in respect of any sum due from it to any Lender or Agent hereunder shall, notwithstanding any
judgment in a currency (the “Judgment Currency”) other than that in which such sum is denominated in accordance with
the applicable provisions of this Agreement (the “Agreement Currency”), be discharged only to the extent that on the
Business Day following receipt by such Lender of any sum adjudged to be so due in the Judgment Currency such Lender may in accordance
with normal banking procedures purchase the Agreement Currency with the Judgment Currency; if the amount of Agreement Currency
so purchased is less than the sum originally due to such Lender in the Agreement Currency, Borrower agrees notwithstanding any
such judgment to indemnify such Lender against such loss, and if the amount of the Agreement Currency so purchased exceeds the
sum originally due to any Lender, such Lender agrees to remit to Borrower such excess.

 

10.26 
Acknowledgement and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary in
any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges
that any liability of any EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured,
may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges
and agrees to be bound by:

 

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

 

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

 

 

 

     87

     

    

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

 

(ii) 
a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial
Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such
shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under
this Agreement or any other Loan Document; or

 

(iii) 
the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of
any EEA Resolution Authority.

 

[REMAINDER OF PAGE INTENTIONALLY BLANK.]

 

 

 

     88

     

    

 

Schedule 2.01

 

Revolving Commitments as of the Amendment
No. 2 Effective Date

 

 

	Institution	Revolving
    Commitment
	JPMorgan
    Chase Bank, N.A. 	$486,000,000
    
	Citibank,
    N.A. 	$486,000,000
    
	Morgan
    Stanley Bank, N.A. 	$243,000,000
    
	MUFG
    Bank, Ltd. (f/k/a The Bank of Tokyo-Mitsubishi UFJ, Ltd.) 	$243,000,000
    
	Wells
    Fargo Bank, National Association 	$486,000,000
    
	Mizuho
    Bank, Ltd. 	$486,000,000
    
	Bank
    of America, N.A. 	$350,000,000486,000,000
    
	Barclays
    Bank PLC 	$350,000,000
    
	BNP
    Paribas 	$350,000,000
    
	Credit
    Suisse AG, Cayman Islands Branch 	$350,000,000
    
	Deutsche
    Bank AG, New York Branch 	$350,000,000
    
	Goldman
    Sachs Bank USA 	$350,000,000
	Royal
    Bank of Canada 	$350,000,000
    
	Sumitomo
    Mitsui Banking Corporation 	$350,000,000
    
	Toronto
    Dominion (Texas) LLC 	$350,000,000
    
	Commerzbank
    AG, New York Branch 	$225,000,000350,000,000
    
	Banco
    Santander, S.A., New York Branch	$350,000,000
    
	Goldman
    Sachs Bank USA 	$275,000,000
    
	DNB
    Capital LLC 	$225,000,000
    
	PNC
    Bank, National Association 	$225,000,000
    
	U.S.
    Bank National Association 	$225,000,000
    
	Industrial
    and Commercial Bank of China Ltd., New York Branch 	$125,000,000200,000,000
    
	Societe
    Generale 	$125,000,000
    
	The
    Bank of New York Mellon 	$125,000,000
    
	Bank
    of China, New York Branch 	$85,000,000
    
	Agricultural
    Bank of China Ltd., New York Branch 	$60,000,000
    
	Total

         
	$7,000,000,0007,611,000,000Exhibit 10.1

    

     

      

    PDS BIOTECHNOLOGY CORPORATION

    

    

    2019 INDUCEMENT PLAN

    

    

    SECTION 1. GENERAL PURPOSE OF THE PLAN; DEFINITIONS

    

    

    The name of the plan is the PDS Biotechnology Corporation 2019 Inducement Plan (the “Plan”). The purpose of the Plan is to provide non-qualified stock options to individuals not previously employees or Non-Employee Directors of PDS Biotechnology Company (the “Company”) (or following such individuals’ bona fide period of non-employment with the Company), as an inducement material to the individuals’ entry into employment with the Company within
      the meaning of Rule 5635(c)(4) of the NASDAQ Listing Rules. It is anticipated that providing such persons with a direct stake in the Company’s welfare will assure a closer identification of their interests with those of the Company and its
      stockholders, thereby stimulating their efforts on the Company’s behalf and strengthening their desire to remain with the Company.

