Document:

Carrols Holdings Corporation First Amended and Restated 1998 Pollo Tropical Long

 Exhibit 10.37 
  
 CARROLS HOLDINGS CORPORATION 
 1st AMENDED AND RESTATED 1998 POLLO TROPICAL LONG-TERM INCENTIVE PLAN

  
 INTRODUCTION 
  
 Carrols Holdings Corporation (the “Company”) previously implemented the Carrols
Holdings Corporation 1998 Pollo Tropical Long-Term Incentive Plan (the “Prior Plan”) pursuant to which Incentive Stock Options have been granted to employees of the Company. The Company has made certain changes to the Prior Plan and set
forth below is the 1st Amended and Restated 1998 Pollo Tropical Long-Term Incentive Plan (the “Plan”).

  

	1.	Purpose 

  
 The purpose of this Plan is to further the growth and general prosperity of Company by providing long-term incentives to officers and employees of
the Company and any Subsidiaries of the Company. The Company intends that the Plan will help attract, retain and motivate officers and key employees of high caliber and good potential and promote the alignment of the Participants’ interests
with that of the Company’s shareholders. 
  

	2.	Definitions 

  
 As used in the Plan, the following words shall have the following meanings: 
  
 “Affiliate” of a Person other than an individual means any other Person, directly or indirectly
controlling, controlled by or under common control with such Person or, with respect to any partnership, any partner thereof. 
  
 “Award” means an award made to a Participant pursuant to the Plan and described in Paragraph 6, including, without limitation, an award
of an Incentive Stock Option, Nonqualified Stock Option, Stock Appreciation Right, Restricted Stock, Performance Units, Performance Shares, or Other Stock-Based Awards or any combination of the foregoing. 
  
 “Award Agreement” means an agreement between the Company and
a Participant that sets forth the terms, conditions and limitations applicable to an Award. 
  
 “Board” means the Board of Directors of the Company as constituted from time to time. 
  
 “Cause” has the meaning determined by the Committee and set forth in the applicable Participant’s Award Agreement. 
  
 As used in the Plan, the following words shall have the following meanings:

  
 “Carrols Stock” means Carrols stock, par
value $.01 per share, of the Company, which is a series of common stock of the Company. 
  
 “Certificate of Amendment” means the Certificate of Amendment to the Restated Certificate of Incorporation of the Company, filed with the Secretary of State of the State of Delaware. 
  
 “Change of Control” means: 

	 	(a)	The acquisition (other than from the Company) by any person, entity or “group”, within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act, excluding for this
purpose any employee benefit plan of the Company or its subsidiaries which acquires beneficial ownership of voting securities of the Company, of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act), of more than
50% of either the Company’s then outstanding shares of common stock or the combined voting power of the Company’s then outstanding voting securities entitled to vote generally in the election of directors; or 

  

	 	(b)(1)	Individuals who are elected as members of the Board of Directors of the Company (the “Incumbent Board”) pursuant to the terms of the Stockholders Agreement executed
in connection with the Stock Purchase Agreement thereto (the “Stockholders Agreement”) cease for any reason to constitute at least a majority of the Board; provided that any person becoming a director on or after the effective date
of the Stockholders Agreement whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board (other than an election or nomination of
an individual whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of directors of the Company, as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the
Exchange Act) shall be for purposes of the Plan, considered as though such person were a member of the Incumbent Board; or 

  

	 	(b)(2)	Notwithstanding the foregoing, Paragraph (b)(1) above shall not apply to any change in the Incumbent Board during the period in which the Stockholders Agreement is in effect and a
majority of the Board of the Company is designated or otherwise appointed to serve on the Board under the provisions of such Stockholders Agreement; or 

  

	 	(c)	Approval and consummation of a reorganization, merger, or consolidation, in each case, with respect to which persons who were the stockholders of the Company immediately prior to
such reorganization, merger or consolidation do not, immediately thereafter, own more than 50% of the combined voting power entitled to vote generally in the election of directors of the reorganized, merged or consolidated company’s then
outstanding voting securities, or a liquidation or dissolution of the Company or a Sale of Company or a Sale of the Pollo Tropical Group; or 

  

	 	(d)	The Company ceases to own at least 50 percent of the Carrols Corporation. 

  

	 	(e)	A Change of Control shall not be deemed to have occurred as a result of any purchase or acquisition of shares of capital stock in the Company by Madison Dearborn Capital Partners,
L.P. and its affiliates, Madison Dearborn Capital Partners II, L.P. and its affiliates, Atlantic Restaurants, Inc. and its affiliates, or any combination thereof. 

  
 “Code” means the Internal Revenue Code of 1986, as amended from time to time. 
  
 “Committee” means the Compensation Committee of the Board
or, if no Committee shall have been appointed, the full Board. 
  

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 “Employee” means any officer or other employee of the Company or any Subsidiary.

  
 “Exchange Act” means the Securities Exchange
Act of 1934, as amended from time to time. 
  
 “Fair
Market Value” as of any date: 
  

	 	(a)	of Stock shall be deemed to equal: (i) if the Stock is publicly traded, the average of the last reported sales prices of such Stock for ten (10) consecutive trading days as
officially reported on the principal trading market on which the Stock is traded ending on the second trading day prior to the date of determination; or (ii) if the Stock is not publicly traded, the value of a Share as determined in good faith by
the Committee or the Board of the Company on the advice of its independent auditors; or 

  

	 	(b)	of assets other than Stock shall equal such value as determined by the Committee in its sole discretion. 

  
 “Immediate Family” means an individual’s spouse and descendants (whether natural or adopted) and any
trust or partnership solely for the benefit of the individual and/or the individual’s spouse and/or descendants. 
  
 “Incentive Stock Option” means an option intended to be and designated as an incentive stock option meeting the requirements of Section
422 of the Code. 
  
 “Independent Third Party”
means any Person who, immediately prior to a contemplated transaction, does not own in exces“Fair Market Value” as of any date: s of 5% of the Carrols Stock on a fully-diluted basis (a “5% Owner”); who is not controlling,
controlled by or under control with any such 5% Owner and who is not the spouse or descendent (by birth or adoption) of any such 5% Owner or a trust for the benefit of such 5% Owner and/or such other Persons. 
  
 “Nonqualified Stock Option” means an option that is not
intended to be nor designated as an Incentive Stock Option. 
  
 “Other Stock-Based Awards” means any Award other than a Stock Option, Stock Appreciation Right, Restricted Stock, Performance Unit or Performance Share that is valued by reference to or otherwise based upon the Stock.

  
 “Participant” means an Employee who, as of
any date, has been granted one or more Awards under the Plan which are still outstanding (i.e., have not been exercised, forfeited or terminated). 
  
 “Performance Goals” means, with respect to any Performance Period, performance goals based on any of the following criteria and
established by the Committee prior to the beginning of such Performance Period or performance goals based on any of the following criteria and established by the Committee after the beginning of such Performance Period that meet the requirements to
be considered pre-established performance goals under Section 162(m) of the Code: earnings or earnings growth; return on equity, assets or investment; revenues; expenses; stock price; market share; charge-offs; or reductions in non-performing assets
or such other performance indicators as determined by the Committee in its sole discretion. Such Performance Goals may be particular to an Employee or the division, department, branch, line of business, Subsidiary or other unit in which the Employee
works, or may be based on the performance of the Company generally. 
  

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 “Performance Period” means (when and if applicable) the period of time designated by the
Committee during which Performance Goals will be measured in connection with an Award. 
  
 “Person” means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a trust, a joint venture, an unincorporated organization and a
governmental entity or any department, agency or political subdivision thereof. 
  
 “Pollo Tropical Group” has the meaning set forth in the Certificate of Amendment. 
  
 “Plan” means this Carrols Holdings Corporation 1st Amended and Restated 1998 Pollo Tropical Long-Term Incentive Plan, as amended from time to time. 
  
 “Qualified Public Offering” means the sale in an underwritten public offering registered under the Securities Act of 1933 of shares of
Carrols Stock resulting in aggregate gross proceeds to the Company of at least $50 million and a price per share of not less than $108.2353 (as such amount is equitably adjusted for subsequent stock splits, stock dividends and recapitalizations).

  
 “Sale of the Company” means the sale of the
Company to an Independent Third Party or affiliate group of Independent Third Parties pursuant to which such party or parties acquire (a) capital stock of the Company possessing the voting power to elect a majority of the Company’s Board
(whether by merger, consolidation or sale or transfer of the Company’s capital stock) or (b) all or substantially all of the Company’s assets determined on a consolidated basis. 
  
 “Sale of the Pollo Tropical Group” means the sale by the Company of the Pollo Tropical Group to an
Independent Third Party or affiliate group of Independent Third Parties pursuant to which such party or parties acquire (a) all or substantially all of the assets of the Pollo Tropical Group determined on a consolidated basis or (b) in the event all
of the assets and liabilities of the Pollo Tropical Group are held directly or indirectly by a Subsidiary, capital stock of the Subsidiary possessing the voting power to elect a majority of the Subsidiary’s Board (whether by merger,
consolidation or sale or transfer of the Subsidiary’s capital stock). 
  
 “Stock” or “Share” means the series of common stock, par value $.01 per share, of the Company that has been designated as Pollo Tropical Stock under the Certificate of Amendment,
which may be authorized but unissued or issued and reacquired. 
  
 “Stock Options” means the collective reference to Incentive Stock Options and Nonqualified Stock Options. 
  
 “Subsidiary” means any corporation, other than the Company, in which the Company has at least a fifty percent beneficial ownership
interest. 
  

	3.	Administration 

  

	 	(a)	The Plan shall be administered by the Committee. None of the members of the Committee shall be eligible to receive Awards under the Plan. Members of the Committee shall be intended
to qualify to administer and make Awards under the Plan for purposes of Section 162(m) of the Code and Rule 16b-3 (and any other applicable rule) promulgated under Section 16(b) of the Exchange Act. The Committee may adopt its own rules or
procedures, and the action of a majority of 

  
  

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 the Committee, taken at a meeting or taken without a meeting by a writing signed by such majority, shall
constitute action by the Committee. The Committee shall have the power and authority to administer, construe and interpret the Plan, to make rules for carrying it out and to make changes in such rules. Any such interpretations, rules, and
administration shall be consistent with the basic purposes of the Plan. 
  

	 	(b)	The Committee may delegate to the Chief Executive Officer and to other senior officers of the Company its duties under the Plan subject to such conditions and limitations as the
Committee shall prescribe; provided, however, that only the Committee may designate and make Awards to Participants who are subject to Section 16 of the Exchange Act and Section 162(m) of the Code. 

  

	 	(c)	The Committee may employ attorneys, consultants, accountants, appraisers, brokers or other persons. The Committee, the Company, and the officers and directors of the Company shall
be entitled to rely upon the advice, opinions or valuations of any such persons. All actions taken and all interpretations and determinations made by the Committee in good faith shall be final and binding upon all Participants, the Company and all
other interested persons. No member of the Committee shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or Awards made under the Plan, and all members of the Committee shall be
fully protected by the Company with respect to any such action, determination or interpretation. 

  

	4.	Eligibility 

  
 The Committee, in its discretion, may grant Awards to any Employee, subject to the provisions of the Plan. No Employee shall be entitled as a matter of
right to receive an Award, nor shall the grant of an Award entitle an Employee to receive any future Award. 
  

	5.	Award Agreement 

  
 The terms, conditions and limitations of each Award under the Plan shall be determined by the Committee subject to the limitations provided for in
Paragraph 7 below, and shall be set forth in an Award Agreement, in a form approved by the Committee, consistent, however, with the terms of the Plan; provided, however, that such Award Agreement shall contain provisions dealing with the treatment
of Awards in the event of the termination, death or disability of a Participant. 
  

	6.	Awards 

  
 As the Committee may determine, the following types of Awards may be granted under the Plan to eligible Employees, either alone, in combination or on an
alternative basis: 
  

	 	(a)	Incentive Stock Options: These are options within the meaning of Section 422 of the Code to purchase Stock. In addition to other restrictions contained in the Plan, an option
granted under this Paragraph 6(a), (i) may not be exercised more than 10 years after the date it is granted, (ii) may not have an option exercise price less 

  

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 than the Fair Market Value of the Stock on the date the option is granted, (iii) must otherwise comply
with the requirements of Section 422 of the Code, and (iv) must be designated as an “Incentive Stock Option” by the Committee. To the extent the aggregate Fair Market Value (determined as of the time the Incentive Stock Option is granted)
of the Stock with respect to which Incentive Stock Options become exercisable for the first time by a Participant during any calendar year under all plans of the Company or any Subsidiary exceeds ONE HUNDRED THOUSAND DOLLARS ($100,000), such options
shall be treated as Nonqualified Stock Options. 
  

	 	(b)	Nonqualified Stock Options: These are options to purchase Stock which are not intended to be and are not designated by the Committee as “Incentive Stock Options.”
At the time of the Award, the Committee shall determine, and shall have included in the Award Agreement or other Plan rules, the option exercise period, the option exercise price, and such other conditions or restrictions as may be appropriate. In
addition to the other restrictions contained in the Plan, an option granted under this Paragraph 6(b), (i) may not be exercised more than 10 years after the date it is granted, and (ii) may not have an option exercise price less than 100% of the
Fair Market Value of Stock on the date the option is granted. 

  
 Payment of the option exercise price for Stock Options granted pursuant to Paragraphs 6(a) and 6(b) shall be made (i) in cash, (ii) by delivering shares of Stock already owned by the Participant which shares of stock
shall have been owned by the Participant for at least six months prior to the date of such payment, or (iii) by delivering a promissory note to the Company that is either (A) unsecured and fully recourse against the Participant or (B) nonrecourse
with respect to payment of the principal amount thereof, recourse with respect to payment of interest thereon, and secured by the Stock being purchased by such exercise and by other assets having a Fair Market Value equal to not less than forty
(40%) percent of the exercise price per share (a “Nonrecourse Note”) and, in either event, such note shall mature on the earlier of (x) the expiration date of such Stock Option or (y) the fifth anniversary date and shall bear
interest, payable quarterly, at the Federal mid-term rate provided under Section 1274(d) of the Code or (iv) by a combination of any of the foregoing, in accordance with the terms of the Plan, the Award Agreement, and any other applicable guidelines
of the Committee. The terms of the Note shall provide that: (i) any dividends received on Stock securing a Note shall be applied toward payment of the principal and accrued interest of the Note; and (ii) the Note shall become immediately due and
payable upon the sale of the Stock securing the Note and the proceeds shall be applied to the payment of the unpaid principal balance and accrued interest of the Note. 
  

	 	(c)	Stock Appreciation Rights: These are rights that on exercise entitle the holder to receive the excess of (i) the Fair Market Value of a Share on the date of exercise over
(ii) the Fair Market Value on the date of award or, if connected with a previously issued Stock Option, the Fair Market Value at the time such previously issued Stock Option was granted (the “base value”), multiplied by (iii) the
number of Shares covered by the rights exercised, as determined by the Committee. A Stock Appreciation Right granted under the Plan may, but need not be, granted in tandem with a Stock Option under Paragraphs 6(a) or 6(b). The Committee, in the
Award Agreement or by other Plan rules, may impose such restrictions or conditions on the exercise of Stock Appreciation Rights as it deems appropriate, and may terminate, amend, or suspend such Stock Appreciation Rights at any

  

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 time. No Stock Appreciation Right granted under the Plan may be exercised more than 10 years after the
date it is granted. 
  

	 	(d)	Restricted Stock: Restricted Stock is Stock delivered to a Participant with or without payment of consideration, subject to such conditions, terms and restrictions (including
performance-based or employment-based vesting, forfeiture conditions and transfer restrictions) on the Participant’s right to transfer or sell such Stock. The number of Shares of Restricted Stock and the restrictions or conditions on such
Shares shall be determined by the Committee, in the Award Agreement or by other Plan rules, and the certificate for the Restricted Stock shall bear evidence of the restrictions or conditions. 

  

	 	(e)	Performance Shares and Performance Units: An Award of Performance Shares or Performance Units shall entitle a Participant to receive Stock or a cash payment specified by the
Committee, depending upon the attainment of certain Performance Goals that shall be specified by the Committee, and may relate to the performance of the Company or the Pollo Tropical Group or a combination thereof. At the time an Award of such
Shares or units is made, the Committee shall, in the Award Agreement, determine the base value of the Award or specify a formula for determining such value. Other than an Award intended to qualify under Section 162(m) of the Internal Revenue Code,
the Committee may adjust previously established Performance Goals and other terms and conditions of an Award at any time prior to the determination of the payment amount, to reflect major unforeseen events such as changes in laws, regulations or
accounting policies or procedures, mergers, acquisitions or divestitures or extraordinary, unusual or non-recurring items or events. 

  
 Payment pursuant to an Award of Performance Shares or Performance Units shall be made following the Committee’s determination of the extent to which
the performance criteria were satisfied, and shall be made in the form of stock, cash or a combination thereof, as the Committee may determine. Payment shall be made as promptly as practicable following the end of the Performance Period unless
deferred subject to such terms and conditions as may be prescribed by the Committee. 
  

	 	(f)	Other Stock-Based Awards: Other Stock-Based Awards may be granted to such Employees as the Committee may select, at any time and from time to time as the Committee shall
determine. The Committee shall have complete discretion in determining the number of Shares subject to such Awards, the consideration for such Awards and the terms, conditions and limitations pertaining to same including without limitation,
restrictions based upon the achievement of specified business objectives, tenure, and other measurements of individual or business performance, and/or restrictions under applicable federal or state securities laws, and conditions under which same
will lapse. Such awards may include the issuance of Stock in payments of amounts earned under other incentive compensation plans of the Company. The terms, restrictions and conditions of the Award need not be the same with respect to each
Participant. 

  
 The Committee may, in its sole
discretion, direct the Company to issue Shares subject to such restrictive legends and/or stop transfer instructions as the Committee deems appropriate. 
  

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	7.	Limitations and Conditions 

  

	 	(a)	The number of Shares of Pollo Tropical Stock available for Awards under the Plan shall be 100,000 or, if greater, such number of Shares as approved by the Committee. The Shares
available for Awards under the Plan will be available for grant at an exercise price per share as determined by the Committee. The number of Shares subject to Awards under the Plan (including, but not limited to, Stock Options and Stock Appreciation
Rights) to any one Participant shall not exceed 75,000 Shares. To the extent that any Award is canceled or forfeited, or terminates, expires, or lapses for any reason, any unissued Shares subject to such Award shall again be available for grant
under the Plan. 

  

	 	(b)	No Awards shall be made under the Plan beyond ten years after the effective date of the Plan, but the terms of Awards made on or before the expiration thereof may extend beyond such
expiration. 

  

	 	(c)	Nothing in the Plan shall interfere with or limit in any way the right of the Company or any Subsidiary to terminate any Participant’s employment at any time, nor confer upon
any Participant any right to continue in the employ of the Company or any Subsidiary. 

  

	 	(d)	Deferral of Award payouts may be provided for, in the sole discretion of the Committee, subject to such terms and conditions as the Committee may specify in the Award Agreements.

  

	 	(e)	Participants shall not have any of the rights or privileges of stockholders of the Company with respect to any Shares purchasable in connection with any Award, unless and until
certificates representing such Shares have been issued by the Company to such Participants. 

  

	 	(f)	Except as otherwise provided in this Paragraph 7, no Award may be sold, transferred, assigned or otherwise alienated or hypothecated, other than by will or by the laws of descent
and distribution, and shall be exercisable during a Participant’s lifetime only by the Participant or the Participant’s legal representative. The Participant may, if permitted by the Committee, transfer the Award, other than Incentive
Stock Options, without payment of consideration, to a member of Participant’s Immediate Family. Any attempt at assignment, transfer, pledge or disposition of the Award contrary to the provisions hereof or the levy of any execution, attachment
or similar process upon the Award other than as expressly permitted in this Paragraph 6 shall be null and void and without effect. 

  

	 	(g)	No holder of Shares shall sell, transfer, assign, pledge or otherwise dispose of (whether with or without consideration and whether voluntarily or involuntarily or by operation of
law) any interest in the Shares (a “Transfer”), except pursuant to a Public Sale or an Approved Sale (an “Exempt Transfer”) or pursuant to this Paragraph 7; provided that in no event shall any Transfer of Shares
pursuant to this Paragraph 7 be made for any consideration other than cash payable upon consummation of such Transfer or in installments over time. For purposes hereof, “Public Sale” means any sale of Shares to the public pursuant
to an offering registered under the Securities Act of 1933, as amended. 

  

	 	(h)	Prior to making any Transfer other than an Exempt Transfer, any holder of Shares intending to make such a Transfer (the “Transferring Stockholder”) shall deliver

  
  

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 written notice (the “Sale Notice”) to the Company. The Sale Notice shall disclose in
reasonable detail the identity of the prospective transferee(s), the number of shares to be transferred (the “Specified Shares”) and the terms and conditions of the proposed Transfer. No Transferring Stockholder shall consummate any
such Transfer until 45 days after the Sale Notice has been delivered to the Company, unless the parties to the Transfer have been finally determined pursuant to this Paragraph 6 prior to the expiration of such 45-day period. 
  

	 	(i)	The Company may elect to purchase all (but not less than all) of the Specified Shares upon the same terms and conditions as those set forth in the Sale Notice by delivering a
written notice of such election to the Transferring Stockholder within 30 days after the Sale Notice has been delivered to the Company. If the Company has elected to purchase the Specified Shares, the purchase of such Specified Shares shall be
consummated as soon as is practicable after the delivery of the election notice to the Transferring Stockholder. If the Company has not elected to purchase all of the Specified Shares, the Transferring Stockholder may transfer the Specified Shares
at a price and on terms no more favorable to the transferee(s) thereof than those specified in the Sale Notice. Any Specified Shares not so transferred by the Transferring Stockholder within 30 days shall be reoffered to the Company pursuant to this
Paragraph 7 prior to any subsequent Transfer. 

  

	 	(j)	The restrictions set forth in this Paragraph 7 shall not apply with respect to any Transfer of Shares by any Person (i) in the case of any individual, pursuant to applicable laws of
descent and distributions or among such individual’s Immediate Family or (ii) in the case of a Person other than an individual, among its Affiliates (collectively referred to herein as “Permitted Transferees”); provided that
the restrictions contained in this Paragraph 7 shall continue to be applicable to the Shares after any such Transfer. Notwithstanding the foregoing, no party hereto shall avoid the provisions of the Plan by making one or more transfers to one or
more Permitted Transferees and then disposing of all or any portion of such party’s interest in any such Permitted Transferee. 

  

	 	(k)	The restrictions on the Transfer of Shares set forth in this Paragraph 7 shall continue with respect to each Share until the date on which such Share has been transferred in a
Public Sale or an Approved Sale. 

  

	 	(l)	No grant or Award related payout under the Plan shall be deemed compensation for purposes of computing benefits or contributions under any retirement plan of the Company or any
Subsidiary and shall not affect any benefits under any other benefit plan of any kind or any benefit plan subsequently instituted under which the availability or amount of benefits is related to level of compensation. 

  

	 	(m)	No benefit or promise under the Plan shall be secured by any specific assets of the Company or any Subsidiary, nor shall any assets of the Company or any Subsidiary be designated as
attributable or allocated to the satisfaction of the Company’s obligations under the Plan. 

  

	 	(n)	Upon the conversion of Shares in connection with a public offering of the Company’s securities, other than a Qualified Public Offering, the Participant must execute, become a
party to and agree to be bound by the Company’s Stockholder’s Agreement dated March 27, 1997 by and among the Company, Madison Dearborn Capital Partners, L.P., Madison Dearborn Capital Partners II, L.P., Atlantic Restaurants, Inc., Alan
Vituli and the Management Investors. 

	

  
  

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	8.	Option Terms 

  

	 	(a)	The exercise period for a Stock Option, including any extension which the Committee may from time to time decide to grant, shall not exceed ten years from the date of grant.

  

	 	(b)	Except as otherwise provided by the Committee, a Stock Option shall become exercisable with respect to 20% of the Shares commencing on the first anniversary of the date of grant,
with an additional 20% becoming exercisable on each anniversary of the date of grant thereafter; provided, in each case, that the Participant shall have continuously remained in the active employment of the Company, or where appropriate, a
Subsidiary. 

  

	 	(c)	Except as otherwise provided by the Committee, if a Participant’s employment with the Company, or where appropriate, a Subsidiary terminates, then the Stock Options held by the
Participant shall have the vesting and exercise terms as determined by the Committee and provided in the applicable Participant’s Award Agreement. 

  

	 	(d)	Except as otherwise provided by the Committee, in the event that a Participant ceases to be employed by the Company or any of its Subsidiaries as a result of the Participant’s
termination for Cause (the “Termination”), any and all Shares which the Participant has acquired upon the exercise of the Stock Options (the “Repurchase Shares”), shall be subject to repurchase (the
“Repurchase Option”) by the Company as follows: 

  
 (i) The purchase price for each Repurchase Share shall be the lesser of (1) the exercise price paid for such Repurchase Share (as proportionately adjusted for all subsequent stock splits, stock dividends and other
recapitalizations) and (2) the Fair Market Value for such Repurchase Share. 
  
 (ii) The Board may elect to purchase all or any portion of the Repurchase Shares by delivering written notice (the “Repurchase Notice”) to the holder or holders of the Repurchase Shares within 90 days
after the Termination. The Repurchase Notice shall set forth the number of Repurchase Shares to be acquired from such holder of Repurchase Shares, the aggregate consideration to be paid therefor and the time and place for the closing of the
transaction. 
  
 (iii) The closing of the purchase of the
Repurchase Shares shall take place on the date designated by the Company in the Repurchase Notice, which date shall not be more than 90 days nor less than 5 days after the delivery of such notice; provided, however, that in no event will such date
be less than six months from the date of exercise of the Stock Option with respect to the Repurchase Shares. The Company shall pay for the Repurchase Shares by delivery of a check or wire transfer of funds. The Company shall be entitled to receive
from the Participant customary representations and warranties regarding the sale of the Repurchase Shares (including representations and warranties regarding good title to such shares, free and clear of any liens or encumbrances). 
  
 (iv) Notwithstanding anything to the contrary contained in the Plan, all
repurchases of Repurchase Shares by the Company shall be subject to 
  

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 applicable restrictions contained in the Delaware General Corporation Law and in the Company’s and
its Subsidiaries’ debt and equity financing agreements. If any such restrictions prohibit the repurchase of Repurchase Shares hereunder which the Company is otherwise entitled or required to make, the time periods provided herein shall be
suspended, and the Company may make such repurchases as soon as it is permitted to do so under such restrictions. 
  

	 	(a)	The Committee may provide that Awards earn dividends or dividend equivalents. Such dividends or dividend equivalents may be paid currently or may be credited to an account
established by the Committee under the Plan in the name of the Participant. Any crediting of dividends or dividend equivalents may be subject to such restrictions and conditions as the Committee may establish, including reinvestment in additional
Shares or Share equivalents. 

  

	 	(b)	In the event that any properties or assets attributed to the Pollo Tropical Group (the “Pollo Transferred Property”) are transferred (the “Pollo Property
Transfer”) to the Carrols Group from the Pollo Tropical Group (other than in connection with (i) a decrease in the Number of Shares Issuable with Respect to the Inter-Group Interest (as defined in the Certificate of Amendment), (ii) a
dividend or distribution on shares of Pollo Tropical Stock or (iii) all sale-leaseback transactions with respect to real property of the Pollo Tropical Group consummated prior to December 31, 1998), an amount shall be credited to an account
established by the Committee under the Plan in the name of the Participant if the Participant is holding unexercised Stock Options (the “Individual Account”) at the time of such Pollo Property Transfer equal to the product of (x)
the Fair Value (as defined in the Certificate of Amendment) of the Pollo Transferred Property on the date of such Pollo Property Transfer and (y) a fraction, the numerator of which is equal to the number of Shares issuable upon exercise of the
Participant’s unexercised Stock Options, and the denominator of which is equal to (1) the Number of Shares Issuable with Respect to the Inter-Group Interest plus (2) the number of Shares currently outstanding. 

  

	 	(c)	In the event that any properties or assets attributed to the Carrols Group (the “Carrols Transferred Property”) are transferred (the “Carrols Property
Transfer”) to the Pollo Tropical Group from the Carrols Group (other than in connection with an increase in the Number of Shares Issuable with Respect to the Inter-Group Interest), an amount shall be deducted from, or debited to, the
Individual Account at the time of such Carrols Property Transfer equal to the product of (i) the Fair Value (as defined in the Certificate of Amendment) of the Carrols Transferred Property on the date of such Carrols Property Transfer and (ii) a
fraction, the numerator of which is equal to the number of Shares issuable upon exercise of a Participant’s unexercised Stock Options, and the denominator of which is equal to (x) the Number of Shares Issuable with Respect to the Inter-Group
Interest plus (y) the number of Shares currently outstanding. 

  

	 	(d)	The amount (as such amount may be adjusted from time to time pursuant to Paragraphs 9(b) and 9(c), the “Participant Amount”) maintained in a Participant’s
Individual Account (whether such amount is a positive or negative balance) will be applied (as provided in Paragraph 9(e)) only upon the (i) exchange of a Participant’s Stock Options or (ii) exercise by a Participant of any of his or her Stock
Options in the event (x) of a Change of Control, (y) that all of the properties and assets attributed to the Pollo Tropical Group are transferred to a wholly 

  

 11 

 owned subsidiary of the Company and the Shares and/or Stock Options are exchanged for shares of the
capital stock of such subsidiary and/or options to purchase shares of the capital stock of such subsidiary or (z) of a firm commitment initial public offering relating to the Carrols Stock and the Shares are exchanged for shares of Carrols Stock
(each, a “Triggering Event”). 
  

	 	(e)	In the event (i) a Participant is entitled to receive consideration (whether in the form of cash, property or other securities) upon the consummation of a Triggering Event (as a
result of the exercise of a Participant’s Stock Options) or (ii) a Participant’s Stock Options to purchase Shares are exchanged for options to purchase another security upon the consummation of a Triggering Event, the aggregate value of
either the consideration per share to be received by a Participant as a result of such Triggering Event (whether such consideration is payable in cash, property or securities) or the securities underlying the options which are issued or exchanged
for a Participant’s Stock Options as a result of such Triggering Event, as the case may be, shall be increased (where the Participant Amount is a positive number) or decreased (where the Participant Amount is a negative number) by an amount
equal to the quotient of (x) the Participant Amount and (y) the number of shares issuable upon the exercise of the outstanding Stock Options, less (in the event the Exercise Price is not paid by the Participant) the Exercise Price per share payable
upon exercise of such Stock Options. 

  

	 	(f)	In the event a Participant’s Stock Options expire or terminate, the Participant Amount shall be either reduced (where the Participant Amount is a positive number) or increased
(where the Participant Amount is a negative number), as the case may be, by an amount equal to the product of (1) the Participant Amount and (2) a fraction, the numerator of which is equal to the number of Shares which would have been issuable upon
the exercise of such expired or terminated Stock Options, and the denominator of which is equal to the number of Shares issuable upon exercise of all of the Participant’s Stock Options (including for such calculation the Shares which would have
been issuable upon the exercise of the expired or terminated Stock Options). Other than as provided in this Paragraph 9, the Participant shall have no rights whatsoever to receive the Participant Amount. 

  

	10.	Transfers and Leaves of Absence 

  
 For purposes of the Plan, (a) the transfer of a Participant’s employment between the Company and any Subsidiary without an intervening period of
separation shall not be deemed a termination of employment, and (b) a Participant who is granted in writing a leave of absence shall be deemed to have remained in the employ of the Company or Subsidiary during such leave of absence; provided,
however, that no Awards may be granted to an Employee while absent on such leave. 
  

	11.	Adjustments 

  

	 	(a)	In the event that a dividend shall be declared upon shares of Stock that is payable in shares of Stock, the number of shares of Stock then subject to any Award, the number of shares
of Stock reserved for issuance in accordance with the provisions of the Plan but not yet covered by an Award and the number of shares set forth in Paragraph 7(a) shall be adjusted by adding to each share the number of shares which would be
distributable thereon if such shares had been outstanding on the date fixed for determining the stockholders entitled to receive such dividend. 

  
  

 12 

	 	(b)	In the event that the outstanding shares of Stock shall be changed into or exchanged for a different number or kind of shares of stock or other securities of the Company or of
another corporation, whether through reorganization, recapitalization, stock split-up, combination of shares, sale of assets, merger or consolidation, then, there shall be substituted for each share of Stock then subject to any Award, for each share
of Stock reserved for issuance in accordance with the provisions of the Plan but not yet covered by an Award and for each share of Stock referred to in Paragraph 7(a), the number and kind of shares of stock or other securities into which each
outstanding share of Stock shall be so changed or for which each such share shall be exchanged. 

  

	 	(c)	In the event that there shall be any change, other than as specified in this Paragraph 11, in the number or kind of outstanding shares of Stock, or of any stock or other securities
into which Stock shall have been changed into, or for which it shall have been exchanged, then, if the Committee shall, in its sole discretion, determine that such change equitably requires an adjustment in the number or kind of shares then subject
to any Award, the number or kind of shares reserved for issuance in accordance with the provisions of the Plan but not yet covered by an Award and the number or kind of shares referred to in Paragraph 7(a), such adjustment shall be made by the
Committee and shall be effective and binding for all purposes of the Plan and of Awards granted in accordance with the provisions of the Plan. 

  

	 	(d)	In the case of any substitution or adjustment in accordance with the provisions of this Paragraph 11, the exercise price payable for each share of Stock issuable under the Stock
Option prior to such substitution or adjustment shall be the exercise price for all shares of stock or other securities which shall have been substituted for such share or to which such share shall have been adjusted in accordance with the
provisions of this Paragraph 11. 

  

	 	(e)	No adjustment or substitution provided for in this Paragraph 11 shall require the Company to sell a fractional share under any Award. Any fractional share resulting from an
adjustment or substitution provided for in this Paragraph 11 shall be rounded up to the nearest whole share. 

  

	12.	Change of Control  

  
 In the event of a Change of Control, any or all Stock Options and Stock Appreciation Rights still outstanding shall, notwithstanding any contrary terms of
the Award Agreement, vest and become exercisable in full on the date of such Change of Control. As soon as practicable but in no event later than thirty (30) days prior to the occurrence of a Change of Control, the Committee shall notify the
Participant of such Change of Control. Upon a Change of Control that qualifies as an Approved Sale (as defined in Paragraph 13) in which the outstanding common stock of the Company is converted or exchanged for or becomes a right to receive any
cash, property or securities other than Illiquid Consideration (as defined in Paragraph 13), (i) the Stock Options and Stock Appreciation Rights shall become exercisable solely for the amount of such cash, property or securities that the Participant
would have been entitled to had the Stock Options and Stock Appreciation Rights been exercised immediately prior to such event; and (ii) the Participant shall be given an opportunity to either (A) exercise any Stock Options and Stock Appreciation
Rights prior to the consummation of the Approved Sale and participate in such sale as a holder of Stock or (B) upon consummation of the Approved Sale, receive in exchange for such Stock Options and Stock Appreciation Rights consideration equal to
the amount determined by multiplying (1) the same amount 
  

 13 

 of consideration per share of Stock received by the holders of Stock in connection with the Approved Sale
less the exercise price per share of Stock of such Stock Options and Stock Appreciation Rights to acquire Stock by (2) the number of shares of Stock represented by such Stock Options and Stock Appreciation Rights. Notwithstanding the foregoing, to
the extent the Stock Options and Stock Appreciation Rights are not exercised prior to or exchanged simultaneously with the consummation of such Approved Sale in accordance with provisions (i) or (ii) herein, the Stock Options and Stock Appreciation
Rights shall be canceled. 
  

	13.	Sale of the Company or Sale of the Pollo Tropical Group 

  

	 	(a)	If (i) the Board and the holders of a majority of the Carrols Stock approve a Sale of the Company or (ii) the Board and, if required by applicable law, the holders of a majority of
the Carrols Stock approve a Sale of the Pollo Tropical Group (each an “Approved Sale”), the holders of Stock shall, if required by applicable law, consent to and raise no objections against such Approved Sale and if such Approved
Sale is structured as a sale of capital stock, the holders of Stock shall agree to sell their Stock on the terms and conditions approved by the Board and, if required, the holders of a majority of the Carrols Stock. The holders of Stock shall take
all necessary and desirable actions in connection with the consummation of an Approved Sale of the Company or an Approved Sale of the Pollo Tropical Group. Notwithstanding the foregoing, in the event that the consideration to be received by the
holders of Stock in connection with an Approved Sale shall include either (x) shares of common stock of a class which is not listed on a national securities exchange or in the NASDAQ system and which is not entitled to registration rights for sale
in a registered public offering under the Securities Act of 1933 or (y) shares of senior equity securities which do not provide for a scheduled redemption or a redemption at the option of the holders thereof, such holders shall not be required to
sell their shares of Stock pursuant to this Paragraph 13(a) (collectively, the “Illiquid Consideration”). 

  

	 	(b)	The obligations of the holders of Stock with respect to the Approved Sale of the Company or an Approved Sale of the Pollo Tropical Group is subject to the satisfaction of the
condition that, upon the consummation of such Approved Sale, all of the holders of Stock receive the same form and amount of consideration per share of Stock, or if any holders of Stock are given an option as to the form and amount of consideration
to be received, all holders be given the same option. 

  

	 	(c)	If the Company enters into any negotiation or transaction involving the issuance of securities of another party to the holders of the Company’s securities for which Rule 506
(or any similar rule then in effect), promulgated by the Securities Exchange Commission, may be available with respect to such negotiation or transaction (including a merger, consolidation or other reorganization), the holders of Stock shall at the
request of the Company, appoint a “purchaser representative” (as such term is defined in Rule 501) reasonably acceptable to the Company. If any holder of Stock appoints a purchaser representative designated by the Company, the Company
shall pay the fees of such purchaser representative. However, if any holder of Stock declines to appoint the purchaser representative designated by the Company, such holder shall appoint another purchaser representative (reasonably acceptable to the
Company), and such holder shall be responsible for the fees of the purchaser representative so appointed. 

