Document:

EX-10.3

 Exhibit 10.3 

SECURITY AGREEMENT 
 dated as of

 November 21, 2017 

among 
 THE GRANTORS IDENTIFIED
HEREIN 
 and 
 GOLDMAN SACHS
BANK USA 
 as Collateral Agent 

							
	 ARTICLE I
	  			
	 Definitions
	  			
			
	 SECTION 1.01
	 	Credit Agreement	  	 	1	 
	 SECTION 1.02
	 	Other Defined Terms	  	 	1	 
		
	 ARTICLE II
	  			
	 Pledge of Securities
	  			
			
	 SECTION 2.01
	 	Pledge	  	 	4	 
	 SECTION 2.02
	 	Delivery of the Pledged Securities	  	 	5	 
	 SECTION 2.03
	 	Representations, Warranties and Covenants	  	 	5	 
	 SECTION 2.04
	 	Article 8 Opt-In	  	 	7	 
	 SECTION 2.05
	 	Registration in Nominee Name; Denominations	  	 	7	 
	 SECTION 2.06
	 	Voting Rights; Dividends and Interest	  	 	8	 
		
	 ARTICLE III
	  			
	 Security Interests in Personal Property
	  			
			
	 SECTION 3.01
	 	Security Interest	  	 	10	 
	 SECTION 3.02
	 	Representations and Warranties	  	 	12	 
	 SECTION 3.03
	 	Covenants	  	 	13	 
		
	 ARTICLE IV
	  			
	 Remedies
	  			
			
	 SECTION 4.01
	 	Remedies Upon Default	  	 	15	 
	 SECTION 4.02
	 	Application of Proceeds	  	 	16	 
	 SECTION 4.03
	 	Grant of License to Use Intellectual Property	  	 	17	 
		
	 ARTICLE V
	  			
	 Subordination
	  			
			
	 SECTION 5.01
	 	Subordination	  	 	18	 
		
	 ARTICLE VI
	  			
	 Miscellaneous
	  			
			
	 SECTION 6.01
	 	Notices	  	 	18	 
	 SECTION 6.02
	 	Waivers; Amendment	  	 	18	 
	 SECTION 6.03
	 	Collateral Agent’s Fees and Expenses; Indemnification	  	 	19	 
	 SECTION 6.04
	 	Successors and Assigns	  	 	19	 
	 SECTION 6.05
	 	Survival of Agreement	  	 	19	 
	 SECTION 6.06
	 	Counterparts; Effectiveness; Several Agreement	  	 	19	 
	 SECTION 6.07
	 	Severability	  	 	20	 
	 SECTION 6.08
	 	Governing Law; Jurisdiction; Venue; Waiver of Jury Trial; Consent to Service of Process	  	 	20	 

  

  
 -i- 

							
	 SECTION 6.09
	 	Headings	  	 	20	 
	 SECTION 6.10
	 	Security Interest Absolute	  	 	20	 
	 SECTION 6.11
	 	Termination, Release or Subordination.	  	 	20	 
	 SECTION 6.12
	 	Additional Grantors	  	 	21	 
	 SECTION 6.13
	 	Collateral Agent Appointed Attorney-in-Fact	  	 	21	 
	 SECTION 6.14
	 	General Authority of the Collateral Agent	  	 	22	 
	 SECTION 6.15
	 	Reasonable Care	  	 	22	 
	 SECTION 6.16
	 	Delegation; Limitation	  	 	22	 
	 SECTION 6.17
	 	Reinstatement	  	 	23	 
	 SECTION 6.18
	 	Intercreditor Agreement	  	 	23	 
	 SECTION 6.19
	 	Miscellaneous	  	 	23	 

 Schedules 
  

			
	Schedule I	  	 Subsidiary Parties

	Schedule II	  	 Pledged Equity and Pledged Debt

 Exhibits 
  

			
	Exhibit I	  	 Form of Security Agreement Supplement

	Exhibit II	  	 Form of Perfection Certificate

	Exhibit III	  	 Form of Patent Security Agreement

	Exhibit IV	  	 Form of Trademark Security Agreement

	Exhibit V	  	 Form of Copyright Security Agreement

  
 -ii- 

 This SECURITY AGREEMENT, dated as of November 21, 2017 (as amended, restated, amended
and restated, supplemented and otherwise modified from time to time, this “Agreement”), is entered into by and among the Grantors (as defined below) and Goldman Sachs Bank USA, as Collateral Agent for the Secured Parties (in such
capacities and together with its successors and permitted assigns in such capacities, the “Collateral Agent”). 
 Reference
is made to the Credit Agreement, dated as of November 21, 2017 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Vail Holdco Sub LLC, a Delaware
limited liability company (“Holdings”), Avantor, Inc., a Delaware corporation (the “Borrower”), the other Guarantors party thereto from time to time, Goldman Sachs Bank USA, as Collateral Agent, Administrative
Agent, Swing Line Lender and an L/C Issuer and each lender from time to time party thereto (collectively, the “Lenders” and, individually, a “Lender”). The Lenders and the L/C Issuers have agreed to extend credit to
the Borrower subject to the terms and conditions set forth in the Credit Agreement. The Grantors may receive, directly or indirectly, a portion of the proceeds of the Loans under the Credit Agreement and will derive substantial direct and indirect
benefit from the transactions contemplated thereby. The obligations of the Lenders and the L/C Issuers to extend such credit are conditioned upon, among other things, the execution and delivery of this Agreement. Holdings and the Subsidiary Parties
(as defined below) (i) are affiliates of the Borrower, (ii) will derive substantial benefit from the extension of credit to the Borrower pursuant to the Credit Agreement and (iii) are willing to execute and deliver this Agreement in
order to induce the Lenders and the L/C Issuers to extend such credit: 
 ARTICLE I 

Definitions 

SECTION 1.01 Credit Agreement. 

(a) Capitalized terms used in this Agreement and not otherwise defined herein have the meanings specified in the Credit Agreement. All terms
defined in the UCC (as defined herein) and not defined in this Agreement or in the Credit Agreement have the meanings specified therein. 

(b) The rules of construction specified in Article I (including Sections 1.02 through Section 1.13) of the
Credit Agreement also apply to this Agreement. 
 SECTION 1.02 Other Defined Terms. As used in this Agreement, the following terms
have the meanings specified below: 
 “Account Debtor” means any Person who is or who may become obligated to any Grantor
under, with respect to or on account of an Account. 
 “Accounts” has the meaning specified in Article 9 of the UCC. 

“Agreement” has the meaning assigned to such term in the preliminary statement of this Agreement. 

“Borrower” has the meaning assigned to such term in the preliminary statements of this Agreement. 

“Collateral Agent” has the meaning assigned to such term in the preliminary statements of this Agreement. 

 “Article 9 Collateral” has the meaning assigned to such term in
Section 3.01(a). 
 “Collateral” means the Article 9 Collateral and the Pledged Collateral. 

“Commercial Tort Claims” has the meaning specified in Article 9 of the UCC. 

“Copyright Licenses” means any written agreement, now or hereafter in effect, granting any right to any third party under any
Copyright now or hereafter owned by any Grantor or that such Grantor otherwise has the right to license, or granting any right to any Grantor under any Copyright now or hereafter owned by any third party, and all rights of such Grantor under any
such agreement. 
 “Copyrights” means all of the following, including those now owned or hereafter owned or acquired by any
Grantor: (a) all copyright rights in any work subject to copyright Laws of the United States or any other country, whether as author, assignee, transferee or otherwise, and (b) all registrations and applications for registration of any
such copyrights, including registrations, recordings, supplemental registrations and pending applications for registration in the USCO. 

“Credit Agreement” has the meaning assigned to such term in the preliminary statement of this Agreement. 

“Grantor” means Holdings, the Borrower, each other Guarantor that is a party hereto, and each Guarantor that becomes a party
to this Agreement after the Closing Date. 
 “Holdings” has the meaning assigned to such term in the preliminary statements
of this Agreement. 
 “Intellectual Property” means all intellectual property of every kind and nature now owned or
hereafter owned or acquired by any Grantor, including Patents, Copyrights, Trademarks, Licenses, trade secrets, the intellectual property rights in software and databases and related documentation and all renewals and extensions, rights to sue or
otherwise recover for infringements or other violations of the foregoing, and all rights corresponding thereto throughout the world. 

“Intellectual Property Security Agreements” means the short-form Patent Security Agreement, short-form Trademark Security
Agreement, and short-form Copyright Security Agreement, each substantially in the form attached hereto as Exhibits III, IV and V, respectively. 

“Lenders” has the meaning assigned to such term in the preliminary statements of this Agreement and, includes an L/C Issuer
and the Swing Line Lender, and their respective successors and assigns as permitted under the Credit Agreement, each of which is referred to herein as a “Lender.” 

“License” means any Patent License, Trademark License, Copyright License or other Intellectual Property license or sublicense
agreement to which any Grantor is a party, together with any and all (i) renewals, extensions, supplements and continuations thereof, (ii) income, fees, royalties, damages, claims and payments now and hereafter due and/or payable
thereunder or with respect thereto including damages and payments for past, present or future infringements or violations thereof, and (iii) rights to sue for past, present and future violations thereof; provided that Licenses shall not
include any Excluded Assets. 
 “Patent License” means any written agreement, now or hereafter in effect, granting to any
third party any right to make, use or sell any invention or design on which a Patent, now or hereafter owned by any Grantor or that any Grantor otherwise has the right to license, is in existence, or granting to any Grantor any right to make, use or
sell any invention or design on which a Patent, now or hereafter owned by any third party, is in existence, and all rights of any Grantor under any such agreement. 

  
 -2- 

 “Patents” means all of the following, including those now owned or
hereafter owned or acquired by any Grantor: (a) all patents, all registrations and recordings thereof, and all applications for patents of the United States, including registrations, recordings and pending applications in the USPTO; and
(b) all reissues, reexaminations, continuations, divisionals, continuations-in-part, renewals, improvements or extensions thereof, and the inventions or designs
disclosed or claimed therein, including the right to make, use and/or sell the inventions or designs disclosed or claimed therein. 

“Perfection Certificate” means a certificate substantially in the form of Exhibit II, completed and supplemented with
the schedules and attachments contemplated thereby, and duly executed by a Responsible Officer of each of the Grantors. 
 “Pledged
Collateral” has the meaning assigned to such term in Section 2.01. 
 “Pledged Debt” has
the meaning assigned to such term in Section 2.01(ii). 
 “Pledged Equity” has the meaning
assigned to such term in Section 2.01(i). 
 “Pledged Securities” means the Pledged Equity and
Pledged Debt. 
 “Proceeds” shall mean all “proceeds” as such term is defined in the UCC. 

“Registered Intellectual Property Collateral” means the Collateral consisting of United States issued Patents, United States
registered Trademarks and United States registered Copyrights together with, in the case of Patents and Trademarks, all pending applications therefor, and all exclusive Copyright Licenses. 

“Securities Account” has the meaning specified in Article 9 of the UCC. 

“Security Agreement Supplement” means an instrument substantially in the form of Exhibit I hereto. 

“Security Interest” has the meaning assigned to such term in Section 3.01(a). 

“Subsidiary Parties” means (a) the Restricted Subsidiaries identified on Schedule I and (b) each other
Restricted Subsidiary that becomes a party to this Agreement as a Subsidiary Party after the Closing Date. 
 “Trademark
License” means any written agreement, now or hereafter in effect, granting to any third party any right to use any Trademark now or hereafter owned by any Grantor or that any Grantor otherwise has the right to license, or granting to any
Grantor any right to use any Trademark now or hereafter owned by any third party, and all rights of any Grantor under any such agreement. 

“Trademarks” means all of the following, including those now owned or hereafter owned or acquired by any Grantor:
(a) all trademarks, service marks, trade names, corporate names, trade dress, logos, designs, fictitious business names and other source or business identifiers and all registrations and applications filed in connection therewith, including
registrations and applications in the USPTO or any similar offices in any State of the United States or any political subdivision thereof or any other country, and all extensions or renewals thereof, as well as any unregistered trademarks and
service marks used by a Grantor; and (b) all goodwill connected with the use of and symbolized thereby; provided that “Trademarks” shall not include any Excluded Assets. 

  
 -3- 

 “UCC” means the Uniform Commercial Code as from time to time in effect in
the State of New York; provided that, if perfection or the effect of perfection or non-perfection or the priority of the security interest in any Collateral is governed by the Uniform Commercial Code as
in effect in a jurisdiction other than the State of New York, “UCC” means the Uniform Commercial Code as in effect from time to time in such other jurisdiction for purposes of the provisions hereof relating to such perfection, effect of
perfection or non-perfection or priority. 
 “USCO” means the United States
Copyright Office. 
 “USPTO” means the United States Patent and Trademark Office. 

ARTICLE II 
 Pledge of
Securities 
 SECTION 2.01 Pledge. Each Grantor, as security for the payment and performance in full of the Secured
Obligations of such Grantor (including, if such Grantor is a Guarantor, the Secured Obligations of such Grantor arising under the Guaranty), hereby pledges to the Collateral Agent, its successors and permitted assigns, for the benefit of the Secured
Parties, and hereby grants to the Collateral Agent, its successors and permitted assigns, for the benefit of the Secured Parties, a security interest in all of such Grantor’s right, title and interest in, to and under any and all of the
following assets and properties now owned or at any time hereafter acquired by such Grantor or in which such Grantor now has or at any time in the future may acquire any right, title or interest: 

(i) all Equity Interests held by it, including without limitation, the Equity Interests which are listed on Schedule II,
and any other Equity Interests obtained in the future by such Grantor and the certificates (if any) representing all such Equity Interests (the “Pledged Equity”); provided that the Pledged Equity shall not include Excluded
Assets; 
 (ii) (A) any Intercompany Note and all indebtedness, debt securities and instruments owned by it, including,
without limitation, the debt securities and instruments having an individual principal amount in excess of $10,000,000 which are listed opposite the name of such Grantor on Schedule II, (B) any indebtedness, debt securities and
instruments (including without limitation, the debt securities and instruments having an individual principal amount in excess of $10,000,000) obtained in the future by such Grantor and (c) the promissory notes and other instruments evidencing
all such debt securities (the “Pledged Debt”); 
 (iii) all other property that may be delivered to and held
by the Collateral Agent pursuant to the terms of this Section 2.01 or Section 2.02; 

(iv) subject to Section 2.06, all payments of principal or interest, dividends, cash, instruments and
other property from time to time received, receivable or otherwise distributed in respect of, in exchange for or upon the conversion of, and all other Proceeds received in respect of, the securities referred to in clauses (i) and
(ii) above; 
 (v) subject to Section 2.06, all rights and privileges of such Grantor with
respect to the securities and other property referred to in clauses (i), (ii), (iii) and (iv) above; and 

  
 -4- 

 (vi) all Proceeds of any of the foregoing (the items referred to in
clauses (i) through (vi) above being collectively referred to as the “Pledged Collateral”); provided, however, that neither “Pledged Collateral” nor any defined term used therein shall
include any Excluded Assets. 
 TO HAVE AND TO HOLD the Pledged Collateral, together with all right, title, interest, powers, privileges and preferences
pertaining or incidental thereto, unto the Collateral Agent, its successors and permitted assigns, for the benefit of the Secured Parties, forever, subject, however, to the terms, covenants and conditions hereinafter set forth. 

SECTION 2.02 Delivery of the Pledged Securities. 

(a) As of the Closing Date, each Grantor has delivered or caused to be delivered to the Collateral Agent, for the benefit of the Secured
Parties, any and all certificates (if any) representing Pledged Equity constituting certificated securities and, to the extent required to be delivered pursuant to Section 2.02(b) below, any and all Pledged Debt evidenced
by a promissory note or other instrument. Each Grantor agrees promptly (and in any event, within ten (10) Business Days after receipt by such Grantor or such longer period as the Collateral Agent may agree) to deliver or cause to be delivered
to the Collateral Agent, for the benefit of the Secured Parties, any and all certificates (if any) representing Pledged Equity acquired after the Closing Date and, to the extent required to be delivered pursuant to
Section 2.02(b) below, any and all Pledged Debt acquired after the Closing Date that is evidenced by a promissory note or other instrument. 

(b) Each Grantor will cause any Pledged Debt owed to such Grantor by any Person that is evidenced by a duly executed promissory note or other
instrument having an individual principal amount in excess of $10,000,000 to be delivered to the Collateral Agent, for the benefit of the Secured Parties, pursuant to the terms hereof. 

(c) Upon delivery to the Collateral Agent, any Pledged Securities shall be accompanied by stock or security powers, endorsements or allonges
duly executed in blank or other instruments of transfer reasonably satisfactory to the Collateral Agent (other than instruments or documents requiring actions in any non-U.S. jurisdiction related to Equity
Interests of Foreign Subsidiaries). Each delivery of Pledged Securities shall be accompanied by a schedule describing the Pledged Securities, which schedule shall be deemed to supplement Schedule II and made a part hereof; provided
that failure to supplement Schedule II shall not affect the validity of such pledge of such Pledged Securities. Each schedule so delivered shall supplement any prior schedules so delivered. 

SECTION 2.03 Representations, Warranties and Covenants. Each Grantor represents, warrants and covenants to and with the Collateral
Agent, for the benefit of the Secured Parties, that: 
 (a) Schedule II sets forth a true and complete list, with respect to each
Grantor, of (i) all the Equity Interests owned by such Grantor in any Subsidiary and the percentage of the issued and outstanding units of each class of the Equity Interests of the issuer thereof represented by the Pledged Equity owned by such
Grantor and (ii) all the Pledged Debt having an individual principal amount in excess of $10,000,000 that is owned by such Grantor; 

(b) to the knowledge of such Grantor (unless such Pledged Equity or Pledged Debt has been issued by Holdings, any Borrower or any Restricted
Subsidiary, in which case this representation and warranty shall not be qualified by knowledge), the Pledged Equity and Pledged Debt listed on Schedule II have been duly and validly authorized and issued by the issuers thereof and (i) in
the case of Pledged Equity, are fully paid and non-assessable (if applicable) and (ii) in the case of Pledged Debt, are legal, valid and binding obligations of the issuers thereof (subject, in each case,
to the Enforcement Qualifications); 

  
 -5- 

 (c) except for the Security Interests granted hereunder, such Grantor (i) is the direct
owner, beneficially and of record, of the Pledged Securities indicated on Schedule II, (ii) holds the same free and clear of all Liens, other than Permitted Liens, and (iii) if requested by the Collateral Agent, will take
commercially reasonable actions necessary to defend its title or interest thereto or therein against any and all Liens (other than the Permitted Liens), however arising, of all Persons whomsoever; 

(d) except for restrictions and limitations (i) imposed or permitted by the Loan Documents, Contractual Obligations permitted pursuant to
Section 7.09 of the Credit Agreement, or securities laws generally, (ii) in the case of Pledged Equity of Persons that are not Subsidiaries, transfer restrictions that exist at the time of acquisition of Equity
Interests in such Persons (but not entered into in contemplation thereof), and (iii) except as described in the Perfection Certificate, the Pledged Collateral is freely transferable and assignable, and none of the Pledged Collateral is subject
to any option, right of first refusal, shareholders agreement, charter or bylaw provisions or contractual restriction of any nature that could reasonably be expected to prohibit, impair, delay or otherwise affect, in each case, in any manner
material and adverse to the Secured Parties, the pledge of such Pledged Collateral hereunder, the sale or disposition thereof pursuant hereto or the exercise by the Collateral Agent of rights and remedies hereunder; 

(e) the execution and performance by the Grantors of this Agreement are within each Grantor’s corporate, limited partnership or limited
liability company powers and have been duly authorized by all necessary corporate action or other organizational action; 
 (f) no material
consent or approval of any Governmental Authority under applicable U.S. law is necessary to ensure the validity of the pledge effected hereby, except for (i) approvals, consents, exemptions, authorizations, or other actions by, or notices to,
or filings and registrations necessary to perfect the Liens on the Collateral granted by the Loan Parties in favor of the Secured Parties (or release existing Liens), (ii) the approvals, consents, exemptions, authorizations, actions, notices and
filings which have been duly obtained, taken, given or made and are in full force and effect (except to the extent not required to be obtained, taken, given or made or in full force and effect pursuant to the Collateral and Guarantee Requirement)
and (iii) those approvals, consents, exemptions, authorizations or other actions, notices or filings, in each case the failure of which to obtain or make could not reasonably be expected to have a Material Adverse Effect; 

(g) by virtue of the execution and delivery by each Grantor of this Agreement, and delivery of the Pledged Equity to, and continued possession
of the Pledged Equity by, the Collateral Agent in the State of New York, the Collateral Agent (for the benefit of the Secured Parties) has a legal, valid and perfected first-priority lien upon and security interest in such Pledged Equity as security
for the payment and performance of the Secured Obligations to the extent such perfection is governed by the UCC, subject only to Permitted Liens and the Enforcement Qualifications; 

(h) by virtue of (i) the filing of UCC financing statements or other appropriate filings, recordings or registrations prepared by the
Collateral Agent based upon the information provided to the Collateral Agent in the Perfection Certificate for filing in the applicable filing office, in each case, as required by the Collateral and Guarantee Requirement and Section 6.11
of the Credit Agreement and (ii) delivery of promissory notes or other instruments evidencing the Pledged Debt to, and continued possession of the promissory notes or other instruments evidencing Pledged Debt by, the Collateral Agent in the
State of New York, the Collateral Agent (for the benefit of the Secured Parties) has a legal, valid and perfected security interest in respect of all Collateral in which the Security Interest in the Pledged

  
 -6- 

 
Debt may be perfected by filing or recording in the United States (or any political subdivision thereof) and its territories and possessions pursuant to the UCC or by possession of the promissory
notes or other instruments evidencing Pledged Debt (subject, in each case, to the Enforcement Qualifications); and 
 (i) the pledge effected
hereby is effective to vest in the Collateral Agent, for the benefit of the Secured Parties, the rights set forth herein of the Collateral Agent in the Pledged Collateral. 

