Document:

Document

Exhibit 10.1

Execution Version

AMENDED AND RESTATED CREDIT AGREEMENT

Dated as of April 25, 2022

among

TRI-STATE GENERATION AND TRANSMISSION ASSOCIATION, INC.,
as the Borrower,

The LENDERS Party Hereto,

and

NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION,
as Administrative Agent, Sole Lead Arranger, Sole Bookrunner, Sustainability Coordinator,
Swing Line Lender, and an L/C Issuer,

and

U.S. BANK NATIONAL ASSOCIATION,
as Syndication Agent and an L/C Issuer, 

and
JPMORGAN CHASE BANK, N.A.,
as Co-Documentation Agent, 

WELLS FARGO BANK, N.A.,
as Co-Documentation Agent, 

and

COBANK, ACB,
as Co-Documentation Agent

TABLE OF CONTENTS
Section    Page
						
	ARTICLE I. DEFINITIONS AND ACCOUNTING TERMS
	1

	1.01    Defined Terms
	1

	1.02    Other Interpretive Provisions
	29

	1.03    Accounting Terms
	30

	1.04    Rounding
	31

	1.05    Times of Day
	31

	1.06    Divisions
	31

	1.07    Letter of Credit Amounts
	31

	1.08    Rates
	31

	ARTICLE II. THE COMMITMENTS AND CREDIT EXTENSIONS
	32

	2.01    Committed Loans
	32

	2.02    Borrowings, Conversions and Continuations of Committed Loans
	32

	2.03    Letters of Credit.
	34

	2.04    Swing Line Loans.
	44

	2.05    Prepayments.
	47

	2.06    Termination or Reduction of Commitments
	48

	2.07    Repayment of Loans.
	48

	2.08    Interest.
	49

	2.09    Fees
	50

	2.10    Computation of Interest and Fees
	50

	2.11    Evidence of Debt
	50

	2.12    Payments Generally; Administrative Agent’s Clawback
	51

	2.13    Sharing of Payments by Lenders
	53

	2.14    Increase in Commitments
	54

	2.15    Cash Collateral.
	55

	2.16    Defaulting Lenders.
	56

	2.17    Extension of Maturity Date.
	59

	2.18    CoBank Equities.
	60

	2.19    ESG Amendment
	61

	2.20    Sustainability Coordinator.
	62

	ARTICLE III. TAXES, YIELD PROTECTION AND ILLEGALITY
	62

	3.01    Taxes.
	62

	3.02    Illegality
	66

	3.03    Inability to Determine Rates
	66

	3.04    Increased Costs.
	67

	3.05    Compensation for Losses
	68

	3.06    Mitigation Obligations; Replacement of Lenders.
	69

						
	3.07    Benchmark Replacement Setting.
	70

	3.08    Survival
	71

	ARTICLE IV. CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
	71

	4.01    Conditions of Initial Credit Extension
	71

	4.02    Conditions to all Credit Extensions
	74

	ARTICLE V. REPRESENTATIONS AND WARRANTIES
	75

	5.01    Existence, Qualification and Power
	75

	5.02    Authorization; No Contravention
	75

	5.03    Governmental Authorization; Other Consents
	75

	5.04    Binding Effect
	76

	5.05    Financial Statements; No Material Adverse Effect.
	76

	5.06    Litigation
	76

	5.07    No Default
	77

	5.08    Ownership of Property; Liens
	77

	5.09    Maintenance of Properties
	77

	5.10    Environmental Compliance
	77

	5.11    Insurance
	78

	5.12    Taxes
	78

	5.13    ERISA Compliance.
	78

	5.14    Subsidiaries; Equity Interests
	79

	5.15    Margin Regulations; Investment Company Act.
	79

	5.16    Disclosure
	80

	5.17    Compliance with Laws
	80

	5.18    Taxpayer Identification Number
	80

	5.19    Intellectual Property; Licenses, Etc
	80

	5.20    Significant Debt Agreements and Liens.
	80

	5.21    Solvency
	81

	5.22    Wholesale Power Contracts
	81

	5.23    Reserved.
	81

	5.24    Indenture and Supplements
	81

	5.25    Collateral Documents
	81

	5.26    OFAC; Anti-Terrorism Laws.
	82

	5.27    EEA Financial Institutions
	82

	5.28    Beneficial Ownership Certification
	82

	5.29    Plan Assets
	82

	ARTICLE VI. AFFIRMATIVE COVENANTS
	83

	6.01    Financial Statements
	83

	6.02    Certificates; Other Information
	84

	6.03    Notices
	85

	6.04    Payment of Obligations
	86

	6.05    Preservation of Existence, Etc
	86

						
	6.06    Maintenance of Properties
	86

	6.07    Maintenance of Insurance
	87

	6.08    Compliance with Laws
	87

	6.09    Compliance with Indenture and Wholesale Power Contracts
	87

	6.10    Books and Records
	87

	6.11    Inspection Rights
	87

	6.12    Use of Proceeds
	87

	6.13    Preparation of Environmental Reports
	87

	6.14    Restricted Subsidiaries.
	88

	6.15    CoBank Equities
	88

	6.16    Evidence of Financing Statements, etc.
	88

	6.17    Sanctions; Anti-Corruption Laws
	88

	6.18    Further Assurances
	88

	6.19    Member Contract Termination Payment
	89

	ARTICLE VII. NEGATIVE COVENANTS
	89

	7.01    Liens
	89

	7.02    Investments
	90

	7.03    Indebtedness
	90

	7.04    Fundamental Changes
	90

	7.05    Dispositions
	90

	7.06    Restricted Payments
	90

	7.07    Change in Nature of Business
	91

	7.08    Wholesale Power Contracts, Organization Documents.
	91

	7.09    Transactions with Affiliates
	91

	7.10    Restrictive Agreements
	91

	7.11    Use of Proceeds
	91

	7.12    Changes in Accounting Policies, Fiscal Periods.
	92

	7.13    Financial Covenants
	92

	7.14    Sanctions; Anti-Corruption; Use of Proceeds
	92

	ARTICLE VIII. EVENTS OF DEFAULT AND REMEDIES
	92

	8.01    Events of Default
	92

	8.02    Remedies Upon Event of Default
	95

	8.03    Application of Funds
	95

	ARTICLE IX. ADMINISTRATIVE AGENT
	96

	9.01    Appointment and Authority
	96

	9.02    Rights as a Lender
	96

	9.03    Exculpatory Provisions
	96

	9.04    Reliance by Administrative Agent
	97

	9.05    Delegation of Duties
	98

	9.06    Resignation and Removal of Administrative Agent
	98

	9.07    Non-Reliance on Administrative Agent and Other Lenders
	99

						
	9.08    No Other Duties, Etc
	100

	9.09    Administrative Agent May File Proofs of Claim
	100

	9.10    Administrative Agent to Hold Note
	101

	9.11    Certain ERISA Matters
	101

	9.12    Erroneous Payments
	102

	ARTICLE X. MISCELLANEOUS
	105

	10.01    Amendments, Etc
	105

	10.02    Notices; Effectiveness; Electronic Communication.
	106

	10.03    No Waiver; Cumulative Remedies; Enforcement
	108

	10.04    Expenses; Indemnity; Damage Waiver.
	109

	10.05    Payments Set Aside
	111

	10.06    Successors and Assigns.
	111

	10.07    Treatment of Certain Information; Confidentiality
	117

	10.08    Right of Setoff
	118

	10.09    Interest Rate Limitation
	118

	10.10    Counterparts; Integration; Effectiveness
	119

	10.11    Survival of Representations and Warranties
	119

	10.12    Severability
	119

	10.13    Replacement of Lenders
	119

	10.14    Governing Law; Jurisdiction; Etc.
	121

	10.15    Waiver of Jury Trial
	121

	10.16    No Advisory or Fiduciary Responsibility
	122

	10.17    Electronic Execution of Loan Documents and Certain Other Documents
	122

	10.18    USA PATRIOT Act
	123

	10.19    Time of the Essence
	123

	10.20    Acknowledgement and Consent to Bail-In of Affected Financial Institutions
	123

	10.21    Acknowledgement Regarding Any Supported QFCs
	123

	10.22    Advertising Materials
	124

	10.23    ENTIRE AGREEMENT
	124

	ARTICLE XI. EXISTING CREDIT AGREEMENT
	124

SIGNATURES    S-1

SCHEDULES
						
	2.01
	Commitments and Applicable Percentages
	5.06
	Litigation
	5.10
	Environmental Matters
	5.13(d)
	Pension Plans
	5.14
	Subsidiaries; Equity Interests
	5.19
	Intellectual Property Matters
	5.20
	Material Agreements and Liens
	5.22
	Wholesale Power Contracts
	10.02
	Administrative Agent’s Office; Certain Addresses for Notices; Taxpayer Identification Number
	10.06(e)
	Voting Participants

EXHIBITS
						
	A
	Form of Committed Loan Notice
	B
	Form of Swing Line Loan Notice
	C
	Form of Note
	D
	Form of Compliance Certificate
	E
	Form of Assignment and Assumption

AMENDED AND RESTATED CREDIT AGREEMENT

This AMENDED AND RESTATED CREDIT AGREEMENT (this “Agreement”) is entered into as of April 25, 2022, among TRI-STATE GENERATION AND TRANSMISSION ASSOCIATION, INC. (the “Borrower”), each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”), NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION, as Administrative Agent, Sole Lead Arranger, Sole Bookrunner, Sustainability Coordinator, Swing Line Lender and an L/C Issuer, and U.S. BANK NATIONAL ASSOCIATION, as an L/C Issuer.
WHEREAS, the Borrower, the financial institutions named therein as lenders, and the Administrative Agent are parties to the Credit Agreement, dated as of April 25, 2018 (as amended, supplemented or otherwise modified from time to time through the Closing Date (as defined below), the “Existing Credit Agreement”) under which such lenders provided a credit facility in the aggregate principal amount not exceeding $650,000,000.00 at any one time outstanding, which could be increased thereunder to an aggregate principal amount not exceeding $750,000,000.00 at any one time outstanding, subject to the terms and conditions set forth therein; and
WHEREAS, the Borrower has requested an amendment and restatement of the Existing Credit Agreement to, among other things, extend the “Maturity Date” currently scheduled under the Existing Credit Agreement and to implement certain other modifications to the terms and provisions of the Existing Credit Agreement.
NOW THEREFORE, in consideration of the mutual covenants and agreements contained in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree to amend and restate the Existing Credit Agreement as follows:
ARTICLE I.
DEFINITIONS AND ACCOUNTING TERMS
1.01Defined Terms.  As used in this Agreement, the following terms shall have the meanings set forth below:
“Accounting Requirements” has the meaning specified in the Indenture; provided that references to the “Company” shall be deemed to be references to the Borrower.
“Adjusted Term SOFR” means, for purposes of any calculation, the rate per annum equal to (a) Term SOFR for such calculation plus (b) 0.10%; provided that if Adjusted Term SOFR as so determined shall ever be less than the Floor, then Adjusted Term SOFR shall be deemed to be the Floor.
“Administrative Agent” means CFC in its capacity as administrative agent under any of the Loan Documents, or any successor in such capacity.
“Administrative Agent’s Office” means the Administrative Agent’s address and, as appropriate, account as set forth on Schedule 10.02, or such other address or account as the Administrative Agent may from time to time notify to the Borrower and the Lenders.
“Administrative Questionnaire” means an Administrative Questionnaire in any form approved by the Administrative Agent.
“Affected Financial Institution” means (a) any EEA Financial Institution or (b) any UK Financial Institution.
2

“Affiliate” means, with respect to any Person, another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified.  
“Aggregate Commitments” means the Commitments of all the Lenders.  The initial amount of the Aggregate Commitment in effect on the Closing Date is FIVE HUNDRED TWENTY MILLION DOLLARS ($520,000,000).
“Agreement” has the meaning specified in the introductory paragraph hereto.
“Alternate Base Rate” means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Rate for such day plus 0.50% and (c) Adjusted Term SOFR for a one-month tenor in effect on such day plus 1.00%; provided that in no event shall the Alternate Base Rate at any time be less than 0.00% per annum.  Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Rate or Adjusted Term SOFR shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds Rate or Adjusted Term SOFR, respectively.  
“Alternate Base Rate Term SOFR Determination Day” has the meaning specified in the definition of “Term SOFR”.
“Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to the Borrower from time to time concerning the regulation or legislation of bribery or corruption (including, without limitation, the FCPA).
“Applicable Percentage” means with respect to any Lender at any time, the percentage (carried out to the ninth decimal place) of the Aggregate Commitments represented by such Lender’s Commitment at such time, subject to adjustment as provided in Section 2.16.  If the commitment of each Lender to make Loans and the obligation of each L/C Issuer to make L/C Credit Extensions have been terminated pursuant to Section 8.02 or if the Aggregate Commitments have expired, then the Applicable Percentage of each Lender shall be determined based on the Applicable Percentage of such Lender most recently in effect, giving effect to any subsequent assignments.  The initial Applicable Percentage of each Lender is set forth opposite the name of such Lender on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable.
3

“Applicable Rate” means, from time to time, the following percentages per annum, based upon the Debt Rating as set forth below:
															
	Pricing Level	Debt Ratings
S&P/Moody’s/Fitch	Commitment Fee	SOFR Loan +
Letters of Credit	Base Rate
Loan
	1	AA-/Aa3/AA-
or higher	0.060%	0.800%	0.000%

	2	A+/A1/A+	0.080%	0.900%	0.000%

	3	A/A2/A	0.100%	1.000%	0.000%

	4	A-/A3/A-	0.125%	1.125%	0.125%

	5	BBB+/Baa1/BBB+	0.175%	1.250%	0.250%

	6	BBB/Baa2/BBB
or lower	0.300%	1.500%	0.500%

As of the Closing Date, the Applicable Rate shall be determined based upon Pricing Level 4.  Thereafter, each change in the Applicable Rate resulting from a publicly announced change in the Debt Rating shall be effective, in the case of an upgrade, during the period commencing not later than five days after the date of delivery by the Borrower to the Administrative Agent of notice thereof pursuant to Section 6.03(f) and ending on the date immediately preceding the effective date of the next such change and, in the case of a downgrade, during the period commencing on the date of the public announcement thereof and ending on the date immediately preceding the effective date of the next such change.
“Approved Fund” means any Fund that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender.
“Arranger” means CFC, in its capacity as sole lead arranger and sole book runner.
“Assignee Group” means two or more Eligible Assignees that are Affiliates of one another or two or more Approved Funds managed by the same investment advisor.
“Assignment and Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the consent of any party whose consent is required by Section 10.06(b)), and accepted by the Administrative Agent, in substantially the form of Exhibit E or any other form (including electronic documentation generated by use of an electronic platform) approved by the Administrative Agent.
“Audited Financial Statements” means the audited consolidated balance sheet of the Borrower and its subsidiaries for the Fiscal Year ended December 31, 2021, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such Fiscal Year of the Borrower and its subsidiaries, including the notes thereto.
“Auto-Extension Letter of Credit” has the meaning specified in Section 2.03(b)(iii).
4

“Auto-Reinstatement Letter of Credit” has the meaning specified in Section 2.03(b)(iv).
“Availability Period” means the period from and including the Closing Date to the earliest of (a) the Maturity Date, (b) the date of termination of the Aggregate Commitments pursuant to Section 2.06, and (c) the date of termination of the commitment of each Lender to make Loans and of the obligation of each L/C Issuer to make L/C Credit Extensions pursuant to Section 8.02.
“Available Tenor” means, as of any date of determination and with respect to the then-current Benchmark, as applicable, (x) if such Benchmark is a term rate, any tenor for such Benchmark (or component thereof) that is or may be used for determining the length of an interest period pursuant to this Agreement or (y) otherwise, any payment period for interest calculated with reference to such Benchmark (or component thereof) that is or may be used for determining any frequency of making payments of interest calculated with reference to such Benchmark pursuant to this Agreement, in each case, as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition of “Interest Period” pursuant to Section 3.07(d).
“Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution.
“Bail-In Legislation” means, (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, regulation, rule or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation, or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration, or other insolvency proceedings).
 “Balloon Indebtedness” means a promissory note repayable in periodic installments of a specified amount usually representing interest, with a much larger final payment, which may be the entire principal amount.
“Base Rate Committed Loan” means a Committed Loan that is a Base Rate Loan.
“Base Rate Loan” means a Loan that bears interest based on the Alternate Base Rate.
“Benchmark” means, initially, the Term SOFR Reference Rate; provided that if a Benchmark Transition Event has occurred with respect to the Term SOFR Reference Rate or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to Section 3.07(a).
“Benchmark Replacement” means, with respect to any Benchmark Transition Event,: the first alternative set forth in the order below that can be determined by the Administrative Agent for the applicable Benchmark Replacement Date:
(a) the sum of (i) Daily Simple SOFR and (ii) 0.10% (10 basis points); or
(b) the sum of: (i) the alternate benchmark rate that has been selected by the Administrative Agent and the Borrower giving due consideration to (A) any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate 
5

by the Relevant Governmental Body or (B) any evolving or then-prevailing market convention for determining a benchmark rate as a replacement to the then-current Benchmark for Dollar-denominated syndicated credit facilities and (ii) the related Benchmark Replacement Adjustment.
If the Benchmark Replacement as determined pursuant to clause (a) or (b) above would be less than the Floor, the Benchmark Replacement will be deemed to be the Floor for the purposes of this Agreement and the other Loan Documents. 
“Benchmark Replacement Adjustment” means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement, the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by the Administrative Agent and the Borrower giving due consideration to (a) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body on the applicable Benchmark Replacement Date or (b) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement for Dollar-denominated syndicated credit facilities at such time.
“Benchmark Replacement Date” means a date and time determined by the Administrative Agent, which date shall be no later than the earliest to occur of the following events with respect to the then-current Benchmark:
(a)    in the case of clause (a) or (b) of the definition of “Benchmark Transition Event,” the later of (i) the date of the public statement or publication of information referenced therein and (ii) the date on which the administrator of such Benchmark (or the published component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such Benchmark (or such component thereof); or
(b)    in the case of clause (c) of the definition of “Benchmark Transition Event,” the first date on which such Benchmark (or the published component used in the calculation thereof) has been determined and announced by the regulatory supervisor for the administrator of such Benchmark (or such component thereof) to be non-representative; provided that such non-representativeness will be determined by reference to the most recent statement or publication referenced in such clause (c) and even if any Available Tenor of such Benchmark (or such component thereof) continues to be provided on such date.
For the avoidance of doubt, the “Benchmark Replacement Date” will be deemed to have occurred in the case of clause (a) or (b) with respect to any Benchmark upon the occurrence of the applicable event or events set forth therein with respect to all then-current Available Tenors of such Benchmark (or the published component used in the calculation thereof).
“Benchmark Transition Event” means the occurrence of one or more of the following events with respect to the then-current Benchmark:
(a)    a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof), permanently or indefinitely; provided that, at the time of such statement or publication, there is no successor 
6

administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof);
(b)    a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof), the Federal Reserve Board, the Federal Reserve Bank of New York, an insolvency official with jurisdiction over the administrator for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator for such Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark (or such component), which states that the administrator of such Benchmark (or such component) has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof) permanently or indefinitely; provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof); or
(c)    a public statement or publication of information by any of the entities referenced in clause (b) above announcing that all Available Tenors of such Benchmark (or such component thereof) are not, or as of a specified future date will not be, representative.
For the avoidance of doubt, a “Benchmark Transition Event” will be deemed to have occurred with respect to any Benchmark if a public statement or publication of information set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in the calculation thereof).
    “Benchmark Unavailability Period” means, the period (if any) (a) beginning at the time that a Benchmark Replacement Date has occurred if, at such time, no Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 3.07 and (b) ending at the time that a Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 3.07.
“Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I of ERISA, (b) a “plan” as defined in Section 4975 of the Code, or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”.
“Beneficial Ownership Certification” means a certification regarding beneficial ownership as required by the Beneficial Ownership Regulation.
“Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230.
“BHC Act Affiliate” of a party means an “affiliate” (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party.
“Bond Documents” means, with respect to any Bonds, any trust indenture or similar document pursuant to which such Bonds are issued and any loan agreement, promissory note or similar document that provides security or a source of funding for the debt service on such Bonds.
“Bond Letter of Credit” means any Letter of Credit that provides credit or liquidity support for Bonds.
“Bonds” means any bonds, notes or other evidences of indebtedness issued by or on behalf of the Borrower or any Subsidiary of the Borrower.
7

“Borrower” has the meaning specified in the introductory paragraph hereto.
“Borrower Materials” has the meaning specified in Section 6.02.
“Borrowing” means a Committed Borrowing or a Swing Line Borrowing, as the context may require.
“Business Day” means any day (a) that the office of the Administrative Agent is not closed and (b) that is not a Saturday, Sunday or other day that is a legal holiday under the laws of the State of New York or is a day on which banking institutions in such state are authorized or required by Law to close.
 “Cash Collateralize” means to pledge and deposit with or deliver to the Administrative Agent, for the benefit of the Administrative Agent, L/C Issuers or Swing Line Lender (as applicable) and the Lenders, as collateral for L/C Obligations, Obligations in respect of Swing Line Loans, or obligations of Lenders to fund participations in respect of either thereof (as the context may require), cash or deposit account balances or, if the L/C Issuer or Swing Line Lender benefitting from such collateral shall agree in its sole discretion, other credit support, in each case pursuant to documentation in form and substance satisfactory to (a) the Administrative Agent and (b) the L/C Issuer or the Swing Line Lender (as applicable).  “Cash Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support.
“CFC” means National Rural Utilities Cooperative Finance Corporation, a cooperative association organization existing under the laws of the District of Columbia.
“CFC Line of Credit Rate” means, for any day, a rate per annum equal to the rate published by CFC from time to time, by electronic or other means, for similarly classified lines of credit, but, if not so published, the CFC Line of Credit Rate shall be the rate per annum determined by CFC for such lines of credit from time to time.
“Change in Law” means the occurrence, after the date of this Agreement, of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any Governmental Authority, (c) any new, or adjustment to, requirements prescribed by the Board of Governors for “Eurocurrency Liabilities” (as defined in Regulation D of the Board of Governors), requirements imposed by the Federal Deposit Insurance Corporation, or similar requirements imposed by any domestic or foreign governmental authority or resulting from compliance by Administrative Agent or any Lender with any request or directive (whether or not having the force of law) from any central bank or other Governmental Authority and related in any manner to SOFR, the Term SOFR Reference Rate, Adjusted Term SOFR or Term SOFR, or (d) the making or issuance of any request, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law”, regardless of the date enacted, adopted or issued.
“Change of Control” means, with respect to the Borrower, (a) failure to be a member owned cooperative corporation or (b) a majority of the Members existing on the date hereof cease to be Members of the Borrower; provided that for purposes of this definition of “Change of 
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Control” no acquisition or merger between Members existing on the date hereof shall be deemed to affect the calculation of such percentage of Members.
“Closing Date” means the first date all the conditions precedent in Section 4.01 are satisfied or waived in accordance with Section 10.01.
“CoBank” means CoBank, ACB, a federally chartered instrumentality of the United States.
“CoBank Equities” means any of Borrower’s stock, patronage refunds issued in the form of stock or otherwise constituting allocated units, patronage surplus (including any such surplus accrued by CoBank for the account of Borrower) and other equities in CoBank acquired in connection with, or because of the existence of, Borrower’s patronage loan from CoBank (or its affiliate), and the proceeds of any of the foregoing.
“Code” means the Internal Revenue Code of 1986, as amended.
“Collateral” has the meaning given to “Mortgaged Property” in the Indenture.
“Collateral Documents” means, collectively, the Indenture and each of the other agreements, instruments or documents that creates or purports to create a Lien in favor of the Trustee for the benefit of the Secured Parties.
“Commitment” means, as to each Lender, its obligation to (a) make Committed Loans to the Borrower pursuant to Section 2.01, (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.
“Commitment Fee” has the meaning specified in Section 2.09(a).
“Committed Borrowing” means a borrowing consisting of simultaneous Committed Loans of the same Type and, in the case of a SOFR Borrowing, having the same Interest Period made by each of the Lenders pursuant to Section 2.01.
“Committed Loan” has the meaning specified in Section 2.01.
“Committed Loan Notice” means a notice of (a) a Committed Borrowing, (b) a conversion of Committed Loans from one Type to the other, or (c) a continuation of SOFR Loans, pursuant to Section 2.02(b), which shall be substantially in the form of Exhibit A or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the Borrower
“Compliance Certificate” means a certificate substantially in the form of Exhibit D.
“Conforming Changes” means, with respect to either the use or administration of Term SOFR or the use, administration, adoption or implementation of any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “Alternate Base Rate,” the definition of “Business Day,” the definition of “U.S. Government Securities Business Day,” the definition of “Interest Period” or any similar or analogous definition (or the addition of a concept of “interest period”), timing and frequency of determining 
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rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of Section 3.05 and other technical, administrative or operational matters) that the Administrative Agent decides may be appropriate to reflect the adoption and implementation of any such rate or to permit the use and administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration of any such rate exists, in such other manner of administration as the Administrative Agent decides is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents).
“Connection Income Taxes” means Other Connection Taxes which are imposed on or measured by net income (however denominated) or which are franchise Taxes or branch profits Taxes.
“Continuing Lenders” has the meaning specified in Article XI to this Agreement.
“Contract Termination Payment” means the net cash actually paid to the Borrower by a Member as part of such Member’s termination of its Wholesale Power Contract with Borrower; provided that any cash paid to the Borrower by a Member or any other Person, or any amounts reasonably allocated by the Borrower, for any Mortgage Property, Excluded Property or Excepted Property sold, conveyed, or assigned to the Member shall not be part of a Contract Termination Payment; and provided further that the amendment or restatement of a Wholesale Power Contract after the Closing Date to constitute a partial requirements contract (in which a Member is permitted to provide up to a percentage of its power requirements and future power requirements from sources other than the Borrower) shall not constitute a termination of such Wholesale Power Contract.
“Contractual Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound.
“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise.  “Controlling” and “Controlled” have meanings correlative thereto.
“Covered Entity” means any of the following: (x) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b); (y) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or (z) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b).
“Covered Party” has the meaning set forth in Section 10.21. 
“CP Backup Sublimit” means an amount equal to the lesser of (a) FIVE HUNDRED MILLION DOLLARS ($500,000,000) and (b) the Aggregate Commitments.  The CP Backup Sublimit is part of, and not in addition to, the Aggregate Commitments.
“Credit Extension” means each of the following: (a) a Borrowing and (b) an L/C Credit Extension.
“Daily Simple SOFR” means, for any day, SOFR, with the conventions for this rate (which will include a lookback) being established by the Administrative Agent in accordance 
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with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Daily Simple SOFR” for syndicated business loans; provided that if the Administrative Agent decides that any such convention is not administratively feasible for the Administrative Agent, then the Administrative Agent may, in consultation with the Borrower, establish another convention in its reasonable discretion.
“Debt Rating” means, as of any date of determination, the rating as determined by any of S&P, Moody’s or Fitch as the Borrower’s long-term senior secured non-credit enhanced debt rating; provided that, (a) in the event that the Borrower has three Debt Ratings, (i) if two of the three Debt Ratings are at the same level, then the applicable rating level shall be the level of the two Debt Ratings that are the same and (ii) if none of the three Debt Ratings are the same, the middle Debt Rating will apply, (b) in the event that the Borrower only has two Debt Ratings, (i) if the two Debt Ratings fall into different rating levels and one of such Debt Ratings is no more than one rating level lower than the other of such Debt Ratings, then the applicable rating level shall be the higher of such ratings and (ii) if the two Debt Ratings fall into different rating levels and one of such Debt Ratings is two or more rating levels lower than the other of such Debt Ratings, then the applicable Rating level shall be determined by reference to a hypothetical Debt Rating that would fall into the rating level that is one higher than the rating level into which the lower of such Debt Ratings falls; and (c) if the Borrower has only one Debt Rating, then the applicable rating level shall be such Debt Rating, and (d) if the Borrower does not have any Debt Rating, Pricing Level 6 shall apply.
“Debt Service Ratio” has the meaning specified in the Indenture.
“Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally.
“Default” means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default.
“Default Rate” means (a) when used with respect to Obligations other than Letter of Credit Fees, an interest rate equal to the Alternate Base Rate plus 2.00% per annum; provided that with respect to a SOFR Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan plus 2.00% per annum, and (b) when used with respect to Letter of Credit Fees, a rate equal to the Applicable Rate plus 2.00% per annum.
“Default Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.
“Defaulting Lender” means, subject to Section 2.16, any Lender that (a) has failed to (i) fund any portion of the Committed Loans, participations in L/C Obligations or participations in Swing Line Loans required to be funded by it hereunder within two Business Days of the date required to be funded by it hereunder unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay to the Administrative Agent, any L/C Issuer, the Swing Line Lender or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit or Swing Line Loans) within two Business Days of the date when due, (b) has notified the Borrower, the Administrative Agent or any L/C Issuer or the Swing Line Lender in 
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writing that it does not intend to comply with its obligations under the Loan Documents, or has made a public statement to that effect (unless such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three Business Days after written request by the Administrative Agent or the Borrower, to confirm in writing to the Administrative Agent and the Borrower that it will comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the Borrower), or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity, or (iii) become the subject of a Bail-In Action; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any Equity Interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender.  Any determination by the Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.16) upon delivery of written notice of such determination to the Borrower, each L/C Issuer, the Swing Line Lender and each Lender.
“Departing Lenders” has the meaning specified in Article XI to this Agreement.
“Disposition” or “Dispose” means the sale, transfer, license, lease or other disposition (including any sale and leaseback transaction) of any Mortgaged Property by any Person, including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith.
“Dividing Person” has the meaning assigned to it in the definition of “Division.”
“Division” means the division of the assets, liabilities and/or obligations of a Person (the “Dividing Person”) among two or more Persons (whether pursuant to a “plan of division” or similar arrangement), which may or may not include the Dividing Person and pursuant to which the Dividing Person may or may not survive.
“Dollar” and “$” mean the lawful money of the United States.
“EEA Financial Institution” means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clause (a) or (b) of this definition and is subject to consolidated supervision with its parent.
“EEA Member Country” means any of the member states of the European Union, Iceland, Liechtenstein, and Norway.
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“EEA Resolution Authority” means any public administrative authority or any person entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution.
“Eligible Assignee” means any Person that meets the requirements to be an assignee under Section 10.06(b)(iii) and (v) (subject to such consents, if any, as may be required under Section 10.06(b)(iii)).
“Engagement Letter” means that certain letter agreement, dated March 3, 2022, among the Administrative Agent, CFC, as the Lead Arranger, and the Borrower, as amended, modified or supplemented from time to time.
“Environmental Laws” means any and all Federal, state, local, and foreign statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or 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.
“Environmental Liability” means any liability, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the Borrower or any of its Subsidiaries directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the Release or threatened Release of any Hazardous Materials into the environment, or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing.
“Equity Interests” means, with respect to any Person, all of the shares of capital stock of (or patronage equities or other ownership or profit interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership or profit interests in) such Person, all of the securities convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or acquisition from such Person of such shares (or such other interests), and all of the other ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such shares, warrants, options, rights or other interests are outstanding on any date of determination.
“Equity to Capitalization Ratio” has the meaning specified in the Indenture.
“ERISA” means the Employee Retirement Income Security Act of 1974.
“ERISA Affiliate” means any trade or business (whether or not incorporated) under common control with the Borrower within the meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code).
“ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) the failure by the Borrower or any ERISA Affiliate to meet all applicable requirements under the Pension Funding Rules or the filing of an application for the waiver of the minimum funding standards under the Pension Funding Rules; (c) the incurrence by the Borrower or any ERISA Affiliate of any liability pursuant to Section 4063 or 4064 of ERISA or a cessation of operations with respect to a Pension Plan within the meaning of Section 4062(e) of ERISA; (d) a complete 
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or partial withdrawal by the Borrower or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is insolvent (within the meaning of Title IV of ERISA); (e) the filing of a notice of intent to terminate a Pension Plan under, or the treatment of a Pension Plan amendment as a termination under, Section 4041 of ERISA; (f) the institution by the PBGC of proceedings to terminate a Pension Plan; (g) any event or condition that constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan; (h) the determination that any Pension Plan is in at-risk status (within the meaning of Section 430 of the Code or Section 303 of ERISA) or that a Multiemployer Plan is in endangered or critical status (within the meaning of Section 432 of the Code or Section 305 of ERISA); (i) the imposition or incurrence of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Borrower or any ERISA Affiliate; (j) the engagement by the Borrower or any ERISA Affiliate in a transaction that could be subject to Section 4069 or Section 4212(c) of ERISA; (k) the imposition of a lien upon the Borrower pursuant to Section 430(k) of the Code or Section 303(k) of ERISA; or (l) the making of an amendment to a Pension Plan that could result in the posting of bond or security under Section 436(f)(1) of the Code.
“Erroneous Payment” has the meaning assigned to it in Section 9.12(a).
“Erroneous Payment Deficiency Assignment” has the meaning assigned to it in Section 9.12(d).
“Erroneous Payment Impacted Class” has the meaning assigned to it in Section 9.12(d).
“Erroneous Payment Return Deficiency” has the meaning assigned to it in Section 9.12(d).
“Erroneous Payment Subrogation Rights” has the meaning assigned to it in Section 9.12(d).
“ESG” has the meaning specified in Section 2.19.
“ESG Amendment” has the meaning specified in Section 2.19.
“ESG Pricing Provisions” has the meaning specified in Section 2.19.
“ESG Rating” has the meaning specified in Section 2.19.
“EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to time.
“Event of Default” has the meaning specified in Section 8.01.
“Excluded Taxes” means, with respect to the Administrative Agent, any Lender, an L/C Issuer or any other recipient of any payment to be made by or on account of any obligation of the Borrower hereunder, (a) taxes imposed on or measured by its overall net income (however denominated), and franchise taxes imposed on it, by the jurisdiction (or any political subdivision thereof) under the Laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable Lending Office is located, (b) any branch profits taxes imposed by the United States or any similar tax imposed by any other jurisdiction in which the Borrower is located, (c) any backup withholding tax that is required by the Code to be withheld from amounts payable to a Lender that has failed to comply with clause (A) of Section 3.01(e)(i), (d) in the case of a Foreign Lender (other than an assignee pursuant to a request by the Borrower under Section 3.06 or Section 10.13), any United States 
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federal withholding tax that (i) is required to be imposed on amounts payable to such Foreign Lender pursuant to the Laws in force at the time such Foreign Lender becomes a party hereto (or designates a new Lending Office) or (ii) is attributable to such Foreign Lender’s failure or inability (other than as a result of a Change in Law) to comply with clause (B) of Section 3.01(e)(ii), except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new Lending Office (or assignment), to receive additional amounts from the Borrower with respect to such withholding tax pursuant to Section 3.01(a) or (c), and (e) any Taxes imposed under FATCA.
“Existing Credit Agreement” has the meaning set forth in the recitals to this Agreement.
“Existing Maturity Date” has the meaning specified in Section 2.17(a).
“Extension Date” has the meaning specified in Section 2.17(a).
“Farm Credit Lender” means a lending institution organized and existing pursuant to the provisions of the Farm Credit Act of 1971 and under the regulation of the Farm Credit Administration.
“FASB ASC” means the Accounting Standards Codification of the Financial Accounting Standards Board.
“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code and any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities and implementing such Sections of the Code.
“FCPA” means the Foreign Corrupt Practices Act of 1977, as amended.
“Federal Funds Rate” means, for any day, the weighted average (rounded upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of 1%) of the quotations for such day for such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by it.
“Fee Letter” means the Engagement Letter and any L/C Issuer Fee Letter.
“Fiscal Year” means the fiscal year adopted by Borrower for the Borrower from time to time.  Unless the Administrative Agent is notified otherwise in writing by the Borrower, the Fiscal Year of the Borrower ends on December 31.
“Fitch” means Fitch, Inc., Fitch Ratings Ltd. or, in each case, any successor or assignee of the business of such company in the business of rating securities.
“Flood Laws” means, collectively, (a) the National Flood Insurance Act of 1968, (b) the Flood Disaster Protection Act of 1973, (c) the National Flood Insurance Reform Act of 1994 and (d) the Flood Insurance Reform Act of 2004, in each case, as now or hereinafter in effect, and any successor statute thereto, and all such other applicable Laws related thereto.
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“Floor” means a rate of interest equal to 0.00%.
“Foreign Lender” means any Lender that is not a “United States person” within the meaning of Section 7701(a)(30) of the Code.
“FRB” means the Board of Governors of the Federal Reserve System of the United States.
“Fronting Exposure” means, at any time there is a Defaulting Lender, (a) with respect to the L/C Issuers, such Defaulting Lender’s Applicable Percentage of the outstanding L/C Obligations other than L/C Obligations as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof, and (b) with respect to the Swing Line Lender, such Defaulting Lender’s Applicable Percentage of Swing Line Loans other than Swing Line Loans as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof.
“Fund” means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its activities.
“GAAP” means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or such other principles as may be approved by a significant segment of the accounting profession in the United States, that are applicable to the circumstances as of the date of determination, consistently applied.
“Governmental Authority” means the government of the United States or any other nation, or of any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank).
“Guarantee” has the meaning specified in the Indenture.
“Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to any Environmental Law.
“Honor Date” has the meaning specified in Section 2.03(c)(i).
“Illegality Notice” has the meaning specified in Section 3.02.
“Incoming Lenders” has the meaning specified in Article XI to this Agreement.
“Indebtedness” has the meaning given to the term “Debt” in the Indenture; provided that references to the “Company” shall be deemed to be references to the Borrower.
“Indemnified Taxes” means Taxes other than Excluded Taxes.
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“Indemnitees” has the meaning specified in Section 10.04(b).
“Indenture” means the Master First Mortgage Indenture, Deed of Trust and Security Agreement dated as of December 15, 1999 (as supplemented, amended or otherwise modified from time to time) between the Borrower and the Trustee, a copy of which has been provided to CFC and the Lenders.
“Information” has the meaning specified in Section 10.07.
“Interest Payment Date” means, (a) as to any SOFR Loan, the last day of each Interest Period applicable to such Loan and the Maturity Date; provided that if any Interest Period for a SOFR Loan exceeds three months, each day prior to the last day of such Interest Period that occurs at three-month intervals after the first day of such Interest Period and the Maturity Date; (b) as to any Base Rate Loan, the last Business Day of each March, June, September and December and the Maturity Date; and (c) as to any Swing Line Loan, the day that such Loan is required to be repaid.
“Interest Period” means, as to any Borrowing, the period commencing on the date of such Loan or Borrowing and ending on the numerically corresponding day in the calendar month that is one, three, or six months thereafter (in each case, subject to the availability thereof), as specified in the applicable Committed Loan Notice; provided that (i) if any Interest Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day, (ii) any Interest Period that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period, (iii) no Interest Period shall extend beyond the Maturity Date and (iv) no tenor that has been removed from this definition pursuant to Section 3.07(d) shall be available for specification in such Committed Loan Notice.  For purposes hereof, the date of a Loan or Borrowing initially shall be the date on which such Loan or Borrowing is made and thereafter shall be the effective date of the most recent conversion or continuation of such Loan or Borrowing.
“Investment” means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of (a) the purchase or other acquisition of capital stock or other securities of another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of debt of, or purchase or other acquisition of any other debt or equity participation or interest in, another Person, including any partnership or joint venture interest in such other Person and any arrangement pursuant to which the investor Guarantees Indebtedness of such other Person, or (c) the purchase or other acquisition (in one transaction or a series of transactions) of assets of another Person that constitute a business unit.  For purposes of Section 7.02(i), the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment.
“IP Rights” has the meaning specified in Section 5.19.
“IRS” means the United States Internal Revenue Service.
“ISP” means, with respect to any Letter of Credit, the “International Standby Practices 1998” published by the Institute of International Banking Law & Practice, Inc. (or such later version thereof as may be in effect at the time of issuance).
“Issuer Documents” means with respect to any Letter of Credit, the Letter of Credit Application, and any other document, agreement and instrument entered into by the applicable L/
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C Issuer and the Borrower or in favor of the applicable L/C Issuer and relating to such Letter of Credit.
“Key Performance Indicators” has the meaning specified in Section 2.19.
“Laws” means, collectively, all international, foreign, Federal, state and local statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not having the force of law.
“L/C Advance” means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.
“L/C Borrowing” means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Committed Borrowing.
“L/C Credit Extension” means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof.
“L/C Issuer” means CFC or U.S. Bank National Association, in each case in its capacity as an issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder.
“L/C Issuer Fee Letter” means any letter agreement between an L/C Issuer and the Borrower providing for the payment of a fronting fee to such L/C Issuer, in each case, as amended, modified or supplemented from time to time.
“L/C Obligations” means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings.  For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.07.  For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.
“Lender” has the meaning specified in the introductory paragraph hereto and, as the context requires, includes the Swing Line Lender.
“Lending Office” means, as to any Lender, the office or offices of such Lender described as such in such Lender’s Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify the Borrower and the Administrative Agent.
“Letter of Credit” means any letter of credit issued hereunder providing for the payment of cash upon the honoring of a presentation thereunder.  Notwithstanding anything to the contrary contained herein, a letter of credit issued by an L/C Issuer other than CFC shall not be a “Letter of Credit” for purposes of the Loan Documents until such time as the Administrative Agent has been notified in writing of the issuance thereof by the applicable L/C Issuer and has confirmed with such L/C Issuer that there exists adequate availability under the Aggregate Commitments to issue such letter of credit.
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“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 applicable L/C Issuer.
“Letter of Credit Commitment” means, with respect to CFC, $75,000,000, with respect to U.S. Bank National Association, $37,500,000, and, with respect to any other L/C Issuer, the amount determined by such L/C Issuer at the time it becomes an L/C Issuer as communicated to the Administrative Agent in a written notice.
“Letter of Credit Expiration Date” means the day that is seven days prior to the Maturity Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).
“Letter of Credit Fee” has the meaning specified in Section 2.03(h).
“Letter of Credit Report” has the meaning specified in Section 2.03(k).
“Letter of Credit Sublimit” means an amount equal to SEVENTY FIVE MILLION DOLLARS ($75,000,000).  The Letter of Credit Sublimit is part of, and not in addition to, the Aggregate Commitments.
“Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to real property, and any financing lease having substantially the same economic effect as any of the foregoing).
“Liquidity Drawing” means, in respect of any Bonds supported by a Bond Letter of Credit, any drawing under such Bond Letter of Credit the proceeds of which are used to pay the purchase price of such Bonds tendered for purchase by the Borrower (or any Subsidiary of the Borrower) and not otherwise remarketed.
“Loan” means an extension of credit by a Lender to the Borrower under Article II in the form of a Committed Loan or a Swing Line Loan.
“Loan Documents” means this Agreement, each Note, each Issuer Document, any agreement creating or perfecting rights in Cash Collateral pursuant to the provisions of Section 2.15 of this Agreement, and the Fee Letter.
 “Long-Term Debt” has the meaning given it in accordance with Accounting Requirements.
“Material Adverse Effect” means (a) a material adverse change in, or a material adverse effect upon, the operations, business, properties, liabilities (actual or contingent), condition (financial or otherwise) or prospects of the Borrower or the Borrower and its Subsidiaries taken as a whole; (b) a material impairment of the ability of the Borrower to perform its obligations under any Loan Document or Collateral Document to which it is a party; or (c) a material adverse effect upon the legality, validity, binding effect or enforceability against the Borrower of any Loan Document or Collateral Document to which it is a party.
“Maturity Date” means the later of (a) April 25, 2027 and (b) if the Maturity Date is extended pursuant to Section 2.17, such extended Maturity Date as determined pursuant to such Section; provided, however, that, in each case, if such date is not a Business Day, the Maturity Date shall be the next preceding Business Day.
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“Member” means each holder of a voting membership interest in the Borrower that have executed a Wholesale Power Contract with the Borrower.
“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.
“Mortgaged Property” has the meaning specified in the Indenture.
“Multiemployer Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which the Borrower or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated to make contributions.
“Multiple Employer Plan” means a Plan which has two or more contributing sponsors (including the Borrower or any ERISA Affiliate) at least two of whom are not under common control, as such a plan is described in Section 4064 of ERISA.
“New Maturity Date” has the meaning specified in Section 2.17(a).
“Non-Consenting Lender” has the meaning specified in Section 10.03.
“Non-Defaulting Lender” means at any time each Lender that is not a Defaulting Lender as such time.
“Non-Extending Lender” has the meaning specified in Section 2.17(b).
“Non-Extension Notice Date” has the meaning specified in Section 2.03(b)(iii).
“Non-Reinstatement Deadline” has the meaning specified in Section 2.03(b)(iv).
“Note” means a promissory note made by the Borrower in favor of a Lender evidencing Loans made by such Lender, substantially in the form of Exhibit C.
“Notice Date” has the meaning specified in Section 2.17(b).
“Notice of Extension Amendment” means, with respect to any Bond Letter of Credit, a written notice signed by the L/C Issuer with respect to such Letter of Credit and delivered to the Borrower and the trustee for the applicable Bonds evidencing the extension of the expiry date of such Letter of Credit.
“Obligations” means all advances to, and debts, liabilities, obligations, covenants and duties of, the Borrower arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit, whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against the Borrower or any of its Affiliates thereof of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding.
“OFAC” means the U.S. Department of the Treasury’s Office of Foreign Assets Control, and any successor thereto.
“Organization Documents” means, (a) with respect to any corporation, the certificate or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents 
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with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation or organization and operating agreement; and (c) with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or organization and any agreement, instrument, filing or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable, any certificate or articles of formation or organization of such entity.
“Other Connection Taxes” means, with respect to the Administrative Agent, any Lender, any L/C Issuer or any other recipient of any payment to be made by or on account of any obligation of Borrower under any Loan Document, Taxes imposed as a result of a present or former connection between such Person and the jurisdiction imposing such Tax (other than connections arising from such Person having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced by any Loan Document or Collateral Document, or sold or assigned an interest in any Loan, Loan Document or Collateral Document).
“Other Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes or any other excise or property taxes, charges or similar levies that arise from any payment made under, from the execution, delivery, or enforcement of, or otherwise with respect to, any Loan Document or Collateral Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment other than an assignment made pursuant to Section 3.06(b).
“Outstanding Amount” means (a) with respect to Committed Loans and Swing Line Loans on any date, the aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of Committed Loans and Swing Line Loans, as the case may be, occurring on such date; and (b) with respect to any L/C Obligations on any date, the amount of such L/C Obligations on such date after giving effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate amount of the L/C Obligations as of such date, including as a result of any reimbursements by the Borrower of Unreimbursed Amounts.
“Participant” has the meaning specified in Section 10.06(d).
“Participant Register” has the meaning specified in Section 10.06(d).
“Patriot Act” has the meaning specified in Section 10.18.
“Payment Recipient” has the meaning set forth in Section 9.12(a).
“PBGC” means the Pension Benefit Guaranty Corporation.
“Pension Funding Rules” means the rules of the Code and ERISA regarding minimum required contributions (including any installment payment thereof) to Pension Plans and set forth in Section 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA.
“Pension Plan” means any employee pension benefit plan (including a Multiple Employer Plan or a Multiemployer Plan) that is maintained or is contributed to by the Borrower and any ERISA Affiliate and is either covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code.
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“Periodic Term SOFR Determination Day” has the meaning specified in the definition of “Term SOFR”.
“Permitted Liens and Encumbrances” has the meaning specified in the Indenture.
“Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership (limited, general or limited liability), Governmental Authority or other entity.
“Plan” means any employee benefit plan within the meaning of Section 3(3) of ERISA (including a Pension Plan), maintained for employees of the Borrower or any ERISA Affiliate or any such Plan to which the Borrower or any ERISA Affiliate is required to contribute on behalf of any of its employees or with respect to which the Borrower has any liability.
“Platform” has the meaning specified in Section 6.02.
“Prime Rate” means the rate of interest per annum published from time to time as the “Prime Rate” by the Eastern Edition of The Wall Street Journal, or, if the Eastern Edition of The Wall Street Journal ceases publishing a “Prime Rate,” any successor publication selected by the Administrative Agent in its reasonable discretion; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective.  The “Prime Rate” published by the Eastern Edition of The Wall Street Journal or any such successor publication is a reference rate and does not necessarily represent the lowest or best rate charged by financial institutions to their customers.  The Lenders may make commercial loans or other loans at rates of interest at, above or below the “Prime Rate” published by the Eastern Edition of The Wall Street Journal or any such successor publication.
“Prudent Utility Practice” means any of the practices, methods and acts which, in the exercise of reasonable judgment, in light of the facts, including, but not limited to, the practices, methods and acts known to, engaged in, or approved by a significant portion of the electric utility industry during the relevant time period, known at the time the decision was made, could have been expected to accomplish the desired result at a reasonable cost consistent with good business practice, reliability, safety and expedition.  It is recognized that Prudent Utility Practice is not intended to be limited to the optimum practice, method or act to the exclusion of all others, but rather is a spectrum of possible practices, methods or acts which could have been expected to accomplish the desired result at a reasonable cost consistent with good business practice, reliability, safety and expedition.
“PTE” means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time.
“Public Lender” has the meaning specified in Section 6.02.
“QFC” has the meaning assigned to the term “qualified financial contract” in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D).
 “QFC Credit Support” has the meaning set forth in Section 10.21.
“Register” has the meaning specified in Section 10.06(c).
“Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees, agents, trustees and advisors of such Person and of such Person’s Affiliates.
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“Release” means any release, spill, emission, leaking, pumping, injection, deposit, disposal, discharge, dispersal, leaching or migration into the indoor or outdoor environment, including the movement of Hazardous Materials through ambient air, soil, surface water, ground water, wetlands, land or subsurface strata.
“Relevant Governmental Body” means the Federal Reserve Board or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Federal Reserve Board or the Federal Reserve Bank of New York, or any successor thereto.
“Reportable Event” means any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30-day notice period has been waived.
“Request for Credit Extension” means (a) with respect to a Borrowing, conversion or continuation of Committed Loans, a Committed Loan Notice, (b) with respect to an L/C Credit Extension, a Letter of Credit Application, and (c) with respect to a Swing Line Loan, a Swing Line Loan Notice.
“Required Lenders” means, as of any date of determination, Lenders having more than 50% of the Aggregate Commitments or, if the commitment of each Lender to make Loans and the obligations of each L/C Issuer to make L/C Credit Extensions have been terminated pursuant to Section 8.02, Lenders holding in the aggregate more than 50% of the Total Outstandings (with the aggregate amount of each Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Lender for purposes of this definition); provided that the Commitment of, and the portion of the Total Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders; provided, further, that the amount of any participation in any Swing Line Loan and Unreimbursed Amounts that such Defaulting Lender has failed to fund that have not been reallocated to and funded by another Lender shall be deemed to be held by the Lender that is the Swing Line Lender or L/C Issuer, as the case may be, in making such determination.
“Resolution Authority” means any EEA Resolution Authority or, with respect to any UK Financial Institution, any UK Resolution Authority.
“Responsible Officer” means the president and chairman, vice chairman, or treasurer of the Board of Directors, or the chief executive officer, chief financial officer or general counsel of the Borrower, and solely for purposes of the delivery of incumbency certificates pursuant to Section 4.01, the secretary or any assistant secretary or the treasurer of the Board of Directors and, solely for purposes of notices given pursuant to Article II, any other officer or employee of the Borrower so designated by any of the foregoing officers in a notice to the Administrative Agent or any other officer or employee of the Borrower designated in or pursuant to an agreement between the Borrower and the Administrative Agent.  Any document delivered hereunder that is signed by a Responsible Officer of the Borrower shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of the Borrower and such Responsible Officer shall be conclusively presumed to have acted on behalf of the Borrower.
“Restricted Payment” means any dividend or other distribution (whether in cash, securities or other property) with respect to any capital stock or other Equity Interest of the Borrower or any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any such capital stock or other Equity Interest, or on account of any return of capital to the Borrower’s stockholders, partners or 
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members (or the equivalent Person thereof), including without limitation return to its Members patronage capital allocated to such Members.
“Restricted Subsidiary” means any Subsidiary which has become a Restricted Subsidiary pursuant to Section 6.14 of this Agreement.  Restricted Subsidiaries on the Closing Date of this Agreement are listed on Schedule 5.14 to this Agreement.
“Restricted Use Account” means a Borrower’s internally restricted cash account.
“Revenues” has the meaning given to it in accordance with Accounting Requirements.
“S&P” means Standard & Poor’s Global Ratings, a subsidiary of The McGraw-Hill Companies, Inc. or any successor or assignee of the business of such division in the business of rating securities.
“Sanctioned Country” means, at any time, a country, region or territory which is itself the subject or target of any Sanctions (at the time of this Agreement, Donetsk People’s Republic, the so- called Luhansk People’s Republic, the Crimea Region of Ukraine, Cuba, Iran, North Korea and Syria).
“Sanctioned Person” means at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State or by the United Nations Security Council, the European Union, any European Union member state, Her Majesty’s Treasury of the United Kingdom or other relevant sanctions authority, (b) any Person operating, organized or resident in a Sanctioned Country, or (c) any Person owned or controlled by any such Person or Persons described in the foregoing clause (a) or (b).
“Sanctions” has the meaning specified in Section 5.26(a).
“SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal functions.
“Secured Note” means the amended and restated secured promissory note dated as of April 25, 2022, and executed by the Borrower in favor of the Administrative Agent for the benefit of each of the Lenders which constitutes the ‘Amended Series 2018A Secured Obligation’ (as defined in Supplement 44 to the Indenture).
“Secured Obligations” means all Long-Term Debt of the Borrower entitled to the benefit of the lien of the Indenture.
“Secured Parties” means, collectively, the Administrative Agent, the Lenders, the L/C Issuers, each co-agent or sub-agent appointed by the Administrative Agent from time to time pursuant to Section 9.05, and the other Persons the Obligations owing to which are or are purported to be secured by the Collateral under the terms of the Collateral Documents.
“SOFR” means a rate equal to the secured overnight financing rate as administered by the SOFR Administrator. 
“SOFR Administrator” means the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate).
“SOFR Borrowing” means, as to any Borrowing, the SOFR Loans comprising such Borrowing.
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“SOFR Loan” means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Alternate Base Rate”. 
“Solvent” means, with respect to any Person on a particular date, that (a) the book value of the total assets (net of depreciation) of such Person is greater than the total amount of the liabilities, including contingent liabilities, of such Person, (b) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay such debts and liabilities as they mature, and (c) such Person is not engaged in business, and is not about to engage in business, for which such Person’s property would constitute unreasonably small capital.
“Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company or other business entity of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than securities or interests having such power only by reason of the happening of a contingency) are at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such Person; provided that “Subsidiary” shall not mean, except in the case of Springerville Unit 3 Partnership LP, Springerville Unit 3 OP LLC, Springerville Unit 3 Holding LLC or Elk Ridge Mining and Reclamation, LLC, any corporation, partnership, joint venture, limited liability company or other business entity of which the total net worth does not exceed the Threshold Amount.  Unless otherwise specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of the Borrower.
“Supplement 44 to the Indenture” means the Supplemental Master Mortgage Indenture No. 44 dated as of April 25, 2022 (as supplemented, amended or otherwise modified from time to time) between the Borrower and the Trustee.
“Supported QFC” has the meaning specified for such term in Section 10.21.
“Sustainability Coordinator” means CFC, in its capacity as Sustainability Coordinator hereunder or any successor thereto.
“Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement.
“Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-
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market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender).
“Swing Line Borrowing” means a borrowing of a Swing Line Loan pursuant to Section 2.04.
“Swing Line Lender” means CFC in its capacity as provider of Swing Line Loans, or any successor swing line lender hereunder.
“Swing Line Loan” has the meaning specified in Section 2.04(a).
“Swing Line Loan Notice” means a notice of a Swing Line Borrowing pursuant to Section 2.04(b), which shall be substantially in the form of Exhibit B or such other form as approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the Borrower
“Swing Line Sublimit” means an amount equal to the lesser of (a) ONE HUNDRED TWENTY FIVE MILLION DOLLARS ($125,000,000) and (b) the Aggregate Commitments.  The Swing Line Sublimit is part of, and not in addition to, the Aggregate Commitments.
“System” has the meaning specified in the Indenture; provided that references to the “Company” shall be deemed to be references to the Borrower and references to a “Restricted Subsidiary” shall be deemed to be references a Restricted Subsidiary.
“Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.
“Term SOFR” means, 
(a)    for any calculation with respect to a SOFR Loan, the Term SOFR Reference Rate for a tenor comparable to the applicable Interest Period on the day (such day, the “Periodic Term SOFR Determination Day”) that is two (2) U.S. Government Securities Business Days prior to the first day of such Interest Period, as such rate is published by the Term SOFR Administrator; provided, however, that if as of 5:00 p.m. (New York City time) on any Periodic Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days prior to such Periodic Term SOFR Determination Day, and
(b)    for any calculation with respect to a Base Rate Loan on any day, the Term SOFR Reference Rate for a tenor of one month on the day (such day, the “Alternate Base Rate Term SOFR Determination Day”) that is two (2) U.S. Government Securities Business Days prior to such day, as such rate is published by the Term SOFR Administrator; provided, however, that if as of 5:00 p.m. (New York City time) on any Alternate Base Rate Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR 
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Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days prior to such Alternate Base Rate SOFR Determination Day.
“Term SOFR Administrator” means CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate selected by the Administrative Agent in its reasonable discretion).
“Term SOFR Reference Rate” means the forward-looking term rate based on SOFR.
“Threshold Amount” means FIFTY MILLION DOLLARS ($50,000,000).
“Total Outstandings” means the aggregate Outstanding Amount of all Loans and all L/C Obligations.
“Trustee” means U.S. Bank National Association, in its capacity as trustee under the Indenture until any successor “Trustee” shall have become “Trustee” pursuant to the applicable provisions of the Indenture, and thereafter means any such successor “Trustee”.
“Type” means, with respect to a Committed Loan, its character as a Base Rate Loan or a SOFR Loan.
“UK Financial Institution” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.
“UK Resolution Authority” means the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution.
“Unadjusted Benchmark Replacement” means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.
“United States” and “U.S.” mean the United States of America.
“Unreimbursed Amount” has the meaning specified in Section 2.03(c)(i).
“U.S. Government Securities Business Day” means any day except for (a) a Saturday, (b) a Sunday or (c) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities.
“U.S. Special Resolution Regimes” has the meaning set forth in Section 10.21. 
“Voting Participant” has the meaning specified in Section 10.06(e).
“Voting Participant Notification” has the meaning specified in Section 10.06(e).
“Withholding Agent” means the Borrower and the Administrative Agent.
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“Wholesale Power Contracts” means those certain contracts listed on Schedule 5.22 hereto for electric service between the Borrower and each of its Members and any future Members of the Borrower, as each may be amended, restated or supplemented from time to time.
“Write-Down and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule.
1.02Other Interpretive Provisions.  With reference to this Agreement and each other Loan Document, unless otherwise specified herein or in such other Loan Document:
(a)The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined.  Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms.  The words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation.”  The word “will” shall be construed to have the same meaning and effect as the word “shall.”  Unless the context requires otherwise, and except with respect to the Indenture, (i) any definition of or reference to any agreement, instrument or other document (including any Organization Document) shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein or in any other Loan Document), (ii) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (iii) the words “hereto,” “herein,” “hereof” and “hereunder,” and words of similar import when used in any Loan Document, shall be construed to refer to such Loan Document in its entirety and not to any particular provision thereof, (iv) all references in a Loan Document to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, the Loan Document in which such references appear, (v) any reference to any Law shall include all statutory and regulatory provisions consolidating, amending, replacing or interpreting such Law and any reference to any Law or regulation shall, unless otherwise specified, refer to such Law or regulation as amended, modified or supplemented from time to time, and (vi) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights.
(b)Notwithstanding Section 1.02(a)(i), any reference to the Indenture (or any Section thereof) shall be to the Indenture (and each such Section) as it exists as of the Closing Date; and, only as hereafter modified with the prior written consent of the Required Lenders, or the Lenders, in accordance with Section 10.01.  If the Required Lenders, or the Lenders, do not consent to any amendment to the Indenture, in accordance with Section 10.01, all references to the Indenture (and each such Section) shall be as it exists as of the date of this Agreement.
(c)In the computation of periods of time from a specified date to a later specified date, the word “from” means “from and including;” the words “to” and “until” each mean “to but excluding;” and the word “through” means “to and including.”
(d)Section headings herein and in the other Loan Documents are included for convenience of reference only and shall not affect the interpretation of any Loan Document.
1.03Accounting Terms.  
(a)Generally.  All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in 
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conformity with, Accounting Requirements applied on a consistent basis, as in effect from time to time, except as otherwise specifically prescribed herein.
(b)Changes in Accounting Requirements.  If at any time any change in Accounting Requirements would affect the computation of any financial ratio or requirement set forth in any Loan Document or Collateral Document, and either the Borrower or the Required Lenders shall so request, the Administrative Agent, the Lenders and the Borrower shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in Accounting Requirements (subject to the approval of the Required Lenders); provided that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with Accounting Requirements prior to such change therein and (ii) the Borrower shall provide to the Administrative Agent and the Lenders financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in Accounting Requirements.
(c)Consolidation of Variable Interest Entities.  All references herein to consolidated financial statements of the Borrower and its subsidiaries or to the determination of any amount for the Borrower and its subsidiaries on a consolidated basis or any similar reference shall, in each case, be deemed to include each variable interest entity that the Borrower is required to consolidate pursuant to FASB ASC 810 as if such variable interest entity were a Subsidiary as defined herein.
1.04Rounding.  Any financial ratios required to be maintained by the Borrower pursuant to this Agreement shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding the result up or down to the nearest number (with a rounding-up if there is no nearest number).
1.05Times of Day.  Unless otherwise specified, all references herein to times of day shall be references to Eastern time (daylight or standard, as applicable).
1.06Divisions.  For all purposes under the Loan Documents, in connection with any Division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws):  (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized and acquired on the first date of its existence by the holders of its Equity at such time.
1.07Letter of Credit Amounts.  Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided that with respect to any Letter of Credit that, by its terms or the terms of any Issuer Document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time.
1.08Rates.  The Administrative Agent does not warrant or accept responsibility for, and shall not have any liability with respect to (a) the continuation of, administration of, submission of, calculation of or any other matter related to Alternate Base Rate, the Term SOFR Reference Rate, Adjusted Term SOFR or Term SOFR, or any component definition thereof or rates referred to in the definition thereof, or any alternative, successor or replacement rate thereto (including any Benchmark Replacement), including whether the composition or characteristics of any such alternative, successor or replacement rate (including any Benchmark Replacement) will be similar to, or produce the same value or economic equivalence of, or have the same volume or 
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liquidity as, Alternate Base Rate, the Term SOFR Reference Rate, Adjusted Term SOFR, Term SOFR or any other Benchmark prior to its discontinuance or unavailability, or (b) the effect, implementation or composition of any Conforming Changes.  The Administrative Agent and its Affiliates or other related entities may engage in transactions that affect the calculation of Alternate Base Rate, the Term SOFR Reference Rate, Term SOFR, Adjusted Term SOFR, any alternative, successor or replacement rate (including any Benchmark Replacement) or any relevant adjustments thereto, in each case, in a manner adverse to the Borrower.  The Administrative Agent may select information sources or services in its reasonable discretion to ascertain Alternate Base Rate, the Term SOFR Reference Rate, Term SOFR, Adjusted Term SOFR or any other Benchmark, in each case pursuant to the terms of this Agreement, and shall have no liability to the Borrower, any Lender or any other person or entity for damages of any kind, including direct or indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or calculation of any such rate (or component thereof) provided by any such information source or service.
ARTICLE II.
THE COMMITMENTS AND CREDIT EXTENSIONS
2.01Committed Loans.  Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, a “Committed Loan”) to the Borrower from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Commitment; provided that after giving effect to any Committed Borrowing, (i) the Total Outstandings shall not exceed the Aggregate Commitments (ii) the aggregate Outstanding Amount of the Committed Loans of any Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Commitment and (iii) the aggregate Outstanding of Committed Loans advanced to provide liquidity to the Borrower’s commercial paper program shall not exceed the CP Backup Sublimit.  Within the limits of each Lender’s Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01, prepay under Section 2.05, and reborrow under this Section 2.01.  Committed Loans may be Base Rate Loans or SOFR Loans, as further provided herein.
2.02Borrowings, Conversions and Continuations of Committed Loans.  Each Committed Borrowing, each conversion of Committed Loans from one Type to the other, and each continuation of SOFR Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by (A) telephone or (B) a Committed Loan Notice; provided that any telephonic notice must be confirmed immediately by delivery to the Administrative Agent of a Committed Loan Notice.  Each such Committed Loan Notice must be received by the Administrative Agent not later than 10:00 a.m. (Eastern time), in the case of Base Rate Loans, or 11:00 a.m. (Eastern time), in the case of SOFR Loans, in each case, (i) three U.S. Government Securities Business Days prior to the requested date of any Borrowing of, conversion to or continuation of SOFR Loans or of any conversion of SOFR Loans to Base Rate Committed Loans, and (ii) on the Business Day of the requested date of any Borrowing of Base Rate Committed Loans; provided that if the Borrower wishes to request SOFR Loans having an Interest Period other than one, three or six months in duration as provided in the definition of “Interest Period,”  the applicable notice must be received by the Administrative Agent not later than 11:00 a.m. (Eastern time) four U.S. Government Securities Business Days prior to the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them.  Not later than 11:00 a.m. (Eastern time), three U.S. Government Securities Business Days before the requested date of such Borrowing, conversion or continuation, the Administrative Agent shall notify the Borrower (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all 
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the Lenders.  Each Borrowing of, conversion to or continuation of SOFR Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof.  Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Committed Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof.  Each Committed Loan Notice shall specify (i) whether the Borrower is requesting a Committed Borrowing, a conversion of Committed Loans from one Type to the other, or a continuation of SOFR Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Committed Loans to be borrowed, converted or continued, (iv) the Type of Committed Loans to be borrowed or to which existing Committed Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect thereto.  If the Borrower fails to specify a Type of Committed Loan in a Committed Loan Notice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Committed Loans shall be made as, or converted to, Base Rate Loans.  Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable SOFR Loans.  If the Borrower requests a Borrowing of, conversion to, or continuation of SOFR Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month.
(a)Following receipt of a Committed Loan Notice, the Administrative Agent shall promptly notify each Lender of the amount of its Applicable Percentage of the applicable Committed Loans, and if no timely notice of a conversion or continuation is provided by the Borrower, the Administrative Agent shall notify each Lender of the details of any automatic conversion to Base Rate Loans described in the preceding clause.  In the case of a Committed Borrowing, each Lender shall make the amount of its Committed Loan available to the Administrative Agent in immediately available funds at the Administrative Agent’s Office not later than 12:00 p.m. (Eastern time), in the case of Base Rate Loans, or 2:00 p.m. (Eastern time), in the case of SOFR Loans, in each case, on the Business Day specified in the applicable Committed Loan Notice.  Upon satisfaction of the applicable conditions set forth in Section 4.02 (and, if such Borrowing is the initial Credit Extension, Section 4.01), the Administrative Agent shall make all funds so received available to the Borrower in like funds as received by the Administrative Agent either by (i) crediting the account of the Borrower on the books of CFC with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower; provided that if, on the date the Committed Loan Notice with respect to such Borrowing is given by the Borrower, there are L/C Borrowings outstanding, then the proceeds of such Borrowing, first, shall be applied to the payment in full of any such L/C Borrowings, and second, shall be made available to the Borrower as provided above.
(b)Except as otherwise provided herein, a SOFR Loan may be continued or converted only on the last day of an Interest Period for such SOFR Loan.  During the existence of a Default, no Loans may be requested as, converted to or continued as SOFR Loans without the consent of the Required Lenders.
(c)The Administrative Agent shall promptly notify the Borrower and the Lenders of the interest rate applicable to any Interest Period for SOFR Loans upon determination of such interest rate.  At any time that Base Rate Loans are outstanding, the Administrative Agent shall notify the Borrower and the Lenders of any change in Prime Rate used in determining the Alternate Base Rate promptly following the public announcement of such change. 
(d)After giving effect to all Committed Borrowings, all conversions of Committed Loans from one Type to the other, and all continuations of Committed Loans as the same Type, there shall not be more than 15 Interest Periods in effect with respect to Committed Loans.
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2.03Letters of Credit.
(a)The Letter of Credit Commitment.
(i)Subject to the terms and conditions set forth herein, (A) each L/C Issuer agrees, in reliance upon the agreements of the Lenders set forth in this Section 2.03,  (1) from time to time on any Business Day during the period from the Closing Date until the Letter of Credit Expiration Date, to issue Letters of Credit for the account of the Borrower, and to amend or extend  Letters of Credit previously issued by it, in accordance with clause (b) below, and (2) to honor drawings under the Letters of Credit; and (B) the Lenders severally agree to participate in Letters of Credit issued for the account of the Borrower and any drawings thereunder; provided that after giving effect to any L/C Credit Extension with respect to any Letter of Credit, (w) the Total Outstandings shall not exceed the Aggregate Commitments, (x) the aggregate Outstanding Amount of the Committed Loans of any Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Commitment, (y) the Outstanding Amount of the L/C Obligations attributable to any L/C Issuer shall not exceed such L/C Issuer’s Letter of Credit Commitment, and (z) the Outstanding Amount of the L/C Obligations shall not exceed the Letter of Credit Sublimit.  Each request by the Borrower for the issuance or amendment of a Letter of Credit shall be deemed to be a representation by the Borrower that the L/C Credit Extension so requested complies with the conditions set forth in the proviso to the preceding sentence.  Within the foregoing limits, and subject to the terms and conditions hereof, the Borrower’s ability to obtain Letters of Credit shall be fully revolving, and accordingly the Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed.
(ii)No L/C Issuer shall issue any Letter of Credit, if:
(A)subject to Section 2.03(b)(iii), the expiry date of the requested Letter of Credit would occur more than twelve months after the date of issuance or last extension, unless the Required Lenders have approved such expiry date; or
(B)the expiry date of the requested Letter of Credit would occur after the Letter of Credit Expiration Date, unless all the Lenders have approved such expiry date.
(iii)No L/C Issuer shall be under any obligation to issue any Letter of Credit if:
(A)any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain the applicable L/C Issuer from issuing the Letter of Credit, or any Law applicable to such L/C Issuer or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over such L/C Issuer shall prohibit, or request that such L/C Issuer refrain from, the issuance of letters of credit generally or the Letter of Credit in particular or shall impose upon such L/C Issuer with respect to the Letter of Credit any restriction, reserve or capital requirement (for which such L/C Issuer is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon such L/C Issuer any unreimbursed loss, cost or expense which was not applicable on the Closing Date and which such L/C Issuer in good faith deems material to it;
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(B)the issuance of the Letter of Credit would violate one or more policies of the applicable L/C Issuer applicable to letters of credit generally;
(C)except as otherwise agreed by the Administrative Agent and the applicable L/C Issuer, the Letter of Credit is in an initial stated amount less than $100,000;
(D)the Letter of Credit is to be denominated in a currency other than Dollars;
(E)any Lender is at that time a Defaulting Lender, unless the applicable L/C Issuer has entered into arrangements, including the delivery of Cash Collateral, satisfactory to such L/C Issuer (in its sole discretion) with the Borrower or such Lender to eliminate such L/C Issuer’s actual or potential Fronting Exposure (after giving effect to Section 2.16(a)(iv)) with respect to the Defaulting Lender arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other L/C Obligations as to which such L/C Issuer has actual or potential Fronting Exposure, as it may elect in its sole discretion;  or
(F)the Letter of Credit contains any provisions for automatic reinstatement of the stated amount after any drawing thereunder; provided, however, a Bond Letter of Credit may provide that (1) after any drawing thereunder to pay interest on Bonds, the stated amount of such Bond Letter of Credit shall be automatically reinstated in the amount of such drawing after a specified period of time unless, prior to the expiration of such period, the beneficiary of such Bond Letter of Credit has received notice from the L/C Issuer that it has not been reimbursed for such drawing; and (2) after any Liquidity Drawing thereunder, the stated amount of such Bond Letter of Credit shall be automatically reinstated in an amount equal to the principal amount of any Bonds previously purchased with the proceeds of such Liquidity Drawing that have been remarketed to investors where the proceeds of such remarketing have been received by applicable L/C Issuer and applied to the repayment of the Unreimbursed Amount, Committed Loans or advances related to such Liquidity Drawing.
(iv)The applicable L/C Issuer shall not amend any Letter of Credit if such L/C Issuer would not be permitted at such time to issue the Letter of Credit in its amended form under the terms hereof.
(v)The applicable L/C Issuer shall be under no obligation to amend any Letter of Credit if (A) such L/C Issuer would have no obligation at such time to issue the Letter of Credit in its amended form under the terms hereof, or (B) the beneficiary of the Letter of Credit does not accept the proposed amendment to the Letter of Credit.
(vi)Each L/C Issuer shall act on behalf of the Lenders with respect to any Letters of Credit issued by it and the documents associated therewith, and each L/C Issuer shall have all of the benefits and immunities (A) provided to the Administrative Agent in Article IX with respect to any acts taken or omissions suffered by such L/C Issuer in connection with Letters of Credit issued by it or proposed to be issued by it and Issuer Documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in Article IX included such L/C Issuer with respect to such acts or omissions, and (B) as additionally provided herein with respect to each L/C Issuer.
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(b)Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of Credit.
(i)Each Letter of Credit shall be issued or amended, as the case may be, upon the request of the Borrower delivered to the applicable L/C Issuer as the Borrower may elect (with a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible Officer of the Borrower.  Such Letter of Credit Application may be sent by facsimile, by United States mail, by overnight courier, by electronic transmission using the system provided by the applicable L/C Issuer, by personal delivery or by any other means acceptable to the applicable L/C Issuer.  Such Letter of Credit Application must be received by the applicable L/C Issuer and the Administrative Agent not later than 11:00 a.m. (Eastern time) at least 60 days, in the case of a Bond Letter of Credit, and at least five Business Days in the case of any other Letter of Credit (or such other date and time as the Administrative Agent and such L/C Issuer may agree in a particular instance in their sole discretion) prior to the proposed issuance date or date of amendment, as the case may be.  In the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the applicable L/C Issuer: (A) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name and address of the beneficiary thereof; (E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; (G) the purpose and nature of the requested Letter of Credit; (H) in the case of a Bond Letter of Credit, the Bond Documents; and (I) such other matters as such L/C Issuer may require.  In the case of a request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the applicable L/C Issuer (1) the Letter of Credit to be amended; (2) the proposed date of amendment thereof (which shall be a Business Day); (3) the nature of the proposed amendment; and (4) such other matters as such L/C Issuer may require.  Additionally, the Borrower shall furnish to the applicable L/C Issuer and the Administrative Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment, including any Issuer Documents, as the applicable L/C Issuer or the Administrative Agent may require.
(ii)Promptly after receipt of any Letter of Credit Application, the applicable L/C Issuer will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has received a copy of such Letter of Credit Application from the Borrower and, if not, such L/C Issuer will provide the Administrative Agent with a copy thereof.  Unless the applicable L/C Issuer has received written notice from any Lender, the Administrative Agent or the Borrower, at least one Business Day prior to the requested date of issuance or amendment of the applicable Letter of Credit, that one or more applicable conditions contained in Article IV shall not then be satisfied, then, subject to the terms and conditions hereof, such L/C Issuer shall, on the requested date, issue a Letter of Credit for the account of the Borrower or enter into the applicable amendment, as the case may be, in each case in accordance with such L/C Issuer’s usual and customary business practices.  Immediately upon the issuance of each Letter of Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the applicable L/C Issuer a risk participation in such Letter of Credit in an amount equal to the product of such Lender’s Applicable Percentage times the amount of such Letter of Credit.
(iii)If the Borrower so requests in any applicable Letter of Credit Application, the applicable L/C Issuer may, in its sole and absolute discretion, agree to issue a Letter 
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of Credit that has automatic extension provisions (each, an “Auto-Extension Letter of Credit”); provided that any such Auto-Extension Letter of Credit must permit such L/C Issuer to prevent any such extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at the time such Letter of Credit is issued.  Unless otherwise directed by the applicable L/C Issuer, the Borrower shall not be required to make a specific request to such L/C Issuer for any such extension.  Once an Auto-Extension Letter of Credit has been issued, the Lenders shall be deemed to have authorized (but may not require) the applicable L/C Issuer to permit the extension of such Letter of Credit at any time to an expiry date not later than the Letter of Credit Expiration Date; provided that such L/C Issuer shall not permit any such extension if (A) such L/C Issuer has determined that it would not be permitted, or would have no obligation, at such time to issue such Letter of Credit in its revised form (as extended) under the terms hereof (by reason of the provisions of clause (ii) or (iii) of Section 2.03(a) or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before the day that is seven Business Days before the Non-Extension Notice Date (1) from the Administrative Agent that the Required Lenders have elected not to permit such extension or (2) from the Administrative Agent, any Lender or the Borrower that one or more of the applicable conditions specified in Section 4.02 is not then satisfied, and in each such case directing the L/C Issuer not to permit such extension.
(iv)If the Borrower so requests in any applicable Letter of Credit Application, the applicable L/C Issuer may, in its sole discretion, agree to issue a Letter of Credit that permits the automatic reinstatement of all or a portion of the stated amount thereof after any drawing thereunder (each, an “Auto-Reinstatement Letter of Credit”).  Unless otherwise directed by the applicable L/C Issuer, the Borrower shall not be required to make a specific request to such L/C Issuer to permit such reinstatement.  Once an Auto-Reinstatement Letter of Credit has been issued, except as provided in the following sentence, the Lenders shall be deemed to have authorized (but may not require) the applicable L/C Issuer to reinstate all or a portion of the stated amount thereof in accordance with the provisions of such Letter of Credit.  Notwithstanding the foregoing, if such Auto-Reinstatement Letter of Credit permits such L/C Issuer to decline to reinstate all or any portion of the stated amount thereof after a drawing thereunder by giving notice of such non-reinstatement within a specified number of days after such drawing (the “Non-Reinstatement Deadline”), such L/C Issuer shall not permit such reinstatement if it has received a notice (which may be by telephone or in writing) on or before the day that is seven Business Days before the Non-Reinstatement Deadline (A) from the Administrative Agent that the Required Lenders have elected not to permit such reinstatement or (B) from the Administrative Agent, any Lender or the Borrower that one or more of the applicable conditions specified in Section 4.02 is not then satisfied (treating such reinstatement as an L/C Credit Extension for purposes of this clause) and, in each case, directing such L/C Issuer not to permit such reinstatement.
(v)Promptly after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with respect thereto or to the beneficiary thereof, the applicable L/C Issuer will also deliver to the Borrower and the Administrative Agent a true and complete copy of such Letter of Credit or amendment.  In the case of any extension of a Bond Letter of Credit, the L/C Issuer shall, upon satisfaction of the conditions applicable thereto, deliver to the Borrower and the trustee for the applicable Bonds a Notice of Extension Amendment to the Bond Letter of Credit designating the new expiry date and thereafter all references in any Bond Documents to the expiry date or stated expiration date of such Bond Letter of Credit shall be deemed to be references to 
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the date designated as such in the most recent Notice of Extension Amendment delivered to such trustee.
(c)Drawings and Reimbursements; Funding of Participations.
(i)Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the applicable L/C Issuer shall notify the Borrower and the Administrative Agent thereof.  Not later than 11:00 a.m. (Eastern time) on the date of any payment (except in the case of a Liquidity Drawing) by the applicable L/C Issuer under a Letter of Credit (each such date, an “Honor Date”), the Borrower shall reimburse such L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing.  If the Borrower fails to so reimburse the applicable L/C Issuer by such time, the Administrative Agent shall promptly notify each Lender of the Honor Date, the amount of the unreimbursed drawing (the “Unreimbursed Amount”), and the amount of such Lender’s Applicable Percentage thereof.  In such event, the Borrower shall be deemed to have requested a Committed Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.02 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the Aggregate Commitments and the conditions set forth in Section 4.02 (other than the delivery of a Committed Loan Notice).  Not later than 4:00 p.m. (Eastern time) on the Honor Date (in the case of a Liquidity Drawing), the Borrower shall reimburse such L/C Issuer through the Administrative Agent in an amount equal to the amount of such Liquidity Drawing.  If the Borrower fails to so reimburse the applicable L/C Issuer by such time, the Administrative Agent shall promptly notify each Lender of the Honor Date, the Unreimbursed Amount and the amount of such Lender’s Applicable Percentage thereof.  In such event, the Borrower shall be deemed to have requested a Committed Borrowing of Base Rate Loans to be disbursed in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.02 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the Aggregate Commitments and the conditions set forth in Section 4.02 (other than the delivery of a Committed Loan Notice).  Any notice given by an L/C Issuer or the Administrative Agent pursuant to this Section 2.03(c)(i) may be given by telephone if immediately confirmed in writing; provided that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice.
(ii)Each Lender shall upon any notice pursuant to Section 2.03(c)(i) make funds available (and the Administrative Agent may apply Cash Collateral provided for this purpose) for the account of the applicable L/C Issuer at the Administrative Agent’s Office in an amount equal to its Applicable Percentage of the Unreimbursed Amount not later than 1:00 p.m. (Eastern time) on the Business Day specified in such notice by the Administrative Agent, whereupon, subject to the provisions of Section 2.03(c)(iii), each Lender that so makes funds available shall be deemed to have made a Base Rate Committed Loan to the Borrower in such amount.  The Administrative Agent shall promptly remit the funds so received to such L/C Issuer.
(iii)With respect to any Unreimbursed Amount that is not fully refinanced by a Committed Borrowing of Base Rate Loans because the conditions set forth in Section 4.02 cannot be satisfied or for any other reason, the Borrower shall be deemed to have incurred from the applicable L/C Issuer an L/C Borrowing in the amount of the Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the Default Rate.  In such event, each Lender’s payment to the Administrative Agent for the account of such L/C Issuer pursuant to Section 2.03(c)(ii) shall be deemed payment in respect of its 
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participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender in satisfaction of its participation obligation under this Section 2.03.
(iv)Until each Lender funds its Committed Loan or L/C Advance pursuant to this Section 2.03(c) to reimburse the applicable L/C Issuer for any amount drawn under any Letter of Credit, interest in respect of such Lender’s Applicable Percentage of such amount shall be solely for the account of such L/C Issuer.
(v)Each Lender’s obligation to make Committed Loans or L/C Advances to reimburse the L/C Issuers for amounts drawn under Letters of Credit, as contemplated by this Section 2.03(c), shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right which such Lender may have against an L/C Issuer, the Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of a Default, or (C) any other occurrence, event or condition, whether or not similar to any of the foregoing; provided that each Lender’s obligation to make Committed Loans pursuant to this Section 2.03(c) is subject to the conditions set forth in Section 4.02 (other than delivery by the Borrower of a Committed Loan Notice).  No such making of an L/C Advance shall relieve or otherwise impair the obligation of the Borrower to reimburse an L/C Issuer for the amount of any payment made by an L/C Issuer under any Letter of Credit, together with interest as provided herein.
(vi)If any Lender fails to make available to the Administrative Agent for the account of the applicable L/C Issuer any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.03(c) by the time specified in Section 2.03(c)(ii), then, without limiting the other provisions of this Agreement, such L/C Issuer shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to such L/C Issuer at a rate per annum equal to the greater of the Federal Funds Rate and a rate determined by such L/C Issuer in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by such L/C Issuer in connection with the foregoing.  If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Lender’s Committed Loan included in the relevant Committed Borrowing or L/C Advance in respect of the relevant L/C Borrowing, as the case may be.  A certificate of the applicable L/C Issuer submitted to any Lender (through the Administrative Agent) with respect to any amounts owing under this clause (vi) shall be conclusive absent manifest error.
(d)Repayment of Participations.
(i)At any time after an L/C Issuer has made a payment under any Letter of Credit and has received from any Lender such Lender’s L/C Advance in respect of such payment in accordance with Section 2.03(c), if the Administrative Agent receives for the account of such L/C Issuer any payment in respect of the related Unreimbursed Amount or interest thereon (whether directly from the Borrower or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative Agent), the Administrative Agent will distribute to such Lender its Applicable Percentage thereof in the same funds as those received by the Administrative Agent.
(ii)If any payment received by the Administrative Agent for the account of an L/C Issuer pursuant to Section 2.03(c)(i) is required to be returned under any of the circumstances described in Section 10.05 (including pursuant to any settlement entered into by the L/C Issuer in its discretion), each Lender shall pay to the Administrative 
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Agent for the account of such L/C Issuer its Applicable Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned by such Lender, at a rate per annum equal to the Federal Funds Rate from time to time in effect.  The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement.
(e)Obligations Absolute.  The obligation of the Borrower to reimburse each L/C Issuer for each drawing under each Letter of Credit and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following:
(i)any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other Loan Document or Collateral Document;
(ii)the existence of any claim, counterclaim, setoff, defense or other right that the Borrower or any Subsidiary may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), such L/C Issuer or any other Person, whether in connection with this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction;
(iii)any draft, demand, certificate or other document presented under such Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to make a drawing under such Letter of Credit;
(iv)any payment by such L/C Issuer under such Letter of Credit against presentation of a draft or certificate that does not strictly comply with the terms of such Letter of Credit; or any payment made by such L/C Issuer under such Letter of Credit to any Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding under any Debtor Relief Law; or
(v)any other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other circumstance that might otherwise constitute a defense available to, or a discharge of, the Borrower or any Subsidiary.
The Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the event of any claim of noncompliance with the Borrower’s instructions or other irregularity, the Borrower will immediately notify the applicable L/C Issuer.  The Borrower shall be conclusively deemed to have waived any such claim against the applicable L/C Issuer and its correspondents unless such notice is given as aforesaid.
(f)Role of L/C Issuer.  Each Lender and the Borrower agree that, in paying any drawing under a Letter of Credit, the applicable L/C Issuer shall not have any responsibility to obtain any document (other than any sight draft, certificates and documents expressly required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of the Person executing or delivering any such document.  None of the applicable L/C Issuer, the Administrative Agent, any of their respective Related Parties nor any correspondent, participant or assignee of such L/C Issuer shall be liable to any Lender for (i) any action taken or omitted in connection herewith at the request or with the approval of the Lenders or the Required Lenders, as applicable; (ii) any action taken or omitted in the absence of gross 
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negligence or willful misconduct as determined by a final, nonappealable judgment of a court of competent jurisdiction; or (iii) the due execution, effectiveness, validity or enforceability of any document or instrument related to any Letter of Credit or Issuer Document.  The Borrower hereby assumes all risks of the acts or omissions of any beneficiary or transferee with respect to its use of any Letter of Credit; provided that this assumption is not intended to, and shall not, preclude the Borrower’s pursuing such rights and remedies as it may have against the beneficiary or transferee at law or under any other agreement.  None of the applicable L/C Issuer, the Administrative Agent, any of their respective Related Parties nor any correspondent, participant or assignee of such L/C Issuer shall be liable or responsible for any of the matters described in clauses (i) through (v) of Section 2.03(e); provided that anything in such clauses to the contrary notwithstanding, the Borrower may have a claim against the applicable L/C Issuer, and such L/C Issuer may be liable to the Borrower, to the extent, but only to the extent, of any direct, as opposed to consequential or exemplary, damages suffered by the Borrower which the Borrower proves were caused by such L/C Issuer’s willful misconduct or gross negligence as determined by a final, nonappealable judgment of a court of competent jurisdiction or such L/C Issuer’s willful failure to pay under any Letter of Credit after the presentation to it by the beneficiary of a sight draft and certificate(s) strictly complying with the terms and conditions of a Letter of Credit.  In furtherance and not in limitation of the foregoing, the applicable L/C Issuer may accept documents that appear on their face to be in order, without responsibility for further investigation, regardless of any notice or information to the contrary, and such L/C Issuer shall not be responsible for the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason.  An L/C Issuer may send a Letter of Credit or conduct any communication to or from the beneficiary via the Society for Worldwide Interbank Financial Telecommunication (SWIFT) message or overnight courier, or any other commercially reasonable means of communicating with a beneficiary.
(g)Applicability of ISP.  Unless otherwise expressly agreed by the applicable L/C Issuer and the Borrower when a Letter of Credit is issued, the rules of the ISP shall apply to each Letter of Credit.
(h)Letter of Credit Fees.  The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit equal to the Applicable Rate times the daily amount available to be drawn under such Letter of Credit; provided that any Letter of Credit Fees otherwise payable for the account of a Defaulting Lender with respect to any Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral satisfactory to the applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Lenders in accordance with the upward adjustments in their respective Applicable Percentages allocable to such Letter of Credit pursuant to Section 2.16(a)(iv), with the balance of such fee, if any, payable to such L/C Issuer for its own account.  For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.07.  Letter of Credit Fees shall be (i) due and payable on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand and (ii) computed on a quarterly basis in arrears.  If there is any change in the Applicable Rate during any quarter, the daily amount available to be drawn under each Letter of Credit shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.  Notwithstanding anything to the contrary contained herein, upon the request of the Required Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate.
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(i)Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer.  The Borrower shall pay directly to the applicable L/C Issuer for its own account a fronting fee with respect to each Letter of Credit, at the rate per annum specified in the Fee Letter, computed on the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears.  Such fronting fee shall be due and payable on the last Business Day of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand.  For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.07.  In addition, the Borrower shall pay directly to the applicable L/C Issuer for its own account the customary issuance, presentation, drawing, amendment, transfer and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect.  Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
(j)Conflict with Issuer Documents.  In the event of any conflict between the terms hereof and the terms of any Issuer Document, the terms hereof shall control.
(k)L/C Issuer Reports to the Administrative Agent.  Unless otherwise agreed by the Administrative Agent, each L/C Issuer shall, in addition to its notification obligations set forth elsewhere in this Section, provide the Administrative Agent a report (a “Letter of Credit Report”), as set forth below:
(i)reasonably prior to the time that such L/C Issuer issues, amends, renews, increases or extends a Letter of Credit, the date of such issuance, amendment, renewal, increase or extension and the stated amount of the applicable Letters of Credit after giving effect to such issuance, amendment, renewal or extension (and whether the amounts thereof shall have changed);
(ii)on each Business Day on which such L/C Issuer makes a payment pursuant to a Letter of Credit, the date and amount of such payment;
(iii)on any Business Day on which the Borrower fails to reimburse a payment made pursuant to a Letter of Credit required to be reimbursed to such L/C Issuer on such day, the date of such failure and the amount of such payment;
(iv)on any other Business Day, such other information as the Administrative Agent shall reasonably request as to the Letters of Credit issued by such L/C Issuer; and
(v)for so long as any Letter of Credit issued by an L/C Issuer is outstanding, such L/C Issuer shall deliver to the Administrative Agent (A) on the last Business Day of each calendar month, (B) at all other times a Letter of Credit Report is required to be delivered pursuant to this Agreement, and (C) on each date that (1) a Letter of Credit is issued, extended or increased or (2) there is any expiration, cancellation and/or disbursement, in each case, with respect to any such Letter of Credit, a Letter of Credit Report appropriately completed with the information for every outstanding Letter of Credit issued by such L/C Issuer.
2.04Swing Line Loans.
(a)The Swing Line.  Subject to the terms and conditions set forth herein, the Swing Line Lender agrees, in its sole discretion (it being understood that unless a Default has occurred and is continuing or any Lender is a Defaulting Lender (subject to Section 2.16), the Swing Line 
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Lender anticipates funding Swing Line Loans in accordance with the terms hereof) and in reliance upon the agreements of the other Lenders set forth in this Section 2.04, to make loans (each such loan, a “Swing Line Loan”) to the Borrower from time to time on any Business Day during the Availability Period in an aggregate amount not to exceed at any time outstanding the amount of the Swing Line Sublimit less the Applicable Percentage of the Outstanding Amount of Committed Loans and L/C Obligations of the Lender acting as the Swing Line Lender, notwithstanding the fact that such Swing Line Loans, when aggregated with the Applicable Percentage of the Outstanding Amount of Committed Loans and L/C Obligations of the Lender acting as Swing Line Lender, may exceed the amount of such Lender’s Commitment; provided that after giving effect to any Swing Line Loan, (i) the Total Outstandings shall not exceed the Aggregate Commitments, and (ii) the aggregate Outstanding Amount of the Committed Loans of any Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Commitment, and provided further that the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan.  Within the foregoing limits, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.04, prepay under Section 2.05, and reborrow under this Section 2.04.  Immediately upon the making of a Swing Line Loan, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such Lender’s Applicable Percentage times the amount of such Swing Line Loan.
(b)Borrowing Procedures.  Each Swing Line Borrowing shall be made upon the Borrower’s irrevocable notice to the Swing Line Lender and the Administrative Agent, which may be given by (A) telephone or (B) by a Swing Line Loan Notice; provided that any telephonic notice must be confirmed promptly by delivery to the Swing Line Lender and the Administrative Agent of a Swing Line Loan Notice.  Each such Swing Line Loan Notice must be received by the Swing Line Lender and the Administrative Agent not later than 10:00 a.m. (Eastern time) on the requested borrowing date, and shall specify (i) the amount to be borrowed and (ii) the requested borrowing date, which shall be a Business Day.  Promptly after receipt by the Swing Line Lender of any Swing Line Loan Notice, the Swing Line Lender will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has also received such Swing Line Loan Notice and, if not, the Swing Line Lender will notify the Administrative Agent (by telephone or in writing) of the contents thereof.  Unless the Swing Line Lender has received notice (by telephone or in writing) from the Administrative Agent (including at the request of any Lender) prior to 11:00 a.m. (Eastern time) on the date of the proposed Swing Line Borrowing (A) directing the Swing Line Lender not to make such Swing Line Loan as a result of the limitations set forth in the first proviso to the first sentence of Section 2.04(a), or (B) that one or more of the applicable conditions specified in Article IV is not then satisfied, then, subject to the terms and conditions hereof, the Swing Line Lender will, not later than 11:00 a.m. (Eastern time) on the borrowing date specified in such Swing Line Loan Notice, make the amount of its Swing Line Loan available to the Borrower at its office by crediting the account of the Borrower on the books of the Swing Line Lender in immediately available funds.
(c)Refinancing of Swing Line Loans.
(i)The Swing Line Lender at any time in its sole and absolute discretion may request, on behalf of the Borrower (which hereby irrevocably authorizes the Swing Line Lender to so request on its behalf), that each Lender make a Base Rate Committed Loan in an amount equal to such Lender’s Applicable Percentage of the amount of Swing Line Loans then outstanding; provided that, notwithstanding the foregoing, the Borrower hereby unconditionally promises to repay all Swing Line Loans within five Business Days of the date on which such Swing Line Loan was made.  Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice for 
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purposes hereof) and in accordance with the requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans, but subject to the unutilized portion of the Aggregate Commitments and the conditions set forth in Section 4.02.  The Swing Line Lender shall furnish the Borrower with a copy of the applicable Committed Loan Notice promptly after delivering such notice to the Administrative Agent.  Each Lender shall make an amount equal to its Applicable Percentage of the amount specified in such Committed Loan Notice available to the Administrative Agent in immediately available funds (and the Administrative Agent may apply Cash Collateral available with respect to the applicable Swing Line Loan) for the account of the Swing Line Lender at the Administrative Agent’s Office not later than 1:00 p.m. (Eastern time) on the day specified in such Committed Loan Notice, whereupon, subject to Section 2.04(c)(ii), each Lender that so makes funds available shall be deemed to have made a Base Rate Committed Loan to the Borrower in such amount.  The Administrative Agent shall remit the funds so received to the Swing Line Lender.
(ii)If for any reason any Swing Line Loan cannot be refinanced by such a Committed Borrowing in accordance with Section 2.04(c)(i), the request for Base Rate Committed Loans submitted by the Swing Line Lender as set forth herein shall be deemed to be a request by the Swing Line Lender that each of the Lenders fund its risk participation in the relevant Swing Line Loan and each Lender’s payment to the Administrative Agent for the account of the Swing Line Lender pursuant to Section 2.04(c)(i) shall be deemed payment in respect of such participation.
(iii)If any Lender fails to make available to the Administrative Agent for the account of the Swing Line Lender any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.04(c) by the time specified in Section 2.04(c)(i), the Swing Line Lender shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the Swing Line Lender at a rate per annum equal to the greater of the Prime Rate and a rate determined by the Swing Line Lender in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the Swing Line Lender in connection with the foregoing.  If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Lender’s Committed Loan included in the relevant Committed Borrowing or funded participation in the relevant Swing Line Loan, as the case may be.  A certificate of the Swing Line Lender submitted to any Lender (through the Administrative Agent) with respect to any amounts owing under this clause (iii) shall be conclusive absent manifest error.
(iv)Each Lender’s obligation to make Committed Loans or to purchase and fund risk participations in Swing Line Loans pursuant to this Section 2.04(c) shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right which such Lender may have against the Swing Line Lender, the Borrower or any other Person for any reason whatsoever, (B) the occurrence or continuance of a Default, or (C) any other occurrence, event or condition, whether or not similar to any of the foregoing; provided that each Lender’s obligation to make Committed Loans pursuant to this Section 2.04(c) is subject to the conditions set forth in Section 4.02.  No such funding of risk participations shall relieve or otherwise impair the obligation of the Borrower to repay Swing Line Loans, together with interest as provided herein.
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(d)Repayment of Participations.
(i)At any time after any Lender has purchased and funded a risk participation in a Swing Line Loan, if the Swing Line Lender receives any payment on account of such Swing Line Loan, the Swing Line Lender will distribute to such Lender its Applicable Percentage thereof in the same funds as those received by the Swing Line Lender.
(ii)If any payment received by the Swing Line Lender in respect of principal or interest on any Swing Line Loan is required to be returned by the Swing Line Lender under any of the circumstances described in Section 10.05 (including pursuant to any settlement entered into by the Swing Line Lender in its discretion), each Lender shall pay to the Swing Line Lender its Applicable Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned, at a rate per annum equal to the greater of the Prime Rate and a rate determined by the Swing Line Lender in accordance with banking industry rules on interbank compensation.  The Administrative Agent will make such demand upon the request of the Swing Line Lender.  The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement.
(e)Interest for Account of Swing Line Lender.  The Swing Line Lender shall be responsible for invoicing the Borrower for interest on the Swing Line Loans.  Until each Lender funds its Base Rate Committed Loan or risk participation pursuant to this Section 2.04 to refinance such Lender’s Applicable Percentage of any Swing Line Loan, interest in respect of such Applicable Percentage shall be solely for the account of the Swing Line Lender.
(f)Payments Directly to Swing Line Lender.  Until each Lender funds its Base Rate Committed Loan or risk participation pursuant to this Section 2.04 to refinance such Lender’s Applicable Percentage of any Swing Line Loan, the Borrower shall make all payments of principal and interest in respect of the Swing Line Loans directly to the Swing Line Lender.
2.05Prepayments.
(a)The Borrower may, upon notice to the Administrative Agent, at any time or from time to time voluntarily prepay Committed Loans in whole or in part without premium or penalty; provided that (i) such notice must be in a form acceptable to the Administrative Agent and received by the Administrative Agent not later than 11:00 a.m. (Eastern time) (A) three Business Days prior to any date of prepayment of SOFR Loans and (B) on the date of prepayment of Base Rate Committed Loans; (ii) any prepayment of SOFR Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof; and (iii) any prepayment of Base Rate Committed Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof or, in each case, if less, the entire principal amount thereof then outstanding.  Each such notice shall specify the date and amount of such prepayment and the Type(s) of Committed Loans to be prepaid and, if SOFR Loans are to be prepaid, the Interest Period(s) of such Loans.  The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment.  If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein.  Any prepayment of a SOFR Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05.  Subject to Section 2.16, each such prepayment shall be applied to the Committed Loans of the Lenders in accordance with their respective Applicable Percentages.
(b)The Borrower shall prepay any Unreimbursed Amount relating to any Liquidity Drawing under a Bond Letter of Credit (and any L/C Borrowings and, if an Event of Default 
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shall have occurred and be continuing, Committed Loans the proceeds of which were applied to the refinancing of such Unreimbursed Amount) on the earlier of (i) the date of the remarketing to investors of the Bonds purchased with the proceeds of such Liquidity Drawing, the amount of such prepayment to be equal to the principal amount of the Bonds so remarketed, and (ii) the date on which such Bond Letter of Credit is replaced with another liquidity or credit facility pursuant to the applicable Issuer Documents, the amount of such prepayment to be equal to the full amount of such Unreimbursed Amount, L/C Borrowings or Committed Loans, as the case may be.
(c)The Borrower may, upon notice to the Swing Line Lender (with a copy to the Administrative Agent), at any time or from time to time, voluntarily prepay Swing Line Loans in whole or in part without premium or penalty; provided that such notice must be received by the Swing Line Lender and the Administrative Agent not later than 12:00 noon (Eastern time) on the date of the prepayment.  Each such notice shall specify the date and amount of such prepayment.  If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein.
(d)If for any reason the Total Outstandings at any time exceed the Aggregate Commitments then in effect, the Borrower shall immediately prepay Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided that the Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(d) unless after the prepayment in full of the Loans the Total Outstandings exceed the Aggregate Commitments then in effect.
2.06Termination or Reduction of Commitments.  The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments, or from time to time permanently reduce the Aggregate Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. (Eastern time) three Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $5,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the Borrower shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings would exceed the Aggregate Commitments, and (iv) if, after giving effect to any reduction of the Aggregate Commitments, the CP Backup Sublimit, Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Commitments, such sublimit shall be automatically reduced by the amount of such excess.  The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Commitments.  Any reduction of the Aggregate Commitments shall be applied to the Commitment of each Lender according to its Applicable Percentage.  All fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination.
2.07Repayment of Loans.
(a)The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of Committed Loans outstanding on such date.
(b)The Borrower shall repay each Swing Line Loan on the earlier to occur of (i) the date as provided in Section 2.04(c)(i) and (ii) the Maturity Date.
Unless otherwise specified herein or in any other Loan Document, all outstanding Obligations shall be due and payable on the Maturity Date.
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2.08Interest.
(a)Subject to the provisions of clause (b) below, (i) each SOFR Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Adjusted Term SOFR for such Interest Period plus the Applicable Rate for SOFR Loans; (ii) each Base Rate Committed Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Alternate Base Rate plus the Applicable Rate for Base Rate Loans; and (iii) each Swing Line Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to (A) with respect to any portion of any Swing Line Loan that has not been acquired by the Lenders as a participation pursuant to Section 2.04(c), the CFC Line of Credit Rate (provided that CFC is the Swing Line Lender at such time), and (B) with respect to any portion of any Swing Line Loan that has been acquired by the Lenders as a participation pursuant to Section 2.04(c) or if CFC is not the Swing Line Lender at such time, the Alternate Base Rate plus the Applicable Rate for Base Rate Loans.
(b)(i)    If any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(ii)    If any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iii)    Upon the request of the Required Lenders, while any Event of Default exists, the Borrower shall pay interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iv)    Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand.
(c)Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein.  Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.
(d)In connection with the use or administration of Term SOFR, the Administrative Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document.  The Administrative Agent will promptly notify the Borrower and the Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of Term SOFR.
2.09Fees.  In addition to certain fees described in clauses (h) and (i) of Section 2.03:
(a)Commitment Fee.  The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage, a commitment fee equal to the Applicable Rate times the actual daily amount by which the Aggregate Commitments exceed the sum of (i) the Outstanding Amount of Committed Loans and (ii) the Outstanding Amount of 
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L/C Obligations, subject to adjustment as provided in Section 2.16 (such fee, the “Commitment Fee”).  The commitment fee shall accrue at all times during the Availability Period, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the last day of the Availability Period.  The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.  For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be counted towards or considered usage of the Aggregate Commitments for purposes of determining the commitment fee.
(b)Other Fees.  The Borrower shall pay to the Arranger, each L/C Issuer and the Administrative Agent fees in the amounts and at the times specified in the Fee Letter.  Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever.
2.10Computation of Interest and Fees.  All computations of interest for Base Rate Loans (including Base Rate Loans determined by reference to the Adjusted Term SOFR) and Swing Line Loans determined by reference to the CFC Line of Credit Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed.  All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year).  Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid; provided that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.12(a), bear interest for one day.  Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
2.11Evidence of Debt.
(a)The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and by the Administrative Agent in the ordinary course of business.  The accounts or records maintained by the Administrative Agent and each Lender shall be conclusive absent manifest error of the amount of the Credit Extensions made by the Lenders to the Borrower and the interest and payments thereon.  Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations.  In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error.  Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note, which shall evidence such Lender’s Loans in addition to such accounts or records.  Each Lender may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto.
(b)In addition to the accounts and records referred to in clause (a) above, each Lender and the Administrative Agent shall maintain in accordance with its usual practice accounts or records evidencing the purchases and sales by such Lender of participations in Letters of Credit and Swing Line Loans.  In the event of any conflict between the accounts and records maintained by the Administrative Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error.
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2.12Payments Generally; Administrative Agent’s Clawback
(a)General.  All payments to be made by the Borrower shall be made free and clear of and without condition or deduction for any counterclaim, defense, recoupment or setoff.  Except as otherwise expressly provided herein, all payments by the Borrower hereunder shall be made to the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at the Administrative Agent’s Office in Dollars and in immediately available funds not later than 2:00 p.m. (Eastern time) on the date specified herein.  The Administrative Agent will promptly distribute to each Lender its Applicable Percentage (or other applicable share as provided herein) of such payment in like funds as received by wire transfer to such Lender’s Lending Office.  All payments received by the Administrative Agent after 2:00 p.m. (Eastern time) shall be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue.  Except as otherwise provided in clause (a) of the definition of “Interest Payment Date”, if any payment to be made by the Borrower shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be.
(b)Presumptions by the Administrative Agent.
(i)Funding by Lenders.  Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Committed Borrowing of SOFR Loans (or, in the case of any Committed Borrowing of Base Rate Loans, prior to 11:00 a.m. (Eastern time) on the date of such Committed Borrowing) that such Lender will not make available to the Administrative Agent such Lender’s share of such Committed Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with Section 2.02 (or, in the case of a Committed Borrowing of Base Rate Loans, that such Lender has made such share available in accordance with and at the time required by Section 2.02) and may, in reliance upon such assumption, make available to the Borrower a corresponding amount.  In such event, if a Lender has not in fact made its share of the applicable Committed Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount in immediately available funds with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (A) in the case of a payment to be made by such Lender, the greater of the Prime Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the Administrative Agent in connection with the foregoing, and (B) in the case of a payment to be made by the Borrower, the interest rate applicable to Base Rate Loans.  If the Borrower and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period.  If such Lender pays its share of the applicable Committed Borrowing to the Administrative Agent, then the amount so paid shall constitute such Lender’s Committed Loan included in such Committed Borrowing.  Any payment by the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that shall have failed to make such payment to the Administrative Agent.
(ii)Payments by Borrower.  Unless the Administrative Agent shall have received notice from the Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the L/C Issuers hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the 
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Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the L/C Issuers, as the case may be, the amount due.  In such event, if the Borrower has not in fact made such payment, then each of the Lenders or the L/C Issuers, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or such L/C Issuer, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Prime Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation.
A notice of the Administrative Agent to any Lender or the Borrower with respect to any amount owing under this clause (b) shall be conclusive, absent manifest error.
(c)Failure to Satisfy Conditions Precedent.  If any Lender makes available to the Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the applicable Credit Extension set forth in Article IV are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest.
(d)Obligations of Lenders Several.  The obligations of the Lenders hereunder to make Committed Loans, to fund participations in Letters of Credit and Swing Line Loans and to make payments pursuant to Section 10.04(c) are several and not joint.  The failure of any Lender to make any Committed Loan, to fund any such participation or to make any payment under Section 10.04(c) on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its Committed Loan, to purchase its participation or to make its payment under Section 10.04(c).
(e)Funding Source.  Nothing herein shall be deemed to obligate any Lender to obtain the funds for any Loan in any particular place or manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner.
2.13Sharing of Payments by Lenders.  If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of the Committed Loans made by it, or the participations in L/C Obligations or in Swing Line Loans held by it resulting in such Lender’s receiving payment of a proportion of the aggregate amount of such Committed Loans or participations and accrued interest thereon greater than its pro rata share thereof as provided herein, then the Lender receiving such greater proportion shall (a) notify the Administrative Agent of such fact, and (b) purchase (for cash at face value) participations in the Committed Loans and subparticipations in L/C Obligations and Swing Line Loans of the other Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Committed Loans and other amounts owing them; provided that:
(i)if any such participations or subparticipations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations or subparticipations shall be rescinded and the purchase price restored to the extent of such recovery, without interest; and
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(ii)the provisions of this Section shall not be construed to apply to (w) any payment made by or on behalf of the Borrower pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting Lender), (x) the application of Cash Collateral provided for in Section 2.15, (y) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Committed Loans or subparticipations in L/C Obligations or Swing Line Loans to any assignee or participant, other than an assignment to the Borrower or any Subsidiary thereof (as to which the provisions of this Section shall apply) or (z) the exercise by CoBank of its rights against any CoBank Equities held by the Borrower.
The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable Law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of the Borrower in the amount of such participation.
This Section 2.13 shall not apply to any action taken by CoBank with respect to any CoBank Equities held by the Borrower.
2.14Increase in Commitments
(a)Request for Increase.  Provided no Default has occurred and is continuing, upon notice to the Administrative Agent (which shall promptly notify the Lenders), the Borrower may from time to time, request an increase in the Aggregate Commitments by an amount (for all such requests) not exceeding ONE HUNDRED MILLION DOLLARS ($100,000,000); provided that any such request for an increase shall be in a minimum amount of TWENTY FIVE MILLION DOLLARS ($25,000,000).  At the time of sending such notice, the Borrower (in consultation with the Administrative Agent) shall specify the time period within which each Lender is requested to respond (which shall in no event be less than ten Business Days from the date of delivery of such notice to the Lenders).
(b)Lender Elections to Increase.  Each Lender shall notify the Administrative Agent within such time period whether or not it agrees to increase its Commitment and, if so, whether by an amount equal to, greater than, or less than its Applicable Percentage of such requested increase.  Any Lender not responding within such time period shall be deemed to have declined to increase its Commitment.
(c)Notification by Administrative Agent; Additional Lenders.  The Administrative Agent shall notify the Borrower and each Lender of the Lenders’ responses to each request made hereunder.  To achieve the full amount of a requested increase and subject to the approval of the Administrative Agent, the L/C Issuers and the Swing Line Lender (which approvals shall not be unreasonably withheld), the Borrower may also invite additional Eligible Assignees to become Lenders pursuant to a joinder agreement in form and substance satisfactory to the Administrative Agent and its counsel.
(d)Effective Date and Allocations.  If the Aggregate Commitments are increased in accordance with this Section, the Administrative Agent and the Borrower shall determine the effective date (the “Increase Effective Date”) and the final allocation of such increase.  The Administrative Agent shall promptly notify the Borrower and the Lenders of the final allocation of such increase and the Increase Effective Date.
(e)Conditions to Effectiveness of Increase.  As a condition precedent to such increase, the Borrower shall deliver to the Administrative Agent a certificate of the Borrower dated as of the Increase Effective Date (in sufficient copies for each Lender) signed by a 
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Responsible Officer of the Borrower (x) certifying and attaching the resolutions adopted by the Borrower approving or consenting to such increase, and (y) in the case of the Borrower, certifying that, before and after giving effect to such increase, (A) the representations and warranties contained in Article V and the other Loan Documents are true and correct on and as of the Increase Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that for purposes of this Section 2.14, the representations and warranties contained in clauses (a) and (b) of Section 5.05 and Section 5.06(b) shall be deemed to refer to the most recent statements or SEC filings furnished pursuant to clauses (a) and (b), respectively, of Section 6.01, and (B) no Default exists, (C) the Borrower shall have executed and delivered a supplement to the Indenture which includes the aggregate amount of such increase in the Aggregate Commitments as a new or amended and restated Secured Obligation, (D) the Borrower shall have executed and delivered a secured promissory note, in form and substance similar to the Secured Note, providing for the repayment of an amount equal to the aggregate amount of such increase in the Aggregate Commitments, and (E) the Borrower shall have delivered a copy of the resolution of its Board of Directors authorizing and approving the execution, delivery and performance of such supplement and secured promissory note.  The Borrower shall prepay any Committed Loans outstanding on the Increase Effective Date (and pay any additional amounts required pursuant to Section 3.05) to the extent necessary to keep the outstanding Committed Loans ratable with any revised Applicable Percentages arising from any nonratable increase in the Commitments under this Section.  The Borrower and the Lenders shall cooperate to enable simultaneous prepayment of Committed Loans pursuant to the preceding sentence and borrowing of new Committed Loans under the increase in the Aggregate Commitments.
(f)Conflicting Provisions.  This Section shall supersede any provisions in Section 2.13 or 10.01 to the contrary.
2.15Cash Collateral.
(a)Certain Credit Support Events.  Upon the request of the Administrative Agent or the applicable L/C Issuer (i) if such L/C Issuer has honored any full or partial drawing request under any Letter of Credit, such drawing has not resulted in a Committed Borrowing pursuant to Section 2.03(c) because the conditions set forth in Section 4.02 cannot be satisfied or for any other reason and such drawing has resulted in an L/C Borrowing, or (ii) if, as of the Letter of Credit Expiration Date, any L/C Obligation for any reason remains outstanding, the Borrower shall, in each case, immediately Cash Collateralize the then Outstanding Amount of all L/C Obligations.  At any time that there shall exist a Defaulting Lender, within five Business Days after the request of the Administrative Agent, the applicable L/C Issuer or the Swing Line Lender, the Borrower shall deliver Cash Collateral to the Administrative Agent in an amount sufficient to cover all Fronting Exposure (after giving effect to Section 2.16(a)(iv) and any Cash Collateral provided by the Defaulting Lender).
(b)Grant of Security Interest.  All Cash Collateral (other than credit support not constituting funds subject to deposit) shall be maintained in blocked, non-interest bearing deposit accounts at the Administrative Agent.  The Borrower, and to the extent provided by any Lender, such Lender, hereby grants to (and subjects to the control of) the Administrative Agent, for the benefit of the Administrative Agent, the L/C Issuers and the Lenders (including the Swing Line Lender), and agrees to maintain, a first priority security interest in all such cash, deposit accounts and all balances therein, and all other property so provided as collateral pursuant hereto, and in all proceeds of the foregoing, all as security for the obligations to which such Cash Collateral may be applied pursuant to Section 2.15(c).  If at any time the Administrative Agent determines that Cash Collateral is subject to any right or claim of any Person other than the Administrative Agent as herein provided, or that the total amount of such Cash Collateral is less than the 
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applicable Fronting Exposure and other obligations secured thereby, the Borrower or the relevant Defaulting Lender will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency.
(c)Application.  Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided under any of this Section 2.15 or Sections 2.03, 2.04, 2.05, 2.16 or 8.02 in respect of Letters of Credit or Swing Line Loans shall be held and applied to the satisfaction of the specific L/C Obligations, Swing Line Loans, obligations to fund participations therein (including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation) and other obligations for which the Cash Collateral was so provided, prior to any other application of such property as may be provided for herein.
(d)Release.  Cash Collateral (or the appropriate portion thereof) provided to reduce Fronting Exposure or other obligations shall be released promptly following (i) the elimination of the applicable Fronting Exposure or other obligations giving rise thereto (including by the termination of Defaulting Lender status of the applicable Lender (or, as appropriate, its assignee following compliance with Section 10.06(b)(vi))) or (ii) the Administrative Agent’s good faith determination that there exists excess Cash Collateral; provided that (x) Cash Collateral furnished by or on behalf of the Borrower shall not be released during the continuance of a Default (and following application as provided in this Section 2.15 may be otherwise applied in accordance with Section 8.03), and (y) the Person providing Cash Collateral and the applicable L/C Issuer or the Swing Line Lender, as applicable, may agree that Cash Collateral shall not be released but instead held to support future anticipated Fronting Exposure or other obligations.
2.16Defaulting Lenders.
(a)Defaulting Lender Adjustments.  Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then, in addition to the other provisions of this Agreement relating to Defaulting Lenders, the following provisions shall apply for so long as such Lender is a Defaulting Lender:
(i)Waivers and Amendments.  Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in the definition of Required Lenders and in Section 10.01.
(ii)Reallocation of Payments.  Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise, and including any amounts made available to the Administrative Agent by such Defaulting Lender pursuant to Section 10.08), shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to any L/C Issuer or the Swing Line Lender hereunder; third, if so determined by the Administrative Agent or requested by the applicable L/C Issuer or the Swing Line Lender, to be held as Cash Collateral for such L/C Issuer’s Fronting Exposure with respect to such Defaulting Lender; fourth, as the Borrower may request (so long as no Default exists), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; fifth, if so determined by the Administrative Agent and the Borrower, to be held in a non-interest bearing deposit account and released in order to (x) satisfy such Defaulting Lender’s potential future funding obligations with respect to Loans under this Agreement and (y) Cash Collateralize the L/C Issuers’ future Fronting 
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Exposure with respect to such Defaulting Lender with respect to future Letters of Credit issued under this Agreement; sixth, to the payment of any amounts owing to the Lenders, the L/C Issuers or Swing Line Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender, an L/C Issuer or the Swing Line Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default exists, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Loans or L/C Borrowings in respect of which such Defaulting Lender has not fully funded its appropriate share and (y) such Loans or L/C Borrowings were made or the related Letters of Credit were issued at a time when the conditions set forth in Section 4.02 were satisfied or waived, such payment shall be applied solely to pay the Loans of, and L/C Borrowings owed to, all Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C Borrowings owed to, such Defaulting Lender.  Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.16(a)(ii) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto.
(iii)Certain Fees.
(A)Such Defaulting Lender (x) shall not be entitled to receive any Commitment Fee pursuant to Section 2.09(a) for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been required to have been paid to such Defaulting Lender) and (y) shall be limited in its right to receive Letter of Credit Fees as provided in Section 2.03(h).
(B)With respect to any Commitment Fee or Letter of Credit Fee not required to be paid to any Defaulting Lender pursuant to clause (A) above, the Borrower shall (x) pay to each Non-Defaulting Lender that portion of any such fee otherwise payable to such Defaulting Lender with respect to such Defaulting Lender’s participation in L/C Obligations or Swing Line Loans that has been reallocated to such Non-Defaulting Lender pursuant to clause (iv) below, (y) pay to the applicable L/C Issuer and the Swing Line Lender, as applicable, the amount of any such fee otherwise payable to such Defaulting Lender to the extent allocable to such L/C Issuer’s or the Swing Line Lender’s Fronting Exposure to such Defaulting Lender, and (z) not be required to pay the remaining amount of any such fee.
(iv)Reallocation of Applicable Percentages to Reduce Fronting Exposure.  All or any part of such Defaulting Lender’s participation in Letters of Credit and Swing Line Loans shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Applicable Percentages (calculated without regard to such Defaulting Lender’s Commitment) but only to the extent that (A) no Default exists and (B) such reallocation does not cause the Outstanding Amount of any Non-Defaulting Lender’s Loans plus such Non-Defaulting Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Non-Defaulting Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans to exceed such Non-Defaulting Lender’s Commitment.  During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each Non-Defaulting Lender to acquire, 
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refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04, the “Applicable Percentage” of each Non-Defaulting Lender shall be computed without giving effect to the Commitment of that Defaulting Lender.  Subject to Section 10.20, no reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased exposure following such reallocation.
(v)Cash Collateral, Repayment of Swing Line Loans.  If the reallocation described in clause (iv) above cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under Law, (x) first, prepay Swing Line Loans in an amount equal to the Swing Line Lender’s Fronting Exposure and (y) second, Cash Collateralize the L/C Issuers’ Fronting Exposure.
(b)Defaulting Lender Cure.  If the Borrower, the Administrative Agent, Swing Line Lender and each L/C Issuer agree in writing in their sole discretion that a Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any Cash Collateral), that Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Committed Loans and funded and unfunded participations in Letters of Credit and Swing Line Loans to be held on a pro rata basis by the Lenders in accordance with their Applicable Percentages (without giving effect to Section 2.16(a)(iv)), whereupon that Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and provided further that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.
(c)New Swing Line Loans/Letters of Credit.  So long as any Lender is a Defaulting Lender, (i) the Swing Line Lender shall not be required to fund any Swing Line Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swing Line Loan and (ii) no L/C Issuer shall be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto.
2.17Extension of Maturity Date.
(a)Request for an Extension.  The Borrower may, by written notice to the Administrative Agent (who shall promptly, but in any event within three Business Days after receipt thereof, deliver a copy of such written notice to each of the Lenders) not earlier than 60 days and not later than 45 days prior to any anniversary of the Closing Date following the first anniversary of the Closing Date, request that, effective as of such anniversary of the Closing Date (the “Extension Date”), each Lender agree to an extension of the Maturity Date then in effect hereunder (the “Existing Maturity Date”) for an additional 364 days from the Existing Maturity Date (the “New Maturity Date”); provided that the Borrower may not extend the Maturity Date pursuant to this Section 2.17 more than two times.
(b)Lender Elections to Extend.  Each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not earlier than 30 days prior to the Extension Date and not later than the date (the “Notice Date”) that is 15 days prior to the Extension Date, advise the Administrative Agent whether or not such Lender agrees to such extension (and each Lender that determines not to so extend the Maturity Date (a “Non-
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Extending Lender”) shall notify the Administrative Agent of such fact promptly after such determination, and any Lender that does not so advise the Administrative Agent on or before the Notice Date shall be deemed to be a Non-Extending Lender).  The election of any Lender to agree to such extension shall not obligate any other Lender to so agree.
(c)Notification by Administrative Agent.  The Administrative Agent shall notify the Borrower of each Lender’s determination under this Section no later than the day that is ten days prior to the Extension Date (or, if such date is not a Business Day, on the next Business Day).
(d)Payment to Non-Extending Lender; Additional Commitment Lenders.  The Commitment of each Non-Extending Lender will automatically terminate on the Existing Maturity Date, and the Borrower shall pay all Committed Loans and other Obligations owing to such Non-Extending Lender on the Existing Maturity Date to the extent not paid by an Additional Commitment Lender pursuant to an Assignment and Assumption as hereinafter set forth.  The Borrower shall have the right on or before the Extension Date to replace each Non-Extending Lender with, and add as “Lenders” under this Agreement in place thereof, one or more Eligible Assignees (each, an “Additional Commitment Lender”) as provided in this Section 2.17; provided that each of such Additional Commitment Lenders shall enter into an Assignment and Assumption pursuant to which such Additional Commitment Lender shall, effective as of the Extension Date, undertake a Commitment (and, if any such Additional Commitment Lender is already a Lender, its Commitment shall be in addition to such Lender’s Commitment hereunder on such date).
(e)Minimum Extension Requirement.  If (and only if) (i) the total of the Commitments of the Lenders that have agreed so to extend their Maturity Date (each, an “Extending Lender”) and the additional Commitments of the Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Commitments previously in effect and (ii) the aggregate Commitments shall be at least equal to the Outstanding Amount of Committed Loans, Swing Line Loans and L/C Obligations on and after the Existing Maturity Date, then, effective as of the Extension Date, the Maturity Date shall be extended to the New Maturity Date (except that, if such date is not a Business Day, such Maturity Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement.
(f)Conditions to Effectiveness of Increase.  As a condition precedent to such extension, the Borrower shall deliver to the Administrative Agent, in form and substance reasonably satisfactory to the Administrative Agent, (i) resolutions of the Borrower authorizing such extension and all Governmental Approvals (if any) required in connection with such extension, certified as being in effect as of the Extension Date and the related incumbency certificate of the Borrower, (ii) a favorable opinion of counsel for the Borrower as to such matters as any Lender through the Administrative Agent may reasonably request and (iii) a certificate of the Borrower dated as of the Extension Date (in sufficient copies for each Extending Lender and each Additional Commitment Lender) signed by a Responsible Officer of the Borrower certifying that on and as of such Extension Date, and immediately after giving effect to the extension to be effective on such date, all conditions precedent to a Credit Extension under Sections 4.02(a) and 4.02(b) are satisfied.  In addition, on the Extension Date, the Borrower shall prepay any Committed Loans outstanding on such date (and pay any additional amounts required pursuant to Section 3.05) to the extent necessary to keep outstanding Committed Loans ratable with any revised Applicable Percentages of the respective Lenders effective as of such date.
(g)Conflicting Provisions.  This Section shall supersede any provisions in Section 2.13 or 10.01 to the contrary.
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2.18CoBank Equities.
(a)Each party hereto acknowledges that CoBank’s Bylaws and Capital Plan (as each may be amended from time to time) shall govern (i) the rights and obligations of the parties with respect to the CoBank Equities and any patronage refunds or other distributions made on account thereof or on account of the Borrower’s patronage with CoBank, (ii) the Borrower’s eligibility for patronage distributions from CoBank (in the form of CoBank Equities and cash) and (iii) patronage distributions, if any, in the event of a sale of a participation interest.  CoBank reserves the right to assign or sell participations in all or any part of its (or its affiliate’s) Commitments or outstanding Loans hereunder on a non-patronage basis.
(b)Notwithstanding anything herein or in any other Loan Document, each party hereto acknowledges that: (i) CoBank has a statutory first Lien pursuant to the Farm Credit Act of 1971 (as amended from time to time) on all CoBank Equities that the Borrower may now own or hereafter acquire, which statutory Lien shall be for CoBank’s (or its affiliate’s) sole and exclusive benefit; (ii) during the existence of any Event of Default, CoBank may at its sole discretion, but shall not be required to, foreclose on its statutory first Lien on the CoBank Equities and/or set off the value thereof or of any cash patronage against the Obligations; (iii) during the existence of any Event of Default, CoBank may at its sole discretion, but shall not be required to, without notice except as required by applicable Law, retire and cancel all or part of the CoBank Equities owned by or allocated to the Borrower in accordance with the Farm Credit Act of 1971 (as amended from time to time) and any regulations promulgated pursuant thereto in total or partial liquidation of the  Obligations for such value as may be required pursuant applicable Law and CoBank’s Bylaws and Capital Plan (as each may be amended from time to time); (iv) the CoBank Equities shall not constitute security for the Obligations due to the Administrative Agent, any other Lender or any other Secured Party; (v) to the extent that any of the Loan Documents create a Lien on the CoBank Equities, such Lien shall be for CoBank’s (or its affiliate’s) sole and exclusive benefit and shall not be subject to pro rata sharing hereunder; (vi) any setoff effectuated pursuant to the preceding clauses (ii) or (iii) may be undertaken whether or not the Obligations are currently due and payable; and (vii) CoBank shall have no obligation to retire the CoBank Equities upon any Event of Default, Default or any other default by Borrower, or at any other time, either for application to the Obligations or otherwise. Borrower acknowledges that any corresponding tax liability associated with CoBank’s application of the value of the CoBank Equities to any portion of the Obligations is the sole responsibility of Borrower. 
2.19ESG Amendment. After the Closing Date, the Borrower, in consultation with the Sustainability Coordinator, shall be entitled to either (a) establish specified key performance indicators (“Key Performance Indicators”) with respect to certain environmental, social and governance (“ESG”) targets of the Borrower or (b) established external ESG ratings (“ESG Rating”) targets to be mutually agreed between the Borrower and the Sustainability Coordinator. The Sustainability Coordinator and the Borrower may amend this Agreement (such amendment the “ESG Amendment”) solely for the purpose of incorporating the Key Performance Indicators or ESG Ratings and other related provisions (the “ESG Pricing Provisions”) into this Agreement, and any such amendment shall become effective upon the consent of the Required Lenders, the Borrower and the Sustainability Coordinator. Upon effectiveness of any such ESG Amendment, based on the Borrower’s performance against the Key Performance Indicators or its obtainments of the target ESG Rating, certain adjustments to the Applicable Rate for the Commitment Fee, Letter of Credit Fee, Base Rate Loans and SOFR Loans may be made; provided that the amount of any such adjustments made pursuant to an ESG Amendment shall not result in an increase or decrease of more than (a) 1.00 basis point in the Applicable Rate for the Commitment Fee and/or (b) 5.00 basis points in the Applicable Rate for Base Rate Loans, Applicable Rate for SOFR Loans or Applicable Rate for the Letter of Credit Fee, in each case, determined based upon the Debt Ratings establish or deemed to have been established by the Debt Ratings on the effective 
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date of the ESG Amendment, provided that in no event shall the Applicable Rate be less than zero. If Key Performance Indicators are utilized, the pricing adjustments pursuant to the Key Performance Indicators will require, among other things, reporting and validation of the measurement of the Key Performance Indicators in a manner that is aligned with the Sustainability Linked Loan Principles (as published in March 2022 by the Loan Market Association, Asia Pacific Loan Market Association and Loan Syndications & Trading Association, as updated from time to time) or with precedent Sustainability Linked Loans in the utility syndicated loan market at the time of the ESG Amendment and as agreed upon by the Borrower and the Sustainability Coordinator (each acting reasonably). Following the effectiveness of the ESG Amendment, any modification to the ESG Pricing Provisions which does not have the effect of increasing or reducing the Applicable Rate for the Facility Fee, Letter of Credit Fee, Base Rate Loans and SOFR Loans to a level not otherwise permitted by this paragraph shall be subject only to the consent of the Required Lenders.
2.20Sustainability Coordinator. The Sustainability Coordinator will (i) assist the Borrower in determining the ESG Pricing Provisions in connection with the ESG Amendment, (ii) assist the Borrower in preparing informational materials focused on ESG to be used in connection with the ESG Amendment and (iii) take whatever other action is deemed necessary and appropriate in accordance with Section 2.19 hereof as reasonably requested by the Required Lenders in connection with the ESG Amendment.
ARTICLE III.
TAXES, YIELD PROTECTION AND ILLEGALITY
3.01Taxes.
(a)Payments Free of Taxes; Obligation to Withhold; Payments on Account of Taxes.  Any and all payments by or on account of any obligation of the Borrower under any Loan Document shall be made free and clear of and without reduction or withholding for any Taxes, except as required by applicable Laws.  If any applicable Law (as determined in the good faith discretion of an applicable Withholding Agent) requires the deduction or withholding of any Tax from any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable Laws and, if such Tax is an Indemnified Tax, then the sum payable by the Borrower shall be increased as necessary so that, after such deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under this Section 3.01), the Administrative Agent or Lender (as the case may be) receives an amount equal to the sum it would have received had no such deduction or withholding been made.
(b)Payment of Other Taxes by the Borrower.  The Borrower shall timely pay to the relevant Governmental Authority in accordance with applicable Laws, or, at the option of the Administrative Agent, timely reimburse it for the payment of, any Other Taxes.
(c)Tax Indemnifications.
(i)The Borrower shall indemnify the Administrative Agent, each Lender, and each L/C Issuer within ten days after written demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section) paid by the Administrative Agent or such Lender or such L/C Issuer, as the case may be, and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority.  A certificate as to the amount of such payment or liability delivered to the Borrower by a 
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Lender or an L/C Issuer (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender or an L/C Issuer, shall be conclusive absent manifest error.
(ii)Each Lender and each L/C Issuer shall severally indemnify the Administrative Agent, within ten days after demand therefor, for (i) any Indemnified Taxes attributable to such Lender or such L/C Issuer (but only to the extent that the Borrower has not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Borrower to do so), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 10.06(d) relating to the maintenance of a Participant Register and (iii) any Excluded Taxes attributable to such Lender or such L/C Issuer, in each case, that are payable or paid by the Administrative Agent in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority.  A certificate as to the amount of such payment or liability delivered to any Lender or any L/C Issuer by the Administrative Agent shall be conclusive absent manifest error.  Each Lender and each L/C Issuer hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender or such L/C Issuer under any Loan Document or otherwise payable by the Administrative Agent to the Lender or the L/C Issuer from any other source against any amount due to the Administrative Agent under this Section 3.01(c).
(d)Evidence of Payments.  Upon request by the Borrower or the Administrative Agent, as the case may be, after any payment of Taxes by the Borrower or by the Administrative Agent to a Governmental Authority as provided in this Section 3.01, the Borrower shall deliver to the Administrative Agent or the Administrative Agent shall deliver to the Borrower, as the case may be, the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of any return required by Laws to report such payment or other evidence of such payment reasonably satisfactory to the Borrower or the Administrative Agent, as the case may be.
(e)Status of Lenders; Tax Documentation.
(i)Any Lender that is entitled to an exemption from or reduction of withholding Tax under the Law of the jurisdiction in which the Borrower is resident for Tax purposes, or any treaty to which such jurisdiction is a party, with respect to payments under any Loan Document shall deliver to the Borrower (with a copy to the Administrative Agent), at the time or times prescribed by applicable Law or reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation prescribed by applicable Law as will permit such payments to be made without withholding or at a reduced rate of withholding.  In addition, any Lender, if requested by the Borrower or the Administrative Agent, shall deliver such other documentation prescribed by applicable Law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements.
(ii)Without limiting the generality of the foregoing:
(A)any Lender that is not a Foreign Lender shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), 
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executed copies of IRS Form W-9 certifying that such Lender is exempt from U.S. federal backup withholding Tax; and
(B)any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), whichever of the following is applicable:
(I)in the case of a Foreign Lender claiming the benefits of an income Tax treaty to which the United States is a party (I) with respect to payments of interest under any Loan Document, executed copies of IRS Form W-8BEN or W-8BEN-E establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of such Tax treaty and (II) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or W-8BEN-E establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business profits” or “other income” article of such Tax treaty;
(II)executed copies of IRS Form W-8ECI;
(III)in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (I) a U.S. Tax compliance certificate in form and substance satisfactory to the Administrative Agent to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code and (II) executed copies of IRS Form W-8BEN; or
(IV)to the extent a Foreign Lender is not the beneficial owner, executed copies of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN or W-8BEN-E, a U.S. Tax compliance certificate in form and substance satisfactory to the Administrative Agent, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that, if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax compliance certificate in form and substance acceptable to the Administrative Agent on behalf of each such direct and indirect partner;
(C)any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed copies of any other form prescribed by applicable Laws as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary documentation as may be 
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prescribed by applicable Laws to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to be made; and
(D)if a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent at the time or times prescribed by Law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by applicable Laws (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment.  Solely for purposes of this clause (D), “FATCA” shall include any amendments made to FATCA after the date of this Agreement.
Each Lender agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so.
(f)Treatment of Certain Refunds.  If any party determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified pursuant to this Section 3.01 (including by the payment of additional amounts pursuant to this Section 3.01), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this Section 3.01 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund).  Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this clause (f) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority.  Notwithstanding anything to the contrary in this clause (f), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this clause (f) the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid.  This clause (f) shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person.
(g)Survival.  Each party’s obligations under this Section 3.01 shall survive the resignation or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all obligations under any Loan Document.
3.02Illegality.  If any Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund Loans whose interest is determined by reference to SOFR, the Term SOFR Reference Rate, Adjusted Term SOFR or Term SOFR, or to determine or charge interest rates based upon SOFR, the Term SOFR Reference Rate, Adjusted Term SOFR 
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or Term SOFR, then, on notice thereof by such Lender to the Borrower (through the Administrative Agent) (an “Illegality Notice”), (i) any obligation of the Lenders to make SOFR Loans, and any right of the Borrower to continue SOFR Loans or to convert Base Rate Committed Loans to SOFR Loans shall be suspended, and (ii) the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to clause (c) of the definition of “Alternate Base Rate”, in each case until each affected Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination no longer exist.  Upon receipt of an Illegality Notice, the Borrower shall, if necessary to avoid such illegality, upon demand from any Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all SOFR Loans to Base Rate Loans (the interest rate on which Base Rate Loans shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to clause (c) of the definition of “Adjusted Base Rate”), on the last day of the Interest Period therefor, if all affected Lenders may lawfully continue to maintain such SOFR Loans to such day, or immediately, if any Lender may not lawfully continue to maintain such SOFR Rate Loans to such day, in each case until the Administrative Agent is advised in writing by each affected Lender that it is no longer illegal for such Lender to determine or charge interest rates based upon SOFR, the Term SOFR Reference Rate, Adjusted Term SOFR or Term SOFR.  Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted.
3.03Inability to Determine Rates.  Subject to Section 3.07, if, on or prior to the first day of any Interest Period for any SOFR Loan:
(a)the Administrative Agent determines (which determination shall be conclusive and binding absent manifest error) that “Adjusted Term SOFR” cannot be determined pursuant to the definition thereof, or
(b)the Required Lenders determine that for any reason in connection with any request for a SOFR Loan or a conversion thereto or a continuation thereof that Adjusted Term SOFR for any requested Interest Period with respect to a proposed SOFR Loan does not adequately and fairly reflect the cost to such Lenders of making and maintaining such Loan, and the Required Lenders have provided notice of such determination to the Administrative Agent,
the Administrative Agent will promptly so notify the Borrower and each Lender.  
Upon notice thereof by the Administrative Agent to the Borrower, any obligation of the Lenders to make SOFR Loans, and any right of the Borrower to continue SOFR Loans or to convert Base Rate Loans to SOFR Loans, shall be suspended (to the extent of the affected SOFR Loans or affected Interest Periods) until the Administrative Agent (with respect to clause (b), at the instruction of the Required Lenders) revokes such notice.  Upon receipt of such notice, (i) the Borrower may revoke any pending request for a borrowing of, conversion to or continuation of SOFR Loans (to the extent of the affected SOFR Loans or affected Interest Periods) or, failing that, the Borrower will be deemed to have converted any such request into a request for a Borrowing of or conversion to Base Rate Loans in the amount specified therein and (ii) any outstanding affected SOFR Loans will be deemed to have been converted into Base Rate Loans at the end of the applicable Interest Period.  Upon any such conversion, the Borrower shall also pay accrued interest on the amount so converted, together with any additional amounts required pursuant to Section 3.05. Subject to Section 3.07, if the Administrative Agent determines (which determination shall be conclusive and binding absent manifest error) that “Adjusted Term SOFR” cannot be determined pursuant to the definition thereof on any given day, the interest rate on Base Rate Loans shall be determined by the Administrative Agent without reference to clause (c) of the definition of “Base Rate” until the Administrative Agent revokes such determination.
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3.04Increased Costs.
(a)Increased Costs Generally.  If any Change in Law shall:
(i)impose, modify or deem applicable any reserve (including pursuant to regulations issued from time to time by the Federal Reserve Board for determining the maximum reserve requirement (including any emergency, special, supplemental or other marginal reserve requirement) with respect to eurocurrency funding (currently referred to as “Eurocurrency liabilities” in Regulation D)), special deposit, compulsory loan, insurance charge or similar requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender;
(ii)subject any Lender or any L/C Issuer to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; or
(iii)impose on any Lender or an L/C Issuer any other condition, cost or expense (other than Taxes) affecting this Agreement or Loans made by such Lender;
and the result of any of the foregoing shall be to increase the cost to such Lender or such L/C Issuer of making, converting to, continuing or maintaining any Loan or of maintaining its obligation to make any such Loan, or to increase the cost to such Lender or such L/C Issuer of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender or such L/C Issuer hereunder (whether of principal, interest or any other amount) then, upon request of such Lender or such L/C Issuer, the Borrower will pay to such Lender or such L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or such L/C Issuer, as the case may be, for such additional costs incurred or reduction suffered.
(b)Capital Requirements.  If any Lender or any L/C Issuer determines that any Change in Law affecting such Lender or such L/C Issuer or any Lending Office of such Lender or such Lender’s or such L/C Issuer’s holding company, if any, regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s or such L/C Issuer’s capital or on the capital of such Lender’s or such L/C Issuer’s holding company, if any, as a consequence of this Agreement, the Commitments of such Lender or the Loans made by, or participations in Letters of Credit or Swing Line Loans held by, such Lender, or the Letters of Credit issued by such L/C Issuer, to a level below that which such Lender or such L/C Issuer or such Lender’s or such L/C Issuer’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or such L/C Issuer’s policies and the policies of such Lender’s or such L/C Issuer’s holding company with respect to capital adequacy or liquidity), then from time to time the Borrower will pay to such Lender or such L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or such L/C Issuer or such Lender’s or such L/C Issuer’s holding company for any such reduction suffered.
(c)Certificates for Reimbursement.  A certificate of a Lender or an L/C Issuer setting forth the amount or amounts necessary to compensate such Lender or such L/C Issuer or its holding company, as the case may be, as specified in clause (a) or (b) of this Section and delivered to the Borrower shall be conclusive absent manifest error.  The Borrower shall pay such Lender or such L/C Issuer, as the case may be, the amount shown as due on any such certificate within ten days after receipt thereof.
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(d)Delay in Requests.  Failure or delay on the part of any Lender or an L/C Issuer to demand compensation pursuant to the foregoing provisions of this Section shall not constitute a waiver of such Lender’s or such L/C Issuer’s right to demand such compensation; provided that the Borrower shall not be required to compensate a Lender or an L/C Issuer pursuant to the foregoing provisions of this Section for any increased costs incurred or reductions suffered more than nine months prior to the date that such Lender or such L/C Issuer, as the case may be, notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s or such L/C Issuer’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the nine-month period referred to above shall be extended to include the period of retroactive effect thereof).
3.05Compensation for Losses.  Upon demand of any Lender (with a copy to the Administrative Agent) from time to time, the Borrower shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of:
(a)any continuation, conversion, payment or prepayment of any Loan other than a Base Rate Loan on a day other than the last day of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise);
(b)any failure by the Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or convert any Loan other than a Base Rate Loan on the date or in the amount notified by the Borrower; or
(c)any assignment of a SOFR Loan on a day other than the last day of the Interest Period therefor as a result of a request by the Borrower pursuant to Section 10.13.
In the case of a SOFR Loan, such loss, cost or expense to any Lender shall be deemed to include any loss, cost, expense and Interest Differential attributable to such event.  The term “Interest Differential” means the greater of zero and the financial loss incurred by the Lender as a result of such event, calculated as the difference between the amount of interest such Lender would have earned had such event not occurred (based on like investments as of the first day of the applicable Interest Period) and the interest such Lender will actually earn (based on like investments as of the date of prepayment) as a result of the redeployment of funds from such event.  Because of the short-term duration of any Interest Period, the Borrower agrees that the Interest Differential shall not be discounted to its present value.
A certificate of any Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to this Section shall be delivered to the Borrower and shall be conclusive absent manifest error.  The Borrower shall also pay any customary administrative fees charged by such Lender in connection with the foregoing.
3.06 Mitigation Obligations; Replacement of Lenders.
(a)Designation of a Different Lending Office.  If any Lender requests compensation under Section 3.04, or the Borrower is required to pay any additional amount to any Lender, any L/C Issuer, or any Governmental Authority for the account of any Lender or any L/C Issuer pursuant to Section 3.01, or if any Lender gives a notice pursuant to Section 3.02, then such Lender or such L/C Issuer (at the request of the Borrower) shall use reasonable efforts to designate a different Lending Office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or Affiliates, if, in the judgment of such Lender or such L/C Issuer, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 3.01 or 3.04, as the case may be, in the future, or eliminate the need for the notice pursuant to Section 3.02, as applicable, and (ii) in each case, 
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would not subject such Lender or such L/C Issuer, as the case may be, to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender or such L/C Issuer, as the case may be.  The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender or any L/C Issuer in connection with any such designation or assignment.
(b)Replacement of Lenders.  If any Lender requests compensation under Section 3.04, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01 and, in each case, such Lender has declined or is unable to designate a different Lending Office in accordance with Section 3.06(a), the Borrower may replace such Lender in accordance with Section 10.13.
3.07Benchmark Replacement Setting.  
(a)Benchmark Replacement.  Notwithstanding anything to the contrary herein or in any other Loan Document, if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred prior any setting of the then-current Benchmark, then (x) if a Benchmark Replacement is determined in accordance with clause (a) of the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of such Benchmark setting and subsequent Benchmark settings without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document and (y) if a Benchmark Replacement is determined in accordance with clause (b) of the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of any Benchmark setting at or after 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the Lenders without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document so long as the Administrative Agent has not received, by such time, written notice of objection to such Benchmark Replacement from Lenders comprising the Required Lenders.  If the Benchmark Replacement is Daily Simple SOFR, all interest payments will be payable on a monthly basis.
(b)Benchmark Replacement Conforming Changes.  In connection with the use, administration, adoption or implementation of a Benchmark Replacement, the Administrative Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document.
(c)Notices; Standards for Decisions and Determinations.  The Administrative Agent will notify the Borrower and the Lenders of (i) any occurrence of a Benchmark Transition Event, (ii) the implementation of any Benchmark Replacement and (iii) the effectiveness of any Conforming Changes in connection with the use, administration, adoption or implementation of a Benchmark Replacement.  The Administrative Agent will notify the Borrower of (x) the removal or reinstatement of any tenor of a Benchmark pursuant to Section 3.07(d) and (y) the commencement or conclusion of any Benchmark Unavailability Period.  Any determination, decision or election that may be made by the Administrative Agent or, if applicable, any Lender (or group of Lenders) pursuant to this Section 3.07, including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent from any other party to this Agreement or any other Loan Document, except, in each case, as expressly required pursuant to this Section 3.07.
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(d)Unavailability of Tenor of Benchmark.  Notwithstanding anything to the contrary herein or in any other Loan Document, at any time (including in connection with the implementation of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including the Term SOFR Reference Rate) and either (A) any tenor for such Benchmark is not displayed on a screen or other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion or (B) the regulatory supervisor for the administrator of such Benchmark has provided a public statement or publication of information announcing that any tenor for such Benchmark is not or will not be representative, then the Administrative Agent may modify the definition of “Interest Period” (or any similar or analogous definition) for any Benchmark settings at or after such time to remove such unavailable or non-representative tenor and (ii) if a tenor that was removed pursuant to clause (i) above either (A) is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (B) is not, or is no longer, subject to an announcement that it is not or will not be representative for a Benchmark (including a Benchmark Replacement), then the Administrative Agent may modify, in consultation with the Borrower, the definition of “Interest Period” (or any similar or analogous definition) for all Benchmark settings at or after such time to reinstate such previously removed tenor.
(e)Benchmark Unavailability Period.  Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a SOFR Borrowing of, conversion to or continuation of SOFR Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Borrowing of or conversion to Base Rate Loans.  During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of Alternate Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of Alternate Base Rate.
3.08Survival.  All of the Borrower’s obligations under this Article III shall survive termination of the Aggregate Commitments, repayment of all other Obligations hereunder, and resignation of the Administrative Agent.
ARTICLE IV.
CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
4.01Conditions of Initial Credit Extension.  The obligation of each L/C Issuer and each Lender to make its initial Credit Extension hereunder is subject to satisfaction of the following conditions precedent:
(a)The Administrative Agent’s receipt of the following, each of which shall be originals or copies (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of the Borrower as applicable, each dated the Closing Date (or, in the case of certificates of governmental officials, a recent date before the Closing Date), as applicable, and, except with respect to clause (x) below, each in form and substance satisfactory to the Administrative Agent and each of the Lenders:
(i)executed counterparts of this Agreement, sufficient in number for distribution to the Administrative Agent, each Lender and the Borrower;
(ii)a Note executed by the Borrower in favor of each Lender requesting a Note;
(iii)executed counterparts of Supplement 44 to the Indenture;
(iv)executed counterparts of the Secured Note;
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(v)such financial information regarding the Borrower and its Subsidiaries, if any, as the Administrative Agent and the Lenders may reasonably request;
(vi)evidence of the Borrower’s maintenance of insurance satisfying the requirements of Section 6.07;
(vii)(a) a copy of the form(s) of the Wholesale Power Contracts, including all modifications and amendments (except, unless expressly requested by the Administrative Agent, schedules to the Wholesale Power Contracts related to points of delivery for members, contracts with members, resale at wholesale of electricity by members, or an excerpt of a provision from Borrower’s contracts with the United States of America entitled “Resale of Electric Service”) or (b) a certificate of a Responsible Officer stating that no changes have occurred in the form of Wholesale Power Contracts since the date of the Existing Credit Agreement;
(viii)a copy of the Indenture and all supplements and amendments (except, unless expressly requested by the Administrative Agent, (A) supplements providing solely for additional secured obligations and/or additional collateral descriptions and (B) exhibits relating to real property and real property recording information);
(ix)all documents required to be delivered to the Trustee in order for the Secured Note to be authenticated as an amended and restated Secured Obligation (as defined in the Indenture) under the Indenture;
(x)the written investment policy approved by the Board of Directors of the Borrower;
(xi)such certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers of the Borrower as the Administrative Agent may require evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this Agreement and the other Loan Documents or Collateral Documents;
(xii)such documents and certifications as the Administrative Agent may reasonably require to evidence that the Borrower is duly organized or formed, and that the Borrower is validly existing, in good standing and qualified to engage in business in Arizona, Colorado, Nebraska, New Mexico and Wyoming and any other jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect;
(xiii)favorable opinions of (A) Dorsey & Whitney LLP, counsel to the Borrower and (B) Kenneth V. Reif, Senior Vice President and General Counsel of the Borrower, each addressed to the Administrative Agent and each Lender as to such matters concerning the Borrower and the Loan Documents and Collateral Documents as the Required Lenders may reasonably request;
(xiv)a certificate signed by a Responsible Officer of the Borrower certifying (A) that there has been no event or circumstance since the date of the Audited Financial Statements that has had or could be reasonably expected to have, either individually or in the aggregate, a Material Adverse Effect; (B) that on and as of the Closing Date the Borrower and its Subsidiaries, on a consolidated basis after giving effect to this Agreement, are Solvent; (C) the current Debt Ratings; (D) that, except as disclosed in Schedule 5.06 or the Borrower’s Annual Report on Form 10-K for the Fiscal Year ended 
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December 31, 2021, there are no actions, suits or proceedings by or before any arbitrator or Governmental Authority now pending against or, to the knowledge of the Borrower, threatened against or affecting the Borrower (x) as to which there is a reasonable possibility of an adverse determination and that, if adversely determined, could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect or (y) that question the validity or enforceability of this Agreement or any of the other Loan Documents; (E) that as of the Closing Date, the Borrower shall have received all consents, approvals or authorizations, or waivers thereof, of any Governmental Authority or any third Person required for the Borrower to execute and deliver this Agreement and the other Loan Documents and Collateral Documents; and (F) that on the Closing Date, after giving effect to the Borrower’s execution and delivery of this Agreement and the other Loan Documents and Collateral Documents, (i) no Default has occurred and is continuing and (ii) the Borrower shall be in material compliance with the Indenture and each other contract listed in Part A of Schedule 5.20 to which the Borrower is a party;
(xv)a duly completed Compliance Certificate, signed by a Responsible Officer of the Borrower;
(xvi)upon the reasonable request of any Lender or any L/C Issuer made at least ten Business Days prior to the Closing Date, the Borrower shall have provided to such Lender or L/C Issuer (a) the documentation and other information so requested in connection with applicable “know your customer” and anti-money-laundering rules and regulations, including the PATRIOT Act, in each case at least five days prior to the Closing Date, and (b) a Beneficial Ownership Certification in relation to the Borrower and each Subsidiary that qualifies as a “legal entity customer” under the Beneficial Ownership Certification;
(xvii)completion of due diligence with respect to environmental matters of the Borrower and its Subsidiaries reasonably satisfactory to the Arranger and the Administrative Agent;
(xviii)completion of due diligence with respect to insurance matters of the Borrower and its Subsidiaries reasonably satisfactory to the Arranger and the Administrative Agent;
(xix)evidence that the Borrower has taken all actions (a) required under the Flood Laws in a manner reasonably satisfactory to the Administrative Agent and/or (b) reasonably requested by the Administrative Agent to assist in ensuring that each Lender is in compliance with the Flood Laws applicable to the Collateral; and
(xx)such other assurances, certificates, documents, consents or opinions as the Administrative Agent, any L/C Issuer, the Swing Line Lender or the Required Lenders reasonably may require.
(b)Any fees required to be paid on or before the Closing Date shall have been paid.
(c)Unless waived by the Administrative Agent, the Borrower shall have paid all fees, charges and disbursements of counsel to the Administrative Agent (directly to such counsel if requested by the Administrative Agent) to the extent invoiced not less than two Business Days prior to the Closing Date, plus such additional amounts of such fees, charges and disbursements as shall constitute its reasonable estimate of such fees, charges and disbursements incurred or to be incurred by it through the closing proceedings (provided that such estimate shall not thereafter preclude a final settling of accounts between the Borrower and the Administrative Agent).
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(d)The Administrative Agent has received (i) from the Borrower an Internal Revenue Service Form W-9 and (ii) from each Lender the applicable form for such Lender described in Section 3.01(e)(ii).
Without limiting the generality of the provisions of the last paragraph of Section 9.03, for purposes of determining compliance with the conditions specified in this Section 4.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its objection thereto.
4.02Conditions to all Credit Extensions.  The obligation of each Lender to honor any Request for Credit Extension (other than a Committed Loan Notice requesting only a conversion of Committed Loans to the other Type, or a continuation of SOFR Loans) is subject to the following conditions precedent:
(a)The representations and warranties of the Borrower contained in Article V (other than (x) Sections 5.05(c), 5.10, 5.16, and 5.20 and (y) if any commercial paper issued by the Borrower is outstanding, in the case of a Borrowing of Committed Loans to provide liquidity for such commercial paper, Section 5.06(b)), shall be true and correct (i) in all respects, with respect to the representations and warranties qualified by materiality or Material Adverse Effect, or (ii) in all material respects, with respect to all other representations and warranties, on and as of the date of such Credit Extension, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 4.02, the representations and warranties contained in clauses (a) and (b) of Section 5.05 and Section 5.06(b) shall be deemed to refer to the most recent statements or SEC filings furnished pursuant to clauses (a) and (b), respectively, of Section 6.01.
(b)No Default shall exist, or would result from such proposed Credit Extension or from the application of the proceeds thereof.
(c)The Administrative Agent and, if applicable, the applicable L/C Issuer or the Swing Line Lender shall have received a Request for Credit Extension in accordance with the requirements hereof.
Each Request for Credit Extension (other than a Committed Loan Notice requesting only a conversion of Committed Loans to the other Type or a continuation of SOFR Loans) submitted by the Borrower shall be deemed to be a representation and warranty that the conditions specified in Sections 4.02(a) and (b) have been satisfied on and as of the date of the applicable Credit Extension.
ARTICLE V.
REPRESENTATIONS AND WARRANTIES
The Borrower represents and warrants to the Administrative Agent and the Lenders that:
5.01Existence, Qualification and Power.  The Borrower (a) is duly organized or formed, validly existing and, as applicable, in good standing under the Laws of the jurisdiction of its incorporation or organization, (b) has all requisite power and authority and all requisite governmental licenses, authorizations, consents and approvals to (i) own or lease its assets and carry on its business and (ii) execute, deliver and perform its obligations under the Loan Documents and the Collateral Documents to which it is a party, and (c) is duly qualified and is licensed and, as applicable, in good standing under the Laws of each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such 
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qualification or license; except in each case referred to in clauses (b)(i) and (c), to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect.
5.02Authorization; No Contravention.  The execution, delivery and performance by the Borrower of each Loan Document and each Collateral Document to which such Person is party, have been duly authorized by all necessary corporate or other organizational action, and do not and will not (a) contravene the terms of any of such Person’s Organization Documents; (b) conflict with or result in any breach or contravention of, or the creation of any material Lien (except as created and imposed by the Indenture) under, or require any payment to be made under (i) any material Contractual Obligation (other than this Agreement) to which such Person is a party or affecting such Person or the material properties of such Person or any of its Subsidiaries or (ii) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Person or its property is subject; or (c) violate any Law.
5.03Governmental Authorization; Other Consents.  Except for (a) the filings described in Section 6.16, (b) the notification filing by the Borrower related to this Agreement with the Federal Energy Regulatory Commission pursuant to Section 204 of the Federal Power Act, and (c) the filing by the Borrower of a current report on Form 8-K with the SEC, no approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with the execution, delivery or performance by, or enforcement against, the Borrower of any Loan Document or Collateral Document, which has not been obtained.
5.04Binding Effect.  This Agreement has been, and each other Loan Document and Collateral Document, when delivered hereunder, will have been, duly executed and delivered by the Borrower that is party thereto.  This Agreement constitutes, and each other Loan Document and Collateral Document when so delivered will constitute, a legal, valid and binding obligation of the Borrower, enforceable against the Borrower that is party thereto in accordance with its terms, except as such enforceability may be limited by (a) bankruptcy, insolvency, reorganization, moratorium or similar Laws of general applicability affecting the enforcement of creditors’ rights and (b) the application of general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).
5.05Financial Statements; No Material Adverse Effect.
(a)The Audited Financial Statements (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; (ii) fairly present the financial condition of the Borrower and its subsidiaries as of the date thereof and their results of operations for the period covered thereby in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; and (iii) show all material indebtedness and other liabilities, direct or contingent, of the Borrower and its subsidiaries as of the date thereof, including liabilities for Taxes, material commitments and Indebtedness.
(b)The unaudited consolidated balance sheet of the Borrower and its subsidiaries dated September 30, 2021, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for the fiscal quarter ended on that date (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein, and (ii) fairly present the financial condition of the Borrower and its subsidiaries as of the date thereof and their results of operations for the period covered thereby, subject, in the case of clauses (i) and (ii), to the absence of footnotes and to normal year-end audit adjustments.  
(c)Since the date of the Audited Financial Statements, there has been no event or circumstance, either individually or in the aggregate, that has had or could reasonably be expected to result in a Material Adverse Effect. Schedule 5.20 sets forth all indebtedness and 
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other liabilities the aggregate principal or face amount of which equals or exceeds (or may equal or exceed) Threshold Amount, direct or contingent, of the Borrower and its subsidiaries as of the date of such Audited Financial Statements, including liabilities for Taxes, material commitments and Indebtedness.
5.06Litigation.  There are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of the Borrower after due and diligent investigation, threatened or contemplated, at law, in equity, in arbitration or before any Governmental Authority, by or against the Borrower or any of its Subsidiaries or against any of their properties or revenues that (a) purport to affect or pertain to any Loan Document or Collateral Document, or any of the transactions contemplated hereby, or (b) except as disclosed in Schedule 5.06 or Borrower’s Annual Report on Form 10-K for the Fiscal Year ended December 31, 2021, filed with the Securities and Exchange Commission on March 9, 2022, either individually or in the aggregate,  could reasonably be expected to have a Material Adverse Effect, and there has been no adverse change in the status of, or financial effect on the Borrower or any of its Subsidiaries, of the matters described on Schedule 5.06.
5.07No Default.  The Borrower is not in default under or with respect to the Indenture.  Neither the Borrower nor any of its Subsidiaries is in default under or with respect to any other Contractual Obligation that could, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.  No Default has occurred and is continuing or would result from the consummation of the transactions contemplated by any Loan Document.
5.08Ownership of Property; Liens.  The Borrower and each Subsidiary has good record and marketable title to real property, or valid leasehold interests in, license to or permit to all real property necessary or used in the ordinary conduct of its business, and has good title to the interests of all its other property, except for such defects as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.  The Mortgaged Property is subject to no Liens, other than Liens permitted by Section 7.01.
5.09Maintenance of Properties.  The operations of the Borrower and its Subsidiaries are in accordance with Prudent Utility Practice (or in the case of a Subsidiary auxiliary to the electric utility business, in accordance with customs and practices standard for its line of business).
5.10Environmental Compliance.  The Borrower and its Subsidiaries conduct in the ordinary course of business a review of the effect of existing Environmental Laws and claims alleging potential liability or responsibility for violation of any Environmental Law on their respective businesses, operations and properties, and as a result thereof the Borrower has reasonably concluded that, except as specifically disclosed in Schedule 5.10, such Environmental Laws and claims could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.
(a)Except as otherwise set forth in Schedule 5.10, none of the properties currently or formerly owned or operated by the Borrower or any of its Subsidiaries is listed or proposed for listing on the National Priorities List, or on the Comprehensive Environmental Reporting, Compensation and Liability Information System or any analogous foreign, state or local list or is adjacent to any such property; there are no and never have been any underground or above-ground storage tanks or any surface impoundments, septic tanks, pits, sumps or lagoons in which Hazardous Materials are being or have been treated, stored or disposed on any property currently owned or operated by the Borrower or any of its Subsidiaries or, to the best of the knowledge of the Borrower, on any property formerly owned or operated by the Borrower or any of its Subsidiaries; there is no asbestos or asbestos-containing material on any property currently owned or operated by the Borrower or any of its Subsidiaries; and Hazardous Materials have not been released, discharged or disposed of on any property currently or formerly owned or operated by the Borrower or any of its Subsidiaries, in each case except in the ordinary course of 
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business and in compliance with requirements of Law and where the result thereof could not reasonably be expected to have a Material Adverse Effect.
(b)Except as otherwise set forth on Schedule 5.10, neither the Borrower nor any of its Subsidiaries is undertaking, and has not completed, either individually or together with other potentially responsible parties, any investigation or assessment or remedial or response action relating to any actual or threatened release, discharge or disposal of Hazardous Materials at any site, location or operation, either voluntarily or pursuant to the order of any Governmental Authority or the requirements of any Environmental Law; and all Hazardous Materials generated, used, treated, handled or stored at, or transported to or from, any property currently or formerly owned or operated by the Borrower or any of its Subsidiaries have been disposed of in a manner not reasonably expected to result in material liability to the Borrower or any of its Subsidiaries.
5.11Insurance.  The properties of the Borrower and its Subsidiaries are insured with financially sound and reputable insurance companies not Affiliates of the Borrower, in such amounts (after giving effect to any self-insurance compatible with the following standards), with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning similar properties in localities where the Borrower or the applicable Subsidiary operates.
5.12Taxes.  The Borrower and its Subsidiaries have filed all Federal, state and other material Tax returns and reports required to be filed, and have paid all Federal, state and other material Taxes, assessments, fees and other governmental charges levied or imposed upon them or their properties, income or assets otherwise due and payable, except those which are being contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves have been provided in accordance with GAAP.  There is no proposed Tax assessment against the Borrower or any Subsidiary that would, if made, have a Material Adverse Effect.  Neither the Borrower nor any of its Subsidiaries is party to any Tax sharing agreement.
5.13ERISA Compliance.
(a)Each Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code and other Federal or state Laws.  Each Plan that is intended to be a qualified plan under Section 401(a) of the Code has received a favorable determination letter from the Internal Revenue Service to the effect that the form of such Plan is qualified under Section 401(a) of the Code and the trust related thereto has been determined by the Internal Revenue Service to be exempt from federal income Tax under Section 501(a) of the Code, or an application for such a letter is currently being processed by the Internal Revenue Service.  To the best knowledge of the Borrower, nothing has occurred that would prevent or cause the loss of such tax-qualified status.
(b)There are no pending or, to the best knowledge of the Borrower, threatened claims, actions or lawsuits, or action by any Governmental Authority, with respect to any Plan that could reasonably be expected to have a Material Adverse Effect.  There has been no prohibited transaction or violation of the fiduciary responsibility rules with respect to any Plan that has resulted or could reasonably be expected to result in a Material Adverse Effect.
(c)(i) No ERISA Event has occurred, and neither the Borrower nor any ERISA Affiliate is aware of any fact, event or circumstance that could reasonably be expected to constitute or result in an ERISA Event with respect to any Pension Plan; (ii) the Borrower and each ERISA Affiliate has met all applicable requirements under the Pension Funding Rules in respect of each Pension Plan, and no waiver of the minimum funding standards under the Pension Funding Rules has been applied for or obtained; (iii) as of the most recent valuation date for any Pension Plan, the funding target attainment percentage (as defined in Section 430(d)(2) 
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of the Code) is 60% or higher and neither the Borrower nor any ERISA Affiliate knows of any facts or circumstances that could reasonably be expected to cause the funding target attainment percentage for any such plan to drop below 60% as of the most recent valuation date; (iv) neither the Borrower nor any ERISA Affiliate has incurred any liability to the PBGC other than for the payment of premiums, and there are no premium payments which have become due that are unpaid; (v) neither the Borrower nor any ERISA Affiliate has engaged in a transaction that could be subject to Section 4069 or Section 4212(c) of ERISA; and (vi) no Pension Plan has been terminated by the plan administrator thereof nor by the PBGC, and no event or circumstance has occurred or exists that could reasonably be expected to cause the PBGC to institute proceedings under Title IV of ERISA to terminate any Pension Plan.
(d)Neither the Borrower nor any ERISA Affiliate maintains or contributes to, or has any unsatisfied obligation to contribute to, or liability under, any active or terminated Pension Plan other than (A) on the Closing Date, those listed on Schedule 5.13(d) hereto and (B) thereafter, Pension Plans not otherwise prohibited by this Agreement.
5.14Subsidiaries; Equity Interests.  As of the Closing Date, the Borrower has no Subsidiaries other than those specifically disclosed in Part A of Schedule 5.14, and all of the outstanding Equity Interests in such Subsidiaries have been validly issued, are fully paid and nonassessable and are owned by the Borrower in the amounts specified on Part A of Schedule 5.14 free and clear of all Liens.  As of the Closing Date, the Borrower has no equity investments in any other corporation or entity other than those specifically disclosed in Part C of Schedule 5.14.  All of the outstanding Equity Interests in the Borrower have been validly issued and are fully paid and nonassessable.
5.15Margin Regulations; Investment Company Act.
(a)None of the Borrower or its Subsidiaries is engaged or will engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock.
(b)None of the transactions contemplated by this Agreement (including 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, the Securities Exchange Act of 1934, as amended, or regulations issued pursuant thereto, or Regulations T, U or X.
(c)None of the Borrower, any Person Controlling the Borrower, or any Subsidiary is or is required to be registered as an “investment company” under the Investment Company Act of 1940.
(d)Following the application of the proceeds of each Borrowing hereunder or drawing under each Letter of Credit, not more than 25% of the value of the assets (either of the Borrower or of the Borrower and its Subsidiaries on a consolidated basis) will be margin stock.
5.16Disclosure.  The Borrower has disclosed to the Administrative Agent and the Lenders all agreements, instruments and corporate or other restrictions to which it or any of its Subsidiaries is subject, and all other matters known to it, that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect.  No report, financial statement, certificate or other information furnished (whether in writing or orally) by or on behalf of the Borrower to the Administrative Agent or any Lender in connection with the transactions contemplated hereby and the negotiation of this Agreement or delivered under any Loan Document or Collateral Document (in each case, as modified or supplemented by other information so furnished) contains any material misstatement of fact or omits to state any 
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material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that, with respect to projected financial information, the Borrower represents only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time.
5.17Compliance with Laws.  The Borrower and each Subsidiary thereof is in compliance in all material respects with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its properties, except in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted or (b) the failure to comply therewith, either individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect.
5.18Taxpayer Identification Number.  The Borrower’s true and correct U.S. taxpayer identification number is set forth on Schedule 10.02.
5.19Intellectual Property; Licenses, Etc.  The Borrower and its Subsidiaries own, or possess the right to use, all of the trademarks, service marks, trade names, copyrights, patents, patent rights, franchises, licenses and other intellectual property rights (collectively, “IP Rights”) that are reasonably necessary for the operation of their respective businesses, without conflict with the rights of any other Person.  To the best knowledge of the Borrower, no slogan or other advertising device, product, process, method, substance, part or other material now employed, or now contemplated to be employed, by the Borrower or any Subsidiary infringes upon any rights held by any other Person.  Except as specifically disclosed on Schedule 5.19, no claim or litigation regarding any of the foregoing is pending or, to the best knowledge of the Borrower, threatened, which, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.
5.20Significant Debt Agreements and Liens.
(a)Significant Debt Agreements.  Part A of Schedule 5.20 is a complete and correct list of each credit agreement, loan agreement, indenture, purchase agreement, guarantee, letter of credit or other arrangement providing for or otherwise relating to any Indebtedness or any extension of credit (or commitment for any extension of credit) to, or guarantee by, the Borrower or any of its Subsidiaries outstanding on the date hereof the aggregate principal or face amount of which equals or exceeds (or may equal or exceed) the Threshold Amount, and the aggregate principal or face amount outstanding or that may become outstanding as of December 31, 2021 under each such arrangement is correctly described in Part A of Schedule 5.20.  Each of the Borrower and its Subsidiaries is in material compliance with all covenants and agreements set forth in each of the credit agreements, loan agreements, indentures, purchase agreements, guarantees, letters of credit or other arrangements listed on Part A of Schedule 5.20 to which it is a party.
(b)Liens.  Part B of Schedule 5.20 is a complete and correct list of each Lien securing any series or item of Indebtedness of the Borrower or any of its Subsidiaries outstanding on the date hereof if the aggregate principal or face amount of such series or item of Indebtedness equals or exceeds (or may equal or exceed) the Threshold Amount and covering any property of the Borrower or any of its Subsidiaries, and the aggregate Indebtedness secured (or that may be secured) by each such Lien and the property covered by each such Lien as of the date hereof is correctly described in Part B of Schedule 5.20.
5.21Solvency.  The Borrower is, and after giving effect to each Credit Extension hereunder will be, Solvent.
5.22Wholesale Power Contracts.  The Borrower has heretofore delivered to the Administrative Agent complete and correct copies of the forms of the Wholesale Power 
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Contracts and each amendment and supplement thereto (except for schedules to the Wholesale Power Contracts related to points of delivery for Members, list of contracts with Members, resale at wholesale of electricity by Members, amount of purchase and type of purchase by any Members’ self-supply options for any partial requirements Wholesale Power Contracts, or an excerpt of a provision from Borrower’s contracts with the United States of America entitled “Resale of Electric Service”), and each of the Wholesale Power Contracts in effect on the date hereof (which are listed on Schedule 5.22) is substantially similar in all material respects to such forms.  The Borrower has not been informed of any condition or circumstance that would impair any Member’s ability to perform its obligations under any Wholesale Power Contract to which it is a party and that could reasonably be expected (either individually or in the aggregate) to result in a Material Adverse Effect.
5.23Reserved.
5.24Indenture and Supplements.  The Indenture (together with any supplements modifying the terms thereof provided by the Borrower to the Administrative Agent from time to time) and Supplements 2, 20, 38, 40, 43 and 44 thereto consist of the entire Indenture and Supplements thereto, other than (a) with respect to the Indenture, other supplements thereto which provide for additional secured obligations thereunder and additional collateral descriptions and (b) exhibits and riders containing legal or property descriptions and locations, descriptions of the secured obligations and certain forms, none of which modify the terms and provisions of the covenants and agreements contained in the Indenture.
5.25Collateral Documents.  The Indenture (excluding Supplement 44) constitutes, and when Supplement 44 to the Indenture is executed and delivered by the Borrower and the Trustee and filed and recorded, the Indenture will constitute, a direct and valid lien upon all of the properties and assets of the Borrower specifically or generally described or referred to in the Indenture as being subject to the lien thereof, and will create a similar lien upon all properties and assets acquired by the Borrower after the date hereof which are required to be subjected to the lien of the Indenture, when acquired by the Borrower, and subject, as to real property, to the recordation of a supplement to the Indenture describing such after-acquired property; the descriptions of all such properties and assets contained in the granting clauses of the Indenture are correct and adequate for the purposes of the Indenture; and the Indenture (excluding Supplement 44 to the Indenture) has been duly recorded as a mortgage and deed of trust of real estate, and any required filings (other than with respect to filing Supplement 44 to the Indenture) with respect to personal property and fixtures subject to the lien of the Indenture have been duly made in each place in which such recording or filing is required to protect, preserve and perfect the lien of the Indenture; and all Taxes and recording and filing fees required to be paid with respect to the execution, recording or filing of the Indenture, the filing of financing statements related thereto and similar documents and the issuance of the Secured Note (other than with respect to filing Supplement 44 to the Indenture) have been paid; Supplement 44 to the Indenture will be duly recorded or filed within 90 days of the Closing Date in the real and personal property records in each place in which the Indenture (excluding Supplement 44 to the Indenture) has been recorded or filed and in all other places required to protect, preserve and perfect the lien of the Indenture, and all Taxes and recording and filing fees required to be paid with respect to the execution, recording or filing of Supplement 44 to the Indenture will be paid.  Upon filing of Supplement 44 to the Indenture (or notices thereof) and financing statements in the official public records of the applicable jurisdictions, the lien and security interest so perfected shall be first and prior to any other lien or security interest on the Borrower’s right, title and interest in the Trust Estate (excluding the “Easements” listed on Exhibit A through Exhibit A-37 to the Indenture), subject only to the exceptions referred to in the Indenture and Permitted Liens and Encumbrances.
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5.26OFAC; Anti-Terrorism Laws.
(a)None of the Borrower, any of its Subsidiaries or, to the knowledge of the Borrower, any director, officer, employee, agent, or Affiliate of the Borrower or any of its Subsidiaries is an individual or entity that is, or is owned or controlled by individuals or entities that are:  (i) the subject/target of any sanctions administered or enforced by OFAC, the U.S. Department of State, the United Nations Security Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions authority (collectively, “Sanctions”),  (ii) located, organized or resident in a Sanctioned Country or (iii) conducts any business in a Sanctioned Country or with a Sanctioned Person .
(b)Neither the making of the Credit Extensions hereunder nor the use of the proceeds thereof will violate or will be used for the purposes of funding any activity, business or transactions that violates applicable Sanctions, applicable Anti-Corruption Laws, the Patriot Act, the Trading with the Enemy Act, as amended, or any of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto.  The Borrower and its Subsidiaries are in compliance in all material respects with the Patriot Act.  
(c)The Borrower, its Subsidiaries and, to the knowledge of the Borrower, their respective directors, officers, employees and agents of, are in compliance with all applicable Sanctions and with the FCPA and the rules and regulations thereunder and any other applicable Anti-Corruption Law, in all material respects.  The Borrower and its Subsidiaries have instituted and maintain policies and procedures designed to promote and achieve continued compliance with applicable Sanctions, the FCPA and any other applicable Anti-Corruption Laws.
5.27EEA Financial Institutions.  The Borrower is not an EEA Financial Institution.
5.28Beneficial Ownership Certification. As of (a) the Closing Date, the information included in the Beneficial Ownership Certification delivered pursuant to Section 4.01(a)(xvi) is true and correct in all respects and (b) the date delivered, the information included in each Beneficial Ownership Certification delivered pursuant to Section 6.18 is true and correct in all respects. 
5.29Plan Assets.  As of the Closing Date, the Borrower is not and will not be using “plan assets” (within the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit Plans with respect to the Borrower’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments or this Agreement.

