Document:

Exhibit 10.1

 

 

 

AMENDED AND RESTATED

SENIOR SECURED REVOLVING CREDIT AGREEMENT

 

dated as of

 

September 18, 2020

 

among

 

STELLUS CAPITAL INVESTMENT CORPORATION

as Borrower

 

ZIONS BANCORPORATION, N.A. dba AMEGY
BANK

as Administrative Agent

 

and

 

THE LENDERS PARTY HERETO

 

 

 

FROST BANK

as Documentation Agent

 

CADENCE BANK, N.A. and HANCOCK WHITNEY
BANK

as Co-Syndication Agents

 

ZIONS BANCORPORATION, N.A. dba AMEGY
BANK

as Sole Lead Arranger and Sole Book Runner

 

 

 

    	 	 	 

     

    

 

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	Article I DEFINITIONS	1
	Section 1.01	Defined Terms	1
	Section 1.02	Classification of Loans and Borrowings	26
	Section 1.03	Terms Generally	26
	Section 1.04	Accounting Terms; GAAP	27
	Section 1.05	Currencies; Currency Equivalents	27
	 	 	 
	Article II THE CREDITS	27
	Section 2.01	The Commitments	27
	Section 2.02	Loans and Borrowings	29
	Section 2.03	Requests for Syndicated Borrowings and Multicurrency Loans	29
	Section 2.04	Swingline Loans	30
	Section 2.05	Letters of Credit	32
	Section 2.06	Funding of Borrowings	36
	Section 2.07	Interest Elections	36
	Section 2.08	Termination, Reduction or Increase of the Commitments	37
	Section 2.09	Repayment of Loans; Evidence of Debt	40
	Section 2.10	Prepayment of Loans	41
	Section 2.11	Fees	42
	Section 2.12	Interest	44
	Section 2.13	Alternate Rate of Interest	44
	Section 2.14	Increased Costs	45
	Section 2.15	Break Funding Payments	46
	Section 2.16	Taxes	46
	Section 2.17	Payments Generally; Pro Rata Treatment: Sharing of Set-offs	50
	Section 2.18	Mitigation Obligations; Replacement of Lenders	52
	Section 2.19	Defaulting Lenders	52
	Section 2.20	Acknowledgement and Consent to Bail-In of Affected Financial Institutions	56
	Section 2.21	LIBOR Replacement	56
	 	 	 
	Article III REPRESENTATIONS AND WARRANTIES	60
	Section 3.0	Organization; Powers	60
	Section 3.02	Authorization; Enforceability	60
	Section 3.03	Governmental Approvals; No Conflicts	60
	Section 3.04	No Material Adverse Effect	60
	Section 3.05	Litigation	60
	Section 3.06	Compliance with Laws and Agreements	61
	Section 3.07	Taxes	61
	Section 3.08	ERISA	61
	Section 3.09	Disclosure	61
	Section 3.10	Investment Company Act; Margin Regulations	61
	Section 3.11	Material Agreements and Liens	62
	Section 3.12	Subsidiaries and Investments	62
	Section 3.13	Properties	62
	Section 3.14	Affiliate Agreements	62
	Section 3.15	Sanctions Laws and Regulations	63
	Section 3.16	Patriot Act	63
	Section 3.17	Collateral Documents	63

 

    	 	i	 

     

    

 

	Article IV CONDITIONS 	63
	Section 4.01	Effective Date	63
	Section 4.02	Each Credit Event	65
	 	 	 
	Article V AFFIRMATIVE COVENANTS	65
	Section 5.01	Financial Statements and Other Information	65
	Section 5.02	Notices of Material Events	67
	Section 5.03	Existence: Conduct of Business	67
	Section 5.04	Payment of Obligations	67
	Section 5.05	Maintenance of Properties; Insurance	68
	Section 5.06	Books and Records; Inspection and Audit Rights	68
	Section 5.07	Compliance with Laws	68
	Section 5.08	Certain Obligations Respecting Subsidiaries; Further Assurances	68
	Section 5.09	Use of Proceeds	69
	Section 5.10	Status of RIC and BDC	69
	Section 5.11	Investment Policies	69
	Section 5.12	Portfolio Valuation and Diversification Etc	69
	Section 5.13	Calculation of Borrowing Base	72
	Section 5.14	Refinancing of Unsecured Notes Due 2022	77
	 	 	 
	Article VI NEGATIVE COVENANTS	77
	Section 6.01	Indebtedness	77
	Section 6.02	Liens	77
	Section 6.03	Fundamental Changes	78
	Section 6.04	Investments	79
	Section 6.05	Restricted Payments	80
	Section 6.06	Certain Restrictions on Subsidiaries	81
	Section 6.07	Certain Financial Covenants	81
	Section 6.08	Transactions with Affiliates	82
	Section 6.09	Lines of Business	82
	Section 6.10	No Further Negative Pledge	82
	Section 6.11	Modifications of Unsecured Notes Due 2022 and Unsecured Longer-Term Indebtedness Documents	83
	Section 6.12	Payments of Unsecured Notes Due 2022, SBA Debentures, and Unsecured Longer-Term Indebtedness	83
	Section 6.13	Accounting Changes	83
	Section 6.14	SBIC Guarantee	83
	Section 6.15	Sanctions Laws and Regulations	83
	 	 	 
	Article VII EVENTS OF DEFAULT	84
	 	 	 
	Article VIII THE ADMINISTRATIVE AGENT	87
	Section 8.01	Appointment of the Administrative Agent	87
	Section 8.02	Capacity as Lender	87
	Section 8.03	Limitation of Duties; Exculpation	88
	Section 8.04	Reliance	88
	Section 8.05	Sub-Agents	88
	Section 8.06	Resignation; Successor Administrative Agent	89
	Section 8.07	Reliance by Lenders	89
	Section 8.08	Modifications to Loan Documents	89

 

    	 	ii	 

     

    

 

	Article IX MISCELLANEOUS	90
	Section 9.01	Notices; Electronic Communications	90
	Section 9.02	Waivers; Amendments	92
	Section 9.03	Expenses; Indemnity; Damage Waiver	94
	Section 9.04	Successors and Assigns	95
	Section 9.05	Survival	100
	Section 9.06	Counterparts; Integration; Effectiveness; Electronic Execution	100
	Section 9.07	Severability	100
	Section 9.08	Right of Setoff	100
	Section 9.09	Governing Law; Jurisdiction; Etc	101
	Section 9.10	WAIVER OF JURY TRIAL	102
	Section 9.11	Judgment Currency	102
	Section 9.12	Headings	102
	Section 9.13	Treatment of Certain Information; No Fiduciary Duty; Confidentiality	102
	Section 9.14	USA PATRIOT Act	104

 

	SCHEDULE 1.01(a)	-	Approved Dealers and Approved Pricing Services
	SCHEDULE 1.01(b)	-	Commitments
	SCHEDULE 1.01(c)	-	Industry Classification Group List
	SCHEDULE 3.11	-	Material Agreements and Liens
	SCHEDULE 3.12(a)	-	Subsidiaries
	SCHEDULE 3.12(b)	-	Investments
	SCHEDULE 6.08	-	Transactions with Affiliates
	EXHIBIT A	-	Form of Assignment and Assumption
	EXHIBIT B	-	Form of Borrowing Base Certificate
	EXHIBIT C	-	Form of Borrowing Request

 

    	 	iii	 

     

    

 

AMENDED AND RESTATED
SENIOR SECURED REVOLVING CREDIT AGREEMENT dated as of September 18, 2020 (as amended, restated, supplemented, or otherwise modified
from time to time, this “Agreement”), among STELLUS CAPITAL INVESTMENT CORPORATION, a Maryland corporation
(the “Borrower”), the LENDERS from time to time party hereto, and ZIONS BANCORPORATION, N.A. dba AMEGY
BANK, as Administrative Agent.

 

WHEREAS, the Borrower,
Lenders and Administrative Agent desire to amend and restate that certain Senior Secured Revolving Credit Agreement dated October
10, 2017 (as amended prior to the date hereof, the “2017 Credit Agreement”), and certain other documents
executed and delivered in connection therewith, in each case, as amended, restated, supplemented or otherwise modified prior to
the date hereof.

 

NOW, THEREFORE, in
consideration of the mutual covenants and agreements herein contained, and other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, and subject to the satisfaction of each condition precedent contained herein, the parties
hereto agree that the 2017 Credit Agreement is hereby amended, renewed, extended and restated in its entirety on (and subject to)
the terms and conditions set forth herein. The parties hereto further agree as follows:

 

Article
I

DEFINITIONS

 

Section 1.01           
Defined Terms. As used in this Agreement, the following terms have the meanings specified below:

 

“ABR”,
when used in reference to any Loan or Borrowing, refers to whether such Loan or the Loans constituting such Borrowing are denominated
in Dollars and bearing interest at a rate determined by reference to the Alternate Base Rate.

 

“Adjusted
Covered Debt Balance” means, on any date, the aggregate Covered Debt Amount on such date minus the aggregate
amount of Cash and Cash Equivalents included in the Portfolio Investments held by the Obligors (provided that, Cash Collateral
for outstanding Letters of Credit shall not be treated as a portion of the Portfolio Investments).

 

“Adjusted
LIBO Rate” means, for the Interest Period for any Eurocurrency Borrowing, an interest rate per annum (rounded upwards,
if necessary, to the next 1/16 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory
Reserve Rate for such Interest Period, provided that if the Adjusted LIBO Rate shall be less than 0.25%, such rate shall be deemed
to be 0.25% for purposes of this Agreement.

 

“Administrative
Agent” means Amegy Bank, in its capacity as administrative agent for the Lenders hereunder.

 

“Administrative
Agent’s Account” means, for each Currency, an account in respect of such Currency designated by the Administrative
Agent in a notice to the Borrower and the Lenders.

 

“Administrative
Questionnaire” means an administrative questionnaire in a form supplied by the Administrative Agent.

 

“Advance
Rate” has the meaning assigned to such term in Section 5.13.

 

“Affected
Currency” has the meaning assigned to such term in Section 2.13.

 

    	 	 	 

     

    

 

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

 

“Affiliate”
means, with respect to a specified Person, another Person that directly, or indirectly through one or more intermediaries, Controls
or is Controlled by or is under common Control with the Person specified. Anything herein to the contrary notwithstanding, the
term “Affiliate” shall not include any Person that constitutes an Investment held by any Obligor in the ordinary course
of business.

 

“Affiliate
Agreements” means (a) the Investment Advisory Agreement, dated as of October 26, 2012, between the Borrower and Stellus
Capital Management, L.L.C., (b) the License Agreement, dated as of September 24, 2012, between the Borrower and Stellus Capital
Management, L.L.C., (c) the Administration Agreement, dated as of October 26, 2012, between the Borrower and Stellus Capital Management,
L.L.C. and (d) the Letter Agreement, dated as of November 1, 2012, between Borrower and Stellus Capital Management, L.L.C.

 

“Agreed
Foreign Currency” means CAD.

 

“Agreement”
has the meaning assigned to such term in the preamble to this Agreement.

 

“Alternate
Base Rate” means, for any day, a rate per annum equal to the greatest of (a) the greater of the Prime Rate in
effect on such day and 3.00%, (b) the Federal Funds Effective Rate for such day plus 1/2 of 1%, and (c) the rate per annum
equal to 1% plus the Adjusted LIBO Rate with a one-month Interest Period on such day (or if such day is not a Business Day,
the immediately preceding Business Day); provided that, the Adjusted LIBO Rate for any day shall be based on the LIBO Rate
at approximately 11:00 a.m. London time on such day, subject to any interest rate floors set forth therein. Any change in the Alternate
Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or the rate as displayed in the Bloomberg Financial
Markets System (or successor therefor) as set forth above shall be effective from and including the effective date of such change
in the Prime Rate, the Federal Funds Effective Rate or such rate as displayed in the Bloomberg Financial Markets System (or successor
therefor), respectively.

 

“Amegy”
or “Amegy Bank” means Zions Bancorporation, N.A. dba Amegy Bank.

 

“Applicable
Dollar Percentage” means, with respect to any Dollar Lender, the percentage of the total Commitments represented
by such Dollar Lender’s Commitment. If the Commitments have terminated or expired, the Applicable Dollar Percentages shall
be determined based upon the Commitments most recently in effect, giving effect to any assignments.

 

“Applicable
Financial Statements” means, as at any date, the most-recent audited financial statements of the Borrower delivered
to the Lenders; provided that if immediately prior to the delivery to the Lenders of new audited financial statements of
the Borrower a Material Adverse Effect (the “Pre-existing MAE”) shall exist (regardless of when it occurred),
then the “Applicable Financial Statements” as at said date means the Applicable Financial Statements in effect immediately
prior to such delivery until such time as the Pre-existing MAE shall no longer exist.

 

    2

     

    

 

“Applicable
Margin” shall mean, as of any date, with respect to interest on all Loans outstanding on any date, as the case
may be, a percentage per annum determined by reference to the applicable Level in effect on such date as set forth in the
table below for such Loans (based on the Asset Coverage Ratio in effect from time to time and as determined as of the last
day of each March, June, September, and December); provided that a change in the Applicable Margin resulting from a
change in the Asset Coverage Ratio shall be effective on the second Business Day after which the Borrower delivers each of
the financial statements required by Section 5.01(a) and (b) and the Compliance Certificate; provided, further that
if at any time the Borrower shall have failed to deliver such financial statements and the Compliance Certificate when so
required, the Applicable Margin shall be at Level I as set forth in the table below until the second Business Day after which
such financial statements and Compliance Certificate are delivered, at which time the Applicable Margin shall be determined
as provided above. Notwithstanding the foregoing, the Applicable Margin from the Effective Date until the second Business Day
after which the financial statements and Compliance Certificate for the fiscal quarter ending September 30, 2020 are required
to be delivered shall be at Level II as set forth in the table below.

 

	Level	Asset Coverage Ratio	Eurocurrency Loans	ABR Loans
	I	< 1.90 : 1.00	2.75%	1.75%
	II	> 1.90 : 1.00	2.50%	1.50%

 

In the event that any
financial statement or Compliance Certificate delivered hereunder is shown to be inaccurate (regardless of whether this Agreement
or the Commitments are in effect when such inaccuracy is discovered), and such inaccuracy, if corrected, would have led to the
application of a higher Applicable Margin based upon the pricing grid set forth in the table above (the “Accurate Applicable
Margin”) for any period for which such financial statement or Compliance Certificate determined the Applicable Margin,
then (a) the Borrower shall immediately deliver to the Administrative Agent a correct financial statement or Compliance Certificate,
as the case may be, for such period, (b) the Applicable Margin shall be adjusted such that after giving effect to the corrected
financial statements or Compliance Certificate, as the case may be, the Applicable Margin shall be reset to the Accurate Applicable
Margin based upon the pricing grid set forth in the table above for such period, and (c) the Borrower shall immediately pay to
the Administrative Agent, for the account of the Lenders, the accrued additional interest owing as a result of such Accurate Applicable
Margin for such period.

 

“Applicable
Multicurrency Percentage” means, with respect to any Multicurrency Lender, such Multicurrency Lender’s commitment
percentage of the total Multicurrency Sublimit.

 

“Applicable
Percentage” means, with respect to any Lender, the percentage of the total Commitments represented by such Lender’s
Commitment. If the Commitments have terminated or expired, the Applicable Percentages shall be determined based upon the Commitments
most recently in effect, giving effect to any assignments.

 

“Approved
Dealer” means (a) in the case of any Investment that is not a U.S. Government Security, a bank or a broker-dealer
registered under the Securities Exchange Act of 1934 (as amended) of nationally recognized standing or an Affiliate thereof, (b)
in the case of a U.S. Government Security, any primary dealer in U.S. Government Securities, and (c) in the case of any foreign
Investment, any foreign broker-dealer of internationally recognized standing or an Affiliate thereof, in the case of each of clauses (a),
(b) and (c) above, as set forth on Schedule 1.01(a) or any other bank or broker-dealer acceptable
to the Administrative Agent in its reasonable determination.

 

“Approved
Pricing Service” means a pricing or quotation service as set forth in Schedule 1.01(a) or any
other pricing or quotation service approved by the board of directors of the Borrower and designated in writing to the Administrative
Agent (which designation shall be accompanied by a copy of a resolution of the board of directors of the Borrower that such pricing
or quotation service has been approved by the Borrower).

 

    3

     

    

 

“Approved
Third-Party Appraiser” means any Independent nationally recognized third-party appraisal firm (a) designated by the
Borrower in writing to the Administrative Agent (which designation shall be accompanied by a copy of a resolution of the board
of directors of the Borrower that such firm has been approved by the Borrower for purposes of assisting the board of directors
of the Borrower in making valuations of portfolio assets to determine the Borrower’s compliance with the applicable provisions
of the Investment Company Act) and (b) acceptable to the Administrative Agent. It is understood and agreed that Houlihan Lokey
Howard & Zukin Capital, Inc., Duff & Phelps LLC, Murray, Devine and Company, Lincoln International LLC (formerly known
as Lincoln Partners LLC) and Valuation Research Corporation are acceptable to the Administrative Agent. As used in Section 5.12
hereof, an “Approved Third-Party Appraiser selected by the Administrative Agent” shall mean any of the
firms identified in the preceding sentence and any other Independent nationally recognized third-party appraisal firm identified
by the Administrative Agent and consented to by the Borrower (such consent not to be unreasonably withheld).

 

“Asset
Coverage Ratio” means the ratio, determined on a consolidated basis for Borrower and its Subsidiaries, without duplication,
of (a) the value of total assets of the Borrower and its Subsidiaries, less all liabilities and indebtedness not represented by
senior securities, to (b) the aggregate amount of senior securities representing indebtedness of Borrower and its Subsidiaries
(including this Agreement), in each case as determined pursuant to the Investment Company Act and any orders of the Securities
and Exchange Commission issued to or with respect to Borrower thereunder, including any exemptive relief granted by the Securities
and Exchange Commission with respect to the indebtedness of any SBIC Subsidiary.

 

“Assignment
and Assumption” means an Assignment and Assumption entered into by a Lender and an assignee (with the consent of
any party whose consent is required by Section 9.04), and accepted by the Administrative Agent, in the form
of Exhibit A or any other form approved by the Administrative Agent.

 

“Assuming
Lender” has the meaning assigned to such term in Section 2.08(e).

 

“Availability
Period” means the period from and including the Effective Date to but excluding the earlier of the Commitment Termination
Date and the date of termination of the Commitments.

 

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

 

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

 

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

 

“Borrower”
has the meaning assigned to such term in the preamble to this Agreement.

 

    4

     

    

 

“Borrowing”
means (a) all Syndicated ABR Loans of the same Class made, converted or continued on the same date, (b) all Eurocurrency Loans
of the same Class denominated in the same Currency that have the same Interest Period or (c) a Swingline Loan.

 

“Borrowing
Base” has the meaning assigned to such term in Section 5.13.

 

“Borrowing
Base Certificate” means a certificate of a Financial Officer of the Borrower, substantially in the form of Exhibit B
and appropriately completed.

 

“Borrowing
Base Deficiency” means, at any date on which the same is determined, the amount, if any, that (a) the aggregate Covered
Debt Amount as of such date exceeds (b) the Borrowing Base as of such date.

 

“Borrowing
Request” means a request by the Borrower for a Syndicated Borrowing in accordance with Section 2.03,
which, if in writing, shall be substantially in the form of Exhibit C.

 

“Business
Day” means any day (a) that is not a Saturday, Sunday or other day on which commercial banks in Houston, Texas are
authorized or required by law to remain closed, (b) when used in connection with a Eurocurrency Loan denominated in Dollars, the
term “Business Day” shall also exclude any day on which banks are not open for dealings in deposits in
Dollars in London, and (c) with respect to any date for the payment or purchase of, or the fixing of an interest rate in relation
to CAD, the term “Business Day” shall also exclude any day on which banks are not open for international
business in the principal financial center of Canada.

 

“CAD”
or “C$” means the lawful currency of Canada.

 

“CAD Screen
Rate” has the meaning assigned to such term in the definition of CDOR Rate.

 

“Calculation
Amount” shall mean, as of the end of any Testing Period, an amount equal to the greater of: (a) (i) 125% of the Adjusted
Covered Debt Balance (as of the end of such Testing Period) minus (ii) the aggregate Value of all Quoted Investments included
in the Borrowing Base (as of the end of such Testing Period) and (b) 10% of the aggregate Value of all Unquoted Investments included
in the Borrowing Base (as of the end of such Testing Period); provided that in no event shall more than 25% (or, if clause (b)
applies, 10%, or as near thereto as reasonably practicable) of the aggregate Value of the Unquoted Investments in the Borrowing
Base be tested in respect of any applicable Testing Period.

 

“CAM Exchange”
means the exchange of the Lenders’ interests provided for in Article VII.

 

“CAM Exchange
Date” means the date on which any Event of Default referred to in clause (j) of Article VII
shall occur or the date on which the Borrower receives written notice from the Administrative Agent that any Event of Default referred
to in clause (i) of Article VII has occurred.

 

“CAM Percentage”
means, as to each Lender, a fraction, expressed as a decimal, of which (a) the numerator shall be the aggregate Dollar Equivalent
of the Designated Obligations owed to such Lender (whether or not at the time due and payable) immediately prior to the CAM Exchange
Date and (b) the denominator shall be the aggregate Dollar Equivalent amount of the Designated Obligations owed to all the Lenders
(whether or not at the time due and payable) immediately prior to the CAM Exchange Date.

 

    5

     

    

 

“Canadian
Prime Rate” means, on any day, the rate determined by the Administrative Agent to be the higher of (a) the
higher of (i) the rate equal to the PRIMCAN index rate that appears on the Bloomberg screen at 10:15 am Toronto time on such
day (or, in the event that the PRIMCAN index is not published by Bloomberg, any other information services that publishes
such index from time to time, as selected by the Administrative Agent in its reasonable discretion), and (ii) 3.00% and (b)
the CDOR Rate for thirty (30) days plus 1% per annum. Any change in the Canadian Prime Rate due to a change in the PRIMCAN
index or the CDOR Rate shall be effective from and including the effective date of such change in the PRIMCAN index or CDOR
Rate, respectively.

 

“Capital
Lease Obligations” of any Person means the obligations of such Person to pay rent or other amounts under any lease
of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are
required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of such
obligations shall be the capitalized amount thereof determined in accordance with GAAP.

 

“Cash”
means any immediately available funds in Dollars or in any currency other than Dollars (measured in terms of the Dollar Equivalent
thereof) which is a freely convertible currency.

 

“Cash Collateralize”
means, in respect of a Letter of Credit or any obligation hereunder, to provide and pledge cash collateral pursuant to Section 2.05(k),
at a location and pursuant to documentation in form and substance reasonably satisfactory to Administrative Agent and the Issuing
Bank. “Cash Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds
of such cash collateral and other credit support.

 

“Cash Equivalents”
means investments (other than Cash) that are one or more of the following obligations:

 

(a)               U.S.
Government Securities, in each case maturing within one year from the date of acquisition thereof;

 

(b)               investments in commercial paper maturing within 270 days from the date of acquisition thereof and having, at such date of
acquisition, a credit rating of at least A-1 from S&P and at least P-1 from Moody’s;

 

(c)               investments in certificates of deposit, banker’s acceptances and time deposits maturing within 180 days from the date
of acquisition thereof (i) issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, any
domestic office of any commercial bank organized under the laws of the United States of America or any State thereof or under the
laws of the jurisdiction or any constituent jurisdiction thereof of any Agreed Foreign Currency; provided that such certificates
of deposit, banker’s acceptances and time deposits are held in a securities account (as defined in the Uniform Commercial
Code) through which the Collateral Agent can perfect a security interest therein and (ii) having, at such date of acquisition,
a credit rating of at least A-1 from S&P and at least P-1 from Moody’s;

 

(d)               fully collateralized repurchase agreements with a term of not more than 30 days from the date of acquisition thereof for
U.S. Government Securities and entered into with (i) a financial institution satisfying the criteria described in clause (c)
of this definition or (ii) an Approved Dealer having (or being a member of a consolidated group having), at such date of acquisition,
a credit rating of at least A-1 from S&P and at least P-1 from Moody’s; and

 

(e)               investments in money market funds that invest solely, and which are restricted by their respective charters to invest solely,
in investments of the type described in the immediately preceding clauses (a) through (d) above (including as to credit quality
and maturity).

 

    6

     

    

 

provided that (i) in no event shall
Cash Equivalents include any obligation that provides for the payment of interest alone (for example, interest-only securities
or “IOs”); (ii) if any of Moody’s or S&P changes its rating system, then any ratings included in this definition
shall be deemed to be an equivalent rating in a successor rating category of Moody’s or S&P, as the case may be; (iii)
Cash Equivalents (other than U.S. Government Securities or repurchase agreements) shall not include any such investment of more
than 10% of total assets of the Borrower and its Subsidiaries in any single issuer; and (iv) in no event shall Cash Equivalents
include any obligation that is not denominated in Dollars or an Agreed Foreign Currency.

 

“CDOR Rate”
means, on any day and for any period, an annual rate of interest equal to the average rate applicable to CAD bankers’ acceptances
for the applicable period that appears on the Reuters Screen CDOR Page (or, in the event such rate does not appear on such page
or screen, on any successor or substitute page or screen that displays such rate, or on the appropriate page of such other information
service that publishes such rate from time to time, as selected by the Administrative Agent in its reasonable discretion), rounded
to the nearest 1/100th of 1% (with .005% being rounded up), at approximately 10:15 am Toronto time on such day, or if
such day is not a Business Day, then on the immediately preceding Business Day (the “CAD Screen Rate”);
provided that if such CAD Screen Rate shall be less than 0.25%, such rate shall be deemed to be 0.25% for purposes of this Agreement.

 

“Change
in Control” means the External Manager ceases to be Controlled by any or all of Robert Ladd, Dean D’Angelo,
Joshua Davis, W. Todd Huskinson and/or Todd Overbergen, or any of their successors who have been approved by the Administrative
Agent in its reasonable discretion within ninety days.

 

“Change
in Law” means the occurrence, after the date of this Agreement, of (a) the adoption of any law, treaty or governmental
rule or regulation or any change in any law, treaty or governmental rule or regulation or in the interpretation, administration
or application thereof (regardless of whether the underlying law, treaty or governmental rule or regulation was issued or enacted
prior to the date hereof), but excluding proposals thereof, or any determination of a court or Governmental Authority, (b) any
guideline, request or directive by any Governmental Authority (whether or not having the force of law) or any implementation rules
or interpretations of previously issued guidelines, requests or directives, in each case that is issued or made after the date
hereof or (c) compliance by any Lender (or its applicable lending office) or any company controlling such Lender with any guideline,
request or directive regarding capital adequacy or liquidity (whether or not having the force of law) of any such Governmental
Authority, in each case adopted after the date hereof. For the avoidance of doubt, all requests, rules, guidelines or directives
concerning liquidity and capital adequacy issued (i) by any United States regulatory authority under or in connection with the
implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act and (ii) in connection with the implementation
of the recommendations of the Bank for International Settlements or the Basel Committee on Banking Regulations and Supervisory
Practices (or any successor or similar authority), in each case pursuant to Basel III, shall in each case be deemed to be a “Change
in Law”, regardless of the date adopted, issued, promulgated or implemented.

 

“Class”,
when used in reference to any Loan or Borrowing, refers to whether such Loan or the Loans constituting such Borrowing are Syndicated
Dollar Loans, Multicurrency Loans or Swingline Loans; when used in reference to any Lender, refers to whether such Lender is a
Dollar Lender or a Multicurrency Lender. The “Class” of a Letter of Credit refers to whether such Letter
of Credit is a Dollar Letter of Credit or a Multicurrency Letter of Credit.

 

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

 

“Collateral”
has the meaning assigned to such term in the Guarantee and Security Agreement.

 

    7

     

    

 

“Collateral
Agent” means Amegy Bank in its capacity as Collateral Agent under the Guarantee and Security Agreement, and includes
any successor Collateral Agent thereunder.

 

“Commitments”
means with respect to each Dollar Lender, the commitment of such Dollar Lender to make Syndicated Loans, and to acquire participations
denominated in Dollars in Letters of Credit, Swingline Loans, and Multicurrency Loans, expressed as an amount representing the
maximum aggregate amount of such Lender’s Revolving Credit Exposure hereunder, as such commitment may be (a) reduced
from time to time pursuant to Section 2.08 and (b) reduced or increased from time to time pursuant to assignments
by or to such Lender pursuant to Section 9.04. The initial amount of each Dollar Lender’s Commitment is
set forth on Schedule 1.01(b) or in the Assignment and Assumption pursuant to which such Lender shall have assumed
its Commitment, as applicable. The aggregate amount of all Dollar Lenders’ Commitments as of the Effective Date is $230,000,000.

 

“Commitment
Increase” has the meaning assigned to such term in Section 2.08(e).

 

“Commitment
Increase Date” has the meaning assigned to such term in Section 2.08(e).

 

“Commitment
Termination Date” means September 18, 2024, as such date may be extended upon the consent of each affected Lender
and the payment by Borrower of a then-market commitment fee.

 

“Compliance
Certificate” means the certificate of a Financial Officer of the Borrower furnished to the Administrative Agent as
required by Section 5.01(c).

 

“Consolidated
EBITDA” means, for Borrower and its Subsidiaries a consolidated basis for any period and without duplication, (a)
Consolidated Net Investment Income, plus (b) to the extent subtracted in determining Consolidated Net Investment Income,
(i) Consolidated Interest Expense, (ii) federal and state income Tax expense, and (iii) depreciation and amortization expense,
minus (c) to the extent added in determining Consolidated Net Investment Income, any accretion of any discounts.

 

“Consolidated
Group” has the meaning assigned to such term in Section 5.13(a).

 

“Consolidated
Interest Expense” means, for Borrower and its Subsidiaries on a consolidated basis for any period, interest expense
for such period (including interest expense attributable to Capital Lease Obligations and all net payment obligations pursuant
to Hedging Agreements).

 

“Consolidated
Net Investment Income” means, for Borrower and its Subsidiaries on a consolidated basis for any period, the consolidated
net investment income (or loss) of such Person for such period as determined in accordance with GAAP.

 

“Control”
means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a
Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling”
and “Controlled” have meanings correlative thereto.

 

“Covered
Debt Amount” means, on any date, the sum of (x) all of the Revolving Credit Exposures of all Lenders on such date
minus (y) the LC Exposures fully Cash Collateralized on such date pursuant to Section 2.05(k) and the
last paragraph of Section 2.09(a).

 

“Currency”
means Dollars or any Foreign Currency.

 

    8

     

    

 

“Default”
means any event or condition which constitutes an Event of Default or which upon notice, lapse of time or both would, unless cured
or waived, become an Event of Default.

 

“Defaulting
Lender” means, subject to Section 2.19(b), any Lender that (a) has failed to (i) fund all or any
portion of its Loans or participations in Letters of Credit within two Business Days of the date such Loans were required to be
funded hereunder unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result
of such Lender’s reasonable determination that one or more conditions precedent to funding (each of which conditions precedent,
together with the applicable default, if any, shall be specifically identified in detail in such writing) has not been satisfied,
or (ii) pay to the Administrative Agent, Issuing Bank, Swingline Lender or any Lender any other amount required to be paid by it
hereunder (including in respect of its participation in Letters of Credit or Swingline Loans) within two Business Days of the date
when due, (b) has notified the Borrower, the Administrative Agent, Issuing Bank or Swingline Lender in writing that it does not
intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or
public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such
Lender’s reasonable determination that a condition precedent to funding (which condition precedent, together with the applicable
default, if any, shall be specifically identified in detail in such writing or public statement) cannot be satisfied), (c) has
failed, within three Business Days after written request by the Administrative Agent or the Borrower, to confirm in writing to
the Administrative Agent and the Borrower that it will comply with its prospective funding obligations hereunder (provided
that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation
by Administrative Agent and Borrower), or (d) Administrative Agent has received notification that such Lender has become, or has
a direct or indirect Parent Company that is, (i) insolvent, or is generally unable to pay its debts as they become due, or
admits in writing its inability to pay its debts as they become due, or makes a general assignment for the benefit of its creditors
or (ii) other than via an Undisclosed Administration, the subject of a bankruptcy, insolvency, reorganization, liquidation or similar
proceeding, or a receiver, trustee, conservator, intervenor or sequestrator or the like has been appointed for such Lender or its
direct or indirect Parent Company, or such Lender or its direct or indirect Parent Company has taken any action in furtherance
of or indicating its consent to or acquiescence in any such proceeding or appointment, or (iii) the subject of a Bail-In Action;
provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any Equity Interest
in that Lender or any direct or indirect Parent Company thereof by a Governmental Authority or instrumentality so long as such
ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States
or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority
or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination
by the Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d)
above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject
to Section 2.19(b)) upon such determination (and the Administrative Agent shall deliver written notice of such
determination to the Borrower, the Issuing Bank and each Lender and the Swingline Lender).

 

“Designated
Obligations” means all obligations of the Borrower with respect to (a) principal of and interest on the Loans
and (b) accrued and unpaid fees under the Loan Documents.

 

“Designated
Persons” means, at any time, (a) any Person listed in any sanctions-related list of designated Persons maintained
by OFAC, the U.S. Department of State, the United Nations Security Council, the European Union, Her Majesty’s Treasury, the
Government of Canada, or other relevant sanctions authority of a jurisdiction in which Borrower or any of its Subsidiaries conduct
their businesses and to which any such Persons are lawfully subject, or (b) any Person owned or controlled by any such Person or
Persons described in clause (a).

 

    9

     

    

 

“Disposition”
or “Dispose” means the sale, transfer, license, lease or other disposition (including any sale and leaseback
transaction) of any property by any Person (or the granting of any option or other right to do any of the foregoing), including
any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and
claims associated therewith; provided that the term “Disposition” or “Dispose” shall not include
the disposition of Investments originated by the Borrower and immediately transferred to a Financing Subsidiary pursuant to a transaction
not prohibited hereunder.

 

“Dollar
Equivalent” means, on any date of determination, with respect to an amount denominated in any Foreign Currency, the
amount of Dollars that would be required to purchase such amount of such Foreign Currency on the date two Business Days prior to
such date, based upon the spot selling rate at which the Administrative Agent offers to sell such Foreign Currency for Dollars
in the London foreign exchange market at approximately 11:00 a.m., London time, for delivery two Business Days later.

 

“Dollar
Lender” means the Persons listed on Schedule 1.01(b) as having Commitments and any other Person
that shall have become a party hereto pursuant to an Assignment and Assumption that provides for it to assume a Commitment or to
acquire Revolving Credit Exposure, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption.

 

“Dollar
Letters of Credit” means Letters of Credit that utilize the Commitments.

 

“Dollar
Loan” means a Loan denominated in Dollars.

 

“Dollars”
or “$” refers to lawful money of the United States of America.

 

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

 

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

 

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

 

“Effective
Date” means the date on which the conditions specified in Section 4.01 are satisfied (or waived
in accordance with Section 9.02).

 

“Equity
Interests” means shares of capital stock, partnership interests, membership interests in a limited liability company,
beneficial interests in a trust or other equity ownership interests or equivalents (however designated, including any instrument
treated as equity for U.S. federal income tax purposes) in a Person, and any warrants, options or other rights entitling the holder
thereof to purchase or acquire any such equity interest.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended from time to time.

 

    10

     

    

 

 

“ERISA
Affiliate” means any trade or business (whether or not incorporated) that, together with the Borrower, is treated
as a single employer under Section 414(b) or (c) of the Code, or, solely for purposes of Section 302 of ERISA and Section 412
of the Code, is treated as a single employer under Section 414 of the Code.

 

“ERISA
Event” means (a) any “reportable event”, as defined in Section 4043 of ERISA or the regulations
issued thereunder with respect to a Plan (other than an event for which the 30-day notice period is waived); (b) any failure by
any Plan to satisfy the minimum funding standard (within the meaning of Section 412 of the Code or Section 302 of ERISA)
applicable to such Plan; (c) the filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an application
for a waiver of the minimum funding standard with respect to any Plan; (d) the incurrence by the Borrower or any of its ERISA Affiliates
of any liability under Title IV of ERISA with respect to the termination of any Plan; (e) the receipt by the Borrower or any
ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan or Plans or
to appoint a trustee to administer any Plan; (f) the incurrence by the Borrower or any of its ERISA Affiliates of any liability
with respect to the withdrawal or partial withdrawal from any Plan or Multiemployer Plan; or (g) the receipt by the Borrower or
any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from the Borrower or any ERISA Affiliate of any notice,
concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent
or in reorganization, within the meaning of Title IV of ERISA.

 

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

 

“Eurocurrency”,
when used in reference to any Loan or Borrowing, refers to whether such Loan or the Loans constituting such Borrowing are bearing
interest at a rate determined by reference to the Adjusted LIBO Rate.

 

“Event
of Default” has the meaning assigned to such term in Article VII.

 

“Excluded
Taxes” means, with respect to the Administrative Agent, any Lender, the Issuing Bank or any other recipient of any
payment to be made by or on account of any obligation of the Borrower hereunder, (a) income, corporate, franchise or other similar
Taxes imposed on (or measured by) its net income or profits by the United States of America (or any state or political subdivision
thereof), or by the jurisdiction (or any political subdivision thereof) under the laws of which such recipient is organized or
in which its principal office is located or, in the case of any Lender, in which its applicable lending office is located, (b)
any branch profits Taxes imposed by the United States of America or any similar Tax imposed by any other jurisdiction in which
the Borrower is located, (c) in the case of a Lender, any U.S. withholding Tax imposed on amounts payable to such Lender at the
time such Lender (i) becomes a party to this Agreement (other than an assignee pursuant to a request by the Borrower under Section
2.18(b)) or (ii) designates a new lending office, except to the extent that such Lender’s assignor or such Lender
was entitled to receive additional amounts from the Borrower with respect to such withholding Tax pursuant to Section 2.16,
at the time of such assignment or designation (other than to the extent such withholding is as a result of a CAM Exchange), (d)
Taxes attributable to such Lender’s failure or inability to comply with Section 2.16(f), (e) any U.S.
federal, state or local backup withholding Taxes imposed on payments made under any Loan Document, and (f) any U.S. federal withholding
Tax that is imposed pursuant to FATCA.

 

“External
Manager” means Stellus Capital Management, LLC.

 

    11

     

    

 

“FATCA”
means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively
comparable), any current or future regulations or official interpretations thereof and any agreements entered into pursuant to
Section 1471(b)(1) of the Code, any intergovernmental agreement entered into in connection with such sections of the Code
and any legislations, law, regulation or practice enacted or promulgated pursuant to such intergovernmental agreement.

 

“Federal
Funds Effective Rate” means, for any day, the weighted average (rounded upwards, if necessary, to the next 1/100
of 1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds
brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published
for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of 1%) of the quotations for
such day for such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected
by it; provided that, if the Federal Funds Effective Rate shall be less than zero, such rate shall be deemed to be zero for purposes
of this Agreement.

 

“Fee Letter”
means that certain fee letter dated as of September 18, 2020, between Borrower and Amegy Bank, as amended, restated, supplemented,
or otherwise modified from time to time.

 

“Final
Maturity Date” means September 18, 2025.

 

“Financial
Officer” means the chief financial officer or treasurer of the Borrower.

 

“Financing
Subsidiary” means an SPE Subsidiary or an SBIC Subsidiary.

 

“Foreign
Currency” means at any time any currency other than Dollars.

 

“Foreign
Currency Equivalent” means, with respect to any amount in Dollars, the amount of any Foreign Currency that could
be purchased with such amount of Dollars using the reciprocal of the foreign exchange rate(s) specified in the definition of the
term “Dollar Equivalent”, as determined by the Administrative Agent.

 

“Foreign
Lender” means any Lender that is not a “United States person” as defined under Section 7701(a)(30)
of the Code.

 

“Foreign
Subsidiary” means any (a) direct or indirect Subsidiary of the Borrower that is organized under the laws of any jurisdiction
other than the United States or its territories or possessions and that is treated as a corporation for United States federal income
Tax purposes, (b) direct or indirect Subsidiary of the Borrower which is a “controlled foreign corporation” within
the meaning of the Code or (c) direct or indirect Subsidiary that is disregarded as an entity that is separate from its owner for
United States federal income Tax purposes and substantially all of its assets consist of the Capital Stock of one or more direct
or indirect Foreign Subsidiaries.

 

“Fronting
Exposure” means, at any time there is a Defaulting Lender, with respect to any Issuing Bank, such Defaulting Lender’s
Applicable Dollar Percentage of the outstanding LC Exposure with respect to Letters of Credit issued by such Issuing Bank other
than LC Exposure as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or Cash
Collateralized in accordance with the terms hereof.

 

“GAAP”
means generally accepted accounting principles in the United States of America.

 

    12

     

    

 

“Good Faith
Tax Estimate” has the meaning assigned to such term in Section 6.05(b).

 

“Governmental
Authority” means the government of the United States of America, or of any other nation, or any political subdivision
thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity
exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government.

 

“Guarantee”
of or by any Person (the “guarantor”) means any obligation, contingent or otherwise, of the guarantor
guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary
obligor”) in any manner, whether directly or indirectly, and including any obligation of the guarantor, direct or
indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation
or to purchase (or to advance or supply funds for the purchase of) any security for the payment thereof, (b) to purchase or lease
property, securities or services for the purpose of assuring the owner of such Indebtedness or other obligation of the payment
thereof, (c) to maintain working capital, equity capital or any other financial statement condition or liquidity of the primary
obligor so as to enable the primary obligor to pay such Indebtedness or other obligation or (d) as an account party in respect
of any letter of credit or letter of guaranty issued to support such Indebtedness or obligation; provided that the term
Guarantee shall not include (i) endorsements for collection or deposit in the ordinary course of business or (ii) customary
indemnification agreements entered into in the ordinary course of business, provided that such indemnification obligations are
unsecured, such Person has determined that any liability thereunder is remote and such indemnification obligations are not the
functional equivalent of the guaranty of a payment obligation of the primary obligor.

 

“Guarantee
and Security Agreement” means that certain Amended and Restated Guarantee and Security Agreement dated as of the
date hereof, among the Borrower, the Administrative Agent, each Subsidiary of the Borrower from time to time party thereto and
the Collateral Agent, as the same shall be modified and supplemented and in effect from time to time.

 

“Guarantee
Assumption Agreement” means a Guarantee Assumption Agreement substantially in the form of Exhibit B to the Guarantee
and Security Agreement between the Collateral Agent and an entity that pursuant to Section 5.08 is required
to become a “Subsidiary Guarantor” under the Guarantee and Security Agreement (with such changes as the Administrative
Agent shall request consistent with the requirements of Section 5.08).

 

“Hedging
Agreement” means any interest rate protection agreement, foreign currency exchange protection agreement, commodity
price protection agreement or other interest or currency exchange rate or commodity price hedging arrangement which is provided
by a Lender or an Affiliate of a Lender and is documented on a form of master agreement published by the International Swaps and
Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or other reasonable and customary manner.

 

“Immaterial
Subsidiaries” means those Subsidiaries of the Borrower that are “designated” as Immaterial Subsidiaries
by the Borrower from time to time (it being understood that the Borrower may at any time change any such designation); provided
that such designated Immaterial Subsidiaries shall collectively meet all of the following criteria as of the date of the most recent
balance sheet required to be delivered pursuant to Section 5.01: (a) the aggregate assets of such Subsidiaries
and their Subsidiaries (on a consolidated basis) as of such date do not exceed an amount equal to 2% of the consolidated assets
of the Borrower and its Subsidiaries as of such date; and (b) the aggregate revenues of such Subsidiaries and their Subsidiaries
(on a consolidated basis) for the fiscal quarter ending on such date do not exceed an amount equal to 2% of the consolidated revenues
of the Borrower and its Subsidiaries for such period.

 

    13

     

    

 

“Increasing
Lender” has the meaning assigned to such term in Section 2.08(e).

 

“Indebtedness”
of any Person means, without duplication, (a) all obligations of such Person for borrowed money or with respect to deposits or
advances of any kind, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all
obligations of such Person under conditional sale or other title retention agreements relating to property acquired by such Person,
(d) all obligations of such Person in respect of the deferred purchase price of property or services (excluding accounts payable
and accrued expenses incurred in the ordinary course of business which are not overdue for a period of more than 90 days), (e)
all Indebtedness of others secured by any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured
thereby has been assumed (with the value of such debt being the lower of the outstanding amount of such debt and the fair market
value of the property subject to such Lien), (f) all Guarantees by such Person of Indebtedness of others, (g) all Capital Lease
Obligations of such Person, (h) all obligations, contingent or otherwise, of such Person as an account party in respect of
letters of credit and letters of guaranty and (i) all obligations, contingent or otherwise, of such Person in respect of bankers’
acceptances. The Indebtedness of any Person shall include the Indebtedness of any other entity (including any partnership in which
such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest
in or other relationship with such entity, except to the extent the terms of such Indebtedness provide that such Person is not
liable therefor. Notwithstanding the foregoing, “Indebtedness” shall not include (x) purchase price holdbacks arising
in the ordinary course of business in respect of a portion of the purchase price of an asset or Investment to satisfy unperformed
obligations of the seller of such asset or Investment or (y) a commitment arising in the ordinary course of business to make a
future Investment.

 

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

 

“Independent”
when used with respect to any specified Person means that such Person (a) does not have any direct financial interest or any material
indirect financial interest in the Borrower or any of its Subsidiaries or Affiliates (including its investment advisor or any Affiliate
thereof) and (b) is not connected with the Borrower or of its Subsidiaries or Affiliates (including its investment advisor or any
Affiliate thereof) as an officer, employee, promoter, underwriter, trustee, partner, director or Person performing similar functions.

 

“Industry
Classification Group” means (a) any of the classification groups set forth in Schedule 1.01(c)
hereto, together with any such classification groups that may be subsequently established by Moody’s and provided by the
Borrower to the Lenders, and (b) up to three additional industry group classifications established by the Borrower pursuant to
Section 5.12.

 

“Interest
Coverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated EBITDA to (b) Consolidated
Interest Expense, in each case for the period of four consecutive fiscal quarters ending on such date.

 

“Interest
Election Request” means a request by the Borrower to convert or continue a Syndicated Borrowing in accordance with
Section 2.07.

 

“Interest
Payment Date” means (a) with respect to any Syndicated ABR Loan, each Quarterly Date, (b) with respect to any Eurocurrency
Loan, the last day of each Interest Period therefor and, in the case of any Interest Period of more than three months’ duration,
each day prior to the last day of such Interest Period that occurs at three-month intervals after the first day of such Interest
Period and (c) with respect to any Swingline Loan, the day that such Loan is required to be repaid.

 

    14

     

    

 

“Interest
Period” means, for any Eurocurrency Loan or Borrowing (a) in Dollars, the period commencing on the date of such Loan
or Borrowing and ending on the numerically corresponding day in the calendar month that is one, two, three or six months thereafter
and (b) in CAD, the period commencing on the date of such Loan or Borrowing and ending on the numerically corresponding day in
the calendar month that is one, two, three or six months thereafter; provided that (i) if any Interest Period would end
on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next
succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding
Business Day, and (ii) any Interest Period (other than an Interest Period pertaining to a Eurocurrency Borrowing denominated in
CAD that ends on the Final Maturity Date that is permitted to be of less than one month’s duration as provided in this definition)
that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in
the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest
Period. For purposes hereof, the date of a Loan initially shall be the date on which such Loan is made and thereafter shall be
the effective date of the most recent conversion or continuation of such Loan, and the date of a Syndicated Borrowing comprising
Loans that have been converted or continued shall be the effective date of the most recent conversion or continuation of such Loans.

 

“Interpolated
Rate” means, at any time, for any Interest Period, the rate per annum (rounded to the same number of decimal places
as the applicable Screen Rate) determined by the Administrative Agent (which determination shall be conclusive and binding absent
manifest error) to be equal to the rate that results from interpolating on a linear basis between: (a) the applicable Screen Rate
for the longest period (for which such applicable Screen Rate is available) that is shorter than the Impacted Interest Period and
(b) the applicable Screen Rate for the shortest period (for which the applicable Screen Rate is available) that exceeds the Impacted
Interest Period, in each case, at such time; provided that, if the Interpolated Rate shall be less than 0.25%, such rate
shall be deemed to be 0.25% for purposes of this Agreement.