Subject to the terms of this Agreement, each Grantor hereby agrees that upon the occurrence and during the continuance of an Event of Default
and the Collateral Agent having given the Borrower prior written notice of the intent to exercise such rights, it will comply with instructions of the Collateral Agent with respect to the Equity Interests in such Grantor that constitute Pledged
Equity hereunder that are not certificated without further consent by the applicable owner or holder of such Equity Interests. 

Notwithstanding anything to the contrary in this Agreement, to the extent any provision of this Agreement or the Credit Agreement excludes any
assets from the scope of the Pledged Collateral, or from any requirement to take any action to perfect any security interest in favor of the Collateral Agent for the benefit of the Secured Parties in the Pledged Collateral, the representations,
warranties and covenants made by any relevant Grantor in this Agreement with respect to the creation, perfection or priority (as applicable) of the security interest granted in favor of the Collateral Agent for the benefit of the Secured Parties
(including, without limitation, this Section 2.03) shall be deemed not to apply to such excluded assets. 
 SECTION 2.04 Article 8 Opt-In. No Grantor shall take any action to cause any membership interest, partnership interest, or other equity interest of any limited liability company or limited partnership owned or controlled by any
Grantor comprising Collateral to be or become a “security” within the meaning of, or to be governed by Article 8 of the UCC as in effect under the laws of any state having jurisdiction and shall not cause or permit any such limited
liability company or limited partnership to “opt in” or to take any other action seeking to establish any membership interest, partnership interest or other equity interest of such limited liability company or limited partnership
comprising the Collateral as a “security” or to become a certificated security, in each case, without delivering all certificates evidencing such interest to the Collateral Agent in accordance with and as required by
Section 2.02 or, in the case of any uncertificated security, without taking such steps, to the extent requested by the Collateral Agent, to provide the Collateral Agent with control (as defined in Article 8-106 of the UCC) of any such security. 
 SECTION 2.05 Registration in Nominee Name;
Denominations. If an Event of Default shall have occurred and be continuing and the Collateral Agent shall have given the Borrower prior written notice of its intent to exercise such rights, (a) the Collateral Agent, on behalf of the
Secured Parties, shall have the right to hold the Pledged Equity in its own name as pledgee, the name of its nominee (as pledgee or as sub-agent) or the name of the applicable Grantor, endorsed or assigned in
blank or in favor of the Collateral Agent and each Grantor will promptly give to the Collateral Agent copies of any written notices or other written communications received by it with respect to Pledged Equity registered in the name of such Grantor
and (b) the Collateral Agent shall have the right to exchange the certificates representing Pledged Equity for certificates of smaller or larger denominations for any purpose consistent with this Agreement, to the extent permitted by the
documentation governing such Pledged Securities. 

  
 -7- 

 SECTION 2.06 Voting Rights; Dividends and Interest. 

(a) Unless and until an Event of Default shall have occurred and be continuing and the Collateral Agent shall have provided prior written
notice to the Borrower that the rights of the Grantor under this Section 2.06 are being suspended: 

(i) Each Grantor shall be entitled to exercise any and all voting and/or other consensual rights and powers inuring to an owner
of Pledged Securities or any part thereof for any purpose that does not violate the Credit Agreement or other Loan Documents. 

(ii) The Collateral Agent shall promptly (after reasonable advance notice) execute and deliver to each Grantor, or cause to be
executed and delivered to such Grantor, all such proxies, powers of attorney and other instruments as such Grantor may reasonably request for the purpose of enabling such Grantor to exercise the voting and/or consensual rights and powers it is
entitled to exercise pursuant to clause (i) above. 
 (iii) Each Grantor shall be entitled to receive and retain
any and all dividends, interest, principal and other distributions paid on or distributed in respect of the Pledged Securities to the extent and only to the extent that such dividends, interest, principal and other distributions are permitted by,
and otherwise paid or distributed in accordance with, the terms and conditions of the Credit Agreement, the other Loan Documents and applicable Laws; provided that any noncash dividends, interest, principal or other distributions that would
constitute Pledged Equity or Pledged Debt, whether resulting from a subdivision, combination or reclassification of the outstanding Equity Interests of the issuer of any Pledged Securities or received in exchange for Pledged Securities or any part
thereof, or in redemption thereof, or as a result of any merger, consolidation, acquisition or other exchange of assets to which such issuer may be a party or otherwise, shall be and become part of the Pledged Collateral, and, if received by any
Grantor, shall be promptly (and in any event within ten (10) Business Days or such longer time as the Collateral Agent may agree) delivered to the Collateral Agent in the same form as so received (with any endorsement reasonably requested by
the Collateral Agent) to the extent required by Section 2.02. So long as no Event of Default has occurred and is continuing, the Collateral Agent shall promptly deliver to each Grantor any Pledged Securities in its
possession if requested to be delivered to the issuer thereof in connection with any exchange or redemption of such Pledged Securities permitted by the Credit Agreement in accordance with this Section 2.06(a)(iii). 

(b) Upon the occurrence and during the continuance of an Event of Default, after the Collateral Agent shall have notified the Borrower of the
suspension of the Grantors’ rights under paragraph (a)(iii) of this Section 2.06, then all rights of any Grantor to dividends, interest, principal or other distributions that such Grantor is authorized to
receive pursuant to paragraph (a)(iii) of this Section 2.06 shall cease, and all such rights shall thereupon become vested in the Collateral Agent, which shall have the sole and exclusive right and authority to
receive and retain such dividends, interest, principal or other distributions. All dividends, interest, principal or other distributions received by any Grantor contrary to the provisions of this Section 2.06 shall be
promptly delivered to the Collateral Agent upon demand in the same form as so received (with any endorsement reasonably requested by the Collateral Agent). Any and all money and other property paid over to or received by the Collateral Agent
pursuant to the provisions of this paragraph (b) shall be retained by the Collateral Agent in an account to be established by the Collateral Agent upon receipt of such money or other property and shall be applied in accordance with the
provisions of Section 4.02. After all Events of Default have been cured or waived, the Collateral Agent shall at the Grantor’s request promptly repay to each Grantor (without interest) all dividends, interest,
principal or other distributions that such Grantor would otherwise have been permitted to retain pursuant to the terms of paragraph (a)(iii) of this Section 2.06 and that remain in such account. 

  
 -8- 

 (c) Upon the occurrence and during the continuance of an Event of Default, after the
Collateral Agent shall have provided the Borrower with notice of the suspension of its rights under paragraph (a)(i) of this Section 2.06, then all rights of any Grantor to exercise the voting and consensual rights
and powers it is entitled to exercise pursuant to paragraph (a)(i) of this Section 2.06, and the obligations of the Collateral Agent under paragraph (a)(ii) of this Section 2.06,
shall cease, and all such rights shall thereupon become vested in the Collateral Agent, which shall have the sole and exclusive right and authority to exercise such voting and consensual rights and powers; provided that, unless otherwise
directed by the Required Lenders, the Collateral Agent shall have the right from time to time following and during the continuance of an Event of Default to permit the Grantors to exercise such rights. After all Events of Default have been cured or
waived, each Grantor shall have the exclusive right to exercise the voting and/or consensual rights and powers that such Grantor would otherwise be entitled to exercise pursuant to the terms of paragraph (a)(i) above, and the obligations of
the Collateral Agent under paragraph (a)(ii) of this Section 2.06 shall be reinstated. 
 (d) In order to
permit the Collateral Agent to exercise the voting and other consensual rights which it may be entitled to exercise pursuant hereto and to receive all dividends and other distributions which it may be entitled to receive hereunder, each Grantor
hereby grants to the Collateral Agent an irrevocable proxy to vote all or any part of the Pledged Collateral held by such Grantor and to exercise all other rights, powers, privileges and remedies to which a holder of such Pledged Collateral would be
entitled (including giving or withholding written consents of shareholders, partners or members, as the case may be, calling special meetings of shareholders, partners or members, as the case may be, and voting at such meetings), which proxy shall
only be effective during each period of time that an Event of Default has occurred and is continuing and the Collateral Agent has provided prior written notice to the Borrower that the Collateral Agent is exercising its rights under such proxy;
provided that during such time, such proxy shall be effective automatically and without the necessity of any action other than the written notice described above (including any transfer of such Pledged Collateral on the record books of the
issuer thereof) by any other Person (including the issuer of such Pledged Collateral or any officer or agent thereof). Each Grantor acknowledges and agrees that the irrevocable proxy granted to the Collateral Agent by such Grantor pursuant to the
preceding sentence with respect to the Pledged Collateral held by such Grantor is irrevocable and is coupled with an interest and shall be exercisable by the Collateral Agent only during each period of time that an Event of Default has occurred and
is continuing and the Collateral Agent has provided prior written notice to the Borrower that the Collateral Agent is exercising its rights under such proxy. Each Grantor shall promptly execute and deliver (or cause to be executed and delivered) to
the Collateral Agent all proxies, dividend payment orders and other instruments as the Collateral Agent may from time to time reasonably request, but in any event solely after an Event of Default has occurred and is continuing, and after having
provided required notice to the Borrower of its desire to exercise its rights hereunder, and each Grantor acknowledges that the Collateral Agent may utilize the power of attorney set forth in Section 6.13 herein in
accordance with the terms thereof. 
 (e) In the case of each Grantor which is an issuer of Pledged Collateral, such Grantor agrees to comply
with instructions originated by the Collateral Agent with respect to such Pledged Collateral after the occurrence and during the continuance of an Event of Default without further consent by the registered owner of such Pledged Collateral. 

  
 -9- 

 (f) Any notice given by the Collateral Agent to the Borrower under
Section 2.05 or Section 2.06 (i) shall be given in writing, (ii) may be given with respect to one or more Grantors at the same or different times and (iii) may suspend the rights of the
Grantors under paragraph (a)(i) or paragraph (a)(iii) of this Section 2.06 in part without suspending all such rights (as specified by the Collateral Agent in its sole and absolute discretion) and without
waiving or otherwise affecting the Collateral Agent’s rights to give additional notices from time to time suspending other rights so long as an Event of Default has occurred and is continuing. 

ARTICLE III 
 Security
Interests in Personal Property 
 SECTION 3.01 Security Interest. 

(a) Each Grantor, as security for the payment and performance in full of the Secured Obligations of such Grantor (including, if such Grantor is
a Guarantor, the Secured Obligations of such Grantor arising under the Guaranty), hereby pledges to the Collateral Agent, its successors and permitted assigns, for the benefit of the Secured Parties, and hereby grants to the Collateral Agent, its
successors and permitted assigns, for the benefit of the Secured Parties, a security interest (the “Security Interest”) in, all right, title or interest in or to any and all of the following assets and properties now owned or at any
time hereafter acquired by such Grantor or in which such Grantor now has or at any time in the future may acquire any right, title or interest (collectively, the “Article 9 Collateral”): 

(i) all Accounts; 

(ii) all Chattel Paper; 

(iii) all Deposit Accounts and Securities Accounts; 

(iv) all Letter of Credit Rights; 

(v) all Documents; 

(vi) all Equipment; 

(vii) all General Intangibles; 

(viii) all Goods and Fixtures; 

(ix) all Instruments; 

(x) all Inventory; 

(xi) all Investment Property; 

(xii) all books and records pertaining to the Article 9 Collateral; 

(xiii) all Intellectual Property; 

(xiv) all Commercial Tort Claims listed on Schedule 12 to the Perfection Certificate and any supplement or notice delivered
pursuant to Section 3.03(f); 
 (xv) all money, cash and Cash Equivalents; and 

  
 -10- 

 (xvi) to the extent not otherwise included, all Proceeds, products,
accessions, rents and profits of any and all of the foregoing and all Supporting Obligations, collateral security and guarantees given by any Person with respect to any of the foregoing; 

provided that, notwithstanding anything to the contrary in this Agreement, (i) this Agreement shall not constitute a grant of a security interest
in any Excluded Assets and (ii) the Article 9 Collateral (nor any defined term therein) shall not include any Excluded Assets. 
 (b)
Each Grantor hereby irrevocably authorizes the Collateral Agent for the benefit of the Secured Parties at any time and from time to time to file in any relevant jurisdiction any financing statements with respect to the Collateral or any part thereof
and amendments thereto and continuations thereof that (i) indicate the Collateral as “all assets of the debtor, whether now existing or hereafter arising” or words of similar effect as being of an equal or lesser scope or with greater
detail and (ii) contain the information required by Article 9 of the UCC or the analogous legislation of each applicable jurisdiction for the filing of any financing statement or amendment, including whether such Grantor is an organization, the
type of organization and, if required, any organizational identification number issued to such Grantor. Each Grantor agrees to provide such information to the Collateral Agent promptly upon any reasonable request. 

(c) The Security Interest is granted as security only and shall not subject the Collateral Agent or any other Secured Party to, or in any way
alter or modify, any obligation or liability of any Grantor with respect to or arising out of the Collateral; provided that the foregoing will not limit or otherwise affect the obligations and liabilities of the Grantors to the extent set
forth herein and in the other Loan Documents. 
 (d) In the case of any Registered Intellectual Property Collateral, each Grantor shall
execute and deliver to the Administrative Agent Intellectual Property Security Agreements covering all such Registered Intellectual Property Collateral on or prior to the Closing Date. 

(e) Upon written notice to the applicable Grantor, the Collateral Agent is authorized to file with the USPTO or the USCO (or any successor
office) such Intellectual Property Security Agreements (or supplements thereto) and such other documents as may be necessary for the purpose of perfecting, confirming, continuing, enforcing or protecting the Security Interest in Registered
Intellectual Property Collateral of each Grantor in which a security interest has been granted by such Grantor and naming any Grantor or the Grantors as debtors and the Collateral Agent as secured party. 

(f) Notwithstanding anything to the contrary in the Loan Documents, none of the Grantors shall be required, nor is the Collateral Agent
authorized, (i) to perfect the Security Interests granted by this Agreement (including Security Interests in Investment Property and Fixtures) by any means other than by (A) filings pursuant to the UCC in the office of the secretary of
state (or similar central filing office) of the relevant State(s), and filings in the applicable real estate records with respect to any fixtures relating to Mortgaged Property to the extent required by the Collateral and Guarantee Requirement,
(B) filings in the USPTO or the USCO (or any successor office) with respect to Registered Intellectual Property Collateral as expressly required herein, (C) delivery to the Collateral Agent to be held in its possession of all Collateral
consisting of certificated Pledged Collateral as expressly required elsewhere herein or (D) other methods expressly provided herein, (ii) other than with respect to any Cash Collateral Account (to the extent required by the Collateral
Agent), to enter into any deposit account control agreement, Securities Account control agreement or any other control agreement with respect to any deposit account, Securities Account or any other Collateral that requires perfection by
“control,” (iii) to take any action in any non-U.S. jurisdiction in order to create, perfect or record any security interests in any assets located or titled outside of the U.S. including any
Intellectual Property registered in any non 

  
 -11- 

 
U.S. jurisdiction (it being understood that no security agreements or pledge agreements governed under the laws of any non-U.S. jurisdiction shall be
required), (iv) to perfect in any assets subject to a certificate of title statute or (v) to deliver any Equity Interests or promissory notes or other instruments evidencing Indebtedness owed to any Grantor except as expressly provided in
Section 2.02. 
 SECTION 3.02 Representations and Warranties. Each Grantor represents and warrants to the
Collateral Agent and the Secured Parties that: 
 (a) Each Grantor has good and valid rights in and title (except as otherwise permitted by
the Loan Documents) to (or, with respect to Intellectual Property, good and valid rights in and title to or a license or other right to use) the Article 9 Collateral with respect to which it has purported to grant a Security Interest hereunder and
has full organizational power and authority to grant to the Collateral Agent the Security Interest in such Article 9 Collateral pursuant hereto and to execute, deliver and perform its obligations in accordance with the terms of this Agreement,
without the consent or approval of any Person other than (i) any consent or approval that has been obtained or (ii) any consent or approval the lack thereof could not reasonably be expected to cause a Material Adverse Effect. 

(b) The Perfection Certificate has been duly prepared, completed and executed and the information set forth therein is correct and complete in
all material respects (except for the information therein with respect to the exact legal name of each Grantor, which is correct and complete in all respects) as of the Closing Date. The UCC financing statements or other appropriate filings,
recordings or registrations prepared by the Collateral Agent based upon the information provided to the Collateral Agent in the Perfection Certificate for filing in the applicable filing office (or specified by notice from the Borrower to the
Collateral Agent after the Closing Date in the case of filings, recordings or registrations (other than filings required to be made in the USPTO and the USCO in order to perfect the Security Interest in Article 9 Collateral consisting of Registered
Intellectual Property Collateral), in each case, as required by the Collateral and Guarantee Requirement and Section 6.11 of the Credit Agreement), are all the filings, recordings and registrations that are necessary to
establish a legal, valid and perfected security interest in favor of the Collateral Agent (for the benefit of the Secured Parties) in respect of all Collateral in which, and to the extent that, the Security Interest may be perfected by filing,
recording or registration in the United States (or any political subdivision thereof) and its territories and possessions pursuant to the UCC; provided, however, that additional filings may be necessary in the USPTO and USCO to perfect
the Security Interest in any Registered Intellectual Property Collateral acquired, owned, filed or developed by or on behalf of any Grantor after the Closing Date. 

(c) Each Grantor represents and warrants that Intellectual Property Security Agreements containing a description of all Article 9 Collateral
consisting of Registered Intellectual Property Collateral (other than, in each case, any Excluded Assets) owned by, or exclusive Copyright Licenses granted to, such Grantor on the Closing Date, have been delivered as of or prior to the date hereof
to the Collateral Agent for recording with the USPTO and the USCO pursuant to 35 U.S.C. § 261, 15 U.S.C. § 1060 or 17 U.S.C. § 205 and the regulations thereunder, as applicable, (for the benefit of the Secured Parties) in respect of
all Article 9 Collateral consisting of Registered Intellectual Property Collateral owned by, or exclusive Copyright Licenses granted to, such Grantor on the Closing Date to the extent required by this Agreement or the Credit Agreement. To the extent
a security interest may be perfected by filing, recording or registration with the USPTO or the USCO, then no further or subsequent filing, re-filing, recording, rerecording, registration or reregistration is
necessary (other than (i) such filings and actions as are necessary to perfect the Security Interest with respect to any Article 9 Collateral consisting of Registered Intellectual Property Collateral acquired or owned by any Grantor after the
date hereof and (ii) the UCC financing and continuation statements contemplated in Section 3.02(b)). 

