Document:

EX-10.1

  

Exhibit 10.1 
 AMENDED
AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT 

Dated as April 24, 2015 

among 
 SPRINT SPECTRUM L.P.,

 individually and as Servicer, 

THE PERSONS PARTY HERETO AS SELLERS, 

as Sellers, 
 THE VARIOUS
CONDUIT PURCHASERS, COMMITTED PURCHASERS, AND PURCHASER AGENTS FROM TIME TO TIME PARTY HERETO, 
 MIZUHO BANK,
LTD., 
 as Collateral Agent, 

THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH, 

as Administrative Agent, 
 and

 MIZUHO BANK, LTD., 

as Administrative Agent 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 ARTICLE I PURCHASES AND REINVESTMENTS
	  	 	1	  
			
	 SECTION 1.1
	 	 Purchases; Limits on Purchasers’ Obligations.
	  	 	1	  
			
	 SECTION 1.2
	 	 Purchase Procedures; Assignment of the Sellers’ Interests.
	  	 	2	  
			
	 SECTION 1.3
	 	 Reinvestments of Certain Collections; Payment of Remaining Collections; Asset Portfolios.
	  	 	8	  
			
	 SECTION 1.4
	 	 Repurchase of Certain Receivables.
	  	 	12	  
			
	 SECTION 1.5
	 	 Sellers Jointly and Severally Liable for Obligations.
	  	 	13	  
		
	 ARTICLE II COMPUTATIONAL RULES
	  	 	16	  
			
	 SECTION 2.1
	 	 Selection of Rate Tranches.
	  	 	16	  
			
	 SECTION 2.2
	 	 Computation of each Purchaser’s Investment and each Purchaser’s Tranche Investment.
	  	 	17	  
			
	 SECTION 2.3
	 	 Computation of Yield.
	  	 	18	  
			
	 SECTION 2.4
	 	 Estimates of Yield Rate, Fees, Etc.
	  	 	18	  
		
	 ARTICLE III SETTLEMENTS
	  	 	18	  
			
	 SECTION 3.1
	 	 Settlement Procedures.
	  	 	18	  
			
	 SECTION 3.2
	 	 Deemed Collections; Reduction of Purchasers’ Total Investment, Etc.
	  	 	23	  
			
	 SECTION 3.3
	 	 Payments and Computations, Etc.
	  	 	26	  
			
	 SECTION 3.4
	 	 Treatment of Collections and Deemed Collections.
	  	 	31	  
			
	 SECTION 3.5
	 	 Extension of the Purchase Termination Date.
	  	 	31	  
		
	 ARTICLE IV FEES AND YIELD PROTECTION
	  	 	32	  
			
	 SECTION 4.1
	 	 Fees.
	  	 	32	  
			
	 SECTION 4.2
	 	 Yield Protection.
	  	 	32	  
			
	 SECTION 4.3
	 	 Funding Losses.
	  	 	34	  
			
	 SECTION 4.4
	 	 Removal of Purchasers.
	  	 	35	  
			
	 SECTION 4.5
	 	 Non-Reinvestment Events.
	  	 	36	  
		
	 ARTICLE V CONDITIONS OF PURCHASES
	  	 	37	  
			
	 SECTION 5.1
	 	 Conditions Precedent to Effectiveness.
	  	 	37	  
			
	 SECTION 5.2
	 	 Conditions Precedent to All Purchases and Reinvestments.
	  	 	39	  
		
	 ARTICLE VI REPRESENTATIONS AND WARRANTIES
	  	 	40	  
			
	 SECTION 6.1
	 	 Representations and Warranties of the Sellers.
	  	 	40	  
			
	 SECTION 6.2
	 	 Representations and Warranties of Sprint Spectrum.
	  	 	44	  

  
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 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
		
	 ARTICLE VII GENERAL COVENANTS OF SELLERS AND SERVICER
	  	 	48	  
			
	 SECTION 7.1
	 	 Affirmative Covenants of the Sellers.
	  	 	48	  
			
	 SECTION 7.2
	 	 Reporting Requirements of the Sellers.
	  	 	51	  
			
	 SECTION 7.3
	 	 Negative Covenants of the Sellers.
	  	 	52	  
			
	 SECTION 7.4
	 	 Affirmative Covenants of Sprint Spectrum.
	  	 	55	  
			
	 SECTION 7.5
	 	 Reporting Requirements of Sprint Spectrum.
	  	 	57	  
			
	 SECTION 7.6
	 	 Negative Covenants of Sprint Spectrum.
	  	 	60	  
			
	 SECTION 7.7
	 	 Nature of Obligations.
	  	 	62	  
			
	 SECTION 7.8
	 	 Corporate Separateness; Related Matters and Covenants.
	  	 	62	  
		
	 ARTICLE VIII ADMINISTRATION AND COLLECTION
	  	 	66	  
			
	 SECTION 8.1
	 	 Designation of the Servicer.
	  	 	66	  
			
	 SECTION 8.2
	 	 Duties of the Servicer.
	  	 	68	  
			
	 SECTION 8.3
	 	 Rights of the Collateral Agent.
	  	 	69	  
			
	 SECTION 8.4
	 	 Responsibilities of the Servicer.
	  	 	71	  
			
	 SECTION 8.5
	 	 Further Action Evidencing Purchases and Reinvestments.
	  	 	71	  
			
	 SECTION 8.6
	 	 Application of Collections.
	  	 	71	  
			
	 SECTION 8.7
	 	 Collections outside the Lockbox Accounts.
	  	 	71	  
			
	 SECTION 8.8
	 	 Clean-up Call.
	  	 	71	  
			
	 SECTION 8.9
	 	 ISC Cap Reserve Account; ISC Cap Pool Hold-Back Amount; Calculation Agents.
	  	 	72	  
		
	 ARTICLE IX SECURITY INTEREST
	  	 	73	  
			
	 SECTION 9.1
	 	 Grant of Security Interest.
	  	 	73	  
			
	 SECTION 9.2
	 	 Remedies; Waiver.
	  	 	74	  
		
	 ARTICLE X EVENTS OF TERMINATION
	  	 	75	  
			
	 SECTION 10.1
	 	 Events of Termination.
	  	 	75	  
		
	 ARTICLE XI PURCHASER AGENTS; COLLATERAL AGENT; ADMINISTRATIVE AGENTS; CERTAIN RELATED MATTERS
	  	 	77	  
			
	 SECTION 11.1
	 	 Limited Liability of Purchasers, Purchaser Agents, Collateral Agent and the Administrative Agents.
	  	 	77	  
			
	 SECTION 11.2
	 	 Authorization and Action of each Purchaser Agent.
	  	 	77	  

  
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 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
			
	 SECTION 11.3
	 	 Authorization and Action of each Administrative Agent and Collateral Agent.
	  	 	78	  
			
	 SECTION 11.4
	 	 Delegation of Duties of each Purchaser Agent.
	  	 	78	  
			
	 SECTION 11.5
	 	 Delegation of Duties of each Administrative Agent and the Collateral Agent.
	  	 	78	  
			
	 SECTION 11.6
	 	 Successor Administrative Agent and Collateral Agent.
	  	 	78	  
			
	 SECTION 11.7
	 	 Indemnification.
	  	 	79	  
			
	 SECTION 11.8
	 	 Reliance, etc.
	  	 	79	  
			
	 SECTION 11.9
	 	 Purchasers and Affiliates.
	  	 	80	  
			
	 SECTION 11.10
	 	 Sharing of Recoveries.
	  	 	80	  
			
	 SECTION 11.11
	 	 Non-Reliance.
	  	 	80	  
		
	 ARTICLE XII INDEMNIFICATION
	  	 	81	  
			
	 SECTION 12.1
	 	 Indemnities by the Sellers.
	  	 	81	  
			
	 SECTION 12.2
	 	 Indemnity by the Servicer.
	  	 	83	  
		
	 ARTICLE XIII MISCELLANEOUS
	  	 	83	  
			
	 SECTION 13.1
	 	 Amendments, Etc.
	  	 	83	  
			
	 SECTION 13.2
	 	 Notices, Etc.
	  	 	84	  
			
	 SECTION 13.3
	 	 Successors and Assigns; Participations; Assignments.
	  	 	84	  
			
	 SECTION 13.4
	 	 No Waiver; Remedies; Set-Off.
	  	 	87	  
			
	 SECTION 13.5
	 	 Binding Effect; Survival.
	  	 	87	  
			
	 SECTION 13.6
	 	 Costs and Expenses.
	  	 	88	  
			
	 SECTION 13.7
	 	 No Proceedings.
	  	 	89	  
			
	 SECTION 13.8
	 	 Confidentiality.
	  	 	89	  
			
	 SECTION 13.9
	 	 Captions and Cross References.
	  	 	92	  
			
	 SECTION 13.10
	 	 Integration.
	  	 	92	  
			
	 SECTION 13.11
	 	 Governing Law.
	  	 	92	  
			
	 SECTION 13.12
	 	 Waiver of Jury Trial.
	  	 	93	  
			
	 SECTION 13.13
	 	 Consent to Jurisdiction; Waiver of Immunities.
	  	 	93	  
			
	 SECTION 13.14
	 	 Execution in Counterparts.
	  	 	93	  
			
	 SECTION 13.15
	 	 Pledge to a Federal Reserve Bank.
	  	 	94	  
			
	 SECTION 13.16
	 	 Severability.
	  	 	94	  

  
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 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
			
	 SECTION 13.17
	 	 No Party Deemed Drafter.
	  	 	94	  
			
	 SECTION 13.18
	 	 Excluded Originator.
	  	 	94	  
			
	 SECTION 13.19
	 	 Restatement; No Novation.
	  	 	95	  
			
	 SECTION 13.20
	 	 Sprint Financing.
	  	 	96	  

  

			
	APPENDIX A	  	Definitions
	SCHEDULE I	  	Payment Instructions
	SCHEDULE II	  	Related Originators and Related Sellers
	SCHEDULE III	  	Credit and Collection Policy
	SCHEDULE IV	  	Form of ISC Contract
	SCHEDULE V	  	ISC Advance Rate Matrix
	SCHEDULE VI	  	Form of Collection Account Agreement
	SCHEDULE VII	  	ISC Pool Commitments and SCC Pool Commitments
	SCHEDULE 1.2(a)	  	Purchase Notice
	SCHEDULE 3.2(b)	  	Paydown Notice
	SCHEDULE 6.1(l)	  	UCC Details
	SCHEDULE 6.1(m)	  	Lock-Box Information
	SCHEDULE 13.2	  	Addresses for Notices
	EXHIBIT 3.1(a)	  	Form of Information Package
	EXHIBIT 7.5	  	Form of Compliance Certificate

  
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 AMENDED AND RESTATED 

RECEIVABLES PURCHASE AGREEMENT 

This AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT dated as of April 24, 2015 (this “Agreement”), is entered into
by and among SPRINT SPECTRUM L.P., a Delaware limited partnership (“Sprint Spectrum”), individually and as Servicer, THE PERSONS IDENTIFIED ON THE SIGNATURE PAGES HERETO AS SELLERS (each a “Seller” and together, the
“Sellers”), the various CONDUIT PURCHASERS, COMMITTED PURCHASERS and PURCHASER AGENTS from time to time party hereto, THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH (“BTMUNY”), as SCC Administrative Agent
(as defined below), MIZUHO BANK, LTD., (“Mizuho”) as ISC Administrative Agent (as defined below), and Mizuho, as Collateral Agent (as defined below). 

B A C K G R O U N D: 

The Sellers, Sprint Spectrum, the Purchasers (as defined below), the Purchaser Agents (as defined below) and the SCC Administrative Agent have
entered into that certain Receivables Purchase Agreement dated as of May 16, 2014 (the “Original RPA”), pursuant to which, on the terms and conditions set forth therein, the Purchasers agreed to purchase SCC Receivables from
the Sellers. The parties hereto desire to amend and restate the Original RPA in order to, among other things, effect the sale by the Sellers of the ISC Receivables (as defined below) and the Purchase of such ISC Receivables by the ISC Administrative
Agent on behalf of the Purchasers as set forth herein and to effect the appointment of Mizuho, as Collateral Agent and ISC Administrative Agent. 

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

Capitalized terms used and not otherwise defined in this Agreement are used as defined in (or by reference in) Appendix A, and the
other interpretive provisions set out in Appendix A shall be applied in the interpretation of this Agreement. 
 ARTICLE I 

PURCHASES AND REINVESTMENTS 

SECTION 1.1 Purchases; Limits on Purchasers’ Obligations. Upon the terms and subject to the conditions of this Agreement,
any Seller (on behalf of all Sellers, or the Servicer on their behalf) may, from time to time prior to the Purchase Termination Date, request that the Purchasers (which in the case of the Conduit Purchasers, shall be in their sole discretion), make
purchases of SCC Pool Receivables and the Related Assets or to make purchases of ISC Pool Receivables and the Related Assets (each such purchase of SCC Pool Receivables or ISC Pool Receivables, as the case may be, whether made by a Conduit Purchaser
or a Committed Purchaser, a “Purchase”) and the Purchaser Agents on behalf of the Purchasers in their Purchaser Group in respect of each such Purchase shall make payments to the Sellers in its Ratable Share in 

  
 1 

 
respect thereof. The aggregate purchase price for the Purchase of each Pool Receivable and Related Assets in respect of a Receivable Pool shall be comprised of an initial purchase price (the
“Initial Cash Purchase Price”) and a deferred purchase price payable pursuant to Section 1.2(g) (the “RPA Deferred Purchase Price”). If any Conduit Purchaser is unwilling or unable for any reason to make
its Purchaser Group’s Ratable Share of any of the Initial Cash Purchase Price of any proposed Purchase in respect of a Receivable Pool, the Sellers shall be deemed to have automatically requested that the Committed Purchaser in such Conduit
Purchaser’s Purchaser Group make such Ratable Share of any such Purchase, in accordance with Section 1.2(b) in a cash amount equal to the lesser of: (i) the amount requested by the Sellers under Section 1.2(a) and
(ii) after giving effect to any other Purchases on such day, the largest amount that will not cause (a) the Purchasers’ Pool Investment in respect of such Receivable Pool to exceed the Purchasers’ Pool Commitment in respect of
such Receivable Pool, (b) the sum of the Purchasers’ Pool Investment and the Required Reserves in respect of such Receivable Pool to exceed the Net Portfolio Balance for such Receivable Pool or (c) the aggregate Investment of such
Purchaser’s Purchaser Group in respect of such Receivable Pool to exceed the Pool Commitment in respect of such Receivable Pool of the Committed Purchasers in such Purchaser Group; provided, that the aggregate Initial Cash Purchase Price
with respect to each Purchase made pursuant to this Section 1.1 relating to a Receivable Pool shall be an amount at least equal to $10,000,000 for any Purchase, and, in each case, in integral multiples of $100,000 in excess thereof. Each
Committed Purchaser shall, subject to the terms and conditions hereof, make its Purchaser Group’s Ratable Share of any Purchase in respect of a Receivable Pool deemed requested by the Sellers above (unless its related Conduit Purchaser is
making such Ratable Share of such Purchase), in such amount as would not cause its Purchaser Group Investment in respect of such Receivable Pool after giving effect to such Purchase (and any other Purchase to be made by such Purchaser Group on such
date) to exceed its Purchaser Group’s Commitment in respect of such Receivable Pool . At no time shall a Conduit Purchaser that is not a Committed Purchaser have any obligation or commitment to make any Purchase. Each Purchaser will also make
reinvestment Purchases in respect of each Receivable Pool (each such Purchase, a “Reinvestment”), in its Purchaser Group’s Ratable Share, as, and to the extent, described in Section 1.3. In respect of each Purchase
of Pool Receivables, the excess of (i) in respect of the Purchase of SCC Pool Receivables, the aggregate Unpaid Balances of such SCC Pool Receivables as of such Purchase Date and (ii) in respect of the Purchase of ISC Pool Receivables, the
aggregate Unpaid Balances of such ISC Pool Receivables as of such Purchase Date, over the Initial Cash Purchase Price (including a Reinvestment of Collections) in respect of such Purchase shall constitute the RPA Deferred Purchase Price payable with
respect to the Purchase of such Pool Receivables pursuant to Section 1.2(g). 
 SECTION 1.2 Purchase Procedures;
Assignment of the Sellers’ Interests. 
 (a) Notice of Purchase. Each Purchase of SCC Pool Receivables or ISC
Pool Receivables, as the case may be, shall be made on notice from any Seller or the Servicer (on behalf of all Sellers) to the applicable Administrative Agent not later than 11:00 a.m. (New York City time) on the third (3rd) Business Day preceding the date of such proposed Purchase and Purchases of SCC Pool Receivables and ISC Pool Receivables may be made in one notice to both Administrative Agents. Any such
notice of a proposed Purchase shall be in substantially the form of Schedule 1.2(a) hereto and shall specify (A) the desired amount and date of such proposed Purchase (which shall be a 

  
 2 

 
Business Day), (B) the amount of such proposed Purchase and (C) a pro forma calculation of the Net Portfolio Balance for the related Receivable Pool after giving effect to such
Purchase; provided, however, that, Sellers (and the Servicer on their behalf) shall not submit, and the Purchasers shall not be required to fund, more than six (6) Purchases per calendar month. If any Conduit Purchaser is willing
and able, in its sole discretion, to make its Purchaser Group’s Ratable Share of a Purchase requested of it pursuant to this Section 1.2(a) subject to the terms and conditions hereof, such Conduit Purchaser shall make such Purchase
by transferring such amount in accordance with clause (b) below on the requested Purchase Date. If any Conduit Purchaser is unwilling or unable for any reason to make its Purchaser Group’s Ratable Share of such Purchase, subject to
the terms and conditions hereof, the Committed Purchaser in such Conduit Purchaser’s Purchaser Group shall, subject to the terms and conditions hereof, make such Purchaser Group’s Ratable Share of such Purchase by transferring such amount
in accordance with clause (b) below on the requested Purchase Date. 
 Not later than noon (New York City time)
on the Business Day following its receipt of a Purchase notice in respect of Receivables of a Receivable Pool pursuant to the foregoing paragraph (it being understood that any such notice received by the applicable Administrative Agent after 11:00
a.m. (New York City time) shall be deemed to have been received on the following Business Day) the applicable Administrative Agent shall deliver a copy of such Purchase notice to each Purchaser Agent and the other Administrative Agent (or shall
advise each Purchaser Agent and the other Administrative Agent as to the contents thereof) and shall advise each Purchaser Agent of the amount of the requested Purchase to be funded by each Purchaser Group in accordance with each Purchaser
Group’s Ratable Share. 
 (b) Payment of Initial Cash Purchase Price. On the date of each Purchase hereunder in
respect of Receivables of a Receivable Pool (the “Purchase Date”) (or on the Delayed Purchase Date with respect to a Purchaser Group that has delivered a related Delayed Purchase Notification pursuant to Section 1.2(i)),
the applicable Purchasers shall, upon satisfaction of the applicable conditions set forth herein (including in Article V), pay their Purchaser Group’s Ratable Share of the aggregate Initial Cash Purchase Price with respect to such
Purchase in immediately available funds to the Sellers at the account of the Sellers specified on Schedule I or at such other account designated from time to time by the Servicer (on behalf of the Sellers) in a written notice to the
applicable Administrative Agent. The Initial Cash Purchase Price in respect of the Receivables relating to a Receivable Pool shall also be deemed to be paid to the Sellers for any Pool Receivable and Related Assets by the amounts of any Collections
in respect of such Receivable Pool applied as a Reinvestment in a new Pool Receivable and Related Assets in accordance with Section 1.3. The amount funded by the Purchasers in respect of each Purchase shall be allocated among the various
Sellers on the applicable Purchase Date ratably in proportion to the amounts of their respective Eligible Receivables funded thereby, as reasonably determined by the Servicer. The Servicer shall maintain such books of account and other records
adequate to make, evidence and record such allocations. 

  
 3 

 (c) Sale of Pool Receivables. On the date of each Purchase and
Reinvestment of Pool Receivables relating to a Receivable Pool hereunder, each Seller sells, assigns and transfers to the Collateral Agent (for the benefit of the Purchasers) (ratably, according to each Purchaser’s Investment), in consideration
of the aggregate Initial Cash Purchase Price and the RPA Deferred Purchase Price in respect of such Receivable Pool, as applicable, effective on and as of the date of each Purchase and Reinvestment, all of its right, title and interest in, to and
under (i) all Pool Receivables relating to each Receivable Pool, (ii) all Related Assets with respect to each Pool Receivable, (iii) all Collections with respect to such Pool Receivables, (iv) the Lock-Box Accounts and all
Collections relating to such Receivable Pool on deposit therein, and all certificates and instruments, if any, from time to time evidencing such Lock-Box Accounts and amounts on deposit therein, (v) all rights (but none of the obligations) of
the Sellers under the Sale Agreement relating to each Receivable Pool, and (vi) all proceeds of, and all amounts received or receivable under any or all of the foregoing (with respect to each Receivable Pool, an “Asset
Portfolio”). 
 (d) Characterization as a Purchase and Sale; Recharacterization. (i) It is the intention
of the parties to this Agreement that the transfer and conveyance of each Seller’s right, title and interest in, to and under each Asset Portfolio to the Collateral Agent (for the benefit of the Purchasers) pursuant to this Agreement shall
constitute a purchase and sale and not a pledge for security, and such purchase and sale of the Asset Portfolios to the Collateral Agent (for the benefit of the Purchasers) hereunder shall be treated as a sale for all purposes (except as may be
permitted for tax purposes as provided in Section 1.2(d)(ii)). The provisions of this Agreement and the other Transaction Documents shall be construed to further these intentions of the parties. If, notwithstanding the foregoing, the
transfer and conveyance of any Asset Portfolio to the Collateral Agent (for the benefit of the Purchasers) is characterized by any bankruptcy trustee or any other Person as a pledge and not a sale, the parties intend that each Seller shall be deemed
hereunder to have granted, and each Seller does hereby grant, to the Collateral Agent (for the benefit of the Purchasers) a security interest in and general lien on all of such Seller’s right, title and interest now or hereafter existing in, to
and under all of such Seller’s assets, whether now owned or hereafter acquired, and wherever located (whether or not in the possession or control of such Seller), including all of such Seller’s right, title and interest in, to and under
such Asset Portfolio. For the avoidance of doubt, the foregoing is in addition to, and shall not be construed to limit, Section 9.1 or the Sellers’ grants of security interests thereunder. 

(ii) Tax Treatment. 

(A) It is the intention of the Sellers (or, if applicable, the Originators), the Servicer, the Administrative Agents and the
Purchasers that, for purposes of U.S. federal income tax and state and local taxes measured by net income, each Purchase and Reinvestment will be treated as a loan from the applicable Purchaser to the applicable Originator or Seller, as the case may
be under applicable tax laws (it being understood that all payments to the Purchasers, in their capacity as such, representing Yield, fees and other amounts accrued under this Agreement or the other Transaction Documents shall be deemed to
constitute interest payments 

  
 4 

 
or other payments in connection with such loan), and none of the Sellers (or, if applicable, the Originators), the Servicer, any Administrative Agent, the Collateral Agent nor the Purchasers
shall take any position inconsistent therewith for such tax purposes, unless otherwise required by applicable laws as confirmed in the opinion of nationally recognized tax counsel and the person taking any such inconsistent position provides written
advance notice to the other Affected Parties of such change in position, it being understood that the parties to this Agreement will otherwise defend in good faith such agreed-upon position prior to such change in position. 

(B) The Servicer and each Seller, by entering into this Agreement, and the Purchasers, by funding the Purchase of the Asset
Portfolios and any Reinvestment, agree to treat the Purchase of the Asset Portfolios and any Reinvestment, for purposes of U.S. federal income tax and state and local taxes measured by net income, and for state and local sales and other
transactional tax purposes, as creating indebtedness secured by the Asset Portfolios. Accordingly, the Sellers (or, if applicable, the Originators), rather than the Collateral Agent, the Administrative Agents, the Purchasers or any other Affected
Party, shall be entitled to and shall retain the benefit of (1) any bad debt deduction for written-off receivables for purposes of U.S. federal income tax and state and local taxes measured by net income and (2) any deduction, credit or
refund with respect to state and local sales and other transactional taxes paid or collected and remitted to the appropriate Governmental Authority on written-off receivables. The provisions of this Agreement and all related Transaction Documents
shall be construed to further these intentions of the parties. 
 (e) Purchasers Limitation on Payments.
Notwithstanding any provision contained in this Agreement or any other Transaction Document to the contrary, none of the Purchasers, Purchaser Agents, the Collateral Agent or the Administrative Agents shall be obligated (whether on behalf of a
Purchaser or otherwise) to, pay any amount to any Seller as a Reinvestment under Section 1.3 or in respect of any portion of the RPA Deferred Purchase Price relating to any Receivable Pool, except to the extent that Collections in
respect of the applicable Receivable Pool are available for distribution to the Sellers for such purpose in accordance with this Agreement. In addition, notwithstanding anything to the contrary contained in this Agreement or any other Transaction
Document, the obligations of any Purchaser that is a commercial paper conduit or similar vehicle under this Agreement and all other Transaction Documents shall be payable by such Purchaser solely to the extent of funds received from the Sellers in
accordance herewith or from any party to any Transaction Document in accordance with the terms thereof in excess of funds necessary to pay such Person’s matured and maturing Commercial Paper Notes or other senior indebtedness when due. Any
amount which an Administrative Agent, the Collateral Agent, a Purchaser Agent or a Purchaser is not obligated to pay pursuant to the operation of the two preceding sentences shall not constitute a claim (as defined in § 101 of the Bankruptcy
Code) against, or corporate obligation of, any Purchaser Agent, the Collateral Agent, any Purchaser or any Administrative Agent, as applicable, for any such insufficiency unless and until such amount becomes available for distribution to the Sellers
pursuant to the terms hereof. 

  
 5 

 (f) Obligations Not Assumed. The foregoing sale, assignment, transfer and
conveyance does not constitute, and is not intended to result in, the creation or an assumption by any Administrative Agent, any Purchaser Agent, the Collateral Agent or any Purchaser of any obligation or liability of any Seller, any Originator, the
Servicer, or any other Person under or in connection with all, or any portion of, any Asset Portfolio, all of which shall remain the obligations and liabilities of the Sellers, Originators, the Servicer and such other Persons, as applicable. 

(g) RPA Deferred Purchase Price. In accordance with the terms of this Agreement, the Servicer shall, on behalf of the
Collateral Agent, the applicable Administrative Agent, and each Purchaser, be deemed to automatically and immediately pay to the Sellers the RPA Deferred Purchase Price relating to each Receivable Pool from time to time (i) prior to the Final
Payout Date, when and to the extent funds are available therefor pursuant to Section 1.3 and (ii) after the Final Payout Date, on each Business Day from Collections received in respect of such Receivable Pool to the extent such
Collections exceed the accrued and unpaid Servicing Fee, in each case without further set-off or counterclaim. Any payment of any amount of RPA Deferred Purchase Price shall be deemed to be made by each Purchaser Group according to its Ratable Share
of such amount. Collections in respect of a Receivable Pool remitted to the Sellers in payment of the RPA Deferred Purchase Price in respect of a Receivable Pool hereunder shall be allocated among the various Sellers ratably in proportion to the
amounts of their respective Eligible Receivables relating to such Receivable Pool funded thereby, as reasonably determined by the Servicer. The Servicer shall maintain such books of account and other records adequate to make, evidence and record
such allocations. 
 (h) Obligations. Each Committed Purchaser’s obligations hereunder shall be several, such
that the failure of any Committed Purchaser to make a payment in connection with any Purchase hereunder, shall not relieve any other Committed Purchaser of its obligations hereunder to make payment for any Purchase. 

(i) Delayed Funding. Notwithstanding anything to the contrary in this Agreement, at any time after any Seller delivers a
Purchase notice in respect of a Receivable Pool pursuant to Section 1.2(a), and prior to the Purchase Date requested thereby, any Purchaser Agent (on behalf of the Purchasers in its Purchaser Group) that has delivered the certifications
set forth in the following paragraph may notify the applicable Administrative Agent, each Purchaser Agent and the Servicer and the Sellers in writing (such notice, a “Delayed Purchase Notification”) of its Purchaser Group’s
intention to fund all or any portion of its Ratable Share of such Purchase on the Delayed Purchase Date rather than on the requested Purchase Date. If any Purchaser Agent so delivers a Delayed Purchase Notification with respect to a requested
Purchase Date, no Purchaser shall be obligated to, or shall, fund the related Purchase (or such Purchaser’s portion thereof) until the applicable Delayed Purchase Date, and the Sellers may (i) not later than three (3) Business Days
prior to such Delayed Purchase Date, deliver an updated Purchase notice to the applicable Administrative Agent in accordance with Section 1.2(a) specifying the information set forth in clauses (A) through
(C) thereof with respect to such Delayed Purchase Date, and such Delayed Purchase Date shall constitute a Purchase Date for all purposes hereof or (ii) at any time prior to the third
(3rd) Business 

  
 6 

 
Day preceding the Delayed Purchase Date, rescind the Purchase notice partially or in its entirety (and if partially, pro rata among the Purchaser Groups in accordance with the terms of this
Agreement and the amount of such partial reduction shall be an amount at least equal to $10,000,000 for any Purchase and in integral multiples of $100,000 in excess thereof). In the event the Sellers comply with clause (i) above
following any Delayed Purchase Notification, all Purchaser Groups shall fund their respective portions of the applicable Purchase on the applicable Delayed Purchase Date (rather than on the Sellers’ originally requested Purchase Date) so long
as all conditions precedent to Purchases set forth herein are satisfied on such Delayed Purchase Date. 
 If any Purchaser
Agent delivers a Delayed Purchase Notification pursuant to this Section 1.2(i), such Purchaser Agent shall (i) concurrently with such delivery, deliver to the applicable Administrative Agent, each Purchaser Agent and the Sellers a
certification by such Purchaser Agent or the Committed Purchaser in its Purchaser Group certifying that such Committed Purchaser intends to take similar action in other substantially similar purchase or financing arrangements (which are subject to
comparable funding levels) in which it is involved in a correlative role, and (ii) not less than 60 days prior to delivering its first Delayed Purchase Notification hereunder, deliver to the applicable Administrative Agent, each Purchaser Agent
and the Servicer (on behalf of the Sellers) a certification by such Purchaser Agent or the Committed Purchaser in its Purchaser Group certifying that (x) such Committed Purchaser (or its holding company) is required to comply with a
“liquidity coverage ratio” (including as set forth in “Basel III” or as “Basel III” or portions thereof may be adopted in any particular jurisdiction) which negatively impacts such Committed Purchaser’s (or its
holding company’s) capital requirements for holding interests or obligations hereunder and (y) implementing the delayed funding mechanics provided in this Section reduces the negative impact on such “liquidity coverage ratio” on
such Committed Purchaser’s (or its holding company’s) regulatory capital requirements. The Administrative Agents, the Purchaser Agents, the Purchasers and the Sellers may, without incurring any liability to any party hereto or any other
Person, rely and act upon the foregoing certifications and any related Delayed Purchase Notification without further investigation or inquiry. Notwithstanding anything to the contrary in this Agreement, for the avoidance of doubt, the parties hereto
hereby agree that this Section 1.2(i) and the delayed funding mechanism described herein shall not apply to Reinvestments permitted hereunder. 

(j) Upgrade Program. To the extent an ISC Contract evidencing an ISC Upgrade Receivable permits the Obligor to terminate
the ISC Contract upon the trade-in of a qualifying device (the “Surrendered Device”) in accordance with the Upgrade Program, then, notwithstanding any other provision of, or failure to satisfy any condition under, the Transaction
Documents (but only so long as no Event of Termination has occurred and is continuing), upon receipt of such Surrendered Device, the Servicer, on behalf of the Purchasers, shall deliver such Surrendered Device to or at the direction of the
applicable Seller (whereupon the applicable Seller may distribute or otherwise transfer such Surrendered Device to the applicable Originator or another Affiliate) and such delivery shall fulfill both the Surrendered Device Return Requirement
attributable to such ISC Upgrade Receivable and the obligation of the ISC Administrative Agent on behalf of the Purchasers to pay the ISC Conditional DPP relating to such ISC Upgrade Receivable. 

  
 7 

 SECTION 1.3 Reinvestments of Certain Collections; Payment of Remaining Collections;
Asset Portfolios. 
 (a) On the close of business on each Business Day during the period from the Closing Date, with
respect to the SCC Receivable Pool and the Restatement Effective Date, with respect to the ISC Receivable Pool, to the Final Payout Date, the Servicer shall in respect of each Receivable Pool out of all Collections from Pool Receivables relating to
such Receivable Pool received (or deemed received) since the end of the immediately preceding Business Day: 
 (i) set aside
and hold in trust for the applicable Administrative Agent on behalf of each Purchaser Group, an amount (the “Pool Hold-Back Amount”) (based on information provided by such Administrative Agent pursuant to Article II) equal to
the sum of: (a) the estimated amount of aggregate Yield accrued in respect of each Rate Tranche relating to such Receivable Pool, (b) all other Obligations payable to the Administrative Agents, the Collateral Agent, Purchaser Agents,
Purchasers or any other Affected Party hereunder which have been allocated by the Servicer to such Receivable Pool pursuant to Section 8.2(a) and (c) the estimated amount of such Receivable Pool’s Pro Rata Share of the
Servicing Fee (in each case, accrued through such day and not so previously set aside or anticipated to accrue through the end of the then current Settlement Period, as determined by the Servicer based upon, among other relevant information, the
then outstanding Purchasers’ Pool Investment and the Yield Rates then in effect in respect of such Receivable Pool), and (d) in respect of the ISC Receivable Pool, an amount equal to the then current Estimated ISC Cap Deficiency Amount,
and prior to the time that an amount equal to the ISC Cap Reserve Amount has been remitted to the ISC Cap Reserve Account following the Cap Account Trigger Date pursuant to Section 8.9(b), an amount equal to the ISC Cap Reserve Amount;
provided, that the Servicer shall not be required to hold Collections relating to any Receivable Pool that have been so set aside in a separate deposit account containing only such Collections, and may commingle such Collections with its own
funds, so long as the Servicer is able, on each Business Day and on an equitable and consistent basis, to identify which funds are Collections relating to each such Receivable Pool; it being understood that the Collateral Agent and applicable
Administrative Agent, on behalf of Purchasers, shall have a claim against the Servicer to make payments pursuant to Sections 1.3(c), 3.1(b) or 3.1(d) in respect of a Receivable Pool (which claims shall be full recourse to the
Servicer) in an amount equal to the amount of such Collections relating to such Receivable Pool that have not been set aside but that have been so commingled; provided further, that the Servicer shall hold Collections that have been so
set aside in a separate deposit account containing only such Collections if the Collateral Agent or any Administrative Agent has requested that the Servicer not commingle funds during the continuance of any Specified Unmatured Event, Event of
Termination, Collection Control Event or Non-Reinvestment Event; and 

  
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 (ii) subject to Sections 3.1(b), 3.1(c)(iv), 3.1(d),
3.2(a) and 3.2(b), apply such Collections in excess of the Pool Hold-Back Amount relating to such Receivable Pool which are not required to be set aside and held in trust pursuant to clause (i) above (including any such
Collections not set aside but commingled), to make Reinvestments in additional Pool Receivables and Related Assets relating to such Receivable Pool and, to the extent of any such amounts remaining after such Reinvestments, to be applied as RPA
Deferred Purchase Price on existing Pool Receivables and Related Assets relating to such Receivable Pool; provided, that, (A) if (I) the sum of the Purchasers’ Pool Investment and the Required Reserves in respect of any
Receivable Pool would exceed the Net Portfolio Balance for such Receivable Pool, (II) any Purchaser Group Investment in respect of such Receivable Pool would exceed the related Purchaser Group Commitment in respect of such Receivable Pool, (III) the
Purchasers’ Pool Investment in respect of such Receivable Pool would exceed the Purchasers’ Pool Commitment in respect of such Receivable Pool or (IV) the aggregate Investment of any Exiting Purchaser is greater than zero (in each case, at
such time and after giving effect to such Reinvestment), then the Servicer shall only make Reinvestments or apply such remaining amounts as RPA Deferred Purchase Price, as applicable, after first setting aside and holding in trust for the benefit of
the applicable Administrative Agent on behalf of each Purchaser Group, in addition to the Pool Hold-Back Amount, a portion of such available Collections relating to such Receivable Pool not previously set aside for such purpose and then so held in
respect of such Receivable Pool equal to the sum of the following amounts (the “Pool Deficiency Amount”) (i) the amount, if any, which is necessary to reduce the sum of the Purchasers’ Pool Investment in such Receivable
Pool and the Required Reserves in respect of such Receivable Pool at such time to an amount equal to the Net Portfolio Balance for such Receivable Pool at such time, plus (ii) the amount, if any, which is necessary to reduce the
aggregate Investment in respect of such Receivable Pool of all Exiting Purchasers in such Receivable Pool to zero, plus (iii) the amount necessary to reduce the Purchasers’ Pool Investment in respect of such Receivable Pool to an
amount equal to the Purchasers’ Pool Commitment in respect of such Receivable Pool, plus (iv) the amount, if any, necessary to reduce each Purchaser Group Investment in respect of such Receivable Pool to an amount equal to or less
than the related Purchaser Group Commitment in respect of such Receivable Pool, plus (v) the amount, if any, equal to the difference between the Available Pool Deficiency Amount in respect of the other Receivable Pool which has been set
aside for the purposes set forth in clauses (i) through (iv) in respect of such other Receivable Pool and the Pool Deficiency Amount for such other Receivable Pool, in each case, at such time (any remaining Collections relating to such
Receivable Pool after giving effect to this proviso shall then be applied as described above in this Section 1.3(a)(ii)); and (B) if the conditions precedent to Reinvestment in clauses (a) or (b) of
Section 5.2 are not satisfied or no Reinvestments are to be made in accordance with Section 3.2(d), then the Servicer shall not apply any of such remaining Collections to a Reinvestment or as RPA Deferred Purchase Price
pursuant to this clause (ii) (it being understood and agreed that, in any event, no portion of the 

  
 9 

 
RPA Deferred Purchase Price in respect of any Receivable Pool may be paid to any Seller on any applicable date if, on or prior to such date, an Event of Termination, Collection Control Event or
Non-Reinvestment Event has occurred and is continuing or the Liquidation Period has commenced, in each case, until Obligations have been indefeasibly paid in full in cash). 

(b) Unreinvested Collections. Subject to Sections 1.3(a)(ii) and 3.1(c)(iv), the Servicer shall in respect
of each Receivable Pool set aside and hold in trust for the applicable Administrative Agent on behalf of each Purchaser Group, all Collections in respect of the Pool Deficiency Amount relating to such Receivable Pool which, pursuant to clause
(ii) of Section 1.3(a), may not be reinvested in the Pool Receivables and Related Assets or applied as RPA Deferred Purchase Price in respect of such Receivable Pool; provided, that the Servicer may in respect of any
Receivable Pool commingle such Collections with its own funds, so long as the Servicer is able, on each Business Day and on an equitable and consistent basis, to identify which funds are Collections relating to each such Receivable Pool; it being
understood that the Collateral Agent and the applicable Administrative Agent, on behalf of Purchaser Groups, shall have a claim against the Servicer to make payments pursuant to Sections 1.3(c), 3.1(b) or 3.1(d) (which claims
shall be full recourse to the Servicer) in an amount equal to the amount of such Collections that have not been set aside or that have been so commingled; provided further, that the Servicer shall hold Collections that have been so set
aside in a separate deposit account containing only such Collections if the Collateral Agent or any Administrative Agent has requested that the Servicer not commingle funds during the continuance of any Specified Unmatured Event, Event of
Termination, Collection Control Event or Non-Reinvestment Event. If, prior to the date when Collections in respect of a Receivable Pool are required to be paid to the Purchaser Agents, pursuant to Section 1.3(c), the amount of such
Collections so set aside in respect of a Receivable Pool exceeds the sum of the Pool Hold-back Amount plus the Pool Deficiency Amount in respect of such Receivable Pool and the conditions precedent to Reinvestment set forth in
clauses (a) and (b) of Section 5.2 are satisfied and Reinvestments in respect of such Receivable Pool are permitted in accordance with Section 3.2(d), then the Servicer shall apply such Collections
(or, if less, a portion of such Collections equal to the amount of such excess) in accordance with Section 1.3(a)(ii) to the making of a Reinvestment in respect of such Receivable Pool or otherwise to the payment of RPA Deferred Purchase
Price in respect of such Receivable Pool. 
 (c) Payment of Amounts Set Aside. 

(i) The Servicer shall, from the portion of the Pool Hold-Back Amount relating to each Receivable Pool set aside and held in
trust pursuant to clause (i) of Section 1.3(a) in respect of Yield on a Rate Tranche relating to such Receivable Pool not funded by the issuance of Commercial Paper Notes (including under a Liquidity Agreement or an
Enhancement Agreements) pay to the applicable Purchaser Agent such Yield on the last day of the then current Yield Period for such Rate Tranche based on information provided by such Purchaser Agent pursuant to Article II, or during the
Liquidation Period or after the occurrence of an Event of Termination, Collection Control Event or Non-Reinvestment 

  
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Event that remains continuing, on such earlier date or dates as the applicable Administrative Agent or the Collateral Agent shall require on at least one (1) Business Day’s prior
written notice to the Servicer. 
 (ii) The Servicer shall, from the portion of the Pool Hold-Back Amount relating to each
Receivable Pool set aside and held in trust pursuant to clause (i) of Section 1.3(a) above and not applied pursuant to clause (i) of this Section 1.3(c) and not set aside in respect of such Receivable
Pool’s Pro Rata Share of the Servicing Fee, pay to the applicable Administrative Agent in respect of amounts owing to it in its capacity as Administrative Agent and each applicable Purchaser Agent and the Collateral Agent in respect of amounts
owed to it and to the members of its Purchaser Group on the Settlement Date for each Settlement Period, as provided in Section 3.1, or during the Liquidation Period or after the occurrence of an Event of Termination, Collection Control
Event or Non-Reinvestment Event that remains continuing, on such earlier date or dates as the Collateral Agent or the applicable Administrative Agent shall require on at least one (1) Business Day’s prior written notice to the Servicer.

 (iii) If as of any Reporting Date prior to the Cap Account Trigger Date, the ISC Cap Pool Hold-Back Amount (including the
portion of the ISC Cap Pool Hold-Back Amount which represents the then current Estimated ISC Cap Deficiency Amount) is less than the ISC Cap Reserve Amount as of such Reporting Date, the Sellers and the Servicer shall as promptly as practicable (and
in any event within one (1) Business Day) cause an amount equal to such shortfall to be added to the ISC Cap Pool Hold-Back Amount. To the extent that prior to the Cap Account Trigger Date, the ISC Cap Pool Hold-Back Amount exceeds the sum of
(x) the then current ISC Cap Reserve Amount, and (y) the then current Estimated ISC Cap Deficiency Amount as of such Reporting Date, such excess may be applied in accordance with Section 1.3(a). 

(iv) On the Cap Account Trigger Date, the Servicer shall remit to the ISC Cap Reserve Account from the ISC Cap Pool Hold-Back
Amount, an amount equal to the then current ISC Cap Reserve Amount. If as of any Reporting Date after the Cap Account Trigger Date, an ISC Cap Deficiency Amount exists, then the Servicer shall, from the portion of the Pool Hold-Back Amount set aside
and held in trust pursuant to clause (i) of Section 1.3(a) above in respect of the Estimated ISC Cap Deficiency Amount, remit to the ISC Cap Reserve Account such ISC Cap Deficiency Amount. If after the Cap Account Trigger Date, the
Estimated ISC Cap Deficiency Amount set aside and held in trust pursuant to clause (i) of Section 1.3(a) is less the ISC Cap Deficiency Amount, the Servicer and the Sellers shall as promptly as practicable (and in any event
within one (1) Business Day) remit, or cause to be remitted to the ISC Cap Reserve Account an amount equal to such shortfall. To the extent that the Estimated ISC Cap Deficiency Amount set aside pursuant to clause (i) of
Section 1.3(a) above exceeds the ISC Cap Deficiency Amount as of any Reporting Date, such excess may be applied in accordance with Section 1.3(a). 