 

“Investment”
means, for any Person: (a) Equity Interests, bonds, notes, debentures or other securities of any other Person or any agreement
to acquire any Equity Interests, bonds, notes, debentures or other securities of any other Person (and any rights or proceeds in
respect of (x) any “short sale” of securities or (y) any sale of any securities at a time when such securities are
not owned by such Person); (b) deposits, advances, loans or other extensions of credit made to any other Person (including purchases
of property from another Person subject to an understanding or agreement, contingent or otherwise, to resell such property to such
Person); or (c) Hedging Agreements.

 

“Investment
Company Act” means the Investment Company Act of 1940, as amended from time to time.

 

“Investment
Policies” means the investment objectives, policies, restrictions and limitations set forth in the “COMPANY”
section of its Registration Statement, and as the same may be changed, altered, expanded, amended, modified, terminated or restated
from time to time.

 

“IRS”
means the United States Internal Revenue Service.

 

“Issuing
Bank” means Amegy Bank, in its capacity as the issuer of Letters of Credit hereunder, and its successors in such
capacity as provided in Section 2.05(j). In the case of any Letter of Credit to be issued in an Agreed Foreign
Currency, Amegy Bank may designate any of its affiliates as the “Issuing Bank” for purposes of such Letter of Credit.

 

“LC Disbursement”
means a payment made by the Issuing Bank pursuant to a Letter of Credit.

 

    15

     

    

 

“LC Exposure”
means, at any time, the sum of (a) the aggregate undrawn amount (or Dollar Equivalent) of all outstanding Letters of Credit at
such time plus (b) the aggregate amount of all LC Disbursements (or Dollar Equivalent) in respect of such Letters of Credit
that have not yet been reimbursed by or on behalf of the Borrower at such time. The LC Exposure of any Lender at any time shall
be its Applicable Dollar Percentage of the total LC Exposure at such time.

 

“Lenders”
means, collectively, the Dollar Lenders and the Multicurrency Lenders. Unless the context otherwise requires, the term “Lenders”
includes the Swingline Lender.

 

“Letter
of Credit” means any letter of credit issued pursuant to this Agreement.

 

“Letter
of Credit Collateral Account” has the meaning assigned to such term in Section 2.05(k).

 

“Letter
of Credit Documents” means, with respect to any Letter of Credit, collectively, any application therefor and any
other agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter
of Credit) governing or providing for (a) the rights and obligations of the parties concerned or at risk with respect to such Letter
of Credit or (b) any collateral security for any of such obligations, each as the same may be modified and supplemented and in
effect from time to time.

 

“LIBO Rate”
means, with respect to (a) any Eurocurrency Borrowing in Dollars and for any applicable Interest Period, the London interbank offered
rate administered by ICE Benchmark Administration (or any other Person that takes over the administration of such rate) for deposits
in Dollars for a period equal in length to such Interest Period, as displayed on pages LIBOR01 or LIBOR02 of the Reuters screen
or, in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page on such screen that
displays such rate, or on the appropriate page of such other information service that publishes such rate as shall be selected
by the Administrative Agent from time to time in its reasonable discretion (the “LIBO Screen Rate”),
at approximately 11:00 a.m., London time, two (2) Business Days prior to the commencement of such Interest Period, and (b) any
Eurocurrency Borrowing denominated in CAD and for any applicable Interest Period, the CDOR Rate; provided that, if any LIBO
Screen Rate or any CAD Screen Rate, as applicable, shall not be available at the applicable time for the applicable Interest Period
(an “Impacted Interest Period”), then the LIBO Rate shall be the Interpolated Rate at such time, subject
to Section 2.13, and provided further that, if the LIBO Rate shall be less than 0.25, such rate shall
be deemed to be 0.25 for purposes of this Agreement. Notwithstanding the above, to the extent that “LIBO Rate”
or “Adjusted LIBO Rate” is used in connection with an ABR Borrowing, such rate shall be determined as
modified by the definition of Alternate Base Rate.

 

“Lien”
means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or security
interest in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease
or title retention agreement (or any financing lease having substantially the same economic effect as any of the foregoing) relating
to such asset and (c) in the case of securities, any purchase option, call or similar right of a third party with respect to such
securities, except in favor of the issuer thereof (and in the case of Investments that are securities, excluding customary drag-along,
tagalong, right of first refusal and other similar rights in favor of the equity holders of the same issuer).

 

“Loan Documents”
means, collectively, this Agreement, the Fee Letter, the Letter of Credit Documents and the Security Documents.

 

“Loans”
means the loans made by the Lenders to the Borrower pursuant to this Agreement.

 

    16

     

    

 

“Margin
Stock” means “margin stock” within the meaning of Regulations T, U and X.

 

“Material
Adverse Effect” means a material adverse effect on (a) the business, Investments and other assets, liabilities or
financial condition of the Borrower or the Borrower and its Subsidiaries (other than Financing Subsidiaries) taken as a whole (excluding
in any case a decline in the net asset value of the Borrower or a change in general market conditions or values of the Investments),
or (b) the validity or enforceability of any of the Loan Documents or the rights or remedies of the Administrative Agent and the
Lenders thereunder.

 

“Material
Indebtedness” means (a) Indebtedness (other than the Loans, Letters of Credit and Hedging Agreements), of any one
or more of the Borrower and its Subsidiaries in an aggregate principal amount exceeding $5,000,000 and (b) obligations in respect
of one or more Hedging Agreements under which the maximum aggregate amount (giving effect to any netting agreements) that the Borrower
and its Subsidiaries would be required to pay if such Hedging Agreement(s) were terminated at such time would exceed $5,000,000.

 

“Minimum
Collateral Amount” means, at any time, with respect to Cash Collateral consisting of Cash or deposit account balances,
an amount equal to 100% of the Fronting Exposure of Issuing Bank with respect to Letters of Credit issued and outstanding at such
time.

 

“Moody’s”
means Moody’s Investors Service, Inc. or any successor to the ratings business thereof.

 

“Multicurrency
LC Exposure” means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Multicurrency Letters
of Credit at such time plus (b) the aggregate amount of all LC Disbursements in respect of such Multicurrency Letters of
Credit that have not yet been reimbursed by or on behalf of the Borrower at such time.

 

“Multicurrency
Lender” means Amegy Bank in its capacity as lender of Multicurrency Loans, and each other Lender from time to time
approved by Administrative Agent and Borrower to make Multicurrency Loans.

 

“Multicurrency
Letters of Credit” means Letters of Credit denominated in an Agreed Foreign Currency.

 

“Multicurrency
Loan” means a Loan made pursuant to Section 2.01(b) and which is denominated in an Agreed Foreign
Currency.

 

“Multicurrency
Loan Exposure” means, at any time, the aggregate principal amount of all Multicurrency Loans outstanding at such
time. The Multicurrency Loan Exposure of any Multicurrency Lender at any time shall be its Applicable Multicurrency Percentage
of the total Multicurrency Loan Exposure.

 

“Multicurrency
Sublimit” means the lesser of (a) $30,000,000, and (b) the aggregate amount of the Commitments.

 

“Multiemployer
Plan” means a multiemployer plan as defined in Section 4001(a)(3) of ERISA.

 

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

 

    17

     

    

 

“Non-Public
Information” means material non-public information (within the meaning of United States federal, state or other applicable
securities laws) with respect to Borrower or its Affiliates or their Securities.

 

“Note”
means a promissory note made by the Borrower in favor of a Lender evidencing Loans made by such Lender, in form and substance reasonably
acceptable to the Administrative Agent.

 

“Obligor”
means, collectively, the Borrower and the Subsidiary Guarantors.

 

“OFAC”
means the U.S. Department of the Treasury’s Office of Foreign Assets Control.

 

“Original
Currency” has the meaning assigned to such term in Section 2.17.

 

“Other
Permitted Indebtedness” means (a) accrued expenses and current trade accounts payable incurred in the ordinary course
of the Borrower’s business which are not overdue for a period of more than 90 days or which are being contested in good faith
by appropriate proceedings, (b) Indebtedness (other than Indebtedness for borrowed money) arising in connection with transactions
in the ordinary course of the Borrower’s business in connection with its purchasing of securities, derivatives transactions,
reverse repurchase agreements or dollar rolls to the extent such transactions are permitted under the Investment Company Act and
the Borrower’s Investment Policies (after giving effect to any Permitted Policy Amendments), provided that, such Indebtedness
does not arise in connection with the purchase of Investments other than Cash Equivalents and U.S. Government Securities, and (c)
Indebtedness in respect of judgments or awards that have been in force for less than the applicable period for taking an appeal
so long as such judgments or awards do not constitute an Event of Default under clause (l) of Article VII;
provided that, for the avoidance of doubt, Indebtedness arising under Hedging Agreements shall not constitute “Other
Permitted Indebtedness” hereunder.

 

“Other
Taxes” means any and all present or future stamp, court or documentary, intangible, recording, filing or similar
Taxes arising from any payment made under any Loan Document or from the execution, delivery or enforcement of, or otherwise with
respect to, any Loan Document, excluding any such Taxes, charges or similar levies resulting from an assignment by any Lender in
accordance with Section 9.04 hereof (unless such assignment is made pursuant to Section 2.18(b)).

 

“Parent
Company” means, with respect to a Lender, the bank holding company (as defined in Federal Reserve Board Regulation
Y), if any, of such Lender, and/or any Person owning, beneficially or of record, directly or indirectly, a majority of the shares
of such Lender.

 

“Participant”
has the meaning assigned to such term in Section 9.04.

 

“Participant
Register” has the meaning assigned to such term in Section 9.04.

 

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

 

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“Permitted
Liens” means (a) Liens imposed by any Governmental Authority for Taxes, assessments or charges not yet due or
that are being contested in good faith and by appropriate proceedings if adequate reserves with respect thereto are
maintained on the books of the Borrower in accordance with GAAP; (b) Liens of clearing agencies, broker-dealers and similar
Liens incurred in the ordinary course of business, provided that, such Liens (i) attach only to the securities (or
proceeds) being purchased or sold and (ii) secure only obligations incurred in connection with such purchase or sale, and not
any obligation in connection with margin financing; (c) Liens imposed by law, such as materialmen’s, mechanics’,
carriers’, workmens’, storage and repairmen’s Liens and other similar Liens arising in the ordinary course
of business and securing obligations (other than Indebtedness for borrowed money) not yet due or that are being contested in
good faith and by appropriate proceedings if adequate reserves with respect thereto are maintained on the books of the
Borrower in accordance with GAAP; (d) Liens incurred or pledges or deposits made to secure obligations incurred in the
ordinary course of business under workers’ compensation laws, unemployment insurance or other similar social security
legislation (other than in respect of employee benefit plans subject to ERISA) or to secure public or statutory obligations;
(e) Liens securing the performance of, or payment in respect of, bids, insurance premiums, deductibles or co-insured amounts,
tenders, government or utility contracts (other than for the repayment of borrowed money), surety, stay, customs and appeal
bonds and other obligations of a similar nature incurred in the ordinary course of business; (f) Liens arising out of
judgments or awards that have been in force for less than the applicable period for taking an appeal so long as such
judgments or awards do not constitute an Event of Default under clause (l) of Article VII; (g)
customary rights of setoff and liens upon (i) deposits of cash in favor of banks or other depository institutions in
which such cash is maintained in the ordinary course of business, (ii) cash and financial assets held in securities accounts
in favor of banks and other financial institutions with which such accounts are maintained in the ordinary course of business
and (iii) assets held by a custodian in favor of such custodian in the ordinary course of business securing payment of fees,
indemnities and other similar obligations; (h) Liens arising solely from precautionary filings of financing statements under
the Uniform Commercial Code of the applicable jurisdictions in respect of operating leases entered into by the Borrower or
any of its Subsidiaries in the ordinary course of business; and (i) deposits of money securing leases to which Borrower
is a party as lessee made in the ordinary course of business.

 

“Permitted
Policy Amendment” means any change, alteration, expansion, amendment, modification, termination or restatement of
the Investment Policies that is either (a) approved in writing by the Administrative Agent (with the consent of the Required Lenders),
(b) required by applicable law, rule, regulation or Governmental Authority, or (c) not material in the reasonable discretion of
the Administrative Agent (for the avoidance of doubt, no change, alteration, expansion, amendment, modification, termination or
restatement of the Investment Policies shall be deemed “material” if investment size proportionately increases as the
size of the Borrower’s capital base changes).

 

“Permitted
Refinancing” mean any extension, renewal, exchange, replacement, modification or refinancing of the Unsecured Notes
Due 2022 that (a) has no amortization prior to, and a final maturity date not earlier than, six months after the Final Maturity
Date after giving effect to any extension of the Final Maturity Date at the time of incurrence of such extension, renewal, exchange,
replacement, modification or refinancing but not after, (b) is incurred pursuant to documentation that is substantially comparable
to market terms for substantially similar debt of other similarly situated borrowers as determined by the Borrower in its reasonable
judgment and (c) is not secured by any assets of any Obligor. It is understood and agreed that (i) conversion features and conversion
rights under convertible notes, (ii) the triggering and/or settlement of conversion rights upon the exercise thereof or the
repurchase of convertible notes by such Obligor at the option of the holder, or (iii) any cash payment made in respect of a triggering
or settlement of conversion rights upon the exercise thereof, shall not constitute “amortization” for purposes of this
clause (a).

 

“Permitted
SBIC Guarantee” means a guarantee by the Borrower of Indebtedness of an SBIC Subsidiary on the SBA’s then applicable
form, provided that, the recourse to the Borrower thereunder is expressly limited only to periods after the occurrence of
an event or condition that is an impermissible change in the control of such SBIC Subsidiary (it being understood that, as provided
in clause (t) of Article VII, it shall be an Event of Default hereunder if any such event or condition
giving rise to such recourse occurs).

 

    19

     

    

 

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

 

“Plan”
means any employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412
of the Code or Section 302 of ERISA, and in respect of which the Borrower or any ERISA Affiliate is (or, if such plan were
terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of
ERISA.

 

“Platform”
means has the meaning set forth in Section 5.01.

 

“Portfolio
Investment” means any Investment held by the Obligors in their asset portfolio (and, solely for purposes of determining
the Borrowing Base, Cash). Without limiting the generality of the foregoing, the following Investments shall not be considered
Portfolio Investments under this Agreement or any other Loan Document: (a) any Investment by an Obligor in any Subsidiary or Affiliate
of such Obligor or any Financing Subsidiary (including, for the avoidance of doubt, any Investment by an Obligor in an entity constituting
a portfolio investment of such Obligor or an Affiliate of such Obligor); (b) any Investment that provides in favor of the obligor
in respect of such Portfolio Investment an express right of rescission, set-off, counterclaim or any other defenses; (c) any Investment,
which if debt, is an obligation (other than a revolving loan or delayed draw term loan) pursuant to which any future advances or
payments to the Obligor may be required to be made by the Borrower; (d) any Investment which is made to a bankrupt entity (other
than a debtor-in-possession financing and current pay obligations); (f) any Investment, Cash or account in which a Financing Subsidiary
has an interest; and (g) any Investment that, when made, was not made in accordance with Borrower’s Investment Policies in
effect at such time.

 

“Prime
Rate” means the rate of interest per annum then most recently published in The Wall Street Journal (or any successor
publication if The Wall Street Journal is no longer published) in the “Money Rates” Section (or such successor
section) as the “Prime Rate.” If a range of prime interest rates per annum is so published, “Prime Rate”
shall mean the highest rate per annum of all stated rates in such published range. If the definition of “Prime Rate”
is no longer published in The Wall Street Journal (or any successor publication), “Prime Rate” shall mean, at any time,
the rate of interest per annum then most recently established by Administrative Agent as its prime rate.

 

“Principal
Financial Center” means, in the case of any Currency, the principal financial center where such Currency is cleared
and settled, as determined by the Administrative Agent.

 

“Prohibited
Assignees and Participants Side Letter” means that certain Side Letter, dated as of the date hereof, between the
Borrower and the Administrative Agent.

 

“Public
Lender” means Lenders that do not wish to receive Non-Public Information with respect to the Borrower or any of its
Subsidiaries or their Securities.

 

“Quarterly
Date” means the last Business Day of March, June, September and December in each year, commencing on September 30,
2020.

 

“Quoted
Investments” means a Portfolio Investment with a value assigned by the Borrower pursuant to Section 5.12(b)(ii)(A).

 

“Register”
has the meaning set forth in Section 9.04.

 

    20

     

    

 

“Registration
Statement” means the Registration Statement on Form N-2 filed by the Borrower with the Securities and Exchange Commission
on April 29, 2019, as amended by Pre-Effective Amendment No. 1 filed by the Borrower with the Securities and Exchange Commission
on June 20, 2019.

 

“Regulations
D, T, U and X” means, respectively, Regulations D, T, U and X of the Board of Governors of the Federal Reserve System
(or any successor), as the same may be modified and supplemented and in effect from time to time.

 

“Related
Parties” means, with respect to any specified Person, such Person’s Affiliates and the respective partners,
directors, officers, employees, agents and advisors of such Person and such Person’s Affiliates.

 

“Required
Lenders” means, at any time, Lenders having Revolving Credit Exposures and unused Commitments representing more than
50% of the sum of the total Revolving Credit Exposures and unused Commitments at such time; provided that the Revolving
Credit Exposures and unused Commitments of any Defaulting Lender shall be disregarded in the determination of Required Lenders.

 

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

 

“Restricted
Payment” means any dividend or other distribution (whether in cash, securities or other property) with respect to
any shares of any class of capital stock of the Borrower or any of its Subsidiaries, or any payment (whether in cash, securities
or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition,
cancellation or termination of any such shares of capital stock of the Borrower or any option, warrant or other right to acquire
any such shares of capital stock of the Borrower (it being understood that none of: (w) the conversion features under convertible
notes; (x) the triggering and/or settlement thereof or in respect of the repurchase of such notes at the option of the holder;
or (y) any cash payment made by the Borrower in respect thereof, shall constitute a Restricted Payment hereunder).

 

“Revolving
Credit Exposure” means, with respect to any Lender at any time, the sum of the outstanding principal amount of such
Lender’s Syndicated Loans, its LC Exposure, its Swingline Exposure, and its Multicurrency Loan Exposure.

 

“Revolving
Multicurrency Credit Exposure” means, with respect to any Multicurrency Lender at any time, the sum of its Multicurrency
Loan Exposure and its Multicurrency LC Exposure.

 

“Revolving
Percentage” means, as of any date of determination, the result, expressed as a percentage, of the Revolving Credit
Exposure on such date divided by the aggregate outstanding Covered Debt Amount on such date.

 

“RIC”
means a “regulated investment company” as defined in section 851 of the Code.

 

“S&P”
means S&P Global Ratings (formerly Standard & Poor’s Ratings Services, a division of The McGraw Hill Companies, Inc.)
or any successor to the rating agency thereof.

 

“Sanctioned
Country” means a country, region or territory which is itself the subject or target of any Sanctions Laws and Regulations.

 

“Sanctions
Laws and Regulations” means any economic or financial sanctions or trade embargoes, imposed,
administered, or enforced from time to time by the U.S. government (including those administered by OFAC), the European
Union, Her Majesty’s Treasury, the Government of Canada, the United Nations Security Council or other relevant
sanctions authority of a jurisdiction in which Borrower or any of its Subsidiaries conduct their businesses and to which any
such Persons are lawfully subject.

 

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“SBA”
means the United States Small Business Administration.

 

“SBA Debentures”
means (a) existing SBA promissory notes and debentures issued by Stellus Capital SBIC, LP and Stellus Capital SBIC II, LP, in each
case, outstanding on the Effective Date so long as such notes and debentures are not secured by any assets of any Obligor, and
(b) from time to time after the Effective Date, any SBA promissory notes and debentures issued by any SBIC Subsidiary, so long
as such notes and debentures are not secured by any assets of any Obligor.

 

“SBIC Equity
Commitment” means a commitment by the Borrower to make one or more capital contributions to an SBIC Subsidiary.

 

“SBIC Subsidiary”
means any direct or indirect Subsidiary (including such Subsidiary’s general partner or managing entity to the extent that
the only material asset of such general partner or managing entity is its Equity Interest in the SBIC Subsidiary) of the Borrower
licensed as a small business investment company under the Small Business Investment Act of 1958, as amended, and which is designated
by the Borrower (as provided below) as an SBIC Subsidiary, so long as (a) no portion of the Indebtedness or any other obligations
(contingent or otherwise) of such Subsidiary: (i) is Guaranteed by any Obligor (other than a Permitted SBIC Guarantee), (ii) is
recourse to or obligates any Obligor in any way (other than in respect of any SBIC Equity Commitment or Permitted SBIC Guarantee),
or (iii) subjects any property of any Obligor, directly or indirectly, contingently or otherwise, to the satisfaction thereof,
and (b) no Obligor has any obligation to maintain or preserve such Subsidiary’s financial condition or cause such entity
to achieve certain levels of operating results. Any such designation by the Borrower shall be effected pursuant to a certificate
of a Financial Officer delivered to the Administrative Agent, which certificate shall include a statement to the effect that, to
the best of such officer’s knowledge, such designation complied with the foregoing conditions.

 

“Scheduled
Payment Date” means the 15th day of each calendar month beginning October 15, 2024, and continuing on
the 15th day of each calendar month thereafter through and including the Final Maturity Date.

 

“Screen
Rate” means the LIBO Screen Rate and the CAD Screen Rate collectively and individually as the context may require.

 

“Security
Documents” means, collectively, the Guarantee and Security Agreement, all Uniform Commercial Code financing statements
filed with respect to the security interests in personal property created pursuant to the Guarantee and Security Agreement and
all other assignments, pledge agreements, security agreements, control agreements and other instruments executed and delivered
on or after the date hereof by any of the Obligors pursuant to the Guarantee and Security Agreement or otherwise providing or relating
to any collateral security for any of the Secured Obligations under and as defined in the Guarantee and Security Agreement.

 

“Shareholders’
Equity” means, at any date, the amount determined on a consolidated basis, without duplication, in accordance with
GAAP, of shareholders equity for the Borrower and its Subsidiaries at such date.

 

    22

     

    

 

“SPE Subsidiary”
means a direct or indirect Subsidiary of the Borrower to which any Obligor sells, conveys or otherwise transfers (whether directly
or indirectly) Investments, which engages in no material activities other than in connection with the purchase or financing of
such assets and which is designated by the Borrower (as provided below) as an SPE Subsidiary:

 

(a)               
no portion of the Indebtedness or any other obligations (contingent or otherwise) of which (i) is Guaranteed by any Obligor
(other than Guarantees in respect of Standard Securitization Undertakings), (ii) is recourse to or obligates any Obligor in any
way other than pursuant to Standard Securitization Undertakings or (iii) subjects any property of any Obligor, directly or indirectly,
contingently or otherwise, to the satisfaction thereof, other than pursuant to Standard Securitization Undertakings or any Guarantee
thereof,

 

(b)               
with which no Obligor has any material contract, agreement, arrangement or understanding other than on terms no less favorable
to such Obligor than those that might be obtained at the time from Persons that are not Affiliates of any Obligor, other than fees
payable in the ordinary course of business in connection with servicing receivables, and

 

(c)               
to which no Obligor has any obligation to maintain or preserve such entity’s financial condition or cause such entity
to achieve certain levels of operating results.

 

Any such designation
by the Borrower shall be effected pursuant to a certificate of a Financial Officer delivered to the Administrative Agent, which
certificate shall include a statement to the effect that such designation complies with the foregoing conditions. Each Subsidiary
of an SPE Subsidiary shall be deemed to be an SPE Subsidiary and shall comply with the foregoing requirements of this definition.

 

“Special
Equity Interest” means any Equity Interest that is subject to a Lien in favor of creditors of the issuer of such
Equity Interest provided that (a) such Lien was created to secure Indebtedness owing by such issuer to such creditors, (b)
such Indebtedness was (i) in existence at the time the Obligors acquired such Equity Interest, (ii) incurred or assumed by such
issuer substantially contemporaneously with such acquisition or (iii) already subject to a Lien granted to such creditors and (c)
unless such Equity Interest is not intended to be included in the Collateral, the documentation creating or governing such Lien
does not prohibit the inclusion of such Equity Interest in the Collateral.

 

“Standard
Securitization Undertakings” means, collectively, (a) customary arms-length servicing obligations (together with
any related performance guarantees), (b) (i) obligations (together with any related performance guarantees) to refund the purchase
price or grant purchase price credits for dilutive events or misrepresentations (in each case unrelated to the collectibility of
the assets sold or the creditworthiness of the associated account debtors) or (ii) options to substitute conforming assets
for non-conforming assets and (c) representations, warranties, covenants and indemnities (together with any related performance
guarantees) of a type that are reasonably customary in accounts receivable securitizations or loan securitizations.

 

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

 

    23

     

    

 

“Subsidiary”
means, with respect to any Person (the “parent”) at any date, any corporation, limited liability company,
partnership, association or other entity the accounts of which would be consolidated with those of the parent in the parent’s
consolidated financial statements if such financial statements were prepared in accordance with GAAP as of such date, as well as
any other corporation, limited liability company, partnership, association or other entity (a) of which securities or other ownership
interests representing more than 50% of the equity or more than 50% of the ordinary voting power or, in the case of a partnership,
more than 50% of the general partnership interests are, as of such date, owned, controlled or held, or (b) that is, as of
such date, otherwise Controlled by the parent or one or more subsidiaries of the parent or by the parent and one or more subsidiaries
of the parent. Anything herein to the contrary notwithstanding, the term “Subsidiary” shall not include any Person
that constitutes an Investment held by the Borrower (i) (x) in the ordinary course of business or (y) that is listed on the Borrower’s
consolidated Schedule of Investments included in any filing with the Securities and Exchange Commission (or, for investments made
during a given quarter and before a consolidated Schedule of Investments is filed with respect to the end of such quarter, will
be listed on the Borrower’s consolidated Schedule of Investments to be filed with the Securities and Exchange Commission
with respect to the end of such quarter during which the Investment is made), including, without limitation, any such Schedule
of Investments filed (or to be filed) with any of the Borrower’s annual reports on Form 10-K, quarterly reports on Form 10-Q,
current reports on Form 8-K, registration statements, or prospectuses, and (ii) that is not, under GAAP, consolidated on the financial
statements of the Borrower and its Subsidiaries. Unless otherwise specified, “Subsidiary” means a Subsidiary of the
Borrower.

 

“Subsidiary
Guarantor” means any Subsidiary that is a Guarantor under the Guarantee and Security Agreement. It is understood
and agreed that no Financing Subsidiary, Immaterial Subsidiary or Foreign Subsidiary shall be a Subsidiary Guarantor, provided
that, such Subsidiaries do not own any Portfolio Investments included in the Borrowing Base.

 

“Swingline
Exposure” means, at any time, the aggregate principal amount of all Swingline Loans outstanding at such time. The
Swingline Exposure of any Lender at any time shall be its Applicable Dollar Percentage of the total Swingline Exposure.

 

“Swingline
Lender” means Amegy Bank, in its capacity as lender of Swingline Loans hereunder, and its successors in such capacity
as provided in Section 2.04(d).

 

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

 

“Syndicated”,
when used in reference to any Loan or Borrowing, refers to whether such Loan or the Loans constituting such Borrowing are made
pursuant to Section 2.01(a).

 

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

 

“Termination
Date” means the earliest to occur of (i) the Final Maturity Date, (ii) the date of the termination of the Commitments
in full pursuant to Section 2.08(c), or (iii) the date on which the Commitments are terminated pursuant to Article VII.

 

“Testing
Period” has the meaning assigned to such term in Section 5.12(b)(ii)(E)(x).

 

    24

     

    

 

“Transactions”
means the execution, delivery and performance by the Borrower of this Agreement and the other Loan Documents, the borrowing of
Loans, the use of the proceeds thereof and the issuance of Letters of Credit hereunder.

 

“Treasury
Credit Facility” means any limited recourse debt facility of the Borrower used by the Borrower to purchase U.S. Government
Securities maturing within ninety (90) days from the date of acquisition and secured solely by Cash and U.S. Government Securities
(and not secured by any Investments, Cash or other property, in each case that constitute Collateral hereunder or are included
in the Borrowing Base hereunder).

 

“Type”,
when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans constituting
such Borrowing, is determined by reference to the Adjusted LIBO Rate or the Alternate Base Rate.

 

“UK Financial
Institution” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to
time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook
(as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions
and investment firms, and certain affiliates of such credit institutions or investment firms.

 

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

 

“Undisclosed
Administration” means, in relation to a Lender, the appointment of an administrator, provisional liquidator, conservator,
receiver, trustee, custodian or other similar official by a supervisory authority or regulator under or based on the law in the
country where such Lender is subject to home jurisdiction supervision if applicable law requires that such appointment is not to
be publicly disclosed.

 

“Uniform
Commercial Code” means the Uniform Commercial Code as in effect from time to time in the State of New York.

 

“Unquoted
Investments” means a Portfolio Investment with a value assigned by the Borrower pursuant to Section 5.12(b)(ii)(B)
and confirmed by the report of the Approved Third-Party Appraiser.

 

“Unsecured
Longer-Term Indebtedness” means any Indebtedness for borrowed money (other than the Unsecured Notes Due 2022 or a
Permitted Refinancing thereof) of an Obligor (which may be Guaranteed by Subsidiary Guarantors) that (a) has no amortization prior
to, and a final maturity date not earlier than, six months after the Final Maturity Date after giving effect to any extension of
the Final Maturity Date at the time of incurrence but not after, (b) is incurred pursuant to documentation that is substantially
comparable to market terms for substantially similar debt of other similarly situated borrowers as determined by the Borrower in
its reasonable judgment, and (c) is not secured by any assets of any Obligor. It is understood and agreed that (i) conversion features
and conversion rights under convertible notes, (ii) the triggering and/or settlement of conversion rights upon the exercise
thereof or the repurchase of convertible notes by such Obligor at the option of the holder, or (iii) any cash payment made in respect
of a triggering or settlement of conversion rights upon the exercise thereof, shall not constitute “amortization” for
purposes of this clause (a).

 

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“Unsecured
Notes Due 2022” means the Borrower’s 5.75% Notes due September 15, 2022, issued pursuant to that certain Indenture
dated May 5, 2014 between the Borrower and U.S. Bank National Association, as supplemented.

 

“U.S. Government
Securities” means securities that are direct obligations of, and obligations the timely payment of principal and
interest on which is fully guaranteed by, the United States or any agency or instrumentality of the United States the obligations
of which are backed by the full faith and credit of the United States and in the form of conventional bills, bonds, and notes.

 

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

 

“Value”
has the meaning assigned to such term in Section 5.13.

 

“Withdrawal
Liability” means liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer
Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA.

 

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

 

Section 1.02           
Classification of Loans and Borrowings. For purposes of this Agreement, Loans may be classified and referred to by
Class (e.g., a “Syndicated Dollar Loan”), by Type (e.g., an “ABR Loan”) or by Class and Type (e.g., a “Syndicated
Dollar LIBOR Loan”). Borrowings also may be classified and referred to by Class (e.g., a “Dollar Borrowing”,
or “Syndicated Borrowing”), by Type (e.g., an “ABR Borrowing”) or by Class and Type (e.g., a “Syndicated
ABR Borrowing” or “Syndicated Dollar LIBOR Borrowing”). Loans and Borrowings may also be identified by Currency.

 

Section 1.03           
Terms Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the terms
defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The
words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without
limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”.
Unless the context requires otherwise (a) any definition of or reference to any agreement, instrument or other document herein
shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise
modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (b) any reference herein
to any Person shall be construed to include such Person’s successors and assigns, (c) the words “herein”, “hereof’
and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not
to any particular provision hereof, (d) all references herein to Articles, Sections, Exhibits and Schedules shall be construed
to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement and (e) the words “asset” and “property”
shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties,
including cash, securities, accounts and contract rights.

 

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Section 1.04           
Accounting Terms; GAAP. Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall
be construed in accordance with GAAP, as in effect from time to time; provided that, if the Borrower notifies the Administrative
Agent that the Borrower requests an amendment to any provision hereof to eliminate the effect of any change occurring after the
date hereof in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies
the Borrower that the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any
such notice is given before or after such change in GAAP or in the application thereof then such provision shall be interpreted
on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall
have been withdrawn or such provision amended in accordance herewith. The Borrower covenants and agrees with the Lenders that
whether or not the Borrower may at any time adopt Financial Accounting Standard No. 159 (or successor standard solely as it relates
to fair valuing liabilities) or accounts for liabilities acquired in an acquisition on a fair value basis pursuant to Financial
Accounting Standard No. 141(R) (or successor standard solely as it relates to fair valuing liabilities), all determinations of
compliance with the terms and conditions of this Agreement shall be made on the basis that the Borrower has not adopted Financial
Accounting Standard No. 159 (or such successor standard solely as it relates to fair valuing liabilities) or, in the case of liabilities
acquired in an acquisition, Financial Accounting Standard No. 141(R) (or such successor standard solely as it relates to fair
valuing liabilities).

 

Section 1.05           
Currencies; Currency Equivalents.

 

(a)               
Currencies Generally. At any time, any reference in the definition of the term “Agreed Foreign Currency”
or in any other provision of this Agreement to the Currency of any particular nation means the lawful currency of such nation at
such time whether or not the name of such Currency is the same as it was on the date hereof. Except as provided in Section 2.10(b)
and the last sentence of Section 2.17(a), for purposes of determining (i) whether the amount of any Multicurrency
Loans to be borrowed or any Multicurrency Letter of Credit to be issued, together with all other Multicurrency Loans and Multicurrency
Letters of Credit then outstanding at the same time, would exceed the aggregate amount of the Multicurrency Sublimit or the Applicable
Multicurrency Percentage, (ii) the aggregate unutilized amount of the Multicurrency Sublimit, (iii) the Revolving Credit Exposure,
(iv) the Multicurrency LC Exposure, (v) the Covered Debt Amount and (vi) the Borrowing Base or the Value or the fair market value
of any Portfolio Investment, the outstanding principal amount of any Borrowing or Letter of Credit that is denominated in any Foreign
Currency or the Value or the fair market value of any Portfolio Investment that is denominated in any Foreign Currency shall be
deemed to be the Dollar Equivalent of the amount of the Foreign Currency of such Borrowing, Letter of Credit or Portfolio Investment,
as the case may be, determined as of the date of such Borrowing or Letter of Credit (determined in accordance with the last sentence
of the definition of the term “Interest Period”) or the date of valuation of such Portfolio Investment, as the case
may be. Wherever in this Agreement in connection with a Borrowing or Loan an amount, such as a required minimum or multiple amount,
is expressed in Dollars, but such Borrowing or Loan is denominated in a Foreign Currency, such amount shall be the relevant Foreign
Currency Equivalent of such Dollar amount (rounded to the nearest 1,000 units of such Foreign Currency).

 

Article
II

THE CREDITS

 

Section 2.01           
The Commitments.

 

(a)                Syndicated
Loans. Subject to the terms and conditions set forth herein, each Dollar Lender severally agrees to make Syndicated Loans
in Dollars to the Borrower from time to time during the Availability Period in an aggregate principal amount that will not
result in (i) such Lender’s Revolving Credit Exposure exceeding such Lender’s Commitment, (ii) the aggregate
Revolving Credit Exposure of all of the Dollar Lenders exceeding the aggregate Commitments, or (iii) the total Covered Debt
Amount exceeding the Borrowing Base then in effect. Within the foregoing limits and subject to the terms and conditions set
forth herein, the Borrower may borrow, prepay and reborrow Syndicated Loans.

 

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(b)               
Multicurrency Loans. Subject to the terms and conditions set forth herein, each Multicurrency Lender severally agrees
to make Loans in the Agreed Foreign Currency to the Borrower from time to time during the Availability Period in an aggregate principal
amount that will not result in (i) the aggregate Revolving Multicurrency Credit Exposure exceeding the Multicurrency Sublimit,
(ii) such Multicurrency Lender exceeding its Applicable Multicurrency Percentage, (iii) the Revolving Credit Exposure of such Lender
exceeding its Commitment, (iv) the aggregate Revolving Credit Exposure of all of the Dollar Lenders exceeding the aggregate Commitments,
or (v) the total Covered Debt Amount exceeding the Borrowing Base then in effect. Within the foregoing limits and subject to the
terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Multicurrency Loans.

 

(c)               
Participations by Lenders in Multicurrency Loans. Each Multicurrency Lender may by written notice given to the Administrative
Agent not later than 10:00 a.m., Houston, Texas time on any Business Day, require the Lenders to acquire participations on such
Business Day in all or a portion of its Multicurrency Loans outstanding. Such notice to the Administrative Agent shall specify
the aggregate amount of Multicurrency Loans in which the Lenders will participate. Promptly upon receipt of such notice, the Administrative
Agent will give notice thereof to each Lender, specifying in such notice such Lender’s Applicable Dollar Percentage of such
Multicurrency Loan or Loans. Each Lender hereby absolutely and unconditionally agrees, upon receipt of notice as provided above
in this paragraph, to pay to the Administrative Agent, for account of such Multicurrency Lender, such Lender’s Applicable
Dollar Percentage of such Multicurrency Loan or Loans; provided that no Lender shall be required to purchase a participation
in a Multicurrency Loan pursuant to this Section 2.01(c) if (x) the conditions set forth in Section 4.02
would not be satisfied in respect of a Borrowing at the time such Multicurrency Loan was made and (y) the Required Lenders shall
have so notified such Multicurrency Lender in writing and shall not have subsequently determined that the circumstances giving
rise to such conditions not being satisfied no longer exist.

 

Subject to the foregoing,
each Lender acknowledges and agrees that its obligation to acquire participations in Multicurrency Loans pursuant to this paragraph (c)
is absolute and unconditional and shall not be affected by any circumstance whatsoever, including the occurrence and continuance
of a Default or an Event of Default or reduction or termination of the Commitments, and that each such payment shall be made without
any offset, abatement, withholding or reduction whatsoever. Each Lender shall comply with its obligation under this paragraph by
wire transfer of immediately available funds, in the same manner as provided in Section 2.06 with respect to
Loans made by such Lender (and Section 2.06 shall apply, mutatis mutandis, to the payment obligations
of the Lenders), and the Administrative Agent shall promptly pay to the Multicurrency Lender the amounts so received by it from
the Lenders. The Administrative Agent shall notify the Borrower of any participations in any Multicurrency Loan acquired pursuant
to this paragraph, and thereafter payments in respect of such Multicurrency Loan shall be made to the Administrative Agent and
not to the Multicurrency Lender. Any amounts received by the Multicurrency Lender from the Borrower (or other party on behalf of
the Borrower) in respect of a Multicurrency Loan after receipt by the Multicurrency Lender of the proceeds of a sale of participations
therein shall be promptly remitted to the Administrative Agent; any such amounts received by the Administrative Agent shall be
promptly remitted by the Administrative Agent to the Lenders that shall have made their payments pursuant to this paragraph and
to the Multicurrency Lender, as their interests may appear. The purchase of participations in a Multicurrency Loan pursuant to
this paragraph shall not relieve the Borrower of any default in the payment thereof.

 

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(d)               
 The Borrower acknowledges and agrees that an aggregate principal amount of “Loans” under and as defined in
the 2017 Credit Agreement (the “Existing Loans”) equal to $182,000,000, remains outstanding and shall
be continued as Loans hereunder as follows. Subject to the terms and conditions set forth herein, each Lender, severally and not
jointly, agrees that the Existing Loans made by such Lender under the 2017 Credit Agreement and outstanding on the Effective Date
immediately prior to giving effect to this Agreement shall remain outstanding on and after the Effective Date and shall be continued
as Loans in an equal principal amount deemed made pursuant to this Agreement on the Effective Date. The continuation of all or
a portion of a Lender’s Existing Loans shall be deemed to satisfy, dollar for dollar, such Lender’s obligation to make
Loans on the Effective Date. Such Existing Loans of each Lender shall hereafter be referred to as “Loans,” and on and
after the Effective Date shall have all of the rights and benefits of Loans as set forth in this Agreement and the other Loan Documents.

 

Section 2.02           
Loans and Borrowings.

 

(a)               
Obligations of Lenders. Each Syndicated Loan shall be made as part of a Borrowing consisting of Loans of the same
Class, Currency and Type made by the applicable Lenders ratably in accordance with their respective Commitments of the applicable
Class. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations
hereunder; provided that the Commitments of the Lenders are several and no Lender shall be responsible for any other Lender’s
failure to make Loans as required.

 

(b)               
Type of Loans. Subject to Section 2.13, each Syndicated Borrowing shall be constituted entirely
of ABR Loans or of Eurocurrency Loans of such Class denominated in a single Currency as the Borrower may request in accordance
herewith. Each ABR Loan shall be denominated in Dollars. Each Lender at its option may make any Eurocurrency Loan by causing any
domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall
not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement.

 

(c)               
Minimum Amounts. Each Eurocurrency Borrowing shall be in an aggregate amount of $1,000,000 or a larger multiple of
$250,000, and each ABR Borrowing (whether Syndicated or Swingline) shall be in an aggregate amount of $1,000,000 or a larger multiple
of $250,000; provided that a Syndicated ABR Borrowing may be in an aggregate amount that is equal to the entire unused balance
of the total Commitments or that is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.05(f).
Borrowings of more than one Class, Currency and Type may be outstanding at the same time.

 

(d)               
Limitations on Interest Periods. Notwithstanding any other provision of this Agreement, the Borrower shall not be
entitled to request (or to elect to convert to or continue as a Eurocurrency Borrowing) any Borrowing if the Interest Period requested
therefor would end after the Final Maturity Date.

 

(e)               
Treatment of Classes. Notwithstanding anything to the contrary contained herein, with respect to each Syndicated
Loan, Swingline Loan or Letter of Credit designated in Dollars, the Administrative Agent shall deem the Borrower to have requested
that such Syndicated Loan, Swingline Loan or Letter of Credit be applied ratably to the Commitments.

 

Section 2.03           
Requests for Syndicated Borrowings and Multicurrency Loans.

 

(a)                Notice
by the Borrower. To request a Syndicated Borrowing or Multicurrency Loan, the Borrower shall notify the Administrative
Agent of such request by telephone (i) in the case of a Eurocurrency Borrowing denominated in Dollars, not later than 10:00
a.m., Houston, Texas time, two Business Days before the date of the proposed Borrowing, (ii) in the case of a Eurocurrency
Borrowing denominated in a Foreign Currency, not later than 10:00 a.m., Houston, Texas time, three Business Days before the
date of the proposed Borrowing or (iii) in the case of a Syndicated ABR Borrowing, not later than 10:00 a.m., Houston, Texas
time, one Business Day before the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable
and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request in a
form approved by the Administrative Agent and signed by the Borrower.

 

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(b)               
Content of Borrowing Requests. Each telephonic and written Borrowing Request shall specify the following information
in compliance with Section 2.02:

 

(i)                
whether such Borrowing is to be made under the Multicurrency Sublimit;

 

(ii)              
the aggregate amount and Currency of the requested Borrowing;

 

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

 

(iv)             
in the case of a Syndicated Borrowing denominated in Dollars, whether such Borrowing is to be an ABR Borrowing or a Eurocurrency
Borrowing;

 

(v)               
in the case of a Eurocurrency Borrowing, the Interest Period therefor, which shall be a period contemplated by the definition
of the term “Interest Period” and permitted under Section 2.02(d); and

 

(vi)             
the location and number of the Borrower’s account to which funds are to be disbursed.

 

(c)               
Notice by the Administrative Agent to the Lenders. Promptly following receipt of a Borrowing Request in accordance
with this Section, the Administrative Agent shall advise each applicable Lender of the details thereof and of the amounts of such
Lender’s Loan to be made as part of the requested Borrowing.

 

(d)               
Failure to Elect. If no election as to the Class of a Borrowing is specified, then the requested Borrowing shall
be deemed to be a Borrowing of Dollar Loans. If no election as to the Currency of a Borrowing is specified, then the requested
Borrowing shall be denominated in Dollars. If no election as to the Type of a Borrowing is specified, then the requested Borrowing
shall be a Eurocurrency Borrowing having an Interest Period of one month and, if an Agreed Foreign Currency has been specified,
the requested Borrowing shall be a Eurocurrency Borrowing denominated in such Agreed Foreign Currency and having an Interest Period
of one month. If a Eurocurrency Borrowing is requested but no Interest Period is specified, (i) if the Currency specified for such
Borrowing is Dollars (or if no Currency has been so specified), the requested Borrowing shall be a Eurocurrency Borrowing denominated
in Dollars having an Interest Period of one month’s duration, and (ii) if the Currency specified for such Borrowing is an
Agreed Foreign Currency, the Borrower shall be deemed to have selected an Interest Period of one month’s duration.

 

Section 2.04           
Swingline Loans.

 

(a)                Agreement
to Make Swingline Loans. Subject to the terms and conditions set forth herein, the Swingline Lender agrees to make
Swingline Loans under the Commitments to the Borrower from time to time during the Availability Period in Dollars, in an
aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding
Swingline Loans exceeding $20,000,000, (ii) the total Revolving Credit Exposures exceeding the aggregate Commitments, or
(iii) the total Covered Debt Amount exceeding the Borrowing Base then in effect; provided that the Swingline Lender
shall not be required to make a Swingline Loan to refinance an outstanding Swingline Loan. Within the foregoing limits and
subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Swingline Loans.

 

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(b)               
Notice of Swingline Loans by the Borrower. To request a Swingline Loan, the Borrower shall notify the Administrative
Agent of such request by telephone (confirmed by telecopy) not later than 10:00 a.m., Houston, Texas time, on the day of such proposed
Swingline Loan. Each such notice shall be irrevocable and shall specify the requested date (which shall be a Business Day), the
amount of the requested Swingline Loan. The Administrative Agent will promptly advise the Swingline Lender of any such notice received
from the Borrower. The Swingline Lender shall make each Swingline Loan available to the Borrower by means of a credit to the general
deposit account of the Borrower with the Swingline Lender (or, in the case of a Swingline Loan made to finance the reimbursement
of an LC Disbursement as provided in Section 2.05(f), by remittance to the Issuing Bank) by 3:00 p.m., Houston,
Texas time, on the requested date of such Swingline Loan.

 

(c)               
Participations by Lenders in Swingline Loans. The Swingline Lender may by written notice given to the Administrative
Agent not later than 10:00 a.m., Houston, Texas time on any Business Day, require the Lenders to acquire participations on such
Business Day in all or a portion of the Swingline Loans outstanding. Such notice to the Administrative Agent shall specify the
aggregate amount of Swingline Loans in which the Lenders will participate. Promptly upon receipt of such notice, the Administrative
Agent will give notice thereof to each Lender, specifying in such notice such Lender’s Applicable Dollar Percentage of such
Swingline Loan or Loans. Each Lender hereby absolutely and unconditionally agrees, upon receipt of notice as provided above in
this paragraph, to pay to the Administrative Agent, for account of the Swingline Lender, such Lender’s Applicable Dollar
Percentage of such Swingline Loan or Loans; provided that no Lender shall be required to purchase a participation in a Swingline
Loan pursuant to this Section 2.04(c) if (x) the conditions set forth in Section 4.02 would
not be satisfied in respect of a Borrowing at the time such Swingline Loan was made and (y) the Required Lenders shall have so
notified the Swingline Lender in writing and shall not have subsequently determined that the circumstances giving rise to such
conditions not being satisfied no longer exist.