  
 -12- 

 (d) The Security Interest constitutes (i) a legal and valid security interest in all
the Article 9 Collateral securing the payment and performance of the Secured Obligations and (ii) subject to the filings described in Section 3.02(b), a perfected security interest in all Article 9 Collateral in which
a security interest may be perfected by such filing, recording or registering a financing statement or analogous document in the United States (or any political subdivision thereof) and its territories and possessions pursuant to the UCC. The
Security Interest is and shall be prior to any other Lien on any of the Article 9 Collateral, other than Permitted Liens. 
 (e) The Article
9 Collateral is owned by the Grantors free and clear of any Lien, except for Permitted Liens. None of the Grantors has filed or consented to the filing of (i) any financing statement under the UCC except with respect to Permitted Liens,
(ii) (A) any assignment in which any Grantor assigns any Article 9 Collateral or (B) any security agreement or similar instrument covering any Article 9 Collateral, in each case, with the USPTO or the USCO or (iii) any assignment in
which any Grantor assigns any Collateral or any security agreement or similar instrument covering any Collateral with any foreign governmental, municipal or other office, which assignment, security agreement or similar instrument is still in effect,
except, in each case, for Permitted Liens and assignments expressly permitted by the Credit Agreement. 
 SECTION 3.03 Covenants.

 (a) The Borrower agrees to promptly, but at any event within sixty (60) days (or such longer period as the Collateral Agent may agree
in its reasonable discretion), notify the Collateral Agent in writing of (x) any change in (i) the legal name of any Grantor, (ii) the identity or type of organization or corporate structure of any Grantor, (iii) the jurisdiction
of organization of any Grantor, (iv) the chief executive office of any Grantor or (v) the organizational identification number of such Grantor (to the extent such information is necessary to maintain perfection of the Security Interest),
if any and (y) on each date on which a Compliance Certificate is delivered to the Collateral Agent pursuant to Section 6.02(a) of the Credit Agreement, any new location where any Inventory or Equipment (other than
(x) mobile goods, (y) Inventory or Equipment in transit or out for repair or refurbishment and (z) Inventory and Equipment in the possession of employees or customers of the Grantors in the ordinary course of business) in excess of
$5,000,000 (per location) are kept. 
 (b) Subject to Section 3.01(f) and
Section 3.03(e)(iii), each Grantor shall, at its own expense, upon the reasonable request of the Collateral Agent, take any and all commercially reasonable actions necessary to defend title to the Collateral against all
Persons and to defend the Security Interest of the Collateral Agent in the Collateral and the priority thereof against any Lien not expressly permitted pursuant to Section 7.01 of the Credit Agreement; provided that
nothing in this Agreement shall prevent any Grantor from discontinuing the operation or maintenance of any of its assets or properties if such discontinuance is permitted by the Credit Agreement. 

(c) Subject to Section 3.01(f), each Grantor agrees, at its own expense, to execute, acknowledge, deliver and cause
to be filed all such further instruments and documents and take all such actions as the Collateral Agent may from time to time reasonably request to better assure, preserve, protect and perfect the Security Interest and the rights and remedies
created hereby, including the payment of any fees and taxes required in connection with the execution and delivery of this Agreement, the granting of the Security Interest and the filing of any financing statements or other documents in connection
herewith or therewith. Notwithstanding the foregoing, nothing in this Agreement or in any other Loan Document shall require any Grantor to make any filings or take any other actions in any jurisdiction outside of the United States to record or
perfect the Collateral Agent’s security interest in any Intellectual Property of any Grantor. 

  
 -13- 

 (d) At its option solely after the occurrence and during the continuance of an Event of
Default, upon five (5) Business Days’ prior written notice to the Grantors, the Collateral Agent may discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the
Collateral that are not Permitted Liens, and may pay for the maintenance and preservation of the Collateral to the extent any Grantor fails to do so as required by the Credit Agreement or any other Loan Document and within a reasonable period of
time after the Collateral Agent has required that it do so, and each Grantor jointly and severally agrees to reimburse the Collateral Agent pursuant to the terms of the Credit Agreement; provided, however, the Grantors shall not be
obligated to reimburse the Collateral Agent with respect to any Intellectual Property that any Grantor has failed to maintain or pursue, or otherwise allowed to lapse, terminate or be put into the public domain as permitted by
Section 3.03(e). Nothing in this paragraph (d) shall be interpreted as excusing any Grantor from the performance of, or imposing any obligation on the Collateral Agent or any Secured Party to cure or perform,
any covenants or other promises of any Grantor with respect to taxes, assessments, charges, fees, Liens, security interests or other encumbrances and maintenance as set forth herein or in the other Loan Documents. 

(e) Intellectual Property Covenants. 

(i) Each Grantor agrees to (A) take, at its expense, all reasonable steps, including in the USPTO and the USCO, to pursue
the registration and maintenance of each Patent, Trademark, or Copyright registration or application now or hereafter included in the Collateral owned by such Grantor that are not Excluded Assets, (B) take all reasonable steps to prevent any of
the Intellectual Property included in the Collateral owned by such Grantor from lapsing, being terminated, or becoming invalid or unenforceable or placed in the public domain (or in the case of a trade secret, become publicly known) and
(C) take all reasonable steps to preserve and protect each item of its Intellectual Property owned by such Grantor, including, without limitation, taking reasonable steps necessary to ensure that all licensed users of any of the Trademarks
abide by the applicable license’s terms with respect to standards of quality, in each case of (A), (B) and (C) above, (x) other than with respect to Registered Intellectual Property Collateral which is no longer used by or useful in the
applicable Grantor’s business operations or (y) except where the failure to do so would not, as deemed by the applicable Grantor in its reasonable business judgment, be expected to have a Material Adverse Effect. 

(ii) On each date on which a Compliance Certificate is delivered to the Administrative Agent pursuant to
Section 6.02(a) of the Credit Agreement, the Borrower shall provide a list of any Registered Intellectual Property Collateral not subject to the filings required under Section 3.02(c), together
with supplemental Intellectual Property Security Agreements substaintially in the form of Exhibits III, IV and V hereto covering all such Registered Intellectual Property Collateral. 

(iii) Notwithstanding any other provision of this Agreement, nothing in this Agreement or any other Loan Document prevents or
shall be deemed to prevent any Grantor from disposing of, discontinuing the use or maintenance of, failing to pursue, or otherwise allowing to lapse, terminate or be put into the public domain, any of its Intellectual Property to the extent
permitted by the Credit Agreement if such Grantor determines in its reasonable business judgment that such disposition of, discontinuance, failure to pursue, or other allowance to lapse, termination, or placement in the public domain is desirable in
the conduct of its business. 

  
 -14- 

 (f) If any Grantor shall at any time hold or acquire a Commercial Tort Claim, such Grantor
shall promptly (and in any event within 30 days) deliver a supplement to Schedule 12 of the Perfection Certificate to the Collateral Agent or notify the Collateral Agent in writing signed by such Grantor of the brief details thereof and grant to the
Collateral Agent in such writing a security interest therein and in the Proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to the Collateral Agent. The requirement in the
preceding sentence shall not apply to the extent that the amount of such Commercial Tort Claim does not exceed $1,000,000. 
 (g) Each
Grantor (rather than the Collateral Agent or any Secured Party) shall remain liable (as between itself and any relevant counterparty) to observe and perform all the conditions and obligations to be observed and performed by it under each contract,
agreement or instrument relating to the Collateral, all in accordance with the terms and conditions thereof, and each Grantor jointly and severally agrees to indemnify and hold harmless the Collateral Agent and the other Secured Parties from and
against any and all liability for such performance. 
 ARTICLE IV 

Remedies 
 SECTION
4.01 Remedies Upon Default. Upon the occurrence and during the continuance of an Event of Default, it is agreed that the Collateral Agent shall have the right to exercise any and all rights afforded to a secured party with respect to the
Secured Obligations, under the UCC or other applicable Law or in equity, and also may (i) require each Grantor to, and each Grantor agrees that it will at its expense and upon request of the Collateral Agent, promptly assemble all or part of
the Collateral as directed by the Collateral Agent and make it available to the Collateral Agent at a place and time to be designated by the Collateral Agent that is reasonably convenient to both parties; (ii) occupy any premises owned or, to
the extent lawful and permitted, leased (it being acknowledged and agreed that the Grantors are not required to obtain any waiver or consent from any owner of such leased premises in connection with such occupancy or attempted occupancy) by any of
the Grantors where the Collateral or any part thereof is assembled or located for a reasonable period in order to effectuate its rights and remedies hereunder or under Law, without obligation to such Grantor in respect of such occupation;
provided that the Collateral Agent shall provide the applicable Grantor with reasonable prior written notice thereof prior to such occupancy; (iii) exercise any and all rights and remedies of any of the Grantors under or in connection
with the Collateral, or otherwise in respect of the Collateral; provided that the Collateral Agent shall, to the extent required by applicable law or otherwise required hereunder, provide the applicable Grantor with reasonable written notice
thereof prior to such exercise; and (iv) subject to the mandatory requirements of applicable Law and the notice requirements described below, sell or otherwise dispose of all or any part of the Collateral securing the Secured Obligations at a
public or private sale or at any broker’s board or on any securities exchange, for cash, upon credit or for future delivery as the Collateral Agent shall deem appropriate. The Collateral Agent shall be authorized at any such sale of securities
permitted by the immediately preceding sentence to restrict (if it deems it advisable to do so) the prospective bidders or purchasers to Persons who will represent and agree that they are purchasing the Collateral for their own account for
investment and not with a view to the distribution or sale thereof, and upon consummation of any such sale the Collateral Agent shall have the right to assign, transfer and deliver to the purchaser or purchasers thereof the Collateral so sold. Each
such purchaser at any such sale of Collateral permitted by this Section 4.01 shall hold the property sold absolutely, free from any claim or right on the part of any Grantor, and each Grantor hereby waives (to the extent
permitted by Law) all rights of redemption, stay and appraisal which such Grantor now has or may at any time in the future have under any Law now existing or hereafter enacted. 

The Collateral Agent shall give the applicable Grantors ten (10) days’ written notice (which each Grantor agrees is
(A) commercially reasonable notice within the meaning of Section 9-611 of the UCC or its equivalent in other jurisdictions and (B) reasonable for purposes of this Section 4.01) of the
Collateral Agent’s intention to make any sale of Collateral. Such notice, in the case of a public sale, shall state the time and place for such sale and, in the case of a sale at a broker’s board or on a securities

  
 -15- 

 
exchange, shall state the board or exchange at which such sale is to be made and the day on which the Collateral, or portion thereof, will first be offered for sale at such board or exchange. Any
such public sale shall be held at such time or times within ordinary business hours and at such place or places as the Collateral Agent may fix and state in the notice (if any) of such sale. At any such sale, the Collateral, or portion thereof, to
be sold may be sold in one lot as an entirety or in separate parcels, as the Collateral Agent may (in its sole and absolute discretion) determine. The Collateral Agent shall not be obligated to make any sale of any Collateral if it shall determine
not to do so, regardless of the fact that notice of sale of such Collateral shall have been given. The Collateral Agent may, without notice or publication, adjourn any public or private sale or cause the same to be adjourned from time to time by
announcement at the time and place fixed for sale, and such sale may, without further notice, be made at the time and place to which the same was so adjourned. In case any sale of all or any part of the Collateral is made on credit or for future
delivery, the Collateral so sold may be retained by the Collateral Agent until the sale price is paid by the purchaser or purchasers thereof, but the Collateral Agent shall not incur any liability in case any such purchaser or purchasers shall fail
to take up and pay for the Collateral so sold and, in case of any such failure, such Collateral may be sold again upon like notice. At any public (or, to the extent permitted by Law, private) sale made pursuant to this Agreement, any Secured Party
may bid for or purchase, free (to the extent permitted by Law) from any right of redemption, stay, valuation or appraisal on the part of any Grantor (all said rights being also hereby waived and released to the extent permitted by Law), the
Collateral or any part thereof offered for sale and may make payment on account thereof by using any claim then due and payable to such Secured Party from any Grantor as a credit against the purchase price, and such Secured Party may, upon
compliance with the terms of sale, hold, retain and dispose of such property without further accountability to any Grantor therefor. For purposes hereof, a written agreement to purchase the Collateral or any portion thereof shall be treated as a
sale thereof; the Collateral Agent shall be free to carry out such sale pursuant to such agreement and no Grantor shall be entitled to the return of the Collateral or any portion thereof subject thereto, notwithstanding the fact that after the
Collateral Agent shall have entered into such an agreement all Events of Default shall have been remedied and the Secured Obligations paid in full. As an alternative to exercising the power of sale herein conferred upon it, the Collateral Agent may
proceed by a suit or suits at Law or in equity to foreclose this Agreement and to sell the Collateral or any portion thereof pursuant to a judgment or decree of a court or courts having competent jurisdiction or pursuant to a proceeding by a
court-appointed receiver. Any sale pursuant to the provisions of this Section 4.01 shall be deemed to conform to the commercially reasonable standards as provided in
Section 9-610(b) of the UCC or its equivalent in other jurisdictions. 
 SECTION 4.02
Application of Proceeds. The Collateral Agent shall apply the proceeds of any collection or sale of Collateral, including any Collateral consisting of cash, in accordance with Section 8.03 of the Credit Agreement.

 The Collateral Agent shall have absolute discretion as to the time of application of any such proceeds, moneys or balances in accordance
with this Agreement. Upon any sale of Collateral by the Collateral Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the Collateral Agent or of the officer making the sale shall be a
sufficient discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Collateral Agent or such officer or be
answerable in any way for the misapplication thereof. 
 The Collateral Agent shall have no liability to any of the Secured Parties for
actions taken in reliance on information supplied to it as to the amounts of unpaid principal and interest and other amounts outstanding with respect to the Secured Obligations; provided that nothing in this sentence shall prevent any Grantor
from contesting any amounts claimed by any Secured Party in any information so supplied. All distributions made by the Collateral Agent pursuant to this Section 4.02 shall be final (absent manifest error). 

  
 -16- 

 SECTION 4.03 Grant of License to Use Intellectual Property. For the exclusive purpose
of enabling the Collateral Agent to exercise rights and remedies under this Agreement at and during the continuance of such time as the Collateral Agent shall be lawfully entitled to exercise such rights and remedies upon the occurrence and at any
time during the continuance of an Event of Default, each Grantor hereby grants to the Collateral Agent a nonexclusive, royalty-free, limited license (until the termination or cure of the Event of Default) to use, license or sublicense (to the extent
permitted by the terms of such licenses and sublicenses) any of the Intellectual Property rights now owned or hereafter acquired by such Grantor, and including in such license reasonable access to all media in which any of the licensed items may be
recorded or stored and to all computer software used for the compilation or printout thereof; provided, however, that all of the foregoing rights of the Collateral Agent to use such licenses, sublicenses and other rights, and (to the
extent permitted by the terms of such licenses and sublicenses) all licenses and sublicenses granted thereunder, shall expire immediately upon the termination or cure of all Events of Default (together with the Borrower’s written notice to the
Collateral Agent of such termination or cure) and shall be exercised by the Collateral Agent solely in connection with the Collateral Agent’s exercise of remedies pursuant to Section 4.01 (it being understood that the
Collateral Agent may re-exercise the rights granted hereunder in the event of subsequent Events of Default), and nothing in this Section 4.03 shall require Grantors to grant any
license or sublicense that is prohibited by any rule of law, statute or regulation, or is prohibited by, or constitutes a breach or default under or results in the termination of any contract, license, agreement, instrument or other document
evidencing, giving rise to or theretofore granted with respect to such Intellectual Property; provided, further, that any such license or sublicense and any such license or sublicense granted by the Collateral Agent to a third party
shall include reasonable and customary terms and conditions necessary to preserve the existence, validity, enforceability and value of the affected Intellectual Property, including provisions requiring the continuing confidential handling of trade
secrets, and quality control and provisions with regard to Trademarks (it being understood that such terms used by such Grantor in its agreements concerning Intellectual Property as of the Event of Default satisfies the foregoing requirement) (it
being further understood and agreed that, without limiting any other rights and remedies of the Collateral Agent under this Agreement, any other Loan Document or applicable Law, nothing in the foregoing license grant shall be construed as granting
the Collateral Agent rights in and to such Intellectual Property above and beyond (x) the rights to such Intellectual Property that each Grantor is entitled under applicable law or contract and (y) in the case of Intellectual Property that
is licensed to any such Grantor by a third party, the extent to which such Grantor has the right to grant a sublicense to such Intellectual Property hereunder). For the avoidance of doubt, the use of such license by the Collateral Agent may be
exercised, at the option of the Collateral Agent, only during the continuance of an Event of Default. Upon the occurrence and during the continuance of an Event of Default, the Collateral Agent may also exercise the rights afforded under
Section 4.01 of this Agreement with respect to Intellectual Property contained in the Article 9 Collateral. 

SECTION 4.04 Effect of Securities Laws. Each Grantor recognizes that the Collateral Agent may be unable to effect a public sale of any
or all of the Pledged Collateral by reason of certain prohibitions contained in the Securities Act and applicable state securities laws or otherwise, and may be compelled to resort to one or more private sales thereof to a restricted group of
purchasers which will be obliged to agree, among other things, to acquire such securities for their own account for investment and not with a view to the distribution or resale thereof. Each Grantor acknowledges and agrees that any such private sale
may result in prices and other terms less favorable than if such sale were a public sale and, notwithstanding such circumstances, agrees that any such private sale shall be deemed to have been made in a commercially reasonable manner. The Collateral
Agent shall be under no obligation to delay a sale of any of the Pledged Collateral for the period of time necessary to permit the applicable issuer thereof to register such securities for public sale under the Securities Act, or under applicable
state securities laws, even if such issuer would agree to do so. 

  
 -17- 

 SECTION 4.05 Deficiency. Each Grantor shall remain liable for any deficiency if the
proceeds of any sale or other disposition of the Collateral are insufficient to pay its Secured Obligations and, to the extent set forth herein and in the other Loan Documents, the fees and disbursements of any attorneys employed by any Secured
Party to collect such deficiency. 
 ARTICLE V 

Subordination 

SECTION 5.01 Subordination. 

(a) Notwithstanding any provision of this Agreement to the contrary, all rights of the Grantors to indemnity, contribution or subrogation under
applicable law or otherwise shall be fully subordinated to (and each Grantor hereby agrees that it will not exercise such rights) until the payment in full in cash of all Obligations (other than (i) contingent obligations as to which no claim
has been asserted and (ii) Letters of Credit which have been backstopped or Cash Collateralized in accordance with the terms of the Credit Agreement). No failure on the part of the Borrower or any other Grantor to make the payments required
under applicable law or otherwise shall in any respect limit the obligations and liabilities of any Grantor with respect to its obligations hereunder, and each Grantor shall remain liable for the full amount of the Obligations of such Grantor
hereunder. 
 (b) Each Grantor hereby agrees that upon the occurrence and during the continuance of an Event of Default and after prior
written notice from the Collateral Agent, all Indebtedness owed to it by any other Grantor shall be fully subordinated to the payment in full in cash of the Obligations (other than (i) contingent obligations as to which no claim has been
asserted and (ii) Letters of Credit which have been backstopped or Cash Collateralized in accordance with the terms of the Credit Agreement). 

ARTICLE VI 

Miscellaneous 

SECTION 6.01 Notices. All communications and notices hereunder shall (except as otherwise expressly permitted herein) be in writing and
given as provided in Section 10.02 of the Credit Agreement. All communications and notices hereunder to the Borrower or any other Grantor shall be given to it in care of the Borrower as provided in
Section 10.02 of the Credit Agreement. 
 SECTION 6.02 Waivers; Amendment. 