  
  

 14 

	 	(d)	Participants and the other holders of Stock (if any) shall bear their pro-rata share (based upon the number of shares sold) of the costs of any sale of Stock pursuant to an Approved
Sale to the extent such costs are incurred for the benefit of all holders of Stock and are not otherwise paid by the Company or the acquiring party. Costs incurred by Participants and the other holders of Stock on their own behalf shall not be
considered costs of the transaction hereunder. 

  

	 	(e)	The provisions of this Paragraph 13 shall terminate upon the closing of a Qualified Public Offering. 

  

	14.	Amendment and Termination 

  

	 	(a)	The Committee shall have the authority to make such amendments to any terms and conditions applicable to outstanding Awards as are consistent with the Plan provided that, no such
action shall modify such Award in a manner adverse to the Participant without the Participant’s consent, except as such modification is provided for or contemplated under the terms of the Award. 

  

	 	(b)	The Committee may terminate, amend or modify the provisions of the Plan (including any performance criteria or conditions which must be achieved in order for an Employee to receive
an Award or Awards, subject to Paragraph 6(e)) at any time and from time to time; provided, however, that an amendment which requires stockholder approval in order for the Plan to continue to comply with Rule 16b-3, Section 162(m) of the Code or any
other law, regulation or stock exchange requirement shall not be effective unless approved by the requisite vote of stockholders. The termination, amendment or modification of the Plan may be in response to changes in the Code, the Exchange Act,
national securities exchange regulations or for other reasons deemed appropriate by the Committee. 

  

	 	(c)	Notwithstanding anything herein to the contrary, in the event that the Committee, in its sole discretion, determines that either (i) the grant of an Award or (ii) the issuance of
Stock in connection with an Award hereunder, would result in the Company or any of its Subsidiaries recognizing gain for federal or state income tax purposes, the Committee shall have the right, in its sole discretion, to amend, terminate, suspend
or otherwise modify the Plan or any Award hereunder in whole or in part in order to limit or eliminate such adverse tax effect on the Company or any of its Subsidiaries; provided, however, that the Committee shall in good faith use its best efforts
to put Participants in substantially the same economic position as they would have been in had the provisions of this subsection not been applicable. 

  

	15.	Foreign Options and Rights 

  
 The Committee may make Awards to Employees who are subject to the laws of nations other than the United States, which Awards may have terms and conditions
that differ from the terms thereof as provided elsewhere in the Plan for the purpose of complying with foreign laws. 
  

 15 

	16.	Withholding Taxes 

  
 The Company shall have the right to deduct from any cash payment made under the Plan any federal, state or local income or other taxes required by law to
be withheld with respect to such payment. It shall be a condition to the obligation of the Company to deliver Shares upon the exercise of a Stock Option or Stock Appreciation Right, upon payment of Performance Units or Performance Shares, upon
delivery of Restricted Stock or upon exercise, settlement or payment of any Other Stock-Based Award, that the Participant pay to the Company such amount as may be requested by the Company for the purpose of satisfying any liability for such
withholding taxes. 
  

	17.	Indemnification 

  
 Each current or former member of the Committee, and of the Board, shall be indemnified and held harmless by the Company against any loss, cost, liability
or expense that may be imposed upon, or reasonably incurred by him or her in connection with or resulting from any claim, action, suit or proceeding to which the member may be a party or in which the member may be involved by reason of any action
taken or failure to act under the Plan and against and from any and all amounts paid by the member in settlement thereof, with the Company’s approval, or paid by the member in satisfaction of any judgment in any such action, suit or proceeding
against the member, provided such member shall give the Company an opportunity, at its own expense, to handle and defend the same before the member undertakes to handle and defend it on his or her own behalf. The foregoing right of indemnification
shall not be exclusive of any other rights of indemnification to which the member may be entitled under the Company’s Certificate of Incorporation, as amended or By-laws, as a matter of law, or otherwise, or any power that the Company may have
to indemnify them or hold them harmless. 
  

	18.	Successors 

  
 The terms of the Plan shall be binding upon the Company, its successors and assigns and all transferees of Awards and/or Shares hereunder. 
  

	19.	Requirement of Law 

  

	 	(a)	The granting of Awards and the issuance of Shares under the Plan shall be subject to all applicable laws, rules and regulations, and to such approval by any governmental agencies or
national securities exchanges as may be required. 

  

	 	(b)	In the event any provision of the Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan
shall be construed and enforced as if the illegal or invalid provision had not been included. 

  

	 	(c)	To the extent that federal laws do not otherwise control, the Plan and all Award Agreements, shall be construed in accordance with and governed by the laws of the State of New York.

  

 16 

	20.	Effective Date and Termination Dates 

  
 The Plan, as amended and restated, shall be effective as of July 20, 1998 and shall terminate ten years later, subject to such earlier termination by the
Committee pursuant to Paragraph 14. 
  

 17Amended and Restated Credit Agreement

 Exhibit 4.1 
  

Published CUSIP Number                     

  
 AMENDED AND RESTATED CREDIT AGREEMENT 
  
 Dated as of May 4, 2004 
  
 among 
  
 OWENS & MINOR DISTRIBUTION, INC. and OWENS & MINOR MEDICAL, INC., 
 as Borrowers, 
  
 OWENS & MINOR, INC. 
 and 
 CERTAIN OF ITS DOMESTIC SUBSIDIARIES IDENTIFIED HEREIN, 
 as Guarantors, 
  
 THE BANKS IDENTIFIED HEREIN, 
  
 WACHOVIA BANK, NATIONAL ASSOCIATION 
 and 
 SUNTRUST BANK 
 as Syndication Agents 
  
 and 
  
 BANK
OF AMERICA, N.A., 
 as Administrative Agent 
  
 ARRANGED BY: 
  
 BANC OF AMERICA SECURITIES LLC, and 
 WACHOVIA CAPITAL MARKETS, LLC 
 as Co-Lead Arrangers 
  
 and 
  
 BANC
OF AMERICA SECURITIES LLC, 
 WACHOVIA CAPITAL MARKETS, LLC, and 
 SUNTRUST SECURITIES, INC. 
 as Co-Book Managers 

 TABLE OF CONTENTS 
  

							
	 	 	 	 	 	  	Page

	 SECTION 1
	 	 DEFINITIONS AND ACCOUNTING TERMS
	  	1
	 	 	 1.1
	 	 Definitions
	  	1
	 	 	 1.2
	 	 Computation of Time Periods
	  	23
	 	 	 1.3
	 	 Accounting Terms
	  	23
			
	 SECTION 2
	 	 CREDIT FACILITIES
	  	24
	 	 	 2.1
	 	 Commitments
	  	24
	 	 	 2.2
	 	 Method of Borrowing
	  	25
	 	 	 2.3
	 	 Interest
	  	26
	 	 	 2.4
	 	 Repayment
	  	26
	 	 	 2.5
	 	 Notes
	  	27
	 	 	 2.6
	 	 Additional Provisions relating to Letters of Credit
	  	27
	 	 	 2.7
	 	 Additional Provisions relating to Swingline Loans
	  	31
	 	 	 2.8
	 	 Joint and Several Liability of the Borrowers
	  	31
	 	 	 2.9
	 	 Appointment of Parent as Legal Representative for Credit Parties
	  	33
			
	 SECTION 3
	 	 OTHER PROVISIONS RELATING TO CREDIT FACILITY
	  	33
	 	 	 3.1
	 	 Default Rate
	  	33
	 	 	 3.2
	 	 Conversion
	  	33
	 	 	 3.3
	 	 Termination of Commitments
	  	34
	 	 	 3.4
	 	 Prepayments
	  	34
	 	 	 3.5
	 	 Fees
	  	35
	 	 	 3.6
	 	 Capital Adequacy
	  	35
	 	 	 3.7
	 	 Limitation on Eurodollar Loans
	  	36
	 	 	 3.8
	 	 Illegality
	  	36
	 	 	 3.9
	 	 Requirements of Law
	  	36
	 	 	 3.10
	 	 Treatment of Affected Loans
	  	37
	 	 	 3.11
	 	 Taxes
	  	37
	 	 	 3.12
	 	 Compensation
	  	40
	 	 	 3.13
	 	 Pro Rata Treatment
	  	40
	 	 	 3.14
	 	 Sharing of Payments
	  	41
	 	 	 3.15
	 	 Payments, Computations, Etc
	  	42
	 	 	 3.16
	 	 Evidence of Debt
	  	44
	 	 	 3.17
	 	 Certain Limitations
	  	44
			
	 SECTION 4
	 	 GUARANTY
	  	45
	 	 	 4.1
	 	 The Guaranty
	  	45
	 	 	 4.2
	 	 Obligations Unconditional
	  	45
	 	 	 4.3
	 	 Reinstatement
	  	46
	 	 	 4.4
	 	 Certain Additional Waivers
	  	46
	 	 	 4.5
	 	 Remedies
	  	47
	 	 	 4.6
	 	 Rights of Contribution
	  	47
	 	 	 4.7
	 	 Guarantee of Payment; Continuing Guarantee
	  	48
			
	 SECTION 5
	 	 CONDITIONS PRECEDENT
	  	48
	 	 	 5.1
	 	 Conditions to Closing
	  	48
	 	 	 5.2
	 	 Conditions to all Extensions of Credit
	  	49
			
	 SECTION 6
	 	 REPRESENTATIONS AND WARRANTIES
	  	50
	 	 	 6.1
	 	 Organization and Good Standing
	  	50

  

 i 

							
	 	 	 6.2
	  	 Due Authorization
	  	50
	 	 	 6.3
	  	 No Conflicts
	  	50
	 	 	 6.4
	  	 Consents
	  	50
	 	 	 6.5
	  	 Enforceable Obligations
	  	51
	 	 	 6.6
	  	 Reserved
	  	51
	 	 	 6.7
	  	 Financial Condition
	  	51
	 	 	 6.8
	  	 No Material Adverse Changes or Restricted Payments
	  	51
	 	 	 6.9
	  	 No Default
	  	51
	 	 	 6.10
	  	 Liens
	  	52
	 	 	 6.11
	  	 Indebtedness
	  	52
	 	 	 6.12
	  	 Litigation
	  	52
	 	 	 6.13
	  	 Material Agreements
	  	52
	 	 	 6.14
	  	 Taxes
	  	52
	 	 	 6.15
	  	 Compliance with Law
	  	52
	 	 	 6.16
	  	 ERISA
	  	52
	 	 	 6.17
	  	 Subsidiaries
	  	53
	 	 	 6.18
	  	 Use of Proceeds; Margin Stock
	  	54
	 	 	 6.19
	  	 Government Regulation
	  	54
	 	 	 6.20
	  	 Environmental Matters
	  	54
	 	 	 6.21
	  	 Intellectual Property, Franchises, etc
	  	55
	 	 	 6.22
	  	 Investments
	  	55
	 	 	 6.23
	  	 No Material Misstatements
	  	55
	 	 	 6.24
	  	 Labor Matters
	  	56
			
	 SECTION 7
	  	 AFFIRMATIVE COVENANTS
	  	56
	 	 	 7.1
	  	 Information Covenants
	  	56
	 	 	 7.2
	  	 Preservation of Existence and Franchises
	  	59
	 	 	 7.3
	  	 Books, Records and Inspections
	  	59
	 	 	 7.4
	  	 Compliance with Law
	  	59
	 	 	 7.5
	  	 Payment of Taxes and Other Indebtedness
	  	59
	 	 	 7.6
	  	 Insurance
	  	60
	 	 	 7.7
	  	 Maintenance of Property
	  	60
	 	 	 7.8
	  	 Performance of Obligations
	  	60
	 	 	 7.9
	  	 Use of Proceeds
	  	60
	 	 	 7.10
	  	 Financial Covenants
	  	60
	 	 	 7.11
	  	 Additional Credit Parties
	  	61
			
	 SECTION 8
	  	 NEGATIVE COVENANTS
	  	61
	 	 	 8.1
	  	 Indebtedness
	  	61
	 	 	 8.2
	  	 Liens
	  	62
	 	 	 8.3
	  	 Nature of Business
	  	62
	 	 	 8.4
	  	 Consolidation, Merger, Sale or Purchase of Assets, etc
	  	62
	 	 	 8.5
	  	 Asset Dispositions
	  	64
	 	 	 8.6
	  	 Advances, Investments and Loans
	  	64
	 	 	 8.7
	  	 Prepayments and Amendments Relating to Other Debt
	  	64
	 	 	 8.8
	  	 Transactions with Affiliates
	  	65
	 	 	 8.9
	  	 Ownership of Subsidiaries
	  	65
	 	 	 8.10
	  	 Fiscal Year
	  	66
	 	 	 8.11
	  	 Subsidiary Dividends
	  	66
	 	 	 8.12
	  	 Restricted Payments
	  	66

  

 ii 

							
	 SECTION 9
	  	 EVENTS OF DEFAULT
	  	66
	 	 	 9.1
	  	 Events of Default
	  	66
	 	 	 9.2
	  	 Acceleration; Remedies
	  	68
			
	 SECTION 10
	  	 AGENCY PROVISIONS
	  	69
	 	 	 10.1
	  	 Appointment and Authorization of Agent
	  	69
	 	 	 10.2
	  	 Delegation of Duties
	  	70
	 	 	 10.3
	  	 Liability of Agent
	  	70
	 	 	 10.4
	  	 Reliance by Agent
	  	70
	 	 	 10.5
	  	 Notice of Default
	  	71
	 	 	 10.6
	  	 Credit Decision; Disclosure of Information by Agent
	  	71
	 	 	 10.7
	  	 Indemnification of Agent
	  	71
	 	 	 10.8
	  	 Agent in its Individual Capacity
	  	72
	 	 	 10.9
	  	 Successor Agent
	  	72
	 	 	 10.10
	  	 Administrative Agent May File Proofs of Claim
	  	73
	 	 	 10.11
	  	 Guaranty Matters
	  	73
	 	 	 10.12
	  	 Other Agents; Lead Managers
	  	74
			
	 SECTION 11
	  	 MISCELLANEOUS
	  	74
	 	 	 11.1
	  	 Notices
	  	74
	 	 	 11.2
	  	 Right of Set-Off; Adjustments
	  	75
	 	 	 11.3
	  	 Successors and Assigns
	  	75
	 	 	 11.4
	  	 No Waiver; Remedies Cumulative
	  	77
	 	 	 11.5
	  	 Expenses; Indemnification
	  	77
	 	 	 11.6
	  	 Amendments, Waivers and Consents
	  	78
	 	 	 11.7
	  	 Counterparts
	  	79
	 	 	 11.8
	  	 Headings
	  	79
	 	 	 11.9
	  	 Survival
	  	80
	 	 	 11.10
	  	 Governing Law; Submission to Jurisdiction; Venue; Waiver of Jury Trial
	  	80
	 	 	 11.11
	  	 Severability
	  	80
	 	 	 11.12
	  	 Entirety
	  	81
	 	 	 11.13
	  	 Binding Effect; Termination
	  	81
	 	 	 11.14
	  	 Confidentiality
	  	81
	 	 	 11.15
	  	 Source of Funds
	  	82
	 	 	 11.16
	  	 Conflict
	  	83
	 	 	 11.17
	  	 USA Patriot Act Notice
	  	83

  

 iii 

 SCHEDULES 
  

			
	 Schedule 1.1(a)
	  	 Existing Letters of Credit

	 Schedule 2.1
	  	 Commitments

	 Schedule 2.2(a)(i)
	  	 Form of Notice of Revolving Loan Borrowing

	 Schedule 2.2(a)(ii)
	  	 Form of Notice of Swingline Loan Borrowing

	 Schedule 2.2(a)(iii)
	  	 Form of Notice of Request of Letter of Credit

	 Schedule 2.5
	  	 Form of Revolving Note

	 Schedule 3.2
	  	 Form of Notice of Conversion

	 Schedule 5.1(b)
	  	 Form of Legal Opinions

	 Schedule 5.1(e)
	  	 Form of Officer’s Certificate

	 Schedule 6.17
	  	 Subsidiaries

	 Schedule 7.1(c)
	  	 Form of Borrowing Base Certificate

	 Schedule 7.1(d)
	  	 Form of Officer’s Compliance Certificate

	 Schedule 7.11
	  	 Form of Joinder Agreement

	 Schedule 8.1(b)
	  	 Existing Indebtedness

	 Schedule 8.2
	  	 Existing Liens

	 Schedule 11.1
	  	 Notice Addresses

	 Schedule 11.3(b)
	  	 Form of Assignment and Acceptance Agreement

  

 iv 

 AMENDED AND RESTATED CREDIT AGREEMENT 
  
 THIS AMENDED AND RESTATED CREDIT AGREEMENT dated as of May 4, 2004 (the “Credit Agreement”), is by and
among OWENS & MINOR DISTRIBUTION, INC., a Virginia corporation and OWENS & MINOR MEDICAL, INC., a Virginia corporation (together, the “Borrowers”), OWENS & MINOR, INC., a Virginia corporation (the
“Parent”), certain subsidiaries of the Parent (together with the Parent, the “Guarantors”), the Banks (as defined herein), WACHOVIA BANK, NATIONAL ASSOCIATION and SUNTRUST BANK, as syndication agents and BANK OF
AMERICA, N.A., as administrative agent for the Banks (in such capacity, the “Administrative Agent”). 
  
 W I T N E S S E T H 
  
 WHEREAS, the Parent and its Subsidiaries (the “Existing Credit Parties”) are parties to certain Credit Agreement dated as of April 30,
2002, as amended (the “Existing Credit Agreement”), among the Existing Credit Parties, the banks party thereto and Bank of America, N.A., as administrative agent for the banks; and 
  
 WHEREAS, the Existing Credit Parties have requested that the Existing Credit
Agreement be amended and restated on the terms and conditions set forth herein; and 
  
 WHEREAS, the Banks have agreed to make the requested amended and restated credit facility available to the Borrowers on the terms and conditions set forth herein. 
  
 NOW, THEREFORE, IN CONSIDERATION of the premises and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
  
 SECTION 1 
  
 DEFINITIONS AND ACCOUNTING TERMS 
  
 1.1
Definitions. 
  
 As used herein, the following terms shall
have the meanings herein specified unless the context otherwise requires. Defined terms herein shall include in the singular number the plural and in the plural the singular: 
  
 “Acquisition”, by any Person, means the purchase or acquisition by such Person of any Capital Stock of
another Person (other than a member of the Consolidated Group) or all or any substantial portion of the Property (other than Capital Stock) of another Person (other than a member of the Consolidated Group), whether or not involving a merger or
consolidation with such other Person. 
  
 “Additional
Credit Party” means each Domestic Subsidiary of the Parent that becomes a Guarantor after the Closing Date by execution of a Joinder Agreement. 
  
 “Administrative Agent” means the Person identified as such in the heading hereof, together with any permitted successors and assigns.

  

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 “Administrative Agent’s Fee Letter” means the letter agreement dated as of April 9,
2004 between the Administrative Agent and the Parent, as amended, modified, supplemented or replaced from time to time. 
  
 “Affiliate” means, with respect to any Person, any other Person directly or indirectly controlling (including but not limited to all
directors and officers of such Person), controlled by or under direct or indirect common control with such Person. A Person shall be deemed to control a corporation if such Person possesses, directly or indirectly, the power (i) to vote 10% or more
of the securities having ordinary voting power for the election of directors of such corporation or (ii) to direct or cause direction of the management and policies of such corporation, whether through the ownership of voting securities, by contract
or otherwise. 
  
 “Agent-Related Persons” means
the Administrative Agent (including any successor Administrative Agent), together with its Affiliates (including, in the case of Bank of America in its capacity as the Administrative Agent, the Arranger), and the officers, directors, employees,
agents and attorneys-in-fact of such Persons and Affiliates. 
  
 “Aggregate Revolving Committed Amount” shall have the meaning assigned to such term in Section 2.1(a). 
  
 “Applicable Federal Funds Rate” means, for any day, a per annum rate equal to the sum of (i) the Federal Funds Rate plus (ii)
one-eighth of one percent (0.125%). Any change in the Applicable Federal Funds Rate due to a change in the Federal Funds Rate shall be effective on the effective date of such change in the Federal Funds Rate. 
  
 “Applicable Lending Office” means, for each Bank, the office
of such Bank (or of an affiliate of such Bank) as such Bank may from time to time specify to the Administrative Agent and the Borrower Representative by written notice as the office by which its Eurodollar Loans are made and maintained. 

 
 “Applicable Percentage” means for any day, the rate per
annum set forth below opposite the applicable Consolidated Total Leverage Ratio then in effect, it being understood that the Applicable Percentage for (i) Base Rate Loans shall be the percentage set forth under the column “Base Rate
Margin”, (ii) Eurodollar Loans shall be the percentage set forth under the column “Eurodollar Margin”, (iii) Fed Funds Swingline Loans shall be the percentage set forth under “Eurodollar Margin”, (iv) Standby Letter of
Credit Fee shall be the percentage set forth under the Column “Eurodollar Margin” and (v) the Commitment Fee shall be the percentage set forth under the column “Commitment Fee”: 
  

												
	 Pricing Level

	  	Consolidated Total
Leverage Ratio

	  	Eurodollar
Margin

	 	 	Base Rate
Margin

	 	 	Commitment
Fee

	 
	 I
	  	>3.0:1.0	  	1.625	%	 	0.625	%	 	0.350	%
	 II
	  	>2.50:1.0 but < 3.0:1.0	  	1.400	%	 	0.400	%	 	0.300	%
	 III
	  	>2.0:1.0 but < 2.50:1.0	  	1.250	%	 	0.250	%	 	0.250	%
	 IV
	  	>1.50:1.0 but < 2.0:1.0	  	1.000	%	 	0.000	%	 	0.200	%
	 V
	  	>1.0:1.0 but < 1.50:1.0	  	0.875	%	 	0.000	%	 	0.175	%
	 VI
	  	< 1. 0:1.0	  	0.750	%	 	0.000	%	 	0.150	%

  
 The Applicable Percentage shall, in
each case, be determined and adjusted quarterly on the date (each an “Interest Determination Date”) five (5) Business Days after the date by which the Borrowers are required 

  

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to provide the quarterly or annual compliance certificate and related financial statements in accordance with the provisions of Sections 7.1(a) and (b), as
appropriate; provided that: 
  
 (i) the initial Applicable
Percentages shall be based on the financial statements and related financial information for fiscal quarter of the Parent ended December 31, 2003 and shall remain in effect until the first Interest Determination Date to occur after the Closing Date,

  
 (ii) notwithstanding the foregoing, in the event an annual or
quarterly compliance certificate and related financial statements are not delivered timely to the Administrative Agent by the date required by Sections 7.1(a), (b) and (c), as appropriate, the Applicable Percentage, in each case, shall be based on
Pricing Level I until the date five (5) Business Days after such compliance certificate and related financial statements are delivered to the Administrative Agent; and 
  
 (iii) to the extent that on any determination date, the Parent currently maintains a long term unsecured senior, non-credit
enhanced debt rating of BBB- or higher from S&P or Baa3 or higher from Moody’s, the Applicable Percentage for each level set forth in the table above other than the Commitment Fee shall be reduced by 0.125% (but in no case less than 0%) and
the Commitment Fee for each level set forth in the table above shall be reduced by 0.05%. 
  
 Subject to the qualifications set forth above, the Applicable Percentage, in each case, shall be effective from an Interest Determination Date until the next Interest Determination Date. The Administrative Agent shall
determine the appropriate Applicable Percentages promptly upon receipt of, and based on the information contained in, the quarterly or annual compliance certificates and related financial statements. The Administrative Agent shall promptly notify
the Borrower Representative and the Banks of any change in the Applicable Percentage. Such determinations by the Administrative Agent shall be conclusive absent manifest error. Adjustments in the Applicable Percentage shall be effective as to
existing Extensions of Credit as well as new Extensions of Credit made thereafter. 
  
 “Approved Fund” means any Fund that is administered or managed by (a) a Bank, (b) an Affiliate of a Bank or (c) an entity or an Affiliate of an entity that administers or manages a Bank. 

 
 “Arranger” means Banc of America Securities LLC
and Wachovia Capital Markets, LLC in their capacities as co-lead arrangers and co-book managers. 
  
 “Asset Disposition” shall mean and include the sale, lease or other disposition (or the entering into a contract or other agreement that,
upon consummation, will result in the sale, lease or other disposition) of any Property by any member of the Consolidated Group (including the Capital Stock of a Subsidiary) other than (A) the sale or other disposition of inventory in the ordinary
course of business, (B) the sale, lease or other disposition of machinery, equipment and other assets no longer used or useful in the conduct of such member’s business and (C) the sale or financing of Receivables and Receivables Related Assets
pursuant to the terms of a Qualified Receivables Transaction permitted hereunder. 
  
 “Attorney Costs” means and includes all fees, expenses and disbursements of any law firm or other external counsel. 
  
 “Bank of America” means Bank of America, N.A. and its successors. 
  
 “Bankruptcy Code” means the Bankruptcy Code in Title 11 of
the United States Code, as amended, modified, succeeded or replaced from time to time. 
  

 3 

 “Bankruptcy Event” means, with respect to any Person, the occurrence of any of the
following with respect to such Person: (i) a court or governmental agency having jurisdiction in the premises shall enter a decree or order for relief in respect of such Person in an involuntary case under any applicable bankruptcy, insolvency or
other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of such Person or for any substantial part of its Property or ordering the winding up or liquidation
of its affairs; or (ii) there shall be commenced against such Person an involuntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or any case, proceeding or other action for the appointment of a
receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of such Person or for any substantial part of its Property or for the winding up or liquidation of its affairs, and such involuntary case or other case,
proceeding or other action shall remain undismissed, undischarged or unbonded for a period of sixty consecutive days; or (iii) such Person shall commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or
hereafter in effect, or consent to the entry of an order for relief in an involuntary case under any such law, or consent to the appointment or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar
official) of such Person or for any substantial part of its Property or make any general assignment for the benefit of creditors; or (iv) such Person shall be unable to, or shall admit in writing its inability to, pay its debts generally as they
become due. 
  
 “Banks” means each Person
identified as a “Bank” on the signature pages hereto and its successors and assigns. 
  
 “Base Rate” means for any day a fluctuating rate per annum equal to the higher of (a) the Federal Funds Rate plus 1/2 of 1% or (b) the
Prime Rate. 
  
 “Base Rate Loan” means a Loan
that bears interest at a rate based on the Base Rate. 
  
 “Borrower Representative” shall have the meaning set forth in Section 2.9. 
  
 “Borrowers” means Owens & Minor Distribution, Inc., a Virginia corporation, and Owens & Minor Medical, Inc., a Virginia
corporation, as identified in the heading hereof, together with any permitted successors and assigns. 
  
 “Borrowing Base” means, at any time, the sum of 85% of Eligible Receivables plus 50% of Eligible Inventory, in each case as set
forth in the most recent Borrowing Base Certificate delivered to the Administrative Agent and the Banks in accordance with the terms of Section 7.1(c). 
  
 “Borrowing Base Certificate” has the meaning set forth in Section 7.1(c). 
  
 “Business Day” means any day other than a Saturday, a Sunday or any other day on which banking institutions
are required or authorized by law to close in Richmond, Virginia, Charlotte, North Carolina or New York, New York; except that in the case of Eurodollar Loans, such day is also a day on which dealings between banks are carried on in Dollar deposits
in the London interbank market. 
  
 “Capital
Lease” means any lease the payments and obligations with respect to which would be required to be capitalized in accordance with GAAP. 
  
 “Capital Stock” means (i) in the case of a corporation, capital stock, (ii) in the case of an association or business entity, any and all
shares, interests, participations, rights or other equivalents (however designated) of capital stock, (iii) in the case of a partnership, partnership interests (whether general or limited), (iv) in the case of a limited liability company, membership
interests and (v) any other 

  

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interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing
Person. 
  
 “Cash Equivalents” means (i)
securities issued or directly and fully guaranteed or insured by the United States of America or any agency or instrumentality thereof (provided that the full faith and credit of the United States of America is pledged in support thereof) having
maturities of not more than twelve months from the date of acquisition, (ii) U.S. dollar denominated (or foreign currency fully hedged) time deposits, certificates of deposit, Eurodollar time deposits and Eurodollar certificates of deposit of (y)
any domestic commercial bank of recognized standing having capital and surplus in excess of $500,000,000 or (z) any bank whose short-term commercial paper rating from S&P is at least A-1 or the equivalent thereof or from Moody’s is at least
P-1 or the equivalent thereof (any such bank being an “Approved Bank”), in each case with maturities of not more than 270 days from the date of acquisition, (iii) commercial paper and variable or fixed rate notes issued by any
Approved Bank (or by the parent company thereof) or any variable rate notes issued by, or guaranteed by, any domestic corporation rated A-1 (or the equivalent thereof) or better by S&P or P-1 (or the equivalent thereof) or better by Moody’s
and maturing within six months of the date of acquisition and (iv) repurchase agreements with a bank or trust company (including a Bank) or a recognized securities dealer having capital and surplus in excess of $500,000,000 for direct obligations
issued by or fully guaranteed by the United States of America in which the Borrowers shall have a perfected first priority security interest (subject to no other Liens) and having, on the date of purchase thereof, a fair market value of at least
100% of the amount of the repurchase obligations. 
  
 “Change of Control” means (i) any Person or two or more Persons acting in concert shall have acquired beneficial ownership, directly or indirectly, of Voting Stock of the Parent (or other securities convertible into such
Voting Stock) representing 35% or more of the combined voting power of all Voting Stock of the Parent, (ii) during any period of up to 24 consecutive months, commencing after the Closing Date, individuals who at the beginning of such 24 month period
were directors of the Parent cease to constitute a majority of the board of directors of the Parent and such event is a result (directly or indirectly) of the acquisition of 5% or more of the combined voting power of the Voting Stock by a Person or
Persons who did not own at least 5% or more of the combined voting power of the Voting Stock as of the Closing Date, (iii) any Person or two or more Persons acting in concert shall have acquired by contract or otherwise, or shall have entered into a
contract or arrangement that, upon consummation, will result in its or their acquisition of, control over Voting Stock of the Parent (or other securities convertible into such securities) representing 35% or more of the combined voting power of all
Voting Stock of the Parent. As used herein, “beneficial ownership” shall have the meaning provided in Rule 13d-3 of the Securities and Exchange Commission under the Securities and Exchange Act of 1934 or (iv) the Parent shall fail
to own (directly or indirectly) 100% of the Capital Stock of each of the Borrowers. 
  
 “Closing Date” means the date hereof. 
  
 “Commitments” means the Revolving Commitments, the Swingline Commitment and the LOC Commitment. 
  
 “Commitment Fee” shall have the meaning assigned to such term in Section 3.5(a). 
  
 “Commitment Period” means the period from and including the
Closing Date to but not including the earlier of (i) the Termination Date, or (ii) the date on which the Commitments shall terminate in accordance with the provisions of this Credit Agreement. 
  
 “Consolidated Capital Expenditures” means for any period for
the Consolidated Group on a consolidated basis, all payments for property, plant, equipment or software development and other capital 

  

 5 

 
expenditures of the Consolidated Group that are (or would be) set forth in a consolidated statement of cash flows of the Parent for such period prepared in
accordance with GAAP; provided, however, that Consolidated Capital Expenditures shall not include Acquisitions. 
  
 “Consolidated EBITDA” means, for any period, the sum of (a) Consolidated Net Income for such period plus (b) to the extent
deducted in determining net income for such period, (i) Consolidated Interest Expense, (ii) taxes, and (iii) depreciation and amortization, in each case for the members of the Consolidated Group on a consolidated basis as determined in accordance
with GAAP. 
  
 “Consolidated Fixed Charge Coverage
Ratio” means, as of the end of any fiscal quarter of the Parent, the ratio of Consolidated Net Income Available for Fixed Charges for the period of four consecutive fiscal quarters ending on such date to Consolidated Fixed Charges for the
period of four consecutive fiscal quarters ending on such date. 
  
 “Consolidated Fixed Charges” means, for any period, without duplication, the sum of (i) all Consolidated Interest Expense during such period, (ii) all Consolidated Rent Expense payable during such period, (iii) current
maturities of Funded Debt during such period, and (iv) all dividends and other payments or distributions on the Capital Stock of a member of the Consolidated Group (other than (A) dividends or distributions payable in the same class of Capital Stock
of such member of the Consolidated Group and (B) payments described in clauses (ii) and (iii) of the definition of “Restricted Payments”), in each case for the members of the Consolidated Group on a consolidated basis determined in
accordance with GAAP. 
  
 “Consolidated Group”
means the Parent and its Subsidiaries. 
  
 “Consolidated
Interest Expense” means, for any period, all interest expense, including the amortization of debt discount and premium, the interest component under Capital Leases and the implied interest component under Securitization Transactions
(including, without limitation, the discount in connection with the sale of Receivables and Receivables Related Assets in connection with a Qualified Securitization Transaction), in each case for the members of the Consolidated Group on a
consolidated basis determined in accordance with GAAP. For purposes hereof, Consolidated Interest Expense shall include distributions paid on the Preferred Securities (but without duplication for interest payable under the Junior Subordinated
Debentures). 
  
 “Consolidated Net Income” means,
for any period, the net income (or loss) of the members of the Consolidated Group on a consolidated basis determined in accordance with GAAP, but excluding for purposes of determining compliance with the Consolidated Fixed Charge Coverage Ratio, the
Consolidated Senior Leverage Ratio and the Consolidated Total Leverage Ratio: 
  
 (a) any extraordinary gains or losses and any taxes on such excluded gains and any tax deductions or credits on account of any such excluded losses; 
  
 (b) net earnings of any business entity (other than a Subsidiary) in which any member of the Consolidated Group has an
ownership interest unless such net earnings shall have actually been received by such member of the Consolidated Group in the form of cash distributions; and 
  
 (c) any portion of the net earnings of any Subsidiary which for any reason is unavailable for payment of dividends to the members of the Consolidated
Group. 
  

 6 

 “Consolidated Net Income Available for Fixed Charges” means, for any period, the sum of
(a) Consolidated EBITDA for such period plus (b) Consolidated Rent Expense for such period minus (v) Consolidated Capital Expenditures for such period. 
  
 “Consolidated Net Worth” means total stockholders’ equity for the members of the Consolidated Group on
a consolidated basis as determined in accordance with GAAP (excluding, for purposes hereof, “accumulated other comprehensive income” as such term is defined in Financial Accounting Standards Board Statement 130). 
  
 “Consolidated Rent Expense” means, for any period, all fixed
payments (including as such all payments which the lessee is obligated to make to the lessor on termination of the lease or surrender of the leased property) payable by any member of the Consolidated Group, as lessee or sublessee under a lease of
real or personal property, determined on a consolidated basis in accordance with GAAP, but shall be exclusive of (a) any amounts required to be paid by such Person (whether designated as rents or additional rents) on account of maintenance, repairs,
insurance, taxes and similar charges, determined on a consolidated basis in accordance with GAAP, and (b) any amounts payable by a member of the Consolidated Group to another member of the Consolidated Group. Fixed rents under any so-called
“percentage leases” shall be computed solely on the basis of the minimum rents, if any, required to be paid by the lessee regardless of sales volume or gross revenues. 
  
 “Consolidated Senior Debt” means, as of any date, Consolidated Total Debt less Subordinated Debt of the
members of the Consolidated Group on a consolidated basis determined in accordance with GAAP. 
  
 “Consolidated Senior Leverage Ratio” means, as of the end of any fiscal quarter of the Parent, the ratio of Consolidated Senior Debt on such date to Consolidated EBITDA for the period of four
consecutive fiscal quarters ending on such date. 
  
 “Consolidated Total Assets” means, as of any date, the sum of (a) all items which would be classified as assets of the members of the Consolidated Group on a consolidated basis determined in accordance with GAAP and (b) to
the extent not included in the foregoing clause (a), the aggregate net book value of all Receivables transferred to a Securitization Subsidiary or other Person in connection with a Qualified Securitization Transaction. 
  
 “Consolidated Total Debt” means, as of any date, all Funded
Debt of the members of the Consolidated Group on a consolidated basis determined in accordance with GAAP. 
  
 “Consolidated Total Leverage Ratio” means, as of the end of any fiscal quarter of the Parent, the ratio of Consolidated Total Debt on
such date to Consolidated EBITDA for the period of four consecutive fiscal quarters ending on such date. 
  
 “Credit Documents” means this Credit Agreement, the Notes, any Joinder Agreement, the Administrative Agent’s Fee Letter and all
other related agreements and documents issued or delivered hereunder or thereunder or pursuant hereto or thereto (in each case as the same may be amended, modified, restated, supplemented, extended, renewed or replaced from time to time).

  
 “Credit Party” means any of the Borrowers and
the Guarantors. 
  
 “Default” means any event,
act or condition which with notice or lapse of time, or both, would constitute an Event of Default. 
  

 7 

 “Defaulting Bank” means, at any time, any Bank that, at such time, (i) has failed to
make a Loan or purchase a Participation Interest required pursuant to the terms of this Credit Agreement, (ii) has failed to pay by the date when due to the Administrative Agent or any Bank an amount owed by such Bank pursuant to the terms of the
Credit Agreement or any other of the Credit Documents, or (iii) has been deemed insolvent or has become subject to a bankruptcy or insolvency proceeding or with respect to which (or with respect to any of the Property of which) a receiver, trustee
or similar official has been appointed. 
  
 “Dollars
“ and “$” means dollars in lawful currency of the United States of America. 
  
 “Domestic Credit Party” means any Credit Party that is incorporated or organized under the laws of any State of the United States or the
District of Columbia. 
  
 “Domestic Person” means
any Person that is incorporated or organized under the laws of any State of the United States or the District of Columbia. 
  
 “Domestic Property” means any Property that is located within the United States of America. 
  
 “Domestic Subsidiary” means any Subsidiary that is
incorporated or organized under the laws of any State of the United States or the District of Columbia. 
  
