Document:

Exhibit 10.1

 

AMENDMENT NO. 2

TO THE

SECOND AMENDED AND RESTATED REVOLVING CREDIT AND GUARANTY

AGREEMENT

 

THIS AMENDMENT NO. 2
TO THE SECOND AMENDED AND RESTATED REVOLVING CREDIT AND GUARANTY AGREEMENT (this “Amendment”) is dated as
of February 16, 2018 and is entered into by and among CIT GROUP INC., a Delaware corporation (“Company”),
as Borrower, CERTAIN SUBSIDIARIES OF COMPANY listed on the signature pages hereto, as Guarantors, BANK OF AMERICA, N.A.,
as Administrative Agent (in such capacity, the “Administrative Agent”) and the Requisite Lenders listed on the
signature pages hereto and is made with reference to that certain SECOND AMENDED AND RESTATED REVOLVING CREDIT
AND GUARANTY AGREEMENT, dated as of February 17, 2016 (as amended by Amendment No. 1, dated February 27, 2017, the “Credit
Agreement”), by and among Company, certain subsidiaries of Company named therein as Guarantors, the Lenders party thereto
from time to time and the Administrative Agent. Capitalized terms used herein without definition shall have the same meanings herein
as set forth in the Amended Credit Agreement (as defined herein).

 

RECITALS

 

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

 

WHEREAS, subject
to certain conditions, the Requisite Lenders are willing to agree to such amendments relating to the Credit Agreement and the other
matters set forth herein; and

 

WHEREAS, Merrill
Lynch, Pierce, Fenner & Smith Incorporated, Barclays Bank PLC, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities
Inc., JPMorgan Chase Bank, N.A. and Morgan Stanley Senior Funding, Inc. are acting as joint lead arrangers and joint bookrunners
in connection with this Amendment (collectively, the “Amendment No. 2 Joint Lead Arrangers”).

 

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

 

SECTION
I.     AMENDMENT TO CREDIT AGREEMENT

 

		(a)	Effective as of the Amendment No.2 Effective Date (as defined herein), and subject to the terms and conditions set forth herein,
the Credit Agreement is hereby amended in the form of Exhibit A hereto (as so amended, the “Amended Credit Agreement”).

 

		(b)	Effective as of the Amendment No.2 Effective Date, and subject to the terms and conditions set forth herein, Schedule 2.1 (Commitments
and L/C Issuer Sublimit) to the Credit Agreement is hereby amended in the form of Exhibit B hereto.

 

SECTION
II.     CONDITIONS TO EFFECTIVENESS

 

This Amendment shall become effective only
upon the satisfaction or waiver in accordance with Section 10.5 of the Credit Agreement of the following conditions (the date of
satisfaction or waiver of such conditions being referred to herein as the “Amendment No. 2 Effective Date”):

    	 

    	

    

A.     The Administrative Agent shall have received
the following:

 

(i)      duly executed counterpart
signature pages to this Amendment from the Credit Parties, the Lenders, each L/C Issuer and the Administrative Agent;

 

(ii)      an executed copy of the
favorable written legal opinion, dated as of the Amendment No. 2 Effective Date, of Sullivan and Cromwell LLP, as counsel to the
Credit Parties, in form and substance reasonably satisfactory to the Administrative Agent (and each Credit Party hereby instructs
such counsel to deliver such opinion to the Administrative Agent);

 

(iii)     a certificate as to the
good standing of each Credit Party as of a recent date, from the Secretary of State or a similar Governmental Authority of the
state of its incorporation, organization or formation; and

 

(iv)     a certificate of an Authorized
Officer of each Credit Party dated the Amendment No. 2 Effective Date and certifying (I) to the effect that (A) attached thereto
is a true and complete copy of the certificate or articles of incorporation, organization or formation of such Credit Party certified
as of a recent date by the Secretary of State (or similar official) of the state of its incorporation, organization or formation,
or in the alternative (other than in the case of the Company), certifying that such certificate or articles of incorporation, organization
or formation have not been amended since the Closing Date, and that the certificate or articles are in full force and effect, (B)
attached thereto is a true and complete copy of the by-laws or operating agreements or equivalent documents of each Credit Party
as in effect on the Amendment No. 2 Effective Date, or in the alternative (other than in the case of the Company), certifying that
such by-laws or operating agreements or equivalent documents have not been amended since the Closing Date, and that such by-laws
or operating agreements or equivalent documents are in full force and effect and (C) attached thereto is a true and complete copy
of resolutions duly adopted by the board of directors, board of managers or member, as the case may be, of each Credit Party authorizing
the execution, delivery and performance of the Credit Documents to which such Credit Party is a party, and that such resolutions
have not been modified, rescinded or amended, and that such resolutions are in full force and effect, and (II) as to the incumbency
and specimen signature of each officer executing any Credit Document on behalf of any Credit Party and signed by another officer
as to the incumbency and specimen signature of the Authorized Officer executing the certificate pursuant to this clause (iv).

 

B.     The Company shall have paid (i) all fees
required to be paid on the Amendment No. 2 Effective Date pursuant to the Engagement Letter, dated as of January 18, 2018, between
CIT Group Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated and (ii) to the Amendment No. 2 Joint Lead Arrangers
and Bank of America, N.A., in its capacity as Administrative Agent, to the extent invoiced at least one (1) Business Day prior
to the Amendment No. 2 Effective Date, all reasonable out of pocket costs and expenses of the Administrative Agent and the Amendment
No. 2 Joint Lead Arrangers in connection with the arrangement, preparation, negotiation and execution of this Amendment (including
the reasonable fees and expenses of Cahill Gordon & Reindel LLP as counsel to the Administrative Agent and the Amendment No.
2 Joint Lead Arrangers) that are payable pursuant to Section 10.2 of the Credit Agreement and any outstanding costs and expenses
referred to in Section 10.2 of the Credit Agreement (which may include amounts constituting reasonable estimates of fees and expenses
of counsel and other advisors, provided that no such estimate shall thereafter preclude a final settling of account as to
such fees and expenses);

 

C.     The representations and warranties set
forth in Section III hereof shall be true and correct and the Administrative Agent shall have received a certificate of an Authorized
Officer to such effect.

    	2

    	

    

D.     Prior to or substantially concurrently
with the Amendment No. 2 Effective Date, the Company shall have paid to the Administrative Agent for the account of each applicable
Lender the Upfront Fees required to be paid on the Amendment No. 2 Effective Date pursuant to Section 2.8(a)(ii) of the Amended
Credit Agreement.

 

SECTION
III.     REPRESENTATIONS AND WARRANTIES

 

In order to induce Lenders
and the Administrative Agent to enter into this Amendment, to amend the Credit Agreement and to agree to the other matters set
forth herein, in each case as provided for herein, each Credit Party which is a party hereto represents and warrants to each Lender
and the Administrative Agent that, both before and immediately after giving effect to this Amendment, the following statements
are true and correct:

 

A.     The representations and warranties contained
in the Amended Credit Agreement and in the other Credit Documents are true and correct in all material respects (except such representations
and warranties that by their terms are qualified by materiality or a Material Adverse Effect, which representations and warranties
shall be true and correct in all respects), to the same extent as though made on and as of such time (or to the extent such representations
and warranties specifically relate to an earlier date, on and as of such earlier date).

 

B.     No Default or Event of Default shall have
occurred and be continuing.

 

SECTION
IV.     ACKNOWLEDGMENT AND CONSENT

 

Each Guarantor hereby acknowledges
that it has reviewed the terms and provisions of the Credit Agreement and this Amendment and consents to the amendments of the
Credit Agreement effected pursuant to this Amendment. Each Guarantor hereby confirms that each Credit Document to which it is a
party or otherwise bound will continue to guarantee to the fullest extent possible in accordance with the Credit Documents the
payment and performance of all “Obligations” under each of the Credit Documents to which is a party (in each case as
such terms are defined in the applicable Credit Document).

 

Each Guarantor acknowledges
and agrees that any of the Credit Documents to which it is a party or otherwise bound shall continue in full force and effect and
that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or
effectiveness of this Amendment.

 

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

 

SECTION
V.     RELEASE OF SUBSIDIARY GUARANTORS

 

As of the Amendment No.
2 Effective Date, Borrower, the Administrative Agent and the Lenders agree that each of CIT Financial USA, Inc., CIT Lending Services
Corporation and CIT Technology Financing Services, Inc. shall be released as a Guarantor without any further action required on
the part of Borrower, CIT Financial USA, Inc., CIT Lending Services Corporation, CIT Technology Financing Services, Inc. or any
other Guarantor.

    	3

    	

    

SECTION
VI.     MISCELLANEOUS

 

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

 

(i)      On and after the Amendment No.
2 Effective Date, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”,
“herein” or words of like import referring to the Credit Agreement, and each reference in the other Credit Documents
to the “Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the
Credit Agreement shall mean and be a reference to the Amended Credit Agreement.

 

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

 

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

 

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

 

C.     Applicable
Law. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND
ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

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

 

E.     Binding Effect. The execution
and delivery of this Amendment by any Lender shall be binding upon each of its successors and assigns (including assignees of its
Loans in whole or in part prior to the effectiveness hereof).

 

F.     Waiver of Jury Trial. Each
of the parties hereto irrevocably waives trial by jury in any action or proceeding with respect to this Amendment or any other
Credit Document.

 

[Remainder of this page intentionally
left blank.]

    	4

    	

    

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

 

	 	Borrower:
	 	 	 	 
	 	CIT GROUP INC.
	 	 	 	 
	 	By:	 /s/ Kenneth A. Brause
	 	 	Name:	Kenneth A. Brause
	 	 	Title:	Executive Vice President and Treasurer
	 	 	 	 	 

	 	Guarantors:
	 	 	 	 
	 	THE CIT GROUP/EQUIPMENT FINANCING, INC.
	 	 	 	 
	 	By:	 /s/ Kenneth A. Brause
	 	 	Name:	Kenneth A. Brause
	 	 	Title:	Executive Vice President and Treasurer
	 	 	 	 

	 	C.I.T. LEASING CORPORATION
	 	 	 	 
	 	By:	 /s/ Kenneth A. Brause
	 	 	Name:	Kenneth A. Brause
	 	 	Title:	Executive Vice President and Treasurer
	 	 	 	 

	 	CIT HEALTHCARE LLC
	 	 	 	 
	 	By:	 /s/ Kenneth A. Brause
	 	 	Name:	Kenneth A. Brause
	 	 	Title:	Executive Vice President and Treasurer
	 	 	 	 

	 	THE CIT GROUP/BUSINESS CREDIT, INC.
	 	 	 	 
	 	By:	 /s/ Kenneth A. Brause
	 	 	Name:	Kenneth A. Brause
	 	 	Title:	Executive Vice President and Treasurer

 

[Signature Page to Amendment No. 2 to CIT
Second Amended and Restated Credit Agreement]

    	 

    	

    

	 	CIT CAPITAL USA INC.
	 	 	 	 
	 	By:	 /s/ Kenneth A. Brause
	 	 	Name:	Kenneth A. Brause
	 	 	Title:	Executive Vice President and Treasurer

 

[Signature Page to Amendment No. 2 to CIT
Second Amended and Restated Credit Agreement]

    	 

    	

    

	 	BANK OF AMERICA, N.A.,
	 	as Administrative Agent
	 	 	 	 
	 	By: 	/s/ Aamir Saleem
	 	 	Name:	Aamir Saleem
	 	 	Title:	Vice President
	 	 	 	 

	 	BANK OF AMERICA, N.A.,
	 	as Lender and L/C Issuer
	 	 	 	 
	 	By: 	/s/ William Soo
	 	 	Name:	William Soo
	 	 	Title:	Director

 

[Signature Page to Amendment No. 2 to CIT
Second Amended and Restated Credit Agreement]

    	 

    	

    

	 	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,
	 	as a Lender
	 	 	 	 
	 	By:	/s/ Doreen Barr
	 	 	Name:	Doreen Barr
	 	 	Title:	Authorized Signatory
	 	 	 	 
	 	By:	/s/ Andrew Griffin
	 	 	Name:	Andrew Griffin
	 	 	Title:	Authorized Signatory

 

[Signature Page to Amendment No. 2 to CIT
Second Amended and Restated Credit Agreement]

    	 

    	

    

	 	DEUTSCHE BANK AG NEW YORK BRANCH,
	 	as a Lender
	 	 	 	 
	 	By:	/s/ Ming K. Chu
	 	 	Name:	Ming K. Chu
	 	 	Title:	Director
	 	 	 	 
	 	If a second signature line is required:
	 	 	 	 
	 	By:	/s/ Virginia Cosenza
	 	 	Name:	Virginia Cosenza
	 	 	Title:	Vice President

 

[Signature Page to Amendment No. 2 to CIT
Second Amended and Restated Credit Agreement]

    	 

    	

    

	 	J.P. Morgan Chase Bank, N.A.,
	 	as a Lender
	 	 	 	 
	 	By:	/s/ Evelyn Crisci
	 	 	Name:	Evelyn Crisci
	 	 	Title:	Executive Director

 

[Signature Page to Amendment No. 2 to CIT
Second Amended and Restated Credit Agreement]

    	 

    	

    

	 	Citibank, N.A.,
	 	as a Lender
	 	 	 	 
	 	By:	/s/ Patrick Marsh
	 	 	Name:	Patrick Marsh
	 	 	Title:	Vice President
	 	 	 	 
	 	If a second signature line is required:
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 

 

[Signature Page to Amendment No. 2 to CIT
Second Amended and Restated Credit Agreement]

    	 

    	

    

	 	MORGAN STNALEY BANK, N.A.,
	 	as a Lender
	 	 	 	 
	 	By:	/s/ Michael King
	 	 	Name:	Michael King
	 	 	Title:	Authorized Signatory

 

[Signature Page to Amendment No. 2 to CIT
Second Amended and Restated Credit Agreement]

    	 

    	

    

	 	Credit Agricole Corporate and Investment Bank,  

as a Lender
	 	 	 	 
	 	By:	/s/ Gina Harth-Cryde
	 	 	Name:	Gina Harth-Cryde
	 	 	Title:	Managing Director
	 	 	 	 
	 	If a second signature line is required:
	 	 	 	 
	 	By:	/s/ Gordon Yip
	 	 	Name:	Gordon Yip
	 	 	Title:	Director

 

[Signature Page to Amendment No. 2 to CIT
Second Amended and Restated Credit Agreement]

    	 

    	

    

	 	Barclays Bank PLC,
	 	as a Lender
	 	 	 	 
	 	By:	/s/ Nicholas Guzzardo
	 	 	Name:	Nicholas Guzzardo
	 	 	Title:	Assistant Vice President

 

[Signature Page to Amendment No. 2 to CIT
Second Amended and Restated Credit Agreement]

    	 

    	

    

EXHIBIT A

Amended Credit Agreement

[Attached]

    	 

    	

    

CONFIDENTIAL

Tranche 1E Facility CUSIP 17284TAU1

  Tranche 1N Facility CUSIP 17284TAT4

  Tranche 2E Facility CUSIP 17284TAS6

Tranche 2N Facility CUSIP 17284TAS6

Published Deal CUSIP 17284TAR8

 

SECOND AMENDED AND RESTATED

REVOLVING CREDIT 

AND GUARANTY AGREEMENT

 

dated as of February 17, 2016 

 

as amended as of February 16, 2018

 

among

 

CIT GROUP INC.,

CERTAIN SUBSIDIARIES OF CIT GROUP INC.,

 

THE LENDERS PARTY HERETO FROM TIME TO
TIME,

 

BANK OF AMERICA, N.A.,

as Administrative Agent and L/C Issuer

 

 

 

MERRILL LYNCH, PIERCE, FENNER & SMITH
INCORPORATED,

BARCLAYS BANK PLC,

CREDIT SUISSE SECURITIES (USA) LLC,

DEUTSCHE BANK SECURITIES INC., 

JPMORGAN CHASE BANK, N.A. 

and

MORGAN STANLEY SENIOR FUNDING, INC.,

as Joint Lead Arrangers and Joint Bookrunners

 

BARCLAYS BANK PLC,

CREDIT SUISSE SECURITIES (USA) LLC,

DEUTSCHE BANK SECURITIES INC., 

JPMORGAN CHASE BANK, N.A.

and

MORGAN STANLEY SENIOR FUNDING, INC.,

as Syndication Agents

 

 

 

$500,000,000 Revolving Credit Facility

 

 

    	 

    	

    

TABLE OF CONTENTS

 

	 	 	 	Page
	 	 	 	 
	SECTION 1.
	 
	DEFINITIONS AND INTERPRETATION
	 
	1.1	 	Definitions	1
	1.2	 	Accounting Terms	41
	1.3	 	Interpretation, etc.	41
	1.4	 	Exchange Rates; Currency Equivalents	42
	1.5	 	Additional Alternative Currencies	42
	1.6	 	Change of Currency	43
	1.7	 	Times of Day	43
	1.8	 	Letter of Credit Amounts	43
	1.9	 	Type of Loans and Borrowings	43
	 	 	 	 
	SECTION 2.
	 
	LOANS
	 
	2.1	 	Loans	44
	2.2	 	Applicable Percentages; Availability of Funds	45
	2.3	 	Use of Proceeds	45
	2.4	 	Evidence of Debt; Register; Lenders’ Books and Records; Notes	46
	2.5	 	Interest on Loans	46
	2.6	 	Conversion/Continuation	47
	2.7	 	Default Interest	48
	2.8	 	Fees	48
	2.9	 	Voluntary Prepayments and Commitment Reductions	49
	2.10	 	Mandatory Prepayments; Commitment Termination	49
	2.11	 	Application of Commitment Reductions and Payments	50
	2.12	 	General Provisions Regarding Payments	50
	2.13	 	Ratable Sharing	51
	2.14	 	Making or Maintaining LIBOR Rate Loans	52
	2.15	 	Increased Costs; Capital Adequacy; Reserves on LIBOR Rate Loans	55
	2.16	 	Taxes; Withholding, etc.	56
	2.17	 	Obligation to Mitigate	60
	2.18	 	Defaulting Lenders	61
	2.19	 	Removal or Replacement of a Lender	62
	2.20	 	Letters of Credit	63
	 	 	 	 
	SECTION 3.
	 
	CONDITIONS PRECEDENT
	 
	3.1	 	Conditions to Initial Extensions of Credit	71
	3.2	 	Conditions to Each Credit Extension	73

    	-i-

    	

    

	 	 	 	Page
	 	 	 	 
	SECTION 4.
	 
	REPRESENTATIONS AND WARRANTIES
	 
	4.1	 	Organization; Requisite Power and Authority; Qualification	73
	4.2	 	Capital Stock and Ownership	74
	4.3	 	Due Authorization	74
	4.4	 	No Conflict	74
	4.5	 	Governmental Consents	74
	4.6	 	Binding Obligation	75
	4.7	 	Historical Financial Statements	75
	4.8	 	Adverse Proceedings, etc.	75
	4.9	 	Payment of Taxes	75
	4.10	 	Properties	76
	4.11	 	Environmental Matters	76
	4.12	 	No Defaults	76
	4.13	 	Governmental Regulation	76
	4.14	 	Margin Stock	77
	4.15	 	Employee Matters	77
	4.16	 	Employee Benefit Plans	77
	4.17	 	Solvency	78
	4.18	 	Compliance with Statutes, etc.	78
	4.19	 	Disclosure	78
	4.20	 	Terrorism Laws, FCPA and Sanctions	79
	4.21	 	Insurance	79
	4.22	 	Intellectual Property	79
	4.23	 	Permits, etc.	80
	4.24	 	EEA Financial Institutions	80
	 	 	 	 
	SECTION 5.
	 
	AFFIRMATIVE COVENANTS
	 
	5.1	 	Financial Statements and Other Reports	80
	5.2	 	Existence	83
	5.3	 	Payment of Taxes and Claims	83
	5.4	 	Maintenance of Properties	83
	5.5	 	Insurance	83
	5.6	 	Books and Records; Inspections	84
	5.7	 	Compliance with Laws	84
	5.8	 	Environmental	84
	5.9	 	Additional Guarantors	85
	5.10	 	Designation of Restricted and Unrestricted Subsidiaries	85
	5.11	 	Ratings	86
	5.12	 	Use of Proceeds	86
	5.13	 	Ownership of CIT Bank	86

    	-ii-

    	

    

	 	 	 	Page
	 	 	 	 
	SECTION 6.
	 
	NEGATIVE COVENANTS
	 
	6.1	 	Liens	86
	6.2	 	Restricted Payments	88
	6.3	 	Financial Covenants	89
	6.4	 	Merger, Consolidation or Sale of All or Substantially All Assets	90
	6.5	 	Negative Pledges	91
	 	 	 	 
	SECTION 7.
	 
	GUARANTY
	 
	7.1	 	Guaranty of the Obligations	91
	7.2	 	Contribution by Guarantors	92
	7.3	 	Payment by Guarantors	92
	7.4	 	Liability of Guarantors Absolute	93
	7.5	 	Waivers by Guarantors	94
	7.6	 	Guarantors’ Rights of Subrogation, Contribution, etc.	95
	7.7	 	Subordination of Other Obligations	96
	7.8	 	Continuing Guaranty	96
	7.9	 	Authority of Guarantors or Borrower	96
	7.10	 	Financial Condition of Borrower	96
	7.11	 	Bankruptcy, etc.	96
	7.12	 	Discharge of Guaranty Upon Sale of Guarantor	97
	7.13	 	Taxes	97
	 	 	 	 
	SECTION 8.
	 
	EVENTS OF DEFAULT
	 
	8.1	 	Events of Default	97
	 	 	 	 
	SECTION 9.
	 
	AGENTS
	 
	9.1	 	Appointment of Administrative Agent, Arrangers and Other Agents	100
	9.2	 	Powers and Duties	100
	9.3	 	General Immunity	101
	9.4	 	Agents Entitled to Act as Lender	103
	9.5	 	Lenders’ Representations, Warranties and Acknowledgment	103
	9.6	 	Right to Indemnity	104
	9.7	 	Successor Administrative Agent	104
	9.8	 	Proofs of Claim	105
	9.9	 	Arrangers and Other Agents	106
	9.10	 	Tax Indemnification	106
	9.11	 	Pay-Off Letter	106
	9.12	 	Certain ERISA Matters	107

    	-iii-

    	

    

	 	 	 	Page
	 	 	 	 
	SECTION 10.
	 
	MISCELLANEOUS
	 
	10.1	 	Notices	108
	10.2	 	Expenses	110
	10.3	 	Indemnity	111
	10.4	 	Set Off	112
	10.5	 	Amendments and Waivers	112
	10.6	 	Successors and Assigns; Participations	114
	10.7	 	Survival of Representations, Warranties and Agreements	117
	10.8	 	No Waiver; Remedies Cumulative	117
	10.9	 	Marshalling; Payments Set Aside	118
	10.10	 	Severability	118
	10.11	 	Obligations Several; Independent Nature of Lenders’ Rights	118
	10.12	 	Headings	118
	10.13	 	APPLICABLE LAW	118
	10.14	 	CONSENT TO JURISDICTION	119
	10.15	 	WAIVER OF JURY TRIAL	119
	10.16	 	Confidentiality	120
	10.17	 	Usury Savings Clause	121
	10.18	 	Guaranty	121
	10.19	 	Patriot Act	122
	10.20	 	Disclosure	122
	10.21	 	Electronic Execution of Assignments	122
	10.22	 	No Fiduciary Duty	123
	10.23	 	Entire Agreement	123
	10.24	 	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	123
	 	 	 	 

	APPENDICES:	 	A	 	Notice Addresses
	 	 	 	 	 
	SCHEDULES:	 	1.1B	 	Aircraft Registration Jurisdictions
	 	 	1.1C	 	L/C Subsidiaries
	 	 	1.1D	 	Regulated Subsidiaries
	 	 	2.1	 	Commitments and L/C Issuer Sublimit
	 	 	4.1	 	Jurisdictions of Organization and Qualification
	 	 	4.2	 	Capital Stock and Ownership
	 	 	5.10	 	Unrestricted Subsidiaries
	 	 	 	 	 
	EXHIBITS:	 	A-1	 	Funding Notice
	 	 	A-2	 	Conversion/Continuation Notice
	 	 	A-3	 	Notice of Prepayment
	 	 	B	 	Revolving Loan Note
	 	 	C	 	Compliance Certificate
	 	 	D	 	Assignment Agreement
	 	 	E	 	Certificates Regarding Non-Bank Status
	 	 	F-1	 	Closing Certificate
	 	 	F-2	 	Solvency Certificate
	 	 	G	 	Guarantor Counterpart Agreement

    	-iv-

    	

    

	 	 	H	 	Administrative Questionnaire
	 	 	I	 	Intercompany Subordination Agreement
	 	 	J	 	Guarantor Asset Coverage Ratio Certificate

    	-v-

    	

    

SECOND AMENDED AND RESTATED

REVOLVING CREDIT AND GUARANTY AGREEMENT

 

This SECOND AMENDED AND RESTATED
REVOLVING CREDIT AND GUARANTY AGREEMENT, dated as of February 17, 2016, as amended as of February 16, 2018, is entered into
by and among CIT GROUP INC., a Delaware corporation (“Borrower”), CERTAIN SUBSIDIARIES OF BORROWER,
as Guarantors, the Lenders party hereto from time to time and BANK OF AMERICA, N.A., as Administrative Agent (in such capacity,
or any successor thereto pursuant to the terms hereof, “Administrative Agent”) and L/C Issuer.

 

RECITALS:

 

WHEREAS, capitalized terms used in
these Recitals shall have the respective meanings set forth for such terms in Section 1.1 hereof;

 

WHEREAS, Borrower, the Lenders party
thereto, Bank of America, N.A., as administrative agent, and the other parties thereto are parties to that certain Amended and
Restated Credit Agreement, dated as of January 27, 2014 (as amended prior to the Closing Date, the “Prior Credit Agreement”);
and

 

WHEREAS, (a) Borrower has requested
that (i) the Prior Credit Agreement be amended and restated as provided herein and (ii) from and after the Closing Date, the Lenders
provide revolving credit facilities and the L/C Issuers issue letters of credit pursuant to the terms hereunder; and (b) the Lenders
party hereto have indicated their willingness to so to extend such credit, and the L/C Issuers have indicated their willingness
to issue Letters of Credit, in each case, on the terms and subject to the conditions set forth herein; and

 

WHEREAS, Guarantors have agreed to
guarantee the obligations of Borrower hereunder, in each case, on the terms and subject to the conditions set forth herein.

 

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

 

SECTION
1.

DEFINITIONS AND INTERPRETATION

 

1.1          Definitions.

 

The following terms used herein, including
in the preamble, recitals, exhibits and schedules hereto, shall have the following meanings:

 

“23A Transaction” means
any transfer or transfers of assets of Borrower or any Restricted Subsidiary to any Banking Subsidiary pursuant to waivers of or
exemptions from Section 23A of the Federal Reserve Act or any comparable statute, and the rules or regulations promulgated thereunder.

 

“Acceptable Collateralization”
means, at the L/C Issuer’s election, (i) cash collateralization of all L/C Obligations arising under Letters of Credit issued
by the L/C Issuer in an aggregate amount equal to percentages of such L/C Obligations reasonably acceptable to the L/C Issuer and
pursuant to pledge documentation reasonably satisfactory to the L/C Issuer, (ii) issuance to the L/C

    	 

    	

    

Issuer of back-to-back letters of credit from one or more financial
institutions reasonably acceptable to the L/C Issuer with aggregate face amounts equal to percentages of such L/C Obligations reasonably
acceptable to the L/C Issuer and in form reasonably satisfactory to the L/C Issuer or (iii) to the extent requested by Borrower,
the “grandfathering” of all Letters of Credit issued by the L/C Issuer under a replacement revolving credit facility
reasonably acceptable to the L/C Issuer.

 

“Acceptance Credit” means
a commercial Letter of Credit in which the L/C Issuer engages with the beneficiary of such Letter of Credit to accept a time draft.

 

“Adjusted LIBOR Rate” means:

 

(a)          for any Interest Rate Determination
Date with respect to an Interest Period for a LIBOR Rate Loan, the rate per annum obtained by dividing (i) the rate per annum (rounded
to the nearest one hundredth of one percent (1/100 of 1%)) equal to the rate determined by Administrative Agent to be the LIBOR
Screen Rate or a comparable or successor rate, which comparable or successor rate is approved by the Administrative Agent, acting
reasonably, determined at or about 11:00 a.m. (London, England time) on such Interest Rate Determination Date, by (ii) an amount
equal to (x) one, minus (y) the Applicable Reserve Requirement; and

 

(b)          for any interest calculation
with respect to a Base Rate Loan, to the extent applicable thereto, on any date, the rate per annum equal to the LIBOR Screen Rate,
determined at or about 11:00 a.m. (London, England time) on the applicable Interest Rate Determination Date in respect of such
date, for U.S. Dollar deposits with an Interest Period of one month commencing that date;

 

provided that to the extent a comparable
or successor rate is approved by the Administrative Agent in connection herewith, the approved rate shall be applied in a manner
consistent with customary market practice; provided, further, that, to the extent such market practice is not administratively
feasible for the Administrative Agent, such approved rate shall be applied in a manner as otherwise reasonably determined by the
Administrative Agent in accordance with customary practice; provided, further, that the Adjusted LIBOR Rate shall be deemed
to be not less than 0.00%.

 

“Administrative Agent”
as defined in the preamble hereto.

 

“Administrative Agent Affiliates”
has the meaning set forth in Section 10.1(b)(iii).

 

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

 

“Administrative Questionnaire”
means an Administrative Questionnaire in substantially the form of Exhibit H or any other form approved by the Administrative Agent.

 

“Adverse Proceeding” means
any action, suit, proceeding (whether administrative, judicial or otherwise), governmental investigation or arbitration (whether
or not purportedly on behalf of Borrower, any Restricted Subsidiary or any U.S. Banking Subsidiary) at law or in equity, or before
or by any Governmental Authority, domestic or foreign (including any Environmental Claims) or other regulatory body or any arbitrator,
whether pending or, to the best knowledge of any Relevant Officer of Borrower, any Restricted Subsidiary or any U.S. Banking Subsidiary,
threatened in writing, against or affecting Borrower, any Restricted Subsidiary or any U.S. Banking Subsidiary or any property
of Borrower, any Restricted Subsidiary or any U.S. Banking Subsidiary.

    	-2-

    	

    

“Affected Lender” as defined
in Section 2.14(c).

 

“Affected Loans” as defined
in Section 2.14(c).

 

“Affiliate” of any specified
Person means any other Person, directly or indirectly, controlling or controlled by, or under direct or indirect common control
with, such specified Person. For purposes of this definition, “control,” as used with respect to any Person, means
the possession, directly or indirectly, of the power to direct, or cause the direction of, the management or policies of such Person,
whether through the ownership of voting securities, by agreement or otherwise. For purposes of this definition, the terms “controlling,”
“controlled by” and “under common control with” have correlative meanings. Notwithstanding anything to
the contrary herein, in no event shall the Administrative Agent, any Arranger, Other Agent or (other than for purposes of the definition
of “Eligible Assignee”) Lender, or any Person acquired or formed in connection with a workout, restructuring or foreclosure
in the Ordinary Course of Business, be considered an “Affiliate” of any Credit Party.

 

“Aggregate Payments” as
defined in Section 7.2.

 

“Agreement” means this
Second Amended and Restated Revolving Credit and Guaranty Agreement and any annexes, exhibits, and schedules to any of the foregoing,
in each case, as amended, amended and restated, supplemented or otherwise modified from time to time.

 

“Alternative Currency”
means each of Euros, Sterling, Thai Baht, Hong Kong Dollars, Canadian Dollars, Mexican Pesos and Indian Rupees, and each other
currency (other than Dollars) that is approved in accordance with Section 1.5.

 

“Alternative Currency Equivalent”
means, at any time, with respect to any amount denominated in Dollars, the equivalent amount thereof in the applicable Alternative
Currency as determined by the Administrative Agent or the L/C Issuer, as the case may be, at such time on the basis of the Spot
Rate (determined in respect of the most recent Revaluation Date) for the purchase of such Alternative Currency with Dollars.

 

“Amendment No. 1” means
Amendment No. 1 to this Agreement, dated as of February 27, 2017, by and among the Borrower, the Guarantors, the Administrative
Agent and the Lenders.

 

“Amendment No. 2” means
Amendment No. 2 to this Agreement, dated as of February 16, 2018, by and among the Borrower, the Guarantors, the Administrative
Agent and the Lenders.

 

“Amendment No. 2 Effective Date”
has the meaning specified in Amendment No. 2, which date is February 16, 2018.

 

“Applicable Cash Collateralization
Percentage” means (i) in the case of L/C Obligations denominated in Dollars, 100% (or 105% for purposes of the last paragraph
of Section 8.1 and clause fifth of Section 2.12(f)), (ii) in the case of L/C Obligations denominated in Euro or Sterling, 115%
(or 105% to the extent the Borrower provides (and Bank of America determines to accept) Cash Collateral for such L/C Obligations
in the same currency in which the underlying Letter of Credit is denominated in a domestic account at Bank of America), and (iii)
in the case of L/C Obligations denominated in Thai Baht, Hong Kong Dollars, Canadian Dollars, Mexican Pesos, Indian Rupees or any
other currency, 120% (or 105% to the extent the Borrower provides (and Bank of America determines to accept) Cash Collateral for
such L/C Obligations in the same currency in which the underlying Letter of Credit is denominated in a domestic account at Bank
of America).

    	-3-

    	

    

“Applicable Margin” means
the applicable percentage per annum set forth below determined by reference to the applicable Pricing Level, which is Pricing Level
III as of the Closing Date. Any change in the Pricing Level shall be effective promptly after (i) public announcement of any change
of Borrower’s Debt Rating or (ii) delivery of written notice of any change of Borrower’s Debt Rating by Borrower to
the Administrative Agent. In the case where two of the ratings are in the equivalent rating category (rating category includes
a +, -, 1, 2 or 3 signifier) (the “Equivalent Rating”) and the third rating is not, (i) if the third rating
is no more than one rating category different from the Equivalent Ratings, the Pricing Level corresponding to the rating category
of the Equivalent Ratings will apply; (ii) if the third rating is two or more rating categories higher than the Equivalent Ratings,
the Pricing Level for the rating one rating category higher than the Equivalent Ratings will apply; and (iii) if the third rating
is two or more rating categories lower than the Equivalent Ratings, the Pricing Level for the rating one rating category lower
than the Equivalent Ratings will apply. In the case where all three ratings are in different rating categories, the Pricing Level
for the middle rating will apply, except that (i) if the highest rating differs from the middle rating by at least two rating categories
more than the lowest rating differs from the middle rating, then the Pricing Level for the rating one rating category higher than
the middle rating will apply, and (ii) if the lowest rating differs from the middle rating by at least two categories more than
the highest rating differs from the middle rating, then the Pricing Level for the rating one rating category lower than the middle
rating will apply. If only two (but not three) Debt Ratings are in effect, the Applicable Margin shall be, (x) in the case of a
split rating and the ratings differential is one rating category, the Pricing Level for the higher rating and (y) in the case of
a split rating and the ratings differential is more than one rating category, the Pricing Level for the rating that is one rating
category higher than the lower rating. If only one (but not two or three) Debt Rating is in effect, the Applicable Margin shall
be determined by reference to the Pricing Level in which such rating falls. If no Debt Rating is in effect, then each of S&P,
Moody’s and Fitch shall be deemed to have established a rating in Pricing Level V.

 

	Pricing Level	Debt Rating

(S&P/Moody’s/Fitch)	Applicable Margin for 

LIBOR Rate Loans	Applicable Margin for 

Base Rate Loans
	I	≥ BBB- / Baa3 / BBB-	1.750%	0.750%
	II	BB+ / Ba1 / BB+	2.000%	1.000%
	III	BB / Ba2 / BB	2.250%	1.250%
	IV	BB- / Ba3 / BB-	2.500%	1.500%
	V	≤ B+ / B1 / B+	2.750%	1.750%

 

“Applicable Percentage”
means, (a) with respect to any Lender under any Tranche at any time, the percentage (carried out to the ninth decimal place) of
the aggregate Commitments of such Tranche represented by such Lender’s Commitment under such Tranche at such time, subject
to adjustment as provided in Section 2.18, provided that if the Commitments under such Tranche have been terminated, then
the Applicable Percentage of each Lender under such Tranche shall be based on the Applicable Percentage of such Lender most recently
in effect, giving effect to any subsequent assignments, and (b) with respect to any Lender at any time, the percentage (carried
out to the ninth decimal place) of the Total Commitments represented by such Lender’s Commitments at such time, subject to
adjustment as provided in Section 2.18, provided that if the Commitments have been terminated, then the Applicable Percentage
of each Lender shall be based on the Applicable Percentage of such Lender most recently in effect, giving effect to any subsequent
assignments. The initial Applicable Percentage of each Lender is set forth opposite the name of such Lender on Schedule 2.1 or
in the Assignment Agreement pursuant to which such Lender becomes a party hereto, as applicable.

    	-4-

    	

    

“Applicable Reserve Requirement”
means, at any time, for any LIBOR Rate Loan, the maximum rate, expressed as a decimal, carried out to five decimal places, at which
reserves (including any basic, marginal, special, supplemental, emergency or other reserves) are required to be maintained with
respect thereto against “Eurocurrency Liabilities” (as such term is defined in Regulation D) under regulations issued
from time to time by the Board of Governors of the Federal Reserve System or other applicable banking regulator. Without limiting
the effect of the foregoing, the Applicable Reserve Requirement shall reflect any other reserves required to be maintained by such
member banks with respect to (i) any category of liabilities which includes deposits by reference to which the applicable Adjusted
LIBOR Rate or any other interest rate of a Loan is to be determined, or (ii) any category of extensions of credit or other assets
which include LIBOR Rate Loans. A LIBOR Rate Loan shall be deemed to constitute Eurocurrency Liabilities and, as such, shall be
deemed subject to reserve requirements without benefits of credit for proration, exceptions or offsets that may be available from
time to time to the applicable Lender. The rate of interest on LIBOR Rate Loans shall be adjusted automatically on and as of the
effective date of any change in the Applicable Reserve Requirement.

 

“Applicable Time” means,
with respect to any payments in any Alternative Currency, the local time in the place of settlement for such Alternative Currency,
as may be determined by the Administrative Agent or the L/C Issuer, as the case may be, to be necessary for timely settlement on
the relevant date in accordance with normal banking procedures in the place of payment.

 

“Appraised Value” means,
with respect to any aircraft, railcar or locomotive, the current market value of such aircraft, railcar or locomotive as determined
in a “desktop” appraisal. For the avoidance of doubt, such appraisal shall not be based on forward-looking assumptions
about the market environment.

 

“Approved Electronic Communications”
means any notice, demand, communication, information, document or other material that any Credit Party provides to the Administrative
Agent pursuant to any Credit Document or the transactions contemplated therein which is distributed to the Administrative Agent
or to Lenders by means of electronic communications pursuant to Section 10.1(b).

 

“Arranger” means each of
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Bank PLC, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities
Inc., JPMorgan Chase Bank, N.A. and Morgan Stanley Senior Funding, Inc. in its respective capacity as joint lead arranger and joint
bookrunner.

 

“Assignment Agreement”
means an Assignment and Assumption Agreement substantially in the form of Exhibit D, with such amendments or modifications as may
be approved by Administrative Agent (including electronic documentation generated by use of an electronic platform).

 

“Assignment Effective Date”
as defined in Section 10.6(b).

 

“Assignment Tax” as defined
in the definition of Other Taxes.

 

“Attributable Indebtedness”
in respect of a Sale and Leaseback Transaction, means, as of the date of determination thereof, without duplication, the present
value (discounted at the rate per annum equal to the rate of interest implicit in the lease involved in such Sale and Leaseback
Transaction, as determined in good faith by Borrower) of the obligation of the lessee thereunder for rental payments (excluding,
however, any amounts required to be paid by such lessee, whether or not designated as rent or additional rent, cost or expense
reimbursement or indemnity on account of maintenance and repairs, insurance, taxes, assessments, water rates or similar charges
or any amounts required to be paid by such lessee thereunder contingent upon the amount of sales or similar contingent amounts)
during the

    	-5-

    	

    

remaining term of such lease (including any period for which
such lease has been extended or may, at the option of the lessor, be extended). In the case of any lease which is terminable by
the lessee upon the payment of a penalty, such rental payments shall also include the amount of such penalty, but no rental payments
of any kind shall be considered as required to be paid under such lease subsequent to the first date upon which it may be terminated
without penalty.

 

“Authorized Officer” means,
as applied to any Person, any individual holding the position of chairman of the board (if an officer), chief executive officer,
president, chief financial officer, chief accounting officer, controller, deputy controller, director-controller (or any comparable
designation), treasurer, assistant treasurer or director-treasury (or any comparable designation), in each case, whose signatures
and incumbency have been certified to Administrative Agent.

 

“Auto-Extension Letter of Credit”
as defined in Section 2.20(b)(iii).

 

“Availability Period” means,
with respect to any Series of Commitments, the period from and including the Closing Date to the earlier of (i) the applicable
Final Maturity Date of such Series and (ii) the date of termination of the Commitments of such Series in accordance with the terms
of this Agreement.

 

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

 

“Bail-In Legislation” means,
with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council
of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In
Legislation Schedule.

 

“Bank Activities” means
(i) 23A Transactions and (ii) any transfer or transfers of assets, Liens, Indebtedness, subordinations, participations, payments,
assignments, reimbursements, purchases, granting of security interests, perfection thereof, and replacements thereof to secure
obligations, servicing or other agreements, arrangements, transactions or actions by Borrower or any Restricted Subsidiary or any
other Person in favor of any Banking Subsidiary required to be taken or which would be prudent or desirable to take in order to
comply with all agreements, arrangements or transactions now and hereafter entered into between any of Borrower or any Restricted
Subsidiary or any other Person and any Banking Subsidiary, or any Banking Subsidiary and/or its regulators, and all laws, federal,
state, foreign and local statutes, rules, guidelines, regulations, codes, executive orders and administrative or judicial precedents
or authorities, including the interpretation thereof by any Governmental Authority charged with the enforcement, interpretation
or administration thereof, and all administrative orders, directed duties, requests, licenses and agreements with such Governmental
Authorities, whether or not having the force of law, all arising from or relating to or connected with any Banking Subsidiary,
together with all contractual indemnifications in connection with each of the above, and any and all actions undertaken in connection
with any of the foregoing activities.

 

“Bank of America” means
Bank of America, N.A. and its successors and assigns.

 

“Bankers’ Acceptance”
means a time draft, drawn by the beneficiary under a commercial Letter of Credit and accepted by the L/C Issuer upon presentation
of documents by the beneficiary of an Acceptance Credit pursuant to Section 2.20, in the standard form for bankers’ acceptances
of the L/C Issuer.

    	-6-

    	

    
“Banking Subsidiary”
means, collectively, (i) CIT Bank and any other chartered or licensed banking institution that is authorized to take deposits
and a Subsidiary of Borrower from time to time, and (ii) any Subsidiary of a Person described in clause (i).

 

“Bank Regulatory Agency” means,
with respect to CIT Bank, the “appropriate federal banking agency” with respect to such Person as defined in Section
3(q) of the Federal Deposit Insurance Act.

 

“Bankruptcy Code” means
Title 11 of the United States Code entitled “Bankruptcy,” as now and hereafter in effect, or any successor statute.

 

“Base Rate” means for any
day a fluctuating rate per annum equal to the highest of (a) the Federal Funds Effective Rate plus 1/2 of 1%, (b) the rate of interest
in effect for such day as publicly announced from time to time by Bank of America as its “prime rate,” and (c) the
Adjusted LIBOR Rate plus 1.00%. The “prime rate” is a rate set by Bank of America based upon various factors including
Bank of America’s costs and desired return, general economic conditions and other factors, and is used as a reference point
for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such prime rate announced by
Bank of America shall take effect at the opening of business on the day specified in the public announcement of such change.

 

“Base Rate Loan” means
a Loan bearing interest at a rate determined by reference to the Base Rate.

 

“Beneficial Owner” has
the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating the
beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act),
such “person” will be deemed to have beneficial ownership of all securities that such “person” has
the right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is
exercisable only after the passage of time. The terms “Beneficially Owns” and “Beneficially Owned”
have a corresponding meaning.

 

“Beneficiary” means the
Administrative Agent, Arranger, the L/C Issuer, Other Agent, Lender and any agents or sub-agents appointed by Administrative Agent
pursuant to Section 9.3(h).

 

“Benefit Plan” means any
of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I of ERISA, (b) a “plan”
as defined in Section 4975 of the Internal Revenue Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42)
or otherwise for purposes of Title I of ERISA or Section 4975 of the Internal Revenue Code) the assets of any such “employee
benefit plan” or “plan”.

 

“Board of Directors” means:

 

(1)          with respect to a corporation,
the board of directors of the corporation or any committee thereof duly authorized to act on behalf of such board;

 

(2)          with respect to a partnership,
the board of directors of the general partner of the partnership;

 

(3)          with respect to a limited
liability company, the board of directors, the managing member or members or any committee of managing members thereof designated
to manage and direct the business of such limited liability company; and

    	-7-

    	

    

(4)          with respect to any other
Person, the board or committee of such Person serving a similar function.

 

“Borrower” as defined in
the preamble hereto.

 

“Borrowing” means Loans
of the same type and, in the case of LIBOR Rate Loans, having the same Interest Period made or continued by the Lenders pursuant
to Sections 2.1(a) or 2.6(a), respectively.

 

“Business Day” means (i)
any day excluding Saturday, Sunday and any day which is a legal holiday under the laws of the State of New York or is a day on
which banking institutions located in such state are authorized or required by law or other governmental action to close, and (ii)
with respect to all notices, determinations, fundings and payments in connection with the Adjusted LIBOR Rate or any LIBOR Rate
Loans, means any day which is a Business Day described in clause (i) and which is also a day for trading by and between banks in
Dollar deposits in the London interbank market.

 

“Capital Lease” means,
as applied to any Person, any lease of (or other arrangement conveying the right to use) any property (whether real, personal or
mixed) by that Person as lessee (or the equivalent) that, in conformity with GAAP, is or is required to be accounted for as a capital
lease on the balance sheet of that Person.

 

“Capital Lease Obligation”
means, at the time any determination is to be made, the amount of the liability in respect of a Capital Lease that would at that
time be required to be capitalized on a balance sheet prepared in accordance with GAAP, and the final maturity thereof shall be
the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may
be prepaid by the lessee without payment of a premium or penalty.

 

“Capital Stock” means:

 

(1)          in the case of a corporation,
corporate stock;

 

(2)          in the case of an association
or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate
stock;

 

(3)          in the case of a partnership
or limited liability company, partnership interests (whether general or limited) or membership interests; and

 

(4)          any other interest or participation
that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing
Person, but excluding from all of the foregoing any debt securities convertible into Capital Stock, whether or not such debt securities
include any right of participation with Capital Stock.

 

“Carrying Value” means
the book value (net of any specific reserves) determined in accordance with GAAP as in effect on the Prior Credit Agreement Date,
inclusive of fresh start accounting (“FSA”) adjustments recorded upon emergence of Borrower from bankruptcy
and accretion and amortization of the FSA adjustments recorded since the date of such emergence; provided, that if there
is a change in GAAP after the Prior Credit Agreement Date that would change the Carrying Value of aircraft, railcars or locomotives,
Borrower may, in its sole discretion, elect within 30 days of the effectiveness of such change in GAAP (the “GAAP Change
Date”) (which election may be made only once during the term of this Agreement) to define, from and after the GAAP Change
Date, Carrying

    	-8-

    	

    
Value of aircraft, railcars and
locomotives as their Appraised Value as determined by a Qualified Appraiser within the six months preceding the date on which
Carrying Value is being determined.

 

“Cash” means money, currency
or a credit balance in any demand or deposit account.

 

“Cash Collateralize” means
to pledge and deposit with or deliver to the Administrative Agent, for the benefit of the L/C Issuer and the Tranche 2 Lenders,
as collateral for the L/C Obligations, cash or deposit account balances on terms and pursuant to documentation in form and substance
reasonably satisfactory to the Administrative Agent and the L/C Issuer (which documents are hereby consented to by the Lenders),
pursuant to which Borrower shall grant to the Administrative Agent, for the benefit of the L/C Issuer and the Tranche 2 Lenders,
a security interest in all such cash, deposit accounts and all balances therein and all proceeds of the foregoing. Derivatives
of such term have corresponding meanings. Cash Collateral shall be maintained in blocked, non-interest bearing deposit accounts
at Bank of America.

 

“Cash Equivalents” means,
as at any date of determination, (i) marketable securities and repurchase agreements for marketable securities (a) issued or directly
and unconditionally guaranteed as to interest and principal by the United States government, or (b) issued by any agency of the
United States, the obligations of which are backed by the full faith and credit of the United States, in each case, maturing within
one year after such date; (ii) marketable direct obligations issued by any state of the United States or any political subdivision
of any such state or any public instrumentality thereof, in each case, maturing within one year after such date and having, at
the time of the acquisition thereof, a rating of at least A-1 from S&P or at least P-1 from Moody’s; (iii) commercial
paper maturing no more than one year from the date of issuance thereof and having, at the time of the acquisition thereof, a rating
of at least A-1 from S&P or at least P-1 from Moody’s; (iv) time deposits or bankers’ acceptances maturing within
one year after such date and issued or accepted by any Lender or by any commercial bank (including any branch of a commercial bank)
that (a) in the case of a commercial bank organized under the laws of the United States of America, any state thereof or the District
of Columbia is at least “adequately capitalized” (as defined in the regulations of its primary Federal banking regulator),
and has Tier 1 capital (as defined in such regulations) of not less than $100,000,000 or (b) in the case of any other commercial
bank has a short-term commercial paper rating from S&P of at least A-1 or from Moody’s of at least P-1; and (v) shares
of any money market mutual fund that has (a) net assets of not less than $500,000,000, and (b) ratings of at least AA or Aa from
S&P or Moody’s, respectively.

 

“Certificate Regarding Non-Bank Status”
means a certificate substantially in the form of Exhibit E-1, E-2, E-3 or E-4, as applicable.

 

“Change of Control” means
the occurrence of any of the following:

 

(1)          any “person”
or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the Beneficial Owner
of more than 50% of the total outstanding Voting Capital Stock of Borrower (measured by voting power rather than the number of
shares); or

 

(2)          Borrower consolidates with
or merges with or into any Person or sells, assigns, conveys, transfers, leases or otherwise disposes of all or substantially all
of its assets to any such Person, or any such Person consolidates with or merges into or with Borrower, in any such event, pursuant
to a transaction in which the outstanding Voting Capital Stock of Borrower is converted into or exchanged for cash, securities
or other property, other than any such transaction where:

    	-9-

    	

    

(A)          the
Voting Capital Stock of Borrower outstanding immediately prior to such transaction is changed into or exchanged for Voting
Capital Stock (other than Disqualified Stock) of the surviving corporation constituting a majority of the outstanding shares
of such Voting Capital Stock (measured by voting power rather than the number of shares) of such surviving corporation
(immediately after giving effect to such issuance); and

 

(B)          immediately after such transaction,
no “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) is the
Beneficial Owner of more than 50% of the total outstanding Voting Capital Stock (measured by voting power rather than the number
of shares) of the surviving corporation.

 

“CIT Bank” means CIT Bank,
N.A., a national banking association organized under the laws of the United States of America (including, without limitation, any
chartered or licensed banking institution that is authorized to take deposits which is merged with or into CIT Bank or which is
the successor in interest to CIT Bank).

 

“Closing Certificate” means
a Closing Certificate substantially in the form of Exhibit F-1.

 

“Closing Date” means February
17, 2016, the first date all the conditions precedent in Section 3.1 are satisfied or waived in accordance with Section 10.5.

 

“Commitment” means any
Tranche 1 Commitment or any Tranche 2 Commitment.

 

“Commitment Fee” as defined
in Section 2.8(a)(i).

 

“Commitment Rate Percentage”
shall be, at any time, the rate per annum set forth in the table below opposite the Utilization Rate:

 

	Utilization Rate	Commitment Rate Percentage
	<33.3%	0.625%
	≥ 33.3% but <66.7%	0.500%
	≥ 66.7%	0.375%

 

“Compliance Certificate”
means a Compliance Certificate substantially in the form of Exhibit C.

 

“Consolidated Net Worth”
means, with respect to any date of determination, total shareholder’s equity of Borrower and its Subsidiaries as of such
date on a consolidated basis determined in accordance with GAAP.

 

“Contractual Obligation”
means, as applied to any Person, any provision of any Security issued by that Person or of any indenture, mortgage, deed of trust,
contract, undertaking, agreement or other instrument to which that Person is a party or by which it or any of its properties is
bound or to which it or any of its properties is subject.

 

“Contributing Guarantors”
as defined in Section 7.2.

    	-10-

    	

    
“Conversion/Continuation Date”
means the effective date of a continuation or conversion, as the case may be, as set forth in the applicable Conversion/Continuation
Notice.

 

“Conversion/Continuation Notice”
means a Conversion/Continuation Notice substantially in the form of Exhibit A-2.

 

“Credit Date” means the
date of a Credit Extension.

 

“Credit Document” means
any of this Agreement, the Notes, if any, each Issuer Document and all other certificates, documents, instruments or agreements
executed and delivered by a Credit Party for the benefit of the Administrative Agent or any Lender in connection herewith.

 

“Credit Extension” means
each of the following: (a) a borrowing of Loans or (b) an L/C Credit Extension.

 

“Credit Party” means each
Person (other than any Agent or any Lender or any representative thereof) from time to time party to a Credit Document.

 

“Debt Rating” means the
long term senior unsecured, non-credit enhanced debt rating of Borrower by S&P, Moody’s and/or Fitch, as applicable.

 

“Debtor Relief Laws” means
the Bankruptcy Code, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium,
rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable
jurisdictions from time to time in effect and affecting the rights of creditors generally.

 

“Default” means any event
that is, or with the passage of time or the giving of notice or both would be, an Event of Default.

 

“Default Rate” means any
interest payable pursuant to Section 2.7.

 

“Defaulting Lender” means,
subject to Section 2.18(b), any Lender that, (a) has failed to (i) perform any of its funding obligations hereunder, including
such Lender’s obligation to fund a Loan hereunder, unless such Lender notifies the Administrative Agent and the Borrower
in writing that such failure is the result of such Lender’s determination that one or more conditions precedent to funding
(each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has
not been satisfied (a “Funding Default”), (ii) pay to the Administrative Agent, the L/C Issuer or any other
Lender any amount required to be paid by it hereunder (including in respect of its participations in Letters of Credit), in each
case, within two Business Days of the date required to be funded by it hereunder or when due, (b) has notified Borrower, the Administrative
Agent or the L/C Issuer in writing that it does not intend to comply with its funding obligations hereunder or under agreements
generally in which it commits to extend credit or has made a public statement to that effect, unless such writing or public statement
relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s
determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be
specifically identified in such writing or public statement) cannot be satisfied, (c) has failed, within three Business Days after
request by the Administrative Agent or the Borrower, to confirm in writing to the Administrative Agent and Borrower that it will
comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender
pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent and Borrower), or (d) has, or
has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii) had
appointed

    	-11-

    	

    
for it a receiver, custodian,
conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or
liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal
regulatory agency acting in such capacity or (iii) become the subject of a Bail-In Action; provided that a Lender shall not
be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct
or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or
provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of
judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate,
disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the Administrative Agent that a
Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above, and of the effective date of such
status, shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender
(subject to Section 2.18(b)) as of the date established therefor by the Administrative Agent in a written notice of such
determination, which shall be delivered by the Administrative Agent to Borrower, the L/C Issuer and each other Lender
promptly following such determination.

