Document:

Exhibit 10.1

 

Execution Version

 

LEASE

 

BY AND BETWEEN

 

BROOKWOOD PHILADELPHIA I, LLC, a Delaware
limited liability company, and

BROOKWOOD PHILADELPHIA II, LLC, a Delaware limited liability
company, 

as tenants in common

 

(“Landlord”)

 

and

 

JETPAY HR & PAYROLL SERVICES, INC.,

(“Tenant”)

 

     

     

    

  

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	1.	TERMS	1
	 	 	 
	2.	THE PREMISES	3
	 	 	 
	3.	TERM	4
	 	 	 
	4.	CONDITION OF THE PREMISES	4
	 	 	 
	5.	MONTHLY RENT	4
	 	 	 
	6.	TAXES	5
	 	 	 
	7.	OPERATING EXPENSES.	5
	 	 	 
	8.	RECONCILIATION	6
	 	 	 
	9.	INSURANCE.	7
	 	 	 
	10.	WAIVER OF SUBROGATION	9
	 	 	 
	11.	SECURITY DEPOSIT	9
	 	 	 
	12.	USE	10
	 	 	 
	13.	MAINTENANCE; SERVICES.	10
	 	 	 
	14.	SUBLEASE; ASSIGNMENT	11
	 	 	 
	15.	INDEMNITY; NON-LIABILITY OF LANDLORD	12
	 	 	 
	16.	UTILITIES	13
	 	 	 
	17.	HOLDING OVER	14
	 	 	 
	18.	NO RENT DEDUCTION OR SET OFF	14
	 	 	 
	19.	CASUALTY	14
	 	 	 
	20.	SUBORDINATION; ESTOPPEL LETTERS	15
	 	 	 
	21.	ALTERATIONS; RESTORATION.	17
	 	 	 
	22.	DEFAULT; REMEDIES.	18
	 	 	 
	23.	NOTICES	22
	 	 	 
	24.	EMINENT DOMAIN	22
	 	 	 
	25.	QUIET ENJOYMENT	22
	 	 	 
	26.	RULES AND REGULATIONS	23
	 	 	 
	27.	ENVIRONMENTAL.	23
	 	 	 
	28.	FINANCIAL STATEMENTS	24
	 	 	 
	29.	BROKERS	24
	 	 	 
	30.	MISCELLANEOUS.	24

 

    - i -

     

    

 

	31.	PARKING	26
	 	 	 
	32.	SIGNAGE	26
	 	 	 
	33.	INTENTIONALLY OMITTED	26
	 	 	 
	34.	CERTAIN RIGHTS RESERVED TO LANDLORD	27
	 	 	 
	35.	LEASE COMMENCEMENT/ACCEPTANCE OF PREMISES	27
	 	 	 
	36.	WAIVER OF RIGHT TO JURY TRIAL	27
	 	 	 
	37.	RECORDING	27

 

    - ii -

     

    

  

1.          TERMS.
Each reference in this Lease to any of the following subjects shall be construed to incorporate the data stated for that subject
in this Section 1.

 

	Date of this Lease:	 	October __, 2017
	 	 	 
	Name of Tenant:	 	
        JetPay HR & Payroll Services, Inc.,

        a Delaware corporation

	 	 	 
	Notice Address of Tenant:	 	The Premises
	 	 	 
	Name of Landlord:	 	
        Brookwood Philadelphia I, LLC, and

        Brookwood Philadelphia II, LLC,

        as tenants in common

	 	 	 
	
        Notice Address of Landlord:

         

         
	 	
        Brookwood Philadelphia I, LLC, and

        Brookwood Philadelphia II, LLC

        c/o Brookwood Financial Partners, LLC

        138 Conant Street

        Beverly, Massachusetts 01915

        Attention: Kurt Zernich, Director of Asset Management

	 	 	 
	Landlord’s Remittance Address:	 	
        Brookwood Philadelphia II, LLC

        PO Box 780219

        Philadelphia, PA 19178-0219

         

        via overnight delivery to:

         

        Brookwood Philadelphia II LLC

        Lockbox 780219

        Wells Fargo Bank, MAC Y1372-045

        401 Market Street

        Philadelphia, PA 19106

	 	 	 
	Building:	 	The building located at 7450 Tilghman Street, Allentown, Pennsylvania
	 	 	 
	Property:	 	The Building and the real property on which the Building is located and any other buildings and improvements located thereon.  
	 	 	 
	Premises:	 	Approximately 24,269 rentable square feet of space in the Building commonly known as Suite 170, as approximately shown by the floor plan attached hereto as Exhibit A.

 

    	 	1	 

     

    

 

	Permitted Use:	 	General office, and operation of a business providing payroll related services to customers, and no other use or purpose.
	 	 	 
	Term:	 	The period of time beginning on the Commencement Date and ending at 11:59 P.M. on the Expiration Date.
	 	 	 
	Commencement Date:	 	The later to occur of (i) February 26, 2018 and (ii) Substantial Completion of the Work (as said terms are defined in the Work Letter, Exhibit E).  Landlord and Tenant shall confirm the Commencement Date pursuant to Section 35.
	 	 	 
	Expiration Date:	 	That certain date which is the last day of the one hundred twenty eighth (128th) complete calendar month following the Commencement Date.
	 	 	 
	Tenant’s Percentage:	 	23.91%, being the ratio of rentable square footage of the Premises to the total rentable square footage of the Building.  Landlord represents to Tenant that the total rentable square footage of the Building is approximately 101,520. 
	 	 	 
	Base Taxes:	 	The Taxes for the calendar year 2018, without reduction for any atypical one-time abatement.
	 	 	 
	Tax Excess:	 	Tenant’s Percentage of the amount by which Taxes for any calendar year during the Term exceed Base Taxes.
	 	 	 
	Base Operating Expenses:	 	The Operating Expenses for the calendar year 2018.
	 	 	 
	Operating Expenses Excess:	 	Tenant’s Percentage of the amount by which Operating Expenses exceed Base Operating Expenses for any calendar year during the Term. 
	 	 	 
	Security Deposit:	 	$40,448.33 
	 	 	 
	Exhibits:	 	
        Exhibit A         The Premises

        Exhibit B          Rules and Regulations

        Exhibit C          Commencement Letter

        Exhibit D         Additional Stipulations

        Exhibit E          Work
Letter 

        Exhibit F          Parking Plans and
        Location of Generator

         

        All of the Exhibits listed above are incorporated into and made
        part of this Lease.

 

    	 	2	 

     

    

  

	Rent:	 	Base Rent and all Additional Rent.
	 	 	 
	Additional Rent:	 	All amounts required to be paid by Tenant to Landlord pursuant to this Lease other than Base Rent, including, without limitation, Operating Expenses and Taxes.
	 	 	 
	Base Rent:	 	 

 

	Months of Term	 	Base Rent
    
 (per annum)	 	 	Base Rent
    
 (per month)	 	 	Base Rent
    
 (per rentable square 
 foot, per annum)	 
	Commencement Date-12	 	$	485,380.00	 	 	$	40,448.33	 	 	$	20.00	 
	13-24	 	$	497,514.50	 	 	$	41,459.54	 	 	$	20.50	 
	25-36	 	$	509,952.36	 	 	$	42,496.03	 	 	$	21.01	 
	37-48	 	$	522,701.17	 	 	$	43,558.43	 	 	$	21.54	 
	49-60	 	$	535,768.70	 	 	$	44,647.39	 	 	$	22.08	 
	61-72	 	$	549,162.92	 	 	$	45,763.58	 	 	$	22.63	 
	73-84	 	$	562,891.99	 	 	$	46,907.67	 	 	$	23.19	 
	85-96	 	$	576,964.29	 	 	$	48,080.36	 	 	$	23.77	 
	97-108	 	$	591,388.40	 	 	$	49,282.37	 	 	$	24.37	 
	109-120	 	$	606,173.11	 	 	$	50,514.43	 	 	$	24.98	 
	121-128 (plus any additional days necessary for the Term to expire on the 
 Expiration Date)	 	$	621,327.44	 	 	$	51,777.29	 	 	$	25.60	 

 

*Plus the Utility Charge pursuant to
Section 16 below.

 

Notwithstanding the foregoing, Base Rent shall
be abated for the first (1st) through the fourth (4th) months of the Term and the thirteenth (13th)
through the fifteenth (15th) months of the Term (collectively, the “Base Rent Abatement Period”). In no
event shall the Base Rent Abatement Period be deemed to reduce or eliminate Tenant’s obligation to pay Additional Rent or
any other amounts due hereunder other than Base Rent. If Tenant defaults under this Lease beyond any applicable notice and cure
period, then Tenant’s right to abate the Base Rent shall immediately terminate and be of no further force and effect and
any and all Base Rent which had been abated prior to Tenant’s default shall immediately become due and payable.

 

2.          THE
PREMISES. Landlord leases to Tenant, and Tenant leases from Landlord, upon and subject to the terms and conditions of this
Lease, the Premises. The Premises are leased with the right of Tenant to use for its customers, employees and visitors, in common
with other parties entitled thereto, such common areas and facilities as Landlord may from time to time designate and provide.

 

    	 	3	 

     

    

 

3.          TERM.
The Premises are leased for the Term. If for any reason Landlord is unable to deliver possession of the Premises to Tenant on or
prior to the Commencement Date, then Landlord shall not be liable to Tenant for any resultant loss or damage and this Lease shall
not be affected except that the Commencement Date shall be extended by one (1) day for each day of such delay.

 

4.          CONDITION
OF THE PREMISES. The Premises are leased in an “as is” and “where is” condition without any warranty
of fitness for use or occupation express or implied, it being agreed that Tenant has had an opportunity to examine the condition
of the Premises, that Landlord has made no representations or warranties of any kind with respect to such condition, and that Landlord
has no obligation to do or approve any work or make or approve any improvements to or with respect to the Premises to prepare the
same for Tenant’s occupancy, except in all respects for the Landlord’s Work described in the Work Letter attached as
Exhibit E.

 

5.          MONTHLY
RENT. Commencing on the Commencement Date, Base Rent shall be paid monthly in advance on or before the first day of each calendar
month in accordance with the schedule set forth in Section 1. The Base Rent shall not be adjusted or modified if the actual rentable
square footage of the Premises varies from the rentable square footage set forth in Section 1. If the Commencement Date shall be
on any day other than the first day of a calendar month, Base Rent for any partial month shall be prorated based on the number
of days in that month. Unless otherwise provided herein, commencing on the Commencement Date, Additional Rent shall be paid monthly
in advance on or before the first day of each calendar month. If the Commencement Date shall be on any day other than the first
day of a calendar month, Additional Rent for any partial month shall be prorated based on the number of days in that month. Rent
shall be paid to Landlord, without notice or demand, and without deduction or offset, in lawful money of the United States of America,
at Landlord’s Remittance Address as set forth in Section 1 or to such other address as Landlord may from time to time designate
in writing. Tenant acknowledges that the late payment of Rent or other sums due hereunder shall cause Landlord to incur costs not
contemplated by this Lease, the exact amount of which shall be extremely difficult to ascertain. Such costs include, but are not
limited to, processing and accounting charges, and late charges which may be imposed on Landlord by the terms of any mortgage or
trust deed covering the Property. Accordingly, if any installment of Rent or any other sums due from Tenant shall not be received
by Landlord within five (5) business days of when due, Tenant shall pay to Landlord a late charge equal to five percent (5%) of
such overdue amount. In addition, any amount due to Landlord, if not paid when due, shall bear interest from the date due until
paid at the lesser of: (i) the Prime Rate (as hereinafter defined) plus five percent (5%) per annum, or (ii) the highest rate permitted
by law (the “Default Rate”). The term “Prime Rate” shall mean the Prime Rate as published in The Wall
Street Journal from time to time. The parties agree that such late charges represent a fair and reasonable estimate of the
costs Landlord shall incur by reason of late payment by Tenant. The acceptance of such late charges by Landlord shall in no event
constitute a waiver of Tenant’s default with respect to the overdue amount or prevent Landlord from exercising any of the
other rights and remedies granted hereunder. Notwithstanding anything to the contrary in this Lease, Tenant shall pay the first
full monthly installment of Rent due hereunder (i.e. Rent for the first complete month of the Term, or, if applicable, for the
first complete month following any initial abatement period) simultaneously with Tenant’s execution and delivery of this
Lease.

 

    	 	4	 

     

    

 

6.          TAXES.
Tenant shall pay monthly commencing in January 1, 2019, as Additional Rent, one-twelfth (1/12) of the Tax Excess based on estimates
provided by Landlord from time to time and subject to reconciliation as provided in Section 8 below. No credit or payment shall
be due to Tenant in the event Taxes for any year are less than Base Taxes. “Taxes” means all taxes, assessments and
fees levied upon the Property by any governmental entity based upon the ownership, leasing, renting or operation of the Property.
Landlord may allocate Taxes incurred with respect to multiple buildings on the Property among such buildings, in a reasonable,
fair and consistent manner. Taxes shall not include any federal, state or local net income, capital stock, succession, transfer,
replacement, gift, estate or inheritance taxes; provided, however, if at any time during the Term, a tax or excise on income is
levied or assessed by any governmental entity in lieu of or as a substitute for, in whole or in part, real estate taxes or other
ad valorem taxes, such tax shall constitute and be included in Taxes to the extent, and only to the extent, that it is a substitute
for real estate taxes or other ad valorem taxes. In addition to the foregoing, Tenant shall pay Landlord, as Additional Rent, for
any use, rent or sales tax, service tax, value added tax, franchise tax or any other tax on Rent however designated as well as
for any taxes which are reasonably attributable to the cost or value of Tenant’s equipment, furniture, fixtures and other
personal property located in the Premises or the cost or value of any leasehold improvements made in or to the Premises by or for
Tenant. All expenses, including attorneys’ fees and disbursements, experts’ and other witnesses’ fees, incurred
in contesting the validity or amount of any Taxes or in obtaining a refund of Taxes shall be considered as part of the Taxes for
the year in which the expenses are incurred.

 

7.          OPERATING
EXPENSES. Tenant shall pay monthly, as Additional Rent, one-twelfth (1/12) of the Operating Expenses Excess based on estimates
provided by Landlord from time to time and subject to reconciliation as provided in Section 8 below. No credit or payment shall
be due to Tenant in the event Operating Expenses for any year are less than Base Operating Expenses. “Operating Expenses”
means and includes all legitimate bona fide expenses, costs, fees and disbursements paid or incurred by or on behalf of Landlord
for managing, operating, maintaining, improving, servicing or repairing the Building or Property and all associated plumbing, heating,
ventilation, air conditioning, lighting, electrical, mechanical and other systems, including, without limitation, costs of: performing
the Landlord’s obligations described in Section 13; janitorial services, the repair, maintenance, repaving and re-striping
of any parking and dock areas; providing any services or amenities such as conference rooms, parking garage, or cafeteria, as applicable;
exterior maintenance, repair and repainting; landscaping; snow removal; utilities (unless otherwise provided in Section 16); a
management fee and administration costs of five percent (5%) of gross revenue (Base Rent and Additional Rent from the Building);
supplies and sundries; sales or use taxes on supplies or services; charges or assessments under any easement, license, declaration,
restrictive covenant or association; legal and accounting expenses; insurance premiums for casualty insurance and liability insurance
carried on the Building by Landlord; and compensation and all fringe benefits, worker’s compensation insurance premiums and
payroll taxes paid to, for or with respect to all persons directly engaged in the operation, administration maintenance and repair
of the Property, excluding any salaries and compensation to persons that own any equity in the Landlord, or such persons’
relatives. Landlord may allocate any item of Operating Expenses that benefits multiple buildings on the Property among such buildings,
, in a reasonable, fair and consistent manner.. Landlord may allocate any item of Operating Expenses among different portions or
occupants of the Building or Property based on use or other considerations as determined by Landlord in Landlord’s discretion,
, in a reasonable, fair and consistent manner.. If there is less than ninety five percent (95%) occupancy during any period, Landlord
will adjust those Operating Expenses that are affected by variations in occupancy levels to the amount of Operating Expenses that
would have been incurred had there been ninety five percent (95%) occupancy.

 

    	 	5	 

     

    

 

Notwithstanding the foregoing, Operating Expenses
shall not include costs of alterations to the premises of other tenants of the Property, depreciation charges, interest and principal
payments on mortgages, ground rental payments and real estate brokerage and leasing commissions; costs incurred for Landlord’s
general overhead and any other expenses not directly attributable to the operation and management of the Building or the Property;
costs of selling or financing any of Landlord’s interest in the Property; costs incurred by Landlord for the repair of damage
to the Property to the extent that Landlord is reimbursed by insurance proceeds; and the costs of services and utilities separately
chargeable to individual tenants of the Building. The costs of capital improvements shall not be included in Operating Expenses
except for those capital improvements which are intended to reduce Operating Expenses, which are for replacements (as opposed to
additions or new improvements) on non-structural items located in the common areas required to keep such areas in good condition,
or which are required under any governmental laws, regulations, or ordinances that were not applicable to the Building as of the
Date of this Lease, which, together with any financing charges incurred in connection therewith, shall be amortized over their
useful life in accordance with generally accepted accounting principles.

 

Notwithstanding the foregoing, the maximum
increase in the amount of Controllable Operating Expenses (defined hereinbelow) that may be included in calculating such Operating
Expenses for each calendar year after 2018 during the Term shall be limited to 5% per calendar year on a cumulative basis. For
the purposes hereof, Controllable Operating Expenses means all Operating Expenses other than real estate taxes, insurance premiums
for casualty insurance and liability insurance carried on the Building by Landlord in reasonable amounts of coverage, and snow
removal, janitorial supplies, and water and sewer.

 

8.          RECONCILIATION.
Any failure by Landlord to deliver any estimate or statement of Additional Rent required under this Lease shall not operate as
a waiver of Landlord’s right to collect all or any portion of Additional Rent due hereunder. On an annual basis, Landlord
shall provide Tenant with a statement of all actual Operating Expenses for the preceding year. If Tenant has made estimated payments
of Operating Expenses or Taxes in excess of the actual amount due, Landlord shall credit Tenant with any overpayment against the
next Rent otherwise due, provided, however, if such overpayment occurs within the final year of the Term, then Landlord shall within
sixty (60) days reimburse Tenant in the amount of such overpayment in cash as part of Landlord’s reconciliation procedure
at the end of the Term. If the actual amount due exceeds the estimated payments made by Tenant during the preceding year, Tenant
shall pay the difference to Landlord within fifteen (15) business days and such obligation shall survive the expiration or earlier
termination of this Lease.

 

    	 	6	 

     

    

 

Tenant shall have the right during the Term, by providing written
notice to Landlord (the “Review Notice”) within sixty (60) days after receiving Landlord’s statement of actual
Operating Expenses, to review Landlord’s records relating to Operating Expenses for such year. Within a reasonable period
of time after receipt of a timely Review Notice, Landlord shall make such records available for Tenant’s review at either
Landlord’s home office or at the office of the property manager for the Building. If Tenant fails to give Landlord written
notice stating in reasonable detail any objection to Landlord’s statement of actual Operating Expenses within thirty (30)
days after such records are made available to Tenant for review then Tenant shall be deemed to have approved Landlord’s statement
of Operating Expenses for such year and Tenant shall have no further right to object or contest such statement. Upon Landlord’s
receipt of a timely objection notice from Tenant, Landlord and Tenant shall work together in good faith to resolve the discrepancy
between Landlord’s statement and Tenant’s review. If Landlord and Tenant determine that Operating Expenses for the
year in question are less than reported in Landlord’s statement, Landlord shall provide Tenant with a credit against future
Rent in the amount of any overpayment by Tenant. Likewise, if Landlord and Tenant determine that Operating Expenses for the year
in question are greater than reported in Landlord’s statement, Tenant shall forthwith pay to Landlord the amount of underpayment
by Tenant. Any information obtained by Tenant pursuant to the provisions of this section shall be treated as confidential and Landlord
may require that Tenant execute a confidentiality agreement as a condition of Tenant’s review. If Tenant retains an agent
to review Landlord’s books and records for any year, such agent must (i) be a CPA firm (ii) not be compensated on a contingency
basis, and (iii) execute a confidentiality agreement with respect to such review. Tenant shall be solely responsible for all costs
incurred by Tenant in connection with such review. Notwithstanding anything herein to the contrary, Tenant shall not be permitted
to review Landlord’s records or to dispute any statement of Operating Expenses if Tenant is in default or if Tenant has not
first paid to Landlord the amount due as shown on Landlord’s statement of actual Operating Expenses.