 “Eligible Assignee” means (a) a Bank; (b) an Affiliate of a Bank (other than an Affiliate which is a Non-U.S. Person); (c) an Approved
Fund (other than an Approved Fund which is a Non-U.S. Person); and (d) any other Person (other than a natural Person) approved by the Administrative Agent and, unless an Event of Default has occurred and is continuing at the time of the assignment,
the Borrower Representative (such approval by the Borrower Representative and the Administrative Agent not to be unreasonably withheld or delayed and such approval to be deemed given by the Borrower Representative if no objection is received by the
Administrative Agent from the Borrower Representative within two Business Days after notice of the proposed assignment has been provided by the Administrative Agent to the Borrower), provided, however, that neither the Borrower
Representative nor any Affiliate of the Borrower Representative shall qualify as an Eligible Assignee. The parties hereto agree that it is reasonable for the Borrower Representative to withhold its approval of an assignment to (i) a Person that
cannot make any of the representations and warranties set forth in Section 11.15 or (ii) a Non-U.S. Person if such Non-U.S. Person does not provide to the Borrower Representative certification as to complete exemption from deduction or withholding
of Taxes in accordance with Section 3.11 (and the approval of the Borrower Representative shall not be deemed given by the Borrower Representative to an assignment to a Non-U.S. Person if such Non-U.S. Person does not provide to the Borrower
Representative certification as to complete exemption from deduction or withholding of Taxes in accordance with Section 3.11). 
  
 “Eligible Inventory” means, as of any date of determination, the aggregate book value (based on a FIFO valuation) of all inventory of the
Parent and its Domestic Subsidiaries on a consolidated basis after deducting allowances or reserves relating thereto, as shown on the books and records of the Parent and its Domestic Subsidiaries. 
  
 “Eligible Receivables” means, as of any date of
determination, the aggregate net book value of all accounts, accounts receivable, receivables, and obligations for payment created or arising from the sale of inventory or the rendering of services in the ordinary course of business, whether
evidenced by chattel paper, instruments or otherwise (“Receivables”), owned by or owing to the Parent and its Domestic Subsidiaries on a consolidated basis after deducting allowances or reserves relating thereto, as shown on the
books and records of Parent and its Domestic Subsidiaries (but excluding, in any event, without 

  

 8 

 
duplication, the aggregate net book value of all Receivables transferred to a Securitization Subsidiary or other Person in connection with a Qualified
Securitization Transaction). 
  
 “Environmental
Laws” means any and all Federal, state, local, and foreign statutes, laws, regulations, ordinances, rules, judgments, orders, decrees or other governmental restrictions relating to pollution and the protection of the environment or the
release of any materials into the environment, including those related to hazardous substances or wastes, air emissions and discharges to waste or public systems. 
  
 “Equity Transaction” means, with respect to any member of the Consolidated Group, any issuance or sale of
shares of its Capital Stock, other than (i) an issuance in connection with a conversion of debt securities to equity, (ii) an issuance in connection with exercise by a present or former employee, officer or director under a stock incentive plan,
stock option plan or other equity-based compensation plan or arrangement and (iii) an issuance of the Capital Stock of the Parent in connection with an Acquisition permitted hereunder. 
  
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended, and any successor statute
thereto, as interpreted by the rules and regulations thereunder, all as the same may be in effect from time to time. References to sections of ERISA shall be construed also to refer to any successor sections. 
  
 “ERISA Affiliate” means an entity which is under common control with the
Parent within the meaning of Section 4001(a)(14) of ERISA, or is a member of a group which includes the Parent and which is treated as a single employer under Sections 414(b) or (c) of the Internal Revenue Code. 
  
 “ERISA Event” means (i) with respect to any Plan, the
occurrence of a Reportable Event or the substantial cessation of operations (within the meaning of Section 4062(e) of ERISA); (ii) the withdrawal by the Parent or any ERISA Affiliate from a Multiple Employer Plan during a plan year in which it was a
substantial employer (as such term is defined in Section 4001(a)(2) of ERISA), or the termination of a Multiple Employer Plan; (iii) the distribution of a notice of intent to terminate or the actual termination of a Plan pursuant to Section
4041(a)(2) or 4041A of ERISA; (iv) the institution of proceedings to terminate or the actual termination of a Plan by the PBGC under Section 4042 of ERISA; (v) any event or condition which could reasonably be expected to constitute grounds under
Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan; (vi) the complete or partial withdrawal of the Parent or any ERISA Affiliate from a Multiemployer Plan; (vii) the conditions for imposition of a
lien under Section 302(f) of ERISA against the Parent or any ERISA Affiliate exist with respect to any Plan; or (viii) the adoption of an amendment to any Plan requiring the provision of security to such Plan pursuant to Section 307 of ERISA.

  
 “Eurodollar Loan” means a Loan that bears
interest at a rate based on the Eurodollar Rate. 
  
 “Eurodollar Rate” means, for any Eurodollar Loan for any Interest Period therefor, the rate per annum (rounded upwards, if necessary, to the nearest 1/100 of 1%) determined by the Administrative Agent to be equal to the
quotient obtained by dividing (a) the Interbank Offered Rate for such Eurodollar Loan for such Interest Period by (b) 1 minus the Eurodollar Reserve Requirement for such Eurodollar Loan for such Interest Period. 
  
 “Eurodollar Reserve Requirement” means, at any time, the
maximum rate at which reserves (including, without limitation, any marginal, special, supplemental, or emergency reserves) are required to be maintained under regulations issued from time to time by the Board of Governors of the Federal Reserve
System (or any successor) by member banks of the Federal Reserve System against “Eurocurrency liabilities” 

  

 9 

 
(as such term is used in Regulation D). Without limiting the effect of the foregoing, the Eurodollar Reserve Requirement shall reflect any other reserves
required to be maintained by such member banks with respect to (i) any category of liabilities which includes deposits by reference to which the Eurodollar Rate is to be determined, or (ii) any category of extensions of credit or other assets which
include Eurodollar Loans. The Eurodollar Rate shall be adjusted automatically on and as of the effective date of any change in the Eurodollar Reserve Requirement. 
  
 “Event of Default” shall have the meaning assigned to such term in Section 9.1. 
  
 “Existing Credit Agreement” shall have the meaning set forth
in the recitals hereof. 
  
 “Existing Letters of
Credit” means those certain letters of credit listed on Schedule 1.1(a). 
  
 “Extension of Credit” means, as to any Bank, the making of, or participation in, a Loan by such Bank (including continuations and conversions thereof) or the issuance or extension of, or participation
in, a Letter of Credit by such Bank. 
  
 “Fed Funds
Swingline Loan” means a Swingline Loan that bears interest at a rate based on the Applicable Federal Funds Rate. 
  
 “Federal Funds Rate” means, for any day, the rate per annum equal to the weighted average of the rates on overnight Federal funds
transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank on the Business Day next succeeding such day; provided that (a) if such day is not a Business Day,
the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so published on such next succeeding Business Day, the
Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of America on such day on such transactions as determined by the Administrative Agent. 
  
 “Fees” means all fees payable pursuant to Section 3.5.

  
 “Foreign Person” means any Person that is not
a Domestic Person. 
  
 “Foreign Property” means
any Property that is not a Domestic Property. 
  
 “Fund” means any Person (other than a natural Person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its
business. 
  
 “Funded Debt” means, with respect
to any Person, without duplication, (i) the principal amount of all obligations of such Person for borrowed money, (ii) the principal amount of all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, or upon
which interest payments are customarily made, (iii) the principal amount of all Support Obligations of such Person with respect to Funded Debt of another Person, (iv) the maximum stated amount of all standby letters of credit issued or bankers’
acceptances facilities created for the account of such Person and, without duplication, all drafts drawn thereunder to the extent unreimbursed (other than letters of credit (A) supporting other Indebtedness of such Person or (B) offset by a like
amount of cash or government securities pledged or held in escrow to secure such letter of credit and draws thereunder), (v) the principal amount of all purchase money Indebtedness (including for purposes hereof, indebtedness and obligations in
respect of conditional sale or title retention arrangements described in clause (j) of the definition of “Indebtedness” and obligations in 

  

 10 

 
respect of the deferred purchase price of property or services described in clause (c) of the definition of “Indebtedness”) of such Person,
including without limitation the principal portion of all obligations of such Person under Capital Leases, (vi) the principal amount of all Funded Debt of another Person secured by a Lien on any Property of such Person, whether or not such Funded
Debt has been assumed, provided that for purposes hereof the amount of such Funded Debt shall be limited to the amount of such Funded Debt as to which there is recourse to such Person or the fair market value of the property which is subject
to the Lien, if less, (vii) the aggregate net amount of Indebtedness or obligations relating to the sale, contribution or other conveyance of accounts receivable (or similar transaction) (exclusive of intercompany obligations owing between the
Securitization Subsidiary and a Credit Party pursuant to a Qualified Securitization Transaction permitted hereunder) regardless of whether such transaction is effected without recourse or in a manner which would not be reflected on a balance sheet
in accordance with GAAP, (viii) the principal balance outstanding under any synthetic lease, tax retention operating lease, off-balance sheet loan or similar off-balance sheet financing product where such transaction is considered borrowed money
indebtedness for tax purposes but is classified as an operating lease under GAAP, and (ix) the maximum amount of all contingent obligations (including, without limitation, obligations to make earn-out payments) of such Person incurred in connection
with Acquisitions permitted under Section 8.4 and Acquisitions consummated prior to the Closing Date. The Funded Debt of any Person shall include the Funded Debt of any partnership or joint venture in which such Person is a general partner or joint
venturer, but only to the extent to which there is recourse to such Person for the payment of such Funded Debt. For purposes hereof, Funded Debt shall also include payments in respect of Funded Debt which constitute current liabilities of the
obligor under GAAP. 
  
 “GAAP” means
generally accepted accounting principles in the United States applied on a consistent basis and subject to the terms of Section 1.3. 
  
 “Government Acts” has the meaning set forth in Section 2.6(h). 
  
 “Governmental Authority” means any federal, state, local or foreign court or governmental agency,
authority, instrumentality or regulatory body. 
  
 “Guarantor” means, the Parent and each Domestic Subsidiary of the Parent identified as a “Guarantor” on the signature pages hereto and each Additional Credit Party, together with their successors and permitted
assigns. 
  
 “Hedging Agreements” means any
interest rate protection agreement or foreign currency exchange agreement. 
  
 “Indebtedness” means, with respect 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, or upon which interest payments are customarily made, (c) all obligations of such Person issued or assumed as the deferred purchase price of Property or services purchased by such Person which would appear as liabilities on a
balance sheet of such Person in accordance with GAAP, (d) all Support Obligations of such Person with respect to Indebtedness of another Person, (e) the maximum stated amount of all standby letters of credit issued or bankers’ acceptances
facilities created for the account of such Person and, without duplication, all drafts drawn thereunder to the extent unreimbursed (other than letters of credit (i) supporting other Indebtedness of such Person or (ii) offset by a like amount of cash
or government securities pledged or held in escrow to secure such letter of credit and draws thereunder), (f) the principal portion of all obligations of such Person under Capital Leases, (g) all Indebtedness of another Person secured by (or for
which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on, or payable out of the proceeds of production from, Property owned or acquired by such Person, whether or not the obligations secured
thereby have been assumed, provided that for purposes hereof 

  

 11 

 
the amount of such Indebtedness shall be limited to the amount of such Indebtedness as to which there is recourse to such Person or the fair market value of
the Property which is subject to the Lien, if less, (h) all obligations of such Person under take-or-pay or similar arrangements or under commodities agreements, (i) all obligations of such Person under interest rate protection agreements and
foreign currency exchange agreements (including, without limitation, Hedging Agreements), (j) all obligations of such Person under conditional sale or other title retention agreements relating to Property purchased by such Person (other than
customary reservations or retentions of title under agreements with suppliers entered into in the ordinary course of business), (k) all preferred stock issued by such Person and which by the terms thereof could be (at the request of the holders
thereof or otherwise) subject to mandatory sinking fund payments, redemption or other acceleration at any time prior to the Termination Date, (l) the aggregate net amount of Indebtedness or obligations relating to the sale, contribution or other
conveyance of accounts receivable (or similar transaction) (exclusive of intercompany obligations owing between the Securitization Subsidiary and a Credit Party pursuant to a Qualified Securitization Transaction permitted hereunder) regardless of
whether such transaction is effected without recourse or in a manner which would not be reflected on a balance sheet in accordance with GAAP, (m) the principal portion of all obligations of such Person under any synthetic lease, tax retention
operating lease, off-balance sheet loan or similar off-balance sheet financing product where such transaction is considered borrowed money indebtedness for tax purposes but is classified as an operating lease under GAAP, (n) the Indebtedness of any
partnership or unincorporated joint venture in which such Person is a general partner or a joint venturer, but only to the extent to which there is recourse to such Person for the payment of such Indebtedness, and (o) the maximum amount of all
contingent obligations (including, without limitation, obligations to make earn-out payments) of such Person incurred in connection with Acquisitions permitted under Section 8.4 and Acquisitions consummated prior to the Closing Date. For purposes
hereof, Indebtedness shall also include payments in respect of Indebtedness which constitute current liabilities of the obligor under GAAP. The Indebtedness of any Person shall not include (a) trade debt incurred in the ordinary course of business
and due within twelve months of the incurrence thereof, (b) accrued expenses and (c) accrued pension and retirement plan liabilities to the extent such liabilities would not appear as debt on a balance sheet of such Person in accordance with GAAP.

  
 “Indemnitee” has the meaning set forth in
Section 11.5(b). 
  
 “Indemnified Party” has the
meaning set forth in Section 11.5(b). 
  
 “Interbank
Offered Rate” means for any Interest Period with respect to any Eurodollar Loan: 
  
 (a) the rate per annum equal to the rate determined by the Administrative Agent to be the offered rate that appears on the page of the Telerate screen (or any successor thereto) that displays an average British
Bankers Association Interest Settlement Rate for deposits in Dollars (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period, determined as of approximately 11:00 a.m. (London time) two Business Days
prior to the first day of such Interest Period, or 
  
 (b) if the
rate referenced in the preceding clause (a) does not appear on such page or service or such page or service shall not be available, the rate per annum equal to the rate determined by the Administrative Agent to be the offered rate on such other page
or other service that displays an average British Bankers Association Interest Settlement Rate for deposits in Dollars (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period, determined as of
approximately 11:00 a.m. (London time) two Business Days prior to the first day of such Interest Period, or 
  
 (c) if the rates referenced in the preceding clauses (a) and (b) are not available, the rate per annum determined by the Administrative Agent as the rate
of interest at which deposits in Dollars for delivery on the first day of such Interest Period in same day funds in the approximate amount of the 

  

 12 

 
Eurodollar Loan being made, continued or converted by Bank of America and with a term equivalent to such Interest Period would be offered by Bank of
America’s London Branch to major banks in the London interbank eurodollar market at their request at approximately 4:00 p.m. (London time) two Business Days prior to the first day of such Interest Period. 
  
 “Interest Determination Date” shall have the meaning
assigned to such term in the definition of “Applicable Percentage”. 
  
 “Interest Payment Date” means (i) as to Base Rate Loans and Fed Funds Swingline Loans, the third Business Day following the last day of each March, June, September and December and the Termination
Date, and (ii) as to Eurodollar Loans, on the last day of each Interest Period for such Loan, the date of repayment and on the Termination Date, and in addition where the applicable Interest Period is more than 3 months, then also on the date 3
months from the beginning of the Interest Period, and each 3 months thereafter. If an Interest Payment Date falls on a date which is not a Business Day, such Interest Payment Date shall be deemed to be the next succeeding Business Day, except that
in the case of Eurodollar Loans where the next succeeding Business Day falls in the next succeeding calendar month, then on the next preceding Business Day. 
  
 “Interest Period” means, with respect to Eurodollar Loans, a period of one, two, three or six months’ duration, and also as to
Eurodollar Loans of up to $30,000,000, a period of 7-days’ duration (provided that no more than one such Revolving Loan with a 7-day Interest Period may be outstanding at any time), as the Borrower Representative may elect, commencing in
each case on the date of the borrowing (including conversions, extensions and renewals); provided, however, (A) if any Interest Period would end on a day which is not a Business Day, such Interest Period shall be extended to the next
succeeding Business Day (except that where the next succeeding Business Day falls in the next succeeding calendar month, then on the next preceding Business Day), (B) no Interest Period shall extend beyond the Termination Date and (C) where an
Interest Period begins on a day for which there is no numerically corresponding day in the calendar month in which the Interest Period is to end, such Interest Period shall end on the last day of such calendar month. 
  
 “Internal Revenue Code” means the Internal Revenue Code of
1986, as amended, and any successor statute thereto, as interpreted by the rules and regulations issued thereunder, in each case as in effect from time to time. References to sections of the Internal Revenue Code shall be construed also to refer to
any successor sections. 
  
 “Investment” in any
Person means (a) the acquisition (whether for cash, property, services, assumption of Indebtedness, securities or otherwise) of Capital Stock, bonds, notes, debentures, partnership, joint ventures or other ownership interests or other securities of
such other Person, (b) any deposit with, or advance, loan or other extension of credit to, such Person (other than deposits made in connection with the purchase of equipment or other assets in the ordinary course of business) or (c) any other
capital contribution to or investment in such Person, including, without limitation, any Support Obligations (including any support for a letter of credit issued on behalf of such Person) incurred for the benefit of such Person, but excluding any
Restricted Payment to such Person. 
  
 “Issuing
Bank” means Bank of America and its successors in such capacity. 
  
 “Joinder Agreement” means a Joinder Agreement substantially in the form of Schedule 7.11 executed and delivered by an Additional Credit Party in accordance with the provisions of Section 7.11.

  

 13 

 “Junior Subordinated Debentures” means the junior subordinated convertible deferrable
interest debentures issued by the Borrower pursuant to that Junior Subordinated Indenture dated May 13, 1998, the interest payments on which are used to make cash distributions on Preferred Securities. 
  
 “Letter of Credit” means any standby letter of credit issued
by the Issuing Bank for the account of the Borrowers in accordance with the terms of Section 2.1(c) and shall include the Existing Letters of Credit. 
  
 “Letter of Credit Application” means an application and agreement for the issuance or amendment of a Letter of Credit in the form from
time to time in use by the L/C Issuer. 
  
 “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, security interest, encumbrance, lien (statutory or otherwise), preference or priority or charge of any kind (including any agreement to give
any of the foregoing, any conditional sale or other title retention agreement, any financing or similar statement or notice filed under the Uniform Commercial Code as adopted and in effect in the relevant jurisdiction or other similar recording or
notice statute, and any lease in the nature thereof) securing or purporting to secure any Indebtedness. 
  
 “Loans” means the Revolving Loans and the Swingline Loans, and the Base Rate Loans, Eurodollar Loans and Fed Funds Swingline Loans
comprising such Loans. 
  
 “LOC Commitment”
means, with respect to the Issuing Bank, the commitment of the Issuing Bank to issue Letters of Credit in an aggregate face amount at any time outstanding (together with the amounts of any unreimbursed drawings thereon) of up to the LOC Committed
Amount and, with respect to the Banks, the commitment of each Bank to purchase participation interests in the LOC Obligations up to its Revolving Commitment Percentage of the LOC Committed Amount as provided in Section 2.6(b). 
  
 “LOC Committed Amount” shall have the meaning assigned to
such term in Section 2.1(c). 
  
 “LOC Documents”
means, with respect to any Letter of Credit, such Letter of Credit, any amendments thereto, any documents delivered in connection therewith, any application therefor, and any agreements, instruments, guarantees or other documents (whether general in
application or applicable only to such Letter of Credit) governing or providing for (i) the rights and obligations of the parties concerned or at risk or (ii) any collateral security for such obligations. 
  
 “LOC Obligations” means, at any time, the sum of (i) the
maximum amount which is, or at any time thereafter may become, available to be drawn under Letters of Credit then outstanding, assuming compliance with all requirements for drawings referred to in such Letters of Credit plus (ii) the
aggregate amount of all drawings under Letters of Credit honored by the Issuing Bank but not theretofore reimbursed by the Borrowers or the Parent. 
  
 “Material Adverse Effect” means a material adverse effect on (i) the operations or financial condition of the members of the Consolidated
Group, taken as a whole, (ii) the ability of the Borrowers or any Material Guarantor to perform their respective obligations under the Credit Documents, (iii) the validity or enforceability of any Credit Document or (iv) the rights and remedies of
the Banks under the Credit Documents. 
  
 “Material
Guarantor” means (a) the Parent and (b) any Guarantor that, individually, (i) accounts for more than five percent (5%) of the gross revenues of the members of the Consolidated Group on a consolidated basis determined in accordance with
GAAP, (ii) accounts for more than five percent (5%) of net income of the members of the Consolidated Group on a consolidated basis determined in accordance with GAAP, or (iii) constitutes more than five percent (5%) of Consolidated Total Assets.

  

 14 

 “Materials of Environmental Concern” means any gasoline or petroleum (including crude
oil or any fraction thereof) or petroleum products or any hazardous or toxic substances, materials or wastes, defined or regulated as such in or under any Environmental Laws, including, without limitation, asbestos, polychlorinated biphenyls and
urea-formaldehyde insulation. 
  
 “Moody’s”
means Moody’s Investors Service, Inc., or any successor or assignee of the business of such company in the business of rating securities. 
  
 “Multiemployer Plan” means a Plan which is a “multiemployer plan” as defined in Section 3(37) or 4001(a)(3) of ERISA.

  
 “Multiple Employer Plan” means a Plan (other
than a Multiemployer Plan) which the Parent or any ERISA Affiliate and at least one employer other than the Parent or any ERISA Affiliate are contributing sponsors. 
  
 “Non-Guarantor Subsidiaries” means Domestic Subsidiaries which are not Guarantors (other than any
Securitization Subsidiary). 
  
 “Non-U.S. Person”
means any Person that is not a United States person within the meaning of Section 7701(a)(30) of the Internal Revenue Code. 
  
 “Note” or “Notes” means the Revolving Notes, individually or collectively, as appropriate. 
  
 “Notice of Revolving Loan Borrowing” shall have the meaning
assigned to such term in Section 2.2(a)(i). 
  
 “Notice of
Conversion” shall have the meaning assigned to such term in Section 3.2. 
  
 “Notice of Request of Letter of Credit” shall have the meaning assigned to such term in Section 2.2(a)(iii). 
  
 “Notice of Swingline Loan Borrowing” shall have the meaning assigned to such term in Section 2.2(a)(ii). 
  
 “Obligations” means, without duplication, (i) all of the
obligations of the Credit Parties to the Banks (including the Issuing Bank) and the Administrative Agent, whenever arising, under this Credit Agreement, the Notes or any of the other Credit Documents (including, but not limited to, any interest
accruing after the occurrence of a Bankruptcy Event with respect to any Credit Party, regardless of whether such interest is an allowed claim under the Bankruptcy Code) and (ii) all liabilities and obligations, whenever arising, owing from the
Credit Parties to any Bank, or any affiliate of a Bank, arising under any Hedging Agreement. 
  
 “O&M Funding Corp” means O&M Funding Corp., a Virginia corporation. 
  
 “Parent” means Owens & Minor, Inc., a Virginia corporation, together with any permitted successors and assigns. 
  
 “PBGC” means the Pension Benefit Guaranty Corporation
established pursuant to Subtitle A of Title IV of ERISA and any successor thereof. 
  

 15 

 “Participation Interest” means the purchase by a Bank of a participation in LOC
Obligations as provided in Section 2.6(b), in Swingline Loans as provided in Section 2.7 and in Loans as provided in Section 3.14. 
  
 “Permitted Investments” means Investments which are (i) cash and Cash Equivalents; (ii) receivables owing to any member of the
Consolidated Group created, acquired or made in the ordinary course of business and payable or dischargeable in accordance with customary trade terms; (iii) Investments by members of the Consolidated Group in and to Domestic Credit Parties; (iv)
Acquisitions permitted under Section 8.4(b)(ii); (v) loans and advances in the ordinary course of business to officers, directors and employees for expenses (including moving expenses related to a transfer) incidental to carrying on the business of
the members of the Consolidated Group in an aggregate amount not to exceed $3,000,000 at any time outstanding; (vi) Investments (including debt obligations) received in settlement of accounts receivable (created in the ordinary course of business)
from bankrupt obligors and in settlement of delinquent obligations of, and other disputes with, customers and suppliers arising in the ordinary course of business; (vii) investments in a Securitization Subsidiary or Special Purpose Vehicle relating
to a Qualified Securitization Transaction and (viii) Investments of a nature not contemplated in the foregoing subsections in an amount not to exceed $15,000,000 in the aggregate at any time outstanding. 
  
 “Permitted Liens” means: 
  
 (i) Liens created by or arising under the Credit Documents
in favor of the Administrative Agent on behalf of the Banks; 
  
 (ii) Liens (other than Liens created or imposed under ERISA) for taxes, assessments or governmental charges or levies not yet due or Liens for taxes being contested in good faith by appropriate proceedings for which
adequate reserves determined in accordance with GAAP have been established (and as to which the Property subject to any such Lien is not yet subject to foreclosure, sale or loss on account thereof); 
  
 (iii) statutory Liens of landlords and Liens of carriers,
warehousemen, mechanics, materialmen and suppliers and other Liens imposed by law or pursuant to customary reservations or retentions of title arising in the ordinary course of business, provided that such Liens secure only amounts not yet
due and payable or, if due and payable, are unfiled and no other action has been taken to enforce the same or are being contested in good faith by appropriate proceedings for which adequate reserves determined in accordance with GAAP have been
established (and as to which the Property subject to any such Lien is not yet subject to foreclosure, sale or loss on account thereof); 
  
 (iv) Liens (other than Liens created or imposed under ERISA) incurred or deposits made by any member of the Consolidated Group in the
ordinary course of business in connection with workers’ compensation, unemployment insurance and other types of social security, or to secure the performance of tenders, statutory obligations, bids, leases, government contracts, performance and
return-of-money bonds and other similar obligations (exclusive of obligations for the payment of borrowed money); 
  
 (v) Liens in connection with attachments or judgments (including judgment or appeal bonds) provided that the judgments secured shall,
within 30 days after the entry thereof, have been discharged or execution thereof stayed pending appeal, or shall have been discharged within 30 days after the expiration of any such stay; 
  

 16 

 (vi) easements, rights-of-way, restrictions (including zoning restrictions), minor
defects or irregularities in title and other similar charges or encumbrances not, in any material respect, impairing the use of the encumbered Property for its intended purposes; 
  
 (vii) Liens on Property of any Person securing Indebtedness (including Capital Leases and Synthetic Leases)
of a Credit Party to the extent permitted under Section 8.1(c); 
  
 (viii) leases or subleases granted to others not interfering in any material respect with the business of any member of the Consolidated Group; 
  
 (ix) any interest or title of a lessor under, and Liens arising from UCC financing statements (or equivalent
filings, registrations or agreements in foreign jurisdictions) relating to, leases permitted by this Credit Agreement; 
  
 (x) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection with
the importation of goods; 
  
 (xi) Liens deemed
to exist in connection with Investments in repurchase agreements which constitute Permitted Investments; 
  
 (xii) normal and customary rights of setoff upon deposits of cash in favor of banks or other depository institutions; 
  
 (xiii) Liens created or deemed to exist in connection with a
Qualified Securitization Transaction permitted under this Credit Agreement (including any related filings of any financing statements), but only to the extent that any such Lien relates to the applicable Receivables Related Assets actually sold,
contributed, financed or otherwise conveyed or pledged pursuant to such transaction; 
  
 (xiv) Liens of a collection bank arising under Section 4-210 of the Uniform Commercial Code on items in the course of collection;

  
 (xv) Liens existing as of the Closing Date
and set forth on Schedule 8.2; provided that no such Lien shall at any time (A) be extended to or cover any Property other than the Property subject thereto on the Closing Date and (B) secure any Indebtedness other than the
Indebtedness secured thereby on the Closing Date; and 
  
 (xvi) Liens on Property securing Indebtedness of a Credit Party to the extent permitted under Section 8.1(j). 
  
 “Person” means any individual, partnership, joint venture, firm, corporation, limited liability company, association, trust or other
enterprise (whether or not incorporated) or any Governmental Authority. 
  
 “Plan” means any employee pension benefit plan (as defined in Section 3(2) of ERISA) which is subject to Title IV of ERISA and with respect to which the Parent or any ERISA Affiliate is (or, if such plan were terminated at
such time, would under Section 4069 of ERISA be deemed to be) an “employer” within the meaning of Section 3(5) of ERISA. 
  
 “Preferred Securities” means pass-through securities, capital securities or other preferred securities issued by a statutory business
trust or other similar special purpose entity owned or controlled 

  

 17 

 
by any member of the Consolidated Group the proceeds of which are invested in or exchanged for Junior Subordinated Debentures. 
  
 “Prime Rate” means the rate of interest in effect for such
day as publicly announced from time to time by Bank of America as its “prime rate.” The “prime rate” is a rate set by Bank of America based upon various factors including Bank of America’s costs and desired return, general
economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such rate announced by Bank of America shall take effect at the opening of
business on the day specified in the public announcement of such change. 
  
 “Pro Forma Basis” means, for purposes of calculating (utilizing the principles set forth in the second paragraph of Section 1.3) the applicable Pricing Level under the definition of “Applicable
Percentage” and determining compliance with each of the financial covenants set forth in Section 7.10, that any transaction shall be deemed to have occurred as of the first day of the four fiscal-quarter period ending as of the most recent
fiscal quarter end preceding the date of such transaction with respect to which the Administrative Agent has received the annual or quarterly compliance certificate and related financial statements required by Section 7.1(a), (b) or (c), as
appropriate. As used herein, “transaction” shall mean (i) any merger or consolidation as referred to in Section 8.4, (ii) any Asset Disposition as referred to in Section 8.5, (iii) any Acquisition as referred to in Section 8.4, (iv)
any prepayment or redemption of any Senior Subordinated Notes as referred to in Section 8.7 and (v) any Restricted Payment referenced in Section 8.12. In furtherance of the foregoing, in connection with any calculation of the financial covenants set
forth in Section 7.10 upon giving effect to a transaction on a Pro Forma Basis: 
  
 (A) for purposes of any such calculation in respect of any Asset Disposition referred to in Section 8.5, (1) income statement items
(whether positive or negative) attributable to the Property disposed of in such Asset Disposition shall be excluded and (2) any Indebtedness which is retired in connection with such Asset Disposition shall be excluded and deemed to have been retired
as of the first day of the applicable period; 
  
 (B) for purposes of any such calculation in respect of any merger or consolidation referred to in Section 8.4(a) or any Acquisition referred to in Section 8.4(b), (1) any Indebtedness incurred by any member of the Consolidated Group in
connection with such transaction (x) shall be deemed to have been incurred as of the first day of the applicable period and (y) if such Indebtedness has a floating or formula rate, shall have an implied rate of interest for the applicable period for
purposes of this definition determined by utilizing the rate which is or would be in effect with respect to such Indebtedness as at the relevant date of determination, and (2) income statement items (whether positive or negative) attributable to the
Property acquired in such transaction or to the Acquisition comprising such transaction, as applicable, shall be included beginning as of the first day of the applicable period, provided that such income statement items are factually
supportable by financial statements and information reasonably acceptable to the Administrative Agent; and 
  
 (C) for purposes of any calculation of the Consolidated Senior Leverage Ratio in respect of any prepayment or redemption of any Senior
Subordinated Notes referred to in Section 8.7, any Indebtedness incurred by any member of the Consolidated Group in connection with such transaction shall be deemed to have replaced such Subordinated Debt as of the first day of the applicable
period. 
  
 “Pro Forma Compliance
Certificate” means a certificate of the chief financial officer (or its equivalent) of the Parent delivered to the Administrative Agent in connection with (i) any merger or 

  

 18 

 
consolidation referred to in Section 8.4(a), (ii) any Asset Disposition referred to in Section 8.5, (iii) any Acquisition referred to in Section 8.4(b), (iv)
any prepayment or redemption of Senior Subordinated Notes as referred to in Section 8.7 and (v) any Restricted Payment referenced in Section 8.12, as applicable, and containing reasonably detailed calculations, upon giving effect to the applicable
transaction on a Pro Forma Basis, of the Consolidated Fixed Charge Coverage Ratio, the Consolidated Total Leverage Ratio, the Consolidated Senior Leverage Ratio and the Consolidated Net Worth each as of the most recent fiscal quarter end preceding
the date of the applicable transaction with respect to which the Administrative Agent shall have received the annual or quarterly compliance certificate and related financial statements required by Section 7.1(a), (b) or (c), as appropriate.

  
 “Property” means any interest in any kind of
property or assets, whether real, personal or mixed, or tangible or intangible. 
  
 “Qualified Securitization Transaction” means any Securitization Transaction provided that (A) no portion of the Indebtedness or any other obligations (contingent or otherwise) under such
Securitization Transaction shall be (i) recourse to any member of the Consolidated Group other than pursuant to Standard Securitization Obligations, (ii) supported by Support Obligations of any member of the Consolidated Group other than pursuant to
Standard Securitization Obligations, or (iii) secured (directly or indirectly, contingently or otherwise) by any Lien on any Property of any member of the Consolidated Group other than pursuant to Standard Securitization Obligations, (B) the
Administrative Agent and the Required Banks shall be reasonably satisfied with the structure thereof and documentation therefor, including the discount at which such accounts receivable are sold or the advance rate against which borrowings are
advanced and the applicable termination events which shall, in any event, be consistent with those prevailing in the market for similar transactions, and (C) the accounts receivable purchase agreement or other similar agreements relating thereto
shall not be amended or modified in a manner materially adverse to the interests of the Banks (as determined by the Administrative Agent and the Required Banks in their reasonable discretion (including, without limitation, any change in (i) the
amount of Securitization Receivables and Receivables Related Assets covered thereby, (ii) the discount rate at which the Securitization Receivables and Receivables Related Assets are sold, (iii) the advance rate against which amounts are advanced,
and (iv) the applicable termination events)) except with the prior written consent of the Administrative Agent and the Required Banks. Notwithstanding the foregoing, the series of transactions contemplated in the Securitization Agreements, and any
refinancing or replacement thereof on terms and conditions no less favorable to the members of the Consolidated Group than the terms of the Securitization Agreements, are Qualified Securitization Transactions. 
  
 “Receivables” has the meaning set forth in the definition of
“Eligible Receivables”. 
  
 “Receivables Related
Assets” means (i) any rights arising under the documentation governing or relating to any Securitization Receivables (including rights in respect of Liens securing such Securitization Receivables and other credit support in respect of such
Securitization Receivables), (ii) any proceeds of such Securitization Receivables and any lockboxes or accounts in which such proceeds are deposited, (iii) spread accounts and other similar accounts (and any amounts on deposit therein) established
in connection with a Qualified Securitization Transaction, (iv) any warranty, indemnity, dilution and other intercompany claim arising out of the documentation evidencing any Qualified Securitization Transaction, and (v) other assets that are
customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving accounts receivable. 
  
 “Register” shall have the meaning assigned to such term in Section 11.3(c). 
  

 19 

 “Regulation D, T, U, or X” means Regulation D, T, U, or X, respectively, of the Board of
Governors of the Federal Reserve System as from time to time in effect and any successor to all or a portion thereof. 
  
 “Reportable Event” means any of the events set forth in Section 4043(c) of ERISA, other than those events as to which the notice
requirement has been waived by regulation. 
  
 “Required
Banks” means, at any time, Banks having more than fifty percent (50%) of the aggregate Commitments, or if the Commitments have been terminated, Banks having more than fifty percent (50%) of the aggregate principal amount of the Revolving
Obligations outstanding (taking into account in each case Participation Interests or obligation to participate therein); provided that the Commitments of, and outstanding principal amount of Revolving Obligations (taking into account
Participation Interests therein) owing to, a Defaulting Bank shall be excluded for purposes hereof in making a determination of Required Banks. 
  
 “Responsible Officer” means, with respect to the subject matter of any representation, warranty, covenant, agreement, obligation or
certificate of any Credit Party contained in or delivered pursuant to any of the Credit Documents, the Chief Executive Officer, the President, any Executive Vice President, Senior Vice President, Vice President, Chief Financial Officer, Treasurer,
Controller, or any other officer of the Consolidated Group who in the normal performance of his or her operational responsibilities would have knowledge of such matter and the requirements with respect thereto. 
  
 “Restricted Payment” by any Person means (i) any dividend or
other payment or distribution, direct or indirect, on account of any shares of any class of Capital Stock of such Person, now or hereafter outstanding (including without limitation any payment in connection with any dissolution, merger,
consolidation or disposition involving such Person), or to the holders, in their capacity as such, of any shares of any class of Capital Stock of such Person, now or hereafter outstanding (other than dividends or distributions payable in the same
class of Capital Stock of such Person or dividends or distributions payable to any Credit Party (directly or indirectly through Subsidiaries)), (ii) any redemption, retirement, sinking fund or similar payment, purchase or other acquisition for
value, direct or indirect, of any shares of any class of Capital Stock of such Person, now or hereafter outstanding, and (iii) any payment made to retire, or to obtain the surrender of, any outstanding warrants, options or other rights to acquire
shares of any class of Capital Stock of such Person, now or hereafter outstanding. 
  
 “Revolving Commitment” means, with respect to each Bank, the commitment of such Bank to make Revolving Loans in an aggregate principal amount outstanding at any time up to such Bank’s Revolving
Committed Amount. 
  
 “Revolving Commitment
Percentage” means, with respect to each Bank, a fraction (expressed as a percentage) the numerator of which is the Revolving Committed Amount of such Bank at such time and the denominator of which is the Aggregate Revolving Committed Amount
at such time. The initial Revolving Commitment Percentage of each Bank is set forth on Schedule 2.1. 
  
 “Revolving Committed Amount” means, with respect to each Bank, the amount of such Bank’s Revolving Commitment, as such amount may
from time to time be reduced in accordance with the provisions hereof. The initial Revolving Committed Amount of each Bank is set forth on Schedule 2.1. 
  

“Revolving Loans” shall have the meaning assigned to such term in Section 2.1(a). 
  
 “Revolving Note” means the promissory notes of the Borrowers
in favor of each of the Banks evidencing the Revolving Loans and Swingline Loans in substantially the form attached as Schedule 2.5, 

  

 20 

 
individually or collectively, as appropriate, as such promissory notes may be amended, modified, supplemented, extended, renewed or replaced from time to
time. 
  