ARTICLE VI.
AFFIRMATIVE COVENANTS
So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, the Borrower shall, and shall (except in the case of the covenants set forth in Sections 6.01, 6.02, 6.03 and 6.15) cause each Restricted Subsidiary to:
6.01Financial Statements.  Deliver to the Administrative Agent and each Lender, in form and detail satisfactory to the Administrative Agent and the Required Lenders:
(a)as soon as available, but in any event within 120 days after the end of each Fiscal Year of the Borrower (or, if earlier, 15 days after the date required to be filed with the SEC (without giving effect to any extension permitted by the SEC)), a consolidated balance sheet of the Borrower and its subsidiaries as at the end of such Fiscal Year, and the related consolidated 
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statements of income or operations, changes in shareholders’ equity, and cash flows for such Fiscal Year, setting forth in each case in comparative form the figures for the previous Fiscal Year, all in reasonable detail and prepared in accordance with GAAP, audited and accompanied by a report and opinion of an independent certified public accountant of nationally recognized standing reasonably acceptable to the Required Lenders, which report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to the scope of such audit; and
(b)as soon as available, but in any event within 60 days after the end of each of the first three fiscal quarters of each Fiscal Year of the Borrower (or, if earlier, five days after the date required to be filed with the SEC (without giving effect to any extension permitted by the SEC)) (commencing with the fiscal quarter ended March 31, 2022), a consolidated balance sheet of the Borrower and its subsidiaries as at the end of such fiscal quarter, the related consolidated statements of income or operations for such fiscal quarter and for the portion of the Borrower’s Fiscal Year then ended, and the related consolidated statements of cash flows for the portion of the Borrower’s Fiscal Year then ended, in each case setting forth in comparative form, as applicable, the figures for the corresponding fiscal quarter of the previous Fiscal Year and the corresponding portion of the previous Fiscal Year, all in reasonable detail, certified by the chief executive officer, chief financial officer or treasurer of the Borrower as fairly presenting the financial condition, results of operations, and cash flows of the Borrower and its subsidiaries in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes.
As to any information contained in materials furnished pursuant to Section 6.02(c), the Borrower shall not be separately required to furnish such information under clause (a) or (b) above, but the foregoing shall not be in derogation of the obligation of the Borrower to furnish the information and materials described in clauses (a) and (b) above at the times specified therein.  In no event shall any Restricted Subsidiary be required to provide separate financial statements to the Administrative Agent or any Lender.
6.02Certificates; Other Information.  Deliver to the Administrative Agent and each Lender, in form and detail satisfactory to the Administrative Agent and the Required Lenders:
(a)concurrently with the delivery of the financial statements referred to in Sections 6.01(a) and (b) (commencing with the delivery of the financial statements for the fiscal quarter ended March 31, 2022), a duly completed Compliance Certificate signed by a Responsible Officer of the Borrower (which delivery may, unless the Administrative Agent, or a Lender requests executed originals, be by electronic communication including fax or email and shall be deemed to be an original authentic counterpart thereof for all purposes);
(b)promptly after any request by the Administrative Agent or any Lender, copies of any detailed audit reports, management letters or recommendations submitted to the board of directors (or the audit committee of the board of directors) of the Borrower by independent accountants in connection with the accounts or books of the Borrower or any Subsidiary, or any audit of any of them;
(c)promptly after any request by the Administrative Agent or any Lender, copies of any filings and registrations with, and reports to and from, any Governmental Authority, including the SEC; and
(d)promptly, such additional information regarding the business, financial or corporate affairs (including budget and forecast information) of the Borrower or any Subsidiary, or compliance with the terms of the Loan Documents or Collateral Documents, as the Administrative Agent or any Lender may from time to time reasonably request.
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Documents required to be delivered pursuant to Section 6.01(a) or (b) or Section 6.02(c) (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto on the Borrower’s website on the Internet at the website address listed on Schedule 10.02; or (ii) on which such documents are posted on the Borrower’s behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent); provided that: (i) the Borrower shall deliver paper copies of such documents to the Administrative Agent or any Lender upon its request to the Borrower to deliver such paper copies until a written request to cease delivering paper copies is given by the Administrative Agent or such Lender and (ii) the Borrower shall notify the Administrative Agent and each Lender (by facsimile or electronic mail) of the posting of any such documents and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents.  The Administrative Agent shall have no obligation to request the delivery of or to maintain paper copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Borrower with any such request by a Lender for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents.
The Borrower hereby acknowledges that (a) the Administrative Agent and/or the Arranger will make available to the Lenders and the L/C Issuers materials and/or information provided by or on behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on DebtX or another similar electronic system (the “Platform”) and (b) certain of the Lenders (each, a “Public Lender”) may have personnel who do not wish to receive material non-public information with respect to the Borrower or its Affiliates, or the respective securities of any of the foregoing, and who may be engaged in investment and other market-related activities with respect to such Persons’ securities.  The Borrower hereby agrees that (w) all Borrower Materials that are to be made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking Borrower Materials “PUBLIC,” the Borrower shall be deemed to have authorized the Administrative Agent, the Arranger, the L/C Issuers and the Lenders to treat such Borrower Materials as not containing any material non-public information with respect to the Borrower or its securities for purposes of United States Federal and state securities laws (provided that to the extent such Borrower Materials constitute Information, they shall be treated as set forth in Section 10.07); (y) all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public Side Information;” and (z) the Administrative Agent and the Arranger shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Side Information.”
6.03Notices.  Promptly notify the Administrative Agent and each Lender:
(a)of the occurrence of any Default;
(b)of any matter that has resulted or could reasonably be expected to result in a Material Adverse Effect, including (i) breach or non-performance of, or any default under, the Indenture or any Wholesale Power Contract; (ii) any dispute, litigation, investigation, proceeding or suspension between the Borrower or any Subsidiary and any Governmental Authority; (iii) the commencement of, or any material development in, any litigation or proceeding affecting the Borrower or any Subsidiary, including pursuant to any applicable Environmental Laws;
(c)of the occurrence of any ERISA Event;
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(d)of any material change in accounting policies or financial reporting practices by the Borrower or any Subsidiary;
(e)of any amendment (other than amendments to schedules to the Wholesale Power Contracts related to points of delivery for Members, list of contracts with Members, amount of purchase and type of purchase by any Members’ self-supply options for any partial requirements Wholesale Power Contracts, resale at wholesale of electricity by Members, or an excerpt of a provision from the Borrower’s contracts with the United States of America entitled “Resale of Electric Service”), restatement, or termination of or material default under any Wholesale Power Contract;
(f)of any announcement by Moody’s, S&P or Fitch of any change or possible change in a Debt Rating;
(g)formation or acquisition of any Subsidiary, Equity Interests or equity investments in any other corporation or entity of the Borrower other than those specifically disclosed on Schedule 5.14 or those which do not have, in the aggregate, considered with all other Subsidiaries, Equity Interests, or other corporations or entities of the Borrower not disclosed on Schedule 5.14 or in accordance with this Section 6.03(g), total net worth in excess of the Threshold Amount;
(h)when any Subsidiary becomes or ceases to be a Restricted Subsidiary in accordance with Section 6.14; 
(i)of the adoption by the Borrower or a Restricted Subsidiary of a board resolution providing for the retirement of (and the instrument creating any Balloon Indebtedness shall permit the retirement of), or for the establishment of a sinking fund for, such Balloon Indebtedness according to a fixed schedule stated in such resolution; and
(j)any change in the information provided in any Beneficial Ownership Certification that would result in a change to the list of beneficial owners identified in parts (c) or (d) of such certification.
Each notice pursuant to this Section 6.03 (other than clauses (f) or (g) of Section 6.03) shall be accompanied by a statement of a Responsible Officer of the Borrower setting forth details of the occurrence referred to therein and stating what action the Borrower has taken and proposes to take with respect thereto.  Each notice pursuant to Section 6.03(a) shall describe with particularity any and all provisions of any Loan Document or Collateral Document that have been breached.
6.04Payment of Obligations.  Pay and discharge as the same shall become due and payable, all its obligations and liabilities, including (a) all Tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, unless the same are being contested in good faith by appropriate proceedings diligently conducted and adequate reserves in accordance with GAAP are being maintained by the Borrower or such Subsidiary; (b) all lawful claims which, if unpaid, would by Law become a Lien upon its property; and (c) all Indebtedness, as and when due and payable, but subject to any subordination provisions contained in any instrument or agreement evidencing such Indebtedness, in each case to the extent that the failure to so pay and discharge could reasonably be expected to have a Material Adverse Effect.
6.05Preservation of Existence, Etc.  (a) Preserve, renew and maintain in full force and effect its legal existence and good standing under the Laws of the jurisdiction of its organization except in a transaction permitted by Section 7.04 or 7.05; (b) take all reasonable action to maintain all rights, privileges, permits, licenses and franchises necessary or desirable in 
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the normal conduct of its business, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; and (c) preserve or renew all of its registered patents, trademarks, trade names and service marks, the non-preservation of which could reasonably be expected to have a Material Adverse Effect.
6.06Maintenance of Properties.  Operate in accordance with Prudent Utility Practice (or in the case of a Subsidiary auxiliary to the electric utility business, in accordance with customs and practices standard for its line of business).
6.07Maintenance of Insurance.  Will, and will cause each of its Restricted Subsidiaries to, at all times keep or cause to be kept all of its property and operations or interest therein of an insurable nature and of the character usually insured by companies operating similar properties and engaged in similar operations insured in amounts customarily carried and against loss or damage from such cases as are customarily insured against by similar companies in accordance with Prudent Utility Practice.  All such insurance shall be effected with responsible insurance carriers, or by the Borrower in the case of self insurance, and all such insurance shall otherwise comply with the Indenture in all material respects.
6.08Compliance with Laws.  Comply in all material respects with the requirements of all Laws (including all Environmental Laws and the provisions of ERISA) and all orders, writs, injunctions and decrees applicable to it or to its business or property, except in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted; or (b) the failure to comply therewith could not reasonably be expected to have a Material Adverse Effect.
6.09Compliance with Indenture and Wholesale Power Contracts.  Comply in all material respects with the requirements of the Indenture and the Wholesale Power Contracts except in such instances in which (a) such requirement is being disputed in good faith by appropriate proceedings diligently conducted; or (b) the failure to comply therewith could not reasonably be expected to have a Material Adverse Effect.
6.10Books and Records.  (a) Maintain proper books of record and account, in which full, true and correct entries in conformity with GAAP consistently applied shall be made of all financial transactions and matters involving the assets and business of the Borrower or its subsidiaries, as the case may be and (b) maintain such books of record and account in material conformity with all applicable requirements of any Governmental Authority having regulatory jurisdiction over the Borrower or its Subsidiaries, as the case may be.
6.11Inspection Rights.  Permit representatives and independent contractors of the Administrative Agent and each Lender to visit and inspect any of its properties, to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs, finances and accounts with its directors, officers, and independent public accountants, all at such reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable advance notice to the Borrower; provided that when an Event of Default exists the Administrative Agent or any Lender (or any of their respective representatives or independent contractors) may do any of the foregoing at the expense of the Borrower at any time during normal business hours and without advance notice.
6.12Use of Proceeds.  Use the proceeds of the Credit Extensions for working capital, capital expenditures, and other general corporate purposes not in contravention of any Law or of any Loan Document or Collateral Document.
6.13Preparation of Environmental Reports.  At the request of the Required Lenders, and only in the case of incurrence of Environmental Liability which could reasonably be expected to be in excess of the Threshold Amount, provide to the Lenders within 120 days after such request, at the expense of the Borrower, an environmental site assessment report for any of its properties described in such request, prepared by an environmental consulting firm acceptable to the Administrative Agent, indicating the presence or absence of Hazardous 
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Materials and the estimated cost of any compliance, removal or remedial action in connection with any Hazardous Materials on such properties; without limiting the generality of the foregoing, if the Administrative Agent determines at any time that a material risk exists that any such report will not be provided within the time referred to above, the Administrative Agent may retain an environmental consulting firm to prepare such report at the expense of the Borrower, and the Borrower hereby grants and agrees to cause any Subsidiary that owns any property described in such request to grant at the time of such request to the Administrative Agent, the Lenders, such firm and any agents or representatives thereof an irrevocable non-exclusive license, subject to the rights of tenants, to enter onto their respective properties to undertake such an assessment.
6.14Restricted Subsidiaries.
(a)Any Subsidiary may become a Restricted Subsidiary or cease to be a Restricted Subsidiary in accordance with Section 4.17 of the Indenture.
(b)Any Subsidiary not designated as a Restricted Subsidiary pursuant to Section 4.17 of the Indenture shall not be subject to the covenants established by the Borrower in this Agreement.
6.15CoBank Equities.  So long as CoBank (or its affiliate) is a Lender hereunder, (i) maintain its status as an entity eligible to borrow from CoBank (or its affiliate) and (ii) acquire equity in CoBank in such amounts and at such times as CoBank may require in accordance with CoBank’s Bylaws and Capital Plan (as each may be amended from time to time), except that the maximum amount of equity that Borrower may be required to purchase in CoBank in connection with the Loans made by CoBank (or its affiliate) may not exceed the maximum amount permitted by the Bylaws and Capital Plan at the time this Agreement is entered into.  The Borrower acknowledges receipt of a copy of (x) CoBank’s most recent annual report, and if more recent, CoBank’s latest quarterly report, (y) CoBank’s Notice to Prospective Stockholders and (z) CoBank’s Bylaws and Capital Plan, which describe the nature of all CoBank Equities as well as capitalization requirements, and agrees to be bound by the terms thereof.
6.16Evidence of Financing Statements, etc.  Within 90 days following the Closing Date, all financing statements required or permitted to be filed in accordance with the Uniform Commercial Code, Supplement 44 to the Indenture, or other instruments with respect thereto as may be necessary shall have been duly filed or recorded in such a manner and in such places as is satisfactory to the Administrative Agent (and no other instruments shall be required to be filed) to establish and perfect the security interests and liens of the Trustee in the Mortgaged Property created by or pursuant to the Indenture and which can be perfected by filing Supplement 44 to the Indenture or a financing statement under the Uniform Commercial Code and shall have delivered reasonably appropriate evidence of the same to the Administrative Agent.
6.17Sanctions; Anti-Corruption Laws.  Will, and will cause each of its Subsidiaries to maintain in effect policies and procedures designed to promote compliance by the Borrower, its Subsidiaries, and their respective directors, officers, employees, and agents with applicable Sanctions and with the FCPA and any other applicable Anti-Corruption Laws.
6.18Further Assurances.  From time to time execute and deliver, or cause to be executed and delivered, such additional instruments, certificates or documents including a Beneficial Ownership Certification if requested by any Lender, and take all such actions, as the Administrative Agent may reasonably request for the purposes of implementing or effectuating the provisions of this Agreement and the other Loan Documents and the Collateral Documents.
6.19Member Contract Termination Payment.  If the Borrower receives three hundred million ($300,000,000) or more, in a single Fiscal Year, in Contract Termination Payments from one or more Members, the Borrower will deposit at least 80% of the cash 
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proceeds from Contract Termination Payments received during such Fiscal Year into a Restricted Use Account.  Funds from such Restricted Use Account may be withdrawn by the Borrower, without any action, consent, or notice of any other party to this Agreement or any other Loan Documents,: (a) as part of the Borrower’s recognition of associated deferred revenue over time associated with Contract Termination Payments; (b) to fund the payment, including prepayment, of Indebtedness; (c) in lieu of new Indebtedness financing, to fund working capital, capital expenditures and other general corporate purposes; or (d) to fund the acquisition or construction of Additional Facilities (as defined in the Indenture) which will become Mortgaged Property.  Funds in the Restricted Use Account may be invested for cash management purposes made pursuant to a written investment policy approved by the Board of Directors of the Borrower, a copy of which has been provided to the Administrative Agent, and any interest from such investments is not part of the Restricted Use Account.
In the event the Borrower is required by any Governmental Authority to refund to a Member a portion or all of a Contract Termination Payment paid to the Borrower by such Member, (y) the Borrower may also withdraw such cash required to be refunded from the Restricted Use Account for payment to such Member; and (z) if after such refund to the Member, the amount received by the Borrower, after deducting such refund, from one or more Members associated with the Fiscal Year in which the Borrower received three hundred million ($300,000,000) or more, in a single Fiscal Year, in Contract Termination Payments is now less than three hundred million ($300,000,000), the Borrower may also withdraw all such other cash proceeds from Contract Termination Payments for such Fiscal Year out of the Restricted Use Account.
This Section is limited to the use of the cash from such Contract Termination Payments and does not impact or restrict in any way the Borrower’s use or application of the revenue associated with a Contract Termination Payment.

ARTICLE VII.
NEGATIVE COVENANTS
So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, the Borrower shall not, nor shall it permit any Restricted Subsidiary to, directly or indirectly:
7.01Liens.  Grant, create, assume, incur, or suffer to exist, be granted, created, assumed, incurred or to extend any lien or encumbrance upon any of its Mortgaged Property or any property of the Restricted Subsidiary pledged to the Trustee (except “excepted property” or “excluded property” of the Restricted Subsidiaries on terms similar to the terms relating thereto in the Indenture), whether now owned or hereafter acquired, except Permitted Liens and Encumbrances and CoBank’s statutory Lien in the CoBank Equities.
7.02Investments.  Make any Investments, except:
(a)Investments outstanding on the date hereof;
(b)operating deposit accounts with banks;
(c)Investments for cash management purposes made pursuant to a written investment policy approved by the Board of Directors of the Borrower, a copy of which has been provided to the Administrative Agent;
(d)Investments by the Borrower and its Restricted Subsidiaries in the Borrower and its Restricted Subsidiaries;
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(e)hedging agreements entered into in the ordinary course of the Borrower’s business and not for speculative purposes;
(f)Investments consisting of security deposits made in the ordinary course of business; 
(g)retained earnings or patronage of Subsidiaries and patronage allocated to the Borrower or a Subsidiary as a result of transactions in the ordinary course of business with cooperatives, including CoBank Equities;
(h)Investments made in connection with the Borrower and its Subsidiaries in other businesses related to the System; and
(i)additional Investments approved by the Board of Directors of the Borrower that do not in the aggregate with all other Investments (except those described in clauses (a) through (h) above) exceed $675,000,000.
7.03Indebtedness.  Create, incur, assume or suffer to exist any Indebtedness, except Indebtedness under the Loan Documents and the Collateral Documents and as permitted pursuant to Section 4.02 of the Indenture.
7.04Fundamental Changes.  Merge, dissolve, liquidate, consolidate with or into another Person, or Dispose of (whether in one transaction or in a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person, except, so long as no Default exists or would result therefrom, as otherwise permitted by Section 4.10 or Article 8 of the Indenture.
7.05Dispositions.  Make any Disposition or enter into any agreement to make any Disposition, except as permitted in the Indenture.
7.06Restricted Payments.  Make Restricted Payments unless (a) no Default has occurred and is continuing or would result from such distribution; and (b) after such Restricted Payment the Equity to Capitalization Ratio shall be not less than the applicable percentage set forth in Section 7.13(a).
7.07Change in Nature of Business.  Engage in any material line of business substantially different from those lines of business conducted by the Borrower and its Subsidiaries on the date hereof or any business substantially related or incidental thereto.
7.08Wholesale Power Contracts, Organization Documents.
(a)Modify, supplement or waive any provision of any Wholesale Power Contract (other than amendments to schedules to the Wholesale Power Contract related to points of delivery for Members, list of contracts with Members, resale at wholesale of electricity by Members, amount of purchase and type of purchase by any Members’ self-supply options for any partial requirements Wholesale Power Contracts, or an excerpt of a provision from Borrower’s contracts with the United States of America entitled “Resale of Electric Service”) unless such modification, supplement or waiver could not reasonably be expected to prevent the Borrower from setting its rates thereunder to recover all of its costs and expenses to the extent not covered by other moneys available to the Borrower;
(b)Terminate any Wholesale Power Contract unless such termination could not reasonably be expected to prevent the Borrower from setting its rates under the remaining Wholesale Power Contracts to recover all of its costs and expenses to the extent not covered by other moneys available to the Borrower; or
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(c)Modify, supplement or waive any provision of any Organization Document of the Borrower unless such modification, supplement or waiver could not reasonably be expected to have a Material Adverse Effect.
7.09Transactions with Affiliates.  Enter into any transaction of any kind with any Affiliate of the Borrower, whether or not in the ordinary course of business, other than on fair and reasonable terms substantially as favorable to the Borrower or such Subsidiary as would be obtainable by the Borrower or such Subsidiary at the time in a comparable arm’s length transaction with a Person other than an Affiliate; provided that the foregoing restriction shall not apply to transactions between or among the Borrower and any Subsidiaries or between and among any Subsidiaries.
7.10Restrictive Agreements.  Enter into any Contractual Obligation (other than any Loan Document or Collateral Document) that (a) limits the ability (i) of any Restricted Subsidiary to make Restricted Payments to the Borrower or to otherwise transfer property to the Borrower, (ii) of any Restricted Subsidiary to Guarantee the Indebtedness of the Borrower or (iii) of the Borrower or any Restricted Subsidiary to create, incur, assume or suffer to exist Liens on property of such Person; provided that this clause (iii) shall not prohibit any negative pledge incurred or provided in favor of any holder of Indebtedness permitted under Section 7.03 solely to the extent any such negative pledge relates to the property financed by or the subject of such Indebtedness; (b) requires the grant of a Lien to secure an obligation of such Person if a Lien is granted to secure another obligation of such Person, (c) prohibits or limits the ability of the Borrower to create, incur, assume or suffer to exist CoBank’s statutory first Lien on the CoBank Equities or (d) prohibits or limits the ability of the Borrower to perform its obligations under any Loan Document or Collateral Document.
7.11Use of Proceeds.  (a) Use the proceeds of any Credit Extension, whether directly or indirectly, and whether immediately, incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulation U of the FRB) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund indebtedness originally incurred for such purpose and (b) use Credit Extensions in an aggregate amount in excess of the CP Backup Sublimit to provide liquidity for the Borrower’s commercial paper program.
7.12Changes in Accounting Policies, Fiscal Periods.
(a)Permit any material change in accounting policies or financial reporting practices by the Borrower or any Subsidiary; or
(b)Permit the fiscal year of the Borrower to end on a day other than December 31.
7.13Financial Covenants
(a)Equity to Capitalization Ratio.  Permit the Equity to Capitalization Ratio to be less than 18% as of the last day of any calendar quarter.
(b)Debt Service Ratio.  Permit the Debt Service Ratio to be less than 110% as of the last day of any calendar year;
provided that if the Debt Service Ratio is less than 110% as of the last day of any calendar year, a plan must be implemented pursuant to Section 4.03 of the Indenture.
7.14Sanctions; Anti-Corruption; Use of Proceeds.  Use the proceeds of the Loans or use the Letters of Credit, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person, (i) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of the FCPA or any other applicable Anti-Corruption Law, or (ii) (A) to fund 
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any activities or business of or with any Person, or in any country or territory, that, at the time of such funding, is the subject of Sanctions, or (B) in any other manner that would result in a violation of Sanctions by any Person (including any Person participating in the Loans or Letters of Credit, whether as Administrative Agent, Arranger, L/C Issuer, Lender, underwriter, advisor, investor, or otherwise).
ARTICLE VIII.
EVENTS OF DEFAULT AND REMEDIES
8.01Events of Default.  Any of the following shall constitute an Event of Default:
(a)Non-Payment.  The Borrower fails to pay (i) when and as required to be paid herein, any amount of principal of any Loan or any L/C Obligation (except for an L/C Obligation funded by a Committed Loan), or (ii) within three Business Days after the same becomes due, any interest on any Loan or on any L/C Obligation, or any fee due hereunder, or (iii) within five Business Days after the same becomes due, any other amount payable hereunder or under any other Loan Document; or
(b)Specific Covenants.  The Borrower fails to perform or observe any term, covenant or agreement contained in any of Section 6.01, 6.02, 6.03, 6.05 or 6.12 or Article VII; or
(c)Other Defaults.  The Borrower fails to perform or observe any other covenant or agreement (not specified in clause (a) or (b) above) contained in any Loan Document on its part to be performed or observed and such failure continues for 30 days after the earlier of (i) knowledge thereof by a Responsible Officer or (ii) notice thereof from the Administrative Agent (given at the request of any Lender) to the Borrower; or
(d)Representations and Warranties.  Any representation, warranty, certification or statement of fact made or deemed made by or on behalf of the Borrower herein, in any other Loan Document, or in any document delivered in connection herewith or therewith shall be incorrect or misleading (i) in any respect, with respect to the representations and warranties qualified by materiality or Material Adverse Effect, or (ii) in any material respect, with respect to all other representations and warranties, when made or deemed made; or
(e)Cross-Default.  (i) The Borrower or any Subsidiary (A) fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than the Threshold Amount, or (B) fails to observe or perform any other agreement or condition relating to any such Indebtedness or Guarantee or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event occurs, the effect of which failure is to cause, or to permit the holder or holders of such Indebtedness or the beneficiary or beneficiaries of such Guarantee of more than the Threshold Amount (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity, or such Guarantee to become payable or cash collateral in respect thereof to be demanded; or (ii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from any event of default under such Swap Contract as to which the Borrower is the Defaulting Party (as defined in such Swap Contract) and, in either event, the Swap Termination Value owed by the Borrower as a result thereof is greater than the Threshold Amount; or
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(f)Insolvency Proceedings, Etc.  The Borrower or any of its Subsidiaries institutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the application or consent of such Person and the appointment continues undischarged or unstayed for 60 calendar days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any material part of its property is instituted without the consent of such Person and continues undismissed or unstayed for 60 calendar days, or an order for relief is entered in any such proceeding; or
(g)Inability to Pay Debts; Attachment.  (i) The Borrower or any Subsidiary becomes unable or admits in writing its inability or fails generally to pay its debts as they become due, or (ii) any writ or warrant of attachment or execution or similar process is issued or levied against all or any material part of the property of any such Person and is not released, vacated or fully bonded within 30 days after its issue or levy; or
(h)Judgments.  There is entered against the Borrower or any Subsidiary (i) one or more final judgments or orders for the payment of money in an aggregate amount (as to all such judgments or orders) exceeding the Threshold Amount (to the extent not covered by independent third-party insurance as to which the insurer does not dispute coverage), or (ii) any one or more non-monetary final judgments that have, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and, in either case, (A) enforcement proceedings are commenced by any creditor upon such judgment or order, or (B) there is a period of 30 consecutive days during which a stay of enforcement of such judgment, by reason of a pending appeal or otherwise, is not in effect; or
(i)ERISA.  (i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which has resulted or could reasonably be expected to result in liability of the Borrower under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in excess of the Threshold Amount, or (ii) the Borrower or any ERISA Affiliate fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount which could reasonably be expected to result in a Material Adverse Effect; or
(j)Wholesale Power Contracts.  One or more Members, the aggregate of which at any time constitute twenty-five percent (25%) or more of the Revenues of the Borrower for the previous Fiscal Year, shall default in the performance of any payment obligation under its or their Wholesale Power Contracts where the aggregate amount of such default or defaults exceeds $50,000,000 and such default or defaults have continued for 35 days beyond the due date with respect thereto unless within 60 days thereafter Borrower raises rates which could, in the judgment of the Required Lenders, be expected to recover the reduction in Revenues attributable to such default.
(k)Invalidity of Loan Documents.  Any provision of any Loan Document, at any time after its execution and delivery and for any reason other than as expressly permitted hereunder or thereunder or satisfaction in full of all the Obligations, ceases to be in full force and effect; or the Borrower (or any other Person on behalf of the Borrower) contests in any manner the validity or enforceability of any provision of any Loan Document; or the Borrower denies that it has any or further liability or obligation under any Loan Document, or purports to revoke, terminate or rescind any provision of any Loan Document;
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(l)Collateral Documents.  Any Collateral Document after delivery thereof pursuant to Section 4.01 or 6.14 shall for any reason (other than pursuant to the terms thereof) cease to create a valid and perfected first priority Lien (subject to Liens permitted by Section 7.01 and Disposition permitted by Section 4.10 of the Indenture) on the Collateral purported to be covered thereby; or
(m)Change of Control.  There occurs any Change of Control.
8.02Remedies Upon Event of Default.  If any Event of Default occurs and is continuing, the Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders, take any or all of the following actions:
(a)declare the commitment of each Lender to make Loans and any obligation of each L/C Issuer to make L/C Credit Extensions to be terminated, whereupon such commitments and obligation shall be terminated;
(b)declare the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Borrower;
(c)require that the Borrower Cash Collateralize the L/C Obligations (in an amount equal to the then Outstanding Amount thereof); and
(d)exercise on behalf of itself, the Lenders and the L/C Issuers all rights and remedies available to it, the Lenders and the L/C Issuers under the Loan Documents and Collateral Documents;
provided that upon the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under the Bankruptcy Code of the United States, the obligation of each Lender to make Loans and any obligation of each L/C Issuer to make L/C Credit Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans and all interest and other amounts as aforesaid shall automatically become due and payable, and the obligation of the Borrower to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in each case without further act of the Administrative Agent or any Lender.
8.03Application of Funds.  After the exercise of remedies provided for in Section 8.02 (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.02), any amounts received on account of the Obligations shall, subject to the provisions of Sections 2.15 and 2.16, be applied by the Administrative Agent in the following order:
First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including fees, charges and disbursements of counsel to the Administrative Agent and amounts payable under Article III) payable to the Administrative Agent in its capacity as such;
Second, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal, interest and Letter of Credit Fees) payable to the Lenders and the L/C Issuers (including fees, charges and disbursements of counsel to the respective Lenders and the L/C Issuers (including fees and time charges for attorneys who may be employees of any Lender or any L/C Issuer) and amounts payable under Article III), ratably among them in proportion to the respective amounts described in this clause Second payable to them;
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Third, to payment of that portion of the Obligations constituting accrued and unpaid Letter of Credit Fees and interest on the Loans, L/C Borrowings and other Obligations, ratably among the Lenders and the L/C Issuers in proportion to the respective amounts described in this clause Third payable to them;
Fourth, to payment of that portion of the Obligations constituting unpaid principal of the Loans and L/C Borrowings, ratably among the Lenders and the L/C Issuers in proportion to the respective amounts described in this clause Fourth held by them;
Fifth, to the Administrative Agent for the account of the L/C Issuers, to Cash Collateralize that portion of L/C Obligations composed of the aggregate undrawn amount of Letters of Credit to the extent not otherwise Cash Collateralized by the Borrower pursuant to Sections 2.03 and 2.16; and
Last, the balance, if any, after all of the Obligations have been indefeasibly paid in full, to the Borrower or as otherwise required by Law.
Subject to Sections 2.03(c) and 2.15, amounts used to Cash Collateralize the aggregate undrawn amount of Letters of Credit pursuant to clause Fifth above shall be applied to satisfy drawings under such Letters of Credit as they occur.  If any amount remains on deposit as Cash Collateral after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the other Obligations, if any, in the order set forth above.
ARTICLE IX.
ADMINISTRATIVE AGENT
9.01Appointment and Authority.  Each of the Lenders and each L/C Issuer hereby irrevocably appoints CFC to act on its behalf as the Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto.  The provisions of this Article are solely for the benefit of the Administrative Agent, the Lenders and the L/C Issuers, and the Borrower shall not have rights as a third party beneficiary of any of such provisions.  It is understood and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar term) with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Law.  Instead such term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties.
9.02Rights as a Lender.  The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity.  Such Person and its branches and Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to account therefor to the Lenders.
9.03Exculpatory Provisions.  The Administrative Agent shall not have any duties or obligations except those expressly set forth herein and in the other Loan Documents, and its duties hereunder shall be administrative in nature.  Without limiting the generality of the foregoing, the Administrative Agent:
(a)shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing;
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(b)shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents); provided that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any Loan Document or applicable Law, including, for the avoidance of doubt, any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law; and
(c)shall not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of its branches or Affiliates in any capacity.
The Administrative Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in Sections 10.01 and 8.02) or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment.  The Administrative Agent shall be deemed not to have knowledge of any Default unless and until notice describing such Default is given to the Administrative Agent in writing by the Borrower, a Lender or an L/C Issuer.
The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with any Loan Document or Collateral Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or Collateral Document or any other agreement, instrument or document or the creation, perfection or priority of any Lien purported to be created by the Collateral Documents, (v) the value or the sufficiency of any Collateral or (vi) the satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent.
9.04Reliance by Administrative Agent.  The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person.  The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon.  In determining compliance with any condition hereunder to the making of a Loan, or the issuance, extension, increase, reinstatement or renewal of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or an L/C Issuer, the Administrative Agent may presume that such condition is satisfactory to such Lender or such L/C Issuer unless the Administrative Agent shall have received notice to the contrary from such Lender or such L/C Issuer prior to the making of such Loan or the issuance of such Letter of Credit.  The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.
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9.05Delegation of Duties.  The Administrative Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent.  The Administrative Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Related Parties.  The exculpatory provisions of this Article shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facility provided for herein as well as activities as Administrative Agent.  The Administrative Agent shall not be responsible for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a final and non-appealable judgment that the Administrative Agent acted with gross negligence or willful misconduct in the selection of such sub-agents.
9.06Resignation and Removal of Administrative Agent.  
(a)The Administrative Agent may at any time give notice of its resignation to the Lenders, the L/C Issuers and the Borrower.  Upon receipt of any such notice of resignation, the Required Lenders shall have the right, with consent of the Borrower (not to be unreasonably withheld, conditioned or delayed), to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United States.  If no such successor shall have been so appointed by the Required Lenders, with the consent of the Borrower (not to be unreasonably withheld, conditioned or delayed), and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation (or such earlier day as shall be agreed by the Required Lenders) (the “Resignation Effective Date”), then the retiring Administrative Agent may (but shall not be obligated to) on behalf of the Lenders and the L/C Issuers, appoint a successor Administrative Agent meeting the qualifications set forth above; provided that in no event shall any such successor Administrative Agent be a Defaulting Lender.  Whether or not a successor has been appointed, such resignation shall become effective in accordance with such notice on the Resignation Effective Date.
(b)If the Person serving as Administrative Agent is a Defaulting Lender pursuant to clause (d) of the definition thereof, the Required Lenders may, to the extent not prohibited by applicable Law, by notice in writing to the Borrower and such Person remove such Person as Administrative Agent and, in consultation with the Borrower, appoint a successor.  If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days (or such earlier day as shall be agreed by the Required Lenders) (the “Removal Effective Date”), then such removal shall nonetheless become effective in accordance with such notice on the Removal Effective Date.
(c)With effect from the Resignation Effective Date or the Removal Effective Date (as applicable) (1) the retiring Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral security, including Cash Collateral, held by the Administrative Agent on behalf of the Lenders or the L/C Issuers under any of the Loan Documents, the retiring Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed) and (2) except for any indemnity payments owed to the retiring or removed Administrative Agent, all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender and each L/C Issuer directly, until such time as the Required Lenders appoint a successor Administrative Agent as provided for above in this Section.  Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Administrative Agent, and the retiring Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section), including with respect to the Secured Note.  The fees payable by the 
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Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor.  After the retiring Administrative Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article and Section 10.04 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring Administrative Agent was acting as Administrative Agent.
(d)Any resignation by CFC as Administrative Agent pursuant to this Section shall also constitute its resignation as an L/C Issuer and Swing Line Lender.  Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer and Swing Line Lender, (b) the retiring L/C Issuer and Swing Line Lender shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and (c) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to the retiring L/C Issuer to effectively assume the obligations of the retiring L/C Issuer with respect to such Letters of Credit.
9.07Non-Reliance on Administrative Agent and Other Lenders.  Each Lender and the L/C Issuer acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement.  Each Lender and each L/C Issuer also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or Collateral Document or any related agreement or any document furnished hereunder or thereunder.  Each Lender and each L/C Issuer represents and warrants that (i) the Loan Documents set forth the terms of a commercial lending facility and certain other facilities set forth herein and (ii) it is engaged in making, acquiring or holding commercial loans, issuing or participating in letters of credit or providing other similar facilities in the ordinary course and is entering into this Agreement as a Lender or L/C Issuer for the purpose of making, acquiring or holding commercial loans, issuing or participating in letters of credit and providing other facilities set forth herein as may be applicable to such Lender or L/C Issuer, and not for the purpose of purchasing, acquiring or holding any other type of financial instrument, and each Lender and each L/C Issuer agrees not to assert a claim in contravention of the foregoing. Each Lender and each L/C Issuer represents and warrants that it is sophisticated with respect to decisions to make, acquire or hold commercial loans, issue or participate in letters of credit and to provide other facilities set forth herein, as may be applicable to such Lender or such L/C Issuer, and either it, or the Person exercising discretion in making its decision to make, acquire or hold such commercial loans, issue or participate in letters of credit or to provide such other facilities, is experienced in making, acquiring or holding such commercial loans, issue or participate in letters of credit or providing such other facilities.
9.08No Other Duties, Etc.  Anything herein to the contrary notwithstanding, none of the Arranger, arrangers, bookrunners, syndication agents, documentation agents or co-agents, if any, shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents or Collateral Documents, except in its capacity, as applicable, as the Administrative Agent, a Lender or an L/C Issuer hereunder.
9.09Administrative Agent May File Proofs of Claim.  In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to the Borrower, the Administrative Agent (irrespective of whether the principal of any Loan or L/C 
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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 (but not obligated), 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, L/C 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 Lenders, the L/C Issuers and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders, the L/C Issuers and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders, the L/C Issuers and the Administrative Agent under Sections 2.03(h) and (i), 2.09 and 10.04) 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 Lender and each L/C Issuer to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders and the L/C Issuers, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under Sections 2.09 and 10.04.
Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any Lender or any L/C Issuer any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or any L/C Issuer to authorize the Administrative Agent to vote in respect of the claim of any Lender or any L/C Issuer in any such proceeding.
9.10Administrative Agent to Hold Note.  Each Lender acknowledges that the Administrative Agent will be the Holder (as defined in the Indenture) of the Secured Note for the benefit of each of the Lenders.
9.11Certain ERISA Matters.
(a)Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower, that at least one of the following is and will be true:
(i)such Lender is not using “plan assets” (within the meaning of Section 3(42) of ERISA or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) of one or more Benefit Plans with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Commitments or this Agreement,
(ii)the prohibited transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions 
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determined by in-house asset managers), is applicable so as to exempt from the prohibitions of Section 406 of ERISA and Section 4975 of the Code such Lender’s entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement,
(iii)(A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and perform the Loans, the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement satisfies the requirements of sub-sections (b) through (g) of Part I of PTE 84- 14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement, or
(iv)such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion, and such Lender.
(b)In addition, unless either (1) sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or (2) a Lender has provided another representation, warranty and covenant in accordance with sub-clause (iv) in the immediately preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower, that the Administrative Agent is not a fiduciary with respect to the assets of such Lender involved in such Lender’s entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related hereto or thereto).
(c)The Administrative Agent and the Arranger hereby inform the Lenders that each such Person is not undertaking to provide impartial investment advice, or to give advice in a fiduciary capacity, in connection with the transactions contemplated hereby, and that such Person has a financial interest in the transactions contemplated hereby in that such Person or an Affiliate thereof (i) may receive interest or other payments with respect to the Loans, the Letters of Credit, the Commitments and this Agreement, (ii) may recognize a gain if it extended the Loans, the Letters of Credit or the Commitments for an amount less than the amount being paid for an interest in the Loans, the Letters of Credit or the Commitments by such Lender, or (iii) may receive fees or other payments in connection with the transactions contemplated hereby, the Loan Documents or otherwise, including structuring fees, commitment fees, arrangement fees, facility fees, upfront fees, underwriting fees, ticking fees, agency fees, administrative agent or collateral agent fees, utilization fees, minimum usage fees, letter of credit fees, fronting fees, deal-away or alternate transaction fees, amendment fees, processing fees, term out premiums, banker’s acceptance fees, breakage or other early termination fees or fees similar to the foregoing.
9.12Erroneous Payments.
(a)If the Administrative Agent notifies a Lender or Issuing Lender, or any Person who has received funds on behalf of a Lender or Issuing Lender (any such Lender or Issuing Lender, or other recipient, a “Payment Recipient”) that the Administrative Agent has determined in its sole discretion (whether or not after receipt of any notice under immediately 
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succeeding clause (b)) that any funds received by such Payment Recipient from the Administrative Agent or any of its Affiliates were erroneously transmitted to, or otherwise erroneously or mistakenly received by, such Payment Recipient (whether or not known to such Lender or Issuing Lender or other Payment Recipient on its behalf)  (any such funds, whether received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise, individually and collectively, an “Erroneous Payment”) and demands the return of such Erroneous Payment (or a portion thereof), such Erroneous Payment shall at all times remain the property of the Administrative Agent and shall be segregated by the Payment Recipient and held in trust for the benefit of the Administrative Agent, and such Lender or Issuing Lender shall (or, with respect to any Payment Recipient who received such funds on its behalf, shall cause such Payment Recipient to) promptly, but in no event later than two Business Days thereafter, return to the Administrative Agent the amount of any such Erroneous Payment (or portion thereof) as to which such a demand was made, in same day funds (in the currency so received), together with interest thereon in respect of each day from and including the date such Erroneous Payment (or portion thereof) was received by such Payment Recipient to the date such amount is repaid to the Administrative Agent in same day funds at the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation from time to time in effect. A notice of the Administrative Agent to any Payment Recipient under this clause (a) shall be conclusive, absent manifest error.
(b)Without limiting immediately preceding clause (a), each Lender or Issuing Lender, or any Person who has received funds on behalf of a Lender, or Issuing Lender such Lender or Issuing Lender, hereby further agrees that if it receives a payment, prepayment or repayment (whether received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise) from the Administrative Agent (or any of its Affiliates) (x) that is in a different amount than, or on a different date from, that specified in a notice of payment, prepayment or repayment sent by the Administrative Agent (or any of its Affiliates) with respect to such payment, prepayment or repayment, (y) that was not preceded or accompanied by a notice of payment, prepayment or repayment sent by the Administrative Agent (or any of its Affiliates), or (z) that such Lender or Issuing Lender, or other such recipient, otherwise becomes aware was transmitted, or received, in error or by mistake (in whole or in part) in each case:
(i)(A) in the case of immediately preceding clauses (x) or (y), an error shall be presumed to have been made (absent written confirmation from the Administrative Agent to the contrary) or (B) an error has been made (in the case of immediately preceding clause (z)), in each case, with respect to such payment, prepayment or repayment; and
(ii)such Lender or Issuing Lender shall (and shall cause any other recipient that receives funds on its respective behalf to) promptly (and, in all events, within one Business Day of its knowledge of such error) notify the Administrative Agent of its receipt of such payment, prepayment or repayment, the details thereof (in reasonable detail) and that it is so notifying the Administrative Agent pursuant to this Section 8.12(b).
(c)Each Lender or Issuing Lender hereby authorizes the Administrative Agent to set off, net and apply any and all amounts at any time owing to such Lender or Issuing Lender under any Loan Document, or otherwise payable or distributable by the Administrative Agent to such Lender or Issuing Lender from any source, against any amount due to the Administrative Agent under immediately preceding clause (a) or under the indemnification provisions of this Agreement.
(d)In the event that an Erroneous Payment (or portion thereof) is not recovered by the Administrative Agent for any reason, after demand therefor by the Administrative Agent in 
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accordance with immediately preceding clause (a), from any Lender or Issuing Lender that has received such Erroneous Payment (or portion thereof) (and/or from any Payment Recipient who received such Erroneous Payment (or portion thereof) on its respective behalf)  (such unrecovered amount, an “Erroneous Payment Return Deficiency”), upon the Administrative Agent’s notice to such Lender or Issuing Lender at any time, (i) such Lender or Issuing Lender shall be deemed to have assigned its Loans (but not its Commitments) of the relevant Class with respect to which such Erroneous Payment was made (the “Erroneous Payment Impacted Class”) in an amount equal to the Erroneous Payment Return Deficiency (or such lesser amount as the Administrative Agent may specify) (such assignment of the Loans (but not Commitments) of the Erroneous Payment  Impacted Class, the “Erroneous Payment Deficiency Assignment”) at par plus any accrued and unpaid interest (with the assignment fee to be waived by the Administrative Agent in such instance), and is hereby (together with the Borrower) deemed to execute and deliver an Assignment and Assumption with respect to such Erroneous Payment Deficiency Assignment, and such Lender or Issuing Lender shall deliver any Notes evidencing such Loans to the Borrower or the Administrative Agent, (ii) the Administrative Agent as the assignee Lender shall be deemed to acquire the Erroneous Payment Deficiency Assignment, (iii) upon such deemed acquisition, the Administrative Agent as the assignee Lender shall become a Lender or Issuing Lender, as applicable, hereunder with respect to such Erroneous Payment Deficiency Assignment and the assigning Lender or assigning Issuing Lender shall cease to be a Lender or Issuing Lender, as applicable, hereunder with respect to such Erroneous Payment Deficiency Assignment, excluding, for the avoidance of doubt, its obligations under the indemnification provisions of this Agreement and its applicable Commitments which shall survive as to such assigning Lender or assigning Issuing Lender and (iv) the Administrative Agent may reflect in the Register its ownership interest in the Loans subject to the Erroneous Payment Deficiency Assignment. The Administrative Agent may, in its discretion, sell any Loans acquired pursuant to an Erroneous Payment Deficiency Assignment in accordance with the terms of this Agreement and upon receipt of the proceeds of such sale, the Erroneous Payment Return Deficiency owing by the applicable Lender or Issuing Lender shall be reduced by the net proceeds of the sale of such Loan (or portion thereof), and the Administrative Agent shall retain all other rights, remedies and claims against such Lender or Issuing Lender (and/or against any recipient that receives funds on its respective behalf). For the avoidance of doubt, no Erroneous Payment Deficiency Assignment will reduce the Commitments of any Lender or Issuing Lender and such Commitments shall remain available in accordance with the terms of this Agreement.  In addition, each party hereto agrees that, except to the extent that the Administrative Agent has sold a Loan (or portion thereof) acquired pursuant to an Erroneous Payment Deficiency Assignment, and irrespective of whether the Administrative Agent may be equitably subrogated, the Administrative Agent shall be contractually subrogated to all the rights and interests of the applicable Lender or Issuing Lender under the Loan Documents with respect to each Erroneous Payment Return Deficiency (the “Erroneous Payment Subrogation Rights”).
(e)The parties hereto agree that an Erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any obligations under this Agreement owed by the Borrower, except, in each case, to the extent such Erroneous Payment is, and solely with respect to the amount of such Erroneous Payment that is, comprised of the funds received by the Administrative Agent from the Borrower for the purpose of making a payment or prepayment of the obligations under this Agreement. 
(f)To the extent permitted by applicable law, no Payment Recipient shall assert any right or claim to an Erroneous Payment, and hereby waives, and is deemed to waive, any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand, claim or counterclaim by the Administrative Agent for the return of any Erroneous Payment received, including without limitation waiver of any defense based on “discharge for value” or any similar doctrine.
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(g)Each party’s obligations, agreements and waivers under this Section 9.12 shall survive the resignation or replacement of the Administrative Agent, any transfer of rights or obligations by, or the replacement of, a Lender or Issuing Lender, the termination of the Commitments and/or the repayment, satisfaction or discharge of all Obligations (or any portion thereof) under any Loan Document.
ARTICLE X.
MISCELLANEOUS
10.01Amendments, Etc.  No amendment or waiver of any provision of any Loan Document, and no consent to any departure by the Borrower therefrom, shall be effective unless in writing signed by the Required Lenders and the Borrower, as the case may be, and acknowledged by the Administrative Agent, and each such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided that no such amendment, waiver or consent shall:
(a)waive any condition set forth in Section 4.01(a) without the written consent of each Lender;
(b)extend or increase the Commitment of any Lender (or reinstate any Commitment terminated pursuant to Section 8.02) without the written consent of such Lender;
(c)postpone any date fixed by any Loan Document for any payment of principal, interest, fees or other amounts due to the Lenders (or any of them) hereunder or under any other Loan Document without the written consent of each Lender directly affected thereby;
(d)reduce the principal of, or the rate of interest specified herein on, any Loan or L/C Borrowing, or (subject to clause (iv) of the second proviso to this Section 10.01) any fees or other amounts payable hereunder or under any other Loan Document without the written consent of each Lender directly affected thereby; provided that only the consent of the Required Lenders shall be necessary (i) to amend the definition of “Default Rate” or to waive any obligation of the Borrower to pay interest or Letter of Credit Fees at the Default Rate (ii) to amend any financial covenant hereunder (or any defined term used therein) even if the effect of such amendment would be to reduce the rate of interest on any Loan or L/C Borrowing or to reduce any fee payable hereunder, or (iii) for an ESG Amendment, including any modifications of the ESG Pricing Provisions, pursuant to Section 2.19 (other than any modifications to the maximum adjustment cap of 1.00 basis points in the Applicable Rate for the Commitment Fee and 5.00 basis points in the Applicable Rate for Base Rate Loans, SOFR Loans, or Letter of Credit Fee listed in Section 2.19, which shall require consent from each Lender directly affected thereby);
(e)change Section 2.13 or 8.03 in a manner that would alter the pro rata sharing of payments required thereby without the written consent of each Lender;
(f)change any provision of this Section or the definition of “Required Lenders” or any other provision hereof specifying the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or make any determination or grant any consent hereunder without the written consent of each Lender;
(g)release all or substantially all of the Collateral in any transaction or series of related transactions, without the written consent of each Lender; or
(h)approve any amendment or waiver under the Indenture that, if such an amendment or waiver was made under this Agreement would require the written consent of each Lender pursuant to this Section 10.01, without the written consent of each Lender;
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and provided, further, that (i) no amendment, waiver or consent shall, unless in writing and signed by the applicable L/C Issuer in addition to the Lenders required above, affect the rights or duties of any L/C Issuer under this Agreement or any Issuer Document relating to any Letter of Credit issued or to be issued by it; (ii) no amendment, waiver or consent shall, unless in writing and signed by the Swing Line Lender in addition to the Lenders required above, affect the rights or duties of the Swing Line Lender under this Agreement; (iii) no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders required above, affect the rights or duties of the Administrative Agent under any Loan Document; (iv) the Fee Letter may be amended, or rights or privileges thereunder waived, in a writing executed only by the parties thereto.  Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or consent which by its terms requires the consent of all Lenders or each affected Lender may be effected with the consent of the applicable Lenders other than Defaulting Lenders), except that (x) the Commitment of any Defaulting Lender may not be increased or extended without the consent of such Lender and (y) any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender that by its terms affects any Defaulting Lender more adversely than other affected Lenders shall require the consent of such Defaulting Lender.  Notwithstanding anything to the contrary herein, the Administrative Agent shall only exercise any voting rights as a Holder under the Indenture at the direction of the Required Lenders or all Lenders, as applicable, in accordance with this Section 10.01.
10.02Notices; Effectiveness; Electronic Communication.
(a)Notices Generally.  Except in the case of notices and other communications expressly permitted to be given by telephone (and except as provided in clause (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by facsimile as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows:
(i)if to the Borrower, the Administrative Agent, an L/C Issuer or the Swing Line Lender, to the address, facsimile number, electronic mail address or telephone number specified for such Person on Schedule 10.02; and
(ii)if to any other Lender, to the address, facsimile number, electronic mail address or telephone number specified in its Administrative Questionnaire (including, as appropriate, notices delivered solely to the Person designated by a Lender on its Administrative Questionnaire then in effect for the delivery of notices that may contain material non-public information relating to the Borrower).
Notices and other communications sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices and other communications sent by facsimile shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next business day for the recipient).  Notices and other communications delivered through electronic communications to the extent provided in clause (b) below, shall be effective as provided in such clause (b).
(b)Electronic Communications.  Notices and other communications to the Lenders and the L/C Issuers hereunder may be delivered or furnished by electronic communication (including e-mail) pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply to notices to any Lender or any L/C Issuer pursuant to Article II if such Lender or such L/C Issuer, as applicable, has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication.  The 
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Administrative Agent, the Swing Line Lender, an L/C Issuer or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it; provided that approval of such procedures may be limited to particular notices or communications.
Unless the Administrative Agent otherwise prescribes, notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement); provided that if such notice, email or other communication is not sent during the normal business hours of the recipient, such notice, email or communication shall be deemed to have been sent at the opening of business on the next business day for the recipient.
(c)The Platform.  THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.”  THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS.  NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM.  In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to the Borrower, any Lender, any L/C Issuer or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of the Borrower’s or the Administrative Agent’s transmission of Borrower Materials through the Internet, except to the extent that such losses, claims, damages, liabilities or expenses are determined by a court of competent jurisdiction by a final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Agent Party; provided that in no event shall any Agent Party have any liability to the Borrower, any Lender, any L/C Issuer or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct or actual damages).
(d)Change of Address, Etc.  Each of the Borrower, the Administrative Agent, each L/C Issuer and the Swing Line Lender may change its address, facsimile or telephone number for notices and other communications hereunder by notice to the other parties hereto.  Each other Lender may change its address, facsimile or telephone number for notices and other communications hereunder by notice to the Borrower, the Administrative Agent, the L/C Issuers and the Swing Line Lender.  In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that the Administrative Agent has on record (i) an effective address, contact name, telephone number, facsimile number and electronic mail address to which notices and other communications may be sent and (ii) accurate wire instructions for such Lender.  Furthermore, each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times have selected the “Private Side Information” or similar designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance procedures and applicable Law, including United States Federal and state securities laws, to make reference to Borrower Materials that are not made available through the “Public Side Information” portion of the Platform and that may contain material non-public information with respect to the Borrower or its securities for purposes of United States Federal or state securities laws.
(e)Reliance by Administrative Agent, L/C Issuers and Lenders.  The Administrative Agent, the L/C Issuers and the Lenders shall be entitled to rely and act upon any notices 
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(including telephonic Committed Loan Notices and Swing Line Loan Notices) purportedly given by or on behalf of the Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof.  The Borrower shall indemnify the Administrative Agent, each L/C Issuer, each Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of the Borrower.  All telephonic notices to and other telephonic communications with the Administrative Agent may be recorded by the Administrative Agent, and each of the parties hereto hereby consents to such recording.
10.03No Waiver; Cumulative Remedies; Enforcement.  No failure by any Lender, any L/C Issuer or the Administrative Agent to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.  The rights, remedies, powers and privileges herein provided are cumulative and not exclusive of any rights, remedies, powers and privileges provided by Law.
Notwithstanding anything to the contrary contained herein or in any other Loan Document or Collateral Document, the authority to enforce rights and remedies hereunder and under the other Loan Documents and Collateral Documents against the Borrower or any of them shall be vested exclusively in, and all actions and proceedings at Law in connection with such enforcement shall be instituted and maintained exclusively by, the Administrative Agent in accordance with Section 8.02 for the benefit of all the Lenders and the L/C Issuers; provided that the foregoing shall not prohibit (a) the Administrative Agent from exercising on its own behalf the rights and remedies that inure to its benefit (solely in its capacity as Administrative Agent) hereunder and under the other Loan Documents and Collateral Documents, (b) the L/C Issuers or the Swing Line Lender from exercising the rights and remedies that inure to its benefit (solely in its capacity as L/C Issuer or Swing Line Lender, as the case may be) hereunder and under the other Loan Documents and Collateral Documents, (c) any Lender from exercising setoff rights in accordance with Section 10.08 (subject to the terms of Section 2.13), or (d) any Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the pendency of a proceeding relative to the Borrower under any Debtor Relief Law; and provided, further, that if at any time there is no Person acting as Administrative Agent hereunder and under the other Loan Documents and Collateral Documents, then (i) the Required Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant to Section 8.02 and (ii) in addition to the matters set forth in clauses (b), (c) and (d) of the preceding proviso and subject to Section 2.13, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and as authorized by the Required Lenders.
10.04Expenses; Indemnity; Damage Waiver.
(a)Costs and Expenses.  The Borrower shall pay (i) all reasonable out-of-pocket expenses incurred by the Administrative Agent and its Affiliates (including the reasonable fees, charges and disbursements of counsel for the Administrative Agent), in connection with the syndication of the credit facilities provided for herein, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents and Collateral Documents or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses incurred by the L/C Issuers in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all out-of-pocket expenses incurred by the Administrative Agent, any Lender or the L/C Issuers (including the fees, charges and disbursements of any counsel for the Administrative Agent, any Lender or an L/C Issuer) in connection with the enforcement or protection of its 
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rights (A) in connection with this Agreement and the other Loan Documents and Collateral Documents, including its rights under this Section, or (B) in connection with the Loans made or Letters of Credit issued hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit.
(b)Indemnification by the Borrower.  The Borrower shall indemnify the Administrative Agent (and any sub-agent thereof), each Lender and each L/C Issuer, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses (including the fees, charges and disbursements of any counsel for any Indemnitee) incurred by any Indemnitee or asserted against any Indemnitee by any third party or by the Borrower arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or Collateral Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder, the consummation of the transactions contemplated hereby or thereby, or, in the case of the Administrative Agent (and any sub-agent thereof) and its Related Parties only, the administration of this Agreement and the other Loan Documents and Collateral Documents (including in respect of any matters addressed in Section 3.01), (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by an L/C Issuer to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or Release of Hazardous Materials on or from any property owned or operated by the Borrower or any of its Subsidiaries, or any Environmental Liability related in any way to the Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, and regardless of whether any Indemnitee is a party thereto, IN ALL CASES, WHETHER OR NOT CAUSED BY OR ARISING, IN WHOLE OR IN PART, OUT OF THE COMPARATIVE, CONTRIBUTORY OR SOLE NEGLIGENCE OF THE INDEMNITEE; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses (x) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee or (y) result from a claim brought by the Borrower against an Indemnitee for material breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document or Collateral Document, if the Borrower has obtained a final and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction.
(c)Reimbursement by Lenders.  To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under clause (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), an L/C Issuer, the Swing Line Lender or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such L/C Issuer, the Swing Line Lender or such Related Party, as the case may be, such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent) or an L/C Issuer or the Swing Line Lender in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), an L/C Issuer or the Swing Line Lender in connection with such capacity.  The obligations of the Lenders under this clause (c) are subject to the provisions of Section 2.12(d).
(d)Waiver of Consequential Damages, Etc.  To the fullest extent permitted by applicable Law, the Borrower shall not assert, and hereby waives, any claim against any 
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Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof.  No Indemnitee referred to in clause (b) above shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed to such unintended recipients by such Indemnitee through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby other than for direct or actual damages resulting from the gross negligence or willful misconduct of such Indemnitee as determined by a final and nonappealable judgment of a court of competent jurisdiction.
(e)Payments.  All amounts due under this Section 10.04 shall be payable not later than ten Business Days after demand therefor.
(f)Survival.  The agreements in this Section shall survive the resignation of the Administrative Agent, an L/C Issuer and the Swing Line Lender, the replacement of any Lender, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations.
10.05Payments Set Aside.  To the extent that any payment by or on behalf of the Borrower is made to the Administrative Agent, an L/C Issuer or any Lender, or the Administrative Agent, an L/C Issuer or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent, such L/C Issuer or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred, and (b) each Lender and each L/C Issuer severally agrees to pay to the Administrative Agent upon demand its applicable share (without duplication) of any amount so recovered from or repaid by the Administrative Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the greater of the Federal Funds Rate from time to time in effect and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation.  The obligations of the Lenders and the L/C Issuers under clause (b) of the preceding sentence shall survive the payment in full of the Obligations and the termination of this Agreement.
10.06Successors and Assigns.
(a)Successors and Assigns Generally.  The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except that the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of clause (b) of this Section, (ii) by way of participation in accordance with the provisions of clause (d) of this Section, or (iii) by way of pledge or assignment of a security interest subject to the restrictions of clause (g) of this Section (and any other attempted assignment or transfer by any party hereto shall be null and void).  Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in clause (d) of this Section and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, 
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the L/C Issuers and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.
(b)Assignments by Lenders.  Any Lender may at any time assign to one or more assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans (including for purposes of this clause (b), participations in L/C Obligations and in Swing Line Loans) at the time owing to it); provided that any such assignment shall be subject to the following conditions:
(i)Minimum Amounts.
(A)in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans at the time owing to it or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and
(B)in any case not described in clause (b)(i)(A) of this Section, the aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of the Loans of the assigning Lender subject to each such assignment, determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date, shall not be less than $10,000,000 or a whole multiple of $1,000,000 in excess thereof unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed); provided that concurrent assignments to members of an Assignee Group and concurrent assignments from members of an Assignee Group to a single Eligible Assignee (or to an Eligible Assignee and members of its Assignee Group) will be treated as a single assignment for purposes of determining whether such minimum amount has been met.
(ii)Proportionate Amounts.  Each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Loans or the Commitment assigned, except that this clause (ii) shall not apply to the Swing Line Lender’s rights and obligations in respect of Swing Line Loans;
(iii)Required Consents.  No consent shall be required for any assignment except to the extent required by clause (b)(i)(B) of this Section and, in addition:
(A)the consent of the Borrower (such consent not to be unreasonably withheld or delayed) shall be required unless (1) an Event of Default has occurred and is continuing at the time of such assignment or (2) such assignment is to a Lender, or an Affiliate of a Lender; provided that the Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Administrative Agent within five Business Days after having received notice thereof;
(B)the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required if such assignment is to a Person that is not a Lender or an Affiliate of such Lender;
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(C)the consent of the L/C Issuers (such consent not to be unreasonably withheld or delayed) shall be required for any assignment (i) to an assignee not then a Lender or (ii) that increases the obligation of the assignee that is then a Lender to participate in exposure under one or more Letters of Credit (whether or not then outstanding); and
(D)the consent of the Swing Line Lender (such consent not to be unreasonably withheld or delayed) shall be required for any assignment.
(iv)Assignment and Assumption.  The parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee in the amount of $3,500; provided that the Administrative Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any assignment.  The assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire.
(v)No Assignment to Certain Persons.  No such assignment shall be made (A) to the Borrower or any of the Borrower’s Affiliates or Subsidiaries, or (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (B), or (C) to a natural person (or holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural person).
(vi)Certain Additional Payments.  In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent, each L/C Issuer, the Swing Line Lender and each other Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate) its full pro rata share of all Loans and participations in Letters of Credit and Swing Line Loans in accordance with its Applicable Percentage.  Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable Law without compliance with the provisions of this clause, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs.
Subject to acceptance and recording thereof by the Administrative Agent pursuant to clause (c) of this Section, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 3.01, 3.04, 3.05, and 10.04 with respect to facts and circumstances occurring prior to the effective date of such assignment; provided that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting 
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Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender.  Upon request, the Borrower (at its expense) shall execute and deliver a Note to the assignee Lender.  Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this clause (c) shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with clause (d) of this Section.
(c)Register.  The Administrative Agent, acting solely for this purpose as an agent of the Borrower (and such agency being solely for Tax purposes), shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts of (and stated interest on) the Loans and L/C Obligations owing to, each Lender pursuant to the terms hereof from time to time (the “Register”).  The entries in the Register shall be conclusive absent manifest error, and the Borrower, the Administrative Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary.  In addition, the Administrative Agent shall maintain on the Register information regarding the designation, and revocation of designation, of any Lender as a Defaulting Lender.  The Register shall be available for inspection by the Borrower and any Lender, at any reasonable time and from time to time upon reasonable prior notice.
(d)Participations Generally.  Any Lender may at any time, without the consent of, or notice to, any Borrower or the Administrative Agent, sell participations to any Person (other than a natural person (or holding company, investment vehicle or trust for, or owned and operated for, the primary benefit of a natural person), a Defaulting Lender, Borrower or any of Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans (including such Lender’s participations in L/C Obligations and/or Swing Line Loans) owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the Administrative Agent, the Lenders and the L/C Issuers shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement.  For the avoidance of doubt, each Lender shall be responsible for the indemnity under Section 10.04(d) with respect to any payments made by such Lender to its Participants.  Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in the first proviso to Section 10.01 that affects such Participant.  Subject to clause (f) of this Section, each Borrower agrees that each Participant shall be entitled to the benefits of Sections 3.01, 3.04 and 3.05 (subject to the requirements and limitations therein, including the requirements under Section 3.01(e) (it being understood that the documentation required under Section 3.01(e) shall be delivered to the participating Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to clause (b) of this Section; provided that such Participant (A) agrees to be subject to the provisions of Section 3.06 as if it were an assignee under clause (b) of this Section; and (B) shall not be entitled to receive any greater payment under Sections 3.01 or 3.04, with respect to any participation, than its participating Lender would have been entitled to receive, except to the extent such entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired the applicable participation.  A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 3.01 unless Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrowers, to comply with Section 3.01(f) as though it were a Lender.  To the extent permitted 
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by Law, each Participant also shall be entitled to the benefits of Section 10.08 as though it were a Lender; provided that such Participant agrees to be subject to Section 2.13 as though it were a Lender.  Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register to any Person (including the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Loan Document) except to the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations.  The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary.
(e)Notwithstanding anything in this Section 10.06 to the contrary, any institution that is a Farm Credit Lender that (i) has purchased a participation in the minimum aggregate amount of $15,000,000 on or after the Closing Date, (ii) is, by written notice to the Borrower and the Administrative Agent (“Voting Participant Notification”), designated by the assigning Lender (including any existing Voting Participant) as being entitled to be accorded the rights of a Voting Participant hereunder and (iii) receives the prior written consent of the Borrower and the Administrative Agent to become a Voting Participant (such consent of the Borrower or the Administrative Agent to be required only to the extent and under the circumstances it would be required if such Voting Participant were to become a Lender pursuant to an assignment in accordance with Section 10.06(b)) (any such Farm Credit Lender so designated and consented to being called a “Voting Participant”), shall be entitled to vote for so long as such Farm Credit Lender owns such participation and notwithstanding any subparticipation by such Farm Credit Lender (and the voting rights of the assigning Lender (including any existing Voting Participant) shall be correspondingly reduced), on a dollar for dollar basis, as if such participant were a Lender, on any matter requiring or allowing a Lender to provide or withhold its consent, or to otherwise vote on any proposed action.  To be effective, each Voting Participant Notification shall, with respect to any Voting Participant, (x) state the full name, as well as all contact information required of an assignee in an Assignment and Assumption and (y) state the dollar amount of the participation purchased in its Commitment or any or all of its Loans.  Notwithstanding the foregoing, each Farm Credit Lender designated as a Voting Participant on Schedule 10.06(e) hereto shall be deemed a Voting Participant without delivery of a Voting Participant Notification and without the prior written consent of the Borrower or the Administrative Agent.  The assigning Lender (including any existing Voting Participant) and the purchasing Voting Participant shall notify the Administrative Agent and the Borrower within three Business Days’ of any termination of, or reduction or increase in the amount of, such participation.  The Borrower and the Administrative Agent shall be entitled to conclusively rely on information contained in notices delivered pursuant to this clause.  The voting rights hereunder are solely for the benefit of the Voting Participant and shall not inure to any assignee or participant of the Voting Participant that is not a Farm Credit Lender.
(f)Limitations upon Participant Rights.  A Participant shall not be entitled to receive any greater payment under Section 3.01 or 3.04 than the applicable Lender 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’s prior written consent.  A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 3.01 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 3.01(e) as though it were a Lender.
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(g)Certain Pledges.  Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.
(h)Resignation as L/C Issuer or Swing Line Lender after Assignment.  Notwithstanding anything to the contrary contained herein, if at any time a Lender who is an L/C Issuer or the Swing Line Lender assigns all of its Commitment and Loans pursuant to clause (b) above, (i) such L/C Issuer, may, upon 30 days’ notice to the Borrower and the Lenders, resign as L/C Issuer and/or (ii) such Swing Line Lender, may, upon 30 days’ notice to the Borrower, resign as Swing Line Lender.  In the event of any such resignation as L/C Issuer or Swing Line Lender, the Borrower shall be entitled to appoint from among the Lenders a successor L/C Issuer or Swing Line Lender hereunder; provided that such Lender’s consent to such appointment shall be required; and provided further that no failure by the Borrower to appoint any such successor shall affect the resignation of such Lender as L/C Issuer or Swing Line Lender, as the case may be.  If a Lender who is an L/C Issuer resigns as L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as L/C Issuer and all L/C Obligations with respect thereto (including the right to require the Lenders to make Base Rate Committed Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.03(c)).  If a Lender resigns as Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder with respect to Swing Line Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Lenders to make Base Rate Committed Loans or fund risk participations in outstanding Swing Line Loans pursuant to Section 2.04(c).  Upon the appointment of a successor L/C Issuer and/or Swing Line Lender, (x) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as the case may be, and (y) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to the previous L/C Issuer to effectively assume the obligations of the previous L/C Issuer with respect to such Letters of Credit.
10.07Treatment of Certain Information; Confidentiality.  Each of the Administrative Agent, the Lenders and the L/C Issuers agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its Related Parties (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent required or requested by, or required to be disclosed to, any rating agency or any regulatory or similar authority purporting to have jurisdiction over such Person or its Related Parties (including any self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the extent required by applicable Laws or regulations or by any subpoena or similar legal process, (d) to any other party hereto, (e) in connection with the exercise of any remedies hereunder or under any other Loan Document or Collateral Document or any action or proceeding relating to any Loan Document or Collateral Document or the enforcement of rights hereunder or thereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement or any Eligible Assignee invited to be a Lender pursuant to Section 2.14(c) or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to the Borrower and its obligations, (g) to the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers with respect to the credit facility provided for herein and in connection with the preparation and issuance of marketing press releases or other transactional announcements or updates provided to investor or 
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trade publications, in each case subject to confidentiality obligations or disclosure restrictions reasonably requested by the Borrower, (h) with the consent of the Borrower or (i) to the extent such Information (x) becomes publicly available other than as a result of a breach of this Section or (y) becomes available to the Administrative Agent, any Lender, any L/C Issuer or any of their respective Affiliates on a nonconfidential basis from a source other than the Borrower.  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 the foregoing, the Administrative Agent and the Lenders may disclose the existence of this Agreement and information about this Agreement to market data collectors, data service providers, league table providers and similar service providers to the lending industry.
For purposes of this Section, “Information” means all information received from the Borrower or any Subsidiary relating to the Borrower or any Subsidiary or any of their respective businesses, other than any such information that is available to the Administrative Agent, any Lender or any L/C Issuer on a nonconfidential basis prior to disclosure by the Borrower or any Subsidiary; provided that, in the case of information received from the Borrower or any Subsidiary after the date hereof, such information is clearly identified at the time of delivery as confidential.
Each of the Administrative Agent, the Lenders and the L/C Issuers acknowledges that (a) the Information may include material non-public information concerning the Borrower or a Subsidiary, as the case may be, (b) it has developed compliance procedures regarding the use of material non-public information and (c) it will handle such material non-public information in accordance with applicable Law, including United States Federal and state securities Laws.
10.08Right of Setoff.  If an Event of Default shall have occurred and be continuing, each Lender, each L/C Issuer and each of their respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable Law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held and other obligations (in whatever currency) at any time owing by such Lender, such L/C Issuer or any such Affiliate to or for the credit or the account of the Borrower against any and all of the obligations of the Borrower now or hereafter existing under any Loan Document to such Lender or such L/C Issuer, irrespective of whether or not such Lender or such L/C Issuer shall have made any demand under any Loan Document and although such obligations of the Borrower may be contingent or unmatured or are owed to a branch or office of such Lender or such L/C Issuer different from the branch or office holding such deposit or obligated on such indebtedness; provided that in the event that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of Section 2.16 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff.  The rights of each Lender, each L/C Issuer and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) that such Lender, such L/C Issuer or their respective Affiliates may have.  Each Lender and each L/C Issuer agrees to notify the Borrower and the Administrative Agent promptly after any such setoff and application; provided that the failure to give such notice shall not affect the validity of such setoff and application.
10.09Interest Rate Limitation.  Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”).  If the Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, 
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if it exceeds such unpaid principal, refunded to the Borrower.  In determining whether the interest contracted for, charged, or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a)  characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder.
10.10Counterparts; Integration; Effectiveness.  This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  This Agreement and the other Loan Documents and Collateral Documents constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof.  Except as provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto.  Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this Agreement.
10.11Survival of Representations and Warranties.  All representations and warranties made hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof.  Such representations and warranties have been or will be relied upon by the Administrative Agent and each Lender, regardless of any investigation made by the Administrative Agent or any Lender or on their behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of any Default at the time of any Credit Extension, and shall continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding.
10.12Severability.  If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions.  The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.  Without limiting the foregoing provisions of this Section 10.12, if and to the extent that the enforceability of any provisions in this Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in good faith by the Administrative Agent, the applicable L/C Issuer or the Swing Line Lender, as applicable, then such provisions shall be deemed to be in effect only to the extent not so limited.
10.13Replacement of Lenders.  If (i) any Lender requests compensation under Section 3.04, (ii) if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, (iii) the obligation of any Lender to make SOFR Loans has been suspended pursuant to Section 3.02, (iv) any Lender is a Defaulting Lender, (v) any Lender (a “Non-Consenting Lender”) does not consent to a proposed change, waiver, discharge or termination with respect to any Loan Document or Collateral Document that has been approved by the Required Lenders as provided in Section 10.01 but requires unanimous consent of all Lenders or all Lenders directly affected thereby (as applicable) or (vi) if any other circumstance exists hereunder that gives the Borrower the right to replace a Lender as a party hereto, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign 
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and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by, Section 10.06), all of its interests, rights and obligations under this Agreement and the related Loan Documents and Collateral Documents to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided that:
(a)the Borrower shall have paid to the Administrative Agent the assignment fee specified in Section 10.06(b);
(b)such Lender shall have received payment of an amount equal to 100% of the outstanding principal of its Loans and L/C Advances, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents and Collateral Documents (including any amounts under Section 3.05) from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts);
(c)in the case of any such assignment resulting from a claim for compensation under Section 3.04 or payments required to be made pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments thereafter;
(d)such assignment does not conflict with applicable Laws; and
(e)in the case of any such assignment resulting from a Non-Consenting Lender’s failure to consent to a proposed change, waiver, discharge or termination with respect to any Loan Document or Collateral Document, the applicable replacement bank, financial institution or Fund consents to the proposed change, waiver, discharge or termination; provided that the failure by such Non-Consenting Lender to execute and deliver an Assignment and Assumption shall not impair the validity of the removal of such Non-Consenting Lender and the mandatory assignment of such Non-Consenting Lender’s Commitments and outstanding Loans and participations in L/C Obligations and Swing Line Loans pursuant to this Section 10.13 shall nevertheless be effective without the execution by such Non-Consenting Lender of an Assignment and Assumption.
A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply.
Notwithstanding anything in this Section to the contrary, any Lender that acts as an L/C Issuer may not be replaced hereunder at any time it has any Letter of Credit outstanding hereunder unless arrangements satisfactory to such Lender (including the furnishing of a backstop standby letter of credit in form and substance, and issued by an issuer, reasonably satisfactory to such L/C Issuer or the depositing of cash collateral into a cash collateral account in amounts and pursuant to arrangements reasonably satisfactory to such L/C Issuer) have been made with respect to such outstanding Letter of Credit.
10.14Governing Law; Jurisdiction; Etc.
(a)GOVERNING LAW.  THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
(b)SUBMISSION TO JURISDICTION.  THE BORROWER IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY 
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THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT.  EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW.
(c)WAIVER OF VENUE.  THE BORROWER IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENT IN ANY COURT REFERRED TO IN CLAUSE (B) OF THIS SECTION.  EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT.
(d)SERVICE OF PROCESS.  EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 10.02.  NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.
10.15Waiver of Jury Trial.  EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).  EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.
10.16No Advisory or Fiduciary Responsibility.  In connection with all aspects of each transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document or Collateral Document), the Borrower acknowledges and agrees, and acknowledges its Affiliates’ understanding, that (a)(i) the arranging and other services regarding this Agreement provided by the Administrative Agent, the Arranger and the Lenders are arm’s-length commercial transactions among the Borrower and its Affiliates, on the one hand, and the Administrative Agent, the Arranger and the Lenders, on the other hand, (ii) the Borrower has consulted its own legal, accounting, regulatory and Tax advisors to the extent it has deemed appropriate, and (iii) the Borrower is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents and Collateral Documents; (b)(i) each of the Administrative Agent, the Arranger and the Lenders is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will 
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not be acting as an advisor, agent or fiduciary for the Borrower or any of its Affiliates, or any other Person, and (ii) none of the Administrative Agent, the Arranger or any Lender has transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents and Collateral Documents; and (iii) the Administrative Agent, the Arranger and the Lenders and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Borrower and its Affiliates, and none of the Administrative Agent, the Arranger or the Lenders has any obligation to disclose any of such interests to the Borrower or its Affiliates.  To the fullest extent permitted by Law, the Borrower hereby waives and releases any claims that it may have against the Administrative Agent, the Arranger and the Lenders with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby.
10.17Electronic Execution of Loan Documents and Certain Other Documents.  The words “execute,” “execution,” “signed,” “signature,” and words of like import in or related to any document to be signed in connection with this Agreement and the transactions contemplated hereby (including without limitation Assignment and Assumptions, amendments or other modifications, Committed Loan Notices, Swing Line Loan Notices, waivers and consents) shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the Administrative Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state Laws based on the Uniform Electronic Transactions Act; provided that notwithstanding anything contained herein to the contrary the Administrative Agent is under no obligation to agree to accept electronic signatures in any form or in any format unless expressly agreed to by the Administrative Agent pursuant to procedures approved by it.
10.18USA PATRIOT Act.  Each Lender that is subject to the Act (as hereinafter defined) and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Patriot Act”), it is required to obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower and other information that will allow such Lender or the Administrative Agent, as applicable, to identify the Borrower in accordance with the Act.  The Borrower shall, promptly following a request by the Administrative Agent or any Lender, provide all documentation and other information that the Administrative Agent or such Lender requests in order to comply with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations, including the Act.
10.19Time of the Essence.  Time is of the essence of the Loan Documents.
10.20Acknowledgement and Consent to Bail-In of Affected Financial Institutions.  Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Lender that is an Affected Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the Write-Down and Conversion Powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:
(a)the application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any Lender that is an Affected Financial Institution; and
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(b)the effects of any Bail-in Action on any such liability, including, if applicable:
(i)a reduction in full or in part or cancellation of any such liability;
(ii)a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such Affected Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under any Loan Document; or
(iii)the variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of the applicable Resolution Authority.
10.21Acknowledgement Regarding Any Supported QFCs.  To the extent that the Loan Documents provide support, through a guarantee or otherwise, for Swap Contracts or any other agreement or instrument that is a QFC (such support, “QFC Credit Support” and each such QFC a “Supported QFC”), the parties acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York or of the United States or any other state of the United States):
(a)In the event a Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the United States. 
10.22Advertising Materials.  The Borrower consents to the publication by the Administrative Agent or any Lender of customary advertising material relating to the transactions contemplated hereby using the name, product, photographs, logo or trademark of the Borrower. 
10.23ENTIRE AGREEMENT.  THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