 

Subject to the foregoing,
each Lender acknowledges and agrees that its obligation to acquire participations in Swingline Loans pursuant to this paragraph (c)
is absolute and unconditional and shall not be affected by any circumstance whatsoever, including the occurrence and continuance
of a Default or an Event of Default or reduction or termination of the Commitments, and that each such payment shall be made without
any offset, abatement, withholding or reduction whatsoever. Each Lender shall comply with its obligation under this paragraph by
wire transfer of immediately available funds, in the same manner as provided in Section 2.06 with respect to
Loans made by such Lender (and Section 2.06 shall apply, mutatis mutandis, to the payment obligations
of the Lenders), and the Administrative Agent shall promptly pay to the Swingline Lender the amounts so received by it from the
Lenders. The Administrative Agent shall notify the Borrower of any participations in any Swingline Loan acquired pursuant to this
paragraph, and thereafter payments in respect of such Swingline Loan shall be made to the Administrative Agent and not to the Swingline
Lender. Any amounts received by the Swingline Lender from the Borrower (or other party on behalf of the Borrower) in respect of
a Swingline Loan after receipt by the Swingline Lender of the proceeds of a sale of participations therein shall be promptly remitted
to the Administrative Agent; any such amounts received by the Administrative Agent shall be promptly remitted by the Administrative
Agent to the Lenders that shall have made their payments pursuant to this paragraph and to the Swingline Lender, as their interests
may appear. The purchase of participations in a Swingline Loan pursuant to this paragraph shall not relieve the Borrower of any
default in the payment thereof.

 

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(d)               
 Resignation and Replacement of Swingline Lender. The Swingline Lender may resign and be replaced at any time by
written agreement among the Borrower, the Administrative Agent, the resigning Swingline Lender and the successor Swingline Lender.
The Administrative Agent shall notify the Lenders of any such resignation and replacement of the Swingline Lender. In addition
to the foregoing, if a Lender becomes, and during the period it remains, a Defaulting Lender, and if any Default has arisen from
a failure of the Borrower to comply with Section 2.19(a), then the Swingline Lender may, upon prior written
notice to the Borrower and the Administrative Agent, resign as Swingline Lender, effective at the close of business Houston, Texas
time on a date specified in such notice (which date may not be less than five (5) Business Days after the date of such notice).
On or after the effective date of any such resignation, the Borrower and the Administrative Agent may, by written agreement, appoint
a successor Swingline Lender. The Administrative Agent shall notify the Lenders of any such appointment of a successor Swingline
Lender. Upon the effectiveness of any resignation of the Swingline Lender, the Borrower shall repay in full all outstanding Swingline
Loans together with all accrued interest thereon. From and after the effective date of the appointment of a successor Swingline
Lender, (i) the successor Swingline Lender shall have all the rights and obligations of the replaced Swingline Lender under this
Agreement with respect to Swingline Loans to be made thereafter and (ii) references herein to the term “Swingline Lender”
shall be deemed to refer to such successor or to any previous Swingline Lender, or to such successor and all previous Swingline
Lenders, as the context shall require. After the replacement of the Swingline Lender hereunder, the replaced Swingline Lender shall
have no obligation to make additional Swingline Loans.

 

Section 2.05           
Letters of Credit.

 

(a)               
General. Subject to the terms and conditions set forth herein, in addition to the Loans provided for in Section 2.01,
the Borrower may request the Issuing Bank to issue, at any time and from time to time during the Availability Period, Letters of
Credit denominated in Dollars or in any Agreed Foreign Currency for its own account in such form as is acceptable to the Issuing
Bank in its reasonable determination. Letters of Credit issued hereunder shall constitute utilization of the Commitment of each
Lender and as applicable, the Multicurrency Sublimit, by an amount equal to such Lender’s Applicable Dollar Percentage of
the aggregate amount available to be drawn under such Letter of Credit.

 

(b)               
Notice of Issuance, Amendment, Renewal or Extension. To request the issuance of a Letter of Credit (or the amendment,
renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver or telecopy (or transmit by electronic
communication, if arrangements for doing so have been approved by the Issuing Bank) to the Issuing Bank and the Administrative
Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance
of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance,
amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall
comply with paragraph (d) of this Section), the amount and Currency of such Letter of Credit, the name and address
of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit.
If requested by the Issuing Bank, the Borrower also shall submit a letter of credit application on the Issuing Bank’s standard
form in connection with any request for a Letter of Credit. In the event of any inconsistency between the terms and conditions
of this Agreement and the terms and conditions of any form of letter of credit application or other agreement submitted by the
Borrower to, or entered into by the Borrower with, the Issuing Bank relating to any Letter of Credit, the terms and conditions
of this Agreement shall control.

 

(c)                Limitations
on Amounts. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment,
renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving
effect to such issuance, amendment, renewal or extension (i) the aggregate LC Exposure of the Issuing Bank (determined for
these purposes without giving effect to the participations therein of the Lenders pursuant to paragraph (e) of
this Section) shall not exceed $5,000,000, (ii) the total Revolving Credit Exposures shall not exceed the aggregate
Commitments, (iii) the total Revolving Multicurrency Credit Exposures shall not exceed the Multicurrency Sublimit and (iv)
the total Covered Debt Amount shall not exceed the Borrowing Base then in effect.

 

    32

     

    

 

(d)               
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve months
after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve months after
the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three months of such
then-current expiration date); provided that any Letter of Credit with a one-year term may provide for the renewal thereof
for additional one-year periods. Notwithstanding the foregoing, no Letter of Credit which expires after the Commitment Termination
Date shall be renewed and no Letter of Credit shall have an expiry date after the Final Maturity Date. If as of the Commitment
Termination Date, there are any Letters of Credit outstanding, the Borrower shall Cash Collateralize the then outstanding Letters
of Credit in accordance with Section 2.10(d). If as of the Final Maturity Date, there are any Letters of Credit outstanding
which are not fully Cash Collateralized, the Borrower shall cause such Letters of Credits to be fully Cash Collateralized on the
Final Maturity Date.

 

(e)               
Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount
thereof) by the Issuing Bank, and without any further action on the part of the Issuing Bank or the Lenders, the Issuing Bank hereby
grants to each Lender, and each Lender hereby acquires from the Issuing Bank, a participation in such Letter of Credit equal to
such Lender’s Applicable Dollar Percentage of the aggregate amount, or Dollar Equivalent thereof, available to be drawn under
such Letter of Credit. Each Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph
in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including
any amendment, renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination
of the applicable Commitments; provided that no Lender shall be required to purchase a participation in a Letter of Credit
pursuant to this Section 2.05(e) if (x) the conditions set forth in Section 4.02 would not
be satisfied in respect of a Borrowing at the time such Letter of Credit was issued and (y) the Required Lenders shall have so
notified the Issuing Bank in writing and shall not have subsequently determined that the circumstances giving rise to such conditions
not being satisfied no longer exist.

 

In consideration
and in furtherance of the foregoing, each Lender hereby absolutely and unconditionally agrees to pay to the Administrative
Agent, for account of the Issuing Bank, such Lender’s Applicable Dollar Percentage of each LC Disbursement, or Dollar
Equivalent thereof, made by the Issuing Bank in respect of Letters of Credit promptly upon the request of the Issuing Bank at
any time from the time of such LC Disbursement until such LC Disbursement is reimbursed by the Borrower or at any time after
any reimbursement payment is required to be refunded to the Borrower for any reason. Such payment shall be made without any
offset, abatement, withholding or reduction whatsoever. Each such payment shall be made in the same manner as provided in Section 2.06
with respect to Loans made by such Lender (and Section 2.06 shall apply, mutatis mutandis, to the
payment obligations of the Lenders), and the Administrative Agent shall promptly pay to the Issuing Bank the amounts so
received by it from the Lenders. Promptly following receipt by the Administrative Agent of any payment from the Borrower
pursuant to the next following paragraph, the Administrative Agent shall distribute such payment to the Issuing Bank or, to
the extent that the Lenders have made payments pursuant to this paragraph to reimburse the Issuing Bank, then to such Lenders
and the Issuing Bank as their interests may appear. Any payment made by a Lender pursuant to this paragraph to reimburse the
Issuing Bank for any LC Disbursement shall not constitute a Loan and shall not relieve the Borrower of its obligation to
reimburse such LC Disbursement.

 

    33

     

    

 

(f)                
Reimbursement. If the Issuing Bank shall make any LC Disbursement in respect of a Letter of Credit, the Borrower
shall reimburse the Issuing Bank in respect of such LC Disbursement by paying to the Administrative Agent an amount equal to such
LC Disbursement not later than 11:00 a.m., Houston, Texas time, on (i) the Business Day that the Borrower receives notice of such
LC Disbursement, if such notice is received prior to 10:00 a.m., Houston, Texas time, or (ii) the Business Day immediately following
the day that the Borrower receives such notice, if such notice is not received prior to such time; provided that, if such
LC Disbursement is not less than $1,000,000 and is denominated in Dollars, the Borrower may, subject to the conditions to borrowing
set forth herein, request in accordance with Section 2.03 or 2.04 that such payment be financed
with a Syndicated ABR Borrowing or a Swingline Loan in an equivalent amount and, to the extent so financed, the Borrower’s
obligation to make such payment shall be discharged and replaced by the resulting Syndicated ABR Borrowing or Swingline Loan.

 

If the Borrower fails
to make such payment when due, the Administrative Agent shall notify each Lender of the applicable LC Disbursement, or Dollar Equivalent
thereof, the payment then due from the Borrower in respect thereof and such Lender’s Applicable Dollar Percentage thereof.

 

(g)               
Obligations Absolute. The Borrower’s obligation to reimburse LC Disbursements as provided in paragraph (f)
of this Section shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms
of this Agreement under any and all circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of
any Letter of Credit, or any term or provision therein, (ii) any draft or other document presented under a Letter of Credit proving
to be forged, fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in any respect, (iii) payment
by the Issuing Bank under a Letter of Credit against presentation of a draft or other document that does not comply strictly with
the terms of such Letter of Credit, and (iv) any other event or circumstance whatsoever, whether or not similar to any of the foregoing,
that might, but for the provisions of this Section, constitute a legal or equitable discharge of the Borrower’s obligations
hereunder.

 

Neither the Administrative
Agent, the Lenders nor the Issuing Bank, nor any of their Related Parties, shall have any liability or responsibility by reason
of or in connection with the issuance or transfer of any Letter of Credit by the Issuing Bank or any payment or failure to make
any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission,
interruption, loss or delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter
of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical terms or any
consequence arising from causes beyond the control of the Issuing Bank; provided that the foregoing shall not be construed
to excuse the Issuing Bank from liability to the Borrower to the extent of any direct damages (as opposed to consequential damages,
claims in respect of which are hereby waived by the Borrower to the extent permitted by applicable law) suffered by the Borrower
that are caused by the Issuing Bank’s gross negligence or willful misconduct when determining whether drafts and other documents
presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree that:

 

(i)                
the Issuing Bank may accept documents that appear on their face to be in substantial compliance with the terms of a Letter
of Credit without responsibility for further investigation, regardless of any notice or information to the contrary, and may make
payment upon presentation of documents that appear on their face to be in substantial compliance with the terms of such Letter
of Credit;

 

    34

     

    

 

(ii)              
 the Issuing Bank shall have the right, in its sole discretion, to decline to accept such documents and to make such payment
if such documents are not in strict compliance with the terms of such Letter of Credit; and

 

(iii)            
this sentence shall establish the standard of care to be exercised by the Issuing Bank when determining whether drafts and
other documents presented under a Letter of Credit comply with the terms thereof (and the parties hereto hereby waive, to the extent
permitted by applicable law, any standard of care inconsistent with the foregoing).

 

(h)               
Disbursement Procedures. The Issuing Bank shall, within a reasonable time following its receipt thereof, examine
all documents purporting to represent a demand for payment under a Letter of Credit. The Issuing Bank shall promptly after such
examination notify the Administrative Agent and the Borrower by telephone (confirmed by telecopy) of such demand for payment and
whether the Issuing Bank has made or will make an LC Disbursement thereunder; provided that any failure to give or delay
in giving such notice shall not relieve the Borrower of its obligation to reimburse the Issuing Bank and the applicable Lenders
with respect to any such LC Disbursement.

 

(i)                
Interim Interest. If the Issuing Bank shall make any LC Disbursement, then, unless the Borrower shall reimburse such
LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from
and including the date such LC Disbursement is made to but excluding the date that the Borrower reimburses such LC Disbursement,
at the rate per annum then applicable to Syndicated ABR Loans; provided that, if the Borrower fails to reimburse such LC
Disbursement within two Business Days following the date when due pursuant to paragraph (f) of this Section, then the
provisions of Section 2.12(c) shall apply. Interest accrued pursuant to this paragraph shall be for account
of the Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (f)
of this Section to reimburse the Issuing Bank shall be for account of such Lender to the extent of such payment.

 

(j)                
Resignation and/or Replacement of Issuing Bank. The Issuing Bank may resign and be replaced at any time by written
agreement among the Borrower, the Administrative Agent, the resigning Issuing Bank and the successor Issuing Bank. The Administrative
Agent shall notify the Lenders of any such resignation and replacement of the Issuing Bank. Upon the effectiveness of any resignation
of the Issuing Bank, the Borrower shall pay all unpaid fees accrued for account of the resigning Issuing Bank pursuant to Section 2.11(b).
From and after the effective date of the appointment of a successor Issuing Bank, (i) the successor Issuing Bank shall have all
the rights and obligations of the replaced Issuing Bank under this Agreement with respect to Letters of Credit to be issued thereafter
and (ii) references herein to the term “Issuing Bank” shall be deemed to refer to such successor or to any previous
Issuing Bank, or to such successor and all previous Issuing Banks, as the context shall require. After the effective resignation
of the Issuing Bank hereunder, the resigning Issuing Bank, as the case may be, shall remain a party hereto and shall continue to
have all the rights and obligations of the Issuing Bank under this Agreement with respect to Letters of Credit issued by it prior
to such resignation, but shall not be required to issue additional Letters of Credit.

 

(k)                Cash
Collateralization. If the Borrower shall be required to provide Cash Collateral for LC Exposure pursuant to Section 2.05(d), Section 2.09(a), Section 2.10(b)
or (c) or the last paragraph of Article VII, the Borrower shall immediately deposit into a
segregated collateral account or accounts (herein, collectively, the “Letter of Credit Collateral
Account”) in the name and under the dominion and control of the Administrative Agent Cash denominated in the
Currency of the Letter of Credit under which such LC Exposure arises in an amount equal to the amount required under Section 2.09(a), Section 2.10(b) or (c)
or the last paragraph of Article VII, as applicable. Such deposit shall be held by the Administrative
Agent as collateral in the first instance for the LC Exposure under this Agreement and thereafter for the payment of the
 “Secured Obligations” under and as defined in the Guarantee and Security Agreement, and for these purposes the
Borrower hereby grants a security interest to the Administrative Agent for the benefit of the Lenders in the Letter of Credit
Collateral Account and in any financial assets (as defined in the Uniform Commercial Code) or other property held
therein.

 

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Section 2.06           
Funding of Borrowings.

 

(a)               
Funding by Lenders. Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire
transfer of immediately available funds by 1:00 p.m., Houston, Texas time, to the account of the Administrative Agent most recently
designated by it for such purpose by notice to the Lenders; provided that Swingline Loans shall be made as provided in Section 2.04.
The Administrative Agent will make such Loans available to the Borrower by promptly crediting the amounts so received, in like
funds, to an account of the Borrower designated by the Borrower in the applicable Borrowing Request; provided that Syndicated
ABR Borrowings made to finance the reimbursement of an LC Disbursement as provided in Section 2.05(f) shall
be remitted by the Administrative Agent to the Issuing Bank.

 

(b)               
Presumption by the Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender
prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s
share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance
with paragraph (a) of this Section and may, in reliance upon such assumption, make available to the Borrower a corresponding
amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent,
then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding
amount with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding
the date of payment to the Administrative Agent, at (i) in the case of such Lender, the Federal Funds Effective Rate or (ii) in
the case of the Borrower, the interest rate applicable to ABR Loans. If such Lender pays such amount to the Administrative Agent,
then such amount shall constitute such Lender’s Loan included in such Borrowing.

 

Section 2.07           
Interest Elections.

 

(a)               
Elections by the Borrower for Syndicated Borrowings. Subject to Section 2.03(d), the Loans constituting
each Syndicated Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurocurrency
Borrowing, shall have the Interest Period specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such
Borrowing to a Borrowing of a different Type or to continue such Borrowing as a Borrowing of the same Type and, in the case of
a Eurocurrency Borrowing, may elect the Interest Period therefor, all as provided in this Section; provided, however,
that (i) a Syndicated Borrowing may only be continued or converted into a Syndicated Borrowing, (ii) a Borrowing denominated in
one Currency may not be continued as, or converted to, a Borrowing in a different Currency, (iii) no Eurocurrency Borrowing denominated
in a Foreign Currency may be continued if, after giving effect thereto, the aggregate Revolving Multicurrency Credit Exposures
would exceed the aggregate Multicurrency Sublimit, and (iv) a Eurocurrency Borrowing denominated in a Foreign Currency may not
be converted to a Borrowing of a different Type. The Borrower may elect different options with respect to different portions of
the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans constituting
such Borrowing, and the Loans constituting each such portion shall be considered a separate Borrowing. This Section shall not apply
to Swingline Borrowings, which may not be converted or continued.

 

    36

     

    

 

(b)               
 Notice of Elections. To make an election pursuant to this Section, the Borrower shall notify the Administrative
Agent of such election by telephone by the time that a Borrowing Request would be required under Section 2.03
if the Borrower were requesting a Syndicated Borrowing of the Type resulting from such election to be made on the effective date
of such election. Each such telephonic Interest Election Request shall be irrevocable and shall be confirmed promptly (but no later
than the close of business on the date of such request) by hand delivery or telecopy to the Administrative Agent of a written Interest
Election Request in a form approved by the Administrative Agent and signed by the Borrower.

 

(c)               
Content of Interest Election Requests. Each telephonic and written Interest Election Request shall specify the following
information in compliance with Section 2.02:

 

(i)                
the Borrowing (including the Class) to which such Interest Election Request applies and, if different options are being
elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which
case the information to be specified pursuant to clauses (iii) and (iv) of this paragraph shall be specified for
each resulting Borrowing);

 

(ii)              
the effective date of the election made pursuant to such Interest Election Request, which shall be a Business Day;

 

(iii)            
whether, in the case of a Borrowing denominated in Dollars, the resulting Borrowing is to be an ABR Borrowing or a Eurocurrency
Borrowing; and

 

(iv)             
if the resulting Borrowing is a Eurocurrency Borrowing, the Interest Period therefor after giving effect to such election,
which shall be a period contemplated by the definition of the term “Interest Period” and permitted under Section 2.02(d).

 

(d)               
Notice by the Administrative Agent to the Lenders. Promptly following receipt of an Interest Election Request, the
Administrative Agent shall advise each applicable Lender of the details thereof and of such Lender’s portion of each resulting
Borrowing.

 

(e)               
Failure to Elect; Events of Default. If the Borrower fails to deliver a timely and complete Interest Election Request
with respect to a Eurocurrency Borrowing prior to the end of the Interest Period therefor, then, unless such Borrowing is repaid
as provided herein, (i) if such Borrowing is denominated in Dollars, at the end of such Interest Period such Borrowing shall be
converted to a Syndicated Eurocurrency Borrowing of the same Class having an Interest Period of one month, and (ii) if such Borrowing
is denominated in a Foreign Currency, the Borrower shall be deemed to have selected an Interest Period of one month’s duration.
Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing, (i) any Eurocurrency Borrowing
denominated in Dollars shall, at the end of the applicable Interest Period for such Eurocurrency Borrowing, be automatically converted
to an ABR Borrowing and (ii) any Eurocurrency Borrowing denominated in a Foreign Currency shall not have an Interest Period of
more than one month’s duration.

 

Section 2.08           
Termination, Reduction or Increase of the Commitments.

 

(a)               
Scheduled Termination. Unless previously terminated, the Commitments of each Class shall terminate on the Commitment
Termination Date.

 

(b)                Voluntary
Termination or Reduction. The Borrower may at any time terminate, or from time to time reduce, the Commitments of either
Class; provided that (i) each reduction of the Commitments shall be in an amount that is $5,000,000 (or, if less, the
entire amount of the Commitments of such Class) or a larger multiple of $1,000,000 in excess thereof and (ii) the Borrower
shall not terminate or reduce the Commitments of either Class if, after giving effect to any concurrent prepayment of the
Syndicated Loans of such Class in accordance with Section 2.10, the total Revolving Credit Exposures of
such Class would exceed the total Commitments of such Class. Any such reduction of the Commitments below the principal amount
of the Swingline Loans permitted under Section 2.04(a)(i) and the Letters of Credit permitted under Section 2.05(c)(i) shall
result in a dollar-for-dollar reduction of such amounts as applicable.

 

    37

     

    

 

(c)               
Notice of Voluntary Termination or Reduction. The Borrower shall notify the Administrative Agent of any election
to terminate or reduce the Commitments under paragraph (b) of this Section at least three Business Days prior to the
effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt
of any notice, the Administrative Agent shall advise the applicable Lenders of the contents thereof. Each notice delivered by the
Borrower pursuant to this Section shall be irrevocable; provided that a notice of termination of the Commitments delivered
by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such
notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such
condition is not satisfied.

 

(d)               
Effect of Termination or Reduction. Any termination or reduction of the Commitments shall be permanent. Each reduction
of the Commitments shall be made ratably among the Lenders of such Class in accordance with their respective Commitments.

 

(e)               
Increase of the Commitments.

 

(i)                
Requests for Increase by Borrower. The Borrower may, at any time, request that the Commitments hereunder be increased
(each such proposed increase being a “Commitment Increase”), upon notice to the Administrative Agent
(who shall promptly notify the Lenders), which notice shall specify each existing Lender (each an “Increasing Lender”)
and/or each additional lender (each an “Assuming Lender”) that shall have agreed to an additional Commitment
and the date on which such increase is to be effective (the “Commitment Increase Date”), which shall
be a Business Day at least three Business Days (or such lesser period as the Administrative Agent may reasonably agree) after delivery
of such notice and 30 days prior to the Commitment Termination Date; provided that:

 

(A)             
the minimum amount of the Commitment of any Assuming Lender, and the minimum amount of the increase of the Commitment of
any Increasing Lender, as part of such Commitment Increase shall be $10,000,000 or a larger multiple of $5,000,000 in excess thereof
(or such lesser amount as the Administrative Agent may reasonably agree);

 

(B)             
immediately after giving effect to such Commitment Increase, the total Commitments of all of the Lenders hereunder shall
not exceed $280,000,000;

 

(C)             
each Assuming Lender shall be consented to by the Administrative Agent and the Issuing Bank (such consent not to be unreasonably
withheld);

 

(D)             
no Default or Event of Default shall have occurred and be continuing on such Commitment Increase Date or shall result from
the proposed Commitment Increase; and

 

    38

     

    

 

(E)              
 the representations and warranties contained in this Agreement shall be true and correct in all material respects (or,
in the case of any portion of the representations and warranties already subject to a materiality qualifier, true and correct in
all respects) on and as of the Commitment Increase Date as if made on and as of such date (or, if any such representation or warranty
is expressly stated to have been made as of a specific date, as of such specific date).

 

(ii)              
Effectiveness of Commitment Increase by Borrower. An Assuming Lender, if any, shall become a Lender hereunder as
of such Commitment Increase Date and the Commitment of any Increasing Lender and such Assuming Lender shall be increased as of
such Commitment Increase Date; provided that:

 

(x)       the
Administrative Agent shall have received on or prior to 10:00 a.m., Houston, Texas time, on such Commitment Increase Date (or on
or prior to a time on an earlier date specified by the Administrative Agent) a certificate of a duly authorized officer of the
Borrower stating that each of the applicable conditions to such Commitment Increase set forth in the foregoing paragraph (i)
has been satisfied; and

 

(y)       each
Assuming Lender or Increasing Lender shall have delivered to the Administrative Agent, on or prior to 10:00 a.m., Houston, Texas
time on such Commitment Increase Date (or on or prior to a time on an earlier date specified by the Administrative Agent), an agreement,
in form and substance satisfactory to the Borrower and the Administrative Agent, pursuant to which such Lender shall, effective
as of such Commitment Increase Date, undertake a Commitment or an increase of Commitment, duly executed by such Assuming Lender
or Increasing Lender, as applicable, and the Borrower and acknowledged by the Administrative Agent.

 

Promptly following satisfaction
of such conditions, the Administrative Agent shall notify the Lenders of such Class (including any Assuming Lenders) thereof and
of the occurrence of the Commitment Increase Date by facsimile transmission or electronic messaging system.

 

(iii)            
Recordation into Register. Upon its receipt of an agreement referred to in clause (ii)(y) above executed
by an Assuming Lender or any Increasing Lender, together with the certificate referred to in clause (ii)(x) above,
the Administrative Agent shall, if such agreement has been completed, (x) accept such agreement, (y) record the information contained
therein in the Register and (z) give prompt notice thereof to the Borrower.

 

(iv)              Adjustments
of Borrowings upon Effectiveness of Increase. On the Commitment Increase Date, the Borrower shall (A) prepay the
outstanding Loans (if any) of the affected Class in full, (B) simultaneously borrow new Loans of such Class hereunder in an
amount equal to such prepayment; provided that with respect to subclauses (A) and (B), (x) the
prepayment to, and borrowing from, any existing Lender shall be effected by book entry to the extent that any portion of the
amount prepaid to such Lender will be subsequently borrowed from such Lender and (y) the existing Lenders, the Increasing
Lenders and the Assuming Lenders shall make and receive payments among themselves, in a manner acceptable to the
Administrative Agent, so that, after giving effect thereto, the Loans of such Class are held ratably by the Lenders of such
Class in accordance with the respective Commitments of such Class of such Lenders (after giving effect to such Commitment
Increase) and (C) pay to the Lenders of such Class the amounts, if any, payable under Section 2.15 as a
result of any such prepayment. Concurrently therewith, the Lenders of such Class shall be deemed to have adjusted their
participation interests in any outstanding Letters of Credit of such Class so that such interests are held ratably in
accordance with their commitments of such Class as so increased.

 

    39

     

    

 

Section 2.09           
Repayment of Loans; Evidence of Debt.

 

(a)               
Repayment. The Borrower hereby unconditionally promises to pay the Loans of each Class as follows:

 

(i)                
to the Administrative Agent for the account of the Lenders of such Class the outstanding principal amount of the Syndicated
Loans of such Class on the Final Maturity Date; and

 

(ii)              
to the Administrative Agent for the account of the Swingline Lender the then unpaid principal amount of each Swingline Loan
of such Class denominated in Dollars, on the earlier of the Final Maturity Date and the fifth Business Day after such Swingline
Loan is made; provided that, on each date that a Syndicated Borrowing of such Class is made, the Borrower shall repay all
Swingline Loans of such Class then outstanding and the proceeds of any such Syndicated Borrowing shall be applied by the Administrative
Agent to repay any Swingline Loans of such Class outstanding.

 

In addition, when Cash
Collateral is required under this Agreement, the Borrower shall deposit Cash into the Letter of Credit Collateral Account (denominated
in the Currency of the Letter of Credit under which such LC Exposure arises) in an amount equal to 100% of the LC Exposure (or
such lesser portion thereof in the case of Section 2.10(d) only), such deposit to be held by the Administrative Agent
as collateral security for the LC Exposure under this Agreement.

 

(b)               
Manner of Payment. Prior to any repayment or prepayment of any Borrowings of any Class hereunder, the Borrower shall
select the Borrowing or Borrowings of such Class to be paid and shall notify the Administrative Agent by telephone (confirmed by
telecopy) of such selection not later than the time set forth in Section 2.10(e) prior to the scheduled date
of such repayment; provided that each repayment of Borrowings of a Class shall be applied to repay any outstanding ABR Borrowings
of such Class before any other Borrowings of such Class. If the Borrower fails to make a timely selection of the Borrowing or Borrowings
to be repaid or prepaid, such payment shall be applied, first, to pay any outstanding ABR Borrowings of the applicable Class and,
second, to other Borrowings of such Class in the order of the remaining duration of their respective Interest Periods (the Borrowing
with the shortest remaining Interest Period to be repaid first). Each payment of a Syndicated Borrowing shall be applied ratably
to the Loans included in such Borrowing.

 

(c)               
Maintenance of Records by Lenders. Each Lender shall maintain in accordance with its usual practice records evidencing
the indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender, including the amounts and Currency
of principal and interest payable and paid to such Lender from time to time hereunder.

 

(d)               
Maintenance of Records by the Administrative Agent. The Administrative Agent shall maintain records in which it shall
record (i) the amount and Currency of each Loan made hereunder, the Class and Type thereof and each Interest Period therefor, (ii)
the amount and Currency of any principal or interest due and payable or to become due and payable from the Borrower to each Lender
of such Class hereunder and (iii) the amount and Currency of any sum received by the Administrative Agent hereunder for account
of the Lenders and each Lender’s share thereof.

 

    40

     

    

 

(e)               
 Effect of Entries. The entries made in the records maintained pursuant to paragraph (c) or (d)
of this Section shall be prima facie evidence, absent obvious error, of the existence and amounts of the obligations recorded
therein; provided that the failure of any Lender or the Administrative Agent to maintain such records or any error therein
shall not in any manner affect the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement.

 

(f)                
Promissory Notes. Any Lender may request that Loans of any Class made by it be evidenced by a Note; in such event,
the Borrower shall prepare, execute and deliver to such Lender a Note payable to such Lender (or, if requested by such Lender,
to such Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced
by such Note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be
represented by one or more Notes in such form payable to the payee named therein (or, if such Note is a registered note, to such
payee and its registered assigns).

 

Section 2.10           
Prepayment of Loans.

 

(a)               
Optional Prepayments. The Borrower shall have the right at any time and from time to time to prepay any Borrowing
in whole or in part, without premium or penalty except for payments under Section 2.15, subject to the requirements
of this Section.

 

(b)               
Mandatory Prepayments due to Changes in Exchange Rates.

 

(i)                
Determination of Amount Outstanding. On each Quarterly Date and, in addition, promptly upon the receipt by the Administrative
Agent of a Currency Valuation Notice (as defined below), the Administrative Agent shall determine the aggregate Revolving Multicurrency
Credit Exposure. For the purpose of this determination, the outstanding principal amount of any Loan that is denominated in any
Foreign Currency shall be deemed to be the Dollar Equivalent of the amount in the Foreign Currency of such Loan, determined as
of such Quarterly Date or, in the case of a Currency Valuation Notice received by the Administrative Agent prior to 10:00 a.m.,
Houston, Texas time, on a Business Day, on such Business Day or, in the case of a Currency Valuation Notice otherwise received,
on the first Business Day after such Currency Valuation Notice is received. Upon making such determination, the Administrative
Agent shall promptly notify the Multicurrency Lenders and the Borrower thereof.

 

(ii)              
Prepayment. If on the date of such determination the aggregate Revolving Multicurrency Credit Exposure minus
the Multicurrency LC Exposure fully Cash Collateralized on such date exceeds 105% of the aggregate amount of the Multicurrency
Sublimit as then in effect, the Borrower shall, if requested by any Multicurrency Lender (through the Administrative Agent), prepay
the Multicurrency Loans (and/or provide Cash Collateral for Multicurrency LC Exposure as specified in Section 2.05(k))
within 15 Business Days following the Borrower’s receipt of such request in such amounts as shall be necessary so that after
giving effect thereto the aggregate Revolving Multicurrency Credit Exposure does not exceed the Multicurrency Sublimit.

 

For purposes hereof “Currency
Valuation Notice” means a notice given by any Multicurrency Lender to the Administrative Agent stating that such
notice is a “Currency Valuation Notice” and requesting that the Administrative Agent determine the aggregate Revolving
Multicurrency Credit Exposure. The Administrative Agent shall not be required to make more than one valuation determination pursuant
to Currency Valuation Notices within any rolling three month period.

 

Any prepayment pursuant
to this paragraph shall be applied, first to Multicurrency Loans outstanding and second, as cover for Multicurrency
LC Exposure.

 

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(c)               
 Mandatory Prepayments due to Borrowing Base Deficiency. In the event that at any time any Borrowing Base Deficiency
shall exist, the Borrower shall, within five Business Days after delivery of the applicable Borrowing Base Certificate, prepay
the Loans (or provide Cash Collateral for Letters of Credit as contemplated by Section 2.05(k)) in such amounts
as shall be necessary so that such Borrowing Base Deficiency is cured, and (ii) if, within five Business Days after delivery of
a Borrowing Base Certificate demonstrating such Borrowing Base Deficiency, the Borrower shall present the Lenders with a reasonably
feasible plan acceptable to the Required Lenders in their sole discretion to enable such Borrowing Base Deficiency to be cured
within 30 Business Days (which 30-Business Day period shall include the five Business Days permitted for delivery of such plan),
then such prepayment or reduction shall not be required to be effected immediately but may be effected in accordance with such
plan (with such modifications as the Borrower may reasonably determine), so long as such Borrowing Base Deficiency is cured within
such 30-Business Day period.

 

(d)               
Scheduled Payments. On each Scheduled Payment Date, the Borrower shall repay the Loans in an aggregate amount equal
to 1/12 of the aggregate outstanding amount of Loans, and Cash Collateralize 1/12 of the LC Exposure, for each Class and Currency
of Loans and Letters of Credit outstanding, based on the outstanding Loans and Letters of Credit as of the Commitment Termination
Date. Following the Commitment Termination Date, any other optional or mandatory prepayment of Loans (or Cash Collateralization
or expiration of outstanding Letters of Credit) will reduce in direct order the amount of any subsequent repayment of Loans or
Cash Collateralization of Letters of Credit required to be made pursuant to this clause (d).

 

(e)               
Notices, Etc. The Borrower shall notify the Administrative Agent (and, in the case of prepayment of a Swingline Loan,
the Swingline Lender) by telephone (confirmed by telecopy) of any prepayment hereunder (i) in the case of prepayment of a Eurocurrency
Borrowing denominated in Dollars (other than in the case of a prepayment pursuant to Section  2.10(d)), not
later than 10:00 a.m., Houston, Texas time, three Business Days before the date of prepayment, (ii) in the case of prepayment of
a Eurocurrency Borrowing denominated in a Foreign Currency (other than in the case of a prepayment pursuant to Section 2.10(d)),
not later than 10:00 a.m., London time, four Business Days before the date of prepayment, (iii) in the case of prepayment of a
Syndicated ABR Borrowing, not later than 11:00 a.m., Houston, Texas time, one Business Day before the date of prepayment, or (iv)
in the case of prepayment of a Swingline Loan, not later than 10:00 a.m., Houston, Texas time, on the date of prepayment. Each
such notice shall be irrevocable and shall specify the prepayment date, the principal amount of each Borrowing or portion thereof
to be prepaid and, in the case of a mandatory prepayment, a reasonably detailed calculation of the amount of such prepayment; provided
that, if a notice of prepayment is given in connection with a conditional notice of termination of the Commitments as contemplated
by Section 2.08, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance
with Section 2.08. Promptly following receipt of any such notice relating to a Syndicated Borrowing, the Administrative
Agent shall advise the affected Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount
that would be permitted in the case of a Borrowing of the same Type as provided in Section 2.02 or in the case
of a Swingline Loan, as provided in Section 2.04, except as necessary to apply fully the required amount of
a mandatory prepayment. Each prepayment of a Syndicated Borrowing shall be applied ratably to the Loans included in the prepaid
Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.12 and shall
be made in the manner specified in Section 2.09(b).

 

Section 2.11           
Fees.

 

(a)               
Commitment Fee. The Borrower agrees to pay to the Administrative Agent for account of each Lender a commitment fee,
which shall accrue at a rate per annum equal to 0.50% on the average daily unused amount of the Commitment of such Lender during
the period from and including the datehereof to but excluding the earlier of the date such commitment terminates and the Commitment
Termination Date. Accrued commitment fees shall be payable on each Quarterly Date and on the earlier of the date the Commitments
terminate and the Commitment Termination Date, commencing on the first such date to occur after the date hereof. All commitment
fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including
the first day but excluding the last day). For purposes of computing commitment fees, the Commitment of a Lender shall be deemed
to be used to the extent of the outstanding Syndicated Loans and LC Exposure of such Lender (and the Swingline Exposure of such
Lender shall be disregarded for such purpose).

 

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(b)               
Letter of Credit Fees. The Borrower agrees to pay (i) to the Administrative Agent for the account of each Lender
a participation fee with respect to its participations in Letters of Credit of each Class, which shall accrue at a rate per annum
equal to the Applicable Margin applicable to interest on Eurocurrency Loans on the average daily amount of such Lender’s
LC Exposure of such Class (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from
and including the Effective Date to but excluding the later of the date on which such Lender’s Commitment of such Class terminates
and the date on which such Lender ceases to have any LC Exposure of such Class, and (ii) to the Issuing Bank a fronting fee, which
shall accrue at the rate of 0.25% per annum on the average daily amount of the LC Exposure (excluding any portion thereof attributable
to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date
of termination of the Commitments and the date on which there ceases to be any LC Exposure, as well as the Issuing Bank’s
standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder.
Participation fees and fronting fees accrued through and including each Quarterly Date shall be payable on such Quarterly Date,
commencing on the first such date to occur after the Effective Date; provided that all such fees with respect to the Letters
of Credit shall be payable on the Termination Date and the Borrower shall pay any such fees that have accrued and that are unpaid
on the Termination Date and, in the event any Letters of Credit shall be outstanding that have expiration dates after the Termination
Date, the Borrower shall prepay on the Termination Date the full amount of the participation and fronting fees that will accrue
on such Letters of Credit subsequent to the Termination Date through but not including the date such outstanding Letters of Credit
are scheduled to expire (and, in that connection, the Lenders agree not later than the date two Business Days after the date upon
which the last such Letter of Credit shall expire or be terminated to rebate to the Borrower the excess, if any, of the aggregate
participation and fronting fees that have been prepaid by the Borrower over the sum of the amount of such fees that ultimately
accrue through the date of such expiration or termination and the aggregate amount of all other unpaid obligations hereunder at
such time). Any other fees payable to the Issuing Bank pursuant to this paragraph shall be payable within 10 days after demand.
All participation fees and fronting fees shall be computed on the basis of a year of 360 days and shall be payable for the actual
number of days elapsed (including the first day but excluding the last day).

 

(c)               
Administrative Agent Fees. The Borrower agrees to pay to the Administrative Agent, for its own account, fees payable
in the amounts and at the times separately agreed upon between the Borrower and the Administrative Agent.

 

(d)               
Payment of Fees. All fees payable hereunder shall be paid on the dates due, in Dollars (or, at the election of the
Borrower with respect to any fees payable to the Issuing Bank on account of Letters of Credit issued in any Foreign Currency, in
such Foreign Currency) and immediately available funds, to the Administrative Agent (or to the Issuing Bank, in the case of fees
payable to it) for distribution, in the case of commitment fees and participation fees, to the Lenders entitled thereto. Fees paid
shall not be refundable under any circumstances absent obvious error.

 

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Section 2.12           
Interest.

 

(a)               
ABR Loans. The Loans constituting each ABR Borrowing (including each Swingline Loan) shall bear interest at a rate
per annum equal to the Alternate Base Rate plus the Applicable Margin.

 

(b)               
Eurocurrency Loans. The Loans constituting each Eurocurrency Borrowing shall bear interest at a rate per annum equal
to the Adjusted LIBO Rate for the related Interest Period for such Borrowing plus the Applicable Margin.

 

(c)               
Default Interest. Notwithstanding the foregoing, if any Event of Default has occurred and is continuing, the interest
rates applicable to Loans and any fee or other amount payable by the Borrower hereunder shall bear interest, after as well as before
judgment, at a rate per annum equal to (i) in the case of principal of any Loan, 2% plus the rate otherwise applicable to
such Loan as provided above, (ii) in the case of any Letter of Credit, 2% plus the fee otherwise applicable to such Letter
of Credit as provided in Section 2.11(b)(i), or (iii) in the case of any fee or other amount, 2% plus
the rate applicable to ABR Loans as provided in paragraph (a) of this Section.

 

(d)               
Payment of Interest. Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for
such Loan in the Currency in which such Loan is denominated and, in the case of Syndicated Loans, upon the Termination Date; provided
that (i) interest accrued pursuant to paragraph (c) of this Section shall be payable on demand, (ii) in the event of
any repayment or prepayment of any Loan (other than a prepayment of a Syndicated ABR Loan prior to the Final Maturity Date), accrued
interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment and (iii) in the
event of any conversion of any Eurocurrency Borrowing denominated in Dollars prior to the end of the Interest Period therefor,
accrued interest on such Borrowing shall be payable on the effective date of such conversion.

 

(e)               
Computation. All interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed
(i) by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate and (ii) on Multicurrency
Loans denominated in an Agreed Foreign Currency shall be computed on the basis of a year of 365 days (or 366 days in a leap year),
and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The
applicable Alternate Base Rate or Adjusted LIBO Rate shall be determined by the Administrative Agent and such determination shall
be conclusive absent manifest error.

 

Section 2.13           
Alternate Rate of Interest. If prior to the commencement of the Interest Period for any Eurocurrency Borrowing (the
Currency of such Borrowing herein called the “Affected Currency”):

 

(a)               
the Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable
means do not exist for ascertaining the Adjusted LIBO Rate for the Affected Currency for such Interest Period; or

 

(b)               
the Administrative Agent is advised by the Required Lenders of such Class that the Adjusted LIBO Rate for the Affected Currency
for such Interest Period will not adequately and fairly reflect the cost to such Lenders of making or maintaining their respective
Loans included in such Borrowing for such Interest Period;

 

then the Administrative Agent shall
give notice thereof to the Borrower and the affected Lenders by telephone or telecopy as promptly as practicable thereafter
and, until the Administrative Agent notifies the Borrower and such Lenders that the circumstances giving rise to such notice
no longer exist, (i) any Interest Election Request that requests the conversion of any Syndicated Borrowing to, or the
continuation of any Syndicated Borrowing as, a Eurocurrency Borrowing denominated in the Affected Currency shall be
ineffective and, if the Affected Currency is Dollars, such Syndicated Borrowing (unless prepaid) shall be continued as, or
converted to, a Syndicated ABR Borrowing, (ii) if the Affected Currency is Dollars and any Borrowing Request requests a
Eurocurrency Borrowing denominated in Dollars, such Borrowing shall be made as a Syndicated ABR Borrowing and (iii) if the
Affected Currency is CAD, any Borrowing Request that requests a Eurocurrency Borrowing denominated in CAD, then the CDOR Rate
for such Borrowing in CAD shall be equal to the Canadian Prime Rate.

 

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Section 2.14           
Increased Costs.

 

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

 

(i)                
impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement
against assets of, deposits with or for account of, or credit extended by, any Lender (except any such reserve requirement reflected
in the Adjusted LIBO Rate) or the Issuing Bank; or

 

(ii)              
impose on any Lender or the Issuing Bank or the London interbank market any other condition, cost or expense (other than
Taxes) affecting this Agreement or Eurocurrency Loans made by such Lender or any Letter of Credit or participation therein;

 

and the result of any of the foregoing
shall be to increase the cost to such Lenders of making, converting to, continuing or maintaining any Eurocurrency Loan (or of
maintaining its obligation to make any such Loan) or to increase the cost to such Lender or the Issuing Bank of participating in,
issuing or maintaining any Letter of Credit or to reduce the amount of any sum received or receivable by such Lender or the Issuing
Bank hereunder (whether of principal, interest or otherwise), then the Borrower will pay to such Lender or the Issuing Bank, as
the case may be, in Dollars, such additional amount or amounts as will compensate such Lender or the Issuing Bank, as the case
may be, for such additional costs incurred or reduction suffered.

 

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

 

(c)               
Certificates from Lenders. A certificate of a Lender or the Issuing Bank setting forth the amount or amounts, in
Dollars, necessary to compensate such Lender or the Issuing Bank or its holding company, as the case may be, as specified in paragraph (a)
or (b) of this Section shall be promptly delivered to the Borrower and shall be conclusive absent manifest error. The Borrower
shall pay such Lender or the Issuing Bank, as the case may be, the amount shown as due on any such certificate within 10 days after
receipt thereof.

 

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(d)               
 Delay in Requests. Failure or delay on the part of any Lender or the Issuing Bank to demand compensation pursuant
to this Section shall not constitute a waiver of such Lender’s or the Issuing Bank’s right to demand such compensation;
provided that the Borrower shall not be required to compensate a Lender or the Issuing Bank pursuant to this Section for
any increased costs or reductions incurred more than six months prior to the date that such Lender or the Issuing Bank, as the
case may be, notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s
or the Issuing Bank’s intention to claim compensation therefor; provided, further, that, if the Change in Law
giving rise to such increased costs or reductions is retroactive, then the six-month period referred to above shall be extended
to include the period of retroactive effect thereof.

 

Section 2.15           
Break Funding Payments. In the event of (a) the payment of any principal of any Eurocurrency Loan other than on the
last day of an Interest Period therefor (including as a result of the occurrence of any Commitment Increase Date or an Event of
Default), (b) the conversion of any Eurocurrency Loan other than on the last day of an Interest Period therefor, (c) the failure
to borrow, convert, continue or prepay any Syndicated Loan on the date specified in any notice delivered pursuant hereto (including,
in connection with any Commitment Increase Date, and regardless of whether such notice is permitted to be revocable under Section 2.10(e)
and is revoked in accordance herewith), or (d) the assignment as a result of a request by the Borrower pursuant to Section 2.18(b)
of any Eurocurrency Loan other than on the last day of an Interest Period therefor, then, in any such event, the Borrower shall
compensate each Lender for the loss, cost and expense attributable to such event. In the case of a Eurocurrency Loan, the loss
to any Lender attributable to any such event shall be deemed to include an amount determined by such Lender to be equal to the
excess, if any, of

 

(i)       the
amount of interest that such Lender would pay for a deposit equal to the principal amount of such Loan denominated in the Currency
of such Loan for the period from the date of such payment, conversion, failure or assignment to the last day of the then current
Interest Period for such Loan (or, in the case of a failure to borrow, convert or continue, the duration of the Interest Period
that would have resulted from such borrowing, conversion or continuation) if the interest rate payable on such deposit were equal
to the Adjusted LIBO Rate for such Currency for such Interest Period, over

 

(ii)       the
amount of interest that such Lender would earn on such principal amount for such period if such Lender were to invest such principal
amount for such period at the interest rate that would be bid by such Lender (or an affiliate of such Lender) for deposits denominated
in such Currency from other banks in the Eurocurrency market at the commencement of such period.

 

Payment under this Section shall be made
upon request of a Lender delivered not later than five Business Days following the payment, conversion, or failure to borrow, convert,
continue or prepay that gives rise to a claim under this Section accompanied by a certificate of such Lender setting forth the
amount or amounts that such Lender is entitled to receive pursuant to this Section, which certificate shall be conclusive absent
manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within 10 days after receipt
thereof.

 

Section 2.16           
Taxes.

 

(a)                Payments
Free of Taxes. Any and all payments by or on account of any obligation of the Borrower hereunder or under any other Loan
Document shall be made free and clear of and without deduction for any Taxes, except as required by applicable law; provided
that if the Borrower shall be required to deduct any Taxes from such payments (as determined in its good faith discretion),
then (i) if such Taxes are Indemnified Taxes, the sum payable shall be increased as necessary so that after making all
required deductions (including deductions applicable to additional sums payable under this Section) the Administrative Agent,
Lender or Issuing Bank (as the case may be) receives an amount equal to the sum it would have received had no such deductions
been made, (ii) the Borrower shall make such deductions and (iii) the Borrower shall pay the full amount deducted to the
relevant Governmental Authority in accordance with applicable law.

 

    46

     

    

 

(b)               
Payment of Other Taxes by the Borrower. In addition, the Borrower shall pay any Other Taxes to the relevant Governmental
Authority in accordance with applicable law.

 

(c)               
Indemnification by the Borrower. The Borrower shall indemnify the Administrative Agent, each Lender and the Issuing
Bank for and, within 10 Business Days after written demand therefor, pay the full amount of any Indemnified Taxes or Other Taxes
paid by the Administrative Agent, such Lender or the Issuing Bank, as the case may be, and any penalties, interest and reasonable
expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally
imposed or asserted by the relevant Governmental Authority, except to the extent that any such Indemnified Taxes or Other Taxes
arise as the result of the gross negligence or willful misconduct of the Administrative Agent, such Lender or the Issuing Bank.
A certificate as to the amount of such payment or liability delivered to the Borrower by a Lender or the Issuing Bank, or by the
Administrative Agent on its own behalf or on behalf of a Lender or the Issuing Bank, accompanied by a written statement thereof
setting forth in reasonable detail the basis and calculation of such amounts, shall be conclusive absent manifest error.