(a) No failure or delay by any Secured Party in exercising any right, remedy, power or privilege hereunder or under any other Loan Document
shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The
rights, remedies, powers and privileges of the Secured Parties herein provided, and provided under each other Loan Document, are cumulative and are not exclusive of any rights, remedies, powers and privileges provided by Law. No waiver of any
provision of this Agreement or consent to any departure by any Grantor therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section 6.02, and then such waiver or
consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan or the issuance of a Letter of Credit or the provision of services under Treasury
Services Agreements or Secured Hedge Agreements shall not be construed as a waiver of any Default or Event of Default, regardless of whether any Secured Party may have had notice or knowledge of such Default or Event of Default at the time. 

  
 -18- 

 (b) Subject to the terms of any Intercreditor Agreement, neither this Agreement nor any
provision hereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Collateral Agent and the Grantor or Grantors with respect to which such waiver, amendment or modification is to apply,
subject to the Collateral and Guarantee Requirement and any consent required in accordance with Section 10.01 of the Credit Agreement. 

SECTION 6.03 Collateral Agent’s Fees and Expenses; Indemnification. 

(a) The parties hereto agree that the Collateral Agent shall be entitled to reimbursement of its reasonable and documented out-of-pocket expenses incurred hereunder and indemnity for its actions in connection herewith as provided in Sections 10.04 and 10.05 of the Credit Agreement.

 (b) Any such amounts payable as provided hereunder shall be additional Secured Obligations secured hereby and by the other Collateral
Documents. The provisions of this Section 6.03 shall remain operative and in full force and effect regardless of the termination of this Agreement or any other Loan Document, the consummation of the transactions
contemplated hereby, the repayment of any of the Secured Obligations, the invalidity or unenforceability of any term or provision of this Agreement or any other Loan Document, or any investigation made by or on behalf of the Collateral Agent or any
other Secured Party. All amounts due under this Section 6.03 shall be payable within thirty (30) Business Days of written demand therefor (including documentation reasonably supporting such request). 

SECTION 6.04 Successors and Assigns. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective permitted successors and assigns. 
 SECTION 6.05 Survival of Agreement. All covenants, agreements,
representations and warranties made by the Grantors hereunder and in any other document delivered pursuant hereto or in connection herewith (including the Loan Documents) shall survive the execution and delivery hereof and thereof, the making of any
Loans and issuances of any Letters of Credit and the provision of services under Treasury Services Agreements or Secured Hedge Agreements, regardless of any investigation made by any Secured Party or on its behalf and notwithstanding that any
Secured Party may have had notice or knowledge of any Default or Event of Default at the time of any Credit Extension and the provision of services under Treasury Services Agreements or Secured Hedge Agreements, and shall continue in full force and
effect as long as this Agreement has not been terminated or released pursuant to Section 6.11 below. 
 SECTION
6.06 Counterparts; Effectiveness; Several Agreement. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery by
facsimile or other electronic transmission of an executed counterpart of a signature page to this Agreement shall be effective as delivery of an original executed counterpart of this Agreement. This Agreement shall become effective as to any Grantor
when this Agreement shall have been executed and delivered by such Grantor and the Collateral Agent and thereafter shall be binding upon such Grantor and the Collateral Agent and their respective permitted successors and assigns, and shall inure to
the benefit of such Grantor, the Collateral Agent and each other Secured Party and their respective permitted successors and assigns, in each case in accordance with Section 10.07 of the Credit Agreement (if applicable),
except that no Grantor shall have the right to assign or transfer its rights or obligations hereunder or any interest herein without the prior written consent of the Collateral Agent except as permitted by the Credit Agreement. This Agreement shall
be construed as a separate agreement with respect to each Grantor and may be amended, restated, amended and restated, modified, supplemented, waived or released with respect to any Grantor without the approval of any other Grantor and without
affecting the obligations of any other Grantor hereunder. 

  
 -19- 

 SECTION 6.07 Severability. If any provision of this Agreement is held to be illegal,
invalid or unenforceable, the legality, validity and enforceability of the remaining provisions of this Agreement shall not be affected or impaired thereby. The invalidity of a provision in a particular jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. 
 SECTION 6.08 Governing Law; Jurisdiction; Venue; Waiver of Jury Trial; Consent
to Service of Process. 
 (a) The terms of Sections 10.15 and 10.16 of the Credit Agreement with respect to governing law,
submission of jurisdiction, venue and waiver of jury trial are incorporated herein by reference, mutatis mutandis, and the parties hereto agree to such terms. 

(b) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in
Section 6.01. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by Law. 

SECTION 6.09 Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference only, are
not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 

SECTION 6.10 Security Interest Absolute. To the extent permitted by Law, all rights of the Collateral Agent hereunder, the Security
Interest, the grant of a security interest in the Pledged Collateral and all obligations of each Grantor hereunder shall be absolute and unconditional irrespective of (a) any lack of validity or enforceability of the Credit Agreement, any other
Loan Document, any agreement with respect to any of the Secured Obligations or any other agreement or instrument relating to any of the foregoing, (b) any change in the time, manner or place of payment of, or in any other term of, all or any of
the Secured Obligations, or any other amendment or waiver of or any consent to any departure from the Credit Agreement, any other Loan Document or any other agreement or instrument, (c) any exchange, release or
non-perfection of any Lien on other collateral, or any release or amendment or waiver of or consent under or departure from any guarantee, securing or guaranteeing all or any of the Secured Obligations or
(d) any other circumstance that might otherwise constitute a defense (other than defense of payment or performance) available to, or a discharge of, any Grantor in respect of the Secured Obligations or this Agreement. 

SECTION 6.11 Termination, Release or Subordination. 

(a) This Agreement (other than with respect to provisions hereof that expressly survive termination), the Security Interest and all other
security interests granted hereby shall terminate with respect to all Secured Obligations and any Liens arising therefrom shall be automatically released upon the termination of the Aggregate Commitments, the payment in full of all Secured
Obligations (other than Cash Management Obligations, obligations not yet due and payable in respect of Secured Hedge Agreements and contingent obligations not yet due) and the expiration or termination of all Letters of Credit (other than Letters of
Credit which have been Cash Collateralized or as to which other arrangements reasonably satisfactory to the Collateral Agent and the relevant L/C Issuers shall have been made). 

(b) A Subsidiary Party shall automatically be released from its obligations hereunder and the Security Interest and any Liens granted herein to
the Collateral Agent in the Collateral of such Subsidiary Party shall be automatically released as and when such Subsidiary Party is released from its Guaranty pursuant to Section 9.10(d) of the Credit Agreement. 

  
 -20- 

 (c) Upon any sale or transfer by any Grantor of any Collateral that is permitted under the
Credit Agreement (other than a sale or transfer to another Loan Party), or upon the effectiveness of any written consent to the release of the Security Interest granted hereby in any Collateral pursuant to Section 10.01 of
the Credit Agreement, the security interest in such Collateral shall be automatically released. 
 (d) The Security Interest granted hereby
in any Collateral shall be subordinated to another Lien permitted by Section 7.01 of the Credit Agreement, in accordance with the terms of Section 9.10(c) of the Credit Agreement, either
(i) upon written election by the Collateral Agent to subordinate such security interest or (ii) in respect of Liens permitted by Sections 7.01(u) of the Credit Agreement to the extent and for so long as the contract or other
agreement in which such Lien is granted validly prohibits the creation of any other Lien on such assets that is not subordinated. 
 (e) In
connection with any termination or release pursuant to paragraph (a), (b) or (c) of this Section 6.11, the Collateral Agent shall promptly execute and deliver to any Grantor, at such Grantor’s
expense, all documents that such Grantor shall reasonably request to evidence such termination or release and shall promptly perform such other actions reasonably requested by such Grantor to effect such release, including delivery of certificates,
securities and instruments. Any execution and delivery of documents pursuant to this Section 6.11 shall be without recourse to or warranty by the Collateral Agent. 

SECTION 6.12 Additional Grantors. Pursuant to Section 6.11 of the Credit Agreement, certain additional
Restricted Subsidiaries of the Grantors may be required to enter in this Agreement as Grantors. Upon execution and delivery by the Collateral Agent and a Restricted Subsidiary of a Security Agreement Supplement, such Restricted Subsidiary shall
become a Grantor hereunder with the same force and effect as if originally named as a Grantor herein. The execution and delivery of any such instrument shall not require the consent of any other Grantor hereunder, except to the extent obtained on or
prior to such date and in full force and effect on such date. The rights and obligations of each Grantor hereunder shall remain in full force and effect notwithstanding the addition of any new Grantor as a party to this Agreement. 

SECTION 6.13 Collateral Agent Appointed
Attorney-in-Fact. Each Grantor hereby appoints the Collateral Agent the
attorney-in-fact of such Grantor for the purpose of carrying out the provisions of this Agreement and taking any action and executing any instrument that the Collateral
Agent may deem necessary or advisable to accomplish the purposes hereof at any time after the occurrence and during the continuance of an Event of Default, which appointment is irrevocable and coupled with an interest. Without limiting the
generality of the foregoing, the Collateral Agent shall have the right, after the occurrence and during the continuance of an Event of Default and, to the extent reasonably practicable, notice by the Collateral Agent to the applicable Grantor of the
Collateral Agent’s intent to exercise such rights, with full power of substitution either in the Collateral Agent’s name or in the name of such Grantor (a) to receive, endorse, assign and/or deliver any and all notes, acceptances,
checks, drafts, money orders or other evidences of payment relating to the Collateral or any part thereof; (b) to demand, collect, receive payment of, give receipt for and give discharges and releases of all or any of the Collateral;
(c) to sign the name of any Grantor on any invoice or bill of lading relating to any of the Collateral; (d) upon prior written notice to the Borrower, to send verifications of Accounts to any Account Debtor; (e) to commence and
prosecute any and all suits, actions or proceedings at Law or in equity in any court of competent jurisdiction to collect or otherwise realize on all or any of the Collateral or to enforce any rights in respect of any Collateral; (f) to settle,
compromise, compound, adjust or defend any actions, suits or proceedings relating to all or any of the Collateral; (g) upon prior written notice to the 

  
 -21- 

 
Borrower, to notify, or to require any Grantor to notify, Account Debtors to make payment directly to the Collateral Agent; (h) upon prior written notice to the Borrower, to otherwise
communicate with any Account Debtor; (i) to make, settle and adjust claims in respect of Collateral under policies of insurance, endorse the name of such Grantor on any check, draft, instrument or other item of payment for the proceeds of such
policies of insurance; (j) to make all determinations and decisions with respect to policies of insurance; (k) to obtain or maintain the policies of insurance required by Section 6.07 of the Credit Agreement or to
pay any premium in whole or in part relating thereto; and (l) to use, sell, assign, transfer, pledge, make any agreement with respect to or otherwise deal with all or any of the Collateral, and to do all other acts and things the Collateral
Agent may reasonably deem necessary to carry out the purposes of this Agreement, as fully and completely as though the Collateral Agent were the absolute owner of the Collateral for all purposes; provided that nothing herein contained shall
be construed as requiring or obligating the Collateral Agent to make any commitment or to make any inquiry as to the nature or sufficiency of any payment received by the Collateral Agent, or to present or file any claim or notice, or to take any
action with respect to the Collateral or any part thereof or the moneys due or to become due in respect thereof or any property covered thereby. The Collateral Agent and the other Secured Parties shall be accountable only for amounts actually
received as a result of the exercise of the powers granted to them herein, and neither they nor their officers, directors, employees or agents shall be responsible to any Grantor for any act or failure to act hereunder, except for their own gross
negligence, bad faith, willful misconduct, or material breach of this Agreement or that of any of their Affiliates, directors, officers, employees, partners, advisors, counsel, agents,
attorneys-in-fact or other representatives, in each case, as determined by a final non-appealable judgment of a court of
competent jurisdiction. All sums disbursed by the Collateral Agent in connection with this Section 6.13 shall be payable to the extent provided by the terms of Section 10.04 of the Credit
Agreement. 
 SECTION 6.14 General Authority of the Collateral Agent. By acceptance of the benefits of this Agreement and any other
Collateral Documents, each Secured Party (whether or not a signatory hereto) shall be deemed irrevocably (a) to consent to the appointment of the Collateral Agent as its agent hereunder and under such other Collateral Documents, (b) to
confirm that the Collateral Agent shall have the authority to act as the exclusive agent of such Secured Party for the enforcement of any provisions of this Agreement and such other Collateral Documents against any Grantor, the exercise of remedies
hereunder or thereunder and the giving or withholding of any consent or approval hereunder or thereunder relating to any Collateral or any Grantor’s obligations with respect thereto, (c) to agree that it shall not take any action to
enforce any provisions of this Agreement or any other Collateral Document against any Grantor, to exercise any remedy hereunder or thereunder or to give any consents or approvals hereunder or thereunder except as expressly provided in this Agreement
or any other Collateral Document and (d) to agree to be bound by the terms of this Agreement and any other Collateral Documents. 

SECTION 6.15 Reasonable Care. The Collateral Agent is required to use reasonable care in the custody and preservation of any of the
Collateral in its possession; provided that the Collateral Agent shall be deemed to have used reasonable care in the custody and preservation of any of the Collateral, if such Collateral is accorded treatment substantially similar to that
which the Collateral Agent accords its own property. 
 SECTION 6.16 Delegation; Limitation. The Collateral Agent may execute any of
the powers granted under this Agreement and perform any duty hereunder either directly or by or through agents or attorneys-in-fact, and shall not be responsible for the
gross negligence or willful misconduct of any agents or attorneys-in-fact selected by it with reasonable care and without gross negligence or willful misconduct. 

  
 -22- 

 SECTION 6.17 Reinstatement. The obligations of the Grantors under this Agreement, and
the security interest granted hereby, shall in each case be automatically reinstated if and to the extent that for any reason any payment by or on behalf of the Borrower or other Loan Party in respect of the Secured Obligations is rescinded or must
be otherwise restored by any holder of any of the Secured Obligations, whether as a result of any proceedings in bankruptcy or reorganization or otherwise. 

SECTION 6.18 Intercreditor Agreement. Notwithstanding anything herein to the contrary, the Liens and the Security Interest granted to
the Collateral Agent pursuant to this Agreement and the exercise of any right or remedy by the Collateral Agent hereunder, will be subject in all respects to the provisions of any Intercreditor Agreement (including the Closing Date Intercreditor
Agreement). In the event of any conflict between the terms of any Intercreditor Agreement and this Agreement (including the Closing Date Intercreditor Agreement), the terms of such Intercreditor Agreement shall govern and control. 

SECTION 6.19 Miscellaneous. The Collateral Agent shall not be deemed to have actual, constructive, direct or indirect notice or
knowledge of the occurrence of any Event of Default unless and until the Collateral Agent shall have received a notice of Event of Default or a notice from the Grantor or the Secured Parties to the Collateral Agent in its capacity as Collateral
Agent indicating that an Event of Default has occurred. 
 [Signature Pages Follow] 

  
 -23- 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of
the date first above written. 
  

			
	AVANTOR, INC.,
	as a Grantor
		
	By:	 	 /s/ Mark Armstrong

		 	Name: Mark Armstrong
		 	Title: Chief Financial Officer and Treasurer
	
	VAIL HOLDCO SUB LLC,
	as a Grantor
		
	By:	 	 /s/ Douglas J. Pitts

		 	Name: Douglas J. Pitts
		 	Title: President and Corporate Controller
	
	AMRESCO, LLC,
	as a Grantor
		
	By:	 	 /s/ Douglas J. Pitts

		 	Name: Douglas J. Pitts
		 	Title: Vice President
	
	EPL PATHOLOGY ARCHIVES, LLC,
	as a Grantor
		
	By:	 	 /s/ Douglas J. Pitts

		 	Name: Douglas J. Pitts
		 	Title: Vice President
	
	INTEGRA COMPANIES, LLC,
	as a Grantor
		
	By:	 	 /s/ Douglas J. Pitts

		 	Name: Douglas J. Pitts
		 	Title: Vice President

  
 [Signature Page to
Security Agreement] 

 
			
	PAW BIOSCIENCE PRODUCTS, LLC,
	as a Grantor
		
	By:	 	 /s/ Douglas J. Pitts

		 	Name: Douglas J. Pitts
		 	Title: Vice President
	
	RELIABLE BIOPHARMACEUTICAL, LLC,
	as a Grantor
		
	By:	 	 /s/ Douglas J. Pitts

		 	Name: Douglas J. Pitts
		 	Title: Vice President
	
	STI COMPONENTS, LLC,
	as a Grantor
		
	By:	 	 /s/ Douglas J. Pitts

		 	Name: Douglas J. Pitts
		 	Title: Vice President
	
	TEK PRODUCTS, LLC,
	as a Grantor
		
	By:	 	 /s/ Douglas J. Pitts

		 	Name: Douglas J. Pitts
		 	Title: Vice President
	
	THERAPAK, LLC,
	as a Grantor
		
	By:	 	 /s/ Douglas J. Pitts

		 	Name: Douglas J. Pitts
		 	Title: Vice President

  
 [Signature Page to
Security Agreement] 

 
			
	VWR CHEMICALS, LLC,
	as a Grantor
		
	By:	 	 /s/ Douglas J. Pitts

		 	Name: Douglas J. Pitts
		 	Title: Vice President
	
	AVANTOR PERFORMANCE MATERIALS, LLC,
	as a Grantor
		
	By:	 	 /s/ Mark Armstrong

		 	Name: Mark Armstrong
		 	Title: Chief Financial Officer and Treasurer
	
	AVANTOR TOPCO SUB L.P.,
	as a Grantor
		
	By:	 	 /s/ Mark Armstrong

		 	Name: Mark Armstrong
		 	Title: Chief Financial Officer and Treasurer
	
	MEDISIL COMPANY LLC,
	as a Grantor
		
	By:	 	 /s/ Mark Armstrong

		 	Name: Mark Armstrong
		 	Title: Chief Financial Officer and Treasurer
	
	MOREHOUSE-COWLES, LLC,
	as a Grantor
		
	By:	 	 /s/ Mark Armstrong

		 	Name: Mark Armstrong
		 	Title: Chief Financial Officer and Treasurer

  
 [Signature Page to
Security Agreement] 

 
			
	NUSIL INVESTMENTS LLC,
	as a Grantor
		
	By:	 	 /s/ Mark Armstrong

		 	Name: Mark Armstrong
		 	Title: Chief Financial Officer and Treasurer
	
	NUSIL TECHNOLOGY LLC,
	as a Grantor
		
	By:	 	 /s/ Mark Armstrong

		 	Name: Mark Armstrong
		 	Title: Chief Financial Officer and Treasurer
	
	SITECH NUSIL, LLC,
	as a Grantor
		
	By:	 	 /s/ Mark Armstrong

		 	Name: Mark Armstrong
		 	Title: Chief Financial Officer and Treasurer
	
	TRELYST LLC,
	as a Grantor
		
	By:	 	 /s/ Mark Armstrong

		 	Name: Mark Armstrong
		 	Title: Chief Financial Officer and Treasurer
	
	VWR CORPORATION,
	as a Grantor
		
	By:	 	 /s/ Douglas J. Pitts

		 	Name: Douglas J. Pitts
		 	Title: Vice President and Corporate Controller

  
 [Signature Page to
Security Agreement] 

 
			
	VWR FUNDING, INC.,
	as a Grantor
		
	By:	 	 /s/ Douglas J. Pitts

		 	Name: Douglas J. Pitts
		 	Title: Vice President and Corporate Controller
	
	VWR INTERNATIONAL, LLC,
	as a Grantor
		
	By:	 	 /s/ Douglas J. Pitts

		 	Name: Douglas J. Pitts
		 	Title: Vice President and Corporate Controller
	
	VWR GLOBAL HOLDINGS, INC.,
	as a Grantor
		
	By:	 	 /s/ Douglas J. Pitts

		 	Name: Douglas J. Pitts
		 	Title: President
	
	APPLIED SILICONE COMPANY LLC,
	as a Grantor
		
	By:	 	 /s/ Joseph Braun

		 	Name: Joseph Braun
		 	Title: Chief Legal Officer and Secretary
	
	AVANTOR INTERMEDIATE HOLDINGS LLC,
	as a Grantor
		
	By:	 	 /s/ Douglas J. Pitts

		 	Name: Douglas J. Pitts
		 	Title: President and Corporate Controller

  
 [Signature Page to
Security Agreement] 