 “Revolving Obligations” the Revolving
Loans, the Swingline Loans and the LOC Obligations. 
  
 “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw Hill Companies, Inc., and any successor thereof. 
  

“Securitization Agreements” means (a) (i) the Receivables Sale Agreement dated as of April 30, 2002 among the Parent, the Borrowers
and O&M Funding Corp. and (ii) the Receivables Purchase Agreement dated as of April 30, 2002 among O&M Funding Corp., Owens & Minor Medical, Inc., Blue Ridge Asset Funding Corporation, EagleFunding Capital Corporation (successor in
interest to Blue Keel Funding, L.L.C.), Wachovia Bank, National Association, and Fleet Securities, Inc., and (b) such other agreements and documents executed or delivered under or in connection with the aforementioned agreements, as any such
agreement referred to in clauses (a) and (b) may be amended, supplemented or otherwise modified from time to time after the Closing Date. 
  
 “Securitization Receivables” shall have the meaning given to such term in the definition of “Securitization Transaction”.

  
 “Securitization Subsidiary” means (a) O&M
Funding Corp. and (b) any other wholly owned Subsidiary which engages in no activities other than those reasonably related to or in connection with the entering into of Securitization Transactions and which is designated by the board of directors of
the Parent (as provided below) as a Securitization Subsidiary; provided that no member of the Consolidated Group (i) shall provide credit support to such Securitization Subsidiary, (ii) shall have any contract, agreement, arrangement or
understanding with such Securitization Subsidiary other than on terms that are fair and reasonable and that are no less favorable to such member of the Consolidated Group than could be obtained from an unrelated Person (other than representations,
warranties and covenants (including those relating to servicing) entered into in the ordinary course of business in connection with a Qualified Securitization Transaction and intercompany notes relating to the sale of Securitization Receivables to
such Securitization Subsidiary) and (iii) no member of the Consolidated Group shall have any obligation to maintain or preserve such Securitization Subsidiary’s financial condition or to cause such Securitization Subsidiary to achieve certain
levels of operating results. Any such designation by the board of directors of the Parent (other than with respect to O&M Funding Corp.) shall be evidenced to the Administrative Agent and each Bank by filing with the Administrative Agent and
each Bank a certified copy of the resolutions of the board of directors of the Parent giving effect to such designation. 
  
 “Securitization Transaction” means any financing transaction or series of financing transactions that have been or may be entered into by
a member of the Consolidated Group pursuant to which such member of the Consolidated Group may sell, convey or otherwise transfer to any Person (including, without limitation, a Securitization Subsidiary) or may grant a security interest in any
accounts receivable, notes receivable, rights to future lease payments or residuals or other similar rights to payment (the “Securitization Receivables”) (whether such Securitization Receivables are then existing or arising in the
future) of such member of the Consolidated Group, and any assets related thereto, including without limitation, all security interests in merchandise or services financed thereby, the proceeds of such Securitization Receivables, and other assets
which are customarily sold or in respect of which security interests are customarily granted in connection with securitization transactions involving such assets. 
  
 “Senior Subordinated Notes” means those $200,000,000 8.5% Senior Subordinated Notes of the Parent due 2011.

  

 21 

 “Single Employer Plan” means any Plan which is not a Multiemployer Plan or a Multiple
Employer Plan. 
  
 “Special Purpose Vehicle”
means a trust, partnership or other entity established by any member of the Consolidated Group to implement a Qualified Securitization Transaction. 
  
 “Standard Securitization Obligations” means representations, warranties, covenants, indemnities and other obligations entered into by any
member of the Consolidated Group which are reasonably customary in asset securitization transactions involving accounts receivable. 
  
 “Standby Letter of Credit Fee” shall have the meaning assigned to such term in Section 3.5(b)(i). 
  
 “Subordinated Debt” means (i) the Indebtedness evidenced by
the Senior Subordinated Notes and (ii) any other Indebtedness which by its terms is specifically subordinated in right of payment to the prior payment of the Obligations on terms and conditions which are, and evidenced by documentation which is,
satisfactory to the Required Banks. 
  
 “Subsidiary” means, as to any Person, (i) any corporation more than 50% of whose stock of any class or classes having by the terms thereof ordinary voting power to elect a majority of the directors of such corporation
(irrespective of whether or not at the time, any class or classes of such corporation shall have or might have voting power by reason of the happening of any contingency) is at the time owned by such Person directly or indirectly through
Subsidiaries, and (ii) any partnership, association, joint venture or other entity in which such person directly or indirectly through Subsidiaries has more than 50% equity interest at any time. Except as otherwise expressly provided, all references
herein to “Subsidiary” shall mean a Subsidiary of the Parent; provided, however, that (i) O&M Funding Corp and (ii) any Special Purpose Vehicle shall not be considered to be a Subsidiary of the Parent for purposes of this
Credit Agreement. 
  
 “Support Obligations”
means, with respect to any Person, without duplication, any obligations of such Person (other than (i) endorsements in the ordinary course of business of negotiable instruments for deposit or collection and (ii) Standard Securitization Obligations
relating to Qualified Securitization Transactions) guaranteeing or intended to guarantee any Indebtedness of any other Person in any manner, whether direct or indirect, and including without limitation any obligation, whether or not contingent, (i)
to purchase any such Indebtedness or any Property constituting security therefor, (ii) to advance or provide funds or other support for the payment or purchase of any such Indebtedness or to maintain working capital, solvency or other balance sheet
condition of such other Person (including without limitation keep well agreements, maintenance agreements, comfort letters or similar agreements or arrangements) for the benefit of any holder of Indebtedness of such other Person, (iii) to lease or
purchase Property, securities or services primarily for the purpose of assuring the holder of such Indebtedness against loss in respect thereof, or (iv) to otherwise assure or hold harmless the holder of such Indebtedness against loss in respect
thereof. The amount of any Support Obligation hereunder shall (subject to any limitations set forth therein) be deemed to be an amount equal to the outstanding principal amount (or maximum principal amount, if larger) of the Indebtedness in respect
of which such Support Obligation is made. 
  
 “Swingline
Bank” means Bank of America and its successors in such capacity. 
  
 “Swingline Commitment” means, with respect to the Swingline Bank, the commitment of the Swingline Bank to make Swingline Loans in an aggregate principal amount at any time outstanding up to the
Swingline Committed Amount and, with respect to the Banks, the commitment of each Bank to purchase participation interests in the Swingline Loans up to its Revolving Commitment Percentage of the Swingline Committed Amount as provided in Section 2.7.

  

 22 

 “Swingline Committed Amount” shall have the meaning assigned to such term in Section
2.1(b). 
  
 “Swingline Loans” shall have the
meaning given to such term in Section 2.1(b). 
  
 “Termination Date” means the earlier of (i) May 3, 2009 or such later date as to which all of the Banks may in their sole discretion by written consent agree or (ii) the date on which the Commitments terminate in accordance
with the provisions of this Credit Agreement. 
  
 “Threshold Requirement” shall have the meaning assigned to such term in Section 7.11(a). 
  
 “Total Consideration” means cash and non-cash consideration, any assumption of Indebtedness, the maximum amount of any contingent payment
(including, without limitation, earn-out payments) and the fair value of any Capital Stock of the Parent issued to the seller of the Capital Stock or Property acquired in an Acquisition. 
  
 “Voting Stock” means, with respect to any Person, the voting stock or other securities of any class or
classes, the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or Persons performing similar functions) of such Person, even though the right so to vote has been suspended by the
happening of such a contingency. 
  
 1.2 Computation of Time
Periods. 
  
 For purposes of computation of periods of
time hereunder, the word “from” means “from and including” and the words “to” and “until” each mean “to but excluding.” 
  
 1.3 Accounting Terms. 
  
 Except as otherwise expressly provided herein, all accounting terms used herein shall be interpreted, and all financial
statements and certificates and reports as to financial matters required to be delivered to the Banks hereunder shall be prepared, in accordance with GAAP applied on a consistent basis. All calculations made for the purposes of determining
compliance with this Credit Agreement shall (except as otherwise expressly provided herein) be made by application of GAAP applied on a basis consistent with the most recent annual or quarterly financial statements delivered pursuant to Section 7.1
(or, prior to the delivery of the first financial statements pursuant to Section 7.1, consistent with the annual audited financial statements referenced in Section 6.7(a)); provided, however, if (a) the Parent shall object to
determining such compliance on such basis at the time of delivery of such financial statements due to any change in GAAP or the rules promulgated with respect thereto or (b) the Administrative Agent or the Required Banks shall so object in writing
within 60 days after delivery of such financial statements, then such calculations shall be made on a basis consistent with the most recent financial statements delivered by the Credit Parties to the Banks as to which no such objection shall have
been made. 
  
 Notwithstanding the above, the parties hereto
acknowledge and agree that all calculations of the financial covenants set forth in Section 7.10 (including, without limitation, for purposes of determining the “Applicable Percentage” and for purposes of Section 8.4, Section 8.5, Section
8.7 and Section 8.12) shall be made on a Pro Forma Basis. 
  

 23 

 SECTION 2 
  

CREDIT FACILITIES 
  
 2.1 Commitments. 
  
 (a) Revolving Commitments. During the Commitment Period, subject to the terms and conditions hereof, each Bank severally agrees to make revolving
credit loans (the “Revolving Loans”) in Dollars to the Borrowers for the purposes hereinafter set forth; provided, however, that (i) with regard to the Banks collectively, the aggregate principal amount of Revolving
Obligations outstanding shall not at any time exceed the lesser of (A) TWO HUNDRED FIFTY MILLION DOLLARS ($250,000,000) (as such aggregate maximum amount may be reduced from time to time as hereinafter provided, the “Aggregate Revolving
Committed Amount”) or (B) the Borrowing Base, and (ii) with regard to each Bank individually, each Bank’s Revolving Commitment Percentage of Revolving Obligations outstanding shall not at any time exceed the lesser of (A) such
Bank’s Revolving Committed Amount or (B) such Bank’s Revolving Commitment Percentage of the Borrowing Base. Revolving Loans may consist of Base Rate Loans or Eurodollar Loans (or a combination thereof), as the Borrower Representative may
request, and may be repaid and reborrowed in accordance with the provisions hereof. 
  
 (b) Swingline Commitment. During the Commitment Period, subject to the terms and conditions hereof, the Swingline Bank, in its individual capacity, agrees to make certain revolving credit loans (the
“Swingline Loans”) in Dollars to the Borrowers for the purposes hereinafter set forth; provided, however, (i) the aggregate principal amount of Swingline Loans outstanding shall not at any time exceed FIFTY MILLION
DOLLARS ($50,000,000) (the “Swingline Committed Amount”), (ii) with regard to the Banks collectively, the aggregate principal amount of Revolving Obligations outstanding shall not at any time exceed the lesser of (A) the Aggregate
Revolving Committed Amount or (B) the Borrowing Base, and (iii) with regard to each Bank individually, each Bank’s Revolving Commitment Percentage of Revolving Obligations outstanding shall not at any time exceed the lesser of (A) such
Bank’s Revolving Committed Amount or (B) such Bank’s Revolving Commitment Percentage of the Borrowing Base. Swingline Loans hereunder may consist of Base Rate Loans or Fed Funds Swingline Loans (or a combination thereof), as the Borrower
Representative may request, and may be repaid and reborrowed in accordance with the provisions hereof. 
  
 (c) Letter of Credit Commitment. During the Commitment Period, in reliance on the agreements of the Banks set forth in Section 2.6 and subject to
the terms and conditions hereof and of the LOC Documents, if any, and such other terms and conditions which the Issuing Bank may reasonably require, the Issuing Bank shall issue, and the Banks shall participate severally in, such Letters of Credit
in Dollars on a sight basis as the Borrower Representative may request, in form acceptable to the Issuing Bank, for the purposes hereinafter set forth; provided that (i) the aggregate amount of LOC Obligations shall not at any time exceed
FIFTEEN MILLION DOLLARS ($15,000,000) (the “LOC Committed Amount”), (ii) with regard to the Banks collectively, the aggregate principal amount of Revolving Obligations outstanding shall not at any time exceed the lesser of (A) the
Aggregate Revolving Committed Amount or (B) the Borrowing Base, and (iii) with regard to each Bank individually, each Bank’s Revolving Commitment Percentage of Revolving Obligations outstanding shall not at any time exceed the lesser of (A)
such Bank’s Revolving Committed Amount or (B) such Bank’s Revolving Commitment Percentage of the Borrowing Base. Letters of Credit issued hereunder shall have an expiry date not more than one year from the date of issuance or extension,
and may not extend beyond the date five (5) Business Days prior to the Termination Date. All Existing Letters of Credit shall be deemed to have been issued pursuant hereto, and from and after the Closing Date shall be subject to and governed by the
terms and conditions hereof. 
  

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 2.2 Method of Borrowing. 
  
 (a) Notice of Request for Extensions of Credit. The Borrower Representative, on behalf of any Borrower, shall request
an Extension of Credit as follows: 
  
 (i)
Revolving Loans. In the case of Revolving Loans, the Borrower Representative, on behalf of any Borrower, shall give written notice (or telephone notice promptly confirmed in writing) substantially in the form of Schedule 2.2(a)(i)
(each a “Notice of Revolving Loan Borrowing”) to the Administrative Agent not later than 12:00 Noon (Charlotte, North Carolina time) on the Business Day of the requested advance in the case of Base Rate Loans and on the third
Business Day prior to the date of the requested advance in the case of Eurodollar Loans. Each such Notice of Borrowing shall be irrevocable and shall specify (i) that a Revolving Loan is requested, (ii) the date of the requested advance (which shall
be a Business Day), (iii) the aggregate principal amount of Revolving Loans requested, and (iv) whether the Revolving Loans requested shall consist of Base Rate Loans, Eurodollar Loans or a combination thereof, and if Eurodollar Loans are requested,
the Interest Periods with respect thereto. The Administrative Agent shall as promptly as practicable give each Bank notice of each requested Revolving Loan advance, of such Bank’s pro rata share thereof and of the other matters covered in the
Notice of Borrowing. If each Bank makes its pro rata share of the requested Revolving Loan advance to the Administrative Agent by 2:00 p.m. (Charlotte, North Carolina time) on the date of the requested Revolving Loan advance, the Administrative
Agent shall initiate the transfer of funds representing the Revolving Loan advance to such Borrower by 2:30 p.m. (Charlotte, North Carolina time) on such date. 
  

(ii) Swingline Loans. In the case of Swingline Loans, the Borrower Representative, on behalf of any Borrower, shall give written
notice (or telephone notice promptly confirmed in writing) substantially in the form of Schedule 2.2(a)(ii) (each a “Notice of Swingline Loan Borrowing”) to the Swingline Bank (with a copy to the Administrative Agent) not
later than 12:00 Noon (Charlotte, North Carolina time) on the Business Day of the requested Swingline Loan advance. Each such Notice of Borrowing shall be irrevocable and shall specify (A) that a Swingline Loan advance is requested, (B) the date of
the requested Swingline Loan advance (which shall be a Business Day), (C) the aggregate principal amount of the Swingline Loan advance requested and (D) whether the Swingline Loan shall consist of Base Rate Loans, Fed Funds Swingline Loans or a
combination thereof. The Swingline Bank shall initiate the transfer of funds representing the Swingline Loan advance to such Borrower by 1:30 p.m. (Charlotte, North Carolina time) on the Business Day specified by such Borrower in the applicable
Notice of Borrowing. 
  
 (iii) Letters of
Credit. In the case of the issuance or extension of a Letter of Credit, the Borrower Representative, on behalf of any Borrower, shall give written notice (or telephone notice promptly confirmed in writing) substantially in the form of
Schedule 2.2(a)(iii) (each a “Notice of Request of Letter of Credit”) to the Issuing Bank (with a copy to the Administrative Agent) not later than 11:00 A.M. (Charlotte, North Carolina time) on the third Business Day prior to
the date of the requested issuance or extension (or such shorter period as may be agreed by the Issuing Bank), together with a Letter of Credit Application in form reasonably acceptable to the Issuing Bank. Each Notice of Request of Letter of Credit
shall be irrevocable and shall specify, among other things, (A) that a Letter of Credit is requested, (B) the date of the requested issuance or extension, (C) the type, amount, expiry date and terms on which the Letter of Credit is to be issued or
extended, and (D) the beneficiary. 
  

 25 

 (b) Minimum Amounts. Each Eurodollar Loan shall be in a minimum aggregate
principal amount of $5,000,000 and in integral multiples of $1,000,000 in excess thereof. Each Base Rate Loan (other than a Base Rate Loan comprising a Swingline Loan) shall be in a minimum aggregate principal amount of $5,000,000 (or, if less, the
remaining amount of the Aggregate Revolving Committed Amount) and in integral multiples of $1,000,000 in excess thereof. Each Swingline Loan advance shall be in a minimum principal amount of $250,000 (or, if less, the remaining amount of the
Swingline Committed Amount) and in integral multiples of $100,000 in excess thereof. 
  
 (c) Information Not Provided. If in connection with any request for a Revolving Loan, the Borrower Representative shall fail to
specify (i) an applicable Interest Period in the case of a Eurodollar Loan, the Borrower Representative shall be deemed to have requested an Interest Period of one month, or (ii) the type of loan requested, the Borrower Representative shall be
deemed to have requested a Base Rate Loan. If in connection with any request for a Swingline Loan, the Borrower Representative shall fail to specify the type of Swingline Loan requested, then such notice shall be deemed to be a request for a Base
Rate Loan. 
  
 (d) Maximum Number of
Eurodollar Loans. The Revolving Loans may be comprised of no more than seven (7) Eurodollar Loans outstanding at any time. For purposes hereof, Eurodollar Loans with separate or different Interest Periods will be considered as separate
Eurodollar Loans even if their Interest Periods expire on the same date. 
  
 2.3 Interest. 
  
 Subject to Section 3.1, the Loans shall bear interest at a per annum rate, payable in arrears on each applicable Interest Payment Date (or at such other times as may be specified herein), as follows: 
  
 (a) Revolving Loans. 
  
 (i) Base Rate Loans. During such periods as Revolving
Loans shall consist of Base Rate Loans, the sum of the Base Rate plus the Applicable Percentage; and 
  
 (ii) Eurodollar Loans. During such periods as Revolving Loans shall consist of Eurodollar Loans, the sum of the Eurodollar Rate
plus the Applicable Percentage. 
  
 (b) Swingline
Loans. 
  
 (i) Base Rate Loans. During
such periods as Swingline Loans shall consist of Base Rate Loans, the sum of the Base Rate plus the Applicable Percentage; and 
  
 (ii) Fed Funds Swingline Loans. During such period as Swingline Loans shall consist of Fed Funds Swingline Loans, the sum of the
Applicable Federal Funds Rate plus the Applicable Percentage. 
  
 2.4 Repayment. 
  
 (a) Revolving
Loans. The principal amount of all Revolving Loans shall be due and payable in full on the Termination Date. 
  
 (b) Swingline Loans. The principal amount of each Swingline Loan shall be due and payable on the earliest of (A) the date thirty (30) days from the
date of advance thereof, (B) the date of the next Revolving Loan advance or (C) the Termination Date. If, and to the extent, any Swingline Loan advances 

  

 26 

 
shall be outstanding on the date of any Revolving Loan advance, such Swingline Loans shall first be repaid from the proceeds of such Revolving Loan advance
prior to distribution of such Revolving Loan advance to the Borrowers. If, and to the extent, Revolving Loans are not requested prior to the Termination Date or the end of any such 30 day period from the date of any such Swingline Loan advance, the
Borrower Representative shall be deemed to have requested a Revolving Loan comprised solely of Base Rate Loans in the amount of such Swingline Loan advance then outstanding, the proceeds of which shall be used to repay the Swingline Bank for such
Swingline Loan. 
  
 2.5 Notes. 
  
 The Revolving Loans and the Swingline Loans shall, at the request of a Bank,
be evidenced by the Revolving Notes. 
  
 2.6 Additional
Provisions relating to Letters of Credit. 
  
 (a)
Reports. The Issuing Bank will provide to the Administrative Agent at least quarterly, and more frequently upon request, a detailed summary report on all Letters of Credit and the activity thereon, in form and substance acceptable to the
Administrative Agent. The Issuing Bank will provide copies of the Letters of Credit to the Administrative Agent and the Banks promptly upon request. 
  
 (b) Participation. Upon issuance of a Letter of Credit, each Bank shall be deemed to have purchased without recourse a risk participation from the
Issuing Bank in such Letter of Credit and the obligations arising thereunder, in each case in an amount equal to its pro rata share of the obligations under such Letter of Credit (based on its Revolving Commitment Percentage) and shall absolutely,
unconditionally and irrevocably assume, as primary obligor and not as surety, and be obligated to pay to the Issuing Bank therefor and discharge when due, its pro rata share of the obligations arising under such Letter of Credit. Without limiting
the scope and nature of each Bank’s participation in any Letter of Credit, to the extent that the Issuing Bank has not been reimbursed as required hereunder or under any such Letter of Credit, each Bank shall pay to the Issuing Bank its pro
rata share of such unreimbursed drawing in same day funds on the day of notification by the Issuing Bank of an unreimbursed drawing pursuant to the provisions of subsection (d) hereof. The obligation of each Bank to so reimburse the Issuing Bank
shall be absolute and unconditional and shall not be affected by the occurrence of a Default, an Event of Default or any other occurrence or event. Any such reimbursement shall not relieve or otherwise impair the obligation of the Borrower
Representative to reimburse the Issuing Bank under any Letter of Credit, together with interest as hereinafter provided. 
  
 (c) Reimbursement. In the event of any drawing under any Letter of Credit, the Issuing Bank will promptly notify the Borrower Representative.
Unless the Borrower Representative shall immediately notify the Issuing Bank that the Borrowers intend to otherwise reimburse the Issuing Bank for such drawing, the Borrower Representative shall be deemed to have requested that the Banks make a
Revolving Loan in the amount of the drawing as provided in subsection (d) hereof on the related Letter of Credit, the proceeds of which will be used to satisfy the related reimbursement obligations. The Borrowers promise to reimburse the Issuing
Bank on the day of drawing under any Letter of Credit (either with the proceeds of a Revolving Loan obtained hereunder or otherwise) in same day funds. If the Borrowers shall fail to reimburse the Issuing Bank as provided hereinabove, the
unreimbursed amount of such drawing shall bear interest at a per annum rate equal to the Base Rate plus two percent (2%). The Borrowers’ reimbursement obligations hereunder shall be absolute and unconditional under all circumstances
irrespective of any rights of setoff, counterclaim or defense to payment the Borrowers may claim or have against the Issuing Bank, the Administrative Agent, the Banks, the beneficiary of the Letter of Credit drawn upon or any other Person, including
without limitation any defense based on any failure of the Borrowers or any other Credit Party to receive consideration or the legality, validity, regularity or unenforceability of the Letter of Credit. The Issuing Bank 

  

 27 

 
will promptly notify the Administrative Agent of the amount of any unreimbursed drawing, the Administrative Agent will, in turn, promptly notify the Banks,
and each Bank shall promptly pay to the Administrative Agent for the account of the Issuing Bank in Dollars and in immediately available funds, the amount of such Bank’s Revolving Commitment Percentage of such unreimbursed drawing. Such payment
shall be made on the day such notice is received by such Bank from the Issuing Bank if such notice is received at or before 2:00 P.M. (Charlotte, North Carolina time) otherwise such payment shall be made at or before 12:00 Noon (Charlotte, North
Carolina time) on the Business Day next succeeding the day such notice is received. If such Bank does not pay such amount to the Issuing Bank in full upon such request, such Bank shall, on demand, pay to the Administrative Agent for the account of
the Issuing Bank interest on the unpaid amount during the period from the date of such drawing until such Bank pays such amount to the Issuing Bank in full at a rate per annum equal to, if paid within two (2) Business Days of the date that such Bank
is required to make payments of such amount pursuant to the preceding sentence, the Federal Funds Rate and thereafter at a rate equal to the Base Rate. Each Bank’s obligation to make such payment to the Issuing Bank, and the right of the
Issuing Bank to receive the same, shall be absolute and unconditional, shall not be affected by any circumstance whatsoever and without regard to the termination of this Credit Agreement or the Commitments hereunder, the existence of a Default or
Event of Default or the acceleration of the obligations of the Borrowers hereunder and shall be made without any offset, abatement, withholding or reduction whatsoever. Simultaneously with the making of each such payment by a Bank to the Issuing
Bank, such Bank shall, automatically and without any further action on the part of the Issuing Bank or such Bank, acquire a participation in an amount equal to such payment (excluding the portion of such payment constituting interest owing to the
Issuing Bank) in the related unreimbursed drawing portion of the LOC Obligation and in the interest thereon and in the related LOC Documents, and shall have a claim against the Borrowers with respect thereto. 
  
 (d) Repayment with Revolving Loans. On any day on which any Borrower
shall have requested, or been deemed to have requested, a Revolving Loan advance to reimburse a drawing under a Letter of Credit, the Administrative Agent shall give notice to the Banks that a Revolving Loan has been requested or deemed requested by
such Borrower to be made in connection with a drawing under a Letter of Credit, in which case a Revolving Loan advance comprised of Base Rate Loans (or Eurodollar Loans to the extent such Borrower has complied with the procedures of Section 2.2 with
respect thereto) shall be immediately made to such Borrower by all Banks (notwithstanding any termination of the Commitments pursuant to Section 9.2) pro rata based on the respective Revolving Commitment Percentages of the Banks
(determined before giving effect to any termination of the Commitments pursuant to Section 9.2) and the proceeds thereof shall be paid directly to the Issuing Bank for application to the respective LOC Obligations. Each such Bank hereby irrevocably
agrees to make its pro rata share of each such Revolving Loan immediately upon any such request or deemed request in the amount, in the manner and on the date specified in the preceding sentence notwithstanding (i) the amount of such
borrowing may not comply with the minimum amount for advances of Revolving Loans otherwise required hereunder, (ii) whether any conditions specified in Section 5.2 are then satisfied, (iii) whether a Default or an Event of Default then exists, (iv)
failure of any such request or deemed request for Revolving Loans to be made by the time otherwise required hereunder, (v) whether the date of such borrowing is a date on which Revolving Loans are otherwise permitted to be made hereunder or (vi) any
termination of the Commitments relating thereto immediately prior to or contemporaneously with such borrowing. In the event that any Revolving Loan cannot for any reason be made on the date otherwise required above (including, without limitation, as
a result of the commencement of a proceeding under the Bankruptcy Code with respect to any Credit Party), then each such Bank hereby agrees that it shall forthwith purchase (as of the date such borrowing would otherwise have occurred, but adjusted
for any payments received from the Borrowers on or after such date and prior to such purchase) from the Issuing Bank such participation in the outstanding LOC Obligations as shall be necessary to cause each such Bank to share in such LOC Obligations
ratably (based upon the respective Commitment Percentages of the Banks (determined before giving effect to any termination of the Commitments pursuant to Section 9.2)), provided that in the event such payment is not made on the date due, such
Bank shall pay 

  

 28 

 
in addition to the Issuing Bank interest on the amount of its unfunded Participation Interest at a rate equal to, if paid within two (2) Business Days of the
date due, the Federal Funds Rate, and thereafter at the Base Rate. 
  
 (e) Designation of other Credit Parties as Account Parties. Notwithstanding anything to the contrary set forth in this Credit Agreement, a Letter of Credit issued hereunder may contain a statement to the effect that such Letter of
Credit is issued for the account of any Credit Party or other Subsidiary of the Parent other than the Borrowers, provided that notwithstanding such statement, the Borrowers shall be the actual account parties for all purposes of this Credit
Agreement for such Letter of Credit and such statement shall not affect the Borrowers’ reimbursement obligations hereunder with respect to such Letter of Credit. 
  
 (f) Renewal, Extension. The renewal or extension of any Letter of Credit shall, for purposes hereof, be treated in
all respects the same as the issuance of a new Letter of Credit hereunder. 
  
 (g) Uniform Customs and Practices. Unless otherwise expressly agreed by the Issuing Bank and the Borrower Representative when a Letter of Credit (including any such agreement applicable to an Existing Letter of
Credit) is issued, (i) the rules of the “International Standby Practices 1998” published by the Institute of International Banking Law & Practice (or such later version thereof as may be in effect at the time of issuance) shall apply
to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce (the “ICC”) at the time of issuance (including the
ICC decision published by the Commission on Banking Technique and Practice on April 6, 1998 regarding the European single currency (euro)) shall apply to each trade Letter of Credit. 
  
 (h) Indemnification; Nature of Issuing Bank’s Duties. 
  
 (i) In addition to its other obligations under this Section
2.6, the Borrower Representative hereby agrees to protect, indemnify, pay and save the Issuing Bank harmless from and against any and all claims, demands, liabilities, damages, losses, costs, charges and expenses (including reasonable
attorneys’ fees) that the Issuing Bank may incur or be subject to as a consequence, direct or indirect, of (A) the issuance of any Letter of Credit or (B) the failure of the Issuing Bank to honor a drawing under a Letter of Credit as a result
of any act or omission, whether rightful or wrongful, of any present or future de jure or de facto government or Governmental Authority (all such acts or omissions, herein called “Government Acts”). 
  
 (ii) As between the Borrowers and the Issuing Bank, the
Borrowers shall assume all risks of the acts, omissions or misuse of any Letter of Credit by the beneficiary thereof. The Issuing Bank shall not be responsible: (A) for the form, validity, sufficiency, accuracy, genuineness or legal effect of any
document submitted by any party in connection with the application for and issuance of any Letter of Credit, even if it should in fact prove to be in any or all respects invalid, insufficient, inaccurate, fraudulent or forged; (B) for the validity
or sufficiency of any instrument transferring or assigning or purporting to transfer or assign any Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, that may prove to be invalid or ineffective for any
reason; (C) for errors, omissions, interruptions or delays in transmission or delivery of any messages, by mail, cable, telegraph, telex or otherwise, whether or not they be in cipher; (D) for any loss or delay in the transmission or otherwise of
any document required in order to make a drawing under a Letter of Credit or of the proceeds thereof; and (E) for any consequences arising from causes beyond the control of the Issuing Bank, including, without limitation, any Government Acts. None
of the above shall affect, impair, or prevent the vesting of the Issuing Bank’s rights or powers hereunder. 
  

 29 

 (iii) In furtherance and extension and not in limitation of the specific provisions
hereinabove set forth, any action taken or omitted by the Issuing Bank, under or in connection with any Letter of Credit or the related certificates, if taken or omitted in good faith, shall not put such Issuing Bank under any resulting liability to
the Borrowers or any other Credit Party. It is the intention of the parties that this Credit Agreement shall be construed and applied to protect and indemnify the Issuing Bank against any and all risks involved in the issuance of the Letters of
Credit, all of which risks are hereby assumed by the Borrowers (on behalf of themselves and each of the other Credit Parties), including, without limitation, any and all Government Acts. The Issuing Bank shall not, in any way, be liable for any
failure by the Issuing Bank or anyone else to pay any drawing under any Letter of Credit as a result of any Government Acts or any other cause beyond the control of the Issuing Bank. 
  
 (iv) Nothing in this subsection (h) is intended to limit the reimbursement obligations of the Borrowers
contained in subsection (d) above. The obligations of the Borrowers under this subsection (h) shall survive the termination of this Credit Agreement. No act or omissions of any current or prior beneficiary of a Letter of Credit shall in any way
affect or impair the rights of the Issuing Bank to enforce any right, power or benefit under this Credit Agreement. 
  
 (v) Notwithstanding anything to the contrary contained in this subsection (h), the Borrowers shall have no obligation to indemnify the
Issuing Bank in respect of any liability incurred by the Issuing Bank (A) arising solely out of the gross negligence or willful misconduct of the Issuing Bank, as determined by a court of competent jurisdiction, or (B) caused by the Issuing
Bank’s failure to pay under any Letter of Credit after presentation to it of a request strictly complying with the terms and conditions of such Letter of Credit, as determined by a court of competent jurisdiction, unless such payment is
prohibited by any law, regulation, court order or decree. 
  
 (i)
Responsibility of Issuing Bank. It is expressly understood and agreed that the obligations of the Issuing Bank hereunder to the Banks are only those expressly set forth in this Credit Agreement and that the Issuing Bank shall be entitled to
assume that the conditions precedent set forth in Section 5.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, that nothing set forth in
this Section 2.6 shall be deemed to prejudice the right of any Bank to recover from the Issuing Bank any amounts made available by such Bank to the Issuing Bank pursuant to this Section 2.6 in the event that it is determined by a court of competent
jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Bank. 
  
 (j) Limitation on Obligation of the Issuing Bank. Notwithstanding anything contained herein to the contrary, the Issuing Bank shall not be under
any obligation to issue, renew or extend any Letter of Credit if (i) any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain the Issuing Bank from issuing a Letter of Credit, or any
applicable law, rule or regulation or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over the Issuing Bank shall prohibit, or request that the Issuing Bank refrain from, the
issuance of letters of credit generally or any such Letter of Credit in particular, or shall impose upon the Issuing Bank with respect to any such Letter of Credit any restriction, reserve or capital requirement (for which the Issuing Bank is not
otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon the Issuing Bank any unreimbursed loss, costs or expense that was not applicable on the Closing Date and that the Issuing Bank should deem material to it in
good faith, or (ii) the issuance, renewal or extension would violate or otherwise contravene its internal policy as applied on a non-discriminatory basis. 
  

 30 

 (k) Conflict with LOC Documents. In the event of any conflict between this Credit Agreement and
any LOC Document (including any Letter of Credit Application), this Credit Agreement shall control. 
  
 2.7 Additional Provisions relating to Swingline Loans. 
  
 The Swingline Bank may, at any time, in its sole discretion, by written notice to the Borrower Representative and the Banks,
demand repayment of its Swingline Loans by way of a Revolving Loan advance, in which case the Borrower Representative shall be deemed to have requested a Revolving Loan advance comprised solely of Base Rate Loans in the amount of such Swingline
Loans; provided, however, that any such demand shall be deemed to have been given one Business Day prior to the Termination Date, on the date of the occurrence of any Event of Default and upon acceleration of the Loans and other
obligations hereunder and the exercise of remedies in accordance with the provisions of Section 9.2. Each Bank hereby irrevocably agrees to make its Revolving Commitment Percentage of each such Revolving Loan in the amount, in the manner and on the
date specified in the preceding sentence notwithstanding (I) the amount of such borrowing may not comply with the minimum amount for advances of Revolving Loans otherwise required hereunder, (II) whether any conditions specified in Section
5.2 are then satisfied, (III) whether a Default or an Event of Default then exists, (IV) failure of any such request or deemed request for Revolving Loan to be made by the time otherwise required hereunder, (V) whether the date of such borrowing is
a date on which Revolving Loans are otherwise permitted to be made hereunder or (VI) any termination of the Commitments relating thereto immediately prior to or contemporaneously with such borrowing. In the event that any Revolving Loan cannot for
any reason be made on the date otherwise required above (including, without limitation, as a result of the commencement of a proceeding under the Bankruptcy Code with respect to any Credit Party), then each Bank hereby agrees that it shall forthwith
purchase (as of the date such borrowing would otherwise have occurred, but adjusted for any payments received from the Borrowers on or after such date and prior to such purchase) from the Swingline Bank such participation interests in the
outstanding Swingline Loans as shall be necessary to cause each such Bank to share in such Swingline Loans ratably based upon its Revolving Commitment Percentage (determined before giving effect to any termination of the Commitments pursuant to
Section 9.2), provided that (A) all interest payable on the Swingline Loans shall be for the account of the Swingline Bank until the date as of which the respective Participation Interest is funded and (B) at the time any purchase of
Participation Interests pursuant to this sentence is actually made, the purchasing Bank shall be required to pay to the Swingline Bank, to the extent not paid to the Swingline Bank by the Borrowers in accordance with the terms of Section 2.3(b),
interest on the principal amount of Participation Interests purchased for each day from and including the day upon which such borrowing would otherwise have occurred to but excluding the date of payment for such Participation Interests, at the rate
equal to the Federal Funds Rate. 
  
 2.8 Joint and Several
Liability of the Borrowers. 
  
 (a) Each of the Borrowers
is accepting joint and several liability hereunder in consideration of the financial accommodation to be provided by the Banks under this Credit Agreement, for the mutual benefit, directly and indirectly, of each of the Borrowers and in
consideration of the undertakings of each of the Borrowers to accept joint and several liability for the obligations of each of them. 
  
 (b) Each of the Borrowers jointly and severally hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor, joint and
several liability with the other Borrowers with respect to the payment and performance of all of the Obligations arising under this Credit Agreement and the other Credit Documents, it being the intention of the parties hereto that all the
Obligations shall be the joint and several obligations of each of the Borrowers without preferences or distinction among them. 
  
 (c) If and to the extent that either of the Borrowers shall fail to make any payment with respect to any of the obligations hereunder as and when due or
to perform any of such obligations in 

  

 31 

 
accordance with the terms thereof, then in each such event, the other Borrower will make such payment with respect to, or perform, such obligation.

  
 (d) The obligations of each Borrower under the provisions of
this Section 2.8 constitute full recourse obligations of such Borrower, enforceable against it to the full extent of its properties and assets, irrespective of the validity, regularity or enforceability of this Credit Agreement or any other
circumstances whatsoever. 
  