 

(d)               
Indemnification by the Lenders. Each Lender shall severally indemnify, within 10 Business Days after written demand
therefor, (i) the Administrative Agent for any Indemnified Taxes or Other Taxes attributable to such Lender (but only to the extent
that the Borrower has not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation
of the Borrower to do so), (ii) the Administrative Agent or the Borrower for any Taxes attributable to such Lender’s failure
to comply with the provisions of Section 9.04(f) relating to the maintenance of a Participant Register, and
(iii) the Administrative Agent or the Borrower for any Excluded Taxes attributable to such Lender, in each case, that are payable
or paid by the Administrative Agent or the Borrower, as applicable, in connection with any Loan Document, and any reasonable expenses
arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant
Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative
Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any
and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by the Administrative Agent to the
Lender from any other source against any amount due to the Administrative Agent under this paragraph (d).

 

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

 

(f)                 Tax
Documentation. (i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to
payments under any Loan Document shall deliver to the Borrower (with a copy to the Administrative Agent), at the time or
times prescribed by applicable law or as reasonably requested by the Borrower, such properly completed and executed
documentation prescribed by applicable law as will permit such payments to be made without withholding or at a reduced rate
of withholding. In addition, any Lender, if requested by the Borrower or the Administrative Agent, shall deliver such other
documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable
the Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or
information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion,
execution and submission of such documentation (other than such documentation set forth in Section 2.16(f)(ii)(A)
and (B) below) shall not be required if in the Lender’s reasonable judgment such completion, execution or
submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or
commercial position of such Lender.

 

    47

     

    

 

(ii)              
Without limiting the generality of the foregoing:

 

(A)             
any Lender that is a “United States person” (as defined under Section 7701(a)(30) of the Code) shall deliver
to the Borrower and the Administrative Agent (and such additional copies as shall be reasonably requested by the recipient) on
or prior to the date on which such Lender become a Lender under this Agreement (and from time to time thereafter upon the reasonable
request of the Borrower or the Administrative Agent), duly completed and executed copies of Internal Revenue Service Form W-9 or
any successor form certifying that such Lender is exempt from U.S. federal backup withholding Tax; and

 

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

 

(w)       duly
completed and executed copies of Internal Revenue Service Form W-8BEN or W-8BEN-E or any successor form claiming eligibility for
benefits of an income Tax treaty to which the United States is a party,

 

(x)       duly
completed copies of Internal Revenue Service Form W-8ECI or any successor form certifying that the income receivable pursuant to
this Agreement is effectively connected with the conduct of a trade or business in the United States,

 

(y)       in
the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code,
(1) a certificate to the effect that such Foreign Lender is not (1) a “bank” within the meaning of Section 881(c)(3)(A)
of the Code, (2) a “10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the
Code, or (3) a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code and (2) duly completed
and executed copies of Internal Revenue Service Form W-8BEN or W-8BEN-E (or any successor form) certifying that the Foreign Lender
is not a United States Person, or

 

(z)       any
other form including Internal Revenue Service Form W-8IMY as applicable prescribed by applicable law as a basis for claiming exemption
from or a reduction in U.S. federal withholding Tax duly completed together with such supplementary documentation as may be prescribed
by applicable law to permit the Borrower to determine the withholding or deduction required to be made.

 

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In addition, each Lender
shall deliver updated versions of such forms or certifications promptly upon the obsolescence, expiration or invalidity of any
form or certification previously delivered by such Lender or to the extent such form or certification it previously delivered becomes
inaccurate in any respect; provided it is legally able to do so at the time. Each Lender shall promptly notify the Borrower
and the Administrative Agent at any time such Lender no longer satisfies the legal requirements to provide any previously delivered
form or certificate to the Borrower (or any other form of certification adopted by any Government Authority for such purpose).

 

(g)               
Documentation Required by FATCA. If a payment made to a Lender under any Loan Document would be subject to U.S. federal
withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including
those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the
Administrative Agent, at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or
the Administrative Agent, such document prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i)
of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary
for the Borrower and the Administrative Agent to comply with their respective obligations under FATCA and to determine that such
Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such
payment. Solely for purposes of this Section 2.16(g), “FATCA” shall include any amendments
made to FATCA after the date of this Agreement.

 

(h)                Treatment
of Certain Refunds. Unless required by applicable law, at no time shall the Administrative Agent have any obligation to
file for or otherwise pursue on behalf of a Lender, or have any obligation to pay to any Lender, any refund of Taxes withheld
or deducted from funds paid to or for the account of a Lender. If the Administrative Agent, any Lender or an Issuing Bank
determines, in its sole discretion, that it has received a refund or credit (in lieu of such refund) of any Taxes as to which
it has been indemnified by the Borrower or with respect to which the Borrower has paid additional amounts pursuant to this
Section, as soon as practicable after it is determined that such refund pertains to Taxes as to which it has been indemnified
by the Borrower or with respect to which the Borrower has paid additional amounts pursuant to this Section, it shall pay to
the Borrower an amount equal to such refund (but only to the extent of indemnity payments made, or additional amounts paid,
by the Borrower under this Section with respect to the Taxes giving rise to such refund), net of all reasonable out-of-pocket
expenses of the Administrative Agent, any Lender or an Issuing Bank, as the case may be, and without interest (other than any
interest paid by the relevant Governmental Authority with respect to such refund); provided that the Borrower, upon
the request of the Administrative Agent, any Lender or an Issuing Bank, agrees to repay the amount paid over to the Borrower
(plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Administrative Agent,
any Lender or an Issuing Bank in the event the Administrative Agent, any Lender or an Issuing Bank is required to repay such
refund to such Governmental Authority. The Administrative Agent, the Lender or the Issuing Bank, as applicable, upon the
request of the Borrower, shall provide the Borrower with a copy of any notice of assessment or other evidence of the
requirement to repay such refund received from the relevant Government Authority (provided that the Administrative Agent, the
Lender or the Issuing Bank, as applicable, may delete any information therein that it deemed confidential). Notwithstanding
anything to the contrary in this clause (h), in no event will the Administrative Agent, any Lender or an Issuing
Bank be required to pay any amount to Borrower pursuant to this clause (h), the payment of which would place such
Person in a less favorable net after-Tax position than such Person would have been in if the indemnification payments or
additional amounts giving rise to such refund had never been paid. This subsection shall not be construed to require the
Administrative Agent, any Lender or an Issuing Bank to make available its Tax returns or its books or records (or any other
information relating to its Taxes that it deems confidential) to the Borrower or any other Person.

 

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(i)       This
Section 2.16 shall survive the termination of this Agreement and the payment of the Loans and all other Secured Obligations
under, and as defined in the Guarantee and Security Agreement.

 

Section 2.17           
Payments Generally; Pro Rata Treatment: Sharing of Set-offs.

 

(a)               
Payments by the Borrower. The Borrower shall make each payment required to be made by it hereunder (whether of principal,
interest, fees or reimbursement of LC Disbursements, or under Section 2.14, 2.15 or 2.16,
or otherwise) or under any other Loan Document (except to the extent otherwise provided therein) prior to 12:00 noon, Houston,
Texas time, on the date when due, in immediately available funds, without set-off or counterclaim. Any amounts received after such
time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business
Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent at the Administrative
Agent’s Account, except as otherwise expressly provided in the relevant Loan Document and except payments to be made directly
to the Issuing Bank or the Swingline Lender as expressly provided herein and payments pursuant to Sections 2.14,
2.15, 2.16 and 9.03, which shall be made directly to the Persons entitled thereto. The
Administrative Agent shall distribute any such payments received by it for account of any other Person to the appropriate recipient
promptly following receipt thereof. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment
shall be extended to the next succeeding Business Day and, in the case of any payment accruing interest, interest thereon shall
be payable for the period of such extension.

 

All amounts owing under
this Agreement (including commitment fees, payments required under Section 2.14, and payments required under
Section 2.15 relating to any Loan denominated in Dollars, but not including principal of and interest on any
Loan denominated in any Foreign Currency or payments relating to any such Loan required under Section 2.15,
which are payable in such Foreign Currency) or under any other Loan Document (except to the extent otherwise provided therein)
are payable in Dollars. Notwithstanding the foregoing, if the Borrower shall fail to pay any principal of any Loan when due (whether
at stated maturity, by acceleration, by mandatory prepayment or otherwise), the unpaid portion of such Loan shall, if such Loan
is not denominated in Dollars, automatically be redenominated in Dollars on the due date thereof (or, if such due date is a day
other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar
Equivalent thereof on the date of such redenomination and such principal shall be payable on demand; and if the Borrower shall
fail to pay any interest on any Loan that is not denominated in Dollars, such interest shall automatically be redenominated in
Dollars on the due date therefor (or, if such due date is a day other than the last day of the Interest Period therefor, on the
last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such
interest shall be payable on demand.

 

Notwithstanding the
foregoing provisions of this Section, if, after the making of any Borrowing in any Foreign Currency, currency control or exchange
regulations are imposed in the country which issues such currency with the result that the type of currency in which the Borrowing
was made (the “Original Currency”) no longer exists or the Borrower is not able to make payment to the
Administrative Agent for the account of the Lenders in such Original Currency, then all payments to be made by the Borrower hereunder
in such currency shall instead be made when due in Dollars in an amount equal to the Dollar Equivalent (as of the date of repayment)
of such payment due, it being the intention of the parties hereto that the Borrower takes all risks of the imposition of any such
currency control or exchange regulations.

 

(b)                Application
of Insufficient Payments. If at any time insufficient funds are received by and available to the Administrative Agent to
pay fully all amounts of principal, unreimbursed LC Disbursements, interest and fees of a Class then due hereunder, such
funds shall be applied (i) first, to pay interest and fees of such Class then due hereunder, ratably among the parties
entitled thereto in accordance with the amounts of interest and fees of such Class then due to such parties, and (ii) second,
to pay principal and unreimbursed LC Disbursements of such Class then due hereunder, ratably among the parties entitled
thereto in accordance with the amounts of principal and unreimbursed LC Disbursements of such Class then due to such
parties.

 

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(c)               
Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each Syndicated Borrowing shall be made from
the Lenders, each payment of commitment fee under Section 2.11 shall be made for account of the Lenders, and
each termination or reduction of the amount of the Commitments under Section 2.08 shall be applied to the respective
Commitments of the Lenders, pro rata according to the amounts of their respective Commitments; (ii) each Syndicated Borrowing shall
be allocated pro rata among the Lenders according to the amounts of their respective Commitments (in the case of the making of
Syndicated Loans) or their respective Loans that are to be included in such Borrowing (in the case of conversions and continuations
of Loans); (iii) each payment or prepayment of principal of Syndicated Loans by the Borrower shall be made for account of the Lenders
pro rata in accordance with the respective unpaid principal amounts of the Syndicated Loans held by them; and (iv) each payment
of interest on Syndicated Loans by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts
of interest on such Loans then due and payable to the respective Lenders.

 

(d)               
Sharing of Payments by Lenders. If any Lender of any Class shall, by exercising any right of set-off or counterclaim
or otherwise, obtain payment in respect of any principal of or interest on any of its Syndicated Loans, or participations in LC
Disbursements or Swingline Loans, of such Class resulting in such Lender receiving payment of a greater proportion of the aggregate
amount of its Syndicated Loans, and participations in LC Disbursements and Swingline Loans, and accrued interest thereon of such
Class then due than the proportion received by any other Lender of such Class, then the Lender receiving such greater proportion
shall purchase (for cash at face value) participations in the Syndicated Loans, and participations in LC Disbursements and Swingline
Loans, of other Lenders of such Class to the extent necessary so that the benefit of all such payments shall be shared by the Lenders
of such Class ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Syndicated
Loans, and participations in LC Disbursements and Swingline Loans, of such Class; provided that (i) if any such participations
are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and
the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not
be construed to apply to any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement
or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans or participations
in LC Disbursements to any assignee or participant, other than to the Borrower or any Subsidiary or Affiliate thereof (as to which
the provisions of this paragraph shall apply). The Borrower consents to the foregoing and agrees, to the extent it may effectively
do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against
the Borrower rights of set-off and counterclaim with respect to such participation as fully as if such Lender were a direct creditor
of the Borrower in the amount of such participation.

 

(e)                Presumptions
of Payment. Unless the Administrative Agent shall have received notice from the Borrower prior to the date on which any
payment is due to the Administrative Agent for account of the Lenders or the Issuing Bank hereunder that the Borrower will
not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such date in accordance
herewith and may, in reliance upon such assumption, distribute to the Lenders or the Issuing Bank, as the case may be, the
amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders or the Issuing Bank,
as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to
such Lender or the Issuing Bank with interest thereon, for each day from and including the date such amount is distributed to
it to but excluding the date of payment to the Administrative Agent at the Federal Funds Effective Rate.

 

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(f)                
Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made
by it pursuant to Section 2.04(c), 2.05(e), 2.06(a) or (b) or 2.17(e),
then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter
received by the Administrative Agent for account of such Lender to satisfy such Lender’s obligations under such Sections
until all such unsatisfied obligations are fully paid.

 

Section 2.18           
Mitigation Obligations; Replacement of Lenders.

 

(a)               
Designation of a Different Lending Office. If any Lender requests compensation under Section 2.14,
or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any
Lender pursuant to Section 2.16, then such Lender shall use reasonable efforts to designate a different lending
office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices,
branches or affiliates, if in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts
payable pursuant to Section 2.14 or 2.16, as the case may be, in the future and (ii) would not
subject such Lender to any cost or expense not required to be reimbursed by the Borrower and would not otherwise be materially
disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection
with any such designation or assignment.

 

(b)               
Replacement of Lenders. If any Lender requests compensation under Section 2.14, or if the Borrower
is required to pay any additional amount to any Lender or any Governmental Authority for account of any Lender pursuant to Section 2.16,
or if any Lender becomes a Defaulting Lender or is a Non-Consenting Lender (as provided in Section 9.02(d)),
then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender
to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 9.04),
all its interests, rights and obligations under this Agreement to an assignee that shall assume such obligations (which assignee
may be another Lender, if a Lender accepts such assignment); provided that (i) the Borrower shall have received the prior
written consent of the Administrative Agent (and, if a Commitment is being assigned, the Issuing Bank and the Swingline Lender),
which consent shall not unreasonably be withheld, (ii) such Lender shall have received payment of an amount equal to the outstanding
principal of its Loans and participations in LC Disbursements and Swingline Loans, accrued interest thereon, accrued fees and all
other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and
fees) or the Borrower (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for
compensation under Section 2.14 or payments required to be made pursuant to Section 2.16,
such assignment will result in a reduction in such compensation or payments thereafter. A Lender shall not be required to make
any such assignment and delegation if prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling
the Borrower to require such assignment and delegation cease to apply.

 

Section 2.19           
Defaulting Lenders.

 

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

 

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(i)                 Defaulting
Lender Waterfall. Any payment of principal, interest, fees or other amounts received by Administrative Agent for the
account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VII or
otherwise) or received by Administrative Agent from a Defaulting Lender pursuant to Section 9.08 shall be
applied at such time or times as may be determined by Administrative Agent as follows: first, to the payment of any
amounts owing by such Defaulting Lender to Administrative Agent hereunder; second, to the payment on a pro rata basis
of any amounts owing by such Defaulting Lender to Issuing Bank or Swingline Lender hereunder; third, to Cash
Collateralize Issuing Bank’s Fronting Exposure with respect to such Defaulting Lender in the manner described in Section 2.09(a); fourth,
as Borrower may request (so long as no Default exists), to the funding of any Loan in respect of which such Defaulting Lender
has failed to fund its portion thereof as required by this Agreement, as determined by Administrative Agent; fifth, if
so determined by Administrative Agent and Borrower, to be held in a deposit account and released pro rata in order to (x)
satisfy such Defaulting Lender’s potential future funding obligations with respect to Loans under this Agreement and
(y) Cash Collateralize Issuing Bank’s future Fronting Exposure with respect to such Defaulting Lender with respect to
future Letters of Credit issued under this Agreement, in the manner described in Section 2.09(a); sixth,
to the payment of any amounts owing to the Lenders, Issuing Bank or Swingline Lender as a result of any judgment of a court
of competent jurisdiction obtained by any Lender, Issuing Bank or Swingline Lender against such Defaulting Lender as a result
of such Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default
exists, to the payment of any amounts owing to Borrower as a result of any judgment of a court of competent jurisdiction
obtained by Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations
under this Agreement; and eighth, to such Defaulting Lender or as otherwise directed by a court of competent
jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Loans or reimbursement
obligations in respect of any LC Disbursement for which such Defaulting Lender has not fully funded its appropriate share,
and (y) such Loans were made or the related Letters of Credit were issued at a time when the conditions set forth in Section 4.02
were satisfied and waived, such payment shall be applied solely to pay the Loans of, and reimbursement obligations in respect
of any LC Disbursement that is owed to, all Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment
of any Loans of, or reimbursement obligations in respect of any LC Disbursement that is owed to, such Defaulting Lender until
such time as all Loans and funded and unfunded participations in Letters of Credit and Swingline Loans are held by the
Lenders pro rata in accordance with the applicable Commitments without giving effect to Section 2.19(a)(iii).
Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts
owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.19(a)(i) shall be deemed
paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto.

 

(ii)              
Certain Fees.

 

(A)             
No Defaulting Lender shall be entitled to receive any fee pursuant to Sections 2.11(a) and (b)
for any period during which that Lender is a Defaulting Lender (and Borrower shall not be required to pay any such fee that otherwise
would have been required to have been paid to that Defaulting Lender); provided that such Defaulting Lender shall be entitled
to receive fees pursuant to Section 2.11(b) for any period during which that Lender is a Defaulting Lender only
to extent allocable to its Applicable Percentage of the stated amount of Letters of Credit for which it has provided Cash Collateral
pursuant to Section 2.19(d).

 

(B)              With
respect to any Section 2.11(b) fees not required to be paid to any Defaulting Lender pursuant to clause (A)
above, Borrower shall (x) pay to each Non- Defaulting Lender that portion of any such fee otherwise payable to such
Defaulting Lender with respect to such Defaulting Lender’s participation in Letters of Credit or Swingline Loans that
has been reallocated to such Non-Defaulting Lender pursuant to clause (iii) below, (y) pay to Issuing Bank
the amount of any such fee otherwise payable to such Defaulting Lender to the extent allocable to Issuing Bank’s
Fronting Exposure to such Defaulting Lender, and (z) not be required to pay the remaining amount of any such fee.

 

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(iii)            
Reallocation of Participations to Reduce Fronting Exposure. All or any part of such Defaulting Lender’s participation
in Letters of Credit and Swingline Loans shall be reallocated (effective no later than one (1) Business Day after the Administrative
Agent has actual knowledge that such Lender has become a Defaulting Lender) among the Non-Defaulting Lenders in accordance with
their respective Applicable Dollar Percentages (in each case calculated without regard to such Defaulting Lender’s Commitment),
but only to the extent that (x) the conditions set forth in Section 4.02 are satisfied at the time of such reallocation
(and, unless Borrower shall have otherwise notified Administrative Agent at such time, Borrower shall be deemed to have represented
and warranted that such conditions are satisfied at such time), and (y) such reallocation does not cause the aggregate Revolving
Credit Exposure of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Commitment. No reallocation hereunder
shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having
become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased
exposure following such reallocation.

 

(iv)             
Cash Collateral; Repayment of Swingline Loans. If the reallocation described in clause (iii) above cannot,
or can only partially, be effected, the Borrower shall not later than two (2) Business Days after demand by the Administrative
Agent (at the direction of the Issuing Bank and/or the Swingline Lender), without prejudice to any right or remedy available to
it hereunder or under law, (x) first, prepay Swingline Loans in an amount equal to the Swingline Lender’s Swingline Exposure
(which exposure shall be deemed equal to the applicable Defaulting Lender’s Applicable Percentage of the total outstanding
Swingline Exposure (other than Swingline Exposure as to which such Defaulting Lender’s participation obligation has been
reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof)) and (y) second, Cash Collateralize the
Issuing Bank’s Fronting Exposure in accordance with the procedures set forth in Section 2.19(d) or (z) make other
arrangements reasonably satisfactory to the Administrative Agent, the Issuing Bank and the Swingline Lender in their sole discretion
to protect them against the risk of non-payment by such Defaulting Lender.

 

(b)                Defaulting
Lender Cure. If the Borrower, the Administrative Agent, the Swingline Lender and the Issuing Bank agree in writing that a
Lender is no longer a Defaulting Lender, Administrative Agent will so notify the parties hereto, whereupon as of the
effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with
respect to any Cash Collateral), that such former Defaulting Lender will, to the extent applicable, purchase at par that
portion of outstanding Loans of the other Lenders or take such other actions as Administrative Agent may determine to be
necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline Loans to be held pro
rata by the Lenders in accordance with the applicable Commitments (without giving effect to Section 2.19(a)(iii)),
and if Cash Collateral has been posted with respect to such Defaulting Lender, the Administrative Agent will promptly return
or release such Cash Collateral to the Borrower, whereupon such Lender will cease to be a Defaulting Lender; provided
that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of Borrower
while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly
agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of
any claim of any party hereunder arising from that Lender having been a Defaulting Lender.

 

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(c)               
New Swingline Loans/Letters of Credit. So long as any Lender is a Defaulting Lender, (i) the Swingline Lender shall
not be required to fund any Swingline Loans unless it is satisfied that the participations therein will be fully allocated among
Non-Defaulting Lenders in a manner consistent with clause (a)(iii) above and the Defaulting Lender shall not participate
therein and (ii) the Issuing Bank shall not be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied
that the participations in any existing Letters of Credit as well as the new, extended, renewed or increased Letter of Credit has
been or will be fully allocated among the Non-Defaulting Lenders in a manner consistent with clause (a)(iii) above
and such Defaulting Lender shall not participate therein except to the extent such Defaulting Lender’s participation has
been or will be fully Cash Collateralized in accordance with Section 2.19(d).

 

(d)               
Cash Collateral. At any time that there shall exist a Defaulting Lender, promptly following the written request of
Administrative Agent or Issuing Bank (with a copy to Administrative Agent) Borrower shall Cash Collateralize Issuing Bank’s
Fronting Exposure with respect to such Defaulting Lender (determined after giving effect to Section 2.19(a)(iii)
and any Cash Collateral provided by such Defaulting Lender) in an amount not less than the Minimum Collateral Amount.

 

(i)                
Grant of Security Interest. Borrower, and to the extent provided by any Defaulting Lender, such Defaulting Lender,
hereby grants to (and subjects to the control of) Administrative Agent, for the benefit of Issuing Bank, and agrees to maintain,
a first priority security interest in all such Cash Collateral as security for the Defaulting Lenders’ obligation to fund
participations in respect of Letters of Credit, to be applied pursuant to clause (ii) below. If at any time Administrative
Agent determines that Cash Collateral is subject to any right or claim of any Person other than Administrative Agent and Issuing
Bank as herein provided, or that the total amount of such Cash Collateral is less than the Minimum Collateral Amount, Borrower
will, promptly upon demand by Administrative Agent, pay or provide to Administrative Agent additional Cash Collateral in an amount
sufficient to eliminate such deficiency (after giving effect to any Cash Collateral provided by the Defaulting Lender). All Cash
Collateral (other than credit support not constituting funds subject to deposit) shall be maintained in blocked, non-interest bearing
deposit accounts at Amegy Bank. Borrower shall pay on demand therefor from time to time all reasonable and customary account opening,
activity and other administrative fees and charges in connection with the maintenance and disbursement of Cash Collateral.

 

(ii)              
Application. Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided under
this Section 2.19 in respect of Letters of Credit shall be applied to the satisfaction of the Defaulting Lender’s
obligation to fund participations in respect of Letters of Credit (including, as to Cash Collateral provided by a Defaulting Lender,
any interest accrued on such obligation) for which the Cash Collateral was so provided, prior to any other application of such
property as may otherwise be provided for herein.

 

(iii)             Termination
of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce Issuing Bank’s Fronting
Exposure shall no longer be required to be held as Cash Collateral pursuant to this Section 2.19 following
(i) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the
applicable Lender) or (ii) the determination by Administrative Agent and Issuing Bank that there exists excess Cash
Collateral; provided that, subject to the other provisions of this Section 2.19, the Person
providing Cash Collateral and Issuing Bank may agree that Cash Collateral shall be held to support future anticipated
Fronting Exposure; provided, further, that to the extent that such Cash Collateral was provided by Borrower,
such Cash Collateral shall remain subject to the security interest granted pursuant to the Loan Documents.

 

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Section 2.20           
Acknowledgement and Consent to Bail-In of Affected Financial Institutions. Notwithstanding anything to the contrary
in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges
that any liability of an Affected Financial Institution arising under any Loan Document, to the extent such liability is unsecured,
may be subject to the Write-Down and Conversion powers of the applicable Resolution Authority and agrees and consents to, and acknowledges
and agrees to be bound by:

 

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

 

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

 

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

 

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

 

(iii)            
the variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion powers of
the applicable Resolution Authority.

 

Section 2.21           
LIBOR Replacement.

 

(a)               
Benchmark Replacement. Notwithstanding anything to the contrary in this Agreement or in any other Loan Document,
upon the occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, the Administrative Agent and the
Borrower may amend this Agreement to replace the LIBO Rate with a Benchmark Replacement. Any such amendment with respect to a Benchmark
Transition Event will become effective at 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the Administrative
Agent has posted such proposed amendment to all Lenders and the Borrower, so long as the Administrative Agent has not received,
by such time, written notice of objection to such Benchmark Replacement from Lenders comprising the Required Lenders; provided
that, with respect to any such proposed amendment containing any SOFR-Based Rate, the Lenders shall be entitled to object only
to the Benchmark Replacement Adjustment contain therein. Any such amendment with respect to an Early Opt-in Election will become
effective on the date that Lenders comprising Required Lenders of each Class have delivered to the Administrative Agent written
notice that such Required Lenders accept such amendment. No replacement of a LIBO Rate with a Benchmark Replacement will occur
prior to the applicable Benchmark Transition Start Date.

 

(b)                Benchmark
Replacement Conforming Changes. In connection with the implementation of a Benchmark Replacement, the Administrative
Agent will have the right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to
the contrary herein or in any other Loan Document, any amendments implementing such Benchmark Replacement Conforming Changes
will become effective without any further action or consent of any other party to this Agreement or any other Loan
Document.

 

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(c)               
Notices; Standards for Decisions and Determinations. The Administrative Agent will promptly notify the Borrower and
the Lenders of (i) any occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark
Replacement Date, (ii) the implementation of any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement Conforming
Changes, and (iv) the commencement or conclusion of any Benchmark Unavailability Period. Any determination, decision or election
that may be made by the Administrative Agent or, if applicable, any Lender (or group of Lenders) pursuant to this Section
2.21, including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of
an event, circumstance or date and any decision to take or refrain from taking any action, will be conclusive and binding absent
manifest error and may be made in its or their sole discretion and without consent from any other party to this Agreement or any
other Loan Document, except, in each case, as expressly required pursuant to this Section 2.21.

 

(d)               
Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability
Period, the Borrower may revoke any request for a LIBOR Borrowing of, conversion to or continuation of LIBOR Loans to be made,
converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted
any such request into a request for a Borrowing of or conversion of LIBOR Loans to ABR Loans (and any request for a Borrowing of
or conversion of CAD Loans to Canadian Prime Rate Loans, if applicable). During any Benchmark Unavailability Period, the component
of the Alternate Base Rate based upon the LIBO Rate will not be used in any determination of the Alternate Base Rate.

 

(e)               
Certain Defined Terms. As used in this Section 2.21:

 

Benchmark
Replacement means the sum of: (a) the alternate benchmark rate (which may be a SOFR-Based Rate) that has been selected
by the Administrative Agent and the Borrower giving due consideration to (i) any selection or recommendation of a replacement benchmark
rate or the mechanism for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market
convention for determining a benchmark rate as a replacement for the LIBO Rate for U.S. dollar-denominated syndicated credit facilities,
and (b) the Benchmark Replacement Adjustment; provided that, if the Benchmark Replacement as so determined would be less
than zero, the Benchmark Replacement will be deemed to be zero for the purposes of this Agreement; provided further that
any such Benchmark Replacement shall be administratively feasible as determined by the Administrative Agent in its sole discretion.

 

Benchmark
Replacement Adjustment means with respect to any replacement of the LIBO Screen Rate with an Unadjusted Benchmark Replacement
for the applicable Corresponding Tenor, the spread adjustment or method for calculating or determining such spread adjustment,
(which may be a positive or negative value or zero) that has been selected by the Administrative Agent and the Borrower giving
due consideration to (i) any selection or recommendation of a spread adjustment, or method for calculating or determining such
spread adjustment, for the replacement of the LIBO Screen Rate with the applicable Unadjusted Benchmark Replacement by the Relevant
Governmental Body or (ii) any evolving or then-prevailing market convention for determining a spread adjustment, or method for
calculating or determining such spread adjustment, for the replacement of the LIBO Screen Rate with the applicable Unadjusted Benchmark
Replacement for U.S. dollar-denominated syndicated credit facilities at such time.

 

    57

     

    

 

Benchmark
Replacement Conforming Changes means, with respect to any Benchmark Replacement, any technical, administrative or operational
changes (including changes to the definition of “ABR,” the definition of “Business Day,” the definition
of “Interest Period,” timing and frequency of determining rates and making payments of interest, and other administrative
or operational matters) that the Administrative Agent decides in its reasonable discretion may be appropriate to reflect the adoption
and implementation of such Benchmark Replacement and to permit the administration thereof by the Administrative Agent in a manner
substantially consistent with market practice (or, if the Administrative Agent decides that adoption of any portion of such market
practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration
of such Benchmark Replacement exists, in such other manner of administration as the Administrative Agent decides is reasonably
necessary in connection with the administration of this Agreement and the other Loan Documents).

 

Benchmark
Replacement Date means the earliest to occur of the following events with respect to the LIBO Rate:

 

(1)       in
the case of clause (1) or (2) of the definition of “Benchmark Transition Event,” the later of (a) the date of the public
statement or publication of information referenced therein and (b) the date on which the administrator of the LIBO Screen Rate
permanently or indefinitely ceases to provide the LIBO Screen Rate; or

 

(2)       in
the case of clause (3) of the definition of “Benchmark Transition Event,” the date of the public statement or publication
of information referenced therein.

 

Benchmark
Transition Event means the occurrence of one or more of the following events with respect to the LIBO Screen Rate:

 

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

 

(2)               
a public statement or publication of information by the regulatory supervisor for the administrator of the LIBO Screen Rate,
the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, an insolvency official with jurisdiction
over the administrator for the LIBO Screen Rate, a resolution authority with jurisdiction over the administrator for the LIBO Screen
Rate or a court or an entity with similar insolvency or resolution authority over the administrator for the LIBO Screen Rate, which
states that the administrator of such LIBO Screen Rate has ceased or will cease to provide the LIBO Screen Rate permanently or
indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will
continue to provide the LIBO Screen Rate; or

 

(3)               
a public statement or publication of information by the regulatory supervisor for the administrator of the LIBO Screen Rate
announcing that such LIBO Screen Rate is no longer representative.

 

Benchmark
Transition Start Date means (a) in the case of a Benchmark Transition Event, the earlier of (i) the applicable
Benchmark Replacement Date and (ii) if such Benchmark Transition Event is a public statement or publication of information of
a prospective event, the 90th day prior to the expected date of such event as of such public statement or
publication of information (or if the expected date of such prospective event is fewer than 90 days after such statement or
publication, the date of such statement or publication) and (b) in the case of an Early Opt-in Election, the date specified
by the Administrative Agent or the Required Lenders, as applicable, by notice to the Borrower, the Administrative Agent (in
the case of such notice by the Required Lenders) and the Lenders.

 

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Benchmark
Unavailability Period means the period (if any) (a) beginning at the time that a Benchmark Replacement Date pursuant to
clauses (1) or (2) of that definition has occurred if, at such time, no Benchmark Replacement has replaced the LIBO Screen Rate
for all purposes hereunder and under any Loan Document in accordance with this Section 2.21 and (b) ending at the
time that a Benchmark Replacement has replaced the LIBO Screen Rate for all purposes hereunder and under any Loan Document in accordance
with this Section 2.21.

 

Corresponding
Tenor with respect to a Benchmark Replacement means a tenor (including overnight) having approximately the same length
(disregarding business day adjustment) as the applicable tenor for the applicable Interest Period with respect to the LIBO Screen
Rate.

 

Early
Opt-in Election means the occurrence of:

 

(1)               
(i) a determination by the Administrative Agent or (ii) a notification by the Required Lenders to the Administrative Agent
(with a copy to the Borrower) that the Required Lenders have determined that U.S. dollar-denominated syndicated credit facilities
being executed at such time, or that include language similar to that contained in Section 2.21, are being executed
or amended, as applicable, to incorporate or adopt a new benchmark interest rate to replace the LIBO Screen Rate, and

 

(2)               
(i) the election by the Administrative Agent or (ii) the election by the Required Lenders, to declare that an Early Opt-In
Election has occurred and the provision, as applicable, by the Administrative Agent of written notice of such election to the Borrower
and the Lenders or by the Required Lenders of written notice of such election to the Administrative Agent (with a copy to the Borrower).

 

Relevant
Governmental Body means the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of New York, or
a committee officially endorsed or convened by the Board of Governors of the Federal Reserve System or the Federal Reserve Bank
of New York, or any successor thereto.

 

SOFR
means, with respect to any day, a rate per annum equal to the secured overnight financing rate for such day published by
the SOFR Administrator on the SOFR Administrator’s Website on the immediately succeeding Business Day.

 

SOFR-Based
Rate means SOFR or Term SOFR.

 

SOFR
Administrator means the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing
rate).

 

SOFR
Administrator’s Website means the website of the Federal Reserve Bank of New York, currently at http://www.newyorkfed.org,
or any successor source for the secured overnight financing rate identified as such by the SOFR Administrator from time to time.

 

Term
SOFR means the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental
Body.

 

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Unadjusted
Benchmark Replacement means the Benchmark Replacement excluding the related Benchmark Replacement Adjustment; provided
that, if the Unadjusted Benchmark Replacement as so determined would be less than zero, the Unadjusted Benchmark Replacement will
be deemed to be zero for the purposes of this Agreement.

 

Article
III

REPRESENTATIONS AND WARRANTIES

 

The Borrower represents
and warrants to the Lenders that:

 

Section 3.01           
Organization; Powers. Each of the Borrower and its Subsidiaries is duly organized, validly existing and in good standing
under the laws of the jurisdiction of its organization, has all requisite power and authority to carry on its business as now conducted
and, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material
Adverse Effect, is qualified to do business in, and is in good standing in, every jurisdiction where such qualification is required
of the Borrower or such Subsidiary, as applicable.

 

Section 3.02           
Authorization; Enforceability. The Transactions are within the Borrower’s corporate powers and have been duly
authorized by all necessary corporate and, if required, by all necessary shareholder action. This Agreement has been duly executed
and delivered by the Borrower and constitutes, and each of the other Loan Documents when executed and delivered by each Obligor
party thereto will constitute, a legal, valid and binding obligation of such Obligor, enforceable in accordance with its terms,
except as such enforceability may be limited by (a) bankruptcy, insolvency, reorganization, moratorium or similar laws of general
applicability affecting the enforcement of creditors’ rights and (b) the application of general principles of equity
(regardless of whether such enforceability is considered in a proceeding in equity or at law).

 

Section 3.03           
Governmental Approvals; No Conflicts. The Transactions (a) do not require any consent or approval of, registration
or filing with, or any other action by, any Governmental Authority, except for (i) such as have been or will be obtained or made
and are in full force and effect and (ii) filings and recordings in respect of the Liens created pursuant to this Agreement or
the Security Documents, (b) will not violate any applicable law or regulation or the charter, by-laws or other organizational
documents of the Borrower or any of its Subsidiaries or any order of any Governmental Authority, (c) will not violate or result
in a default in any material respect under any indenture, agreement or other instrument binding upon the Borrower or any of its
Subsidiaries or assets, or give rise to a right thereunder to require any payment to be made by any such Person, and (d) except
for the Liens created pursuant to this Agreement or the Security Documents, will not result in the creation or imposition of any
Lien on any asset of the Borrower or any of its Subsidiaries.

 

Section 3.04           
No Material Adverse Effect. Since the date of the most recent Applicable Financial Statements, there has not been
any event, development or circumstance that has had or could reasonably be expected to have a Material Adverse Effect.

 

Section 3.05           
Litigation. There are no actions, suits, investigations or proceedings by or before any arbitrator or Governmental
Authority now pending against or, to the knowledge of the Borrower, threatened against or affecting the Borrower or any of its
Subsidiaries (i) as to which there is a reasonable possibility of an adverse determination and that, if adversely determined, could
reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect or (ii) that involve this Agreement
or the Transactions.

 

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Section 3.06           
Compliance with Laws and Agreements. Each of the Borrower and its Subsidiaries is in compliance with all laws, regulations
and orders of any Governmental Authority applicable to it or its property and all indentures, agreements and other instruments
binding upon it or its property, except where the failure to do so, individually or in the aggregate, could not reasonably be
expected to result in a Material Adverse Effect. Neither the Borrower nor any of its Subsidiaries is subject to any contract or
other arrangement, the performance of which by the Borrower or its Subsidiaries could reasonably be expected to result in a Material
Adverse Effect.

 

Section 3.07           
Taxes. Each of the Borrower and its Subsidiaries has timely filed or caused to be filed all material Tax returns
and reports required to have been filed and has paid or caused to be paid all material Taxes required to have been paid by it,
except (a) Taxes that are being contested in good faith by appropriate proceedings and for which such Person has set aside on its
books adequate reserves or (b) to the extent that the failure to do so could not reasonably be expected to result in a Material
Adverse Effect.

 

Section 3.08           
ERISA. No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other such
ERISA Events for which liability is reasonably expected to occur, could reasonably be expected to result in a Material Adverse
Effect.

 

Section 3.09           
Disclosure. The Borrower has disclosed to the Lenders all agreements, instruments and corporate or other restrictions
to which it or any of its Subsidiaries is subject, and all other matters known to it, that, individually or in the aggregate, could
reasonably be expected to result in a Material Adverse Effect. None of the reports, financial statements, certificates or other
written information (other than projected financial information, other forward looking information relating to third parties and
information of a general economic or general industry nature) furnished by or on behalf of the Borrower to the Administrative Agent
in connection with the negotiation of this Agreement and the other Loan Documents or delivered hereunder or thereunder (as modified
or supplemented by other information so furnished) when taken as a whole (and after giving effect to all updates, modifications
and supplements) contains any material misstatement of fact or omits to state any material fact necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading; provided that with respect to projected
financial information, the Borrower represents only that such information was prepared in good faith based upon assumptions believed
to be reasonable at the time.

 

Section 3.10           
Investment Company Act; Margin Regulations.

 

(a)               
Status as Business Development Company. The Borrower has elected to be regulated as a “business development
company” within the meaning of the Investment Company Act and has taken, and will continue to take, all actions necessary
to elect to be treated as a RIC beginning with its taxable year ended December 31, 2012.

 

(b)               
Compliance with Investment Company Act. The business and other activities of the Borrower and its Subsidiaries, including
the making of the Loans hereunder, the application of the proceeds and repayment thereof by the Borrower and the consummation of
the Transactions contemplated by the Loan Documents do not result in a violation or breach in any material respect of the provisions
of the Investment Company Act or any rules, regulations or orders issued by the Securities and Exchange Commission thereunder,
in each case that are applicable to the Borrower and its Subsidiaries.

 

(c)               
Investment Policies. The Borrower is in compliance in all material respects with the Investment Policies (after giving
effect to any Permitted Policy Amendments).

 

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(d)               
 Use of Credit. Neither the Borrower nor any of its Subsidiaries is engaged principally, or as one of its important
activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying
Margin Stock, and no part of the proceeds of any extension of credit hereunder will be used to buy or carry any Margin Stock.

 

Section 3.11           
Material Agreements and Liens.

 

(a)               
Material Agreements. Part A of Schedule 3.11 is a complete and correct list, as of
the Effective Date, of each credit agreement, loan agreement, indenture, purchase agreement, guarantee, letter of credit or other
arrangement providing for or otherwise relating to any Indebtedness or any extension of credit (or commitment for any extension
of credit) to, or guarantee by, the Borrower or any of its Subsidiaries outstanding on the Effective Date, and the aggregate principal
or face amount outstanding or that is, or may become, outstanding under each such arrangement is correctly described in Part A
of Schedule 3.11.

 

(b)               
Liens. Part B of Schedule 3.11 is a complete and correct list, as of the Effective
Date, of each Lien securing Indebtedness of any Person outstanding on the Effective Date covering any property of the Borrower
or any of the Subsidiary Guarantors, and the aggregate Indebtedness secured (or that may be secured) by each such Lien and the
property covered by each such Lien is correctly described in Part B of Schedule 3.11.

 

Section 3.12           
Subsidiaries and Investments.

 

(a)               
Subsidiaries. Set forth on Schedule 3.12(a) is a list of the Borrower’s Subsidiaries as
of the Effective Date.

 

(b)               
Investments. Set forth on Schedule 3.12(b) is a complete and correct list, as of the Effective
Date, of all Investments (other than Investments of the types referred to in clauses (b), (c) and (d) of Section 6.04)
held by the Borrower or any of the Subsidiary Guarantors in any Person on the Effective Date and, for each such Investment, (x)
the identity of the Person or Persons holding such Investment and (y) the nature of such Investment. Except as disclosed in Schedule 3.12,
each of the Borrower and any of the Subsidiary Guarantors owns, free and clear of all Liens (other than Liens created pursuant
to this Agreement or the Security Documents and Permitted Liens), all such Investments.

 

Section 3.13           
Properties.

 

(a)               
Title Generally. Each of the Borrower and the Subsidiary Guarantors has good title to, or valid leasehold interests
in, all its real and personal property material to its business, except for minor defects in title that do not interfere with its
ability to conduct its business as currently conducted or to utilize such properties for their intended purposes.

 

(b)               
Intellectual Property. Each of the Borrower and its Subsidiaries (other than any Financing Subsidiary) owns, or is
licensed to use, all trademarks, tradenames, copyrights, patents and other intellectual property material to its business, and
the use thereof by the Borrower and its Subsidiaries (other than any Financing Subsidiary) does not infringe upon the rights of
any other Person, except for any such infringements that, individually or in the aggregate, could not reasonably be expected to
result in a Material Adverse Effect.

 

Section 3.14            Affiliate
Agreements. As of the date hereof, the Borrower has heretofore delivered to the Administrative Agent true and complete
copies of each of the Affiliate Agreements (including and schedules and exhibits thereto, and any amendments, supplements or
waivers executed and delivered thereunder). As of the date of hereof, each of the Affiliate Agreements is in full force and
effect.

 

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Section 3.15           
Sanctions Laws and Regulations. None of the Borrower or its Subsidiaries, or to the best knowledge of the Borrower,
any director, officer, broker or other agent of the Borrower or any of its Subsidiaries, in each case, acting or benefiting in
any capacity in connection with this Agreement, is a Designated Person.

 

Section 3.16           
Patriot Act. Each of the Borrower and its Subsidiaries is in compliance with (a) the Trading with the Enemy Act,
as amended, and each of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter
V, as amended) and any other enabling legislation or executive order relating thereto, and (b) the Uniting And Strengthening America
By Providing Appropriate Tools Required To Intercept And Obstruct Terrorism (USA Patriot Act of 2001). No part of the proceeds
of the Loans will be used, directly or indirectly, for any payments to any governmental official or employee, political party,
official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain,
retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of
1977, as amended.

 

Section 3.17           
Collateral Documents. The provisions of the Security Documents are effective to create in favor of the Collateral
Agent a legal, valid and enforceable first priority Lien (subject to Liens permitted by Section 6.02) on all
right, title and interest of the Borrower and each Subsidiary Guarantor in the Collateral described therein. Except for filings
completed prior to the Effective Date and as contemplated hereby and by the Security Documents, no filing or other action will
be necessary to perfect such Liens.

 

Article
IV

CONDITIONS

 

Section 4.01           
Effective Date. The effectiveness of this Agreement and of the obligations of the Lenders to make Loans and of the
Issuing Bank to issue Letters of Credit hereunder shall not become effective until completion of each of the following conditions
precedent (unless a condition shall have been waived in accordance with Section 9.02):

 

(a)               
Documents. Administrative Agent shall have received each of the following documents, each of which shall be satisfactory
to the Administrative Agent (and to the extent specified below to each Lender) in form and substance:

 

(i)                
Executed Counterparts. From each party hereto either (i) a counterpart of this Agreement signed on behalf of such
party or (ii) written evidence satisfactory to the Administrative Agent (which may include telecopy transmission of a signed signature
page to this Agreement) that such party has signed a counterpart of this Agreement.

 

(ii)              
Opinion of Counsel to the Borrower. A favorable written opinion (addressed to the Administrative Agent and the Lenders
and dated the Effective Date) of Eversheds Sutherland (US) LLP, New York and Maryland counsel for the Borrower and the Subsidiary
Guarantors, in form and substance reasonably acceptable to the Administrative Agent (and the Borrower hereby instructs such counsel
to deliver such opinion to the Lenders and the Administrative Agent).

 

(iii)             Corporate
Documents. Such documents and certificates as the Administrative Agent or its counsel may reasonably request relating to
the organization, existence and good standing of the Borrower, the authorization of the Transactions and any other legal
matters relating to the Borrower, this Agreement or the Transactions, all in form and substance satisfactory to the
Administrative Agent and its counsel.

 

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(iv)             
Officer’s Certificate. A certificate, dated the Effective Date and signed by the President, the Chief Executive
Officer, a Vice President or a Financial Officer of the Borrower, confirming compliance with the conditions set forth in the lettered
clauses of the first sentence of Section 4.02.

 

(v)               
Guarantee and Security Agreement. The Guarantee and Security Agreement, duly executed and delivered by each of the
parties to the Guarantee and Security Agreement.

 

(vi)             
Borrowing Base Certificate. A Borrowing Base Certificate showing a calculation of the Borrowing Base as of July 31,
2020.

 

(b)               
Liens. The Administrative Agent shall have received results of a recent lien search in each relevant jurisdiction
with respect to the Borrower and the Subsidiary Guarantors, confirming that each financing statement in respect of the Liens in
favor of the Collateral Agent created pursuant to the Security Documents is otherwise prior to all other financing statements or
other interests reflected therein (other than any financing statement or interest in respect of liens permitted under Section 6.02
or liens to be discharged on or prior to the Effective Date pursuant to documentation satisfactory to the Administrative Agent)
and revealing no liens on any of the assets of the Borrower or the Subsidiary Guarantors (except for liens permitted under Section 6.02
or liens to be discharged on or prior to the Effective Date pursuant to documentation satisfactory to the Administrative Agent).
All UCC financing statements and similar documents required to be filed in order to create in favor of the Collateral Agent, for
the benefit of the Lenders, a first priority perfected security interest in the Collateral (to the extent that such a security
interest may be perfected by a filing under the Uniform Commercial Code) shall have been properly filed in each jurisdiction required
(or arrangements for such filings acceptable to the Collateral Agent shall have been made).

 

(c)               
Consents. The Borrower shall have obtained and delivered to the Administrative Agent copies of all consents, approvals,
authorizations, registrations, or filings required to be made or obtained by the Borrower and all Subsidiary Guarantors in connection
with the Transactions and any transaction being financed with the proceeds of the Loans, and such consents, approvals, authorizations,
registrations, filings and orders shall be in full force and effect and all applicable waiting periods shall have expired and no
investigation or inquiry by any Governmental Authority regarding the Transactions or any transaction being financed with the proceeds
of the Loans shall be ongoing.

 

(d)               
Fees and Expenses. The Borrower shall have paid in full to the Administrative Agent all fees and expenses related
to this Agreement owing on the Effective Date, including the fees specified in the Fee Letter that are due and payable on the Effective
Date.