 

9.          INSURANCE.

 

(A)      Tenant
shall maintain the following insurance in force from the date upon which Tenant first enters the Premises and throughout the Term
and thereafter for so long as Tenant is in occupancy of any part of the Premises:

 

(i)         Commercial
General Liability insurance with limits of at least $1,000,000 per occurrence, $2,000,000 general aggregate, and, if the Tenant
manufacturers or produces a product, $2,000,000 products completed operations aggregate or such larger amounts as Landlord may
reasonably require from time to time, covering bodily injury and property damage arising out of the use of the Premises, as well
as products/completed operations, blanket contractual liability, personal injury and advertising liability;

 

(ii)        Worker’s
Compensation insurance as required by the state in which the Premises is located covering occupational injuries or disease to all
employees of Tenant and to any contractors, subcontractors or other agents used by Tenant for work or other activities on or about
the Premises. Such policy shall include Employer’s Liability limits of at least $500,000 each accident, $500,000 each employee,
and $500,000 disease;

 

    	 	7	 

     

    

 

(iii)       Business
Automobile Liability insurance for all owned (Symbol 1), non-owned (Symbol 9) hired, rented and/or borrowed (Symbol 8) vehicles
used by the Tenant, its employees or agents. Such policy shall include a combined single limit of liability of at least $1,000,000
per claim for bodily injury and property damage and shall provide that employees are insureds;

 

(iv)       Excess
or Umbrella Liability insurance with a limit of at least $5,000,000 providing additional limits of insurance over the primary per
occurrence and aggregate limits of the Commercial General Liability (including bodily injury, property damage, products/completed
operations, personal/advertising injury and blanket contractual liability), Employer’s Liability, and Business Auto Liability
insurance required in (i), (ii), and (iii) above; and

 

(v)        Property
insurance covering “all risk” of physical damage to Tenant’s personal property and any property in the care,
custody, and control of the Tenant. In addition this policy shall cover any direct or indirect physical damage to all alterations,
additions, improvements (including carpeting, floor coverings, paneling, decorations, fixtures and any improvements or betterments
to the Premises made by Tenant or by Landlord at Tenant’s request or for Tenant’s benefit) situated in or about the
Premises. Such coverage shall be for the full replacement value of the covered property.

 

(B)        Tenant’s
Commercial General Liability, and Excess Liability/Umbrella Liability policies shall name Landlord, Landlord’s managing agent,
and Landlord’s mortgagee as Additional Insureds and shall be primary insurance as to any insurance carried by the parties
designated as Additional Insureds. All policies purchased and maintained by Tenant to satisfy the requirements in this Lease must
be purchased from an insurance company with a minimum rating of “A- X” or its equivalent from one of the major rating
agencies (AM Best, Moodys, Standard & Poors, Fitch) that is admitted or eligible to do business in the state where the Premises
is located.

 

(C)        Tenant
shall provide Landlord with a certificate of insurance for each policy simultaneously with the delivery of an executed counterpart
of this Lease and prior to each renewal of such insurance. Such certificates of insurance shall be on an ACORD Form 27 or ISO Form
2026 or their equivalent, shall certify that such policy has been or shall be issued and that it provides the coverage and limits
required above, and shall provide that the insurance shall not be canceled or materially changed unless thirty (30) days prior
written notice shall be given to Landlord. In addition to providing the certificates of insurance required herein, Tenant shall
also promptly furnish any additional information, including complete copies of Tenant’s insurance policies, as Landlord may
request from time to time pertaining to Tenant’s insurance coverage. Tenant shall notify Landlord in writing at least sixty
(60) days in advance if Tenant intends to or receives a notice that its insurance company intends to cancel or non-renew such insurance
for any reason, or if the required coverage or limits are to be materially changed from the initial requirements in this Lease.
In the event that the applicable statutory time period is less than sixty (60) days, then Tenant shall notify Landlord within three
(3) business days of receipt of any cancellation or non-renew notice. In the event that Tenant fails to obtain or maintain the
insurance required above or fails to provide the Certificates of Insurance required, Landlord may, at its option, obtain such insurance
on behalf of Tenant. Tenant shall pay, as Additional Rent upon demand, the reasonable cost of such insurance plus a twenty-five
percent (25%) surcharge. Landlord’s failure to obtain such coverage on behalf of Tenant shall not limit Tenant’s liability
in the event of an uncovered loss.

 

    	 	8	 

     

    

 

(D)       Landlord
shall carry or cause to be carried such insurance in amounts and with deductibles as a reasonably prudent landlord would purchase
and maintain with respect to the Property. Tenant shall pay Tenant’s Percentage of Landlord’s insurance premiums (“Insurance
Premiums”) during the Term of the Lease as a part of Operating Expenses. Tenant shall not do or permit to be done anything
which shall contravene, invalidate, or increase the cost of the Landlord’s insurance and shall comply with all rules, orders,
regulations, requirements and recommendations of Landlord or its insurance companies relating to or affecting the condition, use,
or occupancy of the Premises. If Tenant does conduct any activity within or about the Premises that results in an increase to the
cost of Landlord’s insurance Tenant shall reimburse Landlord for the entire amount of such additional premiums or surcharges
on demand.

 

10.       WAIVER
OF SUBROGATION. Notwithstanding any other language of this Lease to the contrary, Landlord and Tenant each waive their respective
rights to recover from the other for any and all loss of or damage to their respective property if such loss or damage is covered,
or required by this Lease to be covered, by insurance. Tenant shall obtain an endorsement acknowledging such waiver from its insurance
company(s) evidencing compliance with this section.

 

11.       SECURITY
DEPOSIT. Upon execution of this Lease, Tenant shall deposit with Landlord the amount of the Security Deposit specified in Section
1 of this Lease. Provided that Tenant has paid all amounts due and has otherwise performed all obligations hereunder, the Security
Deposit shall be returned to Tenant without interest within sixty (60) days of the expiration of the Term, further provided that
Landlord may deduct from the Security Deposit prior to returning it any amounts owed by Tenant to Landlord. If Tenant defaults
under any provision of this Lease, Landlord may, but shall not be obligated to, apply all or any part of the Security Deposit to
cure the default. In the event Landlord elects to apply the Security Deposit as provided for above, Tenant shall, within five (5)
business days after Landlord’s demand, restore the Security Deposit to the original amount. Furthermore, if Tenant defaults
under this Lease more than two (2) times during any twelve (12) month period, irrespective of whether such default is cured, then,
without limiting Landlord’s other rights and remedies, Landlord may, in Landlord’s sole discretion, modify the amount
of the Security Deposit. Within ten (10) days after notice of such modification, Tenant shall submit to Landlord the required additional
sums and Tenant’s failure to do so shall constitute an Event of Default without further notice or right to cure, and Landlord
shall have the right to exercise any remedy provided for in this Lease. Landlord may, at its discretion, commingle the Security
Deposit with its other funds. Upon any sale or other conveyance of the Building, Landlord shall transfer the Security Deposit (or
any amount of the Security Deposit remaining) to a successor owner, and Tenant agrees to look solely to the successor owner for
repayment of the same, if it was transferred. The Security Deposit shall not operate as a limitation on any recovery to which Landlord
may be entitled.

 

    	 	9	 

     

    

 

12.       USE.
The Premises shall be used for the Permitted Use and for no other purposes whatsoever. Tenant shall not do or permit to be done
in or about the Premises, Building or Property anything which is prohibited by any ordinance, order, rule, regulation, certificate
of occupancy, or other governmental requirement, now in force or which may hereafter be enacted, including, without limitation,
the Americans with Disabilities Act of 1990, as amended (collectively, “Applicable Law”). Tenant shall comply with
all Applicable Law in its use of the Premises and common areas of the Property. Tenant shall use and cause all contractors, agents,
employees, invitees and visitors of Tenant to use the Premises and any common area of the Property in such a manner as to prevent
waste, nuisance and any disruption of other occupants. Tenant shall not place a load upon any floor in the Premises exceeding the
floor load per square foot of area which such floor was designed to carry or which is allowed by law. Tenant shall, at Tenant’s
sole cost and expense, make any changes necessary to bring the Premises into compliance with any Applicable Law. The judgment of
any court of competent jurisdiction or the admission by Tenant in any action or proceeding against Tenant, whether Landlord is
a party thereto or not, that Tenant has violated any Applicable Law in the use or occupancy of the Premises, Building or Property
shall be conclusive of that fact as between Landlord and Tenant.

 

13.       MAINTENANCE;
SERVICES. Excepting only those obligations for which Landlord is expressly responsible pursuant to this section, Tenant will,
throughout the Term and at its sole cost, keep and maintain the Premises and all fixtures and equipment located therein, including,
without limitation, carpeting, wall-covering, doors, plumbing and other fixtures, and any alterations performed for the benefit
of the Premises, clean safe and in good working order, condition and repair and make all necessary repairs and replacements thereto,
including, without limitation, replacing all interior broken glass with glass of the same size and quality as that broken and repairing
or replacing all systems or portions of systems exclusively serving the Premises including, without limitation, electrical, mechanical,
plumbing and heating, ventilating and air conditioning systems. All repairs and replacements required of Tenant in connection herewith
shall be of a quality and class at least equal to the minimum building standards established by the then applicable building code
requirements in Allentown, Pennsylvania and shall be done in a good and workmanlike manner in compliance with all applicable laws
and the terms and conditions of this Lease. If Tenant fails to consistently maintain the Premises in compliance with the terms
hereof, Landlord shall have the right to do such acts and expend such funds at the expense of Tenant as are reasonably required
and Tenant shall reimburse Landlord for the cost thereof as Additional Rent upon demand. If Tenant uses heat generating machines
or equipment in the Premises that materially affect the temperature otherwise maintained by the heating, ventilating and air conditioning
system, Landlord reserves the right to install supplementary units for the Premises and the cost of supplementary units, if installed
by Landlord, including the cost of installation, operation and maintenance, shall be paid by Tenant to Landlord as Additional Rent
upon demand. Should Tenant require any additional service not provided by Landlord pursuant to this Lease, including any services
furnished outside the Building’s normal business hours, Landlord may, but shall not be obligated to, furnish such additional
service and Tenant agrees to pay Landlord’s charges therefor, including a reasonable administrative fee, any taxes imposed
thereon, and, where appropriate, a reasonable allowance for depreciation of any systems being used to provide such service, as
Additional Rent upon demand.

 

Landlord shall maintain
the roof, foundation, exterior walls, structural portions, elevators, if any, any common areas and electrical, plumbing, mechanical
and fire protection systems (subject to systems exclusive to the Premises such as dishwashers) of the Building, the cost of which
shall be included as a part of Operating Expenses, provided that Landlord shall have no obligation to make any repairs unless Landlord
has first received written notice of the need for such repairs from Tenant. Notwithstanding the foregoing, any damage to the Property
occasioned by the negligence or willful act of Tenant or any person claiming under Tenant, or contractors, agents, employees, invitees
or visitors of Tenant or any such person, shall be repaired by and at the sole expense of Tenant, except that Landlord shall have
the right, at its sole option, to make such repairs and to charge Tenant for all costs and expenses incurred in connection therewith
and Tenant shall pay the cost therefor as Additional Rent upon demand.

 

    	 	10	 

     

    

 

14.       SUBLEASE;
ASSIGNMENT. Tenant shall not mortgage, pledge, hypothecate or otherwise encumber its interest in this Lease. Tenant shall not
allow the Premises to be occupied, in whole or in part, by any other party and shall neither sublet the Premises, in whole or in
part, nor assign this Lease, nor amend any sublease or assignment to which Landlord has consented, without in each case obtaining
the prior written consent of Landlord. Any sublease or assignment, or amendment to any sublease or assignment, without Landlord’s
prior written consent shall, at Landlord’s option, be null, void and of no effect, and shall, at Landlord’s option,
constitute an Event of Default. The provisions of this section shall apply to a transfer, by one or more transfers, of all, or
substantially all, of the business or assets of Tenant, of a majority of the stock, partnership or membership interests, or other
evidences of ownership, of Tenant, and of any shares, voting rights or ownership interests of Tenant which results in a change
in the identity of the entity or entities which exercise, or may exercise, effective control of Tenant as if such transfers were
an assignment of this Lease. Tenant must request Landlord’s consent to any assignment or sublease at least thirty (30) days
prior to the proposed effective date of the assignment or sublease. At the time of its request, Tenant shall provide Landlord in
writing: (a) the name and address of the proposed assignee or subtenant, (b) a complete copy of the proposed assignment or sublease,
(c) reasonably satisfactory information about the nature, business, and business history of the proposed assignee or subtenant
and its proposed use of the Premises, and (d) banking, financial or other credit information about the proposed assignee or subtenant
sufficient to enable Landlord to determine its financial condition and operating performance. Landlord shall not unreasonably withhold,
condition or delay its consent to Tenant’s written request to sublease the Premises or assign this Lease which is made in
compliance with the terms and conditions of this section. Without limiting the other instances in which it may be reasonable for
Landlord to withhold its consent to an assignment or sublease, Landlord’s refusal to consent to any proposed assignment or
sublease shall not be unreasonable if: (a) the financial condition or operating performance of the proposed subtenant or assignee,
determined in Landlord’s reasonable discretion, is less than the greater of the financial condition or operating performance
of the Tenant on (i) the date of execution of this Lease or (ii) the date of Tenant’s request for Landlord’s consent
to the proposed assignment or sublease, (b) Tenant is in default under any of the terms, covenants or conditions of this Lease,
(c) the proposed use of the Premises may result in: (i) increased wear and tear on the Premises, Building or Property or (ii) any
adverse effect on other tenants in the Building or adjacent buildings owned by Landlord, (d) the proposed subtenant or assignee
is a governmental agency, (e) Landlord has space available elsewhere in the Building which can accommodate the needs of the proposed
subtenant or assignee or the proposed subtenant or assignee is a prospect to whom Landlord has made a proposal for the lease of
space within the prior six (6) months, in Allentown, PA, (g) the proposed subtenant or assignee would cause Landlord to be in violation
of any covenant or restriction contained in another lease or other agreement, or (h) Landlord’s lender, if any, does not
consent to the proposed sublease or assignment.

 

    	 	11	 

     

    

 

No subletting or assignment
shall release Tenant from Tenant’s obligations under this Lease or alter the primary liability of Tenant to pay the Rent
and to perform all other obligations to be performed by Tenant hereunder. Any subtenant shall, at Landlord’s election, attorn
to Landlord following any early termination of this Lease and any assignee shall be jointly and severally liable for the full performance
of all of Tenant’s obligations hereunder. Landlord may require, as a condition to granting Landlord’s consent with
respect to the provisions of this section, that the proposed subtenant or assignee enter into a written agreement with Landlord
confirming the obligations of such subtenant or assignee under this Lease. Tenant shall pay, as Additional Rent on demand, all
legal fees incurred by Landlord in connection with each proposed assignment or sublease whether or not Landlord’s consent
is obtained. If Tenant receives rent or other payments under any assignment or sublease in excess of the payments made by Tenant
to Landlord under this Lease (as such amounts are adjusted on a per square foot basis if less than all of the Premises is transferred),
then Tenant shall pay Landlord one-half of such excess after deducting the actual out of pocket costs of tenant improvements, market
brokerage commissions, and reasonable legal fees incurred by Tenant in connection with such sublease or assignment. Landlord’s
consent to one assignment or sublease shall not be deemed a waiver of the requirement of Landlord’s consent to any subsequent
assignment or sublease. In the event Tenant seeks to assign its interest in this Lease, and Landlord does not consent to such proposed
assignment, Landlord may elect to terminate this Lease in its entirety, and the last day of the Term of this Lease shall be the
thirtieth (30th) day after Landlord notifies Tenant of Landlord’s election to terminate this Lease. In the event Tenant seeks
to sublet all or any portion of the Premises and Landlord does not consent to such proposed sublease, Landlord may elect to terminate
this Lease with respect to the portion of the Premises that would be subject to such sublease and the last day of the Term of this
Lease for such space shall be the thirtieth (30th) day after Landlord notifies Tenant of Landlord’s election to terminate
this Lease and, if less than the entire Premises is affected, Landlord shall have the right to perform any alterations to make
such space a self-contained rental unit.

 

15.       INDEMNITY;
NON-LIABILITY OF LANDLORD. Except to the extent prohibited by law, as a material part of the consideration for Landlord’s
execution of this Lease, Tenant shall neither hold nor attempt to hold Landlord or its employees or Landlord’s agents or
contractors or their employees liable for, and Tenant covenants and agrees that it shall indemnify and defend Landlord for and
against any and all penalties, damages, fines, causes of action, liabilities, judgments, expenses (including, without limitation,
attorneys’ fees) or charges incurred in connection with or arising from: (i) the use or occupancy of the Premises by Tenant
or any person claiming under Tenant; (ii) any acts, omissions or negligence of Tenant or any person claiming under Tenant, or contractors,
agents, employees, invitees or visitors of Tenant or any such person; (iii) any breach, violation or nonperformance by Tenant or
any person claiming under Tenant or the employees, agents, contractors, invitees or visitors of Tenant or any such person of any
term, covenant or provision of this Lease or any law, ordinance or governmental requirement of any kind; (iv) any injury or damage
to the person, property or business of Tenant, its employees, agents, contractors, invitees, visitors or any other person entering
upon the Property under the express or implied invitation of Tenant; or (v) any matter occurring in the Premises during the Term,
except for any such matter occurring in the Premises which arises directly as a result of Landlord’s gross negligence or
willful misconduct and not as a result of any other matter described in (i) through (iv) above.

 

    	 	12	 

     

    

 

Except for the grossly
negligent acts or willful misconduct of the Landlord, the Landlord, to the fullest extent not prohibited by law, shall not be liable
for any damage occasioned by failure to keep the Premises, Building or Property in repair, nor for any damage done or occasioned
by or from plumbing, gas, electricity, water, sprinkler, or other pipes or sewerage or the bursting, leaking or running of any
pipes, tank or plumbing fixtures, in, above, upon or about the Premises or the Building nor from any damage occasioned by water,
snow or ice being upon or coming through the roof, skylights, trap door or otherwise, nor for any damages arising from acts, or
neglect of co-tenants or other occupants of the Building or of any owners or occupants of adjacent or contiguous property, nor
for any loss of or injury to property or business occurring, through, in connection with or incidental to the failure to furnish
any such services or the interruption of any services to the Premises. Further, Landlord shall not be liable or responsible to
Tenant for any loss or damage to any property or person occasioned by theft or any other criminal act, fire, act of God, public
enemy, injunction, riot, strike, insurrection, war, court order, law of requisition or order of any governmental authority.

 

Landlord shall not be liable
in any event for incidental or consequential damages to Tenant by reason of any default by Landlord hereunder, whether or not Landlord
is notified that such damages may occur. The term “Landlord”, as used in this Lease, so far as covenants or obligations
to be performed by Landlord are concerned, means only the owner or owners at the time in question of the Landlord’s interest
in the Building, and in the event of any transfer or transfers of title to the Landlord’s interest in the Building, the Landlord
herein named (and in case of any subsequent transfers or conveyances, the then grantor) shall be automatically freed and relieved
from and after the date of such transfer or conveyance of all liability as respects the performance of any covenants or obligations
on the part of the Landlord contained in this Lease thereafter to be performed. Tenant’s sole recourse against Landlord,
and any successor to the interest of Landlord in the Premises, is to the interest of Landlord, and any successor, in the Premises
and the Building of which the Premises are a part. In no event whatsoever shall Landlord or any beneficiary of any trust of which
Landlord is a trustee or any of Landlord’s officers, directors, partners, managers, members, shareholders, agents, attorneys
and employees ever be personally liable hereunder.