 
			
	AVANTOR PERFORMANCE MATERIALS INTERNATIONAL, LLC,
	as a Grantor
		
	By:	 	 /s/ Mark Armstrong

		 	Name: Mark Armstrong
		 	Title: President, Chief Financial Officer and Treasurer
	
	PURITAN PRODUCTS, INC.,
	as a Grantor
		
	By:	 	 /s/ Mark Armstrong

		 	Name: Mark Armstrong
		 	Title: President, Chief Financial Officer and Treasurer
	
	VWR MANAGEMENT SERVICES LLC,
	as a Grantor
		
	By:	 	 /s/ Douglas J. Pitts

		 	Name: Douglas J. Pitts
		 	Title: Vice President and Corporate Controller of VWR International LLC, its sole member
	
	NUSIL ACQUISITION CORP.,
	as a Grantor
		
	By:	 	 /s/ Mark Armstrong

		 	Name: Mark Armstrong
		 	Title: Chief Financial Officer and Treasurer

  
 [Signature Page to
Security Agreement] 

 
			
	GOLDMAN SACHS BANK USA,
	as Collateral Agent
		
	By:	 	 /s/ Charles D. Johnston

		 	Name: Charles D. Johnston
		 	Title: Authorized Signatory

  
 [Signature Page to
Security Agreement]EX-10.4

 Exhibit 10.4 

FIRST LIEN INTERCREDITOR AGREEMENT 

Among 
 AVANTOR, INC., 

VAIL HOLDCO SUB LLC, 
 the other
Grantors party hereto, 
 GOLDMAN SACHS BANK USA, 

as Collateral Agent for the Credit Agreement Secured Parties; 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., 

as Collateral Agent for the Indenture Secured Parties; 

and 
 each Additional Agent from
time to time party hereto 
 dated as of November 21, 2017 

 FIRST LIEN INTERCREDITOR AGREEMENT dated as of November 21, 2017 (as amended,
supplemented or otherwise modified from time to time, this “Agreement”), among Vail Holdco Sub LLC, a Delaware limited liability company (“Holdings”), Avantor, Inc., a Delaware corporation (the
“Borrower”), the other Grantors (as defined below) party hereto, Goldman Sachs Bank USA, as collateral agent for the Credit Agreement Secured Parties (as defined below) (in such capacity and together with its successors in such
capacity, the “Bank Collateral Agent”) and The Bank of New York Mellon Trust Company, N.A., as collateral agent for the Indenture Secured Parties (as defined below) (in such capacity and together with its successors in such
capacity, the “Notes Collateral Agent”) and each Additional Agent from time to time party hereto for the Additional First Lien Secured Parties of the Series with respect to which it is acting in such capacity. 

In consideration of the mutual agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Bank Collateral Agent (for itself and on behalf of the Credit Agreement Secured Parties), the Notes Collateral Agent (for itself and on behalf of the Indenture Secured Parties) and each Additional Agent (for itself and on
behalf of the Additional First Lien Secured Parties of the applicable Series) agree as follows: 
 ARTICLE I 

Definitions 
 SECTION 1.10
Certain Defined Terms. Capitalized terms used but not otherwise defined herein have the meanings set forth in the Credit Agreement and the Indenture, as applicable, with the Credit Agreement controlling in the event of discrepancies, or, if
defined in the New York UCC, the meanings specified therein. As used in this Agreement, the following terms have the meanings specified below: 

“Additional Agent” means the collateral agent and the administrative agent and/or trustee (as applicable) or any other
similar agent or Person under any Additional First Lien Documents, in each case, together with its successors in such capacity. 

“Additional First Lien Debt Facility” means one or more debt facilities, commercial paper facilities or indentures for which
the requirements of Section 5.13 of this Agreement have been satisfied, in each case with banks, other lenders or trustees, providing for revolving credit loans, term loans, letters of credit, notes or other borrowings, in each case, as
amended, restated, supplemented or otherwise modified, refinanced or replaced from time to time; provided that neither the Credit Agreement nor the Indenture shall constitute an Additional First Lien Debt Facility at any time. 

“Additional First Lien Documents” means, with respect to any Series of Additional First Lien Obligations, the notes, credit
agreements, indentures, security documents and other operative agreements evidencing or governing such Indebtedness, and each other agreement entered into for the purpose of securing any Series of Additional First Lien Obligations. 

“Additional First Lien Obligations” means, with respect to any Additional First Lien Debt Facility, (a) all principal
of, and interest (including, without limitation, any interest, fees, expenses and other amounts which accrue after the commencement of any Insolvency or Liquidation Proceeding, whether or not allowed or allowable as a claim in any such proceeding)
payable with respect to, such Additional First Lien Debt Facility, (b) all other amounts payable to the related Additional First Lien Secured Parties under the related Additional First Lien Documents and (c) any renewals of extensions of
the foregoing. 

  
 2 

 “Additional First Lien Secured Party” means, with respect to any Series of
Additional First Lien Obligations, the holders of such Additional First Lien Obligations, the Additional Agent with respect thereto, any trustee or agent or any other similar agent or Person therefor under any related Additional First Lien Documents
and the beneficiaries of each indemnification obligation undertaken by the Borrower or any Guarantor under any related Additional First Lien Documents. 

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

“Bank Collateral Agent” has the meaning assigned to such term in the preamble hereto. 

“Bank Security Agreement” means the “Security Agreement” as defined in the Credit Agreement. 

“Bankruptcy Case” has the meaning assigned to such term in Section 2.05(b). 

“Bankruptcy Code” means Title 11 of the United States Code, as amended. 

“Bankruptcy Law” means the Bankruptcy Code and any other federal, state, or foreign law for the relief of debtors, or any
arrangement, reorganization, insolvency, moratorium, assignment for the benefit of creditors, any other marshalling of the assets or liabilities of Holdings or any of its Subsidiaries, or similar law affecting creditors’ rights generally. 

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

“Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are
authorized or required by law to remain closed. 
 “Collateral” means all assets and properties subject to Liens created
pursuant to any First Lien Security Document to secure one or more Series of First Lien Obligations. 
 “Collateral Agent”
means (i) in the case of any Credit Agreement Obligations, the Bank Collateral Agent, (ii) in the case of the Indenture Obligations, the Notes Collateral Agent, and (iii) in the case of any Series of Additional First Lien Obligations
or Additional First Lien Secured Parties that become subject to this Agreement after the date hereof, the Additional Agent named for such Series in the applicable Joinder Agreement. 

“Company” has the meaning assigned to such term in the preamble hereto. 

“Controlling Collateral Agent” means, with respect to any Shared Collateral, (i) until the earlier of (x) the
Discharge of First Lien Obligations that are Credit Agreement Obligations and (y) the Non-Controlling Collateral Agent Enforcement Date, the Bank Collateral Agent and (ii) from and after the earlier
of (x) the Discharge of First Lien Obligations that are Credit Agreement Obligations and (y) the Non-Controlling Collateral Agent Enforcement Date, the Major
Non-Controlling Collateral Agent. 
 “Controlling Secured Parties” means, with
respect to any Shared Collateral, the Series of First Lien Secured Parties whose Collateral Agent is the Controlling Collateral Agent for such Shared Collateral. 

“Credit Agreement” means that certain Credit Agreement dated as of November 21, 2017, as amended, restated,
supplemented, increased or otherwise modified, refinanced or replaced from time to time, among Holdings, the Borrower, the lenders from time to time party thereto, Goldman Sachs Bank USA, as administrative agent, collateral agent, swing line lender
and an L/C Issuer, and the other parties thereto. 

  
 3 

 “Credit Agreement Obligations” means the “Secured Obligations” as
defined in the Credit Agreement. 
 “Credit Agreement Secured Parties” means the “Secured Parties” as
defined in the Credit Agreement. 
 “DIP Financing” has the meaning assigned to such term in Section 2.05(b). 

“DIP Financing Liens” has the meaning assigned to such term in Section 2.05(b). 

“DIP Lenders” has the meaning assigned to such term in Section 2.05(b). 

“Discharge” means, with respect to any Shared Collateral and any Series of First Lien Obligations, the date on which such
Series of First Lien Obligations is no longer secured by such Shared Collateral. The term “Discharged” shall have a corresponding meaning. 

“Discharge of First Lien Obligations” means, with respect to any Shared Collateral, the Discharge of the applicable First
Lien Obligations with respect to such Shared Collateral; provided that a Discharge of First Lien Obligations shall not be deemed to have occurred in connection with a Refinancing of such First Lien Obligations with additional First Lien
Obligations secured by such Shared Collateral under an Additional First Lien Document which has been designated in writing by the applicable Collateral Agent (under such First Lien Obligations so Refinanced) or by the Borrower, in each case, to each
other Collateral Agent as a “First Lien Obligation” for purposes of this Agreement. 
 “Event of Default” means
an “Event of Default” (or any other similarly defined term) as defined in any Secured Credit Document. 
 “First Lien
Obligations” means, collectively, (i) the Credit Agreement Obligations, (ii) the Indenture Obligations and (iii) each Series of Additional First Lien Obligations. 

“First Lien Secured Parties” means (i) the Credit Agreement Secured Parties, (ii) the Indenture Secured Parties and
(iii) the Additional First Lien Secured Parties with respect to each Series of Additional First Lien Obligations. 
 “First
Lien Security Documents” means the Bank Security Agreement, the other Collateral Documents (as defined in the Credit Agreement), the Notes Security Agreement, the other Security Documents (as defined in the Indenture) and each other
agreement entered into in favor of any Collateral Agent for the purpose of securing any Series of First Lien Obligations and the Other Intercreditor Agreements. 

“Grantors” means Holdings, the Borrower and each other Subsidiary of Holdings which has granted a security interest pursuant
to any First Lien Security Document to secure any Series of First Lien Obligations (including any Subsidiary that becomes a party to this Agreement as a Grantor as contemplated by Section 5.17). 

“Holdings” has the meaning assigned to such term in the preamble hereto. 

“Impairment” has the meaning assigned to such term in Section 1.03. 

  
 4 

 “Indenture” means that certain Indenture dated as of October 2, 2017,
among Avantor, Inc., a Delaware corporation, as the Issuer, and the Notes Collateral Agent, as such Indenture may be amended, restated, supplemented, increased or otherwise modified, refinanced or replaced. 

“Indenture Obligations” means the “Secured Obligations” as defined in the Notes Security Agreement. 

“Indenture Secured Parties” means the “Secured Parties” as defined in the Notes Security Agreement. 

“Insolvency or Liquidation Proceeding” means: 

(1) any case or proceeding commenced by or against the Borrower or any other Grantor under any Bankruptcy Law, any other
proceeding for the reorganization, recapitalization or adjustment or marshalling of the assets or liabilities of the Borrower or any other Grantor, any receivership or assignment for the benefit of creditors relating to the Borrower or any other
Grantor or any similar case or proceeding relative to the Borrower or any other Grantor or its creditors, as such, in each case whether or not voluntary; 

(2) any liquidation, dissolution, marshalling of assets or liabilities or other winding up of or relating to the Borrower or
any other Grantor, in each case whether or not voluntary and whether or not involving bankruptcy or insolvency; or 
 (3) any
other proceeding of any type or nature in which substantially all claims of creditors of the Borrower or any other Grantor are determined and any payment or distribution is or may be made on account of such claims. 

“Intervening Creditor” shall have the meaning assigned to such term in Section 2.01(a). 

“Joinder Agreement” means a supplement to this Agreement in the form of Annex I hereof required to be delivered by an
Additional Agent to the Controlling Collateral Agent pursuant to Section 5.13 hereto in order to establish an additional Series of Additional First Lien Obligations and become Additional First Lien Secured Parties hereunder. 

“Major Non-Controlling Collateral Agent” means, with respect to any Shared
Collateral, the Collateral Agent (other than the Bank Collateral Agent) of the Series of First Lien Obligations that constitutes the largest outstanding principal amount of any then outstanding Series of First Lien Obligations (excluding the Series
of Credit Agreement Obligations) with respect to such Shared Collateral, but solely to the extent that such Series of First Lien Obligations has a larger aggregate principal amount than the Series of Credit Agreement Obligations then outstanding.

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

“Non-Controlling Collateral Agent” means, at any time with respect to any Shared
Collateral, any Collateral Agent that is not the Controlling Collateral Agent at such time with respect to such Shared Collateral. 

  
 5 

 “Non-Controlling Collateral Agent
Enforcement Date” means, with respect to any Non-Controlling Collateral Agent, the date which is 90 days (throughout which 90 day period such Non-Controlling
Collateral Agent was the Major Non-Controlling Collateral Agent) after the occurrence of both (i) an Event of Default under and as defined in the Secured Credit Documents under which such Non-Controlling Collateral Agent is the Major Non-Controlling Collateral Agent and (ii) the Controlling Collateral Agent and each other Collateral Agent’s receipt of
written notice from such Non-Controlling Collateral Agent certifying that (x) such Non-Controlling Collateral Agent is the Major
Non-Controlling Collateral Agent and that an Event of Default under and as defined in the Secured Credit Documents under which such Non-Controlling Collateral Agent is
the Collateral Agent has occurred and is continuing and (y) the First Lien Obligations of the Series with respect to which such Non-Controlling Collateral Agent is the Collateral Agent are currently due
and payable in full (whether as a result of acceleration thereof or otherwise) in accordance with the terms of the applicable Secured Credit Documents; provided that the Non-Controlling Collateral Agent
Enforcement Date shall be stayed and shall not occur and shall be deemed not to have occurred with respect to any Shared Collateral (1) at any time the Controlling Collateral Agent has commenced and is diligently pursuing any enforcement action
with respect to such Shared Collateral or (2) at any time the Grantor which has granted a security interest in such Shared Collateral is then a debtor under or with respect to (or otherwise subject to) any Insolvency or Liquidation Proceeding.

 “Non-Controlling Secured Parties” means, with respect to any Shared Collateral,
the First Lien Secured Parties which are not Controlling Secured Parties with respect to such Shared Collateral. 
 “Notes
Collateral Agent” has the meaning assigned to such term in the preamble hereto. 
 “Notes Security Agreement”
means the “Security Agreement” as defined in the Indenture. 
 “Other Intercreditor Agreements” means, if in
effect, any Second Lien Intercreditor Agreement. 
 “Possessory Collateral” means any Shared Collateral in the possession
of any Collateral Agent (or its agents or bailees), to the extent that possession thereof perfects a Lien thereon under the Uniform Commercial Code of any jurisdiction. Possessory Collateral includes, without limitation, any Certificated Securities,
Promissory Notes, Instruments, and Chattel Paper, in each case, delivered to or in the possession of the Collateral Agent under the terms of the First Lien Security Documents. 

“Post-Petition Interest” means any interest or entitlement to fees or expenses or other charges that accrues after the
commencement of any Insolvency or Liquidation Proceeding, whether or not allowed or allowable in any such proceeding. 

“Proceeds” has the meaning assigned to such term in Section 2.01(a). 

“Refinance” means, in respect of any Indebtedness, to refinance, extend, renew, defease, amend, increase, modify, supplement,
restructure, refund, replace or repay, or to issue other Indebtedness or enter alternative financing arrangements, in exchange or replacement for such Indebtedness (in whole or in part), including by adding or replacing lenders, creditors, agents,
borrowers and/or guarantors, and including in each case, but not limited to, after the original instrument giving rise to such Indebtedness has been terminated and including, in each case, through any credit agreement, indenture or other agreement.
“Refinanced” and “Refinancing” have correlative meanings. 
 “Second Lien Intercreditor
Agreement” means any intercreditor agreement executed in connection with any transaction requiring such agreement to be executed pursuant to the terms of the Credit Agreement. 

  
 6 

 “Secured Credit Document” means (i) the Credit Agreement and each
other Loan Document (as defined in the Credit Agreement), (ii) the Indenture, the Notes (as defined in the Indenture), the Notes Security Agreement and each other Security Document (as defined in the Indenture) and (iii) each Additional First
Lien Document. 
 “Senior Class Debt” shall have the meaning assigned to such term in Section 5.13.

 “Senior Class Debt Parties” shall have the meaning assigned to such term in Section 5.13. 

“Senior Class Debt Representative” shall have the meaning assigned to such term in Section 5.13. 

“Senior Lien” means the Liens on the Collateral in favor of the First Lien Secured Parties under the First Lien Security
Documents. 
 “Series” means (a) with respect to the First Lien Secured Parties, each of (i) the Credit Agreement
Secured Parties (in their capacities as such), (ii) the Indenture Secured Parties (in their capacity as such) and (iii) the Additional First Lien Secured Parties that become subject to this Agreement after the date hereof that are represented
by a common Collateral Agent (in its capacity as such for such Additional First Lien Secured Parties) and (b) with respect to any First Lien Obligations, each of (i) the Credit Agreement Obligations, (ii) the Indenture Obligations and
(iii) the Additional First Lien Obligations incurred pursuant to any Additional First Lien Debt Facility or any related Additional First Lien Documents, which pursuant to any Joinder Agreement, are to be represented hereunder by a common
Collateral Agent (in its capacity as such for such Additional First Lien Obligations). 
 “Shared Collateral” means, at any
time, Collateral in which the holders of two or more Series of First Lien Obligations (or their respective Collateral Agents) hold a valid and perfected security interest at such time. If more than two Series of First Lien Obligations are
outstanding at any time and the holders of less than all Series of First Lien Obligations hold a valid and perfected security interest in any Collateral at such time, then such Collateral shall constitute Shared Collateral for those Series of First
Lien Obligations that hold a valid and perfected security interest in such Collateral at such time and shall not constitute Shared Collateral for any Series which does not have a valid and perfected security interest in such Collateral at such time.

 “Uniform Commercial Code” or “UCC” means the New York UCC, or the Uniform Commercial Code (or any
similar or comparable legislation) of another jurisdiction, to the extent it may be required to apply to any item or items of Collateral. 

SECTION 1.02 Terms Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the terms
defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and “including” shall be deemed to be followed by the phrase
“without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise, (i) any definition of or reference to any agreement,
instrument, other document, statute or regulation herein shall be construed as referring to such agreement, instrument, other document, statute or regulation as from time to time amended, supplemented or otherwise modified, (ii) any reference
herein to any Person shall be construed to include such Person’s successors and assigns, but shall not be deemed to include the subsidiaries of such Person unless express reference is made to such subsidiaries, (iii) the words
“herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (iv) all references herein to Articles,

  
 7 

 
Sections and Annexes shall be construed to refer to Articles, Sections and Annexes of this Agreement, (v) unless otherwise expressly qualified herein, the words “asset” and
“property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights and (vi) the term “or” is
not exclusive. 
 SECTION 1.03 Impairments. It is the intention of the First Lien Secured Parties of each Series that the holders of
First Lien Obligations of such Series (and not the First Lien Secured Parties of any other Series) bear the risk of (i) any determination by a court of competent jurisdiction that (x) any of the First Lien Obligations of such Series are
unenforceable under applicable law or are subordinated to any other obligations (other than another Series of First Lien Obligations), (y) any of the First Lien Obligations of such Series do not have an enforceable security interest in any of the
Collateral securing any other Series of First Lien Obligations and/or (z) any intervening security interest exists securing any other obligations (other than another Series of First Lien Obligations) on a basis ranking prior to the security
interest of such Series of First Lien Obligations but junior to the security interest of any other Series of First Lien Obligations or (ii) the existence of any Collateral for any other Series of First Lien Obligations that is not Shared
Collateral (any such condition referred to in the foregoing clauses (i) or (ii) with respect to any Series of First Lien Obligations, an “Impairment” of such Series); provided that the existence of a maximum claim with
respect to Mortgaged Properties (as defined in the Credit Agreement) which applies to all First Lien Obligations shall not be deemed to be an Impairment of any Series of First Lien Obligations. In the event of any Impairment with respect to any
Series of First Lien Obligations, the results of such Impairment shall be borne solely by the holders of such Series of First Lien Obligations, and the rights of the holders of such Series of First Lien Obligations (including, without limitation,
the right to receive distributions in respect of such Series of First Lien Obligations pursuant to Section 2.01) set forth herein shall be modified to the extent necessary so that the effects of such Impairment are borne solely by the holders
of the Series of such First Lien Obligations subject to such Impairment. Additionally, in the event the First Lien Obligations of any Series are modified pursuant to applicable law (including, without limitation, pursuant to Section 1129 of the
Bankruptcy Code), any reference to such First Lien Obligations or the First Lien Documents governing such First Lien Obligations shall refer to such obligations or such documents as so modified. 