 

“Deposit Account” means
a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization,
other than an account evidenced by a negotiable certificate of deposit.

 

“Disqualified Person” means
any Person that has a material line of business substantially similar to a material line of business of Borrower or any subsidiary
on the Prior Credit Agreement Date and designated in writing as a “Disqualified Person” by Borrower in the letter dated
January 27, 2014 and delivered to the Lenders.

 

“Disqualified Stock” means
any Capital Stock that, by its terms (or by the terms of any security into which it is convertible, or for which it is exchangeable,
in each case, at the option of the holder of the Capital Stock), or upon the happening of any event, matures (excluding any maturity
as the result of an optional redemption or prepayment by the issuer thereof) or is mandatorily redeemable, pursuant to a sinking
fund obligation or otherwise, or redeemable at the option of the holder of the Capital Stock, in whole or in part, on or prior
to the date that is 91 days after the Latest Maturity Date, unless such Capital Stock is redeemable solely for or payable solely
in Qualified Equity Interests. Notwithstanding the preceding sentence, any Capital Stock that would constitute Disqualified Stock
solely because the holders of the Capital Stock have the right to require Borrower to repurchase such Capital Stock upon the occurrence
of a change of control or an asset sale will not constitute Disqualified Stock, if the terms of such Capital Stock provide that
the issuer thereof may not repurchase or redeem any such Capital Stock pursuant to such provisions prior to the repayment in full
of the Obligations.

 

“Dollar Equivalent” means,
at any time, (a) with respect to any amount denominated in Dollars, such amount, and (b) with respect to any amount denominated
in any Alternative Currency, the equivalent amount thereof in Dollars, as determined by the Administrative Agent or the L/C Issuer,
as the case may be, at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for
the purchase of Dollars with such Alternative Currency.

 

“Dollars” and the sign
“$” mean the lawful money of the United States.

 

“Domestic Restricted Subsidiary”
means any Restricted Subsidiary that was formed under the laws of the United States or any state of the United States or the District
of Columbia.

 

“EEA Financial
Institution” means (a) any credit institution or investment firm established in any EEA
Member Country which is subject to the supervision of an EEA Resolution

    	-12-

    	

    

Authority, (b) any entity
established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any
financial institution established in an EEA Member Country which is a Subsidiary of an institution described in clauses (a) or
(b) of this definition and is

subject to consolidated supervision with
its parent.

 

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

 

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

 

“Eligible Aircraft” means
aircraft Owned directly by a Guarantor or through a Guarantor’s 100% direct beneficial ownership in a Qualified Owner Trust,
subject to no Liens other than Permitted Aircraft Liens; provided that

 

(i)          no more than 50% of the
Carrying Value of all Eligible Aircraft shall consist of aircraft, other than narrowbody aircraft;

 

(ii)         no more than 35% of the
Carrying Value of all Eligible Aircraft shall consist of aircraft on lease to lessees in any one of the three regions of Emerging
Markets;

 

(iii)        no more than 50% of
the Carrying Value of all Eligible Aircraft shall consist of aircraft registered in Australia;

 

(iv)        no more than 25% of the
Carrying Value of all Eligible Aircraft shall consist of aircraft registered in any other single jurisdiction, other than the
United States, Australia or Canada;

 

(v)         each such aircraft shall
be subject to an operating lease that is in effect with such Guarantor, a Qualified Owner Trust or a Qualified Lease Subsidiary
and was entered into in the ordinary course of business and, to such Guarantor’s knowledge, legally binding and in compliance
in all material respects with all applicable Laws of the jurisdiction in which such operating lease was originated;

 

(vi)        the obligor under such
operating lease shall not be subject to any bankruptcy, insolvency, reorganization, liquidation or similar proceedings and no
payments that are material in amount under such operating lease shall be overdue by more than 60 days;

 

(vii)       all Eligible Aircraft
shall be covered by insurance that is customarily carried and maintained under market practice applicable to such Eligible Aircraft;

 

(viii)      no Eligible Aircraft
shall be subject to any Event of Loss;

 

(ix)         no more than 25% of the
Carrying Value of all Eligible Aircraft shall consist of aircraft leased to a single lessee (including Affiliates of such lessee
for this purpose);

 

(x)          no less than 80% of the
Carrying Value of all Eligible Aircraft shall consist of Preferred Aircraft Types;

    	-13-

    	

    

(xi)        no more than 10% of the
Carrying Value of all Eligible Aircraft shall have an age that is more than 15 years from the date of manufacture;

 

(xii)       each
such aircraft shall be registered in a jurisdiction listed on Schedule 1.1B, and

 

(xiii)      no such aircraft shall
be leased to a lessee that is a Restricted Party; provided that if the lessee becomes a Restricted Party after the date the applicable
aircraft and lease with such lessee were included in the determination of the Guarantor Asset Coverage Ratio, the leasing of such
aircraft to such lessee shall not continue for the later of (x) more than 120 days after the applicable Credit Party becomes aware
of such event and (y) the period the applicable Credit Party is mandatorily prevented by operation of law from repossessing such
aircraft, but in no event longer than 180 days after the applicable Credit Party becomes aware of such event.

 

“Eligible Assignee”
means any Person other than (i) a natural person, (ii) a Disqualified Person or (iii) Borrower or any of its Affiliates; provided
that if the consent of Borrower, the Administrative Agent or the L/C Issuer is required by Section 10.6(c) for an
assignment to such Person, such consent shall have been obtained.

 

“Eligible Finance Receivable”
means any Finance Receivable owned directly by a Guarantor; provided that

 

(i)          such Finance Receivable
shall be graded “Pass” or “Unclassified” (i.e., not “Special Mention,” “Substandard”
or “Doubtful” or similar classification) by the Borrower in its regulatory credit classifications;

 

(ii)         such Finance Receivable
shall not consist of any loan to a Person that is a Restricted Party; provided that if the Person becomes a Restricted Party after
the date the applicable Eligible Finance Receivable was included in the determination of the Guarantor Asset Coverage Ratio, such
Eligible Finance Receivable shall be deemed to be excluded after the later of (x) more than 120 days after the applicable Credit
Party becomes aware of such event and (y) the period the applicable Credit Party is mandatorily prevented by operation of law
from exercising its rights as a creditor, but in no event longer than 180 days after the applicable Credit Party becomes aware
of such event;

 

(iii)        no payments that are
material in amount under such Finance Receivable shall be overdue by more than 60 days or are outstanding past the stated final
maturity;

 

(iv)        such Finance Receivable
shall not be subject to any Liens, other than Permitted Finance Receivable Liens; and

 

(v)         if such Finance Receivable
relates to an aircraft, railcar or locomotive, (x) unless clause (y) applies, such Guarantor shall own or have a first priority
perfected security interest (subject only to Permitted Aircraft Liens or Permitted Railcar Liens) in the entire such aircraft
(including airframe and engines), railcar or locomotive, or if such Finance Receivable relates to the financing of a fractional
interest in an entire aircraft, such Guarantor shall have a first priority perfected security interest (subject only to Permitted
Aircraft Liens) in the entire fractional interest so financed and (y) if such Finance Receivable is a syndicated financing of
aircraft, the collateral agent for such financing shall have a first priority perfected security interest (subject only to Permitted
Aircraft Liens) in the entire such aircraft (including airframe and engines), or if such financing relates to the financing of
a fractional interest in an entire aircraft, the collateral

    	-14-

    	

    

agent for such financing shall have a first priority perfected security
interest (subject only to Permitted Aircraft Liens) in the entire fractional interest so financed.

 

“Eligible Railcar”
means a railcar or locomotive owned directly by a Guarantor, subject to no liens other than Permitted Railcar Liens; provided
that

 

(i)          each such railcar or locomotive
shall be operated in the United States, Canada or Mexico;

 

(ii)         no more than 10% of the
Carrying Value of all Eligible Railcars shall consist of railcars or locomotives located in or subject to an operating lease with
a lessee that is domiciled in Mexico;

 

(iii)        no more than 20% of
the Carrying Value of all Eligible Railcars shall consist of railcars or locomotives located in or subject to an operating lease
with a lessee that is domiciled outside of the United States or Canada;

 

(iv)       
each such railcar or locomotive shall be covered by insurance that is customarily carried and maintained under market
practice applicable to such Eligible Railcar;

 

(v)         no more than 15% of the
Carrying Value of all Eligible Railcars shall consist of railcars or locomotives subject to an operating lease with any single
lessee;

 

(vi)        no less than 85% of the
Carrying Value of all Eligible Railcars shall consist of railcars or locomotives that are Preferred Railcar Types;

 

(vii)       no such railcar or locomotive
shall be subject to any Event of Loss;

 

(viii)      each such railcar or
locomotive shall be subject to an operating lease that is in effect with such Guarantor and was entered into in the ordinary course
of business and, to such Guarantor’s knowledge, legally binding and in compliance in all material respects with all applicable
Laws of the jurisdiction in which such operating lease was originated;

 

(ix)          no such railcar or locomotive
shall be under an operating lease with a lessee that is subject to a bankruptcy, insolvency, reorganization, liquidation or similar
proceedings and no payments that are material in amount under such operating lease shall be overdue by more than 60 days; and

 

(x)          no such railcar or locomotive
shall be leased to a lessee that is a Restricted Party; provided that if the lessee becomes a Restricted Party after the date
the applicable railcar or locomotive and lease with such lessee were included in the determination of the Guarantor Asset Coverage
Ratio, the leasing of such railcar or locomotive to such lessee shall not continue for the later of (x) more than 120 days after
the applicable Credit Party becomes aware of such event and (y) the period the applicable Credit Party is mandatorily prevented
by operation of law from repossessing such railcar or locomotive, but in no event longer than 180 days after the applicable Credit
Party becomes aware of such event.

 

“Emerging Markets” means
(i) the following countries in Asia: China, India, Indonesia, South Korea, Malaysia, Philippines, Sri Lanka, Taiwan,
Thailand and Vietnam; (ii) countries in the European Union whose sovereign credit rating is not BBB- or higher by S&P and
Baa3 or higher by Moody’s, all countries in Africa, Bahrain, Brunei, Bulgaria, Croatia, Israel, Jordan, Kuwait, Qatar,

    	-15-

    	

    

Romania, Russia, Saudi Arabia, Turkey, Ukraine and the United Arab Emirates and (iii) Mexico and all countries in South America
and Central America. Each of clause (i), (ii) and (iii) in this definition constitutes a region of Emerging Markets.

 

“Employee Benefit Plan”
means any “employee benefit plan” as defined in Section 3(3) of ERISA which is or was sponsored, maintained or contributed
to by, or required to be contributed to by, Borrower, any of its Subsidiaries or any of their respective ERISA Affiliates.

 

“EMU Legislation” means
the legislative measures of the European Council for the introduction of, changeover to or operation of a single or unified European
currency.

 

“Environmental Claim”
means any investigation, notice, notice of violation, claim, action, suit, proceeding, demand, abatement order or other order
or directive (conditional or otherwise), by any Governmental Authority or any other Person, arising (i) pursuant to or in connection
with any actual or alleged violation of any Environmental Law; (ii) in connection with any Hazardous Material or any actual or
alleged Hazardous Materials Activity; or (iii) in connection with any actual or alleged environmental damage, injury, threat or
harm to health, safety, natural resources or the environment.

 

“Environmental Laws” means
any and all current or future foreign or domestic, federal or state (or any subdivision of either of them) statutes, ordinances,
orders, rules, regulations, judgments, Governmental Authorizations, or any other requirements of Governmental Authorities relating
to (i) protection of the environment or other environmental matters, including those relating to any Hazardous Materials Activity;
(ii) the generation, use, storage, transportation or disposal of Hazardous Materials; or (iii) occupational safety, health and
industrial hygiene, as it relates to any Hazardous Material, or the protection of human, plant or animal health or welfare, as
they relates to any Hazardous Material.

 

“Equity Interests”
means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any debt security that
is convertible into, or exchangeable for, Capital Stock).

 

“Equivalent Rating” as
defined in the definition of “Applicable Margin”.

 

“ERISA” means the Employee
Retirement Income Security Act of 1974, as amended from time to time, and any successor thereto, in each case, together with the
rules and regulations thereunder.

 

“ERISA Affiliate” means,
as applied to any Person, (i) any corporation which is a member of a controlled group of corporations within the meaning of Section
414(b) of the Internal Revenue Code of which that Person is a member; (ii) any trade or business (whether or not incorporated)
which is a member of a group of trades or businesses under common control within the meaning of Section 414(c) of the Internal
Revenue Code of which that Person is a member; and (iii) any member of an affiliated service group within the meaning of Section
414(m) or (o) of the Internal Revenue Code of which that Person, any corporation described in clause (i) above or any trade or
business described in clause (ii) above is a member. Any former ERISA Affiliate of Borrower or any of its Subsidiaries shall continue
to be considered an ERISA Affiliate of Borrower or any such Subsidiary within the meaning of this definition with respect to the
period such entity was an ERISA Affiliate of Borrower or such Subsidiary and with respect to liabilities arising after such period
for which Borrower or such Subsidiary could be liable under the Internal Revenue Code or ERISA.

 

“ERISA Event” means (i)
a “reportable event” within the meaning of Section 4043 of ERISA and the regulations issued thereunder with respect
to any Pension Plan (excluding those for which

    	-16-

    	

    

the provision for 30-day notice to the
PBGC has been waived by regulation); (ii) the failure to meet the minimum funding standard of Section 412 or 430 of the
Internal Revenue Code with respect to any Pension Plan (whether or not waived in accordance with Section 412(c) of the
Internal Revenue Code) or the failure to make by its due date a required contribution or installment under Section 430(j) of
the Internal Revenue Code with respect to any Pension Plan or the failure to make any required contribution to a
Multiemployer Plan; (iii) notice of intent to terminate a Pension Plan in a distress termination described in Section 4041(c)
of ERISA; (iv) the withdrawal by Borrower, any of its Subsidiaries or any of their respective ERISA Affiliates from any
Pension Plan with two or more non-related contributing sponsors or the termination of any such Pension Plan resulting in
liability to Borrower, any of its Subsidiaries or any of their respective ERISA Affiliates pursuant to Section 4063 or 4064
of ERISA; (v) the institution by the PBGC of proceedings to terminate any Pension Plan, or the occurrence of any event or
condition which might reasonably constitute grounds under ERISA for the termination of, or the appointment of a trustee to
administer, any Pension Plan; (vi) the imposition of liability on Borrower, any of its Subsidiaries or any of their
respective ERISA Affiliates pursuant to Section 4062(e) or 4069 of ERISA or by reason of the application of Section 4212(c)
of ERISA; (vii) the withdrawal of Borrower, any of its Subsidiaries or any of their respective ERISA Affiliates in a complete
or partial withdrawal (within the meaning of Sections 4203 and 4205 of ERISA) from any Multiemployer Plan if there is any
liability or Borrower’s reasonable expectation of liability therefor, or the receipt by Borrower, any of its
Subsidiaries or any of their respective ERISA Affiliates of notice from any Multiemployer Plan that it is in reorganization
or insolvency pursuant to Section 4241 or 4245 of ERISA, or that it intends to terminate or has terminated under Section
4041A or 4042 of ERISA; (viii) the occurrence of an act or omission which could give rise to the imposition on Borrower, any
of its Subsidiaries or any of their respective ERISA Affiliates of fines, penalties, taxes or related charges under Chapter
43 of the Internal Revenue Code or under Section 409, Section 502(c), (i) or (l), or Section 4071 of ERISA in respect of any
Employee Benefit Plan; (ix) the assertion of a material claim (other than routine claims for benefits) against any Employee
Benefit Plan or the assets thereof, or against Borrower, any of its Subsidiaries or any of their respective ERISA Affiliates
in connection with any Employee Benefit Plan; (x) receipt from the Internal Revenue Service of notice of the failure of any
Pension Plan (or any other Employee Benefit Plan intended to be qualified under Section 401(a) of the Internal Revenue Code)
to qualify under Section 401(a) of the Internal Revenue Code, or the failure of any trust forming part of any Pension Plan to
qualify for exemption from taxation under Section 501(a) of the Internal Revenue Code; or (xi) the imposition of a Lien or
security interest pursuant to Section 430(k) of the Internal Revenue Code or pursuant to ERISA or a violation of Section 436
of the Internal Revenue Code with respect to any Pension Plan.

 

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

 

“Event of Default” means
each of the conditions or events set forth in Section 8.1.

 

“Event of Loss” means,
with respect to any property, (i) the actual or constructive total loss of such property or the use thereof resulting from destruction,
damage beyond repair, or the rendition of such property permanently unfit for normal use from any casualty or similar occurrence
whatsoever, (ii) the destruction or damage of a portion of such property, in each case, rendering such property unfit for normal
use, from any casualty or similar occurrence whatsoever under circumstances in which such damage cannot reasonably be expected
to be repaired, or such property cannot reasonably be expected to be restored to its condition immediately prior to such destruction
or damage, within 90 days after the occurrence of such destruction or damage or (iii) the condemnation, confiscation or seizure
of, or requisition of title to or use of, such property, except any such condemnation, confiscation, seizure or requisition that
is reasonably expected to be lifted within 90 days (it being understood that any

    	-17-

    	

    

condemnation, confiscation, seizure or requisition
that continues for 90 days despite such expectation shall be an Event of Loss).

 

“Exchange Act” means the
Securities Exchange Act of 1934, as amended from time to time, and any successor statute.

 

“Excluded Taxes” of a
Person means (a) any Tax imposed on or measured by net income, profits or gain by the jurisdiction in which a Person is organized
or in which that Person’s applicable principal office (and/or, in the case of a Lender, its lending office) is located or
in which that Person (and/or, in the case of a Lender, its lending office) is deemed to be doing business or has a present or
former connection (other than a business or connection arising solely from having executed, delivered, enforced, become a party
to, performed its obligations, received payments, received or perfected a security interest under, and/or engaged in any other
transaction pursuant to, any Credit Document), (b) any Tax in the nature of the branch profits tax imposed by Section 884(a) of
the Internal Revenue Code that is imposed by any jurisdiction described in clause (a) above, (c) any withholding tax that is attributable
to a Lender’s failure to comply with Section 2.16(e), (d) any U.S. federal withholding tax imposed pursuant to Sections
1471 through 1474 of the Internal Revenue Code, as of the Closing Date (or any amended or successor version that is substantively
comparable and not materially more onerous to comply with) and any current or future regulations or official interpretations thereof
(this clause (d) shall be referred to as “FATCA”) and (e) in the case of a Non-U.S. Lender, any U.S. federal
withholding tax imposed pursuant to any laws in effect at the time such Non-U.S. Lender becomes a party to this Agreement (or
designates a new lending office), except to the extent that such Non-U.S. Lender (or its assignor, if any) was entitled, immediately
prior to designation of a new lending office (or assignment), to receive additional amounts from a Credit Party with respect to
such withholding tax pursuant to Section 2.16.

 

“Existing Letters of Credit”
means the letters of credit and bankers’ acceptances issued under the Prior Credit Agreement that are outstanding on the
Closing Date.

 

“Fair Share” as defined
in Section 7.2.

 

“Fair Share Contribution Amount”
as defined in Section 7.2.

 

“FATCA” as defined in
the definition of “Excluded Taxes”.

 

“FASB ASC” means the Accounting
Standards Codification of the Financial Accounting Standards Board.

 

“FDIC” means the Federal
Deposit Insurance Corporation.

 

“Federal Funds Effective Rate”
means, for any day, the rate per annum (expressed, as a decimal, rounded upwards, if necessary, to the next higher one-hundredth
of one percent (1/100 of 1%)) equal to the weighted average of the rates on overnight Federal funds transactions with members
of the Federal Reserve System, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day;
provided, that (i) if such day is not a Business Day, the Federal Funds Effective Rate for such day shall be such rate
on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (ii) if no such
rate is so published on such next succeeding Business Day, the Federal Funds Effective Rate for such day shall be the average
of the quotations on such day received by Administrative Agent from three federal funds brokers of recognized standing selected
by it; provided, further, that the Federal Funds Effective Rate shall be deemed to be not less than 0.00%.

    	-18-

    	

    

“Federal Reserve Act”
means the Federal Reserve Act of 1913, as amended from time to time, and any successor statute.

 

“Final Maturity Date”
means (a) with respect to the Tranche 1N Facility and Tranche 2N Facility, January 25, 2019 and (b) with respect to the Tranche
1E Facility and Tranche 2E Facility, February 29, 2020.

 

“Finance Receivable” means
credit extended to customers through financing arrangements, including, but not limited to, term and revolver loans and financing
leases, but excluding operating leases.

 

“Financial Officer” means,
as applied to any Person, any individual holding the position of chief financial officer, treasurer, assistant treasurer, controller
or deputy controller, in each case, whose signatures and incumbency have been certified to the Administrative Agent.

 

“Fiscal Quarter” means
a fiscal quarter of any Fiscal Year.

 

“Fiscal Year” means the
fiscal year of Borrower and the Restricted Subsidiaries ending on December 31 of each calendar year.

 

“Fitch” means Fitch Ratings
Ltd.

 

“Foreign Subsidiary” means
any Restricted Subsidiary that is not a Domestic Restricted Subsidiary.

 

“Fraudulent Conveyance”
as defined in Section 7.1.

 

“Fronting Exposure” means,
at any time there is a Defaulting Lender, such Defaulting Lender’s Applicable Percentage of the outstanding L/C Obligations
under the applicable Tranche, other than L/C Obligations as to which such Defaulting Lender’s participation obligation has
been reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof.

 

“FSA” as defined in the
definition of “Carrying Value.”

 

“Funding Default” as defined
in the definition of “Defaulting Lender.”

 

“Funding Guarantor” as
defined in Section 7.2.

 

“Funding Notice” means
a notice substantially in the form of Exhibit A-1 or such other form as may be approved by the Administrative Agent (including
any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), completed
and signed by a Relevant Officer of the Borrower.

 

“GAAP” as defined in Section
1.2.

 

“GAAP Change Date” as
defined in the definition of “Carrying Value.”

 

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

    	-19-

    	

    

government (including any
supra-national bodies such as the European Union or the European Central Bank).

 

“Governmental Authorization”
means any permit, license, authorization, plan, directive, consent order or consent decree of or from any Governmental Authority.

 

“Guarantee” means, with
respect to any Person, any obligation, contingent or otherwise, of such Person guaranteeing or having the economic effect of guaranteeing
any Indebtedness of any other Person in any manner, whether directly or indirectly, and including any obligation of the guarantor,
direct or indirect, that is (a) an obligation of such Person the primary purpose or intent of which is to provide assurance to
an obligee that the Indebtedness of the obligor thereof will be paid or discharged, or any agreement relating thereto will be
complied with, or the holders thereof will be protected (in whole or in part) against non-payment or non-discharge in respect
thereof; or (b) a liability of such Person for Indebtedness of another through any agreement (contingent or otherwise) (i) to
purchase, repurchase or otherwise acquire such Indebtedness or any security therefor, or to provide funds for the payment or discharge
of such Indebtedness (whether in the form of loans, advances, stock purchases, capital contributions or otherwise) or (ii) to
maintain the solvency or any balance sheet item, level of income or financial condition of another if, in the case of any agreement
described under subclauses (i) or (ii) of this clause (b), the primary purpose or intent thereof is as described in clause (a)
above.

 

“Guaranteed Obligations”
as defined in Section 7.1.

 

“Guarantor Asset Coverage Ratio”
means, with respect to any date of determination, the ratio of (A) the sum of, without duplication, (i) the Carrying Value of
(1) all Eligible Finance Receivables, (2) all Eligible Aircraft and (3) all Eligible Railcars (provided that, in the case
of each of clauses (1), (2) and (3), Borrower may elect to exclude any asset or any portion thereof from such calculation), plus
(ii) unrestricted Cash and Cash Equivalents owned directly by Guarantors and held in Deposit Accounts and Securities Accounts
at the Administrative Agent or another Lender to (B) the sum of (i) the Total Commitments on such date plus (ii) the aggregate
amount of all outstanding Indebtedness for borrowed money (including, without duplication, Guarantees of such Indebtedness) of
the Guarantors (excluding Subordinated Intercompany Indebtedness) on such date plus, without duplication, commitments under
other credit facilities of the Borrower or any Guarantor; provided that no more than 75% of the amount in clause (A) shall
consist of the Carrying Value of Eligible Aircraft.

 

The Carrying Value of Eligible Finance Receivables,
Eligible Aircraft and Eligible Railcars, as of any date of calculation, shall be the Carrying Value thereof as of the last day
of the most recent month for which the Guarantor Asset Coverage Ratio Certificate has been or was required to be delivered on
or prior to such date of calculation, as adjusted to:

 

(a)          subtract the
sum of the Carrying Value attributed in such calculation to (i) each asset that is disposed of to any Person other than a Guarantor,
(ii) each asset (or any portion thereof) that Borrower determines to exclude from the calculation of Guarantor Asset Coverage
Ratio and (iii) each asset that becomes subject to a Lien other than a Permitted Aircraft Lien, Permitted Finance Receivable Lien
or Permitted Railcar Lien, as applicable, in each case of clauses (i), (ii) and (iii), to the extent occurring after the last
day of the most recent month for which the Officer’s Certificate pursuant to Section 5.1(c) has been or was required to
be delivered on or prior to the date of calculation; provided that no such subtraction pursuant to clause (i) or (iii)
shall be required, unless assets with an aggregate Carrying Value (considering clauses (i) and (iii) together) of more than $50
million are so disposed of or encumbered after the end of the most recent month for which the Officer’s Certificate pursuant
to Section 5.1(c) has been or was required to be delivered on or prior to such date of calculation; and

    	-20-

    	

    

(b)          add the
sum of the Carrying Value of each Eligible Finance Receivable, Eligible Aircraft and Eligible Railcar that Borrower
determines, after the last day of the most recent month for which the Officer’s Certificate pursuant to Section 5.1(c)
has been or was required to be delivered on or prior to such date of calculation, to include in the calculation of the
Guarantor Asset Coverage Ratio; provided that no such addition pursuant to this clause (b) shall be permitted with
respect to any such calculation, unless assets with an aggregate Carrying Value of more than $50 million are so added for
purposes of such calculation.

 

“Guarantor Asset Coverage Ratio
Certificate” means an Officer’s Certificate of a Financial Officer substantially in the form attached hereto as
Exhibit J, which shall include information in reasonable detail demonstrating the calculation of the covenant set forth in Section
6.3(b).

 

“Guarantor Counterpart Agreement”
means a Guarantor Counterpart Agreement substantially in the form of Exhibit G delivered by a Credit Party pursuant to Section
5.9.

 

“Guarantor Ratio Assets”
means, at any time, the assets of the Guarantors included in the calculation of the Guarantor Asset Coverage Ratio at such time.

 

“Guarantors” means:

 

(1)          as of the Amendment No.
2 Effective Date, each of the following Subsidiaries of Borrower:

 

The CIT Group/Equipment Financing,
Inc., a Delaware corporation;

 

C.I.T. Leasing Corporation, a
Delaware corporation;

 

CIT Healthcare LLC, a Delaware
limited liability company;

 

The CIT Group/Business Credit,
Inc., a New York corporation;

 

CIT Capital USA Inc., a Delaware
corporation; and

 

(2)          any other Subsidiary of
Borrower that executes a Guarantor Counterpart Agreement in accordance with the provisions of this Agreement,

 

and their respective successors and assigns,
in each case, until such Person has been released from the Guaranty in accordance with the provisions of this Agreement.

 

“Guaranty” means the guaranty
of each Guarantor set forth in Section 7.

 

“Hazardous Materials”
means any chemical, material or substance, exposure to which is prohibited, limited or regulated by any Environmental Law or Governmental
Authority or which poses a hazard to the health and safety of the owners, occupants or any Persons in the vicinity of any facility
or to the indoor or outdoor environment.

 

“Hazardous Materials Activity”
means any past or current activity, event or occurrence involving any Hazardous Materials, including the use, manufacture, possession,
storage, holding, presence, existence, location, Release, threatened Release, discharge, placement, generation, transportation,
processing, construction, treatment, abatement, removal, remediation, disposal, disposition

    	-21-

    	

    

or handling of any Hazardous Materials,
and any corrective action or response action with respect to any of the foregoing.

 

“Highest Lawful
Rate” means the maximum lawful interest rate, if any, that at any time or from time to time may be contracted for,
charged, or received under the laws applicable to any Lender which are presently in effect or, to the extent allowed by law,
under such applicable Laws which may hereafter be in effect and which allow a higher maximum nonusurious interest rate than
applicable Laws now allow.

 

“Historical Financial Statements”
means (i) the audited consolidated financial statements of Borrower and its Subsidiaries, consisting of a balance sheet and the
related consolidated statements of income, stockholders’ equity and cash flows, as of and for the Fiscal Year ended December
31, 2016, and (ii) unaudited consolidated financial statements of Borrower and its Subsidiaries, consisting of a balance sheet
and the related consolidated statements of income, stockholders’ equity and cash flows, as of and for the nine months ended
September 30, 2017.

 

“Honor Date” as defined
in Section 2.20(c)(i).

 

“IFRS” as defined in the
definition of “GAAP.”

 

“Immaterial Subsidiary”
means, as of any date (unless such Subsidiary is otherwise classified as a Special Purpose Entity, Joint Venture or Regulated
Subsidiary), any Subsidiary (A) that (i) (a) has assets with an aggregate Carrying Value less than $5.0 million, (b) has aggregate
revenues less than $5.0 million for the most recently ended Fiscal Year for which financial statements were delivered pursuant
to Section 5.1 immediately preceding the date on which the calculation is required to be made, and (c) is not integral to the
business or operations of Borrower and its Subsidiaries, taken as a whole (other than Immaterial Subsidiaries), and (ii) has no
Subsidiaries (other than Immaterial Subsidiaries), (B) the Capital Stock of which was acquired in connection with the workout
of assets or exercise of remedies in the Ordinary Course of Business or as the proceeds of collateral securing a loan or other
financing asset or in connection with servicing or managing assets in the Ordinary Course of Business, or (C) whose sole asset
is one or more runoff portfolios or assets acquired in a workout.

 

“Increased Cost Lender”
as defined in Section 2.19.

 

“Indebtedness,” as applied
to any Person, means, without duplication, (i) all indebtedness for borrowed money; (ii) that portion of Capital Lease Obligations
that is properly classified as a liability on a balance sheet in conformity with GAAP; (iii) all obligations of such Person evidenced
by notes, bonds or similar instruments or upon which interest payments are customarily paid and all obligations in respect of
drafts accepted representing extensions of credit whether or not representing obligations for borrowed money; (iv) any obligation
owed for all or any part of the deferred purchase price of property or services (excluding obligations incurred in the Ordinary
Course of Business having a term of less than six (6) months that are not overdue by more than sixty (60) days) which purchase
price is (a) due more than six (6) months from the date of incurrence of the obligation in respect thereof or (b) evidenced by
a note or similar written instrument; (v) all obligations created or arising under any conditional sale or other title retention
agreement with respect to property acquired by such person; (vi) all indebtedness of the type described elsewhere in this definition
secured by any Lien on any property or asset owned or held by that Person regardless of whether such indebtedness secured thereby
shall have been assumed by that Person or is non-recourse to the credit of that Person; (vii) the face amount of any letter of
credit or letter of guaranty issued, bankers’ acceptances facilities, surety bond and similar credit transactions for the
account of that Person or as to which that Person is otherwise liable for reimbursement of drawings or drafts; (viii) the direct
or indirect guaranty, endorsement (otherwise than

    	-22-

    	

    

for collection or deposit in the ordinary
course), co-making, discounting with recourse or sale with recourse by such Person of the obligation of another of the type
described in clauses (i) through (vii) or clauses (xi) through (xiii); (ix) any obligation of such Person the primary purpose
or intent of which is to provide assurance to an obligee that the obligation of the type described in clauses (i) through
(vii) or clauses (xi) through (xiii) of the obligor thereof will be paid or discharged, or any agreement relating thereto
will be complied with, or the holders thereof will be protected (in whole or in part) against non-payment or non-discharge in
respect thereof; (x) any liability of such Person for an obligation of the type described in clauses (i) through (vii) or
clauses (xi) through (xiii) of another through any agreement (contingent or otherwise) (a) to purchase, repurchase or
otherwise acquire such obligation or any security therefor, or to provide funds for the payment or discharge of such
obligation (whether in the form of loans, advances, stock purchases, capital contributions or otherwise) or (b) to maintain
the solvency or any balance sheet item, level of income or financial condition of another if, in the case of any agreement
described under subclause (a) or (b) of this clause (x), the primary purpose or intent thereof is as described in clause (ix)
above; (xi) all obligations of such Person in respect of any exchange traded or over the counter derivative transaction
valued at the termination value thereof, including any Rate Management Transaction, whether entered into for hedging or
speculative purposes; (xii) the maximum fixed redemption or repurchase price of all Disqualified Stock of such Person; and
(xiii) all Attributable Indebtedness of such Person. Indebtedness of any Person shall include the Indebtedness of any
partnership or joint venture in which such Person is a general partner or joint venturer, unless such Indebtedness is
expressly or by operation of law non-recourse to such Person.

 

“Indemnified Liabilities”
means, collectively, any and all liabilities, obligations, losses, damages (including natural resource damages), penalties, claims
(including Environmental Claims), costs (including the costs of any required investigation, study, sampling, testing, abatement,
cleanup, removal, remediation or other response action necessary to remove, remediate, clean up or abate any Hazardous Materials
Activity), expenses and disbursements of any kind or nature whatsoever (including the reasonable fees and disbursements of outside
counsel for Indemnitees in connection with any investigative, administrative or judicial proceeding commenced or threatened by
any Person, whether or not any such Indemnitee shall be designated as a party or a potential party thereto, and any reasonable
fees or expenses incurred by Indemnitees in enforcing this indemnity), whether direct, indirect or consequential and whether based
on any federal, state or foreign laws, statutes, rules or regulations (including securities and commercial laws, statutes, rules
or regulations and Environmental Laws), on common law or equitable cause or on contract or otherwise, that may be imposed on,
incurred by, or asserted against any such Indemnitee, in any manner relating to or arising out of (i) the execution or delivery
of this Agreement, any other Credit Document or any agreement or instrument contemplated hereby or thereby, the performance by
the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated
hereby or thereby (including the Lenders’ agreement to make Credit Extensions or the use or intended use of the proceeds
thereof, or any enforcement of any of the Credit Documents and any refusal by the L/C Issuer to honor a demand for payment under
a Letter of Credit, if the documents presented in connection with such demand do not strictly comply with the terms of such Letter
of Credit); (ii) the statements contained in the commitment letter or proposal letter delivered by any Lender to Borrower with
respect to the transactions contemplated by this Agreement; or (iii) any Environmental Claim against or any Hazardous Materials
Activity relating to or arising from, directly or indirectly, any past or present activity, operation, land ownership, or practice
of Borrower or any of its Subsidiaries.

 

“Indemnified Taxes” means
Taxes other than Excluded Taxes and Other Taxes.

 

“Indemnitee” as defined
in Section 10.3(a).

    	-23-

    	

    

“Indemnitee Related Person”
of an Indemnitee means (1) any controlling Person or controlled Affiliate of such Indemnitee, (2) the respective directors, officers
and employees of such Indemnitee or any of its controlling Persons or controlled Affiliates and (3) the respective agents of such
Indemnitee or any of its controlling Persons or controlled Affiliates, in the case of this clause (3), acting on behalf of or
upon the direction of such Indemnitee, controlling Person or such controlled Affiliate.

 

“Information Platform”
as defined in Section 5.1(k).

 

“Institutional Term Loan”
means any term loan borrowed by Borrower or any Subsidiary that is syndicated in the institutional term loan market.

 

“Interest Payment Date”
means with respect to (i) any outstanding Base Rate Loan, (a) the last day of each Fiscal Quarter, commencing on the first such
date to occur after the Closing Date; and (b) the applicable Final Maturity Date with respect to such Loan; and (ii) any outstanding
LIBOR Rate Loan, the last day of each Interest Period applicable to such Loan; provided that, in the case of any Interest
Period of longer than three (3) months, Interest Payment Date shall also include each date that is three (3) months, or an integral
multiple thereof, after the commencement of such Interest Period.

 

“Interest Period” means,
in connection with a LIBOR Rate Loan, an interest period of one, two, three or six months or, if each applicable Lender agrees,
an interest period of twelve months, as selected by Borrower in the applicable Funding Notice or Conversion/Continuation Notice,
(i) initially, commencing on the Credit Date or Conversion/Continuation Date thereof, as the case may be; and (ii) thereafter,
commencing on the day on which the immediately preceding Interest Period expires; provided that (a) if an Interest Period
would otherwise expire on a day that is not a Business Day, such Interest Period shall expire on the next succeeding Business
Day, unless no further Business Day occurs in such month, in which case such Interest Period shall expire on the immediately preceding
Business Day; (b) any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is
no numerically corresponding day in the calendar month at the end of such Interest Period) shall, subject to clause (c) of this
proviso, end on the last Business Day of a calendar month; and (c) no Interest Period shall extend beyond the applicable Final
Maturity Date with respect to such Loan.

 

“Interest Rate Determination Date”
means, with respect to any Interest Period, the date that is two Business Days prior to the first day of such Interest Period.

 

“Internal Revenue Code”
means the Internal Revenue Code of 1986, as amended to the date hereof and from time to time hereafter, and any successor statute.

 

“Investment” means, with
respect to any Person, all direct or indirect investments by such Person in other Persons (including Affiliates) in the forms
of (i) loans (including Guarantees or other obligations but excluding extensions of trade credit), accounts receivable or deposits
made in the Ordinary Course of Business), (ii) advances or capital contributions (excluding commission, travel and similar advances
to officers and employees made in the Ordinary Course of Business), (iii) purchases or other acquisitions for consideration of
Indebtedness, Equity Interests or other securities, or (iv) any item that is or would be classified as an investment on a balance
sheet prepared in accordance with GAAP. Except as otherwise provided in this Agreement, the amount of an Investment will be determined
at the time the Investment is made and without giving effect to subsequent changes in value.

 

“ISP” means, with respect
to any Letter of Credit, the “International Standby Practices 1998” published by the Institute of International Banking
Law & Practice, Inc. (or such later version thereof as may be in effect at the time of issuance).

    	-24-

    	

    

“Issuer Documents” means
with respect to any Letter of Credit, the Letter of Credit Application, and any other document, agreement and instrument entered
into by the L/C Issuer and the Borrower (or any Subsidiary) in favor of the L/C Issuer (including any authorization for air release
of cargo or release of shipment without surrender of marine bills of lading) and relating to such Letter of Credit.

 

“Joint Venture” means
a joint venture, partnership or other similar arrangement, in each case, with a Person or Persons who are not Subsidiaries of
Borrower, whether in corporate, partnership or other legal form; provided that in no event shall any corporate Restricted
Subsidiary of any Person be considered to be a Joint Venture to which such Person is a party.

 

“Junior Debt” means (i)
any Indebtedness of Borrower or any Guarantor which is by its terms subordinated in right of payment to the Loans and (ii) any
unsecured Indebtedness of Borrower that is not guaranteed by the Guarantors.

 

“Latest Maturity Date”
means the latest Final Maturity Date for any Series.

 

“Laws” means, collectively,
all international, foreign, federal, state and local statutes, treaties, rules, guidelines, regulations, ordinances, codes and
administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental
Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed
duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case, whether
or not having the force of law.

 

“L/C Advance” means,
with respect to each Tranche 2 Lender, such Tranche 2 Lender’s funding of its participation in any L/C Borrowing in accordance
with its Applicable Percentage. All L/C Advances shall be denominated in Dollars.

 

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

 

“L/C Credit Extension”
means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of
the amount thereof.

 

“L/C Facility” means
any facility related to the issuance of letters of credit, together with any documents entered into or otherwise related thereto
(including any cash collateral and control agreements), as the same may be amended, amended and restated, supplemented or otherwise
modified, renewed, refunded, replaced (whether upon or after termination or otherwise) or refinanced, in whole or in part, from
time to time.

 

“L/C Issuer” means, as
the context may require, (a) Bank of America, in its capacity as issuer of Letters of Credit hereunder, (b) any other Lender reasonably
acceptable to the Borrower and the Administrative Agent that has agreed in writing to be an L/C Issuer and (c) any successor L/C
Issuer appointed pursuant to Section 9.7(b) or 10.06(i), in each case, with respect to Letters of Credit issued by it. In the
event that there is more than one L/C Issuer at any time, references herein and in the other Credit Documents to the L/C Issuer
shall be deemed to refer to the L/C Issuer in respect of the applicable Letter of Credit or to all L/C Issuers, as the context
requires.

 

“L/C Issuer Sublimit”
means, with respect to any L/C Issuer, the amount specified under the column headed “L/C Issuer Sublimit” on Schedule
2.1.

    	-25-

    	

    

“L/C Participation Fee”
as defined in Section 2.8(a)(iii).

 

“L/C Obligations” means,
as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit (including
the maximum aggregate amount which is, or at any time thereafter may become, payable by the L/C Issuer under all then outstanding
Bankers’ Acceptances and Letters of Indemnity) plus the aggregate of all Unreimbursed Amounts, including, without
duplication, all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount
of such Letter of Credit shall be determined in accordance with Section 1.8. For all purposes of this Agreement, if on any date
of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation
of Rule 3.14 of the ISP or article 29 of the UCP, such Letter of Credit shall be deemed to be “outstanding” in the
amount so remaining available to be drawn.

 

“L/C Sublimit” means,
at any time, the Tranche 2 Total Commitments at such time.

 

“L/C Subsidiary”
means (i) any Subsidiary listed on Schedule 1.1C or (ii) any Subsidiary designated as an L/C Subsidiary by Borrower by
written notice to the Administrative Agent and the L/C Issuer at least five (5) Business Days in advance of the effectiveness
thereof; provided that such Subsidiary has delivered the documents specified in Section 3.1(b) and (i) to the
Administrative Agent and L/C Issuer prior to such Subsidiary being designated an “L/C Subsidiary.”

 

“Lender” means each Lender
party hereto and any other Person that becomes a party hereto pursuant to an Assignment Agreement, other than any such Person
that ceases to be a party hereto pursuant to an Assignment Agreement.

 

“Letter of Credit” means
any letter of credit or Letter of Indemnity issued hereunder. A Letter of Credit may be a commercial letter of credit (payable
against sight or time drafts, including any Bankers’ Acceptances arising from acceptance of time drafts) or a standby Letter
of Credit. Letters of Credit may be issued in Dollars or in an Alternative Currency.

 

“Letter of Credit Application”
means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by
the L/C Issuer (which, in the case of any Letter of Credit issued for the account of any customer of Borrower or any Subsidiary,
at the L/C Issuer’s election, shall be executed by both (i) Borrower or the applicable L/C Subsidiary and (ii) such customer)
and, as applicable, shall include such general acceptance agreements, applications, certificates and other documents, as L/C Issuer
may require in connection with the creation of Bankers’ Acceptances.

 

“Letter of Credit Expiration Date”
means the day that is five days prior to the Latest Maturity Date (or, if such day is not a Business Day, the next preceding Business
Day).

 

“Letter of Indemnity”
means any air release, steamship guarantee or similar document providing indemnity to a carrier for air release of cargo or release
of shipment without surrender of bills of lading for such cargo or shipment.

 

“LIBOR” means the London
Interbank Offered Rate.

 

“LIBOR Rate Loan” means
a Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate.

 

“LIBOR Screen Rate” means
LIBOR as displayed on the applicable screen page the Administrative Agent designates in its reasonable discretion to determine
LIBOR (or such other 

    	-26-

    	

    

commercially available source providing such quotations as may be designated by the Administrative Agent
from time to time).

 

“LIBOR Successor Rate”
as defined in Section 2.14(b).

 

“LIBOR Successor Rate Conforming
Changes” means, with respect to any proposed LIBOR Successor Rate, any conforming changes to the definition of Base
Rate, Interest Period, timing and frequency of determining rates and making payments of interest and other administrative matters
as may be appropriate, in the reasonable discretion of the Administrative Agent, to reflect the adoption of such LIBOR Successor
Rate and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice
(or, if the Administrative Agent reasonably determines that adoption of any portion of such market practice is not administratively
feasible or that no market practice for the administration of such LIBOR Successor Rate exists, in such other manner of administration
as the Administrative Agent reasonably determines in consultation with the Borrower).

 

“Lien” means, with respect
to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such asset, whether
or not filed, recorded or otherwise perfected under applicable Law, including any conditional sale or other title retention agreement,
any lease in the nature thereof, any option or other agreement to sell or give a security interest in and any filing of or agreement
to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction.

 

“Loan” means any Tranche
1 Loan or any Tranche 2 Loan.

 

“Margin Stock” as defined
in Regulation U of the Board of Governors of the Federal Reserve System, as in effect from time to time.

 

“Material Adverse Effect”
means a material adverse effect on (i) the business operations, properties, assets, or condition (financial or otherwise) of Borrower,
the Restricted Subsidiaries and the Banking Subsidiaries, taken as a whole; (ii) the ability of the Credit Parties, as a whole,
to fully and timely perform the Obligations; (iii) the legality, validity, binding effect, or enforceability against the Credit
Parties of the Credit Documents, in each case, taken as a whole; or (iv) the rights, remedies and benefits available to, or conferred
upon, the Administrative Agent or any Lender under the Credit Documents, taken as a whole.

 

“Moody’s” means
Moody’s Investors Service, Inc.

 

“Multiemployer Plan”
means a multiemployer plan, as defined in Section 4001(a)(3) of ERISA, (i) to which Borrower, any of its Subsidiaries, or any
of their respective ERISA Affiliates is making or accruing an obligation to make contributions or (ii) in respect of which Borrower,
any of its Subsidiaries, or any of their respective ERISA Affiliates could have liability under Section 4201 of ERISA, in the
event of a complete or partial withdrawal of any Person from such plan.

 

“NAIC” means The National
Association of Insurance Commissioners, and any successor thereto.

 

“Non-Consenting Lender”
as defined in Section 2.19.

 

“Non-Extension Notice Date”
as defined in Section 2.20(b)(iii).

    	-27-

    	

    

“Non-Public Information”
means information which has not been disseminated in a manner making it available to investors generally, within the meaning of
Regulation FD.

 

“Non-U.S. Lender” as
defined in Section 2.16(e).

 

“Non-Voting Capital Stock”
means, with respect to any issuer of Capital Stock, the Capital Stock of such issuer that is not Voting Capital Stock.

 

“Note” means a Revolving
Loan Note substantially in the form of Exhibit B.

 

“Notice” means a Funding
Notice or a Conversion/Continuation Notice.

 

“Notice of Prepayment”
means a notice of prepayment with respect to a Loan, which shall be substantially in the form of Exhibit A-3 or such other
form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system
as shall be approved by the Administrative Agent), appropriately completed and signed by a Relevant Officer.

 

“Obligations” means all
liabilities and obligations of every nature of each Credit Party from time to time owed to the Administrative Agent (including
any former administrative agent), the Arrangers, the Other Agents, the Lenders, or any of them, under any Credit Document, whether
for principal, interest and fees (including interest and fees which, but for the filing of a petition in bankruptcy with respect
to such Credit Party, would have accrued on any Obligation, whether or not a claim is allowed against such Credit Party for such
interest in the related bankruptcy proceeding), expenses, indemnification or otherwise and whether primary, secondary, direct,
indirect, contingent, fixed or otherwise (including obligations of performance).

 

“Obligee Guarantor” as
defined in Section 7.7.

 

“OFAC” means the Office
of Foreign Assets Control of the United States Department of the Treasury.

 

“Officer’s Certificate”
means a certificate executed by an Authorized Officer of Borrower in his or her official (and not individual) capacity.

 

“Ordinary Course of Business”
means each of the following occurring in the ordinary course of business: (i) all activities conducted by Borrower and
its Subsidiaries in the ordinary course of their businesses, regardless of frequency, including, without limitation, the following
activities: providing, arranging or syndicating financing (whether debt or equity), holding Portfolio Assets and their other assets
and properties, asset management and servicing, factoring, trade accounts receivable purchasing, trade accounts receivable management
services, leasing (both capital and operating leasing, and sales and exchanges pursuant to such leasing, and real estate leasing
and subleasing to or from third parties with respect to operating locations), purchases, sales, transfers or other dispositions
of Portfolio Assets, investment advisory services, insurance products, vendor financing, management, Portfolio Asset management,
purchases and sales or other dispositions of assets and Capital Stock (including Investments in Joint Ventures) acquired in workouts
of Portfolio Assets or factoring facilities, in each case, in this clause (i), to third parties or to Subsidiaries in the ordinary
course of business, (ii) any financings (including any Investments and other transactions in connection therewith) of the foregoing
activities through securitizations, secured financings, bank loans, conduit facilities, trusts, special purpose vehicles or other
means, (iii) any related workout, exercise of remedies or restructuring activities, including, without limitation, formation of
a special purpose vehicle to acquire, hold or dispose of assets and Capital 

    	-28-

    	

    

Stock obtained in connection with such restructuring
or other activities, (iv) managing and operating assets and businesses acquired through the exercise of remedies, (v) business
associated with investments, banking or investment banking (including commercial and retail deposit taking and Bank Activities)
or finance companies and (vi) any reasonable extension or evolution of the foregoing activities.

 

“Organizational Documents”
means (i) with respect to any corporation, its certificate or articles of incorporation or organization, as amended, and its by-laws,
as amended, (ii) with respect to any limited partnership, its certificate of limited partnership, as amended, and its partnership
agreement, as amended, (iii) with respect to any general partnership, its partnership agreement, as amended, and (iv) with respect
to any limited liability company, its articles of organization, as amended, and its operating agreement or limited liability company
agreement, as amended. In the event any term or condition of this Agreement or any other Credit Document requires any Organizational
Document to be certified by a secretary of state or similar governmental official, the reference to any such “Organizational
Document” shall only be to a document of a type customarily certified by such governmental official.

 

“Other Agent” means each
of the Syndication Agents.

 

“Other Permitted Liens”
means (a) (x) Liens for Taxes (i) for amounts not yet overdue, or (ii) for amounts that are overdue if obligations with respect
to such Taxes are being contested in good faith by appropriate proceedings promptly instituted and diligently conducted so long
as such reserves or other appropriate provisions, if any, as shall be required by GAAP, shall have been made for any such contested
amounts; and (y) Liens with respect to other claims described in Section 5.3; provided that the requirements of Section
5.3 applicable thereto are complied with; (b) statutory Liens of landlords, banks (and rights of set off), of carriers, warehousemen,
mechanics, suppliers, repairmen, workmen and materialmen, ordinary course Liens on aircraft for airport, navigation, and other
en-route charges, permitted Liens under leases and other Liens imposed by law (other than any such Lien imposed pursuant to Section
430(k) or 436(f) of the Internal Revenue Code or by ERISA), (i) for amounts not yet overdue, or (ii) for amounts that are overdue
and that (in the case of any such amounts overdue for a period in excess of five (5) days) are being contested in good faith by
appropriate proceedings, so long as such reserves or other appropriate provisions, if any, as shall be required by GAAP shall
have been made for any such contested amounts; (c) Liens incurred in connection with workers’ compensation, unemployment
insurance and other types of social security, or to secure the performance of tenders, statutory obligations, surety and appeal
bonds, bids, leases, government contracts, trade contracts, performance and return of money bonds and other similar obligations
(exclusive of obligations for the payment of Indebtedness for borrowed money), or deposits made to secure liability to insurance
carriers; (d) easements, rights of way, restrictions, encumbrances, encroachments, and other minor defects or irregularities in
title or ownership rights, in each case, which do not and will not interfere with the value or use of the property to which such
Lien is attached or with the ordinary conduct of business, in either case, in a manner that is material to Borrower and its Restricted
Subsidiaries, taken as a whole; (e) Liens solely on any cash earnest money deposits made by Borrower or any of its Restricted
Subsidiaries in connection with any letter of intent or purchase agreement the consummation of which would be permitted hereunder;
(f) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection
with the importation of goods; (g) any zoning or similar law or right reserved to or vested in any governmental office or agency
to control or regulate the use of any real property; and (h) licenses or sublicenses of patents, trademarks and other intellectual
property rights granted by Borrower or any of its Restricted Subsidiaries in connection with Ordinary Course of Business.

 

“Other Taxes” means any
and all present or future stamp, registration, recording, filing, transfer, documentary, excise or property Taxes, charges or
similar levies arising from any payment made hereunder or from the execution, delivery or enforcement of, or otherwise with respect
to or in connection 

    	-29-

    	

    

with, any Credit Document, excluding any such Tax imposed as a result of an assignment by a Lender (“Assignment
Tax”), if the Lender has a present or former connection with the jurisdiction imposing such Assignment Tax (other than
a connection arising solely from having executed, delivered, enforced, become a party to, performed its obligations, received
payments, received or perfected a security interest under, and/or engaged in any other transaction pursuant to, any Credit Document).

 

“Outstanding Amount”
means (a) with respect to Loans on any date, the aggregate outstanding principal amount thereof after giving effect to any borrowings
and prepayments or repayments of Loans, as the case may be, occurring on such date; and (b) with respect to any L/C Obligations
on any date, the Dollar Equivalent amount of the aggregate outstanding amount of such L/C Obligations on such date after giving
effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate amount of the L/C Obligations
as of such date, including as a result of any reimbursements by Borrower of Unreimbursed Amounts.

 

“Overnight Rate” means,
for any day, (a) with respect to any amount denominated in Dollars, the greater of (i) the Federal Funds Effective Rate and (ii)
an overnight rate determined by the Administrative Agent or the L/C Issuer, as the case may be, in accordance with banking industry
rules on interbank compensation, and (b) with respect to any amount denominated in an Alternative Currency, the rate of interest
per annum at which overnight deposits in the applicable Alternative Currency, in an amount approximately equal to the amount with
respect to which such rate is being determined, would be offered for such day by a branch or Affiliate of Bank of America in the
applicable offshore interbank market for such currency to major banks in such interbank market.

 

“Own” means, with respect
to any aircraft, to hold legal and sole ownership of such aircraft directly or to hold 100% of the beneficial ownership of such
aircraft through a trust, conditional sale or similar arrangement holding title to such aircraft. The terms “Ownership”
and “Owned by” have a correlative meaning.

 

“Owner Trust” means any
trust holding title to any aircraft, 100% of the beneficial ownership of which trust is held by Borrower or any Guarantor.

 

“Owner Trustee” means
the owner trustee (not in its individual capacity but solely as trustee) of an Owner Trust, the property of which is beneficially
owned by a Guarantor.

 

“Participant” as defined
in Section 10.6(g)(ii).

 

“Participant Register”
as defined in Section 10.6(g)(iv).

 

“Patriot Act” means the
Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA Patriot Act
of 2001).

 

“PBGC” means the Pension
Benefit Guaranty Corporation or any successor thereto.