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ARTICLE XI.
EXISTING CREDIT AGREEMENT
The Borrower, the Lenders and the Administrative Agent agree that, upon (i) the execution and delivery of this Agreement by each of the parties hereto and (ii) satisfaction (or waiver by the aforementioned parties) of the conditions precedent set forth in Section 4.01, the terms and provisions of the Existing Credit Agreement shall be and hereby are amended, superseded and restated in their entirety by the terms and provisions of this Agreement.  This Agreement is not intended to and shall not constitute a novation of the Existing Credit Agreement or the Indebtedness created thereunder.  The commitment of each Lender that is a party to the Existing Credit Agreement (excluding the Departing Lenders (as defined below), the “Continuing Lenders”) shall, on the Closing Date, automatically be deemed amended and the only commitments shall be those hereunder.  Without limiting the foregoing, upon the effectiveness hereof: (a) all loans and letters of credit incurred under the Existing Credit Agreement which are outstanding on the Closing Date shall continue as Loans and Letters of Credit under (and shall be governed by the terms of) this Agreement and the other Loan Documents, (b) all references in the “Loan Documents” (as defined in the Existing Credit Agreement) to the “Administrative Agent”, the “Credit Agreement” and the “Loan Documents” shall be deemed to refer to the Administrative Agent, this Agreement and the Loan Documents, (c) all obligations under the Existing Credit Agreement with any Continuing Lender or any Affiliate of any Continuing  Lender which are outstanding on the Closing Date shall continue as obligations under this Agreement and the other Loan Documents, and (d) the Administrative Agent shall make such reallocations, sales, assignments or other relevant actions in respect of each Continuing Lender’s credit and loan exposure under the Existing Credit Agreement as are necessary in order that each such Continuing Lender’s Credit Exposure hereunder reflects such Continuing  Lender’s ratable share of the aggregate Credit Exposures on the Closing Date, and, to the extent requested by any Continuing Lender, the Borrower hereby agrees to compensate such Continuing Lender for any and all losses, costs and expenses incurred by such Lender in connection with the sale and assignment of any SOFR Loans on the terms and in the manner set forth in Section 3.05 hereof.
In addition, MUFG Bank, Ltd., KeyBank National Association and Goldman Sachs Bank USA (collectively, the “Departing Lenders”, each being a “Departing Lender”) desires to assign all of its rights and obligations as a Lender under the Existing Credit Agreement to the Continuing Lenders and/or the incoming lenders that are not party to the Existing Credit Agreement (such incoming lenders, collectively, the “Incoming Lenders”, each being an “Incoming Lender”)), and to no longer be a party to the Existing Credit Agreement, all as of the Closing Date.  Each of the Administrative Agent, the Continuing Lenders, the Incoming Lenders and the Borrower hereby consents to (i) the reallocation of the Commitments as set forth herein and (ii) the Departing Lender’s assignment of its rights, interests, liabilities and obligations under the Existing Credit Agreement. On the Closing Date and after giving effect to such reallocation and assignment, the Commitment of the Departing Lender shall terminate, the Departing Lender shall cease to be a party to the Existing Credit Agreement and the Commitment of each Continuing Lender and Incoming Lender shall be as set forth on Schedule 2.01 attached to this Agreement.  Each Continuing Lender and Incoming Lender hereby consents to the Commitments set forth on Schedule 2.01 attached to this Amendment.  The reallocation of the aggregate Commitment among the Continuing Lenders and the Incoming Lenders, including the assignment by the Departing Lender of all of its respective rights, interests, liabilities and obligations under the Existing Credit Agreement to the Continuing Lenders and/or the Incoming Lenders, shall be deemed to have been consummated pursuant to the terms of the Assignment and Assumption attached as Exhibit E to the Existing Credit Agreement as if the Lenders, including the Departing Lender, had executed an Assignment and Assumption with respect to such reallocation and no other documents or instruments shall be, or shall be required to be, executed in connection with such assignments (all of which are hereby waived); provided after 
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giving effect to such reallocation, the Departing Lender shall receive on the Closing Date payment of an amount equal to the outstanding principal of its Loans and participations in Letters of Credit, accrued interest thereon, accrued fees and all other amounts payable to it under the Existing Credit Agreement and the other Loan Documents, including, without limitation, compensation for any and all losses, costs and expenses incurred by such Departing Lender in connection with the sale and assignment of any LIBOR Rate Loans (as defined in the Existing Credit Agreement) and such reallocation described above, in each case on the terms and in the manner set forth in Section 3.05 hereof.  The Administrative Agent hereby waives the $3,500 assignment fee set forth in Section 10.06(b)(iv) of the Existing Credit Agreement with respect to the assignments and reallocations contemplated by this Article XI.
[signature pages follow]
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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the date first above written.
TRI-STATE GENERATION AND
TRANSMISSION ASSOCIATION, INC.

By:  /s/ Patrick L. Bridges
Name:  Patrick L. Bridges
Title: Senior Vice President and Chief
Financial Officer

NATIONAL RURAL UTILITIES
COOPERATIVE FINANCE
CORPORATION, as
Administrative Agent, Sustainability Coordinator, a Lender, an L/C Issuer and the Swing Line Lender

By: /s/ Lisa Wang
Name: Lisa Wang
Title: Senior Vice President and Chief Financial Officer

U.S. BANK NATIONAL ASSOCIATION, as a Lender and an L/C Issuer

By: /s/ Kevin S. Murphy
Name: Kevin S. Murphy
Title: Vice President

WELLS FARGO BANK, N.A., as a Lender

By: /s/ Jason Pollack
Name: Jason Pollack
Title: Vice President

COBANK, ACB, as a Lender

By: /s/ Monica Morton
Name: Monica Morton
Title: Executive Director

JPMORGAN CHASE BANK, N.A., as a Lender

By: /s/ Heather Talbott
Name: Heather Talbott
Title: Executive Director

TRUIST BANK, as a Lender

By: /s/ Matthew Wyatt
Name: Matthew Wyatt
Title: Senior Vice President

BANK OF AMERICA, N.A., as a Lender

By: /s/ John Sletten
Name: John Sletten
Title: Senior Vice President

GOLDMAN SACHS BANK USA, as a Departing Lender

By: /s/ Jonathan Dworkin
Name: Jonathan Dworkin
Title: Authorized Signature

KEYBANK NATIONAL ASSOCIATION, as a Departing Lender

By: /s/ Benjamin C Cooper
Name: Benjamin C Cooper
Title: Senior Vice President

MUFG BANK, LTD., as a Departing Lender

By: /s/ Viet-Linh Fujitaki
Name: Viet-Linh Fujitaki
Title: Director

SCHEDULE 2.01
COMMITMENTS AND APPLICABLE PERCENTAGES

									
	Lender	Commitment	Applicable Percentage
	National Rural Utilities Cooperative Finance
Corporation
	$125,000,000	24.038461538%
	U.S. Bank National Association	$75,000,000	14.423076923%
	Wells Fargo Bank, N.A.	$75,000,000	14.423076923%
	CoBank, ACB	$75,000,000	14.423076923%
	JPMorgan Chase Bank, N.A.	$75,000,000	14.423076923%
	Truist Bank	$60,000,000	11.538461538%
	Bank of America, N.A.	$35,000,000	6.730769231%
	Total	$520,000,000	100.000000000%

4888-8104-2195.11

SCHEDULE 5.06
LITIGATION

None.
4888-8104-2195.11

SCHEDULE 5.10
ENVIRONMENTAL MATTERS

None.
4888-8104-2195.11

SCHEDULE 5.13(d)
PENSION PLANS

Certain of the Borrower’s employees participate in the National Rural Electric Cooperative Association Retirement and Security Program.  The Borrower contributes to the National Rural Electric Cooperative Association Retirement and Security Program on a monthly basis, in an amount that fluctuates from year to year.
4888-8104-2195.11

SCHEDULE 5.14
SUBSIDIARIES; EQUITY INTERESTS

PART A – SUBSIDIARIES
1.Springerville Unit 3 Partnership LP
Tri-State Generation and Transmission Association, Inc. – 1% general partnership interest and 50% limited partnership interest
2.Springerville Unit 3 OP LLC
Springerville Unit 3 Partnership LP – 100% membership interest
3.Springerville Unit 3 Holding LLC
Springerville Unit 3 OP LLC – 100% membership interest
4.Elk Ridge Mining and Reclamation, LLC
Tri-State Generation and Transmission Association, Inc. – 100% membership interest
5.Axial Basin Coal Company
Elk Ridge Mining and Reclamation, LLC – 100% ownership interest
6.Taylor Creek Holding Company
Elk Ridge Mining and Reclamation, LLC – 100% ownership interest
7.Colowyo Coal Company L.P.
Axial Basin Coal Company – 20% general partnership interest Taylor Creek Holding Company – 80% limited partnership interest
PART B – RESTRICTED SUBSIDIARIES
None
PART C – EQUITY INTERESTS
8.Patronage capital and equities allocated to the Borrower or its Subsidiaries from time to time by cooperatives with which the Borrower does business, including CoBank, other Farm Credit System institutions, CFC, Basin Electric Power Cooperative, Western Fuels-Wyoming Inc., most of the Members of the Borrower, Federated Insurance, Western United Electric Supply Corporation, and various telephone cooperatives.
9.Capital certificates purchased from time to time in CoBank and other Farm Credit System institutions and CFC, as required in connection with borrowings from CoBank, such Farm Credit institutions or CFC.
4888-8104-2195.11

SCHEDULE 5.19
INTELLECTUAL PROPERTY MATTERS

None
4888-8104-2195.11

SCHEDULE 5.20
SIGNIFICANT DEBT AGREEMENTS AND LIENS

Part A – Significant Debt Agreements
A.CFC Loan Agreements
1.CFC – Master Loan Agreement dated as of March 14, 1997*1
2.CFC -  Loan Agreement dated as of April 10, 1992, as amended*
3.CFC – Loan Agreement dated as of January 10, 1989, as amended*
4.CFC – Loan Agreement 9077 dated as of October 31, 2014
5.CFC – Loan Agreement 9078 dated as of October 31, 2014
6.CFC – Loan Agreement dated as of June 24, 2020
B.CoBank Loan Agreements
1.
2.Term Loan Agreement dated as of December 6, 2012
3.Unsecured Term Loan Agreement dated as of June 10, 2013
4.Term Loan Agreement dated as of October 31, 2014
5.Term Loan Agreement dated as of December 11, 2018
6.Term Loan Agreement dated as of June 24, 2020
C.Commercial Paper
1.Private Placement Memorandum dated as of May 11, 2021
D.First Mortgage Bonds
1.Purchase Agreement dated as of June 3, 2010
2.Purchase Agreement dated as of October 5, 2010
3.Purchase Agreement dated as of October 27, 2014
4.Purchase Agreement dated as of May 16, 2016

1 * Paid off and terminated after December 31, 2021 and prior to Closing Date.

E.Note Purchase Agreement
1.Note Purchase Agreement dated as of October 31, 2014
2.Note Purchase Agreement dated as of November 16, 2017
F.Revolving Credit Facility
1.Credit Agreement dated as of April 25, 2018 agented by National Rural Utilities Cooperative Finance Corporation .2
G.Springerville Bonds
1.Series B Pass Through Trust Agreement, dated as of October 21, 2003
2.Participation Agreement, dated as of October 21, 2003
									
	Liabilities	Outstanding Balance
($ in thousands)
December 31, 2021	Committed Amount Available
($ in thousands)
December 31, 2021
	CFC Term Loans	258,726	0
	CoBank Term Loans	501,202	0
	2014 Private Placement	750,000	0
	2017 Private Placement	120,000	0
	2010 First Mortgage Bonds	500,000	0
	2014 First Mortgage Bonds	494,714	0
	2016 First Mortgage Bonds	250,000	0
	2018 Revolving Credit Facility	0	600,000**

	Springerville Bonds	292,985	0
	Accounts Payable	105,965	0
	Short-term Borrowings	49,997	0
	Current Maturities of LTD	93,039	0
	Regulatory Liabilities	146,021	0
	Asset Retirement Obligations	83,278	0
	Other	78,319	0
	Total	$ 3,724,246	$ 600,000

** The portion of this facility that was unavailable as of December 31, 2021 was $50 million, which was dedicated to support outstanding commercial paper. 

2 To be amended and restated by this Agreement as of the Closing Date.

Part B - Liens
A.Master Indenture & Supplements
1.Master First Mortgage Indenture, Deed of Trust and Security Agreement – Amended, Restated and Effective as of December 15, 1999
2.Supplemental Master Mortgage Indenture No. 1 dated as of June 30, 2000
3.Supplemental Master Mortgage Indenture No. 2 dated as of June 30, 2000 and effective as of July 1, 2000
4.Supplemental Master Mortgage Indenture No. 3 dated as of December 13, 2000 and effective as of December 19, 2000
5.Supplemental Master Mortgage Indenture No. 4 dated as of May 15, 2001
6.Supplemental Master Mortgage Indenture No. 5 dated effective as of November 13, 2001
7.Supplemental Master Mortgage Indenture No. 6 dated effective as of April 22, 2002
8.Supplemental Master Mortgage Indenture No. 7 dated effective as of October 24, 2002
9.Supplemental Master Mortgage Indenture No. 8 dated effective as of December 27, 2002
10.Supplemental Master Mortgage Indenture No. 9 effective as of July 31, 2003
11.Supplemental Master Mortgage Indenture No. 10 effective as of March 30, 2004
12.Supplemental Master Mortgage Indenture No. 11 effective as of September 16, 2004
13.Supplemental Master Mortgage Indenture No. 12 effective as of July 12, 2005
14.Supplemental Master Mortgage Indenture No. 13 effective as of September 27, 2005
15.Supplemental Master Mortgage Indenture No. 14 effective as of June 8, 2006
16.Supplemental Master Mortgage Indenture No. 15 effective as of December 7, 2006
17.Supplemental Master Mortgage Indenture No. 16 effective as of May 4, 2007
18.Supplemental Master Mortgage Indenture No. 17 effective as of February 4, 2009
19.Supplemental Master Mortgage Indenture No. 18 effective as of April 8, 2009
20.Supplemental Master Mortgage Indenture No. 19 effective as of July 30, 2009

21.Supplemental Master Mortgage Indenture No. 20 effective as of July 30, 2009
22.Supplemental Master Mortgage Indenture No. 21 effective as of October 8, 2009
23.Supplemental Master Mortgage Indenture No. 22 effective as of January 5, 2010
24.Supplemental Master Mortgage Indenture No. 23 effective as of June 8, 2010
25.Supplemental Master Mortgage Indenture No. 24 effective as of October 8, 2010
26.Supplemental Master Mortgage Indenture No. 26 effective as of June 13, 2011
27.Supplemental Master Mortgage Indenture No. 27 effective as of July 29, 2011
28.Supplemental Master Mortgage Indenture No. 28 effective as of March 15, 2012
29.Supplemental Master Mortgage Indenture No. 29 effective as of December 6, 2012
30.Supplemental Master Mortgage Indenture No. 30 effective as of July 3, 2013
31.Supplemental Master Mortgage Indenture No. 31 effective as of November 20, 2013
32.Supplemental Master Mortgage Indenture No. 32 effective as of March 13, 2014
33.Supplemental Master Mortgage Indenture No. 33 effective as of October 17, 2014

34.Supplemental Master Mortgage Indenture No. 34 effective as of October 30, 2014
35.Supplemental Master Mortgage Indenture No. 35 effective as of October 31, 2014
36.Supplemental Master Mortgage Indenture No. 36 effective as of October 31, 2014
37.Supplemental Master Mortgage Indenture No. 37 effective as of October 31, 2014
38.Supplemental Master Mortgage Indenture No. 38 effective as of November 21, 2014
39.Supplemental Master Mortgage Indenture No. 39 effective as of May 23, 2016
40.Supplemental Master Mortgage Indenture No. 40 effective as of November 16, 2017
41.Supplemental Master Mortgage Indenture No. 41 effective as of April 25, 2018
42.Supplemental Master Mortgage Indenture No. 42 effective as of December 11, 2018
43.Supplemental Master Mortgage Indenture No. 43 effective as of June 24, 2020
44.Supplemental Master Mortgage Indenture No. 44 effective as of the Closing Date

B.Springerville Bonds    (Owner Lessor)
1.Indenture, Leasehold Deed of Trust, Assignment of Leases and Rents, Fixture Filing and Security Agreement, dated as of October 21, 2003; subject to compliance at all times with Sections 7.01 and 7.03
												
	Indebtedness	Outstanding Balance
($ in thousands)
as of the Closing Date	Committed Amount Available
($ in thousands)
as of the Closing Date
	CFC Term Loans	256,940	0	
	CoBank Term Loans	493,926	0	
				
	2014 Private Placement	750,000	0	
	2017 Private Placement	120,000	0	
	2010 First Mortgage Bonds	500,000	0	
	2014 First Mortgage Bonds	494,714	0	
	2016 First Mortgage Bonds	246,100	0	
				
	2018 Revolving Credit Facility	0	560,000***	
	Springerville Bonds	248,601	0	
	Total	$ 3,110,281	$ 560,000

*** This amount is based on the extent to which the “Aggregate Commitments” under the Existing Credit Agreement were dedicated to support the Borrower’s outstanding commercial paper as of five Business Days immediately prior to the Closing Date.

SCHEDULE 5.22
WHOLESALE POWER CONTRACTS

									
	Contract Name:	Date of Agreement:	Date of Expiration: **
	Big Horn Rural Electric Company	July 1, 2007	December 31, 2050
	Carbon Power & Light, Inc.	July 1, 2007	December 31, 2050
	Central New Mexico Electric Cooperative, Inc.	July 1, 2007	December 31, 2050
	Chimney Rock Public Power District	July 1, 2007	December 31, 2050
	Columbus Electric Cooperative, Inc.	July 1, 2007	December 31, 2050
	Continental Divide Electric Cooperative, Inc.	July 1, 2007	December 31, 2050
	Empire Electric Association, Inc.	July 1, 2007	December 31, 2050
	Garland Light & Power Co.	July 1, 2007	December 31, 2050
	Gunnison County Electric Association, Inc.	July 1, 2007	December 31, 2050
	High Plains Power, Inc.	July 1, 2007	December 31, 2050
	High West Energy, Inc.	July 1, 2007	December 31, 2050
	Highline Electric Association	July 1, 2007	December 31, 2050
	Jemez Mountains Electric Cooperative, Inc.	July 1, 2007	December 31, 2050
	K.C. Electric Association	July 1, 2007	December 31, 2050
	La Plata Electric Association, Inc.	July 1, 2007	December 31, 2050
	The Midwest Electric Cooperative Corporation	July 1, 2007	December 31, 2050
	Mora-San Miguel Electric Cooperative, Inc.	July 1, 2007	December 31, 2050
	Morgan County Rural Electric Association	July 1, 2007	December 31, 2050
	Mountain Parks Electric, Inc.	July 1, 2007	December 31, 2050
	Mountain View Electric Association, Inc.	July 1, 2007	December 31, 2050
	Niobrara Electric Association, Inc.	July 1, 2007	December 31, 2050
	Northern Rio Arriba Electric Cooperative, Inc.	July 1, 2007	December 31, 2050
	Northwest Rural Public Power District	July 1, 2007	December 31, 2050
	Otero County Electric Cooperative, Inc.	July 1, 2007	December 31, 2050
	Panhandle Rural Electric Membership Association	July 1, 2007	December 31, 2050
	Poudre Valley Rural Electric Association, Inc.	July 1, 2007	December 31, 2050
	Roosevelt Public Power District	July 1, 2007	December 31, 2050
	San Isabel Electric Association, Inc.	July 1, 2007	December 31, 2050

									
	San Luis Valley Rural Electric Cooperative, Inc.	July 1, 2007	December 31, 2050
	San Miguel Power Association, Inc.	July 1, 2007	December 31, 2050
	Sangre De Cristo Electric Association, Inc.	July 1, 2007	December 31, 2050
	Sierra Electric Cooperative, Inc.	July 1, 2007	December 31, 2050
	Socorro Electric Cooperative, Inc.	July 1, 2007	December 31, 2050
	Southeast Colorado Power Association	July 1, 2007	December 31, 2050
	Southwestern Electric Cooperative, Inc.	July 1, 2007	December 31, 2050
	Springer Electric Cooperative, Inc.	July 1, 2007	December 31, 2050
	United Power, Inc.	July 1, 2007	December 31, 2050
	Wheat Belt Public Power District	July 1, 2007	December 31, 2050
	Wheatland Rural Electric Association	July 1, 2007	December 31, 2050
	White River Electric Association, Inc.	July 1, 2007	December 31, 2050
	Wyrulec Company	July 1, 2007	December 31, 2050
	Y-W Electric Association, Inc.	July 1, 2007	December 31, 2050

** Pursuant to the terms of the Wholesale Electric Service Contract, the contract remains in effect until 12/31/50 and thereafter until terminated by either party giving to the other not less than two years’ written notice of its intention to terminate (emphasis added).

SCHEDULE 10.02
ADMINISTRATIVE AGENT’S OFFICE; CERTAIN ADDRESSES FOR NOTICES;
TAXPAYER IDENTIFICATION NUMBER

BORROWER:
Tri State Generation and Transmission Association, Inc.

1100 West 116th Avenue
Westminster, CO 80234
Attention: Chief Executive Officer

Telephone: 303-452-6111

with a copy to the Chief Financial Officer
Electronic Mail: 
Website Address:    www.tristate.coop
U.S. Taxpayer Identification Number: 84-0464189

ADMINISTRATIVE AGENT:
Administrative Agent’s Office
(for all borrowings, payments, letters of credit, compliance and other notices) 

National Rural Utilities Cooperative Finance Corporation
20701 Cooperative Way
Dulles, VA 20166
Attn:  Loan Syndications
Telephone:  703-467-1615
Facsimile:  703-467-5681
Electronic Mail: 

Account No. :  
Reference:  TriState GT Admin Agent Account
JPMorgan Chase
New York, NY
ABA: 
L/C ISSUERS: 
National Rural Utilities Cooperative Finance Corporation
20701 Cooperative Way
Dulles, VA 20166
Attn:  Loan Syndications
Telephone:  703-467-1615
Facsimile:  703-467-5681
Electronic Mail:  

US Bank
U.S. Bank National Association
800 Nicollet Mall
Minneapolis, MN 55402
Attn: Standby Letters of Credit
Telephone:  
    Julie Seaton: 612-303-7395
    Jon Hambidge: 612-303-7374
Electronic Mail: 
    Julie Seaton: 
    Jon Hambidge: 

SWING LINE LENDER: 
National Rural Utilities Cooperative Finance Corporation
20701 Cooperative Way
Dulles, VA 20166
Attn:  Loan Syndications
Telephone:  703-467-1615
Facsimile:  703-467-5681
Electronic Mail:  

Account No. :  
Reference:  TriState GT Admin Agent Account
JPMorgan Chase
New York, NY
ABA: 

SCHEDULE 10.06(e)
VOTING PARTICIPANTS

None.

EXHIBIT A
[FORM OF COMMITTED LOAN NOTICE]
LOAN NOTICE
Date:  __________, 20___
To:    National Rural Utilities Cooperative Finance Corporation (“CFC”), as Administrative Agent
Re:    Amended and Restated Credit Agreement dated as of April 25, 2022 (as amended, restated, extended, supplemented or otherwise modified from time to time, the “Credit Agreement”; terms defined therein being used herein as therein defined) among the Borrower, the lenders party thereto, and CFC, as Administrative Agent.
Ladies and Gentlemen:
1.The undersigned hereby requests (select one):
☐ a Borrowing    ☐ a conversion or continuation of Loans
2.On _______________, 20___ (which is a Business Day).
3.In the amount of $__________.
4.Type of Loan requested (select one):
☐ SOFR Loan    ☐ Base Rate Loan
5.For SOFR Loans: with an Interest Period of __________ month[s]3.
The Borrower hereby represents and warrants that (a) in connection with this Request for Credit Extension (unless a request for a conversion of Loans or a continuation of SOFR Loans) each of the conditions set forth in Sections 4.02(a) and (b) of the Credit Agreement has been satisfied on and as of the date of the Credit Extension and (b) after giving effect to the Borrowing requested herein, if any, (i) the Total Outstandings do not exceed the Aggregate Commitments, and (ii) the aggregate Outstanding Amount of the Loans of any Lender plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations plus such Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans does not exceed such Lender’s Commitment.
TRI-STATE GENERATION AND TRANSMISSION ASSOCIATION, INC.,

By:    
Name:
Title:

3 One, three or six months.

EXHIBIT B
[FORM OF SWING LINE NOTICE]
SWING LINE LOAN NOTICE
Date: __________, 20__
To:    National Rural Utilities Cooperative Finance Corporation (“CFC”)
Cc:    CFC, as Administrative Agent
Re:    Amended and Restated Credit Agreement dated as of April 25, 2022 (as amended, restated, extended, supplemented or otherwise modified from time to time, the “Credit Agreement”; terms defined therein being used herein as therein defined) among the Borrower, the lenders party thereto, and CFC, as Administrative Agent.
Ladies and Gentlemen:
1.The undersigned hereby requests a Swing Line Loan:
2.On __________, 20__ (a Business Day).
3.In the amount of $__________.
The Borrower hereby represents and warrants that (a) in connection with this Request for Credit Extension each of the conditions set forth in Sections 4.02(a) and (b) of the Credit Agreement has been satisfied on and as of the date of the Credit Extension and (b) after giving effect to the Swing Line Borrowing requested herein, (i) the Total Outstandings do not exceed the Aggregate Commitments, and (ii) the aggregate Outstanding Amount of the Loans of any Lender plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations plus such Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans does not exceed such Lender’s Commitment and (b) each of the conditions set forth in Section 2.04 of the Credit Agreement has been satisfied on and as of the date of such Borrowing of Swing Line Loans.
TRI-STATE GENERATION AND TRANSMISSION ASSOCIATION, INC.,

By:    
Name:
Title:

EXHIBIT C
[FORM OF PROMISSORY NOTE]
[AMENDED AND RESTATED] PROMISSORY NOTE
$[_________]    [________], 20[__]
    New York, New York
FOR VALUE RECEIVED, TRI-STATE GENERATION AND TRANSMISSION ASSOCIATION, INC., a cooperative corporation duly organized under the law of the State of Colorado (the “Borrower”), hereby promises to pay to [NAME OF LENDER] (the “Lender”), at such of the offices National Rural Utilities Cooperative Finance Corporation, as shall be notified to the Borrower from time to time, the principal sum of [DOLLAR AMOUNT] Dollars (or such lesser amount as shall equal the aggregate unpaid principal amount of the Loans made by the Lender to the Borrower under the Credit Agreement), in lawful money of the United States of America and in immediately available funds, on the dates and in the principal amounts provided in the Credit Agreement, and to pay interest on the unpaid principal amount of each such Loan, at such office, in like money and funds, for the period commencing on the date of such Loan until such Loan shall be paid in full, at the rates per annum and on the dates provided in the Credit Agreement.
The date, amount, Type, interest rate and duration of Interest Period (if applicable) of each Loan made by the Lender to the Borrower, and each payment made on account of the principal thereof, shall be recorded by the Lender on its books; provided that the failure of the Lender to make any such recordation shall not affect the obligations of the Borrower to make a payment when due of any amount owing under the Credit Agreement or hereunder in respect of the Loans made by the Lender.
This Promissory Note evidences Loans made by the Lender under the Amended and Restated Credit Agreement dated as of April 25, 2022 (as modified and supplemented and in effect from time to time, the “Credit Agreement”) among the Borrower, the lenders party thereto, and National Rural Utilities Cooperative Finance Corporation, as Administrative Agent.  Terms used but not defined in this Promissory Note have the respective meanings assigned to them in the Credit Agreement.
[This Amended and Restated Promissory Note replaces, restates and supersedes, but does not constitute payment of the indebtedness evidenced by, the Promissory Note dated April 25, 2018 issued by the undersigned to the Lender pursuant to the Existing Credit Agreement (as defined in the Credit Agreement).]
The Credit Agreement provides for the acceleration of the maturity of this Promissory Note upon the occurrence of certain events and for prepayments of Loans upon the terms and conditions specified therein.
Except as permitted by Section 10.06 of the Credit Agreement, this Promissory Note may not be assigned by the Lender to any other Person.
This Promissory Note (together with the other promissory notes issued to the Lenders pursuant to the Credit Agreement), and the Secured Note as defined in the Credit Agreement represent the same obligation.

This Promissory Note shall be governed by, and construed in accordance with, the law of the State of New York.
TRI-STATE GENERATION AND TRANSMISSION ASSOCIATION, INC.

By:_________________________
Name:
Title:

EXHIBIT D
[FORM OF COMPLIANCE CERTIFICATE]
COMPLIANCE CERTIFICATE
I, [_____________], the [___________] of Tri-State Generation and Transmission Association, Inc. (the “Company”), and, as such, a Responsible Officer of the Company, DO HEREBY CERTIFY that:
(a)I have conducted a review of the Amended and Restated Credit Agreement dated as of April 25, 2022 (the “Credit Agreement”) among the Company, the lenders party thereto, and National Rural Utilities Cooperative Finance Corporation, as Administrative Agent, the financial statements of the Company and such other documents as I have deemed necessary for this certification.  Capitalized terms used and not defined herein shall have the meanings assigned to them in the Credit Agreement.  This Compliance Certificate is being delivered pursuant to [Section 4.01(a)][Section 6.02(a)] of the Credit Agreement.
(b)[No Default has occurred during the period beginning on [_____], 20[__] and ending on the date hereof.] [Attached hereto as Annex 1 is a detailed description of each Default that has occurred during the period beginning on [_____], 20[__] and ending on the date hereof, together with a description of any action taken or proposed to be taken with respect thereto.]
(c)Attached hereto is Schedule 1, demonstrating compliance with the covenants set forth in Section 7.13 of the Credit Agreement as of the date hereof.
(d)The Debt Ratings of the Company, as of the date hereof, are as set forth below.
									
	S&P	Moody’s	Fitch
			

[(e)    Since the date of the audited financial statements referred to in Section 6.01 of the Credit Agreement, a change [in Accounting Requirements] [in the application of Accounting Requirements with respect to the financial statements of the Company] has occurred, and the effect of such change on the financial statements accompanying this Compliance Certificate is [_________].]
WITNESS my hand this ____ day of [_____], 20[__].
____________________________
Title:

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

						
	1.    Assignor:	
	2.    Assignee:	    
[and is an Affiliate of [identify Lender]]

	3.    Borrower:	Tri-State Generation and Transmission Association, Inc.
	4.    Administrative Agent:	National Rural Utilities Cooperative Finance Corporation, as the administrative agent under the Credit Agreement
	5.    Credit Agreement:	Amended and Restated Credit Agreement,
dated as of April 25, 2022
	among the Borrower, the lenders party thereto, and National Rural Utilities Cooperative
Finance Corporation, as Administrative Agent
	6.    Assigned Interest:	

									
	Aggregate Amount of Commitment / Loans for all Lenders	Amount of Commitment/ Loans Assigned4	Percentage Assigned of Commitment / Loans5
	$	$	%
	$	$	%
	$	$	%

4 Partial assignments to be in an amount not less than $2,500,000.
5 Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder.

						
	Effective Date:	_____________ ___, 20___6

The terms set forth in this Assignment and Assumption are hereby agreed to:
ASSIGNOR

[NAME OF ASSIGNOR]

By:_________________________
    Name:
    Title:
ASSIGNEE

[NAME OF ASSIGNEE]

By:_________________________
    Name:
    Title:

6 To be inserted by Administrative Agent and which shall be the effective date of recordation of transfer in the register therefor.

Consented to and Accepted:
National Rural Utilities Cooperative Finance
Corporation, as Administrative
Agent and L/C Issuer
By:_________________________
Name:
Title:
Consented to:
TRI-STATE GENERATION AND TRANSMISSION ASSOCIATION, INC. 7
By:_________________________
Name:
Title:

7 To be added only if the consent of the Borrower is required by the terms of the Credit Agreement.

ANNEX 1
Amended and Restated Credit Agreement dated as of April 25, 2022
among the
Borrower, the lenders party thereto, and National Rural
Utilities Cooperative Finance Corporation, as Administrative Agent
STANDARD TERMS AND CONDITIONS FOR
ASSIGNMENT AND ASSUMPTION
1.Representations and Warranties.
1.1Assignor.  The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of the Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations under any Loan Document.
1.2Assignee.  The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it satisfies the requirements, if any, specified in the Credit Agreement that are required to be satisfied by it in order to acquire the Assigned Interest and become a Lender, (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect to decisions to acquire assets of the type represented by the Assigned Interest and either it, or the Person exercising discretion in making its decision to acquire the Assigned Interest, is experienced in acquiring assets of such type, (v) it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 6.01 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned Interest on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender, and (vi) if it is a Foreign Lender, attached to the Assignment and Assumption is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and (b) agrees that (i) it will, independently and without reliance on the Administrative Agent, the Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender.
2.Payments.  From and after the Effective Date, the Administrative Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective Date and to the Assignee for amounts which have accrued from and after the Effective Date.

3.General Provisions.  This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns.  This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument.  Delivery of an executed counterpart of a signature page of this Assignment and Assumption by facsimile shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption.  This Assignment and Assumption shall be governed by, and construed in accordance with, the law of the State of New York.Exhibit 10.1

 

EXECUTION VERSION

 

 

AMENDMENT NO. 6 TO CREDIT AGREEMENT

 

AMENDMENT NO. 6 TO CREDIT
AGREEMENT, dated as of April 22, 2022 (this “Amendment”), among BRIGHTVIEW HOLDINGS, INC. (f/k/a GARDEN
ACQUISITION HOLDINGS, INC.) (“Holdings”), BRIGHTVIEW LANDSCAPES, LLC (f/k/a The
Brickman Group Ltd. LLC), a Delaware limited liability company (the “Borrower”), each of the other Credit
Parties party hereto, each of the lenders and letter of credit issuers that is a signatory hereto and JPMORGAN CHASE BANK, N.A. (in
its individual capacity, “JPMorgan”), as Administrative Agent (the “Administrative Agent”),
Collateral Agent, Swingline Lender and a Letter of Credit Issuer.

 

W I T N E S S E T H:

 

WHEREAS, the Borrower, Holdings,
JPMorgan, as the administrative agent and collateral agent, and each lender from time to time party thereto (the “Lenders”)
have entered into a Credit Agreement, dated as of December 18, 2013, (as amended, restated and amended and restated prior to the
date hereof, the “Credit Agreement”) (capitalized terms not otherwise defined in this Amendment have the same meanings
as specified in the Credit Agreement);

 

WHEREAS,
on the date hereof, the Borrower, Holdings, the Administrative Agent, each existing Revolving Credit Lender party hereto and/or each lender
who will become a Revolving Credit Lender on the Amendment Effective Date (as defined below) (the “New Revolving Credit Lenders”)
and JPMorgan and each other Initial Term Loan Lender (as defined below) party hereto, desire to amend the Credit Agreement as set forth
herein to, among other things, (i) extend credit in the form of new term loans in an aggregate principal amount of $1,200,000,000
on the date hereof, to replace the Existing Term Loans thereunder, and (ii) to replace the Revolving Credit Loans thereunder with
new revolving credit loans in an aggregate principal amount of $300,000,000;

 

WHEREAS, on the date hereof,
each New Revolving Credit Lender has delivered a signature page hereto;

 

WHEREAS, the Borrower will use
the proceeds of the Initial Term Loans to (i) repay in full the Term Loans outstanding immediately prior to the Amendment Effective
Date (the “Existing Term Loans”) together with all accrued but unpaid interest thereon and (ii) pay fees and expenses
in connection therewith and with this Amendment and, to the extent of any proceeds therefrom remaining, for general corporate and working
capital purposes of the Borrower;

 

WHEREAS, the Administrative
Agent, the Borrower, Holdings and the Lenders signatory hereto are willing to so agree pursuant to Section 13.1 of
the Credit Agreement, subject to the conditions set forth herein;

 

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

 

SECTION 1.          Amendment.
Effective as of the Amendment Effective Date (as defined below), and subject to the terms and conditions set forth herein, (x) the
Credit Agreement is hereby amended and restated to be in the form of Annex A hereto and (y) the portions of Schedule
1.1(b) to the Credit Agreement with respect to the Revolving Credit Commitment and the Letter of Credit Commitment is hereby amended
to be in the form of Annex B hereto (the Credit Agreement, as so amended, being referred to as the “Amended
Credit Agreement”).

 

     

    2

    

 

SECTION 2.           Term
Loan Lenders.

 

(a)            Each
Person Party hereto whose name is set forth on Schedule I hereto under the heading “Initial Term Loan Lender” (each
such Person, an “Initial Term Loan Lender”) hereby agrees, severally and not jointly, on the Amendment Effective Date
and on the terms and conditions set forth herein and in the Amended Credit Agreement, to make its Initial Term Loan in an aggregate principal
amount equal to its Initial Term Loan Commitment in accordance with Section 2.1(a) of the Amended Credit Agreement.

 

(b)            Any
Person that holds Existing Term Loans immediately prior to the Amendment Effective Date (each such Person, an “Existing Term
Loan Lender”) may elect for a “cashless conversion” of 100% (or such lesser amount as may be notified to such Existing
Term Loan Lender by the Administrative Agent prior to the Amendment Effective Date) of its Existing Term Loans into Initial Term Loans
(as defined in the Amended Credit Agreement) in the same principal amount by indicating such election for a cashless settlement option
on its signature page hereto (such electing Existing Term Loan Lenders, the “Converting Term Loan Lenders”). It
is understood and agreed that (i) simultaneously with the deemed making of Initial Term Loans by each Converting Term Loan Lender
and the payment to such Converting Term Loan Lender of all accrued and unpaid fees and other amounts in respect of the Existing Term Loans
in respect of such Converted Term Loan Amount (as defined below), such elected amount (or such lesser amount as may be notified to such
Converting Term Loan Lender by the Administrative Agent prior to the Amendment Effective Date) of the Existing Term Loans held by such
Converting Term Loan Lender (the “Converted Term Loan Amount”) shall be deemed to be extinguished, repaid and no longer
outstanding and such Converting Term Loan Lender shall thereafter hold Initial Term Loans in an aggregate principal amount equal to such
Converting Term Loan Lender’s Converted Term Loan Amount, (ii) no Converting Term Loan Lender shall receive any repayment being
made to other Existing Term Loan Lenders holding Existing Term Loans from the proceeds of the Initial Term Loans to the extent of such
Converting Term Loan Lender’s Converted Term Loan Amount and (iii) any Initial Term Loan held by a Converting Term Loan Lender
that is not so allocated to such Converting Term Loan Lender as a Converted Term Loan Amount shall be repaid in full on the Amendment
Effective Date together with all accrued and unpaid amounts owing to such Converting Term Loan Lender (in its capacity as an Existing
Term Loan Lender) in respect of such amount.

 

SECTION 3.     Revolving
Credit Lenders. Each Revolving Credit Lender (including each New Revolving Credit Lender) hereby agrees, on the terms and conditions
set forth herein and in the Amended Credit Agreement, to make Revolving Credit Loans in accordance with Section 2.1(b) of the
Amended Credit Agreement. In addition, by its signature hereto, each Revolving Credit Lender (including each New Revolving Credit Lender)
hereby agrees to the Revolving Credit Commitments set forth on Annex B hereto, which shall replace the portions of Schedule
1.1(b) to the Credit Agreement with respect to the Revolving Credit Commitments and the Letter of Credit Commitment. The Administrative
Agent may take any and all action not prohibited by the Credit Agreement as may be reasonably necessary to ensure that all Revolving Credit
Loans outstanding as of the date hereof are included in each Borrowing of outstanding Revolving Credit Loans on a pro rata basis. Each
letter of credit previously issued for the account of the Borrower that is (a) outstanding on the Amendment Effective Date and (b) is
listed on Annex C hereto, in each case shall be deemed, for all purposes of this Amendment and the Amended Credit Agreement, to
be a Letter of Credit issued under the Amended Credit Agreement for the account of the Borrower.

 

     

    3

    

 

SECTION 4.          Conditions
of Effectiveness.

 

This Amendment and the amendment
of the Credit Agreement as set forth in Section 1 hereof shall become effective as of the first date (such date being referred to
as the “Amendment Effective Date”) when each of the following conditions shall have been satisfied:

 

(a)            The
conditions in Sections 6 and 7 of the Amended Credit Agreement shall have been satisfied.

 

(b)            Each
of the representations and warranties set forth in Section 5 shall be true and correct.

 

(c)            The
Administrative Agent shall have received for the account of each Lender under the Amended Credit Agreement, an upfront fee in an amount
equal to 1.00% of the aggregate principal amount of the Initial Term Loans borrowed on the Closing Date; provided that such upfront
fees may be structured as original issue discount as agreed between the Borrower and the Administrative Agent.

 

(d)            The
Borrower shall have delivered to the Administrative Agent, at least two (2) Business Days prior to the Amendment Effective Date,
a Notice of Borrowing specifying (i) the aggregate principal amount of Term Loans to be made on the Amendment Effective Date, (ii) the
date of Borrowing (which shall be the Amendment Effective Date) and (ii) whether the Term Loans shall consist of ABR Loans and/or
Term Benchmark Loans, and if the Term Loans are to include Term Benchmark Loans, the Interest Period to be initially applicable thereto.

 

SECTION 5.     Representations
and Warranties. The Borrower and Holdings represent and warrant as follows as of the date hereof:

 

(a)            Neither
the execution, delivery or performance by either the Borrower or Holdings of this Amendment nor compliance with the terms and provisions
thereof nor the consummation of the Transactions and the other transactions contemplated hereby or thereby will (a) contravene any
applicable provision of any material law, statute, rule, regulation, order, writ, injunction or decree of any court or governmental instrumentality,
(b) result in any breach of any of the terms, covenants, conditions or provisions of, or constitute a default under, or result in
the creation or imposition of (or the obligation to create or impose) any Lien upon any of the property or assets of the Borrower, Holdings
or any of the Restricted Subsidiaries (other than Liens created under the Credit Documents or Permitted Liens) pursuant to, the terms
of any Contractual Requirement other than any such breach, default or Lien that would not reasonably be expected to result in a Material
Adverse Effect or (c) violate any provision of the certificate of incorporation, by-laws, articles or other organizational documents
of the Borrower, Holdings or any of the Restricted Subsidiaries.

 

(b)            Each
of the Borrower and Holdings has the corporate or other organizational power and authority to execute, deliver and carry out the terms
and provisions of this Amendment and has taken all necessary corporate or other organizational action to authorize the execution, delivery
and performance of this Amendment. Each of the Borrower and Holdings has duly executed and delivered this Amendment and this Amendment
constitutes the legal, valid, and binding obligation of each of the Borrower and Holdings enforceable in accordance with its terms, except
as the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditors’ rights generally and
subject to general principles of equity.

 

(c)            Upon
the effectiveness of this Amendment and both before and immediately after giving effect to this Amendment and the making of the Initial
Term Loans as contemplated herein, no Default exists.

 

(d)            The
representations and warranties made by the Credit Parties in Section 8 of the Credit Agreement and in the other
Credit Documents shall be true in all material respects (and in all respects if qualified by materiality) on and as of the Amendment Effective
Date both before and after giving effect to the Initial Term Loans made on the Amendment Effective Date with the same force and effect
as if made on and as of such date and following such new borrowing, except to the extent such representations and warranties are expressly
limited to an earlier date (in which case such representations and warranties shall be true as of such earlier date).

 

     

    4

    

 

SECTION 6.        
   Reaffirmation. Each of the undersigned Credit Parties acknowledges (i) all of its Obligations
(as amended hereby) are reaffirmed and remain in full force and effect on a continuous basis, (ii) its guarantee obligations
and its grant of security interests pursuant to the Credit Documents are reaffirmed and remain in full force and effect after giving
effect to this Amendment  and (iii) the execution of this Amendment shall not operate as a waiver of any right, power or
remedy of the Administrative Agent, the Collateral Agent or any other Secured Party, constitute a waiver of any provision of any of
the Credit Documents or serve to effect a novation of the Obligations.

 

SECTION 7.           Reference
to and Effect on the Credit Agreement and the Credit Documents.

 

(a)            On
and after the Amendment Effective Date, each reference in the Credit Agreement to “this Agreement,” “hereunder,”
 “hereof” or words of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement,
as amended by this Amendment No. 6 (i.e., the Amended Credit Agreement).

 

(b)            The
Credit Agreement and each of the other Credit Documents, as specifically amended by this Amendment are and shall continue to be in full
force and effect and are hereby in all respects ratified and confirmed. Without limiting the generality of the foregoing, the Security
Documents and all of the Collateral described therein do and shall continue to secure, and the Guarantees do and shall continue to support,
the payment of all Obligations of the Loan Parties under the Credit Documents, in each case, as amended by this Amendment.

 

(c)            The
execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right,
power or remedy of any Lender or the Administrative Agent under any of the Credit Documents, nor constitute a waiver of any provision
of any of the Credit Documents. On and after the effectiveness of this Amendment, this Amendment shall for all purposes constitute a Credit
Document.

 

(d)            It
is the intent of the parties hereto, and the parties hereto agree, that this Amendment shall not constitute a novation of the Credit Agreement,
any other Credit Document or any of the rights, obligations or liabilities thereunder.

 

SECTION 8.           Execution
in Counterparts. This Amendment may be executed by one or more of the parties to this Amendment on any number of separate counterparts
(including by facsimile or other electronic transmission), and all of said counterparts taken together shall be deemed to constitute one
and the same instrument. Delivery by facsimile or electronic transmission of an executed counterpart of a signature page to this
Amendment shall be effective as delivery of an original executed counterpart of this Amendment.

 

SECTION 9.  
        Governing Law.

 

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

 

     

    5

    

 

(b)            ANY
LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AMENDMENT SHALL BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK
COUNTY OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK, IN EACH CASE SITTING IN NEW YORK CITY IN THE BOROUGH OF MANHATTAN,
AND APPELLATE COURTS FROM ANY THEREOF, AND, BY EXECUTION AND DELIVERY OF THIS AMENDMENT, THE BORROWER, HOLDINGS, THE ADMINISTRATIVE AGENT
AND EACH LENDER HEREBY ACCEPTS FOR ITSELF AND (TO THE EXTENT PERMITTED BY LAW) IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY,
THE EXCLUSIVE GENERAL JURISDICTION OF THE AFORESAID COURTS. THE BORROWER, HOLDINGS, THE ADMINISTRATIVE AGENT AND EACH LENDER HEREBY IRREVOCABLY
WAIVES ANY OBJECTION, INCLUDING, WITHOUT LIMITATION, ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS,
WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY SUCH ACTION OR PROCEEDING IN SUCH RESPECTIVE JURISDICTIONS.

 

(c)            EACH
PARTY HERETO IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 13.2 OF
THE CREDIT AGREEMENT. NOTHING IN THIS AMENDMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED
BY APPLICABLE GOVERNMENTAL REQUIREMENTS.

 

(d)            NOTHING
HEREIN SHALL AFFECT THE RIGHT OF THE ADMINISTRATIVE AGENT OR ANY LENDER OR ANY HOLDER OF A NOTE TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE
PROCEED AGAINST THE LOAN PARTIES IN ANY OTHER JURISDICTION WITH RESPECT TO ANY OTHER CREDIT DOCUMENT THAT PROVIDES FOR SUCH OTHER JURISDICTION, INCLUDING
WITHOUT LIMITATION THE COMMENCEMENT OF ENFORCEMENT PROCEEDINGS UNDER THE CREDIT DOCUMENTS IN ALL APPLICABLE JURISDICTIONS.

 

(e)            THE
BORROWER, HOLDINGS AND EACH LENDER HEREBY (I) IRREVOCABLY AND UNCONDITIONALLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, TRIAL
BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AMENDMENT AND FOR ANY COUNTERCLAIM THEREIN; (II) IRREVOCABLY WAIVE, TO
THE MAXIMUM EXTENT NOT PROHIBITED BY LAW, ANY RIGHT IT MAY HAVE TO CLAIM OR RECOVER IN ANY SUCH LITIGATION ANY SPECIAL, EXEMPLARY,
PUNITIVE OR CONSEQUENTIAL DAMAGES, OR DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES; (III) CERTIFY THAT NO PARTY HERETO NOR
ANY REPRESENTATIVE OR AGENT OR COUNSEL FOR ANY PARTY HERETO HAS REPRESENTED, EXPRESSLY OR OTHERWISE, OR IMPLIED THAT SUCH PARTY WOULD
NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVERS; AND (IV) ACKNOWLEDGE THAT IT HAS BEEN INDUCED TO ENTER
INTO THIS AMENDMENT, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS CONTAINED IN THIS SECTION 8.

 

[The remainder of this page is intentionally
left blank]

 

     

     

    

 

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

 

	 	BRIGHTVIEW HOLDINGS, INC., as Holdings
	 	 
	 	By:	/s/ Katriona Knaus
	 	Name:	Katriona Knaus
	 	Title:	 Treasurer
	 	 
	 	BRIGHTVIEW LANDSCAPES, LLC, as the Borrower
	 	 
	 	By:	/s/ Katriona Knaus
	 	Name:	 Katriona Knaus
	 	Title:	 Treasurer
	 	 
	 	BRIGHTVIEW CHARGERS INC.
	 	 
	 	By:	/s/ Katriona Knaus
	 	Name:	Katriona Knaus
	 	Title:	Assistant Treasurer
	 	 
	 	BRIGHTVIEW ENTERPRISE SOLUTIONS, LLC
	 	 
	 	By:	/s/ Katriona Knaus
	 	Name:	Katriona Knaus
	 	Title:	Assistant Treasurer
	 	 
	 	BRIGHTVIEW LANDSCAPES DEVELOPMENT, INC.
	 	 
	 	By:	/s/ Katriona Knaus
	 	Name:	Katriona Knaus
	 	Title:	Assistant Treasurer
	 	 
	 	BRIGHTVIEW LANDSCAPES SERVICES, INC.
	 	 
	 	By:	/s/ Katriona Knaus
	 	Name:	Katriona Knaus
	 	Title:	Assistant Treasurer

 

[Signature
Page to BrightView Amendment No. 6 to Credit Agreement]

 

     

     

    

	 	 
	 	BRIGHTVIEW LANDSCAPES SERVICES, INC.
	 	 
	 	By:	/s/ Katriona Knaus
	 	Name:	 Katriona Knaus
	 	Title:	 Assistant Treasurer
	 	 
	 	BRIGHTVIEW COMPANIES, LLC
	 	 
	 	By:	/s/ Katriona Knaus
	 	Name:	 Katriona Knaus
	 	Title:	 Assistant Secretary

 

     

     

    

 

	 	JPMORGAN CHASE BANK, N.A., as Administrative Agent, Collateral Agent, Swingline Lender, a Letter of Credit Issuer, Revolving Credit Lender and Initial Term Loan Lender
	 	 
		By:	/s/ Stacey Zoland
	 	Name:	Stacey Zoland
	 	Title:	Authorized Officer

 

[Signature
Page to BrightView Amendment No. 6 to Credit Agreement]

 

     

     

    

 

	 	MUFG
    BANK, LTD., as a Revolving Credit Lender and Letter of Credit Issuer
	 	 
	 	By:	 /s/ Deborah L. White
	 	Name:  	Deborah L. White
	 	Title: 	Director

 

[Signature
Page to BrightView Amendment No. 6 to Credit Agreement]

 

     

     

    

 

	 	PNC
    BANK, NATIONAL ASSOCIATION, as a Revolving Credit Lender and Letter of Credit Issuer
	 	 
	 	By:	/s/
    David Notaro
	 	Name: 	David
    Notaro
	 	Title:	Senior
    Vice President

 

[Signature
Page to BrightView Amendment No. 6 to Credit Agreement]

 

     

     

    

 

	 	GOLDMAN
    SACHS BANK USA, as a Revolving Credit Lender and Letter of Credit Issuer
	 	 
	 	By:	/s/
    Thomas Manning
	 	Name: 	Thomas
    Manning
	 	Title:	Authorized
    Signatory

 

[Signature
Page to BrightView Amendment No. 6 to Credit Agreement]

 

     

     

    

 

	 	MIZUHO
    BANK, LTD., as a Revolving Credit Lender and Letter of Credit Issuer
	 	 
	 	By:	/s/
    Donna DeMagistris
	 	Name: 	Donna
    DeMagistris
	 	Title:	Executive
    Director

 

[Signature
Page to BrightView Amendment No. 6 to Credit Agreement]

 

     

     

    

 

	 	CITIZENS
    BANK, N.A., as a Revolving Credit Lender and Letter of Credit Issuer
	 	 
	 	By:	/s/
    Aman Patel
	 	Name: 	Aman
    Patel
	 	Title:	Director

 

[Signature
Page to BrightView Amendment No. 6 to Credit Agreement]

 

     

     

    

 

	 	WELLS
    FARGO BANK, N.A., as a Revolving Credit Lender and Letter of Credit Issuer
	 	 
	 	By:	/s/
    Bradley Baker
	 	Name: 	Bradley
    Baker
	 	Title:	Director,
    Senior Portfolio Manager

 

[Signature
Page to BrightView Amendment No. 6 to Credit Agreement]

 

     

     

    

 

	 	ING
    CAPITAL LLC, as a Revolving Credit Lender and Letter of Credit Issuer
	 	 
	 	By:	/s/
    Lee Lem
	 	Name: 	Lee
    Lem
	 	Title:	Director
	 	 
	 	If
    a second signature is necessary:
	 	 
	 	By:	/s/
    Reynaldo Grant
	 	Name: 	Reynaldo
    Grant
	 	Title:	Director

 

[Signature
Page to BrightView Amendment No. 6 to Credit Agreement]

 

     

     

    

 

	 	SUMITOMO
    MITSUI BANKING CORPORATION, as a Revolving Credit Lender and Letter of Credit Issuer
	 	 
	 	By:	/s/
    Robert Pellegrini
	 	Name: 	Robert
    Pellegrini
	 	Title:	Managing
    Director

 

[Signature
Page to BrightView Amendment No. 6 to Credit Agreement]

 

     

     

    

 

SCHEDULE I

 

Initial Term Loan Lenders

 

	Initial
    Term Loan Lender	 	Initial
    Term Loan

    Commitment	 
	JPMorgan
    Chase Bank, N.A. 
	 	$	761,691,187.70	 
	Converting
    Term Loan Lenders1	 	$	438,308,812.30	 
	     Total	 	$	1,200,000,000.00	 

 

 

1 Allocation separately communicated
to the Converting Term Loan Lenders.

 

     

     

    

 

ANNEX A

 

AMENDED CREDIT AGREEMENT

 

[SEE ATTACHED]

 

     

     

    

 

ANNEX
A

 

CREDIT AGREEMENT

 

dated as of December 18, 2013

 

among

 

BRIGHTVIEW HOLDINGS, INC.,

as Holdings,

 

BRIGHTVIEW LANDSCAPES, LLC,

as the Borrower,

 

The Several Lenders

from Time to Time Parties Hereto,

 

JPMORGAN CHASE BANK, N.A.

as the Administrative Agent, the Collateral Agent, the Swingline Lender, a Letter of Credit Issuer and a Lender,

 

and

 

JPMorgan
Chase bank, n.a.

KKR CAPITAL
MARKETS LLC

MUFG UNION BANK, N.A.

pnc BANK,
NATIONAL ASSOCIATION

GOLDMAN
SACHS BANK USA

MIZUHO BANK, LTD.

citizens BANK, N.A.

WELLS
FARGO SECURITIES, LLC

ING CAPITAL LLC

SUMITOMO
MITSUI BANKING CORPORATION,

as Joint Lead Arrangers and Bookrunners

 

     

     

    

 

TABLE OF CONTENTS

 

Page

 

	Section 1.	 Definitions	1

 

		1.1	Defined Terms	1

		1.2	Other Interpretive Provisions	79

		1.3	Accounting Terms	79

		1.4	Rounding	80

		1.5	References to Agreements Laws, Etc.	80

		1.6	Exchange Rates	80

		1.7	Rates	80

		1.8	Times of Day	81

		1.9	Timing of Payment or Performance	81

		1.10	Certifications	81

		1.11	Compliance with Certain Sections	81

		1.12	Pro Forma and Other Calculations	81

		1.13	Divisions	84

 

	Section 2.	Amount and Terms of Credit	 84

 

		2.1	Commitments	84

		2.2	Minimum Amount of Each Borrowing; Maximum Number of Borrowings	86

		2.3	Notice of Borrowing	86

		2.4	Disbursement of Funds	87

		2.5	Repayment of Loans; Evidence of Debt	88

		2.6	Conversions and Continuations	90

		2.7	Pro Rata Borrowings	90

		2.8	Interest	91

		2.9	Interest Periods	91

		2.10	Increased Costs, Illegality, Etc	92

		2.11	Compensation	95

		2.12	Change of Lending Office	95

		2.13	Notice of Certain Costs	95

		2.14	Incremental Facilities	96

		2.15	Permitted Debt Exchanges	103

		2.16	Defaulting Lenders	104

 

	Section 3.	Letters of Credit 	106

 

		3.1	Letters of Credit	106

		3.2	Letter of Credit Requests	108

		3.3	Letter of Credit Participations	109

		3.4	Agreement to Repay Letter of Credit Drawings	111

		3.5	Increased Costs	112

		3.6	New or Successor Letter of Credit Issuer	113

		3.7	Role of Letter of Credit Issuer	114

		3.8	Cash Collateral	115

		3.9	Applicability of ISP and UCP	115

		3.10	Conflict with Issuer Documents	116

 

    -v-

     

    

 

Page

 

		3.11	Letters of Credit Issued for Restricted Subsidiaries	116

		3.12	Provisions Related to Extended Revolving Credit Commitments	116

 

	Section 4.	Fees	 116

 

		4.1	Fees	116

		4.2	Voluntary Reduction of Revolving Credit Commitments	117

		4.3	Mandatory Termination of Commitments	118

 

	Section 5.	Payments	118

 

		5.1	Voluntary Prepayments	118

		5.2	Mandatory Prepayments	119

		5.3	Method and Place of Payment	122

		5.4	Net Payments	123

		5.5	Computations of Interest and Fees	127

		5.6	Limit on Rate of Interest	127

 

	Section 6.	Conditions Precedent to Initial Borrowing	128

 

		6.1	Credit Documents	128

		6.2	[Reserved]	128

		6.3	Legal Opinions	128

		6.4	Closing Certificates	128

		6.5	Authorization of Proceedings of Holdings and the Borrower; Corporate Documents	128

		6.6	Fees	128

		6.7	Representations and Warranties	128

		6.8	Solvency Certificate	128

		6.9	Patriot Act	129

		6.10	Financial Statements	129

		6.11	No Material Adverse Effect	129

 

	Section 7.	Conditions Precedent to All Credit Events	129

 

		7.1	No Default; Representations and Warranties	129

		7.2	Notice of Borrowing; Letter of Credit Request	130

 

	Section 8.	Representations and Warranties	 130

 

		8.1	Corporate Status	130

		8.2	Corporate Power and Authority	130

		8.3	No Violation	131

		8.4	Litigation	131

		8.5	Margin Regulations	131

		8.6	Governmental Approvals	131

		8.7	Investment Company Act	131

		8.8	True and Complete Disclosure	131

		8.9	Financial Condition; Financial Statements	132

		8.10	Compliance with Laws; No Default	132

		8.11	Tax Matters	133

		8.12	Compliance with ERISA	133

 

    -vi-

     

    

 

Page

 

		8.13	Subsidiaries	133

		8.14	Intellectual Property	133

		8.15	Environmental Laws	133

		8.16	Properties	134

		8.17	Solvency	134

		8.18	Patriot Act	134

 

	Section 9.	Affirmative Covenants	 134

 

		9.1	Information Covenants	134

		9.2	Books, Records, and Inspections	137

		9.3	Maintenance of Insurance	138

		9.4	Payment of Taxes	138

		9.5	Preservation of Existence; Consolidated Corporate Franchises	138

		9.6	Compliance with Statutes, Regulations, Etc.	138

		9.7	ERISA	139

		9.8	Maintenance of Properties	139

		9.9	Transactions with Affiliates	139

		9.10	End of Fiscal Years	140

		9.11	Additional Guarantors and Grantors	140

		9.12	Pledge of Additional Stock and Evidence of Indebtedness	141

		9.13	Use of Proceeds	141

		9.14	Further Assurances	141

		9.15	Maintenance of Ratings	143

		9.16	Lines of Business	143

 

	Section 10.	Negative Covenants	 143

 

		10.1	Limitation on Indebtedness	143

		10.2	Limitation on Liens	148

		10.3	Limitation on Fundamental Changes	149

		10.4	Limitation on Sale of Assets	151

		10.5	Limitation on Restricted Payments	153

		10.6	Limitation on Subsidiary Distributions	160

		10.7	Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio	162

 

	Section 11.	Events of Default	162

 

		11.1	Payments	162

		11.2	Representations, Etc.	162

		11.3	Covenants	162

		11.4	Default Under Other Agreements	163

		11.5	Bankruptcy, Etc.	164

		11.6	ERISA	164

		11.7	Guarantee	164

		11.8	Pledge Agreement	164

		11.9	Security Agreement	164

		11.10	Judgments	165

		11.11	Change of Control	165

		11.12	Remedies Upon Event of Default	165

 

    -vii-

     

    

 

Page

 

		11.13	Application of Proceeds	166

		11.14	Equity Cure	167

 

	Section 12.	The Agents	167

 

		12.1	Appointment	167

		12.2	Delegation of Duties	168

		12.3	Exculpatory Provisions	168

		12.4	Reliance by Agents	169

		12.5	Notice of Default	169

		12.6	Non-Reliance on Administrative Agent, Collateral Agent, and Other Lenders	170

		12.7	Indemnification	170

		12.8	Agents in Their Individual Capacities	171

		12.9	Successor Agents	171

		12.10	Withholding Tax	173

	 	12.11	Agents Under Security Documents and Guarantee	173

		12.12	Right to Realize on Collateral and Enforce Guarantee	174

		12.13	Intercreditor Agreements Govern	174

		12.14	Acknowledgements of Lenders and Issuing Banks	175

 

	Section 13.	Miscellaneous	 176

 

		13.1	Amendments, Waivers, and Releases	176

		13.2	Notices	179

		13.3	No Waiver; Cumulative Remedies	179

		13.4	Survival of Representations and Warranties	180

		13.5	Payment of Expenses; Indemnification	180

		13.6	Successors and Assigns; Participations and Assignments	181

		13.7	Replacements of Lenders Under Certain Circumstances	187

		13.8	Adjustments; Set-off	188

		13.9	Counterparts	189

		13.10	Severability	189

		13.11	Integration	189

		13.12	GOVERNING LAW	189

		13.13	Submission to Jurisdiction; Waivers	190

		13.14	Acknowledgments	190

		13.15	WAIVERS OF JURY TRIAL	191

		13.16	Confidentiality	191

		13.17	Direct Website Communications	192

		13.18	USA PATRIOT Act	193

		13.19	[Reserved]	193

		13.20	Payments Set Aside	193

		13.21	No Fiduciary Duty	193

		13.23	Certain ERISA Matters	194

		13.24	Acknowledgement Regarding Any Supported QFCs	195

 

    -viii-

     

    

 

	SCHEDULES
	 
	Schedule 1.1(a)	Mortgaged Properties
	Schedule 1.1(b)	Commitments of Lenders
	Schedule 1.1(c)	Hedge Banks
	Schedule 1.1(d)	 Existing Letters of Credit
	Schedule 8.13	 Subsidiaries
	Schedule 8.15	Environmental
	Schedule 9.14	 Post-Closing Actions
	Schedule 10.1	 Closing Date Indebtedness
	Schedule 10.2	Closing Date Liens
	Schedule 10.5	 Closing Date Investments
	Schedule 13.2	Notice Addresses
	 
	EXHIBITS
	 
	Exhibit A	 Form of Joinder Agreement
	Exhibit B	Form of Guarantee
	Exhibit C	Form of Pledge Agreement
	Exhibit D	 Form of Security Agreement
	Exhibit E	 Form of Credit Party Closing Certificate
	Exhibit F	Form of Assignment and Acceptance
	Exhibit G-1	 Form of Promissory Note (Initial Term Loans)
	Exhibit G-2	 Form of Promissory Note (Revolving Credit Loans)
	Exhibit H	Form of First Lien Intercreditor Agreement
	Exhibit I	Form of Second Lien Intercreditor Agreement
	Exhibit J-1	 Form of Non-Bank Tax Certificate (For Non-U.S. Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)
	Exhibit J-2	 Form of Non-Bank Tax Certificate (For Non-U.S. Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)
	Exhibit J-3	 Form of Non-Bank Tax Certificate (For Non-U.S. Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes)
	Exhibit J-4	 Form of Non-Bank Lenders Tax Certificate (For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes)
	Exhibit K 	Form of Notice of Borrowing or Continuation or Conversion
	Exhibit L	 Form of Letter of Credit Request
	Exhibit M	Form of Hedge Bank Designation

 

    -ix-

     

    

 

CREDIT AGREEMENT

 

CREDIT AGREEMENT, dated as
of December 18, 2013, among BRIGHTVIEW HOLDINGS, INC. (f/k/a GARDEN ACQUISITION HOLDINGS, INC.) (“Holdings”),
BRIGHTVIEW LANDSCAPES, LLC (f/k/a The Brickman Group Ltd. LLC), a Delaware limited liability company (the “Borrower”),
the lending institutions from time to time parties hereto (each a “Lender” and, collectively, together with the Swingline
Lender, the “Lenders”), and JPMORGAN CHASE BANK, N.A., as the Letter of Credit Issuer, the Swingline Lender, the Administrative
Agent and the Collateral Agent (such terms and each other capitalized term used but not defined in this preamble having the meaning provided
in Section 1).

 

WHEREAS, (a) the Borrower
has requested that the Lenders extend or continue to extend credit in the form of (i) Initial Term Loans to the Borrower on the Sixth
Amendment Effective Date, in an aggregate principal amount of $1,200,000,000 and (ii) Revolving Credit Loans made available to the
Borrower at any time and from time to time prior to the Revolving Credit Maturity Date in an aggregate principal amount at any time outstanding
not in excess of $300,000,000 less the sum of (1) the aggregate Letters of Credit Outstanding at such time and (2) the aggregate
principal amount of all Swingline Loans outstanding at such time, (b) the Borrower has requested (i) the Letter of Credit Issuer
to issue Letters of Credit at any time and from time to time prior to the L/C Facility Maturity Date, in an aggregate Stated Amount at
any time outstanding not in excess of $150,000,000, and (ii) to deem the letters of credit identified on Schedule 1.1(d) hereto
to be Letters of Credit for all purposes under this Agreement, and (c) the Borrower has requested the Swingline Lender to extend
credit to the Borrower in the form of Swingline Loans at any time and from time to time prior to the Swingline Maturity Date, in an aggregate
principal amount at any time outstanding not in excess of $30,000,000;

 

WHEREAS, the proceeds of the
Initial Term Loans will be used, together with cash on hand, to effect the Transactions, to provide for liquidity in the form of cash
on the balance sheet of Holdings and to pay Transaction Expenses; and

 

WHEREAS, the Lenders and Letter
of Credit Issuer are willing to make available to the Borrower such term loan and revolving credit and letter of credit facilities upon
the terms and subject to the conditions set forth herein;

 

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

 

Section 1.               Definitions.

 

1.1           Defined
Terms. As used herein, the following terms shall have the meanings specified in this Section 1.1 unless the context otherwise
requires (it being understood that defined terms in this Agreement shall include in the singular number the plural and in the plural the
singular):

 

“ABR” shall
mean, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the NYFRB Rate in
effect on such day plus 1⁄2 of 1% and (c) the Term SOFR Rate for a one month Interest Period as published two U.S. Government
Securities Business Days prior to such day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1%;
provided that for the purpose of this definition, the Term SOFR Rate for any day shall be based on the Term SOFR Reference Rate
at approximately 5:00 a.m. Chicago time on such day (or any amended publication time for the Term SOFR Reference Rate, as specified
by the CME Term SOFR Administrator in the Term SOFR Reference Rate methodology). Any change in the ABR due to a change in the Prime Rate,
the NYFRB Rate or the Term SOFR Rate shall be effective from and including the effective date of such change in the Prime Rate, the NYFRB
Rate or the Term SOFR Rate, respectively. If the ABR is being used as an alternate rate of interest pursuant to Section 2.10 (for
the avoidance of doubt, only until the Benchmark Replacement has been determined pursuant to Section 2.10(b)), then the ABR shall
be the greater of clauses (a) and (b) above and shall be determined without reference to clause (c) above. For the avoidance
of doubt, if the ABR as determined pursuant to the foregoing (i) in the case of the Initial Term Loans, would be less than 1.50%,
such rate shall be deemed to be 1.50% for purposes of this Agreement and (ii) in the case of the Revolving Loans, would be less than
1.00%, such rate shall be deemed to be 1.00% for purposes of this Agreement.

 

    1

     

    

 

 

“ABR Loan”
shall mean each Loan bearing interest based on the ABR.

 

“Acquired EBITDA”
shall mean, with respect to any Acquired Entity or Business or any Converted Restricted Subsidiary (any of the foregoing, a “Pro
Forma Entity”) for any period, the amount for such period of Consolidated EBITDA of such Pro Forma Entity (determined using
such definitions as if references to Holdings and the Restricted Subsidiaries therein were to such Pro Forma Entity and its Restricted
Subsidiaries), all as determined on a consolidated basis for such Pro Forma Entity in accordance with GAAP.

 

“Acquired Entity
or Business” shall have the meaning provided in the definition of the term Consolidated EBITDA.

 

“Acquired Indebtedness”
shall mean, with respect to any specified Person, (i) Indebtedness of any other Person existing at the time such other Person is
merged, consolidated, or amalgamated with or into or became a Restricted Subsidiary of such specified Person, including Indebtedness incurred
in connection with, or in contemplation of, such other Person merging, consolidating, or amalgamating with or into or becoming a Restricted
Subsidiary of such specified Person, and (ii) Indebtedness secured by a Lien encumbering any asset acquired by such specified Person.

 

“Additional Revolving
Credit Commitment” shall have the meaning provided in Section 2.14(a).

 

“Additional Revolving
Credit Loan” shall have the meaning provided in Section 2.14(b).

 

“Additional Revolving
Loan Lender” shall have the meaning provided in Section 2.14(b).

 

“Adjusted Total Revolving
Credit Commitment” shall mean at any time the Total Revolving Credit Commitment less the aggregate Revolving Credit Commitments
of all Defaulting Lenders.

 

“Adjusted Total Term
Loan Commitment” shall mean at any time the Total Term Loan Commitment less the Term Loan Commitments of all Defaulting Lenders.

 

“Administrative Agent”
shall mean JPMorgan Chase Bank, N.A., as the administrative agent for the Lenders under this Agreement and the other Credit Documents,
or any successor administrative agent pursuant to Section 12.9.

 

“Administrative Agent’s
Office” shall mean the Administrative Agent’s address and, as appropriate, account as set forth on Schedule 13.2
or such other address or account as the Administrative Agent may from time to time notify the Borrower and the Lenders.

 

“Administrative Questionnaire”
shall have the meaning provided in Section 13.6(b)(ii)(D).

 

    2

     

    

 

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

 

“Affiliate”
shall mean, with respect to any Person, any other Person directly or indirectly controlling, controlled by, or under direct or indirect
common control with such Person. A Person shall be deemed to control another Person if such Person possesses, directly or indirectly,
the power to direct or cause the direction of the management and policies of such other Person, whether through the ownership of voting
securities, by contract or otherwise.

 

“Affiliated Institutional
Lender” shall mean (i) any Affiliate of the Sponsor that is either a bona fide debt fund or such Affiliate extends credit
or buys loans in the ordinary course of business and (ii) KKR Corporate Lending LLC and KKR Capital Markets LLC.

 

“Affiliated Lender”
shall mean a Lender that is the Sponsor or any Affiliate thereof (other than Holdings, the Borrower, any other Subsidiary of Holdings,
or any Affiliated Institutional Lender).

 

“Agent Parties”
shall have the meaning provided in Section 13.17(b).

 

“Agents”
shall mean the Administrative Agent, the Collateral Agent and each Joint Lead Arranger and Bookrunner.

 

“Agreement”
shall mean this Credit Agreement.

 

“AHYDO”
shall have the meaning provided in the definition of Permitted Other Indebtedness.

 

“Ancillary Document”
shall have the meaning provided in Section 13.9.

 

“Anti-Corruption
Laws” shall have the meaning provided in Section 8.10.

 

“Anti-Money Laundering
Laws” shall mean the Bank Secrecy Act, as amended by the Patriot Act, and any other similar laws or regulations concerning or
relating to terrorism financing or money laundering.

 

“Applicable Margin”
shall mean a percentage per annum equal to:

 

(i)          (a) until
delivery of financial statements and a related Compliance Certificate for the first full fiscal quarter ending on or after the Sixth Amendment
Effective Date pursuant to Section 9.1, (1) for Term Benchmark Loans or RFR Loans that are Initial Term Loans, 3.25%
and (2) for ABR Loans that are Initial Term Loans, 2.25%;

 

    3

     

    

 

(b)  thereafter,
in connection with the Initial Term Loans, the percentages per annum set forth in the table below, based upon the Consolidated First Lien
Secured Debt to Consolidated EBITDA Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent
pursuant to Section 9.1:

 

	Pricing
 Level	 	Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio	 	ABR Rate Initial Term Loans	 	 	Term SOFR Rate / Daily Simple SOFR Initial Term Loans	 
	I	 	≥ 3.20x	 	 	2.25	%	 	 	3.25	%
	II	 	< 3.20x	 	 	2.00	%	 	 	3.00	%

 

(ii)          (a) until
delivery of financial statements and a related Compliance Certificate for the first full fiscal quarter ending on or after the Sixth Amendment
Effective Date pursuant to Section 9.1, (1) for Term Benchmark Loans that are Revolving Credit Loans, 2.25%, (2) for
ABR Loans or RFR Loans that are Revolving Credit Loans, 1.25%, and (3) for Letter of Credit Fees, 2.25% per annum and

 

(b) thereafter,
in connection with Revolving Credit Loans, the percentages per annum set forth in the table below, based upon the Consolidated First Lien
Secured Debt to Consolidated EBITDA Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent
pursuant to Section 9.1:

 

	Pricing
 Level	 	Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio	 	Letter of 
 Credit Fees	 	 	ABR Rate Revolving Credit Loans	 	 	Term SOFR Rate / Daily Simple SOFR Revolving Credit Loans	 
	I	 	> 3.25x	 	 	2.50	%	 	 	1.50	%	 	 	2.50	%
	II	 	< 3.25x
    but > 3.00x	 	 	2.25	%	 	 	1.25	%	 	 	2.25	%
	III	 	< 3.00x	 	 	2.00	%	 	 	1.00	%	 	 	2.00	%

 

Any increase or decrease in
the Applicable Margin for Revolving Credit Loans resulting from a change in the Consolidated First Lien Secured Debt to Consolidated EBITDA
Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant
to Section 9.1(d).

 

Notwithstanding the foregoing,
(a) the Applicable Margin in respect of any Class of Extended Revolving Credit Commitments, any Extended Revolving Credit Loans
or any Extended Term Loans shall be the applicable percentages per annum set forth in the relevant Extension Amendment, (b) the Applicable
Margin in respect of any Class of Additional Revolving Credit Commitments, any Additional Revolving Credit Loans or any Incremental
Loans shall be the applicable percentages per annum set forth in the relevant Joinder Agreement, (c) the Applicable Margin in respect
of any Class of Replacement Term Loans shall be the applicable percentages per annum set forth in the relevant agreement, (d) the
Applicable Margin in respect of any Class of Refinancing Indebtedness that would constitute Revolving Credit Commitments shall be
the applicable percentages per annum set forth in the relevant agreement, and (e) in the case of the Term Loans and any Class of
Incremental Term Loans, the Applicable Margin shall be increased as, and to the extent, necessary to comply with the provisions of Section 2.14.

 

    4

     

    

 

Notwithstanding anything to
the contrary contained above in this definition or elsewhere in this Agreement, if it is subsequently determined that the Consolidated
First Lien Secured Debt to Consolidated EBITDA Ratio set forth in any Compliance Certificate delivered to the Administrative Agent is
inaccurate for any reason and the result thereof is that the Lenders received interest or fees for any period based on an Applicable Margin
that is less than that which would have been applicable had the Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio been
accurately determined, then, for all purposes of this Agreement, the Applicable Margin for any day occurring within the period covered
by such Compliance Certificate shall retroactively be deemed to be the relevant percentage as based upon the accurately determined Consolidated
First Lien Secured Debt to Consolidated EBITDA Ratio for such period, and any shortfall in the interest or fees theretofore paid by the
Borrower for the relevant period as a result of the miscalculation of the Consolidated First Lien Secured Debt to Consolidated EBITDA
Ratio shall be deemed to be (and shall be) due and payable, at the time the interest or fees for such period were required to be paid;
provided that notwithstanding the foregoing, so long as an Event of Default described in Section 11.5 has not occurred
with respect to the Borrower, such shortfall shall be due and payable within five Business Days following the written demand thereof by
the Administrative Agent and no Default shall be deemed to have occurred as a result of such non-payment until the expiration of such
five Business Day period. In addition, at the option of the Required Revolving Credit Lenders or Required Term Loan Lenders, as applicable,
at any time during which the Borrower shall have failed to deliver any of the Section 9.1 Financials by the applicable date required
under Section 9.1, then the Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio shall be deemed to be Level
I Revolving Status and Level I Term Status, as applicable, for the purposes of determining the Applicable Margin (but only for so long
as such failure continues, after which such ratio and Status and shall be determined based on the then existing Consolidated First Lien
Secured Debt to Consolidated EBITDA Ratio).

 

“Approved Foreign
Bank” shall have the meaning provided in the definition of the term Cash Equivalents.

 

“Approved Fund”
shall mean any Fund that is administered or managed by (i) a Lender, (ii) an Affiliate of a Lender, or (iii) an entity
or an Affiliate of an entity that administers, advises or manages a Lender.

 

“Asset Sale”
shall mean:

 

(i)          the
sale, conveyance, transfer, or other disposition, whether in a single transaction or a series of related transactions, of property or
assets (including by way of a Sale Leaseback) (each a “disposition”) of Holdings or any Restricted Subsidiary, or

 

(ii)         the
issuance or sale of Equity Interests of any Restricted Subsidiary (other than preferred stock of Restricted Subsidiaries issued in compliance
with Section 10.1), whether in a single transaction or a series of related transactions, in each case, other than:

 

(a)         any
disposition of Cash Equivalents or Investment Grade Securities or obsolete, worn out or surplus property or property (including leasehold
property interests) that is no longer economically practical in its business or commercially desirable to maintain or no longer used or
useful equipment in the ordinary course of business or any disposition of inventory, immaterial assets, or goods (or other assets) in
the ordinary course of business;

 

(b)         the
disposition of all or substantially all of the assets of Holdings or the Borrower in a manner permitted pursuant to Section 10.3;

 

(c)         the
incurrence of Liens that are permitted to be incurred pursuant to Section 10.2 or the making of any Restricted Payment or
Permitted Investment (other than pursuant to clause (i) of the definition thereof) that is permitted to be made, and is made,
pursuant to Section 10.5;

 

    5

     

    

 

(d)         any
disposition of assets (whether tangible or intangible) or issuance or sale of Equity Interests of any Restricted Subsidiary in any transaction
or series of related transactions with an aggregate Fair Market Value of less than the greater of (a) $30,000,000 and (b) 10%
of Consolidated EBITDA for the most recently ended Test Period (calculated on a Pro Forma Basis) at the time of such disposition;

 

(e)         any
disposition of property or assets or issuance of securities by (1) a Restricted Subsidiary to Holdings or (2) by Holdings or
a Restricted Subsidiary to another Restricted Subsidiary;

 

(f)          to
the extent allowable under Section 1031 of the Code, or any comparable or successor provision, any exchange of like property (excluding
any boot thereon) for use in a Similar Business;

 

(g)        any
issuance, sale or pledge of Equity Interests in, or Indebtedness, or other securities of, an Unrestricted Subsidiary;

 

(h)        foreclosures,
condemnation, casualty or any similar action on assets (including dispositions in connection therewith);

 

(i)          sales
of accounts receivable, or participations therein, and related assets in connection with any Receivables Facility;

 

(j)          any
financing transaction with respect to property built or acquired by Holdings or any Restricted Subsidiary after the Closing Date, including
Sale Leasebacks and asset securitizations permitted by this Agreement;

 

(k)        (1) any
surrender or waiver of contractual rights or the settlement, release, or surrender of contractual rights or other litigation claims, (2) the
termination or collapse of cost sharing agreements with Holdings or any Subsidiary and the settlement of any crossing payments in connection
therewith, or (3) the settlement, discount, write off, forgiveness, or cancellation of any Indebtedness owing by any present or former
consultants, directors, officers, or employees of Holdings (or any direct or indirect parent company of Holdings) or any Subsidiary or
any of their successors or assigns;

 

(l)          the
disposition or discount of inventory, accounts receivable, or notes receivable in the ordinary course of business or the conversion of
accounts receivable to notes receivable;

 

(m)        the
licensing, cross-licensing or sub-licensing of Intellectual Property or other general intangibles (whether pursuant to franchise agreements
or otherwise) in the ordinary course of business;

 

(n)        the
unwinding of any Hedging Obligations or obligations in respect of Cash Management Services;

 

(o)        sales,
transfers, and other dispositions of Investments in joint ventures to the extent required by, or made pursuant to, customary buy/sell
arrangements between the joint venture parties set forth in joint venture arrangements and similar binding arrangements;

 

    6

     

    

 

(p)        the
expiration, lapse or abandonment of Intellectual Property rights in the ordinary course of business, which in the reasonable business
judgment of the Borrower are not material to the conduct of the business of Holdings and the Restricted Subsidiaries taken as a whole;

 

(q)        the
issuance of directors’ qualifying shares and shares issued to foreign nationals as required by applicable law;

 

(r)        dispositions
of property to the extent that (1) such property is exchanged for credit against the purchase price of similar replacement property
that is promptly purchased or (2) the proceeds of such disposition are promptly applied to the purchase price of such replacement
property (which replacement property is actually promptly purchased);

 

(s)         leases,
assignments, subleases, licenses, or sublicenses, in each case in the ordinary course of business and which do not materially interfere
with the business of Holdings and the Restricted Subsidiaries, taken as a whole; and

 

(t)         dispositions
of non-core assets acquired in connection with any Permitted Acquisition or Investment permitted hereunder (including to obtain the approval
of any applicable antitrust authority),

 

(u)         Restricted
Payments permitted pursuant to Section 10.5, and

 

(v)        any
other disposition in any transaction or series of transactions with an aggregate Fair Market Value of less than the greater of (a) $67,500,000
and (b) 22.5% of Consolidated EBITDA for the most recently ended Test Period (calculated on a Pro Forma Basis) at the time of such
disposition.

 

“Asset Sale Prepayment
Event” shall mean any Asset Sale subject to the Reinvestment Period allowed in Section 10.4; provided, further,
that with respect to any Asset Sale Prepayment Event, the Borrower shall not be obligated to make any prepayment otherwise required by
Section 5.2 unless and until the aggregate amount of Net Cash Proceeds from all such Asset Sale Prepayment Events, after giving
effect to the reinvestment rights set forth herein, exceeds $25,000,000 (the “Prepayment Trigger”) in any fiscal year
of Holdings, but then from all such Net Cash Proceeds (excluding amounts below the Prepayment Trigger.

 

“Assignment and Acceptance”
shall mean (i) an assignment and acceptance substantially in the form of Exhibit F, or such other form as may be approved
by the Administrative Agent and (ii) in the case of any assignment of Term Loans in connection with a Permitted Debt Exchange conducted
in accordance with Section 2.15, such form of assignment (if any) as may be agreed by the Administrative Agent and the Borrower
in accordance with Section 2.15(a).

 

“Auction Agent”
shall mean (i) the Administrative Agent or (ii) any other financial institution or advisor employed by Holdings, the Borrower,
or any Subsidiary (whether or not an Affiliate of the Administrative Agent) to act as an arranger in connection with any Permitted Debt
Exchange pursuant to Section 2.15 or Dutch auction pursuant to Section 13.6(h); provided that Holdings
shall not designate the Administrative Agent as the Auction Agent without the written consent of the Administrative Agent (it being understood
that the Administrative Agent shall be under no obligation to agree to act as the Auction Agent); provided, further, that
neither Holdings nor any of its Subsidiaries may act as the Auction Agent.

 

    7

     

    

 

“Authorized Officer”
shall mean, with respect to any Person, any individual holding the position of chairman of the board (if an officer), the Chief Executive
Officer, President, the Chief Financial Officer, the Treasurer, the Controller, the Vice President-Finance, a Director, a Manager, or
any other senior officer or agent with express authority to act on behalf of such Person designated as such by the board of directors
or other managing authority of such Person.

 

“Auto-Extension Letter
of Credit” shall have the meaning provided in Section 3.2(d).

 

“Available Amount”
shall have the meaning provided in Section 10.5(a)(iii).

 

“Available Commitment”
shall mean an amount equal to the excess, if any, of (i) the amount of the Total Revolving Credit Commitment over (ii) the sum
of the aggregate principal amount of (a) all Revolving Credit Loans (but not Swingline Loans) then outstanding and (b) the aggregate
Letters of Credit Outstanding at such time.

 

“Available Tenor”
shall mean, as of any date of determination and with respect to the then-current Benchmark, as applicable, any tenor for such Benchmark
(or component thereof) or payment period for interest calculated with reference to such Benchmark (or component thereof), as applicable,
that is or may be used for determining the length of an Interest Period for any term rate or otherwise, for determining any frequency
of making payments of interest calculated pursuant to this Agreement as of such date and not including, for the avoidance of doubt, any
tenor for such Benchmark that is then-removed from the definition of “Interest Period” pursuant to clause (a)(vi) of
Section 2.10.

 

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

 

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

 

“Bankruptcy Code”
shall have the meaning provided in Section 11.5.

 

“Benchmark”
shall mean, initially, with respect to any Term Benchmark Loan, the Term SOFR Rate; provided that if a Benchmark Transition Event,
and the related Benchmark Replacement Date have occurred with respect to the Daily Simple SOFR or Term SOFR Rate, as applicable, or the
then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement to the extent that such Benchmark Replacement
has replaced such prior benchmark rate pursuant to clause (a) of Section 2.10.

 

“Benchmark Replacement”
shall mean, for any Available Tenor, the first alternative set forth in the order below that can be determined by the Administrative Agent
for the applicable Benchmark Replacement Date:

 

(1)          the
Daily Simple SOFR;

 

    8

     

    

 

(2)          the
sum of: (a) the alternate benchmark rate that has been selected by the Administrative Agent and the Borrower as the replacement for
the then-current Benchmark for the applicable Corresponding Tenor giving due consideration to (i) any selection or recommendation
of a replacement benchmark rate or the mechanism for determining such a rate by the Governmental Authority or (ii) any evolving or
then-prevailing market convention for determining a benchmark rate as a replacement for the then-current Benchmark for dollar-denominated
syndicated credit facilities at such time in the United States and (b) the related Benchmark Replacement Adjustment;

 

If the Benchmark Replacement
as determined pursuant to clause (1) or (2) above would be less than the Floor, the Benchmark Replacement will be deemed to
be the Floor for the purposes of this Agreement and the other Credit Documents.

 

“Benchmark Replacement
Adjustment” shall mean, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement
for any applicable Interest Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement, the spread adjustment,
or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected
by the Administrative Agent and the Borrower for the applicable Corresponding Tenor giving due consideration to (i) any selection
or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such
Benchmark with the applicable Unadjusted Benchmark Replacement by the Governmental Authority on the applicable Benchmark Replacement Date
and/or (ii) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining
such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement for dollar-denominated
syndicated credit facilities at such time.

 

“Benchmark Replacement
Conforming Changes” shall mean, with respect to any Benchmark Replacement and/or any Term Benchmark Loan, any technical, administrative
or operational changes (including changes to the definition of “ABR,” the definition of “Business Day,” the definition
of “U.S. Government Securities Business Day,” the definition of “Interest Period,” timing and frequency of determining
rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, length of lookback
periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative
Agent decides may be appropriate to reflect the adoption and implementation of such Benchmark and to permit the administration thereof
by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent decides that adoption
of any portion of such market practice is not administratively feasible or if the Administrative Agent determines that no market practice
for the administration of such Benchmark exists, in such other manner of administration as the Administrative Agent decides is reasonably
necessary in connection with the administration of this Agreement and the other Credit Documents).

 

“Benchmark Replacement
Date” shall mean, with respect to any Benchmark, the earliest to occur of the following events with respect to such then-current
Benchmark:

 

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

 

    9

     

    

 

(2)          in
the case of clause (3) of the definition of “Benchmark Transition Event,” the first date on which such Benchmark (or
the published component used in the calculation thereof) has been determined and announced by the regulatory supervisor for the administrator
of such Benchmark (or such component thereof) to be no longer representative; provided, that such non-representativeness will be determined
by reference to the most recent statement or publication referenced in such clause (c) and even if any Available Tenor of such Benchmark
(or such component thereof) continues to be provided on such date.

 

For the avoidance of doubt,
(i) if the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in
respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination
and (ii) the “Benchmark Replacement Date” will be deemed to have occurred in the case of clause (1) or (2) with
respect to any Benchmark upon the occurrence of the applicable event or events set forth therein with respect to all then-current Available
Tenors of such Benchmark (or the published component used in the calculation thereof).

 

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

 

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

 

(2) a public
statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component
used in the calculation thereof), the Federal Reserve Board, the NYFRB, the CME Term SOFR Administrator, an insolvency official with jurisdiction
over the administrator for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator for such
Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for such
Benchmark (or such component), in each case, which states that the administrator of such Benchmark (or such component) has ceased or will
cease to provide all Available Tenors of such Benchmark (or such component thereof) permanently or indefinitely; provided that,
at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of
such Benchmark (or such component thereof); or

 

(3) a public
statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component
used in the calculation thereof) announcing that all Available Tenors of such Benchmark (or such component thereof) are no longer, or
as of a specified future date will no longer be, representative.

 

For the avoidance of doubt,
a “Benchmark Transition Event” will be deemed to have occurred with respect to any Benchmark if a public statement or publication
of information set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component
used in the calculation thereof).

 

“Benchmark Unavailability
Period” shall mean, with respect to any Benchmark, the period (if any) (x) beginning at the time that a Benchmark Replacement
Date pursuant to clauses (1) or (2) of that definition has occurred if, at such time, no Benchmark Replacement has replaced
such then-current Benchmark for all purposes hereunder and under any Credit Document in accordance with Section 2.10 and (y) ending
at the time that a Benchmark Replacement has replaced such then-current Benchmark for all purposes hereunder and under any Credit Document
in accordance with Section 2.10.

 

    10

     

    

 

“Beneficial Ownership
Certification” shall mean a certification regarding beneficial ownership or control as required by the Beneficial Ownership
Regulation.

 

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

 

“Benefited Lender”
shall have the meaning provided in Section 13.8(a).

 

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

 

“Borrower”
shall have the meaning given such term in the preamble to this Agreement.

 

“Borrowing”
shall mean (i) Loans of the same Class and Type, made, converted, or continued on the same date and, in the case of Term Benchmark
Loans, as to which a single Interest Period is in effect, or (ii) a Swingline Loan.

 

“Business Day”
shall mean any day (other than a Saturday or a Sunday) on which banks are open for business in New York City or Chicago; provided
that, in relation to Term Benchmark Loans and any interest rate settings, fundings, disbursements, settlements or payments of any such
Term Benchmark Loan, or any other dealings of such RFR Loan, any such day that is only an U.S. Government Securities Business Day.

 

“Capital Expenditures”
shall mean, for any period, the aggregate of all expenditures (whether paid in cash or accrued as liabilities and including in all events
all amounts expended or capitalized under Capital Leases) by Holdings and the Restricted Subsidiaries during such period that, in conformity
with GAAP, are or are required to be included as additions during such period to property, plant, or equipment reflected in the consolidated
balance sheet of Holdings and the Restricted Subsidiaries (including Capitalized Software Expenditures, website development costs, website
content development costs, customer acquisition costs and incentive payments, conversion costs, and contract acquisition costs).

 

“Capital Lease”
shall mean, as applied to any Person, any lease of any property (whether real, personal, or mixed) by that Person as lessee that, in conformity
with GAAP, is, or is required to be, accounted for as a capital lease on the balance sheet of that Person; provided that all leases
of any Person that are or would be characterized as operating leases in accordance with GAAP immediately prior to December 31, 2018
(whether or not such operating leases were in effect on such date) shall continue to be accounted for as operating leases (and not as
Capital Leases) for purposes of this Agreement regardless of any change in GAAP following the date that would otherwise require such leases
to be recharacterized as Capital Leases.

 

“Capital Stock”
shall mean (i) in the case of a corporation, corporate stock, (ii) in the case of an association or business entity, any and
all shares, interests, participations, rights, or other equivalents (however designated) of corporate stock, (iii) in the case of
a partnership or limited liability company, partnership or membership interests (whether general or limited), and (iv) any other
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 (it being understood and agreed, for the avoidance of doubt, that “cash-settled phantom appreciation programs”
in connection with employee benefits that do not require a dividend or distribution shall not constitute Capital Stock).

 

    11

     

    

 

“Capitalized Lease
Obligation” shall mean, at the time any determination thereof is to be made, the amount of the liability in respect of a Capital
Lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto)
prepared in accordance with GAAP; provided that all obligations of any Person that are or would be characterized as operating lease
obligations in accordance with GAAP immediately prior to December 31, 2018 (whether or not such operating lease obligations were
in effect on such date) shall continue to be accounted for as operating lease obligations (and not as Capitalized Lease Obligations) for
purposes of this Agreement regardless of any change in GAAP following the date that would otherwise require such obligations to be recharacterized
as Capitalized Lease Obligations.

 

“Capitalized Software
Expenditures” shall mean, for any period, the aggregate of all expenditures (whether paid in cash or accrued as liabilities)
by Holdings, the Borrower and the Restricted Subsidiaries during such period in respect of purchased software or internally developed
software and software enhancements that, in conformity with GAAP, are or are required to be reflected as capitalized costs on the consolidated
balance sheet of Holdings, the Borrower and the Restricted Subsidiaries.

 

“Cash Collateral”
shall have a meaning correlative to the definition of Cash Collateralize and shall include the proceeds of such cash collateral and other
credit support.

 

“Cash Collateralize”
shall mean to pledge and deposit with or deliver to the Administrative Agent, for the benefit of one or more of the Letter of Credit Issuer
or the Revolving Credit Lenders, as collateral for L/C Obligations or obligations of the Revolving Credit Lenders to fund participations
in respect of L/C Obligations, cash or deposit account balances or, if the Administrative Agent and the Letter of Credit Issuer shall
agree in their sole discretion, other credit support.