 

(e)               
Patriot Act. The Administrative Agent and the Lenders shall have received, sufficiently in advance of the Effective
Date, all documentation and other information required by bank regulatory authorities under applicable “know your customer”
and anti-money laundering rules and regulations, including the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October
26, 2001)).

 

(f)                
Other Documents. The Administrative Agent shall have received such other documents as the Administrative Agent or
any Lender may reasonably request in form and substance satisfactory to the Administrative Agent.

 

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Section 4.02           
Each Credit Event. The obligation of each Lender to make any Loan, and of the Issuing Bank to issue, amend, renew or extend
any Letter of Credit, is additionally subject to the satisfaction of the following conditions:

 

(a)               
the representations and warranties of the Borrower set forth in this Agreement and in the other Loan Documents shall be
true and correct in all material respects (or, in the case of any portion of any representations and warranties already subject
to a materiality qualifier, true and correct in all respects) on and as of the date of such Loan or the date of issuance, amendment,
renewal or extension of such Letter of Credit, as applicable, or, as to any such representation or warranty that refers to a specific
date, as of such specific date;

 

(b)               
at the time of and immediately after giving effect to such Loan or the issuance, amendment, renewal or extension of such
Letter of Credit, as applicable, no Default shall have occurred and be continuing; and

 

(c)               
either (i) the aggregate Covered Debt Amount (after giving effect to such extension of credit) shall not exceed the Borrowing
Base reflected on the Borrowing Base Certificate most recently delivered to the Administrative Agent or (ii) the Borrower shall
have delivered an updated Borrowing Base Certificate demonstrating that the Covered Debt Amount (after giving effect to such extension
of credit) shall not exceed the Borrowing Base after giving effect to such extension of credit as well as any concurrent acquisitions
of Investments or payment of outstanding Loans.

 

Each Borrowing and
each issuance, amendment, renewal or extension of a Letter of Credit shall be deemed to constitute a representation and warranty
by the Borrower on the date thereof as to the matters specified in the preceding sentence.

 

Article
V

AFFIRMATIVE COVENANTS

 

Until the Commitments
have expired or been terminated and the principal of and interest on each Loan and all fees payable hereunder shall have been paid
in full and all Letters of Credit shall have expired, been terminated, Cash Collateralized or backstopped and all LC Disbursements
shall have been reimbursed, the Borrower covenants and agrees with the Lenders that:

 

Section 5.01           
Financial Statements and Other Information. The Borrower will furnish to the Administrative Agent and each Lender:

 

(a)               
within 90 days after the end of each fiscal year of the Borrower, the audited consolidated balance sheet, income statement
and statement of cash flows of the Borrower and its Subsidiaries as of the end of and for such year, setting forth in each case
in comparative form the figures for the previous fiscal year, all reported on by Grant Thornton LLP or other independent public
accountants of recognized national standing to the effect that such consolidated financial statements present fairly in all material
respects the financial condition and results of operations of the Borrower and its Subsidiaries on a consolidated basis in accordance
with GAAP consistently applied; provided that the requirements set forth in this clause (a) may be fulfilled
by providing to the Administrative Agent and the Lenders the report of the Borrower to the SEC on Form 10-K for the applicable
fiscal year;

 

(b)                within
45 days after the end of each of the first three fiscal quarters of each fiscal year of the Borrower, the consolidated
balance sheet, income statement and statement of cash flows of the Borrower and its Subsidiaries as of the end of and for
such fiscal quarter and the then elapsed portion of the fiscal year, setting forth in each case in comparative form the
figures for (or, in the case of the statements of assets and liabilities, operations, changes in net assets and cash flows,
as of the end of) the corresponding period or periods of the previous fiscal year, all certified by a Financial Officer of
the Borrower as presenting fairly in all material respects the financial condition and results of operations of the Borrower
and its Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit
adjustments and the absence of footnotes; provided that the requirements set forth in this clause (b) may
be fulfilled by providing to the Lenders the report of the Borrower to the SEC on Form 10-Q for the applicable quarterly
period;

 

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(c)               
concurrently with any delivery of financial statements under clause (a) or (b) of this Section, a certificate
of a Financial Officer of the Borrower (i) certifying that such statements are consistent with the financial statements filed by
the Borrower with the Securities and Exchange Commission, (ii) certifying as to whether the Borrower has knowledge that a Default
has occurred during the applicable period and, if a Default or an Event of Default has occurred, specifying the details thereof
and any action taken or proposed to be taken with respect thereto, (iii) setting forth reasonably detailed calculations demonstrating
compliance with Sections 6.01, 6.02, 6.04 and 6.07 (with respect to such
financial covenants under Section 6.07, unless otherwise required by Administrative Agent with respect to Sections
6.07(b) and (c), each of the financial covenants set forth in Section 6.07 shall be calculated
and tested as of the last day of each March, June, September, and December, commencing with the first such date to occur after
the Effective Date), (iv) setting forth the Borrower’s Good Faith Tax Estimate for the current taxable year as of the last
day of the most recent fiscal quarter, and (v) stating whether any change in GAAP as applied by (or in the application of GAAP
by) the Borrower has occurred since the Effective Date and, if any such change has occurred, specifying the effect of such change
on the financial statements accompanying such certificate; furthermore, the Borrower shall also furnish a copy of the report of
the Approved Third-Party Appraiser regarding Unquoted Investments within 45 days after the end of each fiscal quarter of the Borrower;

 

(d)               
as soon as available and in any event not later than 20 days after the end of each monthly accounting period (ending on
the last day of each calendar month) of the Borrower and its Subsidiaries, a Borrowing Base Certificate as at the last day of such
accounting period;

 

(e)               
promptly but no later than five Business Days after the Borrower shall at any time have knowledge that there is a Borrowing
Base Deficiency, a Borrowing Base Certificate as at the date the Borrower has knowledge of such Borrowing Base Deficiency indicating
the amount of the Borrowing Base Deficiency as at the date the Borrower obtained knowledge of such deficiency and the amount of
the Borrowing Base Deficiency as of the date not earlier than one Business Day prior to the date the Borrowing Base Certificate
is delivered pursuant to this paragraph;

 

(f)                
promptly upon receipt thereof copies of all significant reports submitted by the Borrower’s independent public accountants
in connection with each annual, interim or special audit or review of any type of the financial statements or related internal
control systems of the Borrower or any of its Subsidiaries delivered by such accountants to the management or board of directors
of the Borrower;

 

(g)               
promptly after the same become publicly available, copies of all periodic and other reports, proxy statements and other
materials filed by the Borrower or any of its Subsidiaries with the Securities and Exchange Commission, or any Governmental Authority
succeeding to any or all of the functions of said Commission, or with any national securities exchange, as the case may be; and

 

(h)                promptly
following any request therefor, such other information regarding the operations, business affairs and financial condition of
the Borrower or any of its Subsidiaries, or compliance with the terms of this Agreement and the other Loan Documents, as the
Administrative Agent or any Lender may reasonably request.

 

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Borrower and each Lender
acknowledge that certain of the Lenders may be Public Lenders and, if documents or notices required to be delivered pursuant to
this Section 5.01 or otherwise are being distributed through DebtX, IntraLinks/IntraAgency, SyndTrak or another
relevant website or other information platform (the “Platform”), any document or notice that Borrower
has indicated contains Non-Public Information shall not be posted by Administrative Agent on that portion of the Platform designated
for such Public Lenders. Borrower agrees to clearly designate all information provided to Administrative Agent by or on behalf
of Borrower or any of its Subsidiaries which is suitable to make available to Public Lenders. If Borrower has not indicated whether
a document or notice delivered pursuant to this Section 5.01 contains Non-Public Information, the Administrative
Agent reserves the right to post such document or notice solely on that portion of the Platform designated for Lenders who wish
to receive material Non-Public Information with respect to Borrower, its Subsidiaries and their Securities (as such term is defined
in Section 5.13 of this Agreement).

 

Section 5.02           
Notices of Material Events. The Borrower will furnish to the Administrative Agent and each Lender prompt written
notice of the following:

 

(a)               
the occurrence of any Default or Event of Default;

 

(b)               
the filing or commencement of any action, suit or proceeding by or before any arbitrator or Governmental Authority against
or affecting the Borrower or any of its Affiliates that, if adversely determined, could reasonably be expected to result in a Material
Adverse Effect;

 

(c)               
the occurrence of any ERISA Event that, alone or together with any other ERISA Events that have occurred, could reasonably
be expected to result in liability of the Borrower and its Subsidiaries in an aggregate amount exceeding $1,000,000; and

 

(d)               
any other development that results in, or could reasonably be expected to result in, a Material Adverse Effect.

 

Each notice delivered
under this Section shall be accompanied by a statement of a Financial Officer or other executive officer of the Borrower setting
forth the details of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto.

 

Section 5.03           
Existence: Conduct of Business. The Borrower will, and will cause each of its Subsidiaries (other than Immaterial
Subsidiaries) to, do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence
and the rights, licenses, permits, privileges and franchises material to the conduct of its business; provided that the
foregoing shall not prohibit (a) any merger, consolidation, liquidation or dissolution permitted under Section 6.03
or (b) the dissolution of any Financing Subsidiary.

 

Section 5.04           
Payment of Obligations. The Borrower will, and will cause each of its Subsidiaries to, pay its obligations, including
income Tax and other material Tax liabilities and material contractual obligations, that, if not paid, could reasonably be expected
to result in a Material Adverse Effect before the same shall become delinquent or in default, except where (a) the validity or
amount thereof is being contested in good faith by appropriate proceedings, (b) the Borrower or such Subsidiary has set aside on
its books adequate reserves with respect thereto in accordance with GAAP and (c) the failure to make payment pending such contest
could not reasonably be expected to result in a Material Adverse Effect.

 

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Section 5.05           
Maintenance of Properties; Insurance1.; Primary Depositary Bank. The Borrower will, and will cause each of its Subsidiaries
(other than Immaterial Subsidiaries) to, (a) keep and maintain all property material to the conduct of its business in good working
order and condition, ordinary wear and tear excepted, and (b) maintain, with financially sound and reputable insurance companies
in the Borrower’s reasonable judgment, insurance in such amounts and against such risks as are customarily maintained by
companies engaged in the same or similar businesses operating in the same or similar locations. Borrower shall establish and maintain
its primary banking depository and disbursement relationships with Amegy Bank and shall maintain all Cash Collateral (other than
credit support not constituting funds subject to deposit) in blocked, non-interest bearing deposit accounts at Amegy Bank.

 

Section 5.06           
Books and Records; Inspection and Audit Rights. The Borrower will, and will cause each of its Subsidiaries to, keep
books of record and account in accordance with GAAP. The Borrower will, and will cause each other Obligor to, permit any representatives
designated by the Administrative Agent or any Lender, upon reasonable prior notice, to visit and inspect its properties during
business hours, to examine and make extracts from its books and records, and to discuss its affairs, finances and condition with
its officers and independent accountants, all at such reasonable times and as often as reasonably requested, in each case, to the
extent such inspection or requests for such information are reasonable and such information can be provided or discussed without
violation of law, rule, regulation, order of any Governmental Authority or contract; provided that, the Borrower or such
Obligor shall be entitled to have its representatives and advisors present during any inspection of its books and records.

 

Section 5.07           
Compliance with Laws. The Borrower will, and will cause each of its Subsidiaries to, comply with all laws, rules,
regulations, including the Investment Company Act, and orders of any Governmental Authority applicable to it or its property, except
where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse
Effect. Without limiting the generality of the foregoing, the Borrower will, and will cause its Subsidiaries to, conduct its business
and other activities in compliance in all material respects with the provisions of the Investment Company Act and any applicable
rules, regulations or orders issued by the Securities and Exchange Commission thereunder.

 

Section 5.08           
Certain Obligations Respecting Subsidiaries; Further Assurances.

 

(a)               
Subsidiary Guarantors. In the event that the Borrower or any of the Subsidiary Guarantors shall form or acquire any
new Subsidiary (other than a Financing Subsidiary, a Foreign Subsidiary, an Immaterial Subsidiary or a Subsidiary of a Foreign
Subsidiary), the Borrower will cause such new Subsidiary to become a “Subsidiary Guarantor” (and, thereby, an “Obligor”)
under the Guarantee and Security Agreement pursuant to a Guarantee Assumption Agreement and to deliver such proof of corporate
or other action, incumbency of officers, opinions of counsel and other documents as is consistent with those delivered by the Borrower
pursuant to Section 4.01 upon the Effective Date or as the Administrative Agent shall have requested.

 

(b)               
Ownership of Subsidiaries. The Borrower will, and will cause each of its Subsidiaries to, take such action from time
to time as shall be necessary to ensure that each of its Subsidiaries is a wholly owned Subsidiary.

 

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(c)                Further
Assurances. The Borrower will, and will cause each of the Subsidiary Guarantors to, take such action from time to time as
shall reasonably be requested by the Administrative Agent to effectuate the purposes and objectives of this Agreement.
Without limiting the generality of the foregoing, the Borrower will, and will cause each of the Subsidiary Guarantors to,
take such action from time to time (including filing appropriate Uniform Commercial Code financing statements and executing
and delivering such assignments, security agreements and other instruments) as shall be reasonably requested by the
Administrative Agent: (i) to create, in favor of the Collateral Agent for the benefit of the Lenders (and any affiliate
thereof that is a party to any Hedging Agreement entered into with the Borrower) perfected security interests and Liens in
the Collateral; provided that any such security interest or Lien shall be subject to the relevant requirements of the
Security Documents, (ii) to cause any bank or securities intermediary (within the meaning of the Uniform Commercial Code) to
enter into such arrangements with the Collateral Agent as shall be appropriate in order that the Collateral Agent has
 “control” (within the meaning of the Uniform Commercial Code) over each bank account or securities account
of the Obligors, and in that connection, the Borrower agrees to cause all cash and other proceeds of Investments received by
any Obligor to be promptly deposited into such an account (or otherwise delivered to, or registered in the name of, the
Collateral Agent), (iii) in the case of any Investment consisting of a Bank Loan (as defined in Section 5.13)
that does not constitute all of the credit extended to the underlying borrower under the relevant underlying loan documents
and a Financing Subsidiary holds any interest in the loans or other extensions of credit under such loan documents, (x) to
cause such Financing Subsidiary to be party to such underlying loan documents as a “lender” having a direct
interest in such underlying loan documents and the extensions of credit thereunder and (y) to ensure that all amounts owing
to such Obligor (including any amounts owing to such Obligor in its capacity as the administrative agent) or Financing
Subsidiary by the underlying borrower or other obligated party are remitted by such borrower or obligated party directly to
separate accounts of such Obligor and such Financing Subsidiary, as applicable, (iv) in the event that any Obligor is acting
as an agent or administrative agent under any loan documents with respect to any Bank Loan that does not constitute all of
the credit extended to the underlying borrower under the relevant underlying loan documents, to ensure that all funds held by
such Obligor in such capacity as agent or administrative agent is segregated from all other funds of such Obligor and clearly
identified as being held in an agency capacity and (v) to cause the closing sets and all executed amendments, consents,
forbearances and other modifications and assignment agreements relating to any Investment and any other documents relating to
any Investment requested by the Collateral Agent, in each case, to be held by the Collateral Agent or a custodian pursuant to
the terms of a custodian agreement reasonably satisfactory to the Collateral Agent.

 

Section 5.09           
Use of Proceeds. The Borrower will use the proceeds of the Loans only for general corporate purposes of the Borrower
in the ordinary course of business, including the acquisition and funding (either directly or through one or more wholly-owned
Subsidiaries) of leveraged loans, mezzanine loans, high-yield securities, convertible securities, preferred stock, common stock
and other Investments; provided that, neither the Administrative Agent nor any Lender shall have any responsibility as to
the use of any of such proceeds. No part of the proceeds of any Loan will be used in violation of applicable law or, directly or
indirectly, for the purpose, whether immediate, incidental or ultimate, of buying or carrying any Margin Stock. Margin Stock shall
be purchased by the Obligors only with the proceeds of Indebtedness not directly or indirectly secured by Margin Stock, or with
the proceeds of equity capital of the Borrower.

 

Section 5.10           
Status of RIC and BDC. The Borrower shall (a) take all actions necessary to qualify as a RIC and to thereafter maintain
its qualification as a RIC, and (b) at all times maintain its status as a “business development company” under the
Investment Company Act.

 

Section 5.11           
Investment Policies. The Borrower shall at all times be in compliance in all material respects with its Investment
Policies (after giving effect to any Permitted Policy Amendments).

 

Section 5.12           
Portfolio Valuation and Diversification Etc.

 

(a)                Industry
Classification Groups. For purposes of this Agreement, the Borrower shall assign each Portfolio Investment to an Industry
Classification Group. To the extent that any Portfolio Investment is not correlated with the risks of other Portfolio
Investments in an Industry Classification Group, such Portfolio Investment may be assigned by the Borrower to an Industry
Classification Group that is more closely correlated to such Portfolio Investment. In the absence of any correlation, the
Borrower shall be permitted, upon prior notice to the Administrative Agent and each Lender, to create up to three additional
industry classification groups for purposes of this Agreement after the Effective Date.

 

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(b)               
Portfolio Valuation Etc.

 

(i)                
Settlement Date Basis. For purposes of this Agreement, all determinations of whether an investment is to be included
as a Portfolio Investment shall be determined on a settlement-date basis (meaning that any investment that has been purchased will
not be treated as a Portfolio Investment until such purchase has settled, and any Portfolio Investment which has been sold will
not be excluded as a Portfolio Investment until such sale has settled); provided that no such investment shall be included
as a Portfolio Investment to the extent it has not been paid for in full.

 

(ii)              
Determination of Values. The Borrower will conduct reviews of the value to be assigned to each of its Portfolio Investments
as follows:

 

(A)             
Quoted Investments – External Review. With respect to Portfolio Investments (including Cash Equivalents) for
which market quotations are readily available, the Borrower shall, not less frequently than once each calendar month, determine
the market value of such Portfolio Investments which shall, in each case, be determined in accordance with one of the following
methodologies (as selected by the Borrower):

 

(w)       in
the case of public and 144A securities, the average of the bid prices as determined by two Approved Dealers selected by the Borrower,

 

(x)       in
the case of bank loans, the bid price as determined by one Approved Dealer selected by the Borrower,

 

(y)       in
the case of any Portfolio Investment traded on an exchange, the closing price for such Portfolio Investment most recently posted
on such exchange, and

 

(z)       in
the case of any other Portfolio Investment, the fair market value thereof as determined by an Approved Pricing Service.

 

(B)              Unquoted
Investments – External Review. With respect to each Portfolio Investment for which market quotations are not
readily available, the Borrower shall select an Approved Third-Party Appraiser to determine whether the fair market value of
each such Portfolio Investment calculated by the Borrower is within a reasonable range (on a positive assurance basis).
Within 45 days after the end of each fiscal quarter, the Borrower shall provide to the Administrative Agent a copy of a
report of such Approved Third-Party Appraiser as at the last day of such fiscal quarter.  Each such report shall address
the valuation of each such Portfolio Investment to which the Borrower has assigned, in accordance with the Borrower’s
Investment Policies in effect on the Closing Date, an investment category of 3, 4 or 5 (as such investment categories are
defined in the Borrower’s filings with the Securities and Exchange Commission), and such report for two fiscal quarters
each year shall also address the valuation of all other Portfolio Investments for which market quotations are not readily
available. Furthermore, the Value of any such Portfolio Investment (i.e., a Portfolio Investment for which market quotations
are not readily available) acquired shall be deemed to be equal to the cost of such Portfolio Investment until such time as
the fair market value of such Portfolio Investment is determined in accordance with the provisions of this sub-clause (B).

 

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(C)             
Internal Review. The Borrower shall conduct internal reviews of all Portfolio Investments at least once each calendar
month which shall take into account any events of which the Borrower has actual knowledge that adversely affect the value of the
Portfolio Investments. If the value of any Portfolio Investment as most recently determined by the Borrower pursuant to this Section 5.12(b)(ii)(C)
is lower than the value of such Portfolio Investment as most recently determined pursuant to Section 5.12(b)(ii)(A)
and (B), such lower value shall be deemed to be the “Value” of such Portfolio Investment for purposes
hereof; provided that the Value of any Portfolio Investment of the Borrower and its Subsidiaries shall be increased by the
net unrealized gain as at the date such Value is determined of any Hedging Agreement entered into to hedge risks associated with
such Portfolio Investment and reduced by the net unrealized loss as at such date of any such Hedging Agreement (such net unrealized
gain or net unrealized loss, on any date, to be equal to the aggregate amount receivable or payable under the related Hedging Agreement
if the same were terminated on such date).

 

(D)             
Failure to Determine Values. If the Borrower shall fail to determine the value of any Portfolio Investment as at
any date pursuant to the requirements of the foregoing sub-clauses (A), (B) or (C), then the “Value”
of such Portfolio Investment as at such date shall be deemed to be zero.

 

(E)              
Testing of Values.

 

(x)       For
the second calendar month immediately following the end of each fiscal quarter (the last such fiscal quarter is referred to herein
as, the “Testing Period”), the Administrative Agent shall have the right to cause an Approved Third-Party
Appraiser selected by the Administrative Agent to value (on a positive assurance basis) such number of Unquoted Investments (selected
by the Administrative Agent) that collectively have an aggregate Value approximately equal to the Calculation Amount. If there
is a difference between the Borrower’s valuation and the Approved Third-Party Appraiser’s valuation of any Unquoted
Investment, the Value of such Unquoted Investment for Borrowing Base purposes shall be established as set forth in sub-clause (F)
below.

 

(y)       For
the avoidance of doubt, the valuation of any Approved Third-Party Appraiser selected by the Administrative Agent would not be as
of, or delivered at, the end of any fiscal quarter. Any such valuation would be as of the end of the second month immediately following
any fiscal quarter and would be reflected in the Borrowing Base Certificate for such month (provided that such Approved
Third-Party Appraiser delivers such valuation at least seven (7) Business Days before the 20th day after the end of the applicable
monthly accounting period and, if such valuation is delivered after such time, it shall be included in the Borrowing Base Certificate
for the following monthly period and applied to the then applicable balance of the related Portfolio Investment). For illustrative
purposes, if the given fiscal quarter is the fourth quarter ending on

 

December 31, 2020, then (A) the
Administrative Agent would initiate the testing of Values (using the December 31, 2020 Calculation Amount for purposes of determining
the scope of the testing under clauses (E)(x)) during the month of February with the anticipation of receiving the valuations
from the applicable Approved Third-Party Appraiser(s) on or after February 28, 2021 and (B)(xx) if such valuations were received
before the 7th Business Day before March 20, 2021, such valuations would be included in the March 20, 2021 Borrowing Base Certificate
covering the month of February, or (yy) if such valuations were received after such time, they would be included in the April 20,
2021 Borrowing Base Certificate for the month of March.

 

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For the avoidance of doubt, all
calculations of value pursuant to this Section 5.12(b)(ii)(E) shall be determined without application of the
Advance Rates.

 

(F)              
Valuation Dispute Resolution. Notwithstanding the foregoing, the Administrative Agent shall at any time have the
right to request any Unquoted Investment be independently valued (on a positive assurance basis) by an Approved Third-Party Appraiser
selected by the Administrative Agent. There shall be no limit on the number of such appraisals requested by the Administrative
Agent and the costs of any such valuation shall be at the expense of the Borrower. If the difference between the Borrower’s
valuation pursuant to Section 5.12(b)(ii)(B) and the valuation of any Approved Third-Party Appraiser selected
by the Administrative Agent pursuant to Section 5.12(b)(ii)(E) or (F) is (1) less than 5% of the
value thereof, then the Borrower’s valuation shall be used, (2) between 5% and 20% of the value thereof, then the valuation
of such Portfolio Investment shall be the average of the value determined by the Borrower and the value determined by the Approved
Third-Party Appraiser retained by the Administrative Agent and (3) greater than 20% of the value thereof, then the Borrower and
the Administrative Agent shall select an additional Approved Third-Party Appraiser and the valuation of such Portfolio Investment
shall be the average of the three valuations (with the Administrative Agent’s Approved Third-Party Appraiser’s valuation
to be used until the third valuation is obtained).

 

(c)          RIC Diversification Requirements. The Borrower will at all times, subject to applicable grace periods set forth in
the Code, comply with the portfolio diversification requirements set forth in Section 851(b)(3) of the Code.

 

Section 5.13         Calculation of Borrowing Base. For purposes of this Agreement, the “Borrowing Base” shall
be determined, as at any date of determination, as the sum of the Advance Rates of the Value of each Portfolio Investment (excluding
any Cash Collateral held by the Administrative Agent pursuant to Section 2.05(k) or the last paragraph of Section 2.09(a));
provided that:

 

(a)          the Advance Rate applicable to that portion of the aggregate Value of the Portfolio Investments of all issuers in a consolidated
group of corporations or other entities (collectively, a “Consolidated Group”) exceeding 20% of Shareholders’
Equity of the Borrower (which, for purposes of this calculation shall exclude the aggregate amount of investments in, and advances
to, Financing Subsidiaries) shall be 0%;

 

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(b)          the
Advance Rate applicable to that portion of the aggregate Value of the Portfolio Investments in any single Industry
Classification Group that exceeds 25% of Shareholders’ Equity of the Borrower (which for purposes of this calculation
shall exclude the aggregate amount of investments in, and advances to, Financing Subsidiaries) shall be 0%; provided
that, with respect to the Portfolio Investments in a single Industry Classification Group from time to time designated by the
Borrower to the Administrative Agent, such 25% figure shall be increased to 30% and, accordingly, only to the extent that the
Value for such single Industry Classification Group exceeds 30% of the Shareholders’ Equity shall the Advance Rate
applicable to such excess Value be 0%;

 

(c)          no Portfolio Investment may be included in the Borrowing Base unless the Collateral Agent maintains a first-priority, perfected
Lien (subject to Permitted Liens) on such Portfolio Investment and such Portfolio Investment has been Delivered (as defined in
the Guarantee and Security Agreement) to the Collateral Agent, and then only for so long as such Portfolio Investment continues
to be Delivered as contemplated therein;

 

(d)          no portion of any Portfolio Investment (whether quoted or unquoted) for which the applicable Advance Rate specified below
is 0% shall be included in the Borrowing Base at any time;

 

(e)          the portion of the Borrowing Base attributable to Portfolio Investments invested outside the United States and Canada shall
not exceed 5% without the consent of the Administrative Agent; and

 

(f)           from and after the Effective Date and prior to April 1, 2021, while any Portfolio Investment is subject to a Covid-19 Grace
Period in accordance with the definition of “Performing”, such Portfolio Investment may be included in
the Borrowing Base during the same period in which the Covid-19 Grace Period is in effect for such Portfolio Investment, so long
as (i) such Portfolio Investment would otherwise be included in the Borrowing Base under this Section 5.13, and (ii)
the portion of the Borrowing Base attributable to all Portfolio Investments which are subject to a Covid-19 Grace Period at the
time of determination of the Borrowing Base shall not exceed 10%.

 

As used herein, the following terms have
the following meanings:

 

“Advance
Rate” means, as to any Portfolio Investment and subject to adjustment as provided in Section 5.13(a),
(b) and (c), the following percentages with respect to such Portfolio Investment:

 

	Portfolio Investment	 	Quoted	 	Unquoted
	Cash, Cash Equivalents and Short-Term U.S. Government Securities	 	100%	 	0%
	Long-Term U.S.  Government Securities	 	95%	 	0%
	Performing First Lien Bank Loans	 	75%	 	65%
	Performing Unitranche Loans	 	65%	 	55%
	Performing Second Lien Bank Loans	 	60%	 	50%
	Performing Cash Pay Secured High Yield Securities	 	60%	 	50%
	Performing Cash Pay Unsecured High Yield Securities	 	50%	 	40%
	Performing Cash Pay Mezzanine Investments	 	45%	 	35%
	Non-Performing First Lien Bank Loans	 	0%	 	0%
	Non-Performing Unitranche Loans	 	0%	 	0%
	Non-Performing Second Lien Bank Loans	 	0%	 	0%
	Performing Non-Cash Pay Mezzanine Investments	 	0%	 	0%
	Performing Non-Cash Pay Secured High Yield Securities	 	0%	 	0%
	Performing Non-Cash Pay Unsecured High Yield Securities	 	0%	 	0%
	Performing Common Equity (and zero cost or penny warrants with performing debt)	 	0%	 	0%
	Non-Performing Mezzanine Investments	 	0%	 	0%
	Non-Performing High Yield Securities	 	0%	 	0%
	Non-Performing Common Equity	 	0%	 	0%
	Structured Finance Obligations and Finance Leases	 	0%	 	0%

 

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“Bank Loans”
means debt obligations (including term loans, revolving loans, debtor-in-possession financings, the funded and unfunded portion
of revolving credit lines and letter of credit facilities and other similar loans and investments including interim loans and senior
subordinated loans) which are generally under a loan or credit facility (whether or not syndicated).

 

“Capital
Stock” of any Person means any and all shares of corporate stock (however designated) of and any and all other Equity
Interests and participations representing ownership interests (including membership interests and limited liability company interests)
in, such Person.

 

“Covid-19
Grace Period” means, with respect of any Portfolio Investment that is debt or Preferred Stock, a one-time grace
period of three consecutive months, during which the issuer’s payment obligations of principal or interest in respect of
such debt or Preferred Stock is deferred following its applicable due date, as a result of the impact of COVID-19 on the business
and performance of such issuer.  The Covid-19 Grace Period may only be applied one-time to each Portfolio Investment in the
calculation of the Advance Rates.

 

“Finance
Lease” means any transaction representing the obligation of a lessee to pay rent or other amounts under a lease which
is required to be classified and accounted for as a capital lease on the balance sheet of such lessee under GAAP.

 

“First
Lien Bank Loan” means a Bank Loan that is entitled to the benefit of a first lien and first priority perfected security
interest (subject to Liens for “ABL” revolvers and customary encumbrances) on a substantial portion of the assets of
the respective borrower and guarantors obligated in respect thereof.

 

“High Yield
Securities” means debt Securities and Preferred Stock, in each case (a) issued by public or private issuers,
(b) issued pursuant to an effective registration statement or pursuant to Rule 144A under the Securities Act (or any successor
provision thereunder) or other exemption to the Securities Act and (c) that are not Cash Equivalents, Mezzanine Investments or
Bank Loans.

 

“Long-Term
U.S. Government Securities” means U.S. Government Securities maturing more than one month from the applicable date
of determination.

 

“Mezzanine
Investments” means debt Securities (including convertible debt Securities (other than the “in-the-money”
equity component thereof)) and Preferred Stock in each case (a) issued by public or private issuers, (b) issued without registration
under the Securities Act, (c) not issued pursuant to Rule 144A under the Securities Act (or any successor provision thereunder),
(d) that are not Cash Equivalents and (e) contractually subordinated in right of payment to other debt of the same issuer.

 

“Non-Performing
Common Equity” means Capital Stock (other than Preferred Stock) and warrants of an issuer having any debt outstanding
that is not Performing.

 

“Non-Performing
First Lien Bank Loans” means First Lien Bank Loans other than Performing First Lien Bank Loans.

 

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“Non-Performing
High Yield Securities” means High Yield Securities other than Performing High Yield Securities.

 

“Non-Performing
Mezzanine Investments” means Mezzanine Investments other than Performing Mezzanine Investments.

 

“Non-Performing
Portfolio Investment” means Portfolio Investments for which the issuer is in default of any payment obligations of
principal or interest in respect thereof after the expiration of any applicable grace period.

 

“Non-Performing
Second Lien Bank Loans” means Second Lien Bank Loans other than Performing Second Lien Bank Loans.

 

“Non-Performing
Unitranche Loan” means Unitranche Loans other than Performing Unitranche Loans.

 

“Performing”
means (a) with respect to any Portfolio Investment that is debt, the issuer of such Portfolio Investment is not in default of any
payment obligations of principal or interest in respect thereof after giving effect to a Covid-19 Grace Period or any other applicable
grace period, (b) with respect to any Portfolio Investment that is Preferred Stock, the issuer of such Portfolio Investment has
not failed to meet any scheduled redemption obligations or to pay its latest declared cash dividend, after giving effect to a Covid-19
Grace Period or any other applicable grace period, and (c) with respect to any Portfolio Investment that is debt or Preferred Stock,
(i) Borrower has not received notice of any material impairment of the financial condition of the issuer of such debt or Preferred
Stock, and (ii) the issuer of such debt or Preferred Stock is not the subject of a bankruptcy, insolvency, reorganization, liquidation
or similar proceeding; provided that, with respect to any Portfolio Investment that is debt or Preferred Stock and that
the Borrower has assigned, in each case, in accordance with the Borrower’s Investment Policies in effect on the Closing Date,
to an investment category of 4 or 5 (as such investment categories are defined in the Borrower’s filings with the Securities
and Exchange Commission), such Portfolio Investment shall automatically be deemed as non-Performing, unless Administrative Agent
in its reasonable discretion has deemed such Portfolio Investment as Performing.

 

“Performing
Cash Pay High Yield Securities” means High Yield Securities (a) as to which, at the time of determination, not less
than 2/3rds of the interest (including accretions and “pay-in-kind” interest) for the current monthly, quarterly, semiannual
or annual period (as applicable) is payable in cash and (b) which are Performing.

 

“Performing
Cash Pay Mezzanine Investments” means Mezzanine Investments (a) as to which, at the time of determination, not less
than 2/3rds of the interest (including accretions and “pay-in-kind” interest) for the current monthly, quarterly, semi-annual
or annual period (as applicable) is payable in cash and (b) which are Performing.

 

“Performing
Common Equity” means Capital Stock (other than Preferred Stock) and warrants of an issuer all of whose outstanding
debt is Performing.

 

“Performing
First Lien Bank Loans” means First Lien Bank Loans which are Performing.

 

“Performing
Non-Cash Pay High Yield Securities” means Performing High Yield Securities other than Performing Cash Pay High Yield
Securities.

 

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“Performing
Non-Cash Pay Mezzanine Investments” means Performing Mezzanine Investments other than Performing Cash Pay Mezzanine
Investments.

 

“Performing
Second Lien Bank Loans” means Second Lien Bank Loans which are Performing.

 

“Preferred
Stock,” as applied to the Capital Stock of any Person, means Capital Stock of such Person of any class or classes
(however designated) that ranks prior, as to the payment of dividends or as to the distribution of assets upon any voluntary or
involuntary liquidation, dissolution or winding up of such Person, to any shares (or other interests) of other Capital Stock of
such Person, and shall include, without limitation, cumulative preferred, noncumulative preferred, participating preferred and
convertible preferred Capital Stock.

 

“Second
Lien Bank Loan” means a Bank Loan that is entitled to the benefit of a second lien and second-priority perfected
security interest (subject to customary encumbrances) on specified assets of the respective borrower and guarantors obligated in
respect thereof.

 

“Securities”
means common and preferred stock, units and participations, member interests in limited liability companies, partnership interests
in partnerships, notes, bonds, debentures, trust receipts and other obligations, instruments or evidences of indebtedness, including
debt instruments of public and private issuers and tax-exempt securities (including warrants, rights, put and call options and
other options relating thereto, representing rights, or any combination thereof) and other property or interests commonly regarded
as securities or any form of interest or participation therein, but not including Bank Loans.

 

“Securities
Act” means the United States Securities Act of 1933, as amended.

 

“Short-Term
U.S. Government Securities” means U.S. Government Securities maturing within one month of the applicable date of
determination.

 

“Structured
Finance Obligation” means any obligation issued by a special purpose vehicle and secured directly by, referenced
to, or representing ownership of, a pool of receivables or other financial assets of any obligor, including collateralized debt
obligations and mortgaged-backed securities. For the avoidance of doubt, if an obligation satisfies the definition of “Structured
Finance Obligation”, such obligation shall not (a) qualify as any other category of Portfolio Investment and (b) be included
in the Borrowing Base.

 

“Unitranche
Loan” means a Bank Loan that is a First Lien Bank Loan, a portion of which is, in effect, subject to superpriority
rights of other lenders following an event of default (such portion, a “second out” portion); provided, however, that
such second out portion shall not be treated as a Unitranche Loan (and instead shall be treated as a Second Lien Bank Loan) at
such times as the aggregate drawn principal amount of such second out portion constitutes less than 75% of the combined aggregate
drawn principal amount of (i) such second out portion and (ii) the portion of such Bank Loan in which such other lenders hold such
superpriority rights. As and at the times provided in the foregoing sentence, the Borrower’s investment in the second out
portion shall be treated as a Unitranche Loan or Second Lien Bank Loan, as applicable, for purposes of determining the applicable
Advance Rate for such Portfolio Investment.

 

“Value”
means, with respect to any Portfolio Investment, the lower of:

 

(i)            the most recent internal market value as determined pursuant to Section 5.12(b)(ii)(C) and

 

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(ii)           the
most recent external market value as determined pursuant to Section 5.12(b)(ii)(A) and (B).

 

Section 5.14          Refinancing of Unsecured Notes Due 2022. By no later than March 15, 2022, the Borrower shall cause at least the entire
outstanding principal balance of the Unsecured Notes Due 2022 to be extended and refinanced under the terms of a Permitted Refinancing
that complies with this Agreement (including, but not limited to, Section 6.01(b)).

 

Article
VI

NEGATIVE COVENANTS

 

Until the Commitments
have expired or terminated and the principal of and interest on each Loan and all fees payable hereunder have been paid in full
and all Letters of Credit have expired, been terminated, Cash Collateralized or backstopped and all LC Disbursements shall have
been reimbursed, the Borrower covenants and agrees with the Lenders that:

 

Section 6.01          Indebtedness. The Borrower will not, nor will it permit any of the Subsidiary Guarantors to, create, incur, assume
or permit to exist any Indebtedness, except:

 

(a)          Indebtedness created hereunder;

 

(b)          any Unsecured Longer-Term Indebtedness and the Unsecured Notes Due 2022 (and a Permitted Refinancing thereof) so long as
in each case (i) no Default or Event of Default exists at the time of the incurrence of such Unsecured Longer-Term Indebtedness
or at the time of such Permitted Refinancing of the Unsecured Notes Due 2022, and (ii) both before and after giving pro forma
effect to the incurrence of such Unsecured Longer-Term Indebtedness or such Permitted Refinancing of the Unsecured Notes Due 2022,
the Borrower is in compliance with the Asset Coverage Ratio set forth in Section 6.07(b);

 

(c)          Other Permitted Indebtedness;

 

(d)          repurchase obligations arising in the ordinary course of business with respect to U.S. Government Securities;

 

(e)          obligations payable to clearing agencies, brokers or dealers in connection with the purchase or sale of securities in the
ordinary course of business;

 

(f)           obligations (including Guarantees) in respect of Standard Securitization Undertakings;

 

(g)          Permitted SBIC Guarantees;

 

(h)          Indebtedness under any Treasury Credit Facility not to exceed $100,000,000 in the aggregate;

 

(i)           other Indebtedness not to exceed $3,000,000 at any time; and

 

(j)           Indebtedness of any Subsidiary Guarantor owed to the Borrower.

 

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Section 6.02          Liens.
The Borrower will not, nor will it permit any of the Subsidiary Guarantors to, create, incur, assume or permit to exist any
Lien on any property or asset now owned or hereafter acquired by it, or assign or sell any income or revenues (including
accounts receivable) or rights in respect of any thereof except:

 

(a)          any Lien on any property or asset of the Borrower or any of the Subsidiary Guarantors existing as of the Effective Date
and set forth in Part B of Schedule 3.11; provided that (i) no such Lien shall extend to
any other property or asset of the Borrower or any of the Subsidiary Guarantors, and (ii) any such Lien shall secure only
those obligations which it secures on the date hereof and extensions, renewals and replacements thereof that do not increase the
outstanding principal amount thereof;

 

(b)          Liens created pursuant to this Agreement (including Section 2.19) or any of the Security Documents;

 

(c)          Liens on Special Equity Interests included in the Investments of the Borrower but only to the extent securing obligations
in the manner provided in the definition of “Special Equity Interests” in Section 1.01;

 

(d)          Permitted Liens;

 

(e)          Liens on Equity Interests in any SBIC Subsidiary created in favor of the SBA;

 

(f)           Liens securing repurchase obligations arising in the ordinary course of business with respect to U.S. Government Securities;

 

(g)          Liens created pursuant to any Treasury Credit Facility; provided that such Liens (i) only constitute Liens on (A)
Cash not exceeding $2,000,000 at any one time outstanding and (B) U.S. Government Securities and (ii) do not constitute Liens on
any Investments, Cash or other property, in each case that constitute Collateral hereunder or are included in the Borrowing Base
hereunder; and

 

(h)          Liens securing Indebtedness or other obligations in an aggregate principal amount not exceeding $2,000,000 at any one time
outstanding.

 

Section 6.03          Fundamental Changes. The Borrower will not, nor will it permit any of the Subsidiary Guarantors to, enter into any
transaction of merger or consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation or
dissolution). The Borrower will not, nor will it permit any of the Subsidiary Guarantors to, acquire any business or property from,
or capital stock of, or be a party to any acquisition of, any Person, except for purchases or acquisitions of Investments and other
assets in the normal course of the day-to-day business activities of the Borrower and its Subsidiaries and not in violation of
the terms and conditions of this Agreement or any other Loan Document. The Borrower will not, nor will it permit any of the Subsidiary
Guarantors to, convey, sell, lease, transfer or otherwise dispose of, in one transaction or a series of transactions, any part
of its assets, whether now owned or hereafter acquired, but excluding (x) assets (other than Investments) sold or disposed of in
the ordinary course of business (including to make expenditures of cash in the normal course of the day-to-day business activities
of the Borrower and its Subsidiaries) and (y) subject to the provisions of clauses (d) and (e) below, Investments.

 

Notwithstanding the
foregoing provisions of this Section:

 

(a)          any Subsidiary Guarantor of the Borrower may be merged or consolidated with or into the Borrower or any other Subsidiary
Guarantor; provided that if any such transaction shall be between a Subsidiary Guarantor and a wholly owned Subsidiary Guarantor,
the wholly owned Subsidiary Guarantor shall be the continuing or surviving corporation;

 

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(b)          any
Subsidiary Guarantor of the Borrower may sell, lease, transfer or otherwise dispose of any or all of its assets (upon voluntary
liquidation or otherwise) to the Borrower or any wholly owned Subsidiary Guarantor of the Borrower;

 

(c)          the capital stock of any Subsidiary of the Borrower may be sold, transferred or otherwise disposed of to the Borrower or
any wholly owned Subsidiary Guarantor of the Borrower;

 

(d)          the Obligors may sell, transfer or otherwise dispose of Investments (other than to a Financing Subsidiary) so long as after
giving effect to such sale, transfer or other disposition (and any concurrent acquisitions of Investments or payment of outstanding
Loans) the Covered Debt Amount does not exceed the Borrowing Base;

 

(e)          the Obligors may sell, transfer or otherwise dispose of Investments to a Financing Subsidiary so long as (i) after giving
effect to such sale, transfer or other disposition (and any concurrent acquisitions of Investments or payment of outstanding Loans)
the Covered Debt Amount does not exceed the Borrowing Base and the Borrower delivers to the Administrative Agent a certificate
of a Financial Officer to such effect and (ii) either (x) the amount by which the Borrowing Base exceeds the Covered Debt Amount
immediately prior to such release is not diminished as a result of such release or (y) the Borrowing Base immediately after giving
effect to such release is at least 110% of the Covered Debt Amount;

 

(f)           the Borrower may merge or consolidate with any other Person so long as (i) the Borrower is the continuing or surviving entity
in such transaction and (ii) at the time thereof and after giving effect thereto, no Default shall have occurred or be continuing;
and

 

(g)          the Borrower and each of the Subsidiary Guarantors may sell, lease, transfer or otherwise dispose of equipment or other
property or assets that do not consist of Investments so long as the aggregate amount of all such sales, leases, transfer and dispositions
does not exceed $5,000,000 in any fiscal year.

 

Section 6.04          Investments. The Borrower will not, nor will it permit any of the Subsidiary Guarantors to, acquire, make or enter
into, or hold, any Investments except:

 

(a)          operating deposit accounts with banks;

 

(b)          Investments by the Borrower and the Subsidiary Guarantors in the Borrower and the Subsidiary Guarantors;

 

(c)          Hedging Agreements entered into in the ordinary course of the Borrower’s financial planning and not for speculative
purposes;

 

(d)          Investments by the Borrower and its Subsidiaries to the extent such Investments are permitted under the Investment Company
Act and the Borrower’s Investment Policies as in effect as of the date such Investments are acquired;

 

(e)          Investments in Financing Subsidiaries so long as, (i) after giving effect to such Investment, the Covered Debt Amount does
not exceed the Borrowing Base and (ii) the sum of (x) all Investments under this clause (e) that occur after the Commitment
Termination Date and (y) all Investments under clause (f) below that occur after the Commitment Termination Date, shall
not exceed $5,000,000 in the aggregate;

 

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(f)           additional
Investments up to but not exceeding $15,000,000 in the aggregate; provided that the sum of (x) all Investments under this
clause (f) that occur after the Commitment Termination Date and (y) all Investments under clause (e) above
that occur after the Commitment Termination Date, shall not exceed $5,000,000 in the aggregate;

 

(g)          Investments in Cash and Cash Equivalents; and

 

(h)          Investments described on Schedule 3.12(b).

 

For purposes of clause (f)
of this Section, the aggregate amount of an Investment at any time shall be deemed to be equal to (A) the aggregate amount of cash,
together with the aggregate fair market value of property, loaned, advanced, contributed, transferred or otherwise invested that
gives rise to such Investment minus (B) the aggregate amount of dividends, distributions or other payments received in cash
in respect of such Investment; provided that in no event shall the aggregate amount of such Investment be deemed to be less
than zero; the amount of an Investment shall not in any event be reduced by reason of any write-off of such Investment nor increased
by any increase in the amount of earnings retained in the Person in which such Investment is made that have not been dividended,
distributed or otherwise paid out.

 

Section 6.05          Restricted Payments. The Borrower will not, nor will it permit any of the Subsidiary Guarantors to, declare or make,
or agree to pay or make, directly or indirectly, any Restricted Payment, except that the Borrower may declare and pay:

 

(a)          dividends with respect to the capital stock of the Borrower payable solely in additional shares of the Borrower’s
common stock;

 

(b)          dividends and distributions in either case in cash or other property (excluding for this purpose the Borrower’s common
stock) in any taxable year of the Borrower in amounts not to exceed the amount that is determined in good faith by the Borrower
to be required to (i) qualify and maintain the status of the Borrower as a RIC, and (ii) avoid federal excise Taxes for such
taxable year imposed by Section 4982 of the Code (the “Good Faith Tax Estimate”);

 

(c)          dividends and distributions in each case in cash or other property (excluding for this purpose the Borrower’s common
stock) in addition to the dividends and distributions permitted under the foregoing clauses (a) and (b), so long
as on the date of such Restricted Payment and after giving effect thereto:

 

(i)            no Default or Event of Default shall have occurred and be continuing or would result therefrom; and

 

(ii)           the aggregate amount of Restricted Payments made during any taxable year of the Borrower after the date hereof under this
clause (c) shall not exceed the difference of (x) an amount equal to 10% of the estimated taxable income of
the Borrower for such taxable year determined under section 852(b)(2) of the Code in good faith by the Borrower on the date such
Restricted Payment is declared, but without regard to subparagraphs (A), (B) or (D) thereof, minus
(y) the amount, if any, by which dividends and distributions made during such taxable year pursuant to the foregoing clause (b)
(whether in respect of such taxable year or the previous taxable year) exceeds the most recent Good Faith Tax Estimate provided
by the Borrower to the Administrative Agent pursuant to Section 5.01(c)(iv); and

 

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(d)          other
Restricted Payments so long as (i) on the date of such other Restricted Payment and after giving effect thereto (x) the
Covered Debt Amount does not exceed 90% of the Borrowing Base and (y) no Default shall have occurred and be continuing or
would result therefrom and (ii) on the date of such other Restricted Payment the Borrower delivers to the Administrative
Agent and each Lender a Borrowing Base Certificate as at such date demonstrating compliance with subclause (x) after
giving effect to such Restricted Payment; provided that the aggregate amount of Restricted Payments made during
any taxable year of the Borrower after the date hereof in accordance with clause (c)  above and this clause
(d) shall not exceed the difference of (A) an amount equal to 20% of the estimated taxable income of the Borrower
for such taxable year determined under section 852(b)(2) of the Code in good faith by the Borrower on the date such Restricted
Payment is declared, but without regard to subparagraphs (A), (B) or (D) thereof, minus (B) the
amount, if any, by which dividends and distributions made during such taxable year pursuant to clause (b) above
(whether in respect of such taxable year or the previous taxable year) exceeds the most recent Good Faith Tax Estimate provided
by the Borrower to the Administrative Agent pursuant to Section 5.01(c)(iv).