    

    

    The following terms shall be defined as set forth below:

    

    

    “Act” means the Securities Act of
      1933, as amended, and the rules and regulations thereunder.

    

    

    “Administrator” means either the
      Board or the compensation committee of the Board or a similar committee performing the functions of the compensation committee and which is comprised of not less than two Non-Employee Directors who are independent.

    

    

    “Board” means the Board of
      Directors of the Company.

    

    

    “Change of Control” means, unless
      otherwise provided in an Option Award Agreement:

    

    

    (a) the acquisition in one or more transactions (whether by purchase, merger or otherwise) by any "Person" (as such term is used for
      purposes of Section 13(d) or Section 14(d) of the Exchange Act, but excluding, for this purpose, (i) the Company or its Subsidiaries, (ii) any employee benefit plan of the Company or its Subsidiaries, (iii) an entity owned, directly or indirectly, by
      the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company) of "Beneficial Ownership" (within the meaning of Rule 13d-3 under the Exchange Act) of more than fifty percent (50%) of the combined
      voting power of the Company's then outstanding voting securities (the "Voting Securities");

    

    

    (b) a change in the composition of the Board such that the individuals who as of any date constitute the Board (the "Incumbent Board")
      cease to constitute a majority of the Board at any time during the 24-month period immediately following such date; provided, however, that if the election, or nomination for election by the Company's shareholders, of any new director was approved by
      a vote of at least a majority of the Incumbent Board, such new director shall be considered as a member of the Incumbent Board, and provided further that any reductions in the size of the Board that are instituted voluntarily by the Incumbent Board
      shall not constitute a Change of Control, and after any such reduction the "Incumbent Board" shall mean the Board as so reduced;

    

    

    (c) a complete liquidation or dissolution of the Company; or

    

    

    (d) the sale of all or substantially all of the Company's and its Subsidiaries' assets (determined on a consolidated basis), other than
      to a Person terminated for “Cause” as defined in the Option Award Agreement.

    

    

    “Code” means the Internal Revenue
      Code of 1986, as amended, and any successor Code, and related rules, regulations and interpretations.

    

    

     “Effective Date” means June 17,
      2019.

    

    

    “Eligible Individual” means any
      individual who was not previously an employee or a Non-Employee Director of the Company or any of its Subsidiaries (or who has had a bona fide period of non-employment with the Company and its Subsidiaries) who is hired by the Company or one of its
      Subsidiaries.

     

    

    
      1

      
        

    

    “Exchange Act” means the
      Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder.

    

    

    “Fair Market Value” of the Stock
      means, on any given date (i) if the shares of Common Stock are then listed on a national securities exchange, including the Nasdaq Global Select Market ("NASDAQ"), the closing sales price per share of Common Stock on the exchange for such date, or if
      no sale was made on such date on the exchange, on the last preceding day on which a sale occurred; (ii) if shares of Common Stock are not then listed on a national securities exchange but are then quoted on another stock quotation system, the closing
      price for the shares of Common Stock as quoted on such quotation system on such date, or if no sale was made on such date on such quotation system, on the last preceding day on which a sale was made; or (iii) if (i) and (ii) do not apply, such value
      as the Committee in its discretion may in good faith determine in accordance with Section 409A of the Code and the regulations thereunder (and, with respect to Incentive Stock Options, in accordance with Section 422 of the Code and the regulations
      thereunder.

    

    

    “Non-Employee Director” means a
      member of the Board who is not also an employee of the Company or any Subsidiary.

    

    

    “Non-Qualified Stock Option”
      means a stock option that is not intended to be, or does not satisfy all requirements to be, an “incentive stock option” under Section 422 of the Code.

    

    

    “Option Award Agreement” means a
      written or electronic document setting forth the terms and provisions applicable to a Non-Qualified Stock Option granted under the Plan. Each Option Award Agreement is subject to the terms and conditions of the Plan.

    

    

     “Section 409A” means Section
      409A of the Code and the regulations and other guidance promulgated thereunder.

    

    

    “Stock” means the common stock of the Company, par value $0.00033 per share, subject to adjustments pursuant to Section 3.

    

    

    “Subsidiary” means any
      corporation or other entity (other than the Company) in which the Company has at least a 50 percent interest, either directly or indirectly.