 

“Cash Equivalents”
shall mean:

 

(i)          Dollars,

 

(ii)         (a) Euro,
Pounds Sterling, Canadian Dollars, or any national currency of any Participating Member State in the European Union or (b) local
currencies held from time to time in the ordinary course of business,

 

(iii)         securities
issued or directly and fully and unconditionally guaranteed or insured by the United States government or any country that is a member
state of the European Union or any agency or instrumentality thereof the securities of which are unconditionally guaranteed as a full
faith and credit obligation of such government with average maturities of 24 months or less from the date of acquisition,

 

(iv)        certificates
of deposit, time deposits, and eurodollar time deposits with average maturities of one year or less from the date of acquisition, bankers’
acceptances with average maturities not exceeding one year, and overnight bank deposits, in each case with any commercial bank having
capital and surplus of not less than $100,000,000 (or the Dollar Equivalent as of the date of determination in the case of foreign banks),

 

(v)         repurchase
obligations for underlying securities of the types described in clauses (iii), (iv), and (x) entered into with
any financial institution meeting the qualifications specified in clause (iv) above,

 

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(vi)        commercial
paper rated at least P-2 by Moody’s or at least A-2 by S&P after the date of creation thereof and variable and fixed rate notes
issued by a financial institution meeting the qualifications specified in clause (iv) above, in each case with average maturities
of 36 months after the date of creation thereof,

 

(vii)       marketable
short-term money market and similar securities having a rating of at least P-2 or A-2 from either Moody’s or S&P, respectively
(or, if at any time neither Moody’s nor S&P shall be rating such obligations, an equivalent rating from another nationally recognized
ratings agency),

 

(viii)      readily
marketable direct obligations issued by any state, commonwealth, or territory of the United States or any political subdivision or taxing
authority thereof having one of the two highest rating categories obtainable from either Moody’s or S&P (or, if at any time
neither Moody’s nor S&P shall be rating such obligations, an equivalent rating from another rating agency) with average maturities
of 36 months or less from the date of acquisition,

 

(ix)        Indebtedness
or preferred stock issued by Persons with a rating of “A” or higher from S&P or “A2” or higher from Moody’s
(or, if at any time neither Moody’s nor S&P shall be rating such obligations, an equivalent rating from another rating agency)
with average maturities of 36 months or less from the date of acquisition,

 

(x)         solely
with respect to any Foreign Subsidiary: (a) obligations of the national government of the country in which such Foreign Subsidiary
maintains its chief executive office and principal place of business provided such country is a member of the Organization for Economic
Cooperation and Development, in each case maturing within one year after the date of investment therein, (b) certificates of deposit
of, bankers acceptances of, or time deposits with, any commercial bank which is organized and existing under the laws of the country in
which such Foreign Subsidiary maintains its chief executive office and principal place of business provided such country is a member of
the Organization for Economic Cooperation and Development, and whose short-term commercial paper rating from S&P is at least “A-2”
or the equivalent thereof or from Moody’s is at least “P-2” or the equivalent thereof (any such bank being an “Approved
Foreign Bank”), and in each case with maturities of not more than 24 months from the date of acquisition, and (c) the equivalent
of demand deposit accounts which are maintained with an Approved Foreign Bank, in each case, customarily used by corporations for cash
management purposes in any jurisdiction outside the United States to the extent reasonably required in connection with any business conducted
by such Foreign Subsidiary organized in such jurisdiction,

 

(xi)        in the
case of investments by any Foreign Subsidiary or investments made in a country outside the United States, Cash Equivalents shall also
include investments of the type and maturity described in clauses (i) through (ix) above of foreign obligors,
which investments have ratings, described in such clauses or equivalent ratings from comparable foreign rating agencies,

 

(xii)       investment
funds investing 90% of their assets in securities of the types described in clauses (i) through (xi) above, and

 

(xiii)      Investments,
classified in accordance with GAAP as current assets, in money market investment programs that are registered under the Investment Company
Act of 1940 or that are administered by financial institutions meeting the qualifications specified in clause (iv) above,
and, in either case, the portfolios of which are limited such that substantially all of such Investments are of the character, quality
and maturity described in clauses (i) through (xii) of this definition.

 

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Notwithstanding the foregoing,
Cash Equivalents shall include amounts denominated in currencies other than those set forth in clauses (i) and (ii) above;
provided that such amounts are converted into any currency listed in clauses (i) and (ii) as promptly as
practicable and in any event within ten Business Days following the receipt of such amounts.

 

For the avoidance of doubt,
any items identified as Cash Equivalents under this definition will be deemed to be Cash Equivalents for all purposes under the Credit
Documents regardless of the treatment of such items under GAAP.

 

“Cash Management
Agreement” shall mean any agreement or arrangement to provide Cash Management Services.

 

“Cash Management
Bank” shall mean (i) any Person that, at the time it enters into a Cash Management Agreement with the Borrower or any Restricted
Subsidiary, is an Agent or a Lender or an Affiliate of an Agent or a Lender or (ii) with respect to any Cash Management Agreement
entered into prior to the Closing Date, any Person that is a Lender or an Affiliate of a Lender on the Closing Date or designated by the
Borrower as a “Cash Management Bank” by written notice to the Administrative Agent.

 

“Cash Management
Services” shall mean any one or more of the following types of services or facilities: (i) commercial credit cards, merchant
card services, purchase or debit cards, including non-card e-payables services, or electronic funds transfer services, (ii) treasury
management services (including controlled disbursement, overdraft automatic clearing house fund transfer services, return items, and interstate
depository network services), (iii) any other demand deposit or operating account relationships or other cash management services,
including pursuant to any Cash Management Agreements and (iv) and other services related, ancillary or complementary to the foregoing.

 

“Casualty Event”
shall mean, with respect to any property of any Person, any loss of or damage to, or any condemnation or other taking by a Governmental
Authority of, such property for which such Person or any of its Restricted Subsidiaries receives insurance proceeds or proceeds of a condemnation
award in respect of any equipment, fixed assets, or real property (including any improvements thereon) to replace or repair such equipment,
fixed assets, or real property; provided, further, that with respect to any Casualty Event, the Borrower shall not be obligated
to make any prepayment otherwise required by Section 5.2 unless and until the aggregate amount of Net Cash Proceeds from all
such Casualty Events, after giving effect to the reinvestment rights set forth herein, exceeds $25,000,000 (the “Casualty Prepayment
Trigger”) in any fiscal year of Holdings, but then from all such Net Cash Proceeds (excluding amounts below the Casualty Prepayment
Trigger); provided that for the fiscal year of Holdings ending September 30, 2018, Net Cash Proceeds during the fiscal quarter ended
December 31, 2017, shall be excluded from such calculation.

 

“Casualty Prepayment
Trigger” shall have the meaning provided in the definition of the term Casualty Event.

 

“CFC” shall
mean a direct or indirect Subsidiary of the Borrower that is a “controlled foreign corporation” within the meaning of Section 957
of the Code.

 

“CFC Holding Company”
shall mean a direct or indirect Domestic Subsidiary of the Borrower substantially all of the assets of which consist of Capital Stock,
Stock Equivalents and/or Indebtedness of one or more CFCs.

 

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“Change in Law”
shall mean (i) the adoption of any law, treaty, order, policy, rule, or regulation after the Closing Date, (ii) any change in
any law, treaty, order, policy, rule, or regulation or in the interpretation or application thereof by any Governmental Authority after
the Closing Date or (iii) compliance by any Lender with any guideline, request, directive, or order issued or made after the Closing
Date by any central bank or other governmental or quasi-governmental authority (whether or not having the force of law), including, for
avoidance of doubt any such adoption, change or compliance in respect of (a) the Dodd-Frank Wall Street Reform and Consumer Protection
Act and all requests, rules, regulations, guidelines, or directives thereunder or issued in connection therewith and (b) all requests,
rules, guidelines, requirements, or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision
(or any successor or similar authority), or the United States or foreign regulatory authorities pursuant to Basel III.

 

“Change of Control”
shall mean and be deemed to have occurred if any Person, entity, or “group” (within the meaning of Section 13(d) or
14(d) of the Securities Exchange Act), other than the Permitted Holders, shall at any time have acquired direct or indirect beneficial
ownership of a percentage of the voting power of the outstanding Voting Stock of Holdings that exceeds 35% thereof, unless the Permitted
Holders have, at such time, the right or the ability by voting power, contract, or otherwise to elect or designate for election at least
a majority of the board of directors of Holdings. For the purpose of this definition, at any time when a majority of the outstanding Voting
Stock of the Borrower is directly or indirectly owned by a Parent Entity or, if applicable, a Parent Entity acts as the manager, managing
member or general partner of the Borrower, references in this definition to “Borrower” shall be deemed to refer to the ultimate
Parent Entity that directly or indirectly owns such Voting Stock or acts as (or, if applicable, is a Parent Entity that directly or indirectly
owns a majority of the outstanding Voting Stock of) such manager, managing member or general partner. For purposes of this definition,
(i) “beneficial ownership” shall be as defined in Rules 13(d)-3 and 13(d)-5 under the Securities Exchange Act, (ii) the
phrase Person or “group” is within the meaning of Section 13(d) or 14(d) of the Securities Exchange Act, but
excluding any employee benefit plan of such Person or “group” and its subsidiaries and any Person acting in its capacity as
trustee, agent or other fiduciary or administrator of any such plan, (iii) if any Person or “group” includes one or more
Permitted Holders, the issued and outstanding Equity Interests of the Borrower, directly or indirectly owned by the Permitted Holders
that are part of such Person or “group” shall not be treated as being owned by such Person or “group” for purposes
of determining whether clause (ii) of this definition is triggered and (iv) a Person or group shall not be deemed to
beneficially own Voting Stock subject to a stock or asset purchase agreement, merger agreement, option agreement, warrant agreement or
similar agreement (or voting or option or similar agreement related thereto) until the consummation of the acquisition of the Voting Stock
in connection with the transactions contemplated by such agreement.

 

“Class”
(i) when used in reference to any Loan or Borrowing, shall refer to whether such Loan, or the Loans comprising such Borrowing, are
Revolving Credit Loans, Additional Revolving Credit Loans, New Revolving Credit Loans, Initial Term Loans, New Term Loans (of each
Series), Extended Term Loans (of the same Extension Series), Replacement Term Loans (of the same series), Extended Revolving Credit Loans
(of the same Extension Series), or Swingline Loans and (ii) when used in reference to any Commitment, refers to whether such Commitment
is a Revolving Credit Commitment, an Additional Revolving Credit Commitment, a New Revolving Credit Commitment, an Extended Revolving
Credit Commitment (of the same Extension Series), or a New Term Loan Commitment.

 

“Closing Date”
shall mean December 18, 2013.

 

“CME Term SOFR Administrator”
shall mean CME Group Benchmark Administration Limited as administrator of the forward-looking term Secured Overnight Financing Rate (SOFR)
(or a successor administrator).

 

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

 

“Collateral”
shall mean all property pledged or mortgaged or purported to be pledged or mortgaged pursuant to the Security Documents, excluding in
all events Excluded Property.

 

“Collateral Agent”
shall mean JPMorgan Chase Bank, N.A., as collateral agent under the Security Documents, or any successor collateral agent pursuant to
Section 12.9, and any Affiliate or designee of JPMorgan Chase Bank, N.A. may act as the Collateral Agent under any Credit
Document.

 

“Commitment Fee”
shall have the meaning provided in Section 4.1(a).

 

“Commitment Fee Rate”
shall mean (a) until delivery of financial statements and a related Compliance Certificate for the first fiscal quarter ending on
or after the Sixth Amendment Effective Date pursuant to Section 9.1, a rate per annum equal to Level II Status, and (b) thereafter,
a rate per annum set forth below opposite the Status in effect on such day:

 

	Status	Commitment Fee Rate
	 	 
	Level I Status	0.375%
	 	 
	Level II Status	0.25%

 

Any increase or decrease in
the Commitment Fee Rate resulting from a change in the Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio shall become
effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 9.1(d).

 

Notwithstanding the foregoing,
(a) the Commitment Fee Rate in respect of any Class of Extended Revolving Credit Commitments or any Extended Revolving Credit
Loans shall be the applicable percentages per annum set forth in the relevant Extension Amendment, (b) the Commitment Fee Rate in
respect of any Class of Additional Revolving Credit Commitments, any Additional Revolving Credit Loans or any Incremental Loans shall
be the applicable percentages per annum set forth in the relevant Joinder Agreement and (c) the Commitment Fee Rate in respect of
any Class of Refinancing Indebtedness that would constitute Revolving Credit Commitments shall be the applicable percentages per
annum set forth in the relevant agreement.

 

Notwithstanding anything to
the contrary contained above in this definition or elsewhere in this Agreement, if it is subsequently determined that the Consolidated
First Lien Secured Debt to Consolidated EBITDA Ratio set forth in any Compliance Certificate delivered to the Administrative Agent is
inaccurate for any reason and the result thereof is that the Lenders received interest or fees for any period based on an Commitment Fee
Rate that is less than that which would have been applicable had the Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio
been accurately determined, then, for all purposes of this Agreement, the Commitment Fee Rate for any day occurring within the period
covered by such Compliance Certificate shall retroactively be deemed to be the relevant percentage as based upon the accurately determined
Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio for such period and any shortfall in the interest or fees theretofore
paid by any Borrower for the relevant period as a result of the miscalculation of the Consolidated First Lien Secured Debt to Consolidated
EBITDA Ratio shall be deemed to be (and shall be) due and payable at the time the interest or fees for such period were required to be
paid; provided that notwithstanding the foregoing, so long as an Event of Default described in Section 11.5 has not
occurred with respect to the Borrowers, such shortfall shall be due and payable within five Business Days following the written demand
thereof by the Administrative Agent and no Default shall be deemed to have occurred as a result of such non-payment until the expiration
of such five Business Day period. In addition, at the option of the Required Revolving Credit Lenders, at any time during which the Borrowers
shall have failed to deliver any of the Section 9.1 Financials by the applicable date required under Section 9.1, then
the Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio shall be deemed to be in Level I Status for the purposes of determining
the Commitment Fee Rate (but only for so long as such failure continues, after which such ratio and Status and shall be determined based
on the then existing Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio). “Commitments” shall mean, with respect
to each Lender (to the extent applicable), such Lender’s Initial Term Loan Commitment, New Term Loan Commitment, Revolving Credit
Commitment, New Revolving Credit Commitment, Extended Revolving Credit Commitment, Additional Revolving Credit Commitment or Incremental
Revolving Credit Commitment.

 

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“Commitments”
shall mean, with respect to each Lender (to the extent applicable), such Lender’s Revolving Credit Commitment, New Revolving Credit
Commitment, Extended Revolving Credit Commitment, Additional Revolving Credit Commitment, or New Term Loan Commitment.

 

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

 

“Communications”
shall have the meaning provided in Section 13.17(a).

 

“Compliance Certificate”
shall mean a certificate of a responsible financial or accounting officer of Holdings or the Borrower delivered pursuant to Section 9.1(d) for
the applicable Test Period.

 

“Compliance Period”
shall mean any period during which the sum of (i) the aggregate principal amount of all Revolving Credit Loans, (ii) Swingline
Loans then outstanding, and (iii) the aggregate face amount of Letters of Credit then outstanding (other than (a) Cash Collateralized
Letters of Credit and (b) non-Cash Collateralized Letters of Credit in an aggregate face amount not to exceed $50,000,000) at such
time exceeds 35.0% of the amount of the Total Revolving Credit Commitment.

 

“Confidential Information”
shall have the meaning provided in Section 13.16.

 

“Confidential Information
Memorandum” shall mean the Confidential Information Memorandum of Holdings dated December 3, 2013.

 

“Consolidated Depreciation
and Amortization Expense” shall mean with respect to any Person for any period, the total amount of depreciation and amortization
expense, including the amortization of deferred financing fees or costs, debt issuance costs, commissions, fees, and expenses, capitalized
expenditures (including Capitalized Software Expenditures), customer acquisition costs, the amortization of original issue discount resulting
from the issuance of Indebtedness at less than par and incentive payments, conversion costs, and contract acquisition costs of such Person
and its Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in accordance with GAAP.

 

“Consolidated EBITDA”
shall mean, with respect to any Person and its Restricted Subsidiaries on a consolidated basis for any period, the Consolidated Net Income
of such Person for such period:

 

(i)          increased
(without duplication) by:

 

(a)          provision
for taxes based on income or profits or capital, including, without limitation, U.S. federal, state, non-U.S., franchise, excise, value
added, and similar taxes and foreign withholding taxes of such Person paid or accrued during such period, including any penalties and
interest related to such taxes or arising from any tax examinations, in each case to the extent deducted (and not added back) in computing
Consolidated Net Income, plus

 

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(b)          Fixed
Charges of such Person for such period (including (1) net losses on Hedging Obligations or other derivative instruments entered into
for the purpose of hedging interest rate risk and (2) costs of surety bonds in connection with financing activities, in each case,
to the extent included in Fixed Charges), together with items excluded from the definition of Consolidated Interest Expense and any non-cash
interest expense, in each case to the extent the same were deducted (and not added back) in calculating such Consolidated Net Income,
plus

 

(c)          Consolidated
Depreciation and Amortization Expense of such Person for such period to the extent the same were deducted (and not added back) in computing
Consolidated Net Income, plus

 

(d)          any
expenses, fees, charges, or losses (other than depreciation or amortization expense) related to any Equity Offering, Permitted Investment,
Restricted Payment, acquisition, disposition, recapitalization, or the incurrence of Indebtedness permitted to be incurred by this Agreement
(including a refinancing thereof) (whether or not successful and including any such transaction consummated prior to the Closing Date),
including (1) all Transaction Expenses, (2) such fees, expenses, or charges related to the offering of the Credit Documents
and any other credit facilities or debt issuances, and (3) any amendment or other modification of the Loans hereunder or other Indebtedness,
and, in each case, deducted (and not added back) in computing Consolidated Net Income, plus

 

(e)          any
other non-cash charges, including any write offs, write downs, expenses, losses, any effects of adjustments resulting from the application
of purchase accounting, purchase price accounting (including any step-up in inventory and loss of profit on the acquired inventory) or
other items to the extent the same were deducted (and not added back) in computing Consolidated Net Income (provided that if any
such non-cash charges represent an accrual or reserve for potential cash items in any future period, the cash payment in respect thereof
in such future period shall be deducted from Consolidated EBITDA to such extent, and excluding amortization of a prepaid cash item that
was paid in a prior period), plus

 

(f)          the
amount of any net income (loss) attributable to non controlling interests in any non-Wholly-Owned Subsidiary deducted (and not added back)
in such period in calculating Consolidated Net Income, plus

 

(g)          the
amount of management, monitoring, consulting, and advisory fees (including termination fees) and related indemnities and expenses paid
or accrued in such period to the Initial Investors or any of their respective Affiliates, plus

 

(h)          costs
of surety bonds incurred in such period in connection with financing activities, plus

 

(i)          the
amount of reasonably identifiable and factually supportable “run-rate” cost savings, operating expense reductions, operating
enhancements and other synergies that are projected by the Borrower in good faith to result from actions either taken or expected to be
taken within 24 months of the determination to take such action, net of the amount of actual benefits realized prior to or during such
period from such actions (which cost savings, operating expense reductions, operating enhancements and synergies shall be calculated on
a Pro Forma Basis as though such cost savings, operating expense reductions, operating enhancements or synergies had been realized on
the first day of such period), plus

 

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(j)          the
amount of loss or discount on sale of receivables and related assets to the Receivables Subsidiary in connection with a Receivables Facility,
plus

 

(k)          any
costs or expense incurred by Holdings or a Restricted Subsidiary pursuant to any management equity plan or stock option or phantom equity
plan or any other management or employee benefit plan or agreement or any stock subscription or shareholder agreement, to the extent that
such cost or expenses are funded with cash proceeds contributed to the capital of Holdings or net cash proceeds of an issuance of Equity
Interests of Holdings (other than Disqualified Stock) solely to the extent that such net cash proceeds are excluded from the calculation
set forth in Section 10.5(a)(iii) and have not been relied on for purposes of any incurrence of Indebtedness pursuant
to Section 10.1(l)(i), plus

 

(l)          the
amount of expenses relating to payments made to option, phantom equity or profits interest holders of any direct or indirect parent company
of Holdings or any of its direct or indirect parent companies in connection with, or as a result of, any distribution being made to shareholders
of such Person or its direct or indirect parent companies, which payments are being made to compensate such option, phantom equity or
profits interest holders as though they were equity holders at the time of, and entitled to share in, such distribution, in each case
to the extent permitted under this Agreement and expenses relating to distributions made to equity holders of such Person or its direct
or indirect parent companies resulting from the application of Financial Accounting Standards Codification Topic 718— Compensation
 – Stock Compensation (formerly Financial Accounting Standards Board Statement No. 123 (Revised 2004)), plus

 

(m)          with
respect to any joint venture that is not a Restricted Subsidiary, an amount equal to the proportion of those items described in clauses
(a) and (c) above relating to such joint venture corresponding to Holdings’ and the Restricted Subsidiaries’
proportionate share of such joint venture’s Consolidated Net Income (determined as if such joint venture were a Restricted Subsidiary),
plus

 

(n)          costs
associated with, or in anticipation of, or preparation for, compliance with the requirements of the Sarbanes-Oxley Act of 2002 and the
rules and regulations promulgated in connection therewith and Public Company Costs, plus

 

(o)          cash
receipts (or any netting arrangements resulting in reduced cash expenses) not included in Consolidated EBITDA in any period solely to
the extent that the corresponding non-cash gains relating to such receipts were deducted in the calculation of Consolidated EBITDA pursuant
to paragraph (ii) below for any previous period and not added back, plus

 

(p)          to
the extent not already included in the Consolidated Net Income, (1) any expenses and charges that are reimbursed by indemnification
or other similar provisions in connection with any investment or any sale, conveyance, transfer, or other Asset Sale of assets permitted
hereunder and (2) to the extent covered by insurance and actually reimbursed, or, so long as the Borrower has made a determination
that there exists reasonable evidence that such amount will in fact be reimbursed by the insurer and only to the extent that such amount
is (A) not denied by the applicable carrier in writing within 180 days and (B) in fact reimbursed within 365 days of the date
of the determination by the Borrower that there exists such evidence (with a deduction for any amount so added back to the extent not
so reimbursed within such 365 days), expenses with respect to liability or casualty events or business interruption, plus

 

     19

    

    

 

(q)          for
any Test Period, the aggregate amount of “run-rate” Consolidated Net Income projected by the Borrower in good faith to be
attributable to New Contracts entered into during such Test Period (or following such Test Period but prior to the date for the delivery
of the financial statements for such Test Period pursuant to Section 9.1(a) or (b)) (which amount shall be calculated
on a Pro Forma Basis as though the full annual amount of such Consolidated Net Income attributable to such New Contracts had been realized
during such Test Period (without duplication of any amounts attributable to such New Contracts already received in such Test Period)),
plus

 

(r)          charges,
expenses, and other items described in the Confidential Information Memorandum or the Sponsor Model, plus

 

(s)          any
net pension or other post employment benefit costs representing amortization of unrecognized prior service costs, actuarial losses, including
amortization of such amounts arising in prior periods, amortization of the unrecognized net obligation (and loss or cost) existing at
the date of initial application of FASB Accounting Standards Codification Topic 715—Compensation—Retirement Benefits, and
any other items of a similar nature, plus

 

(ii)          decreased
by (without duplication):

 

(a)          non-cash
gains increasing Consolidated Net Income of such Person for such period, excluding any non-cash gains which represent the reversal of
any accrual of, or cash reserve for, anticipated cash charges that reduced Consolidated EBITDA in any prior period other than non-cash
gains relating to the application of Financial Accounting Standards Codification Topic 840— Leases (formerly Financial Accounting
Standards Board Statement No. 13); provided that, to the extent non cash gains are deducted pursuant to this clause (ii)(a) for
any previous period and not otherwise added back to Consolidated EBITDA, Consolidated EBITDA shall be increased by the amount of any cash
receipts (or any netting arrangements resulting in reduced cash expenses) in respect of such non cash gains received in subsequent periods
to the extent not already included therein, plus

 

(b)          for
any Test Period, the aggregate amount of “run-rate” Consolidated Net Income attributable to Terminated Contracts that have
terminated or expired during such Test Period (or following such Test Period but prior to the date for delivery of the financial statements
for such Test Period pursuant to Section 9.1(a) or (b)) (which amount shall be calculated on a Pro Forma Basis
so as to eliminate the full annual amount of such Consolidated Net Income attributable to such Terminated Contracts during such Test Period),
plus

 

(iii)          increased
or decreased by (without duplication):

 

(a)          any
net gain or loss resulting in such period from currency gains or losses related to Indebtedness, intercompany balances, and other balance
sheet items, plus or minus, as the case may be, and

 

(b)          any
net gain or loss resulting in such period from Hedging Obligations, and the application of Financial Accounting Standards Codification
Topic 815—Derivatives and Hedging (ASC 815) (formerly Financing Accounting Standards Board Statement No. 133), and its related
pronouncements and interpretations, or the equivalent accounting standard under GAAP or an alternative basis of accounting applied in
lieu of GAAP.

 

     20

    

    

 

For the avoidance of doubt:

 

(i)          to
the extent included in Consolidated Net Income, there shall be excluded in determining Consolidated EBITDA for any period any adjustments
resulting from the application of ASC 815 and its related pronouncements and interpretations, or the equivalent accounting standard under
GAAP or an alternative basis of accounting applied in lieu of GAAP;

 

(ii)         there
shall be included in determining Consolidated EBITDA for any period, without duplication, (1) the Acquired EBITDA of any Person or
business, or attributable to any property or asset acquired by Holdings or any Restricted Subsidiary during such period (but not the Acquired
EBITDA of any related Person or business or any Acquired EBITDA attributable to any assets or property, in each case to the extent not
so acquired) to the extent not subsequently sold, transferred, abandoned, or otherwise disposed by Holdings or such Restricted Subsidiary
(each such Person, business, property, or asset acquired and not subsequently so disposed of, an “Acquired Entity or Business”)
and the Acquired EBITDA of any Unrestricted Subsidiary that is converted into a Restricted Subsidiary during such period (each, a “Converted
Restricted Subsidiary”), based on the actual Acquired EBITDA of such Acquired Entity or Business or Converted Restricted Subsidiary
for such period (including the portion thereof occurring prior to such acquisition or conversion) and (2) an adjustment in respect
of each Acquired Entity or Business equal to the amount of the Pro Forma Adjustment with respect to such Acquired Entity or Business for
such period (including the portion thereof occurring prior to such acquisition); and

 

(iii)        to
the extent included in Consolidated Net Income, there shall be excluded in determining Consolidated EBITDA for any period the Disposed
EBITDA of any Person, property, business, or asset sold, transferred, abandoned, or otherwise disposed of, closed or classified as discontinued
operations by Holdings or any Restricted Subsidiary during such period (each such Person, property, business, or asset so sold or disposed
of, a “Sold Entity or Business”), and the Disposed EBITDA of any Restricted Subsidiary that is converted into an Unrestricted
Subsidiary during such period (each, a “Converted Unrestricted Subsidiary”) based on the actual Disposed EBITDA of
such Sold Entity or Business or Converted Unrestricted Subsidiary for such period (including the portion thereof occurring prior to such
sale, transfer, or disposition or conversion); provided that for the avoidance of doubt, notwithstanding any classification under
GAAP of any Person or business in respect of which a definitive agreement for the disposition thereof has been entered into as discontinued
operations, the Disposed EBITDA of such Person or business shall not be excluded pursuant to this paragraph until such disposition shall
have been consummated.

 

Unless expressly specified otherwise or required
by context, references in this Agreement to Consolidated EBITDA shall refer to the Consolidated EBITDA of Holdings.

 

“Consolidated First
Lien Secured Debt” shall mean Consolidated Total Debt as of such date secured by a Lien on all of the Collateral that ranks
on an equal priority basis (or super priority basis by operation of law) (but without regard to the control of remedies) with Liens on
the Collateral securing the Obligations and excluding, for the avoidance of doubt, Hedging Obligations); provided that Consolidated
First Lien Secured Debt shall not include Letters of Credit, except to the extent of Unpaid Drawings thereunder.

 

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“Consolidated First
Lien Secured Debt to Consolidated EBITDA Ratio” shall mean, as of any date of determination, the ratio of (i) Consolidated
First Lien Secured Debt as of such date of determination, minus cash and Cash Equivalents (in each case, free and clear of all
Liens other than Permitted Liens) of Holdings and the Restricted Subsidiaries (other than the proceeds of any Indebtedness being incurred
and giving rise to the need to calculate the Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio) to (ii) Consolidated
EBITDA of Holdings for the Test Period most recently ended on or prior to such date of determination, in each case with such pro forma
adjustments to Consolidated First Lien Secured Debt and Consolidated EBITDA as are appropriate and consistent with Section 1.12.

 

“Consolidated Interest
Expense” shall mean the sum of cash interest expense (including that attributable to Capitalized Lease Obligations), net of
cash interest income of such Person and its Restricted Subsidiaries with respect to all outstanding Indebtedness of such Person and its
Restricted Subsidiaries, including all commissions, discounts and other fees and charges owed with respect to letters of credit and bankers’
acceptance financing and net costs under hedging agreements, but excluding, for the avoidance of doubt, (a) amortization of deferred
financing costs, debt issuance costs, commissions, fees and expenses and any other amounts of non cash interest (including as a result
of the effects of acquisition method accounting or pushdown accounting), (b) non cash interest expense attributable to the movement
of the mark to market valuation of Indebtedness or obligations under Hedging Obligations or other derivative instruments pursuant to FASB
Accounting Standards Codification Topic 815—Derivatives and Hedging, (c) any one time cash costs associated with breakage in
respect of hedging agreements for interest rates, (d) commissions, discounts, yield, make whole premium and other fees and charges
(including any interest expense) incurred in connection with any Receivables Facility, (e) any “additional interest”
owing pursuant to a registration rights agreement with respect to any securities, (f) any payments with respect to make whole premiums
or other breakage costs of any Indebtedness, including, without limitation, any Indebtedness issued in connection with the Transactions,
(g) penalties and interest relating to taxes, (h) accretion or accrual of discounted liabilities not constituting Indebtedness,
(i) interest expense attributable to a direct or indirect Parent Entity resulting from push down accounting, (j) any expense
resulting from the discounting of Indebtedness in connection with the application of recapitalization or purchase accounting, and (k) any
interest expense attributable to the exercise of appraisal rights and the settlement of any claims or actions (whether actual, contingent
or potential), with respect thereto and with respect to the Transactions, any acquisition or Investment permitted hereunder, all as calculated
on a consolidated basis.

 

For purposes of this definition,
interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by such Person to be the
rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP.

 

“Consolidated Net
Income” shall mean, with respect to any Person for any period, the aggregate of the Net Income, of such Person and its Restricted
Subsidiaries for such period, on a consolidated basis, and on an after tax basis to the extent appropriate, and otherwise determined in
accordance with GAAP; provided that, without duplication,

 

(i)          extraordinary,
non-recurring or unusual gains or losses (less all fees and expenses relating thereto) or expenses (including any unusual or non-recurring
operating expenses directly attributable to the implementation of cost savings initiatives and any accruals or reserves in respect of
any extraordinary, non-recurring or unusual items), severance, relocation costs, integration and facilities’ or bases’ opening
or closing costs and other business optimization expenses (including related to new product introductions and other strategic or cost
savings initiatives), restructuring charges, accruals or reserves (including restructuring and integration costs related to acquisitions
and adjustments to existing reserves), whether or not classified as restructuring expense on the consolidated financial statements, signing
costs, retention or completion bonuses, and one-time compensation charges other executive recruiting and retention costs, transition costs,
costs related to closure/consolidation of facilities or bases and curtailments or modifications to pension and post retirement employee
benefit plans (including any settlement of pension liabilities and charges resulting from changes in estimates, valuations and judgments)
and (b) any other unusual or non-recurring items shall be excluded,

 

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(ii)         the
Net Income for such period shall not include the cumulative effect of a change in accounting principles and changes as a result of the
adoption or modification of accounting policies during such period shall be excluded,

 

(iii)        any
net after-tax gains or losses on disposal of disposed, abandoned, transferred, closed, or discontinued operations, and any gain (loss)
(less all fees and expenses relating thereto) on asset sales, disposals or abandonments (other than asset sales, disposals or abandonments
in the ordinary course of business) or discontinued operations (but if such operations are classified as discontinued due to the fact
that they are subject to an agreement to dispose of such operations, only when and to the extent such operations are actually disposed
of) shall be excluded,

 

(iv)        any
effect of gains or losses (less all fees and expenses relating thereto) attributable to asset dispositions or abandonments other than
in the ordinary course of business, as determined in good faith by the board of directors of Holdings, shall be excluded,

 

(v)         the
Net Income for such period of any Person that is not the Borrower or Subsidiary, or is an Unrestricted Subsidiary, or that is accounted
for by the equity method of accounting, shall be excluded; provided that Consolidated Net Income of Holdings shall be increased
by the amount of dividends or distributions or other payments that are actually paid in cash (or to the extent converted into cash or
Cash Equivalents) to the referent Person or a Restricted Subsidiary thereof in respect of such period,

 

(vi)        solely
for the purpose of determining the amount available for Restricted Payments under clause (a)(iii)(A) of Section 10.5
the Net Income for such period of any Restricted Subsidiary (other than any Guarantor) shall be excluded to the extent the declaration
or payment of dividends or similar distributions by that Restricted Subsidiary of its Net Income is not at the date of determination permitted
without any prior governmental approval (which has not been obtained) or, directly or indirectly, by the operation of the terms of its
charter or any agreement, instrument, judgment, decree, order, statute, rule, or governmental regulation applicable to that Restricted
Subsidiary or its equity holders, unless such restriction with respect to the payment of dividends or similar distributions (a) has
been legally waived, or otherwise released, (b) is imposed pursuant to this Agreement and other Credit Documents, Permitted Debt
Exchange Notes, Incremental Loans, or Permitted Other Indebtedness, or (c) arises pursuant to an agreement or instrument if
the encumbrances and restrictions contained in any such agreement or instrument taken as a whole are not materially less favorable to
the Secured Parties than the encumbrances and restrictions contained in the Credit Documents (as determined by the Borrower in good faith);
provided that Consolidated Net Income of the referent Person will be increased by the amount of dividends or other distributions
or other payments actually paid in cash (or to the extent converted into cash) or Cash Equivalents to such Person or a Restricted Subsidiary
in respect of such period, to the extent not already included therein, shall be excluded

 

(vii)       effects
of adjustments (including the effects of such adjustments pushed down to Holdings and the Restricted Subsidiaries) in any line item in
such Person’s consolidated financial statements required or permitted by Financial Accounting Standards Codification Topic 805 –
Business Combinations and Topic 350 – Intangibles-Goodwill and Other (ASC 805 and ASC 350) (formerly Financial Accounting Standards
Board Statement Nos. 141 and 142, respectively) resulting from the application of purchase accounting, including in relation to the Transactions
and any acquisition that is consummated after the Closing Date or the amortization or write-off of any amounts thereof, net of taxes,
shall be excluded,

 

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(viii)      (a) any
after-tax effect of income (loss) from the early extinguishment of Indebtedness or Hedging Obligations or other derivative instruments
(including deferred financing costs written off and premiums paid), (b) any non-cash income (or loss) related to currency gains or
losses related to Indebtedness, intercompany balances, and other balance sheet items and to Hedging Obligations pursuant to ASC 815 (or
such successor provision), and (c) any non-cash expense, income, or loss attributable to the movement in mark to market valuation
of foreign currencies, Indebtedness, or derivative instruments pursuant to GAAP, shall be excluded,

 

(ix)         any
impairment charge, asset write-off, or write-down pursuant to ASC 350 and Financial Accounting Standards Codification Topic 360 –
Impairment and Disposal of Long-Lived Assets (ASC 360) (formerly Financial Accounting Standards Board Statement No. 144) and the
amortization of intangibles arising pursuant to ASC 805 shall be excluded,

 

(x)          (a) any
non-cash compensation expense recorded from grants of, or in connection with any share based compensation arrangements including, stock
appreciation or similar rights, phantom equity, stock options or units, restricted stock, capital or profits interests or other rights
to officers, directors, managers, or employees and (b) non-cash income (loss) attributable to deferred compensation plans or trusts,
shall be excluded,

 

(xi)         any
fees and expenses incurred during such period, or any amortization thereof for such period, in connection with any acquisition, Investment,
recapitalization, Asset Sale, issuance, or repayment of Indebtedness, issuance of Equity Interests, refinancing transaction or amendment
or modification of any debt instrument (in each case, including any such transaction consummated prior to the Closing Date and any such
transaction undertaken but not completed) and any charges or non-recurring merger costs incurred during such period as a result of any
such transaction shall be excluded,

 

(xii)        accruals
and reserves (including contingent liabilities) that are established or adjusted within twelve months after the Closing Date that are
so required to be established as a result of the Transactions in accordance with GAAP, or changes as a result of adoption or modification
of accounting policies, shall be excluded,

 

(xiii)       to
the extent covered by insurance or indemnification and actually reimbursed, or, so long as the Borrower has made a determination that
there exists reasonable evidence that such amount will in fact be reimbursed by the insurer or indemnifying party and only to the extent
that such amount is (a) not denied by the applicable carrier or indemnifying party in writing within 180 days and (b) in fact
reimbursed within 365 days of the date of the determination by the Borrower that there exists such evidence (with a deduction for any
amount so added back to the extent not so reimbursed within 365 days), losses and expenses with respect to liability or casualty events
or business interruption shall be excluded,

 

(xiv)      any
deferred tax expense associated with tax deductions or net operating losses arising as a result of the Transactions, or the release of
any valuation allowance related to such items, shall be excluded,

 

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(xv)        any
costs or expenses incurred during such period relating to environmental remediation, litigation, or other disputes in respect of events
and exposures that occurred prior to the Closing Date shall be excluded, and

 

(xvi)      Consolidated
Net Income for any Test Period shall be (a) increased by the aggregate amount of “run-rate” Consolidated Net Income projected
by the Borrower in good faith to be attributable to New Contracts entered into during such Test Period (or following such Test Period
but prior to the date for the delivery of the financial statements for such Test Period pursuant to Section 9.1(a) or
(b)) (which amount shall be calculated on a Pro Forma Basis as though the full annual amount of such Consolidated Net Income attributable
to such New Contracts had been realized during such Test Period (without duplication of any amounts attributable to such New Contracts
already received in such Test Period)) and (b) decreased by the aggregate amount of “run-rate” Consolidated Net Income
attributable to Terminated Contracts that have terminated or expired during such Test Period (or following such Test Period but prior
to the date for delivery of the financial statements for such Test Period pursuant to Section 9.1(a) or (b)) (which
amount shall be calculated on a Pro Forma Basis so as to eliminate the full annual amount of such Consolidated Net Income attributable
to such Terminated Contracts during such Test Period).

 

“Consolidated Total
Assets” shall mean, as of any date of determination, the amount that would, in conformity with GAAP, be set forth opposite the
caption “total assets” (or any like caption) on the most recent consolidated balance sheet of Holdings and the Restricted
Subsidiaries at such date.

 

“Consolidated Total
Debt” shall mean, as at any date of determination, an amount equal to the sum of the aggregate amount of all outstanding Indebtedness
of Holdings and the Restricted Subsidiaries on a consolidated basis consisting of third party Indebtedness for borrowed money, Capitalized
Lease Obligations and debt obligations evidenced by promissory notes and similar instruments (and excluding, for the avoidance of doubt,
Hedging Obligations); provided that Consolidated Total Debt shall not include Letters of Credit, except to the extent of Unpaid
Drawings thereunder; provided further that the effects of pushdown accounting shall be excluded.

 

“Consolidated Total
Debt to Consolidated EBITDA Ratio” shall mean, as of any date of determination, the ratio of (i) Consolidated Total Debt
as of such date of determination, minus cash and Cash Equivalents (in each case, free and clear of all Liens other than Permitted
Liens) of Holdings and the Restricted Subsidiaries (other than the proceeds of any Indebtedness being incurred and giving rise to the
need to calculate the Consolidated Total Debt to Consolidated EBITDA Ratio) to (ii) Consolidated EBITDA of Holdings for the Test
Period most recently ended on or prior to such date of determination, in each case with such pro forma adjustments to Consolidated Total
Debt and Consolidated EBITDA as are appropriate and consistent with Section 1.12.

 

“Consolidated Working
Capital” shall mean, at any date, the excess of (i) the sum of all amounts (other than cash and Cash Equivalents) that
would, in conformity with GAAP, be set forth opposite the caption “total current assets” (or any like caption) on a consolidated
balance sheet of Holdings and the Restricted Subsidiaries at such date excluding the current portion of current and deferred income taxes
over (ii) the sum of all amounts that would, in conformity with GAAP, be set forth opposite the caption “total current
liabilities” (or any like caption) on a consolidated balance sheet of Holdings and the Restricted Subsidiaries on such date, including
deferred revenue but excluding (for purposes of both clauses (i) and (ii) above), without duplication, (a) the current
portion of any Funded Debt, (b) all Indebtedness consisting of Loans and Letter of Credit Exposure and Capital Leases to the extent
otherwise included therein, (c) the current portion of interest, (d) the current portion of current and deferred income taxes,
(e) any liabilities that are not Indebtedness and will not be settled in cash or Cash Equivalents during the next succeeding twelve
month period after such date, (f) the effects from applying purchase accounting, (g) any accrued professional liability risks,
(h) restricted marketable securities and (i) deferred revenue reflected within current liabilities; provided that, for
purposes of calculating Excess Cash Flow, increases or decreases in working capital (A) arising from acquisitions or dispositions
by the Borrower and the Restricted Subsidiaries shall be measured from the date on which such acquisition or disposition occurred and
(B) shall exclude (I) the impact of non cash adjustments contemplated in the Excess Cash Flow calculation, (II) the impact
of adjusting items in the definition of “Consolidated Net Income” and (III) any changes in current assets or current
liabilities as a result of (x) the effect of fluctuations in the amount of accrued or contingent obligations, assets or liabilities
under hedging agreements or other derivative obligations, (y) any reclassification, other than as a result of the passage of time,
in accordance with GAAP of assets or liabilities, as applicable, between current and noncurrent or (z) the effects of acquisition
method accounting.

 

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“Contingent Obligations”
shall mean, with respect to any Person, any obligation of such Person guaranteeing any leases, dividends, or other payment obligations
that do not constitute Indebtedness (“primary obligations”) of any other Person (the “primary obligor”)
in any manner, whether directly or indirectly, including, without limitation, any obligation of such Person, whether or not contingent,
(i) to purchase any such primary obligation or any property constituting direct or indirect security therefor, (ii) to advance
or supply funds (a) for the purchase or payment of any such primary obligation or (b) to maintain working capital or equity
capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, or (iii) to purchase property,
securities, or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor
to make payment of such primary obligation against loss in respect thereof.

 

“Contract Consideration”
shall have the meaning provided in clause (k) of the definition of Excess Cash Flow.

 

“Contractual Requirement”
shall have the meaning provided in Section 8.3.

 

“Converted Restricted
Subsidiary” shall have the meaning provided in the definition of the term Consolidated EBITDA.

 

“Converted Unrestricted
Subsidiary” shall have the meaning provided in the definition of the term Consolidated EBITDA.

 

“Corresponding Tenor”
with respect to any Available Tenor shall mean, as applicable, either a tenor (including overnight) or an interest payment period having
approximately the same length (disregarding business day adjustment) as such Available Tenor.

 

“Covered Entity”
shall mean any of the following:

 

(i) a “covered
entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b);

 

(ii) a “covered
bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or

 

(iii) a “covered
FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b).

 

“Covered Party”
shall have the meaning provided in Section 13.24.

 

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“Credit Documents”
shall mean this Agreement, each Joinder Agreement, each Extension Amendment, each Permitted Repricing Amendment, the Guarantees, the Security
Documents, any documents or certificates executed by the Borrower in favor of the Letter of Credit Issuer relating to any Letter of Credit
and any promissory notes issued by the Borrower pursuant hereto.

 

“Credit Event”
shall mean and include the making (but not the conversion or continuation) of a Loan and the issuance of a Letter of Credit.

 

“Credit Facilities”
shall mean, collectively, each category of Commitments and each extension of credit hereunder.

 

“Credit Facility”
shall mean a category of Commitments and extensions of credit thereunder.

 

“Credit Party”
shall mean Holdings, the Borrower, and the other Guarantors.

 

“Cure Amount”
shall have the meaning provided in Section 11.14.

 

“Cure Right”
shall have the meaning provided in Section 11.14.

 

“Daily Simple SOFR”
shall mean, for any day (a “SOFR Rate Day”), a rate per annum equal SOFR for the day that is five (5) U.S. Government
Securities Business Day prior to (i) if such SOFR Rate Day is a U.S. Government Securities Business Day, such SOFR Rate Day or (ii) if
such SOFR Rate Day is not a U.S. Government Securities Business Day, the U.S. Government Securities Business Day immediately preceding
such SOFR Rate Day, in each case, as such SOFR is published by the SOFR Administrator on the SOFR Administrator’s Website. Any change
in Daily Simple SOFR due to a change in SOFR shall be effective from and including the effective date of such change in SOFR without notice
to the Borrower; provided that if the Daily Simple SOFR rate as so determined would be less than the Floor, such rate shall be
deemed to be equal to the Floor for the purposes of this Agreement.

 

“Debt Incurrence
Prepayment Event” shall mean any issuance or incurrence by Holdings or any of the Restricted Subsidiaries of any Indebtedness
(excluding any Indebtedness permitted to be issued or incurred under Section 10.1 other than Section 10.1(w)(i)).

 

“Declined Proceeds”
shall have the meaning provided in Section 5.2(f).

 

“Default”
shall mean any event, act, or condition that with notice or lapse of time, or both, would constitute an Event of Default.

 

“Default Rate”
shall have the meaning provided in Section 2.8(c).

 

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

 

“Defaulting Lender”
shall mean any Lender whose acts or failure to act, whether directly or indirectly, cause it to meet any part of the definition of Lender
Default.

 

“Deferred Net Cash
Proceeds” shall have the meaning provided such term in the definition of Net Cash Proceeds.

 

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“Deferred Net Cash
Proceeds Payment Date” shall have the meaning provided such term in the definition of Net Cash Proceeds.

 

“Derivative Counterparty”
shall have the meaning provided in Section 13.16.

 

“Designated Jurisdiction”
shall mean any country or territory to the extent that such country or territory itself is the subject of any comprehensive Sanctions
(at the time of this Agreement, the Crimea, the so–called Donetsk People’s Republic and the so-called Luhansk People’s
Republic regions of Ukraine, Cuba, Iran, North Korea and Syria).

 

“Designated Non-Cash
Consideration” shall mean the Fair Market Value of non-cash consideration received by Holdings or a Restricted Subsidiary in
connection with an Asset Sale that is so designated as Designated Non-Cash Consideration pursuant to a certificate of an Authorized Officer
of Holdings or the Borrower, setting forth the basis of such valuation, less the amount of cash or Cash Equivalents received in connection
with a subsequent sale of or collection on or other disposition of such Designated Non-Cash Consideration. A particular item of Designated
Non-Cash Consideration will no longer be considered to be outstanding when and to the extent it has been paid, redeemed or otherwise retired
or sold or otherwise disposed of in compliance with Section 10.4.

 

“Designated Preferred
Stock” shall mean preferred stock of Holdings or any direct or indirect parent company of Holdings (in each case other than
Disqualified Stock) that is issued for cash (other than to a Restricted Subsidiary or an employee stock ownership plan or trust established
by Holdings or any of its Subsidiaries) and is so designated as Designated Preferred Stock, pursuant to an officer’s certificate
executed by the principal financial officer of Holdings or the parent company thereof, as the case may be, on the issuance date thereof,
the cash proceeds of which are excluded from the calculation set forth in Section 10.5(a)(iii).

 

“Disposed EBITDA”
shall mean, with respect to any Sold Entity or Business or any Converted Unrestricted Subsidiary for any period, the amount for such period
of Consolidated EBITDA of such Sold Entity or Business or Converted Unrestricted Subsidiary (determined as if references to Holdings and
the Restricted Subsidiaries in the definition of Consolidated EBITDA were references to such Sold Entity or Business or Converted Unrestricted
Subsidiary and its respective Subsidiaries), all as determined on a consolidated basis for such Sold Entity or Business or Converted Unrestricted
Subsidiary, as the case may be.

 

“disposition”
shall have the meaning assigned such term in clause (i) of the definition of Asset Sale.

 

“Disqualified Lenders”
shall mean such Persons (i) that have been specified in writing to the Administrative Agent and the Lead Arrangers prior to the commencement
of “primary syndication” as being Disqualified Lenders, (ii) who are competitors of Holdings and its Subsidiaries that
are separately identified in writing by the Borrower or the Sponsor to the Administrative Agent from time to time, and (iii) in the
case of each of clauses (i) and (ii), any of their Affiliates (other than any such Affiliate that is affiliated with
a financial investor in such Person and that is not itself an operating company or otherwise an Affiliate of an operating company so long
as such Affiliate is a bona fide Fund) that are either (a) identified in writing by the Borrower or the Sponsor to the Administrative
Agent from time to time or (b) clearly identifiable on the basis of such Affiliate’s name. Notwithstanding the foregoing, (x) each
Credit Party and the Lenders acknowledge and agree that the Administrative Agent shall not have any responsibility or obligation to determine
whether any Lender or potential Lender is a Disqualified Lender and the Administrative Agent shall have no liability with respect to any
assignment or participation made to a Disqualified Lender and (y) any such designation of a Disqualified Lender may not apply retroactively
to disqualify any Person that has previously acquired an assignment or participation in any Credit Facility.

 

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“Disqualified Stock”
shall mean, with respect to any Person, any Capital Stock of such Person which, by its terms, or by the terms of any security into which
it is convertible or for which it is putable or exchangeable, or upon the happening of any event, matures or is mandatorily redeemable
(other than solely for Qualified Stock), other than as a result of a change of control, asset sale, condemnation event or similar event,
pursuant to a sinking fund obligation or otherwise, or is redeemable at the option of the holder thereof (other than solely for Qualified
Stock), other than as a result of a change of control, asset sale, condemnation event or similar event, in whole or in part, in each case,
prior to the date that is 91 days after the Latest Term Loan Maturity Date hereunder; provided that if such Capital Stock is issued
to any plan for the benefit of employees of Holdings or its Subsidiaries or by any such plan to such employees, such Capital Stock shall
not constitute Disqualified Stock solely because it may be required to be repurchased by Holdings or its Subsidiaries in order to satisfy
applicable statutory or regulatory obligations or as a result of such employee’s termination, death, or disability.

 

“Distressed Person”
shall have the meaning provided in the definition of the term Lender-Related Distress Event.

 

“Dollar Equivalent”
shall mean, at any time, (i) with respect to any amount denominated in Dollars, such amount, and (ii) with respect to any amount
denominated in any currency other than Dollars, the equivalent amount thereof in Dollars, as determined by the Administrative Agent on
the basis of the Spot Rate (determined on the most recent date of determination) for the purchase of Dollars with such currency.

 

“Dollars”
and “$” shall mean dollars in lawful currency of the United States.

 

“Domestic Subsidiary”
shall mean a Subsidiary that is organized under the laws of the United States, any state thereof, or the District of Columbia.

 

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

 

“EEA Member Country”
shall mean any of the member states of the European Union, Iceland, Liechtenstein, Norway and the United Kingdom.

 

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

 

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“Effective Yield”
shall mean, as to any Indebtedness, the effective yield on such Indebtedness in the reasonable determination of the Administrative Agent
in consultation with the Borrower and consistent with generally accepted financial practices, taking into account the applicable interest
rate margins, any interest rate floors (the effect of which floors shall be determined in a manner set forth in the proviso below), any
credit spread adjustments (the effect of which credit spread adjustments shall be determined in a manner set forth in the proviso below)
or similar devices and all fees, including upfront or similar fees or original issue discount (amortized over the shorter of (i) the
remaining weighted average life to maturity of such Indebtedness and (ii) the four years following the date of incurrence thereof)
payable generally to Lenders or other institutions providing such Indebtedness in connection with the initial primary syndication thereof,
but excluding any arrangement, structuring, ticking, or other similar fees payable in connection therewith that are not generally shared
with the relevant Lenders and, if applicable, consent fees for an amendment paid generally to consenting Lenders; provided that
with respect to any Indebtedness that includes a “SOFR floor” or “ABR floor,” (a) to the extent that the
Term SOFR Rate (with an Interest Period of three months) or ABR (without giving effect to any floors in such definitions), as applicable,
on the date that the Effective Yield is being calculated is less than such floor, the amount of such difference shall be deemed added
to the interest rate margin for such Indebtedness for the purpose of calculating the Effective Yield, and (b) to the extent that
the Term SOFR Rate (with an Interest Period of three months) or ABR (without giving effect to any floors in such definitions), as applicable,
on the date that the Effective Yield is being calculated is greater than such floor, then the floor shall be disregarded in calculating
the Effective Yield.

 

“Electronic Signature”
shall mean an electronic sound, symbol, or process attached to, or associated with, a contract or other record and adopted by a Person
with the intent to sign, authenticate or accept such contract or record.

 

“Environmental Claims”
shall mean any and all actions, suits, orders, decrees, demand letters, claims, notices of noncompliance or potential responsibility or
violation, or proceedings pursuant to any Environmental Law or any permit issued, or any approval given, under any such Environmental
Law (hereinafter, “Claims”), including, without limitation, (i) any and all Claims by governmental or regulatory
authorities for enforcement, cleanup, removal, response, remedial, or other actions or damages pursuant to any Environmental Law and (ii) any
and all Claims by any third party seeking damages, contribution, indemnification, cost recovery, compensation, or injunctive relief relating
to the presence Release or threatened Release of Hazardous Materials or arising from alleged injury or threat of injury to health or safety
(to the extent relating to human exposure to Hazardous Materials), or the environment including, without limitation, ambient air, indoor
air, surface water, groundwater, soil, land surface and subsurface strata, and natural resources such as wetlands.

 

“Environmental Law”
shall mean any applicable federal, state, foreign, or local statute, law, rule, regulation, ordinance, code, and rule of common law
now or hereafter in effect and in each case as amended, and any binding judicial or administrative interpretation thereof, including any
binding judicial or administrative order, consent decree, or judgment, relating to pollution or protection of the environment, including,
without limitation, ambient air, indoor air, surface water, groundwater, soil, land surface and subsurface strata and natural resources
such as flora, fauna, or wetlands, or protection of human health or safety (to the extent relating to human exposure to Hazardous Materials)
and including those relating to the generation, storage, treatment, transport, Release, or threat of Release of Hazardous Materials.

 

“Equity Interest”
shall mean Capital Stock and all warrants, options, or other rights to acquire Capital Stock, but excluding any debt security that is
convertible into, or exchangeable for, Capital Stock.

 

“Equity Offering”
shall mean any public or private sale of common stock or preferred stock of Holdings or any direct or indirect parent company of Holdings
(excluding Disqualified Stock), other than: (i) public offerings with respect to the Borrower or any of its direct or indirect parent
company’s (including Holdings’) common stock registered on Form S-8, (ii) issuances to any Subsidiary of Holdings,
(iii) any such public or private sale that constitutes an Excluded Contribution, and (iv) any Cure Amount.

 

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

 

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“ERISA Affiliate”
shall mean any trade or business (whether or not incorporated) that, together with any Credit Party, is treated as a single employer under
Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating
to Section 412 of the Code).

 

“ERISA Event”
shall mean (i) the failure of any Plan to comply with any provisions of ERISA and/or the Code (and applicable regulations under either)
or with the terms of such Plan; (ii) the existence with respect to any Plan of a non-exempt Prohibited Transaction; (iii) any
Reportable Event; (iv) the failure of any Credit Party or ERISA Affiliate to make by its due date a required installment under Section 430(j) of
the Code with respect to any Pension Plan or any failure by any Pension Plan to satisfy the minimum funding standards (within the meaning
of Section 412 of the Code or Section 302 of ERISA) applicable to such Pension Plan, whether or not waived; (v) a determination
that any Pension Plan is in “at risk” status (within the meaning of Section 430 of the Code or Section 303 of ERISA);
(vi) the filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an application for a waiver
of the minimum funding standard with respect to any Pension Plan; (vii) the termination of, or the appointment of a trustee to administer,
any Pension Plan under Section 4042 of ERISA or the incurrence by any Credit Party or any of its ERISA Affiliates of any liability
under Title IV of ERISA with respect to the termination of any Pension Plan (other than for PBGC premiums due but not delinquent under
Section 4007 of ERISA), including but not limited to the imposition of any Lien in favor of the PBGC or any Pension Plan; (viii) the
receipt by any Credit Party or any of its ERISA Affiliates from the PBGC or a plan administrator of any notice to terminate any Pension
Plan under Section 4041 of ERISA or to appoint a trustee to administer any Pension Plan under Section 4042 of ERISA; (ix) the
failure by any Credit Party or any of its ERISA Affiliates to make any required contribution to a Multiemployer Plan; (x) the incurrence
by any Credit Party or any of its ERISA Affiliates of any liability with respect to the withdrawal from any Pension Plan subject to Section 4063
of ERISA during a plan year in which it was a “substantial employer” (within the meaning of Section 4001(a)(2) of
ERISA), or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of ERISA, or the complete or
partial withdrawal (within the meaning of Section 4203 or 4205 of ERISA) from any Multiemployer Plan; (xi) the receipt by any
Credit Party or any of its ERISA Affiliates of any notice concerning the imposition of Withdrawal Liability or a determination that a
Multiemployer Plan is, or is expected to be, Insolvent, in “endangered” or “critical” status (within the
meaning of Section 432 of the Code or Section 305 of ERISA), or terminated (within the meaning of Section 4041A of ERISA);
or (xii) the failure by any Credit Party or any of its ERISA Affiliates to pay when due (after expiration of any applicable grace
period) any installment payment with respect to Withdrawal Liability under Section 4201 of ERISA.

 

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

 

“Event of Default”
shall have the meaning provided in Section 11.

 

“Excess Cash Flow”
shall mean, for any period, an amount equal to the excess of:

 

(i)          the
sum, without duplication (in each case, for Holdings and the Restricted Subsidiaries on a consolidated basis), of:

 

(a)         Consolidated
Net Income for such period,

 

(b)         an
amount equal to the amount of all non-cash charges to the extent deducted in arriving at such Consolidated Net Income and cash receipts
to the extent excluded in arriving at such Consolidated Net Income,

 

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(c)            decreases
in Consolidated Working Capital for such period (other than (1) reclassification of items from short-term to long-term or vice versa
and (2) any such decreases arising from acquisitions or Asset Sales by Holdings and the Restricted Subsidiaries completed during
such period or the application of purchase accounting),

 

(d)            an
amount equal to the aggregate net non-cash loss on Asset Sales by Holdings and the Restricted Subsidiaries during such period (other than
Asset Sales in the ordinary course of business) to the extent deducted in arriving at such Consolidated Net Income,

 

(e)            cash
receipts in respect of Hedge Agreements during such period to the extent not otherwise included in Consolidated Net Income,

 

(f)             increases
in current and non current deferred revenue to the extent deducted or not included in arriving at such Consolidated Net Income, and

 

(g)            extraordinary
gains;

 

over (ii) the sum, without
duplication, of:

 

(a)            an
amount equal to the amount of all non-cash credits included in arriving at such Consolidated Net Income, cash charges to the extent excluded
in arriving at such Consolidated Net Income, and Transaction Expenses to the extent not deducted in arriving at such Consolidated Net
Income and paid in cash during such period,

 

(b)            without
duplication of amounts deducted pursuant to clause (k) below in prior periods, the amount of Capital Expenditures or acquisitions
of Intellectual Property accrued or made in cash during such period, except to the extent that such Capital Expenditures or acquisitions
were financed with the proceeds of long-term Indebtedness of Holdings or the Restricted Subsidiaries (unless such Indebtedness has been
repaid other than with the proceeds of long term indebtedness) other than intercompany loans,

 

(c)            the
aggregate amount of all principal payments of Indebtedness of Holdings and the Restricted Subsidiaries (including (1) the principal
component of payments in respect of Capitalized Lease Obligations, (2) the amount of any scheduled repayment of Term Loans pursuant
to Section 2.5, and (3) the amount of a mandatory prepayment of Term Loans pursuant to Section 5.2(a) to
the extent required due to an Asset Sale that resulted in an increase to Consolidated Net Income and not in excess of the amount of such
increase but excluding (A) all other prepayments of Term Loans (in each case, including purchases of Term Loans by Holdings and its
Subsidiaries at or below par offered on a pro rata basis to all Term Loan Lenders of a Class and Dutch auctions offered on a pro
rata basis to all Term Loan Lenders of a Class in which case the amount of voluntary prepayments of Term Loans shall be deemed not
to exceed the actual purchase price of such Term Loans at or below par) and all voluntary prepayments of Permitted Other Indebtedness
(with a Lien on the Collateral ranking pari passu with the Liens on the Collateral securing the Obligations) and (B) all prepayments
of Revolving Loans (and any other revolving loans (unless there is an equivalent permanent reduction in commitments thereunder)) made
during such period, except to the extent financed with the proceeds of other long-term Indebtedness of Holdings or the Restricted Subsidiaries,

 

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(d)            an
amount equal to the aggregate net non-cash gain on Asset Sales by Holdings and the Restricted Subsidiaries during such period (other than
Asset Sales in the ordinary course of business) to the extent included in arriving at such Consolidated Net Income,

 

(e)             increases
in Consolidated Working Capital for such period (other than (1) reclassification of items from short-term to long-term or vice versa
and (2) any such increases arising from acquisitions or Asset Sales by Holdings and the Restricted Subsidiaries completed during
such period or the application of purchase accounting),

 

(f)             payments
in cash by Holdings and the Restricted Subsidiaries during such period in respect of any purchase price holdbacks, earn out obligations,
and long-term liabilities of Holdings and the Restricted Subsidiaries other than Indebtedness, to the extent not already deducted from
Consolidated Net Income,

 

(g)            without
duplication of amounts deducted pursuant to clause (k) below in prior fiscal periods, the aggregate amount of cash consideration
paid by Holdings and the Restricted Subsidiaries (on a consolidated basis) in connection with Investments (including acquisitions (but
excluding Permitted Investments of the type described in clauses (i) and (ii) thereof) made during such period constituting
Permitted Investments or made pursuant to Section 10.5 to the extent that such Investments were not financed with the proceeds
received from (1) the issuance or incurrence of long-term Indebtedness or (2) the issuance of Capital Stock,

 

(h)            the
amount of dividends paid in cash during such period (on a consolidated basis) by Holdings and the Restricted Subsidiaries, to the extent
such dividends were not financed with the proceeds received from (1) the issuance or incurrence of long-term Indebtedness or (2) the
issuance of Capital Stock,

 

(i)             the
aggregate amount of expenditures actually made by Holdings and the Restricted Subsidiaries in cash during such period (including expenditures
for the payment of financing fees and cash restructuring charges) to the extent that such expenditures are not expensed during such period
and are not deducted in calculating Consolidated Net Income,

 

(j)             the
aggregate amount of any premium, make-whole, or penalty payments actually paid in cash by Holdings and the Restricted Subsidiaries during
such period that are made in connection with any prepayment of Indebtedness to the extent that such payments are not deducted in calculating
Consolidated Net Income,

 

(k)            without
duplication of amounts deducted from Excess Cash Flow in other periods, (1) the aggregate consideration required to be paid in cash
by Holdings or any of its Restricted Subsidiaries pursuant to binding contracts, commitments, letters of intent or purchase orders (the
 “Contract Consideration”) entered into prior to or during such period and (2) any planned cash expenditures by
the Borrower or any of the Restricted Subsidiaries (the “Planned Expenditures”), in the case of each of clauses
(1) and (2), relating to Permitted Acquisitions (or other Investments), Capital Expenditures, or acquisitions of Intellectual
Property or other assets to be consummated or made during the period of four consecutive fiscal quarters of Holdings following the end
of such period (except to the extent financed with any of the proceeds received from (A) the issuance or incurrence of long-term
Indebtedness or (B) the issuance of Equity Interests); provided that to the extent that the aggregate amount of cash actually
utilized to finance such Permitted Acquisitions (or other Investments), Capital Expenditures, or acquisitions of Intellectual Property
or other assets during such following period of four consecutive fiscal quarters is less than the Contract Consideration and Planned
Expenditures, the amount of such shortfall shall be added to the calculation of Excess Cash Flow, at the end of such period of four consecutive
fiscal quarters,

 

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(l)              the
amount of taxes (including penalties and interest) paid in cash or tax reserves set aside or payable (without duplication) in such period
to the extent they exceed the amount of tax expense deducted in determining Consolidated Net Income for such period, and

 

(m)            cash
expenditures in respect of Hedge Agreements during such fiscal year to the extent not deducted in arriving at such Consolidated Net Income

 

(n)            decreases
in current and non current deferred revenue to the extent included or not deducted in arriving at such Consolidated Net Income, and

 

(o)            extraordinary
losses.

 

“Excluded Contribution”
shall mean net cash proceeds, the Fair Market Value of marketable securities, or the Fair Market Value of Qualified Proceeds received
by Holdings from (i) contributions to its common equity capital, and (ii) the sale (other than to a Subsidiary of Holdings or
to any management equity plan or stock option plan or any other management or employee benefit plan or agreement of Holdings) of Capital
Stock (other than Disqualified Stock and Designated Preferred Stock) of Holdings, in each case designated as Excluded Contributions pursuant
to an officer’s certificate executed by either a senior vice president or the principal financial officer of the Borrower on the
date such capital contributions are made or the date such Equity Interests are sold, as the case may be, which are excluded from the calculation
set forth in Section 10.5(a)(iii); provided that (i) any non-cash assets shall qualify only if acquired by a parent
of Holdings in an arm’s-length transaction within the six months prior to such contribution and (ii) no Cure Amount shall constitute
an Excluded Contribution.

 

“Excluded Property”
shall have the meaning set forth in the Security Agreement.

 

“Excluded Stock and
Stock Equivalents” shall mean (i) any Capital Stock or Stock Equivalents with respect to which, in the reasonable judgment
of the Administrative Agent and the Borrower (as agreed to in writing), the cost or other consequences of pledging such Capital Stock
or Stock Equivalents in favor of the Secured Parties under the Security Documents shall be excessive in view of the benefits to be obtained
by the Lenders therefrom, (ii) solely in the case of any pledge of Capital Stock and Stock Equivalents of any (a) CFC or (b) CFC
Holding Company, any Voting Stock or Stock Equivalents of any class of such CFC or CFC Holding Company in excess of 65% of the outstanding
Voting Stock of such class, (iii) any Capital Stock or Stock Equivalents of any direct or indirect Subsidiary of a CFC or CFC Holding
Company, (iv) any Capital Stock or Stock Equivalents to the extent the pledge thereof would violate any applicable Requirements of
Law (including any legally effective requirement to obtain the consent of any Governmental Authority unless such consent has been obtained)
after giving effect to the applicable anti-assignment provisions of the Uniform Commercial Code of any applicable jurisdiction, (v) in
the case of (A) any Capital Stock or Stock Equivalents of any Subsidiary to the extent such Capital Stock or Stock Equivalents are
subject to a Lien permitted by clause (vii) of the definition of Permitted Lien or (B) any Capital Stock or Stock
Equivalents of any Subsidiary that is not a Wholly-Owned Subsidiary of the Borrower and its Subsidiaries at the time such Subsidiary becomes
a Subsidiary, any Capital Stock or Stock Equivalents of each such Subsidiary described in clause (A) or (B) to
the extent (I) that a pledge thereof to secure the Obligations is prohibited by any applicable Contractual Requirement (other than
customary non-assignment provisions which are ineffective under the Uniform Commercial Code or other applicable law and other than proceeds
thereof the assignment of which is expressly deemed effective under the Uniform Commercial Code or other applicable law notwithstanding
such prohibition or restriction), (II) any Contractual Requirement prohibits such a pledge without the consent of any other party;
provided that this clause (II) shall not apply if (x) such other party is Holdings or a Credit Party or Wholly-Owned
Subsidiary or (y) consent has been obtained to consummate such pledge (it being understood that the foregoing shall not be deemed
to obligate the Borrower or any Subsidiary to obtain any such consent) and for so long as such Contractual Requirement or replacement
or renewal thereof is in effect, or (III) a pledge thereof to secure the Obligations would give any other party (other than Holdings
or a Credit Party or Wholly-Owned Subsidiary) to any contract, agreement, instrument, or indenture governing such Capital Stock or Stock
Equivalents the right to terminate its obligations thereunder (other than customary non-assignment provisions which are ineffective under
the Uniform Commercial Code or other applicable law and other than proceeds thereof the assignment of which is expressly deemed effective
under the Uniform Commercial Code or other applicable law notwithstanding such prohibition or restriction), (vi) any Capital Stock
or Stock Equivalents of any Subsidiary to the extent that the pledge of such Capital Stock or Stock Equivalents would result in materially
adverse tax consequences to the Borrower or any Subsidiary as reasonably determined by the Borrower in consultation with the Administrative
Agent, (vii) any Capital Stock or Stock Equivalents that are margin stock, and (viii) any Capital Stock and Stock Equivalents
of any Subsidiary that is not a Material Subsidiary or is an Unrestricted Subsidiary, a captive insurance Subsidiary, an SPV or any special
purpose entity.

 

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“Excluded Subsidiary”
shall mean (i) each Subsidiary, in each case, for so long as any such Subsidiary does not (on (x) a consolidated basis with
its Restricted Subsidiaries, if determined on the Closing Date by reference to the Historical Financial Statements or (y) a consolidated
basis with its Restricted Subsidiaries, if determined after the Closing Date by reference to the financial statements delivered to the
Administrative Agent pursuant to Section 9.1(a) and (b)) constitute a Material Subsidiary, (ii) each Subsidiary
that is not a Wholly-Owned Subsidiary on any date such Subsidiary would otherwise be required to become a Guarantor pursuant to the requirements
of Section 9.11 (for so long as such Subsidiary remains a non-Wholly-Owned Restricted Subsidiary), (iii) any CFC Holding
Company, (iv) any direct or indirect Subsidiary of a CFC or a CFC Holding Company, (v) any CFC, (vi) each Subsidiary that
is prohibited by any applicable Contractual Requirement or Requirements of Law (to the extent existing on the Closing Date or, if later,
the date it becomes a Restricted Subsidiary and in each case, not entered into in contemplation hereof) from guaranteeing or granting
Liens to secure the Obligations or would require third-party or governmental (including regulatory) consent, approval, license or authorization
to guarantee or grant such Liens to secure the Obligations (unless such consent, approval, license or authorization has been received),
(vii) each Subsidiary with respect to which, as reasonably determined by the Borrower, the consequence of providing a Guarantee of
the Obligations would adversely affect the ability of the Borrower and its respective Subsidiaries to satisfy applicable Requirements
of Law, (viii) each Subsidiary with respect to which, as reasonably determined by the Borrower in consultation with the Administrative
Agent, providing such a Guarantee would result in material adverse tax consequences, (ix) any other Subsidiary with respect to which,
in the reasonable judgment of the Administrative Agent and the Borrower, as agreed in writing, the cost or other consequences of providing
a Guarantee of the Obligations shall be excessive in view of the benefits to be obtained by the Lenders therefrom, (x) each Unrestricted
Subsidiary, (xi) any Receivables Subsidiary, (xii) each other Subsidiary acquired pursuant to a Permitted Acquisition or other
Investment permitted hereunder and financed with assumed secured Indebtedness permitted hereunder, and each Restricted Subsidiary acquired
in such Permitted Acquisition or other Investment permitted hereunder that guarantees such Indebtedness, in each case to the extent that,
and for so long as, the documentation relating to such Indebtedness to which such Subsidiary is a party prohibits such Subsidiary from
guaranteeing the Obligations and such prohibition was not created in contemplation of such Permitted Acquisition or other Investment permitted
hereunder, (xiii) each Subsidiary that is a registered broker dealer and (xiv) each SPV, not-for-profit Subsidiary and captive
insurance company.

 

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“Excluded Swap Obligation”
shall mean, with respect to any Credit Party, (a) any Swap Obligation if, and to the extent that, all or a portion of the Obligations
of such Credit Party of, or the grant by such Credit Party of a security interest to secure, such Swap Obligation (or any Obligations
thereof) is or becomes illegal or unlawful under the Commodity Exchange Act or any rule, regulation, or order of the Commodity Futures
Trading Commission (or the application or official interpretation of any thereof) or (b) any other Swap Obligation designated as
an “Excluded Swap Obligation” of such Guarantor as specified in any agreement between the relevant Credit Parties and Hedge
Bank applicable to such Swap Obligation. If a Swap Obligation arises under a master agreement governing more than one swap, such exclusion
shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such Obligation or security interest is
or becomes illegal or unlawful.

 

“Excluded Taxes”
shall mean, with respect to the Administrative Agent, any Lender, or any other recipient of any payment to be made by or on account of
any obligation of any Credit Party hereunder or under any other Credit Document, (i) Taxes imposed on or measured by its overall
net income, net profits, or branch profits (however denominated, and including (for the avoidance of doubt) any backup withholding in
respect thereof under Section 3406 of the Code or any similar provision of state, local, or foreign law), and franchise (and similar)
Taxes imposed on it (in lieu of net income Taxes), in each case by a jurisdiction (including any political subdivision thereof) as a result
of such recipient being organized in, having its principal office in, or in the case of any Lender, having its applicable lending office
in, such jurisdiction, or as a result of any other present or former connection with such jurisdiction (other than any such connection
arising solely from such recipient having executed, delivered, become a party to, performed its obligations under, received payments under,
received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Credit Document, or sold
or assigned an interest in any Loan or Credit Document), (ii) any U.S. federal withholding Tax imposed on any payment by or on account
of any obligation of any Credit Party hereunder or under any Credit Document that is required to be imposed on amounts payable to or for
the account of a Lender pursuant to laws in force at the time such Lender acquires an interest in any Credit Document (or designates a
new lending office), other than in the case of a Lender that is an assignee pursuant to a request by the Borrower under Section 13.7
(or that designates a new lending office pursuant to a request by the Borrower), except to the extent that such Lender (or its assignor,
if any) was entitled, immediately prior to the designation of a new lending office (or assignment), to receive additional amounts from
the Credit Parties with respect to such withholding Tax pursuant to Section 5.4, (iii) any Taxes attributable to a recipient’s
failure to comply with Section 5.4(e), or (iv) any withholding Tax imposed under FATCA.

 

“Existing Class”
shall mean any Existing Term Loan Class and any Existing Revolving Credit Class.

 

“Existing Letters
of Credit” shall mean each letter of credit existing on the Closing Date and identified on Schedule 1.1(d).

 

“Existing Revolving
Credit Class” shall have the meaning provided in Section 2.14(g)(ii).

 

“Existing Revolving
Credit Commitment” shall have the meaning provided in Section 2.14(g)(ii).

 

“Existing Revolving
Credit Loans” shall have the meaning provided in Section 2.14(g)(ii).

 

“Existing Term Loan
Class” shall have the meaning provided in Section 2.14(g)(i).

 

“Expiring Credit
Commitment” shall have the meaning provided in Section 2.1(e).

 

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“Extended Repayment
Date” shall have the meaning provided in Section 2.5(c).

 

“Extended Revolving
Credit Commitments” shall have the meaning provided in Section 2.14(g)(ii).

 

“Extended Revolving
Credit Loans” shall have the meaning provided in Section 2.14(g)(ii).

 

“Extended Revolving
Loan Maturity Date” shall mean the date on which any tranche of Extended Revolving Credit Loans matures.

 

“Extended Term Loan
Repayment Amount” shall have the meaning provided in Section 2.5(c).

 

“Extended Term Loans”
shall have the meaning provided in Section 2.14(g)(i).

 

“Extending Lender”
shall have the meaning provided in Section 2.14(g)(iii).

 

“Extension Amendment”
shall have the meaning provided in Section 2.14(g)(iv).

 

“Extension Date”
shall have the meaning provided in Section 2.14(g)(v).

 

“Extension Election”
shall have the meaning provided in Section 2.14(g)(iii).

 

“Extension Request”
shall mean a Term Loan Extension Request.

 

“Extension Series”
shall mean all Extended Term Loans and Extended Revolving Credit Commitments that are established pursuant to the same Extension Amendment
(or any subsequent Extension Amendment to the extent such Extension Amendment expressly provides that the Extended Term Loans or Extended
Revolving Credit Commitments, as applicable, provided for therein are intended to be a part of any previously established Extension Series)
and that provide for the same interest margins, extension fees, and amortization schedule.

 

“Fair Market Value”
shall mean with respect to any asset or group of assets on any date of determination, the value of the consideration obtainable in a sale
of such asset at such date of determination assuming a sale by a willing seller to a willing purchaser dealing at arm’s length and
arranged in an orderly manner over a reasonable period of time having regard to the nature and characteristics of such asset, as determined
in good faith by the Borrower.

 

“FATCA”
shall mean Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively
comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any
agreements entered into pursuant to Section 1471(b)(1) of the Code as of the date of this Agreement (or any amended or successor
version described above), any intergovernmental agreements (or related legislation or official administrative rules or practices)
implementing the foregoing, and any laws, fiscal or regulatory legislation, rules, guidance notes and practices adopted by a non-U.S.
jurisdiction to effect the foregoing.

 

“FCPA”
shall have the meaning provided in Section 8.10.

 

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

 

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“Fees”
shall mean all amounts payable pursuant to, or referred to in, Section 4.1.

 

“Fifth Amendment
Effective Date” shall mean August 15, 2018.

 

“First Lien Intercreditor
Agreement” shall mean an Intercreditor Agreement substantially in the form of Exhibit H (with such changes to such
form as may be reasonably acceptable to the Administrative Agent and the Borrower) among the Administrative Agent, the Collateral Agent,
and the representatives for purposes thereof for holders of one or more classes of First Lien Obligations (other than the Obligations).

 

“First Lien Obligations”
shall mean the Obligations and the Permitted Other Indebtedness Obligations that are secured by Liens on the Collateral that rank on an
equal priority basis (but without regard to the control of remedies) with Liens on the Collateral securing the Obligations.

 

“First Lien Secured
Leverage Test” shall mean, as of any date of determination, with respect to the last day of the most recently ended Test Period,
the Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio shall be no greater than 4.50 to 1.00.

 

“Fixed Amounts”
shall have the meaning provided in Section 1.12(a).

 

“Fixed Charge Coverage
Ratio” shall mean, as of any date of determination, the ratio of (i) Consolidated EBITDA for the Test Period most recently
ended on or prior to such date of determination to (ii) the Fixed Charges for such Test Period.

 

“Fixed Charges”
shall mean, with respect to any Person for any period, the sum of:

 

(i)             Consolidated
Interest Expense of such Person for such period,

 

(ii)            all
cash dividend payments (excluding items eliminated in consolidation) on any series of preferred stock (including any Designated Preferred
Stock) or any Refunding Capital Stock of such Person made during such period, and

 

(iii)           all
cash dividend payments (excluding items eliminated in consolidation) on any series of Disqualified Stock made during such period.

 

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

 

“Floor”
shall mean the benchmark rate floor, if any, provided in this Agreement initially (as of the execution of this Agreement, the modification,
amendment or renewal of this Agreement or otherwise) with respect to the Term SOFR Rate or the Daily Simple SOFR, as applicable. For the
avoidance of doubt the initial Floor for each of Term SOFR Rate or the Daily Simple SOFR shall be, (i) with respect to the Initial
Term Loans, 0.50% and (ii) with respect to the Revolving Loans, 0.00%.

 

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“Foreign Benefit
Arrangement” shall mean any employee benefit arrangement mandated by non-U.S. law that is maintained or contributed to by any
Credit Party or any of its Subsidiaries.

 

“Foreign Plan”
shall mean each employee benefit plan (within the meaning of Section 3(3) of ERISA, whether or not subject to ERISA) that is
not subject to U.S. law and is maintained or contributed to by any Credit Party or any of its Subsidiaries.

 

“Foreign Plan Event”
shall mean, with respect to any Foreign Plan or Foreign Benefit Arrangement, (i) the failure to make or, if applicable, accrue in
accordance with normal accounting practices, any employer or employee contributions required by applicable law or by the terms of such
Foreign Plan or Foreign Benefit Arrangement; (ii) the failure to register or loss of good standing (if applicable) with applicable
regulatory authorities of any such Foreign Plan or Foreign Benefit Arrangement required to be registered; or (iii) the failure of
any Foreign Plan or Foreign Benefit Arrangement to comply with any provisions of applicable law and regulations or with the terms of such
Foreign Plan or Foreign Benefit Arrangement.

 

“Foreign Subsidiary”
shall mean each Subsidiary that is not a Domestic Subsidiary.

 

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

 

“Fronting Fee”
shall have the meaning provided in Section 4.1(d).

 

“Fund”
shall mean any Person (other than a natural Person) that is engaged or advises funds or other investment vehicles that are engaged in
making, purchasing, holding, or investing in commercial loans and similar extensions of credit in the ordinary course.

 

“Funded Debt”
shall mean all Indebtedness of Holdings and the Restricted Subsidiaries for borrowed money that matures more than one year from the date
of its creation or matures within one year from such date that is renewable or extendable, at the option of Holdings or any Restricted
Subsidiary, to a date more than one year from the date of its creation or arises under a revolving credit or similar agreement that obligates
the lender or lenders to extend credit during a period of more than one year from such date (including all amounts of such Funded Debt
required to be paid or prepaid within one year from the date of its creation), and, in the case of the Credit Parties, Indebtedness
in respect of the Loans.

 

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“GAAP”
shall mean generally accepted accounting principles in the United States, as in effect from time to time; provided, however,
that if the Borrower notifies the Administrative Agent that the Borrower requests an amendment to any provision hereof to eliminate the
effect of any change occurring after the Closing Date in GAAP or in the application thereof on the operation of such provision, regardless
of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted
on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have
been withdrawn or such provision amended in accordance herewith. Furthermore, at any time after the Closing Date, Holdings may elect to
apply International Financial Reporting Standards (“IFRS”) accounting principles in lieu of GAAP and, upon any such
election, references herein to GAAP and GAAP concepts shall thereafter be construed to refer to IFRS and corresponding IFRS concepts (except
as otherwise provided in this Agreement); provided any such election, once made, shall be irrevocable; provided, further,
that any calculation or determination in this Agreement that requires the application of GAAP for periods that include fiscal quarters
ended prior to Holdings’ election to apply IFRS shall remain as previously calculated or determined in accordance with GAAP. The
Borrower shall give written notice of any such election made in accordance with this definition to the Administrative Agent. For the avoidance
of doubt, solely making an election (without any other action) referred to in this definition will not be treated as an incurrence of
Indebtedness. Notwithstanding any other provision contained herein, the amount of any Indebtedness under GAAP with respect to Capitalized
Lease Obligations shall be determined in accordance with the definition of Capitalized Lease Obligations.

 

“Governmental Authority”
shall mean any nation, sovereign, or government, any state, province, territory, or other political subdivision thereof, and any entity
or authority exercising executive, legislative, judicial, taxing, regulatory, or administrative functions of or pertaining to government,
including a central bank or stock exchange (including any supranational body exercising such powers or functions, such as the European
Union or the European Central Bank).

 

“Granting Lender”
shall have the meaning provided in Section 13.6(g).

 

“GS Bank”
shall mean Goldman Sachs Bank USA.

 

“guarantee obligations”
shall mean, as to any Person, any obligation of such Person guaranteeing or intended to guarantee any Indebtedness of any primary obligor
in any manner, whether directly or indirectly, including any obligation of such Person, whether or not contingent, (i) to purchase
any such Indebtedness or any property constituting direct or indirect security therefor, (ii) to advance or supply funds (a) for
the purchase or payment of any such Indebtedness or (b) to maintain working capital or equity capital of the primary obligor or otherwise
to maintain the net worth or solvency of the primary obligor, (iii) to purchase property, securities, or services primarily for the
purpose of assuring the owner of any such Indebtedness of the ability of the primary obligor to make payment of such Indebtedness, or
(iv) otherwise to assure or hold harmless the owner of such Indebtedness against loss in respect thereof; provided, however,
that the term guarantee obligations shall not include endorsements of instruments for deposit or collection in the ordinary course of
business or customary and reasonable indemnity obligations or product warranties in effect on the Closing Date or entered into in connection
with any acquisition or disposition of assets permitted under this Agreement (other than such obligations with respect to Indebtedness).
The amount of any guarantee obligation shall be deemed to be an amount equal to the stated or determinable amount of the Indebtedness
in respect of which such guarantee obligation is made or, if not stated or determinable, the maximum reasonably anticipated liability
in respect thereof (assuming such Person is required to perform thereunder) as determined by such Person in good faith.

 

“Guarantee”
shall mean (i) the First Lien Guarantee made by Holdings and each other Guarantor as of the Closing Date in favor of the Collateral
Agent for the benefit of the Secured Parties, substantially in the form of Exhibit B, and (ii) any other guarantee of
the Obligations made by a Restricted Subsidiary in form and substance reasonably acceptable to the Administrative Agent.

 

“Guarantors”
shall mean (i) each Subsidiary of Holdings that is party to the Guarantee on the Closing Date, (ii) each Subsidiary of Holdings
that becomes a party to the Guarantee after the Closing Date pursuant to Section 9.11 or otherwise, and (iii) Holdings;
provided that in no event shall any Excluded Subsidiary be required to be a Guarantor (unless such Subsidiary is no longer an Excluded
Subsidiary).

 

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“Hazardous Materials”
shall mean (i) any petroleum or petroleum products, radioactive materials, friable asbestos, polychlorinated biphenyls, and radon
gas; (ii) any chemicals, materials, or substances defined as or included in the definition of “hazardous substances,”
 “hazardous waste,” “hazardous materials,” “extremely hazardous waste,” “restricted hazardous
waste,” “toxic substances,” “toxic pollutants,” “contaminants,” or “pollutants,”
or words of similar import, under any Environmental Law; and (iii) any other chemical, material, or substance, which is prohibited,
limited, or regulated due to its dangerous or deleterious properties or characteristics by, any Environmental Law.

 

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

 

“Hedge Bank”
shall mean (i) (a) any Person that, at the time it enters into a Hedge Agreement with Holdings, the Borrower or any Restricted
Subsidiary, is a Lender, an Agent or an Affiliate of a Lender or an Agent and (b) with respect to any Hedge Agreement entered into
prior to the Closing Date, any Person that is a Lender or an Agent or an Affiliate of a Lender or an Agent on the Closing Date and (ii) any
other Person that is designated by the Borrower as a “Hedge Bank” by written notice to the Administrative Agent substantially
in the form of Exhibit M or such other form reasonably acceptable to the Administrative Agent and the Borrower.

 

“Hedging Obligations”
shall mean, with respect to any Person, the obligations of such Person under any Hedge Agreements.

 

“Historical Financial
Statements” shall mean (i) the audited consolidated balance sheets of Holdings and its Subsidiaries as at September 30,
2020 and September 30, 2021, and the related audited consolidated statements of income, cash flow and shareholders’ equity
of Holdings and its Subsidiaries for the years ended September 30, 2020 and September 30, 2021 and (ii) the unaudited consolidated
balance sheet, and statement of income, cash flow and shareholders’ equity, of Holdings and its Subsidiaries as of and for the fiscal
quarter ended December 31, 2021.

 

“HMT” shall
have the meaning provided in the definition of the term Sanctions.

 

“Holdings”
shall mean (i) Holdings (as defined in the preamble to this Agreement) or (ii) after the Closing Date any other Person or Persons
(“New Holdings”) that is a Subsidiary of (or are Subsidiaries of) Holdings or of any Parent Entity of Holdings (or
the previous New Holdings, as the case may be) but not the Borrower (“Previous Holdings”); provided that (a) such
New Holdings owns 100% of the Equity Interests of the Borrower directly or indirectly, (b) New Holdings shall expressly assume all
the obligations of Previous Holdings under this Agreement and the other Credit Documents pursuant to a supplement hereto or thereto in
form and substance reasonably satisfactory to the Administrative Agent and the Borrower, (c) if reasonably requested by the Administrative
Agent, an opinion of counsel shall be delivered by the Borrower to the Administrative Agent to the effect that, without limitation, such
substitution does not violate this Agreement or any other Credit Document, (d) all Capital Stock of the Borrower is pledged to secure
the Obligations, and (e)(i) no Event of Default has occurred and is continuing at the time of such substitution and such substitution
does not result in any Event of Default and (ii) such substitution will not reasonably be expected to result in any adverse tax consequences
to any Lender (unless reimbursed hereunder) or to the Administrative Agent (unless reimbursed hereunder); provided, further,
that if each of the foregoing is satisfied, Previous Holdings shall be automatically released of all its obligations under the Credit
Documents and any reference to Holdings in the Credit Documents shall be deemed to refer to New Holdings.

 

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“IFRS”
shall have the meaning given such term in the definition of GAAP.

 

“Immediate Family
Members” shall mean with respect to any individual, such individual’s child, stepchild, grandchild or more remote descendant,
parent, stepparent, grandparent, spouse, former spouse, qualified domestic partner, sibling, mother-in-law, father-in-law, son-in-law
and daughter-in-law (including adoptive relationships) and any trust, partnership or other bona fide estate-planning vehicle the only
beneficiaries of which are any of the foregoing individuals or any private foundation or fund that is controlled by any of the foregoing
individuals or any donor-advised fund of which any such individual is the donor.

 

“Increased Amount
Date” shall have the meaning provided in Section 2.14(a).

 

“Incremental Loans”
shall have the meaning provided in Section 2.14(c).

 

“Incremental Revolving
Credit Commitments” shall have the meaning provided in Section 2.14(a).

 

“Incremental Revolving
Credit Loans” shall have the meaning provided in Section 2.14(b).

 

“Incremental Revolving
Credit Maturity Date” shall mean the date on which any tranche of Revolving Credit Loans made pursuant to the Lenders’
Incremental Revolving Credit Commitments matures.

 

“Incremental Revolving
Loan Lenders” shall have the meaning provided in Section 2.14(b).

 

“incur”
and “incurrence” shall have the meanings provided in Section 10.1.

 

“Incurrence Based
Amounts” shall have the meaning provided in Section 1.12(a).

 

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“Indebtedness”
shall mean, with respect to any Person, (i) any indebtedness (including principal and premium) of such Person, whether or not contingent
(a) in respect of borrowed money, (b) evidenced by bonds, notes, debentures, or similar instruments or letters of credit or
bankers’ acceptances (or, without double counting, reimbursement agreements in respect thereof), (c) representing the balance
deferred and unpaid of the purchase price of any property (including Capitalized Lease Obligations), or (d) representing any Hedging
Obligations, if and to the extent that any of the foregoing Indebtedness (other than letters of credit and Hedging Obligations) would
appear as a net liability upon a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP; provided
that Indebtedness of any direct or indirect parent company appearing upon the balance sheet of Holdings solely by reason of push down
accounting under GAAP shall be excluded, (ii) to the extent not otherwise included, any obligation by such Person to be liable for,
or to pay, as obligor, guarantor or otherwise, on the obligations of the type referred to in clause (i) of another Person
(whether or not such items would appear upon the balance sheet of such obligor or guarantor), other than by endorsement of negotiable
instruments for collection in the ordinary course of business, and (iii) to the extent not otherwise included, the obligations of
the type referred to in clause (i) of another Person secured by a Lien on any asset owned by such Person, whether or not such
Indebtedness is assumed by such Person; provided that notwithstanding the foregoing, Indebtedness shall be deemed not to include
(1) Contingent Obligations incurred in the ordinary course of business, (2) obligations under or in respect of Receivables Facilities,
(3) prepaid or deferred revenue arising in the ordinary course of business, (4) purchase price holdbacks arising in the ordinary
course of business in respect of a portion of the purchase price of an asset to satisfy warrants or other unperformed obligations of the
seller of such asset, (5) any balance that constitutes a trade payable or similar obligation to a trade creditor, accrued in the
ordinary course of business, (6) any earn-out obligation until such obligation, within 60 days of becoming due and payable, has not
been paid and such obligation is reflected as a liability on the balance sheet of such Person in accordance with GAAP, (7) any obligations
attributable to the exercise of appraisal rights and the settlement of any claims or actions (whether actual, contingent or potential)
with respect thereto, (8) accrued expenses and royalties or (9) asset retirement obligations and obligations in respect of workers’
compensation (including pensions and retiree medical care) that are not overdue by more than 60 days. The amount of Indebtedness of any
Person for purposes of clause (iii) above shall (unless such Indebtedness has been assumed by such Person) be deemed to be
equal to the lesser of (x) the aggregate unpaid amount of such Indebtedness and (y) the Fair Market Value of the property encumbered
thereby as determined by such Person in good faith.

 

For all purposes hereof, the
Indebtedness of Holdings, the Borrower and the other Restricted Subsidiaries, shall exclude all intercompany Indebtedness having a term
not exceeding 365 days (inclusive of any roll-over or extensions of terms) and made in the ordinary course of business consistent with
past practice.

 

“Indemnified Liabilities”
shall have the meaning provided in Section 13.5.

 

“Indemnified Person”
shall have the meaning provided in Section 13.5.

 

“Indemnified Taxes”
shall mean all Taxes imposed on or with respect to any payment by or on account of any obligation of any Credit Party hereunder or under
any other Credit Document, other than Excluded Taxes or Other Taxes.

 

“Initial Investors”
shall mean Kohlberg Kravis Roberts & Co. L.P., KKR North America Fund XI L.P., KKR North America Fund XI ESC L.P., and KKR North
America Fund XI SBS L.P., and each of their respective Affiliates.

 

“Initial Revolving
Credit Commitments” shall have the meaning provided in the definition of the term Revolving Credit Commitment.

 

“Initial Term Loan”
shall mean each Term Loan outstanding immediately after giving effect to the Sixth Amendment Effective Date. The aggregate amount of the
Initial Term Loans as of the Sixth Amendment Effective Date is $1,200,000,000.

 

“Initial Term Loan
Commitment” shall mean, in the case of each Lender that is a Lender on the Sixth Amendment Effective Date, the commitment, if
any, of such Lender to fund Initial Term Loans in accordance with the Sixth Amendment and Section 2.1(a). The aggregate amount
of the Initial Term Loan Commitments as of the Sixth Amendment Effective Date is $1,200,000,000.

 

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“Initial Term Loan
Lender” shall mean a Lender with outstanding Initial Term Loan.

 

“Initial Term Loan
Maturity Date” shall mean April [22], 2029 or, if such date is not a Business Day, the immediately precedent
Business Day.

 

“Initial Term Loan
Repayment Amount” shall have the meaning provided in Section 2.5(b).

 

“Initial Term Loan
Repayment Date” shall have the meaning provided in Section 2.5(b).

 

“Insolvent”
shall mean, with respect to any Multiemployer Plan, the condition that such Multiemployer Plan is insolvent within the meaning of Section 4245
of ERISA.

 

“Intellectual Property”
shall mean U.S. intellectual property, including all (i) (a) patents, inventions, designs, processes, developments, technology,
and know-how; (b) copyrights and works of authorship in any media, including graphics, advertising materials, labels, package designs,
and photographs; (c) trademarks, service marks, trade names, brand names, corporate names, Internet domain names, logos, trade
dress, and other source indicators, and the goodwill of any business symbolized thereby; and (d) trade secrets, confidential or proprietary
information and (ii) registrations, issuances, applications, renewals, extensions, substitutions, continuations, continuations-in-part,
divisionals, re-issues, re-examinations, or similar legal protections related to the foregoing.

 

“Interest Payment
Date” shall mean (a) with respect to any ABR Loan (other than a Swingline Loan), the last day of each March, June,
September and December and the Maturity Date, (b) with respect to any Term Benchmark Loan, the last day of each Interest
Period applicable to the Borrowing of which such Loan is a part and, in the case of a Term Benchmark Borrowing with an Interest Period
of more than three months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three months’
duration after the first day of such Interest Period, and the Maturity Date and (c) with respect to any Swingline Loan, the day that
such Loan is required to be repaid and the Maturity Date.

 

“Interest Period”
shall mean, with respect to any Loan, the interest period applicable thereto, as determined pursuant to Section 2.9.

 

“Investment”
shall mean, with respect to any Person, all investments by such Person in other Persons (including Affiliates) in the form of loans (including
guarantees), advances, or capital contributions (excluding accounts receivable, trade credit, advances to customers, commission, travel,
and similar advances to officers and employees, in each case made in the ordinary course of business), purchases or other acquisitions
for consideration of Indebtedness, Equity Interests, or other securities issued by any other Person and investments that are required
by GAAP to be classified on the balance sheet (excluding the footnotes) of Holdings in the same manner as the other investments included
in this definition to the extent such transactions involve the transfer of cash or other property; provided that Investments shall
not include, in the case of Holdings, the Borrower, and the other Restricted Subsidiaries, intercompany loans (including guarantees),
advances, or Indebtedness either (i) having a term not exceeding 364 days (inclusive of any roll-over or extensions of terms) and
made in the ordinary course of business or (ii) arising from cash management, tax and/or accounting operations and made in the ordinary
course of business or consistent with past practices.

 

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For purposes of the definition
of Unrestricted Subsidiary and Section 10.5,

 

(i)             Investments
shall include the portion (proportionate to Holdings’ equity interest in such Subsidiary) of the Fair Market Value of the net assets
of a Subsidiary of Holdings at the time that such Subsidiary is designated an Unrestricted Subsidiary; provided that upon a redesignation
of such Subsidiary as a Restricted Subsidiary, Holdings shall be deemed to continue to have a permanent Investment in an Unrestricted
Subsidiary in an amount (if positive) equal to (a) Holdings’ Investment in such Subsidiary at the time of such redesignation
less (b) the portion (proportionate to Holdings’ equity interest in such Subsidiary) of the Fair Market Value of the
net assets of such Subsidiary at the time of such redesignation; and

 

(ii)            any
property transferred to or from an Unrestricted Subsidiary shall be valued at its Fair Market Value at the time of such transfer.

 

The amount of any Investment
outstanding at any time shall be the original cost of such Investment, reduced by any dividend, distribution, interest payment, return
of capital, repayment, or other amount received by Holdings or a Restricted Subsidiary in respect of such Investment (provided
that, with respect to amounts received other than in the form of Cash Equivalents, such amount shall be equal to the Fair Market Value
of such consideration).

 

“Investment Grade
Rating” shall mean a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by
S&P, or an equivalent rating by any other nationally recognized rating agency.

 

“Investment Grade
Securities” shall mean:

 

(i)             securities
issued or directly and fully guaranteed or insured by the United States government or any agency or instrumentality thereof (other than
Cash Equivalents),

 

(ii)            debt
securities or debt instruments with an Investment Grade Rating, but excluding any debt securities or instruments constituting loans or
advances among Holdings and its Subsidiaries,

 

(iii)           investments
in any fund that invest at least 90% in investments of the type described in clauses (i) and (ii) which fund may
also hold immaterial amounts of cash pending investment or distribution, and

 

(iv)           corresponding
instruments in countries other than the United States customarily utilized for high-quality investments.

 

“ISP” shall
mean, with respect to any Letter of Credit, 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).

 

“Issuer Documents”
shall mean with respect to any Letter of Credit, the Letter of Credit Request, and any other document, agreement, and instrument entered
into by the Letter of Credit Issuer and the Borrower (or any other Restricted Subsidiary or Holdings) or in favor of the Letter of Credit
Issuer and relating to such Letter of Credit.

 

“Joinder Agreement”
shall mean an agreement substantially in the form of Exhibit A.

 

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“Joint Lead Arrangers
and Bookrunners” shall mean JPMorgan Chase Bank, N.A., MUFG Union Bank, N.A., PNC Bank, National Association, Goldman Sachs
Bank USA, Mizuho Bank, Ltd., Citizens Bank, N.A., ING Capital LLC, Wells Fargo Securities, LLC, Sumitomo Mitsui Banking Corporation,
and KKR Capital Markets LLC.

 

“Junior Debt”
shall mean any Indebtedness (other than any permitted intercompany Indebtedness owing to the Borrower or any Restricted Subsidiary) in
respect of Subordinated Indebtedness in excess of $15 million.

 

“KKR” shall
mean each of Kohlberg Kravis Roberts & Co. L.P. and KKR North America Fund XI L.P.

 

“Latest Term Loan
Maturity Date” shall mean, at any date of determination, the latest maturity or expiration date applicable to any Term Loan
hereunder at such time, including the latest maturity or expiration date of any New Term Loan or any Extended Term Loan, in each case
as extended in accordance with this Agreement from time to time.

 

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

 

“L/C Facility Maturity
Date” shall mean the date that is three Business Days prior to the Revolving Credit Maturity Date; provided that the
L/C Facility Maturity Date may be extended beyond such date with the consent of the applicable Letter of Credit Issuer.

 

“L/C Obligations”
shall mean, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus
the aggregate of all Unpaid Drawings, including all L/C Borrowings. For all purposes of this Agreement, if on any date of determination
a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14
of the International Standby Practices (ISP98), such Letter of Credit shall be deemed to be “outstanding” in the amount so
remaining available to be drawn. Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be
the stated amount of such Letter of Credit in effect at such time.

 

“L/C Participant”
shall have the meaning provided in Section 3.3(a).

 

“L/C Participation”
shall have the meaning provided in Section 3.3(a).

 

“L/C Sublimit”
shall mean $150,000,000.

 

“LCT Election”
shall have the meaning provided in Section 1.12(c).

 

“LCT Test Date”
shall have the meaning provided in Section 1.12(c).

 

“Lender”
shall have the meaning provided in the preamble to this Agreement.

 

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“Lender Default”
shall mean (i) the refusal or failure of any Lender to make available its portion of any incurrence of Loans or Reimbursement Obligations,
which refusal or failure is not cured within one Business Day after the date of such refusal or failure, unless such Lender notifies the
Administrative Agent in writing that such refusal or failure is the result of such Lender's good faith determination that one or more
conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified
in writing) has not been satisfied, (ii) the failure of any Lender to pay over to the Administrative Agent, the Swingline Lender,
the Letter of Credit Issuer, or any other Lender any other amount required to be paid by it hereunder within one Business Day of the date
when due, unless the subject of a good faith dispute, (iii) a Lender has notified the Borrower or the Administrative Agent that it
does not intend to comply with its funding obligations under this Agreement or has made a public statement to that effect with respect
to its funding obligations under this Agreement, or a Lender has publicly announced that it does not intend to comply with its funding
obligations under other loan agreements, credit agreements or similar facilities generally, (iv) a Lender has failed to confirm in
a manner reasonably satisfactory to the Administrative Agent that it will comply with its funding obligations under this Agreement, (v) a
Distressed Person has admitted in writing that it is insolvent or such Distressed Person becomes subject to a Lender-Related Distress
Event or (vi) a Lender has become the subject of a Bail-In Action; provided that no Lender Default shall occur solely by virtue
of the ownership or acquisition of any Equity Interest in that Lender or any direct or indirect parent company thereof by a Governmental
Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within
the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental
Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender.

 

“Lender Presentation”
shall mean the Lender Presentation dated as of April 2022.

 

“Lender-Related Distress
Event” shall mean, with respect to any Lender or any other Person that directly or indirectly controls such Lender (each, a
 “Distressed Person”), a voluntary or involuntary case with respect to such Distressed Person under any debt relief
law, or a custodian, conservator, receiver, or similar official is appointed for such Distressed Person or any substantial part of such
Distressed Person’s assets, or such Distressed Person, or any Person that directly or indirectly controls such Distressed Person
or is subject to a forced liquidation or such Distressed Person makes a general assignment for the benefit of creditors or is otherwise
adjudicated as, or determined by any Governmental Authority having regulatory authority over such Distressed Person to be, insolvent or
bankrupt; provided that a Lender-Related Distress Event shall not be deemed to have occurred solely by virtue of (x) the ownership
or acquisition of any equity interests in any Lender or any Person that directly or indirectly controls such Lender by a Governmental
Authority or an instrumentality thereof or (y) solely with respect to regulatory or supervisory matters, the appointment of a custodian,
conservator, receiver or similar official by a Governmental Authority or an instrumentality thereof under or based on the law in the country
where any Lender or any Person that directly or indirectly controls such Lender is subject to home jurisdiction, if applicable law requires
that such appointment not be disclosed, in each case so long as such ownership interest or appointment (as applicable) does not result
in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments
or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm
any contracts or agreements made with such Lender.

 

“Letter of Credit”
shall mean each letter of credit issued pursuant to Section 3.1 and each Existing Letter of Credit.

 

“Letter of Credit
Commitment” shall mean, with respect to each Letter of Credit Issuer, the amount set forth opposite such Letter of Credit Issuer’s
name on Schedule 1.1(b), as, as the same may be adjusted from time to time pursuant to Section 3.1.

 

“Letter of Credit
Expiration Date” shall mean the day that is three Business Days prior to the scheduled Maturity Date then in effect for the
Revolving Credit Facility.

 

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“Letter of Credit
Exposure” shall mean, with respect to any Lender, at any time, the sum of (i) the amount of the principal amount of any
Unpaid Drawings in respect of which such Lender has made (or is required to have made) payments to the Letter of Credit Issuer pursuant
to Section 3.4(a) at such time and (ii) such Lender’s Revolving Credit Commitment Percentage of the Letters
of Credit Outstanding at such time (excluding the portion thereof consisting of Unpaid Drawings in respect of which the Lenders have made
(or are required to have made) payments to the applicable Letter of Credit Issuer pursuant to Section 3.4(a)).

 

“Letter of Credit
Fee” shall have the meaning provided in Section 4.1(b).

 

“Letter of Credit
Issuer” shall mean (i) JPMorgan Chase Bank, N.A., MUFG Union Bank, N.A., PNC Bank, National Association, Goldman Sachs
Bank USA, Mizuho Bank, Ltd., Citizens Bank, N.A., Wells Fargo Bank, N.A., ING Capital LLC and Sumitomo Mitsui Banking Corporation
and any of their applicable respective Affiliates or branches or designated fronting entities and (ii) any replacement, additional
issuer, or successor pursuant to Section 3.6; provided that Goldman Sachs Bank USA, in its capacity as a Letter of Credit
Issuer, shall only be required to issue standby Letters of Credit. References herein and in the other Credit Documents to the Letter
of Credit Issuer shall be deemed to refer to the Letter of Credit Issuer in respect of the applicable Letter of Credit or to all Letter
of Credit Issuers, as the context requires.

 

“Letter of Credit
Request” shall mean a notice executed and delivered by the Borrower pursuant to Section 3.2, and substantially in
the form of Exhibit L or another form which is acceptable to the Letter of Credit Issuer in its reasonable discretion.

 

“Letters of Credit
Outstanding” shall mean, at any time the sum of, without duplication, (i) the aggregate Stated Amount of all outstanding
Letters of Credit and (ii) the aggregate amount of the principal amount of all Unpaid Drawings.

 

“Level I Status”
shall mean, on any date, the circumstance that Level II Status does not exist.

 

“Level II Status”
shall mean, on any date, the circumstance that the Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio is less than or equal
to 3.25 to 1.00 as of such date.

 

“Level I Revolving
Status” shall mean, on any date, with respect to the Revolving Loans, the circumstance that Level II Revolving Status and Level
III Revolving Status does not exist.

 

“Level II Revolving
Status” shall mean, on any date, with respect to the Revolving Loans, the circumstance that the Consolidated First Lien Secured
Debt to Consolidated EBITDA Ratio is less than or equal to 3.25 to 1.00 but greater than 3.00 to 1.00 as of such date.

 

“Level III Revolving
Status” shall mean, on any date, with respect to the Revolving Loans, the circumstance that the Consolidated First Lien Secured
Debt to Consolidated EBITDA Ratio is less than or equal to 3.00 to 1.00 as of such date.

 

“Level I Term Status”
shall mean, on any date, with respect to the Term Loans, the circumstance that Level II Term Status does not exist.

 

“Level II Term Status”
shall mean, on any date, with respect to the Term Loans, the circumstance that the Consolidated First Lien Secured Debt to Consolidated
EBITDA Ratio is less than 3.20 to 1.00 as of such date.

 

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“Lien”
shall mean with respect to any asset, any mortgage, lien, pledge, hypothecation, charge, security interest, preference, priority, or encumbrance
of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional
sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to sell or give a security interest
in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction;
provided that in no event shall an operating lease or a license to Intellectual Property be deemed to constitute a Lien.

 

“Limited Condition
Transaction” shall mean (x) any transaction by one or more of the Borrower and its respective Restricted Subsidiaries whose
consummation is not conditioned on the availability of, or on obtaining, third party financing and (y) any redemption, repurchase,
defeasance, satisfaction and discharge or repayment of Indebtedness or other obligations requiring irrevocable notice in advance of such
redemption, repurchase, defeasance, satisfaction and discharge or repayment.

 

“Loan”
shall mean any Revolving Loan, Swingline Loan, Term Loan, Extended Term Loan, New Term Loan, or any other loan made by any Lender hereunder.

 

“Mandatory Borrowing”
shall have the meaning provided in Section 2.1(d).

 

“Master Agreement”
shall have the meaning provided in the definition of the term “Hedge Agreement.”

 

“Material Adverse
Effect” shall mean a circumstance or condition affecting the business, assets, operations, properties, or financial condition
of Holdings and its Subsidiaries, taken as a whole, that would, individually or in the aggregate, materially adversely affect (i) the
ability of Holdings and the other Credit Parties, taken as a whole, to perform their payment obligations under this Agreement or any of
the other Credit Documents or (ii) the rights and remedies of the Administrative Agent and the Lenders under the Credit Documents.

 

“Material Subsidiary”
shall mean, at any date of determination, each Restricted Subsidiary (i) whose total assets at the last day of the Test Period ending
on the last day of the most recent fiscal period for which Section 9.1 Financials have been delivered were equal to or greater than
5.00% of the Consolidated Total Assets of Holdings and the Restricted Subsidiaries at such date or (ii) whose revenues during such
Test Period were equal to or greater than 5.00% of the consolidated revenues of Holdings and the Restricted Subsidiaries for such period,
in each case determined in accordance with GAAP; provided that if, at any time and from time to time after the Closing Date, Restricted
Subsidiaries that are not Material Subsidiaries (other than Subsidiaries that are Excluded Subsidiaries by virtue of any of clauses (ii) through
(xii) of the definition of “Excluded Subsidiary”) have, in the aggregate, (a) total assets at the last day of such
Test Period equal to or greater than 7.50% of the Consolidated Total Assets of Holdings and the Restricted Subsidiaries at such date or
(b) revenues during such Test Period equal to or greater than 7.50% of the consolidated revenues of Holdings and the Restricted Subsidiaries
for such period, in each case determined in accordance with GAAP, then Holdings shall, on the date on which financial statements for such
quarter are delivered pursuant to this Agreement, designate in writing to the Administrative Agent one or more of such Restricted Subsidiaries
as Material Subsidiaries for each fiscal period until this proviso is no longer applicable.

 

“Maturity Carveout
Amount” shall have the meaning provided in Section 2.14(d).

 

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“Maturity Date”
shall mean the Initial Term Loan Maturity Date, the New Term Loan Maturity Date, the Revolving Credit Maturity Date, the maturity date
of an Extended Term Loan or the maturity date of an Extended Revolving Credit Loan, as applicable.

 

“Maximum Incremental
Facilities Amount” shall mean, at any date of determination, (i)(a) the amount such that, after giving effect to the incurrence
of such amount Holdings would be in compliance on a Pro Forma Basis (including any adjustments required by such definition as a result
of a contemplated Permitted Acquisition, but excluding any concurrent incurrence of Indebtedness pursuant to clause (ii) below
or the Revolving Credit Facility and netting any cash proceeds of such incurrence) with the First Lien Secured Leverage Test (assuming
that all Indebtedness incurred pursuant to Section 2.14(a) or Section 10.1(x) prior to or on such date
of determination would be included in the definition of Consolidated First Lien Secured Debt, whether or not such Indebtedness would otherwise
be so included and assuming the Incremental Revolving Credit Commitments established at such time are fully drawn), or (b) solely
in the case of any Permitted Acquisition or Investment permitted under this Agreement, on a Pro Forma Basis the Consolidated First Lien
Secured Debt to Consolidated EBITDA Ratio would be equal to or less than the Consolidated First Lien Secured Debt to Consolidated EBITDA
Ratio immediately prior to giving effect to such incurrence, such Permitted Acquisition or Investment permitted under this Agreement and
all transactions in connection therewith plus (ii) the sum of (a) the greater of (x) $303,000,000 and (y) 100%
of Consolidated EBITDA for the most recently ended Test Period and (b) the aggregate amount of voluntary prepayments of Loans (including
purchases of the Loans by Holdings and its Subsidiaries at or below par, in which case the amount of voluntary prepayments of Loans shall
be deemed not to exceed the actual purchase price of such Loans below par) (and in the case of any Loans that are not Term Loans, a corresponding
commitment reduction), in each case, other than from proceeds of Refinancing Indebtedness, minus (iii) the sum of (a) the
aggregate principal amount of New Loan Commitments incurred pursuant to Section 2.14(a) in reliance on clause (ii) of
this definition prior to such date and (b) the aggregate principal amount of Permitted Other Indebtedness issued or incurred (including
any unused commitments obtained) pursuant to Section 10.1(x)(i) in reliance on clause (ii) of this definition
prior to such date.

 

“MFN Protection”
shall have the meaning set forth in the proviso to Section 2.14(d)(iii).

 

“Minimum Borrowing
Amount” shall mean (i) with respect to a Borrowing of Term Benchmark Loans, $1,000,000 (or, if less, the entire remaining
applicable Commitments at the time of such Borrowing) and (ii) with respect to a Borrowing of ABR Loans, $1,000,000 (or, if less,
the entire remaining applicable Commitments at the time of such Borrowing).

 

“Minimum Collateral
Amount” shall mean, at any time, (i) with respect to Cash Collateral consisting of cash or Cash Equivalents or deposit
account balances provided to reduce or eliminate Fronting Exposure during the existence of a Defaulting Lender, an amount equal to 101%
of the Fronting Exposure of the Letter of Credit Issuer with respect to Letters of Credit issued and outstanding at such time and (ii) with
respect to Cash Collateral consisting of cash or Cash Equivalents or deposit account balances provided in accordance with the provisions
of Section 3.8(a)(i), (a)(ii), or (a)(iii), an amount equal to 101% of the outstanding amount of all L/C Obligations.

 

“Minimum Tender Condition”
shall have the meaning provided in Section 2.15(b).

 

“Moody’s”
shall mean Moody’s Investors Service, Inc. or any successor by merger or consolidation to its business.

 

     50

     

    

 

“Mortgage”
shall mean a mortgage, deed of trust, deed to secure debt, trust deed, or other security document entered into by the owner of a Mortgaged
Property for the benefit of the Collateral Agent for the Secured Parties in respect of that Mortgaged Property to secure the Obligations,
in form and substance reasonably acceptable to the Collateral Agent and the Borrower, together with such terms and provisions as may be
required by local laws.

 

“Mortgaged Property”
shall mean, initially, each parcel of real estate and the improvements thereto owned in fee by a Credit Party and identified on Schedule
1.1(a), and each other owned parcel of real property and improvements thereto with respect to which a Mortgage is granted pursuant
to Section 9.11 or Section 9.14.

 

“Multiemployer Plan”
shall mean a multiemployer plan as defined in Section 4001(a)(3) of ERISA to which any Credit Party or ERISA Affiliate makes
or is obligated to make contributions, or during the five preceding calendar years, has made or been obligated to make contributions.