 (e) Except as otherwise expressly
provided herein, each Borrower hereby waives notice of acceptance of its joint and several liability, notice of occurrence of any Default or Event of Default (except to the extent notice is expressly required to be given pursuant to the terms of
this Credit Agreement), or of any demand for any payment under this Credit Agreement (except to the extent demand is expressly required to be given pursuant to the terms of this Agreement), notice of any action at any time taken or omitted by the
Banks under or in respect of any of the Obligations hereunder, any requirement of diligence and, generally, all demands, notices and other formalities of every kind in connection with this Credit Agreement. Each Borrower hereby assents to, and
waives notice of, any extension or postponement of the time for the payment of any of the Obligations hereunder, the acceptance of any partial payment thereon, any waiver, consent or other action or acquiescence by the Banks at any time or times in
respect of any default by any Borrower in the performance or satisfaction of any term, covenant, condition or provision of this Credit Agreement, any and all other indulgences whatsoever by the Banks in respect of any of the Obligations hereunder,
and the taking, addition, substitution or release, in whole or in part, at any time or times, of any security for any of such Obligations or the addition, substitution or release, in whole or in part, of any Borrower. Without limiting the generality
of the foregoing, each Borrower assents to any other action or delay in acting or any failure to act on the part of the Bank, including, without limitation, any failure strictly or diligently to assert any right or to pursue any remedy or to comply
fully with applicable laws or regulations thereunder which might, but for the provisions of this Section 2.8, afford grounds for terminating, discharging or relieving such Borrower, in whole or in part, from any of its obligations under this
Section 2.8, it being the intention of each Borrower that, so long as any of the Obligations hereunder remain unsatisfied, the obligations of such Borrower under this Section 2.8 shall not be discharged except by performance and then
only to the extent of such performance. The obligations of each Borrower under this Section 2.8 shall not be diminished or rendered unenforceable by any winding up, reorganization, arrangement, liquidation, reconstruction or similar
proceeding with respect to any reconstruction or similar proceeding with respect to any Borrower or any Bank. The joint and several liability of the Borrowers hereunder shall continue in full force and effect notwithstanding any absorption, merger,
amalgamation or any other change whatsoever in the name, membership, constitution or place of formation of any Borrower or any Bank. 
  
 (f) The provisions of this Section 2.8 are made for the benefit of the Administrative Agent, Issuing Bank, Swingline Bank, the Banks and their
respective successors and assigns, and may be enforced by any such Person from time to time against any of the Borrowers as often as occasion therefor may arise and without requirement on the part of any Bank first to marshal any of its claims or to
exercise any of its rights against any of the other Borrowers or to exhaust any remedies available to it against any of the other Borrowers or to resort to any other source or means of obtaining payment of any of the Obligations or to elect any
other remedy. The provisions of this Section 2.8 shall remain in effect until all the Obligations hereunder shall have been paid in full or otherwise fully satisfied. If at any time, any payment, or any part thereof, made in respect of any of
the Obligations, is rescinded or must otherwise be restored or returned by the Banks upon the insolvency, bankruptcy or reorganization of any of the Borrowers, or otherwise, the provisions of this Section 2.8 will forthwith be reinstated and
in effect as though such payment had not been made. 
  

 32 

 (g) Notwithstanding any provision to the contrary contained herein or in any other of the Credit
Documents, the obligations of each Borrower hereunder shall be limited to an aggregate amount equal to the largest amount that would not render its obligations hereunder subject to avoidance under Section 548 of the Bankruptcy Code or any comparable
provisions of any applicable state law. 
  
 2.9 Appointment
of Parent as Legal Representative for Credit Parties. 
  
 Each of the Credit Parties hereby appoints the Parent to act as its exclusive legal representative for all purposes under this Credit Agreement and the other Credit Documents (including, without limitation, with respect to all matters
related to Borrowings and the repayment of Loans and amounts drawn under Letters of Credit as described in Article II and Article III hereof) (in such capacity, the “Borrower Representative”). Each of the Credit
Parties acknowledges and agrees that (a) the Borrower Representative may execute such documents on behalf of all the Credit Parties (whether as Borrowers or Guarantors) as the Borrower Representative deems appropriate in its reasonable discretion
and each Credit Party shall be bound by and obligated by all of the terms of any such document executed by the Borrower Representative on its behalf, (b) any notice or other communication delivered by the Administrative Agent or any Bank hereunder
to the Borrower Representative shall be deemed to have been delivered to each of the Credit Parties and (c) the Administrative Agent and each of the Banks shall accept (and shall be permitted to rely on) any document or agreement executed by the
Borrower Representative on behalf of the Credit Parties (or any of them). The Borrowers must act through the Borrower Representative for all purposes under this Credit Agreement and the other Credit Documents. Notwithstanding anything contained
herein to the contrary, to the extent any provision in this Credit Agreement requires any Credit Party to interact in any manner with the Administrative Agent or the Banks, such Credit Party shall do so through the Borrower Representative.

  
 SECTION 3 
  
 OTHER PROVISIONS RELATING TO CREDIT FACILITY 
  
 3.1 Default Rate. 
  
 Upon the occurrence, and during the continuance, of an Event of Default
described in Section 9.1(a) and upon the request of the Required Banks, (i) the principal of and, to the extent permitted by law, interest on the Loans and any other amounts owing hereunder or under the other Credit Documents shall bear interest,
payable on demand, at a per annum rate 2% greater than the rate which would otherwise be applicable (or if no rate is applicable, whether in respect of interest, fees or other amounts, then the Base Rate plus the Applicable Percentage
plus 2%) and (ii) the Standby Letter of Credit Fee shall accrue at a per annum rate 2% greater than the rate which would otherwise be applicable. 
  
 3.2 Conversion. 
  
 The Borrower Representative shall have the option, on any Business Day, to extend existing Eurodollar Loans into a subsequent Interest Period or to
convert Revolving Loans of one type into Revolving Loans of another type; provided, however, that (i) except as provided in Section 3.7, Eurodollar Loans may be converted into Base Rate Loans only on the last day of an Interest Period
applicable thereto, (ii) Eurodollar Loans may be extended, and Base Rate Loans may be converted into Eurodollar Loans, only if no Default or Event of Default is in existence on the date of extension or conversion, (iii) Revolving Loans extended as,
or converted into, Eurodollar Loans shall be in such minimum amounts as provided in Section 2.2(b), and (iv) any request for extension of or conversion to a Eurodollar Loan which shall fail to specify an Interest Period shall be deemed to be a
request for an 

  

 33 

 
Interest Period of one month. Each such extension or conversion shall be effected by the Borrower Representative by giving written notice (or telephone
notice promptly confirmed in writing) to the Administrative Agent (a “Notice of Extension/Conversion”) prior to 10:00 A.M. (Charlotte, North Carolina time) on the Business Day of, in the case of Base Rate Loans, and on the third
Business Day prior to, in the case of Eurodollar Loans, the date of the proposed extension or conversion, specifying the date of the proposed extension or conversion, the Revolving Loans to be so extended or converted, the types of Revolving Loans
into which such Revolving Loans are to be converted and, if appropriate, the applicable Interest Periods with respect thereto. Each request for extension or conversion shall be deemed to be a reaffirmation by the Borrower Representative that no
Default or Event of Default then exists and is continuing and that the representations and warranties set forth in Section 6 are true and correct in all material respects (except to the extent they relate to an earlier period). In the event the
Borrower Representative fails to request extension of or conversion to any Eurodollar Loan in accordance with this Section, or any such conversion or extension is not permitted or required by this Section, then such Revolving Loans shall be
automatically converted into Base Rate Loans at the end of their Interest Period or remain as Base Rate Loans, as the case may be. The Administrative Agent shall give each Bank notice as promptly as practicable of any such proposed conversion
affecting any Revolving Loans. 
  
 3.3 Termination of
Commitments. 
  
 The Borrower Representative may from
time to time permanently reduce the Aggregate Revolving Committed Amount in whole or in part (in minimum principal amounts of $10,000,000 and in integral multiples of $1,000,000 in excess thereof) upon three (3) Business Days’ prior written
notice to the Administrative Agent provided that after giving effect to any voluntary reduction the aggregate amount of Revolving Obligations shall not exceed the Aggregate Revolving Committed Amount, as reduced. 
  
 3.4 Prepayments. 
  
 (a) Voluntary Prepayments. The Borrowers shall have the right to
prepay Loans in whole or in part from time to time without premium or penalty; provided, however, that (A) Eurodollar Loans may only be prepaid (y) on the last day of the Interest Period applicable thereto or (z) on a day that is not the last day of
an Interest Period applicable thereto if the Borrowers pay to the applicable Banks any amounts due under Section 3.12, and (B) each such partial prepayment shall be in a minimum principal amount of $5,000,000 and in integral multiples of $1,000,000
in excess thereof (or the amount then outstanding, if less). Amounts prepaid on the Loans may be reborrowed in accordance with the provisions hereof. 
  
 (b) Mandatory Prepayments. If at any time (i) the aggregate principal amount of Revolving Obligations shall exceed the lesser of (A) the Aggregate
Revolving Committed Amount or (B) the Borrowing Base, (ii) the aggregate principal amount of Swingline Loans shall exceed the Swingline Committed Amount, or (iii) the aggregate principal amount of LOC Obligations shall exceed the LOC Committed
Amount, then in any such instance the Borrowers shall immediately make payment on the Loans and/or to a cash collateral account in respect of LOC Obligations in an amount sufficient to eliminate the difference. 
  
 (c) Application. Unless otherwise specified by the Borrower
Representative, prepayments on the Revolving Obligations shall be applied first to Fed Funds Rate Swingline Loans, then to Base Rate Loans and then to Eurodollar Loans in direct order of Interest Period. 
  
 (d) Notice. The Borrower Representative will provide notice to the
Administrative Agent of any prepayment by 10:00 a.m. (Charlotte, North Carolina time) on the date of prepayment. 
  

 34 

 3.5 Fees. 
  
 (a) Commitment Fee. In consideration of the Commitments, the Borrowers agree to pay to the Administrative Agent for
the ratable benefit of the Banks a commitment fee (the “Commitment Fee”) for the period from the Closing Date to the Termination Date equal to the Applicable Percentage per annum on the average daily unused amount of the Aggregate
Revolving Committed Amount for the applicable period. The Commitment Fee shall be payable quarterly in arrears on the last Business Day of each March, June, September and December for the immediately preceding quarter (or a portion thereof)
beginning with the first such date to occur after the Closing Date and on the Termination Date. For purposes of computation of the Commitment Fee, (a) LOC Obligations shall be counted toward and considered usage of the Aggregate Revolving Committed
Amount and (b) Swingline Loans shall not be counted toward nor considered usage of the Aggregate Revolving Committed Amount. 
  
 (b) Letter of Credit Fees. 
  
 (i) Standby Letter of Credit Issuance Fee. In consideration of the issuance of standby Letters of Credit hereunder, the Borrowers
promise to pay to the Administrative Agent for the account of each Bank a fee (the “Standby Letter of Credit Fee”) on such Bank’s Revolving Commitment Percentage of the average daily maximum amount available to be drawn under
each such standby Letter of Credit computed at a per annum rate for each day from the date of issuance to and including the date of expiration equal to the Applicable Percentage. The Standby Letter of Credit Fee shall be payable quarterly in arrears
on the last Business Day of each March, June, September and December for the immediately preceding quarter (or a portion thereof) beginning with the first such date to occur after the Closing Date and on the Termination Date. 
  
 (ii) Issuing Bank Fees. In addition to the Standby
Letter of Credit Fee, the Borrowers promise to pay to the Administrative Agent for the account of the Issuing Bank without sharing by the other Banks (i) a letter of credit fronting fee of one-eighth of one percent (0.125%) on the average daily
maximum amount available to be drawn under each Letter of Credit computed at a per annum rate for each day from the date of issuance to the date of expiration and (ii) the customary charges from time to time of the Issuing Bank with respect to the
issuance, amendment, transfer, administration, cancellation and conversion of, and drawings under, such Letters of Credit. The fronting fee shall be payable upon the issuance of each Letter of Credit and the customary charges shall be payable upon
demand by the Issuing Bank. 
  
 (c) Administrative Agent’s
Fee. The Borrowers agree to pay to the Administrative Agent, for its own account, the administrative and other fees referred to in the Administrative Agent’s Fee Letter. 
  
 3.6 Capital Adequacy. 
  
 If any Bank has determined, after the date hereof, that the adoption or the becoming effective of, or any change in, or any
change by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof in the interpretation or administration of, any applicable law, rule or regulation regarding capital adequacy, or
compliance by such Bank with any request or directive regarding capital adequacy (whether or not having the force of law) of any such authority, central bank or comparable agency, has or would have the effect of reducing the rate of return on such
Bank’s (including, for purposes hereof, the parent company of such Bank) capital or assets as a consequence of its commitments or obligations hereunder to a level below that which such Bank could have achieved but for such adoption,
effectiveness, change or compliance (taking into consideration such Bank’s policies with respect to capital adequacy), then, upon notice from such Bank to the Borrower Representative, the Borrowers shall be obligated to pay to such Bank such
additional amount or amounts as will compensate such Bank for such 

  

 35 

 
reduction. Such notice shall be accompanied by a statement as to the amount of such compensation and include a reasonably detailed summary of the basis for
such demand with reasonably detailed calculations. Each determination by any such Bank of amounts owing under this Section shall be reasonable and shall, absent manifest error, be conclusive and binding on the parties hereto. 
  
 3.7 Limitation on Eurodollar Loans. 
  
 If on or prior to the first day of any Interest Period for
any Eurodollar Loan: 
  
 (a) the Administrative Agent determines
(which determination shall be conclusive) that by reason of circumstances affecting the relevant market arising after the Closing Date, adequate and reasonable means do not exist for ascertaining the Eurodollar Rate for such Interest Period; or

  
 (b) the Required Banks determine (which determination shall
be conclusive) and notify the Administrative Agent that the Eurodollar Rate will not adequately and fairly reflect the cost to the Banks of funding Eurodollar Loans for such Interest Period (other than any such determination based on Taxes);

  
 then the Administrative Agent shall give the Borrower Representative prompt
notice thereof, and so long as such condition remains in effect, the Banks shall be under no obligation to make additional Eurodollar Loans, continue Eurodollar Loans, or to convert Base Rate Loans into Eurodollar Loans. 
  
 3.8 Illegality. 
  
 Notwithstanding any other provision of this Credit Agreement, in the event
that it becomes unlawful for any Bank (or its Applicable Lending Office) to make, maintain, or fund Eurodollar Loans hereunder, then such Bank shall promptly notify the Borrower Representative thereof and such Bank’s obligation to make or
continue Eurodollar Loans and to convert Base Rate Loans into Eurodollar Loans shall be suspended until such time as such Bank may again make, maintain, and fund Eurodollar Loans (in which case the provisions of Section 3.10 shall be applicable).

  
 3.9 Requirements of Law. 
  
 If, after the date hereof, the adoption of any applicable law, rule, or
regulation, or any change in any applicable law, rule, or regulation, or any change in the interpretation or administration thereof by any Governmental Authority, central bank, or comparable agency charged with the interpretation or administration
thereof, or compliance by any Bank (or its Applicable Lending Office) with any request or directive (whether or not having the force of law) of any such Governmental Authority, central bank, or comparable agency: 
  
 (i) shall impose, modify, or deem applicable any reserve,
special deposit, assessment, or similar requirement (other than (A) the Eurodollar Reserve Requirement utilized in the determination of the Adjusted Eurodollar Rate and (B) Taxes) relating to any extensions of credit or other assets of, or any
deposits with or other liabilities or commitments of, such Bank (or its Applicable Lending Office), including the Commitment of such Bank hereunder; or 
  
 (ii) shall impose on such Bank (or its Applicable Lending Office) or the London interbank market any other condition (other than taxes)
affecting this Credit Agreement or its Notes 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 Bank (or its Applicable Lending Office) of making, converting into, continuing, or maintaining any
Eurodollar Loans or to reduce any sum received 

  

 36 

 
or receivable by such Bank (or its Applicable Lending Office) under this Credit Agreement or its Notes with respect to any Eurodollar Loans, then the
Borrowers shall pay to such Bank within thirty days of demand therefor such amount or amounts as will compensate such Bank for such increased cost or reduction. If any Bank requests compensation by the Borrowers under this Section 3.9, the Borrower
Representative may, by notice to such Bank (with a copy to the Administrative Agent), suspend the obligation of such Bank to make or continue Eurodollar Loans, or to convert Base Rate Loans into Eurodollar Loans, until the event or condition giving
rise to such request ceases to be in effect (in which case the provisions of Section 3.10 shall be applicable); provided that such suspension shall not affect the right of such Bank to receive the compensation so requested. Each Bank shall
promptly notify the Borrower Representative and the Administrative Agent of any event of which it has knowledge, occurring after the date hereof, which will entitle such Bank to compensation pursuant to this Section 3.9 and will designate a
different Applicable Lending Office if such designation will avoid the need for, or reduce the amount of, such compensation and will not, in the judgment of such Bank, be otherwise disadvantageous to it. Any Bank claiming compensation under this
Section 3.9 shall furnish to the Borrower Representative and the Administrative Agent a statement setting forth the additional amount or amounts to be paid to it hereunder (including a reasonably detailed summary of the basis for such amounts with
reasonably detailed calculations) which shall be conclusive in the absence of manifest error. In determining such amount, such Bank may use any reasonable averaging and attribution methods. 
  
 3.10 Treatment of Affected Loans. 
  
 If the obligation of any Bank to make any Eurodollar Loan or to continue, or
to convert Base Rate Loans into, Eurodollar Loans shall be suspended pursuant to Section 3.8 or 3.9 hereof, such Bank’s Eurodollar Loans shall be automatically converted into Base Rate Loans on the last day(s) of the then current Interest
Period(s) for such Eurodollar Loans (or, in the case of a Conversion required by Section 3.8 hereof, on such earlier date as such Bank may specify to the Borrower Representative with a copy to the Administrative Agent) and, unless and until such
Bank gives notice as provided below that the circumstances specified in Section 3.8 or 3.9 hereof that gave rise to such Conversion no longer exist: 
  
 (a) to the extent that such Bank’s Eurodollar Loans have been so converted, all payments and prepayments of principal that would otherwise be applied
to such Bank’s Eurodollar Loans shall be applied instead to its Base Rate Loans; and 
  
 (b) all Loans that would otherwise be made or continued by such Bank as Eurodollar Loans shall be made or continued instead as Base Rate Loans, and all Base Rate Loans of such Bank that would otherwise be converted
into Eurodollar Loans shall remain as Base Rate Loans. 
  
 If such Bank gives
notice to the Borrower Representative (with a copy to the Administrative Agent) that the circumstances specified in Section 3.8 or 3.9 hereof that gave rise to the Conversion of such Bank’s Eurodollar Loans pursuant to this Section 3.10 no
longer exist (which such Bank agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Loans made by other Banks are outstanding, such Bank’s Base Rate Loans shall be automatically converted, on the first day(s)
of the next succeeding Interest Period(s) for such outstanding Eurodollar Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Banks holding Eurodollar Loans and by such Bank are held pro rata (as to principal
amounts, interest rate basis, and Interest Periods) in accordance with their respective Commitments. 
  
 3.11 Taxes. 
  
 (a) Except as otherwise expressly provided herein, any and all payments by any Credit Party to or for the account of any Bank (whether or not a signatory
hereof) or the Administrative Agent hereunder or under any other Credit Document shall be made free and clear of and without deduction for any and all 

  

 37 

 
present or future taxes, duties, levies, imposts, deductions, charges or withholdings, and all liabilities with respect thereto, excluding, in the
case of each Bank and the Administrative Agent, taxes imposed on, or measured by, its income or gross receipts, and franchise taxes imposed on it, by the jurisdiction under the laws of which such Bank (or its Applicable Lending Office) or the
Administrative Agent (as the case may be) is organized or conducts business, or any political subdivision thereof (all such non-excluded taxes, duties, levies, imposts, deductions, charges, withholdings, and liabilities being hereinafter referred to
as “Taxes”). If any Credit Party shall be required by law to deduct or withhold any Taxes from or in respect of any sum payable under this Credit Agreement or any other Credit Document to any Bank or the Administrative Agent, (i)
the sum payable shall be increased as necessary so that after making all required deductions and withholdings (including deductions and withholdings applicable to additional sums payable under this Section 3.11) such Bank or the Administrative Agent
receives an amount equal to the sum it would have received had no such deductions been made, (ii) such Credit Party shall make such deductions and withholdings, and (iii) such Credit Party shall pay the full amount deducted or withheld to the
relevant taxation authority or other authority in accordance with applicable law. 
  
 (b) In addition, the Borrowers agree to pay any and all present or future stamp or documentary taxes and any other excise or property taxes or charges or similar levies which arise from any payment made under this
Credit Agreement or any other Credit Document or from the execution or delivery of, or otherwise similarly with respect to, this Credit Agreement or any other Credit Document (hereinafter referred to as “Other Taxes”). 

 
 (c) The Borrowers agree to indemnify each Bank and the Administrative
Agent for the full amount of Taxes and Other Taxes (including, without limitation, any Taxes or Other Taxes imposed or asserted by any jurisdiction on amounts payable under this Section 3.11) paid by such Bank or the Administrative Agent (as the
case may be) and any liability (including, penalties, interest, and expenses) arising therefrom or with respect thereto, except with respect to any Bank or the Administrative Agent, as the case may be, for such liability arising from such
Bank’s or the Administrative Agent’s, as the case may be, gross negligence or willful misconduct. 
  
 (d) The Administrative Agent and each Bank shall provide (i) on or prior to the date of its execution and delivery of this Credit Agreement (or, in the
case of a successor Administrative Agent or assignee of a Bank, on or prior to the date on which it becomes the Administrative Agent or a Bank), (ii) on or prior to the date the Administrative Agent changes its administrative office or such Bank
changes its lending office, (iii) on or prior to the date the appropriate form delivered by the Administrative Agent or such Bank pursuant to this Section 3.11(d) expires or becomes obsolete or invalid and (iv) from time to time thereafter if
requested in writing by the Borrower Representative or the Administrative Agent (but only so long as such Bank remains lawfully able to do so), the Borrower Representative and the Administrative Agent with (A) a complete and properly executed
Internal Revenue Service Form W-8BEN or W-8ECI, as appropriate, or any successor form prescribed by the Internal Revenue Service, certifying that the Administrative Agent or such Bank, as the case may be, is entitled to benefits under an income tax
treaty to which the United States is a party which reduces to zero the rate of withholding tax on payments of interest or certifying that the income receivable pursuant to this Credit Agreement or any other Credit Document is effectively connected
with the conduct of a trade or business in the United States, (B) a complete and properly executed Internal Revenue Service Form W-9 or any successor form prescribed by the Internal Revenue Service, (C) any other complete and properly executed form
or certificate required by any taxing authority (including any certificate required by Sections 871(h) and 881(c) of the Internal Revenue Code), certifying that the Administrative Agent or such Bank, as the case may be, is entitled to an exemption
from tax on payments pursuant to this Credit Agreement or any of the other Credit Documents, (D) a complete and properly executed Internal Revenue Service Form W-8IMY and any related documents required in conjunction with such W-8IMY, or (E) any
other forms or documents relating to the status of the Administrative Agent or such Bank, as the case may be, reasonably 

  

 38 

 
requested by the Borrower Representative. The Administrative Agent and each Bank providing one or more forms or certificates pursuant to this paragraph (d)
hereby represent, covenant and warrant the accuracy of the information provided therein and, if the Administrative Agent or such Bank provides an Internal Revenue Service Form W-8BEN with Part II completed in which the Administrative Agent or such
Bank claims the benefit of a tax treaty with the United States providing for a zero rate of withholding, its entitlements to the benefits of the tax treaty specified therein. 
  
 (e) For any period with respect to which the Administrative Agent has failed to provide the Borrower Representative or a
Bank has failed to provide the Borrower Representative and the Administrative Agent with the appropriate form pursuant to Section 3.11(d) (unless such failure is due to a change in treaty, law, or regulation occurring subsequent to the date on which
a form originally was required to be provided), then, notwithstanding any other provision of this Section 3.11, the Administrative Agent or such Bank, as applicable, shall not be entitled to additional payment or indemnification under Section
3.11(a), 3.11(b) or 3.11(c) with respect to Taxes or Other Taxes imposed by the United States; provided, however, that should the Administrative Agent or a Bank which is otherwise exempt from or subject to a reduced rate of withholding
tax, become subject to Taxes because of its failure to deliver a form required hereunder, the Borrower Representative shall take such steps as the Administrative Agent or such Bank, as applicable, shall reasonably request to assist the
Administrative Agent or such Bank, as applicable, to recover such Taxes. 
  
 (f) If any Credit Party is required to pay additional amounts to or for the account of the Administrative Agent or any Bank pursuant to this Section 3.11, then the Administrative Agent or such Bank, as the case may
be, agrees to file any certificates or documents reasonably requested in writing by a Credit Party or to use reasonable efforts to change the jurisdiction of its administrative office in the case of the Administrative Agent, or its Applicable
Lending Office in the case of a Bank, so as to eliminate or reduce to the greatest extent possible any such additional payment which may thereafter accrue if such change, in the good faith judgment of the Administrative Agent or such Bank, as the
case may be, is not otherwise disadvantageous to such Bank. 
  
 (g) Within thirty (30) days after the date of any payment of Taxes by any Credit Party, the applicable Credit Party shall furnish to the Administrative Agent the original or a certified copy of a receipt evidencing such payment. 

 
 (h) If the Administrative Agent or any Bank requests indemnification or
compensation for Taxes or Other Taxes pursuant to this Section 3.11 more than 90 days after the earlier of (i) the date on which the Administrative Agent or such Bank, as the case may be, makes payment of such Taxes or Other Taxes, and (ii) the date
on which the appropriate Governmental Authority makes written demand on the Administrative Agent or such Bank, as the case may be, for payment of such Taxes or Other Taxes, then the Borrowers shall not be obligated to indemnify or reimburse the
Administrative Agent or such Bank, as the case may be, for such Taxes or Other Taxes. 
  
 (i) If the Administrative Agent or any Bank determines that it has received a refund, credit or reduction in respect of any Taxes or Other Taxes for which the Administrative Agent or such Bank, as the case may be, has
received payment from the Borrowers or for which any Credit Party has made payments pursuant to this Section 3.11, then the Administrative Agent or such Bank, as the case may be, shall, within 45 days after receipt of such refund, credit or
reduction, pay to the Borrowers the amount of such refund, credit or reduction (net of any reasonable out-of-pocket expenses of the Administrative Agent or such Bank, as the case may be, and without interest (other than any interest paid by the
relevant Governmental Authority with respect to such refund, credit or reduction)), provided, however, that (i) the Administrative Agent or such Bank, as the case may be, acting in good faith will be the sole judge of the amount of any
such refund, credit or reduction and of the date on which such refund, credit or reduction is 

  

 39 

 
received, (ii) the Administrative Agent or such Bank, as the case may be, acting in good faith shall have the absolute discretion as to the order and manner
in which it employs or claims tax refund, credits, reductions and allowances available to it, (iii) the Borrowers agree to repay to the Administrative Agent or such Bank, as the case may be, upon written request from the Administrative Agent or such
Bank, the amount of such refund, credit or reduction received by the Borrowers, in the event, and to the extent, the Administrative Agent or such Bank is required to repay such refund, credit or reduction to any relevant Governmental Authority, and
(iv) neither the Administrative Agent nor any Bank shall be required to make available to any Credit Party (or any representative of any Credit Party) its tax returns or any other information relating to its taxes and the computation thereof.

  
 (j) Within thirty (30) days of the written request of the
Borrower Representative therefore, the Bank or the Administrative Agent, as the case may be, shall execute and deliver to the Borrower Representative such certificates, forms or other documents which can be furnished consistent with the facts and
which are reasonably necessary to assist the Borrowers in applying for refunds of Taxes and Other Taxes remitted hereunder. 
  
 (k) Without prejudice to the survival of any other agreement of the Credit Parties hereunder, the agreements and obligations of the Credit Parties
contained in this Section 3.11 shall survive the repayment of the Loans, LOC Obligations and other obligations under the Credit Documents and the termination of the Commitments and this Agreement. 
  
 3.12 Compensation. 
  
 Upon demand of any Bank (with a copy to the Administrative Agent) from time
to time, the Borrowers shall promptly compensate such Bank for and hold such Bank harmless from any loss, cost or expense incurred by it as a result of: 
  
 (a) any continuation, conversion, payment or prepayment of any Loan other than a Base Rate Loan on a day other than the last day of the Interest Period
for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); or 
  
 (b) any failure by the Borrowers (for a reason other than the failure of such Bank to make a Loan) to prepay, borrow, continue or convert any Loan other
than a Base Rate Loan on the date or in the amount notified by the Borrower Representative; 
  
 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 (but
excluding any loss of anticipated profits). The Borrowers shall also pay any customary administrative fees charged by such Bank in connection with the foregoing. For purposes of calculating amounts payable by the Borrowers to the Banks under this
Section 3.12, each Bank shall be deemed to have funded each Eurodollar Loan made by it at the Eurodollar Rate for such Loan by a matching deposit or other borrowing in the applicable offshore Dollar interbank market for a comparable amount and for a
comparable period, whether or not such Eurodollar Loan was in fact so funded. 
  
 3.13 Pro Rata Treatment. 
  
 Except to the extent otherwise provided herein: 
  
 (a)
Loans and Letters of Credit. Each Revolving Loan advance, each payment or prepayment of principal of any Revolving Loan (other than Swingline Loans) or reimbursement obligations arising from drawings under Letters of Credit, each payment of
interest on the Revolving Loans or reimbursement 

  

 40 

 
obligations arising from drawings under Letters of Credit, each payment of Commitment Fees, each payment of the Standby Letter of Credit Fee, each reduction
of the Aggregate Revolving Committed Amount and each conversion or extension of any Revolving Loan (other than Swingline Loans), shall be allocated pro rata among the Banks in accordance with the respective Revolving Commitment Percentages.

  
 (b) Advances. 
  
 (i) No Bank shall be responsible for the failure or delay by
any other Bank in its obligation to make its ratable share of a borrowing hereunder; provided, however, that the failure of any Bank to fulfill its obligations hereunder shall not relieve any other Bank of its obligations hereunder.

  
 (ii) Unless any Borrower or any Bank has
notified the Administrative Agent prior to the date any payment is required to be made by it to the Administrative Agent hereunder, that such Borrower or such Bank, as the case may be, will not make such payment, the Administrative Agent may assume
that such Borrower or such Bank, as the case may be, has timely made such payment and may (but shall not be so required to), in reliance thereon, make available a corresponding amount to the Person entitled thereto. If and to the extent that such
payment was not in fact made to the Administrative Agent in immediately available funds, then: 
  
 (A) if the Borrowers failed to make such payment, each Bank shall forthwith on demand repay to the Administrative Agent the portion of
such assumed payment that was made available to such Bank in immediately available funds, together with interest thereon in respect of each day from and including the date such amount was made available by the Administrative Agent to such Bank to
the date such amount is repaid to the Administrative Agent in immediately available funds, at the Federal Funds Rate from time to time in effect; and 
  
 (B) if any Bank failed to make such payment, such Bank shall forthwith on demand pay to the Administrative Agent the amount thereof in
immediately available funds, together with interest thereon for the period from the date such amount was made available by the Administrative Agent to the Borrowers to the date such amount is recovered by the Administrative Agent (the
“Compensation Period”) at a rate per annum equal to the Federal Funds Rate from time to time in effect. If such Bank does not pay such amount forthwith upon the Administrative Agent’s demand therefor, the Administrative Agent
may make a demand therefor upon the Borrower Representative, and the Borrowers shall pay such amount to the Administrative Agent, together with interest thereon for the Compensation Period at a rate per annum equal to the rate of interest applicable
to the applicable Borrowing. 
  
 Nothing herein
shall be deemed to relieve any Bank from its obligation to fulfill its Commitment or to prejudice any rights that the Administrative Agent or the Borrowers may have against any Bank as a result of any default by such Bank hereunder. A notice of the
Administrative Agent to any Bank with respect to any amount owing under this subsection (b) shall be conclusive, absent manifest error. 
  
 3.14 Sharing of Payments. 
  
 The Banks agree among themselves that, in the event that any Bank shall obtain payment in respect of any Loan, LOC Obligations or any other obligation
owing to such Bank under this Credit Agreement through the exercise of a right of setoff, banker’s lien or counterclaim, or pursuant to a secured claim under 

  

 41 

 
Section 506 of Title 11 of the United States Code or other security or interest arising from, or in lieu of, such secured claim, received by such Bank under
any applicable bankruptcy, insolvency or other similar law or otherwise, or by any other means, in excess of its pro rata share of such payment as provided for in this Credit Agreement, such Bank shall promptly purchase from the other Banks a
Participation Interest in such Loans, LOC Obligations and other obligations in such amounts, and make such other adjustments from time to time, as shall be equitable to the end that all Banks share such payment in accordance with their respective
ratable shares as provided for in this Credit Agreement. The Banks further agree among themselves that if payment to a Bank obtained by such Bank through the exercise of a right of setoff, banker’s lien, counterclaim or other event as aforesaid
shall be rescinded or must otherwise be restored, each Bank which shall have shared the benefit of such payment shall, by repurchase of a Participation Interest theretofore sold, return its share of that benefit (together with its share of any
accrued interest payable with respect thereto) to each Bank whose payment shall have been rescinded or otherwise restored. The Borrowers agree that any Bank so purchasing such a Participation Interest may, to the fullest extent permitted by law,
exercise all rights of payment, including setoff, banker’s lien or counterclaim, with respect to such Participation Interest as fully as if such Bank were a holder of such Loan, LOC Obligations or other obligation in the amount of such
Participation Interest. Except as otherwise expressly provided in this Credit Agreement, if any Bank or the Administrative Agent shall fail to remit to the Administrative Agent or any other Bank an amount payable by such Bank or the Administrative
Agent to the Administrative Agent or such other Bank pursuant to this Credit Agreement on the date when such amount is due, such payments shall be made together with interest thereon for each date from the date such amount is due until the date such
amount is paid to the Administrative Agent or such other Bank at a rate per annum equal to the Federal Funds Rate. If under any applicable bankruptcy, insolvency or other similar law, any Bank receives a secured claim in lieu of a setoff to which
this Section 3.14 applies, such Bank shall, to the extent practicable, exercise its rights in respect of such secured claim in a manner consistent with the rights of the Banks under this Section 3.14 to share in the benefits of any recovery on such
secured claim. 
  
 3.15 Payments, Computations, Etc.

  
 (a) Generally. Except as otherwise specifically
provided herein, all payments made by a Credit Party hereunder shall be made to the Administrative Agent in Dollars in immediately available funds, without condition or deduction for any counterclaim, defense, recoupment or setoff of any kind, at
the Administrative Agent’s office specified in Section 11.1 not later than 2:00 P.M. (Charlotte, North Carolina time) on the date when due. Payments received after such time shall be deemed to have been received on the next succeeding Business
Day. The Administrative Agent may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrowers or any other Credit Party maintained with the Administrative Agent
(with notice to the Borrower Representative or such other Credit Party). The Borrowers shall, at the time it makes any payment under this Credit Agreement, specify to the Administrative Agent the Loans, LOC Obligations, Fees, interest or other
amounts payable by the Borrowers hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Administrative Agent shall distribute such
payment to the Banks in such manner as the Administrative Agent may determine to be appropriate in respect of obligations owing by the Borrowers hereunder, subject to the terms of Section 3.13(a)). The Administrative Agent will distribute such
payments to such Banks, if any such payment is received prior to 2:00 P.M. (Charlotte, North Carolina time) on a Business Day in like funds as received prior to the end of such Business Day and otherwise the Administrative Agent will distribute such
payment to such Banks on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (subject to accrual
of interest and Fees for the period of such extension), except that in the case of Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the next
preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual 

  

 42 

 
number of days elapsed over a year of 360 days, except with respect to computation of interest on Base Rate Loans determined by reference to the Prime Rate,
which shall be calculated based on a year of 365 or 366 days, as appropriate. Interest shall accrue from and include the date of borrowing, but exclude the date of payment. 
  
 (b) Allocation of Payments After Event of Default. Notwithstanding any other provisions of this Credit Agreement to
the contrary, after the occurrence and during the continuance of an Event of Default, all amounts collected or received on or in respect of the Obligations (or other amounts owing under the Credit Documents in connection therewith) shall be paid
over or delivered as follows: 
  
 FIRST, to the
payment of all reasonable out-of-pocket costs and expenses (including without limitation reasonable attorneys’ fees) of the Administrative Agent in connection with enforcing the rights and remedies of the Banks under the Credit Documents made
with respect thereto; 
  
 SECOND, to payment of
any fees owed to the Administrative Agent; 
  
 THIRD, to the payment of all reasonable out-of-pocket costs and expenses (including without limitation, reasonable attorneys’ fees) of each of the Banks hereunder in connection with enforcing its rights under the Credit Documents or
otherwise with respect to the Obligations owing to such Bank; 
  
 FOURTH, to the payment of all accrued interest and fees on or in respect of the Obligations; 
  
 FIFTH, to the payment of the outstanding principal amount of the Obligations hereunder (including the payment or cash collateralization of
the outstanding LOC Obligations); 
  
 SIXTH, to
all other Obligations hereunder and other obligations which shall have become due and payable under the Credit Documents otherwise and not repaid pursuant to clauses “FIRST” through “FIFTH” above; and 
  
 SEVENTH, to the payment of the surplus, if any, to the
Borrowers. 
  
 In carrying out the foregoing, (i) amounts received
shall be applied in the numerical order provided until exhausted prior to application to the next succeeding category; and (ii) except as otherwise provided, the Banks shall receive amounts ratably in accordance with their respective pro rata share
(based on the proportion that the then outstanding Obligations held by such Banks bears to the aggregate amount of the Obligations then outstanding) of amounts available to be applied pursuant to clauses “THIRD”, “FOURTH”,
“FIFTH” and “SIXTH” above; and (iii) to the extent that any amounts available for distribution pursuant to clause “FIFTH” above are attributable to the issued but undrawn amount of outstanding Letters of Credit, such
amounts shall be held by the Administrative Agent in a cash collateral account and applied (A) first, to reimburse the Issuing Bank for any drawings under such Letters of Credit and (B) then, following the expiration of all Letters of Credit, to all
other obligations of the types described in clauses “FOURTH”, “FIFTH” and “SIXTH” above in the manner provided in this Section 3.15(b). 
  

 43 

 3.16 Evidence of Debt. 
  
 (a) Each Bank shall maintain an account or accounts evidencing each Loan made by such Bank to the Borrowers from time to
time, including the amounts of principal and interest payable and paid to such Bank from time to time under this Credit Agreement. Each Bank will make reasonable efforts to maintain the accuracy of its account or accounts and to promptly update its
account or accounts from time to time, as necessary. 
  