ARTICLE II 
 Priorities and
Agreements with Respect to Shared Collateral 
 SECTION 2.01 Priority of Claims. 

(a) Anything contained herein or in any of the Secured Credit Documents to the contrary notwithstanding (but subject to Section 1.03), if
an Event of Default has occurred and is continuing, and the Controlling Collateral Agent is taking action to enforce rights in respect of any Shared Collateral, or any distribution is made in respect of any Shared Collateral in any Insolvency or
Liquidation Proceeding of the Borrower or any other Grantor (including any adequate protection payments) or any First Lien Secured Party receives any payment pursuant to any intercreditor agreement (other than this Agreement, but including the Other
Intercreditor Agreements) with respect to any Shared Collateral, the proceeds of any sale, collection or other liquidation of any such Shared Collateral by any Collateral Agent or any First Lien Secured Party and proceeds of any such distribution or
payment (all such payments, distributions, proceeds of any sale, collection or other liquidation of any Shared Collateral and all proceeds of any such distribution being collectively referred to as “Proceeds”), shall, be applied
(i) FIRST, to the payment of all amounts owing to each Collateral Agent (in its capacity as such) pursuant to the terms of any Secured Credit Document, (ii) SECOND, subject to Section 1.03, to the payment in full of the First Lien
Obligations of each Series on a ratable basis, with such Proceeds to be applied to the 

  
 8 

 
First Lien Obligations of a given Series in accordance with the terms of the applicable Secured Credit Documents; provided that following the commencement of any Insolvency or Liquidation
Proceeding with respect to any Grantor, solely as among the holders of First Lien Obligations and solely for purposes of this clause SECOND and not any Secured Credit Documents, in the event the value of the Shared Collateral is not sufficient for
the entire amount of Post-Petition Interest on the First Lien Obligations to be allowed under Section 506(a) and (b) of the Bankruptcy Code or any other applicable provision of the Bankruptcy Code or other Bankruptcy Law in such Insolvency
or Liquidation Proceeding, the amount of First Lien Obligations of each Series of First Lien Obligations shall include only the maximum amount of Post-Petition Interest on the First Lien Obligations allowable under Section 506(a) and
(b) of the Bankruptcy Code or any other applicable provision of the Bankruptcy Code or other Bankruptcy Law in such Insolvency or Liquidation Proceeding and (iii) THIRD, after the Discharge of all First Lien Obligations, to the Borrower
and the other Grantors or their successors or assigns, as their interests may appear, or to whosoever may be lawfully entitled to receive the same pursuant to the Second Lien Intercreditor Agreement, if in effect, or otherwise, or as a court of
competent jurisdiction may direct. Notwithstanding the foregoing, with respect to any Shared Collateral for which a third party (other than a First Lien Secured Party) has a lien or security interest that is junior in priority to the security
interest of any Series of First Lien Obligations, after giving effect to the Second Lien Intercreditor Agreement, if applicable, but senior (as determined by appropriate legal proceedings in the case of any dispute) to the security interest of any
other Series of First Lien Obligations (such third party an “Intervening Creditor”), the value of any Shared Collateral or Proceeds which are allocated to such Intervening Creditor shall be deducted on a ratable basis solely from
the Shared Collateral or Proceeds to be distributed in respect of the Series of First Lien Obligations with respect to which such Impairment exists. If, despite the provisions of this Section 2.01(a), any First Lien Secured Party shall receive
any payment or other recovery in excess of its portion of payments on account of the First Lien Obligations to which it is then entitled in accordance with this Section 2.01(a), such First Lien Secured Party shall hold such payment or recovery
in trust for the benefit of all First Lien Secured Parties for distribution in accordance with this Section 2.01(a). 
 (b) It is
acknowledged that the First Lien Obligations of any Series may, subject to the limitations set forth in the then extant Secured Credit Documents, be increased, extended, renewed, replaced, restated, supplemented, restructured, repaid, refunded,
Refinanced or otherwise amended or modified from time to time, all without affecting the priorities and order of application of Proceeds set forth in Section 2.01(a) or the other provisions of this Agreement defining the relative rights of the
First Lien Secured Parties of any Series. 
 (c) Notwithstanding the date, time, method, manner or order of grant, attachment or perfection
of any Liens securing any Series of First Lien Obligations granted on the Shared Collateral and notwithstanding any provision of the Uniform Commercial Code of any jurisdiction, or any other applicable law or the Secured Credit Documents or any
defect or deficiencies in the Liens securing the First Lien Obligations of any Series or any other circumstance whatsoever (but, in each case, subject to Section 1.03), each First Lien Secured Party hereby agrees that (i) the Liens
securing each Series of First Lien Obligations on any Shared Collateral shall be of equal priority and (ii) the benefits and proceeds of the Shared Collateral shall be shared among the First Lien Secured Parties as provided herein. 

SECTION 2.02 Actions with Respect to Shared Collateral; Prohibition on Contesting Liens. 

(a) With respect to any Shared Collateral, (i) only the Controlling Collateral Agent shall act or refrain from acting with respect to the
Shared Collateral (including with respect to any intercreditor agreement with respect to any Shared Collateral) and (ii) no Non-Controlling Collateral Agent or other
Non-Controlling Secured Party shall or shall instruct the Controlling Collateral Agent to, 

  
 9 

 
commence any judicial or nonjudicial foreclosure proceedings with respect to, seek to have a trustee, receiver, liquidator or similar official appointed for or over, attempt any action to take
possession of, exercise any right, remedy or power with respect to, or otherwise take any action to enforce its security interest in or realize upon, or take any other action available to it in respect of, any Shared Collateral (including with
respect to any intercreditor agreement with respect to any Shared Collateral), whether under any First Lien Security Document, applicable law or otherwise, it being agreed that only the Controlling Collateral Agent shall be entitled to take any such
actions or exercise any such remedies with respect to Shared Collateral; provided that, notwithstanding the foregoing, (i) in any Insolvency or Liquidation Proceeding, any Collateral Agent or any other First Lien Secured Party may file a
proof of claim or statement of interest with respect to the First Lien Obligations owed to the First Lien Secured Parties; (ii) any Collateral Agent or any other First Lien Secured Party may take any action to preserve or protect (but not
enforce) the validity and enforceability of the Liens granted in favor of First Lien Secured Parties, provided that no such action is, or could reasonably be expected to be, (A) adverse to the Liens granted in favor of the Controlling Secured
Parties or the rights of the Controlling Collateral Agent or any other Controlling Secured Parties to exercise remedies in respect thereof or (B) otherwise inconsistent with the terms of this Agreement; and (iii) any Collateral Agent or
any other First Lien Secured Party may file any responsive or defensive pleadings in opposition to any motion, claim, adversary proceeding or other pleading made by any Person objecting to or otherwise seeking the disallowance of the claims or Liens
of such First Lien Secured Party, including any claims secured by the Shared Collateral, in each case, to the extent not inconsistent with the terms of this Agreement. Notwithstanding the equal priority of the Liens with respect to the Shared
Collateral, the Controlling Collateral Agent may deal with the Shared Collateral as if such Controlling Collateral Agent had a senior Lien on such Collateral. No Non-Controlling Collateral Agent or Non-Controlling Secured Party will contest, protest or object to any foreclosure proceeding or action brought by the Controlling Collateral Agent or any Controlling Secured Party or any other exercise by the
Controlling Collateral Agent or any Controlling Secured Party of any rights and remedies relating to the Shared Collateral. The foregoing shall not be construed to limit the rights and priorities of any First Lien Secured Party or Collateral Agent
with respect to any Collateral not constituting Shared Collateral. 
 (b) Each Authorized Representative and the First Lien Secured Parties
for which it is acting hereunder agree to be bound by the provisions of this Agreement. 
 (c) Each of the First Lien Secured Parties agrees
that it will not (and hereby waives any right to) contest or support any other Person in contesting, in any proceeding (including any Insolvency or Liquidation Proceeding), the perfection, priority, validity, attachment or enforceability of a Lien
held by or on behalf of any of the First Lien Secured Parties in all or any part of the Collateral, or the provisions of this Agreement; provided that nothing in this Agreement shall be construed to prevent or impair the rights of any
Collateral Agent or any other First Lien Secured Party to enforce this Agreement. 
 SECTION 2.03 No Interference; Payment Over. 

(a) Each First Lien Secured Party agrees that (i) it will not take or cause to be taken any action the purpose or intent of which is, or
could be, to interfere, hinder or delay, in any manner, whether by judicial proceedings or otherwise, any sale, transfer or other disposition of the Shared Collateral by the Controlling Collateral Agent, (ii) it will not institute in any
Insolvency or Liquidation Proceeding or other proceeding any claim against the Controlling Collateral Agent or any other First Lien Secured Party seeking damages from or other relief by way of specific performance, instructions or otherwise with
respect to any Shared Collateral, and none of the Controlling Collateral Agent or any other First Lien Secured Party shall be liable for any action taken or omitted to be taken by the Controlling Collateral Agent or other First Lien Secured Party
with respect to any Shared Collateral in accordance with the provisions of this Agreement, (iii) it will not seek, and hereby waives any right, to have any 

  
 10 

 
Shared Collateral or any part thereof marshaled upon any foreclosure or other disposition of such Collateral and (iv) it will not attempt, directly or indirectly, whether by judicial
proceedings or otherwise, to challenge the enforceability of any provision of this Agreement; provided that nothing in this Agreement shall be construed to prevent or impair the rights of any Collateral Agent or any other First Lien Secured
Party to enforce this Agreement. 
 (b) Each First Lien Secured Party hereby agrees that if it shall obtain possession of any Shared
Collateral or shall realize any proceeds or payment in respect of any such Shared Collateral, pursuant to any First Lien Security Document or by the exercise of any rights available to it under applicable law or in any Insolvency or Liquidation
Proceeding or through any other exercise of remedies (including pursuant to any intercreditor agreement), at any time prior to the Discharge of each of the First Lien Obligations, then it shall hold such Shared Collateral, proceeds or payment in
trust for the other First Lien Secured Parties that have a security interest in such Shared Collateral and promptly transfer such Shared Collateral, Proceeds or payment, as the case may be, to the Controlling Collateral Agent, to be distributed in
accordance with the provisions of Section 2.01 hereof. 
 SECTION 2.04 Automatic Release of Liens; Amendments to First Lien Security
Documents. 
 (a) If, at any time the Controlling Collateral Agent forecloses upon or otherwise exercises remedies against any Shared
Collateral resulting in a sale or disposition thereof, then (whether or not any Insolvency or Liquidation Proceeding is pending at the time) the Liens in favor of each other Collateral Agent for the benefit of each Series of First Lien Secured
Parties upon such Shared Collateral will automatically be released and discharged; provided that any proceeds of any Shared Collateral realized therefrom shall be applied pursuant to Section 2.01 hereof. 

(b) Each First Lien Secured Party agrees that each Collateral Agent may enter into any amendment to any First Lien Security Document that does
not violate this Agreement. 
 (c) Each Collateral Agent agrees to execute and deliver (at the sole cost and expense of the Grantors) all
such authorizations and other instruments as shall reasonably be requested by the Controlling Collateral Agent to evidence and confirm any release of Shared Collateral provided for in this Section. 

SECTION 2.05. Certain Agreements with Respect to Bankruptcy or Insolvency Proceedings. 

(a) This Agreement shall continue in full force and effect notwithstanding the commencement of any Insolvency or Liquidation Proceeding,
including any case or proceeding under the Bankruptcy Code or any Bankruptcy Law or similar law by or against Holdings or any of its Subsidiaries. 

(b) If the Borrower and/or any other Grantor shall become subject to a case (a “Bankruptcy Case”) under the Bankruptcy Code or
any Bankruptcy Law and shall, as debtor(s)-in-possession, move for approval of financing (“DIP Financing”) to be provided by one or more lenders (the
“DIP Lenders”) under Section 364 of the Bankruptcy Code or any equivalent provision of any other Bankruptcy Law and/or the use of cash collateral under Section 363 of the Bankruptcy Code or any equivalent provision of any
other Bankruptcy Law, each First Lien Secured Party agrees that it will raise no objection to any such financing or to the Liens on the Shared Collateral securing the same (“DIP Financing Liens”) or to any use of cash
collateral that constitutes Shared Collateral unless the Controlling Collateral Agent or any Controlling Secured Party with respect to such Shared Collateral shall then oppose or object to such DIP Financing or such DIP Financing Liens and/or use of
cash 

  
 11 

 
collateral (and (i) to the extent that such DIP Financing Liens are senior to the Liens on any such Shared Collateral for the benefit of the Controlling Secured Parties, each Non-Controlling Secured Party will subordinate its Liens with respect to such Shared Collateral on the same terms as the Liens of the Controlling Secured Parties (other than any Liens of any First Lien Secured
Parties constituting DIP Financing Liens) are subordinated thereto, and (ii) to the extent that such DIP Financing Liens rank pari passu with the Liens on any such Shared Collateral granted to secure the First Lien Obligations of the
Controlling Secured Parties, each Non-Controlling Secured Party will confirm the priorities with respect to such Shared Collateral as set forth herein), in each case so long as (A) the First Lien Secured
Parties of each Series retain the benefit of their Liens on all such Shared Collateral pledged to the DIP Lenders, including proceeds thereof arising after the commencement of such proceeding, with the same priority vis-a-vis all the other First Lien Secured Parties (other than any Liens of the First Lien Secured Parties constituting DIP Financing Liens) as existed prior to the commencement of the Bankruptcy Case,
(B) the First Lien Secured Parties of each Series are granted Liens on any additional collateral pledged to any First Lien Secured Parties as adequate protection or otherwise in connection with such DIP Financing and/or use of cash collateral,
with the same priority vis-a-vis the First Lien Secured Parties (other than any Liens of the First Lien Secured Parties constituting DIP Financing Liens) as set forth in
this Agreement, (C) if any amount of such DIP Financing and/or cash collateral is applied to repay any of the First Lien Obligations, such amount is applied pursuant to Section 2.01 of this Agreement, and (D) if any First Lien Secured
Parties are granted adequate protection with respect to First Lien Obligations subject hereto, including in the form of periodic payments, in connection with such DIP Financing and/or use of cash collateral, the proceeds of such adequate protection
are applied pursuant to Section 2.01 of this Agreement; provided that the First Lien Secured Parties of each Series shall have a right to object to the grant of a Lien to secure the DIP Financing over any Collateral subject to Liens in
favor of the First Lien Secured Parties of such Series or its Collateral Agent that shall not constitute Shared Collateral; and provided, further, that the First Lien Secured Parties receiving adequate protection shall not object to
any other First Lien Secured Party receiving adequate protection comparable to any adequate protection granted to such First Lien Secured Parties in connection with a DIP Financing and/or use of cash collateral. 

SECTION 2.06. Reinstatement. In the event that any of the First Lien Obligations shall be paid in full and such payment or any part
thereof shall subsequently, for whatever reason (including an order or judgment for disgorgement or avoidance of a preference or fraudulent transfer under the Bankruptcy Code or other applicable Bankruptcy Law, or any similar law, or the settlement
of any claim in respect thereof), be required to be returned or repaid, the terms and conditions of this Article II shall be fully applicable thereto until all such First Lien Obligations shall again have been paid in full in cash. 

SECTION 2.07. Insurance. As between the First Lien Secured Parties, the Controlling Collateral Agent shall have the right to adjust or
settle any insurance policy or claim covering or constituting Shared Collateral in the event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding affecting the Shared Collateral. 

SECTION 2.08. Refinancings. The First Lien Obligations of any Series may be Refinanced, in whole or in part, in each case, without
notice to, or the consent (except to the extent a consent is otherwise required to permit the Refinancing transaction under any Secured Credit Document) of any First Lien Secured Party of any other Series, all without affecting the priorities
provided for herein or the other provisions hereof; provided that the Collateral Agent of the holders of any such Refinancing indebtedness shall have executed a Joinder Agreement on behalf of the holders of such Refinancing indebtedness. 

  
 12 

 SECTION 2.09. Possessory Collateral Agent as Gratuitous Bailee for Perfection. 

(a) The Controlling Collateral Agent agrees to hold any Shared Collateral constituting Possessory Collateral that is part of the Shared
Collateral in its possession or control (or in the possession or control of its agents or bailees) as gratuitous bailee for the benefit of each other First Lien Secured Party and any assignee solely for the purpose of perfecting the security
interest granted in such Possessory Collateral, if any, pursuant to the applicable First Lien Security Documents, in each case, subject to the terms and conditions of this Section 2.09; provided that at any time after the Discharge of
the First Lien Obligations of the Series for which the Controlling Collateral Agent is acting, the Controlling Collateral Agent shall (at the sole cost and expense of the Grantors), promptly deliver all Possessory Collateral to the Controlling
Collateral Agent (after giving effect to the Discharge of such First Lien Obligations) together with any necessary endorsements reasonably requested by the Controlling Collateral Agent (or make such other arrangements as shall be reasonably
requested by the Controlling Collateral Agent to allow the Controlling Collateral Agent to obtain control of such Possessory Collateral). Pending delivery to the Controlling Collateral Agent, each other Collateral Agent agrees to hold any Shared
Collateral constituting Possessory Collateral, from time to time in its possession, as gratuitous bailee for the benefit of each other First Lien Secured Party and any assignee, solely for the purpose of perfecting the security interest granted in
such Possessory Collateral, if any, pursuant to the applicable First Lien Security Documents, in each case, subject to the terms and conditions of this Section 2.09. 

(b) The duties or responsibilities of the Controlling Collateral Agent and each other Collateral Agent under this Section 2.09 shall be
limited solely to holding any Shared Collateral constituting Possessory Collateral as gratuitous bailee for the benefit of each other First Lien Secured Party for purposes of perfecting the Lien held by such First Lien Secured Parties therein. 

ARTICLE III 
 Existence and
Amounts of Liens and Obligations 
 SECTION 3.01. Determinations with Respect to Amounts of Liens and Obligations. Whenever any
Collateral Agent shall be required, in connection with the exercise of its rights or the performance of its obligations hereunder, to determine the existence or amount of any First Lien Obligations of any Series, or the Shared Collateral subject to
any Lien securing the First Lien Obligations of any Series, it may request that such information be furnished to it in writing by each other Collateral Agent and shall be entitled to make such determination on the basis of the information so
furnished; provided, however, that if any Collateral Agent shall fail or refuse reasonably promptly to provide the requested information, the requesting Collateral Agent shall be entitled to make any such determination by such method
as it may, in the exercise of its good faith judgment, determine, including by reliance upon a certificate of the Borrower. Each Collateral Agent may rely conclusively, and shall be fully protected in so relying, on any determination made by it in
accordance with the provisions of the preceding sentence (or as otherwise directed by a court of competent jurisdiction) and shall have no liability to any Grantor, any First Lien Secured Party or any other Person as a result of such determination.

  
 13 

 ARTICLE IV 

The Controlling Collateral Agent 

SECTION 4.01. Appointment and Authority. 