 

“Net Cash Proceeds”
shall mean, with respect to any Prepayment Event and any incurrence of Permitted Other Indebtedness, (i) the gross cash proceeds
(including payments from time to time in respect of installment obligations, if applicable, but only as and when received and excluding
any interest payments) received by or on behalf of Holdings or any of the Restricted Subsidiaries in respect of such Prepayment Event
or incurrence of Permitted Other Indebtedness, as the case may be, less (ii) the sum of:

 

(a)          the
amount, if any, of all taxes (including in connection with any repatriation of funds) paid or estimated to be payable by Holdings or any
of the Restricted Subsidiaries in connection with such Prepayment Event or incurrence of Permitted Other Indebtedness,

 

(b)          the
amount of any reasonable reserve established in accordance with GAAP against any liabilities (other than any taxes deducted pursuant to
clause (a) above) (1) associated with the assets that are the subject of such Prepayment Event and (2) retained
by Holdings or any of the Restricted Subsidiaries; provided that the amount of any subsequent reduction of such reserve (other
than in connection with a payment in respect of any such liability) shall be deemed to be Net Cash Proceeds of such a Prepayment Event
occurring on the date of such reduction,

 

(c)          the
amount of any Indebtedness (other than the Loans and Permitted Other Indebtedness) secured by a Lien on the assets that are the subject
of such Prepayment Event to the extent that the instrument creating or evidencing such Indebtedness requires that such Indebtedness be
repaid upon consummation of such Prepayment Event,

 

(d)          in
the case of any Asset Sale Prepayment Event or Casualty Event or Permitted Sale Leaseback, the amount of any proceeds of such Prepayment
Event that Holdings or any Restricted Subsidiary has reinvested (or intends to reinvest within the Reinvestment Period or has entered
into a binding commitment prior to the last day of the Reinvestment Period to reinvest) in the business of Holdings or any of the Restricted
Subsidiaries; provided that any portion of such proceeds that has not been so reinvested within such Reinvestment Period (with
respect to such Prepayment Event, the “Deferred Net Cash Proceeds”) shall, unless Holdings or a Restricted Subsidiary
has entered into a binding commitment prior to the last day of such Reinvestment Period to reinvest such proceeds no later than 180 days
following the last day of such Reinvestment Period, (1) be deemed to be Net Cash Proceeds of an Asset Sale Prepayment Event, Casualty
Event, or Permitted Sale Leaseback occurring on the last day of such Reinvestment Period or, if later, 180 days after the date Holdings
or such Restricted Subsidiary has entered into such binding commitment, as applicable (such last day or 180th day, as applicable, the
 “Deferred Net Cash Proceeds Payment Date”), and (2) be applied to the repayment of Term Loans in accordance with
Section 5.2(a)(i),

 

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(e)          in
the case of any Asset Sale Prepayment Event, Casualty Event, or Permitted Sale Leaseback by a non-Wholly-Owned Restricted Subsidiary,
the pro rata portion of the Net Cash Proceeds thereof (calculated without regard to this clause (e)) attributable to minority interests
and not available for distribution to or for the account of Holdings or a Wholly-Owned Restricted Subsidiary as a result thereof,

 

(f)          in
the case of any Asset Sale Prepayment Event or Permitted Sale Leaseback, any funded escrow established pursuant to the documents evidencing
any such sale or disposition to secure any indemnification obligations or adjustments to the purchase price associated with any such sale
or disposition; provided that the amount of any subsequent reduction of such escrow (other than in connection with a payment in
respect of any such liability) shall be deemed to be Net Cash Proceeds of such a Prepayment Event occurring on the date of such reduction
solely to the extent that Holdings and/or any Restricted Subsidiaries receives cash in an amount equal to the amount of such reduction,
and

 

(g)          all
fees and out of pocket expenses paid by Holdings or a Restricted Subsidiary in connection with any of the foregoing (for the avoidance
of doubt, including, (1) in the case of the issuance of Permitted Other Indebtedness, any fees, underwriting discounts, premiums,
and other costs and expenses incurred in connection with such issuance and (2) attorney’s fees, investment banking fees, survey
costs, title insurance premiums, and related search and recording charges, transfer taxes, deed or mortgage recording taxes, underwriting
discounts and commissions, other customary expenses, and brokerage, consultant, accountant, and other customary fees),

 

in each case, only to the extent not already deducted
in arriving at the amount referred to in clause (i) above.

 

“Net Income”
shall mean, with respect to any Person, the net income (loss) of such Person, determined in accordance with GAAP and before any reduction
in respect of preferred stock dividends.

 

“New Contracts”
shall mean binding contracts or purchase orders (i) entered with new customers or (ii) for new business with existing customers,
in each case, under which Holdings and/or its Subsidiaries have begun to provide services to customers, which are expected to increase
the Consolidated Net Income of Holdings.

 

“New Holdings”
shall have the meaning provided in the definition of the term Holdings.

 

“New Loan Commitments”
shall have the meaning provided in Section 2.14(a).

 

“New Revolving Credit
Commitments” shall have the meaning provided in Section 2.14(a).

 

“New Revolving Credit
Loan” shall have the meaning provided in Section 2.14(b).

 

“New Revolving Loan
Lender” shall have the meaning provided in Section 2.14(b).

 

“New Revolving Loan
Repayment Amount” shall have the meaning provided in Section 2.5(c).

 

“New Revolving Loan
Repayment Date” shall have the meaning provided in Section 2.5(c).

 

“New Term Loan”
shall have the meaning provided in Section 2.14(c).

 

“New Term Loan Commitments”
shall have the meaning provided in Section 2.14(a).

 

     52

     

    

 

“New Term Loan Lender”
shall have the meaning provided in Section 2.14(c).

 

“New Term Loan Maturity
Date” shall mean the date on which a New Term Loan matures.

 

“New Term Loan Repayment
Amount” shall have the meaning provided in Section 2.5(c).

 

“New Term Loan Repayment
Date” shall have the meaning provided in Section 2.5(c).

 

“Non-Bank Tax Certificate”
shall have the meaning provided in Section 5.4(e)(ii)(B)(3).

 

“Non-Consenting Lender”
shall have the meaning provided in Section 13.7(b).

 

“Non-Credit Party
Prepayment Event” shall have the meaning provided in Section 5.2(a)(iv).

 

“Non-Defaulting Lender”
shall mean and include each Lender other than a Defaulting Lender.

 

“Non-Expiring Credit
Commitment” shall have the meaning provided in Section 2.1(e).

 

“Non-Extension Notice
Date” shall have the meaning provided in Section 3.2(d).

 

“Non-U.S. Lender”
shall mean any Lender that is not a “United States person” as defined by Section 7701(a)(30) of the Code.

 

“Notice of Borrowing”
shall have the meaning provided in Section 2.3(a).

 

“Notice of Conversion
or Continuation” shall have the meaning provided in Section 2.6(a).

 

“NYFRB”
shall mean the Federal Reserve Bank of New York.

 

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

 

“NYFRB’s Website”
shall mean the website of the NYFRB at http://www.newyorkfed.org, or any successor source.

 

“Obligations”
shall mean all advances to, and debts, liabilities, obligations, covenants, and duties of, any Credit Party (or in the case of any Secured
Cash Management Agreement or Secured Hedge Agreement, any Restricted Subsidiary) arising under any Credit Document or otherwise with respect
to any Revolving Credit Commitment, Loan, or Letter of Credit or under any Secured Cash Management Agreement, Secured Hedge Agreement
(other than with respect to any Credit Party’s obligations that constitute Excluded Swap Obligations solely with respect to such
Credit Party), in each case, entered into with Holdings or any of the Restricted Subsidiaries, whether direct or indirect (including those
acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees
that accrue after the commencement by or against any Credit Party or any Affiliate thereof of any proceeding under any bankruptcy or insolvency
law naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed or allowable claims
in such proceeding. Without limiting the generality of the foregoing, the Obligations of the Credit Parties under the Credit Documents
(and any of their Subsidiaries to the extent they have obligations under the Credit Documents) include the obligation (including guarantee
obligations) to pay principal, interest, charges, expenses, fees, attorney costs, indemnities, and other amounts payable by any Credit
Party under any Credit Document.

 

     53

     

    

 

“OFAC” shall have the meaning provided in
Section 8.10.

 

“Original Revolving
Credit Commitments” shall mean all Revolving Credit Commitments, Existing Revolving Credit Commitments, and Extended Revolving
Credit Commitments, other than any New Revolving Credit Commitments (and any Extended Revolving Credit Commitments related thereto).

 

“Other Taxes”
shall mean all present or future stamp, registration, court or documentary Taxes or any other excise, property, intangible, mortgage recording,
filing or similar Taxes arising from any payment made hereunder or under any other Credit Document or from the execution, delivery, performance,
enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, this Agreement
or any other Credit Document; provided that such term shall not include (i) any Taxes that result from an assignment, (“Assignment
Taxes”) to the extent such Assignment Taxes are imposed as a result of a connection between the Lender and the taxing jurisdiction
(other than a connection arising solely from any Credit Documents or any transactions contemplated thereunder), except to the extent that
any such action described in this proviso is requested or required by the Borrower or Holdings or (ii) Excluded Taxes.

 

“Overnight Bank Funding
Rate” shall mean, for any day, the rate comprised of both overnight federal funds and overnight eurodollar transactions denominated
in Dollars by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set
forth on the NYFRB’s Website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank
funding rate.

 

“Parent Entity”
shall mean any Person that is a direct or indirect parent company (which may be organized as, among other things, a partnership) of Holdings
and/or the Borrower, as applicable.

 

“Participant”
shall have the meaning provided in Section 13.6(c)(i).

 

“Participant Register”
shall have the meaning provided in Section 13.6(c)(ii).

 

“Participating Member
State” shall mean any member state of the European Union that adopts or has adopted the Euro as its lawful currency in accordance
with legislation of the European Union relating to economic and monetary union.

 

“Patriot Act”
shall have the meaning provided in Section 13.18.

 

“Payment”
shall have the meaning assigned to it in Section 12.14(b).

 

“Payment Notice”
shall have the meaning assigned to it in Section 12.14(b).

 

“PBGC”
shall mean the Pension Benefit Guaranty Corporation referred to and defined in ERISA and any successor entity performing similar functions.

 

     54

     

    

 

“Pension Plan”
shall mean any “employee pension benefit plan” (as defined in Section 3(2) of ERISA, but excluding any Multiemployer
Plan) that is subject to Title IV of ERISA, Section 302 of ERISA or Section 412 of the Code, in respect of which any Credit
Party or any ERISA Affiliate is (or, if such plan were terminated, would under Section 4062 or Section 4069 of ERISA, be deemed
to be) an “employer” as defined in Section 3(5) of ERISA.

 

“Permitted Acquisition”
shall have the meaning provided in clause (iii) of the definition of Permitted Investments.

 

“Permitted Asset
Swap” shall mean the concurrent purchase and sale or exchange of Related Business Assets or a combination of Related Business
Assets and cash or Cash Equivalents between Holdings or a Restricted Subsidiary and another Person; provided that any cash or Cash
Equivalents received must be applied in accordance with Section 10.4.

 

“Permitted Debt Exchange”
shall have the meaning provided in Section 2.15(a).

 

“Permitted Debt Exchange
Notes” shall have the meaning provided in Section 2.15(a).

 

“Permitted Debt Exchange
Offer” shall have the meaning provided in Section 2.15(a).

 

“Permitted Holders”
shall mean each of (i) the Initial Investors and their respective Affiliates (other than any portfolio company of an Initial Investor)
and members of management of Holdings or the Borrower (or their respective direct or indirect parent company or management vehicle) and
their respective Permitted Transferees who are holders of Equity Interests of Holdings (or its direct or indirect parent company or management
vehicle) on the Sixth Amendment Effective Date and any group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of
the Securities Exchange Act or any successor provision) of which any of the foregoing are members; provided that, in the case of
such group and without giving effect to the existence of such group or any other group, such Initial Investors, their respective Affiliates
and members of management, collectively, have beneficial ownership of more than 50% of the total voting power of the Voting Stock of Holdings
or any other direct or indirect Parent Entity, (ii) any direct or indirect Parent Entity formed not in connection with, or in contemplation
of, a transaction (other than Transactions) that, assuming such parent was not formed, after giving effect thereto would constitute a
Change of Control and (iii) any entity (other than a Parent Entity) through which a Parent Entity described in clause (ii) directly
or indirectly holds Equity Interests of the Borrower and has no other material operations other than those incidental thereto.

 

“Permitted Investments”
shall mean:

 

(i)              any
Investment in Holdings or any Restricted Subsidiary;

 

(ii)             any
Investment in cash, Cash Equivalents, or Investment Grade Securities at the time such Investment is made;

 

(iii)            (a) any
transactions or Investments otherwise made in connection with the Transactions and (b) any Investment by Holdings or any Restricted
Subsidiary in a Person that is engaged in a Similar Business if as a result of such Investment (a “Permitted Acquisition”),
(1) such Person becomes a Restricted Subsidiary or (2) such Person, in one transaction or a series of related transactions,
is merged, consolidated, or amalgamated with or into, or transfers or conveys substantially all of its assets to, or is liquidated into,
Holdings or a Restricted Subsidiary, and, in each case, any Investment held by such Person; provided that such Investment was not
acquired by such Person in contemplation of such acquisition, merger, consolidation, or transfer;

 

     55

     

    

 

(iv)            any
Investment in securities or other assets not constituting cash, Cash Equivalents, or Investment Grade Securities and received in connection
with an Asset Sale made pursuant to Section 10.4 or any other disposition of assets not constituting an Asset Sale;

 

(v)             (a) any
Investment existing or contemplated on the Closing Date and, in each case, listed on Schedule 10.5 and (b) Investments consisting
of any modification, replacement, renewal, reinvestment, or extension of any such Investment; provided that the amount of any such
Investment is not increased from the amount of such Investment on the Closing Date except pursuant to the terms of such Investment (including
in respect of any unused commitment), plus any accrued but unpaid interest (including any portion thereof which is payable in kind
in accordance with the terms of such modified, extended, renewed, or replaced Investment) and premium payable by the terms of such Indebtedness
thereon and fees and expenses associated therewith as of the Closing Date;

 

(vi)            any
Investment acquired by Holdings or any Restricted Subsidiary (a) in exchange for any other Investment or accounts receivable held
by Holdings or any such Restricted Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization, or recapitalization
of Holdings of such other Investment or accounts receivable or (b) as a result of a foreclosure by Holdings or any Restricted Subsidiary
with respect to any secured Investment or other transfer of title with respect to any secured Investment in default;

 

(vii)           Hedging
Obligations permitted under clause (j) of Section 10.1 and Cash Management Services;

 

(viii)          any
Investment in a Similar Business having an aggregate Fair Market Value, taken together with all other Investments made pursuant to this
clause (viii) that are at that time outstanding, not to exceed the greater of (a) $120,000,000 and (b) 40% of Consolidated
EBITDA for the most recently ended Test Period (calculated on a Pro Forma Basis) at the time of such Investment (with the Fair Market
Value of each Investment being measured at the time made and without giving effect to subsequent changes in value); provided, however,
that if any Investment pursuant to this clause (viii) is made in any Person that is not a Restricted Subsidiary at the date
of the making of such Investment and such Person becomes a Restricted Subsidiary after such date, such investment shall thereafter be
deemed to have been made pursuant to clause (i) above and shall cease to have been made pursuant to this clause (viii) for
so long as such Person continues to be a Restricted Subsidiary;

 

(ix)             Investments
the payment for which consists of Equity Interests of Holdings or any direct or indirect parent company of Holdings (exclusive of Disqualified
Stock); provided that such Equity Interests will not increase the amount available for Restricted Payments under Section 10.5(a)(iii);

 

(x)             guarantees
of Indebtedness permitted under Section 10.1;

 

(xi)             any
transaction to the extent it constitutes an Investment that is permitted and made in accordance with the provisions of Section 9.9
(except transactions described in clauses (b) of such paragraph);

 

(xii)            Investments
consisting of purchases and acquisitions of inventory, supplies, material, equipment, or other similar assets in the ordinary course of
business;

 

     56

     

    

 

(xiii)          additional
Investments having an aggregate Fair Market Value, taken together with all other Investments made pursuant to this clause (xiii) that
are at that time outstanding (without giving effect to the sale of an Unrestricted Subsidiary to the extent the proceeds of such sale
do not consist of cash or marketable securities), not to exceed the greater of (a) $105,000,000 and (b) 35% of Consolidated
EBITDA for the most recently ended Test Period (calculated on a Pro Forma Basis) at the time of such Investment (with the Fair Market
Value of each Investment being measured at the time made and without giving effect to subsequent changes in value); provided, however,
that if any Investment pursuant to this clause (xiii) is made in any Person that is not a Restricted Subsidiary at the date
of the making of such Investment and such Person becomes a Restricted Subsidiary after such date, such investment shall thereafter be
deemed to have been made pursuant to clause (i) above and shall cease to have been made pursuant to this clause (xiii) for
so long as such Person continues to be a Restricted Subsidiary;

 

(xiv)          Investments
relating to any Receivables Subsidiary that, in the good faith determination of the board of directors of Holdings, are necessary or advisable
to effect a Receivables Facility or any repurchases or other transactions in connection therewith;

 

(xv)          advances
to, or guarantees of Indebtedness of, employees not in excess of the greater of (a) $15,000,000 and (b) 5.00% of Consolidated
EBITDA for the most recently ended Test Period (calculated on a Pro Forma Basis) at the time of such Investment;

 

(xvi)          (a) loans
and advances to officers, directors, managers, and employees for business-related travel expenses, moving expenses, and other similar
expenses, in each case incurred in the ordinary course of business or consistent with past practices or to fund such Person’s purchase
of Equity Interests of Holdings or any direct or indirect parent company thereof, (b) promissory notes received from equity holders
of Holdings, any direct or indirect parent company of Holdings  or any Subsidiary in connection with the exercise of stock options
in respect of the Equity Interests of Holdings, any direct or indirect parent company of Holdings and the Subsidiaries and (c) advances
of payroll payments to employees in the ordinary course of business;

 

(xvii)          Investments
consisting of extensions of trade credit in the ordinary course of business;

 

(xviii)          Investments
in the ordinary course of business consisting of Uniform Commercial Code Article 3 endorsements for collection or deposit and Uniform
Commercial Code Article 4 customary trade arrangements with customers consistent with past practices;

 

(xix)          non-cash
Investments in connection with tax planning and reorganization activities; provided that after giving effect to any such activities,
the security interests of the Lenders in the Collateral, taken as a whole, would not be materially impaired;

 

(xx)  the licensing
and contribution of Intellectual Property pursuant to joint  development, venture or marketing arrangements with other Persons, in
the ordinary course of business;

 

(xxi) Investments
made in the ordinary course of business in connection with obtaining, maintaining or renewing client, franchisee and customer contracts
and loans or advances made to, and guarantees with respect to obligations of, franchisees, distributors, suppliers, licensors and licensees
in the ordinary course of business;

 

     57

     

    

 

(xxii) contributions
to a “rabbi” trust for the benefit of employees, directors, consultants, independent contractors or other service providers
or other grantor trust subject to claims of creditors in the case of a bankruptcy of the Borrower;

 

(xxiii) Investments
by an Unrestricted Subsidiary entered into prior to the day such Unrestricted Subsidiary is redesignated as a Restricted Subsidiary pursuant
to the definition of “Unrestricted Subsidiary”; and

 

(xxiv) Investments
of a Subsidiary acquired after the Closing Date or of a Person merged or consolidated with any Subsidiary in accordance with this definition
of “Permitted Investments”, Section 10.3 and/or Section 10.5 after the Closing Date to the extent
that such Investments were not made in contemplation of or in connection with such acquisition, merger or consolidation and were in existence
on the date of such acquisition, merger or consolidation.

 

“Permitted Liens”
shall mean, with respect to any Person:

 

(i)              pledges
or deposits by such Person under workmen’s compensation laws, unemployment insurance laws, or similar legislation, or good faith
deposits in connection with bids, tenders, contracts (other than for the payment of Indebtedness), or leases to which such Person is a
party, or deposits to secure public or statutory obligations of such Person or deposits of cash or U.S. government bonds to secure surety
or appeal bonds to which such Person is a party, or deposits as security for the payment of rent or deposits made to secure obligations
arising from contractual or warranty refunds, in each case, incurred in the ordinary course of business;

 

(ii)             Liens
imposed by law, such as carriers’, warehousemen’s, materialmen’s, repairmen’s, and mechanics’ Liens, in
each case, for sums not yet overdue for a period of more than 60 days or, if more than 60 days overdue, are unfiled and no other action
has been taken to enforce such Lien or that are being contested in good faith by appropriate proceedings or other Liens arising out of
judgments or awards against such Person with respect to which such Person shall then be proceeding with an appeal or other proceedings
for review if adequate reserves with respect thereto are maintained on the books of such Person in accordance with GAAP;

 

(iii)            Liens
for taxes, assessments, or other governmental charges not yet overdue for a period of more than 60 days or which are being contested in
good faith by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of such
Person in accordance with GAAP or are not required to be paid pursuant to Section 8.11, or for property taxes on property
Holdings or one of its Subsidiaries has determined to abandon if the sole recourse for such tax, assessment, charge, levy, or claim is
to such property;

 

(iv)            Liens
in favor of issuers of performance, surety, bid, indemnity, warranty, release, appeal, or similar bonds or with respect to other regulatory
requirements or letters of credit or bankers’ acceptances issued, and completion guarantees provided for, in each case pursuant
to the request of and for the account of such Person in the ordinary course of its business;

 

(v)             minor
survey exceptions, minor encumbrances, ground leases, leases, easements, or reservations of, or rights of others for, licenses, rights-of-way,
servitudes, sewers, electric lines, drains, telegraph and telephone and cable television lines, gas and oil pipelines, and other similar
purposes, or zoning, building codes, or other restrictions (including, without limitation, minor defects or irregularities in title and
similar encumbrances) as to the use of real properties or Liens incidental, to the conduct of the business of such Person or to the ownership
of its properties which were not incurred in connection with Indebtedness and which do not in the aggregate materially adversely affect
the value of said properties or materially impair their use in the operation of the business of such Person;

 

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(vi)            Liens
securing Indebtedness permitted to be incurred pursuant to clause (a), (b) (so long as such Liens are subject to the
Second Lien Intercreditor Agreement), (d), (l)(ii), (r), (w), (x) or (y) of Section 10.1;
provided that, (a) in the case of clause (d) of Section 10.1, such Lien may not extend to any property
or equipment (or assets affixed or appurtenant thereto) other than the property or equipment being financed or refinanced under such clause
(d) of Section 10.1, replacements of such property, equipment or assets, and additions and accessions and in the
case of multiple financings of equipment provided by any lender, other equipment financed by such lender; (b) in the case of clause
(r) of Section 10.1, such Lien may not extend to any assets other than the assets owned by the Restricted Subsidiaries
incurring such Indebtedness; (c) in the case of Liens securing Permitted Other Indebtedness Obligations that constitute First Lien
Obligations pursuant to this clause (vi), the applicable Permitted Other Indebtedness Secured Parties (or a representative thereof
on behalf of such holders) shall enter into security documents with terms and conditions not materially more restrictive to the Credit
Parties, taken as a whole, than the terms and conditions of the Security Documents and (1) in the case of the first such issuance
of Permitted Other Indebtedness constituting First Lien Obligations, the Collateral Agent, the Administrative Agent and the representative
for the holders of such Permitted Other Indebtedness Obligations shall have entered into the First Lien Intercreditor Agreement and (2) in
the case of subsequent issuances of Permitted Other Indebtedness constituting First Lien Obligations, the representative for the holders
of such Permitted Other Indebtedness Obligations shall have become a party to the First Lien Intercreditor Agreement in accordance with
the terms thereof; and (d) in the case of Liens securing Permitted Other Indebtedness Obligations that do not constitute First Lien
Obligations pursuant to this clause (vi), the applicable Permitted Other Indebtedness Secured Parties (or a representative thereof
on behalf of such holders) shall enter into security documents with terms and conditions not materially more restrictive to the Credit
Parties, taken as a whole, than the terms and conditions of the Security Documents and shall (x) in the case of the first such issuance
of Permitted Other Indebtedness that do not constitute First Lien Obligations, the Collateral Agent, the Administrative Agent and the
representative of the holders of such Permitted Other Indebtedness Obligations shall have entered into the Second Lien Intercreditor Agreement
and (y) in the case of subsequent issuances of Permitted Other Indebtedness that do not constitute First Lien Obligations, the representative
for the holders of such Permitted Other Indebtedness shall have become a party to the Second Lien Intercreditor Agreement in accordance
with the terms thereof; without any further consent of the Lenders, the Administrative Agent and the Collateral Agent shall be authorized
to execute and deliver on behalf of the Secured Parties the First Lien Intercreditor Agreement and the Second Lien Intercreditor Agreement
contemplated by this clause (vi);

 

(vii)           subject
to Section 9.14, other than with respect to Mortgaged Property, Liens existing on the Closing Date; provided that any
Lien securing Indebtedness or other obligations in excess of (a) $5,000,000 individually or (b) $10,000,000 in the aggregate
(when taken together with all other Liens securing obligations outstanding in reliance on this clause (b) that are not listed
on Schedule 10.2) shall only be permitted if set forth on Schedule 10.2, and, in each case, any modifications, replacements,
renewals, or extensions thereof;

 

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(viii)          Liens
on property or shares of stock of a Person at the time such Person becomes a Subsidiary; provided such Liens are not created or
incurred in connection with, or in contemplation of, such other Person becoming a Subsidiary; provided, further, however,
that such Liens may not extend to any other property owned by Holdings or any Restricted Subsidiary (other than, with respect to such
Person, any replacements of such property or assets and additions and accessions thereto, after-acquired property subject to a Lien securing
Indebtedness and other obligations incurred prior to such time and which Indebtedness and other obligations are permitted hereunder that
require, pursuant to their terms at such time, a pledge of after-acquired property of such Person, and the proceeds and the products thereof
and customary security deposits in respect thereof and in the case of multiple financings of equipment provided by any lender, other equipment
financed by such lender, it being understood that such requirement shall not be permitted to apply to any property to which such requirement
would not have applied but for such acquisition);

 

(ix)             Liens
on property at the time Holdings or a Restricted Subsidiary acquired the property, including any acquisition by means of a merger or consolidation
with or into Holdings or any Restricted Subsidiary or the designation of an Unrestricted Subsidiary as a Restricted Subsidiary; provided
that such Liens are not created or incurred in connection with, or in contemplation of, such acquisition, merger, consolidation, or designation;
provided, further, however, that such Liens may not extend to any other property owned by Holdings or any Restricted
Subsidiary (other than, with respect to such property, any replacements of such property or assets and additions and accessions thereto,
after-acquired property subject to a Lien securing Indebtedness and other obligations incurred prior to such time and which Indebtedness
and other obligations are permitted hereunder that require, pursuant to their terms at such time, a pledge of after-acquired property,
and the proceeds and the products thereof and customary security deposits in respect thereof and in the case of multiple financings of
equipment provided by any lender, other equipment financed by such lender, it being understood that such requirement shall not be permitted
to apply to any property to which such requirement would not have applied but for such acquisition);

 

(x)              Liens
on property of any Restricted Subsidiary that is not a Credit Party, which Liens secure Indebtedness of such Restricted Subsidiary or
another Restricted Subsidiary that is not a Credit Party, in each case to the extent permitted to be incurred in accordance with Section 10.1;

 

(xi)             Liens
securing Hedging Obligations and Cash Management Services so long as the related Indebtedness is, and is permitted hereunder to be, secured
by a Lien on the same property securing such Hedging Obligations and Cash Management Services;

 

(xii)            Liens
on specific items of inventory or other goods and proceeds of any Person securing such Person’s obligations in respect of bankers’
acceptances issued or created for the account of such Person to facilitate the purchase, shipment, or storage of such inventory or other
goods;

 

(xiii)           leases,
subleases, licenses, or sublicenses (including of Intellectual Property) granted to others in the ordinary course of business;

 

(xiv)           Liens
arising from Uniform Commercial Code financing statement filings regarding operating leases or consignments entered into by Holdings or
any Restricted Subsidiary in the ordinary course of business;

 

(xv)           Liens
in favor of Holdings, the Borrower, or any other Guarantor;

 

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(xvi)          Liens
on equipment of Holdings or any Restricted Subsidiary granted in the ordinary course of business to Holdings’ or such Restricted
Subsidiary’s client at which such equipment is located;

 

(xvii)          Liens
on accounts receivable and related assets incurred in connection with a Receivables Facility;

 

(xviii)          Liens
to secure any refinancing, refunding, extension, renewal, or replacement (or successive refinancing, refunding, extensions, renewals,
or replacements) as a whole, or in part, of any Indebtedness secured by any Lien referred to in clauses (vi), (vii), (viii),
(ix), (x), and (xv) of this definition of Permitted Liens; provided that (a) such new Lien shall
be limited to all or part of the same property that secured the original Lien (plus improvements on such property), and (b) the Indebtedness
secured by such Lien at such time is not increased to any amount greater than the sum of (1) the outstanding principal amount or,
if greater, committed amount of the Indebtedness described under clauses (vi), (vii), (viii), (ix), (x),
and (xv) at the time the original Lien became a Permitted Lien under this Agreement, and (2) an amount necessary to pay
any fees and expenses, including premiums and accrued and unpaid interest, related to such refinancing, refunding, extension, renewal,
or replacement;

 

(xix)           deposits
made or other security provided to secure liabilities to insurance carriers under insurance or self-insurance arrangements in the ordinary
course of business;

 

(xx)            other
Liens securing obligations which do not exceed the greater of (a) $120,000,000 and (b) 40% of Consolidated EBITDA for the most
recently ended Test Period (calculated on a Pro Forma Basis) at the time of the incurrence of such Lien;

 

(xxi)           Liens
securing judgments for the payment of money not constituting an Event of Default under Section 11.5 or Section 11.10;

 

(xxii)          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 in the ordinary course of business;

 

(xxiii)          Liens
(a) of a collection bank arising under Section 4-210 of the Uniform Commercial Code or any comparable or successor provision
on items in the course of collection, (b) attaching to commodity trading accounts or other commodity brokerage accounts incurred
in the ordinary course of business, and (c) in favor of banking or other financial institutions or other electronic payment service
providers arising as a matter of law encumbering deposits (including the right of set-off) and which are within the general parameters
customary in the banking or finance industry;

 

(xxiv)         Liens
deemed to exist in connection with Investments in repurchase agreements permitted under Section 10.1; provided that
such Liens do not extend to any assets other than those that are the subject of such repurchase agreement;

 

(xxv)          Liens
encumbering reasonable customary initial deposits and margin deposits and similar Liens attaching to commodity trading accounts or other
brokerage accounts incurred in the ordinary course of business and not for speculative purposes;

 

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(xxvi)            Liens
that are contractual rights of set-off (a) relating to the establishment of depository relations with banks not given in connection
with the issuance of Indebtedness, (b) relating to pooled deposit or sweep accounts of Holdings or any of the Restricted Subsidiaries
to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of Holdings and the Restricted
Subsidiaries, or (c) relating to purchase orders and other agreements entered into by Holdings or any of the Restricted Subsidiaries
in the ordinary course of business;

 

(xxvii)           Liens
(a) solely on any cash earnest money deposits made by Holdings or any of the Restricted Subsidiaries in connection with any letter
of intent or purchase agreement permitted under this Agreement or (b) consisting of an agreement to dispose of any property pursuant
to a disposition permitted hereunder;

 

(xxviii)          rights
reserved or vested in any Person by the terms of any lease, license, franchise, grant, or permit held by Holdings or any of the Restricted
Subsidiaries or by a statutory provision, to terminate any such lease, license, franchise, grant, or permit, or to require annual or periodic
payments as a condition to the continuance thereof;

 

(xxix)            restrictive
covenants affecting the use to which real property may be put; provided that the covenants are complied with;

 

(xxx)             security
given to a public utility or any municipality or governmental authority when required by such utility or authority in connection with
the operations of that Person in the ordinary course of business;

 

(xxxi)            zoning
by-laws and other land use restrictions, including, without limitation, site plan agreements, development agreements, and contract zoning
agreements;

 

(xxxii)           Liens
arising out of conditional sale, title retention, consignment, or similar arrangements for sale of goods entered into by Holdings or any
Restricted Subsidiary in the ordinary course of business;

 

(xxxiii)          Liens
arising under the Security Documents;

 

(xxxiv)          Liens
on goods purchased in the ordinary course of business the purchase price of which is financed by a documentary letter of credit issued
for the account of Holdings, the Borrower or any of their Subsidiaries;

 

(xxxv)           (a) Liens
on Equity Interests in joint ventures; provided that any such Lien is in favor of a creditor of such joint venture and such creditor
is not an Affiliate of any partner to such joint venture and (b) purchase options, call, and similar rights of, and restrictions
for the benefit of, a third party with respect to Equity Interests held by Holdings or any Restricted Subsidiary in joint ventures;

 

(xxxvi)          Liens
on cash and Cash Equivalents that are earmarked to be used to satisfy or discharge Indebtedness; provided (a) such cash and/or
Cash Equivalents are deposited into an account from which payment is to be made, directly or indirectly, to the Person or Persons holding
the Indebtedness that is to be satisfied or discharged, (b) such Liens extend solely to the account in which such cash and/or Cash
Equivalents are deposited and are solely in favor of the Person or Persons holding the Indebtedness (or any agent or trustee for such
Person or Persons) that is to be satisfied or discharged, and (c) the satisfaction or discharge of such Indebtedness is expressly
permitted hereunder;

 

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(xxxvii)         with
respect to any Foreign Subsidiary, other Liens and privileges arising mandatorily by any Requirement of Law;

 

(xxxviii)        to
the extent pursuant to a Requirements of Law, Liens on cash or Permitted Investments securing Swap Obligations in the ordinary course
of business; and

 

(xxxvix)        with
respect to any Mortgaged Property, the matters listed as exceptions to title on Schedule B (or other applicable schedule) of the final
Title Policy covering such Mortgaged Property delivered to the Collateral Agent.

 

For purposes of this definition, the term Indebtedness
shall be deemed to include interest on, and fees, expenses and other obligations payable with respect to, such Indebtedness.

 

“Permitted Other
Indebtedness” shall mean subordinated or senior Indebtedness (which Indebtedness may (i) be unsecured, (ii) have the
same lien priority as the First Lien Obligations (without regard to control of remedies), provided that if such Permitted Other
Indebtedness is in the form of secured first lien term loans, then such Permitted Other Indebtedness shall be subject to any applicable
MFN Protection as if such loans were New Term Loans, or (iii) be secured by a Lien ranking junior to the Lien securing the First
Lien Obligations), in each case issued or incurred by the Borrower or other Guarantor, (a) except with respect to the Maturity Carveout
Amount, the terms of which do not provide for any scheduled repayment, mandatory repayment, or redemption or sinking fund obligations
prior to, at the time of incurrence, the Latest Term Loan Maturity Date (other than, in each case, customary offers or obligations to
repurchase or repay upon a change of control, excess cash flow sweep, asset sale, or casualty or condemnation event, applicable high yield
discount obligation (“AHYDO”) payments and customary acceleration rights after an event of default), (b) the covenants,
taken as a whole, are not materially more restrictive to the Borrower and the other Restricted Subsidiaries than those herein (taken as
a whole) (except for covenants applicable only to periods after the Latest Term Loan Maturity Date at the time of such refinancing) (it
being understood that, (1) to the extent that any financial maintenance covenant is added for the benefit of any such Indebtedness,
no consent shall be required by the Administrative Agent or any of the Lenders if such financial maintenance covenant is also added for
the benefit of any corresponding Loans remaining outstanding after the issuance or incurrence of such Indebtedness or (2) no consent
shall be required by the Administrative Agent or any of the Lenders if any covenants are only applicable after the Latest Term Loan Maturity
Date at the time of such refinancing); provided that a certificate of an Authorized Officer of the Borrower delivered to the Administrative
Agent at least five Business Days (or such shorter period as the Administrative Agent may reasonably agree) prior to the incurrence of
such Indebtedness, together with a reasonably detailed description of the material terms and conditions of such Indebtedness or drafts
of the documentation relating thereto, stating that the Borrower has determined in good faith that such terms and conditions satisfy the
foregoing requirement shall be conclusive evidence that such terms and conditions satisfy the foregoing requirement unless the Administrative
Agent notifies the Borrower within two Business Days after receipt of such certificate that it disagrees with such determination (including
a reasonable description of the basis upon which it disagrees), (c) of which no Subsidiary of Holdings (other than the Borrower or
a Guarantor) is an obligor, (d) that, if secured, is not secured by a lien on any assets other than the Collateral and (e) the
other terms of which shall be on terms and documentation as determined by the Borrower and the lenders providing such Indebtedness.

 

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“Permitted Other
Indebtedness Documents” shall mean any document or instrument (including any guarantee, security agreement, or mortgage and
which may include any or all of the Credit Documents) issued or executed and delivered with respect to any Permitted Other Indebtedness
by any Credit Party.

 

“Permitted Other
Indebtedness Obligations” shall mean, if any Permitted Other Indebtedness is issued or incurred, all advances to, and debts,
liabilities, obligations, covenants, and duties of, any Credit Party arising under any Permitted Other Indebtedness Document, whether
direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising,
and including interest and fees that accrue after the commencement by or against any Credit Party or any Affiliate thereof of any proceeding
under any bankruptcy or insolvency law naming such Person as the debtor in such proceeding, regardless of whether such interest and fees
are allowed claims in such proceeding. Without limiting the generality of the foregoing, the Permitted Other Indebtedness Obligations
of the applicable Credit Parties under the Permitted Other Indebtedness Documents (and any of their Restricted Subsidiaries to the extent
they have obligations under the Permitted Other Indebtedness Documents) include the obligation (including guarantee obligations) to pay
principal, interest, charges, expenses, fees, attorney costs, indemnities, and other amounts payable by any such Credit Party under any
Permitted Other Indebtedness Document.

 

“Permitted Other
Indebtedness Secured Parties” shall mean the holders from time to time of secured Permitted Other Indebtedness Obligations (and
any representative on their behalf).

 

“Permitted Other
Provision” shall have the meaning provided in Section 2.14(g)(i).

 

“Permitted Repricing
Amendment” shall have the meaning provided in Section 13.1.

 

“Permitted Sale Leaseback”
shall mean any Sale Leaseback consummated by Holdings or any of the Restricted Subsidiaries after the Closing Date; provided that
any such Sale Leaseback not between Holdings and a Restricted Subsidiary is consummated for fair value as determined at the time of consummation
in good faith by (i) Holdings or such Restricted Subsidiary or (ii) in the case of any Sale Leaseback (or series of related
Sales Leasebacks) the aggregate proceeds of which exceed the greater of (a) $90,000,000 and (b) 30% of Consolidated EBITDA for
the most recently ended Test Period (calculated on a Pro Forma Basis) at the time of the incurrence of such Sale Leaseback, the board
of directors (or analogous governing body) of Holdings or such Restricted Subsidiary (which such determination may take into account any
retained interest or other Investment of Holdings or such Restricted Subsidiary in connection with, and any other material economic terms
of, such Sale Leaseback).

 

“Permitted Transferees”
shall mean, with respect to any Person that is a natural person (and any Permitted Transferee of such Person), (a) such Person’s
Immediate Family Members, including his or her spouse, ex-spouse, children, step-children and their respective lineal descendants and
(b) without duplication with any of the foregoing, such Person’s heirs, executors and/or administrators upon the death of such
Person and any other Person who was an Affiliate of such Person upon the death of such Person and who, upon such death, directly or indirectly
owned Equity Interests in the Borrower or any other Parent Entity.

 

“Person”
shall mean any individual, partnership, joint venture, firm, corporation, limited liability company, association, trust, or other enterprise
or any Governmental Authority.

 

“Plan”
shall mean, other than any Multiemployer Plan, any employee benefit plan (as defined in Section 3(3) of ERISA), including any
employee welfare benefit plan (as defined in Section 3(1) of ERISA), any employee pension benefit plan (as defined in Section 3(2) of
ERISA), and any plan which is both an employee welfare benefit plan and an employee pension benefit plan, and in respect of which any
Credit Party or, with respect to any such plan that is subject to Title IV of ERISA, Section 302 of ERISA or Section 412 of
the Code, any ERISA Affiliate is (or, if such Plan were terminated, would under Section 4062 or Section 4069 of ERISA be reasonably
likely to be deemed to be) an “employer” as defined in Section 3(5) of ERISA.

 

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“Planned Expenditures”
shall have the meaning provided in the definition of the term Excess Cash Flow.

 

“Platform”
shall have the meaning provided in Section 13.17(a).

 

“Pledge Agreement”
shall mean the First Lien Pledge Agreement, entered into as of the Closing Date by the Credit Parties party thereto and the Collateral
Agent for the benefit of the Secured Parties, substantially in the form of Exhibit C.

 

“Post-Acquisition
Period” shall mean, with respect to any Permitted Acquisition, the period beginning on the date such Permitted Acquisition is
consummated and ending on the last day of the eighth full consecutive fiscal quarter immediately following the date on which such Permitted
Acquisition is consummated.

 

“Prepayment Event”
shall mean any Asset Sale Prepayment Event, Debt Incurrence Prepayment Event, Casualty Event, or any Permitted Sale Leaseback.

 

“Prepayment Trigger”
shall have the meaning provided in the definition of the term Asset Sale Prepayment Event.

 

“primary obligation”
shall have the meaning provided such term in the definition of Contingent Obligations.

 

“primary obligor”
shall have the meaning provided such term in the definition of Contingent Obligations.

 

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

 

“Pro Forma Adjustment”
shall mean, for any Test Period that includes all or any part of a fiscal quarter included in any Post-Acquisition Period, with respect
to the Acquired EBITDA of the applicable Acquired Entity or Business or Converted Restricted Subsidiary or the Consolidated EBITDA of
Holdings, the pro forma increase or decrease in such Acquired EBITDA or such Consolidated EBITDA, as the case may be, projected by Holdings
in good faith as a result of (i) actions taken during such Post-Acquisition Period for the purposes of realizing reasonably identifiable
and factually supportable cost savings or (ii) any additional costs incurred during such Post-Acquisition Period, in each case in
connection with the combination of the operations of such Acquired Entity or Business or Converted Restricted Subsidiary with the operations
of Holdings and the Restricted Subsidiaries; provided that (a) at the election of Holdings, such Pro Forma Adjustment shall
not be required to be determined for any Acquired Entity or Business or Converted Restricted Subsidiary to the extent the aggregate consideration
paid in connection with such acquisition was less than $10,000,000 and (b) so long as such actions are taken during such Post-Acquisition
Period or such costs are incurred during such Post-Acquisition Period, as applicable, it may be assumed, for purposes of projecting such
pro forma increase or decrease to such Acquired EBITDA or such Consolidated EBITDA, as the case may be, that the applicable amount of
such cost savings will be realizable during the entirety of such Test Period, or the applicable amount of such additional costs, as applicable,
will be incurred during the entirety of such Test Period; provided, further, that any such pro forma increase or decrease
to such Acquired EBITDA or such Consolidated EBITDA, as the case may be, shall be without duplication for cost savings or additional costs
already included in such Acquired EBITDA, such Consolidated EBITDA or Section 1.12, as the case may be, for such Test Period.

 

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“Pro Forma Basis,”
 “Pro Forma Compliance,” and “Pro Forma Effect” shall mean, with respect to compliance with any test,
financial ratio, or covenant hereunder, that (i) to the extent applicable, the Pro Forma Adjustment shall have been made and (ii) all
Specified Transactions and the following transactions in connection therewith shall be deemed to have occurred as of the first day of
the applicable period of measurement in such test or covenant: (a) income statement items (whether positive or negative) attributable
to the property or Person subject to such Specified Transaction, (1) in the case of a sale, transfer, or other disposition of all
or substantially all Capital Stock in any Subsidiary of Holdings or any division, product line, or facility used for operations of Holdings
or any of its Subsidiaries, shall be excluded, and (2) in the case of a Permitted Acquisition or Investment described in the definition
of Specified Transaction, shall be included, (b) any retirement of Indebtedness, and (c) other than as set forth in the definition
of Maximum Incremental Facilities Amount, any incurrence or assumption of Indebtedness by Holdings or any of the Restricted Subsidiaries
in connection therewith (it being agreed that if such Indebtedness has a floating or formula rate, such Indebtedness shall have an implied
rate of interest for the applicable period for purposes of this definition determined by utilizing the rate that is or would be in effect
with respect to such Indebtedness as at the relevant date of determination); provided that, without limiting the application of
the Pro Forma Adjustment pursuant to clause (a) above, the foregoing pro forma adjustments may be applied to any such test
or covenant solely to the extent that such adjustments are consistent with the definition of Consolidated EBITDA and give effect to operating
expense reductions and operating enhancements that are (x)(1) directly attributable to such transaction, (2) expected to have
a continuing impact on Holdings, the Borrower or any of the other Restricted Subsidiaries, and (3) factually supportable or (y) otherwise
consistent with the definition of Pro Forma Adjustment.

 

“Pro Forma Entity”
shall have the meaning provided in the definition of the term Acquired EBITDA.

 

“Prohibited Transaction”
shall have the meaning assigned to such term in Section 406 of ERISA and Section 4975(c) of the Code.

 

“Public Company Costs”
shall mean costs relating to compliance with the provisions of the Securities Act of 1933, as amended, and the Securities Exchange Act,
and other applicable Requirements of Law, in each case as applicable to companies with equity or debt securities held by the public, the
rules of national securities exchange companies with listed equity or debt securities, directors’ or managers’ compensation,
fees and expense reimbursement, costs relating to investor relations, shareholder meetings and reports to shareholders or debtholders,
directors’ and officers’ insurance and other executive costs, legal and other professional fees, and listing fees.

 

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

 

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“QFC Credit Support”
shall have the meaning provided in Section 13.24.

 

“Qualified Proceeds”
shall mean assets that are used or useful in, or Capital Stock of any Person engaged in, a Similar Business.

 

“Qualified Stock”
of any Person shall mean Capital Stock of such Person other than Disqualified Stock of such Person.

 

“Qualifying IPO”
shall mean the issuance by Holdings or any Parent Entity of its common Equity Interests in an underwritten primary public offering (other
than a public offering pursuant to a registration statement on Form S-8) pursuant to an effective registration statement filed with
the SEC in accordance with the Securities Act (whether alone or in connection with a secondary public offering) or in a firm commitment
underwritten offering (or series of related offerings of securities to the public pursuant to a final prospectus) made pursuant to the
Securities Act.

 

“Real Estate”
shall have the meaning provided in Section 9.1(f).

 

“Receivables Facility”
shall mean any of one or more receivables financing facilities (and any guarantee of such financing facility), as amended, supplemented,
modified, extended, renewed, restated, or refunded from time to time, the obligations of which are non-recourse (except for customary
representations, warranties, covenants, and indemnities made in connection with such facilities) to Holdings and the Restricted Subsidiaries
(other than a Receivables Subsidiary) pursuant to which Holdings or any Restricted Subsidiary sells, directly or indirectly, grants a
security interest in or otherwise transfers its accounts receivable to either (i) a Person that is not a Restricted Subsidiary or
(ii) a Receivables Subsidiary that in turn funds such purchase by purporting to sell its accounts receivable to a Person that is
not a Restricted Subsidiary or by borrowing from such a Person or from another Receivables Subsidiary that in turn funds itself by borrowing
from such a Person.

 

“Receivables Fee”
shall mean distributions or payments made directly or by means of discounts with respect to any accounts receivable or participation interest
issued or sold in connection with, and other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Receivables
Facility.

 

“Receivables Subsidiary”
shall mean any Subsidiary formed for the purpose of facilitating or entering into one or more Receivables Facilities, and in each case
engages only in activities reasonably related or incidental thereto or another Person formed for the purposes of engaging in a Receivables
Facility in which Holdings or any Subsidiary makes an Investment and to which Holdings or any Subsidiary transfers accounts receivables
and related assets.

 

“Recipient”
shall mean (a) the Administrative Agent, (b) any Lender and (c) any Letter of Credit Issuer, as applicable.

 

“Reference Time”
with respect to any setting of the then-current Benchmark shall mean, if such Benchmark is the Term SOFR Rate, 5:00 a.m. (Chicago
time) on the day that is two Business Days preceding the date of such setting or the time determined by the Administrative Agent in its
reasonable discretion.

 

“Refinanced Term
Loans” shall have the meaning provided in Section 13.1.

 

“Refinancing Indebtedness”
shall have the meaning provided in Section 10.1(x).

 

    	 	67	 

     

    

 

“Refunding Capital
Stock” shall have the meaning provided in Section 10.5(b)(2).

 

“Register”
shall have the meaning provided in Section 13.6(b)(iv).

 

“Regulation T”
shall mean Regulation T of the Federal Reserve Board as from time to time in effect and any successor to all or a portion thereof establishing
margin requirements.

 

“Regulation U”
shall mean Regulation U of the Federal Reserve Board as from time to time in effect and any successor to all or a portion thereof establishing
margin requirements.

 

“Regulation X”
shall mean Regulation X of the Federal Reserve Board as from time to time in effect and any successor to all or a portion thereof establishing
margin requirements.

 

“Reimbursement Date”
shall have the meaning provided in Section 3.4(a).

 

“Reimbursement Obligations”
shall mean the Borrower’s obligations to reimburse Unpaid Drawings pursuant to Section 3.4(a).

 

“Reinvestment Period”
shall mean 540 days following the date of receipt of Net Cash Proceeds of an Asset Sale Prepayment Event, Casualty Event, or Permitted
Sale Leaseback.

 

“Rejection Notice”
shall have the meaning provided in Section 5.2(f).

 

“Related Business
Assets” shall mean assets (other than cash or Cash Equivalents) used or useful in a Similar Business; provided that any
assets received by Holdings or the Restricted Subsidiaries in exchange for assets transferred by Holdings or a Restricted Subsidiary shall
not be deemed to be Related Business Assets if they consist of securities of a Person, unless upon receipt of the securities of such Person,
such Person would become a Restricted Subsidiary.

 

“Related Fund”
shall mean, with respect to any Lender that is a Fund, any other Fund that is advised or managed by (a) such Lender, (b) an
Affiliate of such Lender or (c) an entity or an Affiliate of such entity that administers, advises or manages such Lender.

 

“Related Parties”
shall mean, with respect to any specified Person, such Person’s Affiliates and the directors, officers, employees, agents, trustees,
and advisors of such Person and any Person that possesses, directly or indirectly, the power to direct or cause the direction of the management
or policies of such Person, whether through the ability to exercise voting power, by contract or otherwise.

 

“Release”
shall mean any release, spill, emission, discharge, disposal, escaping, leaking, pumping, pouring, dumping, emptying, injection, or leaching
into the environment.

 

“Relevant Rate”
means (i) with respect to any Term Benchmark Borrowing, the Term SOFR Rate or (ii) with respect to any RFR Borrowing, the Daily
Simple SOFR, as applicable.

 

“Removal Effective
Date” shall have the meaning provided in Section 12.9(b).

 

“Repayment Amount”
shall mean the Initial Term Loan Repayment Amount, a New Term Loan Repayment Amount with respect to any Series, or an Extended Term Loan
Repayment Amount with respect to any Extension Series, as applicable.

 

    	 	68	 

     

    

 

“Replacement Term
Loan Commitment” shall mean the commitments of the Lenders to make Replacement Term Loans.

 

“Replacement Term
Loans” shall have the meaning provided in Section 13.1.

 

“Reportable Event”
shall mean any “reportable event”, as defined in Section 4043(c) of ERISA or the regulations issued thereunder,
with respect to a Pension Plan (other than a Pension Plan maintained by an ERISA Affiliate that is considered an ERISA Affiliate only
pursuant to subsection (m) or (o) of Section 414 of the Code), other than those events as to which notice is waived pursuant
to PBGC Reg. § 4043 or any successor regulation thereto.

 

“Repricing Transaction”
shall mean (i) the incurrence by the Borrower of any Indebtedness in the form of a similar term B loan that is broadly marketed or
syndicated to banks and other institutional investors (a) having an Effective Yield for the respective Type of such Indebtedness
that is less than the Effective Yield for the Initial Term Loans of the respective equivalent Type, but excluding Indebtedness incurred
in connection with a Qualifying IPO, Change of Control or Transformative Acquisition or Transformative Disposition, and (b) the proceeds
of which are used to prepay (or, in the case of a conversion, deemed to prepay or replace), in whole or in part, outstanding principal
of Initial Term Loans or (ii) any effective reduction in the Effective Yield for the Initial Term Loans (e.g., by way of amendment,
waiver or otherwise), except for a reduction in connection with a Qualifying IPO, Change of Control or Transformative Acquisition or Transformative
Disposition. Any determination by the Administrative Agent with respect to whether a Repricing Transaction shall have occurred shall be
conclusive and binding on all Lenders holding the Initial Term Loans.

 

“Required Initial
Term Loan Lenders” shall mean, at any date, Non-Defaulting Lenders having or holding a majority of the aggregate outstanding
principal amount of the Initial Term Loans (excluding Initial Term Loans held by Defaulting Lenders) at such date.

 

“Required Lenders”
shall mean, at any date, (i) Non-Defaulting Lenders having or holding a majority of the sum of (a) the Adjusted Total Revolving
Credit Commitment (exclusive of Swingline Commitments) at such date, (b) the Adjusted Total Term Loan Commitment at such date, and
(c) the outstanding principal amount of the Term Loans (excluding Term Loans held by Defaulting Lenders) at such date or (ii) if
the Total Revolving Credit Commitment and the Total Term Loan Commitment have been terminated or for the purposes of acceleration pursuant
to Section 11, Non-Defaulting Lenders having or holding a majority of the outstanding principal amount of the Loans and Letter
of Credit Exposure (excluding the Loans and Letter of Credit Exposure of Defaulting Lenders) in the aggregate at such date.

 

“Required Revolving
Credit Lenders” shall mean, at any date, Non-Defaulting Lenders holding a majority of the Adjusted Total Revolving Credit Commitment
(exclusive of Swingline Commitments) at such date (or, if the Total Revolving Credit Commitment has been terminated at such time, a majority
of the Revolving Credit Exposure (excluding Revolving Credit Exposure of Defaulting Lenders) at such time).

 

“Required Term Loan
Lenders” shall mean, at any date, Non-Defaulting Lenders having or holding a majority of the sum of (i) the Adjusted Total
Term Loan Commitment at such date and (ii) the aggregate outstanding principal amount of the Term Loans (excluding Term Loans held
by Defaulting Lenders) at such date.

 

“Requirement of Law”
shall mean, as to any Person, the certificate of incorporation and by-laws or other organizational or governing documents of such Person,
and any law, treaty, rule, or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable
to or binding upon such Person or any of its property or assets or to which such Person or any of its property or assets is subject.

 

    	 	69	 

     

    

 

“Resignation Effective
Date” shall have the meaning provided in Section 12.9(a).

 

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

 

“Restricted Investment”
shall mean an Investment other than a Permitted Investment.

 

“Restricted Payments”
shall have the meaning provided in Section 10.5(a).

 

“Restricted Subsidiary”
shall mean any Subsidiary of Holdings other than an Unrestricted Subsidiary.

 

“Retained Asset Sale
Proceeds” shall have the meaning provided in Section 10.4(c)(i).

 

“Retained Declined
Proceeds” shall have the meaning provided in Section 5.2(f).

 

“Retired Capital
Stock” shall have the meaning provided in Section 10.5(b)(2).

 

“Revolving Credit
Commitment” shall mean, as to each Revolving Credit Lender, its obligation to make Revolving Credit Loans to the Borrower pursuant
to Section 2.1(b), in an aggregate principal amount at any one time outstanding not to exceed the amount set forth, and opposite
such Lender’s name on Schedule 1.1(b) under the caption Revolving Credit Commitment or in the Assignment and Acceptance
pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with
this Agreement (including Section 2.14). The aggregate Revolving Credit Commitments of all Revolving Credit Lenders shall
be $300,000,000 on the Sixth Amendment Effective Date (the “Initial Revolving Credit Commitments”), as such amount
may be adjusted from time to time in accordance with the terms of this Agreement.

 

“Revolving Credit
Commitment Percentage” shall mean at any time, for each Lender, the percentage obtained by dividing (i) such Lender’s
Revolving Credit Commitment at such time by (ii) the amount of the Total Revolving Credit Commitment at such time; provided
that at any time when the Total Revolving Credit Commitment shall have been terminated, each Lender’s Revolving Credit Commitment
Percentage shall be the percentage obtained by dividing (a) such Lender’s Revolving Credit Exposure at such time by (b) the
Revolving Credit Exposure of all Lenders at such time.

 

“Revolving Credit
Exposure” shall mean, with respect to any Lender at any time, the sum of (i) the aggregate principal amount of Revolving
Credit Loans of such Lender then outstanding, (ii) such Lender’s Letter of Credit Exposure at such time, and (iii) such
Lender’s Revolving Credit Commitment Percentage of the aggregate principal amount of all outstanding Swingline Loans at such time.

 

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

 

“Revolving Credit
Lender” shall mean, at any time, any Lender that has a Revolving Credit Commitment, Incremental Revolving Credit Commitment
or Extended Revolving Credit Commitment at such time.

 

“Revolving Credit
Loan” shall have the meaning provided in Section 2.1(b).

 

    	 	70	 

     

    

 

“Revolving Credit
Maturity Date” shall mean April [22], 2027, or, if such date is not a Business Day, the immediately preceding Business Day.

 

“Revolving Credit
Termination Date” shall mean the date on which the Total Revolving Credit Commitments shall have terminated, no Revolving Credit
Loans or Swingline Loans shall be outstanding and the Letters of Credit Outstanding shall have been reduced to zero or Cash Collateralized.

 

“Revolving Loan”
shall mean, collectively or individually as the context may require, any (i) Revolving Credit Loan, (ii) Extended Revolving
Credit Loan, (iii) New Revolving Credit Loan, and (iv) Additional Revolving Credit Loan, in each case made pursuant to and in
accordance with the terms and conditions of this Agreement.

 

“RFR Loan”
shall mean a Loan that bears interest at a rate based on the Daily Simple SOFR.

 

“S&P”
shall mean S&P Global Ratings or any successor by merger or consolidation to its business.

 

“Sale Leaseback”
shall mean any arrangement with any Person providing for the leasing by Holdings or any Restricted Subsidiary of any real or tangible
personal property, which property has been or is to be sold or transferred by Holdings or such Restricted Subsidiary to such Person in
contemplation of such leasing.

 

“Sanctions”
shall mean any relevant sanctions administered or enforced by the government of the United States (including without limitation, OFAC
and the U.S. Department of State), the United Nations Security Council, the European Union (or its member states), Her Majesty’s
Treasury (“HMT”) or other relevant sanctions authority.

 

“SEC” shall
mean the Securities and Exchange Commission or any successor thereto.

 

“Second Lien Intercreditor
Agreement” shall mean a First Lien/Second Lien Intercreditor Agreement substantially in the form of Exhibit I (with
such changes to such form as may be reasonably acceptable to the Administrative Agent and the Borrower) among the Administrative Agent,
the Collateral Agent and the representatives for purposes thereof for any Permitted Other Indebtedness Secured Parties that are holders
of Permitted Other Indebtedness Obligations having a Lien on the Collateral ranking junior to the Lien securing the Obligations.

 

“Section 2.14
Additional Amendment” shall have the meaning provided in Section 2.14(g)(iv).

 

“Section 9.1
Financials” shall mean the financial statements delivered, or required to be delivered, pursuant to Section 9.1(a) or
(b) together with the accompanying officer’s certificate delivered, or required to be delivered, pursuant to Section 9.1(d).

 

“Secured Cash Management
Agreement” shall mean any Cash Management Agreement that is entered into by and between Holdings or any of the Restricted Subsidiaries
and any Cash Management Bank.

 

    	 	71	 

     

    

 

“Secured Cash Management
Obligations” shall mean Obligations under Secured Cash Management Agreements.

 

“Secured Hedge Agreement”
shall mean any Hedge Agreement that is entered into by and between Holdings or any Restricted Subsidiary and any Hedge Bank.

 

“Secured Hedge Obligations”
shall mean Obligations under Secured Hedge Agreements.

 

“Secured Parties”
shall mean the Administrative Agent, the Collateral Agent, the Letter of Credit Issuer, and each Lender, in each case with respect to
the Credit Facilities, each Hedge Bank that is party to any Secured Hedge Agreement with Holdings or any Restricted Subsidiary, each Cash
Management Bank that is party to a Secured Cash Management Agreement with Holdings or any Restricted Subsidiary and each sub-agent pursuant
to Section 12 appointed by the Administrative Agent with respect to matters relating to the Credit Facilities or the Collateral
Agent with respect to matters relating to any Security Document.

 

“Securities Exchange
Act” shall mean Securities Exchange Act of 1934, as amended.

 

“Security Agreement”
shall mean the First Lien Security Agreement entered into as of the Closing Date by the Borrower, the other grantors party thereto, and
the Collateral Agent for the benefit of the Secured Parties, substantially in the form of Exhibit D.

 

“Security Documents”
shall mean, collectively, the Pledge Agreement, the Security Agreement, the Mortgages, if executed, the First Lien Intercreditor Agreement,
if executed, the Second Lien Intercreditor Agreement, if executed, and each other security agreement or other instrument or document executed
and delivered pursuant to Sections 9.11, 9.12, or 9.14 or pursuant to any other such Security Documents to secure
the Obligations or to govern the lien priorities of the holders of Liens on the Collateral.

 

“Series”
shall have the meaning provided in Section 2.14(a).

 

“Significant Subsidiary”
shall mean, at any date of determination, (a) any Restricted Subsidiary whose gross revenues (when combined with the gross revenues
of such Restricted Subsidiary’s Subsidiaries after eliminating intercompany obligations) for the Test Period most recently ended
on or prior to such date were equal to or greater than 10% of the consolidated gross revenues of Holdings and the Restricted Subsidiaries
for such period, determined in accordance with GAAP or (b) each other Restricted Subsidiary that, when such Restricted Subsidiary’s
total gross revenues (when combined with the total gross revenues of such Restricted Subsidiary’s Subsidiaries after eliminating
intercompany obligations) are aggregated with each other Restricted Subsidiary (when combined with the total gross revenues of such Restricted
Subsidiary’s Subsidiaries after eliminating intercompany obligations) that is the subject of an Event of Default described in Section 11.5
would constitute a “Significant Subsidiary” under clause (a) above.

 

“Similar Business”
shall mean any business conducted or proposed to be conducted by Holdings and the Restricted Subsidiaries on the Sixth Amendment Effective
Date or any business that is similar, reasonably related, synergistic, incidental, or ancillary thereto.

 

“Sixth Amendment”
shall mean that certain Amendment No. 6 to Credit Agreement, dated as of the Sixth Amendment Effective Date, to this Agreement.

 

“Sixth Amendment
Effective Date” shall mean April [22], 2022.

 

    	 	72	 

     

    

 

“SOFR”
shall mean a rate equal to the secured overnight financing rate as administered by the SOFR Administrator.

 

“SOFR Administrator”
shall mean the NYFRB (or a successor administrator of the secured overnight financing rate).

 

“SOFR Administrator’s
Website” shall mean the NYFRB’s website, currently at http://www.newyorkfed.org, or any successor source for the secured
overnight financing rate identified as such by the SOFR Administrator from time to time.

 

“SOFR Rate Day”
shall have the meaning specified in the definition of “Daily Simple SOFR”.

 

“Sold Entity or Business”
shall have the meaning provided in the definition of the term Consolidated EBITDA.

 

“Solvent”
shall mean, after giving effect to the consummation of the Transactions, (i) the sum of the liabilities (including contingent liabilities)
of the Borrower and its Restricted Subsidiaries, on a consolidated basis, does not exceed the present fair saleable value of the present
assets of the Borrower and its Restricted Subsidiaries, on a consolidated basis; (ii) the fair value of the property of the Borrower
and its Restricted Subsidiaries, on a consolidated basis, is greater than the total amount of liabilities (including contingent liabilities)
of the Borrower and its Restricted Subsidiaries, on a consolidated basis; (iii) the capital of the Borrower and its Restricted Subsidiaries,
on a consolidated basis, is not unreasonably small in relation to their business as contemplated on the date hereof; and (iv) the
Borrower and its Restricted Subsidiaries, on a consolidated basis, have not incurred and do not intend to incur, or believe that they
will incur, debts including current obligations beyond their ability to pay such debts as they become due (whether at maturity or otherwise).

 

“Specified Existing
Revolving Credit Commitment” shall have the meaning provided in Section 2.14(g)(ii).

 

“Specified Transaction”
shall mean, with respect to any period, any Investment (including a Permitted Acquisition), any asset sale, incurrence or repayment of
Indebtedness, Restricted Payment, Subsidiary designation, New Term Loan, Incremental Revolving Credit Commitment, or other event
that in each case by the terms of this Agreement requires Pro Forma Compliance with a test or covenant hereunder or requires such test
or covenant to be calculated on a Pro Forma Basis.

 

“Sponsor”
shall mean any of KKR and its Affiliates but excluding portfolio companies of any of the foregoing.

 

“Sponsor Management
Agreement” shall mean the management agreement between certain of the management companies associated with the Initial Investors
and Holdings dated as of December 18, 2013.

 

“Sponsor Model”
shall mean the Sponsor’s financial model dated December 6, 2013 used in connection with the syndication of the Facilities.

 

“Spot Rate”
for any currency shall mean the rate determined by using the rate of exchange for the purchase of dollars with such currency in the London
foreign exchange market at approximately 11:00 a.m. on the date two Business Days prior to the date as of which the foreign exchange
computation is made as displayed by ICE Data Services; provided that the Administrative Agent may obtain such spot rate from another
financial institution designated by the Administrative Agent if it does not have as of the date of determination a spot buying rate for
any such currency.

 

    	 	73	 

     

    

 

“SPV” shall
have the meaning provided in Section 13.6(g).

 

“Stated Amount”
of any Letter of Credit shall mean the maximum amount from time to time available to be drawn thereunder, determined without regard to
whether any conditions to drawing could then be met; provided, however, that with respect to any Letter of Credit that by
its terms or the terms of any Issuer Document provides for one or more automatic increases in the stated amount thereof, the Stated Amount
shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such
maximum stated amount is in effect at such time.

 

“Status”
shall mean the existence of (a) Level I Status or Level II Status, (b) Level I Revolving Status, Level II Revolving Status or
Level III Revolving Status and (c) Level I Term Status or Level II Term Status, as the case may be, on such date. Changes in Status
resulting from changes in the Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio shall become effective as of the first
day following each date that (i) Section 9.1 Financials for the first full fiscal quarter ended after the Sixth Amendment Effective
Date are delivered to the Administrative Agent under Section 9.1 and (ii) an officer’s certificate is delivered
by Holdings or the Borrower to the Administrative Agent setting forth, with respect to such Section 9.1 Financials, the then-applicable
Status, and shall remain in effect until the next change to be effected pursuant to this definition; provided that each determination
of the Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio pursuant to this definition shall be made as of the end of the
Test Period ending at the end of the fiscal period covered by the relevant Section 9.1 Financials.

 

“Stock Equivalents”
shall mean all securities convertible into or exchangeable for Capital Stock and all warrants, options, or other rights to purchase or
subscribe for any Capital Stock, whether or not presently convertible, exchangeable, or exercisable.

 

“Subordinated Indebtedness”
shall mean Indebtedness of Holdings, the Borrower, or any other Guarantor that is by its terms subordinated in right of payment to the
obligations of Holdings, the Borrower, or such Guarantor, as applicable, under this Agreement or the Guarantee, as applicable.

 

“Subsidiary”
of any Person shall mean and include (i) any corporation more than 50% of whose Capital 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
Capital Stock of 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, or (ii) any limited liability company, partnership,
association, joint venture, or other entity of which such Person directly or indirectly through Subsidiaries has more than a 50% equity
interest at the time. Unless otherwise expressly provided, all references herein to a Subsidiary shall mean a Subsidiary of Holdings.

 

“Supported QFC”
shall have the meaning provided in Section 13.24.

 

“Swap Obligation”
shall mean, with respect to any Credit Party, any obligation to pay or perform under any agreement, contract, or transaction that constitutes
a “swap” within the meaning of section 1(a)(47) of the Commodity Exchange Act.

 

“Swingline Commitment”
shall mean $30,000,000 Swingline Commitment is part of and not in addition to the Revolving Credit Commitment.

 

    	 	74	 

     

    

 

“Swingline Exposure”
shall mean at any time the aggregate principal amount at such time of all outstanding Swingline Loans. The Swingline Exposure of any Revolving
Credit Lender at any time shall equal its Revolving Credit Commitment Percentage of the aggregate Swingline Exposure at such time.

 

“Swingline Lender”
shall mean JPMorgan Chase Bank, N.A., in its capacity as lender of Swingline Loans hereunder or any replacement or successor thereto.

 

“Swingline Loans”
shall have the meaning provided in Section 2.1(c).

 

“Swingline Maturity
Date” shall mean, with respect to any Swingline Loan, the date that is five Business Days prior to the Revolving Credit Maturity
Date.

 

“Taxes”
shall mean any and all present or future direct or indirect taxes, duties, levies, imposts, assessments, deductions, withholdings (including
backup withholding), fees, or other similar charges imposed by any Governmental Authority and any interest, fines, penalties, or additions
to tax with respect to the foregoing.

 

“Term Benchmark”
when used in reference to any Loan or Borrowing, shall refer to whether such Loan, or the Loans comprising such Borrowing, are bearing
interest at a rate determined by reference to the Term SOFR Rate.

 

“Term Loan Commitment”
shall mean, with respect to each Lender, such Lender’s New Term Loan Commitment with respect to any Series and Replacement
Term Loan Commitment with respect to any Series.

 

“Term Loan Extension
Request” shall have the meaning provided in Section 2.14 (g)(i).

 

“Term Loan Lender”
shall mean, at any time, any Lender that has a Term Loan Commitment or an outstanding Term Loan.

 

“Term Loan Standstill
Period” shall have the meaning provided in Section 11.3(a).

 

“Term Loans”
shall mean the Initial Term Loans, any New Term Loans, any Replacement Term Loans, and any Extended Term Loans, collectively.

 

“Term SOFR Determination
Day” has the meaning assigned to it under the definition of Term SOFR Reference Rate.

 

“Term SOFR Rate”
shall mean, with respect to any Term Benchmark Borrowing and for any tenor comparable to the applicable Interest Period, the Term SOFR
Reference Rate at approximately 5:00 a.m., Chicago time, two U.S. Government Securities Business Days prior to the commencement of such
tenor comparable to the applicable Interest Period, as such rate is published by the CME Term SOFR Administrator; provided that
if the Term SOFR Rate as so determined would be less than the Floor, such rate shall be deemed to be equal to the Floor for the purposes
of this Agreement.

 

“Term SOFR Reference
Rate” shall mean, for any day and time (such day, the “Term SOFR Determination Day”), with respect to any
Term Benchmark Borrowing denominated in Dollars and for any tenor comparable to the applicable Interest Period, the rate per annum determined
by the Administrative Agent as the forward-looking term rate based on SOFR. If by 5:00 pm (New York City time) on such Term SOFR Determination
Day, the “Term SOFR Reference Rate” for the applicable tenor has not been published by the CME Term SOFR Administrator and
a Benchmark Replacement Date with respect to the Term SOFR Rate has not occurred, then the Term SOFR Reference Rate for such Term SOFR
Determination Day will be the Term SOFR Reference Rate as published in respect of the first preceding U.S. Government Securities Business
Day for which such Term SOFR Reference Rate was published by the CME Term SOFR Administrator, so long as such first preceding Business
Day is not more than five (5) Business Days prior to such Term SOFR Determination Day.

 

    	 	75	 

     

    

 

“Terminated Contracts”
shall mean binding contracts with customers that have terminated (whether on or before their stated expiration).

 

“Termination Date”
shall mean the date on which the Commitments have terminated and each Letter of Credit has terminated or been Cash Collateralized in accordance
with the terms of this Agreement and the Loans and Unpaid Drawings, together with interest, Fees and all other Obligations (other than
contingent indemnity obligations as to which no valid demand has been made, Secured Hedge Obligations, Secured Cash Management Obligations
and Letters of Credit Cash Collateralized in accordance with the terms of this Agreement), are paid in full.

 

“Test Period”
shall mean, for any determination under this Agreement, the four consecutive fiscal quarters of Holdings most recently ended on or prior
to such date of determination and for which Section 9.1 Financials shall have been delivered (or required to be delivered) to the
Administrative Agent (or, before the first delivery of Section 9.1 Financials, the most recent period of four fiscal quarters at
the end of which financial statements are available).

 

“Title Policy”
shall have the meaning provided in Section 9.14(c).

 

“Total Credit Exposure”
shall mean, at any date, the sum, without duplication, of (i) the Total Revolving Credit Commitment at such date (or, if the Total
Revolving Credit Commitment shall have terminated on such date, the aggregate Revolving Credit Exposure of all Lenders at such date),
(ii) the Total Term Loan Commitment at such date, and (iii) without duplication of clause (ii), the aggregate outstanding
principal amount of all Term Loans at such date.

 

“Total Revolving
Credit Commitment” shall mean the sum of the Revolving Credit Commitments of all the Lenders.

 

“Total Term Loan
Commitment” shall mean the sum of the New Term Loan Commitments, if applicable, of all the Lenders.

 

“Transaction Expenses”
shall mean any fees, costs, or expenses incurred or paid by Holdings, the Borrower, or any of their respective Affiliates in connection
with the Transactions, this Agreement, and the other Credit Documents, and the transactions contemplated hereby and thereby.

 

“Transactions”
shall mean, collectively, the transactions contemplated by this Agreement, the Sixth Amendment, and the consummation of any other transactions
in connection with the foregoing (including the payment of the fees and expenses incurred in connection with any of the foregoing (including
the Transaction Expenses)).

 

“Transferee”
shall have the meaning provided in Section 13.6(e).

 

    	 	76	 

     

    

 

 

“Transformative
Acquisition” shall mean any acquisition by the Borrower or any other Restricted Subsidiary that (i) is not permitted by
the terms of the Credit Documents immediately prior to the consummation of such acquisition or (ii) would result in an upsizing
of the Credit Facilities.

 

“Transformative
Disposition” shall mean any disposition by the Borrower or any Restricted Subsidiary that (a) is not permitted by the
terms of the Credit Documents immediately prior to the consummation of such disposition or (b) if permitted by the terms of the
Credit Documents immediately prior to the consummation of such disposition, would not provide the Borrower and the other restricted subsidiaries
with a durable capital structure, as determined by the Borrower acting in good faith.

 

“Type”
when used in reference to any Loan or Borrowing, shall referr to whether the rate of interest on such Loan, or on the Loans comprising
such Borrowing, is determined by reference to the Term SOFR Rate or the ABR.

 

“UCP”
shall mean, with respect to any Letter of Credit, the Uniform Customs and Practice for Documentary Credits, International Chamber
of Commerce (“ICC”) Publication No. 600 (or such later version thereof as may be in effect at the time of issuance).

 

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

 

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

 

“Unadjusted Benchmark
Replacement” shall mean the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.

 

“Unpaid Drawing”
shall have the meaning provided in Section 3.4(a).

 

“Unrestricted Subsidiary”
shall mean (i) any Subsidiary of Holdings which at the time of determination is an Unrestricted Subsidiary (as designated by the
board of directors of Holdings, as provided below) and (ii) any Subsidiary of an Unrestricted Subsidiary.

 

The board of directors of
Holdings may designate any Subsidiary of Holdings (including any existing Subsidiary and any newly acquired or newly formed Subsidiary)
other than the Borrower or a Subsidiary of Holdings that is a direct or indirect parent of the Borrower to be an Unrestricted Subsidiary
unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on, any property
of, Holdings or any Subsidiary of Holdings (other than any Subsidiary of the Subsidiary to be so designated or an Unrestricted Subsidiary);
provided that:

 

(a)            such
designation complies with Section 10.5; and

 

(b)            immediately
after giving effect to such designation, no Event of Default under Section 11.1 or 11.5 shall have occurred and be
continuing.

 

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The board of directors
of Holdings may designate any Unrestricted Subsidiary to be a Restricted Subsidiary; provided that, immediately after giving effect
to such designation no Event of Default under Section 11.1 or 11.5 shall have occurred and be continuing and either:
(i) Holdings could incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in
the first paragraph of Section 10.1 or (ii) the Fixed Charge Coverage Ratio for Holdings and the Restricted Subsidiaries
would be greater than such ratio for Holdings and the Restricted Subsidiaries immediately prior to such designation, in each case on
a pro forma basis taking into account such designation.

 

Any such designation by the
board of directors of Holdings shall be notified by Holdings to the Administrative Agent by promptly delivering to the Administrative
Agent a copy of the board resolution giving effect to such designation and a certificate of an Authorized Officer of Holdings certifying
that such designation complied with the foregoing provisions.

 

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

 

“U.S. Government
Securities Business Day” shall mean any day except for (i) a Saturday, (ii) a Sunday or (iii) a day on which
the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the
entire day for purposes of trading in United States government securities.

 

“U.S. Lender”
shall have the meaning provided in Section 5.4(e)(ii)(A).

 

“U.S. Special Resolution
Regime” shall have the meaning provided in Section 13.24.

 

“Voting Stock”
shall mean, with respect to any Person as of any date, the Capital Stock of such Person that is at the time entitled to vote in the election
of the board of directors of such Person.

 

“Wholly-Owned Restricted
Subsidiary” of any Person shall mean a Restricted Subsidiary of such Person, 100% of the outstanding Capital Stock or other
ownership interests of which (other than directors’ qualifying shares) shall at the time be owned by such Person or by one or more
Wholly-Owned Subsidiaries of such Person.

 

“Wholly-Owned Subsidiary”
of any Person shall mean a Subsidiary of such Person, 100% of the outstanding Capital Stock or other ownership interests of which (other
than directors’ qualifying shares) shall at the time be owned by such Person or by one or more Wholly-Owned Subsidiaries of such
Person.

 

“Withdrawal Liability”
shall mean liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms
are defined in Title IV of ERISA.

 

“Withholding Agent”
shall mean any Credit Party, the Administrative Agent and, in the case of any U.S. federal withholding Tax, any other applicable withholding
agent.

 

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

 

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1.2            Other
Interpretive Provisions. With reference to this Agreement and each other Credit Document, unless otherwise specified herein or in
such other Credit Document:

 

(a)            The
meanings of defined terms are equally applicable to the singular and plural forms of the defined terms.

 

(b)            The
words “herein”, “hereto”, “hereof”, and “hereunder” and words of similar import when
used in any Credit Document shall refer to such Credit Document as a whole and not to any particular provision thereof.

 

(c)            Section,
Exhibit, and Schedule references are to the Credit Document in which such reference appears.

 

(d)            The
term “including” is by way of example and not limitation.

 

(e)            The
term “documents” includes any and all instruments, documents, agreements, certificates, notices, reports, financial statements
and other writings, however evidenced, whether in physical or electronic form.

 

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

 

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

 

(h)            The
words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all
tangible and intangible assets and properties, including cash, securities, accounts and contract rights.

 

(i)            All
references to “knowledge” or “awareness” of any Credit Party or any Restricted Subsidiary thereof means the actual
knowledge of an Authorized Officer of such Credit Party or such Restricted Subsidiary.

 

1.3            Accounting
Terms.

 

(a)            Except
as expressly provided herein, all accounting terms not specifically or completely defined herein shall be construed in conformity with,
and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement
shall be prepared in conformity with, GAAP, applied in a consistent manner.

 

(b)            Notwithstanding
anything to the contrary herein, for purposes of determining compliance with any test or covenant contained in this Agreement with respect
to any period during which any Specified Transaction occurs, the Fixed Charge Coverage Ratio, Consolidated Total Debt to Consolidated
EBITDA Ratio, the Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio, and the First Lien Secured Leverage Test shall each
be calculated with respect to such period and such Specified Transaction on a Pro Forma Basis.

 

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(c)            Where
reference is made to “Holdings and the Restricted Subsidiaries on a consolidated basis” or similar language, such consolidation
shall not include any Subsidiaries of Holdings other than Restricted Subsidiaries.

 

1.4            Rounding.
Any financial ratios required to be maintained by Holdings pursuant to this Agreement (or required to be satisfied in order for a specific
action to be permitted under this Agreement) shall be calculated by dividing the appropriate component by the other component, carrying
the result to one place more than the number of places by which such ratio is expressed herein and rounding the result up or down to
the nearest number.

 

1.5            References
to Agreements Laws, Etc. Unless otherwise expressly provided herein, (a) references to organizational documents, agreements
(including the Credit Documents), and other Contractual Requirements shall be deemed to include all subsequent amendments, restatements,
amendment, and restatements, extensions, supplements, modifications, replacements, refinancings, renewals, or increases, but only to
the extent that such amendments, restatements, amendment, and restatements, extensions, supplements, modifications, replacements, refinancings,
renewals, or increases are permitted by any Credit Document; and (b) references to any Requirement of Law shall include all statutory
and regulatory provisions consolidating, amending, replacing, supplementing, or interpreting such Requirement of Law.

 

1.6            Exchange
Rates. Notwithstanding the foregoing, for purposes of any determination under Section 9, Section 10 or Section 11
or any determination under any other provision of this Agreement expressly requiring the use of a current exchange rate, all amounts
incurred, outstanding, or proposed to be incurred or outstanding in currencies other than Dollars shall be translated into Dollars at
the Spot Rate; provided, however, that for purposes of determining compliance with Section 10 with respect
to the amount of any Indebtedness, Restricted Investment, Lien, Asset Sale, or Restricted Payment in a currency other than Dollars, no
Default or Event of Default shall be deemed to have occurred solely as a result of changes in rates of exchange occurring after the time
such Indebtedness, Lien or Restricted Investment is incurred or Asset Sale or Restricted Payment made; provided that, for the
avoidance of doubt, the foregoing provisions of this Section 1.6 shall otherwise apply to such Sections, including with respect
to determining whether any Indebtedness, Lien, or Investment may be incurred or Asset Sale or Restricted Payment made at any time under
such Sections. For purposes of any determination of Consolidated Total Debt or Consolidated First Lien Secured Debt, amounts in currencies
other than Dollars shall be translated into Dollars at the currency exchange rates used in preparing the most recently delivered Section 9.1
Financials.

 

1.7            Rates.
The interest rate on a Loan denominated in dollars may be derived from an interest rate benchmark that may be discontinued or is, or
may in the future become, the subject of regulatory reform. Upon the occurrence of a Benchmark Transition Event, Section 2.14(b) provides
a mechanism for determining an alternative rate of interest. The Administrative Agent does not warrant or accept any responsibility for,
and shall not have any liability with respect to, the administration, submission, performance or any other matter related to any interest
rate used in this Agreement, or with respect to any alternative or successor rate thereto, or replacement rate thereof, including without
limitation, whether the composition or characteristics of any such alternative, successor or replacement reference rate will be similar
to, or produce the same value or economic equivalence of, the existing interest rate being replaced or have the same volume or liquidity
as did any existing interest rate prior to its discontinuance or unavailability. The Administrative Agent and its affiliates and/or other
related entities may engage in transactions that affect the calculation of any interest rate used in this Agreement or any alternative,
successor or alternative rate (including any Benchmark Replacement) and/or any relevant adjustments thereto, in each case, in a manner
adverse to the Borrower. The Administrative Agent may select information sources or services in its reasonable discretion to ascertain
any interest rate used in this Agreement, any component thereof, or rates referenced in the definition thereof, in each case pursuant
to the terms of this Agreement, and shall have no liability to the Borrower, any Lender or any other person or entity for damages of
any kind, including direct or indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in
tort, contract or otherwise and whether at law or in equity), for any error or calculation of any such rate (or component thereof) provided
by any such information source or service.

 

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

 

1.9            Timing
of Payment or Performance. Except as otherwise provided herein, when the payment of any obligation or the performance of any covenant,
duty, or obligation is stated to be due or performance required on (or before) a day which is not a Business Day, the date of such payment
(other than as described in the definition of Interest Period) or performance shall extend to the immediately succeeding Business Day,
and such extension of time shall be reflected in computing interest or fees, as the case may be.

 

1.10            Certifications.
All certifications to be made hereunder by an officer or representative of a Credit Party shall be made by such a Person in his or her
capacity solely as an officer or a representative of such Credit Party, on such Credit Party’s behalf and not in such Person’s
individual capacity.

 

1.11            Compliance
with Certain Sections. In the event that any Lien, Investment, Indebtedness (whether at the time of incurrence or upon
application of all or a portion of the proceeds thereof), disposition, Restricted Payment, Affiliate transaction, Contractual Requirement,
or prepayment of Indebtedness meets the criteria of one or more than one of the categories of transactions then permitted pursuant to
any clause or subsection of Section 9.9 or subsections of Section 10, such transaction (or portion thereof) at
any time shall be permitted under one or more of such clauses as determined by the Borrower in its sole discretion at such time.

 

1.12            Pro
Forma and Other Calculations.

 

(a)            For
purposes of calculating the Fixed Charge Coverage Ratio, Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio, Consolidated
Total Debt to Consolidated EBITDA Ratio, Investments, acquisitions, dispositions, mergers, consolidations, and disposed operations
(as determined in accordance with GAAP) that have been made by Holdings or any Restricted Subsidiary during the Test Period or subsequent
to such Test Period and on or prior to or simultaneously with the date of determination shall be calculated on a Pro Forma Basis assuming
that all such Investments, acquisitions, dispositions, mergers, consolidations, and disposed operations (and the change in any associated
fixed charge obligations and the change in Consolidated EBITDA resulting therefrom) had occurred on the first day of the Test Period.
If since the beginning of such period any Person (that subsequently became a Restricted Subsidiary or was merged with or into Holdings
or any Restricted Subsidiary since the beginning of such period) shall have made any Investment, acquisition, disposition, merger, consolidation,
or disposed operation that would have required adjustment pursuant to this definition, then the Fixed Charge Coverage Ratio, Consolidated
First Lien Secured Debt to Consolidated EBITDA Ratio and Consolidated Total Debt to Consolidated EBITDA Ratio shall be calculated giving
Pro Forma Effect thereto for such Test Period as if such Investment, acquisition, disposition, merger, consolidation, or disposed operation
had occurred at the beginning of the Test Period. Notwithstanding anything to the contrary herein, with respect to any amounts incurred
or transactions entered into (or consummated) in reliance on a provision of this Agreement that does not require compliance with a financial
ratio or test (including, without limitation, the Fixed Charge Coverage Ratio, the Consolidated First Lien Secured Debt to Consolidated
EBITDA Ratio and Consolidated Total Debt to Consolidated EBITDA Ratio) (any such amounts, the “Fixed Amounts”) substantially
concurrently with any amounts incurred or transactions entered into (or consummated) in reliance on a provision of this Agreement that
requires compliance with any such financial ratio or test (any such amounts, the “Incurrence Based Amounts”), it is
understood and agreed that the Fixed Amounts (and any cash proceeds thereof) shall be disregarded in the calculation of the financial
ratio or test applicable to the Incurrence Based Amounts in connection with such substantially concurrent incurrence, except that incurrences
of Indebtedness and Liens constituting Fixed Amounts shall be taken into account for purposes of Incurrence Based Amounts other than
Incurrence Based Amounts contained in Section 10.1 or Section 10.2.

 

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(b)            For
purposes of this definition, whenever Pro Forma Effect is to be given to a transaction, the pro forma calculations shall be made in good
faith by a responsible financial or accounting officer of the Borrower (and may include, for the avoidance of doubt and without duplication,
cost savings, operating expense enhancements and operating expense reductions resulting from such Investment, acquisition, merger, or
consolidation which is being given Pro Forma Effect that have been or are expected to be realized; provided that such costs savings,
operating expense enhancements and operating expense reductions are made in compliance with the definition of Pro Forma Adjustment).
If any Indebtedness bears a floating rate of interest and is being given Pro Forma Effect, the interest on such Indebtedness shall be
calculated as if the rate in effect on the date of determination had been the applicable rate for the entire period (taking into account
any Hedging Obligations applicable to such Indebtedness). If any Indebtedness bears a floating rate of interest and is being given Pro
Forma Effect, the interest on such Indebtedness shall be calculated as if the rate in effect on the date of determination had been the
applicable rate for the entire period (taking into account for such entire period, any Hedging Obligation applicable to such Indebtedness
with a remaining term of 12 months or longer, and in the case of any Hedging Obligation applicable to such Indebtedness with a remaining
term of less than 12 months, taking into account such Hedging Obligation to the extent of its remaining term). Interest on a Capitalized
Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial or accounting officer
of Holdings to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. For purposes of making
the computation referred to above, interest on any Indebtedness under a revolving credit facility computed on a Pro Forma Basis shall
be computed based upon the average daily balance of such Indebtedness during the applicable period (or, if lower, the greater of (i) maximum
commitments under such revolving credit facilities as of the date of determination and (ii) the aggregate principal amount of loans
outstanding under such a revolving credit facilities on such date). Interest on Indebtedness that may optionally be determined at an
interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank offered rate, or other rate, shall be deemed to
have been based upon the rate actually chosen, or, if none, then based upon such optional rate chosen as the Borrower may designate.
For the avoidance of doubt, in connection with the incurrence of any Indebtedness under Section 2.14, the definitions of
Required Lenders, Required Revolving Credit Lenders and Required Term Loan Lenders shall be calculated on a Pro Forma Basis in accordance
with this Section 1.12, Section 2.14 and the definition of Maximum Incremental Facilities Amount; provided
that any waiver, amendment or modification of the terms of this Agreement obtained as a result of such incurrence (i) will become
operative only upon the incurrence of such Indebtedness, (ii) is not required in order to amend, modify or avoid a covenant default
and (iii) does not affect the rights or duties under this Agreement of Lenders holding Loans or Commitments outstanding prior to
the incurrence of such Indebtedness of any then outstanding Class exclusive of the Lenders in respect of such Indebtedness to be
incurred in that Class.

 

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(c)            In
connection with any action being taken solely in connection with a Limited Condition Transaction, for purposes of:

 

(i)            determining
compliance with any provision of the Credit Documents which requires the calculation of the Consolidated First Lien Secured Debt to Consolidated
EBITDA Ratio, Consolidated Senior Secured Debt to Consolidated EBITDA, Consolidated Total Debt to Consolidated EBITDA Ratio or the Fixed
Charge Coverage Ratio;

 

(ii)            determining
the accuracy of representations and warranties in Section 8 and/or whether a Default or Event of Default shall have occurred and
be continuing under Section 11; or

 

(iii)            testing
availability under baskets set forth in the Credit Documents (including baskets measured as a percentage of Consolidated EBITDA or Consolidated
Total Assets);

 

in each case, at the option of the Borrower (the
Borrower’s election to exercise such option in connection with any Limited Condition Transaction, an “LCT Election”),
the date of determination of whether any such action is permitted hereunder, shall be deemed to be the date the definitive agreements
for such Limited Condition Transaction are entered into (the “LCT Test Date”), and if, after giving Pro Forma Effect
to the Limited Condition Transaction and the other transactions to be entered into in connection therewith (including any incurrence
of Indebtedness and the use of proceeds thereof) as if they had occurred at the beginning of the most recent Test Period ending prior
to the LCT Test Date, the Borrower could have taken such action on the relevant LCT Test Date in compliance with such ratio or basket,
such ratio or basket shall be deemed to have been complied with. For the avoidance of doubt, if the Borrower has made an LCT Election
and any of the ratios or baskets for which compliance was determined or tested as of the LCT Test Date are exceeded as a result of fluctuations
in any such ratio or basket, including due to fluctuations in Consolidated EBITDA of the Borrower or the Person subject to such Limited
Condition Transaction, at or prior to the consummation of the relevant transaction or action, such baskets or ratios will not be deemed
to have been exceeded as a result of such fluctuations. If the Borrower has made an LCT Election for any Limited Condition Transaction,
then in connection with any subsequent calculation of any ratio or basket availability with respect to the incurrence of Indebtedness
or Liens, or the making of Restricted Payments, mergers, the conveyance, lease or other transfer of all or substantially all of the assets
of the Borrower, the prepayment, redemption, purchase, defeasance or other satisfaction of Indebtedness, or the designation of an Unrestricted
Subsidiary on or following the relevant LCT Test Date and prior to the earlier of (i) the date on which such Limited Condition Transaction
is consummated or (ii) the date that the definitive agreement for such Limited Condition Transaction is terminated or expires without
consummation of such Limited Condition Transaction, any such ratio or basket shall be calculated on a Pro Forma Basis assuming such Limited
Condition Transaction and other transactions in connection therewith (including any incurrence of Indebtedness and the use of proceeds
thereof) have been consummated until after such time as the Limited Condition Transaction has actually closed or the definitive agreement
with respect thereto has been terminated or expires.

 

(d)            Notwithstanding
anything to the contrary in this Section 1.12 or in any classification under GAAP of any Person, business, assets or operations
in respect of which a definitive agreement for the disposition thereof has been entered into as discontinued operations, no Pro Forma
Effect shall be given to any discontinued operations (and the Consolidated EBITDA attributable to any such Person, business, assets or
operations shall not be excluded for any purposes hereunder) until such disposition shall have been consummated.

 

(e)            Any
determination of Consolidated Total Assets shall be made by reference to the last day of the Test Period most recently ended on or prior
to the relevant date of determination.

 

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(f)            Except
as otherwise specifically provided herein, all computations of Excess Cash Flow, Consolidated Total Assets, Available Amount, Consolidated
First Lien Secured Debt to Consolidated EBITDA Ratio, Consolidated Senior Secured Debt to Consolidated EBITDA Ratio, Consolidated Total
Debt to Consolidated EBITDA Ratio, the Fixed Charge Coverage Ratio and other financial ratios and financial calculations (and all definitions
(including accounting terms) used in determining any of the foregoing) and all computations and all definitions (including accounting
terms) used in determining compliance with Section 10.7 shall be calculated, in each case, with respect to Holdings and the Restricted
Subsidiaries on a consolidated basis.

 

1.13            Divisions.
For all purposes under the Credit Documents, in connection with any division or plan of division under Delaware law (or any comparable
event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset,
right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the
subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized and acquired
on the first date of its existence by the holders of its Equity Interests at such time.

 

Section 2.Amount
and Terms of Credit

 

2.1            Commitments.

 

(a)            Subject
to and upon the terms and conditions herein set forth, each Lender having an Initial Term Loan severally agrees to make the Initial Term
Loans as set forth in the Sixth Amendment and to consent to the terms thereof and hereof, which Initial Term Loans shall not exceed for
any such Lender the Initial Term Loan Commitment of such Lender. Such Term Loans (i) may at the option of the Borrower be incurred
and maintained as, and/or converted into, ABR Loans or Term Benchmark Loans; provided that all Term Loans made by each of the
Lenders pursuant to the same Borrowing shall, unless otherwise specifically provided herein, consist entirely of Term Loans of the same
Type, (ii) may be repaid or prepaid (without premium or penalty other than as set forth in Section 5.1(b)) in accordance
with the provisions hereof, but once repaid or prepaid, may not be reborrowed, and (iii) shall not exceed for any such Lender the
Initial Term Loans of such Lender immediately prior to the Sixth Amendment Effective Date (other than any Lender that elects to acquire
additional Initial Term Loans pursuant to the Sixth Amendment). On the Initial Term Loan Maturity Date, all then unpaid Initial Term
Loans shall be repaid in full in Dollars.

 

(b)            Subject
to and upon the terms and conditions herein set forth each Revolving Credit Lender severally agrees to make Revolving Credit Loans denominated
in Dollars to the Borrower from its applicable lending office (each such loan, a “Revolving Credit Loan”) in an aggregate
principal amount not to exceed at any time outstanding the amount of such Revolving Credit Lender’s Revolving Credit Commitment,
provided that any of the foregoing such Revolving Credit Loans (A) shall be made at any time and from time to time on and
after the Closing Date and prior to the Revolving Credit Maturity Date, (B) may, at the option of the Borrower be incurred and maintained
as, and/or converted into, ABR Loans (solely in the case of Revolving Credit Loans denominated in Dollars) or Term Benchmark Loans that
are Revolving Credit Loans; provided that all Revolving Credit Loans made by each of the Lenders pursuant to the same Borrowing
shall, unless otherwise specifically provided herein, consist entirely of Revolving Credit Loans of the same Type, (C) may be repaid
(without premium or penalty) and reborrowed in accordance with the provisions hereof, (D) shall not, for any Lender at any time,
after giving effect thereto and to the application of the proceeds thereof, result in such Revolving Credit Lender’s Revolving
Credit Exposure in respect of any Class of Revolving Loans at such time exceeding such Revolving Credit Lender’s Revolving
Credit Commitment in respect of such Class of Revolving Loan at such time and (E) shall not, after giving effect thereto and
to the application of the proceeds thereof, result at any time in the aggregate amount of the Revolving Credit Lenders’ Revolving
Credit Exposures at such time exceeding the Total Revolving Credit Commitment then in effect or the aggregate amount of the Revolving
Credit Lenders’ Revolving Credit Exposures of any Class of Revolving Loans at such time exceeding the aggregate Revolving
Credit Commitment with respect to such Class.

 

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(c)            Subject
to and upon the terms and conditions set forth herein, the Swingline Lender in its individual capacity agrees, at any time and from time
to time on and after the Closing Date and prior to the Swingline Maturity Date, to make a loan or loans (each a “Swingline Loan”
and, collectively the “Swingline Loans”) to the Borrower, which Swingline Loans (i) shall be ABR Loans, (ii) shall
have the benefit of the provisions of Section 2.1(d), (iii) shall not exceed at any time outstanding the Swingline Commitment,
(iv) shall not, after giving effect thereto and to the application of the proceeds thereof, result at any time in the aggregate
amount of the Revolving Credit Lenders’ Revolving Credit Exposures at such time exceeding the Revolving Credit Commitment then
in effect, and (v) may be repaid and reborrowed in accordance with the provisions hereof. On the Swingline Maturity Date, all Swingline
Loans shall be repaid in full. The Swingline Lender shall not make any Swingline Loan after receiving a written notice from Holdings,
the Borrower, the Administrative Agent or the Required Revolving Credit Lenders stating that a Default or Event of Default exists and
is continuing until such time as the Swingline Lender shall have received written notice of (i) rescission of all such notices from
the party or parties originally delivering such notice or (ii) the waiver of such Default or Event of Default in accordance with
the provisions of Section 13.1.

 

(d)            On
any Business Day, the Swingline Lender may, in its sole discretion, give notice to each Revolving Credit Lender that all then-outstanding
Swingline Loans shall be funded with a Borrowing of Revolving Credit Loans, in which case (i) Revolving Credit Loans constituting
ABR Loans shall be made on the immediately succeeding Business Day (each such Borrowing, a “Mandatory Borrowing”)
by each Revolving Credit Lender pro rata based on each Revolving Credit Lender’s Revolving Credit Commitment Percentage, and the
proceeds thereof shall be applied directly to the Swingline Lender to repay the Swingline Lender for such outstanding Swingline Loans.
Each Revolving Credit Lender hereby irrevocably agrees to make such Revolving Credit Loans upon one Business Day’s notice pursuant
to each Mandatory Borrowing in the amount and in the manner specified in the preceding sentence and on the date specified to it in writing
by the Swingline Lender notwithstanding (i) that the amount of the Mandatory Borrowing may not comply with the minimum amount for
each Borrowing specified in Section 2.2, (ii) whether any conditions specified in Section 7 are then satisfied,
(iii) whether a Default or an Event of Default has occurred and is continuing, (iv) the date of such Mandatory Borrowing, or
(v) any reduction in the Total Revolving Credit Commitment after any such Swingline Loans were made. In the event that, in the sole
judgment of the Swingline Lender, any Mandatory Borrowing cannot for any reason be made on the date otherwise required above (including
as a result of the commencement of a proceeding under the Bankruptcy Code in respect of the Borrower), each Revolving Credit Lender hereby
agrees that it shall forthwith purchase from the Swingline Lender (without recourse or warranty) such participation of the outstanding
Swingline Loans as shall be necessary to cause the Lenders to share in such Swingline Loans ratably based upon their respective Revolving
Credit Commitment Percentages; provided that all principal and interest payable on such Swingline Loans shall be for the account
of the Swingline Lender until the date the respective participation is purchased and, to the extent attributable to the purchased participation,
shall be payable to such Lender purchasing same from and after such date of purchase.

 

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(e)            If
the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”)
at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring
Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding
Swingline Loan, if consented to by the Swingline Lender (such consent not to be unreasonably withheld, conditioned or delayed), on the
earliest occurring maturity date such Swingline Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit
Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate
credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount
of Swingline Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing,
if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swingline Loans allocated
to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if
the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of
Revolving Credit Commitments, the sublimit for Swingline Loans may be reduced as agreed between the Swingline Lender and the Borrower,
without the consent of any other Person.

 

2.2            Minimum
Amount of Each Borrowing; Maximum Number of Borrowings. The aggregate principal amount of each Borrowing of Term Loans or Revolving
Credit Loans shall be in a minimum amount of at least the Minimum Borrowing Amount for such Type of Loans and in a multiple of $100,000
in excess thereof and Swingline Loans shall be in a minimum amount of $500,000 and in a multiple of $100,000 in excess thereof (except
that Mandatory Borrowings shall be made in the amounts required by Section 2.1(d) and Revolving Credit Loans to reimburse
the Letter of Credit Issuer with respect to any Unpaid Drawing shall be made in the amounts required by Section 3.3 or Section 3.4,
as applicable). More than one Borrowing may be incurred on any date; provided that at no time shall there be outstanding more
than five Borrowings of Term Benchmark Loans that are Term Loans and fifteen Borrowings of Term Benchmark Loans that are Revolving Credit
Loans under this Agreement.

 

2.3            Notice
of Borrowing.

 

(a)            [Reserved].

 

(b)            Whenever
the Borrower desires to incur Revolving Credit Loans (other than Mandatory Borrowings or borrowings to repay Unpaid Drawings), the Borrower
shall give the Administrative Agent at the Administrative Agent’s Office (such notice, a “Notice of Borrowing”),
(i) prior to 12:00 noon (New York City Time) at least three Business Days’ prior written notice of each Borrowing of Term
Benchmark Loans that are Revolving Credit Loans and (ii) prior to 10:00 a.m. (New York City time) on the day of such Borrowing
prior written notice of each Borrowing of Revolving Credit Loans that are ABR Loans. Each such Notice of Borrowing, except as otherwise
expressly provided in Section 2.10, shall specify (x) the aggregate principal amount of the Revolving Credit Loans to
be made pursuant to such Borrowing, (y) the date of Borrowing (which shall be a Business Day) and (z) whether the respective
Borrowing shall consist of ABR Loans or Term Benchmark Loans that are Revolving Credit Loans and, if Term Benchmark Loans that are Revolving
Credit Loans, the Interest Period to be initially applicable thereto. The Administrative Agent shall promptly give each Revolving Credit
Lender written notice of each proposed Borrowing of Revolving Credit Loans, of such Lender’s Revolving Credit Commitment Percentage
thereof, of the identity of the Borrower, and of the other matters covered by the related Notice of Borrowing.

 

(c)            Whenever
the Borrower desires to incur Swingline Loans hereunder, the Borrower shall give the Swingline Lender written notice with a copy to the
Administrative Agent of each Borrowing of Swingline Loans prior to 2:00 p.m. (New York City time) on the date of such Borrowing.
Each such notice shall specify (x) the aggregate principal amount of the Swingline Loans to be made pursuant to such Borrowing and
(y) the date of Borrowing (which shall be a Business Day). Each Swingline Loan shall be an ABR Borrowing.

 

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(d)            Mandatory
Borrowings shall be made upon the notice specified in Section 2.1(d), with the Borrower irrevocably agreeing, by its incurrence
of any Swingline Loan, to the making of Mandatory Borrowings as set forth in such Section.

 

(e)            Borrowings
to reimburse Unpaid Drawings shall be made upon the notice specified in Section 3.4(a).

 

(f)            Without
in any way limiting the obligation of the Borrower to confirm in writing any notice it shall give hereunder by telephone (which such
obligation is absolute), the Administrative Agent may act prior to receipt of written confirmation without liability upon the basis of
such telephonic notice believed by the Administrative Agent in good faith to be from an Authorized Officer of Holdings or the Borrower.

 

2.4            Disbursement
of Funds

 

(a)            No
later than 2:00 p.m. (New York City time) on the date specified in each Notice of Borrowing (including Mandatory Borrowings), each
Lender shall make available its pro rata portion, if any, of each Borrowing requested to be made on such date in the manner provided
below; provided, that all Swingline Loans shall be made available to the Borrower in the full amount thereof by the Swingline
Lender no later than 4:00 p.m. (New York City time).

 

(b)            Each
Lender shall make available all amounts it is to fund to the Borrower under any Borrowing for its applicable Commitments, and in immediately
available funds, to the Administrative Agent at the Administrative Agent’s Office and the Administrative Agent will (except in
the case of Mandatory Borrowings and Borrowings to repay Unpaid Drawings) make available to the Borrower, by depositing to an account
designated by Holdings or the Borrower to the Administrative Agent the aggregate of the amounts so made available in Dollars. Unless
the Administrative Agent shall have been notified by any Lender prior to the date of any such Borrowing that such Lender does not intend
to make available to the Administrative Agent its portion of the Borrowing or Borrowings to be made on such date, the Administrative
Agent may assume that such Lender has made such amount available to the Administrative Agent on such date of Borrowing, and the Administrative
Agent, in reliance upon such assumption, may (in its sole discretion and without any obligation to do so) make available to the Borrower
a corresponding amount. If such corresponding amount is not in fact made available to the Administrative Agent by such Lender and the
Administrative Agent has made available such amount to the Borrower, the Administrative Agent shall be entitled to recover such corresponding
amount from such Lender. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent’s demand
therefor the Administrative Agent shall promptly notify the Borrower and the Borrower shall immediately pay such corresponding amount
to the Administrative Agent in Dollars. The Administrative Agent shall also be entitled to recover from such Lender or the Borrower interest
on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Administrative
Agent to the Borrower to the date such corresponding amount is recovered by the Administrative Agent, at a rate per annum equal to (i) if
paid by such Lender, the Overnight Bank Funding Rate or (ii) if paid by the Borrower, the then-applicable rate of interest or fees,
calculated in accordance with Section 2.8, for the respective Loans.

 

(c)            Nothing
in this Section 2.4 shall be deemed to relieve any Lender from its obligation to, fulfill its commitments hereunder or to
prejudice any rights that the Borrower may have against any Lender as a result of any default by such Lender hereunder (it being understood,
however, that no Lender shall be responsible for the failure of any other Lender to fulfill its commitments hereunder).

 

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2.5            Repayment
of Loans; Evidence of Debt

 

(a)            The
Borrower shall repay to the Administrative Agent, for the benefit of the applicable Lenders, on the Initial Term Loan Maturity Date,
the then-outstanding Initial Term Loans. The Borrower shall repay to the Administrative Agent for the benefit of the Revolving Credit
Lenders, on the Revolving Credit Maturity Date, the then outstanding Revolving Credit Loans. The Borrower shall repay to the Administrative
Agent for the benefit of the Revolving Credit Lenders, on each Extended Revolving Loan Maturity Date, the then outstanding amount of
Extended Revolving Credit Loans. The Borrower shall repay to the Swingline Lender, on the Swingline Maturity Date, the then outstanding
Swingline Loans. The Borrower shall repay to the Administrative Agent for the benefit of the Incremental Revolving Loan Lenders, on each
Incremental Revolving Credit Maturity Date, the then outstanding amount of Incremental Revolving Credit Loans.

 

(b)            The
Borrower shall repay to the Administrative Agent, in Dollars, for the benefit of the Initial Term Loan Lenders, on each date set forth
below (or, if not a Business Day, the immediately preceding Business Day) (each, an “Initial Term Loan Repayment Date”),
a principal amount in respect of each of the Initial Term Loans made to the Borrower equal to (x) the outstanding principal amount
of Initial Term Loans made to the Borrower on the Closing Date plus the amount of Initial Term Loans made to the Borrower after the Closing
Date multiplied by (y) the percentage set forth below opposite such Initial Term Loan Repayment Date (each, an “Initial
Term Loan Repayment Amount”):

 

	Date	Initial
    Term Loan
	September 30,
    2022	0.25%
	December 31,
    2022	0.25%
	March 31,
    2023	0.25%
	June 30,
    2023	0.25%
	September 30,
    2023	0.25%
	December 31,
    2023	0.25%
	March 31,
    2024	0.25%
	June 30,
    2024	0.25%
	September 30,
    2024	0.25%
	December 31,
    2024	0.25%
	March 31,
    2025	0.25%
	June 30,
    2025	0.25%
	September 30,
    2025	0.25%
	December 31,
    2025	0.25%
	March 31,
    2026	0.25%
	June 30,
    2026	0.25%
	September 30,
    2026	0.25%
	December 31,
    2026	0.25%
	March 31,
    2027	0.25%
	June 30,
    2027	0.25%
	September 30,
    2027	0.25%
	December 31,
    2027	0.25%
	March 31,
    2028	0.25%
	June 30,
    2028	0.25%
	September 30,
    2028	0.25%
	December 31,
    2028	0.25%
	Initial
    Term Loan Maturity Date	Remaining
    outstanding amounts

 

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(c)            In
the event that any New Term Loans are made, such New Term Loans shall, subject to Section 2.14(d), be repaid by the Borrower
in the amounts (each, a “New Term Loan Repayment Amount”) and on the dates (each a “New Term Loan Repayment
Date”) set forth in the applicable Joinder Agreement and subject to any adjustment to ensure fungibility with the other Term
Loans. In the event that any Incremental Revolving Credit Loans are made, such Incremental Revolving Credit Loans shall, subject to Section 2.14(d),
be repaid by the Borrower in the amounts (each, a “New Revolving Loan Repayment Amount”) and on the dates (each a
 “New Revolving Loan Repayment Date”) set forth in the applicable Joinder Agreement. In the event that any Extended
Term Loans are established, such Extended Term Loans shall, subject to Section 2.14(g), be repaid by the Borrower in the
amounts (each such amount with respect to any Extended Repayment Date, an “Extended Term Loan Repayment Amount”) and
on the dates (each, an “Extended Repayment Date”) set forth in the applicable Extension Amendment.

 

(d)            Each
Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness of the Borrower to the
appropriate lending office of such Lender resulting from each Loan made by such lending office of such Lender from time to time, including
the amounts of principal and interest payable and paid to such lending office of such Lender from time to time under this Agreement.

 

(e)            The
Administrative Agent shall maintain the Register pursuant to Section 13.6(b), and a subaccount for each Lender, in which
Register and subaccounts (taken together) shall be recorded (i) the amount of each Loan made hereunder, whether such Loan is an
Initial Term Loan, New Term Loan, Revolving Credit Loan, New Revolving Credit Loan, Additional Revolving Credit Loan, Incremental
Revolving Credit Loan or Swingline Loan, as applicable, the Type of each Loan made, the currency in which it is made, the name of the
Borrower and the Interest Period, if any, applicable thereto, (ii) the amount of any principal or interest due and payable or to
become due and payable from the Borrower to each Lender hereunder, and (iii) the amount of any sum received by the Administrative
Agent hereunder from the Borrower and each Lender’s share thereof.

 

(f)            The
entries made in the Register and accounts and subaccounts maintained pursuant to clauses (d) and (e) of this
Section 2.5 shall, to the extent permitted by applicable law, be prima facie evidence of the existence and amounts of the
obligations of the Borrower therein recorded; provided, however, that in the event of any inconsistency between the Register
and any such account or subaccount, the Register shall govern; provided, further, that the failure of any Lender, the Administrative
Agent or the Swingline Lender to maintain such account, such Register or subaccount, as applicable, or any error therein, shall not in
any manner affect the obligation of the Borrower to repay (with applicable interest) the Loans made to the Borrower by such Lender in
accordance with the terms of this Agreement.

 

(g)            The
Borrower hereby agrees that, upon request of any Lender at any time and from time to time after the Borrower has made an initial borrowing
hereunder, the Borrower shall provide to such Lender, at the Borrower’s own expense, a promissory note, substantially in the form
of Exhibit G-1 or Exhibit G-2, as applicable, evidencing the Initial Term Loans, New Term Loans, Revolving Loans
and Swingline Loans, respectively, owing to such Lender. Thereafter, unless otherwise agreed to by the applicable Lender, the Loans evidenced
by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 13.6) be
represented by one or more promissory notes in such form payable to the payee named therein (or, if requested by such payee, to such
payee and its registered assigns).

 

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2.6            Conversions
and Continuations

 

(a)            Subject
to the penultimate sentence of this clause (a), (x) the Borrower shall have the option on any Business Day to convert all
or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans of one Type or Revolving
Credit Loans of one Type into a Borrowing or Borrowings of another Type and (y) the Borrower shall have the option on any Business
Day to continue the outstanding principal amount of any Term Benchmark Loans as Term Benchmark Loans for an additional Interest Period;
provided that (i) no partial conversion of Term Benchmark Loans shall reduce the outstanding principal amount of Term Benchmark
Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Term
Benchmark Loans if an Event of Default is in existence on the date of the conversion and the Administrative Agent has or the Required
Lenders have determined in its or their sole discretion not to permit such conversion, (iii) Term Benchmark Loans may not be continued
as Term Benchmark Loans for an additional Interest Period if an Event of Default is in existence on the date of the proposed continuation
and the Administrative Agent has or the Required Lenders have determined in its or their sole discretion not to permit such continuation,
and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in
Section 2.2. Each such conversion or continuation shall be effected by the Borrower by giving the Administrative Agent at
the Administrative Agent’s Office prior to 1:00 p.m. (New York City time) at least (i) three Business Days prior, in
the case of a continuation of or conversion to Term Benchmark Loans, or (ii) one Business Day prior in the case of a conversion
into ABR Loans (each, a “Notice of Conversion or Continuation” substantially in the form of Exhibit K)
specifying the Loans to be so converted or continued, the Type of Loans to be converted or continued into and, if such Loans are to be
converted into or continued as Term Benchmark Loans, the Interest Period to be initially applicable thereto. If no Interest Period is
specified in any such notice with respect to any conversion to or continuation as a Term Benchmark Loan, the Borrower shall be deemed
to have selected an Interest Period of one month’s duration. The Administrative Agent shall give each applicable Lender notice
as promptly as practicable of any such proposed conversion or continuation affecting any of its Loans. This Section 2.6(a) shall
not apply to Swingline Loans, which may not be converted or continued.

 

(b)            If
any Event of Default is in existence at the time of any proposed continuation of any Term Benchmark Loans denominated in Dollars and
the Administrative Agent has or the Required Lenders have determined in its or their sole discretion not to permit such continuation,
such Term Benchmark Loans shall be automatically converted on the last day of the current Interest Period into ABR Loans. If upon the
expiration of any Interest Period in respect of Term Benchmark Loans, the Borrower has failed to elect a new Interest Period to be applicable
thereto as provided in clause (a), the Borrower shall be deemed to have elected to convert such Borrowing of Term Benchmark Loans
into a Borrowing of ABR Loans, effective as of the expiration date of such current Interest Period.

 

2.7            Pro
Rata Borrowings. Each Borrowing of Revolving Credit Loans under this Agreement shall be made by the Revolving Credit Lenders pro
rata on the basis of their then-applicable Revolving Credit Commitment Percentages. Each Borrowing of New Term Loans under this Agreement
shall be made by the Lenders pro rata on the basis of their then-applicable New Term Loan Commitments. Each Borrowing of Incremental
Revolving Credit Loans under this Agreement shall be made by the Revolving Credit Lenders pro rata on the basis of their then-applicable
Incremental Revolving Credit Commitments. It is understood that (a) no Lender shall be responsible for any default by any other
Lender in its obligation to make Loans hereunder and that each Lender severally but not jointly shall be obligated to make the Loans
provided to be made by it hereunder, regardless of the failure of any other Lender to fulfill its commitments hereunder and (b) other
than as expressly provided herein with respect to a Defaulting Lender, failure by a Lender to perform any of its obligations under any
of the Credit Documents shall not release any Person from performance of its obligation, under any Credit Document.

 

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2.8            Interest

  

(a)            The
unpaid principal amount of each ABR Loan shall bear interest from the date of the Borrowing thereof until maturity (whether by acceleration
or otherwise) at a rate per annum that shall at all times be the Applicable Margin for ABR Loans plus the ABR, in each case, in
effect from time to time.

 

(b)            The
unpaid principal amount of each Term Benchmark Loan shall bear interest from the date of the Borrowing thereof until maturity thereof
(whether by acceleration or otherwise) at a rate per annum that shall at all times be the Applicable Margin for Term Benchmark Loans
plus the Term SOFR Rate.