(v) The Servicer shall, from the Available Pool Deficiency Amount set aside and held in trust pursuant to
Section 1.3(b) above, pay to the applicable Purchaser Agents the amounts required to be paid pursuant to, and for application, in accordance with Section 3.1(c)(ii). 

  
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 SECTION 1.4 Repurchase of Certain Receivables. 

(a) On each day during a Settlement Period, each Seller shall in respect of the SCC Receivable Pool be deemed to have
immediately repurchased from the Collateral Agent on behalf of the Purchasers any Receivables that become Aged Receivables on such day, and the Collateral Agent on behalf of the Purchasers shall convey (without any further action on any of their
part required to accomplish such conveyance) to such Seller such Aged Receivables on such day and prior to such Aged Receivables being written off as uncollectible, it being understood and agreed that (i) the repurchase thereof shall be settled
on the first Settlement Date to occur after the end of such Settlement Period in accordance with the following provisions of this Section, (ii) a Seller shall repurchase, and the Collateral Agent on behalf of the Purchasers shall so convey to
such Seller, related Aged Receivables pursuant to this Section only to the extent that the aggregate Unpaid Balance of all of the Aged Receivables relating to the SCC Receivable Pool repurchased by the Sellers during any Settlement Period would not
exceed 8.0% of the aggregate initial Unpaid Balance of Receivables relating to both Receivable Pools transferred to the Purchasers pursuant to this Agreement during the related Settlement Period, and (iii) unless the Seller has paid the related
repurchase price pursuant to clause (b)(ii)(B) below in cash by deposit to a Lock-Box Account on the applicable Settlement Date, no such repurchase or reconveyance shall occur if any Event of Termination, Unmatured Event of Termination,
Specified Unmatured Event, Non-Reinvestment Event or Collection Control Event has occurred and is continuing or after the expiration of any applicable grace period, if any, would result therefrom. 

(b) The repurchase price applicable to each conveyance payable on the Settlement Date in respect of any Settlement Period shall
be comprised of (i) the Funding Advance Rate for such Aged Receivables times the aggregate Unpaid Balance of such Aged Receivables plus (ii) the remaining Unpaid Balance of such Aged Receivables after application of clause
(i) above. The amount in clause (i) shall be paid by the Seller (A) first, as a setoff against any RPA Deferred Purchase Prices payable to such Seller (and to which such Seller otherwise would have been entitled) and
(B) second, at the Seller’s option (subject to clause (a)(iii) above), in cash by deposit to a Lock-box Account on the applicable Settlement Date from any other funds not constituting Collections, available to the Seller at such
time. The amount in clause (ii) above shall be paid by the Seller through the extinguishment of its right to payment on the remaining Unpaid Balance of such Aged Receivables. 

(c) For purposes of this Section: 

(i) “Aged Receivable” means, on any date of determination, any Receivable relating to the SCC Receivable Pool
that becomes more than 90 days past due on such date or that is at risk of imminent write-off as determined by the Servicer in accordance with the Credit and Collection Policy. 

(ii) “Funding Advance Rate” means in respect of any Receivable relating to the SCC Receivable Pool, as of any
Settlement Date, a fraction, expressed as a percentage, (a) the numerator of which is the Purchasers’ Pool Investment in respect of the SCC Receivable Pool, and (b) the denominator of which is the Net Portfolio Balance in respect of
the SCC Receivable Pool. 

  
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 For the avoidance of doubt, no Receivable repurchased pursuant to this Section shall, as a result
of such repurchase, be excluded from (i) any calculation of the SCC Adjusted Dilution Ratio, the SCC Delinquency Ratio, the SCC Dilution Horizon Ratio, the SCC Dilution Ratio, the SCC Loss Horizon Ratio, the SCC Loss Ratio, the SCC
Loss-to-Liquidation Ratio, the SCC Peak Loss Ratio or any component of the foregoing or (ii) Defaulted Receivables for purposes of clause (c) of the definition of “Eligible Receivable”. 

SECTION 1.5 Sellers Jointly and Severally Liable for Obligations. 

(a) Joint and Several Liability. Notwithstanding anything to the contrary herein or in any other Transaction Document, each Seller
shall be jointly and severally liable for all the other Sellers’ Obligations. Each Seller acknowledges, agrees, represents and warrants the following: 

(i) Inducement. Each Purchaser, the Collateral Agent and each Administrative Agent has been induced to enter into this
Agreement and each Purchaser has been induced to make Investments and Reinvestments in part based upon the assurances by each Seller that such Seller desires that the other Sellers’ Obligations be honored and enforced as separate obligations of
such Seller, should the Collateral Agent or any Administrative Agent (on behalf of the Purchasers) desire to do so. 
 (ii)
Combined Liability. Notwithstanding the foregoing, the Sellers shall be jointly and severally liable to the Purchasers for all the Sellers’ Obligations, including, without limitation, all their respective representations, warranties,
covenants, payment obligations and indemnities, and the Collateral Agent or any Administrative Agent (on behalf of each Purchaser) may at its option enforce any Obligation of a Seller against any one or all of the Sellers. 

(iii) Separate Exercise of Remedies. Subject to Section 11.3(b), the Collateral Agent or any Administrative
Agent (on behalf of the Purchasers) may exercise remedies against each Seller and its property (including the Collateral) separately, whether or not the Collateral Agent or any Administrative Agent exercises remedies against the other Sellers or
their property. Subject to Sections 11.3(b), the Collateral Agent may enforce one or all Sellers’ Obligations without enforcing the other Sellers’ Obligations. Any failure or inability of the Collateral Agent to enforce a
Seller’s Obligations shall not in any way limit the Collateral Agent’s or any Administrative Agent’s right to enforce the Obligations of the other Sellers. 

  
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 (b) Guaranty. Without limiting clause (a) above, each Seller hereby
unconditionally guarantees to the Collateral Agent, each Administrative Agent, each Purchaser, each Purchaser Agent and each other Affected Party the prompt payment of the Obligations of the other Sellers in full when due (whether at stated
maturity, as a mandatory prepayment, by acceleration or otherwise) and the timely performance by the other Sellers of all their other obligations under this Agreement and the other Transaction Documents. This guaranty is a guaranty of payment and
not of collection and is a continuing guaranty and shall apply to all of the Sellers’ Obligations whenever arising. Notwithstanding any provision to the contrary contained herein or in any other Transaction Document, to the extent the liability
of a Seller for the Obligations of the other Sellers under this Section 1.5 shall be adjudicated to be invalid or unenforceable for any reason (including, without limitation, because of any applicable state or federal law relating to
fraudulent conveyances or transfers) then the liability of such Seller for the Obligations of the other Seller under this Section 1.5 shall be limited to the maximum amount that is permissible under applicable law (whether federal or
state or otherwise). 
 (c) Obligations Unconditional. The obligations of each Seller under this Section 1.5 are absolute
and unconditional, irrespective of the value, genuineness, validity, regularity or enforceability of any of the Transaction Documents or any other agreement or instrument referred to therein, to the fullest extent permitted by applicable law,
irrespective of any other circumstance whatsoever which might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor. Each Seller agrees that this Section 1.5 may be enforced by the Collateral Agent, each
Administrative Agent, the Purchasers, the Purchaser Agents and the other Affected Parties without the necessity at any time of resorting to or exhausting any other security or collateral and without the necessity at any time of having recourse to
any other Transaction Documents or any collateral hereafter securing the Obligations of a Seller or otherwise, and each Seller hereby waives the right to require any Affected Party to make demand on or proceed against any Seller, Servicer, any
Originator or any other Person (including a co-guarantor) or to require any Affected Party to pursue any other remedy or enforce any other right. Each Seller further agrees that it shall have no right of subrogation, indemnity, reimbursement or
contribution against the other Sellers or any other guarantor of any Seller’s Obligations for amounts paid under this Section 1.5 until the Final Payout Date. Each Seller further agrees that nothing contained herein shall prevent
any Affected Party from suing on any of the other Transaction Documents or foreclosing its or their, as applicable, security interest in or lien on any collateral securing the Obligations or from exercising any other rights available to it or them,
as applicable, under this Agreement, any other Transaction Document, or any other instrument of security, if any, and the exercise of any of the aforesaid rights and the completion of any foreclosure proceedings shall not constitute a discharge of
such Seller’s obligations hereunder; it being the purpose and intent of each Seller that its obligations under this Section 1.5 shall be absolute, independent and unconditional under any and all circumstances. Neither any
Seller’s obligations under this Section 1.5 nor any remedy for the enforcement thereof shall be impaired, modified, changed or released in any manner whatsoever by an impairment, modification, change, release, increase or limitation
of the liability of the other Sellers, of Servicer or of any Originator or by reason of the bankruptcy or insolvency of the other Sellers, of Servicer or of any Originator. Each Seller waives any and all notice of the creation, renewal, extension or
accrual of any of the Obligations of the other Sellers and notice of or proof of reliance by any Affected Party on the guarantees set forth in this Section 1.5 or acceptance thereof. The Obligations, and any part of them, shall
conclusively be deemed to have been created, contracted or incurred, or 

  
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renewed, extended, amended or waived, in reliance upon the guarantees set forth in this Section 1.5. All dealings between any Seller (or any of its Affiliates, including the initial
Servicers and the Originators), on the one hand, and the Affected Parties, on the other hand, likewise shall be conclusively presumed to have been had or consummated in reliance upon the guarantees set forth in this Section 1.5. Each
Seller hereby subordinates to the Obligations of the other Sellers all debts, liabilities and other obligations, whether direct, indirect, primary, secondary, several, joint and several or otherwise, and irrespective of whether such debts,
liabilities and obligations be evidenced by note, contract, open account, book entry or otherwise, owing to such Seller by the other Sellers, Servicer, any Originator or any of their respective Affiliates. 

(d) Modifications. Each Seller agrees that (i) all or any part of the other Sellers’ Collateral now or hereafter held for the
Obligations, if any, may be exchanged, compromised or surrendered from time to time; (ii) none of the Affected Parties shall have any obligation to protect, perfect, secure or insure any such security interests, liens or encumbrances now or
hereafter held, if any, for the Obligations; (iii) the time or place of payment of the other Sellers’ Obligations may be changed or extended, in whole or in part, to a time certain or otherwise, and may be renewed or accelerated, in whole
or in part; (iv) the other Sellers and any other party liable for payment of the other Sellers’ Obligations may be granted indulgences generally; (v) any of the other Sellers’ rights, duties, obligations or liabilities under any
of the Transaction Documents may be modified, amended or waived; (vi) any party (including any co-guarantor) liable for the payment of all or any part of the Obligations may be granted indulgences or be released; and (vii) any deposit
balance for the credit of the other Sellers or any other party liable for the payment of the Obligations or liable upon any security therefor may be released, in whole or in part, at, before or after the stated, extended or accelerated maturity of
the Obligations, all without notice to or further assent by such Seller. 
 (e) Waiver of Rights. Each Seller hereby expressly waives
diligence, presentment, demand, protest or notice of any kind whatsoever, as well as any requirement that the Affected Parties (or any of them) exhaust any right to take any action against any Seller, any Originator, Servicer or any other Person
(including the filing of claims in the event of receivership or bankruptcy of any Seller, Servicer, any Originator or any other entity) or with respect to any collateral or collateral security at any time securing any of the Obligations, and hereby
consents to any and all extensions of time of the due performance of any or all of the Obligations. Each Seller agrees that it shall not exercise or assert any right which it may acquire by way of contribution, reimbursement or subrogation under
this Agreement unless and until, subject to Section 13.5, the occurrence of the Purchase Termination Date (as defined below). Each Seller also hereby expressly waives all other defenses it may have as a guarantor or a surety generally or
otherwise based upon suretyship, impairment of collateral or otherwise in connection with the Obligations whether in equity or at law other than, subject to Section 13.5, the occurrence of the Purchase Termination Date. Each Seller
agrees that its obligations hereunder shall be irrevocable and unconditional. 
 (f) Reinstatement. Notwithstanding anything
contained in this Agreement or the other Transaction Documents, the obligations of each Seller under this Section 1.5 shall be automatically reinstated if and to the extent that for any reason any payment by or on behalf of any Person in
respect of the other Sellers’ Obligations is rescinded or must be otherwise restored by any holder of any of the other Sellers’ Obligations, whether as a result of any proceedings in 

  
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bankruptcy or reorganization or otherwise, and each Seller agrees that it will indemnify each Affected Party on demand for all reasonable costs and expenses (including, without limitation,
reasonable fees of counsel) incurred by such Person in connection with such rescission or restoration, including any such costs and expenses incurred in defending against any claim alleging that such payment constituted a preference, fraudulent
transfer or similar payment under any bankruptcy, insolvency or similar law. 
 (g) Remedies. Each Seller acknowledges and agrees
that its obligations under this Section 1.5 are secured in accordance with the terms of this Agreement (including, without limitation, the terms of Sections 1.2(d)). 

(h) Subrogation. Each Seller agrees that, until the indefeasible payment of all the Obligations in full in cash and the termination of
the Pool Commitments in respect of both of the Receivable Pools, it will not exercise, and hereby waives, any right of reimbursement, subrogation, contribution, offset or other claims against the other Sellers arising by contract or operation of law
in connection with any payment made or required to be made by such Seller under this Section 1.5. After the indefeasible payment in full in cash of all the Obligations and the termination of the Pool Commitments in respect of both of the
Receivable Pools, each Seller shall be entitled to exercise against the other Sellers all such rights of reimbursement, subrogation, contribution, and offset, and all such other claims, to the fullest extent permitted by law. 

(i) Maximum Guaranty Amount. Notwithstanding any other provision of this Agreement to the contrary, in the event that any action is
brought seeking to invalidate any Seller’s obligations under this Agreement under any fraudulent conveyance or fraudulent transfer theory, such Seller shall be liable under this Agreement only for an amount equal to the maximum amount of
liability that could have been incurred under applicable law by such Seller under any guaranty of the other Sellers’ Obligations (or any portion thereof) at the time of the execution and delivery of this Agreement (or, if such date is
determined not to be the appropriate date for determining the enforceability of such Seller’s obligations hereunder for fraudulent conveyance or transfer purposes, on the date determined to be so appropriate) without rendering such a
hypothetical guaranty voidable under applicable law relating to fraudulent conveyance or fraudulent transfer (the “Maximum Guaranty Amount”), and not for any greater amount, as if such Seller’s obligations under this Agreement
had instead been the Maximum Guaranty Amount. 
 ARTICLE II 

COMPUTATIONAL RULES 

SECTION 2.1 Selection of Rate Tranches. Subject to the requirements set forth in this Article II, each Purchaser Agent
shall from time to time, only for purposes of computing Yield relating to each Receivable Pool with respect to each Purchaser in its Purchaser Group, account for such Purchaser’s Investment in respect of each Receivable Pool in terms of one or
more Rate Tranches, and the applicable Yield Rate may be different for each Rate Tranche. Each Purchaser’s Investment in respect of each Receivable Pool shall be allocated to each Rate Tranche by the related Purchaser Agent to reflect the
funding sources for each portion of the Asset Portfolio relating thereto, so that: 
 (a) there will be one or more Rate
Tranches in respect of each Receivable Pool, selected by each Purchaser Agent, reflecting the portion, if any, of the aggregate Investment of the Purchasers in its Purchaser Group in respect of each Receivable Pool funded or maintained by such
Purchasers other than through the issuance of Commercial Paper Notes (including by outstanding Liquidity Advances or by funding under an Enhancement Agreement); and 

  
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 (b) there will be a Rate Tranche in respect of each Receivable Pool, selected by
each Purchaser Agent, equal to the excess of the aggregate Investment of the Purchasers in its Purchaser Group in respect of such Receivable Pool over the aggregate amounts allocated at such time pursuant to clause (a) above, which Rate
Tranche shall reflect the portion of such aggregate Investment in respect of such Receivable Pool funded or maintained by such Purchasers through the issuance of Commercial Paper Notes. 

Each Purchaser Agent may in respect of a Receivable Pool, in its sole discretion, declare any Yield Period applicable to any Investment of a
Purchaser in its Purchaser Group in respect of such Receivable Pool to be terminated and allocate the portion of such Purchaser’s Investment allocated to such Yield Period to one or more other Yield Periods and Yield Rates as such Purchaser
Agent shall select. 
 SECTION 2.2 Computation of each Purchaser’s Investment and each Purchaser’s Tranche
Investment. In making any determination of the Purchasers’ Total Investment, the Purchasers’ Pool Investment in respect of a Receivable Pool, any Purchaser’s Investment in a Receivable Pool and any Purchaser’s Tranche
Investment with respect to a Receivable Pool, the following rules shall apply: 
 (a) each Purchaser’s Investment in
respect of a Receivable Pool shall not be considered reduced by any allocation, setting aside or distribution of any portion of Collections unless such Collections shall have been actually received by the applicable Purchaser Agent for application
hereunder to reduce the applicable Purchaser’s Investment in such Receivable Pool in accordance with the terms hereof; 

(b) each Purchaser’s Investment in any Receivable Pool (or any other amounts payable under any Transaction Document) shall
not be considered reduced (or paid) by any distribution of any portion of Collections or other payments, as applicable, if at any time such distribution or payment is rescinded or must otherwise be returned for any reason; and 

(c) if there is any reduction in any Purchaser’s Investment in respect of a Receivable Pool, there shall be a
corresponding reduction (in the aggregate) in such Purchaser’s Tranche Investment in respect of such Receivable Pool with respect to one or more Rate Tranches selected by the related Purchaser Agent in its reasonable discretion. 

  
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 SECTION 2.3 Computation of Yield. In making any determination of Yield, the
following rules shall apply: 
 (a) Each Purchaser Agent shall determine the Yield accruing with respect to each Rate Tranche
relating to a Receivable Pool for the Purchasers in its Purchaser Group, based on the Yield Period therefor determined in accordance with Section 2.1 and the other terms hereof (or, in the case of the Rate Tranche funded by Commercial
Paper Notes, each Settlement Period), in accordance with the definition of Yield; 
 (b) no provision of this Agreement shall
require the payment or permit the collection of Yield in excess of the maximum permitted by applicable Law; and 
 (c) Yield
for any Rate Tranche shall not be considered paid by any distribution or other payment if at any time such distribution or payment is rescinded or must otherwise be returned for any reason. 

SECTION 2.4 Estimates of Yield Rate, Fees, Etc. It is understood and agreed that (a) the Yield Rate for any Rate Tranche
may change from one applicable Yield Period or Settlement Period to the next, and the applicable Bank Rate, Base Rate or CP Rate used to calculate the applicable Yield Rate may change from time to time and at any time during an applicable Yield
Period or Settlement Period, (b) any rate information provided by any Purchaser Agent to any Seller or the Servicer shall be based upon such Purchaser Agent’s good faith estimate, (c) the amount of Yield actually accrued with respect
to a Rate Tranche during any Yield Period (or, in the case of the Rate Tranche funded by Commercial Paper Notes, any Settlement Period) may exceed, or be less than, the amount set aside with respect thereto by the Servicer, and (d) the amount
or amounts provided for in Section 4.3 payable to any Affected Party accrued hereunder with respect to any Settlement Period may exceed, or be less than, the amount set aside with respect thereto by the Servicer. Failure to set aside any
amount so accrued shall not relieve the Servicer of its obligation to remit Collections to the applicable Purchaser Agent or otherwise to any other Person with respect to such accrued amount, as and to the extent provided in Section 3.1.

 ARTICLE III 

SETTLEMENTS 
 SECTION
3.1 Settlement Procedures. 
 The parties hereto will take the following actions with respect to each Settlement Period: 

(a) Information Package. On the twentieth (20th) day of each
calendar month (or if such day is not a Business Day, the next Business Day) following the Cut-Off Date for such Settlement Period, (each a “Reporting Date” for and related to the Settlement Period ending immediately prior to such
date), the Servicer shall deliver to the Collateral Agent and each Administrative Agent an e-mail attaching an Excel file and a file in .pdf or similar format signed by the Servicer containing the information described in Exhibit 3.1(a),
including the information calculated by the Servicer pursuant to this Section 3.1 (each, an “Information Package”) for the related Settlement Period; provided, that each

  
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Administrative Agent may modify, in good faith and in the exercise of reasonable (from the perspective of a secured asset-based lender) business judgment, the information relating to its related
Receivable Pool required to be provided by the Servicer in, or the form of, the Information Package upon reasonable prior notice to the Servicer; provided, further, that during the Liquidation Period, during the continuance of an Event
of Termination, an Unmatured Event of Termination, Collection Control Event or Non-Reinvestment Event, the Collateral Agent or any Administrative Agent may request, in its reasonable discretion, the Servicer to, and the Servicer agrees to, deliver
any information related to the Asset Portfolios or the transactions contemplated hereby that can reasonably be produced by Servicer with its then-current reporting system at such time as the Collateral Agent or such Administrative Agent shall
reasonably request (including a calculation of Required Reserves for each Receivable Pool and each component thereof) on each Business Day. 

(b) Yield; Other Amounts Due. On or before the second
(2nd) Business Day prior to each Reporting Date, each Purchaser Agent shall notify the Servicer of (i) the amount of Yield accrued in respect of each related Rate Tranche for the
Purchasers in each Purchaser Group for each Receivable Pool during such Settlement Period and (ii) all Fees and other amounts accrued and payable or to be paid by the Sellers under this Agreement and the other Transaction Documents on the
related Settlement Date (other than amounts described in clause (c) below) to any Purchaser Agent or any Purchaser in, or Affected Party related to, any Purchaser Group. The Sellers (or the Servicer on their behalf), on the Settlement
Date for such Settlement Period, or when otherwise required hereunder prior to each such date, shall pay such Yield and all Fees and other amounts due in respect of such Settlement Period to the applicable Purchaser Agent out of amounts set aside
pursuant to Section 1.3 for such purpose and, to the extent such amounts were not so set aside, the Sellers hereby agree to pay such amounts (notwithstanding any limitation on recourse or other liability limitation contained herein to
pay such amounts). Each Cap Calculation Agent shall, on or before the second (2nd) Business Day prior to each Reporting Date, notify the Servicer of the ISC Cap Reserve Amount. 

(c) Settlement Computations. 

(i) On each Reporting Date, the Servicer shall include in the Information Package calculations, as of the most recent Cut-Off
Date for the related Settlement Period, and based upon the assumption in the next sentence, (A) the Unpaid Balance of all of the Pool Receivables in each Receivable Pool, the Purchasers’ Pool Investment for each Receivable Pool, the
aggregate ISC Conditional Unpaid Balance in respect of the ISC Receivable Pool, the Purchasers’ Total Investment, the Purchaser Group Investment of each Purchaser Group for each Receivable Pool, the Required Reserves for each Receivable Pool,
the Net Portfolio Balance for each Receivable Pool and each component of each of the foregoing, (B) the amount of the reduction or increase (if any) in each of the Required Reserves for each Receivable Pool, the Net Portfolio Balance for each
Receivable Pool, the Purchasers’ Pool Investment for each Receivable Pool, the Purchaser Group Investment for each Receivable Pool of any Purchaser Group 

  
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and the Purchasers’ Total Investment since the Cut-Off Date immediately preceding the Cut-Off Date for the most recently ended Settlement Period, (C) the excess (if any) of the sum of
the Purchasers’ Pool Investment for each Receivable Pool and the Required Reserves for such Receivable Pool, over the Net Portfolio Balance for such Receivable Pool, (D) the excess (if any) of the Purchasers’ Pool Investment in
respect of such Receivable Pool , over the Purchasers’ Pool Commitment in respect of such Receivable Pool, (E) the excess (if any) of the Purchaser Group Investment in respect of such Receivable Pool of each Purchaser Group, over the
Purchaser Group Commitment in respect of such Receivable Pool of each such Purchaser Group, (F) the then current ISC Cap Reserve Amount and the then current Estimated ISC Cap Deficiency Amount, (G) the aggregate Cap Payments received since
the previous Cut-Off Date, and (H) the aggregate Investment of any Exiting Purchasers in respect of each Receivable Pool. Such calculations shall be based upon the assumption that Collections in respect of each Receivable Pool set aside
pursuant to Section 1.3 (and not otherwise applied in accordance with such Section) will be paid to the applicable Purchaser Agent for the benefit of the applicable Purchasers in its Purchaser Group in accordance with the related
Purchaser Group’s Ratable Share of such Collections on the Settlement Date for the Settlement Period related to such Reporting Date. 

(ii) If, in respect of a Receivable Pool, according to the computations made pursuant to clause (i) of this
Section 3.1(c), the sum of the Purchasers’ Pool Investment and the Required Reserves in respect of any Receivable Pool at such time exceeds the Net Portfolio Balance for such Receivable Pool at such time, the Purchasers’
Pool Investment in respect of such Receivable Pool exceeds the Purchasers’ Pool Commitment in respect of such Receivable Pool, the Purchaser Group Investment of any Purchaser Group in respect of such Receivable Pool exceeds the Purchaser Group
Commitment in respect of such Receivable Pool of such Purchaser Group or the aggregate Investment of Exiting Purchasers shall exceed zero, the Servicer shall, on behalf of the Sellers, (i) promptly notify the Collateral Agent and the
Administrative Agents thereof and (ii) immediately pay to the applicable Purchaser Agents for the benefit of the applicable Purchasers from Collections in respect of such Receivable Pool received during the applicable period and not previously
paid to such Purchaser Agents, which have been set aside in respect of the Pool Deficiency Amount in respect of such Receivable Pool in accordance with Section 1.3, (the “Available Pool Deficiency Amount”) the amount
necessary to reduce (A) the Purchasers’ Pool Investment in respect of such Receivable Pool to the Purchasers’ Pool Commitment in respect of such Receivable Pool, (B) the sum of the Purchasers’ Pool Investment and the
Required Reserves at such time to the Net Portfolio Balance at such time, (C) the Purchaser Group Investment of each Purchaser Group in respect of such Receivable Pool to the Purchaser Group Commitment of each such Purchaser Group in respect of
such Receivable Pool and (D) the aggregate Investment of all Exiting Purchasers to zero. The Servicer shall apply such Available Pool Deficiency Amount in respect of a Receivable Pool in the following order: (i) first, to reduce the
sum of the Purchasers’ Pool Investment and the Required Reserves in respect of such Receivable Pool to an amount equal to the Net 

  
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Portfolio Balance for such Receivable Pool at such time, (ii) second, to reduce the sum of the Purchaser’s Pool Investment in respect of such Receivable Pool, to an amount equal
to the Purchasers’ Pool Commitment in respect of such Receivable Pool, (iii) third, to reduce the aggregate Investment in respect of such Receivable Pool of all Exiting Purchasers to zero, and (iv) fourth, on a pro rata
basis, the remaining Available Pool Deficiency Amount, to the other applications for which such Available Pool Deficiency Amount was set aside in accordance with Section 1.3. 

(iii) The payments described in clause (ii) of this Section 3.1(c) shall be made out of the Available
Pool Deficiency Amount relating to such Receivable Pool set aside pursuant to Section 1.3 and, to the extent such amounts were not so set aside, the Sellers hereby agree to pay such amounts (notwithstanding any limitation on recourse or
other liability limitation contained herein to pay such amounts) to the Servicer (for distribution by the Servicer to the Purchaser Agents for the benefit of the applicable Purchasers in accordance with Section 3.1(c)(ii)) during the relevant
Settlement Period. Notwithstanding anything to the contrary set forth above, on any date on or prior to the Final Payout Date, if the sum of the Purchasers’ Pool Investment and the Required Reserves in respect of a Receivable Pool at such time
exceeds the Net Portfolio Balance of such Receivable Pool at such time, the Servicer shall immediately pay to each Purchaser Agent (ratably, based on the Purchaser Group Investment of such Purchaser Agent’s Purchaser Group in respect of such
Receivable Pool at such time) from amounts held in trust, or that should have been so held, pursuant to Section 1.3, an amount equal to such excess. 

(iv) In addition to the payments described in clause (ii) of this Section 3.1(c), during the
Liquidation Period or after the occurrence of an Event of Termination, Collection Control Event or Non-Reinvestment Event that remains continuing, the Servicer shall pay to each Purchaser Agent the Ratable Share of its Purchaser Group of all other
Collections on all Pool Receivables, whether or not required to be set aside pursuant to Section 1.3 on the dates specified pursuant to Section 1.3(c).

(d) Order of Application. The Servicer shall distribute the funds relating to each Receivable Pool (and in respect of
the accrued and unpaid Yield referred to in clause (ii) below, first from Cap Payments received since the prior Cut-Off Date, if any) required to be distributed pursuant to this Section 3.1 with respect to any Settlement Period, in
the following order of priority: 
 (i) to the Collateral Agent and the Administrative Agents in respect of all expenses and
Indemnified Amounts payable to the Collateral Agent and the Administrative Agents (solely in their capacities as such) under this Agreement and the other Transaction Documents and allocated to such Receivable Pool in accordance with
Section 8.2; provided, that, the aggregate amount paid under this Section 3.1(d)(i) shall not exceed $400,000 in any calendar year; 

  
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 (ii) to the applicable Administrative Agent in respect of such Receivable Pool
(in the case of Fees) and each Purchaser Agent (in the case of Yield and Fees) ratably (based on the aggregate accrued and unpaid Yield and Fees payable to them and the members of their respective Purchaser Groups) Yield accrued and unpaid on all
Rate Tranches relating to such Receivable Pool for the Purchasers in its Purchaser Group howsoever funded or maintained during the related Settlement Period and to the accrued and unpaid Fees relating to such Receivable Pool for its Purchaser Group
(or for itself in the case of the applicable Administrative Agent); 
 (iii) to the Servicer, such Receivable Pool’s Pro
Rata Share of all accrued and unpaid Servicing Fee (if the Servicer is not Sprint Spectrum or an Affiliate of Sprint Corporation); 

(iv) to each Purchaser Agent ratably (based on their respective Purchaser Group Investments) in respect of such Receivable
Pool, to the reduction of the Purchasers’ Pool Investment in respect of such Receivable Pool (x) if clause (y) below does not then apply, to the extent such reduction is required under Section 3.1(c) or
3.2(b) or (y) during the Liquidation Period or during the continuance of an Event of Termination, Collection Control Event or a Non-Reinvestment Event, first (1) to reduce the Purchasers’ Pool Investment in respect of
such Receivable Pool to zero, and (2) then to reduce the Purchasers’ Pool Investment in respect of the other Receivable Pool to zero; provided, that for the avoidance of doubt, any amounts paid to any Purchaser Agent pursuant to
this clause (iii) shall be applied in reduction of the Investment of the relevant Purchasers in such Purchaser Agent’s Purchaser Group; 

(v) to the extent not paid pursuant to Section 3.1(d)(i) above, to the Collateral Agent and the Administrative
Agents in respect of all expenses and Indemnified Amounts payable to the Collateral Agent and the Administrative Agents (solely in their capacities as such) under this Agreement and the other Transaction Documents and allocated to such Receivable
Pool in accordance with Section 8.2; 
 (vi) to each Purchaser Agent ratably (based on the aggregate accrued and
unpaid Obligations owing to their respective Purchaser Groups) all accrued and unpaid Obligations owed to any Affected Parties in such Purchaser Agent’s Purchaser Group (x) first, to the unpaid Obligations to the extent that such
Obligations have been allocated to such Receivable Pool in accordance with Section 8.2, and (y) second, to the unpaid Obligations to the extent that such Obligations have been allocated to the other Receivable Pool; and 

(vii) to the Servicer (i) first, to accrued and unpaid Servicing Fee relating to such Receivable Pool in an amount
equal to such Receivable Pool’s Pro Rata Share of such Servicing Fee and (ii) second, to the accrued and unpaid Servicing Fee in an amount equal to the other Receivable Pool’s Pro Rata Share of such Servicing Fee (in each case
if the Servicer is Sprint Spectrum or an Affiliate of Sprint Corporation). 

  
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 (e) Non-Distribution of Servicing Fee. The amounts (if any) in respect of
a Receivable Pool set aside by the Servicer pursuant to Section 1.3 in respect of the Servicing Fee may be retained by the Servicer or any permitted subservicer for its own account; provided, however, that if a Specified
Unmatured Event, Event of Termination, Collection Control Event or Non-Reinvestment Event in respect of such Receivable Pool has occurred and remains continuing, the Servicer shall, if so instructed by the
Collateral Agent or the applicable Administrative Agent, cease retaining the Servicing Fee pursuant to this clause (e) and shall instead pay such Servicing Fee only on Settlement Dates in accordance with the priority for distributions
set forth in Section 3.1(d). To the extent the Servicer sets aside and retains such amounts in respect of a Receivable Pool, no distribution shall be made in respect of the Servicing Fee in respect of a Receivable Pool pursuant to
Section 3.1(d)(iii) or Section 3.1(d)(iv) above. 
 (f) Delayed Payment. Notwithstanding
anything in this Agreement to the contrary, if, on any day for payment described in this Section 3.1 (or in Section 1.3(c) in respect of accrued Yield on Rate Tranches relating to a Receivable Pool funded by Liquidity
Advances or under an Enhancement Agreement), Collections in respect of such Receivable Pool during the relevant Settlement Period or Yield Period were less than the aggregate amounts of such Yield payable hereunder, the Servicer shall not make any
payment otherwise required, and the next available Collections shall be applied to such payment, and no Reinvestment or payment of RPA Deferred Purchase Price shall be permitted hereunder until such amount payable has been paid in full. The
foregoing shall not limit or otherwise affect the full recourse nature of any Seller’s obligations hereunder. 
 SECTION 3.2
Deemed Collections; Reduction of Purchasers’ Total Investment, Etc. 
 (a) Deemed Collections. If on any
day: 
 (i) the Unpaid Balance of any Pool Receivable is: 

(A) reduced or cancelled as a result of Dilution; and 

(B) less than the amount included in calculating the Net Portfolio Balance for the Receivable Pool relating to such Receivable
for purposes of any Information Package (for any reason other than as a result of Dilution or such Pool Receivable becoming a Defaulted Receivable or due to the application of Collections received with respect to such Pool Receivable); 

(ii) any Pool Receivable (or the terms of any related Contract governing such Pool Receivable or in respect of any ISC Upgrade
Receivable, the Upgrade Program) is extended, amended, waived or otherwise modified (except as expressly permitted under Section 8.2(b)); 

  
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 (iii) the due date for payment of any Pool Receivable is extended to a date that
is more than 30 days after such Pool Receivable’s original due date; or 
 (iv) any of the representations or warranties
of any Seller set forth in Section 6.1(n) were untrue when made with respect to any Pool Receivable; 
 then, on such day, the Sellers shall be
deemed to have received a Collection of such Pool Receivable and the Sellers shall pay to the applicable Administrative Agent (for the Purchaser Agents) on the next Settlement Date (or during the Liquidation Period or after the occurrence of an
Event of Termination, a Collection Control Event or a Non-Reinvestment Event that remains continuing, within one (1) Business Day from the event giving rise to such Deemed Collection) for application as provided in this Agreement an amount
equal to: 
 (1) in the case of clause (i) above, in the amount of such reduction or cancellation or the
difference between the actual Unpaid Balance (as determined immediately prior to the applicable event) and the amount included in respect of such Pool Receivable in calculating the Net Portfolio Balance for the related Receivable Pool or, with
respect to clauses (ii) and (iii) above, in the amount that such extension, amendment, modification or waiver affects the Unpaid Balance of the related Pool Receivable in the sole determination of the applicable
Administrative Agent, as applicable; or 
 (2) in the case of clause (iv) above, in the amount of the entire
Unpaid Balance of the relevant Pool Receivable or Pool Receivables (as determined immediately prior to the applicable event) with respect to which such representations or warranties were or are untrue. 

Collections deemed received by the Sellers under this Section 3.2(a) are herein referred to as “Deemed Collections”. If the
Deemed Collections in respect of any Pool Receivable relating to a Receivable Pool is determined as provided in clause (2) above, upon the payment or deemed payment of such Deemed Collections, the portion of the RPA Deferred Purchase
Price relating to such Pool Receivable shall be deemed to be fully satisfied and discharged, without any further action on the part of any Person. Notwithstanding anything to the contrary set forth herein (including, without limitation, Sections
3.2(a)(ii), 7.3(b), 7.6(a) and 7.6(b) and 8.2(b)), neither the Servicer nor any Seller shall permit any Obligor with respect to an ISC Receivable to extend, amend, terminate, waive or otherwise modify the related ISC Contract or the Upgrade Program
in a manner that reduces the Unpaid Balance of such ISC Receivable unless prior to any such extension, amendment, termination, waiver or modification a corresponding Deemed Collection payment equal to the amount of such reduction in respect of the
related Pool Receivable is made in connection therewith. 
 (b) The Sellers’ Optional Reduction of Purchasers’
Pool Investment. The Sellers may at any time and from time to time elect to reduce (in whole or in part) Purchasers’ Pool Investment relating to any Receivable Pool as follows: 

(i) the Servicer (on behalf of the Sellers) shall give the Collateral Agent and each Administrative Agent at least five
(5) Business Days’ prior written notice (which shall be in substantially the form of Schedule 3.2(b) hereto) of such elected reduction (including the amount of such proposed reduction and the proposed date on which such reduction
will commence); 

  
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 (ii) on the proposed date of commencement of such reduction and on each day
thereafter, the Servicer shall refrain from making Reinvestments of Collections pursuant to Section 1.3 in respect of such Receivable Pool until the amount thereof not so reinvested shall equal the desired amount of reduction; and 

(iii) the Servicer shall hold such Collections in trust for Purchasers, pending payment to the applicable Purchaser Agents, as
provided in Section 1.3; provided, that, 
 (A) the amount of any such reduction shall be not less than
$10,000,000 and shall be an integral multiple of $100,000; and 
 (B) each Seller shall use reasonable efforts to choose a
reduction amount, and the date of commencement thereof, so that such reduction shall commence and conclude in the same Settlement Period. 

(c) The Sellers’ Optional Permanent Reduction of Purchase Facility. The Sellers may, upon at least thirty
(30) days’ prior written notice to the Collateral Agent and each Administrative Agent, terminate the Purchase Facility and the Purchasers’ Total Commitment in whole without penalty or premium (other than any amounts payable pursuant
to Section 4.3) or, the Sellers may, upon at least ten (10) Business Days’ prior written notice to the Collateral Agent and each Administrative Agent, from time to time, irrevocably reduce in whole or part without penalty or
premium the unused portion of the Purchasers’ Pool Commitment in respect of any Receivable Pool; provided, that each partial reduction shall be in the amount of at least $10,000,000, or an integral multiple of $100,000 in excess thereof, and
that, unless terminated in whole, the Purchasers’ Total Commitment shall in no event be reduced below $500,000,000. Any such partial reduction of the Purchasers’ Pool Commitment in respect of any Receivable Pool shall be ratably allocated
(based on then-existing Pool Commitments) among the Committed Purchasers to reduce their respective Pool Commitments in respect of such Receivable Pool. No termination of the Purchase Facility in whole shall be effective unless and until the
Purchasers’ Total Investment is reduced to zero and all other Obligations and other amounts owed to the Collateral Agent, the Administrative Agents, the Purchaser Agents, the Purchasers and the other Affected Parties under this Agreement and
each of the other Transaction Documents have been paid in full. Notwithstanding anything to the contrary set forth in this Agreement, any reduction of the Purchase Facility or the Purchasers’ Total Commitment pursuant to this
Section 3.2(c) shall be on a pro rata basis in respect of each Receivable Pool. 
 (d) No Reinvestments if
Purchasers’ Total Investment is Zero. Notwithstanding anything to the contrary set forth herein (including Section 3.1), after 

  
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giving effect to any reduction of the Purchasers’ Total Investment to zero, so long as there are no outstanding Obligations, no further Reinvestments shall be made in respect of any
Receivable Pool and all Collections shall immediately be paid to the Sellers as the RPA Deferred Purchase Price, in accordance with Section 1.3 unless and until a new Purchase is made in accordance with Sections 1.1 and
1.2. 
 SECTION 3.3 Payments and Computations, Etc. 

(a) Payments. All amounts to be paid to, or deposited by any Seller, the Servicer or Sprint Corporation with, the
Collateral Agent, any Administrative Agent, any Purchaser Agent or any other Person hereunder (other than amounts payable under Sections 3.3(e) and 4.2) shall be paid or deposited in accordance with the terms hereof no later than 11:00
a.m. (New York City time) on the day when due in U.S. Dollars in same day funds to the applicable account set forth on Schedule I or to such other account as the Collateral Agent, any Administrative Agent or any Purchaser Agent, as
applicable, shall designate in writing to the Servicer from time to time. 
 (b) Late Payments. The Sellers or the
Servicer, as applicable, shall, out of amounts set aside pursuant to Section 1.3 for such purpose and to the extent permitted by Law, pay to the applicable Purchaser Agent, for the benefit of the applicable Affected Party, interest on
all amounts not paid or deposited by such party on the date when due hereunder at an annual rate equal to 2.00% above the Base Rate, payable on demand, provided, that such interest rate shall not at any time exceed the maximum rate permitted
by applicable Law. 
 (c) Method of Computation. All computations of interest, Yield, SCC Liquidation Discount, SCC
Yield Reserve, ISC Yield and Fee Reserve, any fees payable under Section 4.1 and any other fees payable by the Sellers to the Collateral Agent, any Purchaser, any Purchaser Agent, any Administrative Agent or any other Affected Party in
connection with Purchases hereunder shall be made on the basis of a year of 360 days for the actual number of days (including the first day but excluding the last day) elapsed (except that calculations with respect to the Prime Rate shall be on the
basis of a year of 365 or 366 days, as the case may be). 
 (d) Payment of Currency and Setoff. All payments by the
Sellers or the Servicer to any Affected Party or any other Person shall be made in U.S. Dollars and without set-off or counterclaim. Any of the Sellers’ or the Servicer’s obligations hereunder shall not be satisfied by any tender or
recovery of another currency except to the extent such tender or recovery results in receipt of the full amount of U.S. Dollars. 

(e) Taxes. 

(i) Except to the extent required by applicable Law, any and all payments and deposits required to be made hereunder, under any
other Transaction Document or under any instrument delivered hereunder or thereunder to any Affected Party or otherwise hereunder or thereunder by any Seller or the Servicer shall be made free and clear of, and without withholding or deduction

  
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for, any and all present or future Indemnified Taxes. If any Seller or the Servicer shall be required by applicable Law to make any such withholding or deduction, (A) such Seller (or the
Servicer, on its behalf) shall make an additional payment to such Affected Party, in an amount sufficient so that, after making all required withholdings or deductions (including withholdings or deductions applicable to additional sums payable under
this Section 3.3(e)), such Affected Party receives an amount equal to the sum it would have received had no such withholdings or deductions been made, (B) such Seller (or the Servicer, on its behalf) shall make such deductions and
(C) such Seller (or the Servicer, on its behalf) shall pay the full amount deducted to the relevant taxation authority or other Governmental Authority in accordance with applicable Law. 