     

    

    SECTION 2. ADMINISTRATION OF PLAN; ADMINISTRATOR AUTHORITY TO

    SELECT GRANTEES AND DETERMINE NON-QUALIFIED STOCK OPTIONS

    

    

    (a) Administration of Plan. The Plan shall be
      administered by the Administrator.

    

    

    (b) Powers of Administrator. The
      Administrator shall have the power and authority to grant Non-Qualified Stock Options consistent with the terms of the Plan, including the power and authority:

    

    

    (i) to select the individuals to whom Non-Qualified Stock Options may from time to time be granted;

    

    

    (ii) to determine the time or times of grant;

    

    

    (iii) to determine the number of shares of Stock to be covered by Non-Qualified Stock Options;

    

    

    (iv) to determine and modify from time to time the terms and conditions, including restrictions, not inconsistent with the terms of the
      Plan, of Non-Qualified Stock Options, which terms and conditions may differ among individual Non-Qualified Stock Options and grantees, and to approve the form of Option Award Agreements;

    

    

    (v) to determine the exercise price shares of Stock to be covered by Non-Qualified Stock Options;

     

    

    (vi) to accelerate at any time the exercisability or vesting of all or any portion of Non-Qualified Stock Options;

     

    

    (vii) subject to the provisions of Section 5(b), to extend at any time the period in which a Non-Qualified Stock Option may be
      exercised; and

     

    

    
      2

      
        

    

    (viii) at any time to adopt, alter and repeal such rules, guidelines and practices for administration of the Plan and for its own acts
      and proceedings as it shall deem advisable; to interpret the terms and provisions of the Plan and any Non-Qualified Stock Option (including related written instruments); to make all determinations it deems advisable for the administration of the
      Plan; to decide all disputes arising in connection with the Plan; and to otherwise supervise the administration of the Plan.   Provided, however, that the Administrator shall be prohibited from effecting a repricing of any outstanding Non-Qualified
      Stock Options without shareholder approval

    

    

    All decisions and interpretations of the Administrator shall be binding on all persons, including the Company, its Subsidiaries, Plan
      grantees, and persons claiming rights from or through Plan grantees and shareholders of the Company.

     

    

    (c) Option Award Agreement. Non-Qualified
      Stock Options under the Plan shall be evidenced by Option Award Agreements that set forth the terms, conditions and limitations for each Option which may include, without limitation, the term of a Non-Qualified Stock Option and the provisions
      applicable in the event employment or service terminates.

    

    

    (d) Indemnification. Neither the Board nor
      the Administrator, nor any member of either or any delegate thereof, shall be liable for any act, omission, interpretation, construction or determination made in good faith in connection with the Plan, and the members of the Board and the
      Administrator (and any delegate thereof) shall be entitled in all cases to indemnification and reimbursement by the Company in respect of any claim, loss, damage or expense (including, without limitation, reasonable attorneys’ fees) arising or
      resulting therefrom to the fullest extent permitted by law and/or under the Company’s articles or bylaws or any directors’ and officers’ liability insurance coverage which may be in effect from time to time and/or any indemnification agreement
      between such individual and the Company.

    

    

    SECTION 3. STOCK ISSUABLE UNDER THE PLAN; MERGERS;
          SUBSTITUTION

    

    

    (a) Stock Issuable. The maximum number of
      shares of Stock reserved and available for issuance under the Plan shall be 200,000 shares (the “Initial Limit”), subject to adjustment as provided in Section
      3(b). For purposes of this limitation, the shares of Stock underlying any Non-Qualified Stock Options that are forfeited, canceled, held back upon exercise of a Non-Qualified Stock Option or settlement of a Non-Qualified Stock Option to cover the
      exercise price or tax withholding, reacquired by the Company prior to vesting, satisfied without the issuance of Stock or otherwise terminated (other than by exercise) shall be added back to the shares of Stock available for issuance under the Plan.
      In the event the Company repurchases shares of Stock on the open market, such shares shall not be added to the shares of Stock available for issuance under the Plan. The shares available for issuance under the Plan may be authorized but unissued
      shares of Stock or shares of Stock reacquired by the Company.