 

(c)            If
an Event of Default has occurred and is continuing under Section 11.1 or Section 11.5 hereto, if all or a portion
of (i) the principal amount of any Loan or (ii) any interest payable thereon or any other amount payable hereunder shall not
be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per
annum that is (the “Default Rate”) (x) in the case of overdue principal, the rate that would otherwise be applicable
thereto plus 2.00% per annum or (y) in the case of any other overdue amount, including overdue interest, to the extent permitted
by applicable law, the rate described in Section 2.8(a) for the applicable Class plus 2.00% per annum from
the date of such non-payment to the date on which such amount is paid in full (after as well as before judgment).

 

(d)            Accrued
interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and, in the case of Revolving Loans, upon
termination of the Commitments; provided that (i) interest accrued pursuant to paragraph (c) of this Section shall
be payable on demand, (ii) in the event of any repayment or prepayment of any Loan, accrued interest on the principal amount repaid
or prepaid shall be payable on the date of such repayment or prepayment and (iii) in the event of any conversion of any Term Benchmark
Revolving Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective
date of such conversion.

 

(e)            All
computations of interest hereunder shall be made in accordance with Section 5.5.

 

2.9            Interest
Periods. At the time the Borrower gives a Notice of Borrowing or Notice of Conversion or Continuation in respect of the making of,
or conversion into or continuation as, a Borrowing of Term Benchmark Loans in accordance with Section 2.6(a), the Borrower
shall give the Administrative Agent written notice of the interest period (each an, “Interest Period”) applicable
to such Borrowing, which Interest Period shall, at the option of the Borrower be a one, three or six month period.

 

Notwithstanding anything
to the contrary contained above:

 

(a)            the
initial Interest Period for any Borrowing of Term Benchmark Loans shall commence on the date of such Borrowing (including the date of
any conversion from a Borrowing of ABR Loans) and each Interest Period occurring thereafter in respect of such Borrowing shall commence
on the day on which the next preceding Interest Period expires;

 

(b)            if
any Interest Period relating to a Borrowing of Term Benchmark Loans begins on the last Business Day of a calendar month or begins on
a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period, such Interest Period
shall end on the last Business Day of the calendar month at the end of such Interest Period;

 

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(c)           if
any Interest Period would otherwise expire on a day that is not a Business Day, such Interest Period shall expire on the next succeeding
Business Day; provided that if any Interest Period in respect of a Term Benchmark Loan would otherwise expire on a day that is
not a Business Day but is a day of the month after which no further Business Day occurs in such month, such Interest Period shall expire
on the immediately preceding Business Day; and

 

(d)          the
Borrower shall not be entitled to elect any Interest Period in respect of any Term Benchmark Loan if such Interest Period would extend
beyond the Maturity Date of such Loan.

 

2.10         Increased
Costs, Illegality, Etc. (a) Subject to clauses (b) and (c) of this Section 2.10, if:

 

(i)          the
Administrative Agent determines (which determination shall be conclusive absent manifest error) (A) prior to the commencement of
any Interest Period for a Term Benchmark Borrowing, that adequate and reasonable means do not exist for ascertaining the Term SOFR Rate
(including because the Term SOFR Reference Rate is not available or published on a current basis), for such Interest Period or (B) at
any time, that adequate and reasonable means do not exist for ascertaining the applicable Daily Simple SOFR, Daily Simple SOFR; or

 

(ii)          the
Administrative Agent is advised by the Required Lenders that (A) prior to the commencement of any Interest Period for a Term Benchmark
Borrowing, the Term SOFR Rate for such Interest Period will not adequately and fairly reflect the cost to such Lenders (or Lender) of
making or maintaining their Loans (or its Loan) included in such Borrowing for such Interest Period or (B) at any time, Daily Simple
SOFR will not adequately and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their Loans (or its Loan) included
in such Borrowing;

 

then the Administrative Agent shall
give notice thereof to the Borrower and the Lenders by telephone, telecopy or electronic mail as promptly as practicable thereafter and,
until (x) the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer
exist with respect to the relevant Benchmark and (y) the Borrower delivers a new Notice of Conversion or Continuation in accordance
with the terms of Section 2.6 or a new Notice of Borrowing in accordance with the terms of Section 2.3, any Notice
of Conversion or Continuation that requests the conversion of any Revolving Borrowing to, or continuation of any Revolving Borrowing as,
a Term Benchmark Borrowing and any Notices of Borrowing that requests a Term Benchmark Revolving Borrowing shall instead be deemed to
be an Notice of Conversion or Continuation or a Notice of Borrowing, as applicable, for an ABR Borrowing; provided that if
the circumstances giving rise to such notice affect only one Type of Borrowings, then all other Types of Borrowings shall be permitted.
Furthermore, if any Term Benchmark Loan is outstanding on the date of the Borrower’s receipt of the notice from the Administrative
Agent referred to in this Section 2.10(a) with respect to the Term SOFR Loan, then until (x) the Administrative
Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist with respect to the relevant
Benchmark and (y) the Borrower delivers a new Notice of Conversion or Continuation in accordance with the terms of Section 2.6
or a new Notice of Borrowing in accordance with the terms of Section 2.3, any Term Benchmark Loan shall on the last day of the Interest
Period applicable to such Loan (or the next succeeding Business Day if such day is not a Business Day), be converted by the Administrative
Agent to, and shall constitute, an ABR Loan.

 

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(iii)        Notwithstanding
anything to the contrary herein or in any other Credit Document, if a Benchmark Transition Event and its related Benchmark Replacement
Date have occurred prior to the Reference Time in respect of any setting of the then-current Benchmark, then (x) if a Benchmark Replacement
is determined in accordance with clause (1) of the definition of “Benchmark Replacement” for such Benchmark Replacement
Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Credit Document in respect of such
Benchmark setting and subsequent Benchmark settings without any amendment to, or further action or consent of any other party to, this
Agreement or any other Credit Document and (y) if a Benchmark Replacement is determined in accordance with clause (2) of the
definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark
for all purposes hereunder and under any Credit Document in respect of any Benchmark setting at or after 5:00 p.m. (New York City
time) on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the Lenders without any amendment
to, or further action or consent of any other party to, this Agreement or any other Credit Document so long as the Administrative Agent
has not received, by such time, written notice of objection to such Benchmark Replacement from Lenders comprising the Required Lenders
of each affected Class.

 

(iv)        Notwithstanding
anything to the contrary herein or in any other Credit Document, the Administrative Agent will have the right to make Benchmark Replacement
Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Credit Document, any amendments
implementing such Benchmark Replacement Conforming Changes will become effective without any further action or consent of any other party
to this Agreement or any other Credit Document.

 

(v)         The
Administrative Agent will promptly notify the Borrower and the Lenders of (A) any occurrence of a Benchmark Transition Event, (B) the
implementation of any Benchmark Replacement, (C) the effectiveness of any Benchmark Replacement Conforming Changes, (D) the
removal or reinstatement of any tenor of a Benchmark pursuant to clause (iv) below and (E) the commencement or conclusion
of any Benchmark Unavailability Period. Any determination, decision or election that may be made by the Administrative Agent or, if applicable,
any Lender (or group of Lenders) pursuant to this Section 2.10, including any determination with respect to a tenor, rate or adjustment
or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or
any selection, will be conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent
from any other party to this Agreement or any other Credit Document, except, in each case, as expressly required pursuant to this Section 2.10.

 

(vi)        Notwithstanding
anything to the contrary herein or in any other Credit Document, at any time (including in connection with the implementation of a Benchmark
Replacement), (A) if the then-current Benchmark is a term rate (including the Term SOFR Rate) and either (x) any tenor for such
Benchmark is not displayed on a screen or other information service that publishes such rate from time to time as selected by the Administrative
Agent in its reasonable discretion or (y) the regulatory supervisor for the administrator of such Benchmark has provided a public
statement or publication of information announcing that any tenor for such Benchmark is or will be no longer representative, then the
Administrative Agent may modify the definition of “Interest Period” for any Benchmark settings at or after such time to remove
such unavailable or non-representative tenor and (B) if a tenor that was removed pursuant to clause (i) above either (A) is
subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (B) is not, or is
no longer, subject to an announcement that it is or will no longer be representative for a Benchmark (including a Benchmark Replacement),
then the Administrative Agent may modify the definition of “Interest Period” for all Benchmark settings at or after such time
to reinstate such previously removed tenor.

 

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(vii)       Upon
the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any request for
a Term Benchmark Borrowing or RFR Borrowing of, conversion to or continuation of Term Benchmark Loans to be made, converted or continued
during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any request for a Term Benchmark
Borrowing into a request for a Borrowing of or conversion to (A) an RFR Borrowing so long as the Daily Simple SOFR is not the subject
of a Benchmark Transition Event or (B) an ABR Borrowing if the Daily Simple SOFR is the subject of a Benchmark Transition Event.
During any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component
of ABR based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of
ABR. Furthermore, if any Term Benchmark Loan or RFR Loan is outstanding on the date of the Borrower’s receipt of notice of the commencement
of a Benchmark Unavailability Period with respect to a Relevant Rate applicable to such Term Benchmark Loan or RFR Loan, then until such
time as a Benchmark Replacement is implemented pursuant to this Section 2.10, any Term Benchmark Loan shall on the last day
of the Interest Period applicable to such Loan (or the next succeeding Business Day if such day is not a Business Day), be converted by
the Administrative Agent to, and shall constitute, an ABR Loan.

 

(b)           If,
after the Closing Date, any Change in Law relating to capital adequacy or liquidity of any Lender or compliance by any Lender or its parent
with any Change in Law relating to capital adequacy or liquidity occurring after the Closing Date, has or would have the effect of reducing
the actual rate of return on such Lender’s or its parent’s or its Affiliate’s capital or assets as a consequence of
such Lender’s commitments or obligations hereunder to a level below that which such Lender or its parent or its Affiliate could
have achieved but for such Change in Law (taking into consideration such Lender’s or its parent’s policies with respect to
capital adequacy or liquidity), then from time to time, promptly after written demand by such Lender (with a copy to the Administrative
Agent), the Borrower shall pay to such Lender such actual additional amount or amounts as will compensate such Lender or its parent for
such actual reduction, it being understood and agreed, however, that a Lender shall not be entitled to such compensation as a result of
such Lender’s compliance with, or pursuant to any request or directive to comply with, any law, rule or regulation as in effect
on the Closing Date or to the extent such Lender is not imposing such charges on, or requesting such compensation from, borrowers (similarly
situated to the Borrower hereunder) under comparable syndicated credit facilities similar to the Credit Facilities. Each Lender, upon
determining in good faith that any additional amounts will be payable pursuant to this Section 2.10(b), will give prompt written
notice thereof to the Borrower, which notice shall set forth in reasonable detail the basis of the calculation of such additional amounts,
although the failure to give any such notice shall not, subject to Section 2.13, release or diminish the Borrower’s
obligations to pay additional amounts pursuant to this Section 2.10(b) promptly following receipt of such notice.

 

(c)           If
the Administrative Agent shall have received notice from the Required Lenders that the Term SOFR Rate determined or to be determined for
such Interest Period will not adequately and fairly reflect the cost to such Lenders (as certified by such Lenders) of making or maintaining
its affected Term Benchmark Loans during such Interest Period, the Administrative Agent shall give telecopy or telephonic notice thereof
to the Borrower and the Lenders as soon as practicable thereafter (which notice shall include supporting calculations in reasonable detail).
If such notice is given, (i) any Term Benchmark Loan requested to be made on the first day of such Interest Period shall be made
an ABR Loan, (ii) any Loans that were to have been converted on the first day of such Interest Period to Term Benchmark Loans shall
be continued as an ABR Loan and (iii) any outstanding Term Benchmark Loans shall be converted, on the first day of such Interest
Period, to ABR Loans. Until such notice has been withdrawn by the Administrative Agent, no further Term Benchmark Loans shall be made
or continued as such, nor shall the Borrower have the right to convert ABR Loans to Term Benchmark Loans.

 

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2.11        Compensation.
If (a) any payment of principal of any Term Benchmark Loan is made by the Borrower to or for the account of a Lender other than
on the last day of the Interest Period for such Term Benchmark Loan as a result of a payment or conversion pursuant to Sections 2.5,
2.6, 2.10, 5.1, 5.2 or 13.7, as a result of acceleration of the maturity of the Loans pursuant to
Section 11 or for any other reason, (b) any Borrowing of Term Benchmark Loans is not made as a result of a withdrawn
Notice of Borrowing or a failure to satisfy borrowing conditions, (c) any ABR Loan is not converted into a Term Benchmark Loan as
a result of a withdrawn Notice of Conversion or Continuation, (d) any Term Benchmark Loan is not continued as a Term Benchmark Loan,
as the case may be, as a result of a withdrawn Notice of Conversion or Continuation or (e) any prepayment of principal of any Term
Benchmark Loan is not made as a result of a withdrawn notice of prepayment pursuant to Sections 5.1 or 5.2, the Borrower
shall, after receipt of a written request by such Lender (which request shall set forth in reasonable detail the basis for requesting
such amount), promptly pay to the Administrative Agent for the account of such Lender any amounts required to compensate such Lender
for any additional losses, costs or expenses that such Lender may reasonably incur as a result of such payment, failure to convert, failure
to continue or failure to prepay, including any loss, cost or expense (excluding loss of anticipated profits) actually incurred to fund
or maintain such Term Benchmark Loan. A certificate of a Lender setting forth the amount or amounts necessary to compensate such Lender
as specified in this Section 2.11 and setting forth in reasonable detail the manner in which such amount or amounts were
determined shall be delivered to the Borrower and shall be conclusive, absent manifest error; provided that no such certificate
need disclose any information that is confidential or legally restricted. The obligations of the Borrower under this Section 2.11 shall
survive the payment in full of the Loans and the termination of this Agreement.

 

2.12        Change
of Lending Office. Each Lender agrees that, upon the occurrence of any event giving rise to the operation of Sections 2.10(a)(ii),
2.10(a)(iii), 2.10(b), 3.5 or 5.4 with respect to such Lender, it will, if requested by the Borrower use
reasonable efforts (subject to overall policy considerations of such Lender) to designate another lending office for any Loans affected
by such event; provided that such designation is made on such terms that such Lender and its lending office suffer no unreimbursed
cost or other material economic, legal or regulatory disadvantage, with the object of avoiding the consequence of the event giving rise
to the operation of any such Section. Nothing in this Section 2.12 shall affect or postpone any of the obligations of the
Borrower or the right of any Lender provided in Sections 2.10, 3.5 or 5.4.

 

2.13        Notice
of Certain Costs. Notwithstanding anything in this Agreement to the contrary, to the extent any notice required by Sections 2.10,
2.11, or 3.5 is given by any Lender more than 120 days after such Lender has knowledge (or should have had knowledge) of
the occurrence of the event giving rise to the additional cost, reduction in amounts, loss, or other additional amounts described in
such Sections, such Lender shall not be entitled to compensation under Sections 2.10, 2.11, or 3.5, as the case
may be, for any such amounts incurred or accruing prior to the 121st day prior to the giving of such notice to the Borrower.

 

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2.14        Incremental
Facilities.

 

(a)          The
Borrower may by written notice to Administrative Agent elect to request the establishment of one or more (x) additional tranches
of term loans or increases in Term Loans of any Class (the commitments thereto, the “New Term Loan Commitments”),
(y) increases in Revolving Credit Commitments of any Class (the “New Revolving Credit Commitments”), and/or
(z) additional tranches of Revolving Credit Commitments (the “Additional Revolving Credit Commitments” and, together
with the New Revolving Credit Commitments, the “Incremental Revolving Credit Commitments”; together with the New Term
Loan Commitments and the New Revolving Credit Commitments, the “New Loan Commitments”), by an aggregate amount not
in excess of the Maximum Incremental Facilities Amount in the aggregate and not less than $10,000,000 individually (or such lesser amount
as (x) may be approved by the Administrative Agent or (y) shall constitute the difference between the Maximum Incremental Facilities
Amount and all such New Loan Commitments obtained on or prior to such date). Each such notice shall specify the date (each, an “Increased
Amount Date”) on which the Borrower proposes that the New Loan Commitments shall be effective. In connection with the incurrence
of any Indebtedness under this Section 2.14, at the request of the Administrative Agent, the Borrower shall provide to the
Administrative Agent a certificate certifying that the New Loan Commitments do not exceed the Maximum Incremental Facilities Amount, which
certificate shall be in reasonable detail and shall provide the calculations and basis therefor and, subject to reclassification as set
forth in Section 10.1, classify such Indebtedness as being incurred under clause (i) or clause (ii) of
the definition of Maximum Incremental Facilities Amount. The Borrower may approach any Lender or any Person (other than a natural Person)
to provide all or a portion of the New Loan Commitments; provided that any Lender offered or approached to provide all or a portion
of the New Loan Commitments may elect or decline, in its sole discretion, to provide a New Loan Commitment. In each case, such New Loan
Commitments shall become effective as of the applicable Increased Amount Date (subject to Section 1.12); provided that
(i) no Event of Default (except in connection with an acquisition or investment, no Event of Default under Section 11.1
or Section 11.5) shall exist on such Increased Amount Date before or after giving effect to such New Loan Commitments, as
applicable, and subject to Section 1.12, (ii) the New Loan Commitments shall be effected pursuant to one or more Joinder
Agreements executed and delivered by the Borrower and Administrative Agent, and each of which shall be recorded in the Register and shall
be subject to the requirements set forth in Section 5.4(e), and (iii) the Borrower shall make any payments required pursuant
to Section 2.11 in connection with the New Loan Commitments, as applicable. No Lender shall have any obligation to provide
any Commitments pursuant to this Section 2.14(a). Any New Term Loans made on an Increased Amount Date shall, at the election
of the Borrower and agreed to by the Lenders providing such new Loan Commitments, be designated as (a) a separate series (a “Series”)
of New Term Loans for all purposes of this Agreement or (b) part of a Series of existing Term Loans. On and after the Increased
Amount Date, Additional Revolving Credit Loans shall be designated a separate Series of Additional Revolving Credit Loans for all
purposes of this Agreement.

 

(b)          On
any Increased Amount Date on which Incremental Revolving Credit Commitments are effected, subject to the satisfaction of the foregoing
terms and conditions, (a) with respect to New Revolving Credit Commitments, each of the Lenders with Revolving Credit Commitments
of such Class shall assign to each Lender with a New Revolving Credit Commitment (each, a “New Revolving Loan Lender”)
and each of the New Revolving Loan Lenders shall purchase from each of the Lenders with Revolving Credit Commitments of such Class, at
the principal amount thereof, such interests in the Revolving Credit Loans outstanding on such Increased Amount Date as shall be necessary
in order that, after giving effect to all such assignments and purchases, the Revolving Credit Loans of such Class will be held by
existing Revolving Credit Lenders and New Revolving Loan Lenders ratably in accordance with their Revolving Credit Commitments of such
Class after giving effect to the addition of such New Revolving Credit Commitments to the Revolving Credit Commitments, and (b) with
respect to Incremental Revolving Credit Commitments, (i) each Incremental Revolving Credit Commitment shall be deemed for all purposes
a Revolving Credit Commitment and, each Loan made under a New Revolving Credit Commitment (a “New Revolving Credit Loan”)
and each Loan made under an Additional Revolving Credit Commitment (an “Additional Revolving Credit Loan” and, together
with New Revolving Credit Loans, the “Incremental Revolving Credit Loan”) shall be deemed, for all purposes, Revolving
Credit Loans and (ii) each New Revolving Loan Lender and each Lender with an Additional Revolving Credit Commitment (each an “Additional
Revolving Loan Lender” and, together with the New Revolving Loan Lenders, the “Incremental Revolving Loan Lenders”)
shall become a Lender with respect to the New Revolving Credit Commitment and all matters relating thereto; provided that the Administrative
Agent, the Swingline Lender and the Letter of Credit Issuer shall have consented (not to be unreasonably withheld or delayed) to such
Lender’s or Incremental Revolving Loan Lender’s providing such Incremental Revolving Credit Commitment to the extent such
consent, if any, would be required under Section 13.6(b) for an assignment of Revolving Loans or Revolving Credit Commitments,
as applicable, to such Lender or Incremental Revolving Loan Lender.

 

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(c)          On
any Increased Amount Date on which any New Term Loan Commitments of any Series are effective, subject to the satisfaction of the
foregoing terms and conditions, (i) each Lender with a New Term Loan Commitment (each, a “New Term Loan Lender”)
of any Series shall make a Loan to the Borrower (a “New Term Loan” and, together with the Incremental Revolving
Credit Loans, the “Incremental Loans”) in an amount equal to its New Term Loan Commitment of such Series, and (ii) each
New Term Loan Lender of any Series shall become a Lender hereunder with respect to the New Term Loan Commitment of such Series and
the New Term Loans of such Series made pursuant thereto.

 

(d)          The
terms and provisions of the New Term Loans and New Term Loan Commitments of any Series shall be on terms and documentation set forth
in the Joinder Agreement as determined by the Borrower; provided that (i) the applicable New Term Loan Maturity Date of each
Series shall be no earlier than the Initial Term Loan Maturity Date; (ii) the weighted average life to maturity of all New Term
Loans shall be no shorter than the weighted average life to maturity of the then existing Initial Term Loans as calculated without giving
effect to any prepayments made in connection with the Initial Term Loans; provided that clauses (i) and (ii) shall not apply
to up to the greater of (x) $151,500,000 and (y) 50% of Consolidated EBITDA for the most recently ended Test Period of New Term
Loans as elected by the Borrower (the “Maturity Carveout Amount”); (iii) the pricing, interest rate margins, discounts,
premiums, rate floors, fees, and, subject to clauses (i) and (ii) amortization schedule applicable to any New
Term Loans shall be determined by the Borrower and the Lenders thereunder; provided that solely in the case of New Term Loans incurred
prior to the 24 month anniversary of the Sixth Amendment Effective Date, if the Effective Yield for Term Benchmark Loans or ABR Loans
in respect of such New Term Loans consisting of Term Loans that are secured by the Collateral on a pari passu basis with the Initial
Term Loans exceeds the Effective Yield for Term Benchmark Loans or ABR Loans in respect of the then existing Initial Term Loans by more
than 0.50%, the Applicable Margin for Term Benchmark Loans or ABR Loans in respect of the then existing Initial Term Loans is equal to
the Effective Yield for Term Benchmark Loans or ABR Loans in respect of the New Term Loans minus 0.50% (the terms of this proviso
to this clause (iii), the “MFN Protection”); provided further that the MFN Protection shall not apply
to (i) up to the greater of (x) $151,500,000 million and (y) 50% of Consolidated EBITDA for the most recently ended Test
Period of New Term Loans as elected by the Borrower of New Term Loans or Permitted Other Indebtedness (as selected by the Borrower), (ii) any
New Term Loans incurred in connection with a Permitted Acquisition or other Permitted Investment, (iii) any New Term Loans incurred
pursuant to clause (i) of the definition of Maximum Incremental Facilities Amount and (iv) any New Term Loan which mature
later than the date that is one year after the Initial Term Loan Maturity Date; and (iv) to the extent such terms and documentation
are not consistent with the then existing Initial Term Loans (except to the extent permitted by clause (i), (ii) or
(iii) above), they shall be reasonably satisfactory to the Administrative Agent (it being understood that, (1) to the
extent that any financial maintenance covenant is added for the benefit of any such Indebtedness, no consent shall be required by the
Administrative Agent or any of the Lenders if such financial maintenance covenant is also added for the benefit of any corresponding Term
Loans remaining outstanding after the issuance or incurrence of such Indebtedness or (2) no consent shall be required by the Administrative
Agent or any of the Lenders if any covenants or other provisions are only applicable after the Latest Term Loan Maturity Date).

 

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(e)          Incremental
Revolving Credit Commitments and Incremental Revolving Credit Loans shall be identical to the Initial Revolving Credit Commitments and
the related Revolving Credit Loans, other than the Maturity Date and as set forth in this Section 2.14(e); provided
that notwithstanding anything to the contrary in this Section 2.14 or otherwise:

 

(i)           any
such Incremental Revolving Credit Commitments or Incremental Revolving Credit Loans shall rank pari passu in right of payment and
of security with the Revolving Credit Loans and the Term Loans,

 

(ii)         any
such Incremental Revolving Credit Commitments or Incremental Revolving Credit Loans shall not mature earlier than the Initial Revolving
Credit Commitments and related Revolving Credit Loans at the time of incurrence of such Incremental Revolving Credit Commitments,

 

(iii)        the
borrowing and repayment (except for (1) payments of interest and fees at different rates on Incremental Revolving Credit Commitments
(and related outstandings), (2) repayments required upon the maturity date of the Incremental Revolving Credit Commitments, and (3) repayment
made in connection with a permanent repayment and termination of commitments (subject to clause (v) below)) of Loans with
respect to Incremental Revolving Credit Commitments after the associated Increased Amount Date shall be made on a pro rata basis with
all other Revolving Credit Commitments on such Increased Amount Date,

 

(iv)       subject
to the provisions of Section 2.1(e) and Sections 3.12 to the extent dealing with Swingline Loans and Letters
of Credit which mature or expire after a maturity date when there exists Incremental Revolving Credit Commitments with a longer maturity
date, all Swingline Loans and Letters of Credit shall be participated on a pro rata basis by all Lenders with Revolving Credit Commitments
of the same Series in accordance with their percentage of such Revolving Credit Commitments on the applicable Increased Amount Date
(and except as provided in Section 2.1(e) and Section 3.12, without giving effect to changes thereto on
an earlier maturity date with respect to Swingline Loans and Letters of Credit theretofore incurred or issued in respect of such Series),

 

(v)         the
permanent repayment of Revolving Credit Loans with respect to, and termination of, Incremental Revolving Credit Commitments after
the associated Increased Amount Date shall be made on a pro rata basis with all other Revolving Credit Commitments on such Increased Amount
Date, except that the Borrower shall be permitted to permanently repay and terminate commitments of any such Class on a better than
a pro rata basis as compared to any other Class with a later maturity date than such Class,

 

(vi)        assignments
and participations of Incremental Revolving Credit Commitments and Incremental Revolving Credit Loans shall be governed by the same assignment
and participation provisions applicable to Revolving Credit Commitments and Revolving Credit Loans on the applicable Increased Amount
Date,

 

(vii)       any
Incremental Revolving Credit Commitments may constitute a separate Class or Classes, as the case may be, of Commitments from the
Classes constituting the applicable Revolving Credit Commitments prior to such Increased Amount Date,

 

(viii)     the
pricing, fees, maturity and other immaterial terms of the Additional Revolving Credit Loans may be different and shall be determined
by the Borrower and the Lenders thereunder so long as the final maturity date and the weighted average maturity of any Additional
Revolving Credit Loans and Additional Revolving Credit Commitments, as applicable, shall not be earlier than, or shorter than, as
the case may be, the maturity date or the weighted average life, as applicable, of the Initial Revolving Credit Commitments and
related Revolving Credit Loans, and

 

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(ix)         to
the extent that any financial maintenance covenant is added for the benefit of any such Indebtedness, no consent shall be required by
the Administrative Agent or any of the Lenders if such financial maintenance covenant is also added for the benefit of any corresponding
Loans remaining outstanding after the issuance or incurrence of such Indebtedness.

 

(f)           Each
Joinder Agreement may, without the consent of any other Lenders, effect technical and corresponding amendments to this Agreement and
the other Credit Documents as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provision
of this Section 2.14.

 

(g)          (i) The
Borrower may at any time and from time to time request that all or a portion of the Term Loans of any Class (an “Existing
Term Loan Class”) be converted to extend the scheduled maturity date(s) of any payment of principal with respect to all
or a portion of any principal amount of such Term Loans (any such Term Loans which have been so converted, “Extended Term Loans”)
and to provide for other terms consistent with this Section 2.14(g). In order to establish any Extended Term Loans, the Borrower
shall provide a notice to the Administrative Agent (who shall provide a copy of such notice to each of the Lenders of the applicable Existing
Term Loan Class which such request shall be offered equally to all such Lenders) (a “Term Loan Extension Request”)
setting forth the proposed terms of the Extended Term Loans to be established, which shall not be materially more restrictive to the Credit
Parties (as determined in good faith by the Borrower), when taken as a whole, than the terms of the Term Loans of the Existing Term Loan
Class unless (x) the Lenders of the Term Loans of such applicable Existing Term Loan Class receive the benefit of such
more restrictive terms or (y) any such provisions apply after the Initial Term Loan Maturity Date (a “Permitted Other Provision”);
provided, however, that (x) the scheduled final maturity date shall be extended and all or any of the scheduled amortization
payments of principal of the Extended Term Loans may be delayed to later dates than the scheduled amortization of principal of the Term
Loans of such Existing Term Loan Class (with any such delay resulting in a corresponding adjustment to the scheduled amortization
payments reflected in Section 2.5 or in the Joinder Agreement, as the case may be, with respect to the Existing Term Loan
Class from which such Extended Term Loans were converted, in each case as more particularly set forth in paragraph (iv) of this
Section 2.14(g) below), (y) (A) the interest margins with respect to the Extended Term Loans may be higher
or lower than the interest margins for the Term Loans of such Existing Term Loan Class and/or (B) additional fees, premiums
or AHYDO payments may be payable to the Lenders providing such Extended Term Loans in addition to or in lieu of any increased margins
contemplated by the preceding clause (A), in each case, to the extent provided in the applicable Extension Amendment and to the
extent that any Permitted Other Provision (including a financial maintenance covenant) is added for the benefit of any such Indebtedness,
no consent shall be required by the Administrative Agent or any of the Lenders if such Permitted Other Provision is also added for the
benefit of any corresponding Loans remaining outstanding after the issuance or incurrence of such Indebtedness or if such Permitted Other
Provision applies only after the Initial Term Loan Maturity Date. Notwithstanding anything to the contrary in this Section 2.14
or otherwise, no Extended Term Loans may be optionally prepaid prior to the date on which the Existing Term Loan Class from which
they were converted is repaid in full, except in accordance with the last sentence of Section 5.1(a). No Lender shall have
any obligation to agree to have any of its Term Loans of any Existing Term Loan Class converted into Extended Term Loans pursuant
to any Extension Request. Any Extended Term Loans of any Extension Series shall constitute a separate Class of Term Loans from
the Existing Term Loan Class from which they were converted.

 

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(ii)          The
Borrower may at any time and from time to time request that all or a portion of the Revolving Credit Commitments of any Class, any Extended
Revolving Credit Commitments and/or any Incremental Revolving Credit Commitments, each existing at the time of such request (each, an
 “Existing Revolving Credit Commitment” and any related revolving credit loans thereunder, “Existing Revolving
Credit Loans”; each Existing Revolving Credit Commitment and related Existing Revolving Credit Loans together being referred
to as an “Existing Revolving Credit Class”) be converted to extend the termination date thereof and the scheduled maturity
date(s) of any payment of principal with respect to all or a portion of any principal amount of Loans related to such Existing Revolving
Credit Commitments (any such Existing Revolving Credit Commitments which have been so extended, “Extended Revolving Credit Commitments”
and any related Loans, “Extended Revolving Credit Loans”) and to provide for other terms consistent with this Section 2.14(g).
In order to establish any Extended Revolving Credit Commitments, the Borrower shall provide a notice to the Administrative Agent (who
shall provide a copy of such notice to each of the Lenders of the applicable Class of Existing Revolving Credit Commitments which
such request shall be offered equally to all such Lenders) setting forth the proposed terms of the Extended Revolving Credit Commitments
to be established, which shall not be materially more restrictive to the Credit Parties (as determined in good faith by the Borrower),
when taken as a whole, than the terms of the applicable Existing Revolving Credit Commitments (the “Specified Existing Revolving
Credit Commitment”) unless (x) the Lenders providing Existing Revolving Credit Loans receive the benefit of such more restrictive
terms or (y) any such provisions apply after the Revolving Credit Termination Date, in each case, to the extent provided in the applicable
Extension Amendment; provided, however, that (w) all or any of the final maturity dates of such Extended Revolving
Credit Commitments may be delayed to later dates than the final maturity dates of the Specified Existing Revolving Credit Commitments,
(x) (A) the interest margins with respect to the Extended Revolving Credit Commitments may be higher or lower than the interest
margins for the Specified Existing Revolving Credit Commitments and/or (B) additional fees and premiums may be payable to the Lenders
providing such Extended Revolving Credit Commitments in addition to or in lieu of any increased margins contemplated by the preceding
clause (A) and (y) the Revolving Credit Commitment Fee Rate with respect to the Extended Revolving Credit Commitments
may be higher or lower than the Revolving Credit Commitment Fee Rate for the Specified Existing Revolving Credit Commitment; provided
that, notwithstanding anything to the contrary in this Section 2.14(g) or otherwise, (1) the borrowing and repayment
(other than in connection with a permanent repayment and termination of commitments) of Loans with respect to any Original Revolving Credit
Commitments shall be made on a pro rata basis with all other Original Revolving Credit Commitments and (2) assignments and participations
of Extended Revolving Credit Commitments and Extended Revolving Credit Loans shall be governed by the same assignment and participation
provisions applicable to Revolving Credit Commitments and the Revolving Credit Loans related to such Commitments set forth in Section 13.6.
No Lender shall have any obligation to agree to have any of its Revolving Credit Loans or Revolving Credit Commitments of any Existing
Revolving Credit Class converted into Extended Revolving Credit Loans or Extended Revolving Credit Commitments pursuant to any Extension
Request. Any Extended Revolving Credit Commitments of any Extension Series shall constitute a separate Class of revolving credit
commitments from the Specified Existing Revolving Credit Commitments and from any other Existing Revolving Credit Commitments (together
with any other Extended Revolving Credit Commitments so established on such date).

 

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(iii)           Any
Lender (an “Extending Lender”) wishing to have all or a portion of its Term Loans, Revolving Credit Commitments, Incremental
Revolving Credit Commitment or Extended Revolving Credit Commitment of the Existing Class or Existing Classes subject to such Extension
Request converted into Extended Term Loans or Extended Revolving Credit Commitments, as applicable, shall notify the Administrative Agent
(an “Extension Election”) on or prior to the date specified in such Extension Request of the amount of its Term Loans,
Revolving Credit Commitments, Incremental Revolving Credit Commitment or Extended Revolving Credit Commitment of the Existing Class or
Existing Classes subject to such Extension Request that it has elected to convert into Extended Term Loans or Extended Revolving Credit
Commitments, as applicable. In the event that the aggregate amount of Term Loans, Revolving Credit Commitments, Incremental Revolving
Credit Commitment or Extended Revolving Credit Commitment of the Existing Class or Existing Classes subject to Extension Elections
exceeds the amount of Extended Term Loans or Extended Revolving Credit Commitments, as applicable, requested pursuant to the Extension
Request, Term Loans or Revolving Credit Commitments, Incremental Revolving Credit Commitments or Extended Revolving Credit Commitments
of the Existing Class or Existing Classes subject to Extension Elections shall be converted to Extended Term Loans or Extended Revolving
Credit Commitments, as applicable, on a pro rata basis based on the amount of Term Loans, Revolving Credit Commitments, Incremental
Revolving Credit Commitment or Extended Revolving Credit Commitment included in each such Extension Election. Notwithstanding the conversion
of any Existing Revolving Credit Commitment into an Extended Revolving Credit Commitment, such Extended Revolving Credit Commitment shall
be treated identically to all other Original Revolving Credit Commitments for purposes of the obligations of a Revolving Credit Lender
in respect of Swingline Loans under Section 2.1(c) and Letters of Credit under Section 3, except that the
applicable Extension Amendment may provide that the Swingline Maturity Date and/or the L/C Facility Maturity Date may be extended and
the related obligations to make Swingline Loans and issue Letters of Credit may be continued so long as the Swingline Lender and/or the
Letter of Credit Issuer, as applicable, have consented to such extensions in their sole discretion (it being understood that no consent
of any other Lender shall be required in connection with any such extension).

 

(iv)           Extended
Term Loans or Extended Revolving Credit Commitments, as applicable, shall be established pursuant to an amendment (an “Extension
Amendment”) to this Agreement (which, except to the extent expressly contemplated by the penultimate sentence of this Section 2.14(g)(iv) and
notwithstanding anything to the contrary set forth in Section 13.1, shall not require the consent of any Lender other than
the Extending Lenders with respect to the Extended Term Loans or Extended Revolving Credit Commitments, as applicable, established thereby)
executed by the Credit Parties, the Administrative Agent and the Extending Lenders. No Extension Amendment shall provide for any tranche
of Extended Term Loans or Extended Revolving Credit Commitments in an aggregate principal amount that is less than $10,000,000. In addition
to any terms and changes required or permitted by Section 2.14(g)(i), each Extension Amendment (x) shall amend the scheduled
amortization payments pursuant to Section 2.5 or the applicable Joinder Agreement with respect to the Existing Term Loan Class from
which the Extended Term Loans were converted to reduce each scheduled Repayment Amount for the Existing Term Loan Class in the same
proportion as the amount of Term Loans of the Existing Term Loan Class is to be converted pursuant to such Extension Amendment (it
being understood that the amount of any Repayment Amount payable with respect to any individual Term Loan of such Existing Term Loan Class that
is not an Extended Term Loan shall not be reduced as a result thereof) and (y) may, but shall not be required to, impose additional
requirements (not inconsistent with the provisions of this Agreement in effect at such time) with respect to the final maturity and weighted
average life to maturity of New Term Loans incurred following the date of such Extension Amendment. Notwithstanding anything to the contrary
in this Section 2.14(g) and without limiting the generality or applicability of Section 13.1 to any Section 2.14
Additional Amendments, any Extension Amendment may provide for additional terms and/or additional amendments other than those referred
to or contemplated above (any such additional amendment, a “Section 2.14 Additional Amendment”) to this Agreement
and the other Credit Documents; provided that such Section 2.14 Additional Amendments are within the requirements of Section 2.14(g)(i) and
do not become effective prior to the time that such Section 2.14 Additional Amendments have been consented to (including, without
limitation, pursuant to (1) consents applicable to holders of New Term Loans and New Revolving Credit Commitments provided for in
any Joinder Agreement and (2) consents applicable to holders of any Extended Term Loans or Extended Revolving Credit Commitments
provided for in any Extension Amendment) by such of the Lenders, Credit Parties and other parties (if any) as may be required in order
for such Section 2.14 Additional Amendments to become effective in accordance with Section 13.1.

 

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(v)          Notwithstanding
anything to the contrary contained in this Agreement, (A) on any date on which any Existing Class is converted to extend the
related scheduled maturity date(s) in accordance with clauses (i) and/or (ii) above (an “Extension
Date”), (I) in the case of the existing Term Loans of each Extending Lender, the aggregate principal amount of such existing
Term Loans shall be deemed reduced by an amount equal to the aggregate principal amount of Extended Term Loans so converted by such Lender
on such date, and the Extended Term Loans shall be established as a separate Class of Term Loans (together with any other Extended
Term Loans so established on such date), and (II) in the case of the Specified Existing Revolving Credit Commitments of each Extending
Lender, the aggregate principal amount of such Specified Existing Revolving Credit Commitments shall be deemed reduced by an amount equal
to the aggregate principal amount of Extended Revolving Credit Commitments so converted by such Lender on such date, and such Extended
Revolving Credit Commitments shall be established as a separate Class of revolving credit commitments from the Specified Existing
Revolving Credit Commitments and from any other Existing Revolving Credit Commitments (together with any other Extended Revolving Credit
Commitments so established on such date) and (B) if, on any Extension Date, any Loans of any Extending Lender are outstanding under
the applicable Specified Existing Revolving Credit Commitments, such Loans (and any related participations) shall be deemed to be allocated
as Extended Revolving Credit Loans (and related participations) and Existing Revolving Credit Loans (and related participations) in the
same proportion as such Extending Lender’s Specified Existing Revolving Credit Commitments to Extended Revolving Credit Commitments.

 

(vi)           The
Administrative Agent and the Lenders (other than the Swingline Lender to the extent such consent is expressly required by this Section 2.14)
hereby consent to the consummation of the transactions contemplated by this Section 2.14 (including, for the avoidance of
doubt, payment of any interest, fees, or premium in respect of any Extended Term Loans and/or Extended Revolving Credit Commitments on
such terms as may be set forth in the relevant Extension Amendment) and hereby waive the requirements of any provision of this Agreement
(including, without limitation, any pro rata payment or amendment section) or any other Credit Document that may otherwise prohibit or
restrict any such extension or any other transaction contemplated by this Section 2.14.

 

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2.15         Permitted
Debt Exchanges.

 

(a)          Notwithstanding
anything to the contrary contained in this Agreement, pursuant to one or more offers (each, a “Permitted Debt Exchange Offer”)
made from time to time by the Borrower, the Borrower may from time to time following the Closing Date consummate one or more exchanges
of Term Loans for Permitted Other Indebtedness in the form of notes (such notes, “Permitted Debt Exchange Notes,” and
each such exchange a “Permitted Debt Exchange”), so long as the following conditions are satisfied: (i) no Event
of Default shall have occurred and be continuing at the time the final offering document in respect of a Permitted Debt Exchange Offer
is delivered to the relevant Lenders, (ii) the aggregate principal amount (calculated on the face amount thereof) of Term Loans exchanged
shall equal no more than the aggregate principal amount (calculated on the face amount thereof) of Permitted Debt Exchange Notes issued
in exchange for such Term Loans; provided that the aggregate principal amount of the Permitted Debt Exchange Notes may include
accrued interest and premium (if any) under the Term Loans exchanged and underwriting discounts, fees, commissions and expenses in connection
with the issuance of such Permitted Debt Exchange Notes, (iii) the aggregate principal amount (calculated on the face amount thereof)
of all Term Loans exchanged under each applicable Class by the Borrower pursuant to any Permitted Debt Exchange shall automatically
be cancelled and retired by the Borrower on the date of the settlement thereof (and, if requested by the Administrative Agent, any applicable
exchanging Lender shall execute and deliver to the Administrative Agent an Assignment and Acceptance, or such other form as may be reasonably
requested by the Administrative Agent, in respect thereof pursuant to which the respective Lender assigns its interest in the Term Loans
being exchanged pursuant to the Permitted Debt Exchange to the Borrower for immediate cancellation), (iv) if the aggregate principal
amount of all Term Loans of a given Class (calculated on the face amount thereof) tendered by Lenders in respect of the relevant
Permitted Debt Exchange Offer (with no Lender being permitted to tender a principal amount of Term Loans which exceeds the principal amount
thereof of the applicable Class actually held by it) shall exceed the maximum aggregate principal amount of Term Loans of such Class offered
to be exchanged by the Borrower pursuant to such Permitted Debt Exchange Offer, then the Borrower shall exchange Term Loans subject to
such Permitted Debt Exchange Offer tendered by such Lenders ratably up to such maximum amount based on the respective principal amounts
so tendered, (v) all documentation in respect of such Permitted Debt Exchange shall be consistent with the foregoing, and all written
communications generally directed to the Lenders in connection therewith shall be in form and substance consistent with the foregoing
and made in consultation with the Borrower and the Auction Agent, and (vi) any applicable Minimum Tender Condition shall be satisfied.

 

(b)          With
respect to all Permitted Debt Exchanges effected by the Borrower pursuant to this Section 2.15, (i) such Permitted Debt
Exchanges (and the cancellation of the exchanged Term Loans in connection therewith) shall not constitute voluntary or mandatory payments
or prepayments for purposes of Section 5.1 or 5.2, and (ii) such Permitted Debt Exchange Offer shall be made for
not less than $10,000,000 in aggregate principal amount of Term Loans; provided that subject to the foregoing clause (ii) the
Borrower may at its election specify as a condition (a “Minimum Tender Condition”) to consummating any such Permitted
Debt Exchange that a minimum amount (to be determined and specified in the relevant Permitted Debt Exchange Offer in the Borrower’s
discretion) of Term Loans of any or all applicable Classes be tendered.

 

(c)          In
connection with each Permitted Debt Exchange, the Borrower and the Auction Agent shall mutually agree to such procedures as may be necessary
or advisable to accomplish the purposes of this Section 2.15 and without conflict with Section 2.15(d); provided
that the terms of any Permitted Debt Exchange Offer shall provide that the date by which the relevant Lenders are required to indicate
their election to participate in such Permitted Debt Exchange shall be not less than a reasonable period (in the discretion of the Borrower
and the Auction Agent) of time following the date on which the Permitted Debt Exchange Offer is made.

 

(d)          The
Borrower shall be responsible for compliance with, and hereby agrees to comply with, all applicable securities and other laws in connection
with each Permitted Debt Exchange, it being understood and agreed that (x) none of the Auction Agent, the Administrative Agent nor
any Lender assumes any responsibility in connection with the Borrower’s compliance with such laws in connection with any Permitted
Debt Exchange and (y) each Lender shall be solely responsible for its compliance with any applicable “insider trading”
laws and regulations to which such Lender may be subject under the Securities Exchange Act.

 

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2.16        Defaulting
Lenders.

 

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

 

(i)           Waivers
and Amendments.  Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect
to this Agreement shall be restricted as set forth in the definition of Required Lenders and Section 13.1.

 

(ii)          Defaulting
Lender Waterfall.  Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account
of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Section 11 or otherwise) or received by
the Administrative Agent from a Defaulting Lender pursuant to Section 13.8 shall be applied at such time or times as may be
determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the
Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to the
Letter of Credit Issuer or Swingline Lender hereunder; third, to Cash Collateralize the Letter of Credit Issuer’s Fronting
Exposure with respect to such Defaulting Lender in accordance with Section 3.8; fourth, as the Borrower may request
(so long as no Default exists), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof
as required by this Agreement, as determined by the Administrative Agent; fifth, if so determined by the Administrative Agent and
the Borrower, to be held in a deposit account and released pro rata in order to (x) satisfy such Defaulting Lender’s potential
future funding obligations with respect to Loans under this Agreement and (y) Cash Collateralize the Letter of Credit Issuer’s
future Fronting Exposure with respect to such Defaulting Lender with respect to future Letters of Credit issued under this Agreement,
in accordance with Section 3.8; sixth, to the payment of any amounts owing to the Borrower, the Lenders, the Letter
of Credit Issuer or Swingline Lender as a result of any judgment of a court of competent jurisdiction obtained by the Borrower, any Lender,
the Letter of Credit Issuer or the Swingline Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach
of its obligations under this Agreement; and seventh, to such Defaulting Lender or as otherwise directed by a court of competent
jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Loans or L/C Borrowings in respect
of which such Defaulting Lender has not fully funded its appropriate share, and (y) such Loans were made or the related Letters of
Credit were issued at a time when the conditions set forth in Section 7 were satisfied or waived, such payment shall be applied
solely to pay the Loans of, and L/C Obligations owed to, all Non-Defaulting Lenders on a pro rata basis prior to being applied to the
payment of any Loans of, or L/C Obligations owed to, such Defaulting Lender until such time as all Loans and funded and unfunded participations
in L/C Obligations and Swingline Loans are held by the Lenders pro rata in accordance with the Commitments hereunder without giving effect
to Section 2.16(a)(iv).  Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied
(or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.16(a)(ii) shall
be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto.

 

(iii)           Certain
Fees.

 

		(A)	No Defaulting Lender shall be entitled to receive any fee payable under Section 4 for any
period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would
have been required to have been paid to that Defaulting Lender).

 

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		(B)	Each Defaulting Lender shall be entitled to receive Letter of Credit Fees for any period during which
that Lender is a Defaulting Lender only to the extent allocable to its Revolving Credit Commitment Percentage of the stated amount of
Letters of Credit for which it has provided Cash Collateral pursuant to Section 3.8.

 

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

 

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

 

(v)          Cash
Collateral, Repayment of Swingline Loans.  If the reallocation described in clause (a)(iv) above cannot, or
can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to them hereunder or under applicable
law, (x) first, prepay Swingline Loans in an amount equal to the Swingline Lenders’ Fronting Exposure and (y) second,
Cash Collateralize the Letter of Credit Issuers’ Fronting Exposure in accordance with the procedures set forth in Section 3.8.

 

(b)          Defaulting
Lender Cure.  If the Borrower, the Administrative Agent, the Swingline Lender, and the Letter of Credit Issuer agree in writing
that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective
date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any Cash
Collateral), that Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders or take
such other actions as the Administrative Agent may determine to be necessary to cause the Revolving Credit Loans and funded and unfunded
participations in Letters of Credit and Swingline Loans to be held on a pro rata basis by the Lenders in accordance with their Revolving
Credit Commitment Percentages (without giving effect to Section 2.16(a)(iv)), whereupon such Lender will cease to be a Defaulting
Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of
the Borrower while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly
agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim
of any party hereunder arising from that Lender’s having been a Defaulting Lender.

 

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Section 3.
              Letters of Credit

 

3.1          Letters
of Credit.

 

(a)          Subject
to and upon the terms and conditions set forth herein, at any time and from time to time after the Closing Date and prior to the L/C Facility
Maturity Date, the Letter of Credit Issuer agrees, in reliance upon the agreements of the Revolving Credit Lenders set forth in this Section 3,
to issue from time to time from the Closing Date through the L/C Facility Maturity Date for the account of the Borrower (or, so long as
the Borrower is the primary obligor, for the account of Holdings or any Restricted Subsidiary (other than the Borrower)) letters of credit
(the “Letters of Credit” and each, a “Letter of Credit”), which Letters of Credit shall not at any
time exceed (i) without the consent of the applicable Letter of Credit Issuer, a Letter of Credit Issuer’s Letter of Credit
Commitment or (ii) the L/C Sublimit in such form as may be approved by the Letter of Credit Issuer in its reasonable discretion.

 

(b)          Notwithstanding
the foregoing, (i) without the consent of the applicable Letter of Credit Issuer, no Letter of Credit shall be issued the Stated
Amount of which, when added to the Letters of Credit Outstanding of such Letter of Credit Issuer at such time, would exceed the Letter
of Credit Commitment of such Letter of Credit Issuer then in effect; (ii) no Letter of Credit shall be issued the Stated Amount of
which, when added to the Letters of Credit Outstanding at such time, would exceed the L/C Sublimit then in effect; (iii) no Letter
of Credit shall be issued the Stated Amount of which would cause the aggregate amount of the Lenders’ Revolving Credit Exposures
at the time of the issuance thereof to exceed the Total Revolving Credit Commitment then in effect; (iv) each Letter of Credit shall
have an expiration date occurring no later than one year after the date of issuance thereof (except as set forth in Section 3.2(d)),
provided that in no event shall such expiration date occur later than the L/C Facility Maturity Date, in each case, unless otherwise
agreed upon by the Administrative Agent, the Letter of Credit Issuer and, unless such Letter of Credit has been Cash Collateralized, the
Revolving Credit Lenders; (v) the Letter of Credit shall be denominated in Dollars; (vi) no Letter of Credit shall be issued
if it would be illegal under any applicable law for the beneficiary of the Letter of Credit to have a Letter of Credit issued in its favor;
and (vii) no Letter of Credit shall be issued by the Letter of Credit Issuer after it has received a written notice from any Credit
Party or the Administrative Agent or the Required Revolving Credit Lenders stating that a Default or Event of Default has occurred and
is continuing until such time as the Letter of Credit Issuer shall have received a written notice of (x) rescission of such notice
from the party or parties originally delivering such notice or (y) the waiver of such Default or Event of Default in accordance with
the provisions of Section 13.1.

 

(c)          Upon
at least two Business Days’ prior written notice to the Administrative Agent and the Letter of Credit Issuer (which notice the Administrative
Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right, on any day, permanently to terminate or reduce
the Letter of Credit Commitment in whole or in part; provided that, after giving effect to such termination or reduction, the Letters
of Credit Outstanding shall not exceed the Letter of Credit Commitment.

 

(d)          The
parties hereto agree that the Existing Letters of Credit shall be deemed to be Letters of Credit for all purposes under this Agreement,
without any further action by the Borrower, the Letter of Credit Issuer or any other Person.

 

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(e)           The
Letter of Credit Issuer shall not be under any obligation to issue any Letter of Credit if:

 

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

 

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

 

(iii)          except
as otherwise agreed by the Letter of Credit Issuer, such Letter of Credit is in an initial Stated Amount less than $50,000, in the case
of a commercial Letter of Credit, or $10,000, in the case of a standby Letter of Credit;

 

(iv)         such
Letter of Credit is denominated in a currency other than Dollars;

 

(v)          such
Letter of Credit contains any provisions for automatic reinstatement of the Stated Amount after any drawing thereunder; or

 

(vi)          a
default of any Revolving Credit Lender’s obligations to fund under Section 3.3 exists or any Revolving Credit Lender
is at such time a Defaulting Lender hereunder, unless, in each case, the Borrower have entered into arrangements reasonably satisfactory
to the Letter of Credit Issuer to eliminate such Letter of Credit Issuer’s risk with respect to such Revolving Credit Lender or
such risk has been reallocated in accordance with Section 2.16.

 

(f)            The
Letter of Credit Issuer shall not increase the Stated Amount of any Letter of Credit if the Letter of Credit Issuer would not be permitted
at such time to issue such Letter of Credit in its amended form under the terms hereof.

 

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

 

(h)           The
Letter of Credit Issuer shall act on behalf of the Revolving Credit Lenders with respect to any Letters of Credit issued by it and the
documents associated therewith and the Letter of Credit Issuer shall have all of the benefits and immunities (A) provided to the
Administrative Agent in Section 13 with respect to any acts taken or omissions suffered by the Letter of Credit Issuer in
connection with Letters of Credit issued by it or proposed to be issued by it and Issuer Documents pertaining to such Letters of Credit
as fully as if the term “Administrative Agent” as used in Section 13 included the Letter of Credit Issuer with
respect to such acts or omissions, and (B) as additionally provided herein with respect to the Letter of Credit Issuer.

 

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3.2           Letter
of Credit Requests.

 

(a)           Whenever
the Borrower desires that a Letter of Credit be issued for its account or amended, the Borrower shall give the Administrative Agent and
the Letter of Credit Issuer a Letter of Credit Request by no later than 1:00 p.m. (New York City time) at least three Business Days
(or such other period as may be agreed upon by the Borrower, the Administrative Agent and the Letter of Credit Issuer) prior to the proposed
date of issuance or amendment. Each Letter of Credit Request shall be executed by the Borrower. Such Letter of Credit Request may be sent
by facsimile, by United States mail, by overnight courier, by electronic transmission using the system provided by the Letter of Credit
Issuer, by personal delivery or by any other means acceptable to the Letter of Credit Issuer.

 

(b)           In
the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit Request shall specify in form and detail reasonably
satisfactory to the Letter of Credit Issuer: (A) the proposed issuance date of the requested Letter of Credit (which shall be a Business
Day); (B) the Stated Amount thereof; (C) the expiry date thereof; (D) the name and address of the beneficiary thereof;
(E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate
to be presented by such beneficiary in case of any drawing thereunder; (G) the identity of the applicant; and (H) such other
matters as the Letter of Credit Issuer may reasonably require. In the case of a request for an amendment of any outstanding Letter of
Credit, such Letter of Credit Request shall specify in form and detail reasonably satisfactory to the Letter of Credit Issuer (I) the
Letter of Credit to be amended; (II) the proposed date of amendment thereof (which shall be a Business Day); (III) the nature
of the proposed amendment; and (IV) such other matters as the Letter of Credit Issuer may reasonably require. Additionally, the Borrower
shall furnish to the Letter of Credit Issuer and the Administrative Agent such other documents and information pertaining to such requested
Letter of Credit issuance or amendment, including any Issuer Documents, as the Letter of Credit Issuer or the Administrative Agent may
reasonably require.

 

(c)           Unless
the Letter of Credit Issuer has received written notice from any Revolving Credit Lender, the Administrative Agent or any Credit Party,
at least one Business Day prior to the requested date of issuance or amendment of the Letter of Credit, that one or more applicable conditions
contained in Sections 6 (solely with respect to any Letter of Credit issued on the Closing Date) and 7 shall not then be
satisfied to the extent required thereby, then, subject to the terms and conditions hereof, the Letter of Credit Issuer shall, on the
requested date, issue a Letter of Credit for the account of the Borrower (or, so long as the Borrower is the primary obligor, for the
account of Holdings or another Restricted Subsidiary) or enter into the applicable amendment, as the case may be, in each case in accordance
with the applicable Letter of Credit Issuer’s usual and customary business practices.

 

(d)           If
the Borrower so requests in any Letter of Credit Request, the Letter of Credit Issuer shall agree to issue a Letter of Credit that has
automatic extension provisions (each, an “Auto-Extension Letter of Credit”); provided that any such Auto-Extension
Letter of Credit must permit the Letter of Credit Issuer to prevent any such extension at least once in each twelve-month period (commencing
with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof and the Borrower not later than
a day (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at the time such Letter
of Credit is issued. Unless otherwise directed by the Letter of Credit Issuer, the Borrower shall not be required to make a specific request
to the Letter of Credit Issuer for any such extension. Once an Auto-Extension Letter of Credit has been issued, the Lenders shall be deemed
to have authorized (but may not require) the Letter of Credit Issuer to permit the extension of such Letter of Credit at any time to an
expiry date not later than the L/C Facility Maturity Date, unless otherwise agreed upon by the Administrative Agent and the Letter of
Credit Issuer; provided, however, that the Letter of Credit Issuer shall not permit any such extension if (A) the Letter
of Credit Issuer has reasonably determined that it would not be permitted, or would have no obligation, at such time to issue such Letter
of Credit in its revised form (as extended) under the terms hereof (by reason of the provisions of clause (b) of Section 3.1
or otherwise), or (B) it has received written notice on or before the day that is seven Business Days before the Non-Extension Notice
Date from the Administrative Agent, any Lender or the Borrower that one or more of the applicable conditions specified in Sections
6 and 7 are not then satisfied, and in each such case directing the Letter of Credit Issuer not to permit such extension.

 

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(e)           Promptly
after its delivery of any Letter of Credit or any amendment to a Letter of Credit (including any Existing Letter of Credit) to an advising
bank with respect thereto or to the beneficiary thereof, the Letter of Credit Issuer will also deliver to the Borrower and the Administrative
Agent a true and complete copy of such Letter of Credit or amendment. On the first Business Day of each month, the Letter of Credit Issuer
shall provide the Administrative Agent a list of all Letters of Credit (including any Existing Letter of Credit) issued by it that are
outstanding at such time.

 

(f)            The
making of each Letter of Credit Request shall be deemed to be a representation and warranty by the Borrower that the Letter of Credit
may be issued in accordance with, and will not violate the requirements of, Section 3.1(b).

 

3.3           Letter
of Credit Participations.

 

(a)           Immediately
upon the issuance by the Letter of Credit Issuer of any Letter of Credit, the Letter of Credit Issuer shall be deemed to have sold and
transferred to each Revolving Credit Lender (each such Revolving Credit Lender, in its capacity under this Section 3.3, an
 “L/C Participant”), and each such L/C Participant shall be deemed irrevocably and unconditionally to have purchased
and received from the Letter of Credit Issuer, without recourse or warranty, an undivided interest and participation (each an “L/C
Participation”), to the extent of such L/C Participant’s Revolving Credit Commitment Percentage in each Letter of Credit,
each substitute therefor, each drawing made thereunder and the obligations of the Borrower under this Agreement with respect thereto,
and any security therefor or guaranty pertaining thereto; provided that the Letter of Credit Fees will be paid directly to the
Administrative Agent for the ratable account of the L/C Participants as provided in Section 4.1(b) and the L/C Participants
shall have no right to receive any portion of any Fronting Fees.

 

(b)           In
determining whether to pay under any Letter of Credit, the relevant Letter of Credit Issuer shall have no obligation relative to the L/C
Participants other than to confirm that any documents required to be delivered under such Letter of Credit have been delivered and that
they appear to comply on their face with the requirements of such Letter of Credit. Any action taken or omitted to be taken by the relevant
Letter of Credit Issuer under or in connection with any Letter of Credit issued by it, if taken or omitted in the absence of gross negligence
or willful misconduct as determined in the final non-appealable judgment of a court of competent jurisdiction, shall not create for the
Letter of Credit Issuer any resulting liability.

 

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(c)           In
the event that the Letter of Credit Issuer makes any payment under any Letter of Credit issued by it and the applicable Borrower shall
not have repaid such amount in full to the respective Letter of Credit Issuer through the Administrative Agent pursuant to Section 3.4(a),
the Administrative Agent shall promptly notify each L/C Participant of such failure, and each L/C Participant shall promptly and unconditionally
pay to the Administrative Agent for the account of the Letter of Credit Issuer, the amount of such L/C Participant’s Revolving Credit
Commitment Percentage of such unreimbursed payment in Dollars and in immediately available funds. If and to the extent such L/C Participant
shall not have so made its Revolving Credit Commitment Percentage of the amount of such payment available to the Administrative Agent
for the account of the Letter of Credit Issuer, such L/C Participant agrees to pay to the Administrative Agent for the account of the
Letter of Credit Issuer, forthwith on demand, such amount, together with interest thereon for each day from such date until the date such
amount is paid to the Administrative Agent for the account of the Letter of Credit Issuer at a rate per annum equal to the Overnight Bank
Funding Rate from time to time then in effect, plus any administrative, processing or similar fees that are reasonably and customarily
charged by the Letter of Credit Issuer in connection with the foregoing. The failure of any L/C Participant to make available to the Administrative
Agent for the account of the Letter of Credit Issuer its Revolving Credit Commitment Percentage of any payment under any Letter of Credit
shall not relieve any other L/C Participant of its obligation hereunder to make available to the Administrative Agent for the account
of the Letter of Credit Issuer its Revolving Credit Commitment Percentage of any payment under such Letter of Credit on the date required,
as specified above, but no L/C Participant shall be responsible for the failure of any other L/C Participant to make available to the
Administrative Agent such other L/C Participant’s Revolving Credit Commitment Percentage of any such payment.

 

(d)           Whenever
the Administrative Agent receives a payment in respect of an unpaid reimbursement obligation as to which the Administrative Agent has
received for the account of the Letter of Credit Issuer any payments from the L/C Participants pursuant to clause (c) above,
the Administrative Agent shall promptly pay to each L/C Participant that has paid its Revolving Credit Commitment Percentage of such reimbursement
obligation, in Dollars and in immediately available funds, an amount equal to such L/C Participant’s share (based upon the proportionate
aggregate amount originally funded by such L/C Participant to the aggregate amount funded by all L/C Participants) of the amount so paid
in respect of such reimbursement obligation and interest thereon accruing after the purchase of the respective L/C Participations at the
Overnight Bank Funding Rate.

 

(e)           The
obligations of the L/C Participants to make payments to the Administrative Agent for the account of the Letter of Credit Issuer with respect
to Letters of Credit shall be irrevocable and not subject to counterclaim, set-off or other defense or any other qualification or exception
whatsoever and shall be made in accordance with the terms and conditions of this Agreement under all circumstances.

 

(f)            If
any payment received by the Administrative Agent for the account of the Letter of Credit Issuer pursuant to Section 3.3(c) is
required to be returned under any of the circumstances described in Section 13.20 (including pursuant to any settlement entered
into by the Letter of Credit Issuer in its discretion), each Lender shall pay to the Administrative Agent for the account of the Letter
of Credit Issuer its Revolving Credit Commitment Percentage thereof on demand of the Administrative Agent, plus interest thereon
from the date of such demand to the date such amount is returned by such Lender, at a rate per annum equal to the applicable Overnight
Bank Funding Rate from time to time in effect. The obligations of the Lenders under this clause shall survive the payment in full of the
Obligations and the termination of this Agreement.

 

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3.4           Agreement
to Repay Letter of Credit Drawings.

 

(a)           The
Borrower hereby agrees to reimburse the Letter of Credit Issuer, by making payment with respect to any drawing under any Letter of Credit
in the same currency in which such drawing was made unless the Letter of Credit Issuer (at its option) shall have specified in the notice
of drawing that it will require reimbursement in Dollars. Any such reimbursement shall be made by the Borrower to the Administrative Agent
in immediately available funds for any payment or disbursement made by the Letter of Credit Issuer under any Letter of Credit (each such
amount so paid until reimbursed, an “Unpaid Drawing”) no later than the date that is one Business Day after the date
on which the Borrower receives written notice of such payment or disbursement (the “Reimbursement Date”), with interest
on the amount so paid or disbursed by the Letter of Credit Issuer, to the extent not reimbursed prior to 5:00 p.m. (New York City
time) on the Reimbursement Date, from the Reimbursement Date to the date the Letter of Credit Issuer is reimbursed therefor at a rate
per annum that shall at all times be the Applicable Margin for ABR Loans that are Revolving Credit Loans plus the ABR as in effect
from time to time, provided that, notwithstanding anything contained in this Agreement to the contrary, (i) unless the Borrower
shall have notified the Administrative Agent and the relevant Letter of Credit Issuer prior to 1:00 p.m. (New York City time) on
the Reimbursement Date that the Borrower intends to reimburse the relevant Letter of Credit Issuer for the amount of such drawing with
funds other than the proceeds of Loans, the Borrower shall be deemed to have given a Notice of Borrowing requesting that, with respect
to Letters of Credit, the Revolving Credit Lenders make Revolving Credit Loans (which shall be denominated in Dollars and which shall
be ABR Loans) on the Reimbursement Date in the amount of such drawing and (ii) the Administrative Agent shall promptly notify each
L/C Participant of such drawing and the amount of its Revolving Credit Loan to be made in respect thereof, and each L/C Participant shall
be irrevocably obligated to make a Revolving Credit Loan to the Borrower in Dollars in the manner deemed to have been requested in the
amount of its Revolving Credit Commitment Percentage of the applicable Unpaid Drawing by 2:00 p.m. (New York City time) on such Reimbursement
Date by making the amount of such Revolving Credit Loan available to the Administrative Agent. Such Revolving Credit Loans shall be made
without regard to the Minimum Borrowing Amount. The Administrative Agent shall use the proceeds of such Revolving Credit Loans solely
for purpose of reimbursing the Letter of Credit Issuer for the related Unpaid Drawing. In the event that the Borrower fails to Cash Collateralize
any Letter of Credit that is outstanding on the L/C Facility Maturity Date, the full amount of the Letters of Credit Outstanding in respect
of such Letter of Credit shall be deemed to be an Unpaid Drawing subject to the provisions of this Section 3.4 except that
the Letter of Credit Issuer shall hold the proceeds received from the L/C Participants as contemplated above as cash collateral for such
Letter of Credit to reimburse any Unpaid Drawing under such Letter of Credit and shall use such proceeds first, to reimburse itself for
any Unpaid Drawings made in respect of such Letter of Credit following the L/C Facility Maturity Date, second, to the extent such Letter
of Credit expires or is returned undrawn while any such cash collateral remains, to the repayment of obligations in respect of any Revolving
Credit Loans that have not been paid at such time and third, to the Borrower or as otherwise directed by a court of competent jurisdiction.
Nothing in this Section 3.4(a) shall affect the Borrower’s obligation to repay all outstanding Revolving Credit
Loans when due in accordance with the terms of this Agreement.

 

(b)           The
obligation of the Borrower to reimburse the Letter of Credit Issuer for each drawing under each Letter of Credit and to repay each L/C
Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement
under all circumstances, including the following:

 

(i)            any
lack of validity or enforceability of this Agreement or any of the other Credit Documents;

 

(ii)           the
existence of any claim, set-off, defense or other right that the Borrower may have at any time against a beneficiary named in a Letter
of Credit, any transferee of any Letter of Credit (or any Person for whom any such transferee may be acting), the Administrative Agent,
the Letter of Credit Issuer, any Lender or other Person, whether in connection with this Agreement, any Letter of Credit, the transactions
contemplated herein or any unrelated transactions (including any underlying transaction between the Borrower and the beneficiary named
in any such Letter of Credit);

 

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

 

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(iv)          waiver
by the Letter of Credit Issuer of any requirement that exists for the Letter of Credit Issuer’s protection and not the protection
of the Borrower (or Holdings or other Restricted Subsidiary) or any waiver by the Letter of Credit Issuer which does not in fact materially
prejudice the Borrower (or Holdings or other Restricted Subsidiary);

 

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

 

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

 

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

 

(viii)        any
adverse change in any relevant exchange rates or in the relevant currency markets generally; or

 

(ix)          any
other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other circumstance that might
otherwise constitute a defense available to, or a discharge of, the Borrower (or Holdings or other Restricted Subsidiary) (other than
the defense of payment or performance).

 

(c)           The
Borrower shall not be obligated to reimburse the Letter of Credit Issuer for any wrongful payment made by the Letter of Credit Issuer
under the Letter of Credit issued by it as a result of acts or omissions constituting willful misconduct or gross negligence on the part
of the Letter of Credit Issuer as determined in the final non-appealable judgment of a court of competent jurisdiction.

 

3.5           Increased
Costs. If, after the Closing Date, any Change in Law shall (x) impose, modify or make applicable any reserve, deposit, capital
adequacy, liquidity or similar requirement against letters of credit issued by the Letter of Credit Issuer, or any L/C Participant’s
L/C Participation therein, (y) impose on the Letter of Credit Issuer or any L/C Participant any other conditions or costs affecting
its obligations under this Agreement in respect of Letters of Credit or L/C Participations therein or any Letter of Credit or such L/C
Participant’s L/C Participation therein (other than with respect to Taxes) or (z) impose on the Letter of Credit Issuer or
any L/C Participant any other conditions or costs affecting its obligations under this Agreement in respect of Letters of Credit or L/C
Participations therein or any Letter of Credit or such L/C Participant’s L/C Participation therein other than (1) Indemnified
Taxes, (2) Excluded Taxes or (3) Other Taxes) on its loans, loan principal, letters of credits, commitments or other obligations,
or its deposits, reserves, other liabilities or capital attributable thereto, and the result of any of the foregoing is to increase the
actual cost to the Letter of Credit Issuer or such L/C Participant of issuing, maintaining or participating in any Letter of Credit,
or to reduce the actual amount of any sum received or receivable by the Letter of Credit Issuer or such L/C Participant hereunder in
respect of Letters of Credit or L/C Participations therein, then, promptly after receipt of written demand to the Borrower by the Letter
of Credit Issuer or such L/C Participant, as the case may be (a copy of which notice shall be sent by the Letter of Credit Issuer or
such L/C Participant to the Administrative Agent (with respect to a Letter of Credit issued on account of the Borrower (or Holdings or
other Restricted Subsidiary))), the Borrower shall pay to the Letter of Credit Issuer or such L/C Participant such actual additional
amount or amounts as will compensate the Letter of Credit Issuer or such L/C Participant for such increased cost or reduction, it being
understood and agreed, however, that the Letter of Credit Issuer or an L/C Participant shall not be entitled to such compensation as
a result of such Person’s compliance with, or pursuant to any request or directive to comply with, any law, rule or regulation
as in effect on the Closing Date. A certificate submitted to the Borrower by the relevant Letter of Credit Issuer or an L/C Participant,
as the case may be (a copy of which certificate shall be sent by the Letter of Credit Issuer or such L/C Participant to the Administrative
Agent), setting forth in reasonable detail the basis for the determination of such actual additional amount or amounts necessary to compensate
the Letter of Credit Issuer or such L/C Participant as aforesaid shall be conclusive and binding on the Borrower absent clearly demonstrable
error. The obligations of the Borrower under this Section 3.5 shall survive the payment in full of the Obligations and the
termination of this Agreement.

 

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3.6           New
or Successor Letter of Credit Issuer.

 

(a)           The
Letter of Credit Issuer may resign as the Letter of Credit Issuer upon 60 days’ prior written notice to the Administrative Agent,
the Lenders, Holdings, and the Borrower. The Borrower may replace any Letter of Credit Issuer for any reason upon written notice to the
Administrative Agent and such Letter of Credit Issuer. The Borrower may add Letter of Credit Issuers at any time upon notice to the Administrative
Agent. If the Letter of Credit Issuer shall resign or be replaced, or if the Borrower shall decide to add a new Letter of Credit Issuer
under this Agreement, then the Borrower may appoint from among the Revolving Credit Lenders a successor issuer of Letters of Credit or
a new Letter of Credit Issuer, as the case may be, or, with the consent of the Administrative Agent (such consent not to be unreasonably
withheld or delayed), another successor or new issuer of Letters of Credit, whereupon such successor issuer accepting such appointment
shall succeed to the rights, powers and duties of the replaced or resigning Letter of Credit Issuer under this Agreement and the other
Credit Documents, or such new issuer of Letters of Credit accepting such appointment shall be granted the rights, powers and duties of
the Letter of Credit Issuer hereunder, and the term Letter of Credit Issuer shall mean such successor or such new issuer of Letters of
Credit effective upon such appointment. At the time such resignation or replacement shall become effective, the Borrower shall pay to
the resigning or replaced Letter of Credit Issuer all accrued and unpaid fees applicable to the Letters of Credit pursuant to Sections
4.1(b) and 4.1(d). The acceptance of any appointment as the Letter of Credit Issuer hereunder whether as a successor issuer
or new issuer of Letters of Credit in accordance with this Agreement, shall be evidenced by an agreement entered into by such new or successor
issuer of Letters of Credit, in a form reasonably satisfactory to the Borrower and the Administrative Agent and, from and after the effective
date of such agreement, such new or successor issuer of Letters of Credit shall become the Letter of Credit Issuer hereunder. After the
resignation or replacement of the Letter of Credit Issuer hereunder, the resigning or replaced Letter of Credit Issuer shall remain a
party hereto and shall continue to have all the rights and obligations of the Letter of Credit Issuer under this Agreement and the other
Credit Documents with respect to Letters of Credit issued by it prior to such resignation or replacement, but shall not be required to
issue additional Letters of Credit. In connection with any resignation or replacement pursuant to this clause (a) (but, in
case of any such resignation, only to the extent that a successor issuer of Letters of Credit shall have been appointed), either (i) the
Borrower, the resigning or replaced Letter of Credit Issuer and the successor issuer of Letters of Credit shall arrange to have any outstanding
Letters of Credit issued by the resigning or replaced Letter of Credit Issuer replaced with Letters of Credit issued by the successor
issuer of Letters of Credit or (ii) the Borrower shall cause the successor issuer of Letters of Credit, if such successor issuer
is reasonably satisfactory to the replaced or resigning Letter of Credit Issuer, to issue “back-stop” Letters of Credit naming
the resigning or replaced Letter of Credit Issuer as beneficiary for each outstanding Letter of Credit issued by the resigning or replaced
Letter of Credit Issuer, which new Letters of Credit shall be denominated in the same currency as, and shall have a face amount equal
to, the Letters of Credit being back-stopped and the sole requirement for drawing on such new Letters of Credit shall be a drawing on
the corresponding back-stopped Letters of Credit. After any resigning or replaced Letter of Credit Issuer’s resignation or replacement
as Letter of Credit Issuer, the provisions of this Agreement relating to the Letter of Credit Issuer shall inure to its benefit as to
any actions taken or omitted to be taken by it (A) while it was the Letter of Credit Issuer under this Agreement or (B) at any
time with respect to Letters of Credit issued by such Letter of Credit Issuer.

 

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(b)           To
the extent there are, at the time of any resignation or replacement as set forth in clause (a) above, any outstanding Letters
of Credit, nothing herein shall be deemed to impact or impair any rights and obligations of any of the parties hereto with respect to
such outstanding Letters of Credit (including, without limitation, any obligations related to the payment of Fees or the reimbursement
or funding of amounts drawn), except that the Borrower, the resigning or replaced Letter of Credit Issuer and the successor issuer of
Letters of Credit shall have the obligations regarding outstanding Letters of Credit described in clause (a) above.

 

3.7           Role
of Letter of Credit Issuer. Each Lender and the Borrower agree that, in paying any drawing under a Letter of Credit, the Letter of
Credit Issuer shall not have any responsibility to obtain any document (other than any sight draft, certificates and documents expressly
required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of
the Person executing or delivering any such document. None of the Letter of Credit Issuer, the Administrative Agent, any of their respective
Affiliates nor any correspondent, participant or assignee of the Letter of Credit Issuer shall be liable to any Lender for (i) any
action taken or omitted in connection herewith at the request or with the approval of the Required Revolving Credit Lenders; (ii) any
action taken or omitted in the absence of gross negligence or willful misconduct as determined in the final non-appealable judgment of
a court of competent jurisdiction; or (iii) the due execution, effectiveness, validity or enforceability of any document or instrument
related to any Letter of Credit or Issuer Document. The Borrower hereby assumes all risks of the acts or omissions of any beneficiary
or transferee with respect to its use of any Letter of Credit; provided that this assumption is not intended to, and shall not,
preclude the Borrower’s pursuit of such rights and remedies as they may have against the beneficiary or transferee at law or under
any other agreement. None of the Letter of Credit Issuer, the Administrative Agent, any of their respective Affiliates nor any correspondent,
participant or assignee of the Letter of Credit Issuer shall be liable or responsible for any of the matters described in Section 3.3(b);
provided that anything in such Section to the contrary notwithstanding, the Borrower may have a claim against a Letter of
Credit Issuer, and a Letter of Credit Issuer may be liable to the Borrower, to the extent, but only to the extent, of any direct, as
opposed to consequential or exemplary, damages suffered by the Borrower which the Borrower proves were caused by such Letter of Credit
Issuer’s willful misconduct or gross negligence or the Letter of Credit Issuer’s willful failure to pay under any Letter
of Credit after the presentation to it by the beneficiary of a sight draft and certificate(s) strictly complying with the terms
and conditions of a Letter of Credit in each case as determined in the final non-appealable judgment of a court of competent jurisdiction.
In furtherance and not in limitation of the foregoing, the Letter of Credit Issuer may accept documents that appear on their face to
be in order, without responsibility for further investigation, regardless of any notice or information to the contrary, and the Letter
of Credit Issuer shall not be responsible for the validity or sufficiency of any instrument transferring or assigning or purporting to
transfer or assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove
to be invalid or ineffective for any reason.

 

The Letter of Credit Issuer
may send a Letter of Credit or conduct any communication to or from the beneficiary via the Society for Worldwide Interbank Financial
Telecommunication message or overnight courier, or any other commercially reasonable means of communicating with a beneficiary.

 

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3.8           Cash
Collateral.

 

(a)           Certain
Credit Support Events.  Upon the written request of the Administrative Agent or the Letter of Credit Issuer, if (i) as of
the L/C Facility Maturity Date, any L/C Obligation for any reason remains outstanding, (ii) the Borrower shall be required to provide
Cash Collateral pursuant to Section 11.13, or (iii) the provisions of Section 2.16(a)(v) are in effect,
the Borrower shall immediately (in the case of clause (ii) above) or within one Business Day (in all other cases) following
any written request by the Administrative Agent or the Letter of Credit Issuer, provide Cash Collateral in an amount not less than the
applicable Minimum Collateral Amount (determined in the case of Cash Collateral provided pursuant to clause (iii) above,
after giving effect to Section 2.16(a)(iv) and any Cash Collateral provided by the Defaulting Lender).

 

(b)           Grant
of Security Interest.  The Borrower, and to the extent provided by any Defaulting Lender, such Defaulting Lender, hereby grant
to (and subject to the control of) the Administrative Agent, for the benefit of the Administrative Agent, the Letter of Credit Issuer
and the Revolving Credit Lenders, and agree to maintain, a first priority security interest in all such cash, deposit accounts and all
balances therein as described in Section 3.8(a), and all other property so provided as collateral pursuant hereto, and in
all proceeds of the foregoing, all as security for the obligations to which such Cash Collateral may be applied pursuant to Section 3.8(c). 
If at any time the Administrative Agent determines that Cash Collateral is subject to any right or claim of any Person other than the
Administrative Agent or the Letter of Credit Issuer as herein provided, other than Permitted Liens, or that the total amount of such Cash
Collateral is less than the Minimum Collateral Amount (including, without limitation, as a result of exchange rate fluctuations), the
Borrower will, promptly upon written demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral
in an amount sufficient to eliminate such deficiency. Cash Collateral shall be maintained in blocked, interest bearing deposit accounts
with the Administrative Agent. The Borrower shall pay on demand therefor from time to time all customary account opening, activity and
other administrative fees and charges in connection with the maintenance and disbursement of Cash Collateral.

 

(c)           Application. 
Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided under any of this Section 3.8
or Sections 2.16, 5.2, or 11.13 in respect of Letters of Credit shall be held and applied to the satisfaction
of the specific L/C Obligations, obligations to fund participations therein (including, as to Cash Collateral provided by a Defaulting
Lender, any interest accrued on such obligation) and other obligations for which the Cash Collateral was so provided, prior to any other
application of such property as may otherwise be provided for herein.

 

(d)           Cash
Collateral (or the appropriate portion thereof) provided to reduce Fronting Exposure or to secure other obligations shall be released
promptly following (i) the elimination of the applicable Fronting Exposure or other obligations giving rise thereto (including by
the termination of Defaulting Lender status of the applicable Lender (or, as appropriate, its assignee following compliance with Section 13.6(b)(ii))
or there is no longer existing an Event of Default) or (ii) the determination by the Administrative Agent and the Letter of Credit
Issuer that there exists excess Cash Collateral.

 

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

 

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3.10         Conflict
with Issuer Documents. In the event of any conflict between the terms hereof and the terms of any Issuer Document, the terms hereof
shall control and any grant of security interest in any Issuer Documents shall be void.

 

3.11         Letters
of Credit Issued for Restricted Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support
of any obligations of, or is for the account of, Holdings or a Restricted Subsidiary, the Borrower shall be obligated to reimburse the
Letter of Credit Issuer hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance
of Letters of Credit for the account of Holdings or any other Restricted Subsidiaries inures to the benefit of the Borrower and that
the Borrower’s business derives substantial benefits from the businesses of Holdings and the other Restricted Subsidiaries.

 

3.12         Provisions
Related to Extended Revolving Credit Commitments. If the Letter of Credit Expiration Date in respect of any tranche of Revolving
Credit Commitments occurs prior to the expiry date of any Letter of Credit, then (i) if consented to by the Letter of Credit Issuer
which issued such Letter of Credit, if one or more other tranches of Revolving Credit Commitments in respect of which the Letter of Credit
Expiration Date shall not have so occurred are then in effect, such Letters of Credit for which consent has been obtained shall automatically
be deemed to have been issued (including for purposes of the obligations of the Revolving Credit Lenders to purchase participations therein
and to make Revolving Credit Loans and payments in respect thereof pursuant to Sections 3.3 and 3.4) under (and ratably
participated in by Lenders pursuant to) the Revolving Credit Commitments in respect of such non-terminating tranches up to an aggregate
amount not to exceed the aggregate amount of the unutilized Revolving Credit Commitments thereunder at such time (it being understood
that no partial face amount of any Letter of Credit may be so reallocated) and (ii) to the extent not reallocated pursuant to immediately
preceding clause (i), the Borrower shall Cash Collateralize any such Letter of Credit in accordance with Section 3.8.
Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Letters of Credit may be reduced as agreed between
the Letter of Credit Issuer and the Borrower, without the consent of any other Person.

 

Section 4.               Fees

 

4.1           Fees.

 

(a)           Without
duplication, the Borrower agrees to pay to the Administrative Agent in Dollars, for the account of each Revolving Credit Lender (in each
case pro rata according to the respective Revolving Credit Commitments of all such Lenders), a commitment fee (the “Commitment
Fee”) for each day from the Closing Date to the Revolving Credit Termination Date. Each Commitment Fee shall be payable (x) quarterly
in arrears on the last Business Day of each March, June, September, and December (for the three-month period (or portion thereof)
ended on such day for which no payment has been received) and (y) on the Revolving Credit Termination Date (for the period ended
on such date for which no payment has been received pursuant to clause (x) above), and shall be computed for each day during
such period at a rate per annum equal to the Commitment Fee Rate in effect on such day on the Available Commitment in effect on such day.

 

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(b)           Without
duplication, the Borrower agrees to pay to the Administrative Agent in Dollars for the account of the Revolving Credit Lenders pro rata
on the basis of their respective Letter of Credit Exposure, a fee in respect of each Letter of Credit issued on the Borrower’s or
any of the other Restricted Subsidiaries’ behalf (the “Letter of Credit Fee”), for the period from the date of
issuance of such Letter of Credit to the termination date of such Letter of Credit computed at the per annum rate for each day equal to
the Applicable Margin for Term Benchmark Revolving Credit Loans less the Fronting Fee set forth in clause (d) below. Except
as provided below, such Letter of Credit Fees shall be due and payable (x) quarterly in arrears on the last Business Day of each
March, June, September, and December and (y) on the date upon which the Total Revolving Credit Commitment terminates and the
Letters of Credit Outstanding shall have been reduced to zero.

 

(c)           Without
duplication, the Borrower agrees to pay to the Administrative Agent in Dollars, for its own account, administrative agent fees as have
been previously agreed in writing or as may be agreed in writing from time to time.

 

(d)           Without
duplication, the Borrower agrees to pay to the Letter of Credit Issuer a fee in Dollars in respect of each Letter of Credit issued by
it to the Borrower (the “Fronting Fee”) (i) with respect to each commercial Letter of Credit, at the rate of 0.125%,
computed on the amount of such Letter of Credit, and (ii) with respect to each standby Letter of Credit, for the period from the
date of issuance of such Letter of Credit to the termination date of such Letter of Credit, computed at the rate for each day equal to
0.125% per annum on the average daily Stated Amount of such Letter of Credit (or at such other rate per annum as agreed in writing between
the Borrower and the Letter of Credit Issuer). Such Fronting Fees shall be due and payable (x) quarterly in arrears on the first
Business Day after the end of each of March, June, September and December and (y) on the date upon which the Total Revolving
Credit Commitment terminates and the Letters of Credit Outstanding shall have been reduced to zero.

 

(e)           Without
duplication, the Borrower agrees to pay directly to the Letter of Credit Issuer in Dollars upon each issuance or renewal of, drawing under,
and/or amendment of, a Letter of Credit issued by it such amount as shall at the time of such issuance or renewal of, drawing under, and/or
amendment be the processing charge that the Letter of Credit Issuer is customarily charging for issuances or renewals of, drawings under
or amendments of, letters of credit issued by it.

 

(f)            Notwithstanding
the foregoing, the Borrower shall not be obligated to pay any amounts to any Defaulting Lender pursuant to this Section 4.1.

 

4.2           Voluntary
Reduction of Revolving Credit Commitments. Upon at least two Business Days’ prior written notice to the Administrative Agent
at the Administrative Agent’s Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), the
Borrower shall have the right, without premium or penalty, on any day, permanently to terminate or reduce the Revolving Credit Commitments
in whole or in part; provided that (a) any such reduction shall apply proportionately and permanently to reduce the Revolving
Credit Commitment of each of the Lenders of any applicable Class, except that (i) notwithstanding the foregoing, in connection with
the establishment on any date of any Extended Revolving Credit Commitments pursuant to Section 2.14(g), the Revolving Credit
Commitments of any one or more Lenders providing any such Extended Revolving Credit Commitments on such date shall be reduced in an amount
equal to the amount of Revolving Credit Commitments so extended on such date (provided that (x) after giving effect to any
such reduction and to the repayment of any Revolving Credit Loans made on such date, the Revolving Credit Exposure of any such Lender
does not exceed the Revolving Credit Commitment thereof and (y) for the avoidance of doubt, any such repayment of Revolving Credit
Loans contemplated by the preceding clause shall be made in compliance with the requirements of Section 5.3(a) with
respect to the ratable allocation of payments hereunder, with such allocation being determined after giving effect to any conversion
pursuant to Section 2.14(g) of Revolving Credit Commitments and Revolving Credit Loans into Extended Revolving Credit
Commitments and Extended Revolving Credit Loans pursuant to Section 2.14(g) prior to any reduction being made to the
Revolving Credit Commitment of any other Lender) and (ii) the Borrower may at its election permanently reduce the Revolving Credit
Commitment of a Defaulting Lender to $0 without affecting the Revolving Credit Commitments of any other Lender, (b) any partial
reduction pursuant to this Section 4.2 shall be in the amount of at least $5,000,000, and (c) after giving effect to
such termination or reduction and to any prepayments of the Loans made on the date thereof in accordance with this Agreement, the aggregate
amount of the Lenders’ Revolving Credit Exposures shall not exceed the Total Revolving Credit Commitment and the aggregate amount
of the Lenders’ Revolving Credit Exposures in respect of any Class shall not exceed the aggregate Revolving Credit Commitment
of such Class.

 

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4.3           Mandatory
Termination of Commitments.

 

(a)           [Reserved].

 

(b)           The
Revolving Credit Commitment shall terminate at 5:00 p.m. (New York City time) on the Revolving Credit Maturity Date.

 

(c)           The
Swingline Commitment shall terminate at 5:00 p.m. (New York City time) on the Swingline Maturity Date.

 

(d)           The
New Term Loan Commitment for any Series shall, unless otherwise provided in the applicable Joinder Agreement, terminate at 5:00 p.m. (New
York City time) on the Increased Amount Date for such Series.

 

Section 5.               Payments

 

5.1           Voluntary
Prepayments. (a) The Borrower shall have the right to prepay Loans, including Term Loans, Revolving Credit Loans, and Swingline
Loans, as applicable, in each case, other than as set forth in Section 5.1(b), without premium or penalty, in whole or in
part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative
Agent’s Office written notice of its intent to make such prepayment, the amount of such prepayment and (in the case of Term Benchmark
Loans) the specific Borrowing(s) pursuant to which made, which notice shall be given by the Borrower no later than 12:00 Noon (New
York City time) (i) in the case of Term Benchmark Loans, three Business Days prior to, (ii) in the case of ABR Loans (other
than Swingline Loans), one Business Day prior to or (ii) in the case of Swingline Loans, on, the date of such prepayment and shall
promptly be transmitted by the Administrative Agent to each of the Lenders or the Swingline Lender, as the case may be; (2) each
partial prepayment of (i) any Borrowing of Term Benchmark Loans shall be in a minimum amount of $5,000,000 and in multiples of $1,000,000
in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of $1,000,000 and in multiples of
$100,000 in excess thereof, and (iii) Swingline Loans shall be in a minimum amount of $500,000 and in multiples of $100,000 in excess
thereof, provided that no partial prepayment of Term Benchmark Loans made pursuant to a single Borrowing shall reduce the outstanding
Term Benchmark Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for such Term Benchmark
Loans, and (3) in the case of any prepayment of Term Benchmark Loans pursuant to this Section 5.1 on any day other than
the last day of an Interest Period applicable thereto, the Borrower shall, promptly after receipt of a written request by any applicable
Lender (which request shall set forth in reasonable detail the basis for requesting such amount), pay to the Administrative Agent for
the account of such Lender any amounts required pursuant to Section 2.11. Each prepayment in respect of any Term Loans pursuant
to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and
(b) applied to reduce Initial Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g),
Extended Term Loan Repayment Amounts, as the case may be, in each case, in such order as the Borrower may specify. At the Borrower’s
election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term
Loan or Revolving Credit Loan of a Defaulting Lender.

 

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(b)           In the event that,
on or prior to the six-month anniversary of the Sixth Amendment Effective Date, the Borrower (i) makes any prepayment of Initial
Term Loans in connection with any Repricing Transaction the primary purpose of which is to decrease the Effective Yield on such Initial
Term Loans or (ii) effects any amendment of this Agreement resulting in a Repricing Transaction the primary purpose of which is to
decrease the Effective Yield on the Initial Term Loans, the Borrower shall pay to the Administrative Agent, for the ratable account of
each of the applicable Lenders, (x) in the case of clause (i), a prepayment premium of 1.00% of the principal amount of the Initial
Term Loans being prepaid in connection with such Repricing Transaction and (y) in the case of clause (ii), an amount equal to 1.00%
of the aggregate amount of the applicable Initial Term Loans outstanding immediately prior to such amendment that are subject to an effective
pricing reduction pursuant to such Repricing Transaction.

 

5.2           Mandatory
Prepayments.

 

(a)           Term
Loan Prepayments.

 

(i)            On
each occasion that a Prepayment Event occurs, the Borrower shall, within three Business Days after receipt of the Net Cash Proceeds of
a Debt Incurrence Prepayment Event (other than one covered by clause (iii) below) and within ten Business Days after the occurrence
of any other Prepayment Event (or, in the case of Deferred Net Cash Proceeds, within ten Business Days after the Deferred Net Cash Proceeds
Payment Date), prepay, in accordance with clause (c) below, Term Loans with an equivalent principal amount equal to 100% of
the Net Cash Proceeds from such Prepayment Event; provided that, the percentage in this Section 5.2(a)(i) shall
be reduced to (A) 50% if the Consolidated Total Debt to Consolidated EBITDA Ratio on the date of prepayment (prior to giving effect
thereto but, at the election of the Borrower, giving effect to any prepayment described in Section 5.2(a)(ii)(y) below
and as certified by an Authorized Officer of the Borrower) is less than or equal to 3.25 to 1.00 but greater than 3.00 to 1.00 and (B) 0%
if the Consolidated Total Debt to Consolidated EBITDA Ratio on the date of prepayment (prior to giving effect thereto but, at the election
of the Borrower, giving effect to any prepayment described in Section 5.2(a)(ii)(y) below and as certified by an Authorized
Officer of the Borrower) is less than or equal to 3.00 to 1.00; provided, further, that with respect to the Net Cash Proceeds of an Asset
Sale Prepayment Event, Casualty Event or Permitted Sale Leaseback, in each case solely to the extent with respect to any Collateral, the
Borrower may use a portion of such Net Cash Proceeds to prepay or repurchase Permitted Other Indebtedness (and with such prepaid or repurchased
Permitted Other Indebtedness permanently extinguished) with a Lien on the Collateral ranking pari passu with the Liens securing
the Obligations to the extent any applicable Permitted Other Indebtedness Document requires the issuer of such Permitted Other Indebtedness
to prepay or make an offer to purchase such Permitted Other Indebtedness with the proceeds of such Prepayment Event, in each case in an
amount not to exceed the product of (x) the amount of such Net Cash Proceeds multiplied by (y) a fraction, the numerator
of which is the outstanding principal amount of the Permitted Other Indebtedness with a Lien on the Collateral ranking pari passu
with the Liens securing the Obligations and with respect to which such a requirement to prepay or make an offer to purchase exists and
the denominator of which is the sum of the outstanding principal amount of such Permitted Other Indebtedness and the outstanding principal
amount of Term Loans.

 

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(ii)           Not
later than ten Business Days after the date on which financial statements are required to be delivered pursuant to Section 9.1(a) for
any fiscal year (commencing with and including the fiscal year ending December 31, 2014), if, and solely to the extent, Excess Cash
Flow for such fiscal year exceeds $15,000,000, the Borrower shall prepay (or cause to be prepaid), in accordance with clause (c) below,
Term Loans with a principal amount equal to (x) 50% of Excess Cash Flow for such fiscal year; provided that (A) the percentage
in this Section 5.2(a)(ii) shall be reduced to 25% if the Consolidated Total Debt to Consolidated EBITDA Ratio on the
date of prepayment (prior to giving effect thereto but giving effect to any prepayment described in clause (y) below and as
certified by an Authorized Officer of Holdings) for the most recent Test Period ended prior to such prepayment date is less than or equal
to 3.25 to 1.00 but greater than 3.00 to 1.00 and (B) no payment of any Term Loans shall be required under this Section 5.2(a)(ii) if
the Consolidated Total Debt to Consolidated EBITDA Ratio on the date of prepayment (prior to giving effect thereto but giving effect to
any prepayment described in clause (y) below and as certified by an Authorized Officer of Holdings) for the most recent Test
Period ended prior to such prepayment date is less than or equal to 3.00 to 1.00, minus (y) (i) the principal amount of Term
Loans voluntarily prepaid pursuant to Section 5.1 or Section 13.6 (in each case, including purchases of the
Loans by Holdings and its Subsidiaries at or below par offered to all Lenders and Dutch auctions, in which case the amount of voluntary
prepayments of Loans shall be deemed not to exceed the actual purchase price of such Loans at or below par) during such fiscal year or
after such fiscal year and prior to the date of the required Excess Cash Flow payment, and (ii) to the extent accompanied by permanent
reduction of commitments, optional reductions of Revolving Credit Commitments, Extended Revolving Credit Commitments or Incremental Revolving
Credit Commitment, as applicable, Revolving Credit Loans, Swingline Loans, Extended Revolving Credit Loans, Incremental Revolving
Credit Loans, in each case, other than to the extent any such prepayment is funded with the proceeds of Funded Debt.

 

(iii)          On
each occasion that Permitted Other Indebtedness is issued or incurred pursuant to Section 10.1(w), the Borrower shall within
three Business Days of receipt of the Net Cash Proceeds of such Permitted Other Indebtedness prepay, in accordance with clause (c) below,
Term Loans with a principal amount equal to 100% of the Net Cash Proceeds from such issuance or incurrence of Permitted Other Indebtedness.

 

(iv)          Notwithstanding
any other provisions of this Section 5.2, (A) to the extent that any or all of the Net Cash Proceeds of any Prepayment
Event by a Subsidiary that is not a Credit Party giving rise to a prepayment pursuant to clause (i) above (a “Non-Credit
Party Prepayment Event”) or Excess Cash Flow are prohibited or delayed by any Requirements of Law from being repatriated to
the Credit Parties, an amount equal to the portion of such Net Cash Proceeds or Excess Cash Flow so affected will not be required to be
applied to repay Loans at the times provided in clauses (i) and (ii) above, as the case may be, but only
so long, as the applicable Requirements of Law will not permit repatriation to the Credit Parties (the Credit Parties hereby agreeing
to cause the applicable Subsidiary to promptly take all actions reasonably required by the applicable Requirements of Law to permit repatriation),
and once a repatriation of any of such affected Net Cash Proceeds or Excess Cash Flow is permitted under the applicable Requirements of
Law, an amount equal to such Net Cash Proceeds or Excess Cash Flow will be promptly (and in any event not later than ten Business Days
after such repatriation is permitted) applied (net of any taxes that would be payable or reserved against if such amounts were actually
repatriated whether or not they are repatriated) to the repayment of the Loans pursuant to clauses (i) and (ii) above,
as applicable, and (B) to the extent that the Borrower has determined in good faith that repatriation of any of or all the Net Cash
Proceeds of any Non-Credit Party Prepayment Event or Excess Cash Flow would have a material adverse tax consequence with respect to such
Net Cash Proceeds or Excess Cash Flow, an amount equal to the Net Cash Proceeds or Excess Cash Flow so affected may be retained by the
applicable Subsidiary; provided that in the case of this clause (B), on or before the date on which any Net Cash Proceeds
from any Non-Credit Party Prepayment Event so retained would otherwise have been required to be applied to reinvestments or prepayments
pursuant to clause (i) above or, in the case of Excess Cash Flow, a date on or before the date that is eighteen months
after the date an amount equal to such Excess Cash Flow would have so required to be applied to prepayments pursuant to clause (ii) above
unless previously actually repatriated in which case such repatriated Excess Cash Flow shall have been promptly applied to the repayment
of the Term Loans pursuant to clause (ii) above, (x) the Borrower shall apply an amount equal to such Net Cash Proceeds
or Excess Cash Flow to such reinvestments or prepayments as if such Net Cash Proceeds or Excess Cash Flow had been received by the Credit
Parties rather than such Subsidiary, less the amount of any taxes that would have been payable or reserved against if such Net Cash Proceeds
or Excess Cash Flow had been repatriated (or, if less, the Net Cash Proceeds or Excess Cash Flow that would be calculated if received
by such Foreign Subsidiary) or (y) such Net Cash Proceeds or Excess Cash Flow shall be applied to the repayment of Indebtedness of
a Subsidiary that is not a Credit Party. For the avoidance of doubt, nothing in this Agreement, including Section 5 shall
be construed to require any Subsidiary to repatriate cash.

 

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(b)            Repayment
of Revolving Credit Loans. If on any date the aggregate amount of the Lenders’ Revolving Credit Exposures in respect of any
Class of Revolving Loans for any reason exceeds 100% of the Revolving Credit Commitment of such Class then in effect, the Borrower
shall forthwith repay on such date Revolving Loans of such Class in an amount equal to such excess. If after giving effect to the
prepayment of all outstanding Revolving Loans of such Class, the Revolving Credit Exposures of such Class exceed the Revolving Credit
Commitment of such Class then in effect, the Borrower shall Cash Collateralize the Letters of Credit Outstanding in relation to
such Class to the extent of such excess.

 

(c)            Application
to Repayment Amounts. Subject to Section 5.2(f), each prepayment of Term Loans required by Section 5.2(a)(i) or
(ii) shall be allocated pro rata among the Initial Term Loans, the New Term Loans and the Extended Term Loans based on the
applicable remaining Repayment Amounts due thereunder and shall be applied within each Class of Term Loans in respect of such Term
Loans in direct order of maturity thereof or as otherwise directed by the Borrower; provided that if any Class of Extended
Term Loans have been established hereunder, the Borrower may allocate such prepayment in its sole discretion to the Term Loans of the
Existing Term Loan Class, if any, from which such Extended Term Loans were converted (except, as to Term Loans made pursuant to a Joinder
Agreement, as otherwise set forth in such Joinder Agreement, or as to a Replacement Term Loan). Subject to Section 5.2(f),
with respect to each such prepayment, the Borrower will, not later than the date specified in Section 5.2(a) for making
such prepayment, give the Administrative Agent written notice which shall include a calculation of the amount of such prepayment to be
applied to each Class of Term Loans requesting that the Administrative Agent provide notice of such prepayment to each Initial Term
Loan Lender, New Term Loan Lender, or Extended Term Loan Lender, as applicable.

 

(d)            Application
to Term Loans. With respect to each prepayment of Term Loans required by Section 5.2(a), the Borrower may, if applicable,
designate the Types of Loans that are to be prepaid and the specific Borrowing(s) pursuant to which made; provided, that
if any Lender has provided a Rejection Notice in compliance with Section 5.2(f), such prepayment shall be applied with respect
to the Term Loans to be prepaid on a pro rata basis across all outstanding Types of such Term Loans in proportion to the percentage of
such outstanding Term Loans to be prepaid represented by each such Class. In the absence of a Rejection Notice or a designation by the
Borrower as described in the preceding sentence, the Administrative Agent shall, subject to the above, make such designation in its reasonable
discretion with a view, but no obligation, to minimize breakage costs owing under Section 2.11.

 

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(e)            Application
to Revolving Credit Loans. With respect to each prepayment of Revolving Credit Loans, the Borrower may designate (i) the Types
of Loans that are to be prepaid and the specific Borrowing(s) pursuant to which made and (ii) the Revolving Loans to be prepaid,
provided that (y) each prepayment of any Loans made pursuant to a Borrowing shall be applied pro rata among such Loans; and (z) notwithstanding
the provisions of the preceding clause (y), no prepayment of Revolving Loans shall be applied to the Revolving Credit Loans of
any Defaulting Lender unless otherwise agreed in writing by the Borrower. In the absence of a designation by the Borrower as described
in the preceding sentence, the Administrative Agent shall, subject to the above, make such designation in its reasonable discretion with
a view, but no obligation, to minimize breakage costs owing under Section 2.11.

 

(f)             Rejection
Right. Holdings or the Borrower shall notify the Administrative Agent in writing of any mandatory prepayment of Term Loans required
to be made pursuant to Section 5.2(a) at least three Business Days prior to the date of such prepayment. Each such notice
shall specify the date of such prepayment and provide a reasonably detailed calculation of the amount of such prepayment. The Administrative
Agent will promptly notify each Lender holding Term Loans of the contents of such prepayment notice and of such Lender’s pro rata
share of the prepayment. Each Term Loan Lender may reject all (but not less than all) of its pro rata share of any mandatory prepayment
other than any such mandatory prepayment with respect to a Debt Incurrence Prepayment Event under Section 5.2(a)(i) or
Permitted Other Indebtedness under Section 5.2(a)(iii) (such declined amounts, the “Declined Proceeds”)
of Term Loans required to be made pursuant to Section 5.2(a) by providing written notice (each, a “Rejection
Notice”) to the Administrative Agent no later than 5:00 p.m. (New York City time) one Business Day after the date of such
Lender’s receipt of notice from the Administrative Agent regarding such prepayment. If a Lender fails to deliver a Rejection Notice
to the Administrative Agent within the time frame specified above, any such failure will be deemed an acceptance of the total amount
of such mandatory prepayment of Term Loans. Any Declined Proceeds shall be retained by the Borrower (“Retained Declined Proceeds”).

 

5.3            Method
and Place of Payment.

 

(a)            Except
as otherwise specifically provided in Section 5.4 with respect to taxes, all payments under this Agreement shall be made
by the Borrower, without set-off, counterclaim or deduction of any kind, to the Administrative Agent for the ratable account of the Lenders
entitled thereto (or, in the case of the Swingline Loans to the Swingline Lender) or the Letter of Credit Issuer entitled thereto, as
the case may be, not later than 2:00 p.m. (New York City time), in each case, on the date when due and shall be made in immediately
available funds at the Administrative Agent’s Office or at such other office as the Administrative Agent shall specify for such
purpose by notice to the Borrower (or, in the case of the Swingline Loans, at such office as the Swingline Lender shall specify for such
purpose by notice to the Borrower), it being understood that written or facsimile notice by the Borrower to the Administrative Agent
to make a payment from the funds in the Borrower’s account at the Administrative Agent’s Office shall constitute the making
of such payment to the extent of such funds held in such account. All repayments or prepayments of any Loans (whether of principal, interest
or otherwise) hereunder shall be made in the currency in which such Loans are denominated and all other payments under each Credit Document
shall, unless otherwise specified in such Credit Document, be made in Dollars. The Administrative Agent will thereafter cause to be distributed
on the same day (if payment was actually received by the Administrative Agent prior to 2:00 p.m. (New York City time) or, otherwise,
on the next Business Day in the Administrative Agent’s sole discretion) like funds relating to the payment of principal or interest
or Fees ratably to the Lenders entitled thereto.

 

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(b)            Any
payments under this Agreement that are made later than 2:00 p.m. (New York City time) may be deemed to have been made on the next
succeeding Business Day in the Administrative Agent’s sole discretion for purposes of calculating interest thereon (or, in the
case of the Swingline Loans, at the Swingline Lender’s sole discretion). Except as otherwise provided herein, whenever any payment
to be made hereunder shall be stated to be due on a day that is not a Business Day, the due date thereof shall be extended to the next
succeeding Business Day and, with respect to payments of principal, interest shall be payable during such extension at the applicable
rate in effect immediately prior to such extension.

 

5.4            Net
Payments.

 

(a)            Payments
Free of Taxes; Obligation to Withhold; Payments on Account of Taxes.

 

 (i)            Any
and all payments by or on account of any obligation of any Credit Party hereunder or under any other Credit Document shall to the extent
permitted by applicable laws be made free and clear of and without reduction or withholding for any Taxes.

 

 (ii)           If
any Withholding Agent shall be required by applicable law to withhold or deduct any Taxes from any payment, then (A) such Withholding
Agent shall withhold or make such deductions as are reasonably determined by such Withholding Agent to be required by applicable law,
(B) such Withholding Agent shall timely pay the full amount withheld or deducted to the relevant Governmental Authority, and (C) to
the extent that the withholding or deduction is made on account of Indemnified Taxes or Other Taxes, the sum payable by the applicable
Credit Party shall be increased as necessary so that after any required withholding or deductions have been made (including withholding
or deductions applicable to additional sums payable under this Section 5.4) each Lender (or, in the case of a payment to
the Administrative Agent for its own account, the Administrative Agent) receives an amount equal to the sum it would have received had
no such withholding or deductions been made.

 

 (iii)          For
purposes of determining withholding Taxes imposed under FATCA, from and after the Sixth Amendment Effective Date, the Borrower and the
Administrative Agent shall treat (and the Lenders hereby authorize the Administrative Agent to treat) each of this Agreement and the
Loans issued pursuant thereto as not qualifying as a “grandfathered obligation” within the meaning of Section 1.1471-2(b)(2)(i) of
the United States Treasury Regulations.

 

(b)            Payment
of Other Taxes by the Borrower. Without limiting the provisions of subsection (a) above, the Borrower shall timely pay
any Other Taxes to the relevant Governmental Authority in accordance with applicable law or timely reimburse the Administrative Agent
or any Lender for the payment of any Other Taxes.

 

(c)            Tax
Indemnifications. Without limiting the provisions of subsection (a) or (b) above, the Borrower shall indemnify
the Administrative Agent and each Lender, and shall make payment in respect thereof within 15 days after receipt of written demand therefor,
for the full amount of Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable
to amounts payable under this Section 5.4) payable or paid by the Administrative Agent or such Lender, as the case may be,
and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly
or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of any such payment or liability
(along with a written statement setting forth in reasonable detail the basis and calculation of such amounts) delivered to the Borrower
by a Lender, or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error. If
the Borrower reasonably believes that any such Indemnified Taxes or Other Taxes were not correctly or legally asserted, the Administrative
Agent and/or each affected Lender will use reasonable efforts to cooperate with the Borrower in pursuing a refund of such Indemnified
Taxes or Other Taxes so long as such efforts would not, in the sole determination of the Administrative Agent or affected Lender, result
in any additional costs, expenses or risks or be otherwise disadvantageous to it.

 

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(d)            Evidence
of Payments. After any payment of Taxes by any Credit Party or the Administrative Agent to a Governmental Authority as provided in
this Section 5.4, such Credit Party shall deliver to the Administrative Agent the original or a certified copy of a receipt
issued by such Governmental Authority evidencing such payment, a copy of any return required by laws to report such payment or other
evidence of such payment reasonably satisfactory to the Administrative Agent.

 

(e)            Status
of Lenders and Tax Documentation.

 

 (i)            Each
Lender shall deliver to the Borrower and to the Administrative Agent, at such time or times reasonably requested by the Borrower or the
Administrative Agent, such properly completed and executed documentation prescribed by applicable laws or by the taxing authorities of
any jurisdiction and such other reasonably requested information as will permit the Borrower or the Administrative Agent, as the case
may be, to determine (A) whether or not any payments made hereunder or under any other Credit Document are subject to Taxes, (B) if
applicable, the required rate of withholding or deduction, and (C) such Lender’s entitlement to any available exemption from,
or reduction of, applicable Taxes in respect of any payments to be made to such Lender by any Credit Party pursuant to any Credit Document
or otherwise to establish such Lender’s status for withholding tax purposes in the applicable jurisdiction. Any documentation and
information required to be delivered by a Lender pursuant to this Section 5.4(e) (including any specific documentation
set forth in subsection (ii) below) shall be delivered by such Lender (i) on or prior to the Closing Date (or on or
prior to the date it becomes a party to this Agreement), (ii) on or before any date on which such documentation expires or becomes
obsolete or invalid, (iii) promptly after the occurrence of any change in the Lender’s circumstances requiring a change in
the most recent documentation previously delivered by it to the Borrower and the Administrative Agent, and (iv) from time to time
thereafter if reasonably requested by the Borrower or the Administrative Agent, and each such Lender shall promptly notify in writing
the Borrower and the Administrative Agent if such Lender is no longer legally eligible to provide any documentation previously provided.
Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation
(other than such documentation set forth in Section 5.4(e)(ii)(A), (B)(1), (B)(2), (B)(3), (B)(4),
(C) and (D) below) shall not be required if in such Lender’s or the Administrative Agent’s reasonable
judgment such completion, execution, or submission would subject such Lender or the Administrative Agent to any material unreimbursed
cost or expense or would materially prejudice the legal or commercial position of such Lender or the Administrative Agent.

 

 (ii)           Without
limiting the generality of the foregoing:

 

		(A)	any
                                            Lender that is a “United States person” within the meaning of Section 7701(a)(30)
                                            of the Code (a “U.S. Lender”) shall deliver to the Borrower and the Administrative
                                            Agent executed originals or copies of Internal Revenue Service Form W-9 or such other
                                            documentation or information prescribed by applicable laws or reasonably requested by the
                                            Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent,
                                            as the case may be, to determine whether or not such Lender is subject to backup withholding
                                            or information reporting requirements;

 

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		(B)	each
                                            Non-U.S. Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower
                                            and the Administrative Agent (in such number of copies as shall be requested by the Recipient)
                                            whichever of the following is applicable:

 

(1)            executed
originals or copies of Internal Revenue Service Form W-8BEN or Form W-8BEN-E (or any applicable successor form) claiming eligibility
for benefits of an income tax treaty to which the United States is a party;

 

(2)            executed
originals or copies of Internal Revenue Service Form W-8ECI (or any successor form thereto);

 

(3)            in
the case of a Non-U.S. Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code,
(x) a certificate, substantially in the form of Exhibit J-1, J-2, J-3 or J-4, as applicable, (a
 “Non-Bank Tax Certificate”), to the effect that such Non-U.S. Lender is not (A) a “bank” within the
meaning of Section 881(c)(3)(A) of the Code, (B) a “10-percent shareholder” of the Borrower within the meaning
of Section 881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described in Section 881(c)(3)(C) of
the Code and that no payments under any Credit Document are effectively connected with such Non-U.S. Lender’s conduct of a United
States trade or business and (y) executed originals or copies of Internal Revenue Service Form W-8BEN or Form W-8BEN-E
(or any applicable successor form);

 

(4)            where
such Non-U.S. Lender is a partnership (for U.S. federal income tax purposes) or otherwise not a beneficial owner (e.g., where such Non-U.S.
Lender has sold a participation), Internal Revenue Service Form W 8IMY (or any successor thereto) and all required supporting
documentation (including, where one or more of the underlying beneficial owner(s) is claiming the benefits of the portfolio interest
exemption, a Non Bank Tax Certificate (substantially in the form of Exhibit J-2 or Exhibit J-3, as applicable) of such beneficial
owner(s)) (provided that, if the Non U.S. Lender is a partnership and not a participating Lender, the Non Bank Tax Certificate(s) (substantially
in the form of Exhibit J-4) may be provided by the Non U.S. Lender on behalf of the direct or indirect partner(s)); or

 

(5)            executed
originals of any other form prescribed by applicable laws as a basis for claiming exemption from or a reduction in U.S. federal withholding
tax together with such supplementary documentation as may be prescribed by applicable laws to permit the Borrower or the Administrative
Agent to determine the withholding or deduction required to be made;

 

		(C)	each
                                            Lender shall deliver to the Borrower and the Administrative Agent at the time or times prescribed
                                            by law and at such time or times reasonably requested by the Borrower or the Administrative
                                            Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of
                                            the Code) and such additional documentation reasonably requested by the Borrower or the Administrative
                                            Agent as may be necessary for the Borrower and the Administrative Agent to comply with their
                                            obligations under FATCA, to determine whether such Lender has complied with such Lender’s
                                            obligations under FATCA or to determine the amount, if any, to deduct and withhold from such
                                            payment. Solely for purposes of this clause (C), “FATCA” shall include any amendments
                                            made to FATCA after the date of this Agreement; and

 

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		(D)	if
                                            the Administrative Agent is a “United States person” (as defined in Section 7701(a)(30)
                                            of the Code), it shall provide the Borrower with two duly completed copies of Internal Revenue
                                            Service Form W-9. If the Administrative Agent is not a “United States person”
                                            (as defined in Section 7701(a)(30) of the Code), it shall provide an original Internal
                                            Revenue Service Form W-8IMY certifying on Part I and Part VI of such Form W-8IMY
                                            that it is a U.S. branch that has agreed to be treated as a United States person for U.S.
                                            federal withholding tax purposes with respect to payments received by it from the Borrower.
                                            The Administrative Agent shall promptly notify the Borrower at any time it determines that
                                            it is no longer in a position to provide the certification described in the prior sentence.

 

 (iii)          Notwithstanding
anything to the contrary in this Section 5.4, no Lender or the Administrative Agent shall be required to deliver any documentation
that it is not legally eligible to deliver.

 

(f)             Treatment
of Certain Refunds. If the Administrative Agent or any Lender determines, in its sole discretion exercised in good faith, that it
has received a refund of any Indemnified Taxes or Other Taxes as to which it has been indemnified by any Credit Party or with respect
to which any Credit Party has paid additional amounts pursuant to this Section 5.4, the Administrative Agent or such Lender
(as applicable) shall promptly pay to the Borrower an amount equal to such refund (but only to the extent of indemnity payments made,
or additional amounts paid, by the Credit Parties under this Section 5.4 with respect to the Indemnified Taxes or Other Taxes
giving rise to such refund), net of all out-of-pocket expenses (including any Taxes) incurred by the Administrative Agent or such Lender,
as the case may be, and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund);
provided that the Borrower, upon the request of the Administrative Agent or such Lender, agrees to repay the amount paid over
to the Borrower (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Administrative
Agent or such Lender in the event the Administrative Agent or such Lender is required to repay such refund to such Governmental Authority.
In such event, the Administrative Agent or such Lender, as the case may be, shall, at the Borrower’s request, provide the Borrower
with a copy of any notice of assessment or other evidence of the requirement to repay such refund received from the relevant taxing authority
(provided that the Administrative Agent or such Lender may delete any information therein that it deems confidential). Notwithstanding
anything to the contrary in this paragraph (f), in no event will the Administrative Agent or any Lender be required to pay any amount
to an indemnifying party pursuant to this paragraph (f) the payment of which would place the Administrative Agent or any Lender
in a less favorable net after-Tax position than the Administrative Agent or any Lender would have been in if the Tax subject to indemnification
and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts
with respect to such Tax had never been paid. This subsection shall not be construed to require the Administrative Agent or any Lender
to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to any Credit Party or
any other Person.