(ii) The Sellers will indemnify each Affected Party for the full amount of (A) Indemnified Taxes (including any
Indemnified Taxes imposed by any jurisdiction on amounts payable under this Section) paid by such Affected Party, as the case may be, and any reasonable expenses payable by such Affected Party arising therefrom or with respect thereto; and
(B) any incremental U.S. federal income or withholding Taxes or state or local Taxes measured by net income that arise because a Purchase of any Asset Portfolio is not treated by a taxing authority as intended for purposes of U.S. federal
income Tax or state or local Taxes measured by net income under Section 1.2(d)(ii)(A) (such indemnification described in this clause (B) will include U.S. federal income and withholding Taxes and state and local Taxes measured by
net income necessary to make such Affected Party whole on an after-tax basis taking into account the taxability of receipt of payments under this clause (B) and any reasonable expenses (other than Taxes) arising out of, relating to, or
resulting from the foregoing); provided, however, that no Affected Party shall be entitled to indemnification under this clause (B) for Taxes other than Taxes attributable solely and directly to income derived from the
transactions effectuated by the Transaction Documents. Notwithstanding anything to the contrary in this Agreement, no Affected Party shall recover, whether through a payment of additional amounts pursuant to Section 3.3(e)(i) or a
payment pursuant to the indemnification obligations of this Section 3.3(e)(ii), more than once for any Tax imposed. Any indemnification under this Section 3.3(e)(ii) shall be paid on the next Settlement Date (or during the
Liquidation Period or after the occurrence of an Event of Termination, Collection Control Event or Non-Reinvestment Event that remains continuing, within two (2) Business Days) after the date any Affected Party makes written demand therefor,
together with a statement of reasons for such demand and the calculations of such amount. Such calculations, if made in good faith, absent manifest error, shall be final and conclusive on all parties. 

(iii) Within 10 days after the date of any payment of Taxes withheld by any Seller or the Servicer, as applicable, in respect
of any payment to any Affected Party, such Seller(s) or the Servicer, as applicable, will furnish to the Administrative Agents, the original or a certified copy of a receipt evidencing payment thereof (or other evidence reasonably satisfactory to
the Administrative Agents). 

  
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 (iv) Without prejudice to the survival of any other agreement contained herein,
the agreements and obligations contained in this Section shall survive the payment in full of Obligations hereunder. 

(v) (A) Any Affected Party that is entitled to an exemption from or reduction of withholding Tax with respect to payments made
under any Transaction Document shall deliver to the Servicer (on behalf of the Sellers) and the Administrative Agents, at the time or times reasonably requested by any Seller or the Servicer and at the time or times prescribed by applicable Law,
such properly completed and executed documentation reasonably requested by any Seller or the Servicer as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Affected Party, if reasonably
requested by any Seller or the Servicer, shall deliver such other documentation prescribed by applicable Law or reasonably requested by any Seller or the Servicer as will enable such Seller or the Servicer to determine whether or not such Affected
Party is subject to backup withholding or information reporting requirements. Notwithstanding the foregoing, submission of such documentation (other than any documentation required by clause (B) below) shall not be required if in the
Purchaser’s reasonable judgment such completion, execution or submission would subject such Purchaser to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Purchaser. 

(B) Without limiting the generality of the foregoing, 

(1) Each Affected Party that is not a “United States person,” within the meaning of Section 7701(a)(30)
of the Code, shall, on or before the date it becomes a party to this Agreement, deliver to the Servicer (on behalf of the Sellers) and the SCC Administrative Agent such certificates, documents or other evidence, as required by the Code or Treasury
Regulations issued pursuant thereto, including Internal Revenue Service Form W-8BEN, Form W-8BEN-E, Form W-8ECI, W-IMY (or any successor form), with appropriate attachments, or any other applicable certificate or statement of exemption, properly
completed and duly executed by such Affected Party establishing that any payment made or deemed made to such Affected Party is (i) not subject to United States Federal withholding Tax under the Code because such payments are effectively
connected with the conduct by such Affected Party of a trade or business in the United States, (ii) exempt or entitled to a reduction from United States Federal withholding tax under a provision of an applicable Tax treaty, (iii) eligible
for the benefits of the exemption for portfolio interest under Section 881(c) of the Code, in which case such Affected Party shall also deliver a certificate to the effect that such Affected Party is not (A) a “bank”
within the meaning of Section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder” 

  
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of any Seller, within the meaning of Section 881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code, or
(iv) made to a person who is not the beneficial owner of the payments. In addition, each such Affected Party shall, if legally able to do so, thereafter deliver such certificates, documents or other evidence from time to time establishing that
payments received hereunder are not subject to, or subject to a reduced rate of, such withholding upon receipt of a written request therefor from a Seller or the SCC Administrative Agent. 

(2) Each Affected Party that is a “United States person,” shall, on or before the date it becomes a party to
this Agreement, deliver to the Servicer (on behalf of the Sellers) and the SCC Administrative Agent such certificates, documents or other evidence, as required by the Code or Treasury Regulations issued pursuant thereto, including Internal Revenue
Service Form W-9 (or any successor form) or any other applicable certificate or statement of exemption properly completed and duly executed by such Affected Party establishing that payment made to such Affected Party is not subject to United States
Federal backup withholding Tax under the Code. In addition, each such Affected Party shall, if legally able to do so, thereafter deliver such certificates, documents or other evidence from time to time establishing that payments received hereunder
are not subject to such withholding upon receipt of a written request therefor from any Seller or the SCC Administrative Agent. 

(3) Each Affected Party that is entitled to any exemption or reduction of non-U.S. withholding tax with respect to any payment
under this Agreement shall, on or before the date it becomes a party to this Agreement, deliver to the Servicer (on behalf of the Sellers) and the SCC Administrative Agent such certificates, documents or other evidence as may reasonably be requested
by the Servicer (on behalf of the Sellers) or the SCC Administrative Agent, establishing that such payment is not subject to, or is subject to a reduced rate of, withholding. In addition, each such Affected Party shall, if legally able to do so,
thereafter deliver such certificates, documents or other evidence from time to time establishing that payments received hereunder are not subject to such withholding, or are subject to a reduced rate of withholding, upon receipt of a written request
therefor from the Servicer (on behalf of the Sellers) or the SCC Administrative Agent. 
 (4) If a payment made to an
Affected Party under any Transaction Document would be subject to U.S. federal 

  
 29 

 
withholding Tax imposed by FATCA if such Affected Party 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 Affected Party shall deliver to the Sellers (or the Servicer on behalf of the Sellers) and the SCC Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the
Sellers (or the Servicer on behalf of Sellers) or the SCC Administrative Agent such documentation prescribed by applicable Law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably
requested by the Sellers (or the Servicer on behalf of Sellers) or the SCC Administrative Agent as may be necessary for the Sellers (or the Servicer on behalf of the Sellers) and the SCC Administrative Agent to comply with their obligations under
FATCA and to determine that such Affected Party has complied with such Affected Party’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. 

(vi) For purposes of this Section 3.3(e), “applicable Law” includes FATCA. 

(vii) Any Affected Party claiming compensation under Section 4.2(a) or any Indemnified Taxes or additional amounts
payable pursuant to this Section 3.3 shall use reasonable efforts (consistent with its internal policies and legal and regulatory restrictions) to, at the expense of the Servicer, file any certificate or document reasonably requested in
writing by any Seller or the Servicer or to change the jurisdiction of its applicable lending office if the making of such a filing or change would avoid the need for or reduce the amount of any such additional amounts which may thereafter accrue
and would not, in the sole determination of such Affected Party, be otherwise disadvantageous to such Affected Party. 

(viii) If any Affected Party receives a refund in respect of any Indemnified Taxes as to which it has been indemnified by any
Seller or with respect to which any Seller has paid additional amounts, in each case pursuant to this Section, it shall promptly repay such refund to such Seller (to the extent of amounts that have been paid by such Seller (or the Servicer, on its
behalf) under this Section with respect to such refund), net of all out-of-pocket expenses (including Taxes imposed with respect to such refund) of such Affected Party and without interest (other than interest paid by the relevant taxing
authority with respect to such refund); provided, however, that each Seller (or the Servicer, on its behalf) upon the request of such Affected Party, agrees to return such refund (plus penalties, interest or other charges) to such
Affected Party in the event such Affected Party or the SCC Administrative Agent is required to repay such refund. Nothing in this Section shall obligate any Affected Party to apply for any such refund. 

  
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 (ix) Subject to the provisions of this Section 3.3, if any Affected
Party shall, to its knowledge, have received notice of any attempt by a taxing authority to impose or collect any Indemnified Tax from such Affected Party, such Affected Party shall use commercially reasonable efforts to notify the Servicer (on the
Sellers’ behalf) of such attempt, and the Sellers shall, provided that the Sellers shall first deposit with the applicable Purchaser Agent amounts sufficient to indemnify the Affected Party as provided under Section 3.3(e)(ii), have
the right, at their sole expense, (A) if such Affected Party is contesting the imposition of any such Tax in good faith by appropriate proceedings, to be kept reasonably informed by such Affected Party about the progress of such proceedings or
(B) if such Affected Party is not so contesting, to initiate any proceedings resisting or objecting to the imposition or collection of any such Tax. 

(x) The Servicer (on behalf of the Sellers) shall pay, or at the option of the SCC Administrative Agent timely reimburse it for
the payment of, Other Taxes. 
 (xi) Nothing contained in this Section shall require any Affected Party to make
available any of its Tax returns (or any other information relating to its Taxes which it deems to be confidential). 
 (xii)
For purposes of this Section 3.3, the term “Affected Party” shall include any assignee pursuant to Section 13.3(c) or 13.3(d). 

SECTION 3.4 Treatment of Collections and Deemed Collections. Subject to Section 3.2(a), the Sellers shall
immediately deliver to the Servicer all Deemed Collections, and the Servicer shall hold or distribute such Deemed Collections in accordance with the terms hereof as if such Collections had actually been received on the date of such delivery to the
Servicer. So long as any Seller or the Servicer shall hold any Collections (including Deemed Collections) required to be paid to the Servicer, any Purchaser, any Purchaser Agent, the Collateral Agent, or any Administrative Agent, the Servicer shall
hold and apply such Collections in accordance with Section 1.3 and shall clearly mark its records to reflect the same. Each Seller shall promptly enforce all obligations of Originators under the Sale Agreement, including, payment of
Deemed Collections (as defined in the Sale Agreement). 
 SECTION 3.5 Extension of the Purchase Termination Date. Provided
that no Event of Termination, Unmatured Event of Termination, Collection Control Event or Non-Reinvestment Event has occurred and is continuing, no earlier than six months prior to (but no later than 60 days prior to) the then current Purchase
Termination Date, the Sellers may request an extension of the then current Purchase Termination Date by submitting a request for an extension (each, an “Extension Request”) to the Collateral Agent, each Administrative Agent, and
each Purchaser Agent. Such Extension Request must specify (i) the new proposed Purchase Termination Date requested by the Sellers and (ii) the date (which must be at least 45 days after the applicable Extension Request is delivered to the
Collateral Agent, each Administrative Agent, and each Purchaser Agent) as of which each Purchaser is requested to respond to such Extension Request by (each, a “Response Date”). Promptly upon receipt of an Extension Request, each
Purchaser Agent (on behalf of its Purchasers) shall notify the Servicer (on behalf 

  
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of the Sellers) as to whether each Purchaser in its Purchaser Group approves such Extension Request (it being understood that each Purchaser in a Purchaser Group may accept or decline such
Extension Request in its sole discretion). The failure of any Purchaser to affirmatively notify the Servicer (on behalf of the Sellers) of such Purchaser’s election regarding such Extension Request by the applicable Response Date shall be
deemed to be a refusal by such Purchaser to grant the requested extension. In the event that any Purchaser shall approve such Extension Request, each such Purchasers and the other parties hereto that approved such Extension Request shall enter into
such documents as such Purchasers may deem necessary or appropriate to reflect such extension with respect to such Purchasers. In the event that any Purchaser declines an Extension Request (any such declining Purchaser, an “Exiting
Purchaser”), such Exiting Purchaser shall so notify the Servicer (on behalf of the Sellers), the Collateral Agent, each Administrative Agent and each of the other parties hereto of such Exiting Purchaser’s determination. If any
Committed Purchaser becomes an Exiting Purchaser, such Committed Purchaser’s Pool Commitments in respect of both Receivable Pools shall automatically be reduced to zero on the then-current Purchase Termination Date, without giving effect to any
other Purchaser’s agreement to extend the Purchase Termination Date, if any. 
 ARTICLE IV 

FEES AND YIELD PROTECTION 

SECTION 4.1 Fees. From the Closing Date until the Final Payment Date, the Sellers shall pay to each Administrative Agent, each
Purchaser Agent and each Purchaser, as applicable, all fees specified in the Fee Letters. 
 SECTION 4.2 Yield Protection.

 (a) If any Change in Law: 

(i) shall subject an Affected Party to any duty or other charge (other than Taxes, which shall be governed by
Section 3.3(e)) with respect to any Investment or interest in any Asset Portfolio owned, maintained or funded by it (or its participation in any of the forgoing), or any obligations or right to make Purchases or Reinvestments or to
provide funding or maintenance therefor (or its participation in any of the foregoing); 
 (ii) shall impose, modify or deem
applicable any reserve, special deposit or similar requirement against assets of any Affected Party, deposits or obligations with or for the account of any Affected Party or with or for the account of any Affiliate (or entity deemed by the Federal
Reserve Board or other Governmental Authority to be an affiliate) of any Affected Party, or credit extended by any Affected Party; 

(iii) shall impose any other condition affecting any Investment or any Asset Portfolio owned, maintained or funded in whole or
in part by any Affected Party, or its obligations or rights, if any, to make (or participate in) Purchases or Reinvestments or to provide (or participate in) funding therefor or the maintenance thereof; 

  
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 (iv) shall change the rate for, or changes the manner in which the Federal
Deposit Insurance Corporation (or a successor thereto) or similar Person assesses, deposit insurance premiums or similar charges which an Affected Party is obligated to pay; or 

(v) shall (i) change the amount of capital maintained or required or requested or directed to be maintained by any
Affected Party or (ii) subject any Affected Party to any Taxes (other than (A) Indemnified Taxes and (B) Excluded Taxes) on its Purchases, Asset Portfolios, commitments, or other obligations, or its deposits, reserves, other
liabilities or capital attributable thereto; 
 and the result of any of the foregoing is or would be, in each case, as determined by the applicable
Purchaser Agent or the applicable Affected Party: 
 (A) to increase the cost to (or impose a cost on) (1) an Affected
Party funding or making or maintaining any Purchases or Reinvestments, any purchases, reinvestments, or loans or other extensions of credit under any Liquidity Agreement, any Enhancement Agreement or any commitment (hereunder or under any Liquidity
Agreement or any Enhancement Agreement) of such Affected Party with respect to any of the foregoing, or (2) the Collateral Agent, any Purchaser Agent or any Administrative Agent for continuing its relationship with any Purchaser; 

(B) to reduce the amount of any sum received or receivable by an Affected Party under this Agreement, any Liquidity Agreement
or any Enhancement Agreement (or its participation in any such Liquidity Agreement or Enhancement Agreement) with respect thereto; or 

(C) to reduce the rate of return on the capital of such Affected Party as a consequence of its obligations hereunder, under
any Liquidity Agreement or under any Enhancement Agreement (or its participation in any such Liquidity Agreement or Enhancement Agreement), including its funding or maintenance of any portion of any Investment or any Asset Portfolio, or arising in
connection herewith (or therewith) to a level below that which such Affected Party could otherwise have achieved hereunder or thereunder, 
 then, subject
to Section 4.2(d) below, on the Settlement Date (or during the Liquidation Period or after the occurrence of an Event of Termination, Collection Control Event or Non-Reinvestment Event that remains continuing, within two
(2) Business Days) following its receipt of notice from such Affected Party (or by an Administrative Agent or a Purchaser Agent on its behalf) in accordance with Section 4.2(c), the Sellers shall pay directly to such Affected Party
such additional amount or amounts as will compensate such Affected Party for such additional or increased cost or such reduction. 

  
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 (b) Each Affected Party (or an Administrative Agent or a Purchaser Agent on its
behalf), shall promptly notify the Servicer (on behalf of the Sellers) and each Administrative Agent of any event of which it has knowledge which will entitle such Affected Party to compensation pursuant to this Section 4.2;
provided, that no failure to give or delay in giving such notification shall adversely affect the rights of any Affected Party to such compensation; provided that the Sellers shall not be required to compensate an Affected Party for
any increased costs or reductions incurred more than six months prior to the date that such Affected Party notifies the Sellers of such event giving rise to such increased costs or reductions and of such Affected Party’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. 
 (c) In determining any amount provided for or referred to in this Section 4.2, an Affected
Party may use any reasonable averaging and attribution methods that it, in its sole discretion, shall deem applicable. Any Affected Party (or an Administrative Agent or a Purchaser Agent on its behalf) when making a claim under this
Section 4.2 shall submit to the Servicer (on behalf of the Sellers) and the Administrative Agents a written statement of such increased cost or reduced return, which statement, in the absence of manifest error, shall be conclusive and
binding so long as it reflects a reasonable basis for the calculation of the amounts set forth therein. 
 (d) Failure or
delay on the part of any Affected Party (or any Administrative Agent or any Purchaser Agent) to demand compensation pursuant to this Section 4.2 shall not constitute a waiver of such Affected Party’s (or any Administrative
Agent’s or any Purchaser Agent’s on its behalf) right to demand such compensation; provided that the Sellers shall not be required to compensate an Affected Party for any increased costs or reductions incurred more than six months
prior to the date that such Affected Party notifies the Sellers of the event giving rise to such increased costs or reductions and of such Affected Party’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. 

(e) Notwithstanding anything to the contrary set forth in this Agreement, Sellers shall not be liable to any member of any
Purchaser Group for any amounts under this Section 4.2 caused by delivery of a Delayed Purchase Notification by any member of such Purchaser Group. 

SECTION 4.3 Funding Losses. If any Affected Party incurs any cost, loss or expense (including any loss or expense incurred by
reason of the liquidation or reemployment of deposits or other funds acquired by such Affected Party), at any time, as a result of (a) any optional or required settlement or repayment with respect to any Purchaser’s Tranche Investment of
any Rate Tranche, howsoever funded, being made on any day other than the scheduled last day of an applicable Yield Period with respect thereto, (b) any Purchase not being completed by the Sellers in accordance with its request therefor under
Section 1.2, (c) the failure to exercise or complete (in accordance with Section 3.2(b)) any reduction in Purchasers’ Total Investment or 

  
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Purchasers’ Pool Investment elected to be made under Section 3.2(b), (d) any reduction in Purchasers’ Total Investment or Purchasers’ Pool Investment elected under
Section 3.2(b) exceeding the total amount of Rate Tranches, howsoever funded, with respect to which the last day of the related Yield Period is the date of such reduction or (e) the failure to reduce Purchasers’ Total
Investment or Purchasers’ Pool Investment, then, upon written notice from such Affected Party (or any Administrative Agent or a Purchaser Agent on its behalf) to the Servicer (on behalf of the Sellers), the Sellers shall pay to the Servicer,
and the Servicer shall pay to the applicable Purchaser Agent for the account of the applicable Affected Parties, on the next Settlement Date (or during the Liquidation Period, after the occurrence of an Event of Termination, Collection Control Event
or Non-Reinvestment Event that remains continuing, within two (2) Business Days from the receipt of such notice) the amount of such cost, loss or expense. Such written notice shall, in the absence of manifest error, be conclusive and binding
upon Seller and the Servicer so long as it reflects a reasonable basis for the calculation of the amounts set forth therein. If an Affected Party incurs any cost, loss or expense (including any loss or expense incurred by reason of the liquidation
or reemployment of deposits or other funds acquired by such Affected Party), at any time, and is not entitled to reimbursement for such loss or expense in the manner set forth above, such Affected Party shall individually bear such loss or expense
without recourse to, or payment from, any other Affected Party. Notwithstanding anything to the contrary set forth in this Agreement, Sellers shall not be liable to any member of any Purchaser Group for any costs, losses or expenses in this
Section 4.3 caused by delivery of a Delayed Purchase Notification by any member of such Purchaser Group. 
 SECTION 4.4
Removal of Purchasers. If a Removal Event has occurred with respect to any Purchaser Group then, at any time during the 30-day period immediately following such occurrence so long as no Event of Termination, Unmatured Event of Termination,
Collection Control Event or Non-Reinvestment Event has occurred and remains continuing, the Sellers may, at their sole expense and effort (including payment of any applicable processing and recordation fees), upon notice to the Collateral Agent, the
related Purchaser Agent and each Administrative Agent, require all Purchasers in such Purchaser Group to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in this Agreement), all of their respective
interests, rights and obligations under this Agreement and the other Transaction Documents to a willing assignee that is an Eligible Assignee and that shall assume such interests, rights and obligations (which assignee may be another Conduit
Purchaser or Committed Purchaser, as applicable, if such Purchaser accepts such assignment in its sole discretion) pursuant to a written agreement reasonably acceptable to the Collateral Agent and the Administrative Agents and the assigning
Purchasers; provided, that (x) the Sellers shall have received the prior written consent of the Collateral Agent and each Administrative Agent with respect to any assignee that is not already a member of a Purchaser Group hereunder,
which consent shall not unreasonably be withheld, conditioned or delayed and (y) each member of such assigning Purchaser Group shall have received payment of an amount equal to all outstanding Investments and Yield in respect thereof, accrued
fees and all other amounts to it hereunder, from the assignee or the Sellers; provided, further, that any such assigning Purchaser shall be a beneficiary of any of this Agreement’s terms that expressly survive termination of this
Agreement; and provided, still further, that if the Person then serving as the Collateral Agent and/or an Administrative Agent is a member of the Purchaser Group being removed pursuant to this Section, such Person shall cease to
be an Administrative Agent and/or Collateral Agent, as applicable, upon the foregoing assignment and such assignment shall not be effective until a 

  
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successor Collateral Agent and/or Administrative Agent, as the case may be, has been appointed by the Required Purchasers and has accepted such appointment and assumed all of the obligations of
such Person. 
 SECTION 4.5 Non-Reinvestment Events. The following events shall be “Non-Reinvestment Events” in
respect of each Receivable Pool hereunder and any such event occurring with respect to one Receivable Pool shall constitute a Non-Reinvestment Event with respect to all Receivable Pools: 

(a) the average of the SCC Delinquency Ratios for the SCC Receivable Pool for the three preceding Settlement Periods shall at
any time exceed 3.50%; 
 (b) the average of the SCC Loss Ratios for the SCC Receivable Pool for the three preceding
Settlement Periods shall at any time exceed 6.50%; 
 (c) the average of the SCC Dilution Ratios for the three preceding
Settlement Periods shall at any time exceed 8.00%; 
 (d) the average of the SCC Loss-to-Liquidation Ratios for the three
preceding Settlement Periods shall at any time exceed 4.50%; 
 (e) the average ISC Delinquency Ratios in respect of the ISC
Receivable Pool for the three preceding Settlement Periods shall at any time exceed 6.50%; 
 (f) the average of the ISC Loss
Ratios in respect of the ISC Receivable Pool for the three preceding Settlement Periods shall at any time exceed 7.25%; or 

(g) at any time, either (i) the sum of the aggregate Purchasers’ Pool Investment and the Required Reserves in respect
of the ISC Receivable Pool exceeds the Net Portfolio Balance of the ISC Receivable Pool or (ii) Purchasers’ Pool Investment in respect of such Receivable Pool exceeds the Purchasers’ Pool Commitment in respect of such Receivable Pool,
in either case, and such circumstance shall not have been cured within three (3) consecutive Business Days after the earlier of the date (A) such Person receives notice of such failure from the applicable Administrative Agent, or
(B) a Responsible Officer obtains actual knowledge of such failure; or 
 (h) at any time, either (i) the sum of
the aggregate Purchasers’ Pool Investment and the Required Reserves in respect of the SCC Receivable Pool exceeds the Net Portfolio Balance of the SCC Receivable Pool or (ii) Purchasers’ Pool Investment in respect of such Receivable
Pool exceeds the Purchasers’ Pool Commitment in respect of such Receivable Pool, in either case, and such circumstance shall not have been cured within three (3) consecutive Business Days after the earlier of the date (A) such Person
receives notice of such failure from the applicable Administrative Agent or (B) a Responsible Officer obtains actual knowledge of such failure. 

A Non-Reinvestment Event shall be deemed to be continuing until waived in writing by the Collateral Agent, each Administrative Agent and the
Required Purchasers. Unless an Event of Termination, Unmatured Event of Termination, Collection Control Event or Non-Reinvestment 

  
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Event has occurred and remains continuing, upon the request of the Servicer following each period of 6 calendar months occurring after the Closing Date, (i) the SCC Administrative Agent and
the Purchaser Agents agree to review the percentages set forth in clauses (a) through (d) above with the Servicer in light of the historical and anticipated character and performance of the SCC Pool Receivables to determine whether any
changes to such percentages are necessary or appropriate at such time, and (ii) the ISC Administrative Agent and the Purchaser Agents agree to review (x) the percentages set forth in clauses (e) through (f) above with the
Servicer and (y) the ISC Advance Rates and the ISC Advance Rate Matrix, in each case, in light of the historical and anticipated character and performance of the ISC Pool Receivables to determine whether any changes to such percentages, ISC
Advance Rates and the ISC Advance Rate Matrix are necessary or appropriate at such time; provided, however, that none of the Administrative Agents or the Purchaser Agents shall be obligated to make any such change except in their business judgment,
and any such change may be effected only by an amendment to this Agreement in accordance with Section 13.1. 
 ARTICLE V 

CONDITIONS OF PURCHASES 

SECTION 5.1 Conditions Precedent to Effectiveness. The effectiveness of this amendment and restatement of the Original RPA as
set forth in this Agreement is subject to the conditions precedent that the Collateral Agent and each Administrative Agent shall have received (unless otherwise waived), each of the following in form and substance reasonably satisfactory to the
Collateral Agent, each Administrative Agent and each Purchaser Agent: 
 (a) a copy of the resolutions or unanimous written
consents, as applicable, of the board of directors or managers or member (or any authorized sub-committee), as the case may be, of each of the Sellers, Originators, the Servicer and Sprint Corporation required to authorize the execution, delivery
and performance by it of each Transaction Document to be delivered by it hereunder, certified by its secretary or any other authorized person; 

(b) good standing certificates (or the equivalent) for each Seller, Originator (if applicable), the Servicer and Sprint
Corporation issued by the Secretary of State (or the equivalent) of the jurisdiction in which each such entity is organized; 

(c) a certificate of the secretary or assistant secretary of each of the Sellers, Originators, the Servicer and Sprint
Corporation certifying the names and true signatures of the officers authorized on its behalf to sign this Agreement and the other Transaction Documents, as applicable, to be delivered by it hereunder (on which certificate the Collateral Agent, each
Administrative Agent and each Purchaser may conclusively rely until such time as such party shall have received from Sellers, Originators, Servicer and Sprint Corporation, as the case may be, a revised certificate meeting the requirements of this
clause (c)); 

  
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 (d) copies of the certificates of incorporation or formation (or the equivalent)
of each of the Sellers, Originators, the Servicer and Sprint Corporation duly certified by the Secretary of State (or the equivalent) of the jurisdiction in which each such entity is organized, together with a copy of the by-laws, limited liability
company agreement (or the equivalent), all of the foregoing duly certified by the secretary or an assistant secretary of each such Person; 

(e) a search report by a nationally recognized search firm provided in writing to the Collateral Agent and each Administrative
Agent by the Servicer listing all financing statements, state and federal tax or ERISA liens and judgments that name any Seller or any Originator as debtor and that are filed in the jurisdictions in which filings were made pursuant to clause
(f) and any other jurisdictions that the Collateral Agent or any Administrative Agent shall reasonably request together with copies of such financing statements; 

(f) copies of proper financing statements (form UCC-3) (including amendment and termination statements) and release
documentation each in form and substance reasonably satisfactory to the Collateral Agent and each Administrative Agent with respect to any financing statement included in the search report described in clause (e) above, to the extent
that any such financing statement set forth therein covers any Pool Receivables or Related Assets, other than financing statements filed pursuant to clauses (e) and (f) of Section 5.1 of the Original RPA; 

(g) proper financing statements (form UCC-3) to be filed under the UCC, amending each of the financing statements filed
described in clause (e) and (f) of Section 5.1 of the Original RPA, in order to reflect the inclusion of the ISC Receivables and the change of the “secured party” to the Collateral Agent; 

(h) duly executed copies of Lock-Box Agreements with each Lock-Box Bank and amendments thereto to reflect the change from the
SCC Administrative Agent as a party thereto to the Collateral Agent; 
 (i) opinions (including with respect to creation and
perfection of security interests (under the applicable UCC); non-consolidation and true sale matters; and other standard corporate opinions reasonably required by the Collateral Agent and each Administrative Agent; 

(j) completion of satisfactory due diligence in respect of the ISC Receivable Pool by Purchasers, Purchaser Agents, the
Collateral Agent and the Administrative Agents; 
 (k) a pro forma Information Package, prepared in respect of the
proposed initial Purchase, in form and substance reasonably satisfactory to the Collateral Agent and each Administrative Agent, which shall include, without limitation, the initial ISC Cap Reserve Amount computed two (2) Business Days prior to
the Restatement Effective Date; 
 (l) duly executed copies of the Transaction Documents; 

  
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 (m) payment by or on behalf of the Sellers of each Purchaser’s, each
Purchaser Agent’s, the Collateral Agent’s and each Administrative Agent’s reasonable documented out-of-pocket costs and expenses required to be reimbursed hereunder; and 

(n) such other agreements, instruments, certificates, opinions and other documents as the Collateral Agent or any
Administrative Agent may reasonably request. 
 SECTION 5.2 Conditions Precedent to All Purchases and Reinvestments. Each
Purchase (including the initial Purchase) and each Reinvestment hereunder in respect of a Receivable Pool shall be subject to the further conditions precedent that on the date of such Purchase or Reinvestment, the following statements shall be true
(and the Sellers, by accepting the amount of such Purchase or by receiving the proceeds of such Reinvestment, shall be deemed to have certified that): 

(a) each of the representations and warranties contained in this Agreement and in each other Transaction Document are true and
correct in all material respects (without duplication as to any materiality modifiers, qualifications, or limitations applicable thereto) on and as of such day as though made on and as of such day and shall be deemed to have been made on such day
(except to the extent such representations and warranties explicitly refer solely to an earlier date, in which case they shall be true and correct as of such earlier date); 

(b) no event has occurred, or would result from such Purchase or Reinvestment, that constitutes an Event of Termination, an
Unmatured Event of Termination, Collection Control Event or Non-Reinvestment Event that remains continuing; 
 (c) the
Purchase Termination Date has not occurred; 
 (d) no Amdocs Performance Event has occurred and is continuing; and 

(e) no Amdocs Event has occurred and is continuing unless (i) no Material Adverse Effect could reasonably be expected to
occur as a result of such Amdocs Event and (ii) either (x) the Amdocs Sub-Servicing Agreement requires Amdocs to continue servicing and collecting the Pool Receivables on substantially the same terms as in effect prior to such Amdocs Event
for a period equal to or exceeding ninety (90) days following the date of such Purchase or Reinvestment or (y) the Servicer or Sprint Corporation has engaged a replacement sub-servicer for Amdocs to service and collect the Pool
Receivables, which replacement is a reputable and experienced servicer of similar accounts receivable and is reasonably acceptable to the Collateral Agent and each Administrative Agent and the Required Purchaser Agents. 

  
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 ARTICLE VI 

REPRESENTATIONS AND WARRANTIES 

SECTION 6.1 Representations and Warranties of the Sellers. Each Seller represents and warrants, as of the Restatement Effective
Date and as of each date on which a Purchase or Reinvestment is made, as follows: 
 (a) Organization and Good
Standing. It has been duly organized in, and is validly existing and in good standing under the Laws of its state of organization, with organizational power and authority to own its properties and to conduct its business as such properties are
presently owned and such business is presently conducted. 
 (b) Due Qualification. It has obtained all necessary
licenses, approvals and qualifications, if any, in connection with its execution and delivery of the Transaction Documents to which it is a party and the performance by it of its obligations contemplated in the Transaction Documents, except to the
extent that the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 

(c) Power and Authority; Due Authorization. It (i) has all necessary power and authority to (A) execute and
deliver this Agreement and the other Transaction Documents to which it is a party in any capacity and (B) perform its obligations under the Transaction Documents applicable to it and (ii) has duly authorized by all necessary limited
liability company action the execution, delivery and performance of this Agreement and the other Transaction Documents to which it is a party. 

(d) Valid Sale; Binding Obligations. This Agreement constitutes an absolute and irrevocable valid sale, transfer, and
assignment of each Asset Portfolio to the Collateral Agent (on behalf of Purchasers), or, alternatively, a grant of a valid security interest in each Asset Portfolio to the Collateral Agent (on behalf of Purchasers), enforceable against creditors of
and purchasers from the Seller; and this Agreement and each other Transaction Document to which it is a party when duly executed and delivered by it will constitute its legal, valid and binding obligation enforceable against it in accordance with
its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or
at law. 
 (e) No Violation. The consummation of the transactions contemplated by this Agreement and the other
Transaction Documents and the performance by it of the terms hereof and thereof will not (i) violate or result in a default under, (A) its certificate of formation or limited liability company agreement, or (B) any indenture,
agreement or instrument binding on it or any of its properties, (ii) result in the creation or imposition of any Adverse Claim upon any of its assets pursuant to the terms of any such indenture, agreement or instrument to which it is a party or
by which it or any of its properties is bound, other than any Adverse Claim created in connection with this Agreement and the other Transaction Documents or (iii) violate in any material respect any Law applicable to it or its assets. 

  
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 (f) No Proceedings. There are no actions, suits or proceedings by or
before any arbitrator or Governmental Authority pending against or, to its actual knowledge, threatened against or affecting it (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) seeking to prevent the sale and assignment of any portion of any Asset Portfolio or the consummation of the purposes of this
Agreement or of any of the other Transaction Documents. 
 (g) Bulk Sales Act. No transaction contemplated hereby
requires compliance by any Seller with any bulk sales act or similar Law. 
 (h) Governmental Approvals. No
authorization or approval or other action by, and no notice to or filing with, any Governmental Authority is required for its due execution, delivery and performance of this Agreement or any other Transaction Document or the transactions
contemplated thereby, except for the filing of the UCC financing statements referred to in Article V and filings with the SEC to the extent required by applicable Law. 

(i) Use of Proceeds. The use of all funds obtained by it under this Agreement will not conflict with or contravene any
of Regulations T, U and X promulgated by the Board of Governors of the Federal Reserve System. 
 (j) Quality of
Title. It has acquired, for fair consideration and reasonably equivalent value, all of the right, title and interest of its Related Originators in each Pool Receivable originated by such Related Originators and the Related Assets. Each Pool
Receivable originated by such Related Originators and the Related Assets related thereto, is owned by it free and clear of any Adverse Claim (other than Permitted Adverse Claims and any Adverse Claim arising under any Transaction Document); and upon
any Purchase or Reinvestment, as applicable, the Collateral Agent (for the benefit of the Purchasers) shall have acquired and shall at all times thereafter continuously maintain a valid ownership interest or first priority perfected security
interest in each Pool Receivable, together with the Related Assets free and clear of any Adverse Claim (other than Permitted Adverse Claims and any Adverse Claim arising under any Transaction Document); and no valid effective financing statement or
other instrument similar in effect covering any Pool Receivable, any interest therein and the Related Assets is on file in any recording office except such as may be filed (i) in favor of any Originator or any Seller in accordance with the
Contracts or any Transaction Document (and assigned to the Collateral Agent), (ii) in favor of any Purchaser or the Collateral Agent in accordance with this Agreement or any Transaction Document or (iii) in connection with any Adverse
Claim arising solely as the result of any action taken by any Purchaser (or any assignee thereof) or by the Collateral Agent. 

  
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 (k) Accurate Reports. None of the reports, financial statements,
certificates or other information (other than forward-looking statements, projections and statements of a general industry nature, as to which no representation or warranty is made) furnished or to be furnished by or on behalf of it in writing
(including, without limitation, by electronic delivery) to any Administrative Agent, any Purchaser or any Purchaser Agent in connection with this Agreement or any other Transaction Document or any amendment hereto or delivered hereunder or
thereunder (as modified or supplemented by other information so furnished) including without limitation, the reports and information provided pursuant to Section 7.5(f) taken together with any information contained in the public filings
made by Sprint Corporation with the SEC pursuant to the 1934 Act 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 materially misleading. 
 (l) UCC Details. Its true legal name as registered in the sole jurisdiction in which it
is organized, the jurisdiction of such organization, its organizational identification number, if any, as designated by the jurisdiction of its organization, its federal employer identification number, if any, and the location of its chief executive
office and principal place of business are specified in Schedule 6.1(l) and the offices where it keeps all its Records are located at the addresses specified in Schedule 6.1(l) (or at such other locations, notified to the Collateral
Agent in accordance with Section 7.1(f)), in jurisdictions where all action required by Section 8.5 has been taken and completed. It has never had any, trade names, fictitious names, assumed names or “doing business
as” names and is “located” in Delaware for purposes of Section 9-307 of the UCC. It is organized only in a single jurisdiction. 

(m) Lock-Box Accounts. The names and addresses of all of the Lock-Box Banks, together with the account numbers of the
Lock-Box Accounts at such Lock-Box Banks, are specified in Schedule 6.1(m) (or have been notified to and approved by the Collateral Agent and each Administrative Agent in accordance with Section 7.3(d)). 

(n) Eligible Receivables. Each Pool Receivable relating to a Receivable Pool listed as an Eligible Receivable in any
Information Package or included as an Eligible Receivable in the calculation of Net Portfolio Balance for such Receivable Pool on any date is an Eligible Receivable as of the effective date of the information reported in such Information Package or
as of the date of such calculation, as the case may be. 
 (o) Adverse Change. (i) Since January 31,
2014, there has been no material adverse change in the value, validity, collectability or enforceability of all or a material portion of the Pool Receivables relating to any Receivable Pool and (ii) since the Closing Date, there has been no
Material Adverse Effect with respect to such Seller. 
 (p) Credit and Collection Policy. It has engaged the Servicer
to service the Pool Receivables relating to a Receivable Pool in accordance with the Credit and Collection Policy and all applicable Law. It has complied with all applicable Law except where the failure to do so, individually or in the aggregate,
could not reasonably be expected to result in a Material Adverse Effect. 

  
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 (q) Financial Information. All of its financial statements delivered to
any Administrative Agent in accordance with Section 7.2(a) present fairly, in all material respects, its actual financial position and results of operations as of the date and for the period presented or provided, in each case in
accordance with GAAP. 
 (r) Investment Company Act; Covered Fund. It is not (i) required to register as an
“Investment Company” or (ii) “controlled” by an “Investment Company”, in each case, under (and as defined in) the Investment Company Act. It is not a “covered fund” as defined in Section 619 of the
Dodd-Frank Wall Street Reform and Consumer Protection Act. In making the forgoing determinations, such Seller relies on the exemption from the definition of “investment company’ set forth in Section 3(c)(5) of the Investment Company
Act. 
 (s) No Other Obligations. It does not have outstanding any security of any kind except membership interests
issued to its Related Originators in connection with its organization and has not incurred, assumed, guaranteed or otherwise become directly or indirectly liable for, or in respect of, any Debt (other than Obligations of any other Seller) and no
Person has any commitment or other arrangement to extend credit to any Seller, in each case, other than as will occur in accordance with the Transaction Documents. 

(t) Representations and Warranties in Other Transactions Documents. It hereby makes for the benefit of the Collateral
Agent, each Administrative Agent, each Purchaser Agent and each Purchaser all of the representations and warranties that any Seller makes, in any capacity, in the other Transaction Documents to which any Seller is a party as if such representations
and warranties (together with the related and ancillary provisions) were set forth in full herein. 
 (u) Ordinary Course
of Business. Each remittance of Collections by or on behalf of such Seller to the Purchasers (or to the Collateral Agent, any Administrative Agent or any Purchaser Agent on their behalf) under this Agreement will have been (i) in payment of
a debt incurred by such Seller in the ordinary course of business or financial affairs of such Seller and (ii) made in the ordinary course of business or financial affairs of such Seller and the Purchasers. 

(v) Tax Matters. It has filed all federal income tax returns and all other material tax returns that are required to be
filed by it and has paid all taxes due pursuant to such returns or pursuant to any assessment received by it, except (i) for any such taxes or assessments, if any, that are being appropriately contested in good faith by appropriate proceedings
and with respect to which adequate reserves in conformity with GAAP have been provided, or (ii) to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse Effect. No tax lien has been filed, and, to
the actual knowledge of any Seller, no claim is being asserted, with respect to any such tax or assessment. 
 (w) Tax
Status. It has not made, at any time, any entity classification election under Treas. Reg. Sec. 301.7701-3 nor is it otherwise treated as an association or publicly traded partnership taxable as a corporation for U.S. federal income tax
purposes. To the 

  
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knowledge of any Responsible Officer, it has not taken any action that could subject it nor is it otherwise subject to any material amount of Tax imposed by a state or local taxing authority.

 (x) No Event of Termination, Etc. No event has occurred and is continuing, or would result from any Purchase or
Reinvestment, that constitutes or would constitute an Event of Termination, Unmatured Event of Termination, Collection Control Event or Non-Reinvestment Event. 

(y) No Sanctions. It is not a Sanctioned Person. To its knowledge after due inquiry, no Obligor on any Pool Receivables
was a Sanctioned Person at the time of origination of any Pool Receivable owing by such Obligor. It and its Affiliates: (i) have less than 15% of their assets in Sanctioned Countries; and (ii) derive less than 15% of their operating income
from investments in, or transactions with Sanctioned Persons or Sanctioned Countries. Neither it nor any of its Subsidiaries engage in activities related to Sanctioned Countries except for such activities as are (A) specifically or generally
licensed by OFAC, or (B) otherwise in compliance with OFAC’s sanctions regulations. 
 (z) No Seller holds (or will
hold throughout the term of this Agreement) “plan assets” within the meaning of the Department of Labor regulations located at 29 C.F.R. Section 2510.3-101, as modified by Section 3(42) of ERISA. 

(aa) No Linked Accounts. There are no “Linked Accounts” (as defined in the Lock-Box Agreement with Wells
Fargo Bank, National Association) with respect to any Lock-Box Account maintained at Wells Fargo Bank, National Association. There are no “Linked Accounts” or “Controlled Balance Accounts” (as defined in the Lock-Box
Agreement with Bank of America, National Association (“BofA”)) with respect to any Lock-Box Account maintained at BofA, except for (x) other Lock-Box Accounts maintained at BofA in accordance with this Agreement and
(y) that certain account of the Servicer maintained at BofA with an account number ending in “4491”. 
 SECTION 6.2
Representations and Warranties of Sprint Spectrum. Sprint Spectrum, individually and when acting as the Servicer, represents and warrants, as of the Restatement Effective Date and as of each date on which a Purchase or Reinvestment is made as
follows: 
 (a) Organization and Good Standing. It has been duly organized and is validly existing as a limited
partnership in good standing under the Laws of its jurisdiction of organization, with power and authority to own its properties and to conduct its business as such properties are presently owned and such business is presently conducted. 

(b) Due Qualification. It is duly qualified to do business as a foreign corporation in good standing, and has obtained
all necessary qualifications, licenses and approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business (including the servicing of the Pool Receivables) requires such qualifications, licenses or
approvals, except where the failure to be in good standing or to hold any such qualifications, licenses and approvals could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

  
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 (c) Power and Authority; Due Authorization. It (i) has all necessary
power and authority to (A) execute and deliver this Agreement and the other Transaction Documents to which it is a party in any capacity and (B) carry out the terms of and perform its obligations under the Transaction Documents applicable
to it and (ii) has duly authorized by all necessary limited partnership action the execution, delivery and performance of this Agreement and the other Transaction Documents to which it is a party. 