 (b) The
Administrative Agent shall maintain the Register pursuant to Section 11.3(c), and a subaccount for each Bank, in which Register and subaccounts (taken together) shall be recorded (i) the amount, type and Interest Period of each such Loan hereunder,
(ii) the amount of any principal or interest due and payable or to become due and payable to each Bank hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder from or for the account of any Credit Party and each
Bank’s share thereof. The Administrative Agent will make reasonable efforts to maintain the accuracy of the subaccounts referred to in the preceding sentence and to promptly update such subaccounts from time to time, as necessary. 

 
 (c) The entries made in the accounts, Register and subaccounts maintained
pursuant to subsection (b) of this Section 3.16 (and, if consistent with the entries of the Administrative Agent, subsection (a)) shall be prima facie evidence of the existence and amounts of the obligations of the Credit Parties therein recorded;
provided, however, that the failure of any Bank or the Administrative Agent to maintain any such account, such Register or such subaccount, as applicable, or any error therein, shall not in any manner affect the obligation of the
Credit Parties to repay the Obligations and other amounts owing to such Bank. 
  
 3.17 Certain Limitations. 
  
 The provisions of Sections 3.6, 3.9 and 3.11 shall be subject to the following: 
  
 (a) If any Bank requests compensation or indemnification from the Borrowers under Section 3.6, 3.9 or 3.11, then such Bank will agree to use reasonable
efforts to change the jurisdiction of its Applicable Lending Office so as to eliminate or reduce any such additional payment which may thereafter accrue if such change, in the reasonable judgment of such Bank, is not otherwise disadvantageous to
such Bank. 
  
 (b) If any Bank requests compensation or
indemnification from the Borrowers under Section 3.6, 3.9 or 3.12 more than 90 days after the Bank had knowledge of the occurrence of the event giving rise to the compensation or indemnification, the Borrowers shall not be obligated to reimburse the
Bank for amounts incurred prior to the date on which the Borrower Representative receives such demand for compensation or indemnification. 
  
 (c) If any Bank requests compensation or indemnification from the Borrowers under Section 3.6, 3.9 or 3.11, or if the obligation of any Bank to make or
maintain Eurodollar Loans has been suspended under Section 3.8, the Borrower Representative may, at its option, so long as no Event of Default shall have occurred and be continuing, obtain, at the Borrower Representative’s expense, a
replacement Bank for the affected Bank. If the Borrower Representative elects to obtain a replacement Bank for the affected Bank, the Borrower Representative shall within thirty (30) after the date of such request notify the Administrative Agent and
such affected Bank of its intention to replace the affected Bank. If the Borrower Representative obtains a replacement Bank within sixty (60) days following notice of its intention to do so, the affected Bank must sell and assign its Obligations and
Commitments to such replacement Bank pursuant to Section 11.3 (without giving effect to any requirement therein that the Administrative Agent consent thereto), for an amount equal to the principal balance of all Loans held by 

  

 44 

 
the affected Bank and all accrued interest and Fees with respect thereto through the date of such sale, provided that the Borrowers shall have paid to
such affected Bank the compensation or indemnification that it is entitled to receive under Section 3.6, 3.9 or 3.11 through the date of such sale and assignment. Notwithstanding the foregoing, if the Borrower Representative (a) fails to give notice
to the Administrative Agent and the affected Bank of its intention to replace the affected Bank within thirty (30) days after the Bank requests compensation or indemnification, or (b) timely gives notice to the Administrative Agent and the affected
Bank of its intention to replace such affected Bank but does not so replace such affected Bank within sixty (60) days following such notice, then in each case the Borrowers’ rights under this Section 3.17 to replace such Bank for the particular
circumstances shall terminate. 
  
 SECTION 4 

  
 GUARANTY 
  
 4.1 The Guaranty. 
  
 Each of the Guarantors hereby jointly and severally guarantees to each Bank,
each affiliate of a Bank that enters into a Hedging Agreement relating to the Obligations, and the Administrative Agent, as hereinafter provided, as primary obligor and not as surety, the prompt payment of the Obligations in full when due (whether
at stated maturity, as a mandatory prepayment, by acceleration, as a mandatory cash collateralization or otherwise) strictly in accordance with the terms thereof. The Guarantors hereby further agree that if any of the Obligations are not paid in
full when due (whether at stated maturity, as a mandatory prepayment, by acceleration, as a mandatory cash collateralization or otherwise), the Guarantors will, jointly and severally, promptly pay the same, without any demand or notice whatsoever,
and that in the case of any extension of time of payment or renewal of any of the Obligations, the same will be promptly paid in full when due (whether at extended maturity, as a mandatory prepayment, by acceleration, as a mandatory cash
collateralization or otherwise) in accordance with the terms of such extension or renewal. 
  
 Notwithstanding any provision to the contrary contained herein or in any other of the Credit Documents or Hedging Agreements, the obligations of each Guarantor under this Credit Agreement and the other Credit
Documents shall be limited to an aggregate amount equal to the largest amount that would not render such obligations subject to avoidance under Section 548 of the Bankruptcy Code or any comparable provisions of any applicable state law. 

 
 4.2 Obligations Unconditional. 
  
 The obligations of the Guarantors under Section 4.1 are joint and several,
absolute and unconditional, irrespective of the value, genuineness, validity, regularity or enforceability of any of the Credit Documents or Hedging Agreements, or any other agreement or instrument referred to therein, or any substitution, release,
impairment or exchange of any other guarantee of or security for any of the Obligations, and, to the fullest extent permitted by applicable law, irrespective of any other circumstance whatsoever which might otherwise constitute a legal or equitable
discharge or defense of a surety or guarantor, it being the intent of this Section 4.2 that the obligations of the Guarantors hereunder shall be absolute and unconditional under any and all circumstances. Each Guarantor agrees that such Guarantor
shall have no right of subrogation, indemnity, reimbursement or contribution against the Borrowers or any other Guarantor for amounts paid under this Section 4 until such time as the Banks (and any affiliates of Banks entering into Hedging
Agreements) have been paid in full in respect of all Obligations, all Commitments under this Credit Agreement have been terminated and no Person or Governmental Authority shall have any right to request any return or reimbursement of funds from the
Banks in connection with monies received under the Credit Documents or Hedging Agreements between any member of the Consolidated Group and any Bank, or any affiliate of a 

  

 45 

 
Bank. Without limiting the generality of the foregoing, it is agreed that, to the fullest extent permitted by law, the occurrence of any one or more of the
following shall not alter or impair the liability of any Guarantor hereunder which shall remain absolute and unconditional as described above: 
  
 (a) at any time or from time to time, without notice to any Guarantor, the time for any performance of or compliance with any of the Obligations shall be
extended, or such performance or compliance shall be waived; 
  
 (b) any of the acts mentioned in any of the provisions of any of the Credit Documents, any Hedging Agreement between any member of the Consolidated Group and any Bank, or any affiliate of a Bank, or any other agreement or instrument
referred to in the Credit Documents or such Hedging Agreements shall be done or omitted; 
  
 (c) the maturity of any of the Obligations shall be accelerated, or any of the Obligations shall be modified, supplemented or amended in any respect, or any right under any of the Credit Documents, any Hedging
Agreement between any member of the Consolidated Group and any Bank, or any affiliate of a Bank, or any other agreement or instrument referred to in the Credit Documents or such Hedging Agreements shall be waived or any other guarantee of any of the
Obligations or any security therefor shall be released, impaired or exchanged in whole or in part or otherwise dealt with; 
  
 (d) any of the Obligations shall be determined to be void or voidable (including, without limitation, for the benefit of any creditor of any Guarantor) or
shall be subordinated to the claims of any Person (including, without limitation, any creditor of any Guarantor). 
  
 With respect to its obligations hereunder, each Guarantor hereby expressly waives diligence, presentment, demand of payment, protest and all notices whatsoever, and any
requirement that the Administrative Agent or any Bank exhaust any right, power or remedy or proceed against any Person under any of the Credit Documents, any Hedging Agreement between any member of the Consolidated Group and any Bank, or any
affiliate of a Bank, or any other agreement or instrument referred to in the Credit Documents or such Hedging Agreements, or against any other Person under any other guarantee of, or security for, any of the Obligations. 
  
 4.3 Reinstatement. 
  
 The obligations of the Guarantors under this Section 4 shall be
automatically reinstated if and to the extent that for any reason any payment by or on behalf of any Person in respect of the Obligations is rescinded or must be otherwise restored by any holder of any of the Obligations, whether as a result of any
proceedings in bankruptcy or reorganization or otherwise, and each Guarantor agrees that it will indemnify the Administrative Agent and each Bank on demand for all reasonable costs and expenses (including, without limitation, fees and expenses of
counsel) incurred by the Administrative Agent or such Bank in connection with such rescission or restoration, including any such costs and expenses incurred in defending against any claim alleging that such payment constituted a preference,
fraudulent transfer or similar payment under any bankruptcy, insolvency or similar law. 
  
 4.4 Certain Additional Waivers. 
  
 Each Guarantor agrees that such Guarantor shall have no right of recourse to security for the Obligations, except through the exercise of rights of subrogation pursuant to Section 4.2 and through the exercise of
rights of contribution pursuant to Section 4.6. 
  

 46 

 4.5 Remedies. 
  
 The Guarantors agree that, to the fullest extent permitted by law, as between the Guarantors, on the one hand, and the
Administrative Agent and the Banks, on the other hand, the Obligations may be declared to be forthwith due and payable as provided in Section 9.2 (and shall be deemed to have become automatically due and payable in the circumstances provided in said
Section 9.2) for purposes of Section 4.1 notwithstanding any stay, injunction or other prohibition preventing such declaration (or preventing the Obligations from becoming automatically due and payable) as against any other Person and that, in the
event of such declaration (or the Obligations being deemed to have become automatically due and payable), the Obligations (whether or not due and payable by any other Person) shall forthwith become due and payable by the Guarantors for purposes of
Section 4.1. 
  
 4.6 Rights of Contribution.

  
 The Guarantors hereby agree as among themselves that, if
any Guarantor shall make an Excess Payment (as defined below), such Guarantor shall have a right of contribution from each other Guarantor in an amount equal to such other Guarantor’s Contribution Share (as defined below) of such Excess
Payment. The payment obligations of any Guarantor under this Section 4.6 shall be subordinate and subject in right of payment to the prior payment in full to the Administrative Agent and the Banks of the Obligations, and none of the Guarantors shall
exercise any right or remedy under this Section 4.6 against any other Guarantor until payment and satisfaction in full of all of Obligations. For purposes of this Section 4.6, (a) “Guaranteed Obligations” shall mean any obligations
arising under the other provisions of this Section 4; (b) “Excess Payment” shall mean the amount paid by any Guarantor in excess of its Pro Rata Share of any Guaranteed Obligations; (c) “Pro Rata Share” shall mean,
for any Guarantor in respect of any payment of Guaranteed Obligations, the ratio (expressed as a percentage) as of the date of such payment of Guaranteed Obligations of (i) the amount by which the aggregate present fair salable value of all of its
assets and properties exceeds the amount of all debts and liabilities of such Guarantor (including contingent, subordinated, unmatured, and unliquidated liabilities, but excluding the obligations of such Guarantor hereunder) to (ii) the amount by
which the aggregate present fair salable value of all assets and other properties of all of the Credit Parties exceeds the amount of all of the debts and liabilities (including contingent, subordinated, unmatured, and unliquidated liabilities, but
excluding the obligations of the Credit Parties hereunder) of the Credit Parties; provided, however, that, for purposes of calculating the Pro Rata Shares of the Guarantors in respect of any payment of Guaranteed Obligations, any
Guarantor that became a Guarantor subsequent to the date of any such payment shall be deemed to have been a Guarantor on the date of such payment and the financial information for such Guarantor as of the date such Guarantor became a Guarantor shall
be utilized for such Guarantor in connection with such payment; and (d) “Contribution Share” shall mean, for any Guarantor in respect of any Excess Payment made by any other Guarantor, the ratio (expressed as a percentage) as of the
date of such Excess Payment of (i) the amount by which the aggregate present fair salable value of all of its assets and properties exceeds the amount of all debts and liabilities of such Guarantor (including contingent, subordinated, unmatured, and
unliquidated liabilities, but excluding the obligations of such Guarantor hereunder) to (ii) the amount by which the aggregate present fair salable value of all assets and other properties of the Credit Parties other than the maker of such Excess
Payment exceeds the amount of all of the debts and liabilities (including contingent, subordinated, unmatured, and unliquidated liabilities, but excluding the obligations of the Credit Parties) of the Credit Parties other than the maker of such
Excess Payment; provided, however, that, for purposes of calculating the Contribution Shares of the Guarantors in respect of any Excess Payment, any Guarantor that became a Guarantor subsequent to the date of any such Excess Payment
shall be deemed to have been a Guarantor on the date of such Excess Payment and the financial information for such Guarantor as of the date such Guarantor became a Guarantor shall be utilized for such Guarantor in connection with such Excess
Payment. This Section 4.6 shall not be deemed to affect any right of subrogation, indemnity, reimbursement or contribution that any Guarantor may have under applicable law against the Borrowers in respect of any payment of Guaranteed Obligations.
Notwithstanding 

  

 47 

 
the foregoing, all rights of contribution against any Guarantor shall terminate from and after such time, if ever, that such Guarantor shall be relieved of
its obligations pursuant to Section 8.4. 
  
 4.7 Guarantee
of Payment; Continuing Guarantee. 
  
 The guarantee in
this Section 4 is a guaranty of payment and not of collection, is a continuing guarantee, and shall apply to all Obligations whenever arising. 
  
 SECTION 5 
  
 CONDITIONS PRECEDENT 
  
 5.1 Conditions to Closing. 
  
 The obligation of the Banks to enter into this Credit Agreement and to make the initial Extensions of Credit shall be subject to satisfaction of the following conditions (in form and substance acceptable to the
Banks): 
  
 (a) Executed Credit Documents. Receipt by the
Administrative Agent of (i) multiple counterparts of this Credit Agreement and (ii) a Revolving Note for each Bank requesting one, in each case executed by a duly authorized officer of each party thereto and in each case conforming to the
requirements of this Credit Agreement. 
  
 (b) Legal
Opinions. Receipt by the Administrative Agent of multiple counterparts of (i) opinions of in-house counsel for the Credit Parties and (ii) opinions of outside counsel for the Credit Parties relating to the Credit Documents and the transactions
contemplated therein. 
  
 (c) Financial Information.
Receipt by the Banks of the financial statements described in Section 6.7(i) and such other financial information regarding the members of the Consolidated Group as may be requested by, and in each case in form and substance satisfactory to, the
Administrative Agent and the Banks. 
  
 (d) Corporate
Documents. Receipt by the Administrative Agent of the following (or their equivalent) for each of the Credit Parties: 
  
 (i) Charter Documents. Copies of the articles or certificates of incorporation or other charter documents of such Credit Party
certified to be true and complete as of a recent date by the appropriate Governmental Authority of the state or other jurisdiction of its incorporation and certified by a secretary or assistant secretary of such Credit Party to be true and correct
as of the Closing Date. 
  
 (ii) Bylaws. A
copy of the bylaws, operating agreement or equivalent of such Credit Party certified by a secretary or assistant secretary of such Credit Party to be true and correct and in force and effect as of the Closing Date. 
  
 (iii) Resolutions. Copies of resolutions of the board
of directors (or an authorized executive committee, if applicable) of such Credit Party approving and adopting the Credit Documents to which it is a party, the transactions contemplated therein and authorizing execution and delivery thereof,
certified by a secretary or assistant secretary of such Credit Party to be true and correct and in force and effect as of the Closing Date. 
  

 48 

 (iv) Good Standing. Certificates of good standing, existence or its equivalent
certified as of a recent date by the appropriate governmental authorities of the state of incorporation, the state of the location of the principal place of business, and each other state in which the failure to so qualify and be in good standing
could reasonably be expected to have a Material Adverse Effect. 
  
 (v) Officer’s Certificate. An officer’s certificate for each of the Credit Parties dated as of the Closing Date substantially in the form of Schedule 5.1(e) with appropriate insertions and
attachments. 
  
 (e) Officer’s Certificates. The
Administrative Agent shall have received a certificate or certificates executed by a Responsible Officer of the Borrower’s Representative as of the Closing Date, in form and substance satisfactory to the Administrative Agent, stating that,
immediately after giving effect to the initial Loans made and any Letters of Credit issued on the Closing Date, (i) no Default or Event of Default exists and (ii) all representations and warranties contained herein and in the other Credit Documents
are true and correct in all material respects. 
  
 (f) Internal
Revenue Service Form W-9. The Administrative Agent and each Bank shall have provided to the Borrower Representative a complete and properly executed Internal Revenue Service Form W-9. 
  
 (g) Section 5.2 Conditions. Each of the conditions set forth in Section 5.2 shall have been satisfied. 
  
 (h) Replacement of Commitments. The commitments of the banks under the
Existing Credit Agreement shall have been replaced by the Revolving Commitments under this Credit Agreement. 
  
 (i) Fees and Expenses. Payment by the Credit Parties of all fees and expenses due and payable to the Banks and the Administrative Agent, including,
without limitation, payment to the Administrative Agent of the fees set forth in the Administrative Agent’s Fee Letter. 
  
 5.2 Conditions to all Extensions of Credit. 
  
 The obligation of each Bank to make any Extension of Credit (including the initial Extension of Credit) is subject to the satisfaction of the following
conditions precedent on the date of making such Extension of Credit: 
  
 (a) Representations and Warranties. The representations and warranties made by the Credit Parties herein and in the other Credit Documents and which are contained in any certificate furnished at any time under or in connection
herewith shall be true and 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 for those which expressly relate to an earlier date). 
  
 (b) No Default or Event of Default. No Default or Event of Default
shall have occurred and be continuing on such date or after giving effect to the Extension of Credit to be made on such date. 
  
 (c) Section 2 Conditions. Each of the conditions set forth in Section 2 shall have been satisfied (and, in addition, in the case of a continuation
or conversion of a Loan, Section 3.2 shall have been satisfied). 
  

 49 

 Each request for an Extension of Credit (including extensions, continuations and conversions) and each
acceptance by the Borrower Representative of an Extension of Credit (including extensions, continuations and conversions) shall be deemed to constitute a representation and warranty by the Borrower Representative as of the date of such Extension of
Credit that the applicable conditions in paragraphs (a), (b) and (c) of this Section 5.2 have been satisfied. 
  
 SECTION 6 
  
 REPRESENTATIONS AND WARRANTIES 
  
 Each
Credit Party hereby represents and warrants to the Administrative Agent and each Bank that: 
  
 6.1 Organization and Good Standing. 
  
 Each Credit Party is a corporation duly incorporated, validly existing and in good standing under the laws of the State of its incorporation, is duly qualified and in good standing as a foreign corporation authorized
to do business in every jurisdiction where the failure to so qualify could reasonably be expected to have a Material Adverse Effect, and has the requisite corporate power and authority to own its Property and to carry on its business as now
conducted and as proposed to be conducted. 
  
 6.2 Due
Authorization. 
  
 Each Credit Party (i) has the
requisite corporate power and authority to execute, deliver and perform this Credit Agreement and the other Credit Documents to which it is a party and to incur the obligations herein and therein provided for, and (ii) is duly authorized to, and has
been authorized by all necessary corporate action, to execute, deliver and perform this Credit Agreement and the other Credit Documents to which it is a party. 
  

6.3 No Conflicts. 
  
 Neither the execution and delivery of the Credit Documents, nor the consummation of the transactions contemplated therein, nor performance of and
compliance with the terms and provisions thereof by a Credit Party will (i) violate or conflict with any provision of its articles of incorporation or bylaws, (ii) violate, contravene or materially conflict with any law, regulation (including
without limitation Regulation U or Regulation X), order, writ, judgment, injunction, decree or permit applicable to it, (iii) violate, contravene or materially conflict with contractual provisions of, or cause an event of default under, any
indenture, loan agreement, mortgage, deed of trust, contract or other agreement or instrument to which it is a party or by which it may be bound, the violation of which could reasonably be expected to have a Material Adverse Effect, or (iv) result
in or require the creation of any lien, security interest or other charge or encumbrance (other than those contemplated in or created in connection with the Credit Documents) upon or with respect its properties, the creation of which could
reasonably be expected to have a Material Adverse Effect. 
  
 6.4 Consents. 
  
 No consent, approval,
authorization or order of, or filing, registration or qualification with, any Governmental Authority or any other Person is required in connection with the execution, delivery or performance of this Credit Agreement or any of the other Credit
Documents by each Credit Party or, if required, such consent, approval and authorization has been obtained. 
  

 50 

 6.5 Enforceable Obligations. 
  
 Each Credit Document has been duly executed and delivered and constitutes the legal, valid and binding obligation of each
Credit Party enforceable against each Credit Party in accordance with its terms, except as may be limited by bankruptcy or insolvency laws or similar laws affecting creditors’ rights generally or by general equitable principles. 
  
 6.6 Reserved. 
  
 6.7 Financial Condition. 
  
 (a) The consolidated balance sheets of the Parent and its Subsidiaries as of
December 31, 2001, December 31, 2002 and December 31, 2003 and the related consolidated statements of income, changes in shareholders’ equity and cash flows for each of the years in the three-year period ended December 31, 2003 (copies of which
have heretofore been provided to the Administrative Agent and the Banks) have been prepared in accordance with GAAP consistently applied, and present fairly in all material respects the financial condition of the Parent and its Subsidiaries as of
December 31, 2001, December 31, 2002 and December 31, 2003 and the results of their operations and cash flows for each of the years in the three-year period ended December 31, 2003. 
  
 (b) The consolidated balance sheets of the Parent and its Subsidiaries and the related consolidated statements of income,
changes in shareholders’ equity and cash flows delivered to the Administrative Agent and the Banks in accordance with Section 7.1(a) and Section 7.1(b) have been prepared in accordance with GAAP consistently applied, and present fairly in all
material respects the financial condition of the Parent and its Subsidiaries as of the date thereof and the results of their operations and cash flows for the periods covered thereby. 
  
 6.8 No Material Adverse Changes or Restricted Payments. 
  
 Since December 31, 2003: 
  
 (i) for the period to the Closing Date, except as previously
disclosed in writing to the Administrative Agent and the Banks, there have been no material sales, transfers or other dispositions of any material part of the business or Property of any member of the Consolidated Group, nor have there been any
material purchases or other acquisitions of any business or Property (including the Capital Stock of any other Person) by any member of the Consolidated Group, in each case which are not reflected in the annual audited financial statements
referenced in Section 6.7(a); and 
  
 (ii) there
have been no circumstances, developments or events relating to or affecting any member of the Consolidated Group which could reasonably be expected to have a Material Adverse Effect. 
  
 6.9 No Default. 
  
 No Default or Event of Default presently exists. 
  

 51 

 6.10 Liens. 
  
 Except for Permitted Liens, each member of the Consolidated Group has good and marketable title to, or a valid leasehold
interest in, all of its material real property, and good title to, or a valid leasehold interest in, all of its other material Property, free and clear of all Liens. 
  
 6.11 Indebtedness. 
  

No member of the Consolidated Group has any Indebtedness except for Indebtedness permitted by Section 8.1. 
  
 6.12 Litigation. 
  
 No claim, litigation, investigation or proceeding of any kind is pending or,
to the knowledge of any Responsible Officer of any Credit Party, threatened, against any member of the Consolidated Group or any of its Property or revenues which (a) relate to the Credit Documents or any of the transactions contemplated hereby or
thereby or (b) could reasonably be expected to have a Material Adverse Effect. For purposes hereof, in the case of proceedings involving only monetary damages, $5,000,000 or more in any instance shall be considered as having a Material Adverse
Effect. 
  
 6.13 Material Agreements. 
  
 No member of the Consolidated Group is in default in any respect (and, to
the knowledge of any Responsible Officer of any Credit Party, no such default is asserted) under any contract, lease, loan agreement, indenture, mortgage, security agreement or other agreement or obligation to which any member of the Consolidated
Group is a party or by which any of its Property is bound which default could reasonably be expected to have a Material Adverse Effect. 
  
 6.14 Taxes. 
  
 Each member of the Consolidated Group has filed, or caused to be filed, all material tax returns (federal, state, local and foreign) required to be filed
and paid (a) all amounts of taxes shown thereon to be due (including interest and penalties) and (b) all other material taxes, fees, assessments and other governmental charges (including mortgage recording taxes, documentary stamp taxes and
intangibles taxes) owing (or necessary to preserve any Liens in favor of the Banks) by it, except for such taxes (i) which are not yet delinquent or (ii) as are being contested in good faith by proper proceedings for which adequate reserves are
being maintained in accordance with GAAP. 
  
 6.15
Compliance with Law. 
  
 Each member of the
Consolidated Group is in compliance with all Requirements of Law except to the extent that the failure to comply therewith could not reasonably be expected to have a Material Adverse Effect. 
  
 6.16 ERISA. 
  
 Except as could not reasonably be expected to have a Material Adverse
Effect: 
  
 (a) During the five-year period prior to the date on
which this representation is made or deemed made: (i) no ERISA Event has occurred, and, to the knowledge of any Responsible Officer of any Credit Party, no event or condition has occurred or exists as a result of which any ERISA Event could
reasonably be 

  

 52 

 
expected to occur, with respect to any Plan; (ii) no “accumulated funding deficiency,” as such term is defined in Section 302 of ERISA and Section
412 of the Internal Revenue Code, whether or not waived, has occurred with respect to any Plan; (iii) each Plan has been maintained, operated, and funded in compliance with its own terms and in material compliance with the provisions of ERISA, the
Internal Revenue Code, and any other applicable federal or state laws; and (iv) no Lien in favor of the PBGC or a Plan has arisen or is reasonably likely to arise on account of any Plan. 
  
 (b) The actuarial present value of all “benefit liabilities” (as defined in Section 4001(a)(16) of ERISA), whether
or not vested, under each Single Employer Plan, as of the last annual valuation date prior to the date on which this representation is made or deemed made (determined, in each case, in accordance with Financial Accounting Standards Board Statement
87, utilizing the actuarial assumptions used in such Plan’s most recent actuarial valuation report), did not exceed as of such valuation date the fair market value of the assets of such Plan. 
  
 (c) Neither the Borrowers nor any ERISA Affiliate has incurred any withdrawal
liability under ERISA to any Multiemployer Plan or Multiple Employer Plan and, to the knowledge of any Responsible Officer of any Credit Party, neither the Borrowers nor any ERISA Affiliate expects to withdraw from a Multiemployer Plan or Multiple
Employer Plan. Neither the Borrowers nor any ERISA Affiliate would become subject to any withdrawal liability under ERISA if any member of the Consolidated Group or any ERISA Affiliate were to withdraw completely from all Multiemployer Plans and
Multiple Employer Plans as of the valuation date most closely preceding the date on which this representation is made or deemed made. Neither the Borrowers nor any ERISA Affiliate has received any notification that any Multiemployer Plan is in
reorganization (within the meaning of Section 4241 of ERISA), is insolvent (within the meaning of Section 4245 of ERISA), or has been terminated (within the meaning of Title IV of ERISA), and no Multiemployer Plan is, to the knowledge of any
Responsible Officer of any Credit Party, reasonably expected to be in reorganization, insolvent, or terminated. 
  
 (d) No member of the Consolidated Group nor any ERISA Affiliates has any material liability with respect to “expected post-retirement benefit
obligations” within the meaning of the Financial Accounting Standards Board Statement 106. Each Plan which is “an employee welfare benefit plan” (as defined in Section 3(1) of ERISA) maintained by the Parent or any ERISA Affiliate to
which Sections 601-609 of ERISA and Section 4980B of the Internal Revenue Code apply has been administered in compliance in all material respects of such sections. 
  
 (e) Neither the execution and delivery of this Credit Agreement nor the consummation of the financing transactions
contemplated thereunder will involve any transaction which is prohibited by Section 406 or 407 of ERISA or Section 404 of ERISA (to the extent that it relates to transactions prohibited by Sections 406 or 407 of ERISA) or in connection with which a
tax could be imposed pursuant to Section 4975 of the Internal Revenue Code. The representation by the Credit Parties in the preceding sentence is made in reliance upon and subject to the accuracy of the Banks’ representation in Section 11.15
with respect to their source of funds. 
  
 To the extent any of the foregoing
representations include Multiemployer Plans or Multiple Employer Plans, each such representation shall be based on the knowledge of any Responsible Officer of any Credit Party. 
  
 6.17 Subsidiaries. 
  

(a) Set forth on Schedule 6.17 is each Subsidiary of the Parent, including the jurisdiction of organization, ownership and ownership percentages
thereof. The outstanding shares of Capital Stock of each Subsidiary have been validly issued, fully paid and are non-assessable and owned free of Liens other than 

  

 53 

 
Permitted Liens. The outstanding shares of Capital Stock of each Subsidiary have been validly issued and fully paid and are non-assessable and owned by the
Person(s) identified on Schedule 6.17, directly or indirectly, free of any Liens other than Permitted Liens. 
  
 (b) The Non-Guarantor Subsidiaries (not including any Securitization Subsidiary), as a group, do not exceed the Threshold Requirement. 
  
 6.18 Use of Proceeds; Margin Stock. 
  
 (a) The proceeds of the Loans and other Extensions of Credit will be used by
the Borrowers solely to finance working capital, capital expenditures and other general corporate purposes (including, without limitation, Acquisitions permitted hereunder) of the Parent and its Subsidiaries (to the extent not inconsistent with the
Credit Parties’ covenants and obligations under this Credit Agreement and the other Credit Documents). 
  
 (b) None of the transactions contemplated by this Credit Agreement (including, without limitation, the direct or indirect use of the proceeds of the
Loans) will violate or result in a violation of the Securities Act of 1933, as amended, or the regulations issued pursuant thereto, or the Securities Exchange Act of 1934, as amended, or regulations issued pursuant thereto, or Regulation T, U or X.
“Margin Stock” within the meanings of Regulation U does not constitute more than 25% of the value of the consolidated assets of the Parent and its Subsidiaries. 
  
 6.19 Government Regulation. 
  
 No Credit Party is subject to regulation under the Public Utility Holding Company Act of 1935, the Federal Power Act, the
Investment Company Act of 1940 or the Interstate Commerce Act, each as amended. In addition, no Credit Party is (i) an “investment company” registered or required to be registered under the Investment Company Act of 1940, as amended, or is
controlled by such a company, or (ii) a “holding company,” or a “subsidiary company” of a “holding company,” or an “affiliate” of a “holding company” or of a “subsidiary” or a “holding
company,” within the meaning of the Public Utility Holding Company Act of 1935, as amended. 
  
 6.20 Environmental Matters. 
  
 Except as could not reasonably be expected to have a Material Adverse Effect: 
  
 (a) Each of the facilities and properties owned, leased or operated by the members of the Consolidated Group (the
“Subject Properties”) and all operations at the Subject Properties are in compliance with all applicable Environmental Laws, and there is no violation of any Environmental Law with respect to the Subject Properties or the businesses
operated by the members of the Consolidated Group (the “Businesses”), and, to the knowledge of any Responsible Officer of any Credit Party, there are no conditions relating to the Businesses or Subject Properties that could give
rise to liability under any applicable Environmental Laws. 
  
 (b)
None of the Subject Properties contains, or, to the knowledge of any Responsible Officer of any Credit Party, has previously contained, any Materials of Environmental Concern at, on or under the Subject Properties in amounts or concentrations that
constitute or constituted a violation of, or could give rise to liability under, Environmental Laws. 
  
 (c) None of the members of the Consolidated Group has received any written notice of, or inquiry from any Governmental Authority regarding, any violation,
alleged violation, non-compliance, 

  

 54 

 
liability or potential liability regarding environmental matters or compliance with Environmental Laws with regard to any of the Subject Properties or the
Businesses, nor does any Responsible Officer of any member of the Consolidated Group have knowledge or reason to believe that any such notice will be received or is being threatened. 
  
 (d) Materials of Environmental Concern have not been transported or disposed of from the Subject Properties, or generated,
treated, stored or disposed of at, on or under any of the Subject Properties or any other location, in each case by or on behalf any members of the Consolidated Group in violation of, or in a manner that would be reasonably likely to give rise to
liability under, any applicable Environmental Law. 
  
 (e) No
judicial proceeding or governmental or administrative action is pending or, to the knowledge of any Responsible Officer of any Credit Party, threatened, under any Environmental Law to which any member of the Consolidated Group is or will be named as
a party, nor are there any consent decrees or other decrees, consent orders, administrative orders or other orders, or other administrative or judicial requirements outstanding under any Environmental Law with respect to any member of the
Consolidated Group, the Subject Properties or the Businesses. 
  
 (f) There has been no release or, threat of release of Materials of Environmental Concern at or from the Subject Properties, or arising from or related to the operations (including, without limitation, disposal) of any member of the
Consolidated Group in connection with the Subject Properties or otherwise in connection with the Businesses, in violation of or in amounts or in a manner that could give rise to liability under Environmental Laws. 
  
 6.21 Intellectual Property, Franchises, etc. 
  
 Except as could not reasonably be expected to have a Material Adverse
Effect: 
  
 (a) Each member of the Consolidated Group owns, or has
the legal right to use, all trademarks, tradenames, copyrights, patents, technology, know-how and processes, if any, that are necessary for the operation of its business as presently conducted and as proposed to be conducted (the
“Intellectual Property”). No claim is pending by any Person challenging or questioning the use of any Intellectual Property or the validity or effectiveness of any Intellectual Property, and, to the knowledge of any Responsible
Officer of any Credit Party, no such claim has been asserted. The use of Intellectual Property by the members of the Consolidated Group does not infringe on the rights of any Person. 
  
 (b) Each member of the Consolidated Group has obtained all material licenses, permits, franchises or other certifications,
consents, approvals and authorizations, governmental or private, necessary to the ownership of its Property and to the conduct of its business. 
  
 6.22 Investments. 
  
 No member of the Consolidated Group has any Investments except for Permitted Investments. 
  
 6.23 No Material Misstatements. 
  
 None of the information, reports, financial statements, exhibits or schedules, taken as a whole, furnished by or on behalf
of any member of the Consolidated Group to the Administrative Agent or any Bank in connection with the negotiation of the Credit Documents or included therein or delivered pursuant thereto contained any material misstatement of fact or omitted to
state any material fact necessary to make the statements therein, in light of the circumstances under which they were made, not 

  

 55 

 
materially misleading, provided that to the extent any such information, report, financial statement, exhibit or schedule was based upon or
constitutes a forecast or projection, each Credit Party represents only that it acted in good faith and utilized reasonable assumptions and due care in the preparation of such information, report, financial statement, exhibit or schedule.

  
 6.24 Labor Matters. 
  
 Except as could not reasonably be expected to have a Material Adverse
Effect, 
  
 (i) There are no strikes or lockouts
against any member of the Consolidated Group pending or, to the knowledge of any Responsible Officer of any Credit Party, threatened; 
  
 (ii) the hours worked by and payments made to employees of each member of the Consolidated Group have not been in violation of the Fair
Labor Standards Act or any other applicable federal, state, local or foreign law dealing with such matters; 
  
 (iii) all payments due from each member of the Consolidated Group, or for which any claim may be made against any member of the
Consolidated Group, on account of wages and employee health and welfare insurance and other benefits, have been paid or accrued as a liability on the books of the respective member of the Consolidated Group; and 
  
 (iv) no member of the Consolidated Group is party to a
collective bargaining agreement. 
  
 SECTION 7 

 
 AFFIRMATIVE COVENANTS 
  
 Each Credit Party hereby covenants and agrees that so long as any Credit
Document is in effect or any amounts payable under any of the Credit Documents are outstanding or any Letter of Credit is outstanding, and until the Commitments shall have terminated: 
  
 7.1 Information Covenants. 
  
 The Credit Parties will furnish, or cause to be furnished, to the Administrative Agent and each Bank: 
  
 (a) Annual Financial Statements. As soon as available and in any event
within 95 days (or within five days of such other time period required by the Securities and Exchange Commission) after the close of each fiscal year of the Parent, a consolidated balance sheet of the Parent and its Subsidiaries as at the end of
such fiscal year, together with related consolidated statements of income and of cash flows for such fiscal year, setting forth in comparative form consolidated figures for the preceding fiscal year, all in reasonable detail and examined by KPMG
LLP, or other independent certified public accountants of recognized national standing reasonably acceptable to the Required Banks and whose opinion shall be to the effect that such consolidated financial statements have been prepared in accordance
with GAAP applied on a consistent basis (except for changes with which such accountants concur). 
  
 (b) Quarterly Financial Statements. As soon as available and in any event within 50 days (or within five days of such other time period required by
the Securities and Exchange Commission) after the end of each of the first three fiscal quarters of the Parent, (i) a consolidated balance sheet of the Parent 

  

 56 

 
and its Subsidiaries as at the end of such fiscal quarter, together with related consolidated statements of income and of cash flows, (ii) a condensed
consolidating balance sheet of the Guarantors as at the end of such fiscal quarter, together with related condensed consolidating statements of operations and of cash flows, and (iii) a condensed consolidating balance sheet of the Non-Guarantor
Subsidiaries as at the end of such fiscal quarter, together with a related condensed consolidating statement of operations and of cash flows, in each case for such fiscal quarter and for the portion of the fiscal year ending with such period (except
that the consolidated and condensed consolidating statements of cash flows which shall be prepared on a year to date basis) and in each case setting forth in comparative form consolidated figures for the corresponding period of the preceding fiscal
year (except that the consolidated and condensed consolidating balance sheets shall be compared to the prior year end), and all in reasonable form and detail acceptable to the Required Banks, and accompanied by a certificate of the chief financial
officer, treasurer, controller or chief accounting officer of the Parent, to the effect that, to the best of his or her knowledge and belief, all such financial statements are true and correct in all material respects and have been prepared in
accordance with GAAP applied on a consistent basis, subject to changes resulting from normal year-end audit adjustments. 
  
 (c) Borrowing Base Certificates. As soon as practicable and in any event within 15 days after the end of each fiscal quarter of the Parent, a
statement of the Borrowing Base and its components as of the end of the immediately preceding fiscal quarter, substantially in the form of Schedule 7.1(c) hereto, certified by the chief financial officer, treasurer, controller or chief
accounting officer of the Parent as being, to the best of his or her knowledge and belief, true and correct in all material respects as of such date (each a “Borrowing Base Certificate”). 
  