     

    

    (b) Changes in Stock. Subject to Section 3(c)
      hereof, if, as a result of any reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split or other similar change in the Company’s capital stock, the outstanding shares of Stock are increased or decreased or
      are exchanged for a different number or kind of shares or other securities of the Company, or additional shares or new or different shares or other securities of the Company or other non-cash assets are distributed with respect to such shares of
      Stock or other securities, or, if, as a result of any merger or consolidation, sale of all or substantially all of the assets of the Company, the outstanding shares of Stock are converted into or exchanged for securities of the Company or any
      successor entity (or a parent or subsidiary thereof), the Administrator shall make an appropriate or proportionate adjustment in (i) the maximum number of shares reserved for issuance under the Plan, (ii) the number and kind of shares or other
      securities subject to any then outstanding Non-Qualified Stock Options under the Plan, and (iii) the exercise price for each share subject to any then outstanding Non-Qualified Stock Options, without changing the aggregate exercise price (i.e., the
      exercise price multiplied by the number of Non-Qualified Stock Options) as to which such Non-Qualified Stock Options remain exercisable. The Administrator shall also make equitable or proportionate adjustments in the number of shares subject to
      outstanding Non-Qualified Stock Options and the exercise price and the terms of outstanding Non-Qualified Stock Options to take into consideration cash dividends paid other than in the ordinary course or any other extraordinary corporate event. The
      adjustment by the Administrator shall be final, binding and conclusive. No fractional shares of Stock shall be issued under the Plan resulting from any such adjustment, but the Administrator in its discretion may make a cash payment in lieu of
      fractional shares.

     

    

    
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    (c) Mergers and Other Transactions. Except as
      the Administrator may otherwise specify with respect to particular Non-Qualified Stock Options in the relevant Option Award Agreement, upon the occurrence of a Change in Control, the Administrator, in its discretion, may take one or more of the
      following actions with respect to Non-Qualified Stock Options that are outstanding as of such Change in Control: (a) cancel any outstanding Non-Qualified Stock Options in exchange for a cash payment in an amount equal to the excess, if any, of the
      Fair Market Value of the Stock underlying the unexercised portion of the Non-Qualified Stock Option as of the date of the Change in Control over the exercise price or grant price, as the case may be, of such portion, provided that any Non-Qualified
      Stock Option with an exercise price or grant price, as the case may be, that equals or exceeds the Fair Market Value of the Stock on the date of such Change in Control shall be cancelled with no payment due the Plan grantee; (b) terminate any
      Non-Qualified Stock Option, effectively immediately prior to the Change in Control, provided that the Company provides the Plan grantee an opportunity to exercise such Non-Qualified Stock Option within a specified period following the Plan grantee's
      receipt of a written notice of such Change in Control and the Company's intention to terminate such Non-Qualified Stock Options, effective immediately prior to such Change in Control; (c) require the successor or acquiring company (or its parents or
      subsidiaries), following a Change in Control, to assume any outstanding Non-Qualified Stock Option and to substitute such Non-Qualified Stock Option with awards involving the common equity securities of such company on terms and conditions necessary
      to preserve the rights of Plan grantees with respect to such Non-Qualified Stock Options or (e) take such other actions as the Committee believes may be appropriate.

     

    

     (d) Substitute Non-Qualified Stock Options.
      The Administrator may grant Non-Qualified Stock Options under the Plan in substitution for stock and stock based awards held by employees, directors or other key persons of another corporation in connection with the merger or consolidation of the
      employing corporation with the Company or a Subsidiary or the acquisition by the Company or a Subsidiary of property or stock of the employing corporation. The Administrator may direct that the substitute awards be granted on such terms and
      conditions as the Administrator considers appropriate in the circumstances. Any substitute Non-Qualified Stock Options granted under the Plan shall not count against the share limitation set forth in Section 3(a).

    

    

    SECTION 4. ELIGIBILITY

    

    

    Grantees under the Plan will be such Eligible Individuals as are selected from time to time by the Administrator in its sole discretion.

    

    

    SECTION 5. NON-QUALIFIED STOCK OPTIONS

    

    

    Any Non-Qualified Stock Option granted under the Plan shall be in such form as the Administrator may from time to time approve.