 

16.       UTILITIES.
Tenant shall contract directly with public utility providers for all utilities which are separately metered to the Premises and
shall pay such utility providers directly and promptly when due. If any utility is not separately metered to the Premises, the
cost of such utility consumed on the Premises, as reasonably determined by Landlord, by reference to a submeter, if applicable,
or otherwise, shall be paid by Tenant as a part of Operating Expenses. Tenant’s obligation to pay for utilities provided
to the Premises during the Term shall survive the expiration or earlier termination of the Lease. Tenant shall not utilize an alternative
provider for a utility service other than the public utility provider servicing the Property unless Tenant shall first obtain the
written consent of Landlord. Landlord shall in no way be liable or responsible for any loss, damage, or expense that Tenant may
sustain or incur by reason of any change, failure, interruption, or defect in the supply or character of the electric energy furnished
to the Premises or Building. To ensure the proper functioning and protection of all utilities, Tenant agrees to abide by all reasonable
regulations and requirements which Landlord may prescribe and to allow Landlord and its utility providers access to all electric
lines, feeders, risers, wiring, and any other machinery within the Premises.

 

    	 	13	 

     

    

 

17.       HOLDING
OVER. If Tenant or any party claiming by or under Tenant remains in occupancy of the Premises or any part thereof beyond the
expiration or earlier termination of this Lease, such holding over shall be without right and a tenancy at sufferance, and Tenant
shall be liable to Landlord for any loss or damage incurred by Landlord as a result thereof, including consequential damages. In
addition, for each month or any part thereof that such holding over continues, Tenant shall pay to Landlord a monthly fee for the
use and occupancy of the Premises equal to the greater of (a) the monthly fair market rental for the Premises and (b) one hundred
fifty percent (150%) of the Rent payable for the month immediately preceding such hold over for the first thirty (30) days of such
holdover and equal to the greater of (a) the monthly fair market rental for the Premises and (b) two hundred percent (200%) of
the Rent payable for the month immediately preceding such hold over thereafter, and there shall be no adjustment or abatement for
any partial month. The provisions of this section shall not be deemed to limit or exclude any of Landlord’s rights of re-entry
or any other right granted to Landlord hereunder, at law or in equity.

 

18.       NO
RENT DEDUCTION OR SET OFF. Tenant’s covenant to pay Rent is and shall be independent of each and every other covenant
of this Lease. Tenant agrees that any claim by Tenant against Landlord shall not be deducted from Rent nor set off against any
claim for Rent in any action. No payment by Tenant or receipt by Landlord of a lesser amount than the Rent herein stipulated shall
be deemed to be other than on account of the earliest stipulated Rent, nor shall any endorsement or statement on any check or any
letter accompanying any check or payment as Rent be deemed an accord and satisfaction, and Landlord may accept such check or payment
without prejudice to Landlord’s right to recover the balance of such Rent or pursue any remedy provided in this Lease or
at law. In connection with the foregoing, Landlord shall have the absolute right in its sole discretion to apply any payment received
from Tenant to any account or other payment of Tenant then not current and due or delinquent.

 

19.       CASUALTY.
If the Premises or any part thereof are damaged by fire or other casualty, Tenant shall give prompt notice thereof to Landlord.
If the Premises or the Building are totally or partially damaged or destroyed by fire or other casualty, thereby rendering the
Premises totally or partially inaccessible or unusable, Landlord shall diligently restore and repair the Premises and the Building
to substantially the same condition they were in prior to such damage. Provided that such damage was not caused by the act or omission
of Tenant or any of its employees, agents, licensees, invitees or subtenants, until the repair and restoration of the Premises
is completed Base Rent shall be abated for that part of the Premises that Tenant is unable to use without substantial interference
and is not occupied while repairs are being made, based on the ratio that the amount of unusable rentable area bears to the total
rentable area of the Premises. Landlord shall bear the costs and expenses of repairing and restoring the Premises and the Building,
provided, however, that Landlord shall not be obligated to spend more than the net proceeds of insurance proceeds made available
for such repair and restoration nor shall Landlord be obligated to repair or restore, or to pay for the repair or restoration of,
any furnishings, equipment or personal property belonging to Tenant or any alterations, additions, or improvements (including carpeting,
floor coverings, paneling, decorations, fixtures) made to the Premises or Building by Tenant or by Landlord at Tenant’s request
or for Tenant’s benefit. It shall be Tenant’s sole responsibility to repair and restore all such items.

 

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Notwithstanding the foregoing,
(a) if there is a destruction of the Building that exceeds twenty-five percent (25%) of the replacement value of the Building from
any risk, whether or not the Premises are damaged or destroyed, or (b) if Landlord reasonably believes that the repairs and restoration
cannot be completed despite reasonable efforts within ninety (90) days after the occurrence of such damage, or (c) if Landlord
reasonably believes that there shall be less than two (2) years remaining in the Term (exclusive of any extension options) upon
the substantial completion of such repairs and restoration, or (d) if any mortgagee or lender fails or refuses to make sufficient
insurance proceeds available for repairs and restoration, or (e) if zoning or other applicable laws or regulations do not permit
such repairs and restoration, Landlord shall have the right to terminate this Lease by giving written notice of termination to
Tenant within one hundred eighty (180) days after the occurrence of such damage. If this Lease is terminated pursuant to the preceding
sentence, all Rent payable hereunder shall be apportioned and paid to the date of termination.

 

All time periods provided
in this Section for Landlord’s performance shall be subject to extension on account of delays in effectuating a satisfactory
settlement with any insurance company involved and events beyond Landlord’s reasonable control. In the event of any damage
or destruction to the Building or Premises, it shall be Tenant’s responsibility to secure the Premises and, upon notice from
Landlord, to remove forthwith, at its sole cost and expense, property belonging to Tenant or its licensees from such portion of
the Premises as Landlord shall request.

 

Notwithstanding anything
to the contrary in this section, in the event Landlord elects or is required to repair and restore the Premises, and such repair
has not commenced within ninety (90) days after the date of casualty, or been substantially completed within two hundred seventy
(270) days following the date repair was commenced, Tenant shall have the right to terminate the Lease by providing written notice
to Landlord, such termination to be effective sixty (60) days after notice from Tenant is received by Landlord, unless Landlord
substantially completes the repairs within such sixty (60) day period.

 

20.       SUBORDINATION;
ESTOPPEL LETTERS.

 

(A)       This
Lease is expressly subordinate to any current or future mortgage or mortgages placed on the Property and to all other documents
executed in connection with any such mortgage. Tenant agrees not to pay rent more than thirty (30) days in advance and to attorn
to any party acquiring rightful possession of the Premises by or through any such mortgage ("Successor Landlord"). Notwithstanding
anything to the contrary in this Lease, Successor Landlord shall not be liable for or bound by any of the following matters: (i)
any right of Tenant to any offset, defense, claim, counterclaim, reduction, deduction, or abatement against Tenant's payment of
rent or performance of Tenant's other obligations under this Lease, arising from Landlord's breach or default under this Lease
("Offset Right") that Tenant may have against Landlord or any other party that was landlord under this Lease at any time
before the occurrence of any attornment by Tenant ("Former Landlord") relating to any event or occurrence before the
date of attornment, including any claim for damages of any kind whatsoever as the result of any breach by Former Landlord that
occurred before the date of attornment; provided, however, the foregoing shall not limit either (x) Tenant’s right to exercise
against Successor Landlord any Offset Right otherwise available to Tenant because of events occurring after the date of attornment
or (y) Successor Landlord’s obligation to correct any conditions that existed as of the date of attornment and violate Successor
Landlord’s obligations as landlord under this Lease; (ii) any obligation with respect to any security deposited with Former
Landlord, unless such security was actually delivered to Successor Landlord; (iii) any payment of rent that Tenant may have made
to Former Landlord more than thirty (30) days before the date such rent was first due and payable under the Lease with respect
to any period after the date of attornment other than, and only to the extent that, the Lease expressly required such a prepayment;
and (iv) to commence or complete any initial construction of improvements in the Premises, unless sums to commence or complete
such construction shall have been actually delivered to Successor Landlord by way of an assumption of escrow accounts or otherwise;
and (v) to pay Tenant any sum(s) that any Former Landlord owed to Tenant unless such sums, if any, shall have been actually delivered
to Successor Landlord by way of an assumption of escrow accounts or otherwise.

 

    	 	15	 

     

    

 

Tenant shall send to each
Mortgagee (after notification of the identity of such Mortgagee and the mailing address thereof is provided to Tenant) copies of
all default notices that Tenant sends to Landlord; such notices to said mortgagee shall be sent concurrently with the sending of
the notices to Landlord and in the same manner as notices are required to be sent pursuant to this Lease. Tenant will accept performance
of any provision of this Lease by such mortgagee as performance by, and with the same force and effect as though performed by,
Landlord. If any act or omission of Landlord would give Tenant the right, immediately or after lapse of a period of time, to cancel
or terminate this Lease, or to claim a partial or total eviction, Tenant shall not exercise such right until (a) Tenant gives notice
of such act or omission to Landlord and Mortgagee, and (b) a reasonable period of time for remedying such act or omission elapses
following the time when Mortgagee becomes entitled under the applicable mortgage to remedy same (which reasonable period shall
in no event be less than the period to which Landlord is entitled under this Lease).

 

(B)       Tenant
agrees that from time to time it shall deliver to Landlord or Landlord’s mortgagee or designee within ten (10) business days
of the date of Landlord’s or Landlord’s mortgagees or such other designee’s request, a statement, in writing,
certifying (i) that this Lease is unmodified and in full force and effect, if this is so, or if there have been modifications,
that the Lease, as modified, is in full force and effect; (ii) the dates to which Rent and other charges have been paid; (iii)
that Landlord is not in default under any provisions of this Lease or, if in default, the nature thereof in reasonable detail;
(iv) the subordination of this Lease to any current or future mortgage or mortgages placed on the Property by Landlord and Tenant’s
agreement to attorn to any party acquiring rightful possession of the Premises by or through any such mortgage; and (v) such other
true statements as Landlord or Landlord’s mortgagee or designee may require. Tenant’s failure to execute and deliver
such statements within the time required shall, at Landlord’s election, be an Event of Default and shall also be conclusive
upon Tenant that (a) this Lease is in full force and effect and has not been modified except as represented by Landlord; (b) that
Landlord is not in default under any provisions of this Lease and that Tenant has no right of offset, counterclaim or deduction
against Rent; and (c) not more than one month’s Rent has been paid in advance.

 

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21.       ALTERATIONS;
RESTORATION.

 

(A)       Tenant
shall not make or permit to be made any alterations, additions, or improvements in or to the Premises (“Alterations”)
without first obtaining the prior written consent of Landlord which consent may be withheld in Landlord’s sole discretion.
All Alterations (i) must comply with all applicable laws, (ii) must be compatible with the Building and its mechanical, electrical,
heating, ventilating, air-conditioning and life safety systems; (iii) must not interfere with the use and occupancy of any other
portion of the Building by any other tenant or their invitees; and (iv) must not affect the integrity of the structural portions
of the Building. In addition, Landlord may impose as a condition to such consent such additional requirements as Landlord in its
sole discretion deems necessary or desirable, including, without limitation: (a) Tenant’s submission to Landlord, for Landlord’s
prior written approval, of all plans and specifications relating to the Alterations; (b) Landlord’s prior written approval
of the time or times when the Alterations are to be performed; (c) Landlord’s prior written approval of the contractors and
subcontractors performing work in connection with the Alterations; (d) Tenant’s receipt of all necessary permits and approvals
from all governmental authorities having jurisdiction over the Premises prior to the construction of the Alterations; (e) Tenant’s
delivery to Landlord of such bonds and insurance as Landlord customarily requires; (f) Tenant’s payment to Landlord of a
commercially reasonable fee for Landlord’s supervision of any Alterations; (g) Tenant’s and Tenant’s contractor’s
compliance with such construction rules and regulations and building standards as Landlord promulgates from time to time; and (i)
Tenant’s delivery to Landlord of “as built” drawings of the Alterations in such form or medium as Landlord may
require. All direct and indirect costs relating to any modifications, alterations or improvements of Building, whether outside
or inside of the Premises, required by any governmental agency or by law as a condition or as the result of any Alteration requested
or effected by Tenant shall be borne by Tenant. Landlord may elect to perform such modifications, alterations or improvements (at
Tenant’s sole cost and expense) or require such performance directly by Tenant. Tenant shall not permit any mechanic’s
lien or other liens to be placed upon the Premises or the Building as a result of any materials, services or labor ordered by or
provided to Tenant or any of Tenant’s agents, officers, or employees. Without waiving any other rights or remedies under
this Lease, Landlord may bond or insure or otherwise discharge any such lien and Tenant shall reimburse Landlord for any amount
paid by Landlord in connection therewith as Additional Rent upon demand. Notwithstanding the foregoing, Landlord will not withhold
its consent to the performance by Tenant of cosmetic Alterations that (a) cost less than $20,000.00 in the aggregate in any calendar
year (b) are not visible from the exterior of the Premises, and (c) comply with requirements (i) through (iv) of this subsection,
provided prior notice of such cosmetic Alterations has been provided to Landlord.

 

(B)        Upon
the expiration or earlier termination of the Lease, Tenant shall surrender the Premises in good working order and condition. Tenant
shall remove any and all Alterations, trade fixtures, equipment, data/telecommunications cabling and wiring installed by or on
behalf of Tenant and furniture from the Premises and Tenant shall fully repair any damage, including any structural damage above
normal wear and tear, occasioned by the removal of the same. Notwithstanding the foregoing, Landlord may require that Tenant not
remove any or all Alterations and any such Alteration or Alterations shall become a part of the realty and shall belong to Landlord
without compensation, and title thereto shall pass to Landlord under this Lease as by a bill of sale. At Landlord’s election,
all Alterations, trade fixtures, equipment, wire and cable, furniture, fixtures, other personal property not removed shall conclusively
be deemed to have been abandoned by Tenant and may be appropriated, sold, stored, destroyed or otherwise disposed of by Landlord
without notice to Tenant or to any other person and without obligation to account for them. Tenant shall pay Landlord all reasonable
expenses incurred in connection with Landlord’s disposition of such property, including without limitation the cost of repairing
any damage to the Building or the Premises caused by removal of such property, and shall hold Landlord harmless from loss, liability,
or expense arising from the claims of third parties such as Tenant’s lenders whose loans are secured by such property. Tenant’s
obligations under this section shall survive the end of this Lease.

 

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22.       DEFAULT;
REMEDIES.

 

(A)       In
addition to any other acts or omissions designated in this Lease as Events of Default, each of the following shall constitute an
Event of Default by Tenant hereunder: (i) the failure to make any payment of Rent or any installment thereof or to pay any other
sum required to be paid by Tenant under this Lease or under the terms of any other agreement between Landlord and Tenant after
written notice and grace period of five (5) days to cure (the notice and cure period shall not be offered for more than 2 defaults
per 12 month period); (ii) the use or occupancy of the Premises for any purpose other than the Permitted Use without Landlord’s
prior written consent or the conduct of any activity in the Premises which constitutes a violation of law; (iii) if the interest
of Tenant or any part thereof under this Lease shall be levied on under execution or other legal process and said interest shall
not have been cleared by said levy or execution within fifteen (15) days from the date thereof; (iv) if any voluntary or involuntary
petition in bankruptcy or for corporate reorganization or any similar relief shall be filed by or against Tenant or any guarantor
of the Lease or if a receiver shall be appointed for Tenant or any guarantor or any of the property of Tenant or guarantor; (v)
if Tenant or any guarantor of the Lease shall make an assignment for the benefit of creditors or if Tenant shall admit in writing
its inability to meet Tenant’s debts as they mature; (vi) if any insurance required to be maintained by Tenant pursuant to
this Lease shall be cancelled or terminated or shall expire or shall be reduced or materially changed, except, in each case, as
permitted in this Lease, or mutually agreed to in writing by the parties; (vii) if Tenant shall fail to immediately discharge or
bond over any lien placed upon the Premises in violation of this Lease; (viii) if Tenant shall abandon or vacate the Premises during
the Term; (ix) if Tenant shall fail to execute and deliver an estoppel certificate or subordination agreement as required hereunder;
or (x) the failure to observe or perform any of the other covenants or conditions in this Lease which Tenant is required to observe
and perform and which Tenant has not corrected within twenty (20) days after written notice thereof to Tenant, provided, however,
that if (x) Tenant can not through best efforts correct such failure within said twenty (20) day period, and (y) Tenant has provided
Landlord with written documentation detailing the steps taken to correct the failure prior to the twentieth (20th) day
of said period, then Tenant shall have such longer period as is reasonably required to correct any such default not to exceed twenty
(20) additional days; provided, however, that if said failure involves the creation of a condition which, in Landlord’s reasonable
judgment, is dangerous or hazardous, Tenant shall be required to cure same within 24 hours.

 

(B)        Upon
the occurrence of an Event of Default by Tenant beyond any applicable notice and cure period, the unamortized cost of all legal
fees, Tenant allowances, work performed by Landlord to the Premises, and any other Tenant inducements paid or provided under this
Lease plus interest on the foregoing items accruing from the date of such Event of Default at the Default Rate shall immediately
become due, and Landlord may, at its option, with or without notice or demand of any kind to Tenant or any other person, exercise
any one or more of the following described remedies, in addition to all other rights and remedies provided at law, in equity or
elsewhere herein, and such rights and remedies shall be cumulative and none shall exclude any other right allowed by law:

 

    	 	18	 

     

    

 

(i)         Landlord
may terminate this Lease, repossess and re-let the Premises, in which case Landlord shall be entitled to recover as damages (in
addition to any other sums or damages for which Tenant may be liable to Landlord) a lump sum equal to the amount by which the present
value of the excess Rent remaining to be paid by Tenant for the balance of the Term of the Lease exceeds the fair market rental
value of the Premises, after deduction of all anticipated expenses of reletting. For the purpose of determining present value,
Landlord and Tenant agree that the interest rate shall be the rate applicable to the then-current yield on obligations of the U.S.
Treasury having a maturity date on or about the Expiration Date. Should the fair market rental value of the Premises for the balance
of the Term (after deduction of all anticipated expenses of reletting) exceed the value of the Rent to be paid by Tenant for the
balance of the Term, Landlord shall have no obligation to pay to or otherwise credit Tenant for any such excess amount;

 

(ii)        Landlord
may, without terminating the Lease, terminate Tenant’s right of possession, repossess the Premises including, without limitation,
removing all or any part of Tenant’s personal property in the Premises and to place such personal property in storage or
a public warehouse at the expense and risk of Tenant, and relet the same for the account of Tenant for such rent and upon such
terms as shall be satisfactory to Landlord. For the purpose of such reletting, Landlord is authorized to decorate, repair, remodel
or alter the Premises. Tenant shall pay to Landlord as damages a sum equal to all Rent under this Lease for the balance of the
Term unless and until the Premises are relet. If the Premises are relet, Tenant shall be responsible for payment upon demand to
Landlord of any deficiency between the Rent as relet and the Rent for the balance of this Lease, all costs and expenses of reletting,
and all reasonable decoration, repairs, remodeling, alterations, additions and collection of the rent accruing therefrom. Tenant
shall not be entitled to any rents received by Landlord in excess of the rent provided for in this Lease. No re-entry or taking
possession of the Premises by Landlord shall be construed as an election to terminate this Lease unless a written notice of such
intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding
any reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for any breach, and in addition
to the other remedies it may have, recover as damages (in addition to any other sums or damages for which Tenant may be liable
to Landlord) a lump sum equal to the amount by which the present value of the excess Rent remaining to be paid by Tenant for the
balance of the Term of the Lease exceeds the fair market rental value of the Premises, after deduction of all anticipated expenses
of reletting. In the event Landlord repossesses the Premises as provided above, Landlord may remove all persons and property from
the Premises and store any such property at the cost of Tenant, without liability for damage; and

 

(iii)       Landlord
may, but shall not be obligated to, and without waiving or releasing Tenant from any obligations of Tenant hereunder, make any
payment or perform such other act on Tenant’s part to be made or performed as provided in this Lease. All sums so paid by
Landlord and all necessary incidental costs shall be payable to Landlord as Additional Rent on demand and Tenant covenants to pay
such sums.