 

“Pension Plan” means
an Employee Benefit Plan that is a “defined benefit plan” (as defined in Section 414(j) of the Internal Revenue Code
and Section 3(35) of ERISA) other than a Multiemployer Plan.

 

“Permitted Aircraft Liens”
means (i) Liens described under clause (a)(x) in the definition of “Other Permitted Liens,” (ii) any Lien of landlords,
carriers, warehousemen, hanger keepers, mechanics, suppliers, repairmen, workmen, materialmen and the like (including liens for
airport, navigation, and other en-route charges) arising in the ordinary course of business by operation of Law (or 

    	-30-

    	

    

under customary
terms of repair or modification agreements or any engine or parts-pooling arrangements) or similar Lien, in each case, (x) which
are either not overdue or are being contested in good faith by appropriate proceedings, and (y) securing obligations that are
not incurred in connection with the obtaining of any Indebtedness for borrowed money, and (iii) the lease pursuant to which the
applicable aircraft is leased or any sublease of such aircraft or any liens incurred by lessees or sublessees in connection with
such arrangements or in their interest in such lease or sublease.

 

“Permitted Finance Receivable Liens”
means (i) Liens described under clause (a)(x) in the definition of “Other Permitted Liens,” and (ii) Liens that are
rights of set off or other limitations or encumbrances relating to transactions with a syndicate member or participant or agent
or letter of credit bank or issuer in a loan or equity transaction in the ordinary course of business securing obligations that
are not incurred in connection with the obtaining of any Indebtedness for borrowed money.

 

“Permitted Liens” means
each of the Liens permitted pursuant to Section 6.1 and Other Permitted Liens.

 

“Permitted Railcar Liens”
means (i) Liens described under clause (a)(x) in the definition of “Other Permitted Liens,” (ii) any Lien of landlords,
carriers, warehousemen, mechanics, suppliers, repairmen, workmen, materialmen and the like arising in the ordinary course of business
by operation of law (or under customary terms of repair or modification agreements or parts-pooling arrangements) or similar Lien,
in each case, (x) which are either not overdue or are being contested in good faith by appropriate proceedings, and (y) securing
obligations that are not incurred in connection with the obtaining of any Indebtedness for borrowed money, and (iii) the lease
pursuant to which the applicable railcar is leased or any sublease of such railcar or any liens incurred by lessees or sublessees
in connection with such arrangements or in their interest in such lease or sublease.

 

“Person” means any individual,
corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated organization, limited liability
company or government or other entity.

 

“Portfolio Assets” means
any assets or rights acquired, funded, held, managed, financed, syndicated or otherwise generated or disposed of in the Ordinary
Course of Business, including, without limitation, loans, leases, inventory, equipment, intellectual property rights, securities
and investment property (equity or otherwise), mortgages and instruments (negotiable or otherwise), receivables, trade payables
or trade account receivables, and any other financial assets and the proceeds and products of the foregoing.

 

“Preferred Aircraft Types”
means aircraft of each of the following types: (a) Airbus A319, (b) Airbus 319neo, (c) Airbus A320, (d) Airbus A320neo, (e)
Airbus A321-200, (f) Airbus A321neo, (g) Airbus A330, (h) Airbus A350, (i) Boeing 737-600, (j) Boeing 737-700, (k) Boeing
737-800, (l) Boeing 737-900ER, (m) Boeing 737 MAX, (n) Boeing 777-200ER, (o) Boeing 777-200LR, (p) Boeing 777-300ER, (q) Boeing
787 and (r) Embraer E-190.

 

“Preferred Railcar Types”
means any railcar or locomotive, other than the following types: (i) locomotives, other than freight locomotives, (ii) centerbeam
cars, (iii) 70-ton box cars and (iv) steel coal cars.

 

“Prime Rate” means, with
respect to any day, the rate of interest in effect for such day as publicly announced from time to time by Bank of America as
its “prime rate.” The Prime Rate is a reference rate and does not necessarily represent the lowest or best rate actually
charged to any customer. The Administrative Agent or any other Lender may make commercial loans or other loans at rates of

    	-31-

    	

    

 interest
at, above or below the Prime Rate. Any change in such rate announced by Bank of America shall take effect at the opening of business
on the day specified in the public announcement of such change.

 

“Principal Office” means,
for each of the Administrative Agent and any Lender, such Person’s “Principal Office” (and account as appropriate)
as set forth on Appendix A, or such other office or account or office of a third party or sub-agent, as appropriate, as such Person
may from time to time designate in writing to Borrower and each Lender, which office may include any Affiliate of such Lender
or any domestic or foreign branch of such Lender or such Affiliate. Unless the context otherwise requires each reference to a
Lender shall include its applicable Principal Office.

 

“Prior Credit Agreement”
has the meaning set forth in the preamble hereto.

 

“Prior Credit Agreement Date”
means January 27, 2014.

 

“Prohibited Country”
means a country or territory that is the subject of sanctions administered or enforced by any Sanctions Authority.

 

“PTE” means a prohibited
transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time.

 

“Public Lender” as defined
in Section 5.1(k).

 

“Publicly Traded Debt Securities”
means any issue of debt securities of Borrower or any of its Restricted Subsidiaries originally issued in a public offering registered
with the SEC or in an offering pursuant to Rule 144A under the Securities Act and of which issue at least $50.0 million aggregate
principal amount is outstanding.

 

“Qualified Appraiser”
means (i) in the case of aircraft, any of AVITAS, Inc., Aircraft Information Services, Inc. or Aviation Specialist Group, (ii)
in the case of railcars or locomotives, Rail Solutions, Inc. and (iii) any other appraisal firm selected and retained by Borrower
and reasonably acceptable to the Administrative Agent.

 

“Qualified Equity Interests”
means Capital Stock of Borrower that is not Disqualified Stock.

 

“Qualified Lease Subsidiary”
means a Subsidiary that (a) does not engage in any activities other than entering into (i) leases (each, a “headlease”)
with respect to aircraft with a Guarantor, a Qualified Owner Trust or another Qualified Lease Subsidiary and (ii) subleases with
respect to such aircraft with the ultimate customer or another Qualified Lease Subsidiary, (b) is obligated to pay, and pays,
not less than 98% of the rental payments under the sublease as rental payment under the headlease and (c) has no liabilities other
than those incidental to the foregoing.

 

“Qualified Owner Trust”
means an Owner Trust that (a) is wholly owned, beneficially and of record, directly by a Guarantor, (b) does not engage in any
activities other than (i) holding title to aircraft for the benefit of one or more Guarantors and (ii) entering into leases with
respect to such aircraft for the benefit of one or more Guarantors, and (c) has no liabilities other than those incidental to
the foregoing.

 

“Rate Management Transactions”
means any transaction (including an agreement with respect thereto) now existing or hereafter entered into by Borrower or any
Restricted Subsidiary which is a rate swap, basis swap, total return swap, forward rate transaction, commodity swap, commodity
option, 

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equity or equity index swap, equity or equity index option, bond option, interest rate option, foreign exchange transaction,
cap transaction, floor transaction, collar transaction, forward transaction, currency swap transaction, cross-currency rate swap
transaction, currency option or any other similar transaction (including any option with respect to any of these transactions)
or any combination thereof, whether linked to one or more interest rates, foreign currencies, commodity prices, equity prices
or other financial measures, or the purchase of credit default swaps.

 

“Real Estate Asset” means,
at any time of determination, any interest (fee, leasehold or otherwise) then owned by any Credit Party in any real property.

 

“Register” as defined
in Section 2.4(b).

 

“Regulated Subsidiary”
means any Person identified on Schedule 1.1D and each other Person identified from time to time by any Credit Party in writing
to the Administrative Agent in accordance with Section 10.1 so long as, in each case, such Person is an entity directly regulated
by a Governmental Authority, including any Banking Subsidiary and its Subsidiaries, or whose assets or business consist primarily
of assets (e.g., licenses) or businesses regulated directly by a Governmental Authority.

 

“Regulation D” means
Regulation D of the Board of Governors of the Federal Reserve System, as in effect from time to time.

 

“Regulation FD” means
Regulation FD, as promulgated by the SEC under the Securities Act and the Exchange Act.

 

“Regulation S-X” means
Regulation S-X, as promulgated by the SEC under the Securities Act.

 

“Related Fund” means,
with respect to any Lender that is an investment fund, any other investment fund that invests in commercial loans and that is
managed or advised by the same investment advisor as such Lender or by an Affiliate of such investment advisor.

 

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

 

“Release” means any release,
spill, emission, leaking, pumping, pouring, injection, escaping, deposit, disposal, discharge, dispersal, dumping, leaching or
migration of any Hazardous Material into the indoor or outdoor environment (including the abandonment or disposal of any barrels,
containers or other closed receptacles containing any Hazardous Material), including the movement of any Hazardous Material through
the air, soil, surface water or groundwater.

 

“Relevant Officer” means,
as applied to any Person, any individual holding the position of chairman of the board (if an officer), chief executive officer,
president, chief financial officer, chief accounting officer, controller, treasurer or assistant treasurer and, solely for purposes
of notices given pursuant to Section 2, any such officer or employee of the applicable Credit Party so designated by any of the
foregoing officers in a written notice to the Administrative Agent.

 

“Replacement Lender”
as defined in Section 2.19.

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“Requisite Lenders” means,
as of any date of determination, Lenders holding more than 50% of the sum of the (a) Total Outstandings (with the aggregate amount
of each Lender’s risk participation and funded participation in L/C Obligations being deemed, without duplication, “held”
by such Lender for purposes of this definition) and (b) the aggregate unused Commitments; provided that the unused Commitment
of, and the portion of the Total Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of
making a determination of Requisite Lenders.

 

“Requisite Tranche Lenders”
means (a) with respect to the Tranche 1 Facilities, the Requisite Tranche 1 Lenders and (b) with respect to the Tranche 2 Facilities,
the Requisite Tranche 2 Lenders.

 

“Requisite Tranche 1 Lenders”
means one or more Lenders having or holding Tranche 1 Exposure representing more than fifty percent (50%) of the Tranche 1 Exposure
of all Lenders, provided that the Tranche 1 Exposure held or deemed held by, any Defaulting Lender shall be excluded for
purposes of making a determination of Requisite Tranche 1 Lenders.

 

“Requisite Tranche 2 Lenders”
means one or more Lenders having or holding Tranche 2 Exposure representing more than fifty percent (50%) of the Tranche 2 Exposure
of all Lenders, provided that the Tranche 2 Exposure held or deemed held by, any Defaulting Lender shall be excluded for
purposes of making a determination of Requisite Tranche 2 Lenders.

 

“Restricted Party” means
any Person that is (1) listed on, or owned (meaning 50% or greater ownership interest) or otherwise (directly or indirectly) controlled
by a Person listed on, or acting on behalf of a Person listed on, any Sanctions List, (2) located in, or organized under the laws
of, or domiciled in, or owned (meaning 50% or greater ownership interest) or otherwise (directly or indirectly) controlled by,
or acting on behalf of, a Person located in or organized under the laws of or domiciled in a Prohibited Country or (3) otherwise
a Target of Sanctions.

 

“Restricted Payment”
as defined in Section 6.2(a).

 

“Restricted Subsidiary”
of a Person means any Subsidiary of such Person that is not an Unrestricted Subsidiary. Unless otherwise specified, a Restricted
Subsidiary refers to a Restricted Subsidiary of Borrower.

 

“Revaluation Date” means,
with respect to any Letter of Credit, each of the following: (i) each date of issuance or renewal of a Letter of Credit denominated
in an Alternative Currency, (ii) each date of an amendment of any such Letter of Credit having the effect of increasing the amount
thereof (solely with respect to the increased amount), (iii) each date of any payment by the L/C Issuer under any Letter of Credit
denominated in an Alternative Currency, (iv) the first Business Day of each month and (v) such additional dates as the Administrative
Agent or the L/C Issuer shall reasonably determine (including, without limitation, on any date when the L/C Issuer issues a Letter
of Indemnity, an airway bill release, steamship guarantee or a banker’s acceptance in respect of a Letter of Credit) or
the Requisite Tranche 2 Lenders shall reasonably require.

 

“S&P” means Standard
& Poor’s Ratings Group, a division of The McGraw Hill Corporation.

 

“Sale and Leaseback Transaction”
means an arrangement relating to property now owned or hereafter acquired whereby Borrower or a Restricted Subsidiary transfers
such property to a Person and Borrower or a Restricted Subsidiary leases it from such Person.

    	-34-

    	

    

“Same Day Funds” means
(a) with respect to disbursements and payments in Dollars, immediately available funds, and (b) with respect to disbursements
and payments in an Alternative Currency, same day or other funds, as may be reasonably determined by the Administrative Agent
or the L/C Issuer, as the case may be, to be customary in the place of disbursement or payment for the settlement of international
banking transactions in the relevant Alternative Currency.

 

“Sanctions” means the
economic sanctions laws, regulations, embargoes or restrictive measures administered, enacted, or enforced by: (i) the United
States government, including the Executive Order, the USA PATRIOT Act of 2001, the U.S. International Emergency Economic Powers
Act (50 U.S.C. §§ 1701 et seq.), the U.S. Trading with the Enemy Act (50 U.S.C. App. §§ 1 et seq.), the U.S.
United Nations Participation Act, the U.S. Syria Accountability and Lebanese Sovereignty Act, the U.S. Comprehensive Iran Sanctions,
Accountability, and Divestment Act of 2010 or the Iran Sanctions Act, Section 1245 of the National Defense Authorization Act of
2012, The Iran Freedom and Counter-Proliferation Act of 2012, the Iran Threat Reduction and Syria Human Rights Act of 2012, the
Countering America’s Adversaries Through Sanctions Act (22 U.S.C. 9401 et seq.), all as amended, executive orders implementing
these laws, or any of the foreign assets control regulations (including 31 C.F.R., Subtitle B, Chapter V, as amended); (ii) the
United Nations; (iii) the European Union; (iv) the United Kingdom; or (v) the respective governmental institutions and agencies
of any of the foregoing, including, without limitation, OFAC, the United States Department of State, her Majesty’s Treasury
(“HMT”), the United Nations Security Council (“UNSC”), Ireland, or other relevant sanctions
authority (together, the “Sanctions Authorities”).

 

“Sanctions Authority”
as defined in the definition of Sanctions.

 

“Sanctions List” means
the Annex to the Executive Order, the Specially Designated Nationals and Blocked Persons List (“SDN List”)
maintained by OFAC, the Consolidated List of Financial Sanctions Targets and the Investment Ban List maintained by HMT, or any
similar list maintained by, or public announcement of Sanctions designation made by, any of the Sanctions Authorities.

 

“Scheduled Unavailability Date”
as defined in Section 2.14(b).

 

“SEC” means the U.S.
Securities and Exchange Commission.

 

“Securities” means any
stock, shares, partnership interests, voting trust certificates, certificates of interest or participation in any profit-sharing
agreement or arrangement, options, warrants, bonds, debentures, notes, or other evidences of indebtedness, secured or unsecured,
convertible, subordinated or otherwise, or in general any instruments commonly known as “securities” or any certificates
of interest, shares or participations in temporary or interim certificates for the purchase or acquisition of, or any right to
subscribe to, purchase or acquire, any of the foregoing.

 

“Securities Account”
means a “securities account” as defined in Section 8-501 of the UCC, with a bank or like organization.

 

“Securities Act” means
the Securities Act of 1933, as amended from time to time, and any successor statute.

 

“Series” means (i) with
respect to any Commitment, its character as a Tranche 1E Commitment, Tranche 1N Commitment, Tranche 2E Commitment or Tranche 2N
Commitment or any other group of Commitments designated as a “Series” pursuant to this Agreement, and (ii) with respect
to any Loan, its character as a Tranche 1E Loan, Tranche 1N Loan, Tranche 2E Loan or Tranche 2N Loan or 

    	-35-

    	

    

any other group of Loans
designated as a “Series” pursuant to this Agreement; provided that, notwithstanding anything to the contrary,
the borrowing and, except as set forth in Section 2.11(b), repayment of Loans shall be made on a pro rata basis across all Series
of Loans of the same Tranche, and any reduction of Commitments shall be made on a pro rata basis across all Series of Commitments
of the same Tranche.

 

“Significant Subsidiary”
means any Restricted Subsidiary or any U.S. Banking Subsidiary that is a chartered or licensed banking institution that is authorized
to take deposits that, in either case, would be a “significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation
S-X, promulgated pursuant to the Securities Act, as such Regulation is in effect on the Closing Date.

 

“Solvency Certificate”
means a Solvency Certificate of the chief financial officer of Borrower substantially in the form of Exhibit F-2.

 

“Solvent” means that,
as of the date of determination, (a) the sum of Borrower’s debts and liabilities (including contingent liabilities) does
not exceed the present fair saleable value of Borrower’s present assets; (b) Borrower’s capital is not unreasonably
small in relation to its business, as contemplated on the Closing Date or with respect to any transaction contemplated to be undertaken
after the Closing Date; and (c) Borrower does not intend to incur, or believe that it will incur, debts beyond its ability to
pay such debts as they become due (whether at maturity or otherwise). For purposes of this definition, the amount of any contingent
liability at any time shall be computed as the amount that, in light of all of the facts and circumstances existing at such time,
represents the amount that can reasonably be expected to become an actual or matured liability (irrespective of whether such contingent
liabilities meet the criteria for accrual under Statement of Financial Accounting Standard No. 5).

 

“Special Purpose Entity”
means a Person (i) formed by Borrower or a Subsidiary of Borrower for a limited purpose or having a limited business purpose in
connection with the Ordinary Course of Business or (ii) the Capital Stock of which was acquired in connection with the workout
of assets or exercise of remedies in the Ordinary Course of Business or as the proceeds of collateral securing a loan or other
Portfolio Asset or in connection with servicing or managing assets in the Ordinary Course of Business, which is designated as
a Special Purpose Entity by Borrower or a Guarantor.

 

“Spot Rate” for a currency
means the rate determined by the Administrative Agent or the L/C Issuer, as applicable, to be the rate quoted by the Person acting
in such capacity as the spot rate for the purchase by such Person of such currency with another currency through its principal
foreign exchange trading office at approximately 11:00 a.m. on the date two Business Days prior to the date as of which the foreign
exchange computation is made; provided that the Administrative Agent or L/C Issuer may obtain such spot rate from another
financial institution designated by the Administrative Agent or the L/C Issuer, if the Person acting in such capacity does not
have, as of the date of determination, a spot buying rate for any such currency; and provided, further, that the L/C Issuer
may use such spot rate quoted on the date as of which the foreign exchange computation is made in the case of any Letter of Credit
denominated in an Alternative Currency.

 

“Stated Maturity”
means, with respect to any installment of interest or principal on any series of Indebtedness, the date on which the payment
of interest or principal was scheduled to be paid in the documentation governing such Indebtedness as of the issue date of such
Indebtedness, and will not include any contingent obligations to repay, redeem or repurchase any such interest or principal prior
to the date originally scheduled for the payment thereof.

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“Subordinated Intercompany Indebtedness”
means Indebtedness of any Guarantor to Borrower or any Subsidiary; provided that all such Indebtedness of any Guarantor shall
be expressly subordinated to the Obligations substantially on the terms attached hereto as Exhibit I.

 

“Subsidiary” means, with
respect to any specified Person:

 

(1)        any corporation, limited
liability company, association or other business entity of which more than fifty percent (50%) of the total voting power of shares
of Capital Stock entitled (without regard to the occurrence of any contingency and after giving effect to any voting, agreement
or stockholders’ agreement that effectively transfers voting power) to vote in the election of directors, managers or trustees
of the corporation, limited liability company, association or other business entity is at the time owned or controlled, directly
or indirectly, by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and

 

(2)        any partnership (a) the
sole general partner or the managing general partner of which is such Person or a Subsidiary of such Person or (b) the only general
partners of which are that Person or one or more Subsidiaries of that Person (or any combination thereof).

 

Unless otherwise specified, a Subsidiary
refers to a Subsidiary of Borrower.

 

“Syndication Agent” means
each of Barclays Bank PLC, Credit Suisse Securities (USA) LLC, J.P. Morgan Chase Bank, N.A. and Morgan Stanley Senior Funding,
Inc. in its respective capacity as syndication agent.

 

“Target of Sanctions”
means a Person with whom a U.S. Person or other national of a Sanctions Authority would be prohibited or restricted by law from
engaging in trade, business, or other activities.

 

“Tax” means any present
or future tax, levy, impost, duty, assessment, charge, claim, fee, deduction or withholding of any nature imposed, levied, collected,
withheld or assessed by any Governmental Authority, including any interest, penalties or additional amounts thereon.

 

“Tax Related Person”
means any Person (including a beneficial owner of an interest in a pass-through entity) who is required to include in income amounts
realized (whether or not distributed) by the Administrative Agent, a Lender or Participant or any Tax Related Person of any of
the foregoing.

 

“Terminated Lender” as
defined in Section 2.19.

 

“Terrorism Laws” means
any of the following: (a) Executive Order 13224 issued by the President of the United States (the “Executive Order”),
(b) the Terrorism Sanctions Regulations (Title 31 Part 595 of the U.S. Code of Federal Regulations), (c) the Terrorism List Governments
Sanctions Regulations (Title 31 Part 596 of the U.S. Code of Federal Regulations), (d) the Foreign Terrorist Organizations Sanctions
Regulations (Title 31 Part 597 of the U.S. Code of Federal Regulations), (e) the Patriot Act (as it may be subsequently codified),
(f) The Currency and Foreign Transactions Reporting Act (also known as the “Bank Secrecy Act”, 31 U.S.C. §§
5311-5330 and 12 U.S.C. §§ 1818(s), 1820(b) and 1951-1959), (g) all other present and future legal requirements of any
Governmental Authority addressing, relating to, or attempting to eliminate, terrorist acts and acts of war and (h) any regulations
promulgated pursuant thereto or pursuant to any legal requirements of any Governmental Authority governing terrorist acts or acts
of war.

 

“Threshold Amount” means
$250,000,000.

    	-37-

    	

    

“Tier 1 Capital Ratio”
means the ratio of tier 1 capital to standardized total risk-weighted assets (in each case, calculated in accordance with the
capital adequacy rules of the applicable Bank Regulatory Agency).

 

“Total Commitments” means,
at any time, the aggregate amount of the Lenders’ Commitments at such time.

 

“Total Outstandings”
means the aggregate Outstanding Amount of all Loans and all L/C Obligations.

 

“Tranche” means the Tranche
1 Facilities or the Tranche 2 Facilities. The Tranche 1E Facility and the Tranche 1N Facility are deemed to be in the same “Tranche”,
and the Tranche 2E Facility and the Tranche 2N Facility are deemed to be in the same “Tranche.”

 

“Tranche 1 Commitment”
means any Tranche 1E Commitment or any Tranche 1N Commitment.

 

“Tranche 1 Exposure”
means, with respect to any Lender, as of any date of determination, the sum of (i) any unfunded Tranche 1 Commitment of such Lender
in effect as of such date, if any, and (ii) the principal amount of the Tranche 1 Loans of such Lender outstanding as of such
date.

 

“Tranche 1 Facilities”
means the Tranche 1E Facility and the Tranche 1N Facility.

 

“Tranche 1 Lender” means
any Tranche 1E Lender or any Tranche 1N Lender.

 

“Tranche 1 Loan” means
any Tranche 1E Loan or any Tranche 1N Loan.

 

“Tranche 1 Outstandings”
means the aggregate Outstanding Amount of all Tranche 1 Loans.

 

“Tranche 1 Total Commitments”
means, at any time, the aggregate amount of the Lenders’ Tranche 1 Commitments at such time. The Tranche 1 Total Commitments
as of the Amendment No. 2 Effective Date are $375,000,000.

 

“Tranche 1E Commitment”
means, with respect to each Tranche 1E Lender, its obligations to make Tranche 1E Loans to Borrower pursuant to Section 2.1(a)
in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name
on Schedule 2.1 under the caption “Tranche 1E Commitment” or opposite such caption in the Assignment Agreement pursuant
to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with
this Agreement.

 

“Tranche 1E Facility”
means the “Tranche 1E” revolving facility established pursuant to Section 2.1 of this Agreement and the Tranche 1E
Loans and Tranche 1E Commitments thereunder.

 

“Tranche 1E Lender” means
each Lender that has a Tranche 1E Commitment or that holds a Tranche 1E Loan.

 

“Tranche 1E Loan” means
any Tranche 1E Loan made pursuant to the Tranche 1E Commitments.

    	-38-

    	

    

“Tranche 1E Total Commitments”
means, at any time, the aggregate amount of the Lenders’ Tranche 1E Commitments at such time. The Tranche 1E Total Commitments
as of the Amendment No. 2 Effective Date are $343,750,000.

 

“Tranche 1N Commitment”
means, with respect to each Tranche 1N Lender, its obligations to make Tranche 1N Loans to Borrower pursuant to Section 2.1(a)
in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name
on Schedule 2.1 under the caption “Tranche 1N Commitment” or opposite such caption in the Assignment Agreement pursuant
to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with
this Agreement.

 

“Tranche 1N Facility”
means the “Tranche 1N” revolving facility established pursuant to Section 2.1 of this Agreement and the Tranche 1N
Loans and Tranche 1N Commitments thereunder.

 

“Tranche 1N Lender” means
each Lender that has a Tranche 1N Commitment or that holds a Tranche 1N Loan.

 

“Tranche 1N Loan” means
any Tranche 1N Loan made pursuant to the Tranche 1N Commitments.

 

“Tranche 1N Total Commitments”
means, at any time, the aggregate amount of the Lenders’ Tranche 1N Commitments at such time. The Tranche 1N Total Commitments
as of the Amendment No. 2 Effective Date are $31,250,000.00.

 

“Tranche 2 Commitment”
means any Tranche 2E Commitment or any Tranche 2N Commitment.

 

“Tranche 2 Exposure”
means, with respect to any Tranche 2 Lender, as of any date of determination, the sum, without duplication, of (i) any unfunded
Tranche 2 Commitment of such Lender in effect as of such date, if any, (ii) the principal amount of the Tranche 2 Loans of such
Lender outstanding as of such date and (iii) such Tranche 2 Lender’s Applicable Percentage of the Outstanding Amount of
all L/C Obligations.

 

“Tranche 2 Facilities”
means the Tranche 2E Facility and the Tranche 2N Facility.

 

“Tranche 2 Lender” means
any Tranche 2E Lender or any Tranche 2N Lender.

 

“Tranche 2 Loan” means
any Tranche 2E Loan or any Tranche 2N Loan.

 

“Tranche 2 Outstandings”
means the aggregate Outstanding Amount of all Tranche 2 Loans.

 

“Tranche 2 Total Commitments”
means, at any time, the aggregate amount of the Lenders’ Tranche 2 Commitments at such time. The Tranche 2 Total Commitments
as of the Amendment No. 2 Effective Date are $125,000,000.

 

“Tranche 2E Commitment”
means, with respect to each Tranche 2E Lender, its obligations to (A) make Tranche 2E Loans to Borrower pursuant to Section 2.1(a)
and (B) purchase participations in L/C Obligations, in an aggregate principal amount at any one time outstanding not to exceed,
the amount set forth opposite such Lender’s name on Schedule 2.1 under the caption “Tranche 2E Commitment” or
opposite such caption in the Assignment Agreement pursuant to which such Lender 

    	-39-

    	

    

becomes a party hereto, as applicable, as such
amount may be adjusted from time to time in accordance with this Agreement.

 

“Tranche 2E Facility”
means the “Tranche 2E” revolving facility established pursuant to Sections 2.1 and the Letter of Credit facility established
pursuant to Section 2.20 of this Agreement and the Tranche 2E Loans and Tranche 2E Commitments thereunder.

 

“Tranche 2E Lender” means
each Lender that has a Tranche 2E Commitment or that holds a Tranche 2E Loan.

 

“Tranche 2E Loan” means
any Tranche 2E Loan made pursuant to the Tranche 2E Commitments.

 

“Tranche 2E Total Commitments”
means, at any time, the aggregate amount of the Lenders’ Tranche 2E Commitments at such time. The Tranche 2E Total Commitments
as of the Amendment No. 2 Effective Date are $114,583,333.34.

 

“Tranche 2N Commitment”
means, with respect to each Tranche 2N Lender, its obligations to (A) make Tranche 2N Loans to Borrower pursuant to Section 2.1(a)
and (B) purchase participations in L/C Obligations, in an aggregate principal amount at any one time outstanding not to exceed,
the amount set forth opposite such Lender’s name on Schedule 2.1 under the caption “Tranche 2N Commitment” or
opposite such caption in the Assignment Agreement pursuant to which such Lender becomes a party hereto, as applicable, as such
amount may be adjusted from time to time in accordance with this Agreement.

 

“Tranche 2N Facility”
means the “Tranche 2N” revolving facility established pursuant to Sections 2.1 and the Letter of Credit facility established
pursuant to Section 2.20 of this Agreement and the Tranche 2N Loans and Tranche 2N Commitments thereunder.

 

“Tranche 2N Lender” means
each Lender that has a Tranche 2N Commitment or that holds a Tranche 2N Loan.

 

“Tranche 2N Loan” means
any Tranche 2N Loan made pursuant to the Tranche 2N Commitments.

 

“Tranche 2N Outstandings”
means the aggregate Outstanding Amount of all Tranche 2N Loans and all L/C Obligations.

 

“Tranche 2N Total Commitments”
means, at any time, the aggregate amount of the Lenders’ Tranche 2N Commitments at such time. The Tranche 2N Total Commitments
as of the Amendment No. 2 Effective Date are $10,416,666.66.

 

“UCP” means, with respect
to any Letter of Credit, the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by
the International Chamber of Commerce.

 

“United States” means
the United States of America.

 

“Unreimbursed Amount”
as defined in Section 2.20(c)(i).

    	-40-

    	

    

“Unrestricted Subsidiary”
means (i) any Subsidiary listed on Schedule 5.10 and (ii) any Subsidiary that is formed after the Prior Credit Agreement Date
as an Unrestricted Subsidiary or designated as an Unrestricted Subsidiary after the Prior Credit Agreement Date, in each case,
in compliance with Section 5.10.

 

“Upfront Fee” as defined
in Section 2.8(a)(ii).

 

“U.S. Banking Subsidiary”
means a Banking Subsidiary (including CIT Bank) organized under the laws of the United States, any state thereof or any other
jurisdiction thereunder.

 

“U.S. Lender” as defined
in Section 2.16(e).

 

“Utilization Rate” means
the percentage equal to (i) the Total Outstandings over (ii) the Total Commitments.

 

“Voting Capital Stock”
of any specified Person as of any date means the outstanding Capital Stock of such Person that has at the time ordinary voting
power to elect the Board of Directors of such Person.

 

“Write-Down and Conversion Powers”
means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from
time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described
in the EU Bail-In Legislation Schedule.

 

	 	1.2	Accounting Terms.

 

All calculations under the Credit Documents
shall be made in accordance with the accounting principles and policies used to prepare the Historical Financial Statements, except
(i) as otherwise expressly provided herein or therein and (ii) that Indebtedness of Borrower and its Subsidiaries shall be deemed
to be carried at 100% of the outstanding principal amount thereof, and the effects of FASB ASC 825 on financial liabilities shall
be disregarded.

 

Financial statements and other information
required to be delivered by Borrower to Lenders pursuant to Sections 5.1(a) and 5.1(b) shall be prepared in accordance with generally
accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American
Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in
such other statements by such other entity, as may be approved by a significant segment of the accounting profession of the United
States, in each case, which are in effect at the applicable time in the United States (“GAAP”). At any time
after the Closing Date, Borrower may elect to apply International Financial Reporting Standards (“IFRS”) accounting
principles in lieu of GAAP and, upon any such election, references herein to GAAP shall thereafter be construed to mean IFRS (except
as otherwise provided in this Agreement). Borrower shall give notice of any such election made in accordance with this definition
to the Administrative Agent.

 

Accounting terms not otherwise defined herein
shall have the meanings assigned to them in conformity with GAAP or in the application thereof.

 

	 	1.3	Interpretation, etc.

 

Any of the terms defined herein may, unless
the context otherwise requires, be used in the singular or the plural, depending on the reference. References herein to any Section,
Appendix, 

    	-41-

    	

    

Schedule or Exhibit shall be to a Section, an Appendix, a Schedule or an Exhibit, as the case may be, hereof unless
otherwise specifically provided. The use herein of the word “include” or “including,” when following any
general statement, term or matter, shall not be construed to limit such statement, term or matter to the specific items or matters
set forth immediately following such word or to similar items or matters, whether or not non-limiting language (such as “without
limitation” or “but not limited to” or words of similar import) is used with reference thereto, but rather shall
be deemed to refer to all other items or matters that fall within the broadest possible scope of such general statement, term
or matter. Unless otherwise indicated, any definition of or reference to any agreement, instrument or other document herein shall
be construed as referring to such agreement, instrument or other document, as from time to time amended, supplemented or otherwise
modified (subject to any restrictions on such amendments, supplements or modifications set forth herein). Any reference to any
law shall include all statutory and regulatory provisions consolidating, amending, replacing or interpreting such law and any
reference to any law or regulation shall, unless otherwise specified, refer to such law or regulation, as amended, modified, replaced
or supplemented from time to time. Capitalized terms in this Agreement referring to any Person shall refer to such Person together
with its successors and permitted assigns.

 

	 	1.4	Exchange Rates; Currency Equivalents.

 

(a)        The Administrative Agent or the L/C
Issuer, as applicable, shall determine the Spot Rates as of each Revaluation Date to be used for calculating Dollar Equivalent
amounts of Credit Extensions and Outstanding Amounts denominated in Alternative Currencies. Such Spot Rates shall become effective
as of such Revaluation Date and shall be the Spot Rates employed in converting any amounts between the applicable currencies,
until the next Revaluation Date to occur. Except for purposes of financial statements delivered by Credit Parties hereunder or
calculating financial covenants hereunder or except as otherwise provided herein, the applicable amount of any currency (other
than Dollars) for purposes of the Credit Documents shall be such Dollar Equivalent amount, as so determined by the Administrative
Agent or the L/C Issuer, as applicable.

 

(b)        Wherever in this Agreement in connection
with the issuance, amendment or extension of a Letter of Credit, an amount, such as a required minimum or multiple amount, is
expressed in Dollars, but such Letter of Credit is denominated in an Alternative Currency, such amount shall be the relevant Alternative
Currency Equivalent of such Dollar amount (rounded to the nearest unit of such Alternative Currency, with 0.5 of a unit being
rounded upward), as determined by the L/C Issuer.

 

	 	1.5	Additional Alternative Currencies.

 

(a)        Borrower may from time to time request
that Letters of Credit be issued in a currency other than those specifically listed in the definition of “Alternative Currency”;
provided that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable
and convertible into Dollars. Such request shall be subject to the approval of the Administrative Agent and the L/C Issuer (such
approval not to be unreasonably withheld or delayed).

 

(b)        Any such request shall be made to
the Administrative Agent not later than 11:00 a.m., ten Business Days prior to the date of the desired Credit Extension (or such
other time or date, as may be agreed by the Administrative Agent and the L/C Issuer, in their sole discretion). The Administrative
Agent shall promptly notify the L/C Issuer of any such request. The L/C Issuer shall notify the Administrative Agent, not later
than 11:00 a.m., five Business Days after receipt of such request, whether it consents to the issuance of Letters of Credit in
such requested currency (such consent not to be unreasonably withheld, conditioned or delayed).

    	-42-

    	

    

(c)        Any failure by the L/C Issuer to
respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by the L/C
Issuer to permit Letters of Credit to be issued in such requested currency. If the Administrative Agent and the L/C Issuer consent
to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify Borrower and such currency
shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances.
If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.5, the
Administrative Agent shall promptly so notify Borrower.

 

	 	1.6	Change of Currency.

 

(a)        Each obligation of Borrower to make
a payment denominated in the national currency unit of any member state of the European Union that adopts the Euro as its lawful
currency after the Closing Date shall be redenominated into Euro at the time of such adoption (in accordance with the EMU Legislation).
If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect
of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual
of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the
date on which such member state adopts the Euro as its lawful currency.

 

(b)        Each provision of this Agreement
shall be subject to such reasonable changes of construction, as the Administrative Agent may from time to time specify to be appropriate
to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices
relating to the Euro.

 

(c)        Each provision of this Agreement
also shall be subject to such reasonable changes of construction, as the Administrative Agent may from time to time specify to
be appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating
to the change in currency.

 

	 	1.7	Times of Day.

 

Unless otherwise specified, all references
herein to times of day shall be references to New York City time.

 

	 	1.8	Letter of Credit Amounts.

 

Unless otherwise specified herein, the amount
of a Letter of Credit at any time shall be deemed to be the Dollar Equivalent of the stated amount of such Letter of Credit in
effect at such time; provided, that with respect to any Letter of Credit that, by its terms or the terms of any Issuer
Document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter
of Credit shall be deemed to be the Dollar Equivalent of the maximum stated amount of such Letter of Credit after giving effect
to all such increases, whether or not such maximum stated amount is in effect at such time.

 

	 	1.9	Type of Loans and Borrowings.

 

For purposes of this Agreement, Loans or
Borrowings may be classified and referred to by its type (e.g., a “LIBOR Rate Loan” or “Base Rate Loans”).

    	-43-

    	

    

SECTION
2.

LOANS

 

	 	2.1	Loans.

 

(a)        Loan Commitments.

 

Subject to the terms and conditions hereof,
each Lender under each Tranche severally agrees to make Loans under such Tranche to Borrower from time to time, on any Business
Day during the applicable Availability Period; provided, however, that after giving effect to any Borrowing of Loans
under any Tranche, (i) the Outstanding Amount of all Loans and L/C Obligations, if any, under such Tranche shall not exceed the
aggregate Commitments under such Tranche, and (ii) the aggregate Outstanding Amount of the Loans of any Lender under such Tranche
plus such Lender’s Applicable Percentage of the Outstanding Amount of any L/C Obligations under such Tranche, if any, shall
not exceed such Lender’s Commitment under such Tranche. For the avoidance of doubt, Loans shall be made ratably across all
Commitments of each Tranche. Within the limits of each Lender’s Commitment under each Tranche, and subject to the other
terms and conditions hereof, Borrower may borrow under this Section 2.1(a), prepay under Section 2.9 or 2.10, and reborrow under
this Section 2.1(a). Loans may be Base Rate Loans or LIBOR Rate Loans, as further provided herein.

 

(b)        Borrowing Mechanics.

 

 (i)        Borrower
shall give notice to the Administrative Agent, which may be given by (A) telephone or (B) delivering a fully executed Funding
Notice; provided that any telephonic notice must be confirmed promptly by delivery to the Administrative Agent of a
Funding Notice. Each such Funding Notice must be received by the Administrative Agent no later than 10:00 a.m. (or, solely in
the case where the Credit Date is the Closing Date, 3:00 p.m.) at least three Business Days in advance of the proposed Credit
Date in the case of a Loan that is a LIBOR Rate Loan, and no later than 9:00 a.m. on the proposed Credit Date in the case of
a Loan that is a Base Rate Loan; provided, however, that if Borrower wishes to request LIBOR Rate Loans having
an Interest Period other than one, two, three or six months in duration, as provided in the definition of “Interest
Period,” the applicable notice must be received by the Administrative Agent not later than 10:00 a.m. four Business
Days prior to the requested date of such Borrowing, conversion or continuation, whereupon the Administrative Agent shall give
prompt notice to the Lenders of the applicable Tranche of such request and determine whether the requested Interest Period is
acceptable to all of them. Not later than 10:00 a.m., three Business Days before the requested date of such Borrowing,
conversion or continuation of the Loans of any Tranche, the Administrative Agent shall notify Borrower (which notice may be
by telephone to be followed by confirmation in writing) whether or not the requested Interest Period has been consented to by
all the Lenders of such Tranche. Each Borrowing of Loans shall be in a principal amount of $5,000,000 or a whole multiple of
$1,000,000 in excess thereof. Borrower shall be bound to make a borrowing in accordance with a Funding Notice for a Loan that
is a LIBOR Rate Loan, unless such Funding Notice is revoked by Borrower prior to the occurrence of the applicable Credit
Extension; provided that any such revocation shall be subject to the terms of Section 2.14(d). Promptly upon receipt
by Administrative Agent of any Funding Notice, Administrative Agent shall notify each Lender of the proposed borrowing.
Administrative Agent and Lenders may act without liability upon the basis of written, or telecopied notice believed by
Administrative Agent in good faith to be from Borrower (or from any Authorized Officer thereof designated in writing
purportedly from Borrower to Administrative Agent), it being understood that no Lender nor Administrative Agent shall be
obligated in any manner with respect to the funding of any Loan in the absence of the receipt by Administrative Agent of a
completed and executed Funding Notice. Administrative Agent and each Lender shall be entitled to rely conclusively on any
Authorized Officer’s

    	-44-

    	

    

authority to request a Loan on behalf of Borrower, until Administrative Agent and such Lenders receive written notice to the contrary.
Administrative Agent and Lenders shall have no duty to verify the authenticity of the signature appearing on any written Funding
Notice.

 

 (ii)       Each Lender of the applicable
Tranche shall make its Loan available to Administrative Agent not later than 12:00 noon on the applicable Credit Date, by wire
transfer of Same Day Funds in Dollars, at the Principal Office designated by the Administrative Agent. Upon satisfaction or waiver
of the conditions precedent specified herein, Administrative Agent shall make the proceeds of the Loans available to Borrower by
no later than 3:00 p.m. on the applicable Credit Date by causing an amount of Same Day Funds in Dollars equal to the proceeds of
all such Loans received by Administrative Agent by 12:00 noon on such day from Lenders to be credited to the account of Borrower
at the Principal Office designated by the Administrative Agent or to such other account, as may be designated in writing to Administrative
Agent by Borrower.

 

	 	2.2	Applicable Percentages; Availability of Funds.

 

(a)        Applicable Percentages. Any
Loan requested on a Credit Date shall be made by the applicable Lenders simultaneously and proportionately to their respective
Applicable Percentages, it being understood that no Lender shall be responsible for any default by any other Lender in such other
Lender’s obligation to make a Loan requested hereunder, nor shall any Commitment of any Lender be increased or decreased
as a result of a default by any other Lender in such other Lender’s obligation to make a Loan requested hereunder.

 

(b)        Availability of Funds. Unless
Administrative Agent shall have been notified by any Lender prior to the applicable Credit Date (or, in the case of a Base Rate
Loan, at least 2 hours before the time that Lenders are required to make their Loans available pursuant to Section 2.1(b)(ii)
on the applicable Credit Date) that such Lender does not intend to make available to Administrative Agent the amount of such Lender’s
Loan requested on such Credit Date, Administrative Agent may assume that such Lender has made such amount available to Administrative
Agent on such Credit Date and Administrative Agent may, in its sole discretion, but shall not be obligated to, make available
to Borrower a corresponding amount on such Credit Date. If such corresponding amount is not in fact made available to Administrative
Agent by such Lender, Administrative Agent shall be entitled to recover such corresponding amount on demand from such Lender,
together with interest thereon, for each day from such Credit Date, until the date such amount is paid to Administrative Agent,
at the customary rate set by Administrative Agent for the correction of errors among banks for three (3) Business Days and thereafter
at the Base Rate. If such Lender does not pay such corresponding amount forthwith upon Administrative Agent’s demand therefor,
Administrative Agent shall promptly notify Borrower and Borrower shall within one Business Day pay such corresponding amount to
Administrative Agent, together with interest thereon, for each day from such Credit Date until the date such amount is paid to
Administrative Agent, at the rate payable hereunder for Base Rate Loans. Nothing in this Section 2.2(b) shall be deemed to relieve
any Lender from its obligation to fulfill its Commitments hereunder or to prejudice any rights that Borrower may have against
any Lender as a result of any default by such Lender hereunder.

 

	 	2.3	Use of Proceeds.

 

Borrowings and Letters of Credit will be
used for general corporate purposes of Borrower and its Subsidiaries. No portion of the proceeds of any Credit Extension shall
be used in any manner that causes or might cause such Credit Extension or the application of such proceeds to violate Regulation
T, Regulation U or Regulation X of the Board of Governors of the Federal Reserve System or any other regulation thereof or to
violate the Exchange Act.

    	-45-

    	

    

	 	2.4	Evidence of Debt; Register; Lenders’ Books and Records; Notes.

 

(a)        Lenders’ Evidence of Debt.
Each Lender shall maintain on its internal records an account or accounts evidencing the Obligations of Borrower to such Lender,
including the amounts of the Loans made by it and each repayment and prepayment in respect thereof. Any such recordation shall
be conclusive and binding on Borrower absent manifest error; provided that the failure to make any such recordation, or
any error in such recordation, shall not affect any Lender’s Commitments or Borrower’s Obligations in respect of any
applicable Loans; and provided, further, in the event of any inconsistency between the Register and any Lender’s
records, the recordations in the Register shall govern.

 

(b)        Register. Administrative Agent
(or its agent or sub-agent) shall maintain at its Principal Office a register for the recordation of the names and addresses of
Lenders and the Commitments and Loans of each Lender from time to time (the “Register”), including the principal
amount of the Loans and Commitments. The Register shall be available for inspection by Borrower, the L/C Issuer and any Lender
at any reasonable time and from time to time upon reasonable prior notice. Administrative Agent shall record, or shall cause to
be recorded, in the Register, the Commitments and the Loans in accordance with the provisions of Section 10.6, and each repayment
or prepayment in respect of the principal amount of the Loans, and any such recordation shall be conclusive and binding on Borrower
and each Lender, absent manifest error; provided that failure to make any such recordation, or any error in such recordation,
shall not affect any Lender’s Commitments or Borrower’s Obligations in respect of any Loan. Borrower hereby designates
the entity serving as Administrative Agent to serve as Borrower’s agent solely for purposes of maintaining the Register
as provided in this Section 2.4, and Borrower hereby agrees that, to the extent such entity serves in such capacity, the entity
serving as Administrative Agent and its officers, directors, employees, agents and affiliates shall constitute “Indemnitees.”

 

(c)        Notes. If so requested by
any Lender by written notice to Borrower (with a copy to Administrative Agent), Borrower promptly shall execute and deliver to
such Lender (and/or, if applicable and if so specified in such notice, to any Person who is an assignee of such Lender pursuant
to Section 10.6) on the Closing Date (or, if such notice is delivered after the Closing Date, promptly after Borrower’s
receipt of such notice) a Note or Notes to evidence such Lender’s Commitment.

 

	 	2.5	Interest on Loans.

 

(a)        Except as otherwise set forth herein,
each Loan shall bear interest on the unpaid principal amount thereof from the date made through repayment thereof (whether by
acceleration or otherwise) as follows:

 

(i)        if a Base Rate Loan, at the Base Rate plus the Applicable Margin; or

 

(ii)       if a LIBOR Rate Loan, at the Adjusted LIBOR Rate plus the Applicable Margin.

 

(b)        The basis for determining the rate
of interest with respect to any Loan, and the Interest Period with respect to any LIBOR Rate Loan, shall be selected by Borrower
and notified to Administrative Agent and Lenders pursuant to the applicable Funding Notice or Conversion/Continuation Notice,
as the case may be. If, on any day, a Loan is outstanding with respect to which a Funding Notice or Conversion/Continuation Notice
has not been delivered to Administrative Agent in accordance with the terms hereof specifying the applicable basis for determining
the rate of interest, then for that day such Loan shall be a Base Rate Loan.

    	-46-

    	

    

(c)        In connection with LIBOR Rate Loans,
there shall be no more than ten (10) Interest Periods outstanding at any time. In the event Borrower fails to specify between
a Base Rate Loan or a LIBOR Rate Loan in the applicable Funding Notice or Conversion/Continuation Notice, such Loan (if outstanding
as a LIBOR Rate Loan) will be automatically converted into a Base Rate Loan on the last day of the then current Interest Period
for such Loan (or if outstanding as a Base Rate Loan will remain as, or (if not then outstanding) will be made as, a Base Rate
Loan). In the event Borrower fails to specify an Interest Period for any LIBOR Rate Loan in the applicable Funding Notice or Conversion/Continuation
Notice, Borrower shall be deemed to have selected an Interest Period of one month. As soon as practicable after 10:00 a.m. on
each Interest Rate Determination Date, Administrative Agent shall determine (which determination shall, absent manifest error,
be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Rate Loans for which an interest
rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone
confirmed in writing) to Borrower and each Lender.

 

(d)        Interest payable pursuant to Section
2.5(a) shall be computed on the basis of a 360 day year with respect to LIBOR Rate Loans and a 365/366 day year with respect to
Base Rate Loans, in each case, for the actual number of days elapsed in the period during which it accrues. In computing interest
on any Loan, the date of the making of such Loan or the first day of an Interest Period applicable to such Loan or, the last Interest
Payment Date with respect to such Loan or, with respect to a Base Rate Loan being converted from a LIBOR Rate Loan, the date of
conversion of such LIBOR Rate Loan to such Base Rate Loan, as the case may be, shall be included, and the date of payment of such
Loan or the expiration date of an Interest Period applicable to such Loan or, with respect to a Base Rate Loan being converted
to a LIBOR Rate Loan, the date of conversion of such Base Rate Loan to such LIBOR Rate Loan, as the case may be, shall be excluded;
provided, if a Loan is repaid on the same day on which it is made, one day’s interest shall be paid on that Loan.

 

(e)        Except as otherwise set forth herein,
interest on each Loan shall accrue on a daily basis and be payable in arrears (i) on each Interest Payment Date; and (ii) upon
any reduction or termination of Commitments, on the principal amount of Loans repaid in connection with such reduction or termination.
Any interest on a Loan which is not paid when due shall, to the extent permitted by applicable Law, bear interest at the same
rate as is applicable to that Loan, and such interest on interest shall be payable in arrears at the same times as interest on
that Loan and shall, if not paid when due, compound daily.

 

	 	2.6	Conversion/Continuation.

 

(a)        Subject to Section 2.14, Borrower
shall have the option:

 

(i)        to convert at any time
all or any part of any Loan equal to $500,000 and integral multiples of $100,000 in excess of that amount from one type of Loan
to another type of Loan; provided, a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable
to such LIBOR Rate Loan, unless Borrower shall pay all amounts due under Section 2.14 in connection with any such conversion;
or

 

(ii)       upon the expiration of
any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Loan equal to $500,000 and integral
multiples of $100,000 in excess of that amount as a LIBOR Rate Loan;

 

provided, however, in the case of clauses (i)
and (ii), that during the existence of an Event of Default, no Loan may be converted to or continued as a LIBOR Rate Loan without
the consent of the Requisite Lenders.

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(b)        Borrower shall deliver a Conversion/Continuation
Notice to Administrative Agent no later than 10:00 a.m. at least one Business Day in advance of the proposed conversion date (in
the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation
date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation
Notice for conversion to, or continuation of, any LIBOR Rate Loans shall be irrevocable on and after the related Interest Rate
Determination Date, and Borrower shall be bound to effect a conversion or continuation in accordance therewith.

 

	 	2.7	Default Interest.

 

Any payment not made when due hereunder
shall thereafter bear interest (including post-petition interest in any proceeding under the Bankruptcy Code or other applicable
bankruptcy laws, whether or not allowed in such a proceeding) payable on demand or, if no demand is made, at the time specified
below, at a rate that is two percent (2.0%) per annum in excess of the interest rate otherwise payable hereunder with respect
to the applicable Loans (or, in the case of any such fees and other amounts, at a rate which is two percent (2.0%) per annum in
excess of the interest rate otherwise payable hereunder for Base Rate Loans); provided, in the case of LIBOR Rate Loans,
upon the expiration of the Interest Period in effect at the time any such increase in interest rate is effective, such LIBOR Rate
Loans shall thereupon become Base Rate Loans and shall thereafter bear interest payable upon demand at a rate which is two percent
(2.0%) per annum in excess of the interest rate otherwise payable hereunder for Base Rate Loans. To the extent no demand therefor
has been previously made, such interest shall be payable in arrears at the same times as interest on each Loan and shall, if not
paid when due, compound daily. Payment or acceptance of the increased rates of interest provided for in this Section 2.7 is not
a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or
limit any rights or remedies of Administrative Agent or any Lender.

 

	 	2.8	Fees.

 

(a)        Borrower agrees to pay for the account
of the applicable Lenders the following fees:

 

(i)       an aggregate commitment
fee (“Commitment Fee”) equal to (x) the Commitment Rate Percentage times (y) (I) with respect to Tranche
1 Lenders, the actual daily amount by which the Tranche 1 Total Commitments exceeds the Tranche 1 Outstandings and (II) with respect
to Tranche 2 Lenders, the actual daily amount by which the Tranche 2 Total Commitments exceeds the Tranche 2 Outstandings, to
be allocated among the Lenders of the applicable Tranche according to their Applicable Percentages on each such day;

 

(ii)       an upfront fee (“Upfront
Fee”) to each Lender on the Amendment No. 2 Effective Date, in an amount equal to 0.10% of the sum of the amounts set
forth opposite the name of such Lender on Schedule 2.1 under the headings “Tranche 1E Commitments” and “Tranche
2E Commitments” ; and

 

(iii)       an aggregate fee (“L/C
Participation Fee”) equal to (x) the aggregate Dollar Equivalent of the L/C Obligations on each day times (y)
the Applicable Margin for LIBOR Rate Loans, to be allocated among the Tranche 2 Lenders according to their Applicable Percentages;
provided, however, any L/C Participation Fees otherwise payable for the account of a Defaulting Lender with respect
to any Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral satisfactory to the L/C Issuer pursuant
to Section 2.20 shall be payable, to the maximum extent permitted by applicable Law, to the other Tranche 2 Lenders in accordance
with 

    	-48-

    	

    

the upward adjustments in their respective Applicable Percentages allocable to such Letter of Credit pursuant to Section
2.18, with the balance of such fee, if any, payable to the L/C Issuer for its own account.

 

(b)        Borrower agrees to pay to the L/C
Issuer (i) a fronting fee equal to (x) 0.25% per annum times (y) the actual daily amount of the aggregate Dollar Equivalent
of all L/C Obligations; and (ii) customary issuance, presentation, amendment and other processing fees, and other standard costs
and charges, of the L/C Issuer relating to letters of credit and bankers’ acceptances, as from time to time in effect ,as
notified in writing from the L/C Issuer to the Borrower (such fees in effect as of the Closing Date, as provided to Borrower prior
to or on the Closing Date). Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.

 

(c)        All fees referred to in Sections
2.8(a)(i) and (iii) and Section 2.8(b)(i) shall be calculated on the basis of a 360 day year and the actual number of days elapsed
in the applicable period and shall be payable quarterly in arrears on the last day of each Fiscal Quarter during the applicable
period, commencing on the first such date to occur after the Closing Date, and on the date of termination of the Commitments.
The Upfront Fee shall be paid on the Closing Date.

 

(d)        In addition to any of the foregoing
fees, Borrower agrees to pay to the Administrative Agent all fees separately agreed in the amounts and at the times so agreed.