 (d) Officer’s Certificate. At the time of delivery of the
financial statements provided for in Sections 7.1(a) and (b), a certificate of the chief financial officer, treasurer, controller or chief accounting officer of the Parent substantially in the form of Schedule 7.1(d) to the effect that no
Default or Event of Default exists, or if any Default or Event of Default does exist specifying the nature and extent thereof and what action the Borrowers or the Parent proposes to take with respect thereto. In addition, the Officer’s
Certificate shall demonstrate compliance with the financial covenants contained in Section 7.10 by calculation thereof as of the end of each such fiscal period. 
  

(e) Accountant’s Certificate. Within the period for delivery of the annual financial statements provided in Section 7.1(a), a certificate
of the accountants conducting the annual audit stating that they have reviewed this Credit Agreement and stating further whether, in the course of their audit, they have become aware of any Default or Event of Default arising as a result of a
violation of the financial covenants contained in Section 7.10 and, if any such Default or Event of Default exists, specifying the nature and extent thereof. 
  
 (f) SEC and Other Reports. Promptly upon transmission or receipt thereof, (i) copies of all registration statements (excluding the exhibits thereto
and any registration statements on Form S-8 or its equivalent), reports on Forms 10-K, 10-Q and 8-K (or their equivalents) and all other periodic reports which any member of the Consolidated Group shall file with the Securities and Exchange
Commission, or any successor agency and (ii) copies of all reports and written information to and from the United States Environmental Protection Agency, or any state or local agency responsible for environmental matters, the United States
Occupational Health and Safety Administration, or any state or local agency responsible for health and safety matters, or any successor agencies or authorities concerning environmental, health or safety matters. 
  

 57 

 (g) Notice of Default or Litigation. Upon any Responsible Officer of any Credit Party obtaining
knowledge thereof, the Credit Parties will give written notice to the Administrative Agent (i) immediately, but in any event within three (3) Business Days, of the occurrence of an event or condition consisting of a Default or Event of Default,
specifying the nature and existence thereof and what action the Borrowers or the Parent proposes to take with respect thereto, and (ii) promptly, but in any event within five (5) Business Days, of the occurrence of any of the following with respect
to any member of the Consolidated Group: (A) the pendency or commencement of any litigation, arbitration or governmental proceeding against any member of the Consolidated Group which if adversely determined could reasonably be expected to have a
Material Adverse Effect, (B) the occurrence of an event or condition which shall constitute a default or event of default under any Indebtedness of any member of the Consolidated Group which, if accelerated as a result of such event of default could
reasonably be expected to have a Material Adverse Effect, or (C) any development in its business or affairs which has resulted in, or which any Credit Party reasonably believes may result in, a Material Adverse Effect. 
  
 (h) ERISA. Upon any Responsible Officer of any Credit Party obtaining
knowledge thereof, the Credit Parties will give written notice to the Administrative Agent promptly (and in any event within ten (10) Business Days) of: (i) any event or condition, including, but not limited to, any Reportable Event, that
constitutes, or might reasonably lead to, an ERISA Event; (ii) with respect to any Multiemployer Plan, the receipt of notice as prescribed in ERISA or otherwise of any withdrawal liability assessed against the Credit Parties or any ERISA Affiliates,
or of a determination that any Multiemployer Plan is in reorganization or insolvent (both within the meaning of Title IV of ERISA) which, in either case, could result in a liability of at least $5,000,000; (iii) the failure to make full payment on
or before the due date (including extensions) thereof of all amounts which any member of the Consolidated Group or any ERISA Affiliate is required to contribute to each Plan pursuant to its terms and as required to meet the minimum funding standard
set forth in ERISA and the Internal Revenue Code with respect thereto which could result in a liability of at least $5,000,000; or (iv) any change in the funding status of any Plan that could reasonably be expected to have a Material Adverse Effect,
together with a description of any such event or condition or a copy of any such notice and a statement by an Executive Officer of the Parent briefly setting forth the details regarding such event, condition, or notice, and the action, if any, which
has been or is being taken or is proposed to be taken by the Credit Parties with respect thereto. Promptly upon request, the Credit Parties shall furnish the Administrative Agent and the Banks with such additional information concerning any Plan as
may be reasonably requested, including, but not limited to, copies of each annual report/return (Form 5500 series), as well as all schedules and attachments thereto required to be filed with the Department of Labor and/or the Internal Revenue
Service pursuant to ERISA and the Internal Revenue Code, respectively, for each “plan year” (within the meaning of Section 3(39) of ERISA). 
  
 (i) Environmental. 
  
 (i) Upon the reasonable written request of the Administrative Agent following the occurrence of any event or the discovery of any
condition which the Administrative Agent or the Required Banks reasonably believe has caused (or could reasonably be expected to cause) the representations and warranties set forth in Section 6.20 to be untrue in any material respect, the Credit
Parties will furnish or cause to be furnished to the Administrative Agent, at the Credit Parties’ expense, a report of an environmental assessment of reasonable scope, form and depth (including, where appropriate, invasive soil or groundwater
sampling) by a consultant reasonably acceptable to the Administrative Agent as to the nature and extent of the presence of any Materials of Environmental Concern on any Subject Properties (as defined in Section 6.20) and as to the compliance by any
member of the Consolidated Group with Environmental Laws at such Subject Properties. If the Credit Parties fail to deliver such an environmental report within seventy-five (75) days after receipt of such written request then the Administrative Agent
may arrange for same, and the members of the Consolidated Group hereby grant to the Administrative Agent and their 

  

 58 

 
representatives access to the Subject Properties to reasonably undertake such an assessment (including, where appropriate, invasive soil or groundwater
sampling). The reasonable cost of any assessment arranged for by the Administrative Agent pursuant to this provision will be payable by the Credit Parties on demand. 
  
 (ii) The members of the Consolidated Group will conduct and complete all investigations, studies, sampling,
and testing and all remedial, removal, and other actions necessary to address all Materials of Environmental Concern on, from or affecting any of the Subject Properties to the extent necessary to be in compliance with all Environmental Laws and with
the validly issued orders and directives of all Governmental Authorities with jurisdiction over such Subject Properties to the extent any failure could reasonably be expected to have a Material Adverse Effect. 
  
 (j) Other Information. With reasonable promptness upon any such
request, such other information regarding the business, properties or financial condition of the Parent and its Subsidiaries as the Administrative Agent or any Bank may reasonably request. 
  
 7.2 Preservation of Existence and Franchises. 
  
 Except as otherwise permitted under Section 8.5 and except as could not
reasonably be expected to have a Material Adverse Effect, each Credit Party will, and will cause each of its Subsidiaries to, do all things necessary to preserve and keep in full force and effect its existence, rights, franchises and authority for
the normal conduct of its business. 
  
 7.3 Books, Records
and Inspections. 
  
 (a) Each Credit Party will, and will
cause each of its Subsidiaries to, keep complete and accurate books and records of its transactions in accordance with good accounting practices on the basis of GAAP applied on a consistent basis (including the establishment and maintenance of
appropriate reserves). 
  
 (b) Each Credit Party will, and will
cause each of its Subsidiaries to, permit, upon reasonable notice and during normal business hours, officers or designated representatives of the Administrative Agent or any Bank (including, without limitation, independent accountants, agents,
attorneys and appraisers) to visit and inspect its Property, including its books of account and records, its accounts receivable and inventory, its facilities and other business assets, and to discuss the affairs, finances and accounts of such
Person with, and be advised as to the same by, the officers, directors and independent accountants of such Person. 
  
 7.4 Compliance with Law. 
  
 Each Credit Party will, and will cause each of its Subsidiaries to, comply with all Requirements of Law to the extent that noncompliance could reasonably
be expected to have a Material Adverse Effect. 
  
 7.5
Payment of Taxes and Other Indebtedness. 
  
 Each
Credit Party will, and will cause each of its Subsidiaries to, pay and discharge (i) all material taxes, assessments and governmental charges or levies imposed upon it, or upon its income or profits, or upon any of its Property, before they shall
become delinquent, (ii) all lawful claims (including claims for labor, materials and supplies) which, if unpaid, might give rise to a Lien or charge upon any of its properties, and (iii) except as prohibited hereunder, all of its other Indebtedness
as it shall become due; provided, however, that no member of the Consolidated Group shall be required to pay any such tax, 

  

 59 

 
assessment, charge, levy, claim or Indebtedness which is being contested in good faith by appropriate proceedings for which adequate reserves therefor have
been established in accordance with GAAP, unless the failure to make any such payment (a) shall give rise to an immediate right to foreclosure on a Lien securing such amounts or (b) otherwise could reasonably be expected to have a Material
Adverse Effect. 
  
 7.6 Insurance. 
  
 Each Credit Party will, and will cause each of its Subsidiaries to, at all
times maintain in full force and effect insurance (including worker’s compensation insurance, liability insurance, casualty insurance and business interruption insurance) with financially sound and reputable insurance companies in such amounts,
covering such risks and liabilities and with such deductibles or self-insurance retentions as are in accordance with normal industry practice. Each Credit Party will, and will cause each of its Subsidiaries to, furnish to the Administrative Agent
and the Banks, upon written request, full information as to insurance carried. 
  
 7.7 Maintenance of Property. 
  
 Each Credit Party will, and will cause each of its Subsidiaries to, maintain and preserve its Property used or useful in any material portion of its business in good repair, working order and condition, normal wear
and tear, obsolescence and replacement excepted, and will make, or cause to be made, from time to time all repairs, renewals, replacements, extensions, additions, betterments and improvements to its Property as may be needed or proper, to the extent
and in the manner customary for companies in similar businesses. 
  
 7.8 Performance of Obligations. 
  
 Each
Credit Party will, and will cause each of its Subsidiaries to, perform all of its obligations (including, except as may be otherwise prohibited or contemplated hereunder, payment of Indebtedness in accordance with its terms) under the terms of all
agreements, indentures, mortgages, security agreements or other debt instruments to which it is a party or by which it is bound if the failure to do so could reasonably be expected to have a Material Adverse Effect. 
  
 7.9 Use of Proceeds. 
  
 The Borrowers will use the proceeds of the Extensions of Credit solely for
the purposes set forth in Section 6.18(a). 
  
 7.10
Financial Covenants. 
  
 (a) Consolidated Net
Worth. The Parent will maintain at all times Consolidated Net Worth of not less than the sum of (i) $349,000,000 plus (ii) as of the end of each fiscal quarter beginning with the fiscal quarter ended March 31, 2004, an amount equal to
fifty percent (50%) of Consolidated Net Income (to the extent positive) for such fiscal quarter, such increases to be cumulative, plus (iii) an amount equal to one hundred percent (100%) of the net proceeds from Equity Transactions occurring
after the Closing Date. 
  
 (b) Consolidated Total Leverage
Ratio. As of the end of each fiscal quarter of the Parent, the Consolidated Total Leverage Ratio shall not be greater than 3.25:1.0. 
  
 (c) Consolidated Fixed Charge Coverage Ratio. As of the end of each fiscal quarter of the Parent, the Consolidated Fixed Charge Coverage Ratio
shall not be less than 1.5:1.0. 
  

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 7.11 Additional Credit Parties. 
  
 (a) Additional Subsidiaries. At any time that the Non-Guarantor
Subsidiaries shall, as a group, (i) account for more than five percent (5%) of the gross revenues of the members of the Consolidated Group on a consolidated basis determined in accordance with GAAP, (ii) account for more than five percent (5%) of
net income of the members of the Consolidated Group on a consolidated basis determined in accordance with GAAP, or (iii) constitute more than five percent (5%) of Consolidated Total Assets (each a “Threshold Requirement”), the
Borrower Representative will (A) promptly notify the Administrative Agent and the Banks thereof, (B) within 45 days thereafter, cause one or more of the Non-Guarantor Subsidiaries to become a “Guarantor” hereunder by way of execution of a
Joinder Agreement such that immediately thereafter the remaining Non-Guarantor Subsidiaries shall not, as a group, exceed any Threshold Requirement and (C) deliver such other documentation as the Administrative Agent may reasonably request in
connection with the foregoing, including, without limitation, certified resolutions and other organizational and authorizing documents of such Person, good standing certificates and favorable opinions of counsel to such Person, all in form, content
and scope reasonably satisfactory to the Administrative Agent. The Borrower Representative may at any time, at its option, cause a Non-Guarantor Subsidiary to execute and deliver to the Administrative Agent a Joinder Agreement. 
  
 (b) Guaranties Relating to Other Debt. If any Non-Guarantor Subsidiary
shall give a guaranty or become obligated under Support Obligations relating to any Indebtedness (including, without limitation, the Senior Subordinated Notes), the Borrower Representative will (A) promptly notify the Administrative Agent and each
Bank thereof and (B) within 45 days thereafter, cause one or more of the Non-Guarantor Subsidiaries to become a “Guarantor” hereunder by way of execution of a Joinder Agreement. 
  
 SECTION 8 
  
 NEGATIVE COVENANTS 
  
 Each Credit Party hereby covenants and agrees that so long as any Credit Document is in effect or any amounts payable under any of the Credit Documents
are outstanding or any Letter of Credit is outstanding, and until the Commitments shall have terminated: 
  
 8.1 Indebtedness. 
  
 The Credit Parties will not permit any member of the Consolidated Group to contract, create, incur, assume or permit to exist any Indebtedness, except:

  
 (a) Indebtedness arising under this Credit Agreement and the
other Credit Documents; 
  
 (b) Indebtedness existing as of the
Closing Date and set forth on Schedule 8.1(b) (and renewals, refinancings or extensions thereof on terms and conditions no less favorable to the members of the Consolidated Group than such existing Indebtedness (taking into account reasonable
market conditions existing at such time) and in a principal amount not in excess of that outstanding as of the date of such renewal, refinancing or extension); 
  

(c) Indebtedness (including purchase money Indebtedness and obligations under Capital Leases) incurred to finance the purchase or lease of fixed assets
provided that (i) the total of all such Indebtedness shall not exceed an aggregate principal amount of $10,000,000 at any one time outstanding; 

  

 61 

 
(ii) such Indebtedness when incurred shall not exceed the purchase price of the asset financed; and (iii) no such Indebtedness shall be refinanced for a
principal amount in excess of the principal balance outstanding thereon at the time of such refinancing; and 
  
 (d) (i) Indebtedness evidenced by the Senior Subordinated Notes (and renewals, refinancings or extensions thereof on terms and conditions no less
favorable to the members of the Consolidated Group than such existing Indebtedness (taking into account reasonable market conditions existing at such time) and in a principal amount not in excess of that outstanding as of the date of such renewal,
refinancing or extension) and (ii) other Subordinated Debt acceptable to the Required Banks in their sole discretion. 
  
 (e) unsecured intercompany Indebtedness owing by a Credit Party to another Credit Party (subject to the limitations set forth in Section 8.6 in the case
of the Credit Party extending the Indebtedness); 
  
 (f)
Indebtedness under Qualified Securitization Transactions in an aggregate principal amount not to exceed $300,000,000 at any time outstanding; 
  
 (g) obligations owing under interest rate, commodities and foreign currency exchange protection agreements entered into in the ordinary course of business
to manage existing or anticipated risks and not for speculative purposes; 
  
 (h) other unsecured Funded Debt of the members of the Consolidated Group which does not exceed $15,000,000 in the aggregate at any time outstanding; 
  
 (i) except as expressly provided otherwise herein, Support Obligations of any member of the Consolidated Group with respect
to any Indebtedness of any member of the Consolidated Group permitted under this Section 8.1; and 
  
 (j) in addition to the Indebtedness set forth in clauses (c) and (h) above, secured or unsecured Indebtedness incurred to finance the acquisition
(including by way of obligations under Capital Leases) and construction of a new headquarters facility in an amount not to exceed $40,000,000. 
  
 8.2 Liens. 
  
 The Credit Parties will not permit any member of the Consolidated Group to contract, create, incur, assume or permit to exist any Lien with respect to any
of its Property, whether now owned or after acquired, except for Permitted Liens. 
  
 8.3 Nature of Business. 
  
 The Credit Parties will not permit any member of the Consolidated Group to substantively alter the character of its business in any material respect from that conducted as of the Closing Date. 
  
 8.4 Consolidation, Merger, Sale or Purchase of Assets, etc.

  
 (a) The Credit Parties will not permit any member of the
Consolidated Group to enter into any transaction of merger or consolidation, except that 
  
 (i) a member of the Consolidated Group may be party to a transaction of merger or consolidation with another member of the Consolidated
Group, provided that (A) if either of the 

  

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Borrowers is a party to such transaction, a Borrower shall be the surviving entity (except in the case of a merger or consolidation of a Borrower with the
Parent), (B) if a Guarantor is a party to such transaction and the Borrowers are not a party to such transaction, a Guarantor shall be the surviving entity, and (C) in all other cases, if a Domestic Subsidiary is a party to such transaction, a
Domestic Subsidiary shall be the surviving entity and such Domestic Subsidiary shall take such actions as may be necessary for compliance with the provisions of Section 7.11; 
  
 (ii) a Subsidiary may be a party to a transaction of merger or consolidation with a Person other than a
member of the Consolidated Group, provided that (A) the surviving entity shall be a Subsidiary and shall take such actions as may be necessary for compliance with the provisions of Section 7.11, (B) no Default or Event of Default shall exist
immediately after giving effect thereto, and (C) the transaction shall otherwise be permitted under Section 8.4(b); and 
  
 (iii) a Subsidiary may enter into a transaction of merger or consolidation in connection with an Asset Disposition permitted under Section
8.5. 
  
 (b) No member of the Consolidated Group shall make any
Acquisition, unless: 
  
 (i) if the Acquisition
is of Capital Stock of another Person and after giving effect to the Acquisition the Person that is the subject of the Acquisition will not be a Subsidiary, the Acquisition is permitted under Section 8.6; and 
  
 (ii) if (A) the Acquisition is of Capital Stock of another
Person and after giving effect to the Acquisition the Person that is the subject of the Acquisition will be a Subsidiary or (B) the Acquisition is of all or any substantial portion of the Property of another Person, the Acquisition meets the
following conditions: 
  
 (I) the Person or
Property which is the subject of such Acquisition shall be in the same or similar line of business (or related thereto) as the members of the Consolidated Group which are parties thereto; 
  
 (II) in the case of a merger or consolidation, and in other
cases where appropriate, the board of directors or other governing body of the other Person which is the subject of the transaction of merger or consolidation shall have approved such Acquisition; 
  
 (III) no Default or Event of Default shall exist immediately
after giving effect to such Acquisition; 
  
 (IV)
the Borrower Representative shall have delivered to the Administrative Agent a Pro Forma Compliance Certificate demonstrating that, upon giving effect to such Acquisition on a Pro Forma Basis, the Credit Parties shall be in compliance with all of
the covenants set forth in Section 7.10; 
  
 (V)
if the Acquisition involves an interest in a partnership and a requirement that a member of the Consolidated Group be a general partner, the general partner shall be a newly formed special purpose Subsidiary; 
  
 (VI) the Credit Parties shall, and shall cause the party
which is the subject of the Acquisition to, take such actions as may be necessary for compliance with the provisions of Sections 7.11; 
  

 63 

 (VII) in the case of Acquisitions of Foreign Property and Acquisitions of Capital Stock
of a Foreign Person, the Total Consideration paid in connection with all such Acquisitions shall not exceed $15,000,000 in the aggregate; and 
  
 (VIII) in the case of the Acquisition of Domestic Property and Acquisitions of Capital Stock of a Domestic Person, unless the Borrower
Representative has delivered to the Administrative Agent a Pro Forma Compliance Certificate demonstrating that the Consolidated Senior Leverage Ratio on a Pro Forma Basis after giving effect to any such Acquisition is less than 2.50:1.0, the Total
Consideration paid in connection with any such Acquisition (or series of related Acquisitions) shall not exceed $25,000,000. 
  
 8.5 Asset Dispositions. 
  
 The Credit Parties will not permit any member of the Consolidated Group to make any Asset Disposition, except 
  
 (i) the sale, lease or other disposition to a Domestic
Subsidiary; or 
  
 (ii) the sale, lease or
disposition of machinery and equipment if the proceeds of such sale, lease or other disposition are reinvested within ninety (90) days in the same or similar Property; or 
  
 (iii) in all other cases, (A) at least seventy-five percent (75%) of the consideration paid therefor shall
consist of cash or Cash Equivalents, (B) the aggregate net book value of all assets sold, leased or otherwise disposed of in any fiscal year shall not exceed an amount equal to five percent (5%) of Consolidated Total Assets as of the end of the
immediately preceding fiscal year, (D) no Default or Event of Default shall exist immediately after giving effect thereto, and (E) if the aggregate net book value of the assets sold, leased or otherwise disposed of in any single disposition (or in
any series of related dispositions) exceeds $5,000,000, the Borrower Representative shall have demonstrated compliance with the financial covenants hereunder on a Pro Forma Basis after giving effect to the disposition and shall have delivered to the
Administrative Agent a Pro Forma Compliance Certificate (including reaffirmation of the representations and warranties hereunder as of such date before and after giving effect to such transaction) demonstrating that, upon giving effect to such Asset
Disposition on a Pro Forma Basis, the Credit Parties shall be in compliance with all of the covenants set forth in Section 7.10; or 
  
 (iv) the sale, lease or other disposition of property in connection with the acquisition and construction of a new headquarters facility
in an amount not to exceed $40,000,000. 
  
 8.6 Advances,
Investments and Loans. 
  
 The Credit Parties will not
permit any member of the Consolidated Group to make any Investment in or to any Person except for Permitted Investments. 
  
 8.7 Prepayments and Amendments Relating to Other Debt. 
  
 Without the prior written consent of the Required Banks, the Credit Parties will not permit any member of the Consolidated
Group to: 
  
 (a) after the issuance thereof, amend or modify, or
permit any amendment to or modification of, any of the terms of any Funded Debt (including any Subordinated Debt) in a manner materially adverse to the interests of the Banks; 
  

 64 

 (b) make any payment, prepayment, redemption, defeasance or acquisition for value (including without
limitation by way of deposit of money or securities with a trustee with respect thereto before due for the purpose of paying when due) of, or refund, refinance or exchange, any Funded Debt (including any Subordinated Debt) other than, so long as no
Default or Event of Default exists immediately prior thereto or would exist immediately after giving effect thereto: 
  
 (i) regularly scheduled non-default principal payments on the Senior Subordinated Notes; 
  
 (ii) regularly scheduled non-default interest payments on
the Senior Subordinated Notes; 
  
 (iii)
prepayments in respect of obligations under Capital Leases not to exceed $10,000,000 in the aggregate in any fiscal year; 
  
 (iv) prepayments and redemptions of the Senior Subordinated Notes provided that, prior to the making of any such prepayment or redemption,
the Borrower Representative shall have delivered to the Administrative Agent a Pro Forma Compliance Certificate (including reaffirmation of the representations and warranties hereunder as of such date before and after giving effect to such
transaction) demonstrating that, upon giving effect to such prepayment or redemption on a Pro Forma Basis, (A) the Credit Parties shall be in compliance with all of the covenants set forth in Section 7.10 and (B) the Consolidated Senior Leverage
Ratio is less than 2.50:1.0; and 
  
 (v)
refinancing of the Senior Subordinated Notes to the extent permitted by Section 8.1(d)(i). 
  
 8.8 Transactions with Affiliates. 
  
 The Credit Parties will not permit any member of the Consolidated Group to enter into any transaction or series of transactions, whether or not in the ordinary course of business, with any officer, director,
shareholder, Subsidiary or Affiliate of such Person other than (a) transactions among the Credit Parties, (b) normal compensation and reimbursement of expenses of officers and directors, (c) transactions relating to a Qualified Securitization
Transaction and (d) except as otherwise specifically limited in this Credit Agreement, other transactions which are entered into in the ordinary course of such Person’s business on terms and conditions substantially as favorable to such Person
as would be obtainable by it in a comparable arms-length transaction with a Person other than an officer, director, shareholder, Subsidiary or Affiliate. 
  
 8.9 Ownership of Subsidiaries. 
  
 Except as permitted by Sections 8.4 and 8.5, the Credit Parties will not permit any member of the Consolidated Group to sell, transfer or otherwise
dispose of, any shares of Capital Stock of any Subsidiaries or permit any Subsidiaries to issue, sell or otherwise dispose of, any shares of Capital Stock of any Subsidiary to any Person other than the Parent, the Borrowers or a Subsidiary. The
Parent and the Borrowers will not create, form or acquire, nor will it permit any of its Subsidiaries to create, form or acquire, any Subsidiary, unless such Subsidiary is either (i) promptly joined as an Additional Credit Party 

  

 65 

 
pursuant to the requirements of Section 7.11, if such joinder is required thereby or (ii) a Securitization Subsidiary. 
  
 8.10 Fiscal Year. 
  
 The Credit Parties will not permit any member of the Consolidated Group to
change its fiscal year without the prior written consent of the Required Banks or to amend, modify or change its articles of incorporation (or corporate charter or other similar organizational document) or bylaws (or other similar document) in a
manner adverse to the interests of the Banks. 
  
 8.11
Subsidiary Dividends. 
  
 The Credit Parties will not
permit any member of the Consolidated Group to enter into, assume or otherwise become subject to, or permit any of their respective Subsidiaries (other than a Securitization Subsidiary pursuant to a Qualified Securitization Transaction permitted
hereunder) to enter into, assume or otherwise become subject to, any agreement prohibiting or otherwise restricting the payment of dividends by any of the Parent’s Subsidiaries (other than a Securitization Subsidiary pursuant to a Qualified
Securitization Transaction permitted hereunder), except as may be provided herein or in the indenture relating to the Senior Subordinated Notes. 
  
 8.12 Restricted Payments. 
  
 The Credit Parties will not make, or permit any member of the Consolidated Group to make, any Restricted Payment, unless (a) no Default or Event of
Default shall exist immediately prior thereto and immediately after giving effect thereto and (b) in the case of any Restricted Payment other than ordinary cash dividends, the Borrower Representative shall have delivered to the Administrative Agent
a Pro Forma Compliance Certificate (including reaffirmation of the representations and warranties hereunder as of such date before and after giving effect to such transaction) demonstrating that, upon giving effect to such Restricted Payment on a
Pro Forma Basis, the Credit Parties shall be in compliance with all of the covenants set forth in Section 7.10; provided, however, that if the Consolidated Total Leverage Ratio for the most recently tested fiscal quarter period is
greater than 1.75 to 1.0, the aggregate amount expended to redeem, repurchase, retire or otherwise acquire the Parent’s common stock during the Parent’s current fiscal year shall not exceed the greater of (i) $50,000,000 or (ii) the amount
of redemptions and repurchases previously incurred during such fiscal year. 
  
 SECTION 9 
  
 EVENTS
OF DEFAULT 
  
 9.1 Events of Default.

  
 An Event of Default shall exist upon the occurrence of
any of the following specified events (each an “Event of Default”): 
  
 (a) Payment. Any Credit Party shall 
  
 (i) default in the payment when due of any principal of any of the Loans or of any reimbursement obligations arising from drawings under Letters of Credit, or 
  

 66 

 (ii) default, and such default shall continue for three (3) or more Business Days, in the
payment when due of any interest on the Loans or on any reimbursement obligations arising from drawings under Letters of Credit, or of any Fees or other amounts owing hereunder, under any of the other Credit Documents or in connection herewith or
therewith; or 
  
 (b) Representations. Any representation,
warranty or statement made or deemed to be made by any Credit Party herein, in any of the other Credit Documents, or in any statement or certificate delivered or required to be delivered pursuant hereto or thereto shall prove untrue in any material
respect on the date as of which it was made or deemed to have been made; or 
  
 (c) Covenants. Any Credit Party shall 
  
 (i) default in the due performance or observance of any term, covenant or agreement contained in Sections 7.1(g), 7.9, 7.11 or 8.1 through 8.12, inclusive, or 
  
 (ii) default in the due performance or observance of any of
the financial covenants contained in Section 7.10 and the continuance thereof for a period of 15 days after knowledge thereof by a Responsible Officer of the Borrower Representative (but in no event later than 15 days after the date by which the
Borrower Representative is required to deliver annual or quarterly financial statements in accordance with Sections 7.1(a) and (b), as appropriate) without the Borrower Representative having obtained an effective waiver hereunder; or 
  
 (iii) default in the due performance or observance by it of
any term, covenant or agreement (other than those referred to in subsections (a), (b) or (c)(i) or (ii) of this Section 9.1) contained in this Credit Agreement or any other Credit Document and such default shall continue unremedied for a period of
at least 30 days after the earlier of a Responsible Officer becoming aware of such default or notice thereof by the Administrative Agent; provided, however, that if such default cannot be cured within such period, the Borrowers or
other Credit Party may have such additional period of time not to exceed 30 days after the expiration of such original 30 day period, and such default shall not constitute an Event of Default hereunder, so long as the applicable Credit Party shall
commence within such original 30 day period, and diligently pursue, appropriate curative efforts; or 
  
 (d) Other Credit Documents. Any Credit Document shall fail to be in full force and effect or to give the Administrative Agent and/or the Banks the
Liens, rights, powers and privileges purported to be created thereby, or any Credit Party shall so state in writing; or 
  
 (e) Guaranties. The guaranty given by any Guarantor (including any Additional Credit Party) hereunder or any material provision thereof shall cease
to be in full force and effect, or any Guarantor (including any Additional Credit Party) or any Person acting by or on behalf of such Guarantor shall deny or disaffirm such Guarantor’s obligations under such guaranty, or any Material Guarantor
(including any Additional Credit Party) shall default in the due performance or observance of any term, covenant or agreement on its part to be performed or observed pursuant to any guaranty; or 
  
 (f) Bankruptcy Event. Any Bankruptcy Event shall occur with respect to
any Borrower or any Material Guarantor; or 
  
 (g) Defaults
under Other Agreements. With respect to any Indebtedness (other than Indebtedness outstanding under this Credit Agreement) in excess of $10,000,000 in the aggregate for the members of the Consolidated Group, taken as a whole, (i) any member of
the Consolidated Group shall (A) default in any payment (beyond the applicable grace period with respect thereto, if any) with respect 

  

 67 

 
to any such Indebtedness, or (B) default in the observance or performance relating to such Indebtedness or contained in any instrument or agreement
evidencing, securing or relating thereto, or any other event or condition shall occur or condition exist, the effect of which default or other event or condition is to cause, or permit the holder or holders of such Indebtedness (or trustee or agent
on behalf of such holders) to cause, any such Indebtedness to become due prior to its stated maturity; or (ii) any such Indebtedness shall be declared due and payable, or required to be prepaid other than by a regularly scheduled required
prepayment, prior to the stated maturity thereof; or 
  
 (h)
Judgments. One or more judgments or decrees shall be entered against the any member of the Consolidated Group involving a liability of $500,000 or more in the aggregate (to the extent not paid or fully covered by insurance provided by a
carrier who has acknowledged coverage) and any such judgments or decrees shall not have been vacated, discharged or stayed or bonded pending appeal within 30 days from the entry thereof; or 
  
 (i) ERISA. Any of the following events or conditions, if such event or
condition is reasonably likely to result in the imposition of taxes, penalties, or other liabilities upon any Borrower or any ERISA Affiliate in an aggregate amount in excess of $5,000,000: (i) any “accumulated funding deficiency,” as such
term is defined in Section 302 of ERISA and Section 412 of the Internal Revenue Code, whether or not waived, shall exist with respect to any Single Employer Plan, or any lien shall arise on the assets of any Borrower or any ERISA Affiliate in favor
of the PBGC or a Plan; (ii) an ERISA Event shall occur with respect to a Single Employer Plan, which results in the termination of such Plan for purposes of Title IV of ERISA; (iii) an ERISA Event shall occur with respect to a Multiemployer Plan or
Multiple Employer Plan, which results in (A) the termination of such Plan for purposes of Title IV of ERISA, or (B) any Borrower or any ERISA Affiliate incurring any liability in connection with a withdrawal from, reorganization of (within the
meaning of Section 4241 of ERISA), or insolvency (within the meaning of Section 4245 of ERISA) of such Plan; or (iv) any prohibited transaction (within the meaning of Section 406 of ERISA or Section 4975 of the Internal Revenue Code) or breach of
fiduciary responsibility shall occur which subjects any Borrower or any ERISA Affiliate to any liability under Sections 406, 409, 502(i), or 502(l) of ERISA or Section 4975 of the Internal Revenue Code, or under any agreement or other instrument
pursuant to which any Borrower or any ERISA Affiliate has agreed or is required to indemnify any person against any such liability; or 
  
 (j) Ownership. There shall occur a Change of Control; or 
  

(k) Default under Senior Subordinated Notes. The occurrence and continuation of an event of default under the Senior Subordinated Notes; or

  
 (l) Default under Securitization Agreement. The
occurrence and continuation of an event of default under any of the Securitization Agreements. 
  
 9.2 Acceleration; Remedies. 
  
 Upon the occurrence of an Event of Default, and at any time thereafter unless and until such Event of Default has been waived by the requisite Banks (pursuant to the voting procedures in Section 11.6) or cured to the
satisfaction of the requisite Banks (pursuant to the voting procedures in Section 11.6), the Administrative Agent may, and upon the request and direction of the Required Banks shall, by written notice to the Borrower Representative take any of the
following actions without prejudice to the rights of the Administrative Agent or any Bank to enforce its claims against the Credit Parties, except as otherwise specifically provided for herein: 
  
 (i) Termination of Commitments. Declare the
Commitments terminated whereupon the Commitments shall be immediately terminated. 
  

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 (ii) Acceleration. Declare the unpaid principal of and any accrued interest in
respect of all Loans, any reimbursement obligations arising from drawings under Letters of Credit and any and all other indebtedness or obligations of any and every kind owing by the Credit Parties to the Administrative Agent and/or any of the Banks
hereunder to be due whereupon the same shall be immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Credit Parties. 
  
 (iii) Cash Collateral. Direct the Credit Parties to
pay (and the Credit Parties agree that upon receipt of such notice, or upon the occurrence of an Event of Default under Section 9.1(f), they will immediately pay) to the Administrative Agent additional cash, to be held by the Administrative Agent,
for the benefit of the Banks, in a cash collateral account as additional security for the LOC Obligations in respect of subsequent drawings under all then outstanding Letters of Credit in an amount equal to the maximum aggregate amount which may be
drawn under all Letters of Credits then outstanding. 
  
 (iv) Enforcement of Rights. Enforce any and all rights and interests created and existing under the Credit Documents including, without limitation, all rights and remedies against a Guarantor and all rights of set-off. 
  
 Notwithstanding the foregoing, if an Event of Default specified in Section 9.1(f) shall
occur, then the Commitments shall automatically terminate and all Loans, all accrued interest in respect thereof, all accrued and unpaid Fees and other indebtedness or obligations owing to the Banks hereunder shall immediately become due and payable
without the giving of any notice or other action by the Administrative Agent or the Banks. 
  
 SECTION 10 
  
 AGENCY
PROVISIONS 
  
 10.1 Appointment and Authorization of
Agent. 
  
 (a) Each Bank hereby irrevocably appoints,
designates and authorizes the Administrative Agent to take such action on its behalf under the provisions of this Credit Agreement and each other Credit Document and to exercise such powers and perform such duties as are expressly delegated to it by
the terms of this Credit Agreement or any other Credit Document, together with such powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary contained elsewhere herein or in any other Credit Document, the
Administrative Agent shall not have any duties or responsibilities, except those expressly set forth herein, nor shall the Administrative Agent have or be deemed to have any fiduciary relationship with any Bank or participant, and no implied
covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Credit Agreement or any other Credit Document or otherwise exist against the Administrative Agent. Without limiting the generality of the foregoing
sentence, the use of the term “agent” herein and in the other Credit Documents with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of
any applicable Law. Instead, such term is used merely as a matter of market custom, and is intended to create or reflect only an administrative relationship between independent contracting parties. 
  
 (b) The Issuing Bank shall act on behalf of the Banks with respect to any
Letters of Credit issued by it and the documents associated therewith, and the Issuing Bank shall have all of the benefits 

  

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and immunities (i) provided to the Administrative Agent in this Section 10 with respect to any acts taken or omissions suffered by the Issuing Bank in
connection with Letters of Credit issued by it or proposed to be issued by it and the applications and agreements for letters of credit pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in this
Section 10 and in the definition of “Agent-Related Person” included the Issuing Bank with respect to such acts or omissions, and (ii) as additionally provided herein with respect to the Issuing Bank. 
  
 10.2 Delegation of Duties. 
  
 The Administrative Agent may execute any of its duties under this Credit
Agreement or any other Credit Document by or through agents, employees or attorneys-in-fact and shall be entitled to advice of counsel and other consultants or experts concerning all matters pertaining to such duties. The Administrative Agent shall
not be responsible for the negligence or misconduct of any agent or attorney-in-fact that it selects in the absence of gross negligence or willful misconduct. 
  

10.3 Liability of Agent. 
  
 No Agent-Related Person shall (a) be liable for any action taken or omitted to be taken by any of them under or in connection with this Credit Agreement
or any other Credit Document or the transactions contemplated hereby (except for its own gross negligence or willful misconduct in connection with its duties expressly set forth herein), or (b) be responsible in any manner to any Bank or participant
for any recital, statement, representation or warranty made by any Credit Party or any officer thereof, contained herein or in any other Credit Document, or in any certificate, report, statement or other document referred to or provided for in, or
received by the Administrative Agent under or in connection with, this Credit Agreement or any other Credit Document, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Credit Agreement or any other Credit Document,
or for any failure of any Credit Party or any other party to any Credit Document to perform its obligations hereunder or thereunder. No Agent-Related Person shall be under any obligation to any Bank or participant to ascertain or to inquire as to
the observance or performance of any of the agreements contained in, or conditions of, this Credit Agreement or any other Credit Document, or to inspect the properties, books or records of any Credit Party or any Affiliate thereof. 
  