 

(g)            For
the avoidance of doubt, for purposes of this Section 5.4, the term “Lender” includes any Letter of Credit Issuer
and the Swingline Lender and the term “applicable law” includes FATCA.

 

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(h)            Each
party’s obligations under this Section 5.4 shall survive the resignation or replacement of the Administrative Agent
or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or
discharge of all obligations under the Credit Documents.

 

5.5            Computations
of Interest and Fees.

 

(a)            Interest
computed by reference to the Term SOFR Rate hereunder shall be computed on the basis of a year of 360 days. Interest computed by reference
to the ABR at times when the ABR is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap
year). In each case interest shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
All interest hereunder on any Loan shall be computed on a daily basis based upon the outstanding principal amount of such Loan as of
the applicable date of determination. The applicable ABR or Term SOFR Rate shall be determined by the Administrative Agent, and such
determination shall be conclusive absent manifest error.

 

(b)            Fees
and the average daily Stated Amount of Letters of Credit shall be calculated on the basis of a 360-day year for the actual days elapsed.

 

5.6            Limit
on Rate of Interest.

 

(a)            No
Payment Shall Exceed Lawful Rate. Notwithstanding any other term of this Agreement, the Borrower shall not be obliged to pay any
interest or other amounts under or in connection with this Agreement or otherwise in respect of the Obligations in excess of the amount
or rate permitted under or consistent with any applicable law, rule or regulation.

 

(b)            Payment
at Highest Lawful Rate. If the Borrower is not obliged to make a payment that it would otherwise be required to make, as a result
of Section 5.6(a), the Borrower shall make such payment to the maximum extent permitted by or consistent with applicable
laws, rules, and regulations.

 

(c)            Adjustment
if Any Payment Exceeds Lawful Rate. If any provision of this Agreement or any of the other Credit Documents would obligate the Borrower
to make any payment of interest or other amount payable to any Lender in an amount or calculated at a rate that would be prohibited by
any applicable law, rule or regulation, then notwithstanding such provision, such amount or rate shall be deemed to have been adjusted
with retroactive effect to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by law, such adjustment
to be effected, to the extent necessary, by reducing the amount or rate of interest required to be paid by the Borrower to the affected
Lender under Section 2.8; provided that to the extent lawful, the interest or other amounts that would have been payable
but were not payable as a result of the operation of this Section shall be cumulated and the interest payable to such Lender in
respect of other Loans or periods shall be increased (but not above such maximum rate or rate of interest therefor) until such cumulated
amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment, shall have been received by such
Lender.

 

Notwithstanding the foregoing,
and after giving effect to all adjustments contemplated thereby, if any Lender shall have received from the Borrower an amount in excess
of the maximum permitted by any applicable law, rule or regulation, then the Borrower shall be entitled, by notice in writing to
the Administrative Agent to obtain reimbursement from that Lender in an amount equal to such excess, and pending such reimbursement,
such amount shall be deemed to be an amount payable by that Lender to the Borrower.

 

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Section 6.                Conditions
Precedent to Initial Borrowing

 

The initial Borrowing under
this Agreement was subject to the satisfaction of conditions precedent that were satisfied as of December 18, 2013. The amendment
of this Agreement under the Sixth Amendment is subject to the satisfaction of the following conditions precedent, except as otherwise
agreed between Holdings and the Administrative Agent.

 

6.1            Credit
Documents.

 

The Administrative Agent
(or its counsel) shall have received the Sixth Amendment, executed and delivered by a duly Authorized Officer of Holdings and the Borrower
and the Lenders;

 

6.2            [Reserved].

 

6.3            Legal
Opinions. The Administrative Agent (or its counsel) shall have received the executed legal opinion, in customary form, of Simpson
Thacher & Bartlett LLP, counsel to the Credit Parties, with respect to the Sixth Amendment and the transactions contemplated
thereby. Holdings and the Borrower hereby instruct and agree to instruct the other Credit Parties to have such counsel deliver such legal
opinion.

 

6.4            Closing
Certificates. The Administrative Agent (or its counsel) shall have received a certificate of each of Holdings and the Borrower, dated
the Sixth Amendment Effective Date, substantially in the form of Exhibit E, with appropriate insertions, executed by the
President or any Vice President (or in the case of Holdings any Director or authorized agent of Holdings) and the Secretary or any Assistant
Secretary of Holdings or the Borrower (or in the case of Holdings any Director or authorized agent of Holdings), as applicable, and attaching
the documents referred to in Section 6.5.

 

6.5            Authorization
of Proceedings of Holdings and the Borrower; Corporate Documents. The Administrative Agent shall have received (i) a copy of
the resolutions of the board of directors or other managers of Holdings and the Borrower (or a duly authorized committee thereof) authorizing
(a) the execution, delivery, and performance of the Sixth Amendment (and any agreements relating thereto) to which it is a party
and (b) in the case of the Borrower, the extensions of credit contemplated hereunder, (ii) the Certificate of Incorporation
and By-Laws, Certificate of Formation and Operating Agreement or other comparable organizational documents, as applicable, of Holdings
and the Borrower, and (iii) signature and incumbency certificates (or other comparable documents evidencing the same) of the Authorized
Officers of Holdings and the Borrower executing the Sixth Amendment.

 

6.6            Fees.
The Agents and Lenders shall have received, substantially simultaneously with the Sixth Amendment, fees and, to the extent invoiced at
least three business days prior to the Sixth Amendment Effective Date (except as otherwise reasonably agreed by the Borrower) expenses
in the amounts previously agreed in writing to be received on the Sixth Amendment Effective Date.

 

6.7            Representations
and Warranties. On the Closing Date, the representations in Section 8 shall be true and correct in all material respects.

 

6.8            Solvency
Certificate. On the Sixth Amendment Effective Date, the Administrative Agent shall have received a certificate from the Chief Executive
Officer, President, the Chief Financial Officer, the Treasurer, the Vice President-Finance, a Director, a Manager, or any other senior
financial officer of Holdings or the Borrower to the effect that after giving effect to the consummation of the Transactions, Holdings
on a consolidated basis with the Restricted Subsidiaries is Solvent.

 

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6.9            Patriot
Act. (i) The Joint Lead Arrangers and Bookrunners shall have received at least two days prior to the Sixth Amendment Effective
Date, such documentation and information as is reasonably requested in writing at least seven Business Days prior to the Sixth Amendment
Effective Date by the Administrative Agent about the Credit Parties to the extent the Administrative Agent and Holdings in good faith
mutually agree is required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and
regulations, including, without limitation, the Patriot Act and (ii) to the extent the Borrower qualifies as a “legal entity
customer” under the Beneficial Ownership Regulation, at least five days prior to the Sixth Amendment Effective Date, any Joint
Lead Arrangers and Bookrunner that has requested, in a written notice to the Borrower at least 10 days prior to the Sixth Amendment Effective
Date, a Beneficial Ownership Certification in relation to the Borrower shall have received such Beneficial Ownership Certification.

 

6.10          Financial
Statements. The Joint Lead Arrangers and Bookrunners shall have received the Historical Financial Statements.

 

6.11          No
Material Adverse Effect. Since September 30, 2021, there shall not have occurred any change, event, circumstance or development
that shall have had or would reasonably be likely to have a Material Adverse Effect.

 

For purposes of determining compliance with the
conditions specified in Section 6 on the Closing Date, each Lender that has signed this Agreement shall be deemed to have consented
to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by
or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed
Closing Date specifying its objection thereto. For purposes of determining compliance with the conditions specified in Section 6
on the Sixth Amendment Effective Date, each Lender that has signed the Sixth Amendment shall be deemed to have consented to, approved
or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable
or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Sixth Amendment
Effective Date specifying its objection thereto.

 

Section 7.                Conditions
Precedent to All Credit Events

 

Subject to Section 1.12,
the agreement of each Lender to make any Loan requested to be made by it on any date, including any New Term Loans and/or any Replacement
Term Loans (excluding Mandatory Borrowings and Revolving Credit Loans required to be made by the Revolving Credit Lenders in respect
of Unpaid Drawings pursuant to Sections 3.3 and 3.4) and the obligation of the Letter of Credit Issuer to issue Letters
of Credit on any date, is subject to the satisfaction (or waiver) of the following conditions precedent:

 

7.1            No
Default; Representations and Warranties. At the time of each Credit Event and also after giving effect thereto (other than any Credit
Event on the Closing Date or pursuant to any Loan made pursuant to Section 2.14 or 2.15 (which shall be subject to
the applicable terms of Section 2.14 or 2.15, as applicable) (a) no Default or Event of Default shall have occurred
and be continuing and (b) all representations and warranties made by any Credit Party contained herein or in the other Credit Documents
shall be true and correct in all material respects (provided that any such representations and warranties which are qualified
by materiality, material adverse effect or similar language shall be true and correct in all respects) with the same effect as though
such representations and warranties had been made on and as of the date of such Credit Event (except where such representations and warranties
expressly relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material
respects (provided that any such representations and warranties which are qualified by materiality, material adverse effect or
similar language shall be true and correct in all respects) as of such earlier date).

 

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7.2            Notice
of Borrowing; Letter of Credit Request.

 

(a)            Prior
to the making of each Term Loan after the Closing Date, the Administrative Agent shall have received a Notice of Borrowing meeting the
requirements of Section 2.3.

 

(b)            Prior
to the making of each Revolving Credit Loan (other than any Revolving Credit Loan made pursuant to Section 3.4(a)) and each
Swingline Loan, the Administrative Agent shall have received a Notice of Borrowing meeting the requirements of Section 2.3.

 

(c)            Prior
to the issuance of each Letter of Credit, the Administrative Agent and the Letter of Credit Issuer shall have received a Letter of Credit
Request meeting the requirements of Section 3.2(a).

 

The acceptance of the benefits of each Credit
Event shall constitute a representation and warranty by each Credit Party to each of the Lenders that all the applicable conditions specified
in Section 7 above have been satisfied as of that time.

 

Section 8.                Representations
and Warranties

 

In order to induce the Lenders
to enter into this Agreement, to make the Loans and Swingline Loans and issue or participate in Letters of Credit as provided for herein,
Holdings and the Borrower make the following representations and warranties to the Lenders, all of which shall survive the execution
and delivery of this Agreement and the making of the Loans and Swingline Loans and the issuance of the Letters of Credit (it being understood
that the following representations and warranties shall be deemed made with respect to any Foreign Subsidiary only to the extent relevant
under applicable law):

 

8.1            Corporate
Status. Each Credit Party (a) is a duly organized and/or incorporated validly existing corporation, limited liability company
or other entity in good standing (if applicable) under the laws of the jurisdiction of its organization and/or incorporation and has
the corporate, limited liability company or other organizational power and authority to own its property and assets and to transact the
business in which it is engaged and (b) has duly qualified and is authorized to do business and is in good standing (if applicable)
in all jurisdictions where it is required, to be so qualified, except where the failure to be so qualified would not reasonably be expected
to result in a Material Adverse Effect.

 

8.2            Corporate
Power and Authority. Each Credit Party has the corporate or other organizational power and authority to execute, deliver and carry
out the terms and provisions of the Credit Documents to which it is a party and has taken all necessary corporate or other organizational
action to authorize the execution, delivery and performance of the Credit Documents to which it is a party. Each Credit Party has duly
executed and delivered each Credit Document to which it is a party and each such Credit Document constitutes the legal, valid, and binding
obligation of such Credit Party enforceable in accordance with its terms (provided that, with respect to the creation and perfection
of security interests with respect to Indebtedness, Capital Stock and Stock Equivalents of Foreign Subsidiaries, only to the extent enforceability
of such obligation with respect to which Capital Stock and Stock Equivalents of Foreign Subsidiaries is governed by the Uniform Commercial
Code), except as the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditors’ rights
generally and subject to general principles of equity.

 

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8.3            No
Violation. Neither the execution, delivery or performance by any Credit Party of the Credit Documents to which it is a party nor
compliance with the terms and provisions thereof nor the consummation of the Transactions and the other transactions contemplated hereby
or thereby will (a) contravene any applicable provision of any material law, statute, rule, regulation, order, writ, injunction
or decree of any court or governmental instrumentality, (b) result in any breach of any of the terms, covenants, conditions or provisions
of, or constitute a default under, or result in the creation or imposition of (or the obligation to create or impose) any Lien upon any
of the property or assets of such Credit Party or any of the Restricted Subsidiaries (other than Liens created under the Credit Documents
or Permitted Liens) pursuant to, the terms of any material indenture, loan agreement, lease agreement, mortgage, deed of trust, agreement
or other material instrument to which such Credit Party or any of the Restricted Subsidiaries is a party or by which it or any of its
property or assets is bound (any such term, covenant, condition or provision, a “Contractual Requirement”) other than
any such breach, default or Lien that would not reasonably be expected to result in a Material Adverse Effect or (c) violate any
provision of the certificate of incorporation, by-laws, articles or other organizational documents of such Credit Party or any of the
Restricted Subsidiaries.

 

8.4            Litigation.
There are no actions, suits or proceedings pending or, to the knowledge of Holdings or the Borrower, threatened in writing against Holdings,
the Borrower or any of the Restricted Subsidiaries that would reasonably be expected to result in a Material Adverse Effect.

 

8.5            Margin
Regulations. Neither the making of any Loan hereunder nor the use of the proceeds thereof will violate the provisions of Regulation
T, U or X of the Federal Reserve Board.

 

8.6            Governmental
Approvals. The execution, delivery and performance of each Credit Document does not require any consent or approval of, registration
or filing with, or other action by, any Governmental Authority, except for (i) such as have been obtained or made and are in full
force and effect, (ii) filings, consents, approvals, registrations and recordings in respect of the Liens created pursuant to the
Security Documents (and to release existing Liens), and (iii) such licenses, approvals, authorizations, registrations, filings or
consents the failure of which to obtain or make would not reasonably be expected to result in a Material Adverse Effect.

 

8.7            Investment
Company Act. None of Holdings, the Borrower, or any other Restricted Subsidiary is an “investment company” within the
meaning of the Investment Company Act of 1940, as amended.

 

8.8            True
and Complete Disclosure.

 

(a)             None
of the written factual information and written data (taken as a whole) heretofore or contemporaneously furnished by or on behalf of Holdings,
the Borrower, any of the other Restricted Subsidiaries or any of their respective authorized representatives to the Administrative Agent,
any Joint Lead Arranger and Bookrunner, and/or any Lender on or before the Sixth Amendment Effective Date with respect to the Sixth Amendment
(including all such written information and data contained in (i) the Lender Presentation (as updated prior to the Sixth Amendment
Effective Date and including all information incorporated by reference therein) and (ii) the Credit Documents) for purposes of or
in connection with this Agreement or any transaction contemplated herein was, when furnished, incorrect in any material respect or contained
any untrue statement of any material fact or omitted to state any material fact necessary to make such information and data (taken as
a whole) not materially misleading at such time in light of the circumstances under which such information or data was furnished (after
giving effect to all supplements and updates), it being understood and agreed that for purposes of this Section 8.8(a), such
factual information and data shall not include pro forma financial information, projections, estimates (including financial estimates,
forecasts, and other forward-looking information) or other forward looking information and information of a general economic or general
industry nature.

 

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(b)            The
projections (including financial estimates, forecasts, and other forward-looking information) contained in the information and data referred
to in paragraph (a) above were based on good faith estimates and assumptions believed by such Persons to be reasonable at
the time made, it being recognized by the Lenders that such projections as to future events are not to be viewed as facts and that actual
results during the period or periods covered by any such projections may differ from the projected results and such differences may be
material.

 

8.9            Financial
Condition; Financial Statements.

 

(a)            (i) The
unaudited historical consolidated financial information of Holdings as set forth in the Confidential Information Memorandum, and (ii) the
Historical Financial Statements, in each case present fairly in all material respects the combined financial position of Holdings at
the respective dates of said information, statements and results of operations for the respective periods covered thereby. The Pro Forma
Financial Statements, copies of which have heretofore been furnished to the Administrative Agent, have been prepared based on the Historical
Financial Statements and have been prepared in good faith, based on assumptions believed by Holdings to be reasonable as of the date
of delivery thereof, and present fairly in all material respects on a Pro Forma Basis the estimated financial position of Holdings and
its Subsidiaries as at December 31, 2021 (as if the Transactions had been consummated on such date) and their estimated results
of operations as if the Transactions had been consummated on October 1, 2021. The financial statements referred to in clause
(a)(ii) of this Section 8.9 have been prepared in accordance with GAAP consistently applied except to the extent
provided in the notes to said financial statements.

 

(b)            There
has been no Material Adverse Effect since the Sixth Amendment Effective Date.

 

Each Lender and the Administrative Agent hereby
acknowledges and agrees that Holdings and its Subsidiaries may be required to restate historical financial statements as the result of
the implementation of changes in GAAP or IFRS, or the respective interpretation thereof, and that such restatements will not result in
a Default or an Event of Default under the Credit Documents.

 

8.10          Compliance
with Laws; No Default. Each Credit Party and, with respect to clauses (a)(i), (a)(ii) and (b) of this
Section 8.10, to the knowledge of such Credit Parties, each of their respective directors, officers, employees or agents,
(a) is in compliance with all Requirements of Law applicable to it or its property, except, in each case, where the failure to be
in copliance would not reasonably be expected to result in a Material Adverse Effect including without limitation, the Patriot Act and
the Trading with the Enemy Act, as amended, and each of the foreign assets control regulations of the United States Treasury Department
(31 C.F.R., Subtitle B, Chapter V, as amended), including (i) regulations administered by the United States Treasury Department’s
Office of Foreign Assets Control (“OFAC”) and any other enabling legislation or executive order relating thereto and
(ii) the United States Foreign Corrupt Practices Act of 1977 as amended, and the rules and regulations promulgated thereunder
(collectively, the “FCPA”), (b) is not (i) currently the subject or target of any Sanctions, (ii) included
on OFAC’s List of Specially Designated nationals, HMT’s Consolidated List of Financial Sanctions Targets and the Investment
Ban List, or any similar list enforced by any other relevant sanctions authority or (iii) located, organized or resident in a Designated
Jurisdiction, (c) is in compliance with the FCPA and, to the extent applicable, other similar anti-corruption legislation in other
applicable jurisdictions (collectively, the “Anti-Corruption Laws”) and have instituted and maintained policies and
procedures designed to promote and achieve compliance with the Anti-Corruption Laws, except, in each case, where the failure to be in
compliance with the Anti-Corruption Laws would not reasonably be expected to result in a Material Adverse Effect, and (d) except
where the failure to be in compliance would not reasonably be expected to result in a Material Adverse Effect, is in compliance with
the Anti-Money Laundering Laws. No Default has occurred and is continuing.

 

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8.11          Tax
Matters. Except as would not reasonably be expected to have a Material Adverse Effect, (a) each of Holdings, the Borrower and
each of the other Restricted Subsidiaries has filed all Tax returns required to be filed by it and has timely paid all Taxes payable
by it (whether or not shown on a Tax return and including in its capacity as Withholding Agent) that have become due, other than those
being contested in good faith and by proper proceedings if it has maintained adequate reserves (in the good faith judgment of management
of Holdings, the Borrower or such Restricted Subsidiary, as applicable) with respect thereto in accordance with GAAP and it can lawfully
withhold such payment and (b) each of Holdings, the Borrower and each of the Restricted Subsidiaries has paid, or has provided adequate
reserves (in the good faith judgment of management of Holdings, the Borrower or such Restricted Subsidiary, as applicable) in accordance
with GAAP for the payment of all Taxes not yet due and payable. There is no current or proposed Tax assessment, deficiency or other claim
against Holdings, the Borrower or any Restricted Subsidiary that would reasonably be expected to result in a Material Adverse Effect.

 

8.12          Compliance
with ERISA.

 

(a)            Except
as would not reasonably be expected to have a Material Adverse Effect, no ERISA Event has occurred or is reasonably expected to occur.

 

(b)            Except
as would not reasonably be expected to have a Material Adverse Effect, no Foreign Plan Event has occurred or is reasonably expected to
occur.

 

8.13          Subsidiaries.
Schedule 8.13 lists each Subsidiary of Holdings and the Borrower (and the direct and indirect ownership interest of Holdings and
the Borrower therein), in each case existing on the Closing Date.

 

8.14          Intellectual
Property. Each of Holdings, the Borrower and the other Restricted Subsidiaries owns or has the right to use all Intellectual Property
that is used in or otherwise necessary for the operation of their respective businesses as currently conducted, except where the failure
of the foregoing would not reasonably be expected to have a Material Adverse Effect. To the knowledge of Holdings and the Borrower, the
operation of their respective businesses by each of Holdings, the Borrower, and the other Restricted Subsidiaries does not infringe upon,
misappropriate, violate or otherwise conflict with the Intellectual Property of any third party, except as would not reasonably be expected
to have a Material Adverse Effect.

 

8.15          Environmental
Laws.

 

(a)            Except
as set forth on Schedule 8.15, or as would not reasonably be expected to have a Material Adverse Effect: (i) each of Holdings,
the Borrower, and the other Restricted Subsidiaries and their respective operations and properties are in compliance with all applicable
Environmental Laws; (ii) none of Holdings, the Borrower, or any other Restricted Subsidiary has received written notice of any Environmental
Claim; and (iii) none of Holdings, the Borrower, or any Restricted Subsidiary is conducting any investigation, removal, remedial
or other corrective action pursuant to any Environmental Law at any location.

 

(b)            Except
as set forth on Schedule 8.15, none of Holdings, the Borrower or any of the Restricted Subsidiaries has treated, stored, transported,
released or arranged for disposal or transport for disposal or treatment of Hazardous Materials at, on, under or from any currently or,
formerly owned or operated property nor, to the knowledge of the Borrower, has there been any other Release of Hazardous Materials at,
on, under or from any such properties, in each case, in a manner that would reasonably be expected to have a Material Adverse Effect.

 

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8.16          Properties.

 

(a)            (i) Each
of Holdings, the Borrower, and the other Restricted Subsidiaries has good and valid record title to, valid leasehold interests in, or
rights to use, all properties that are necessary for the operation of their respective businesses as currently conducted and as proposed
to be conducted, free and clear of all Liens (other than any Liens permitted by this Agreement) and except where the failure to have
such good title or interest would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect and
(ii) no Mortgage encumbers improved Real Estate that is located in an area that has been identified by the Secretary of Housing
and Urban Development as an area having special flood hazards within the meaning of the Flood Insurance Laws unless flood insurance available
under such Flood Insurance Laws has been obtained in accordance with Section 9.3(b).

 

(b)            Set
forth on Schedule 1.1(a) is a list of each real property owned by any Credit Party as of the Closing Date having a Fair Market
Value in excess of the greater of (x) $30,000,000 and (y) 10% of Consolidated EBITDA for the most recently ended Test Period.

 

8.17          Solvency.
On the Sixth Amendment Effective Date (after giving effect to the Transactions) immediately following the making of the Loans and after
giving effect to the application of the proceeds of such Loans, Holdings on a consolidated basis with the Restricted Subsidiaries will
be Solvent.

 

8.18          Patriot
Act. The use of proceeds of the Loans, Letters of Credit and/or Swingline Loans will not result in a violation of the Patriot Act
or any Anti-Money Laundering Laws, Sanctions or Anti-Corruption Laws in any material respect.

 

Section 9.                Affirmative
Covenants.

 

Each of Holdings and the
Borrower hereby covenants and agrees that on the Closing Date and thereafter, until the Termination Date:

 

9.1            Information
Covenants. The Borrower will furnish to the Administrative Agent (which shall promptly make such information available to the Lenders
in accordance with its customary practice):

 

 (a)           Annual
Financial Statements. As soon as available and in any event within five days after the date on which such financial statements are
required to be filed with the SEC (after giving effect to any permitted extensions) (or, if such financial statements are not required
to be filed with the SEC, on or before the date that is 105 days after the end of each such fiscal year), the consolidated balance sheets
of Holdings and the Restricted Subsidiaries as at the end of such fiscal year, and the related consolidated statements of operations
and cash flows for such fiscal year, setting forth comparative consolidated and/or combined figures for the preceding fiscal years, all
in reasonable detail and prepared in accordance with GAAP, and, in each case, certified by independent certified public accountants of
recognized national standing whose opinion shall not be qualified as to the scope of audit or as to the status of Holdings or any of
the Material Subsidiaries (or group of Subsidiaries that together would constitute a Material Subsidiary) as a going concern (other than
any exception, explanatory paragraph or qualification, that is expressly solely with respect to, or expressly resulting solely from,
(i) an upcoming maturity date under any Indebtedness, (ii) any actual or potential inability to satisfy a financial maintenance
covenant at such time or on a future date or in a future period or (iii) the activities, operations, financial results, assets or
liabilities of any Unrestricted Subsidiary).

 

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 (b)           Quarterly
Financial Statements. As soon as available and in any event within five days after the date on which such financial statements are
required to be filed with the SEC (after giving effect to any permitted extensions) with respect to each of the first three quarterly
accounting periods in each fiscal year of Holdings (or, if such financial statements are not required to be filed with the SEC, on or
before the date that is 60 days after the end of each such quarterly accounting period), the consolidated balance sheets of Holdings
and the Restricted Subsidiaries as at the end of such quarterly period and the related consolidated statements of operations for such
quarterly accounting period and for the elapsed portion of the fiscal year ended with the last day of such quarterly period, and the
related consolidated statement of cash flows for such quarterly accounting period, and setting forth comparative consolidated and/or
combined figures for the related periods in the prior fiscal year or, in the case of such consolidated balance sheet, for the last day
of the related period in the prior fiscal year, all of which shall be certified by an Authorized Officer of Holdings as fairly presenting
in all material respects the financial condition, results of operations and cash flows of Holdings and its Restricted Subsidiaries in
accordance with GAAP (except as noted therein), subject to changes resulting from normal year-end adjustments and the absence of footnotes.

 

 (c)           [Reserved].

 

 (d)           Officer’s
Certificates. Not later than five days after the delivery of the financial statements provided for in Sections 9.1(a) and
(b), a certificate of an Authorized Officer of Holdings or the Borrower 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, as the case may be, which certificate shall
set forth (i) a specification of any change in the identity of the Restricted Subsidiaries and Unrestricted Subsidiaries as at the
end of such fiscal year or period, as the case may be, from the Restricted Subsidiaries and Unrestricted Subsidiaries, respectively,
provided to the Lenders on the Closing Date or the most recent fiscal year or period, as the case may be and (ii) the then applicable
Status and underlying calculations in connection therewith. At the time of the delivery of the financial statements provided for in Section 9.1(a),
a certificate of an Authorized Officer of Holdings or the Borrower setting forth changes to the legal name, jurisdiction of formation,
type of entity and organizational number (or equivalent) to the Person organized in a jurisdiction where an organizational identification
number is required to be included in a Uniform Commercial Code financing statement, in each case for each Credit Party or confirming
that there has been no change in such information since the Closing Date or the date of the most recent certificate delivered pursuant
to this clause (d), as the case may be.

 

 (e)           Notice
of Default or Litigation. Promptly after an Authorized Officer of Holdings or any of the Restricted Subsidiaries obtains knowledge
thereof, notice of (i) the occurrence of any event that constitutes a Default or Event of Default, which notice shall specify the
nature thereof, the period of existence thereof and what action Holdings proposes to take with respect thereto and (ii) any litigation
or governmental proceeding pending against Holdings or any of the Restricted Subsidiaries that would reasonably be expected to be determined
adversely and, if so determined, to result in a Material Adverse Effect.

 

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 (f)            Environmental
Matters. Promptly after an Authorized Officer of Holdings or any of the Restricted Subsidiaries obtains knowledge of any one or more
of the following environmental matters, unless such environmental matters would not reasonably be expected to result in a Material Adverse
Effect, notice of:

 

(i)            any
pending or threatened Environmental Claim against any Credit Party or any Real Estate; and

 

(ii)            the
conduct of any investigation, or any removal, remedial or other corrective action in response to the actual or alleged presence, Release
or threatened Release of any Hazardous Material on, at, under or from any Real Estate.

 

All such notices shall describe in
reasonable detail the nature of the claim, investigation or removal, remedial or other corrective action in response thereto. The term
 “Real Estate” shall mean land, buildings, facilities and improvements owned or leased by any Credit Party.

 

(g)            Other
Information. Promptly upon filing thereof, copies of any filings (including on Form 10-K, 10-Q or 8-K) or registration statements
(other than drafts of pre effective versions of registration statements)with, and reports to, the SEC or any analogous Governmental Authority
with respect to the publicly issued debt of Holdings in any relevant jurisdiction by Holdings or any of the Restricted Subsidiaries (other
than amendments to any registration statement (to the extent such registration statement, in the form it becomes effective, is delivered
to the Administrative Agent), exhibits to any registration statement and, if applicable, any registration statements on Form S-8)
and copies of all financial statements, proxy statements, notices, and reports that Holdings or any of the Restricted Subsidiaries shall
send to the holders of any publicly issued debt of Holdings and/or any of the Restricted Subsidiaries, in their capacity as such holders,
lenders or agents (in each case to the extent not theretofore delivered to the Administrative Agent pursuant to this Agreement) and,
with reasonable promptness, such other information (financial or otherwise) as the Administrative Agent on its own behalf or on behalf
of any Lender (acting through the Administrative Agent) may reasonably request in writing from time to time; provided, that none
of Holdings, the Borrower nor any other Restricted Subsidiary will be required to disclose or permit the inspection or discussion of,
any document, information or other matter (i) that constitutes non-financial trade secrets or non-financial proprietary information,
(ii) in respect of which disclosure to the Administrative Agent or any Lender (or their respective contractors) is prohibited by
law, or any binding agreement, (iii) that is subject to attorney client or similar privilege or constitutes attorney work product
or (iv) that is otherwise subject to Section 13.16 or the limitations set forth in Section 9.2.

 

Notwithstanding the foregoing,
the obligations in clauses (a) and (b) of this Section 9.1 may be satisfied with respect to financial
information of Holdings and the Restricted Subsidiaries by furnishing (A) the applicable financial statements of the Borrower or
any direct or indirect parent of Holdings or (B) Holdings’ (or any direct or indirect parent thereof), as applicable, Form 10-K
or 10-Q, as applicable, filed with the SEC; provided that, with respect to each of subclauses (A) and (B) of
this paragraph, to the extent such information relates to a parent of Holdings, such information is accompanied by consolidating or other
information that explains in reasonable detail the differences between the information relating to such parent, on the one hand, and
the information relating to Holdings and the Restricted Subsidiaries on a standalone basis, on the other hand.

 

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Documents required to be
delivered pursuant to clauses (a), (b), and (g) of this Section 9.1 (to the extent any such documents
are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have
been delivered on the earliest date on which (i) Holdings posts such documents, or provides a link thereto on Holdings’ website
on the Internet; (ii) such documents are posted on Holdings’ behalf on IntraLinks/IntraAgency or another website, if any,
to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the
Administrative Agent), or (iii) such financial statements and/or other documents are posted on the SEC’s website on the internet
at www.sec.gov; provided, that, (A) the Borrower shall, at the request of the Administrative Agent, continue to deliver copies
(which delivery may be by electronic transmission ) of such documents to the Administrative Agent and (B) the Borrower shall notify
(which notification may be by facsimile or electronic transmission) the Administrative Agent of the posting of any such documents on
any website described in this paragraph. Each Lender shall be solely responsible for timely accessing posted documents or requesting
delivery of paper copies of such documents from the Administrative Agent and maintaining its copies of such documents.

 

Each Credit Party hereby
acknowledges and agrees that, unless the Borrower notifies the Administrative Agent in advance, all financial statements and certificates
furnished pursuant to Sections 9.1(a), (b) and (d) above are hereby deemed to be suitable for distribution,
and to be made available, to all Lenders and may be treated by the Administrative Agent and the Lenders as not containing any material
nonpublic information.

 

The Borrower will furnish
to the Administrative Agent and each applicable Lender, reasonably promptly following any request therefor, information and documentation,
if any, requested by the Administrative Agent or any Lender (through the Administrative Agent) required by such Person in order to comply
with the Beneficial Ownership Regulation.

 

9.2            Books,
Records, and Inspections. Holdings will, and will cause each Restricted Subsidiary to, permit officers and designated representatives
of the Administrative Agent or the Required Lenders to visit and inspect any of the properties or assets of Holdings and any such Subsidiary
in whomsoever’s possession to the extent that it is within such party’s control to permit such inspection (and shall use
commercially reasonable efforts to cause such inspection to be permitted to the extent that it is not within such party’s control
to permit such inspection), and to examine the books and records of Holdings and any such Subsidiary and discuss the affairs, finances
and accounts of Holdings and of any such Subsidiary with, and be advised as to the same by, its and their officers and independent accountants,
all at such reasonable times and intervals and to such reasonable extent as the Administrative Agent or the Required Lenders may desire
(and subject, in the case of any such meetings or advice from such independent accountants, to such accountants’ customary policies
and procedures); provided that, excluding any such visits and inspections during the continuation of an Event of Default, (a) only
the Administrative Agent on behalf of the Required Lenders may exercise rights of the Administrative Agent and the Lenders under this
Section 9.2, (b) the Administrative Agent shall not exercise such rights more than one time in any calendar year, which
such visit will be at Holdings’ expense, and (c) notwithstanding anything to the contrary in this Section 9.2,
none of Holdings or any of the Restricted Subsidiaries will be required to disclose, permit the inspection, examination or making copies
or abstracts of, or discussion of, any document, information or other matter that (i) constitutes non-financial trade secrets or
non-financial proprietary information, (ii) in respect of which disclosure to the Administrative Agent or any Lender (or their respective
representatives or contractors) is prohibited by law or any binding agreement or (iii) is subject to attorney-client or similar
privilege or constitutes attorney work product; provided, further, that when an Event of Default exists, the Administrative
Agent (or any of its respective representatives or independent contractors) or any representative of the Required Lenders may do any
of the foregoing at the expense of Holdings at any time during normal business hours and upon reasonable advance notice. The Administrative
Agent and the Required Lenders shall give Holdings the opportunity to participate in any discussions with Holdings’ independent
public accountants.

 

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9.3            Maintenance
of Insurance. (a) Holdings will, and will cause each Material Subsidiary to, at all times maintain in full force and effect,
pursuant to self-insurance arrangements or with insurance companies that Holdings believes (in the good faith judgment of the management
of Holdings) are financially sound and responsible at the time the relevant coverage is placed or renewed, insurance in at least such
amounts (after giving effect to any self-insurance which Holdings believes (in the good faith judgment of management of Holdings) is
reasonable and prudent in light of the size and nature of its business and the availability of insurance on a cost-effective basis) and
against at least such risks (and with such risk retentions) as Holdings believes (in the good faith judgment of management of Holdings)
is reasonable and prudent in light of the size and nature of its business and the availability of insurance on a cost-effective basis;
and will furnish to the Administrative Agent, promptly following written request from the Administrative Agent, information presented
in reasonable detail as to the insurance so carried and (b) with respect to each improved Mortgaged Property located in a special
flood hazard area, Holdings will obtain flood insurance in such total amount as required by the Flood Insurance Laws and shall otherwise
comply with the Flood Insurance Laws. Each such policy of insurance shall (i) name the Collateral Agent, on behalf of the Secured
Parties as an additional insured and loss payee thereunder as its interests may appear and (ii) in the case of each casualty insurance
policy, contain a lender’s loss payable clause or endorsement that names the Collateral Agent, on behalf of the Secured Parties
as the lender’s loss payee thereunder.

 

9.4            Payment
of Taxes. Each of Holdings and the Borrower will pay and discharge or cause to be paid and discharged, and will cause each of the
Restricted Subsidiaries to pay and discharge, all material Taxes imposed upon it (including in its capacity as a withholding agent) or
upon its income or profits, or upon any properties belonging to it, prior to the date on which material penalties attach thereto, and
all lawful material claims in respect of any Taxes imposed, assessed or levied that, if unpaid, would reasonably be expected to become
a material Lien upon any properties of Holdings, the Borrower or any of the Restricted Subsidiaries; provided that none of Holdings,
the Borrower or any of the Restricted Subsidiaries shall be required to pay any such Tax that is being contested in good faith and by
proper proceedings if it has maintained adequate reserves (in the good faith judgment of management of Holdings, the Borrower or the
applicable Restricted Subsidiary) with respect thereto in accordance with GAAP, it can lawfully withhold such payment and the failure
to pay would not reasonably be expected to result in a Material Adverse Effect.

 

9.5            Preservation
of Existence; Consolidated Corporate Franchises. Holdings and the Borrower will, and will cause each Material Subsidiary to, take
all actions necessary (a) to preserve and keep in full force and effect its existence, organizational rights and authority and (b) to
maintain its rights, privileges (including its good standing (if applicable)), permits, licenses and franchises necessary in the normal
conduct of its business, in each case, except to the extent that the failure to do so would not reasonably be expected to have a Material
Adverse Effect; provided, however, that Holdings and its Subsidiaries may consummate any transaction permitted under Permitted
Investments and Sections 10.2, 10.3, 10.4, or 10.5.

 

9.6            Compliance
with Statutes, Regulations, Etc. Holdings will, and will cause each Restricted Subsidiary to, (a) comply with all applicable
laws, rules, regulations, and orders applicable to it or its property, including, without limitation, all Sanctions, Anti-Corruption
Laws and Anti-Money Laundering Laws, and all governmental approvals or authorizations required to conduct its business, and to maintain
all such governmental approvals or authorizations in full force and effect, (b) comply with, and use commercially reasonable efforts
to ensure compliance by all tenants and subtenants, if any, with, all Environmental Laws, and obtain and comply with and maintain, and
use commercially reasonable efforts to ensure that all tenants and subtenants obtain and comply with and maintain, any and all licenses,
approvals, notifications, registrations or permits required by Environmental Laws, and (c) conduct and complete all investigations,
studies, sampling and testing, and all remedial, removal, and other actions required under Environmental Laws and promptly comply with
all lawful orders and directives of all Governmental Authorities regarding Environmental Laws, other than such orders and directives
which are being timely contested in good faith by proper proceedings, except in each case of (a), (b), and (c) of
this Section 9.6, where the failure to do so would not reasonably be expected to result in a Material Adverse Effect.

 

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9.7            ERISA.
Where applicable, (a) Holdings will furnish to the Administrative Agent promptly following receipt thereof, copies of any documents
described in Sections 101(k) or 101(l) of ERISA that any Credit Party or any of its Subsidiaries may request with respect to
any Multiemployer Plan to which a Credit Party or any of its Subsidiaries is obligated to contribute; provided that if the Credit
Parties or any of their Subsidiaries have not requested such documents or notices from the administrator or sponsor of the applicable
Multiemployer Plan, then, upon reasonable request of the Administrative Agent, the applicable Credit Party or Subsidiary shall promptly
make a request for such documents or notices from such administrator or sponsor and the Borrower shall provide copies of such documents
and notices to the Administrative Agent promptly after receipt thereof; and further provided, that the rights granted to the Administrative
Agent in this Section shall be exercised not more than once during a 12-month period, and (b) Holdings will notify the Administrative
Agent promptly following the occurrence of any ERISA Event or Foreign Plan Event that, alone or together with any other ERISA Events
or Foreign Plan Events that have occurred, would reasonably be expected to result in liability of any Credit Party that would reasonably
be expected to have a Material Adverse Effect.

 

9.8            Maintenance
of Properties. Holdings will, and will cause each of the Restricted Subsidiaries to, keep and maintain all property material to the
conduct of its business in good working order and condition, ordinary wear and tear, casualty, and condemnation excepted, except to the
extent that the failure to do so would not reasonably be expected to have a Material Adverse Effect.

 

9.9            Transactions
with Affiliates. Holdings will conduct, and cause each of the Restricted Subsidiaries to conduct, all transactions with any of its
Affiliates (other than Holdings and the Restricted Subsidiaries) involving aggregate payments or consideration in excess of the greater
of (x) $25,000,000 and (y) 8.5% of Consolidated EBITDA for the most recently ended Test Period (calculated on a Pro Forma Basis)
at the time of such Affiliate transaction for any individual transaction or series of related transactions on terms that are at least
substantially as favorable to Holdings or such Restricted Subsidiary as it would obtain in a comparable arm’s-length transaction
with a Person that is not an Affiliate, as determined by the board of directors of Holdings or such Restricted Subsidiary in good faith;
provided that the foregoing restrictions shall not apply to (a) the payment of fees to the Sponsor for management, consulting,
and financial services rendered to Holdings and the Restricted Subsidiaries pursuant to the Sponsor Management Agreement and customary
investment banking fees paid to the Sponsor for services rendered to Holdings and the Subsidiaries in connection with divestitures, acquisitions,
financings and other transactions which payments are approved by a majority of the board of directors of Holdings in good faith, (b) transactions
permitted by Section 10.3 and Section 10.5, (c) consummation of the Transactions and the payment of the
Transaction Expenses, (d) the issuance of Capital Stock or Stock Equivalents of Holdings (or any direct or indirect parent thereof)
or any of its Subsidiaries not otherwise prohibited by the Credit Documents, (e) loans, advances and other transactions between
or among Holdings, any Restricted Subsidiary or any joint venture (regardless of the form of legal entity) in which Holdings or any Subsidiary
has invested (and which Subsidiary or joint venture would not be an Affiliate of Holdings but for Holdings’ or a Subsidiary’s
ownership of Capital Stock or Stock Equivalents in such joint venture or Subsidiary) to the extent permitted under Section 10,
(f) employment and severance arrangements between Holdings and the Restricted Subsidiaries and their respective officers, employees
or consultants (including management and employee benefit plans or agreements, stock option plans and other compensatory arrangements)
in the ordinary course of business (including loans and advances in connection therewith), (g) payments by Holdings (and any direct
or indirect parent thereof) and the Subsidiaries pursuant to the tax sharing agreements among Holdings (and any such parent) and the
Subsidiaries that are permitted under Section 10.5(b)(15); provided that in each case the amount of such payments
in any fiscal year does not exceed the amount that Holdings, the Restricted Subsidiaries and the Unrestricted Subsidiaries (to the extent
of the amount received from Unrestricted Subsidiaries) would have been required to pay in respect of such foreign, federal, state and/or
local taxes for such fiscal year had Holdings, the Restricted Subsidiaries and the Unrestricted Subsidiaries (to the extent described
above) paid such taxes separately from any such direct or indirect parent company of Holdings, (h) the payment of customary fees
and reasonable out of pocket costs to, and indemnities provided on behalf of, directors, managers, consultants, officers, employees of
Holdings (or any direct or indirect parent thereof) and the Subsidiaries in the ordinary course of business to the extent attributable
to the ownership or operation of Holdings and the Subsidiaries, (i) transactions undertaken pursuant to membership in a purchasing
consortium, (j) transactions pursuant to any agreement or arrangement as in effect as of the Closing Date or the Sixth Amendment
Effective Date, or any amendment, modification, supplement or replacement thereto (so long as any such amendment, modification, supplement
or replacement is not disadvantageous in any material respect to the Lenders when taken as a whole as compared to the applicable agreement
as in effect on the Closing Date or the Sixth Amendment Effective Date as determined by the Borrower in good faith), (k) customary
payments by Holdings (or any direct or indirect parent) and any Restricted Subsidiaries to the Sponsor made for any financial advisory,
consulting, financing, underwriting or placement services or in respect of other investment banking activities (including in connection
with acquisitions or divestitures), (l) the existence and performance of agreements and transactions with any Unrestricted Subsidiary
that were entered into prior to the designation of a Restricted Subsidiary as such Unrestricted Subsidiary to the extent that the transaction
was permitted at the time that it was entered into with such Restricted Subsidiary and transactions entered into by an Unrestricted Subsidiary
with an Affiliate prior to the redesignation of any such Unrestricted Subsidiary as a Restricted Subsidiary; provided that such transaction
was not entered into in contemplation of such designation or redesignation, as applicable, (m) Affiliate repurchases of the Loans
or Commitments to the extent permitted hereunder and the holding of such Loans or Commitments and the payments and other transactions
contemplated herein in respect thereof, and (n) any customary transactions with a Receivables Subsidiary effected as part of a Receivables
Facility.

 

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9.10          End
of Fiscal Years. Holdings will, for financial reporting purposes, cause each of its, and each of the Restricted Subsidiaries’,
fiscal years to end on dates consistent with past practice; provided, however, that Holdings may, upon written notice to
the Administrative Agent change the financial reporting convention specified above to (x) align the dates of such fiscal year and
for any Restricted Subsidiary whose fiscal years end on dates different from those of Holdings or (y) any other financial reporting
convention reasonably acceptable to the Administrative Agent, in which case Holdings and the Administrative Agent will, and are hereby
authorized by the Lenders to, make any adjustments to this Agreement that are necessary in order to reflect such change in financial
reporting.

 

9.11          Additional
Guarantors and Grantors. Subject to any applicable limitations set forth in the Security Documents, Holdings will cause each direct
or indirect Subsidiary (other than any Excluded Subsidiary) formed or otherwise purchased or acquired after the Closing Date (including
pursuant to a Permitted Acquisition), and each other Subsidiary that ceases to constitute an Excluded Subsidiary, within 60 days from
the date of such formation, acquisition or cessation, as applicable (or such longer period as the Administrative Agent may agree in its
reasonable discretion), and Holdings may at its option cause any Subsidiary, to execute a supplement to each of the Guarantee, the Pledge
Agreement and the Security Agreement in order to become a Guarantor under the Guarantee and a grantor under such Security Documents or,
to the extent reasonably requested by the Collateral Agent, enter into a new Security Document substantially consistent with the analogous
existing Security Documents and otherwise in form and substance reasonably satisfactory to the Collateral Agent and take all other action
reasonably requested by the Collateral Agent to grant a perfected security interest in its assets to substantially the same extent as
created by the Credit Parties on the Closing Date. For the avoidance of doubt, no Credit  Party (other than Holdings) or any Domestic
Restricted Subsidiary shall be required to take any action outside the United States to perfect any security interest in the Collateral
(including the execution of any agreement, document or other instrument governed by the law of any jurisdiction other than the United
States, any State thereof or the District of Columbia).

 

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9.12          Pledge
of Additional Stock and Evidence of Indebtedness. Subject to any applicable limitations set forth in the Security Documents and other
than (x) when in the reasonable determination of the Administrative Agent and the Borrower (as agreed to in writing), the cost or
other consequences of doing so would be excessive in view of the benefits to be obtained by the Secured Parties therefrom or (y) to
the extent doing so would result in material adverse tax consequences as reasonably determined by the Borrower in consultation with the
Administrative Agent, Holdings will cause (i) all certificates representing Capital Stock and Stock Equivalents of any Restricted
Subsidiary (other than any Excluded Stock and Stock Equivalents) held directly by Holdings or any other Credit Party, (ii) all evidences
of Indebtedness in excess of the greater of (a) $30,000,000 and (b) 10% of Consolidated EBITDA for the most recently ended
Test Period (calculated on a Pro Forma Basis) at the time of any disposition of assets pursuant to Section 10.4(b) received
by Holdings, the Borrower or any of the Guarantors in connection with any disposition of assets pursuant to Section 10.4(b),
and (iii) any promissory notes executed after the Closing Date evidencing Indebtedness in excess of the greater of (a) $20
million and (b) 10% of Consolidated EBITDA for the most recently ended Test Period (calculated on a Pro Forma Basis) at the time
such promissory note is executed of Holdings or any Subsidiary that is owing to Holdings or any other Credit Party, in each case, to
be delivered to the Collateral Agent as security for the Obligations accompanied by undated instruments of transfer executed in blank
pursuant to the terms of the Security Documents. Notwithstanding the foregoing any promissory note among Holdings and/or its Subsidiaries
need not be delivered to the Collateral Agent so long as (i) a global intercompany note superseding such promissory note has been
delivered to the Collateral Agent, (ii) such promissory note is not delivered to any other party other than Holdings or any other
Credit Party, in each case, owed money thereunder, and (iii) such promissory note indicates on its face that it is subject to the
security interest of the Collateral Agent.

 

9.13          Use
of Proceeds.

 

(a)            The
Borrower will use the proceeds of the Initial Term Loans and cash on hand to effect the Transactions.

 

(b)            The
Borrower will use Letters of Credit, Revolving Loans and Swingline Loans for working capital and general corporate purposes (including
any transaction not prohibited by the Credit Documents).

 

9.14          Further
Assurances.

 

(a)            Subject
to the terms of Sections 9.11 and 9.12, this Section 9.14 and the Security Documents, Holdings will, and will
cause each other Credit Party to, execute any and all further documents, financing statements, agreements, and instruments, and take
all such further actions (including the filing and recording of financing statements, fixture filings, mortgages, deeds of trust, and
other documents) that may be required under any applicable law, or that the Collateral Agent or the Required Lenders may reasonably request,
in order to grant, preserve, protect, and perfect the validity and priority of the security interests created or intended to be created
by the applicable Security Documents, all at the expense of Holdings and the Restricted Subsidiaries.

 

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(b)            Subject
to any applicable limitations set forth in the Security Documents and other than (x) when in the reasonable determination of the
Administrative Agent and Holdings (as agreed to in writing), the cost or other consequences of doing so would be excessive in view of
the benefits to be obtained by the Secured Parties therefrom (including, without limitation, the cost of title insurance, surveys or
flood insurance) or (y) to the extent doing so would result in material adverse tax consequences as reasonably determined by the
Borrower in consultation with the Administrative Agent, if any assets (other than Excluded Property) (including any real estate or improvements
thereto or any interest therein but excluding Capital Stock and Stock Equivalents of any Subsidiary and excluding any real estate which
the Borrower or applicable Credit Party intends to dispose of pursuant to a Permitted Sale Leaseback so long as actually disposed of
within 270 days of acquisition (or such longer period as the Administrative Agent may reasonably agree)) with a Fair Market Value in
excess of the greater of (x) $40,000,000 and (y) 10% of Consolidated EBITDA for the most recently ended Test Period (calculated
on a Pro Forma Basis) (at the time of acquisition) are acquired by Holdings or any other Credit Party after the Closing Date (other than
assets constituting Collateral under a Security Document that become subject to the Lien of the applicable Security Document upon acquisition
thereof) that are of a nature secured by a Security Document or that constitute a fee interest in real property in the United States,
Holdings will notify the Collateral Agent, and, if requested by the Collateral Agent, Holdings will cause such assets to be subjected
to a Lien securing the Obligations (provided, however, that in the event any Mortgage delivered pursuant to this clause (b) shall
incur any mortgage recording tax or similar charges in connection with the recording thereof, such Mortgage shall not secure an amount
in excess of the Fair Market Value of the applicable Mortgaged Property) and will take, and cause the other applicable Credit Parties
to take, such actions as shall be necessary or reasonably requested by the Collateral Agent, as soon as commercially reasonable but in
no event later than 90 days, unless waived or extended by the Administrative Agent in its reasonable discretion, to grant and perfect
such Liens consistent with the applicable requirements of the Security Documents, including actions described in clause (a) of
this Section 9.14.

 

(c)            Any
Mortgage delivered to the Administrative Agent in accordance with the preceding clause (b) shall, if requested by the Collateral
Agent, be received as soon as commercially reasonable but in no event later than 90 days (except as set forth in the preceding clause
(b)), unless waived or extended by the Administrative Agent acting reasonably and accompanied by (x) a policy or policies (or
an unconditional binding commitment therefor to be replaced by a final title policy) of title insurance issued by a nationally recognized
title insurance company (each such policy, a “Title Policy”), in such amounts as reasonably acceptable to the Administrative
Agent not to exceed the Fair Market Value of the applicable Mortgaged Property, insuring the Lien of each Mortgage as a valid first Lien
on the Mortgaged Property described therein, free of any other Liens except as expressly permitted by Section 10.2 or as
otherwise permitted by the Administrative Agent and otherwise in form and substance reasonably acceptable to the Administrative Agent
and the Borrower, together with such endorsements, co-insurance and reinsurance as the Administrative Agent may reasonably request but
only to the extent such endorsements are (i) available in the relevant jurisdiction (provided in no event shall the Administrative
Agent request a creditors’ rights endorsement) and (ii) available at commercially reasonable rates, (y) an opinion of
local counsel to the applicable Credit Party in form and substance reasonably acceptable to the Administrative Agent as to the enforceability
of such Mortgages, (z) a completed “Life-of-Loan” Federal Emergency Management Agency Standard Flood Hazard Determination,
and if any improvements on such Mortgaged Property are located in a special flood hazard area, (i) a notice about special flood
hazard area status and flood disaster assistance duly executed by the applicable Credit Parties and (ii) certificates of insurance,
together with the declaration pages, evidencing the insurance required by Section 9.3 in form and substance reasonably satisfactory
to the Administrative Agent, and (aa) an ALTA/NSPS survey in a form and substance reasonably acceptable to the Collateral Agent or such
existing survey together with a no-change affidavit sufficient for the title company to remove all standard survey exceptions from the
Title Policy related to such Mortgaged Property and issue the endorsements required in (x) above.

 

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(d)            Post-Closing
Covenant. Holdings agrees that it will, or will cause its relevant Subsidiaries to, complete each of the actions described on Schedule
9.14 (if any) as soon as commercially reasonable and by no later than the date set forth in Schedule 9.14 with respect to
such action or such later date as the Administrative Agent may reasonably agree.

 

9.15          Maintenance
of Ratings. Holdings will use commercially reasonable efforts to obtain and maintain (but not maintain any specific rating) a corporate
family and/or corporate credit rating, as applicable, and ratings in respect of the credit facilities provided pursuant to this Agreement,
in each case, from each of S&P and Moody’s.

 

9.16          Lines
of Business. Holdings and the Restricted Subsidiaries, taken as a whole, will not fundamentally and substantively alter the character
of their business, taken as a whole, from the business conducted by Holdings and the Subsidiaries, taken as a whole, on the Sixth Amendment
Effective Date and other business activities which are extensions thereof or otherwise incidental, synergistic, reasonably related, or
ancillary to any of the foregoing (and non-core incidental businesses acquired in connection with any Permitted Acquisition or permitted
Investment).

 

Section 10.              Negative
Covenants

 

Each of Holdings and the
Borrower hereby covenants and agrees that on the Closing Date and thereafter, until the Termination Date:

 

10.1          Limitation
on Indebtedness. Holdings will not, and will not permit any Restricted Subsidiary to create, incur, issue, assume, guarantee or otherwise
become liable, contingently or otherwise (collectively, “incur” and collectively, an “incurrence”)
with respect to any Indebtedness (including Acquired Indebtedness) and Holdings will not issue any shares of Disqualified Stock and will
not permit any Restricted Subsidiary to issue any shares of Disqualified Stock or, in the case of Restricted Subsidiaries that are not
Guarantors, preferred stock; provided that Holdings may incur Indebtedness (including Acquired Indebtedness) or issue shares of
Disqualified Stock, and any Restricted Subsidiary may incur Indebtedness (including Acquired Indebtedness), issue shares of Disqualified
Stock and issue shares of preferred stock, if, after giving effect thereto, the Fixed Charge Coverage Ratio of Holdings and the Restricted
Subsidiaries would be at least 1.75 to 1.00; provided further that the amount of Indebtedness (other than Acquired Indebtedness),
Disqualified Stock and preferred stock that may be incurred pursuant to the foregoing together with any amounts incurred under Section 10.1(n)(x) by
Restricted Subsidiaries that are not Guarantors shall not exceed the greater of (x) $45,000,000 and (y) 30% of Consolidated
EBITDA for the most recently ended Test Period (calculated on a Pro Forma Basis) at any one time outstanding.

 

The foregoing limitations
will not apply to:

 

(a)            Indebtedness
arising under the Credit Documents;

 

(b)            (x) Indebtedness
that may be incurred pursuant to Sections 2.14 (together with any Refinancing Indebtedness in respect thereof and all accrued
interest, fees and expenses);

 

(c)            (i) Indebtedness
(including any unused commitment) outstanding on the Closing Date listed on Schedule 10.1 and (ii) intercompany Indebtedness
(including any unused commitment) outstanding on the Closing Date listed on Schedule 10.1 (other than intercompany Indebtedness
owed by a Credit Party to another Credit Party);

 

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(d)            Indebtedness
(including Capitalized Lease Obligations), Disqualified Stock and preferred stock incurred by Holdings or any Restricted Subsidiary,
to finance the purchase, lease, construction, installation, maintenance, replacement or improvement of property (real or personal) or
equipment that is used or useful in a Similar Business, whether through the direct purchase of assets or the Capital Stock of any Person
owning such assets and Indebtedness arising from the conversion of the obligations of Holdings or any Restricted Subsidiary under or
pursuant to any “synthetic lease” transactions to on-balance sheet Indebtedness of Holdings or such Restricted Subsidiary,
in an aggregate principal amount which, when aggregated with the principal amount of all other Indebtedness, Disqualified Stock and preferred
stock then outstanding and incurred pursuant to this clause (d) and all Refinancing Indebtedness incurred to refinance any
other Indebtedness, Disqualified Stock and preferred stock incurred pursuant to this clause (d), does not exceed the greater of
(x) $105,000,000 and (y) 35% of Consolidated EBITDA for the most recently ended Test Period (calculated on a Pro Forma Basis)
at the time of incurrence; provided that Capitalized Lease Obligations incurred by Holdings or any Restricted Subsidiary pursuant
to this clause (d) in connection with a Permitted Sale Leaseback shall not be subject to the foregoing limitation so long
as the proceeds of such Permitted Sale Leaseback are used by Holdings or such Restricted Subsidiary in accordance with Section 5.2(a);

 

(e)            Indebtedness
incurred by Holdings or any Restricted Subsidiary (including letter of credit obligations consistent with past practice constituting
Reimbursement Obligations with respect to letters of credit issued in the ordinary course of business), in respect of workers’
compensation claims, deferred compensation, performance or surety bonds, health, disability or other employee benefits or property, casualty
or liability insurance or self-insurance or other Indebtedness with respect to reimbursement or indemnification type obligations regarding
workers’ compensation claims, deferred compensation, performance or surety bonds, health, disability or other employee benefits
or property, casualty or liability insurance or self-insurance;

 

(f)             Indebtedness
arising from agreements of Holdings or a Restricted Subsidiary providing for indemnification, adjustment of purchase price, earnout or
similar obligations, in each case, incurred or assumed in connection with the acquisition or disposition of any business, assets or a
Subsidiary or other Person, other than guarantees of Indebtedness incurred by any Person acquiring all or any portion of such business,
assets or a Subsidiary for the purpose of financing such acquisition;

 

(g)             Indebtedness
of Holdings to a Restricted Subsidiary; provided that any such Indebtedness owing to a Restricted Subsidiary that is not the Borrower
or a Guarantor is subordinated in right of payment to Holdings’ Guarantee; provided, further, that any subsequent
issuance or transfer of any Capital Stock or any other event which results in any such Restricted Subsidiary ceasing to be a Restricted
Subsidiary or any other subsequent transfer of any such Indebtedness (except to another Borrower or another Restricted Subsidiary) shall
be deemed, in each case to be an incurrence of such Indebtedness not permitted by this clause;

 

(h)            Indebtedness
of a Restricted Subsidiary owing to Holdings or another Restricted Subsidiary; provided that if the Borrower or a Guarantor incurs
such Indebtedness owing to a Restricted Subsidiary that is not the Borrower or a Guarantor, such Indebtedness is subordinated in right
of payment to the Guarantee of such Guarantor as the case may be; provided, further, that any subsequent transfer of any
such Indebtedness (except to Holdings or another Restricted Subsidiary) shall be deemed, in each case to be an incurrence of such Indebtedness
not permitted by this clause;

 

(i)             shares
of preferred stock of a Restricted Subsidiary issued to Holdings or another Restricted Subsidiary; provided that any subsequent
issuance or transfer of any Capital Stock or any other event which results in any such Restricted Subsidiary ceasing to be a Restricted
Subsidiary or any other subsequent transfer of any such shares of preferred stock (except to Holdings or another Restricted Subsidiary)
shall be deemed in each case to be an issuance of such shares of preferred stock not permitted by this clause;

 

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(j)             Hedging
Obligations (excluding Hedging Obligations entered into for speculative purposes);

 

(k)            obligations
in respect of self-insurance, performance, bid, appeal, and surety bonds and completion guarantees and similar obligations provided by
Holdings or any Restricted Subsidiary or obligations in respect of letters of credit, bank guarantees or similar instruments related
thereto, in each case, in the ordinary course of business or consistent with past practice;

 

(l)             (i) Indebtedness,
Disqualified Stock and preferred stock of Holdings or any Restricted Subsidiary in an aggregate principal amount or liquidation preference
(together with any Refinancing Indebtedness in respect thereof) up to 100% of the net cash proceeds received by Holdings since immediately
after the Closing Date from the issue or sale of Equity Interests of Holdings or cash contributed to the capital of Holdings (in each
case, other than Excluded Contributions, any Cure Amount or proceeds of Disqualified Stock or sales of Equity Interests to Holdings or
any of its Subsidiaries) as determined in accordance with Sections 10.5(a)(iii)(B) and 10.5(a)(iii)(C) to the
extent such net cash proceeds or cash have not been applied pursuant to such clauses to make Restricted Payments or to make other Investments,
payments or exchanges pursuant to Section 10.5(b) or to make Permitted Investments (other than Permitted Investments
specified in clauses (i) and (iii) of the definition thereof) and (ii) Indebtedness, Disqualified Stock
or preferred stock of Holdings or any Restricted Subsidiary not otherwise permitted hereunder in an aggregate principal amount or liquidation
preference, which when aggregated with the principal amount and liquidation preference of all other Indebtedness, Disqualified Stock
and preferred stock then outstanding and incurred pursuant to this clause (l)(ii), does not at any one time outstanding exceed
the greater of (x) $150,000,000 and (y) 50% of Consolidated EBITDA for the most recently ended Test Period (calculated on a
Pro Forma Basis) at the time of incurrence (it being understood that any Indebtedness, Disqualified Stock or preferred stock incurred
pursuant to this clause (l)(ii) shall cease to be deemed incurred or outstanding for purposes of this clause (l)(ii) but
shall be deemed incurred for the purposes of the first paragraph of this Section 10.1 from and after the first date on which
Holdings or such Restricted Subsidiary could have incurred such Indebtedness, Disqualified Stock or preferred stock under the first paragraph
of this Section 10.1 without reliance on this clause (l)(ii)); provided that the amount of Indebtedness (other than
Acquired Indebtedness), Disqualified Stock and preferred stock that may be incurred pursuant to the foregoing, together with any amounts
incurred under the first paragraph of this Section 10.1 and Section 10.1(n)(x) by Restricted Subsidiaries
that are not Guarantors shall not exceed the greater of (x) $120 million and (y) 40% of Consolidated EBITDA for the most recently
ended Test Period (calculated on a Pro Forma Basis) at any one time outstanding;

 

(m)           the
incurrence or issuance by Holdings or any Restricted Subsidiary of Indebtedness, Disqualified Stock or preferred stock which serves to
refinance any Indebtedness, Disqualified Stock or preferred stock incurred as permitted under the first paragraph of this Section 10.1
and clauses (b) and (c) above, clause (l)(i) and this clause (m) or clause (n) below
or any Indebtedness, Disqualified Stock or preferred stock issued to so refinance, replace, refund, extend, renew, defease, restructure,
amend, restate or otherwise modify (collectively, “refinance”) such Indebtedness, Disqualified Stock or preferred
stock (the “Refinancing Indebtedness”) prior to its respective maturity; provided, that such Refinancing Indebtedness
(1) has a weighted average life to maturity at the time such Refinancing Indebtedness is incurred which is not less than the remaining
weighted average life to maturity of the Indebtedness, Disqualified Stock or preferred stock being refinanced, (2) to the extent
such Refinancing Indebtedness refinances (i) Indebtedness that is unsecured or secured by a Lien ranking junior to the Liens securing
the Obligations, such Refinancing Indebtedness is unsecured or secured by a Lien ranking junior to the Liens securing the Obligations,
(ii) Disqualified Stock or preferred stock, such Refinancing Indebtedness must be Disqualified Stock or preferred stock, respectively,
and (iii) Indebtedness subordinated in right of payment to the Obligations, such Refinancing Indebtedness is subordinated in right
of payment to the Obligations at least to the same extent as the Indebtedness being refinanced and (3) shall not include Indebtedness,
Disqualified Stock or preferred stock of a Subsidiary of Holdings that is not the Borrower or a Guarantor that refinances Indebtedness,
Disqualified Stock or preferred stock of the Borrower or a Guarantor;

 

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(n)            Indebtedness,
Disqualified Stock or preferred stock of (x) Holdings or a Restricted Subsidiary incurred or issued to finance an acquisition, merger,
or consolidation; provided that the amount of Indebtedness (other than Acquired Indebtedness), Disqualified Stock and preferred
stock that may be incurred pursuant to the foregoing, together with any amounts incurred under the first paragraph of this Section 10.1
and Section 10.1(l)(ii) by Restricted Subsidiaries that are not Guarantors shall not exceed the greater of (i) $120,000,000
and (ii) 40% of Consolidated EBITDA for the most recently ended Test Period (calculated on a Pro Forma Basis) at any one time outstanding,
or (y) Persons that are acquired by Holdings or any Restricted Subsidiary or merged into or consolidated with Holdings or a Restricted
Subsidiary in accordance with the terms hereof (including designating an Unrestricted Subsidiary a Restricted Subsidiary); provided
that after giving effect to any such acquisition, merger, consolidation or designation described in this clause (n), either:
(1) Holdings would be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test
set forth in the first paragraph of this Section 10.1 or (2) the Fixed Charge Coverage Ratio of Holdings and the Restricted
Subsidiaries is equal to or greater than immediately prior to such acquisition, merger, consolidation or designation;

 

(o)            Indebtedness
arising from the honoring by a bank or other financial institution of a check, draft or similar instrument drawn against insufficient
funds in the ordinary course of business;

 

(p)            (i) Indebtedness
of Holdings or any Restricted Subsidiary supported by a letter of credit, in a principal amount not in excess of the stated amount of
such letter of credit so long as such letter of credit is otherwise permitted to be incurred pursuant to this Section 10.1
or (ii) obligations in respect of letters of support, guarantees or similar obligations issued, made or incurred for the benefit
of any Subsidiary of Holdings to the extent required by law or in connection with any statutory filing or the delivery of audit opinions
performed in jurisdictions other than within the United States;

 

(q)            (1) any
guarantee by Holdings or a Restricted Subsidiary of Indebtedness or other obligations of any Restricted Subsidiary so long as in the
case of a guarantee of Indebtedness by a Restricted Subsidiary that is not a Guarantor, such Indebtedness could have been incurred directly
by the Restricted Subsidiary providing such guarantee or (2) any guarantee by a Restricted Subsidiary of Indebtedness of Holdings;

 

(r)             Indebtedness
of Restricted Subsidiaries that are not Guarantors in an amount not to exceed, in the aggregate at any one time outstanding, the greater
of (x) $60,000,000 and (y) 20% of Consolidated EBITDA for the most recently ended Test Period (calculated on a Pro Forma Basis)
(it being understood that any Indebtedness incurred pursuant to this clause (r) shall cease to be deemed incurred or outstanding
for purposes of this clause (r) but shall be deemed incurred for the purposes of the first paragraph of this covenant from
and after the first date on which such Restricted Subsidiary could have incurred such Indebtedness under the first paragraph of this
covenant without reliance on this clause (r));

 

(s)            Indebtedness
of Holdings or any of the Restricted Subsidiaries consisting of (i) the financing of insurance premiums or (ii) take or pay
obligations contained in supply arrangements in each case, incurred in the ordinary course of business or consistent with past practice;

 

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(t)             (i) Indebtedness
of Holdings or any of the Restricted Subsidiaries undertaken in connection with cash management and related activities with respect to
any Subsidiary or joint venture in the ordinary course of business, including with respect to financial accommodations of the type described
in the definition of Cash Management Services and (ii) Indebtedness owed on a short-term basis of no longer than 30 days to banks
and other financial institutions incurred in the ordinary course of business of the Borrower and its Restricted Subsidiaries with such
banks or financial institutions that arises in connection with ordinary banking arrangements to manage cash balances of the Borrower
and its Restricted Subsidiaries;

 

(u)            Indebtedness
consisting of Indebtedness issued by Holdings or any of the Restricted Subsidiaries to future, current or former officers, directors,
managers and employees thereof, their respective estates, spouses or former spouses, in each case to finance the purchase or redemption
of Equity Interests of Holdings or any direct or indirect parent company of Holdings to the extent described in clause (4) of
Section 10.5(b);

 

(v)            Indebtedness
in respect of a Receivables Facility;

 

(w)            Indebtedness
in respect of (i) Permitted Other Indebtedness to the extent that the Net Cash Proceeds therefrom are applied to the prepayment
of Term Loans in the manner set forth in Section 5.2(a)(i); and (ii) any refinancing, refunding, renewal or extension
of any Indebtedness specified in subclause (i) above; provided that (x) the principal amount of any such Indebtedness
is not increased above the principal amount thereof outstanding immediately prior to such refinancing, refunding, renewal or extension
(except for any original issue discount thereon and the amount of fees, expenses, and premium and accrued and unpaid interest in connection
with such refinancing) and (y) such Indebtedness otherwise complies with the definition of Permitted Other Indebtedness;

 

(x)             Indebtedness
in respect of (i) Permitted Other Indebtedness; provided that either (a) the aggregate principal amount of all such
Permitted Other Indebtedness issued or incurred pursuant to this clause (i)(a) shall not exceed the Maximum Incremental Facilities
Amount or (b) the Net Cash Proceeds thereof shall be applied no later than ten Business Days after the receipt thereof to repurchase,
repay, redeem or otherwise defease Permitted Other Indebtedness (provided, in the case of this clause (i)(b), such Permitted
Other Indebtedness is unsecured or secured by a Lien ranking junior to the Lien securing the Obligations) and (ii) any refinancing,
refunding, renewal or extension of any Indebtedness specified in subclause (i) above; provided that (x) the principal
amount of any such Indebtedness is not increased above the principal amount thereof outstanding immediately prior to such refinancing,
refunding, renewal or extension (except for any original issue discount thereon and the amount of fees, expenses and premium and accrued
and unpaid interest in connection with such refinancing) and (y) such Indebtedness otherwise complies with the definition of Permitted
Other Indebtedness; and

 

(y)            (i) Indebtedness
in respect of Permitted Debt Exchange Notes incurred pursuant to a Permitted Debt Exchange in accordance with Section 2.15
(and which does not generate any additional proceeds) and (ii) any refinancing, refunding, renewal or extension of any Indebtedness
specified in subclause (i) above; provided that (x) the principal amount of any such Indebtedness is not increased
above the principal amount thereof outstanding immediately prior to such refinancing, refunding, renewal or extension (except for any
original issue discount thereon and the amount of fees, expenses, and premium and accrued and unpaid interest in connection with such
refinancing) and (y) such Indebtedness otherwise complies with the definition of Permitted Other Indebtedness.

 

For purposes of determining compliance with this
Section 10.1: (i) in the event that an item of Indebtedness, Disqualified Stock or preferred stock (or any portion thereof)
meets the criteria of more than one of the categories of permitted Indebtedness, Disqualified Stock or preferred stock described in clauses
(a) through (y) above or is entitled to be incurred pursuant to the first paragraph of this Section 10.1,
Holdings, in its sole discretion, will classify and may reclassify (including within the definition of Maximum Incremental Facilities
Amount) such item of Indebtedness, Disqualified Stock or preferred stock (or any portion thereof) and will only be required to include
the amount and type of such Indebtedness, Disqualified Stock or preferred stock in one of the above clauses or paragraphs; and (ii) at
the time of incurrence, Holdings will be entitled to divide and classify an item of Indebtedness in more than one of the types of Indebtedness
described in this Section 10.1.

 

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Accrual of interest or dividends, the accretion
of accreted value, the accretion or amortization of original issue discount and the payment of interest or dividends in the form of additional
Indebtedness, Disqualified Stock or preferred stock will not be deemed to be an incurrence of Indebtedness, Disqualified Stock or preferred
stock for purposes of this covenant. Any Refinancing Indebtedness and any Indebtedness incurred to refinance Indebtedness incurred pursuant
to clauses (a) and (l)(i) above shall be deemed to include additional Indebtedness, Disqualified Stock or preferred
stock incurred to pay premiums (including reasonable tender premiums), defeasance costs, fees, and expenses in connection with such refinancing.

 

For purposes of determining compliance with any
Dollar-denominated restriction on the incurrence of Indebtedness, the principal amount of Indebtedness denominated in another currency
shall be calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was incurred, in the case of
term debt, or first committed, in the case of revolving credit debt; provided that if such Indebtedness is incurred to refinance
other Indebtedness denominated in another currency, and such refinancing would cause the applicable Dollar-denominated restriction to
be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such Dollar-denominated restriction
shall be deemed not to have been exceeded so long as the principal amount of such Refinancing Indebtedness does not exceed (i) the
principal amount of such Indebtedness being refinanced plus (ii) the aggregate amount of fees, underwriting discounts, premiums,
and other costs and expenses and accrued and unpaid interest incurred in connection with such refinancing.

 

The principal amount of any Indebtedness incurred
to refinance other Indebtedness, if incurred in a different currency from the Indebtedness being refinanced, shall be calculated based
on the currency exchange rate applicable to the currencies in which such respective Indebtedness is denominated that is in effect on
the date of such refinancing.

 

This Agreement will not treat (1) unsecured
Indebtedness as subordinated or junior to secured Indebtedness merely because it is unsecured or (2) senior Indebtedness as subordinated
or junior to any other senior Indebtedness merely because it has a junior priority with respect to the same collateral.

 

10.2          Limitation
on Liens.

 

(a)            Holdings
will not, and will not permit any of the Restricted Subsidiaries to, create, incur, assume or suffer to exist any Lien upon any property
or assets of any kind (real or personal, tangible or intangible) of Holdings or any Restricted Subsidiary, whether now owned or hereafter
acquired (each, a “Subject Lien”) that secures obligations under any Indebtedness on any asset or property of Holdings
or any Restricted Subsidiary, except:

 

(i)            if
such Subject Lien is a Permitted Lien;

 

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(ii)            any
other Subject Lien if the obligations secured by such Subject Lien are junior to the Obligations; provided that at the Borrower’s
election, in the case of Liens securing Permitted Other Indebtedness Obligations, the applicable Permitted Other Indebtedness Secured
Parties (or a representative thereof on behalf of such holders) shall enter into security documents with terms and conditions not materially
more restrictive to the Credit Parties, taken as a whole, than the terms and conditions of the Security Documents and shall (x) in
the case of the first such issuance of Permitted Other Indebtedness, the Collateral Agent, the Administrative Agent and the representative
of the holders of such Permitted Other Indebtedness Obligations shall have entered into the Second Lien Intercreditor Agreement and (y) in
the case of subsequent issuances of Permitted Other Indebtedness, the representative for the holders of such Permitted Other Indebtedness
shall have become a party to the Second Lien Intercreditor Agreement in accordance with the terms thereof; and without any further consent
of the Lenders, the Administrative Agent and the Collateral Agent shall be authorized to execute and deliver on behalf of the Secured
Parties the First Lien Intercreditor Agreement and the Second Lien Intercreditor Agreement contemplated by this clause (ii); and

 

(iii)            in
the case of any other Subject Lien on assets or property not constituting Collateral, any Subject Lien if (i) the Obligations are
equally and ratably secured with (or on a senior basis to, in the case such Subject Lien secures any Junior Debt) the obligations secured
by such Subject Lien or (ii) such Subject Lien is a Permitted Lien.

 

(b)            Any
Lien created for the benefit of the Secured Parties pursuant to the Section 10.2(a)(iii) shall provide by its terms
that such Lien shall be automatically and unconditionally be released and discharged upon the release and discharge of the Subject Lien
that gave rise to the obligation to so secure the Obligations.

 

10.3          Limitation
on Fundamental Changes. Holdings will not, and will not permit any of the Restricted Subsidiaries to, enter into any merger, consolidation
or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation or dissolution), or convey, sell, lease, assign,
transfer or otherwise dispose of, all or substantially all its business units, assets or other properties, except that:

 

(a)            so
long as no Event of Default has occurred and is continuing or would result therefrom, any Subsidiary of Holdings or any other Person
may be merged, amalgamated or consolidated with or into Holdings or the Borrower; provided that (A) Holdings or the Borrower
shall be the continuing or surviving corporation or (B) if the Person formed by or surviving any such merger, amalgamation or consolidation
is not Holdings or the Borrower (such other Person, the “Successor Borrower”), (1) the Successor Borrower shall
be an entity organized or existing under the laws of the United States, any state thereof, the District of Columbia or any territory
thereof, (2) the Successor Borrower shall expressly assume all the obligations of Holdings or the Borrower under this Agreement
and the other Credit Documents pursuant to a supplement hereto or thereto or in a form otherwise reasonably satisfactory to the Administrative
Agent, (3) each Guarantor, unless it is the other party to such merger, amalgamation or consolidation, shall have by a supplement
to the Guarantee confirmed that its guarantee thereunder shall apply to any Successor Borrower’s obligations under this Agreement,
(4) each Subsidiary grantor and each Subsidiary pledgor, unless it is the other party to such merger, amalgamation or consolidation,
shall have by a supplement to any applicable Security Document affirmed that its obligations thereunder shall apply to its Guarantee
as reaffirmed pursuant to clause (3), (5) each mortgagor of a Mortgaged Property, unless it is the other party to such merger,
amalgamation or consolidation, shall have affirmed that its obligations under the applicable Mortgage shall apply to its Guarantee as
reaffirmed pursuant to clause (3), (6) the Successor Borrower shall have delivered to the Administrative Agent (x) an
officer’s certificate stating that such merger, amalgamation, or consolidation and such supplements preserve the enforceability
of the Guarantee and the perfection and priority of the Liens under the applicable Security Documents and (y) if requested by the
Administrative Agent, an opinion of counsel to the effect that such merger, amalgamation, or consolidation does not violate this Agreement
or any other Credit Document and that the provisions set forth in the preceding clauses (3) through (5) preserve
the enforceability of the Guarantee and the perfection of the Liens created under the applicable Security Documents (it being understood
that if the foregoing are satisfied, the Successor Borrower will succeed to, and be substituted for, the Borrower under this Agreement),
and (7) the Successor Borrower shall have delivered to the Administrative Agent such documentation and information as is reasonably
requested in writing by the Administrative Agent about the Credit Parties to the extent the Administrative Agent and Holdings in good
faith mutually agree is required by regulatory authorities under applicable “know your customer” and anti-money laundering
rules and regulations, including, without limitation, the Patriot Act;

 

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(b)            so
long as no Event of Default has occurred and is continuing or would result therefrom, any Subsidiary of Holdings or any other Person
(in each case, other than the Borrower) may be merged, amalgamated or consolidated with or into any one or more Subsidiaries of Holdings;
provided that (i) in the case of any merger, amalgamation or consolidation involving one or more Restricted Subsidiaries,
(A) a Restricted Subsidiary shall be the continuing or surviving Person or (B) Holdings shall cause the Person formed by or
surviving any such merger, amalgamation or consolidation (if other than a Restricted Subsidiary) to become a Restricted Subsidiary, (ii) in
the case of any merger, amalgamation or consolidation involving one or more Guarantors, a Guarantor shall be the continuing or surviving
Person or the Person formed by or surviving any such merger, amalgamation or consolidation and if the surviving Person is not already
a Guarantor, such Person shall execute a supplement to the Guarantee and the relevant Security Documents in form and substance reasonably
satisfactory to the Administrative Agent in order to become a Guarantor and pledgor, mortgagor and grantor, as applicable, thereunder
for the benefit of the Secured Parties, and (iii) Holdings shall have delivered to the Administrative Agent an officer’s certificate
stating that such merger, amalgamation or consolidation and any such supplements to any Security Document preserve the enforceability
of the Guarantees and the perfection and priority of the Liens under the applicable Security Documents;

 

(c)            [Reserved];

 

(d)            (i) any
Restricted Subsidiary that is not a Credit Party may convey, sell, lease, assign, transfer or otherwise dispose of any or all of its
assets (upon voluntary liquidation or dissolution or otherwise) to Holdings or any other Restricted Subsidiary or (ii) any Credit
Party (other than the Borrower) may convey, sell, lease, assign, transfer or otherwise dispose of any or all of its assets (upon voluntary
liquidation or dissolution or otherwise) to any other Credit Party;

 

(e)            any
Subsidiary may convey, sell, lease, assign, transfer or otherwise dispose of any or all of its assets (upon voluntary liquidation or
dissolution or otherwise) to a Credit Party; provided that the consideration for any such disposition by any Person other than
a Guarantor shall not exceed the fair value of such assets;

 

(f)             any
Restricted Subsidiary (other than the Borrower) may liquidate or dissolve if Holdings determines in good faith that such liquidation
or dissolution is in the best interests of Holdings and is not materially disadvantageous to the Lenders;

 

(g)            Holdings
and the Restricted Subsidiaries may consummate a merger, dissolution, liquidation, consolidation, investment or conveyance, sale, lease,
assignment or disposition, the purpose of which is to effect an Asset Sale (which for purposes of this Section 10.3(g), will
include any disposition below the dollar threshold set forth in clause (d) of the definition of “Asset Sale”) permitted
by Section 10.4 or an investment permitted pursuant to Section 10.5 or an investment that constitutes a Permitted
Investment; and

 

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(h)            so
long as no Event of Default has occurred and is continuing or would result therefrom, Holdings or any Restricted Subsidiary may change
its legal form.

 

10.4            Limitation
on Sale of Assets. Holdings will not, and will not permit any Restricted Subsidiary to, consummate an Asset Sale, unless:

 

(a)            Holdings
or such Restricted Subsidiary, as the case may be, receives consideration at the time of such Asset Sale at least equal to the Fair Market
Value (as determined at the time of contractually agreeing to such Asset Sale) of the assets sold or otherwise disposed of; and

 

(b)            except
in the case of a Permitted Asset Swap, if the property or assets sold or otherwise disposed of have a Fair Market Value in excess of
the greater of (x) $45,000,000 and (y) 1.5% of Consolidated Total Assets (calculated on a Pro Forma Basis) at the time of such
disposition, either (A) at least 75% of the consideration therefor received by Holdings or such Restricted Subsidiary, as the case
may be, is in the form of cash or Cash Equivalents or (B) at least 50% of the consideration therefor received by the Borrower or
such Restricted Subsidiary, as the case may be, is in the form of cash or Cash Equivalents (provided that the Net Cash Proceeds
received pursuant to this clause (B) must be used to repay the Loans in accordance with Section 5.2(a) (and without
regard to any de minimis thresholds or reinvestment rights) within three (3) Business Days of receipt thereof); provided
that the amount of:

 

(i)            any
liabilities (as reflected on Holdings’ most recent consolidated balance sheet or in the footnotes thereto, or if incurred or accrued
subsequent to the date of such balance sheet, such liabilities that would have been reflected on Holdings’ consolidated balance
sheet or in the footnotes thereto if such incurrence or accrual had taken place on or prior to the date of such balance sheet, as determined
in good faith by Holdings) of Holdings, other than liabilities that are by their terms subordinated to the Loans, that are assumed by
the transferee of any such assets (or are otherwise extinguished in connection with the transactions relating to such Asset Sale) and
for which Holdings and all such Restricted Subsidiaries have been validly released by all applicable creditors in writing;

 

(ii)            any
securities, notes or other obligations or assets received by Holdings or such Restricted Subsidiary from such transferee that are converted
by Holdings or such Restricted Subsidiary into cash or Cash Equivalents, or by their terms are required to be satisfied for cash or Cash
Equivalents (to the extent of the cash or Cash Equivalents received), in each case, within 180 days following the closing of such Asset
Sale;

 

(iii)          Indebtedness,
other than liabilities that are by their terms subordinated to the Loans, that are of any Restricted Subsidiary that is no longer a Restricted
Subsidiary as a result of such Asset Sale, to the extent that Holdings and all Restricted Subsidiaries have been validly released from
any Guarantee of payment of such Indebtedness in connection with such Asset Sale; and

 

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(iv)           any
Designated Non-Cash Consideration received by Holdings or such Restricted Subsidiary in such Asset Sale having an aggregate Fair Market
Value, taken together with all other Designated Non-Cash Consideration received pursuant to this clause (iv) that is at that
time outstanding, not to exceed the greater of (x) $175,000,000 and (y) 6.00% of Consolidated Total Assets (calculated on a
Pro Forma Basis) at the time of the receipt of such Designated Non-Cash Consideration, with the Fair Market Value of each item of Designated
Non-Cash Consideration being measured at the time received and without giving effect to subsequent changes in value,

 

shall be deemed to be cash for purposes of this
clause (b) of this provision and for no other purpose.

 

Notwithstanding the foregoing,
in no event shall any of Holdings, the Borrower or any Restricted Subsidiary permit any Asset Sale which results in any intellectual
property or rights thereto that are material to the business or operations of Holdings, the Borrower and the Restricted Subsidiaries,
taken as a whole, being transferred to any Unrestricted Subsidiary.

 

(c)            Within
the Reinvestment Period after Holdings’ or any Restricted Subsidiary’s receipt of the Net Cash Proceeds of any Asset Sale,
Holdings or such Restricted Subsidiary shall apply the Net Cash Proceeds from such Asset Sale:

 

(i)            
(x) to prepay Loans or Permitted Other Indebtedness in accordance with Section 5.2(a)(i) or (y) to the
extent not required to prepay Loans pursuant to Section 5.2(a)(i) or Section 10.4(b), be retained by
the Borrower and/or Restricted Subsidiaries (any such amounts, “Retained Asset Sale Proceeds”); and/or

 

(ii)            to
make investments in the Borrower and its Subsidiaries; provided that Holdings and the Restricted Subsidiaries will be deemed to
have complied with this clause (ii) if and to the extent that, within the Reinvestment Period after the Asset Sale that generated
the Net Cash Proceeds, Holdings or such Restricted Subsidiary has entered into and not abandoned or rejected a binding agreement to consummate
any such investment described in this clause (ii) with the good faith expectation that such Net Cash Proceeds will be applied
to satisfy such commitment within 180 days of such commitment and, in the event any such commitment is later cancelled or terminated
for any reason before the Net Cash Proceeds are applied in connection therewith, Holdings or such Restricted Subsidiary prepays the Loans
in accordance with Section 5.2(a)(i).

 

(d)         
  Pending the final application of any Net Cash Proceeds pursuant to this covenant, Holdings or the applicable Restricted
Subsidiary may apply such Net Cash Proceeds temporarily to reduce Indebtedness outstanding under the Revolving Credit Facility or
any other revolving credit facility or otherwise invest such Net Cash Proceeds in any manner not prohibited by this Agreement.

 

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10.5          Limitation
on Restricted Payments.

 

(a)            Holdings
will not, and will not permit any Restricted Subsidiary to, directly or indirectly:

 

(1)            declare
or pay any dividend or make any payment or distribution on account of Holdings’ or any Restricted Subsidiary’s Equity Interests,
including any dividend or distribution payable in connection with any merger or consolidation, other than:

 

(A)           dividends
or distributions by Holdings payable in Equity Interests (other than Disqualified Stock) of Holdings or in options, warrants or other
rights to purchase such Equity Interests, or

 

(B)           dividends
or distributions by a Restricted Subsidiary so long as, in the case of any dividend or distribution payable on or in respect of any class
or series of securities issued by a Subsidiary other than a Wholly-Owned Subsidiary, Holdings or a Restricted Subsidiary receives at
least its pro rata share of such dividend or distribution in accordance with its Equity Interests in such class or series of securities;

 

(2)            purchase,
redeem, defease or otherwise acquire or retire for value any Equity Interests of Holdings or any direct or indirect parent company of
Holdings, including in connection with any merger or consolidation;

 

(3)            make
any principal payment on, or redeem, repurchase, defease or otherwise acquire or retire for value in each case, prior to any scheduled
repayment, sinking fund payment or maturity, any Junior Debt of Holdings or any Restricted Subsidiary, other than (A) Indebtedness
permitted under clauses (g) and (h) of Section 10.1 or (B) the purchase, repurchase or other
acquisition of Junior Debt purchased in anticipation of satisfying a sinking fund obligation, principal installment or final maturity,
in each case due within one year of the date of purchase, repurchase or acquisition; or

 

(4)            make
any Restricted Investment;

 

(all such payments and other actions set forth
in clauses (1) through (4) above (other than any exception thereto) being collectively referred to as “Restricted
Payments”), unless, at the time of such Restricted Payment:

 

(i)            other
than with respect to Restricted Payments made in reliance on clauses (B), (C) and (G) of the definition
of Available Amount, no Event of Default shall have occurred and be continuing or would occur as a consequence thereof (or in the case
of a Restricted Investment, no Event of Default under Section 11.1 or 11.5 shall have occurred and be continuing or
would occur as a consequence thereof);

 

(ii)            [reserved];
and

 

(iii)            such
Restricted Payment, together with the aggregate amount of all other Restricted Payments made by Holdings and the Restricted Subsidiaries
after the Fifth Amendment Effective Date (including Restricted Payments permitted by clauses (1), (2) (with respect
to the payment of dividends on Refunding Capital Stock pursuant to clause (b) thereof only) and (6)(C) of Section 10.5(b) below,
but excluding all other Restricted Payments permitted by Section 10.5(b)), is less than the sum of (without duplication)
(the sum of the amounts attributable to clauses (A) through (G) below is referred to herein as the “Available Amount”):

 

(A)           (i) 100%
of Consolidated EBITDA during the most recent Test Period less (ii) the Fixed Charges during such period multiplied by 1.50, plus

 

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(B)            100%
of the aggregate net cash proceeds and the Fair Market Value of marketable securities or other property received by Holdings since immediately
after the Closing Date (other than (i) net cash proceeds to the extent such net cash proceeds have been used to incur Indebtedness,
Disqualified Stock or preferred stock pursuant to clause (l)(i) of Section 10.1 and (ii) proceeds from Cure
Amounts and amounts received from a Restricted Subsidiary) from the issue or sale of (x) Equity Interests of Holdings, including
Retired Capital Stock, but excluding cash proceeds and the Fair Market Value of marketable securities or other property received from
the sale of (A) Equity Interests to any employee, director, manager or consultant of Holdings, any direct or indirect parent company
of Holdings and Holdings’ Subsidiaries after the Closing Date to the extent such amounts have been applied to Restricted Payments
made in accordance with clause (4) of Section 10.5(b) below, and (B) Designated Preferred Stock, and,
to the extent such net cash proceeds are actually contributed to Holdings, Equity Interests of any direct or indirect parent company
of Holdings (excluding contributions of the proceeds from the sale of Designated Preferred Stock of such companies or contributions to
the extent such amounts have been applied to Restricted Payments made in accordance with clause (4) of Section 10.5(b) below)
or (y) Indebtedness of Holdings or a Restricted Subsidiary that has been converted into or exchanged for such Equity Interests of
Holdings or any direct or indirect parent company of Holdings; provided that this clause (B) shall not include the
proceeds from (a) Refunding Capital Stock, (b) Equity Interests or Indebtedness that has been converted or exchanged for Equity
Interests of Holdings sold to a Restricted Subsidiary or Holdings, as the case may be, (c) Disqualified Stock or Indebtedness that
has been converted or exchanged into Disqualified Stock or (d) Excluded Contributions, plus

 

(C)            100%
of the aggregate amount of cash and the Fair Market Value of marketable securities or other property contributed to the capital of Holdings
following the Closing Date (other than net cash proceeds from Cure Amounts or to the extent such net cash proceeds (i) have been
used to incur Indebtedness, Disqualified Stock or preferred stock pursuant to clause (l)(i) of Section 10.1),
(ii) are contributed by a Restricted Subsidiary or (iii) constitute Excluded Contributions), plus

 

(D)            100%
of the aggregate amount received in cash and the Fair Market Value of marketable securities or other property received by means of (A) the
sale or other disposition (other than to Holdings or a Restricted Subsidiary) of Restricted Investments made by Holdings and the Restricted
Subsidiaries and repurchases and redemptions of such Restricted Investments from Holdings and the Restricted Subsidiaries and repayments
of loans or advances, and releases of guarantees, which constitute Restricted Investments made by Holdings or the Restricted Subsidiaries,
in each case, after the Closing Date; or (B) the sale (other than to Holdings or a Restricted Subsidiary) of the stock of an Unrestricted
Subsidiary or a distribution from an Unrestricted Subsidiary (other than in each case to the extent the Investment in such Unrestricted
Subsidiary was made by Holdings or a Restricted Subsidiary pursuant to clause (7) of Section 10.5(b) below
at the time made or to the extent such Investment constituted a Permitted Investment) or a dividend or distribution from an Unrestricted
Subsidiary after the Closing Date; provided that such amount shall not be in excess of the amount of the original Investment,
plus

 

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(E)            in
the case of the redesignation of an Unrestricted Subsidiary as a Restricted Subsidiary after the Closing Date, the Fair Market Value
of the Investment in such Unrestricted Subsidiary at the time of the redesignation of such Unrestricted Subsidiary as a Restricted Subsidiary,
other than to the extent the Investment in such Unrestricted Subsidiary was made by Holdings or a Restricted Subsidiary pursuant to clause
(7) of Section 10.5(b) below at the time made or to the extent such Investment constituted a Permitted Investment;
provided that such amount shall not be in excess of the amount of the original Investment, plus

 

(F)            the
aggregate amount of any Retained Declined Proceeds and Retained Asset Sale Proceeds since the Closing Date, plus

 

(G)            an
aggregate amount not to exceed the greater of $120 million and 40% of Consolidated EBITDA for the most recently ended Test Period (calculated
on a Pro Forma Basis).

 

(b)            The
foregoing provisions of Section 10.5(a) will not prohibit:

 

(1)            the
payment of any dividend or distribution or the consummation of any irrevocable redemption within 60 days after the date of declaration
thereof or the giving of such irrevocable notice, as applicable, if at the date of declaration or the giving of such notice such payment
would have complied with the provisions of this Agreement;

 

(2)            (a) the
redemption, repurchase, retirement or other acquisition of any Equity Interests (“Retired Capital Stock”) or Junior
Debt of Holdings or any Restricted Subsidiary, or any Equity Interests of any direct or indirect parent company of Holdings, in exchange
for, or out of the proceeds of the substantially concurrent sale or issuance (other than to a Restricted Subsidiary) of, Equity Interests
of Holdings or any direct or indirect Parent Entity or management investment vehicle to the extent contributed to Holdings (in each case,
other than any Disqualified Stock) (“Refunding Capital Stock”) and (b) if immediately prior to the retirement
of Retired Capital Stock, the declaration and payment of dividends thereon was permitted under clause (6) of this Section 10.5(b),
the declaration and payment of dividends on the Refunding Capital Stock (other than Refunding Capital Stock the proceeds of which were
used to redeem, repurchase, retire or otherwise acquire any Equity Interests of any direct or indirect Parent Entity or management investment
vehicle) in an aggregate amount per year no greater than the aggregate amount of dividends per annum that was declarable and payable
on such Retired Capital Stock immediately prior to such retirement;

 

(3)            the
prepayment, redemption, defeasance, repurchase or other acquisition or retirement for value of Junior Debt of Holdings or a Restricted
Subsidiary made by exchange for, or out of the proceeds of the substantially concurrent sale of, new Indebtedness of Holdings, or a Restricted
Subsidiary, as the case may be, which is incurred in compliance with Section 10.1 so long as: (A) the principal amount
(or accreted value, if applicable) of such new Indebtedness does not exceed the principal amount of (or accreted value, if applicable),
plus any accrued and unpaid interest on the Junior Debt being so redeemed, defeased, repurchased, exchanged, acquired or retired for
value, plus the amount of any premium (including reasonable tender premiums), defeasance costs and any reasonable fees and expenses incurred
in connection with the issuance of such new Indebtedness, (B) if such Junior Debt is subordinated to the Obligations, such new Indebtedness
is subordinated to the Obligations or the applicable Guarantee at least to the same extent as such Junior Debt so purchased, exchanged,
redeemed, defeased, repurchased, acquired or retired for value, (C) such new Indebtedness has a final scheduled maturity date equal
to or later than the final scheduled maturity date of the Junior Debt being so redeemed, defeased, repurchased, exchanged, acquired or
retired, (D) if such Junior Debt so purchased, exchanged, redeemed, repurchased, acquired or retired for value is (i) unsecured
then such new Indebtedness shall be unsecured or (ii) Permitted Other Indebtedness incurred pursuant to Section 10.1(x)(i)(b) and
is secured by a Lien ranking junior to the Liens securing the Obligations then such new Indebtedness shall be unsecured or secured by
a Lien ranking junior to the Liens securing the Obligations, and (E) such new Indebtedness has a weighted average life to maturity
equal to or greater than the remaining weighted average life to maturity of the Junior Debt being so redeemed, defeased, repurchased,
exchanged, acquired or retired;

 

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(4)            a
Restricted Payment to pay for the repurchase, retirement or other acquisition or retirement for value of Equity Interests (other than
Disqualified Stock) of Holdings or any direct or indirect Parent Entity or management investment vehicle held by any future, present
or former employee, director, manager or consultant of Holdings, any of its Subsidiaries or any direct or indirect Parent Entity, or
their estates, descendants, family, spouse or former spouse pursuant to any management equity plan or stock option or phantom equity
plan or any other management or employee benefit plan or agreement, or any stock subscription or shareholder agreement (including, for
the avoidance of doubt, any principal and interest payable on any notes issued by Holdings or any direct or indirect Parent Entity or
management investment vehicle in connection with such repurchase, retirement or other acquisition), including any Equity Interests rolled
over by management of Holdings or any direct or indirect Parent Entity or management investment vehicle in connection with the Transactions;
provided that, except with respect to non-discretionary purchases, the aggregate Restricted Payments made under this clause
(4) subsequent to the Fifth Amendment Effective Date do not exceed in any calendar year the greater of (x) $50,000,000
and (y) 17% of Consolidated EBITDA for the most recently ended Test Period (calculated on a Pro Forma Basis) (with unused amounts
in any calendar year being carried over to succeeding calendar years); provided, further, that such amount in any calendar
year may be increased by an amount not to exceed: (A) the cash proceeds from the sale of Equity Interests (other than Disqualified
Stock) of Holdings and, to the extent contributed to Holdings, the cash proceeds from the sale of Equity Interests of any direct or indirect
Parent Entity or management investment vehicle, in each case to any future, present or former employees, directors, managers or consultants
of Holdings, any of its Subsidiaries or any direct or indirect Parent Entity or management investment vehicle that occurs after the Closing
Date, to the extent the cash proceeds from the sale of such Equity Interests have not otherwise been applied to the payment of Restricted
Payments by virtue of Section 10.5(a)(iii), plus (B) the cash proceeds of key man life insurance policies received by
Holdings and the Restricted Subsidiaries after the Closing Date, less (C) the amount of any Restricted Payments previously made
pursuant to clauses (A) and (B) of this clause (4); and provided, further, that cancellation
of Indebtedness owing to Holdings or any Restricted Subsidiary from any future, present or former employees, directors, managers or consultants
of Holdings, any direct or indirect Parent Entity or management investment vehicle or any Restricted Subsidiary, or their estates, descendants,
family, spouse or former spouse in connection with a repurchase of Equity Interests of Holdings or any direct or indirect Parent Entity
or management investment vehicle will not be deemed to constitute a Restricted Payment for purposes of this Section 10.5
or any other provision of this Agreement;

 

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(5)            the
declaration and payment of dividends to holders of any class or series of Disqualified Stock of Holdings or any Restricted Subsidiary
or any class or series of preferred stock of any Restricted Subsidiary, in each case, issued in accordance with Section 10.1
to the extent such dividends are included in the definition of Fixed Charges;

 

(6)            (A) the
declaration and payment of dividends to holders of any class or series of Designated Preferred Stock (other than Disqualified Stock)
issued by Holdings after the Closing Date; (B) the declaration and payment of dividends to any direct or indirect parent company
of Holdings, the proceeds of which will be used to fund the payment of dividends to holders of any class or series of Designated Preferred
Stock (other than Disqualified Stock) of such parent company issued after the Closing Date; provided that the amount of dividends
paid pursuant to this clause (B) shall not exceed the aggregate amount of cash actually contributed to Holdings from the
sale of such Designated Preferred Stock; or (C) the declaration and payment of dividends on Refunding Capital Stock in excess of
the dividends declarable and payable thereon pursuant to clause (2) of this Section 10.5(b); provided
that, in the case of each of (A), (B), and (C) of this clause (6), for the most recently ended four full fiscal quarters
for which internal financial statements are available immediately preceding the date of issuance of such Designated Preferred Stock or
the declaration of such dividends on Refunding Capital Stock, after giving effect to such issuance or declaration on a pro forma basis,
Holdings and the Restricted Subsidiaries on a consolidated basis would have had a Fixed Charge Coverage Ratio of at least 2.00 to 1.00;

 

(7)            Investments
in Unrestricted Subsidiaries having an aggregate Fair Market Value, taken together with all other Investments made pursuant to this clause
(7) that are at the time outstanding, without giving effect to the sale of an Unrestricted Subsidiary to the extent the proceeds
of such sale do not consist of cash, Cash Equivalents or marketable securities, not to exceed the greater of (x) $75,000,000 and
(y) 25% of Consolidated EBITDA for the most recently ended Test Period (calculated on a Pro Forma Basis) at the time of such Investment
(with the Fair Market Value of each Investment being measured at the time made and without giving effect to subsequent changes in value);

 

(8)            (i) payments
made or expected to be made by Holdings or any Restricted Subsidiary in respect of withholding or similar taxes payable upon exercise
of Equity Interests by any future, present or former employee, director, manager, or consultant and repurchases of Equity Interests deemed
to occur upon exercise of stock options or warrants if such Equity Interests represent a portion of the exercise price of such options
or warrants and (ii) payments or other adjustments to outstanding Equity Interests in accordance with any management equity plan,
stock option plan or any other similar employee benefit plan, agreement or arrangement in connection with any Restricted Payment;

 

(9)            the
declaration and payment of dividends on Holdings’ common stock (or the payment of dividends to any direct or indirect parent company
of Holdings to fund a payment of dividends on such company’s common stock), in an amount on an aggregate basis not to exceed the
sum of (a) 6.00% per annum of the net cash proceeds received by or contributed to Holdings in or from its initial public offering,
other than public offerings with respect to Holdings’ common stock registered on Form S-8 and other than any public sale constituting
an Excluded Contribution and (b) an aggregate amount not to exceed 7.00% of the market capitalization of the Borrower;

 

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(10)          Restricted
Payments in an amount that does not exceed the amount of Excluded Contributions made since the Closing Date;

 

(11)          other
Restricted Payments in an aggregate amount taken together with all other Restricted Payments made pursuant to this clause not to exceed
the greater of (x) $90,000,000 and (y) 30% of Consolidated EBITDA for the most recently ended Test Period (calculated on a
Pro Forma Basis) at the time made;

 

(12)          distributions
or payments of Receivables Fees;

 

(13)          any
Restricted Payment made in connection with the Transactions and the fees and expenses related thereto or used to fund amounts owed to
Affiliates (including dividends to any direct or indirect parent company of Holdings to permit payment by such parent of such amount),
to the extent permitted by Section 9.9 (other than clause (b) thereof), and Restricted Payments in respect of
working capital adjustments or purchase price adjustments pursuant to any Permitted Acquisition or other Permitted Investment and to
satisfy indemnity and other similar obligations under any Permitted Acquisitions or other Permitted Investments;

 

(14)          other
Restricted Payments; provided that after giving Pro Forma Effect to such Restricted Payments the Consolidated Total Debt to Consolidated
EBITDA Ratio is equal to or less than 4.00:1.00, provided that, with respect to Investments and the prepayment, redemption, defeasance,
repurchase or other acquisition or retirement or value of Junior Debt, the Consolidated Total Debt to Consolidated EBITDA Ratio is equal
to or less than 4.25:1.00;

 

(15)          the
declaration and payment of dividends or distributions by Holdings to, or the making of loans to, any direct or indirect parent company
of Holdings in amounts required for any direct or indirect parent company to pay: (A) franchise and excise taxes, and other fees
and expenses, required to maintain its organizational existence or qualification to do business, (B) consolidated, combined or similar
foreign, federal, state and local income and similar taxes, to the extent that such income taxes are attributable to the income of Holdings
and the Restricted Subsidiaries and, to the extent of the amount actually received from its Unrestricted Subsidiaries, in amounts required
to pay such taxes to the extent attributable to the income of such Unrestricted Subsidiaries, provided that in each case the amount
of such payments with respect to any fiscal year does not exceed the amount that Holdings, the Restricted Subsidiaries and the Unrestricted
Subsidiaries (to the extent described above) would have been required to pay in respect of such foreign, federal, state and local income
taxes for such fiscal year had Holdings, the Restricted Subsidiaries and the Unrestricted Subsidiaries (to the extent described above)
been a stand-alone taxpayer or stand-alone group (separate from any such direct or indirect parent company of Holdings) for all fiscal
years ending after the Closing Date, (C) customary salary, bonus, and other benefits payable to officers, employees, directors,
and managers of any direct or indirect parent company of Holdings to the extent such salaries, bonuses, and other benefits are attributable
to the ownership or operation of Holdings and the Restricted Subsidiaries, including Holdings’ proportionate share of such amount
relating to such parent company being a public company, (D) general corporate or other operating (including, without limitation,
expenses related to auditing or other accounting matters) and overhead costs and expenses of any direct or indirect parent company of
Holdings to the extent such costs and expenses are attributable to the ownership or operation of Holdings and the Restricted Subsidiaries,
including Holdings’ proportionate share of such amount relating to such parent company being a public company, (E) amounts
required for any direct or indirect parent company of Holdings to pay fees and expenses incurred by any direct or indirect parent company
of Holdings related to (i) the maintenance by such parent entity of its corporate or other entity existence and (ii) transactions
of such parent company of Holdings of the type described in clause (xi) of the definition of Consolidated Net Income, (F) cash
payments in lieu of issuing fractional shares in connection with the exercise of warrants, options or other securities convertible into
or exchangeable for Equity Interests of Holdings or any such direct or indirect parent company of Holdings, and (G) repurchases
deemed to occur upon the cashless exercise of stock options;

 

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(16)          the
repurchase, redemption or other acquisition for value of Equity Interests of Holdings deemed to occur in connection with paying cash
in lieu of fractional shares of such Equity Interests in connection with a share dividend, distribution, share split, reverse share split,
merger, consolidation, amalgamation or other business combination of Holdings, in each case, permitted under this Agreement;

 

(17)          the
distribution, by dividend or otherwise, of shares of Capital Stock of, or Indebtedness owed to Holdings or a Restricted Subsidiary by,
Unrestricted Subsidiaries (other than Unrestricted Subsidiaries, the primary assets of which are cash and/or Cash Equivalents);

 

(18)          the
prepayment, redemption, defeasance, repurchase or other acquisition or retirement for value of Permitted Other Indebtedness secured by
a Lien ranking junior to the Lien securing the Obligations in an aggregate amount pursuant to this clause (18) not to exceed the
greater of (x) $75,000,000 and (y) 25% of Consolidated EBITDA for the most recently ended Test Period (calculated on a Pro
Forma Basis); and

 

(19)          payments
or distributions to satisfy dissenters’ rights, pursuant to or in connection with a consolidation, amalgamation, merger or transfer
of assets that complies with Section 10.3 (other than Section 10.3(g));

 

provided that at the time of, and after
giving effect to, any Restricted Payment permitted under clauses (10) (but only if the Excluded Contribution was made
more than six months prior to such time), (11), (14) (except for an Investment where the standard shall be no Event of
Default pursuant to Section 11.1 or 11.5), and (18), no Event of Default shall have occurred and be continuing
or would occur as a consequence thereof (or in the case of a Restricted Investment, no Event of Default under Section 11.1
or 11.5 shall have occurred and be continuing or would occur as a consequence thereof).

 

Notwithstanding the foregoing,
in no event shall any of Holdings, the Borrower or any Restricted Subsidiary permit any Investment which results in any intellectual
property or rights thereto that are material to the business or operations of Holdings, the Borrower and the Restricted Subsidiaries,
taken as a whole, being contributed or otherwise transferred to any Unrestricted Subsidiary.

 

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Holdings will not permit
any Unrestricted Subsidiary to become a Restricted Subsidiary except pursuant to the penultimate paragraph of the definition of Unrestricted
Subsidiary. For purposes of designating any Restricted Subsidiary as an Unrestricted Subsidiary, all outstanding Investments by Holdings
and the Restricted Subsidiaries (except to the extent repaid) in the Subsidiary so designated will be deemed to be Restricted Payments
in an amount determined as set forth in the last sentence of the definition of Investment. Such designation will be permitted only if
a Restricted Payment in such amount would be permitted at such time, whether pursuant to Section 10.5(a) or under clauses
(7), (10), or (11) of Section 10.5(b), or pursuant to the definition of Permitted Investments, and if such
Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. Unrestricted Subsidiaries will not be subject to any of the
restrictive covenants set forth in this Agreement.

 

 For purposes of determining
compliance with this covenant, in the event that a proposed Restricted Payment or Investment (or a portion thereof) meets the criteria
of clauses (1) through (18) above or is entitled to be made pursuant to Section 10.5(a) and/or one
or more of the exceptions contained in the definition of Permitted Investments, Holdings will be entitled to classify or later reclassify
(based on circumstances existing on the date of such reclassification) such Restricted Payment (or portion thereof) among such clauses
(1) through (18), Section 10.5(a) and/or one or more of the exceptions contained in the definition of
 “Permitted Investments”, in a manner that otherwise complies with this covenant.

 

(c)            Prior
to the Initial Term Loan Maturity Date, to the extent any Permitted Debt Exchange Notes are issued pursuant to Section 10.1(y) for
the purpose of consummating a Permitted Debt Exchange, (i) Holdings will not, and will not permit any Restricted Subsidiary to,
prepay, repurchase, redeem or otherwise defease or acquire any Permitted Debt Exchange Notes unless Holdings or a Restricted Subsidiary
shall concurrently voluntarily prepay Term Loans pursuant to Section 5.1(a) on a pro rata basis among the Term Loans,
in an amount not less than the product of (a) a fraction, the numerator of which is the aggregate principal amount (calculated on
the face amount thereof) of such Permitted Debt Exchange Notes that are proposed to be prepaid, repurchased, redeemed, defeased or acquired
and the denominator of which is the aggregate principal amount (calculated on the face amount thereof) of all Permitted Debt Exchange
Notes in respect of the relevant Permitted Debt Exchange then outstanding (prior to giving effect to such proposed prepayment, repurchase,
redemption, defeasance or acquisition) and (b) the aggregate principal amount (calculated on the face amount thereof) of Term Loans
then outstanding and (ii) Holdings will not waive, amend or modify the terms of any Permitted Debt Exchange Notes or any indenture
pursuant to which such Permitted Debt Exchange Notes have been issued in any manner inconsistent with the terms of Section 2.15(a),
Section 10.1(y), or the definition of Permitted Other Indebtedness or that would result in an Event of Default hereunder
if such Permitted Debt Exchange Notes (as so amended or modified) were then being issued or incurred.

 

10.6          Limitation
on Subsidiary Distributions. Holdings will not permit any of the Restricted Subsidiaries that are not Guarantors to, directly or
indirectly, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or consensual restriction on
the ability of any such Restricted Subsidiary to:

 

(a)           (i) pay
dividends or make any other distributions to Holdings or any Restricted Subsidiary on its Capital Stock or with respect to any other
interest or participation in, or measured by, its profits or (ii) pay any Indebtedness owed to Holdings or any Restricted Subsidiary;

 

(b)          make
loans or advances to Holdings or any Restricted Subsidiary; or

 

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(c)          sell,
lease or transfer any of its properties or assets to Holdings or any Restricted Subsidiary;

 

except (in each case) for
such encumbrances or restrictions (x) which the Borrower has reasonably determined in good faith will not materially impair the
Borrower’s ability to make payments under this Agreement when due or (y)  existing under or by reason of:

 

(i)            contractual
encumbrances or restrictions in effect on the Closing Date, including pursuant to this Agreement and the related documentation and related
Hedging Obligations;

 

(ii)           [reserved];

 

(iii)          purchase
money obligations for property acquired in the ordinary course of business or consistent with past practice and Capitalized Lease Obligations
that impose restrictions of the nature discussed in clause (c) above on the property so acquired;

 

(iv)         Requirement
of Law or any applicable rule, regulation or order, or any request of any Governmental Authority having regulatory authority over the
Borrower or any of its Subsidiaries;

 

(v)          any
agreement or other instrument of a Person acquired by or merged or consolidated with or into Holdings or any Restricted Subsidiary, or
of an Unrestricted Subsidiary that is designated a Restricted Subsidiary, or that is assumed in connection with the acquisition of assets
from such Person, in each case that is in existence at the time of such transaction (but not created in contemplation thereof), which
encumbrance or restriction is not applicable to any Person, or the properties or assets of any Person, other than the Person and its
Subsidiaries, or the property or assets of the Person and its Subsidiaries, so acquired or designated;

 

(vi)         contracts
for the sale of assets, including customary restrictions with respect to a Subsidiary of Holdings pursuant to an agreement that has been
entered into for the sale or disposition of all or substantially all of the Capital Stock or assets of such Subsidiary and restrictions
on transfer of assets subject to Permitted Liens;

 

(vii)         (x) secured
Indebtedness otherwise permitted to be incurred pursuant to Sections 10.1 and 10.2 that limit the right of the debtor to
dispose of the assets securing such Indebtedness and (y) restrictions on transfers of assets subject to Permitted Liens (but, with
respect to any such Permitted Lien, only to the extent that such transfer restrictions apply solely to the assets that are the subject
of such Permitted Lien);

 

(viii)       restrictions
on cash or other deposits or net worth imposed by customers under contracts entered into in the ordinary course of business;

 

(ix)         
other Indebtedness, Disqualified Stock or preferred stock of Restricted Subsidiaries permitted to be incurred subsequent to the
Closing Date pursuant to the provisions of Section 10.1;

 

(x)           customary
provisions in joint venture agreements or arrangements and other similar agreements or arrangements relating solely to such joint venture
and the Equity Interests issued thereby;

 

(xi)          customary
provisions contained in leases, sub-leases, licenses, sub-licenses or similar agreements, in each case, entered into in the ordinary
course of business;

 

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(xii)         restrictions
created in connection with any Receivables Facility that, in the good faith determination of the board of directors of Holdings, are
necessary or advisable to effect such Receivables Facility; and

 

(xiii)        any
encumbrances or restrictions of the type referred to in clauses (a), (b), and (c) above imposed by any amendments,
modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments
or obligations referred to in clauses (i) through (xii) above; provided that such amendments, modifications,
restatements, renewals, increases, supplements, refundings, replacements, or refinancings (x) are, in the good faith judgment of
Holdings’ board of directors, no more restrictive in any material respect with respect to such encumbrance and other restrictions
taken as a whole than those prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement
or refinancing or (y) do not materially impair the Borrower’s ability to pay their respective obligations under the Credit
Documents as and when due (as determined in good faith by the Borrower).

 

10.7          Consolidated
First Lien Secured Debt to Consolidated EBITDA Ratio. Solely with respect to the Revolving Credit Facility, Holdings will not permit
the Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio as of the last day of any Test Period ending during any Compliance
Period to be greater than 6.50 to 1.00.

 

Section 11.              Events
of Default.