 

	 	2.9	Voluntary Prepayments and Commitment Reductions.

 

(a)        Any
time and from time to time, Borrower may prepay any Loans of any Tranche on any Business Day, in whole or in part, in an
aggregate minimum amount of $500,000; provided that Notice of Prepayment shall be given to the Administrative Agent
not later than 12:00 noon, on the Business Day prior to the date of prepayment in the case of Base Rate Loans and on the
third Business Day prior to the date of prepayment in the case of LIBOR Rate Loans.  Upon the giving of any Notice of
Prepayment, the principal amount of the Loans of the Tranche specified in the Notice of Prepayment (together with any amounts
due pursuant to Section 2.14(d) in the case of LIBOR Rate Loans) shall become due and payable on the prepayment date
specified therein. For the avoidance of doubt, each prepayment of Loans of any Tranche shall be applied ratably among all
Series of Loans of such Tranche.

 

(b)        Any time and from time to time, Borrower
may terminate or permanently reduce, in whole or in part, the aggregate Commitments under any Tranche; provided that (i)
notice of such termination or reduction shall be received by the Administrative Agent not later than 11:00 a.m. five Business
Days prior to the date of such termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000
or any whole multiple of $1,000,000 in excess thereof and (iii) the Borrower shall not terminate or reduce the Commitments under
any Tranche if, after giving effect thereto and to any concurrent prepayments hereunder, the Outstanding Amount of all Loans and
L/C Obligations under such Tranche would exceed the aggregate Commitments under such Tranche.

 

	 	2.10	Mandatory Prepayments; Commitment Termination.

 

(a)        If for any reason the Tranche 1 Outstandings
at any time exceed the Tranche 1 Total Commitments, Borrower shall, within three Business Days, prepay the Tranche 1 Loans in
an aggregate amount sufficient to reduce the Tranche 1 Outstandings as of such date of payment to an amount not to exceed the
Tranche 1 Total Commitments.

 

(b)        If for any reason the Tranche 2 Outstandings
at any time exceed the Tranche 2 Total Commitments, Borrower shall, within three Business Days, prepay the Tranche 2 Loans and/or

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Cash Collateralize L/C Obligations in an aggregate
amount sufficient to reduce the Tranche 2 Outstandings as of such date of payment to an amount not to exceed the Tranche 2 Total
Commitments; provided that for this purpose only, L/C Obligations that are Cash Collateralized in an amount equal to the
Applicable Cash Collateralization Percentage of the amount of L/C Obligations shall be disregarded from the calculation of Tranche
2 Outstandings.

 

(c)        Each
Series of Commitments shall terminate on the applicable Final Maturity Date. All Loans of such Series shall be due and payable
on such Final Maturity Date.

 

	 	2.11	Application of Commitment Reductions and Payments.

 

(a)        Each
reduction of Commitments of any Tranche shall reduce the Commitment of each Lender of such Tranche ratably according to such Lender’s
Applicable Percentage of such Tranche.

 

(b)        Each
payment by any Credit Party in respect of the principal, interest or fees of any Tranche shall be paid to the Lenders of such Tranche
ratably according to such Lender’s Applicable Percentage of such Tranche.

 

(c)        Except
for any payment made in respect of the Tranche 1N Loans or the Tranche 2N Loans on the Final Maturity Date of such Loans (in which
case any payment by any Credit Party shall be paid first to the Lenders of each such Series on a ratable basis before such payment
is applied to any Tranche 1E Loans or Tranche 2E Loans), any prepayment of Loans of any Tranche shall be applied first to Base
Rate Loans of such Tranche to the full extent thereof before application to LIBOR Rate Loans of such Tranche, in each case, in
a manner which minimizes the amount of any payments required to be made by Borrower pursuant to Section 2.14(d).

 

	 	2.12	General Provisions Regarding Payments.

 

(a)        All
payments by Borrower of principal, interest, fees and other Obligations shall be made in Dollars in Same Day Funds, without recoupment,
setoff, counterclaim or other defense free of any restriction or condition, and delivered to Administrative Agent not later than
12:00 noon on the date due at the Principal Office designated by the Administrative Agent for the account of Lenders; funds received
by Administrative Agent after that time on such due date shall be deemed to have been paid by Borrower on the next Business Day.

 

(b)        Administrative
Agent (or its agent or sub-agent appointed by it) shall promptly distribute to each applicable Lender at such address, as such
Lender shall indicate in writing, such Lender’s Applicable Percentage of all payments and prepayments of principal and interest
due hereunder, together with all other amounts due thereto, including all fees payable with respect thereto, to the extent received
by Administrative Agent.

 

(c)        Notwithstanding
the foregoing provisions hereof, if any Conversion/Continuation Notice is withdrawn as to any Affected Lender or if any Affected
Lender of any Tranche makes Base Rate Loans in lieu of its Applicable Percentage of any LIBOR Rate Loans of such Tranche, Administrative
Agent shall give effect thereto in apportioning payments received thereafter.

 

(d)        Subject
to the proviso set forth in the definition of “Interest Period,” whenever any payment to be made hereunder shall be
stated to be due on a day that is not a Business Day, such payment shall be made on the next succeeding Business Day and such extension
of time shall be included in the computation of the payment of interest hereunder or of fees hereunder.

    	-50-

    	

    

(e)        Administrative
Agent shall deem any payment by or on behalf of Borrower hereunder that is not made in Same Day Funds prior to 12:00 noon to be
a non-conforming payment. Any such payment shall not be deemed to have been received by Administrative Agent until the later of
(i) the time such funds become available funds, and (ii) the next Business Day. Interest shall continue to accrue on any principal
as to which a non-conforming payment is made, until such funds become available funds (but in no event less than the period from
the date of such payment to the next succeeding applicable Business Day) at the Default Rate determined pursuant to Section 2.7
from the date such amount was due and payable until the date such amount is paid in full.

 

(f)        If
an Event of Default shall have occurred and be continuing, all payments or proceeds received by the Administrative Agent hereunder
in respect of any of the Obligations shall be applied:

 

first, to pay any costs, expenses,
indemnities, fees or premiums (including fees, charges and disbursements of counsel to the Administrative Agent, Arrangers and
Other Agents) then due to Administrative Agent, Arrangers and Other Agents under the Credit Documents, until paid in full, including,
without limitation, amounts payable under Sections 2.14, 2.15 and 2.16 and expenses under Section 10.2;

 

second, ratably to pay any expenses
or indemnities then due to any of the Lenders and the L/C Issuer under the Credit Documents, ratably among the Lenders and the
L/C Issuer, until paid in full;

 

third, ratably to pay interest
and fees due in respect of the Loans, L/C Obligations, L/C Borrowings and Letters of Credit, ratably among the Lenders and the
L/C Issuer, until paid in full;

 

fourth, ratably to pay the principal
amount of all Loans and L/C Borrowings then outstanding, ratably among the Lenders and the L/C Issuer in proportion to the respective
amounts, until paid in full;

 

fifth, to the Administrative Agent
for the account of the L/C Issuer, to Cash Collateralize at the Applicable Cash Collateralization Percentage that portion of L/C
Obligations comprised of the aggregate undrawn amount of Letters of Credit issued by the L/C Issuer;

 

sixth, to pay ratably any other
Obligations then due and payable; and

 

seventh, the balance, if any, to
the Person lawfully entitled thereto (including the applicable Credit Party or its successors or assigns) or as a court of competent
jurisdiction may direct.

 

	 	2.13	Ratable Sharing.

 

If any Lender shall, by exercising any right
of setoff or counterclaim or otherwise, obtain payment in respect of (a) Obligations due and payable to such Lender hereunder and
under the other Credit Documents at such time in excess of its ratable share (according to the proportion of (i) the amount of
such Obligations due and payable to such Lender at such time to (ii) the aggregate amount of the Obligations due and payable to
all Lenders hereunder and under the other Credit Documents at such time) of payments on account of the Obligations due and payable
to all Lenders hereunder and under the other Credit Documents at such time obtained by all the Lenders at such time or (b) Obligations
owing (but not

    	-51-

    	

    

due and payable) to such Lender hereunder
and under the other Credit Documents at such time in excess of its ratable share (according to the proportion of (i) the amount
of such Obligations owing (but not due and payable) to such Lender at such time to (ii) the aggregate amount of the Obligations
owing (but not due and payable) to all Lenders hereunder and under the other Credit Parties at such time) of payment on account
of the Obligations owing (but not due and payable) to all Lenders hereunder and under the other Credit Documents at such time obtained
by all of the Lenders at such time, then the Lender receiving such greater proportion shall (a) notify the Administrative Agent
of such fact, and (b) purchase (for cash at face value) participations in the Loans and subparticipations in L/C Obligations of
the other Lenders, or make such other adjustments, as shall be equitable, so that the benefit of all such payments shall be shared
by the Lenders ratably in accordance with the aggregate amount of Obligations then due and payable to the Lenders or owing (but
not due and payable) to the Lenders, as the case may be, provided that:

 

(i)        if
any such participations or subparticipations are purchased and all or any portion of the payment giving rise thereto is recovered,
such participations or subparticipations shall be rescinded and the purchase price paid for such participations shall be returned
to such purchasing Lender ratably to the extent of such recovery, without interest; and

 

(ii)       the
provisions of this Section shall not be construed to apply to (x) any payment made by or on behalf of the Borrower pursuant to
and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of a
Defaulting Lender), (y) the application of Cash Collateral in accordance with the express terms of this Agreement (including the
application of Cash Collateral to the satisfaction of the specific L/C Obligations and other applicable obligations for which the
Cash Collateral was so provided), or (z) any payment obtained by a Lender as consideration for the assignment of or sale of a participation
in any of its Loans or subparticipations in L/C Obligations to any assignee or participant, other than an assignment to Borrower
or any Subsidiary thereof (as to which the provisions of this Section shall apply).

 

Borrower, on behalf of each Credit Party,
consents to the foregoing and agrees, to the extent it may effectively do so under applicable Law, that any Lender acquiring a
participation pursuant to the foregoing arrangements may exercise against such Credit Party rights of setoff and counterclaim with
respect to such participation, as fully as if such Lender were a direct creditor of such Credit Party in the amount of such participation.

 

	 	2.14	Making or Maintaining LIBOR Rate Loans.

 

(a)        Inability
to Determine Applicable Interest Rate. In the event that Administrative Agent shall have determined (which determination shall
be final and conclusive and binding upon all parties hereto absent manifest error), on any Interest Rate Determination Date with
respect to any LIBOR Rate Loans, that (i) Dollar deposits are not being offered to banks in the London interbank market for the
applicable amount and Interest Period of such LIBOR Rate Loans or (ii) adequate and fair means do not exist for ascertaining the
interest rate applicable to such LIBOR Rate Loans on the basis provided for in the definition of Adjusted LIBOR Rate (in the case
with respect to clause (i) above, the “Impacted Loans”), Administrative Agent shall on such date give notice
(by telecopy or by telephone confirmed in writing) to Borrower and each Lender of such determination, whereupon (x) no Loans may
be made as, or converted to, LIBOR Rate Loans (to the extent of the affected LIBOR Rate Loans or Interest Periods), until such
time, as Administrative Agent notifies Borrower and Lenders that the circumstances giving rise to such notice no longer exist,
and (y) any Funding Notice or Conversion/Continuation Notice given by Borrower with respect to the Loans in respect of which such
determination was made shall be deemed to be rescinded by Borrower.

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Notwithstanding the foregoing, if the Administrative
Agent has made the determination described in clause (a)(i) of this section, the Administrative Agent, in consultation with the
Borrower and the affected Lenders, may establish an alternative interest rate for the Impacted Loans, in which case, such alternative
rate of interest shall apply with respect to the Impacted Loans until (1) the Administrative Agent revokes the notice delivered
with respect to the Impacted Loans under clause (a) of the first sentence of this section (which it shall use commercially reasonable
efforts to do promptly upon cessation of the circumstances described therein), (2) the Administrative Agent or the affected Lenders
notify the Administrative Agent and the Borrower that such alternative interest rate does not adequately and fairly reflect the
cost to such Lenders of funding the Impacted Loans, or (3) any Lender determines that any Law has made it unlawful, or that any
Governmental Authority has asserted that it is unlawful, for such Lender or its applicable lending office to make, maintain or
fund Loans whose interest is determined by reference to such alternative rate of interest or to determine or charge interest rates
based upon such rate or any Governmental Authority has imposed material restrictions on the authority of such Lender to do any
of the foregoing and provides the Administrative Agent and the Borrower written notice thereof.

 

(b)        Notwithstanding
anything to the contrary in this Agreement or any other Credit Document, if at any time from and after (x) all Tranche 1N Commitments
and Tranche 2N Commitments have been terminated and all Tranche 1N Exposures and Tranche 2N Exposures have been paid, the Administrative
Agent reasonably determines (which determination shall be conclusive absent manifest error), or Borrower or the Requisite Lenders
notify the Administrative Agent (with, in the case of the Requisite Lenders, a copy to Borrower) that the Borrower or the Requisite
Lenders (as applicable) have determined, that (i) adequate and reasonable means do not exist for ascertaining LIBOR for any requesting
Interest Period, including because the LIBOR Screen Rate is not available or published on a current basis and such circumstances
are unlikely to be temporary, or (ii) the administrator of the LIBOR Screen Rate or a Governmental Authority having jurisdiction
over the Administrative Agent has made a public statement identifying a specific date after which LIBOR or the LIBOR Screen Rate
shall no longer be made available or used for determining the interest rate of loans (such specific date, the “Scheduled
Unavailability Date”), or (iii) syndicated loans currently being executed, or that include language similar to that contained
in this Section 2.14 are being executed or amended (as applicable), to incorporate or adopt a new benchmark interest rate to replace
LIBOR, then reasonably promptly after such determination by the Administrative Agent or receipt by the Administrative Agent of
such notice, as applicable, the Administrative Agent and the Borrower may amend this Agreement to replace LIBOR with an alternate
benchmark rate (including any mathematical or other adjustments to the benchmark (if any) incorporated therein), giving due consideration
to any evolving or then existing convention for similar U.S. dollar denominated syndicated credit facilities for such alternative
benchmarks (any such proposed rate, a “LIBOR Successor Rate”), together with any proposed LIBOR Successor Rate
Conforming Changes. Notwithstanding anything to the contrary in Section 10.5, such amendment shall become effective without any
further action or consent of any other party to this Agreement at 5:00 p.m. on the fifth Business Day after the Administrative
Agent shall have posted such proposed amendment to all Lenders and Borrower unless, prior to such time, Lenders comprising the
Requisite Lenders have delivered to the Administrative Agent written notice that such Lenders do not accept such amendment. If
no LIBOR Successor Rate has been determined in accordance with this paragraph and the circumstances under clause (i) above exist
or the Scheduled Unavailability Date has occurred (as applicable), the Administrative Agent will promptly so notify the Borrower
and each Lender. Thereafter, (x) the obligation of the Lenders to make or maintain LIBOR Rate Loans shall be suspended, (to the
extent of the affected LIBOR Rate Loans or Interest Periods), and (y) the Eurodollar Rate component shall no longer be utilized
in determining the Base Rate. Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion
to or continuation of LIBOR Rate Loans (to the extent of the affected LIBOR Rate Loans or Interest Periods) or, failing that, will
be deemed to have converted such request into a request for a Committed Borrowing of Base Rate Loans (subject to the foregoing
clause (y)) in the amount specified therein. Notwithstanding anything else herein, any definition of

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LIBOR Successor Rate shall provide that in
no event shall such LIBOR Successor Rate be less than zero for purposes of this Agreement.

 

(c)        Illegality
or Impracticability of LIBOR Rate Loans. In the event that, on any date, any Lender shall have determined (which determination
shall be final and conclusive and binding upon all parties hereto, but shall be made only after consultation with Borrower and
Administrative Agent) that the performance of any of its obligations hereunder or making, maintaining, continuation of or funding
or charging interest with respect to any Credit Extension (i) has become unlawful as a result of compliance by such Lender in good
faith with any law, treaty, governmental rule, regulation, guideline or order (or would conflict with any such treaty, governmental
rule, regulation, guideline or order not having the force of law, even though the failure to comply therewith would not be unlawful),
or (ii) has become impracticable, as a result of contingencies occurring after the Closing Date which materially and adversely
affect the London interbank market or the position of such Lender in that market, then, and in any such event, such Lender shall
be an “Affected Lender” and it shall on that day give notice (by telecopy or by telephone confirmed in writing)
to Borrower and Administrative Agent of such determination (which notice Administrative Agent shall promptly transmit to each other
Lender). If the Administrative Agent receives a notice from (x) any Lender pursuant to clause (i) of the preceding sentence or
(y) a notice from Lenders constituting the Requisite Lenders pursuant to clause (ii) of the preceding sentence, then (1) the obligation
of the Lenders (or, in the case of any notice pursuant to clause (i) of the preceding sentence, such Lender) to issue, make, maintain,
fund or charge interest with respect to any such Credit Extension as, or to convert Loans to, LIBOR Rate Loans shall be suspended,
until such notice shall be withdrawn by the Affected Lender, (2) to the extent such determination by the Affected Lender relates
to a LIBOR Rate Loan then being requested by Borrower pursuant to a Funding Notice or a Conversion/Continuation Notice, the Lenders
(or, in the case of any notice pursuant to clause (i) of the preceding sentence, such Lender) shall make such Loan as (or continue
such Loan as or convert such Loan to, as the case may be) a Base Rate Loan, (3) the Lenders’ (or, in the case of any notice
pursuant to clause (i) of the preceding sentence, such Lender’s) obligation to maintain its outstanding LIBOR Rate Loans
(the “Affected Loans”) shall be terminated at the earlier to occur of the expiration of the Interest Period
then in effect with respect to the Affected Loans or when required by law, and (4) the Affected Loans shall automatically convert
into Base Rate Loans on the date of such termination. Borrower shall pay accrued interest on the amount so converted and all amounts
due under Section 2.14(d) in accordance with the terms thereof due to such conversion. Notwithstanding the foregoing, to the extent
a determination by an Affected Lender, as described above, relates to a LIBOR Rate Loan then being requested by Borrower pursuant
to a Funding Notice or a Conversion/Continuation Notice, Borrower shall have the option, subject to the provisions of Section 2.14(d),
to rescind such Funding Notice or Conversion/Continuation Notice as to all Lenders by giving notice (by telecopy) to Administrative
Agent of such rescission on the date on which the Affected Lender gives notice of its determination, as described above (which
notice of rescission Administrative Agent shall promptly transmit to each other Lender). Except as provided in the immediately
preceding sentence, nothing in this Section 2.14(c) shall affect the obligation of any Lender, other than an Affected Lender, to
make or maintain Loans as, or to convert Loans to, LIBOR Rate Loans in accordance with the terms hereof.

 

(d)        Compensation
for Breakage or Non-Commencement of Interest Periods. Borrower shall compensate each Lender, upon written request by such Lender
(which request shall set forth the basis for requesting such amounts), for all reasonable losses, expenses and liabilities (including
any interest paid or calculated to be due and payable by such Lender to lenders of funds borrowed by it to make or carry its LIBOR
Rate Loans and any loss, expense or liability sustained by such Lender in connection with the liquidation or reemployment of such
funds, but excluding loss of anticipated profits) which such Lender may sustain: (i) if, for any reason (other than a default by
such Lender or pursuant to Section 2.14(a)(ii)), a borrowing of any LIBOR Rate Loan does not occur on a date specified therefor
in a Funding Notice, or a conversion to or continuation of any LIBOR Rate Loan does not occur on a date

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specified therefor in a Conversion/Continuation
Notice; (ii) if any prepayment or other principal payment of, or any conversion of, any of its LIBOR Rate Loans occurs on any day,
other than the last day of an Interest Period applicable to that Loan (whether voluntary, mandatory, automatic, by reason of acceleration,
or otherwise); or (iii) if any prepayment of any of its LIBOR Rate Loans is not made on any date specified in a notice of prepayment
given by Borrower.

 

(e)        Booking
of LIBOR Rate Loans. Any Lender may make, carry or transfer LIBOR Rate Loans at, to, or for the account of, any of its branch
offices or the office of an Affiliate of such Lender.

 

(f)         Assumptions
Concerning Funding of LIBOR Rate Loans. Calculation of all amounts payable to a Lender under this Section 2.14 and under Section
2.15 shall be made, as though such Lender had actually funded each of its relevant LIBOR Rate Loans through the purchase of a LIBOR
deposit bearing interest at the rate obtained pursuant to the definition of Adjusted LIBOR Rate in an amount equal to the amount
of such LIBOR Rate Loan and having a maturity comparable to the relevant Interest Period and through the transfer of such LIBOR
deposit from an offshore office of such Lender to a domestic office of such Lender in the United States of America; provided,
however, each Lender may fund each of its LIBOR Rate Loans in any manner it sees fit and the foregoing assumptions shall
be utilized only for the purposes of calculating amounts payable under this Section 2.14 and under Section 2.15.

 

	 	2.15	Increased Costs; Capital Adequacy; Reserves on LIBOR Rate Loans.

 

(a)        Compensation
For Increased Costs. Subject to the provisions of Section 2.16 (which shall be controlling with respect to the matters covered
thereby), in the event that any Lender shall determine (which determination shall, absent manifest error, be final and conclusive
and binding upon all parties hereto) that any law, treaty or governmental rule, regulation or order, or any change therein or in
the interpretation, administration or application thereof (including the introduction of any new law, treaty or governmental rule,
regulation or order), or any determination of a court or governmental authority, in each case, that becomes effective after the
Closing Date, or compliance by such Lender with any guideline, request or directive issued or made after the Closing Date by any
central bank or other governmental or quasi-governmental authority (whether or not having the force of law) (i) subjects such Lender
(or its applicable lending office) to any additional Tax (other than any Excluded Taxes of such Lender, or any Indemnified Taxes
or Other Taxes indemnifiable under Section 2.16) with respect to this Agreement or any of the other Credit Documents or any of
its obligations hereunder or thereunder or any payments to such Lender (or its applicable lending office) of principal, interest,
fees or any other amount payable hereunder; (ii) imposes, modifies or holds applicable any reserve (including any marginal, emergency,
supplemental, special or other reserve), special deposit, compulsory loan, FDIC insurance or similar requirement against assets
held by, or deposits or other liabilities in, or for the account of, or advances or loans by, or other credit extended by, or any
other acquisition of funds by, any office of such Lender (other than any such reserve or other requirements with respect to LIBOR
Rate Loans that are reflected in the definition of Adjusted LIBOR Rate); or (iii) imposes any other condition (other than with
respect to a Tax matter) on or affecting such Lender (or its applicable lending office) or its obligations hereunder or the London
interbank market; and the result of any of the foregoing is to increase the cost to such Lender of agreeing to make, making or
maintaining Loans hereunder or to reduce any amount received or receivable by such Lender (or its applicable lending office) with
respect thereto; then, in any such case, Borrower shall promptly pay to such Lender, upon receipt of the statement referred to
in the next sentence, such additional amount or amounts (in the form of an increased rate of, or a different method of calculating,
interest or otherwise, as such Lender in its reasonable judgment shall determine), as may be necessary to compensate such Lender
on an after tax basis for any such increased cost or reduction in amounts received or receivable hereunder. Such Lender shall deliver
to Borrower (with a

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copy to Administrative Agent) a written statement,
setting forth in reasonable detail the basis for calculating the additional amounts owed to such Lender under this Section 2.15(a),
which statement shall be conclusive and binding upon all parties hereto absent manifest error.

 

(b)        Capital
or Liquidity Adequacy Adjustment. In the event that any Lender shall have determined that the adoption, effectiveness, phase
in or applicability after the Closing Date of any law, rule or regulation (or any provision thereof) regarding capital adequacy
or liquidity requirement, or any change therein or in the interpretation or administration thereof by any Governmental Authority,
central bank or comparable agency charged with the interpretation or administration thereof, in each case, after the Closing Date,
or compliance by any Lender (or its applicable lending office) with any guideline, request or directive regarding capital adequacy
or liquidity requirement (whether or not having the force of law) of any such Governmental Authority, central bank or comparable
agency issued, becoming effective, phased-in or made after the Closing Date, has or would have the effect of reducing the rate
of return on the capital of such Lender or any corporation controlling such Lender as a consequence of, or with reference to, such
Lender’s Loans, or participations therein or other obligations hereunder with respect to the Loans to a level below that
which such Lender or such controlling corporation could have achieved, but for such adoption, effectiveness, phase in, applicability,
change or compliance (taking into consideration the policies of such Lender or such controlling corporation with regard to capital
adequacy or liquidity requirement), then, from time to time, within five Business Days after receipt by Borrower from such Lender
of the statement referred to in the next sentence, Borrower shall pay to such Lender such additional amount or amounts, as will
compensate such Lender or such controlling corporation, on an after tax basis, for such reduction. Such Lender shall deliver to
Borrower (with a copy to Administrative Agent) a written statement, setting forth in reasonable detail the basis for calculating
the additional amounts owed to Lender under this Section 2.15(b), which statement shall be conclusive and binding upon all parties
hereto absent manifest error.

 

(c)        Dodd-Frank;
Basel III. Notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act
and all requests, rules, guidelines or directives thereunder or issued in connection therewith (“Dodd-Frank”)
and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee
on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each
case, pursuant to Basel III, shall, in each case, be deemed to be a “change in Law,” regardless of the date enacted,
adopted or issued. With respect to amounts due pursuant to Sections 2.15(a) and (b) as a result of changes in Law relating to Dodd-Frank
or Basel III, the claim for additional amounts shall be generally consistent with such Lender’s treatment of customers of
such Lender that such Lender considers, in its reasonable discretion, to be similarly situated as Borrower and having generally
similar provisions in their agreements with such Lender, provided that such Lender shall not be required to disclose any
confidential or proprietary information.

 

(d)        L/C
Issuer. For purposes of this Section 2.15, the term “Lender” shall include the L/C Issuer.

 

	 	2.16	Taxes; Withholding, etc.

 

(a)        Payments
to Be Free and Clear. All sums payable by any Credit Party hereunder and under the other Credit Documents shall (except to
the extent required by Law) be paid free and clear of, and without any deduction or withholding on account of, any Taxes.

 

(b)        Withholding
of Taxes. If any Credit Party or any other Person is required by Law to make any deduction or withholding on account of any
Indemnified Tax or Other Taxes from any sum paid or payable under any of the Credit Documents: (i) Borrower shall notify Administrative
Agent

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of any such requirement or any change in any
such requirement as soon as Borrower becomes aware of it; (ii) the Credit Parties or other Person shall make such deduction or
withholding and pay any such Indemnified Tax or Other Taxes to the relevant Governmental Authority before the date on which penalties
attach thereto; (iii) the sum payable by such Credit Party in respect of which the relevant deduction or withholding is required
shall be increased, to the extent necessary to ensure that after any such deduction or withholding (including deduction or withholding
attributable to amounts payable under this Section 2.16), Administrative Agent, the L/C Issuer or such Lender, as the case may
be, and each of their Tax Related Persons receives on the due date a net sum equal to what it would have received had no such deduction
or withholding been required; and (iv) within thirty (30) days after making any such deduction or withholding, Borrower shall deliver
to Administrative Agent evidence reasonably satisfactory to the other affected parties of such deduction or withholding and of
the remittance thereof to the relevant taxing or other authority.

 

(c)        Other
Taxes. In addition, the Credit Parties shall pay all Other Taxes to the relevant Governmental Authorities in accordance with
applicable Law. The Credit Parties shall deliver to Administrative Agent official receipts or other evidence of such payment reasonably
satisfactory to Administrative Agent in respect of any Other Taxes payable hereunder promptly after payment of such Other Taxes.

 

(d)        Indemnification.
The Credit Parties shall, jointly and severally, indemnify the Administrative Agent and each Lender, within twenty (20) days after
written demand therefor, for the full amount of any Indemnified Taxes and Other Taxes paid or incurred by the Administrative Agent
or such Lender or their respective Tax Related Persons, as the case may be, relating to, arising out of, or in connection with,
any Credit Document or any payment or transaction contemplated hereby or thereby, whether or not such taxes were correctly or legally
imposed or asserted by the relevant Governmental Authority and all reasonable costs and expenses incurred in enforcing the provisions
of this Section 2.16; provided, however, that the Credit Parties shall not be required to indemnify the Administrative
Agent, Lenders and their respective Tax Related Persons (i) in duplication of Taxes covered by Section 2.16(b), (ii) for any penalty
imposed as a result of any gross negligence or unlawful misconduct of the Administrative Agent, Lender or Tax Related Person, as
the case maybe or (iii) for Taxes on consolidated net income, other than in the case of (A) any matters addressed in Section 2.16(c)
and any indemnification therefor and (B) any payments of expenses and costs made pursuant to this Section 2.16(d), in which instances
such indemnification shall be made on an after-Tax basis, such that after all required deductions and payments of all Indemnified
Taxes or Other Taxes (including Taxes on consolidated net income applicable to amounts covered by this Section 2.16(d)(iii)(A)
or (B)), the Administrative Agent, the Lenders and each of their respective Tax Related Persons receives and retains an amount
equal to the sum it would have received and retained, had it not paid or incurred or been subject to such Indemnified Taxes and
Other Taxes or expenses and costs. A certificate as to the amount of such Taxes (along with a copy of the applicable documents
from the Internal Revenue Service or other Governmental Authority asserting such claim to Indemnified Taxes, if any; provided
that copies of any such document may be redacted to the extent such document contains unrelated information) delivered to Borrower
by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender,
shall be conclusive absent manifest error. If a Credit Party reasonably believes that such Indemnified Taxes or Other Taxes were
not correctly or legally asserted, the Administrative Agent, such Lender or their respective Tax Related Persons, as the case may
be, will use reasonable efforts to cooperate with Borrower (at Borrower’s expense) to obtain a refund of such Indemnified
Taxes, the benefit of which refund shall be returned to Borrower to the extent provided in Section 2.16(f), provided that,
in the sole good faith determination of the Administrative Agent or Lender or their respective Tax Related Persons, pursuing such
refund would not be materially prejudicial to the Administrative Agent, Lender or their respective Tax Related Persons.

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(e)        Evidence
of Exemption from U.S. Withholding Tax. Any Lender that is entitled to an exemption from or reduction of withholding Tax or
backup withholding Tax under the Law of the jurisdiction in which Borrower is located, or any treaty to which such jurisdiction
is a party, with respect to payments under this Agreement shall deliver to Borrower (and the Administrative Agent at any time or
times reasonably requested by Borrower or the Administrative Agent, such properly completed and executed documentation prescribed
by applicable Law, as may reasonably be requested by Borrower or the Administrative Agent to permit such payments to be made without
such withholding Tax or at a reduced rate. Each such Lender shall, whenever a lapse in time or change in circumstances renders
such documentation obsolete, expired or inaccurate in any material respect, deliver promptly to Borrower and the Administrative
Agent updated or other appropriate documentation (including any new documentation reasonably requested by the applicable withholding
agent) or promptly notify Borrower and the Administrative Agent of its inability to do so.

 

Without limiting the foregoing, each Lender
that is not a United States Person (as such term is defined in Section 7701(a)(30) of the Internal Revenue Code) for U.S. federal
income tax purposes (a “Non-U.S. Lender”) shall deliver to Administrative Agent (for the Administrative Agent
itself and for transmission to Borrower), on or prior to the Closing Date (in the case of each Lender listed on the signature pages
hereof) or on or prior to the date of the Assignment Agreement pursuant to which it becomes a Lender (in the case of each other
Lender), and at such other times, as may be reasonably requested in writing by Borrower or Administrative Agent (each, in the reasonable
exercise of its discretion), (i) two copies of Internal Revenue Service Form W-8BENE (or W-8BEN, as applicable) or Internal Revenue
Service Form W-8ECI (or any successor forms), properly completed and duly executed by such Lender, and such other documentation
required under the Internal Revenue Code and reasonably requested by the Administrative Agent or Borrower to establish that such
Lender is not subject to deduction or withholding of United States federal income tax with respect to any payments to such Lender
of principal, interest, fees or other amounts payable under any of the Credit Documents or is subject to deduction or withholding
at a reduced rate, pursuant to an applicable income tax treaty or because the item of income is effectively connected with the
conduct of a U.S. trade or business, (ii) if such Lender is not a “bank” or other Person described in Section 881(c)(3)
of the Internal Revenue Code, including a 10% shareholder of Borrower (within the meaning of Section 871(h)(3)(B) of the Internal
Revenue Code) or a “controlled foreign corporation” related to Borrower (within the meaning of Section 881(c)(3)(C)
of the Internal Revenue Code) and cannot deliver Internal Revenue Service Form W-8ECI pursuant to clause (i) above, two copies
of a Certificate Regarding Non-Bank Status, together with two copies of Internal Revenue Service Form W-8BENE (or W-8BEN, as applicable)
(or any successor form), properly completed and duly executed by such Lender, and such other documentation required under the Internal
Revenue Code and reasonably requested by the Administrative Agent or Borrower to establish that such Lender is not subject to deduction
or withholding of United States federal income tax with respect to any payments to such Lender of interest payable under any of
the Credit Documents pursuant to the portfolio interest exemption or (iii) two copies of any other documentation, properly completed
and duly executed by such Lender, to establish such Lender’s entitlement to an exemption from or reduction in withholding
of U.S. federal income tax. Each Lender that is a United States person (as such term is defined in Section 7701(a)(30) of the Internal
Revenue Code) for United States federal income tax purposes (a “U.S. Lender”) and is not an exempt recipient
within the meaning of Treasury Regulation Section 1.6049-4(c) shall deliver to the Administrative Agent (for the Administrative
Agent itself and for transmission to Borrower) on or prior to the Closing Date (or, if later, on or prior to the date on which
such Lender becomes a party to this Agreement) two copies of the Internal Revenue Service Form W-9 (or any successor form), properly
completed and duly executed by such Lender, confirming that such U.S. Lender is entitled to an exemption from United States backup
withholding tax. Each Lender required to deliver any forms, certificates or other evidence with respect to United States federal
income tax withholding matters pursuant to this Section 2.16(e) hereby agrees, from time to time after the initial delivery by
such Lender of such forms, certificates or other evidence, whenever a lapse in time or change

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in circumstances renders such forms, certificates
or other evidence expired, obsolete or inaccurate in any material respect, that such Lender shall promptly deliver to Administrative
Agent (for the Administrative Agent itself and for transmission to Borrower) two new copies of Internal Revenue Service Form W-8BENE
(or W-8BEN, as applicable), Internal Revenue Service Form W-8ECI, a Certificate Regarding Non-Bank Status and Internal Revenue
Service Form W-8BENE (or W-8BEN, as applicable), Internal Revenue Service Form W-9 or other applicable documentation (or any successor
forms to any of the foregoing), as the case may be, properly completed and duly executed by such Lender, and two new copies of
other documentation, required under the Internal Revenue Code and reasonably requested by Administrative Agent or Borrower, properly
completed and duly executed by such Lender, to confirm or establish that such Lender is not subject to deduction or withholding
of United States federal income tax with respect to payments to such Lender under the Credit Documents or is subject to deduction
or withholding at a reduced rate, or notify Administrative Agent and Borrower of its inability to deliver any such forms, certificates
or other evidence.

 

Each Non-U.S. Lender, to the extent it does
not act or ceases to act for its own account with respect to any portion of any sums paid or payable to such Non-U.S. Lender under
any of the Credit Documents (for example, in the case of a typical participation by such Non-U.S. Lender, or where Non-U.S. Lender
is a partnership for U.S. federal income tax purposes), shall deliver to the Administrative Agent (for the Administrative Agent
itself and for transmission to Borrower) on or prior to the Closing Date or on or prior to the date when such Non-U.S. Lender ceases
to act for its own account with respect to any portion of any such sums paid or payable, and at such other times, as may be necessary
in the determination of the Administrative Agent or Borrower (in either case, in the reasonable exercise of its discretion), (A)
two copies of the forms or statements required to be provided by such Non-U.S. Lender, as set forth in the preceding paragraph,
properly completed and duly executed by such Lender, to establish the portion of any such sums paid or payable with respect to
which such Non-U.S. Lender acts for its own account that is not subject to U.S. federal income tax, and (B) two copies of Internal
Revenue Service Form W-8IMY (or any successor forms), properly completed and duly executed by such Lender, together with any information
such Non-U.S. Lender is required to transmit with such form, and any other certificate or statement of exemption required under
the Internal Revenue Code, properly completed and duly executed by such Lender, to establish that such Non-U.S. Lender is not acting
for its own account with respect to a portion of any such sums payable to such Non-U.S. Lender, and two copies of an applicable
Certificate Regarding Non-Bank Status, properly completed and duly executed by the applicable participant or partner, provided,
that if the Lender is a partnership and one or more of its partners are claiming the exemption for portfolio interest under Section
881(c) of the Internal Revenue Code, such Lender may provide a Certificate Regarding Non-Bank Status on behalf of such partners.
Any Non-U.S. Lender providing the Internal Revenue Service Form W-8IMY is hereby required to update such form (or notify the Administrative
Agent and Borrower of its inability to do so) at the same times that a Non-U.S. Lender is required to update applicable forms,
certificates and documentations pursuant to the preceding paragraph.

 

If a payment made to a Lender under any Credit
Document would be subject to U.S. federal withholding Tax imposed by FATCA (as defined in clause (d) of “Excluded Taxes”)
if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section
1471(b) or 1472(b) of the Internal Revenue Code, as applicable), such Lender shall deliver to the Borrower and the Administrative
Agent at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative
Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Internal Revenue
Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for
the Borrower and the Administrative Agent to comply with their obligations under FATCA and to determine whether such Lender has
complied with such Lender’s obligations under FATCA or to determine the amount, if any, to deduct and withhold from such
payment.

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Solely for purposes of this clause (D), “FATCA”
shall include any amendments made to FATCA after the date of this Agreement.

 

From and after the Closing Date, solely for
purposes of FATCA, the Borrower and the Administrative Agent shall treat, and the Lenders hereby authorize the Borrower and the
Administrative Agent to treat, the Credit Agreement and all Loans made thereunder (including any Loans already outstanding) as
not qualifying as “grandfathered obligations” within the meaning of Treasury Regulation section 1.1471-2(b)(2)(i).

 

Nothing in this Section 2.16 shall be construed
to require a Lender, the Administrative Agent or their respective Tax Related Persons to provide any forms or documentation that
it is not legally entitled to provide.

 

(f)         Treatment
of Certain Refunds. If the Administrative Agent, a Lender or its respective Tax Related Persons has received a refund of any
Taxes as to which it has been indemnified by Borrower or with respect to which Borrower has paid additional amounts pursuant to
this Section 2.16, it shall pay to Borrower an amount equal to such refund (but only to the extent of indemnity payments made,
or additional amounts paid, by Borrower under this Section 2.16 with respect to the Taxes giving rise to such refund), net of all
out-of-pocket expenses of the Administrative Agent, such Lender or its respective Tax Related Persons (including any Taxes imposed
with respect to such refund), as is determined by the Administrative Agent, Lender or its respective Tax Related Persons in reasonable
discretion, and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund
or credit); provided that Borrower, upon the written request of the Administrative Agent, such Lender or its respective
Tax Related Persons, agrees to repay the amount paid over to Borrower (plus any penalties, interest or other charges imposed by
the relevant Governmental Authority) to the Administrative Agent, such Lender or its respective Tax Related Persons, in the event
the Administrative Agent, such Lender or its respective Tax Related Persons is required to repay such refund to such Governmental
Authority. This paragraph shall not be construed to require the Administrative Agent, any Lender or its respective Tax Related
Persons to make available its tax returns (or any other information relating to its taxes which it deems confidential) to Borrower
or any other Person. Notwithstanding anything to the contrary in this paragraph (f), in no event will the Administrative Agent
or any Lender be required to pay any amount to the Borrower pursuant to this paragraph (f) the payment of which would place the
Administrative Agent or such Lender in a less favorable net after-Tax position than the Administrative Agent or such Lender would
have been in if the indemnification payments or additional amounts giving rise to such refund had never been paid.

 

(g)        L/C
Issuer. For purposes of this Section 2.16, the term “Lender” shall include the L/C Issuer.

 

	 	2.17	Obligation to Mitigate.

 

Each Lender agrees that, as promptly as practicable
after the officer of such Lender responsible for administering its Loans becomes aware of the occurrence of an event or the existence
of a condition that would cause such Lender to become an Affected Lender or that would entitle such Lender to receive payments
under Section 2.14, 2.15 or 2.16, it will, to the extent not inconsistent with the internal policies of such Lender and any applicable
legal or regulatory restrictions, use reasonable efforts to (a) make, issue, fund or maintain its Credit Extensions, including
any Affected Loans, through another office of such Lender, or (b) take such other measures as such Lender may deem reasonable,
if, as a result thereof, the circumstances which would cause such Lender to be an Affected Lender would cease to exist or the additional
amounts which would otherwise be required to be paid to such Lender pursuant to Section 2.14, 2.15 or 2.16 would be materially
reduced and if, as determined by such Lender in good

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faith, the making, issuing, funding or maintaining
of such Commitments or Loans through such other office or in accordance with such other measures, as the case may be, would not
otherwise adversely affect such Commitments or Loans or the interests of such Lender; provided that such Lender will not
be obligated to utilize such other office pursuant to this Section 2.17 unless Borrower agrees to pay all reasonable costs and
expenses incurred by such Lender as a result of utilizing such other office as described above. A certificate as to the amount
of any such expenses payable by Borrower pursuant to this Section 2.17 (setting forth in reasonable detail the basis for requesting
such amount) submitted by such Lender to Borrower (with a copy to Administrative Agent) shall be conclusive absent manifest error.

 

	 	2.18	Defaulting Lenders.

 

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

 

(i)       Waivers
and Amendments. That Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect
to this Agreement shall be restricted as set forth in Section 10.5 and the definition of “Requisite Lenders”.

 

(ii)       Reallocation
of Payments. Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account
of that Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Section 8 or otherwise) or received by the
Administrative Agent from a Defaulting Lender pursuant to Section 10.4, shall be applied at such time or times, as may be determined
by the Administrative Agent as follows: first, to the payment of any amounts (including fees and expenses) owing by such
Defaulting Lender to the Administrative Agent hereunder; second, to the payment of any amounts (including fees and expenses)
owing by such Defaulting Lender to the L/C Issuer hereunder; third, to Cash Collateralize the L/C Issuer’s Fronting
Exposure with respect to such Defaulting Lender; fourth, as Borrower may request (so long as no Default or Event of Default
exists), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof, as required
by this Agreement, as determined by the Administrative Agent; fifth, if so determined by the Administrative Agent and Borrower,
to be held in a deposit account and released pro rata in order to (x) satisfy such Defaulting Lender’s potential future funding
obligations with respect to Loans under this Agreement and (y) Cash Collateralize the L/C Issuer’s future Fronting Exposure
with respect to such Defaulting Lender with respect to future Letters of Credit issued under this Agreement; sixth, to the
payment of any amounts owing to the Lenders or the L/C Issuer or, so long as no Default or Event of Default exists, Borrower as
a result of any judgment of a court of competent jurisdiction obtained by any Lender, the L/C Issuer or Borrower against such Defaulting
Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and seventh, to such
Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a
payment of the principal amount of any Loans or L/C Borrowings in respect of which such Defaulting Lender has not fully funded
its appropriate share and (y) such Loans were made or the related Letters of Credit were issued at a time when the conditions set
forth in Section 3.2 were satisfied or waived, such payment shall be applied solely to pay the Loans of, and L/C Obligations owed
to, all non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C Obligations owed
to, such Defaulting Lender until such time as all Loans and funded and unfunded participations in L/C Obligations are held by the
Lenders pro rata in accordance with the Commitments hereunder without giving effect to Section 2.18(a)(iv). Any payments, prepayments
or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting

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Lender or to post Cash Collateral
pursuant to this Section 2.18(a)(ii) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably
consents hereto.

 

(iii)       Certain
Fees. That Defaulting Lender (x) shall not be entitled to receive any Commitment Fee pursuant to Section 2.8(a)(i) for any
period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise
would have been required to have been paid to that Defaulting Lender) and (y) shall be limited in its right to receive L/C Participation
Fees as provided in Section 2.8(a)(iii).

 

(iv)       Reallocation
of Applicable Percentages to Reduce Fronting Exposure. All or any part of such Defaulting Lender’s participation in L/C
Obligations in respect of the Tranche 2 Facilities shall be reallocated among the non-Defaulting Lenders in accordance with their
respective Applicable Percentages under the Tranche 2 Facilities (calculated without regard to such Defaulting Lender’s Commitment),
but only to the extent that (x) at the date that the applicable Tranche 2 Lender becomes a Defaulting Lender, no Default or Event
of Default exists, and (y) such reallocation does not cause the aggregate principal amount of the Tranche 2 Loans and the participation
in L/C Obligations of any non-Defaulting Lender to exceed such non-Defaulting Lender’s Tranche 2 Commitment. Subject to Section
10.24, no reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting
Lender arising from that Lender having become a Defaulting Lender, including any claim of a non-Defaulting Lender as a result of
such non-Defaulting Lender’s increased exposure following such reallocation.

 

(b)        Defaulting
Lender Cure. If Borrower, the Administrative Agent and the L/C Issuer agree in writing that a Lender is no longer a Defaulting
Lender, the Administrative Agent will so notify the parties hereto, whereupon, as of the effective date specified in such notice
and subject to any conditions set forth therein (which may include arrangements with respect to any Cash Collateral), that Lender
will, to the extent applicable, purchase that portion of outstanding Loans of the other Lenders or take such other actions, as
the Administrative Agent may determine to be necessary to cause the Commitments and funded and unfunded participations in Letters
of Credit to be held on a pro rata basis by the Lenders in accordance with their Applicable Percentages under the applicable Tranches
(without giving effect to Section 2.18(a)(iv)), whereupon such Lender will cease to be a Defaulting Lender; provided that
no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of Borrower, while that
Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties,
no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising
from that Lender’s having been a Defaulting Lender.

 

(c)        Cash
Collateral. At any time that there shall exist a Defaulting Lender, immediately upon the request of the Administrative Agent
or the L/C Issuer, to the extent the L/C Issuer is at such time holding L/C Obligations, Borrower shall, at its election, either
(1) prepay Loans in an amount sufficient to permit the Fronting Exposure with respect to such Defaulting Lender to be reallocated
in full to the other Lenders in accordance with Section 2.18(a)(iv) above or (2) Cash Collateralize all such Fronting Exposure
(after giving effect to Section 2.18(a)(iv) and any Cash Collateral provided by the Defaulting Lender).

 

	 	2.19	Removal or Replacement of a Lender.

 

Anything contained herein to the contrary
notwithstanding, in the event that: (a) (i) any Lender (an “Increased Cost Lender”) shall give notice to Borrower
that such Lender is an Affected Lender or that such Lender is entitled to receive payments under Section 2.14, 2.15 or 2.16, (ii)
the

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circumstances which have caused such Lender
to be an Affected Lender or which entitle such Lender to receive such payments shall remain in effect, and (iii) such Lender shall
fail to withdraw such notice within five Business Days after Borrower’s request for such withdrawal; or (b) any Lender shall
be a Defaulting Lender; or (c) in connection with any proposed amendment, modification, termination, waiver or consent with respect
to any of the provisions hereof, as contemplated by Section 10.5(b), the consent of Requisite Lenders shall have been obtained,
but the consent of one or more of such other Lenders (each, a “Non-Consenting Lender”) whose consent is required
shall not have been obtained (and, if such proposed amendment, modification, termination, waiver or consent would have a disproportionate
effect on any Tranche, the consent of the Requisite Tranche Lenders with respect to such Tranche shall have been obtained); then,
with respect to each such Increased Cost Lender, Defaulting Lender or Non-Consenting Lender (the “Terminated Lender”),
Borrower may, by giving written notice to Administrative Agent and any Terminated Lender of its election to do so, elect to cause
such Terminated Lender (and such Terminated Lender hereby irrevocably agrees) to assign its outstanding Loans and Commitments in
full to one or more Eligible Assignees (each, a “Replacement Lender”) in accordance with the provisions of Section
10.6 and the Terminated Lender shall pay any fees payable thereunder in connection with such assignment; provided that in
connection with any such replacement, if any such Terminated Lender does not execute and deliver to the Administrative Agent a
duly executed Assignment Agreement reflecting such replacement, then such Terminated Lender shall be deemed to have executed and
delivered such Assignment Agreement without any action on the part of such Terminated Lender; provided, further,
that (1) on the date of such assignment, the Replacement Lender shall pay to Terminated Lender an amount equal to the principal
of all outstanding Loans of the Terminated Lender; (2) on the date of such assignment, Borrower shall pay any amounts payable to
such Terminated Lender pursuant to Section 2.14(d), 2.15 or 2.16 through such date; and (3) in the event such Terminated Lender
is a Non-Consenting Lender, each Replacement Lender shall consent, at the time of such assignment, to each matter in respect of
which such Terminated Lender was a Non-Consenting Lender. In accordance with the Assignment Agreement, interest and fees pursuant
to Section 2.8 that accrued prior to the effective date of the assignment shall be for the account of the Terminated Lender, and
such amounts that accrue on and after the effective date of the assignment shall be for the account of the Replacement Lender.
Upon the prepayment of all amounts owing to any Terminated Lender and the termination of such Terminated Lender’s Commitments
such Terminated Lender shall no longer constitute a “Lender” for purposes hereof; provided that any rights of
such Terminated Lender to indemnification hereunder shall survive as to such Terminated Lender. Each Replacement Lender shall cure
any existing Funding Default of the applicable Defaulting Lender.

 

	 	2.20	Letters of Credit.

 

(a)        The
Letter of Credit Commitment.

 

(i)       Subject
to the terms and conditions set forth herein, (A) the L/C Issuer agrees, in reliance upon the agreements of the Tranche 2 Lenders
set forth in this Section 2.20, (1) from time to time on any Business Day during the period from the Closing Date until the Letter
of Credit Expiration Date, to issue Letters of Credit denominated in Dollars or in one or more Alternative Currencies for the account
of (x) Borrower or any Subsidiary or (y) in the case of commercial Letters of Credit only, any customer of Borrower or any Subsidiary,
and to amend or extend Letters of Credit previously issued by it, in accordance with subsection (b) below, and (2) to honor drawings
under the Letters of Credit; and (B) the Tranche 2 Lenders severally agree to participate in Letters of Credit issued for the account
of Borrower or any Subsidiary and any drawings thereunder; provided that after giving effect to any Credit Extension with
respect to any Letter of Credit, (I) the Tranche 2 Outstandings shall not exceed the aggregate amount of Tranche 2 Commitments
that would be in effect at any time prior to the expiration of all Letters of Credit outstanding at such time (solely after giving
effect to the scheduled maturity of any Commitment occurring prior to the expiration of all such Letters of Credit), and (II) the
aggregate Dollar Equivalent of

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all L/C Obligations shall not exceed the L/C
Sublimit. Each request by Borrower or an L/C Subsidiary for the issuance or amendment of a Letter of Credit shall be deemed to
be a representation by Borrower that the Credit Extension so requested complies with the conditions set forth in the proviso to
the preceding sentence. Within the foregoing limits, and subject to the terms and conditions hereof, Borrower’s ability to
obtain Letters of Credit shall be fully revolving, and accordingly Borrower may, during the foregoing period, obtain Letters of
Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed. Borrower represents that it
or its applicable Subsidiary has complied with all applicable requirements of Law (including “know your customer” requirements)
with respect to all customers of Borrower or any Subsidiary for whose account a Letter of Credit is issued hereunder.

 

(ii)       The
L/C Issuer shall not issue any Letter of Credit, if:

 

(A)        subject
to Section 2.20(b)(iii), the expiry date of such requested Letter of Credit (other than a Letter of Indemnity) would occur more
than twelve months after the date of issuance or last extension;

 

(B)        the
expiry date of such requested Letter of Credit (other than a Letter of Indemnity) would occur after the Letter of Credit Expiration
Date;

 

(C)        any
Bankers’ Acceptance created or to be created thereunder would not be an eligible bankers’ acceptance under Section
13 of the Federal Reserve Act (12 U.S.C. § 372); or

 

(D)        such
Letter of Credit is a “direct-pay” Letter of Credit.

 

(iii)       The
L/C Issuer shall not be under any obligation to issue any Letter of Credit if:

 

(A)        any
order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain the L/C
Issuer from issuing such Letter of Credit, or any Law applicable to the L/C Issuer or any request or directive (whether or not
having the force of law) from any Governmental Authority with jurisdiction over the L/C Issuer shall prohibit, or request that
the L/C Issuer refrain from, the issuance of letters of credit or bankers’ acceptances generally or such Letter of Credit
in particular or shall impose upon the L/C Issuer with respect to such Letter of Credit any restriction, reserve or capital requirement
(for which the L/C Issuer is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon the L/C
Issuer any unreimbursed loss, cost or expense (for which the L/C Issuer is not otherwise compensated hereunder) which was not applicable
on the Closing Date and which the L/C Issuer in good faith deems material to it;

 

(B)        the
maturity date of any Bankers’ Acceptance would occur (1) earlier than 30 or later than 120 days from the date of issuance
or (2) later than 60 days before the Letter of Credit Expiration Date, unless the Requisite Tranche 2 Lenders have approved such
maturity date;

 

(C)        the
issuance of such Letter of Credit would violate one or more policies of the L/C Issuer applicable to letters of credit or bankers’
acceptances generally;

 

(D)        except
as otherwise agreed by the Administrative Agent and the L/C Issuer, such Letter of Credit is in an initial stated amount less than
$10,000;

 

(E)        except
as otherwise agreed by the Administrative Agent and the L/C Issuer, such Letter of Credit is to be denominated in a currency other
than Dollars or an Alternative Currency;

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(F)        except
as described in Section 2.20(b)(iii), such Letter of Credit contains any provisions for automatic reinstatement of the stated amount
after any drawing thereunder;

 

(G)        any
Tranche 2 Lender is at that time a Defaulting Lender, unless the L/C Issuer has entered into arrangements for Cash Collateralization
with Borrower or such Tranche 2 Lender to eliminate the L/C Issuer’s actual or potential Fronting Exposure (after giving
effect to Section 2.18) with respect to the Defaulting Lender arising from either the Letter of Credit then proposed to be issued
or that Letter of Credit and all other L/C Obligations as to which the L/C Issuer has actual or potential Fronting Exposure;

 

(H)        the
L/C Issuer does not as of the issuance date of such requested Letter of Credit issue Letters of Credit in the requested currency
(if not Dollars);

 

(I)         except
as otherwise agreed by the L/C Issuer (acting reasonably, in consultation with the Borrower), in the case of any Letter of Indemnity,
the expiry date of such requested Letter of Indemnity would occur (x) more than twelve months after the date of issuance or last
extension or (y) after the Letter of Credit Expiration Date; or

 

(J)         the
aggregate Dollar Equivalent of all L/C Obligations issued and outstanding by such L/C Issuer would exceed its L/C Issuer Sublimit.

 

(iv)       The
L/C Issuer shall not amend any Letter of Credit, if the L/C Issuer would not be permitted at such time to issue such Letter of
Credit in its amended form under the terms hereof.

 

(v)        The
L/C Issuer shall not be under any obligation to amend any Letter of Credit, if (A) the L/C Issuer would have no obligation at such
time to issue such Letter of Credit in its amended form under the terms hereof, or (B) the beneficiary of such Letter of Credit
does not accept the proposed amendment to such Letter of Credit.