(d) Binding Obligations. This Agreement constitutes, and each other Transaction Document to be signed by it when duly
executed and delivered by it will constitute, a legal, valid and binding obligation of it, enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting
creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 

(e) No Violation. The consummation of the transactions contemplated by this Agreement and the other Transaction
Documents and the performance by it of the terms hereof and thereof will not (i) violate or result in a default under, (A) its articles or certificate of incorporation or by-laws, or (B) in the context of the transactions contemplated
by this Agreement and the other Transaction Documents, any material indenture, agreement or instrument binding on it, (ii) result in the creation or imposition of any Adverse Claim upon any of its properties pursuant to the terms of any such
indenture, agreement or instrument except for any Adverse Claim that could not reasonably be expected to have a Material Adverse Effect or (iii) violate in any material respect any Law applicable to it or any of its properties. 

(f) No Proceedings. There are no actions, suits or proceedings by or before any arbitrator or Governmental Authority
pending against or, to the actual knowledge of the Servicer, threatened against or affecting the Servicer (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, (ii) seeking to prevent the servicing of the Receivables relating to any Receivable Pool by it or the consummation of the purposes of this Agreement or of any
of the other Transaction Documents or (iii) that involve this Agreement or any other Transaction Document. 
 (g)
Governmental Approvals. No authorization or approval or other action by, and no notice to or filing with, any Governmental Authority is required for its due execution, delivery and performance of this Agreement or any other Transaction
Document or the transactions contemplated thereby, except for the filing of the UCC financing statements referred to in Article V and filings with the SEC to the extent required by applicable Law. 

  
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 (h) Financial Condition. All financial statements of Sprint Corporation
and its Subsidiaries (including the notes thereto) delivered to the Collateral Agent, the Administrative Agents and each Purchaser Agent pursuant to Section 7.5(a), present fairly, in all material respects, the actual financial position
and results of operations and cash flows of Sprint Corporation and its Subsidiaries as of the dates and for the periods presented or provided (other than in the case of annual financial statements, in each case in accordance with GAAP, subject to
year-end audit adjustments and the absence of footnotes in the case of all interim balance sheets of Sprint Corporation. 

(i) Accurate Reports. None of the reports, financial statements, certificates or other information (other than
forward-looking statements, projections and statements of a general industry nature, as to which it represents only that it acted in good faith and utilized assumptions reasonable at the time made and due care in the preparation of such statement or
projection) furnished or to be furnished by or on behalf of it (including Information Packages furnished by the Servicer and each report furnished pursuant to Section 7.5(f)) in writing (including, without limitation, by electronic
delivery) to the Collateral Agent, any Administrative Agent, any Purchaser or any Purchaser Agent in connection with this Agreement or any other Transaction Document or any amendment hereto or delivered hereunder or thereunder (as modified or
supplemented by other information so furnished) taken together with any information contained in the public filings made by Sprint Corporation with the SEC pursuant to the 1934 Act 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 materially misleading. 

(j) Lock-Box Accounts. The names and addresses of all of the Lock-Box Banks, together with the account numbers of the
Lock-Box Accounts at such Lock-Box Banks, are specified in Schedule 6.1(m) (or have been notified to and approved by the Collateral Agent and each Administrative Agent in accordance with Section 7.3(d)). 

(k) Servicing Programs. No license or approval is required for the Collateral Agent’s or any Administrative
Agent’s use of any software or other computer program used by the Servicer, any Originator or any sub-servicer in the servicing of the Receivables, other than under the Amdocs Sub-Servicing Agreement and those which have been obtained and are
in full force and effect. 
 (l) Adverse Change. Since January 31, 2014, (i) there has been no material
adverse change in the value, validity, collectability or enforceability of all or a material portion of the Pool Receivables relating to any Receivable Pool and (ii) since the Closing Date, there has been no Material Adverse Effect with respect
to Servicer. 
 (m) Credit and Collection Policy; Law. It has complied with the Credit and Collection Policy in all
material respects and such policies have not changed in any material respect since the Restatement Effective Date except as permitted under Sections 7.3(c) and 7.5(g). It has complied with all applicable Law except where the
failure to do so, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect. 

  
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 (n) Investment Company Act. It is not (i) required to register as an
“Investment Company” or (ii) “controlled” by an “Investment Company”, in each case, under (and as defined in) the Investment Company Act. 

(o) 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; provided, however, that the occurrence or reasonable expectation of the occurrence of any ERISA
Event that could reasonably be expected to result in the imposition of a lien by the PBGC on the assets of any Seller shall be considered as reasonably expected to result in a Material Adverse Effect. 

(p) Tax Returns and Payments. It has filed all federal income tax returns and all other material tax returns that are
required to be filed by it and has paid all taxes due pursuant to such returns or pursuant to any assessment received by it, except (i) for any such taxes or assessments, if any, that are being appropriately contested in good faith by
appropriate proceedings and with respect to which adequate reserves in conformity with GAAP have been provided, or (ii) to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse Effect. No tax lien
has been filed, and, to the actual knowledge of the Servicer, no claim is being asserted, with respect to any such tax or assessment. 

(q) No Event of Termination, Etc. No event has occurred and is continuing, or would result from any Purchase or
Reinvestment of Receivables relating to any Receivable Pool, that constitutes or would constitute an Event of Termination, Unmatured Event of Termination, Collection Control Event or Non-Reinvestment Event. 

(r) No Sanctions. It is not a Sanctioned Person. To its knowledge after due inquiry, no Obligor on any Pool Receivable
relating to any Receivable Pool was a Sanctioned Person at the time of origination of any such Pool Receivable owing by such Obligor. It and its Affiliates: (i) have less than 15% of their assets in Sanctioned Countries; and
(ii) derive less than 15% of their operating income from investments in, or transactions with Sanctioned Persons or Sanctioned Countries. Neither it nor any of its Subsidiaries engages in activities related to Sanctioned Countries except for
such activities as are (A) specifically or generally licensed by OFAC, or (B) otherwise in compliance with OFAC’s sanctions regulations. 

(s) No Linked Accounts. There are no “Linked Accounts” (as defined in the Lock-Box Agreement with Wells
Fargo Bank, National Association) with respect to any Lock-Box Account maintained at Wells Fargo Bank, National Association. There are no “Linked Accounts” or “Controlled Balance Accounts” (as defined in the Lock-Box Agreement
with BofA) with respect to any Lock-Box Account maintained at BofA, except for (x) other Lock-Box Accounts maintained at BofA in accordance with this Agreement and (y) that certain account of the Servicer maintained at BofA with an account
number ending in “4491”. 

  
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 (t) ISC Cap Reserve Account. The Servicer has on behalf of the Sellers
established the ISC Cap Reserve Account and delivered to the Collateral Agent and the ISC Administrative Agent and each Purchaser Agent a copy of a duly executed Control Agreement. Neither the Servicer nor any Seller has granted any interest in the
ISC Cap Reserve Account to any Person other than the Collateral Agent (for the benefit of the Affected Parties), and the Collateral Agent will have the right to exercise exclusive ownership and control of the ISC Cap Reserve Account in accordance
with the provisions of the Control Agreement. 
 ARTICLE VII 

GENERAL COVENANTS OF SELLERS AND SERVICER 

SECTION 7.1 Affirmative Covenants of the Sellers. From the date hereof until the Final Payout Date, each Seller shall: 

(a) Compliance with Laws, Etc. Comply with all applicable Laws, its Pool Receivables and each of the related Contracts,
except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 

(b) Preservation of Existence. Preserve and maintain its existence, rights, franchises and privileges in the
jurisdiction of its organization, and qualify and remain qualified in good standing in each jurisdiction, except where the failure to qualify or preserve or maintain such existence, rights, franchises or privileges could not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect. 
 (c) Inspections. From time to time, upon
reasonable prior notice, upon the reasonable request by an Administrative Agent and during regular business hours, permit the Collateral Agent, the Administrative Agents and the Purchaser Agents, or any of their respective representatives to visit
and inspect its properties, to examine and make extracts from its 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;
provided that, information relating to specific Receivables shall be limited to the Sprint Information and, during the continuance of an Event of Termination or Non-Reinvestment Event, such other information (including Subscriber Confidential
Information) that the Collateral Agent or any Administrative Agent determines in good faith is necessary or desirable to exercise or enforce the Collateral Agent’s, the Administrative Agents’, the Purchasers’ or the Purchaser
Agents’ rights and remedies hereunder and in such Receivables; provided further that, unless an Event of Termination, Non-Reinvestment Event, Collection Control Event or Unmatured Event of Termination has occurred and is
continuing at the time of such inspection, (i) such Seller shall only be required to reimburse reasonable documented out-of-pocket costs and expenses related to one such inspection during any 12-month period which inspection shall be requested
and scheduled by the Administrative Agents acting together and (ii) the Collateral Agent, the Administrative Agents and the Purchaser Agents shall use commercially reasonable efforts to coordinate any such inspection to minimize disruptions to
the Sellers and avoid duplication of Sellers’ actions required to comply with such inspection. 

  
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 (d) Keeping of Records and Books of Account; Delivery. Maintain and
implement, or cause to be maintained and implemented, administrative and operating procedures (including an ability to recreate records evidencing its Pool Receivables and Related Assets relating to each Receivable Pool in the event of the
destruction of the originals thereof, backing up on at least a daily basis on a separate backup computer from which electronic file copies can be readily produced and distributed to third parties being agreed to suffice for this purpose), and keep
and maintain, or cause to be kept and maintained, all documents, books, records and other information necessary or advisable for the collection of its Pool Receivables and Related Assets, relating to each Receivable Pool (including records adequate
to permit the daily identification of (i) each new Pool Receivable relating to each Receivable Pool and all Collections relating to each Receivable Pool of and adjustments to each existing Pool Receivable relating to each Receivable Pool
received, made or otherwise processed on that day and (ii) the portion of the Collections received from each Obligor that represents Collections of an ISC Receivable from such Obligor and Collections of an SCC Receivable from such Obligor).

 (e) Performance and Compliance with Pool Receivables and Contracts. At its expense, timely and fully perform and
comply in all material respects with all provisions and covenants required to be observed by it under the Contracts related to the Pool Receivables relating to each Receivable Pool. 

(f) Location of Records. Keep its chief place of business and chief executive office, and the offices where it keeps its
Records (and any original documents relating thereto), at the address(es) of such Seller referred to in Section 6.1(l) or, upon 30 days’ prior written notice to the Collateral Agent, each Administrative Agent, at such other
locations in jurisdictions where all action required by Section 8.5 shall have been taken and completed. 
 (g)
Credit and Collection Policy. Cause the Servicer to service its Pool Receivables and Related Assets in respect of each Receivable Pool in accordance with the Credit and Collection Policy in all material respects and not agree to any material
changes thereto except as permitted under Sections 7.3(c) and 7.5(g). 
 (h) Collections. Instruct,
or cause the Servicer to instruct, all Obligors to cause all Collections of its Pool Receivables in respect of each Receivable Pool to be deposited directly in a Lock-Box Account covered by a Lock-Box Agreement. In the event any Seller or its
Affiliates receive any Collections, they will promptly (but not later than three (3) Business Days following receipt) deposit such Collections in a Lock-Box Account covered by a Lock-Box Agreement, except to the extent the Servicer is permitted
to commingle such Collections with its own funds pursuant to Section 1.3(a)(i). 

  
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 (i) Right and Title. Hold all right, title and interest in each Pool
Receivable in respect of each Receivable Pool, except to the extent that any such right, title or interest has been transferred or granted to the Collateral Agent (on behalf of Purchasers). 

(j) Transaction Documents. Without limiting its covenants or agreements set forth herein or in any other Transaction
Document, (i) comply with each and every of its covenants and agreements under each Transaction Document to which it is a party in any capacity and its certificate of formation and limited liability company agreement and (ii) take any
action reasonably necessary to ensure that each Transaction Document remains enforceable and in effect. 
 (k) Enforcement
of Sale Agreement. On its own behalf and on behalf of Purchasers, Purchaser Agents, the Collateral Agent and the Administrative Agents, shall (x) promptly enforce all covenants and obligations of each Originator contained in the Sale
Agreement and (y) deliver to the Collateral Agent and each Administrative Agent all consents, approvals, directions, notices and waivers and take other actions under the Sale Agreement as may be reasonably directed by the Collateral Agent or
any Administrative Agent. 
 (l) Filing of Financing Statements. Seller shall at its expense, as promptly as practical
(in any event, within ten (10) Business Days) following such request execute, authorize and deliver all instruments and documents and take all action, necessary or reasonably requested by the Collateral Agent, any Administrative Agent or any
Purchaser Agent (including the filing of financing or continuation statements, amendments thereto or assignments thereof) to enable the Collateral Agent to exercise and enforce all of its rights hereunder and to vest and maintain vested in the
Collateral Agent a valid, first priority perfected security interest in the Pool Receivables, the Related Assets with respect thereto, the Sale Agreement, the Collections with respect thereto and the other Collateral free and clear of any Adverse
Claim. Each Seller hereby authorizes each Administrative Agent and the Collateral Agent to file any continuation statements, amendments thereto and assignments thereof as the Collateral Agent, any Administrative Agent or any Purchaser Agent may from
time to time determine to be necessary or desirable to perfect or maintain the perfection or priority of its security interest in the Receivables, the Collections and the Related Assets with respect thereto, the Sale Agreement and the other
Collateral. 
 (m) Location. Maintain at all times its jurisdiction of organization and its chief executive office
within a jurisdiction in the United States in which Article Nine of the UCC (2001 or later revision) is in effect. 
 (n)
Tax Matters. Any Seller or the Servicer shall pay all applicable taxes required to be paid by it when due and payable in connection with the transfer of the Pool Receivables and Related Assets by any Seller, and acknowledges that neither the
Collateral Agent, any Administrative Agent nor any Purchaser shall have any responsibility with respect thereto. The Sellers or the Servicer shall pay and discharge, or cause the payment and discharge of, all federal income taxes (and all other
material taxes) when due and payable, except (i) such as may be paid thereafter without penalty, 

  
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(ii) such as may be contested in good faith by appropriate proceeding and for which an adequate reserve has been established and is maintained in accordance with GAAP, or (iii) where the
failure to do so, individually or in the aggregate, could not reasonably be expected result in a Material Adverse Effect. 

(o) Credit Risk Retention. Cooperate with each Purchaser (including by providing such information and entering into or
delivering such additional agreements or documents reasonably requested by such Purchaser or its Purchaser Agent) to the extent reasonably necessary to assure such Purchaser that the Originators retain credit risk in the amount and manner required
by the Credit Risk Retention Rules and the CRR and to permit such Purchaser to perform its due diligence and monitoring obligations (if any) under the Credit Risk Retention Rules and the CRR; provided however, that none of the
Originators or the Sellers shall be required to take actions that could cause a change in the accounting or tax treatment of the transactions contemplated by this Agreement. 

SECTION 7.2 Reporting Requirements of the Sellers. From the date hereof until the Final Payout Date, each Seller shall furnish
to the Collateral Agent and each Administrative Agent: 
 (a) Financial Statements. As soon as available and in any
event within 75 days after the end of its fiscal year, copies of the unaudited annual income statement and balance sheet of such Seller, prepared in conformity with GAAP. 

(b) Events of Termination, Etc. Notice of the occurrence of any Event of Termination, Unmatured Event of Termination,
Non-Reinvestment Event, Collection Control Event, Amdocs Performance Event or Amdocs Event, accompanied by a written statement of an appropriate officer of the Sellers setting forth details of such event and the action that any Seller proposes to
take with respect thereto, such notice to be provided promptly (but not later than two (2) Business Days) after actual knowledge of such event by any Responsible Officer, and in the case of an Amdocs Event, the period of time, if any, during
which the Amdocs Sub-Servicing Agreement requires Amdocs to continue servicing and collecting the Pool Receivables on substantially the same terms as in effect prior to such Amdocs Event. As promptly as practicable following any Reporting Date (but
no later than two (2) business days after such Reporting Date), notice if the ISC Cap Pool Holdback Amount is less than the then current ISC Cap Reserve Amount as of such Reporting Date, which notice shall specify the amount of such deficiency.

 (c) Other Information. Promptly, from time to time, such Records or other information, documents, records or
reports respecting the condition or operations, financial or otherwise, of any Seller as the Collateral Agent, any Administrative Agent or any Purchaser Agent may from time to time reasonably request relating to the Sellers, the transactions
contemplated hereby and the Pool Receivables and the Related Assets in order to protect the interests of the Collateral Agent, any Administrative Agent, any Purchaser Agent or any Purchaser under or as contemplated by this Agreement or any other
Transaction Document, to comply with any Law or any regulatory authority or to confirm the Sellers’ and the Servicer’s compliance with the terms of this Agreement; provided that, information relating to specific Receivables shall be
limited to the Sprint 

  
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Information and, during the continuance of an Event of Termination or Non-Reinvestment Event, such other information (including Subscriber Confidential Information) that the Collateral Agent, any
Administrative Agent determines in good faith is necessary or desirable to exercise or enforce its, the Purchasers’ and the Purchaser Agents’ rights and remedies hereunder and in such Receivables. 

(d) Notices Under Sale Agreement. A copy of each notice received by any Seller from any Originator pursuant to any
provision of the Sale Agreement. 
 (e) ERISA. Written notice 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 any Seller or any of its ERISA Affiliates in an aggregate amount exceeding $200,000,000; provided, however, that the occurrence or reasonable
expectation of the occurrence of any ERISA Event that could reasonably be expected to result in the imposition of a lien by the PBGC on the assets of any Seller shall be considered as reasonably expected to result in a Material Adverse Effect. 

SECTION 7.3 Negative Covenants of the Sellers. From the date hereof until the Final Payout Date, no Seller shall: 

(a) Sales, Adverse Claims, Etc. Except as otherwise explicitly provided herein or in the Sale Agreement, sell, assign or
otherwise dispose of, or create or suffer to exist any Adverse Claim (by operation of Law or otherwise) (other than Permitted Adverse Claims) upon or with respect to, any of its assets (including any Pool Receivable or Related Assets relating to any
Receivable Pool or any proceeds of any of the foregoing, or any interest therein, the ISC Cap Reserve Account or any Lock-Box Account to which any Collections of any of the foregoing are sent, or any right to receive income or proceeds from or in
respect of any of the foregoing). 
 (b) Extension or Amendment of Receivables. Except as permitted under
Section 8.2(b), extend, amend or otherwise modify the terms of any Pool Receivable relating to any Receivable Pool or amend, modify or waive any term or condition of any related Contract (including without limitation, in respect of any
ISC Contract, the Designated Installment Payment Term or the terms of the Upgrade Program), in each case unless prior to any such extension, amendment, or modification, a corresponding Deemed Collection payment in respect of the related Pool
Receivable is made in connection therewith. 
 (c) Change in Credit and Collection Policy, Business or Organizational
Documents. (i) Make or consent to any change or amendment to the Credit and Collection Policy if such proposed change or amendment could reasonably be expected to materially and adversely affect the value, validity, collectability or
enforceability of the Pool Receivables or decrease the credit quality of any newly created Pool Receivables (in each case, taken as a whole) without the prior written consent of the Collateral Agent, each Administrative Agent and each Purchaser
Agent or (ii) make any material change in the character of its business or amend or otherwise modify its limited liability company agreement or certificate of formation in any respect without the prior written consent of the Collateral Agent,
each Administrative Agent and the Required Purchasers. 

  
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 (d) Change in Payment Instructions to Obligors. Deposit Collections or
cause Collections to be deposited in a Lock-Box Account at any Lock-Box Bank other than those listed in Schedule 6.1(m), unless the Collateral Agent and each Administrative Agent shall have previously received duly executed copies of all
Lock-Box Agreements with each such Lock-Box Bank; provided, that a Lock-Box Bank may not be terminated unless the payments from Obligors that are being sent to such Lock-Box Bank will, upon termination of such Lock-Box Bank and at all times
thereafter, be deposited in a Lock-Box Account with another Lock-Box Bank covered by a Lock-Box Agreement. 
 (e) Name
Change, Mergers, Acquisitions, Sales, etc. (i) Change its name or the location of any office at which Records are maintained, (ii) be a party to any merger or consolidation, or purchase or otherwise acquire all or substantially all of
the assets or any stock of any class of, or any partnership or joint venture interest in, any other Person, or, except in the ordinary course of its business, sell, transfer, convey, contribute or lease all or any substantial part of its assets, or
sell or assign with or without recourse any Pool Receivables or any interest therein (other than pursuant hereto and to the Sale Agreement) to any Person or (iii) have any Subsidiaries. 

(f) Deposits to Accounts. Subject to Section 7.4(g), deposit or otherwise credit, or cause or permit to be
so deposited or credited, or direct any Obligor to deposit or remit, any Collection or proceeds thereof (other than as remitted to Seller pursuant to Section 1.3(a)(ii) hereof) to any account not covered by a Lock-Box Agreement. 

(g) Debt and Business Activity. Incur, assume, guarantee or otherwise become directly or indirectly liable for or in
respect of any Debt or other obligation, purchase any asset (or make any investment by share purchase loan or otherwise) or engage in any other activity (whether or not pursued for gain or other pecuniary advantage), in any case, other than as will
occur in accordance with this Agreement or the other Transaction Documents and as is permitted by its certificate of formation and limited liability company agreement. 

(h) Change in Organization, Etc. Change its jurisdiction of organization or its name, identity or corporate structure or
make any other change such that any financing statement filed or other action taken to perfect the Collateral Agent’s interests under this Agreement would become seriously misleading or would otherwise be rendered ineffective, unless the
Sellers shall have given each Administrative Agent, the Collateral Agent and each Purchaser Agent not less than thirty (30) days’ prior written notice of such change and shall have cured such circumstances. No Seller shall amend or
otherwise modify or waive its limited liability company agreement or any of its other organizational documents or any provision thereof without the prior written consent of the Collateral Agent and each Administrative Agent. 

(i) Actions Impairing Quality of Title. Take any action that could reasonably be expected to cause any Pool Receivable,
together with the Related Assets, relating to 

  
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any Receivable Pool not to be owned by it free and clear of any Adverse Claim (other than any Permitted Adverse Claim or Adverse Claim arising under any Transaction Document or solely as the
result of any action taken by any Purchaser (or any assignee thereof), any Purchaser Agent, the Collateral Agent or by the applicable Administrative Agent); or take any action that could cause the Collateral Agent not to have a valid ownership free
of any Adverse Claim or first priority perfected security interest in its related Asset Portfolio and all products and proceeds of the foregoing, free and clear of any Adverse Claim (other than any Permitted Adverse Claim or Adverse Claim arising
under any Transaction Document) or suffer the existence of any valid effective financing statement or other instrument similar in effect covering any Pool Receivable or any Related Asset on file in any recording office except such as may be filed
(i) in favor of any Originator or Seller in accordance with the Contracts or any Transaction Document or (ii) in favor of a Purchaser, the Collateral Agent or any Administrative Agent in accordance with this Agreement or any Transaction
document or take any action that could cause the Collateral Agent not to have a valid first priority perfected security interest in each Lock-Box Account listed on Schedule 6.1(m) or for which the Collateral Agent and each Administrative
Agent has been notified in accordance with Section 7.3(d) and all amounts or instruments on deposit or credited therein from time to time (other than Permitted Adverse Claims). No Seller shall encumber, pledge, assign or otherwise
transfer, or create or suffer to create a Lien upon, or otherwise finance any other receivable or amount billed on, or otherwise reflected on, the same invoice as an ISC Receivable or an SCC Receivable. 

(j) Actions by Originators. Notwithstanding anything to the contrary set forth in the Sale Agreement, no Seller shall
consent to (i) any change or removal of any notation required to be made by any Originator pursuant to Section 3.3 of the Sale Agreement, or (ii) any waiver of or departure from any term set forth in Section 5.4 of
the Sale Agreement, in each case, without the prior written consent of the Collateral Agent and each Administrative Agent and each Purchaser Agent. 

(k) OFAC. No Seller will use the proceeds of any Receivable or any Purchase under this Agreement to fund any operations
in, finance any investments or activities in or make any payments to, a Sanctioned Person or a Sanctioned Country. 
 (l)
Tax Status. No Seller shall take (or permit any other Person to take) any action that could (or could reasonably be expected to) cause any Seller to be treated as an association or publicly traded partnership taxable as a corporation for U.S.
federal income tax purposes. No Seller shall take (or permit any other Person to take) any action that could, in the reasonable belief of any Responsible Officer, cause any Seller to be subject to any material amount of Tax imposed by a state
or local taxing authority. 
 (m) Linked Accounts. No Seller shall permit any “Linked Account” (as defined
in the Lock-Box Agreement with Wells Fargo Bank, National Association) to exist with respect to any Lock-Box Account maintained at Wells Fargo Bank, National Association. No Seller shall permit any “Linked Account” or “Controlled
Balance Account” (as defined in the Lock-Box Agreement with BofA) with respect to any Lock-Box Account maintained at BofA, except for (x) other Lock-Box Accounts maintained at 

  
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BofA in accordance with this Agreement and (y) that certain account of the Servicer maintained at BofA with an account number ending in “4491”; provided, however, that, at any time
during the continuance of a Specified Unmatured Event, an Event of Termination, Collection Control Event or a Non-Reinvestment Event, the Seller shall, if so instructed in writing by the Collateral Agent or any Administrative Agent (in its sole
discretion), cause the Servicer’s account described in clause (y) above to cease to be such a “Linked Account” or “Controlled Balance Account” promptly, but not later than 2 Business Days following the Seller’s or
the Servicer’s receipt of such instruction. 
 SECTION 7.4 Affirmative Covenants of Sprint Spectrum. From the date hereof
until the Final Payout Date, Sprint Spectrum, individually and when acting as the Servicer, shall: 
 (a) Compliance with
Laws, Etc. Comply with all applicable Laws, the Pool Receivables, the related Contracts and the servicing and collection thereof, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in
a Material Adverse Effect. 
 (b) Preservation of Corporate Existence. Preserve and maintain its corporate existence,
rights, franchises and privileges in the jurisdiction of its incorporation, and qualify and remain qualified in good standing in each jurisdiction except where the failure to preserve or maintain such existence, rights, franchises or privileges or
to be so qualified could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(c) Inspections. From time to time, upon reasonable prior notice, upon the reasonable request by an Administrative Agent
and during regular business hours, permit the Administrative Agents, the Collateral Agent and the Purchaser Agents, or any of their respective representatives to visit and inspect its properties, to examine and make extracts from its Records, and to
discuss its affairs, finances and condition with its officers and independent accountants with respect the Pool Receivables and the Related Assets relating to each Receivable Pool, all at such reasonable times and as often as reasonably requested;
provided that, information relating to specific Receivables shall be limited to the Sprint Information and, during the continuance of an Event of Termination, Unmatured Event of Termination, Collection Control Event, or Non-Reinvestment
Event, such other information (including Subscriber Confidential Information) that the Collateral Agent or any Administrative Agent determines in good faith is necessary or desirable to exercise or enforce the Collateral Agent’s, the
Administrative Agents’, the Purchasers’ or the Purchaser Agents’ rights and remedies hereunder and in such Receivables; provided further that, unless an Event of Termination, Collection Control Event or Non-Reinvestment
Event has occurred and is continuing at the time any such inspection, (i) the Servicer shall only be required to reimburse the reasonable documented out-of-pocket costs and expenses related to one such inspection during any 12-month period,
which inspection shall be requested and scheduled by the Administrative Agents acting together and (ii) the Collateral Agent, the Administrative Agents and the Purchaser Agents shall use commercially reasonable efforts to coordinate any such
inspection to minimize disruptions to the Servicer and avoid duplication of Servicer’s actions required to comply with such inspection. 

  
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 (d) Keeping of Records and Books of Account; Delivery; Location of
Records. Maintain and implement, or cause to be maintained and implemented, administrative and operating procedures (including an ability to recreate records evidencing the Pool Receivables and Related Assets relating to each Receivable Pool in
the event of the destruction of the originals thereof, backing up on at least a daily basis on a separate backup computer from which electronic file copies can be readily produced and distributed to third parties being agreed to suffice for this
purpose), and keep and maintain, or cause to be kept and maintained, all documents, books, records and other information necessary or advisable for the collection of all Pool Receivables and Related Assets relating to each Receivable Pool (including
records adequate to permit the daily identification of (i) each new Pool Receivable relating to each Receivable Pool and all Collections relating to each Receivable Pool of and adjustments to each existing Pool Receivable received, made or
otherwise processed on that day) and (ii) the portion of the Collections received from each Obligor that represents Collections of an ISC Receivable from such Obligor and Collections of an SCC Receivable from such Obligor. In addition, it shall
keep its principal place of business and chief executive office, and the offices where it keeps the Records (and any original documents relating thereto), at the address(es) referred to in Annex 1 of the Sale Agreement or at such other
address(es) as set forth in the Sale Agreement or, upon thirty (30) days’ prior written notice to the Collateral Agent and each Administrative Agent and each Purchaser Agent, at such other locations in jurisdictions where all action
required by Section 8.5 hereof shall have been taken and completed. 
 (e) Performance and Compliance with
Receivables and Contracts. At its expense, timely and fully perform and comply in all material respects with all provisions, covenants and other promises required to be observed by it under the Contracts and the Pool Receivables relating to each
Receivable Pool. 
 (f) Credit and Collection Policy. Comply in all material respects with the Credit and Collection
Policy in regard to each Pool Receivable, the related Contract and the other Related Assets in respect of each Receivable Pool and the servicing and collection thereof. 

(g) Collections. Instruct all Obligors to cause all Collections of Pool Receivables and the Related Assets in respect of
each Receivable Pool to be deposited directly in a Lock-Box Account covered by a Lock-Box Agreement. In the event the Servicer or its Affiliates receive any Collections, they will promptly (but not later than three (3) Business Days following
receipt) deposit such Collections in a Lock-Box Account covered by a Lock-Box Agreement, except to the extent the Servicer is permitted to commingle such Collections with its own funds pursuant to Section 1.3(a)(i). 

(h) Filing of Financing Statements. Cause the financing statements described in Sections 5.1(e),
(f) and (h), that have not previously been filed, to be duly filed in the appropriate jurisdictions at its expense, as promptly as practical (and in any event, within 

  
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ten (10) Business Days) following such request and to execute, authorize and deliver all instruments and documents and take all action, necessary or reasonably requested by the Collateral
Agent, any Administrative Agent or any Purchaser Agent (including the filing of financing or continuation statements, amendments thereto or assignments thereof) to enable the Collateral Agent to exercise and enforce all of its rights hereunder and
to vest and maintain vested in the Collateral Agent a valid, first priority perfected security interest in the Pool Receivables, the Related Assets with respect thereto, the Sale Agreement, the Collections with respect thereto and the other
Collateral free and clear of any Adverse Claim. The Servicer hereby authorizes the Collateral Agent and each Administrative Agent to file any continuation statements, amendments thereto and assignments thereof as the Collateral Agent, any
Administrative Agent or any Purchaser Agent may from time to time determine to be necessary or desirable to perfect or maintain the perfection or priority of its security interest in the Receivables, the Collections and the Related Assets with
respect thereto, the Sale Agreement and the other Collateral. 
 (i) Frequency of Billing. Prepare and deliver (or
cause to be prepared or delivered) invoices with respect to each Pool Receivable in the SCC Receivable Pool no less frequently than as required under the SCC Contract related to such Pool Receivable. 

(j) Linked Accounts. The Servicer shall at all times maintain a positive balance in its account maintained at BofA with
an account number ending in “4491” and shall not permit any “Settlement Item Amount” (as defined in the Lock-Box Agreement with BofA) with respect to such account to be charged against any Lock-Box Account. 

(k) Credit Risk Retention. Include in each Information Package delivered hereunder, a confirmation as to the
Originators’ continued compliance with clauses (i), (ii) and (iii) of Section 5.2 of the Sale Agreement. The Servicer shall, and shall cause each Originator to, cooperate with each Purchaser (including by providing such
information and entering into or delivering such additional agreements or documents reasonably requested by such Purchaser or its Purchaser Agent) to the extent reasonably necessary to assure such Purchaser that the Originators retain credit risk in
the amount and manner required by the Credit Risk Retention Rules and the CRR and to permit such Purchaser to perform its due diligence and monitoring obligations (if any) under the Credit Risk Retention Rules and the CRR; provided
however, that none of the Originators or the Sellers shall be required to take actions that could cause a change in the accounting or tax treatment of the transactions contemplated by this Agreement. 

SECTION 7.5 Reporting Requirements of Sprint Spectrum. From the date hereof until the Final Payout Date, Sprint Spectrum,
individually and when acting as the Servicer, shall furnish to the Collateral Agent and each Administrative Agent: 
 (a) (i)
Quarterly Financial Statements. Within 45 days after the close of each of the first three fiscal quarters of each fiscal year of Sprint Corporation, Sprint Corporation’s Form 10-Q as filed with the SEC. 

  
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 (ii) Annual Financial Statements. Within 75 days after the end of each
fiscal year of Sprint Corporation, the audited consolidated statements of operations, changes in stockholders’ equity and cash flows of Sprint Corporation and its Subsidiaries for such fiscal year, and the related audited consolidated balance
sheet for Sprint Corporation and its Subsidiaries as of the end of such fiscal year, setting forth in each case in comparative form the corresponding figures for the previous fiscal year, all reported on by Deloitte LLP, or other independent public
accountants of recognized national standing (without a “going concern” or like qualification or exception and without any qualification or exception as to the scope of such audit), to the effect that such audited consolidated financial
statements present fairly in all material respects the financial condition and results of operations of Sprint Corporation and its Subsidiaries on a consolidated basis in accordance with GAAP consistently applied. 

(iii) Compliance Certificate. Together with the financial statements required hereunder, a compliance certificate in
substantially the form of Exhibit 7.5 signed by an authorized officer of Sprint Corporation and dated the date of such annual financial statement or such quarterly financial statement, as the case may be. 

(b) Financial Statements and Other Information. It will furnish to the Collateral Agent and each Administrative Agent
and each Purchaser Agent: 
 (i) promptly after the same become publicly available, copies of all proxy statements, financial
statements and regular or special reports which Sprint Corporation files with the SEC or with any national securities exchange or distributed generally to its shareholders, as the case may be; 

(ii) promptly following a request therefor, any documentation or other information (including with respect to any Originator,
any Seller or Sprint Corporation) that the Collateral Agent, any Administrative Agent or any Purchaser reasonably requests in order to comply with its ongoing obligations under the applicable “know your customer” and anti money laundering
rules and regulations, including the USA PATRIOT Act; and 
 (iii) from time to time such further information regarding the
business, affairs and financial condition of the Sellers, Sprint Corporation, Sprint Spectrum and Originators as the Collateral Agent or any Administrative Agent shall reasonably request; provided that, information relating to specific
Receivables shall be limited to the Sprint Information and, during the continuance of an Event of Termination or Non-Reinvestment Event, such other information (including Subscriber Confidential Information) that the Collateral Agent or any
Administrative Agent determines in good faith is necessary or desirable to exercise or enforce its, the Purchasers’ and the Purchaser Agents’ rights and remedies hereunder and in such Receivables. 

  
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 Documents and information required to be delivered to the Collateral Agent and
the Administrative Agents pursuant to this Section 7.5 (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically to such parties and if so delivered, shall be deemed to have
been delivered to such parties on the date (i) on which Sprint Corporation posts such documents, or provides a link thereto, on its website or another relevant website, if any, to which such relevant party has access (whether a commercial,
third-party website or whether sponsored by such party). Notwithstanding anything contained herein, in every instance Sprint Spectrum shall be required to provide documents, information, and certificates required by or requested pursuant to
Sections 7.5(a)(iii), 7.5(b)(ii) and 7.5(b)(iii) to the Collateral Agent and each Administrative Agent. 

(c) Written notice 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 Sprint Corporation, Sprint Spectrum, the Servicer, any Originator, or any of their respective ERISA Affiliates, in an aggregate amount exceeding $200,000,000. 

(d) Events of Termination, Etc. Notice of the occurrence of any Event of Termination, Unmatured Event of Termination,
Collection Control Event, Non-Reinvestment Event, Amdocs Performance Event or Amdocs Event, accompanied by a written statement of an appropriate officer of the Servicer setting forth details of such event and the action that it proposes to take with
respect thereto, such notice to be provided promptly (but not later than two (2) Business Days) after such event occurs and, in the case of an Amdocs Event, the period of time, if any, during which the Amdocs Sub-Servicing Agreement requires
Amdocs to continue servicing and collecting the Pool Receivables on substantially the same terms as in effect prior to such Amdocs Event. 

(e) Litigation. As soon as possible, and in any event within two (2) Business Days of actual knowledge of any
Responsible Officer thereof, notice of any material litigation, investigation or proceeding initiated against any Seller which has had or could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(f) Agreed Upon Procedures Report. Not later than three (3) months after the end of each fiscal year of the
Servicer (at the sole cost and expense of the Servicer), a copy of an agreed upon procedures report of an accounting firm or consulting firm reasonably acceptable to the Collateral Agent and each Administrative Agent, addressed to the Collateral
Agent, each Administrative Agent and each Purchaser Agent and setting forth the results of such firm’s performance of agreed upon procedures with respect to the performance of the Servicer for the prior fiscal year or 12 month period, as
requested by the Collateral Agent or any Administrative Agent. The scope of the above agreed upon procedures report shall be as reasonably requested by the Collateral Agent and each Administrative Agent. Notwithstanding the foregoing, so long as no
Event of Termination, Collection Control Event or Non-Reinvestment Event has occurred and is continuing, the Servicer shall not be required to deliver the foregoing agreed upon procedures report more than once in 12 month period. 

  
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 (g) Change in Credit and Collection Policy or Business. At least thirty
(30) days prior to (i) the effectiveness of any material change in or material amendment to the Credit and Collection Policy, a description or, if available, a copy of the Credit and Collection Policy then in effect and a written notice
(A) indicating such change or amendment and (B) if such proposed change or amendment could reasonably be expected to adversely affect the value, validity, collectability or enforceability of the Pool Receivables or decrease the credit
quality of any newly created Pool Receivables (in each case, taken as a whole), requesting the Collateral Agent’s, each Administrative Agent’s and each Purchaser Agent’s consent thereto. 

(h) Other Information. Promptly, from time to time, such Records or other information, documents, records or reports
respecting the condition or operations, financial or otherwise, of the Servicer or Sprint Corporation, as the Collateral Agent, any Administrative Agent or any Purchaser Agent may from time to time reasonably request relating to the Sellers, the
transactions contemplated hereby, the Pool Receivables and the Related Assets in order to protect the interests of the Collateral Agent, the applicable Administrative Agent, any Purchaser Agent or any Purchaser under or as contemplated by this
Agreement or any other Transaction Document or to comply with any Law or any regulatory authority; provided that, information relating to specific Receivables shall be limited to the Sprint Information and, during the continuance of an Event
of Termination or Non-Reinvestment Event, such other information (including Subscriber Confidential Information) that the Collateral Agent or the applicable Administrative Agent determines in good faith is necessary or desirable to exercise or
enforce its, the Purchasers’ and the Purchaser Agents’ rights and remedies hereunder and in such Receivables. 

(i) Servicing Programs. If a license or approval is required for the Collateral Agent’s, any Administrative
Agent’s or such successor Servicer’s use of any software or other computer program used by Sprint Spectrum in the servicing of the Receivables, then, following delivery of a Successor Notice, Sprint Spectrum shall at its own expense make
reasonable efforts to arrange for the Collateral Agent, such Administrative Agent or such successor Servicer to receive any such required license or approval. 

SECTION 7.6 Negative Covenants of Sprint Spectrum. From the date hereof until the Final Payout Date, Sprint Spectrum,
individually and when acting as the Servicer, shall not: 
 (a) Extension or Amendment of Receivables. Except as
permitted under Section 8.2(b), extend, amend or otherwise modify the terms of any Pool Receivable or amend, modify or waive any term or condition of any related Contract (including without limitation in respect of any ISC Contract, the
Designated Installment Payment Term or the terms of the Upgrade Program), in each case unless prior to any such extension, amendment or modification, a corresponding Deemed Collection payment in respect of the related Pool Receivable is made in
connection herewith. 
 (b) Change in Credit and Collection Policy, Upgrade Policy or Business. (i) Make or
consent to any change in the Credit and Collection Policies if such proposed 

  
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change or amendment could reasonably be expected to adversely affect the value, validity, collectability or enforceability of the Pool Receivables or decrease the credit quality of any newly
created Pool Receivables (in each case, taken as a whole), (ii) make or consent to any change in the Upgrade Program (x) if such proposed change or amendment could reasonably be expected to result in a Material Adverse Effect, or
(y) in any manner which could permit an Obligor to elect to have a right to trade in its qualifying wireless communication device in satisfaction of such ISC Receivable after the date that such Obligor entered into an ISC Contract, in each case
without the prior written consent of the Collateral Agent, each Administrative Agent and each Purchaser Agent, unless prior to making or consenting to such change or amendment, a corresponding Deemed Collection payment in respect of such ISC
Receivable has been made, or (iii) make a change in the character of its business that would have or could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, in either case, without the prior written
consent of the Collateral Agent, each Administrative Agent and each Purchaser Agent. 
 (c) Change in Lock-Box Banks.
(i) Add any bank or lock-box account not listed on Schedule 6.1(m) as a Lock-Box Bank or Lock-Box Account unless the Collateral Agent and each Administrative Agent shall have previously approved and received duly executed copies of all
Lock-Box Agreements and/or amendments thereto covering each such new bank and lock-box account, (ii) terminate any Lock-Box Bank, Lock-Box Agreement or related Lock-Box Account without the prior written consent of the Collateral Agent, each
Administrative Agent and, in each case, only if all of the payments from Obligors that were being sent to such Lock-Box Bank will, upon termination of such Lock-Box Bank and at all times thereafter, be deposited in a Lock-Box Account with another
Lock-Box Bank covered by a Lock-Box Agreement and (iii) amend, supplement or otherwise modify any Lock-Box Agreement without the prior written consent of the Collateral Agent and each Administrative Agent. 