 10.4 Reliance by Agent. 
  
 (a) The Administrative Agent shall be entitled to rely, and shall be fully
protected in relying, upon any writing, communication, signature, resolution, representation, notice, consent, certificate, affidavit, letter, telegram, facsimile, telex or telephone message, electronic mail message, statement 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 any Credit Party), independent accountants and other
experts selected by the Administrative Agent. The Administrative Agent shall be fully justified in failing or refusing to take any action under any Credit Document unless it shall first receive such advice or concurrence of the Required Banks as it
deems appropriate and, if it so requests, it shall first be indemnified to its satisfaction by the Banks against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action. The
Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Credit Agreement or any other Credit Document in accordance with a request or consent of the Required Banks (or such greater number of
Banks as may be expressly required hereby in any instance) and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Banks. 
  

 70 

 (b) For purposes of determining compliance with the conditions specified in Section 5.1, each Bank
that has signed this Credit Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Bank
unless the Administrative Agent shall have received notice from such Bank prior to the proposed Closing Date specifying its objection thereto. 
  
 10.5 Notice of Default. 
  
 The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default, except with respect to defaults in the payment
of principal, interest and fees required to be paid to the Administrative Agent for the account of the Banks, unless the Administrative Agent shall have received written notice from a Bank or the Borrower Representative referring to this Credit
Agreement, describing such Default and stating that such notice is a “notice of default.” The Administrative Agent will notify the Banks of its receipt of any such notice. The Administrative Agent shall take such action with respect to
such Default as may be directed by the Required Banks in accordance with Section 9; provided, however, that unless and until the Administrative Agent has received any such direction, the Administrative Agent may (but shall not
be obligated to) take such action, or refrain from taking such action, with respect to such Default as it shall deem advisable or in the best interest of the Banks. 
  
 10.6 Credit Decision; Disclosure of Information by Agent. 
  
 Each Bank acknowledges that no Agent-Related Person has made any
representation or warranty to it, and that no act by the Administrative Agent hereafter taken, including any consent to and acceptance of any assignment or review of the affairs of any Credit Party or any Affiliate thereof, shall be deemed to
constitute any representation or warranty by any Agent-Related Person to any Bank as to any matter, including whether Agent-Related Persons have disclosed material information in their possession. Each Bank represents to the Administrative Agent
that it has, independently and without reliance upon any Agent-Related Person and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, prospects, operations, property,
financial and other condition and creditworthiness of the Loan Parties and their respective Subsidiaries, and all applicable bank or other regulatory laws relating to the transactions contemplated hereby, and made its own decision to enter into this
Credit Agreement and to extend credit to the Borrowers hereunder. Each Bank also represents that it will, independently and without reliance upon any Agent-Related Person 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 Credit Agreement and the other Credit Documents, and to make such investigations as it deems necessary to inform itself as to the
business, prospects, operations, property, financial and other condition and creditworthiness of the Parent. Except for notices, reports and other documents expressly required to be furnished to the Banks by the Administrative Agent herein, the
Administrative Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of any of the Credit
Parties or any of their respective Affiliates which may come into the possession of any Agent-Related Person. 
  
 10.7 Indemnification of Agent. 
  
 Whether or not the transactions contemplated hereby are consummated, the Banks shall indemnify upon demand each Agent-Related Person (to the extent not
reimbursed by or on behalf of any Credit Party and without limiting the obligation of any Credit Party to do so), pro rata, and hold harmless each Agent-Related Person from and against any and all Indemnified Liabilities incurred by it;
provided, however, that (a) no Bank shall be liable for the payment to any Agent-Related Person of any portion of such Indemnified Liabilities to the extent determined in a final, nonappealable judgment by a court of 

  

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competent jurisdiction to have resulted from such Agent-Related Person’s own gross negligence or willful misconduct and (b) no Bank shall be liable for
the payment of any portion of an Indemnified Liability pursuant to this Section unless such Indemnified Liability was incurred by the Agent-Related Person in its capacity as such or by another person acting for the Administrative Agent in such
capacity; provided, however, that no action taken in accordance with the directions of the Required Banks shall be deemed to constitute gross negligence or willful misconduct for purposes of this Section. Without limitation of the
foregoing, each Bank shall reimburse the Administrative Agent upon demand for its ratable share of any costs or out-of-pocket expenses (including Attorney Costs) incurred by the Administrative Agent in connection with the preparation, execution,
delivery, administration, modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under, this Credit Agreement, any other Credit Document, or
any document contemplated by or referred to herein, to the extent that the Administrative Agent is not reimbursed for such expenses by or on behalf of the Borrowers. The undertaking in this Section shall survive termination of the Commitments, the
payment of all other Obligations and the resignation of the Administrative Agent. 
  
 10.8 Agent in its Individual Capacity. 
  
 Bank of America and its Affiliates may make loans to, issue letters of credit for the account of, accept deposits from, acquire equity interests in and generally engage in any kind of banking, trust, financial
advisory, underwriting or other business with each of the Credit Parties and their respective Affiliates as though Bank of America were not the Administrative Agent or the Issuing Bank hereunder and without notice to or consent of the Banks. The
Banks acknowledge that, pursuant to such activities, Bank of America or its Affiliates may receive information regarding any Credit Party or its Affiliates (including information that may be subject to confidentiality obligations in favor of such
Credit Party or such Affiliate) and acknowledge that the Administrative Agent shall be under no obligation to provide such information to them. With respect to its Loans, Bank of America shall have the same rights and powers under this Credit
Agreement as any other Bank and may exercise such rights and powers as though it were not the Administrative Agent or the Issuing Bank, and the terms “Bank” and “Banks” include Bank of America in its individual capacity.

  
 10.9 Successor Agent. 
  
 The Administrative Agent may resign as Administrative Agent upon 30
days’ notice to the Banks; provided that any such resignation by Bank of America shall also constitute its resignation as Issuing Bank and Swingline Bank. If the Administrative Agent resigns under this Credit Agreement, the Required
Banks shall appoint from among the Banks a successor administrative agent for the Banks, which successor administrative agent shall require the consent of the Borrower Representative at all times other than during the continuation of an Event of
Default (which consent of the Borrower Representative shall not be unreasonably withheld or delayed). If no successor administrative agent is appointed prior to the effective date of the resignation of the Administrative Agent, the Administrative
Agent may appoint, after consulting with the Banks and the Borrower Representative, a successor administrative agent from among the Banks. Upon the acceptance of its appointment as successor administrative agent hereunder, the Person acting as such
successor administrative agent shall succeed to all the rights, powers and duties of the retiring Administrative Agent, Issuing Bank and Swingline Bank and the respective terms “Administrative Agent,” “Issuing Bank” and
“Swingline Bank” shall mean such successor administrative agent, Letter of Credit issuer and Swingline Bank, and the retiring Administrative Agent’s appointment, powers and duties as Administrative Agent shall be terminated and the
retiring Issuing Bank’s and Swingline Bank’s rights, powers and duties as such shall be terminated, without any other or further act or deed on the part of such retiring Issuing Bank or Swingline Bank or any other Bank, other than the
obligation of the successor Issuing Bank to issue letters of credit in substitution for the Letters of Credit, 

  

 72 

 
if any, outstanding at the time of such succession or to make other arrangements satisfactory to the retiring Issuing Bank to effectively assume the
obligations of the retiring Issuing Bank with respect to such Letters of Credit. After any retiring Administrative Agent’s resignation hereunder as Administrative Agent, the provisions of this Section 10 and Sections 11.4 and
11.9 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent under this Credit Agreement. If no successor administrative agent has accepted appointment as Administrative Agent by the
date which is 30 days following a retiring Administrative Agent’s notice of resignation, the retiring Administrative Agent’s resignation shall nevertheless thereupon become effective and the Banks shall perform all of the duties of the
Administrative Agent hereunder until such time, if any, as the Required Banks appoint a successor agent as provided for above. 
  
 10.10 Administrative Agent May File Proofs of Claim. 
  
 In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment,
composition or other judicial proceeding relative to any Credit Party, the Administrative Agent (irrespective of whether the principal of any Loan or LOC Obligation shall then be due and payable as herein expressed or by declaration or otherwise and
irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise 
  
 (a) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans,
LOC Obligations and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Banks and the Administrative Agent (including any claim for the reasonable
compensation, expenses, disbursements and advances of the Banks and the Administrative Agent and their respective agents and counsel and all other amounts due the Banks and the Administrative Agent under Sections 3.5 and 11.5) allowed
in such judicial proceeding; and 
  
 (b) to collect and receive
any monies or other property payable or deliverable on any such claims and to distribute the same; 
  
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Bank to make such payments to the Administrative Agent
and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Banks, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the
Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under Sections 3.5 and 11.5. 
  
 Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any Bank any plan of
reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Bank or to authorize the Administrative Agent to vote in respect of the claim of any Bank in any such proceeding. 
  
 10.11 Guaranty Matters. 
  
 The Banks irrevocably authorize and direct the Administrative Agent to
release any Guarantor from its obligations under the Guaranty if such Person ceases to be a Subsidiary as a result of a transaction permitted hereunder. Upon request by the Administrative Agent at any time, the Required Banks will confirm in writing
the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty pursuant to this Section 10.11. 
  

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 10.12 Other Agents; Lead Managers. 
  
 None of the Banks or other Persons identified on the facing page or
signature pages of this Credit Agreement as a “syndication agent,” “documentation agent,” “co-agent,” “book manager,” “lead manager,” “arranger,” “lead arranger” or
“co-arranger” shall have any right, power, obligation, liability, responsibility or duty under this Credit Agreement other than, in the case of such Banks, those applicable to all Banks as such. Without limiting the foregoing, none of the
Banks or other Persons so identified shall have or be deemed to have any fiduciary relationship with any Bank. Each Bank acknowledges that it has not relied, and will not rely, on any of the Banks or other Persons so identified in deciding to enter
into this Credit Agreement or in taking or not taking action hereunder. 
  
 SECTION 11  
  
 MISCELLANEOUS

  
 11.1 Notices. 
  
 (a) Notices Generally. Except as otherwise expressly provided herein,
all notices and other communications shall have been duly given and shall be effective (i) when delivered, (ii) when transmitted via telecopy (or other facsimile device) to the number set forth on Schedule 11.1, (iii) the day following the
day on which the same has been delivered prepaid to a reputable national overnight air courier service, or (iv) the third Business Day following the day on which the same is sent by certified or registered mail, postage prepaid, in each case to the
respective parties at the address set forth on Schedule 11.1, or at such other address as such party may specify by written notice to the other parties hereto. 
  

(b) Effectiveness of Facsimile Documents and Signatures. Credit Documents may be transmitted and/or signed by facsimile. The effectiveness of
any such documents and signatures shall, subject to applicable Law, have the same force and effect as manually-signed originals and shall be binding on all Credit Parties, the Administrative Agent and the Banks. The Administrative Agent may also
require that any such documents and signatures be confirmed by a manually-signed original thereof; provided, however, that the failure to request or deliver the same shall not limit the effectiveness of any facsimile document or signature.

  
 (c) Limited Use of Electronic Mail. Electronic mail and
Internet and intranet websites may be used only to distribute routine communications, such as financial statements and other information as provided in Section 7.1, and to distribute Credit Documents for execution by the parties thereto, and may not
be used for any other purpose. 
  
 (d) Reliance by
Administrative Agent and Banks. The Administrative Agent and the Banks shall be entitled to rely and act upon any notices (including telephonic Notice of Revolving Loan Borrowing and Notice of Swingline Loan Borrowing) purportedly given by or on
behalf of the Borrower Representative even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the
recipient, varied from any confirmation thereof. The Borrowers shall indemnify each Agent-Related Person and each Bank from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice purportedly given by or
on behalf of the Borrower Representative. All telephonic notices to and other communications with the Administrative Agent may be recorded by the Administrative Agent, and each of the parties hereto hereby consents to such recording. 
  

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 11.2 Right of Set-Off; Adjustments. 
  
 Upon the occurrence and during the continuance of any Event of Default, each
Bank (and each of its affiliates) is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held
and other indebtedness at any time owing by such Bank (or any of its affiliates) to or for the credit or the account of any Credit Party against any and all of the obligations of such Person now or hereafter existing under this Credit Agreement,
under the Notes, under any other Credit Document or otherwise, irrespective of whether such Bank shall have made any demand hereunder or thereunder and although such obligations may be unmatured. Each Bank agrees promptly to notify any affected
Credit Party after any such set-off and application made by such Bank; provided, however, that the failure to give such notice shall not affect the validity of such set-off and application. The rights of each Bank under this Section
11.2 are in addition to other rights and remedies (including, without limitation, other rights of set-off) that such Bank may have. 
  
 11.3 Successors and Assigns. 
  
 (a) The provisions of this Credit Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns permitted hereby, except that the Borrowers may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Bank and no Bank may assign or otherwise transfer any of its rights or
obligations hereunder except (i) to an Eligible Assignee in accordance with the provisions of paragraph (b) of this Section, (ii) by way of participation in accordance with the provisions of paragraph (d) of this Section or (iii) by way of pledge or
assignment of a security interest subject to the restrictions of paragraph (f) of this Section (and any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Credit Agreement, expressed or implied, shall
be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in paragraph (d) of this Section and, to the extent expressly contemplated hereby,
the Indemnitees) any legal or equitable right, remedy or claim under or by reason of this Credit Agreement. 
  
 (b) Any Bank may assign to one or more Eligible Assignees all or a portion of its rights and obligations under this Credit Agreement (including all or a
portion of its Commitment and the Loans (including for purposes of this subsection (b), participations in LOC Obligations and in Swingline Loans) at the time owing to it); provided that (i) except in the case of an assignment of the entire
remaining amount of the assigning Bank’s Commitment and the Loans at the time owing to it or in the case of an assignment to a Bank or an Affiliate of a Bank or an Approved Fund with respect to a Bank, the aggregate amount of the Commitment
(which for this purpose includes Loans outstanding thereunder) subject to each such assignment, determined as of the date the Assignment and Acceptance with respect to such assignment is delivered to the Administrative Agent, shall not be less than
$5,000,000 unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrowers otherwise consent (each such consent not to be unreasonably withheld or delayed), (ii) each partial assignment shall
be made as an assignment of a proportionate part of all the assigning Bank’s rights and obligations under this Credit Agreement with respect to the Loans or the Commitment assigned, except that this clause (ii) shall not apply to rights in
respect of outstanding Swingline Loans, (iii) any assignment of a Revolving Commitment must be approved by the Administrative Agent and the Issuing Bank unless the Person that is the proposed assignee is itself a Bank with a Revolving Commitment
(whether or not the proposed assignee would otherwise qualify as an Eligible Assignee), and (iv) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Acceptance, together with a processing and
recordation fee of $3,500. Subject to acceptance and recording thereof by the Administrative Agent pursuant to subsection (c) of this Section, from and after the effective date specified in each Assignment and Acceptance, the Eligible Assignee
thereunder shall be 

  

 75 

 
a party hereto and, to the extent of the interest assigned by such Assignment and Acceptance, have the rights and obligations of a Bank under this Credit
Agreement, and the assigning Bank thereunder shall, to the extent of the interest assigned by such Assignment and Acceptance, be released from its obligations under this Credit Agreement (and, in the case of an Assignment and Acceptance covering all
of the assigning Bank’s rights and obligations under this Credit Agreement, such Bank shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 11.5 and 11.9). Upon request, the Borrowers (at their expense)
shall execute and deliver new or replacement Notes to the assigning Bank and the assignee Bank. Any assignment or transfer by a Bank of rights or obligations under this Credit Agreement that does not comply with this subsection shall be treated for
purposes of this Credit Agreement as a sale by such Bank of a participation in such rights and obligations in accordance with subsection (d) of this Section. If the assignee is a Non-U.S. Person, it shall deliver to the Credit Parties and the
Administrative Agent certification as to complete exemption from deduction or withholding of Taxes in accordance with Section 3.11 and shall be subject to the provisions of Section 3.11. 
  
 (c) The Administrative Agent, acting solely for this purpose as an agent of the Borrowers, shall maintain at its office in
Charlotte, North Carolina a copy of each Assignment and Acceptance delivered to it and a register for the recordation of the names and addresses of the Banks, and the Commitments of, and principal amount of the Loans and LOC Obligations owing to,
each Bank pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and the Borrowers, the Administrative Agent and the Banks may treat each Person whose name is recorded in
the Register pursuant to the terms hereof as a Bank hereunder for all purposes of this Credit Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrowers and any Bank, at any reasonable time and
from time to time upon reasonable prior notice. 
  
 (d) Any Bank
may, without the consent of, or notice to, the Borrower Representative or the Administrative Agent, sell participations to one or more banks or other entities (a “Participant”) in all or a portion of such Bank’s rights and/or
obligations under this Credit Agreement (including all or a portion of its Commitment and/or the Loans (including such Bank’s participations in LOC Obligations and/or Swingline Loans) owing to it); provided that (i) such Bank’s
obligations under this Credit Agreement shall remain unchanged, (ii) such Bank shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrowers, the Borrower Representative, the
Administrative Agent and the other Banks shall continue to deal solely and directly with such Bank in connection with such Bank’s rights and obligations under this Credit Agreement. Any agreement or instrument pursuant to which a Bank sells
such a participation shall provide that such Bank shall retain the sole right to enforce this Credit Agreement and to approve any amendment, modification or waiver of any provision of this Credit Agreement; provided that such agreement or
instrument may provide that such Bank will not, without the consent of the Participant, agree to any amendment, waiver or other modification that would (i) postpone any date upon which any payment of money is scheduled to be paid to such
Participant, (ii) reduce the principal, interest, fees or other amounts payable to such Participant or (iii) release all or substantially all of the Guarantors from their obligations under the Credit Documents. Subject to subsection (e) of this
Section, the Borrowers agree that each Participant shall be entitled to the benefits of Sections 3.6, 3.9, 3.11 and 3.12 to the same extent as if it were a Bank and had acquired its interest by assignment pursuant to subsection (b) of this Section
and such Participant shall be subject to the limitations of such Sections as if such Participant were a Bank hereunder. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 11.2 as though it were a Bank,
provided such Participant agrees to be subject to Section 3.14 as though it were a Bank. 
  
 (e) A Participant shall not be entitled to receive any greater payment under Section 3.6, 3.9 or 3.11 than the applicable Bank would have been entitled to
receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower Representative’s prior written consent. A Participant that would be a Foreign Bank if it were
a Bank shall 

  

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not be entitled to the benefits of Section 3.11 unless the Borrower Representative is notified of the participation sold to such Participant and such
Participant agrees, for the benefit of the Borrowers, to comply with Section 3.11(d) as though it were a Bank. 
  
 (f) Any Bank may at any time pledge or assign a security interest in all or any portion of its rights under this Credit Agreement (including under its
Notes, if any) to secure obligations of such Bank, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release a Bank from any of its obligations hereunder or
substitute any such pledgee or assignee for such Bank as a party hereto. 
  
 (g) Notwithstanding anything to the contrary contained herein, if at any time Bank of America assigns all of its Commitment and Loans pursuant to subsection (b) above, Bank of America may, (i) upon 30 days’
notice to the Borrower Representative and the Banks, resign as Issuing Bank and/or (ii) upon 5 Business Days’ notice to the Borrower Representative, resign as Swingline Bank. In the event of any such resignation as Issuing Bank or as Swingline
Bank, the Borrower Representative shall be entitled to appoint from among the Banks a successor Issuing Bank or Swingline Bank hereunder; provided, however, that no failure by the Borrower Representative to appoint any such successor
shall affect the resignation of Bank of America as Issuing Bank or as Swingline Bank, as the case may be. Bank of America shall retain all the rights and obligations of the Issuing Bank hereunder with respect to all Letters of Credit outstanding as
of the effective date of its resignation as Issuing Bank and all LOC Obligations with respect thereto (including the right to require the Banks to make Base Rate Loans or fund participations in Letters of Credit pursuant to Section 2.6(b)). If Bank
of America resigns as Swingline Bank, it shall retain all the rights of the Swingline Bank provided for hereunder with respect to Swingline Loans made by it and outstanding as of the effective date of such resignation, including the right to require
the Banks to make Base Rate Loans or fund participations in outstanding Swingline Loans pursuant to Section 2.7. 
  
 11.4 No Waiver; Remedies Cumulative. 
  
 No failure or delay on the part of the Administrative Agent or any Bank in exercising any right, power or privilege hereunder or under any other Credit
Document and no course of dealing between the Administrative Agent or any Bank and any of the Credit Parties shall operate as a waiver thereof; nor shall any single or partial exercise of any right, power or privilege hereunder or under any other
Credit Document preclude any other or further exercise thereof or the exercise of any other right, power or privilege hereunder or thereunder. The rights and remedies provided herein are cumulative and not exclusive of any rights or remedies which
the Administrative Agent or any Bank would otherwise have. No notice to or demand on any Credit Party in any case shall entitle the Credit Parties to any other or further notice or demand in similar or other circumstances or constitute a waiver of
the rights of the Administrative Agent or the Banks to any other or further action in any circumstances without notice or demand. 
  
 11.5 Expenses; Indemnification. 
  
 (a) The Credit Parties jointly and severally agree to pay within 30 days upon presentation of an invoice all reasonable costs and expenses of the
Administrative Agent in connection with the syndication, preparation, execution, delivery, administration, modification, and amendment of this Credit Agreement, the other Credit Documents, and the other documents to be delivered hereunder,
including, without limitation, the reasonable fees and expenses of counsel for the Administrative Agent with respect thereto and with respect to advising the Administrative Agent as to its rights and responsibilities under the Credit Documents. The
Credit Parties further jointly and severally agree to pay within 30 days upon presentation of an invoice all reasonable costs and expenses of the Administrative Agent and the Banks, if any (including, without limitation, reasonable attorneys’
fees and expenses), in connection with the 

  

 77 

 
enforcement (whether through negotiations, legal proceedings, or otherwise) of the Credit Documents and the other documents to be delivered thereunder.

  
 (b) Whether or not the transactions contemplated hereby are
consummated, the Borrowers agrees to indemnify, save and hold harmless each Agent-Related Person, each Bank and their respective Affiliates, directors, officers, employees, counsel, agents and attorneys-in-fact (collectively the
“Indemnitees”) from and against: (a) any and all claims, demands, actions or causes of action that are asserted against any Indemnitee by any Person (other than the Administrative Agent or any Bank) relating directly or indirectly
to a claim, demand, action or cause of action that such Person asserts or may assert against any Credit Party, any Affiliate of any Credit Party or any of their respective officers or directors; (b) any and all claims, demands, actions or causes of
action that may at any time (including at any time following repayment of the Obligations and the resignation or removal of the Administrative Agent or the replacement of any Bank) be asserted or imposed against any Indemnitee, arising out of or
relating to, the Credit Documents, any predecessor Credit Documents, the Commitments, the use or contemplated use of the proceeds of any Extension of Credit, or the relationship of any Credit Party, the Administrative Agent and the Banks under this
Credit Agreement or any other Credit Document; (c) 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 subsection (a) or (b) above; and (d)
any and all liabilities (including liabilities under indemnities), losses, costs or expenses (including reasonable fees and costs of counsel) 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, 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 claim caused by its own gross negligence or willful misconduct or for any loss asserted against it by another Indemnitee. The agreements in this Section shall survive the termination of the Commitments and repayment of all
the other Obligations. 
  
 (c) Without prejudice to the survival
of any other agreement of the Credit Parties hereunder, the agreements and obligations of the Credit Parties contained in this Section 11.5 shall survive the repayment of the Loans, LOC Obligations and other obligations under the Credit Documents
and the termination of the Commitments hereunder. 
  
 11.6
Amendments, Waivers and Consents. 
  
 Neither this
Credit Agreement nor any other Credit Document nor any of the terms hereof or thereof may be amended, changed, waived, discharged or terminated unless such amendment, change, waiver, discharge or termination is in writing entered into by, or
approved in writing by, the Required Banks and the Borrower Representative, provided, however, that: 
  
 (a) without the consent of each Bank affected thereby, neither this Credit Agreement nor any other Credit Document may be amended to 
  
 (i) extend the final maturity of any Loan, or any portion
thereof, or extend the final maturity of any reimbursement obligation, or any portion thereof, arising from drawings under Letters of Credit, 
  
 (ii) reduce the rate or extend the time of payment of interest (other than as a result of waiving the applicability of any post-default
increase in interest rates) thereon or Fees hereunder, 
  

 78 

 (iii) reduce or waive the principal amount of any Loan, or any portion thereof, or reduce
or waive the principal amount of any reimbursement obligation, or any portion thereof, arising from drawings under Letters of Credit, 
  
 (iv) increase the Commitment of a Bank over the amount thereof in effect (it being understood and agreed that a waiver of any Default or
Event of Default or mandatory reduction in the Commitments shall not constitute a change in the terms of any Commitment of any Bank), 
  
 (v) release the Borrowers or, except as the result of or in connection with a dissolution, merger or disposition of a member of the
Consolidated Group permitted under Section 8.4, release any Material Guarantor or all or substantially all of the other Guarantors from its or their obligations under the Credit Documents, 
  
 (vi) amend, modify or waive any provision of this Section
11.6 or Section 3.6, 3.7, 3.8, 3.9, 3.10, 3.11, 3.12, 3.13, 3.14, 3.15, 9.1(a), 11.2, 11.3, 11.5 or 11.9, 
  
 (vii) reduce any percentage specified in, or otherwise modify, the definition of Required Banks, or 
  
 (viii) consent to the assignment or transfer by the
Borrowers, any Material Guarantor or all or substantially all of the other Guarantors of any of its or their rights and obligations under (or in respect of) the Credit Documents except as permitted thereby; 
  
 (b) without the consent of the Administrative Agent, no provision of Section
10 may be amended; and 
  
 (c) without the consent of the Issuing
Bank, no provision of Section 2.1(b), 2.2(a)(ii) or 2.6 may be amended. 
  
 Notwithstanding the fact that the consent of all the Banks is required in certain circumstances as set forth above, (x) each Bank is entitled to vote as such Bank sees fit on any bankruptcy reorganization plan that
affects the Loans, and each Bank acknowledges that the provisions of Section 1126(c) of the Bankruptcy Code supersedes the unanimous consent provisions set forth herein and (y) the Required Banks may consent to allow a Credit Party to use cash
collateral in the context of a bankruptcy or insolvency proceeding. 
  
 11.7 Counterparts. 
  
 This Credit
Agreement 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. It shall not be necessary in making proof of this Credit
Agreement to produce or account for more than one such counterpart for each of the parties hereto. Delivery by facsimile by any of the parties hereto of an executed counterpart of this Credit Agreement shall be as effective as an original executed
counterpart hereof and shall be deemed a representation that an original executed counterpart hereof will be delivered. 
  
 11.8 Headings. 
  
 The headings of the sections and subsections hereof are provided for convenience only and shall not in any way affect the meaning or construction of any
provision of this Credit Agreement. 
  

 79 

 11.9 Survival. 
  
 All indemnities set forth herein, including, without limitation, in Section 2.6(h), 3.11, 3.12, 10.5 or 11.5 shall survive
the execution and delivery of this Credit Agreement, the making of the Loans, the issuance of the Letters of Credit, the repayment of the Loans, LOC Obligations and other obligations under the Credit Documents and the termination of the Commitments
and this Agreement, and all representations and warranties made by the Credit Parties herein shall survive delivery of the Notes and the making of the Loans hereunder. 
  
 11.10 Governing Law; Submission to Jurisdiction; Venue; Waiver of Jury Trial. 
  
 (a) THIS CREDIT AGREEMENT AND, UNLESS OTHERWISE EXPRESSLY PROVIDED THEREIN,
THE OTHER CREDIT DOCUMENTS AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND THEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF VIRGINIA. Any legal action or proceeding with
respect to this Credit Agreement or any other Credit Document may be brought in the courts of the Commonwealth of Virginia in City of Richmond, or of the United States for the Eastern District of Virginia, and, by execution and delivery of this
Credit Agreement, each of the Credit Parties hereby irrevocably accepts for itself and in respect of its property, generally and unconditionally, the nonexclusive jurisdiction of such courts. Each of the Credit Parties further irrevocably consents
to the service of process out of any of the aforementioned courts in any such action or proceeding by the mailing of copies thereof by registered or certified mail, postage prepaid, to it at the address set out for notices pursuant to Section 11.1,
such service to become effective thirty (30) days after such mailing. Nothing herein shall affect the right of the Administrative Agent or any Bank to serve process in any other manner permitted by law or to commence legal proceedings or to
otherwise proceed against any Credit Party in any other jurisdiction. 
  
 (b) Each of the Credit Parties hereby irrevocably waives any objection which it may now or hereafter have to the laying of venue of any of the aforesaid actions or proceedings arising out of or in connection with this Credit Agreement or
any other Credit Document brought in the courts referred to in subsection (a) above and hereby further irrevocably waives and agrees not to plead or claim in any such court that any such action or proceeding brought in any such court has been
brought in an inconvenient forum. 
  
 (c) EACH PARTY TO THIS
CREDIT AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER ANY CREDIT DOCUMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY
OF THEM WITH RESPECT TO ANY CREDIT 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 CREDIT 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. 
  
 11.11 Severability. 
  
 If any provision
of any of the Credit Documents is determined to be illegal, invalid or unenforceable, such provision shall be fully severable and the remaining provisions shall remain in full force and effect and shall be construed without giving effect to the
illegal, invalid or unenforceable provisions. 
  

 80 

 11.12 Entirety. 
  
 This Credit Agreement together with the other Credit Documents represent the entire agreement of the parties hereto and
thereto, and supersede all prior agreements and understandings, oral or written, if any, including any commitment letters or correspondence relating to the Credit Documents or the transactions contemplated herein and therein. 
  
 11.13 Binding Effect; Termination. 
  
 (a) This Credit Agreement shall become effective at such time on or after
the Closing Date when it shall have been executed by each Credit Party and the Administrative Agent, and the Administrative Agent shall have received copies hereof (telefaxed or otherwise) which, when taken together, bear the signatures of each
Bank, and thereafter this Credit Agreement shall be binding upon and inure to the benefit of each Credit Party, the Administrative Agent and each Bank and their respective successors and assigns. Each Credit Party, the Administrative Agent and the
Banks hereby agree that at such time as this Credit Agreement shall have become effective pursuant to the terms of the first sentence of this Section 11.13(a), (i) the Existing Credit Agreement automatically shall be deemed amended and
restated in its entirety by this Credit Agreement and (ii) all of the promissory notes executed in connection with the Existing Credit Agreement automatically shall be substituted and replaced by the Notes executed in connection with this Credit
Agreement and the Banks under the Existing Credit Agreement agree to promptly return such prior notes to the Company marked “cancelled” as requested by the Parent. 
  
 (b) The term of this Credit Agreement shall be until no Loans, LOC Obligations or any other amounts payable hereunder or
under any of the other Credit Documents shall remain outstanding, no Letters of Credit shall be outstanding, all of the Commitments shall have expired or been terminated and this Agreement has been terminated. 
  
 11.14 Confidentiality. 
  
 Each of the Administrative Agent and the Banks agrees to maintain the
confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its and its Affiliates’ directors, officers, employees and agents, including accountants, legal counsel and other advisors (it being
understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential); (b) to the extent requested by any regulatory authority; (c) to the
extent required by applicable laws or regulations or by any subpoena or similar legal process; (d) to any other party to this Credit Agreement; (e) in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating
to this Credit Agreement or the enforcement of rights hereunder; (f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any Eligible Assignee of or Participant in, or any prospective Eligible
Assignee of or Participant in, any of its rights or obligations under this Credit Agreement or (ii) any direct or indirect contractual counterparty or prospective counterparty (or such contractual counterparty’s or prospective
counterparty’s professional advisor) to any credit derivative transaction relating to obligations of the Borrowers; (g) with the consent of the Borrower Representative; (h) to the extent such Information (i) becomes publicly available other
than as a result of a breach of this Section or (ii) becomes available to the Administrative Agent or any Bank on a nonconfidential basis from a source other than the Borrowers; or (i) to the National Association of Insurance Commissioners or any
other similar organization or any nationally recognized rating agency that requires access to information about a Bank’s or its Affiliates’ investment portfolio in connection with ratings issued with respect to such Bank or its Affiliates.
For the purposes of this Section, “Information” means all information received from the Borrower Representative relating to the Borrowers or their businesses, other than any such information that is available to the 

  

 81 

 
Administrative Agent or any Bank on a nonconfidential basis prior to disclosure by the Borrower Representative; provided that, in the case of
information received from the Borrower Representative after the date hereof, such information is clearly identified in writing at the time of delivery as confidential. Any Person required to maintain the confidentiality of Information as provided in
this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information.
Notwithstanding anything herein to the contrary, “Information” shall not include, and the Borrowers and the Administrative Agent may disclose to any and all Persons, without limitation of any kind, any information with respect to the
“tax treatment” and “tax structure” (in each case, within the meaning of Treasury Regulation Section 1.6011-4) of the transactions contemplated hereby and all materials of any kind (including opinions or other tax analyses) that
are provided to the Administrative Agent relating to such tax treatment and tax structure; provided that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax structure of
the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the tax treatment or tax structure of the Loans and transactions contemplated hereby. 
  
 11.15 Source of Funds. 
  
 Each of the Banks hereby represents and warrants to the Borrower
Representative that at least one of the following statements is an accurate representation as to the source of funds to be used by such Bank in connection with the financing hereunder: 
  
 (a) no part of such funds constitutes assets allocated to any separate account maintained by such Bank in which any employee
benefit plan or any plan (or its related trust) has any interest; 
  
 (b) to the extent that any part of such funds constitutes assets allocated to any bank collective investment fund maintained by such Bank, such Bank has disclosed to the Borrower Representative the name of each employee benefit plan or plan
whose assets in such fund exceed 10% of the total assets of such fund as of the date of purchase and, with respect to any employee benefit plan or plan whose interest in such fund does not exceed 10% of the total assets of such fund as of the date
of purchase, the requirements for the application of Prohibited Transaction Class Exemption 91-38, 56 Fed. Reg. 31,966 and 56 Fed Reg. 59,299 (1991) or the requirements of another exemption have been satisfied; 
  
 (c) to the extent that any part of such funds constitute assets allocated to
any insurance company general asset account maintained by such Bank, such Bank has disclosed to the Borrower Representative the name of each employee benefit plan or plan whose assets in such account exceed 10% of the total assets of such account as
of the date of purchase and, with respect to any employee benefit plan or plan whose interest in such account does not exceed 10% of the total assets of such account as of the date of purchase, the requirements for the application of Prohibited
Transaction Class Exemption 95-60, 60 Fed. Reg. 35,925 (1995), the requirements prescribed by the regulations under Section 401(c)(1)(A) of ERISA or the requirements of another exemption have been satisfied; 
  
 (d) to the extent that any part of such funds constitute assets allocated to
any insurance company pooled separate account maintained by such Bank, such Bank has disclosed to the Borrower Representative the name of each employee benefit plan or plan whose assets in such account exceed 10% of the total assets of such account
as of the date of purchase and, with respect to any employee benefit plan or plan whose interest in such account does not exceed 10% of the total assets of such account as of the date of purchase, the requirements for the application of Prohibited
Transaction Class Exemption 90-1, Fed. Reg. 31,092 and 54 Fed. Reg. 32,024 (1989) or the requirements of another exemption have been satisfied; or 
  

 82 

 (e) such funds constitute assets of one or more specific benefit plans, not held in a bank collective
investment fund, an insurance company general asset account, an insurance company pooled separate account or other investment fund, which such Bank has identified in writing to the Borrower Representative. 
  
 The determination of whether the interest of an employee benefit plan or plan in a fund or
account exceeds 10% of the total value of such fund or account shall be determined in accordance with Prohibited Transaction Class Exemption 91-38, 95-60 and 90-1, as applicable, including (by way of example and not of limitation), the requirement
that all employee benefit plans or plans maintained by one or more businesses or employee organizations that, under applicable law, are considered to be the same employer or employee organization shall be deemed to be a single employee benefit plan
or plan. 
  
 As used in this Section 11.15, the terms “employee benefit
plan” and “separate account” shall have the respective meanings assigned to such terms in Section 3 of ERISA and the term “plan” shall have the respective meaning assigned to such term in Section 4975(e)(1) of the Internal
Revenue Code. 
  
 11.16 Conflict. 
  
 To the extent that there is a conflict or inconsistency between any
provision hereof, on the one hand, and any provision of any Credit Document, on the other hand, this Credit Agreement shall control. 
  
 11.17 USA Patriot Act Notice. 
  
 Each Bank and the Administrative Agent (for itself and not on behalf of any Bank) hereby notifies the Borrowers that pursuant to the requirements of the
USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”), it is required to obtain, verify and record information that identifies the Borrowers (and to the extent applicable, the Parent), which
information includes the name and address of the respective Borrowers (and to the extent applicable, the Parent) and other information that will allow such Bank or the Administrative Agent, as applicable, to identify the Borrowers (and to the extent
applicable, the Parent) in accordance with the Act. 
  
 [Signature
Pages to Follow] 
  

 83 

 IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this Credit Agreement to be
duly executed and delivered as of the date first above written. 
  

									
	 BORROWERS:
	 	 	 	 OWENS & MINOR MEDICAL, INC.,
 a Virginia corporation

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	

	 	 	 	 	 	 	 Name:
	 	 
	 	 	 	 	 	 	 Title:
	 	 

  

									
	 	 	 	 	 OWENS & MINOR DISTRIBUTION, INC.,
 a Virginia corporation

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	

	 	 	 	 	 	 	 Name:
	 	 
	 	 	 	 	 	 	 Title:
	 	 

  

									
	 GUARANTOR:
	 	 	 	 OWENS & MINOR, INC.,
 a Virginia corporation

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	

	 	 	 	 	 	 	 Name:
	 	 
	 	 	 	 	 	 	 Title:
	 	 

  

									
	 ADMINISTRATIVE AGENT:
	 	 	 	 BANK OF AMERICA, N.A.,
 in its capacity as Administrative Agent

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	

	 	 	 	 	 	 	 Name:
	 	 
	 	 	 	 	 	 	 Title:
	 	 

  

									
	 BANKS
	 	 	 	 BANK OF AMERICA, N.A.,
 in its capacity as a Bank

					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 	 	

	 	 	 	 	 	 	 Name:
	 	 
	 	 	 	 	 	 	 Title:

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