 

(vi)       The
L/C Issuer shall act on behalf of the Tranche 2 Lenders with respect to any Letters of Credit issued by it and the documents associated
therewith, and the L/C Issuer shall have all of the benefits and immunities (A) provided to the Administrative Agent in Section
9.3 (other than Section 9.3(h)) with respect to any acts taken or omissions suffered by the L/C Issuer in connection with Letters
of Credit issued by it or proposed to be issued by it and in connection with Issuer Documents pertaining to such Letters of Credit,
as fully as if the term “Administrative Agent” as used in Section 9.3 (other than Section 9.3(h)) included the L/C
Issuer with respect to such acts or omissions, and (B) as additionally provided herein with respect to the L/C Issuer; provided,
however, that nothing in this Section 2.20(a)(vi) shall limit the liability of the L/C Issuer to the Borrower under Section
2.20(f) of this Agreement.

 

(b)        Procedures
for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of Credit.

 

 (i)         Each
Letter of Credit shall be issued or amended, as the case may be, upon the request of Borrower or an L/C Subsidiary delivered to
the L/C Issuer (with a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed
and signed by an Authorized Officer of Borrower, as the case may be. Such Letter of Credit Application must be received by the
L/C Issuer and the Administrative Agent not later than 11:00 a.m. at least two Business Days (or such later date and time, as the
Administrative Agent and the L/C Issuer may agree in a particular instance, in their sole discretion) prior to the proposed issuance
date or date of amendment, as the case may be. In the case of a request for an initial issuance of a Letter of Credit, such Letter
of Credit Application shall specify in form and detail reasonably satisfactory to the L/C Issuer: (A) the proposed

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issuance date of the requested Letter of Credit
(which shall be a Business Day); (B) the amount and currency thereof; (C) the expiry date thereof; (D) if applicable, the name
and address of the customer of Borrower or the applicable L/C Subsidiary for whose account the Letter of Credit is to be issued;
(E) the name and address of the beneficiary thereof; (F) the documents to be presented by such beneficiary in case of any drawing
thereunder; (G) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; (H) the
purpose and nature of the requested Letter of Credit; and (I) such other matters, as the L/C Issuer may reasonably require. In
the case of a request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify, in
form and detail reasonably satisfactory to the L/C Issuer: (A) the Letter of Credit to be amended; (B) the proposed date of amendment
thereof (which shall be a Business Day); (C) the nature of the proposed amendment; and (D) such other matters, as the L/C Issuer
may reasonably require. Additionally, the Borrower or the applicable L/C Subsidiary shall furnish to the L/C Issuer and the Administrative
Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment, including any Issuer
Documents, as the L/C Issuer or the Administrative Agent may reasonably require. In the event of any inconsistency between the
terms and conditions of this Agreement and the terms and conditions of any form of Letter of Credit Application or other agreement
submitted by the Borrower or applicable L/C Subsidiary to, or entered into by the Borrower with, the L/C Issuer relating to any
Letter of Credit, the terms and conditions of this Agreement shall control.

 

(ii)        Promptly
after receipt of any Letter of Credit Application, the L/C Issuer will confirm with the Administrative Agent (by telephone or in
writing) that the Administrative Agent has received a copy of such Letter of Credit Application and, if not, the L/C Issuer will
provide the Administrative Agent with a copy thereof. Unless the L/C Issuer has received written notice from any Tranche 2 Lender,
the Administrative Agent or any Credit Party, at least one Business Day prior to the requested date of issuance or amendment of
the applicable Letter of Credit, that one or more applicable conditions contained in Section 2.20(a)(i) or 3.2 shall not then be
satisfied, then, subject to the terms and conditions hereof, the L/C Issuer shall, on the requested date, issue a Letter of Credit
for the account of Borrower (or the applicable Subsidiary) or enter into the applicable amendment, as the case may be, in each
case, in accordance with the L/C Issuer’s usual and customary business practices. Immediately upon the issuance of each Letter
of Credit, each Tranche 2 Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the L/C
Issuer a risk participation in such Letter of Credit in an amount equal to the product of such Tranche 2 Lender’s Applicable
Percentage times the amount of such Letter of Credit under the applicable Tranche.

 

(iii)       If
Borrower or the applicable L/C Subsidiary so requests in any applicable Letter of Credit Application, the L/C Issuer may, in its
sole and absolute discretion, agree to issue a Letter of Credit that has automatic extension provisions (each, an “Auto-Extension
Letter of Credit”); provided that any such Auto-Extension Letter of Credit must permit the L/C Issuer to prevent
any such extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by
giving 30 days’ (or such other number of days, as the L/C Issuer may agree) prior notice to the beneficiary thereof not later
than a day (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at the time
such Letter of Credit is issued. Unless otherwise directed by the L/C Issuer, Borrower or the applicable L/C Subsidiary shall not
be required to make a specific request to the L/C Issuer for any such extension. Once an Auto-Extension Letter of Credit has been
issued, the Tranche 2 Lenders shall be deemed to have authorized (but may not require) the L/C Issuer to permit the extension of
such Letter of Credit at any time to an expiry date not later than the Letter of Credit Expiration Date; provided that the
L/C Issuer shall not permit any such extension if (A) the L/C Issuer has determined that it would not be permitted at such time
to issue such Letter of Credit in its revised form (as extended) under the terms hereof (by reason of the provisions of clause
(ii) or (iii) of Section 2.20(a) or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before
the day that is five Business Days before the Non-Extension Notice Date (1) from the Administrative Agent that the

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Requisite Tranche 2 Lenders have elected not
to permit such extension or (2) from the Administrative Agent, any Tranche 2 Lender or Borrower that one or more of the applicable
conditions specified in Section 2.20(a)(i) or 3.2 is not then satisfied, and, in each such case, directing the L/C Issuer not to
permit such extension.

 

(iv)       Promptly
after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with respect thereto or to
the beneficiary thereof, the L/C Issuer will also deliver to Borrower or the applicable L/C Subsidiary and the Administrative Agent
a true and complete copy of such Letter of Credit or amendment.

 

(c)        Drawings
and Reimbursements; Funding of Participations.

 

 (i)        Upon
receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the L/C Issuer shall
notify Borrower and the Administrative Agent thereof. In the case of a Letter of Credit denominated in an Alternative Currency,
Borrower shall reimburse the L/C Issuer in such Alternative Currency, unless (A) the L/C Issuer (at its option) shall have specified
in such notice that it will require reimbursement in Dollars, or (B) in the absence of any such requirement for reimbursement in
Dollars, Borrower shall have notified the L/C Issuer promptly following receipt of the notice of drawing that Borrower will reimburse
the L/C Issuer in Dollars. In the case of any such reimbursement in Dollars of a drawing under a Letter of Credit denominated in
an Alternative Currency, the L/C Issuer shall notify Borrower of the Dollar Equivalent of the amount of the drawing promptly following
the determination thereof. Not later than 11:00 a.m. on the second Business Day following the date of any payment (or, in the case
of any commercial Letter of Credit, not later than the date of payment, subject to timely notice by the L/C Issuer) by the L/C
Issuer under a Letter of Credit to be reimbursed in Dollars, or the Applicable Time on the date of any payment by the L/C Issuer
under a Letter of Credit to be reimbursed in an Alternative Currency (each such date, an “Honor Date”), Borrower
shall reimburse the L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing and in the applicable
currency. If Borrower fails to so reimburse the L/C Issuer by such time, the Administrative Agent shall promptly notify each Tranche
2 Lender of the Honor Date, the amount of the unreimbursed drawing (expressed in Dollars in the amount of the Dollar Equivalent
thereof, in the case of a Letter of Credit denominated in an Alternative Currency) (the “Unreimbursed Amount”),
and the amount of such Tranche 2 Lender’s Applicable Percentage thereof under the applicable Tranches. In such event, Borrower
shall be deemed to have requested a Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed
Amount, without regard to the minimum and multiples specified in Section 2.1 for the principal amount of Base Rate Loans, but subject
to the amount of the unutilized portion of the Commitments and the conditions set forth in Section 3.2 (other than the delivery
of a Funding Notice). Any notice given by the L/C Issuer or the Administrative Agent pursuant to this Section 2.20(c)(i) may be
given by telephone, if immediately confirmed in writing; provided that the lack of such an immediate confirmation shall
not affect the conclusiveness or binding effect of such notice.

 

(ii)       Each
Tranche 2 Lender shall, upon any notice pursuant to Section 2.20(c)(i), make funds available to the Administrative Agent for the
account of the L/C Issuer, in Dollars, at the Administrative Agent’s Office for Dollar-denominated payments in an amount
equal to its Applicable Percentage of the Unreimbursed Amount under the applicable Tranches not later than 1:00 p.m. on the Business
Day specified in such notice by the Administrative Agent, whereupon, subject to the provisions of Section 2.20(c)(iii), each Tranche
2 Lender that so makes funds available shall be deemed to have made a Base Rate Loan to Borrower in such amount. The Administrative
Agent shall remit the funds so received to the L/C Issuer in Dollars.

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(iii)       With
respect to any Unreimbursed Amount that is not fully refinanced by a Borrowing of Base Rate Loans because the conditions set forth
in Section 3.2 cannot be satisfied or for any other reason, Borrower shall be deemed to have incurred from the L/C Issuer an L/C
Borrowing in the amount of the Unreimbursed Amount, which L/C Borrowing shall be due and payable on demand (together with interest)
and shall bear interest from and including to, but excluding, the second Business Day after the Honor Date at the Adjusted LIBOR
Rate, and for each day thereafter, at the Default Rate (or, in the case of any L/C Borrowing relating to a commercial Letter of
Credit, from and including the Honor Date at the Default Rate). In such event, each Tranche 2 Lender’s payment to the Administrative
Agent for the account of the L/C Issuer pursuant to Section 2.20(c)(ii) shall be deemed payment in respect of its participation
in such L/C Borrowing and shall constitute an L/C Advance from such Tranche 2 Lender in satisfaction of its participation obligation
under this Section 2.20.

 

(iv)       Until
each Tranche 2 Lender funds its L/C Advance pursuant to this Section 2.20(c) to reimburse the L/C Issuer for any amount drawn under
any Letter of Credit, interest in respect of such Tranche 2 Lender’s Applicable Percentage of such amount shall be solely
for the account of the L/C Issuer.

 

(v)        Each
Tranche 2 Lender’s obligation to make L/C Advances to reimburse the L/C Issuer for amounts drawn under Letters of Credit,
as contemplated by this Section 2.20(c), shall be absolute and unconditional and shall not be affected by any circumstance, including
(A) any setoff, counterclaim, recoupment, defense or other right which such Tranche 2 Lender may have against the L/C Issuer, Borrower,
any Subsidiary or any other Person for any reason whatsoever; (B) the occurrence or continuance of a Default; or (C) any other
occurrence, event or condition, whether or not similar to any of the foregoing. No such making of an L/C Advance shall relieve
or otherwise impair the obligation of Borrower to reimburse the L/C Issuer for the amount of any payment made by the L/C Issuer
under any Letter of Credit, together with interest as provided herein.

 

(vi)       If
any Tranche 2 Lender fails to make available to the Administrative Agent for the account of the L/C Issuer any amount required
to be paid by such Tranche 2 Lender pursuant to the foregoing provisions of this Section 2.20(c) by the time specified in Section
2.20(c)(ii), the L/C Issuer shall be entitled to recover from such Tranche 2 Lender (acting through the Administrative Agent),
on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment
is immediately available to L/C Issuer at a rate per annum equal to the applicable Overnight Rate from time to time in effect,
plus any administrative, processing or similar fees customarily charged by the L/C Issuer in connection with the foregoing.
If such Tranche 2 Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Tranche
2 Lender’s L/C Advance in respect of the relevant L/C Borrowing. A certificate of the L/C Issuer submitted to any Tranche
2 Lender (through the Administrative Agent) with respect to any amounts owing under this clause (vi) shall be conclusive absent
manifest error.

 

(d)        Repayment
of Participations.

 

 (i)        At
any time after the L/C Issuer has made a payment under any Letter of Credit and has received from any Tranche 2 Lender such Tranche
2 Lender’s L/C Advance in respect of such payment in accordance with Section 2.20(c), if the Administrative Agent receives
for the account of the L/C Issuer any payment in respect of the related Unreimbursed Amount or interest thereon (whether directly
from Borrower or otherwise), the Administrative Agent will distribute to such Tranche 2 Lender its Applicable Percentage thereof
in Dollars and in the same funds as those received by the Administrative Agent.

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(ii)       If
any payment received by the Administrative Agent for the account of the L/C Issuer pursuant to Section 2.20(c)(i) is required to
be returned under any of the circumstances described in Section 10.9 (including pursuant to any settlement entered into by the
L/C Issuer, in its discretion), each Tranche 2 Lender shall pay to the Administrative Agent for the account of the L/C Issuer its
Applicable Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand
to the date such amount is returned by such Tranche 2 Lender, at a rate per annum equal to the applicable Overnight Rate from time
to time in effect. The obligations of the Tranche 2 Lenders under this clause shall survive the payment in full of the Obligations
and the termination of this Agreement.

 

(e)        Obligations
Absolute. The obligation of Borrower to reimburse the L/C Issuer for each drawing under each Letter of Credit and to
repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid in accordance with the terms of this
Agreement under all circumstances, including the following:

 

(i)       any
lack of validity or enforceability of such Letter of Credit, this Agreement, or any other Credit Document;

 

(ii)       the
existence of any claim, counterclaim, setoff, defense or other right that Borrower or any Subsidiary may have at any time against
any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee
may be acting), the L/C Issuer or any other Person, whether in connection with this Agreement, the transactions contemplated hereby
or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction;

 

(iii)       any
draft, demand, certificate, endorsement or other document presented under, or in connection with, such Letter of Credit proving
to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect;
or any loss or delay in the transmission or otherwise of any document required in order to make a drawing under such Letter of
Credit;

 

(iv)       any
payment by the L/C Issuer under such Letter of Credit against presentation of a draft or certificate that does not strictly comply
with the terms of such Letter of Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person purporting
to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative
of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding
under any Debtor Relief Law;

 

(v)        any
adverse change in the relevant exchange rates or in the availability of the relevant Alternative Currency to Borrower or any Subsidiary
or in the relevant currency markets generally; or

 

(vi)       any
other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other circumstance that
might otherwise constitute a defense available to, or a discharge of, Borrower or any Subsidiary.

 

Borrower shall promptly examine a copy of
each Letter of Credit and each amendment thereto that is delivered to it and, in the event of any claim of noncompliance with Borrower’s
instructions or other irregularity, Borrower will promptly notify the L/C Issuer. Borrower shall be conclusively deemed to have
waived any such claim against the L/C Issuer and its correspondents, unless such notice is given as aforesaid.

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(f)        Role
of the L/C Issuer. Borrower and each Tranche 2 Lender agree that, in paying any drawing under a Letter of Credit, the
L/C Issuer shall not have any responsibility to obtain any document (other than any sight or time draft, certificates and documents
expressly required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the
authority of the Person executing or delivering any such document. None of the L/C Issuer, the Administrative Agent, any of their
respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer shall be liable to any Lender for (i)
any action taken or omitted in connection herewith at the request, or with the approval, of the Lenders or the Requisite Tranche
2 Lenders, as applicable; (ii) any action taken or omitted in the absence of gross negligence or willful misconduct; or (iii) the
due execution, effectiveness, validity or enforceability of any document or instrument related to any Letter of Credit or Issuer
Document. Borrower hereby assumes all risks of the acts or omissions of any beneficiary or transferee with respect to its use of
any Letter of Credit; provided that this assumption is not intended to, and shall not, preclude Borrower’s pursuing
such rights and remedies, as it may have against the beneficiary or transferee at law or under any other agreement. None of the
L/C Issuer, the Administrative Agent, any of their respective Related Parties nor any correspondent, participant or assignee of
the L/C Issuer shall be liable or responsible for any of the matters described in clauses (i) through (vi) of Section 2.20(e);
provided that anything in such clauses to the contrary notwithstanding, Borrower may have a claim against the L/C Issuer,
and the L/C Issuer may be liable to Borrower, to the extent, but only to the extent, of any direct, as opposed to consequential
or exemplary, damages suffered by Borrower which Borrower proves were caused by the L/C Issuer’s willful misconduct or gross
negligence or the L/C Issuer’s willful failure to pay under any Letter of Credit after the presentation to it by the beneficiary
of a sight or time draft and certificate(s) strictly complying with the terms and conditions of a Letter of Credit. In furtherance
and not in limitation of the foregoing, the L/C Issuer may accept documents that appear on their face to be in order, without responsibility
for further investigation, regardless of any notice or information to the contrary, and the L/C Issuer shall not be responsible
for the validity or sufficiency of any instrument endorsing, transferring or assigning, or purporting to endorse, transfer or assign,
a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid
or ineffective for any reason.

 

(g)        Applicability
of ISP and UCP. Unless otherwise expressly agreed by the L/C Issuer and Borrower when a Letter of Credit is issued,
(i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the UCP shall apply to each commercial
Letter of Credit.

 

(h)        Conflict
with Issuer Documents. In the event of any conflict between the terms hereof and the terms of any Issuer Documents,
the terms hereof shall control.

 

(i)         Letters
of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support
of any obligations of, or is for the account of, a Subsidiary (including an L/C Subsidiary) or a customer of Borrower or any Subsidiary,
Borrower shall be jointly and severally obligated to reimburse the L/C Issuer hereunder for any and all drawings under such Letter
of Credit; provided, if such Subsidiary is a Foreign Subsidiary, only Borrower shall be obligated to reimburse the L/C Issuer
hereunder. Borrower hereby acknowledges that the issuance of Letters of Credit for the account of such Subsidiaries, or a customer
of Borrower or any Subsidiary, inures to the benefit of Borrower, and that its business derives substantial benefits from the businesses
of such Subsidiaries.

 

(j)         Existing
Letters of Credit. All Existing Letters of Credit shall be deemed on the Closing Date to be issued hereunder and shall constitute
Letters of Credit subject to the terms hereof.

 

(k)        Bankers’
Acceptances. This Agreement contemplates the issuance of commercial Letters of Credit that are Acceptance Credits and the creation
of Bankers’ Acceptances in connection therewith. For purposes hereof, and as additional clarification, as the context requires,
(i)

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references to drawings under Letters of Credit
shall include the creation of, and payments under, Bankers’ Acceptances, (ii) references to notices of drawing under Letters
of Credit shall include presentations of Bankers’ Acceptances for payment, (iii) references to undrawn amounts under Letters
of Credit shall include amounts payable under (or that may become payable under) Bankers’ Acceptances, (iv) references to
the issuance of a Letter of Credit shall include the creation of a Bankers’ Acceptance under a commercial Letter of Credit
and (v) references to expiry dates of Letters of Credit shall include maturity dates of Bankers’ Acceptances.

 

(l)         Reallocation
of L/C Obligations. If the Final Maturity Date in respect of the Tranche 2N Commitments occurs while there are any Letters
of Credit outstanding, so long as no Event of Default has occurred and is continuing, then such Letters of Credit shall automatically
be deemed to have been issued (including for purposes of the obligations of the Tranche 2N Lenders to purchase participations therein)
solely under (and ratably participated in by Tranche 2E Lenders pursuant to) the Tranche 2E Facility up to an aggregate amount
not to exceed the aggregate amount of the unutilized Tranche 2E Commitments at such time (prior to such reallocation).

 

SECTION
3.

 

CONDITIONS PRECEDENT

 

	 	3.1	Conditions to Initial Extensions of Credit.

 

The effectiveness of this Agreement and the
obligation of the L/C Issuer and each Lender to make any Loan or an L/C Credit Extension hereunder is subject to the satisfaction,
or waiver in accordance with Section 10.5, of the following conditions on or before the Closing Date:

 

(a)        Credit
Documents. The Administrative Agent shall have received a copy of each of the following Credit Documents originally executed
and delivered by each applicable Credit Party for each Lender: (i) this Agreement and (ii) a Note executed by Borrower in favor
of each Lender requesting a Note, provided such request shall have been delivered to Borrower at least two Business Days
prior to the Closing Date.

 

(b)        Organizational
Documents; Incumbency. The Administrative Agent shall have received (i) a certificate of an Authorized Officer of each Credit
Party dated the Closing Date and certifying (I) to the effect that (A) attached thereto is a true and complete copy of the certificate
or articles of incorporation, organization or formation of such Credit Party certified as of a recent date by the Secretary of
State (or similar official) of the state of its incorporation, organization or formation, or in the alternative (other than in
the case of the Borrower), certifying that such certificate or articles of incorporation, organization or formation have not been
amended since the Prior Credit Agreement Date, and that the certificate or articles are in full force and effect, (B) attached
thereto is a true and complete copy of the by-laws or operating agreements or equivalent documents of each Credit Party as in effect
on the Closing Date, or in the alternative (other than in the case of the Borrower), certifying that such by-laws or operating
agreements or equivalent documents have not been amended since the Prior Credit Agreement Date, and that such by-laws or operating
agreements or equivalent documents are in full force and effect and (C) attached thereto is a true and complete copy of resolutions
duly adopted by the board of directors, board of managers or member, as the case may be, of each Credit Party authorizing the execution,
delivery and performance of the Credit Documents to which such Credit Party is a party, and that such resolutions have not been
modified, rescinded or amended, and that such resolutions are in full force and effect, and (II) as to the incumbency and specimen
signature of each officer executing any Credit Document on behalf of any Credit Party and signed by another officer as to the incumbency
and specimen signature of the Authorized Officer executing the certificate pursuant to this clause (b)(i); and

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(ii) a good standing certificate from the
applicable Governmental Authority of each Credit Party’s jurisdiction of incorporation, organization or formation, each dated
a recent date prior to the Closing Date.

 

(c)        Opinion
of Counsel. The Lenders, Arrangers, Syndication Agents, the Administrative Agent and their respective counsel shall have received
executed copies of the favorable written opinion of Sullivan & Cromwell LLP, counsel for Credit Parties, dated as of the Closing
Date and in form and substance reasonably satisfactory to the Administrative Agent (and each Credit Party hereby instructs Sullivan
& Cromwell LLP to deliver such opinion to the Administrative Agent, Arrangers, Syndication Agents and Lenders).

 

(d)        Certificates.
The Administrative Agent shall have received a properly executed Closing Certificate and Solvency Certificate, each dated as of
the Closing Date.

 

(e)        Prior
Credit Agreement. All commitments under the Prior Credit Agreement shall have been terminated, and all loans and accrued and
unpaid interest, fees and any other amounts outstanding under the Prior Credit Agreement shall have been paid in full; provided
that accrued and unpaid interest, fees and other amounts outstanding under the Prior Credit Agreement (other than principal amount
of loans) may be paid within ten (10) Business Days following the receipt by Borrower of an invoice from the Administrative Agent
regarding any such accrued and unpaid interest, fees or other amounts outstanding (it being understood that such amounts shall
be due and payable on such tenth Business Day if not paid prior to such date).

 

(f)        Arranger
Fees and Expenses. The Borrower shall have paid (i) all fees required to be paid on the Closing Date pursuant to this Agreement
or the Engagement Letter, dated as of January 19, 2016, between CIT Group Inc., and Merrill Lynch, Pierce, Fenner & Smith Incorporated
and (ii) to the Arrangers and Bank of America, N.A., in its capacity as Administrative Agent, to the extent invoiced at least one
(1) Business Day prior to the Closing Date, all reasonable out of pocket costs and expenses of the Administrative Agent and the
Arrangers in connection with the arrangement, preparation, negotiation and execution of this Agreement (including the reasonable
fees and expenses of Cahill Gordon & Reindel LLP as counsel to the Administrative Agent and the Arrangers) and any outstanding
costs and expenses referred to in Section 10.2 (which may include amounts constituting reasonable estimates of fees and expenses
of counsel and other advisors, provided that no such estimate shall thereafter preclude a final settling of account as to
such fees and expenses).

 

(g)        No
Material Adverse Effect. Since December 31, 2014, no event, circumstance or change has occurred that has caused or could reasonably
be expected to have, either in any case or in the aggregate, a Material Adverse Effect, except as otherwise disclosed in Borrower’s
Annual Report on Form 10-K for the Fiscal Year ended December 31, 2014 or any subsequent filings by Borrower with the SEC under
the Exchange Act.

 

(h)        Patriot
Act Information, etc. Each Lender shall have received, on or prior to the Closing Date, all documentation and other
information reasonably requested by such Lender that is required by bank regulatory authorities under applicable “know
your customer,” anti-money laundering and foreign asset control rules and regulations and any other compliance or
regulatory considerations applicable to such Lender (including the Patriot Act), including the information described in
Section 10.19.

 

 (i)        Representations
and Warranties. The representations and warranties contained herein and in the other Credit Documents shall be true and correct
in all material respects (except such representations and warranties that by their terms are qualified by materiality or a Material
Adverse Effect, which representations and warranties shall be true and correct in all respects) on and as of the

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Closing Date, to the same extent as though
made on and as of the Closing Date (or to the extent such representations and warranties specifically relate to an earlier date,
on and as of such earlier date).

 

(j)        No
Default. No Default or Event of Default shall have occurred and be continuing.

 

	 	3.2	Conditions to Each Credit Extension.

 

The obligation of each Lender to make any
Credit Extension (other than the conversion or continuation of a Loan) on any Credit Date, including the Closing Date (except as
otherwise specified), is subject to the satisfaction, or waiver in accordance with Section 10.5, of the following conditions precedent:

 

(i)       the
Administrative Agent shall have received a fully executed and delivered Funding Notice, if applicable;

 

(ii)       the
L/C Issuer shall have received fully executed and delivered Letter of Credit Application(s) (with copies to the Administrative
Agent), if applicable;

 

(iii)       as
of such Credit Date, the representations and warranties contained herein and in the other Credit Documents shall be true and correct
in all material respects (except such representations and warranties that by their terms are qualified by materiality or a Material
Adverse Effect, which representations and warranties shall be true and correct in all respects) on and as of that Credit Date,
to the same extent as though made on and as of that date (or to the extent such representations and warranties specifically relate
to an earlier date, on and as of such earlier date); and

 

(iv)       as
of such Credit Date, no event shall have occurred and be continuing or would result from the consummation of the applicable Credit
Extension or the use of proceeds thereof that would constitute an Event of Default or a Default.

 

The Administrative Agent shall be entitled, but not obligated,
to request and receive, prior to the making of any Credit Extension, additional information reasonably satisfactory to the Administrative
Agent confirming the satisfaction of any of the foregoing if, in the good faith judgment of the Administrative Agent, such request
is warranted under the circumstances.

 

SECTION
4.

 

REPRESENTATIONS AND
WARRANTIES

 

In order to induce Lenders to enter into
this Agreement and to make each Credit Extension to be made thereby, each Credit Party represents and warrants to the Administrative
Agent, Arrangers, Other Agents and each Lender, on the Closing Date and on the date of any Credit Extension (other than the conversion
or continuation of a Loan), that the following statements are true and correct:

 

	 	4.1	Organization; Requisite Power and Authority; Qualification.

 

Each Credit Party (a) is duly organized,
validly existing and in good standing under the laws of its jurisdiction of organization (which is identified, as of the Closing
Date, in Schedule 4.1), (b) has all requisite power and authority to own and operate its properties and to carry on its business
as now conducted and as proposed to be conducted, except, in each case, where the failure to have such power or

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authority has not had, and could not be reasonably
expected to have, a Material Adverse Effect, (c) has all requisite power and authority to enter into the Credit Documents to which
it is a party and to carry out the transactions contemplated thereby and, in the case of Borrower (or any Subsidiary for whose
account a Letter of Credit is issued), to receive the Credit Extensions hereunder, and (d) is qualified to do business and in good
standing in every jurisdiction where its assets are located and wherever necessary to carry out its business and operations, except
in jurisdictions where the failure to be so qualified or in good standing has not had, and could not be reasonably expected to
have, a Material Adverse Effect.

 

	 	4.2	Capital Stock and Ownership.

 

The Capital Stock of each of Borrower, each
U.S. Banking Subsidiary and the Restricted Subsidiaries (other than an Owner Trust) has been duly authorized and validly issued
and is fully paid and non-assessable.

 

	 	4.3	Due Authorization.

 

The execution, delivery and performance of
the Credit Documents have been duly authorized by all necessary action on the part of each Credit Party that is a party thereto
(except that any Owner Trustee has not yet received instructions from the beneficiary of the Owner Trust).

 

	 	4.4	No Conflict.

 

The execution, delivery and performance by
each of the Credit Parties of the Credit Documents to which they are parties and the consummation of the transactions contemplated
by such Credit Documents do not and will not: (a) violate (i) any provision of any law or any governmental rule or regulation applicable
to Borrower or any of its Restricted Subsidiaries, (ii) any of the Organizational Documents of Borrower or any of its Restricted
Subsidiaries, or (iii) any order, judgment or decree of any court or other agency of government binding on Borrower or any of its
Restricted Subsidiaries, in the case of clauses (i) and (iii), except as could not reasonably be expected to have a Material Adverse
Effect; (b) conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a default under any Contractual
Obligation of Borrower or any of its Restricted Subsidiaries, except as could not reasonably be expected to have a Material Adverse
Effect; (c) result in or require the creation or imposition of any Lien upon any of the properties or assets of Borrower or any
of its Restricted Subsidiaries, except as could not reasonably be expected to have a Material Adverse Effect; (d) except to the
extent it could not reasonably be expected to have a Material Adverse Effect, result in any default, noncompliance, suspension,
revocation, impairment, forfeiture or nonrenewal of any permit, license, authorization or approval applicable to its operations
or any of its properties; (e) require any approval of stockholders, members or partners; or (f) except to the extent it could not
reasonably be expected to have a Material Adverse Effect, require any approval or consent of any Person under any Contractual Obligation
of Borrower or any of its Restricted Subsidiaries, except for such approvals or consents which have been obtained on or before
the Closing Date.

 

	 	4.5	Governmental Consents.

 

Except as could not reasonably be expected
to have a Material Adverse Effect, the execution, delivery and performance by each of the Credit Parties of the Credit Documents
to which they are parties and the consummation of the transactions contemplated by such Credit Documents do not and will not require
any registration with, consent or approval of, or notice to, or other action to, with or by, any Governmental Authority.

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	 	4.6	Binding Obligation.

 

Each Credit Document has been duly executed and
delivered by each Credit Party that is a party thereto and is the legally valid and binding obligation of such Credit Party, enforceable
against such Credit Party in accordance with its respective terms, except as may be limited by bankruptcy, insolvency, reorganization,
moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable principles relating to enforceability
(whether enforcement is sought in equity or at law).

 

	 	4.7	Historical Financial Statements.

 

The Historical Financial Statements were prepared
in conformity with GAAP and fairly present, in all material respects, the financial position, on a consolidated basis, of the Persons
described in such financial statements as at the respective dates thereof and the results of operations and cash flows, on a consolidated
basis, of the entities described therein for each of the periods then ended, subject, in the case of any such unaudited financial
statements, to changes resulting from audit and normal year-end adjustments. As of the Closing Date, neither Borrower nor any of
its Subsidiaries has any contingent liability or liability for taxes, long term lease or unusual forward or long term commitment
that is not reflected in the Historical Financial Statements or the notes thereto and which, in any such case, is material in relation
to the business, operations, properties, assets, condition (financial or otherwise) or prospects of Borrower, its Restricted Subsidiaries
and the Banking Subsidiaries, taken as a whole.

 

	 	4.8	Adverse Proceedings, etc.

 

There are no Adverse Proceedings, individually
or in the aggregate, that (a) relate to any Credit Document or the transactions contemplated hereby or thereby or (b) could reasonably
be expected to have a Material Adverse Effect. Neither Borrower nor any of its Subsidiaries (a) is in violation of any applicable
Laws (including Environmental Laws) that, individually or in the aggregate, could reasonably be expected to have a Material Adverse
Effect, or (b) is subject to, or in default with respect to, any final judgments, writs, injunctions, decrees, rules or regulations
of any court or any federal, state, municipal or other governmental department, commission, board, bureau, agency or instrumentality,
domestic or foreign, that, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.

 

	 	4.9	Payment of Taxes.

 

Except as otherwise permitted under Section 5.3,
all Tax returns and reports of Borrower and its Restricted Subsidiaries required to be filed by any of them have been timely filed
taking into account extensions, and all Taxes (whether or not shown on such Tax returns) which are due and payable and all assessments,
fees and other governmental charges upon Borrower and its Restricted Subsidiaries and upon their respective properties, assets,
income, businesses and franchises which are due and payable have been paid when due and payable (including in the capacity as a
withholding agent) and adequate reserve for all Taxes not yet due and payable has been made, except to the extent that the failure
to file, pay or establish could not, individually or in the aggregate, reasonably be expected to cause a Material Adverse Effect.
Borrower knows of no material proposed tax assessment or other material claim or proceeding against Borrower or any of its Restricted
Subsidiaries which is not being actively contested by Borrower or such Restricted Subsidiary in good faith and by appropriate proceedings;
provided that such reserves or other appropriate provisions, if any, as shall be required in conformity with GAAP shall
have been made or provided therefor.

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	 	4.10	Properties.

 

Each of Borrower and its Restricted Subsidiaries
has (i) in the case of fee interests in real property, good, sufficient and legal title to, (ii) in the case of other owned real
or personal property, good, sufficient and legal title or ownership of, and (iii) in the case of leasehold interests in real or
personal property, valid leasehold interests and rights in, in each case, all of its properties and assets, including, without
limitation, those reflected in its Historical Financial Statements referred to in Section 4.7 and in the most recent financial
statements delivered pursuant to Section 5.1, in each case, except for (x) assets disposed of since the date of such financial
statements in the Ordinary Course of Business or as otherwise permitted under the Credit Documents, (y) encumbrances and defects
in title which would constitute Permitted Liens and (z) other defects in title that would not result in a Material Adverse Effect.
All such properties and assets are in working order and condition, ordinary wear and tear excepted, and except for Permitted Liens,
all such properties and assets are free and clear of Liens.

 

	 	4.11	Environmental Matters.

 

Neither Borrower nor any of its Subsidiaries
nor any of their respective facilities or operations are subject to any outstanding written order, consent decree or settlement
agreement with any Person relating to any Environmental Law, any Environmental Claim, or any Hazardous Materials Activity that,
individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. There are and, to each of Borrower’s
and its Restricted Subsidiaries’ knowledge, have been, no conditions, occurrences, or Hazardous Materials Activities which
could reasonably be expected to form the basis of an Environmental Claim against Borrower or any of its Restricted Subsidiaries
that, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. Compliance with all current
or pending future requirements pursuant to or under Environmental Laws by Borrower or any of its Subsidiaries could not be reasonably
expected to have, individually or in the aggregate, a Material Adverse Effect. No event or condition has occurred or is occurring
with respect to Borrower or any of its Restricted Subsidiaries relating to any Environmental Law, any Release of Hazardous Materials,
or any Hazardous Materials Activity which, individually or in the aggregate, has had, or could reasonably be expected to have,
a Material Adverse Effect.

 

	 	4.12	No Defaults.

 

Neither Borrower nor any of its Restricted Subsidiaries
is in default in the performance, observance or fulfillment of any of the obligations, covenants or conditions contained in any
of its Contractual Obligations, and no condition exists which, with the giving of notice or the lapse of time or both, could constitute
such a default, except where the consequences, direct or indirect, of such default or defaults, if any, could not reasonably be
expected to have a Material Adverse Effect. No Default or Event of Default has occurred and is continuing.

 

	 	4.13	Governmental Regulation.

 

No Credit Party is subject to regulation under
the Federal Power Act or the Investment Company Act of 1940 or under any other federal or state statute or regulation which may
limit its ability to incur Indebtedness contemplated hereunder (or any refinancings hereof) or which may otherwise render all or
any portion of the Obligations unenforceable. Neither Borrower nor any of its Restricted Subsidiaries is a “registered investment
company” or a company “controlled” by a “registered investment company” or a “principal underwriter”
of a “registered investment company”, as such terms are defined in the Investment Company Act of 1940.

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	 	4.14	Margin Stock.

 

No part of the proceeds of the Loans made to
such Credit Party will be used to purchase or carry any Margin Stock or to extend credit to others for the purpose of purchasing
or carrying any such Margin Stock or for any purpose that violates, or is inconsistent with, the provisions of Regulation T, U
or X of the Board of Governors of the Federal Reserve System.

 

	 	4.15	Employee Matters.

 

(a)        Borrower,
its Restricted Subsidiaries, and their respective employees, agents and representatives have not committed any material unfair
labor practice, as defined in the National Labor Relations Act that could reasonably be expected to have a Material Adverse Effect.
There is (a) no unfair labor practice complaint pending against Borrower or any of its Restricted Subsidiaries, or to the best
knowledge of any Relevant Officer of Borrower, threatened in writing against any of them before the National Labor Relations Board
or any other Governmental Authority and no grievance or arbitration proceeding arising out of or under any collective bargaining
agreement or similar agreement that is so pending against Borrower or any of its Restricted Subsidiaries or, to the best knowledge
of any Relevant Officer of Borrower, threatened in writing against any of them, (b) no labor dispute, strike, lockout, or work
stoppage in existence or, to the best knowledge of any Relevant Officer of Borrower, threatened in writing against or involving
Borrower or any of its Restricted Subsidiaries that could reasonably be expected to have a Material Adverse Effect, (c) no labor
union, labor organization, trade union, works council, or group of employees of Borrower or any of its Restricted Subsidiaries
has made a pending demand for recognition or certification, and there are no representation or certification proceedings or petitions
seeking a representation proceeding presently pending or threatened to be brought or filed against Borrower or any of its Restricted
Subsidiaries with the National Labor Relations Board or any other Governmental Authority, and (d) to the best knowledge of any
Relevant Officer of Borrower, no union representation question existing with respect to any of the employees of Borrower or any
of its Restricted Subsidiaries and, to the best knowledge of any Relevant Officer of Borrower, no labor union organizing activity
with respect to any employees of Borrower or any of its Restricted Subsidiaries that is taking place, except (with respect to any
matter specified in clause (a), (b), (c), or (d) above, either individually or in the aggregate) such as is not reasonably likely
to have a Material Adverse Effect.

 

(b)        As
of the Amendment No. 2 Effective Date, Borrower is not and will not be using “plan assets” (within the meaning of 29
CFR § 2510.3-101, as modified by Section 3(42) of ERISA) of one or more Benefit Plans in connection with the Loans, the Letters
of Credit or the Commitments.

 

	 	4.16	Employee Benefit Plans.

 

(a)        Except
as could not reasonably be expected to result in a Material Adverse Effect, each Employee Benefit Plan is in material compliance
with all applicable provisions and requirements of ERISA and the Internal Revenue Code and the regulations and published interpretations
thereunder, except for any required amendments for which the remedial amendment period, as defined in Section 401(b) or other applicable
provision of the Internal Revenue Code, has not yet expired and except where a failure to so comply would not reasonably be expected
to have a Material Adverse Effect.

 

(b)        As
of the Closing Date, except (in each of the following cases) as would not reasonably be expected to result in a Material Adverse
Effect, no Pension Plan has been terminated, nor is any Pension Plan in an “at-risk” status pursuant to Section 303
of ERISA, nor has any funding waiver from the Internal Revenue Service been received or requested with respect to any Pension Plan,
nor has 

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there been any event requiring any disclosure under Section
4041(c)(3)(C) or 4063(a) of ERISA with respect to any Pension Plan.

 

(c)        Except
where the failure of any of the following representations to be correct in all material respects would not reasonably be expected
to have a Material Adverse Effect, Borrower, any of its Restricted Subsidiaries or ERISA Affiliate has not: (A) engaged in a nonexempt
prohibited transaction described in Section 406 of the ERISA or Section 4975 of the Internal Revenue Code, (B) incurred any liability
to the PBGC which remains outstanding, other than the payment of premiums, and there are no premium payments which are due and
unpaid, (C) failed to make a required contribution or payment to a Multiemployer Plan, or (D) failed to make a required installment
or other required payment under Section 412 or 430 of the Internal Revenue Code.

 

(d)        Except
as could not reasonably be expected to result in a Material Adverse Effect, no ERISA Event has occurred or is reasonably expected
to occur with respect to Borrower, any of its Restricted Subsidiaries or any of their respective ERISA Affiliates.

 

(e)        Except
(i) to the extent required under Section 4980B of the Internal Revenue Code or similar state laws, or otherwise funded entirely
by the participants thereof, or accrued for on the financial statements of Borrower or its Restricted Subsidiaries or (ii) as could
not reasonably be expected to result in a Material Adverse Effect, no Employee Benefit Plan provides health or welfare benefits
(through the purchase of insurance or otherwise) for any retired or former employee of Borrower, any of its Restricted Subsidiaries
or any of their respective ERISA Affiliates.

 

	 	4.17	Solvency.

 

Borrower and its consolidated Subsidiaries, taken
as a whole, are and, upon the incurrence of any Credit Extension by the Credit Parties on any date on which this representation
and warranty is made, will be, Solvent.

 

	 	4.18	Compliance with Statutes, etc.

 

Each of Borrower and its Subsidiaries is in compliance
with its organizational documents and all applicable statutes, regulations and orders of, and all applicable restrictions imposed
by, all Governmental Authorities, in respect of the conduct of its business and the ownership of its property (including compliance
with all applicable Environmental Laws with respect to any Real Estate Asset or governing its business and the requirements of
any permits issued under such Environmental Laws with respect to any such Real Estate Asset or the operations of Borrower or any
of its Restricted Subsidiaries), except such non-compliance that, individually or in the aggregate, could not reasonably be expected
to result in a Material Adverse Effect.

 

	 	4.19	Disclosure.

 

No representation or warranty of any Credit Party
contained in any Credit Document, none of Borrower’s Annual Report on Form 10-K for the Fiscal Year ended December 31, 2016
or any subsequent filings by Borrower with the SEC, and none of the reports, financial statements or other documents, certificates
or written statements furnished to Lenders by or on behalf of Borrower or any of its Restricted Subsidiaries for use in connection
with the transactions contemplated hereby contains any untrue statement of a material fact or omits to state a material fact (known
to any Relevant Officer of Borrower, in the case of any document not furnished by Borrower or any of its Restricted Subsidiaries)
necessary in order to make the statements contained herein or therein not misleading in light of the circumstances in which the
same were made; provided that, with respect to projected financial 

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information, the Credit Parties represent only that such
information was prepared in good faith based upon assumptions that Borrower believed to be reasonable at the time prepared.

 

	 	4.20	Terrorism Laws, FCPA and Sanctions.

 

(a)        Borrower
and its Subsidiaries are in compliance in all material respects with the United States Foreign Corrupt Practices Act of 1977, as
amended, the UK Bribery Act 2010, other applicable anti-corruption legislation, and the Terrorism Laws. No part of the proceeds
of any Credit Extension will be used, directly or indirectly, for any payments to any governmental official or employee, political
party, official of a political party, candidate for political office, or anyone else acting in an official capacity in violation
of the United States Foreign Corrupt Practices Act of 1977, as amended, the UK Bribery Act 2010, and other applicable anti-corruption
legislation.

 

(b)        None
of Borrower, any of its Subsidiaries or any director or officer of the foregoing, or, to the knowledge of any Relevant Officer
of Borrower, any employee, independent contractor, consultant, third-party vendor, advisor, Affiliate or representative of Borrower
or any of its Subsidiaries, is an individual or entity currently the subject of any Sanctions, nor is Borrower or any Subsidiary
located, organized or resident in a Prohibited Country.

 

(c)        Credit
Parties will not, directly or indirectly, use the proceeds of any Credit Extension, or lend, contribute or otherwise make available
such proceeds to any Subsidiary, joint venture partner or other individual or entity, to fund any activities of or business with
any individual or entity, or in any Prohibited Country, that, at the time of such funding, is to the knowledge of a Relevant Officer
of the Borrower the subject of Sanctions, or in any other manner that will result in a violation of Sanctions applicable to any
party hereto.

 

(d)        Borrower
has implemented and maintains in effect policies and procedures designed to provide reasonable assurance of compliance by the Borrower,
its Subsidiaries and their respective directors, officers, employees, independent contractors, consultants, third-party vendors
and advisors with Terrorism Laws, Sanctions, the United States Foreign Corrupt Practices Act of 1977, as amended, the UK Bribery
Act 2010, and other applicable anti-corruption legislation.

 

	 	4.21	Insurance.

 

The properties of Borrower and each of its Restricted
Subsidiaries are adequately insured with financially sound and reputable insurers and in such amounts, with such deductibles and
covering such risks and otherwise on terms and conditions, as have been customarily carried or maintained by Borrower and such
insurance complies with the requirements of Section 5.5.

 

	 	4.22	Intellectual Property.

 

Each Credit Party and its Restricted Subsidiaries
owns, or is licensed to use, all trademarks, trade names, copyrights, patents and other intellectual property material to the operation
of its business, as currently conducted, and the use thereof by the Credit Parties and their respective Restricted Subsidiaries
does not infringe, misappropriate, dilute, misuse or otherwise violate the rights of any other Person, except, in each of the above
cases, as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

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	 	4.23	Permits, etc.

 

Each Credit Party has, and is in compliance with,
all permits, licenses, authorizations, approvals, entitlements and accreditations required for such Person lawfully to own, lease,
manage or operate, or to acquire, each business currently owned, leased, managed or operated, or to be acquired, by such Person,
other than such that, if not obtained, could not reasonably be expected to have a Material Adverse Effect. No condition exists
or event has occurred which, in itself or with the giving of notice or lapse of time or both, would result in the suspension, revocation,
impairment, forfeiture or non-renewal of any such permit, license, authorization, approval, entitlement or accreditation, and there
is no claim that any thereof is not in full force and effect, except, in each of the foregoing cases, to the extent any such condition,
event or claim could not be reasonably be expected to have a Material Adverse Effect.

 

	 	4.24	EEA Financial Institutions.

 

No Credit Party is an EEA Financial Institution.

 

SECTION
5.

AFFIRMATIVE COVENANTS

 

Each Credit Party that is a party to this Agreement
covenants and agrees that so long as any Commitment is in effect and until payment in full of all Obligations (other than contingent
obligations not yet due) and the expiration or termination or Acceptable Collateralization of all Letters of Credit, each such
Credit Party shall perform, and shall cause each of its Restricted Subsidiaries to perform, all covenants in this Section 5.

 

	 	5.1	Financial Statements and Other Reports.

 

Unless otherwise provided below, Borrower will
deliver to Administrative Agent and Lenders (which, in the case of the financial statements referred to in clauses (a) and (b)
below, shall not be required to be delivered to the extent filed by Borrower with the SEC):

 

(a)        Quarterly
Financial Statements. As soon as available, and in any event within forty-five (45) days (or such later date as Borrower files
its quarterly reports pursuant to Rule 12b-25 under the Exchange Act or any other similar rule promulgated by the SEC) after the
end of each of the first three Fiscal Quarters of each Fiscal Year (commencing with the Fiscal Quarter ending March 31, 2016),
the consolidated balance sheets of Borrower and its Subsidiaries as at the end of such Fiscal Quarter and the related consolidated
statements of income, stockholders’ equity and cash flows of Borrower and its Subsidiaries for such Fiscal Quarter and for
the period from the beginning of the then current Fiscal Year to the end of such Fiscal Quarter, setting forth, in each case, in
comparative form the corresponding figures for the corresponding periods of the previous Fiscal Year, all in reasonable detail.

 

(b)        Annual
Financial Statements. As soon as available, and in any event within ninety (90) days (or such later date as Borrower files
its annual reports pursuant to Rule 12b-25 under the Exchange Act or any other similar rule promulgated by the SEC) after the end
of each Fiscal Year (commencing with the Fiscal Year ended December 31, 2015), (i) the consolidated balance sheets of Borrower
and its Subsidiaries as at the end of such Fiscal Year and the related consolidated statements of income, stockholders’ equity
and cash flows of Borrower and its Subsidiaries for such Fiscal Year, setting forth, in each case, in comparative form the corresponding
figures for the previous Fiscal Year, in reasonable detail and (ii) with respect to such financial statements referred to in clause
(i) a report thereon of PricewaterhouseCoopers LLP or other independent certified public accountants of recognized national

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standing selected by Borrower, reported on without a “going
concern” or similar qualification, exception or explanatory statement, or qualification arising out of the scope of the audit,
and reasonably satisfactory to Administrative Agent and shall state that such consolidated financial statements fairly present,
in all material respects, the consolidated financial position of Borrower and its Subsidiaries as at the dates indicated and the
results of their operations and their cash flows for the periods indicated in conformity with GAAP, applied on a basis consistent
with prior years (except as otherwise disclosed in such financial statements) and that the examination by such accountants in connection
with such consolidated financial statements has been made in accordance with generally accepted auditing standards.

 

(c)        Compliance
Certificate; Guarantor Asset Coverage Ratio Certificate. Together with each required delivery of financial statements pursuant
to Sections 5.1(a) and 5.1(b), a duly executed and completed Compliance Certificate, which shall include information in reasonable
detail demonstrating the calculation of the covenants set forth in Section 6.3(a) (including, in the case of filed financial statements,
a reference or hyperlink to the filed financial statements to which the Compliance Certificate relates). Within 45 days after the
end of each month (commencing with the month ended December 31, 2015), Borrower shall deliver to Administrative Agent a duly executed
and completed Guarantor Asset Coverage Ratio Certificate using the Carrying Values as of the end of such month; provided
that the Guarantor Asset Coverage Ratio Certificate for the month ended December 31, 2015 delivered under the Prior Credit Agreement
shall be deemed to have been delivered hereunder.

 

(d)        Notice
of Default. Prompt written notice (but, in any event, within five (5) Business Days of a Relevant Officer of Borrower becoming
aware thereof) (i) of any condition or event that constitutes an Event of Default or that notice has been given to Borrower with
respect thereto; or (ii) of the occurrence of any event or change that has caused, either in any case or in the aggregate, a Material
Adverse Effect, which notice shall be accompanied by an Officer’s Certificate specifying the nature and period of existence
of such Event of Default, event or change, and what action Borrower has taken, is taking and proposes to take with respect thereto.

 

(e)        Notice
of Litigation. Prompt written notice (but, in any event, within five (5) Business Days of a Relevant Officer of Borrower becoming
aware thereof) of (i) any Adverse Proceeding not previously disclosed in writing by Borrower to Lenders, (ii) any development in
any Adverse Proceeding or (iii) any investigation of any Credit Party by any Governmental Authority (unless prohibited by law,
rule, regulation or judicial or administrative order or directive by any Governmental Authority and other than any routine inquiry
or any inquiry, action or investigation or supervisory activity by the Federal Reserve Board) that, in the case of any of clause
(i), (ii) or (iii) if adversely determined, could be reasonably expected to have a Material Adverse Effect, or seeks to enjoin
or otherwise prevent the consummation of, or to recover any damages or obtain relief as a result of, the transactions contemplated
hereby, or alleges any criminal misconduct by any Credit Party that could be reasonably expected to have a Material Adverse Effect.

 

(f)        ERISA.
In the event of the occurrence of any ERISA Event that could reasonably be expected to have a Material Adverse Effect, a prompt
written notice (but, in any event, within five (5) Business Days of a Relevant Officer of Borrower becoming aware thereof) specifying
the nature thereof, what action Borrower, any of its Restricted Subsidiaries or any of their respective ERISA Affiliates has taken,
is taking or proposes to take with respect thereto and, when known to any Relevant Officer of Borrower, any action taken or threatened
in writing by the Internal Revenue Service, the Department of Labor or the PBGC with respect thereto.

 

(g)        Other
Debt Notices. Promptly after the distribution thereof (but, in any event, within five (5) Business Days thereafter, unless
such has been publicly filed with the SEC or posted to Borrower’s website (and notification of any such posting has been
provided to the Administrative Agent)

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or has otherwise been previously provided to the Administrative
Agent hereunder or under any other Credit Document), copies of all reports and other materials distributed to the lenders under
any other syndicated revolving credit facility of Borrower or any Institutional Term Loan or the holders of any Publicly Traded
Debt Securities (or any trustee, agent or other representative therefor) in excess of the Threshold Amount pursuant to the terms
of the documentation governing such Indebtedness, and notice in writing following any event of default under any other syndicated
revolving credit facility of Borrower or any Institutional Term Loan or any Publicly Traded Debt Securities in excess of the Threshold
Amount.

 

(h)        Information
Regarding Guarantor Assets. Following the GAAP Change Date, Borrower shall cause to be delivered to Administrative Agent a
copy of each appraisal setting forth Appraised Value of Eligible Aircraft and Eligible Railcars included in the Guarantor Asset
Coverage Ratio, promptly following Borrower’s receipt thereof from a Qualified Appraiser. In addition, if any Guarantor disposes
of any of its assets in the amount in excess of $350,000,000, in any single transaction or series of related transactions, Borrower
shall notify Administrative Agent in writing as soon as reasonably practicable but in any event within ten (10) Business Days of
the disposition.

 

(i)        Violations
of Terrorism Laws. Promptly, unless prohibited by law, rule, regulation or judicial or administrative order, (i) if any Relevant
Officer of any Credit Party obtains knowledge that any Credit Party or any Affiliate of Borrower which owns, directly or indirectly,
any Securities of any Credit Party is the subject of any of the Terrorism Laws, such Credit Party will notify Administrative Agent
and (ii) upon the request of any Lender, such Credit Party will provide any information in such Credit Party’s possession,
such Lender believes is reasonably necessary to be delivered to comply with the Patriot Act.

 

(j)        Other
Information. (A) Upon the reasonable request of the Administrative Agent, and upon reasonable prior notice (unless such has
been publicly filed with any securities exchange or with the SEC or any governmental or private regulatory authority or has been
posted to Borrower’s website (and notification of any such posting has been provided to the Administrative Agent) or has
otherwise been previously provided to the Administrative Agent hereunder or under any other Credit Document), copies of (i) all
financial statements, reports, notices and proxy statements sent or made available generally by Borrower to its security holders
acting in such capacity or by any Restricted Subsidiary of Borrower to its security holders other than Borrower or another Restricted
Subsidiary of Borrower, (ii) all regular and periodic reports and all registration statements and prospectuses, if any, filed by
Borrower or any of its Restricted Subsidiaries with any securities exchange or with the SEC or any governmental or private regulatory
authority, (iii) all press releases and other statements made available generally by Borrower or any of its Restricted Subsidiaries
to the public concerning material developments in the business of Borrower or any of its Restricted Subsidiaries and (B) such other
information and data with respect to Borrower or any of its Subsidiaries, as from time to time may be reasonably requested by Administrative
Agent.

 

(k)        Certification
of Public Information. Borrower and each Lender acknowledge that certain of the Lenders may be “public-side” Lenders
(Lenders that do not wish to receive material non-public information with respect to Borrower, its Restricted Subsidiaries or their
securities) (the “Public Lenders”) and, if documents or notices required to be delivered pursuant to this Section
5.1 or otherwise are being distributed through IntraLinks/IntraAgency, SyndTrak, ClearPar or a substantially similar electronic
transmission system or another relevant website (the “Information Platform”), any document or notice that Borrower
has indicated contains Non-Public Information shall not be posted on that portion of the Information Platform designated for such
Public Lenders. Borrower agrees to clearly designate all information provided to the Administrative Agent by or on behalf of Borrower
which is suitable to make available to Public Lenders which, at a minimum, shall mean the word “PUBLIC” shall appear
prominently on the first page thereof. If Borrower has not indicated whether a document or notice

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delivered pursuant to this Section 5.1 contains Non-Public Information,
the Administrative Agent reserves the right to post such document or notice solely on that portion of the Information Platform
designated for Lenders who wish to receive material non-public information with respect to Borrower, its Subsidiaries and their
securities.