    

    

    Non-Qualified Stock Options granted pursuant to this Plan shall be subject to the following terms and conditions and shall contain such
      additional terms and conditions, not inconsistent with the terms of the Plan, as the Administrator shall deem desirable.

    

    

    (a) Exercise Price. The exercise price per
      share for the Stock covered by a Non-Qualified Stock Option shall be determined by the Administrator at the time of grant but shall not be less than 100 percent of the Fair Market Value on the date of grant.

    

    

    (b) Option Term. The term of each
      Non-Qualified Stock Options shall be fixed by the Administrator, but no Stock Option shall be exercisable more than ten years after the date the Stock Option is granted.

    

    

    (c) Exercisability; Rights of a Stockholder.
      Non-Qualified Stock Options shall become exercisable at such time or times, whether or not in installments, as shall be determined by the Administrator at or after the grant date. The Administrator may at any time accelerate the exercisability of all
      or any portion of any Non-Qualified Stock Option. A grantee shall have the rights of a stockholder only as to shares acquired upon the exercise of a Non-Qualified Stock Option and not as to unexercised Non-Qualified Stock Options.

     

    

    
      4

      
        

    

    (d) Method of Exercise. Each Option Award
      Agreement with respect to a Non-Qualified Stock Option shall specify the time or times at which an Non-Qualified Stock Option may be exercised in whole or in part and the terms and conditions applicable thereto, including (i) a vesting schedule (ii)
      whether the exercise price for a Non-Qualified Stock Option shall be paid in cash, with shares of Stock, with any combination of cash and shares of Stock, or with other legal consideration that the Administrator may deem appropriate, (iii) the
      methods of payment, which may include payment through cashless and net exercise arrangements, to the extent permitted by applicable law and (iv) the methods by which, or the time or times at which, Stock will be delivered or deemed to be delivered to
      Plan grantee upon the exercise of such Non-Qualified Stock Option. Payment of the exercise price shall in all events be made within three days after the date of exercise of an Option. With respect to any Plan grantee who is subject to Section 16 of
      the Exchange Act, such Plan grantee may direct the Company to reduce the number of shares that would otherwise be deliverable upon the exercise of his or her Non-Qualified Stock Option having a Fair Market Value on the date of exercise equal to the
      exercise price of the portion of the Non-Qualified Stock Option then being exercised.

    

    

    SECTION 6. TRANSFERABILITY

    

    

    (a) Transferability. Except as provided in
      Section 6(b) below, during a grantee’s lifetime, his or her Non-Qualified Stock Options shall be exercisable only by the grantee, or by the grantee’s legal representative or guardian in the event of the grantee’s incapacity. No Non-Qualified Stock
      Options shall be sold, assigned, transferred or otherwise encumbered or disposed of by a grantee other than by will or by the laws of descent and distribution or pursuant to a domestic relations order. No Non-Qualified Stock Options shall be subject,
      in whole or in part, to attachment, execution, or levy of any kind, and any purported transfer in violation hereof shall be null and void.

     

    

    (b) Administrator Action. Notwithstanding
      Section 6(a), the Administrator, in its discretion, may provide either in the Option Award Agreement regarding a given Non-Qualified Stock Option or by subsequent written approval that the grantee may transfer his or her Non-Qualified Stock Options
      to his or her immediate family members, to trusts for the benefit of such family members, or to partnerships in which such family members are the only partners, provided that the transferee agrees in writing with the Company to be bound by all of the
      terms and conditions of this Plan and the applicable Non-Qualified Stock Option. In no event may a Non-Qualified Stock Option be transferred by a grantee for value.

    

    

    (c) Family Member. For purposes of Section
      6(b), “family member” shall mean a grantee’s child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law,
      including adoptive relationships, any person sharing the grantee’s household (other than a tenant of the grantee), a trust for the benefit of such family members and to partnerships in which such family members are the only partners (any vesting
      conditions shall be unaffected by such transfer).

    

    

    (d) Designation of Beneficiary. Each grantee
      to whom a Non-Qualified Stock Option has been made under the Plan may designate a beneficiary or beneficiaries to exercise any Non-Qualified Stock Option or receive any payment under any Non-Qualified Stock Option payable on or after the grantee’s
      death. Any such designation shall be on a form provided for that purpose by the Administrator and shall not be effective until received by the Administrator. If no beneficiary has been designated by a deceased grantee, or if the designated
      beneficiaries have predeceased the grantee, the beneficiary shall be the grantee’s estate.