(d) Deposits to Accounts. Deposit or otherwise credit, or cause or permit to be so deposited or credited, or direct any
Obligor to deposit or remit, any Collection or proceeds thereof (other than as remitted to Seller pursuant to Section 1.3(a)(ii) hereof) to any account (or related lock-box, if applicable) other than any Lock-Box Account covered by a
Lock-Box Agreement. 
 (e) Mergers, Acquisitions, Sales, Etc. Consolidate or merge with or into any other person or
sell, lease or transfer all or substantially all of its property and assets, or agree to do any of the foregoing, unless (i) no Event of Termination, Unmatured Event of Termination, Collection Control Event or Non-Reinvestment Event has
occurred and is continuing or would result immediately after giving effect thereto, (ii) if Sprint Spectrum is not the surviving entity or if Sprint Spectrum sells, leases or transfers all or substantially all of its property and assets, the
surviving corporation or the Person purchasing or being leased the assets is a Subsidiary of Sprint Corporation and agrees to be bound by the terms and provisions applicable to Sprint Spectrum hereunder, (iii) no Change of Control shall result,
(iv) Sprint Corporation reaffirms in a writing, in form and substance reasonably satisfactory to the Collateral Agent, each Administrative Agent, that its obligations under the Performance Support Agreement shall apply to the surviving

  
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entity, (v) no Material Adverse Effect could reasonably be expected to result therefrom, and (vi) the Collateral Agent and each Administrative Agent receives such additional
certifications and opinions of counsel as it shall reasonably request. 
 (f) Sales, Liens, Etc. Except as
otherwise provided herein, sell, assign (by operation of Law or otherwise) or otherwise dispose of, or create or suffer to exist any Adverse Claim other than Permitted Adverse Claims, any Adverse Claim arising under any Transaction Document or
solely as the result of any action taken by the Collateral Agent, any Purchaser (or any assignee thereof), any Purchaser Agent or by any Administrative Agent) upon or with respect to, any Pool Receivable or related Contract or Related Assets in
respect of any Receivable Pool, or any interest therein, or any proceeds of any of the foregoing, or the ISC Cap Reserve Account or any Lock-Box Account to which any Collections of any Pool Receivable are sent, or any right to receive income or
proceeds from or in respect of any of the foregoing or purport to do any of the foregoing. 
 (g) No Linked
Accounts. The Servicer shall not permit any “Linked Account” (as defined in the Lock-Box Agreement with Wells Fargo Bank, National Association) to exist with respect to any Lock-Box Account maintained at Wells Fargo Bank, National
Association. The Servicer shall not permit any “Linked Account” or “Controlled Balance Account” (as defined in the Lock-Box Agreement with BofA) with respect to any Lock-Box Account maintained at BofA, except for (x) other
Lock-Box Accounts maintained at BofA in accordance with this Agreement and (y) that certain account of the Servicer maintained at BofA with an account number ending in “4491”; provided, however, that, at any time during the
continuance of a Specified Unmatured Event, an Event of Termination, Collection Control Event or a Non-Reinvestment Event, the Servicer shall, if so instructed in writing by the Collateral Agent or any Administrative Agent (in its sole discretion),
cause the Servicer’s account described in clause (y) above to cease to be such a “Linked Account” or “Controlled Balance Account” promptly, but not later than 2 Business Days following the Seller’s or the
Servicer’s receipt of such instruction. 
 SECTION 7.7 Nature of Obligations. Notwithstanding any limitation on recourse
contained herein or in any other Transaction Document: (i) the Sellers have the obligation to pay all Yield and other amounts due under Sections 3.1(b) and 3.4 or under Articles IV or XII in respect of each
Receivable Pool (which obligation shall be full recourse general obligations of Sellers), and (ii) all obligations of Sprint Spectrum so specified hereunder shall be full recourse general obligations of Sprint Spectrum. 

SECTION 7.8 Corporate Separateness; Related Matters and Covenants. Sprint Spectrum, the Servicer and each Seller covenant to
take such actions as shall be necessary in order that: 
 (a) Special Purpose Entity. Each Seller will be a special
purpose limited liability company whose primary activities are restricted in its limited liability company agreement to: (i) purchasing or otherwise acquiring from the Related Originators, owning, holding, granting security interests or selling
interests in Pool Receivables and 

  
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the Related Assets, (ii) entering into and performing under the agreements for the selling, servicing and financing of the Receivable Pools (including the Transaction Documents),
(iii) receiving cash payments of the RPA Deferred Purchase Price and automatically and immediately making cash payments from such amounts to its Related Originators as purchase price in accordance with the Sale Agreement or by declaring and
paying dividends and distributions to its Related Originators and (iv) conducting such other activities as it deems necessary or appropriate to carry out its primary activities. Each Seller shall maintain (or cause to be maintained) separate
company records, books of account and financial statements from those of any of its Affiliates; 
 (b) Commingling.
Except as otherwise expressly permitted by this Agreement, no Seller shall commingle any of its assets or funds with those of any of its Affiliates (other than any other Seller); 

(c) Independent Manager. At least one member of each Seller’s board of directors shall be an Independent Manager
and the limited liability company agreement of such Seller shall provide: (i) for the same definition of “Independent Manager” as used herein, (ii) that such Seller’s board of directors shall not approve, or take any other
action to cause the filing of, a voluntary bankruptcy petition with respect to such Seller unless the Independent Manager shall approve the taking of such action in writing before the taking of such action and (iii) that the provisions required
by clauses (i) and (ii) of this sentence cannot be amended except in accordance with this Agreement and without the prior written consent of the Independent Manager, the Collateral Agent, each Administrative Agent and each
Purchaser Agent; 
 (d) Corporate Formalities. Each Seller will strictly observe corporate formalities in its dealings
with the Servicer, the Originators and any Affiliates thereof (other than any other Seller). The Sellers shall not maintain joint bank accounts or other depository accounts to which the Servicer, the Originators and any Affiliates (other than any
other Seller) thereof has independent access, other than the Servicer’s right to access the Lock-Box Accounts and the ISC Cap Reserve Account in accordance with this Agreement. Each Seller shall maintain its limited liability company agreement
and other organizational documents in conformity with this Agreement; 
 (e) Conduct of Business. Each Seller shall
conduct its affairs strictly in accordance with its organizational documents and observe all necessary, appropriate and customary company formalities, including, but not limited to, holding all regular and special members’ and board of
directors’ (or managers’) meetings appropriate to authorize all corporate action, keeping separate and accurate minutes of its meetings, passing all resolutions or consents necessary to authorize actions taken or to be taken, and
maintaining accurate and separate books, records and accounts, including, but not limited to, payroll and intercompany transaction accounts; 

(f) No Other Business or Debt. No Seller shall engage in any business or activity except as set forth in the Transaction
Documents nor, incur any indebtedness or liability other than as expressly permitted by this Agreement. 

  
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 (g) Books and Records. Each Seller’s books and records will be
maintained separately from those of the Servicer, the Originators and any of their Affiliates (other than any other Seller) and in a manner such that it will not be difficult or costly to segregate, ascertain or otherwise identify the assets and
liabilities of such Seller from the assets and liabilities of the Servicer, the Originators and any of their Affiliates (other than any other Seller); 

(h) Operating Expenses. Each Seller’s operating expenses will not be borne by the Servicer, any Originator or any
of their Affiliates (other than any other Seller) except from capital contributions from its members. 
 (i) Disclosure of
Transactions. All financial statements of the Servicer, the Originators, Sprint Spectrum and any of its other Affiliates that are consolidated to include any Seller will disclose that (i) such Seller’s sole business consists of the
purchase or acceptance through capital contributions of the Receivables and Related Assets from its Related Originators and the subsequent retransfer of or granting of a security interest in such Receivables and Related Assets to certain purchasers
party to this Agreement, (ii) such Seller is a separate legal entity with its own separate creditors who will be entitled, upon its liquidation, to be satisfied out of the Seller’s assets prior to any assets or value in the Seller becoming
available to the Seller’s equity holders and (iii) the assets of the Seller are not available to pay creditors of the Servicer, any Originator or any Affiliate thereof (other than any other Seller); 

(j) Arm’s-Length Relationships. Each Seller shall maintain an arm’s-length relationship with the Servicer,
each Originator, Sprint Spectrum and its other Affiliates. No Seller on the one hand, or the Servicer, any Originator, Sprint Spectrum or any of its other Affiliates on the other hand will be or will hold itself out to be responsible for the debts
of the other (other than any other Seller) or the decisions or actions respecting the daily business and affairs of the other. Each Seller, the Servicer, any Originators, Sprint Spectrum and its other Affiliates will immediately correct any known
misrepresentation with respect to the foregoing, and they will not operate or purport to operate as an integrated single economic unit with respect to each other or in their dealing with any other entity (other than among the Sellers); 

(k) Allocation of Overhead. To the extent that any Seller, on the one hand, and the Servicer, any Originator or any
Affiliate thereof, on the other hand, have offices in the same location, there shall be a fair and appropriate allocation of overhead costs between them, and such Seller shall bear its fair share of such expenses, which may be paid through the
Servicing Fee or otherwise; 
 (l) Identification. Each Seller shall at all times hold itself out to the public under
such Seller’s own name as a legal entity separate and distinct from its equity holders, members, managers, the Servicer, any Originator or any Affiliate thereof (other than any other Seller); 

(m) Capital. Each Seller shall maintain adequate capital in light of its contemplated business operations; 

  
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 (n) Servicer and each Seller also agree that: 

(i) no Seller shall issue any security of any kind except certificates evidencing membership interests issued to its Related
Originators in connection with its formation, or incur, assume, guarantee or otherwise become directly or indirectly liable for or in respect of any obligation other than, (i) with respect to each Seller, such Seller’s liability for and
guarantee of each other Seller’s Obligations as contemplated hereby, (ii) as expressly permitted by the Transaction Documents and (iii) ordinary course operating expenses; 

(ii) no Seller shall sell, pledge or dispose of any of its assets, except as permitted by, or as provided in, the Transaction
Documents; 
 (iii) no Seller shall purchase any asset (or make any investment, by share purchase, loan or otherwise) except
as permitted by, or as provided in, the Transaction Documents; 
 (iv) no Seller shall make any payment, directly or
indirectly, to, or for the account or benefit of, any owner of any Voting Securities, security interest or equity interest in such Seller or any Affiliate of any such owner (except, in each case, as expressly permitted by the Transaction Documents);

 (v) no Seller shall make, declare or otherwise commence or become obligated in respect of, any dividend, stock or other
security redemption or purchase, distribution or other payment to, or for the account or benefit of, any owner of any Voting Securities or other equity interest in such Seller to any such owner or any Affiliate of any such owner other than from
funds received by it under Article III and so long as, in any case, the result would not directly or indirectly cause such Seller to be considered insolvent; 

(vi) No Seller shall have any employees; and 

(vii) Each Seller will provide for not less than ten (10) Business Days’ prior written notice to the Collateral Agent
and each Administrative Agent of any removal, replacement or appointment of any director that is currently serving or is proposed to be appointed as an Independent Manager of such Seller, such notice to include the identity of the proposed
replacement Independent Manager, together with a certification that such replacement satisfies the requirements for an Independent Manager set forth in this Agreement and the limited liability company agreement of such Seller. 

  
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 ARTICLE VIII 

ADMINISTRATION AND COLLECTION 

SECTION 8.1 Designation of the Servicer. 

(a) Sprint Spectrum as the Servicer. The servicing, administering and collection of the Pool Receivables relating to
each Receivable Pool on behalf of the Sellers, the Administrative Agents, Purchaser Agents, the Collateral Agent and Purchasers shall be conducted in accordance with this Agreement by the Person designated as the Servicer hereunder (the
“Servicer”) from time to time in accordance with this Section 8.1. Until the Collateral Agent (with the consent, or acting at the direction of, the Purchaser Agents) delivers to Sprint Spectrum and the Sellers a
Successor Notice in accordance with Section 8.1(b), Sprint Spectrum is hereby designated as, and hereby agrees to perform the duties and obligations of, the Servicer pursuant to the terms hereof. The Servicer shall receive a Servicing
Fee in respect of the Receivable Pools, payable as described in Article III, for the performance of its duties hereunder. 

(b) Successor Notice. In the event that an Event of Termination or Non-Reinvestment Event has occurred and is
continuing, upon the written direction of the Required Purchasers or the Administrative Agents acting jointly, the Collateral Agent shall, by notice to Sprint Spectrum and Sellers, immediately designate a successor Servicer pursuant to the terms
hereof (a “Successor Notice”) which such successor shall not be a Competitor and shall be selected by the Administrative Agents acting jointly; it being understood and agreed that, in any event, any Administrative Agent may (but
shall not be obligated to) serve as successor Servicer. Upon receipt of a Successor Notice, Sprint Spectrum agrees that it shall terminate its activities as the Servicer hereunder in a manner that the Administrative Agents reasonably believe will
facilitate the transition of the performance of such activities to the successor Servicer, and successor Servicer shall assume each and all of Sprint Spectrum’s obligations to service and administer the Pool Receivables, on the terms and
subject to the conditions herein set forth, and Sprint Spectrum shall use commercially reasonable efforts to assist such successor Servicer in assuming such obligations. The Collateral Agent shall not give, and the Administrative Agents and the
Purchasers shall not instruct the Collateral Agent to give, Sprint Spectrum a Successor Notice except after the occurrence of any Event of Termination or Non-Reinvestment Event that remains continuing. 

(c) Subservicers; Subcontracts. Except as provided in clauses (d) and (e) below, the
Servicer may not subcontract with any Person or otherwise delegate any of its duties or obligations hereunder except to any of its Affiliates or with the prior written consent of the Collateral Agent and each Administrative Agent (not to be
unreasonably withheld, conditioned or delayed); provided, that, notwithstanding any such designation, delegation or subcontract (including as provided in clauses (d) or (e) below) or any replacement or
substitution of Servicer pursuant to clause (a) or (b) above, the Servicer shall remain primarily and directly liable for the performance of all the duties and obligations of the Servicer pursuant to the terms hereof. 

  
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 (d) Amdocs Sub-Servicing Agreement. The Servicer may delegate its duties
and obligations to service and collect the Receivables hereunder to Amdocs pursuant to the terms of the Amdocs Sub-Servicing Agreement; provided, however, that: (i) the Servicer shall remain primarily and directly liable
hereunder for the performance of such delegated duties and obligations of the Servicer, and (ii) the Sellers, the Collateral Agent, the Administrative Agents, the Purchaser Agents and the Purchasers shall have the right to look solely to the
Servicer for performance of such delegated duties and obligations of the Servicer. 
 (e) TransCentra Sub-Servicing
Agreement. The Servicer may delegate its duties and obligations to process cash, checks, instruments or other remittances received from time to time in the TransCentra Serviced Lock-Boxes to TransCentra pursuant to the terms of the TransCentra
Sub-Servicing Agreement; provided, however, that: (i) the Servicer shall remain primarily and directly liable hereunder for the performance of such delegated duties and obligations of the Servicer, and (ii) the Sellers,
the Administrative Agents, the Purchaser Agents, the Collateral Agent and the Purchasers shall have the right to look solely to the Servicer for performance of such delegated duties and obligations of the Servicer. Notwithstanding the foregoing and
in addition to the Administrative Agents’ and the Collateral Agent’s other rights and remedies hereunder and under applicable law, if an Event of Termination, Non-Reinvestment Event or Collection Control Event has occurred and remains
continuing, then, upon the written direction of the Required Purchasers or any Administrative Agent, the Collateral Agent shall instruct the Servicer to, and the Servicer shall promptly (but not later than two Business Days following such
instruction) if so instructed, do either of the following, as selected by the Administrative Agents (acting jointly and in their joint discretion): (A) immediately terminate TransCentra’s right to access and control the TransCentra
Serviced Lock-Boxes and any cash, checks, instruments or other remittances received from time to time therein and provide the Collateral Agent or its designee with the exclusive right to access and control the TransCentra Serviced Lock-Boxes and any
cash, checks, instruments or other remittances received from time to time therein (including by delivering written instructions to such effect to the post office or postmaster maintaining the TransCentra Serviced Lock-Boxes), or (B) deliver to
the Collateral Agent and each Administrative Agent a written agreement in form and substance acceptable to the Administrative Agents (in their sole discretion) executed by the Servicer and TransCentra, pursuant to which TransCentra acknowledges and
agrees (x) to the Sellers’ and the Collateral Agent’s ownership and security interests in the cash, checks, instruments or other remittances received from time to time in the TransCentra Serviced Lock-Boxes, (y) that TransCentra
has no Adverse Claim on, or other right to, any cash, checks, instruments or other remittances received from time to time in the TransCentra Serviced Lock-Boxes and (z) that TransCentra shall follow the Collateral Agent’s instructions
under the TransCentra Sub-Servicing Agreement (including, without limitation, with respect to the processing and deposit of such remittances and the TransCentra Serviced Lock-Boxes), rather than those of the Servicer or its Affiliates. The Sellers
and the Servicer shall take any further action that the Collateral Agent or any Administrative Agent may reasonably request to effect the transactions described in the foregoing sentence. 

  
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 SECTION 8.2 Duties of the Servicer. The Servicer shall take or cause to be taken
all such actions as may be necessary or advisable to collect, administer and service each Pool Receivable relating to each Receivable Pool from time to time with reasonable care and diligence and, in any event, with no less care and diligence than
it uses in the collection, administration and servicing of its own assets, and in accordance in all material respects with (i) applicable Laws and (ii) the Credit and Collection Policy. The Sellers, the Administrative Agents, the
Collateral Agent, Purchasers and Purchaser Agents hereby acknowledge and agree to this appointment of the Servicer. 
 (a)
Allocation of Collections; Segregation. The Servicer shall set aside and hold in trust Collections of Pool Receivables in accordance with Section 1.3. The Servicer shall allocate the amount of each Obligation payable to the
Collateral Agent, any Administrative Agent, any Purchaser Agent, any Purchaser, any Indemnified Party or any Affected Party to the Receivable Pool to which such obligation is directly attributable. If the amounts payable in respect of any Obligation
are not directly attributable to a single Receivable Pool, the Servicer shall (or, upon the occurrence and continuation of an Event of Termination, Collection Control Event or Non-Reinvestment Event, the Collateral Agent shall) allocate such amounts
to each Receivable Pool based upon the respective Allocation Percentage for each such Receivable Pool. 
 (b) Extension
and Modification of Receivables. So long as no Event of Termination, Collection Control Event or Non-Reinvestment Event is continuing, the Servicer, may, in accordance with the Credit and Collection Policy extend, waive, amend or otherwise
modify the terms of any Pool Receivables relating to a Receivable Pool, or amend, waive, or otherwise modify in any material respect any term or condition to any Contract related thereto as the Servicer may reasonably determine to be appropriate to
maximize Collections thereof; provided, that, (A) after giving effect to such extension, amendment, waiver or other modification, the sum of Purchasers’ Pool Investment and the Required Reserves in respect of such Receivable Pool at
such time shall not exceed the Net Portfolio Balance of such Receivable Pool at such time, and (B) no such extension, amendment, waiver or other modification shall make or be deemed to make any such Pool Receivable current or otherwise modify
the aging thereof. 
 (c) Documents and Records. The Sellers shall deliver (and cause each Originator to deliver) to
the Servicer, and the Servicer shall hold in trust for the Sellers, each Originator, each Administrative Agent, the Collateral Agent, each Purchaser Agent and each Purchaser, all Records (and any original documents relating thereto) (and after the
occurrence of an Event of Termination, Collection Control Event or Non-Reinvestment Event that remains continuing, shall deliver the same to the Collateral Agent or its designees promptly upon the Collateral Agent’s written request). Upon
written request of the Collateral Agent or any Administrative Agent, the Servicer shall provide the Collateral Agent and the Administrative Agents with the location(s) of all Records (and any original documents relating thereto). 

  
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 (d) Certain Duties of the Servicer and the Sellers. The Servicer shall, as
soon as practicable, following receipt of the collections of any Receivable that is not a Pool Receivable, a Related Asset or any other property included in the grant set forth in Section 9.1, turn over such collection to the Person
entitled to such collection. The Servicer, if other than Sprint Spectrum (or any of its Affiliates), shall, as soon as practicable upon demand, deliver to the Sellers (A) all documents, instruments, books, records, purchase orders, agreements,
reports and other information (including computer programs, tapes, disks, other information storage media, data processing software and related property and rights) in its possession that evidence or relate to Receivables of the Sellers other than
Pool Receivables and the Obligors of such Receivables, and (B) copies of all Records in its possession. 
 (e)
Termination. The Servicer’s authorization as such under this Agreement shall terminate upon the Final Payout Date. 

(f) Power of Attorney. The Sellers, each Administrative Agent, each Purchaser Agent, the Collateral Agent and each
Purchaser hereby grant to the Servicer an irrevocable power of attorney, with full power of substitution, coupled with an interest, to take in the name of the Sellers any and all steps which are necessary or advisable to endorse, negotiate or
otherwise realize on any writing or other right of any kind held or transmitted by the Sellers or transmitted or received by the Sellers in connection with any Pool Receivable or under the related Records. 

(g) Resignation of Sprint Spectrum as the Servicer. Sprint Spectrum shall not resign in its capacity as the Servicer
hereunder without the prior written consent of the Collateral Agent, each Administrative Agent and each Purchaser Agent, which consent shall be given or withheld in the sole and absolute discretion of the Collateral Agent, each Administrative Agent
and each Purchaser Agent. 
 SECTION 8.3 Rights of the Collateral Agent. In addition to all of its other rights herein
including under Articles IX and X, under the other Transaction Documents or at Law or in equity, the Administrative Agents and Collateral Agent shall have the other following rights set forth in this Section 8.3: 

(a) Notice to Obligors. At any time during the continuance of any Event of Termination, Collection Control Event or
Non-Reinvestment Event, upon the written direction of the Required Purchasers or the Administrative Agents acting jointly, (A) the Collateral Agent shall notify the Obligors of Pool Receivables, or any of them, of its interests in the Asset
Portfolios, and instruct them to make payments on the Pool Receivables as instructed by, the Collateral Agent and (B) the Servicer shall (on behalf of the Sellers), at the Sellers’ expense, give notice of the Collateral Agent’s
interest in the Pool Receivables to each said Obligor and instruct them to make payments on the Pool Receivables as instructed in writing by, the Collateral Agent or the Administrative Agents acting jointly. 

(b) Notice to Lock-Box Banks. At any time during the continuance of any Event of Termination, Collection Control Event
or Non-Reinvestment Event, the 

  
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Collateral Agent may (or shall if so directed by the Required Purchasers or any Administrative Agent), and is hereby authorized to, assume exclusive dominion and control over the Lock-Box
Accounts, and the Sellers and the Servicer shall take any further action that the Collateral Agent may reasonably request to effect such assumption. 

(c) Control. At any time during the continuance of any Event of Termination, Collection Control Event or
Non-Reinvestment Event, the Collateral Agent (i) may (or shall if so directed by the Required Purchasers or any Administrative Agent), and is hereby authorized to, assume exclusive dominion and control over the ISC Cap Reserve Account, and
(ii) if directed by the Required Purchasers, to utilize the amounts on deposit in the ISC Cap Reserve Account to purchase or cause the Servicer to purchase one or more Eligible Interest Rate Caps. The Sellers and the Servicer agree to take all
such further actions that the Collateral Agent may reasonably request to effect such assumption and rights contemplated by this Section 8.3(c). 

(d) Other Rights. At any time during the continuance of any Event of Termination, Collection Control Event or
Non-Reinvestment Event, the Servicer shall, (A) at the Collateral Agent’s request and at the Sellers’ expense, assemble all of the Records and deliver such Records to the Collateral Agent or its designee and (B) at the request of
the Collateral Agent or its designee, exercise or enforce any of their respective rights hereunder, under any other Transaction Document, under any Pool Receivable or under any Related Asset (to the extent permitted hereunder or thereunder). Without
limiting the generality of the foregoing, at any time, each of the Servicer and the Sellers shall upon the request of any Administrative Agent or the Collateral Agent or its designee and at the Sellers’ expense: 

(I) authorize, execute (if required) and file such financing or continuation statements, or amendments thereto or assignments
thereof, and such other instruments or notices, as may be necessary or appropriate; and 
 (II) mark its master data
processing records evidencing that the Pool Receivables have been sold in accordance with this Agreement. 
 (e)
Additional Financing Statements; Performance by the Administrative Agents. Each Seller hereby authorizes the Collateral Agent and each Administrative Agent or their respective designees to file one or more financing or continuation
statements, and amendments thereto and assignments thereof, or any similar instruments in any relevant jurisdiction relative to all or any of the Pool Receivables and Related Assets now existing or hereafter arising in the name of such Seller. Each
Seller agrees that a similar filing against it may also be filed for the purposes hereof and to perfect the security interest and transfers created hereby. If any Seller fails to perform any of its agreements or obligations under this Agreement or
any other Transaction Document, the Collateral Agent, any Administrative Agent or any of their respective designees may (but shall not be required to) itself perform, or cause performance of, such agreement or obligation, and the expenses of the
Collateral Agent or any such Administrative Agent or its designee incurred in connection therewith shall be payable by the Sellers as provided in Section 13.6. 

  
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 SECTION 8.4 Responsibilities of the Servicer. Anything herein to the contrary
notwithstanding: 
 (a) Contracts. The Servicer shall perform all of its obligations under the Records, so long as it
is an Affiliate of any Seller, to the same extent as if the Asset Portfolios had not been sold hereunder and the exercise by the Collateral Agent or its designee of its rights hereunder shall not relieve the Servicer from such obligations. 

(b) Limitation of Liability. None of the Collateral Agent, any Administrative Agent, any Purchaser or any Purchaser
Agent shall have any obligation or liability with respect to any Pool Receivables or Related Assets related thereto, nor shall any of them be obligated to perform any of the obligations of the Servicer, any Originator or any Seller thereunder. 

SECTION 8.5 Further Action Evidencing Purchases and Reinvestments. Each Seller agrees that from time to time, at its expense, it
shall (or cause the Servicer to) promptly execute and deliver all further instruments and documents, and take all further actions, that the Collateral Agent, any Administrative Agent or any of their respective designees may reasonably request or
that are reasonably necessary in order to perfect, protect or more fully evidence the transactions contemplated by the other Transaction Documents. 

SECTION 8.6 Application of Collections. Unless the Collateral Agent instructs otherwise, any payment by an Obligor in respect of
any Pool Receivable shall, except as otherwise specified in writing or otherwise by such Obligor, required by Law or by the underlying Contract, be applied using the same systems, practices and procedures as Servicer uses for the application of
payments on all of the receivables serviced by it for itself and its Affiliates whether or not such payments are being made with respect to Pool Receivables 

SECTION 8.7 Collections outside the Lockbox Accounts. Notwithstanding anything herein or in any other Transaction Document to
the contrary, the Servicer and the Sellers shall be permitted to instruct Obligors to cause Collections with respect to Pool Receivables to an account that is not a Lock-Box Account covered by a Lock-Box Agreement and deposit such Collections in an
account that is not a Lock-Box Account covered by a Lock-Box Agreement (“Non Lock-Box Receivables”); provided, that the aggregate Unpaid Balance of all Eligible Receivables that are Non Lock-Box Receivables relating to
any Receivable Pool does not exceed 8.00% of the aggregate Unpaid Balance of all Eligible Receivables in respect of such Receivable Pool at any time. 

SECTION 8.8 Clean-up Call. At any time that the aggregate Purchasers’ Total Investment in respect of both Receivable Pools
is less than 10% of the aggregate Purchasers’ Total Commitment in respect of both Receivable Pools in effect on the date hereof, the Servicer may, upon ten (10) Business Days’ prior written notice to the Collateral Agent, the
Administrative Agents, repurchase all Receivables, related Security and Collections from the Purchasers relating to the Receivable Pools at a price equal to the outstanding Purchasers’ Total 

  
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Investment and all Obligations and other amounts owing to the Collateral Agent, the Administrative Agents and the other Affected Parties as of the effective date of such repurchase;
provided, however, that no such repurchase shall occur unless, prior thereto, or concurrently therewith, the aggregate Purchasers’ Total Commitment in respect of both Receivable Pools has been reduced to zero in accordance with
Section 3.2(c). Such repurchase price in respect of the Receivables relating to each Receivable Pool shall be paid in cash by deposit to a Lock-Box Account and shall be deemed to be “Collections” for all purposes. 

SECTION 8.9 ISC Cap Reserve Account; ISC Cap Pool Hold-Back Amount; Calculation Agents. (a) On or prior to the Restatement
Effective Date, the Servicer shall cause to be established, in the name of the Servicer, a deposit account at an Eligible Bank, bearing a designation clearly indicating that the funds deposited therein are held for the benefit and security of the
Collateral Agent for the benefit of the Affected Parties (the “ISC Cap Reserve Account”). If, at any time, the ISC Cap Reserve Account ceases to be maintained with an Eligible Bank, the Seller shall, as promptly as practicable and
in any event within thirty (30) days after it, any Originator, any Seller or Sprint Corporation has actual knowledge thereof, (i) establish a new ISC Cap Reserve Account with a depository institution that is an Eligible Bank,
(ii) transfer any amounts held in the existing ISC Cap Reserve Account to such new ISC Cap Reserve Account, and (iii) cause such Eligible Bank to enter into a Control Agreement. After the occurrence and during the continuance of an Event
of Termination, a Non-Reinvestment Event or a Collection Control Event, the Collateral Agent shall be entitled to deliver a “Notice of Exclusive Control” under and as defined in the Control Agreement, whereupon the ISC Cap Reserve Account
shall be in the sole dominion and control of the Collateral Agent for the benefit and security of the Affected Parties. The Collateral Agent shall not deliver a “Notice of Exclusive Control” under and as defined in the Control Agreement
except after the occurrence and during the continuation of an Event of Termination, a Non-Reinvestment Event or a Collection Control Event. The Control Agreement shall be effective to give the Collateral Agent “control” of the ISC
Collection Account within the meaning of Section 9-104 of the UCC. 
 (b) On the Restatement Effective Date the Servicer
shall set aside and hold in trust for the ISC Administrative Agent on behalf of each Purchaser Group an amount equal to the ISC Cap Reserve Amount as determined in accordance with clause (x) of the definitions thereof. On or after the
Cap Account Trigger Date, the Servicer shall as promptly as practicable (and in any event within one (1) Business Day) remit to the ISC Cap Reserve Account an amount equal to the ISC Cap Reserve Amount. After the Cap Account Trigger Date, the
Servicer shall remit all ISC Cap Deficiency Amounts to the ISC Cap Reserve Account in accordance with clause (iv) of Section 1.3(a). On or after the Cap Account Trigger Date, amounts on deposit in, or to the credit of the ISC Cap
Reserve Account shall be used solely to purchase one or more Eligible Interest Rate Caps; provided, that if as of any Reporting Date the amounts on deposit in, or to the credit of the ISC Cap Reserve Account exceed the then current ISC
Cap Reserve Amount as reported to the Servicer immediately, prior to such Reporting Date and no Specified Unmatured Event, Event of Termination, Collection Control Event or Non-Reinvestment Event shall have occurred and be continuing, the Servicer
may withdraw from the ISC Cap Reserve Account an amount equal to such excess and apply such funds in accordance with Section 1.3. Except as expressly provided in clauses (iii) and (iv) of Section 1.3(c), amounts set
aside and held in trust pursuant to Section 1.3 in respect of the ISC Cap Reserve Amount and the Estimated ISC Cap Deficiency Amount shall be used solely to purchase an Eligible Interest Rate Cap. 

  
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 (c) If at any time, other than during a Cap Effective Period, the Cap LIBO Rate
equals or exceeds the Trigger Rate, the Sellers shall, from the ISC Cap Pool Hold-Back Amount, promptly (and in any event within five (5) Business Days) purchase one or more Eligible Interest Rate Caps from Eligible Counterparties. If the
available ISC Cap Pool Hold-Back Amount is not sufficient to purchase such Eligible Interest Rate Cap, the Sellers and the Servicer jointly and severally agree to fund such deficiency. 

(d) As an accommodation to the Servicer and the Sellers, the ISC Administrative Agent agrees that it shall, prior to the Cap
Counterparty Designation Date, act as Cap Calculation Agent hereunder. As Cap Calculation Agent it shall provide the Servicer with the Cap LIBO Rate on each Business Day that the Cap LIBO Rate is in excess of 0.40%. For the avoidance of doubt, the
ISC Administrative Agent, in performing such duties shall be acting in its capacity as ISC Administrative Agent for all purposes of this Agreement, including without limitation, Article XI and Article XII. 

(e) The Sellers agree that any Cap Calculation Agent other than the ISC Administrative Agent shall enter into an agreement, in
form and substance reasonably satisfactory to the Administrative Agents, for the benefit of the Parties to this Agreement to undertake the responsibilities of a Cap Calculation Agent set forth in this Agreement. 

(f) The Sellers and the Servicer also agree that on or prior to the date which is the three month anniversary of the
Restatement Effective Date that they shall have entered into an ISDA Master Agreement with one or more Eligible Counterparties and shall have agreed upon a standard form of a confirmation thereunder for each Eligible Interest Rate Cap to be
purchased from each such Eligible Counterparty, which shall be in form and substance reasonably satisfactory to the Administrative Agents. 

ARTICLE IX 
 SECURITY
INTEREST 
 SECTION 9.1 Grant of Security Interest. Without limiting Section 1.2(c) or (d), to secure
all Obligations of the Sellers and all other amounts owing to any Affected Party under or in connection with this Agreement and each other Transaction Document, whether now or hereafter existing, due or to become due, direct or indirect, or absolute
or contingent, including, all Indemnified Amounts, payments on account of Collections received or deemed to be received and fees and expenses, in each case pro rata according to the respective amounts thereof, each Seller hereby
assigns and pledges to the Collateral Agent, for the benefit of the Affected Parties, and hereby grants to the Collateral Agent, for the benefit of the Affected Parties, a security interest in, and general lien on all of the following: all of such
Seller’s right, title and interest now or hereafter existing in, to and under all of such Seller’s assets, whether now owned or hereafter acquired, and wherever located (whether or not in the possession or control of such Seller),
including all of its right, title and interest in, to and under each of the following, in each case, whether now owned or existing hereafter arising, acquired, or originated, 

  
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or in which such Seller now or hereafter has any rights, and wherever located (whether or not in the possession or control of such Seller) and all proceeds of any of the foregoing (collectively,
and together with the Asset Portfolios relating to the Receivable Pools, the “Collateral”): (I) all Receivables; (II) the Related Assets in respect of each Receivable Pool; (III) the Collections in respect of each Receivable
Pool; (IV) all Accounts in respect of each Receivable Pool; (V) all Chattel Paper in respect of each Receivable Pool; (VI) all Contracts; (VII) all Deposit Accounts; (VIII) all Documents in respect of each Receivable Pool; (IX) all Payment
Intangibles in respect of each Receivable Pool; (X) all General Intangibles in respect of each Receivable Pool; (XI) all Instruments in respect of each Receivable Pool; (XII) all Inventory in respect of each Receivable Pool; (XIII) all
Investment Property in respect of each Receivable Pool; (XIV) all letter of credit rights and supporting obligations in respect of each Receivable Pool; (XV) the Sale Agreement and all rights and remedies of such Seller thereunder; (XVI) all
Eligible Interest Rate Caps entered into by the Sellers, the right to receive all Cap Payments and all other rights and remedies in respect thereof, (XVII), all other assets in the Asset Portfolio relating to each Receivable Pool; (XVIII) all
rights, interests, remedies and privileges of such Seller relating to any of the foregoing (including the right to sue for past, present or future infringement of any or all of the foregoing; and (XIX) to the extent not otherwise included, all
products and Proceeds (each capitalized term in clauses (I) through (XIX) not otherwise defined in this Agreement, as defined in the UCC) of each of the foregoing clauses (I) through (XVIII) and
all accessions to, substitutions and replacements for, and rents, profits and products of each of the foregoing (including insurance proceeds), and all distributions (whether in money, securities or other property) and collections from or with
respect to any of the foregoing. 
 Each Seller hereby authorizes the filing of financing statements, including those filed under
Section 8.3(d), describing the collateral covered thereby as “all of debtor’s personal property and assets” or words to that effect, notwithstanding that such wording may be broader in scope than the collateral described
in this Section 9.1. This Agreement shall constitute a security agreement under applicable Law. 
 SECTION 9.2
Remedies; Waiver. Upon, or at any time after, the declaration or automatic occurrence of the Purchase Termination Date pursuant to this Section 9.2, no Purchases or Reinvestments in respect of any Receivable Pool thereafter will
be made. Upon the declaration or automatic occurrence of the Purchase Termination Date pursuant to this Section 9.2, the Collateral Agent, on behalf of the Purchasers, shall have, in addition to all other rights and remedies under this
Agreement, any other Transaction Document or under applicable Law, all other rights and remedies provided under the UCC of each applicable jurisdiction and other applicable Laws (including all the rights and remedies of a secured party upon default
under the UCC (including the right to sell any or all of the Collateral subject hereto)), all of which rights shall be cumulative. To the fullest extent it may lawfully so agree, each Seller agrees that it will not at any time insist upon, claim,
plead, or take any benefit or advantage of any appraisal, valuation, stay, extension, moratorium, redemption or similar Law now or hereafter in force in order to prevent, delay, or hinder the enforcement hereof or the absolute sale of any part of
the Collateral; each Seller for itself and all who claim through it, so far as it or they now or hereafter lawfully may do so, hereby waives the benefit of all such Laws and all right to have the Collateral marshaled upon any foreclosure hereof, and
agrees that any court having jurisdiction to foreclose this Agreement may order the sale of the Collateral in its entirety. Without limiting the generality of the foregoing, each Seller hereby waives and releases any and

  
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all right to require the Collateral Agent or any Administrative Agent to collect any of such obligations from any specific item or items of the Collateral or from any other party liable as
guarantor or in any other manner in respect of any of such obligations or from any collateral for any of such obligations. Upon, or anytime after, the occurrence of an Event of Termination (other than an Event of Termination described in
Section 10.1(c)) or Non-Reinvestment Event that remains continuing, the Collateral Agent or any Administrative Agent shall, at the request, or may with the consent, of the Required Purchasers, by notice to the Servicer (on the
Sellers’ behalf) declare the Purchase Termination Date to have occurred and the Liquidation Period to have commenced and shall have all of the remedies set forth in Section 9.2 or otherwise herein. Upon the occurrence of an Event of
Termination described in Section 10.1(c), the Purchase Termination Date shall occur and the Liquidation Period shall commence automatically. 

ARTICLE X 
 EVENTS OF
TERMINATION 
 SECTION 10.1 Events of Termination. The following events shall be “Events of Termination”
hereunder: 
 (a) Any of the following events: 

(i) any Seller, Servicer, any Originator or Sprint Corporation shall fail to perform or observe any covenant or agreement as
and when required hereunder or under any other Transaction Document (other than any covenant or agreement referred to in clause (a)(ii) below) and such failure remains unremedied for thirty (30) days after the earlier of the date
(A) such Person receives notice of such failure from the Collateral Agent or any Administrative Agent or (B) a Responsible Officer obtains actual knowledge of such failure; 

(ii) any of the following shall occur: any Seller, Servicer, any Originator or Sprint Corporation shall fail to make any
payment or deposit or transfer of monies required to be made by it hereunder or under any other Transaction Document as and when due and such failure is not remedied within three (3) Business Days after the earlier of the date (A) such
Person receives notice of such failure from the Collateral Agent, any Administrative Agent or any Purchaser Agent or (B) a Responsible Officer obtains actual knowledge of such failure; 

(iii) the Servicer shall fail to deliver any Information Package when due pursuant to Section 3.1(a) and such
failure is not remedied within two (2) Business Days; 
 (b) any representation or warranty made or deemed to be made by
any Seller, the Servicer, any Originator or Sprint Corporation under or in connection with any Transaction Document shall prove to have been false or incorrect in any material respect when made or deemed to be made (without duplication as to any
materiality modifiers, qualifications, or limitations applicable thereto) for a period of ten (10) days after the 

  
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earlier of the date (i) such Person receives notice thereof from the Collateral Agent or any Administrative Agent, or (ii) a Responsible Officer obtains actual knowledge thereof (unless
such representation or warranty relates solely to one or more specific Pool Receivables and Seller makes a Deemed Collection payment with respect to such Pool Receivable if and as required pursuant to Section 3.2(a)); 

(c) an Event of Bankruptcy shall have occurred with respect to any Seller, the Servicer, Sprint Corporation, any Originator or
Sprint Corporation; 
 (d) a Change of Control shall occur; 

(e) (A) The Collateral Agent, for the benefit of the Purchasers, fails at any time to have a valid ownership interest or first
priority perfected security interest in the Pool Receivables and any Related Assets (or any portion thereof) and all identifiable cash proceeds of any of the foregoing, in each case, free and clear of any Adverse Claim (other than any Permitted
Adverse Claim) or (B) the Collateral Agent shall fail to have a valid first priority perfected security interest in each Lock-Box Account; 

(f) An ERISA Event shall have occurred that is reasonably expected to result in a Material Adverse Effect; provided,
however, that the occurrence of any ERISA Event that results in or is reasonably expected to result in the imposition of a lien by the PBGC on the assets of any Seller shall be considered as reasonably expected to result in a Material Adverse
Effect. 
 (g) any of Servicer, Sprint Corporation, any Seller or any Originator, shall be (i) required to register as
an “investment company” or (ii) “controlled” by an “Investment Company”, in each case, under (and as defined in) the Investment Company Act; 

(h) any material provision of this Agreement, the Sale Agreement, the Fee Letters, the Lock-Box Agreements or the Performance
Support Agreement shall cease to be the valid and binding obligation enforceable against the Servicer, Sprint Corporation, any Seller or any Originator; 

(i) any Seller shall fail to pay in full all of its Obligations to the Collateral Agent, any Administrative Agent or any
Purchaser hereunder on or prior to the Legal Final; 
 (j) one or more final judgments for the payment of money in an
aggregate amount in excess of $250,000,000 (or, in the case of a judgment rendered against any Seller, individually, $15,325) shall be rendered against Sprint Corporation (or any Significant Subsidiary) and the same shall remain undischarged for a
period of 60 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 Sprint Corporation (or any Significant Subsidiary) to enforce any
such judgment; or 
 (k) the Performance Support Agreement is canceled, rescinded, amended or modified without the prior
written consent of the Collateral Agent, each Administrative Agent and each Purchaser Agent. 

  
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 An Event of Termination shall be deemed to be continuing until waived in writing by each
Administrative Agent, the Collateral Agent and the Required Purchasers. 
 ARTICLE XI 

PURCHASER AGENTS; COLLATERAL AGENT; 

ADMINISTRATIVE AGENTS; 

CERTAIN RELATED MATTERS 

SECTION 11.1 Limited Liability of Purchasers, Purchaser Agents, Collateral Agent and the Administrative Agents. The obligations
of the Collateral Agent, each Administrative Agent, each Purchaser and each Purchaser Agent under the Transaction Documents are solely the corporate obligations of such Person. Except with respect to any claim arising out of the willful misconduct
or gross negligence of such Person, no claim may be made by any Seller, any Originator, the Servicer, Sprint Spectrum or Sprint Corporation against the Collateral Agent, any Administrative Agent, any Purchaser or any Purchaser Agent or their
respective Affiliates, directors, members, managers, officers, employees, attorneys or agents for any special, indirect, consequential or punitive damages in respect of any claim for breach of contract or any other theory of liability arising out of
or related to the transactions contemplated by this Agreement or any other Transaction Document, or any act, omission or event occurring in connection therewith; and each Seller and the Servicer hereby waives, releases, and agrees not to sue upon
any claim for any such damages not expressly permitted by this Section 11.1, whether or not accrued and whether or not known or suspected to exist in its favor. Notwithstanding any provision of this Agreement or any other Transaction
Document to the contrary: (i) in no event shall the Collateral Agent, any Administrative Agent or any Purchaser Agent ever be required to take any action which exposes it to personal liability or which is contrary to the provision of any
Transaction Document or applicable Law and (ii) neither the Collateral Agent, any Administrative Agent nor any Purchaser Agent shall have any duties or responsibilities, except those expressly set forth herein, or any fiduciary relationship
with any party hereto or any other Person, and no implied covenants, functions, responsibilities, duties, obligations or liabilities on the part of the Collateral Agent, any Administrative Agent or any Purchaser Agent shall be read into this
Agreement or the other Transaction Documents or otherwise exist against the Collateral Agent, any Administrative Agent or any Purchaser Agent. In performing its functions and duties hereunder, the Collateral Agent and each Administrative Agent shall
act solely as the agent of the Purchasers and the Purchaser Agents, as applicable, and does not assume nor shall be deemed to have assumed any obligation or relationship of trust or agency with or for any Seller, any Originator, the Servicer, Sprint
Spectrum, Sprint Corporation or any other Person. 
 SECTION 11.2 Authorization and Action of each Purchaser Agent. By its
execution hereof, in the case of each Conduit Purchaser and Committed Purchaser, and by accepting the benefits hereof, each Enhancement Provider and Liquidity Provider, each such party hereby designates and appoints its related Purchaser Agent to
take such action as agent on its behalf and to exercise such powers as are delegated to such Purchaser Agent by the terms hereof, together with such powers as are reasonably incidental thereto. Each Purchaser Agent reserves the right, in its sole
discretion, to take any actions and exercise any rights or remedies, in each case, authorized or provided for under this Agreement or any other Transaction Document and any related agreements and documents. 