 

    	 	19	 

     

    

 

(iv)       By
notice to Tenant, Landlord shall have the right to accelerate all Rent and all expense due hereunder and otherwise payable in installments
over the remainder of the Term; and the amount of accelerated rent to the termination date, without further notice or demand for
payment, shall be due and payable by Tenant within five (5) days after Landlord has so notified Tenant, such amount collected from
Tenant shall be discounted to present value using an interest rate of six percent (6%) per annum. Any Additional Rent which has
not been included, in whole or in part, in accelerated rent, shall be due and payable by Tenant during the remainder of the Term,
in the amounts and at the times otherwise provided for in this Lease.

 

(C)       Tenant
agrees that Landlord may file suit to recover any sums falling due under the terms of this section from time to time and that no
suit or recovery of any portion due Landlord hereunder shall be any defense to any subsequent action brought for any amount not
theretofore reduced to judgment in favor of Landlord.

 

(D)       Tenant
shall promptly pay upon notice, as Additional Rent, all reasonable costs, charges and expenses incurred by Landlord (including,
without limitation, reasonable fees and out-of-pocket expenses of legal counsel, collection agents, and other third parties retained
by Landlord) together with interest thereon at the rate set forth in Section 5 of this Lease, in collecting any amount due from
Tenant, enforcing any obligation of Tenant hereunder, or preserving any rights or remedies of Landlord; and Tenant shall pay all
reasonable attorneys’ fees and expenses arising out of any litigation, negotiation or transaction in which Tenant causes
Landlord, without Landlord’s fault, to become involved or concerned.

 

(E)       No
waiver of any provision of this Lease shall be implied by any failure of Landlord to enforce any remedy on account of the violation
of such provision, even if such violation be continued or repeated subsequently, and no express waiver by Landlord shall be valid
unless in writing and shall not affect any provision other than the one specified in such written waiver and that provision only
for the time and in the manner specifically stated in the waiver. No receipt of monies by Landlord from Tenant after the termination
of this Lease shall in any way alter the length of the Term or Tenant’s right of possession hereunder or after the giving
of any notice shall reinstate, continue or extend the Term or affect any notice given Tenant prior to the receipt of such monies,
it being agreed that after the service of notice or the commencement of a suit or after final judgment for possession of the Premises,
Landlord may receive and collect any Rent due, and the payment of Rent shall not waive or affect said notice, suit or judgment.
Landlord shall not be required to serve Tenant with any notices or demands as a prerequisite to its exercise of any of its rights
or remedies under this Lease, other than those notices and demands specifically required under this Lease. Tenant expressly waives
the service of any statutory demand or notice which may be specified in the Landlord and Tenant Act of Pennsylvania, Act of April
6, 1951, as amended, or ay similar or successor provision of law and agrees that five (5) days’ notice shall be sufficient
in any case where a longer period may be statutorily specified.

 

    	 	20	 

     

    

 

(F)       In
addition to, and not in lieu of any of the foregoing rights granted to Landlord: TENANT HEREBY EMPOWERS ANY PROTHONOTARY, CLERK
OF COURT OR ATTORNEY OF ANY COURT OF RECORD TO APPEAR FOR TENANT IN ANY AND ALL ACTIONS WHICH MAY BE BROUGHT FOR ANY RENT, OR ANY
CHARGES HEREBY RESERVED OR DESIGNATED AS RENT OR ANY OTHER SUM PAYABLE BY TENANT TO LANDLORD UNDER OR BY REASON OF THIS LEASE,
INCLUDING, WITHOUT LIMITATION, ANY SUM PAYABLE HEREUNDER, AND TO SIGN FOR TENANT AN AGREEMENT FOR ENTERING IN ANY COMPETENT COURT
AN ACTION OR ACTIONS FOR THE RECOVERY OF SAID RENT, CHARGES AND OTHER SUMS, AND IN SAID SUIT OR IN SAID ACTION OR ACTIONS TO CONFESS
JUDGMENT AGAINST TENANT FOR ALL OR ANY PART OF THE RENT SPECIFIED IN THIS LEASE AND THEN UNPAID INCLUDING, AT LANDLORD’S
OPTION, THE RENT FOR THE ENTIRE UNEXPIRED BALANCE OF THE TERM OF THIS LEASE, AND ALL OR ANY PART OF ANY OTHER OF SAID CHARGES OR
SUMS, AND FOR INTEREST AND COSTS TOGETHER WITH REASONABLE ATTORNEY’S FEES OF 5%. SUCH AUTHORITY SHALL NOT BE EXHAUSTED BY
ONE EXERCISE THEREOF, BUT JUDGMENT MAY BE CONFESSED AS AFORESAID FROM TIME TO TIME AS OFTEN AS ANY OF SAID RENT OR SUCH OTHER SUMS,
CHARGES, PAYMENTS, COSTS AND EXPENSES SHALL FALL DUE OR BE IN ARREARS, AND SUCH POWERS MAY BE EXERCISED AS WELL AFTER THE EXPIRATION
OF THE TERM OR DURING ANY EXTENSION OR RENEWAL OF THIS LEASE.

 

WHEN THIS LEASE OR TENANT’S
RIGHT OF POSSESSION SHALL BE TERMINATED BY COVENANT OR CONDITION BROKEN, OR FOR ANY OTHER REASON, EITHER DURING THE TERM OF THIS
LEASE OR ANY RENEWAL OR EXTENSION THEREOF, AND ALSO WHEN AND AS SOON AS THE TERM HEREBY CREATED OR ANY EXTENSION THEREOF SHALL
HAVE EXPIRED, IT SHALL BE LAWFUL FOR ANY ATTORNEY AS ATTORNEY FOR TENANT TO FILE AN AGREEMENT FOR ENTERING IN ANY COMPETENT COURT
AN ACTION TO CONFESS JUDGMENT IN EJECTMENT AGAINST TENANT AND ALL PERSONS CLAIMING UNDER TENANT, WHEREUPON, IF LANDLORD SO DESIRES,
A WRIT OF EXECUTION OR OF POSSESSION MAY ISSUE FORTHWITH, WITHOUT ANY PRIOR WRIT OF PROCEEDINGS, WHATSOEVER, AND PROVIDED THAT
IF FOR ANY REASON AFTER SUCH ACTION SHALL HAVE BEEN COMMENCED THE SAME SHALL BE DETERMINED AND THE POSSESSION OF THE PREMISES HEREBY
DEMISED REMAIN IN OR BE RESTORED TO TENANT, LANDLORD SHALL HAVE THE RIGHT UPON ANY SUBSEQUENT DEFAULT OR DEFAULTS, OR UPON THE
TERMINATION OF THIS LEASE AS HEREINBEFORE SET FORTH, TO BRING ONE OR MORE ACTION OR ACTIONS AS HEREINBEFORE SET FORTH TO RECOVER
POSSESSION OF THE SAID PREMISES.

 

In any action to confess judgment in ejectment
or for rent in arrears, Landlord shall first cause to be filed in such action an affidavit made by it or someone acting for it
setting forth the facts necessary to authorize the entry of judgment, of which facts such affidavit shall be conclusive evidence,
and if a true copy of this Lease (and of the truth of the copy such affidavit shall be sufficient evidence) be filed in such action,
it shall not be necessary to file the origins as a warrant of attorney, any rule of Court, custom or practice to the contrary notwithstanding.

 

    	 	21	 

     

    

 

__________ (INITIAL).
TENANT WAIVER. TENANT SPECIFICALLY ACKNOWLEDGES THAT TENANT HAS VOLUNTARILY, KNOWINGLY AND INTELLIGENTLY WAIVED CERTAIN DUE PROCESS
RIGHTS TO A PREJUDGMENT HEARING BY AGREEING TO THE TERMS OF THE FOREGOING PARAGRAPHS REGARDING CONFESSION OF JUDGMENT. TENANT FURTHER
SPECIFICALLY AGREES THAT IN THE EVENT OF DEFAULT, LANDLORD MAY PURSUE MULTIPLE REMEDIES INCLUDING OBTAINING POSSESSION PURSUANT
TO A JUDGMENT BY CONFESSION AND ALSO OBTAINING A MONEY JUDGMENT FOR PAST DUE AND ACCELERATED AMOUNTS AND EXECUTING UPON SUCH JUDGMENT.
IN SUCH EVENT AND SUBJECT TO THE TERMS SET FORTH HEREIN, LANDLORD SHALL PROVIDE FULL CREDIT TO TENANT FOR ANY MONTHLY CONSIDERATION
WHICH LANDLORD RECEIVES FOR THE LEASED PREMISES IN MITIGATION OF ANY OBLIGATION OF TENANT TO LANDLORD FOR THAT MONEY. FURTHERMORE,
TENANT SPECIFICALLY WAIVES ANY CLAIM AGAINST LANDLORD AND LANDLORD’S COUNSEL FOR VIOLATION OF TENANT’S CONSTITUTIONAL
RIGHTS IN THE EVENT THAT JUDGMENT IS CONFESSED PURSUANT TO THIS LEASE. TENANT SPECIFICALLY WAIVES AND DISCLAIMS SECTION 5601.3(b)
OF TITLE 20, CHAPTER 56 OF THE PENNSYLVANIA CONSOLIDATED STATUTES.

 

23.       NOTICES.
All notices permitted or required hereunder shall be in writing and (i) delivered personally, (ii) sent by U.S. certified mail,
postage prepaid, with return receipt requested, or (iii) sent overnight by nationally recognized overnight courier and sent to
the respective parties at the Notice Addresses provided in Section 1 of this Lease. If sent by U.S. certified mail, such notice
shall be considered received by the addressee on the second (2nd) business day after posting. If sent by nationally recognized
overnight courier, such notice shall be considered received by the addressee on the first (1st) business day after deposit with
the courier. Notices may be given by an agent on behalf of Landlord or Tenant. Any notice from Landlord to Tenant shall also be
deemed to have been given if delivered to the Premises, addressed to Tenant.

 

24.       EMINENT
DOMAIN. If during the Term (a) the whole of the Premises or the Building shall be taken by any governmental or other authority
having powers of eminent domain or conveyed to such entity under threat of the exercise of such power or (b) any part of the Premises
or the Building shall be so taken or conveyed and as a result, the remainder of the Premises or the Building has been rendered
impractical, in Landlord’s sole judgment, for the operation of Landlord’s rental activities on the Property, this Lease
shall terminate on the date of the taking or conveyance, and rent shall be apportioned to the date thereof. Tenant shall have no
right to any apportionment of or any share in any condemnation award or judgment for damages made for the taking or conveyance
of any part of the Premises or the Building. Tenant has the right to pursue its own condemnation award, claim or judgement through
separate proceedings for the loss of leasehold improvements paid for by Tenant, fixtures and relocation expenses so long as Tenant’s
award does not diminish or otherwise adversely affect Landlord’s award.

 

25.       QUIET ENJOYMENT. Landlord represents and warrants that it
has full right and authority to enter into this Lease and that Tenant, while paying the rental and performing its other covenants
and agreements contained in this Lease, shall peaceably and quietly have, hold and enjoy the Premises for the Term without hindrance
or molestation from Landlord subject to the terms and provisions of this Lease. “During the term of this Lease, Landlord
shall provide for the use of the Tenant along with the other tenants of the Building; (i) a conference room having a permitted
occupancy and seating for 120 persons; (ii) a conference room having a permitted occupancy and seating for 20-25 persons with moveable
tables and (iii) a fitness center with equipment and workout devices and that has a permitted occupancy of 10 persons.

 

    	 	22	 

     

    

 

25.       Landlord
shall not be liable for any interference or disturbance by other tenants or third persons, nor shall Tenant be released from any
of the obligations of this Lease because of such interference or disturbance.

 

26.       RULES
AND REGULATIONS. Tenant agrees to comply with (and cause its agents, contractors, employees and invitees to comply with) the
rules and regulations attached hereto as Exhibit B and with such reasonable modifications thereof and reasonable additions
thereto as Landlord may from time to time make. Landlord agrees to enforce the rules and regulations uniformly against all tenants
of the Property. Landlord shall not be liable, however, for any violation of said rules and regulations by other tenants or occupants
of the Building or Property.

 

27.       ENVIRONMENTAL.
“Environmental Laws” shall mean all federal, state and local laws (including, without limitation, case and common law),
statutes, regulations, rules, ordinances, guidance, permits, licenses, grants, orders, decrees and judgments relating to the environment,
human health and safety. “Hazardous Substances” shall mean all explosive materials, radioactive materials, hazardous
or toxic materials, wastes, chemicals or substances, petroleum, petroleum by-products and petroleum products (including, without
limitation, crude oil or any fraction thereof), asbestos and asbestos-containing materials, radon, lead, polychlorinated biphenyls,
mold, urea-formaldehyde, and all materials, wastes, chemicals and substances that are regulated by any Environmental Law; except
for a di minimis amount of standard office cleaning products for use in the Premises. Tenant shall not (i) manufacture, generate,
utilize, store, handle, treat, process, or release any Hazardous Substances at, in, under, from or on the Premises or Property
or (ii) suffer or permit to occur any violation of Environmental Laws with respect to the Premises or Property. Tenant shall indemnify,
defend (with counsel reasonably acceptable to Landlord and at Tenant’s sole cost) and hold harmless Landlord and its partners,
managers, members, officers, directors, employees, agents, successors, grantees, assigns and mortgagees from any and all claims,
demands, liabilities, damages, expenses, fees, costs, fines, penalties, suits, proceedings, actions, causes of action and losses
of any and every kind and nature, including, without limitation, diminution in value of the Property, damages for the loss or restriction
on use of the rentable or usable space or of any amenity, natural resource damages, damages arising from any adverse impact on
leasing space on the Premises or Property, and sums paid in settlement of claims and for attorney’s fees, consultant’s
fees and expert’s fees that may arise during or after the Term or any extension of the Term in connection with any breach
by Tenant of the covenants contained in this section, the presence, release or threatened release of Hazardous Substances at, in,
under, from, to or on the Premises or Property, or any violation or alleged violation of any Environmental Laws. For purposes of
this section, the term “costs” includes, without limitation, costs, expenses and consultant’s fees, expert’s
fees and attorney’s fees incurred in connection with any investigation of site conditions or any cleanup, remedial, removal,
restoration, monitoring or maintenance work. This covenant of indemnity shall survive the termination of this Lease. Notwithstanding
the foregoing, the prohibition contained herein shall not apply to ordinary office products that may contain de minimis quantities
of Hazardous Substances, provided such products are used in compliance with Environmental Laws; however, Tenant’s indemnification
obligations are not diminished with respect to the presence of such products. Tenant shall immediately notify Landlord of any release
or threatened release at, in, under, from, to or on the Premises or Property.

 

    	 	23	 

     

    

 

28.       FINANCIAL
STATEMENTS. From time to time, but not more often than once each year, Tenant shall furnish Landlord within ten (10) business
days of such request copies of financial statements showing Tenant’s current financial condition and the results of the previous
year’s operations which shall be certified as true and correct by the chief financial officer, or other responsible officer,
of Tenant.

 

29.       BROKERS.
Landlord utilized the services of Colliers International (the “Listing Broker”) and Tenant utilized the services of
Gola Corporate Real Estate (the “Non-Listing Broker”) in connection with this Lease. Tenant represents to Landlord
that Tenant did not involve any other brokers in procuring this Lease. Landlord shall pay a commission to the Non-Listing Broker
and the Listing Broker as is agreed to by the parties per a separate agreement. Tenant agrees to forever indemnify, defend and
hold Landlord harmless from and against any commissions, liability, loss, cost, damage or expense (including reasonable attorneys’
fees) that may be asserted against or incurred by Landlord by any broker other than the Listing Broker and Non-Listing Broker as
a result of any misrepresentation by Tenant hereunder.

 

30.       MISCELLANEOUS.

 

(A)       Time
is of the essence of this Lease and each of its provisions.

 

(B)       This
Lease and all covenants and agreements herein contained shall be binding upon, apply, and inure to the respective heirs, executors,
successors, administrators and assigns of all parties to this Lease; provided, however, that this Lease shall not inure to the
benefit of any assignee, heir, administrator, devisee, legal representative, successor, transferee or successor of Tenant except
upon the prior written consent of Landlord.

 

(C)       This
Lease contains the entire agreement of the parties, all other and prior representations, negotiations and agreements having been
merged herein and extinguished hereby. No modification, waiver or amendment of this Lease or of any of its conditions or provisions
shall be binding upon either party hereto unless in writing signed by both parties.

 

(D)       The
captions of sections and subsections of this Lease are for convenience only and shall not be deemed to limit, construe, affect
or alter the meaning of such sections or subsections.

 

(E)        Interpretation
of this Lease shall be governed by the laws of the state or commonwealth in which the Premises is located, without regard to conflict
of laws. Tenant and Landlord irrevocably submits to the nonexclusive jurisdiction of the courts of said state or commonwealth and
agrees that all suits, actions, claims or proceedings may be heard and determined in such courts. Tenant waives any objection which
it may have at any time to the laying of venue of any suit, action, claim or proceeding arising out of or relating to this Lease.
The foregoing shall not be deemed to preclude Landlord from bringing any suit, action, claim or proceeding in connection with this
Lease in any other jurisdiction.

 

(F)        This
Lease is and shall be deemed and construed to be the joint and collective work product of Landlord and Tenant and, as such, this
Lease shall not be construed against either party, as the otherwise purported drafter of same, by any court of competent jurisdiction
in order to resolve any inconsistency, ambiguity, vagueness or conflict, if any, in the terms or provisions contained herein.

 

    	 	24	 

     

    

 

(G)        In
the event that either party thereto shall be delayed or hindered in or prevented from the performance of any act required hereunder
by reason of strikes, lock-outs, labor troubles, inability to procure labor, inability to procure materials or equipment or reasonable
substitutes therefore, failure of power, fire or other casualty, restrictive government laws or regulations, judicial orders, enemy
or hostile government actions, riots, insurrection or other civil commotions, war or other reason of a like nature not at the fault
of the party delayed in performing any act as required under the terms of this Lease (“Force Majeure”), then performance
of such act shall be excused for the period of delay and the period for the performance of any such act shall be extended for a
period equivalent to the period of such delay. Force Majeure shall not operate to excuse Tenant from the prompt payment of Rent
or any other payments required under the terms of this Lease.

 

(H)       Tenant
shall reimburse Landlord as Additional Rent on demand for all reasonable out-of-pocket expenses, including without limitation legal,
engineering or other professional services or expenses incurred by Landlord in connection with any requests by Tenant for consents
or approvals hereunder.

 

(I)         A
final determination by a court of competent jurisdiction that any provision of this Lease is invalid shall not affect the validity
of any other provision, and any provision so determined to be invalid shall, to the extent possible, be construed to accomplish
its intended effect.

 

(J)         If
more than one person or entity shall ever be Tenant, the liability of each such person and entity shall be joint and several.