 

	 	5.2	Existence.

 

Except as otherwise permitted under this Agreement,
Borrower will, and will cause each Restricted Subsidiary and each U.S. Banking Subsidiary to, at all times preserve and keep in
full force and effect its existence and all rights and governmental authorizations, qualifications, franchises, licenses and permits
material to its business and to conduct its business in each jurisdiction in which its business is conducted, in each case, except
to the extent that the failure to do so could not reasonably be expected to have a Material Adverse Effect; provided that
none of Borrower, any Restricted Subsidiary or any U.S. Banking Subsidiary shall be required to preserve any such existence (other
than Borrower or CIT Bank), right or governmental authorizations, qualifications, franchise, licenses and permits, if such Person
shall determine that the preservation thereof is no longer desirable in the conduct of the business of such Person, and that the
loss thereof is not disadvantageous in any material respect to such Person or to Lenders.

 

	 	5.3	Payment of Taxes and Claims.

 

Each Credit Party will, and will cause each of
its Restricted Subsidiaries to, or in case of leased assets will contract with the applicable lessee to, pay all Taxes imposed
upon it or any of its properties or assets or in respect of any of its income, businesses or franchises before any penalty or fine
accrues thereon, and all claims (including claims for labor, services, materials and supplies) for sums that have become due and
payable and/or that by law have or may become a Lien upon any of its properties or assets, prior to the time when any penalty or
fine shall be incurred with respect thereto, in each case, except to the extent that the failure to pay any such item (either individually
or together with all other such unpaid items) could not reasonably be expected to have a Material Adverse Effect; provided
that no such Tax or claim need be paid if it is being contested in good faith by appropriate proceedings promptly instituted and
diligently conducted, so long as (a) adequate reserve or other appropriate provision, as shall be required in conformity with GAAP
shall have been made therefor and (b) in the case of leased assets, such contest proceedings are being conducted in accordance
with terms set forth in the applicable lease.

 

	 	5.4	Maintenance of Properties.

 

Each Credit Party will, and will cause each of
its Restricted Subsidiaries to, or in the case of leased assets will contract with the applicable lessee to, if the failure to
do any of the following could reasonably be expected to constitute a Material Adverse Effect: (a) maintain or cause to be maintained
in good repair, working order and condition, ordinary wear and tear excepted, all material assets used or useful in the business
of Borrower and its Restricted Subsidiaries and from time to time will make or cause to be made all appropriate repairs, renewals
and replacements thereof and (b) comply at all times with the provisions of all material leases to which it is a party as lessee
under which it occupies property, so as to prevent any loss or forfeiture thereof or thereunder.

 

	 	5.5	Insurance.

 

Borrower will maintain or cause to be maintained,
with financially sound and reputable insurers, such casualty insurance, such public liability insurance, third party property damage
insurance with respect to liabilities, losses or damage in respect of the assets, properties and businesses of Borrower and its
Restricted Subsidiaries, as has heretofore been customarily carried or maintained by Borrower in

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respect of the assets, properties and businesses
of Borrower and its Restricted Subsidiaries, in each case, in such amounts (giving effect to self-insurance and provided that adequate
reserves therefor are maintained in accordance with GAAP), with such deductibles, covering such risks and otherwise on such terms
and conditions, as shall be customary for Borrower in respect of the assets, properties and businesses of Borrower and its Restricted
Subsidiaries.

 

	 	5.6	Books and Records; Inspections.

 

Each Credit Party will, and will cause each of
its Restricted Subsidiaries to, (a) keep adequate books of record and account in which full, true and correct entries are made
of all dealings and transactions in relation to its business and activities and (b) permit Administrative Agent, any Lender and
any of their respective representatives (including employees, consultants, accountants, lawyers and appraisers) to visit and inspect
any of the properties of any Credit Party and any of its Restricted Subsidiaries, to inspect, copy and take extracts from its and
their financial and accounting records, and to discuss its and their affairs, finances and accounts with its and their officers
and independent accountants, all upon reasonable notice and at such reasonable times during normal business hours, as often as
may reasonably be requested; provided that (i) visits by any Lender shall be coordinated through Administrative Agent at
Borrower’s request and (ii) so long as no Event of Default has occurred and is continuing, visits by any Lender or its representatives
shall be limited to once per Fiscal Year and shall be at such Lender’s expense. By this provision the Credit Parties authorize
such accountants to discuss with Administrative Agent and each Lender and such representatives the affairs, finances and accounts
of Borrower and its Restricted Subsidiaries. The Credit Parties acknowledge that Administrative Agent, after exercising its rights
of inspection, may prepare and distribute to the Lenders certain reports pertaining to the Credit Parties’ assets for internal
use by Administrative Agent and the Lenders; provided that, in each case, the foregoing shall be subject to any confidentiality
restrictions to which any Credit Party or its Subsidiaries are subject in the conduct of Ordinary Course of Business.

 

	 	5.7	Compliance with Laws.

 

(a)        Each
Credit Party will comply, and shall cause each of its Subsidiaries to comply with the requirements of all applicable Laws, rules,
regulations and orders of any Governmental Authority (including all Environmental Laws), except where noncompliance could not reasonably
be expected to have, individually or in the aggregate, a Material Adverse Effect. Each Credit Party shall take all reasonable and
necessary actions to ensure that no portion of the Loans will be used, disbursed or distributed for any purpose, or to any Person,
directly or indirectly, in violation of any of the Terrorism Laws and shall take all reasonable and necessary action to comply
in all material respects with all Terrorism Laws with respect thereto.

 

(b)        Borrower
will maintain, and cause each U.S. Banking Subsidiary that is a chartered or licensed banking institution that is authorized to
take deposits to maintain, at all times such amount of capital (including a total capital ratio, Tier 1 Capital Ratio, Tier 1 leverage
ratio and any other ratio relating to capital), as may be prescribed by the applicable bank regulatory authority, as the case may
be, from time to time, by statute, rule or regulation, as is necessary for Borrower and each such U.S. Banking Subsidiary to be
considered “well capitalized” (or similar term) by applicable statute, rule or regulation.

 

	 	5.8	Environmental.

 

Each Credit Party shall (a) promptly take, and
shall cause each of its Restricted Subsidiaries promptly to take, any and all actions necessary to (i) cure any violation of applicable
Environmental Laws by such Credit Party or its Restricted Subsidiaries that could reasonably be expected

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to have, individually or in the aggregate, a
Material Adverse Effect, and (ii) make an appropriate response to any Environmental Claim against such Credit Party or any of its
Restricted Subsidiaries and discharge any obligations it may have to any Person thereunder where failure to do so could reasonably
be expected to have, individually or in the aggregate, a Material Adverse Effect and (b) if a Default caused by reason of a breach
of any representation, warranty or covenant related to environmental matters (including those contained in Sections 4.10, 4.13,
5.7 or 5.8) shall have occurred and be continuing for more than 20 days without the Credit Parties commencing activities reasonably
likely to cure such Default in accordance with Environmental Laws, at the written request of the Administrative Agent or the Requisite
Lenders through the Administrative Agent, provide to the Lenders within 90 days after such request, at the expense of Borrower,
an environmental assessment report regarding the matters which are the subject of such Default, including, where appropriate, soil
and/or groundwater sampling, prepared by an environmental consulting firm and, in the form and substance, reasonably acceptable
to the Administrative Agent and indicating the presence or absence of Hazardous Materials and the estimated cost of any compliance
or corrective action or response action with respect to any of the foregoing.

 

	 	5.9	Additional Guarantors.

 

If
the Borrower desires any Restricted Subsidiary that is not already a Guarantor to become a guarantor or obligor under this Agreement,
then Borrower shall cause that Restricted Subsidiary to become a Guarantor hereunder by (1) executing and delivering to
the Administrative Agent a Guarantor Counterpart Agreement, (2) delivering to the Administrative Agent an opinion of counsel (which
may be in-house counsel) regarding authorization, execution and enforceability, reasonably satisfactory to the Administrative Agent
and (3) take all such actions and execute and deliver, or cause to be executed and delivered, all such documents, instruments,
agreements, and certificates, as are similar to those described in Section 3.1(b).

 

	 	5.10	Designation of Restricted and Unrestricted Subsidiaries.

 

(a)        Borrower
may (i) designate any Restricted Subsidiary (including any Subsidiary that is acquired after the Prior Credit Agreement Date) to
be an Unrestricted Subsidiary if, at the time of designation, such Restricted Subsidiary is a Special Purpose Entity (whether bankruptcy
remote or not), Regulated Subsidiary, Joint Venture, Immaterial Subsidiary or Owner Trust (other than a Qualified Owner Trust)
or (ii) form a Subsidiary that is a Special Purpose Entity (whether bankruptcy remote or not), Regulated Subsidiary, Joint Venture,
Immaterial Subsidiary or Owner Trust (other than a Qualified Owner Trust) as an Unrestricted Subsidiary, in each case, if after
giving effect thereto no Event of Default has occurred and is continuing or would occur as a result thereof. Notwithstanding anything
to the contrary, no Subsidiary that is a “Restricted Subsidiary” or an obligor or guarantor under documents governing
any Publicly Traded Debt Securities shall be permitted to be designated an Unrestricted Subsidiary, unless such “Restricted
Subsidiary,” obligor or guarantor is also being concurrently designated to be an “Unrestricted Subsidiary” under
the documents governing such Publicly Traded Debt Securities. For the avoidance of doubt, no Guarantor shall be an Unrestricted
Subsidiary.

 

(b)        In
the case of clause (a)(i) above, upon such designation, Borrower shall deliver to Administrative Agent an Officer’s Certificate
certifying that the designation of a Restricted Subsidiary as an Unrestricted Subsidiary complies with the preceding conditions.
In the case of clause (a)(ii) above, reasonably promptly upon request of the Administrative Agent, Borrower shall deliver to Administrative
Agent an Officer’s Certificate setting forth all Unrestricted Subsidiaries formed since the time of the last such request
from the Administrative Agent or, if no such prior request was made, since the Prior Credit Agreement Date, and certifying that
all such formations complied with the preceding conditions. If, at any time, any Unrestricted Subsidiary would fail to meet the requirements
of being an Unrestricted Subsidiary, it will thereafter cease to be an Unrestricted Subsidiary for purposes of this Agreement.

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(c)        Borrower
may at any time designate any Unrestricted Subsidiary to be a Restricted Subsidiary; provided that such designation will
only be permitted, if no Event of Default would be in existence as a result of such designation.

 

	 	5.11	Ratings.

 

Borrower will use commercially reasonable efforts
to have the revolving credit facilities hereunder rated by Moody’s and S&P at all times that the Obligations are outstanding.

 

	 	5.12	Use of Proceeds.

 

Loans and Letters of Credit will be used for
general corporate purposes of Borrower and its Subsidiaries. No part of the proceeds of any Credit Extension will be used, whether
directly or indirectly, for any purpose that violates any law, including Regulations T, U and X of the Board of Governors of the
Federal Reserve System.

 

	 	5.13	Ownership of CIT Bank.

 

CIT Bank shall remain a direct or indirect wholly-owned
Subsidiary of the Borrower.

 

SECTION
6.

 

NEGATIVE COVENANTS

 

Each Credit Party that is a party to this Agreement
covenants and agrees that, so long as any Commitment is in effect and until payment in full of all Obligations (other than contingent
obligations not yet due) and the expiration or termination or Acceptable Collateralization of all Letters of Credit, such Credit
Party shall perform, and shall cause each of its Restricted Subsidiaries (to the extent applicable) to perform, all covenants in
this Section 6.

 

	 	6.1	Liens.

 

Borrower shall not pledge or otherwise subject
to any Lien any of its property or assets to secure Indebtedness for money borrowed, incurred, issued, assumed or guaranteed by
Borrower without thereby expressly securing the due and punctual payment of the Obligations equally and ratably with any and all
other Indebtedness for borrowed money secured by such Lien, so long as any such other Indebtedness shall be so secured; provided,
however, that this restriction shall not prohibit or otherwise restrict:

 

(1)        Liens
existing on the Prior Credit Agreement Date;

 

(2)        [Reserved];

 

(3)        Borrower
from creating, incurring or suffering to exist upon any of its property or assets any Lien in favor of any Subsidiary of Borrower;

 

(4)        Borrower
(i) from creating, incurring or suffering to exist a purchase money Lien upon any such property, assets, capital stock or Indebtedness
acquired by Borrower prior to, at the time of, or within one year after (A) in the case of physical property or assets, the later
of the acquisition, completion of construction (including any
improvements on existing property) or commencement of commercial operation of such property or (B) in the case of shares of Capital
Stock, Indebtedness or other property or assets, the acquisition of such shares of Capital

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 Stock, Indebtedness, property or assets,
(ii) from acquiring property or assets subject to Liens existing thereon at the date of acquisition thereof, whether or not the
Indebtedness secured by any such Lien is assumed or guaranteed by Borrower, or (iii) from creating, incurring or suffering to exist
Liens upon any property of any Person, which Liens exist at the time any such Person is merged with or into or consolidated with
Borrower (or becomes a Subsidiary of Borrower) or which Liens exist at the time of a sale or transfer of the properties of any
such Person as an entirety or substantially as an entirety to Borrower;

 

(5)        Borrower
from creating, incurring or suffering to exist upon any of its property or assets Liens in favor of the United States or any state
thereof or the District of Columbia, or any agency, department or other instrumentality thereof, to secure progress, advance or
other payments pursuant to any contract or provision of any statute (including maintaining self-insurance or participating in any
fund in connection with worker’s compensation, disability benefits, unemployment insurance, old age pensions or other types
of social benefits, or joining in any other provisions or benefits available to companies participating in any such arrangements);

 

(6)        Borrower
from creating, incurring or suffering to exist upon any of its property or assets Liens securing its obligations under letters
of credit issued, Rate Management Transactions entered into not for speculative purposes, bids, tenders, sales contracts, purchase
agreements, repurchase agreements, reverse repurchase agreements, bankers’ acceptances, leases, surety and performance bonds,
and other similar obligations, in each case, incurred in the ordinary course of business;

 

(7)        Borrower
from creating, incurring or suffering to exist Liens upon any real property acquired or constructed by Borrower primarily for use
in the conduct of its business;

 

(8)        Borrower
from entering into any arrangement with any Person providing for the leasing by Borrower of any property or assets, which property
or assets have been or will be sold or transferred by Borrower to such Person with the intention that such property or assets will
be leased back to Borrower, if the obligations in respect of such lease would not be included as liabilities on a consolidated
balance sheet of Borrower;

 

(9)        Borrower
from creating, incurring or suffering to exist upon any of its property or assets Liens to secure non-recourse debt in connection
with Borrower engaging in any leveraged or single-investor or other lease transactions, whether (in the case of Liens on or relating
to leases or groups of leases or the particular properties subject thereto) such Liens are on the particular properties subject
to any leases involved in any of such transactions and/or the rental or other payments or rights under such leases or, in the case
of any group of related or unrelated leases, on the properties subject to the leases comprising such group and/or on the rental
or other payments or rights under such leases, or on any direct or indirect interest therein, and whether (in any case) (A) such
Liens are created prior to, at the time of, or at any time after the entering into of such lease transactions and/or (B) such leases
are in existence prior to, or are entered into by Borrower at the time of or at any time after, the purchase or other acquisition
by Borrower of the properties subject to such leases;

 

(10)        Borrower
from creating, incurring or suffering to exist (A) other consensual Liens in the ordinary course of business of Borrower that
secure Indebtedness that, in accordance with GAAP, would not be included in total liabilities, as shown on Borrower’s
consolidated balance sheet, to the extent such Liens are created by
reason of dispositions not characterized as “true sales” under FASB ASC 810 or 860 (or any successor to any of the
foregoing), or (B) Liens

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 created by Borrower in connection with any transaction intended by Borrower to be a sale of property or
assets of Borrower, provided that such Liens are upon any or all of the property or assets intended to be sold, the income
from such property or assets and/or the proceeds of such property or assets;

 

(11)        Borrower
from creating, incurring or suffering to exist Liens on property or assets financed through tax-exempt municipal obligations, provided
that such Liens are only on the property or assets so financed;

 

(12)        any
extension, renewal, refinancing or replacement (or successive extensions, renewals, refinancings or replacements), in whole or
in part, of any of the foregoing; provided, however, that any such extension, renewal, refinancing or replacement
shall be limited to all or a part of the property or assets (or substitutions therefor) which secured the Lien so extended, renewed,
refinanced or replaced (plus improvements on such property); and

 

(13)        Borrower
from creating, incurring or suffering to exist any other Liens not otherwise permitted by any of the foregoing clauses (1) through
(12) above; provided that the maximum amount of Indebtedness secured by Liens in reliance on this clause (13) shall not
exceed, at the time of and after giving effect to the incurrence of any Indebtedness secured by a Lien in reliance on this clause
(13), an amount equal to the greater of (i) $760,000,000, and (ii) 10% of the excess of Borrower’s consolidated total assets
over Borrower’s consolidated liabilities, as shown on Borrower’s balance sheet for the most recent fiscal quarter for
which financial statements are publicly available in accordance with GAAP at the date of measurement.

 

For the purposes of this Section 6.1, any contract by which title
is retained as security (whether by lease, purchase, title retention agreement or otherwise) for the payment of a purchase price
shall be deemed to be a purchase money Lien.

 

Nothing contained in this Section 6.1 shall prevent
or be deemed to prohibit the creation, assumption or guaranty by Borrower of any Indebtedness not secured by a Lien or the issuance
by the Borrower of any debentures, notes or other evidences of Indebtedness not secured by a Lien, whether in the ordinary course
of business or otherwise.

 

The entry by Borrower into any contract, document,
agreement or instrument (which shall include bank credit facilities and loan agreements), in the ordinary course of business or
otherwise, which contract, document, agreement or instrument may provide for or contain a right of set-off or other similar right
between Borrower and such other party to the contract, document, agreement or instrument shall not result in, or be deemed to constitute,
the creation or incurrence of a “Lien” as such term is used in this Agreement.

 

	 	6.2	Restricted Payments.

 

(a)        Borrower
will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly:

 

(1)        declare
or pay any dividend or make any other payment or distribution on account of Borrower’s or any Guarantor’s Equity Interests
(including any payment in connection with any merger or consolidation involving Borrower or any Guarantor) or to the direct or
indirect holders of Borrower’s or any Guarantor’s Equity Interests in their capacity as such (other than (i) dividends or distributions payable in Qualified
Equity Interests of Borrower and (ii) dividends or distributions payable by any Guarantor to Borrower or any other Guarantor);
or

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(2)        purchase,
redeem or otherwise acquire or retire for value (including in connection with any merger or consolidation involving Borrower) any
Equity Interests of Borrower; or

 

(3)        make
any payment on or with respect to, or purchase, redeem, defease, or otherwise acquire or retire for value, any Junior Debt, except
(x) a payment of interest or principal at the Stated Maturity thereof or (y) a payment, purchase, redemption, defeasance or other
acquisition or retirement for value of any Junior Debt in anticipation of satisfying a sinking fund obligation, principal installment
or final maturity, in each case due within one year of the date of payment, purchase, redemption, defeasance, acquisition or retirement

 

(all such payments and other actions set forth
in these clauses (1) through (3) above being collectively referred to as “Restricted Payments”), unless, at
the time of and after giving effect to such Restricted Payment, no Event of Default has occurred and is continuing or would occur
as a consequence of such Restricted Payment.

 

(b)        Section
6.2(a) will not prohibit the payment of any dividend or the consummation of any irrevocable redemption within 60 days after the
date of declaration of the dividend or giving of the redemption notice, as the case may be, if at the date of declaration or notice,
the dividend or redemption payment would have been permitted under this Agreement.

 

	 	6.3	Financial Covenants.

 

(a)        The
Credit Parties shall not permit the Tier 1 Capital Ratio of the Borrower, as of the last day of any Fiscal Quarter of the Borrower,
to be less than 9.0%.

 

(b)        The
Credit Parties shall not permit the Guarantor Asset Coverage Ratio to be less than the applicable ratio indicated in the ratings
based grid, as set forth below, determined by reference to the Debt Rating to be effective promptly after (i) public announcement
of any change of Borrower’s Debt Rating or (ii) delivery of written notice of any change of Borrower’s Debt Rating
by Borrower to the Administrative Agent.

 

	Covenant 

Level	Debt Rating

(S&P / Moody’s / Fitch)	Minimum Guarantor 

Asset Coverage Ratio
	 	 	 
	I	≥ BBB- / Baa3 / BBB-	1.000 to 1.000
	 	 	 
	II	BB+ / Ba1 / BB+	1.250 to 1.000
	 	 	 
	III	BB / Ba2 / BB	1.375 to 1.000
	 	 	 
	IV	≤ BB- / Ba3 / BB-	1.500 to 1.000

 

In the case where two of the ratings are Equivalent Ratings
and the third rating is not, (i) if the third rating is no more than one rating category (which includes a +, -, 1, 2 or 3 signifier)
different from the Equivalent Ratings, the Covenant Level corresponding to the rating category of the Equivalent Ratings will apply;
(ii) if the third rating is two or more rating categories higher than the Equivalent Ratings, the Covenant Level for the rating
one rating category higher than the Equivalent Ratings will apply; and (iii) if the third rating is two or more rating categories
lower than the Equivalent Ratings, the Covenant Level for the rating one rating category lower than the Equivalent Ratings will
apply.

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In the case where all three ratings are in different rating
categories, the Covenant Level for the middle rating will apply, except that (i) if the highest rating differs from the middle
rating by at least two rating categories more than the lowest rating differs from the middle rating, then the Covenant Level for
the rating one rating category higher than the middle rating will apply, and (ii) if the lowest rating differs from the middle
rating by at least two rating categories more than the highest rating differs from the middle rating, then the Covenant Level for
the rating one rating category lower than the middle rating will apply.

 

Notwithstanding the foregoing, Covenant Level I shall apply
only if at least two ratings are in Covenant Level I.

 

	 	6.4	Merger, Consolidation or Sale of All or Substantially All Assets.

 

(a)        Borrower
will not, directly or indirectly: (1) consolidate or merge with or into another Person (whether or not Borrower is the surviving
corporation); or (2) sell, assign, transfer, convey, lease or otherwise dispose of all or substantially all of the properties or
assets of Borrower and its Subsidiaries, taken as a whole, in one or more related transactions, to another Person unless:

 

(1)        either:
(a) Borrower is the surviving corporation; or (b) the Person formed by or surviving any such consolidation or merger (if other
than Borrower) or to which such sale, assignment, transfer, conveyance or other disposition has been made is a corporation or limited
liability company organized or existing under the laws of the United States, any state of the United States or the District of
Columbia;

 

(2)        the
Person formed by or surviving any such consolidation or merger (if other than Borrower) or the Person to which such sale, assignment,
transfer, conveyance or other disposition has been made expressly assumes all of Borrower’s Obligations under this Agreement
and the other Credit Documents pursuant to agreements reasonably satisfactory to the Administrative Agent; and

 

(3)        immediately
after, and upon giving effect to, such transaction, no Default or Event of Default exists.

 

(b)        Section
6.4(a)(3) will not apply to:

 

(1)        a
merger of Borrower with an Affiliate solely for the purpose of reorganizing Borrower in another jurisdiction; or

 

(2)        any
consolidation or merger, or any sale, assignment, transfer, conveyance, lease or other disposition of assets between or among Borrower
and its Restricted Subsidiaries.

 

(c)        Upon
any consolidation or amalgamation by Borrower with, or merger of Borrower into, any other Person or any conveyance, transfer or
lease of the properties and assets of Borrower as or substantially as an entirety to any Person in accordance with Section 6.4(a)
or 6.4(b), the successor Person formed by such consolidation or amalgamation or into which Borrower is merged, or to which such
conveyance, transfer or lease is made, shall succeed to, and be substituted for, and may exercise every right and power of, Borrower
under this Agreement with the same effect, as if such successor Person had been named as Borrower herein; and thereafter, except
in the case of a lease, the predecessor Person shall be released from all Obligations and covenants under this Agreement and the
other Credit Documents.

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(d)        A
Guarantor may not sell or otherwise dispose of all or substantially all of its assets to another Person (other than to Borrower
or another Guarantor), or consolidate with or merge with or into another Person (other than with or into Borrower or another Guarantor
or unless Borrower or such Guarantor is the surviving Person in such consolidation or merger), in either case, unless:

 

(1)        immediately
prior to, and after giving effect to, such transaction, no Event of Default has occurred and is continuing;

 

(2)        the
Person acquiring the property in any such sale or disposition or the Person formed by or surviving any such consolidation or merger
(if other than the Guarantor, Borrower or another Guarantor) assumes all Obligations of that Guarantor under this Agreement and
the other Credit Documents pursuant to agreements reasonably satisfactory to the Administrative Agent; and

 

(3)        if
the surviving Person is not Borrower or a Guarantor, at the time of the transaction such Guarantor or the surviving Person will
have delivered, or caused to be delivered, to the Administrative Agent, in form and substance reasonably satisfactory to the Administrative
Agent, a certificate of an Authorized Officer of such Guarantor or such surviving Person and an opinion of counsel, each to the
effect that such consolidation, merger, transfer, sale, assignment, conveyance, lease or other transaction and the agreements in
respect thereof comply with this Agreement and that all conditions precedent herein provided for relating to such transaction have
been complied with; provided that this paragraph shall not apply to any Guarantor that has been unconditionally released
and discharged from the Guaranty in accordance with this Agreement.

 

	 	6.5	Negative Pledges.

 

In the event that Borrower or any Restricted
Subsidiary shall incur, amend, extend or refinance any Indebtedness (any such Indebtedness being, “Additional Indebtedness”),
such Additional Indebtedness or any documentation governing such Additional Indebtedness shall not restrict Liens on any Guarantor
Ratio Assets to secure the Obligations (and any refinancing thereof); provided that such Additional Indebtedness or such
documentation may require that, if the Obligations (or any refinancing thereof) become secured by a Lien on any Guarantor Ratio
Assets, such Additional Indebtedness shall be secured by a Lien on such Guarantor Ratio Assets subordinated to the Lien securing
the Obligations (or any refinancing thereof) pursuant to an intercreditor agreement containing customary junior lien provisions
and otherwise in form and substance reasonably satisfactory to the Administrative Agent.

 

SECTION
7.

 

GUARANTY

 

	 	7.1	Guaranty of the Obligations.

 

Subject to the provisions of Section 7.2, Guarantors
jointly and severally hereby irrevocably and unconditionally guaranty to Administrative Agent for the ratable benefit of the Beneficiaries
the due and punctual payment in full of all Obligations, when the same shall become due, whether at Stated Maturity, by
required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due, but for the operation
of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a)) (collectively, the “Guaranteed
Obligations”). Notwithstanding any provision to the contrary of this Agreement or of any other Credit Document, it is
intended that the Guaranties and liens and security interests (if any) granted by Guarantors not constitute a “Fraudulent
Conveyance.” For purposes hereof, “Fraudulent Conveyance” means a fraudulent

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conveyance under section 548 of the Bankruptcy
Code or a fraudulent conveyance or fraudulent transfer under the provisions of any applicable fraudulent conveyance or fraudulent
transfer law or similar law of any state, nation or other governmental unit, as in effect from time to time. The parties hereto
agree that, if the Guaranties or any such liens or security interests would, but for the application of this Section 7.1, constitute
a Fraudulent Conveyance, the Guaranties and each such lien and security interest shall be valid and enforceable only to the maximum
extent that would not cause the Guaranties or such lien or security interest to constitute a Fraudulent Conveyance.

 

	 	7.2	Contribution by Guarantors.

 

All Guarantors desire to allocate among themselves
(collectively, the “Contributing Guarantors”), in a fair and equitable manner, their obligations arising under
this Guaranty. Accordingly, in the event any payment or distribution is made on any date by a Guarantor (a “Funding Guarantor”)
under this Guaranty such that its Aggregate Payments exceed its Fair Share as of such date, such Funding Guarantor shall be entitled
to a contribution from each of the other Contributing Guarantors in an amount sufficient to cause each Contributing Guarantor’s
Aggregate Payments to equal its Fair Share as of such date. “Fair Share” means, with respect to a Contributing
Guarantor as of any date of determination, an amount equal to (a) the ratio of (i) the Fair Share Contribution Amount with respect
to such Contributing Guarantor, to (ii) the aggregate of the Fair Share Contribution Amounts with respect to all Contributing Guarantors
multiplied by, (b) the aggregate amount paid or distributed on or before such date by all Funding Guarantors under this Guaranty
in respect of the obligations guaranteed. “Fair Share Contribution Amount” means, with respect to a Contributing
Guarantor as of any date of determination, the maximum aggregate amount of the obligations of such Contributing Guarantor under
this Guaranty that would not render its obligations hereunder subject to avoidance as a fraudulent transfer or conveyance under
Section 548 of the Bankruptcy Code or any comparable applicable provisions of state law; provided that, solely for purposes
of calculating the Fair Share Contribution Amount with respect to any Contributing Guarantor for purposes of this Section 7.2,
any assets or liabilities of such Contributing Guarantor arising by virtue of any rights to subrogation, reimbursement or indemnification
or any rights to, or obligations of, contribution hereunder shall not be considered as assets or liabilities of such Contributing
Guarantor. “Aggregate Payments” means, with respect to a Contributing Guarantor as of any date of determination,
an amount equal to (1) the aggregate amount of all payments and distributions made on or before such date by such Contributing
Guarantor in respect of this Guaranty (including in respect of this Section 7.2), minus (2) the aggregate amount of all payments
received on or before such date by such Contributing Guarantor from the other Contributing Guarantors as contributions under this
Section 7.2. The amounts payable as contributions hereunder shall be determined as of the date on which the related payment or
distribution is made by the applicable Funding Guarantor. The allocation among Contributing Guarantors of their obligations, as
set forth in this Section 7.2, shall not be construed in any way to limit the liability of any Contributing Guarantor hereunder.
Each Guarantor is a third party beneficiary to the contribution agreement set forth in this Section 7.2.

 

	 	7.3	Payment by Guarantors.

 

Subject to Section 7.2, Guarantors hereby, jointly
and severally, agree, in furtherance of the foregoing and not in limitation of any other right which any Beneficiary may have at
law or in equity against any Guarantor by virtue hereof, that upon the failure of Borrower to pay any of the Guaranteed Obligations
when and as the same shall become due, whether at Stated Maturity, by required prepayment, declaration, acceleration, demand or
otherwise (including amounts that would become due, but for the operation of the automatic stay under Section 362(a) of the Bankruptcy
Code, 11 U.S.C. § 362(a)), Guarantors will, upon demand, pay, or cause to be paid, in Cash, to Administrative Agent, for the
ratable benefit of Beneficiaries, an amount equal to the sum of the unpaid principal amount of all Guaranteed Obligations then
due as aforesaid, accrued and unpaid interest on such Guaranteed Obligations (including

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interest which, but for Borrower becoming the subject of a case
under the Bankruptcy Code, would have accrued on such Guaranteed Obligations, whether or not a claim is allowed against Borrower
for such interest in the related bankruptcy case) and all other Guaranteed Obligations then owed to Beneficiaries as aforesaid.

 

	 	7.4	Liability of Guarantors Absolute.

 

Each Guarantor agrees that its obligations hereunder
are irrevocable, absolute, independent and unconditional and shall not be affected by any circumstance which constitutes a legal
or equitable discharge of a guarantor or surety, other than payment in full of the Guaranteed Obligations. In furtherance of the
foregoing and without limiting the generality thereof, each Guarantor agrees as follows:

 

(a)        this
Guaranty is a guaranty of payment when due and not of collectibility. This Guaranty is a primary obligation of each Guarantor and
not merely a contract of surety;

 

(b)        Administrative
Agent may enforce this Guaranty upon the occurrence and during the continuance of an Event of Default, notwithstanding the existence
of any dispute between Borrower and any Beneficiary with respect to the existence of such Event of Default;

 

(c)        the
obligations of each Guarantor hereunder are independent of the obligations of Borrower and the obligations of any other guarantor
(including any other Guarantor) of the obligations of Borrower, and a separate action or actions may be brought and prosecuted
against such Guarantor, whether or not any action is brought against Borrower or any of such other guarantors, and whether or not
Borrower is joined in any such action or actions;

 

(d)        payment
by any Guarantor of a portion, but not all, of the Guaranteed Obligations shall in no way limit, affect, modify or abridge any
Guarantor’s liability for any portion of the Guaranteed Obligations which has not been paid; and without limiting the generality
of the foregoing, if Administrative Agent is awarded a judgment in any suit brought to enforce any Guarantor’s covenant to
pay a portion of the Guaranteed Obligations, such judgment shall not be deemed to release such Guarantor from its covenant to pay
the portion of the Guaranteed Obligations that is not the subject of such suit, and such judgment shall not, except to the extent
satisfied by such Guarantor, limit, affect, modify or abridge any other Guarantor’s liability hereunder in respect of the
Guaranteed Obligations;

 

(e)        any
Beneficiary, upon such terms as it deems appropriate, without notice or demand and without affecting the validity or enforceability
hereof or giving rise to any reduction, limitation, impairment, discharge or termination of any Guarantor’s liability hereunder,
from time to time may (i) renew, extend, accelerate, increase the rate of interest on, or otherwise change the time, place, manner
or terms of payment of the Guaranteed Obligations; (ii) settle, compromise, release or discharge, or accept or refuse any offer
of performance with respect to, or substitutions for, the Guaranteed Obligations or any agreement relating thereto and/or subordinate
the payment of the same to the payment of any other obligations; (iii) request and accept other guaranties of the Guaranteed Obligations
and take and hold security for the payment hereof or the Guaranteed Obligations; (iv) release, surrender, exchange, substitute,
compromise, settle, rescind, waive, alter, subordinate or modify, with or without consideration, any security for payment of the
Guaranteed Obligations, any other guaranties of the Guaranteed Obligations, or any other obligation of any Person (including any
other Guarantor) with respect to the Guaranteed Obligations; (v) enforce and apply any security, now or hereafter held by or for
the benefit of such Beneficiary in respect hereof or the Guaranteed Obligations, and direct the order or manner of sale thereof,
or exercise any other right or remedy that such Beneficiary may have against any

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such security, in each case, as such Beneficiary, in its
discretion, may determine consistent herewith or any other applicable Credit Document, including foreclosure on any such security
pursuant to one or more judicial or nonjudicial sales, whether or not every aspect of any such sale is commercially reasonable,
and even though such action operates to impair or extinguish any right of reimbursement or subrogation or other right or remedy
of any Guarantor against Borrower or any security for the Guaranteed Obligations; and (vi) exercise any other rights available
to it under the Credit Documents; and

 

(f)        this
Guaranty and the obligations of Guarantors hereunder shall be valid and enforceable and shall not be subject to any reduction,
limitation, impairment, discharge or termination for any reason (other than payment in full of the Guaranteed Obligations), including
the occurrence of any of the following, whether or not any Guarantor shall have had notice or knowledge of any of them: (i) any
failure or omission to assert or enforce, or agreement or election not to assert or enforce, or the stay or enjoining, by order
of court, by operation of law or otherwise, of the exercise or enforcement of, any claim or demand or any right, power or remedy
(whether arising under the Credit Documents, at law, in equity or otherwise) with respect to the Guaranteed Obligations or any
agreement relating thereto, or with respect to any other guaranty of, or security for, the payment of the Guaranteed Obligations;
(ii) any rescission, waiver, amendment or modification of, or any consent to departure from, any of the terms or provisions (including
provisions relating to events of default) hereof, any of the other Credit Documents, any agreement or instrument executed pursuant
thereto, or of any other guaranty or security for the Guaranteed Obligations, in each case, whether or not in accordance with the
terms hereof or such Credit Document, such agreement relating to such other guaranty or security; (iii) the Guaranteed Obligations,
or any agreement relating thereto, at any time being found to be illegal, invalid or unenforceable in any respect; (iv) the application
of payments received from any source (other than payments received pursuant to the other Credit Documents or from the proceeds
of any security for the Guaranteed Obligations, except to the extent such security also serves as collateral for indebtedness,
other than the Guaranteed Obligations) to the payment of indebtedness, other than the Guaranteed Obligations, even though any Beneficiary
might have elected to apply such payment to any part or all of the Guaranteed Obligations; (v) any Beneficiary’s consent
to the change, reorganization or termination of the corporate structure or existence of Borrower or any of its Restricted Subsidiaries
and to any corresponding restructuring of the Guaranteed Obligations; (vi) any failure to perfect or continue perfection of a security
interest in any collateral which secures any of the Guaranteed Obligations; (vii) any defenses, set offs or counterclaims which
Borrower may allege or assert against any Beneficiary in respect of the Guaranteed Obligations, including failure of consideration,
breach of warranty, statute of frauds, statute of limitations, accord and satisfaction and usury; and (viii) any other act or thing
or omission, or delay to do any other act or thing, which may or might in any manner or to any extent vary the risk of any Guarantor,
as an obligor in respect of the Guaranteed Obligations.

 

	 	7.5	Waivers by Guarantors.

 

Each Guarantor hereby waives, for the benefit
of Beneficiaries: (a) any right to require any Beneficiary, as a condition of payment or performance by such Guarantor, to (i)
proceed against Borrower, any other guarantor (including any other Guarantor) of the Guaranteed Obligations or any other Person,
(ii) proceed against or exhaust any security held from Borrower, any such other guarantor or any other Person, (iii) proceed against
or have resort to any balance of any Deposit Account or credit on the books of any Beneficiary in favor of Borrower or any other
Person, or (iv) pursue any other remedy in the power of any Beneficiary whatsoever; (b) any defense arising by reason of the incapacity,
lack of authority or any disability or other defense of Borrower or any other Guarantor, including any defense based on, or arising
out of, the lack of validity or the unenforceability of the Guaranteed Obligations or

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any agreement or instrument relating thereto or by reason of the
cessation of the liability of Borrower or any other Guarantor from any cause, other than payment in full of the Guaranteed Obligations;
(c) any defense based upon any statute or rule of law which provides that the obligation of a surety must be neither larger in
amount nor in other respects more burdensome than that of the principal; (d) any defense based upon any Beneficiary’s errors
or omissions in the administration of the Guaranteed Obligations, except behavior which amounts to bad faith, gross negligence
or willful misconduct; (e) (i) any principles or provisions of law, statutory or otherwise, which are or might be in conflict with
the terms hereof and any legal or equitable discharge of such Guarantor’s obligations hereunder, (ii) the benefit of any
statute of limitations affecting such Guarantor’s liability hereunder or the enforcement hereof, (iii) any rights to set
offs, recoupments and counterclaims, and (iv) promptness, diligence and any requirement that any Beneficiary protect, secure, perfect
or insure any security interest or lien or any property subject thereto; (f) notices, demands, presentments, protests, notices
of protest, notices of dishonor and notices of any action or inaction, including acceptance hereof, notices of default hereunder,
or any agreement or instrument related thereto, notices of any renewal, extension or modification of the Guaranteed Obligations
or any agreement related thereto, notices of any extension of credit to Borrower and notices of any of the matters referred to
in Section 7.4 and any right to consent to any thereof; and (g) any defenses or benefits that may be derived from, or afforded
by, law which limit the liability of or exonerate guarantors or sureties, or which may conflict with the terms hereof.

 

	 	7.6	Guarantors’ Rights of Subrogation, Contribution, etc.

 

Until the Guaranteed Obligations shall have been
indefeasibly paid in full and the Commitments shall have terminated, each Guarantor hereby waives any claim, right or remedy, direct
or indirect, that such Guarantor now has or may hereafter have against Borrower or any other Guarantor or any of its assets in
connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case, whether such claim,
right or remedy arises in equity, under contract, by statute, under common law or otherwise, and including without limitation (a)
any right of subrogation, reimbursement or indemnification that such Guarantor now has, or may hereafter have against Borrower
with respect to the Guaranteed Obligations, (b) any right to enforce, or to participate in, any claim, right or remedy that any
Beneficiary now has or may hereafter have, against Borrower, and (c) any benefit of, and any right to participate in, any collateral
or security now or hereafter held by any Beneficiary. In addition, until the Guaranteed Obligations shall have been indefeasibly
paid in full and the Commitments shall have terminated, each Guarantor shall withhold exercise of any right of contribution such
Guarantor may have against any other guarantor (including any other Guarantor) of the Guaranteed Obligations, including any such
right of contribution, as contemplated by Section 7.2. Each Guarantor further agrees that, to the extent the waiver or agreement
to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution, as set forth herein, is
found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification
such Guarantor may have against Borrower or against any collateral or security, and any rights of contribution such Guarantor may
have against any such other guarantor, shall be junior and subordinate to any rights any Beneficiary may have against Borrower,
to all right, title and interest any Beneficiary may have in any such collateral or security, and to any right any Beneficiary
may have against such other guarantor. If any amount shall be paid to any Guarantor on account of any such subrogation, reimbursement,
indemnification or contribution rights at any time when all Guaranteed Obligations shall not have been finally and indefeasibly
paid in full, such amount shall be held in trust for Administrative Agent, on behalf of Beneficiaries, and shall forthwith be paid
over to Administrative Agent, for the benefit of Beneficiaries, to be credited and applied against the Guaranteed Obligations,
whether matured or unmatured, in accordance with the terms hereof.

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	 	7.7	Subordination of Other Obligations.

 

Any Indebtedness of Borrower or any Guarantor
now or hereafter held by any Guarantor (the “Obligee Guarantor”) is hereby subordinated in right of payment
to the Guaranteed Obligations, and any such indebtedness collected or received by the Obligee Guarantor after an Event of Default
has occurred and is continuing shall be held in trust for Administrative Agent, on behalf of Beneficiaries, and shall forthwith
be paid over to Administrative Agent, for the benefit of Beneficiaries, to be credited and applied against the Guaranteed Obligations,
but without affecting, impairing or limiting in any manner the liability of the Obligee Guarantor under any other provision hereof.

 

	 	7.8	Continuing Guaranty.

 

This Guaranty is a continuing guaranty and shall
remain in effect until all of the Guaranteed Obligations shall have been indefeasibly paid in full and the Commitments shall have
terminated. Each Guarantor hereby irrevocably waives any right to revoke this Guaranty as to future transactions giving rise to
any Guaranteed Obligations.

 

	 	7.9	Authority of Guarantors or Borrower.

 

It is not necessary for any Beneficiary to inquire
into the capacity or powers of any Guarantor or Borrower or the officers, directors or any agents acting or purporting to act on
behalf of any of them.

 

	 	7.10	Financial Condition of Borrower.

 

Any Credit Extension may be made to Borrower
or continued from time to time, without notice to, or authorization from, any Guarantor, regardless of the financial or other condition
of Borrower at the time of any such grant or continuation. No Beneficiary shall have any obligation to disclose or discuss with
any Guarantor its assessment, or any Guarantor’s assessment, of the financial condition of Borrower. Each Guarantor has adequate
means to obtain information from Borrower on a continuing basis concerning the financial condition of Borrower and its ability
to perform its obligations under the Credit Documents, and each Guarantor assumes the responsibility for being and keeping informed
of the financial condition of Borrower and of all circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations.
Each Guarantor hereby waives and relinquishes any duty on the part of any Beneficiary to disclose any matter, fact or thing relating
to the business, operations or conditions of Borrower, now known, or hereafter known, by any Beneficiary.

 

	 	7.11	Bankruptcy, etc.

 

(a)        So
long as any Guaranteed Obligations remain outstanding, no Guarantor shall, without the prior written consent of Administrative
Agent acting pursuant to the instructions of Requisite Lenders, commence or join with any other Person in commencing any bankruptcy,
reorganization or insolvency case or proceeding against Borrower or any other Guarantor. The obligations of Guarantors hereunder
shall not be reduced, limited, impaired, discharged, deferred, suspended or terminated by any case or proceeding, voluntary or
involuntary, involving the bankruptcy, insolvency, receivership, reorganization, liquidation or arrangement of Borrower or any
other Guarantor or by any defense which Borrower or any other Guarantor may have by reason of the order, decree or decision of
any court or administrative body resulting from any such proceeding.

 

(b)        Each
Guarantor acknowledges and agrees that any interest on any portion of the Guaranteed Obligations which accrues after the commencement
of any case or proceeding referred to in

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 clause (a) above (or, if interest on any portion of the Guaranteed Obligations ceases
to accrue by operation of law by reason of the commencement of such case or proceeding,
such interest as would have accrued on such portion of the Guaranteed Obligations, if such case or proceeding had not been commenced)
shall be included in the Guaranteed Obligations because it is the intention of Guarantors and Beneficiaries that the Guaranteed
Obligations which are guaranteed by Guarantors pursuant hereto should be determined without regard to any rule of law or order
which may relieve Borrower of any portion of such Guaranteed Obligations. Guarantors will permit any trustee in bankruptcy, receiver,
debtor in possession, assignee for the benefit of creditors or similar person to pay Administrative Agent, or allow the claim of
Administrative Agent in respect of, any such interest accruing after the date on which such case or proceeding is commenced.

 

(c)        In
the event that all or any portion of the Guaranteed Obligations are paid by Borrower, the obligations of Guarantors hereunder shall
continue and remain in full force and effect or be reinstated, as the case may be, in the event that all or any part of such payment(s)
are rescinded or recovered, directly or indirectly, from any Beneficiary as a preference, fraudulent transfer or otherwise, and
any such payments which are so rescinded or recovered shall constitute Guaranteed Obligations for all purposes hereunder.

 

	 	7.12	Discharge of Guaranty Upon Sale of Guarantor.

 

If all of the Capital Stock or all or substantially
all of the assets of any Guarantor or any of its successors in interest hereunder shall be sold or otherwise disposed of (including
by merger or consolidation) in accordance with the terms and conditions hereof, the Guaranty of such Guarantor or such successor
in interest, as the case may be, hereunder shall automatically be discharged and released without any further action by any Beneficiary
or any other Person, effective as of the time of such asset sale or other disposition.

 

	 	7.13	Taxes.

 

The provisions of Section 2.16 shall apply, mutatis
mutandis, to the Guarantors and payments thereby.

 

SECTION
8.

 

EVENTS OF DEFAULT

 

	 	8.1	Events of Default.

 

If any one or more of the following conditions
or events shall occur:

 

(a)        Failure
to Make Payments When Due. Failure by Borrower to (i) pay when due the principal of, and premium, if any, on, any Loan or any
L/C Obligation, whether at Stated Maturity, by acceleration or otherwise; (ii) pay when due any installment of principal of any
Loan, by mandatory prepayment or otherwise; (iii) pay within three (3) Business Days of the date due any interest on any Loan or
any L/C Obligation or any fee or any other amount due hereunder; or (iv) deposit, within three (3) Business Days of the date required,
any funds as Cash Collateral in respect of L/C Obligations, when required by this Agreement; or

 

(b)        Default
in Other Agreements. (i) Failure of Borrower or any Restricted Subsidiary to pay when due any principal of, or interest on,
or any other amount payable in respect of, one or more items of Indebtedness (other than Indebtedness referred to in Section 8.1(a))
in each case, beyond 

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the grace period, if any, provided therefor; or (ii) breach or
default by Borrower or any Restricted Subsidiary with respect to any other material term of (1) one or more items of
Indebtedness, or (2) any loan agreement, mortgage, indenture or other agreement relating to such item(s) of Indebtedness, in
each case, beyond the grace period, if any, provided therefor, if the effect of such breach or default is to cause that
Indebtedness to become or be declared due and payable prior to its Stated Maturity or the Stated Maturity of any underlying
obligation, or prior to the stated term of such derivative transaction, as the case may be; and, in the case of clauses (i)
and (ii), the aggregate principal amount or termination value, as applicable, of such Indebtedness owed by such Credit Party
or such Restricted Subsidiary is greater than the Threshold Amount; or

 

(c)        Breach
of Certain Covenants. Failure of any Credit Party to perform or comply with any term or condition contained in (i) Section
6.3(a) or (b) and such failure continues for five (5) Business Days or (ii) Section 5.1, Section 5.2 (with respect to the legal
existence of Borrower), Section 5.12, Section 5.13 or Section 6 (other than Section 6.3(a) or (b)); or

 

(d)        Breach
of Representations, etc. (i) Any representation, warranty, certification or other statement made by any Credit Party in this
Agreement shall be false in any material respect as of the date made; or (ii) any representation, warranty, certification or other
statement made or deemed made by any Credit Party in any Credit Document (other than this Agreement) or in any statement or certificate
at any time given by any Credit Party in writing pursuant hereto or thereto or in connection herewith or therewith shall be false
as of the date made or deemed made, to the extent (other than in the case of any representation, warranty, certification or other
statement is already qualified as to “materiality” or similar standard), as could reasonably be expected to have a
Material Adverse Effect; or

 

(e)        Other
Defaults Under Credit Documents. Any Credit Party shall default in the performance of, or compliance with, any term contained
herein or any of the other Credit Documents, other than any such term referred to in any other Section of this Section 8.1, and
such default shall not have been remedied or waived within thirty (30) days after the earlier of (i) any Relevant Officer of such
Credit Party becoming aware of such default, or (ii) receipt by any Relevant Officer of Borrower of notice from Administrative
Agent or any Lender of such default; or

 

(f)        Involuntary
Bankruptcy; Appointment of Receiver, etc. (i) A court of competent jurisdiction shall enter a decree or order for relief in
respect of Borrower or any Significant Subsidiary in an involuntary case under the Bankruptcy Code or under any other applicable
bankruptcy, insolvency, reorganization, liquidation or similar law now or hereafter in effect, which decree or order is not stayed;
or any other similar relief shall be granted under any applicable federal or state law; or (ii) an involuntary case shall be commenced
against Borrower or any Significant Subsidiary under the Bankruptcy Code or under any other applicable bankruptcy, insolvency,
reorganization, liquidation or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the
premises for the appointment of a receiver, liquidator, sequestrator, trustee, conservator, custodian or other officer having similar
powers over Borrower or any Significant Subsidiary, or over all or a substantial part of its property, shall have been entered;
or there shall have occurred the involuntary appointment of an interim receiver, trustee, conservator or other custodian of Borrower
or any Significant Subsidiary for all or a substantial part of its property, and any such event described in this clause (ii) shall
continue for sixty (60) days without having been dismissed, bonded or discharged; or

 

(g)        Voluntary
Bankruptcy; Appointment of Receiver, etc. (i) Borrower or any Significant Subsidiary shall seek to have an order for relief
entered with respect to it or shall commence a voluntary case under the Bankruptcy Code or under any other applicable bankruptcy,
insolvency, reorganization, liquidation or similar law now or hereafter in effect, or shall consent to the entry of an order for
relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case,

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under any such law, or shall consent to the appointment
of or taking possession by a receiver, trustee, conservator or other custodian for all or a substantial part of its property; or
Borrower or any Significant Subsidiary shall make any assignment for the benefit of creditors; (ii) Borrower or any Significant
Subsidiary shall be unable, or shall fail generally, or shall admit in writing its inability, to pay its debts generally, as such
debts become due; or (iii) there shall have occurred the voluntary appointment of a receiver, trustee, conservator or other custodian
of Borrower or any Significant Subsidiary; or

 

(h)       Claims,
Judgments and Attachments. Any money judgment, writ or warrant of attachment or similar process involving, in the aggregate,
at any time, an amount in excess of the Threshold Amount (in either case, to the extent not fully covered by insurance (less any
deductible) as to which a solvent and unaffiliated third party insurance company has acknowledged coverage) shall be entered or
filed against Borrower or any Significant Subsidiary or any of their respective assets and shall remain undischarged, unvacated,
unbonded or unstayed for a period of thirty (30) days (or, in any event, later than the date that enforcement proceedings shall
have been commenced by any creditor upon such judgment order or five (5) days prior to the date of any proposed sale thereunder);
or

 

(i)        Dissolution.
Any order, judgment or decree shall be entered against Borrower or any Significant Subsidiary decreeing the dissolution or split
up of such Person and such order shall remain undischarged or unstayed for a period in excess of thirty (30) days; or

 

(j)        Employee
Benefit Plans. There shall occur one or more ERISA Events which, individually or in the aggregate, results in, or might reasonably
be expected to result in, liability of Borrower, any of its Restricted Subsidiaries or any of their respective ERISA Affiliates
in excess of the Threshold Amount during the term hereof; or

 

(k)       Change
of Control. A Change of Control shall occur; or

 

(l)        Guaranties
and other Credit Documents. At any time after the execution and delivery thereof, (i) any Credit Party shall repudiate its
obligations under any Credit Document, other than, in the case of a Guarantor, following its release from the Guaranty, (ii) the
Guaranty for any reason, other than the satisfaction in full of all Obligations, shall cease to be in full force and effect in
any material respect with respect to any Guarantor (other than in accordance with its terms) or shall be declared to be null and
void, or (iii) any Credit Document (other than the Guaranty) ceases to be in full force and effect (other than by reason of the
satisfaction in full of the Obligations in accordance with the terms hereof) or shall be declared null and void; or

 

(m)       CIT
Bank. CIT Bank (a) ceases to accept deposits on the order of a bank regulatory authority, (b) ceases to be an insured bank
under the Federal Deposit Insurance Act, (c) is required to submit a capital restoration plan to the Office of the Comptroller
of the Currency (the “OCC”) that would reasonably be expected to result in a Material Adverse Effect on the
Borrower’s ability to meet its Obligations, or (d) fails to comply with any formal order of a bank regulatory authority which
failure would reasonably be expected to have a Material Adverse Effect;

 

THEN, (1) upon the occurrence of any Event of Default described
in Section 8.1(f) or 8.1(g) with respect to Borrower, automatically, and (2) upon the occurrence of any other Event of Default,
upon notice to Borrower by the Administrative Agent (given at the direction of the Requisite Lenders) with respect to any or all
of the following, (A) the Commitments shall immediately terminate; (B) each of the following shall immediately become due and payable,
in each case, without presentment, demand, protest or other requirements of any kind, all of which are hereby expressly waived
by each Credit Party: (I) the fees, expenses, indemnities and other amounts (including fees, charges and disbursements of counsel)
then due to the Administrative Agent and the other Beneficiaries,
including without limitation, amounts payable

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under Sections 2.12, 2.14, 2.15, 2.16 and 10.2, (II) the unpaid
principal amount of, and accrued interest on, the Loans, and (III) all other Obligations; (C) Borrower shall Cash Collateralize
the L/C Obligations (in an amount equal to the Applicable Cash Collateralization Percentage thereof); and (D) upon the written
direction of the Requisite Lenders, all LIBOR Rate Loans then outstanding shall be immediately converted into Base Rate Loans (it
being understood that Borrower shall be liable for any amounts payable under Section 2.14(d) in connection with such conversion).

 

SECTION
9.