  
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 SECTION 11.3 Authorization and Action of each Administrative Agent and Collateral
Agent. 
 By its execution hereof, in the case of each Conduit Purchaser, Committed Purchaser and Purchaser Agent, each such party
hereby designates and appoints each of BTMUNY and Mizuho as an Administrative Agent and Mizuho as Collateral Agent to take such action as agent on its behalf and to exercise such powers as are delegated to such party by the terms hereof, together
with such powers as are reasonably incidental thereto. Each Administrative Agent and the Collateral Agent reserves the right, in its sole discretion, to take any actions and exercise any rights or remedies, in each case, authorized or provided for
under this Agreement or any other Transaction Document and any related agreements and documents. To the extent any provision of any Transaction Document requires the mutual agreement of the Administrative Agents and/or the Collateral Agent in order
for one or both Administrative Agents and/or the Collateral Agent to take any action, and a mutual agreement cannot be reached between the Administrative Agents, the course of action selected in writing by the Required Purchasers shall
control. If any provision of any Transaction Document permits the Collateral Agent or an Administrative Agent to take any action in its discretion, this paragraph shall not limit such discretionary right.

SECTION 11.4 Delegation of Duties of each Purchaser Agent. Each Purchaser Agent may execute any of its duties through agents or
attorneys in fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties. No Purchaser Agent shall be responsible to any Purchaser in its Purchaser Group for the negligence or misconduct of any agents or
attorneys in fact selected by it with reasonable care. 
 SECTION 11.5 Delegation of Duties of each Administrative Agent and the
Collateral Agent. The Collateral Agent and each Administrative Agent may execute any of its duties through agents or attorneys in fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties. Neither the
Collateral Agent nor any Administrative Agent shall be responsible to any Purchaser, any Purchaser Agent or any other Person for the negligence or misconduct of any agents or attorneys in fact selected by it with reasonable care. 

SECTION 11.6 Successor Administrative Agent and Collateral Agent. (a) An Administrative Agent may, upon at least thirty
(30) days’ notice to the Servicer (on the Sellers’ behalf), the other Administrative Agent and each Purchaser Agent, resign as an Administrative Agent. Such resignation shall not become effective until a successor agent (which may be
the other Administrative Agent) (i) is appointed by the Required Purchasers and so long as no Event of Termination, Collection Control Event or Non-Reinvestment Event has occurred and is continuing, by the Servicer (on the Sellers’ behalf)
(such consent not to be unreasonably withheld, conditioned or delayed), and (ii) has accepted such appointment. Upon such acceptance of its appointment as an Administrative Agent hereunder by a successor Administrative Agent, such successor
Administrative Agent shall succeed to and become vested with all the rights and duties of such retiring Administrative Agent, and such retiring Administrative Agent shall be discharged from its duties and obligations under the Transaction Documents.

  
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 (b) The Collateral Agent may, upon at least thirty (30) days’ notice to the Servicer
(on the Sellers’ behalf), the Administrative Agents and each Purchaser Agent, resign as Collateral Agent. Such resignation shall not become effective until a successor Collateral Agent (which shall be an Administrative Agent prior to the
occurrence of an Event of Termination) (i) is appointed by the Required Purchasers and so long as no Event of Termination, Collection Control Event or Non-Reinvestment Event has occurred and is continuing, by the Servicer (on the Sellers’
behalf) (such consent not to be unreasonably withheld, conditioned or delayed), and (ii) has accepted such appointment. Upon such acceptance of its appointment as the Collateral Agent hereunder by a successor Collateral Agent, such successor
Collateral Agent shall succeed to and become vested with all the rights and duties of such retiring Collateral Agent, and such retiring Collateral Agent shall be discharged from its duties and obligations under the Transaction Documents. 

SECTION 11.7 Indemnification. Each Committed Purchaser shall indemnify and hold harmless the Collateral Agent and each
Administrative Agent and their respective officers, directors, employees, representatives and agents (to the extent not reimbursed by the Sellers or the Servicer and without limiting the obligation of the Sellers or the Servicer to do so), ratably
in accordance with its aggregate Pool Commitments from and against any and all liabilities, obligations, losses, damages, penalties, judgments, settlements, costs, expenses and disbursements of any kind whatsoever (including in connection with any
investigative or threatened proceeding, whether or not such Person is designated a party thereto) that may at any time be imposed on, incurred by or asserted against the Collateral Agent or any such Administrative Agent for such Person as a result
of, or related to, any of the transactions contemplated by the Transaction Documents or the execution, delivery or performance of the Transaction Documents or any other document furnished in connection therewith (but excluding any such liabilities,
obligations, losses, damages, penalties, judgments, settlements, costs, expenses or disbursements to the extent resulting solely from the gross negligence or willful misconduct of such Person as finally determined by a court of competent
jurisdiction). 
 SECTION 11.8 Reliance, etc. Without limiting the generality of Section 11.1, the Collateral
Agent, each Administrative Agent and each Purchaser Agent: (a) may consult with legal counsel, independent certified public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken in good
faith by it in accordance with the advice of such counsel, accountants or experts; (b) makes no warranty or representation to any Purchaser or any other holder of any interest in Pool Receivables and shall not be responsible to any Purchaser or
any such other holder for any statements, warranties or representations made by other Persons in or in connection with any Transaction Document; (c) shall not have any duty to ascertain or to inquire as to the performance or observance of any
of the terms, covenants or conditions of any Transaction Document on the part of the Sellers or to inspect the property (including the books and records) of the Sellers; (d) shall not be responsible to any Purchaser or any other holder of any
interest in Pool Receivables for the due execution, legality, validity, enforceability, genuineness, sufficiency or value of any Transaction Document; and (e) shall incur no liability under or in respect of this Agreement or any other
Transaction Document by acting upon any notice (including notice by telephone), consent, certificate or other instrument or writing (which may be by facsimile or telex) believed by it to be genuine and signed or sent by the proper party or parties.

  
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 SECTION 11.9 Purchasers and Affiliates. Each of the Purchasers, the Purchaser
Agents, the Collateral Agent, the Administrative Agents and any of their respective Affiliates may generally engage in any kind of business with any Seller, any Originator, the Servicer, Sprint Corporation or any Obligor, any of their respective
Affiliates and any Person who may do business with or own securities of any Seller, any Originator, the Servicer, Sprint Corporation or any Obligor or any of their respective Affiliates. Notwithstanding anything to the contrary herein or in any
other Transaction Document, the failure of the representation and warranty set forth in Section 6.1(u) with respect to the business and financial affairs of the Purchasers to be true or correct shall not (x) constitute a default,
Event of Termination or Unmatured Event of Termination or (y) require the Sellers or Servicer to indemnify or otherwise reimburse any Affected Party for any losses related thereto. 

SECTION 11.10 Sharing of Recoveries. Each Purchaser agrees that if it receives any recovery, through set-off, judicial action or
otherwise, on any amount payable or recoverable hereunder in a greater proportion than should have been received hereunder or otherwise inconsistent with the provisions hereof, then the recipient of such recovery shall purchase for cash an interest
in amounts owing to the other Purchasers (as return of Investment or otherwise), without representation or warranty except for the representation and warranty that such interest is being sold by each such other Purchaser free and clear of any Lien
created or granted by such other Purchaser, in the amount necessary to create proportional participation by the Purchaser in such recovery. If all or any portion of such amount is thereafter recovered from the recipient, such purchase shall be
rescinded and the purchase price restored to the extent of such recovery, but without interest. 
 SECTION 11.11 Non-Reliance.
Each Purchaser expressly acknowledges that none of the Collateral Agent, the Administrative Agents, the Purchaser Agents nor any of their respective officers, directors, members, partners, certificateholders, employees, agents, attorneys-in-fact or
Affiliates has made any representations or warranties to it and that no act by the Collateral Agent, any Administrative Agent, or any Purchaser Agent hereafter taken, including any review of the affairs of any Seller, the Servicer or any Originator,
shall be deemed to constitute any representation or warranty by the Collateral Agent, any Administrative Agent or any Purchaser Agent. Each Purchaser represents and warrants to the Collateral Agent, each Administrative Agent and each Purchaser Agent
that, independently and without reliance upon the Collateral Agent, any Administrative Agent, any Purchaser Agent or any other Purchaser and based on such documents and information as it has deemed appropriate, it has made and will continue to make
its own appraisal of and investigation into the business, operations, property, prospects, financial and other conditions and creditworthiness of the Sellers, the Servicer, the Originators, and the Receivables and its own decision to enter into this
Agreement and to take, or omit, action under any Transaction Document. Without limiting the foregoing, the Purchasers and the Purchasers Agents acknowledge and agree that (i) the Administrative Agents have made certain of their own analytics,
credit evaluations, models and/or projections regarding the performance and expected performance of the Receivables Pools available to certain Purchasers and/or Purchaser Agents, (ii) such information was made available to it solely as an
accommodation by the applicable Administrative Agent and that such party has made its own independent credit analysis and investigation regarding the performance and expected performance of the applicable Receivable Pool, and (iii) no
Administrative Agent shall have any responsibility or liability for the accuracy or completeness of any such information. Except for 

  
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items specifically required to be delivered hereunder, neither the Collateral Agent nor any Administrative Agent shall have any duty or responsibility to provide any Purchaser Agent or Purchaser
with any information concerning the Sellers, the Servicer or the Originators or any of their Affiliates that comes into its possession or any of its officers, directors, members, partners, certificateholders, employees, agents, attorneys-in-fact or
Affiliates. 
 ARTICLE XII 

INDEMNIFICATION 

SECTION 12.1 Indemnities by the Sellers. 

(a) General Indemnity. Without limiting any other rights which any such Person may have hereunder or under applicable
Law, the Sellers agree to indemnify and hold harmless the Collateral Agent, each Administrative Agent, each Purchaser, each Purchaser Agent and each other Affected Party and each of their respective Affiliates, and all members, managers, directors,
shareholders, officers, employees and attorneys or agents of any of the foregoing (each an “Indemnified Party”), forthwith on demand, from and against any and all damages, losses, claims, liabilities and related costs and expenses,
including reasonable and documented attorneys’ fees and disbursements but excluding Taxes (indemnification for which shall be governed by Section 3.3(e)) (all of the foregoing being collectively referred to as “Indemnified
Amounts”) awarded against or incurred by any of them arising out of, relating to or in connection with the Transaction Documents, any of the transactions contemplated thereby, or the ownership, maintenance or funding, directly or
indirectly, of any Asset Portfolio (or any part thereof) or otherwise arising out of or relating to or resulting from the actions or inactions of any Seller, Servicer, Sprint Spectrum, any Originator or Sprint Corporation, provided, however,
notwithstanding anything to the contrary in this Article XII, excluding Indemnified Amounts solely to the extent (x) resulting from the gross negligence or willful misconduct on the part of such Indemnified Party as determined by a final
non-appealable judgment by a court of competent jurisdiction or (y) resulting from a claim brought by any Seller against an Indemnified Party for breach of such Indemnified Party’s obligations under any Transaction Document as determined
by a final non-appealable judgment by a court of competent jurisdiction. Without limiting the foregoing, the Sellers shall indemnify, subject to the express limitations set forth in this Section 12.1, and hold harmless each Indemnified
Party for any and all Indemnified Amounts arising out of, relating to or resulting from: 
 (i) the transfer by any Seller of
any interest in any Pool Receivable other than the transfer of any Pool Receivable and Related Assets to the Collateral Agent on behalf of the Purchasers pursuant to this Agreement, the transfer by any Originator to any Seller pursuant to the Sale
Agreement and the grant of a security interest to the Collateral Agent pursuant to this Agreement and to any Seller pursuant to the Sale Agreement; 

(ii) any representation or warranty made by any Seller under or in connection with any Transaction Document, any Information
Package or any 

  
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other information or report delivered by or on behalf of any Seller pursuant hereto, which shall have been untrue, false or incorrect when made or deemed made; 

(iii) the failure of any Seller to comply with the terms of any Transaction Document or any applicable Law (including with
respect to any Pool Receivable or Related Assets), or the nonconformity of any Pool Receivable or Related Assets with any such Law; 

(iv) the lack of an enforceable ownership interest, or a first priority perfected security interest, in the Pool Receivables
(and all Related Assets) in respect of any Receivable Pool against all Persons (including any bankruptcy trustee or similar Person); 

(v) the failure to file, or any delay in filing of, financing statements or other similar instruments or documents under the
UCC of any applicable jurisdiction or under any other applicable Laws with respect to any Pool Receivable whether at the time of any Purchase or Reinvestment or at any time thereafter; 

(vi) any suit or claim related to the Pool Receivables or any Transaction Document (including any products liability or
environmental liability claim arising out of or in connection with merchandise or services that are the subject of any Pool Receivable); 

(vii) failure by any Seller to comply with the “bulk sales” or analogous Laws of any jurisdiction; 

(viii) any loss arising, directly or indirectly, as a result of the imposition of sales or similar transfer type taxes or the
failure by any Seller to timely collect and remit to the appropriate authority any such taxes; 
 (ix) any commingling of any
Collections by any Seller, any Originator, Sprint Corporation or the Servicer relating to the Pool Receivables with any of their funds or the funds of any other Person; 

(x) the failure or delay to provide any Obligor with an invoice or other evidence of indebtedness; or 

(xi) any inability of any Originator or any Seller to assign any Receivable or Related Asset as contemplated under the
Transaction Documents; or the violation or breach by any Seller of any confidentiality provision, or of any similar covenant of non-disclosure, with respect to any Contract, or any other Indemnified Amount with respect to or resulting from any such
violation or breach. 
 (b) Contribution. If for any reason the indemnification provided above in this
Section 12.1 is unavailable to an Indemnified Party or is insufficient to hold an 

  
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Indemnified Party harmless, then Sellers shall contribute to the amount paid or payable by such Indemnified Party as a result of such loss, claim, damage or liability in such proportion as is
appropriate to reflect not only the relative benefits received by such Indemnified Party on the one hand and Sellers on the other hand but also the relative fault of such Indemnified Party as well as any other relevant equitable considerations. 

SECTION 12.2 Indemnity by the Servicer. Without limiting any other rights which any such Person may have hereunder or under
applicable Law, the Servicer agrees to indemnify and hold harmless each Indemnified Party from any and all Indemnified Amounts incurred by any of them and arising out of, relating to or resulting from: (i) any breach by it (in any capacity) of
any of its obligations or duties under this Agreement or any other Transaction Document; (ii) the untruth or inaccuracy of any representation or warranty made by it (in any capacity) hereunder or under any other Transaction Document;
(iii) the failure of any information contained in an Information Package to be true and correct, or the failure of any other information provided to any such Indemnified Party by, or on behalf of, the Servicer (in any capacity) to be true and
correct; (iv) any negligence or willful misconduct on its (in any capacity) part arising out of, relating to, in connection with, or affecting any transaction contemplated by the Transaction Documents, any Pool Receivable or any Related Asset;
(v) the failure by the Servicer (in any capacity) to comply with any applicable Law, rule or regulation with respect to any Pool Receivable or the related Contract or its servicing thereof; or (vi) any commingling of any funds by it (in
any capacity) relating to any Asset Portfolio with any of its funds or the funds of any other Person; provided, however, notwithstanding anything to the contrary in this Article XII, excluding Indemnified Amounts solely to the extent
(x) resulting from the gross negligence or willful misconduct on the part of such Indemnified Party as determined by a final non-appealable judgment by a court of competent jurisdiction, (y) resulting from a claim brought by Servicer
against an Indemnified Party for breach of such Indemnified Party’s obligations under any Transaction Document as determined by a final non-appealable judgment by a court of competent jurisdiction or (z) they constitute recourse with
respect to a Pool Receivable and the Related Assets by reason of bankruptcy or insolvency, or the financial or credit condition or financial default, of the related Obligor. 

ARTICLE XIII 

MISCELLANEOUS 
 SECTION
13.1 Amendments, Etc. No amendment, modification or waiver of any provision of this Agreement or consent to any departure by any Seller or the Servicer therefrom shall in any event be effective unless the same shall be in writing and
signed by the Sellers, the Servicer, the Collateral Agent, the Administrative Agent and the Required Purchasers, and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given;
provided, however, that no such amendment, waiver or modification shall (i) decrease the outstanding amount of, or extend the repayment of or any scheduled payment date for the payment of, any Yield in respect of the
Purchasers’ Pool Investment in respect of any Receivable Pool or any fees owed to any Purchaser, the Collateral Agent, any Purchaser Agent or any Administrative Agent without the prior written consent of such Person; (ii) forgive or waive
or otherwise excuse any repayment of the Purchasers’ Pool Investment in respect of any Receivable Pool without the prior written consent of each Purchaser 

  
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and the related Purchaser Agent affected thereby; (iii) increase the Pool Commitment in respect of any Receivable Pool of any Purchaser without its prior written consent; (iv) amend or
modify the ratable share of any Committed Purchaser’s Pool Commitment in respect of any Receivable Pool or its percentage of the Purchasers’ Pool Commitment relating to any Receivable Pool without such Committed Purchaser’s prior
written consent; (v) amend or modify the provisions of this Section 13.1, or the definition of “Delinquent Receivable”, “Defaulted Receivable”, “Eligible Receivable”, “Event of Termination”,
“Specified Unmatured Event”, “Unmatured Event of Termination”, “Collection Control Event”, “Non-Reinvestment Event”, “Required Purchasers”, “Net Portfolio Balance”, “Purchase
Termination Date” (other than pursuant to an extension thereof in accordance with Section 3.5), “Required Reserves” or “Yield Period” (or any of the definitions used in any such preceding definition in a manner
that would circumvent the intention of the restrictions set forth in this Section 13.1), in each case, without the prior written consent of each affected Purchaser and Purchaser Agent or (vi) release all or any material part of any
Asset Portfolio from the security interest granted by any Seller to the Collateral Agent hereunder without the prior written consent of each Purchaser and Purchaser Agent; provided, further, that the consent of Sprint Spectrum shall
not be required for the effectiveness of any amendment which modifies on a prospective basis, the representations, warranties, covenants or responsibilities of the Servicer at any time when the Servicer is not an Affiliate of Sprint Corporation;
provided, further, that no waiver of a Non-Reinvestment Event pursuant to Section 4.5(e) or Section 4.5(f) of this Agreement shall be effective unless the ISC Advance Rate Matrix shall have been amended taking
into account the performance of the ISC Receivable Pool as of such date. Notwithstanding anything in any Transaction Document to the contrary, none of Sellers or Servicer shall (and shall not permit Sprint Corporation to) amend, waive or otherwise
modify any other Transaction Document, or consent to any such amendment or modification, without the prior written consent of the Collateral Agent, each Administrative Agent and the Required Purchasers. 

SECTION 13.2 Notices, Etc. All notices and other communications provided for hereunder shall, unless otherwise stated herein, be
in writing (including facsimile and email communication) and shall be personally delivered or sent by express mail or nationally recognized overnight courier or by certified mail, first class postage prepaid, or by facsimile or email, to the
intended party at the address, facsimile number or email address of such party set forth in Schedule 13.2 or at such other address, facsimile number or email address as shall be designated by such party in a written notice to the other
parties hereto. All such notices and communications shall be effective, (a) if personally delivered or sent by express mail or courier or if sent by certified mail, when received, and (b) if transmitted by facsimile or email, when receipt
is confirmed by telephonic or electronic means. 
 SECTION 13.3 Successors and Assigns; Participations; Assignments. 

(a) Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto and
their respective successors and assigns. Except as otherwise provided herein, the Sellers and the Servicer may not assign or transfer any of their rights or delegate any of their duties hereunder or under any Transaction Document without the prior
consent of the Collateral Agent, each Administrative Agent and each Purchaser Agent. 

  
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 (b) Participations. Any Purchaser may sell to one or more Persons (each a
“Participant”) participating interests in the interests of such Purchaser hereunder; provided, however, that no Purchaser shall grant any participation under which the Participant shall have rights to approve any
amendment to or waiver of this Agreement or any other Transaction Document. Such Purchaser shall remain solely responsible for performing its obligations hereunder, and each Seller, the Servicer, the Collateral Agent, each Purchaser Agent and each
Administrative Agent shall continue to deal solely and directly with such Purchaser in connection with such Purchaser’s rights and obligations hereunder. Each Participant shall be subject to the requirements under Section 3.3(e)(v)
as if such Participant were a Purchaser, it being understood that the documentation required under such section shall be delivered to the participating Purchaser. A Purchaser shall not agree with a Participant to restrict such Purchaser’s right
to agree to any amendment hereto, except amendments that require the consent of all Purchasers or all Purchaser Agents. Each Purchaser that sells a participation shall, acting solely for this purpose as an agent of the Sellers, maintain a register
on which it enters the name and address of each Participant and the Purchases (and Yield, fees, and other similar amounts under this Agreement) of each Participant’s interest in the interests of such Purchaser under the Transaction Documents
(the “Participant Register”); provided that no Purchaser shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a
Participant’s interest in any Pool Receivables or Related Assets or other obligations under any Transaction Document) to any Person except to the extent that such disclosure is necessary to establish that such interest or other obligation is in
registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Purchaser 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, neither the Collateral Agent nor any Administrative Agent (in its capacity as an
Administrative Agent) shall have any responsibility for maintaining a Participant Register. 
 (c) Assignment by Conduit
Purchasers. This Agreement and each Conduit Purchaser’s rights and obligations under this Agreement (including its interest in the Asset Portfolio) or any other Transaction Document shall be freely assignable in whole or in part by such
Conduit Purchaser and its successors and permitted assigns to any Eligible Assignee without the consent of the Servicer (on the Sellers’ behalf) or any Seller except to the extent such consent may be required solely in accordance with
clause (iv) of the definition of Eligible Assignee. Each assignor of all or a portion of its interest in the Asset Portfolios shall notify the Collateral Agent, the Administrative Agents, the related Purchaser Agent and the Servicer
(on the Sellers’ behalf) of any such assignment. Each assignor of all or a portion of its interest in the Asset Portfolios may, in connection with such assignment and subject to Section 13.8, disclose to the assignee any information
relating to the Asset Portfolios, furnished to such assignor by or on behalf of the Sellers, the Servicer, the Collateral Agent or the Administrative Agents. Notwithstanding anything to the contrary set forth in this Agreement, any assignment by a
Conduit Purchaser of its rights and obligations under this Agreement (including its interest in each of the Asset Portfolios) shall be made on a pro rata basis with respect to its interest in 

  
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each Receivable Pool. Furthermore, notwithstanding anything to the contrary set forth herein (other than Section 13.3(f)), each Conduit Purchaser may at any time pledge, grant a security
interest in or otherwise transfer all or any portion of its interest in the Asset Portfolios or under this Agreement to a Collateral Trustee, in each case without notice to or the consent of the Sellers or the Servicer, but such pledge grant or
transfer shall not relieve any Person from its obligations hereunder. 
 (d) Assignment by Committed Purchasers.
(i) Each Committed Purchaser may freely assign to any Eligible Assignee without the consent of Seller except as required pursuant to clause (iv) of the definition of Eligible Assignee all or a portion of its rights and
obligations under this Agreement or in any other Transaction Document (including all or a portion of its Commitment and its interest in each of the Asset Portfolios) in each case, with prior written consent (such consent not to be unreasonably
withheld) of the Collateral Agent, each Administrative Agent, the related Purchaser Agent and prior written notice to Seller; provided, however that the parties to each such assignment shall execute and deliver to the Collateral Agent,
the Administrative Agents and to Seller, for its recording in the Register, a duly executed and enforceable joinder to this Agreement (“Joinder”). Notwithstanding anything to the contrary set forth in this Agreement, any assignment
by a Committed Purchaser of its rights and obligations under this Agreement (including its Commitment and its interest in each of the Asset Portfolios) shall be made on a pro rata basis with respect to its interest in each Receivable Pool. 

(ii) From and after the effective date specified in such Joinder, (x) the assignee thereunder shall be a party to this
Agreement and, to the extent that rights and obligations under this Agreement have been assigned to it pursuant to such Joinder, have the rights and obligations of a Committed Purchaser thereunder and (y) the assigning Committed Purchaser
shall, to the extent that rights and obligations have been assigned by it pursuant to such Joinder, relinquish such rights and be released from such obligations under this Agreement. In addition, any Committed Purchaser may assign all or any portion
of its rights (including its interest in each of the Asset Portfolios) under this Agreement to any Federal Reserve Bank without notice to or consent of Seller, the Servicer, any other Committed Purchaser, Conduit Purchaser, the Collateral Agent or
the Administrative Agents. 
 (e) Register. 

(i) Each Administrative Agent (on behalf of the Sellers) shall in respect of its related Receivable Pool maintain a register
for the recordation of the names and addresses of the Purchasers, and the Purchases (and Yield, fees and other similar amounts under this Agreement) pursuant to the terms hereof from time to time (the “Register”). The entries in the
Register shall be conclusive absent manifest error, and the Sellers, the Administrative Agents, the Collateral Agent and the Purchasers shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Purchaser solely
for U.S. federal income Tax purposes. The Register shall be available for inspection by any Seller and any Purchaser, at any reasonable time and from time to time upon reasonable prior notice. 

  
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 (ii) Each Administrative Agent shall also maintain in the Register each
assignee’s interest or obligations under the Transaction Documents with respect to each assignment pursuant to Section 13.3(c) or 13.3(d) and shall record such assignment upon notice from the applicable Purchaser.
The entries in the Register shall be conclusive absent manifest error. 
 (f) Status of Receivables. Notwithstanding
the foregoing, unless disposed of or assigned by the Servicer or the Collateral Agent in accordance with the terms of this Agreement (including pursuant to Section 9.2), each Purchaser’s interest in an Asset Portfolio shall remain
subject to the provisions of this Agreement, including the provisions relating to the re-conveyance of Receivables to the Sellers or the Servicer, notwithstanding any sale or assignment of such interest by
such Purchaser. 
 (g) Status of Conduit Purchasers. So long as any Conduit Purchaser holds any Investment, such
Conduit Purchaser shall be a multi-seller asset-backed commercial paper conduit. 

SECTION 13.4 No Waiver; Remedies; Set-Off. No failure on the part of the Collateral
Agent, any Administrative Agent, any Liquidity Provider, any Enhancement Provider, any Affected Party, any Purchaser, any Purchaser Agent or any Indemnified Party to exercise, and no delay in exercising, any right, power or remedy hereunder shall
operate as a waiver thereof; nor shall any single or partial exercise of any right, power or remedy hereunder preclude any other or further exercise thereof or the exercise of any other right, power or remedy. The rights and remedies herein provided
are cumulative and not exclusive of any rights or remedies provided by Law. Any waiver of this Agreement shall be effective only in the specific instance and for the specific purpose for which given. Without limiting the foregoing, each Purchaser,
each Purchaser Agent, the SCC Administrative Agent, Mizuho, the Collateral Agent, the ISC Administrative Agent, each Enhancement Provider, each Liquidity Provider, each Affected Party, and any of their Affiliates (each a “Set-off Party”) are each hereby authorized at any time during the continuance of an Event of Termination, Collection Control Event or Non-Reinvestment Event (in
addition to any other rights it may have) to setoff, appropriate and apply (without presentment, demand, protest or other notice which are hereby expressly waived) any deposits and any other indebtedness held or owing by such Set-off Party (including by any branches or agencies of such Set-off Party) to, or for the account of, the Sellers against amounts owing by the Sellers hereunder (even if
contingent or unmatured). For the avoidance of doubt, the applicable Set-off Party shall not set off against any deposits of the Servicer with respect to any obligations of the Sellers. 

SECTION 13.5 Binding Effect; Survival. 

(a) This Agreement shall be binding upon and inure to the benefit of the Sellers, Sprint Spectrum, the Collateral Agent, each
Administrative Agent, each Purchaser, and the provisions of Section 4.2 and Article XII shall inure to the benefit of the Affected Parties and Indemnified Parties, respectively, and their respective successors and assigns.

  
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 (b) Each Liquidity Provider, each Enhancement Provider and each other Affected
Party are express third party beneficiaries hereof. Subject to clause (i) of Section B of Appendix A hereto, this Agreement shall not confer any rights or remedies upon any other Person, other than the third
party beneficiaries specified in this Section 13.5(b). 
 (c) This Agreement shall create and constitute the
continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until the Final Payout Date. The rights and remedies with respect to any breach of any representation and warranty made by the
Sellers pursuant to Article VI and the indemnification and payment provisions of Article XII and Sections 1.2(e), 1.5, 3.2, 3.3, 4.1, 4.2, 4.3, 11.7, 13.4,
13.5, 13.6, 13.7, 13.8, 13.11, 13.12, 13.13 and 13.14 shall be continuing and shall survive any termination of this Agreement. 

SECTION 13.6 Costs and Expenses. The Sellers shall pay on demand all reasonable and documented out-of-pocket costs and expenses incurred by or on behalf of the Collateral Agent, each Administrative Agent, each Purchaser and each Purchaser Agent in connection with: 

(a) the negotiation, preparation, execution and delivery of this Agreement and the other Transaction Documents and any
amendment of or consent or waiver under any of the Transaction Documents (whether or not consummated), or the enforcement of, or any actual or reasonably claimed breach of, this Agreement or any of the other Transaction Documents, including
reasonable and documented accountants’, auditors’, consultants’ and attorneys’ fees and expenses to any of such Persons and the fees and charges of any nationally recognized statistical rating agency or any independent
accountants, auditors, consultants or other agents incurred in connection with any of the foregoing or in advising such Persons as to their respective rights and remedies under any of the Transaction Documents in connection with any of the
foregoing; and 
 (b) subject only to the limitations in Sections 7.1(c) and 7.4(c), the administration
(including periodic auditing as provided for herein) of this Agreement and the other Transaction Documents and the transactions contemplated thereby, including all reasonable and documented expenses and accountants’, consultants’ and
attorneys’ fees incurred in connection with the administration and maintenance of this Agreement and the other Transaction Documents and the transactions contemplated thereby; 

provided, however, that so long as no Unmatured Event of Termination, Event of Termination, Collection Control Event or
Non-Reinvestment Event has occurred and remains continuing, the Sellers’ obligation under this Section 13.6 to pay the reasonable and documented attorneys’ fees and expenses incurred by the Collateral Agent and each
Administrative Agent, the Purchasers and the Purchaser Agents shall be limited to paying the reasonable and documented fees and expenses of three (two if the Collateral Agent is also an Administrative Agent) law firms, each one selected by the
Collateral Agent and each Administrative Agent in its sole discretion; provided, further, however, that, for the avoidance of doubt, such limitation shall not apply to any reasonable and documented attorneys’ fees and
expenses incurred by the Collateral Agent and each Administrative 

  
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Agent, any Purchaser or any Purchaser Agent during the continuance of an Unmatured Event of Termination, Event of Termination, Collection Control Event or Non-Reinvestment Event even if such
event subsequently ceases to be continuing. 
 SECTION 13.7 No Proceedings. 

(a) Each Seller, the Servicer, the Collateral Agent, each Administrative Agent, each Purchaser and each Purchaser Agent, each
hereby agrees that it will not institute against any Conduit Purchaser, or join any other Person in instituting against any Conduit Purchaser, any proceeding of the type referred to in the definition of Event of Bankruptcy from the Closing Date
until one year plus one day following the last day on which all Commercial Paper Notes and other publicly or privately placed indebtedness of such Conduit Purchaser shall have been indefeasibly paid in full. The foregoing shall not limit any such
Person’s right to file any claim in or otherwise take any action with respect to any insolvency proceeding that was instituted by any Person other than such parties. 

(b) The Servicer, the Collateral Agent, each Administrative Agent, each Purchaser and each Purchaser Agent, each hereby agrees
that it will not institute against any Seller, or join any other Person in instituting against any Seller, any proceeding of the type referred to in the definition of Event of Bankruptcy; provided, however, that the Collateral Agent or
any Administrative Agent, with the prior consent of the Required Purchasers, may, or shall at the direction of the Required Purchasers institute or join any other Person in instituting any such proceeding against any Seller. The foregoing shall not
limit any such Person’s right to file any claim in or otherwise take any action with respect to any insolvency proceeding that was instituted by any Person other than such parties. 

SECTION 13.8 Confidentiality. 

(a) Each party hereto acknowledges that the Collateral Agent, each Administrative Agent, each Purchaser and each Purchaser
Agent regards the terms of the transactions contemplated by this Agreement to be proprietary and confidential, and each such party severally agrees that: 

(i) it will not disclose without the prior consent of the Collateral Agent, each Administrative Agent (other than to its
Collateral Trustee (if any) and its and its Affiliates’ directors, officers, employees and agents, accountants, auditors, counsel or other advisors (collectively, “representatives”) of such party, each of whom shall be informed
by such party of the confidential nature of the Program Information (as defined below) and of the terms of this Section 13.8), (1) any information regarding the pricing terms in, or copies of, this Agreement, any other Transaction
Document (other than any Lock-Box Agreement) or any transaction contemplated hereby or thereby, (2) any information regarding the organization, business or operations of any Purchaser generally or the
services performed by the Collateral Agent or any Administrative Agent for any Purchaser, or (3) any information which is furnished by the Collateral Agent or an 

  
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Administrative Agent to such party and is designated by the Collateral Agent or such Administrative Agent to such party in writing as confidential (the information referred to in clauses
(1), (2) and (3) is collectively referred to as the “Program Information”); provided that such party may disclose any such Program Information: (A) to any other party to this Agreement (and
any representatives so long as they are informed that such information is confidential and agree to keep such information confidential) for the purposes contemplated hereby, (B) to the extent requested by any regulatory authority or by
applicable Laws, (C) as may be required by any Governmental Authority having jurisdiction over such party, (x) in order to comply with any Law applicable to such party or (y) subject to subsection (c), in the event such
party is legally compelled (by interrogatories, requests for information or copies, subpoena, civil investigative demand or similar process) to disclose any such Program Information, (D) to any permitted assignee of such party’s rights and
obligations hereunder to the extent they agree to be bound by this Section 13.8, (E) in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights
hereunder or (F) to any nationally recognized statistical rating organization as contemplated by Section 17g-5 of the 1934 Act or in connection with obtaining or monitoring a rating on any Commercial
Paper Notes; 
 (ii) it, and any Person to which it discloses such information, will use the Program Information solely for
the purposes of evaluating, administering, performing and enforcing the transactions contemplated by this Agreement and making any necessary business judgments with respect thereto; and 

(iii) it, and any Person to which it discloses such information, will, upon written demand from the Collateral Agent or an
Administrative Agent, return (and cause each of its representatives to return) to the Collateral Agent or such Administrative Agent or destroy, all documents or other written material received from the Collateral Agent or such Administrative Agent,
as the case may be, pursuant to clauses (2) or (3) of subsection (i) above and all copies thereof made by such party which contain all Program Information; provided however that it may retain one
copy of such document or material and any Program Information incorporated into any of its credit review documentation, or as it otherwise deem necessary in order to comply with ordinary and customary retention requirements of financial
institutions, sound banking practices and audit and examination requirements or as otherwise may be required by applicable Law. Any Person required to maintain the confidentiality of any information as provided in this Section 13.8(a)
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. 

(b) Availability of Confidential Information. This Section 13.8 shall be inoperative as to such portions of
the Program Information which are or become generally available to the public or such party on a nonconfidential basis from a source 

  
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other than the Collateral Agent or an Administrative Agent or were known to such party on a nonconfidential basis prior to its disclosure by the Collateral Agent or such an Administrative Agent.

 (c) Legal Compulsion to Disclose. In the event that any party or anyone to whom such party or its representatives
transmits the Program Information is requested or becomes legally compelled (by interrogatories, requests for information or documents, subpoena, civil investigative demand or similar process) to disclose any of the Program Information, to the
extent permitted by applicable Law and if practical to do so under the circumstances, such party shall provide the Collateral Agent, each Administrative Agent, each Purchaser Agent and Sprint Spectrum with prompt written notice so that the
Collateral Agent or an Administrative Agent may at the expense of Sprint Spectrum seek a protective order or other appropriate remedy and/or if it so chooses, agree that such party may disclose such Program Information pursuant to such request or
legal compulsion. In the event that such protective order or other remedy is not obtained, or the Collateral Agent and the Administrative Agents waive compliance with the provisions of this Section 13.8(c), such party will furnish only
that portion of the Program Information which (in such party’s good faith judgment) is legally required to be furnished and will exercise commercially reasonable efforts to obtain reliable assurance that confidential treatment will be accorded
the Program Information. 
 (d) Disclosure of Tax Treatment and Structure. Notwithstanding anything herein to the
contrary, each party (and each employee, representative or other agent of each party) hereto may disclose to any and all Persons, without limitation of any kind, any information with respect to the United States federal income “tax
treatment” and “tax structure” (in each case, within the meaning of U.S. Treasury Regulation Section 1.6011-4) of the transactions contemplated hereby and all materials of any kind (including opinions or other Tax analyses) that
are provided to such parties (or their representatives) relating to such tax treatment and tax structure; provided, that with respect to any document or similar item that in either case contains information concerning the tax treatment or tax
structure of the transaction as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to the United States federal income tax treatment or tax structure of the transactions
contemplated hereby. 
 (e) Confidentiality of the Collateral Agent, the Administrative Agents and Purchasers. The
Collateral Agent, each Administrative Agent, each Purchaser, each Purchaser Agent, each Affected Party and their successors and assigns agrees to maintain the confidentiality of the Information (as defined below), except that Information may be
disclosed (i) to its Collateral Trustee (if any) and its and its Affiliates’ directors, officers, employees and agents, including accountants, legal counsel and other advisors (it being understood that the Persons to whom such disclosure
is made will be informed of the confidential nature of such Information and be instructed and agree or be otherwise bound to keep such Information confidential), (ii) to the extent requested by any regulatory authority or by applicable Laws,
(iii) to the extent required by any subpoena or similar legal process, provided, however, to the extent permitted by applicable Law and if practical to do so under the circumstances, that the Person relying on this clause
(iii) shall 

  
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provide the Servicer (on the Sellers’ behalf) with prompt notice of any such required disclosure so that the Sellers may seek a protective order or other appropriate remedy, and in the event
that such protective order or other remedy is not obtained, such Person will furnish only that portion of the Information which is legally required, (iv) to any other Affected Party, (v) in connection with the exercise of any remedies
hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights hereunder, (vi) subject to an agreement containing provisions substantially the same as those of this Section 13.8, (vii) to
any prospective participant or assignee provided such person agrees to be bound by this Section 13.8(e), (viii) with the consent of the Sellers, (ix) to the extent such Information (1) becomes publicly available other than
as a result of a breach of this Section 13.8 or any agreement contemplated by this Section 13.8 or (2) becomes available to such Person on a nonconfidential basis from a source other than the Servicer or its Subsidiaries
(and not in breach of this Section 13.8 or any agreement contemplated by this Section 13.8) or (x) to any nationally recognized statistical rating organization as contemplated by Section 17g-5 of the 1934 Act or in
connection with obtaining or monitoring a rating on any Commercial Paper Notes. For the purposes of this Section, “Information” means all information received from Servicer or any Affiliate relating to Servicer or any Affiliate or
their business, other than any such information that is available to such Person on a nonconfidential basis prior to disclosure by Servicer or any Affiliate. Any Person required to maintain the confidentiality of Information as provided in this
Section 13.8 shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential
information. Notwithstanding the foregoing, to the extent Information contains Subscriber Confidential Information, any request for Subscriber Confidential Information shall be subject to disclosure restrictions and security requirements as
reasonably agreed by Servicer and the Collateral Agent, each Administrative Agent, each Purchaser and each Purchaser Agent, as applicable, and as required by applicable Laws and government arrangements. 

SECTION 13.9 Captions and Cross References. The various captions (including the table of contents) in this Agreement are
provided solely for convenience of reference and shall not affect the meaning or interpretation of any provision of this Agreement. Unless otherwise indicated, references in this Agreement to any Section, Appendix, Schedule or Exhibit are to such
Section of or Appendix, Schedule or Exhibit to this Agreement, as the case may be, and references in any Section, subsection, or clause to any subsection, clause or subclause are to such subsection, clause or subclause of such Section, subsection or
clause. 
 SECTION 13.10 Integration. This Agreement, together with the other Transaction Documents, contains a final and
complete integration of all prior expressions by the parties hereto with respect to the subject matter hereof and shall constitute the entire understanding among the parties hereto with respect to the subject matter hereof, superseding all prior
oral or written understandings. 
 SECTION 13.11 Governing Law. THIS AGREEMENT, INCLUDING THE RIGHTS AND DUTIES OF THE PARTIES
HERETO, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK 

  
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(INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, BUT WITHOUT REGARD TO ANY OTHER CONFLICTS OF LAW PROVISIONS THEREOF, EXCEPT TO THE EXTENT THAT THE
PERFECTION, THE EFFECT OF PERFECTION OR PRIORITY OF THE INTERESTS OF THE COLLATERAL AGENT, ANY ADMINISTRATIVE AGENT OR ANY PURCHASER IN THE POOL RECEIVABLES OR RELATED ASSETS IS GOVERNED BY THE LAWS OF A JURISDICTION OTHER THAN THE STATE OF NEW
YORK). 
 SECTION 13.12 Waiver of Jury Trial. EACH PARTY HERETO HEREBY EXPRESSLY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY
ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER THIS AGREEMENT, ANY OTHER TRANSACTION DOCUMENT OR UNDER ANY AMENDMENT, INSTRUMENT OR DOCUMENT DELIVERED OR WHICH MAY IN THE FUTURE BE DELIVERED IN CONNECTION HEREWITH OR ARISING FROM ANY
BANKING OR OTHER RELATIONSHIP EXISTING IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER TRANSACTION DOCUMENT AND AGREES THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT A JURY. 

SECTION 13.13 Consent to Jurisdiction; Waiver of Immunities. EACH PARTY HERETO HEREBY ACKNOWLEDGES AND AGREES THAT: 

(a) IT IRREVOCABLY (i) SUBMITS TO THE JURISDICTION, FIRST, OF ANY UNITED STATES FEDERAL COURT, AND SECOND, IF FEDERAL
JURISDICTION IS NOT AVAILABLE, OF ANY NEW YORK STATE COURT, IN EITHER CASE SITTING IN NEW YORK CITY, NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT AND ANY OTHER TRANSACTION DOCUMENT, (ii) AGREES THAT ALL
CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED ONLY IN SUCH NEW YORK STATE OR FEDERAL COURT AND NOT IN ANY OTHER COURT, AND (iii) WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO, THE DEFENSE OF AN INCONVENIENT
FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING. 
 (b) TO THE EXTENT THAT IT HAS OR HEREAFTER MAY ACQUIRE ANY IMMUNITY
FROM THE JURISDICTION OF ANY COURT OR FROM ANY LEGAL PROCESS (WHETHER THROUGH SERVICE OR NOTICE, ATTACHMENT PRIOR TO JUDGMENT, ATTACHMENT IN AID TO EXECUTION, EXECUTION OR OTHERWISE) WITH RESPECT TO ITSELF OR ITS PROPERTY, IT HEREBY IRREVOCABLY
WAIVES SUCH IMMUNITY IN RESPECT OF ITS OBLIGATIONS UNDER OR IN CONNECTION WITH THIS AGREEMENT. 
 SECTION 13.14 Execution in
Counterparts. This Agreement may be executed in any number of counterparts and by the different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall
constitute one and the same Agreement. Delivery of an executed counterpart hereof by facsimile or other electronic means shall be equally effective as delivery of an originally executed counterpart. 