    

    

    SECTION 7. TAX WITHHOLDING

    

    

    (a) Payment by Grantee. Each grantee shall,
      no later than the date as of which the value of a Non-Qualified Stock Option or of any Stock or other amounts received thereunder first becomes includable in the gross income of the grantee for Federal income tax purposes, pay to the Company, or make
      arrangements satisfactory to the Administrator regarding payment of, any Federal, state, or local taxes of any kind required by law to be withheld by the Company with respect to such income. The Company and its Subsidiaries shall, to the extent
      permitted by law, have the right to deduct any such taxes from any payment of any kind otherwise due to the grantee. The Company’s obligation to deliver evidence of book entry (or stock certificates) to any grantee is subject to and conditioned on
      tax withholding obligations being satisfied by the grantee.

    

    

    (b) Payment in Stock. Subject to approval by
      the Administrator, a grantee may elect to have the Company’s minimum required tax withholding obligation satisfied, in whole or in part, by authorizing the Company to withhold from shares of Stock to be issued pursuant to any Non-Qualified Stock
      Option a number of shares with an aggregate Fair Market Value (as of the date the withholding is effected) that would satisfy the withholding amount due.

     

    

    
      5

      
        

    

    SECTION 8. SECTION 409A AWARDS

    

    

    To the extent that any Non-Qualified Stock Option is determined to constitute “nonqualified deferred compensation” within the meaning of
      Section 409A (a “409A Award”), the Non-Qualified Stock Option shall be subject to such additional rules and requirements as specified by the Administrator from
      time to time in order to comply with Section 409A. In this regard, if any amount under a 409A Award is payable upon a “separation from service” (within the meaning of Section 409A) to a grantee who is then considered a “specified employee” (within
      the meaning of Section 409A), then no such payment shall be made prior to the date that is the earlier of (i) six months and one day after the grantee’s separation from service, or (ii) the grantee’s death, but only to the extent such delay is
      necessary to prevent such payment from being subject to interest, penalties and/or additional tax imposed pursuant to Section 409A. Further, the settlement of any such Non-Qualified Stock Option may not be accelerated except to the extent permitted
      by Section 409A.

    

    

    SECTION 9. TRANSFER, LEAVE OF ABSENCE, ETC.

    

    

    For purposes of the Plan, the following events shall not be deemed a termination of employment:

    

    

    (a) a transfer to the employment of the Company from a Subsidiary or from the Company to a Subsidiary, or from one Subsidiary to another;
      or

    

    

    (b) an approved leave of absence for military service or sickness, or for any other purpose approved by the Company, if the employee’s
      right to re-employment is guaranteed either by a statute or by contract or under the policy pursuant to which the leave of absence was granted or if the Administrator otherwise so provides in writing.

    

    

    SECTION 10. AMENDMENTS AND TERMINATION

    

    

    The Board may, at any time, amend or discontinue the Plan and the Administrator may, at any time, amend or cancel any outstanding
      Non-Qualified Stock Option for the purpose of satisfying changes in law or for any other lawful purpose, but no such action shall adversely affect rights under any outstanding Non-Qualified Stock Option without the holder’s consent. Except as
      provided in Section 3(c) or 3(d), without prior stockholder approval, in no event may the Administrator exercise its discretion to reduce the exercise price of outstanding Non-Qualified Stock Options or effect repricing through cancellation and
      re-grants or cancellation of Non-Qualified Stock Options in exchange for cash. To the extent required under the rules of any securities exchange or market system on which the Stock is listed, Plan amendments shall be subject to approval by the
      Company stockholders entitled to vote at a meeting of stockholders. Nothing in this Section 10 shall limit the Administrator’s authority to take any action permitted pursuant to Section 3(c) or 3(d).

    

    

    SECTION 11. STATUS OF PLAN

    

    

    With respect to the portion of any Non-Qualified Stock Option that has not been exercised and any payments in cash, Stock or other
      consideration not received by a grantee, a grantee shall have no rights greater than those of a general creditor of the Company unless the Administrator shall otherwise expressly determine in connection with any Non-Qualified Stock Option or
      Non-Qualified Stock Options. In its sole discretion, the Administrator may authorize the creation of trusts or other arrangements to meet the Company’s obligations to deliver Stock or make payments with respect to Non-Qualified Stock Options
      hereunder, provided that the existence of such trusts or other arrangements is consistent with the foregoing sentence.