(a) Each of the First Lien Secured Parties hereby irrevocably appoints and authorizes the Controlling Collateral Agent to take such actions on
its behalf and to exercise such powers as are delegated to the Controlling Collateral Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. In this connection, the Controlling Collateral Agent and
any co-agents, sub-agents and attorneys-in-fact appointed by the Controlling Collateral
Agent pursuant to the applicable Senior Credit Documents for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under any of the First Lien Security Documents, or for exercising any rights and remedies
thereunder, shall be entitled to the benefits of all provisions of Article IX of the Credit Agreement and the equivalent provision of the Indenture and the Notes Security Agreement and any Additional First Lien Document (as though such co-agents, sub-agents and attorneys-in-fact were the “Collateral Agent” named
therein) as if set forth in full herein with respect thereto. Without limiting the foregoing, each of the First Lien Secured Parties, and each Collateral Agent, hereby agrees to provide such cooperation and assistance as may be reasonably requested
by the Controlling Collateral Agent to facilitate and effect actions taken or intended to be taken by the Controlling Collateral Agent pursuant to this Article IV, such cooperation to include execution and delivery of notices, instruments and other
documents as are reasonably deemed necessary by the Controlling Collateral Agent to effect such actions, and joining in any action, motion or proceeding initiated by the Controlling Collateral Agent for such purposes. 

(b) Each Non-Controlling Secured Party acknowledges and agrees that the Controlling Collateral Agent
shall be entitled, for the benefit of the First Lien Secured Parties, to sell, transfer or otherwise dispose of or deal with any Shared Collateral as provided herein and in the First Lien Security Documents, without regard to any rights to which the
Non-Controlling Secured Parties would otherwise be entitled as a result of First Lien Obligations. Without limiting the foregoing, each Non-Controlling Secured Party
agrees that none of the Controlling Collateral Agent or any other First Lien Secured Party shall have any duty or obligation first to marshal or realize upon any type of Shared Collateral (or any other Collateral securing any of the First Lien
Obligations), or to sell, dispose of or otherwise liquidate all or any portion of such Shared Collateral (or any other Collateral securing any First Lien Obligations), in any manner that would maximize the return to the Non-Controlling Secured Parties, notwithstanding that the order and timing of any such realization, sale, disposition or liquidation may affect the amount of proceeds actually received by the Non-Controlling Secured Parties from such realization, sale, disposition or liquidation. Each of the First Lien Secured Parties waives any claim it may now or hereafter have against the Controlling Collateral Agent
or the Collateral Agent for any other Series of First Lien Obligations or any other First Lien Secured Party of any other Series arising out of (i) any actions that do not violate this Agreement which any Collateral Agent or any First Lien
Secured Party takes or omits to take (including, actions with respect to the creation, perfection or continuation of Liens on any Collateral, actions with respect to the foreclosure upon, sale, release or depreciation of, or failure to realize upon,
any of the Collateral and actions with respect to the collection of any claim for all or any part of the First Lien Obligations from any account debtor, guarantor or any other party) in accordance with the First Lien Security Documents or any other
agreement related thereto or to the collection of the First Lien Obligations or the valuation, use, protection or release of any security for the First Lien Obligations, (ii) any election by any Collateral Agent or any holders of First Lien
Obligations, in any Insolvency or Liquidation Proceeding, of the application of Section 1111(b) of the Bankruptcy Code or any equivalent provision of any other Bankruptcy Law or (iii) subject to Section 2.05, any borrowing by, or
grant of a security interest or administrative expense priority under Section 364 of the Bankruptcy Code or any equivalent provision of any other Bankruptcy Law by, any Grantor or any of its Subsidiaries, as debtor-in-possession. 

  
 14 

 SECTION 4.02. Rights as a First Lien Secured Party. 

(a) The Person serving as the Controlling Collateral Agent hereunder shall have the same rights and powers in its capacity as a First Lien
Secured Party under any Series of First Lien Obligations that it holds as any other First Lien Secured Party of such Series and may exercise the same as though it were not the Controlling Collateral Agent and the term “First Lien Secured
Party” or “First Lien Secured Parties” or (as applicable) “Credit Agreement Secured Party”, “Credit Agreement Secured Parties,” “Indenture Secured Party,” “Indenture Secured Parties,”
“Additional First Lien Secured Party” or “Additional First Lien Secured Parties” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Controlling Collateral Agent
hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Grantors or any
Subsidiary or other Affiliate thereof as if such Person were not the Controlling Collateral Agent hereunder and without any duty to account therefor to any other First Lien Secured Party. 

SECTION 4.03. Exculpatory Provisions. The Controlling Collateral Agent shall not have any duties or obligations except those expressly
set forth herein. Without limiting the generality of the foregoing, the Controlling Collateral Agent: 
 (i) shall not be
subject to any fiduciary or other implied duties, regardless of whether an Event of Default has occurred and is continuing; 

(ii) shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights
and powers expressly contemplated hereby; provided that the Controlling Collateral Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Controlling Collateral Agent to liability or
that is contrary to this Agreement or applicable law; 
 (iii) shall not, except as expressly set forth herein, have any duty
to disclose, and shall not be liable for the failure to disclose, any information relating to a Grantor or any of its Affiliates that is communicated to or obtained by the Person serving as the Controlling Collateral Agent or any of its Affiliates
in any capacity; 
 (iv) shall not be liable for any action taken or not taken by it (1) in the absence of its own gross
negligence or willful misconduct or (2) in reliance on a certificate of an authorized officer of the Borrower stating that such action is permitted by the terms of this Agreement. The Controlling Collateral Agent shall be deemed not to have
knowledge of any Event of Default under any Series of First Lien Obligations unless and until notice describing such Event Default and referencing applicable agreement is given to the Controlling Collateral Agent; 

(v) shall not be responsible for or have any duty to ascertain or inquire into (1) any statement, warranty or
representation made in or in connection with this Agreement or any other First Lien Security Document, (2) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith,
(3) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default or Event of Default, (4) the validity, enforceability, sufficiency,
effectiveness or genuineness of this Agreement, any other First Lien Security Document or any other agreement, instrument or document, or the creation, perfection or priority of any Lien purported to be created by the First Lien Security Documents,
(5) the value, existence, genuineness or the sufficiency of any Collateral for any Series of First Lien Obligations, or (6) the satisfaction of any condition set forth in any Secured Credit Document, other than to confirm receipt of items
expressly required to be delivered to the Controlling Collateral Agent; 

  
 15 

 (vi) need not segregate money held hereunder from other funds except to the
extent required by law. The Controlling Collateral Agent shall be under no liability for interest on any money received by it hereunder except as otherwise agreed in writing; 

(vii) may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through
agents, attorneys, accountants, appraisers or other experts or advisors selected by it with due care as it may reasonably require and shall not be responsible for any misconduct or negligence on the part of any of them; 

(viii) may conclusively rely upon, and shall not incur any liability for relying upon, any certificate, notice or other
document (including any facsimile) reasonably believe by it to be genuine and correct and to have been signed or sent by or on behalf of the proper Person or Persons and need not investigate any fact or matter stated in any such document; 

(ix) may seek and rely upon, and shall be fully protected in relying upon, any judicial order or judgment, upon any advice,
opinion or statement of legal counsel (who may be counsel to the Issuer), independent consultants and other experts selected by it in good faith and upon any certification, instruction, notice or other writing delivered to it by any Grantor in
compliance with the provisions of this Agreement without being required to determine the authenticity thereof or the correctness of any fact stated therein or the propriety or validity of service thereof; 

(x) shall not be required to inquire as to the occurrence or absence of any Event of Default and shall not be affected by or
required to act upon any notice or knowledge as to the occurrence of any Event of Default unless and until it is so directed; 

(xi) shall not be required to advance or expend any funds or otherwise incur any financial liability in the performance of its
duties or the exercise of its powers or rights hereunder unless it has been provided with security or indemnity satisfactory to it against any and all liability or expense which may be incurred by it by reason of taking or continuing to take such
action; 
 (xii) shall not be responsible for insuring the Collateral or for the payment of taxes, charges, assessments or
Liens upon the Collateral or otherwise as to the maintenance of the Collateral; 
 (xiii) shall be accountable only for
amounts that it actually receives as a result of the exercise of its powers hereunder and under any Security Document, and neither it nor any of its officers, directors, employees or agents shall have any duty or liability or be responsible to any
Grantor for any act or failure to act hereunder, except for its own gross negligence or willful misconduct. Nothing contained in this Agreement shall be construed as requiring or obligating the Controlling Collateral Agent, and the Controlling
Collateral Agent shall not, absent instruction from the Grantors, be required or obligated, to (i) present or file any claim or notice or take any action with respect to any Collateral or in connection therewith or (ii) notify any Grantor
of any decline in the value of any Collateral; 
 (xiv) shall not be liable for failure to demand, collect or realize upon
all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of any Grantor; 

  
 16 

 (xv) shall not be liable for any failure or delay in the performance of its
obligations hereunder or under any of the other Security Documents because of circumstances beyond the Controlling Collateral Agent’s control, including, acts of God, flood, war (whether declared or undeclared), terrorism, fire, riot, strikes
or work stoppages for any reason, embargo, government action, including any laws, ordinances, regulations or the like which delay, restrict or prohibit the providing of the services contemplated by this Agreement, or the failure of equipment or
interruption of communications or computer facilities, and other, causes beyond the Controlling Collateral Agent’s control whether or not of the same class or kind as specifically named above; 

(xvi) shall not be liable for any action taken, suffered, or omitted to be taken by it in good faith and reasonably believed by
it to be authorized or within the discretion or rights or powers conferred upon it by this Agreement or any of the other Security Documents; 

(xvii) shall not be liable for any indirect, special, punitive, exemplary or consequential loss or damage of any kind
whatsoever, including, but not limited to, lost profits, even if such loss or damage was foreseeable or it has been advised of the likelihood of such loss or damage and regardless of the form of action; and 

(xviii) shall not have any responsibility for filing any financing or continuation statements or recording any documents or
instruments in any public office at any time or times or otherwise perfecting or maintaining the perfection of any security interest in any Collateral. 

SECTION 4.04. Collateral and Guaranty Matters. Each of the First Lien Secured Parties irrevocably authorizes the applicable Collateral
Agent, at its option and in its discretion, to release any Lien on any property granted to or held by the Collateral Agent under any First Lien Security Document in accordance with Section 2.04 or upon receipt of a written request from the
Borrower stating that the releases of such Lien is permitted by the terms of each then extant Secured Credit Document. 
 SECTION 4.05.
No Liability for Clean Up of Hazardous Materials. In the event that the Controlling Collateral Agent is requested to acquire title to an asset for any reason, or take any managerial action of any kind in regard thereto, in order to carry out
any fiduciary or trust obligation for the benefit of another, which in the Controlling Collateral Agent’s sole discretion may cause the Collateral Agent to be considered an “owner or operator” under the provisions of the Comprehensive
Environmental Response Cleanup and Liability Act or any similar environmental laws (collectively, “CERCLA”) or otherwise cause the Controlling Collateral Agent to incur, or be exposed to, any environmental liability or any liability
under CERCLA or any other federal, state or local law, the Controlling Collateral Agent shall not be required to acquire such title and reserves the right, instead of taking such action, either to resign as Controlling Collateral Agent or to arrange
for the transfer of the title or control of the asset to a court appointed receiver. The Controlling Collateral Agent shall not be liable to any Person for any environmental liability or any environmental claims or contribution actions under any
federal, state or local law, rule or regulation by reason of the Controlling Collateral Agent’s actions and conduct as authorized, empowered and directed hereunder or relating to any kind of discharge, release or threatened release of hazardous
materials into the environment. 
 SECTION 4.06. Merger of the Collateral Agent. Any Person into which the Collateral Agent may be
merged or converted, or with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to which the Collateral Agent shall be a party, or any Person succeeding to all or substantially all of the corporate
trust business of the Collateral Agent, shall be the successor of the Collateral Agent under this Agreement and the other Security Documents without the execution or filing of any paper or any further act on the part of the parties hereto. 

  
 17 

 ARTICLE V 

Miscellaneous 
 SECTION
5.01. Notices. All notices and other communications provided for herein (including, but not limited to, all the directions and instructions to be provided to the Controlling Collateral Agent herein by the First Lien Secured Parties) shall be
in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopy, as follows: 

(a) if to the Borrower or any Grantor, to the Borrower, at its address at: 

Avantor, Inc. 

3477 Corporate Parkway 

Center Valley, Pennsylvania 18034 

Attention: General Counsel 

(b) if to the Bank Collateral Agent, to it at: 

GOLDMAN SACHS BANK USA 

Paul Burningham 

c/o Goldman, Sachs & Co. 

30 Hudson Street, 26th Floor 

Jersey City, NJ 07302 

(c) if to the Notes Collateral Agent, to it at: 

The Bank of New York Mellon Trust Company, N.A., 

500 Ross Street, 12th Floor, Pittsburgh, PA 15262 

Fax No.: (412) 234-8377 

Attention: Corporate Trust Administration; and 

(d) if to any other Collateral Agent, to it at the address set forth in the applicable Joinder Agreement. 

Any party hereto may change its address, fax number or email address for notices and other communications hereunder by notice to the other parties hereto.
Unless otherwise specifically provided herein, any notice or other communication herein required or permitted to be given shall be in writing and, may be personally served, telecopied, electronically mailed or sent by courier service or U.S. mail
and shall be deemed to have been given when delivered in person or by courier service, upon receipt of a telecopy or electronic mail or upon receipt via U.S. mail (registered or certified, with postage prepaid and properly addressed). For the
purposes hereof, the addresses of the parties hereto shall be as set forth above or, as to each party, at such other address as may be designated by such party in a written notice to all of the other parties. As agreed to in writing among the
Controlling Collateral Agent and each other Collateral Agent from time to time, notices and other communications may also be delivered by e-mail to the e-mail address of
a representative of the applicable person provided from time to time by such person. 

  
 18 

 The Notes Collateral Agent agrees to accept and act upon instructions or directions pursuant to this
Agreement sent by unsecured e-mail, pdf, facsimile transmission or other similar unsecured electronic methods, provided, however, that the Notes Collateral Agent shall have received an incumbency certificate
listing persons designated to give such instructions or directions and containing specimen signatures of such designated persons, which such incumbency certificate shall be amended and replaced whenever a person is to be added or deleted from the
listing. If the Borrower, a Grantor, the Bank Collateral Agent or any other Collateral Agent or Senior Class Debt Representative elects to give the Notes Collateral Agent e-mail or facsimile instructions
(or instructions by a similar electronic method) and the Notes Collateral Agent in its discretion elects to act upon such instructions, the Notes Collateral Agent’s understanding of such instructions shall be deemed controlling. The Notes
Collateral Agent shall not be liable for any losses, costs or expenses arising directly or indirectly from the Notes Collateral Agent’s reliance upon and compliance with such instructions notwithstanding such instructions conflict or are
inconsistent with a subsequent written instruction. The Borrower, each Grantor, the Bank Collateral Agent and any other Collateral Agent or Senior Class Debt Representative each agrees to assume all risks arising out of the use of such
electronic methods to submit instructions and directions to the Notes Collateral Agent, including without limitation the risk of the Notes Collateral Agent acting on unauthorized instructions, and the risk or interception and misuse by third
parties. 
 SECTION 5.02. Waivers; Amendment; Joinder Agreements. 

(a) No failure or delay on the part of any party hereto in exercising any right or power hereunder shall operate as a waiver thereof, nor shall
any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and
remedies of the parties hereto are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by any party therefrom shall in any event be
effective unless the same shall be permitted by paragraph (b) of this Section, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice or demand on any party hereto in any
case shall entitle such party to any other or further notice or demand in similar or other circumstances. 
 (b) Neither this Agreement nor
any provision hereof may be terminated, waived, amended or modified (other than pursuant to any Joinder Agreement) except pursuant to an agreement or agreements in writing entered into by each Collateral Agent (and with respect to any such
termination, waiver, amendment or modification which by the terms of this Agreement requires the Borrower’s consent or which increases the obligations or reduces the rights of the Borrower or any other Grantor, with the consent of the
Borrower). 
 (c) Notwithstanding the foregoing, without the consent of any First Lien Secured Party, any Additional Agent may become a party
hereto by execution and delivery of a Joinder Agreement in accordance with Section 5.13 of this Agreement and upon such execution and delivery, such Additional Agent and the Additional First Lien Secured Parties and Additional First Lien
Obligations of the Series for which such Additional Agent is acting shall be subject to the terms hereof. 
 (d) Notwithstanding the
foregoing, without the consent of any other Collateral Agent or First Lien Secured Party, the Controlling Collateral Agent may effect amendments and modifications to this Agreement to the extent necessary to reflect any incurrence of any Additional
First Lien Obligations in compliance with the Credit Agreement, the Indenture and any Additional First Lien Documents. 
 SECTION 5.03.
Parties in Interest. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, as well as the other First Lien Secured Parties, all of whom are intended to be bound by,
and to be third party beneficiaries of, this Agreement. 

  
 19 

 SECTION 5.04. Survival of Agreement. All covenants, agreements, representations and
warranties made by any party in this Agreement shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of this Agreement. 

SECTION 5.05. Counterparts. This Agreement may be executed in counterparts, each of which shall constitute an original but all of which
when taken together shall constitute a single contract. Delivery of an executed signature page to this Agreement by facsimile or other electronic transmission shall be as effective as delivery of a manually signed counterpart of this Agreement. 

SECTION 5.06 Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as
to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a
particular jurisdiction shall not invalidate such provision in any other jurisdiction. The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of
which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
 SECTION 5.07. Authorization. By its
signature, each Person executing this Agreement on behalf of a party hereto represents and warrants to the other parties hereto that it is duly authorized to execute this Agreement. The Bank Collateral Agent represents and warrants that this
Agreement is binding upon the Credit Agreement Secured Parties. The Notes Collateral Agent represents and warrants that this Agreement is binding upon the Indenture Secured Parties. 

SECTION 5.08. Submission to Jurisdiction Waivers; Consent to Service of Process. Each Collateral Agent, on behalf of itself and the
First Lien Secured Parties of the Series for whom it is acting, irrevocably and unconditionally: 
 (a) submits for itself
and its property in any legal action or proceeding relating to this Agreement, or for recognition and enforcement of any judgment in respect thereof, to the exclusive jurisdiction of the courts of the State of New York and the courts of the United
States of America for the Southern District of New York, in each case sitting in New York County, and appellate courts from any thereof; 

(b) consents that any such action or proceeding may be brought in such courts and waives any objection that it may now or
hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient forum and agrees not to plead or claim the same; 

(c) agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered or
certified mail (or any substantially similar form of mail), postage prepaid, to such Person (or its Collateral Agent) at the address referred to in 5.01; 

(d) agrees that nothing herein shall affect the right of any other party hereto (or any First Lien Secured Party) to effect
service of process in any other manner permitted by law or shall limit the right of any party hereto (or any First Lien Secured Party) to sue in any other jurisdiction; and 

  
 20 

 (e) waives, to the maximum extent not prohibited by law, any right it may
have to claim or recover in any legal action or proceeding referred to in this Section 5.08 any special, exemplary, punitive or consequential damages. 

SECTION 5.09. GOVERNING LAW; WAIVER OF JURY TRIAL.  

(A) THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO THE PRINCIPLES OF CONFLICTS OF LAWS, EXCEPT AS REQUIRED BY MANDATORY PROVISIONS OF LAW. 
 (B) EACH PARTY HERETO HEREBY IRREVOCABLY
AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT AND FOR ANY COUNTERCLAIM THEREIN. 