 

AGENTS

 

	 	9.1	Appointment of Administrative Agent, Arrangers and Other Agents.

 

Merrill Lynch, Pierce, Fenner & Smith Incorporated,
Barclays Bank PLC, Credit Suisse Securities (USA) LLC, J.P. Morgan Chase Bank, N.A., and Morgan Stanley Senior Funding, Inc. are
hereby appointed the Arrangers hereunder, and each Lender and the L/C Issuer hereby authorize Merrill Lynch, Pierce, Fenner &
Smith Incorporated, Barclays Bank PLC, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, and Morgan Stanley Senior
Funding, Inc. to act as the Arrangers in accordance with the terms hereof and the other Credit Documents. Bank of America is hereby
appointed the Administrative Agent hereunder and under the other Credit Documents and each Lender and the L/C Issuer hereby authorize
Bank of America to act as the Administrative Agent in accordance with the terms hereof and the other Credit Documents. Barclays
Bank PLC, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and Morgan Stanley Senior Funding, Inc. are hereby appointed
the Syndication Agents hereunder, and each Lender hereby authorizes Barclays Bank PLC, Credit Suisse Securities (USA) LLC, J.P.
Morgan Securities LLC and Morgan Stanley Senior Funding, Inc. to act as the Syndication Agents in accordance with the terms hereof
and the other Credit Documents. The Administrative Agent hereby agrees to act in its capacity as such upon the express conditions
contained herein and the other Credit Documents, as applicable. The provisions of this Section 9 (other than as expressly provided
herein) are solely for the benefit of the Administrative Agent, the L/C Issuer and the Lenders and no Credit Party shall have any
rights as a third party beneficiary of any of the provisions of this Section 9 (other than as expressly provided herein). Notwithstanding
any other provision of this Agreement or any provision of any other Credit Document, the Arrangers and the Other Agents are named
as such for recognition purposes only, and in their respective capacities as such shall have no duties, responsibilities or liabilities
with respect to this Agreement or any other Credit Document; it being understood and agreed that the Arrangers and the Other Agents
shall be entitled to all exculpatory provisions and indemnification and reimbursement rights in favor of the Administrative Agent
provided herein and in the other Credit Documents and all of the other benefits of this Section 9 (notwithstanding, for the avoidance
of doubt, whether or not the Arrangers or the Other Agents are specifically referenced in connection with the enumeration of such
rights or benefits). Without limitation of the foregoing, no Arranger or Other Agent shall, by reason of this Agreement or any
other Credit Document, have any fiduciary relationship in respect of any Lender, Credit Party or any other Person.

 

	 	9.2	Powers and Duties.

 

Each Lender and the L/C Issuer irrevocably authorize
the Administrative Agent to take such action on such Lender’s or the L/C Issuer’s behalf and to exercise such powers,
rights and remedies hereunder and under the other Credit Documents, as are specifically delegated or granted to the Administrative
Agent by the terms hereof and thereof, together with such powers, rights and remedies as are reasonably incidental thereto. The
Administrative Agent shall have only those duties and responsibilities that are expressly specified herein and the other Credit
Documents. The Administrative Agent may exercise such powers, rights and remedies, and perform such duties, by or through its agents

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or employees. The Administrative Agent shall
not have, by reason hereof or any of the other Credit Documents, a fiduciary relationship or other implied duties in respect of
any Lender; and nothing herein or in any of the other Credit Documents, expressed or implied, is intended to, or shall be so construed
as to, impose upon the Administrative Agent any obligations in respect hereof or any of the other Credit Documents, except as expressly
set forth herein or therein. Without limiting the generality of the foregoing sentence, the use of the term “agent”
in this Agreement and in the other Credit Documents with reference to the Administrative Agent is not intended to connote any fiduciary
or other implied (or express) obligations arising under the agency doctrine of any applicable Law. Instead, such term is used merely
as a matter of market custom, and is intended to create or reflect only an administrative relationship between independent contracting
parties.

 

	 	9.3	General Immunity.

 

(a)     No
Responsibility for Certain Matters. The Administrative Agent shall not be responsible to any Lender or the L/C Issuer for the
execution, effectiveness, genuineness, validity, enforceability, collectibility or sufficiency hereof or of any other Credit Document
or for any representations, warranties, recitals or statements made herein or therein or made in any written or oral statements
or in any financial or other statements, instruments, reports or certificates or any other documents furnished or made by the Administrative
Agent to Lenders or by or on behalf of any Credit Party to any Other Agent, any Lender or the L/C Issuer in connection with the
Credit Documents and the transactions contemplated thereby or for the financial condition or business affairs of any Credit Party
or any other Person liable for the payment of any Obligations, and the Administrative Agent shall not be required to ascertain
or inquire as to the performance or observance of any of the terms, conditions, provisions, covenants or agreements contained in
any of the Credit Documents or as to the use of the proceeds of the Loans or as to the existence or possible existence of any Event
of Default or Default or as to the satisfaction of any condition set forth in Section 3 or elsewhere herein (other than to confirm
receipt of items expressly required to be delivered to the Administrative Agent) or to inspect the properties, books or records
of Borrower or any of its Subsidiaries or to make any disclosures with respect to the foregoing. No requirement in any Credit Document
for a Credit Party to provide evidence, opinion, information, documentation or other material requested or required by the Administrative
Agent shall be construed to mean that the Administrative Agent has any responsibility to request or require such evidence, opinion,
information, documentation or other material. Anything contained herein to the contrary notwithstanding, Administrative Agent shall
not have any liability arising from confirmations of the amount of outstanding Loans or the Letters of Credit.

 

(b)     Exculpatory
Provisions. None of the Administrative Agent, the Arrangers or the Other Agent or their officers, partners, directors, employees
or agents shall be liable to the Lenders (i) for any action taken or omitted by the Administrative Agent, the Arranger or Other
Agent (A) under or in connection with any of the Credit Documents except to the extent caused by such Administrative Agent’s,
Arranger’s or Other Agent’s gross negligence or willful misconduct, as determined by a final, non-appealable judgment
of a court of competent jurisdiction or (B) with the consent, or at the request, of the Requisite Lenders (or, if so specified
by this Agreement, all Lenders or any other instructing group of Lenders specified by this Agreement) or (ii) for any failure of
any Credit Party to perform its obligations under this Agreement or any other Credit Document. None of the Administrative Agent,
the Arrangers or the Other Agent shall, except as expressly set forth herein and in the other Credit Documents, have any duty to
disclose, or be liable for the failure to disclose, any information relating to Borrower or any of its Affiliates that is communicated
to, or obtained by, the Administrative Agent, or any Arranger or Other Agent or any of their Affiliates in any capacity. The Administrative
Agent shall be entitled to refrain from any act or the taking of any action (including the failure to take an action) in connection
herewith or with any of the other Credit Documents or from the exercise of any power, discretion or authority vested in it hereunder
or thereunder, unless and until the Administrative Agent shall have received instructions in

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respect thereof from Requisite Lenders (or such
other Lenders, as may be required to give such instructions under Section 10.5) and, upon receipt of such instructions from Requisite
Lenders (or such other Lenders, as the case may be), the Administrative Agent shall be entitled to act or (where so instructed)
refrain from acting, or to exercise such power, discretion or authority, in accordance with such instructions and shall not be
required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability
or that is contrary to any Credit Document or applicable Law. Without prejudice to the generality of the foregoing, (i) the Administrative
Agent shall be entitled to rely, and shall be fully protected in relying, upon any communication, instrument or document believed
by it to be genuine and correct and to have been signed or sent by the proper Person or Persons, and shall be entitled to rely,
and shall be protected in relying, on opinions and judgments of attorneys (who may be attorneys for Borrower and its Subsidiaries),
accountants, experts and other professional advisors selected by it; and (ii) no Lender shall have any right of action whatsoever
against the Administrative Agent as a result of the Administrative Agent acting or (where so instructed) refraining from acting
hereunder or under any of the other Credit Documents in accordance with the instructions of Requisite Lenders (or such other Lenders,
as may be required to give such instructions under Section 10.5).

 

(c)     Notice
of Default. The Administrative Agent shall not be deemed to have knowledge of any Default or Event of Default, until written
notice describing such Default or Event of Default is given to any Agent by a Credit Party, the L/C Issuer or a Lender. In the
event that the Administrative Agent shall receive such a notice, the Administrative Agent shall give notice thereof to the Lenders;
provided that failure to give such notice shall not result in any liability on the part of the Administrative Agent.

 

(d)     None
of the Lenders or the L/C Issuer shall assert, and each Lender and the L/C Issuer hereby waive, any claim against the Administrative
Agent, including any predecessor agent, its sub-agents and their respective Affiliates in respect of any action taken, or omitted
to be taken, by any of them, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to
direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Credit Document or any
agreement or instrument contemplated hereby or thereby, the transactions contemplated hereby or thereby, any Loan or the use of
the proceeds thereof.

 

(e)     No
provision of this Agreement, any other Credit Document or any agreement or instrument contemplated hereby or thereby, or the transactions
contemplated hereby or thereby shall require the Administrative Agent to: (i) expend or risk its own funds or provide indemnities
in the performance of any of its duties hereunder or the exercise of any of its rights or power, or (ii) otherwise incur any financial
liability in the performance of its duties hereunder or the exercise of any of its rights or power, except for such expense, indemnity
or liability, if any, arising out of the Administrative Agent’s gross negligence or willful misconduct in the performance
of its duties hereunder or under any other Credit Document, as determined by a judgment of a court of competent jurisdiction.

 

(f)     The
Administrative Agent, including any predecessor agent, its sub-agents and their respective Affiliates, shall not be responsible
for any action taken, or omitted to be taken, by the Administrative Agent with respect to (i) perfecting, maintaining, monitoring,
preserving or protecting the security interest or lien granted under this Agreement, any other Credit Document or any agreement
or instrument contemplated hereby or thereby or (ii) the filing, re-filing, recording, re-recording or continuing of any document,
financing statement, mortgage, assignment, notice, instrument of further assurance or other instrument in any public office at
any time or times. The actions described in items (i) and (ii) shall be the sole responsibility of the Credit Parties.

 

(g)     The
Administrative Agent shall not be required to qualify in any jurisdiction in which it is not presently qualified to perform its
obligations as Administrative Agent.

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(h)    
The Administrative Agent may perform any and all of its duties and exercise its rights and powers under this Agreement or
under any other Credit Document by or through any one or more sub-agents appointed by it. Each of the Administrative Agent and
any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Affiliates.
The exculpatory, indemnification and other provisions of this Section 9 shall apply to any of the Affiliates of the Administrative
Agent and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein
as well as activities as the Administrative Agent. All of the rights, benefits, and privileges (including the exculpatory and indemnification
provisions) of this Section 9 shall apply to any such sub-agent and to the Affiliates of any such sub-agent, and shall apply to
their respective activities as sub-agent, as if such sub-agent and Affiliates were named herein. Notwithstanding anything herein
to the contrary, with respect to each sub-agent appointed by the Administrative Agent, (i) such sub-agent shall be a third party
beneficiary under this Agreement with respect to all such rights, benefits and privileges (including exculpatory rights and rights
to indemnification) and shall have all of the rights and benefits of a third party beneficiary, including an independent right
of action to enforce such rights, benefits and privileges (including exculpatory rights and rights to indemnification) directly,
without the consent or joinder of any other Person, against any or all of Credit Parties and the Lenders, (ii) such rights, benefits
and privileges (including exculpatory rights and rights to indemnification) shall not be modified or amended without the consent
of such sub-agent, and (iii) such sub-agent shall only have obligations to the Administrative Agent and not to any Credit Party,
Lender or any other Person and no Credit Party, Lender or any other Person shall have any rights, directly or indirectly, as a
third party beneficiary or otherwise, against such sub-agent.

 

	 	9.4	Agents Entitled to Act as Lender.

 

The agency hereby created shall in no way impair
or affect any of the rights and powers of, or impose any duties or obligations upon, the Administrative Agent, in its individual
capacity as a Lender hereunder. With respect to its Loans and participations in the Letters of Credit, the Administrative Agent
shall have the same rights and powers hereunder, in its capacity as a Lender, as any other Lender and may exercise the same, as
if it were not performing the duties and functions delegated to it hereunder, and the term “Lender” shall, unless the
context clearly otherwise indicates, include the Administrative Agent, in its individual capacity. The Administrative Agent and
its Affiliates may accept deposits from, lend money to, own securities of, and generally engage in any kind of banking, trust,
financial advisory or other business with Borrower or any of its Affiliates as if it were not performing the duties specified herein,
and may accept fees and other consideration from Borrower for services in connection herewith and otherwise without having to account
for the same to Lenders. The Lenders acknowledge that, pursuant to such activities, the Administrative Agent or its Affiliates
may receive information regarding any Credit Party or any Affiliate of any Credit Party (including information that may be subject
to confidentiality obligations in favor of such Credit Party or such Affiliate) and acknowledge that the Administrative Agent and
its Affiliates shall be under no obligation to provide such information to them. In addition, pursuant to such activities, the
Administrative Agent or their Affiliates may have economic interests that could conflict with the Lenders.

 

	 	9.5	Lenders’ Representations, Warranties and Acknowledgment.

 

(a)     Each
of the Lenders and the L/C Issuer represents and warrants that it has made its own independent investigation of the financial condition
and affairs of Borrower and its Subsidiaries in connection with Credit Extensions hereunder and that it has made and shall continue
to make its own appraisal of the creditworthiness of Borrower and its Subsidiaries. The Administrative Agent shall not have any
duty or responsibility, either initially or on a continuing basis, to make any such investigation or any such appraisal on behalf
of Lenders or to provide any Lender with any credit or other information with respect thereto, whether coming into its possession
before the making of the Loans or at any time or

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times thereafter, and the Administrative Agent
shall not have any responsibility with respect to the accuracy of or the completeness of any information provided to Lenders. Each
Lender agrees that it will not claim that any Lender has rendered advisory services of any nature or respect or owes a fiduciary
or similar duty to any Lender in connection with this Agreement or the transactions contemplated hereby.

 

(b)     Each
Lender, by delivering its signature page to this Agreement or an Assignment Agreement or by the funding of any Credit Extension,
shall be deemed to have acknowledged receipt of, and consented to and approved, each Credit Document and each other document required
to be approved by the Administrative Agent or Lenders, as applicable, on the Closing Date or as of the date of such Credit Extension.

 

(c)     Each
Lender represents and warrants that, as of the Closing Date, or such later date on which such Lender delivers a signature page
to an Assignment Agreement, Borrower has provided such Lender with adequate access to financial and other information concerning
Borrower and its Subsidiaries and such Lender has been able to obtain from Borrower any additional information necessary to make
an informed decision regarding the creditworthiness of Borrower and its Subsidiaries.

 

	 	9.6	Right to Indemnity.

 

Each Lender, in proportion to its Applicable
Percentage, severally, agrees to indemnify the Administrative Agent and the L/C Issuer, to the extent that the Administrative Agent
or the L/C Issuer shall not have been reimbursed by any Credit Party (and without limiting its obligation to do so), for and against
any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses (including counsel
fees and disbursements) or disbursements of any kind or nature whatsoever which may be imposed on, incurred by, or asserted against,
the Administrative Agent or the L/C Issuer in exercising its powers, rights and remedies or performing its duties hereunder or
under the other Credit Documents or otherwise, in its capacity as the Administrative Agent or the L/C Issuer in any way relating
to or arising out of this Agreement or the other Credit Documents; provided that no Lender shall be liable for any portion
of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements resulting
from the Administrative Agent’s or the L/C Issuer’s, as applicable, gross negligence or willful misconduct, as determined
by a final, non-appealable judgment of a court of competent jurisdiction. If any indemnity furnished to the Administrative Agent
or the L/C Issuer for any purpose shall, in the opinion of the Administrative Agent or the L/C Issuer, be insufficient or become
impaired, the Administrative Agent or the L/C Issuer may call for additional indemnity and cease, or not commence, to do the acts
indemnified against, until such additional indemnity is furnished; provided that in no event shall this sentence require
any Lender to indemnify the Administrative Agent or the L/C Issuer against any liability, obligation, loss, damage, penalty, action,
judgment, suit, cost, expense or disbursement in excess of such Lender’s Applicable Percentage thereof; and provided,
further, that this sentence shall not be deemed to require any Lender to indemnify the Administrative Agent or the L/C Issuer
against any liability, obligation, loss, damage, penalty, action, judgment, suit, cost, expense or disbursement described in the
proviso in the immediately preceding sentence.

 

	 	9.7	Successor Administrative Agent.

 

(a)    Administrative
Agent shall have the right to resign at any time by giving prior written notice thereof to the Lenders and Borrower and Administrative
Agent may be removed at any time after such notice of resignation from the Administrative Agent by an instrument or concurrent
instruments in writing delivered to Borrower and Administrative Agent and signed by Requisite Lenders. The Administrative Agent
shall have the right, but not the obligation, to appoint a financial institution to act as Administrative Agent hereunder, subject
to the reasonable satisfaction of the Requisite Lenders and, so long as no Event of Default shall have occurred and be continuing,
Borrower (such consent by

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Borrower not to be unreasonably withheld, conditioned
or delayed; it being understood that Borrower will be deemed to have provided such consent, in the event that it shall have failed
to respond to a consent request made in writing and delivered in accordance with Section 10.1 within 30 days of such delivery).
If Administrative Agent provides notice of its resignation, Administrative Agent’s resignation shall become effective on
the 10th Business Day after such notice of resignation. Upon any such notice of resignation or any such removal, if a successor
Administrative Agent has not already been appointed by the retiring Administrative Agent, Requisite Lenders shall have the right,
upon five (5) Business Days’ notice to Borrower, to appoint a successor Administrative Agent, subject to, so long as no Event
of Default shall have occurred and be continuing, the consent of Borrower to such appointment (such consent by Borrower not to
be unreasonably withheld, conditioned or delayed; provided that in no event shall any successor Administrative Agent be
a Defaulting Lender; it being understood that Borrower will be deemed to have provided such consent, in the event that it shall
have failed to respond to a consent request made in writing and delivered in accordance with Section 10.1 within 30 days of such
delivery). If neither Requisite Lenders nor Administrative Agent have appointed a successor Administrative Agent, then the Requisite
Lenders shall be deemed to have succeeded to, and become vested with, all the rights, powers, privileges and duties of the retiring
Administrative Agent (except that in the case of any collateral security held by the Administrative Agent on behalf of the Lenders
or the L/C Issuer under any of the Credit Documents, the retiring or removed Administrative Agent shall continue to hold such collateral
security until such time as a successor Administrative Agent is appointed). Upon the acceptance of any appointment as Administrative
Agent hereunder by a successor Administrative Agent, that successor Administrative Agent shall thereupon succeed to, and become
vested with, all the rights, powers, privileges and duties of the retiring or removed Administrative Agent. The fees payable by
Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor, unless otherwise agreed between
Borrower and such successor. After any retiring or removed Administrative Agent’s resignation or removal hereunder as Administrative
Agent, the provisions of this Section 9 shall inure to its benefit as to any actions taken or omitted to be taken by it (i) while
it was Administrative Agent hereunder (but only in its capacity as Administrative Agent) and (ii) after such resignation or removal
for as long as it continues to act in any capacity hereunder or under the other Credit Documents (but only to the extent such acts
would customarily be undertaken by the Administrative Agent), including in respect of any actions taken in connection with transferring
the agency to any successor Administrative Agent.

 

(b)     Any
resignation by Bank of America as Administrative Agent pursuant to this Section shall also constitute its resignation as the L/C
Issuer. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder (unless the Borrower and such
successor agree otherwise), (i) such successor shall succeed to, and become vested with, all of the rights, powers, privileges
and duties of the retiring L/C Issuer, (ii) the retiring L/C Issuer shall be discharged from all of its duties and obligations
hereunder or under the other Credit Documents, and (iii) the successor L/C Issuer shall issue letters of credit and bankers’
acceptances in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements,
reasonably satisfactory to the retiring L/C Issuer, to effectively assume the obligations of the retiring L/C Issuer with respect
to such Letters of Credit. After Bank of America’s retirement hereunder as an L/C Issuer, the provisions of the Credit Documents
shall inure to its benefit as to any actions taken or omitted to be taken by it with respect to, or in connection with, any Letters
of Credit issued by it.

 

	 	9.8	Proofs of Claim.

 

In case of the pendency of any proceeding under
the Bankruptcy Code or other applicable Law or any other judicial proceeding relative to Borrower, the Administrative Agent (irrespective
of whether the principal of any Loan shall then be due and payable, as herein expressed, or by declaration or otherwise, and irrespective
of whether the Administrative Agent shall have made any demand on Borrower) shall be entitled and empowered, by intervention in
such proceeding or otherwise (a) to file

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and prove a claim for the whole amount of the
principal and interest owing and unpaid in respect of the Loans and all other Obligations that are owing and unpaid and to file
such other documents, as may be necessary or advisable in order to have the claims of the Lenders and the other Beneficiaries (including
fees, disbursements and other expenses of counsel) allowed in such judicial proceeding and (b) to collect and receive any monies
or other property payable or deliverable on any such claims and to distribute the same. Any custodian, receiver, assignee, trustee,
liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender and the
other Beneficiaries to make such payments to the Administrative Agent. Nothing contained herein shall be deemed to authorize
the Administrative Agent to authorize, or consent to, or accept or adopt, on behalf of any Lender or other Beneficiary, any plan
of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or other Beneficiary
to authorize the Administrative Agent to vote in respect of the claim of such Lender or such other Beneficiary in any such proceeding.

 

	 	9.9	Arrangers and Other Agents.

 

Except as otherwise set forth herein, no Arranger
or Other Agent shall have any right, power, obligation, liability, responsibility or duty under this Agreement (or any other Credit
Document), other than those applicable (to the extent such Arranger or Other Agent is a Lender) to all Lenders as such. Without
limiting the foregoing, no Arranger or Other Agent shall have or be deemed to have any fiduciary relationship with any Lender.
Each Lender acknowledges that it has not relied, and will not rely, on any Arranger or Other Agent in deciding to enter into this
Agreement and each other Credit Document to which it is a party or in taking, or not taking, action hereunder or thereunder.

 

	 	9.10	Tax Indemnification.

 

To the extent required by any applicable Law,
Administrative Agent may deduct or withhold from any payment to any Lender an amount equivalent to any applicable withholding tax.
If any Governmental Authority asserts a claim that Administrative Agent did not properly withhold tax from amounts paid to, or
for the account of, any Lender (because the appropriate form was not delivered, or was not properly executed or because such Lender
failed to notify Administrative Agent of a change in circumstances that rendered the exemption from, or reduction of, withholding
tax ineffective, or for any other reason), then such Lender shall, and does hereby, indemnify and hold harmless Administrative
Agent (without limiting the obligations of the Credit Parties hereunder), and shall make payment in respect thereof within 10 days
after demand therefor, fully for all amounts paid, directly or indirectly, by Administrative Agent as Taxes or otherwise, and any
and all related losses, claims, liabilities, penalties, interest and expenses (including the fees, charges and disbursements of
any counsel for Administrative Agent), whether or not such Tax was correctly or legally asserted. A certificate as to the amount
of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each
Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under
this Agreement or any other Credit Document against any amount due to the Administrative Agent under this Section 9.10. The agreements
in this Section 9.10 shall survive the resignation and/or replacement of Administrative Agent, any assignment of rights by, or
the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all other Obligations.

 

	 	9.11	Pay-Off Letter

 

Upon termination of the Commitments and payment
in full of all Obligations (other than contingent obligations not yet due) and expiration or termination or Acceptable Collateralization
of all Letters of Credit, the Lenders and the L/C Issuer authorize the Administrative Agent to execute a pay-off letter to Borrower
evidencing the termination of this Agreement (including Sections 5, 6 and 8) and the

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other Credit Documents; provided that all
provisions that survive termination of this Agreement and the other Credit Documents shall survive such termination.

 

	 	9.12	Certain ERISA Matters.

 

(a)       Each
Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date
such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative
Agent, each Arranger and each Other Agent and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit
of the Borrower or any other Credit Party, that at least one of the following is and will be true:

 

(i)        such Lender
is not using “plan assets” (within the meaning of 29 CFR § 2510.3-101, as modified by Section 3(42) of ERISA)
of one or more Benefit Plans in connection with the Loans, the Letters of Credit or the Commitments;

 

(ii)       the transaction
exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent
qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general
accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38
(a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain
transactions determined by in-house asset managers), is applicable with respect to such Lender’s entrance into, participation
in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement;

 

(iii)      (A) such
Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part VI of
PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into,
participate in, administer and perform the Loans, the Letters of Credit, the Commitments and this Agreement, (C) the entrance into,
participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement satisfies
the requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements
of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration
of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement; or

 

(iv)      such other
representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion, and
such Lender.

 

(b)       In
addition, unless clause (i) in the immediately preceding paragraph (a) is true with respect to a Lender or such Lender has not
provided another representation, warranty and covenant as provided in clause (iv) in the immediately preceding paragraph (a), such
Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from
the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of,
the Administrative Agent, each Arranger and each Other Agent and their respective Affiliates, and not, for the avoidance of doubt,
to or for the benefit of the Borrower or any other Credit Party, that:

 

 (i)       none of the Administrative
Agent, any Arranger or any Other Agent or any of their respective Affiliates is a fiduciary with respect to the assets of such
Lender (including in

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connection with the reservation or exercise of
any rights by the Administrative Agent under this Agreement, any Credit Document or any documents related to hereto or thereto);

 

 (ii)      the Person
making the investment decision on behalf of such Lender with respect to the entrance into, participation in, administration of
and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is independent (within the meaning of 29
CFR § 2510.3-21) and is a bank, an insurance carrier, an investment adviser, a broker-dealer or other person that holds, or
has under management or control, total assets of at least $50 million, in each case as described in 29 CFR § 2510.3-21(c)(1)(i)(A)-(E);

 

(iii)      the Person
making the investment decision on behalf of such Lender with respect to the entrance into, participation in, administration of
and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is capable of evaluating investment risks
independently, both in general and with regard to particular transactions and investment strategies (including in respect of the
Obligations);

 

(iv)      the Person
making the investment decision on behalf of such Lender with respect to the entrance into, participation in, administration of
and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is a fiduciary under ERISA or the Internal
Revenue Code, or both, with respect to the Loans, the Letters of Credit, the Commitments and this Agreement and is responsible
for exercising independent judgment in evaluating the transactions hereunder; and

 

(v)       no fee or
other compensation is being paid directly to the Administrative Agent, any Arranger or any Other Agent or any their respective
Affiliates for investment advice (as opposed to other services) in connection with the Loans, the Letters of Credit, the Commitments
or this Agreement.

 

(c)       The
Administrative Agent, each Arranger and each Other Agent hereby informs the Lenders that each such Person is not undertaking to
provide impartial investment advice, or to give advice in a fiduciary capacity, in connection with the transactions contemplated
hereby, and that such Person has a financial interest in the transactions contemplated hereby in that such Person or an Affiliate
thereof (i) may receive interest or other payments with respect to the Loans, the Letters of Credit, the Commitments and this Agreement,
(ii) may recognize a gain if it extended the Loans, the Letters of Credit or the Commitments for an amount less than the amount
being paid for an interest in the Loans, the Letters of Credit or the Commitments by such Lender or (iii) may receive fees or other
payments in connection with the transactions contemplated hereby, the Credit Documents or otherwise, including structuring fees,
commitment fees, arrangement fees, facility fees, upfront fees, underwriting fees, ticking fees, agency fees, administrative agent
or collateral agent fees, utilization fees, minimum usage fees, letter of credit fees, fronting fees, deal-away or alternate transaction
fees, amendment fees, processing fees, term out premiums, banker’s acceptance fees, breakage or other early termination fees
or fees similar to the foregoing.

 

SECTION
10.

 

MISCELLANEOUS

 

	 	10.1	Notices.

 

(a)       Unless
otherwise specifically provided herein, any notice or other communication herein required or permitted to be given to a Credit
Party, the L/C Issuer or the

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Administrative Agent, shall be sent to such Person’s
address, as set forth on Appendix A or in the other relevant Credit Document, and in the case of any Lender, the address, as indicated
on Appendix A or otherwise indicated to Administrative Agent in writing. Each notice hereunder shall be in writing and may be personally
served, or sent by telecopy or United States mail or courier service and shall be deemed to have been given when delivered in person
or by courier service and signed for against receipt thereof, upon receipt of telecopy, or three Business Days after depositing
it in the United States mail with postage prepaid and properly addressed; provided, no notice to the Administrative Agent
shall be effective until received by the Administrative Agent.

 

(b)    Electronic
Communications.

 

(i)     Notices
and other communications to Lenders and the L/C Issuer hereunder may be delivered or furnished by Approved Electronic Communication
(including e-mail, and Internet or intranet websites, including the Information Platform) pursuant to procedures approved by the
Administrative Agent; provided, that the foregoing shall not apply to notices to any Lender or the L/C Issuer pursuant to
Section 2, if such Lender or the L/C Issuer has notified the Administrative Agent that it is incapable of receiving notices under
such Section by electronic communication. The Administrative Agent or Borrower may, in its discretion, agree to accept notices
and other communications to it hereunder by electronic communications pursuant to procedures approved by it; provided, further,
that approval of such procedures may be limited to particular notices or communications. Unless the Administrative Agent otherwise
prescribes, (x) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt
of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available,
return e-mail or other written acknowledgement); provided, that if such notice or other communication is not sent during
the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business
on the next Business Day for the recipient and (y) notices or communications posted to an Internet or intranet website shall be
deemed received upon the deemed receipt by the intended recipient at its e-mail address, as described in the foregoing clause (x),
of notification that such notice or communication is available and identifying the website address therefor.

 

(ii)      Each Credit
Party understands that the distribution of material through an electronic medium is not necessarily secure and that there are confidentiality
and other risks associated with such distribution and agrees and assumes the risks associated with such electronic distribution,
except to the extent caused by the gross negligence or willful misconduct of the Administrative Agent, as determined by a final,
non-appealable judgment of a court of competent jurisdiction.

 

(iii)      The Information
Platform and any Approved Electronic Communications are provided “as is” and “as available”. Neither the
Administrative Agent nor any of its respective officers, directors, employees, agents, advisors or representatives (the “Administrative
Agent Affiliates”) warrant the accuracy, adequacy, or completeness of the Approved Electronic Communications or the Information
Platform and each expressly disclaims liability for errors or omissions in the Information Platform and the Approved Electronic
Communications. No warranty of any kind, express, implied or statutory, including any warranty of merchantability, fitness for
a particular purpose, non-infringement of third party rights or freedom from viruses or other code defects, is made by the Administrative
Agent Affiliates in connection with the Information Platform or the Approved Electronic Communications. Each party hereto agrees
that the Administrative Agent has no responsibility for maintaining or providing any equipment, software, services or any testing
required in connection with any Approved Electronic Communication or otherwise required for the Information Platform. In no event
shall the Administrative Agent nor any of the Administrative Agent Affiliates have any liability to any Credit Party, any Lender
or any other Person for damages of any kind, whether or not based on strict liability and including direct or indirect, special,
incidental or consequential damages, losses or expenses (whether in tort, contract or otherwise) arising

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out of any Credit Party’s or the Administrative
Agent’s transmission of communications or notices through the Information Platform, any other electronic platform or electronic
messaging service, or through the internet.

 

(iv)     Each Credit
Party, each Lender, the L/C Issuer and the Administrative Agent agree that the Administrative Agent may, but shall not be obligated
to, store any Approved Electronic Communications on the Information Platform in accordance with the Administrative Agent’s
customary document retention procedures and policies.

 

(v)     All uses
of the Information Platform shall be governed by, and subject to, in addition to this Section 10.1(b), separate terms and conditions
posted or referenced in such Information Platform and related agreements executed by the Lenders and their Affiliates in connection
with the use of such Information Platform.

 

(vi)      Any notice
of Default or Event of Default may be provided by telephonic notice, if confirmed promptly thereafter by delivery of written notice
thereof.

 

(vii)     Each Public
Lender agrees to cause at least one individual at, or on behalf of, such Public Lender to at all times have selected the “Private
Side Information” or similar designation on the content declaration screen of the Information Platform in order to enable
such Public Lender or its delegate, in accordance with such Public Lender’s compliance procedures and applicable Law, including
United States Federal and state securities Laws, to make reference to Borrower materials that are not made available through the
“Public Side Information” portion of the Information Platform and that may contain material non-public information
with respect to the Borrower or its securities for purposes of United States Federal or state securities laws.

 

	 	10.2	Expenses.

 

Whether or not the transactions contemplated
hereby shall be consummated, Borrower agrees to pay, promptly upon demand (i) all the actual and reasonable costs and expenses
of preparation of the Credit Documents and any consents, amendments, waivers or other modifications thereto (whether or not effective);
(ii) all the costs of furnishing all opinions by counsel for Borrower and the other Credit Parties; (iii) all the actual and reasonable
costs and expenses (including the actual and reasonable fees, charges and disbursements of a single counsel to the Administrative
Agent and the L/C Issuer (in addition to local or specialized counsel)) of the Administrative Agent and the L/C Issuer in connection
with the negotiation, preparation, execution and administration of the Credit Documents and any consents, amendments, waivers or
other modifications thereto (whether or not effective) and any other documents or matters requested by Borrower; (iv) all other
actual and reasonable costs and expenses incurred by the Administrative Agent in connection with the syndication of the Loans and
Commitments and the negotiation, preparation and execution of the Credit Documents and any consents, amendments, waivers or other
modifications thereto and the transactions contemplated thereby; (v) all reasonable out-of-pocket expenses incurred by the L/C
Issuer in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder;
and (vi) after the occurrence of a Default or an Event of Default, all costs, amounts required to be indemnified pursuant to the
provisions of any Credit Document, expenses, fees, commission, taxes and other amounts (including the actual and reasonable fees,
charges and disbursements of a single counsel (in addition to local or specialized counsel, and, in the case of an actual or perceived
conflict of interest (based on advice of counsel) where the Indemnitee or Indemnitees affected by such conflict inform you of such
conflict, one additional firm of counsel for all such affected Indemnitees) and financial and other professional advisors for the
Administrative Agent and a single counsel for the other Beneficiaries, taken as a whole) and costs of settlement incurred by the
Administrative Agent or any Beneficiary in enforcing any Obligations of or in collecting any payments

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due from, any Credit Party hereunder or under
the other Credit Documents by reason of such Default or Event of Default (including in connection with the enforcement of the Guaranty),
and all reasonable expenses, liabilities and advances made or incurred by the Administrative Agent in connection therewith and
all amounts for which the Administrative Agent is entitled to indemnification pursuant to the provisions of any Credit Document,
until paid in full, or in connection with any refinancing or restructuring of the credit arrangements provided hereunder in the
nature of a “work out” or pursuant to any insolvency or bankruptcy cases or proceedings or otherwise incurred in connection
with any bankruptcy or insolvency proceedings, including, without limitation, a case or cases under the United States Bankruptcy
Code filed by or against any Credit Party.

 

	 	10.3	Indemnity.

 

(a)     In
addition to the payment of expenses pursuant to Section 10.2, whether or not the transactions contemplated hereby shall be consummated,
each Credit Party agrees to defend (subject to Indemnitees’ selection of counsel), indemnify, pay and hold harmless, the
Administrative Agent, the L/C Issuer, the Arrangers and each Lender, their respective Affiliates and their respective officers,
partners, directors, shareholders, trustees, employees, representatives, agents, advisors and attorneys (each, an “Indemnitee”),
from and against any and all Indemnified Liabilities, IN ALL CASES, WHETHER OR NOT CAUSED BY OR ARISING, IN WHOLE OR IN PART,
OUT OF THE COMPARATIVE, CONTRIBUTORY, OR SOLE NEGLIGENCE OF SUCH PERSON; provided that no Credit Party shall have any
obligation to any Indemnitee hereunder with respect to any Indemnified Liabilities, to the extent such Indemnified Liabilities
arise from the gross negligence , bad faith or willful misconduct of that Indemnitee or its Indemnitee Related Persons, as determined
by a court of competent jurisdiction in a final, nonappealable order. To the extent that the undertakings to defend, indemnify,
pay and hold harmless set forth in this Section 10.3 may be unenforceable, in whole or in part, because they are violative of any
law or public policy, the applicable Credit Party shall contribute the maximum portion that it is permitted to pay and satisfy
under applicable Law to the payment and satisfaction of all Indemnified Liabilities incurred by Indemnitees, or any of them.

 

(b)       To
the extent permitted by applicable Law, no Credit Party shall assert, and each Credit Party hereby waives, any claim against Lenders,
the L/C Issuer, the Administrative Agent and their respective Affiliates, partners, directors, shareholders, trustees, employees,
representatives, agents, advisors or attorneys, on any theory of liability, for special, indirect, consequential or punitive damages
(as opposed to direct or actual damages) (whether or not the claim therefor is based on contract, tort or duty imposed by any applicable
legal requirement) arising out of, in connection with, as a result of, or in any way related to, this Agreement or any Credit Document
or any agreement or instrument contemplated hereby or thereby or referred to herein or therein, the transactions contemplated hereby
or thereby, any Loan or the use of the proceeds thereof or any act or omission or event occurring in connection therewith, and
each Credit Party hereby waives, releases and agrees not to sue upon any such claim or any such damages, whether or not accrued,
and whether or not known or suspected to exist in its favor.

 

(c)     All
amounts due under this Section 10.3 shall be due and payable within ten Business Days after demand therefor.

 

(d)     To
the extent Borrower for any reason fails to pay any amount required under Section 10.2 or paragraph (a) or (b) of this Section
10.3 to be paid by it to the Administrative Agent (or any sub-agent thereof) or any Affiliate of any of the foregoing within the
time specified above, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent) or such Affiliate,
as the case may be, such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed expense
or indemnity payment is sought) of such unpaid amount (such indemnity shall be effective, whether or not the related losses, claims,
damages, liabilities and related expenses are incurred,

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or asserted, by any party hereto or any third
party); provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the
case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), in its capacity as such, or
against any Affiliate of any of the foregoing acting for the Administrative Agent (or any such sub-agent) in connection with such
capacity. The obligations of the Lenders under this paragraph (d) are subject to the provisions of Section 2.12. Each Lender further
agrees that in the event a distribution to the Beneficiaries is
made that does not conform to the provisions of Section 2.12(f), each Lender agrees that it shall turn over to the Administrative
Agent all amounts payable (or which would have been payable to the Administrative Agent or made in conformity with Section 2.12(f))
to the Administrative Agent pursuant to Section 2.12(f).

 

	 	10.4	Set Off.

 

In addition to any rights now or hereafter granted
under applicable Law and not by way of limitation of any such rights, upon the occurrence and during the continuance of any Event
of Default each Lender, the L/C Issuer and their respective Affiliates are hereby authorized by each Credit Party, at any time
or from time to time, subject to the consent of Administrative Agent (such consent not to be unreasonably withheld or delayed),
without notice to any Credit Party or to any other Person (other than Administrative Agent), any such notice being hereby expressly
waived, to set off and to appropriate and to apply any and all deposits (general or special, including Indebtedness evidenced by
certificates of deposit, whether matured or unmatured, but not including trust accounts (in whatever currency)), and any other
Indebtedness at any time held or owing by such Lender or the L/C Issuer to, or for the credit, or the account, of any Credit Party
(in whatever currency) against and on account of the obligations and liabilities of any Credit Party to such Lender or the L/C
Issuer hereunder and under the Letters of Credit and participations therein and the other Credit Documents, including all claims
of any nature or description arising out of, or connected, herewith or with the Letters of Credit and participations therein or
any other Credit Document, irrespective of whether or not (a) such Lender or the L/C Issuer shall have made any demand hereunder,
(b) the principal of, or the interest or fees on, the Loans, any amounts drawn or fees payable in respect of the Letters of Credit
or any other amounts due hereunder shall have become due and payable, and although such obligations and liabilities, or any of
them, may be contingent or unmatured or (c) such obligation or liability is owed to a branch or office of such Lender or the L/C
Issuer different from the branch or office holding such deposit or obligation or such Indebtedness.

 

	 	10.5	Amendments and Waivers.

 

(a)     Requisite
Lenders’ Consent. Subject to Sections 2.14(b), 10.5(b) and 10.5(c), no amendment, modification, termination or waiver
of any provision of the Credit Documents, or consent to any departure by any Credit Party therefrom, shall in any event be effective
without the written concurrence of Borrower and (i) in the case of this Agreement, Administrative Agent and the Requisite Lenders
or (ii) in the case of any other Credit Document, Administrative Agent, with the consent of the Requisite Lenders.

 

(b)    Affected
Lenders’ Consent. Subject to Section 2.14(b), without the written consent of each Lender (other than a Defaulting Lender)
that would be affected thereby, no amendment, modification, termination, or consent shall be effective if the effect thereof would:

 

(i)        increase,
or extend the maturity of, the Commitment of such Lender;

 

(ii)       waive, reduce
or postpone any scheduled repayment due such Lender (but not prepayment);

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(iii)      reduce the
rate of interest on any Loan of such Lender (including, for the avoidance of doubt, any amendment to the definition of “Default
Rate” and any waiver of any increase in the interest rate applicable to any Loan pursuant to Section 2.7) or any fee payable
hereunder;

 

(iv)      extend the
time for payment of any interest or fees to such Lender;

 

(v)       reduce the
principal amount of any Loan;

 

(vi)     amend, modify,
terminate or waive any provision of this Section 10.5(b) or Section 10.5(a) or (c), other than to add any provision that is subject
to the consent of each affected Lender or all Lenders;

 

(vii)    amend Section
2.11(a), 2.11(b), 2.12(f), 2.13 or the definition of “Applicable Percentage,” “Requisite Lenders,” “Requisite
Tranche Lenders,” “Requisite Tranche 1 Lenders,” or “Requisite Tranche 2 Lenders”; provided,
with the consent of Administrative Agent and the Requisite Lenders, additional extensions of credit pursuant hereto may be included
in the determination of “Applicable Percentage,” “Requisite Lenders,” “Requisite Tranche Lenders,”
“Requisite Tranche 1 Lenders,” or “Requisite Tranche 2 Lenders”, on substantially the same basis as the
Commitments and Outstanding Amounts are included on the Closing Date;

 

(viii)    release
all or substantially all of the value of the Guaranty or Guaranties, except as expressly provided in the Credit Documents; or

 

(ix)      consent to
the assignment or transfer by any Credit Party of any of its rights and obligations under any Credit Document, except pursuant
to any transaction permitted under Section 6.4.

 

(c)       Other
Consents. No amendment, modification, termination or waiver of any provision of the Credit Documents, or consent to any departure
by any Credit Party therefrom, shall:

 

(i)        unless in
writing and signed by the L/C Issuer, the Administrative Agent and the Requisite Tranche 2 Lenders (without the consent of any
other Lender), affect the rights or duties of the L/C Issuer or any Tranche 2 Lender under this Agreement or any Issuer Document
relating to any Letter of Credit issued, or to be issued, by it or amend any provision of Section 2.20;

 

(ii)       unless in
writing and signed by the Administrative Agent in addition to the Lenders required above, affect the rights or duties of the Administrative
Agent under this Agreement or any other Credit Document; or

 

(iii)      amend or
waive Section 8.1(k) or the definition of “Change of Control,” without consent of Lenders holding two-thirds of the
sum of the (a) Total Outstandings (with the aggregate amount of each Lender’s risk participation and funded participation
in L/C Obligations being deemed, without duplication, “held” by such Lender for purposes of this definition) and (b)
the aggregate unused Commitments; provided that the unused Commitment of, and the portion of the Total Outstandings held
or deemed held by, any Defaulting Lender shall be excluded for this purpose.

 

Anything herein to the contrary notwithstanding,
during such period as a Lender is a Defaulting Lender, to the fullest extent permitted by applicable Law, such Lender will not
be entitled to vote in respect of amendments and waivers hereunder and the Commitment and the outstanding Loans of

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such Lender hereunder will not be taken into account
in determining whether the Requisite Lenders or all of the affected Lenders, as required, have approved any such amendment or waiver
(and the definition of “Requisite Lenders,” “Requisite Tranche Lenders,” “Requisite Tranche 1 Lenders”
and “Requisite Tranche 2 Lenders” will automatically be deemed modified accordingly for the duration of such period);
provided, that any such amendment or waiver that is described in any of clauses (i) through (v) of Section 10.5(b) or that
would alter the terms of this proviso, will require the consent of such Lender.

 

(d)     Execution
of Amendments, etc. Administrative Agent may, but shall have no obligation to, with the concurrence of any Lender, execute
amendments, modifications, waivers or consents, on behalf of such Lender. Any waiver or consent shall be effective only in the
specific instance and for the specific purpose for which it was given. Except to the extent that any such notice or demand is required
to be given under this Agreement or any other Credit Document, no notice to, or demand on, any Credit Party in any case shall entitle
any Credit Party to any other or further notice or demand in similar or other circumstances. Any amendment, modification, termination,
waiver or consent effected in accordance with this Section 10.5 shall be binding upon each Lender at the time outstanding, each
future Lender and, if signed by a Credit Party, on such Credit Party.

 

	 	10.6	Successors and Assigns; Participations.

 

(a)     Generally.
This Agreement shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and permitted
assigns . No Credit Party’s rights or obligations hereunder, nor any interest therein, may be assigned or delegated by any
Credit Party without the prior written consent of the Administrative Agent and all Lenders, except as permitted in Section 10.5(b)(ix)
(and any attempted assignment or transfer by any Credit Party without such consent shall be null and void). Nothing in this Agreement,
expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors
and assigns permitted hereby and, to the extent expressly contemplated hereby, Affiliates of the Administrative Agent and Lenders
and Indemnitees) any legal or equitable right, remedy or claim under, or by reason of, this Agreement.

 

(b)     Borrower,
the Administrative Agent and Lenders shall deem and treat the Persons listed as Lenders in the Register, as the holders and owners
of the corresponding Commitments and Loans listed therein for all purposes hereof, and no assignment or transfer of any such Commitment
or Loan shall be effective, in each case, unless and until recorded in the Register following receipt of a fully executed Assignment
Agreement effecting the assignment or transfer thereof, together with the required forms and certificates regarding Tax matters
and any fees payable in connection with such assignment, in each case, as provided in Section 10.6(d). Each assignment shall be
recorded in the Register promptly following receipt by the Administrative Agent of the fully executed Assignment Agreement and
all other necessary documents and approvals, prompt notice thereof shall be provided to Borrower and a copy of such Assignment
Agreement shall be maintained, as applicable. The date of such recordation of a transfer shall be referred to herein as the “Assignment
Effective Date.” Any request, authority or consent of any Person who, at the time of making such request or giving such
authority or consent, is listed in the Register as a Lender shall be conclusive and binding on any subsequent holder, assignee
or transferee of the corresponding Commitments or Loans. Solely for the purposes of maintaining the Register and for tax purposes,
only Administrative Agent shall be deemed to be acting on behalf of the Credit Parties.

 

(c)     Right
to Assign. Each Lender shall have the right at any time to sell, assign or transfer all or a portion of its rights and obligations
under this Agreement, including all or a portion of its Commitment or Loans owing to it or other Obligations (provided that
pro rata assignments shall not be required and each assignment shall be of a uniform, and not varying, percentage of all rights
and obligations under, and in respect of, any applicable Loan and any related Commitments), to any Eligible

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Assignee; provided that (i) unless the
assignee is a Lender, the consent of the Administrative Agent and the L/C Issuer shall be required (each such consent not to be
unreasonably withheld or delayed) and (ii) unless either (x) the assignee is a Lender or an Affiliate of a Lender or a Related
Fund or (y) an Event of Default exists, the consent of Borrower shall be required (each such consent not to be unreasonably withheld,
conditioned or delayed; it being understood that Borrower will be deemed to have provided such consent in the event that it shall
have failed to respond to a consent request made in writing and delivered in accordance with Section 10.1 within 10 Business Days
of such delivery); provided that each such assignment of Loans or Commitments pursuant to this Section 10.6(c) shall be
in an aggregate amount of not less than $5,000,000 (or such lesser amount as may be agreed to by Borrower and the Administrative
Agent or as shall constitute the aggregate amount of the Loans or the total Commitment, respectively, of the assigning Lender);
provided, that the Related Funds of any individual Lender may aggregate their Loans for purposes of determining compliance
with such minimum assignment amounts. Notwithstanding anything to the contrary contained herein, the Administrative Agent shall
be under no obligation to determine whether an assignee is an Eligible Assignee and shall have no responsibility for monitoring
or enforcing the requirement that only Eligible Assignees shall be Lenders.

 

(d)     Mechanics.
Assignments and assumptions of Loans and Commitments by Lenders shall be effected by manual execution and delivery to the Administrative
Agent of an Assignment Agreement. Assignments made pursuant to the foregoing provision shall be effective as of the Assignment
Effective Date. In connection with all assignments, there shall be delivered to the Administrative Agent such forms, certificates
or other evidence, if any, with respect to United States federal income Tax withholding matters, as the assignee under such Assignment
Agreement may be required to deliver pursuant to Section 2.16(e), together with payment to the Administrative Agent of a registration
and processing fee of $3,500; provided, however, that the Administrative Agent may, in its sole discretion, elect
to waive such processing and recordation fee in the case of any assignment. The assignee, if not a Lender, shall deliver to the
Administrative Agent an Administrative Questionnaire.

 

(e)     Representations
and Warranties of Assignee. Each Lender, upon execution and delivery hereof or upon succeeding to an interest in the Commitments
and Loans, as the case may be, represents and warrants, as of the Closing Date or as of the Assignment Effective Date, that (i)
it is an Eligible Assignee; (ii) it has experience and expertise in the making of, or investing in, commitments or loans such as
the applicable Commitments or Loans, as the case may be, and is capable of evaluating the creditworthiness of Borrower; and (iii)
it shall make, or invest in, as the case may be, its Commitments or Loans for its own account in the ordinary course and without
a view to distribution of such Commitments or Loans within the meaning of the Securities Act or the Exchange Act or other federal
securities laws (it being understood that, subject to the provisions of this Section 10.6, the disposition of such Commitments
or Loans or any interests therein shall at all times remain within its exclusive control).

 

(f)     Effect
of Assignment. Subject to the terms and conditions of this Section 10.6, as of the “Assignment Effective Date”
(i) the assignee thereunder shall have the rights and obligations of a “Lender” hereunder, to the extent of its interest
in the Loans and Commitments, as reflected in the Register, and shall thereafter be a party hereto and a “Lender” for
all purposes hereof; (ii) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been
assigned to the assignee, relinquish its rights (other than any rights which survive the termination hereof, including under Section
10.7) and be released from its obligations hereunder (and, in the case of an assignment covering all or the remaining portion of
an assigning Lender’s rights and obligations hereunder, such Lender shall cease to be a party hereto on the Assignment Effective
Date; provided that anything contained in any of the Credit Documents to the contrary notwithstanding, such assigning Lender
shall continue to be entitled to the benefit of all indemnities hereunder, as specified herein, with respect to matters arising
out of the prior involvement of such assigning Lender as a Lender hereunder); (iii) the Commitments shall be modified to reflect
any Commitment of such assignee; and (iv) if any such assignment occurs after the

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issuance of any Note hereunder, the assigning
Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its applicable Notes
to the Administrative Agent for cancellation, and thereupon Borrower shall issue and deliver new Notes, if so requested by the
assignee and/or assigning Lender, to such assignee and/or to such assigning Lender, with appropriate insertions, to reflect outstanding
Loans of the assignee and/or the assigning Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement
that does not comply with the requirements of this Section 10.6 shall be treated for purposes of this Agreement as a sale by such
Lender of a participation in such rights and obligations in accordance with Section 10.6(g). Any assignment by a Lender pursuant
to this Section 10.6 shall not in any way constitute, or be deemed to constitute, a novation, discharge, rescission, extinguishment
or substitution of the Indebtedness hereunder, and any Indebtedness so assigned shall continue to be the same obligation and not
a new obligation.

 

(g)      Participations.

 

(i)      Each Lender shall
have the right at any time to sell one or more participations to any Person (other than a natural person, or a holding company,
investment vehicle or trust for, or owned and operated for the primary benefit of a natural Person, a Disqualified Person, Borrower,
or any Affiliate of Borrower) in all or any part of its Commitments, Loans or in any other Obligation.

 

(ii)      The holder
of any such participation, other than an Affiliate of the Lender granting such participation (a “Participant”),
shall not be entitled to require such Lender to take or omit to take any action hereunder, except with respect to any amendment,
modification or waiver that would (A) increase, or extend the maturity of, the Commitment in which such Participant is participating,
or reduce the rate or extend the time of payment of interest or fees on, or reduce the principal amount of, any Loan in which such
Participant is participating, or increase the amount of the Participant’s participation over the amount thereof then in effect
(it being understood that a waiver of any Default or Event of Default or of a mandatory reduction in the Commitment shall not constitute
a change in the terms of such participation, and that an increase in any Commitment or Loan shall be permitted without the consent
of any Participant, if the Participant’s participation is not increased as a result thereof) or (B) amend the definition
of “Applicable Percentage,” “Requisite Lenders,” or, to the extent of their participation in the relevant
Tranche, “Requisite Tranche Lenders,” “Requisite Tranche 1 Lenders” or “Requisite Tranche 2 Lenders”
except as such amendment is permitted by the proviso in Section 10.5(b)(vii).

 

(iii)      Borrower
agrees that each Participant shall be entitled to the benefits of Sections 2.14(d), 2.15 and 2.16, to the same extent as if it were
a Lender and had acquired its interest by assignment pursuant to paragraph (c) of this Section 10.6 (subject to the requirements
and limitations therein, including the requirement to provide forms under Section 2.16(e)) (which forms shall be provided solely
to the applicable Lender selling such participation); provided, that a Participant shall not be entitled to receive any
greater payment under Section 2.15 or 2.16 than the applicable Lender would have been entitled to receive with respect to the participation
sold to such Participant, except to the extent the entitlement to a greater payment results from a change in Law that occurs after
such Participant acquires the applicable participation; provided, further, that nothing herein shall require any
notice to Borrower or any other Person in connection with the sale of any participation. To the extent permitted by law, each Participant
also shall be entitled to the benefits of Section 10.4, as though it were a Lender; provided, that such Participant agrees
to be subject to Section 2.17, as though it were a Lender.

 

(iv)      Each Lender
that sells a participation shall, acting as a non-fiduciary agent of Borrower, maintain a register on which it enters the name
and address of each Participant and the principal amounts of each Participant’s interest in the Commitments, Loans and other
Obligations held by it (the “Participant Register”). The entries in the Participant Register shall be conclusive
absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register

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as the Participant for all purposes of this Agreement,
notwithstanding any notice to the contrary. Any such Participant Register shall be confidential, except to the extent the relevant
parties, acting reasonably and in good faith, determine that such disclosure is necessary to establish that such Commitment, Loan
or other Obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. Unless otherwise
required by the Internal Revenue Service, any disclosure required by the foregoing sentence shall be made by the relevant Lender
directly and solely to the Internal Revenue Service.

 

(h)     Certain
Other Assignments and Participations. In addition to any other assignment or participation permitted pursuant to this Section
10.6, any Lender may assign, pledge and/or grant a security interest in (without the consent of Borrower or the Administrative
Agent) all or any portion of its Loans, the other Obligations owed by or to such Lender, and its Notes, if any, to secure obligations
of such Lender including to any Federal Reserve Bank, as collateral security pursuant to Regulation A of the Board of Governors
and any operating circular issued by such Federal Reserve Bank; provided that no Lender, as between Borrower and such Lender,
shall be relieved of any of its obligations hereunder as a result of any such assignment and pledge; provided, further,
that in no event shall the applicable Federal Reserve Bank, pledgee or trustee, be considered to be a “Lender” or be
entitled to require the assigning Lender to take or omit to take any action hereunder.