 

(K)       If
Tenant is a corporation, a limited liability company, an association or a partnership, it shall, concurrently with the signing
of this Lease, at Landlord’s option, furnish to Landlord certified copies of the resolutions of its board of directors (or
of the executive committee of its board of directors) or consent of its members or partners authorizing Tenant to enter into this
Lease. Moreover, each individual executing this Lease on behalf of Tenant represents and warrants that he or she is duly authorized
to execute and deliver this Lease and that Tenant is a duly organized corporation, limited liability company, association or partnership
under the laws of the state of its incorporation or formation, is qualified to do business in the jurisdiction in which the Building
is located, is in good standing under the laws of the state of its incorporation or formation and the laws of the jurisdiction
in which the Building is located, has the power and authority to enter into this Lease, and that all corporate or partnership action
requisite to authorize Tenant to enter into this Lease has been duly taken.

 

(L)        The
submission of this Lease to Tenant is not an offer to lease the Premises, or an agreement by Landlord to reserve the Premises for
Tenant. Landlord shall not be bound to Tenant until Tenant has duly executed and delivered an original Lease to Landlord and Landlord
has duly executed and delivered an original Lease to Tenant. Notwithstanding the Commencement Date or Commencement Date contemplated
in Section 1 hereof, this Lease shall take effect and be binding upon the parties hereto as of its execution and delivery.

 

(M)       This
Lease may be executed in any number of counterparts, and by different parties hereto on separate counterparts, each of which shall
be deemed an original, but all of which together shall constitute one and the same instrument. Any signature to this Lease transmitted
via facsimile (or other electronic means) shall be deemed an original signature and be binding upon the parties hereto.

 

    	 	25	 

     

    

 

(N)       Tenant
represents and warrants to Landlord that neither Tenant nor any of Tenant’s members, shareholders or other equity owners,
is a person or entity with whom U.S. persons or entities are restricted from doing business under regulations of the Office of
Foreign Asset Control (“OFAC”) of the Department of the Treasury (including those named on OFAC’s Specially Designated
and Blocked Persons List) or under any statute, executive order (including the September 24, 2001, Executive Order Blocking Property
and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism), or other governmental action.

 

31.       PARKING.
Tenant, its employees and visitors, shall be entitled to the non-exclusive use, on a first come-first serve basis, of parking areas
in the back lot designated by Landlord. Landlord shall supply a parking area having at least of 7 spaces per each 1,000 sq. feet
of the Building. Additionally, Tenant shall be entitled to exclusive use of: (i) twenty-five (25) parking spaces for delivery vehicles;
(ii) four (4) reserved parking spaces near the Tenant’s side entrance of the Building; and (iii) eight (8) reserved Tenant
visitor parking spaces near the front entrance of the Building, all as designated on the plans attached hereto as Exhibit F. Any
cost to designate such spaces for exclusive use by Tenant may be deducted by Landlord from the Tenant Improvement Allowance set
forth in the Work Letter attached hereto as Exhibit E. Landlord shall not be obligated to enforce parking limits. Tenant shall
not use any parking space designated by Landlord as visitor parking or as exclusive to other parties. If Tenant uses parking in
excess of that provided for herein, and if such excess use occurs on a regular basis, and if Tenant fails, after written notice
from Landlord of any one violation, to reduce its excess use of the parking areas, then such excess use shall constitute an Event
of Default under this Lease without further notice or opportunity to cure such Event of Default.

 

32.       SIGNAGE.
Subject to Landlord’s review and approval, Tenant, at Landlord’s expense, shall be entitled to Building standard suite
entry and directory signage. Landlord may specify that the design of such signage be similar to, or consistent with, the design
and location of other signs identifying tenants in the Building. Such signage shall be subject to all applicable laws and ordinances.
Upon termination of this Lease, Tenant shall remove such signage and repair any damage caused thereby.

 

33.       INTENTIONALLY
OMITTED.

 

    	 	26	 

     

    

 

34.       CERTAIN
RIGHTS RESERVED TO LANDLORD. Landlord reserves the following rights, each of which Landlord may exercise without notice or
liability to Tenant, and the exercise of any such rights shall not be deemed to constitute an eviction or disturbance of Tenant’s
use or possession of the Premises and shall not give rise to any claim for set-off or abatement of Rent or any other claim: (a)
to enter the Premises for the purposes of examining the same or to make repairs or alterations or to provide any service, except
that Landlord may not enter areas containing confidential information without an escort of Tenant’s selection except in cases
of emergency; (b) to change the arrangement and/or locations of entrances, or passageways, doors and doorways, and corridors, windows,
elevators, stairs, parking areas and any other common areas, (c) to change the name or street address of the Building or the suite
number of the Premises; (d) to install, affix and maintain any and all signs on the exterior or interior of the Building; (e) to
make repairs, decorations, alterations, additions or improvements, whether structural or otherwise, in, about and to the Building
or common areas and for such purposes temporarily close doors, corridors and other areas of the Building and interrupt or temporarily
suspend services or use of common areas; (f) to retain at all times, and to use in appropriate instances, keys to all doors within
and into the Premises; (g) to grant to any person or to reserve unto itself the exclusive right to conduct any business or render
any service in the Building; (h) to show the Premises at reasonable times and upon reasonable prior notice and, if vacated or abandoned,
to prepare the Premises for reoccupancy; (i) to install, use and maintain in and through the Premises pipes, conduits, wires and
ducts serving the Building; (j) to approve the weight, size and location of safes or other heavy equipment or other articles which
may be located in the Premises and to determine the time and manner in which such articles may be moved in, about or out of the
Building or Premises; and (k) to take any other action which Landlord deems reasonable in connection with the operation, maintenance,
marketing or preservation of the Premises or Building. The reduction or elimination of Tenant’s light, air or view shall
not affect Tenant’s liability under this Lease, nor shall it create any liability of Landlord to Tenant.

 

35.       LEASE
COMMENCEMENT/ACCEPTANCE OF PREMISES. At Landlord’s request, Landlord and Tenant shall enter into a commencement letter
agreement (the “Commencement Letter”) in form substantially similar to that attached hereto as Exhibit C. Tenant’s
failure to execute and return the Commencement Letter, or to provide written objection to the statements contained in the Commencement
Letter, within fifteen (15) days shall be deemed an approval by Tenant of the statements contained therein.

 

36.       WAIVER
OF RIGHT TO JURY TRIAL. LANDLORD AND TENANT WAIVE THEIR RESPECTIVE RIGHTS TO A TRIAL BY JURY OF ANY CLAIM, ACTION, PROCEEDING
OR COUNTERCLAIM BY EITHER PARTY AGAINST THE OTHER ON ANY MATTERS ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS LEASE, THE RELATIONSHIP
OF LANDLORD AND TENANT, AND/OR TENANT’S USE OR OCCUPANCY OF THE PREMISES OR BUILDING (INCLUDING ANY CLAIM OF INJURY OR DAMAGE
OR THE ENFORCEMENT OF ANY REMEDY UNDER ANY CURRENT OR FUTURE LAWS, STATUTES, REGULATIONS, CODES OR ORDINANCES).

 

37.       RECORDING.
Tenant shall not record this Lease without the prior written consent of Landlord. Tenant, upon the request of Landlord, shall execute
and acknowledge a short form memorandum of this Lease for recording purposes.

 

[signatures on following page]

 

    	 	27	 

     

    

  

IN WITNESS WHEREOF, the parties hereto
have executed this Lease.

 

	LANDLORD:	 	TENANT:
	 	 	 
	BROOKWOOD PHILADEPHIA I, LLC,	 	JETPAY HR & PAYROLL SERVICES, INC.,
	a Delaware limited liability company	 	a Delaware corporation
	 	 	 
	By: 	/s/ Kurt M. Zernich	 	By:	/s/ Michael J. Pires
	Name:	Kurt M. Zernich	 	Name:	 Michael J. Pires
	Its:	Authorized Signature	 	Its:	 President
	 	 	 
	BROOKWOOD PHILADEPHIA II, LLC,	 	 
	a Delaware limited liability company	 	 
	 	 	 
	By: 	/s/ Kurt M. Zernich	 	 
	Name:	Kurt M. Zernich	 	 
	Its:	Authorized Signature	 	 

 

TENANT NOTARY

 

STATE OF                PA)

 

COUNTY OF      Lehigh) 

 

I, the undersigned authority, a Notary Public
in and for said county in said state, hereby certify that Michael J. Pires, whose name is signed to the foregoing instrument
on behalf of JETPAY HR & PAYROLL SERVICES, INC. and who is known to me, acknowledged before me on this day that, being informed
of the contents of said instrument,<he/she> executed the same voluntarily on behalf of JETPAY HR & PAYROLL SERVICES,
INC. on the day the same bears date.

 

Given under my hand and official seal this
the 20th day of October, 2017.

 

	 	/s/ Lisa J. Sell
	 	Notary Public

 

AFFIX SEAL

 

My commission expires: 8/26/2019

 

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EXHIBIT A

 

THE PREMISES

 

[See attached]

 

    	 	29	 

     

    

 

 

    	 	30	 

     

    

 

EXHIBIT B

 

RULES AND REGULATIONS

 

1.          The
water and wash closets and other plumbing fixtures shall not be used for any purposes other than those for which they were constructed,
and no sweepings, rubbish, rags or other substances (including, without limitation, coffee grounds) shall be thrown therein. All
damages resulting from misuse of the fixtures shall be borne by Tenant if Tenant or its servants, employees, agents, visitors or
licensees shall have caused the same.

 

2.          No
cooking (except for hot-plate and microwave cooking by Tenants’ employees for their own consumption, the location and equipment
of which is first approved by Landlord), sleeping or lodging shall be permitted by any tenant on the Premises. No tenant shall
cause or permit any unusual or objectionable odors to be produced upon or permeate from the Premises.

 

3.          Except
as otherwise provided in the Lease, no inflammable, combustible, or explosive fluid, material, chemical or substance shall be brought
or kept upon, in or about the Premises. Fire protection devices, in and about the Building, shall not be obstructed or encumbered
in any way.

 

4.          Canvassing,
soliciting and peddling at the Property is prohibited and each tenant shall cooperate to prevent the same.

 

5.          There
shall not be used in any space, or in the public halls of the Building, either by any tenant or by its agents, contractors, jobbers
or others, in the delivery or receipt of merchandise, freight, or other matters, any hand trucks or other means of conveyance except
those equipped with rubber tires, rubber side guards, and such other safeguards as Landlord may require, and Tenant shall be responsible
to Landlord for any loss or damage resulting from any deliveries to Tenant in the Building. Deliveries of mail, freight or bulky
packages shall be made through the freight entrance or through doors specified by Landlord for such purpose.

 

6.          Mats,
trash or other objects shall not be placed in the public corridors. The sidewalks, entries, passages, elevators, public corridors
and staircases and other parts of the Building which are not occupied by Tenant shall not be obstructed or used for any other purpose
than ingress or egress.

 

7.          Tenant
shall not install or permit the installation of any awnings, shades, draperies and/or other similar window coverings, treatments
or like items visible from the exterior of the Premises other than those approved by the Landlord in writing.

 

8.          No
vehicles or materials shall be permitted to block any sidewalks, driveways, loading docks or any other common area nor shall any
vehicle be parked in the parking lot for longer than is necessary for the customary business purposes of Tenant. Landlord shall
have the right, but not the obligation, to remove any vehicles and dispose of any materials, debris, or other items in violation
of this section and such removal or disposal shall be at the sole risk of Tenant and Tenant shall pay the cost therefor to Landlord
as Additional Rent upon demand.

 

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9.          Tenant
shall not allow any signs, cards or placards to be posted, or placed within the Premises such that they are visible outside of
the Premises except as specifically provided for in this Lease.

 

10.        Tenant
shall not construct, maintain, use or operate within said Premises or elsewhere in the Building or on the outside of the Building,
any equipment or machinery which produces music, sound or noise which is audible beyond the Premises.

 

11.        Bicycles,
motor scooters or any other type of vehicle shall not be brought into the lobby or elevators of the Building or into the Premises
except for those vehicles which are used by a physically disabled person in the Premises.

 

12.        All
blinds for exterior windows shall be building standard and shall be maintained by Tenant.

 

13.        No
additional locks shall be placed upon doors to or within the Premises except as shall be necessary adequately to safeguard the
payroll and other confidential data of the Tenant and its customers and United States Government security classified documents
stored with the Premises. The doors leading to the corridors or main hall shall be kept closed during business hours, except as
the same may be used for ingress or egress. If Landlord provides a proximity card or key for the entry doors, Landlord may make
a reasonable charge for such proximity cards or keys, and replacements. Tenant, upon termination of it tenancy, shall deliver to
the Landlord all keys of offices, rooms and toilet rooms which have been furnished Tenant or which the Tenant shall have had made,
and in the event of loss of any keys so furnished shall pay Landlord therefore.

 

14.        Landlord
reserves the right to temporarily shut down the air conditioning, electrical systems, heating, plumbing and/or elevators when necessary
by reason of accident or emergency, or for repair, alterations, replacements or improvement.

 

15.        No
carpet, rug or other article shall be hung or shaken out of any window of the Building and Tenant shall not sweep or throw or permit
to be swept or thrown from the Premises any dirt or other substances into any of the corridors or halls, elevator, or out of the
doors or windows or stairways of the Building. Tenant shall not use, keep or permit to be used or kept any foul or noxious gas
or substance in the Premises, or permit or suffer the Premises to be occupied or used in a manner offensive or objectionable to
Landlord or other occupants of the Building by reason of noise, odors and/or vibrations, or interfere in any way with other tenants
or those having business therein, nor shall any animals or birds be kept in or about the Building. Smoking or carrying lighted
cigars or cigarettes in the elevators of the Building is prohibited.

 

16.        Landlord
shall not restrict access to the Building on weekdays, or weekends, or holidays during the period from 6:30 AM to 10:00 PM except
in cases or emergency. Reasonable access to the Premises for Tenant’s employees and customers shall be accorded at all times.
Tenant shall be responsible for all persons for whom it requests access and shall be liable to Landlord for all acts of such persons.

 

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17.        Tenant
agrees to keep all windows closed at all times and to abide by all rules and regulations issued by Landlord with respect to the
Building’s air conditioning and ventilation systems.

 

18.        Tenant
shall not conduct or give notice of any auction, liquidation, or going out of business sale in the Premises.

 

19.        In
the event it becomes necessary for the Landlord to gain access to the underfloor electric and telephone distribution system for
purposes of adding or removing wiring, then upon request by Landlord, Tenant agrees to temporarily remove the carpet over the access
covers to the underfloor ducts for such period of time until work to be performed has been completed. The cost of such work shall
be borne by Landlord except to the extent such work was requested by or is intended to benefit Tenant or the Premises, in which
case the cost shall be borne by Tenant.

 

20.        Violation
of these rules, or any amendments thereof or additions thereto, may be considered a default of Tenant’s lease and shall be
sufficient cause for termination of the Lease pursuant to the provisions of the Lease at the option of Landlord.

 

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EXHIBIT C

 

COMMENCEMENT LETTER

 

___________, 20___

 

___________________

___________________

___________________

 

RE:        Lease dated
________, between _____________, a ________ (“Landlord”) and ______________, a __________ (“Tenant”) concerning
______________.

 

In accordance with
the above-referenced Lease, we request that you and/or the proper authority, please confirm the following statements:

 

1.          The
Commencement Date is deemed to be ______________ and the Expiration Date is ______________.

 

2.          Tenant
acknowledges and agrees that as of the date of this letter (i) all improvements required by the Lease to be performed by Landlord
to the Premises have been completed; and (ii) Tenant has accepted the Premises in its current condition, except for ________________________________________.

 

Please confirm your
agreement with the above terms of this letter by signing below and returning a copy to Landlord. Failure to execute this letter
and deliver the same to Landlord shall be conclusive evidence against Tenant that the above statements are accurate and true.

 

Sincerely,

 

	By:	 	 
	Name:	 	 
	Its:	 	 

 

AGREED TO & ACCEPTED BY:

 

	 	 	 
	By:	 	 
	Name:	 	 
	Its:	 	 

 

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EXHIBIT D

 

ADDITIONAL STIPULATIONS

 

This extension option is a part of
the Lease dated October __, 2017 by and between BROOKWOOD PHILADELPHIA I, LLC, a Delaware limited liability company, and
BROOKWOOD PHILADELPHIA II, LLC, a Delaware limited liability company, as tenants in common (“Landlord) and JETPAY HR
& PAYROLL SERVICES, INC., a Delaware corporation (“Tenant”) concerning Suite 170 located at 7450 Tilghman
Street, Allentown, Pennsylvania.

 

EXTENSION OPTION. So long as there exists no default
either at the time of exercise or on the first day of the Extension Term (as hereinafter defined) and Tenant has not assigned this
Lease in whole or in part nor sublet the Premises in whole or in part, Tenant shall have the option to extend the Term for two
(2) additional five (5) year periods (each an “Extension Term”) upon written notice to Landlord given not less than
nine (9) months and not more than twelve (12) months prior to the expiration of the then current Term. If Tenant fails to exercise
its option to extend the Term strictly within the time period set forth in this section, then Tenant’s option(s) to extend
the Term shall automatically lapse and be of no further force or effect. In the event that Tenant exercises the option(s) granted
hereunder, the applicable Extension Term shall be upon the same terms and conditions as are in effect under this Lease immediately
preceding the commencement of such Extension Term, except that the Base Rent due from the Tenant shall be increased to Landlord’s
determination of Base Rent as provided herein, and Tenant shall have no further right or option to extend the Term beyond the two
(2) Extension Terms provided herein or to any abatements, improvement allowance or other inducements. If Tenant timely exercises
its applicable option to extend the Term, then no later than thirty (30) days following receipt of Tenant’s notice, Landlord
shall notify Tenant in writing of Landlord’s determination of the Base Rent for such Extension Term (“Landlord’s
Rental Notice”). If Tenant does not object to Landlord’s determination of the Base Rent by written notice to Landlord
within ten (10) days after the date of Landlord’s Rental Notice, then Tenant shall be deemed to have accepted the Base Rent
set forth in Landlord’s Rental Notice. If Tenant does timely object to Landlord’s determination of Base Rent for the
Extension Term, the parties shall use commercially reasonable efforts to agree upon the Base Rent for such Extension Term, provided,
however, if the parties cannot agree upon the Base Rent within thirty (30) days after Landlord receives Tenant’s notice of
objection, then the Term shall not be extended and Tenant’s rights under this section shall terminate and be of no further
force or effect.

 

For the purposes of
this section, Base Rent for the Extension Term shall reflect Landlord’s reasonable determination of the fair market rental
rate that would be agreed upon between a landlord and a tenant for a comparable term and for space comparable to the Premises in
the Building and buildings comparable to the Building in the market area. Such determination of fair market rental rate may take
into account any material economic differences between the terms of this Lease and any comparison lease, such as the manner, if
any, in which the landlord under any such lease is reimbursed for operating expenses and taxes. The determination of fair market
rental rate may also take into consideration any reasonably anticipated changes in rental conditions from the time such fair market
rental rate is being determined and the date upon which the Extension Term shall begin. Notwithstanding the foregoing, in no event
shall the Base Rent for any Extension Term be less than the Base Rent paid by Tenant during the last month of the then current
Term.