    

    

    SECTION 12. GENERAL PROVISIONS

    

    

    (a) No Distribution. The Administrator may
      require each person acquiring Stock pursuant to a Non-Qualified Stock Option to represent to and agree with the Company in writing that such person is acquiring the shares without a view to distribution thereof.

     

    

    
      6

      
        

    

    (b) Delivery of Stock Certificates. Stock
      certificates to grantees under this Plan shall be deemed delivered for all purposes when the Company or a stock transfer agent of the Company provides electronic evidence of book entry (or stock certificates) to any grantee. Uncertificated Stock
      shall be deemed delivered for all purposes when the Company or a Stock transfer agent of the Company shall have given to the grantee by electronic mail (with proof of receipt), notice of issuance and recorded the issuance in its records (which may
      include electronic “book entry” records). Notwithstanding anything herein to the contrary, the Company shall not be required to issue or deliver any certificates evidencing shares of Stock pursuant to the exercise of any Non-Qualified Stock Option,
      unless and until the Administrator has determined, with advice of counsel (to the extent the Administrator deems such advice necessary or advisable), that the issuance and delivery of such certificates is in compliance with all applicable laws,
      regulations of governmental authorities and, if applicable, the requirements of any exchange on which the shares of Stock are listed, quoted or traded. All Stock certificates delivered pursuant to the Plan shall be subject to any stop-transfer orders
      and other restrictions as the Administrator deems necessary or advisable to comply with federal, state or foreign jurisdiction, securities or other laws, rules and quotation system on which the Stock is listed, quoted or traded. The Administrator may
      place legends on any Stock certificate to reference restrictions applicable to the Stock. In addition to the terms and conditions provided herein, the Administrator may require that an individual make such reasonable covenants, agreements, and
      representations as the Administrator, in its discretion, deems necessary or advisable in order to comply with any such laws, regulations, or requirements. The Administrator shall have the right to require any individual to comply with any timing or
      other restrictions with respect to the settlement or exercise of any Non-Qualified Stock Option, including a window-period limitation, as may be imposed in the discretion of the Administrator.

    

    

    (c) Stockholder Rights. Until Stock is deemed
      delivered in accordance with Section 12(b), no right to vote or receive dividends or any other rights of a stockholder will exist with respect to shares of Stock to be issued in connection with a Non-Qualified Stock Option, notwithstanding the
      exercise of a Non-Qualified Stock Option or any other action by the grantee with respect to a Non-Qualified Stock Option.

    

    

    (d) Other Compensation Arrangements; No Employment
          Rights. Nothing contained in this Plan shall prevent the Board from adopting other or additional compensation arrangements, including trusts, and such arrangements may be either generally applicable or applicable only in specific
      cases. The adoption of this Plan and the grant of Non-Qualified Stock Options do not confer upon any employee any right to continued employment with the Company or any Subsidiary.

    

    

    (e) Trading Policy Restrictions. Option
      exercises and other Non-Qualified Stock Options under the Plan shall be subject to the Company’s insider trading policies and procedures, as in effect from time to time.

    

    

    (f) Company Documents and Policies. This Plan
      and all Non-Qualified Stock Options granted hereunder are subject to the corporate articles and by-laws of the Company, as they may be amended from time to time, and all other Company policies duly adopted by the Board or the Administrator and as in
      effect from time to time regarding the acquisition, ownership or sale of Stock by employees, including without limitation policies intended to limit the potential for insider trading and to avoid or recover compensation payable or paid on the basis
      of inaccurate financial results or statements, employee conduct, and other similar events.

    

    

    SECTION 13. EFFECTIVE DATE OF PLAN

    

    

    This Plan shall become effective upon the Effective Date.

    

    

    SECTION 14. GOVERNING LAW

    

    

    This Plan and all Non-Qualified Stock Options and actions taken thereunder shall be governed by, and construed in accordance with, the
      laws of the State of Delaware, applied without regard to conflict of law principles.

  

  

  

  

  

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