 

Upon the occurrence of any
of the following specified events (each an “Event of Default”):

 

11.1          Payments.
The Borrower shall (a) default in the payment when due of any principal of the Loans or (b) default, and such default shall
continue for five or more Business Days, in the payment when due of any interest on the Loans or any Fees or any Unpaid Drawings or of
any other amounts owing hereunder or under any other Credit Document; or

 

11.2          Representations,
Etc. Any representation, warranty or statement made or deemed made by any Credit Party herein or in any other Credit Document or
any certificate delivered or required to be delivered pursuant hereto or thereto shall prove to be untrue in any material respect on
the date as of which made or deemed made, and, to the extent capable of being cured, such incorrect representation or warranty shall
remain incorrect for a period of 30 days after written notice thereof from the Administrative Agent to the Borrower; or

 

11.3          Covenants.
Any Credit Party shall:

 

(a)            default
in the due performance or observance by it of any term, covenant or agreement contained in Section 9.1(e)(i), Section 9.5
(solely with respect to Holdings or the Borrower), Section 9.14(d) or Section 10; provided that
any default under Section 10.7 shall not constitute an Event of Default with respect to the Term Loans and the Term Loans
may not be accelerated as a result thereof until the date on which the Revolving Credit Loans (if any) have been accelerated or the Revolving
Credit Commitments have been terminated, in each case, by the Required Revolving Credit Lenders; provided that, if the Lenders
under any Incremental Revolving Credit Commitment have agreed not to have the benefit of the covenant set forth in Section 10.7,
such Incremental Revolving Credit Commitments shall be disregarded for purposes of determining the Required Revolving Credit Lenders
and such Incremental Revolving Credit Commitments shall be treated in the same way as the Term Loans are treated pursuant to this proviso
(such period commencing with a default under Section 10.7 and ending on the date on which the Required Revolving Credit Lenders
with respect to the Revolving Credit Facility terminate and accelerate the Revolving Loans, the “Term Loan Standstill Period”);
provided, further, that any Event of Default under Section 10.7 is subject to cure as provided in Section 11.14
and an Event of Default with respect to such Section shall not occur until the expiration of the 10th Business Day
subsequent to the date the relevant financial statements are required to be delivered for the applicable fiscal quarter pursuant to Section 9.1(a) or
(b); or

 

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(b)            default
in the due performance or observance by it of any term, covenant or agreement (other than those referred to in Section 11.1
or 11.2 or clause (a) of this Section 11.3) contained in this Agreement or any Security Document and such
default shall continue unremedied for a period of at least 30 days after receipt of written notice by Holdings from the Administrative
Agent or the Required Lenders; or

 

11.4          Default
Under Other Agreements. (a) Holdings or any of the Restricted Subsidiaries shall (i) default in any payment with respect
to any Indebtedness (other than the Obligations) in excess of the greater of (x) $45,000,000 and (y) 15% of Consolidated EBITDA
for the most recently ended Test Period (calculated on a Pro Forma Basis) in the aggregate, for Holdings and such Restricted Subsidiaries,
beyond the period of grace and following all required notices, if any, provided in the instrument or agreement under which such Indebtedness
was created or (ii) default in the observance or performance of any agreement or condition relating to any such Indebtedness or
contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist
(after giving effect to all applicable grace period and delivery of all required notices) (other than, with respect to Indebtedness consisting
of any Hedge Agreements, termination events or equivalent events pursuant to the terms of such Hedge Agreements (it being understood
that clause (i) shall apply to any failure to make any payment in excess of the greater of (x) $45,000,000 and (y) 15%
of Consolidated EBITDA for the most recently ended Test Period (calculated on a Pro Forma Basis) in the aggregate that is required as
a result of any such termination or similar event and that is not otherwise being contested in good faith)), the effect of which default
or other event or condition is to cause, or to permit the holder or holders of such Indebtedness (or a trustee or agent on behalf of
such holder or holders) to cause, any such Indebtedness to become due or to be repurchased, prepaid, defeased or redeemed (automatically
or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity; provided
that this clause (a) shall not apply to secured Indebtedness that becomes due as a result of the sale, transfer or other
disposition (including as a result of a casualty or condemnation event) of the property or assets securing such Indebtedness (to the
extent such sale, transfer or other disposition is not prohibited under this Agreement), or (b) without limiting the provisions
of clause (a) above, any such Indebtedness shall be declared to be due and payable, or required to be prepaid other than
by a regularly scheduled required prepayment or as a mandatory prepayment (and, with respect to Indebtedness consisting of any Hedge
Agreements, other than due to a termination event or equivalent event pursuant to the terms of such Hedge Agreements (it being understood
that clause (a)(i) above shall apply to any failure to make any payment in excess of the greater of (x) $45,000,000
and (y) 15% of Consolidated EBITDA for the most recently ended Test Period (calculated on a Pro Forma Basis) in the aggregate that
is required as a result of any such termination or equivalent event and that is not otherwise being contested in good faith)), prior
to the stated maturity thereof; provided that this clause (b) shall not apply to (x) secured Indebtedness that
becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness, if such sale or transfer
is permitted hereunder and under the documents providing for such Indebtedness, (y) Indebtedness which is convertible into Qualified
Stock and converts to Qualified Stock in accordance with its terms and such conversion is not prohibited hereunder, or (z) any breach
or default that is (I) remedied by Holdings, the Borrower or the applicable Restricted Subsidiary or (II) waived (including
in the form of amendment) by the required holders of the applicable item of Indebtedness, in either case, prior to the acceleration of
Loans pursuant to this Section 11; or

 

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11.5          Bankruptcy,
Etc. Except as otherwise permitted by Section 10.3, Holdings, the Borrower or any Significant Subsidiary shall commence
a voluntary case, proceeding or action concerning itself under Title 11 of the United States Code entitled “Bankruptcy” as
now or hereafter in effect, or any successor thereto (collectively, the “Bankruptcy Code”); or an involuntary case,
proceeding or action is commenced against Holdings, the Borrower or any Significant Subsidiary and the petition is not controverted within
30 days after commencement of the case, proceeding or action; or an involuntary case, proceeding or action is commenced against Holdings,
the Borrower or any Significant Subsidiary and the petition is not dismissed within 60 days after commencement of the case, proceeding
or action; or a custodian (as defined in the Bankruptcy Code), judicial manager, compulsory manager, receiver, receiver manager, trustee,
liquidator, administrator, administrative receiver or similar Person is appointed for, or takes charge of, all or substantially all of
the property of Holdings, the Borrower or any Significant Subsidiary; or Holdings, the Borrower or any Significant Subsidiary commences
any other voluntary proceeding or action under any reorganization, arrangement, adjustment of debt, relief of debtors, dissolution, insolvency,
winding-up, administration or liquidation or similar law of any jurisdiction whether now or hereafter in effect relating to Holdings,
the Borrower or any Significant Subsidiary; or there is commenced against Holdings, the Borrower or any Significant Subsidiary any such
proceeding or action that remains undismissed for a period of 60 days; or Holdings, the Borrower or any Significant Subsidiary is adjudicated
bankrupt; or any order of relief or other order approving any such case or proceeding or action is entered; or Holdings, the Borrower
or any Significant Subsidiary suffers any appointment of any custodian receiver, receiver manager, trustee, administrator or similar
Person for it or any substantial part of its property to continue undischarged or unstayed for a period of 60 days; or Holdings, the
Borrower or any Significant Subsidiary makes a general assignment for the benefit of creditors; or

 

11.6          ERISA.
(a) An ERISA Event or a Foreign Plan Event shall have occurred, (b) a trustee shall be appointed by a United States district
court to administer any Pension Plan(s), (c) the PBGC shall institute proceedings to terminate any Pension Plan(s), or (d) any
Credit Party or any of their respective ERISA Affiliates shall have been notified by the sponsor of a Multiemployer Plan that it has
incurred or will be assessed Withdrawal Liability to such Multiemployer Plan and such entity does not have reasonable grounds for contesting
such Withdrawal Liability or is not contesting such Withdrawal Liability in a timely and appropriate manner, and in each case in clauses
(a) through (d) above, such event or condition, together with all other such events or conditions, if any, would
reasonably be expected to result in a Material Adverse Effect; or

 

11.7          Guarantee.
Other than as expressly permitted hereunder, any Guarantee provided by any Credit Party or any material provision thereof shall cease
to be in full force or effect (other than pursuant to the terms hereof and thereof) or any such Guarantor thereunder or any other Credit
Party shall deny or disaffirm in writing any such Guarantor’s obligations under the Guarantee; or

 

11.8          Pledge
Agreement. Other than as expressly permitted hereunder, the Pledge Agreement or any other Security Document pursuant to which the
Capital Stock or Stock Equivalents of the Borrower or any Subsidiary is pledged or any material provision thereof shall cease to be in
full force or effect (other than pursuant to the terms hereof or thereof, solely as a result of acts or omissions of the Collateral Agent
or any Lender or solely as a result of the Collateral Agent’s no longer having possession of any Capital Stock or Stock Equivalents
that have been previously delivered to it) or any pledgor thereunder or any Credit Party shall deny or disaffirm in writing any pledgor’s
obligations under any Security Document; or

 

11.9          Security
Agreement. Other than as expressly permitted hereunder, the Security Agreement or any other Security Document pursuant to which the
assets of Holdings, the Borrower or any Material Subsidiary are pledged as Collateral or any material provision thereof shall cease to
be in full force or effect (other than pursuant to the terms hereof or thereof, solely as a result of acts or omissions of the Collateral
Agent in respect of certificates, promissory notes or instruments actually delivered to it or as a result of a Uniform Commercial Code
filing having lapsed because a Uniform Commercial Code continuation statement was not filed in a timely manner) or any grantor thereunder
or any Credit Party shall deny or disaffirm in writing any grantor’s obligations under or any Security Document; or

 

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11.10        Judgments.
One or more judgments or decrees shall be entered against Holdings or any of the Restricted Subsidiaries involving a liability of in
excess of the greater of (x) $45,000,000 and (y) 15% of Consolidated EBITDA for the most recently ended Test Period (calculated
on a Pro Forma Basis) in the aggregate for all such judgments and decrees for Holdings and the Restricted Subsidiaries (to the extent
not covered by insurance or indemnities as to which the applicable insurance company or third party has not denied coverage) and any
such judgments or decrees shall not have been satisfied, vacated, discharged or stayed or bonded pending appeal within 60 days after
the entry thereof; or

 

11.11        Change
of Control. A Change of Control shall occur.

 

11.12        Remedies
Upon Event of Default. If an Event of Default occurs and is continuing (other than in the case of an Event of Default under Section 11.3(a) with
respect to any default of performance or compliance with the covenant under Section 10.7), the Administrative Agent shall,
upon the written request of the Required Lenders, by written notice to Holdings, take any or all of the following actions, without prejudice
to the rights of the Administrative Agent or any Lender to enforce its claims against Holdings and the Borrower, except as otherwise
specifically provided for in this Agreement (provided that, if an Event of Default specified in Section 11.5 shall
occur with respect to the Borrower or Holdings, the result that would occur upon the giving of written notice by the Administrative Agent
as specified in clauses (i), (ii), (iii), and (iv) below shall occur automatically without the giving
of any such notice): (i) declare the Total Revolving Credit Commitment and Swingline Commitment terminated, whereupon the Revolving
Credit Commitment and Swingline Commitment, if any, of each Lender or the Swingline Lender, as the case may be, shall forthwith terminate
immediately and any Fees theretofore accrued shall forthwith become due and payable without any other notice of any kind; (ii) declare
the principal of and any accrued interest and fees in respect of all Loans and all Obligations to be, whereupon the same shall become,
forthwith due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower
to the extent permitted by applicable law; (iii) terminate any Letter of Credit that may be terminated in accordance with its terms;
and/or (iv) direct the Borrower to pay (and the Borrower agrees that upon receipt of such notice, or upon the occurrence of an Event
of Default specified in Section 11.5 with respect to the Borrower, it will pay) to the Administrative Agent at the Administrative
Agent’s Office such additional amounts of cash, to be held as security for the Borrower’s respective Reimbursement Obligations
for Unpaid Drawings that may subsequently occur thereunder, equal to the aggregate Stated Amount of all Letters of Credit issued and
then outstanding. In the case of an Event of Default under Section 11.3(a) in respect of a failure to observe or perform
the covenant under Section 10.7, provided that the actions hereinafter described will be permitted to occur only following
the expiration of the ability to effectuate the Cure Right if such Cure Right has not been so exercised, and at any time thereafter during
the continuance of such event, the Administrative Agent shall, upon the written request of the Required Revolving Credit Lenders, by
written notice to Holdings, take either or both of the following actions, at the same or different times (except the following actions
may not be taken until the ability to exercise the Cure Right under Section 11.14 has expired (but may be taken as soon as
the ability to exercise the Cure Right has expired and it has not been so exercised)): (i) declare the Total Revolving Credit Commitment
and Swingline Commitment terminated, whereupon the Revolving Credit Commitment and Swingline Commitment, if any, of each Lender or the
Swingline Lender, as the case may be, shall forthwith terminate immediately and any Fees theretofore accrued shall forthwith become due
and payable without any other notice of any kind; and (ii) declare the Revolving Loans then outstanding to be due and payable in
whole (or in part, in which case any principal not so declared to be due and payable may thereafter, during the continuance of such event,
be declared to be due and payable), and thereupon the principal of the Revolving Loans so declared to be due and payable, together with
accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall become due and payable immediately,
without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower (to the extent permitted
by applicable law). On or after the expiration of the Term Loan Standstill Period, the Required Term Loan Lenders may, upon the written
request of the Required Term Loan Lenders to the Administrative Agent, elect to declare the Term Loans then outstanding to be due and
payable in whole (or in part, in which case any principal not so declared to be due and payable may thereafter, during the continuance
of such event, be declared to be due and payable), and thereupon the principal of the Term Loans so declared to be due and payable, together
with accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall become due and payable immediately,
without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower (to the extent permitted
by applicable law).

 

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11.13        Application
of Proceeds. Subject to the terms of the First Lien Intercreditor Agreement and the Second Lien Intercreditor Agreement, in each
case, if executed, any amount received by the Administrative Agent or the Collateral Agent from any Credit Party (or from proceeds
of any Collateral) following any acceleration of the Obligations under this Agreement, any exercise of remedies under the Credit
Documents or any Event of Default with respect to the Borrower under Section 11.5 shall be applied:

 

(i)            first,
to the payment of all reasonable and documented costs and expenses incurred by the Administrative Agent or the Collateral Agent in connection
with any collection or sale of the Collateral or otherwise in connection with any Credit Document, including all court costs and the
reasonable fees and expenses of its agents and legal counsel, the repayment of all advances made by the Administrative Agent or the Collateral
Agent hereunder or under any other Credit Document on behalf of any Credit Party and any other reasonable and documented costs or expenses
incurred in connection with the exercise of any right or remedy hereunder or under any other Credit Document to the extent reimbursable
hereunder or thereunder;

 

(ii)           second,
to the Secured Parties, an amount (x) equal to all Obligations owing to them on the date of any distribution and (y) sufficient
to Cash Collateralize all Letters of Credit Outstanding on the date of any distribution, and, if such moneys shall be insufficient to
pay such amounts in full and Cash Collateralize all Letters of Credit Outstanding, then ratably (without priority of any one over any
other) to such Secured Parties in proportion to the unpaid amounts thereof and to Cash Collateralize the Letters of Credit Outstanding;
and

 

(iii)          third,
any surplus then remaining shall be paid to the applicable Credit Parties or their successors or assigns or to whomsoever may be lawfully
entitled to receive the same or as a court of competent jurisdiction may direct;

 

provided that any amount applied to Cash
Collateralize any Letters of Credit Outstanding that has not been applied to reimburse the Borrower for Unpaid Drawings under the applicable
Letters of Credit at the time of expiration of all such Letters of Credit shall be applied by the Administrative Agent in the order specified
in clauses (i) through (iii) above. Notwithstanding the foregoing, amounts received from any Guarantor that is
not an “Eligible Contract Participant” (as defined in the Commodity Exchange Act) shall not be applied to its Obligations
that are Excluded Swap Obligations.

 

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11.14        Equity
Cure. Notwithstanding anything to the contrary contained in this Section 11, in the event that Holdings fails to comply
with the requirement of the financial covenant set forth in Section 10.7, from the beginning of any fiscal period until the
expiration of the 10th Business Day following the date financial statements referred to in Sections 9.1(a) or
(b) are required to be delivered in respect of such fiscal period for which such financial covenant is being measured, any
holder of Capital Stock or Stock Equivalents of Holdings or any direct or indirect parent of Holdings shall have the right to cure such
failure (the “Cure Right”) by causing cash net equity proceeds derived from an issuance of Capital Stock or Stock
Equivalents (other than Disqualified Stock, unless reasonably satisfactory to the Administrative Agent) by Holdings (or from a contribution
to the common equity capital of Holdings) to be contributed, directly or indirectly, as cash common equity to the Borrower, and upon
receipt by the Borrower of such cash contribution (such cash amount being referred to as the “Cure Amount”) pursuant
to the exercise of such Cure Right, such financial covenant shall be recalculated giving effect to the following pro forma adjustments:

 

(a)            Consolidated
EBITDA shall be increased, solely for the purpose of determining the existence of an Event of Default resulting from a breach of the
financial covenant set forth in Section 10.7 with respect to any period of four consecutive fiscal quarters that includes
the fiscal quarter for which the Cure Right was exercised and not for any other purpose under this Agreement, by an amount equal to the
Cure Amount;

 

(b)            Consolidated
First Lien Secured Debt shall be decreased solely to the extent proceeds of the Cure Amount are actually applied to prepay any of the
Credit Facilities and there shall be no pro forma reduction in Indebtedness with the proceeds of the Cure Amount for determining compliance
with the financial covenant set forth in Section 10.7 unless such proceeds are actually applied to prepay Indebtedness under the
Credit Facilities; and

 

(c)            if,
after giving effect to the foregoing recalculations, Holdings shall then be in compliance with the requirements of the financial covenant
set forth in Section 10.7, Holdings shall be deemed to have satisfied the requirements of the financial covenant set forth
in Section 10.7 as of the relevant date of determination with the same effect as though there had been no failure to comply
therewith at such date, and the applicable breach or default of such financial covenants that had occurred shall be deemed cured for
the purposes of this Agreement; provided that (i) in each period of four consecutive fiscal quarters there shall be at least
two fiscal quarters in which no Cure Right is made, (ii) there shall be a maximum of five Cure Rights made during the term of this
Agreement, (iii) each Cure Amount shall be no greater than the amount expected to be required to cause the Borrower to be in compliance
with the financial covenant set forth in Section 10.7; and (iv) all Cure Amounts shall be disregarded for the purposes
of any financial ratio determination under the Credit Documents other than for determining compliance with Section 10.7.

 

Section 12.             The
Agents

 

12.1          Appointment.

 

(a)            Each
Lender hereby irrevocably designates and appoints the Administrative Agent as the agent of such Lender under this Agreement and the other
Credit Documents and irrevocably authorizes the Administrative Agent, in such capacity, to take such action on its behalf under the provisions
of this Agreement and the other Credit Documents and to exercise such powers and perform such duties as are expressly delegated to the
Administrative Agent by the terms of this Agreement and the other Credit Documents, together with such other powers as are reasonably
incidental thereto. The provisions of this Section 12 (other than Section 12.1(c) with respect to the Joint
Lead Arrangers and Bookrunners and Sections 12.1, 12.9, 12.11 and 12.12 with respect to Holdings) are solely
for the benefit of the Agents and the Lenders, none of Holdings, the Borrower or any other Credit Party shall have rights as third party
beneficiary of any such provision. Notwithstanding any provision to the contrary elsewhere in this Agreement, the Administrative Agent
shall not have any duties or responsibilities, except those expressly set forth herein, or any fiduciary relationship with any Lender,
and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other
Credit Document or otherwise exist against the Administrative Agent. In performing its functions and duties hereunder, each Agent shall
act solely as an agent of Lenders and does not assume and shall not be deemed to have assumed any obligation towards or relationship
of agency or trust with or for Holdings, the Borrower or any of their respective Subsidiaries.

 

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(b)            The
Administrative Agent, each Lender, the Swingline Lender and the Letter of Credit Issuer hereby irrevocably designate and appoint the
Collateral Agent as the agent with respect to the Collateral, and each of the Administrative Agent, each Lender, the Swingline Lender
and the Letter of Credit Issuer irrevocably authorizes the Collateral Agent, in such capacity, to take such action on its behalf under
the provisions of this Agreement and the other Credit Documents and to exercise such powers and perform such duties as are expressly
delegated to the Collateral Agent by the terms of this Agreement and the other Credit Documents, together with such other powers as are
reasonably incidental thereto. Notwithstanding any provision to the contrary elsewhere in this Agreement, the Collateral Agent shall
not have any duties or responsibilities except those expressly set forth herein, or any fiduciary relationship with any of the Administrative
Agent, the Lenders, the Swingline Lender or the Letter of Credit Issuers, and no implied covenants, functions, responsibilities, duties,
obligations or liabilities shall be read into this Agreement or any other Credit Document or otherwise exist against the Collateral Agent.

 

(c)            Each
of the Joint Lead Arrangers and Bookrunners each in its capacity as such, shall not have any obligations, duties or responsibilities
under this Agreement but shall be entitled to all benefits of this Section 12.

 

12.2          Delegation
of Duties. The Administrative Agent and the Collateral Agent may each execute any of its duties under this Agreement and the other
Credit Documents by or through agents, sub-agents, employees or attorneys-in-fact and shall be entitled to advice of counsel concerning
all matters pertaining to such duties. Neither the Administrative Agent nor the Collateral Agent shall be responsible for the negligence
or misconduct of any agents, subagents or attorneys-in-fact selected by it in the absence of its gross negligence or willful misconduct
(as determined in the final non-appealable judgment of a court of competent jurisdiction).

 

12.3          Exculpatory
Provisions. No Agent nor any of its officers, directors, employees, agents, attorneys-in-fact or Affiliates shall be (a) liable
for any action lawfully taken or omitted to be taken by any of them under or in connection with this Agreement or any other Credit Document
(except for its or such Person’s own gross negligence or willful misconduct, as determined in the final non-appealable judgment
of a court of competent jurisdiction, in connection with its duties expressly set forth herein) or (b) responsible in any manner
to any of the Lenders or any participant for any recitals, statements, representations or warranties made by any Credit Party or any
officer thereof contained in this Agreement or any other Credit Document or in any certificate, report, statement or other document referred
to or provided for in, or received by such Agent under or in connection with, this Agreement or any other Credit Document or for the
value, validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Credit Document, or the creation,
perfection or priority of any Lien or security interest created or purported to be created under the Security Documents, or for any failure
of any Credit Party to perform its obligations hereunder or thereunder. No Agent shall be under any obligation to any Lender to ascertain
or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other
Credit Document, or to inspect the properties, books or records of any Credit Party or any Affiliate thereof. The Collateral Agent shall
not be under any obligation to the Administrative Agent or any Lender to ascertain or to inquire as to the observance or performance
of any of the agreements contained in, or conditions of, this Agreement or any other Credit Document, or to inspect the properties, books
or records of any Credit Party. Without limiting the generality of the foregoing, (a) no Agent shall have any duty to take any discretionary
action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby that such Agent is
instructed in writing to exercise by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under
the circumstances as provided in Section 13.1), provided that no Agent shall be required to take any action that, in its
opinion or the opinion of its counsel, may expose such Agent to liability or that is contrary to any Credit Document or applicable law,
including for the avoidance of doubt any action that may be in violation of the automatic stay under any debtor relief law or that may
effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any debtor relief law and (b) except
as expressly set forth in the Credit Documents, no Agent shall have any duty to disclose, nor shall it be liable for the failure to disclose,
any information relating to Holdings, the Borrower or any of the Subsidiaries that is communicated to or obtained by the bank serving
as Administrative Agent and/or Collateral Agent or any of its Affiliates in any capacity.

 

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12.4          Reliance
by Agents. The Administrative Agent and the Collateral Agent shall be entitled to rely, and shall be fully protected in relying,
upon any writing, resolution, notice, consent, certificate, affidavit, letter, telecopy, telex or teletype message, statement, order
or other document or instruction 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 Holdings and the Borrower), independent accountants
and other experts selected by the Administrative Agent or the Collateral Agent. The Administrative Agent may deem and treat the Lender
specified in the Register with respect to any amount owing hereunder as the owner thereof for all purposes unless a written notice of
assignment, negotiation or transfer thereof shall have been filed with the Administrative Agent. The Administrative Agent and the Collateral
Agent shall be fully justified in failing or refusing to take any action under this Agreement or any other Credit Document unless it
shall first receive such advice or concurrence of the Required Lenders as it deems appropriate or it shall first be indemnified to its
satisfaction by the Lenders against any and all liability and expense that may be incurred by it by reason of taking or continuing to
take any such action. The Administrative Agent and the Collateral Agent shall in all cases be fully protected in acting, or in refraining
from acting, under this Agreement and the other Credit Documents in accordance with a request of the Required Lenders, and such request
and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders and all future holders of the Loans; provided
that the Administrative Agent and the Collateral Agent shall not be required to take any action that, in its opinion or in the opinion
of its counsel, may expose it to liability or that is contrary to any Credit Document or applicable law.

 

12.5          Notice
of Default. Neither the Administrative Agent nor the Collateral Agent shall be deemed to have knowledge or notice of the occurrence
of any Default or Event of Default hereunder unless the Administrative Agent or the Collateral Agent has received written notice from
a Lender or Holdings or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice
is a “notice of default.” In the event that the Administrative Agent receives such a notice, it shall give notice thereof
to the Lenders and the Collateral Agent. The Administrative Agent shall take such action with respect to such Default or Event of Default
as shall be reasonably directed by the Required Lenders; provided that unless and until the Administrative Agent shall have received
such directions, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with
respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders except to the extent that
this Agreement requires that such action be taken only with the approval of the Required Lenders or each of the Lenders, as applicable.

 

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

 

12.7          Indemnification.
The Lenders agree to severally indemnify each Agent in its capacity as such (to the extent not reimbursed by the Credit Parties and without
limiting the obligation of the Credit Parties to do so), ratably according to their respective portions of the Total Credit Exposure
in effect on the date on which indemnification is sought (or, if indemnification is sought after the Termination Date, ratably in accordance
with their respective portions of the Total Credit Exposure in effect immediately prior to such date), from and against any and all liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses, or disbursements of any kind whatsoever that may
at any time (including at any time following the payment of the Loans) be imposed on, incurred by or asserted against an Agent in any
way relating to or arising out of the Commitments, this Agreement, any of the other Credit Documents or any documents contemplated by
or referred to herein or therein or the transactions contemplated hereby or thereby or any action taken or omitted by the Administrative
Agent or the Collateral Agent under or in connection with any of the foregoing; provided that no Lender shall be liable to an
Agent for the payment of any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses or disbursements resulting from such Agent’s gross negligence or willful misconduct as determined by a final non-appealable
judgment of a court of competent jurisdiction; provided, further, that no action taken by the Administrative Agent in accordance with
the directions of the Required Lenders (or such other number or percentage of the Lenders as shall be required by the Credit Documents)
shall be deemed to constitute gross negligence or willful misconduct for purposes of this Section 12.7. In the case of any
investigation, litigation or proceeding giving rise to any liabilities, obligations, losses, damages, penalties, actions, judgments,
suits, costs, expenses or disbursements of any kind whatsoever that may at any time occur (including at any time following the payment
of the Loans), this Section 12.7 applies whether any such investigation, litigation or proceeding is brought by any Lender
or any other Person. Without limitation of the foregoing, each Lender shall reimburse each Agent upon demand for its ratable share of
any costs or out-of-pocket expenses (including attorneys’ fees) incurred by such Agent in connection with the preparation, execution,
delivery, administration, modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or
legal advice rendered in respect of rights or responsibilities under, this Agreement, any other Credit Document, or any document contemplated
by or referred to herein, to the extent that such Agent is not reimbursed for such expenses by or on behalf of Holdings or the Borrower;
provided that such reimbursement by the Lenders shall not affect Holdings’ or the Borrower’s continuing Reimbursement
Obligations with respect thereto. If any indemnity furnished to any Agent for any purpose shall, in the opinion of such Agent, be insufficient
or become impaired, such Agent may call for additional indemnity and cease, or not commence, to do the acts indemnified against until
such additional indemnity is furnished; provided, in no event shall this sentence require any Lender to indemnify any Agent against any
liability, obligation, loss, damage, penalty, action, judgment, suit, cost, expense or disbursement in excess of such Lender’s
pro rata portion thereof; and provided, further, this sentence shall not be deemed to require any Lender to indemnify any
Agent against any liability, obligation, loss, damage, penalty, action, judgment, suit, cost, expense or disbursement resulting from
such Agent’s gross negligence or willful misconduct as determined by a final non-appealable judgment of a court of competent jurisdiction.
The agreements in this Section 12.7 shall survive the payment of the Loans and all other amounts payable hereunder. The indemnity
provided to each Agent under this Section 12.7 shall also apply to such Agent’s respective Affiliates, directors, officers,
members, controlling persons, employees, trustees, investment advisors and agents and successors.

 

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12.8          Agents
in Their Individual Capacities. The agency hereby created shall in no way impair or affect any of the rights and powers of, or impose
any duties or obligations upon, any Agent in its individual capacity as a Lender hereunder. Each Agent and its Affiliates may make loans
to, accept deposits from and generally engage in any kind of business with any Credit Party as though such Agent were not an Agent hereunder
and under the other Credit Documents. With respect to the Loans made by it, each Agent shall have the same rights and powers under this
Agreement and the other Credit Documents as any Lender and may exercise the same as though it were not an Agent, and the terms “Lender”
and “Lenders” shall include each Agent in its individual capacity, and none of the Joint Lead Arrangers and Bookrunners shall
have any powers, duties or responsibilities under this Agreement or any of the other Credit Documents, except in its capacity, as applicable,
as the Administrative Agent, the Collateral Agent, a Lender, the Swingline Lender or a Letter of Credit Issuer hereunder.

 

12.9          Successor
Agents. (a)  Each of the Administrative Agent and the Collateral Agent may at any time give notice of its resignation to the
Lenders, the Letter of Credit Issuer and Holdings. Upon receipt of any such notice of resignation, the Required Lenders shall have the
right, subject to the consent of the Borrower (not to be unreasonably withheld or delayed) so long as no Event of Default under Sections
11.1 or 11.5 is continuing, to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate
of any such bank with an office in the United States (other than any Disqualified Lender). If no such successor shall have been so appointed
by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Agent gives notice of its resignation
(the “Resignation Effective Date”), then the retiring Agent may on behalf of the Lenders, appoint a successor Agent
meeting the qualifications set forth above (including receipt of the Borrower’s consent); provided that if the Administrative
Agent or the Collateral Agent shall notify the Borrower and the Lenders that no qualifying Person has accepted such appointment, then
such resignation shall nonetheless become effective in accordance with such notice.

 

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(b)            If
the Person serving as the Administrative Agent is a Defaulting Lender pursuant to clause (v) of the definition of Lender
Default, the Required Lenders may to the extent permitted by applicable law, subject to the consent of the Borrower (not to be unreasonably
withheld or delayed), by notice in writing to the Borrower and such Person remove such Person as the Administrative Agent and, in consultation
with the Borrower, appoint a successor.  If no such successor shall have been so appointed by the Required Lenders (with the consent
of Holdings as required above) and shall have accepted such appointment within 30 days (or such earlier day as shall be agreed by the
Required Lenders and Holdings) (the “Removal Effective Date”), then such removal shall nonetheless become effective
in accordance with such notice on the Removal Effective Date.

 

(c)            With
effect from the Resignation Effective Date or the Removal Effective Date (as applicable), (1) the retiring or removed agent shall
be discharged from its duties and obligations hereunder and under the other Credit Documents (except that in the case of any collateral
security held by the Collateral Agent on behalf of the Lenders, the Letter of Credit Issuer or the Swingline Lender under any of the
Credit Documents, the retiring or removed Collateral Agent shall continue to hold such collateral security as nominee until such time
as a successor Collateral Agent is appointed) and (2) all payments, communications and determinations provided to be made by, to
or through the retiring or removed Administrative Agent shall instead be made by or to each Lender, the Letter of Credit Issuer and the
Swingline Lender directly, until such time as the Required Lenders appoint a successor Agent as provided for above in this paragraph
(and otherwise subject to the terms above). Upon the acceptance of a successor’s appointment as the Administrative Agent or the
Collateral Agent, as the case may be, hereunder, and upon the execution and filing or recording of such financing statements, or amendments
thereto, and such amendments or supplements to the Mortgages, and such other instruments or notices, as may be necessary or desirable,
or as the Required Lenders may request, in order to continue the perfection of the Liens granted or purported to be granted by the Security
Documents, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or
retired) or removed Agent, and the retiring or removed Agent shall be discharged from all of its duties and obligations hereunder or
under the other Credit Documents (if not already discharged therefrom as provided above in this Section 12.9). Except as
provided above, any resignation or removal of JPMorgan Chase Bank, N.A. as the Administrative Agent pursuant to this Section 12.9
shall also constitute the resignation or removal of JPMorgan Chase Bank, N.A. as the Collateral Agent. The fees payable by Holdings
or the Borrower (following the effectiveness of such appointment) to such Agent shall be the same as those payable to its predecessor
unless otherwise agreed between Holdings or Borrower and such successor. After the retiring or removed Agent’s resignation or removal
hereunder and under the other Credit Documents, the provisions of this Section 12 (including Section 12.7) and
Section 13.5 shall continue in effect for the benefit of such retiring or removed Agent, its sub-agents and their respective
Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring or removed Agent was acting
as an Agent.

 

(d)            Any
resignation by or removal of JPMorgan Chase Bank, N.A. as the Administrative Agent pursuant to this Section 12.9 shall also
constitute its resignation or removal as Swingline Lender and its Affiliate’s resignation or removal as the Letter of Credit Issuer.
Upon the acceptance of a successor’s appointment as the Administrative Agent hereunder, (a) such successor shall succeed to
and become vested with all of the rights, powers, privileges and duties of the retiring Letter of Credit Issuer and Swingline Lender,
(b) the retiring Letter of Credit Issuer and Swingline Lender shall be discharged from all of their respective duties and obligations
hereunder or under the other Credit Documents, and (c) the successor Letter of Credit Issuer shall issue letters of credit in substitution
for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to the retiring
Letter of Credit Issuer to effectively assume the obligations of the retiring Letter of Credit Issuer with respect to such Letters of
Credit.

 

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12.10        Withholding
Tax. To the extent required by any applicable law, the Administrative Agent may withhold from any payment to any Lender under any
Credit Document an amount equivalent to any applicable withholding Tax. If the Internal Revenue Service or any authority of the United
States or other jurisdiction asserts a claim that the Administrative Agent did not properly withhold Tax from amounts paid to or for
the account of any Lender for any reason (including because the appropriate form was not delivered, was not properly executed, or because
such Lender failed to notify the Administrative Agent of a change in circumstances that rendered the exemption from, or reduction of,
withholding Tax ineffective) or if the Administrative Agent reasonably determines that a payment was made to a Lender pursuant to this
Agreement without deduction of applicable withholding Tax from such payment, such Lender shall indemnify the Administrative Agent (to
the extent that the Administrative Agent has not already been reimbursed by any applicable Credit Party and without limiting the obligation
of any applicable Credit Party to do so), fully for all amounts paid, directly or indirectly, by the Administrative Agent as Tax or otherwise,
including penalties, additions to Tax and interest, together with all expenses incurred, including legal expenses, allocated staff costs
and any out of pocket expenses. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative
Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and
all amounts at any time owing to such Lender under this Agreement or any other Credit Document against any amount due to the Administrative
Agent under this Section 12.10. The agreements in this Section 12.10 shall survive the resignation and/or replacement
of the Administrative Agent, any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the
repayment, satisfaction or discharge of all other Obligations. For the avoidance of doubt, for purposes of this Section 12.10,
the term Lender includes the Letter of Credit Issuer and the Swingline Lender.

 

12.11        Agents
Under Security Documents and Guarantee. Each Secured Party hereby further authorizes the Administrative Agent or the Collateral Agent,
as applicable, on behalf of and for the benefit of the Secured Parties, to be the agent for and representative of the Secured Parties
with respect to the Collateral and the Security Documents. Subject to Section 13.1, without further written consent or authorization
from any Secured Party, the Administrative Agent or the Collateral Agent, as applicable, may execute any documents or instruments necessary
to (a) release any Lien, in whole or in part, on any property granted to or held by the Administrative Agent or the Collateral Agent
(or any sub-agent thereof) under any Credit Document (i) upon the Termination Date, (ii) that is sold or to be sold or transferred
as part of or in connection with any sale, disposition or other transfer permitted hereunder or under any other Credit Document to a
Person that is not a Credit Party or in connection with the designation of any Restricted Subsidiary as an Unrestricted Subsidiary, (iii) if
the property subject to such Lien is owned by a Guarantor, upon the release of such Guarantor from its Guarantee otherwise in accordance
with the Credit Documents, (iv) as to the extent provided in the Security Documents, (v) that constitutes Excluded Property
or Excluded Stock and Stock Equivalents or (vi) if approved, authorized or ratified in writing in accordance with Section 13.1;
(b) release any Guarantor (other than Holdings (except as otherwise permitted by Section 10.3)) from its obligations
under the Guarantee if such Person ceases to be a Restricted Subsidiary (or becomes an Excluded Subsidiary) as a result of a transaction
or designation permitted hereunder; (c) subordinate any Lien on any property granted to or held by the Administrative Agent or the
Collateral Agent under any Credit Document to the holder of any Lien permitted under clause (iv) (solely with respect
to Section 10.1(d)), (v), (vii), (xiii), (xxix), (xxxi), and (xxxvix) of the definition
of Permitted Lien or if required under the terms of any lease, easement, right of way or similar agreement effecting the Mortgaged Property
provided such lease, easement, right of way or similar agreement constitutes a Permitted Lien; and (d) enter into subordination
or intercreditor agreements with respect to Indebtedness to the extent the Administrative Agent or the Collateral Agent is otherwise
contemplated herein as being a party to such intercreditor or subordination agreement, including the First Lien Intercreditor Agreement
and the Second Lien Intercreditor Agreement.

 

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The Collateral Agent shall
have its own independent right to demand payment of the amounts payable by the Borrower under this Section 12.11, irrespective
of any discharge of the Borrower’s obligations to pay those amounts to the other Lenders resulting from failure by them to take
appropriate steps in insolvency proceedings affecting the Borrower to preserve their entitlement to be paid those amounts.

 

Any amount due and payable
by the Borrower to the Collateral Agent under this Section 12.11 shall be decreased to the extent that the other Lenders
have received (and are able to retain) payment in full of the corresponding amount under the other provisions of the Credit Documents
and any amount due and payable by the Borrower to the Collateral Agent under those provisions shall be decreased to the extent that the
Collateral Agent has received (and is able to retain) payment in full of the corresponding amount under this Section 12.11.

 

12.12        Right
to Realize on Collateral and Enforce Guarantee. Anything contained in any of the Credit Documents to the contrary notwithstanding,
Holdings, the Agents, and each Secured Party hereby agree that (i) no Secured Party shall have any right individually to realize
upon any of the Collateral or to enforce the Guarantee, it being understood and agreed that all powers, rights, and remedies hereunder
may be exercised solely by the Administrative Agent, on behalf of the Secured Parties in accordance with the terms hereof and all powers,
rights, and remedies under the Security Documents may be exercised solely by the Collateral Agent, and (ii) in the event of a foreclosure
by the Collateral Agent on any of the Collateral pursuant to a public or private sale or other disposition, the Collateral Agent or any
Lender may be the purchaser or licensor of any or all of such Collateral at any such sale or other disposition and the Collateral Agent,
as agent for and representative of the Secured Parties (but not any Lender or Lenders in its or their respective individual capacities
unless Required Lenders shall otherwise agree in writing) shall be entitled, for the purpose of bidding and making settlement or payment
of the purchase price for all or any portion of the Collateral sold at any such public sale, to use and apply any of the Obligations
as a credit on account of the purchase price for any collateral payable by the Collateral Agent at such sale or other disposition. No
holder of Secured Hedge Obligations or Secured Cash Management Obligations shall have any rights in connection with the management or
release of any Collateral or of the obligations of any Credit Party under this Agreement. No holder of Secured Hedge Obligations or Secured
Cash Management Obligations that obtains the benefits of any Guarantee or any Collateral by virtue of the provisions hereof or of any
other Credit Document shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under
any other Credit Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral) other than
in its capacity as a Lender or Agent and, in such case, only to the extent expressly provided in the Credit Documents. Notwithstanding
any other provision of this Agreement to the contrary, the Administrative Agent shall not be required to verify the payment of, or that
other satisfactory arrangements have been made with respect to, Obligations arising under Secured Hedge Agreements and Secured Cash Management
Agreements, unless the Administrative Agent has received written notice of such Obligations, together with such supporting documentation
as the Administrative Agent may request, from the applicable Cash Management Bank or Hedge Bank, as the case may be.

 

12.13        Intercreditor
Agreements Govern. The Administrative Agent, the Collateral Agent, and each Lender (a) hereby agrees that it will be bound by
and will take no actions contrary to the provisions of any intercreditor agreement entered into pursuant to the terms hereof, (b) hereby
authorizes and instructs the Administrative Agent and the Collateral Agent to enter into each intercreditor agreement entered into pursuant
to the terms hereof and to subject the Liens securing the secured obligations to the provisions thereof, and (c) hereby authorizes
and instructs the Administrative Agent and the Collateral Agent to enter into any intercreditor agreement that includes, or to amend
any then existing intercreditor agreement to provide for, the terms described in the definition of Permitted Other Indebtedness.

 

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12.14        Acknowledgements
of Lenders and Issuing Banks. (a) Each Lender and each Letter of Credit Issuer represents and warrants that (i) the Credit
Documents set forth the terms of a commercial lending facility, (ii) it is engaged in making, acquiring or holding commercial loans
and in providing other facilities set forth herein as may be applicable to such Lender or Letter of Credit Issuer, in each case in the
ordinary course of business, and not for the purpose of purchasing, acquiring or holding any other type of financial instrument (and
each Lender and each Letter of Credit Issuer agrees not to assert a claim in contravention of the foregoing), (iii) it has, independently
and without reliance upon the Administrative Agent, any Joint Lead Arranger, [any Syndication Agent, any Co-Documentation Agent] or any
other Lender or Letter of Credit Issuer, or any of the Related Parties of any of the foregoing, and based on such documents and information
as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement as a Lender, and to make, acquire
or hold Loans hereunder and (iv) it is sophisticated with respect to decisions to make, acquire and/or hold commercial loans and
to provide other facilities set forth herein, as may be applicable to such Lender or such Letter of Credit Issuer, and either it, or
the Person exercising discretion in making its decision to make, acquire and/or hold such commercial loans or to provide such other facilities,
is experienced in making, acquiring or holding such commercial loans or providing such other facilities. Each Lender and each Letter
of Credit Issuer also acknowledges that it will, independently and without reliance upon the Administrative Agent, any Joint Lead Arranger
and Bookrunner or any other Lender or Letter of Credit Issuer, or any of the Related Parties of any of the foregoing, and based on such
documents and information (which may contain material, non-public information within the meaning of the United States securities laws
concerning the Borrower and its Affiliates) as it shall from time to time deem appropriate, continue to make its own decisions in taking
or not taking action under or based upon this Agreement, any other Credit Document or any related agreement or any document furnished
hereunder or thereunder.

 

(b)            (i) Each
Lender hereby agrees that (x) if the Administrative Agent notifies such Lender that the Administrative Agent has determined in
its sole discretion that any funds received by such Lender from the Administrative Agent or any of its Affiliates (whether as a payment,
prepayment or repayment of principal, interest, fees or otherwise; individually and collectively, a “Payment”) were
erroneously transmitted to such Lender (whether or not known to such Lender), and demands the return of such Payment (or a portion thereof),
such Lender shall promptly, but in no event later than one Business Day thereafter, return to the Administrative Agent the amount of
any such Payment (or portion thereof) as to which such a demand was made in same day funds, together with interest thereon in respect
of each day from and including the date such Payment (or portion thereof) was received by such Lender to the date such amount is repaid
to the Administrative Agent at the greater of the NYFRB Rate and a rate determined by the Administrative Agent in accordance with banking
industry rules on interbank compensation from time to time in effect, and (y) to the extent permitted by applicable law, such
Lender shall not assert, and hereby waives, as to the Administrative Agent, any claim, counterclaim, defense or right of set-off or recoupment
with respect to any demand, claim or counterclaim by the Administrative Agent for the return of any Payments received, including without
limitation any defense based on “discharge for value” or any similar doctrine. A notice of the Administrative Agent to any
Lender under this Section 12.14(b) shall be conclusive, absent manifest error.

 

(ii)            Each
Lender hereby further agrees that if it receives a Payment from the Administrative Agent or any of its Affiliates (x) that
is in a different amount than, or on a different date from, that specified in a notice of payment sent by the Administrative Agent (or
any of its Affiliates) with respect to such Payment (a “Payment Notice”) or (y) that was not preceded or accompanied
by a Payment Notice, it shall be on notice, in each such case, that an error has been made with respect to such Payment.  Each Lender
agrees that, in each such case, or if it otherwise becomes aware a Payment (or portion thereof) may have been sent in error, such Lender
shall promptly notify the Administrative Agent of such occurrence and, upon demand from the Administrative Agent, it shall promptly,
but in no event later than one Business Day thereafter, return to the Administrative Agent the amount of any such Payment (or portion
thereof) as to which such a demand was made in same day funds, together with interest thereon in respect of each day from and including
the date such Payment (or portion thereof) was received by such Lender to the date such amount is repaid to the Administrative Agent
at the greater of the NYFRB Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on
interbank compensation from time to time in effect.

 

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(iii)           The
Borrower and each other Loan Party hereby agrees that (x) in the event an erroneous Payment (or portion thereof) are not recovered
from any Lender that has received such Payment (or portion thereof) for any reason, the Administrative Agent shall be subrogated to all
the rights of such Lender with respect to such amount and (y) an erroneous Payment shall not pay, prepay, repay, discharge or otherwise
satisfy any Obligations owed by the Borrower or any other Loan Party except, in each case, to the extent such erroneous Payment is, and
solely with respect to the amount of such erroneous Payment that is, comprised of funds of the Borrower or any other Loan Party.

 

(iv)           Each
party’s obligations under this Section 12.14(b) shall survive the resignation or replacement of the Administrative Agent
or any transfer of rights or obligations by, or the replacement of, a Lender, the termination of the Commitments or the repayment, satisfaction
or discharge of all Obligations under any Credit Document.

 

Section 13.              Miscellaneous

 

13.1          Amendments,
Waivers, and Releases. Except as otherwise expressly set forth in the Credit Documents, neither this Agreement nor any other Credit
Document, nor any terms hereof or thereof, may be amended, supplemented or modified except in accordance with the provisions of this
Section 13.1. Except as provided to the contrary in the Credit Documents (including under Section 2.14 or 2.15
or the fifth and sixth paragraphs hereof in respect of Replacement Term Loans, and other than with respect to any amendment, modification
or waiver contemplated in the proviso to clause (i) below), which shall only require the consent of the Lenders expressly
set forth therein and not Required Lenders, the Required Lenders may, or, with the written consent of the Required Lenders, the Administrative
Agent and/or the Collateral Agent may, from time to time, (a) enter into with the relevant Credit Party or Credit Parties written
amendments, supplements or modifications hereto and to the other Credit Documents for the purpose of adding any provisions to this Agreement
or the other Credit Documents or changing in any manner the rights of the Lenders or of the Credit Parties hereunder or thereunder or
(b) waive in writing, on such terms and conditions as the Required Lenders or the Administrative Agent and/or the Collateral Agent,
as the case may be, may specify in such instrument, any of the requirements of this Agreement or the other Credit Documents or any Default
or Event of Default and its consequences; provided, however, that each such waiver and each such amendment, supplement
or modification shall be effective only in the specific instance and for the specific purpose for which given; and provided, further,
that no such waiver and no such amendment, supplement or modification shall (x) (i) forgive or reduce any portion of any Loan
or extend the final scheduled maturity date of any Loan or reduce the stated rate (it being understood that only the consent of the Required
Lenders shall be necessary to waive any obligation of the Borrower to pay interest at the Default Rate or amend Section 2.8(c)),
or forgive any portion thereof, or extend the date for the payment, of any principal, interest or fee payable hereunder (other than as
a result of waiving the applicability of any post-default increase in interest rates), or extend the final expiration date of any Letter
of Credit beyond the L/C Facility Maturity Date, or amend or modify any provisions of Section 13.20, or amend or modify the
provisions of Section 11.13 or Section 13.8(a) in a manner that would alter the payment waterfall or pro
rata sharing of payments required thereby, or subordinate in right of payment of the Loans to any other obligation or subordinate Liens
on all or substantially all of the Collateral granted to the Administrative Agent under the Security Documents for the benefit of the
Lenders, or make any Loan, interest, Fee or other amount payable in any currency other than expressly provided herein, in each case without
the written consent of each Lender directly and adversely affected thereby; provided that a waiver of any condition precedent
in Section 6 or 7 of this Agreement, the waiver of any Default, Event of Default, default interest, mandatory prepayment
or reductions, any modification, waiver or amendment to the financial covenant definitions or financial ratios or any component thereof
or the waiver of any other covenant shall not constitute an increase of any Commitment of a Lender, a reduction or forgiveness in the
interest rates or the fees or premiums or a postponement of any date scheduled for the payment, premium of principal or interest or an
extension of the final maturity of any Loan or the scheduled termination date of any Commitment, in each case for purposes of this clause
(i), or (ii) consent to the assignment or transfer by the Borrower of its rights and obligations under any Credit Document to which
it is a party (except as permitted pursuant to Section 10.3), in each case without the written consent of each Lender directly
and adversely affected thereby, or (iii) amend, modify or waive any provision of Section 12 without the written consent
of the then-current Administrative Agent and Collateral Agent in a manner that directly and adversely affects such Person, or (iv) amend,
modify or waive any provision of Section 3 with respect to any Letter of Credit without the written consent of the Letter
of Credit Issuer to the extent such amendment, modification or waiver directly and adversely affects the Letters of Credit Issuer, or
(v) amend, modify Section 2.16 with respect to any Swingline Loan without the written consent of the Swingline Lender
to the extent such amendment, modification or waiver directly and adversely affects the Swingline Lender, or (vi) change any Revolving
Credit Commitment to a Term Loan Commitment, or change any Term Loan Commitment to a Revolving Credit Commitment, in each case without
the prior written consent of each Lender directly and adversely affected thereby, or (vii) release all or substantially all of the
Guarantors under the Guarantees (except as expressly permitted by the Guarantees, the First Lien Intercreditor Agreement or this Agreement)
or release all or substantially all of the Collateral under the Security Documents (except as expressly permitted by the Security Documents,
the First Lien Intercreditor Agreement or this Agreement) without the prior written consent of each Lender, or (viii) decrease the
Initial Term Loan Repayment Amount applicable to Initial Term Loans or extend any scheduled Initial Term Loan Repayment Date applicable
to Initial Term Loans, in each case without the written consent of each Lender directly and adversely affected thereby, or (ix) reduce
the percentages specified in the definitions of the terms Required Lenders, Required Revolving Credit Lenders or Required Initial Term
Loan Lenders or amend, modify or waive any provision of this Section 13.1 that has the effect of decreasing the number of
Lenders that must approve any amendment, modification or waiver without the written consent of each Lender directly and adversely affected
thereby, (y) notwithstanding anything to the contrary in clause (x), (i) extend the final expiration date of any Lender’s
Commitment or (ii) increase the aggregate amount of the Commitments of any Lender, in each case, without the written consent of
such Lender, or (z) in connection with an amendment that addresses solely a repricing transaction in which any Class of Term
Loans is refinanced with a replacement Class of Term Loans bearing (or is modified in such a manner such that the resulting Term
Loans bear) a lower Effective Yield (a “Permitted Repricing Amendment”), only the consent of the Lenders holding Term
Loans subject to such permitted repricing transaction that will continue as a Lender in respect of the repriced tranche of Term Loans
or modified Term Loans.

 

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Notwithstanding anything
to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder,
except (x) that the Commitment of such Lender may not be increased or extended without the consent of such Lender and (y) for
any such amendment, waiver or consent that treats such Defaulting Lender disproportionately and adversely from the other Lenders of the
same Class (other than because of its status as a Defaulting Lender).

 

Notwithstanding the foregoing,
only the Required Revolving Credit Lenders shall have the ability to waive, amend, supplement or modify the covenant set forth in Section 10.7
(or the defined terms to the extent used therein but not as used in any other Section of this Agreement) or Section 11
(solely as it relates to Section 10.7).

 

Any such waiver and any such
amendment, supplement or modification shall apply equally to each of the affected Lenders and shall be binding upon Holdings, the Borrower,
such Lenders, the Administrative Agent and all future holders of the affected Loans. In the case of any waiver, Holdings, the Borrower,
the Lenders and the Administrative Agent shall be restored to their former positions and rights hereunder and under the other Credit
Documents, and any Default or Event of Default waived shall be deemed to be cured and not continuing, it being understood that no such
waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. In connection with
the foregoing provisions, the Administrative Agent may, but shall have no obligations to, with the concurrence of any Lender, execute
amendments, modifications, waivers or consents on behalf of such Lender.

 

Notwithstanding the foregoing,
in addition to any credit extensions and related Joinder Agreement(s) effectuated without the consent of Lenders in accordance with
Section 2.14, this Agreement may be amended (or amended and restated) with the written consent of the Required Lenders, the
Administrative Agent, Holdings and the Borrower (a) to add one or more additional credit facilities to this Agreement and to permit
the extensions of credit from time to time outstanding thereunder and the accrued interest and fees in respect thereof to share ratably
in the benefits of this Agreement and the other Credit Documents with the Term Loans and the Revolving Credit Loans and the accrued interest
and fees in respect thereof and (b) to include appropriately the Lenders holding such credit facilities in any determination of
the Required Lenders and other definitions related to such New Term Loans and Revolving Credit Loans.

 

In addition, notwithstanding
the foregoing, this Agreement may be amended with the written consent of the Administrative Agent, Holdings, the Borrower and the Lenders
providing the relevant Replacement Term Loans to permit the refinancing of all outstanding Term Loans of any Class (“Refinanced
Term Loans”) with a replacement term loan tranche (“Replacement Term Loans”) hereunder; provided
that (a) the aggregate principal amount of such Replacement Term Loans shall not exceed the aggregate principal amount of such Refinanced
Term Loans (plus an amount equal to all accrued but unpaid interest, fees, premiums, and expenses incurred in connection therewith),
(b) the Applicable Margin for such Replacement Term Loans shall not be higher than the Applicable Margin for such Refinanced Term
Loans, unless any such Applicable Margin applies after the Initial Term Loan Maturity Date, (c) the weighted average life to maturity
of such Replacement Term Loans shall not be shorter than the weighted average life to maturity of such Refinanced Term Loans at the time
of such refinancing (except to the extent of nominal amortization for periods where amortization has been eliminated as a result of prepayment
of the applicable Term Loans), and (d) the covenants, events of default and guarantees shall be not materially more restrictive
(taken as a whole) (as determined in good faith by the Borrower) to the Lenders providing such Replacement Term Loans than the covenants,
events of default and guarantees applicable to such Refinanced Term Loans, except to the extent necessary to provide for covenants, events
of default and guarantees applicable to any period after the maturity date in respect of the Refinanced Term Loans in effect immediately
prior to such refinancing.

 

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The Lenders hereby irrevocably
agree that the Liens granted to the Collateral Agent by the Credit Parties on any Collateral shall be automatically released (i) in
full, upon the Termination Date, (ii) upon the sale or other disposition of such Collateral (including as part of or in connection
with any other sale or other disposition permitted hereunder) to any Person other than another Credit Party, to the extent such sale
or other disposition is made in compliance with the terms of this Agreement (and the Collateral Agent may rely conclusively on a certificate
to that effect provided to it by any Credit Party upon its reasonable request without further inquiry), (iii) to the extent such
Collateral is comprised of property leased to a Credit Party, upon termination or expiration of such lease, (iv) if the release
of such Lien is approved, authorized or ratified in writing by the Required Lenders (or such other percentage of the Lenders whose consent
may be required in accordance with this Section 13.1), (v) to the extent the property constituting such Collateral is
owned by any Guarantor, upon the release of such Guarantor from its obligations under the applicable Guarantee (in accordance with the
second following sentence), (vi) as required to effect any sale or other disposition of Collateral in connection with any exercise
of remedies of the Collateral Agent pursuant to the Security Documents, and (vii) if such assets constitute Excluded Property or
Excluded Stock and Stock Equivalents. Any such release shall not in any manner discharge, affect, or impair the Obligations or any Liens
(other than those being released) upon (or obligations (other than those being released) of the Credit Parties in respect of) all interests
retained by the Credit Parties, including the proceeds of any sale, all of which shall continue to constitute part of the Collateral
except to the extent otherwise released in accordance with the provisions of the Credit Documents. Additionally, the Lenders hereby irrevocably
agree that any Restricted Subsidiary that is a Guarantor shall be released from the Guarantees upon consummation of any transaction not
prohibited hereunder resulting in such Subsidiary ceasing to constitute a Restricted Subsidiary or otherwise no longer being required
to be a Guarantor hereunder. The Lenders hereby authorize the Administrative Agent and the Collateral Agent, as applicable, to execute
and deliver any instruments, documents, and agreements necessary or desirable to evidence and confirm the release of any Guarantor or
Collateral pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lender.

 

Notwithstanding anything
herein to the contrary, the Credit Documents may be amended to add syndication or documentation agents and make customary changes and
references related thereto with the consent of only the Borrower and the Administrative Agent.

 

Notwithstanding anything
in this Agreement (including, without limitation, this Section 13.1) or any other Credit Document to the contrary, (i) this
Agreement and the other Credit Documents may be amended to effect an incremental facility or extension facility pursuant to Section 2.14
(and the Administrative Agent and the Borrower may effect such amendments to this Agreement and the other Credit Documents without
the consent of any other party as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower,
to effect the terms of any such incremental facility or extension facility); (ii) no Lender consent is required to effect any amendment
or supplement to a First Lien Intercreditor Agreement, Second Lien Intercreditor Agreement or other intercreditor agreement or arrangement
permitted under this Agreement that is for the purpose of adding the holders of any Indebtedness as expressly contemplated by the terms
of a First Lien Intercreditor Agreement, Second Lien Intercreditor Agreement or such other intercreditor agreement or arrangement permitted
under this Agreement, as applicable (it being understood that any such amendment or supplement may make such other changes to the applicable
intercreditor agreement as, in the good faith determination of the Administrative Agent in consultation with the Borrower, are required
to effectuate the foregoing; provided that such other changes are not adverse, in any material respect, to the interests of the
Lenders taken as a whole); provided, further, that no such agreement shall amend, modify or otherwise directly and adversely
affect the rights or duties of the Administrative Agent hereunder or under any other Credit Document without the prior written consent
of the Administrative Agent; (iii) any provision of this Agreement or any other Credit Document may be amended by an agreement in
writing entered into by the Borrower and the Administrative Agent to (x) cure any ambiguity, omission, mistake, defect or inconsistency
(as reasonably determined by the Administrative Agent and the Borrower) and (y) to effect administrative changes of a technical
or immaterial nature (including to effect changes to the terms and conditions applicable solely to the Swingline Lender or Letter of
Credit Issuer in respect of issuances of Swingline Loans or Letters of Credit, respectively) and such amendment shall be deemed approved
by the Lenders if the Lenders shall have received at least five Business Days’ prior written notice of such change and the Administrative
Agent shall not have received, within five Business Days of the date of such notice to the Lenders, a written notice from the Required
Lenders stating that the Required Lenders object to such amendment; and (iv) guarantees, collateral documents and related documents
executed by Credit Parties in connection with this Agreement may be in a form reasonably determined by the Administrative Agent and may
be, together with any other Credit Document, entered into, amended, supplemented or waived, without the consent of any other Person,
by the applicable Credit Party or Credit Parties and the Administrative Agent or the Collateral Agent in its or their respective sole
discretion, to (A) effect the granting, perfection, protection, expansion or enhancement of any security interest in any Collateral
or additional property to become Collateral for the benefit of the Secured Parties, (B) as required by local law or advice of counsel
to give effect to, or protect any security interest for the benefit of the Secured Parties, in any property or so that the security interests
therein comply with applicable Requirement of Law, or (C) to cure ambiguities, omissions, mistakes or defects (as reasonably determined
by the Administrative Agent and the Borrower) or to cause such guarantee, collateral security document or other document to be consistent
with this Agreement and the other Credit Documents.

 

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Notwithstanding anything
in this Agreement or any Security Document to the contrary, the Administrative Agent may, in its sole discretion, grant extensions of
time for the satisfaction of any of the requirements under Sections 9.12, 9.13 and 9.14 or any Security Documents
in respect of any particular Collateral or any particular Subsidiary if it determines that the satisfaction thereof with respect to such
Collateral or such Subsidiary cannot be accomplished without undue expense or unreasonable effort or due to factors beyond the control
of Holdings, the Borrower and the Restricted Subsidiaries by the time or times at which it would otherwise be required to be satisfied
under this Agreement or any Security Document.

 

13.2          Notices.
Unless otherwise expressly provided herein, all notices and other communications provided for hereunder or under any other Credit Document
shall be in writing (including by facsimile transmission). All such written notices shall be mailed, faxed or delivered to the applicable
address, facsimile number or electronic mail address, and all notices and other communications expressly permitted hereunder to be given
by telephone shall be made to the applicable telephone number, as follows:

 

(a)            if
to Holdings, the Borrower, the Administrative Agent, the Collateral Agent, the Letter of Credit Issuer or the Swingline Lender, to the
address, facsimile number, electronic mail address or telephone number specified for such Person on Schedule 13.2 or to such other
address, facsimile number, electronic mail address or telephone number as shall be designated by such party in a notice to the other
parties; and

 

(b)            if
to any other Lender, to the address, facsimile number, electronic mail address or telephone number specified in its Administrative Questionnaire
or to such other address, facsimile number, electronic mail address or telephone number as shall be designated by such party in a notice
to Holdings and the Borrower, the Administrative Agent, the Collateral Agent, the Letter of Credit Issuer and the Swingline Lender.

 

All such notices and other communications shall
be deemed to be given or made upon the earlier to occur of (i) actual receipt by the relevant party hereto and (ii) (A) if
delivered by hand or by courier, when signed for by or on behalf of the relevant party hereto; (B) if delivered by mail, three Business
Days after deposit in the mails, postage prepaid; (C) if delivered by facsimile, when sent and receipt has been confirmed by telephone;
and (D) if delivered by electronic mail, when delivered; provided that notices and other communications to the Administrative
Agent or the Lenders pursuant to Sections 2.3, 2.6, 2.9, 4.2 and 5.1 shall not be effective until
received.

 

13.3          No
Waiver; Cumulative Remedies. No failure to exercise and no delay in exercising, on the part of the Administrative Agent, the Collateral
Agent or any Lender, any right, remedy, power or privilege hereunder or under the other Credit Documents shall operate as a waiver thereof,
nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof
or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative
and not exclusive of any rights, remedies, powers, and privileges provided by law.

 

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13.4          Survival
of Representations and Warranties. All representations and warranties made hereunder, in the other Credit Documents and in any document,
certificate or statement delivered pursuant hereto or in connection herewith shall survive the execution and delivery of this Agreement
and the making of the Loans hereunder.

 

13.5          Payment
of Expenses; Indemnification.

 

(a)            Each
of Holdings and the Borrower, jointly and severally, agree (i) to pay or reimburse each of the Agents for all their reasonable and
documented out-of-pocket costs and expenses (without duplication) incurred in connection with the development, preparation, execution
and delivery of, and any amendment, supplement, modification to, waiver and/or enforcement this Agreement and the other Credit Documents
and any other documents prepared in connection herewith or therewith, and the consummation and administration of the transactions contemplated
hereby and thereby, including the reasonable fees, disbursements and other charges of Cravath, Swaine & Moore LLP (or such other
counsel as may be agreed by the Administrative Agent and the Borrower and in each case subject to the outside counsel guidelines established
by Holdings and the Borrower), one counsel in each relevant local jurisdiction with the consent of the Borrower (such consent not to
be unreasonably withheld or delayed), (ii) to pay or reimburse each Agent for all their reasonable and documented out-of-pocket
costs and expenses incurred in connection with the enforcement or preservation of any rights under this Agreement, the other Credit Documents
and any such other documents, including the reasonable fees, disbursements and other charges of one firm or counsel to the Administrative
Agent and the Collateral Agent, and, to the extent required, one firm or local counsel in each relevant local jurisdiction with the Borrower’s
consent (such consent not to be unreasonably withheld or delayed (which may include a single special counsel acting in multiple jurisdictions),
and (iii) to pay, indemnify and hold harmless each Lender, each Agent, the Letter of Credit Issuer and the Swingline Lender and
their respective Related Parties (without duplication) (the “Indemnified Persons”) from and against any and all losses,
claims, damages, liabilities, obligations, demands, actions, judgments, suits, costs, expenses, disbursements or penalties of any kind
or nature whatsoever (and the reasonable and documented out-of-pocket fees, expenses, disbursements and other charges of one firm of
counsel for all Indemnified Persons, taken as a whole (and, in the case of an actual or perceived conflict of interest where the Indemnified
Person affected by such conflict notifies the Borrower of any existence of such conflict and in connection with the investigating or
defending any of the foregoing (including the reasonable fees) has retained its own counsel, of another firm of counsel in each relevant
jurisdiction for such affected Indemnified Person), and to the extent required, one firm or local counsel in each relevant jurisdiction
(which may include a single special counsel acting in multiple jurisdictions)) of any such Indemnified Person arising out of or with
respect to the Transactions or to the execution, enforcement, delivery, performance and administration of this Agreement, the other Credit
Documents and any such other documents or relating to any action, claim, litigation, investigation or other proceeding (regardless of
whether such Indemnified Person is a party thereto or whether or not such action, claim, litigation or proceeding was brought by Holdings,
any of its Subsidiaries or any other Person), arising out of the foregoing, including any of the foregoing relating to the violation
of, noncompliance with or liability under, any Environmental Law relating in any way to the Borrower or any of its Subsidiaries or any
actual or alleged presence, Release or threatened Release of Hazardous Materials relating in any way to Borrower or any of its Subsidiaries
(all the foregoing in this clause (iii), collectively, the “Indemnified Liabilities”); provided
that Holdings and the Borrower shall have no obligation hereunder to any Indemnified Person with respect to Indemnified Liabilities to
the extent arising from (i) the gross negligence, bad faith or willful misconduct of such Indemnified Person or any of its Related
Parties as determined in a final and non-appealable judgment of a court of competent jurisdiction, (ii) a material breach of the
obligations of such Indemnified Person or any of its Related Parties under the terms of this Agreement by such Indemnified Person or
any of its Related Parties as determined in a final and non-appealable judgment of a court of competent jurisdiction or (iii) any
proceeding between and among Indemnified Persons that does not involve an act or omission by Holdings, the Borrower or their respective
Restricted Subsidiaries; provided the Agents, to the extent acting in their capacity as such, shall remain indemnified in respect of
such proceeding, to the extent that neither of the exceptions set forth in clause (i) or (ii) of the immediately
preceding proviso applies to such person at such time. The agreements in this Section 13.5 shall survive repayment of the
Loans and all other amounts payable hereunder. This Section 13.5 shall not apply with respect to Taxes, other than any Taxes
that represent losses, claims, damages, liabilities, obligations, penalties, actions, judgments, suits, costs, expenses or disbursements
arising from any non-Tax claim.

 

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(b)            No
Credit Party nor any Indemnified Person shall have any liability for any special, punitive, indirect or consequential damages resulting
from this Agreement or any other Credit Document or arising out of its activities in connection herewith or therewith (whether before
or after the Closing Date); provided that the foregoing shall not limit Holdings’ and the Borrower’s indemnification
obligations to the Indemnified Persons pursuant to Section 13.5(a) in respect of damages incurred or paid by an Indemnified
Person to a third party. No Indemnified Person shall be liable for any damages arising from the use by unintended recipients of any information
or other materials distributed by it through telecommunications, electronic or other information transmission systems in connection with
this Agreement or the other Credit Documents or the transactions contemplated hereby or thereby, except to the extent that such damages
have resulted from the willful misconduct, bad faith or gross negligence of any Indemnified Person or any of its Related Parties as determined
by a final and non-appealable judgment of a court of competent jurisdiction.

 

13.6          Successors
and Assigns; Participations and Assignments.

 

(a)            The
provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns permitted hereby, except that (i) except as expressly permitted by Section 10.3, the Borrower may not assign
or otherwise transfer any of their rights or obligations hereunder without the prior written consent of the Administrative Agent and
each Lender (and any attempted assignment or transfer by the Borrower without such consent shall be null and void) and (ii) no Lender
may assign or otherwise transfer its rights or obligations hereunder except in accordance with this Section 13.6. Nothing
in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective
successors and assigns permitted hereby, Participants (to the extent provided in clause (c) of this Section 13.6)
and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the Collateral Agent, the
Letter of Credit Issuer, the Swingline Lender and the Lenders and each other Person entitled to indemnification under Section 13.5)
any legal or equitable right, remedy or claim under or by reason of this Agreement.

 

(b)            (i) 
Subject to the conditions set forth in clause (b)(ii) below and Section 13.7, any Lender may at any time assign
to one or more assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitments
and the Loans (including participations in L/C Obligations or Swingline Loans) at the time owing to it) with the prior written consent
(such consent not to be unreasonably withheld or delayed; it being understood that, without limitation, the relevant Person shall have
the right to withhold its consent to any assignment if, in order for such assignment to comply with applicable law, the Borrower would
be required to obtain the consent of, or make any filing or registration with, any Governmental Authority) of:

 

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(A)            the
Borrower (not to be unreasonably withheld or delayed); provided that no consent of the Borrower shall be required (1) for
an assignment of Term Loans to (X) a Lender, (Y) an Affiliate of a Lender, or (Z) an Approved Fund, (2) for an assignment
of Loans or Commitments to any assignee if an Event of Default under Section 11.1 or Section 11.5 (with respect
to the Borrower) has occurred and is continuing, (3) with respect to the Term Loans only, unless the Borrower has already objected
thereto by delivering written notice to the Administrative Agent within ten (10) Business Days after the receipt of a written request
for consent thereto or (4) for an assignment from GS Bank to Goldman Sachs Lending Partners LLC; and

 

(B)            the
Administrative Agent (not to be unreasonably withheld or delayed) and, with respect to Revolving Credit Commitments and Revolving Credit
Loans only, each Swingline Lender and Letter of Credit Issuer (not to be unreasonably withheld or delayed); provided that no consent
of the Administrative Agent shall be required for an assignment of any Term Loan to a Lender, an Affiliate of a Lender, an Approved Fund
or an assignment from GS Bank to Goldman Sachs Lending Partners LLC.

 

Notwithstanding the foregoing,
no such assignment shall be made (i) to a natural Person, Disqualified Lender (provided, however, that assignments
may be made to Disqualified Lenders unless a list of Disqualified Lenders has been made available to all Lenders who so request) or Defaulting
Lender and (ii) with respect to the Revolving Credit Commitments, Holdings, the Borrower or any of their Subsidiaries or any Affiliated
Lender (other than an Affiliated Institutional Lender). For the avoidance of doubt, the Administrative Agent shall bear no responsibility
or liability for monitoring and enforcing the list of Persons who are Disqualified Lenders at any time.

 

(ii)     
         Assignments shall be subject to the following additional conditions:

 

(A)            except
in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund or an assignment of the entire remaining amount
of the assigning Lender’s Commitment or Loans of any Class, the amount of the Commitment or Loans of the assigning Lender subject
to each such assignment (determined as of the date the Assignment and Acceptance with respect to such assignment is delivered to the
Administrative Agent) shall not be less than $5,000,000 in the case of Revolving Credit Commitments and $1,000,000 in the case of Term
Loans, unless each of the Borrower and the Administrative Agent otherwise consents (which consents shall not be unreasonably withheld
or delayed); provided that no such consent of the Borrower shall be required if an Event of Default under Section 11.1 or Section 11.5 has occurred and is continuing; provided, further, that contemporaneous assignments by
a Lender and its Affiliates or Approved Funds shall be aggregated for purposes of meeting the minimum assignment amount requirements
stated above (and simultaneous assignments to or by two or more Related Funds shall be treated as one assignment), if any;

 

(B)            each
partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations
under this Agreement; provided that this clause shall not be construed to prohibit the assignment of a proportionate part of all
the assigning Lender’s rights and obligations in respect of one Class of Commitments or Loans;

 

(C)            the
parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Acceptance via an electronic settlement
system or other method reasonably acceptable to the Administrative Agent, together with a processing and recordation fee in the amount
of $3,500; provided that the Administrative Agent may, in its sole discretion, elect to waive such processing and recordation
fee in the case of any assignment; provided, further, that such processing and recordation fee shall not be payable in
the case of assignments by any Agent or any of its Affiliates;

 

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(D)            the
assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an administrative questionnaire in a form approved by
the Administrative Agent (the “Administrative Questionnaire”) and applicable tax forms (as required under Section 5.4(e));
and

 

(E)            any
assignment to Holdings, the Borrower, any Subsidiary or an Affiliated Lender (other than an Affiliated Institutional Lender) shall also
be subject  to the requirements of Section 13.6(h).

 

For the avoidance of doubt,
the Administrative Agent bears no responsibility for tracking or monitoring assignments to or participations by any Affiliated Lender
or any Disqualified Lender.

 

(iii)           Subject
to acceptance and recording thereof pursuant to clause (b)(v) of this Section 13.6, from and after the effective
date specified in each Assignment and Acceptance, the assignee thereunder shall be a party hereto and, to the extent of the interest
assigned by such Assignment and Acceptance, have the rights and obligations of a Lender under this Agreement, and the assigning Lender
thereunder shall, to the extent of the interest assigned by such Assignment and Acceptance, be released from its obligations under this
Agreement (and, in the case of an Assignment and Acceptance covering all of the assigning Lender’s rights and obligations under
this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 2.10,
2.11, 5.4 and 13.5). Any assignment or transfer by a Lender of rights or obligations under this Agreement that does
not comply with this Section 13.6 shall be treated for purposes of this Agreement as a sale by such Lender of a participation
in such rights and obligations in accordance with clause (c) of this Section 13.6. For the avoidance of doubt,
in case of an assignment to a new Lender pursuant to this Section 13.6, (i) the Administrative Agent, the new Lender
and other Lenders shall acquire the same rights and assume the same obligations between themselves as they would have acquired and assumed
had the new Lender been an original Lender signatory to this Agreement with the rights and/or obligations acquired or assumed by it as
a result of the assignment and to the extent of the assignment the assigning Lender shall each be released from further obligations under
the Credit Documents and (ii) the benefit of each Security Document shall be maintained in favor of the new Lender.

 

(iv)           The
Administrative Agent, acting for this purpose as a non-fiduciary agent of the Borrower, shall maintain at the Administrative Agent’s
Office a copy of each Assignment and Acceptance delivered to it and a register for the recordation of the names and addresses of the
Lenders, and the Commitments of, and principal amount of the Loans (and stated interest amounts) and any payment made by the Letter of
Credit Issuer under any Letter of Credit or by the Swingline Lender under any Swingline Loan owing to each Lender pursuant to the terms
hereof from time to time (the “Register”). The entries in the Register shall be conclusive, absent manifest error,
and the Borrower, the Administrative Agent, the Collateral Agent, the Letter of Credit Issuer, the Swingline Lender and the Lenders shall
treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this
Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower, the Collateral Agent,
the Letter of Credit Issuer, the Swingline Lender, the Administrative Agent and its Affiliates and, with respect to itself, any Lender,
at any reasonable time and from time to time upon reasonable prior notice.

 

(v)            Upon
its receipt of a duly completed Assignment and Acceptance executed by an assigning Lender and an assignee, the assignee’s completed
Administrative Questionnaire and applicable tax forms (unless the assignee shall already be a Lender hereunder), the processing and recordation
fee referred to in clause (b) of this Section 13.6 and any written consent to such assignment required by clause
(b) of this Section 13.6, the Administrative Agent shall promptly accept such Assignment and Acceptance and record
the information contained therein in the Register. No assignment, whether or not evidenced by a promissory note, shall be effective for
purposes of this Agreement unless it has been recorded in the Register as provided in this clause (b)(v).

 

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(c)     (i)    Any
Lender may, without the consent of the Borrower or the Administrative Agent, the Letter of Credit Issuer or the Swingline Lender, sell
participations to one or more banks or other entities (other than (x) a natural person, (y) Holdings and its Subsidiaries and
(z) any Disqualified Lender provided, however, that, notwithstanding clause (y) hereof, participations may be
sold to Disqualified Lenders unless a list of Disqualified Lenders has been made available to all Lenders who so request) (each, a “Participant”)
in all or a portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its Commitments
and the Loans owing to it); provided that (A) such Lender’s obligations under this Agreement shall remain unchanged,
(B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, and (C) the
Borrower, the Administrative Agent, the Letter of Credit Issuer, and the other Lenders shall continue to deal solely and directly with
such Lender in connection with such Lender’s rights and obligations under this Agreement. For the avoidance of doubt, the Administrative
Agent shall bear no responsibility or liability for monitoring and enforcing the list of Disqualified Lenders or the sales of participations
thereto at any time. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender
shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement
or any other Credit Document; provided that such agreement or instrument may provide that such Lender will not, without the consent
of the Participant, agree to any amendment, modification or waiver described in clauses (i) and (vii) of the
second proviso to Section 13.1 that affects such Participant. Subject to clause (c)(ii) of this Section 13.6,
the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.10, 2.11, 3.5, and 5.4 to the same extent as if it were a Lender (subject to the limitations and requirements of those Sections as though it were a Lender
and had acquired its interest by assignment pursuant to clause (b) of this Section 13.6, including the requirements
of clause (e) of Section 5.4 (it being agreed that any documentation required under Section 5.4(e) shall
be provided to the participating Lender)). To the extent permitted by law, each Participant also shall be entitled to the benefits of
Section 13.8(b) as though it were a Lender; provided such Participant shall be subject to Section 13.8(a) as
though it were a Lender.

 

(ii)            A
Participant shall not be entitled to receive any greater payment under Section 2.10, 2.11, 3.5 or 5.4
than the applicable Lender would have been entitled to receive absent the sale of such the participation sold to such Participant, unless
the sale of the participation to such Participant is made with the Borrower’s prior written consent (which consent shall not be
unreasonably withheld). Each Lender that sells a participation shall, acting for this purpose as a non-fiduciary agent of the Borrower,
maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest amounts)
of each Participant’s interest in the Loans or other obligations under this Agreement (the “Participant Register”).
The entries in the Participant Register shall be conclusive, absent manifest error, and such Lender shall treat each Person whose name
is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice
to the contrary. No Lender shall have any obligation to disclose all or any portion of the Participant Register to any Person (including
the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans, letters of credit
or its other obligations under any Credit Document) except to the extent that such disclosure is necessary to establish that such commitment,
loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations.

 

(d)            Any
Lender may, without the consent of the Borrower or the Administrative Agent, at any time pledge or assign a security interest in all
or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure
obligations to a Federal Reserve Bank or other central bank having jurisdiction over such Lender, and this Section 13.6 shall
not apply to any such pledge or assignment of a security interest; provided that no such pledge or assignment of a security interest
shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

 

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(e)            Subject
to Section 13.16, the Borrower authorizes each Lender to disclose to any Participant, secured creditor of such Lender or
assignee (each, a “Transferee”) and any prospective Transferee any and all financial information in such Lender’s
possession concerning the Borrower and their Affiliates that has been delivered to such Lender by or on behalf of the Borrower and their
Affiliates pursuant to this Agreement or that has been delivered to such Lender by or on behalf of the Borrower and their Affiliates
in connection with such Lender’s credit evaluation of the Borrower and their Affiliates prior to becoming a party to this Agreement.

 

(f)          
   The words “execution,” “signed,” “signature,” and words of like import in or related to
any document to be signed in connection with this Agreement and the transactions contemplated hereby (including without limitation
Assignment and Acceptances, amendments or other modifications, Notices of Borrowing, waivers and consents) shall be deemed to
include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect,
validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to
the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce
Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic
Transactions Act.

 

(g)            SPV
Lender. Notwithstanding anything to the contrary contained herein, any Lender (a “Granting Lender”) may grant
to a special purpose funding vehicle (an “SPV”), identified as such in writing from time to time by the Granting Lender
to the Administrative Agent and the Borrower, the option to provide to the Borrower all or any part of any Loan that such Granting Lender
would otherwise be obligated to make the Borrower pursuant to this Agreement; provided that (i) nothing herein shall constitute
a commitment by any SPV to make any Loan and (ii) if an SPV elects not to exercise such option or otherwise fails to provide all
or any part of such Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms hereof. The making of a Loan
by an SPV hereunder shall utilize the Commitment of the Granting Lender to the same extent, and as if, such Loan were made by such Granting
Lender. Each party hereto hereby agrees that no SPV shall be liable for any indemnity or similar payment obligation under this Agreement
(all liability for which shall remain with the Granting Lender). In furtherance of the foregoing, each party hereto hereby agrees (which
agreement shall survive the termination of this Agreement) that, prior to the date that is one year and one day after the payment in
full of all outstanding commercial paper or other senior indebtedness of any SPV, it shall not institute against, or join any other Person
in instituting against, such SPV any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings under the laws of
the United States or any State thereof. In addition, notwithstanding anything to the contrary contained in this Section 13.6,
any SPV may (i) with notice to, but without the prior written consent of, the Borrower and the Administrative Agent and without
paying any processing fee therefor, assign all or a portion of its interests in any Loans to the Granting Lender or to any financial
institutions (consented to by the Borrower and the Administrative Agent) other than a Disqualified Lender providing liquidity and/or
credit support to or for the account of such SPV to support the funding or maintenance of Loans and (ii) subject to Section 13.16,
disclose on a confidential basis any non-public information relating to its Loans to any rating agency, commercial paper dealer or provider
of any surety, guarantee or credit or liquidity enhancement to such SPV. This Section 13.6(g) may not be amended without
the written consent of the SPV. Notwithstanding anything to the contrary in this Agreement but subject to the following sentence, each
SPV shall be entitled to the benefits of Sections 2.10, 2.11 and 5.4 to the same extent as if it were a Lender (subject
to the limitations and requirements of those Sections as though it were a Lender and had acquired its interest by assignment pursuant
to clause (b) of this Section 13.6, including the requirements of clause (e) of Section 5.4 (it being agreed that any documentation required under Section 5.4(e) shall be provided to the Granting Lender)).
Notwithstanding the prior sentence, an SPV shall not be entitled to receive any greater payment under Section 2.10, 2.11
or 5.4 than its Granting Lender would have been entitled to receive absent the grant to such SPV, unless such grant to such
SPV is made with the Borrower’s prior written consent (which consent shall not be unreasonably withheld).

 

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(h)            Notwithstanding
anything to the contrary contained herein, (x) any Lender may, at any time, assign all or a portion of its rights and obligations
under this Agreement in respect of its Term Loans to Holdings, the Borrower, any Subsidiary or an Affiliated Lender and (y) Holdings,
the Borrower and any Subsidiary may, from time to time, purchase or prepay Term Loans, in each case, on a non-pro rata basis through
(x) Dutch auction procedures open to all applicable Lenders on a pro rata basis in accordance with customary procedures to be agreed
between Holdings or the Borrower and the Auction Agent or (y) open market purchases; provided that:

 

(i)              any
Loans or Commitments acquired by Holdings, the Borrower, or any other Subsidiary shall be retired and cancelled promptly upon the acquisition
thereof;

 

(ii)             by
its acquisition of Loans or Commitments, an Affiliated Lender shall be deemed to have acknowledged and agreed that:

 

		(A)	it
                                            shall not have any right to (i) attend or participate in (including, in each case, by
                                            telephone) any meeting (including “Lender only” meetings) or discussions (or
                                            portion thereof) among the Administrative Agent or any Lender to which representatives of
                                            the Borrower are not then present, (ii)receive any information or material prepared by the
                                            Administrative Agent or any Lender or any communication by or among the Administrative Agent
                                            and one or more Lenders or any other material which is “Lender only”, except
                                            to the extent such information or materials have been made available to the Borrower or its
                                            representatives (and in any case, other than the right to receive notices of prepayments
                                            and other administrative notices in respect of its Loans required to be delivered to Lenders
                                            pursuant to Section 2) or receive any advice of counsel to the Administrative
                                            Agent or (iii) make any challenge to the Administrative Agent’s or any other Lender’s
                                            attorney-client privilege on the basis of its status as a Lender; and

 

		(B)	except
                                            with respect to any amendment, modification, waiver, consent or other action (I) in
                                            Section 13.1 requiring the consent of all Lenders, all Lenders directly and adversely
                                            affected or specifically such Lender, (II) that alters an Affiliated Lender’s
                                            pro rata share of any payments given to all Lenders, or (III) affects the Affiliated
                                            Lender (in its capacity as a Lender) in a manner that is disproportionate to the effect on
                                            any Lender in the same Class, the Loans held by an Affiliated Lender shall be disregarded
                                            in both the numerator and denominator in the calculation of any Lender vote (and, in the
                                            case of a plan of reorganization that does not affect the Affiliated Lender in a manner that
                                            is materially adverse to such Affiliated Lender relative to other Lenders, shall be deemed
                                            to have voted its interest in the Term Loans in the same proportion as the other Lenders)
                                            (and shall be deemed to have been voted in the same percentage as all other applicable Lenders
                                            voted if necessary to give legal effect to this paragraph); and

 

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(iii)            the
aggregate principal amount of Term Loans held at any one time by Affiliated Lenders may not exceed 30% of the aggregate principal amount
of all Term Loans outstanding at the time of such purchase; and

 

(iv)            any
such Loans acquired by an Affiliated Lender may, with the consent of the Borrower, be contributed to the Borrower and exchanged for debt
or equity securities that are otherwise permitted to be issued at such time (and such Loans or Commitments shall be retired and cancelled
promptly).

 

For avoidance of doubt, the foregoing limitations
shall not be applicable to Affiliated Institutional Lenders. None of the Borrower, any Subsidiary or any Affiliated Lender shall be required
to make any representation that it is not in possession of information which is not publicly available and/or material with respect to
the Borrower and its Subsidiaries or their respective securities for purposes of U.S. federal and state securities laws.

 

13.7          Replacements
of Lenders Under Certain Circumstances.

 

(a)            The
Borrower shall be permitted (x) to replace any Lender or (y) to terminate the Commitment of such Lender, Letter of Credit Issuer
or Swingline Lender, as the case may be, and (1) in the case of a Lender (other than the Letter of Credit Issuer and Swingline Lender),
repay all Obligations of the Borrower due and owing to such Lender relating to the Loans and participations held by such Lender as of
such termination date, (2) in the case of the Letter of Credit Issuer, repay all Obligations of the Borrower owing to such Letter
of Credit Issuer relating to the Loans and participations held by the Letter of Credit Issuer as of such termination date and cancel
or backstop on terms satisfactory to such Letter of Credit issuer any Letters of Credit issued by it, and (3) in the case of a Swingline
Lender, repay all Obligations of the Borrower owing to such Swingline Lender relating to the Loans and participations held by the Swingline
Lender as of such termination date and cancel or backstop on terms satisfactory to such Swingline Lender any Swingline Loans issued by
it that (a) requests reimbursement for amounts owing pursuant to Sections 2.10 or 5.4 or (b) is affected
in the manner described in Section 2.10(a)(iii) and as a result thereof any of the actions described in such Section is
required to be taken, or (c) becomes a Defaulting Lender, with a replacement bank or other financial institution; provided
that (i) such replacement does not conflict with any Requirement of Law, (ii) no Event of Default under Sections 11.1 or 11.5 shall have occurred and be continuing at the time of such replacement, (iii) the Borrower shall repay (or the
replacement bank or institution shall purchase, at par) all Loans and other amounts pursuant to Sections 2.10, 2.11,
3.5 or 5.4, as the case may be, owing to such replaced Lender prior to the date of replacement, (iv) the replacement
bank or institution, if not already a Lender, an Affiliate of a Lender, an Affiliated Lender or Approved Fund, and the terms and conditions
of such replacement, shall be reasonably satisfactory to the Administrative Agent, (v) the replacement bank or institution, if not
already a Lender shall be subject to the provisions of Section 13.6(b), (vi) the replaced Lender shall be obligated
to make such replacement in accordance with the provisions of Section 13.6 (provided that unless otherwise agreed
the Borrower shall be obligated to pay the registration and processing fee referred to therein), and (vii) any such replacement
shall not be deemed to be a waiver of any rights that the Borrower, the Administrative Agent or any other Lender shall have against the
replaced Lender.

 

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(b)            If
any Lender (such Lender, a “Non-Consenting Lender”) has failed to consent to a proposed amendment, waiver, discharge
or termination that pursuant to the terms of Section 13.1 requires the consent of either (i) all of the Lenders directly
and adversely affected or (ii) all of the Lenders, and, in each case, with respect to which the Required Lenders (or at least 50.1%
of the directly and adversely affected Lenders) shall have granted their consent, then, the Borrower shall have the right (unless such
Non-Consenting Lender grants such consent) to (x) replace such Non-Consenting Lender by requiring such Non-Consenting Lender to
assign its Loans, and its Commitments hereunder to one or more assignees reasonably acceptable to the Administrative Agent (to the extent
such consent would be required under Section 13.6) or terminate the Commitment of such Lender or Letter of Credit Issuer,
as the case may be, and (1) in the case of a Lender (other than the Letter of Credit Issuer), repay all Obligations of the Borrower
due and owing to such Lender relating to the Loans and participations held by such Lender as of such termination date, (2) in the
case of the Letter of Credit Issuer, repay all Obligations of the Borrower owing to such Letter of Credit Issuer relating to the Loans
and participations held by the Letter of Credit Issuer as of such termination date and cancel or backstop on terms satisfactory to such
Letter of Credit Issuer any Letters of Credit issued by it and (3) in the case of a Swingline Lender, repay all Obligations of the
Borrower owing to such Swingline Lender relating to the Loans and participations held by the Swingline Lender as of such termination
date and cancel or backstop on terms satisfactory to such Swingline Lender any Swingline Loans issued by it; provided that (a) all
Obligations hereunder of the Borrower owing to such Non-Consenting Lender being replaced shall be paid in full to such Non-Consenting
Lender concurrently with such assignment including any amounts that such Lender may be owed pursuant to Section 2.11, and
(b) the replacement Lender shall purchase the foregoing by paying to such Non-Consenting Lender a price equal to the principal amount
thereof plus accrued and unpaid interest thereon, and (c) the Borrower shall pay to such Non-Consenting Lender the amount, if any,
owing to such Lender pursuant to Section 5.1(b). In connection with any such assignment, the Borrower, the Administrative
Agent, such Non-Consenting Lender and the replacement Lender shall otherwise comply with Section 13.6.

 

13.8          Adjustments;
Set-off.

 

(a)          
   Except as contemplated in Section 13.6 or elsewhere herein (or in a First Lien Intercreditor
Agreement and/or a Second Lien Intercreditor Agreement), if any Lender (a “Benefited Lender”) shall at any time
receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether
voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 11.5,
or otherwise), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of
such other Lender’s Loans, or interest thereon, such Benefited Lender shall purchase for cash from the other Lenders a
participating interest in such portion of each such other Lender’s Loan, or shall provide such other Lenders with the benefits
of any such collateral, or the proceeds thereof, as shall be necessary to cause such Benefited Lender to share the excess payment or
benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any
portion of such excess payment or benefits is thereafter recovered from such Benefited Lender, such purchase shall be rescinded, and
the purchase price and benefits returned, to the extent of such recovery, but without interest.

 

(b)            After
the occurrence and during the continuance of an Event of Default, in addition to any rights and remedies of the Lenders provided by law,
each Lender shall have the right, without prior notice to the Credit Parties but with the prior consent of the Administrative Agent,
any such notice being expressly waived by the Credit Parties to the extent permitted by applicable law, upon any amount becoming due
and payable by the Credit Parties hereunder (whether at the stated maturity, by acceleration or otherwise) to set-off and appropriate
and apply against such amount any and all deposits (general or special, time or demand, provisional or final) (other than payroll, trust,
tax, fiduciary, and petty cash accounts), in any currency, and any other credits, indebtedness or claims, in any currency, in each case
whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by such Lender or any branch or agency
thereof to or for the credit or the account of the Credit Parties. Each Lender agrees promptly to notify the Credit Parties and the Administrative
Agent after any such set-off and application made by such Lender; provided that the failure to give such notice shall not affect
the validity of such set-off and application. For the avoidance of doubt, the provisions of this paragraph shall not be construed to
apply to (x) the application of funds arising from the existence of a Defaulting Lender, (y) the application of Cash Collateral
provided for in Section 3.8, or (z) any payment obtained by a Lender as consideration for the assignment of or sale
of a participation in any of its Loans or participations in L/C Obligations to any assignee or Participant, other than to any Affiliated
Lender (as to which the provisions of this paragraph shall apply).

 

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13.9          Counterparts.
This Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts (including by facsimile
or other electronic transmission), and all of said counterparts taken together shall be deemed to constitute one and the same instrument.
A set of the copies of this Agreement signed by all the parties shall be lodged with the Borrower and the Administrative Agent. Delivery
of an executed counterpart of a signature page of (x) this Agreement, (y) any other Credit Document and/or (z) any
document, amendment, approval, consent, information, notice (including, for the avoidance of doubt, any notice delivered pursuant to
Section 13.2), certificate, request, statement, disclosure or authorization related to this Agreement, any other Credit Document
and/or the transactions contemplated hereby and/or thereby (each an “Ancillary Document”) that is an Electronic Signature
transmitted by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page shall
be effective as delivery of a manually executed counterpart of this Agreement, such other Credit Document or such Ancillary Document,
as applicable. The words “execution,” “signed,” “signature,” “delivery,” and words of
like import in or relating to this Agreement, any other Credit Document and/or any Ancillary Document shall be deemed to include Electronic
Signatures, deliveries or the keeping of records in any electronic form (including deliveries by telecopy, emailed pdf. or any other
electronic means that reproduces an image of an actual executed signature page), each of which shall be of the same legal effect, validity
or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the
case may be; provided that nothing herein shall require the Administrative Agent to accept Electronic Signatures in any form or
format without its prior written consent and pursuant to procedures approved by it; provided, further, without limiting
the foregoing, (i) to the extent the Administrative Agent has agreed to accept any Electronic Signature, the Administrative Agent
and each of the Lenders shall be entitled to rely on such Electronic Signature purportedly given by or on behalf of the Borrower or any
other Credit Party without further verification thereof and without any obligation to review the appearance or form of any such Electronic
signature and (ii) upon the request of the Administrative Agent or any Lender, any Electronic Signature shall be promptly followed
by a manually executed counterpart.

 

13.10        Severability.
Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition
or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

13.11        Integration.
This Agreement and the other Credit Documents represent the agreement of Holdings, the Borrower, the Collateral Agent, the Administrative
Agent and the Lenders with respect to the subject matter hereof, and there are no promises, undertakings, representations or warranties
by Holdings, the Borrower, the Administrative Agent, the Collateral Agent nor any Lender relative to subject matter hereof not expressly
set forth or referred to herein or in the other Credit Documents.

 

13.12        GOVERNING
LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. EACH LETTER OF CREDIT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK.

 

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13.13        Submission
to Jurisdiction; Waivers. Each party hereto irrevocably and unconditionally:

 

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

 

(b)            consents
that any such action or proceeding shall be brought in such courts and waives (to the extent permitted by applicable law) any objection
that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was
brought in an inconvenient court and agrees not to plead or claim the same or to commence or support any such action or proceeding in
any other courts;

 

(c)            agrees
that service of process in any such action or proceeding shall be effected by mailing a copy thereof by registered or certified mail
(or any substantially similar form of mail), postage prepaid, to such Person at its address set forth on Schedule 13.2 at such
other address of which the Administrative Agent shall have been notified pursuant to Section 13.2;

 

(d)            agrees
that nothing herein shall affect the right of the Administrative Agent, any Lender or another Secured Party to effect service of process
in any other manner permitted by law or to commence legal proceedings or otherwise proceed against Holdings or the Borrower or any other
Credit Party in any other jurisdiction; and

 

(e)            waives,
to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or proceeding referred to
in this Section 13.13 any special, exemplary, punitive or consequential damages; provided that nothing in this clause
(e) shall limit the Credit Parties’ indemnification obligations set forth in Section 13.5.

 

13.14         Acknowledgments.
Each of Holdings and the Borrower hereby acknowledges that:

 

(a)            
it has been advised by counsel in the negotiation, execution, and delivery of this Agreement and the other Credit Documents;

 

(i) the credit facilities
provided for hereunder and any related arranging or other services in connection therewith (including in connection with any amendment,
waiver or other modification hereof or of any other Credit Document) are an arm’s-length commercial transaction between the Borrower
and the other Credit Parties, on the one hand, and the Administrative Agent, the Lenders and the other Agents on the other hand, and
the Borrower and the other Credit Parties are capable of evaluating and understanding and understand and accept the terms, risks and
conditions of the transactions contemplated hereby and by the other Credit Documents (including any amendment, waiver or other modification
hereof or thereof);

 

(ii) in connection with
the process leading to such transaction, each of the Administrative Agent and the other Agents, is and has been acting solely as a principal
and is not the financial advisor, agent or fiduciary for the Borrower, any other Credit Parties or any of their respective Affiliates,
equity holders, creditors or employees, or any other Person;

 

(iii) neither the Administrative
Agent nor any other Agent has assumed or will assume an advisory, agency or fiduciary responsibility in favor of the Borrower or any
other Credit Party with respect to any of the transactions contemplated hereby or the process leading thereto, including with respect
to any amendment, waiver or other modification hereof or of any other Credit Document (irrespective of whether the Administrative Agent
or other Agent has advised or is currently advising the Borrower, the other Credit Parties or their respective Affiliates on other matters)
and neither the Administrative Agent or other Agent has any obligation to the Borrower, the other Credit Parties or their respective
Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other
Credit Documents;

 

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(iv) the Administrative
Agent, each other Agent and each Affiliate of the foregoing may be engaged in a broad range of transactions that involve interests that
differ from those of the Borrower and their Affiliates, and neither the Administrative Agent nor any other Agent has any obligation to
disclose any of such interests by virtue of any advisory, agency or fiduciary relationship; and

 

(v) neither the Administrative
Agent nor any other Agent has provided and none will provide any legal, accounting, regulatory or tax advice with respect to any of the
transactions contemplated hereby (including any amendment, waiver or other modification hereof or of any other Credit Document) and the
Borrower have consulted their own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate. Each of Holdings
and the Borrower hereby agrees that it will not claim that any Agent owes a fiduciary or similar duty to the Credit Parties in connection
with the Transactions contemplated hereby and waives and releases, to the fullest extent permitted by law, any claims that it may have
against the Administrative Agent or any other Agent with respect to any breach or alleged breach of agency or fiduciary duty; and

 

(b)            no
joint venture is created hereby or by the other Credit Documents or otherwise exists by virtue of the transactions contemplated hereby
among the Lenders or among the Borrower, on the one hand, and any Lender, on the other hand.

 

13.15        WAIVERS
OF JURY TRIAL. EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY WAIVES (TO THE EXTENT PERMITTED BY APPLICABLE LAW) TRIAL BY JURY
IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN.

 

13.16        Confidentiality.
The Administrative Agent, each other Agent and each Lender (collectively, the “Restricted Persons” and, each a “Restricted
Person”) shall treat confidentially all non-public information provided to any Restricted Person by or on behalf of any Credit
Party hereunder in connection with such Restricted Person’s evaluation of whether to become a Lender hereunder or obtained by such
Restricted Person pursuant to the requirements of this Agreement (“Confidential Information”) and shall not publish,
disclose or otherwise divulge such Confidential Information; provided that nothing herein shall prevent any Restricted Person
from disclosing any such Confidential Information (a) pursuant to the order of any court or administrative agency or in any pending
legal, judicial or administrative proceeding, or otherwise as required by applicable law, rule or regulation or compulsory legal
process (in which case such Restricted Person agrees (except with respect to any routine or ordinary course audit or examination conducted
by bank accountants or any governmental or bank regulatory authority exercising examination or regulatory authority), to the extent practicable
and not prohibited by applicable law, rule or regulation, to inform the Borrower promptly thereof prior to disclosure), (b) upon
the request or demand of any regulatory authority having jurisdiction over such Restricted Person or any of its Affiliates (in which
case such Restricted Person agrees (except with respect to any routine or ordinary course audit or examination conducted by bank accountants
or any governmental or bank regulatory authority exercising examination or regulatory authority) to the extent practicable and not prohibited
by applicable law, rule or regulation, to inform the Borrower promptly thereof prior to disclosure), (c) to the extent that
such Confidential Information becomes publicly available other than by reason of improper disclosure by such Restricted Person or any
of its affiliates or any related parties thereto in violation of any confidentiality obligations owing under this Section 13.16,
(d) to the extent that such Confidential Information is received by such Restricted Person from a third party that is not, to such
Restricted Person’s knowledge, subject to confidentiality obligations owing to any Credit Party or any of their respective subsidiaries
or affiliates, (e) to the extent that such Confidential Information was already in the possession of the Restricted Persons prior
to any duty or other undertaking of confidentiality or is independently developed by the Restricted Persons without the use of such Confidential
Information, (f) to such Restricted Person’s affiliates and to its and their respective officers, directors, partners, employees,
legal counsel, independent auditors, and other experts or agents who need to know such Confidential Information in connection with providing
the Loans or action as an Agent hereunder and who are informed of the confidential nature of such Confidential Information and who are
subject to customary confidentiality obligations of professional practice or who agree to be bound by the terms of this Section 13.16 (or confidentiality provisions at least as restrictive as those set forth in this Section 13.16) (with each such Restricted
Person, to the extent within its control, responsible for such person’s compliance with this paragraph), (g) to potential
or prospective Lenders, hedge providers (or other derivative transaction counterparties) (any such person, a “Derivative Counterparty”),
participants or assignees, in each case who agree (pursuant to customary syndication practice) to be bound by the terms of this Section 13.16 (or confidentiality provisions at least as restrictive as those set forth in this Section 13.16); provided that
(i) the disclosure of any such Confidential Information to any Lenders, Derivative Counterparty or prospective Lenders, Derivative
Counterparty or participants or prospective participants referred to above shall be made subject to the acknowledgment and acceptance
by such Lender, Derivative Counterparty or prospective Lender or participant or prospective participant that such Confidential Information
is being disseminated on a confidential basis (on substantially the terms set forth in this Section 13.16 or confidentiality
provisions at least as restrictive as those set forth in this Section 13.16) in accordance with the standard syndication
processes of such Restricted Person or customary market standards for dissemination of such type of information, which shall in any event
require “click through” or other affirmative actions on the part of the Recipient to access such Confidential Information
and (ii) no such disclosure shall be made by such Restricted Person to any person that is at such time a Disqualified Lender (provided,
however, that disclosures may be made to Disqualified Lenders unless a list of Disqualified Lenders has been made available to
all Lenders who so request), (h) for purposes of establishing a “due diligence” defense, or (i) to rating agencies
in connection with obtaining ratings for the Borrower and the Facilities to the extent such rating agencies are subject to customary
confidentiality obligations of professional practice or agree to be bound by the terms of this Section 13.16 (or confidentiality
provisions at least as restrictive as those set forth in this Section 13.16). Notwithstanding the foregoing, (i) Confidential
Information shall not include, with respect to any Person, information available to it or its Affiliates on a non-confidential basis
from a source other than Holdings, its Subsidiaries or their respective Affiliates, (ii) the Administrative Agent shall not be responsible
for compliance with this Section 13.16 by any other Restricted Person (other than its officers, directors or employees),
(iii) in no event shall any Lender, the Administrative Agent or any other Agent be obligated or required to return any materials
furnished by Holdings or any of its Subsidiaries, and (iv) each Agent and each Lender may disclose the existence of this Agreement
and the information about this Agreement to market data collectors, similar services providers to the lending industry, and service providers
to the Agents and the Lenders in connection with the administration, settlement and management of this Agreement and the other Credit
Documents.

 

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13.17        Direct
Website Communications. Each of Holdings and the Borrower may, at its option, provide to the Administrative Agent any information,
documents and other materials that it is obligated to furnish to the Administrative Agent pursuant to the Credit Documents, including,
without limitation, all notices, requests, financial statements, financial, and other reports, certificates, and other information materials,
but excluding any such communication that (A) relates to a request for a new, or a conversion of an existing, borrowing or other
extension of credit (including any election of an interest rate or interest period relating thereto, (B) relates to the payment
of any principal or other amount due under this Agreement prior to the scheduled date therefor, (C) provides notice of any default
or event of default under this Agreement or (D) is required to be delivered to satisfy any condition precedent to the effectiveness
of this Agreement and/or any borrowing or other extension of credit thereunder (all such non-excluded communications being referred to
herein collectively as “Communications”), by transmitting the Communications in an electronic/soft medium in a format
reasonably acceptable to the Administrative Agent to the Administrative Agent at an email address provided by the Administrative Agent
from time to time; provided that (i) upon written request by the Administrative Agent, Holdings or the Borrower shall deliver
paper copies of such documents to the Administrative Agent for further distribution to each Lender until a written request to cease delivering
paper copies is given by the Administrative Agent and (ii) Holdings or the Borrower shall notify (which may be by facsimile or electronic
mail) the Administrative Agent of the posting of any such documents and provide to the Administrative Agent by electronic mail electronic
versions (i.e., soft copies) of such documents. Each Lender shall be solely responsible for timely accessing posted documents or requesting
delivery of paper copies of such documents from the Administrative Agent and maintaining its copies of such documents. Nothing in this
Section 13.17 shall prejudice the right of Holdings, the Borrower, the Administrative Agent, any other Agent or any Lender
to give any notice or other communication pursuant to any Credit Document in any other manner specified in such Credit Document.

 

The Administrative Agent
agrees that the receipt of the Communications by the Administrative Agent at its e-mail address set forth above shall constitute effective
delivery of the Communications to the Administrative Agent for purposes of the Credit Documents. Each Lender agrees that notice to it
(as provided in the next sentence) specifying that the Communications have been posted to the Platform shall constitute effective delivery
of the Communications to such Lender for purposes of the Credit Documents. Each Lender agrees (A) to notify the Administrative Agent
in writing (including by electronic communication) from time to time of such Lender’s e-mail address to which the foregoing notice
may be sent by electronic transmission and (B) that the foregoing notice may be sent to such e-mail address.

 

(a)         
    Each of Holdings and the Borrower further agrees that any Agent may make the Communications available to the
Lenders by posting the Communications on Intralinks or a substantially similar electronic transmission system (the
 “Platform”), so long as the access to such Platform (i) is limited to the Agents, the Lenders and
Transferees or prospective Transferees and (ii) remains subject to the confidentiality requirements set forth in Section 13.16.

 

(b)            THE
PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT PARTIES DO NOT WARRANT THE ACCURACY OR COMPLETENESS
OF ANY MATERIALS OR INFORMATION PROVIDED BY THE CREDIT PARTIES (THE “BORROWER MATERIALS”) OR THE ADEQUACY OF THE PLATFORM,
AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED
OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS
OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM.
In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties” and each
an “Agent Party”) have any liability to the Borrower, any Lender, or any other Person for losses, claims, damages,
liabilities, or expenses of any kind (whether in tort, contract or otherwise) arising out of the Borrower’s or the Administrative
Agent’s transmission of Borrower Materials through the internet, except to the extent the liability of any Agent Party resulted
from such Agent Party’s (or any of its Related Parties’ (other than any trustee or advisor)) gross negligence, bad faith
or willful misconduct or material breach of the Credit Documents as determined in the final non-appealable judgment of a court of competent
jurisdiction.

 

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(c)           
  Each of Holdings and the Borrower and each Lender acknowledge that certain of the Lenders may be “public-side”
Lenders (Lenders that do not wish to receive material non-public information with respect to Holdings, the Borrower, the
Subsidiaries or their securities) and, if documents or notices required to be delivered pursuant to the Credit Documents or
otherwise are being distributed through the Platform, any document or notice that Holdings or the Borrower has indicated contains
only publicly available information with respect to Holdings or the Borrower may be posted on that portion of the Platform
designated for such public-side Lenders. If Holdings or the Borrower has not indicated whether a document or notice delivered
contains only publicly available information, the Administrative Agent shall post such document or notice solely on that portion of
the Platform designated for Lenders who wish to receive material nonpublic information with respect to Holdings, the Borrower, the
Subsidiaries and their securities. Notwithstanding the foregoing, each of Holdings and the Borrower shall use commercially
reasonable efforts to indicate whether any document or notice contains only publicly available information; provided however that,
the following documents shall be deemed to be marked “PUBLIC,” unless the Borrower notifies the Administrative Agent
promptly that any such document contains material nonpublic information: (1) the Credit Documents, (2) any notification of
changes in the terms of the Credit Facility and (3) all financial statements and certificates delivered pursuant to Sections
9.1(a),(b) and (d).

 

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

 

13.19        [Reserved].

 

13.20        Payments
Set Aside. To the extent that any payment by or on behalf of Holdings or the Borrower is made to any Agent or any Lender, or any
Agent or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently
invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by such
Agent or such Lender in its discretion) to be repaid to a trustee, receiver, or any other party, in connection with any proceeding or
otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be
revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred, and (b) each
Lender severally agrees to pay to the Administrative Agent upon demand its applicable share of any amount so recovered from or repaid
by any Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the applicable
Overnight Bank Funding Rate from time to time in effect.

 

13.21        No
Fiduciary Duty. Each Agent, each Lender and their Affiliates (collectively, solely for purposes of this paragraph, the “Lenders”),
may have economic interests that conflict with those of the Credit Parties, their equity holders and/or their affiliates. Each Credit
Party agrees that nothing in the Credit Documents or otherwise will be deemed to create an advisory, fiduciary or agency relationship
or fiduciary or other implied duty between any Lender, on the one hand, and such Credit Party, its equity holders or its affiliates,
on the other. The Credit Parties acknowledge and agree that (i) the transactions contemplated by the Credit Documents (including
the exercise of rights and remedies hereunder and thereunder) are arm’s-length commercial transactions between the Lenders, on
the one hand, and the Credit Parties, on the other, and (ii) in connection therewith and with the process leading thereto, (x) no
Lender has assumed an advisory or fiduciary responsibility in favor of any Credit Party, its equity holders or its affiliates with respect
to the transactions contemplated hereby (or the exercise of rights or remedies with respect thereto) or the process leading thereto (irrespective
of whether any Lender has advised, is currently advising or will advise any Credit Party, its equity holders or its Affiliates on other
matters) or any other obligation to any Credit Party except the obligations expressly set forth in the Credit Documents and (y) each
Lender is acting solely as principal and not as the agent or fiduciary of any Credit Party, its management, equity holders or creditors.
Each Credit Party acknowledges and agrees that it has consulted its own legal and financial advisors to the extent it deemed appropriate
and that it is responsible for making its own independent judgment with respect to such transactions and the process leading thereto.
Each Credit Party agrees that it will not claim that any Lender has rendered advisory services of any nature or respect, or owes a fiduciary
or similar duty to such Credit Party, in connection with such transaction or the process leading thereto.

 

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13.22        Acknowledgement
and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary in any Credit Document or in any other
agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Affected Financial
Institution arising under any Credit Document may be subject to the Write-Down and Conversion Powers of the applicable Resolution Authority
and agrees and consents to, and acknowledges and agrees to be bound by:

 

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

 

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

 

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

 

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

 

(iii)           the
variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of any applicable Resolution
Authority.

 

13.23        Certain
ERISA Matters. (a) Each Lender (x) represents and warrants, as of the date such Person
became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person
ceases being a Lender party hereto, for the benefit of, the Administrative Agent and the Joint Lead Arrangers and Bookrunners and their
respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Credit Party, that at
least one of the following is and will be true:

 

(i)             such
Lender is not using “plan assets” (within the meaning of Section 3(42) of ERISA or otherwise) of one or more
Benefit Plans with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans,
the Letters of Credit, the Commitments or this Agreement,

 

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

 

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(iii)            (A) such
Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part VI of PTE
84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate
in, administer and perform the Loans, the Letters of Credit, the Commitments and this Agreement, (C) the entrance into, participation
in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement satisfies the requirements
of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements
of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in,
administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement, or

 

(iv)           such
other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion, and
such Lender.

 

(b)           In
addition, unless either (1) sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or
(2) a Lender has provided another representation, warranty and covenant in accordance with sub-clause (iv) in the immediately
preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto,
to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party
hereto, for the benefit of, the Administrative Agent and the Joint Lead Arrangers and Bookrunners and their respective Affiliates and
not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Credit Party, that none of the Administrative Agent
or the Joint Lead Arrangers or Bookrunners or any of their respective Affiliates are a fiduciary with respect to the assets of such Lender
involved in such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit,
the Commitments and this Agreement (including in connection with the reservation or exercise of any rights by the Administrative Agent
under this Agreement, any Credit Document or any documents related hereto or thereto).

 

For purposes of this
section, the following definitions apply to each of the capitalized terms below:

 

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

 

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

 

13.24       Acknowledgement
Regarding Any Supported QFCs. To the extent that the Credit Documents provide support, through a guarantee or otherwise, for Hedge
Agreements or any other agreement or instrument that is a QFC (such support “QFC Credit Support” and each such QFC
a “Supported QFC”), the parties acknowledge and agree as follows with respect to the resolution power of the Federal
Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer
Protection Act (together with the regulations promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect
of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Credit Documents and any
Supported QFC may in fact be stated to be governed by the laws of the State of New York and/or of the United States or any other state
of the United States):

 

In the event a Covered Entity
that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution
Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such
Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such
Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the
Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the
United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject
to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Credit Documents that might otherwise apply to such Supported
QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than
such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Credit Documents were governed
by the laws of the United States or a state of the United States. Without limitation of the foregoing, it is understood and agreed that
rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect
to a Supported QFC or any QFC Credit Support.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

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ANNEX B

 

Schedule 1.01(b)

 

Revolving Credit Commitment

 

	Revolving Credit Lender	 	Revolving Credit Commitment	 
	JPMorgan Chase Bank, N.A.	 	$	60,000,000	 
	MUFG  Bank, Ltd.	 	$	57,500,000	 
	PNC Bank, National Association	 	$	57,500,000	 
	Goldman Sachs Bank USA	 	$	30,000,000	 
	Mizuho Bank, Ltd.	 	$	30,000,000	 
	Citizens Bank, N.A.	 	$	30,000,000	 
	Wells Fargo Bank, N.A.	 	$	12,500,000	 
	ING Capital LLC	 	$	12,500,000	 
	Sumitomo Mitsui Banking Corporation	 	$	10,000,000	 
	Total:	 	$	300,000,000	 

 

Letter of Credit Commitment

 

	Letter of Credit Issuer	 	Letter of Credit Commitment	 
	JPMorgan Chase Bank, N.A.	 	$	30,000,000	 
	MUFG Bank, Ltd.	 	$	28,750,000	 
	PNC Bank, National Association	 	$	28,750,000	 
	Goldman Sachs Bank USA	 	$	15,000,000	 
	Mizuho Bank, Ltd.	 	$	15,000,000	 
	Citizens Bank, N.A.	 	$	15,000,000	 
	Wells Fargo Bank, N.A.	 	$	6,250,000	 
	ING Capital LLC	 	$	6,250,000	 
	Sumitomo Mitsui Banking Corporation	 	$	5,000,000	 
	Total:	 	$	150,000,000	 

 

     

     

    

 

ANNEX C

 

Existing Letters of Credit

 

	Letter of Credit Number	 	Letter of Credit Issuer	 	Letter of Credit Amount	 
	NUSCGS030147	 	JPMorgan Chase Bank, N.A.	 	$	49,142,673

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