 

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RIGHT OF FIRST OFFER. Provided that (i) Tenant is not
then in default under the Lease beyond the expiration of notice, cure and grace periods, and no condition exists which, with the
giving of notice or passage of time or both, would constitute an Event of Default hereunder, (ii) the Lease is then in full force
and effect, (iii) the Tenant named herein has not assigned the Lease or sublet any part of the Premises and is then in actual occupancy
of the entire Premises demised hereunder, and (iv) Tenant’s financial condition meets the financial criteria Landlord requires
for the lease of such space, if, at any time during the Term, any space located within the Building is or will be “available
for lease” and Landlord desires to lease such space, Landlord shall notify Tenant. Landlord’s notice shall identify
the space available (the "Offered Space"), set forth the terms and conditions on which it is willing to lease the Offered
Space, which terms and conditions may include a term whose expiration date is not coterminous with the Term applicable to the Premises,
and the date on which such Offered Space is expected to be available (collectively, the “Terms”). Tenant shall thereupon
have a one-time right and option to lease the Offered Space on the Terms by delivering notice to Landlord within ten (10) days
after receipt of Landlord’s notice, time being of the essence. If Tenant elects to lease the Offered Space, it shall, within
thirty (30) days after such election, enter into an amendment to the Lease on a form prepared by Landlord incorporating the Offered
Space as part of the Premises subject to the Terms. If Tenant shall not elect to lease the Offered Space within such 10- day period,
or fails to enter into such an amendment to the Lease within such 30-day period, then Tenant shall have no further rights under
this section. Space shall not be deemed to be "available for lease" if such space is the subject of any option or commitment
now or hereafter held by another tenant or the renewal or extension of an expiring lease with a then existing tenant or if such
space is vacant as of the date hereof then such space shall not be deemed to be “available for lease” until after the
date upon which such space shall have been initially leased to a third party and thereafter becomes vacant. Landlord shall not
be liable to Tenant for any failure to deliver such space as a result of any holdover tenant or other occupant of any Offered Space.

 

FAÇADE SIGNAGE. Upon Landlord’s
written approval of the location, material, size, design and content thereof, Tenant may, at its sole cost and expense, install
a sign on the exterior of the Building (“Tenant’s Exterior Building Signage”). Tenant’s Exterior Building
Signage shall contain only Tenant’s name and no advertising material, shall be in accordance with all applicable laws, and
shall be installed by a contractor or other party which meets with Landlord’s prior approval. Tenant shall be solely responsible
for obtaining any necessary permits or governmental approvals required for Tenant’s Exterior Building Signage, shall remove
Tenant’s Exterior Building Signage upon the expiration or earlier termination of this Lease, and shall reimburse Landlord
for the cost of repairing any damage caused thereby. Tenant acknowledges and agrees that Landlord shall have the right, from time
to time (but not more frequently than once in any twelve month period), to adopt new reasonable sign criteria governing the Building,
and that, in connection therewith, Tenant, at Tenant’s sole cost and expense, shall cause Tenant’s Exterior Building
Signage to be aesthetically compatible to any such newly adopted sign criteria. At its expense, Tenant will maintain Tenant’s
Exterior Building Signage in good condition and repair and if Tenant fails to do so, Landlord may remove Tenant’s Exterior
Building Signage at Tenant’s expense upon twenty (20) days prior notice.

 

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TERMINATION OPTION. So long as there exists no default
either at the time of exercise or on the Early Termination Date (as hereinafter defined), the Tenant named herein has not assigned
any portion of this Lease nor sublet any portion of the Premises, Tenant shall have the option to terminate this Lease (the “Termination
Right”) effective as of the first day of the eighty-fifth month of the Term (the “Early Termination Date”) upon
not less than twelve (12) months prior written notice to Landlord. In order to be effective, such notice must be accompanied by
a termination payment equal to (i) the unamortized balance of Landlord’s “Lease Costs” (as hereinafter defined)
plus (ii) three (3) months’ Rent at the rate payable as of the Early Termination Date. If Tenant fails to exercise the Termination
Right strictly in accordance with this section, then the Termination Right shall automatically lapse and Tenant shall have no right
to terminate this Lease. Upon timely exercise of the Termination Right in compliance with the terms hereof, the Early Termination
Date shall be deemed the Expiration Date and Tenant shall surrender the Premises on or before the Early Termination Date in accordance
with the terms of this Lease. For the purposes hereof, “Lease Costs” shall be the cost of all brokerage commissions,
rental abatements, and Tenant allowances, plus interest on the foregoing items accruing from the Rent Commencement Date at the
rate of eight percent (8%) per annum. For purposes of determining the unamortized balance of Lease Costs, Lease Costs shall be
amortized on a straight line basis over the Initial Term. Within sixty (60) days after substantial completion of Landlord’s
Work, Landlord shall provide a detailed breakdown of the Lease Costs and an amortization schedule for the same, provided that any
delay in delivery of such breakdown shall not have any impact on the obligation of Tenant to pay such amounts as provided in this
paragraph.

 

GENERATOR. Tenant may locate one (1) back-up generator
(“Tenant’s Generator”) in a location adjacent to the Premises. The type, size and exact location of Tenant’s
Generator shall be subject to Landlord’s prior approval, which shall not be unreasonably withheld, conditioned, or delayed.
It is anticipated that Tenant’s Generator shall be located in the location identified on Exhibit F attached hereto as Generator
Location, and Landlord hereby approves the location of Tenant’s Generator within such location. Tenant shall maintain Tenant’s
Generator at Tenant’s sole cost in good working order, condition and repair. Tenant’s Generator shall be maintained
at the sole risk of Tenant and shall be subject to applicable law and such reasonable rules and regulations from time to time provided
by Landlord. Upon Landlord’s request, Tenant shall promptly relocate, temporarily or permanently, Tenant’s Generator.
Landlord shall reimburse Tenant for the reasonable out of pocket cost of relocating Tenant’s Generator if such relocation
is performed at the request of Landlord. Tenant’s Generator shall not interfere with the use and operation of the Building.
To the extent that Tenant’s Generator shares facilities with any Building system, Tenant shall pay the incremental costs
of such facilities in excess of the costs that Landlord would incur but for such sharing within thirty (30) days of Landlord’s
demand. Upon Landlord’s request, Tenant shall provide sound and visual screening of Tenant’s Generator reasonably acceptable
to Landlord and shall secure and protect, to the extent necessary in Landlord’s determination, Tenant’s Generator from
vehicular traffic. Tenant shall be required to remove Tenant’s Generator upon expiration or sooner termination of this Lease
and repair all damage resulting from such removal and restore any damage caused thereby. Tenant agrees that Tenant’s Generator
shall only be used for back up purposes in the event of disruption of Tenant’s primary power source.

 

    	 	37	 

     

    

 

MOVING ALLOWANCE. Landlord shall
reimburse Tenant in an amount up to, but not in excess of $121,345.00, being $5.00 per useable square foot of the Premises (the
“Moving Allowance”), for the out of pocket costs paid by Tenant for cabling, new furniture, fixtures and equipment
and the moving of Tenant’s existing furniture, equipment, other personal property, from Tenant’s current location to
the Premises (“Tenant’s Moving Costs”). All Tenant’s Moving Costs shall first be paid by Tenant and then
reimbursed by Landlord as follows: subsequent to the Commencement Date and the completion of Tenant’s move, and provided
there shall be no existing Event of Default under this Lease, Landlord shall reimburse Tenant for the Tenant’s Moving Costs
up to the Moving Allowance within thirty (30) days after Landlord receives Tenant’s bill therefor accompanied by invoices
evidencing the amount of Tenant’s Moving Costs and showing that such amounts have been paid in full. There shall be no credit
given to Tenant for any unused portion of the Moving Allowance.

 

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EXHIBIT E

 

WORK LETTER

 

1.          Landlord’s
Work. Landlord will make certain improvements to the Premises (the “Landlord’s Work”) as set forth on that
certain space plan and scope of work (collectively, the “Plans”) attached hereto as Schedule 1 and previously
approved by Tenant. Should said Plans or any part of Landlord’s Work require the preparation or development of additional
plans or specifications, then Tenant shall have three (3) business days from Landlord’s submission of such additional plans
or specifications to Tenant to approve or disapprove the same. Tenant’s failure to so approve or disapprove within such three
(3) business day period shall constitute a Tenant Delay (as defined herein) and, at Landlord’s election, be deemed Tenant’s
approval thereof. Tenant’s disapproval of such plans and specifications shall specifically identify the nature of such disapproval.
Landlord shall then have such plans and specifications amended to incorporate those items specified in Tenant’s disapproval
to which Landlord agrees. Tenant’s approval of such plans and specifications shall not be unreasonably withheld, conditioned
or delayed. Landlord and Tenant shall diligently work together in good faith to agree upon such plans and specifications, it being
agreed that Tenant shall have no right to request that such plans and specifications be revised to reflect any work which is not
contemplated on Schedule 1 attached hereto except pursuant to Section 5 below. Upon approval, or deemed approval, of such additional
plans and specifications the same shall be deemed the “Plans” for the purposes of this Work Letter. Except as may be
otherwise shown on the Plans, Landlord shall perform Landlord’s Work using new building standard materials, quantities and
procedures then in use by Landlord.

 

2.          Substantial
Completion.

 

a.           “Substantial
Completion” or “Substantially Complete” means that Landlord’s Work has been sufficiently completed such
that the Premises is suitable for its intended purpose, notwithstanding any minor or insubstantial details of construction, decoration
or mechanical adjustment that remain to be performed and which can be performed without materially adversely interfering with Tenant’s
ability to move into or effectively use the entire Premises. Landlord will use commercially reasonable efforts to Substantially
Complete Landlord’s Work on or before February 26, 2018 provided this Lease is fully executed and delivered by both parties
no later than October 20, 2017 with final approved plans and specifications for Landlord’s Work attached hereto as Schedule
1.

 

b.           If
there is a delay in the Substantial Completion of the Landlord’s Work for any reason neither Landlord, nor the managing or
leasing agent of the Building, nor any of their respective agents, partners or employees, shall have any liability to Tenant in
connection with such delay, nor shall the Lease be affected in any way, except that (i) the Commencement Date shall not occur until
Landlord’s Work is Substantially Complete and (ii) if Landlord is unable to Substantially Complete Landlord’s Work
on or before March 12, 2018 (the “Rent Credit Date”), subject to delays caused by Force Majeure (as defined in the
Lease) and Tenant Delay (as defined below), the Tenant shall be entitled to one (1) day of credit against the Base Rent payable
hereunder for each day such delay continues beyond March 12, 2018 until Landlord has Substantially Completed Landlord’s Work.
Notwithstanding the foregoing or any language of the Lease to the contrary, if Landlord’s Work is delayed by a Tenant Delay
(as defined below) then Tenant shall begin paying Rent as required under the Lease as of the date the Commencement Date would have
occurred but for such Tenant Delay.

 

    	 	39	 

     

    

 

c.           Landlord
shall provide Tenant with Landlord’s best estimate of the date of Substantial Completion at least five (5) business days
prior to the date Landlord estimates that Substantial Completion will be achieved. At such point, if in Landlord’s reasonable
judgment, Landlord’s Work has proceeded to such point where Tenant may install furniture, fixtures and equipment (“Tenant’s
Work”) within the Premises without interfering with the performance of the Landlord’s Work (which date shall be no
later than ten (10) days prior to the estimated date of Substantial Completion only with respect to the “Printer Room”
identified on the Plans), Landlord shall so notify Tenant and, from and after such date of notification, Tenant and its contractors
shall have access to the Premises for the purposes of performing work (the “Tenant Work”) in preparation for Tenant’s
occupancy of the Premises. In connection with such access, Tenant agrees (a) to cease promptly upon notice from Landlord any Tenant
Work which has not been approved by Landlord or is not in compliance with the provisions of this Lease or which shall interfere
with or delay the performance of Landlord’s Work, and (b) to comply promptly with all reasonable procedures and regulations
prescribed by Landlord from time to time for coordinating the Landlord’s Work the Tenant Work, each with the other and with
any other activity or work in the Building, including, without limitation, the use of labor which shall work in harmony with all
other contractors performing work at the Building. Such access by Tenant shall be deemed to be subject to all of the applicable
provisions of the Lease, except that (x) there shall be no obligation on the part of Tenant solely because of such access to pay
any Rent prior to the Rent Commencement Date, and (y) Tenant shall not be deemed thereby to have taken or accepted possession of
the Premises or any portion thereof. If Tenant fails or refuses to comply or cause its contractors to comply with any of the obligations
described or referred to above, then immediately upon notice to Tenant, Landlord may revoke Tenant’s rights of access to
the Premises. Landlord shall assume no responsibility for the quality or completion of the Tenant Work under this Section, and
shall not be responsible for equipment or supplies left or stored on the Premises by Tenant or Tenant’s contractors.

 

3.          Allowance.
Landlord shall provide Tenant with a tenant improvement allowance in an amount not greater than Nine Hundred Twenty-Two Thousand
Two Hundred Twenty-Two and 00/100 Dollars ($922,222.00) (the “Allowance”) to be applied to the cost to perform Landlord’s
Work. A four percent (4%) construction project management fee based upon the total cost of Landlord’s Work shall be paid
to Landlord out of the Allowance. Landlord shall pay the aggregate cost of Landlord’s Work up to an amount not to exceed
the Allowance and Tenant shall pay the excess of the aggregate cost of the Landlord’s Work over the Allowance (the “Excess”).
If Landlord estimates at any time or from time to time that there will be an Excess, Landlord shall notify Tenant in writing of
Landlord’s good faith estimate of the amount thereof, which estimate shall be itemized in reasonable detail. Tenant shall
pay Landlord’s good faith estimate of the Excess billed by Landlord within thirty (30) days after it receives Landlord’s
bill therefor. In the event Tenant fails to timely pay any such good faith estimate of the Excess, such failure shall be deemed
a Tenant Delay and Landlord shall be entitled to suspend the performance of Landlord’s Work until such time as such payment
is received by Landlord. If the aggregate total cost of Landlord’s Work performed pursuant to this Work Letter is less than
the Allowance, then Tenant may use any unused portion of the Allowance toward Tenant’s moving expenses from its existing
location to the Premises and toward the cost of Tenant’s furniture, fixtures and equipment to be utilized by Tenant at the
Premises and Tenant may use up to $40,448.33 of any unused portion of the Allowance toward the next installment of Base Rent due
hereunder. Any other remaining portion of the Allowance shall be retained by Landlord.

 

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4.          Tenant
Delay. In addition to any occurrence defined elsewhere in the Lease or in this Work Letter as Tenant Delay, “Tenant Delay”
means the occurrence of any one or more of the following which cause an actual delay in the completion of Landlord’s Work:
(i) Tenant is Delinquent (as hereafter defined) in submitting to Landlord any information, authorization or approvals requested
by Landlord in connection with the performance of Landlord’s Work; (ii) the performance or completion of any work or activity
by a party employed by Tenant, including any of Tenant’s employees, agents, contractors, subcontractors and materialmen;
(iii) any postponements or delays requested by Tenant and agreed to by Landlord regarding the completion of the Landlord’s
Work; (iv) any error in Landlord’s Work caused or related to any act or omission by Tenant or its employees or agents; (v)
the performance of any TI Changes (as defined below); (vi) any failure of Tenant to timely review and/or approve the Plans in accordance
with this Work Letter; or (viii) any other act or omission of the Tenant which causes a delay in the completion of Landlord’s
Work. For the purposes of this Section, the term “Delinquent” shall mean that the action or communication required
of Tenant is not taken within five (5) days following request by Landlord.

 

5.          Changes
to Landlord’s Work. Tenant will have no right to make any changes (“TI Changes”) to the Plans or Landlord’s
Work without the prior written consent of Landlord and the execution by Landlord and Tenant of a written change order which specifies
(i) the nature of the TI Changes; (ii) an estimate of the cost to Tenant as a result of such TI Changes; and (iii) any Tenant Delay
that will result from such TI Change. Tenant shall be solely responsible for the costs of all TI Changes and Tenant shall pay such
costs as Additional Rent upon demand.

 

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Schedule 1

 

[See attached]

 

    	 	42	 

     

    

 

 

JetPay

Finish Selections 

October 19, 2017

 

Flooring

 

Carpet 1 - Carpet Tile

Manufacturer: Shaw Contract

Series: #5T079 Field Tile

Color: #78675 Landscape

Location: Open Areas

Installation: Quarter Turn

 

Carpet 2 - Carpet Tile

Manufacturer: Shaw Contract

Series: #5T078 Realm

Color: #78675 Landscape

Location: Open Areas

Installation: In groups of 4 accent tiles/quarter
turn

 

Carpet 3 - Carpet Tile

Manufacturer: Shaw Contract

Series: #5T079 Field Tile

Color: #78761 Area

Location: Offices, All conference except boardroom

Installation Methods:

-Offices: Monolithic

-Conference Rooms: Quarter Turn

 

Carpet 4-Carpet Tile

Manufacturer: Shaw Contract

Series: #5T080 Scape

Color: #78761 Area

Location: Boardroom Installation: Monolithic

 

Luxury Vinyl Plank

Manufacturer: Shaw Hard Surface

Series: #0502V Grain Direct Glue Down

Color: #64155 Ashen

Location: Reception, Boardroom Perimeter, BreakRoom,
Executive Bathroom

 

Vinyl Composition Tile

Manufacturer: Armstrong

Series: Imperial Texture Standard Excelon

Color: #51927 Field Gray

Location: Packaging Area, Storage

 

    	 	43	 

     

    

 

 

Static Dissipative Tile

Manufacturer: Armstrong

Color: #51956 Fossil Gray

Location: Print Room, Splitter
Room

 

Vinyl Base 1 - Cove Base

Manufacturer: Johnsonite

Color: #264 Grounded

Location: All carpeted Areas

 

Vinyl Base 2 - Cove Base

Manufacturer: Johnsonite

Color: #281 Grizzly

Location: All Area with Vinyl Comp. Tile/Static Diss.
Tile

 

Vinyl Base 3- Millwork Base
System

Manufacturer: Johnsonite

Series: Reveal 4.25" High base

Color: #MW-281 Grizzly

Location: All areas with Luxury Vinyl Floor, President
Office/Bathroon

 

Wall Finishes

 

Paint 1 - Sherwin Williams

Color: #SW7070 Site White

Location: General color and Door trim unless other
wise noted

 

Paint 2 - Sherwin Williams

Color: #SW7017 Dorian Gray

Location: Back wall at BreakRoom, One wall in each
office

 

Paint 3 - Sherwin Williams

Color: #SW6885 Knockout Orange

Location: Behind Copy Counters

 

Paint 4 - Sherwin Williams

Color: #SW6767 Aquarium

Locations: Behind TV walls at Conference Rooms/Boardroom

 

    	 	44	 

     

    

 

 

Vinyl Wall Covering 1

Manufacturer: Eykon

Series: Fabrications

Color: #A151-022

Location: Wall behind reception desk

 

Vinyl Wall Covering 2

Manufacturer: Eykon

Series: Lombard

Color: #A132-011

Location: All walls in boardroom except walls with
TV's (opposite door)

 

Millwork Finishes

 

SS-1 - Manufactured Stone

Manufacturer: Quartz Cambria

Color: New Quay

Location: Reception Desk Transaction Counters, Boardroom
Counter top

 

SS-2 - Solid Surface

Manufacturer: Corian

Color: Concrete

Location: Breakroom/Coffee Counter tops

 

Plam 1 - Plastic Laminate

Manufacturer: Wilsonart

Color: #7966K-12 5th Ave Elm

Location: Reception Desk fronts & Boardroom/Coffee
cabinets

 

Plam 2 - Plastic Laminate

Manufacturer: Wilsonart

Color: #D91-60 Slate Grey

Location: reception Desk Fronts/back

 

Plam 3 - Plastic Laminate

Manufacturer: Wilsonart Color: D96-60 Shadow

Location: Worksurfaces and any other interior desk
locations

 

Plam 4- Plastic Laminate

Manufacturer: Wilsonart

Color: #Y0356-60 Sea Berry

Location: Breakroom Base Cabinets

 

    	 	45	 

     

    

 

 

Plam 5 - Plastic Laminate

Manufacturer: Wilsoanrt

Color: #7976K-12 White Cypress

Location: Break Room Upper cabinets

 

Plam 6 - Plastic Laminate

Manufacturer: Wilsonart

Color: #Y0338-60 Marmalade

Location: Copy Area base cabinets

 

Plam 7 - Plastic Laminate

Manufacturer: Wilsonart

Color: #4810-60 Titanium EV

Location: Copy Area counter tops

 

Decorative Pendant

Manufacturer: Kichler

Series: Everly Lighting Collection

Color: Brushed Chrome Finish/Seeded Glass

Location: Above Reception Desk

 

    	 	46	 

     

    

 

 

    	 	47	 

     

    

 

 

    	 	48	 

     

    

 

EXHIBIT F

 

PARKING PLANS AND GENERATOR LOCATION

 

 

    	 	49	 

     

    

 

 

    	 	50at_EX10_40

		
			Exhibit 10.40
		

		
			 
		

		
			Execution Version
		

		
			 
		

		
			SECOND AMENDMENT
		

		
			TO CREDIT AND GUARANTY AGREEMENT
		

		
			 
		

		
			THIS SECOND AMENDMENT TO CREDIT AND GUARANTY AGREEMENT (this “Amendment”) is dated as of October 18, 2017 and is entered into by and among APLP HOLDINGS LIMITED PARTNERSHIP, a limited partnership formed under the laws of the Province of Ontario, Canada (the “Borrower”), by its general partner, ATLANTIC POWER GP II INC., a corporation organized under the laws of the Province of British Columbia, Canada (in such capacity, the “General Partner”), ATLANTIC POWER CORPORATION, a corporation organized under the laws of the Province of British Columbia, Canada (the “Sponsor”), GOLDMAN SACHS LENDING PARTNERS LLC (“Goldman Sachs”), as Administrative Agent (“Administrative Agent”), acting with the consent of the Requisite Lenders and, for purposes of Section VIII hereof, the GUARANTORS listed on the signature pages hereto, and is made with reference to that certain CREDIT AND GUARANTY AGREEMENT dated as of April 13, 2016, as amended by that certain First Amendment to Credit and Guaranty Agreement, dated as of April 17, 2017 (and as further amended through the date hereof, the “Credit Agreement”) by and among the Borrower, by its General Partner, the Sponsor and the subsidiaries of the Borrower named therein, as Guarantors, the Lenders and L/C Issuers party thereto from time to time, the Administrative Agent and the Collateral Agent. Capitalized terms used herein without definition shall have the same meanings herein as set forth in the Credit Agreement after giving effect to this Amendment.
		