  
 93 

 SECTION 13.15 Pledge to a Federal Reserve Bank. Notwithstanding anything to the
contrary set forth herein (including in Section 13.3), (i) each Committed Purchaser or any assignee or participant thereof or (ii) in the event that any Conduit Purchaser assigns any of its interest in, to and under the Asset
Portfolios to any Liquidity Provider or Enhancement Provider, any such Person, may at any time pledge, grant a security interest in or otherwise transfer all or any portion of its interest in the Asset Portfolios or under this Agreement to secure
the obligations of such Person to a Federal Reserve Bank or otherwise to any other federal Governmental Authority or special purpose entity formed or sponsored by any such federal Governmental Authority, in each case without notice to or the consent
of the Sellers or the Servicer, but such pledge, grant or transfer shall not relieve any Person from its obligations hereunder 
 SECTION
13.16 Severability. Any provisions of this Agreement which are prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

SECTION 13.17 No Party Deemed Drafter. Sprint Spectrum, Servicer, each Seller, the Collateral Agent , each Purchaser and each
Administrative Agent agree that no party hereto shall be deemed to be the drafter of this Agreement. 
 SECTION 13.18 Excluded
Originator. The Servicer may designate any Originator as an “Excluded Originator” following any Unmatured Event of Termination or Event of Termination, but not later than the third Business Day following any Event of
Termination, that has occurred and results solely from an event or circumstance affecting such Originator by written notice to the Collateral Agent and each Administrative Agent, specifying the effective date of such designation (the
“Exclusion Effective Date” for such Excluded Originator) if all of the following conditions are then satisfied: 

(a) such Unmatured Event of Termination or Event of Termination, as the case may be, would not have occurred if such Originator
had not been a party to the Sale Agreement as an Originator thereunder at the time it occurred; 
 (b) no other Unmatured
Event of Termination, Event of Termination, Collection Control Event or Non-Reinvestment Event has occurred and is continuing or would occur as a result of such designation; 

(c) (i) the Servicer shall have prepared and forwarded to the Collateral Agent, each Administrative Agent a pro forma
Information Package for the immediately preceding Reporting Date, which pro forma Information Package shall be prepared excluding the Receivables relating to such Originator from the Pool Receivables and the Net Portfolio Balance relating to
each Receivable Pool for all purposes, and (ii) such pro forma Information Package does not report any Unmatured Event of Termination, Event of Termination, Collection Control Event or Non-Reinvestment Event on a pro forma basis
(giving effect to any reduction of the Purchaser Group Investments to occur concurrently with such designation); 

  
 94 

 (d) the aggregate Unpaid Balances of Receivables originated by such Originator
reflected in the most recently delivered Information Package, (i) when added to the aggregate Unpaid Balances of Receivables that were excluded from the Net Portfolio Balance in respect of both Receivable Pools by the designation of any other
Excluded Originators pursuant to this Section 13 during the 12 most recently completed calendar months (measured at the time of their respective Exclusion Effective Dates ), is less than 1.00% of the average monthly aggregate Unpaid
Balances of the Pool Receivables in respect of both Receivable Pools during the 12 most recently completed calendar months, and (ii) when added to the aggregate Unpaid Balances of Receivables that were excluded from the Net Portfolio Balance of
both Receivable Pools by the designation of any other Excluded Originators pursuant to this Section 13.18 at any time (measured at the time of their respective Exclusion Effective Dates), is less than 3.00% of the average monthly
aggregate Unpaid Balance of all Receivables during the 12 most recently completed calendar months; and 
 (e) on its
Exclusion Effective Date, (x) such Excluded Originator ceases to hold any membership or other equity interest in any Seller and no Change of Control would result therefrom (provided, that any such change in ownership in a Seller
shall not be deemed to be a Change of Control if one or more Originators own 100% of the Voting Securities of such Seller immediately following the Exclusion Effective Date), (y) any debts or amounts owing by the Sellers to such Excluded
Originator under the Sale Agreement and otherwise have been paid in full and (z) such Excluded Originator has ceased to be a party to the Sale Agreement in accordance with the terms thereof. 

Any pro forma Information Package provided pursuant to this Section 13.18 shall be subject to the
representations, warranties and indemnifications contained in herein and the other Transaction Documents on the same basis as any other Information Package. The representations, covenants and provisions of this Agreement applicable to an Originator
shall no longer be applicable to an Excluded Originator after the Exclusion Effective Date for such Excluded Originator. The parties hereto shall work together in good faith to effectuate any actions as may be appropriate in connection with the
designation of an Originator as an Excluded Originator. For the avoidance of doubt, any Pool Receivables originated by an Excluded Originator prior to its related Exclusion Effective Date shall continue to constitute Pool Receivables for all
purposes after such Exclusion Effective Date. 
 SECTION 13.19 Restatement; No Novation. (a) Effective as of the
Restatement Effective Date, the Original RPA is amended and restated as set forth in this Agreement. It is the intent of the parties hereto that this Agreement (i) shall re-evidence the Obligations under the Original RPA, (ii) is entered
into in substitution for, and not in payment of, the Obligations under the Original RPA, and (iii) is in no way intended to constitute a novation of any of the Obligations which was evidenced by the Original RPA or any of the other Transaction
Document (as defined in the Original RPA). 
 (b) As of the Restatement Effective Date, the portion of each Pool Receivable (as defined in
the Original RPA) and Related Assets (as defined in the Original RPA) purchased by the SCC Administrative Agent on behalf of the Purchasers on or prior to the Restatement 

  
 95 

 
Effective Date shall for all purposes of this Agreement be deemed to have been sold by the applicable Sellers to the Collateral Agent on behalf of the Purchasers in accordance with this
Agreement. 
 SECTION 13.20 Sprint Financing. The Collateral Agent, each Administrative Agent, each Purchaser Agent and each
Purchaser agree that if requested by the Servicer, they will negotiate in good faith to effect such amendments to this Agreement and the other Transaction Documents and to enter into such other agreements and documents as shall be necessary for
Sprint Corporation or a Sprint Subsidiary to effect an additional Sprint Financing, including without limitation, any lease or inventory securitization, financing or factoring transaction; provided, that nothing in this
Section 13.20 shall obligate any party to this Agreement to agree to any amendment or to enter into any agreement or document. 

[SIGNATURE PAGES FOLLOW] 

  
 96 

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

			
	SPRINT SPECTRUM L.P.,
	individually and as the Servicer
		
	By:		 /s/ Joseph J. Euteneuer

	Name:		Joseph J. Euteneuer
	Title:		Treasurer

  
 97 

 
			
	SFE 1, LLC
	SFE 2, LLC
	SFE 3, LLC
	SFE 4, LLC
	SFE 5, LLC
	SFE 6, LLC
	SFE 7, LLC
	SFE 8, LLC
	SFE 9, LLC
	SFE 10, LLC
	SFE 11, LLC
	SFE 12, LLC
	SFE 13, LLC
	SFE 14, LLC
	SFE 15, LLC, each as a Seller
		
	By:		 /s/ Joseph J. Euteneuer

	Name:		Joseph J. Euteneuer
	Title:		Treasurer

  
 98 

 
			
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH,
	as the SCC Administrative Agent
		
	By:		 /s/ Van Dusenbury

	Name:		Van Dusenbury
	Title:		Managing Director
	
	 MIZUHO BANK, LTD.
 as the ISC
Administrative Agent

		
	By:		 /s/ Bertram H. Tang

	Name:		Bertram H. Tang
	Title:		Authorized Signatory
	
	 MIZUHO BANK, LTD.
 as
Collateral Agent

		
	By:		 /s/ Bertram H. Tang

	Name:		Bertram H. Tang
	Title:		Authorized Signatory

  
 99 

 
			
	VICTORY RECEIVABLES CORPORATION,
	as a Conduit Purchaser
		
	By:		 /s/ David V. DeAngelis

	Name:		David V. DeAngelis
	Title:		Vice President
	
	 THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH,

as a Purchaser Agent for the Victory Purchaser Group

		
	By:		 /s/ Van Dusenbury

	Name:		Van Dusenbury
	Title:		Managing Director
	
	 THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., CHICAGO BRANCH,

as a Committed Purchaser for the Victory Purchaser Group

		
	By:		 /s/ Hirokazu Maruta

	Name:		Hirokazu Maruta
	Title:		Head of ACB (Midwest) & GM

  
 100 

 
			
	MIZUHO BANK, LTD.,
	as a Purchaser Agent for Mizuho Bank, Ltd., as Committed Purchaser
		
	By:		 /s/ Bertram H. Tang

	Name:		Bertram H. Tang
	Title:		Authorized Signatory
	
	 MIZUHO BANK, LTD.,
 as a
Committed Purchaser

		
	By:		 /s/ Bertram H. Tang

	Name:		Bertram H. Tang
	Title:		Authorized Signatory

  
 101 

 
			
	MANHATTAN ASSET FUNDING COMPANY LLC,
	as a Conduit Purchaser
		
	By:		MAF Receivables Corp., Its Member
		
	By:		 /s/ Irina Khaimova

	Name:		Irina Khaimova
	Title:		Vice President
	
	 SMBC NIKKO SECURITIES AMERICA, INC.,

as a Purchaser Agent for the Manhattan Purchaser Group

		
	By:		 /s/ Naoya Miyagaki

	Name:		Naoya Miyagaki
	Title:		President
	
	 SUMITOMO MITSUI BANKING CORPORATION,

as a Committed Purchaser for the Manhattan Purchaser Group

		
	By:		 /s/ Kosuke Uchida

	Name:		Kosuke Uchida
	Title:		Executive Director

  
 102 

 
			
	LIBERTY STREET FUNDING LLC, as a Conduit Purchaser
		
	By:		 /s/ Jill A. Russo

	Name:		Jill A. Russo
	Title:		Vice President
	
	THE BANK OF NOVA SCOTIA, as a Purchaser Agent for the Liberty Street Purchaser Group
		
	By:		 /s/ Paula J. Czach

	Name:		Paula J. Czach
	Title:		Managing Director
	
	THE BANK OF NOVA SCOTIA, as a Committed Purchaser for the Liberty Street Purchaser Group
		
	By:		 /s/ Paula J. Czach

	Name:		Paula J. Czach
	Title:		Managing Director

  
 103 

 
			
	 ATLANTIC ASSET SECURITIZATION LLC,

as a Conduit Purchaser

		
	By:		Crédit Agricole Corporate and Investment Bank,
	as attorney-in-fact
		
	By:		 /s/ Sam Pilcer

	Name:		Sam Pilcer
	Title:		Managing Director
		
	By:		 /s/ Kostantina Kourmpetis

	Name:		Kostantina Kourmpetis
	Title:		Managing Director
	
	CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as a Purchaser Agent for the Atlantic Asset Purchaser Group
		
	By:		 /s/ Sam Pilcer

	Name:		Sam Pilcer
	Title:		Managing Director
		
	By:		 /s/ Kostantina Kourmpetis

	Name:		Kostantina Kourmpetis
	Title:		Managing Director
	
	CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as a Committed Purchaser for the Atlantic Asset Purchaser Group
		
	By:		 /s/ Sam Pilcer

	Name:		Sam Pilcer
	Title:		Managing Director
		
	By:		 /s/ Kostantina Kourmpetis

	Name:		Kostantina Kourmpetis
	Title:		Managing Director

  
 104 

 
			
	SUMITOMO MITSUI TRUST BANK, LIMITED
	as a Purchaser Agent for Sumitomo Mitsui Trust Bank, Limited, as Committed Purchaser
		
	By:		 /s/ Katsumi Kaneko

	Name:		Katsumi Kaneko
	Title:		Vice President
	
	 SUMITOMO MITSUI TRUST BANK, LIMITED,

as a Committed Purchaser

		
	By:		 /s/ Katsumi Kaneko

	Name:		Katsumi Kaneko
	Title:		Vice President

  
 105EX-10.2

 Exhibit 10.2 
  

 
  

AMENDED AND RESTATED RECEIVABLES SALE AGREEMENT 

dated as of April 24, 2015 

between 
 SPRINT SPECTRUM L.P.,

 as an Originator and as Servicer 

and the 
 OTHER ORIGINATORS
FROM TIME TO TIME PARTY HERETO, 
 as Originators 

and 
 BUYERS FROM TIME TO TIME
PARTY HERETO, 
 as Buyers 
  

 
  

 TABLE OF CONTENTS 

 

									
	 	 	 	 	 	  	Page	 
				
	ARTICLE I	 		 	DEFINITIONS AND RELATED MATTERS	  	 	1	  
				
	        SECTION 1.1	 		 	        Defined Terms	  	 	1	  
				
	        SECTION 1.2	 		 	        Other Interpretive Matters	  	 	2	  
				
	ARTICLE II	 		 	AGREEMENT TO PURCHASE, SELL AND CONTRIBUTE	  	 	2	  
				
	        SECTION 2.1	 		 	        Purchase, Sale and Contribution	  	 	2	  
				
	        SECTION 2.2	 		 	        Timing of Purchases	  	 	2	  
				
	        SECTION 2.3	 		 	        Purchase Price	  	 	3	  
				
	        SECTION 2.4	 		 	        No Recourse or Assumption of Obligations	  	 	3	  
				
	ARTICLE III	 		 	ADMINISTRATION AND COLLECTION	  	 	4	  
				
	        SECTION 3.1	 		 	        Sprint Spectrum to Act as Servicer, Contracts	  	 	4	  
				
	        SECTION 3.2	 		 	        Deemed Collections	  	 	4	  
				
	        SECTION 3.3	 		 	        Actions Evidencing Purchases	  	 	6	  
				
	        SECTION 3.4	 		 	        Application of Collections	  	 	7	  
				
	ARTICLE IV	 		 	REPRESENTATIONS AND WARRANTIES	  	 	7	  
				
	        SECTION 4.1	 		 	        Mutual Representations and Warranties	  	 	7	  
				
	        SECTION 4.2	 		 	        Additional Representations and Warranties of the Originators	  	 	9	  
				
	ARTICLE V	 		 	GENERAL COVENANTS	  	 	12	  
				
	        SECTION 5.1	 		 	        Mutual Covenants	  	 	12	  
				
	        SECTION 5.2	 		 	        Additional Covenants of the Originators	  	 	12	  
				
	        SECTION 5.3	 		 	        Reporting Requirements	  	 	15	  
				
	        SECTION 5.4	 		 	        Negative Covenants of Each Originator	  	 	17	  
				
	        SECTION 5.5	 		 	        Collections Outside the Lockbox Accounts	  	 	19	  
				
	        SECTION 5.6	 		 	        Excluded Originator	  	 	20	  
				
	ARTICLE VI	 		 	TERMINATION OF PURCHASES	  	 	21	  
				
	        SECTION 6.1	 		 	        Voluntary Termination	  	 	21	  
				
	        SECTION 6.2	 		 	        Automatic Termination	  	 	21	  
				
	ARTICLE VII	 		 	INDEMNIFICATION	  	 	21	  
				
	        SECTION 7.1	 		 	        Each Originator’s Indemnity	  	 	21	  
				
	        SECTION 7.2	 		 	        Contribution	  	 	23	  

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
  

									
	 	 	 	 	 	  	Page	 
				
	ARTICLE VIII	 		 	MISCELLANEOUS	  	 	24	  
				
	        SECTION 8.1	 		 	        Amendments, etc	  	 	24	  
				
	        SECTION 8.2	 		 	        No Waiver; Remedies	  	 	24	  
				
	        SECTION 8.3	 		 	        Notices, Etc	  	 	24	  
				
	        SECTION 8.4	 		 	        Binding Effect; Assignment	  	 	24	  
				
	        SECTION 8.5	 		 	        Survival	  	 	25	  
				
	        SECTION 8.6	 		 	        Costs and Expenses	  	 	25	  
				
	        SECTION 8.7	 		 	        Execution in Counterparts; Integration	  	 	25	  
				
	        SECTION 8.8	 		 	        Governing Law	  	 	26	  
				
	        SECTION 8.9	 		 	        Waiver of Jury Trial	  	 	26	  
				
	        SECTION 8.10	 		 	        Consent to Jurisdiction; Waiver of Immunities	  	 	26	  
				
	        SECTION 8.11	 		 	        Confidentiality	  	 	26	  
				
	        SECTION 8.12	 		 	        No Proceedings	  	 	27	  
				
	        SECTION 8.13	 		 	        No Recourse Against Other Parties	  	 	27	  
				
	        SECTION 8.14	 		 	        Grant of Security Interest	  	 	27	  
				
	        SECTION 8.15	 		 	        Severability	  	 	27	  
				
	        SECTION 8.16	 		 	        Restatement; No Novation	  	 	27	  

  

			
	ANNEX 1	 	        UCC Details Schedule
	ANNEX 2	 	        Notice Information
	ANNEX 3	 	        Related Originators; Related Buyers; Initial Capital Contributions

 AMENDED AND RESTATED RECEIVABLES SALE AGREEMENT 

This AMENDED AND RESTATED RECEIVABLES SALE AGREEMENT, dated as of April 24, 2015 (this “Agreement”), is among SPRINT
SPECTRUM L.P., a Delaware limited partnership (“Sprint Spectrum”), as an originator and as initial servicer (in such capacity, the “Servicer”), THE PERSONS IDENTIFIED ON THE SIGNATURE PAGES HERETO AS ORIGINATORS
(together with Sprint Spectrum, the “Originators” and each, an “Originator”), and THE PERSONS IDENTIFIED ON THE SIGNATURE PAGES HERETO AS BUYERS (the “Buyers” and each, a “Buyer”).
For good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE I

 DEFINITIONS AND RELATED MATTERS 

SECTION 1.1 Defined Terms. In this Agreement, unless otherwise specified: (a) capitalized terms are used as defined in (or
by reference in) Appendix A to the Amended and Restated Receivables Purchase Agreement, dated as of the date hereof (as amended, restated, modified or otherwise supplemented from time to time, the “Receivables Purchase
Agreement”) among Buyers, as Sellers, the Servicer, the Conduit Purchasers, Committed Purchasers and Purchaser Agents from time to time party thereto, Mizuho Bank, Ltd. (“Mizuho”), as the Collateral Agent, Mizuho, as
the ISC Administrative Agent, and The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch, as the SCC Administrative Agent, and (b) as used in this Agreement, unless the context otherwise requires, the following terms have the meanings
indicated below: 
 “Contract” means with respect to a Receivable, a contract (including any purchase order or invoice)
between any Originator and an Obligor pursuant to which such Receivable arises or which evidences such Receivable. A “related” Contract with respect to a Receivable means a Contract under which such Receivable in a Receivable Pool arises.

 “Excluded Receivable” means any Receivable that is (i) more than 90 days past due or (ii) is at risk of
imminent write-off as determined by the Servicer in accordance with the Credit and Collection Policy, in either case, as of the Closing Date. 

“Originator Indemnified Party” is defined in Section 7.1. 

“Receivable” means any right to payment from a Person, whether constituting an account, chattel paper, instrument or a
general intangible (as such terms are defined under the UCC), arising from the sale of goods and/or provision of services by any Originator pursuant to a Contract, including the right to payment of any interest, finance charges and other payment
obligations of such Person with respect thereto; provided, however that no right to payment or other indebtedness owing by a Sanctioned Person shall (i) constitute a Receivable, (ii) be deemed to have been sold or contributed
to the Buyers by the Originators pursuant to this Agreement or (iii) sold or pledged under the Receivables Purchase Agreement by the Buyers provided, further, that, solely for purposes of this Agreement, no Excluded Receivable
shall constitute a “Receivable”. 

  
 1 

 “Related Assets” means (a) with respect to any Receivable, (x) all
security interests, hypothecations, reservations of ownership, liens or other adverse claims and property subject thereto from time to time purporting to secure payment of such Receivable, including pursuant to the Contract pursuant to which such
Receivable was originated, together with all financing statements, registrations, hypothecations, charges or other similar filings or instruments against an Obligor and all security agreements describing any collateral securing such Receivable, if
any, (y) in respect of any ISC Pool Receivable, all interest in any devices (including any such device which is or may become a Surrendered Device) relating to any Contract giving rise to such ISC Pool Receivable and (z) all guarantees,
insurance policies and other agreements or arrangements of whatsoever character from time to time supporting such Receivable whether pursuant to the Contract pursuant to which such Receivable was originated, including any obligation of any party
under the Transaction Documents to promptly deposit amounts received in respect of Collections to an account, (b) all Collections in respect of, and other proceeds of, the Receivables, (c) all rights and remedies (but none of the
obligations) of the Originators, as applicable, under this Agreement and any other rights or assets pledged, sold or otherwise transferred to the Buyers hereunder and (d) all the products and proceeds of any of the foregoing. 

“Related Buyer” means, with respect to any Originator, the Buyer identified as such on Annex 3. 

“Related Originator” means, with respect to any Buyer, the Originator or Originators identified as such on Annex 3.

 SECTION 1.2 Other Interpretive Matters. The interpretation of this Agreement, unless otherwise specified, is subject to
part (B) of Appendix A to the Receivables Purchase Agreement. 
 ARTICLE II 

AGREEMENT TO PURCHASE, SELL AND CONTRIBUTE 

SECTION 2.1 Purchase, Sale and Contribution. Upon the terms and subject to the conditions set forth in this Agreement, each
Originator, severally and for itself, hereby sells or contributes, as applicable, to its Related Buyer, and each Buyer hereby purchases or acquires from its Related Originator, all of such Related Originator’s right, title and interest in, to
and under the Receivables and the Related Assets, in each case whether now existing or hereafter arising, acquired, or originated. For the avoidance of doubt, the Originators are not hereby selling, contributing, pledging or otherwise assigning any
Excluded Receivables. 
 SECTION 2.2 Timing of Purchases. All Receivables existing at the opening of each Originator’s
business on the Closing Date are hereby sold or contributed, as applicable, to its Related Buyer on such date in accordance with the terms hereof. On and after the Closing Date until the Purchase Termination Date, each Receivable shall be deemed to
have been sold or contributed by each Originator to its Related Buyer immediately (and without further action by 

  
 2 

 
any Person) upon the creation or acquisition of such Receivable. The Related Assets with respect to each Receivable shall be sold or contributed at the same time as such Receivable, whether such
Related Assets exist at such time or arise, are acquired or are originated thereafter. 
 SECTION 2.3 Purchase Price.
(a) The purchase price (“Purchase Price”) for the Receivables and the Related Assets shall be an amount equal to the fair market value of the Receivables and the Related Assets (taking into account a discount for the time value
of money, historic and expected losses and the Originators’ obligations pursuant to Section 3.2), which shall initially be 99.75 % of the Unpaid Balance of the Receivables or as otherwise agreed to by each Originator and its
Related Buyer at the time of the purchase or acquisition. To the extent the value of a Receivable and Related Assets exceeds the Purchase Price, such excess shall be deemed a capital contribution to the equity of the Related Buyer by the applicable
Originator. 
 (b) On the date hereof, each Originator shall, severally and for itself, contribute Receivables (together with
the Related Assets) to its Related Buyer as an initial capital contribution to such Originator. 
 (c) Each Buyer shall pay
the Purchase Price due to its Related Originator on any day in immediately available funds; provided, however, to the extent that a Buyer does not have sufficient funds available to pay in full such Purchase Price as of the date of its
conveyance hereunder, the remaining portion of the Purchase Price shall be deferred until such time as the Buyer obtains such available funds, and the Related Originator’s recourse to Buyer for such deferred portion of the Purchase Price shall
be limited to such available funds; provided, however, that if any such deferred portion has not been paid by the Buyer on the date that is ninety (90) days following the sale of the related Receivables hereunder, the Related
Originator shall be deemed to have made a capital contribution to the Buyer in the amount of such unpaid deferred portion. 

(d) Although the Purchase Price for each Receivable (together with the Related Assets) coming into existence after the Closing
Date shall be due by the applicable Buyer to its Related Originator on the date such Receivable comes into existence, and such Purchase Price shall be made as provided in this Section 2.3, final settlement of the Purchase Price from each
Buyer to its Related Originator shall be effected on a monthly basis on each Settlement Date with respect to all Receivables coming into existence during the calendar month preceding such Settlement Date and based on the information contained in the
Information Package delivered by Servicer pursuant to the Receivables Purchase Agreement for the calendar month then most recently ended. On each Settlement Date, each Buyer and its Related Originator (or the Servicer on their behalf) shall cause a
reconciliation to be made in respect of all purchases that shall have been made during the calendar month then most recently ended. Although such reconciliation shall be effected on Settlement Dates, increases or decreases in any contribution of
capital by any Originator to its Related Buyer made pursuant to this Section shall be deemed to have occurred and shall be effective as of the date that the related Receivables came into existence. 

SECTION 2.4 No Recourse or Assumption of Obligations. Except as specifically provided in this Agreement, the purchase and sale
or contribution, as applicable, of Receivables 

  
 3 

 
and Related Assets under this Agreement shall be without recourse to any Originator. It is the express intent of each of the parties hereto that the transactions hereunder shall constitute
absolute and irrevocable true sales or valid contributions of Receivables and the Related Assets by each Originator to its Related Buyer (such that the Receivables and the Related Assets, other than those repurchased by the Originators pursuant to
the terms hereof, would not be property of any Originator’s estate in the event of any Originator’s bankruptcy). 
 None of the
Buyers, the Administrative Agents, the Collateral Agent, the Purchasers or the other Affected Parties shall assume any obligation or liability in connection with any Receivables or Related Assets, nor shall any Buyer, any Administrative Agent, the
Collateral Agent, any Purchaser or the other Affected Parties have any obligation or liability to any Obligor or other customer or client of any Originator (including any obligation to perform any of the obligations of any Originator under any
Receivables or Related Assets). 
 ARTICLE III 

ADMINISTRATION AND COLLECTION 

SECTION 3.1 Sprint Spectrum to Act as Servicer, Contracts. (a) Sprint Spectrum shall be responsible for the servicing,
administration and collection of the Receivables and the Related Assets for the benefit of each Buyer and for the benefit of each Administrative Agent (as Buyers’ assignee) on behalf of the Purchasers, and the Collateral Agent, all on the terms
set out in (and subject to any rights to terminate Sprint Spectrum as Servicer and appoint a successor Servicer pursuant to) the Receivables Purchase Agreement. 

(b) Each Buyer and each Originator hereby grant to Servicer an irrevocable power of attorney, with full power of substitution,
coupled with an interest, to take or cause to be taken in the name of such Buyer or such Originator, as the case may be, any and all steps which are necessary or advisable to endorse, negotiate, enforce, or otherwise realize on any Collections and
any checks, instruments, writing, other proceeds of the Receivables or other right of any kind held or transmitted by such Buyer or such Originator or transmitted or received by such Buyer or such Originator in connection with any Receivable and any
Related Assets (including under the related Records). 
 (c) Each Originator shall perform all of its obligations under the
Records to the same extent as if the Receivables had not been sold or contributed, as applicable, hereunder and the exercise by the Buyers, the Servicer, the Collateral Agent, each Administrative Agent or any of their respective designees of its
rights hereunder or under the Receivables Purchase Agreement shall not relieve any Originator from such obligations. 
 SECTION 3.2
Deemed Collections. (a) If on any day: 
 (i) the Unpaid Balance of any Receivable originated by any
Originator is: 
 (A) reduced or cancelled as a result of Dilution; and 

  
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 (B) less than the amount included in calculating the Net Portfolio Balance in
respect of any Receivable Pool for purposes of any Information Package (for any reason other than as a result of Dilution or such Receivable becoming a Defaulted Receivable or due to the application of Collections received with respect to such
Receivable); 
 (ii) any Receivable (or the terms of any related Contract governing such Receivable or in respect of any ISC
Upgrade Receivable, the Upgrade Program) is extended, amended, waived or otherwise modified (except as expressly permitted under Section 8.2(b) of the Receivables Purchase Agreement); 

(iii) the due date for payment of any Pool Receivable is extended to a date that is more than 30 days after such Pool
Receivable’s original due date; 
 (iv) there is discovered a breach of any of the representations or warranties of any
Originator set forth in Section 4.2(p) with respect to any Receivable as of the date of its transfer hereunder; or 

(v) during a Settlement Period, any Receivable becomes an Aged Receivable, but only to the extent that the aggregate Unpaid
Balance of all Receivables that became Aged Receivables during such Settlement Period does not exceed 8.00% of the aggregate initial Unpaid Balance of Receivables conveyed hereunder during such Settlement Period; 

then, on such day, the Originator that originated such Receivable or that made such representation or warranty, as the case may be, shall be deemed to have
received a Collection of such Receivable: 
 (1) in the case of clause (i) above, in the amount of such reduction
or cancellation or the difference between the actual Unpaid Balance (as determined immediately prior to the applicable event) and the amount included in respect of such Receivable in calculating the applicable Net Portfolio Balance or, with respect
to clauses (ii) and (iii) above, in the amount that such extension, amendment, modification or waiver affects the Unpaid Balance of the related Receivable in the sole determination of the applicable Administrative Agent, as
applicable; 
 (2) in the case of clause (iv) above, in the amount of the entire Unpaid Balance of the relevant
Receivable or Receivables (as determined immediately prior to the applicable event); or 
 (3) in the case of clause
(v) above, in the amount of the entire Unpaid Balance of the relevant Aged Receivable and the related Buyer shall convey to the Originator such Aged Receivables on such day and prior to their being written off as uncollectible;
provided, however, that no such conveyance by the Buyer shall occur unless such Receivable has been repurchased by the Buyer from the Collateral Agent pursuant to Section 1.4 of the Receivables Purchase Agreement. 

  
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 Collections deemed received by any Originator under this Section 3.2(a) are herein referred to as
“Deemed Collections”. Notwithstanding anything to the contrary set forth herein or any Transaction Documents (including, without limitation, Sections 3.2(a)(ii), 7.3(b), 7.6(a), 7.6(b) and 8.2(b)
in the Receivables Purchase Agreement), neither the Servicer nor any Originator shall permit any Obligor with respect to an ISC Receivable to extend, amend, terminate, waive or otherwise modify the related ISC Contract or the Upgrade Program in a
manner that reduces the Unpaid Balance of such ISC Receivable unless prior to any such extension, amendment, termination, waiver or modification a corresponding Deemed Collection payment equal to the amount of such reduction in respect of the
related Pool Receivable is made in connection therewith. 
 (b) Not later than the first Business Day after any Originator is
deemed to have received a Deemed Collection pursuant to Section 3.2(a)(i)-(iv), such Originator shall transfer an amount equal to such Deemed Collection to its Related Buyer in immediately available funds for application in accordance
with the Receivables Purchase Agreement. Deemed Collections under Section 3.2(a)(v) with respect to Aged Receivables shall be settled on the first Settlement Date to occur after the end of such Settlement Period through a
dollar-for-dollar decrease in (i) deferred payments of the Purchase Price otherwise payable hereunder, (ii) distributions in respect of the Originator’s equity in the related Buyer and/or (iii) in the cash portion of the Purchase
Prices for Receivables sold hereunder. 
 SECTION 3.3 Actions Evidencing Purchases. (a) On and following the Closing
Date, each Originator and the Servicer shall mark its accounting records evidencing Receivables and Contracts in a form acceptable to Related Buyer, the Collateral Agent and the Administrative Agents, evidencing that the Receivables have been
transferred to the Related Buyer in accordance with this Agreement, and none of the Originators or Servicer shall change or remove such mark without the consent of the Buyers, the Collateral Agent and each Administrative Agent. In addition, each
Originator agrees that from time to time, at its expense, it will promptly execute and deliver all further instruments and documents, and take all further action that the Buyers, the Collateral Agent, any Administrative Agent or any of their
respective designees may reasonably request in order to perfect, protect or more fully evidence the purchases, sales and contributions hereunder, or to enable the Buyers, the Collateral Agent and the Administrative Agents to exercise or enforce any
of their respective rights with respect to the Receivables and the Related Assets. Without limiting the generality of the foregoing, each Originator will upon the request of the Buyers, the Collateral Agent or any Administrative Agent:
(i) authorize and file such financing or continuation statements, or amendments thereto or assignments thereof, and such other instruments or notices, as may be necessary or appropriate; and (ii) at any time during the continuance of an
Event of Termination, Collection Control Event or Non-Reinvestment Event, mark its master data processing records evidencing that the Pool Receivables have been sold in accordance with this Agreement. 

(b) Each Originator hereby authorizes Buyers, the Collateral Agent and each Administrative Agent or their respective designees
(i) to file one or more financing or continuation statements, and amendments thereto and assignments thereof, relative to all or any of the Receivables and the Related Assets now existing or hereafter arising in the name of such Originator and
(ii) to the extent permitted by the Receivables Purchase Agreement, to notify Obligors of the assignment of the Receivables and the Related Assets. 

  
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 (c) Without limiting the generality of clause (a) above, each
Originator shall authorize and deliver and file or cause to be filed appropriate continuation statements not earlier than six months and not later than three months prior to the fifth anniversary of the date of filing of the financing statements
filed in connection with the Closing Date or any other financing statement filed pursuant to this Agreement, if the Final Payout Date shall not have occurred. 

SECTION 3.4 Application of Collections. Unless Buyer instructs otherwise, any payment by an Obligor in respect of any Receivable
shall, except as otherwise specified in writing or otherwise by such Obligor, required by Law or by the underlying Contract, be applied using the same systems, practices and procedures as Servicer uses for the application of payments on all of the
receivables serviced by it for itself and its Affiliates whether or not such payments are being made with respect to Receivables. 

ARTICLE IV 

REPRESENTATIONS AND WARRANTIES 

SECTION 4.1 Mutual Representations and Warranties. Each Originator represents and warrants to the Buyers, and each Buyer
represents and warrants to the Originators, as of the date hereof and as of each date in which a purchase and sale or contribution, as applicable, is made hereunder, as follows: 

(a) Organization and Good Standing. It has been duly organized in, and is validly existing as a corporation, partnership
or limited liability company, as applicable, in good standing under the Laws of its jurisdiction of organization, with power and authority to own its properties and to conduct its business as such properties are presently owned and such business is
presently conducted and will be conducted except to the extent that such failure could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(b) Due Qualification. It is duly qualified to do business as a foreign organization in good standing, if applicable,
and has obtained all necessary qualifications, licenses and approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business requires such qualifications, licenses or approvals, except where the failure to
be in good standing or to hold any such qualifications, licenses and approvals could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(c) Power and Authority; Due Authorization. It (i) has all necessary power and authority to (A) execute and
deliver this Agreement and the other Transaction Documents to which it is a party in any capacity, and (B) carry out the terms of and perform its obligations under the Transaction Documents applicable to it, and (ii) has duly authorized by
all necessary corporate, partnership or limited liability company action, as applicable, the execution, delivery and performance of this Agreement and the other Transaction Documents to which it is a party. 

  
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 (d) Binding Obligations. This Agreement constitutes, and each other
Transaction Document to be signed by such party when duly executed and delivered will constitute, a legal, valid and binding obligation of such party, enforceable against such party in accordance with its terms, subject to applicable bankruptcy,
insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 

(e) No Violation. The consummation of the transactions contemplated by this Agreement and the other Transaction
Documents and the performance by it of the terms hereof and thereof will not, (i) violate or result in a default under, (A) its articles or certificate of incorporation, by-laws, certificate of
formation, limited liability company agreement, partnership agreement or other organizational documents, as applicable, or (B) in the context of the transactions contemplated by this Agreement and the other Transaction Documents, any material
indenture, agreement or instrument binding on it, (ii) result in the creation or imposition of any Adverse Claim upon any of its properties pursuant to the terms of any such indenture, agreement or instrument except for any Adverse Claim that
could not reasonably be expected to have a Material Adverse Effect, or (iii) violate in any material respect any Law applicable to it or any of its properties. 

(f) Bulk Sales Act. No transaction contemplated hereby requires compliance by it with any bulk sales act or similar Law.

 (g) No Proceedings. There are no actions, suits or proceedings by or before any arbitrator or Governmental
Authority pending against or, to its actual knowledge, threatened against or affecting it (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 , (ii) seeking to prevent the servicing of the Receivables by it or the consummation of the purposes of this Agreement or of any of the other Transaction Documents or
(iii) that involve this Agreement or any other Transaction Document. 
 (h) Governmental Approvals. No
authorization or approval or other action by, and no notice to or filing with, any Governmental Authority is required for its due execution, delivery and performance of this Agreement or any other Transaction Document or the transactions
contemplated thereby, except for the filing of the UCC financing statements referred to in such Transaction Documents and filings with the SEC to the extent required by applicable Law. 

(i) Ordinary Course of Business. Each remittance of Collections on the Receivables transferred by an Originator to a
Buyer under this Agreement will have been (i) in payment of a debt incurred by such Originator in the ordinary course of business or financial affairs of such Originator and such Buyer and (ii) made in the ordinary course of business or
financial affairs of such Originator and such Buyer. 

  
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 SECTION 4.2 Additional Representations and Warranties of the Originators. Each
Originator represents and warrants to Buyers as of the date hereof and as of each date on which a purchase and sale or contribution, as applicable, is made hereunder (except for the representation in clause (k) below, which is made only
as of the date hereof), as follows: 
 (a) Valid Sale. This Agreement constitutes a valid sale, transfer and
assignment or contribution, as applicable, of the Receivables originated by it and the Related Assets to its Related Buyer, or alternatively a grant of a valid security interest in such Receivables and Related Assets to its Related Buyer,
enforceable against creditors of, and purchasers from it. 
 (b) Use of Proceeds. The use of all funds obtained by it
under this Agreement will not conflict with or contravene any of Regulations T, U and X promulgated by the Board of Governors of the Federal Reserve System. 

(c) Quality of Title. Prior to its sale or contribution to its Related Buyer hereunder, each Receivable, together with
the Related Assets, is owned by it free and clear of any Adverse Claim (other than Permitted Adverse Claims and any Adverse Claims arising under any Transaction Document); when its Related Buyer makes a purchase of or acquires such Receivable and
Related Assets by contribution, such Buyer shall have acquired, for fair consideration and reasonably equivalent value (and such Originator represents and warrants that it has taken all steps under the UCC necessary to transfer such good title and
ownership interests in such assets), free and clear of any Adverse Claim (other than Permitted Adverse Claims and any Adverse Claim arising under any Transaction Document; and no valid effective financing statement or other instrument similar in
effect covering any Receivable, any interest therein, and the Related Assets is on file in any recording office, except such as may be filed (i) in favor of such Originator or its Related Buyer in accordance with the Contracts or any
Transaction Document (and assigned to the Collateral Agent), (ii) in favor of its Related Buyer in accordance with this Agreement, (iii) in connection with any Adverse Claim arising solely as the result of any action taken by any Purchaser
(or any assignee thereof) or by the Collateral Agent or (iv) in favor of any Purchaser or Administrative Agent in accordance with the Receivables Purchase Agreement or any Transaction Document. 

(d) Financial Condition. All financial statements of Sprint Corporation and its Subsidiaries (including the notes
thereto) delivered to the Collateral Agent, each Administrative Agent and each Purchaser Agent pursuant to Section 7.5(a) of the Receivables Purchase Agreement, present fairly, in all material respects, the actual financial position and
results of operations and cash flows of Sprint Corporation and its Subsidiaries as of the dates and for the periods presented or provided (other than in the case of annual financial statements, in each case in accordance with GAAP, subject to
year-end audit adjustments and the absence of footnotes in the case of all interim balance sheets of Sprint Corporation. 

  
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 (e) Accurate Reports. None of the reports, financial statements,
certificates or other information (other than forward-looking statements, projections and statements of a general industry nature, as to which it represents only that it acted in good faith and utilized assumptions reasonable at the time made and
due care in the preparation of such statement or projection) furnished or to be furnished by or on behalf of it (including Information Packages furnished by the Servicer and each report furnished pursuant to Section 7.5(f) of the
Receivables Purchase Agreement) in writing (including, without limitation, by electronic delivery) to the Collateral Agent, any Administrative Agent, any Purchaser or any Purchaser Agent in connection with the Receivables Purchase Agreement or any
other Transaction Document or any amendment thereto or delivered hereunder or thereunder (as modified or supplemented by other information so furnished) taken together with any information contained in the public filings made by Sprint Corporation
with the SEC pursuant to the 1934 Act 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 materially misleading.

 (f) UCC Details. Its true legal name as registered in the sole jurisdiction in which it is organized and the
jurisdiction of such organization are specified in Annex 1 and the offices where it keeps all its Records are located at the addresses specified in Schedule 6.1(l) of the Receivables Purchase Agreement (or at such other locations, notified to
the Collateral Agent in accordance with Section 7.1(f) of the Receivables Purchase Agreement), in jurisdictions where all action required by Section 8.5 of the Receivables Purchase Agreement has been taken and completed.
Except as described in Annex 1, It has never had any, trade names, fictitious names, assumed names or “doing business as” names and is “located” in the jurisdiction specified in Annex 1 for purposes of
Section 9-307 of the UCC. It is organized only in a single jurisdiction. 
 (g) Lock-Box Accounts. The names and
addresses of all Lock-Box Banks, together with the account numbers of the Lock-Box Accounts at such Lock-Box Banks, are specified in Schedule 6.1(m) of the
Receivables Purchase Agreement (or have been notified to and approved by the Collateral Agent and each Administrative Agent in accordance with Section 7.3(d) of the Receivables Purchase Agreement). 

(h) Servicing Programs. No license or approval is required for the Buyers’, the Collateral Agent’s or any
Administrative Agent’s use of any software or other computer program used by such Originator, the Servicer or any sub-servicer in the servicing of the Receivables originated by such Originator, other than under the Amdocs Sub-Servicing
Agreement and those which have been obtained and are in full force and effect. 
 (i) Adverse Change. Since
January 31, 2014, (i) there has been no material adverse change in the value, validity, collectability or enforceability of the Receivables originated by such Originator and (ii) since the Closing Date, there has been no Material
Adverse Effect with respect to such Originator. 

  
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 (j) Credit and Collection Policies; Law. It has complied with the Credit
and Collection Policies in all material respects and such policies have not changed in any material respect since the Restatement Effective Date except as permitted under Sections 7.3(c) and 7.5(g) of the Receivables Purchase
Agreement. It has complied with all applicable Law except where the failure to do so, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect. 

(k) Investment Company Act. It is not (i) required to register as an “Investment Company” or
(ii) “controlled” by an “Investment Company”, in each case, under (and as defined in) the Investment Company Act. 

(l) 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; provided, however, that the occurrence or reasonable expectation of the occurrence of any ERISA
Event that could reasonably be expected to result in the imposition of a lien by the PBGC on the assets of any Buyer shall be considered as reasonably expected to result in a Material Adverse Effect. 

(m) Tax Returns and Payments. It has filed all federal income tax returns and all other material tax returns that are
required to be filed by it and has paid all taxes due pursuant to such returns or pursuant to any assessment received by it, except (i) for any such taxes or assessments, if any, that are being appropriately contested in good faith by
appropriate proceedings and with respect to which adequate reserves in conformity with GAAP have been provided, or (ii) to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse Effect. No tax lien
has been filed, and, to the actual knowledge of the Servicer, no claim is being asserted, with respect to any such tax or assessment. 

(n) No Event of Termination. No event has occurred and is continuing and or would result from the sale, transfer and
assignment or contribution of the Receivables originated by such Originator, that constitutes or may reasonably be expected to constitute an Event of Termination, Unmatured Event of Termination, Collection Control Event or Non-Reinvestment Event.