 

(i)     Resignation
as L/C Issuer After Assignment. Notwithstanding anything to the contrary contained herein, if at any time Bank of America assigns
all of its Commitment and Loans pursuant to Section 10.6(c), Bank of America upon 45 days’ notice to Borrower and the Lenders,
may resign as the L/C Issuer. In the event of any such resignation as the L/C Issuer, Borrower shall be entitled to appoint from
among the Lenders a successor L/C Issuer hereunder; provided, however, that no failure by Borrower to appoint any
such successor shall affect the resignation of Bank of America as the L/C Issuer. If Bank of America resigns as the L/C Issuer,
it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit
issued by it and outstanding, as of the effective date of its resignation as the L/C Issuer, and all L/C Obligations with respect
thereto (including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts
pursuant to Section 2.20(c)). Subject to the previous sentence, upon the appointment of a successor L/C Issuer, (a) such successor
shall succeed to, and become vested with, all of the rights, powers, privileges and duties of the retiring L/C Issuer and (b) the
successor L/C Issuer shall issue letters of credit and bankers’ acceptances in substitution for the Letters of Credit, if
any, outstanding at the time of such succession or make other arrangements, satisfactory to Bank of America, to effectively assume
the obligations of Bank of America with respect to such Letters of Credit.

 

	 	10.7	Survival of Representations, Warranties and Agreements.

 

All representations, warranties and agreements
made herein shall survive the execution and delivery hereof and the making of any Credit Extension. Notwithstanding anything herein
or implied by law to the contrary, the agreements of each Credit Party set forth in Sections 2.14(d), 2.15, 2.16, 10.2, 10.3 and
10.4 and the agreements of Lenders set forth in Sections 2.13, 9.3(b) and 9.6 shall survive the payment of the Loans, the cancellation
or expiration of the Letters of Credit and the reimbursement of any amounts drawn thereunder, and the termination hereof.

 

	 	10.8	No Waiver; Remedies Cumulative.

 

No failure or delay on the part of the Administrative
Agent or any Lender in the exercise of any power, right or privilege hereunder or under any other Credit Document shall impair
such power, right or privilege or be construed to be a waiver of any default or acquiescence therein, nor shall any single or partial
exercise of any such power, right or privilege preclude other or further exercise thereof or

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of any other power, right or privilege. The rights,
powers and remedies given to the Administrative Agent and each Lender hereby are cumulative and shall be in addition to, and independent
of, all rights, powers and remedies existing by virtue of any statute or rule of law or in any of the other Credit Documents. Any
forbearance or failure to exercise, and any delay in exercising, any right, power or remedy hereunder shall not impair any such
right, power or remedy or be construed to be a waiver thereof, nor shall it preclude the further exercise of any such right, power
or remedy.

 

	 	10.9	Marshalling; Payments Set Aside.

 

Neither the Administrative Agent nor any Lender
shall be under any obligation to marshal any assets in favor of any Credit Party or any other Person or against, or in payment
of, any or all of the Obligations. To the extent that any Credit Party makes a payment or payments to Administrative Agent or Lenders
(or to Administrative Agent, on behalf of Lenders), or Administrative Agent or Lenders enforce any security interests or exercise
their rights of setoff, and such payment or payments or the proceeds of such enforcement or setoff, or any part thereof, are subsequently
invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to a trustee, receiver or any other
party under any bankruptcy law, any other state or federal law, common law or any equitable cause, then, to the extent of such
recovery, the Obligation, or part thereof, originally intended to be satisfied, and all Liens, rights and remedies therefor or
related thereto, shall be revived and continued in full force and effect, as if such payment or payments had not been made or such
enforcement or setoff had not occurred.

 

	 	10.10	Severability.

 

In case any provision herein or obligation hereunder
or any Note or other Credit Document shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and
enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall
not in any way be affected or impaired thereby.

 

	 	10.11	Obligations Several; Independent Nature of Lenders’ Rights.

 

The obligations of Lenders hereunder are several
and no Lender shall be responsible for the obligations or Commitment of any other Lender hereunder. Nothing contained herein or
in any other Credit Document, and no action taken by Lenders pursuant hereto or thereto, shall be deemed to constitute Lenders
as a partnership, an association, a joint venture or any other kind of entity. The amounts payable at any time hereunder to each
Lender shall be a separate and independent debt, and each Lender shall be entitled to protect and enforce its rights arising out
hereof and it shall not be necessary for any other Lender to be joined as an additional party in any proceeding for such purpose.

 

	 	10.12	Headings.

 

Section headings herein are included herein for
convenience of reference only and shall not constitute a part hereof for any other purpose or be given any substantive effect.

 

	 	10.13	APPLICABLE LAW.

 

THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS
OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
NEW YORK.

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	 	10.14	CONSENT TO JURISDICTION.

 

(a)     ALL
JUDICIAL PROCEEDINGS BROUGHT AGAINST ANY CREDIT PARTY ARISING UNDER, OR RELATING TO, THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT,
OR ANY OF THE OBLIGATIONS, MAY BE BROUGHT IN ANY STATE OR FEDERAL COURT OF COMPETENT JURISDICTION IN THE STATE, COUNTY AND CITY
OF NEW YORK. BY EXECUTING AND DELIVERING THIS AGREEMENT, EACH CREDIT PARTY, FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES, IRREVOCABLY
(i) ACCEPTS GENERALLY AND UNCONDITIONALLY THE NONEXCLUSIVE JURISDICTION AND VENUE OF SUCH COURTS; (ii) WAIVES ANY DEFENSE OF FORUM
NON CONVENIENS; (iii) AGREES THAT SERVICE OF ALL PROCESS IN ANY SUCH PROCEEDING IN ANY SUCH COURT MAY BE MADE BY REGISTERED OR
CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO THE APPLICABLE CREDIT PARTY AT ITS ADDRESS PROVIDED IN ACCORDANCE WITH SECTION 10.1
AND IS SUFFICIENT TO CONFER PERSONAL JURISDICTION OVER THE APPLICABLE CREDIT PARTY IN ANY SUCH PROCEEDING IN ANY SUCH COURT, AND
OTHERWISE CONSTITUTES EFFECTIVE AND BINDING SERVICE IN EVERY RESPECT; AND (iv) AGREES THAT THE ADMINISTRATIVE AGENT AND LENDERS
RETAIN THE RIGHT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO BRING PROCEEDINGS AGAINST ANY CREDIT PARTY IN THE
COURTS OF ANY OTHER JURISDICTION.

 

(b)     EACH
CREDIT PARTY HEREBY AGREES THAT PROCESS MAY BE SERVED ON IT BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO THE ADDRESSES PERTAINING
TO IT, AS SPECIFIED IN SECTION 10.1. ANY AND ALL SERVICE OF PROCESS AND ANY OTHER NOTICE IN ANY SUCH ACTION, SUIT OR PROCEEDING
SHALL BE EFFECTIVE AGAINST ANY CREDIT PARTY, IF GIVEN BY REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED, OR BY ANY OTHER
MEANS OR MAIL WHICH REQUIRES A SIGNED RECEIPT, POSTAGE PREPAID, MAILED, AS PROVIDED ABOVE.

 

	 	10.15	WAIVER OF JURY TRIAL.

 

EACH OF THE PARTIES HERETO HEREBY AGREES TO
WAIVE ITS RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED ON, OR ARISING UNDER ANY OF THE CREDIT DOCUMENTS
OR ANY DEALINGS BETWEEN OR AMONG THEM RELATING TO THE SUBJECT MATTER OF THIS LOAN TRANSACTION OR THE LENDER/BORROWER RELATIONSHIP
THAT IS BEING ESTABLISHED. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED
IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY
CLAIMS AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. EACH PARTY HERETO ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT
TO ENTER INTO A BUSINESS RELATIONSHIP, THAT EACH PARTY HAS ALREADY RELIED ON THIS WAIVER IN ENTERING INTO THIS AGREEMENT, AND THAT
EACH PARTY WILL CONTINUE TO RELY ON THIS WAIVER IN ITS RELATED FUTURE DEALINGS. EACH PARTY HERETO FURTHER WARRANTS AND REPRESENTS
THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT, KNOWINGLY AND VOLUNTARILY, WAIVES ITS JURY TRIAL RIGHTS FOLLOWING
CONSULTATION WITH LEGAL COUNSEL. THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED, EITHER

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ORALLY OR IN WRITING (OTHER THAN BY A MUTUAL
WRITTEN WAIVER SPECIFICALLY REFERRING TO THIS SECTION 10.15 AND EXECUTED BY EACH OF THE PARTIES HERETO), AND THIS WAIVER SHALL
APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS HERETO OR ANY OF THE OTHER CREDIT DOCUMENTS OR TO ANY
OTHER DOCUMENTS OR AGREEMENTS RELATING TO THE LOANS MADE HEREUNDER. IN THE EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS
A WRITTEN CONSENT TO A TRIAL BY THE COURT.

 

	 	10.16	Confidentiality.

 

The Administrative Agent, the L/C Issuer,
the Arrangers, the Other Agent and Lender shall hold all non-public, confidential or proprietary information regarding Borrower
and its Subsidiaries and their businesses clearly identified as such by Borrower and obtained by the Administrative Agent, the
L/C Issuer, such Arranger, such Other Agent or such Lender pursuant to the requirements hereof in accordance with such Agent’s,
the L/C Issuer’s, such Arranger’s, such Other Agent’s or such Lender’s customary procedures for handling
confidential information of such nature; it being understood and agreed by Borrower that, in any event, the Administrative Agent,
the L/C Issuer, an Arranger, an Other Agent or a Lender may make (i) disclosures of such information to Affiliates of such Person
and to their directors, officers, employees, agents and advisors (and to other persons authorized by a Lender, the Administrative
Agent, the L/C Issuer, an Arranger or an Other Agent to organize, present or disseminate such information in connection with disclosures
otherwise made in accordance with this Section 10.16); provided that such Affiliates, directors, officers, employees, agents,
advisors or other persons are advised of, and agreed to, or are otherwise obligated to be bound by, the provisions of this Section
10.16, (ii) disclosures of such information reasonably required by any bona fide or potential assignee, transferee, Participant,
sub-participant or counterparty in connection with the contemplated assignment, transfer, participation or transaction (x) by the
Administrative Agent of any agency position, (y) by such Lender or the L/C Issuer of any Loans or Letters of Credit or any participations
therein or (z) by any direct or indirect contractual counterparties, including, for the avoidance of doubt, in respect of any swap
or derivative transactions (or the professional advisors thereto) (provided that such bona fide or potential assignees,
transferees, participants, sub-participants, and counterparties and advisors are advised of, and agree to be bound by, the provisions
of this Section 10.16), (iii) disclosure to any rating agency, when required by it; provided that, prior to any disclosure,
such rating agency shall undertake in writing to preserve the confidentiality of any confidential information relating to the Credit
Parties received by it from the Administrative Agent, the L/C Issuer, any Arranger or Other Agent or any Lender, (iv) disclosures
to any Lender’s financing sources; provided that prior to any disclosure, such financing source is informed of the
confidential nature of the information and agrees to be bound by the provisions of this Section 10.16, (v) disclosure of information
which (A) becomes publicly available other than as a result of a breach of this Section 10.16 or (B) becomes available to Administrative
Agent, any Arranger, any Other Agent, the L/C Issuer or any Lender on a non-confidential basis from a source other than Borrower,
(vi) disclosures required or requested by any governmental agency by law or Financial Industry Regulatory Authority, New York Stock
Exchange and any other “self-regulatory organizations” as defined by SEC rules or representative thereof or by the
NAIC or pursuant to legal or judicial process, (vii) disclosures with consent of Borrower; provided, unless specifically
prohibited by applicable Law or court order, the Administrative Agent, the L/C Issuer, such Arranger, such Other Agent or such
Lender (as the case may be) shall make reasonable efforts to notify Borrower of any request or requirement by any governmental
agency or representative thereof or by the NAIC or pursuant to legal or judicial process (other than any such request in connection
with any examination of the financial condition or other routine examination of the Administrative Agent, the L/C Issuer, such
Arranger, such Other Agent or such Lender (as the case may be) by such governmental agency) for disclosure of any such non-public
information prior to disclosure of such information, (viii) disclosures to any other party hereto and (ix) disclosures in connection
with the exercise of any remedy or the enforcement of any right under this

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Agreement or any other Credit Document in
any litigation or arbitration action or proceeding relating thereto, to the extent such disclosure is reasonably necessary in connection
with such litigation or arbitration action or proceeding. Notwithstanding the foregoing, on or after the Closing Date, the Administrative
Agent, the Arrangers and the Other Agents may, at their respective own expense, issue news releases and publish “tombstone”
advertisements and other announcements relating to this transaction in newspapers, trade journals and other appropriate media,
in each case, with the content thereof (other than with respect to “tombstone” advertisements) having been approved
beforehand by Borrower. Notwithstanding any other provision of this Section 10.16, the parties (and each employee, representative,
or other agent of the parties) may disclose to any and all Persons, without limitation of any kind, the Tax treatment and any facts
that may be relevant to the Tax structure of the transactions contemplated by this Agreement and the other Credit Documents; provided,
however, that no party (and no employee, representative, or other agent thereof) shall disclose any other information that
is not relevant to an understanding of the Tax treatment and Tax structure of the transaction (including the identity of any party
and any information that could lead another Person to determine the identity of any party), or any other information, to the extent
that such disclosure could reasonably result in a violation of any applicable securities law. In addition, the Administrative Agent
and the Lenders may disclose the existence of this Agreement and information about this Agreement to market data collectors, similar
service providers to the lending industry and service providers to the Agents and the Lenders in connection with the administration
of this Agreement, the other Credit Documents and the Commitments.

 

	 	10.17	Usury Savings Clause.

 

Notwithstanding any other provision herein,
the aggregate interest rate charged or agreed to be paid with respect to any of the Obligations, including all charges or fees
in connection therewith deemed in the nature of interest under applicable Law shall not exceed the Highest Lawful Rate. If the
rate of interest (determined without regard to the preceding sentence) under this Agreement at any time exceeds the Highest Lawful
Rate, the outstanding amount of the Loans made hereunder shall bear interest at the Highest Lawful Rate, until the total amount
of interest due hereunder equals the amount of interest which would have been due hereunder, if the stated rates of interest set
forth in this Agreement had at all times been in effect. In addition, if, when the Loans made hereunder are repaid in full, the
total interest due hereunder (taking into account the increase provided for above) is less than the total amount of interest which
would have been due hereunder, if the stated rates of interest set forth in this Agreement had at all times been in effect, then,
to the extent permitted by law, Borrower shall pay to Administrative Agent an amount equal to the difference between the amount
of interest paid and the amount of interest which would have been paid, if the Highest Lawful Rate had at all times been in effect.
Notwithstanding the foregoing, it is the intention of Lenders and Borrower to conform strictly to any applicable usury laws. Accordingly,
if any Lender contracts for, charges, or receives any consideration which constitutes, interest in excess of the Highest Lawful
Rate, then any such excess shall be cancelled automatically and, if previously paid, shall be refunded to Borrower. In determining
whether the interest contracted for, charged, or received, by Administrative Agent or a Lender exceeds the Highest Lawful Rate,
such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee,
or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate,
and spread in equal or unequal parts the total amount of interest, throughout the contemplated term of the Obligations hereunder.

 

	 	10.18	Guaranty.

 

(a)        Each Lender hereby authorizes Administrative
Agent, on behalf of, and for the benefit of, Lenders, to be the agent for and representative of Lenders with respect to the Guaranty.

    	-121-

    	

    

(b)        Administrative Agent shall release
any Lien on any property granted to or held by Administrative Agent under any Credit Document, upon termination of the Commitments
and payment in full of all Obligations (other than contingent reimbursement and indemnification obligations not yet accrued and
payable).

 

(c)        Subject to Section 10.5, without further
written consent or authorization from any Lender, the Administrative Agent may execute any documents or instruments necessary to
release any Guarantor from the Guaranty pursuant to Section 7.12 or with respect to which Requisite Lenders (or such other Lenders,
as may be required to give such consent under Section 10.5) have otherwise consented.

 

(d)        Any release of guarantee obligations
pursuant to this Section 10.18 shall be deemed subject to the provision that such guarantee obligations shall be reinstated, if,
after such release, any portion of any payment in respect of the Obligations guaranteed thereby shall be rescinded or must otherwise
be restored or returned upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of Borrower or any Guarantor,
or upon, or as a result of, the appointment of a receiver, intervenor or conservator of, or trustee or similar officer for, Borrower
or any Guarantor or any substantial part of its property, or otherwise, all as though such payment had not been made.

 

	 	10.19	Patriot Act.

 

Each Lender and Administrative Agent (for
itself and not on behalf of any Lender) hereby notifies the Credit Parties that, pursuant to the requirements of the Patriot Act,
it is required to obtain, verify and record information that identifies the Credit Parties, which information includes the name
and address of the Credit Parties and other information that will allow such Lender or Administrative Agent, as applicable, to
identify the Credit Parties in accordance with the Patriot Act.

 

	 	10.20	Disclosure.

 

Each Credit Party and each Lender hereby
acknowledges and agrees that Administrative Agent and/or its Affiliates and their respective Related Funds, from time to time,
may hold investments in, and make other loans to, or have other relationships with, any of the Credit Parties and their respective
Affiliates, including the ownership, purchase and sale of equity interests in Borrower, and each Credit Party and each Lender hereby
expressly consents to such relationships.

 

	 	10.21	Electronic Execution of Assignments.

 

The words “execution,” “signed,”
“signature,” and words of like import in or related to any document to be signed in connection with this Agreement
and the transactions contemplated hereby (including without limitation Assignment and Assumptions, amendments or other modifications,
Notices, waivers and consents) shall be deemed to include electronic signatures or the keeping of records in electronic form, each
of which shall be of the same legal effect, validity or enforceability, as a manually executed signature or the use of a paper-based
recordkeeping system, as the case may be, to the extent and as provided for in any applicable Law, including the Federal Electronic
Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar
state laws based on the Uniform Electronic Transactions Act; provided that notwithstanding anything contained herein to
the contrary the Administrative Agent is under no obligation to agree to accept electronic signatures in any form or in any format
unless expressly agreed to by the Administrative Agent pursuant to procedures approved by it.

    	-122-

    	

    

	 	10.22	No Fiduciary Duty.

 

The Administrative Agent, each Lender, each
Arranger, the L/C Issuer, each Other Agent and their respective Affiliates (collectively, solely for purposes of this paragraph,
the “Lenders”), may have economic interests that conflict with those of Borrower, its stockholders and/or its
Affiliates. Borrower agrees that nothing in the Credit Documents or otherwise will be deemed to create an advisory, fiduciary or
agency relationship or fiduciary or other implied duty between any Lender or any Agent, on the one hand, and Borrower, its stockholders
or its Affiliates, on the other hand. The Credit Parties acknowledge and agree that (i) the transactions contemplated by the Credit
Documents (including the exercise of rights and remedies hereunder and thereunder) are arm’s-length commercial transactions
between the Lenders and the Administrative Agent, on the one hand, and Borrower, on the other hand, and (ii) in connection therewith
and with the process leading thereto, (x) no Lender and no Agent has assumed an advisory or fiduciary responsibility in favor of
Borrower, its stockholders or its Affiliates with respect to the transactions contemplated hereby (or the exercise of rights or
remedies with respect thereto) or the process leading thereto (irrespective of whether any Lender has advised, is currently advising
or will advise Borrower, its stockholders or its Affiliates on other matters) or any other obligation to Borrower except, the obligations
expressly set forth in the Credit Documents and (y) each Lender is acting solely as principal, and not as the agent or fiduciary
of Borrower, its management, stockholders, creditors or any other Person.
Borrower acknowledges and agrees that Borrower has consulted its own legal and financial advisors, to the extent it deemed appropriate,
and that it is responsible for making its own independent judgment with respect to such transactions and the process leading thereto.
Borrower agrees that it will not claim that any Lender or the Administrative Agent has rendered advisory services of any nature
or respect, or owes a fiduciary or similar duty to Borrower, in connection with such transaction or the process leading thereto.

 

	 	10.23	Entire Agreement.

 

This Agreement and the other Credit Documents
represent the final agreement among the parties and may not be contradicted by evidence of prior, contemporaneous, or subsequent
oral agreements of the parties. There are no oral agreements among the parties. This Agreement may be executed in counterparts
(and by different parties hereto in separate counterparts), each of which shall constitute an original, but all of which, when
taken together, shall constitute a single contract; signature pages may be detached from multiple separate counterparts and attached
to a single counterpart so that all signature pages are physically attached to the same document. Delivery of an executed counterpart
of a signature page of any Credit Document by facsimile or other electronic imaging means (e.g. “pdf” or “tif”)
shall be effective as delivery of a manually executed counterpart of such Credit Document.

 

	 	10.24	Acknowledgement and Consent to Bail-In of EEA Financial Institutions.

 

Solely to the extent an EEA Financial Institution
is a party to this Agreement and notwithstanding anything to the contrary in any Credit Document or in any other agreement, arrangement
or understanding among any such parties, each party hereto acknowledges that any liability of any Lender or L/C Issuer that is
an EEA Financial Institution arising under any Credit Document, to the extent such liability is unsecured, may be subject to the
Write-Down and Conversion Powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound
by:

 

(a)        the application
of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may be payable
to it by any Lender or L/C Issuer that is an EEA Financial Institution; and

 

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

    	-123-

    	

    

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

 

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

 

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

 

[Signature Pages Intentionally
Omitted]

    	-124-

    	

    

EXHIBIT B

Schedule 2.1

Commitments and L/C Issuer Sublimit

 

	Name of Lender	Tranche 1E Commitment	Tranche 1 Applicable Percentage	Tranche 2E Commitment	Tranche 2 Applicable Percentage	L/C Issuer Sublimit
	Bank of America, N.A.	$50,000,000.00	13.333333333%	$16,666,666.70	13.333333360%	$125,000,000
	Barclays Bank PLC	$50,000,000.00	13.333333333%	$16,666,666.66	13.333333328%	$0
	JPMorgan Chase Bank, N.A.	$50,000,000.00	13.333333333%	$16,666,666.66	13.333333328%	$0
	Credit Suisse AG, Cayman Islands Branch	$50,000,000.00	13.333333333%	$16,666,666.66	13.333333328%	$0
	Deutsche Bank AG New York Branch	$50,000,000.00	13.333333333%	$16,666,666.66	13.333333328%	$0
	Morgan Stanley Bank, N.A.	$50,000,000.00	13.333333333%	$16,666,666.66	13.333333328%	$0
	Citibank, N.A.	$31,250,000.00	8.333333333%	$10,416,666.67	8.333333336%	$0
	Crédit Agricole Corporate & Investment Bank	$12,500,000.00	3.333333333%	$4,166,666.67	3.333333336%	$0
	Total	$343,750,000.00	91.666666667%	$114,583,333.34	91.666666672%	$125,000,000

 

	Name of Lender	Tranche 1N Commitment	Tranche 1 Applicable Percentage	Tranche 2N Commitment	Tranche 2 Applicable Percentage	L/C Issuer Sublimit
	Goldman Sachs Bank USA	$31,250,000.00	8.333333333%	$10,416,666.66	8.333333328%	$0
	Total	$31,250,000.00	8.333333333%	$10,416,666.66	8.333333328%	$0Exhibit

Exhibit 10.2

Execution Version
FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AND GUARANTY AGREEMENT
FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AND GUARANTY AGREEMENT (this “First Amendment”), dated as of November 14, 2017 among American Airlines, Inc., a Delaware corporation (the “Borrower”), American Airlines Group Inc., a Delaware corporation (the “Parent” or the “Guarantor”), the lenders party hereto with a 2017 Class B Term Loan Commitment referred to below (the “2017 Term Lenders”), each other lender party hereto and Citibank, N.A. (“Citibank”), as administrative agent (in such capacity, the “Administrative Agent”) and as the designated lender of 2017 Class B Term Loans referred to below (in such capacity, the “Designated 2017 Term Lender”).  Unless otherwise indicated, all capitalized terms used herein and not otherwise defined shall have the respective meanings provided such terms in the Credit Agreement referred to below.
W I T N E S S E T H:
WHEREAS, the Borrower, the Guarantor, the lenders from time to time party thereto, the Administrative Agent and certain other parties thereto are parties to that certain Amended and Restated Credit and Guaranty Agreement, dated as of December 15, 2016 (as amended, amended and restated, supplemented or otherwise modified to but not including the First Amendment Effective Date as defined below, the “Credit Agreement”);
WHEREAS, on the date hereof, there are outstanding Class B Term Loans under the Credit Agreement (the “Existing Term Loans”) in an aggregate principal amount of $1,250,000,000;
WHEREAS, pursuant to Section 10.08(e) of the Credit Agreement, the Borrower desires to refinance in full the Existing Term Loans with the proceeds of the 2017 Class B Term Loans (as defined below) (the “Refinancing”); and
WHEREAS, the Borrower, the Administrative Agent, the 2017 Term Lenders and the other Lenders party hereto wish to amend the Credit Agreement to provide for (i) the Refinancing and (ii) certain other modifications to the Credit Agreement, in each case, on the terms and subject to the conditions set forth herein.
NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
SECTION ONE - Credit Agreement Amendments.  Effective as of the First Amendment Effective Date (as defined below):
(a)    The Credit Agreement is hereby amended as follows:

	
			
	 
	 
	 

(i)    Section 1.01 of the Credit Agreement is hereby amended by inserting the following definitions in appropriate alphabetical order:
“2017 Class B Term Loans” shall be the Term Loans incurred pursuant to the First Amendment.
“2017 Class B Term Loan Commitment” shall mean the Term Loan Commitment of each 2017 Term Lender to make 2017 Class B Term Loans pursuant to the First Amendment.
“2017 Class B Term Loan Commitment Schedule” shall mean the schedule of 2017 Class B Term Loan Commitments of each 2017 Term Lender provided to the Borrower on the First Amendment Effective Date by the Administrative Agent pursuant to the First Amendment.
“2017 Term Lender” shall mean each Lender having a Term Loan Commitment to provide 2017 Class B Term Loans or, as the case may be, with an outstanding 2017 Class B Term Loan.
 “Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I of ERISA, (b) a “plan” as defined in Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”. “First Amendment” shall mean the First Amendment to Amended and Restated Credit and Guaranty Agreement, dated as of November 14, 2017, by and among Parent, the Borrower, the Administrative Agent, the 2017 Term Lenders and Citibank, N.A., in its capacity as the designated Lender of 2017 Class B Term Loans.
“First Amendment Effective Date” shall have the meaning provided in the First Amendment.“PTE” means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time.
(ii)    The definition of “Applicable Margin” appearing in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:
“Applicable Margin” shall mean the rate per annum determined pursuant to the following:
	
			
	Class of Loans
	Applicable Margin Eurodollar Loans
	Applicable Margin ABR Loans

	2017 Class B Term Loans
	2.00%
	1.00%

	Revolving Loans
	N/A
	N/A

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(iii)    The first sentence of the definition of “Class” is hereby amended by deleting “Class B Term Loans” where it first appears and replacing such term with “2017 Class B Term Loans”.
(iv)    The definition of “LIBO Rate” is hereby amended and restated as follows:
“LIBO Rate” shall mean for any Interest Period as to any LIBO Rate Loan, (i) the rate per annum determined by the Administrative Agent to be the offered rate which appears on the page of the Reuters Screen which displays the London interbank offered rate administered by ICE Benchmark Administration Limited (such page currently being the LIBOR01 page) (“ICE LIBOR”) for deposits (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period in Dollars, determined as of approximately 11:00 a.m. (London, England time), two Business Days prior to the commencement of such Interest Period or (ii) in the event the rate referenced in the preceding clause (i) does not appear on such page or service or if such page or service shall cease to be available, the rate determined by the Administrative Agent to be the offered rate on such other page or other service which displays ICE LIBOR for deposits (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period in Dollars, determined as of approximately 11:00 a.m. (London, England time) two Business Days prior to the commencement of such Interest Period; provided that if ICE LIBOR is quoted under either of the preceding clauses (i) or (ii), but there is no such quotation for the Interest Period elected, the LIBO Rate shall be equal to the Interpolated Rate; and provided, further, that solely in respect of the 2017 Class B Term Loans, the LIBO Rate shall not be less than 0% for the purposes of this Agreement.
(v)    The definition of “Repricing Event” is hereby amended by deleting “Class B Term Loans” each place it appears and replacing it with “2017 Class B Term Loans”.
(vi)    The definition of “Term Loan” is hereby amended by deleting “Class B Term Loans” and replacing it with “2017 Class B Term Loans”.
(vii)    The definition of “Term Loan Commitment” appearing in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:
“Term Loan Commitment” shall mean the commitment of each Term Lender to make Term Loans hereunder and, in the case of the 2017 Class B Term Loans, in an aggregate principal amount not to exceed the amount set forth under the heading “2017 Class B Term Loans” opposite its name in the 2017 Class B Term Loan Commitment Schedule or in the Assignment and Acceptance pursuant to which such Term Lender became a party hereto, as the same may be changed from time to time pursuant to the terms hereof. The aggregate amount of the Term Loan Commitments as of the First Amendment Effective Date was $1,250,000,000. The Term Loan Commitments as of the First Amendment Effective Date are for 2017 Class B Term Loans.

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(viii)    The definition of “Term Loan Maturity Date” is hereby amended by deleting “Class B Term Loans” and replacing it with “2017 Class B Term Loans”.
(ix)    Section 2.01(b) is hereby amended by adding the following at the end of such Section:
On the First Amendment Effective Date, each 2017 Term Lender agrees to make to the Borrower the 2017 Class B Term Loans denominated in Dollars in an aggregate principal amount equal to such 2017 Term Lender’s 2017 Class B Term Loan Commitment in accordance with the terms and conditions of the First Amendment, which 2017 Class B Term Loans shall constitute Term Loans for all purposes of this Agreement.
(x)    Section 2.09 is hereby amended by adding the following at the end of such section:
Notwithstanding any provision to the contrary set forth in this Agreement, in the event the Administrative Agent determines, pursuant to and in accordance with this Section 2.09, that reasonable means do not exist for ascertaining the applicable LIBO Rate and the Administrative Agent and the Borrower mutually determine that the syndicated loan market has broadly accepted a replacement standard for the LIBO Rate, then the Administrative Agent and Borrower may, without the consent of any Lender, amend this Agreement to adopt such new broadly accepted market standard and to make such other changes as shall be necessary or appropriate in the good faith determination of the Administrative Agent and the Borrower in order to implement such new market standard herein and in the other Loan Documents.
(xi)    Section 2.10(b) is hereby amended and restated in its entirety as follows:
(b) The principal amounts of the 2017 Class B Term Loans shall be repaid in consecutive annual installments (each, an “Installment”) of 1.00% of the sum of (i) the original aggregate principal amount of the Class B Term Loans made on the Closing Date plus (ii) the original aggregate principal amount of any Incremental Term Loans of the same Class as the 2017 Class B Term Loans from time to time after the First Amendment Effective Date, on each anniversary of the Closing Date occurring prior to the Term Loan Maturity Date with respect to such 2017 Class B Term Loans. Notwithstanding the foregoing, (1) such Installments shall be reduced in connection with any mandatory or voluntary prepayments of the 2017 Class B Term Loans in accordance with Sections 2.12 and 2.13, as applicable and (2) the Term Loans, together with all other amounts owed hereunder with respect thereto, shall, in any event, be paid in full no later than the applicable Term Loan Termination Date.
(xii)    Section 2.13(a) is hereby amended by adding the following sentence at the end thereof:

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Notwithstanding anything to the contrary above, no notice to the Administrative Agent shall be required in connection with the repayment of the Existing Term Loans (as defined in the First Amendment) with the proceeds of 2017 Class B Term Loans incurred on the First Amendment Effective Date.
(xii)    Section 2.13(d) is hereby amended by (A) deleting “Class B Term Loans” each place it appears and replacing it with “2017 Class B Term Loans” and (B) deleting “Closing Date” and replacing it with “First Amendment Effective Date”.
(xiv)    Section 2.27(c) is hereby amended by deleting “Class B Term Loans” each place it appears and replacing it with “2017 Class B Term Loans”.
(xv)    Section 3.08 is hereby amended by adding the following proviso at the end thereof:
; provided that all proceeds of the 2017 Class B Term Loans incurred on the First Amendment Effective Date pursuant to the First Amendment shall solely be used as provided in the First Amendment.
(xvi)    A new Section 10.20 is added as follows:
“SECTION 10.20.  Certain ERISA Matters. 
(a) Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and each other Lead Arranger (as defined in the First Amendment) and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that at least one of the following is and will be true: 
(i) such Lender is not using “plan assets” (within the meaning of 29 CFR § 2510.3-101, as modified by Section 3(42) of ERISA) of one or more Benefit Plans in connection with the Loans, the Letters of Credit or the Commitments,
(ii) the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers), is applicable with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement,
(iii) (A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part VI of PTE 84-14), (B) 

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such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and perform the Loans, the Letters of Credit, the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement satisfies the requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement, or 
(iv) such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion, and such Lender.
(b) In addition, unless sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or such Lender has not provided another representation, warranty and covenant as provided in sub-clause (iv) in the immediately preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and each other Lead Arranger (as defined in the First Amendment) and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that: 
(i) none of the Administrative Agent or any other Lead Arranger (as defined in the First Amendment) or any of their respective Affiliates is a fiduciary with respect to the assets of such Lender (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related to hereto or thereto),
(ii) the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is independent (within the meaning of 29 CFR § 2510.3-21) and is a bank, an insurance carrier, an investment adviser, a broker-dealer or other person that holds, or has under management or control, total assets of at least $50 million, in each case as described in 29 CFR § 2510.3-21(c)(1)(i)(A)-(E),
(iii) the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is capable of evaluating investment risks independently, both in general and with regard to particular transactions and investment strategies (including in respect of the Obligations),
(iv) the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is a fiduciary 

6
	
			
	 
	 
	 

under ERISA or the Code, or both, with respect to the Loans, the Letters of Credit, the Commitments and this Agreement and is responsible for exercising independent judgment in evaluating the transactions hereunder, and
(v) no fee or other compensation is being paid directly to the Administrative Agent or any other Lead Arranger (as defined in the First Amendment) or any their respective Affiliates for investment advice (as opposed to other services) in connection with the Loans, the Letters of Credit, the Commitments or this Agreement.
(c) The Administrative Agent and each other Lead Arranger (as defined in the First Amendment) hereby informs the Lenders that each such Person is not undertaking to provide impartial investment advice, or to give advice in a fiduciary capacity, in connection with the transactions contemplated hereby, and that such Person has a financial interest in the transactions contemplated hereby in that such Person or an Affiliate thereof (i) may receive interest or other payments with respect to the Loans, the Letters of Credit, the Commitments and this Agreement, (ii) may recognize a gain if it extended the Loans, the Letters of Credit or the Commitments for an amount less than the amount being paid for an interest in the Loans, the Letters of Credit or the Commitments by such Lender or (iii) may receive fees or other payments in connection with the transactions contemplated hereby, the Loan Documents or otherwise, including structuring fees, commitment fees, arrangement fees, facility fees, upfront fees, underwriting fees, ticking fees, agency fees, administrative agent or collateral agent fees, utilization fees, minimum usage fees, letter of credit fees, fronting fees, deal-away or alternate transaction fees, amendment fees, processing fees, term out premiums, banker’s acceptance fees, breakage or other early termination fees or fees similar to the foregoing.
(b)    (i)    Subject to the satisfaction (or waiver) of the conditions set forth in Section Three hereof, the 2017 Term Lenders hereby agree to make 2017 Class B Term Loans (as defined below) to the Borrower on the First Amendment Effective Date (as defined below) in the aggregate principal amount of $1,250,000,000 which shall be used solely to refinance in full all outstanding Existing Term Loans and to pay fees and expenses relating to this First Amendment. 
(ii)    As of the First Amendment Effective Date, immediately prior to the effectiveness of the First Amendment, the Administrative Agent has prepared and provided a true and correct copy to the Borrower of a schedule (the “2017 Class B Term Loan Commitments Schedule”) which sets forth the allocated commitments received by it (the “2017 Class B Term Loan Commitments”) from the Lenders providing the 2017 Class B Term Loans.  The Administrative Agent has notified each 2017 Term Lender of its allocated 2017 Class B Term Loan Commitment, and each of the 2017 Term Lenders has executed a consent to this First Amendment in the form of Annex A attached hereto.  On the First Amendment Effective Date, all Existing Term Loans shall be refinanced in full as follows:
(w)the outstanding aggregate principal amount of Existing Term Loans of each Lender which does not have a 2017 Class B Term Loan Commitment (each, a “Non-Converting Term Lender”) shall be repaid in full in cash; 

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(x)to the extent any Lender has a 2017 Class B Term Loan Commitment that is less than the full outstanding aggregate principal amount of Existing Term Loans of such Lender, such Lender shall be repaid in cash in an amount equal to the difference between the outstanding aggregate principal amount of Existing Term Loans of such Lender and such Lender’s 2017 Class B Term Loan Commitment (the “Non-Converting Term Portion”); 
(y)the outstanding aggregate principal amount of Existing Term Loans of each Lender which has a 2017 Class B Term Loan Commitment (each, a “Converting Term Lender,” and, together with the Non-Converting Term Lenders, the “Existing Term Lenders”) shall automatically be converted into 2017 Class B Term Loans (a “Converted 2017 Class B Term Loan”) in a principal amount equal to such Converting Term Lender’s Existing Term Loans outstanding on the First Amendment Effective Date immediately prior to such conversion, less an amount equal to any Non-Converting Term Portion; and
(z)(1) each 2017 Term Lender that is not an Existing Term Lender (each, a “New Term Lender”) and (2) each Converting Term Lender with a 2017 Class B Term Loan Commitment in an amount in excess of the aggregate principal amount of Existing Term Loans of such Converting Term Lender (such difference, the “New Term Commitment”), agrees to make to the Borrower a new Term Loan (each, a “New Term Loan” and, collectively, the “New Term Loans” and, together with the Converted 2017 Class B Term Loans, the “2017 Class B Term Loans”) in a principal amount equal to such Converting Term Lender’s New Term Commitment or such New Term Lender’s 2017 Class B Term Loan Commitment, as the case may be, on the First Amendment Effective Date, which 2017 Class B Term Loans shall be subject to the terms of the Credit Agreement after giving effect to this First Amendment.
(iii)    On the First Amendment Effective Date, each 2017 Term Lender hereby agrees to fund its 2017 Class B Term Loans in an aggregate principal amount equal to such 2017 Term Lender’s 2017 Class B Term Loan Commitment as follows: (x) each Converting Term Lender shall fund its 2017 Class B Term Loans to the Borrower by converting its then outstanding principal amount of Existing Term Loans into 2017 Class B Term Loans in an equal principal amount as provided in clause (ii)(y) above, (y) (1) each Converting Term Lender with a New Term Commitment shall fund in cash an amount equal to its New Term Commitment to the Designated 2017 Term Lender and (2) each New Term Lender shall fund in cash an amount equal to its 2017 Class B Term Loan Commitment to the Designated 2017 Term Lender, and (z) the Designated 2017 Term Lender shall fund in cash to the Borrower an amount equal to the New Term Commitment of each Converting Term Lender and the 2017 Class B Term Loan Commitment of each New Term Lender.
(iv)    All outstanding Borrowings of Existing Term Loans shall continue in effect for the equivalent principal amount of 2017 Class B Term Loans after the First Amendment Effective Date and each resulting “borrowing” of 2017 Class B Term Loans shall be deemed to constitute a new deemed “borrowing” under the Credit Agreement and be subject to the same Interest Period (and the same LIBO Rate) applicable to the Existing Term Loans to which it relates immediately prior to the First Amendment Effective Date, which Interest Period shall continue in effect (until 

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such Interest Periods expire, at which time subsequent Interest Periods shall be determined in accordance with the provisions of Section 2.05 of the Credit Agreement).   New Term Loans shall be initially incurred as Eurodollar Loans and shall be allocated ratably to the outstanding deemed “borrowings” of 2017 Class B Term Loans on the First Amendment Effective Date. Each such Borrowing of New Term Loans shall be subject to (x) an Interest Period which commences on the First Amendment Effective Date and ends on the last day of the Interest Period applicable to the Existing Term Loans and (y) the same LIBO Rate applicable to the 2017 Class B Term Loans.  The 2017 Class B Term Loans of each 2017 Term Lender shall be allocated ratably to such Interest Periods (based upon the relative principal amounts of Borrowings of Existing Term Loans subject to such Interest Periods immediately prior to the First Amendment Effective Date), with the effect being that Existing Term Loans which are converted into Converted 2017 Class B Term Loans hereunder shall continue to be subject to the same Interest Periods and any 2017 Class B Term Loans that are funded in cash on the First Amendment Effective Date shall be ratably allocated to the various Interest Periods as described above.
(v)    On the First Amendment Effective Date, the Borrower shall pay in cash (a) all interest accrued on the Existing Term Loans through the First Amendment Effective Date and (b) to each Non-Converting Term Lender and each Converting Term Lender with a Non-Converting Term Portion, any breakage loss or expenses due under Section 2.15 of the Credit Agreement (it being understood that existing Interest Periods of the Existing Term Loans held by 2017 Term Lenders prior to the First Amendment  Effective Date shall continue on and after the First Amendment Effective Date and shall accrue interest in accordance with Section 2.07 of the Credit Agreement on and after the First Amendment Effective Date). Each Converting Term Lender hereby waives any entitlement to any breakage loss or expenses due under Section 2.15 of the Credit Agreement with respect to the repayment of that portion of its Existing Term Loans with the proceeds of Converted 2017 Class B Term Loans.
(vi)    On the First Amendment Effective Date, all promissory notes, if any, evidencing the Existing Term Loans shall be automatically cancelled, and any 2017 Term Lender may request that its 2017 Class B Term Loan be evidenced by a promissory pursuant to Section 2.10(f) of the Credit Agreement.
SECTION TWO - Titles and Roles. The parties hereto agree that, as of the First Amendment Effective Date and in connection with the First Amendment:
(a)each of Citigroup Global Markets Inc. (“Citi”), Barclays Bank PLC (“Barclays”),  Credit Suisse Securities (USA) LLC (“CS Securities”), Deutsche Bank Securities Inc. (“DBSI”), Goldman Sachs Bank USA (“GSB”), Industrial and Commercial Bank of China Limited, New York Branch (“ICBC”), JPMorgan Chase Bank, N.A. (“JPMCB”), Merrill Lynch, Pierce, Fenner & Smith Incorporated (“ML”), Morgan Stanley Senior Funding, Inc. (“MS”), BNP Paribas Securities Corp. (“BNP Securities”), Credit Agricole Corporate and Investment Bank (“CA-CIB”), Standard Chartered Bank (“SCB”), Sumitomo Mitsui Banking Corporation (“SMBC”), U.S. Bank National Association (“US Bank”), and Texas Capital Bank, N.A. (“TCB”) shall be designated as, and perform the roles associated with, a joint lead arranger and bookrunner (in such capacity, collectively, the “Lead Arrangers”);

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(b)each of Citi, Barclays,  CS Securities, DBSI, GSB, ICBC, JPMCB, ML and MS shall be designated as, and perform the roles associated with, a syndication agent (in such capacity, collectively, the “Syndication Agents”); and
(c)each of BNP Securities, CA-CIB, SCB, SMBC, US Bank, and TCB shall be designated as, and perform the roles associated with, a documentation agent (in such capacity, collectively, the “Documentation Agents”).
For the avoidance of doubt, the provisions of Section 10.04 of the Credit Agreement shall apply to, and inure to the benefit of, each Lead Arranger, each Syndication Agent and each Documentation Agent in connection with their respective roles hereunder.
SECTION THREE - Conditions to Effectiveness. The provisions of Section One of this First Amendment shall become effective on the date (the “First Amendment Effective Date”) when each of the following conditions specified below shall have been satisfied:
(a)    The Borrower, the Guarantor, the Administrative Agent, the Designated 2017 Term Lender, the 2017 Term Lenders and such other lenders constituting the Required Lenders shall have signed a counterpart hereof (whether the same or different counterparts) and shall have delivered the same to Milbank, Tweed, Hadley & McCloy LLP, 28 Liberty Street, New York, NY 10005, attention:  Dylan Scher; 
(b)    all reasonable invoiced out-of-pocket expenses incurred by the Lenders and the Administrative Agent pursuant to Section 10.04 of the Credit Agreement or the Engagement Letter, dated as of November 6, 2017, by and between, inter alios, the Borrower and the Lead Arrangers (including the reasonable and documented fees, charges and disbursements of counsel) and all accrued and unpaid fees, owing and payable (including any fees agreed to in connection with this First Amendment) shall have been paid to the extent invoiced at least two (2) Business Days prior to the First Amendment Effective Date (or such shorter period as may be agreed by the Borrower); 
(c)    the Administrative Agent shall have received an Officer’s Certificate certifying as to the Collateral Coverage Ratio in accordance with Section 4.02(d) of the Credit Agreement;
(d)    the Administrative Agent shall have received a customary written opinion of Latham & Watkins LLP, special counsel for the Borrower and the Guarantor addressed to the Administrative Agent and the 2017 Term Lenders party hereto, and dated the First Amendment Effective Date;
(e)    the Administrative Agent shall have received a certificate of the Secretary or Assistant Secretary (or similar Responsible Officer), dated the First Amendment Effective Date (i) certifying as to the incumbency and specimen signature of each Responsible Officer of the Borrower and the Guarantor executing this First Amendment or any other document delivered by it in connection herewith (such certificate to contain a certification of another Responsible Officer of that entity as to the incumbency and signature of the Responsible Officer signing the certificate 

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referred to in this clause (e)), (ii) certifying that each constitutional document of each Loan Party previously delivered to the Administrative Agent has not been amended, supplemented, rescinded or otherwise modified and remains in full force and effect as of the date hereof, (iii) attaching resolutions of each Loan Party approving the transactions contemplated by the First Amendment and (iv) attaching a certificate of good standing for the Borrower and the Guarantor of the state of such entity’s incorporation or formation, dated as of a recent date, as to the good standing of that entity (to the extent available in the applicable jurisdiction);
(f)    the Administrative Agent shall have received an Officer’s Certificate certifying (A) the truth in all material respects of the representations and warranties of the Borrower and other Loan Parties, as applicable, set forth in the Credit Agreement and the other Loan Documents (other than representations and warranties set forth in Sections 3.05(b), 3.06, 3.09(a) and 3.19 of the Credit Agreement and, for the avoidance of doubt, Section 10.20 of the Credit Agreement) as though made on the date hereof, or, in the case of any such representation and warranty that relates to a specified date, as though made as of such date; provided, that any representation or warranty that is qualified by materiality (it being understood that any representation or warranty that excludes circumstances that would not result in a “Material Adverse Change” or “Material Adverse Effect” shall not be considered (for purposes of this proviso) to be qualified by materiality) shall be true and correct in all respects as of the applicable date; and provided, further, that for purposes of this clause (i), the representations and warranties contained in (i) Section 3.04(a) of the Credit Agreement shall be deemed to refer to Parent’s Annual Report on Form 10-K for 2016 (as amended) filed with the SEC and all Quarterly Reports on Form 10-Q or Current Reports on Form 8-K that have been filed after December 31, 2016 by Parent with the SEC (as amended) and (ii) Section 3.05(a) of the Credit Agreement shall be deemed to refer to the audited consolidated financial statements of Parent and its Subsidiaries for the fiscal year ended December 31, 2016, included in Parent’s Annual Report on Form 10-K for 2016 filed with the SEC (as amended) and the unaudited consolidated financial statements of Parent and its Subsidiaries for the fiscal quarters ended March 31, 2017, June 30, 2017 and September 30, 2017, and (B) as to the absence of any event occurring and continuing, or resulting from this First Amendment on, the First Amendment Effective Date, that constitutes a Default or Event of Default; and
(g)    the Administrative Agent shall have received a Loan Request delivered in compliance with Section 2.03(b) of the Credit Agreement not later than 1:00 p.m. New York City time one (1) Business Day before the First Amendment Effective Date or such shorter time as the Administrative Agent may agree.
SECTION FOUR - No Default; Representations and Warranties.  In order to induce the 2017 Term Lenders and the Administrative Agent to enter into this First Amendment, the Borrower represents and warrants to each of the 2017 Term Lenders and the Administrative Agent that, on and as of the date hereof after giving effect to this First Amendment, (i) no Default or Event of Default has occurred and is continuing or would result from giving effect to this First Amendment and (ii) the representations and warranties of the Borrower and other Loan Parties, as applicable, contained in the Credit Agreement and the other Loan Documents (other than representations and warranties set forth in Sections 3.05(b), 3.06, 3.09(a) and 3.19 of the Credit Agreement and, for the avoidance of doubt, Section 10.20 of the Credit Agreement) are true and correct in all material 

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respects on and as of the date hereof with the same effect as if made on and as of the date hereof or, in the case of any representations and warranties that expressly relate to an earlier date, as though made as of such date; provided, that any representation or warranty that is qualified by materiality (it being understood that any representation or warranty that excludes circumstances that would not result in a “Material Adverse Change” or “Material Adverse Effect” shall not be considered (for purposes of this proviso) to be qualified by materiality) shall be true and correct in all respects as of the applicable date; and provided, further, that for purposes of this Section Four, the representations and warranties contained in (i) Section 3.04(a) of the Credit Agreement shall be deemed to refer to Parent’s Annual Report on Form 10-K for 2016 (as amended) filed with the SEC and all Quarterly Reports on Form 10-Q or Current Reports on Form 8-K that have been filed after December 31, 2016 by Parent with the SEC (as amended) and (ii) Section 3.05(a) of the Credit Agreement shall be deemed to refer to the audited consolidated financial statements of Parent and its Subsidiaries for the fiscal year ended December 31, 2016, included in Parent’s Annual Report on Form 10-K for 2016 filed with the SEC (as amended) and the unaudited consolidated financial statements of Parent and its Subsidiaries for the fiscal quarters ended March 31, 2017, June 30, 2017 and September 30, 2017.
SECTION FIVE - Confirmation.  The Borrower and the Guarantor hereby confirm that all of their obligations under the Credit Agreement (as amended hereby) are, and shall continue to be, in full force and effect. The parties hereto (i) confirm and agree that the term “Obligations” and “Guaranteed Obligations” as used in the Credit Agreement and the other Loan Documents shall include, without limitation, all obligations of the Borrower with respect to the 2017 Class B Term Loans (after giving effect to this First Amendment) and all obligations of the Guarantor with respect to the guarantee of such obligations, respectively, and (ii) reaffirm the grant of Liens on the Collateral to secure the Obligations (including the Obligations under the 2017 Class B Term Loans incurred pursuant to this First Amendment) pursuant to the Collateral Documents.
SECTION SIX - Reference to and Effect on the Credit Agreement.  On and after the First Amendment Effective Date, each reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement as amended by this First Amendment.  The Credit Agreement and each of the other Loan Documents, as specifically amended by this First Amendment, are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed.  This First Amendment shall be deemed to be a “Loan Document” for all purposes of the Credit Agreement (as amended hereby) and the other Loan Documents.  The execution, delivery and effectiveness of this First Amendment shall not, except as expressly provided herein, operate as an amendment or waiver of any right, power or remedy of any Lender or any Agent under any of the Loan Documents, nor constitute an amendment or waiver of any provision of any of the Loan Documents.
SECTION SEVEN -     Execution in Counterparts.  This First Amendment may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  This First Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.  Delivery of an executed counterpart of a signature page of this 

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First Amendment by facsimile or electronic .pdf copy shall be effective as delivery of a manually executed counterpart of this First Amendment.
SECTION EIGHT - Governing Law.  THIS FIRST AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS FIRST AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
SECTION NINE - Miscellaneous.    (a) The provisions set forth in Sections 10.03, 10.04, 10.05(b)-(d), 10.09, 10.10, 10.11, 10.13, 10.15, 10.16 and 10.17 of the Credit Agreement are hereby incorporated mutatis mutandis herein by reference thereto as fully and to the same extent as if set forth herein.
(b)    For purposes of determining withholding Taxes imposed under FATCA, from and after the effective date of this First Amendment, the Borrower and the Administrative Agent shall treat (and the Lenders party hereto hereby authorize the Administrative Agent to treat) the Term Loan Facility as not qualifying as a “grandfathered obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).
[REMAINDER OF THIS PAGE IS LEFT BLANK INTENTIONALLY]

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IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be duly executed and delivered as of the day and year first above written.
AMERICAN AIRLINES, INC., as the Borrower 
By: /s/ Thomas T. Weir      
    Name:  Thomas T. Weir 
    Title:    Vice President and Treasurer
AMERICAN AIRLINES GROUP INC., as Parent and Guarantor
By: /s/ Thomas T. Weir     
    Name:  Thomas T. Weir 
    Title:   Vice President and Treasurer

[First Amendment to Amended and Restated Credit and Guaranty Agreement]

CITIBANK, N.A., 
as Administrative Agent
By:     /s/ Matthew S. Burke     
Name:  Matthew S. Burke 
Title:    Vice President

[First Amendment to Amended and Restated Credit and Guaranty Agreement]

CITIBANK, N.A.,  
as the Designated 2017 Term Lender and a 2017 Term Lender
By:     /s/ Matthew S. Burke     
Name:  Matthew S. Burke 
Title:    Vice President

[First Amendment to Amended and Restated Credit and Guaranty Agreement]

Annex A

CONSENT TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AND GUARANTY AGREEMENT
	
				
	CONSENT (this “Consent”) to the First Amendment to Amended and Restated Credit and Guaranty Agreement (the “Agreement”), by and among American Airlines, Inc., as Borrower, American Airlines Group Inc., as Parent and a Guarantor, the lenders party thereto with a 2017 Class B Term Loan Commitment, each other lender party thereto and Citibank, N.A., as Administrative Agent and as the designated lender of 2017 Class B Term Loans.  Capitalized terms used in this Consent but not defined in this Consent have the meanings assigned to such terms in the Agreement.

	2017 Term Lender.  The undersigned 2017 Term Lender hereby irrevocably and unconditionally approves the Agreement and consents as follows (check ONE option):

	Cashless Settlement Option
 ̈ to exchange 100% of the outstanding principal amount of the Class B Term Loans (i.e. Existing Term Loans) held by such 2017 Term Lender for 2017 Class B Term Loans in an equal principal amount or such lesser amount allocated to such Lender by the Administrative Agent.
	Post-Closing Settlement Option
 ̈  to have 100% of the outstanding principal amount of the Class B Term Loans (i.e. Existing Term Loans) held by such 2017 Term Lender prepaid on the Effective Date and purchase by assignment 2017 Class B Term Loans in an equal principal amount or such lesser amount allocated to such Lender by the Administrative Agent.

	IN WITNESS WHEREOF, the undersigned has caused this Consent to be executed and delivered by a duly authorized officer.
________________________________________, 
as a 2017 Term Lender (type name of the legal entity)
By:   _____________________________________
Name:   
Title:   
If a second signature is necessary:
By:   _____________________________________
Name:   
Title:
Name of Fund Manager (if any):__________________

Current holding amount: $__________________

[First Amendment to Amended and Restated Credit and Guaranty Agreement]

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