		
			 
		

		
			RECITALS
		

		
			 
		

		
			WHEREAS, the Credit Parties have requested that the Requisite Lenders agree to amend certain provisions of the Credit Agreement as provided for herein;
		

		
			 
		

		
			WHEREAS, subject to the conditions set forth herein, each Lender that has delivered their counterpart signature of this Amendment to the Administrative Agent in accordance with instructions given to the Lenders for delivery of such signatures hereby agrees to such amendment relating to the Credit Agreement as hereinafter set forth;
		

		
			 
		

		
			WHEREAS, each Term Loan Lender under the Credit Agreement immediately prior to the Second Amendment Effective Date (collectively, the “Existing Term Loan Lenders”) that executes and delivers a consent to this Amendment in the form of the “Term Loan Lender Consent” attached hereto as Annex I (a “Term Loan Lender Consent”) and selects Option A thereunder (the “Continuing Term Loan Lenders”) hereby agrees to the terms and conditions  of this Amendment;
		

		
			 
		

		
			WHEREAS, each Existing Term Loan Lender that executes and delivers a Term Loan Lender Consent and selects Option B thereunder (the “Cash Roll Term Loan Lenders” and, together with the Continuing Term Loan Lenders, the “Consenting Term Loan Lenders”) hereby agrees to the terms and conditions of this Amendment and agrees that it shall execute, or shall be deemed to have executed, a counterpart of the Master Assignment and Assumption Agreement substantially in the form attached hereto as Annex III (a “Master Assignment”) and shall in accordance therewith sell all of its existing Term Loans as specified in the applicable Master Assignment and commits to repurchase a like amount of the repriced Term Loans via
		

		
			
		

		
			

		 

		

			1

		

 

		

		
			assignment post-closing, as further set forth in this Amendment;
		

		
			 
		

		
			WHEREAS, each Existing Term Loan Lender that fails to execute and return a Term Loan Lender Consent by 12:00 p.m. (New York City time), on October 6, 2017 (the “Consent Deadline”) (each, a “Non-Consenting Term Loan Lender”) shall, in accordance with   Section 2.24 of the Credit Agreement, assign and delegate, without recourse (in accordance with  Section 10.6 of the Credit Agreement), all of its interests, rights and obligations under the Credit Agreement and the related Credit Documents in respect of its existing Term Loans to an assignee that shall assume such obligations as specified in the applicable Master Assignment and Assumption Agreement substantially in the form attached hereto as Annex III (a “Master Assignment”), as further set forth in this Amendment;
		

		
			 
		

		
			WHEREAS, each Revolving Lender holding Revolving Loans immediately prior to the Second Amendment Effective Date (the “Existing Revolving Loans”) or unused Revolving Commitments immediately prior to the Second Amendment Effective Date (the “Existing Revolving Commitments” and, such Revolving Lenders holding such Existing Revolving  Loans or Existing Revolving Commitments, the “Existing Revolving Lenders” and, together with the Existing Term Loan Lenders, the “Existing Lenders”) that executes and delivers a consent to this Amendment in the form of the “Revolving Lender Consent” attached hereto as Annex II (a “Revolving Lender Consent”, and the Revolving Lender Consents together with the Term Loan Lender Consents, the “Lender Consents”) (collectively, the “Consenting Revolving Lenders” and, together with the Consenting Term Loan Lenders, the “Consenting Lenders”) will, by the fact of such execution and delivery, be deemed to have consented to the terms of this Amendment;
		

		
			 
		

		
			WHEREAS, each Existing Revolving Lender that fails to execute and return a  Revolving Lender Consent by the Consent Deadline (each, a “Non-Consenting Revolving Lender”) shall, in accordance with Section 2.24 of the Credit Agreement, assign and delegate, without recourse (in accordance with Section 10.6 of the Credit Agreement), all of its interests, rights and obligations under the Credit Agreement and the related Credit Documents in respect of its Existing Revolving Loans and Existing Revolving Commitments to an assignee that shall assume such obligations as specified in the applicable Master Assignment, as further set forth in this Amendment; and
		

		
			 
		

		
			WHEREAS, each Credit Party party hereto (collectively, the “Reaffirming Parties”,  and each, a “Reaffirming Party”) expects to realize substantial direct and indirect benefits as a result of this Amendment becoming effective and the consummation of the transactions contemplated hereby and agrees to reaffirm its obligations pursuant to the Credit Agreement, the Collateral Documents, and the other Credit Documents to which it is a party.
		

		
			 
		

		
			NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
		

		
			 
		

		
			SECTION I.    AMENDMENTS TO CREDIT AGREEMENT.
		

		
			 
		

		
			1.1        Amendments to Section 1: Definitions.
		

		
			 
		

		
			
		

		
			

		 

		

			2

		

 

		

		
			A.     Section 1.1 of the Credit Agreement is hereby amended by adding the following definitions in proper alphabetical sequence:
		

		
			 
		

		
			“Second Amendment” means that certain Second  Amendment Agreement to Credit and Guaranty Agreement dated as of October 18, 2017 among the Borrower, by its General Partner, the Administrative Agent, the Lenders and the Guarantors listed on the signature pages thereto.
		

		
			 
		

		
			“Second Amendment Effective Date” means the date of satisfaction of the conditions referred to in Section III of the Second Amendment.
		

		
			 
		

		
			“Extension Amendment Effective Date” means the date of satisfaction of the conditions referred to in Section IV of the Second Amendment.
		

		
			 
		

		
			B.     Section 1.1 of the Credit Agreement is hereby amended by amending and restating the definition of “Applicable Margin” as follows:
		

		
			 
		

		
			“Applicable Margin” means (a) prior to the Second Amendment  Effective Date, (1) with respect to Revolving Loans that are Eurodollar Rate Loans and Letter of Credit Fees, 4.25% per annum and with respect to Revolving Loans that are Base Rate Loans or Canadian Prime Rate Loans, 3.25% per annum and (2) with respect to Term Loans that are Eurodollar Rate Loans, 4.25% per annum and with respect to Term Loans that are Base Rate Loans, 3.25% per annum, and (b) from and after the Second Amendment Effective Date, (1) with respect to Revolving Loans that are Eurodollar Rate Loans and Letter of Credit Fees, 3.50% per annum and with respect to Revolving Loans that are Base Rate Loans or Canadian Prime Rate Loans, 2.50% per annum and (2) with respect to Term Loans that are Eurodollar Rate Loans, 3.50% per annum and with respect to Term Loans that are Base Rate Loans, 2.50% per annum.
		

		
			 
		

		
			C.     Section 1.1 of the Credit Agreement is hereby amended by amending and restating the definition of “Revolving Commitment Termination Date” as follows (such amendment the “Extension Amendment”):
		

		
			 
		

		
			“Revolving Commitment Termination Date” means, (A) prior to the Extension Amendment Effective Date, the earlier of (i) the fifth anniversary of the Effective Date, as extended pursuant to Section 2.25, if applicable; (ii) the date the Revolving Commitments are permanently reduced to zero pursuant to Section 2.14(b) or 2.15; and (iii) the date of the termination of the Revolving Commitments pursuant to Section 8.1, and (B) upon and after the Extension Amendment Effective Date, the earlier of (i) the sixth anniversary of the Effective Date, as extended pursuant to Section 2.25, if applicable; (ii) the date the Revolving Commitments are permanently reduced to zero pursuant to  Section 2.14(b) or 2.15; and (iii) the date of the termination of the Revolving Commitments pursuant to Section 8.1.
		

		
			
		

		
			

		 

		

			3

		

 

		

		
			1.2        Amendments to Section 2.14.
		

		
			 
		

		
			Section 2.14(c) of the Credit Agreement is hereby amended by replacing the phrase “the date that is six (6) months after the First Amendment Effective Date (provided that the reduction in the interest rate as implemented by the First Amendment shall not be considered a Repricing Transaction)” therein with the phrase “the date that is six (6) months after the Second Amendment Effective Date (provided that the reduction in the interest rate as implemented by  the Second Amendment shall not be considered a Repricing Transaction)” in each of such places it appears in such Section (such amendment, along with the Amendments in Sections 1.1(A) and Sections 1.1(B) above, the “Repricing Amendments”).
		

		
			 
		

		
			SECTION II.      CONTINUATION OF EXISTING LOANS; NON-CONSENTING LENDERS; OTHER TERMS AND AGREEMENTS.
		

		
			 
		

		
			2.1        Continuing Lenders. Each Existing Term Loan Lender selecting Option A on  the Term Loan Lender Consent hereby consents and agrees to this Amendment. Each Existing Revolving Lender executing and delivering a Revolving Lender Consent hereby consents and agrees to this Amendment.
		

		
			 
		

		
			2.2        Cash Roll Term Loan Lenders. Each Existing Term Loan Lender hereto selecting Option B on the Term Loan Lender Consent hereby consents and agrees (subject to the effectiveness of the assignment referred to in the following clause (ii)) to (i) this Amendment, (ii) sell the entire principal amount of its existing Term Loans via an assignment on the Second Amendment Effective Date pursuant to a Master Assignment and (iii) commit to repurchase a like amount of the repriced Term Loans via an assignment after the Second Amendment Effective Date. By executing a Term Loan Lender Consent and selecting Option B, each Cash Roll Term Loan Lender shall be deemed to have executed a counterpart to the applicable Master Assignment to give effect, solely upon the consent and acceptance by the Replacement Lender,  to the assignment described in clause (ii) of the immediately preceding sentence.
		

		
			 
		

		
			2.3        Non-Consenting Term Loan Lenders. The Borrower hereby gives notice to each Non-Consenting Term Loan Lender that, upon receipt of Lender Consents from the  Existing Lenders constituting the Requisite Lenders and Lenders holding more than 50% of the aggregate outstanding principal amount of the Term Loans immediately prior to the Second Amendment Effective Date, if such Non-Consenting Term Loan Lender has not executed and delivered a Term Loan Lender Consent on or prior to the Consent Deadline, such Non- Consenting Term Loan Lender shall, pursuant to Section 2.24 of the Credit Agreement, execute within one (1) Business Day after the Second Amendment Effective Date or be deemed to have executed a counterpart of the applicable Master Assignment and shall in accordance therewith sell its Existing Terms Loans as specified in the Master Assignment. Pursuant to the Master Assignment, each Non-Consenting Term Loan Lender shall sell and assign the principal amount of its Existing Term Loans as set forth in Schedule I to the Master Assignment, as such Schedule is completed by the Administrative Agent on or prior to the Second Amendment Effective Date, to Goldman Sachs, as assignee (in such capacity the “Replacement Lender”) under such Master Assignment, solely upon the consent and acceptance by the Replacement Lender. The Replacement Lender shall be deemed to have consented to this Amendment with respect to such purchased Term Loans at the time of such assignment.
		

		
			
		

		
			

		 

		

			4

		

 

		

		
			2.4        Non-Consenting Revolving Lenders. The Borrower hereby gives notice to each Non-Consenting Revolving Lender that, upon receipt of Lender Consents from the Existing Lenders constituting the Requisite Lenders and Lenders holding more than 50% of the aggregate amount of the Revolving Commitments immediately prior to the Second Amendment Effective Date, if such Non-Consenting Revolving Lender has not executed and delivered a Revolving Lender Consent on or prior to the Consent Deadline, such Non-Consenting Revolving Lender shall, pursuant to Section 2.24 of the Credit Agreement, execute within one (1) Business Day after the Second Amendment Effective Date or be deemed to have executed a counterpart of the applicable Master Assignment and shall in accordance therewith sell its Existing Revolving Loans and Existing Revolving Commitments as specified in the Master Assignment. Pursuant to the Master Assignment, each Non-Consenting Revolving Lender shall sell and assign the principal amount of its Existing Revolving Loans and Existing Revolving Commitments as set forth in Schedule I to the Master Assignment, as such Schedule is completed by the Administrative Agent on or prior to the Second Amendment Effective Date, to the Replacement Lender under such Master Assignment, solely upon the consent and acceptance by the Replacement Lender. The Replacement Lender shall be deemed to have consented to this Amendment with respect to such purchased Revolving Loans and Revolving Commitments at  the time of such assignment.
		

		
			 
		

		
			SECTION III.     CONDITIONS TO EFFECTIVENESS.
		

		
			 
		

		
			The Repricing Amendments shall become effective as of the date hereof only upon the satisfaction of all of the following conditions precedent (the date of satisfaction of such conditions being referred to herein as the “Second Amendment Effective Date”):
		

		
			 
		

		
			A.      Execution. Administrative Agent shall have received a counterpart signature page of this Amendment duly executed by (i) each of the Credit Parties and the General Partner and (ii) the Lenders under the Credit Agreement consisting of at least the Requisite Lenders.
		

		
			 
		

		
			B.      Fees; Interest.
		

		
			 
		

		
			(a)       The Administrative Agent shall have received (i) all fees, costs, expenses and other amounts due and payable on or prior to the Second Amendment Effective Date, including, to the extent invoiced, reimbursement or other payment of all out-of-pocket expenses required to be reimbursed or paid by the Borrower hereunder or any other  Credit Document and (ii) for the account of each Lender, all interest accrued but unpaid on all existing Loans through the Second Amendment Effective Date.
		

		
			 
		

		
			(b)       The Arrangers, as Repricing Arrangers (as defined below), shall have each received all fees due and payable under that certain engagement letter, dated as  of October 2, 2017, by and among the Sponsor and the Arrangers (the “Second  Amendment Engagement Letter”), and the fee letters between the Sponsor and each Arranger, dated as of October 2, 2017, respectively.
		

		
			 
		

		
			C.      Legal Opinions. The Administrative Agent shall have received a favorable opinion of (a) Norton Rose Fulbright US LLP, New York, Delaware and California special counsel to the Credit Parties and (b) Goodmans LLP, Burnet, Duckworth & Palmer LLP and MLT Atkins LLP,
		

		
			
		

		
			

		 

		

			5

		

 

		

		
			local Canadian counsel to the Credit Parties, in each case in form and substance satisfactory to the Administrative Agent.
		

		
			 
		

		
			D.      Second Amendment Effective Date Certificate. The Administrative Agent shall have received a certificate signed by a Responsible Officer of the Borrower as to the matters set forth in paragraphs (F) and (G) of this Section III.
		

		
			 
		

		
			E.      Organizational Documents; Incumbency. The Administrative Agent shall have received, in respect of each Credit Party and the General Partner, a certificate dated as of the Second Amendment Effective Date of the secretary or an assistant secretary or director (or such other officer reasonably acceptable to the Administrative Agent) of such party, in form and substance reasonably satisfactory to the Administrative Agent, certifying (i) that either (A) attached thereto is a true and complete and up to date copy of the Organizational Documents including any certificate on change of name and all amendments thereto of such Credit Party or the General Partner, as applicable, certified as of a recent date by the Secretary of State (or comparable Governmental Authority) of its jurisdiction of organization (where applicable), and that the same has not been amended since the date of such certification or (B) the Organizational Documents of such Credit Party or the General Partner, as applicable, delivered on the Effective Date to the Administrative Agent have not been amended and are in full force and effect; (ii) that either (A) attached thereto is a true and complete copy of the bylaws or comparable governing documents of such Credit Party or the General Partner, as applicable, as then in effect and as in effect at all times without amendment of supersession from the date on which the resolutions referred to in clause (iii) below were adopted to and including the date of such certificate or (B) that the bylaws or comparable governing documents of such Credit Party or the General Partner, as applicable, delivered on the Effective Date to the Administrative Agent have not been amended and are in full force and effect; (iii) that attached thereto is a true and complete copy of resolutions of the board of directors or similar governing body of such Credit Party (or, in the case of a limited partnership, of the general partner, acting on behalf of such limited partnership) and the General Partner, acting in its own capacity, approving and, to the extent required in any jurisdiction, resolutions of the meeting of shareholders of a Credit Party (or, in the case of a limited partnership, of the general partner, acting on behalf of such limited partnership) and the General Partner, acting in its own capacity, in each case, authorizing the execution, delivery and performance of this Amendment and any related Credit Documents to which it is a party which are in full force and effect without amendment or supersession as of the date of the certificate; (iv) a good standing certificate (to the extent such concept is known in the relevant jurisdiction) from the applicable Governmental Authority of such Credit Party’s or the General Partner’s, as applicable, jurisdiction of incorporation, organization or formation dated the Second Amendment Effective Date or a recent date prior thereto; and (v) as to the incumbency and genuineness of the signature of each officer, director or other comparable authorized manager or attorney of such Credit Party or the General Partner, as applicable, executing this Amendment or any of such  other Credit Documents, and attaching all such copies of the documents described above.
		

		
			 
		

		
			F.      No Default. No Default or Event of Default has occurred and is continuing both before and immediately after giving effect to the transactions contemplated hereby.
		

		
			 
		

		
			G.      Representations and Warranties. The representations and warranties of the Borrower and each of the Guarantors set forth in Section V of this Amendment are true and correct.
		

		
			
		

		
			

		 

		

			6

		

 

		

		
			H.      Master Assignment. The Replacement Lender shall have executed and delivered the Master Assignment contemplated by Section II above and all conditions to the consummation of the assignments in accordance with Section II above shall have been satisfied and such assignments shall have been consummated.
		

		
			 
		

		
			I.       Non-Consenting Lenders. The Borrower shall  have, substantially concurrently  with the effectiveness of this Amendment, paid to all Non-Consenting Term Loan Lenders and Non-Consenting Revolving Lenders all indemnities, fees, cost reimbursements and other Obligations (other than interest payable under Section III.B. above and principal and all other amounts paid to such Non-Consenting Term Loan Lender or Non-Consenting Revolving Lender under Section II above), if any, then due and owing to such Non-Consenting Term Loan Lenders and Non-Consenting Revolving Lenders under the Credit Agreement and the other Credit Documents (immediately prior to the Second Amendment Effective Date).
		