 (o) No Sanctions. It is not a Sanctioned Person. To its knowledge after due inquiry, no Obligor was a Sanctioned
Person at the time of such Originator’s origination of any Receivable owing by such Obligor. It and its Affiliates: (i) have less than 15% of their assets in Sanctioned Countries; and (ii) derive less than 15% of their operating
income from investments in, or transactions with Sanctioned Persons or Sanctioned Countries. Neither it nor any of its Subsidiaries engages in activities related to Sanctioned Countries except for such activities as are (A) specifically or
generally licensed by OFAC, or (B) otherwise in compliance with OFAC’s sanctions regulations. 
 (p) Eligible
Receivables. Each Receivable listed as an Eligible Receivable in any Information Package or included as an Eligible Receivable in the calculation of Net Portfolio Balance for any Receivable Pool on any date is an Eligible Receivable as of the
effective date of the information reported in such Information Package or as of the date of such calculation, as the case may be. 

  
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 ARTICLE V 

GENERAL COVENANTS 

SECTION 5.1 Mutual Covenants. At all times prior to the Final Payout Date, each Buyer and each Originator shall: 

(a) Compliance with Laws, Etc. Comply with all applicable Laws, its Receivables and the related Contracts, except where
the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 

(b) Preservation of Existence. Except as expressly permitted by Section 5.4(e) with respect to the
Originators, preserve and maintain its existence, rights, franchises and privileges in the jurisdiction of its organization, and qualify and remain qualified in good standing in each jurisdiction where the failure to qualify or preserve and maintain
such existence, rights, franchises, privileges and qualification could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(c) Separateness. Not take any actions inconsistent with the terms of Section 7.8 of the Receivables
Purchase Agreement or any Buyer’s limited liability company agreement. 
 SECTION 5.2 Additional Covenants of the
Originators. At all times prior to the Final Payout Date, each Originator shall: 
 (a) Inspections. (i) From
time to time, upon reasonable prior notice, upon the reasonable request by any Administrative Agent and during regular business hours permit its Related Buyer, the Collateral Agent, any Administrative Agent and the Purchaser Agents, or any of their
respective agents or representatives to visit and inspect its properties, to examine and make copies of and abstracts from all Records and to discuss its affairs, finances and condition with its officers and independent accountants with respect to
the Pooled Receivables and the Related Assets, all at such reasonable times and as often as reasonably requested; provided that, information relating to specific Receivables shall be limited to the Sprint Information and, during the
continuance of an Event of Termination or Non-Reinvestment Event, such other information (including Subscriber Confidential Information) that the Collateral Agent or any Administrative Agent determines in good faith is necessary or desirable to
exercise or enforce the Collateral Agent’s, the Administrative Agents’, the Purchasers’ or the Purchaser Agents’ rights and remedies hereunder and in such Receivables; provided further that, unless an Event of Termination,
Non-Reinvestment Event, Collection Control Event or Unmatured Event of Termination has occurred and is continuing at the time of such audit/inspection, (i) such Originator shall only be 

  
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required to reimburse reasonable documented out-of-pocket costs and expenses related to one such inspection during any 12-month period, which inspection shall be requested and scheduled by the
Administrative Agents acting together and (ii) the Collateral Agent, the Administrative Agents and the Purchaser Agents shall use commercially reasonable efforts to coordinate any such inspection to minimize disruptions to the Originators and
avoid duplication of Originator’s actions required to comply with such inspection. 
 (b) Keeping of Records and
Books of Account; Delivery. Maintain and implement, or cause to be maintained and implemented, administrative and operating procedures (including an ability to recreate records evidencing the Receivables and Related Assets in the event of the
destruction of the originals thereof, backing up on at least a daily basis on a separate backup computer from which electronic file copies can be readily produced and distributed to third parties being agreed to suffice for this purpose), and keep
and maintain, or cause to be kept and maintained (or transferred to Servicer), all documents, books, records and other information necessary or advisable for (i) the collection of all Receivables and Related Assets (including records adequate
to permit the daily identification of each new Receivable and all Collections of and adjustments to each existing Receivable received, made or otherwise processed on that day), and (ii) the identification of the portion of the Collections
received from each Obligor that represent Collections of an ISC Receivable from such Obligor and Collections of an SCC Receivable from such Obligor. 

(c) Performance and Compliance with Receivables and Contracts. At its expense, timely and fully perform and comply in
all material respects with all provisions, covenants and other promises required to be observed by it under the Contracts and the Receivables. No Buyer shall assume any obligation or liability with respect to any Receivables or Related Assets, nor
shall any Buyer be obligated to perform any of the obligations of the Originators thereunder. 
 (d) Location of
Records. Keep its chief executive office and principal place of business, and the offices where it keeps its Records (and any original documents relating thereto), at the address of such Originator referred to in Annex 1 or, upon thirty
(30) days’ prior written notice to the Collateral Agent, each Administrative Agent, at such other locations in jurisdictions where all action required by Section 8.5 of the Receivables Purchase Agreement shall have been taken
and completed. 
 (e) Credit and Collection Policies. Until such Receivable is sold or contributed to its Related
Buyer, comply in all material respects with its Credit and Collection Policy in regard to each Receivable and the Related Assets and not agree to any material changes thereto except as expressly permitted hereunder and under the Receivables Purchase
Agreement. 
 (f) Collections. Except as otherwise permitted under Section 5.5 of this Agreement, instruct
all Obligors to cause all Collections of Receivables and the Related Assets to be deposited directly in a Lock-Box Account covered by a Lock-Box Agreement. In the event such Originator or any of its Affiliates receives any

  
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Collections such Person will promptly (but not later than three (3) Business Days following receipt) deposit such Collections in a Lock-Box Account covered by a Lock-Box Agreement, except to
the extent Servicer is permitted to commingle such Collections with its own funds pursuant to Section 1.3(a)(i) of the Receivables Purchase Agreement. The Originators shall cooperate with the Buyers and the Servicer in collecting amounts
due from Obligors in respect of the Receivables. Each Originator hereby grants to the Buyers and the Servicer an irrevocable power of attorney, with full power of substitution, coupled with an interest, to take or cause to be taken in the name of
such Originator all steps necessary or advisable to endorse, negotiate or otherwise realize on any Collections and any checks, instruments or other proceeds of the Receivables held or transmitted by such Originator or transmitted or received by such
Buyer (whether or not from such Originator) in connection with any Receivable transferred by it hereunder. 
 (g) Agreed
Upon Procedures. Cooperate reasonably with Servicer and the designated accountants for each annual agreed upon procedures report required pursuant to Section 7.5(f) of the Receivables Purchase Agreement. 

(h) Frequency of Billing. Prepare and deliver (or cause to be prepared and delivered) invoices with respect to all SCC
Receivables no less frequently than as required under the Contract related to such Receivable. 
 (i) Location. Each
Originator shall at all times maintain its jurisdiction of organization and its chief executive office within a jurisdiction in the United States in which Article Nine of the UCC (2001 or later revision) is in effect. 

(j) Tax Matters. Each Originator shall pay all applicable taxes required to be paid by it when due and payable in
connection with the transfer of the Receivables and Related Assets, and acknowledges that neither the Collateral Agent, any Administrative Agent nor any Purchaser shall have any responsibility with respect thereto. Each Originator shall pay and
discharge, or cause the payment and discharge of, all federal income taxes (and all other material taxes) when due and payable, except (i) such as may be paid thereafter without penalty, (ii) such as may be contested in good faith by
appropriate proceeding and for which an adequate reserve has been established and is maintained in accordance with GAAP or (iii) where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a
Material Adverse Effect. 
 (k) Credit Risk Retention. (i) at all times own a net economic interest in the Pool
Receivables sold or contributed by such Originator to its Related Buyer hereunder in an amount at least equal to 5% of the Unpaid Balance of such Pool Receivables at such time, in the form of a first loss tranche under paragraph 1(d) of Article 405
of the CRR or in accordance with the Credit Risk Retention Rules, by holding its equity interest in its Related Buyer and/or by retaining its right to receive any deferred portion of the Purchase Price for such Pool Receivables as contemplated by
Section 2.3(c), (ii) not change the manner in which it retains such net economic interest, except to the extent permitted under paragraph 1 of Article 405(1) of the CRR or the Credit Risk

  
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Retention Rules, and (iii) not enter into any credit risk mitigation, short position or any other hedge with respect to such net economic interest, except to the extent permitted under
paragraph 1 of Article 405(1) of the CRR or the Credit Risk Retention Rules. Each Originator shall, at all times prior to the Final Payout Date, provide to the Servicer on a monthly basis, a confirmation from such Originator as to continued
compliance with the agreements stated in the preceding clauses (i), (ii) and (iii). The Originators shall cooperate with each Purchaser (including by providing such information and entering into or delivering such
additional agreements or documents reasonably requested by such Purchaser or its Purchaser Agent) to the extent reasonably necessary to assure such Purchaser that the Originators retain credit risk in the amount and manner required by the CRR and
the Credit Risk Retention Rules and to permit such Purchaser to perform its due diligence and monitoring obligations (if any) under the CRR and the Credit Risk Retention Rules; provided however, that none of the Originators or the
Buyers shall be required to take actions that could cause a change in the accounting or tax treatment of the transactions contemplated by this Agreement. Each Purchaser and each Purchaser Agent is a third party beneficiary of this
Section 5.2(k). 
 SECTION 5.3 Reporting Requirements. From the date hereof until the Final Payout Date, each
Originator will furnish (or cause to be furnished) to the Buyers, the Collateral Agent, each Administrative Agent and each Purchaser Agent each of the following, unless the Collateral Agent, each Administrative Agent and the Required Purchasers
otherwise consent in writing: 
 (a) Financial Statements. (i) Quarterly Financial Statements. Within 45
days after the close of each of the first three fiscal quarters of each fiscal year of Sprint Corporation, Sprint Corporation’s Form 10-Q as filed with the SEC. 

(ii) Annual Financial Statements. Within 75 days after the end of each fiscal year of Sprint Corporation, the audited
consolidated statements of operations, changes in stockholders’ equity and cash flows of Sprint Corporation and its Subsidiaries for such fiscal year, and the related audited consolidated balance sheet for Sprint Corporation and its
Subsidiaries as of the end of such fiscal year, setting forth in each case in comparative form the corresponding figures for the previous fiscal year, all reported on by Deloitte LLP, or other independent public accountants of recognized national
standing (without a “going concern” or like qualification or exception and without any qualification or exception as to the scope of such audit), to the effect that such audited consolidated financial statements present fairly in all
material respects the financial condition and results of operations of Sprint Corporation and its Subsidiaries on a consolidated basis in accordance with GAAP consistently applied. 

(b) Other Information. 

(i) promptly after the same become publicly available, copies of all proxy statements, financial statements and regular or
special reports which Sprint Corporation files with the SEC or with any national securities exchange or distributed generally to its shareholders, as the case may be; 

  
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 (ii) promptly following a request therefor, any documentation or other
information (including with respect to any Originator, any Seller or Sprint Corporation) that any Buyer, the Collateral Agent, any Administrative Agent or any Purchaser reasonably requests in order to comply with its ongoing obligations under the
applicable “know your customer” and anti money laundering rules and regulations, including the USA PATRIOT Act; and 

(iii) from time to time such further information regarding the business, affairs and financial condition of Sprint Spectrum,
Sprint Corporation and Originators as any Buyer, the Collateral Agent, or any Administrative Agent shall reasonably request; provided that, information relating to specific Receivables shall be limited to the Sprint Information and, during
the continuance of an Event of Termination or Non-Reinvestment Event, such other information (including Subscriber Confidential Information) that the Collateral Agent or any Administrative Agent determines in good faith is necessary or desirable to
exercise or enforce its, the Purchasers’ and the Purchaser Agents’ rights and remedies hereunder and in such Receivables. 

Documents and information required to be delivered pursuant to this Section 5.3 (to the extent any such documents are included in
materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date on which Sprint Corporation posts such documents, or provides a link thereto, on its website or another
relevant website, if any, to which the applicable party has access (whether a commercial, third-party website or whether sponsored by such party). Notwithstanding anything contained herein, in every instance Sprint Spectrum shall be required to
provide documents, information, and certificates required by or requested pursuant to Sections 5.3(b)(ii) and 5.3(b)(iii) to the Collateral Agent and each Administrative Agent. 

(c) ERISA. Written notice 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 Sprint Corporation, Sprint Spectrum, the Servicer, any Originator, or any of their respective ERISA Affiliates, in an aggregate amount exceeding $200,000,000. 

(d) Events of Termination, Etc. Notice of the occurrence of any Event of Termination, Unmatured Event of Termination,
Collection Control Event, Non-Reinvestment Event, Amdocs Performance Event or Amdocs Event not later than two (2) Business Days after such event occurs. 

(e) Litigation. As soon as possible, and in any event within two (2) Business Days of actual knowledge of any
Responsible Officer thereof, notice of any material litigation, investigation or proceeding initiated against any Buyer which has had or could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

  
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 (f) Credit and Collection Policy. At least thirty (30) days prior to
(i) the effectiveness of any material change in or material amendment to such Originator’s Credit and Collection Policy, a description or, if available, a copy of the Credit and Collection Policy then in effect and a written notice
(A) indicating such change or amendment and (B) if such proposed change or amendment could reasonably be expected to adversely affect the value, validity, collectability or enforceability of the Receivables or decrease the credit quality
of any newly created Receivables (in each case, taken as a whole), requesting the Collateral Agent’s, each Administrative Agent’s and each Purchaser Agent’s consent thereto. 

(g) Other Information. Promptly, from time to time, such Records or other information, documents, records or reports
respecting the condition or operations, financial or otherwise, of such Originator as any Buyer, the Collateral Agent, any Administrative Agent or any Purchaser Agent may from time to time reasonably request relating to the Buyers, the transactions
contemplated hereby, the Receivables and the Related Assets in order to protect the interests of the Buyers, the Collateral Agent, the applicable Administrative Agent, any Purchaser Agent or any Purchaser under or as contemplated by this Agreement
or any other Transaction Document or to comply with any Law or any regulatory authority, provided that, information relating to specific Receivables shall be limited to the Sprint Information and, during the continuance of an Event of
Termination or Non-Reinvestment Event, such other information (including Subscriber Confidential Information) that the Collateral Agent or the applicable Administrative Agent determines in good faith is necessary or desirable to exercise or enforce
its, the Purchasers’ and the Purchaser Agents’ rights and remedies hereunder and in such Receivables. 
 SECTION 5.4
Negative Covenants of Each Originator. From the date hereof until the Final Payout Date, each Originator shall not: 

(a) Sales, Adverse Claims, Etc. Except as otherwise explicitly provided herein and in the other Transaction Documents,
sell, assign or otherwise dispose of, or create or suffer to exist any Adverse Claim other than Permitted Adverse Claims, any Adverse Claim arising under any Transaction Document or solely as the result of any action taken by any Purchaser (or any
assignee thereof), any Purchaser Agent, the Collateral Agent or by any Administrative Agent upon or with respect to, (i) any Receivable or Related Asset or any interest therein, or any Lock-Box Account to
which any Collections of any of the foregoing are sent, or any right to receive income or proceeds (other than the purchase price paid to such Originator hereunder or any proceeds of Collections remitted to such Originator hereunder to the extent
such Originator owes no other amounts hereunder) from or in respect of any of the foregoing or, prior to the Final Payout Date, its equity interest in it Related Buyer, if any. 

(b) Extension or Amendment of Receivables. Except as contemplated in Section 8.2(b) of the Receivables
Purchase Agreement, extend, amend or otherwise modify the terms of any Receivable originated by such Originator or amend, modify or waive any term or condition of any related Contract, (including without limitation, in respect of any ISC Contract,
the Designated Installment Payment Term or the terms of 

  
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the Upgrade Program), in each case unless prior to any such extension, amendment or modification, a corresponding Deemed Collection payment in respect of the related Receivable is made in
connection therewith. Make or consent to any change in the Upgrade Program if such proposed change or amendment could reasonably be expected to result in a Material Adverse Effect or permit an Obligor to elect to have a right to trade in its
qualifying wireless communication device in satisfaction of such ISC Receivable after the date that such Obligor entered into an ISC Contract, in each case without the prior written consent of the Collateral Agent, each Administrative Agent and each
Purchaser Agent, unless a corresponding Deemed Collection payment in respect of the related ISC Receivable has been made in connection therewith. 

(c) Change in Credit and Collection Policy or Business. (i) Make or consent to any change in the Credit and
Collection Policies if such proposed change or amendment could be reasonably be expected to adversely affect the value, validity, collectability or enforceability of, the Receivables or decrease the credit quality of any newly created Receivables
(in each case, taken as a whole) or (ii) make a change in the character of its business that would have or could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, in either case, without the prior
written consent of its Related Buyer, the Collateral Agent, each Administrative Agent and each Purchaser Agent. 
 (d)
Change in Lock-Boxes. (i) Add any bank or lock-box account not listed on Schedule 6.1(m) of the Receivables Purchase Agreement as a Lock-Box Bank or Lock-Box Account unless the Collateral Agent and each Administrative Agent shall
have previously approved and received duly executed copies of all Lock-Box Agreements and/or amendments thereto covering each such new bank and lock-box account, (ii) terminate any Lock-Box Bank, Lock-Box Agreement or related Lock-Box Account
without the prior written consent of the Collateral Agent and each Administrative Agent and, in each case, only if all of the payments from Obligors that were being sent to such Lock-Box Bank will, upon termination of such Lock-Box Bank and at all
times thereafter, be deposited in a Lock-Box Account with another Lock-Box Bank covered by a Lock-Box Agreement and (iii) amend, supplement or otherwise modify any Lock-Box Agreement without the prior written consent of the Collateral Agent and
each Administrative Agent. 
 (e) Mergers, Sales, Etc. Consolidate or merge with or into any other Person or sell,
lease or transfer all or substantially all of its property and assets, or agree to do any of the foregoing, unless (i) no Event of Termination, Unmatured Event of Termination, Collection Control Event or Non-Reinvestment Event has occurred and
is continuing or would result immediately after giving effect thereto, (ii) if such Originator is not the surviving entity or if such Originator sells, leases or transfers all or substantially all of its property and assets, the surviving
entity or the Person purchasing or being leased the assets is a Subsidiary of Sprint Corporation and agrees to be bound by the terms and provisions applicable to such Originator hereunder, (iii) no Change of Control shall result,
(iv) Sprint Corporation reaffirms in a writing, in form and substance reasonably satisfactory to the Collateral Agent and each Administrative Agent, that its obligations under the Performance Support Agreement shall apply to the surviving
entity and (v) the Collateral Agent and each Administrative Agent receives such additional certifications and opinions of counsel as it shall reasonably request. 

  
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 (f) Deposits to Accounts. Deposit or otherwise credit, or cause or permit
to be so deposited or credited, or direct any Obligor to deposit or remit, any Collection or proceeds thereof to any account (or related lock–box, if applicable) not covered by a Lock-Box Agreement (including any organizational or operational
account of any Originator or any of its Affiliates) except in accordance with Section 5.5. 
 (g) Change in
Organization, Etc. Change its jurisdiction of organization or its name, identity or corporate organization structure or make any other change such that any financing statement filed or other action taken to perfect its Related Buyer’s or
the Collateral Agent’s interests hereunder and under the Receivables Purchase Agreement, as applicable, would become seriously misleading or would otherwise be rendered ineffective, unless such Originator shall have given its Related Buyer, the
Collateral Agent and each Administrative Agent not less than 30 days’ prior written notice of such change and shall have cured such circumstances. 

(h) Actions Impairing Quality of Title. Take any action that could reasonably be expected to cause any Receivable,
together with the Related Assets, not to be owned by it free and clear of any Adverse Claim (other than any Permitted Adverse Claim or any Adverse Claim arising under any Transaction Document or solely as the result of any action taken by any
Purchaser (or any assignee thereof), any Purchaser Agent, the Collateral Agent or by any Administrative Agent); or take any action that could cause the Collateral Agent not to have a valid ownership free of any Adverse Claim or first priority
perfected security interest in the Asset Portfolio and all products and proceeds of the foregoing, free and clear of any Adverse Claim (other than any Permitted Adverse Claim or Adverse Claim arising under any Transaction Document); or suffer the
existence of any valid effective financing statement or other instrument similar in effect covering any Receivable or any Related Asset on file in any recording office except such as may be filed (i) in favor of any Originator or Seller in
accordance with the Contracts or any Transaction Document or (ii) in favor of a Purchaser, the Collateral Agent or the applicable Administrative Agent in accordance with this Agreement or any Transaction Document or take any action that could
cause the Collateral Agent not to have a valid first priority perfected security interest in each Lock-Box Account listed on Schedule 6.1(m) or for which the Collateral Agent and each Administrative Agent has been notified in accordance with
Section 7.3(d) and all amounts or instruments on deposit or credited therein from time to time (other than Permitted Adverse Claims). No Originator shall encumber, pledge, assign or otherwise transfer, or create or suffer to create a
Lien upon, or otherwise finance any other receivable or amount billed on, or otherwise reflected on, the same invoice as a Receivable. 

SECTION 5.5 Collections Outside the Lockbox Accounts. Notwithstanding anything herein or in any other Transaction Document to
the contrary, each Originator and the Servicer shall be permitted to instruct Obligors to cause Collections with respect to Pool Receivables to an account that is not a Lock-Box Account covered by a Lock-Box Agreement

  
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and deposit such Collections in an account that is not a Lock-Box Account covered by a Lock-Box Agreement; provided, that the aggregate Unpaid Balance of all Eligible Receivables that are Non
Lock-Box Receivables does not exceed 8.00% of the aggregate Unpaid Balance of all Eligible Receivables at any time. 
 SECTION 5.6
Excluded Originator. The Servicer may designate any Originator as an “Excluded Originator” following any Unmatured Event of Termination or Event of Termination, but not later than the third Business Day following any
Event of Termination, that has occurred and results solely from an event or circumstance affecting such Originator by written notice to the Collateral Agent and each Administrative Agent, specifying the effective date of such designation (the
“Exclusion Effective Date” for such Excluded Originator) if all of the following conditions are then satisfied: 

(a) such Unmatured Event of Termination or Event of Termination, as the case may be, would not have occurred if such Originator
had not been a party to this Agreement as an Originator at the time it occurred; 
 (b) no other Unmatured Event or
Termination, Event of Termination, Collection Control Event or Non-Reinvestment Event has occurred and is continuing or would occur as a result of such designation; 

(c) (i) the Servicer shall have prepared and forwarded to the Collateral Agent and each Administrative Agent a pro forma
Information Package for the immediately preceding Reporting Date, which pro forma Information Package shall be prepared excluding the Receivables relating to such Originator from the Pool Receivables relating to each Receivable Pool and the
Net Portfolio Balance relating to each Receivable Pool for all purposes, and (ii) such pro forma Information Package does not report any Unmatured Event of Termination, Event of Termination, Collection Control Event or Non-Reinvestment
Event on a pro forma basis (giving effect to any reduction of the Purchaser Group Investments to occur concurrently with such designation); 

(d) the aggregate Unpaid Balance of Receivables relating to each Receivable Pool originated by such Originator reflected in the
most recently delivered Information Package, (i) when added to the aggregate Unpaid Balance of Receivables that were excluded from the Net Portfolio Balance in respect of both Receivable Pools by the designation of any other Excluded
Originators pursuant to this Section 5.6 during the 12 most recently completed calendar months (measured at the time of their respective Exclusion Effective Dates), is less than 1.00% of the average monthly aggregate Unpaid Balance of
the Pool Receivables in respect of both Receivable Pools during the 12 most recently completed calendar months, and (ii) when added to the aggregate Unpaid Balance of Receivables that were excluded from the Net Portfolio Balance in respect of
both Receivable Pools by the designation of any other Excluded Originators pursuant to this Section 5.6 at any time (measured at the time of their respective Exclusion Effective Dates), is less than 3.00% of the average monthly aggregate
Outstanding Balance of all Receivables during the 12 most recently completed calendar months ; and 

  
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 (e) on its Exclusion Effective Date, (x) such Excluded Originator ceases to
hold any membership or other equity interest in any Buyer and no Change of Control would result therefrom (provided that any such change in ownership in a Buyer shall not be deemed to be a Change of Control), (y) any debts or amounts owing by
the Buyers to such Excluded Originator under this Agreement and otherwise have been paid in full and (z) such Excluded Originator has ceased to be a party to this Agreement in accordance with the terms hereof. 

Any pro forma Information Package provided pursuant to this Agreement or Section 13.18 of the Receivables Purchase Agreement
shall be subject to the representations, warranties and indemnifications contained herein and the other Transaction Documents on the same basis as any other Information Package. The representations, covenants and provisions of this Agreement and the
other Transaction Documents applicable to an Originator shall no longer be applicable to an Excluded Originator after the Exclusion Effective Date for such Excluded Originator. The parties hereto shall work together in good faith to effectuate any
actions as may be appropriate in connection with the designation of an Originator as an Excluded Originator. For the avoidance of doubt, any Receivables originated by an Excluded Originator prior to its related Exclusion Effective Date shall
continue to be owned by the applicable Buyers and constitute Pool Receivables for all purposes, in each case, after such Exclusion Effective Date. 

ARTICLE VI 
 TERMINATION
OF PURCHASES 
 SECTION 6.1 Voluntary Termination. The sale or contribution by any Originator of Receivables and Related
Assets pursuant to this Agreement may be terminated by any party hereto, upon reasonable notice to the other parties hereto, at any time when the Purchasers’ Total Investment is equal to zero. 

SECTION 6.2 Automatic Termination. The sale or contribution by any Originator, as applicable, of Receivables and Related Assets
pursuant to this Agreement shall automatically terminate if an Event of Bankruptcy shall have occurred and remain continuing with respect to such Originator or its Related Buyer. 

ARTICLE VII 

INDEMNIFICATION 

SECTION 7.1 Each Originator’s Indemnity. Without limiting any other rights which any such Person may have hereunder or
under applicable Law, each Originator severally but not jointly, hereby agrees to indemnify and hold harmless Buyers, Buyers’ Affiliates and all of their respective successors, transferees, participants and assigns, all Persons referred to in
Section 8.4 hereof, and all officers, members, managers, directors, shareholders, employees and agents of any of the foregoing (each an “Originator Indemnified Party”), forthwith on demand, from and against any and all
damages, losses, claims, liabilities and related costs and expenses, including reasonable and documented attorneys’ fees and disbursements but excluding Taxes 

  
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(except to the extent provided in clauses (viii) and (ix) below, and provided that no Originator Indemnified Party shall recover more than once for any Tax imposed from
any indemnitor under the Transaction Documents) (all of the foregoing being collectively referred to as “Originator Indemnified Amounts”) awarded against or incurred by any of them arising out of the ownership, maintenance or
purchasing of the Receivables or in respect of or related to any Receivable or Related Assets or arising out of or relating to or resulting from the actions or inactions of the Originators or any Affiliate of any of them; provided,
however, notwithstanding anything to the contrary in this Article VII, Originator Indemnified Amounts shall be excluded solely to the extent (x) resulting from the gross negligence or willful misconduct on the part of such
Originator Indemnified Party as determined by a final non-appealable judgment by a court of competent jurisdiction, (y) resulting from a claim brought by any Originator against an Originator Indemnified Party for breach of such Originator
Indemnified Party’s obligations under any Transaction Document as determined by a final non-appealable judgment by a court of competent jurisdiction or (z) they constitute recourse with respect to a Pool Receivable and the Related Assets
by reason of bankruptcy or insolvency, or the financial or credit condition or financial default, of the related Obligor. Without limiting the foregoing, each Originator shall indemnify, subject to the limits set forth in this
Section 7.1, and hold harmless each Originator Indemnified Party for any and all Originator Indemnified Amounts arising out of, relating to or resulting from: 

(i) the transfer by any Originator of any interest in any Receivable other than the sale or contribution, as applicable, of any
Receivable and Related Assets to any Buyer pursuant to this Agreement and the grant of a security interest to any Buyer pursuant to this Agreement; 

(ii) any representation or warranty made by any Originator under or in connection with any Transaction Document, any
Information Package or any other information or report delivered by or on behalf of any Originator pursuant hereto, which shall have been untrue, false or incorrect when made or deemed made; 

(iii) the failure of any Originator to comply with the terms of any Transaction Document or any applicable Law (including with
respect to any Receivable or the Related Assets), or the nonconformity of any Receivable or Related Assets with any such Law; 

(iv) the lack of an enforceable ownership interest or a first priority perfected security interest in the Receivables (and all
Related Assets) transferred, or purported to be transferred, to any Buyer pursuant to this Agreement against all Persons (including any bankruptcy trustee or similar Person); 

(v) the failure to file, or any delay in filing of, financing statements or other similar instruments or documents under the
UCC of any applicable jurisdiction or other applicable Laws with respect to any Receivable transferred by any Originator, or purported to be transferred by any Originator, to any Buyer pursuant to this Agreement whether at the time of any purchase
or acquisition, as applicable, or at any time thereafter; 

  
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 (vi) any suit or claim related to the Receivables transferred, or purported to be
transferred, to any Buyer pursuant to this Agreement (including any products liability or environmental liability claim arising out of or in connection with merchandise or services that are the subject of any such Receivable); 

(vii) failure by any Originator to comply with the “bulk sales” or analogous Laws of any jurisdiction; 

(viii) any Taxes (other than Excluded Taxes) imposed upon any Originator Indemnified Party or upon or with respect to the
Receivables transferred, or purported to be transferred, to any Buyer pursuant to this Agreement and all reasonable costs and expenses related thereto or arising therefrom, which such Taxes or such amounts relating thereto arise by reason of the
purchase or ownership, contribution or sale of such Receivables (or of any interest therein) or Related Assets or any goods which secure any such Receivables or Related Asset; 

(ix) any loss arising, directly or indirectly, as a result of the imposition of sales or analogous Taxes or the failure by any
Originator or the Servicer to timely collect and remit to the appropriate authority any such Taxes (to the extent not duplicative of clause (viii) above); 

(x) any commingling by any Originator or the Servicer of any funds relating to the Receivables with any of its own funds or the
funds of any other Person; 
 (xi) the failure or delay to provide any Obligor with an invoice or other evidence of
indebtedness; or 
 (xii) any inability of any Originator or any Buyer to assign any Receivable or other Related Asset as
contemplated under the Transaction Documents; or the violation or breach by any Originator of any confidentiality provision, or of any similar covenant of non-disclosure, with respect to any Contract, or any
other Indemnified Amount with respect to or resulting from any such violation or breach. 
 SECTION 7.2 Contribution. If for
any reason the indemnification provided above in this Article VII is unavailable to an Originator Indemnified Party or is insufficient to hold an Originator Indemnified Party harmless, then each Originator shall contribute to the amount paid
or payable by such Originator Indemnified Party as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect not only the relative benefits received by such Originator Indemnified Party on the one hand and
such Originator on the other hand but also the relative fault of such Originator Indemnified Party as well as any other relevant equitable considerations. 

  
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 ARTICLE VIII 

MISCELLANEOUS 
 SECTION
8.1 Amendments, etc. No amendment or waiver of any provision of this Agreement or consent to any departure by any Originator therefrom shall in any event be effective unless the same shall be in writing and signed by the Buyers, the
Collateral Agent, the Administrative Agents, the Required Purchasers and (if an amendment) the Originators, and if such amendment or waiver affects the obligations of Sprint Corporation, Sprint Corporation consents in writing thereto, and then any
such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given. Each Originator may not amend or otherwise modify any other Transaction Document executed by it without the written consent of the
Buyers, the Collateral Agent, the Administrative Agents and the Required Purchasers, and if such amendment or waiver affects the obligations of Sprint Corporation, Sprint Corporation consents in writing thereto. 

SECTION 8.2 No Waiver; Remedies. No failure on the part of any Buyer or any Originator Indemnified Party to exercise, and no
delay in exercising, any right, power or remedy hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, power or remedy hereunder preclude any other or further exercise thereof or the exercise of any other
right, power or remedy. The rights and remedies herein provided are cumulative and not exclusive of any rights or remedies provided by Law. Each Originator hereby consents to and agrees to be bound by the specific remedies provisions of
Section 9.2 of the Receivables Purchase Agreement as if they were set forth herein mutatis mutandis. Without limiting the foregoing, each Purchaser, each Purchaser Agent, BTMUNY, individually and as the SCC Administrative Agent, Mizuho,
individually and as Collateral Agent and ISC Administrative Agent, each Liquidity Provider, each Affected Party, and any of their Affiliates (each a “Set-off Party”) are each hereby authorized at any time during the continuance of
an Event of Termination, Collection Control Event or Non-Reinvestment Event (in addition to any other rights it may have) to setoff, appropriate and apply (without presentment, demand, protest or other notice which are hereby expressly waived any
deposits and any other indebtedness held or owing by such Set-off Party (including by any branches or agencies of such Set-off Party) to, or for the account of the parties hereto amounts owing by such party hereunder (even if contingent and
unmatured). 
 SECTION 8.3 Notices, Etc. All notices and other communications provided for hereunder shall, unless otherwise
stated herein, be in writing (including facsimile communication) and shall be personally delivered or sent by express mail or courier or by certified mail, first class postage prepaid or by facsimile, to the intended party at the address, facsimile
number or email address of such party set forth in Annex 2 or at such other address or facsimile number as shall be designated by such party in a written notice to the other parties hereto. All such notices and communications shall be effective,
(a) if personally delivered or sent by express mail or courier or if sent by certified mail, when received, and (b) if transmitted by facsimile, when receipt is confirmed by telephone. 

SECTION 8.4 Binding Effect; Assignment. Each Originator acknowledges that institutions providing financing (by way of loans or
purchases of Receivables or interests 

  
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therein) pursuant to the Receivables Purchase Agreement may rely upon the terms of this Agreement. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns and shall also, to the extent provided herein, inure to the benefit of the parties to the Receivables Purchase Agreement. Each Originator acknowledges that Buyers’ rights under this Agreement may be assigned to
Mizuho, BTMUNY or another Purchaser or Purchaser Agent under the Receivables Purchase Agreement, consents to such assignment and to the exercise of those rights directly by Mizuho, BTMUNY another Purchaser or Purchaser Agent to the extent permitted
by the Receivables Purchase Agreement and acknowledges and agrees that both Mizuho and BTMUNY, individually and as agent, a Committed Purchaser, a Conduit Purchaser and the other Affected Parties and each of their respective successors and assigns
are express third party beneficiaries of this Agreement. 
 SECTION 8.5 Survival . The rights and remedies with respect to any
breach of any representation and warranty made by any Originator or any Buyer pursuant to Section 3.2, Article IV the indemnification provisions of Article VII, the provisions of Sections 8.4, 8.5, 8.6,
8.8, 8.9, 8.10, 8.11, 8.12 and 8.14 shall survive any termination of this Agreement. 
 SECTION
8.6 Costs and Expenses. In addition to its obligations under Article VII, each Originator agrees to pay on demand all reasonable and documented out-of-pocket costs and expenses incurred by Buyers and any other Originator
Indemnified Party in connection with: 
 (a) the negotiation, preparation, execution and delivery of this Agreement and any
amendment of or consent or waiver under this Agreement (whether or not consummated), or the enforcement of, or any actual or reasonably claimed breach of, this Agreement, including reasonable and documented accountants’, auditors’,
consultants’ and attorneys’ fees and expenses to any of such Persons and the fees and charges of any nationally recognized statistical rating agency or any independent accountants, auditors, consultants or other agents incurred in
connection with any of the foregoing or in advising such Persons as to their respective rights and remedies under this Agreement in connection with any of the foregoing; and 

(b) the administration (including periodic auditing as provided for herein) of this Agreement and the transactions contemplated
thereby, including all reasonable and documented expenses and accountants’, consultants’ and attorneys’ fees incurred in connection with the administration and maintenance of this Agreement and the transactions contemplated thereby.

 SECTION 8.7 Execution in Counterparts; Integration. This Agreement may be executed in any number of counterparts and by the
different parties in separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same Agreement. Executed counterparts may be delivered electronically.
This Agreement, together with the other Transaction Documents, contains a final and complete integration of all prior expressions by the parties hereto with respect to the subject matter hereof and shall constitute the entire understanding among the
parties hereto with respect to the subject matter hereof, superseding all prior oral or written understandings. 

  
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 SECTION 8.8 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY THE LAWS OF THE
STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, BUT WITHOUT REGARD TO ANY OTHER CONFLICTS OF LAW PROVISIONS THEREOF, EXCEPT TO THE EXTENT THAT THE PERFECTION, EFFECT OF PERFECTION OR PRIORITY OF THE
INTERESTS OF BUYERS IN THE RECEIVABLES OR RELATED ASSETS IS GOVERNED BY THE LAWS OF A JURISDICTION OTHER THAN THE STATE OF NEW YORK). 

SECTION 8.9 Waiver of Jury Trial. EACH ORIGINATOR AND EACH BUYER HEREBY EXPRESSLY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY
ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER THIS AGREEMENT, ANY OTHER TRANSACTION DOCUMENT OR UNDER ANY AMENDMENT, INSTRUMENT OR DOCUMENT DELIVERED OR WHICH MAY IN THE FUTURE BE DELIVERED IN CONNECTION HEREWITH OR ARISING FROM ANY
BANKING OR OTHER RELATIONSHIP EXISTING IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER TRANSACTION DOCUMENT AND AGREES THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT A JURY. 

SECTION 8.10 Consent to Jurisdiction; Waiver of Immunities. EACH ORIGINATOR AND EACH BUYER HEREBY ACKNOWLEDGES AND AGREES THAT:

 (a) IT IRREVOCABLY (i) SUBMITS TO THE JURISDICTION, FIRST, OF ANY UNITED STATES FEDERAL COURT, AND SECOND, IF FEDERAL
JURISDICTION IS NOT AVAILABLE, OF ANY NEW YORK STATE COURT, IN EITHER CASE SITTING IN NEW YORK CITY, NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER TRANSACTION DOCUMENT, (ii) AGREES THAT ALL
CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED ONLY IN SUCH NEW YORK STATE OR FEDERAL COURT AND NOT IN ANY OTHER COURT, AND (iii) WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO, THE DEFENSE OF AN INCONVENIENT
FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING. 
 (b) TO THE EXTENT THAT IT HAS OR HEREAFTER MAY ACQUIRE ANY IMMUNITY
FROM THE JURISDICTION OF ANY COURT OR FROM ANY LEGAL PROCESS (WHETHER THROUGH SERVICE OR NOTICE, ATTACHMENT PRIOR TO JUDGMENT, ATTACHMENT IN AID TO EXECUTION, EXECUTION OR OTHERWISE) WITH RESPECT TO ITSELF OR ITS PROPERTY, IT HEREBY IRREVOCABLY
WAIVES SUCH IMMUNITY IN RESPECT OF ITS OBLIGATIONS UNDER OR IN CONNECTION WITH THIS AGREEMENT. 
 SECTION 8.11
Confidentiality. Each party hereto agrees to comply with, and be bound by, the confidentiality provisions of Section 13.8 of the Receivables Purchase Agreement as if they were set forth herein mutatis mutandis. 

  
 26 

 SECTION 8.12 No Proceedings. Each Originator agrees, for the benefit of the parties
to the Receivables Purchase Agreement, that it will not institute against any Buyer, or join any other Person in instituting against any Buyer, any proceeding of a type referred to in the definition of Event of Bankruptcy from the Closing Date until
one year and one day after no investment, loan or commitment is outstanding under the Receivables Purchase Agreement. In addition, all amounts payable by any Buyer to any Originator pursuant to this Agreement shall be payable solely from funds
available for that purpose (after each Buyer has satisfied all obligations then due and owing under the Receivables Purchase Agreement). 

SECTION 8.13 No Recourse Against Other Parties. No recourse under any obligation, covenant or agreement of any Buyer contained
in this Agreement shall be had against any stockholder, employee, officer, director, member, manager incorporator or organizer of any Buyer. 

SECTION 8.14 Grant of Security Interest. It is the intention of the parties to this Agreement that the conveyance of each
Originator’s right, title and interest in and to the Receivables, the Related Assets and all the proceeds of all of the foregoing to Buyers pursuant to this Agreement shall constitute an absolute and irrevocable purchase and sale or capital
contribution, as applicable, and not a loan or pledge. As a protective measure in the event that, notwithstanding the foregoing, the conveyance of the Receivables and the Related Assets to Buyers is characterized by any third party as a loan or
pledge, each Originator does hereby grant, to Buyers a security interest to secure such Originator’s obligations hereunder in all of such Originator’s now or hereafter existing right, title and interest in, to and under the Receivables,
the Lock-Box Accounts (to the extent of the Receivables, the Related Assets and the proceeds of the foregoing) and the Related Assets and that this Agreement shall constitute a security agreement under applicable law. 

SECTION 8.15 Severability. Any provisions of this Agreement which are prohibited or unenforceable in any jurisdiction shall, as
to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. 
 SECTION 8.16 Restatement; No Novation. Effective as of the
Restatement Effective Date, the Receivables Sale Agreement dated as of May 16, 2014 (the “Original RSA”) among the parties to this Agreement is amended and restated as set forth in this Agreement. It is the intent of the
parties hereto that this Agreement (i) shall re-evidence the obligations and other indebtedness under the Original RSA, (ii) is entered into in substitution for, and not in payment of, the obligations and other indebtedness under the
Original RSA, and (iii) is in no way intended to constitute a novation of any of the obligations or other indebtedness which was evidenced by the Original RSA. 

[SIGNATURE PAGES FOLLOW] 

  
 27 

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

			
	SPRINT SPECTRUM L.P.
	as Servicer
		
	By:		     /s/ Joseph J. Euteneuer

	Name:		Joseph J. Euteneuer
	Title:		Treasurer

  
 28 

 
					
	SPRINT SPECTRUM L.P.
	SPRINTCOM, INC.
	NORTHERN PCS SERVICES, LLC
	SPRINT TELEPHONY PCS, L.P.
	AMERICAN PCS COMMUNICATIONS, LLC
	PHILLIECO, L.P.
	TEXAS TELECOMMUNICATIONS, LP
	ALAMOSA WISCONSIN LIMITED PARTNERSHIP
	AIRGATE PCS, INC.
	UBIQUITEL OPERATING COMPANY
	LOUISIANA UNWIRED, LLC
	GEORGIA PCS MANAGEMENT, L.L.C.
	TEXAS UNWIRED
	INDEPENDENT WIRELESS ONE CORPORATION
	SOUTHWEST PCS, L.P.
	ALAMOSA MISSOURI, LLC
	WASHINGTON OREGON WIRELESS, LLC
	IPCS WIRELESS, INC.
	 GULF COAST WIRELESS LIMITED

            PARTNERSHIP

	HORIZON PERSONAL COMMUNICATIONS, INC.
	 BRIGHT PERSONAL COMMUNICATIONS

            SERVICES, LLC, each as Originator

			
			By:		     /s/ Joseph J. Euteneuer

			Name:		Joseph J. Euteneuer
			Title:		Treasurer

  
 29 

 
					
	ENTERPRISE COMMUNICATIONS PARTNERSHIP
	as Originator
		
	    By:		SprintCom ECP I, L.L.C.,
	    its General Partner
			
			By:		     /s/ Joseph J. Euteneuer

			Name:		Joseph J. Euteneuer
			Title:		Treasurer
		
	    By:		SprintCom ECP II, L.L.C.,
	    its General Partner
			
			By:		     /s/ Joseph J. Euteneuer

			Name:		Joseph J. Euteneuer
			Title:		Treasurer

  
 30 

 
			
	SFE 1, LLC
	SFE 2, LLC
	SFE 3, LLC
	SFE 4, LLC
	SFE 5, LLC
	SFE 6, LLC
	SFE 7, LLC
	SFE 8, LLC
	SFE 9, LLC
	SFE 10, LLC
	SFE 11, LLC
	SFE 12, LLC
	SFE 13, LLC
	SFE 14, LLC
	SFE 15, LLC, each as a Buyer
		
	By:		     /s/ Joseph J. Euteneuer

	Name:		Joseph J. Euteneuer
	Title:		Treasurer

  
 31

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