 

For purposes of preparing
any Borrowing Base Certificate pursuant to this Section, (A) the fair market value of Portfolio Investments for which market
quotations are readily available shall be the most recent quotation available for such Portfolio Investment and (B) the fair market
value of Portfolio Investments for which market quotations are not readily available shall be the Value set forth in the Borrowing
Base Certificate most recently delivered by the Borrower to the Administrative Agent and the Lenders pursuant to Section 5.01(d);
provided that, the Borrower shall reduce the Value of any Portfolio Investment referred to in this sub-clause (B)
to the extent necessary to take into account any events of which the Borrower has knowledge that adversely affect the value of
such Portfolio Investment.

 

Nothing herein shall
be deemed to prohibit the payment of Restricted Payments by any Subsidiary of the Borrower to the Borrower or to any other Subsidiary
Guarantor.

 

Section 6.06          Certain Restrictions on Subsidiaries. The Borrower will not permit any of its Subsidiaries (other than Financing
Subsidiaries) to enter into or suffer to exist any indenture, agreement, instrument or other arrangement (other than the Loan Documents)
that prohibits or restrains, in each case in any material respect, or imposes materially adverse conditions upon, the incurrence
or payment of Indebtedness, the declaration or payment of dividends, the making of loans, advances, guarantees or Investments or
the sale, assignment, transfer or other disposition of property to the Borrower by any Subsidiary; provided that the foregoing
shall not apply to (i) indentures, agreements, instruments or other arrangements pertaining to other Indebtedness permitted
hereby (provided that such restrictions would not adversely affect the exercise of rights or remedies of the Administrative Agent
or the Lenders hereunder or under the Security Documents or restrict any Subsidiary in any manner from performing its obligations
under the Loan Documents) and (ii) indentures, agreements, instruments or other arrangements pertaining to any lease, sale or other
disposition of any asset permitted by this Agreement or any Lien permitted by this Agreement on such asset so long as the applicable
restrictions only apply to the assets subject to such lease, sale, other disposition or Lien.

 

Section 6.07          Certain Financial Covenants.

 

(a)          Minimum Shareholders’ Equity. The Borrower will not permit Shareholders’ Equity at the last day of any
fiscal quarter of the Borrower to be less than $150,000,000 plus 25% of the net proceeds of the sale of Equity Interests
by the Borrower and its Subsidiaries after the Effective Date (other than proceeds of sales of Equity Interests by and among the
Borrower and its Subsidiaries).

 

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(b)          Asset
Coverage Ratio. The Borrower will not permit the Asset Coverage Ratio to be less than 1.67 : 1.00 as of the last day of Borrower’s
fiscal quarter ending September 30, 2020, and the last day of each fiscal quarter thereafter.

 

(c)          Liquidity Test. The Borrower will not at any time permit the sum of (i) the aggregate Value of the Portfolio Investments
that are Cash (excluding Cash Collateral for outstanding Letters of Credit) or that can be converted to Cash in fewer than 10 Business
Days without more than a 5% change in price, plus (ii) the total amount available to be borrowed by Borrower under Section
2.01(a), to be less than $10,000,000.

 

(d)          Interest Coverage Ratio. The Borrower will not permit the Interest Coverage Ratio to be less than 2.00 : 1.00 as
of the last day of Borrower’s fiscal quarter ending September 30, 2020, and the last day of each fiscal quarter thereafter.

 

Section 6.08          Transactions with Affiliates. The Borrower will not, and will not permit any of its Subsidiaries to, enter into any
transactions with any of its Affiliates, even if otherwise permitted under this Agreement, except (a) transactions in the ordinary
course of business at prices and on terms and conditions not less favorable to the Borrower or such Subsidiary (other than a SBIC
Subsidiary) than could be obtained on an arm’s-length basis from unrelated third parties, (b) transactions between or among
the Borrower and its Subsidiaries not involving any other Affiliate, (c) Restricted Payments permitted by Section 6.05,
(d) the transactions provided in the Affiliate Agreements, (e) transactions described on Schedule 6.08, (f)
any Investment otherwise permitted under this Agreement that results in the creation of an Affiliate or (g) transactions between
or among the Obligors and any SBIC Subsidiary or any “downstream affiliate” (as such term is used under the rules promulgated
under the Investment Company Act) company of an Obligor at prices and on terms and conditions not less favorable to the Obligors
than could be obtained at the time on an arm’s-length basis from unrelated third parties.

 

Section 6.09          Lines of Business. The Borrower will not, nor will it permit any of its Subsidiaries (other than Immaterial Subsidiaries)
to, engage to any material extent in any business other than in accordance with its Investment Policies. The Borrower will not,
nor will it permit any of its Subsidiaries to amend or modify the Investment Policies (other than a Permitted Policy Amendment).

 

Section 6.10          No Further Negative Pledge. The Borrower will not, and will not permit any of the Subsidiary Guarantors to, enter
into any agreement, instrument, deed or lease which prohibits or limits the ability of any Obligor to create, incur, assume or
suffer to exist any Lien upon any of its properties, assets or revenues, whether now owned or hereafter acquired, or which requires
the grant of any security for an obligation if security is granted for another obligation, except the following: (a) this Agreement,
the other Loan Documents and documents with respect to Indebtedness permitted under Section 6.01(b); (b) covenants
in documents creating Liens permitted by Section 6.02 prohibiting further Liens on the assets encumbered thereby;
(c) customary restrictions contained in leases not subject to a waiver; (d) any such agreement that imposes restrictions on investments
or other interests in Financing Subsidiaries (but no other assets of any Obligor); and (e) any other agreement that does not restrict
in any manner (directly or indirectly) Liens created pursuant to the Loan Documents on any Collateral securing the “Secured
Obligations” under and as defined in the Guarantee and Security Agreement and does not require the direct or indirect granting
of any Lien securing any Indebtedness or other obligation by virtue of the granting of Liens on or pledge of property of any Obligor
to secure the Loans or any Hedging Agreement.

 

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Section 6.11          Modifications of Unsecured Notes Due 2022 and Unsecured Longer-Term Indebtedness Documents. The Borrower will not
consent to any modification, supplement or waiver of:

 

(a)          any
of the provisions of any agreement, instrument or other document evidencing or relating to the Unsecured Notes Due 2022 (or a
Permitted Refinancing thereof), which would cause a Default or Event of Default after giving effect to such modification, supplement
or waiver;

 

(b)          any of the provisions of any agreement, instrument or other document evidencing or relating to any Unsecured Longer-Term
Indebtedness, which would cause a Default or Event of Default after giving effect to such modification, supplement or waiver; or

 

(c)          any of the Affiliate Agreements, unless such modification, supplement or waiver is not materially less favorable to the
Borrower than could be obtained on an arm’s-length basis from unrelated third parties, in each case, without the prior consent
of the Administrative Agent (with the approval of the Required Lenders).

 

Section 6.12          Payments of Unsecured Notes Due 2022, SBA Debentures, and Unsecured Longer-Term Indebtedness. The Borrower will not,
nor will it permit any of the Subsidiary Guarantors to, purchase, redeem, retire or otherwise acquire for value, or set apart any
money for a sinking, defeasance or other analogous fund for the purchase, redemption, retirement or other acquisition of or make
any voluntary payment or prepayment of the principal of or interest on, or any other amount owing in respect of, the Unsecured
Notes Due 2022, SBA Debentures or any Unsecured Longer Term Indebtedness (other than the refinancing of Unsecured Longer Term Indebtedness
with Indebtedness permitted under Section 6.01), except for (a) regularly scheduled payments, prepayments or redemptions
of principal and interest in respect thereof required pursuant to the instruments evidencing such Indebtedness (it being understood
that any cash payment made in respect of the repurchase of convertible notes at the option of the holder or the settlement in Cash
or stock or a combination thereof upon conversion of such notes shall constitute a “regularly scheduled payment, prepayment
or redemption of principal and interest” within the meaning of this clause (a)); (b) the consummation of a Permitted
Refinancing of the Unsecured Notes Due 2022 that is in compliance with this Agreement; and (c) so long as no Default or Event of
Default shall exist or be continuing, any payment that, if treated as a Restricted Payment for purposes of Section 6.05(d),
would be permitted to be made pursuant to the provisions set forth in Section 6.05(d).

 

Section 6.13          Accounting
Changes. The Borrower will not, nor will it permit any of its Subsidiaries to, make any change in (a) accounting policies
or reporting practices, except as permitted under GAAP or required by law or rule or regulation of any Governmental Authority,
or (b) its fiscal year.

 

Section 6.14          SBIC Guarantee. The Borrower will not, nor will it permit any of its Subsidiaries to, cause or permit the occurrence
of any event or condition that would result in any recourse to any Obligor under any Permitted SBIC Guarantee.

 

Section 6.15          Sanctions Laws and Regulations. The Borrower shall not, directly or indirectly, use the proceeds of the Loans, or
lend, contribute or otherwise make available such proceeds to any Subsidiary, joint venture partner or other person or entity (a)
to fund any activities or business of or with any Designated Person, or in any Sanctioned Country that would result in a violation
of any Sanctions Laws and Regulations by any party to this Agreement or (b) in any other manner that would result in a violation
of any Sanctions Laws and Regulations by any party to this Agreement. None of the funds or assets of the Borrower that are used
to pay any amount due pursuant to this Agreement shall constitute funds obtained from transactions with or relating to Designated
Persons or Sanctioned Countries in violation of any Sanctions Laws and Regulations.

 

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Article
VII

EVENTS OF DEFAULT

 

If any of the following
events (“Events of Default”) shall occur and be continuing:

 

(a)          the Borrower shall (i) fail to pay any principal of any Loan or any reimbursement obligation in respect of any LC Disbursement
when and as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or
otherwise (including, for the avoidance of doubt, any failure to pay any monthly installment of principal payable on any Scheduled
Payment Date and any failure to pay all principal on the Loans in full on the Final Maturity Date) or (ii) fail to deposit
any amount into the Letter of Credit Collateral Account as or when required under this Agreement;

 

(b)          the Borrower shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount referred to
in clause (a) of this Article) payable under this Agreement or under any other Loan Document, when and as the same
shall become due and payable, and such failure shall continue unremedied for a period of five or more Business Days;

 

(c)          any representation or warranty made or deemed made by or on behalf of the Borrower or any of its Subsidiaries in or in connection
with this Agreement or any other Loan Document or any amendment or modification hereof or thereof, or in any report, certificate,
financial statement or other document furnished pursuant to or in connection with this Agreement or any other Loan Document or
any amendment or modification hereof or thereof, shall prove to have been incorrect when made or deemed made in any material respect;

 

(d)          the Borrower shall fail to observe or perform any covenant, condition or agreement contained in (i) Section 5.03
(with respect to the Borrower’s existence) or Sections 5.08(a) and (b) or in Article VI
or any Obligor shall default in the performance of any of its obligations contained in Sections 3 and 7 of the Guarantee and Security
Agreement or (ii) Sections 5.01(e) and (f) or 5.02 and such failure in the case
of this clause (ii) shall continue unremedied for a period of five or more days after notice thereof by the Administrative
Agent (given at the request of any Lender) to the Borrower;

 

(e)          a Borrowing Base Deficiency shall occur and continue unremedied for a period of five or more Business Days after delivery
of a Borrowing Base Certificate demonstrating such Borrowing Base Deficiency pursuant to Section 5.01(e); provided
that it shall not be an Event of Default hereunder if the Borrower shall present the Administrative Agent with a reasonably feasible
plan acceptable to the Required Lenders in their sole discretion to enable such Borrowing Base Deficiency to be cured within 30
Business Days (which 30-Business Day period shall include the five Business Days permitted for delivery of such plan), so long
as such Borrowing Base Deficiency is cured within such 30-Business Day period;

 

(f)           the Borrower or any Obligor, as applicable, shall fail to observe or perform any covenant, condition or agreement contained
in this Agreement (other than those specified in clause (a), (b), (d), (e) or (s) of this
Article) or any other Loan Document and such failure shall continue unremedied for a period of 30 or more days after notice thereof
from the Administrative Agent (given at the request of any Lender) to the Borrower;

 

(g)          the Borrower or any of its Subsidiaries shall fail to make any payment (whether of principal or interest and regardless
of amount) in respect of any Material Indebtedness, when and as the same shall become due and payable, taking into account any
applicable grace period;

 

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(h)          any
event or condition occurs that results in any Material Indebtedness becoming due prior to its scheduled maturity or shall continue
unremedied for any applicable period of time sufficient to enable or permit the holder or holders of any Material Indebtedness
or any trustee or agent on its or their behalf to cause any Material Indebtedness to become due, or to require the prepayment,
repurchase, redemption or defeasance thereof, prior to its scheduled maturity, unless such event or condition is no longer continuing
or has been waived in accordance with the terms of such Material Indebtedness such that the holder or holders thereof or any trustee
or agent on its or their behalf may no longer cause such Material Indebtedness to become due, or to require the prepayment, repurchase,
redemption or defeasance thereof, prior to its scheduled maturity; provided that this clause (h) shall not
apply to (1) secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing
such Indebtedness; or (2) convertible debt that becomes due as a result of a conversion or redemption event, other than as a result
of an “event of default” (as defined in the documents governing such convertible Material Indebtedness);

 

(i)           an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation, reorganization
or other relief in respect of the Borrower or any of its Subsidiaries (other than Immaterial Subsidiaries) or its debts, or of
a substantial part of its assets, under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or
hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for
the Borrower or any of its Subsidiaries (other than Immaterial Subsidiaries) or for a substantial part of its assets, and, in any
such case, such proceeding or petition shall continue undismissed and unstayed for a period of 60 or more days or an order or decree
approving or ordering any of the foregoing shall be entered;

 

(j)           the Borrower or any of its Subsidiaries (other than Immaterial Subsidiaries) shall (i) voluntarily commence any proceeding
or file any petition seeking liquidation, reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency,
receivership or similar law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and
appropriate manner, any proceeding or petition described in clause (i) of this Article, (iii) apply for or consent
to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any of
its Subsidiaries (other than Immaterial Subsidiaries) or for a substantial part of its assets, (iv) file an answer admitting
the material allegations of a petition filed against it in any such proceeding, (v) make a general assignment for the benefit
of creditors or (vi) take any action for the purpose of effecting any of the foregoing;

 

(k)          the Borrower or any of its Subsidiaries (other than Immaterial Subsidiaries) shall become unable, admit in writing its inability
or fail generally to pay its debts as they become due;

 

(l)           one or more judgments for the payment of money in an aggregate amount in excess of $5,000,000 shall be rendered against
the Borrower or any of its Subsidiaries (other than Immaterial Subsidiaries) or any combination thereof and the same shall remain
undischarged for a period of 30 consecutive days during which execution shall not be effectively stayed, or any action shall be
legally taken by a judgment creditor to attach or levy upon any assets of the Borrower or any of its Subsidiaries (other than Immaterial
Subsidiaries) to enforce any such judgment;

 

(m)         an ERISA Event shall have occurred that, in the opinion of the Required Lenders, when taken together with all other ERISA
Events that have occurred, could reasonably be expected to result in a Material Adverse Effect;

 

(n)          a Change in Control shall occur;

 

(o)          the Borrower shall cease to be managed by the External Manager or an Affiliate thereof;

 

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(p)          if,
prior to the Final Maturity Date, any two principals of the External Manager (who initially will be Robert Ladd, Dean D’Angelo
and Joshua Davis), or any of their successors who have been approved by the Administrative Agent in its reasonable discretion
within ninety days, cease to be employed by the External Manager;

 

(q)          the Liens created by the Security Documents shall, at any time with respect to Portfolio Investments having an aggregate
Value in excess of 5% of the aggregate Value of all Portfolio Investments, not be valid and perfected (to the extent perfection
by filing, registration, recordation, possession or control is required herein or therein) in favor of the Administrative Agent,
free and clear of all other Liens (other than Liens permitted under Section 6.02 or under the respective Security
Documents) except to the extent that any such loss of perfection results from the failure of the Collateral Agent to maintain possession
of the certificates representing the securities pledged under the Loan Documents;

 

(r)           except for expiration in accordance with its terms, any of the Loan Documents shall for whatever reason be terminated or
cease to be in full force and effect in any material respect, or the enforceability thereof shall be contested by the Borrower
or any other Obligor;

 

(s)          the Obligors shall at any time, without the consent of the Required Lenders fail to comply with the covenant contained in
Section 5.11, and such failure shall continue unremedied for a period of 30 or more days after the earlier of
notice thereof by the Administrative Agent (given at the request of any Lender) to the Borrower or knowledge thereof by a Financial
Officer; or

 

(t)           the Borrower or any of its Subsidiaries shall cause or permit the occurrence of any condition or event that would result
in any recourse to any Obligor under any Permitted SBIC Guarantee;

 

then, and in every such event (other than
an event with respect to the Borrower described in clause (i) or (j) of this Article), and at any time thereafter
during the continuance of such event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice
to the Borrower, take either or both of the following actions, at the same or different times: (i) terminate the Commitments,
and thereupon the Commitments shall terminate immediately, and (ii) declare the Loans then outstanding to be due and payable in
whole (or in part, in which case any principal not so declared to be due and payable may thereafter be declared to be due and payable),
and thereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and all fees
and other obligations of the Borrower accrued hereunder and under the other Loan Documents, shall become due and payable immediately,
without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower; and in case of
any event with respect to the Borrower described in clause (i) or (j) of this Article, the Commitments shall
automatically terminate and the principal of the Loans then outstanding, together with accrued interest thereon and all fees and
other obligations of the Borrower accrued hereunder and under the other Loan Documents, shall automatically become due and payable,
without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower.

 

In the event that
the Loans shall be declared, or shall become, due and payable pursuant to the immediately preceding paragraph then, upon
notice from the Administrative Agent or Lenders with LC Exposure representing more than 50% of the total LC Exposure
demanding the deposit of Cash Collateral pursuant to this paragraph, the Borrower shall immediately deposit into the Letter
of Credit Collateral Account cash in an amount equal to the LC Exposure as of such date plus any accrued and unpaid
interest thereon; provided that the obligation to deposit such cash shall become effective immediately, and such
deposit shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any
Event of Default with respect to the Borrower described in clause (i) or (j) of this Article.

 

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Notwithstanding anything
to the contrary contained herein, on the CAM Exchange Date, to the extent not otherwise prohibited by law, (a) the Lenders shall
automatically and without further act be deemed to have exchanged interests in the Designated Obligations such that, in lieu of
the interests of each Lender in the Designated Obligations under each Loan in which it shall participate as of such date, such
Lender shall own an interest equal to such Lender’s CAM Percentage in the Designated Obligations under each of the Loans
and (b) simultaneously with the deemed exchange of interests pursuant to clause (a) above, the interests in the Designated
Obligations to be received in such deemed exchange shall, automatically and with no further action required, be converted into
the Dollar Equivalent of such amount (as of the Business Day immediately prior to the CAM Exchange Date) and on and after such
date all amounts accruing and owed to the Lenders in respect of such Designated Obligations shall accrue and be payable in Dollars
at the rate otherwise applicable hereunder. Each Lender, each Person acquiring a participation from any Lender as contemplated
by Section 9.04 and the Borrower hereby consents and agrees to the CAM Exchange. The Borrower and the Lenders
agree from time to time to execute and deliver to the Administrative Agent all such promissory notes and other instruments and
documents as the Administrative Agent shall reasonably request to evidence and confirm the respective interests and obligations
of the Lenders after giving effect to the CAM Exchange, and each Lender agrees to surrender any promissory notes originally received
by it in connection with its Loans hereunder to the Administrative Agent against delivery of any promissory notes so executed and
delivered; provided that the failure of the Borrower to execute or deliver or of any Lender to accept any such promissory note,
instrument or document shall not affect the validity or effectiveness of the CAM Exchange. As a result of the CAM Exchange, on
and after the CAM Exchange Date, each payment received by the Administrative Agent pursuant to any Loan Document in respect of
the Designated Obligations shall be distributed to the Lenders pro rata in accordance with their respective CAM Percentages (to
be redetermined as of each such date of payment).

 

Article
VIII

THE ADMINISTRATIVE AGENT

 

Section 8.01          Appointment
of the Administrative Agent. Each of the Lenders and the Issuing Bank hereby irrevocably appoints the Administrative Agent
as its agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its
behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with
such actions and powers as are reasonably incidental thereto. Each of the Lenders and the Issuing Bank hereby irrevocably appoints
the Collateral Agent as its agent hereunder and under the other Loan Documents and authorizes the Collateral Agent to take such
actions on its behalf and to exercise such powers as are delegated to the Collateral Agent by the terms hereof or thereof, together
with such actions and powers as are reasonably incidental thereto.

 

Section 8.02          Capacity as Lender. The Person serving as the Administrative Agent hereunder shall have the same rights and powers
in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent, and such
Person and its Affiliates may accept deposits from, lend money to and generally engage in any kind of business with the Borrower
or any Subsidiary or other Affiliate thereof as if it were not the Administrative Agent hereunder.

 

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Section 8.03          Limitation
of Duties; Exculpation. The Administrative Agent shall not have any duties or obligations except those expressly set
forth herein and in the other Loan Documents. Without limiting the generality of the foregoing, (a) the Administrative Agent
shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is
continuing, (b) the Administrative Agent shall not have any duty to take any discretionary action or exercise any
discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents
that the Administrative Agent is required to exercise in writing by the Required Lenders, and (c) except as expressly set
forth herein and in the other Loan Documents, the Administrative Agent shall not have any duty to disclose, and shall not be
liable for the failure to disclose, any information relating to the Borrower or any of its Subsidiaries that is communicated
to or obtained by the bank serving as Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent
shall not be liable for any action taken or not taken by it with the consent or at the request of the Required Lenders or in
the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge
of any Default unless and until written notice thereof is given to the Administrative Agent by the Borrower or a Lender, and
the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement,
warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any
certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the
performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein, (iv)
the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement,
instrument or document, or (v) the satisfaction of any condition set forth in Article IV or elsewhere
herein or therein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent.

 

Section 8.04          Reliance.
The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request,
certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet
website posting or other distribution) believed by it to be genuine and to have been signed or sent by the proper Person. The
Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to be made by the proper
Person, and shall not incur any liability for relying thereon. The Administrative Agent may consult with legal counsel (who may
be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action
taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

 

Section 8.05          Sub-Agents. The Administrative Agent may perform any and all its duties and exercise its rights and powers by or
through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform
any and all its duties and exercise its rights and powers through their respective Related Parties. The exculpatory provisions
of the preceding paragraphs shall apply to any such subagent and to the Related Parties of the Administrative Agent and any such
sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided
for herein as well as activities as Administrative Agent. The Administrative Agent shall not be responsible for the negligence
or misconduct of any sub-agents except to the extent that a count of competent jurisdiction determines in a final and non-appealable
judgment that the Administrative Agent acted with gross negligence or willful misconduct in the selection of such sub-agents.

 

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Section 8.06          Resignation;
Successor Administrative Agent. The Administrative Agent may resign at any time by notifying the Lenders, the Issuing
Bank and the Borrower. Upon any such resignation, the Required Lenders shall have the right, with the consent of the Borrower
not to be unreasonably withheld (or, if an Event of Default has occurred and is continuing in consultation with the
Borrower), to appoint a successor. If no successor shall have been so appointed by the Required Lenders and shall have
accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, then the
retiring Administrative Agent’s resignation shall nonetheless become effective and (1) the retiring Administrative
Agent shall be discharged from its duties and obligations hereunder and (2) the Required Lenders shall perform the duties of
the Administrative Agent (and all payments and communications provided to be made by, to or through the Administrative Agent
shall instead be made by or to each Lender directly) until such time as the Required Lenders appoint a successor agent as
provided for above in this paragraph. Upon the acceptance of its appointment as Administrative Agent hereunder by a
successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the
retiring (or retired) Administrative Agent and the retiring Administrative Agent shall be discharged from its duties and
obligations hereunder (if not already discharged therefrom as provided above in this paragraph). The fees payable by the
Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed
between the Borrower and such successor. After the Administrative Agent’s resignation hereunder, the provisions of this
Article and Section 9.03 shall continue in effect for its benefit in respect of any actions taken or
omitted to be taken by it while it was acting as Administrative Agent.

 

Any resignation by
Amegy Bank as Administrative Agent pursuant to this Section shall also constitute its resignation as Issuing Bank and Swingline
Lender. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, (a) such successor shall succeed
to and become vested with all of the rights, powers, privileges and duties of the retiring Issuing Bank and Swingline Lender, (b)
the retiring Issuing Bank and Swingline Lender shall be discharged from all of their respective duties and obligations hereunder
or under the other Loan Documents, and (c) the successor Issuing Bank shall issue letters of credit in substitution for the Letters
of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to the retiring Issuing Bank
to effectively assume the obligations of the retiring Issuing Bank with respect to such Letters of Credit.

 

Section 8.07          Reliance
by Lenders. Each Lender acknowledges that it has, independently and without reliance upon the 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 Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Administrative
Agent or any other Lender and based on such documents and information as it shall from time to time deem appropriate, continue
to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related
agreement or any document furnished hereunder or thereunder. The Administrative Agent shall have no duty or responsibility, either
initially or on a continuing basis, to make any such investigation or any such appraisal on behalf of Lenders or to provide any
Lender with any credit or other information with respect thereto, whether coming into its possession before the making of the
Loans or at any time or times thereafter, and the Administrative Agent shall have no responsibility with respect to the accuracy
of or the completeness of any information provided to Lenders.

 

Each Lender, by delivering
its signature page to this Agreement or any Assignment and Assumption and funding any Loan shall be deemed to have acknowledged
receipt of, and consented to and approved, each Loan Document and each other document required to be approved by the Administrative
Agent, Required Lenders or Lenders.

 

Section 8.08          Modifications
to Loan Documents. Except as otherwise provided in Section 9.02(b) or (c) of this
Agreement or the Security Documents with respect to this Agreement, the Administrative Agent may, with the prior consent of
the Required Lenders (but not otherwise), consent to any modification, supplement or waiver under any of the Loan Documents; provided
that, without the prior consent of each Lender, the Administrative Agent shall not (except as provided herein or in the
Security Documents) release all or substantially all of the Collateral or otherwise terminate all or substantially all of the
Liens under any Security Document providing for collateral security, or alter the relative priorities of the obligations
entitled to the benefits of the Liens created under the Security Documents with respect to all or substantially all of the
Collateral, except that no such consent shall be required, and the Administrative Agent is hereby authorized, to release any
Lien covering property that is the subject of either a disposition of property permitted hereunder or a disposition to which
the Required Lenders have consented.

 

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Article
IX

MISCELLANEOUS

 

Section 9.01          Notices;
Electronic Communications.

 

(a)          Notices Generally. Except in the case of notices and other communications expressly permitted to be given by telephone,
all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier
service, mailed by certified or registered mail or sent by telecopy or electronic mail, as follows:

 

(i)           if
to the Borrower, to it at:

 

Stellus Capital Investment Corporation

4400 Post Oak Parkway, Suite 2200

Houston, Texas 77027

Attention: W. Todd Huskinson

E-mail:  Thuskinson@stelluscapital.com

Vgarcia@stelluscapital.com

Telephone Number: (713) 292-5454

Telecopy Number: (713) 292-5414

 

(ii)          if to the Administrative Agent, Swingline Lender, or Issuing Bank to it at:

 

Amegy Bank

1717 West Loop South, 23rd Floor

Houston, Texas 77027

Attention: Lauren Page

E-mail: lauren.page@amegybank.com

Telephone Number: (713) 232-2217

 

with a copy to:

Porter Hedges LLP

1000 Main Street, Floor 36

Houston, Texas 77002

Attention: Joyce Soliman

E-mail: jsoliman@porterhedges.com

Telephone Number: (713) 226-6685

Telecopy Number: (713) 226-6285

 

(iii)         if to any other Lender, to it at its address (or telecopy number or e-mail address) set forth in its Administrative Questionnaire.

 

Any party hereto may
change its address or telecopy number for notices and other communications hereunder by notice to the other parties hereto. All
notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed
to have been given on the date of receipt. Notices delivered through electronic communications to the extent provided in paragraph (b)
below, shall be effective as provided in said paragraph (b).

 

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(b)         Electronic Communications. Notices and other communications to the Lenders and the Issuing Bank hereunder may be
delivered or furnished by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures
approved by the Administrative Agent; provided that the foregoing shall not apply to notices to any Lender or the Issuing
Bank pursuant to Section 2.06 if such Lender or the Issuing Bank, as applicable, has notified the Administrative
Agent that it is incapable of receiving notices under such Article by electronic communication. The Administrative Agent or the
Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications
pursuant to procedures approved by it; provided that approval of such procedures may be limited to particular notices or
communications.

 

(i)            Notices
and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement
from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other
written acknowledgement); provided that if such notice or other communication is not sent during the normal business hours
of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next Business
Day for the recipient, and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon
the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i)
of notification that such notice or communication is available and identifying the website address therefor.

 

Each party hereto understands
that the distribution of material through an electronic medium is not necessarily secure and that there are confidentiality and
other risks associated with such distribution and agrees and assumes the risks associated with such electronic distribution, except
to the extent caused by the willful misconduct or gross negligence of Administrative Agent, any Lender or their respective Related
Parties, as determined by a final, non-appealable judgment of a court of competent jurisdiction. The Platform and any electronic
communications media approved by the Administrative Agent as provided herein are provided “as is” and “as available”.
None of the Administrative Agent or its Related Parties warrant the accuracy, adequacy, or completeness of the such media or the
Platform and each expressly disclaims liability for errors or omissions in the Platform and such media. No warranty of any kind,
express, implied or statutory, including any warranty of merchantability, fitness for a particular purpose, non-infringement of
third party rights or freedom from viruses or other code defects is made by the Administrative Agent and any of its Related Parties
in connection with the Platform or the electronic communications media approved by the Administrative Agent as provided for herein.

 

(c)          Private
Side Information Contacts. Each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender
to at all times have selected the “Private Side Information” or similar designation on the content declaration screen
of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance
procedures and applicable law, including United States federal and state securities laws, to make reference to information that
is not made available through the “Public Side Information” portion of the Platform and that may contain Non-Public
Information with respect to the Borrower, its Subsidiaries or their Securities for purposes of United States federal or state
securities laws. In the event that any Public Lender has determined for itself to not access any information disclosed through
the Platform or otherwise, such Public Lender acknowledges that (i) other Lenders may have availed themselves of such information
and (ii) neither Borrower nor Administrative Agent has any responsibility for such Public Lender’s decision to limit the
scope of the information it has obtained in connection with this Agreement and the other Loan Documents.

 

(d)          Documents
to be Delivered under Sections 5.01 and 5.12(a). For so long as an DebtX, IntralinksTM or equivalent website is available
to each of the Lenders hereunder, the Borrower may satisfy its obligation to deliver documents to the Administrative Agent or
the Lenders under Sections 5.01 and 5.12(a) by delivering one hard copy thereof to the
Administrative Agent and either an electronic copy or a notice identifying the website where such information is located for
posting by the Administrative Agent on DebtX, IntralinksTM, or such equivalent website; provided that the
Administrative Agent shall have no responsibility to maintain access to DebtX, IntralinksTM, or an equivalent website.

 

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Section 9.02           
Waivers; Amendments.

 

(a)               
No Deemed Waivers Remedies Cumulative. No failure or delay by the Administrative Agent the Issuing Bank, the Swingline
Lender or any Lender in exercising any right or power hereunder shall operate as a waiver thereof nor shall any single or partial
exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any
other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent,
the Issuing Bank, the Swingline Lender and the Lenders hereunder are cumulative and are not exclusive of any rights or remedies
that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by the Borrower therefrom
shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section, and then such
waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality
of the foregoing, the making of a Loan, Swingline Loan or issuance of a Letter of Credit shall not be construed as a waiver of
any Default, regardless of whether the Administrative Agent, the Swingline Lender, any Lender or the Issuing Bank may have had
notice or knowledge of such Default at the time.

 

(b)               
Amendments to this Agreement. Neither this Agreement nor any provision hereof may be waived, amended or modified
except pursuant to an agreement or agreements in writing entered into by the Borrower and the Required Lenders or by the Borrower
and the Administrative Agent with the consent of the Required Lenders; provided that no such agreement shall:

 

(i)                
increase the Commitment of any Lender without the written consent of such Lender,

 

(ii)              
reduce the principal amount of any Loan or LC Disbursement or reduce the rate of interest thereon, or reduce any fees payable
hereunder, without the written consent of each Lender affected thereby (provided that (x) any waiver of the applicability of default
rate interest under Section 2.2(c) and (y) any change to the financial covenants, the financial covenant levels in
the Applicable Margin, or the defined terms used in the financial covenants, in each case, shall not constitute a reduction of
the payment of principal or interest (or the rate of interest) for purposes of this clause (ii)),

 

(iii)            
postpone the scheduled date of payment of the principal amount of any Loan or LC Disbursement, or any interest thereon,
or any fees payable hereunder, or reduce the amount of waive or excuse any such payment, or postpone the scheduled date of expiration
of any Commitment, without the written consent of each Lender affected thereby,

 

(iv)             
change Section 2.17(b), (c) or (d) in a manner that would alter the pro rata
sharing of payments required thereby without the written consent of each Lender affected thereby, or

 

(v)                change
any of the provisions of this Section or the definition of the term “Required Lenders” or any other provisions in
the Loan Documents specifying the number or percentage of Lenders required to waive, amend or modify any rights in the Loan
Documents or make any determination or grant any consent hereunder, without the written consent of each Lender affected
thereby;

 

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provided further that (x) no such
agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent, the Issuing Bank the Swingline
Lender, or any Multicurrency Lender hereunder without the prior written consent of the Administrative Agent, the Issuing Bank,
the Swingline Lender, or any Multicurrency Lender, as the case may be, (y) the consent of Lenders holding not less than two-thirds
of the Revolving Credit Exposure and unused Commitments will be required (A) for any adverse change affecting the provisions of
this Agreement relating to the determination of the Borrowing Base (excluding changes to the provisions of Section 5.12(b)(ii)(E)
and (F), but including changes to the provisions of Section 5.12(c)(ii) and the definitions set
forth in Section 5.13), and (B) for any release of any material portion of the Collateral other than for fair
value or as otherwise permitted hereunder or under the other Loan Documents, and (z) the Fee Letter may be amended, or rights
or privileges thereunder waived, in a written agreement executed only by the parties thereto.

 

Anything in this Agreement
to the contrary notwithstanding, no waiver or modification of any provision of this Agreement or any other Loan Document that could
reasonably be expected to adversely affect the Lenders of any Class in a manner that does not affect all Classes equally shall
be effective against the Lenders of such Class unless the Required Lenders of such Class shall have concurred with such waiver
or modification. Notwithstanding the foregoing, amendments or modifications to this Agreement to implement the Benchmark Replacement
may be approved and executed in accordance with Section 2.21 hereof.

 

(c)               
Amendments to Security Documents. No Security Document nor any provision thereof may be waived, amended or modified,
nor may the Liens thereof be spread to secure any additional obligations (including any increase in Loans hereunder, but excluding
any such increase pursuant to a Commitment Increase under Section 2.08(e)) except pursuant to an agreement or
agreements in writing entered into by the Borrower, and by the Collateral Agent with the consent of the Required Lenders; provided
that, (i) without the written consent of each Lender, no such agreement shall release all or substantially all of the Obligors
from their respective obligations under the Security Documents and (ii) without the written consent of each Lender, no such agreement
shall release all or substantially all of the collateral security or otherwise terminate all or substantially all of the Liens
under the Security Documents, alter the relative priorities of the obligations entitled to the Liens created under the Security
Documents (except in connection with securing additional obligations equally and ratably with the Loans and other obligations hereunder)
with respect to all or substantially all of the collateral security provided thereby, or release all or substantially all of the
guarantors under the Guarantee and Security Agreement from their guarantee obligations thereunder, except that no such consent
shall be required, and the Administrative Agent is hereby authorized (and so agrees with the Borrower) to direct the Collateral
Agent under the Guarantee and Security Agreement, to release any Lien covering property (and to release any such guarantor) that
is the subject of either a disposition of property permitted hereunder or a disposition to which the Required Lenders have consented.

 

(d)               
Replacement of Non-Consenting Lender. If, in connection with any proposed change, waiver, discharge or termination
to any of the provisions of this Agreement as contemplated by this Section 9.02, the consent of the Required
Lenders shall have been obtained but the consent of one or more Lenders (each a “Non-Consenting Lender”)
whose consent is required for such proposed change, waiver, discharge or termination is not obtained, then (so long as no Event
of Default has occurred and is continuing) the Borrower shall have the right, at its sole cost and expense, to replace each such
Non-Consenting Lender or Lenders with one or more replacement Lenders pursuant to Section 2.18(b) so long as
at the time of such replacement, each such replacement Lender consents to the proposed change, waiver, discharge or termination.

 

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(e)               
 Amendment and Restatement.It is the intention and agreement of the parties hereto that this Agreement amends
and restates, supersedes and replaces the 2017 Credit Agreement in its entirety, effective on the date hereof. This Agreement shall
not constitute a novation or a refinancing of the 2017 Credit Agreement, but shall constitute an amendment and restatement of the
2017 Credit Agreement.

 

Section 9.03           
Expenses; Indemnity; Damage Waiver.

 

(a)               
Costs and Expenses. The Borrower shall pay (i) all reasonable out-of-pocket costs and expenses incurred by the Administrative
Agent, the Collateral Agent and their Affiliates, including the reasonable fees, charges and disbursements of counsel for the Administrative
Agent and the Collateral Agent, in connection with the syndication of the credit facilities provided for herein, the preparation
and administration of this Agreement and the other Loan Documents and any amendments, modifications or waivers of the provisions
hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket
expenses incurred by the Issuing Bank in connection with the issuance, amendment, renewal or extension of any Letter of Credit
or any demand for payment thereunder, (iii) all documented out-of-pocket expenses incurred by the Administrative Agent, the Issuing
Bank, the Swingline Lender or any Lender, including the reasonable fees, charges and disbursements of one outside counsel and one
local counsel in each applicable jurisdiction for the Administrative Agent, the Issuing Bank and the Swingline Lender as well as
one outside counsel for the Lenders and additional counsel should any conflict of interest arise, in connection with the enforcement
or protection of its rights in connection with this Agreement and the other Loan Documents, including its rights under this Section,
or in connection with the Loans made or Letters of Credit issued hereunder, including all such documented out-of-pocket expenses
incurred during any workout, restructuring or negotiations in respect thereof, and (iv) and all documented costs, expenses, assessments
and other charges incurred in connection with any filing, registration, recording or perfection of any security interest contemplated
by any Security Document or any other document referred to therein. For the avoidance of doubt, this Section 9.03(a)
shall not apply to Taxes, the payment of which is governed by Section 2.16.

 

(b)                Indemnification
by the Borrower. The Borrower shall indemnify the Administrative Agent, the Issuing Bank, the Swingline Lender and each
Lender, and each Related Party of any of the foregoing Persons (each such Person being called an
 “Indemnitee”) against, and hold each Indemnitee harmless from, any and all reasonable losses,
claims, damages, liabilities, actions, judgments, suits, costs, expenses and disbursements of any kind or nature whatsoever
(including the reasonable out-of-pocket fees and disbursements of one outside counsel for all Indemnitees (and, if reasonably
necessary, of one local counsel in any relevant jurisdiction for all Indemnitees) unless, in the reasonable opinion of an
Indemnitee, representation of all Indemnitees by such counsel would be inappropriate due to the existence of an actual or
potential conflict of interest) in connection with any investigative, administrative or judicial proceeding or hearing
commenced or threatened by any Person, whether or not any such Indemnitee shall be designated as a party or a potential party
thereto, and any fees or expenses incurred by Indemnitees in enforcing this indemnity), whether based on any federal, state
or foreign laws, statutes, rules or regulations (including securities and commercial laws, statutes, rules or regulations and
laws, statutes, rules or regulations relating to environmental, occupational safety and health or land use matters), on
common law or equitable cause or on contract or otherwise and related expenses or disbursements of any kind (other than Taxes
which shall only be indemnified by the Borrower to the extent provided in Section 2.16), including the
fees, charges and disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out
of, in connection with, or as a result of (i) the execution or delivery of this Agreement or any agreement or instrument
contemplated hereby, the performance by the parties hereto of their respective obligations hereunder or the consummation of
the Transactions or any other transactions contemplated hereby, (ii) any Loan, Swingline Loan or Letter of Credit or the use
of the proceeds therefrom (including any refusal by the Issuing Bank to honor a demand for payment under a Letter of Credit
if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit) or
(iii) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether
based on contract, tort or any other theory and whether brought by the Borrower or a third party and regardless of whether
any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the
extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction
by final and nonappealable judgment to have resulted from the fraud, willful misconduct or gross negligence of such
Indemnitee. For the avoidance of doubt, this Section 9.03(b) shall not apply to Taxes, the payment of which is
governed by Section 2.16.

 

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The Borrower shall
not be liable to any Indemnitee for any special, indirect, consequential or punitive damages arising out of, in connection with,
or as a result of the Transactions asserted by an Indemnitee against the Borrower or any other Obligor; provided that the
foregoing limitation shall not be deemed to impair or affect the Obligations of the Borrower under the preceding provisions of
this subsection.

 

(c)               
Reimbursement by Lenders. To the extent that the Borrower fails to pay any amount required to be paid by it to the
Administrative Agent, the Issuing Bank or the Swingline Lender under paragraph (a) or (b) of this Section, each
Lender severally agrees to pay to the Administrative Agent, the Issuing Bank or the Swingline Lender, as the case may be, such
Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is
sought) of such unpaid amount; provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related
expense, as the case may be, was incurred by or asserted against the Administrative Agent, the Issuing Bank or the Swingline Lender
in its capacity as such.

 

(d)               
Waiver of Consequential Damages, Etc. To the extent permitted by applicable law, the Borrower shall not assert, and
hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages
(as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement or any agreement
or instrument contemplated hereby, the Transactions, any Loan or Letter of Credit or the use of the proceeds thereof. No Indemnitee
shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed
by it through telecommunications, electronic or other information transmission systems in connection with this Agreement or the
other Loan Documents or the transactions contemplated hereby or thereby, except to the extent caused by the fraud, willful misconduct
or gross negligence of such Indemnitee, as determined by a final, non-appealable judgment of a court of competent jurisdiction.

 

(e)               
Payments. All amounts due under this Section shall be payable promptly after written demand therefor.

 

Section 9.04           
Successors and Assigns.

 

(a)                Assignments
Generally. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and
their respective successors and assigns permitted hereby (including any Affiliate of the Issuing Bank that issues any Letter
of Credit), except that (i) the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder
without the prior written consent of each Lender (and any attempted assignment or transfer by the Borrower without such
consent shall be null and void) and (ii) no Lender may assign or otherwise transfer its rights or obligations hereunder
except in accordance with this Section. Nothing in this Agreement, expressed or implied, shall be construed to confer upon
any Person (other than the parties hereto, their respective successors and assigns permitted hereby (including any Affiliate
of the Issuing Bank that issues any Letter of Credit) and, to the extent expressly contemplated hereby, the Related Parties
of each of the Administrative Agent, the Issuing Bank and the Lenders) any legal or equitable right, remedy or claim under or
by reason of this Agreement.

 

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(b)               
Assignments by Lenders.

 

(i)                
Assignments Generally. Subject to the conditions set forth in clause (ii) below, any Lender may assign
to one or more assignees (other than natural persons, any Defaulting Lender or any Person listed in the Prohibited Assignees and
Participants Side Letter) all or a portion of its rights and obligations under this Agreement (including all or a portion of its
Commitments and the Loans and LC Exposure at the time owing to it) with the prior written consent (such consent not to be unreasonably
withheld or delayed) of:

 

(A)             
the Borrower; provided that no consent of the Borrower shall be required for an assignment to a Lender, an Affiliate
of a Lender, or, if an Event of Default has occurred and is continuing, any other assignee; provided, further, that
the Borrower shall be deemed to have consented to any such assignment unless it shall have objected thereto by written notice to
the Administrative Agent within five Business Days after having received notice thereof; and

 

(B)             
the Administrative Agent and the Issuing Bank.

 

(ii)              
Certain Conditions to Assignments. Assignments shall be subject to the following additional conditions:

 

(A)             
except in the case of an Assignment to a Lender or an Affiliate of a Lender or an assignment of the entire remaining amount
of the assigning Lender’s Commitment or Loans and LC Exposure, the amount of the Commitment or Loans and LC Exposure of the
assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such
Assignment is delivered to the Administrative Agent) shall not be less than U.S. $5,000,000 unless each of the Borrower and the
Administrative Agent otherwise consent; provided that no such consent of the Borrower shall be required if an Event of Default
has occurred and is continuing;

 

(B)             
each partial assignment of any Class of Commitments or Loans and LC Exposure shall be made as an assignment of a proportionate
part of all the assigning Lender’s rights and obligations under this Agreement in respect of such Class of Commitments, Loans
and LC Exposure;

 

(C)             
the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption in substantially
the form of Exhibit A hereto, together with a processing and recordation fee of U.S. $3,500 (which fee shall
not be payable in connection with an assignment to a Lender or to an Affiliate of a Lender and for which the Borrower and the Subsidiary
Guarantors shall not be obligated to pay); and

 

(D)             
the assignee, if it shall not already be a Lender of the applicable Class, shall deliver to the Administrative Agent an
Administrative Questionnaire.

 

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(iii)             Effectiveness
of Assignments. Subject to acceptance and recording thereof pursuant to paragraph (c) of this Section, from
and after the effective date specified in each Assignment and Assumption the assignee thereunder shall be a party hereto and,
to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under
this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and
Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering
all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto
but shall continue to be entitled to the benefits of Sections 2.14, 2.15, 2.16 and 9.03 with
respect to facts and circumstances occurring prior to the effective date of such assignment). Any assignment or transfer by a
Lender of rights or obligations under this Agreement that does not comply with this Section 9.04 shall be
treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in
accordance with paragraph (e) of this Section. Notwithstanding anything to the contrary herein, in connection
with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective
unless and until, in addition to the other conditions set forth in Section 9.04(b)(ii) or otherwise, the
parties to the assignment shall make such additional payments to Administrative Agent in an aggregate amount sufficient, upon
distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or
subparticipations, or other compensating actions, including funding, with the consent of Borrower and Administrative Agent,
the Applicable Percentage of Loans previously requested but not funded by the Defaulting Lender, to each of which the
applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then
owed by such Defaulting Lender to Administrative Agent, Issuing Bank, Swingline Lender and each Lender hereunder (and
interest accrued thereon), and (y) acquire (and fund as appropriate) its full Applicable Percentage of all Loans and
participations in Letters of Credit and Swingline Loans. Notwithstanding the foregoing, in the event that any assignment of
rights and obligations of any Defaulting Lender hereunder shall become effective under applicable law without compliance with
the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all
purposes of this Agreement until such compliance occurs.

 

(c)               
Maintenance of Registers by Administrative Agent. The Administrative Agent, acting for this purpose as an agent of
the Borrower, shall maintain at one of its offices in New York City a copy of each Assignment and Assumption delivered to it and
a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amount (and stated
interest) of the Loans and LC Disbursements owing to, each Lender pursuant to the terms hereof from time to time (the “Registers”
and each individually, a “Register”). The entries in the Registers shall be conclusive absent manifest
error, and the Borrower, the Administrative Agent, the Issuing Bank and the Lenders may treat each Person whose name is recorded
in the Registers pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice
to the contrary. The Registers shall be available for inspection by the Borrower, the Issuing Bank and any Lender, at any reasonable
time and from time to time upon reasonable prior notice.