SECTION 5.10. Headings. Article, Section and Annex headings used herein are for convenience of reference only, are not part of this
Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 
 SECTION 5.11.
Conflicts. In the event of any conflict or inconsistency between the provisions of this Agreement and the provisions of any of the other First Lien Security Documents or Additional First Lien Documents, the provisions of this Agreement shall
control. 
 SECTION 5.12. Provisions Solely to Define Relative Rights. The provisions of this Agreement are and are intended solely
for the purpose of defining the relative rights of the First Lien Secured Parties in relation to one another. None of the Borrower, any other Grantor or any other creditor thereof shall have any rights or obligations hereunder, except as expressly
provided in this Agreement (provided that nothing in this Agreement (other than Section 2.04, 2.05 or 2.09) is intended to or will amend, waive or otherwise modify the provisions of the Credit Agreement or any Additional First Lien Documents),
and none of the Borrower or any other Grantor may rely on the terms hereof (other than Section 2.04, 2.05 or 2.09). Nothing in this Agreement is intended to or shall impair the obligations of any Grantor, which are absolute and unconditional,
to pay the First Lien Obligations as and when the same shall become due and payable in accordance with their terms. 
 SECTION 5.13.
Additional First Lien Obligations. To the extent, but only to the extent permitted by the provisions of the Credit Agreement, the Indenture and the Additional First Lien Documents then in effect, the Borrower may incur Additional First Lien
Obligations. Any such additional class or series of Additional First Lien Obligations (the “Senior Class Debt”) may be secured by a Lien and may be Guaranteed by the Grantors on a pari passu basis, in each case
under and pursuant to the First Lien Documents, if and subject to the condition that the Collateral Agent of any such Senior Class Debt (each, a “Senior Class Debt Representative”), acting on behalf of the
holders of such Senior Class Debt (such Collateral Agent and holders in respect of any Senior Class Debt being referred to as the “Senior Class Debt Parties”), becomes a party to this Agreement by
satisfying the conditions set forth in clauses (i) through (iv) of the immediately succeeding paragraph. 
 In order for a Senior
Class Debt Representative to become a party to this Agreement, 

  
 21 

 (i) such Senior Class Debt Representative, the Controlling Collateral
Agent and each Grantor shall have executed and delivered an instrument substantially in the form of Annex I (with such changes as may be reasonably approved by the Controlling Collateral Agent and such Senior Class Representative) pursuant to
which such Senior Class Debt Representative becomes a Collateral Agent and Additional Agent hereunder, and the Senior Class Debt in respect of which such Senior Class Debt Representative is the Collateral Agent and the related Senior
Class Debt Parties become subject hereto and bound hereby; 
 (ii) the Borrower shall have delivered to the Controlling
Collateral Agent true and complete copies of each of the Additional First Lien Documents relating to such Senior Class Debt, certified as being true and correct by a Responsible Officer of the Borrower; 

(iii) the Borrower shall have delivered to the Controlling Collateral Agent an Officer’s Certificate stating that such
Additional First Lien Obligations are permitted by each applicable Secured Credit Document to be incurred, or to the extent a consent is otherwise required to permit the incurrence of such Additional First Lien Obligations under any Secured Credit
Document, each Grantor has obtained the requisite consent; and 
 (iv) the Additional First Lien Documents, as applicable,
relating to such Senior Class Debt shall provide, in a manner reasonably satisfactory to the Controlling Collateral Agent, that each Senior Class Debt Party with respect to such Senior Class Debt will be subject to and bound by the
provisions of this Agreement in its capacity as a holder of such Senior Class Debt. 
 SECTION 5.14 Integration. This Agreement
together with the other Secured Credit Documents and the First Lien Security Documents represents the entire agreement of each of the Grantors and the First Lien Secured Parties with respect to the subject matter hereof and there are no promises,
undertakings, representations or warranties by any Grantor, any Collateral Agent or any other First Lien Secured Party relative to the subject matter hereof not expressly set forth or referred to herein or in the other Secured Credit Documents or
the First Lien Security Documents. 
 SECTION 5.16 Information Concerning Financial Condition of the Borrower and the other Grantors.
The Controlling Collateral Agent, the other Collateral Agents and the Secured Parties shall each be responsible for keeping themselves informed of (a) the financial condition of the Borrower and the other Grantors and all endorsers or
guarantors of the First Lien Obligations and (b) all other circumstances bearing upon the risk of nonpayment of the First Lien Obligations. The Controlling Collateral Agent, the other Collateral Agents and the Secured Parties shall have no duty
to advise any other party hereunder of information known to it or them regarding such condition or any such circumstances or otherwise. In the event that the Controlling Collateral Agent, any other Collateral Agent or any Secured Party, in its sole
discretion, undertakes at any time or from time to time to provide any such information to any other party, it shall be under no obligation to (i) make, and Controlling Collateral Agent, the other Collateral Agents and the Secured Parties shall
not make or be deemed to have made, any express or implied representation or warranty, including with respect to the accuracy, completeness, truthfulness or validity of any such information so provided, (ii) provide any additional information
or to provide any such information on any subsequent occasion, (iii) undertake any investigation or (iv) disclose any information that, pursuant to accepted or reasonable commercial finance practices, such party wishes to maintain
confidential or is otherwise required to maintain confidential. 
 SECTION 5.17. Additional Grantors. The Borrower agrees that, if
any Intermediate Holdings or Subsidiary of Holdings shall become a Grantor after the date hereof, it will promptly cause such Intermediate Holdings or Subsidiary to become party hereto by executing and delivering an instrument in the form of Annex
II. Upon such execution and delivery, such Intermediate Holdings or Subsidiary will become a Grantor hereunder with the same force and effect as if originally named as a Grantor herein. The execution and delivery of such instrument shall not require
the consent of any other party hereunder, and will be acknowledged by the Controlling Collateral Agent. The rights and obligations of each Grantor hereunder shall remain in full force and effect notwithstanding the addition of any new Grantor as a
party to this Agreement. 

  
 22 

 SECTION 5.18. Further Assurances. Each Collateral Agent, on behalf of itself and each
First Lien Secured Party under the applicable Credit Agreement, Indenture or Additional First Lien Debt Facility, agrees that it will take such further action and shall execute and deliver such additional documents and instruments (in recordable
form, if requested) as the other parties hereto may reasonably request to effectuate the terms of, and the Lien priorities contemplated by, this Agreement. 

SECTION 5.19. Bank Collateral Agent and Notes Collateral Agent. It is understood and agreed that (a) the Bank Collateral
Agent is entering into this Agreement in its capacity as administrative agent under the Credit Agreement and the provisions of Article IX of the Credit Agreement applicable to it as administrative agent thereunder shall also apply to it as
Controlling Collateral Agent hereunder and (b) the Notes Collateral Agent is entering in this Agreement in its capacity as Trustee and Collateral Agent under the Indenture and as Notes Collateral Agent under the Notes Security Agreement and the
provisions of the Indenture and the Notes Security Agreement granting or extending any rights, protections, privileges, indemnities and immunities to the Trustee, Collateral Agent or Notes Collateral Agent thereunder shall also apply to the Notes
Collateral Agent hereunder. 
 For the avoidance of doubt, the parties hereto acknowledge that in no event shall the Bank Collateral Agent
or Notes Collateral Agent be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether any such party has been advised of the
likelihood of such loss or damage and regardless of the form of action. 

  
 23 

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

			
	 GOLDMAN SACHS BANK USA,
 as
Bank Collateral Agent and Controlling Collateral Agent

		
	By:	 	 /s/ Charles D. Johnston

		 	Name: Charles D. Johnston
		 	Title: Authorized Signatory
	
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

as Notes Collateral Agent

		
	By:	 	 /s/ Valerie Boyd

		 	Name: Valerie Boyd
		 	Title: Vice President
	
	VAIL HOLDCO SUB LLC
		
	By:	 	 /s/ Douglas J. Pitts

		 	Name: Douglas J. Pitts
		 	Title: President and Corporate Controller
	
	AVANTOR, INC.
		
	By:	 	 /s/ Mark Armstrong

		 	Name: Mark Armstrong
		 	Title: Chief Financial Officer and Treasurer

  
 2 

 
			
	AMRESCO, LLC
	EPL PATHOLOGY ARCHIVES, LLC
	INTEGRA COMPANIES, LLC
	PAW BIOSCIENCE PRODUCTS, LLC
	RELIABLE BIOPHARMACEUTICAL, LLC
	STI COMPONENTS, LLC
	TEK PRODUCTS, LLC
	THERAPAK, LLC
	VWR CHEMICALS, LLC
		
	By:	 	 /s/ Douglas J. Pitts

		 	Name: Douglas J. Pitts
		 	Title: Vice President
	
	AVANTOR PERFORMANCE MATERIALS, LLC
	AVANTOR TOPCO SUB, L.P.
	MEDISIL COMPANY LLC
	MOREHOUSE-COWLES, LLC
	NUSIL INVESTMENTS LLC
	NUSIL TECHNOLOGY LLC
	SITECH NUSIL, LLC
	TRELYST LLC
		
	By:	 	 /s/ Mark Armstrong

		 	Name: Mark Armstrong
		 	Title: Chief Financial Officer and Treasurer
	
	VWR CORPORATION
	VWR FUNDING, INC.
	VWR INTERNATIONAL, LLC
		
	By:	 	 /s/ Douglas J. Pitts

		 	Name: Douglas J. Pitts
		 	Title: Vice President and Corporate Controller
	
	VWR GLOBAL HOLDINGS, INC.
		
	By:	 	 /s/ Douglas J. Pitts

		 	Name: Douglas J. Pitts
		 	Title: President

  
 3 

 
			
	APPLIED SILICONE COMPANY LLC
		
	By:	 	 /s/ Joseph Braun

		 	Name: Joseph Braun
		 	Title: Chief Legal Officer and Secretary
	
	AVANTOR INTERMEDIATE HOLDINGS LLC
		
	By:	 	 /s/ Douglas J. Pitts

		 	Name: Douglas J. Pitts
		 	Title: President and Corporate Controller
	
	AVANTOR PERFORMANCE MATERIALS INTERNATIONAL, LLC
	PURITAN PRODUCTS, INC.
		
	By:	 	 /s/ Mark Armstrong

		 	Name: Mark Armstrong
		 	Title: President, Chief Financial Officer and Treasurer
	
	VWR MANAGEMENT SERVICES LLC
		
	By:	 	 /s/ Douglas J. Pitts

		 	Name: Douglas J. Pitts
		 	Title: Vice President and Corporate Controller of VWR International LLC, its sole member
	
	NUSIL ACQUISITION CORP.
		
	By:	 	 /s/ Mark Armstrong

		 	Name: Mark Armstrong
		 	Title: Chief Financial Officer and Treasurer

  
 4 

 ANNEX I 

[FORM OF] JOINDER NO. [ ] dated as of [ ], 20[ ] to the FIRST LIEN INTERCREDITOR AGREEMENT dated as of November 21, 2017 (the
“First Lien Intercreditor Agreement”), among Vail Holdco Sub LLC, a Delaware limited liability company (“Holdings”), Avantor, Inc., a Delaware corporation (the “Borrower”), the other Grantors (as
defined therein), Goldman Sachs Bank USA, as collateral agent for the Credit Agreement Secured Parties (in such capacity, the “Bank Collateral Agent”), and The Bank of New York Mellon Trust Company, N.A., as collateral agent for the
Indenture Secured Parties (in such capacity, the “Notes Collateral Agent”) and each Additional Agent from time to time party thereto. 

A. Capitalized terms used herein but not otherwise defined herein shall have the meanings assigned to such terms in the First Lien
Intercreditor Agreement. 
 B. As a condition to the ability of the Company or its Restricted Subsidiaries to incur Additional First Lien
Obligations and to secure such Senior Class Debt with the Senior Lien and to have such Senior Class Debt guaranteed by the Grantors on a senior basis, in each case under and pursuant to the Additional First Lien Documents, the Senior
Class Debt Representative in respect of such Senior Class Debt is required to become a Collateral Agent under, and such Senior Class Debt and the Senior Class Debt Parties in respect thereof are required to become subject to and
bound by, the First Lien Intercreditor Agreement. Section 5.13 of the First Lien Intercreditor Agreement provides that such Senior Class Debt Representative may become a Collateral Agent under, and such Senior Class Debt and such
Senior Class Debt Parties may become subject to and bound by, the First Lien Intercreditor Agreement, upon the execution and delivery by the Senior Class Representative of an instrument in the form of this Joinder and the satisfaction of
the other conditions set forth in Section 5.13 of the First Lien Intercreditor Agreement. The undersigned Senior Class Debt Representative (the “New Collateral Agent”) is executing this Joinder in accordance with the
requirements of the First Lien Intercreditor Agreement. 
 Accordingly, the Controlling Collateral Agent and the New Collateral Agent agree
as follows: 
 SECTION 1. In accordance with Section 5.13 of the First Lien Intercreditor Agreement, the New Collateral Agent by its
signature below becomes a Collateral Agent and Additional Agent under, and the related Senior Class Debt and Senior Class Debt Parties become subject to and bound by, the First Lien Intercreditor Agreement with the same force and effect as
if the New Collateral Agent had originally been named therein as a Collateral Agent, and the New Collateral Agent, on behalf of itself and such Senior Class Debt Parties, hereby agrees to all the terms and provisions of the First Lien
Intercreditor Agreement applicable to it as a Collateral Agent and to the Senior Class Debt Parties that it represents as Additional First Lien Secured Parties. Each reference to a “Collateral Agent” or an “Additional
Agent” in the First Lien Intercreditor Agreement shall be deemed to include the New Collateral Agent. The First Lien Intercreditor Agreement is hereby incorporated herein by reference. 

SECTION 2. The New Collateral Agent represents and warrants to the Controlling Collateral Agent and the other First Lien Secured Parties that
(i) it has full power and authority to enter into this Joinder, in its capacity as [agent] [trustee], (ii) this Joinder has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable
against it in accordance with the terms of such Agreement and (iii) the Additional First Lien Documents relating to such Senior Class Debt provide that, upon the New Collateral Agent’s entry into this Agreement, the Senior
Class Debt Parties in respect of such Senior Class Debt will be subject to and bound by the provisions of the First Lien Intercreditor Agreement as Additional First Lien Secured Parties. 

 SECTION 3. This Joinder may be executed in counterparts, each of which shall constitute an
original, but all of which when taken together shall constitute a single contract. This Joinder shall become effective when the Collateral Agent shall have received a counterpart of this Joinder that bears the signature of the New Collateral Agent.
Delivery of an executed signature page to this Joinder by facsimile transmission shall be effective as delivery of a manually signed counterpart of this Joinder. 

SECTION 4. Except as expressly supplemented hereby, the First Lien Intercreditor Agreement shall remain in full force and effect. 

SECTION 5. THIS JOINDER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

SECTION 6. In case any one or more of the provisions contained in this Joinder should be held invalid, illegal or unenforceable in any
respect, no party hereto shall be required to comply with such provision for so long as such provision is held to be invalid, illegal or unenforceable, but the validity, legality and enforceability of the remaining provisions contained herein and in
the First Lien Intercreditor Agreement shall not in any way be affected or impaired. The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect
of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
 SECTION 7. All communications and
notices hereunder shall be in writing and given as provided in Section 5.01 of the First Lien Intercreditor Agreement. All communications and notices hereunder to the New Collateral Agent shall be given to it at the address set forth below its
signature hereto. 
 SECTION 8. The Borrower agrees to reimburse the Controlling Collateral Agent for its reasonable out-of-pocket expenses in connection with this Joinder, including the reasonable fees, other charges and disbursements of counsel for the Controlling Collateral Agent. 

 IN WITNESS WHEREOF, the New Collateral Agent and the Controlling Collateral Agent have duly
executed this Joinder to the First Lien Intercreditor Agreement as of the day and year first above written. 
  

			
	[NAME OF NEW COLLATERAL AGENT], as
	[                 ] for the holders of
	[                                 ],
		
	By:	 	  

		 	Name:
		 	Title:

 
			
	Address for notices:
		
		 	  

		
	    	 	  

		
		 	attention of:
	  

		
		 	Telecopy:
	  

			
	Acknowledged by:
	
	
[                          
          ],
 as Controlling Collateral
Agent

			
		
	By:	 	  

		 	Name:
		 	Title:
	
	VAIL HOLDCO SUB LLC

			
		
	By:	 	  

		 	Name:
		 	Title:
	
	AVANTOR, INC.

			
		
	By:	 	  

		 	Name:
		 	Title:
	
	[GRANTORS]

 ANNEX II 

SUPPLEMENT NO.    dated as of    , to the FIRST LIEN INTERCREDITOR AGREEMENT dated as of
November 21, 2017 (the “First Lien Intercreditor Agreement”), among Vail Holdco Sub LLC, a Delaware limited liability company (“Holdings”), Avantor, Inc., a Delaware corporation (the
“Borrower”), the other Grantors (as defined therein), Goldman Sachs Bank USA, as collateral agent for the Credit Agreement Secured Parties (in such capacity, the “Bank Collateral Agent”), and The Bank of New York
Mellon Trust Company, N.A., as collateral agent for the Indenture Secured Parties (in such capacity, the “Notes Collateral Agent”) and each Additional Agent from time to time party thereto. 

A. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the First Lien
Intercreditor Agreement. 
 B. The Grantors have entered into the First Lien Intercreditor Agreement. Pursuant to certain Secured Credit
Documents, certain newly acquired or organized Subsidiaries of Holdings are required to enter into the First Lien Intercreditor Agreement. Section 5.17 of the First Lien Intercreditor Agreement provides that such Subsidiaries may become party
to the First Lien Intercreditor Agreement by execution and delivery of an instrument in the form of this Supplement. Each undersigned Subsidiary (each, a “New Grantor” and collectively, the “New Grantors”) is
executing this Supplement in accordance with the requirements of the Credit Agreement, the Indenture and Additional First Lien Documents. 

Accordingly, the Controlling Collateral Agent and each New Grantor agree as follows: 

SECTION 1. In accordance with Section 5.17 of the First Lien Intercreditor Agreement, each New Grantor by its signature below becomes a
Grantor under the First Lien Intercreditor Agreement with the same force and effect as if originally named therein as a Grantor, and each New Grantor hereby agrees to all the terms and provisions of the First Lien Intercreditor Agreement applicable
to it as a Grantor thereunder. Each reference to a “Grantor” in the First Lien Intercreditor Agreement shall be deemed to include the New Grantors. The First Lien Intercreditor Agreement is hereby incorporated herein by reference. 

SECTION 2. Each New Grantor represents and warrants to the Controlling Collateral Agent and the other Secured Parties that this Supplement has
been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms. 

SECTION 3. This Supplement may be executed in counterparts, each of which shall constitute an original, but all of which when taken together
shall constitute a single contract. This Supplement shall become effective when the Controlling Collateral Agent shall have received a counterpart of this Supplement that bears the signature of the New Grantors. Delivery of an executed signature
page to this Supplement by facsimile transmission shall be as effective as delivery of a manually signed counterpart of this Supplement. 

SECTION 4. Except as expressly supplemented hereby, the First Lien Intercreditor Agreement shall remain in full force and effect. 

SECTION 5. THIS SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

 SECTION 6. In case any one or more of the provisions contained in this Supplement should be
held invalid, illegal or unenforceable in any respect, no party hereto shall be required to comply with such provision for so long as such provision is held to be invalid, illegal or unenforceable, but the validity, legality and enforceability of
the remaining provisions contained herein and in the First Lien Intercreditor Agreement shall not in any way be affected or impaired. The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable
provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

SECTION 7. All communications and notices hereunder shall be in writing and given as provided in Section 5.01 of the First Lien
Intercreditor Agreement. All communications and notices hereunder to the New Grantors shall be given to it in care of the Borrower as specified in the First Lien Intercreditor Agreement. 

SECTION 8. The Borrower agrees to reimburse the Controlling Collateral Agent for its reasonable out-of-pocket expenses in connection with this Supplement, including the reasonable fees, other charges and disbursements of counsel for the Controlling Collateral Agent. 

  
 -2- 

 IN WITNESS WHEREOF, the New Grantor, and the Controlling Collateral Agent have duly executed
this Supplement to the First Lien Intercreditor Agreement as of the day and year first above written. 
  

			
	[NAME OF NEW GRANTOR],
	By:	 	  

		 	Name:
		 	Title:

  

			
	Acknowledged by:
	
	[                                ], as Controlling
Collateral Agent,

			
		
	By:	 	  

		 	Name:
		 	Title:

  
 -3-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00294-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00294-of-00352.parquet"}]]