		
			 
		

		
			J.      Necessary Consents. Each Credit Party shall have obtained all material consents necessary or advisable in connection with the transactions contemplated by this Amendment.
		

		
			 
		

		
			SECTION IV.     CONDITIONS TO EXTENSION AMENDMENT EFFECTIVENESS
		

		
			 
		

		
			The Extension Amendment shall become effective only upon the satisfaction of all of the following conditions precedent (the date of satisfaction of such conditions being referred to herein as the “Extension Amendment Effective Date”):
		

		
			 
		

		
			A.  Fees. Each Consenting Revolving Lender shall have received a fee in an amount equal to 0.125% of such Consenting Revolving Lender’s Revolving Exposure that such Consenting Revolving Lender has agreed to extend.
		

		
			 
		

		
			B.  Revolving Lender Consent. Each of those certain Revolving Lenders specifically identified to the Administrative Agent and the Borrower prior to the date hereof shall have confirmed in writing satisfactory to the Administrative Agent that it consents to the Extension Amendment.
		

		
			 
		

		
			C.  No Default. No Default or Event of Default has occurred and is continuing both before and immediately after giving effect to the transactions contemplated by the Extension Amendment.
		

		
			 
		

		
			D.  Representations and Warranties. The representations and warranties of the Borrower and each of the Guarantors set forth in Section V of this Amendment are true and correct.
		

		
			 
		

		
			E.  Extension Amendment Effective Date Certificate. The Administrative Agent shall have received a certificate signed by a Responsible Officer of the Borrower as to the matters set forth in paragraphs (C) and (D) of this Section IV.
		

		
			
		

		
			

		 

		

			7

		

 

		

		
			SECTION V.     REPRESENTATIONS AND WARRANTIES.
		

		
			 
		

		
			In order to induce the other parties hereto to enter into this Amendment and to amend the Credit Agreement in the manner provided herein, each Credit Party represents and warrants to each of the Lenders and the Administrative Agent that, as of the Second Amendment Effective Date and Extension Amendment Effective Date, as applicable):
		

		
			 
		

		
			A.      Corporate Power and Authority. Each Credit Party, which is party hereto, has all requisite power and authority to enter into this Amendment and to carry out the transactions contemplated by, and perform its obligations under, the Credit Agreement as amended by this Amendment (the “Amended Agreement”) and the other Credit Documents.
		

		
			 
		

		
			B.      Authorization of Agreements. The execution and delivery of this Amendment and the performance of the Amended Agreement and the other Credit Documents have been duly authorized by all necessary action on the part of each Credit Party.
		

		
			 
		

		
			C.      No Conflict. The execution and delivery by each Credit Party of this Amendment and the performance by each Credit Party of the Amended Agreement and the other Credit Documents do not and will not (i) violate (A) any provision of any law, statute, rule or  regulation, or of the certificate or articles of incorporation or partnership agreement, other constitutive documents or by-laws of Holdings, the Borrower or any Credit Party or (B) any applicable order of any court or any rule, regulation or order of any Governmental Authority, (ii) be in conflict with, result in a breach of or constitute (alone or with notice or lapse of time or both) a default under any Contractual Obligation of the applicable Credit Party, where any such conflict, violation, breach or default referred to in clause (i) or (ii) of this Section V.C., individually or in the aggregate could reasonably be expected to have a Material Adverse  Effect, (iii) except as permitted under the Amended Agreement, result in or require the creation or imposition of any Lien upon any of the properties or assets of each Credit Party (other than any Liens created under any of the Credit Documents in favor of Administrative Agent on behalf of Lenders), or (iv) require any approval of stockholders or partners or any approval or consent of any Person under any Contractual Obligation of each Credit Party, except for such approvals or consents which will be obtained on or before the Second Amendment Effective Date and except for any such approvals or consents the failure of which to obtain will not have a Material Adverse Effect.
		

		
			 
		

		
			D.      Governmental Consents. No action, consent or approval of, registration or filing with or any other action by any Governmental Authority is or will be required in connection with the execution and delivery by each Credit Party of this Amendment and the performance by the Borrower and Holdings of the Amended Agreement and the other Credit Documents, except for such actions, consents and approvals the failure to obtain or make which could not reasonably be expected to result in a Material Adverse Effect or which have been obtained and are in full force and effect.
		

		
			 
		

		
			E.      Binding Obligation. This Amendment and the Amended Agreement have been  duly executed and delivered by each of the Credit Parties party thereto and each constitutes a legal, valid and binding obligation of such Credit Party to the extent a party thereto, enforceable against such Credit Party in accordance with its terms, except as enforceability may be limited by
		

		
			
		

		
			

		 

		

			8

		

 

		

		
			bankruptcy, insolvency, moratorium, reorganization or other similar laws affecting creditors’ rights generally and except as enforceability may be limited by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).
		

		
			 
		

		
			F.      Incorporation of Representations and Warranties from Credit Agreement. The representations and warranties (a) contained in Section 4 of the Amended Agreement (other than Section 4.24) are and will be true and correct in all material respects on and as of the Second Amendment Effective Date and the Extension Amendment Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true and correct in all material respects on and as of such earlier date and (b) contained in Section 4.24 of the Amended Agreement are and will be true and correct in all material respects on and as of the Second Amendment Effective Date and the Extension Amendment Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties (x) specifically relate to an earlier date, in which case they were true and correct in all material respects on and as of such earlier date, or (y) have been updated, modified, supplemented or otherwise superseded by information contained in the most recent Form 10-K and Form 10-Q  and any Form 8-K (to the extent such Form 8-K was filed on or after the date of the most recent Form 10-Q) filed by the Sponsor with the Securities and Exchange Commission, in which case they were true and correct in all material respects on and as of the date of the most recent Form 10-K and Form 10-Q and any such Form 8-K and will be true and correct in all material respects on and as of the Second Amendment Effective Date and the Extension Amendment Effective Date to the same extent as though made on and as of that date; provided that, in each case, such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof.
		

		
			 
		

		
			G.      Absence of Default. No event has occurred and is continuing or will result from  the consummation of the transactions contemplated by this Amendment that would constitute an Event of Default or a Default.
		

		
			 
		

		
			SECTION VI.      BORROWER’S CONSENT.
		

		
			 
		

		
			For purposes of Section 10.6 of the Credit Agreement, the Borrower hereby consents to any assignee of the Replacement Lender or any of its respective Affiliates (in each case otherwise being an Eligible Assignee) becoming a Term Loan Lender and/or Revolving Lender, as applicable, in connection with the syndication of the Term Loans and Revolving Commitments acquired by the Replacement Lender pursuant to Section II hereof.
		

		
			 
		

		
			SECTION VII.      REPRICING ARRANGERS.
		

		
			 
		

		
			The Credit Parties and the Lenders party hereto agree that (a) the Arrangers, in their respective capacity as joint lead arranger with respect to this Amendment (collectively, the “Repricing Arrangers”), shall be entitled to the privileges, indemnification, immunities and other benefits afforded to the Arrangers under the Amended Agreement and (b) except as otherwise agreed to in writing by the Borrower, the General Partner and the Repricing Arrangers, the Repricing Arrangers  shall  have  no duties,  responsibilities or liabilities  with  respect  to this
		

		
			
		

		
			

		 

		

			9

		

 

		

		
			Amendment, the Amended Agreement or any other Credit Document.
		

		
			 
		

		
			SECTION VIII.     INDEMNIFICATION.
		

		
			 
		

		
			Each Credit Party hereby confirms that the indemnification provisions set forth in Section 10.3 of the Amended Agreement shall apply to this Amendment and the transactions contemplated hereby.
		

		
			 
		

		
			SECTION IX.       REAFFIRMATION.
		

		
			 
		

		
			Each of the Reaffirming Parties, as party to the Credit Agreement and certain of the Collateral Documents and the other Credit Documents, in each case as amended, supplemented  or otherwise modified from time to time, hereby (i) acknowledges and agrees that all of its obligations under the Credit Agreement, the Collateral Documents and the other Credit Documents to which it is a party are reaffirmed and remain in full force and effect on a continuous basis, (ii) reaffirms (A) each Lien granted by it to the Administrative Agent for the benefit of the Secured Parties and (B) any guaranties made by it pursuant to the Credit Agreement, (iii) acknowledges and agrees that the grants of security interests by it contained in any Collateral Document to which it is a party shall remain, in full force and effect after giving effect to this Amendment, and (iv) agrees that the Obligations include, among other things and without limitation, the prompt and complete payment and performance by the Borrower when due and payable (whether at the stated maturity, by acceleration or otherwise) of principal and interest on, and premium (if any) on, the Term Loans under the Amended Agreement. Nothing contained in this Amendment shall be construed as substitution or novation of the obligations outstanding under the Credit Agreement or the other Credit Documents, which shall remain in full force and effect, except to any extent modified hereby
		

		
			 
		

		
			Each Guarantor acknowledges and agrees that (i) notwithstanding the conditions to effectiveness set forth in this Amendment, such Guarantor is not required by the terms of the Credit Agreement or any other Credit Document to consent to the amendments to the Credit Agreement effected pursuant to this Amendment and (ii) nothing in the Credit Agreement, this Amendment or any other Credit Document shall be deemed to require the consent of such Guarantor to any future amendments to the Credit Agreement.
		

		
			 
		

		
			SECTION X.      ADMINISTRATIVE AGENT.
		

		
			 
		

		
			The Credit Parties acknowledge and agree that Goldman Sachs, in its capacity as administrative agent under the Credit Agreement, will serve as Administrative Agent under this Amendment and under the Amended Agreement.
		

		
			 
		

		
			SECTION XI.     MISCELLANEOUS.
		

		
			 
		

		
			A.      Reference to and Effect on the Credit Agreement and the Other Credit Documents.
		

		
			 
		

		
			(i)      On and after the Second Amendment Effective Date, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import referring to the Credit Agreement, and each reference in   the
		

		
			
		

		
			

		 

		

			10

		

 

		

		
			other Credit Documents to the “Credit Agreement”, “thereunder”, “thereof” 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.
		

		
			 
		

		
			(ii)       Except as specifically amended by this Amendment, the Credit Agreement and the other Credit Documents shall remain in full force and effect and are hereby ratified and confirmed.
		

		
			 
		

		
			(iii)      The execution, delivery and performance of this Amendment shall not constitute a waiver of any provision of, or operate as a waiver of any right, power or remedy of any Agent or Lender under, the Credit Agreement or any of the other Credit Documents.
		

		
			 
		

		
			(iv)      This Amendment shall be deemed to be a Credit Document as defined in the Credit Agreement.
		

		
			 
		

		
			B.      Headings.  Section and Subsection headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose or be given any substantive effect.
		

		
			 
		

		
			C.      Applicable Law. THIS AMENDMENT AND THE RIGHTS AND OB- LIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THEREOF THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK.
		

		
			 
		

		
			D.      Jurisdiction; Waiver of Jury Trial.  The provisions of Sections 10.15 and 10.16  of the Credit Agreement pertaining to consent to jurisdiction, service of process, and waiver of jury trial are hereby incorporated by reference herein, mutatis mutandis.
		

		
			 
		

		
			E.      Counterparts.  This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument; signature pages may be detached from multiple separate counterparts and attached to a single counterpart so that all signature pages are physically attached to the same document. Delivery of an executed counterpart of a signature page of this Amendment by facsimile or in electronic format (e.g., “pdf” or “tif” file format) shall be effective as delivery of  a manually executed counterpart of this Amendment.
		

		
			 
		

		
			F.      Severability.  Any term or provision of this Amendment which is invalid or unenforceable in any jurisdiction shall, as to that jurisdiction, be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining terms  and provisions of this Amendment or affecting the validity or enforceability of any of the terms or provisions of this Amendment in any other jurisdiction.  If any provision of this Amendment  is so broad as to be unenforceable, the provision shall be interpreted to be only so broad as would be enforceable.
		

		
			 
		

		
			 
		

		
			

		 

		

			11

		

 

		

		
			ANNEX III TO SECOND AMENDMENT
		

		
			 
		

		
			FORM OF MASTER ASSIGNMENT AND ASSUMPTION AGREEMENT
		

		
			 
		

		
			This Assignment and Assumption Agreement (this “Master Assignment”) is dated as of the Effective Date set forth below and is entered into by and between each Assignor identified in Section 1 below (each, an “Assignor”) and Goldman Sachs Lending Partners LLC (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given to  them in the Credit Agreement identified below (as it may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, 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 as if set forth herein in full.
		

		
			 
		

		
			For an agreed consideration, each Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes from the applicable 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 applicable Assignor’s rights and obligations in its capacity as a Term Loan Lender and/or Revolving Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest of all of the applicable Assignor’s outstanding rights and obligations under the respective facilities identified opposite such Assignor’s name on Schedule I hereto (including, without limitation, any letters of credit, guaranties, and swingline loans 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 applicable Assignor (in its capacity as a Term Loan Lender and/or Revolving 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, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned by the applicable Assignor to the Assignee pursuant to clauses (i) and (ii) above being referred to herein collectively as the “Assigned Interest”). Such sale and assignment is without recourse to any Assignor and, except as expressly provided in this Assignment, without representation or warranty by any Assignor.
		

		
			 
		

		
			By purchasing the Assigned Interest, the Assignee agrees that, for purposes of that certain Second Amendment to Credit and Guaranty Agreement, dated as of October 18, 2017 (the “Second Amendment”), by and among the Borrower, by its General Partner, the Sponsor and certain subsidiaries of the Borrower, as Guarantors, the Requisite Lenders, the Replacement Lender and the Consenting Lenders referred to therein and the Administrative Agent, it shall be deemed to have consented and agreed to the Second Amendment.
		

		
			
		

		

		 

		

			ANNEX III-1

		

 

	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						1.

					
					
						Assignor:

					
					
						Each person identified on Schedule I hereto

				
	
					
						 

					
					
						Assignee:

					
					
						GOLDMAN SACHS LENDING PARTNERS LLC

				
	
					
						3.

					
					
						Borrower:

					
					
						APLP HOLDINGS LIMITED PARTNERSHIP

				
	
					
						4.

					
					
						Administrative Agent:

					
					
						GOLDMAN  SACHS  LENDING  PARTNERS  LLC,  as  the administrative agent under the Credit Agreement

				
	
					
						5.

					
					
						Credit Agreement:

					
					
						The Credit and Guaranty Agreement, dated as of April 13, 2016, as amended by that certain First Amendment to Credit and Guaranty Agreement, dated as of April 17, 2017 (as it may be further amended, restated, extended, supplemented or otherwise modified from time to time; the terms defined therein and not otherwise defined herein being used herein as therein defined), by and among the Borrower, by its General Partner, ATLANTIC POWER GP II INC., ATLANTIC POWER CORPORATION (“Sponsor”) and certain subsidiaries of Borrower, as Guarantors, the Lenders party thereto from time to time, GOLDMAN SACHS  BANK USA and BANK OF AMERICA, N.A. (“Bank of America”),  as  L/C Issuers, GOLDMAN SACHS LENDING PARTNERS LLC (“Goldman Sachs”) and Bank of America, as Joint Syndication Agents, Goldman Sachs as Administrative Agent (together with its permitted successors in such capacity, “Administrative Agent”) and as Collateral Agent (together with its permitted successors in such capacity, “Collateral Agent”), Goldman Sachs, MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,  RBC CAPITAL MARKETS,  THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., a member  of MUFG, a global financial group, WELLS FARGO SECURITIES, LLC, and INDUSTRIAL AND COMMERCIAL  BANK OF CHINA  LIMITED,  NEW YORK BRANCH, in their respective capacities as Arrangers and Bookrunners.

				
	
					
						6.

					
					
						Assigned Interests:

					
					
						As indicated on Schedule I hereto.

				

		
			 
		

		
			 
		

		
			Effective Date:   October 18, 2017
		

		
			
		

		
			

		 

		

			ANNEX III-2

		

 

		

		
			ANNEX 1
		

		
			 
		

		
			STANDARD TERMS AND CONDITIONS FOR MASTER ASSIGNMENT AND ASSUMPTION AGREEMENT
		

		
			 
		

		
			1.          Representations and Warranties.
		

		
			 
		

		
			1.1        Assignor. Each 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, (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and to consummate the transactions contemplated hereby and (iv) it  is  not  a  Defaulting  Lender;  and  (b) assumes  no  responsibility with  respect to (i) any statements, warranties or representations made in or in connection with  any Credit Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Credit Agreement or any other instrument or document delivered pursuant thereto, other than this Assignment (herein collectively the “Credit 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 Credit 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 Credit Document.
		

		
			 
		

		
			1.2        Assignee. 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 to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it meets all requirements of an Eligible Assignee under the Credit Agreement, (iii) from and after the Effective Date of the assignment, it shall be bound by the provisions of the Credit Agreement 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, and has received or has been accorded the opportunity to receive copies of the most recent financial statements delivered pursuant to Section 5.1 thereof, as applicable, and such other documents and information as it deems appropriate to make its own credit analysis and decision to enter into this Assignment and to purchase the Assigned Interest, (vi) it has, independently and without reliance upon Administrative Agent or any other Lender and based on such documents and information as it has deemed appropriate, made its own  credit analysis and decision to enter into this Assignment and to purchase the Assigned Interest, and (vii) attached to this Assignment is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement (in particular, as prescribed in Section 2.21(c) thereof), 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
		

		
			
		

		
			

		 

		

			ANNEX III-3

		

 

		

		
			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 Credit Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Credit Documents are required to be performed by it as a Lender.
		

		
			 
		

		
			2.         Payments. All payments with respect to the Assigned Interests shall be made on the Effective Date as follows:
		

		
			 
		

		
			2.1        From and after the Effective Date of the assignment, the Administrative Agent shall make all payments in respect of the Assigned Interest (including payments  of principal, interest, fees and other amounts) to the applicable Assignor for amounts which have accrued to but excluding the Effective Date of the  assignment and to the Assignee for amounts which have accrued from and after the Effective Date of the assignment. Notwithstanding the foregoing, the Administrative Agent shall make all payments of interest, fees or other amounts paid or payable in kind from and after the Effective Date of the assignment to the Assignee.
		

		
			 
		

		
			3.         General Provisions. This Assignment shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment 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 by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment. THIS ASSIGNMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THEREOF THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE STATE OF NEW YORK.
		

		
			 
		

		
			[Remainder of page intentionally left blank.]
		

		
			
		

		
			

		 

		

			ANNEX III-4

		

 

		

		
			SCHEDULE I TO
		

		
			MASTER ASSIGNMENT AND ASSUMPTION
		

		
			 
		

		
			Term Loans
		

		
			 
		

			
					
						Assignor

					
					
						Aggregate Amount of
Commitments/Loans for all
Lenders

					
					
						Amount of
Commitment/Loans
Assigned

					
					
						Percentage Assigned of
Commitment/Loans1

				
	
					
						[    ]

					
					
						$[   ]

					
					
						$[   ]

					
					
						[   ]%

				
	
					
						[    ]

					
					
						$[   ]

					
					
						$[   ]

					
					
						[   ]%

				

		
			 
		

		
			Revolving Commitments/Revolving Loans
		

		
			 
		

			
					
						Assignor

					
					
						Aggregate Amount of
Commitments/Loans for all
Lenders

					
					
						Amount of
Commitment/Loans
Assigned

					
					
						Percentage Assigned of
Commitment/Loans2

				
	
					
						[    ]

					
					
						$[   ]

					
					
						$[   ]

					
					
						[   ]%

				
	
					
						[    ]

					
					
						$[   ]

					
					
						$[   ]

					
					
						[   ]%

				

		
			 
		

		
			 
		

		
			 
		

		

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

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

		 

		

			ANNEX III-5

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