 

(d)               
Acceptance of Assignments by Administrative Agent. Upon its receipt of a duly completed Assignment and Assumption
executed by an assigning Lender and an assignee, the assignee’s completed Administrative Questionnaire (unless the assignee
shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b) of this Section
and any written consent to such assignment required by paragraph (b) of this Section, the Administrative Agent shall
accept such Assignment and Assumption and record the information contained therein in the Register. No assignment shall be effective
for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph.

 

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(e)               
 Special Purposes Vehicles. Notwithstanding anything to the contrary contained herein, any Lender (a “Granting
Lender”) may grant to a special purpose funding vehicle (an “SPC”) owned or administered
by such Granting Lender, identified as such in writing from time to time by the Granting Lender to the Administrative Agent and
the Borrower, the option to provide all or any part of any Loan that such Granting Lender would otherwise be obligated to make;
provided that (i) nothing herein shall constitute a commitment to make any Loan by any SPC, (ii) if an SPC elects not to
exercise such option or otherwise fails to provide all or any part of such Loan, the Granting Lender shall, subject to the terms
of this Agreement, make such Loan pursuant to the terms hereof, (iii) the rights of any such SPC shall be derivative of the rights
of the Granting Lender, and such SPC shall be subject to all of the restrictions upon the Granting Lender herein contained, and
(iv) no SPC shall be entitled to the benefits of Sections 2.14 (or any other increased costs protection provision),
2.15 or 2.16. Each SPC shall be conclusively presumed to have made arrangements with its Granting Lender
for the exercise of voting and other rights hereunder in a manner which is acceptable to the SPC, the Administrative Agent, the
Lenders and the Borrower, and each of the Administrative Agent, the Lenders and the Obligors shall be entitled to rely upon and
deal solely with the Granting Lender with respect to Loans made by or through its SPC. The making of a Loan by an SPC hereunder
shall utilize the Commitment of the Granting Lender to the same extent, and as if, such Loan were made by the Granting Lender.

 

Each party hereto hereby
agrees (which agreement shall survive the termination of this Agreement) that, prior to the date that is one year and one day after
the payment in full of all outstanding senior indebtedness of any SPC, it will not institute against, or join any other person
in instituting against, such SPC, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or similar
proceedings under the laws of the United States or any State thereof, in respect of claims arising out of this Agreement; provided
that the Granting Lender for each SPC hereby agrees to indemnify, save and hold harmless each other party hereto for any loss,
cost, damage and expense arising out of their inability to institute any such proceeding against its SPC. In addition, notwithstanding
anything to the contrary contained in this Section, any SPC may (i) without the prior written consent of the Borrower and the Administrative
Agent and without paying any processing fee therefor, assign all or a portion of its interests in any Loans to its Granting Lender
or to any financial institutions providing liquidity and/or credit facilities to or for the account of such SPC to fund the Loans
made by such SPC or to support the securities (if any) issued by such SPC to fund such Loans (but nothing contained herein shall
be construed in derogation of the obligation of the Granting Lender to make Loans hereunder); provided that neither the
consent of the SPC or of any such assignee shall be required for amendments or waivers hereunder except for those amendments or
waivers for which the consent of participants is required under paragraph (1) below, and (ii) disclose on a confidential
basis (in the same manner described in Section 9.13(b)) any non-public information relating to its Loans to
any rating agency, commercial paper dealer or provider of a surety, guarantee or credit or liquidity enhancement to such SPC.

 

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(f)                 Participations.
Any Lender may, with the consent of the Borrower (such consent not to be unreasonably withheld or delayed), sell
participations to one or more banks or other entities (a “Participant”) in all or a portion of such
Lender’s rights and obligations under this Agreement and the other Loan Documents (including all or a portion of its
Commitments and the Loans and LC Disbursements owing to it); provided that (i) the consent of the Borrower shall not
be required if such Participant does not have the right to receive any non-public information that may be provided pursuant
to this Agreement (and the Lender selling such participation agrees with the Borrower at the time of the sale of such
participation that it will not deliver such non-public information to the Participant), (ii) such Lender’s obligations
under this Agreement and the other Loan Documents shall remain unchanged, (iii) such Lender shall remain solely responsible
to the other parties hereto for the performance of such obligations, (iv) the Borrower, the Administrative Agent, the Issuing
Bank and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s
rights and obligations under this Agreement and the other Loan Documents and (v) no Person listed in the Prohibited Assignees
and Participants Side Letter may be a Participant. Any agreement or instrument pursuant to which a Lender sells such a
participation shall provide that such Lender shall retain the sole right to enforce this Agreement and the other Loan
Documents and to approve any amendment, modification or waiver of any provision of this Agreement or any other Loan Document; provided
that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any
amendment, modification or waiver described in the first proviso to Section 9.02(b) that affects such
Participant. Subject to paragraph (g) of this Section, the Borrower agrees that each Participant shall be
entitled to the benefits of Sections 2.14, 2.15 and 2.16 to the same extent as if
it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section; provided
that such Participant shall not be entitled to receive any greater payment under Sections 2.14, 2.15
or 2.16, with respect to any participation, than its participating Lenders would have been entitled to receive,
except to the extent such entitlement to receive a greater payment results from a Change in Law that occurs after the
Participant acquired the applicable participation; provided, further, that no Participant shall be entitled to
the benefits of Section 2.16 unless the Borrower is notified of the participation granted to such
Participant and such Participant shall have complied with the requirements of Section 2.16 as if such
Participant is a Lender. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.08
as though it were a Lender; provided such Participant agrees to be subject to Section 2.17(d) as though it
were a Lender hereunder. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary
agent of the Borrower, maintain a register on which it enters the name and address of each participant and the principal
amounts (and stated interest of each Participant’s interest in the loans or other obligations under the Loan Documents
(the “Participant Register”); provided that no Lender shall have any obligation to disclose all or
any portion of the Participant Register (including the identity of any Participant or any other information relating to a
Participant’s interest in any commitments, loans, letters of credit or is other obligations under any Loan Document) to
any person except to the extent that such disclosures are necessary to establish that such commitment, loan, letter of credit
or other obligation is in registered form under applicable United States Treasury Regulations. The entries in the Participant
Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the
Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the
contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no
responsibility for maintaining a Participant Register.

 

(g)               
Limitations on Rights of Participants. A Participant shall not be entitled to receive any greater payment under Section 2.14,
2.15 or 2.16 than the applicable Lender would have been entitled to receive with respect to the participation
sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s prior written
consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 2.16
unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the
Borrower, to comply with paragraphs (e) and (f) of Section 2.16 as though it were a Lender and
in the case of a Participant claiming exemption for portfolio interest under Section 871(h) or 881(c) of the Code, the applicable
Lender shall provide the Borrower with satisfactory evidence that the participation is in registered form and shall permit the
Borrower to review such register as reasonably needed for the Borrower to comply with its obligations under applicable laws and
regulations.

 

(h)               
Certain Pledges. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights
under this Agreement to secure obligations of such Lender, including any such pledge or assignment to a Federal Reserve Bank or
any other central bank having jurisdiction over such Lender, and this Section shall not apply to any such pledge or assignment
of a security interest; provided that no such pledge or assignment of a security interest shall release a Lender from any
of its obligations hereunder or substitute any such assignee for such Lender as a party hereto.

 

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(i)                
 No Assignments to the Borrower or Affiliates. Anything in this Section to the contrary notwithstanding, no Lender
may assign or participate any interest in any Loan or LC Exposure held by it hereunder to the Borrower or any of its Affiliates
or Subsidiaries without the prior consent of each Lender.

 

Section 9.05           
Survival. All covenants, agreements, representations and warranties made by the Borrower herein and in the certificates
or other instruments delivered in connection with or pursuant to this Agreement shall be considered to have been relied upon by
the other parties hereto and shall survive the execution and delivery of this Agreement and the making of any Loans and issuance
of any Letters of Credit, regardless of any investigation made by any such other party or on its behalf and notwithstanding that
the Administrative Agent, the Issuing Bank or any Lender may have had notice or knowledge of any Default or incorrect representation
or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal
of or any accrued interest on any Loan or any fee or any other amount payable under this Agreement is outstanding and unpaid or
any Letter of Credit is outstanding and so long as the Commitments have not expired or terminated. The provisions of Sections 2.14,
2.15, 2.16 and 9.03 and Article VIII shall survive and remain in full
force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the expiration
or termination, Cash Collateralization or backstop of the Letters of Credit and the Commitments or the termination of this Agreement
or any provision hereof.

 

Section 9.06           
Counterparts; Integration; Effectiveness; Electronic Execution.

 

(a)               
Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties
hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute
a single contract. This Agreement and any separate letter agreements with respect to fees payable to the Administrative Agent constitute
the entire contract between and among the parties relating to the subject matter hereof and supersede any and all previous agreements
and understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 4.01,
this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative
Agent shall have received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto,
and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.
Delivery of an executed counterpart of a signature page to this Agreement by telecopy electronically (e.g. pdf) shall be effective
as delivery of a manually executed counterpart of this Agreement.

 

(b)               
Electronic Execution of Assignments. The words “execution,” “signed,” “signature,”
and words of like import in any Assignment and Assumption shall be deemed to include electronic signatures or the keeping of records
in electronic form, each of which shall be of the same legal effect validity or enforceability as a manually executed signature
or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law,
including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records
Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

 

Section 9.07           
Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall,
as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the
validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a particular
jurisdiction shall not invalidate such provision in any other jurisdiction.

 

Section 9.08            Right
of Setoff. If an Event of Default shall have occurred and be continuing, each Lender and each of its Affiliates is hereby
authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all
deposits (general or special, time or demand, provisional or final) at any time held and other obligations at any time owing
by such Lender or Affiliate to or for the credit or the account of the Borrower against any of and all the obligations of the
Borrower now or hereafter existing under this Agreement held by such Lender, irrespective of whether or not such Lender shall
have made any demand under this Agreement and although such obligations may be unmatured; provided that in the event
that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately
to Administrative Agent for further application in accordance with the provisions of Sections 2.17(d) and,
pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the
benefit of Administrative Agent, the Issuing Bank, and the Lenders, and (y) the Defaulting Lender shall provide promptly to
Administrative Agent a statement describing in reasonable detail the amounts owing to such Defaulting Lender hereunder as to
which it exercised such right of setoff. The rights of each Lender under this Section are in addition to other rights and
remedies (including other rights of setoff) which such Lender may have. Each Lender agrees to notify the Borrower and the
Administrative Agent promptly after any such setoff and application; provided that the failure to give such notice
shall not affect the validity of such setoff and application.

 

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Section 9.09           
Governing Law; Jurisdiction; Etc.

 

(a)               
Governing Law. This Agreement shall be construed in accordance with and governed by the law of the State of New York.

 

(b)               
Submission to Jurisdiction. The Borrower hereby irrevocably and unconditionally submits, for itself and its property,
to the exclusive jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States
District Court of the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising
out of or relating to this Agreement and any Loan Document, or for recognition or enforcement of any judgment, and each of the
parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be
heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto
agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by
suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that the Administrative
Agent, the Issuing Bank or any Lender may otherwise have to bring any action or proceeding relating to this Agreement against the
Borrower or its properties in the courts of any jurisdiction.

 

(c)               
Waiver of Venue. The Borrower hereby irrevocably and unconditionally waives, to the fullest extent it may legally
and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding
arising out of or relating to this Agreement in any court referred to in paragraph (b) of this Section. Each of the
parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance
of such action or proceeding in any such court.

 

(d)               
Service of Process. Each party to this Agreement (i) irrevocably consents to service of process in the manner provided
for notices in Section 9.01 and (ii) agrees that service as provided in the manner provided for notices in Section 9.01
is sufficient to confer personal jurisdiction over such party in any proceeding in any court and otherwise constitutes effective
and binding service in every respect. Nothing in this Agreement will affect the right of any party to this Agreement to serve process
in any other manner permitted by law.

 

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Section 9.10           
WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT
MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY LOAN
DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A)
CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER
PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES
HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

Section 9.11           
Judgment Currency. This is an international loan transaction in which the specification of Dollars or any Foreign
Currency, as the case may be (the “Specified Currency”), and payment in New York City or the country
of the Specified Currency, as the case may be (the “Specified Place”), is of the essence, and the Specified
Currency shall be the currency of account in all events relating to Loans denominated in the Specified Currency. The payment obligations
of the Borrower under this Agreement shall not be discharged or satisfied by an amount paid in another currency or in another place,
whether pursuant to a judgment or otherwise, to the extent that the amount so paid on conversion to the Specified Currency and
transfer to the Specified Place under normal banking procedures does not yield the amount of the Specified Currency at the Specified
Place due hereunder. If for the purpose of obtaining judgment in any court it is necessary to convert a sum due hereunder in the
Specified Currency into another currency (the “Second Currency”), the rate of exchange that shall be
applied shall be the rate at which in accordance with normal banking procedures the Administrative Agent could purchase the Specified
Currency with the Second Currency on the Business Day next preceding the day on which such judgment is rendered. The obligation
of the Borrower in respect of any such sum due from it to the Administrative Agent or any Lender hereunder or under any other Loan
Document (in this Section called an “Entitled Person”) shall, notwithstanding the rate of exchange actually
applied in rendering such judgment be discharged only to the extent that on the Business Day following receipt by such Entitled
Person of any sum adjudged to be due hereunder in the Second Currency such Entitled Person may in accordance with normal banking
procedures purchase and transfer to the Specified Place the Specified Currency with the amount of the Second Currency so adjudged
to be due; and the Borrower hereby, as a separate obligation and notwithstanding any such judgment, agrees to indemnify such Entitled
Person against, and to pay such Entitled Person on demand, in the Specified Currency. The amount (if any) by which the sum originally
due to such Entitled Person in the Specified Currency hereunder exceeds the amount of the Specified Currency so purchased and transferred.

 

Section 9.12           
Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference only,
are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement.

 

Section 9.13           
Treatment of Certain Information; No Fiduciary Duty; Confidentiality.

 

    102

     

    

 

(a)                Treatment
of Certain Information. The Borrower acknowledges that from time to time financial advisory, investment banking and other
services may be offered or provided to the Borrower or one or more of its Subsidiaries (in connection with this Agreement or
otherwise) by any Lender or by one or more subsidiaries or affiliates of such Lender and the Borrower hereby authorizes each
Lender to share any information delivered to such Lender by the Borrower and its Subsidiaries pursuant to this Agreement, or
in connection with the decision of such Lender to enter into this Agreement, to any such subsidiary or affiliate, it being
understood that any such subsidiary or affiliate receiving such information shall be bound by the provisions of paragraph (b) of
this Section as if it were a Lender hereunder. Such authorization shall survive the repayment of the Loans, the expiration or
termination of the Letters of Credit and the Commitments or the termination of this Agreement or any provision hereof. Each
Lender shall use all information delivered to such Lender by the Borrower and its Subsidiaries pursuant to this Agreement, or
in connection with the decision of such Lender to enter into this Agreement, in connection with providing services to the
Borrower. The Administrative Agent, each Lender and their Affiliates (collectively, solely for purposes of this paragraph,
the “Lenders”), may have economic interests that conflict with those of the Borrower or any of its
Subsidiaries, their stockholders and/or their affiliates. The Borrower, on behalf of itself and each of its Subsidiaries,
agrees that nothing in the Loan Documents or otherwise will be deemed to create an advisory, fiduciary or agency relationship
or fiduciary or other implied duty between any Lender, on the one hand, and the Borrower or any of its Subsidiaries, its
stockholders or its affiliates, on the other. The Borrower and each of its Subsidiaries each acknowledge and agree that (i)
the transactions contemplated by the Loan Documents (including the exercise of rights and remedies hereunder and thereunder)
are arm’s-length commercial transactions between the Lenders, on the one hand, and the Borrower and its Subsidiaries,
on the other, and (ii) in connection therewith and with the process leading thereto, (x) no Lender has assumed an advisory or
fiduciary responsibility in favor of the Borrower or any of its Subsidiaries, any of their stockholders or affiliates with
respect to the transactions contemplated hereby (or the exercise of rights or remedies with respect thereto) or the process
leading thereto (irrespective of whether any Lender has advised, is currently advising or will advise the Borrower or any of
its Subsidiaries, their stockholders or their affiliates on other matters) or any other obligation to the Borrower or any of
its Subsidiaries except the obligations expressly set forth in the Loan Documents and (y) each Lender is acting solely as
principal and not as the agent or fiduciary of the Borrower or any of its Subsidiaries, their management, stockholders,
creditors or any other Person. The Borrower and each of its Subsidiaries each acknowledge and agree that it has consulted its
own legal and financial advisors to the extent it deemed appropriate and that it is responsible for making its own
independent judgment with respect to such transactions and the process leading thereto. The Borrower and each of its
Subsidiaries each agree that it will not claim that any Lender has rendered advisory services of any nature or respect, or
owes a fiduciary or similar duty to the Borrower or any of its Subsidiaries, in connection with such transaction or the
process leading thereto.

 

(b)               
Confidentiality. Each of the Administrative Agent, the Lenders, the Swingline Lender and the Issuing Bank agrees
to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (i) to its Affiliates
and to its and its Affiliates’ respective partners, directors, officers, employees, agents, advisors and other representatives
(it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information
and instructed to keep such Information confidential), (ii) to the extent requested by any regulatory authority purporting
to have jurisdiction over it (including any self-regulatory authority), (iii) to the extent required by applicable laws or regulations
or by any subpoena or similar legal process, (iv) to any other party hereto, (v) in connection with the exercise of any remedies
hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or
the enforcement of rights hereunder or thereunder, (vi) subject to an agreement containing provisions substantially the same as
those of this Section, to (x) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights
or obligations under this Agreement or (y) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction
relating to the Borrower and its obligations, (vii) with the consent of the Borrower, (viii) to the extent such Information (x)
becomes publicly available other than as a result of a breach of this Section or (y) becomes available to the Administrative Agent,
any Lender, the Issuing Bank or any of their respective Affiliates on a nonconfidential basis from a source other than the Borrower
or (ix) on a confidential basis to (x) any rating agency in connection with rating the Borrower or its Subsidiaries or the credit
facilities provided hereunder or (y) the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring
of CUSIP numbers with respect to the credit facilities provided hereunder.

 

    103

     

    

 

For purposes of this
Section, “Information” means all information received from the Borrower or any of its Subsidiaries relating
to the Borrower or any of its Subsidiaries or any of their respective businesses, other than any such information that is available
to the Administrative Agent any Lender or the Issuing Bank on a non-confidential basis prior to disclosure by the Borrower or any
of its Subsidiaries; provided that, in the case of Information received from the Borrower or any of its Subsidiaries after
the date hereof, such Information is clearly identified at the time of delivery as confidential. Any Person required to maintain
the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so
if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord
to its own confidential information.

 

Section 9.14           
USA PATRIOT Act. Each Lender hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act
(Title III of Pub. L. 107-56 (signed into law October 26, 2001)), it is required to obtain, verify and record information that
identifies the Borrower and each other Obligor, which information includes the name and address of the Borrower and each other
Obligor and other information that will allow such Lender to identify the Borrower and each other Obligor in accordance with said
Act.

 

[Signatures appear on following pages.]

 

    104

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be duly executed by their respective authorized officers as of the day and year
first above written.

 

	 	BORROWER:
	 	 	 
	 	STELLUS CAPITAL INVESTMENT CORPORATION
	 	 	 
	 	By:	/s/ W. Todd Huskinson
	 	 	W. Todd Huskinson
	 	 	Chief Financial Officer, Chief Compliance Officer, Treasurer, and Secretary

 

Signature Page to Amended and Restated Senior Secured Revolving Credit Agreement

 

    	 	 	 

     

    

 

	 	ADMINISTRATIVE AGENT:
	 	 	 
	 	ZIONS BANCORPORATION, N.A. dba Amegy Bank,

                    as Administrative Agent

	 	 
	 	By:	/s/ Lauren Page
	 	 	Lauren Page
	 	 	Vice President

 

Signature Page to Amended and Restated Senior Secured Revolving Credit Agreement

 

    	 	 	 

     

    

 

	 	LENDERS:
	 	 	 
	 	ZIONS BANCORPORATION, N.A. dba Amegy Bank,

                    as a Lender, as Swingline Lender, and
                    as LC Issuer

	 	 
	 	By:	/s/ Lauren Page
	 	 	Lauren Page
	 	 	Vice President

 

Signature Page to Amended and Restated Senior Secured Revolving Credit Agreement

 

    	 	 	 

     

    

 

	 	FROST BANK,

                    as a Lender

	 	 
	 	By:	/s/ Jake Fitzpatrick
	 	Name:	Jake Fitzpatrick
	 	Title:	Vice President

 

Signature Page to Amended and Restated Senior Secured Revolving Credit Agreement FROST BANK, as a Lender By: Name: Title:

 

    	 	 	 

     

    

 

	 	CADENCE BANK, N.A.,

                    as a Lender

	 	 
	 	By:	/s/ Tim Ashe
	 	Name:	Tim Ashe
	 	Title:	Vice President

 

Signature Page to Amended and Restated Senior Secured Revolving Credit Agreement

 

    	 	 	 

     

    

 

	 	HANCOCK WHITNEY BANK,

                    as a Lender

	 	 
	 	By:	/s/ Eric Luttrell
	 	Name:	Eric Luttrell
	 	Title:	SVP

 

Signature Page to Amended and Restated Senior Secured Revolving Credit Agreement

 

    	 	 	 

     

    

 

	 	CITY NATIONAL BANK, a national banking association,

                    as a Lender

	 	 
	 	By:	/s/ Marc D. Galindo
	 	Name:	Marc D. Galindo
	 	Title:	Senior Vice President

 

Signature Page to Amended and Restated Senior Secured Revolving Credit Agreement

 

    	 	 	 

     

    

 

	 	COMMUNITYBANK OF TEXAS, N.A.,

                    as a Lender

	 	 
	 	By:	/s/
    Stephen L. Jukes                       
	 	Name:	Stephen L. Jukes
	 	Title:	EVP

 

Signature Page to Amended and Restated Senior Secured Revolving Credit Agreement

 

    	 	 	 

     

    

 

	 	WOODFOREST NATIONAL BANK,

                    as a Lender

	 	 
	 	By:	/s/ Andy Gaines
	 	Name:	Andy Gaines
	 	Title:	Senior Vice President

 

Signature Page to Amended and Restated Senior Secured Revolving Credit Agreement

 

    	 	 	 

     

    

 

	 	BANCORPSOUTH BANK,

                    as a Lender

	 	 
	 	By:	/s/
    Jacob McGee                    
	 	Name:	Jacob McGee
	 	Title:	Director

 

Signature Page to Amended and Restated Senior Secured Revolving Credit Agreement

 

    	 	 	 

     

    

 

	 	TEXAS CAPITAL BANK,

                    as a Lender

	 	 
	 	By:	/s/ Eva Pawelek
	 	Name:	Eva Pawelek
	 	Title:	Senior Vice President

 

Signature Page to Amended and Restated Senior Secured Revolving Credit Agreement

 

    	 	 	 

     

    

 

	 	BOKF, NA dba BANK OF TEXAS,

                    as a Lender

	 	 
	 	By:	/s/ Fernando Sanchez
	 	Name:	Fernando Sanchez
	 	Title:	Assistant Vice President

 

Signature Page to Amended and Restated Senior Secured Revolving Credit Agreement

 

    	 	 	 

     

    

 

SCHEDULE

 

    	 	 	 

    

 

 

 

SCHEDULE 1.01(a)

 

Approved Dealers and Approved Pricing
Services

 

Approved Dealers

 

None

 

Approved Pricing Services

 

Barclays Capital Indices

J.P. Morgan Credit Indices

Bloomberg

Markit

 

Schedules to Amended and Restated Senior Secured Revolving Credit Agreement

 

     

     

    

 

SCHEDULE 1.01(b)

 

Commitments

 

 

	Lender	Commitment ($)	Applicable Percentage
	Zions Bancorporation, N.A. dba Amegy Bank	35,000,000.00	15.2173913043%
	Frost Bank	35,000,000.00	15.2173913043%
	Cadence Bank, N.A	30,000,000.00	13.0434782609%
	Hancock Whitney Bank	30,000,000.00	13.0434782609%
	City National Bank	25,000,000.00	10.8695652174%
	CommunityBank of Texas, N.A.	20,000,000.00	8.6956521739%
	Woodforest National Bank	20,000,000.00	8.6956521739%
	BancorpSouth Bank	15,000,000.00	6.5217391304%
	Texas Capital Bank, National Association	10,000,000.00	4.3478260870%
	BOKF, NA dba Bank of Texas	10,000,000.00	4.3478260870%
	Total:	$230,000,000.00	100.0000000000%

 

Schedules to Amended and Restated Senior Secured Revolving Credit Agreement

 

     

     

    

 

SCHEDULE 1.01(c)

 

Industry Classification Group List

 

Aerospace & Defense

Automotive

Banking

Beverage, Food, & Tobacco

Capital Equipment

Chemicals, Plastics, & Rubber

Construction & Building

Consumer goods: durable

Consumer goods: non-durable

Containers, Packaging, & Glass

Education

Energy: Electricity

Energy: Oil & Gas

Environmental Industries

FIRE: Finance

FIRE: Insurance

FIRE: Real Estate

Forest Products & Paper

Healthcare & Pharmaceuticals

High Tech Industries

Hotel, Gaming, & Leisure

Media: Advertising, Printing & Publishing

Media: Broadcasting & Subscription

Media: Diversified & Production

Metals & Mining

Retail

Services: Business

Services: Consumer

Services: Government

Software

Sovereign & Public Finance

Telecommunications

Transportation: Cargo

Transportation: Consumer

Transportation & Logistics

Utilities: Electric

Utilities: Oil & Gas

Utilities: Water

Wholesale

 

Schedules to Amended and Restated Senior Secured Revolving Credit Agreement

 

     

     

    

 

SCHEDULE 3.11

 

Material Agreements and Liens

 

		A.	Material Agreements

 

		1.	Indenture between the Borrower and U.S. Bank National Association, dated May 5, 2014.

 

		2.	First Supplemental Indenture between the Borrower and U.S. Bank National Association, dated May
5, 2014, and the global notes issued thereunder. Indebtedness outstanding: None.

 

		3.	Second Supplemental Indenture between the Borrower and U.S. Bank National Association, dated August
21, 2017, and the global notes issued thereunder. Indebtedness outstanding: $48,875,000 in aggregate principal amount of the Borrower’s
5.75% Notes due 2022.

 

		4.	As applicable, the agreements listed on Schedule 6.08.

 

		5.	SBA debentures issued by Stellus Capital SBIC, LP of which $150 million in aggregate principal
amount is outstanding.

 

		6.	SBA debentures issued by Stellus Capital SBIC II, LP of which $11 million in aggregate principal
amount is outstanding.

 

		7.	Promissory note issued by SCIC – Consolidated Blocker, Inc. to the Borrower on July 1, 2019
providing for loans and advances up to $2,650,000 in aggregate principal amount. Indebtedness outstanding: $2,650,000.

 

		8.	Promissory note issued by SCIC – Consolidated Blocker, Inc. to the Borrower on December 23,
2019 providing for loans and advances up to $2,000,000 in aggregate principal amount. Indebtedness outstanding: $2,000,000.

 

		9.	Promissory note issued by SCIC – Consolidated Blocker, Inc. to the Borrower on December 26,
2019 providing for loans and advances up to $2,000,000 in aggregate principal amount. Indebtedness outstanding: $2,000,000.

 

		10.	Custody Agreement between the Borrower and Zions Bancorporation N.A. dba Amegy Bank, dated as of
November 1, 2017.

 

		11.	This Agreement and the other Loan Documents.

 

 

 

		B.	Liens

 

 

	1.	Liens under any of the agreements listed in Part A to this Schedule 3.11.

 

Schedules to Amended and Restated Senior Secured Revolving Credit Agreement

 

     

     

    

 

SCHEDULE 3.12(a)

 

Subsidiaries

 

	1.	SCIC - APE Blocker 1, Inc.
	2.	SCIC - CC Blocker 1, Inc.
	3.	SCIC - Consolidated Blocker, Inc.
	4.	SCIC - ERC Blocker 1, Inc.
	5.	SCIC - FBO Blocker 1, Inc.
	6.	SCIC - Hollander Blocker 1, Inc.
	7.	SCIC - ICD Blocker 1, Inc.
	8.	SCIC - Invincible Blocker 1, Inc.
	9.	SCIC - SKP Blocker 1, Inc.
	10.	SCIC - Venbrook Blocker, Inc.
	11.	Stellus Capital SBIC, LP
	12.	Stellus Capital SBIC II, LP
	13.	Stellus Capital SBIC GP, LLC
	14.	Stellus Capital SBIC II GP, LLC

 

Schedules to Amended and Restated Senior Secured Revolving Credit Agreement

 

     

     

    

 

SCHEDULE 3.12(b)

 

Investments

 

	1.	The Borrower’s accounts with Zions Bancorporation N.A. dba Amegy Bank.

 

	2.	The Borrower’s equity and debt Investments in Stellus Capital SBIC, LP, Stellus Capital SBIC
GP, LLC, Stellus Capital SBIC II, LP, and Stellus Capital SBIC II GP, LLC.

 

	3.	Promissory note issued by SCIC – Consolidated Blocker, Inc. to the Borrower on July 1, 2019
providing for loans and advances up to $2,650,000 in aggregate principal amount. Indebtedness outstanding: $2,650,000.

 

	4.	Promissory note issued by SCIC – Consolidated Blocker, Inc. to the Borrower on December 23,
2019 providing for loans and advances up to $2,000,000 in aggregate principal amount. Indebtedness outstanding: $2,000,000.

 

	5.	Promissory note issued by SCIC – Consolidated Blocker, Inc. to the Borrower on December 26,
2019 providing for loans and advances up to $2,000,000 in aggregate principal amount. Indebtedness outstanding: $2,000,000.

 

Schedules to Amended and Restated Senior Secured Revolving Credit Agreement

 

     

     

    

 

SCHEDULE 6.08

 

Transactions with Affiliates

 

		1.	Investment Advisory Agreement between the Borrower and Stellus Capital
Management, L.L.C.

 

		2.	License Agreement between the Borrower and Stellus Capital Management, L.L.C.

 

		3.	Administration Agreement between the Borrower and Stellus Capital
Management, L.L.C.

 

Schedules to Amended and Restated Senior Secured Revolving Credit Agreement

 

     

     

    

 

EXHIBIT A

 

[Form of Assignment and Assumption]

 

ASSIGNMENT AND ASSUMPTION

 

This Assignment and
Assumption (the “Assignment and Assumption”) is dated as of the Effective Date set forth below and is
entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name of
Assignee] (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings
given to them in the Credit Agreement identified below (as amended, 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 I attached hereto are hereby agreed to and incorporated herein by reference
and made a part of this Assignment and Assumption as if set forth herein in full.

 

For an agreed consideration,
the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes from
the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective
Date inserted by the Administrative Agent as contemplated below: (i) all of the Assignor’s rights and obligations in its
capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent
related to the amount and percentage interest identified below of all of such outstanding rights and obligations of the Assignor
under the respective facilities identified below (including any letters of credit, guarantees, 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 Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in
connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed
thereby or in any way based on or related to any of the foregoing, including contract claims, tort claims, malpractice claims,
statutory claims and all claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause
(i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred
to herein collectively as the “Assigned Interest”). Such sale and assignment is without recourse to the
Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by the Assignor.

 

	1.	Assignor:	 
	 
	2.	Assignee:	 
	 	 	[and is an Affiliate of [Identify Lender]1
	 
	3.	Borrower:	Stellus Capital Investment Corporation
	 
	4.	Administrative Agent:	Zions Bancorporation, N.A. dba Amegy Bank, as the administrative agent under the Credit Agreement.
	 
	5.	Credit Agreement:	Amended and Restated Senior Secured Revolving Credit Agreement dated as of September 18, 2020, among the Borrower, the Lenders
parties thereto, and the Administrative Agent.
	 
	6.	Assigned Interest:	 

 

 

1 Select as applicable.

 

    A-1

     

    

 

	Class Assigned2	Aggregate Amount of 

Commitment/Loans 

for all Lenders	Amount of 

Commitment/Loans 

Assigned	
        Percentage Assigned

        of

        Commitment/Loans3

         

	 	$	$	%
	 	$	$	%
	 	$	$	%

 

 

Effective Date: ________________, 202__
[TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]

 

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

 

	 	ASSIGNOR
	 	 
	 	[NAME OF ASSIGNOR]
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 
	 	ASSIGNEE
	 	 
	 	[NAME OF ASSIGNEE]
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

 

2 Fill in the appropriate terminology for the types
of facilities under the Credit Agreement that are being assigned under this Assignment (e.g. “Dollar Commitment”,
 “Multicurrency Commitment”, etc.). 

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

 

    A-2

     

    

 

	[Consented to and]4
    Accepted:	 
	 	 
	ZIONS BANCORPORATION, N.A.
    dba AMEGY BANK,
 as Administrative Agent	 
	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 
	 	 
	ZIONS BANCORPORATION, N.A.
    dba AMEGY BANK,
 as Issuing Bank	 
	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 
	 	 
	[Consented to:]5	 
	 	 
	STELLUS CAPITAL INVESTMENT
    CORPORATION	 
	 	 
	By:	 	 
	Name:	 	 
	Title:	                                 	 

 

 

4 To be
added only if the consent of the Administrative Agent is required by the terms of the Credit Agreement.

5 To be
added only when the consent of the Borrower is required by the terms of the Credit Agreement.

 

    A-3

     

    

 

ANNEX 1

 

STANDARD TERMS AND CONDITIONS FOR

ASSIGNMENT AND ASSUMPTION

 

1.       Representative
and Warranties.

 

1.1       Assignor.
The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the Assigned Interest, (ii) the Assigned
Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken
all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby;
and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with
the Credit Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency
or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of the Borrower, any of its Subsidiaries
or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by the Borrower,
any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations under any Loan Document.

 

1.2       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 Assumption and to consummate the transactions contemplated hereby and to become a Lender under
the Credit Agreement, (ii) it satisfies the requirements, if any, specified in the Credit Agreement that are required to be satisfied
by it in order to acquire the Assigned Interest and become a Lender, (iii) from and after the Effective Date, it shall be bound
by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations
of a Lender thereunder, (iv) it has received a copy of the Credit Agreement, together with copies of the most recent financial
statements delivered pursuant to Section 5.01 thereof, as applicable, and such other documents and information as it has deemed
appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned
Interest on the basis of which it has made such analysis and decision independently and without reliance on the Administrative
Agent or any other Lender, and (v) if it is a Foreign Lender, attached to the Assignment and Assumption is any documentation required
to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and (b) agrees
that (i) it will, independently and without reliance on the Administrative Agent, the Assignor or any other Lender, and based on
such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or
not taking action under the Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations which
by the terms of the Loan Documents are required to be performed by it as a Lender.

 

2.       Payments.
From and after the Effective Date, the Administrative Agent shall make all payments in respect of the Assigned Interest (including
payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued up to but excluding the
Effective Date and to the Assignee for amounts which have accrued from and after the Effective Date.

 

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

 

    A-4

     

    

 

EXHIBIT B

 

[Form of Borrowing Base Certificate]

 

BORROWING BASE CERTIFICATE

 

Monthly accounting period ended ___________,
202__

 

Reference is made to
that certain Amended and Restated Senior Secured Revolving Credit Agreement, dated as of September 18, 2020 (as amended, restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among Stellus Capital
Investment Corporation, a Maryland corporation (the “Borrower”), the financial institutions party thereto
as Lenders, and Zions Bancorporation, N.A. dba Amegy Bank, as the Administrative Agent. Capitalized terms used herein without definition
are so used as defined in the Credit Agreement.

 

Pursuant to Section
5.01(d) of the Credit Agreement, the undersigned, the ________ of the Borrower, and as such a Financial Officer of the Borrower,
hereby certifies, represents and warrants on behalf of the Borrower that (a) attached hereto as Annex 1 is (i) a
complete and correct list as of the end of the monthly accounting period ended ____________, 202__ of all Portfolio Investments
included in the Collateral and (ii) a true and correct calculation of the Borrowing Base as of the end of such monthly accounting
period determined in accordance with the requirements of the Credit Agreement, and (b) without limiting the generality of the foregoing,
all Portfolio Investments included in the calculation of the Borrowing Base herein have been Delivered (as defined in the Guarantee
and Security Agreement) to the Collateral Agent.

 

IN WITNESS WHEREOF,
the undersigned has caused this certificate to be duly executed as of the _____ day of _______________, 202__.

 

 

	 	STELLUS CAPITAL INVESTMENT CORPORATION
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    B-1

     

    

 

EXHIBIT C

 

[Form of Borrowing Request]

 

BORROWING REQUEST

 

Date: ________________, _____

 

To: Zions Bancorporation,
N.A. dba Amegy Bank, as Administrative Agent

 

Ladies and Gentlemen:

 

Reference is made to
that certain Amended and Restated Senior Secured Revolving Credit Agreement, dated as of September 18, 2020 (as amended, restated,
extended, supplemented or otherwise modified in writing from time to time, the “Credit Agreement”), among
Stellus Capital Investment Corporation, a Maryland corporation (the “Borrower”), the financial institutions
party thereto as Lenders, and Zions Bancorporation, N.A. dba Amegy Bank, as the Administrative Agent. Capitalized terms used herein
without definition are so used as defined in the Credit Agreement.

 

The Borrower hereby
requests a Borrowing of Loans:

 

1.       On
____ (a Business Day).

 

2.       In
the amount of ___________.

 

3.Comprised of ____________________________________.

                                                    [Type of Borrowing requested]

 

4.       In
the following currency: [USD] or [CAD].

 

5.       For
Eurocurrency Borrowings: with an Interest Period of ____ months.

 

		6.	To Borrower’s account number _______________located at __________ __________.

 

 

	 	STELLUS CAPITAL INVESTMENT CORPORATION
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	                         

 

    C-1Exhibit 10.1

   

  

  

    

    

    SELLING INVESTOR SUPPORT AGREEMENT

    

    

    SELLING INVESTOR SUPPORT AGREEMENT (hereinafter referred to as this “Agreement”), dated as of [●], among Illumina, Inc., a Delaware corporation (“Parent”) and each of the undersigned stockholders (the “Selling

        Investors”) of GRAIL, Inc., a Delaware corporation (the “Company”), set forth on Schedule 1(b) hereto.

    

    

    WHEREAS, the Company, Parent, SDG Ops, Inc., a Delaware corporation and wholly owned subsidiary of Parent (“First Merger Sub”), and SDG Ops, LLC, a Delaware limited liability company and wholly owned subsidiary of
      Parent (“Second Merger Sub”), have entered into an Agreement and Plan of Merger dated as of September 20, 2020 (as it may be amended from time to time, the “Merger Agreement”), which provides for, among other things, the merger of First
      Merger Sub with and into the Company, with the Company continuing as the surviving corporation (the “Surviving Corporation”) (the “First Merger”), and immediately following the First Merger and as part of the same overall transaction as
      the First Merger, the Surviving Corporation will merge with and into Second Merger Sub, with Second Merger Sub being the surviving company of the Second Merger (the “Second Merger” and, together with the First Merger, the “Mergers”),
      and pursuant to which all shares of Company Stock issued and outstanding immediately prior to the Effective Time (other than as provided in Section 2.04(c) of the Merger Agreement and Appraisal Shares) will be converted into the right to receive the
      Merger Consideration;

    

    

    WHEREAS, each Selling Investor Beneficially Owns and is entitled to vote (or direct the voting of) the number of shares of Company Stock set forth opposite such Selling Investor’s name on Schedule 1(b) attached hereto;
      and

    

    

    WHEREAS, Parent desires that the Selling Investors agree, and the Selling Investors are willing to agree, on the terms and subject to the conditions set forth herein, (i) to not Transfer (as defined below) the Covered
      Shares (as defined below), and (ii) to vote or consent with respect to all of the Covered Shares in a manner so as to facilitate the consummation of the Mergers and the other Transactions.

    

    

    NOW, THEREFORE, in consideration of the premises, and of the representations, warranties, covenants and agreements contained herein, and intending to be legally bound hereby, the parties hereto agree as follows:

    

    

    1.         Certain Definitions.  Capitalized terms used but not defined herein shall have the respective meanings ascribed to them in the Merger Agreement.  For all
      purposes of and under this Agreement, the following terms shall have the following respective meanings:

    

    

    (a)          “Beneficially Own” means, with respect to any securities, (i) having “beneficial ownership” of such securities for purposes of Rule 13d-3 or 13d-5 under the
      Exchange Act (or any successor statute or regulation) or (ii) having the right to become the Beneficial Owner of such securities (whether such right is exercisable immediately or only after the passage of time or the occurrence of conditions)
      pursuant to any agreement, arrangement or understanding, or upon the exercise of conversion rights, exchange rights, rights, warrants or options, or otherwise.

    

    

    
      
        

    

    
    

    

    (b)          “Covered Shares” means, with respect to any Selling Investor, (i) all shares of Company Stock set forth opposite such Selling Investor’s name on Schedule 1(b)
      attached hereto, and (ii) all shares of Company Stock that such Selling Investor comes to Beneficially Own during the period from the date of this Agreement through the Expiration Date, together with any voting securities or instruments of the
      Company, or other securities or interests exercisable for or convertible into shares of Company Stock or voting securities or instruments of the Company, that such Selling Investor comes to Beneficially Own during the period from the date of this
      Agreement through the Expiration Date (including by way of bonus issue, share dividend or distribution, subdivision, reclassification, recapitalization, consolidation, exchange, readjustment or other similar transaction or other change in the capital
      structure of the Company).

    

    

    (c)          “Expiration Date” means the earlier to occur of (i) the Effective Time and (ii) the termination of the Merger Agreement in accordance with its terms.

    

    

    (d)          “Transfer” means, with respect to any Selling Investor, that such Selling Investor sells, pledges, Encumbers, exchanges, assigns, grants an option with
      respect to, transfers, tenders or otherwise disposes of its Beneficial Ownership of Covered Shares.

    

    

    2.          Agreement Not to Transfer or Encumber.  Each Selling Investor hereby agrees that, from the date hereof until the Expiration Date, it shall not Transfer any Covered
      Shares, cause the conversion of any Covered Shares or deposit any Covered Shares into a voting trust or enter into any tender, voting or other agreement or arrangement with any Person with respect to any Covered Shares or grant a proxy or power of
      attorney with respect thereto (other than pursuant to this Agreement or the Drag-Along Consent) or give instructions with respect to the voting of the Covered Shares in any manner that is inconsistent with this Agreement or otherwise take any other
      action with respect to the Covered Shares that would in any way restrict, limit or interfere with the performance by the Selling Investors of their obligations hereunder or the transactions contemplated hereby, including the execution and delivery of
      the Written Consent approving the adoption of the Merger Agreement and approving the Transactions; provided, however, that the Stockholder may Transfer all or any portion of the Shares to one or more of its controlled Affiliates or a family
      member that, prior to such Transfer, executes and delivers to the Parent a written agreement, in form and substance reasonably acceptable to Parent, to assume all of the Selling Investor’s obligations hereunder and to be bound by the terms of this
      Agreement to the same extent as the Selling Investor is bound hereunder and to make each of the representations and warranties hereunder in respect of the Covered Shares transferred as the Selling Investor shall have made hereunder.  Notwithstanding
      the foregoing, following the receipt of the Company Stockholder Approvals, a Selling Investor may cause the conversion of any shares of Company Class B Common Stock into shares of Company Class A Common Stock in accordance with the Company’s
      certificate of incorporation.

    

    

    3.          Agreement to Consent and Approve.

    

    

    (a)          Each Selling Investor agrees to execute and deliver the Drag-Along Consent in such Selling Investor’s capacity as a holder of Company Preferred Shares, and (ii) to
      refrain from (x) withdrawing, revoking, rescinding, modifying or amending in any manner the Drag-Along Consent or (y) modifying or amending in any manner, or waiving compliance of, the Voting Agreement.

    

    

    
      2

      
        

    

    

    

    (b)          Each Selling Investor hereby irrevocably and unconditionally agrees, promptly after the Registration Statement (which shall include the Consent Solicitation
      Statement) is declared effective by the SEC (and in any event within five Business Days after notification thereof to such Selling Investor), to execute and deliver, or cause to be executed and delivered, a written consent substantially in the form
      attached hereto as Exhibit A (the “Written Consent”) approving the adoption of the Merger Agreement and approving the Transactions, including the Mergers, with respect to all of such Selling Investor’s Covered Shares.  The Selling
      Investor’s execution and delivery of the Written Consent shall be carried out in accordance with the DGCL and the organizational documents of the Company, so as to ensure that it is duly counted for purposes of recording the results of such consent.

    

    

    (c)          Each Selling Investor hereby irrevocably and unconditionally agrees that, from the date hereof until the Expiration Date, it shall vote or cause to be voted
      (including by written consent) all of such Selling Investor’s Covered Shares (i) in favor of (A) the adoption of the Merger Agreement and the approval of the Transactions and (B) any amendment to the Company’s certificate of incorporation or Investor
      Agreements to the extent contemplated in Section 9.04 of the Merger Agreement and otherwise as is reasonably necessary to permit to, or assist the Company in, complying with its obligations under Section 9.04 of the Merger
      Agreement and (ii) against (A) any Competing Proposal; (B) any amendment of the organizational documents of the Company which would prevent or materially delay the consummation of the Transactions, including the Mergers; or (C) any other action,
      agreement or transaction involving the Company that would reasonably be expected to prevent or materially delay the consummation of the Transactions, including the Mergers.

    

    

    (d)          Each Selling Investor agrees that, from the date hereof until the Expiration Date, in the event that a meeting of the stockholders of the Company is held regarding
      the Merger Agreement, the Transactions or any of the matters referred to in Section 3(c), it shall, or shall cause the holder of record of any of the Covered Shares of such Selling Investor on any applicable record date to, be present in person or
      represented by proxy at such meeting or otherwise cause all Covered Shares of such Selling Investor to be counted as present thereat for purposes of establishing a quorum, and shall vote all of such Selling Investor’s Covered Shares at such meeting
      in accordance with Section 3(c).

    

    

    (e)          Except for the delivery of the Written Consent expressly contemplated by this Agreement, prior to the Expiration Date, no Selling Investor shall call, seek to call
      or request the call of any meeting of stockholders of the Company with respect to any matter relating to the Mergers or any other Transaction, or take any action by consent relating to the Mergers or any other Transaction, other than as expressly
      contemplated by Section 3(c), whether pursuant to the DGCL, the organizational documents of the Company or otherwise.

    

    

    (f)          Notwithstanding anything to the contrary herein, in no event shall this Section 3 require or be construed so as to require any Selling Investor to vote or cause to
      be voted (including by written consent) such Selling Investor’s Covered Shares in favor of or against any stockholder vote to approve “parachute payments” (within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended, and the
      Treasury Regulations thereunder) solicited in connection with the Transaction.

    

    

    
      3

      
        

    

    

    

    (g)          Notwithstanding anything to the contrary herein, in the event that a vote or consent of the stockholders of the Company is required in order to effect an amendment
      to the Merger Agreement that reduces the amount or changes the form of consideration payable in respect of each share of Company Capital Stock in the Mergers or otherwise amends the Merger Agreement in a manner adverse to the Selling Investor (any
      such amendment, an “Adverse Amendment”), the provisions of this Section 3 shall not apply with respect to the Selling Investor’s vote or consent with respect to such Adverse Amendment (and Selling Investor shall not be required to vote or
      consent to such Adverse Amendment); provided, however, that the term “Adverse Amendments” shall not include the amendments contemplated in Section 3(c)(i)(B).

    

    

    4.          Voided Acts. Any (i) Transfer (or purported Transfer) in breach of this Agreement or (ii) attempt by any Selling Investor to vote, or express consent or dissent
      with respect to (or otherwise to utilizing the voting power of), its Covered Shares in contravention of this Agreement shall be null and void ab initio.

    

    

    5.          Agreement Not to Solicit.  Each Selling Investor agrees that it shall not, and shall cause each of such Selling Investor’s controlled Affiliates not to, and shall
      instruct such Selling Investor’s and such Selling Investor’s controlled Affiliates’ Representatives not to, directly or indirectly, (a) solicit, initiate seek, or take any other action to facilitate or encourage the making, submission or announcement
      of any proposal that constitutes, or would be reasonably be expected to lead to, any Competing Proposal, (b) enter into, maintain, continue or participate in any discussions or negotiations with any Person or entity in furtherance of, or furnish to
      any Person any information or otherwise cooperate in any way with respect to, any Competing Proposal, (c) agree to, approve, endorse, recommend or consummate any Competing Proposal, (d) enter into, or propose to enter into, any Competing Transaction
      Agreement, or (e) resolve, propose or agree, or authorize or permit any Representative to do any of the foregoing.  Each Selling Investor shall, and each Selling Investor shall cause such Selling Investor’s controlled Affiliates and use such Selling
      Investor’s reasonable best efforts to cause such Selling Investor’s Representatives to, immediately cease and cause to be terminated any discussions and negotiations with any Person conducted heretofore with respect to any Competing Proposal or
      proposal that would reasonably be expected to lead to a Competing Proposal.

    

    

    6.          Commencement or Participation in Actions.  Each Selling Investor hereby agrees not to commence or join in, and to take all reasonable actions necessary to opt out
      of (if applicable), any Action against the Company and/or its directors and officers (for the avoidance of doubt, participating in the defense of such Action or any Action to enforce the Drag-Along is not prohibited by this Section 6) with respect
      to, any litigation (a) challenging the validity of, or seeking to enjoin the operation of, any provision of this Agreement or the Merger Agreement or the exercise of the Drag-Along in connection with the Transactions or (b) alleging a breach of any
      fiduciary duty of the Company Board or its members or any stockholder of the Company in connection with the Merger Agreement, the Transactions or the transactions contemplated hereby.

    

    

    
      4

      
        

    

    

    

    7.         Appraisal Rights or Rights of Dissent.  Each Selling Investor hereby waives, and agrees not to exercise or assert, any appraisal or dissenters’ rights it may have
      or could potentially have or acquire in connection with the Mergers under Section 262 of the DGCL and otherwise, whether or not such Selling Investor has previously made a written demand upon the Company and otherwise complied with the appraisal
      rights provisions of the DGCL.

    

    

    8.         Confidentiality.  Each Selling Investor agrees that, for a period of two years following the Expiration Date, such Selling Investor shall not, and shall cause its
      Affiliates, directors, officers, employees and agents not to divulge or convey to any third party, any of the Company’s confidential information, other than: (i) any of the Company’s confidential information that is or becomes generally available to
      the public other than as a result of an act or omission by such Selling Investor or its Affiliate, director, officer, employee or agent, (ii) any information that has been independently developed or conceived by the Selling Investor or its
      Affiliates, director, officer, employee or agent, (iii) is or has been made known or disclosed to the Selling Investor by a third party without a breach of any obligation of confidentiality such third party may have to the Company.  Notwithstanding
      the foregoing, each Selling Investor shall be permitted to make any such disclosure (a) to its directors, officers, employees and agents who reasonably need to know such information and who agree to keep such information confidential and are made
      aware of the Selling Investor’s obligations of confidentiality under this Agreement and (b) to the extent requested by a Governmental Authority or required by Law or legal process (in which case the Selling Investor will, to the extent reasonably
      practicable and legally permissible, provide Parent with advance notice of such required or requested disclosure, shall use commercially reasonable efforts to resist such disclosure, and, at the request of Parent, shall cooperate with Parent to, at
      Parent’s sole cost and expense, limit or prevent such disclosure).

    

    

    9.         Directors and Officers.  Each Selling Investor is entering into this Agreement solely in its capacity as a Beneficial Owner of Covered Shares, and in this regard,
      such Selling Investor shall not be deemed to make any agreement or understanding in this Agreement in such Selling Investor’s capacity as a director or officer of the Company, including with respect to Section 7.02 of the Merger Agreement.  The
      parties acknowledge and agree that nothing in this Agreement shall (i) restrict in any respect any actions taken by a Selling Investor or its designee who is a director or officer of the Company in his or her capacity as a director or officer of the
      Company or (ii) be construed to prohibit, limit or restrict the Selling Investor or its designee from exercising its fiduciary duties as a director or officer of the Company.

    

    

    10.       Irrevocable Proxy.

    

    

    (a)          Each Selling Investor hereby irrevocably grants to, and appoints, Parent, and any individual designated in writing by Parent, and each of them individually, as such
      Selling Investor’s proxy and attorney-in-fact (with full power of substitution), for and in the name, place and stead of such Selling Investor, to vote such Selling Investor’s Covered Shares, or execute a written consent or grant approval in respect
      of such Covered Shares, in a manner consistent with this Agreement from the date hereof until the Expiration Date, provided, however, for the avoidance of
      doubt, that such proxy and voting and related rights are limited to those matters set forth in clauses (b)-(d) of Section 3, and each Selling Investor shall retain at all times the right to vote such Selling Investor’s Covered Shares (or to direct
      how such Covered Shares shall be voted) in such Selling Investor’s sole discretion and without any other limitation on any matters not connected with the Transactions.  Each Selling Investor understands and acknowledges that Parent has entered into
      the Merger Agreement in reliance upon such Selling Investor’s execution and delivery of this Agreement.  Each Selling Investor hereby affirms that the irrevocable proxy set forth in this Section 10(a) is given to secure the performance of the duties
      of such Selling Investor under this Agreement.  Each Selling Investor hereby further affirms that the irrevocable proxy is coupled with an interest sufficient in law and such irrevocable proxy is executed and intended to be irrevocable in accordance
      with applicable Law and Section 2.09 of the Company’s bylaws until, and shall not be terminated by operation of Law or upon the occurrence of any other event other than, the termination of this Agreement
      pursuant to Section 19.  Each Selling Investor shall, upon written request by Parent, as promptly as practicable, execute and deliver to Parent a separate written instrument or proxy that embodies the terms of this irrevocable proxy set forth in this
      Section 10(a).  Each Selling Investor agrees not to grant any proxy that conflicts with or is inconsistent with the proxy granted to Parent in this Agreement.

    

    

    
      5

      
        

    

    

    

    (b)          Each Selling Investor hereby revokes (or agrees to cause to be revoked) any proxies that conflict with or are inconsistent with the proxy granted to Parent in this
      Agreement that such Selling Investor has heretofore granted with respect to the Covered Shares Beneficially Owned by such Selling Investor, other than any such proxy granted to Parent pursuant to the Drag-Along Consent and Voting Agreement.

    

    

    11.       [Reserved].

    

    

    12.       Representations and Warranties of Parent. Parent hereby represents and warrants as follows:

    

    

    (a)       Organization and Qualification. Parent is a legal entity duly organized, validly existing and in good standing under the Laws of the jurisdiction of its
      incorporation.

    

    

    (b)       Authority; Binding Agreement.  (i) Parent has all requisite power and authority to execute and deliver this Agreement,
      to perform its obligations hereunder and to consummate the transactions contemplated hereby, and (ii) the execution and delivery by Parent of this Agreement and the performance of Parent’s obligations and the consummation of the transactions
      contemplated hereby by Parent have been duly authorized by all necessary action, and no other actions on the part of Parent (or its board of directors or stockholders) are necessary to authorize or adopt this Agreement or to consummate the
      transactions contemplated by this Agreement.  This Agreement has been duly executed and delivered by Parent, and, assuming this Agreement constitutes a valid and binding obligation of the Selling Investors, constitutes a valid and binding obligation
      of Parent, enforceable against Parent in accordance with its terms, subject to the effect of any applicable bankruptcy, insolvency (including all Laws relating to fraudulent transfers), reorganization, moratorium or similar Laws affecting creditors’
      rights generally and subject to the effect of general principles of equity (regardless of whether considered in a proceeding at law or in equity).

    

    

    (c)          No Conflicts.  None of the execution and delivery by Parent of this Agreement, the performance by Parent of its
      obligations hereunder or the consummation by Parent of the transactions contemplated hereby does or would reasonably be expected to conflict with or result in a violation or breach of (i) Parent’s certificate of incorporation or bylaws, (ii) any
      other contract to which Parent is a party or by which Parent may be bound, except for violations, breaches or defaults that, individually or in the aggregate, would not reasonably be expected to in any material respect impair or adversely affect the
      ability of Parent to perform its obligations under this Agreement, or (iii) any Law applicable to Parent.

    

    

    
      6

      
        

    

    

    

    (d)          No Litigation.  There are no Actions pending or, to the knowledge of Parent, threatened against Parent, or any Order to which Parent is subject, except, in
      each case, for those that, individually or in the aggregate, would not reasonably be expected to prevent or materially and adversely impair or otherwise affect the ability of Parent to fully perform its obligations under this Agreement.

    

    

    13.       Representations and Warranties of the Selling Investors.  Each Selling Investor (severally and not jointly) hereby represents and warrants as follows:

    

    

    (a)          Organization and Qualification.  If such Selling Investor is not an individual, such Selling Investor is a legal entity duly formed or organized (as
      applicable), validly existing and in good standing under the Laws of the jurisdiction in which it is formed or organized, as applicable.

    

    

    (b)          Authority; Binding Agreement.  If such Selling Investor is an individual, he or she has full legal capacity, right
      and authority to execute and deliver this Agreement and to perform his or her obligations hereunder and consummate the transactions contemplated hereby.  If such Selling Investor is not an individual, (i) such Selling Investor has all requisite power
      and authority to execute and deliver this Agreement, to perform such Selling Investor’s obligations hereunder and to consummate the transactions contemplated hereby and (ii) the execution and delivery by such Selling Investor of this Agreement and
      the performance of such Selling Investor’s obligations and the consummation of the transactions contemplated hereby by such Selling Investor have been duly authorized by all necessary action, and no other actions on the part of such Selling Investor
      (or its governing body, board of directors, members, partners, stockholders or trustees, as applicable) are necessary to authorize or adopt this Agreement or to consummate the transactions contemplated by this Agreement.  This Agreement has been duly
      executed and delivered by such Selling Investor, and, assuming this Agreement constitutes a valid and binding obligation of Parent, constitutes a valid and binding obligation of such Selling Investor, enforceable against such Selling Investor in
      accordance with its terms, subject to the effect of any applicable bankruptcy, insolvency (including all Laws relating to fraudulent transfers), reorganization, moratorium or similar Laws affecting creditors’ rights generally and subject to the
      effect of general principles of equity (regardless of whether considered in a proceeding at law or in equity).

    

    

    (c)          No Conflicts.  None of the execution and delivery by such Selling Investor of this Agreement, the performance by such
      Selling Investor of such Selling Investor’s obligations hereunder or the consummation by such Selling Investor of the transactions contemplated hereby does or would reasonably be expected to conflict with or result in a violation or breach of, or in
      default under, (i) if such Selling Investor is not an individual, such Selling Investor’s articles or certificate of formation, incorporation or organization, operating agreement, bylaws or comparable organizational documents, as applicable, each in
      its currently effective form as amended from time to time, (ii) any other contract to which such Selling Investor is a party or by which such Selling Investor may be bound, including any voting agreement or voting trust, or (iii) any Law applicable
      to such Selling Investor, except, in each case, for violations, breaches or defaults that, individually or in the aggregate, would not reasonably be expected to (x) in any material respect impair or adversely affect the ability of such Selling
      Investor to perform such Selling Investor’s obligations under this Agreement on a timely basis or (y) prevent or materially delay the consummation of the Transactions.  The execution, delivery and performance by such Selling Investor of this
      Agreement, and the consummation by such Selling Investor of the transactions contemplated hereby, require no consent or action by or in respect of, or filing with, any Governmental Authority.

    

    

    
      7

      
        

    

    

    

    (d)          Ownership of Shares.  Such Selling Investor (i) is the lawful record and Beneficial Owner of the shares of Company
      Stock set forth opposite such Selling Investor’s name on Schedule 1(b) attached hereto and has, and at all times prior to the Expiration Date will have, the sole power to vote (or cause to be voted), Transfer, or demand or waive any appraisal rights
      with respect to, such shares of Company Stock, all of which are free and clear of, and not subject to, any Encumbrances (other than those (A) created by this Agreement, (B) applicable to such Selling Investor’s Covered Shares that may exist pursuant
      to securities Laws or (C) any proxies that are not required by Section 10(b) to be revoked and which do not relate to the Mergers, the Transactions or Competing Proposals) and (ii) as of the date hereof, does not Beneficially Own or have the right to
      vote (or cause the voting of) any shares of any class of Company Stock or other securities of the Company or any interest therein or any voting rights with respect to any securities of the Company other than the shares of Company Stock set forth
      opposite such Selling Investor’s name on Schedule 1(b) attached hereto.

    

    

    (e)          [Reserved].

    

    

    (f)          No Litigation.  As of the date hereof, there are no Actions pending or, to the knowledge of such Selling Investor, threatened against such Selling Investor,
      or any Order to which such Selling Investor is subject, except, in each case, for those that, individually or in the aggregate, would not reasonably be expected to (i) prevent or impair or materially delay the ability of such Selling Investor to
      fully perform such Selling Investor’s obligations under this Agreement on a timely basis or (ii) prevent or materially delay the consummation of the Transactions.

    

    

    (g)          No Finder’s Fees.  No broker, investment banker, financial advisor, finder, agent or other Person is entitled to any broker’s, finder’s, financial advisor’s
      or other similar fee or commission payable by the Company in connection with this Agreement based upon arrangements made by or on behalf of such Selling Investor in his, her or its capacity as a stockholder of the Company.

    

    

    14.        Disclosure and Communications.

    

    

    (a)          Each Selling Investor hereby consents to and authorizes the publication and disclosure of such Selling Investor’s identity and ownership, this Agreement and the
      nature of such Selling Investor’s commitments, arrangements and understandings pursuant to this Agreement and such other information pertinent to such disclosure, including the filing of this Agreement, by Parent and the Company in the Registration
      Statement, Consent Solicitation Statement or other disclosure document required by applicable Law to be filed with the SEC or other Governmental Authority in connection with this Agreement, the Merger Agreement or the Transactions, and agrees to
      reasonably cooperate with Parent in connection with such filings.

    

    

    
      8

      
        

    

    

    

    (b)          The Selling Investors shall not issue or make any press release or public announcement related to this Agreement, the Merger Agreement or the Transactions, or any
      other announcement or communication to the employees, customers or suppliers of the Company or any of its Subsidiaries, in each case without the approval of Parent, unless required by applicable Law; provided, that, each Selling Investor may
      make public statements that do not contain any information relating to the Transactions that has not been previously announced or made public in accordance with this Agreement or the Merger Agreement so long as no such public statement (i) disparages
      the Transactions, (ii) encourages other holders of capital stock of the Company to vote against, or withhold their vote or consent on, the Transactions, including the adoption of the Merger Agreement, or (iii) encourages other holders of capital
      stock of the Company to exercise appraisal rights.

    

    

    15.        No Ownership Interest.  Nothing contained in this Agreement shall be deemed to vest in Parent any direct or indirect ownership or incidence of ownership of or with
      respect to any Covered Shares.  All ownership and economic benefits of and relating to the Covered Shares shall remain vested in and belong to the applicable Selling Investor, and, except as otherwise provided herein, Parent shall not have any
      authority to direct any Selling Investor in the voting or disposition of any Covered Shares.  For the avoidance of doubt, each Selling Investor shall be entitled to any dividends or other distributions declared by the Company Board with respect to
      such Selling Investor’s Covered Shares having a record date prior to the Effective Time.

    

    

    16.        [Reserved].

    

    

    17.        Stop Transfer Instructions.  Each Selling Investor shall not request that the Company register the Transfer (book-entry or otherwise) of any certificated or
      uncertificated interest representing any of such Selling Investor’s Covered Shares, unless such Transfer is made in compliance with this Agreement.  Each Selling Investor hereby authorizes Parent to direct the Company to impose stop orders to prevent
      the Transfer of any Covered Shares on the books of the Company in violation of this Agreement.

    

    

    18.        [Reserved.]

    

    

    19.        Termination.  This Agreement, and all rights and obligations of the parties hereunder, shall terminate and shall have no further force or effect upon the
      termination of the Merger Agreement in accordance with its terms; provided, however, that (i) this Section 19 and Sections 1, 14 and 23 shall survive any termination of the Agreement and (ii) Sections 2, 3, 4, 5, 10 and 17 shall
      terminate and shall have no further force or effect as of the Expiration Date.  Notwithstanding the foregoing, nothing set forth in this Section 19 or elsewhere in this Agreement shall relieve either party hereto from liability, or otherwise limit
      the liability of a Selling Investor, for any intentional breach of this Agreement prior to such termination.

    

    

    
      9

      
        

    

    

    

    20.        Transaction Documents.  Each Selling Investor acknowledges that the Merger Agreement and the other Transaction Documents may be amended in accordance with the terms
      and conditions set forth in the Merger Agreement and the other Transaction Documents.

    

    

    21.        Waiver.  Each Selling Investor hereby waives any and all notice, information and consent requirements, as well as any right of first refusal, right of first offer,
      right of first negotiation, right restricting share transfers, redemption right, co-sale right, registration right, preemptive right and other similar rights, that may be applicable to, or triggered by, the Transactions, including the Mergers, the
      Merger Agreement, the other Transaction Documents and any of the transactions contemplated thereby that are contained in the Company’s organizational documents or any contractual obligation between the Company and such Selling Investor, or under
      applicable Law.

    

    

    22.        Release by Selling Investors.

    

    

    (a)          Effective as of the Effective Time, each Selling Investor, on behalf of himself, herself or itself and each of his, her or its
        past, present and future controlled Affiliates, parent(s) and subsidiary companies, representatives, and assigns (each, a “Selling Investor Releasing Party” and, collectively, the “Selling Investor Releasing Parties”) hereby
        absolutely, unconditionally and irrevocably releases, acquits and forever discharges the Company and each of its respective past, present and future controlled Affiliates, parent(s) and subsidiary companies, joint ventures, predecessors, successors
        and assigns, and their respective past, present and future representatives, investors, equityholders, insurers and indemnitees, firms, corporations, limited liability companies, partnerships, trusts, associations, organizations, stockholders,
        members, managers, directors, officers, employees, partners, trustees, principals, consultants, contractors, family members, heirs, executors, administrators, predecessors, successors and assigns (collectively the “Selling Investor Released
          Parties”), of and from any and all manner of action or inaction, cause or causes of action, Actions, Encumbrances, contractual obligations, promises, liabilities or damages (whether for compensatory, special, incidental or punitive damages,
        equitable relief or otherwise) of any kind or nature whatsoever, past, present or future, at law, in equity or otherwise (including with respect to conduct which is negligent, grossly negligent, willful, intentional, with or without malice, or a
        breach of any duty, applicable Law or rule), whether known or unknown, whether fixed or contingent, whether concealed or hidden, whether disclosed or undisclosed, whether liquidated or unliquidated, whether foreseeable or unforeseeable, whether
        anticipated or unanticipated, whether suspected or unsuspected (“Claims”), which such Selling Investor Releasing Parties, or any of them, ever have had or ever in the future may have against the Selling Investor Released Parties, or any of
        them, in each case, to the extent arising solely as a result of the ownership or purported ownership of any of Company Stock, Company Stock Options or other security or interest of the Company and which, in each case, are based on acts, events or
        omissions occurring prior to or contemporaneously with the Effective Time (the “Selling Investor Released Claims”); provided, however, that the foregoing release shall not release, impair or diminish, and the term “Selling
        Investor Released Claims” shall not include, in any respect (i) the Selling Investor’s right pursuant to the Transaction Documents, including the right to receive its respective portion of the Merger Consideration; (ii) any Claims for
        indemnification, insurance benefits, reimbursement or advancement of expenses in such Selling Investor Releasing Party’s capacity as a director, officer or employee of the Company under the Company’s organizational documents or any indemnification
        agreement in effect as of the date hereof (or any fiduciary insurance policy maintained by the Company or the Surviving Corporation for the benefit of the Selling Investor, or any indemnification agreements with the Selling Investor or its board
        designee) with respect to any act, omission, event or transaction occurring prior to or contemporaneously with the Effective Time; or (iii) the rights of any Selling Investor Releasing Party in his or her capacity as an employee of the Company.

    

    

    
      10

      
        

    

    

    

    

    

    (b)          Each Selling Investor Releasing Party represents and acknowledges that he, she or it has read this release and the Merger
        Agreement and other Transaction Documents and understands their terms and has been given sufficient opportunity to review this release and the Transaction Documents and to ask questions of the Company’s Representatives. Each Selling Investor
        Releasing Party further represents that, in signing this release, he, she or it does not rely, and has not relied, on any representation or statement made by any Representative of the Company or any other Person with respect to the subject matter,
        basis or effect of this release or otherwise, except such express representations and warranties set forth in the Merger Agreement or this Agreement.

     

      

    (c)          Without limiting the generality of Section 22(a), with respect to the Selling Investor Released Claims, each Selling Investor
        Releasing Party acknowledges that he, she or it is familiar with Section 1542 of the Civil Code of the State of California (“Section 1542”) and hereby expressly waives all rights under Section 1542 and any similar applicable Law or common
        law principle in any applicable jurisdiction prohibiting or restricting the waiver of unknown claims.  Section 1542 reads as follows:

    

    

    “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND
      THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.”

    

    

    (d)          Notwithstanding the provisions of Section 1542 or any similar applicable Law or common law principle in any applicable
        jurisdiction, each Selling Investor Releasing Party expressly acknowledges that the foregoing release is intended to include in its effect all Claims within the scope of such release which any Selling Investor Releasing Party does not know or
        suspect to exist in his, her or its favor against any of the Selling Investor Released Parties (including, without limitation, unknown and contingent Claims), and that the foregoing release expressly contemplates the extinguishment of all such
        Claims (except to the extent expressly set forth in this Section 22).

    

    

    23.       Miscellaneous and General.

    

    

    (a)          Amendments; Waivers, Etc.  This Agreement may not be amended, changed, supplemented or otherwise modified with respect to any Selling Investor, except upon
      the execution and delivery of a written agreement executed by each of Parent and such Selling Investor.  Any agreement on the part of any party to any waiver or any extension of time for performance shall be valid only if set forth in an instrument
      in writing signed on behalf of such party.  No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further
      exercise thereof or the exercise of any other right, power or privilege.  Except as otherwise herein provided, the rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by applicable Law or
      equity, and the exercise by a party of any one remedy will not preclude the exercise of any other remedy.

    

    

    
      11

      
        

    

    

    

    (b)        Counterparts; Effectiveness.  This Agreement may be executed in any number of counterparts (including by facsimile or
      by attachment to electronic mail in portable document format (PDF)), each such counterpart being deemed to be an original instrument, and all such counterparts shall together constitute the same agreement, and shall become effective when one or more
      counterparts have been signed by each of the parties hereto and delivered to the other parties hereto.

    

    

    (c)        Governing Law; WAIVER OF JURY TRIAL.

    

    

    (i)          This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, without giving effect to any choice or conflict of law
      provisions or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware.  All Actions arising out of or relating to this Agreement or the
      transactions contemplated hereby shall be heard and determined exclusively in the Court of Chancery of the State of Delaware and any state appellate court therefrom within the State of Delaware ((or in the event, but only in the event, that the Court
      of Chancery of the State of Delaware does not have subject matter jurisdiction, the Superior Court of the State of Delaware (Complex Commercial Division) or, if subject matter jurisdiction over the action or proceeding is vested exclusively in the
      federal courts of the United States of America, the United States District Court for the District of Delaware, and, in each case, the appellate court(s) therefrom).  The parties hereto hereby (A) irrevocably submit to the exclusive jurisdiction of
      the Court of Chancery of the State of Delaware and any state appellate court therefrom within the State of Delaware ((or in the event, but only in the event, that the Court of Chancery of the State of Delaware does not have subject matter
      jurisdiction, the Superior Court of the State of Delaware (Complex Commercial Division) or, if subject matter jurisdiction over the action or proceeding is vested exclusively in the federal courts of the United States of America, the United States
      District Court for the District of Delaware, and, in each case, the appellate court(s) therefrom) for the purpose of any Action arising out of or relating to this Agreement or the transactions contemplated hereby brought by any party hereto,
      (B) irrevocably waive, and agree not to assert by way of motion, defense or otherwise, in any such Action, any claim that it is not subject personally to the jurisdiction of the above‐named courts, that its property is exempt or immune from
      attachment or execution, that the Action is brought in an inconvenient forum, that the venue of the Action is improper, or that this Agreement or the transactions contemplated hereby may not be enforced in or by the above‐named courts, and (C) agree
      that such party will not bring any Action arising out of or relating to this Agreement or the transactions contemplated hereby in any court other than the Court of Chancery of the State of Delaware (or in the event, but only in the event, that the
      Court of Chancery of the State of Delaware does not have subject matter jurisdiction, the Superior Court of the State of Delaware (Complex Commercial Division) or, if subject matter jurisdiction over the action or proceeding is vested exclusively in
      the federal courts of the United States of America, the United States District Court for the District of Delaware).  Service of process, summons, notice or document to any party’s address and in the manner set forth in Section 23(d) shall be
      effective service of process for any such action.

    

    

    
      12

      
        

    

    

    

    (ii)          EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE, EACH
      OF THE PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS
      AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.  EACH OF THE PARTIES HERETO CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN
      THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (B) EACH SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) EACH SUCH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (D) EACH SUCH PARTY HAS BEEN INDUCED TO ENTER
      INTO THIS AGREEMENT AND THE TRANSACTIONS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS IN THIS SECTION 23(C)(II).

    

    

    (d)          Notices.  Notices, requests, instructions or other documents to be given under this Agreement shall be in writing and
      shall be deemed given, (i) on the date sent by e-mail of a PDF document if sent during normal business hours of the recipient, and on the next business day if sent after normal business hours of the recipient, (ii) when delivered, if delivered
      personally to the intended recipient, and (iii) one Business Day later, if sent by overnight delivery via a national courier service (providing proof of delivery), and in each case, addressed to a party at the following address for such party:

    

    

    if to Parent:

    

    

    
      	
               

            	
              Illumina, Inc.

              5200 Illumina Way

              San Diego, California  92122

            
	
               

            	Attention:	
              Charles E. Dadswell, Senior Vice President and General 

              Counsel

            
	 	Telephone:	858-202-4500
	 	Facsimile:	858-202-4545
	 	Email:	CDadswell@illumina.com
	 	 	legalnotices@illumina.com

    

    

    with copies to (which shall not constitute notice):

    
      

      

      
        	
                 

              	Cravath, Swaine & Moore LLP
	 	Worldwide Plaza
	 	825 Eighth Avenue

        

        

        

        

        
          13

          
            

        

        

        

        	 	New York, NY 10019
	
                 

              	Attention:	Faiza J. Saeed, Esq.
	 	

              	Ting S. Chen, Esq.
	 	Email:	fsaeed@cravath.com
	 	

              	tchen@cravath.com

      

    

    

    if to a Selling Investor, to such Selling Investor at the address corresponding to such Selling Investor’s name on Schedule 1(b) with copies (which shall not constitute notice) to the Company (in accordance with
        Section 11.02 of the Merger Agreement) and to its counsel:

    
      
        

        

        
          	
                   

                	Latham & Watkins LLP
	 	355 South Grand Avenue, Suite 100
	 	Los Angeles, California  90071-1560
	
                   

                	Attention:	Alex W. Voxman, Esq.
	 	

                	Andrew Clark, Esq.
	 	Email:	alex.voxman@lw.com
	 	

                	andrew.clark@lw.com

        

      

    

    

    Notice may be given to such other persons or addresses as may be designated in writing by the party to receive such notice as provided above.

    

    

    (e)          Entire Agreement.  This Agreement (including any Schedules hereto) and the Merger Agreement constitute the entire
      agreement, and supersedes all other prior agreements, understandings, representations and warranties both written and oral, among the parties hereto, with respect to the subject matter hereof.

    

    

    (f)          Parties in Interest; No Third Party Beneficiaries.  Subject to Section 23(i), and without relieving any party of any
      obligation hereunder, this Agreement shall be binding upon and inure solely to the benefit of each party hereto and their respective successors and permitted assigns. This Agreement is not intended to, and does not, confer upon any Person other than
      the parties hereto any rights or remedies hereunder.

    

    

    (g)          Severability.  The provisions of this Agreement shall be deemed severable and the invalidity or unenforceability of any
      provision shall not affect the validity or enforceability of the other provisions hereof.  If any provision of this Agreement, or the application thereof to any Person or any circumstance, is invalid or unenforceable, (i) a suitable and equitable
      provision negotiated in good faith by the parties hereto shall be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent and purpose of such invalid or unenforceable provision and (ii) the remainder of this
      Agreement and the application of such provision to other Persons or circumstances shall not, subject to clause (i) above, be affected by such invalidity or unenforceability, except as a result of such substitution, nor shall such invalidity or
      unenforceability affect the validity or enforceability of such provision, or the application thereof, in any other jurisdiction.

    

    

    
      14

      
        

    

    

    

    (h)        Interpretation.

    

    

    (i)          The Section headings or captions herein are for convenience of reference only, do not constitute part of this Agreement and shall not be deemed to limit or otherwise
      affect any of the provisions hereof.  Where a reference in this Agreement is made to a Section or Schedule, such reference shall be to a Section of or Schedule to this Agreement unless otherwise indicated.  Whenever the words “include”, “includes” or
      “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation”.  The words “hereof”, “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a
      whole and not to any particular provision of this Agreement.  The word “or” when used in this Agreement is not exclusive. The word “extent” in the phrase “to the extent” shall mean the degree to which a subject or other thing extends, and such phrase
      shall not mean simply “if”.  All terms defined in this Agreement shall have the defined meanings when used in any certificate or other document made or delivered pursuant hereto unless otherwise defined therein.  The definitions contained in this
      Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such term.  Any statute defined or referred to herein means such statute as from time to time
      amended, modified or supplemented, including by succession of comparable successor statutes.  Any agreement or instrument defined or referred to herein includes all attachments thereto and instruments incorporated therein.

    

    

    (ii)          The parties have participated jointly in negotiating and drafting this Agreement.  In the event that an ambiguity or a question of intent or interpretation arises, this
      Agreement shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement.

    

    

    (i)          Assignment.  This Agreement shall not be assignable by operation of law or otherwise without the prior written consent of
      each of the parties.  Any purported assignment in contravention of the preceding sentence shall be null and void.

    

    

    (j)          Expenses.  All costs and expenses incurred in connection with this Agreement shall be paid by the party incurring such cost or expense, whether or not the
      transactions contemplated by this Agreement or the Merger Agreement are consummated.

    

    

    (k)          Specific Performance.  The parties hereto acknowledge and agree that irreparable damage would occur and that the parties
      would not have any adequate remedy at law if any provision of this Agreement were not performed in accordance with its specific terms or were otherwise breached, and that monetary damages, even if available, would not be an adequate remedy therefor. 
      It is accordingly agreed that Parent shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the performance of the terms and provisions hereof in any court referred to in Section 23(c),
      without proof of actual damages (and each party hereby waives any requirement for the security or posting of any bond in connection with such remedy), this being in addition to any other remedy to which they are entitled at law or in equity.  The
      parties further agree not to assert that a remedy of specific enforcement is an unenforceable, invalid, contrary to applicable Law or inequitable remedy for any reason, and not to assert that a remedy of monetary damages would provide an adequate
      remedy for any such breach or that Parent otherwise has an adequate remedy at law.

    

    

    
      15

      
        

    

    

    

    IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

    

    

    
      	 	ILLUMINA, INC.	 
	 	 	 	 
	

            	
              By: 

            	/s/ Francis deSouza

            	 
	 	 	Name:	Francis deSouza

            	 
	 	 	Title:	President and Chief Executive Officer

            	 

    

  

  
    

    

    

    

    

    

    

    

    

    

    

    
      [Parent Signature Page to Selling Investor Support Agreement]

    

    
      
        

    

    IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

    
      
        

        

        
          	 	[Selling Investor]	 
	 	 	 	 
	

                	
                  By: 

                	/s/ Francis deSouza

                	 
	 	 	Name:	Francis deSouza

                	 
	 	 	Title:	President and Chief Executive Officer

                	 

        

      

      
        

        

        
          
            

            

            
              

              

            

          

          

        

        

        

        

        

        

        

        

        
          
            [Selling Investor Signature Page to Selling Investor Support Agreement]

            
              
                

            

          

        

      

    

    

    

    
      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      

      

      
        
          
            	 	
                    6 Dimensions Capital, L.P.

                     

                    By: 6 Dimensions Capital GP, LLC

                    Its: General Partner

                  	 
	 	 	 	 
	

                  	
                    By: 

                  	/s/ Leon Chen 	 
	 	 	Name:	Leon Chen 	 
	 	 	Title:	Director 	 

          

        

        

        

        

        

        
          
            
              	 	
                      6 Dimensions Affiliates Fund, L.P.

                       

                      By: 6 Dimensions Capital GP, LLC

                      Its: General Partner

                    	 
	 	 	 	 
	

                    	
                      By: 

                    	/s/ Leon Chen 	 
	 	 	Name:	Leon Chen 	 
	 	 	Title:	Director 	 

            

          

          

          

        

        

        

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      

      

      
        
          
            	 	Absolute Partners Master Fund Limited	 
	 	 	 	 
	

                  	
                    By: 

                  	/s/ Henry Li 	 
	 	 	Name:	Henry Li	 
	 	 	Title:	Director	 

          

        

        
          

          

          

          

          

          

        

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      

      

      
        
          

          

          
            	 	
                    Arch Venture Fund IX Overage, L.P.

                     

                    By: ARCH Venture Partners IX Overage, L.P.

                    Its: General Partner

                     

                    By: ARCH Venture Partners IX, LLC

                    Its: General Partner

                  	 
	 	 	 	 
	

                  	
                    By: 

                  	
                    /s/ Mark McDonnell

                  	 
	 	 	Name:	
                    Mark McDonnell

                  	 
	 	 	Title:	
                    Managing Director

                  	 

          

        

        

        

        
          
            

            

            
              	 	
                      Arch Venture Fund VIII, L.P.

                       

                      By: ARCH Venture Partners VIII, L.P.

                      Its: General Partner

                       

                      By: ARCH Venture Partners VIII, LLC

                      Its: General Partner

                    	 
	 	 	 	 
	

                    	
                      By: 

                    	/s/ Mark McDonnell 	 
	 	 	Name:	
                      Mark McDonnell

                    	 
	 	 	Title:	
                      Managing Director

                    	 

            

          

          

          

        

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      

      

      
        

        

        
          
            
              	 	 	 	 
	

                    	
                       

                    	/s/ Hal Barron 	 
	 	 	Hal Barron	 
	 	 	

                    	

                    	 

            

          

          
            

            

          

        

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      

      

      
        
          
            	 	Biomatics Capital Partners, L.P.	 
	 	 	 	 
	

                  	
                    By: 

                  	/s/ Boris Nikolic 	 
	 	 	Name:	Boris Nikolic 	 
	 	 	Title:	Managing Director 	 

          

        

        
          

          

        

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      

      

      
        
          

          

          
            
              
                	 	 	 	 
	

                      	
                         

                      	/s/ Hans Bishop 	 
	 	 	Hans Bishop	 
	 	 	

                      	

                      	 

              

            

            
              

              

            

          

        

        

        

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      

      

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        

        

        
          
            
              	 	Bristol-Myers Squibb Company	 
	 	 	 	 
	

                    	
                      By: 

                    	s/ David Elkins 	 
	 	 	Name:	David Elkins	 
	 	 	Title:	Executive Vice President & CFO	 

            

          

          
            

            

          

        

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

       

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            

            

            
              
                
                  	 	 	 	 
	

                        	
                           

                        	/s/ Brook Byers 	 
	 	 	Brook Byers	 
	 	 	

                        	

                        	 

                

              

              
                

                

              

            

          

          

          

        

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

       

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          

          

          
            
              
                	 	Celgene Switzerland LLC	 
	 	 	 	 
	

                      	
                        By: 

                      	s/ David Elkins 	 
	 	 	Name:	David Elkins	 
	 	 	Title:	Executive Vice President & CFO	 

              

            

            
              

              

            

          

        

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            

            

            
              
                
                  	 	Creekstone Investment, LLC	 
	 	 	 	 
	

                        	
                          By: 

                        	/s/ Paul dauber 	 
	 	 	Name:	Paul Dauber	 
	 	 	Title:	Manager

                        	 

                

              

              
                

                

              

            

          

        

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      

      

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            

            

            
              
                
                  	 	
                          Decheng Capital China Life Sciences USD Fund I, L.P.

                           

                          By its General Partner, Decheng Capital China Management I (Cayman)

                        	 
	 	 	 	 
	

                        	
                          By: 

                        	/s/ Xiangmin Cui 	 
	 	 	Name:	Xiangmin Cui	 
	 	 	Title:	Managing Director	 

                

              

              
                

                

              

            

          

        

        
          
            
              
                
                  
                    

                    

                    
                      
                        
                          	 	
                                  
                                    Decheng Capital China Life Sciences USD Fund II, L.P.
                                      (as stockholder, and as Proxyholder for Denlux Diagnostics Invest Inc. and Denlux Capital Inc.)

                                      

                                    

                                      

                                    By its General Partner,

                                     
                                    Decheng Capital China Management II (Cayman)

                                  

                                	 
	 	 	 	 
	

                                	
                                  By: 

                                	/s/ Xiangmin Cui 	 
	 	 	Name:	Xiangmin Cui	 
	 	 	Title:	Managing Director	 

                        

                      

                      
                        

                        

                        

                        

                        

                        

                        

                        

                      

                    

                  

                

              

            

          

        

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            
              

              

              
                
                  
                    	 	Deepbay Holdings Ltd.	 
	 	 	 	 
	

                          	
                            By: 

                          	/s/ Alexander West 	 
	 	 	Name:	Alexander West	 
	 	 	Title:	Director	 

                  

                

                
                  

                  

                

              

            

          

        

        

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        

        

        
          
            
              	 	Denlux Capital Inc.	 
	 	 	 	 
	

                    	
                      By: 

                    	/s/ Xiangmin Cui 	 
	 	 	Name:	Xiangmin Cui	 
	 	 	Title:	Managing Director	 

            

          

        

      

      

      

      
        
          
            
              	 	Denlux Diagnostics Invest Inc.	 
	 	 	 	 
	

                    	
                      By: 

                    	/s/ Xiangmin Cui 	 
	 	 	Name:	Xiangmin Cui	 
	 	 	Title:	Managing Director	 

            

          

        

      

      

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        

        

        
          
            
              
                	 	The Duane Family Trust	 
	 	 	 	 
	

                      	
                        By: 

                      	/s/ Cathy Friedman 	 
	 	 	Name:	Cathy Friedman	 
	 	 	Title:	Trustee	 

              

            

          

        

        

        

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          

          

          
            
              
                
                  	 	Explore Investments LLC	 
	 	 	 	 
	

                        	
                          By: 

                        	/s/ Paul Dauber 	 
	 	 	Name:	Paul Dauber	 
	 	 	Title:	Manager

                        	 

                

              

            

          

          

          

        

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          

          

          
            
              
                	 	 	 	 
	

                      	
                         

                      	/s/ Kaye Foster 	 
	 	 	Kaye Foster	 
	 	 	

                      	

                      	 

              

            

            
              

              

            

          

        

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

       

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            

            

            
              
                
                  	 	 	 	 
	

                        	
                           

                        	/s/ Cathy Friedman 	 
	 	 	Cathy Friedman	 
	 	 	

                        	

                        	 

                

              

              
                

                

              

            

          

        

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            
              

              

              
                
                  
                    	 	 	 	 
	

                          	
                             

                          	/s/ Maykin Ho 	 
	 	 	Maykin Ho	 
	 	 	

                          	

                          	 

                  

                

              

            

          

        

        

        

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

       

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          

          

          
            
              
                
                  	 	Huber Family QTIP Trust U/A/D 09/19/2012	 
	 	 	 	 
	

                        	
                          By: 

                        	/s/ Jeff Huber  	 
	 	 	Name:	Jeff Huber	 
	 	 	Title:	Manager

                        	 

                

              

            

          

          

          

        

      

      
        
          
            
              
                
                  
                    	 	
                            Huber Vossough 2020 GRAT U/A/D 08/18//2020

                          	 
	 	 	 	 
	

                          	
                            By: 

                          	/s/ Jeff Huber  	 
	 	 	Name:	Jeff Huber	 
	 	 	Title:	Manager

                          	 

                  

                

              

            

            

            

          

        

        
          
            
              
                
                  
                    
                      	 	
                              
                                Huber Family QTIP Trust U/A/D 09/19/2012

                              

                            	 
	 	 	 	 
	

                            	
                              By: 

                            	/s/ Jeff Huber  	 
	 	 	Name:	Jeff Huber	 
	 	 	Title:	Manager

                            	 

                    

                  

                

              

              

              

            

          

          
            
              
                
                  
                    
                      
                        	 	
                                 The Jeffrey T. Huber 2018 Grantor Retained Annuity Trust U/A/D 3/12/2018

                              	 
	 	 	 	 
	

                              	
                                By: 

                              	/s/ Jeff Huber  	 
	 	 	Name:	Jeff Huber	 
	 	 	Title:	Manager

                              	 

                      

                    

                  

                

                

                

                

                

              

            

          

        

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            

            

          

        

        
          
            
              
                
                  
                    
                      	 	
                               Illumina, Inc.

                            	 
	 	 	 	 
	

                            	
                              By: 

                            	/s/ Francis deSouza	 
	 	 	Name:	Francis deSouza	 
	 	 	Title:	President & CEO	 

                    

                  

                

              

              

              

            

          

        

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            
              

              

            

          

          
            
              
                
                  
                    
                      
                        	 	
                                 Johnson & Johnson UK Treasury Company Limited

                              	 
	 	 	 	 
	

                              	
                                By: 

                              	/s/ Luc Freyne	 
	 	 	Name:	Luc Freyne	 
	 	 	Title:	Director

                              	 

                      

                    

                  

                

                

                

                

              

            

          

        

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            
              

              

              
                
                  
                    	 	 	 	 
	

                          	
                             

                          	/s/ Kwan Chee Chan 	 
	 	 	Kwan Chee Chan

                          	 
	 	 	

                          	

                          	 

                  

                

                
                  

                  

                

              

            

          

        

        

        

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            
              

              

            

          

          
            
              
                
                  
                    
                      
                        	 	
                                Madrone Opportunity Fund, L.P.

                                 

                                 
                                By: Madrone Capital Partners, LLC

                                 
                                Its: General Partner

                              	 
	 	 	 	 
	

                              	
                                By: 

                              	/s/ Greg Penner	 
	 	 	Name:	Greg Penner	 
	 	 	Title:	Manager

                              	 

                      

                    

                  

                

                

              

            

          

        

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

       

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            

            

          

        

        
          
            
              
                
                  
                    
                      	 	Merck Sharp & Dohme Corp.	 
	 	 	 	 
	

                            	
                              By: 

                            	/s/ Benjamin Thorner	 
	 	 	Name:	Benjamin Thorner	 
	 	 	Title:	SVP & Head of BD&L, MRL	 

                    

                  

                

              

            

          

        

      

      

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

       

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            
              

              

            

          

          
            
              
                
                  
                    
                      
                        	 	Milky Way Investments Group Limited	 
	 	 	 	 
	

                              	
                                By: 

                              	/s/ Despoina Zinonos	 
	 	 	Name:	Despoina Zinonos	 
	 	 	Title:	President	 

                      

                    

                  

                

              

            

          

        

        

        

        

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            
              

              

            

          

          
            
              
                
                  
                    
                      
                        	 	Rainbow Horizon Limited	 
	 	 	 	 
	

                              	
                                By: 

                              	/s/ Jackson Law	 
	 	 	Name:	Jackson Law	 
	 	 	Title:	Managing Partner	 

                      

                    

                  

                

              

            

          

        

        

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            
              
                

                

                
                  
                    
                      	 	 	 	 
	

                            	
                               

                            	
                              /s/ William Rastetter

                            	 
	 	 	
                              William Rastetter

                            	 
	 	 	

                            	

                            	 

                    

                  

                  
                    
                      
                        
                          
                            
                              

                              

                            

                          

                          
                            
                              
                                
                                  
                                    
                                      
                                        	 	
                                                The Rastetter Family Trust DTD Sept. 2, 2010, William and Marisa Rastetter, Trustees

                                              	 
	 	 	 	 
	

                                              	
                                                By: 

                                              	/s/ William
                                                  Rastetter	 
	 	 	Name:	
                                                William Rastetter

                                              	 
	 	 	Title:	Trustee

                                              	 

                                      

                                    

                                  

                                

                              

                            

                          

                        

                        

                      

                      
                        	

                              	
                                By: 

                              	
                                /s/ Marisa Rastetter

                              	 
	 	 	Name:	
                                Marisa Rastetter

                              	 
	 	 	Title:	Trustee

                              	 

                      

                    

                  

                

              

            

          

          

          

        

      

      
        
          
            
              
                
                  
                    
                      
                        
                          	 	
                                  The Investment 2002 Trust dated November 11, 2002

                                	 
	 	 	 	 
	

                                	
                                  By: 

                                	
                                  /s/ William Rastetter

                                	 
	 	 	Name:	
                                  William Rastetter

                                	 
	 	 	Title:	
                                  Chairman, Neurocrine

                                	 

                        

                      

                    

                  

                

              

            

          

          

        

        

        

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        
          
            
              

              

            

          

          
            
              
                
                  
                    
                      
                        	 	
                                
                                  Sutter Hill Associates, LLC, a California limited liability company

                                

                              	 
	 	 	 	 
	

                              	
                                By: 

                              	
                                /s/ Jeff Bird

                              	 
	 	 	Name:	
                                Jeff Bird

                                

                              	 
	 	 	Title:	
                                Managing Director, Sutter Hill Ventures

                              	 

                      

                    

                  

                

              

            

          

        

      

      

      

      
        
          
            
              
                
                  
                    
                      
                        
                          	 	
                                  
                                    
                                      Sutter Hill Ventures, a California Limited Partnership

                                    

                                  

                                	 
	 	 	 	 
	

                                	
                                  By: 

                                	
                                  /s/ Jeff Bird

                                	 
	 	 	Name:	
                                  Jeff Bird

                                  

                                	 
	 	 	Title:	
                                  Managing Director, Sutter Hill Ventures

                                	 

                        

                      

                    

                  

                

              

            

          

        

        

        

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

      
        

        

        
          
            
              	 	 	 	 
	

                    	
                       

                    	/s/ Wai Kwun Rossa Chiu 	 
	 	 	Wai Kwun Rossa Chiu	 
	 	 	

                    	

                    	 

            

          

        

      

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

      
        
          

      

      

      

      IN WITNESS WHEREOF, the undersigned have executed and caused to be effective this Agreement as of the date first written above.

       

      

      
        	 	Waycross Ventures, LLC	 
	 	 	 	 
	

              	
                By: 

              	/s/ Brook Byers	 
	 	 	Name:	Brook Byers	 
	 	 	Title:	Managing Partner	 

      

      

      

      

      

      

      

      

      

      

      

      Schedule 1(b)

      

      

      

      

      

      

      

      

      

      

      [Selling Investor Signature Page to Selling Investor Support Agreement]

    

    
      
        

    

    

    

    Schedule 1(b)

    

    

    

    

    

    

    	
            Selling Investor

          	
            Class A 

            Common 

            Stock

          	
            Class B

             Common 

            Stock

          	
            Series A 

            Preferred 

            Stock

          	
            Series B 

            Preferred 

            Stock

          	
            Series C 

            Preferred 

            Stock

          	
            Series D 

            Preferred 

            Stock

          	
            Restricted 

            Stock Units

          	
            Company 

            Stock 

            Options

          
	 	 	 	 	 	 	 	 	 

    

    

    

    

    

    

    
      
        

    

    Exhibit A

    

    

    [Form of] Written Consent

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00314-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00314-of-00352.parquet"}]]